Search Result for : Ecommerce

The Dollar Business Bureau Senior officials of the Ministry of Commerce will discuss and deliberate upon several major issues with regards to World Trade Organisation (WTO) in New Delhi this week. Indian officials posted at the WTO headquarter in Geneva (Switzerland), including JS Deepak - Permanent Representative of India to WTO, will take part in the deliberations, according to an official. The key issues that would be discussed include the matters related to the upcoming WTO ministerial conference in December in Argentina, subsidies on fisheries and permanent resolution on government’s stock-holding of foodgrains for the purpose of food security. The WTO ministerial conference is the topmost body for decision making. The issue pertaining to food security concerns various developing countries which offer foodgrain at subsidised ...

The Dollar Business Bureau Softbank, the largest investor in Snapdeal is exploring options for a merger with Paytm. Currently, the Alibaba group has a 40% stake in Paytm, with investments close to $1 billion, and Softbank was one of the early investors in Alibaba. Market-pundits averred that the deal could go in for an equity exchange in the value of $1 bn, which meant that an all-stock merger of Snapdeal with Paytm was more probable. The Son led Softbank had earlier been mulling a possibility of a merger with Flipkart too. Conversations with the Bengaluru-headquartered Flipkart for strategic mergers have been in news for about three months now. There was also conversation with Tiger Global, the large investor in Flipkart, and trade ...

The Dollar Business Bureau  Assocham, the industry association has found misinterpretations for e-commerce and commodity derivative exchanges under the current GST law. The association through its spokespersons said, "e-commerce definition, as given in the Goods and Services Tax (GST) dispensation, has been left so wide that it could go well beyond Amazon or Flipkart marketplace platforms and may even cover the commodity exchanges."  It suggested that the scope of electronic-commerce is not limited to providers such as Amazon and Flipkart alone, but also to businesses whereby a supply of goods or services is rendered through a digital or an electronic medium. There is a possibility of commodity exchanges being treated as e-commerce transaction although derivative-trading does not involve any delivery of actual ...

Sneha Gilada The Ministry of Food Processing Industry has announced that Amazon plans to invest about $500 million in India's food e-retail market. Other e-commerce firms in the industry like Grofers and Big Basket have also come forward with proposals for investments. The government has received investment proposals from a group of companies totalling $695 million in value.  In 2016, the government had pushed through a bill that opened up 100% FDI in the retail of food products manufactured or sourced from India. A similar proposition for non-food products is still in the working.  Minister of Food Processing Harsimrat Kaur Badal broke the news and hailed the series of investment proposals as a boost to the food processing Industry of India. From 2011-12 to 2015-16 (until December), the total FDI inflows in ...

The Dollar Business Bureau Coal imports have declined by 21.7% to 14.31 million tonnes in January as the power utility companies did not lift enough fuel due to the surplus stock available with them. Import of all types of coals in January this year was 14.31 million tonnes (provisional) compared to 18.28 million tonnes in the same month in 2016- an ecommerce platform, mjunction services limited jointly created by Tata Steel and SAIL told PTI. “In power sector, the state utilities are replete with stock and are aiming to curb imports altogether (except for coast-based plants) by March 2017. This explains the substantial drop....In steam coal imports in January 2017 vis-a-vis the same month last year,” said Vinaya Varma, Chief Executive Officer, mjunction. There was ...

The Dollar Business Bureau Amazon has launched its global 'Launchpad' programme in India to offer a platform to startups in the country to market, deliver and sell products across the world. India is the seventh nation where e-commerce major has rolled out its ‘Launchpad’ programme and this platform, which is ‘tailor-made’ for startups, is provided at a fee of Rs.5,000 per month. Amazon Launchpad is already available in the UK, the US, China, France, Germany and Mexico.With the help of the Launchpad page, entrepreneurs and startups can market their products on a world scale, by overcoming common challenges at the marketplace such as huge investments requirements to get noticed and reduced margins in channels, Amazon said. The Launchpad programme will provide access to startups and small firms to custom pages where the sellers can ...

The Dollar Business Bureau Ruling out the earlier predictions that the states’ service sector will generate more revenue after the Goods and Service Tax (GST) is rolled out, Gulati Institute of Finance and Taxation (GIFT) said this could be a wild dream to chase. According to GIFT associate professor Jose Sebastian, the study undertaken by states highlight that states were responsible for only 1.30% of central service tax collection in 2012-13. The state’s service sector is dominated by small-scale businessmen, who fall below the proposed GST threshold of Rs.10 lakh. "What matters is not the size of the service sector per se, but the presence of taxable services and the size of service providers," Sebastian said while presenting his research paper at the ...

By Deepak Kumar Speaking to The Dollar Business, H S Bhatia shares his company’s success story and its long-term business expansion plans in domestic and international markets. TDB: Can you tell us about your current business? H S Bhatia (HSB): We run two portals, www.bizpluss.in and www.surpluss.in. They serve different needs of the industry and generate about 90% of our revenue. We buy surplus products from manufacturers, exporters and brands from Dubai, China and the US, and sell them on our platforms. One is a B2B portal, where small resellers and dealers buy products for their shops, and the other is a B2C, where customers can directly buy from us and we deliver the products at their doorsteps, like any other normal ...