Amazon India announced a $250 million “Smbhav venture fund” to invest in start-ups and entrepreneurs, focussing on technology innovations in the domain of small and medium enterprises. This fund focus on the three big areas:
1. digitalization of small businesses,
2. Agri-tech innovations for farmer productivity,
3. To give a quality health care.
Amazon launched the local shops on amazon program to help bring offline retailers and neighbourhood stores online and supplement footfalls at their stores with the digital presence on Amazon. This announcement was made for a part of Amazon India’s 4-day long flagship event Amazon Smbhav Summit for small and medium enterprises.
The company said it close to 70000 sellers on its platform exporting Indian goods to global geographies, enabling $3 billion in global sales from the country.