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Wednesday, January 22, 2020

During India visit Jeff Bezos says, Amazon will invest $1 billion in digitising small businesses

Amazon will invest $1 billion in digitising small- and medium-businesses in India and expects to export $10 billion worth of India-made goods by 2025, its founder Jeff Bezos said on Wednesday.

By: Reuters | New Delhi | Updated: January 15, 2020 1:08:45 pm
amazon jeff bezos 759 Amazon to invest USD 1 bn in digitising Indian SMBs: Jeff Bezos

Amazon.com Inc will invest $1 billion in digitizing small- and medium-businesses in India and expects to export $10 billion worth of India-made goods by 2025, its founder Jeff Bezos said on Wednesday.

Speaking at a company event in New Delhi, Bezos also said he feels the 21st century is “going to be the Indian century.”

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“The dynamism, the energy … the growth. This country has something special and it’s a democracy,” Bezos said.

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Amazon has committed $5.5 billion in India investments and sees the country as a key growth market.

Bezos’ visit, however, is likely to be marred by protests across India from small business owners who allege Amazon is driving them out of business by offering sharply discounted products and favouring select big sellers on its platform. The company denies the allegations.

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