COMMERCE

  • Flipkart pulls out of Airtel Zero amidst net neutrality protests 4 days ago

    New Delhi: Following a huge backlash on social media over its decision to partner with Airtel for Airtel Zero, e-commerce giant Flipkart has now pulled out of the program. The decision from Flipkart comes in the wake of growing protests against net neutrality abuse. Flipkart, in an emailed statement, said, "We...
  • Railway Design Centre at National Institute of Design campus to improve ambience April 10, 2015

    New Delhi: Decor of Railway carriages and station premises are set to get an image makeover with the ministry joining hands with National Institute of Design to redesign coaches, toilets and other facilities. The Railways on Friday signed an MoU with the Commerce and Industry Ministry for setting up Railway Design...
  • Tumblr adds 'Buy', 'Pledge', or 'Get Involved' options to related posts on site March 29, 2015

    New Delhi: Microblogging site Tumblr has announced new features to its platform allowing users to fund, buy, or support certain campaigns or products posted on the site. With an update to its application for iOS and Android, Tumblr will automatically show buttons to 'Buy', 'Pledge', or 'Get Involved' for posts that...
  • Amazon in talks to buy online luxury retailer Net-a-Porter: Report March 27, 2015

    Bengaluru: Amazon.com is in talks to buy online luxury retailer Net-a-porter in what could be the biggest acquisition yet for the e-commerce giant, but the negotiations are in early stages and could fall apart, Forbes reported, citing a person familiar with the matter. The potential deal, first reported by Women's Wear...
  • Flipkart aims to generate 20 lakh jobs in 2015 March 25, 2015

    New Delhi: Domestic eCommerce major Flipkart today said it will generate over 20 lakh jobs through its marketplace and ancillary services this year. The Bangalore-based firm expects 60 per cent of this employment to be generated in the logistics and warehousing sector. "Sellers on our marketplace have been directly responsible for...
  • Make in India: Government plans to give away shirt pins, key chains March 24, 2015

    New Delhi: To promote 'Make in India' campaign, the Commerce and Industry Ministry plans to "give away" thousands of shirt pins and key chains with the lion logo of this ambitious initiative. These articles would be used by the Department of Industrial Policy and Promotion (DIPP), which has also sought...
  • India ready to talk with European Union on FTA: Nirmala Sitharaman March 23, 2015

    New Delhi: Negotiations for the proposed free trade agreement with the European Union may resume as India on Monday said that it is "ready to talk" with the EU on the pact. No negotiation was held after both sides failed to bridge substantial gaps on crucial issues including data security status...
  • India's fashion e-retail market to touch $35 billion mark by 2020: Google March 20, 2015

    New Delhi: Increasing Internet penetration and growing preference for online shopping is expected to help the online fashion retail market touch $35 billion by 2020, Google India today said. Fashion retail on e-commerce portals is expected to constitute 35 per cent of the total online retail revenue generated in India by...
  • No proposal under consideration to regulate e-commerce: Ram Vilas Paswan March 13, 2015

    New Delhi: Food and Consumer Affairs Minister Ram Vilas Paswan on Friday said that there is no proposal under consideration to regulate e-commerce business in the country. In a written reply to the Rajya Sabha, he also said the government has initiated investigation on the basis of formal complaints alleging unfair...
  • Chinese automaker SAIC Motor, Alibaba to invest $160 million in Internet-connected cars March 13, 2015

    Beijing: Chinese auto maker SAIC Motor Corp Ltd said on Thursday it would join forces with e-commerce giant Alibaba Group Holding Ltd to invest $160 million in a fund to develop Internet-connected cars. The pair will establish a joint venture and aim to launch their first car in 2016, SAIC said...
  • Alibaba to invest $200 million in photo-messaging app Snapchat: Source March 13, 2015

    Bloomberg: Alibaba Group Holding Ltd is investing $200 million in photo-messaging app Snapchat, a source familiar with the deal said, striking its latest Silicon Valley deal as the Chinese ecommerce company builds up mobile services. The investment values the company at around $15 billion, according to Bloomberg, citing people familiar with...
  • Alibaba hiring in Amazon, Microsoft backyard as it ramps up cloud unit operations in US March 13, 2015

    Beijing: China's Alibaba Group Holding Ltd, the world's largest e-commerce firm, has begun hunting staff in Seattle, home turf of Amazon.com and Microsoft Corp, focusing on savvy cloud computing hires as it ramps up U.S. operations. Three positions were open to people in Seattle, two of which also allow applications for...
  • Banks in smaller centres gender insensitive: Sitharaman March 8, 2015

    Mumbai: On International Women's Day, Union Commerce Minister Nirmala Sitharaman on Sunday chided lenders for being gender insensitive while dealing with female entrepreneurs' loan proposals in small cities and towns. "What I find missing, and that is where I think the government should also look at (is) how can it enhance...
  • Cochin business chamber unhappy as Budget fails to meet demands February 28, 2015

    Kochi: Cochin Chamber of Commerce and Industry has criticised Finance Minister Arun Jaitley for not giving funds for Kerala's crawling public sector industrial units in the Budget on Saturday. However, the body has hailed proposals like announcement on GST and reduction in corporate tax. "Our long-pending demands like AIIMS, Cancer Hospital,...
  • E-Commerce companies hope Jaitley will find a way out of current tax muddle February 27, 2015

    Bengaluru: India's IT capital is the hub of booming e-commerce. And in budget 2015, India's e-commerce companies are hoping they will find a way out of their current tax muddle. With online shopping and online transactions growing by leaps over the last year, the big e-commerce players like Amazon and...
  • Union Budget 2015: Commerce Ministry seeks cut in gold import duty February 27, 2015

