Amazon India said that it has crossed $1 billion in sales on its 'Global Selling' platform, through which Indian sellers sell to customers around the world.
Recommended ArticlesView All
New Locker Rules — Here's why the RBI has gone overboard
Jan 28, 2023 IST5 Min(s) Read
Meet Padma Shri Awardee Guru K Kalyanasundaram Pillai, the man who is keeping an ancient tradition alive
Jan 27, 2023 IST3 Min(s) Read
This is how the new draft IT rules propose to make online gaming safe
Jan 27, 2023 IST4 Min(s) Read
78 percent Indian workers uneasy about job security amid layoffs: Survey
Jan 27, 2023 IST5 Min(s) Read
Started in 2015, the program currently has 50,000 sellers from India with 140 million products for global customers. In the last four years, the platform has seen ecommerce exports over $1 billion from Indian sellers. The seller base for global selling itself saw a 56 percent increase since last year.
Amazon's target for sales through the 'Global Selling' program is to cross $5 billion by 2023.
Amazon India head Amit Agarwal said the company is working with the Indian government to push exports through this channel and reduce friction for sellers. "We see a huge opportunity for 'Make in India' products going global through Amazon," Agarwal said on Tuesday.
The company said that global sellers from India are seeing 50 percent growth in business year-on-year (YoY).
On impending competition from Reliance, which is set to launch into ecommerce, Agarwal said the company will stay focused on its strategies. "There is a lot of opportunity here. Our approach is to invest in offering the largest selection of products," Agarwal said.
Agarwal also said that the company had shared inputs through the industry on the draft ecommerce policy, which has also made recommendations on increasing ecommerce exports. "We are excited that India is thinking about promoting exports," he added.
The ecommerce giant had to recently change its structure in some seller entities in which it held a stake, after the FDI guidelines came into effect on February 1.
Amazon CFO Brian Oslavsky had said during the company's Q1 earnings call last week that the India business had seen minimal impact from the FDI rules and that the company was now completely compliant.
"From Q1 perspective, FDI policy was a small issue. In Q1 alone, sellers launched 6 million new products. The momentum is not slowing down," said Gopal Pillai, vice president, Seller Services, Amazon India.