The proposed e-commerce rule book issued recently by the ministry of consumer affairs does not mention foreign companies or foreign direct investment (FDI) at any place, unlike most other government guidelines for the sector so far. That is a heartening development since the latest proposals could be fine-tuned as e-commerce policy.
Tesco, which has sought the government's permission to buy 50 per cent stake in Tatas-owned Trent Hypermarket Ltd, will have to invest atleast $55 million in creation of fresh back-end infrastructure.
Fresher hiring is expected to more than double compared to last year.
In October, Wal-Mart called off its six-year-old partnership with Bharti Enterprises and decided to operate wholesale stores independently in India.
India is currently home to 52 unicorn startups and one of the fastest-growing startup ecosystems.
Physical format stores are here to stay.
The government, in February, had released the draft national e-commerce policy proposing setting up a legal and technological framework for restrictions on cross-border data flow and also laid out conditions for businesses regarding collection or processing of sensitive data locally and storing it abroad.
Narayanan said while there would be some redundancies as a result of integration of the back-end functions of Myntra and Jabong, it will, however, be less than 10 per cent of the overall headcount
Zomato has the potential to be an equally important milestone for Indian equity markets, notes Akash Prakash.
Retail giant Walmart and Bharti have decided to part ways.
Is there more than meets the eye to Kitex Garments, the world's second-largest children's garment producer, abandoning Kerala for Telangana?
The company wants to compete against international majors in Sunil Mittal bastion.
Foreign companies no longer need Indian firms to help them run operations in the country.
While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
The deal brings the two start-up stalwarts - Bansal and Ola co-founder and chief executive officer Bhavish Aggarwal - together in the backdrop of growing foreign control in this space.
Among all the geographies where Amazon is fighting regulators, India is the only place where its lines are also tangled in a major corporate battle, this one with India's largest company by market capitalisation over the acquisition of Mumbai-based Future Group's retail chain, the country's second largest. No other corporate entity in any country offers a challenge to Amazon's hegemony in a way Reliance Industries does - and the final hearing of an arbitration case filed at the Singapore International Arbitration Centre between the two may decide at least some of these issues. This legal battle between one of the world's most powerful corporations and one of India's most powerful conglomerates could be complicated by a host of other developments.
Retailers can buy existing facilities if they spend $50 mn to create additional infra.
Becoming a unicorn is surely a marker for a company in its growth story, but it's not a major achievement nor is it a turning point of any significant worth.
The gunman was shot dead.
E-commerce firms and sellers including Amazon and eBay have made recommendations to the government for a differentiated policy framework for e-commerce in the revised Foreign Trade Policy (FTP) which is expected to come into effect from April 1, 2021. This is because the existing policies on exports have catered largely to traditional, offline and business-to-business exports. Suggestions have been made to the government that through the FTP, it is important to create a conducive policy framework for e-commerce exports that lowers the entry barrier for small businesses to start exporting, according to the industry sources.
Billionaire Mukesh Ambani's Reliance Industries has started a limited test use of WhatsApp to connect customers to grocery stores, days after Facebook decided to invest USD 5.7 billion in digital assets controlled by the company. JioMart, an e-commerce venture of Reliance Retail, "has already started interacting with customers on WhatsApp for grocery orders" in Navi Mumbai, Thane and Kalyan, Credit Suisse said in a report.
So what's up? Why are so many promoters heading for the door? It cannot be that all of them lost their appetite for a good fight at the same time.And if Naresh Goyal of Jet Airways and Subhash Chandra of Zee Entertainment do bow out, will it be seen as chickening out when the going got tough or the entrepreneurial instinct of surviving to fight another battle waned, wonders Shailesh Dobhal.
Wal-Mart's "suspected bribery" unearthed in India involves thousands of small payments to low-level local officials.
Retailers present in India are in talks with Carrefour to buy its assets piecemeal, rather than the whole business.
Corporate corruption in India is not just about bribing bureaucrats to bypass laws; it's about accounting frauds, kickbacks and cybercrime.
The government on Thursday clarified that the multi-brand retail store set up by a global retail entity will have to be 'company owned and company operated' and not operated by any franchisee.
Brand Finance, headquartered in London, first issued its global report into the relative equity of the 250 top global brands back in 2007.
With proceedings in Parliament being disrupted, Prime Minister Manmohan Singh and UPA Chairperson Sonia Gandhi on Tuesday discussed ways to resolve the logjam over Walmart lobbying and quota in promotions issues.
United States President Barack Obama has nominated new heads for the energy department and the Environmental Protection Agency, as he reshuffles his second term cabinet.
US-based Walmart and UK-based Tesco have sought clarifications from the Department of Industrial Policy and Promotion on whether they could set up warehouses in states which are against the Centre's retail FDI policy.
FDI policy for multi-brand retail has been a sore point for the retail chain.
Embargo on imports from a neighbouring country would send a chilling signal to foreign investors who look for transparency and companies with manufacturing units in India had requested the government to publish any change in port policy "to provide the business community with the visibility they need to function", says United States-India Strategic Partnership Forum.
Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
This year's list includes 40 influential people under 40 years of age in five categories -- finance, technology, healthcare, government and politics, and media and entertainment.
With RIL's market capitalisation crossing the Rs 11-trillion mark on Friday, Ambani is ahead of Google co-founders Larry Page and Sergey Brin, the 10th and 11th richest, respectively, and behind Zara founder Amancio Ortega on the Forbes Real-time Billionaires List.
Online biggies and global retail giants are working on being omnipresent in both the virtual and the real world to see what helps them get the numbers, says Karan Choudhury.
Anguished by frequent disruptions of Question Hour, Rajya Sabha Chairman Hamid Ansari on Tuesday said this segment of proceedings should be "dispensed with" or shifted to some other part of the day.
American CEOs expected to meet Modi on Sunday include Apple's Tim Cook, Walmart's Doug McMillon, Caterpillar's Jim Umpleby, Google's Sundar Pichai and Microsoft's Satya Nadella.
General sentiment that slowdown and dip in investor sentiment won't affect rationale for expansion
Amazon on Sunday won an interim award against its partner Future group selling retail business to Reliance Industries for Rs 24,713 crore after a Singapore-based single judge arbitration panel put the deal on hold. Amazon had dragged Future to arbitration after the Kishore Biyani group firm had agreed to sell businesses to billionaire Mukesh Ambani's Reliance.
