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Amazon promises $20 Bn in Indian exports by 2025

Amazon committed to facilitating exports of Indian goods worth $20 billion in the coming three years. The announcement came in its 2022 Exports Digest. Averaged out, that translates to around $2 billion a year in exports since 2015, when the company first started working with medium, small and micro enterprises (MSMEs) and other firms to have Indian goods shipped to Amazon customers in other countries.<br><br>

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Amazon promises $20 Bn in Indian exports by 2025

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  1. Amazon promises$20 Bn in Indianexports by 2025 AmazoncommittedtofacilitatingexportsofIndiangoodsworth$20billion in the coming three years. The announcement came in its2022 Exports Digest. Averaged out, that translates to around $2 billion a year in exports since2015,whenthecompanyfirststartedworkingwithmedium,smalland microenterprises(MSMEs)andotherfirmstohaveIndiangoodsshippedto Amazon customersinother countries. But the company only crossed $2 billion incumulativeexports (and not yearlyexports)in2020,whichmeansthatuntilthatyearitwasfacilitatingan average of$400millionin yearly exports,andwill nowhave toclockover$5 billion a year tohit thisgoal. “Exportersonthe[AmazonGlobalSelling]programareontracktosurpass the$5billionmilestoneincumulativeexports.Importantly,theprogramtook 3yearstoenablethefirstbilliondollarsinexports,whilethelast2billion have come in just 17 months,” Amazon’s top executive for India, Amit Agrawal, saidin the ExportsDigest.

  2. The top-growing product categories for Indian exporters are apparel, toys, jewelry,andbooks.Overa thousandretailersclockedoverRs1croreinsales tothe17otherinternationalmarketswhereAmazonoperates,thecompany said. The announcement of the new cumulative export goal, which was made alongside anendorsementfrom a Union Minister, comes as Amazon faces tensionsandlegalsetbacksinIndiathatmightthreatenitsgrowthinIndia. The companyislockedina legalbattlewithRelianceIndustriesLimitedover control for the Future Group’s retail assets, which the e-commerce giant arguesithadtherighttoveto.Twooftheplatform’smainretailers,Cloudtail andAppario,wereraidedbytheCompetitionCommissionofIndia,whichis looking into whether those firms are being given an unfair advantage on Amazon. With this announcement, though, Amazon is likely seeking to gain some level of political and economic leverage — the company has had fraught relations with brick-and-mortar traders, a group that has accused it of predatorypricingandskirtinglegalnorms.“Amazonisfloutingalllawsand FDIpolicyoftheGovernmentandtryingtocreatingamonopolisticmarket inIndiasincealongtimeandthereisnotransparencyon[thecompany’s]e- commerce portal thereby causing huge damage to small retailers of the country,”PraveenKhandelwal,theSecretaryGeneraloftheConfederationof All IndiaTraderssaid in astatement last Thursday. SpotlightingtieswithMSMEshaslongbeenatoolinAmazon’sarsenalto counterthis rhetoric,as awayof arguingthat it’s actuallyhelpingthevery groups whose representatives accuse it of threatening their existence. The companyhasinthepastadvertiseditssmallersellersinitsmarketing,even thoughReutersreportingrevealedthatCloudtailaccountedfor40%ofsales on theplatform. Indoingso,ithasalsofollowedawellwornpathbylargeforeignretailers, notably Swedish furniture giant Ikea, which has promised to increase local sourcing as well as take made in Indiatomarketsworldwide Getallthelatest startupnewsandupcomingIPOnewswithEntrackr.

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