The two companies have been negotiating to remain separate entities after a merger.
'The World Cup alone is expected to create an additional 100,000 jobs, most of which will comprise gig workers in the delivery space, transportation, hospitality and event management.'
Amazon has built the largest store in India with 22 million products.
Reliance has announced that it will roll out its e-commerce platform to as many as 1.2 million retailers and store owners in Gujarat. This is part of a nationwide roll-out that will come later this yea, reports Viveat Susan Pinto.
The sale of Nature's Basket, Godrej's chain of food stores in west India, is the second exit by a big group in a year in the category
To tap the rapidly expanding online retailing market, Philips Lighting, a subsidiary of the Dutch consumer electronics giant Royal Philips, has partnered 'exclusively' with Amazon to sell its latest product range.
Stories are legion about the Karatmeter's use at that time. Hundreds of people standing in queue for testing, customers breaking down after discovering the actual purity of their jewellery and then becoming irate about the jeweller who had gypped them, the local jewellery industry leaning heavily on the Tanishq franchisees to desist from using it, some jewellers even threatening violent action.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
Similar discounts compared to online led to a spike in demand for offline, where customers can get a more personal and hands-on product experience.
The warning by the anti-trust watchdog has come days ahead of Amazon founder Jeff Bezos' India visit, about which the Seattle-headquartered company has been tight-lipped. Sources in the know indicated that Bezos, coming on a short trip, has sought a meeting with Prime Minister Narendra Modi.
Global sales made via mobile devices are expected to top $638 billion.
Unlike some of India's largest online retailers like Flipkart, Amazon, Myntra and Jabong, which are very secretive about their data and use it to cut better deals with brands than their competitors, the Nykaa monetising its insights. If it is is able to do so without giving away any of its advantages to competitors, it could be on to a winning model.
Social media platform Meta has appointed Vikas Purohit as Director of Global Business Group in India to lead the strategy and delivery of the charter that is focused on the country's leading advertisers and agency partners, the company said on Monday. Purohit will report to Arun Srinivas, director and head of ads business for Meta in India, it said in a statement. "I am thrilled to welcome Vikas as he joins our team to shape the role that Meta platforms can play in enabling businesses, supporting India's economic growth, and building the digital advertising ecosystem of the country," Srinivas said.
As the world celebrated International Day of Persons with Disabilities (PwD) on December 3, corporate India has kept up with efforts to make workplaces more inclusive and accessible. Organisations across sectors are taking initiatives such as equipping offices with practical work tools like Braille-friendly and voice-enabled lifts and screen readers. While inclusion has gained pace, only 11.3 per cent (or 3.4 million out of 30 million) Indians with disabilities have jobs.
US retail major is in talks with Flipkart, Snapdeal, ShopClues and Grofers for partnership.
Tomato prices in the retail markets of the national capital declined to an average Rs 150 per kg on Monday from Rs 178 per kg on Sunday, according to the government data. However, e-commerce players such as Amazon, Big Basket and Otipy are selling tomatoes at Rs 170-190 per kg in Delhi-NCR. Blinkit is selling at Rs 138 per kg. The Centre is selling tomatoes at a subsidised rate of Rs 80 per kg in Delhi-NCR and some other cities through the National Cooperative Consumers' Federation of India (NCCF) and the National Agricultural Cooperative Marketing Federation of India (NAFED).
'For how long can investors fund loss-making companies?'
The government guidelines say online marketplaces must not influence the sale price of goods and services but experts say e-commerce majors categorise discounts under marketing expenses.
Online retail in the country is expected to grow to $200 billion by 2026, up from $15 billion in 2016.
When Open Network for Digital Commerce (ONDC) was conceived last December, the idea was to reduce the dominance of e-commerce giants like Amazon and Flipkart. It was also to bring in a level-playing field for small merchants in India's fragmented but fast-growing $1-trillion retail market. However, those goals have changed now as large e-commerce players such as Flipkart, Amazon and Ecom Express are in various levels of talks with the ONDC team. They want to form partnerships like integrating with the network as well as providing their expertise to build it, according to the industry sources.
