Ne Delhi: With a staggering economy pinching the hearts of the people in India there is some good news in the market. Amazon.com Inc will invest $1 billion in digitizing small-and medium-business in India and expects to export $10 billion worth of India-made goods by 2025, its founder Jeff Bezos said on Wednesday. Speaking at a company event in New Delhi, Bezos also said he feels the 21st century is “going to be the Indian century.” He also confirmed the company will export $10 billion worth of Make-in-India goods by 2025.
“The dynamism, the energy – the growth, this country has something special and it’s a democracy”, Bezos said. Amazon has committed $5.5 billion in India investments and sees the country as a key growth market. Bezos’ visit, however, is likely to be marred by protests across India from small business owners who allege Amazon is driving them out of business by offering sharply discounted products and favouring select big sellers on its platform. The company denies the allegations.
The Competition Commission of India (CCI) launched the investigation to find out if the exclusive arrangements, deep discounting and preferential listing by e-commerce marketplaces like Amazon and Flipkart for mobile phones are causing an adverse effect on competition. The CCI on Monday passed directions for investigation under Section 26(1) of the Competition Act, 2002.