New Delhi (Sputnik): Amazon CEO Jeff Bezos termed India as one of the most important markets for the e-commerce giant during his visit to the South Asian country in January. Since then, the platform has launched a “COVID-19 supply store” in the nation, with speculation about the start of an online pharmacy being widely circulated.
Branded as “Amazon Pharmacy”, one of India’s largest online marketplaces has confirmed the launch of online sales of over-the-counter drugs, prescribed medicines, basic health equipment, and herbal Indian medicines. However, the company did not reveal the start date of the service when announcing the development on Friday.
Amazon aims to improve its balance sheets in the Indian market with the launch, as the US-based firm has faced cut-throat competition from other e-commerce giants in India, including Walmart-owned Flipkart.
Amazon’s entry into the medicine segment, which will be started in the tech city of Bengaluru, is also likely to result in a tough battle for the already-established online Indian pharmacies, such as NetMeds and Medlife. The role of e-pharmacies in India has grown during the pandemic and lockdown provisions in the country.
E-pharmacies and online drug sales regulations are still in the formulation stage in India. In November last year, India’s drug regulator, the Drugs Controller General of India (DCGI), ordered all states and federally-administered territories to forbid the sale of medicines through unlicensed online platforms until the draft rules for regulating e-pharmacies are finalised.
It also urged the online pharmacies not to stock medicines and only take part in the delivery of drugs by partnering with offline retail pharmacies, a move opposed by the e-pharmas, which argued that it would increase their dependence on these local offline stores.
In a white paper titled “E-pharmacies at Covid-19 Frontline: Fighting the Odds, Serving the Nation”, the body says that it saw approximately $700 million in investments flowing into this segment in 2020.
India has more than 50 e-pharmacy platforms, which provide jobs to more than 30,000 people.
Meanwhile, in a similar development in May, the e-commerce giant announced its foray into the food delivery segment in select areas in India’s IT capital of Bengaluru. The food delivery sector is currently dominated by the likes of Swiggy and Zomato in India.
Sourse: sputniknews.com
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