At a corporate event in New Delhi, Amazon CEO Jeff Bezos said the e-commerce giant is investing $ 1 billion in digitizing small businesses in India. He added the company plans to export $ 10 billion in goods through the country's Make in India program by 2025 and its Walmart-owned rival Flipkart earlier this week.
During his visit, Bezos will also meet Prime Minister Narendra Modi. He had previously met Modi at an event in Washington in 2016 and later announced that the company would invest more than $ 5 billion in India in the coming years.
Today, members of the Confederation of All India Traders (CAIT), an association of retailers, are said to be protesting Amazon in 300 cities and violating the rules for foreign direct investment (ADI).
̵1; AICPDF (@AICPDF) January 14, 2020
Last year, the Indian government introduced a law that prevents e-commerce companies from selling their own products. The new standards also asked these companies to limit discounts and cashback promotions.