Amazon is to invest $ 1 billion in Indian SMEs: Jeff Bezos

NEW DELHI: Amazon will invest an incremental $ 1 billion in digitising Small and Medium Enterprises (SMEs) in India, Amazon Chief Jeff Bezos said.

Betting big on Indian SMBs, Bezos said Amazon India will use its global footprints to export $10 billion worth of ‘Make in India’ products by 2025. Bezos added that in the 21st century, the most important alliance is going to be the alliance between India and US. “The world’s oldest and largest democracy,” said Bezos.

“I want to make a prediction for you – the 21st century is going to be the Indian century,” he said, adding this (India) country has something special,” he added. Bezos, the CEO and co-founder of e-commerce giant Amazon, who is in India for an official visit to India.

Bezos landed in India on Tuesday and paid homage to Mahatma Gandhi, at Raj Ghat . He is scheduled to meet industry experts including Mukesh Ambani and Ratan Tata, followed by celebrity meet and a fireside chat with Shah Rukh Khan. Though his request to meet Prime Minister Modi or any Central Govt Minister has been turned down owning to the ingoing protest by CAIT against deep discounting.

Amazon plans to establish Digital Haats in 100 cities, villages, and communities to help businesses integrate into the digital economy. The Digital Haats will provide services like e-commerce onboarding, imaging and cataloging, warehouse space, logistics, digital marketing, and compliance. Digital Haats will be in local neighborhoods and available to MSMEs irrespective of their association with Amazon.

Bezos detailed Amazon’s Digitize India pledge in the first-ever Amazon SMBhav Summit. The two-day event is hosting more than 3,000 businesses, traders, startups, and technology solution companies. The event is designed to provide MSMEs in India an opportunity to engage with Amazon on how to expand their growth nationally and internationally, share learnings, understand new opportunities for online businesses in India, and get insights into future trends.

During the summit, Bezos presented three Small Business Awards to local Indian businesses for Digital SMB of the year, Woman Entrepreneur of the Year, and Global SMB of the Year. In addition to Bezos, speakers included Narayana Murthy, co-founder – Infosys; Kishore Biyani, Founder & CEO – Future Group; and other industry leaders from across the spectrum of digital businesses.

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