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  • Cochin business chamber unhappy as Budget fails to meet demands 5 days ago

    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 6 days ago

    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 6 days ago

    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...
  • Delhi beats Maharashtra as India's e-commerce hub: eBay December 19, 2014

    New Delhi: Delhi has toppled Maharashtra as the No 1 market where maximum number of mobiles and accessories were sold online this year, e-commerce major eBay said today. Last year, Maharashtra was the top market of eBay. According to eBay's Census 2014, tier-II and -III cities are driving the e-commerce market in...
  • Small businesses to rule e-commerce December 15, 2014

    New Delhi: E-commerce has changed a lot of the ways that companies do business. E-commerce with all new eras, advances in technology have forced businesses to evolve, creating new ways of doing business and new rules for conducting business. The internet revolution has come a long way as far as promoting...
  • Now, food companies looking to enter into e-commerce segment November 29, 2014

    New Delhi: With rapidly growing e-commerce business, now food companies are looking to use this platform for selling their products so that they can expand their reach and visibility, a top government official said today. Speaking at the conference on 'India Farm 2 Fork' organised by PHD Chamber, Food Processing Secretary...
  • Why online grocery shopping is the next big thing in Indian e-commerce November 27, 2014

    Mumbai: Put off by snarled city traffic and a shortage of parking, more Indians are shopping for groceries online, helping e-tailers like Bigbasket.com and Localbanya.com turn in profits while supermarkets are struggling. The online grocers benefit from low overheads, as they store goods in warehouses outside big cities where commercial rents...
  • Watch: E-commerce giant Alibaba's founder Jack Ma gives thumbs up to PM Modi's vision November 27, 2014

    China's richest man and e-commerce giant Alibaba's founder founder gave a big thumbs up to Prime Minister Narendra Modi's vision. Jack Ma wants to invest more in India and help technology entrepreneurs in the country. He said, "I have heard the Prime Minister's speech and it is very passionate and...
  • Watch: Journey of Snapdeal CEO Kunal Bahl November 23, 2014

    With everything available on a click of the mouse, young entrepreneurs are ruling the e-commerce industry. Here is the journey of Kunal Bahl, who became the CEO of Snapdeal at the age of 31. ...
  • After Snapdeal, Ratan Tata invests in online furniture company Urban Ladder November 16, 2014

    New Delhi: Tata Group's Chairman Emeritus Ratan Tata has invested in online furniture company Urban Ladder, making it his second personal investment in an e-commerce firm after Snapdeal. Urban Ladder said that Tata's "inputs and guidance will be very valuable" for the company, but did not disclose the amount and other...
  • North East's food processing sector part of PM's 'Make in India' mission November 11, 2014

    Guwahati: The North East's Food Processing sector was a part of Prime Minister Narendra Modi's 'Make In India' mission, Union Food Processing Industries Minister Harsmirat Kaur Badal said ''Organic production has a very huge national and international market and only North East India has the potential to meet this demand...
  • Indian e-commerce market to reach the $20 billion mark next year: Report November 9, 2014

    New Delhi: The e-commerce market in the country is expected to grow 37 per cent to reach $20 billion by next year on the back of growing internet population and increased online shoppers, a report has said. "E-commerce in India is a $11 billion market, and is estimated to reach $20...
  • IIT-Kharagpur student offered Rs 91 lakh salary package November 4, 2014

    Kolkata: A month away from final placements, IIT Kharagpur students are being flooded with pre-placement offers with a 20 per cent increase this year. IIT officials said already around 125 students have been extended pre-placement offers and interviews, where most of the companies have increased the package offered by around 20...
  • Online retailer HomeShop18 stops selling books online November 1, 2014

    New Delhi: In what comes as a surprise, e-commerce major HomeShop18 has stopped selling books online. The company has issued a notice announcing that it will no longer be selling books on the site. The notice, however, states no reason as to why the company has discontinued the books section. The...
  • Healthkart bets big on health, nutrition market in India October 30, 2014

    New Delhi: eCommerce firm HealthKart is betting big on the multi-billion health and nutrition market in the country as an increasing number of people go online to buy products like health supplements and testing kits. "Unlike other retailers, we are in a speacialised category of health and it is growing...
  • Modi government sacks CMDs of 6 PSU banks after finding irregularities, scraps selection process October 28, 2014

    New Delhi: The Narendra Modi government has sacked the heads of six Public Sector Unit banks. The move comes after the Chairman of Syndicate Bank was arrested on bribery charges in August. A high-level panel report submitted to the government stated that there were irregularities in the selection process of the...