The Bureau of Indian Standards (BIS) will engage stakeholders in the e-commerce space to establish standards with the objective of self-regulation, said its deputy director Parul Gupta at the Internet Commerce Summit 2022 in Bengaluru. "Standardisation will allow parties to transact qualified commodities and services at any location and time," said Gupta. BIS recently released standards for e-commerce players, travel portals, and food delivery platforms that publish consumer reviews online, as part of the government's efforts to crack down on fake reviews, said Gupta.
While brick-and-mortar retailers have been the most vocal in their protests, e-tailers do not seem to be in a hurry.
Future Retail Ltd (FRL) on Wednesday said it is "committed" to reversal of takeover of its stores by Reliance Retail and will take all such action as may be necessary to seek value adjustments. The Kishore Biyani-led firm also said the action of the Reliance Group has come as a "surprise" to it. Moreover, the action of taking possession of its stores has "complicated" the positive scenario which had started building up after a CCI order in December 2021, FRL said in a regulatory filing.
The legal regime does not permit home delivery of medicines, tough owing to situation of COVID-19 pandemic and an emergency-like situation, the government allowed the home delivery of medicines but it was meant for only neighbourhood pharmacies, AIOCD said.
Riding on e-commerce wave is the youngest state, which faces competition from neighbours.
Sellers, especially the smaller ones, are planning to go to court as well as move CCI as they fear that Walmart could bring multiple private labels in India and flood the e-commerce platform with its own products.
The government on Thursday said 18,600 toys have been seized in the last one month from major retail stores, including those of Hamleys and Archies, at airports and malls across India for lack of BIS quality mark and use of fake licences. Meanwhile, consumer protection regulator CCPA has also issued notices to three major e-commerce players -- Amazon, Flipkart and Snapdeal -- for alleged violation of toys quality control order, it said. Since January 1, 2021, the government has made it mandatory for toys to conform with safety norms specified by the Bureau of Indian Standards (BIS), a national standard setting body.
The fresh meat and seafood delivery startup Licious plans to set up 500 stores nationwide within the next five years as part of an omnichannel strategy. The aim is to attract new users in the offline channel and encourage them to transact online as well. The move would also help the company in its efforts to achieve profitability and go for an initial public offering (IPO) in the next 24 months, according to the sources.
Reliance Industries on Saturday said its Rs 24,713-crore deal with the Future Group cannot go ahead as secured creditors of the latter have voted against it.
The FDI floodgates have opened mega opportunities for not only brick-and-mortar retailers, but for their virtual peers as well.
Retailer bodies to demand govt action against I-Day sales offers, threaten legal action for breach of FDI rules.
Still, the earliest India will get to experience Apple online will be early 2020 and the company's first fully-owned signature store should be up around 2022 -- almost two decades after it had opened its first store worldwide, writes Nivedita Mookerji.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
Policy constraints may prevent many of the global retail giants from reaching their full potential.There are too many restrictions right now in the sector and policy makers lack clarity.
Isha's stab at the bottom of the laptop pyramid shows she is a true Ambani.
Walmart-owned fintech firm PhonePe said it has crossed 500 million lifetime registered users on its platform. With this milestone, 1 in 3 Indians are now on PhonePe. The company said it is the first Indian internet company to have reached this scale globally. This milestone has been achieved in just over 7 years since the PhonePe UPI (Unified Payments Interface) payments launched in August 2016.
The latest infusion brings the total capital pumped into Amazon's e-commerce business in India to Rs 22,390 crore
These risks are viewed as more acute in the online world.
The Indian lenders are worried over the fast depleting asset base of the Future group companies which would make their recovery of dues difficult. The asset base of Future group has eroded in the last two years due to lockdown and takeover of 947 stores by rival Reliance Retail after Future group's lease on the properties expired. Bankers said they have approached bankruptcy court so as to avoid any duplication of legal action and reduce time at the legal forums.
The e-commerce story in India has begun to look up.
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