Banks have been quick to embrace the smartphone era. Their apps for financial transactions promise ease, convenience and freedom from rigmarole.
Uber Chief Executive Officer (CEO) Dara Khosrowshahi sees India as one of the toughest markets and a standard to succeed in any other part of the world. One of the biggest challenges for the ride-hailing firm, according to Khosrowshahi, is the expectation of Indian consumers for more services at lower spending. "India is one of the toughest markets out there.
BSNL will use the investment for mobile expansion and for services like 3G, broadband, wireless broadband, IPTV, WiMAX, mobile commerce (m-commerce), value-added landline, Enterprise Resource Planning and others.
The Chinese billionaire and founder of Alibaba is said to be planning a significant investment in business to business e-tailing as well as payment services and logistics companies.
The gains came on expectations that the company will post strong growth given its presence in application to peer services and the fast-growing communication platform as a service segment.
FINDIT will provide access to information on 175,000 business listings.
What will it take to get India's poor broadband penetration to be seen as a problem and not as a condition, thus enabling real, serious e-commerce to take off in India?
The company, which recently hit the run rate of $1 billion in gross merchandise value ahead of the target date, is the largest mobile phone retailer in the country, counting online and offline stores, estimates show.
'Wherever the government has provided incentives for the purchase of two-wheelers, three-wheelers, cars, buses, and trucks, it gets a push for most of these alternate fuels. '
There are umpteen cases where travel websites and airlines advertise tickets for unbelievably low prices, without mentioning taxes and other charges.
HDFC Bank's customers will now be able to enjoy a complete suite of banking and commerce services over their mobile phones with the bank partnering with ngpay, a mobile solution brand from JiGrahak Mobility Solution.
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India is estimated to have 302 million Internet users by December 2014, overtaking the US as the world's second largest online userbase.
Access to capital for sub-standard companies is on the decline
In a communication to the empowered committee on PLI recently, the Indian Cellular & Electronics Association (ICEA) has stated that except one player (Samsung), all the other eight players (which include vendors of Apple Inc) selected under the scheme were facing numerous challenges in fulfilling the qualification criteria.
HDFC bank and Reliance Communications have launched India's first virtual credit card. HDFC credit card users can use their Reliance mobile phones to make payments.
In spite of the mega IPO of Alibaba, Flipkart-Myntra is not thinking of a public offering at this point
Private labels remain big business for e-commerce marketplaces. They comprise almost 15 per cent of the total business of such firms.
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According to him, Facebook News Feed is the new mobile shopping aisle where Omni channel retailers can reach all of these people every day and merchandise products to strengthen their brands and increase sales -- both in stores and online.
Leading up to Valentine's Day on February 14, quick-commerce platforms like Blinkit and Swiggy Instamart have witnessed a phenomenal uptick in the sales of products related to the occasion, such as roses and chocolates. Meanwhile, e-commerce giants like Amazon and Flipkart have gone live with their respective Valentine's Day sale events, offering generous discounts on products. Sales of chocolates and roses on Zomato-owned Blinkit shattered previous records at the beginning of this year's Valentine's Day week, on February 7, which is celebrated as Rose Day.
In order to reduce government litigations, the Union Finance Minister Nirmala Sitharaman on Saturday said the GST Council has fixed a monetary limit for filing appeals by the tax department before the various appellate authorities. It has recommended a monetary limit of Rs 20 lakh for GST Appellate Tribunal, Rs 1 crore for the High Court and Rs 2 crore for the Supreme Court for filing of appeals by the department before these legal forums, she said after the 53rd GST Council meeting held in New Delhi.
In classifieds, over 41 per cent job searches were from mobile phones.
New India Assurance is the insurance provider.
About 80 per cent of the domestic e-commerce market is travel related, comprising booking of airline and rail tickets, hotel bookings, and online mobile recharge, with online retailing taking in just about 15 per cent.
E-commerce companies typically stick to the gross merchandise value run rate to calculate sales.
It is still "discounts" that e-commerce players have to rely on to bring in customers, though they might claim otherwise.
Having seen a rapid growth in demand for frontline workers in FY22 with the economy opening up, the growth seems to have muted in FY23 due to macroeconomic challenges. According to BetterPlace's Frontline Index Report, total demand for frontline jobs decreased by 17.5 per cent. In FY23, 6.6 million frontline jobs were created in India as compared to 8 million in FY22.
India's e-commerce market grew 27 per cent in 2014 to $3.8 billion.
Some companies are already seeking review of the new norms.
It all started with Flipkart and Amazon trying to outdo each other - after Flipkart announced $1-billion fund-raising in July.
Isha's stab at the bottom of the laptop pyramid shows she is a true Ambani.
Billionaire Mukesh Ambani on Thursday unveiled the next phase of growth at Reliance Industries Ltd, with retail and telecom worth over $100 billion each, doubling revenues and pre-tax profit in 3-4 years, new energy business becoming profitable by 2031, and core oil and chemical business continuing to be the robust growth engine. The sprawling conglomerate with interests in refining, oil and gas, petrochemicals, telecom, retail, and media is on track to more than double in size before the end of the decade, Ambani, chairman and managing director of Reliance, told company shareholders.
A drone from Skye Air Mobility on Tuesday covered an aerial distance of 104 km in West Bengal to deliver a medicine consignment of Flipkart Health, the longest commercial delivery using an unmanned vehicle in the state, a company statement said on Tuesday. The drone took off from Flipkart's Baruipur hub in South 24 Parganas and delivered medicines at the Healthbuddy Matangini in the state's Purba Medinipur district, it said. The distance between the two places is 185 km by road, and it takes about four-five hours to cover by the surface transport.
For 33-year-old Amit Lakhmani, the chief executive officer of Kolkata-based wireless and internet value-added service provider Max Mobility, embarking on a business outside of the then booming manufacturing and services sector was a natural choice.
Paymate, a leading mobile commerce company, is in talks with Indian Railways to implement a system for booking tickets through SMS
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.
In a big push to the production-linked incentive (PLI) scheme, the government has nearly doubled (increase of 81 per cent) the allocation in five key industry segments from Rs 8,405 crore in the Revised Estimate of FY24 to Rs 15,198 crore in the Interim Budget for FY25. The segments cover over eight PLI schemes, including mobile phones, IT hardware, pharma (PLIs for medical devices, intermediates and pharmaceuticals), food processing, telecom hardware and, auto and auto components. In FY24, DPIIT officials, however, said that the disbursements would be much higher at around Rs 11,000 crore than what has been budgeted for the year.
E-commerce player Meesho, backed by marquee investors like SoftBank Group and Meta Platforms, will look at an initial public offering (IPO) only in 2025, and till then, its focus will be on generating profits after tax and not just on being Ebitda (earnings before interest, tax, depreciation and amortisation)-positive, top sources in the company told Business Standard in New Delhi. In a clear shift of strategy, the company, which has reduced its cash burn by 85 per cent, is now looking to trim its annual revenue growth target to 40 per cent from the 100-plus per cent earlier. The sources, however, said even this level of growth was far higher than that of most e-commerce companies.
"Not a single step has been taken by this government to empower small businesses in India," says Praveen Khandelwal, national secretary general of the Confederation of All India Traders and former treasurer of the Bharatiya Janata Party's Delhi unit.
