Amazon.com Inc. provided an unusual look at the growing Covid era of its Indian business while battling Walmart Inc. in its large overseas market.
The US-based online giant claims to have enabled $ 3 billion in Indian exports and has created more than a million local jobs since it began operating in Asia about a decade ago – about $ 1 billion of that and 300,000 jobs since January. 2020 only. An estimated 250,000 new retailers have joined Amazon.in since then and more than 50,000 offline retailers and neighboring stores are already on the platform, says the company’s state king.
The numbers show the rapid growth of India’s online sales following the emergence of a buying and selling epidemic with more segments of Smartphones and fashion. But Amazon should face Walmart’s Flipkart and local competition Reliance Industries Ltd. in India, the most important growth market since Amazon’s withdrawal from China nearly a decade ago. American firms also face tightening laws, antitrust surveillance and allegations that have sidelined local players.
Amazon India chief executive Amit Agarwal said the Seattle giant was on track to fulfill its commitments made when founder Jeff Bezos visited the country in January 2020: digitally empowering 10 million businesses, managing $ 10 billion in e-commerce deployments and creating more jobs over the next 10 years. five to 2025.
“Covid-19 has made businesses realize that they need to be more resilient, resilient because there is no concept of offline or offline,” Amazon India chief executive Amit Agarwal said in a telephone interview on Thursday discussing the league’s progress. “The internet is like electricity, everyone will use it.”
Bezos has made India the backbone of its global ambitions, a growing market not only for online goods but also for video and gadget content. The country, one of the last major consumer markets to be held, will generate $ 200 billion in e-commerce sales by 2026, Morgan Stanley estimates.
It is also a source of talent. Amazon employs locally in areas such as machine learning and software development, while using the military to operate its large filling facilities. It is also helpful to help more than 70,000 Indian retailers sell everything from toys and bed linen to jewelery and tea to 300 million customers in 200 countries.
Reliance and Flipkart, who are said to be preparing for the public release in the first four quarters, use the same playbook but Agarwal said Indian e-commerce is still cohesive and could support many key players.
Amazon will focus on local killings while complying with local laws as it evolves, he added. The Department of Commerce and the Department of Information Technology have been considering legal regulations and legislative changes to protect consumer data and eliminate competitive practices, amid growing cyber attacks in the US and China. Agarwal said Amazon was compliant but insisted on a stable regulatory system – especially in a time of global uncertainty – it was important to attract more money to India.
“We are very excited about the testing, our job is to focus on customers and India is a long-term investment in Amazon,” he said. He said it was not the time to make changes. “The changes are very disruptive and any laws that need to be adhered to and changes in our area.”