Amazon India to invest $515 mn in food retail business over next 5 years

Last year, govt allowed 100% FDI in multi-brand food retail

Global e-commerce major Amazon is aiming to enter the food retailing sector in India with investment plans of $515 million over the next 5 years.

Food Processing Industries Minister Harsimrat Kaur Badal on Thursday confirmed the company’s investment plans while adding that Metro Cash & Carry has also shown interest in food retailing.

Back in January, Amazon had filed its application with the Department of Industrial Policy and Promotion (DIPP). Online players Grofers and Big Basket also have also submitted FDI proposals regarding retail trading of food items.

While Amazon is one of the major e-commerce players in India, Grofers