Amazon commits US$ 1 bn
Amazon.com founder Jeff Bezos has committed US$ 1 billion to help bring small Indian businesses online. During his visit to India, Bezos has announced this initiative amidst regulatory scrutiny and trader protests. In a discussion with Amazon India country head Amit Agarwal, Bezos said that he will aim to reach as many as 10 million small and medium businesses, which include manufacturers, resellers, local offline shops and brands. “This initiative will use Amazon’s global footprint to create $10 billion in Indian exports by 2025,” Bezos said. Besides trade complaints of unfair trade practices, Amazon also faces scrutiny from the Competition Commission of India on alleged competition law violations along with competitor Flipkart.