We want to make it easy for SMEs to reach out to customers in this digital economy: Amazon CEO
Updated: Sep 29, 2014 02:53:55pm
Bangalore, Sept 29 (KNN) One of the things that is very unusual about India is the number of small and medium size businesses that you have, said founder and chief executive of Amazon.com Inc, Jeff Bezos adding, “We want to make it easy for small and medium businesses to reach out to customers in this digital economy.”
In an interview with Economics Times, Bezos said “There are certain things that are very unique in India. There are so many small and medium businesses. It's unusual. It's such a huge opportunity. So these guys have developed some inventions for them that we actually may have to export back to the rest of the word. With things like Easy Ship-- they are facilitating offline sellers, small physical stores. They (Amazon India team) are making it really easy by building the right infrastructure and toolsets for these companies (SMEs) to participate in the digital economy. I am super excited!”
Speaking about his announcement of USD 2 billion of investment in India, he said, “I have this belief that when things are working you should keep funding them. There is so much we can do here (in India) in terms of infrastructure, in terms of investing in mobile. Mobile is important in the entire world but it's especially important in India.
There is so much you can do with transportation and logistics--a lot of tools that we can build for small and medium businesses to connect back to the customers. So I am very, very excited about that. So if there is an opportunity to invest more we will. We are not capital-constrained. We are ideas-constrained--about what the new idea will be, Bezos added.
Further, he said that, “India is definitely in the investment phase. It would be a business mistake to stop investing and start generating free cash flow. That makes no sense. This is the right time to keep investing (in India). It's going extraordinarily well. In fact I find India and the people not just energetic but personally energising.”
Speaking about the marketplace model, he said, “Our marketplace model is working phenomenally well. Every country has its unique rules and our job is to adapt business systems to those rules. If those rules change in India, then we'll have to adapt to that. Then maybe we can also help small manufacturers adapt to it--like the Make in India kind of campaign.”
Amazon’s USD 2 billion investments was announced just a day after its nearest competitor in India, Flipkart raised USD 1.2 billion from investors. Earlier in the year, Snapdeal, too, received USD 233.7 million and also an investment from Ratan Tata. (KNN/SD)
In an interview with Economics Times, Bezos said “There are certain things that are very unique in India. There are so many small and medium businesses. It's unusual. It's such a huge opportunity. So these guys have developed some inventions for them that we actually may have to export back to the rest of the word. With things like Easy Ship-- they are facilitating offline sellers, small physical stores. They (Amazon India team) are making it really easy by building the right infrastructure and toolsets for these companies (SMEs) to participate in the digital economy. I am super excited!”
Speaking about his announcement of USD 2 billion of investment in India, he said, “I have this belief that when things are working you should keep funding them. There is so much we can do here (in India) in terms of infrastructure, in terms of investing in mobile. Mobile is important in the entire world but it's especially important in India.
There is so much you can do with transportation and logistics--a lot of tools that we can build for small and medium businesses to connect back to the customers. So I am very, very excited about that. So if there is an opportunity to invest more we will. We are not capital-constrained. We are ideas-constrained--about what the new idea will be, Bezos added.
Further, he said that, “India is definitely in the investment phase. It would be a business mistake to stop investing and start generating free cash flow. That makes no sense. This is the right time to keep investing (in India). It's going extraordinarily well. In fact I find India and the people not just energetic but personally energising.”
Speaking about the marketplace model, he said, “Our marketplace model is working phenomenally well. Every country has its unique rules and our job is to adapt business systems to those rules. If those rules change in India, then we'll have to adapt to that. Then maybe we can also help small manufacturers adapt to it--like the Make in India kind of campaign.”
Amazon’s USD 2 billion investments was announced just a day after its nearest competitor in India, Flipkart raised USD 1.2 billion from investors. Earlier in the year, Snapdeal, too, received USD 233.7 million and also an investment from Ratan Tata. (KNN/SD)
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