Ecommerce news India | Flipkart Invests in Ninjacart | Fruits & vegetables delivery
This came at a time when the local electronic retailer expects to complete internal operations before applying for a food retail permit through a newly register
- by B2B Desk 2020-01-17 08:31:09
In December, Flipkart and her mother in the U.S. invested an undisclosed sum in Ninjacart, a new supply chain for fresh produce.
Ecommerce news India: Walmart Flipkart-owned e-commerce company has started a pilot project in Hyderabad to provide fresh fruits and vegetables in cooperation with sellers in the market, three people familiar with the matter said directly.
This came at a time when the local electronic retailer expects to complete internal operations before applying for a food retail permit through a newly registered entity that will allow Flipkart to eventually own food stocks in accordance with the FDI policy. From the government, these people said.
“Although Flipkart (in the past) has moved away from getting into fresh fruits and vegetables directly due to the complexity of the company's supply chain and organizational compliance, with its entry and strong motivation.
"The license application is in progress," he said. Currently, Flipkart has partnered with Waycool Foods & Products and other vendors to launch their operations, the sources said. "Part of this supply chain is likely to be directed to its partners by Ninjacart in the future," said one of the people.
In December, Flipkart and her mother in the U.S. invested an undisclosed sum in Ninjacart, a new supply chain for fresh produce.
However, once the license was obtained, Flipkart made internal plans to venture directly into the business and open physical stores for groceries and fresh foods, although this may have been at least six months, two sources cited earlier in history and confirmed to.
Flipkart Pilot delivering fresh fruits and vegetables in Hyderabad
Experts say gaining space to sell groceries and fresh foods are the next big battle between Flipkart, Amazon, and Reliance, and being out of the internet is a key strategy to boost adoption. "The supermarket is one of the major categories in Flipkart ... The pilot project that contains fresh food in Hyderabad aims to improve understanding of consumer behavior and the supply chain that we are developing to meet the demand for this category," the company said.
In October, Flipkart registered an entity, Flipkart FarmerMart, with an authorized capital of Rs. 1,845 crore, in line with the government's Foreign Direct Investment (FDI) policy that allows 100% of foreign direct investment in retail food sales produced and manufactured in the country. The foreign direct investment license for retail food sales is granted by the Ministry of Industry Promotion and Internal Trade (DPIIT).
Amazon has already committed to investing $ 500 million over five years to sell its food and third-party products, obtained and packaged locally, through online and offline stores through its subsidiary Amazon Retail India. It also has a stake in MORE, the Aditya Birla Group food and grocery retail chain, and Future Retail, led by Kishore Bayani, who manages the Easy Day and Big Bazaar series.
Reliance Industries launched the Geomart portal online with the first pilots in Mumbai. However, Alibaba-backed BigBasket is still the largest online player in this space, but the online leader has not proven offline.
In India, Walmart doesn't sell directly to consumers, as it is a structured wholesaler, or cash operator, that sells goods to local stores, hotels, and catering companies in local crowns. Food is the only sector in which electronic retailers can sell directly to consumers.
Also Read: Ecommerce news India | eBikeGO | Two-wheeler rental | To expand fleet
POPULAR POSTS
Adani Group to Invest USD 2 Billion in International Convention Centre, Challenges Jio World Centre
by B2B Desk, 2024-11-20 09:19:53
Suditi Industries Acquires Iconic Kidswear Brand Gini & Jony
by B2B Desk, 2024-11-20 09:31:33
Vedanta Ltd to Invest $500 Million in Tokyo-Based Display Glass Arm AvanStrate Inc
by B2B Desk, 2024-11-14 08:23:15
EPF, EPS Contribution Limit May Be Hiked to Rs 21,000 Soon: How It Can Impact You
by B2B Desk, 2024-11-12 06:51:51
Jaishankar and Manturov to Steer India-Russia Talks: Focus on Export Imbalance and $100 Billion Trade Target by 2030
by B2B Desk, 2024-11-11 11:45:28
Will India Gain More Than It Loses Under Trump 2.0? Here's What Strategic Affairs Experts Say
by B2B Desk, 2024-11-07 07:11:07
Donald Trump Returns as US President: World Leaders Offer Congratulations
by B2B Desk, 2024-11-06 10:47:44
Follow on Insta
RECENTLY PUBLISHED
HealthKart Secures $153 Million Investment from ChrysCapital and Motilal Oswal Alternates
- by B2B Desk, 2024-11-19 07:07:40
India Joins Hands with Elon Musk’s SpaceX to Launch Its Most Advanced Satellite Next Week
- by B2B Desk, 2024-11-18 08:42:51
Subscribe now
x
![logo]()
