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The Economic Times

India ranks 3rd in global cross-border capital destinations

In the first half of 2024, India ranked third globally for cross-border capital in land and development sites. Foreign investment in India's industrial and warehousing sector surged, driven by demand from 3PL and e-commerce players. Notable deals included investments by Daibiru Corporation, ADIA, KKR, and Maple Tree.

Business Standard

India's home & household market to reach $237 bn by 2030: Deloitte

India's home and household market is expected to reach USD 237 billion by 2030 at a compounded annual growth rate (CAGR) of over 10 per cent, fuelled by increasing disposable income, shifting consumer preferences and a growing focus on comfort and convenience across product categories, according to a report by Deloitte. The report, Powering Consumption Growth-India's Home and House Market, launched at the two-day event MAPIC India 2024, which began here on Wednesday, also said that the home and household market are witnessing strong demand, particularly in tier 2 and tier 3 cities that are emerging as growth hubs. It also said that omnichannel retail and e-commerce are helping businesses connect with consumers, expanding their reach beyond urban centres. Stating that factors such as high disposable incomes, the rise of digital platforms, easy access to credit, and young consumers seeking modern designs, home renovations and personalisation, which provide tailored offerings to ...

Mint

Who is Samir Kumar? 25-year Amazon veteran to lead e-commerce company's India operations

Amazon India has appointed Samir Kumar as its new head, effective October 1, 2024. A 25-year company veteran, Kumar takes over from Manish Tiwary, who is stepping down after leading the Indian business for over eight years.

Mint

E-commerce orders may be harder to return this festive season as sellers aim to maintain margins

Fashion and accessories experience a high frequency of returns, while returns in electronics and personal care items are relatively low.

Business Standard

Modi 3.0 100 days: Commerce ministry takes steps to support MSME exporters

The commerce ministry has taken a host of steps during the 100 days of the Modi 3.0 government for MSME exporters who are facing global challenges due to geo-political tensions. The measures included launching of 'Trade Connect e-Platform' to empower SMEs by giving them access to information and guidance on trade, the commerce ministry said on Tuesday. This platform will connect these enterprises to over six lakh IEC (import-export code) holders, 185 Indian Mission officials and over 600 Export Promotion Council members with the Department of Commerce. Briefing the media, Commerce Secretary Sunil Barthwal said that in the first 100 days, the ministry held meetings with exporters to understand their problems and find ways to resolve those issues. "This e-connect portal will provide all sorts of information to an exporter," he said adding for MSME and other exporters, this portal will become a single point by which they can explore new geographies for shipments. The secretary said t

Business Standard

Meesho's annual festival sale from Sep 27, sees 42% rise in seller base

Softbank-backed e-commerce firm Meesho will start its annual festival sale, Meesho Mega Blockbuster Sale, from September 27 onwards with the highest number of sellers onboard among its competitors, the company said on Tuesday. The company has recorded about 42 per cent surge in sellers on a year-on-year basis to 20 lakh for the upcoming festival season. "Meesho's Annual 'Meesho Mega Blockbuster Sale' Starts on 27th September. With over 20 lakh sellers and 12 crore product listings across 30 categories, Meesho aims to make festive shopping more accessible, affordable, and convenient for shoppers across the country," the company said in a statement. Meesho claimed to have 14 lakh sellers onboard for Meesho Mega Blockbuster 2023. Amazon India has seen a 14 per cent growth in seller base but remains lower than that of Meesho for their upcoming annual festival sale "The Great Indian Festival". "Our current seller base exceeds 16 lakh sellers from all across the country," Amazon India,

Business Standard

E-commerce firms Flipkart, Amazon to host flagship sale events from Sept 27

Flipkart has launched 11 new fulfilment centres (FCs) across nine cities in the run-up to TBBD, bringing the total number of FCs in India to 83

Business Standard

BJP MP Khandelwal asks Goyal to suspend festival sales of e-commerce giants

BJP MP Khandelwal urges Goyal to suspend festival sales of ecommerce players

Business Line

BJP MP demands action against Flipkart, Amazon for anti-trust violations after CCI’s investigation

BJP MP Praveen Khandelwal’s demand against e-commerce giants Flipkart and Amazon follows a detailed investigation by CCI reportedly exposing anti-competitive practices

