The 53-year-old entrepreneur has felt the heat of e-commerce.
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
According to sources, the directorate has sent a letter to Flipkart on the basis of complaints received after the Big Billion Day sale on October 6.
The near term will be challenging, as most will struggle to adapt to the new regime.
Local traders are evaluating other options rather in FDI.
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.
While the talks are still at a preliminary stage, sources said major retail players had held discussions with Amazon
Sales have picked up in the past few days for retailers in the apparel and consumer durables segments.
The growth was led by family-owned companies and business groups with presence in pharmaceuticals, information technology services, and consumer products.
Retailers and mall developers have seen 35-50 per cent growth in the first two weeks of the end-season sale.
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Reliance, Birla Group, Airtel eye small finance banks.
Big retailers are openly talking of plans to harness the power of big data, even reporting those in annual reports as part of a long-term strategy.
For the past few years, Avigo has been in talks with many strategic players, including private equity investors, to sell its stake in Spykar.
Retailer bodies to demand govt action against I-Day sales offers, threaten legal action for breach of FDI rules.
'For all of us at Amazon, it is 'Bharat first'.' 'We are keeping the Indian customer at the centre of what we are doing.'
Its trajectory in telecom is well known but now it is pushing for a similar leap into the ranks of the top players in its other businesses: media and entertainment, e-commerce, a series of online businesses ranging from health to education, and retail.
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Consultants say those selling imported consumer durables, apparel, food products, furniture, etc, are the ones hit the hardest.
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?
After ending its wholesale partnership with Walmart, Bharti Retail has decided to merge with the Future group
The company's search for a partner in India seems to be grounded once again
Patanjali doesn't employ any fancy managers with MBA degrees.
12,000: Number of people Flipkart plans to hire in FY15.
It took Flipkart a little over 24 hours to complete due diligence and come up with a final offer that was $20 million higher than what Snapdeal was ready to forfeit.
Riding on this change in aspirations, V-Mart a value retail chain is growing close to 22 per cent year-on-year, and is aggressively looking to expand its footprint, with 60 new stores this year.
Turbocharged with technology is becoming the Holy Grail of retail.
Perhaps, the group's leadership position and potential in the retail segment prompted Tata Sons Chairman Cyrus Mistry to identify retail as one of the group's four growth clusters in his recent Vision 2025 statement.
From crisis leaders to future Goliaths, India Inc saw them all in 2017, says Shailesh Dobhal.
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.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
In the last couple of months, the Prime Minister has visited Japan and the US and launched the Make in India campaign to lure foreign investments into manufacturing sector.
Online biggies and global retail giants are working on being omnipresent in both the virtual and the real world to see what helps them get the numbers, says Karan Choudhury.
Be it consumer products, lifestyle or entertainment, spiritual gurus are stepping into business and are finding success
Recent easing of restrictions does not address the pain in the sector.
Malls, retail stores are being hit by online sales and are struggling this festive season.
CCI investigation into predatory pricing likely
Prime Minister Narendra Modi on Wednesday said he has asked soft drink makers like Pepsi to try and mix aerated drinks with 5 per cent fruit juice to help distressed farmers find a new market for their produce.
Footfalls will invariably come down to a trickle even after lockdown restrictions go away, and the only way to prevent someone else from poaching your consumer is to go down to the consumer herself. Consumers will prefer products and services to be delivered to their doorstep, hygienically and safely.
When Biocon chairperson Kiran Majumdar-Shaw - well known for raising issues ranging from lack of civic services in Bengaluru to climate change - decided to take on the Indian stock market regulator, the Securities and Exchange Board of India (Sebi), she forced the Indian corporate world and legal community to take notice. In an interview to Business Standard, Majumdar-Shaw called a Sebi order to impose a fine on insider trading charges against a Biocon employee and an external consultant an "Agatha Christie" fiction, which destroyed the reputation of "innocent people". "The order is pure harassment and has caused huge reputational damage to us and goes against the principles of good governance promised by this government," Mazumdar-Shaw said. "We will certainly appeal this," she added.
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.
Recent data from market analytics firm Nielsen shows that the rural market in the country's 630,000-odd villages is pulling down the overall FMCG business.
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