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Amazon To Invest $1 Billion In Small Business In India Says Jeff Bezos
On January 15, Amazon hosted a company event in New Delhi's Jawaharlal Nehru stadium where CEO Jeff Bezos was also present. At the event, Bezos said that the company is investing $1 billion to support small businesses in India. He also added that Amazon is planning to export goods from the country of worth $10 billion by 2025 under the Make in India program.
The announcement was done after CCI (Competition Commission of India) against e-commerce website Flipkart and Amazon starting this week.
"The dynamism, the energy... the growth. This country has something special and it's a democracy," NDTV quoted said billionaire Jeff Bezos.
Bezos has also met Prime Minister Narendra Modi during his India visit. His first meet with Modi was back in 2016 at an event in Washington, after which he announced that the company is willing to invest $5 Billion in India.
Meanwhile, it has also been reported that members of Confederation of All India Traders (CAIT) which is a small traders union are holding a protest against Amazon across 300 cities in the country. The protest will be accusing Amazon of violation India's Foreign Direct Investment rules.
"We want Indian e-commerce market free from all glitches, unhealthy and unfair business practices, and till the government takes any action, our national agitation will continue," said Praveen Khandelwal, Secretary-General of the Confederation of All India Traders (CAIT).
On the other hand, Walmart-owned Flipkart has announced that it is reviewing the order and it has complete information about the complaint. CCI's order was followed by Delhi Vyapar Mahasangh, a group which represents small business. The group has claimed that the Flipkart and Amazon both practice over discount sales.
The CCI 11-page order claims that both the e-commerce websites had asked sellers to suffer a part of discount during big sales like Big Billion Days and Great Indian Festival Sale.
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