27 February 2020

Jeff Bezos announced $1 B investment in India

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Angry local Indian traders vowed Wednesday to stage protests against the world's richest man Jeff Bezos as the Amazon tycoon started a visit to the South Asian country even as authorities launched an antitrust investigation into e-commerce giants. reports citing foreign media that the billionaire e-commerce magnate, who is on a three-day visit, said his company will invest 1 billion U.S. dollars in digitizing small- and medium-sized businesses in India and expects to export 10 billion U.S. dollars' worth of India-made goods by 2025.

"The dynamism, the energy... the growth. This country has something special and it's a democracy," Bezos said.

The Amazon founder, whose worth is estimated at more than 110 billion U.S. dollars, speaking at a company event in New Delhi. He is expected to meet business leaders and senior government officials, according to sources.

Media reports said Bezos has sought a meeting with Indian Prime Minister Narendra Modi, but neither the government nor Amazon would confirm if talks would be held.

Amazon has committed 5.5 billion U.S. dollars in investments in India and sees the country as a key growth market.

2020.01.15 / 14:27
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