Amazon aims to grab larger share of India's $4.3bn food delivery market

CLOSE X

Press Release

News | March 30

Amazon aims to grab larger share of India's $4.3bn food delivery market

Competition in India`s online food delivery sector is heating up, with market leader Zomato planning a public listing this year, while Amazon makes a push to grow its fledgling restaurant delivery service in the country to grab a larger slice of the pie.

The sector is currently dominated by Zomato, Jack Ma`s Ant Group-backed venture, which was launched in Delhi in 2008. Bangalore-based Swiggy, which counts Prosus Ventures among its investors, is another major player.

“Amazon`s entry can have a massive effect on this industry,” says Nitin Shahi, the executive director of Findoc Financial Services.

At stake is greater share of a fast-growing food market, driven by rising smartphone ownership, internet use and an expanding middle class.

The size of India`s online food delivery market reached $4.35 billion last year. It is projected to witness a compound annual growth rate of 30.11 per cent over the next five years, according to market research company Imarc Group.

Read Full Article

Categories

Agro-Commodity market2 Social Entrepreneurship1 Articles 77
All80

Important Message The information contained in this file is provided for informational purposes only, and should not be construed as legal advice on any matter. The content and interpretation of the law addressed herein is subject to revision. We disclaim all liability in respect to actions taken or not taken based on any or all the contents of this file to the fullest extent permitted by law. Every effort is made to avoid errors. In spite of that, errors and discrepancies may creep in. It is expressly stated that neither Findoc Investmart Private Limited nor any of the contributors of updates will be responsible for any damage to anybody on the basis of this document. Readers are, therefore, requested to cross check with the original sources e.g. Government publications, Orders, Judgments etc., before taking any action or making any decision. These services are being provided through our group companies Findoc Capital Mart Pvt Ltd and Findoc Finvest Private Limited

Attention Investors

1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020.
2. Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.
3. Pay 20% upfront margin of the transaction value to trade in cash market segment.

No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries forrefund as the money remains in investor's account."

Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactionsin your demat account directly from NSDLon thesame day......................issued in the interest of investors."

Learn More