| 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.
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