Amazon crosses $20 billion ecommerce exports target from India in 10 years

The ecom giant targets exports worth $80 billion from the country by 2030

E-commerce (ecom) giant Amazon on Monday said that the company has surpassed the target of $20 billion in cumulative exports from India in the last 10 years and is now eyeing $80 billion worth of outflows by 2030.

 

Under the Amazon Global Selling programme, which was launched in 2015, the company has so far registered over 200,000 exporters, who sell more than 750 million homegrown products. The total seller base of the company has grown by over 33 per cent in the past year.

 

In 2020, Amazon had planned to enable $10 billion in ecom exports by 2025, which was later revised to $20 billion within the same timeline.

 

 

According to the company, the highest 10-year (between 2015 and 2025) compound annual growth rate (CAGR) is seen in categories like health and personal care (45 per cent), beauty (45 per cent), toys (44 per cent), home (39 per cent), apparel (37 per cent), and furniture (36 per cent).

 

“The momentum reflects the ambition of Indian businesses and the growing role of ecom exports in global trade. Building on this success, as we work towards our $80 billion in cumulative ecommerce exports goal by 2030, we are focused on simplifying global selling through technology innovation, capacity building, and ecosystem partnerships. We remain committed to enabling India's ecom export growth in line with the Government of India's goal of reaching $200-$300 billion by 2030,” Srinidhi Kalvapudi, head of Amazon Global Selling India, said.

 

For Amazon, the United States (US) and the European Union are the top two global markets under the programme. However, some other markets also include Germany, Canada, the United Arab Emirates, France, Italy, Spain, and Saudi Arabia.

 

Speaking on how the changes in global trade policies, such as the scrapping of the 'de-minimis' system, impact the company's exports, Kalvapudi said, “It's a long-range story of structural strengths and building capabilities that can compound over a period of time. These are the controllable inputs that we continue to focus on because it's a structural story and not a cyclical one. It is also about building the right capabilities, and we have achieved the numbers ahead of time.” The 'de minimis' exemption earlier allowed packages valued under $800 to enter the US without duties and with minimal inspection.