Probe has allegedly found calculation errors by Amazon. The company paid higher GST but instead of claiming refund took wrong input tax credit.
Ride-hailing major Ola on Wednesday said it will launch its electric two-wheeler range in New Zealand. This will help support the New Zealand government's goal of bringing on road 64,000 new electric vehicles by the end of 2021, while also helping the public sector become carbon neutral by 2025, Ola said in a statement. According to the industry sources, the company plans to launch the range in New Zealand over the next 6-9 months.
Uber Technologies said it is doing a fresh round of recruitment for its India tech centres and is planning to hire 500 more tech employees by December. The app-based mobility and delivery company has a 1,000-member tech team across its centres in Hyderabad and Bengaluru. The firm said the hiring plan is a testament to Uber's commitment to India, and its recognition of the engineering talent in the country. Uber hired 250 engineers to its India teams in 2021.
Electric mobility in India is touted to be the way to the future, but implementation of large-scale projects to bring infrastructure for charging is still lacking.
Under the new rules, Karnataka has mandated ride hailing start-ups to provide digital printers, install panic buttons and have taxi signage on their vehicles.
Ride-hailing firms claim penetration is still low and there is a huge upside to grow the market and make owning a car pass.
An overwhelming majority of Indians (84 per cent) feel it is safe to return to their workplaces, according to a Deloitte survey that suggests consumers in India are showing a positive spending intent and brighter outlook towards the future. The latest monthly analysis (wave 220) of Deloitte's Global State of the Consumer Tracker, signals a cautious consumption revival in the country, aided by the decreasing number of Covid-19 cases and an improved vaccination drive. The Global State of the Consumer Tracker is an online survey based on responses from 1,000 people each in 18 countries including India.
The Ola Money and Uber tie-ups demonstrate how insurance companies, including even government-run ones, are forging partnerships with every possible service company to offer products.
The three companies - Ola, Hyundai and Kia - will co-create solutions to operate and manage fleet vehicles.
Indian Oil Corporation (IOC) and two other public sector oil firms will install 22,000 electric vehicle (EV) charging stations over the next 3-5 years to support the nation's target to reduce its carbon intensity and reach net zero emissions by 2070. IOC, the country's largest state-controlled refiner by capacity, will set up EV charging facilities at 10,000 fuel outlets over the next three years, chairman Shrikant Madhav Vaidya said. Bharat Petroleum Corporation Ltd (BPCL) said it will set up 7,000 stations over the next five years while Hindustan Petroleum Corporation Ltd (HPCL) has plans for 5,000 stations.
Ola was supposed to expand to the Netherlands, Kenya, Dubai, Israel, and Brazil.
Paytm's Rs 18,300 crore IPO was oversubscribed 1.89 times on the last day of India's biggest share sale on Wednesday, making it one of the country's most valued companies. The initial public offering of Paytm's parent company One97 Communications Ltd received bids for 9.14 crore equity shares against the offer size of 4.83 crore shares, according to information available from stock exchanges. While the portion set aside for retail investors was oversubscribed early, institutional buyers including FIIs flooded the share sale with offers on Wednesday, seeking 2.79 times the number of shares reserved for them.
The recent protests by employees of Urban Company and the case of a a Zomato delivery executive who died in a road accident point to the severely straitened condition of gig workers during the ongoing Covid-19 pandemic. Budget 2021 had promised several measures to help the cause of gig economy workers, but most of them are yet to see the light of day. Even after a year, the country's gig workers continue to be without any social security cover or a minimum wage guarantee. "In Budget 2021, finance minister Nirmala Sitharaman had announced that the government is looking toward including migrant and gig workers for social security benefits," says Srinivas Kotni, managing partner, Lexport, a consulting firm. Parliament had passed the Code on Wages in 2019 and Code on Industrial Relations, Social Security and Occupational Safety, Health and Working Conditions in 2020.
Online grocery platform BigBasket is looking at hiring 10,000 people for its warehouses and last-mile delivery to clear pending orders quickly and meet the spike in orders on account of the nationwide lockdown. "We are looking to hire 10,000 people for our warehouses and last-mile delivery. This hiring will happen across all 26 cities that we are present in," bigbasket Vice President-Human Resources Tanuja Tewari told PTI.
