Amazon expands commitment to ‘Viksit Bharat’ at Smbhav Summit

Srinagar, Dec 10: At its fifth annual Smbhav Summit, Amazon announced significant initiatives to support India’s economic growth. The company signed a Memorandum of Understanding with the Department for Promotion of Industry and Internal Trade (DPIIT), earmarking $120 million from its Smbhav Venture Fund to invest in manufacturing startups.

A statement said that Amazon has dramatically expanded its export commitments, now targeting $80 billion in cumulative exports by 2030 – a four-fold increase from its previous pledge. The company aims to digitize and empower small businesses, having already connected over 12 million businesses to the digital economy.

Union Minister Nitin Gadkari praised Amazon’s efforts, highlighting the importance of private-sector collaboration in driving innovation and economic development. Amit Agarwal, Senior VP of Emerging Markets, expressed excitement about contributing to India’s economic growth, the statement said

The company has also launched new logistics services, including Amazon Freight for inter-city transportation and Amazon Shipping for last-mile delivery, covering over 14,000 pin codes. These initiatives align with the government’s vision of creating a robust, digitally-enabled manufacturing ecosystem and supporting small businesses across India.

With these ambitious plans, Amazon continues to strengthen its commitment to India’s economic transformation.