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Amazon To Empower SMBs in India By Exporting Products Worth $10bn

According to Prabhu Ram, Head, Industry Intelligence Group (IIG), CMR, SMBs in India account for 45 per cent of industrial output, creating employment for 60 million Indians and roughly 1.3 million jobs annually

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Amazon wants to make sure that the current perception of the company among the small businesses go away, else this will further call for strict scrutiny from the regulators and protests from small traders. VOA

$1 billion commitment by Amazon to empower small and medium businesses (SMBs) in India is Jeff Bezos’ attempt to change the e-commerce giant’s perception among small businesses which are in a retaliatory mode, industry experts said on Wednesday.

Bezos announced that the e-commerce major, through its global footprint, will help SMBs export products worth $10 billion by 2025. This move is seen as a measure to calm the growing unrest and protests going on under the aegis of the Confederation of All India Traders (CAIT).

“Amazon wants to make sure that the current perception of the company among the small businesses go away, else this will further call for strict scrutiny from the regulators and protests from small traders,” Satish Meena, Senior Forecast Analyst with Forrester, told IANS.

Over the next five years, Amazon will invest $1 billion to digitise micro and small businesses in cities, towns and villages across India, helping them reach more customers than ever before, announced Bezos.

According to Meena, this is in line with what Amazon is planning to do in India for the next few years.

“They need partnerships with SMBs for products to cater not only to the Indian customers, but also to customers outside the country,” he said. Amazon said it would establish ‘Digital Haats’ in 100 cities and villages to help businesses integrate into the digital economy.

According to Prabhu Ram, Head, Industry Intelligence Group (IIG), CMR, SMBs in India account for 45 per cent of industrial output, creating employment for 60 million Indians and roughly 1.3 million jobs annually. “The SMBs, however, are constrained by multiple challenges, including access to skills, talent, finance, and most importantly, digital outreach,” Ram told IANS.

Amazon
$1 billion commitment by Amazon to empower small and medium businesses (SMBs) in India is Jeff Bezos’ attempt to change the e-commerce giant’s perception among small businesses which are in a retaliatory mode, industry experts said on Wednesday. Pixabay

“This is where SMB-centric initiatives, such as Amazon’s commitment, are a welcome initiative to digitally support SMBs, enabling them to gain knowledge, reach their target audience, achieve scale, and while doing so, be able to measure their growth metrics,” Ram said.

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In the end, added Meena, SMBs in India also need handholding in product development, capital investment and access to market. (IANS)

 

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Amazon Looks Forward To Expand its Prescription Drug Delivery Business

The retail giant had purchased online pharmacy PillPack in 2018, a year after reports came out that it was looking to enter the healthcare industry

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Amazon reportedly filed its applications on January 9, in what could've been one of the earliest steps it took to start a pharmacy business and medicine delivery in countries other than the US. VOA

Amazon is looking to expanding its prescription drug delivery business likely to be called Amazon Pharmacy, to countries like the UK, Canada and Australia.

The e-commerce titan has applied for a trademark on the name “Amazon Pharmacy” in Canada, the UK and Australia, according to CNBC.

Amazon reportedly filed its applications on January 9, in what could’ve been one of the earliest steps it took to start medicine delivery in countries other than the US, Engadget reported on Wednesday.

The retail giant had purchased online pharmacy PillPack in 2018, a year after reports came out that it was looking to enter the healthcare industry.

Business
Amazon is looking to expanding its prescription drug delivery business likely to be called Amazon Pharmacy, to countries like the UK, Canada and Australia. Pixabay

PillPack is a medicine delivery service catering to customers who need to take multiple daily medications.

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A few months after the acquisition was announced, the tech giant changed PillPack’s branding to “PillPack by Amazon Pharmacy”, the Engadget report added. (IANS)