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Indian MSMEs Cross $2 Billion Mark in Amazon’s GSP

Amazon had vowed to enable $10 billion in cumulative exports by 2025
BY BEx Bureau
BusinessEx
Jul 21, 2020

The US-based e-commerce company, Amazon has lately proclaimed that micro, small and medium enterprises (MSMEs) and other brands that are inclusive in the Global Selling Programme (GSP) have crossed the $2 billion mark in cumulative exports.

The company had initiated the GSP programme in 2015. Under this programme, the company permits the Indian firms to export their products to other nations through 15 websites of Amazon. The programme had initially kicked off with a handful of sellers and has now a nexus of more than 60,000 exporters, reported Business Standard.

In January this year, the American e-commerce company had vowed to enable $10 billion in cumulative exports by 2025.

"MSMEs are the backbone of the country's economy and help them to digitise their businesses. The e-commerce company is, thereby, boosting exports and creating jobs that will soar economic growth of the nation,"Amit Agarwal, Senior VP and Country Head Amazon India, told the cited media agency.

"The GSP helps take homegrown businesses global and provides an avenue for MSMEs to build global brands. The programme is witnessing momentous growth. It took three years for the programme to hit exports of $1 billion and now it has grown 100 per cent to hit the next $1 billion in less than 18 months," Agarwal added.

According to the media report, Agarwal said that the programme has helped MSMEs sustain their exports business and in turn, supported hundreds of families amid the Covid-19 pandemic that has led to lockdowns and disruptions in supply chains globally.

"Exports will continue to play a critical role in this revival. GSP is helping local go global. This is more important than ever for our small businesses, and for the nation, as it recovers from unprecedented time. We will continue to empower Indian MSMEs to realise their potential and make exports easy," Agarwal stated.

"The MSME sector contributes about 30 per cent of the growth of the country and about 48 per cent of India's exports," Nitin Gadkari, Union Road Transport and MSME minister, told the cited media agency.

"The focus is on supporting Indian MSMEs to be more successful in the international markets and increasing their share of exports to 60 per cent. The products exported through GSP can be classified as micro, small and medium and making separate categories for handloom, handicrafts and agro-MSMEs," Gadkari stated.

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