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Homegrown e-commerce platform Flipkart on Thursday said video as a format is rapidly gaining adoption and Indian customers have spent over 2 million hours on its video commerce offerings in the past one year. India is one of the top consumers of internet data, and with Indian consumers becoming increasingly tech-savvy and digitally inclined, video commerce in the country promises great potential. According to Flipkart, Indians have spent over 2 million hours on its video commerce offerings, from June 2023 to May 2024. Tier 2 and tier 3 regions comprised 65 per cent of overall video commerce engagement, mostly in categories like fashion, beauty, personal care, home decor and furnishing. The maximum viewership clocked on a single live commerce video was 1.4 million, it added. "Video as a format is rapidly gaining adoption, especially among women in tier 2 and tier 3 regions, millennials and the Gen Z audience pan India. The top 5 cities leading the way for Flipkart's Video Commerce engagement are NCR, Bangalore, Mumbai, Hyderabad and Kolkata," the e-commerce major said. Three main reasons why customers primarily from below the 30 year age group and tier 2 and tier 3 regions flock to this format are relatability, trust, ease of access and interactivity, Flipkart said, adding that direct-to-consumer (D2C) brands, sellers and farmers also see value in video commerce offerings. "Flipkart's approach to video commerce has left an indelible mark in 2024, with events such as The Farmer's Alphonso Mango Day Live Stream (establishing direct farmer-to-customer connect), Big Bharath D2C livestream, The End Of Season Sale and Zero Hours witnessing strong engagement," Walmart-backed Flipkart said. Citing a report by Redseer Consulting, Flipkart said the short-form video industry in India is expected to create a total opportunity of USD 8-12 billion by 2030, and the overall short-video user base will touch 600 million by 2025. "Flipkart's video commerce offering is designed to meet an array of evolving needs, with the intention of not only creating an enhanced shopping experience but also addressing possible barriers that exist when it comes to online shopping," said Neha Agrahari, Senior Director, Video Commerce, Flipkart.<meta content="cms.next" name="cmsei" />

Video commerce offerings gain traction! Indians spent over 2 million hours video shopping, says Flipkart

Like us, have you also been scrambling to grab all the best deals on Amazon before it's Great Summer Sale 2024 ends today? Like us, are you also struggling to make sense of what’s worth your moolah and what isn’t amid the veritable ocean of product reviews? Then this article might be for you. ‘Tis the digital age, and it doesn’t matter if it’s a television you’re looking to buy or a tiny vegetable chopper, product reviews are holy. And these reviews apply to other services too — like booking hotels or trying new restaurants. But there’s always a catch, and lurking beneath the surface of seemingly helpful feedback can often be a sinister underbelly of fake reviews. Deceptive endorsements, crafted to manipulate and mislead, can wreak havoc on a business's reputation or send you down a path of buyer's remorse. In 2023 alone, Tripadvisor removed a staggering 1.3 million fraudulent reviews! Another research conducted by the UK government found that 11-15% of reviews in specific product categories were thought to be fraudulent. So, how can you, the savvy online consumer, navigate this minefield of opinions? Here's a survival guide: Trust your spidey sense: Genuine reviews feel real. They offer a balanced perspective, highlighting both the good and the bad. If a review gushes with unbridled praise or spews negativity without explanation, approach with caution. Read between the lines: Authentic feedback has a personal touch. It reflects the reviewer's unique experience. Beware of generic, repetitive reviews that sound like marketing copy – they might just be cleverly disguised ads. Digging deeper: Look for details! Genuine reviewers often provide specifics about what they encountered. Did the product have a faulty feature? Was the delivery delayed? Reviews lacking concrete details raise red flags. Spot the anomalies: Be wary of sudden bursts of overwhelmingly positive or negative reviews. These could be orchestrated attempts to manipulate ratings, not genuine consumer voices. Review the reviewer: Just like you wouldn't trust a stranger's advice on the street, don't blindly accept every online review. Look for reviewers who establish credibility through details about their experience. Fight the good fight: We all have a role to play in combating fake reviews. Platforms like Amazon offer guidelines for spotting deception, and consumer groups can provide valuable insights. The tech takeover: The good news? Technology is on our side. Advancements in AI are creating tools to identify suspicious patterns and flag potential fake reviews. By analysing social media interactions and spotting suspicious language, AI helps maintain the integrity of online review systems. So next time you shop online, keep an eye out for fake reviews and don’t hesitate to flag them. Remember, by working together, we can keep online reviews a valuable resource for everyone. Happy shopping! *This article is based on pointers originally provided by experts Nick Hajli and Nick Jennings in <a href="https://theconversation.com/how-to-spot-fake-online-reviews-with-a-little-help-from-ai-228124">The Conversation</a>.*<meta content="cms.next" name="cmsei" />

