E-commerce giant Amazon buys 49% stake in Kishore Biyani’s Future Coupons

Source: Business Standard, Aug 23, 2019

Bengaluru: After almost a year of negotiations, global e-commerce and technology giant Amazon.com is acquiring a 49 per cent stake in Future Coupons, the promoter entity of Future Retail. According to sources in the know, the size of the deal is between Rs 1,500 crore and Rs 2,000 crore.

Through this transaction, Amazon has managed to acquire around a 3.6 per cent stake in the Future group.

“We have been informed by Kishore Biyani on behalf of the existing shareholders forming part of the promoter group and Future Coupons Limited (promoters) that they have entered into a share subscription agreement and a shareholders’ agreement with Amazon.com NV Investment Holdings LLC (Amazon),” Future Retail said in a BSE filing on Thursday evening. Read the rest of this entry »

Amazon opens its largest campus building in Hyderabad to take on Walmart

Source: Business Standard, Aug 21, 2019

Amazon.com Inc. on Wednesday opened its largest campus building globally in the south Indian city of Hyderabad as it prepares for a furious expansion and battle with nemesis Walmart Inc. in one of the world’s fastest-growing retail markets.

The Seattle-headquartered company is making an ambitious push in India, the last major retail frontier still primarily reliant on small-scale neighborhood and mom-and-pop stores. “E-commerce is so small in India relative to the total consumption, less than 3%,” said Amit Agarwal, Amazon’s country manager for India.

The largely untapped country is critical to the global domination plans of both Amazon and Walmart, the latter of which spent $16 billion last year to buy India’s biggest startup, retailer Flipkart Online Services Pvt. Amazon founder Jeff Bezos has so far pledged $5.5 billion for its India operations. Read the rest of this entry »

Flipkart partners NSDC to train supply chain workforce of 20,000

Source: LiveMint.com, Aug 11, 2019

New Delhi: Walmart-owned Flipkart on Sunday said it has partnered with National Skill Development Corporation’s Logistics Sector Skill Council (LSC) to train 20,000 of its delivery executives across the country.

As part of the partnership, the trained supply chain workforce will be certified in all aspects of product delivery and customer experience.”This is the first ever partnership between an e-commerce company and LSC…Flipkart envisions to have a robust training programme along with LSC for its additional 30,000-strong supply chain workforce,” Flipkart said in a statement.

As part of the training programme, Flipkart in conjunction with LSC is conducting eight-hour training modules for its delivery executives to impart them with the knowledge on the finer nuances of delivery mechanism. This includes preparing for delivery, understanding local transportation laws and regulations and getting knowledge of end-to-end supply chain. The training started in May and more than 4,000 people have been trained so far. Read the rest of this entry »

Govt unveils draft e-commerce norms

Source: The Hindu Business Line, Aug 05, 2019

New Delhi: To protect consumers’ interest, the Centre has proposed guidelines for e-commerce firms that entail a 14-day deadline to effect refund request, mandate e-tailers to display details of sellers supplying goods and services on their websites and moot the procedure to resolve consumer complaints.

The consumer affairs ministry has sought views of stakeholders on the draft guidelines on e-commerce by September 16.

Meanwhile, the government is planning to come out with a national e-commerce policy to facilitate achieving holistic growth of the sector. Read the rest of this entry »

E-commerce companies focus on small towns to fuel job opportunities

Source: LiveMint.com, Aug 04, 2019

NEW DELHI: E-commerce companies are betting big on small towns to explore the opportunities offered by a large customer base and are expanding their talent pool in these cities to fuel growth, experts say.

They expect recruitment to go up by 15% in this space.

Small towns are becoming the driving force behind e-commerce growth in the country as online retailers are targeting last mile connectivity and are increasingly focusing on getting the small-town Indian customer to shop online.

Experts said in order to deal with the rising demands of consumers, e-commerce companies have been setting up warehouses in small towns and have also been expanding their talent base in these towns. Read the rest of this entry »

Govt e-commerce platform has more than twice the number of Flipkart sellers

Source: Business Standard, Aug 02, 2019

New Delhi: The Centre’s e-commerce platform, government e-marketplace (GeM), was launched in 2016 with an ambitious goal to become the ‘Flipkart’ — then the byword for large-scale e-commerce in India — of government procurement. Three years and Rs 28,710 crore worth of transactions later, it has more than double the number of sellers than Flipkart.

According to official statistics, the portal, under the commerce and industry ministry, has 259,000 sellers and service providers combined. Read the rest of this entry »

Government plans e-commerce boost for 200 rural products

Source: IBEF.org, Jul 30, 2019

The rural development ministry has drawn up a rundown of 200 items that will be sold on e-commerce platforms, including the Government e-Marketplace (GeM). The ministry has held hands with Tata Trusts to set up a not-for-profit organization under Section 25 of Companies Act to give professional support to rural artisans to sell their items globally.

As per senior government authority, “they are setting up bunches or producer companies by acquiring individuals making similar items”. Read the rest of this entry »