Bhupen Wakankar, Director of Global Trade at Amazon, elaborated the contribution of Amazon in empowering sellers and brands to expand their reach internationally, in light of the booming e-commerce exports. He also emphasised the ‘Make in India’ initiative for worldwide markets.
Speaking at a keynote session at TechSparks 2023 in New Delhi, Wakankar detailed how Amazon Global Selling, a platform set up in 2015, enables Indian exporters to access global markets and connects India to the global ecosystem.
According to an IBEF report, the e-commerce sector is expected to reach $350 billion by 2030.
Highlighting Amazon’s ambitious targets, Wakankar said, “The initial goal was of achieving a cumulative e-commerce export (from India) worth $10 billion by 2025. Surpassing the halfway mark in 2022 prompted a revised aspiration: aiming for 20 billion dollars by 2025, signifying a notable shift in the ecosystem’s trajectory.”
Wakankar also touched upon the potential of Indian entrepreneurs to create global brands, citing the substantial opportunities in the more formalised e-commerce markets outside India.
“Direct-to-consumer (D2C) emerged as a promising avenue within the expansive $17 trillion global e-commerce landscape, anticipated to grow substantially to $71 trillion by 2028,” he said.
Addressing the complexities of global customer shipping, Wakankar highlighted Amazon’s support through market insights, logistics simplification, streamlined cross-border payments, a network of service providers, and essential guidance for sellers.
Government data, as referenced by Wakankar, forecasts e-commerce exports to contribute $200 billion – $300 billion to India’s overall exports by 2030. The government’s recognition of the e-commerce sector signifies the acknowledgment of its potential within the economic landscape.
Edited by Swetha Kannan
