Amazon receives nod for Food Retail

Bengaluru, India July 11: Good news for Food Industry. The Government has approved the proposal of Amazon Company to sell foods products manufactured in India. Sources say that the company would invest $ 500 in the country.

Earlier Union Food Processing Minister Harsimraut Kaur Badal has said that the government has delayed the proposal because of the abolition of FIPB.

Officials of Department of Industrial Policy and Promotion (DIPP) have said that we have given nod for Amazon to set up food retail in India.they have said that we have also approved proposals of Bigbasket and Grofers.

Currently, under the new FDI policy 100 %, FDI has been allowed to set up food retail stores in India for Indian Manufactured/Processed foods. The Company also confirmed the news and said that we will soon start the process to establish retail chains in India.

Sources say that new FDI policy has seen a good response and government feels that this move reduce food wastage and also improve farmers income.