Largest e-commerce retailer Amazon will invest $1 billion in digitizing India's small and medium-sized businesses (SME) over the next five years, the company's CEO said on Wednesday
NEW DELHI (Pakistan Point News / Sputnik - 15th January, 2020) Largest e-commerce retailer Amazon will invest $1 billion in digitizing India's small and medium-sized businesses (SME) over the next five years, the company's CEO said on Wednesday.
"Today, we are announcing that we are going to invest an incremental $1 billion in digitizing small and medium businesses [in India]," Jeff Bezos said at a conference in New Delhi, posting his address on Twitter.
Amazon also aims to export $10 billion of Indian-made goods out of the country by 2025.
"I predict that the 21st century is going to be the Indian century," Bezos stated, naming growth, dynamism and people's strive for self-improvement as India's main features.
He also unexpectedly stated that the "most important alliance of the 21st century" would be the one between the US and India, "the world's oldest democracy and the world's largest democracy."
Bezos' visit to the country, meanwhile, comes amid protests against Amazon's alleged predatory pricing. In addition, the national anti-trust body is currently investigating a case involving Amazon, as well as its Indian and US competitors.
