AMAZON.COM INC has secured clearance to deliver alcohol in India's eastern state of West Bengal, signalling the U.S. e-commerce giant's first foray into the country's multi-billion-dollar sector.
In a notice on Friday (19), West Bengal State Beverages Corp, the authorised agency to carry out online retail of liquor trade in the state, said Amazon was among the companies found to be eligible for registration with authorities.
Alibaba-backed Indian grocery venture BigBasket has also won approval to deliver alcohol in the state, the notice said.
West Bengal is India's fourth most populous state, with a population of more than 90 million people.
Amazon has been invited to sign a memorandum of understanding with the state, said the notice, which has not previously been reported.
Amazon and BigBasket did not respond to requests sent by Reuters for comments.
Amazon's interest in delivering alcohol in West Bengal marks a bold move to make inroads into a market that is worth $27.2 billion, according to estimates by IWSR Drinks Market Analysis.
Over the years, Amazon has expanded its e-commere operations in India as more and more people go online to shop for everything from groceries to electronics. The company has committed $6.5 billion in investments in India, one of its key growth markets.
India's top two food-delivery startups, Swiggy and Zomato, started delivering alcohol in some cities last month, as they looked to cash in on the high demand for booze as many states come out of a lockdown aimed at tackling the coronavirus.
India restricted liquor sales when it announced a nationwide lockdown in March. Hundreds of people queued up at liquor stores in May when some restrictions were eased, and the liquor industry had been lobbying with many states to allow online deliveries.
Each state sets its own alcohol sales policy. West Bengal last month invited companies to express interest for "handling electronic ordering, purchase, sale and home delivery of alcoholic liquors from licensed retail outlets" to eligible legal-age consumers in the state
Mago Capital acquires the 145,000 square foot Notting Hill Gate Estate for £180million.
Prideview Group plays key role, completing £200million in London deals this year
Eastway Estates to back Mago Capital’s future property investments.
Prideview powers Mago’s expansion
Mago Capital has purchased the 145,000 square – foot Notting Hill Gate Estate in London for £180 million from Frogmore and Morgan Stanley. The purchase is part of its push to expand its £500 million Central London portfolio, through Prideview Group deal. The company has been actively buying premium properties across Central London.
For Prideview Group, this is another important achievement. The firm has completed over £200 million in Central London deals so far this year, becoming a significant player in the premium property market.
"We've always believed in the long-term value of prime London real estate, and this deal reinforces that," said Jesal Patel, Principal at Prideview Group. "We were able to move quickly with Mago Capital to secure an exceptional property in one of London's most iconic locations."
Ed de Stefano from Tydus Real Estate, told BE news, "The Notting Hill Estate provided a fantastic opportunity to acquire a 100 per cent prime, recently redeveloped, mixed-use estate, in one of central London's most affluent submarkets."
The deal involved several specialists including Tydus Real Estate, Freedman + Hilmi, and Brotherton, showing how complex such large property purchases can be. Prideview Group's investment arm, Eastway Estates, sits on Mago Capital's board and will support their future property acquisitions.
Looking forward, Prideview Group wants to manage £1 billion worth of property within the next 12 to 24 months. The firm is looking to work with investment funds, property agents, brokers, and other property companies to buy more assets.
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