Resurfacing a 2017 move: BigBasket won approval for FDI-backed retail of India-made food products
Back in August 2017, BigBasket received approval to retail food products made in India with foreign investment. The e-grocer had to house the business in a separate entity because its existing platform also sells non-food household goods. BigBasket committed about Rs 100 crore, part of $695 million proposed across three applicants.
BigBasket received government approval for FDI-backed retail of India-made food products. It must create a separate entity because its existing platform also sells non-food household goods. BigBasket had committed about Rs 100 crore; three applicants proposed combined investment of $695 million.
Why this matters
The 2017 approval adds context to BigBasket's recent offline expansion to broaden reach ahead of a potential 2025 IPO, while echoing a January 2023 move tied to the same expansion strategy.
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