Amazon said on Wednesday that it aims to export locally produced Indian goods worth $20 billion by 2025, doubling its initial goal of $10 billion during the same time frame as the e-commerce group attracts over 100,000 exporters in the key overseas market.
It took the company — which launched its exports program, called Amazon Global Selling, in India in 2015 — three years to clock exports of $1 billion from the country, it said. The firm added the next $2 billion in just 17 months, it said at a virtual event Wednesday.
“We are excited to build a strong foundation for MSMEs to realize their export potential, help them become globally competitive and contribute towards honorable Prime Minister’s vision of making India an export powerhouse,” said Amit Agarwal, SVP of India and Emerging Markets for Amazon, at the event.
The company has enabled merchants from India to sell to customers worldwide through Amazon’s 18 international websites including in countries such as the U.S., the UK, Canada, Mexico, Germany, Spain, Australia and France, it said.
Shri Narayan Rane, Union Minister of Micro Small and Medium Enterprises, said in a statement: “MSMEs are the backbone of India’s economy, contributing to around a third of India’s GDP and driving nearly half of the country’s exports. Enhancing the export potential of Indian MSMEs is a key government priority and efforts are being made to support Indian MSMEs for their success in international markets. Amazon’s continued efforts towards enhancing the share of MSME exports is commendable, and their commitment to enable $20 billion of exports by 2025 is very timely. I would like to congratulate Amazon and all the MSMEs for playing an important role in driving export-led growth to help realize the vision of an Aatmanirbhar Bharat.”
This is a developing story. More to follow…
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