As Amazon celebrates its 10th anniversary in India, the company is strategically leveraging its global expertise and experience to navigate the unique dynamics of the Indian market. Manish Tiwary, Vice President and Country Manager of Amazon India’s consumer business, emphasized that while the e-commerce industry requires significant investments in its early stages, Amazon’s global playbook for sustainable growth remains applicable to India.
Drawing on their success in various countries, Amazon is focused on achieving profitability in India by applying their customer-centric approach and carefully considering the specific needs of the Indian market. Tiwary stressed that Amazon India’s journey aligns with the strategies implemented in other countries, and the company has developed a tailored playbook that combines global learnings with local expertise.
While Amazon Seller Services, the operator of Amazon India marketplace, recorded a net loss in the fiscal year 2022, Tiwary highlighted that Amazon’s approach is not about solely prioritizing growth over profitability or vice versa. Instead, they strive for a balanced approach, leveraging global expertise while also adapting to the unique nuances of the Indian market.
As part of their commitment to India, Amazon has made significant pledges, including digitizing small and medium businesses, creating employment opportunities, and driving export growth. The company has been making progress towards these goals, having already reached $5 billion in exports and nearing 4.1 million digitized businesses. Amazon has become a major employer in India, with approximately 110,000-115,000 individuals working for the company.
Tiwary expressed optimism about India’s potential, citing its strong economy, digital mindset, and abundant talent as factors that make it an attractive investment destination for Amazon. Looking ahead, Amazon’s focus in India for the next decade is to acquire the next 200 million customers and expand its inventory points across the country.
India’s large and growing market, coupled with its innovation potential, presents a significant opportunity for Amazon. With their wealth of global experience and a dedicated focus on India, Amazon is determined to catch up and capitalize on the immense potential that the Indian market offers.