Get App
Download App Scanner
Scan to Download
Advertisement
This Article is From Aug 03, 2017

Amazon, Two Others Get Nod For FDI In Food Retail 

Amazon, Supermarket Grocery Supplies and Grofers get nod for retail trading of food products.

Amazon, Two Others Get Nod For FDI In Food Retail 
Pedestrians walk past the new Amazon.com Inc. Go grocery store in Seattle, Washington, U.S. (Photographer: David Ryder/Bloomberg)

The government has approved three FDI proposals -- from Amazon Retail, Supermarket Grocery Supplies and Grofers India -- worth over Rs 3,700 crore for retail trading of food products, as informed to the Parliament.

While Amazon Retail has a proposed investment of Rs 3,500 crore, Supermarket Grocery Supplies has planned Rs 105 crore. Similarly, Grofers India has proposed investments of $25 million (over Rs 160 crore).

The government has granted these permissions for 100 percent foreign direct investment for retail trading of food products manufactured and/or produced in India, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.

On the question whether any decision has been taken by the government to allow overseas food retailers to sell personal care and household items made locally, she said that no such decision has been taken.

She added that as many as 18,884 complaint calls were received by the national consumer helpline in e-commerce sector during the April-June period.

In the same period last year, the number was 54,872. Out of the 18,884 complaints, 17,665 were disposed off.

Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.

Newsletters

Update Email
to get newsletters straight to your inbox
⚠️ Add your Email ID to receive Newsletters
Note: You will be signed up automatically after adding email

News for You

Set as Trusted Source
on Google Search
Add NDTV Profit As Google Preferred Source
Listen to the latest songs, only on JioSaavn.com