At the same time, Tier II and III cities are expected to have a faster adoption rate with greater sales margins derived directly from online channels.
This segment had an estimated market size of Rs 7,080 crore (Rs 70.80 billion) at the end of 2006-07 and is expected to grow at an average rate of 30 per cent in 2007-08. Among the various businesses, online travel segment leads the pack. It is expected to grow at the rate of 30 per cent and reach Rs 7,000 crore (Rs 70 billion) by the end of 2007-08.
After remaining in the positive zone for three months, India's exports contracted 1.2 per cent to $33.98 billion in July, while the trade deficit widened to $23.5 billion.
The government on Tuesday announced withdrawal of the 2 per cent equalisation levy or digital tax on overseas e-commerce supplies.
The government is set to examine concerns over quick commerce companies potentially undermining businesses of local kirana stores, particularly in the context of the draft Digital Competition Bill, according to official sources. The Ministry of Consumer Affairs recently raised the issue with the Ministry of Corporate Affairs during discussions around the proposed legislation. "We need to assess if and how the Bill can address these concerns and explore further steps to include provisions to keep a check," a senior official stated.
'If you are watching cricket and don't want to leave the screen, you could check the menu and order through Zomato (or any other app) from a small part of your screen. That is what we are working towards.'
Customers using e-commerce websites are young and techno-savvy.
Flipkart-backed fintech firm super.money is aiming to be among the top five players on the Unified Payments Interface (UPI) leaderboard by the end of this year, a senior company executive has said. The company, which rolled out its beta version in June this year, has processed about 10 million transactions till date. "We have a target of 100 million transactions for the end of the year.
Lulu Retail announced on Wednesday that its initial public offering (IPO) was oversubscribed 25 times across all tranches, excluding cornerstone investors, generating demand exceeding $37 billion-a record for a private sector IPO in the United Arab Emirates. The company is controlled by Kerala-based business tycoon MA Yusuff Ali. The final offer price for Lulu shares was set at AED 2.04 per share, raising a total of $1.72 billion (AED 6.32 billion), making it the largest IPO in the UAE in 2024 to date.
India already allows 100 per cent ownership of greenfield pharma businesses.
Manish Tiwary plans to take up a new role at another firm.
The government on Tuesday announced that it will undertake a comprehensive review of the Income Tax Act to make it easy to read. Presenting the Union Budget for 2024-25, Finance Minister Nirmala Sitharaman also said the government will come out with SoP (standard operating procedure) for TDS defaults and simplify and rationalise compounding of such offences.
A host of macroeconomic data announcements, the last batch of September quarter earnings, global trends, and trading activity of foreign investors will be the major driving factors for the equity market this week, according to analysts. Equity markets would remain closed on Friday for Guru Nanak Jayanti. "India is set to release CPI and IIP data on November 12, with WPI data expected on November 14.
Dabur's pre-quarterly update for Q3FY25 disappointed the market with the share dropping by 3.9 per cent. Growth was slower than expected and inflation hit margins. The management said that the fast-moving consumer goods (FMCG) consumption in rural markets was resilient and continued to grow faster than in urban markets.
The study, conducted by IT education company Globsyn Group, said the e-commerce market would go up to over Rs 2,300 crore (Rs 23 billion) in India by end of 2007-08. At present, it stands at Rs 1,180 crore (Rs 11.8 billion).
Hit by inflation, higher input costs and pricing measures, fast-moving consumer goods companies are expected to see a contraction in their gross margin and a modest-to-flat operating profit in the October-December quarter. Several FMCG makers are likely to log a low single-digit rise in their revenue, returning to the cycle of value-driven growth.
Around 72 per cent of employers in India intend to hire freshers in the second half of 2024, according to a report released by TeamLease EdTeach on Wednesday. The report titled 'Career Outlook Report HY2 (July-December 2024), based on a survey of over 603 companies across India conducted between April and June 2024, indicated a positive trend in the job market for new graduates.
To tap the rapidly expanding online retailing market, Philips Lighting, a subsidiary of the Dutch consumer electronics giant Royal Philips, has partnered 'exclusively' with Amazon to sell its latest product range.
With the insistence on data centres to be onshore, entities in real estate believe there is going to be a rise in demand for specialised Grade-A commercial spaces to set these up.
Tata Motors, India's largest commercial vehicle manufacturer, is looking to launch a first-of-its-kind sub-600 kg small commercial vehicle, aiming to cater to the growing demand for efficient last-mile delivery solutions, an area currently witnessing a surge in interest from e-commerce giants. This new entrant is set to be positioned just below the marquee Tata Ace, which is popular across the country as "Chota Haathi".
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.
As quick commerce gains ground, emerging direct-to-consumer (D2C) brands are betting big on digital channels to drive growth. According to Aman Gupta, co-founder of wearables brand BoAt, new-age brands in India have been expanding at a much faster pace than expected, driven by digital channels like quick-commerce. "Investors doubted the potential of D2C brands when we started, but today there are multiple brands in the startup market that are growing on the shoulders of these digital channels," Gupta said while addressing a session at Razorpay's D2C and Retail Summit recently.
