Amazon offers small business owners $1 billion in investment in India


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Amazon offers small business owners $1 billion in investment in India

On Wednesday, the 15th of January 2020, world’s No. 1 online retailing industry Goliath, Amazon.com Inc. Chief Executive Jeff Bezos, the world’s richest man on record with net worth of $111.3 billion as of December 31st, 2019, said that his Seattle, Washington-based retailing behemoth would invest a total of $1 billion in a bid to bring in more small businesses online in India, shutting mouths of a flurry of Amazon.com Inc.’s fearsome critics, while Jeff Bezos was found wearing a conventional Indian attire similar to that of Indian Prime Minister Narendra Modi of Bhartiya Janata Party and flying kites with the children.

In point of fact, latest investment announcement from Amazon.com Inc. boss Jeff Bezos came forth a day after the Competition Commission of India (CCI) had launched a broad-based investigation against Walmart Inc.-owned Flipkart India and Amazon.com Inc.

over allegations the world’s No. 1 brick-and-mortar retailer and online retailer respectively had been violating the country’s anti-trust regulations by offering deep discounts and large-scale promotions to bigger sales, leaving the small business-owners seeking to sell their products in online platform almost bare-handed.

Meanwhile, adding that his $1 billion in new investment in Amazon India would bring as little as 10 million small businesses in to Amazon.com Inc.’s e-commerce platform and would enable the small-business owners to export products worth of $10 billion over the period of next five years, Bezos said in a company event at a stadium in New Delhi in front of more than 3,000 small entrepreneurs and business owners on Wednesday (January 15th), “The dynamism, the energy ... the growth. This country has something special. ”