In its event Amazon ‘Smbhav’ held in New Delhi, he made a major announcement that would support Indian MSMEs. Yesterday, Amazon made it clear that they would invest $1 billion in digitizing small and medium businesses (SMBs) on its platform in India.
Speaking in the‘Smbhav’ event, Jeff Bezos said that Amazon would support SMBs to export their products. It’s no brainer that the rise of e-commerce sites have led to a huge impact on small businesses and shops, with everything going online people are relying more digitally on these days.
Bezos has announced that the e-commerce giant, through its global footprint, will help SMBs export products worth $10 billion by 2025. The initiative taken by the company will bolster the growth of the Indian economy, but how?
Amazon would be building ‘Digital Haats’ in 100 cities, villages, and communities to help the businesses integrate into the digital economy. The concept is unique which will help boost shops and businesses in the neighbourhood, Digital Haats will be available to MSMEs irrespective of their association with Amazon.
A company statement said. “We are going to use our global footprint to export 10 billion dollars of Make-in-India goods by 2025”, he said. Bezos even said that the main objective behind the support is that the business with SMBs in the country has been doing well. “Because it’s working, and when it’s working, you should double down on it”.
It is a fact that those businesses that have got associated with Amazon have been able to bolster their growth in the past few years but those who are not “digitally able” to get on Amazon, this step will have a huge impact on small and medium businesses.
Talking more about the Indian market and entrepreneurs, Bezos is determined that the 21st century will be the century of India. “I predict that 21st century is going to be the Indian century”, he said, recognizing the fact that apart from the dynamism which India has, it is the democracy which is a major characteristic of the country.
In terms of alliances, Jeff believes the 21st century would be about the bilateral relations between the US and India. In the coming years, this major step can have a bigger impact on the Indian economy as SMBs are very important parallelly to the e-commerce platforms.
Do check out: