E-commerce giant Amazon has said it surpassed $8 billion in cumulative exports from India in 2023 and is set to achieve its ambitious target of $20 billion in exports by 2025. The Seattle-headquartered company had achieved $5 billion worth of exports in 2022.
"We are really encouraged by the growth we have seen. We had crossed $5 billion in exports in mid-2022 and we achieved $8 billion by the end of 2023. We believe we are just getting started. The momentum is there," Bhupen Wakankar, Director, Global Trade at Amazon India, told Business Standard.
Amazon, which began exporting from India seven years ago, would have to more than double its exports by 2025 to meet its $20 billion target.
This comes shortly after American retail major Walmart said that it surpassed $30 billion in cumulative sourcing from India in over two decades. It is now targeting $10 billion in annual sourcing by 2027.
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