Amazon to invest $1 billion in India: Jeff Bezos

Our Bureau New Delhi | Updated on January 15, 2020 Published on January 15, 2020

Jeff Bezos. File photo

To export $10 billion 'Make in India' goods by 2025

Amidst protests against the company and its business module, Amazon Founder and Chief Executive Officer, Jeff Bezos on Wednesday said his company will invest $1 billion in India and export $10 billion worth products from country by 2025.

"We are going to invest an incremental $1 billion on digitising small and medium businesses (SMBs). We are going to use our global footprint to export...$10 billion of 'Make in India' goods by the year 2025," he said at the inaugural session of Smbhav event.

Amazon Smbhav is a first-of-its-kind summit bringing micro, small and medium enterprises (MSME’s) under one roof.

The company informed that over a million artisans, weavers and women entrepreneurs are already part of Amazon India and now going to get 10 million more such SMBs to be digitised by 2025 and export their products too.

"The goal is to get more people so that they can participate in prosperity for India," Bezos said adding that the announcement on more investment was because 'it's working and when something works, you should double down on it and that is what we are doing now'.

He said the kind of Indian goods have global acceptance has no comparison. To give an instance, he said the jacket he was wearing was from one of the SMBs he just met outside before the event.

On asked about future expectations from India, Bezos said, "I predict that the 21st century is going to be the Indian century...the dynamism, energy...everywhere I go here and meet people, they are interested in self improvement and growth. This century has something special and it is democracy. This is going to be the Indian century."

He also said that in this 21st century, the most important alliance will be between India and the US.

"It's the alliance between India and the United States -- the oldest democracy and the world's largest democracy," he added.

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Published on January 15, 2020
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