Jeff Bezos announces $1bn Indian investment

Jeff Bezos announces $1bn Indian investment

Amazon boss Jeff Bezos has announced a major investment in India, saying the country is a key growth market.

Mr Bezos said his firm will invest $1bn (£770m) in digitising small and medium businesses – allowing them to sell and operate online.

Speaking at a company event in New Delhi, he also said the 21st Century is “going to be the Indian century”.

The e-commerce billionaire’s three-day visit to India is expected to be marred by protests.

Thousands of small traders across 300 cities have planned demonstrations against what they see as Amazon’s negative impact on the local retail market.

They allege Amazon is driving them out of business by offering sharply discounted products and favouring a few big sellers on its platform.

He also said the online retail giant expects to export $10bn worth of India-made goods by 2025.

Source: BBC

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