Sunny Leone is the face of Jewelsouk, an online jewellery brand.
With this round of funding, Flipkart's valuation has reached USD 11.6 billion, and US IT major Microsoft joins the marketplace as a strategic investor.
The chamber has sought clarity from government to remove uncertainty among businesses
The big story is that IntraSoft is a remarkable proxy of the American e-commerce market.
More and more PE players are willing to test the waters now, just in case they become early entrants in a future booming business.
Infosys has been aggressively embracing automation tools.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Indian Sellers Collective (ISC), a trade association of micro and small enterprises and family businesses, on Wednesday urged IT veteran NR Narayana Murthy to cooperate in the Competition Commission of India's antitrust probe against Amazon for alleged anti-competitive practices. In 2014, Murthy's Catamaran and Amazon had formed a joint venture, Prione Business Services. On Monday, the partners announced that they have mutually decided not to continue the JV beyond May 2022. ISC thanked Murthy for deciding to end the joint venture with Amazon.
At a time when new car sales are witnessing record decline in India, pre-owned vehicles are likely to witness 10 per cent growth in sales to touch 4.4 million units in 2019 with millennials emerging as major buyers, according to a report by consumer-to-consumer marketplace OLX.
Hectic fundraising through IPOs will continue next week, with three firms -- One97 Communications, owner of Paytm; Sapphire Foods India, which operates KFC and Pizza Hut outlets; and Latent View Analytics -- are set to launch their initial share-sales to collectively mop up about Rs 21,000 crore. This comes after five companies successfully concluded their public offerings (IPOs) this week. Those five firms are - FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa; Fino Payments Bank; Policybazaar parent entity PB Fintech; decorative aesthetics supplier SJS Enterprises; and microcrystalline cellulose maker Sigachi Industries.
Even as the semiconductor shortage has limited the demand for new cars, the pre-owned car segment is seeing a surge. A preference for personal mobility, availability of multiple organised online platforms, including e-commerce channels, aggregators, and classifieds, have been fuelling growth. The growth rate of the pre-owned car market is expected to be 1.5x that of the new car market over the next five years.
Chennai's Koyambedu market for vegetables, fruits and flowers, one of the largest in the country that used to teem with thousands of people every day, has emerged as the latest hotspot for COVID-19 cases in Tamil Nadu. The development has prompted authorities to shift the market -- spread over 295 acres with over 3,000 outlets of which only about 200 of them are presently functional -- to suburban Tirumazhisai from Thursday.
Ankit Mehra, founder and CEO, GyanDhan, an education financing marketplace, tells you how to apply for an education loan in the pandemic.
Vaccine inequity remains an issue in India, where less than 2 per cent of the population has received a Covid booster
Bharatiya Janata Party's prime ministerial candidate, Narendra Modi, last month urged small traders to compete with foreign retail chains through e-commerce.
Last November, a lawyer for Future Retail Limited (FRL) told Delhi high court that Amazon is interfering with its lawful business and thousands may lose their jobs and FRL may go bankrupt. Senior advocate Harish Salve, who appeared for FRL, likened Amazon to East India Company. Senior advocate Gopal Subramanium, who represented Amazon, told the Future counsel to keep the "East India Company" rhetoric aside, as Amazon has invested $6.5 billion all over India and created 900,000 jobs. This drama played out in the case in which Amazon has challenged Future's $3.4-billion deal with Reliance, alleging the retailer's deal breached an agreement with the American e-commerce firm.
Droom has seen aircraft such as the Falcon, Hawk and Cessna being rented.
'You may be aware that any increase in 'R' factor above 1.0 is an indicator of spread of COVID-19. Therefore, it is important that the authorities concerned shall be made responsible for ensuring COVID Appropriate Behaviour'
Some regulators are already unleashing their own algorithms to track and understand pricing software of e-commerce companies. While companies collude on pricing, governments are collaborating on curbing online malpractices. The legal liability of an algorithmic decision will be interpreted as legal liability of an entity of an individual. Anti-trust activities of algorithms will not go unchallenged in any economy.
