Amazon has revealed plans to invest $1 billion in a bid to digitize small and medium-sized enterprises in India, with a long-term expectation of exporting $10 billion worth of India-made goods by 2025.
This initiative will use Amazon’s global footprint to create US$10 billion in India exports by 2025. Our hope is that this investment will bring millions more people into the future prosperity of India and at the same time expose the world to the ‘Make in India’ products that represent India’s rich, diverse culture.Jeff Bezos, CEO
However, India’s business owners have come out in large numbers to accuse the firm of foul play, arguing that by offering sharply discounted products and favoring select big sellers on its platform, the rest are slowly being driven out of business.
Amazon is an American multinational technology company based in that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. It is considered one of the Big Four tech companies, along with Google, Apple, and Facebook.