Jeff Bezos ,CEO of Amazon, announces Rs.70,000 crore for digitizing SMBs in India

Jeff Bezos,CEO of Amazon, who is visiting India to kick offSMbhav an annual event of Amazon, made a huge announcement of $1 Billion to digitize Small And Medium Businesses.

SMBhav is an event to connect with small and medium business owners in India.
Not only that but Jeff Bezos also said that the company will use its expand across countries to export “Made in India” products.
It is an estimate that such Made In India exports will reach $10 billion by 2025.

“The 21st century is going to be the Indian century. The dynamism, the energy … the growth. This country has something special and it’s a democracy,” .

Jeff Bezos at SMBhav 2020

In the two event to be held on 15-16th Jan and executives from Amazon India and other companies such as Infosys, ICICI Bank LImited and VISA will speak at the event.

The Protests And the Anti – Competitive Investigation

Thousands of traders under the umbrella of The Confederation of All India Traders (CAIT) are protesting against the deep discount offered by Amazon which according to them is breaking their backs.
Also the Competition Commission of India has opened investigation alleging the both E-Commerce giants(Flipkart and Amzon) have preferred sellers (despite govt norms) and are able to keep a predatory pricing for preferred brands by offering huge discount that harm the small and medium businesses.

So in hindsight it may appears that Jeff Bezos is trying to garner some good will against the protests as well as the the investigation before his meeting with Indian PM Modi but at the same time we must factor the volume of taxes Amazon pays, the number of employment that it is creating and how it recently opened a very big Software Development Centre in Hyderabad, India.

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