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ED Said to Summon Amazon, Flipkart Executives as Regulatory Scrutiny Grows
The planned action signals growing regulatory scrutiny of Walmart-owned Flipkart and Amazon when their sales are rapidly growing in India's $70 billion (roughly Rs. 5,93,614 crore) e-commerce market. An Indian antitrust investigation also found the two companies breached laws by favouring select sellers,
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Government Against E-Retailers' Predatory Pricing, Restriction of Choice: Union Minister Piyush Goyal
The government is against predatory pricing and methods used by e-retailers to cheat customers and restrict their choice, Commerce and Industry Minister Piyush Goyal said on Tuesday. Goyal said the government is not concerned about flash sales on online platforms
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PhonePe Launches Support for Cross-Border UPI Payments in Select Countries: Report
PhonePe, Indian digital payments and financial technology company, has launched support for cross-border UPI payments, under UPI International. The apps' users can now use their Indian bank accounts to pay at merchant outlets in the UAE, Singapore, Mauritius, Nepal and Bhutan, The Bhutan Live reported. Earlier, Indian users had to use either foreig...
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Mukesh Ambani Brings 7-Eleven Stores To India, First One In Mumbai
Mukesh Ambani, Asia's richest man, will bring 7-Eleven Inc.'s convenience stores to India, adding to his burgeoning retail empire in the world's only billion-people-plus consumer market that's open to foreign firms.
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Delhi Excise Policy: Top Court Rejects Pleas For Extension Of 2 Licence Categories
The Supreme Court Friday dismissed the pleas seeking extension of two categories of licences, which pertain to retail sale of Indian and foreign liquor in private sector in Delhi, till November 16.
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In Huge Reliance vs Amazon Clash, Supreme Court Verdict Today: 10 Points
Amazon's challenge against Future Group's $3.4 billion deal with Reliance Industries will see a Supreme Court ruling today, concluding one of the most bitterly fought battles in the world's only billion-plus retail market open to foreign competition.
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Amazon Said to Call on India Not to Alter E-Commerce Investment Rules
Amazon asked the Indian government not to change e-commerce foreign investment rules until investigations into its business practices had been concluded, two sources familiar with the discussions said.
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H&M, Nike Targeted Amid Criticism Against Labour Conditions In China
More foreign retail brands were criticised on Chinese social media on Thursday after Beijing's propaganda offensive against Sweden's H&M sparked by the company's expression of concern about labour conditions in Xinjiang.
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How Amazon Is Fighting Door to Door to Beat Mukesh Ambani’s Reliance
The Supreme Court will soon decide on its bid to scuttle the $3.4 billion (roughly Rs. 24,630 crore) sale of debt-laden retailer Future Group’s assets to Amazon’s archrival Reliance. But the rivalry between Amazon’s Jeff Bezos and Reliance’s Mukesh Ambani won’t end with a verdict in the Future Group case.
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Amazon India Responds to Report on Secret Strategy to Dodge Regulators as Retailer Group Calls for Ban
A leading group of Indian retailers on Wednesday urged the government to ban the local operations of Amazon, after a report said that the US e-commerce giant has for years given preferential treatment to a small group of sellers on its India platform and used them to circumvent the country's strict foreign investment regulations.
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Amazon-Ambani Spat Tests India's Allure For Foreign Investors
The tussle between two of the world's richest men -- Jeff Bezos and Mukesh Ambani -- to dominate India's estimated $1 trillion retail market is testing foreign investor patience with flip-flopping court rulings.
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Amazon Investigated By Enforcement Directorate For Alleged FDI Violation
The Enforcement Directorate is investigating retail giant Amazon for alleged violations of the foreign exchange law in its deal with Future Retail. The agency has filed a case after the Delhi High Court recently made observations about the deal while hearing Amazon's challenge to the acquisition of the Kishore Biyani-led Future Retail by the Relian...
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Government Assured Strict Changes in Foreign Investment Rules for E-Commerce, Trader Group Says
A trader group representing millions of brick-and-mortar retailers said it has received government assurances that stringent changes will be made to foreign investment rules for e-commerce, a move that could hit Amazon.
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"I Have To Ask Big Brother In America?" Retailer In Reliance vs Amazon
A battle between Amazon.com Inc. and Reliance Industries Ltd. to dominate India's $1 trillion consumer market is stoking nationalist rhetoric in a courtroom and outside, as the two companies tussle over the future of a distressed local retailer.
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Japan's Factory, Retail Sectors Slump As Pandemic Hits Auto Sector
Japan's factory output slid faster-than-expected and retail sales tumbled the most in more than two decades in April, as the coronavirus pandemic wrecked both foreign and domestic demand for the country's autos and other manufactured goods.
