Amazon is the biggest online trading and shopping website all around the world. According to CNBC, the revenue generated by Amazon in the 1st quarter of 2020 is $75.45 Billion. Only amazon web services generated a revenue of $10.22 Billion. In contrast, Apple generated revenue of $58.3 Billion. According to Reuters, it was reported on this Monday that the exports of all small and medium sellers in India have topped $2 Billion. That is a great success for a country like India.
In 2015 Amazon launched its first program in India. Since it is growing day by day. At this moment 60k workers are exporting their products from India to other Nations due to Amazon’s online store services. According to experts the growth of $2 Billion will be swelled to $10 Billion by 2025. India is a very big player in the export industry. Amazon $2 Billion is a pinch of what India normally exported per year. Statistically, India exports goods worth $530 Billion each year.
According to the Amazon India Vice President, India took 3 years to export $1Billion and another Billion Dollar was exported in just 18 months. The major reason for the high export by India is sales. Few times a year. These sales are provided to capture the mind of the person. The sale is a word, where a person thinks that something is selling at a cheaper price than its original cost. Sales like Black Friday, Prime Day, Cyber Monday are some of the few sales that increase a lot of exports all around the world.
Starting a small or medium business is not an easy task. According to Amazon, it has good relations with many banks in India. This helps small sellers to get an easy loan from the banks due to Amazon and starts the new business easily. India is very good at making products like jewelry, shoes, leather items, homemade items. These all items are exported abroad by Amazon and increase the export growth of India.
India is competing with China at this time. We all know China for making cheap but good quality products for a very long time. Now India has come to the competition with China. India has skilled workers. They work hard with less salary or it seems low due to the currency difference. Narendra Modi the prime minister of India is saying that India is now becoming a self-reliant country.
