The Business Bytes
New Delhi, September 9, 2024 (TBB Bureau): Amazon on Monday announced a significant milestone with its flagship e-commerce export program, Amazon Global Selling, which is on track to facilitate over $13 billion in cumulative e-commerce exports from India by the end of 2024. The announcement came during the unveiling of the Exports Digest 2024, an annual report that highlights the program’s growth and success.
Since its launch in 2015, Amazon Global Selling has empowered 1.5 lakh Indian exporters to reach a global customer base, selling over 40 crore ‘Made in India’ products across the world. The program has witnessed a remarkable 20% growth in its seller base over the past year, drawing participation from over 200 Indian cities. Sellers on Amazon Global Selling can tap into 18+ international Amazon marketplaces, including the US, UK, UAE, Saudi Arabia, Canada, Mexico, Germany, Italy, France, Spain, Australia, and Singapore, among others.
Left to right: Aman Jain – Director Public Policy, Amazon India, Jayant Chaudhary, Union Minister of State (Independent Charge) for Skill Development and Entrepreneurship and Minister of State for Education, Bhupen Wakankar – Director Global Trade, Amazon India
Jayant Chaudhary, Union Minister of State (Independent Charge) for Skill Development and Entrepreneurship and Minister of State for Education, highlighted the importance of e-commerce in boosting India’s MSME exports. He stated, “Boosting MSME exports is crucial for our nation’s economic growth, and e-commerce is proving to be a powerful catalyst in this regard. The government is committed to fostering an environment where MSMEs can thrive and expand globally, in alignment with Prime Minister Modi’s vision of an Atmanirbhar Bharat. E-commerce exports, supported by programs like Amazon Global Selling, are instrumental in providing MSMEs with opportunities to showcase their products to a global audience.”
Bhupen Wakankar, Director of Global Trade at Amazon India, emphasized the role of technology in driving e-commerce exports for Indian MSMEs. “Amazon Global Selling is empowering Indian exporters to reach customers globally, and technology is the driving force that is simplifying e-commerce exports for Indian MSMEs. We’re investing significantly in tools and technologies to help sellers optimize their reach, enhance product discovery, and increase sales,” he said. Wakankar further reiterated Amazon’s commitment to enabling $20 billion in cumulative e-commerce exports from India by 2025.
The Exports Digest 2024 reveals the increasing demand for ‘Made in India’ products across global markets. The Amazon Global Selling program now has sellers from all 28 states and 7 union territories of India, underscoring the widespread adoption of e-commerce exports.
Entrepreneurs from various smaller cities have shown exceptional growth. For example, exporters from Anand, Gujarat, achieved sales of $89 million in 2023, while Gautam Buddha Nagar, Uttar Pradesh, reached $47 million. Other cities like Karur in Tamil Nadu and Haridwar in Uttarakhand have also recorded impressive figures, demonstrating the potential of small-town businesses in the global marketplace.
The Exports Digest also highlighted the top growth categories on Amazon Global Selling in 2023, with Beauty products leading at over 40% year-over-year growth, followed by Apparel, Health and Personal Care, Toys, and Home categories. The top international marketplaces for Indian sellers include the United States, United Kingdom, Canada, Germany, France, Italy, Spain, and Mexico.
Entrepreneurs like Mohit and Rahul Yadav, Founders of Minimalist, have leveraged the Amazon Global Selling platform to expand their customer base rapidly in key markets such as the US, UK, Middle East, Singapore, and Australia. They reported a growth of over 135% on Amazon USA and 75%+ on Amazon UK within three years. “Amazon’s FBA program made entering new international markets seamless and cost-effective,” they shared, highlighting the role of Amazon’s technology and data-driven insights in optimizing product listings and identifying new opportunities.
With robust growth figures and ambitious future targets, Amazon’s Global Selling program is not only enhancing India’s global trade footprint but also enabling countless small and medium-sized enterprises to build international brands, contributing significantly to the nation’s economic progress.
