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Jeff Bezos, founder of amazon.com, said India was the fastest growing market in the world and his company will launch all its products here.
“It has grown beyond our expectations,” Bezos told BusinessLine on Sunday.
Bezos, who is in India to mark the company’s more than a year old operations as well as to physically hand over the $2-billion cheque (fresh investments into Indian operations) to Amit Agarwal, country manager, said he was extremely happy with the growth of Amazon here.
He said properties like Amazon Studios, which was recently started in the US for developing feature films and episodic series, and delivery using drones could find their way into India.
“I don’t know what the road map is and timeline is but I see no reasons why these businesses cannot be brought to India at some point. For example, Amazon Studio with its original content is a big thing. Indian cinema is a really a big opportunity and not just in India, there is a big export market for it. I am very excited about this opportunity,” he said.
Bezos’ optimism comes from the fact that his e-commerce business in India has taken off quite well in the first 16 months since launch and in fact the company has had to reset goals.
“These guys (Amazon’s India team) keep blowing through these expectations. In fact, a lot of people say there are a lot of obstacles doing business in India. But our results say otherwise,” he pointed out.
He also said the company would also look at acquiring e-commerce companies in India though it would like to grow more through the organic route.
In fact, Bezos is now looking to take innovations made in the Indian market to other countries.
For example Amazon Easy Ship, which is a delivery service for Amazon.in sellers, is being taken to other markets. “Easy Ship is a profound invention. We are going to be able to export it to the rest of the world. It was invented because India is so unusual and India has so many small and medium businesses,” he said.
Regulatory issues like the rules barring Foreign Direct Investment in e-commerce and the ongoing tax case in Karnataka are not coming in the way for Amazon. But he said if the regulations were more conducive there could be more business.
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