Skip to main content

Sphero Indi Is a Tiny Robotic Car That Helps Children Learn Programming

Government Rejects Flipkart's Plan to Enter Food Retail Business in India: Report


Government Rejects Flipkart's Plan to Enter Food Retail Business in India: Report

By Techtonic group

In what could be a major setback for Flipkart, the Indian government has rejected the home-grown e-tailer's proposal to enter the food retail business in the country. According to sources quoted by CNBC TV-18, the Department for Promotion of Industry and Internal Trade (DPIIT) sent a letter to the company last week, stating that its application for a food retail license had been rejected.

Flipkart had originally announced plans to enter India's food retail business last year as part of its strategy to diversify to more sectors of the e-commerce scene in the country. The company even registered an entity called 'Flipkart Farmermart Pvt Ltd' that the company's CEO, Kalyan Krishnamurthy, described as "an important part of our efforts to boost Indian agriculture as well as food processing industry in the country". Overall, the company is said to have been looking to invest Rs. 2,500 crore into the food retail business in the country.

According to sources, the license was rejected because Flipkart's application did not fit into the current FDI guidelines. However, Amazon had received a food retail license in 2017 after the government gave the green signal to 100 percent FDI in food retail. Meanwhile, the report claims that Flipkart plans re-apply for a license, but there's no further info on that front just yet.

In a press statement, a Flipkart spokesperson claimed that the company's proposed investments in the food sector would add significant value for farmers and other stakeholders. According to him: "At Flipkart, we believe that technology and innovation driven marketplace can add significant value to our country’s farmers and food processing sector by bringing value chain efficiency and transparency. This will further aid in boosting farmers’ income and transform Indian agriculture. We are evaluating the department’s response and intend to re-apply as we look to continue making a significant impact on small businesses and communities in India".

Comments

Popular posts from this blog

Instagram Parteners with Swiggy, Zomato to Let Resturant Add 'Food Order' Stickers in Stories

Instagram Parteners with Swiggy, Zomato to Let Resturant Add 'Food Order' Stickers in Stories By Techtonic group Instagram recently gave users the option to promote small (and local) businesses by placing a sticker in their Stories. Now, the company has partnered with two of India's renowned food delivery apps -  Swiggy and Zomato  - to bring a similar feature to the restaurant owners. It has debuted a new  'Food Order' sticker  that restaurants can include in their Stories to drive sales. The Coronavirus-led lockdown saw almost all restaurants and eateries shut shop for several days. And even when they opened, netizens have been wary to eat outside or order in due to hygiene concerns. Well, as restaurants open up in line with the WHO safety guidelines, they can now head to Instagram to find a new 'Food Orders' sticker in the Stories section. This new sticker is interactive and will  enable users to place food orders  simply by tapping on the sa...

Xiaomi Mi True Wireless Earphones 2 To Launch Alongside Mi 10 on 8th May in India

Xiaomi Mi True Wireless Earphones 2 To Launch Alongside Mi 10 on 8th May in India By Techtonic group After multiple delays due to the nationwide lockdown, Xiaomi yesterday  announced  that its latest flagship smartphone - Mi 10 will launch in India on 8th May later this week. Now, the Chinese giant has taken to Twitter to reveal that it won't be the only product launching that day. Xiaomi uploaded a teaser video on Twitter just moments ago and it  reveals that the Mi True Wireless Earphones 2 will launch in India  alongside the Mi 10. The company first launched its truly wireless earbuds in China back in September last year, followed by a global launch in Europe in March earlier this year. Mi India ✔ @XiaomiIndia We love the wireless world. Mi fans, we're launching one more product you all have been waiting for, along with # Mi10 on May 8th. Leave your guesses in the comments.  RT if you #wirelessfreedom ...

How to Sign out of One Google Account When Using Multiple Accounts

  You can sign in to one or more Google accounts simultaneously on both your mobile and PC, but you can’t sign out of one account at a time on the web. Instead, Google forces you to sign out of all accounts at once, even if you only want to log out of one or two accounts. It’s  not a problem on Android or iOS devices  because you can sign out of Google accounts one at a time. However, that’s not possible on the web. So today, we will show you a nifty workaround that will help you sign out of one Google account on any device when using multiple accounts. Sign Out of One Google (Gmail) Account When Using Multiple Accounts The inability to log out of a single Google account at a time may not be a big deal for people who only use one Gmail ID, but it is  really inconvenient  for folks who manage multiple accounts. This tutorial will show you a trick that will let you sign out of only one Google account on your computer instead of having to sign out of all accounts a...