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Amazon, Grofers Get Approval for 100 Percent FDI in Food Retail: Sitharaman

Amazon, Grofers Get Approval for 100 Percent FDI in Food Retail: Sitharaman

By Press Trust of India | Updated: 2 August 2017 17:56 IST

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Highlights

Govt has approved 3 FDI proposals including Amazon Retail and Grofers
Amazon Retail has proposed investment of Rs. 3,500 crores
Grofers India has proposed investments of Rs. 160 crores

The government has approved three FDI proposals - from Amazon Retail, Supermarket Grocery Supplies and Grofers India - worth over Rs. 3,700 crores for retail trading of food products, Parliament was informed on Wednesday.

While Amazon Retail has proposed investment of Rs. 3,500 crores, Supermarket Grocery Supplies has planned Rs. 105 crores.

Similarly, Grofers India has proposed investments of $25 million (over Rs. 160 crores).

The government has granted these permissions for 100 percent foreign direct investment for retail trading of food products manufactured and/or produced in India, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.

On the question whether any decision has been taken by the government to allow overseas food retailers to sell personal care and household items made locally, she said: "No such decision has been taken".

Replying to a separate question, she said as many as 18,884 complaint calls were received by the national consumer helpline in e-commerce sector during April-June period.

In the same period last year, the number was 54,872. Out of the 18,884 complaints, 17,665 were disposed of.

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Further reading: Grofers, Amazon, Amazon India, Amazon Retail, India, Internet, Apps, FDI