A guide on spotting fake reviews and being a savvy online consumer

Hyperlocal e-commerce firm magicpin has recorded 50 per cent month-on-month growth on the government-supported ONDC network as it crossed 30,000 daily order mark on the platform, the company said on Friday. magicpin joined Open Network for Digital Commerce about nine weeks ago in March end. "magicpin within the first four weeks of joining ONDC had scaled from 100 to 10,000 orders. By the fifth week, which was early last month we saw a massive leap to 20,000 daily orders, and now just another 4 weeks on and we have breached the 30,000 orders a day milestone on the network, all that in just 9 weeks of joining the network," magicpin CEO and co-founder Anshoo Sharma said in a statement. Lightspeed Venture-backed e-commerce firm received orders from its own buyer app and through buyer apps of multiple platforms like Paytm and PhonePe's Pincode. magicpin is also building a Software-as-a-Service (SaaS) platform for the ONDC initiative. "With this SaaS platform, magicpin aims to offer its proprietary technology stack, including tools for digital payments, customer engagement and loyalty programs to SMEs, thus enabling them to compete with larger players in the market," the company said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/ramkrishna-forgings-titagarh-rail-consortium-bags-12227-crore-order-from-railways/articleshow/101039655.cms">Ramkrishna Forgings-Titagarh Rail consortium bags ₹12,227 crore order from railways</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/with-gold-prices-hovering-at-near-highs-should-you-invest-in-the-yellow-metal-now/articleshow/101038839.cms">With gold prices hovering at near highs, should you invest in the yellow metal now?</a> <meta content="cms.next" name="cmsei" />

Magicpin clocks 50% monthly growth on ONDC with over 30,000 daily orders

<ul><li>TataNeu could be worth $15 billion as it is in position to clock $20 billion in sales by the end of this decade.</li><li>JM Financial has based this prediction on the gross merchandise value (GMV) of key categories on the superapp.</li><li>The company’s GMV currently stands roughly around ₹16,000 crore ($2 billion).</li></ul>Tata Digital’s superapp TataNeu — which brings all of its digital services and apps on a single platform — could be worth $15 billion, as per a report by Indian financial services group JM Financial. This could be a natural transition for the steel-to-tech-to-auto conglomerate which also has various consumer interest businesses including retail stores like Westside, Croma, FMCG brands from tea to salt, and also owns the grocery delivery app, BigBasket. “We believe there is a lot of value in the Tata ecosystem that Tata Digital can help unlock. Based on the gross merchandise value of key categories on Tata Neu, we believe the value of Tata Digital could be upwards of $15 bn,” it added. <cmsannotation type="cmsannotation" annotationid="‘An audacious endeavour’" comment="subhead" text="‘An audacious endeavour’">‘An audacious endeavour’</cmsannotation> In fact, the report compares it to the e-commerce pivot of US retail giant, Walmart — and can successfully leverage online and offline shopping experience — something even Amazon and Jio are trying to achieve. But, it comes with its own risks. “While Tata is ticking all the right boxes in their digital shift, the mere enormity of this transition makes this an audacious endeavour. Drawing lessons from Walmart’s pivot to e-commerce, we believe Tata will need sustained investments in this space to succeed,” the report noted. <cmsannotation type="cmsannotation" annotationid="More services – travel to food and more" comment="subhead" text="More services – travel to food and more">More services – travel to food and more</cmsannotation> JM Financial has also not accorded any value to Tata Pay, its own UPI service and other categories in the TataNeu bubble such as food and travel. It expects the company’s valuation to evolve with addition of new products and services. Tata Digital is yet to add existing brands like Vistara, Air India, Tanishq, Titan and others to the super app. “One thing is certain though. If executed well, there is a lot of value within the Tata group which Tata Digital can help unlock,” the report noted. <cmsannotation type="cmsannotation" annotationid="A 10x growth in gross merchandise value" comment="subhead" text="A 10x growth in gross merchandise value">A 10x growth in gross merchandise value</cmsannotation> If all works fine, JM Financial believes that TataNeu’s GMV could increase to ₹1.54 lakh crore (approximately $20 billion, at current conversion rate) by the end of this decade. The company based this prediction on the gross merchandise value (GMV) of key categories on the superapp. Its GMV — total value of merchandise sold over a given period of time — currently stands roughly around ₹16,000 crore ($2 billion). <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2021/FY2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2030E </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BigBasket </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,558 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹97,676 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1mg </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹309 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,607 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Curefit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹161 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,404 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Croma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,315 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹27,424 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata CLIQ </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹356 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,310 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Westside </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,940 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,826 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Caratlane </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,265 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9,808 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15,906 crore ($2 billion) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,54,056 crore ($19.8 billion) </td></tr></tbody></table>Source: VCCEdge, JM Financial Estimates Note: ‘E’ in FY2022E stands for estimates. <cmsannotation type="cmsannotation" annotationid="Good competitive advantage" comment="subhead" text="Good competitive advantage">Good competitive advantage</cmsannotation> JM Financial highlighted that it is difficult to accurately ascribe value to TataNeu due to lack of granular data around the number of users and GMV as it is early days of the app's launch. However, it emphasized that the valuation of the company should be akin to valuing an e-commerce company. TataNeu, which rolled out a little over eight months ago, was only open for 800,000 Tata Group employees and their friends and family till its formal launch in April. The superapp began with a cumulative consumer base of 120 million users and 2,500 offline stores, along with an 80 million app footprint across its digital assets. JM Financial believes that TataNeu is well placed to take market share away from its existing competitors like Flipkart, Amazon, Reliance Retail/JioMart. “Tata’s leadership in the fast-growing e-grocery segment (through Big Basket) and compelling omnichannel offerings in two of the largest ecommerce categories – lifestyle and consumer electronics – position it well to take market share away from the incumbents,” JM Financial said. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/maruti-suzuki-adani-enterprises-metropolis-idbi-bank-among-stocks-to-watch-out-for-on-june-7/slidelist/92049909.cms">Maruti Suzuki, Adani Enterprises, Metropolis, IDBI Bank among stocks to watch out for on June 7</a> <a href="https://www.businessinsider.in/business/startups/news/flexiloans-com-bags-90-million-to-cover-six-years-of-journey-in-one-year/articleshow/92041187.cms">FlexiLoans.com bags $90 million to cover six years’ of journey in one year</a> <a href="https://www.businessinsider.in/business/corporates/news/indian-corporates-made-a-full-comeback-with-111-billion-profits-but-the-same-cant-be-said-for-2023/articleshow/92033485.cms">Indian corporates made a full comeback with $111 billion profits, but the same can’t be said for 2023</a> <meta content="cms.next" name="cmsei" />

TataNeu could be worth $15 billion all thanks to BigBasket, Croma and Westside

<ul><li>Flipkart led the e-commerce segment in India in 2020 with 66% share of the $8.3 billion festive season sale, as per a report. </li><li>Walmart is on track to record $75 billion in global e-commerce by the end of this year. </li><li>Walmart continues to report strong e-commerce growth from India via Flipkart, Mexico and China.</li></ul>Walmart is going big on e-commerce flash sales as it continues to see strong sales throughout festive seasons across its major markets. In India, the US-based retailer would be prioritising Flipkart’s Big Billion Days sale held in November during the Indian festival of Diwali, Walmart International’s President and Chief Executive (CEO) Judith McKenna said in a quarterly earnings call held on August 17. According to consultancy firm RedSeer’s <a href="https://www.business-standard.com/article/companies/amazon-flipkart-and-others-clock-8-3-billion-in-festive-gross-sales-120112700033_1.html">report</a>, India’s online festive season sale during October-November 2020 raked in $8.3 billion in gross sales. Flipkart led the season with 66% of the total sales. Flipkart Internet Private Limited, the e-commerce entity, reported a revenue of ₹6,318 crore in the financial year 2020, as per data sourced from Tofler. “We're continuing to see strength in all of the categories that we've got, but we're prioritising the holiday season coming up. And in India, we're prioritising Big Billion Day, which is their Diwali festival, which is coming up in early November,” McKenna added. Flipkart is going to be a strategic part of Walmart’s e-commerce play this fiscal year as well. The world’s biggest company -- in terms of revenue -- claims to be on track to record $75 billion in global e-commerce by the end of this year on strong sales growth coming from India via Flipkart, Mexico and China. E-commerce net sales accounted for 19% of total net sales for Walmart Inc., in the last quarter. Though Walmart did not share any numbers related to Flipkart, the President and CEO Doug McMillon emphasised that the homegrown e-commerce platform has reported another good quarter with strong sales, improving trends in monthly active users and customers. “Our ecommerce marketplace in India, Flipkart, continues to drive strong growth in GMV [gross merchandise value], in line with our high expectations. This team has been busy... They're also increasing customer stickiness with Flipkart Plus. It's a tiered programme based on spend that helps us drive higher repeat rates. Customers and the programme transact more frequently, and we see lower churn than others,” McMillon said in the <a href="https://corporate.walmart.com/media-library/document/q2-fy22-investment-community-call-transcript/_proxyDocument?id=0000017b-5551-d7d1-a57b-ffd30a740000">earnings call</a> held on Tuesday. This quarter, Flipkart <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-3-6-billion-at-a-valuation-of-over-37-billion/articleshow/84338594.cms">raised $3.6 billion</a> (approx. ₹26,800 crore at current rates) at a post-money valuation of $37.6 billion. The e-commerce giant’s valuation has more than doubled since Walmart acquired it for $16 billion in 2018. Walmart’s international net sales were down by 15% to $23 billion in the April-June quarter of 2021 due to divestitures (selling, exchanging or closing down assets). Its total revenue was at $141 billion, representing a 2.4% increase from the previous quarter. SEE ALSO <a href="https://www.businessinsider.in/retail/news/a-third-of-internet-users-would-be-actively-shopping-online-by-the-end-of-this-decade-offline-retail-to-take-a-back-seat/articleshow/85390712.cms" style="">A third of internet users would be actively shopping online by the end of this decade, offline retail to take a back seat</a> <a href="https://www.businessinsider.in/business/startups/news/with-pharmeasy-mobikwik-and-ixigo-all-set-to-hit-the-public-market-orios-plans-to-go-deeper-into-pre-ipo-bets/articleshow/85359703.cms" style="">With PharmEasy, MobiKwik and ixigo all set to hit the public market, Orios plans to go deeper into pre-IPO bets</a> <a href="https://www.businessinsider.in/business/auto/news/tamil-nadu-government-is-upset-about-losing-money-on-luxury-cars/articleshow/85322536.cms" style="">Tamil Nadu government is upset about losing money on luxury cars</a> <meta content="cms.next" name="cmsei" />

Walmart to prioritise Flipkart’s Diwali sale ‘Big Billion Days’

<ul><li>The Series A round was led by Verlinvest and Sequoia Capital India.</li><li>The company will use this funding to expand its distribution footprint and develop new products.</li><li>Heads Up For Tails is also looking to hire 100 more employees by the end of this year.</li></ul>Pet care firm Heads Up For Tails has raised $37 million (about ₹277 crore) in a Series A funding round led by Verlinvest and Sequoia Capital India. Amitell Capital and existing investor W&amp;C PetTech also participated in the round. Heads Up For Tails, which is a retailer for pet products, plans to use this funding to increase its distribution footprint across India and accelerate new product development as well as manufacturing. It currently has distribution across Delhi-NCR, Bengaluru, Chennai, Hyderabad, Pune, Mumbai, Lucknow and Ludhiana. It also has manufacturing facilities and research and development (R&amp;D) facilities in Delhi and Bengaluru. A part of the funding would also be used to increase awareness among existing and new pet parents on the need for pet wellness and care through educational content and marketing activities. The company was founded by Rashi Sanon in 2008. The company currently has a team strength of 350 employees across marketing, product, brand, tech and manufacturing. It aims to increase their employee count to 450 by the end of 2021. Heads Up For Tails is also introducing a line of fresh pet food across the country and plans to expand its portfolio of 10 international brands such as Pet head, Isle of Dog and Wild Earth they represent in India. Sakshi Chopra, managing director (MD) of Sequoia India, highlighted that the Indian pet care market is valued at about $600 million and has been growing at over 20% compound annual growth rate (CAGR). SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/dailyhunt-josh-parent-verse-innovation-raises-over-450-million-doubles-valuation/articleshow/85262790.cms">Dailyhunt, Josh parent VerSe Innovation raises over $450 million, doubles valuation </a><a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-reports-nearly-three-fold-increase-in-annual-revenue-in-neck-and-neck-race-with-zomato/articleshow/85233393.cms">Swiggy reports nearly three-fold increase in annual revenue, in neck and neck race with Zomato </a><a href="https://www.businessinsider.in/careers/news/lenskart-aims-to-hire-over-2000-employees-to-ramp-up-its-operations/articleshow/85235059.cms">Lenskart aims to hire over 2000 employees to ramp up its operations</a><meta content="cms.next" name="cmsei" />

Pet care company Heads Up For Tails bags $37 million to expand its network

The Department of Telecommunications had repeatedly warned e-commerce companies in 2016 and 2019 for sale of unauthorised mobile signal boosters and illegal facilitation. The matter has heated up once again as Cellular Operators Association of India (COAI) has asked DoT to ban sale of such illegal equipment. In a letter to all e-commerce companies on May 1, 2019, DoT had said that ecommerce firms are facilitating and acting as a party to the illegal sale of unauthorised mobile signal boosters. In response to a statement that e-commerce sites are intermediaries only, DoT had said that they are operating as "online marketplace" and are covered under the provisions of Section 79 of the IT Act. The DoT said there is a need to have a Dealer Possession License (DPL) under the provisions of the Indian Wireless Telegraphy Act 1933 by the seller for the wireless equipment. ALSO WATCH: "Even the naariyal paani wala in Gokarna beach says Gpay Maadi," says a VC explaining why there is a burst of unicorns in India. <div type="Youtube" id="SJa8_cIMzuM" title="Why Are VCs Pumping So Much Money Into Startups In The Middle Of An Economic Crisis?" thumbUrl="https://i.ytimg.com/vi/SJa8_cIMzuM/mqdefault.jpg"></div> "Therefore, it is reiterated that if there is an licensing/statutory requirement on telecom equipment being sold or purchased it will be the responsibility of those purchasing or selling it as well as of the intermediaries facilitating such sale and purchase that the relevant statutes of the Government are not violated", DoT said. E-commerce sites had been asked to take corrective action to remove the sale and display of unauthorised boosters from the website and compliance to be intimated to DoT. This letter was addressed to Amazon, Flipkart, Snapdeal, Shopclues, Rediff, Indiamart, Alibaba, Aliexpress and Ebay. Similar warnings were issued in 2016 also. In March 2019, COAI sent letters to Flipkart and Amazon stating that these boosters fall under the category of "Wireless Telegraphy Apparatus", and the act prohibits possession of such apparatus without a licence. COAI had asked these companies to cease and desist from selling mobile signal boosters on the platform. COAI had yesterday asked the Department of Telecommunications to ensure complete ban on sale of illegal repeaters and boosters, offline or online through e-commerce websites. It has also asked DoT to take up the issue with Ministry of Commerce and Industry to prohibit import of such illegal boosters in the country with immediate effect. DoT has also been asked to request MHA to issue appropriate directions to State DGPs/CPs/Chief Secretaries to take action under law against the sellers of illegal repeaters in the country. COAI has pointed out in a letter that the grey market outlets and online ecommerce stores are making illegal low cost repeaters available for anyone to buy and install illegally. "The concern is that, such wide band devices draw in network signals to provide connectivity to a particular building or area in an unregulated manner, thereby depleting the network strength in other surrounding areas and results into call drops and depleted network quality", COAI said. The telecom industry has voiced its concerns as to how these illegal repeaters have become a major nuisance and are one of the biggest cause for customers facing mobile network issues like call drops and low data speeds, especially in densely populated localities. "Available freely in electronics markets, these repeaters are installed by unauthorised agencies at homes, offices, hostels and guest houses to boost mobile signal strengths. Even landlords and home owners are illegally installing such devices in densely populated areas to attract tenants, thereby adversely impacting mobile network availability in the entire given area, be it 2G, 3G or 4G networks", COAI said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/article/into-the-wild-epic-pictures-of-magnificent-beasts-in-their-natural-environment/slidelist/82113995.cms">Into the wild: Epic pictures of magnificent beasts in their natural environment</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/article/into-the-wild-epic-pictures-of-magnificent-beasts-in-their-natural-environment/slidelist/82113995.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/legal/news/facebooks-oversight-board-has-over-9000-responses-in-the-case-related-to-donald-trumps-suspension-from-the-platform/articleshow/82105250.cms">Facebook’s Oversight Board has over 9,000 responses in the case related to Donald Trump’s suspension from the platform⁠— a decision is coming soon</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/legal/news/facebooks-oversight-board-has-over-9000-responses-in-the-case-related-to-donald-trumps-suspension-from-the-platform/articleshow/82105250.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/thousands-of-igcse-students-are-anxiously-awaiting-clarity-on-board-exams-set-to-start-on-april-27/articleshow/82104477.cms">Thousands of IGCSE students are anxiously awaiting clarity on board exams set to start on April 27</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/thousands-of-igcse-students-are-anxiously-awaiting-clarity-on-board-exams-set-to-start-on-april-27/articleshow/82104477.cms"></a> <meta content="cms.next" name="cmsei" />

