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Amazon invests Rs 240 crore in its food-only retail business in India

Amazon has pumped in Rs 240 crore (approx $35 million) in its Indian food-only retail unit, Amazon Retail India. Amazon Retail India acts as a seller of groceries and other packaged food products to the company’s local ecommerce marketplace, Amazon.in. Amazon’s capital infusion in the business unit signifies that the company is going ahead with its planned expansion in food and grocery retail in India. Food and grocery contributed $540 billion out of the total $880 billion in the overall retail business in India in 2018, according to market researcher Forrester. 

Read More at The Economic Times News date : 1 Apr 2019, Monday

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