At the fifth edition of its Smbhav Summit, Amazon strengthens its commitment to ‘Viksit Bharat’

· Amazon’s Smbhav Venture Fund signs an MoU with DPIIT to accelerate government’s key priority of establishing India as a global manufacturing hub and create thousands of jobs; earmarks $120 million to invest in manufacturing startups

· Amazon increases its exports commitment 4X; to enable $80 billion in cumulative exports from India by 2030

· Amazon to now offer its world class, reliable and cost-effective logistics services to businesses across India – launches Amazon Freight and Amazon Shipping for middle mile and last mile services

· New initiatives part of Amazon’s long-term commitment to empower small businesses, boost exports and create jobs

New Delhi – December 10, 2024: At the fifth edition of its annual ‘Smbhav Summit’, Amazon announced a series of initiatives strengthening its commitment to ‘Viksit Bharat’. The Smbhav Summit is part of Amazon’s efforts to celebrate, support, and empower India’s small businesses, aiming to accelerate their growth across India and the world. As part of this, Amazon has signed an MoU with DPIIT to accelerate government’s key priority of establishing India as a global manufacturing hub. Amazon has earmarked $120MM from its Smbhav Venture Fund to invest in startups that digitize consumer goods manufacturing in India and cater to domestic and global demand, creating thousands of jobs. Amazon is also increasing its exports commitment four-fold and plans to enable over $80 billion in cumulative exports from India by 2030. This significant milestone will be driven by a combination of enabling exports through Amazon’s Global Selling program for Indian MSMEs, manufacturers and D2C startups as well as sourcing Made-in-India products to be sold on Amazon’s global marketplaces. Amazon will continue to enable exports from various sectors, including Home & Kitchen products, Apparel & Textiles, Toys, Health & Nutrition Supplements, Ayurveda products etc.

In addition, Amazon will now offer its world class, reliable and cost-effective logistics services to businesses across India. The Company has launched ‘Amazon Freight’ for intra-city and inter-city transportation services nationally with full truckload options ranging from 5 ft to 40 ft to accommodate varied capacity requirements and ‘Amazon Shipping’ for last-mile delivery services covering 14,000+ pin codes with best in class promised delivery dates and pick up experience.

Union Minister Shri Nitin Jairam Gadkari, Hon’ble Minister of Road Transport and Highways, Government of India said, “Realizing Government’s vision of a Viksit Bharat requires the active contribution of all stakeholders. Amazon’s initiatives in manufacturing, AI, and exports are greatly appreciated. We value Amazon’s efforts to leverage its logistics expertise across India, empowering businesses from urban centers to rural areas. Such collaborative efforts by the private sector are instrumental in fostering innovation, driving exports, and strengthening logistics infrastructure, propelling India’s journey toward becoming a global economic powerhouse.”

Amit Agarwal, Senior VP, Emerging Markets at Amazon said, “I am incredibly excited about the opportunities that lie ahead for Amazon in India. As one of the world’s fastest-growing economies, India is a key market for Amazon and our focus areas align well with the Government’s vision and priorities of digitizing small businesses, boosting exports and creating jobs. We are committed to investing in these key sectors and look forward to contributing to India’s economic growth and the Hon’ble Prime Minister’s vision of a Viksit Bharat.”

Amazon is on track to fulfil its pledges

Amazon had pledged to digitize 10 million MSMEs, generate $20 billion in cumulative exports from India and create 2 million jobs in India by 2025. The Company is on track to fulfil these pledges. In fact, Amazon has now increased its Exports pledge four-fold and plans to enable $80 billion in cumulative exports by 2030. Samir Kumar, Country Manager, Amazon India said, “Over the last four years, we have invested significant time and effort towards the pledges we announced at the inaugural Smbhav Summit in 2020. We are humbled to share that we have hit our pledge to digitize 10 million small businesses one year ahead of time and have enabled over 12 million small businesses to become a part of the digital economy. We have enabled nearly $13 billion in cumulative exports and have created nearly 1.4 million direct and indirect jobs in India.”

Amazon’s Smbhav Venture Fund to focus on manufacturing and AI startups

Launched in 2021, the fund invests in technology startups aimed at unlocking the potential of a digital India. The Fund is now broadening its focus areas to drive investments in manufacturing startups, in addition to its existing priority sectors. This announcement also marks the expansion of Amazon Smbhav Venture Fund to a $350 million fund.

Amazon to enable $80 billion in cumulative exports by 2030; helping create “Made in India global brands”

Amazon has significantly expanded its commitment to boost exports from India, announcing plans to enable over $80 billion in cumulative exports by 2030. This ambitious target, a substantial increase from the company’s initial pledge of $20 billion by 2025, reflects the strong progress and growing potential of e-commerce exports from India. To achieve this goal, Amazon is collaborating closely with the government, lakhs of Indian small businesses & D2C brands, and other key stakeholders. The company has been working with the Directorate General of Foreign Trade (DGFT) to leverage the Districts as Export Hubs initiative, aiming to boost MSME exports across India. This expanded export target aligns with the government’s priority to increase MSME exports. Through these efforts, Amazon demonstrates its commitment to supporting India’s small and medium businesses, helping them scale beyond borders, and playing a crucial role in the country’s economic growth and job creation.

Amazon extends its logistics services to businesses across India

Over the past decade, Amazon has built a world class logistics network suited to India’s diverse market. This network now reaches from big cities to small villages, tackling unique local challenges. With Amazon Shipping and Amazon Freight, Amazon is now offering its logistics expertise to businesses across India. These services provide clear pricing and easy integration, streamlining logistics for companies of all sizes – for B2B and B2C operations. By extending its tested and proven logistics solutions, Amazon is helping meet the growing need for reliable, cost-effective shipping in India’s fast-changing online retail landscape.

Amazon Freight, piloted earlier this year, offers streamlined full truckload freight services for intra-city and inter-city transportation. It leverages Amazon’s extensive logistics network to enable seamless movement of goods to fulfillment centers and between cities. The service eliminates multiple intermediaries, reducing complexity and costs associated with traditional full truckload bookings. Amazon Freight provides dedicated account managers, 24/7 support, electronic proof of delivery, and automated tracking.

Amazon Shipping, piloted in 2021, is optimized for last-mile B2C parcel deliveries. It offers transparent pricing, real-time tracking, rescheduling tools, and daily cash on delivery (COD) remittance. The service is built on a strong tech stack that supports end-to-end tracking, multiple integration options, claim management, and an online portal for account management.