Business Standard

Reliance expands trading area by 50% for non-food & general merchandise

Reliance Retail, the country's largest retailer, has increased the trading area for non-food and general merchandise by almost 50 per cent in its grocery stores in a bid to improve margins. The move is also likely to bolster the retailer's hyper-local aspirations through its e-commerce platform Jiomart, through which it is connecting its Smart and Smart Bazaar stores providing a wider variety to consumers, according to an industry insider. As part of that Reliance Retail is now going for space revision at its stores, allocating higher trading areas for non-food and general merchandise items, a segment which offers higher margins than other segments such as grocery and apparel. The extended retail space would not only allow Reliance Retail to offer a complete range of products for a segment but also fill in the gaps in its offerings, the source said. In the latest June quarter, Reliance Retail's EBITDA margin from operations was 8.2 per cent, which was up 30 basis points on a Y-o-Y

The Economic Times

Reliance expands trading area by 50% for non-food & general merchandise chasing higher margins

Reliance Retail, India's largest retailer, is expanding its non-food and general merchandise trading area by 50% in grocery stores to boost margins. This move supports its hyper-local e-commerce platform Jiomart. The company aims to double its business in the next 3-4 years and is focusing on premium segments as disposable incomes rise.

Business Standard

E-commerce firm Flipkart equips sellers with tools ahead of flagship event

"We are equipping them with valuable insights and strategies to thrive in the 11th edition of The Big Billion Days," said Sakait Chaudhary, business head - Marketplace, Flipkart

Business Standard

Govt extends incentives to exports via courier medium to boost e-commerce

The government has extended incentives for exports through the courier medium, a move aimed at promoting shipments through e-commerce. This was informed in the meeting of Board of Trade (BoT) in Mumbai. "In the realm of e-commerce exports, the Board of Trade was informed by officials from the Central Board of Indirect Taxes and Customs (CBIC) that effective immediately, RoDTEP, RoSCTL, and drawback benefits will be extended to all exports made via courier," the commerce ministry said in a statement. It added that plans to extend these benefits to postal route exports are also in the pipeline, creating a more equitable environment for e-commerce exporters utilising the courier and postal mode. RoDTEP (Remission of Duties and Taxes on Exported Products) provides refunds of central, state, and local taxes and levies on exported products that are not covered by other schemes. The scheme covers a range of sectors, including marine, leather, gems and jewellery, agriculture, electrical,

Business Standard

Amazon India creates over 100K seasonal jobs ahead of festive season

Ahead of the festival season this year, e-commerce, quick commerce, and third-party logistics players are ramping up their supply chain networks to meet the demand for quicker deliveries

The Economic Times

Shree Tirupati Balajee shares list below expectations. What investors should do

Shree Tirupati Balajee Share Price: Shree Tirupati Balajee's stock listed at an 11% premium, slightly below expectations, but is trading 17% higher on its debut. Analysts had anticipated a premium of 20-30%. The FIBC (flexible intermediate bulk container) market is expected to grow significantly, fueled by rising demand across various sectors and the expanding e-commerce industry.

Mint

Did Amazon break India's competition law? The suspense is building

CCI's investigation wing has confirmed charges of anti-competitive behaviour, two people aware of the development said. Next, the Commission will issue a notice to the e-commerce marketplace.

Hindustan Times

iPhone 15 price cut: Apple iPhone 15, iPhone 14 now cheaper: Here's how much they cost

The iPhone 15 now starts at ₹69,900, while the iPhone 14 is priced at ₹59,900. Discounts may increase during the festive season on e-commerce platforms.

The Economic Times

Ecommerce companies set to run smartphone sales show this festival season

E-commerce giants like Amazon and Flipkart are expected to dominate the smartphone market this festive season with attractive discounts and deals. They aim to capture nearly three-fifths of the market, despite ongoing pricing disputes with brick-and-mortar stores. Offline retailers are urging government intervention against deep discounting practices.

