Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

With <keyword id="19899402" type="General" weightage="20" keywordseo="digital" source="keywords">digital</keyword> adoption fast gaining currency, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is likely to see <keyword id="19992513" type="General" weightage="20" keywordseo="retail" source="keywords">retail</keyword> <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> double to USD 7 trillion by 2030 from current levels, a study by Kearney and <keyword id="19942875" type="General" weightage="20" keywordseo="Amazon-Pay" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon Pay" meta.hostid="153" meta.entityid="Amazon Pay">Amazon Pay</keyword> said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in <keyword id="21056201" type="General" weightage="20" keywordseo="online-purchases" source="keywords">online purchases</keyword> has potentially led to a permanent shift in consumer behaviours, fuelling offline adoption as well. While 90 per cent of the respondents of the survey preferred digital payments when making online purchases, affluent consumers lead the way with the highest Degree of Digital Payment Usage (DDPU), tending to use various modes of digital payment for 80 per cent of their transactions. "<keyword id="19955338" type="General" weightage="20" keywordseo="millennials" source="keywords">Millennials</keyword> and Gen X are leading in the adoption of all types of digital payment instruments," it said. "Men and women both use digital payments in about 72 per cent of their transactions, indicating gender parity." The research was based on an online survey of over 6,000 consumers along with more than 1,000 merchants through offline and online methods across 120 cities with representation from various regions, income groups, city categories, age brackets and genders. India has seen a surge in <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword>, with the market valued at USD 75 billion to USD 80 billion in 2022 and expected to grow at a 21 per cent CAGR until 2030. "In line with India's digital journey, retail digital payments have grown dramatically over the past five years - from USD 300 billion in FY18 to USD 3.6 trillion in FY24. By FY30, they are likely to double to USD 7 trillion," the report said. The Unified Payments Interface (<keyword id="19900911" type="General" weightage="100" keywordseo="UPI" source="keywords">UPI</keyword>) has been a key driver of this growth, demonstrating a CAGR of 138 per cent in its volumes during FY18-24. Other instruments such as cards and digital wallets are also gaining in popularity, contributing 10 per cent of digital transaction value today. "With such dynamic developments, it is no wonder that India is a global frontrunner in the digital payment landscape, accounting for a stellar 46 per cent of the global digital transaction volumes in 2022," it said. Digital payments have penetrated small towns, with respondents in these areas highlighting that 65 per cent of their transactions are digital, while respondents in larger cities cited this ratio to be 75 per cent. "There is a strong correlation between a city's average DDPU and its retail potential, as measured by the Kearney India Retail Index, with the top six metros displaying both high DDPU and high retail potential," the report said. DDPU surpasses retail potential in some cities such as Lucknow, Patna, Bhopal, Jaipur, Bhubaneswar, Indore, Ahmedabad and Pune, which have a high DDPU nearly matching that of larger metropolitan cities despite having a lower retail potential than the top six metros. The report said co-branded credit cards are gaining momentum. "Emerging methods such as buy now, pay later (BNPL), wearable payments and voice assistant-based payments are also starting to make inroads." Digital modes of payment constitute around 69 per cent of the total transaction volumes for the Indian merchants that were surveyed. Even street vendors such as paan shops, fruit and flower sellers, food stalls, and kirana stores are joining the digital payment brigade. "Challenges for merchant adoption mirror consumer concerns, emphasizing issues of financial fraud, limited connectivity and trust," it said. The report said the next wave of growth in digital payments will be fueled by increasing penetration in segments with lower DDPU, such as consumers in lower-income groups and smaller towns, along with enhancing the value of spending via digital modes of payment in the higher DDPU segments by addressing their concerns. "All key stakeholders across the digital payments' ecosystem, including payment providers, the government, and value-added services players, will need to play a part in expanding digital payment adoption," it said. The focus areas should be empowering communities with financial education by launching target programmes to boost awareness of digital payments and new methods such as UPI Lite and UPI Lite X, especially for aspiring consumer segments, women in small towns, and street commerce merchants, to encourage higher adoption. Also, there is a need to create user-friendly consumer journeys by streamlining documentation and know-your-customer (<keyword id="19910870" type="General" weightage="20" keywordseo="kyc" source="keywords">KYC</keyword>) processes, optimising user interfaces, and establishing responsive customer complaint resolution mechanisms, it said adding also there is a need to enhance digital infrastructure by addressing systems and network issues and exploring innovations such as UPI Lite X for areas with limited internet. Also, the risk of fraud has to be minimised and access to credit-based payment methods expanded by using alternate data for underwriting risk, developing innovative credit products and promoting credit education for financial health. "These areas can help India overcome challenges in the digital payment ecosystem by fostering a more inclusive, secure, and user-friendly environment, thereby enhancing the adoption of digital payments among consumers and merchants in India," it added.

