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Amazon's Jeff Bezos announces $1 Billion investment to digitize SMBs in India

By Gagandeep Sokhey . 15th January 2020 06:32pm
Amazon's Jeff Bezos announces $1 Billion investment to digitize SMBs in India

Amazon CEO Jeff Bezos is on a three-day visit to India and calls that the 21st century is going to be the "Indian century".

January 15, 2020: Jeff Bezos, the Amazon CEO is on a three-day visit to India and he has spoken about the dynamism and energy the country has. He even called the 21st century as "Indian century" and announced a whopping $1 billion investment for the growth of small and medium scale businesses in the country.

Bezos has come to New Delhi where he attended the SMBhav summit along with Amit Agarwal, the head of Amazon, India. He shared that Amazon will use its global footprint to export "Make in India" goods worth $10 billion by 2025.

He said,

"The dynamism, the energy...... the growth. This country has something special and its a democracy"

and further added, 

"Over the next five years, Amazon will invest an incremental $1 billion to digitize micro and small businesses in the cities, towns, and villages across India, helping them reach more customers than ever before"

However, his visit to India came at the time when the Competition Commission of India has ordered an inquiry into the major eCommerce players Amazon and Flipkart about their business practices.

The Confederation of All India Traders (CAIT) which consists of more than 60 million merchants in India have organized protests in more than 300 cities across the country. They allege the predatory pricing and other anti-competitive practices done by Amazon and Flipkart.

Some protestors also chanted "Amazon, Jeff Bezos, Flipkart go back!" holding a large poster of Jeff Bezos with the words highlighted.

Meanwhile, the billionaire also visited Mahatma Gandhi's memorial in Delhi where he paid respect to our father of the nation, take a look at the tweet,

jeff bezos in india

Bezos is also expected to meet the policymakers including Prime Minister of India, Narendra Modi.