Amazon reiterates commitment towards an Aatma Nirbhar Bharat

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HT Bureau

GUWAHATI, April 19: In the opening session of its flagship event Smbhav, Amazon India on Monday announced a USD 250 mn Amazon Smbhav Venture Fund (the Venture Fund) to invest in startups and entrepreneurs focusing on technology innovations in SMB digitisation, Agriculture and Healthcare. The Venture Fund will invest in technology led startups that are passionate about unlocking possibilities of a digital India and specifically focus on encouraging the best ideas to digitise SMBs (Small & Medium Businesses), drive technology led innovation in agriculture to improve farmer productivity.

Additionally, Amazon announced plans to digitally empower and bring 1mn offline retailers and neighbourhood stores online, on the Amazon India marketplace, by 2025 through the Local Shops on Amazon program. At the same event, Amazon also launched the ‘Spotlight North East’ initiative to bring 50,000 artisans, weavers and small businesses online from the 8 states in the North East region of India by 2025 and to boost exports of key commodities like tea, spices and honey from the region.

Speaking at Smbhav 2021, Amit Agarwal, global senior VP and country head, Amazon India said, “In 2020, we pledged to digitise 10MM SMBs, enable USD 10B in exports, and create 1MM jobs by 2025. Through our initiatives, we are committed to be a catalyst and a partner in unlocking the possibilities for a Digital India, and realise the vision of an Aatma Nirbhar Bharat as put forth by the Hon’ble PM. The launch of Amazon Smbhav Venture Fund aims to attract the best ideas and empower entrepreneurs in the country to partner in this vision. Additionally, our initiatives to on-board 1MM offline shops on and digitally empower the North East region will accelerate the progress towards a digital and self-reliant India.”

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