Last updated : June 02, 2020 1:55 pm
India's Department for Promotion of Industry and Internal Trade(DPIIT) rejected Flipkart’s proposal to enter the food retail business, citing regulatory issues.
Walmart Inc's Indian e-commerce unit Flipkart said it would re-apply for a food retail license in India. According to reports, India's Department for Promotion of Industry and Internal Trade(DPIIT) rejected Flipkart’s proposal to enter the food retail business, citing regulatory issues.
"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," the company said in a statement.
If successful, Flipkart would compete with Amazon.com Inc's India unit, Alibaba-backed BigBasket, SoftBank-backed Grofers, and Reliance Industries Ltd's recently launched JioMart.