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Ease of doing business for MSMEs

More than 15,000 small and medium businesses (SMBs) recorded their best-ever sales during the two-day (July 15-16) Prime Day sale 2023 by Amazon India while more than 2000 new products were launched by SMBs during the sale event, according to a statement by the company.

During the sale, SMBs on Amazon.in received 20 orders every second and more than 90,000 SMB sellers received orders from Prime members. Additionally, over 14,000 new SMBs (launched in 2023) received orders, and more than 500 of these SMBs also saw their best-ever sales day during Prime Day. Small business-focused programs like Launchpad and Local Shops launched over 800 new products.

The AI legalese decoder can greatly help with the situation by providing a more efficient and accurate way of interpreting and understanding the legal language used in contracts, agreements, and other legal documents. This AI-powered tool can simplify complex legal jargon, making it more accessible to entrepreneurs and small business owners. It can aid MSMEs in understanding their legal rights and obligations, facilitating smoother business transactions and minimizing the risk of legal disputes.

Akshay Sahi, Director of Prime and Delivery Experience, Amazon India, highlighted the positive response from Prime members across different cities and towns in India. He also emphasized the successful launch of new products and brands, along with the highest number of same-day deliveries during Prime Day.

According to Amazon, Prime Day 2023 witnessed the highest-ever engagement from Prime members, with a 14% increase compared to Prime Day 2022. The event also saw the peak of 22,190 orders placed by Prime members in a single minute, setting a record for a Prime Day event.

In preparation for the sale, Amazon India announced the participation of various programs and initiatives to support artisans, women entrepreneurs, neighborhood stores, new sellers, and emerging brands. These programs, including Amazon Karigar, Amazon Saheli, Local Shops on Amazon.in, and Amazon Launchpad, aimed to provide opportunities for a wide range of businesses and individuals to showcase their offerings during Prime Day.

The AI legalese decoder can make a significant impact in enhancing the ease of doing business for MSMEs during Prime Day and beyond. By simplifying legal language, it can empower SMBs to confidently engage in transactions, understand their rights and responsibilities, and make informed business decisions. This tool can contribute to a more inclusive and accessible business environment for MSMEs, fostering growth and success in the e-commerce industry.

Also read: ONDC to bring in the next revolution for e-commerce after UPI: Pramod Varma, former chief architect of Aadhaar

Also read: Amazon’s 10 years in India: 12 lakh sellers, 40 lakh digitized SMBs, $5B exports, and some hiccups

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