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

New Delhi: <keyword id="19904868" type="General" weightage="100" keywordseo="Ecom-Express" source="keywords">Ecom Express</keyword> Ltd has filed draft papers with capital markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">Sebi</keyword> to garner Rs 2,600 crore through an initial share-sale. The company's <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>) comprises a fresh issue of equity shares worth Rs 1,284.50 crore and an Offer for Sale (OFS) of shares valued Rs 1,315.50 crore by promoters and other shareholders, according to the draft red herring prospectus (DRHP). Proceeds from the fresh capital to the tune of Rs 387.44 crore will be used for setting up new processing centres with automation and new fulfilment centres, Rs 73.71 crore for computers and IT equipment, Rs 239.23 crore for enhancing technology, data science capabilities, and cloud infrastructure, and Rs 87.92 crore for payment of debt. Also, the remaining funds will be used for general corporate purposes and potential acquisitions, according to the draft papers filed on Wednesday. The company may consider raising Rs 257 crore through a pre-IPO placement. If such placement is undertaken, the amount raised will be deducted from the total fresh issue size. Ecom Express operates a pan-India express logistics network that handles first-mile pick-up, mid-mile transportation, last-mile delivery, returns, and warehousing services. By offering essential logistics infrastructure and using technology, the company connect digital retailers and <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> platforms with consumers across the country. According to RedSeer report, the <keyword id="22803827" type="General" weightage="20" keywordseo="Indian-e-commerce-market" source="keywords">Indian e-commerce market</keyword> is projected to grow significantly, with a compound annual growth rate (CAGR) of 21 per cent over the next five years. It is expected to increase from Rs 5.1 lakh crore in 2024 to Rs 12.5-13.5 lakh crore by 2029. Growth is notably strong in Tier 2+ regions, which are expected to account for 70-80 per cent of B2C e-commerce shipments by 2029, up from 62 per cent in 2024, the report added. Axis Capital Ltd, IIFL Securities Ltd, Kotak Mahindra Capital Company Ltd and UBS Securities India Private Ltd are the book running lead managers to the company's public issue.

Ecom Express files papers with Sebi for Rs 2,600-crore IPO

The <keyword id="19900449" type="General" weightage="20" keywordseo="government" source="keywords">government</keyword> has sought proposals from the industry to set up <keyword id="22514802" type="General" weightage="20" keywordseo="E-commerce-export-hubs" source="keywords">e-commerce export hubs</keyword> (ECEH) in the country for examination, support, and hand-holding. Based on the proposal, further details, including software requirements for ECEH, to facilitate seamless and expeditious export clearances, will be firmed up, the Directorate General of Foreign Trade (<keyword id="19985555" type="General" weightage="20" keywordseo="DGFT" source="keywords">DGFT</keyword>) has said in a trade notice. In this regard, it said, draft modalities for operation of these hubs have been formulated. Based on draft modalities proposed, the government would like to initiate a pilot launch of ECEH. "In this regard, detailed proposal(s) for setting up ECEH may be submitted to this directorate, for examination, support and hand-holding," the DGFT said. In the Budget, the government announced setting up of these hubs to promote <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> through e-commerce medium in public-private-partnership (PPP) mode. Initially there are plans to set up 10-15 hubs in the country. These hubs would be designated areas, which would act as a centre for favourable business infrastructure and facilities for cross border e-commerce activities. The major objectives are to provide for predictability and shortest possible turnaround time for e-commerce exports, easy re-import for e-commerce returns or rejects, bringing various cross-border e-commerce stakeholders under one roof. At present, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s exports through this medium are only about USD 5 billion compared to China's USD 300 billion, annually. There is a potential to take it to USD 50-100 billion in the coming years. The draft modalities for operations of these hubs talked about movement of goods from supplier's premises to ECEH; pre-screening of goods; design of these hubs; and process flow for customs clearance once a buyer is found. ECEH will have two physical components -- first will be the fulfilment area for packing, labelling, storing to take place after pre-screening and till a buyer is found; and the second will be a customs station where the goods will be customs cleared after the buyer is found, ready for dispatch. Through these hubs, small producers will be facilitated to sell to aggregators and then that aggregator will find markets to sell. Export products, which hold huge potential through this medium include jewellery, apparel, handicrafts and ODOP (one district one product) goods. In such hubs, export clearances can be facilitated. Besides, it can also have warehousing facilities, customs clearance, returns processing, labelling, testing and repackaging. A report by economic think tank GTRI India's e-commerce exports have the potential to reach USD 350 billion by 2030, but banking issues hinder growth and increase operational costs. India has set a target of USD 1 trillion of merchandise exports by 2030 and cross-border e-commerce trade has been identified as one of the mediums to meet this aim. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

Govt seeks proposals for setting up e-commerce export hubs

Issues related to data privacy and rising <keyword id="20127272" type="General" weightage="20" keywordseo="online-frauds" source="keywords">online frauds</keyword> are emerging as significant hurdles in the growth of e-commerce in India, said the <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords" meta.keywordsubtype="org" meta.entityname="Economic Survey" meta.hostid="261" meta.entityid="Economic Survey">Economic Survey</keyword> 2023-24 tabled in Parliament on Monday. Citing third-party data, the survey said that the e-commerce industry in India is expected to cross USD 350 billion by 2030 and called for the need to educate users on the safe use of e-commerce platforms. "The rise of e-commerce is constrained by inadequate skills required for online selling, such as cataloguing. <keyword id="22505774" type="General" weightage="20" keywordseo="data-privacy-issues" source="keywords">Data privacy issues</keyword> and increasing online fraud have turned out to be the most significant hurdle in the growth of e-commerce in India. It becomes imperative to educate users on the safe use of e-commerce platforms," the survey said. The survey mentioned that India's e-commerce market has gained significant momentum during the past few years, owing to technological advancements, evolving new-age business models coupled with government initiatives like the Digital India program, UPI, One District - One Product (ODOP), Open Network for Digital Commerce (ONDC), new foreign trade policy, easing of FDI limits and Consumer Protection (E-Commerce) (Amendment) Rules 2021. It has identified data privacy and <keyword id="19906883" type="General" weightage="20" keywordseo="cybersecurity" source="keywords">cybersecurity</keyword> as critical concerns in the <keyword id="22505776" type="General" weightage="20" keywordseo="digitisation-of-services" source="keywords">digitisation of services</keyword> in the country and called for adopting strong security measures, compliance with privacy regulations, and innovation, among others. "Data privacy and cybersecurity have become critical concerns with the increasing digitisation of services," according to the survey. It said that the government is spearheading data protection laws and cybersecurity policies to safeguard consumer data and strengthen cybersecurity measures in the services sector. "To further embrace technology with confidence, ensuring the adoption of strong security measures, compliance with privacy regulations, and fostering innovation in security technologies are essential," the survey noted. It said the future of e-commerce is built on the enhanced <keyword id="20290101" type="General" weightage="20" keywordseo="user-experience" source="keywords">user experience</keyword> through <keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">AI</keyword>, seamless <keyword id="21332958" type="General" weightage="20" keywordseo="digital-payment-methods" source="keywords">digital payment methods</keyword>, innovations like UPI, and business engineering data analytics for business operations and enhancements. The survey mentioned that the buyer ecosystem in India is evolving at a very sharp rate, and business models will need to innovate to serve the needs of a diverse shopper base regarding service expectations, price sensitivity and language requirements. "Local language platforms are needed as the shopper base expands to tier-2 and tier-3 cities. Growing startups and innovative social media platforms provide an opportunity to test unique business models that might be targeted to specific demographic cohorts," the survey said.

Data privacy issues, online frauds emerging as e-commerce growth hurdles: Eco Survey

<keyword id="22865833" type="General" weightage="20" keywordseo="online-vendors" source="keywords">Online vendors</keyword> have generated 15.8 million <keyword id="19914922" type="General" weightage="20" keywordseo="jobs" source="keywords">jobs</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>, including 3.5 million for women, with about 1.76 million retail enterprises participating in <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> activity, says a report released on Wednesday. The report 'Assessing the Net Impact of e-Commerce on <keyword id="19898684" type="General" weightage="20" keywordseo="employment" source="keywords">Employment</keyword> and Consumer Welfare in India' was launched by Commerce and Industry Minister Piyush Goyal. "Plugging in data from our survey, we estimate that online vendors generate 15.8 million jobs, including 3.5 million jobs for women," the report prepared by Pahle India Foundation (PIF), a Delhi-based policy research institute, said. E-commerce, according to the report, has been a key driver of employment generation In India. On an average, online vendors employ 54 per cent more people and almost twice the number of female employees, compared to offline vendors. The report noted that two of the most widely-recognised contributions of e-commerce penetration in the retail sector are --growth in employment and improvements in consumer welfare. It said rather than displacing physical markets, e-commerce is expanding into new territories like tier 3 cities. "Our data shows that a higher percentage of Tier 3 city consumers spend more than Rs 5,000 per month on online shopping as compared to consumers from bigger cities," it said, adding this is the India consumption story, which enables the co-existence of physical and digital retail. The study analysed the impact e-commerce has had on employment and consumer welfare through a pan-India survey of 2,062 online vendors, 2,031 offline vendors, and 8,209 consumers of products from e-commerce websites across 35 cities in 20 states and UTs. According to the report, each e-commerce vendor on an average employs about 9 people, of which 2 are female, while each offline vendor employs about 6 people, of which only 1 is female. It pointed out that there was increase in employment across skill levels, including high-skilled (management, marketing), medium-skilled (customer service, operations), and low-skilled (warehousing, logistics, delivery) functions. The report said that the growth of e-commerce and accompanying digitalisation have fundamentally changed the skill sets and roles required in the industry. "Vendors have experienced improved business performance parameters since listing online, including higher sales and profits," it said. According to the report, 60 per cent and 52 per cent of vendors, respectively, state that their sales and profits have increased since the time they have started selling online. "Overall, more than two thirds of the online vendors interviewed experienced an increase in online sales value and profits in the past year," the report said, adding that 58 per cent saw an increase in both. Barring costs, it said vendors have seen a positive shift in all other aspects of business performance since they started selling online. The report said there is a strong business case for offline vendors to list on e-commerce platforms or pursue an omni-channel strategy. "E-commerce integration has accrued significant benefits to vendors from smaller cities and micro-enterprises," it said. The study also delves into how e-commerce has reshaped consumer behaviour, noting that consumers have shifted to online shopping for reasons that include convenience, product variety, and access. "A highly engaged consumer base is indicated by the fact that more than 50 per cent of all respondents to the survey spent more than two hours on e-commerce platforms a week, and that 70 per cent made a purchase via e-commerce in the last month alone," it said. Speaking at the event, former NITI Aayog Vice Chairman Rajiv Kumar said, e-commerce has revolutionized India's retail landscape. Ministry of Statistics and Programme Implementation(MoSPI) secretary Saurabh Garg lauded the government's initiatives expanding digital public infrastructure that have enabled the smooth expansion of e-commerce. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-gained-over-3-million-subscribers-in-june-vi-lost-nearly-a-million/articleshow/112670406.cms">Reliance Jio and Airtel gained over 3 million subscribers in June, Vi lost nearly a million</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-iphone-pro-models-will-be-made-in-india-for-the-first-time-this-year/articleshow/112653019.cms">The iPhone Pro models will be made in India for the first time this year</a> <a href="https://www.businessinsider.in/stock-market/webstories/orient-technologies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112646237.cms">Orient Technologies IPO – Price band to risk factors, all you need to know</a>

Online vendors generated 15.8 million jobs in India: e-commerce report

<ul class="summary-list"><li>PDD Holdings' stock plummeted 29% Monday after a bleak outlook due to competition and consumer shifts.</li><li>The company faces challenges from changing demand, intensifying competition, and global uncertainties.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/why-gen-x-boomers-love-temu-2024-1">Temu parent</a> PDD Holdings' stock plunged after the Chinese e-commerce giant signaled a bleak outlook.PDD stock fell nearly 29% on Monday, the most on record, after the company reported second-quarter earnings.The company reported about $4.4 billion in profits in the quarter, a 144% increase compared to last year. But co-CEO Chen Lei said investors should expect a decline in profits moving forward."We are seeing many new challenges ahead, from <a target="_blank" class="" href="https://www.businessinsider.com/temu-opens-its-marketplace-to-us-based-sellers-2024-3">changing consumer demand</a>, intensifying competition, and uncertainties in global environment," Chen said on an earnings call on Monday.PDD competes with ByteDance's TikTok shop, Alibaba, and Shein, all of which <a target="_blank" class="" href="https://www.businessinsider.com/what-is-shein-billion-dollar-fast-fashion-company-explained-2023-7">target fast-fashion shoppers</a>. Temu also sells low-cost products ranging from home goods to motorcycle accessories.Chen added that consumers are increasingly ditching material purchases for experience-based ones and that they want quality and value purchases.<h2 id="0c4e1524-6948-454a-999d-739b9e0cdaea">Carrots for good merchants</h2>Chen said that the company would "tackle low-quality" merchants by offering transaction fee reductions for higher-quality vendors.Chen repeatedly said that this is the right path for the company, even if it affects profits in the short term."On one side, we must ensure strict oversight of product quality to prevent substandard goods and protect consumer rights. On the other side, we must ensure fairness so that dedicated high quality merchants can earn meaningful rewards," the co-CEO said.Chen's remarks come amid a series of <a target="_blank" class="" href="https://www.businessinsider.com/temus-office-besieged-chinese-suppliers-protesting-refund-policy-2024-7">protests from Temu suppliers.</a>Hundreds of suppliers thronged Temu's Guangzhou, China, office in rallies this month, protesting fines and refund policies they said were destroying small merchants' profits. Temu, which <a target="_blank" class="" href="https://www.businessinsider.com/temu-is-on-a-quest-to-take-over-america-2024-2?utm_medium=referral&amp;utm_source=yahoo.com">surged in popularity in the US</a> because of its cheap clothing and home decor items, fines merchants if they receive refund requests or customer complaints."We sense PDD highlighting its intention to invest in 'good merchants' is aimed to appease some of its unhappy sellers complaining about ill-treatment by the platform," Jialong Shi, an analyst at Nomura, wrote in a note on Tuesday.The analyst maintained a Buy rating on the company and noted that the 29% decline may have been an overreaction.

Temu's parent company's stock tanked on a major warning sign from the cheap e-commerce brand

