Reliance Industries (RIL) annual general meeting (AGM) had several stunning announcements. RIL looks to list Jio Platforms (JPL) by June 2026. It targets doubling of FY22 earnings before interest, taxes, depreciation and amortisation (Ebitda) (Rs 1.25 trillion; $14.6 billion) by FY27 implying 14.7 per cent compound annual growth rate (CAGR) over the FY22 levels.
Chinese fashion e-commerce platform Shein is expected to make a second entry into India and has tied up with Reliance Retail for this, according to a source in the know. The source said as part of the tie-up, Shein would source goods from India for its global operations. Also, the manufacturing of its products could happen in the country and they could be exported.
The stock of India's largest listed pure play retail major Trent was down 14.76 per cent at close on Monday after a fall in revenue growth for the March quarter of 2024-25 (Q4FY25). The sales growth trajectory has been in a declining trend over the last few quarters, which, coupled with falling operational metrics, higher competitive intensity, and expensive valuations, has seen the stock crack about 44 per cent since its 52-week highs in October last year.
Zomato is at 5, Swiggy at 9, Blinkit at 10.
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
We the people are left in the wind, waiting on the whims of an unengaged president and an oligarch with a nearly bottomless wallet, observes Sree Sreenivasan.
Whether it's Carrefour, Ford, or other foreign majors, they are ready to adjust their strategies and design their plans in a way that would address the Indian consumption story.
'I approached the ministries for a response, but they did not respond on time, so I had to approach the court.'
The government believes firms which are subject to China's laws could be forced to hand over information to Beijing's security services.
Zudio was the standout performer as it tapped into the pentup demand in small-town India, at a pace never seen before, notes Indrajit Gupta, co-founder and director, Founding Fuel.
Myanmar leader Aung San Suu Kyi is 'happy; that the United States is lifting sanctions on her country as she feels her countrymen should now take responsibility for its democratisation, a process she sees as a 'common goal' with President Thein Sein.
Rediff.com's Rajesh Karkera spotted these fashionistas.
'We welcome India's ban on certain mobile apps that serves as an appendage of the CCP's surveillance State'
This may help neuroscientists understand one of the deepest mysteries of our brain - how neuronal networks communicate and work together.
The government is looking to plug loopholes in the Indian customs law provision that allows tax exemptions for gifts up to Rs 5,000 and trade samples up to Rs 10,000 sent to India from abroad.
The ministry of home affairs has recommended a ban on 54 Chinese mobile applications that pose a threat to the country's security, officials sources said on Monday.
Natasha Desai and Farhana Bodi share their fashion mantras.
Eighteen months after the government started banning Chinese mobile apps, two distinct changes have occurred in the country's mobile app sweepstakes. The move has given a thrust to domestic app publishers, especially in certain segments and it has dramatically reduced the market share of Chinese apps. What started as an interim government ban on 59 Chinese apps, including the highly popular TikTok and WeChat in March 2020 ended as a permanent ban on many of them in January this year. According to a China Internet Report 2021 (by South China Morning Post), the market share of Chinese apps in India has dropped substantially from 44 per cent in 2018 to only 29 per cent in 2020. In 2017 it was 41 per cent.
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."
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.
After multiple attempts at selling itself, including to larger e-commerce player Snapdeal, ShopClues has found a buyer in Singapore-based e-commerce platform Qoo10 in an all-stock deal.
The Swadeshi Jagaran Manch has pointed out that these firms pose a threat to domestic manufacturing and retailing as they do not pay relevant taxes such as GST, giving them a huge edge over local players.
Some US prominent lawmakers have urged the American government to follow suit as it is believed that the short video-sharing app is a major security risk to the country.
Among other things, taking note of complaints against several Chinese e-commerce players such as Shein, Ali Express etc for sending shipments as 'gifts' to customers in India and avoiding duties, the government has now mandated that all e-commerce sites and apps must have a registered business entity. This will be the importer on record and subject to customs rules, report Subhayan Chakraborty, Neha Alawadhi and Karan Choudhury.
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