Amazon India clocks $1 bn exports in 18 months
NEW DELHI: Amazon India has clocked $1 billion in e-commerce exports in the past 18 months as local merchants took advantage of its global selling programme to reach out to customers outside the country.
With this, the online retailer’s overall exports from the country have crossed the $2 billion-mark since the launch of its programme in 2015. Amazon has set a $10 billion export target from India by 2025.
“It took the programme three years to hit cumulative exports of $1 billion, and it has grown 100% to hit the next $1 billion in less than 18 months, to cross the $2 billion milestone in cumulative exports from India,” Amit Agarwal, senior vice-president and country head, Amazon India, said at the launch of the third edition of Amazon Exports Digest on Monday.
Agarwal said that micro, small and medium enterprises (MSMES) are the backbone of the Indian economy and by digitizing them, the company is contributing towards boosting exports and job creation that will empower inclusive economic growth of the country. Amazon’s global selling programme allows Indian merchants to sell across 200 countries including the US, United Arab Emirates and the UK.
Nearly 60,000 sellers export from India using Amazon’s global channels, out of its merchant base of 600,000. Product categories such as health and hygiene, nutritional supplethe ments and home essentials saw heightened demand from overseas customers during the lockdown, Amazon said.
Union minister of micro, small and medium enterprises Nitin Gadkari asked Amazon India to help small businesses sell their products overseas. MSMES account for more than 28% of gross domestic product (GDP), more than 40% of exports and employ about 111 million people.
The government aims to increase MSMES’ contribution to 50% of GDP and increase the share of their exports to 60% and create 50 million new jobs in five years. Amazon has committed to digitise 10 million MSMES and create 1 million jobs in India.