Connect with us

Hi, what are you looking for?

DOGE0.070.84%SOL19.370.72%USDC1.000.01%BNB287.900.44%AVAX15.990.06%XLM0.080.37%
USDT1.000%XRP0.392.6%BCH121.000.75%DOT5.710.16%ADA0.320.37%LTC85.290.38%
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

Amazon eyes $20 bln exports by 2025 from India, says company official

Smartphone with Amazon logo is seen in front of displayed Indian flag in this illustration taken, July 30, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
Smartphone with Amazon logo is seen in front of displayed Indian flag in this illustration taken, Ju... Smartphone with Amazon logo is seen in front of displayed Indian flag in this illustration taken, July 30, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
Smartphone with Amazon logo is seen in front of displayed Indian flag in this illustration taken, July 30, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
Smartphone with Amazon logo is seen in front of displayed Indian flag in this illustration taken, Ju... Smartphone with Amazon logo is seen in front of displayed Indian flag in this illustration taken, July 30, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

Listen to the article now

On Friday, an executive from the firm stated that Amazon (AMZN.O.) plans to add thousands of small merchants to its e-commerce platform in India to reach its goal of item exports from India worth $20 billion by 2025.

“The number of aspiring business owners who signed up to participate this year has given us a lot of cause for optimism. When asked about Amazon’s future intentions for exports, Bhupen Wakankar, director of global commerce, told Reuters on the sidelines of an industry event that the company is “looking to scale up.”

According to Wakankar, there was a very high demand for “Made in India” organic health supplements, homeware such as bath towels and jute rugs, and robotic toys for children in the days leading up to the Black Friday Cyber Monday sale, which began on Friday and lasted for 11 days of shopping.

Amazon Global Trade, the business-to-consumer (B2C) export platform of the e-commerce behemoth, was launched in 2015 with a few merchants. It is now gaining ground in the Indian market.

According to what he stated, the firm has recruited more than 100,000 small producers to sell a wide variety of items to clients in other countries.

“Some of the sellers are first-time exporters, including those who left their corporate jobs to start e-commerce exports,” stated the representative.

According to him, thousands of small exporters who previously had access to global markets have achieved business growth of 70% annually via an e-commerce platform. This platform has offered logistical help and access to more than 200 million Amazon Prime members worldwide.

This comes as a result of India’s goods exports falling by 7% year-on-year during the first seven months of the current fiscal year. The e-commerce platform saw the most increase in the areas of beauty, apparel, home, kitchen, furniture, and toys. This growth was evident across all of the categories.

Holidays like Halloween, Thanksgiving, Black Friday, Cyber Monday, Christmas, and New Year’s were the main drivers of Indian goods sales in markets like the United States, Britain, Canada, and Germany.

Wakankar stated that Amazon has reduced the subscription costs for its worldwide selling program from $120 to $1 for the first three months for exporters who signed up for the program before the 31st of March.


Comment Template

You May Also Like

Uncategorized

Tesla shareholders have accepted Elon Musk’s multibillion-dollar compensation package. The deal is now valued at $44 billion (£34 billion). The package was once worth...

Finance

Here are a few million-dollar rare coins for coin collectors and individuals with small riches. Flowing Hair Silver Dollar, 1794. This rare 1794–1795 coin...

Business

The 50-year U.S.-Saudi petrodollar deal expired recently. Global crude oil transactions employ the U.S. dollar, known as the “petrodollar”. After the U.S. left the...

Finance

The S&P 500 and Nasdaq set record closing highs for a fourth straight day on Thursday as technology shares maintained their climb. Last week,...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok