Amazon and Walmart-owned Flipkart have sought an extension of the February 1 deadline for complying with the revised FDI norms in e-commerce, stating that they need more time to understand the details of the framework. These norms – which are effective February 1 – are likely to hit Amazon and Flipkart, the hardest. These two […]

New foreign investment restrictions for its e-commerce sector, which includes giants such as Amazon.com Inc and Walmart-owned Flipkart, could reduce online sales by $46 billion by 2022 according to a draft analysis from global consultants PwC seen by Reuters. Under the changes, e-commerce firms in India will from Feb. 1 not be able to sell […]

Flipkart India Pvt. Ltd., the wholesale arm of the Walmart-owned e-commerce marketplace in India, has received Rs 1,431 crore in fresh funding from its Singapore-based parent entity Flipkart Private Limited. The investment came days after the Indian government made clarifications in the FDI policy for e-commerce that significantly affects firms like Flipkart. According to documents […]

Flipkart CEO Kalyan Krishnamurthy has told select executives of third-party brands that the Walmart-owned e-tailer’s commerce business would be able to avoid any major impact from the recent government circular on FDI in e-commerce. The company is said to be taking a number of steps to deal with the fallout. Sources said it is in […]

Most online video streaming platforms have agreed to a code of self-regulation that may receive endorsement from the information and broadcasting (I&B) ministry. But divisions among companies on the principle of self-regulation and details of it persist. Netflix, Star India’s Hotstar, Reliance Jio, Zee5, AltBalaji, SonyLiv and Times Internet Limited-owned MX Player are among those […]

Travel booking site EaseMyTrip plans to raise Rs 1,500 crore ($210 million) through an initial public offer, potentially becoming the first company in the online travel booking space to list in India, according to people briefed on the matter. Rival MakeMyTrip, which is at least four times bigger than EaseMyTrip by revenue, listed on the […]

Amazon and Walmart-owned Flipkart have asked the government to extend the February 1 deadline to comply with recently announced changes in the foreign direct investment (FDI) policy for ecommerce, according to people with knowledge of the matter. Flipkart confirmed this in an email. “We are working diligently to assess all aspects of the Flipkart business […]

India’s super computing solution in a box – Param Shavak has seen demand increase from state governments to install them in universities and colleges for students to work on applications in areas such as bioinformatics and weather analysis, besides Artificial Intelligence and Virtual Reality. The Centre for Development of Advanced Computing (CDAC) said that it […]

Netflix is raising its U.S. prices by 13% to 18%, its biggest increase since the company launched its streaming service 12 years ago. Its most popular plan will see the largest hike, to $13 per month from $11. That option offers high-definition streaming on up to two different internet-connected devices simultaneously. Even at the higher […]

Facebook will invest $300 million over three years in local news globally as it faces blistering criticism over its role in the erosion of the news business worldwide. The investment in time and money is a significant expansion of a plan to help newsrooms in the U.S. and abroad create and sustain viable business models […]