Foxconn's business in India has grown to over $10 billion till 2024.
While the talks are still at a preliminary stage, sources said major retail players had held discussions with Amazon
The equity infusion will happen at Rs 505 a unit, which is a premium of nearly 14 per cent over February 4's close of Rs 444.60.
Last year in January at Amazon's flagship event Smbhav, Infosys Co-founder N R Narayana Murthy had to shorten his keynote speech from 20 minutes to about five because the event was delayed by 1.5 hours. "I will try to finish it in five minutes, because I am not used to delays," said Murthy, while addressing hundreds of micro, small and medium enterprises (MSMEs) about building businesses that last. In the audience was Amazon founder Jeff Bezos. Murthy referred to Bezos' prediction that the 21st century will be the Indian century. "That confidence enhances our enthusiasm," said Murthy. The relationship between Murthy and Bezos dates to 2014, when Prione, a 49:51 joint venture (JV) between Amazon and Murthy's venture capital company Catamaran, was formed.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
Those on H-1B visas have to find a new job within 60 days or head back to India.
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.
Quick commerce major Zepto has raised $340 million in a follow-on financing round at a valuation of $5 billion as it gears up for an initial public offering (IPO). This is Zepto's third big-ticket fundraise within a year. With this, the company has raised more than $1 billion in 12 months.
Did Jeff Bezos decide against endorsing Harris because it would hurt his business interests? Only God and Bezos know, and neither of them are talking, notes Prem Panicker.
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.
It's raining brand new seasons and shows on OTT this week.
Amazon Prime has reportedly bought the film's exclusive premiere rights at a whopping Rs 30 crore.
As the Indian version of The Archies gets ready to hit OTT, Deepa Gahlot picks 10 interesting college-and-youth-oriented shows on OTT.
Mukesh Ambani's Reliance group has struck acquisition deals worth $4.2 billion with a dozen companies in just two years to expand its retail business. The latest purchase was of a majority stake in Justdial for Rs 3,497 crore. Elaborating on his acquisition strategy a few weeks ago during the AGM, Ambani stated that one of the key planks would be to acquire businesses that enhanced Reliance's offerings and experiences to customers and that they would be both physical and digital.
Portal to be launched in three months, says Future Group's Kishore Biyani
Sony Picture Network India (SPNI) management is committed to long-term growth in India and the company will actively explore new organic and inorganic possibilities to strengthen its presence in the country, company managing director and CEO, NP Singh told employees. In a letter, two-days after the calling off of the $10 billion merger deal with Zee Entertainment, he asked employees to focus on current projects, with an immediate goal to unleash the company's full potential, continuing to craft content that not only engages audiences but also boosts subscriber growth and revenues. "As we close the chapter on our proposed merger with ZEEL (Zee Entertainment Enterprises Ltd), I want to take a moment to talk to you - not just as your CEO but as someone who has been on this journey with you.
Sukanya Verma covers the whole spectrum for you.
The global billionaires list witnessed as many as 94 new entrants from India, stated a report by Hurun India on Tuesday. Following a net addition of 84, the country's billionaire tally touched 271 with their combined wealth at $1 trillion, noted the report. Mukesh Ambani, chairman & managing director of Reliance Industries, is the only Indian to make it into the top 10 of the Hurun Global Rich List 2024, a ranking of billionaires in US dollar terms.
Kishore Biyani met Jeff Bezos, the founder and CEO of Amazon, in Delhi last week and "discussed many things like the macro environment and the prime minister"
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.
After supermarket giant Walmart, it is online retail major Amazon which has begun lobbying with the US lawmakers to seek their support for facilitating its "foreign direct investment in India".
'Post-Covid world will be different from the pre-Covid world.'
Reliance Industries (RIL) has been distilling its investment strategy to meet new goals. The share of the new energy vertical - its key focus area - accounts for more than a fourth (26 per cent) of the total war chest of $6.4 billion, ploughed into acquisitions and picking up stake from 2018 to date, reveals the latest Morgan Stanley data. Nearly half the incremental investments made on deals by RIL between August 2020 and September this year ($3.3 billion) has been spent on new energy - acquiring global companies with technology and expertise.
Reliance Industries was the top laggard in the Sensex pack, shedding over 2 per cent, followed by UltraTech Cement, SBI, Tata Steel, HDFC and Axis Bank. NSE Nifty fell 56.40 points to 16,238.20.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
Internet retailer Amazon and its fast-growing local rivals are driving a boom in commercial property leasing in India.
Did top Indian business groups miss the e-commerce opportunity by focusing on replicating the Walmart model instead of following the Amazon model of online shopping?
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
Amazon Prime Video has announced a huge number of assorted Web series and movies, and the slate sure looks interesting.
Future Group said customer acquisition costs, fulfilment costs and other expenses in e-commerce add up to 50 per cent of overall business costs, making it unviable
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.
Sukanya Verma lists out everything you can catch on OTT this week.
Jee Karda is a dish with a lot of garnish, but no flavour, observes Deepa Gahlot.
The big boys of India's traditional retail have finally come together to fight the onslaught of their online counterparts.
The migration of domestically developed intellectual property to foreign corporations within India reflects an anomaly in the demand pattern of the country's job market, points out Kanika Datta.
Online retail in the country is expected to grow to $200 billion by 2026, up from $15 billion in 2016.
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.
Billionaire Mukesh Ambani-led Reliance Retail on Thursday said it has acquired sole control of 25-year-old search and discovery firm Just Dial. The firm's subsidiary Reliance Retail Ventures Ltd had in July announced a deal to buy a controlling stake in Just Dial for Rs 3,497 crore. Further to that announcement, "RRVL has now taken sole control of Just Dial Ltd in accordance with the SEBI Takeover Regulations with effect from September 1, 2021."
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