Jeff Bezos said Amazon is investing $1 billion in India – Business Insider

Jeff Bezos said Amazon is investing $1 billion in India – Business Insider

Jeff Bezos
Amazon CEO Jeff Bezos announced on Wednesday that the retail giant would invest $1 billion in "digitizing small and medium businesses" in India. Bezos also said that the most important alliance of this century would be between India and the United States. His arrival in India was met by protesters who say Amazon is driving small retailers out of business by undercutting them on price. Visit Business Insider's homepage for more stories. Amazon CEO Jeff Bezos is on a trip to India and said he was betting big on the country, even as thousands of protesters there waved placards saying "Jeff Bezos go back!" During a fireside chat on Wednesday at an Amazon India event in New Delhi, Bezos announced a $1 billion investment in "digitizing small and medium businesses" in India. He added that Amazon aims to export $10 billion worth of Indian goods by 2025. "I want to make a prediction for you, " Bezos said. "I predict that the 21st century is going to be the Indian century." He added, "I'll make one more prediction for you: In this 21st century, the most important alliance is going to be the alliance between India and the United States, ....


The company faces fierce competition in India from Flipkart, though it's close to overtaking the firm — according to Forrester data cited by S&P Global Market Intelligence, Flipkart had a 31.9% market share in India in 2018, versus Amazon's 31.2%. Both Amazon and Flipkart are also the focus of an antitrust investigation into whether they undercut small businesses on price. Do you work at Amazon? Got a tip? Contact this reporter via email at [email protected] or [email protected] You can also contact Business Insider securely via SecureDrop.. .

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