Amazon signed up Motorola as an exclusive brand partner for its new devices, which in turn helped it grow
Clearly, the domestic market has taken sharp knocks in April, which is likely to be visible in May as well, said analysts tracking the market, as FMCG companies are grappling with improving capacity utilisation and dealing with labour shortage.
Indian e-commerce company raises Rs 600 crore in sixth round of funding.
India's total online shopper base at 30 per cent of its internet population is low when compared with 78 per cent in China and 70-plus per cent in the US.
Chinese e-commerce giant planning to enter India this year, will take on global e-retailer
The e-commerce sector is also fraught with redundant taxation laws that need immediate overhaul
'Overall, compared to the previous episode, we are in a better shape because the vaccine is already out there and vaccination drives are proceeding'
The job market saw an uptrend in the March quarter (Q1), with job interviews increasing 13.71 per cent quarter-on-quarter (QoQ) to over 30 million, according to Apna.co, India's largest jobs and professional networking platform. It recorded a 42 per cent QoQ growth in its employer base. As a result of the second wave of Covid-19 last year, sectors such as healthcare, delivery, and e-commerce were booming while others had fairly low employment.
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 government guidelines say online marketplaces must not influence the sale price of goods and services but experts say e-commerce majors categorise discounts under marketing expenses.
Infibeam appointed Kothari as president, strategy, corporate development, international operations, and investor relations.
Mukesh Ambani's Reliance group has struck acquisition deals worth $4.2 billion with a dozen companies in just two years to expand its retail business. The latest purchase was of a majority stake in Justdial for Rs 3,497 crore. Elaborating on his acquisition strategy a few weeks ago during the AGM, Ambani stated that one of the key planks would be to acquire businesses that enhanced Reliance's offerings and experiences to customers and that they would be both physical and digital.
To promote localisation of manufacturing and reduce its import bill, the government increased basic customs duty on mobile handsets - from 10 per cent to 15 per cent.
FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa, has filed preliminary papers with markets regulator Sebi to raise Rs 3,500-4,000 crore through an initial share-sale.
Chocolate majors in India posted healthy top-line growth in FY19. While Mondelez India Foods - the marketer of Cadbury - continued to lead the pack, Nestle India, which dominates the confectionery space with leading brands like Kitkat and Munch, continues to hold the third spot in revenue. However, two of these companies - Mars International India and Hershey India - still remain in the red.
Its trajectory in telecom is well known but now it is pushing for a similar leap into the ranks of the top players in its other businesses: media and entertainment, e-commerce, a series of online businesses ranging from health to education, and retail.
As large-scale layoffs begin at Facebook's parent company Meta, employees on work visas such as H-1Bs are now faced with uncertainty over their immigration status, with CEO Mark Zuckerberg acknowledging "this is especially difficult if you're here on a visa" and offering support to those impacted. Meta announced that it is laying off 11,000 employees or 13 per cent of its workforce, with Zuckerberg describing it as "some of the most difficult changes we've made in Meta's history." US-based technology companies hire a large amount of H-1B workers, the majority of whom come from countries such as India.
To take on Amazon, Paytm e-commerce plans to add close to a billion products from all across the globe to its shopping cart.
A long and bitter funding winter in the start-up world is beginning to take its toll on start-up advertising across properties. Earlier this week, Mastercard replaced Paytm as the title sponsor for all international and domestic cricket matches organised by the Board of Control for Cricket in India (BCCI). But this is just one part of the story. The other side is that organisers of high-impact shows and events on Hindi general entertainment channels, too, are feeling the winter chill.
Having grown swiftly since the acquisition of Flipkart by Walmart in 2018, it was looking at a valuation of $10 billion. However, factors such as lack of diversification, new e-commerce and data policies, as well as the overall investment environment, have slowed the process.
It is unrealistic to expect that change will happen in one year: Birla
'I have saved your name on my phone, but I cannot read or pronounce it.' 'I am able to recognise my wife's name today because after seeing it for so long, it has been imprinted in my mind as a picture and not the letters.'
The gains came on expectations that the company will post strong growth given its presence in application to peer services and the fast-growing communication platform as a service segment.
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.
It is the season of cooking and baking, but with Amul Butter in short supply, consumers aren't like the cat that got the cream. A shortage only means market shelves without butter on them. "There is a supply-side deficit. "We are now able to procure only two packs of butter a day, as opposed to three packs (each containing 30 packets of butter) in a day," says a salesman at Modern Bazaar, a departmental store in New Delhi's Greater Kailash.
In December last year, Amazon invested over Rs 1,700 crore into its payments and wholesale business units in India, while in October it had infused over Rs 4,400 crore (more than USD 600 million) in its various units in India, including marketplace and food retail. Bezos last visited India in 2014 when he presented Amazon's Indian unit with a giant cheque for USD 2 billion. Since then, Amazon has pledged a further USD 3.5 billion to expand in the country and the USD 1 billion investment announced on Wednesday would take the total committed investment to USD 6.5 billion.
The report, however, did not include sales of Flipkart's subsidiaries Myntra and Jabong.
The purpose, behind slashing property tax on small commercial establishments by 70%, was to allow growth of small shops in residential areas, so that people do not have to travel long distances for their daily needs.
Greenwashing is making misleading or false environment-friendly claims about a product. Consumers in India currently do not have any way of telling whether a claim is authentic or greenwashing. And one never hears of action against any company for making false claims of being environment-friendly.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
The entire flight -- from take off to landing -- was fully autonomous, which means it was on auto-pilot, Omnipresent Robot Technologies Founder and CEO Aakash Sinha said.
The 24-hour delivery offer applies only to select postal codes and is not available across the country.
Flipkart intends to use the funds for building and strengthening its technology capabilities, bolstering the robust supply chain and developing the talent pool.
Housing Development Finance Corp (HDFC) chairman Deepak Parekh on Tuesday said that while the country's macroeconomic fundamentals remain strong and the recovery is in progress, the unpredictability of coronavirus will remain a key challenge. Owing to the second wave, the Indian economy is likely to mirror a similar trend seen in FY21, where the first half of the financial year is weaker and the second half is significantly stronger, he said. "I remain confident that India's macroeconomic fundamentals are strong. Recovery is underway," Parekh said while addressing the 44th annual general meeting of HDFC Ltd. He said, the country's forex reserves and foreign direct investment inflows have scaled record highs, the capital markets are also buoyant and agriculture growth is expected to remain strong with food grain production estimated at over 305 million tonnes.
This will be done across five cities - Delhi, Bengaluru, Coimbatore, Bhopal, and Shillong. Thereafter, it will be scaled up and launched in 100 cities over a period of six months, said a senior government official.
'We were taking the Starbucks experience from the store to the home.'
Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.
The Walmart chief stated that the values of the two companies were "very much aligned"
Vistara'a launch, the steel plant at Kalinganagar and e-commerce venture are the ones most awaited for
