【MUMBAI/NEW DELHI】India could allow global online retailers such as Amazon.com Inc to sell their own products as early as next month, removing restrictions that have held back competition in one of the world's biggest, and most price-sensitive, retail markets.
The decision, which is likely to be announced in or alongside the budget, is one of the first tangible signs of economic reform by the business-friendly government of Prime Minister Narendra Modi, who was sworn in 10 days ago.
The move could allow the government to circumvent political opposition to opening up India's $500 billion retail sector to global retail giants such as Wal-Mart Stores Inc.
○Online grocery stores set their clocks faster
【BANGALORE】No one likes to shop for groceries in overcrowded markets or wait endlessly for their turn at cash counters, especially after a tiring day at office. Online grocery retail is an alternative, but the delayed delivery is a put-off.
Sensing an opportunity, online grocery stores such as LocalBanya.com, BigBasket.com and Jiffstore are upgrading their services to deliver within hours.
The retail market in India is expected to hit $725 billion by 2017, of which online grocery is expected to contribute about 2 per cent, according to market estimates.
【News source】
India likely to ease restrictions for foreign online retailers in July
Govt set to ease FDI norms for online retailers
Centre may flip online shopping cart, ease rules to give foreign cos more play
Online grocery stores set their clocks faster
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