India to see retail digital payments to double to USD 7 tn by 2030: Report

<ul><li>The <keyword id="291131" type="General" weightage="20" keywordseo="aws" source="Orion">AWS</keyword> Public Sector Symposium talked about cloud computing in public sectors</li><li>It featured important announcements including collaboration with <keyword id="6358064" type="General" weightage="20" keywordseo="isro" source="Orion">ISRO</keyword></li><li>AWS has also partnered with CCMB</li></ul> Amazon Web Services Public Sector Symposium 2023 that took place in September saw a series of announcements by the Cloud computing behemoth. One of the largest service providers in the world, AWS has been actively collaborating in the public sector space in India. The event last month reiterated the established partnerships along with a string of new announcements. But before that let’s understand what is cloud computing? Cloud Computing for laymen Imagine enjoying the benefits of having a high end personal computer that can handle Terabytes of data in seconds. Now make it intangible, and completely based on a server network. That essentially is cloud computing. It is the practice of using a network of remote servers hosted on the internet to store, manage, and process data, rather than a local server or a personal computer. Amazon Web Services does just that, but on a massive scale, hence the collaborations we are seeing in the public sector. AWS &amp; ISRO AWS has announced a collaboration with ISRO and Indian National Space Promotion and Authorization Center (IN-SPACe) to accelerate India’s space-tech growth. The collaboration will see space start-ups get access to new age cloud computing services. The organizations will work together to train students in AI, ML, analytics and security. AWS &amp; Center for Cellular and Molecular Biology CCMB is also using AWS cloud computing services to manage its work. The core focus of this collaboration is to accelerate the growth of genome sequencing research projects. According to reports the progress is significant with the reduction of research analysis by 98%. AWS &amp; AI In a collaboration with ConveGenius AWS has also developed a chatbot dubbed the SwiftChat. It is a conversational artificial intelligence (AI) chatbot platform for government schools and low-free private schools built on AWS. We will be coming out with a video with it very soon.

Amazon Web Services Public Sector Symposium 2023 - Cloud Computing For the Future

