India remains one of the most under-penetrated markets for food delivery, offering a significant headroom for penetration, Swiggy's Food Marketplace CEO Rohit Kapoor said on Friday, asserting that it will keep an eye on investments which create the next set of growth opportunities.
In an interview to PTI ahead of International Women's Day, Kapoor shared that Swiggy's female delivery riders are on the rise.
"India remains absolutely the most under-penetrated market in food delivery. You can take any metric, you'll see that we are not just lower than Western averages, we are even lower than some of the Southeast Asian countries. So the long term head-room on penetration remains a lot. There's 90 per cent of India left to experience food delivery, of which everything is not addressable market, but some is," Kapoor said.
He added that while the food delivery platform remains profitable, "we definitely will keep an eye on investments in the right areas which create the next set of opportunities for growth".
Food delivery and quick commerce major Swiggy, which owns Instamart, earlier reported a widening of its losses for the third quarter ended December at Rs 1,065 crore, on continuing losses from the quick commerce segment and rising advertising and sales promotion expenses.
The company had reported a loss of Rs 799 crore on a consolidated basis for the corresponding October-December period of the previous financial year.
Kapoor observed that Swiggy has more female delivery riders in cities where women ride a lot of two-wheelers, like Chandigarh, parts of Gujarat and South India.
He was speaking on the sidelines of 'She The Change', an initiative aimed at celebrating women who are redefining India's culinary and business landscape. Minister for Tourism and Culture Gajendra Singh Shekhawat was the Chief Guest at the event.
"Women-led businesses are vital to India's growth, and it is inspiring to see them flourishing in diverse industries beyond just the major cities. Organizations that partner with and empower women entrepreneurs are essential for inclusive economic development," the minister said.
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(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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