With $1 billion in a year, team India is just fabulous: Amazon CEO Jeff Bezos

September 29, 2014

Amazons Bezos

Bangalore, Sep 29: India has surpassed the highest expectations for Amazon, the company's founder and CEO Jeff Bezos said, promising to keep the money tap open for a business that he announced has sold goods worth more than $1 billion (Rs 6,000 crore) in just over a year of operations.

"We had very high expectations and this team has blown past our highest expectations... It's going extraordinarily well," said Bezos, 50, who is making his second visit to India and his first after Amazon launched its India retail business in June 2013. "The results are very good. Now that's why we are doubling down our investments... If there is an opportunity to invest more, we will. We are not capital-constrained, we are ideas-constrained he said.

In July, Bezos committed to invest $2 billion in India, just a day after India's biggest online retailer Flipkart announced $1 billion in funding, setting the stage for a battle for top honours in a market that retail advisory Technopak expects to be worth $32 billion (Rs 1.9 lakh crore) by 2020.

With an estimated net worth of $30 billion, Bezos is one of the world's richest men and India is crucial to his plans for Amazon, given the country's size and potential, and especially since it has failed to make much headway in China.

Unfazed by Alibaba

His company launched relatively late in this country. Amazon's share price has fallen by around 20% on the Nasdaq this year, and China's Alibaba is flush with cash after its IPO and ready to challenge Bezos around the world, including India. But Bezos, who swears by the credo of long-term thinking, is unfazed.

"Judging just based on results, I would say we have come exactly at the right time," Bezos said in response to a question about whether he has left India until too late, and let out a full-throated guffaw, one of several that punctuated the 40-minute interview.

Amazon's main rivals in India are Bangalore-based Flipkart and Snapdeal, the Delhi-based company that counts eBay, Azim Premji and Ratan Tata as investors. Together, they have sold goods worth more than $4 billion, with Flipkart alone estimated to have crossed $2 billion. Alibaba, too, is keen on India, and the Chinese company has the money, experience and ambition to succeed here.

Does Alibaba's $25-billion IPO earlier this month put Bezos under added pressure? "If so, I haven't felt it," he said, bellowing once again with laughter and reiterating his focus on good business results over the long term.

Asked what was his message for Sachin Bansal and Binny Bansal of Flipkart (both former employees of Amazon India) especially after it appeared to have tauntingly welcomed him with giant billboards across Bangalore, including one outside the Sheraton hotel where he is staying, announcing its upcoming 'Big Billion Day' sale, Bezos refused to be drawn to speak about competition.

"I have this long-standing practice about not talking about other companies. We have a somewhat unusual or rather unique approach of mostly ignoring our competitors," he said.

With revenue of nearly $75 billion in 2013 and a market value of $150 billion, Amazon is best-known as an online retailer. But it also runs a fastgrowing cloud computing business called Amazon Web Services and makes Kindle tablets and Fire smartphones. Bezos, in his personal capacity, bought The Washington Post newspaper last year. In India, Amazon started its technology operation first and employs a total of about 12,000 staff at offices in Bangalore, Hyderabad, Chennai and Delhi.

Dressed casually in beige trousers and a light blue shirt, Bezos was unstinting in his praise for country head Amit Agarwal, whose team has made sure that India is the fastest country to reach $1 billion in gross sales for Amazon. "He is going to blush because I am going to say so many good things," Bezos at the start of the interview said about his former technical advisor at Seattle headquarters.

Some of the innovations by the India operation are being exported to the rest of the world, Bezos said, pointing to its 'Easy Ship' service of delivering goods for sellers who don't stock their products with Amazon.

"I am super excited," he said. Traditionally, Amazon has grown organically but it is open to acquisitions in India, Bezos said, as he spoke of the Indian operation along with AWS, Kindle and fashion as the company's new frontiers. "Mostly we grow organically and that's true in India. But if there are opportunities to do acquisitions, we'll always consider."

Asked whether India's marketplace-based e-retailing model was a bother - Amazon operates an inventory-based model at home - Bezos said his company had no issues whatsoever, dispelling a perception that the Indian system was an irritant and he would lobby with the government during this visit to change it. "Our marketplace model is working phenomenally well... I always tell my team that whatever the rules are, we are the ones who would have to adapt to the local rules," he said.

Some five years ago, Bezos made a quiet two-week visit to India, allocating the first half of his trip for business and rest for leisure. The father of four took his nine-year-old son to the main tourist attractions, including the Taj Mahal in Agra and Varanasi, a city now represented in the Lok Sabha by Prime Minister Narendra Modi.

"I find India and the people not just energetic but personally energising," he said.

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Agencies
June 13,2020

The Brazilian government said that the Amazon rainforest witnessed deforestation of a record 829 sq km in May, the highest monthly level since 2015.

