News > Govt rejects Flipkart’s proposal for entering food retail sector
Govt rejects Flipkart’s proposal for entering food retail sector
Firstpost | 01/06/2020 04:15 PM | Click to read full article
DPIIT has rejected Walmart-backed Flipkart’s proposal seeking approval for entry to the food retail sector citing a regulatory issue. The government permits 100 percent foreign direct investment in food retail for food produced and manufactured in India. Amazon had received the government's nod for its $500 million investment proposal for retailing of food products in India in 2017.
