Pricing & Plans

Amazon to Invest $1Billion for Small Businesses in India

  17 Jan 2020        Business
Amazon to Invest $1Billion for Small Businesses in India

Jeff Bezos, CEO of Inc. during his visit in India said that his company will invest $1 billion for the small businesses so that they can digitalize and bring their business on e-commerce platform. This took place after the small business in India decided to protest against amazon during Jeff Bezos’s visit to India. 

Brick and mortar retailers from India have accused and criticised U.S. giants, Amazon and Walmart’s Flipkart for disregarding Indian law by granting heavy discounts and for discriminating between the small sellers and big sellers. The companies have however, denied the allegations. The Competition Commission of India (CCI) said this week that it has decided to scrutinize these allegations by launching anti-trust probe. 

Amazon has promised to establish digital centres in around 100 cities and villages of India to aid small businesses get onto online platforms to sell their goods. The company will also offer support them in logistics and marketing. 

Bezos said that by investing $1 billion, more than 10 million businesses will be able to operate online. By 2025, the exports of Indian made goods will be worth $10 billion. 

During the company’s event in New Delhi stadium, Amazon described the meeting as first of its kind mega summit that brought together 3000 small businesses. Praising India, Bezos said Amazon is committed to making India its long term partner. 

Bezos told that audience that the country has something special in terms of its growth, energy, and dynamics. He wore a blue traditional Indian jacket as an admiration for the country. 

The other event Bezos attended was a visit to Mahatma Gandhi memorial to pay his tribute. He has also sought a meeting with the Prime Minister Narendra Modi along with other government officials. 

The Confederation of All India Traders, the group that is representing around 70 mn brick and mortar retailers have pledged to protest in 300 large towns during Jeff Bezos’s visit. However, the protests so far have been small. One took place in New Delhi and the other in eastern state of Odisha, with 50 demonstrator in each.