Amazon Chief Executive Officer, Jeff Bezos on Wednesday said his company plans to pour $1 billion into small businesses in New Delhi, India.
Bezos Speaking at an event in India said Amazon wants to help manufacturers, re-sellers, shops and brands in the country, over the next five years.
Concerning this development, it was discovered that, more than 550,000 sellers use the Amazon India marketplace, and more than 60,000 manufacturers and brands export products to customers worldwide using the company’s platform.
In another development of the same idea, it was also noted that, by helping those businesses, Amazon projects that it can bring more than 10 million local businesses online by 2025.
To boost the business of Indian businessmen and women, Bezos stressed that the investment could help traders export $10 billion in Indian-made goods in the next five years, bolstering Indian Prime Minister Narendra Modi’s campaign to “Make in India.”
Amazon’s $1 billion-dollar pledge is the latest move by the company in its battle for a piece of the vast economy. Amazon has already committed more than $5 billion to growing its business in India.