Tata Group chairman Natarajan Chandrasekaran on Thursday said the group's recently launched super app Neu is on an open architecture and it will host non-group brands as well. The Tatas finally launched its super app Tata Neu on April 7, after piloting it for months, but the group chairman claimed there was no delay in the commercial launch. Stating that the app has received an overwhelming response in the past seven days of going live, Chandrasekaran said the app is on an open architecture and will host products and services from non-Tata group companies.
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.
Everyday consumerables, such as grocery and order-in food items are the key buyout sector, analysts say, and a major reason for kirana stores' digitisation push.
Many small-scale start-ups are operational in this space for some years now. Larger players, too, seem to have realised the potential and are now entering into the fray, mostly through acquisitions.
The Delhi high court's division bench has stayed the single bench order favouring the emergency award against the Future-Reliance deal and imposing a Rs 20 lakh fine on Kishore Biyani & other respondents. including FRL and FCPL.
Public sector lender Bank of India has moved to the National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against Future Retail Ltd and a moratorium over the assets of the Kishore Biyani-led debt-ridden firm. Besides, Bank of India (BOI), the lead banker of a consortium of banks that lent money to Future Retail Ltd (FRL), also suggested the insolvency tribunal appoint Vijay Kumar V Iyer as the interim professional of the company. Meanwhile FRL, in a regulatory filing, said it has been served and received a copy of the petition and is in the "process of taking legal advice".
The Delhi high court on Thursday upheld the Singapore Emergency Arbitrator's (EA) order restraining Future Retail Ltd (FRL) from going ahead with its Rs 24,713 crore deal with Reliance Retail to sell its business, which was objected to by US-based e-commence giant Amazon.
Walmart, the world's largest retailer, is tripling its sourcing from India to about $10 billion a year by 2027, said Judith McKenna, president, and chief executive officer of Walmart International, the segment which includes the company's operations outside the US. "To achieve this, we are growing our sourcing team in India," said McKenna, during a fireside chat with YourStory founder Shradha Sharma at Converge@Walmart, the flagship event of Walmart Global Tech India. "Walmart has a 20-year history of sourcing from India and already exports more than $3 billion worth of Made-in-India goods each year to 14 markets worldwide." McKenna said the company has expertise in processes such as international standards and demand forecasting that businesses need to get ready to export.
I binged on various shows this year -- some for work, some for pleasure, few I couldn't spare time for, others I didn't have access to while some started out fabulously only to fizzle towards the end.
To take on Amazon, Paytm e-commerce plans to add close to a billion products from all across the globe to its shopping cart.
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.
By the end of 2017, the Chinese firm had emerged as the fastest growing brand after posting 343 per cent growth with 19 per cent market share for the full year.
Deepa Gahlot lists 10 gangster thrillers on OTT for those who have the stomach for gaalis and gore.
What sold the most this year? Beauty, toys and baby care, sports and fitness, television and large appliances, followed by fashion, says T E Narasimhan.
Ajit Balakrishnan offers a thinking man's guide to the state of ecom in a nation of shopkeepers.
Society of Manufacturers of Electric Vehicle (SMEV) on Thursday said sales of EVs in India fell 20 per cent in the financial year 2020-21 to 236,802 units. In 2019-20 sales of electric vehicles (EVs), including electric two-wheelers (E2W), electric three-wheelers (E3W) and electric four-wheelers (E4W), stood at 295,683 units. For FY21, the E2W segment sales declined by 6 per cent to 143,837 units, as compared to 152,000 units in FY20, SMEV said in a statement, adding that the FY21 E2W sales included 40,836 high-speed and 103,000 low-speed E2W. The E3W segment registered sales of 88,378 units as against 140,683 units sold in FY20.
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.
'We want to achieve overall profitability, and then we would go for an IPO.'
Bangalore-based Smriti Subs was first scouted when she was 13.
Future Retail Ltd has said that SEBI's one-year ban on its chairman Kishore Biyani and some other promoters from the securities market will have "no impact" on the Rs 24,713 crore-deal with Reliance. Further, Kishore Biyani, some other promoters and Future Corporate Resources Pvt Ltd (FCRPL) plan to appeal against the order passed by Securities and Exchange Board of India (SEBI) on Wednesday. "The order will have no impact on the ongoing Scheme of Arrangement of the company. We understand that the relevant parties propose to challenge this order in exercise of their statutory right to appeal," Future Retail Ltd (FRL) said in a late-night regulatory filing on Wednesday.