New Delhi, In a significant development related to war between e-commerce giants and traders of India, the Union Government has directed the Enforcement Directorate and Reserve <keyword id="6355303" type="DOMAIN" weightage="20" keywordseo="bank-of-india">Bank of India</keyword> to take necessary action against <keyword id="18635" type="COMPANY" weightage="20" keywordseo="Amazon">Amazon</keyword> and Walmart-owned-Flipkart. The Centre has taken strong cognizance of various complaints made by the Confederation of All India Traders (CAIT) for <keyword id="2621917" type="PERSON" weightage="20" keywordseo="blatant-violation">blatant violation</keyword> of <keyword id="35066" type="ORGANIZATION" weightage="20" keywordseo="fdi-policy">FDI Policy</keyword> and Foreign Exchange Management Act, 1999 (FEMA) by these companies. CAIT National President B.C. Bhartia and Secretary General Praveen Khandelwal informed that on several complaints made by the CAIT to Union <keyword id="84" type="ORGANIZATION" weightage="20" keywordseo="Commerce">Commerce</keyword> Minister Piyush Goyal in the recent past against Amazon &amp; Walmart-owned-<keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, the Department of Promotion of Industries and Internal Trade (DPIIT) of the Ministry of Commerce in its letter issued on December has asked both Enforcement Directorate and Reserve Bank of India to take necessary action against Amazon and Flipkart. Bhartia and Khandelwal said that in its communication to ED and RBI, the DPIIT has forwarded four complaints of CAIT including violation of FDI policy in deal between Flipkart and Aditya Birla Group, violation of FDI policy related to FDI in manufacturing which is being used for Multi Brand Retailing by various e-commerce companies, violation of FEMA and its rules by Amazon and blatant violation of FEMA and FDI Policy by Amazon and Flipkart and exploitation of loopholes by them. CAIT said that traders across Country will observe Year 2021 as "Bhartiya Vyapaar Samman Varsh" under the aegis of CAIT and all efforts will be made to clean the e-commerce landscape of India and an era of manipulations, mal-practices and exploitation will come to end and the CAIT will promote and encourage traders across Country to adopt digital commerce and digital payments as new instruments to widen the net of business in India. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-tata-steel-vedanta-adani-green-tata-motors-maruti-mm-dhfl-v-mart-indian-bank-and-others/articleshow/80038635.cms">Top stocks to watch — Tata Steel, Vedanta, Adani Green, Tata Motors, Maruti, M&amp;M, DHFL, V-Mart, Indian Bank, and others</a> <a href="https://www.businessinsider.in/tech/mobile/news/checkout-the-list-of-upcoming-new-mobiles-in-january-2021-with-expected-price/articleshow/80039794.cms">Upcoming smartphones in India in January 2021</a> <a href="https://www.businessinsider.in/international/news/ten-of-the-most-outrageous-predictions-for-2021-according-to-saxo-bank/slidelist/80040045.cms">From Amazon buying Cyprus to Germany bailing out France — here are ten of the most ‘outrageous’ predictions for 2021</a> <a href="https://www.businessinsider.in/business/startups/news/india-edtech-in-charts-how-the-shi[%E2%80%A6]es-of-byjus-unacademy-and-others/articleshow/80040270.cms">India’s edtech in charts – How the shift to online learning meant money, valuation and users for the likes of BYJU’S, Unacademy, and others</a>

Amazon and Flipkart accused of violating FDI policy — Indian government asks RBI and ED to take action

From home sales and jewellery to power consumption, these are all the sectors that are back to pre-pandemic levels

