London — Amazon.com is in preliminary talks to buy the Indian grocery site BigBasket, as the US company steps up efforts to gain ground in the fast-growing market, according to people familiar with the matter. The discussions are at an early stage and may not lead to a sale, the people said, asking not to be identified as the negotiations are private. BigBasket, run by SuperMarket Grocery Supplies, is India’s largest online grocer and operates in about 25 cities across the country. A spokesperson for BigBasket said that it was untrue that Amazon was in talks to buy the firm. A representative for Amazon declined to comment. Amazon CEO Jeff Bezos has vowed to spend $5bn in India in coming years as he competes against local rivals. Amazon’s success in the country has pushed the two largest domestic e-commerce players, Flipkart and Snapdeal, into a preliminary agreement to combine. BigBasket raised $150m in 2016 in a funding round led by Dubai’s Abraaj Group, and its backers also includ...
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