Amazon owner Bezos announces India investment

Published by Scott Challinor on January 15th 2020, 10:10am

Amazon chief Jeff Bezos has revealed that an investment of $1 billion [£770 million] will go toward helping small and medium sized businesses in India begin trading online, during a speech in New Delhi.

Bezos added that India is a key growth market for Amazon and that the 21st Century “is going to be the Indian century”.

Bezos said: "The dynamism, the energy... the growth. This country has something special - and it's a democracy.”

The commitment is an emphatic response to law changes in India which came in over 2019, restricting foreign-owned online retailers from selling goods via their own subsidiaries.

Bezos said that Amazon has pledged an investment of $5.5 billion into India already, and is expecting to have exported $10 billion worth of locally made products by the year 2025.

There are expected to be protests during Bezos’ visit to the country, with Amazon having been forced to deny that its offering of cut-price products on its Indian website is driving local traders out of business.

Amazon is one of two dominant forces in the Indian e-commerce market, alongside US retailer Walmart's local subsidiary, Flipkart.


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Authored By

Scott Challinor
Business Editor
January 15th 2020, 10:10am

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