Amazon, the most popular company in the e-commerce sector, has announced a $ 250 million fund for small and medium enterprises in India.

On Thursday, Amazon, the company of the world’s largest rich Jeff Bezos, announced the creation of a fund of $ 250 million (Rs 1,873 crore). This fund will help to make small and medium enterprises digital in India. Along with this, it will encourage innovation in the fields of agro-technology and health technology.

Amazon Web Services CEO Andy Jessie said, “Small and medium enterprises are the engines of the economy. This is also true in the context of India. We are excited to promote Small and Medium Enterprises (SMBs) in India so that they can contribute to innovation and the economy. I am very happy to announce the $ 25 million Amazon Possible Venture Fund. ‘

On Thursday, while addressing the second Amazon possible program, JC said that under this, the intention of the company is to encourage SMB to build its new business. Jessie will take over as CEO of Amazon Inc. later this year.

Amit Agarwal, global senior vice president of Amazon India and country head in India, said that the fund will run with the goal of empowering the best ideas. It will attract entrepreneurs with far-sightedness.