Archives for February 2019

The government has cut allocation to the Unique Identification Authority of India (UIDAI) by about 8.7 per cent to Rs 1,227 crore for 2019-20 compared to Rs 1,345 crore in the 2018-19. According to the interim budget tabled in Parliament on February 1, the budgetary allocation for UIDAI as per revised estimates for the current […]

The upcoming policy to govern the country’s e-commerce is unlikely to provide for a separate regulator for the sector but will incorporate the recently updated foreign direct investment (FDI) norms. The Department for Promotion of Industry and Internal Trade (DPIIT) will hold a meeting with stakeholders including those companies and groups that were opposed to […]

Zee Entertainment Enterprises chief executive Punit Goenka expects the company’s stake sale to happen sooner than the April deadline it has set for itself. Suitors for the stake are predominantly US players, Goenka tells ET, as he discusses the stake sale process, dealing with a bear cartel and the Essel Group’s deleveraging efforts. Edited excerpts: […]

Amazon is looking at converting Cloudtail and Appario — two of the most prominent sellers on the platform — into wholesale entities undertaking business-to-business (B2B) transactions in order to be compliant with ecommerce FDI rules that came into effect on February 1. Cloudtail and Appario, in which Amazon holds 49% each, will then sell to […]

India’s e-commerce majors are looking at setting up a chain of subsidiaries that will allow them to create new vendors, after revised foreign investment rules barred their controlled entities from selling on the marketplaces. Legal experts pointed out that Amazon and Flipkart, the two online retail giants that have spent billions in Asia’s third largest […]

Global antitrust practitioners are lauding the new FDI in e-commerce rules, which kicked in last week, and said the new rules will prevent technology companies from forming monopolies in India. They termed it as a step in the right direction to protect smaller businesses which sell on platforms like Amazon. However, some felt that the […]

India’s top two online marketplaces, Amazon and Flipkart, have seen as much as a third of sales volume disappear on their platforms since the new foreign investment rules in e-commerce came into effect three days ago, people privy to the matter told ET. The new regulations bar some of the business practices that foreign-funded e-commerce […]

In a bid to curb notorious users from misusing the dislike button to harm content and channels on YouTube, the Google-owned video sharing platform is seeking creators’ feedbacks on ideas to tackle the issue. Explaining the “lightly discussed” strategies, Tom Leung, Director of Project Management at YouTube, addressed the issue of “dislike mobs” in a […]

US-based corporations Amazon and Walmart, which owns 77% stake in India’s largest online retailer Flipkart, together lost over $50 billion in market capitalisation on Friday after the government’s updated e-commerce policy came into effect. Both companies have made big bets on the Indian retail market – with Amazon committing $5 billion here while Walmart spent […]

The SoftBank-led Vision Fund is in talks to invest up to $1.5 billion in Chinese used car trading platform Guazi.com, two people with knowledge of the matter said. That would mark the latest Chinese deal by the mammoth $100 billion investment fund as it looks to expand in the world’s No.2 economy, and would come […]