Jeff Bezos to invest $1 billion in India to digitise small businesses
NEW DELHI- On Wednesday, Jeff Bezos said that Amazon shall be investing $1 billion to be spent towards the digitisation of small and medium Indian businesses.
By 2025, Amazon expects to export Indian-made goods worth $10 billion.
At an Amazon event in New Delhi, Jeff Bezos expressed his thoughts that the 21st century is the Indian century. He says that the dynamism, energy and growth of this democratic country is beyond special.
Amazon has committed to invest $5.5 billion in India, identifying the country as a key market of growth.
The visit, however, was marred by small business owners protesting in India alleging that Amazon drives them out of business by heavily discounting products and favouring bigger sellers on the e-commerce site. These allegations are denied by Amazon.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field