Indian startups to take over the Amazons of the world: Amitabh Kant

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Indian startups to take over the Amazons of the world: Amitabh Kant

“Ecommerce cannot be stopped and is only going to grow stronger,” Niti Aayog CEO Amitabh Kant said at the India Economic Summit, organised by the World Economic Forum and the Confederation of Indian Industry.
While favouring liberalization of the economy so that startups can benefit from foreign investment, Kant said,”Small retailers must embrace technology and ecommerce alongside brick and mortar stores,”“Ecommerce in India is a $25 billion market right now… I can say with confidence it will become $300 billion by 2025,” he added.

He said that startups do not need any protectionist policies and since the government has opened up almost every sector in the last two years it cannot backtrack now.“Indian startups have the ability to take over the Amazons of the world through their understanding of the Indian market,” Kant said.

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