Govt approves Amazon's proposal for â¹3,200 crore FDI in food
The government has approved e-commerce giant Amazon's proposed $500 million (over â¹3,200 crore) foreign direct investment (FDI) in retailing of food products in India. As per the proposal, the company will sell food products online via its wholly-owned subsidiary. Notably, the government allows 100% FDI in food retail, including e-commerce, provided the items are produced or manufactured in India.