Indian Economy News

E-commerce major Amazon surpasses US$ 8 billion in exports from India in 2023.

  • IBEF
  • February 16, 2024

Amazon declared on Wednesday that its cumulative exports from India surpassed US$ 8 billion in 2023, a noteworthy increase from the US$ 5 billion achieved in 2022. Director of Global Trade at Amazon India, Mr. Bhupen Wakankar, expressed confidence in reaching the ambitious US$ 20 billion export target by 2025. With seven years of exporting from India, the company highlighted its customer-centric focus amid competition, emphasizing the mutual benefits for the seller ecosystem. This achievement aligns with Amazon's broader vision for enhancing domestic exports, evidenced by the recent winners of the extended third edition of its Propel accelerator program: Mirana Toys, Avimee Herbal, and Perform. With 47 shortlisted brands this year, up from 15 in the previous edition, the program offers equity grants worth US$ 100,000, US$ 1 billion in AWS credits, and extensive mentorship.

Amazon's flourishing export categories include toys, home and kitchen products, beauty items, furniture, luggage, leather goods, and Ayurveda products. The company's primary export market remains the United States, with significant contributions from the UK, Canada, Japan, Germany, and other markets. The announcement underscores Amazon's commitment to further expansion and its role in fostering growth in India's export landscape.

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