Zomato expects food delivery biz to grow 30% annually over 5 yrs: Executive

Indian food delivery major Zomato expects its key meal delivery business to grow at an annual rate of 30% over the next five years, a top executive said, hailing the listing of SoftBank-backed peer Swiggy as a boost for the sector.

Apps delivering everything from grocery to food within minutes have expanded rapidly in the world’s most populous country, turbocharged by demand from the affluent and middle class in its large cities.