Amazon India Pledges USD 120 Million for Startups, USD 80 Billion Export Target at SMBhav 2024

New Delhi, Dec 10 (KNN) E-commerce giant Amazon India unveiled a series of ambitious initiatives at its flagship SMBhav 2024 event, aimed at bolstering small businesses, startups, and exports.

The announcements, made by Amit Agarwal, Senior Vice President for India and Emerging Markets, signal Amazon’s intensified efforts to empower India’s entrepreneurial ecosystem.

Amazon India signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT), committing USD 120 million to support startups driving innovations in domestic manufacturing.

“We are very excited to sign this MoU, which aligns with the government’s ‘Make in India’ vision. This fund will be accessible to startups focused on building innovative manufacturing and trading brands out of India,” said Agarwal.

The initiative underscores Amazon’s focus on enhancing India’s role as a global manufacturing hub.

Building on its success in driving exports, Amazon announced an ambitious target to enable USD 80 billion in cumulative exports from India by 2030. “We are quadrupling our focus in this area, driven by the significant progress we’ve already made,” Agarwal said.

This commitment aims to help Indian businesses expand their global footprint and tap into international markets.

In a move to revolutionise logistics for businesses, Amazon India launched two new services: Amazon Shipping and DSM Amazon Freight.

“Our logistics technology, powered by AI, has created one of the most reliable delivery networks in the country,” said Agarwal. “Now, we’re making this accessible to all businesses.

Amazon Freight will provide full truckload intercity and intracity capabilities on demand, empowering sellers with seamless logistics solutions.”

The announcements highlight Amazon India’s multifaceted approach to fostering innovation, strengthening exports, and equipping Indian businesses with cutting-edge logistics infrastructure.

As India’s small businesses gear up for global challenges, Amazon’s initiatives are poised to play a pivotal role in shaping their success.

(KNN Bureau)