Amazon Fires Up Walmart Rivalry By Entering This $1T Sector: Bloomberg

Amazon.com Inc AMZN is attempting to crack India's out-of-date agricultural sector via its Reactive and Proactive Crop initiative, the Bloomberg reports.
Amazon aims to secure the farm produce, yielding two-thirds of the country's $1 trillion in annual retail spending.
Amazon's mobile app addresses soil, pests, weather, disease. It can also supply machine learning algorithms to detect defects in fruits and vegetables.
The app will help farmers sort, grade, and pack produces for transport to Amazon Fresh fulfillment centers.
Amazon's move follows China's, joining Reliance Industries Ltd, arch-rival Walmart Inc's WMT Flipkart, and the Tata Group's acquisition of online grocer Bigbasket.
Securing a steady stream of fruit, vegetables, and other groceries is key to dominating Indian online commerce.
Price Action: AMZN shares traded higher by 0.12% at $3,475 in the premarket session on the last check Wednesday.

Overview Rating:

Good

100

0100