Amazon's fulfilment centres, which store products of hundreds of vendors selling on the American online major's platform, are being cited by Karnataka state government authorities as a primary concern in an ongoing tax dispute.
In India, Amazon has taken an open cheque policy by sinking in over $2 bn to grow its business and tried to build local innovations to help it score over local players Flipkart and Snapdeal.
As part of this strategy, the e-commerce major has launched a programme to manage the entire business-to-business inventory supply and management for kirana stores in three cities in Karnataka.
Future Group founder and CEO Kishore Biyani on Tuesday said Amazon was fully aware of his group's talks with Reliance Industries for the sale of retail assets that followed the US giant offering no concrete help to tide over the cash crisis. Opening up after being locked in an intense legal battle with Amazon over the Rs 24,713 crore deal with Reliance, Biyani in an interview with PTI said the US giant's 2019 investment in Future Coupons Pvt Ltd (FCPL) -- Future Retail's parent -- was for coupon and gifting business only and the same could continue post-retail assets going to Reliance. He hoped to complete the deal with Reliance within two months of Sebi approval.
At present, other large players in the grocery and food retail space include Flipkart Supermart, Bigbasket, and Grofers.
Not displaying the mandatory information, including country of origin, on products sold on their platforms in India, draws government's attention.
Much of the discussion is happening at a "family level, not a corporate level". That means it is an Ambani or a Goenka in direct talks with Johar.
If Walmart is spinning success stories of Indian manufacturers in global markets, Amazon is taking 'Make in India' to the world, bolstered by its 'Global Selling Programme'
While the talks are still at a preliminary stage, sources said major retail players had held discussions with Amazon
Oil-to-telecom conglomerate Reliance Industries Ltd head Mukesh Ambani continues to be the richest Indian and has now broken into the world's top 10 wealthiest persons in the latest Forbes 2024 Billionaire List. Ambani, 66, is ranked 9th on the list with a wealth of $116 billion, up from $83.4 billion in the 2023 ranking, according to Forbes. Gautam Adani is the second richest Indian and is ranked at No.17 on the global list.
Bajaj Auto was the top laggard in the Sensex pack, tumbling around 6 per cent, followed by M&M, Reliance Industries (RIL), Tata Steel, Tech Mahindra, SBI, Axis Bank and ICICI Bank. NSE Nifty tumbled 162.60 points or 1.36 per cent to 11,767.75.
With expectations of customers changing and demand for seamless, uninterrupted shopping increasing, tech companies are now using this fear of becoming irrelevant as a sales pitch to sell their products to traditional retailers.
Bezos' total net worth hit $65.05 billion
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.
Gulabo Sitabo was made with a budget of Rs 40 crore to Rs 45 crore. Amazon Prime bought the streaming rights for Rs 60 crore to Rs 65 crore, helping the producers make over Rs 20 crore.
Micromanagers feel the need to be involved in every decision, hence they will avoid delegating tasks and spend a lot of time focusing on minor details rather than the bigger picture, says Sonica Aron, founder of the HR consultancy firm, Marching Sheep.
The list has been topped by Amazon founder and CEO Jeff Bezos with Apple CEO Tim Cook coming in at the second place.
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
Flipkart co-founders Sachin Bansal and Binny Bansal had worked at Amazon before launching their start-up in 2007.
Every entrepreneur should accept these truths before taking the plunge
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.
'Everyone knows the money the stars are asking for is absurd.'
As Indians scrambled to exchange the banned notes for new currency, Paytm, Sharma's digital payments startup, went on a promotional spree, inviting Indians to start using Paytm's digital wallet to pay for everyday goods and services.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
Experts say Biyani will now become a contract manufacturer of fashion and FMCG products, with the Reliance group being one of his customers.
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.
Quoting officials, The Washington Post said, the foiled assassination was part of an escalating campaign of aggression by RAW against the Indian diaspora in Asia, Europe and North America.
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.
Homegrown start-ups like UrbanClap and AtHomeDiva will now have to compete with the global e-commerce giant. Anita Babu reports.
Both sports and digital will drag down the healthy operating margins that entertainment television continues to make.
'Given that the market is now demanding disciplined growth, well-run companies should be able to demonstrate profitability with the cash on hand.'
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.
'We look at the opportunities that are going to come in various fields in the next 5 to 10 years, do some research and come up with business plans.' 'Then, we go and seek out founders who will run the actual business.'
Google on Tuesday began reinstating about 250 Indian apps it had delisted from its Play Store over a billing dispute as it caved in to government criticism, but the squabble may not yet be over.
In its first acquisition in India, the American online retail giant is planning to buy out the fashion portal
Piyush Goyal's comments about Amazon founder Jeff Bezos's investment in India reveals an inability to understand how businesses function, says Kanika Datta.
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.
Netflix and Amazon Prime are raising their stakes in the game, commissioning original shows and going all out to acquire regional films for their libraries.
The People's Choice Survey is an annual report by CashKaro.com, which identifies key trends in online shopping in India.
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.
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