Flipkart to start selling food through FarmerMart

BENGALURU | MUMBAI: Walmart-owned Flipkart is entering food retail in India, where consumers spend about $500 billion on groceries annually.

Newly registered Flipkart FarmerMart, with an authorised equity capital of Rs 1,845 crore, will sell items produced locally. Sales will initially be online, although the company can also sell through physical stores.

“In line with the government of India’s FDI (foreign direct investment) policy, which allows 100% FDI in food retail for food produced and manufactured in India, Flipkart is applying for appropriate licences from the government,” said Flipkart Group CEO Kalyan Krishnamurthy. “We have secured all internal approvals for the same already.”