Amazon's FDI in food retail to face opposition from middlemen
Sneha Gilada The Ministry of Food Processing Industry has announced that Amazon plans to invest about $500 million in India's food e-retail market. Other e-commerce firms in the industry like Grofers and Big Basket have also come forward with proposals for investments. The government has received investment proposals from a group of companies totalling $695 million in value. In 2016, the government had pushed through a bill that opened up 100% FDI in the retail of food products manufactured or sourced from India. A similar proposition for non-food products is still in the working. Minister of Food Processing Harsimrat Kaur Badal broke the news and hailed the series of investment proposals as a boost to the food processing Industry of India. From 2011-12 to 2015-16 (until December), the total FDI inflows in ...
Amazon to sell Amul products in US from today
The Dollar Business Bureau Amazon India on Thursday announced it will sell products of a leading Indian dairy brand in nine countries, starting with the US. In May this year, Amazon India launched its Global Selling program, which Indian vendors can use to sell their products in nine countries including the US, the UK, Canada, Japan and France with a total customer base of 300 million. “We are happy to announce an online exclusive partnership with Amul, the iconic and most loved dairy brand in India, giving Amul the access to new age digital shoppers. We are taking the brand to the doorstep (of consumers) across the country (US)” Gopal Pillai,Director and General Manager, Seller Services, Amazon India said in an interview. “Amul is (also) a part of ...
Domestic traders oppose 100% FDI in e-commerce
Himanshu Vatsa | The Dollar Business Though the government is yet to decide on allowing 100% Foreign Direct Investment (FDI) in e-commerce, domestic traders say the move will have adverse impact on small retailers and manufacturers within the country. The Ministry of Commerce will hold a meeting with online retailers and other trade bodies on July 10 to discuss various issues before taking a final decision on the matter. Earlier, the ministry held a consultation with stakeholders in May this year. The Confederation of All India Traders (CAIT) said that allowing 100% FDI in e-commerce will “kill the Indian trade” and give all control of retail business in to the hands international players. “We are going to oppose any such move. We ...
