Prime Minister Narendra Modi had announced the policy last month.
With the deal closing, SoftBank becomes an investor in two of India's largest on-demand cab service -- Uber and Ola.
Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo has raised $240 million (about Rs 1,787 crore) in its latest funding round that was led by Reliance Retail Ventures Ltd (RRVL) - the retail arm of Reliance Industries, the two firms said in a statement. Existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
The country came to a virtual stand-still when trade unions called a two-day general strike on February 20 pressing for implementation of their 10-point charter of demands.
The problem is major, and the problem affects hundreds of millions of people. Ignoring it must have a sound reason. Ignoring it must in some way be more important than addressing it, notes Aakar Patel.
It was investing heavily in finding new ways to gauge driver behaviour apart from just relying on feedback provided by riders.
As Indians start travelling in the new normal, strong recovery in smaller towns underscores success for ride-hailing giant's 'India to Bharat' strategy, which offers new products in regional markets.
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.
Rajesh Pillai recounts two pleasant experiences he had with auto drivers. You can share yours too.
Palo Alto-based electric carmaker Tesla has initiated talks with the government on the modalities of setting up fully-owned retail outlets. The company needs to comply with the foreign direct investment (FDI) guidelines related to single-brand retail, including local sourcing norms, to sell directly in India. At least two other foreign majors - Apple and Ikea - were engaged in talks with the government long before the sourcing norms were eased under the single-brand retail route.
The fresh funds would be used for expansion of Meru's network.
The delivery staff who drop off packages for online retail giants or food or ferry passengers around the city in their taxis are among the worst affected by the capital's foul air.
HR Guru Mayank Rautela offers practical advice.
Taizo Son, SoftBank founder Masayoshi Son's youngest brother, is also planning to enter India.
Most Indian start-ups and e-commerce are largely funded by foreign investors
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.
Uber says it is engaging with state govt to explain why its business model encourages savings for customers.
India turns talent backyard for Southeast Asian taxi apps to fight Uber.
India has a history of jugaad, and retrofitting vehicles is one such manifestation of the legendary Indian skill. Not so long ago autorickshaws and small Marutis used to strap on subsidised LPG cylinders and power themselves to a cheap ride. There were the odd explosions, lives were lost, but the jugaad continued. Then compressed natural gas (CNG) was introduced in Delhi following a court order. Initially, customised CNG kits were fitted to conventional (internal combustion engine or ICE) autos cheaply, enabling commuting at less than half of what you would cough up for diesel. The industry is better organised now with Suzuki and Hyundai designing CNG-fired vehicles, and Mahindra and TVS manufacturing liquefied petroleum gas (LPG)-powered three wheelers.
The car was expected to have a price tag of Rs 10 lakh and launch was slated for this June.
The recent protests by employees of Urban Company and the case of a a Zomato delivery executive who died in a road accident point to the severely straitened condition of gig workers during the ongoing Covid-19 pandemic. Budget 2021 had promised several measures to help the cause of gig economy workers, but most of them are yet to see the light of day. Even after a year, the country's gig workers continue to be without any social security cover or a minimum wage guarantee. "In Budget 2021, finance minister Nirmala Sitharaman had announced that the government is looking toward including migrant and gig workers for social security benefits," says Srinivas Kotni, managing partner, Lexport, a consulting firm. Parliament had passed the Code on Wages in 2019 and Code on Industrial Relations, Social Security and Occupational Safety, Health and Working Conditions in 2020.
Quelling fears of a takeover by Ola, which is also funded by Uber's major investor SoftBank Group, the US-based cab aggregating giant made it clear that the company was not ceding its position in India, one of its core markets.
Not just from the likes of Alibaba and Didi Chuxing, Indian startups saw a surge in Chinese funding from financial investors in 2019. This is a seven-fold jump from $459 million in 2016.
Half of the people earning between Rs 30 lakh and Rs 70 lakh will lose their jobs in next 10 years.
In about a year, top e-commerce companies are expected to raise as much funds as the three sector leaders raised in about five years.
The company has been a part of the start-up ecosystem in a big way from early stages right up to when the companies start achieving full scale.
Vijay Shekhar Sharma, head of Paytm, says they'd achieve their 500-million user target by 2018, two years before the earlier aim.
Meru Cabs is in talks with Chinese e-commerce giant Alibaba.
Meru Cabs and OlaCabs among radio cabs and bus ticket booking provider Redbus have been using big data analytics.
Even the well heeled in metros find it difficult to go completely digital. Cash withdrawals from ATMs are back at the same level as they were before demonetisation
'It is going to be extremely rapid and anybody who is not there, be it investor, manufacturer, supplier, will miss out.'
Housing.com CEO takes a dig at Vishal Sikka.
It's high time we now turn the popular question on its head -- when there is no growth in jobs for several years, how can the real GDP grow at 7 per cent per annum, says Mahesh Vyas.
Internet entrepreneurs are the next big thing in India.
Mass mobility in India is in a race when the light turns from yellow to green. Just that this moment has lasted three years. The renewed enthusiasm, however, indicates that the lights may finally be about to change, says Patanjali Pahwa.
India ranks third among global startup ecosystems.
Over the last 12 months, thanks to bold bets by venture capital firms like Sequoia, SoftBank Vision Fund, and foreign strategic investors like Naspers, pipeline of start-ups with potential to achieve $1 bn in valuation is at an all-time high.
TaxiForSure's Aprameya Radhakrishna's new venture, Vokal, is a peer-to-peer content generation platform that is a cross between Reddit and Quora.
The new feature is up and running in Nagpur, Guwahati and Jodhpur
'Don't waste your time in doing long pointless graduation courses.' 'Try and get into an apprenticeship or a job after Class 10 or Class 12, as there is always time to get back to academics and learn new skills.'
