Most e-commerce firms with 'Singapore holding structures' would opt out of the new Sebi platform
The government on Thursday said 18,600 toys have been seized in the last one month from major retail stores, including those of Hamleys and Archies, at airports and malls across India for lack of BIS quality mark and use of fake licences. Meanwhile, consumer protection regulator CCPA has also issued notices to three major e-commerce players -- Amazon, Flipkart and Snapdeal -- for alleged violation of toys quality control order, it said. Since January 1, 2021, the government has made it mandatory for toys to conform with safety norms specified by the Bureau of Indian Standards (BIS), a national standard setting body.
In India, Amazon has taken an open cheque policy by sinking in over $2 bn to grow its business and tried to build local innovations to help it score over local players Flipkart and Snapdeal.
Amazon has increased the commission on non-core segments by 2-9 per cent.
Infosys co-founder Kris Gopalakrishnan said Flipkart and Snapdeal have made a mark in the start-up world.
Amazon India, Flipkart and Snapdeal are currently locked in a battle for market leadership in the burgeoning Indian e-commerce sector.
Amazon's Indian unit said earlier it will open five new warehouses in the country, which will almost double its storage capacity to half a million square feet.
Earlier this month, retail associations across the country held a meeting with the hardware manufacturers industry body -- MAIT -- to raise the issue of undercutting prices.
The online retailer offers largest assortment of products.
Amazon's huge investment of $80 million a month didn't win it favour over customers during the festive season, with rival Flipkart selling more goods, reports Alnoor Peermohamed from Bengaluru.
E-commerce sites like Amazon, Flipkart and Snapdeal have to ensure that the country of origin is displayed on imported products sold on their platforms, the Centre told the Delhi high court on Wednesday.
Paytm e-commerce plans to add close to a billion products from across the globe to its platform before the festive season this year.
Fewer e-commerce companies hired candidates from B-schools this year.
Competition in the booming multi-billion dollar Indian smartphone market is further set to intensify with e-commerce giants Amazon, Flipkart and Snapdeal all set to launch Google's much-awaited sub-$100 (around Rs 6,000) handsets on Monday.
To take on Amazon, Paytm e-commerce plans to add close to a billion products from all across the globe to its shopping cart.
The US-based firm already has two fulfilment centres in Mumbai and Bengaluru.
Mobile phones, televisions, refrigerators, laptops and stationary items will be allowed to be sold through e-commerce platforms like Amazon, Flipkart and Snapdeal from April 20 during the lockdown, officials said on Thursday. The clarification from a senior home ministry official came a day after Union home secretary Ajay Bhalla issued revised guidelines for the extended lockdown period till May 3.
Ecommerce firms will have it tough as govt turns down FDI proposal.
Venture capital investments in India's start-ups nearly halved to $1.5 billion in fourth-quarter 2015
Flipkart and Snapdeal take a cue from Amazon even as they differ on who is ahead in the race
Amazon's fulfilment centres, which store products of hundreds of vendors selling on the American online major's platform, are being cited by Karnataka state government authorities as a primary concern in an ongoing tax dispute.
Flipkart's valuation of $15.2 bn arrived at during latest round of $700-mn fund raise.
Cab-hailing service Ola is on the fast track on the back of a $500 million funding.
Tata Sons Chairman Emeritus Ratan Tata said e-commerce is one of the areas where is he looking to personally invest because of its "good potential" as a large proportion of the country's consuming public do not have the required access to goods.
The CAIT has complained to the Commerce Ministry to take action against these companies.
Snapdeal said it will give its users the option to defer the delivery by a few days till new currency notes become easily available.
In October 2012, Flipkart entered the menswear segment; later it launched a womenswear range
Amazon has seen its India sales growing four times this year.
Seeks to cut biz costs by 10% for sellers across 24 verticals, by slashing fees and delivery charges.
Amazon has built the largest store in India with 22 million products.
It also plans to open 5 new centres across India in addition to its two fulfilment centres (FCs) in Mumbai and Bangalore.
Industry body to write to commerce ministry, seek regulation for e-tailers.
The rises in the sector follow an increasing churn rate.
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India plans IPO rule changes to lure homegrown start-ups.
The term sheet with Flipkart could be signed within this week and the due diligence for the deal would commence immediately thereafter.
Tata Group's CLiQ is the latest to join the e-commerce club, to compete with the likes of Amazon, Flipkart and Snapdeal.
Global e-commerce company Amazon has said it sees "substantial uncertainties" in interpretation of Indian laws, which could impact its business in one of the world's fastest-growing multi-billion dollar online shopping market.
However, the firm continued with its operation in the Indian market.
Seeking to guard investor returns from excessive exchange rate movements, RBI Governor Raghuram Rajan on Thursday said a move towards an inflation target of 4 per cent will help contain the currency market volatility.
Market place model of e-commerce means providing of an IT platform by an e-commerce entity on a digital and electronic network to act as a facilitator between buyer and seller.
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