Demand for industrial and <keyword id="108235" type="General" weightage="20" keywordseo="logistics" source="Orion">logistics</keyword> spaces hit an all-time high across eight major cities last year with <keyword id="117877" type="General" weightage="20" keywordseo="leasing" source="Orion">leasing</keyword> activity rising annually by 8 per cent, according to <keyword id="20060150" type="General" weightage="20" keywordseo="cbre" source="keywords">CBRE</keyword>. In its latest report, <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword> consultant CBRE said that the leasing of industrial and logistics spaces rose to 38.8 million square feet in 2023 from 36 million square feet in the previous year driven mainly by demand from third-party logistics (3PL) companies. Anshuman Magazine, Chairman &amp; CEO, India, Southeast Asia, Middle East &amp; Africa, CBRE, said, "As we envision the future of the industrial and logistics sector, this robust growth is a testament to the sector's resilience despite global economic challenges." Leasing activities across the top eight cities remained robust in 2023, showing a steady annual space occupancy, he said. "The leasing landscape in 2023 reflects a pronounced influence of 3PL players, commanding a substantial 45% share," Magazine said. The consultant noted that diverse industries, including <keyword id="35621" type="General" weightage="20" keywordseo="e-commerce" source="Orion">e-commerce</keyword>, <keyword id="6354851" type="General" weightage="20" keywordseo="retail" source="Orion">retail</keyword>, and <keyword id="6362048" type="General" weightage="20" keywordseo="manufacturing" source="Orion">manufacturing</keyword>, chose to outsource their supply chain operations to 3PL firms. This strategic move was aimed at meeting storage requirements, attaining increased flexibility, cost reduction, and overcoming challenges associated with labour sourcing. Engineering and manufacturing companies constituted 17 per cent of the total leasing activity. The proactive government policies and initiatives such as the Production Linked Incentive (PLI) scheme played a pivotal role in fuelling the growth of domestic engineering and manufacturing firms. Leasing of industrial and logistics spaces in Mumbai touched an all-time high, registering 9.9 million sq ft in 2023 as against 7.3 million square feet in the previous year. In Delhi-NCR, the demand fell to 7 million square feet last year from 9.4 million square feet during 2022 calendar year. Bengaluru saw a decline to 4.7 million square feet from 5.9 million square feet. Kolkata too witnessed a dip to 3 million square feet from 3.8 million square feet. However, in Hyderabad, the demand grew to 4.3 million square feet from 3.7 million square feet. Leasing of industrial and logistics spaces in Chennai increased to 6 million square feet from 3.9 million square feet. In Pune, the leasing went up to 1.7 million square feet from 0.7 million square feet. The demand for industrial and logistic warehousing spaces in Ahmedabad rose to 2.2 million square feet last year from 1.2 million square feet in the 2022 calendar year. "Driven by increased demand for high-quality spaces, restricted availability of quality supply in specific locations, and an escalation in land costs, rental values witnessed an annual rise in prominent micro-markets across cities, except in the case of Kolkata," CBRE said.

Industrial & logistics space demand hit record in 2023 at 38.8 mn sq ft in 8 cities: CBRE

