Amazon’s Jeff Bezos is on a charm campaign to win the hearts of Indians.
The world’s richest man spoke to a packed assembly of local Amazon sellers in New Delhi. Decked out in traditional Indian garb, Bezos pledged to invest $1 billion in India.
- Not impressed. Many protested, saying Amazon has unfair business practices and the new investment will hurt Indian retailers.
- Billions. Altogether, Amazon will spend over $6 billion to build out its Indian businesses.
Pander Much? Bezos said the 21st century will be “the Indian century” and closed his speech with a clasped-hand bow to the audience. The crowd ate it up.
How does it affect my wallet?
India is clamping down on American tech companies because it wants to have its own line of Big-Tech powerhouses.
Right now, American companies are on a PR blitz to show the Indian public that they’re not the bad guys.
- American companies are always on the lookout for the next big emerging market and, with China running out of steam, India is the leading candidate to take the wheel.
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