The gig economy market is expected to grow at a compound annual growth rate (CAGR) of 17 per cent to reach a gross volume of $455 billion by the end of 2024, according to a white paper by The Forum for Progressive Gig Workers. Estimates suggest the gig economy has the potential to create 90 million jobs and add 1.25 per cent to India's GDP (gross domestic product) over time.
The Telecom Regulatory Authority of India (Trai) may extend the deadline to whitelist URLs (Uniform Resource Locators), APKs (Android Package Kit), or OTT (Over The Top) links - through which it intends to curb their misuse -is likely to be extended by 30 days as only over 3,000 registered senders (businesses) have complied, officials indicated. According to Trai officials, over 3,000 registered senders have whitelisted more than 70,000 links, but many more (thousands of others) are yet to comply with the directive as the mandatory norms are set to come into effect from October 1.
The government's subsidised onion sale initiative, launched on September 5, has led to price drops in major cities within days, the consumer affairs ministry said on Saturday. In Delhi, retail onion price fell from Rs 60 to Rs 55 per kg, while Mumbai saw a decrease from Rs 61 to Rs 56 per kg. In Chennai, the retail price reduced from Rs 65 to Rs 58 per kg, the ministry said in a statement.
Walmart group firm Flipkart continues to dominate the e-commerce segment with 48 per cent market share while Softbank-backed Meesho has emerged as the fastest growing e-commerce platform in terms of user base in India, a latest report by AllianceBernstein said. According to the report, Flipkart's user base grew 21 per cent year-on-year (YoY), Meesho accelerated at 32 per cent while Amazon lagged at 13 per cent user growth primarily due to relative premium offerings as compared to peers. "As of FY23, Flipkart was the market leader, with a 48 per cent share in India eCommerce.
In the past three weeks, early-stage venture capital firm Matrix Partners has invested in three start-ups.
The Budget proposal will help startups with better incubation, talent and capital
Will allowing business correspondents to hawk insurance products help in reviving 5-lakh strong field agents as a viable channel?
'Her story, her life, her aspirations and struggles...' 'Indian weddings are not just about fuschia, pink and dancing. They have many nuances.'
At a time when Flipkart has entered the quick-commerce race with a service called "Minutes", executives at rival players said they are in a wait-and-watch mode. They said they would be concerned only once the e-commerce firm is able to succeed in this space. The Walmart-owned firm's quick-commerce service has gone live in some parts of Bengaluru, putting it in competition with firms such as Zepto, Swiggy's Instamart, and Zomato's Blinkit.
After a strong run in the midcap and smallcap indices, which surged 46 per cent and 43 per cent, respectively, on the National Stock Exchange (NSE) during Samvat 2080, analysts suggest that the rally in these segments may pause to catch its breath in Samvat 2081.
Fast-moving consumer goods (FMCG) companies are expected to witness pressure on volumes in the October-December quarter. However, price hikes will help push up revenues, said brokerages.For India's largest engineering firm, Larsen and Toubro (L&T), the analysts expect a 20 per cent growth in consolidated revenue, and an 8.1 per cent core business Ebitda margin, up 40 bps from a year ago.
In a significant move to control spiralling onion prices ahead of the festive season, the government will transport 1,600 tonnes of buffer stock via railways from Maharashtra to Delhi - the first such initiative using rail transport for the kitchen staple. The special rake, dubbed 'Kanda Express', will depart from Maharashtra's Lasalgaon Railway Station and reach Delhi's Kishanganj Railway Station on October 20, Consumer Affairs Secretary Nidhi Khare announced on Thursday. The government expects this bulk movement to help stabilise prices in the Delhi-NCR region, where buffer stock onions are currently being sold at a subsidised rate of Rs 35 per kg.
... catch up with Blinkit, Swiggy Instamart and Zepto...
'Regulatory challenges exist everywhere. What we look for is regulatory stability over time.'
Amazon Pay UPI has crossed 100 million customers, with the online platform used mainly for e-commerce transactions, utility bill payments and mobile recharges, the company announced on Monday.
These 10 stocks represent the best mix of value and growth, offering relatively low price-to-earnings and price-to-book ratios, a high return on equity, and sufficiently high potential from current levels.
The FM proposed reduction in basic customs duty on gold and silver to 6 per cent and platinum to 6.4 per cent.
Leasing of retail space in shopping malls and prominent high streets dropped 1 per cent to 1.63 million square feet during July-September across top eight cities, according to Cushman & Wakefield. The leasing stood at 1.63 million square feet in the year-ago period. Real estate consultant Cushman & Wakefield on Thursday released its Q3-2024 'Retail MarketBeat' report, which highlighted a sustained momentum across India's main streets, leading retail growth across the top 8 cities.
