New Delhi, Aug 21
Over 50 million Micro, Small and Medium Enterprises (MSMEs) in India, who have GST and Business PAN (B-PAN), can have digital procurement access through Amazon Business ahead of the upcoming festive season, the global e-commerce giant said on Thursday.
According to the e-commerce company, Amazon Business has opened access where Udyam and FSSAI license holders across the nation can now sign up on Amazon Business.
According to a latest report by Bessemer Venture Partners, India's digital procurement market is expected to reach $200 billion by 2030, reflecting the massive transformation underway in how Indian businesses source and purchase.
The strongest adoption comes from entrepreneurs in tier-2 and tier-3 cities, who represent over 70 per cent of the customer base, highlighting the platform's reach beyond metro cities.
Amazon Business transforms procurement from a complex, time-consuming process into a simple, transparent, cost-effective solution for small businesses, the company said.
Additionally, the businesses can have a 30-day interest-free credit that can help them manage cash flow for larger purchases. The Amazon provides this facility in partnership with Amazon Pay Later.