Monday, October 19, 2020
Home India Amazon To Empower SMBs in India By Exporting Products Worth $10bn

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

$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.

ALSO READ: Foldable Samsung Smartphone “Galaxy Z Flip” To Have 15W Charger

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

 

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,782FollowersFollow

Most Popular

1 in 3 Indian Call Centres to Permanently Switch to Work From Home

Signalling the future of work in the pandemic times, nearly one in three call centres (27 per cent) in India will switch permanently to...

Here’s How You Can Improve Both Physical and Cognitive Health

Daily exercise, along with nutrient-enriched beverages, can do wonder with improving both physical and cognitive health, researchers have discovered. While exercise alone improved strength and...

Microsoft Set to Release New AI-Based Noise Suppression Tool in Teams

As more and more people work from home and at times have no control over jarring sounds in the background, Microsoft is set to...

Why President Trump and PM Modi are so Fiercely Opposed by the Left and Islamists

By Maria Wirth “Í prefer Trump to Hillary”, I told a German friend in the run up to the US elections in 2016. There was...

Hackers Imitated Microsoft the Most in Q3 2020: Report

Hackers imitated Microsoft the most to lure people into giving up their personal data or payment credentials in the third quarter of this year,...

Clearing a Forest to Grow a Forest in Order to Overcome Delhi’s Pollution

By Rahul Kumar It is that time of the year again-when the weather is pleasant but the city is polluted. Air quality has shown a...

Marijuana May Help Reduce Lung Inflammation Linked to Covid-19 Death

After reporting earlier this summer that marijuana ingredient cannabidiol, or CBD, may help reduce cytokine storm and excessive lung inflammation linked to Covid-19 deaths,...

Uber Introduces Masks Verification Selfie Policy

Ride-hailing major Uber on Monday introduced a new safety policy which will request riders, who have been tagged for not wearing masks on a...

Recent Comments