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Capital-rich Chinese investors march into India's blooming food takeout market

Capital-rich Chinese investors march into India's blooming food takeout market

An Indian employee packs lunchboxes in the kitchen of an online food delivery firm in Mumbai, India. File photo: VCG


Chinese tourism website ctrip.com is reportedly considering investing in Zomato, an India-based food delivery company, joining other big online Chinese names like Meituan Dianping and Alibaba, which have already invested in Indian food delivery companies. Experts say that as the trend of eating out rises in India, food delivery companies are grabbing market shares through unchecked money spending, which means they need capital from overseas investors. Chinese companies are being welcomed not only for their money but also for their success at home.

Chinese internet giants that have been searching the world for good investment projects are now pumping their capital into India's food delivery industry, which is rapidly growing thanks to the rise of the younger generation and their burgeoning consumption power.

The newest potential investor is ctrip.com, a renowned Chinese online tourism service provider. 

According to a report published by the Times of India on September 10, the tourism website is currently in talks to invest in India's online restaurant rating and food delivery platform Zomato as part of a financing round.

The report, which cited two people familiar with the matter, also noted that Ctrip is expected to invest about $100 million in Zomato. 

Neither Zomato nor Ctrip had responded to an interview request from the Global Times as of press time.

"This allows the company to make money from restaurant advertising and also via commissions on food delivery," Satish Meena, an analyst from global research and advisory company Forrester, told the Global Times. 

 

By Courtesy of globaltimes.cn

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