Amazon Pledges to Enable $80 Billion Exports from India by 2030, Partners with DPIIT.
Economy Business
E-commerce giant Amazon committed to enabling $80 billion in cumulative exports from India by 2030 and announced a partnership with the Department for Promotion of Industry and Internal Trade (DPIIT) to establish India as a global manufacturing hub. The announcement was made by Amit Agarwal, Senior Vice President for Emerging Markets at Amazon, during the company's annual 'Smbhav Summit'. Amazon had previously pledged to digitize 10 million micro, small, and medium enterprises (MSMEs), achieve $20 billion in cumulative exports from India, and create 2 million jobs by 2025. Amazon India Country Manager Samir Kumar revealed that the company had already surpassed its pledge, enabling over 12 million small businesses to become part of the digital economy, achieving nearly $13 billion in exports, and creating 1.4 million jobs. The Smbhav Venture Fund signed an agreement with DPIIT, earmarking $120 million to invest in manufacturing startups, expanding the fund to $350 million. Additionally, Amazon launched logistics services - Amazon Shipping and Amazon Freight - to support businesses and direct-to-consumer (D2C) brands across India.
- Amazon launched logistics services, including Amazon Shipping and Amazon Freight.
- Partnership announced with DPIIT to establish India as a global manufacturing hub.
Main Point :- (i) Amazon surpassed its previous pledges, enabling over 12 million small businesses and achieving nearly $13 billion in exports.
(ii) Smbhav Venture Fund signed an agreement with DPIIT, earmarking $120 million for manufacturing startups.
- CEO: Andy Jassy
- Headquarters: New Delhi, India
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