e-commerce | Pixr8 News

6Apr By Press Trust of IndiaNo Comments

INDIA

Now, This Indian State to Impose Tax on E-commerce Shipments

Himachal Pradesh has become the latest state to impose tax on e-commerce shipments with the state Assembly today passing a bill providing for levying tax on all online purchases to check revenue loss caused by online trading. Major states like Gujarat, Madhya Pradesh Rajasthan and Uttar Pradesh have already announced imposing tax on online purchases to protect local traders. The HP Assembly passed the Himachal Pradesh Tax on Entry of Goods (Amendment) Bill 2016, that provides for levying tax on all online purchases to check revenue losses caused by online trading. The bill was passed without any discussion as the BJP members were protesting on some other issue when the bill came up for discussion. As per Excise and Taxation Minister Parkash Chauhdary, the Bill includes provisions to...

Indian Govt Allows 100% FDI in Marketplace Model of E-commerce

29Mar By Press Trust of IndiaNo Comments

INDIA, News

Indian Govt Allows 100% FDI in Marketplace Model of E-commerce

The government permitted 100% foreign direct investment (FDI) in the marketplace format of e-commerce retailing with a view to attract more foreign investments. The norms on FDI in the sectors of e-commerce, and IT and ITeS are expected to be part of detailed guidelines, which would be rolled out soon by the government, sources said. Last week, a group of senior officials from departments of DIPP, corporate affairs and economic affairs, among others, discussed these matters in great detail. According to sources, the DIPP has suggested that 100% FDI should be allowed in “marketplace model e-commerce” activities. In such a model, the e-commerce company provides an online platform for buyers and a sellers. At present, global e-tailer giants such as Amazon and Ebay are operating onlin...

Startup Born At TED, Now Covering 1 billion Consumer Products

9Mar By No Comments

Story

Startup Born At TED, Now Covering 1 billion Consumer Products

Commerce is becoming pervasive – every interaction with a consumer is an opportunity to inform, educate, and sell products. In order to become Product-Aware (as businesses today are location-aware) businesses are going to need reliable and comprehensive product information for making informed decisions. Product awareness is nothing but, a state where every app and website has access to comprehensive product data in real time that will help them serve their customers in a better way. After spending two decades in the US at the Microsoft Corp headquartered at Redmond, Sanjay thought about building his own venture in India. Sanjay was at the TED conference in Oxford, England when the thought of starting a “product related data analytics company” struck him. The idea of building algorithms t...

IT, Start-ups Get Less Attention in Budget 2016: Nasscom

1Mar By PriyankaNo Comments

News

IT, Start-ups Get Less Attention in Budget 2016: Nasscom

The union budget for 2016-17 was a mixed bag for the Indian IT industry and start-ups, which witnessed very few proposals with caveats, the industry’s apex body Nasscom said. “The budget is a mixed for the technology and services sector, as clarification and simplification boost business and more technology adoption in governance is a step in right direction,” Nasscom said in a statement. “In the backdrop of global economic volatility, there are unmet expectations on policy announcements that enable ease of doing business for our sector. The budget partially covers our wish list on policy bottlenecks, including ease of business, nurturing start-ups, products and e-commerce sector,” Nasscom chairman B.V.R. Mohan Reddy said. On Finance Minister Arun Jaitley’s stress on leveraging techn...

Ankit Nagori’s (Chief Business Officer) Six Years Journey At Flipkart

10Feb By AnkitaNo Comments

Story

Ankit Nagori’s (Chief Business Officer) Six Years Journey At Flipkart

In February 2010, a fresh-faced engineering graduate cold-called India’s hottest e-commerce startup at the New Delhi World Book Fair. Ankit Nagori had heard of Flipkart, a Bengaluru-based startup that had broken new ground by selling books online ever since it acquired its first customer in October 2007. Compared to the heavyweight brick-and-mortar booksellers and publishing houses that participated in the fair, which is held every year at Pragati Maidan in the national capital, Flipkart was among the smaller exhibitors. “Flipkart was a small company but it was one of the largest startups in the country,” recalls Ankit, then a Delhi lad of 24 who had completed his engineering from IIT-Guwahati in 2007. “Any entrepreneur would have loved to become something like Flipkart, even at that sm...

Alibaba Started Trade Facility Centre in Jaipur, Launched Hindi Website to tap SMEs

30Jan By Press Trust of IndiaNo Comments

BUSINESS

Alibaba Started Trade Facility Centre in Jaipur, Launched Hindi Website to tap SMEs

Alibaba.com, the wholesale trading platform of China's Alibaba Group, today unveiled its first physical trade facility centre in the country at Jaipur and a Hindi portal, aimed at connecting small and medium businesses with global buyers. "We are excited about working with our Indian partners to provide comprehensive and dedicated trading solutions for local Indian sellers to explore more cross-border trading opportunities. Our ongoing efforts in India also showcase our long-term commitment to the market," Alibaba.com Head Global Business Development Timothy Leung said in a statement. By providing information and services in Hindi, the site will enable Indian traders, especially those from small cities and rural areas, to easily connect with merchants worldwide, he added. He said ...

