Amazon Aims for $20 Billion in Exports from India by 2025
In a recent statement, an Amazon company official has revealed that the e-commerce giant is targeting merchandise exports worth $20 billion from India by 2025. This ambitious goal will be achieved by onboarding thousands of small sellers onto Amazon's platform.
Bhupen Wakankar, the director of global trade at Amazon, expressed optimism about the company's plans for exports, stating, "We are very encouraged by the number of entrepreneurs who signed up this year. We are looking to scale up." He also highlighted the strong demand for Indian products such as organic health supplements, homeware and robotic games, particularly in anticipation of the Black Friday Cyber Monday sale.
Since its launch in 2015, Amazon Global Trade, the business-to-consumer (B2C) exports platform, has gained significant traction in India. The company has successfully onboarded over 100,000 small manufacturers, enabling them to sell a wide range of products to customers overseas. Wakankar noted that many of these sellers are first-time exporters, including individuals who left their corporate jobs to venture into e-commerce exports.
The e-commerce platform has played a crucial role in facilitating the growth of small exporters by providing logistics support and access to Amazon Prime's vast customer base of over 200 million members worldwide. As a result, these exporters have experienced an impressive 70% annual business growth through the platform.
This announcement comes at a time when India's overall exports have seen a decline of 7% year-on-year during the first seven months of the current fiscal year. However, Amazon's focus on categories like beauty, apparel, home, kitchen, furniture and toys has driven growth on its platform. Furthermore, holidays such as Halloween, Thanksgiving, Black Friday, Cyber Monday, Christmas and New Year have been instrumental in boosting sales of Indian products in markets like the United States, Britain, Canada, Australia and Germany.
To encourage more exporters, Amazon has taken steps to support them. Wakankar mentioned that the company has reduced the subscription fees for its global selling program from $120 to just $1 for the first three months for exporters who sign up before March 31.
Amazon aims to achieve $20 billion in exports from India by 2025.
The company plans to onboard thousands of small sellers onto its e-commerce platform.
Strong demand exists for Indian products, including organic health supplements, homeware and robotic games.