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Amazon announces fund for MSMEs in India

April 16, 2021

Amazon announces fund for MSMEs in India

Internet business goliath Amazon on Thursday declared a USD 250 million (about ₹1,873 crore) reserve that will focus on digitizing small and medium organizations, and driving innovation in the areas of agri-tech and health tech in India.

“Small and medium sized organizations are regularly the engine and the backbone of economies and I believe it’s actual in India too. Also, we are energetic about attempting to acceleration of SMBs in fuelling innovation and the economy in India,” Amazon Web Services CEO Andrew Jassy said.

Expanding on a year ago’s announcement, Amazon is reporting another USD 250 million Amazon Smbhav Venture Fund, Jassy, who will take over as the CEO of Amazon Inc in the not-so-distant future, said during the second Amazon Smbhav occasion.

In January 2020, Amazon boss Jeff Bezos reported a speculation of USD 1 billion at the lady release of Amazon Smbhav occasion to carefully enable 10 million Micro, Small and Medium enterprises (MSMEs), enable internet business sends out worth USD 10 billion and make 1,000,000 extra positions in India by 2025.

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