The Navi lending app, launched in May, provides instant loans of up to Rs 5 lakh, with repayment tenures of up to 36 months.
The company has set target to sell 15-20 lakh units of Honor smartphones by the end of this year
What is driving the digital-first approach of traditional, legacy brands? Apart from the growing adoption of the internet in the country, brands are drawn to the agility of the medium.
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.
Policy constraints may prevent many of the global retail giants from reaching their full potential.There are too many restrictions right now in the sector and policy makers lack clarity.
With a new $100-billion technology fund, SoftBank is likely to go after market leaders.
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
Billionaire Mukesh Ambani on Friday backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure. Stating that data is the 'new oil', he said every citizen's right to privacy has to be safeguarded. "India is putting in place the most forward-looking policies and regulations," he said at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).
In 2020-2021, the amount of foreign direct investment into India from China and Hong Kong plummeted to just $200 million -- its lowest in the recent past. In the first half of 2021-2022, FDI investments through these two nations stood at just $36 million.
Snapdeal had appointed merchant bankers for listing on an American stock exchange
Amazon's Indian unit said earlier it will open five new warehouses in the country, which will almost double its storage capacity to half a million square feet.
As many as 81 per cent people support having rules for consumer e-commerce, but want more services-based platforms to have more clearly defined roles, a survey by community social media platform LocalCircles has found. The survey asked respondents to answer questions based on the recent draft Rules proposed by the ministry of consumer affairs. The responses found 81 per cent consumers wanting sales of products and services over electronic or digital networks to be governed by a set of electronic commerce rules.
The high court had passed the restraining order after Ramdev claimed that the book had defamatory content.
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.
Apart from the growing adoption of the internet in the country, brands are drawn to the agility of the medium, its targeted and data driven approach and the increasing cost of offline channels for sales and distribution.
The move is significant since it signals the growing importance of foods in Marico's overall strategy. It also comes six months after Marico stepped into honey, a Rs 1,500-crore category dominated by players such as Dabur.
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.
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
The big boys of India's traditional retail have finally come together to fight the onslaught of their online counterparts.
However, many of these firms were facing an uphill task of convincing the people on the ground to return to work, as many are apprehensive of their safety.
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.
There is a lot of police action on the ground and even inter-state movement has been stopped, because of which deliveries of essential items via platforms, such as Flipkart, Amazon, Grofers, and Milkbasket, aren't happening. Food-delivery firms -- Swiggy and Zomato -- are facing similar challenges, according to the sources.
The online retailer offers largest assortment of products.
Keen to back start-ups while they are half-unicorns, SoftBank plans to invest $100 million in a firm with $500-million valuation.
The founding members of The E-Commerce Council of India include Snapdeal, ShopClues, UrbanClap, Shop101, Flyrobe and Fynd, among others.
Flipkart crashing when sale of Xiaomi's Mi3 opened proves the phone has generated much interest.
While there were concerns about the security aspect of drones, top government officials were of the view that restricting the drone industry would stifle a sunrise sector which holds significant promise for future, reports Arindam Majumder.
While JioMart is doing 250,000 orders per day, BigBasket and Amazon pantry are doing 220,000 and 150,000 orders, respectively.
To create a community, the consumer can share the details of the offer with friends and family who want to buy the same goods.
Flipkart's appointment of Kalyan Krishnamurthy as CEO and Ola's choice of PepsiCo's Vishal Kaul for COO speaks to the growing trend of bringing in experienced professionals to run business. Karan Choudhury reports.
Of the 1,145 offers made this year, consulting firms made up 34 per cent, followed by banking, financial services and insurance, pharma/healthcare, IT/ITeS and FMCG/retail.
A dip in 'dream job' applications could also mean that students are bagging their desired offers in the first go itself.
'We are having an outsize impact not only on the lives of the customers and livelihood, but also the economy of India.'
E-commerce companies typically stick to the gross merchandise value run rate to calculate sales.
As many as 40,000 units of the much-hyped handset launched exclusively on Flipkart, was sold out within 4.2 seconds, said company head Hugo Barra on Twitter.
'We were taking the Starbucks experience from the store to the home.'
"I would like to resign as an independent director of the bank with effect from January 27, 2020. Given an entity owned and controlled by me has made an application to the RBI for a universal banking license, I felt it was -- in the interest of propriety and corporate governance -- only appropriate that I stepped down from this role," Bansal said in his resignation letter, which was disclosed by Ujjivan SFB in the regulatory filing.
Terming Rajan as "India's prescient banker," Time said he is among a rare breed of "economic seers".
US private equity firm Silver Lake Partners will invest an additional Rs 1,875 crore in the retail arm of Reliance Industries, the Indian firm said in a statement on Wednesday.
Tax collection at source would lock in Rs 400 crore of seller money, say Flipkart, Amazon, Snapdeal.
