Indian e-commerce platform Flipkart has filed for approval from regulatory authorities to conduct food retail in the territory.
According to a Times of India report, The Walmart-owned business has made the application with the Department for Promotion of Industry and Internal Trade with the expectation of a decision within three months.
The firm registered an online grocery business in October last year under the brand name Flipkart FarmerMart. According to reported figures, the firm will make an investment of ₹2,500 crore (US$338,000) in the venture.
Initial plans will see the firm delivering customer purchases via local “kirana” stores partnering with the Flipkart business.
An article in Moneyreport stated the firm will “focus on deep agri-supply chain investment, especially at the farm gate level and will encourage demand-driven sowing, which will help farmers produce right fruits and vegetables and get paid as per market price”.
Flipkart competitor Amazon has held a food retail licence in India since 2017.