Our experts choose the best products and services to help make smart decisions with your money (<a href="https://www.businessinsider.com/personal-finance/personal-finance-editorial-standards" class="not-content-link" target="_blank">here's how</a>). In some cases, we receive a commission from <a href="https://www.businessinsider.com/personal-finance/our-partners" class="not-content-link" target="_blank">our partners</a>; however, our opinions are our own. Terms apply to offers listed on this page.Last updated: December 1, 2023Insider Inc. publishes links to various retailers as part of our reporting, particularly within product reviews through our Commerce team, which includes Personal Finance Insider.<a href="https://www.businessinsider.com/reviews"> </a>The Personal Finance Insider team highlights financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you.If you take an eligible action like clicking on a product we've covered, apply for a product, or ultimately get a financial product based on our research, we earn a commission from our advertising partners. This compensation does not influence whether a financial product or service receives favorable coverage. Our opinions are our own and not influenced by payment considerations. Personal Finance advertising partners include: <h3 class="faq-question">Auto Insurance</h3>Insure.com<h3 class="faq-question">Auto Loans</h3><ul class="faq-answer"><li>myAutoloan.com</li></ul><h3 class="faq-question">Banking</h3><ul class="faq-answer"><li>American Express</li><li>Aspiration </li><li>Axos Bank</li><li>Barclays</li><li>BlueVine</li><li>Brex</li><li>BusyKid</li><li>CIT Bank</li><li>Chase</li><li>Checks SuperStore</li><li>Chime</li><li>CIT Bank</li><li>Current</li><li>Dave Spending Account</li><li>eToro.com</li><li>First National Bank</li><li>GoHenry</li><li>HSBC</li><li>Juno</li><li>Lili</li><li>Melio</li><li>nbkc bank</li><li>Novo Bank</li><li>OnPath</li><li>PayPal</li><li>Quontic Bank</li><li>Save</li><li>Silver Gold Bull Profit Trove</li><li>Spruce Money</li><li>Step - banking for the next generation</li><li>Valley Direct Bank</li><li>Yotta</li></ul><h3 class="faq-question">Credit Cards</h3><ul class="faq-answer"><li>American Express</li><li>Brex</li><li>Capital Bank</li><li>Capital One</li><li>Chase</li><li>Coastal Bank</li><li>Credit One</li><li>Discover</li><li>M1</li><li>Pentagon FCU</li><li>Ramp</li><li>Revenued</li><li>Save</li><li>Synchrony Bank</li><li>US Bank</li><li>Verizon Wireless</li><li>Wells Fargo</li></ul><h3 class="faq-question">Credit Monitoring &amp; Credit Building</h3><ul class="faq-answer"><li>Aura</li><li>Credit Saint</li><li>CreditRepair.com</li><li>CreditSesame</li><li>Experian.com</li><li>Identity Guard</li><li>IdentityForce</li><li>IdentityIQ</li><li>Kikoff</li><li>Legal Shield</li><li>LexingtonLaw</li><li>Life Lock</li><li>MyFreeScoreNow.com</li><li>Self, Inc.</li><li>SkyBlue</li><li>The Credit Pros</li></ul><h3 class="faq-question">Home Insurance</h3><ul><li class="faq-answer">Insurify</li></ul><h3 class="faq-question">Investing</h3><ul class="faq-answer"><li>Ally Invest</li><li>Betterment</li><li>Bitcoin IRA</li><li>Capitalize</li><li>DLP Capital</li><li>Doorvest</li><li>Equity Multiple</li><li>Fabric by Gerber Life</li><li>Fidelity</li><li>Fundrise</li><li>Gemini</li><li>Personal Capital</li><li>Public</li><li>Streetbeat</li><li>TD Ameritrade</li><li>Uphold</li><li>Wealthfront</li><li>Zacks Trade</li></ul><h3 class="faq-question">Life Insurance</h3><ul class="faq-answer"><li>AIG Life Insurance</li><li>Ethos Life Insurance</li><li>Fabric Life Insurance</li><li>Ladder Life Insurance</li><li>Policygenius</li></ul><h3 class="faq-question">Mortgages/Home Warranties</h3><ul class="faq-answer"><li>American Home Shield</li><li>America's 1st Choice Home Club</li><li>Amerisave Mortgage</li><li>Arrived Homes</li><li>Better Mortgage</li><li>Choice Home Guard</li><li>Cinch Home Services</li><li>First Premier</li><li>Guild Mortgage</li><li>Liberty Home Guard</li><li>Quicken Loans </li><li>Rocket Mortgage</li><li>Select</li><li>New American Funding</li><li>Veterans United</li></ul><h3 class="faq-question">Miscellaneous</h3><ul><li class="faq-answer">Rakuten</li><li class="faq-answer">Rocket Money</li></ul><h3 class="faq-question">Personal Loans</h3><ul class="faq-answer"><li>AmOne</li><li>CashAdvance</li><li>Fiona</li><li>LendingTree</li><li>Payoff</li><li>Possible Finance</li><li>SoFi</li></ul><h3 class="faq-question">Pet Insurance</h3><ul class="faq-answer"><li>ASPCA</li><li>Chewy</li><li>Embrace</li><li>Figo</li><li>Healthy Paws</li><li>Lemonade</li><li>ManyPets</li><li>MetLife</li><li>Nationwide</li><li>Pet Plan</li><li>Prudent</li><li>Spot </li><li>Trupanion</li></ul><h3 class="faq-question">Student Loans</h3><ul class="faq-answer"><li>Ascent</li><li>College Ave</li><li>Credible</li><li>Earnest</li><li>SoFi</li></ul><h3 class="faq-question">Taxes</h3><ul class="faq-answer"><li>E-file.com</li><li>FreeTaxUSA</li><li>H&amp;R Block</li><li>Liberty Tax</li><li>Tax Slayer</li><li>TurboTax</li></ul><h3 class="faq-question">Travel Insurance</h3><ul class="faq-answer"><li>SquareMouth</li><li>Faye Travel Insurance</li></ul>Interested in how our other Commerce verticals, like Reviews and Coupons, work with advertisers? See <a href="https://www.insider-inc.com/commerce-on-insider-inc">this page</a>.Have something you think we should know about or interested in working with us? Get in touch at insiderpicks@businessinsider.com.

Personal Finance Advertising Policy

The Department for Promotion of Industry and Internal Trade (<keyword id="7281036" type="UNKNOWN" weightage="20" keywordseo="dpiit">DPIIT</keyword>) on Tuesday held a meeting with industry representatives from IT and e-commerce sectors to discuss the merits and de-merits of <keyword id="6752758" type="UNKNOWN" weightage="20" keywordseo="Draft-E-commerce-Policy">draft e-commerce policy</keyword> on data storage, an official said. Besides, officials from Nasscom, E-commerce Council of India, Informational Technology Industry Council, CII and FICCI also attended the meeting. Participants discussed about ways to attract investment in data storage infrastructure in the country. The big companies were asked to compile challenges as well as solutions and come back to the department in two weeks' time.
 The official said the department heard views of all the participants, and another meeting is also expected soon.
 The meeting was chaired by an additional secretary level officer of the DPIIT.
 It assumed significance as the department is working to release the <keyword id="7358326" type="UNKNOWN" weightage="20" keywordseo="national-e-commerce-policy">national e-commerce policy</keyword> by the end of the current financial year. The government in February last year released a draft national e-commerce policy, proposing setting up a legal and technological framework for restrictions on cross-border data flow and also laid out conditions for businesses regarding collection or processing of sensitive data locally and storing it abroad.
 Several foreign e-commerce firms have raised concerns over some points in the draft pertaining to data.
 The department has received huge response on the draft and it is examining all the views and comments.
 As the draft policy includes several provisions related to data, the department is also looking at the Personal Data Protection Bill approved by the Cabinet.
 Sources said that issues which needs to be looked upon in the policy include whether India should allow free flow of data across the border or inhibit or regulate it in some manner; and whether data localisation is required or not.
 The Personal Data Protection Bill spells out a framework for handling of personal data, including its processing by public and private entities.
 A company may have to pay a penalty if found violating norms under the Personal Data Protection Bill. See also: <a href="https://www.businessinsider.in/business/ecommerce/news/india-e-commerce-policy-will-mean-trouble-for-flipkart-and-amazon/articleshow/72119136.cms">India’s e-commerce policy is still in the works – with Flipkart, Amazon on tenterhooks</a> <a href="https://www.businessinsider.in/tech/news/5g-data-privacy-surveillance-ai-digital-tax-and-e-commerce-to-drive-tech-debate-in-india-in-2020/articleshow/73054149.cms">5G, AI, data privacy and mass surveillance — 12 biggest tech policy challenges India will have to face in 2020</a>

