Chinese e-commerce firm Alibaba Group Holding Ltd has acquired Chinese chip maker Hangzhou C-SKY Microsystems to underpin its cloud-based "internet of things" (IoT) business, an Alibaba spokeswoman said on Friday.
The e-retail industry led by the likes of Amazon and Flipkart has brought about a major disruption in the domestic cargo sector with an expected contribution of about Rs 5,000 crore this fiscal, of which the air cargo segment would garner around Rs 1,000 crore, a report said.
Stating that there is a level-playing field imbalance happening due to improper discounts, Future Retail Joint Managing Director Rakesh Biyani said the government policy states that e-commerce players should not be allowed to participate in pricing and should not invest money in discounting.
The company's various e-commerce platforms like Tmall and Taobao, which covers over 500 million consumers, offered about 14.05 million jobs to online retailers in 2017, a report from the Renmin University of China said.
The Retailers Association of India in a letter to Union Minister Suresh Prabhu has said that e-commerce marketplaces have found a way to circumvent restrictions placed on their operations.
It presently has its own delivery network in Assam, Tripura and Meghalaya, Amazon India's Vice President, Customer Fulfillment, Akhil Saxena said at a press meet here today.
Flipkart made the move in a bid to seek better valuation while it revived talks with American retail giant Walmart for a potential large investment.
The SoftBank-backed company, which is locked in an intense battle for market leadership in India against US-based Amazon, claimed it had 51 percent share of the online market in the kids fashion category.
The Confederation of All India Traders (CAIT) took a strong view against e-commerce platforms for indulging in "deep discounting and loss funding thereby violating FDI Policy 2016 of the Union Government".
Homegrown e-commerce giant Flipkart has more 700 open positions in areas of data science and analytics among other specialisations
A meeting was held today with representatives of companies like Flipkart, Snapdeal, Wipro, and industry bodies Nasscom, CII and FICCI as well as officials from RBI and NPCI to discuss various issues, according to sources.
Alibaba, which already owns 83 per cent of Lazada with two investments totalling USD 2 billion as of June last year, has been trying to acquire both online and offline assets to further bolster its business.
Tri Huynh, a former director of business development, accused Walmart of having betrayed the principles of integrity and honesty espoused by founder Sam Walton in its push to show "meteoric growth" in e-commerce.
Internet retailers and brick-and-mortar chains in Mexico are investing heavily in e-commerce as the sector gains in popularity, although it is still a small fraction of total retail sales.
Flipkart is widening its selection of brands & goods and ensuring faster deliveries to customers.
The world's largest retailer, officially known as Wal-Mart Stores Inc , said on Thursday the service will launch in the latter half of 2018.
"The company has incorporated a wholly-owned subsidiary Welspun Nexgen Inc registered with the state of Delaware, US having paid up capital of USD 4.25 million to make investment in e-commerce companies," Welspun India said in a BSE filing.
Pai was responding to a question as to what online market places like Flipkart and others need to do to address the selling of fake products on their platforms.
A study conducted by Assocham and Deloitte pointed out how increasing mobile and internet penetration, push into new international markets by e-businesses are the major drivers of the unprecedented growth in e-commerce.
Indiamart's existing investors include Intel Capital, Amadeus Capital, WestBridge Capital and Quona Capital.
The portal, which was launched in February, is voucher based travel portal specialising providing luxury hotel to its customers.
While the 'Walmart' branding can be seen on its stores even today, the American retail giant has said that the company will change its name officially.
GM's Marketplace technology, developed in collaboration with International Business Machines will be uploaded automatically to about 1.9 million model-year 2017 and later vehicles starting immediately, with about 4 million vehicles across the Chevrolet, Buick, GMC and Cadillac brands equipped with the capability in the United States by the end of 2018, GM said.
According to the People's Bank of China, Chinese banks dealt with 8.6 billion payments from mobile services in the second quarter of this year, up 40.5 per cent from a year ago.
DHL chief executive officer (CEO) Ken Allen said that he sees a strong growth in cargo movements between India and China as the two countries continue to expand bilateral trade.