Deepti Sri · · 1 min readAmazon aims to digitalize 10 million small businesses in India by 2025
Photo credit: Amazon
Amazon is targeting to digitalize 10 million small businesses in India by 2025, which is estimated to generate US$20 billion in exports.
The US ecommerce giant launched in the South Asian nation in 2013 with an app that offers shopping in several local languages. It partnered with the India Post and Indian Railways to create its delivery network, and it also collaborated with local neighborhood shops to provide ecommerce services.
To date, the company has digitalized over 4 million small businesses and facilitated over US$5 billion in exports, it said.
However, its path in India has been hit with some major roadblocks. Amazon is believed to be trailing rival Flipkart in market share and has been facing opposition from small sellers.
In January, Amazon began laying off 1,000 members of its staff in India – part of a global retrenchment announced by CEO Andy Jassy.
The company saw a 36% year-on-year jump in income in its 2022 financial year at US$5.6 billion. Its losses also reduced by 8% to US$834 million during the period.
See also: Scrutinizing Amazon’s and Tesla’s Malaysian deals
Currency converted from Indian rupees to US dollar: US$1 = 82.65 rupees.
Editing by Thu Huong Le and Jaclyn Tiu
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