Now get your fruits and veggies within two hours on Amazon
Recently, the government has allowed 100% FDI in food sector.
To compete with online grocery portals like Grofers and Big Basket, Amazon has now entered this segment under its Amazon Now, said a Techinasia report.
Amazon Now, which was launched in February, offers packaged daily staples and now the company has added fresh fruits and vegetables category. The company promises two-hour delivery, said the report.
As per the report, presently, Amazon Now operates only in Banglore and is accessible through an Android app. The company will be looking for tie-ups with supermarkets to source fresh vegetables and fruits.
Along with Amazon's rival with Flipkart and Snapdeal, Amazon Now's entry in this sector will create direct competition with BigBasket and Grofers.
Recently, the government has allowed 100% FDI in food sector. Previously, the Amazon was not allowed to hold inventories or sell food directly to customers, the report added.
In India, online grocery-selling startups are going through rough phase since mid-2015. It will be interesting to see if Amazon able to survive in this sector.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
IRCTC Dividend 2024: Railway PSU announces 200% interim dividend - Check record date and other details
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
06:58 PM IST