Amazon Reaffirms Its Commitment to ‘Viksit Bharat’ at the 5th Smbhav Summit

Amazon Reinforces Commitment to ‘Viksit Bharat’ at the 5th SMBhav Summit
MoU with DPIIT and $120 Million for Startups

As part of its commitment, Amazon signed a memorandum of understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to support India’s ambition of becoming a global manufacturing hub. Amazon pledged $120 million from its Smbhav Venture Fund to invest in startups that focus on digitizing consumer goods manufacturing in India. These investments aim to cater to both domestic and Commitment global demand while creating thousands of jobs.

Four-Fold Increase in Exports Commitment

Amazon also announced a significant expansion of its export initiatives, committing to enable over $80 billion in cumulative exports from India by 2030, a four-fold increase from its initial pledge of $20 billion by 2025. This goal will be driven through Amazon’s Global Selling program, which facilitates Indian MSMEs, manufacturers, and D2C startups to sell products internationally, alongside sourcing Made-in-India products for its global marketplaces. Key export sectors include Home & Kitchen, Apparel & Textiles, Toys, Health & Nutrition Supplements, and Commitment Ayurveda products.

Expanding Logistics Services Across India

To further enable businesses, Amazon is now offering its robust Commitment logistics services nationwide:

  • Amazon Freight: Provides intra-city and inter-city full truckload transportation services, accommodating varied capacity requirements.
  • Amazon Shipping: Offers last-mile delivery services across 14,000+ pin codes, ensuring cost-effective and reliable shipping solutions.

These services leverage Amazon’s extensive logistics network, promising improved delivery experiences and streamlined operations for businesses of all sizes.

Government Recognition and Endorsement

Union Minister Shri Nitin Jairam Gadkari, Minister of Road Transport and Highways, acknowledged Amazon’s initiatives, emphasizing their role in realizing the government’s vision of a Viksit Bharat. He highlighted Amazon’s contributions to manufacturing, AI, and logistics, stating, “Such collaborative efforts by the private sector foster innovation, drive exports, and strengthen logistics infrastructure, propelling India’s journey Commitment toward becoming a global economic powerhouse.”

Pledges on Track: Progress and Expansion

Amazon reaffirmed its progress on pledges made during the inaugural Smbhav Summit in 2020, which include:

  • Digitizing 10 million MSMEs: Achieved a year ahead of schedule, with over 12 million small businesses now part of the digital economy.
  • Cumulative exports of $20 billion by 2025: Expanded to a target of $80 billion by 2030.
  • Creating 2 million jobs: Generated nearly 1.4 million direct and indirect jobs in India to date.
Focusing on Manufacturing and AI Startups

Amazon’s Smbhav Venture Fund, launched in 2021, has been instrumental in driving innovation through technology startups. The fund, now expanded to $350 million, will broaden its focus to include manufacturing startups while continuing to prioritize other key sectors like artificial intelligence.

Building Made-in-India Global Brands

Amazon is closely collaborating with the Directorate General of Foreign Trade (DGFT) to leverage the government’s Districts as Export Hubs initiative, aiming to boost MSME exports nationwide. By enabling small and medium businesses to scale beyond borders, Amazon is playing a pivotal role in fostering global recognition for Made-in-India brands.

Strengthening Logistics Infrastructure

Over the past decade, Amazon has built a world-class logistics network to address India’s diverse market needs. This network now spans urban centers and rural areas, addressing unique local challenges.

  • Amazon Freight: Streamlines full truckload freight services for businesses, reducing costs and complexity by eliminating intermediaries. Features include dedicated account managers, 24/7 support, automated tracking, and electronic proof of delivery.
  • Amazon Shipping: Optimized for B2C parcel deliveries, it offers real-time tracking, transparent pricing, and tools like rescheduling and claim management. This service ensures a seamless last-mile delivery experience.
A Vision Aligned with India’s Growth

Amit Agarwal, Senior VP of Emerging Markets at Amazon, expressed his enthusiasm for India’s growth, stating, “India is a key market for Amazon, and our focus areas align well with the government’s priorities of digitizing small businesses, boosting exports, and creating jobs. We are committed to contributing to India’s economic growth and the Hon’ble Prime Minister’s vision of a Viksit Bharat.”

Conclusion

Amazon’s initiatives, from boosting exports to expanding logistics services and investing in startups, underscore its dedication to India’s development. By empowering MSMEs, leveraging cutting-edge logistics, and creating global opportunities for Indian businesses, Amazon continues to play a crucial role in shaping a digitally empowered and economically robust India.

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