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Commerce and Industry Minister Piyush Goyal emphasized the need for e-commerce companies to adhere to foreign direct investment (FDI) laws, urging compliance in both letter and spirit. His remarks, made during an event in Mumbai, addressed concerns over the impact of quick commerce platforms on traditional kirana stores, following accusations from the Confederation of All India Traders against companies like Blinkit, Instamart, and Zepto.
Swiggy's market debut on November 13 intensifies its rivalry with Zomato, which has seen its shares rise over 100% since 2021. While Zomato leads in key segments, Swiggy's lower valuation may allow it to catch up, particularly in food delivery, though challenges remain in quick commerce. Aditya Suresh from Macquarie Capital notes that Swiggy is 4-6 quarters behind Zomato but has a clear path to expand its monthly transacting users.
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