New Delhi: Amid an exercise to wind up certain verticals as part of global exercise to cut costs, Amazon on Monday announced to shut down its wholesale distribution business in India.
The e-commerce major is discontinuing Amazon Distribution, its wholesale e-commerce website available in some parts of Bengaluru, Mysore and Hubli.
The company earlier shut down its food delivery and online learning platform called Academy in India.
“We don’t take these decisions lightly. We are discontinuing this programme in a phased manner to take care of current customers and partners,” a company spokesperson said in a statement.
Amazon had launched its distribution service to empower local kirana stores, pharmacies and department stores in the country.
Last week, Amazon said it is shutting down its food delivery business in India, a day after it announced to shut down its edtech vertical in the country.
Amazon started its food delivery service in India in May 2020.
“As part of our annual operating planning review process, we have made the decision to discontinue Amazon Food,” said a company spokesperson.
The company has denied laying off people in India.
-IANS
PM Modi meets global investors ahead of Bharat Innovates Summit in France
Nice/New Delhi: Ahead of the inauguration of the Bharat Innovates Summit in Nice, Prime Minister Narendra Modi on Sunday interacted with select investors and venture capital leaders from India, France...
El Nino likely to impact food prices, inflation projected to settle in 5.2–5.5 pc range in FY27
New Delhi: There is 80 per cent likelihood of an El Nino event during the June–August period and probabilities for this, to continue until at least November, are near or...
SpaceX settles 19 pc higher on debut day with market cap at record $2.2 trillion
New Delhi: Elon Musk-run SpaceX’s initial public offering delivered a blockbuster debut in the US, handing early buyers a 31 per cent gain, before settling up 19 per cent above...
Crude oil prices surge up to 1 pc as US-Iran tensions escalate
New Delhi: Global crude oil prices traded higher on Wednesday, increasing by up to 1 per cent after the United States launched strikes against Iranian military targets near the Strait...
India’s 7.7 pc GDP growth driven by a decade of economic reforms: Piyush Goyal
New Delhi: Commerce Minister Piyush Goyal on Monday said India's 7.7 per cent GDP growth reflected sustained policy interventions and economic reforms undertaken by the government over the past decade,...
Domestic LPG prices raised by Rs 29 per cylinder; 2nd hike since West Asia conflict began
New Delhi: Domestic cooking gas prices have been increased by Rs 29 per cylinder, marking the second hike in three months as state-owned oil marketing companies continue to face pressure...
RBI hikes equity investment limits for NRIs, OCIs
Mumbai:The Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday announced that the limits for investment by NRIs and OCIs in equity instruments traded on the stock market without...
RBI pegs real GDP growth at 6.6 pc for FY27, inflation at 5.1 pc amid global disruptions
Mumbai:The Reserve Bank of India (RBI) on Friday projected real GDP growth for 2026-27 at 6.6 per cent -- with Q1 at 6.6 per cent; Q2 at 6.3 per cent;...
RBI keeps repo rate unchanged at 5.25 pc, maintains ‘Neutral’ stance
Mumbai:The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Friday unanimously decided to keep the policy repo rate unchanged at 5.25 per cent, in line with the expectations...
India-US trade deal 99 pc finalised, remaining issues being resolved: Sergio Gor
Mumbai: The proposed India-US trade agreement is “99 per cent there”, with only a few remaining issues left to be resolved, US Ambassador to India Sergio Gor said on Wednesday,...
Commercial LPG prices hiked again; Delhi rate up by Rs 42, Kolkata sees Rs 53.50 increase
New Delhi: Commercial LPG prices have been increased once again, adding to the cost burden faced by restaurants, hotels, caterers and small businesses across the country that rely heavily on...
El Nino likely to add to existing inflationary pressures, buffer stocks well-positioned: Eco Review
New Delhi: If rainfall is deficient due to the development of El Nino in June, the transmission to food inflation, rural demand and aggregate growth could be swift, adding...