-
ED Said to Summon Amazon, Flipkart Executives as Regulatory Scrutiny Grows
The planned action signals growing regulatory scrutiny of Walmart-owned Flipkart and Amazon when their sales are rapidly growing in India's $70 billion (roughly Rs. 5,93,614 crore) e-commerce market. An Indian antitrust investigation also found the two companies breached laws by favouring select sellers,
-
Government Against E-Retailers' Predatory Pricing, Restriction of Choice: Union Minister Piyush Goyal
The government is against predatory pricing and methods used by e-retailers to cheat customers and restrict their choice, Commerce and Industry Minister Piyush Goyal said on Tuesday. Goyal said the government is not concerned about flash sales on online platforms
-
PhonePe Launches Support for Cross-Border UPI Payments in Select Countries: Report
PhonePe, Indian digital payments and financial technology company, has launched support for cross-border UPI payments, under UPI International. The apps' users can now use their Indian bank accounts to pay at merchant outlets in the UAE, Singapore, Mauritius, Nepal and Bhutan, The Bhutan Live reported. Earlier, Indian users had to use either foreig...
-
Mukesh Ambani Brings 7-Eleven Stores To India, First One In Mumbai
Mukesh Ambani, Asia's richest man, will bring 7-Eleven Inc.'s convenience stores to India, adding to his burgeoning retail empire in the world's only billion-people-plus consumer market that's open to foreign firms.
-
Delhi Excise Policy: Top Court Rejects Pleas For Extension Of 2 Licence Categories
The Supreme Court Friday dismissed the pleas seeking extension of two categories of licences, which pertain to retail sale of Indian and foreign liquor in private sector in Delhi, till November 16.
-
In Huge Reliance vs Amazon Clash, Supreme Court Verdict Today: 10 Points
Amazon's challenge against Future Group's $3.4 billion deal with Reliance Industries will see a Supreme Court ruling today, concluding one of the most bitterly fought battles in the world's only billion-plus retail market open to foreign competition.
-
Amazon Said to Call on India Not to Alter E-Commerce Investment Rules
Amazon asked the Indian government not to change e-commerce foreign investment rules until investigations into its business practices had been concluded, two sources familiar with the discussions said.
-
H&M, Nike Targeted Amid Criticism Against Labour Conditions In China
More foreign retail brands were criticised on Chinese social media on Thursday after Beijing's propaganda offensive against Sweden's H&M sparked by the company's expression of concern about labour conditions in Xinjiang.
-
How Amazon Is Fighting Door to Door to Beat Mukesh Ambani’s Reliance
The Supreme Court will soon decide on its bid to scuttle the $3.4 billion (roughly Rs. 24,630 crore) sale of debt-laden retailer Future Group’s assets to Amazon’s archrival Reliance. But the rivalry between Amazon’s Jeff Bezos and Reliance’s Mukesh Ambani won’t end with a verdict in the Future Group case.
-
Amazon India Responds to Report on Secret Strategy to Dodge Regulators as Retailer Group Calls for Ban
A leading group of Indian retailers on Wednesday urged the government to ban the local operations of Amazon, after a report said that the US e-commerce giant has for years given preferential treatment to a small group of sellers on its India platform and used them to circumvent the country's strict foreign investment regulations.
-
Amazon-Ambani Spat Tests India's Allure For Foreign Investors
The tussle between two of the world's richest men -- Jeff Bezos and Mukesh Ambani -- to dominate India's estimated $1 trillion retail market is testing foreign investor patience with flip-flopping court rulings.
-
Amazon Investigated By Enforcement Directorate For Alleged FDI Violation
The Enforcement Directorate is investigating retail giant Amazon for alleged violations of the foreign exchange law in its deal with Future Retail. The agency has filed a case after the Delhi High Court recently made observations about the deal while hearing Amazon's challenge to the acquisition of the Kishore Biyani-led Future Retail by the Relian...
-
Government Assured Strict Changes in Foreign Investment Rules for E-Commerce, Trader Group Says
A trader group representing millions of brick-and-mortar retailers said it has received government assurances that stringent changes will be made to foreign investment rules for e-commerce, a move that could hit Amazon.
-
"I Have To Ask Big Brother In America?" Retailer In Reliance vs Amazon
A battle between Amazon.com Inc. and Reliance Industries Ltd. to dominate India's $1 trillion consumer market is stoking nationalist rhetoric in a courtroom and outside, as the two companies tussle over the future of a distressed local retailer.
-
Japan's Factory, Retail Sectors Slump As Pandemic Hits Auto Sector
Japan's factory output slid faster-than-expected and retail sales tumbled the most in more than two decades in April, as the coronavirus pandemic wrecked both foreign and domestic demand for the country's autos and other manufactured goods.
