'If you allow Walmart to operate in India, our manufacturing will finish completely.' 'What will happen to Narendra D Modi's dream then? There will be no Make in India.'
The partnership will initially focus on the Future Group fashion brands.
Flipkart's value has eroded by a third from a peak of $15.2 billion to as low as $9 billion following several investor markdowns
'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.'
As for his interest in space, Amazon founded Blue Origin, a privately funded aerospace company.
Flipkart on Tuesday launched a next-day delivery service.
E-commerce sites like Amazon, Flipkart and Snapdeal have to ensure that the country of origin is displayed on imported products sold on their platforms, the Centre told the Delhi high court on Wednesday.
Competition in the booming multi-billion dollar Indian smartphone market is further set to intensify with e-commerce giants Amazon, Flipkart and Snapdeal all set to launch Google's much-awaited sub-$100 (around Rs 6,000) handsets on Monday.
If the deal goes through, Snapdeal founders will get $60 million (cumulative), of which half will be given to employees.
At the heart of the issue is the way e-commerce is defined in the current draft policy.
Like its competitors, Amazon India, too, offered an 'Online Shopping Dhamaka' from September 21 to October 21, during which sellers offered deals and discounts on a host of products across categories on www.amazon.in.
Terrific meeting with Narendra Modi. Always impressed, energised by optimism and invention in India. Excited to keep investing and growing," Bezos wrote on social networking platform Twitter.
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.
The chamber has sought clarity from government to remove uncertainty among businesses
Future, which recently tied up with Amazon in India to sell its fashion and food products exclusively on the American giant's marketplace platform, is looking at a gross merchandise value of about Rs 6,000 crore (Rs 60 billion) in the next three years from the venture.
Global investment management firm Bernstein has pegged the enterprise valuation of Reliance Industries (RIL)'s 85 per cent stake in Reliance Retail at $111 billion, while valuing the Mukesh Ambani-led company's 66.5 per cent stake in telecom and digital platform arm Reliance Jio at $88 billion. Reliance Industries had earlier planned to list both its subsidiaries to unlock value for its shareholders but hadn't fixed any timeline. The report said that Reliance Retail had raised $6 billion by diluting a 10.1 per cent stake, while Jio Platforms raised $20 billion from investors by selling 33 per cent in 2020.
The writing has been on the wall for some time and it showed up prominently during the festival-season sales last year, when Meesho toppled Amazon to become the second-largest player in order share. During the sales season, 60 per cent of the orders Meesho received were from tier-4 cities and beyond. According to a report by consulting firm Redseer, festival-season sales last year were driven primarily by tier-2 and tier-3 cities, with 64 per cent of the shoppers coming from those.
Their startup investments number 13 so far, compared to 17 deals in 2020.
Paytm has been preparing for the sale for the past three months.
Udaan - India's largest business-to-business (B2B) e-commerce company - has laid off about 180 employees, or 4-5 per cent of its workforce of 4,000, in a move to drive cost efficiency, revealed sources. They said the layoffs have happened across various department functions. The layoffs have happened at a time when the Bengaluru-based firm is trying to turn into a publicly listed entity in 18-24 months.
The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
'If price was the driver in 1st year, it was convenience in the 2nd.'
Tata Group's CLiQ is the latest to join the e-commerce club, to compete with the likes of Amazon, Flipkart and Snapdeal.
SoftBank-based e-commerce marketplace Snapdeal has deferred its Rs 1,250 crore IPO, joining the list of startups that have decided to shelve their initial public offering (IPO) plans this year. Snapdeal, which competes with Amazon and Flipkart, filed a request this week with the Securities and Exchange Board of India (Sebi) to withdraw its draft red herring prospectus (DRHP) amid a sell-off in tech stocks worldwide. "Considering the prevailing market conditions, the company has decided to withdraw the DRHP. The company may reconsider an IPO in the future, depending on its need for growth capital and market conditions," a Snapdeal spokesperson said.
Pepperfry rethinks its user experience, increases its range of low-priced goods. It also positions itself as a home and dcor solutions provider as it looks for buyer loyalty.
In 2015, e-commerce contributed significantly to the growth in television advertising revenues.
After a group of young hackers beat companies that claim to spend a bomb on cyber security, Karan Choudhury reports on just how easy it is to exploit digital wallets.
IT, e-commerce firms to raise the bar in recruitment, packages.
Don't hit the buy button as soon as you hear of the next BIG online sale this Diwali. Here are some very important lessons -- in the light of how some online shoppers felt cheated after Flipkart's 'Billion Day Sale' -- that could save you time, money and peace of mind, says Rajiv Raj!
Shivani Shinde reports. The youngest member of the Tata group, the much-awaited Tata Neu, has finally been launched for people across the country. The 'super app' offers a number of services ranging from financial services to tech, travel and even groceries. The app takes off with a customer base of 120 million, with 2,500 offline stores. According to the Tata group, the app will be a one-stop destination for all consumer needs. The super app also offers a bouquet of financial offers like Unified Payments Interface (UPI), bill payments, loans and insurance. Tata Neu will also provide other services like fashion, gadgets, groceries, travel and health.
Mobile phones, televisions, refrigerators, laptops and stationary items will be allowed to be sold through e-commerce platforms like Amazon, Flipkart and Snapdeal from April 20 during the lockdown, officials said on Thursday. The clarification from a senior home ministry official came a day after Union home secretary Ajay Bhalla issued revised guidelines for the extended lockdown period till May 3.
Internet retailer Amazon and its fast-growing local rivals are driving a boom in commercial property leasing in India.
For someone who is such an indefatigable litigant, what is stopping Mr Saxena from using the law to depose Mr Kejriwal? Maybe we will get the answer after May 25, notes Aditi Phadnis.
The CAIT has complained to the Commerce Ministry to take action against these companies.
'Merchandise plays a key role in creating buzz about a specific party.'
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.
Tax collection at source would lock in Rs 400 crore of seller money, say Flipkart, Amazon, Snapdeal.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Instead of making the sellers bleed, experts say, e-commerce giants Amazon and Flipkart have roped in banks to offer discounts to buyers.
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