INTERNATIONAL – Amazon.com chief executive Jeff Bezos said his company will invest $1 billion (R14.4 million) to bring small and medium-sized businesses online in India and expects to export $10 billion worth of India-made goods by 2025.
Bezos’ visit comes amid strident criticism from small business owners who accuse the company and Walmart’s Flipkart of unfair business practices. The companies deny the allegations.
The Competition Commission of India (CCI) has also just launched a probe into Amazon and Flipkart.
On Wednesday, Bezos spoke at a company event at New Delhi’s Jawaharlal Nehru stadium that it has described as “a first-of-its-kind mega summit” to bring together more than 3 000 small businesses.
Amazon will also use its “size, scope and scale” to export $10 billion worth of locally made Indian goods, said Bezos as he praised the country.
“The dynamism, the energy … the growth. This country has something special and it’s a democracy.”