    New Delhi: With a decline in gold imports, Commerce Ministry has sought reduction in import duty on gold, a step that could boost exports and manufacturing of gems and jewellery. "We have been asking for a cut in gold import duty," Commerce Secretary Rajeev Kher told reporters on the sidelines...
  • E-commerce companies build offline presence to reach out to people with no Internet access February 23, 2015

    New Delhi:Even as retail chains scurry to open online stores to cash in on the e-commerce boom in the country, firms like MakeMyTrip, CarTrade, FirstCry and Lenskart are planning to build their offline presence with brick and mortar stores to woo more consumers. A slew of companies that started business online are...
  • Budget:Government may announce incentives for medical devices sector February 22, 2015

    New Delhi: After relaxing FDI policy for medical devices sector, the government is expected to announce an incentive package, including tax benefits, in the forthcoming Budget for domestic manufacturers. In its Budget proposals, the Commerce and Industry Ministry has suggested to Finance Minister Arun Jaitley to increase import duty on medical...
  • Snapdeal buys luxury fashion portal Exclusively; expands presence in high-end fashion segment February 18, 2015

    New DelhiExpanding its presence in the high-end fashion segment, online marketplace Snapdeal has acquired luxury fashion portal Exclusively.com for anundisclosed amount. With this acquisition, the city-based firm that gets a little over $1 billion in gross merchandise value(GMV)from its fashion business expects this figure to touch $2 billion by the end...
  • Here's why discounts, low prices may not be viable for e-commerce sites in the long run February 15, 2015

    Mumbai: E-commerce companies have incurred combined losses of around Rs 1,000 crore due to heavy discounting strategy and this model is not feasible in the long run, a PwC report said. "Offering lower prices will not be viable in the long term. Despite luring in customers in the initial stages, lower...
  • Flipkart to double value of goods sold as demand rises February 12, 2015

    Mumbai: Flipkart aims to double the total value of goods it sells to $8 billion this year, two people with knowledge of the plans said, as India's largest online marketplace seeks to widen the gap with rivals including Amazon.com's India unit. Online retailers often use GMV, or gross merchandise value based...
  • Paypal's retail chief quits ahead of eBay split February 5, 2015

    San Francisco: Paypal executive Don Kingsborough, who helped orchestrate the payments company's move into physical retail stores, stepped down in January, the company said on Wednesday. His departure, which tech blog Re/code first reported, comes as the company competes with the likes of fast-growing start-up Square to get its payments system...
  • Chinese e-commerce giant Alibaba deploys drones to deliver tea in China February 5, 2015

    Shanghai: Echoing US online retailer Amazon, Chinese e-commerce giant Alibaba on Wednesday tested a drone delivery service, promising to whisk ginger tea to customers within an hour despite close controls on airspace. Alibaba's flagship consumer-to-consumer platform Taobao, estimated to hold more than 90 per cent of the Chinese market, showed off...
  • Amazon to set up warehouse centre in Hyderabad February 5, 2015

    Hyderabad: Online retail giant Amazon will set up a warehouse centre and start operations from a leased facility in about two months before its own facility is constructed. A delegation from Amazon, led by global director and head for Real Estate and Facilities John Schoettler, met Telangana IT Minister K T...
  • Alibaba's Jack Ma dethroned as China's richest man by Li Hejun, a solar energy entrepreneur: Report February 4, 2015

    Beijing: Alibaba Group Holding Ltd's Jack Ma is no longer China's richest man, according to a report on Tuesday, with the top spot snatched by Li Hejun, a solar energy entrepreneur whose Hanergy Holding Group Ltd has come under fire for its intragroup dealings. E-commerce tycoon Ma and his family slipped...
  • 'MakeInIndia' Twitter goof-up creates flutter on auto duty cut January 6, 2015

    New Delhi: Government's 'MakeInIndia' Twitter handle on Tuesday created a flutter on the micro-blogging site by erroneously stating that excise duty on cars and two-wheelers has been cut, but corrected the mistake later. The @makeinindia_, a Twitter handle managed by Ministry of Commerce and Industry, this afternoon posted that duties...
  • Why the way India shops is completely changing January 1, 2015

    New Delhi: From Amazons of the world to Chinese Alibabas to desi Flipkarts, everyone wants to have a pie of the burgeoning e-commerce market in India and consumers are not complaining with sweet sale deals coming their way. In the process, these e-retailers rubbed the brick-and-mortar traditional retailers wrong way in...
  • Government splits Chairman & MD post, names chiefs for 4 PSU banks December 31, 2014

    New Delhi: In a departure from the past, the government on Wednesday split the post of Chairman and Managing Director for PSU banks and named MD-and-CEOs of four banks including United Bank and Oriental Bank of Commerce. For the first time, PSU banks will have a...
  • Alibaba claims to have spent $161 million fighting fakes since 2013 December 23, 2014

    Beijing: China's Alibaba Group Holding Ltd, the world's largest e-commerce company, spent over 1 billion yuan ($160.7 million) combating fake goods and for improving customer protection from the beginning of 2013 to the end of November, the firm said Tuesday. "From Alibaba Group's perspective, we bear a serious responsibility in this...
  • How reliable are warranties for online purchases? December 22, 2014

    Kolkata: Even as online retail sales continue to shoot up with the e-commerce industry expected to touch Rs 216 billion ($3.5 billion) in the current fiscal, the sector has recently come under fire with both manufacturers and consumers questioning the reliability of warranties for online purchases and the consequences of...