Amazon has announced its new export target for India, aiming to enable $80 billion in cumulative exports by 2030. This ambitious goal represents a significant increase from its initial target of $20 billion by 2025. The move comes as part of Amazon's efforts to strengthen its role in India’s economic growth and global commerce.
During the fifth edition of Amazon's annual Smbhav Summit, the company revealed its plans to empower Indian businesses, particularly MSMEs, manufacturers, and D2C (direct-to-consumer) startups. These initiatives will primarily focus on boosting the export of products made in India. The export targets span various product categories, including Home & Kitchen, Apparel & Textiles, Toys, and Ayurvedic products.
Strategic Partnership with DPIIT
As part of its strategy to support India's growth, Amazon signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT). The goal is to establish India as a global manufacturing hub. Amazon also committed $120 million from its Smbhav Venture Fund to invest in startups focused on digitizing and scaling the manufacturing industry in India. These investments aim to generate thousands of jobs and enhance India’s position in the global supply chain.
Amit Agarwal, Senior VP of Emerging Markets at Amazon, emphasized India’s importance as a key market for Amazon. The company's efforts are aligned with the Indian government's vision of a "Viksit Bharat" and the Prime Minister’s goal of achieving a $5 trillion economy. Amazon aims to further empower small businesses, boost exports, and contribute to job creation.
Amazon also launched new services like Amazon Freight and Amazon Shipping to support businesses across India. These services will provide reliable, cost-effective logistics solutions for middle-mile and last-mile deliveries. With operations across 14,000+ pin codes, these initiatives will ensure businesses of all sizes have access to efficient and scalable delivery systems.
Amazon has already made significant progress on its previous goals. The company surpassed its pledge to digitize 10 million MSMEs by reaching over 12 million. It has also achieved $13 billion in cumulative exports, moving closer to its 2025 target of $20 billion. With a renewed focus on expanding its logistics and investment in manufacturing startups, Amazon is set to further its role in India’s economic development.
Through the expansion of its Smbhav Venture Fund, Amazon has allocated an additional $350 million to startups focused on innovation in manufacturing. This is part of Amazon's broader initiative to digitize and scale India's manufacturing sector. By investing in technology and infrastructure, Amazon is helping create a more robust and sustainable economy in India.