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  Business   Companies  15 Jan 2020  Amazon chief says to invest USD 1 bn in digitizing small businesses in India

Amazon chief says to invest USD 1 bn in digitizing small businesses in India

REUTERS
Published : Jan 15, 2020, 1:13 pm IST
Updated : Jan 15, 2020, 1:13 pm IST

Amazon has committed USD 5.5 billion in India investments and sees the country as a key growth market.

Jeff Bezos, founder and CEO of Amazon.com.
 Jeff Bezos, founder and CEO of Amazon.com.

New Delhi: Amazon.com Inc will invest USD 1 billion in digitizing small- and medium-businesses in India and expects to export USD 10 billion worth of India-made goods by 2025, its founder Jeff Bezos said on Wednesday.

Speaking at a company event in New Delhi, Bezos also said he feels the 21st century is “going to be the Indian century.”

 

“The dynamism, the energy ... the growth. This country has something special and it’s a democracy,” Bezos said.

Amazon has committed USD 5.5 billion in India investments and sees the country as a key growth market.

Bezos’ visit, however, is likely to be marred by protests across India from small business owners who allege Amazon is driving them out of business by offering sharply discounted products and favoring select big sellers on its platform. The company denies the allegations.

Tags: amazon, jeff bezos, investment
Location: India, Delhi, New Delhi