On Friday, the National Institute for Space Research (INPE) said that deforestation in the Amazon increased by 91 sq km compared to the same period last year, reports Xinhua news agency.

Between January and April, destruction of the forest by illegal loggers and ranchers rose 55 per cent, or a total of 1,202 sq km was wiped out, it said.

The Real-time Deforestation Detection system, a federal project created to monitor human activity in the Amazon, alerted authorities to the increase in the rate of destruction of the rainforest.

A recent study by the Amazon Environmental Research Institute (IPAM) warned that deforestation in 2020 could reach 11,900 sq km if the pace of May, June, and July follows the historical average.

Deforestation in the region has soared since President Jair Bolsonaro took office last year, according to conservation groups.

He has argued that more farming and mining in protected areas of the forest were the only way to lift the region out of poverty.

Bolsonaro's environmental policies have been widely condemned but he has rejected the criticism, saying Brazil remains an example for conservation.

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Agencies
May 10,2020

In the wake of the gas leak at a factory in Visakhapatnam, the National Disaster Management Authority (NDMA) has issued detailed guidelines for restarting industries after the lockdown and the precautions to be taken for the safety of the plants as well as the workers.

In a communication to all states and union territories, the NDMA said due to several weeks of lockdown and the closure of industrial units, it is possible that some of the operators might not have followed the established standard operating procedures.

As a result, some of the manufacturing facilities, pipelines, valves may have residual chemicals, which may pose risk. The same is true for the storage facilities with hazardous chemicals and flammable materials, it said.

The NDMA guidelines said while restarting a unit, the first week should be considered as the trial or test run period after ensuring all safety protocols.

Companies should not try to achieve high production targets. There should be 24-hour sanitisation of the factory premises, it said.

The factories need to maintain a sanitisation routine every two-three hours especially in the common areas that include lunch rooms and common tables which will have to be wiped clean with disinfectants after every single use, it added.

For accommodation, the NDMA said, sanitisation needs to be performed regularly to ensure worker safety and reduce the spread of contamination.

To minimise the risk, it is important that employees who work on specific equipment are sensitised and made aware of the need to identify abnormalities like strange sounds or smell, exposed wires, vibrations, leaks, smoke, abnormal wobbling, irregular grinding or other potentially hazardous signs which indicate the need for immediate maintenance or if required shutdown, it said.

At least 11 people lost their lives and about 1,000 others were exposed to a gas leak at a factory in Andhra Pradesh''s Visakhapatnam on May 7.

The incident took place after it restarted operations when the government allowed industrial activities in certain sectors following several weeks of lockdown.

The lockdown was first announced by Prime Minister Narendra Modi on March 24 for 21 days in a bid to combat the coronavirus threat. The lockdown was then extended till May 3 and again till May 17.

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Agencies
June 19,2020

Denser places, assumed by many to be more conducive to the spread of the coronavirus that causes COVID-19, are not linked to higher infection rates, say researchers.

The study, led by Johns Hopkins University, published in the Journal of the American Planning Association, also found that dense areas were associated with lower COVID-19 death rates.

"These findings suggest that urban planners should continue to practice and advocate for compact places rather than sprawling ones, due to the myriad well-established benefits of the former, including health benefits," says study lead author Shima Hamidi from Johns Hopkins Bloomberg School of Public Health in the US.

For their analysis, the researchers examined SARS-CoV-2 infection rates and COVID-19 death rates in 913 metropolitan counties in the US.

When other factors such as race and education were taken into account, the authors found that county density was not significantly associated with county infection rate.

The findings also showed that denser counties, as compared to more sprawling ones, tended to have lower death rates--possibly because they enjoyed a higher level of development including better health care systems.

On the other hand, the research found that higher coronavirus infection and COVID-19 mortality rates in counties are more related to the larger context of metropolitan size in which counties are located.

Large metropolitan areas with a higher number of counties tightly linked together through economic, social, and commuting relationships are the most vulnerable to the pandemic outbreaks.

According to the researchers, recent polls suggest that many US citizens now consider an exodus from big cities likely, possibly due to the belief that more density equals more infection risk.

Some government officials have posited that urban density is linked to the transmissibility of the virus.

"The fact that density is unrelated to confirmed virus infection rates and inversely related to confirmed COVID-19 death rates is important, unexpected, and profound," said Hamidi.

"It counters a narrative that, absent data and analysis, would challenge the foundation of modern cities and could lead to a population shift from urban centres to suburban and exurban areas," Hamidi added.

The analysis found that after controlling for factors such as metropolitan size, education, race, and age, doubling the activity density was associated with an 11.3 per cent lower death rate.

The authors said that this is possibly due to faster and more widespread adoption of social distancing practices and better quality of health care in areas of denser population.

The researchers concluded that a higher county population, a higher proportion of people age 60 and up, a lower proportion of college-educated people, and a higher proportion of African Americans were all associated with a greater infection rate and mortality rate.

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