Amazon Chief Executive Jeff Bezos has made amazing announcements. What all has he said and what can be made out all this? Read and find out below.
Once our Prime Minister Narendra Modi said while addressing a rally that he has got some really good fate. That was in context of declining oil prices.
But, we believe that he has actually got a good fate because it usually happens that whenever there’s a problem that the Government of India is not able to tackle properly, coincidentally something happens which aids in momentary escape from the issue. And, one such thing has happened once again.
You would have heard a lot about slowing economy and stagnation in ‘Make in India’. While the people were about to believe that the government is floundering big time with these issues, there came Jeff Bezos, the Founder and Chief Executive of Amazon on his India tour.
He brought with himself an announcement that forced us to prepare this edition of our newsletter. Read on to find out the details.
What’s the Announcement?
Before jumping on to the announcement we would like you to know that Jeff Bezos is an American and doesn’t belong to the ruling political party or RSS and, neither does he support the ideology of our Prime Minister in any way. This is important for you to know because the opposition parties might try accusing him of this and just in case you tend to believe them (Just in case).
So, Jeff Bezos has announced that Amazon India would invest $1 Billion for the digitization of small businesses. And, also Amazon would use its worldwide presence to export ‘Make in India’ goods worth $10 Billion by 2025. Wow! That’s what you call a billion-dollars’ announcement. Isn’t it?
How Shall This be Executed?
Any announcement or claim looks attractive when it is made. The ‘moment of truth’ starts from the planning phase and the complete reality comes to fore in the execution phase. So, now as the announcement made of Mr. Bezos sounds awesome, we are more concerned with the execution of the same. Amazon has partially revealed their plan of action which is as follows.
They call this as ‘SMBhav’ initiative under which, they’ll establish ‘Digital Haats’ in 100 cities. These centers will act as digitization hubs for the small and medium businesses functional in that local area. In fact, those small or medium businesses would not even require prior registration with Amazon as a seller. This condition might act as a catalyst for those businesses to pursue digitization.
Besides making the aforementioned announcements, Bezos also said that “The 21st century is going to be the Indian century.” This means a lot as it comes from the leader of a company that’s a global leader in what it does with no competition till far off. Not only Bezos has shown faith in small and medium businesses of India but also, the ‘Make in India’ program that hasn’t probably delivered what was expected out of it.
But, is it just about Amazon or the other mammoth companies also believe that this is going to be the Indian century? Also, how effective would this step be to improve the state of Indian economy, will depend entirely upon the execution and the response from our people.
Is this a small beginning of our dream to become a $5 Trillion economy? Let’s not be on a high horse and keep our expectations as realistic as possible. Because, it’s way too early to judge this happening currently.