- To begin with, Amazon will start manufacturing Amazon Fire TV sticks from India.
- Amazon’s announcement came after a virtual meeting between Ravi Shankar Prasad, Union Minister for Electronics & Information Technology and Amit Agarwal, Head of Amazon India & Amazon’s Global Senior Vice-President.
Benefits
- It will increase the domestic production capacities & help in creation of jobs.
- It will also further Indian Government’s mission of ‘Atma Nirbhar Bharat’.
Background
- Amazon has pledged to invest USD 1 Billion to digitise 10 Million Small and Medium businesses to help Indian businesses sell worldwide. The investment will enable USD 10 Billion in Cumulative Exports and create additional 1 Million Jobs by 2025.
Global Market for India’s Artisans & Ayurvedic Products:
During the meeting, Union Minister Ravi Shankar Prasad had asked Amazon India’s help to take India’s Artisans & Ayurvedic products to global markets through its platform.
Fact:
In July, 2020, Apple started manufacturing iPhone11 at Foxconn’s Chennai Plant. It was the 1st time that Apple has brought manufacturing of Iphone to India.
Recent Related News:
i.On December 9, 2020, CII signed a MoU with Amazon India (amazon.in) to enable benefits of Electronic(e)-commerce to Micro Small and Medium Enterprises (MSMEs) in 10 states across India.
About Amazon India:
Manager (Country Head of India) – Amit Agarwal
Headquarters – Hyderabad, Telangana
About Amazon:
Founder & CEO– Jeff Bezos (Recently in News)
Headquarters– Washington, United States