Amazon, Alibaba, Flipkart, Snapdeal and others get an angry letter from India's telecom regulator

Walmart on Thursday announced that it will triple its exports of goods from India to $10 billion each year by 2027. In a statement, Walmart said that its new export commitment is expected to provide a significant boost to micro, small and medium enterprises (MSMEs) in India, alongside ongoing efforts such as the Flipkart Samarth and Walmart Vriddhi supplier development programs. "The expansion in sourcing will include helping develop hundreds of new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and general merchandise, along with apparel, homeware and other key Indian export categories," it said. "We see huge potential for Indian suppliers to grow their businesses by leveraging the unique scale and global distribution opportunity Walmart provides," Doug McMillon, President and Chief Executive Officer of Walmart Inc said. Kalyan Krishnamurthy, Chief Executive Officer of Flipkart Group said: "Flipkart is proud to work with thousands of Indian brands, MSMEs and artisans, with a focus on making them successful. We provide a platform that allows them to reach the pan-India market and refine their all-important branding, marketing, logistics and compliance capabilities for the global market, too." To accelerate its India exports, Walmart will strengthen development of the supply chain ecosystem in India, both by boosting existing exporters and by expanding the nation's pool of export-ready businesses. The statement said that Walmart has sourced goods from India for more than 20 years, supporting local suppliers to help upgrade their operations and meet international standards, develop new product lines and build new capabilities in packaging, marketing, supply chain management and more. India is already one of Walmart's top sourcing markets, with annual exports worth about $3 billion. India-made apparel, homeware, jewellery and other popular products currently reach customers in 14 markets, including the US, Canada, Mexico, Central America, and the UK, through Walmart's Global Sourcing office in Bengaluru, which opened in 2002. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/instagram-facebook-messenger-outage-in-india-europe-japan-and-other-parts-of-the-world/articleshow/79661777.cms">Instagram and Facebook Messenger down for users across the globe</a> <a href="https://www.businessinsider.in/stock-market/news/infosys-hcl-tech-and-tcs-stocks-may-see-another-surge-estimates-edelweiss-heres-why/articleshow/79659516.cms">One research firm says shares of Infosys, HCL Tech, and TCS may see another surge — here's why</a> <a href="https://www.businessinsider.in/tech/news/india-desi-gps-finally-joins-china-russia-and-the-us-after-a-two-year-long-wait/articleshow/79656300.cms">India’s desi-GPS is now in the same league as the US, Russia and China — can scan 1,500 kilometres beyond its own borders</a> <meta content="cms.next" name="cmsei" />

