Reliance Retail will acquire the retail, wholesale, logistics and warehousing businesses of the Future Group. Future Group's financial and insurance businesses are not part of the deal.
The Union Cabinet on November 24 approved 51 per cent FDI in multi-brand retail paving the way for global giants like WalMart to open mega stores in cities with population of over one million.
The Cabinet has agreed to the suggestion of the Department of Industrial Policy and Promotion or DIPP to allow companies like Walmart and Tesco to set up shop in the country.
Footfalls will invariably come down to a trickle even after lockdown restrictions go away, and the only way to prevent someone else from poaching your consumer is to go down to the consumer herself. Consumers will prefer products and services to be delivered to their doorstep, hygienically and safely.
Companies are ranked by total revenues.
The new jobs - created both directly and indirectly - will be across industries, including IT, skill development, content creation, retail, logistics, and manufacturing.
Reliance Retail and Bharti Enterprises are understood to be in talks to buy India assets of the world's second largest retailer Carrefour that has decided to exit the country by closing its five stores.
RIL had earlier decided not to pursue the cash-and-carry model due to a number of reasons, including a growing unrest towards organised retail.
The world's largest retail company, Wal-Mart was founded by Sam Walton in 1962.
India on Friday moved closer to a major economic reform, with a committee of secretaries (CoS) giving an approval in principle for allowing up to 51 per cent foreign direct investment in multi-brand retail.
After a gruelling 24 hours, the PhonePe team has fully restored UPI on the payment platform. The app is up and running again with ICICI Bank as its new partner with all payment instruments enabled.
Tech start-ups will continue to take the lead in bolstering the regional economy, says Murali Talasila.
With the Indian Government mulling over whether to allow foreign direct investment in multi-brand retail sector, here is a look at world's top 10 retail giants.
Across the country, companies have stepped up their act to contain the crisis. IT and other new economy firms seem to have taken a lead.
'The best way to make an impact in this market is by focusing on three things: Unmet customer need, unarticulated customer need, and emerging customer need,' Metro's Arvind Mediratta tells Sangeeta Tanwar and Alokananda Chakraborty.
As the shadow of governance deficit and corruption back home threatened to lengthen behind the glorious Davos sun, India's image managers launched a spirited damage control exercise on the penultimate day of the World Economic Forum (WEF).
After being cornered by Patanjali and macro-headwinds, ayurveda major Dabur is pulling up its socks. With better sales and improved margins, the firm is now looking to leverage the renewed popularity of ayurveda, mostly ignited by rival Patanjali. Sunil Duggal, bottom, left, chief executive officer, Dabur India, shares his plans and insights with Arnab Dutta.
Domestic chains rejoice at Cabinet's in-principle nod to 51% cap, most of them call it a positive development.
"We are delighted to welcome Google as a strategic investor in Jio Platforms. We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crores for a 7.7 per cent stake in Jio Platforms," Mukesh Ambani said at the company's annual general meeting.
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.
Almost eight months after Noel Tata stepped down as managing director of Trent, retail arm of the Tata Group, the company said it had appointed Philip Auld as chief executive officer.
In comparison, Flipkart India, the marketplace unit of the country's largest e-commerce marketplace, posted a 750% growth in losses to Rs 20.6 billion.
Bharti Retail launched its first mall, The Pavilion, in Ludhiana.
Cash-and-carry stores try tricks, from playing Bollywood music to customising orders, to retain customers.
The fear of being boycotted by large US stores like WalMart, JC Penny and GAP has led Indian apparel exporters to formulate a code to eliminate child labour from Rs 46,000 crore (Rs 460 billion) garment export business.
No consensus on what, when and how much to do.
In its new avatar as the Department for Promotion of Industry and Internal Trade (DPIIT), it will directly be responsible for 'the welfare of traders and their employees'.
The world's largest bicycle maker, Hero Cycles, on Monday said it plans to enter the US market by the end of this year, for which it is close to signing up with a local partner.
Launched in 2000 with six installations, the number of e-choupals grew to 6,500 in 2007, and at one point of time, ITC was opening six such choupals a day.
We are also trying to bring in modern processes and technologies in the area of supply chain, logistics and cold chain that should ultimately benefit the entire retail ecosystem through better quality, and more choice at better prices, says Bharti.
Since its launch in September, Ayushman Bharat has issued 20 million cards and has set an ambitious target to hit another 30 million within the next three months.
WakeupWalmart.com, an anti-Wal-Mart website which belongs to the United Food and Commercial Workers Union, came out with a report two days ago titled, 'Wal-Mart's vaunted $4 prescriptions supplied by disgraced Indian manufacturer.' UFCW claims to have a membership of over 1.3 million workers in the US and Canada. WakeupWalmart.com mainly campaigns for the rights of Wal-Mart employees and consumer interests.
India is Facebook's largest market with 250 million active monthly users. Along with Google, it has a 70 per cent share in the Rs 1,000 crore domestic digital ad market.
Chairing an exclusive roundtable with 42 global CEOs and top executives from across 20 sectors, Modi stressed on continued political stability in India, predictability of policy, and pro-development and pro-growth policies.
Protesters, including retail traders, wholesalers, hawkers and mathadi workers, mainly hailing from areas around Mumbai, started gathering for the protest, organised under the banner of Federation of Associations of Maharashtra, amid a heavy security cover.
From $10 billion deployed in Indian start-ups in 2017, $6 billion went to unicorns
However, in recent times, the clout that trader bodies such as CAIT and other organisations like Swadeshi Jagran Manch and Laghu Udyog Bharati has is steadily increasing. Earlier this year, trader bodies were able to convince the government not to extend the deadline for implementation of the new norms in FDI policy on e-commerce.
Researches reveal that many firms that employ H-1B workers directly, including some of the biggest names in the technology industry such as Amazon, Google, Microsoft, Apple, Qualcomm, Salesforce and Uber, pay a large share of their H-1B workers at one of the two lowest wage levels, Level 1 or Level 2.
According to industry studies, the Hindi Internet user base is likely to outgrow the English user base by 2021 and along with Marathi and Bengali users, will drive volume growth.
The company has a wide-ranging client base spanning across consumer durables to retail groups like ITC, UB Group and WalMart. It is also in the process of designing various white goods for its clients in the consumer durable industry.
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