Every brand and company in India too will soon need a metaverse strategy, notes Sandeep Goyal.
Amazon has filed a legal challenge at the National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's (CCI) suspension of the US e-commerce giant's 2019 deal with Future Retail (FRL). Amazon has challenged the CCI order on at least five grounds, and the matter is likely to be listed this week, according to the sources. Parallelly, Amazon's Indian unit has approached the Supreme Court against a halt on an arbitration case against Future Retail's (FRL) asset sale to Reliance Industries (RIL).
The department for promotion of industry and internal trade has rejected Walmart-backed Flipkart's proposal seeking approval for entry to the food retail sector, citing a regulatory issue, an official said on Monday. The government permits 100 per cent foreign direct investment in food retail for food produced and manufactured in India.
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.
The acquisition of Walmart India adds a strong talent pool with deep expertise in the wholesale business that will strengthen Flipkart's position to address the needs of kiranas and MSMEs uniquely.
The Centre on Tuesday said it will not seek disclosure of flash sales from e-commerce players to regulate the fraudulent sale of goods and services but will take appropriate action as per the law on consumer complaints. Discount sales that benefit maximum to consumers will continue, but not fraudulent flash sales on the e-commerce platforms, the government said, adding that the e-tailers need not be "anxious" about the draft rules. Ban on fraudulent flash sales, mis-selling and appointment of chief compliance officer/grievance redressal officer -- are among key amendments proposed to the Consumer Protection (e-commerce) Rules, 2020, on which the government has sought public comments by July 6.
It is still "discounts" that e-commerce players have to rely on to bring in customers, though they might claim otherwise.
'As banks grapple with risk aversion and savers see an erosion in the value of money, the P2P platform can be a win-win for both borrowers and lenders,' notes Tamal Bandyopadhyay.
Service companies such as Infosys, Tata Consultancy Services and Airtel, among others, would be particularly hit.
It is watching e-commerce policy fineprint before spelling out India plan
Apart from making your purchases on these platforms expensive, it will also mean sellers will have to face the brunt of reduced cash flows amid already low margins for some. Experts said the proposal, which will take effect on April 1, 2020, and will be inserted as a new section in the Income Tax Act, is expected to affect the working capital of e-commerce companies and reduce cash flows for e-sellers.
Pinch your nerves, and trust the ghoul -- blood will be spilled; women, children, and grouchy old men will be dismembered! observes Sreehari Nair.
In a short span of time, with the help of Amazon, Cloudtail was able to devise a model that could protect it from the vagaries of online retail business.
Their startup investments number 13 so far, compared to 17 deals in 2020.
Amazon on Tuesday said it will begin manufacturing Amazon devices, including Fire TV sticks, in Chennai later this year in partnership with Foxconn's subsidiary, Cloud Network Technology.
'My father was asking me what an IPO is. He has no clue and he has never been an investor.' 'My mother, who was the one to ring the bell, has been an investor in Policybazaar for the past 6-7 years and I would say she has made good returns.'
According to a senior government official, the plan is to do "collective bargaining" for certain medical devices and implants by assuring a bulk requirement to the manufacturers. "The requirement for these devices runs into millions. We assure them that the requirement is going to be in bulk. In return, they should offer us better rates," he said.
E-commerce giant eBay on Friday unveiled a new logo, 17 years after it started its operations, to reflect the changing nature of online marketplace globally.
'The 10% increase in women voters was a determined bloc of voters.' 'They were willing to try this third party, specially because it seemed it had done something in Delhi.'
The Intel Capital-funded portal bets big on its 'Big Business' plan to drive growth and is in talks with investors to raise up to Rs 300 cr.
The government guidelines say online marketplaces must not influence the sale price of goods and services but experts say e-commerce majors categorise discounts under marketing expenses.
