Around 3,500 traders from Bengal’s MSME sector have joined Amazon Global Selling this year for international trade in the markets of US, UK, Canada, Australia, and Germany. These exporters are from various districts in Bengal, including Kolkata, South and North 24 Parganas, Burdwan, Howrah, Hooghly, and Darjeeling, according to Amazon India director of global trade Bhupen Wakankar.
The products being exported through Amazon from the state mainly belong to categories such as textiles, home appliances, kitchenware, luggage, shoes, and lawn and garden items. Amazon Global Selling is playing a crucial role in empowering these exporters to reach customers globally. Technology is driving this process by simplifying e-commerce exports for MSMEs not only in Bengal but also in other parts of the country. Wakankar mentioned that Amazon is investing in tools and technologies to help sellers optimize their reach, enhance product discovery, and increase sales. The goal is to enable $20 billion in cumulative e-commerce exports from India by 2025.
This news comes at a time when Indian exports are facing challenges in other sectors. The declining steel demand in China has had a significant impact on Indian exports, particularly affecting states like Andhra Pradesh and Maharashtra. Both states have reported decreases in iron, steel, and spice exports during Q1-FY25. On the other hand, Tamil Nadu saw a 12% increase in exports due to growth across various products.
Another recent development affecting the Indian market is Bangladesh’s ban on Hilsa exports from the Padma river. This ban has led to a spike in prices in cities like Kolkata and Delhi. Fish sellers are exploring options like illegal imports or selling limited frozen stock at higher rates. In response to the increased costs, restaurateurs are considering raising menu prices during the upcoming festive season.
In the energy sector, Norway’s Equinor has decided to abandon its plans to export blue hydrogen to Germany due to high costs and a lack of demand. The initial partnership with RWE was aimed at creating a supply chain for German power plants. However, Norwegian gas will now be converted into blue hydrogen in the Netherlands instead.
Overall, the expansion of Bengal traders on the Amazon Global platform signifies a positive step towards enhancing international trade opportunities for MSMEs in the region. As these traders continue to explore global markets, they are not only contributing to the growth of the local economy but also gaining valuable exposure on a global scale.