E-commerce giant Amazon was investigated by antitrust agencies in India this week, and thousands of small business owners went out to protest that the company had plundered the market. At a conference in New Delhi on Wednesday, Jeff Bezos and Amazon’s head, Amit Agarwal, announced that the company would invest $1 billion in India to help the country’s small and medium-sized enterprises get online. Previously, Amazon had said it would invest about $5.5 billion in India.
(Screenshot of the page)
Amazon also plans to export goods of origin from India, in line with the government’s plan to encourage “Made in India”. Bezos said in a statement:
Over the next five years, Amazon will invest an additional $1 billion to enable small businesses in India’s towns and villages to digitally transform, helping them attract more customers.
The program will help customers generate $10 billion in total exports by 2025 with Amazon’s global network.
We hope this investment will help India prosper and bring a rich and diverse range of Indian-made products to the world.
In the past decade, nearly 1 billion people in India have first contacted the network. But most small businesses and small workshops in thousands of small towns and villages across India remain isolated.
To improve the situation, Google, Facebook and Microsoft have all introduced tools to help these companies build influence on the web and accept digital payments.
It’s worth noting that Amazon also aired an inspirational video at amazon SMBhav’s conference about india’s poor merchants and craftspeople, promoting the expansion of its business through an e-commerce platform.
An Amazon executive said the company had accumulated more than 500,000 sellers in India, and thousands of merchants began selling goods in 12 Amazon markets around the world.
But just 10 miles (16 kilometers) from the meeting site, dozens of businessmen told a different story.
The All India Businessmen’s Federation (CAIT), which represents more than 60 million businessmen in the country, said it was organizing protests in 300 indian cities, particularly predatory pricing and other anti-competitive practices against Amazon and Flipkart.