Amazon has announced $1 billion worth investment for digitising small and medium businesses in India.
The 21st century is "going to be the Indian century", Amazon CEO Jeff Bezos predicted as he announced investments worth over $1 billion to small business in the country. The tech mogul, who is on a three-day visit to the country, also spoke on the "dynamism and energy" in India.
"I predict that 21st century is going to be the Indian century," Mr Bezos said speaking at a company event in New Delhi.
Amazon has announced $1 billion worth investment for digitising small and medium businesses in India. Jeff Bezos, who is in New Delhi for the Smbhav summit, also said Amazon will use its global footprint to export 'Make in India' goods worth $10 billion by 2025.
"The dynamism, the energy... the growth. This country has something special and it's a democracy," said billionaire Jeff Bezos.
He also observed that in terms of alliances, the 21st century would be about the bilateral relations between the US and India.
Mr Bezos' visit to India comes at a crucial time as the Competition Commission of India has ordered an enquiry into the business practices of the e-commerce majors Amazon and Flipkart.
"We want Indian e-commerce market free from all glitches, unhealthy and unfair business practices, and till the government takes any action, our national agitation will continue," said Praveen Khandelwal, Secretary General of the Confederation of All India Traders (CAIT).
Thousands of small traders across 300 cities have planned protests against his visit, claiming the firm is distorting local retail market.
Amazon has committed $5.5 billion in India investments and sees the country as a key growth market.
Source - NDTV