Is it true that Jeff Bezos of Amazon has agreed to invest $1 billion into helping Indian small and medium sized retail players become competitive?

You may recollect that the traders were planning huge protests across India as a sign of protest against Amazon during Bezos’ visit to India. Most traders have been upset that Amazon and Wal-Mart have use their global financial muscle to create an ecommerce ecosystem in India which has been largely destroying the livelihood of small and medium sized traders.

To quell such protests, Bezos has announced that Amazon would invest close to $1 billion into the Indian retail ecosystem that would make the small and medium sized retailers more competitive in the current scenario. The idea appears to be more of partnering with small traders who can act as last-mile connectivity for Amazon. It has also the potential to improve the popularity of Amazon in India, which is essential to its long term sustenance.