In 2017, Amazon secured the government’s permission to invest USD 500 million in a wholly-owned venture to retail locally produced and packaged food products through offline and online channels. It is the only global entity to have applied for the food-only retailing business, an area where the government allowed 100% overseas investment in 2016 to help producers and generate employment.
The development comes at a time when Walmart is in talks to purchase a stake in India’s homegrown ecommerce company Flipkart.
Earlier in February 2018, Amazon has pushed the envelope of its subsidiary Whole Foods by offering grocery delivery from the retailer in four US regions: Austin, Cincinnati, Dallas and Virginia Beach.
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