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.
Higher advertising spends to grab customer eyeballs take a toll on startups across segments
The Indian retail segment has its own uniqueness and the country is one of the most exciting markets globally that is poised to grow to over a trillion dollars by 2025, according to Walmart Inc President and CEO Doug McMillon. Speaking at the Converge@Walmart event, McMillon noted that given the diversity of the Indian market, the company has to "think local and execute locally". "India is such a diverse market, it's not one country in some ways and so we have to think local and execute locally, and it has its own rules, and so, we've got to comply with those rules," he said.
Snapdeal delivers to the Dharavi centre, where buyers pick up their orders.
As many as 49 players including Reliance Retail, Jindal Power Ltd and Adani group have submitted Expression of Interest (EoI) for acquiring the assets of debt-ridden Future Retail, which is currently going through insolvency resolution process. Reliance Retail Ventures Ltd, which is the holding company for retail operations of RIL and April Moon Retail Private Ltd, a joint venture between Adani Airport holdings and Flemingo group have again submitted their EOI, after the lenders of Future Retail decided to invite fresh bids after dividing FRL's assets into clusters. According to an update from FRL's Resolution Professional, the 49 players would be permitted to submit "resolution plan(s) for any/all such Clusters under Option II".
Amazon.in has announced the launch of first-of its-kind women-only outlets for delivering products.
The Centre has slapped as many as 148 notices on e-commerce players in the past three months for not complying with the mandatory display of the 'country of origin' tag on products sold. "Of the 148 notices, 56 have compounded it (the offence) and paid up around Rs 34 lakh," a senior official told Business Standard. "Every product has to display the country of origin, along with other basic information," the official added. In the case of e-commerce companies, these details have to be clearly displayed on their portals.
The Tata group on Thursday launched its super app, Tata Neu, bringing all its brands in one platform as it seeks to play a major role in the Indian ecommerce space currently dominated by the likes of Amazon and Flipkart.
The Competition Commission has approved Reliance's proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group. The Rs 24,713 crore deal that would boost Reliance Industries' fast growing retail business was announced in August. In a tweet on Friday, the regulator said it has approved "acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited".
India has the third highest number of billionaires in the world after the US and China, according to a new list by the prestigious Forbes magazine, which said Reliance Industries chairman Mukesh Ambani reclaimed his spot as Asia's richest person, dethroning Chinese business tycoon Jack Ma who was the richest person in the region a year ago.
India believes in sabka saath, sabka vikas, sabka vishwas, sabka prayaas and walks ahead with it, Modi said.
'Rani made it very clear when she signed the film that she would shoot only during her daughter's summer vacation so as not to disturb her role as a real life mother.'
Gautam Adani is now the fourth richest person on the planet. The chairman of the Adani group overtook Bill Gates -- once the richest man in the world -- this week.
USISPF slammed government's move and alleged that the amendments announced were without any consultation and are akin to changing rules in the middle of the game.
Future Retail Ltd (FRL) on Monday said the Delhi high court has ruled that statutory authorities cannot be restrained from acting in accordance with law and stayed a previous order on status quo of its Rs 24,713 crore deal with Reliance. Updating stock exchanges about the court ruling, FRL said a Division Bench comprising Chief Justice D N Patel and Justice Jyoti Singh has stayed the operation and effect of order passed by single Judge J R Midha on February 2. "...inter alia, for the prima facie reason that the company is not a party to the Shareholders Agreement dated August 22, 2019 executed between Amazon, Future Coupons Private Limited and the Promoters of FRL, under which arbitration was initiated by Amazon in Singapore," FRL said.
'It's pretty likely that Kissinger, Rice et al came bearing gifts (read Trojan Horses) from McDonnell Douglas, Boeing, Grumman, Northrop, and all the other Military Industrial Complex stalwarts,' argues Rajeev Srinivasan.
'On the road, you see only youth in Swiggy, Big Basket and Zomato uniforms.' 'Just now, I had a delivery from Amazon, and do you know what his qualification was? He was an engineering graduate!' 'The Ola driver who took me to the airport had an MCom degree. 'Where is the match between education and employment?'
Mumbai-based LocalBanya is looking to expand to Pune and Delhi as part of its growth strategy.
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
Glimpses from the Christian Dior Womenswear Fall 2023 show which took place at the Gateway of India, Mumbai.
