Amazon India to invest $515 mn in food retail business over next 5 years

Photo: Shutterstock

Latest News – Global e-commerce major Amazon is aiming to enter the food retailing sector in India with investment plans of $515 million over the next 5 years.

Food Processing Industries Minister Harsimrat Kaur Badal on Thursday confirmed the company’s investment plans while adding that Metro Cash & Carry has also shown interest in food retailing.

Back in January, Amazon had filed its application with the Department of Industrial Policy and Promotion (DIPP). Online players Grofers and Big Basket also have also submitted FDI proposals regarding retail trading of food items.
While Amazon is one of the major e-commerce players in India, Grofers and Big Basket are into online grocery space.

Last year, in June, the government allowed 100 per cent FDI in multi-brand food retail, including through e-commerce. However, the food products have to be produced, processed or manufactured in the country.

However, while the move has drawn little interest from (Read More)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s