‘Amazon to export $10bn Indian goods by 2025’

NEW DELHI: Amazon founder and chief executive Jeff Bezos, who is on a three-day visit to India, said on Wednesday that the e-commerce giant will use its global footprint to export $10 billion worth of ‘Make In India’ goods by 2025.

Bezos also stated that Amazon is going to invest $1 billion in digitising the small and medium businesses in India.

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Bezos arrived in India on Tuesday. On alliance between the United States and India, he said that it will be most important in 21st century and is “going to be the Indian century”.

The billionaire e-commerce magnate may also hold a meeting with senior government officials, sources have said.

Amazon has committed $5.5 billion in India investments and sees the country as a key growth market.

Bezos’ visit comes at a time when the Competition Commission of India (CCI) is investigating into alleged violations of competition law by India’s largest online retailers Amazon and Flipkart.

CCI to probe Amazon, Flipkart for deep discounting

The Competition Commission of India (CCI) on Monday ordered an investigation into alleged violations of competition law by India’s largest online retailers Amazon and Flipkart. The allegations include exclusive launch of mobile phones, preferred sellers on the marketplaces, deep discounting and preferential listing/promotion of private labels.

The order for the probe comes after trader communities across the country levelled several allegations of violations of FDI (foreign direct investment) in e-commerce, along with the ones mentioned above against the online giants.
The Confederation of All India Traders (CAIT), which is spearheading a nationwide stir against the e-commerce giants called the order by CCI “historic”.

(With agency inputs)

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