<ul><li>The Ministry of Electronics and <keyword id="6363148" type="General" weightage="80" keywordseo="information-technology" source="Orion">Information Technology</keyword> (MeitY) has released proposed amendments to the IT Rules.</li><li>The amendments include the establishment of a Grievance Appellate Committee.</li><li>The committee will be appointed by and report directly to the IT ministry.</li></ul>The Ministry for Electronics and Information Technology (MeitY) has released proposed amendments to Part I and II of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules 2021, also known as IT Rules. The proposed amendments include the setting up of a grievance appellate committee that will be established by the government and will directly report to it. <cmsannotation type="cmsannotation" annotationid="Grievance redressal mechanism" comment="subhead" text="Grievance redressal mechanism">Grievance redressal mechanism</cmsannotation> The proposals mandate social media platforms to establish a grievance redressal mechanism that will allow users to request for removal of content or a user or complain against the removal of content or blocking of any user on their platform. The grievance officer will be required to acknowledge a complaint filed by a user within 24 hours and dispose of the complaint within 15 days from the receipt of the complaint. The grievance officer will also be required to acknowledge and perform directions given by the central government, the courts or any competent authority. If the grievance officer fails to perform this or performs this in an unsatisfactory manner, the user or the authority can approach the proposed Grievance Appellate Committee. <cmsannotation type="cmsannotation" annotationid="Grievance Appellate Committee" comment="subhead" text="Grievance Appellate Committee">Grievance Appellate Committee</cmsannotation> According to the proposed amendment, the government will constitute one or more Grievance Appellate Committees that will include a chairperson and other members appointed by the government. Any person aggrieved by an order passed by the grievance officer will be able to appeal to the committee within 30 days. The Grievance Appellate Committee will dispose of the appeal within 30 days from the receipt of the appeal and the social media platforms will be required to comply with its orders. In a sense, this offers the government complete control over the content and users on social media platforms as the committee members will be appointed and answer to the government. This will make it easier for the government to remove content or users it does not like and will also prevent the removal of content it wants to propagate. <cmsannotation type="cmsannotation" annotationid="Government asks for comments and recommendations" comment="subhead" text="Government asks for comments and recommendations">Government asks for comments and recommendations</cmsannotation> In addition to the proposals, the government has also sought comments and recommendations from the public. The last date for submission of comments is June 22, 2022. <cmsannotation type="cmsannotation" annotationid="How to submit comments or recommendations to the government" comment="subhead" text="How to submit comments or recommendations to the government">How to submit comments or recommendations to the government</cmsannotation> To submit your comments to the IT ministry, you can send an email till June 22 to the following email addresses – - <a href="mailto:dhawal@meity.gov.in">dhawal@meity.gov.in</a> or <a href="mailto:notan.roy@meity.gov.in">notan.roy@meity.gov.in</a>. The comments are required to be sent in the format mentioned <a href="https://www.meity.gov.in/writereaddata/files/MeitY%20NOTICE%20dated%2001-06-2022-for%20public%20comments%20on%20proposed%20amendment%20in%20IT%20Rules%2C%202021.pdf">here</a>. <cmsannotation type="cmsannotation" annotationid="Not the first controversial decision in recent times" comment="subhead" text="Not the first controversial decision in recent times">Not the first controversial decision in recent times</cmsannotation> This isn’t the first controversial decision from the IT ministry in recent times. Earlier this year, the Indian Computer Emergency Response Team (CERT-In) passed <a href="https://www.businessinsider.in/business/telecom/news/what-is-the-impact-of-new-vpn-guidelines-on-users-and-vpn-providers/articleshow/91468069.cms">guidelines</a> that mandate companies offering virtual private network (VPN) services in the country to record and store the details of their users. This has resulted in ExpressVPN <a href="https://www.businessinsider.in/tech/news/new-vpn-rules-expressvpn-removes-its-servers-from-india-other-companies-may-pull-out-too/articleshow/91959389.cms">removing its servers</a> from the country and more companies are expected to follow its footsteps. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/what-is-the-impact-of-new-vpn-guidelines-on-users-and-vpn-providers/articleshow/91468069.cms">Indian government's VPN guidelines will impact over 270 million users as VPN providers have no option but to leave the country</a> <a href="https://www.businessinsider.in/business/telecom/news/5g-spectrum-auctions-in-india-may-get-delayed-once-again/articleshow/91944509.cms">5G spectrum auctions in India may get delayed once again</a> <a href="https://www.businessinsider.in/business/ecommerce/news/indias-competition-watchdog-is-probing-deals-between-amazon-flipkart-and-their-preferred-sellers/articleshow/91909512.cms">India’s competition watchdog is probing deals between Amazon, Flipkart and their preferred sellers</a>

The Indian government may soon have more control over how social media companies moderate content and block users

Bengaluru, <keyword id="2706733" type="COMPANY" weightage="20" keywordseo="amazon-alexa">Amazon Alexa</keyword> turned three in India on Monday and the <keyword id="10548297" type="UNKNOWN" weightage="20" keywordseo="customer-interactions">customer interactions</keyword> with the virtual assistant increased 67 per cent in 2020. The customers said "<keyword id="216947" type="ENTERTAINMENT" weightage="20" keywordseo="I-Love-You">I love you</keyword>" to Alexa 19,000 times a day, up a massive 1,200 per cent from 2019, according to the company. More customers in non-metro cities brought home an Echo device, accounting for over 50 per cent of India's Alexa users. "Be it the Echo device in the living room, 100+ Alexa built-in devices or your favourite smartphone, it is heart-warming to see users across the length and breadth of the country across age groups find value and adopt Alexa in their daily lives", said Puneesh Kumar, Country Leader for Alexa, <keyword id="6354743" type="COMPANY" weightage="20" keywordseo="Amazon-India">Amazon India</keyword>. "For us, it is always Day 1 as we learn from our customers and continue to add new features, improving Alexa's understanding on topics that matter to users locally," he said in a statement. Customers from over 85 per cent pin codes purchased Echo smart speakers in 2020. On Alexa's third anniversary, Amazon said it will make the digital assistant affordable, more accessible for customers looking to welcome the voice service in their homes. "Starting 12 midnight on February 15, for 24 hours, sellers on Amazon.in will have blockbuster offers on best-selling Echo Devices, attractive smart home bundles and more. Customers can also shop from a curation of smart-home accessories from some of India's biggest consumer electronic brands," the company announced. Leading smartphone brands in India now offer Alexa built-in phones. Currently, there are six smartphones including Redmi Note 9 Pro and OnePlus Nord that offer built-in Alexa.. In 2020, Alexa debuted on the Amazon Shopping App (Android only) and responded to over 5.8 Lakh requests every day to search for products, best deals, and music. Last year, customers in India asked Alexa to control a smart home gadget 8.6 lakh times every day, preferring voice to control their smart home gadgets. Led by <keyword id="2586591" type="COMPANY" weightage="20" keywordseo="amazon-echo">Amazon Echo</keyword> devices, the shipments of smart home speakers were expected to cross 7.5 lakh units in India by the end of 2020, which is an all-time high, according to market research firm techARC. The market is primarily led by Amazon Echo Smart Speakers, which had a massive 95.9 per cent cumulative market share for the January-September period. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/heres-why-you-arent-being-able-to-apply-for-brookfield-reit-ipo-through-zerodha-groww-angel-broking-and-other-stockbroking-apps/articleshow/80686457.cms">Here's why you aren't being able to apply for Brookfield REIT IPO through Zerodha, Groww and other stockbroking apps</a> <a href="https://www.businessinsider.in/stock-market/news/analysts-explain-why-indigo-paints-shares-fell-with-a-thud-just-like-burger-king-and-mrs-bectors-and-what-to-do-with-it-now/articleshow/80704864.cms">Indigo Paints joins the league of Burger King and Bector's — frenzied IPOs that fizzled out</a> <a href="https://www.businessinsider.in/tech/news/the-india-stack-that-bill-gates-and-sundar-pichai-so-love-is-set-to-get-much-bigger-thanks-to-the-indian-governments-new-blockchain-strategy/articleshow/80718403.cms">The India stack that Bill Gates and Sundar Pichai so love is set to get much bigger – thanks to the Indian government’s new blockchain strategy</a>

