Amazon says Exports From India-Based Sellers to Cross $80 Billion by 2030

Amazon hosted the fourth edition of its annual Smbhav conference in India today wherein it announced that the exports from India-based sellers will cross the $80 billion mark by 2030. This is four times the target of $20 billion it had set for e-commerce exports by 2025 -- something the company had announced earlier this year.

The company today said that Amazon has enabled over 150,000 registered sellers from over 200 cities across India to collectively surpass $20 billion in cumulative exports from India by 2024-end. Now, it has taken up the target of crossing $80 billion mark in coming six years.

"We are humbled to share that we have hit our pledge to digitise 10 million small businesses one year ahead of time and have enabled over 12 million small businesses to become a part of the digital economy," Samir Kumar, Country Manager, Amazon India, said at Amazon Smbhav 2024 today.

"We have enabled nearly $13 billion in cumulative exports and have created nearly 1.4 million direct and indirect jobs in India," he added.

In addition to this, the company also signed a memorandum of understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) for what it describes as 'accelerating the government’s key priority of establishing India as a global manufacturing hub and creating thousands of jobs'.

Amazon India also said that it has earmarked $120 million from its Smbhav Venture Fund to invest in startups that digitise consumer goods manufacturing in India and cater to both domestic and global demand.

"The move also marks the expansion of Amazon Smbhav Venture Fund to a $350 million fund," Amazon India wrote in a press note today.

For the unversed, Amazon India launched the Amazon Smbhav Venture Fund in 2021. Since its launch, the organisation has invested in a number of startups in the country such as The Good Glamm Group, FreshToHome, XYXX, Hopscotch, Fitterfly, Cashify, Acko Insurance, smallcase, and M1xchange, to name a few.