Amazon Founder and CEO Jeff Bezos is in India this week and has been welcomed with not much love this year as the company along with Walmart’s Flipkart are facing an antitrust investigation by the Competition Commission of India and thousands of small merchants around the country are holding protests against the e-commerce giant.
But Jeff Bezos knows how important Indian market is for the company and the head of the company has announced a $1 billion investment in India to help digitize small and medium-sized businesses, previously the company invested around $5.5 billion in India. Bezos also said at the Amazon SMBhav conference that the company wants to scale up the local manufacturing in India to promote the “Make in India” initiative by Indian Government which will help the company increase it’s export to $10 billion by 2025.
An Amazon Executive at the conference said that the company has collected over 500,000 sellers and thousands of merchants in the country that are currently selling on 12 Amazon marketplaces around the world.
While, few kilometers away from the conference protests are being held by the Confederation of All India Traders (CAIT), a trade group that represents more than 60 million merchants in the country, said it has organised protests in 300 cities in India.