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- Amazon CEO Jeff Bezos visited India this week for the primary time in additional than 5 years.
- Bezos has been out and about, flying kites with youngsters, visiting Mahatma Gandhi’s tomb, and dressing in Indian clothes.
- However his go to has additionally been controversial: shortly earlier than he arrived, India’s antitrust regulators opened an investigation into Amazon, and enterprise house owners have been protesting Bezos and Amazon.
- Go to Enterprise Insider’s homepage for extra tales.
Jeff Bezos has had a busy week.
The Amazon CEO visited India this week for the primary time in additional than 5 years, assembly with enterprise leaders, paying his respects at Mahatma Gandhi’s tomb, and even flying a kite.
Within the course of, he introduced that Amazon can be investing $1 billion in India, serving to small enterprise house owners digitize their operations.
However Bezos’ go to has been controversial: shortly earlier than he arrived, India’s antitrust regulators opened an investigation into Amazon. And enterprise house owners in 300 Indian cities have been protesting Bezos and Amazon, carrying indicators that say “Jeff Bezos return!”
India is a vital marketplace for Amazon. The corporate has been battling it out for market share with Indian ecommerce platform Flipkart, and thus far, Flipkart is profitable, if solely by a slim margin: As of 2018, the corporate had 31.9% of India’s market share, versus Amazon with 31.2%, in accordance with Forrester knowledge cited by S&P International Market Intelligence.
This is a take a look at Bezos’ go to thus far.
Bezos started his journey with a go to to the tomb of Mahatma Gandhi. “Spent an attractive afternoon paying my respects to somebody who really modified the world,” Bezos wrote in an Instagram video of the go to.
Bezos obtained to chill out a bit with some faculty youngsters, even efficiently flying a kite. “I have never flown a kite in a very long time,” he stated to one of many youngsters. “It brings again reminiscences.” He provided excessive fives throughout after it was over.
Bezos has wearing Indian clothes all through his go to to date. Whereas flying kites, he wearing a kurta and wore his signature Garrett Leight sun shades. Whereas the designer does not seem to promote Bezos’ actual pair anymore, an analogous choice retails for $395.
Supply: Garrett Leight
For the go to to Ghandi’s tomb, Bezos donned a Nehru vest. It is the identical sort of piece he wore throughout a hearth chat with Amazon’s India Chief, Amit Agarwal. Bezos stated in the course of the speak that it was given to him by one of many small enterprise house owners outdoors the occasion.
Supply: Bloomberg Quint
Bezos introduced through the speak that Amazon can be investing $1 billion in digitizing India’s small- and medium-sized companies. By 2025, Amazon goals to export $10 billion value of products from India, he stated.
Supply: Enterprise Insider
Bezos’ India go to hasn’t been with out controversy, nevertheless. Proper earlier than he arrived, India’s antitrust physique opened an investigation into Amazon’s enterprise practices after small merchants complained about how a lot energy the corporate has over the market. The regulators are investigating Indian e-commerce firm Flipkart as nicely.
Supply: The New York Occasions
And Bezos’ presence in India has attracted protests from Indians who say Amazon is undercutting enterprise house owners in worth, subsequently driving them out of enterprise. The Confederation of All India Merchants has gone so far as to explain Bezos as an “financial terrorist.”
Nonetheless, Bezos expressed optimism for Amazon’s enterprise within the nation, and stated he thinks within the twenty first century, “an important alliance goes to be the alliance between India and the USA, the world’s oldest democracy and the world’s largest democracy.”
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