28Jan By NitishNo Comments

CHINA

Alibaba Revenue Jump 32 Percent in Q4

AFP- Chinese e-commerce giant Alibaba revenue jump 32 percent year-on-year for the quarter ending in December, it said in a statement Thursday, despite slowing growth in the world's second-largest economy. Alibaba, which dominates the consumer-to-consumer market in China, said revenue reached $5.33 billion (CNY 34.54 billion or roughly Rs. 36,155 crores) in the December quarter, beating an average forecast of CNY 33.2 billion in a survey of analysts by Bloomberg News. Investors have hammered the New York-listed shares of Alibaba as a proxy for China's falling growth, weakening currency and domestic stock market turmoil. China's economy grew 6.9 percent in 2015, the slowest rate since 1990. Fourth-quarter growth alone slowed to 6.8 percent, its worst since the global financial cris...

Flipkart’s Myntra unit expects to turn profitable in fiscal 2017

28Jan By reutersNo Comments

Story

Flipkart’s Myntra unit expects to turn profitable in fiscal 2017

Myntra, part of Indian's biggest e-commerce company Flipkart, said it expects to turn profitable by the end of next financial year as the online fashion store looks at slashing discounts and curbing supply-chain costs. Shopping online is becoming more popular in India due to the rising use of cheaper smartphones and India's e-commerce sector is expected to grow to $220 billion by 2025. However, fierce competition to win customers through deep discounting has led to mounting losses for Flipkart along with rivals Snapdeal and Amazon. Myntra now plans to reduce discounts by 3-4 percentage points and the company expects to lower the number of products that are discounted on its website. Myntra's 60 percent of revenue in the next financial year would come from products sold at full ...

13Jan By Sonia MotwaniNo Comments

Story

Ex-Unilever and Google Executives Launched Smytten, a Platform For Premium Brands to Reach Their Target Consumers

Smytten is enhancing the way affluent Indian consumers discover, interact with, and purchase premium products and services. It was launched in October 2015 by ex-Unilever and Google executives, Siddharth Nangia and Swagata Sarangi. Siddharth and Swagata were studying at ISB Hyderabad when they first met. Post-graduation, Swagata was heading business marketing at Google where he was deeply embedded into the Indian internet and digital ecosystem. “During my interaction with multiple high-end brands across sectors, I saw a clear need of a dedicated platform to reach and engage the premium audience in a crowded and cluttered digital space,” he says. Siddhartha on the other hand, was a director at Unilever UK before taking the entrepreneurial plunge. “Given our background in consumer products...

Jeff Bezos Shows as a Hindu God “Lord Vishnu” on Fortune Magazine Cover, Irks NRI

12Jan By NitishNo Comments

News

Jeff Bezos Shows as a Hindu God “Lord Vishnu” on Fortune Magazine Cover, Irks NRI

In latest issue of Fortune 500 magazine, Jeff Bezos, Amazon CEO portrays as a Hindu god Vishnu on cover page. The move is highly criticized the Indian community in the US over “trivialisation of their venerated deity”. In International edition of the January issue, Fortune Magazine features a story about Amazon’s expansion in India. The titled is ‘Amazon Invades India’ and it explained about how Bezos “aims to conquer the next trillion-dollar market”. An illustration of the Amazon CEO striking a customary form of Vishnu can be seen on the cover. The Fortune cover page has been created by Sydney-based illustrator Nigel Buchanan. His clients include The Wall Street Journal, MTV, The New York Times, etc. Amazon entered Indian e-retail space around three years ago and since then has f...

FIR Against Snapdeal For Flouting Maggi Ban

5Jan By Press Trust of IndiaNo Comments

News

FIR Against Snapdeal For Flouting Maggi Ban

An FIR has been registered against the CEO and founder of an e-commerce major for allegedly selling popular Maggi noodles online during the ban period, in five Indian states. A case was registered yesterday against CEO of Snapdeal Kunal Bahl and its founder Rohit Bansal for online sale of Nestle's instant noodles in five states including Rajasthan during the period of ban between June 7 and October 30 last year, police said today. A complaint was yesterday lodged by Lalit Sharma, a Jaipur-based lawyer following which police registered an FIR under sections 420 (cheating), 120-B (criminal conspiracy), 272 (adulteration of food or drink intended for sale), 273 (sale of noxious food or drink) of the IPC and sections 59 and 63 of the Food Safety and Standards Act 2006. When contacted,...

31Dec By AnkitaNo Comments

Story

Video: The Story Of O2O (Online to Offline) Market In China

Online to Offline is a rather new but hugely popular concept in China’s E-commerce scene. Consumers place an order and make the payment online to receive offline goods or services. Now, this Internet-based business model is reshaping the home renovation market. Office worker of China, Mr. Ke Yong plans to renovate his apartment. Instead of going through the hassle of visiting different renovation companies for help, he has chosen a mobile app called Huizhuang to find a contractor. O2O renovation has become an increasingly popular option for renovation customers in China, with more economical, convenient, and transparent services, a reputation not so often associated with the traditional renovation industry. Part 2: Riding the O2O tide Liu Yuxi established Huizhuang in May 2013...