Amazon founder and chief executive Jeff Bezos has unveiled plans to invest $1bn (£770m) in the Indian ecommerce sector.
Bezos said the online goliath will invest in digitising small and medium-sized businesses throughout India, enabling them to sell and operate online.
The Amazon founder said at a company event in New Delhi that the 21st century is “going to be the Indian century” aided by the country’s “dynamism, energy [and] growth”.
“This country has something special – and it’s a democracy” he added.
Bezos said Amazon plans to export $10bn worth of India-made goods in five years time and the online giant has already committed $5.5bn investment in the country.
This proclamation will see Amazon ramp up its battle with Walmart for dominance in the market, after the US grocer beat Amazon to acquire Indian ecommerce business Flipkart for $16bn in 2018.
Both companies suffered a setback in their ambitions in the country last year, however, when the Indian government introduced new laws that restrict foreign-owned online retailers from selling goods from their own subsidiaries.
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