CURRENT AFFAIRS

Detailed explanation-1: -The e-commerce giant, Amazon is serious about its future in India. The company plans to create one million jobs in India over the next five years. Amazon CEO Jeff Bezos announced $1 billion (over Rs 7, 000 crore) investment in India. The latest investment will help Amazon in bringing small and medium businesses online.

Detailed explanation-2: -Amazon said on Wednesday that it aims to export locally produced Indian goods worth $20 billion by 2025, doubling its initial goal of $10 billion set for the same time frame as the e-commerce group attracts more than 100, 000 exporters in the key overseas market.

Detailed explanation-3: -The company is also on track to create 2 million jobs in India, enable $20 billion in exports (double of its earlier target) and digitise 10 million MSMEs by 2025.

Detailed explanation-4: -Amazon Retail India Private Limited is an Indian Non-Government Company. It’s a private company and is classified as’company limited by shares’. Company’s authorized capital stands at Rs 500.0 lakhs and has 100.0% paid-up capital which is Rs 500.0 lakhs.