BUSINESS
Festive bonanza drives ONDC to new peak of 53,000 retail orders in a day
Monthly retail purchases on ONDC grew 500X between January and September to cross 600,000, while ride hailing transactions shot up 4,000X to around 2.7 million during the same period
BUSINESS
Chinese smartphone makers like Oppo or Vivo won’t buy our internal memory chips: Sahasra CEO
Sahasra is all set to begin commercial roll out of Made-in-India semiconductor chips under government’s SPECS plan this week at its Rs 350 crore plant in Bhiwadi
BUSINESS
No dearth of demand, more than 50% customers to raise festive purchases this year: Amazon India
Saurabh Srivastava, Vice President, Amazon India said that ads business is seeing robust growth in India and customers in non-metro areas are signing up for Prime subscriptions
BUSINESS
Paris, Amsterdam look to adopt Nandan Nilekani-backed Beckn protocol for interoperable mobility
Beckn, the protocol behind ONDC, is also being adapted by the Hof University in Germany to build a decentralised manufacturing network
BUSINESS
ONDC introduces bonuses of up to Rs 35 lakh per week for buyer-side apps ahead of festive season
ONDC’s revised incentive scheme raises the number of discounts available to a consumer to 5 per week from the earlier 2 per week, while minimum order value for incentives has been raised to Rs 250 per order
BUSINESS
MyGov CEO Akash Tripathi to take additional charge as India Semiconductor Mission head
MeitY joint secretary Sanket Bhondve to oversee content blocking orders under Section 69 of IT Act; joint secretary Sushil Pal to take charge of Rs 17,000-crore PLI scheme for IT hardware
BUSINESS
Small sellers to up e-commerce ad spend by 75% to cash in on festival season
Increasing ad revenues will drive better margins for ecommerce platforms during the festival sales, Redseer has said in a report
BUSINESS
Explained: Why Startup Inc is disappointed with angel tax changes
The government has now notified significant changes to the angel tax regime which it thinks will ease up the structure for start-ups. But, the industry is not convinced it will help.
BUSINESS
Peak XV, Temasek-backed Fi laying off 10% of staff to preserve cash for 2 years of runway
Last valued at $520 million in July 2022, the neobanking company registered revenues of Rs 67 lakh in FY20, Rs 1.27 crore in FY21 and Rs 25.6 crore in FY22, according to data from PrivateCircle
BUSINESS
Micron’s quick groundbreaking ceremony shows India has a semicon playbook: Rajeev Chandrasekhar
Chipmaking major Micron held a groundbreaking ceremony at the Sanand industrial area of Gujarat today to flag off the construction of the first phase of a $2.75 billion semiconductor packaging facility
BUSINESS
Micron begins construction of $2.75 billion semiconductor packaging plant in Sanand
The US chip-making giant has signed a contract with Tata Projects for the construction of the plant which will be built in a phased manner. Phase 1 will be operational by late 2024
BUSINESS
Govt is planning GPU cluster to boost Indian AI startups, says Rajeev Chandrasekhar
Speaking in Delhi a day before the groundbreaking of a semiconductor packaging and assembling plant by Micron in Gujarat's Sanand, Chandrasekhar said the project will serve as a signal to other chip companies and investors to take India more seriously in the global electronics value chain.
BUSINESS
ONDC's pilot of Ola, Uber challenger in Kolkata crosses 5,000 rides per day, prepares for launch
The pilot in Kolkata has already seen around 250,000 completed trips, 365,000 registered users, 18,600 registered driver partners, and around Rs 7 crore in driver earnings.
BUSINESS
Utsav Somani's Offline, a club for elite tech founders, raises $2 million in seed round
Founders with $5 million in revenue, or $5 million in funding raised or $10 million in a previous exit can apply to be a part of the ‘Cred for elite tech entrepreneurs’, says Club founder Utsav Somani
BUSINESS
ONDC doubles incentives for food orders on Asia Cup 2023 final day
Government-backed network says revision of incentive structure for F&B category is just for a day in order to A/B test customer response
BUSINESS
Festive sales to revive e-commerce demand, expand margins and grow 20% to Rs 90,000 crore: Redseer
Indian ecommerce sales expected to cross Rs 5 lakh crore for the first time in 2023
BUSINESS
Smartphone sales likely to remain subdued in festive season despite 5G push, Cricket World Cup
Offline retailers are taking market share from online marketplaces like Amazon and Flipkart by jumping onto the promotional deals bandwagon, say analysts
BUSINESS
G20 curbs ate into 15-20% orders from food delivery platforms in Delhi last weekend
Around 25,000 food and grocery delivery riders are estimated to have lost income during the G20 Summit days, according to industry executives.
BUSINESS
Former Intel czar’s AI plans for India include data centres within every 100 km radius
From how one of his memos led to ‘propaganda’ about chip packaging continuing Moore’s Law to the fate of soft-knowledge jobs in the post-AI era, former Intel chief architect Raja Koduri opens up in a conversation with Moneycontrol
BUSINESS
G20 Summit: Modi, Biden bilateral meeting likely to advance defence technology partnership
According to experts, the bilateral meeting is important as it follows Modi’s state visit to the US in June, where significant decisions were taken regarding partnership in critical and emerging technologies, such as the transfer of jet engine technology to India.
BUSINESS
Delhi G20 summit: Up to 25,000 food, grocery delivery workers to be impacted
Essential activities like postal and medical services will be allowed across the national capital, but commercial activities like e-commerce deliveries (except medicines) will be prohibited.
BUSINESS
ONDC launches new incentive scheme with more autonomy for buyer apps, support for small cities
ONDC’s latest incentive structure raises the maximum amount that can be claimed by buyer-side apps from Rs 25 lakh per week to Rs 40 lakh per week.
BUSINESS
Exporting neon can put India on the map of semiconductor supply chain: NSAB’s Anshuman Tripathi
From using neon as an entry point to the semiconductor value chain to building chips and designing them at secretive defence labs to power fighter jets, India’s national security apparatus has a plan as well
BUSINESS
Amazon plans to offer logistics network to sellers not using its platform
Through this move, the company is primarily aiming to onboard D2C brands across India. The brands will now be able to leverage Amazon's logistics and supply chain capabilities to serve customer orders from various sales channels
