Investing in BigBasket would help Paytm in further strengthening its play in the e-commerce space.
The due diligence is on and the deal could be finalised in the next few weeks, sources privy to the development said.
During 2014-15 India produced 86.602 million metric tonnes of fruits and 169.478 million metric tonnes of vegetables
In the US, online retail accounts for 10 percent and in India it is 1-2 percent while it is 8 percent in China.
The action follows a controversy over a host of companies, majorly startups finding the going tough, either revoking the offer letters or delaying joining dates which have impacted students
Snapdeal-backed PepperTap has decided to shut down its cash-burning grocery delivery operations and instead focus on expanding its logistics business.
The decision to shut operations will result in about 150 job losses.
PepperTap acquires Bengaluru-based hyperlocal grocery delivery startup Jiffstore for an undisclosed amount