Having almost closed the last contours of the limited trade deal and with the announcement of a much larger trade deal in the offing, we have moved to a new level of engagement: Goyal.
India conceding ground to bring only top 100 digital companies like Google, Facebook, and Netflix into the global taxation pact may have revenue implications. This will mean that New Delhi will have to withdraw the contentious 2 per cent equalisation levy on e-commerce operators by 2023. This may have revenue implications for India, experts pointed out, as the equalisation levy has a much lower annual revenue threshold of Rs 2 crore (euro 0.2 million) as against euro 20 billion agreed by 130 countries at the Organization for Economic Cooperation and Development (OECD). India, along with other developing countries, was pitching for at least euro 1 billion threshold to cover at least 5,000 global entities. India collected Rs 2,057 crore from the equalisation levy in 2020-21, an 85 per cent growth over Rs 1,136 crore in the previous fiscal.
Indian companies are expected to dole out an average increment of 9.1 per cent in 2022, higher than the pre-COVID-19 increment in 2019, as companies are focusing on retention of talent through rewards. According to the 2022 Workforce and Increments Trends Survey by Deloitte Touche Tohmatsu India LLP, the average India 2022 increment is expected to go up to 9.1 per cent from eight per cent in 2021. Moreover, the 2022 projected increment is higher than the pre-COVID-19 increment in 2019 by 50 basis points (bps).
Samsonite's factory in Nasik currently makes around 80,000 units a month and plans to go up to 100,000 units
Letsgomo Labs has a 76-member team.
Ma and the other co-founders had finalised the name "Alibaba" after much research on its acceptability.
FMCG firms such as ITC, Parle Products, Marico, Emami, PepsiCo India and CG Corp Global on Wednesday assured uninterrupted supply of their products based on the learnings from the last year's lockdown, even as surge in COVID-19 cases in India forced Maharashtra to declare a 15-day curfew while other states also imposing various restrictions.
Education topped the table with nearly $1.755 billion as against $379 million last year, followed by real estate which received $754 million.
The only fuel that showed growth was LPG as the government dole of free cooking gas cylinders to poor households fired up consumption by 21 per cent during April 1 to 15.
Most companies often subsidise the sale and the delivery, making losses on their books.
In conversation with Deepsekhar Choudhury and Neha Alawadhi, Sharma speaks about his journey and the road ahead.
Flipkart and Myntra, together, post higher sales than Amazon
'If price was the driver in 1st year, it was convenience in the 2nd.'
'If you allow Walmart to operate in India, our manufacturing will finish completely.' 'What will happen to Narendra D Modi's dream then? There will be no Make in India.'
The agreement means consumers will enjoy more choices and varied price points.
Jio Platforms is expected to use its 388 million mobile phone subscribers as the cornerstone of an e-commerce and digital services business to rival Amazon and Walmart's Flipkart.
Digital gold is gold purchased online from various platforms including Paytm or Google Pay and stored in your online account.
The company declined to comment on the banks or NBFCs that would be providing the loans.
The online ad segment is expected to grow at a compounded annual growth rate of 25 per cent between FY'2011 to FY'2013.
E-commerce has become a success in China as it overtook the US as the world largest online retail market.
Flipkart co-founders Sachin Bansal and Binny Bansal had worked at Amazon before launching their start-up in 2007.
Flipkart faces intense competition from larger global rival Amazon and local rival Snapdeal.
The move is a show of faith from three of the world's biggest technology companies in fast-growing Snapdeal
Tata, whose latest investment was in Ampere, a start-up that produces electric two-wheelers and three-wheelers from Coimbatore.
Categories such as washing machines, refrigerators and television sets have seen sales growth of around 8-10 per cent in August compared to last year, industry sources said, with September also reporting a similar growth trajectory.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore, the firm said in a statement. Net profit, however, fell 12.6 per cent sequentially -- breaking a six-quarter chain of quarter-on-quarter improvement.
The Tata Sons' chairman emeritus has been aggressively investing in start-ups, ranging from e-commerce firms to cab aggregators
Noting that the number of unicorns in India has reached the 100-mark this month, Prime Minister Narendra Modi on Sunday said that even in the phase of the Covid pandemic, Indian startups have been creating wealth and value with entrepreneurs emerging from smaller cities and towns as well. In his monthly 'Mann ki Baat' radio broadcast, the prime minister said that on the fifth of this month the number of unicorns in India reached the 100-mark. "The total valuation of these unicorns is more than USD 330 billion, that is, more than 25 lakh crore rupees. "Certainly, this is a matter of pride for every Indian," he said.
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.
Snapdeal, which has raised about $400 million since its inception, has invested about $100 million in logistics and operations to expand its presence in the $3 billion Indian eCommerce market.
Employee costs for Indian IT services players have touched an all-time high as salaries soar in their effort to retain talent. Engineer salaries are going through the roof. According to a news report, Infosys, which reported a 27.7 per cent attrition rate for the fourth quarter of FY22, plans to have an average salary hike of 12-13 per cent. High potential employees will get increases of 22-23 per cent.
'Young professionals should be open for jobs in adjacent industries, pick up a contract job to have an opening balance, develop skills in the job in hand, invest in learning and develop cognitive skills and capacities.' 'Spend as per the need only.'
The department for promotion of industry and internal trade has rejected Walmart-backed Flipkart's proposal seeking approval for entry to the food retail sector, citing a regulatory issue, an official said on Monday. The government permits 100 per cent foreign direct investment in food retail for food produced and manufactured in India.
Rapid strides in digital payments notwithstanding, the Indian economy will likely remain cash-dependent for many years to come, at least that's what the automated teller machine makers and cash logistics companies are betting on. After growing at over 20 per cent for most of 2020, currency in circulation growth fell to 8.5 per cent as of October 29 this year, shows data from the Reserve Bank of India (RBI). The reason for the steep rise in currency last year was the uncertainties related to the Coronavirus (Covid-19) pandemic, where people preferred to hoard cash to meet exigencies.
Ratan Tata has invested his own money into 3 high-growth online retail firms, which are yet to make a profit.
Cheil India has a strong presence in the retail and shopper marketing space.
Nasper-backed fintech firm PayU has started talks to acquire domestic payment gateway major BillDesk, and the deal size could be in the range of $3-4 billion, sources in the know said. "BillDesk has been open to being acquired for some time now, but in the past the valuations that the company was seeking proved to be a hurdle," said a source. "Three years ago too, PayU had approached BillDesk for an acquisition, but things didn't go ahead due to high valuations. "BillDesk had asked for $2-billion value then," said the source.
Brotin Banerjee, managing director and chief executive officer, talks to Business Standard on how the e-commerce space has broken down the barriers between a buyer and a seller.
With a surge in users and transactions in two weeks, payment wallets step up cashbacks to get more users online.
