Last year in January at Amazon's flagship event Smbhav, Infosys Co-founder N R Narayana Murthy had to shorten his keynote speech from 20 minutes to about five because the event was delayed by 1.5 hours. "I will try to finish it in five minutes, because I am not used to delays," said Murthy, while addressing hundreds of micro, small and medium enterprises (MSMEs) about building businesses that last. In the audience was Amazon founder Jeff Bezos. Murthy referred to Bezos' prediction that the 21st century will be the Indian century. "That confidence enhances our enthusiasm," said Murthy. The relationship between Murthy and Bezos dates to 2014, when Prione, a 49:51 joint venture (JV) between Amazon and Murthy's venture capital company Catamaran, was formed.
Revenue share from India has inched up to nearly 0.8 per cent of its global sales. The revenue growth rate is in stark contrast to the firm's performance in volume terms.
From its March 2020 low, Bitcoin has gained a massive 474 per cent and has surged 214 per cent year-to-date.
The cricketer launched an online cult streetwear brand.
Another point of contention is the invoice issued by the e-companies.
Since the beginning of 2020, i-bankers have collected nearly Rs 1,800 crore by way of IPO fees. Interestingly, the India fees this year form just 1 per cent of the global fee pool of $13.7 billion from IPOs.
Audi's strategy seems to point to pushing technology to directly connect with consumers using digital platforms and marketing to synchromesh into one seamless experience, says Pavan Lall.
The coronavirus pandemic has changed how businesses look at payments. Earlier, fintech companies said when they were talking to merchants, they were not interested in digitisation.
'Inquiries and bookings are at quite a healthy level.'
There are, however, a few aspects to factor in before considering G-Secs as an investment option, advises Bindisha Sarang.
Enter the fireworks city of Sivakasi in Tamil Nadu and you can smell a familiar mix of sulphur, potassium nitrate, aluminium and carbon - familiar because if you've ever burst crackers, say on Diwali or Onam, chances are they were made here. Almost every household used to contribute to India's festive joy by contributing almost 90 per cent of the fireworks made in the country. Before the pandemic, around 300,000 people worked in the industry directly and another 500,000 indirectly. Located 540 kilometres from Chennai, Sivakasi is famous for its fireworks and crackers, along with printing and matches, but is almost a ghost town these days.
December 2022 could be the last Christmas for Santha Bakery, a business drawing its lineage from the first Christmas cake baked in Kerala.
Ratnakar Bank to absorb RBS' employees involved in three businesses
Why are investors gung-ho about State Bank? asks Tamal Bandyopadhyay.
While the COVID-19 pandemic has completely halted production and new orders, exporters say that payments have also been delayed for the shipments sent before the lockdown. Exporters say some customers are not taking delivery of the shipments because they have shut shop. Ready-made garment players had been hoping for a revival in demand in China but with the virus spreading to Europe, the US and other major markets, there are no orders coming from the major retailers.
The 'buy-now, pay-later' (BNPL) juggernaut continued to roll on during the festive season with multiple players seeing disbursals grow by more than 100 per cent compared to Diwali last year. LazyPay, the BNPL platform of Prosus-owned payments major PayU, witnessed a credit demand increase of 300 per cent over the festive season last year, especially in segments like travel, food & beverages and entertainment. "We also saw an uptick of 70 per cent in user acquisition in the last two months.
From Samsung to Apple iPhone XR, smartphone firms are showering discounts in April.
With 3,000 tonnes of imported onion entering the market over the next fortnight, the price should start cooling off. Soon after, the new crop of onions will arrive, further reducing prices.
Distress sales, market closures and anchoring of fishing fleets have been reported from West Bengal, Andhra Pradesh, Tamil Nadu and Kerala.
E-commerce giant Amazon and Infosys co-founder N R Narayana Murthy's Catamaran Ventures have "mutually decided" to not continue their joint venture (JV) beyond the end of its current term. The JV, Prione Business Services, which has been running successfully for the past seven years, was coming up for renewal on May 19, 2022. The JV enabled over 300,000 sellers and entrepreneurs to go online. It also enabled 4 million merchants with digital payment capabilities, providing these small and medium-sized businesses (SMBs) and merchants access to millions of customers across the country.
Flipkart co-founders Sachin Bansal and Binny Bansal, who were ranked 86th last year dropped out of the list
Besides growing tech and digital enhancements, the firms are ramping up the hiring of more delivery partners and reinforcing existing Covid protocols.
Business houses expect rate cut in next RBI policy.
This will ensure its vehicles reach dealers much faster and delivered to buyers in a maximum of three days, reports Shally Seth Mohile.
Confidence had ebbed in the last few years due to default by some errant domestic retailers and exporters. Moreover, many jewellers are believed to have diverted the fund collected through monthly deposit schemes to pay 'mark-to-market' margins on various loans.
For the second straight year, the gems and jewellery industry is set for almost a washout of business on Akshaya Tritiya as only about 10 per cent of pre-Covid sales of 2019 are expected on Friday amid the raging pandemic sapping footfalls and purchasing power of people.
Internet, tech, infra, realty in India might gain
FDI is a major driver of economic growth and a source of non-debt finance for the economic development of the country. The government has put in place an investor-friendly policy on FDI, under which investment up to 100 per cent is permitted on the automatic route in most sectors/ activities. At $ 64.37 billion, FDI in 2018-19 is the highest ever investment received for any financial year.
With deals close to Rs 70 crore, GoT could turn out to be the most merchandised entertainment property of the year in India.
Creating a market for premium coffee is a challenge.
After eight months of consecutive outflows, equity mutual funds witnessed a net inflow of Rs 9,115 crore in March amid correction in the stock market. Barring multi-cap and value fund categories, all the equity schemes saw inflow last month, data from the Association of Mutual Funds in India (Amfi) showed on Thursday. However, investors pulled out Rs 52,528 crore from debt mutual funds last month, after investing Rs 1,735 crore in February, owing to advance tax payments and other year ending commitments. Overall, the mutual fund industry witnessed a net outflow of Rs 29,745 crore across all segments during the period under review, compared with a net inflow of Rs 4,090 crore in February.
To cater to the antiviral fabrics and antimicrobial segment, almost all the Indian big textiles brands, including Reliance, Arvind, Aditya Birla, Donear Group, Raymond, and Siyaram have entered the market. Companies started their journey with reusable masks and PPE kits, and today, they are offering a range of PPE clothing along with fashion and casualwear.
While commercial vehicle (CV) sales were the worst hit, down by 21 per cent to 67,793 units from 85,833 units, two-wheeler sales dropped by 16 per cent to 12,64,169 units from 15,00,545 units. Passenger car sales dropped nine per cent to 215,716 units from 236,586 units.
The draft favoured up to 49 per cent foreign equity in inventory model in the case of 100 per cent made in India products sold through Indian management-controlled platforms with resident Indian founders/promoters.
Renault will start with a slew of new products that will be launched over the second half of this year and next year, apart from giving facelifts to the Kwid and Duster.
Shopkeepers are losing buyers in droves to e-tailers for everything from fashion to smartphones, and are struggling to find solutions.
50 years ago, on April 1, 1968, Tata Consultancy Services -- now India's leading IT company -- was born. The foundation for TCS was laid by Faqir Chand Kohli whose life touched directly or indirectly many, many, Indians, says Shivanand Kanavi.
Branded and packaged edible oils are currently selling at around 50 per cent premiums over their loose varieties. Hence, products using edible oils would be costlier going forward.
Samridhi Bhardwaj analyses the dynamics of duty-free liquor allowance in India.
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