Amazon, Grofers hope to enter food business as govt looks to ease FDI rules

Currently, 100% FDI is allowed only if food products are produced and processed in India

Companies hopeful of getting into food retailing such as Amazon, Big Basket and Grofers have started putting together plans to do so, with the government again actively considering their proposals.
 

 

"We are just waiting for the final approvals. We have finished most of the initial work, including looking for retail spaces and deciding on the manpower. Our blueprint for our offline retail plan is also ready and our back-end is in place," a senior vice- president of one of these entities told Business Standard.

In June last year, the government decided to allow up to 100 per cent foreign direct investment