Amazon to invest Rs 6,500 cr in India, aid Rs 66K cr exports

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E-commerce giant Amazon’s chief executive officer Jeff Bezos on Wednesday announced plans to leverage his company’s global presence to export $10 billion-worth (Rs 66,590 crore) Make in India products world wide by 2025.

Addressing a two-day summit of small and medium enterprises (SMBhav) at the Jawaharlal Nehru Stadium here, Bezos also announced plans to invest $1 billion (Rs 6,500 crore) in India to bring micro, small and medium enterprises online.

The summit brings together more than 3,000 businesses, traders, startups and technology solution providers.

The announcement for investments comes at a time when Amazon is facing protests from small traders and retailers and is also battling charges of unfair trade practices at the Competition Commission of India.

“Our hope is that this investment will bring million more people into the future prosperity of India and at the same time expose the world to the “Make in India” products that represent India’s rich, diverse culture,” Bezos said.

“As part of this effort, Amazon will establish 100 Digital Haats in cities and villages throughout India,” it said.

The summit got off to a delayed start, drawing the ire of Infosys founder N R Narayana Murthy. “I was supposed to speak for 20 minutes, but will now try and finish it in five minutes because I am not used to delays,” Murthy said.

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