Amazon is planning to open grocery stores in India, according to a latest report from the New York Times. The initiative is internally code-named as Project Everest, added the report. Amazon is expected to open its first grocery store in Bangalore.
The company recently sought Indian government’s permission to open food retail through online portals as well as brick-and-mortar outlets. Amazon already has AmazonNow grocery delivery and Amazon Pantry online grocery delivery services in India. Last year the Amazon CEO, Jeff Bezos had announced investment of $3 billion in Indian operations that took its total investment to $5 billion in the country. The government approved 100% FDI for marketplace model of e-commerce in India.
The latest report does not offer other details about Amazon’s plans about grocery stores in India. In addition to the grocery stores, the report says, Amazon is planning to launch physical retail stores worldwide, according to people familiar with the matter, as per the report. As per the report, the company is mulling to open physical stores for items such as furniture.