The interim report highlights key competition issues in the e-commerce space like deep discounting, the imposition of unfair terms and conditions, the growing dependence of brick and mortar establishments on online platforms, and opaqueness in search rankings.
Flipkart's Big Billion Days festive sale started on Oct 13.
After a recent fall in profit, Masayoshi Son of SoftBank announced that the Japanese tech investor will look at dramatic cost-cutting. Before he does that, investments in India for calendar year 2022 (CY22) will fall radically, observed sources in the know. Last year, the company had invested around $3.2-3.5 billion in the Indian start-up ecosystem - almost 10 per cent of the total investment the sector received. For CY22, the investments may not even touch $1 billion.
But the kind of usage and the demographic driving that change will be entirely different from the first online users.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 46 per cent jump in net profit for the three months ended June on the back of bumper earnings from oil and telecom businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 17,955 crore during April-June period -- the first quarter of 2022-23 fiscal year -- from Rs 12,273 crore in the year-ago period, it said a stock exchange filing.
Auto stocks led the rally with Tata Motors, Hero MotoCorp and Maruti Suzuki leading the gains.
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.
Almost all banks that issue contactless cards provide users with a 100 per cent liability cover.
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.
After staging a strong recovery from COVID-induced slowdown in 2021, India's exports are likely to extend the growth story to the New Year also on increased demand in the global markets, boost in domestic manufacturing due to production-linked incentive schemes and implementation of some interim trade pacts. Expectations of positive growth in the country's exports are also backed up by the outlook of the World Trade Organisation (WTO) which predicts a 4.7 per cent expansion in the global merchandise trade volume in 2022. Exporters believe that the outbound shipments would cross $400 billion mark in this fiscal going by the current momentum and may reach $475 billion in 2022-23.
From road transport to health insurance, tax rules have changed from October 1.
India's huge digital prowess and potential will play a huge role in enabling digital lending, says Romita Majumdar.
By value, however, electronic goods still account for a large portion of gross merchandise
In a show of solidarity, the CEOs of some 40 top American companies have come together to create a global task force to mobilise resources to help India fight the battle against Covid-19.
ICT products make up a minuscule $ 407 million, out of the $ 35.54 billion of total inbound shipments from the US, as of now.
Surge in UPI transactions is because of an increased consumer interest in making bill payments and recharging mobile phones online, and purchase of non-essential goods on e-commerce platforms.
Just to promote govt's policy of Make in India, BSNL said, it cannot afford to procure sub-standard equipment from inexperienced companies, not having proven technology. BSNL complained that when competitors were procuring world-class 4G equipment from experienced vendors, why should BSNL be compelled to procure locally.
While most others have not been able to replicate the WeChat model successfully, experts expect Jio to be able to score on its 300 million plus new mobile phone users.
Nasper-backed fintech firm PayU has started talks to acquire domestic payment gateway major BillDesk, and the deal size could be in the range of $3-4 billion, sources in the know said. "BillDesk has been open to being acquired for some time now, but in the past the valuations that the company was seeking proved to be a hurdle," said a source. "Three years ago too, PayU had approached BillDesk for an acquisition, but things didn't go ahead due to high valuations. "BillDesk had asked for $2-billion value then," said the source.
The government will use the Supreme Court order calling the 2005 deal between ISRO's commercial arm Antrix and privately-owned Devas Multimedia a fraud, to counter seizure of its properties, Finance Minister Nirmala Sitharaman said on Tuesday as she launched a blistering attack on the Congress for handing over airwaves used by the defence to the private firm for pittance. "It is a fraud of Congress, by Congress (and) for Congress," the minister told reporters as she read out paragraphs from the Supreme Court's January 17 decision allowing winding up of Devas Multimedia because of the fraud.
Reacting to India's ban on the Chinese apps at a foreign ministry briefing, spokesman Zhao Lijian said, "The Indian government has the responsibility to uphold the legitimate and legal rights of the international investors including the Chinese ones."
During this period, all government and private offices, shopping complexes, malls, bars, sports complexes, pubs and beauty parlours will remain closed.
Market place model of e-commerce means providing of an IT platform by an e-commerce entity on a digital and electronic network to act as a facilitator between buyer and seller.
Snapdeal and Flipkart to battle it out over Express Delivery
The exponential number of downloads can be attributed to a call by Prime Minister Narendra Modi, asking people to have the app on their mobiles, combined with the government's push for downloading of the app through other channels, reports Neha Alawadhi.
After a month long gap, the primary market is heading for a busy time, with five firms including Paytm parent One97 Communications and policybazaar parent PB Fintech have lined up their IPOs in the first half of November to raise over Rs 27,000 crore collectively. The other three firms whose initial share-sales are set to open are Sapphire Foods India, which operates KFC and Pizza Hut outlets, decorative aesthetics supplier SJS Enterprises and microcrystalline cellulose manufacturer Sigachi Industries. The IPOs of FSN E-Commerce Ventures Ltd, which runs online marketplace for beauty and wellness products Nykaa, and Fino Payments Bank are currently open for public subscription.
'We are having an outsize impact not only on the lives of the customers and livelihood, but also the economy of India.'
The IT ministry has now written to all these companies, warning that continued availability and operation of these banned apps, directly or indirectly, is not only illegal but also an offence under the Information Technology Act and other applicable Acts, which would attract penal provisions.
While Reliance has the clout to negotiate prices with suppliers for its e-commerce, not to forget the cost advantage of integrated warehouse and supply chains, Amazon and Walmart are no pushovers, they too have deep pockets.
'We were taking the Starbucks experience from the store to the home.'
Chinese mobile brands are deeply entrenched in the Indian market. A move to bar them may send a bold diplomatic message. But its cost for the local industry is anybody's guess. In the event that Chinese brands face curbs, two handset makers - Samsung and Apple - squarely stand to gain.
Festive season is the mainstay of most brick and mortar retail chains.
Though the government has been pushing for exports of high-value manufactured goods across major markets in place of raw materials and input goods, India's top exports to China remain in the raw materials category.
The new jobs - created both directly and indirectly - will be across industries, including IT, skill development, content creation, retail, logistics, and manufacturing.
Alibaba is playing a big role in helping to train the senior management of the upcoming Paytm Payment Bank
The fixed line broadband will offer "ultra high-definition entertainment on large screen TVs, multi-party video conferencing from your living room, voice-activated virtual assistants, virtual reality gaming, digital shopping, immersive experiences," Ambani said.
ITC has extensively reset its strategy and will explore opportunities to craft disruptive business models to set up structural drivers helmed by digital and sustainability for its next horizon of growth and make the company future-ready, chairman Sanjiv Puri said on Wednesday. The company is pursuing an accelerated journey to build a dynamic utureTech' enterprise by investing in cutting-edge digital technologies to shape a new paradigm of competitiveness, create innovative business models and tap newer opportunities, he said while addressing shareholders at ITC's virtual annual general meeting. As part of the next horizon vision, the company is "proactively exploring inorganic opportunities" even as it has shrunk "business segments that were incongruent to our growth aspirations, such as the Lifestyle Retailing Business" while the existing growth platforms comprising megabrands will be scaled up and fortified.
The sector will start making operating profits by 2020.
FirstCry is omni-channel player with presence across desktop, mobile and offline routes offering baby and maternity products in India.
India on Monday joined a US-led initiative to set up an Indo-Pacific Economic Framework to bind partner countries to achieve common goals, with Prime Minister Narendra Modi asserting that New Delhi will work with the stakeholders to make it an "inclusive and flexible" structure to pave the way for development, peace and prosperity in the region.
