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Amazon in India: Jeff Bezos reports $1bn Indian speculation

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Amazon boss Jeff benzo has announced a major investment in India, saying the country is a key growth market.

Mr Bezos said his firm will invest $1bn (£770m) in digitising small and medium businesses Рallowing them to sell and operate online.

Speaking at a company event in New Delhi, he also said the 21st Century is “going to be the Indian century”.

The e-commerce billionaire’s three-day visit to India is expected to be marred by protests.

Thousands of small traders across 300 cities have planned demonstrations against what they see as Amazon’s negative impact on the local retail market.

They allege Amazon is driving them out of business by offering sharply discounted products and favouring a few big sellers on its platform.

During the present location Mr Bezos stated: “The dynamism, the vitality‚Ķ the development. This nation has something uncommon – and it’s a majority rule government.”

He likewise said the online retail monster hopes to send out $10bn worth of India-made merchandise by 2025, and that Amazon has just dedicated to $5.5bn of interest in the nation.

India’s online business showcase is as of now commanded by Amazon and Flipkart, which is possessed by US retail monster Walmart.

Be that as it may, the two organizations endured a difficulty a year ago when the Indian government presented new laws that limit remote claimed online retailers from selling merchandise from their very own auxiliaries.