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.