Amazon takes on Swiggy, Zomato; rolls out food delivery services in India

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com Inc is rolling out services to deliver food in India, pitting it against established players and in a market that has seen explosive growth in the last few years.


already has a strong presence in India with its e-commerce business and the food delivery services would only add an attractive option for the company that has been investing heavily in the country.



“Customers have been telling us for some time that they would like to order prepared meals on in addition to shopping for all other essentials,” an Amazon spokesperson said in a statement, adding that the company had rolled out the feature in Bengaluru.


Sources told Reuters last year that the Seattle-based company was planning to enter the highly competitive business in India, but the move was delayed as the company tried to sort out logistical issues.

 





Amazon launched its Prime services in India in 2016 and already offers services such as video and music streaming as well as grocery delivery in many cities across the country.


The company’s move comes at a time when

China Parliament Eyes Hong Kong National Security Law After Unrest

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China’s parliament said Thursday it will introduce a proposal for a national security law in Hong Kong at its annual session, in a move likely to stoke unrest in the financial hub.

Beijing has made clear it wants new security legislation passed after the semi-autonomous city was rocked by seven months of massive and sometimes violent pro-democracy protests last year.

The proposal will be introduced on Friday, the first day of the National People’s Congress, and would strengthen “enforcement mechanisms” in the financial hub, the parliament’s spokesman Zhang Yesui said.

China’s parliament considers it “necessary to improve and uphold the ‘One Country, Two Systems’ policy,” Zhang said, referring to the arrangement that has underpinned the city’s liberties and free market economy.

Article 23 of Hong Kong’s mini-constitution, the Basic Law, says the city must enact national security laws to prohibit “treason, secession, sedition (and) subversion” against the Chinese government.

But the clause has never been implemented due to deeply held public fears it would curtail Hong Kong’s widely cherished civil rights.

The city enjoys freedoms unseen on the Chinese mainland which are protected by an agreement made before former Britain handed the territory back to Beijing in 1997.

An attempt

Finance Ministry cautiously optimistic about economic revival in late FY21

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The government said on Wednesday that it was aware of the effect of the on economic activity in the country and was cautiously optimistic about the revival of growth later in the year.


In its macroeconomic report, the did not reveal its projections for 20120-21. It, however, said the International Monetary Fund (IMF) had projected India’s GDP growth in FY 2020-21 at 1.9 per cent and 7.4 per cent a year later.



ALSO READ: Actual GDP growth in FY21 depends on intensity of Covid-19: FinMin Report


Chief Economic Advisor Krishnamurthy Subramanian also pegged the GDP growth at 2 per cent for FY’21.


His predecessor Arvind Subramanian, however, had doubted IMF’s projections and said the projection was too optimistic.

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