Amazon has sought the Indian government’s approval to enter the food space in India by opening brick-and-mortar stores to sell food products (produced or manufactured in India) through multiple channels, including offline and online.
The company plans to invest Rs 3,500 crore in the proposed entity over the next five years & the new business unit would sell third-party or its own private labels of locally produced and packaged food products.
The move is likely to give Amazon, a huge competitive advantage against home-grown Flipkart that currently holds the leadership position.
The company’s first brick-and-mortar grocery store, under the brand name Amazon Go, is scheduled to be launched soon in Seattle.
