Amazon.com Inc.’s total exports from small and medium-sized businesses in India have crossed $2 billion U.S., according to the company.
Amazon’s “Global Selling” program was launched in India, a key growth market for the company, in 2015. The program has helped more than 60,000 Indian sellers export products through 15 Amazon websites, the company said.
During a visit to India, Amazon boss Jeff Bezos said the U.S. e-commerce company would invest $1 billion U.S. in digitizing small- and medium-sized businesses in India and expected to export Indian-made goods worth $10 billion U.S. by 2025.
Current sales are still a fraction of India’s total exports of goods and services, which are estimated at nearly $530 billion U.S. Amazon has also tied up with Indian banks to provide cheap loans to its small sellers.
The biggest market for Amazon’s Indian exporters is the United States, and annual events there, such as Black Friday, Cyber Monday and the company’s Prime Day, have helped boost sales. Apparel and jewelry, home items and leather products are powering the sales. Amazon’s export boost comes as India is trying to cut cheap imports from China.
Tech Insider
