Ease of Doing Business for MSMEs: The company had announced a $250 million Amazon Smbhav Venture Fund last year to invest in startups and entrepreneurs focused on technology innovations in SMB digitization.
Ease of Doing Business for MSMEs: E-commerce company Amazon India on Sunday announced updates on its key pledges for India. The company said it has cumulatively created over 11.6 lakh direct and indirect jobs, enabled nearly $5 billion in cumulative exports, and digitized over 40 lakh MSMEs during its near nine-year journey in India. Amazon went live with its India marketplace in June 2013.
In January 2020 during a company event, the company had pledged to digitize 1 crore MSMEs, enable $10 billion in cumulative exports and create 20 lakh jobs in India by 2025. Amazon said it is well on track to fulfil these pledges, while doubling its export pledge from India, to now enable $20 billion in cumulative exports from India by 2025.
In the last one year, Amazon said it had helped generate more than 1.35 lakh direct and indirect jobs across industries such as IT, e-commerce, logistics, manufacturing, content creation, skill development and more apart from indirect jobs it helped create in the seller community.
Under its Global Selling Programme, there are over 1 lakh Indian exporters on track to cross $5 billion in cumulative exports. “Amazon Global Selling took three years to enable the first billion dollars in cumulative exports and only 17 months to enable the last two billion dollars,” the company said.
“As we continue to work with MSMEs across the country, we remain committed to bringing new tools, technology and innovation that will unleash the entrepreneurial spirit of Indian businesses, boost exports from the country and help create jobs at scale,” said Manish Tiwary, Country Manager, India Consumer Business, Amazon India in a statement.
The company had announced a $250 million Amazon Smbhav Venture Fund last year to invest in startups and entrepreneurs focused on technology innovations in SMB digitization. So far, Amazon has invested in beauty products platform MyGlamm, invoice discounting portal M1xchange, and Small Case, a platform for individuals to invest in curated portfolios created by Sebi registered analysts or investment advisors.
https://www.financialexpress.com/industry/sme/msme-eodb-amazons-nine-years-in-india-over-11-6-lakh-jobs-near-5-billion-in-exports-40-lakh-msmes-digitized-says-company/2525330/
