Resurfacing a 2017 move: BigBasket won FDI approval for India-made food retail
Back in August 2017, BigBasket secured approval to retail food products made in India with foreign investment. The grocer had to establish a separate entity because its existing platform also sells non-food household goods; it committed about Rs 100 crore in investment.
BigBasket received government approval for FDI-backed retail of food made in India. It must create a separate entity because its existing e-commerce platform also sells non-food household goods. BigBasket had committed about Rs 100 crore; Grofers, Amazon and BigBasket proposed $695 million collectively.
Why this matters
The 2017 FDI approval complements recent signals on BigBasket's offline grocery expansion and a January 2023 offline push resurfacing as it sought broader reach ahead of a potential 2025 IPO.
Retail-company signals are accelerating, up 228450% quarter over quarter.