Government asks companies how to attract investment for data storage in India

India may soon incentivise <keyword id="6513856" type="UNKNOWN" weightage="20" keywordseo="kirana-stores">kirana stores</keyword> which become part of the e-commerce ecosystem by converting their operations to handle both online and <keyword id="2707926" type="PERSON" weightage="20" keywordseo="offline-sales">offline sales</keyword>. The special package of incentives for the smaller format mom and pop stores is likely to be a part of the e-commerce policy being drafted by <keyword id="2191129" type="COMPANY" weightage="20" keywordseo="The-Commerce-and-Industry-Ministry">the Commerce and Industry Ministry</keyword>. "We will offer incentives for kiranas willing to integrate their operations on the e-commerce platform so that the switchover could be swift. The incentives could be in the form of interest subventions on loans required for the switchover or as one time grant," said officials privy to the development. Several technology companies and e-commerce entities, including Facebook, Walmart and Amazon, have offered to provide necessary technologies that would help kiranas integrate with e-commerce platforms. Trade bodies have also launched various initiatives for this switchover that also requires small store owners to get necessary skills to handle online sales. The policy is also likely to encourage the existing e-commerce players to join local stores on their formats and facilitate their sales. In fact, e-commerce companies would be asked to put full details of the sellers on their marketplace so that buyers can take informed decisions and even look to use products sold on the platform by nearby shops for swift delivery and service. <keyword id="9426144" type="COMPANY" weightage="20" keywordseo="the-draft-national-ecommerce-policy">The Draft National Ecommerce Policy</keyword> was floated by the Department for Promotion of Industry and Internal Trade (DPIIT) last year for stakeholder comments. The policy is expected to be finalised this month and announced subsequently. The overarching objective of the policy is promotion of e-commerce ecosystem in the country, increasing jobs and rural productivity, along with exports. The policy is also expected to put in place an e-commerce regulator with penal powers. The regulator will check and penalise companies spreading false information or failing to comply with laid down regulations. It would also have power to suspend licence of companies or take them to competition regulator for taking any anti-competitive measure. Officials said that though the policy would not mandate data location for all e-commerce firms, this would be asked for in the case of three-four key strategic sectors for storing genetic material or any other material data.

E-commerce policy may have incentives for small mom-and-pop stores to join the online ecosystem

