Amazon seeks govt permission to set up food e-retail venture in India; spend $500 million

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Amazon seeks govt
Amazon seeks govt permission to set up food e-retail ventu
Breaking news

A report in the Economic Times said that Amazon has “applied to the government

to invest $500 million in a wholly-owned venture in India” which will allow it “stock

locally produced food items and sell them online”.

Should Amazon receive the government’s permission,

it will become the first foreign retailer to enter the segment, the ET said.

“We are excited by the government’s continued efforts to encourage FDI in India

for a stronger food supply chain. We have sought approval to invest

and partner with the government in achieving

this vision,” an Amazon spokesperson told ET.

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