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Amazon says exports from India-based sellers to cross $5 bln in 2024
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Amazon says exports from India-based sellers to cross $5 bln in 2024
Sep 6, 2024 12:59 PM

NEW DELHI, Sept 5 (Reuters) - Amazon Inc

expects to help Indian exporters sell about $5 billion worth of

small-ticket items through its platform this year in markets

such as the United States and Britain, up from nearly $3 billion

in 2023, a company official said.

Under the Amazon Global Selling programme, launched in 2015,

nearly 150,000 small exporters across India are expected to sell

their products directly to overseas consumers using the

company's e-commerce platform.

"We are investing significantly in tools and technologies to

help sellers optimise their reach, enhance product discovery,

and increase sales," Bhupen Wakankar, director of global trade

at Amazon ( AMZN ), told Reuters in an interview on Thursday, ahead of an

exporters' meeting in New Delhi.

Amazon ( AMZN ) is on track to help tens of thousands of Indian

businesses to surpass a cumulative $13 billion in e-commerce

exports by the end of 2024, a company statement said.

The move by one of the world's largest e-commerce companies

underscores India's growing role in the global supply chain and

reflects a broader trend among multinational corporations to

diversify supplies away from China.

Walmart Inc ( WMT ) said in 2020 it planned to hike its

supplies from India to $10 billion a year by 2027, up from about

$3 billion at that time.

Wakankar said Amazon ( AMZN ) had partnered with the India's commerce

ministry and trade associations to connect with small

manufacturers across the country offering products from textiles

and jewellery to household items and Ayurveda products.

Such items are usually easy to post directly to customers

abroad and less affected by import taxes than costlier products.

Amazon ( AMZN ) and Walmart's ( WMT ) Flipkart have reshaped India's retail

landscape in recent years, investing billions of dollars to

source supplies from small businesses and attracting consumers

through hefty discounts.

But they face criticism from trading and political groups.

India's commerce minister has accused Amazon ( AMZN ) and other

e-commerce companies of predatory pricing practices and said the

sector's rapid rise should not disrupt millions of

brick-and-mortar stores operating in the country.

Last June, Amazon ( AMZN ) announced plans to increase its

investments in India to $26 billion by 2030, including funds for

its cloud business.

The company aims to facilitate $20 billion in cumulative

e-commerce exports from India by 2025, Wakankar added.

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