<ul><li><keyword id="160091" type="COMPANY" weightage="20" keywordseo="USIBC">USIBC</keyword> has urged the Indian government not to tighten e-commerce rules and not to make any more material restrictive changes to e-commerce investment rules.</li><li><keyword id="853920" type="COMPANY" weightage="20" keywordseo="CAIT">CAIT</keyword> has sent a strongly-worded letter to USIBC President Nisha Biswal stating that USIBC's intervention is unwarranted and runs against the interests of the 85 million traders of India.</li><li>CAIT National President B.C. Bhartia and Secretary General Praveen Khandelwal said that the intervention of USIBC shows both <keyword id="18635" type="COMPANY" weightage="20" keywordseo="Amazon">Amazon</keyword> and <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> are trying every route for an embargo over proposed changes in Press Note.</li></ul>New Delhi, The <keyword id="76562" type="ORGANIZATION" weightage="20" keywordseo="Confederation-of-All-India-Traders">Confederation of All India Traders</keyword> (CAIT) has strongly criticised US-based lobby group <keyword id="181958" type="ORGANIZATION" weightage="20" keywordseo="US-India-Business-Council">US-India Business Council</keyword> (USIBC) for objecting to an initiative of DPIIT to reframe the Press Note 2 of <keyword id="44528" type="COMPANY" weightage="20" keywordseo="FDI">FDI</keyword> policy. "The uncalled-for intervention of USIBC shows utter desperation of US companies like Amazon and Walmart and which are part of this lobby group, as they have understood that their sinister game of controlling and dominating e-commerce and retail trade of India will soon be over and they are trying to block initiative of DPIIT for bringing a new Press Note and e-commerce policy," CAIT said. "However, the 85 million-strong business community of India will ensure that reforms in e-commerce landscape should take place as soon as possible," the trader's body said. The CAIT has sent a strongly-worded letter to USIBC President Nisha Biswal stating that without knowing the true facts and under pressure of Amazon, Walmart and others, USIBC's intervention is unwarranted which runs against the interests of the 85 million traders of India. USIBC has urged the Indian government not to tighten e-commerce rules and not to make any more material restrictive changes to e-commerce investment rules as it will limit e-commerce firms from leveraging their scale. CAIT National President B.C. Bhartia and Secretary General Praveen Khandelwal said that at a time when in a recent judgement, the Delhi High Court has found Amazon guilty of violation of FDI policy and FEMA, the intervention of USIBC shows both Amazon and Walmart are trying every route for an embargo over proposed changes in Press Note. Bhartia and Khandelwal said that such a hue and cry is not understandable. CAIT said the government is not bringing any new law or policy and it is just trying to include Dos and Don'ts of the Press Note. Further scaling of any business can't be stopped by law or any policy. However, the scaling or growth in business has to be within the purview and parameters as defined in the policy or the law. "Why any entity should worry when the government is clarifying the policy?" CAIT asked. Bhartia and Khandelwal said that USIBC is mistaken in terming the business of these companies as an investment in India. The capital which these companies are using is meant to operate their business activities whose return in shape of revenue is accrued by these companies as their profit. Therefore, terming such capital as investment is factually wrong. CAIT said they are using this so-called investment as burning of capital to support their unethical business practices and also to violate the FDI policy of the government and the Foreign Exchange Management Act (FEMA). In a recent judgement of Delhi High Court, the court has taken on record that Amazon is violating FDI policy and FEMA, it added. SEE ALSO: <a href="https://www.businessinsider.in/business/news/one-thing-we-now-know-for-sure-is-in-the-budget-proposals-a-new-infra-lending-institution/articleshow/80600438.cms" data-type="tilCustomLink">One thing we now know for sure is in the budget proposals⁠— a new infra lending institution</a> <a href="https://www.businessinsider.in/budget/news/nirmala-sithraman-union-budget-2021-date-time-schedule-and-other-details-you-should-know/articleshow/80598178.cms" data-type="tilCustomLink" target="_blank">Union Budget 2021: Date, time, schedule and other details you should know</a> <a href="https://www.businessinsider.in/business/startups/news/a-golden-chance-for-startups-to-raise-a-funding-of-2-million-in-just-10-minutes-at-iit-bombays-e-summit-2021/articleshow/80598283.cms" data-type="tilCustomLink" target="_blank">A golden chance for startups to raise a funding of ₹2 million in just 10 minutes at IIT Bombay’s E-Summit 2021</a>

CAIT miffed with USIBC for intervening in India's e-commerce policy

<ul class="summary-list"><li><keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword> contracts delivery drivers through smaller local companies.</li><li>The companies provides the companies with a set of rules for the drivers that include grooming stipulations, Bloomberg reported. </li><li>In the past, Amazon has been criticized for its in-car monitoring equipment for delivery drivers.</li></ul>Amazon work rules regulate delivery drivers' personal grooming and social media habits, according to a recent report from <a href="https://www.bloomberg.com/news/articles/2021-05-05/amazon-work-rules-govern-tweets-body-odor-of-contract-drivers?srnd=premium&amp;sref=LspfQlRvQlRv">Bloomberg </a>on Wednesday.The company dictates specifics, including body odor and the appearance of fingernails and hair, to social media posts, Bloomberg found in an updated version of the company's policies that govern small delivery companies.While the company's delivery drivers wear an Amazon logo, many are actually employed by small independent businesses that Amazon calls Delivery Service Partners.According to Bloomberg, the contracts between the small companies and the <keyword id="35621" type="PERSON" weightage="60" keywordseo="e-commerce">e-commerce</keyword> giant can change at any time based on Amazon's needs. "Personal grooming must be maintained at an acceptable level, including but not limited to prevention of unpleasant breath or body odor, modest perfume/cologne, and clean teeth, face/ears, fingernails and hair," the policy states.Drivers are also required to avoid posting anything on social media that Amazon would deem "obscene."Amazon did not comment on the grooming and social media standards it maintains for its driver, but a spokesperson told Insider that its partnerships with local small businesses are well suited to its business goals - and help the smaller companies thrive, too. "The suggestion that Amazon is seeking to avoid responsibility for delivery drivers is wrong," an Amazon spokesperson told Insider. "The biggest challenge in developing a driver network is building great teams who understand their communities, and we think local small business owners do that best-they tap into their community to hire and develop great drivers, while the DSP program supports them with logistics experience, technology, and a suite of exclusive services that help their business thrive."Amazon's business model is not unlike many other US companies that use independent contract workers and staffing companies. McDonald's and FedEx also use a similar staffing process.Outside of grooming stipulations, the policy stipulates that drivers can be drug tested at any time. Amazon also approves training programs for the drivers, Bloomberg reported. The conditions <keyword id="7551455" type="UNKNOWN" weightage="60" keywordseo="amazon-delivery-drivers">Amazon delivery drivers</keyword> work under have captured public attention in the past. An <a href="https://www.businessinsider.com/amazon-drivers-say-peeing-in-bottles-common-despite-company-denials-2021-3">Insider report found that Amazon drivers are often forced to pee in bottles</a> as their schedules do not allow time for bathroom breaks.The company has also come under fire due to its policies for monitoring delivery drivers on the job. In February, <a href="https://www.businessinsider.com/amazon-plans-ai-cameras-surveil-delivery-drivers-netradyne-2021-2?utm_source=yahoo.com&amp;utm_medium=referralrral">Insider reported Amazon was equipping all delivery vehicles with AI camera systems</a> called Driveri. The cameras are always on and scan drivers' body language, the speed of the vehicle, and even drowsiness. The system then uses "automated verbal alerts" to tell drivers if a violation has been detected.

