Under 100 Words: A Compact Summary
Amazon achieved $8 billion in Indian exports in 2023, moving towards a $20 billion target by 2025. It exceeded $5 billion in 2022. Bhupen Wakankar emphasized customer focus amid competition. Key export categories include toys, home products, beauty, and furniture, with the U.S. as the primary market. Strategic partnerships, technology advancements, and successful sales events contribute to Amazon’s growth (Amazon’s Exports from India).
- Amazon, the e-commerce giant, announced surpassing $8 billion in cumulative exports from India in 2023 and is on track to reach its ambitious $20 billion export target by 2025.
- The company, headquartered in Seattle, had achieved $5 billion in exports in 2022. Bhupen Wakankar, Director of Global Trade at Amazon India, expressed optimism, stating, “We are encouraged by the growth we have seen… The momentum is there.”
- Amazon, which initiated exports from India seven years ago, needs to more than double its exports by 2025 to achieve the $20 billion target (Amazon’s Exports from India). This development follows Walmart’s announcement that it surpassed $30 billion in cumulative sourcing from India over two decades, with a new goal of $10 billion in annual sourcing by 2027.
- Bhupen Wakankar, Director of Global Trade at Amazon India, commented on competition, stating, “We are customer-obsessed and not competition-obsessed. More players coming in will benefit the seller ecosystem. We are all in this together.”
- Amazon’s fastest-growing export categories include toys, home and kitchen products, beauty products, furniture, and luggage, with leather goods and Ayurveda products also gaining traction, according to Wakankar (Amazon’s Exports from India).
- The United States continues to be Amazon’s primary market for Indian exports, alongside others such as the UK, Canada, Japan, and Germany (Amazon’s Exports from India).
- The company’s key sales events in 2023, including Prime Day in July, Prime Fall Day in October, and the Black Friday sale in November, proved successful for exports from India. Bhupen Wakankar noted, “Depending on the categories, we had anywhere between 40-70 percent growth. Some categories witnessed 100 percent year-on-year growth.”
- In the past year, Amazon has announced various partnerships with central and state governments to boost exports (Amazon’s Exports from India). In November, it signed a memorandum of understanding (MoU) with the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, to collaborate on capacity-building sessions, training, and workshops for MSMEs across 75 identified districts.
- During its fourth Smbhav Summit in August, Amazon signed a Memorandum of Understanding (MoU) with India Post to establish an integrated cross-border logistics solution, aimed at boosting Indian exports.
- The company also emerged as one of the first e-commerce entities to utilize the Railways’ Dedicated Freight Corridor (DFC) to expedite product deliveries (Amazon’s Exports from India).
- Bhupen Wakankar highlighted advancements in cross-border logistics, stating, “In cross-border logistics, from India, we now have a full container and a partial container ocean offering. We have an air offering with multiple carriers now. So, we continue to build that side as well.”
- Additionally, he mentioned the company’s emphasis on enhancing its technology stack, particularly in market intelligence, with significant investments in machine learning and generative AI.
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