Amazon CEO Jeff Bezos Announces $1 Billion Investment To Digitise Small, Medium Businesses In India

Making major investment announcements for small and medium businesses (SMB), Amazon CEO Jeff Bezos on Wednesday (15 January) said that the 21st century will be the century of India.

Speaking at the Amazon Smbhav event, Bezos announced that Amazon would invest $1 billion in digitising SMBs in the country.

He further said that the e-commerce major would use its global footprint to export Made in India goods worth $10 billion by 2025.

"I predict that 21st century is going to be the Indian century," he said, adding that apart from the dynamism it has, India is a democracy which is a major characteristic of the country.

He also observed that in terms of alliances, the 21st century would be about the bilateral relations between the US and India.

Bezos' visit to India comes at a crucial time as the Competition Commission of India has ordered an enquiry into the business practices of the e-commerce majors Amazon and Flipkart.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)