Amazon policies for delivery drivers reportedly include rules on body odor, personal grooming, and social media restrictions

<ul><li><keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> recently announced that it’s investing ₹27 billion in Amazon Sellers Pvt Ltd and another ₹1 billion in Amazon Retail <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> Pvt Ltd.</li><li>The <keyword id="35621" type="PERSON" weightage="20" keywordseo="e-commerce">e-commerce</keyword> giant also spent another ₹35 billion towards expanding its food retail business in India. </li><li>While going head-to-head with <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword>’s investments in India, both competitors share concerns over India’s <keyword id="6752758" type="UNKNOWN" weightage="20" keywordseo="Draft-E-commerce-Policy">Draft E-Commerce Policy</keyword>.</li></ul>In the aftermath of Walmart acquiring Amazon’s primary competitor in India, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, the world’s largest e-commerce giant has <a href="https://www.livemint.com/Companies/8mRhajBBdUbcTJagSjKqFO/Amazon-invests-another-Rs-2700-crore-in-India-business.html">invested ₹27 billion</a> ($386 million) in its Indian operations. Despite being the largest e-commerce company on a global scale, it still lags behind Flipkart in the country. Therefore, the new infusion of capital isn’t as surprising as it is expected. The company will have to maintain its aggressive stance in the Indian market will the coming competition from Walmart. The company also invested an additional ₹1 billion ($14 million) in Amazon Retail India Pvt Ltd and another ₹35 billion ($500 million) to expand its food retail business in India. With the capital infusions combined, Amazon’s total investment over the years comes to around $4 billion. According to insights by paper.vc, investment was directed into Amazon Sellers Pvt Ltd which is the marketplace for sellers who wish to sell their products online, not only in India but internationally through the e-commerce platform. Friend or foes Initially, when Amazon came to India it made a promise of investing $2 billion (₹140 billion) in the Indian market. Come 2016, they met that target while pledging an additional $3 billion (₹210 billion) bringing to the total promised investment to $5 billion (₹350 billion). In comparison, the company’s authorised capital was a mere ₹15 billion (₹214 million) when the original pledge was made. This set the pace for the company’s growth in India. Now, with Walmart acquiring Flipkart, Amazon has a competitor with equally deep pockets and no plans of letting go of its newest acquisition anytime soon. After paying $16 billion to acquire 77% of Flipkart, Walmart stated it had plans of pumping another $2 billion into its Indian subsidiary. And all this was not without any drama. It was only on Thursday that the Competition Commission of India (CCI) finally <a href="https://www.businessinsider.in/indias-competition-regulator-has-given-the-walmart-flipkart-deal-a-greenlight/articleshow/65337242.cms">greenlit</a> the deal. But, despite their differences, both Walmart and Amazon <a href="https://www.businessinsider.in/amazon-walmart-seek-us-help-against-indias-new-draft-e-commerce-policy/articleshow/65228547.cms">have issues</a> with India’s Draft of the E-commerce Policy. They claim that if some of the proposals are actually implemented, the disruption to the supply chain would be immensely damaging. Reports claim that they’re also roping in the Trump administration to talk to Indian authorities about their concerns. The competition between the two companies in India, especially when they’re focusing on increasing their sales rather than their margins, has already begun to lead to uncertainty in the market. While they go head-to-head in the online space, offline retailers could be the ones who bear the brunt.

You Searched For "Draft E commerce Policy" and got 12 results

Ecom Express files papers with Sebi for Rs 2,600-crore IPO

PTI

Govt seeks proposals for setting up e-commerce export hubs

PTI

Data privacy issues, online frauds emerging as e-commerce growth hurdles: Eco Survey

PTI

Online vendors generated 15.8 million jobs in India: e-commerce report

PTI

Temu's parent company's stock tanked on a major warning sign from the cheap e-commerce brand

Shubhangi Goel

Industrial & logistics space demand hit record in 2023 at 38.8 mn sq ft in 8 cities: CBRE

PTI

Personal Finance Advertising Policy

Insider Inc.

Government asks companies how to attract investment for data storage in India

PTI

E-commerce policy may have incentives for small mom-and-pop stores to join the online ecosystem

IANS

CAIT miffed with USIBC for intervening in India's e-commerce policy

IANS

Amazon policies for delivery drivers reportedly include rules on body odor, personal grooming, and social media restrictions

Grace Kay

Amazon takes the fight to Walmart by investing another ₹27 billion in India

Prabhjote Gill

Popular Keywords

Buying Guides