By 2026, India’s online retail market is expected to grow over 1,200 percent to US$200 billion, up from US$15 billion in 2016 and will account for 12 percent of the country’s overall retail market.
With the growth driven by increasing internet penetration, smartphone usage, and tech-friendly policies, it’s little wonder why giants like Amazon Web Services (AWS) look to India for making product decisions.
A recent report in the Economic Times quoted AWS chief executive Andy Jassy as saying that India’s customers have played a significant role in impacting decisions the US$190 billion company makes.
At AWS’ Re:Invent conference 2017, the company’s annual customer and partner event in Las Vegas last week, Jassy also commended the government’s openness to technology.
“India for us, in a lot of ways, has impacted our business. We have had strategic and impactful customers. They have been vocal and very helpful in providing feedback on what they would like to see in the services,” he said.
“It has impacted what we build. We have launched region India and it’s off to a fantastic start.”
The CEO added: “It is nice to have a government that is excited about trying to enable that kind of technology and (is) welcoming of companies.”
AWS is Amazon’s most profitable business division, with US$18 billion in sales predicted for 2018, representing a growth rate of around 40 percent on this year.
Among a deluge of other offerings, the conference saw Amazon AWS making a major push towards innovation in machine learning and Internet of Things services.
According to Tech Target, AWS released a tool called SageMaker to empower developers to build smarter, artificial intelligence (AI)-driven applications like the AI experts and help them add machine learning services to applications.