Making major investment announcements for small and medium businesses (SMB), Amazon CEO Jeff Bezos on Wednesday, January 15, said that the 21st century will be the century of India. "I predict that 21st century is going to be the Indian century," Bezos said speaking at the Amazon Smbhav event in New Delhi.
Bezos announced that Amazon would invest $1 billion in digitising SMBs in the country. He further said that the e-commerce major would use its global footprint to export Made in India goods worth $10 billion by 2025.
"I predict that 21st century is going to be the Indian century," he said, adding that apart from the dynamism it has, India is a democracy which is a major characteristic of the country.
Bezos on US-India's bilateral relations
He also observed that in terms of alliances, the 21st century would be about the bilateral relations between the US and India.
Bezos' visit to India comes at a crucial time as the Competition Commission of India has ordered an enquiry into the business practices of the e-commerce majors Amazon and Flipkart.
"We want Indian e-commerce market free from all glitches, unhealthy and unfair business practices, and till the government takes any action, our national agitation will continue," said Praveen Khandelwal, Secretary General of the Confederation of All India Traders (CAIT).
US-based e-commerce giant Amazon has committed $5.5 billion in India investments and sees the country as a key growth market.
Bezos will meet top government functionaries, business leaders, small enterprises and celebrities during his India visit this week. Amazon has described Smbhav as "a first-of-its-kind mega summit" to bring together more than 3,000 small businesses.