Walmart looks to triple its 'made-in-India' exports to $10 billion every year by 2027

<ul><li>Flipkart CEO Kalyan Krishnamurthy in a recent interview has said that while grocery is a value-proposition for them, the e-commerce giant’s priority continues to be the marketplace.</li><li>With the coronavirus pandemic, several companies have pivoted or diversified into new ventures, or even accelerated their diversification plans to meet the demand.</li><li>Walmart-owned Flipkart had applied for a license to run Flipkart FarmerMart – a food retail entity that would sell agricultural produce of Indian farmers online.</li></ul>Walmart-owned Flipkart has been trying to mark its foray into grocery but it had recently been turned down by the Indian government. And now, Flipkart CEO Kalyan Krishnamurthy has said that while grocery is a value-proposition for them, the e-commerce giant is not going to forget its priority or change its long term strategy due to the coronavirus pandemic. “We are not in that opportunistic game of doubling down on anything. As for grocery, if we believe there is a strong value proposition, we will continue expanding our footprint but in a very sustainable way. We will not change our long-term growth strategy or category mix focus after the Covid-19 outbreak,” Krishamurthy told <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/our-focus-remains-on-pure-play-ecommerce-flipkarts-kalyan-krishnamurthy/articleshow/76252974.cms">Economic Times</a> in an interview. Krishnamurthy also added that grocery is just 0.1% of Flipkart’s marketplace. With the coronavirus pandemic, several companies have pivoted or diversified into new ventures, or even accelerated their diversification plans to meet the demand. Amazon has been running a pilot for its food delivery vertical in Bengaluru. MakeMyTrip too has entered food delivery with 5-star hotels, while the likes of Paytm have launched a contactless dining feature for restaurants in the post covid world. Walmart-owned Flipkart too had applied for a license to run Flipkart FarmerMart – a food retail entity that would sell agricultural produce of Indian farmers online. However, the Department for Promotion of Industry and Internal Trade (DPIIT) has rejected the application saying that the Flipkart FarmerMart would flout the regulatory guidelines. According to the government, any e-commerce platform with foreign direct investment can simply be the platform for the third party sellers to reach out to buyers, but it cannot sell inventory of its own. <a href="https://timesofindia.indiatimes.com/business/india-business/govt-rejects-flipkarts-plan-to-enter-food-retail/articleshow/76126956.cms">TOI r</a>eported that the Flipkart FarmerMart’s memorandum of association would not allow it to enter food retail. Flipkart is now reapplying for the license. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/vijay-shekhar-sharma-binny-bansal-come-together-to-back-the-latest-vc-firm-arkam-and-its-not-a-batman-reference/articleshow/76255655.cms">Vijay Shekhar Sharma, Binny Bansal come together to back the latest VC firm Arkam ⁠— and it’s not a Batman reference</a> <a href="https://www.businessinsider.in/business/news/infosys-co-founder-explains-how-the-next-google-facebook-or-amazon-can-be-born-out-of-india/articleshow/76243554.cms">Infosys co-founder explains how the next Google, Facebook or Amazon can be born out of India</a> <a href="https://www.businessinsider.in/india/news/iit-delhi-alumni-who-worked-with-the-un-and-indias-health-ministry-is-running-out-of-money-to-create-more-jobs-for-the-needy/articleshow/76244401.cms">IIT Delhi alumni who worked with the UN and India’s Health Ministry is running out of money to create more jobs for the needy</a> <meta content="cms.next" name="cmsei" />

Flipkart is putting the money where its mouth is⁠— and it’s not food and groceries yet

