SME Times is powered by   
Search News
Just in:   • Govt restricts entry of Chinese firms in commercial coal mine auctions  • One time loan restructuring  • Real estate sentiments at record low in April-June  • BSE's Q1 consolidated net profit at over Rs 32 cr  • Moody's upgrades Yes Bank's ratings on fund raising 
Last updated: 15 Jan, 2020  

amazon-bezosTHMB.jpg Amazon to help Indian SMEs export products worth $10 bn: Bezos

   Top Stories
» Factory output continues downslide in July
» MSME ministry approves scheme for 'agarbatti' production
» Increase outstanding dues limit for MSMEs under ECLGS: AEPC
» RBI rate cut likely; Rupee may weaken further
» Need for personal mobility pushes auto sales
SME Times News Bureau | 15 Jan, 2020

E-commerce giant Amazon on Wednesday announced that the e-commerce major, through its global footprint, will help SMBs export products worth $10 billion by 2025.

Visiting Amazon CEO Jeff Bezos made this announcement amid several quarters of the Indian industry opposing his visit.

In a media briefing here on Tuesday, Praveen Khandelwal, the Secretary General of the Confederation of All India Traders (CAIT), reiterated that around seven crore traders and their families have been "extremely adversely affected due to the predatory and malafide business practices of Amazon and Flipkart".

Secretary General, Federation of Indian Micro and Small & Medium Enterprises (FISME) said that business models of e-commerce giants like Amazon do not benefit local industry and are creating jobs of delivery boys only.

Amid this protest, the announcement by Amazon is seen as a measure to calm the growing unrest and protests going on under the aegis of the Confederation of All India Traders (CAIT).

"Amazon wants to make sure that the current perception of the company among the small businesses go away, else this will further call for strict scrutiny from the regulators and protests from small traders," Satish Meena, Senior Forecast Analyst with Forrester, told IANS.

Over the next five years, Amazon will invest $1 billion to digitise micro and small businesses in cities, towns and villages across India, helping them reach more customers than ever before, announced Bezos.

According to Meena, this is in line with what Amazon is planning to do in India for the next few years.

"They need partnerships with SMBs for products to cater not only to the Indian customers, but also to customers outside the country," he said.

Amazon said it would establish 'Digital Haats' in 100 cities and villages to help businesses integrate into the digital economy.

According to Prabhu Ram, Head, Industry Intelligence Group (IIG), CMR, SMBs in India account for 45 per cent of industrial output, creating employment for 60 million Indians and roughly 1.3 million jobs annually.

"The SMBs, however, are constrained by multiple challenges, including access to skills, talent, finance, and most importantly, digital outreach," Ram told IANS.

"This is where SMB-centric initiatives, such as Amazon's commitment, are a welcome initiative to digitally support SMBs, enabling them to gain knowledge, reach their target audience, achieve scale, and while doing so, be able to measure their growth metrics," Ram said.

In the end, added Meena, SMBs in India also need handholding in product development, capital investment and access to market.

Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 04 Aug, 2020
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
» Textile opportunities in Finland: An export snapshot (1)
» Petrol, diesel prices unchanged for third day(1)
» Pain points for MSMEs(1)
» SBI's centralised SME loan process to ensure better loan processing(1)
» Focus is now on loan restructuring: FM(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter