Amazon Accelerates Toward a Multibillion-Dollar Opportunity in India
India's online grocery market has enormous potential, and Amazon (NASDAQ: AMZN) has taken notice. The e-commerce giant earlier this year acquired a 49% stake in Future Coupons, gaining a foothold in a fast-growing niche in that nation's retail sector that could generate billions of dollars in revenue in the long run.
Management consulting start-up RedSeer predicts that India's online grocery spending will rise from just $1.2 billion last year to $8.7 billion in 2022, clocking a compound annual growth rate of 60%. Amazon is now positioned to take advantage of this opportunity, and it has started putting its stake in Future Coupons to good use.
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Source Fool.com
