Amazon India given nod to sell groceries
Amazon India has secured government approval to stock and sell food and groceries.
Sources say the American online retail giant plans to invest US$500 million in the food segment, over and above the $5 billion it has already committed to India, Reuters reports.
Currently Amazon India offers food products via Amazon Pantry, which has a line-up of retailers including its JV Cloudtail. It also offers same-day grocery delivery on its Amazon Now app through a tie-up with Indian retailers Big Bazaar, Hypercity and Star Bazaar.
Meanwhile, local venture-funded Flipkart, whose backers include Microsoft, Tencent Holdings and Tiger Global, also plans to move into the groceries space.