We have a model and that is ‘made in India, for India, and by India; Says, Amazon Country Manager Manish Tiwari
Amazon.com, inc. Is an American multinational technology company based on e-commerce, cloud computing, digital streaming and artificial intelligence.
It is one of the most valuable brands in the world. It is one of the five largest American information technology companies along with Alphabet, Apple, Meta and Microsoft. It’s headquartered in Seattle, Washington, U.S. (Headquarters of Amazon, Seattle, Washington, US). Its CEO is Andy Jassy (CEO of Amazon).
Amazon was founded by Jeff Bezos on July 5, 1994 from his garage in Bellevue, Washington. Initially it worked as an online platform for books. Later it joined the production line.
It has many subsidiaries including Amazon Web Services, Zoox, Kuiper Systsems, Amazon Lab126. Its other subsidiaries include Ring, Twitch, IMDb and Whole Foods Market. The acquisition of Whole Foods for US$13.4 billion in August 2017 gave the company as a retailer
By 2021, it became the world’s largest internet company, online marketplace, AI assistant provider, cloud computing platform and live-streaming service. In 2021, it overtook Walmart as the world’s largest retailer outside China.
Big Opportunity For Amazon In India –
Big opportunity for Amazon in India…We are clear , e-commerce in India is in a very nascent stage. You just have to look around to see what the level of optimism is and what the prospects are ahead of us . For a company with our DNA, digital is at the core of everything we do – whether it’s e-commerce, [Amazon] Kindle or Amazon Prime.
If you look at the fundamentals like growth rate, population, demography, infrastructure or digital progress in India, there are many reasons to feel excited.
What Is The India Strategy All About-
When we started in 2013, the aim was to win here and hence, we wanted a team that understood India. There was a clear global strategy, and we were asked to create something that was good for India.
This is why talent is so important to us. What is better than one lakh (100,000) people sitting outside India! This makes India a powerhouse of innovation.
In the early days, the proportion of organized trade in India was not very high. There was no such thing as a catalogue and if we asked for a catalogue, we would get only stunned looks. India is a different market for many reasons.
The cost of working capital is very high and its backbone is small businessmen. Access to banking services was quite limited, and most people did not understand English .Orders were taken over the phone and if small machines had to be sent to the warehouse, it was a challenge.
So, we decided to go for a new fulfilment model where it will now be picked up. Today, we have ideas originating from India and [they] are being taken to other parts of the world like Latin America and Egypt.
Where will Innovation India be in all this?
If our vision is to change the way we buy and sell in India, this becomes even more important as the next 100 million customers, or the next 10 million sellers, come on board.
We are talking about a market where there is a large population and businesses come up with scale around it. Frankly, we have a long way to go.
It is very easy to tell statistics about the possibilities and opportunities in India, but we have to innovate to succeed. As we all know, it is a very competitive market. If earlier one day delivery was a big deal, now it is done in minutes.