Ola said it has obtained licences to operate in South Wales and Greater Manchester, and will launch operations in South Wales by September.
It was investing heavily in finding new ways to gauge driver behaviour apart from just relying on feedback provided by riders.
'Do not get into the calculations that you see on television...Oh if you are looking at $5 trillion economy, the country will have to grow at 12 per cent, today it is growing at 6-7 per cent'
'Ola in India makes money on every ride. Our focus over the past couple of years has been to keep growing the market and our share in the market and build up on sustainable business,' says co-founder and CEO Bhavish Aggarwal.
As a tech services company, Ola has never been in hardcore manufacturing. And unlike in ride hailing, which is a two-player market (Uber is the only other competitor), in two-wheelers it faces many entrenched players. But most of all, rivals say Ola's targets are out of sync with most, even ambitious, projections.
Ola commits to invest $100 mn in Vogo, to bring scooter-sharing to its app, reports Alnoor Peermohamed.
Both are focused on the overall transportation business, in which taxi services are only a part; the extended ambit includes autos, motorbikes, cycles, electric vehicles, water transport as well as food delivery services, says Surajeet Das Gupta.
A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
E-commerce companies are seeing an increase in demand for products such as fresh fruits and vegetables, milk, flour, rice, and lentils, and personal hygiene items like sanitisers and soaps and household cleaning products. Other products include instant noodles, baby food and Ayurvedic items. "There is even a huge spike in pet food," said a person.
The ride-hailing company will soon launch UberEATS, which has been testing food and grocery deliveries since 2014, in India. Alnoor Peermohamed reports.
Mass mobility in India is in a race when the light turns from yellow to green. Just that this moment has lasted three years. The renewed enthusiasm, however, indicates that the lights may finally be about to change, says Patanjali Pahwa.
Ending Paytm's monopoly as the only wallet payment option on Uber, the ride-hailing service has decided to allow payments through Jio Money. Alnoor Peermohamed reports.
Ola wants to be India's answer to Grab, which is into everything, starting from cab service and logistics to bike taxis and food and grocery delivery.
With Kona catering for the high-end market, the South Korean automobile conglomerate wants to introduce a product in the EV segment to address the mass segment.
According to a source SoftBank is in favour of Ola acquiring the Indian unit of Uber, but the finer details of the deal are being discussed
The IPO will be sometime in the first half of next year.
The capital infusion is expected to bolster its presence in the country by funding its key businesses to take on Indian rival Ola.
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Ola competes with Uber Technologies in India.
The company, which rents cars by the hour, day, week and month, has Mahindra E2O Plus and Tata E Tigor available on the platform for which it charges a subscription fee of Rs 15,000-20,000 per month.
Education technology, grocery, fashion, food delivery and UPI payments surpassed volumes or revenues of February, in the September-October period.
Indian industry snubbed Google Play's decision to cut by half its commission for developers when they make $1 million in annual revenue for in-app purchases, saying the US tech giant may continue its "abrasive & monopolistic abuse" as it owns the Android system. Google Play said Tuesday that beginning July 1 it would slash its 30 per cent billing fee to 15 per cent for developers globally when they make the first $1 million of their annual revenue.
Over 50,000 licenced drivers will now be assured that they can continue to provide mobility services in London. Drivers can initiate their registration on the Ola app.
Ola, which is now present in seven cities in the UK, said its easy-to-use app would transform commuting experiences in these areas providing the community with greater travel choice as well as quicker and easier access to cabs.
Ola and Uber said they have resumed services in areas within orange and green zones, and have introduced requirements like wearing masks to ensure safety of riders and driver partners.
Uber is suing Ola for $7.5 million to compensate for lost revenue and goodwill, alleging the Indian market leader created about 94,000 fake user accounts with the ride-hailing service and used them to make more than 405,000 false bookings
The key driver of this expansion will be not car-hailing but bike-taxi service. The company is willing to partner local players that have a similar offer and would like to come on their platform.
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