Amazon growing grocery biz, says India head
Amazon plans to achieve its goal through a combination of formats including Amazon Fresh and Amazon Pantry and delivery of daily items from brick-andmortar outlets of partner retailers More, Future Group. The long-term goal for Amazon is to turn India into the largest overseas subsidiary for the Seattle-based company.
Government considering e-commerce policy, no timeline fixed, says Goyal
Piyush Goyal said that a draft policy covering various areas of e-com...
Govt asks e-commerce firms to file FDI compliance report annually
"Against Sl. No. 15.2.3, for entry (p), the following entry shall be substi...
India ranks 73rd in UN index assessing e-commerce readiness
The United Nations Conference on Trade and Development's Business-to-Consumer (B2C) E-commerce Index 2019 has been topped by the Netherlands for the second consecutive year. The index scores 152 nations on their readiness for online shopping, worth an estimated USD 3.9 trillion globally in 2017, up 22 per cent from the previous year.
Setback for India as WTO extends nil tax on e-transmissions
As per an UNCTAD study, India’s potential loss of revenue by not taxing electronic transmissions is around $500 million every year. Of the total $8 billion of potential tax losses projected for 58 developing countries, Mexico, Thailand, Nigeria, India, China and Pakistan face the highest losses, revealed the research paper.
In talks with SBI to jointly run e-commerce portal for MSMEs: Nitin Gadkari
MSME Minister Nitin Gadkari on Thursday said that he is to meet SBI Chairman next month to discuss whether the bank can jointly run an e-commerce portal called Bharat Craft, meant for taking Indian MSMEs to the global platform. “For the first time, after our govt came to power, we are readying a portal called Bharat Craft,” Gadkari said
Global policy uncertainty could push 7 mn in India, 31 mn globally into poverty: World Bank
Highlighting that India's exports could rise by about half a percentage point and income by 0.2% from trade diversion due to trade conflict between other countries, it cautioned worsening trade conflict leading to a slump in investor confidence to push more than 31 million people into poverty.
We’re playing by the rules: Club Factory
Owing to the media reports on Chinese e-commerce companies shipping cheap products to customers in India directly from China, Club Factory’s founder, Vincent Lou said that the company's business operations are in alignment with Indian laws. The Indian government does not allow foreign e-commerce companies to sell directly to consumers.
Annual deadline for ecommerce's FDI compliance check: September 30
Sept 30 every year is the deadline for ecomm firms to ready their annual compliance reports as per FDI norms.
No predatory pricing, foreign e-tailers have to follow Indian law: Piyush Goyal at ET Awards 2019
Speaking at the 2019 ET Awards, Commerce Minister Piyush Goyal says foreign e-commerce companies cannot exercise predatory pricing just beca...
Social media buys on the rise: Study
A survey by digital payments company PayPal and market research firm Ipsos has found that adoption of social commerce in India is at a higher scale than the rest of the world. Digitisation has led to innovative use of online transactions which is why 62% of businesses in India accept online payments compared to 55% global average.
DPIIT received some complaints of e-commerce firms offering deep discounts: Piyush Goyal
"Some representations have been received in this department, complaining that e-commerce companies are offering deep discounts, indulging in predatory pricing, engaging in B2C business, exercising control over inventory and influencing the prices of goods sold on the platform," Piyush Goyal told Rajya Sabha.
Ecommerce to contribute 5% or $4 bn to FMCG sales by 2022: Nielsen
"This is in half the time that brick and mortar retail took to evolve. That said, these channels are not cannibalizing each other, and all continue to grow with e-comm outpacing modern trade and traditional trade," said Sharang Pant, Head-Retail Measurement Services and Retailer Vertical, South Asia, Nielsen Global Connect said.
E-commerce companies cannot influence prices of products on platform: Draft guidelines
E-commerce companies cannot influence prices of products being sold on their platform and must adhere to fair trade practices, as per the dr...
Retailers' body is "cautiously optimistic" on implementation of FDI rules for e-commerce
Department of Industrial Policy and Promotion under Ministry of Commerce and Industry had issued clarifications in December last year pertaining to FDI rules in the e-commerce sector. Now that the govt is tightening the rules for foreign direct investment in e-commerce sector, Retailers Association of India is "cautiously optimistic" on its effective implementation.
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