Free Trial

Amazon to invest $1 billion in India

NEW DELHI (AP) — Amazon founder Jeff Bezos said Wednesday that his company plans to invest $1 billion in digitizing small and medium businesses in India.

Bezos, who is currently on a three-day visit, also said that Amazon is going to use it size, scale and global footprint to export $10 billion in goods made in India by 2025.

He addressed representatives of small and medium businesses in New Delhi. Amazon.com launched e-commerce in India through Amazon India in 2013.

``We are super excited about this. We are making this announcement now because it is working. When something works you should double down on that,” he said.

There are more than 550,000 sellers on Amazon India and more than 60,000 Indian manufacturers and brands are exporting their products to customers worldwide through Amazon, according to the Press Trust of India news agency.

Bezos’s visit comes at a time when the government-appointed Competition Commission of India is investigating alleged deep discounts, preferential listing and exclusionary tactics adopted by Amazon India and its e-commerce rival Flipkart.

The Confederation of All India Traders, an association of about 70 million brick-and-mortar small store owners, says that online retailers were driving small businesses out by offering sharply discounted products.

“I predict that the 21st century is going to be the Indian century,” Bezos said. “In this 21st century, the most important alliance is going to be the alliance between India and the United States, the world’s oldest democracy and the world’s largest democracy.”

Should You Invest $1,000 in Amazon.com Right Now?

Before you consider Amazon.com, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Amazon.com wasn't on the list.

While Amazon.com currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

10 "Recession Proof" Stocks That Will Thrive in Any Market Cover

Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.

Get This Free Report
Like this article? Share it with a colleague.

Companies Mentioned in This Article

CompanyMarketRankâ„¢Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Amazon.com (AMZN)
4.6947 of 5 stars
$223.131.5%N/A36.34Moderate Buy$245.60
Compare These Stocks  Add These Stocks to My Watchlist 

Featured Articles and Offers

Related Videos

5 Stocks to BUY NOW in May 2025

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines