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.
Consumers are set to gain from discounts.
The company, which recently hit the run rate of $1 billion in gross merchandise value ahead of the target date, is the largest mobile phone retailer in the country, counting online and offline stores, estimates show.
Retailer bodies to demand govt action against I-Day sales offers, threaten legal action for breach of FDI rules.
From mass layoffs to acquisitions, here's how the Indian start-up industry kept us on our toes.
Urvi Malvania looks at what is in store for the IPL's 2019 edition.
While global competitors Amazon and Walmart are looking to explore B2B online in India, traditional Indian retailers like the Future group and Reliance Retail and e-commerce players such as Snapdeal and Flipkart have no immediate plans in this area.
Gits now has super food mixes like brown rice and flax seeds idli mix, oats idli mix and such other products. It has also launched an organic and vegan version of ready meals abroad. It also has an e-store, besides selling through Flipkart, Amazon and Big Basket.
Indian online retailers have been raising funds to expand and compete with bigger rival Amazon.com Inc as more Indians shop on the Internet.
India's total online shopper base at 30 per cent of its internet population is low when compared with 78 per cent in China and 70-plus per cent in the US.
The partnership will also see the two parties cooperate on technology initiatives, including development of affordable smartphones.
Snapdeal is conducting due diligence on ShopClues, a move that may lead to a potential acquisition of the latter, which may bring in a fresh infusion of funds for the new entity.
Vinai Kumar Saxena's current job as lieutenant governor of an Opposition-ruled state will raise the bar -- not just for him, but also for the Aam Aadmi Party government, which never says no to a fight with the representative of the central government in India's capital.
Since its launch in April, helpline 155260 has been able to prevent more than Rs 18.5 million of defrauded money from reaching the hands of fraudsters.
According to analyst firm RedSeer, the absence of cash on delivery has hit daily e-commerce sales by 30% over the past few days.
The government, in February, had released the draft national e-commerce policy proposing setting up a legal and technological framework for restrictions on cross-border data flow and also laid out conditions for businesses regarding collection or processing of sensitive data locally and storing it abroad.
The deal, which is expected to close in the next four to five weeks, will give exit to investors Alibaba, Abraaj Group and IFC. The parties are awaiting approval from the Competition Commission of India (CCI).
Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
ndian media reported last week that the country's air force had issued alerts to its personnel and their families against using Xiaomi phones on security concerns.
To create a community, the consumer can share the details of the offer with friends and family who want to buy the same goods.
Use a "virtual credit card" for every online transaction when you can't pay cash on delivery.
Instead of announcing new schemes, focus will be on those already announced and key sectors.
Along with Lord Ganesha and goddess Laxmi, electronic gadgets will also enter the pantheon of Hindu gods this Diwali.
Snapdeal said it will give its users the option to defer the delivery by a few days till new currency notes become easily available.
The company has been a part of the start-up ecosystem in a big way from early stages right up to when the companies start achieving full scale.
From Samsung to Apple iPhone XR, smartphone firms are showering discounts in April.
On a cloudy Monday this month, Mohammed Irshad flew from Kochi to Gurugram to attend an exclusive investor networking event. Among a handful of founders selected for the event, Irshad was to pitch his peer-to-peer learning start-up Notespaedia for funding in front of top venture capital investors such as AngelBay, Elevation Capital, and Inflection Point Ventures. He failed to woo them, but the feisty entrepreneur was determined to continue his hunt.
Each dept could handle a designated area.
The power of the small neighbourhood retailer can barely be ignored as organised players look to leverage their last-mile connectivity and reach, luring them by promising support in technology, inventory and tax management.
After six weeks into the second half, the faltering offline channel, which traditionally rakes in 60 per cent of sales for the market, has become the biggest hurdle towards the path of revival.
Ordering groceries, vegetables and daily essentials is just a WhatsApp away as billionaire Mukesh Ambani's e-commerce platform JioMart taps into the popular messaging app to scale up online business in its fight for dominance in the giant Indian retail market with Amazon and Walmart-owned Flipkart. Ambani's twin children, Akash and Isha gave a preview of the ordering at Meta's second edition of the Fuel for India event on Wednesday. A new 'tap and chat' option allows users to order groceries through WhatsApp.
Snapdeal said on Wednesday it bought online mobile recharge firm Freecharge for an undisclosed amount.
Seattle-based Amazon had considered debuting drone delivery services in Mumbai and Bangalore by Diwali this year
It is still "discounts" that e-commerce players have to rely on to bring in customers, though they might claim otherwise.
Snapdeal's rival Flipkart had last announced its GMV in March this year -- $1 billion. Many rounds of funding later, sources estimate Flipkart's GMV at about $3 billion, a figure Snapdeal is trying to catch up with.
While e-commerce operations for these firms are small at the moment, it is slated to grow in the next 3 to 4 years.
India's first home-grown mapping company MapMyIndia is looking to list in the public market by raising around Rs 1,200 crore at a Rs 6,000-crore valuation. Sources said the company is ready with its draft red herring prospectus documents and is likely to file as early as next week. While the money will be used for business expansion, it will also give MapMyIndia's early investors, including Qualcomm, PhonePe, and Japanese mapmaker Zenrin Co., a chance to exit. The Verma family, which founded the company, will continue to remain promoters.
'Almost 75 per cent of our total sales come from the top 50 cities in India.'
US retail major is in talks with Flipkart, Snapdeal, ShopClues and Grofers for partnership.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