Mint

If e-commerce and Instagram had a baby, that would be LoveLocal, says Akanksha Hazaari

LoveLocal's Akanksha Hazari shares her journey from fishing imaginary sharks on ships at a young age to escaping proverbial ones in the Indian startup ecosystem after being approached for acquisitions

Mint

Swiggy launches ‘private ordering’ for food delivery and Instamart—here is how to enable it

Swiggy has launched a new feature, an Incognito mode, which enables users to place an order privately across its food delivery and e-commerce business, according to a company press release on Friday, September 6.

Mint

Amazon eyes $5 billion in sales from Indian exporters this year in bid to move away from China sourcing

Nearly 1.5 lakh small Indian exporters are expected to sell their products directly to foreign buyers on the Amazon e-commerce platform this year, Reuters reported.

Business Line

E-commerce firms brace up for the festive season with seasonal hires

Ahead of the festive season, e-commerce majors in the country ramp up hiring for the seasonal workforce by nearly 20 per cent in the seller and logistics network

Business Standard

Amazon plans $5 bn of small-ticket exports from India in shift from China

The move by one of the world's largest e-commerce companies underscores India's growing role in the global supply chain

CNBC TV18

Nykaa Fashion sues Tata Cliq CEO for alleged breach of confidentiality and data misuse

The e-commerce giant claims that Gopal Asthana, Nykaa Fashion's former Chief Business Officer, used confidential information to benefit his current employer, Tata Cliq, where he now holds the position of Chief Executive Officer.

The Economic Times

Amazon Global Selling to cross $13 billion in cumulative e-commerce exports from India by 2024-end

Amazon's Global Selling program is set to surpass $13 billion in cumulative e-commerce exports from India by the end of 2024, with a target of $20 billion by 2025. Indian sellers on the platform have grown by 20% in the last year, reaching 1.5 lakh exporters selling over 40 crore products globally.

Business Standard

Meesho hires 850k staff before festivals, mostly from tier-3, tier 4 cities

E-commerce platform Meesho on Thursday said it has hired 8.5 lakh seasonal staff within its seller and logistics network ahead of the festival season, mostly from tier-3 and tier-4 regions. This marks a 70 per cent increase from its seasonal hiring last year, according to a company statement. "This festive season, we are particularly thrilled to have enabled 8.5 lakh seasonal jobs, especially in tier-3 and beyond cities. Empowering SMBs, local manufacturers and logistics providers to scale their business is resulting in meaningful economic opportunities that is driving financial inclusion in these regions," said Sourabh Pandey, CXO, Fulfilment and Experience, Meesho. Meesho's sellers have hired 5 lakh seasonal workers as part of their requirements for the festive season, the statement said. Additionally, Meesho has hired about 3.5 lakh gig workers through its third-party logistics providers including Delhivery, Ecom Express, Shadowfax, and Xpressbees, along with its own logistic ..

Mint

Who is Amitesh Jha? What we know about the new Swiggy Instamart CEO

Swiggy appointed Amitesh Jha as CEO of its quick commerce business Instamart, effective August 29. Jha, an experienced e-commerce professional with over 20 years in the industry, previously worked at Flipkart.

The Economic Times

US safety commissioners call for investigation into Shein, Temu

U.S. Consumer Products Safety Commission leaders are urging an investigation into e-commerce giants Shein and Temu for selling hazardous baby and toddler products. They seek to evaluate compliance with safety rules, third-party seller relationships, and product representation. Both companies face scrutiny over low prices attributed to the de minimis rule exempting certain imports from tariffs.

Business Standard

Horizon Industrial Parks to invest Rs 700 cr to redevelop CWC's warehouses

Logistics platform Horizon Industrial Parks, owned and managed by Blackstone Real Estate funds, will invest Rs 700 crore to redevelop warehouses of state-owned CWC in 13 locations. In a statement on Monday, the company said it has been "chosen as the lead partner by the Central Warehousing Corporation (CWC) to manage a portfolio of 13 last-mile logistics assets". The CWC is a public warehouse operator established by the central government under the Ministry of Consumer Affairs, Food & Public Distribution. During the 45 years of partnership, Horizon Industrial Parks will redevelop the government-owned assets into modern Grade-A facilities, tailored to tenants in fast-growing sectors like e-commerce, retail, third-party logistics, and cold chain. "With a development potential of 2.4 million square feet, this is one of the largest last-mile logistics portfolios in India. The investment commitment is expected to be around Rs 700 crore to support the growth of the portfolio," it ...

