Bigbasket sells everything from fresh leafy greens to kitchen mops, spice mixes and savoury Indian tea-time snacks. Aniruddha Chowdhury/MintBangalore: Alibaba Group Holding Ltd led a $300 million investment into India’s biggest online grocer Bigbasket, signalling that the region’s segment is firing up. India’s retail market is worth over $900 billion and grocery shopping accounts for about $600 billion of that, Menon said. Bigbasket’s rivals include India’s leading online retailer Flipkart Online Services Pvt., as well as the SoftBank Group Corp.-backed Grofers. Growth will require capital expenditures, and Amazon got local government approval last year to invest $500 million into food retailing.

Source: Mint February 02, 2018 03:22 UTC