Amazon has announced that total exports from Indian sellers have crossed a remarkable $2 billion mark. Amazon launched the ‘Global Selling Program (GSP)’ for Indian sellers in 2015, aiming to take the Indian products to the global markets.
Amazon claims that more than 60,000 Indian sellers had helped to export products to 15 Amazon websites through Amazon’s “Global Selling” program, which was operational in other markets.
In his recent visit to India, Amazon founder Jeff Bezos said the company would invest $1 billion on digitizing small and medium businesses in India.
Amit Agarwal, Senior VP of Amazon India, said, “MSMEs are the backbone of the Indian economy. We want to contribute to digitizing them so that it may boost export & job creation.”
In an interview with Gopal Pillai, VP for seller services at Amazon India said that “It took us three years plus to hit the first billion dollars and today we are capable of achieving the next billion dollars in the last 18 months. Amazon has previously announced that it had tied up with Indian banks to provide cheap loans to its small sellers to help them to uplift their production.
"Abhijit Kamra, head of global trade at Amazon India, said, “The US is the biggest market for Amazon India exporters. Apart from other categories, apparel, jewelry, home items & leather products led the export.”
This export boost comes as India is trying to cut cheap imports from China, with Prime Minister Narendra Modi calling for the country to be “self-reliant” or “Atma-nirbhar”. Looking at these trends, the Indian-made goods' export is expected to reach $10 billion by 2025.