Amazon food delivery to shut down in India
In an official announcement last Friday, the global e-commerce platform Amazon stated that they will shut down their food delivery business in India on December 29, 2022. Launched in May 2020, the service called 'Amazon Food' was first made available in Bengaluru.
'Amazon Food' was discontinued as per the company's recent approach to restructuring their Indian market. Last month, Amazon announced that they will also be shutting down Amazon Academy, an online learning platform launched last year by Amazon for Indian high-school students.
In the latest announcement, Amazon stated that despite the closure of Amazon Food, they will remain focused on providing their "growing customer base the best online shopping experience with the largest selection of products at great value and convenience."
According to a report by TechCrunch on the matter, Amazon thus far has invested over $6.5 billion in the Indian market.
In an analysis by the brokerage firm Sanford C. Bernstein, in 2021, Amazon had a gross merchandise value of about $20 billion in India.