Amazon Plans to Boost Exports From India to $20 Billion
Amazon reportedly plans to expand its merchandise exports from India, with the aim of achieving $20 billion in exports by 2025. The company has been encouraged by the number of entrepreneurs who have signed up to join its eCommerce platform this year, Bhupen Wakankar, director of global trade at Amazon, told Reuters Friday (Nov. 17). Amazon is actively seeking […]
The post Amazon Plans to Boost Exports From India to $20 Billion first appeared on PYMNTS.com.
Amazon reportedly plans to expand its merchandise exports from India, with the aim of achieving $20 billion in exports by 2025.
The company has been encouraged by the number of entrepreneurs who have signed up to join its eCommerce platform this year, Bhupen Wakankar, director of global trade at Amazon, told Reuters Friday (Nov. 17).
Amazon is actively seeking to scale up its operations and leverage this growing interest in eCommerce exports, according to the report. More than 100,000 small manufacturers have already joined Amazon’s platform, offering a diverse range of products to customers overseas. This initiative has not only provided new opportunities for first-time exporters but has also contributed to 70% annual growth in their businesses.
Amazon’s Global Trade platform, launched in 2015 with only a handful of sellers, has gained significant traction in India, the report said. The platform has proven to be a game-changer for small exporters who previously lacked access to global markets. With logistics support and access to over 200 million Amazon Prime members worldwide, these exporters have experienced substantial growth.
Categories such as beauty, apparel, home, kitchen, furniture and toys have witnessed the highest growth on the eCommerce platform, per the report.
Indian products have seen a surge in demand during various holiday seasons, according to the report. International buyers have shown significant interest in “Made in India” products such as organic health supplements, homeware items like bath towels and jute rugs, and robotic games for children.
To encourage more exporters, Amazon has taken steps to reduce barriers to entry, per the report. The company has slashed the subscription fees for its global selling program from $120 to $1 for the first three months for exporters signing up before March 31.
Amazon reported in May that 60% of the sales on its stores come from independent sellers, most of which are small- to medium-sized businesses (SMBs).
“Amazon invests billions of dollars annually to provide entrepreneurs with a constantly improving set of valuable tools and resources to help them gain access to capital, quickly launch in our store, build their brands, and rapidly scale and reach more customers,” Amazon Vice President of Worldwide Selling Partner Services Dharmesh Mehta said when announcing those figures.
For all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.
The post Amazon Plans to Boost Exports From India to $20 Billion first appeared on PYMNTS.com.