E-commerce Industry

JSW One raises Rs 205 cr from Japan's Mistui at Rs 2,750 cr valuation

B2B e-commerce firm of JSW Group will use the financing to expansion business

ONDC framing mechanism to ensure compliance of its rules: Official

Government-promoted Open Network for Digital Commerce (ONDC) is framing a mechanism to ensure compliance with its rules by entities involved in online retail trading, a senior official said on Thursday. The ONDC aims to promote an open platform for all aspects of e-commerce retail. It would help small retailers expand their business through e-commerce medium and reduce dominance of giants in the sector. "If we see that any player is not following our rules, we would take action. We are in the process of finalising things. Law of land should be followed. We are in the process of making that mechanism," Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv told reporters here. A set of rules on protection of personal information and setting up of grievance resolution mechanisms would be part of the comprehensive ONDC network policy. According to a consultation paper released by ONDC last year, one of the chapters of the policy on grievance ...

Swiggy CTO Dale Vaz steps down, Madhusudhan Rao named for his role

Karthik Gurumurthy, another senior executive of the firm, reportedly going on sabbatical

India's start-up story remains robust

The ecosystem would experience rationalisation of valuations in the current period, with funding expected to gradually increase from Q3 2023-24

Social commerce the way to tap growing online buyers from smaller towns

Indian e-commerce was worth $83 bn in 2022, will likely grow to $185 bn in 2026, propelled by deeper internet penetration and digital payments

India Post, Shiprocket partner to boost e-commerce delivery services

State-owned India Post has partnered with logistics aggregator Shiprocket to enhance its last-mile delivery services for various e-commerce products, an official statement said on Friday. The Memorandum of Understanding (MoU) was signed between India Post, Shiprocket and Pickrr at Dak Bhawan here. Under the collaboration, India Post has ensured IT integration with IT systems of Shiprocket. This integration has been done through various application programming interface (API) for tariff, booking, label generation, pickup and track & trace systems.

ONDC to support small retailers against large tech-based e-com firms: Goyal

The Open Network for Digital Commerce (ONDC), a unified payments interface-type protocol, will help small retailers survive the onslaught of large tech-based e-commerce companies, Commerce and Industry Minister Piyush Goyal said on Monday. ONDC is an initiative of the ministry to help small retailers expand their business and reduce the dominance of e-commerce giants. It aims to build an open, interoperable network on which buyers and sellers can transact without needing to be present on the same platform. It offers small retailers an opportunity to provide their services, and goods to buyers across the country through an e-commerce system, where buyers will be able to purchase the products, which are sold on any platform. "ONDC will help our small retail survive the onslaught of large tech-based e-commerce companies," Goyal said here at an event on the retail sector. He said that the effort is to encourage small companies, and startups to integrate into the e-commerce ...

98% of e-commerce companies looking forward to hiring in Q4FY23: TeamLease

Recruitment activity to go beyond blue- and white-collar staff, will embrace apprentices as well

Tata Digital to be the conglomerate's sole e-commerce venture: Report

Last week, the conglomerate increased Tata Digital's authorised capital to Rs 21,000 crore from Rs 20,000 crore and infused Rs 750 crore

E-commerce firm Flipkart forays into home product service business

E-commerce firm Flipkart on Thursday said it has entered into the home product services domain by launching services like repairs, maintenance, and installation for all appliances on its app. Leveraging network of its service arm Jeeves, the company had started pilot for home product services few months back. The services will now be available across 19,000 pin codes at the customers' doorstep, including the pick and drop services. With this, Flipkart will be competing with unicorn Urban Company and startups like Mr Right, OnSiteGo etc. "At Jeeves, we continuously strive to provide efficient, customer-focused end-to-end after sales services. We are conscious of the challenges customers face to avail reliable after sales services from unorganised and offline service providers and with the launch of home product services on the Flipkart app, customers will now have access to convenient, reliable, and cost-effective after sales services backed by service guarantee for home products," .

Bureau of Indian Standards to engage e-commerce players for self-regulation

India's e-commerce market is estimated at $50 billion in 2022, and is expected to grow to more than 25 per cent per annum to reach $150-170 billion by 2027

On Udaan network, local mobile accessory brands take wings in 'Bharat'

Udaan said its in-house expert team works closely with small manufacturers and trains them to run an e-commerce business

Snapdeal defers $152 mn IPO indefinitely citing poor market conditions

Development follows shelving of IPO plans by several notable firms such as Image Marketing (owner of wearable brand Boat), Droom Technology and PharmEasy

SoftBank-backed Cars24 eyes small towns to sell used cars in India

The company more than doubled its India revenue in 2022 to Rs 6,008 crore from Rs 2,776 crore in 2021

Flipkart, Polygon partner to speed up Web3 & Metaverse e-commerce use-cases

To set up Blockchain-e-commerce Centre of Excellence towards this end

Flipkart joins Polygon to launch Metaverse use cases in e-commerce space

During the festive sale, Flipkart also partnered with eDAO to launch a virtual shopping experience in the metaverse called Flipverse

Unicorn Meesho joins ONDC to connect hyperlocal sellers and customers

E-commerce firm's pilot will be launched in Bangalore and later rolled out in other locations over a few months

Fashion & beauty platform Nykaa announces CFO Arvind Agarwal's resignation

The FSN E-Commerce Ventures, that runs the fashion and beauty platform Nykaa, announced the resignation of its chief financial officer (CFO) Arvind Agarwal today on November 22

2022 e-commerce festival sales almost 2x of 2019: Redseer report

This is about 25 per cent year-over-year growth as compared to festive sale month of CY2021

Paytm faces another reckoning with lock-in period expiring this week

The biggest shareholders in One97 Communications Ltd., Paytm's parent company, are Alibaba Group Holding Ltd. and its fintech affiliate Ant Group Co., as well as Japan's SoftBank Group Corp