E-commerce giant Amazon (AMZN) announced on Monday that Indian exporters using its platform have now reached $20 billion in total exports, with nearly $7 billion of that coming just this year. Notably, this growth happened even though the U.S. introduced higher tariffs in August (doubling duties on some Indian goods to 50%) in response to India’s increased purchases of Russian oil. While the tariffs affected thousands of small Indian exporters, Amazon said the overall impact was limited. As a result, the company raised its long-term target to $80 billion in total exports from India by 2030.
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Interestingly, Amazon’s Global Selling program began in 2015 and allows Indian businesses to sell in 18 international markets, such as the U.S., UK, Germany, Canada, and the UAE. The U.S. remains the largest destination for these exports. However, according to India’s commerce ministry, shipments to the U.S. dropped in September to $5.43 billion from $6.87 billion in August. Key product categories hit by tariffs include textiles, shrimp, gems, and jewelry.
Nonetheless, Amazon’s seller network is still growing quickly as it’s up 33% from last year, with 200,000 Indian exporters now on the platform. Much of the recent growth is coming from smaller Indian cities such as Panipat, Bhadohi, Karur, and Erode. In 2024 alone, Panipat and Karur contributed nearly $160 million in exports. In addition, popular categories like health and beauty products, home goods, clothing, and toys are growing at over 35% annually. Amazon credits supportive government trade policies for making it easier for Indian businesses to ship globally.
What Is the Price Target for AMZN Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on Amazon stock based on 41 Buys assigned in the past three months. Furthermore, the average AMZN stock price target of $269.03 per share implies 18.1% upside potential from current levels.
