Amazon To Boost Indian Exports To $5 Bn In 2024: Report

Amazon is set to facilitate USD 5 billion in sales of small-ticket items from Indian exporters this year, a big jump from the nearly USD 3 billion recorded in 2023. 

Through its Global Selling program, launched in 2015, the ecommerce giant has enabled around 1,50,000 small Indian exporters to directly sell products such as textiles, jewelry, household goods and Ayurveda items to international markets, including the United States and the United Kingdom.

Bhupen Wakankar, Amazon’s director of global trade, revealed to Reuters that the company is investing heavily in advanced tools and technologies aimed at improving product discovery and enhancing the sales potential of these small exporters. As part of its broader goal, Amazon plans to help Indian businesses exceed USD 13 billion in cumulative e-commerce exports by the end of 2024, with a target of reaching USD 20 billion by 2025.

Amazon’s push comes at a time when multinational companies are increasingly diversifying their supply chains away from China, positioning India as a growing hub for global trade. Walmart has similarly set ambitious goals, announcing plans to source USD 10 billion annually from India by 2027, up from USD 3 billion in 2020.

While Amazon and Walmart’s investments have transformed India’s retail landscape, they have not been without controversy. India’s commerce minister and trade groups have accused major e-commerce platforms of engaging in predatory pricing practices, which they argue could hurt millions of traditional brick-and-mortar stores across the country. Nevertheless, Amazon remains committed to deepening its presence in India, with plans to increase its overall investment to USD 26 billion by 2030, including expansions in its cloud services.

(Inputs from Reuters)