Amazon set to expand its stores network in India
In an endorsement to Prime Minister Narendra Modi's Make in India campaign, Seattle-headquartered Amazon, which counts India among its key markets, has set up dedicated Make in India stores on its India and US websites, featuring products manufactured in the country, the company said in a statement on Saturday.
Interestingly, the Amazon.com website will showcase products across tapestry, toys, handicrafts and Aurveda products sold by more than 6000 Indian sellers.
"The Amazon platform, with innovations such as Easy Ship, Fulfillment by Amazon and Global Selling, can serve as a strong enabler for Indian manufactures, artisans, and businesses to reach customers not only in India but also across the globe. We are very excited to support the Make In India week with several initiatives on both Amazon.in and Amazon.com.
Make in India connects with our mission to transform how India buys and sells and we are thrilled that it will provide further impetus to Indian manufacturing allowing customers globally to access Indian innovations and creations," Amit Agarwal, vice-president and country head, Amazon India, said in a statement.
The Make in India week, a business expo to promote manufacturing in India, commences in Mumbai today.
Amazon India is fast expanding its global seller programme that allows its third-party merchants to sell ethnic apparel, home furnishings and other goods to Amazon customers in nine international markets, including the US, UK, Japan and Germany, Mint reported on 21 January. More than 6,000 sellers in India use Amazon Global Selling, compared with just 200 sellers in May when the service was launched.
At that time, sellers could only sell to Amazon customers in the US and UK.
Since its launch in June 2013, Amazon India has established itself as the biggest threat to local rivals Flipkart and Snapdeal. Until now, Indian firms haven't ventured abroad, primarily because the size of the Indian market is large. E-commerce sales may exceed $50 billion (around Rs3.2 trillion today) by 2020 from $4.47 billion in 2014, financial services firm UBS said in an April 2015 report.
The global selling programme is one of the differentiators in attracting sellers for Amazon, compared with its local rivals, Flipkart Ltd and Snapdeal (Jasper Infotech Pvt. Ltd). Amazon India has already received Rs7,679 crore since July 2014, when founder Jeff Bezos promised to invest $2 billion in India. The Make in India campaign was launched in September 2014 to encourage multinational and domestic enterprises to manufacture their products in India.