What if you were a billionaire and ran a multi-billion dollar a month online company? You had the world at your fingertips. Which nation would you invest in next?
That’s the dilemma Amazon and Jeff Bezos face. And they aim to conquer rising economic superpower India. Despite overcrowded streets, slums and homes with no indoor pluming, many take to the Internet and shop Amazon for products they can’t get locally. Amazon leaders predict by 2025, India’s e-commerce will be almost as big as the USA’s. Diego?Piacentini, Amazon VP of International Sales, believes India’s success will be measured in trillions of dollars. Nobody says it’s going to be easy. Keep in mind around 25% have Internet access. Few have ever shopped online. According to the World Bank, nearly a quarter of India‘s population live on less than $1.25 a day. Nevertheless, where some see mountains, others see opportunity. And India has lots of potential. The business language is English. That alone opens many doors for opportunity. Now that smartphone costs are plummeting, and many India incomes are rising, the demand is there. And the 25% who do have Internet access usually have the means to buy. According to Morgan Stanley, e-commerce in India could rake in over $137 billion per year.
Another thing you must realize is India’s population itself. India has approximately 1.25 billion people. That’s second to China’s population (1.38 billion) and nearly 4x the USA population (316 million). Let’s play with some math. Twenty-five percent of India’s population have Internet access, so they can shop online. That’s equivalent to 312 million people. That’s almost the entire US population. Think about the buying power! Unlike?China,?India isn’t under communist law. This gives India more freedom to deal with international companies like Amazon. India is like an economic plum ripe for the picking. Of course, what I’d like to see is more of India’s people have online access so more can prosper. Do you think Amazon can conquer India?