Amazon signed up Motorola as an exclusive brand partner for its new devices, which in turn helped it grow
India's internet economy is estimated to reach $1 trillion by 2030, primarily due to e-commerce, which is expected to be worth $325 billion and rank third globally, according to industry experts. Last year marked a crucial turning point for India's e-commerce sector, with notable changes in consumer trends, technology, and regulations. InGovern Research Services, a leading corporate governance advisory firm, hosted a virtual roundtable to deliberate on the notable developments in India's e-commerce sector in 2023, with a particular focus on the essential role of customer trust in fueling its ongoing expansion.
This is the second instance of mainstream banks blocking services to new-age digital payments companies.
Flipkart's maternity programme gives new mothers six months of paid leave as well as flexible working hours for four months with full pay.
IIM-Ahmedabad has written to Flipkart co-founder Binny Bansal on the issue, saying the students felt cheated for no fault of theirs for choosing the company over other brands and will suffer as they have to re-pay their education loans.
After making the model work in metro cities, players in the quick commerce sector are rapidly expanding their footprint into smaller tier 2 cities and markets beyond that ahead of the festival season.
'There was a time when I went without salary for about six months,' says Amod Malviya, an alumnus of IIT Kharagpur and currently CTO, Flipkart.
The identity of the new investor could not be ascertained.
The latest infusion brings the total capital pumped into Amazon's e-commerce business in India to Rs 22,390 crore
In June this year, the Bengaluru-based online marketplace has jumped into the fiercely competitive smart device market in India by launching its calling tablet for Rs 9,999.
The incident that happened on December 9 came to light only on December 11 when 28-year-old Nanjundaswamy's body was found at a building housing the gym in Vijayanagar Police station limits.
Tech titan Google on Wednesday launched the Google Wallet app for Android users in India, allowing them to securely store essentials like boarding passes, loyalty cards, event tickets, and public transport passes. The digital wallet, which becomes operational in India from Wednesday, comes as a complementary service to existing payment app Google Pay, a top official said.
The Bangalore-based company had raised $200 million in July from existing investors.
Where Binny slipped up badly was in gauging the level of transparency and governance that is expected by a global strategic investor, says Indrajit Gupta.
Several firms are stepping up to help their workforce cope with soaring temperatures
The Enforcement Directorate has been asked to investigate alleged violation of FDI regulations by e-commerce company Flipkart Online Services and cash & carry chain Bharti Walmart.
Initially, private buyers will be able to make bulk purchases on Government e-marketplace, it will subsequently be broadened to small-ticket buying as well.
The two companies have been negotiating to remain separate entities after a merger.
CCI investigation into predatory pricing likely
The People's Choice Survey is an annual report by CashKaro.com, which identifies key trends in online shopping in India.
Flipkart's co-founders Sachin and Binni Bansal made their debut at 86th position with a net worth of $1.3 billion each.
After e-commerce, Flipkart has jumped into the fiercely competitive smart device market in India by launching its calling tablet for Rs 9,999.
If the deal goes through, Snapdeal founders will get $60 million (cumulative), of which half will be given to employees.
The range will include two Android JellyBean operating system-based handsets and two smartphones based on the latest Android KitKat OS.
Most e-commerce firms with 'Singapore holding structures' would opt out of the new Sebi platform
Flipkart on Tuesday launched a next-day delivery service.
'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.'
Financial details of the deal were not disclosed but a source in the company said the transaction was valued at close to $300 million.
The company did not disclose its new holding pattern.
Kunal Shah has funded over 266 startups including Razorpay, Snapdeal, Zetwork, BlueSmart, Unacademy, Bliss Club, and Spinny, amongst others.
Having 50 stores in India, it plans to double the number.
Commerce and Industry Minister Piyush Goyal on Wednesday questioned Amazon's announcement of $1 billion investment in India, saying the US retailer was not doing any great service to the Indian economy but filling up for the losses it had suffered in the country. He said that their huge losses in India "smells of predatory pricing", which is not good for the country as it impacts crores of small retailers.
'India has a lot of potential, not just in commercial aspects, but also in hiring of people and sourcing of products.'
After all, talk of Amazon buying into Flipkart has been doing the rounds for long, although the two Bansals have denied it many times before.
Shopclues, the latest unicorn, was at the bottom of the sector loss pie.
Both Indian firms have been in talks with investors for nearly a year to raise fresh funds of as much as $ 1 billion, but with little success so far.
Amazon, however, claimed that it is just a service provider and doesn't own goods at any point of sale due to which it is not liable to pay this tax.
Finally, some good news for the Indian startup ecosystem. After four consecutive half-year periods of declining funding since 2022, the first half (H1) of 2024 has shown an upward trend compared to the second half (H2) of 2023. According to the India Tech Semi-Annual Funding Report H1 2024 by Tracxn, Indian technology (tech) startups raised $4.1 billion in H1 2024, marking a 4 per cent increase from $3.96 billion in H2 2023.
The company has often come under scrutiny for being dismissive about 'profitability' and unmindful of the high cost of running an inventory-led business, aided by deep discounts and free shipping.
Airtel starts 4G trial in Mumbai; partners Flipkart, Samsung.
