Amazon.com Inc’s founder Jeff Bezos has stated that will invest $1 billion in digitising small and medium-sized business across India. Additionally, it expects to export $10 billion worth of India-made goods by the year 2025.
Speaking at an Amazon event in New Delhi, the worlds wealthiest man also said he feels the 21st century is “going to be the Indian century.”
“The dynamism, the energy … the growth. This country has something special and it’s a democracy,” Bezos said. Whilst visiting the country, Mr Bezos will meet Prime Minister Narendra Modi.
The Seattle, Washington-based technology company has so far committed $5.5 billion in India investments and sees the country as a key growth market.
The visit by Mr Bezos is likely to be both controversial and important for Amazon as they face regulatory tensions with the government there; and organised protests across the country from small business owners who allege Amazon.com Inc is driving them out of business by offering sharply discounted products and favouring select big sellers on its platform.
The company denies the allegations.