Amazon is making a significant move in India by setting aside $120 million through its Smbhav Venture Fund. Amazon India aims to support startups focused on digitizing consumer goods manufacturing through this investment, catering to both local and international markets. The initiative is expected to create thousands of jobs and boost India’s position as a global manufacturing hub.
As part of its ambitious plans, Amazon has committed to enabling over $80 billion in cumulative exports from India by 2030. This goal will be achieved through Amazon’s Global Selling program, which empowers Indian MSMEs, manufacturers, and direct-to-consumer (D2C) startups to reach international markets. Products from sectors like home and kitchen, apparel, toys, health supplements, and Ayurveda will be prominently featured on Amazon’s global platforms.
Highlights from the Smbhav Summit
The announcements were made during the fifth annual Smbhav Summit, where Amazon emphasized its role in driving innovation and exports. Union Minister Nitin Gadkari praised Amazon’s efforts, highlighting their impact on logistics, rural empowerment, and fostering innovation. Gadkari noted that private sector contributions like Amazon’s are essential for India’s journey toward becoming a global economic leader.
India is one of the fastest-growing economies, and our goals align well with the government’s vision of digitizing small businesses, boosting exports, and creating jobs.
Amit Agarwal, Senior Vice President, Emerging Markets at Amazon
Launched in 2021, the Smbhav Venture Fund was designed to invest in technology startups aimed at advancing a digital India. With this latest announcement, the fund is expanding its scope to include manufacturing startups alongside its existing focus on technology, logistics, and sustainability. The overall fund size has now increased to $350 million, reflecting Amazon’s strong commitment to fostering innovation in India.
Vision for Growth in India
Amit Agarwal, Senior Vice President for Emerging Markets at Amazon, expressed optimism about the future of Amazon in India. Agarwal reinforced Amazon’s dedication to contributing to India’s economic growth by investing in key sectors.
Amazon’s initiatives not only support startups but also create new opportunities for innovation, employment, and global trade. By leveraging its logistics expertise and digital infrastructure, Amazon is playing a pivotal role in India’s journey toward economic transformation. With this new investment and export goals, Amazon continues to strengthen its commitment to India’s development.
