Amazon Global Selling, in collaboration with India's Ministry of Commerce and Directorate General of Foreign Trade, has embarked on a mission to boost exports from a region rich in export potential.
What happened: Bhupen Wakankar, the man behind Amazon India's global trade, said in an interview published by Hindu Businessline that the company has strategically partnered with government and the private sector to accelerate the initiative. We emphasize that
Wakankar said Amazon recently signed an agreement with the Ministry of Commerce to focus on the country's top 75 districts, which support 80% of Amazon's exports from India.
Home to more than $1.25 billion of exporters, Amazon's platform has experienced explosive growth since its founding in 2015, generating $8 billion in revenue and forecasting 200 million exporters by 2025. The company has set a goal of 1 billion dollars (1.65 billion yen).
Why it's important: This growth trajectory marks a shift towards e-commerce exports, democratizing the space for small businesses and directly connecting more than 200 countries through Amazon's international websites.
The collaboration aims to leverage DGFT's local connections and infrastructure to strengthen awareness and education on e-commerce exports at the district level. The initiative promises to revolutionize the way small and medium-sized enterprises (MSMEs) operate, providing them with a streamlined digital means to reach global markets with a diverse range of products.
(This article is published under a mutual content partnership agreement between Free Press Journal and Benzinga)
Published: Thursday, March 14, 2024, 1:13 PM IST
