Amazon reveals scorching India growth as Walmart fight deepens
Amazon.com Inc. offered a rare peek into the Covid-era growth of its Indian business. While it battles Walmart Inc. in its biggest overseas market.
Moreover, the US online monster said it has enabled exports of Indian-made goods worth $3 billion and created over a million local jobs. Since it began operating in the Asian nation about a decade ago. About $1 billion of that and 3,00,000 jobs since January 2020 alone. Like 2,50,000 new sellers have joined Amazon. Moreover than 50,000 offline retailers and neighborhood stores are now on the platform, the company’s country chief said.
On the other side, the number illustrates the frenetic pace of growth in Indian online retail after the pandemic accelerated buying and selling in segments beyond smartphones and fashion. However, Amazon has to contend with Walmart’s Flipkart and homegrown competitor Reliance Industries Ltd. In India, an increasingly important growth market since Amazon’s exit from China about a decade ago.
Amazon India chief Amit Agarwal said the Seattle giant is on track to fulfill commitments made. When founder Jeff Bezos visited the country in January 2020: to digitally enable 10 million businesses. It handle e-commerce exports worth $10 billion and create 1 million additional jobs in India in the five years to 2025. However, the country, one of the last big consumer markets still up for grabs, will generate $200 billion in e-commerce sales by 2026, Morgan Stanley estimates.
While it’s also a source of talent. Amazon has hired locally in fields like machine learning and software development. But employing an army to staff its giant fulfillment centers. It’s also profiting by helping more than 70,000. Moreover, Indian exporters sell everything from toys and bed linen to jewelry and tea to 300 million customers across 200 countries.