Amazon chief Jeff Bezos, who has commenced his India visit on Wednesday, said the e-commerce major will invest $1 billion (over Rs 7,000 crore) in digitising small and medium businesses in India. The company will use its global footprint to export $10 billion worth of 'Make In India' goods by 2025, Bezos said at the Amazon SMBhav summit, which will focus on discussions around how technology adoption can enable small and medium businesses (SMBs) in India.
Bezos's promise comes amid the Confederation of All India Traders (CAIT) holding protests across the country during his visit to India. The traders accused Amazon of indulging in unfair trade practices and bias. Thousands of small traders across 300 cities have planned protests against his visit, claiming the firm is distorting local retail market.
Bezos, during his interaction on Wednesday, also stated that the India-US alliance will be the most important in 21st century.
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The top executive's visit comes at a time when India's antitrust body, Competition Commission of India has ordered an investigation into alleged violations of competition laws by Amazon and Walmart-owned Flipkart.
Bezos is in India this week and is expected to meet top government functionaries, business leaders and SMBs. Soon after him landing in India on Tuesday, Amazon announced that has pumped over Rs 1,700 crore into its payments and wholesale business units in India, signalling opportunity that the US giant sees in the country.