Grofers gets DIPP approval for online trading of food products

Grofers was the first company to seek in August last year approval under the new policy notified by the Department of Industrial Policy and Promotion
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Online grocery firm Grofers today said it has received government nod for retailing food products in India and will invest $40 million to expand operations in the country. Grofers was the first company to seek in August last year approval under the new policy notified by the Department of Industrial Policy and Promotion (DIPP), it said.

"Going a step beyond our initial commitment to the government, we intend to bring in an additional capital of $40 million within the next few weeks to expand our business further and grow the market," Grofers founder Albinder Dhindsa said in a statement.

This approval will go a long way in promoting the grocery retail business in India, he added.

The company is expected to use the funding to set up processing centres near mandis as well as bring in private labels for products as it looks to expand its play in the online grocery segment in the country.

 

 
 
 
 
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