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Committed To Excellence – BW Businessworld

Committed To Excellence – BW Businessworld

Rank 5- Amazon India 

Amit Agarwal, SVP India & Emerging Markets 

Overall Avg. Score: 2.98 

Revenue: Rs 16,379 crore 

Every Amazonian is guided by Amazon’s leadership principles such as customer obsession, ownership, inventing and simplifying things and having a bias for action among others.  

Amazon India is in the top five of the BW Businessworld Most Respected Companies list this year based on high scores on parameters like ‘trustworthy leadership’, ‘financial returns’ and the ‘work culture’.  

For the success of small Indian businesses, Amazon India is doing a lot, especially in the past three years. Earlier this month, Amazon unveiled the Exports Digest 2022 and announced that cumulative exports by Indian exporters on the Amazon Global Selling programme are on track to surpass the $5 billion milestones. This is indeed a very big achievement. The company said this programme took about three years to enable the first billion dollars. “The last two billion dollars have come in just 17 months,” it said.  

The programme has been witnessing remarkable adoption amongst businesses of all sizes across the country and has grown to more than 1 lakh exporters since its launch in 2015. These exporters are showcasing millions of ‘Made in India’ products to customers worldwide through Amazon’s 18 international websites in countries such as the US, UK, UAE, Canada, Mexico, Germany, Italy, France, Spain, Netherlands, Turkey, Brazil, Japan, Australia, and Singapore.  

Enabling Indian exports  

Encouraged by the rapid growth that the programme has been witnessing, Amazon has doubled its exports pledge to now enable USD 20 billion in cumulative exports from India by 2025. Amazon Global Selling is a flagship programme that helps lower the entry barrier for Indian MSMEs to start or expand their exports business using e-commerce.  

Amazon India has also introduced several initiatives to promote the growth of small businesses across the country and now has over 10 lakh sellers on its marketplace, out of which over 90 per cent are MSMEs.  

In February, the company said that in partnership with over 60 NGOs, government bodies and SHGs, Amazon Saheli was able to impact the livelihoods of over 1 million women entrepreneurs. Through the Karigar programme, Amazon impacted 13 lakh artisans and weavers including tribal communities in India, giving them an opportunity to sell their original handloom and hand-crafted products to a large customer base directly, in partnership with government emporiums across various states. 

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Impressive revenue growth 

On financial returns, Amazon Seller Services, the India online marketplace unit of the ecommerce giant, saw its revenue from operations grow 49.3 per cent to Rs 16,200.3 crore for FY21. It also saw its losses narrowing to Rs 4,748.1 crore for the financial year 2020-21 from the previous year. Amazon Seller Services had recorded a net loss of Rs 5,849.2 crore, while its revenue from operations stood at Rs 10,847.6 crore in FY20. 

Meanwhile, Amazon India in April this year acquired GlowRoad, the social commerce startup in an all-cash deal, as per media reports. In a statement, an Amazon spokesperson confirmed the acquisition, saying the move will help the company make inroads with its commitment to digitising the nation’s 10 million businesses by 2025. Amazon, which has invested over $6.5 billion in its India operations, added: “Amazon continues to explore new ways to digitise India and delight customers, micro-entrepreneurs and sellers and bringing GlowRoad onboard is a key step in this direction.” 

“Together with GlowRoad, Amazon will help accelerate entrepreneurship among millions of creators, homemakers, students, and small sellers from across the country,” it added. 

GlowRoad sells products to customers at wholesale prices and helps them resell on Facebook and WhatsApp. It also provides them with a logistics network and the ability to collect cash. The company website of this startup says it has built a network of over 6 million resellers who on average earn Rs 35,000 per month. We wish all the best to Amazon India.  

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