Indians said ‘I Love You' to Amazon Alexa 19,000  times a day in 2020

<ul><li>The Indian government is reportedly planning to revisit plans to crack down on the huge discounts and cashback offers offered by e-commerce companies </li><li>A proposed policy will include online retail giants as well as smaller e-retailers like also food delivery apps. </li><li>The plan is aimed at discouraging ‘predatory pricing’ that impacts traditional retailers. </li></ul>Concerned by ‘predatory pricing,’ the Indian government is reportedly considering a policy to crack down on the strategy of ‘deep discounting’ prevalent among the country’s e-commerce players, the Times of India <a href="https://timesofindia.indiatimes.com/business/india-business/centre-revives-plan-to-check-e-tailers-discounts-freebies/articleshow/67120238.cms">reported</a>. The proposed regulation will regulate the pricing strategy of e-commerce giants like <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>, <keyword id="4225623" type="PERSON" weightage="20" keywordseo="Paytm-Mall">Paytm Mall</keyword> but also cover food delivery apps. According to the plan, the policy is aimed at keeping a close check on ‘predatory pricing’ that could potentially disrupt traditional retailers. Online retailers in India have been in stiff competition and many have chosen to offer aggressive steep discounts as a way to attract customers. The e-commerce market is expected to grow to $200 billion in the coming ten years. However, government concerns may be overblown as e-commerce penetration in India is somewhat <a href="https://www.consultancy.in/news/1182/indias-e-commerce-industry-will-break-through-100-barrier-by-2020">limited </a>compared to other markets like China and the US. As of now, the Indian government doesn’t regulate e-commerce companies. Earlier this year, the government mooted a a sunset clause to regulate the pricing strategy of ‘deep discounts’ but the draft wasn’t transformed into policy, according to reports. See also: <a href="https://www.businessinsider.in/airlines-in-india-are-raining-discounts-on-domestic-and-international-flights/articleshow/67060334.cms">Airlines in India are raining discounts on domestic and international flights</a> <a href="https://www.businessinsider.in/dispensed-a-secret-patch-a-31-million-pay-package-and-amazons-ambitions-in-a-300-billion-healthcare-technology-market/articleshow/67098889.cms">Dispensed: A secret patch, a $31 million pay package, and Amazon's ambitions in a $300 billion healthcare-technology market</a>

