- Shares of Swiggy and Zomato fell by up to 5% amid news of Amazon launching its quick commerce service in India.
- Amazon’s entry is seen as a significant threat, potentially impacting the existing players’ market share and financial forecasts.
- Amazon India plans to offer fast delivery services, aiming to deliver groceries and other items within 15 minutes in Bengaluru initially.
Swiggy and Zomato stocks drop due to Amazon’s new quick commerce venture in India
