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Amazon Digitized Over 62 Lakh MSMEs

CIO Insider Team | Friday, 11 August, 2023
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Amazon claims to have digitized over 62 lakh (6.2 million) micro, small, and medium enterprises (MSMEs), enabled almost $ 8 billion in cumulative e-commerce exports, and created over 13 lakh (1.3 million) direct and indirect jobs in India to date.

Amazon has vowed to digitize one crore (10 million) MSMEs, enabling $20 billion in cumulative e-commerce exports, and generate 20 lakh (2 million) employment in India by 2025, and it is on course to do so.

About two years ago, Amazon unveiled the $250 million Amazon Smbhav Venture Fund, which will invest in technology-led startups dedicated to harnessing the potential of a digital India.

The Venture Fund has made multiple investments in the last 24 months, including 'FreshtoHome,' 'XYXX,' 'Hopscotch,' 'Fitterfly,' 'Cashify,' 'MyGlamm,' 'M1xchange,' and'smallcase.

In the last year, Amazon has helped create around 1.4 lakh direct and indirect jobs in areas such as IT, E-commerce, Logistics, Manufacturing, Content Creation, Skill Development, and others, as well as additional indirect jobs in the seller community.

Amazon has digitized over 6.2 million MSMEs, including retailers, craftspeople and weavers, delivery and logistics service partners, and so on.

Furthermore, the corporation stated that its Global Selling initiative is focused on building a strong infrastructure to assist Indian businesses in reaching clients in over 200 countries and territories, generating global brands from India, and growing exports.

“The program is witnessing rapid momentum, and today there are more than 1.25 lakh exporters on the programme who are on track to cross $8 billion in cumulative exports by the end of 2023,” Amazon said.

In the last year, Amazon has helped create around 1.4 lakh direct and indirect jobs in areas such as IT, E-commerce, Logistics, Manufacturing, Content Creation, Skill Development, and others, as well as additional indirect jobs in the seller community.

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