The Indian government may revisit plans to curb e-commerce discounts: Report

More than 18,000 toys from major stores across the country, including those of <keyword id="102844" type="General" weightage="50" keywordseo="hamleys" source="Orion">Hamleys</keyword> and Archies, have been seized by the government through 44 raids conducted in the past two weeks, official sources informed. The raids or enforcement drives were conducted by the Bureau of Indian Standards (<keyword id="6367870" type="General" weightage="80" keywordseo="bis" source="Orion">BIS</keyword>) against toy sellers for selling toys without conforming to the quality norms specified by BIS. In addition to this, the <keyword id="2619929" type="General" weightage="50" keywordseo="central-consumer-protection-authority" source="Orion">Central Consumer Protection Authority</keyword> (CCPA) has issued notices to three major e-commerce players namely <keyword id="18635" type="General" weightage="50" keywordseo="amazon" source="Orion">Amazon</keyword>, <keyword id="6354742" type="General" weightage="50" keywordseo="flipkart" source="Orion">Flipkart</keyword> and Snapdeal, for alleged violation of toys quality control order, sources informed. Since January 1, 2021, the government has made it mandatory for toys to conform to the Quality Control Order norms specified by BIS. BIS director general <keyword id="2209490" type="General" weightage="80" keywordseo="pramod-kumar-tiwari" source="Orion">Pramod Kumar Tiwari</keyword> told media persons on Thursday that the raids were conducted as they had been receiving complaints against violations from several quarters against toy sellers and makers. Apart from Hamleys and Archies, raids were conducted between December 28, 2022 and January 12, 2023 on retail stores of WH Smith, Kids Zone and Cococart, which are located at malls and airports across the country. <keyword id="6364858" type="General" weightage="80" keywordseo="tiwari" source="Orion">Tiwari</keyword> further informed that legal action would be intitiated against retailers. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/indian-american-lawmakers-of-samosa-caucus-welcome-a-new-member-into-their-fold/articleshow/96935343.cms">Indian-American lawmakers of 'Samosa Caucus' welcome a new member into their fold</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/pain-management-post-op-geriatric-care-market-likely-to-double-to-35-billion-by-fy28-redseer/articleshow/96936641.cms">Pain management, post-op &amp; geriatric care market likely to double to $35 billion by FY28 : Redseer</a>

Over 18,000 toys from Hamleys, Archies stores seized for violating quality control norms

