Amazon is set to make its nationwide debut in online food retailing in India during the Diwali season. The company, which will make its entry through subsidiary Amazon Retail India Pvt Ltd, is also planning to start a private grocery label in India as it has done in the US.
Amazon recently got government approval for stocking and selling food and groceries in India online and through brick and mortar stores.
The company plans to invest $500 million in the segment over the next five years.
It aims to sell locally produced and packaged food products from third parties and under its own private label.
Companies nowadays have realised the growth opportunities of retail business as well as its importance. Customers are going everywhere, so for a multi-product and multi-brand company, presence is mandatory in multi- format.
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