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Amazon, Flipkart and Jiomart want to equip Indian micro, small, and medium enterprises (MSMEs)

Jio Mart, Amazon India and Flipkart want to grow their business with small businesses, as they see a lot of benefit in helping them. India’s unorganised sector is about 88%, which big-tech companies are after.

Jio Mart launched in December. It will equip the neighbourhood grocery stores with points of sale (PoS) terminals, low interest working capital, inventory management skills, and GST compliance.Amazon India will spend INR 7500cr ( $ 1bn) to digitise small and medium businesses. Walmart and Flipkart organised a programme for artisans; Samarth. It offers dedicated support for onboarding, cataloguing, account management, business insights and warehousing support.

Jeff Bezos said, “Over the next five years, Amazon will invest an incremental USD 1 billion to digitise micro and small businesses… across India, helping them reach more customers than ever before. This initiative will use Amazon’s global footprint to create USD 10 billion in India exports by 2025.”

As per Business Insider, there are 20 million SMEs. Their annual income is about INR 10lakhs to INR 15 lakhs. By 2025 there will be 2.6 crore SMEs, with the annual income of about INR 20 lakhs. Without economic reforms, big money from big tech may not help much.

Read more: U.S. Tech Giants Bet Big on India. Link