Rank 5 – Amazon India
Amit Agarwal, SVP India and Emerging Markets
Avg. Rating: 2.98
Income: Rs 16,379 crore
Every Amazonian is guided by Amazon’s leadership principles such as Customer Obsession, Ownership, Inventing and Simplifying Things, and Inclination for Action, among others.
Amazon India is in the top five of BW Businessworld’s Most Respected Companies list this year based on high scores on metrics such as “trustworthy leadership”, “financial returns” and “work culture”.
For the success of Indian small businesses, Amazon India is doing a lot, especially in the last three years. Earlier this month, Amazon unveiled Exports Digest 2022 and announced that Indian exporters’ cumulative exports under the Amazon Global Selling program are on track to surpass $5 billion. It is indeed a great achievement. The company said this program took about three years to enable the first billion dollars. “The last two billion dollars came in just 17 months,” he said.
The program has seen remarkable adoption among businesses of all sizes across the country and has grown to over one million exporters since its launch in 2015. These exporters are showcasing millions of “Made in India” products to customers across the country. worldwide through Amazon’s 18 global websites. in countries such as USA, UK, UAE, Canada, Mexico, Germany, Italy, France, Spain, Netherlands, Turkey, Brazil, Japan, Australia and Singapore.
Allow Indian exports
Encouraged by the rapid growth the program has seen, Amazon has doubled its export commitment to now enable $20 billion in cumulative exports from India by 2025. Amazon Global Selling is a flagship program that helps reduce the entry barrier for Indian MSMEs. or expand their export business using e-commerce.
Amazon India has also launched several initiatives to promote the growth of small businesses across the country and now has over 10,000 sellers in its marketplace, of which more than 90% are MSMEs.
In February, the company said that in partnership with more than 60 NGOs, government agencies, and SHGs, Amazon Saheli was able to impact the livelihoods of more than one million women entrepreneurs. Through the Karigar program, Amazon has reached 13 lakh artisans and weavers, including tribal communities in India, giving them the opportunity to directly sell their loom and original handicrafts to a wide customer base, in partnership with government emporiums in various states.
Impressive revenue growth
In terms of financial returns, Amazon Seller Services, the Indian online market unit of the e-commerce giant, saw its operating revenue increase by 49.3% to Rs 16,200.3 crore for l 21. It also saw its losses narrow to Rs 4,748.1 crore for the 2020-21 financial year from the previous year. Amazon Seller Services had recorded a net loss of Rs 5,849.2 crore, while its operating revenue stood at Rs 10,847.6 crore in FY20.
Meanwhile, Amazon India acquired social commerce startup GlowRoad in April this year in an all-cash deal, according to media reports. In a statement, an Amazon spokesperson confirmed the acquisition, saying the move will help the company advance its commitment to digitize all 10 million businesses nationwide by 2025. Amazon, which invested more than $6.5 billion in its India operations, added, “Amazon continues to explore new ways to digitize India and delight customers, micro-entrepreneurs and sellers and the integration of GlowRoad is a key step in this direction.
“With GlowRoad, Amazon will help accelerate entrepreneurship among millions of creators, homemakers, students and small sellers across the country,” he added.
GlowRoad sells products to customers at wholesale prices and helps them resell them on Facebook and WhatsApp. It also provides them with a logistics network and the ability to collect money. This startup’s website says it has built a network of over 6 million resellers who earn an average of Rs 35,000 per month. We wish Amazon India all the best.