The Economic Times

D2C sports nutrition startup Nutrabay raises $5 million in funding from RPSG Capital Ventures

Founded in 2017, Nutrabay operates as a D2C multi-brand retail store, offering products from over 100 brands alongside its own private label under the Nutrabay name. These products are sold on its D2C website, various e-commerce platforms, and in offline supplement stores.

Business Standard

E-commerce major Meesho appoints Mohit Rajani as chief product officer

Meesho has distinguished itself from its peers by becoming a prominent choice among the younger generation, with one in every three users under the age of 25.

Mint

Zepto's valuation rockets to $5 billion as investors double down on India's e-commerce boom

Zepto, India's grocery delivery startup, has seen its valuation soar to $5 billion after a recent funding round led by General Catalyst Partners.

CNBC TV18

Hong Kong starts trading weekly options on Hang Seng Tech index

The city’s bourse is launching on Monday weekly options on the Hang Seng Tech Index, which tracks stocks including Alibaba Group Holding Ltd. and JD.com Inc. that also trade in the US. With many of its e-commerce giants losing shimmer in the recent earnings season, the gauge has lost 5.4% this year, compared with a 5.5% gain in the benchmark Hang Seng Index.

The Economic Times

Blackstone’s Horizon Industrial Parks inks pact to manage India govt’s logistics assets

Blackstone Group's Horizon Industrial Parks has partnered with India's Central Warehousing Corporation to manage 13 last-mile logistics assets. The 45-year agreement will see Horizon redeveloping these assets into modern, Grade-A facilities, supporting sectors such as e-commerce and retail. The partnership aims to enhance operational excellence and support India's rapid urbanization.

The Economic Times

Mastercard wants to get rid of card numbers for online shopping

Mastercard Inc. aims to combat online payment fraud by expanding the use of token technology to replace credit card numbers and passwords with biometric data such as fingerprints and face scans. The company is processing 1 billion tokenized transactions weekly and plans to tokenize all e-commerce transactions in Europe by the decade's end.

Business Standard

E-commerce industry fuels state's packaging, export capability: Adityanath

E-commerce platforms added momentum to Uttar Pradesh government's efforts towards enhancing packaging and export capabilities and promoting Centre's One District One Product (ODOP) scheme, Chief Minister Yogi Adityanath said on Friday. The chief minister said the state is focused on enhancing packaging and export capabilities by leveraging design, technology, and market access and also called upon companies to take advantage of the state's warehousing policy, according to an official statement. "We focused on enhancing packaging and export capabilities by leveraging design, technology, and market access. However, the work of giving it more momentum happened when Flipkart Group joined us," Adityanath said at an event at Lok Bhavan, where he virtually inaugurated Flipkart's two new warehouses in Unnao and Varanasi. He also emphasised how these platforms are fostering healthy competition and empowering every citizen, whether in urban or rural areas, to reach global markets. He said th

The Economic Times

Macrotech Developers acquires 2 warehousing cos for Rs 96 cr

Macrotech Developers has acquired Opexefi Services and One Box Warehouse for a total sum of nearly Rs 96 crore. This strategic move aims to bolster their logistics park and warehouse development sector. The logistics and warehousing market in India is experiencing a significant surge, driven by economic reforms and rapid e-commerce growth.

Business Line

Amazon India signs MoU with Indian Railways to scale up e-commerce deliveries

It will work with the Railways in establishing a hub and spoke model for one origin-destination pair

The Economic Times

E-commerce platforms fuel state's packaging, export capabilities: Yogi Adityanath

Chief Minister Yogi Adityanath noted the key role e-commerce platforms play in boosting Uttar Pradesh's packaging and export capabilities, aligning with the Centre's One District One Product (ODOP) scheme. Speaking at the inauguration of Flipkart's new warehouses in Unnao and Varanasi, he emphasized job creation, technological advancements, and enhanced market access. The initiative is set to generate significant employment and foster local MSMEs.

Mint

Zepto secures another $340 mn at $5 bn valuation as quick commerce booms

The Mumbai-based firm has raced its way to bag some of the biggest funding rounds so far this year, reshaping India’s e-commerce sector