The latest infusion brings the total capital pumped into Amazon's e-commerce business in India to Rs 22,390 crore
Future Retail on Saturday said it has missed the due date for payment of Rs 3,494.56 crore to banks and lenders as it could not sell assets due to its ongoing litigation with amazon, impacting its monetisation plans. Future Retail had last year entered into a one-time restructuring (OTR) scheme for COVID-19 hit companies with a consortium of banks and lenders and was to discharge "an aggregate amount of Rs 3,494.56 crore" on or before December 31, 2021. Kishore Biyani-led Future group firm would be "co-operating for completing the monetisation of the specified business within next 30 days" as per directions of the banks to resolve the current situation, said a regulatory filing by Future Retail.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
Jack Ma who had five years ago said he was inspired and excited by "Make in India" possibly understood the essence of the signature campaign better than some others and decided to stay away from India other than as an investor, says Nivedita Mookerji.
Food delivery apps Zomato and Swiggy reported a nationwide outage on Wednesday. Both the platforms witnessed technical glitches and were unresponsive for almost an hour. Downdetector, a platform that collects status reports from a series of sources, recorded about 3,619 reports of outage against Zomato at 2:05 PM and about 771 reports of outage against Swiggy at around 2:21 PM. According to the sources, the outage was caused by Amazon Web Services (AWS), a cloud-services platform, which runs both platforms. Though Swiggy and Zomato are working now, some customers reported that the issue has not been solved completely and they are not able to place orders and there are payment related issues.
One needs to charge the device every four days, which can provide over 65,000 blood readings and counts.
Exclusive video: The supermodel & marathoner on the Indian sensibilities of his athleisure line.
Experts say the new guideline is likely to hurt foreign players more, especially card companies such as Visa, MasterCard and American Express who process and store credit card transaction data outside of India.
Take a look at the celebrity showstoppers who worked their magic at the Amazon India Fashion Week Spring/Summer 2017.
India is likely to see over 100 mature, large-scale profitable or on the path to profitability startups in the next five years, of which 80 have the potential to go for public listing, market research and consultancy firm Redseer said on Tuesday. Redseer Strategy Consultants, in a report on IPOs, said 20 of the mature startups have gone public so far. "India may see over 100 matured, large-scale profitable/path-to-profitability start-ups in the next five years.
A day after getting permission to raise its Unified Payments Interface (UPI) user base to 100 million, WhatsApp on Thursday said it has plans to make significant investments in 'payments on WhatsApp' across India, including India-first features and driving adoption. The company, however, did not share details of its plans. The Meta-owned messaging app got its first greenlight for its payments service from the National Payments Council of India (NPCI) in November 2020 with a cap of 20 million users. A year later, in November 2021, the limit was raised to 40 million users.
Will open radio access network technology (O-RAN) disrupt the way 5G networks roll out in the country? After all, it promises to offer a substantially lower capital cost, enables the choice of an array of vendors, and provides more network flexibility - all very important for telcos who expect to invest over Rs 60,000 crore to roll out a pan-India 5G network and that's without spectrum costs. But more importantly, it counters the stranglehold of global telecom gear makers such as Ericsson, Nokia, and Samsung over telcos to whom they sell propriety technology and bundled hardware and software.
Online biggies and global retail giants are working on being omnipresent in both the virtual and the real world to see what helps them get the numbers, says Karan Choudhury.
Promising new seasons of beloved shows, provocative stories and action packed dramas, Sukanya Verma says it's all there on OTT this week.
As many as 48 companies, including Reliance Retail, Jindal Power Ltd and Adani group, are in the final list of eligible prospective resolution applicants for acquiring debt-ridden Future Retail Ltd. The Resolution Professional of Future Retail Ltd (FRL), which is currently going through an insolvency resolution process, on Monday came out with the final list of 'Eligible Prospective Resolution Applicants'. On April 10, FRL's RP updated a list of 49 companies, which had submitted Expressions of Interest (EoIs) after the company's lenders decided to invite fresh bids after dividing its assets into clusters.
For those who enjoy stand up comedy, Comicstaan 3 makes amusing viewing, enough to lift the monsoon gloom, applauds Deepa Gahlot.
Jubilee's irresistible celebration of cinema and all its good, bad, ugly ways lives up to its title, applauds Sukanya Verma.
Amazon, however, claimed that it is just a service provider and doesn't own goods at any point of sale due to which it is not liable to pay this tax.
'There is a lot of money coming into the business, people are consuming a lot of content, there is no dearth of new films and shows coming out of India and being available worldwide.'
As of December 2021, Netflix India stood at an estimated 5 million subscribers against 46 million for Disney+Hotstar and 19 million for Amazon Prime Video.
After a rather dull April when there were hardly any theatrical or OTT releases, May would be a lot more crowded with a dozen odd movies and web series arriving.
Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform. The deal, which was poised to fetch anywhere between $150-200 million and $300 million, has hit a snag over lapses in due diligence, disagreements over valuation, sustainability of the business, and shareholding structure of ZestMoney, according to people familiar with the matter. The collapse of the deal is also being attributed to a slowdown in the financial technology (fintech) sector in the midst of a funding winter, difficult regulatory environment, and macroeconomic uncertainty, informed other sources.
As 2022 draws to a close, a lot of movies and Web series are readying for release.
'The real India lives in the villages where everyone is trying to improve the other.'
Back home, the Nifty IT index - a gauge of the performance of the IT stocks on the National Stock Exchange (NSE) that has closely mirrored the performance of NASDAQ over the past few years - has lost nearly 2 per cent in CY23.
Snapdeal to invest up to $200 mln to improve deliveries.
Microsoft chairman and CEO Satya Nadella on Tuesday said there is a tremendous momentum in cloud adoption, as he termed cloud a "big game changer". Nadella, who is currently in India, addressed Microsoft Future Ready Leadership Summit in Mumbai on Tuesday. He is also scheduled to visit Delhi and Bengaluru this week, and will be meeting key customers, startups, developers, educators and students during his India visit.
The high court had passed the restraining order after Ramdev claimed that the book had defamatory content.
Once again, tax demands on foreign investors cause worry.
Tanvi Marupally from Conway, Arkansas was last seen in her neighbourhood on January 17 when she left for school on the bus, the Conway police department said.
As India builds its data centre capabilities, it is imperative that it is supported by green energy. This is because data centres are guzzlers of energy.
Detectives, superheroes, biopics, documentaries, it's all there on OTT this week. Sukanya Verma offers some suggestions.
'We want to achieve overall profitability, and then we would go for an IPO.'
India believes in sabka saath, sabka vikas, sabka vishwas, sabka prayaas and walks ahead with it, Modi said.
The Autumn-Winter 2015 season of Amazon India Fashion Week has drawn to a close and we like what we've seen. Here are our picks from the lot!
Incubated for over three years, the OnePlus 5 comes with a Snapdragon 835 processor.
The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.
It was only a matter of hours before I would be declared persona non grata; all my work would turn to ashes, and I would be revealed as a typical untrustworthy Indian. I steeled myself for the axe to fall.
The combined market-cap of all listed Adani group firms has plunged nearly Rs 7.11 trillion since January 24 when the Hindenburg report was made public.
E-commerce firms and sellers including Amazon and eBay have made recommendations to the government for a differentiated policy framework for e-commerce in the revised Foreign Trade Policy (FTP) which is expected to come into effect from April 1, 2021. This is because the existing policies on exports have catered largely to traditional, offline and business-to-business exports. Suggestions have been made to the government that through the FTP, it is important to create a conducive policy framework for e-commerce exports that lowers the entry barrier for small businesses to start exporting, according to the industry sources.
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