In a significant achievement, Amazon announced on Thursday that it has successfully digitized over 6.2 million micro, small, and medium enterprises (MSMEs) in India.
The company’s efforts have enabled an impressive cumulative e-commerce export value of nearly $8 billion and have generated over 1.3 million direct and indirect jobs across various sectors in the country.
Amazon’s commitment to bolstering the Indian business landscape doesn’t stop here. The e-commerce giant had set forth ambitious goals, pledging to digitize a remarkable 10 million MSMEs, facilitate $20 billion in cumulative e-commerce exports, and create an impressive 2 million jobs in India by 2025. As per their latest update, the company is well on its way to achieving these milestones.
“We are dedicated to nurturing the growth of micro-entrepreneurs, small businesses, and startups across India. Our continuous efforts aim to introduce innovative tools and technologies that will not only unlock the entrepreneurial potential of Indian businesses but also amplify exports and catalyze job creation on a large scale,” stated Manish Tiwary, the Country Manager of Amazon India’s Consumer Business.
Back in the headlines two years ago, Amazon unveiled the Amazon Smbhav Venture Fund, a substantial $250 million fund designated for investment in technology-driven startups with a passion for realizing the potential of a digitally transformed India.
Over the past 24 months, the Venture Fund has made strategic investments in several startups, including names like FreshtoHome, XYXX, Hopscotch, Fitterfly, Cashify, MyGlamm, M1xchange, and smallcase.
The scope of Amazon’s impact extends beyond digitization, encapsulating diverse sectors such as sellers, artisans, weavers, delivery and logistics service partners, among others.
Furthermore, Amazon is diligently constructing a robust infrastructure that empowers Indian businesses to tap into markets spanning over 200 countries and territories. This initiative is designed to cultivate global brands originating from India and promote exports through Amazon’s Global Selling program.
Highlighting the program’s rapid growth, Amazon shared that over 125,000 exporters are currently enrolled in the initiative, collectively poised to exceed $8 billion in cumulative exports by the conclusion of 2023.
Over the course of the last year, Amazon’s efforts have led to the creation of approximately 140,000 direct and indirect jobs across a spectrum of industries, including IT, e-commerce, logistics, manufacturing, content creation, and skill development. The company’s influence has also extended to indirect job creation within the thriving seller community.
As Amazon continues to foster a digitally empowered ecosystem for Indian businesses, the company’s commitment to growth, innovation, and job creation remains steadfast.
