Amazon targets $20 bn in exports from India by ’25
NEW DELHI: Online marketplace Amazon is increasing the scope of Indian exports on the platform as it sees a strong response for Made in India products in global markets and as small and mid-sized exporters turn online to sell their products, it said on Wednesday. The company will now target $20 billion cumulative exports from India by 2025, it said, revising its earlier target of $10 billion.
Cumulative exports by Indian exporters on the Amazon Global Selling program are on track to surpass the $5 billion milestone, the company said.
“The program took about three years to enable the first billion dollars and the last two billion dollars have come in just 17 months. The program has seen remarkable adoption among businesses of all sizes across the country and has grown to more than 1 lakh exporters (in India) since its launch in 2015. These exporters are showcasing millions of ‘Made in India’ products to customers worldwide through Amazon’s 18 international websites in countries such as the US, the UK, the UAE, Canada, Mexico, Germany, Italy, France, Spain, Netherlands, Turkey, Brazil, Japan, Australia, and Singapore,” the company said.
The Amazon Global Selling program helps lower the entry barrier for Indian micro, small, and medium enterprises (MSMEs) to expand their exports business using e-commerce as a platform.
In 2020, the company’s billionaire founder Jeff Bezos, while on a visit to India, said Amazon will use its global footprint to export Made in India goods worth $10 billion by 2025.
“In 2020, Amazon had pledged to enable $10 billion in cumulative exports from India by 2025 using this program. However, as Indian MSMEs discover how e-commerce makes it easy for them to reach customers globally, we are seeing a rapid increase in the number of exporters joining Amazon Global Selling to cater to the growing demand for Made in India products across the world. We are, therefore, scaling up our pledge to boost exports from India using e-commerce to $20 billion by 2025,” said Amit Agarwal, senior vice-president India and emerging markets, Amazon.
Absence of trade fares and suspension of mobility during the last two years of the covid-19 pandemic has also prompted more exporters to opt for a digital storefront.
The program has gained momentum driven by a combination of factors, including a growing base of exporters, new and emerging categories, and Amazon’s efforts to expand its program, said Abhijit Kamra, director, global trade, Amazon.
“We are constantly working on evolving capabilities to make it simpler for people to onboard and expand their business. The second thing that has played out is that the base of exporters has increased. Within the base people are also building diversified businesses and opening up new categories,” Kamra said..