Amazon CEO, Jeff Bezos bets on Indian century, invests $1 bn digitizing MSMEs

Amazon to invest an additional $1 billion (about Rs 7,000 crore) to help bring small businesses online in India.

   
Jeff Bezos India visit

Amazon.com Inc founder and CEO Jeff Bezos is currently in India.  He has reportedly made a statement at the maiden edition of his firm’s micro, small and medium enterprises (MSME)-focussed event, Amazon Smbhav, that his company would invest an additional $1 billion (about Rs 7,000 crore) to help bring small businesses online in India. In fact, he also committed to using the retail giant’s “size, scope and scale” to export $10 billion of made-in-India goods by 2025.

Bezos’ India visit comes at a time when the Competition Commission of India (CCI) is probing his company, as well as Walmart-owned Flipkart, on complaints of deep discounting practices and tie-ups with preferred sellers.

Bezos, donned a traditional Indian attire at the event, owing to be committed to a long-term partner of India.

At the event, Jeff quoted, “I want to make a prediction for you. I predict that the 21st century is going to be the Indian century. The dynamism, the energy, everywhere I go here, I meet people who are working in self-improvement and growth. This country has something special, democracy,” he said.

He further said that in this 21st century, the most important alliance is going to be the alliance between India and the US. He further added that the firm aims to digitise 10 million MSMEs with the proposed investment. In addition to providing training and enrolling MSMEs into its programmes, Amazon will help them work on cloud technology through specialised AWS offerings at low costs. Also, it will establish 100 digital haats in cities and villages throughout India.

As per reports, Amazon has invested $5 billion in India in the last five years. The e-commerce platform also announced plans to support local neighbourhood shops and kiranas. The company also plans to expand its ‘I Have Space’ programme.






Trending

layoff

Labour ministry data: 3557 workers affected by lay-offs across India between January and June

ecommerce festival sale

E-tailers poised to clock $7 billion festive month sales in 2020: RedSeer

Changing landscape of healthcare start-ups amidst COVID-19

A changing landscape of healthcare start-ups amidst pandemic

Insurance For MSMEs Is A Key Ingredient Towards Nurturing The Atma Nirbhar Bharat

Insurance for MSMEs is a key ingredient towards nurturing the Atmanirbhar Bharat

How AI and deep learning are becoming artificial eye for visually impaired people

This Indian startup is giving an artificial vision to visually impaired people using AI and Deep Learning

25 - 20 million MSMEs lost jobs

US restrictions on textile imports from China may augur well for India: ICRA

real estate construction

Weak outlook for builders to affect cement and steel demand: Fitch Ratings

ease of doing business

Promotion of industry and internal trade identifying ease of doing business reforms with states

micro industrialization process

Ministry of MSME re-activates micro industrialization process in rural India

indian export piyush goyal

Piyush Goyal: double digit growth in exports show rapid economic recovery

auto sales

India’s 2020 auto sales to decline by 30%: Moody’s

bamboo plantation

Government launches 22 bamboo clusters in 9 States and new logo for NBM