Ajit Balakrishnan offers a thinking man's guide to e-commerce controversies.
'Walmart will source globally and more from China and will dump these cheap goods in India, making our country a dumping yard.'
Walmart-owned Flipkart on Thursday said the company is in compliance with Indian laws, including FDI regulations, and will cooperate with the Enforcement Directorate on the notice sent to the e-commerce major. The Enforcement Directorate (ED) has issued a show cause notice of Rs 10,600 crore to Flipkart and its promoters for alleged violation of the foreign exchange law, official sources said on Thursday. When contacted, Flipkart said it is in compliance with Indian laws and regulations, including FDI regulations.
Immunity boosting foods and drinks. Sustainable fashion. Beauty products with natural ingredients. There was always a market for these, and the pandemic has only made it bigger. Within beauty, brands have recorded a greater demand for ayurveda products.
Morgan Stanley writing down its investment in the e-commerce leader by 27 per cent does not augur well for the sector.
Under its door-step delivery model, consumers can shop at any of the three Future Group-owned convenience formats - Easyday, Nilgiris and Heritage - both online or offline.
Indian workforce prefers to work for companies operating in sectors like IT, followed by BFSI and retail & FMCG.
Since 2016, Sebi has made many rules to prevent unauthorised trading by stockbrokers. Yet, one comes across dozens of cases of blatant overtrading in client accounts, every year, leading to massive losses to investors, observes Debashis Basu.
Categories such as lifestyle, food and electronics accounted for over 1,350 sellers across the country last year.
Reliance Industries Ltd, the country's largest company by revenues, profits and market value, has topped Indian corporate in the World's Best Employers rankings 2021 published by Forbes. Reliance was placed at 52 in the overall ranking of 750 global corporates likes Phillips, Sanofi, Pfizer and Intel. Other Indian names in the top 100 rankings were ICICI Bank at 65, HDFC Bank at 77 and HCL Technologies at 90, according to the Forbes ranking.
From a modest two-bedroom apartment in Koramangala, the Bengaluru-headquarted company now has multiple offices across the country.
The overall e-commerce opportunity in India and China is comparable, yet it's hard to see any single player in India emerging with Alibaba-like market share.
Some companies are already seeking review of the new norms.
Roles ranging from digital marketing to wealth management are some of the emerging roles, notes Sekhar Garisa, CEO, foundit, a job search app.
E-commerce companies typically stick to the gross merchandise value run rate to calculate sales.
The previous United Progressive Alliance government had permitted up to 51 per cent foreign direct investment in multi-brand retail but the current National Democratic Alliance government is opposed to it.
'The competition between the two is definitely going to be of great interest to the Indian market.'
RIL is setting up infrastructure for a full-fledged horizontal e-commerce offering - internally called the New Commerce - to simultaneously launch pan-India by October-November.
Flipkart has promoted several of its leaders into newer roles at a time when the Walmart-owned e-commerce giant has internally raised its IPO (initial public offering) valuation target to about $60 billion and aims for a US listing in 2023, according to the sources. "I am delighted to announce the promotion of some of our exemplary leaders," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group, in an internal note, and which has been reviewed by Business Standard. "Each of them has been instrumental in delivering impact and creating long-term value for Flipkart.
Google will be able to co-relate data from the first click to the final delivery of product. This kind of knowledge is invaluable, something which even Amazon does not have.
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.
Snapdeal said it will give its users the option to defer the delivery by a few days till new currency notes become easily available.
Jio Platforms is expected to use its 388 million mobile phone subscribers as the cornerstone of an e-commerce and digital services business to rival Amazon and Walmart's Flipkart.
Fresh capital will help Flipkart further grow its e-commerce marketplace in India as the world's second-largest internet market begins to recover from the COVID-19 crisis.
E-commerce platform Snapdeal has filed preliminary documents with markets regulator Sebi to raise funds through an initial public offer (IPO), joining the league of internet-led businesses looking to list on domestic stock exchanges. The public issue comprises fresh issuance of equity shares worth Rs 1,250 crore and an offer for sale (OFS) of 3.07 crore equity shares, according to the draft red herring prospectus (DRHP). According to market sources, potential listing could value Snapdeal at about $1.5-1.7 billion.
Another point of contention is the invoice issued by the e-companies.
From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs). For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil. Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.
The number of people, the average age and the smartness of the people, willingness to work hard and the fundamental culture of working, will work in our favour, said Kal Raman, CEO of Solutionstar, in an interview to Shobha Warrier/Rediff.com.
The Tata group has proposed to acquire more than 60 per cent stake in online grocery platform BigBasket, according to a filing, as the conglomerate seeks to expand in the fast-growing e-commerce space. The group plans to buy up to 64.3 per cent stake in Supermarket Grocery Supplies Pvt Ltd (SGS) through a combination of primary and secondary acquisitions, a filing with the Competition Commission of India (CCI) showed. The parties to the proposed deal are Tata Digital Ltd (TDL), SGS and Innovative Retail Concepts Pvt Ltd (IRC) -- which is engaged in B2C (Business to Consumer) sales through www.bigbasket.com and related mobile applications.
Right marketing and product strategy have helped Falguni Nayar build a beauty retail business.
'In investing, you have to first make sure you don't make big mistakes.' 'I would advise small investors to be systematic, don't be arbitrary; don't be on either end of the risk spectrum.' 'Don't go from fixed deposit to option trading or crypto trading.'
CEOs expect to finish the ongoing March quarter with positive growth as the corporates get back to work in full strength.
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.
The competition which BigBasket faces now is with the big three - Amazon, Walmart, and Reliance.
Today, India is one of the fastest-growing eCommerce markets in Asia/Pacific along with China.
In its new avatar as the Department for Promotion of Industry and Internal Trade (DPIIT), it will directly be responsible for 'the welfare of traders and their employees'.
Walmart is rumoured to be looking to listing Flipkart in a few years. At that stage, we'll get a better sense of what's going on in retail, says Devangshu Datta.
Amazon, Google, Apple and Facebook are both a boon and a bane for angel investors, VCs as well as start-ups. If the Big Tech companies get broken up and their powers to acquire get significantly curbed therefore, the whole ecosystem will need to change, says Prosenjit Datta.
Flipkart aims to double the total value of goods it sells to $8 billion in the next three years.
One of the key concerns for non-users of voice assistants is trust.
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