The Confederation of All India Traders (CAIT) in a letter sent to Union Commerce Minister Piyush Goyal has said <keyword id="1007503" type="PERSON" weightage="20" keywordseo="foreign-entities">foreign entities</keyword> like <keyword id="18635" type="COMPANY" weightage="20" keywordseo="Amazon">Amazon</keyword> and <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> are hell bent on ruthlessly destroying the Indian retail sector with their deep pockets and expansive lobby of legal experts who will stop at nothing before trampling the lives of over 40 crore Indians. CAIT in a communication sent to Goyal said that FDI in e-commerce section of Press Note No.2 of FDI Policy 2016/2018, the stipulations of which foreign entities like Amazon and Flipkart are hell bent on ruthlessly destroying the Indian retail sector with their deep pockets and expansive lobby of legal experts who will stop at nothing before trampling the lives of over 40 crore Indians. "It is nothing less than a daylight robbery where expressive prohibitions of Press Note No.2 are grossly and blatantly are being violated by such foreign entities derived with their ulterior motives to implement their hidden agenda to control and dominate not only the e-commerce business but also the retail trade of India in a very clandestine manner", it said. CAIT said that instead of complying the stipulations of said Press Note both in letter and spirit to respect the law of the land, these foreign entities are deliberately each and every rule of the Press Note No.2 treating India as a banana republic. Under such a grim situation and particularly in the wake of current highly vitiated e-commerce business, a duty is cast upon the Government to protect sanctity of the law, rules and regulations pertaining to FDI in e-commerce and therefore necessity of a new and fresh Press Note replacing Press Note No.2 of the FDI policy is need of the hour. The loopholes of the present policy are being exploited by foreign e-commerce giants like Amazon and Flipkart so that these loopholes are properly plugged and the policy is implemented as per its original intent. CAIT said that such control allows them do predatory pricing, deep discounting, preferential treatment of sellers with capital dumping through their affiliate sellers at its root. All this is done to gain the market share and make illegitimate financial gains at the expense of livelihood of 8.5 crores small merchants, their dependent families and employees. To circumvent the restriction imposed on the <keyword id="2387771" type="POSITION" weightage="20" keywordseo="marketplace-model">marketplace model</keyword> of e-commerce, a common practice resorted to by these giant foreign e-commerce entities has been to create affiliate companies as sellers, in such a way that they have full control on their business by the way of equity and/or economic participation through their parent/group companies without strictly falling within the definition of 'Group Company' in FDI policy. To plug these loopholes CAIT has demanded to include vital points for issuance of a new Press Note on FDI policy in e-commerce. In order to clearly demarcate the boundary between "market place model" and "inventory based model", any type of direct/indirect, equity or economic relationship, between "e-commerce marketplace entity" and "seller on its platform" should be prohibited. For this purpose, any type of relationship between "marketplace entity" and "Seller", whether direct or indirect, equity or economic or otherwise should be strictly prohibited. Such prohibited relationship between Marketplace and Seller may include, but not limited to, Group companies, Affiliates, Related Parties, Associate Companies, Beneficial owners or any other person(s)who can exercise such control. It also suggested that marketplace based model of e-commerce would mean provision of an information technology digital platform by an e commerce entity to act as a facilitator between buyer and seller only. Inventory based model of e-commerce would mean an e-commerce activity where inventory of goods and services is owned by e-commerce entity and is sold to the consumers directly. E-commerce market place entity and its Group Companies will not, directly or indirectly, own or control the inventory i.e. goods or services purported to be sold on the marketplace. Such an ownership or control over their inventory will render the business into inventory-based model. Marketplace entity &amp; its Group Companies shall not, directly or indirectly sell inventory of goods or services purported to be sold on the marketplace to the Sellers. If any goods or services which are sold by the Group Companies of marketplace and are resold in the e-commerce platform, then such activity shall be treated as inventory based model of e-commerce, CAIT said. The seller having ownership or control on its inventory by the Group Companies of e-commerce marketplace entity, is not permitted to sell its goods or services on the marketplace. Inventory of a seller on the marketplace will be deemed to be controlled by e-commerce marketplace entity if such seller purchases its inventory purported to be sold on the marketplace directly or indirectly from its Group Companies. Further, each marketplace entity and its affiliates, group companies, associates shall provide all details, information, documents, statements and returns as required by the Government or any Regulator, at prescribed intervals or from time to time for verification of compliance with the provisions of these guidelines, CAIT said. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-future-group-appeals-to-the-singapore-arbitrator-to-exclude-future-retail-from-the-fight-with-amazon/articleshow/81562016.cms">Ahead of Delhi High Court's decision, Future Group appeals to the Singapore arbitrator to exclude Future Retail from the fight with Amazon</a> <a href="https://www.businessinsider.in/business/startups/news/indian-spacetech-startup-pixxel-space-gets-7-3-million-funding-before-the-launch-of-its-first-satellite/articleshow/81562421.cms">Indian spacetech startup Pixxel gets $7.3 million in funding as it announces a new product even before the launch of its first satellite</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-adds-3-times-more-subscribers-than-reliance-jio-vodafone-idea-turns-positive-for-the-first-time-in-15-months/articleshow/81562851.cms">Airtel adds 3 times more subscribers than Jio while Vodafone Idea gets net addition first time in 15 months</a>

You Searched For "Amazon Indian government" and got 9 results

India to see retail digital payments to double to USD 7 tn by 2030: Report

PTI

Amazon Web Services Public Sector Symposium 2023 - Cloud Computing For the Future

Dhruv Mohan

Amazon and Flipkart accused of violating FDI policy — Indian government asks RBI and ED to take action

IANS

From home sales and jewellery to power consumption, these are all the sectors that are back to pre-pandemic levels

Bhakti Makwana

The Indian government may soon have more control over how social media companies moderate content and block users

Sourabh Jain

Indians said ‘I Love You' to Amazon Alexa 19,000 times a day in 2020

IANS

The Indian government may revisit plans to curb e-commerce discounts: Report

BI India Bureau

Over 18,000 toys from Hamleys, Archies stores seized for violating quality control norms

IANS

'Amazon and Flipkart are destroying India's retail sector,' says CAIT, asks government to revise FDI policy in e-commerce

IANS

Popular Keywords

Buying Guides