<ul><li>Global e-commerce giants Amazon and Walmart will have a new contender to face-off against in the Indian e-commerce market — OrderMe by Patanjali Ayurved. </li><li>The ₹3,000 crore FMCG brand is owned by Indian yoga guru, Baba Ramdev and his disciple Acharya Balakrishna. </li><li>The announcement to launch a ‘swadeshi’ e-commerce app comes three days after Prime Minister Narendra Modi gave a clarion call of being ‘vocal for local’ in India. </li></ul>After Mukesh Ambani’s tie-up with Facebook to give JioMart a push, US-based Amazon and Walmart have a new emerging contender in India’s e-commerce space — Patanjali Ayurved. Led by the yoga guru, Baba Ramdev, the ‘swadeshi’ enterprise announced its plans for an online e-commerce platform — OrderMe, three days after Prime Minister Narendra gave the ‘vocal for local’ call. It’s set to go live within the next 15 days, as per a <a href="https://www.timesnownews.com/business-economy/companies/article/baba-ramdevs-patanjali-to-launch-swadeshi-only-ecommerce-platform-orderme-free-home-delivery-of-products/592127">Times Now</a> report. Ramdev has thrown his hat into a ring where global e-commerce giants like Amazon and the Walmart-owned Flipkart are fighting the government’s equalisation levy ⁠— <a href="https://www.businessinsider.in/india/news/india-e-commerce-policy-is-on-hold-but-the-likes-of-amazon-flipkart-and-even-netflix-are-already-paying-the-price-for-not-being-made-in-india/articleshow/75709958.cms">which is 2%</a>⁠— and Asia’s richest man <a href="https://www.businessinsider.in/business/news/facebook-picks-up-10-stake-in-jio-platform-for-rs-43574-cr/articleshow/75283937.cms">Mukesh Ambani has joined hands</a> with Mark Zuckerberg’s Facebook, and a clutch of other investors with deep pockets, for the countrywide rollout of JioMart. Prime Minister’s Narendra Modi’s push for ‘swadeshi’ products, it seems like the perfect time for India’s own yoga guru to step up and capitalise on the opportunity. <div type="Article" hostid="261" msid="75709958" title="India’s grand e-commerce policy is on hold but the likes of Amazon, Flipkart, and even Netflix are already paying the price for not being ‘Made in India’" mstype="2" mssubtype="0"></div> Patanjali Ayurved’s managing director and chief executive officer (CEO) Acharya Balkrishna has confirmed the plan. According to him, the platform is an effort to meet Modi’s “vocal for local,” call. Ramdev has never made a secret of his feelings for international brands like Maggi and Nestle, that he believes Patanjali can easily replace. <div type="Article" hostid="261" msid="75701230" title="Modi's 'self-reliance' and 'local thrust' looks like a jab at China, sounds like RSS' 'swadeshi' ⁠— and it will be music to Baba Ramdev's ears" mstype="2" mssubtype="0"></div> Ramdev’s ₹3,000 crore FMCG brand has been aligned with the swadeshi narrative from the start. However, its toughest fight will be against another homegrown brand, JioMart, as both are targeting mom-n-pop stores. “OrderMe will only supply and endorse swadeshi products. It is Patanjali’s effort to contribute to our long-standing swadeshi movement by connecting all the local retailers and small shop owners so that those selling swadeshi products can benefit from our platform. They can join the platform and the plan is to deliver their products free of cost,” Balkrishna said, according to the report. He said the OrderMe app has been developed by Patanjali’s own IT team in conjunction with New Delhi-based Bharuwa Solutions and will be launched across Android and iOS. The Patanjali CEO is also doubling down on the swadeshi theme with in-house software being used to manage the countrywide distribution, sale and supply of products. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/chinese-hackers-are-using-backdoors-to-gain-unrestricted-access-to-companies-and-governments-and-its-not-about-the-money/articleshow/75796403.cms">Chinese hackers are using backdoors to gain unrestricted access to companies and governments — and it’s not about the money</a> <a href="https://www.businessinsider.in/stock-market/news/share-price-impact-on-indigo-spicejet-after-india-keeps-flights-grounded-till-may-31/articleshow/75798281.cms">Indigo, SpiceJet shares crash in morning trade after India keeps flights grounded till May 31</a> <a href="https://www.businessinsider.in/business/startups/news/experts-warn-startups-against-raising-funds-by-selling-equity-during-covid-19/articleshow/75798419.cms">Startups who need money during COVID-19⁠— don’t sell your stake now, warn experts</a> <meta content="cms.next" name="cmsei" />

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