Five-day festivity may see etail market top $1.7 bn in sales

download (10).jpgSource: ETRetail.com, Sept 25, 2017

BENGALURU: India’s online retail market is expected to have grown by over 50% during the festive sales in 2017, as the industry, led by Flipkart and Amazon India, is pegged to crossed $1.7 billion in sales in five days. The annual flagship sale events last year saw over $1billion of sales registered just between Flipkart, Amazon India and Snapdeal, according to industry executives and analysts.

While the first five days of the festive sales have shown clear leadership trends, the entire 30-day period till Diwali is significant for the ecommerce players to boost their numbers, with the total industry gross merchandise value (GMV) during the festive period expected to touch Rs 15,000 crore ($2.3 billion).

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Pharma exports pick up in August; but still down compared to last year

Source: The Hindu Business Line, Sept 23, 2017

Hyderabad: The decline in pharmaceutical exports during April – July this year has been halted as they registered a 4 per cent increase in August compared to same period last year.This was disclosed by Madan Mohan Reddy, Chariman, Pharmaceutical Export Promotion Council (Pharmexcil) and its Director-General Ravi Uday Bhaskar on the sidelines of the 13th annual meeting of the Pharmexcil held here on Saturday.

During April-July, pharma exports declined 7.9 per cent. This trend, however, was reversed in August which showed 4 per cent growth,’’ Reddy, who is also Director, Aurobindo Pharma Ltd, said.

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Joint panel formed to boost India, S. Korea trade, investments

Source: The Hindu Business Line, Sept 24, 2017

New Delhi: Seeking greater economic cooperation with South Korea, Commerce and Industry Minister Suresh Prabhu today said a joint panel has been set up to identify areas of high-end technological components to boost trade and investments between the two countries.

The Minister was in Korea for Asia-Europe (ASEM) Economic Ministers meeting. He also participated in the third Joint Ministerial Review of the India-Korea Comprehensive Economic Partnership Agreement (CEPA).

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Hybrid, electric vehicles continue to attract incentives under FAME scheme

download (9).jpgSource: Business Standard, Sept 24, 2017

New Delhi: Electric and hybrid vehicles will continue to attract incentives for at least another six months under the FAME India programme as it has been extended up to March 31, or till the launch of Phase-II of the scheme by Niti Aayog.

The scheme offers sops on electric and hybrid vehicles of up to Rs 29,000 for bikes and Rs 1.38 lakh for cars, thereby lowering their price for buyers.

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Essar to set up 4 small & medium LNG terminals

download (8).jpgSource: The Economic Times, Sept 25, 2017

HYDERABAD: Essar Ports is looking to set up a cluster of small and medium sized terminals for handling liquefied natural gas on India’s west and east coasts to capitalise on the growing demand for the cleaner fuel. The company, part of the Essar Group, which has interests in ports and shipping, has identified land on both the coasts and plans to come up with two terminals in the first phase and two in second phase, with capacities ranging from 2.5 million tonnes per annum (mtpa) to 5 mtpa.

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E-comm cos see big boom in smartphone sales in festive season

Source: ETRetail.com, Sept 22, 2017

New Delhi: E-commerce majors Flipkart, Amazon and Paytm Mall have seen a huge spurt in smartphone purchases on the first day of their festive season sales, beating last year’s figures.

Flipkart, which kicked off its ‘The Big Billion Days’ (TBBD) sale yesterday, said it has sold 1.3 million smartphones within the first 20 hours of the category opening for sale.”The mammoth order book is 2 times the number of smartphones Flipkart sold in the same time-frame during Day 1 of TBBD’16, and surpasses the total number of smartphones sold across India in a single day, both through online and offline channels, by a big distance,” it said in a statement.

An Amazon India spokesperson said it saw a massive opening of its festive sales.

“…we have already seen a 100 per cent increase over previous Diwali, even before the end of Day One. For smartphones, we saw an even larger gain,” the spokesperson added.

The boom in sale of smartphones is on account of various offers and discounts being offered on various e-commerce sites, coupled with affordable payment solutions like ‘No Cost EMIs’, exchange and buyback offers.

E-commerce players have also entered into exclusive tie- ups with handset makers to launch new phones on their platform exclusively.Most companies will end their sale around September 24-25 and are likely to commence another round just before Diwali.ShopClues, which focuses on tier II and III towns, has launched a feature phone on its platform — Inovu i7 — priced at Rs 349.

Alibaba-backed Paytm Mall, which was spun off from One97 Communications earlier this year, said it aims to sell 10X the volume of smartphones sold on an average day.

“We are offering the lowest price on smartphones and you can compare it with any other platform. We are confident that the smartphone sales at our platform will grow in leaps and bounds, given the unbeatable offers this festive season, Paytm Mall Chief Operating Officer Amit Sinha said.

 

Dabur, Amazon set up ayurveda marketplace

download (7).jpgSource: ETRetail.com, Sept 22, 2017

NEW DELHI: Herbal-goods major Dabur has set up an online ayurveda marketplace with Amazon to strengthen its presence in the fast-growing space of ‘natural’ consumer products.

The online store will sell ayurveda brands, while offering consumers valuable insights into the medicinal properties of ayurvedic products for treating various ailments, a company official said.

Dabur will take the lead on the content, while rival ayurveda brands listed with Amazon will be part of the marketplace.

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