Amazon, the world’s e-commerce leader, reaffirmed its commitment to $80 billion in cumulative exports from India by 2030. It was on its annual ‘Smbhav Summit’, when it laid out its plan for stronger partnerships and initiatives towards turning India into a global manufacturing hub.
Amit Agarwal, Senior Vice President of Emerging Markets at Amazon said,”Inspired by the success we have achieved in moving exports out of India.we are quadrupling our investment in India.we are going to accelerate our commitment to helping to generate $80 billion in exports by 2030.”
This is the second in a series of commitments that Amazon made previously to digitize 10 million micro, small, and medium enterprises (MSMEs), to generate $20 billion in cumulative exports, and to create 2 million jobs by 2025.
Samir Kumar, Amazon India Country Manager revealed that the company has already passed on significant milestones ahead of schedule.
“We are humbled to share that we have hit our pledge to digitize 10 million small businesses one year ahead of time and have enabled over 12 million small businesses to become a part of the digital economy,” Kumar stated.
To date, Amazon has helped to generate nearly $13 billion in cumulative exports and facilitated about 1.4 million direct and indirect jobs in India. The company today represents 3% of India’s business-to-consumer (B2C) exports, excluding petroleum products.
Partnership With DPIIT For Manufacturing Growth
In a strategic move, Amazon announced its collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT) to make India a global manufacturing hub. Through its Smbhav Venture Fund, the company has set aside $120 million for manufacturing startups, bringing the fund’s total value to $350 million. “We will make that accessible to startups investing in domestic manufacturing and creating brands out of India,” Agarwal added.
Amazon is working closely with the Directorate General of Foreign Trade (DGFT) to support the government’s ‘Districts as Export Hubs (DEH)’ initiative. This will help to build MSME exports in all districts of India and connect small businesses to the rest of the world.
Logistics Solutions Launch
The company also launched its logistics solutions, Amazon Shipping and Amazon Freight, to support Indian businesses and D2C brands.
Amazon Freight offers full truckload freight services for both intra-city and inter-city movements. Amazon Shipping provides last-mile B2C parcel deliveries that improve the supply chain for businesses across the country.
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