Singapore-based e-commerce platform Shopee - that launched in India only in December 2021 - has decided to close operations in the country. The official reason given by Shopee, which is controlled by NYSE-listed Sea Ltd, is changing global sentiments. In a statement, it said, "In view of the global market uncertainties, we have decided to close risks of our early-stage Shopee India initiative." The e-commerce platform has been hit by growing opposition from trade associations led by Praveen Khandelwal as well as homegrown social commerce start-ups.
Bolstered by encouraging quarterly performance, the island nation has raised its 2010 growth forecast to 13-15 per cent from the earlier projection of 7-9 per cent.
The country's economy has been primarily bolstered by good performance in biomedical and electronics manufacturing, among others, in the September quarter.
Satyam Computer Services Ltd on Thursday announced that it would recruit fresh graduates in its first management graduates hiring programme outside India
India, South Korea sign 7 agreements to boost cooperation.
'Look East' policy was first coined by the Narasimha Rao government in the 1990s and has been followed by the successive governments.
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