Amazon pledges to enable $80 bn exports from India by 2030; partners DPIIT
- IBEF
- December 11, 2024
On Tuesday, Amazon announced its commitment to facilitate US$ 80 billion in cumulative exports from India by 2030, partnering with the Department for Promotion of Industry and Internal Trade (DPIIT) to position India as a global manufacturing hub. Senior Vice President for Emerging Markets at Amazon, Mr. Amit Agarwal, emphasized the company’s intensified focus on driving exports, stating that they aim to quadruple their efforts in India. Previously, Amazon pledged to digitize 10 million micro, small, and medium enterprises (MSMEs), achieve US$ 20 billion in cumulative exports, and create 2 million jobs in the country by 2025.
Amazon has already surpassed its goal of digitizing 10 million small businesses, achieving this milestone a year early. It has enabled over 12 million businesses to join the digital economy. The company has facilitated nearly US$ 13 billion in cumulative exports and created approximately 1.4 million direct and indirect jobs in India. Amazon represents about 3% of India's business-to-consumer (B2C) exports, excluding petroleum products. The Amazon Smbhav Venture Fund has also committed US$ 120 million to invest in manufacturing startups, further supporting the government's initiative to enhance India's manufacturing capabilities.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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