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Amazon to invest USD 1 Bn to help digitise SMBs: Jeff Bezos

The 21st century is going to be an Indian century, said Amazon founder

Jan 16, 2020 by The Passage Team
Amazon to invest USD 1 Bn to help digitise SMBs: Jeff Bezos

Amazon Blog

Amazon announced it plans to invest USD 1 billion to digitally enable micro, small, and medium enterprises (MSMEs) and traders across India, including manufacturers, resellers, local offline shops, and brands. The company aims to digitise 10 million MSMEs with this investment, helping Indian businesses grow by selling online worldwide and enabling USD 10 billion in cumulative exports by 2025. As part of this effort, Amazon will establish 100 Digital Haats in cities and villages throughout India. Amazon Founder and CEO Jeff Bezos announced the plan at the inaugural Amazon SMBhav Summit in New Delhi on Wednesday.

“We’re committed to being a long-term partner of India. And actions speak louder than words,” said Bezos. “Over the next five years, Amazon will invest an incremental USD1 billion to digitise micro and small businesses in cities, towns, and villages across India, helping them reach more customers than ever before. This initiative will use Amazon’s global footprint to create USD10 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.”

Amazon will establish Digital Haats in 100 cities, villages, and communities to help businesses integrate into the digital economy. The Digital Haats will provide services like e-commerce onboarding, imaging and cataloging, warehouse space, logistics, digital marketing, and compliance. Digital Haats will be in local neighborhoods and available to MSMEs irrespective of their association with Amazon. To support local neighborhood shops and kiranas, Amazon will be expanding the Amazon Easy and “I Have Space” programs to provide additional income opportunities. Through Amazon Easy, kirana shops will be able to set up kiosks to provide assistance to their customers in choosing the right product, placing an order on Amazon and earning commission on the sales. Through “I Have Space”, local stores can expand their income by using their shops as a mini delivery center and delivering products ordered on Amazon in their neighborhood.

Bezos detailed Amazon’s Digitize India pledge in the first-ever Amazon SMBhav Summit, a two-day event hosting more than 3,000 businesses, traders, startups, and technology solution companies.

At the end of the fireside chat, he made two predictions for India. He said, "The 21st century is going to be an Indian century. The India-US alliance will be the most important in 21st century."

The Passage Team

The Passage is committed to creating in-depth content over technology industry across Asia with a focus on emerging startups in the technology, healthcare, education, food, tech, travel & mobility segments.

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