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<ul><li><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> today announced that it has acquired the intellectual property of <keyword id="3351303" type="PERSON" weightage="20" keywordseo="Gaming-startup">gaming startup</keyword> <keyword id="3181305" type="PERSON" weightage="20" keywordseo="Mech-Mocha">Mech Mocha</keyword>.</li><li>Mech Mocha runs a <keyword id="393650" type="ORGANIZATION" weightage="20" keywordseo="Social-gaming">social gaming</keyword> platform called Hello Play.</li><li>Earlier in 2015, Flipkart had invested an undisclosed amount into Mech Mocha.</li></ul>Indian e-commerce giant Flipkart has acquired the intellectual property of gaming startup Mech Mocha. With the acquisition, Mech Mocha’s gaming team will be joining Flipkart. Mech Mocha runs a social gaming platform called Hello Play. Social gaming refers to an online game that is usually multiplayer, and is played through social media networks. Founded by Arpita Kapoor and Mohit Rangaraju in 2014, the Bengaluru-based Mech Mocha is backed by investors like Accel Partners, Blume Ventures, and Shunwei Capital. Mech Mocha also has over ten games in seven Indian local languages. The move comes from Flipkart as the e-commerce platform looks at ways to develop new and innovative formats to engage with users on its platform. “We see many first-time e-commerce users come online through formats such as video and games, as they build familiarity with the medium. Our observations of Flipkart GameZone, reflect this trend as we see a strong correlation between casual gamers becoming early shoppers on Flipkart for their digital journey. Through this transaction, we will strengthen our capabilities in the gaming domain with access to Mech Mocha's IP, games and talented team that will help us accelerate our efforts in this space,” said Prakash Sikaria, Vice-President, Flipkart. Earlier in 2015, Flipkart had <a href="https://gadgets.ndtv.com/games/features/flipkart-gets-into-the-games-business-teams-up-with-blume-to-back-mech-mocha-781373">invested</a> an undisclosed amount into Mech Mocha during the startup’s $1 million seed funding round. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/prajakta-koli-aka-mostlysane-advice-for-content-creators-on-the-fine-line-between-brand-collaborations-and-staying-honest-on-social-media/articleshow/79013162.cms">Prajakta Koli aka MostlySane’s advice for content creators on the fine line between brand collaborations and staying honest on social media</a>

Flipkart acquires gaming startup Mech Mocha as it looks to tap the social gaming space for more consumers

<ul><li>The three-year old <keyword id="8391587" type="UNKNOWN" weightage="20" keywordseo="scapic">Scapic</keyword> is a cloud-based platform which offers creation and publishing of Augmented Reality (AR) and 3D content.</li><li>Scapic’s team will join <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> and will help the e-commerce giant build deeper camera experiences, virtual storefronts and bring new opportunities for brand advertising on its platform.</li><li>Flipkart’s acquisition of Scapic joins its long list of recent acquisitions and investments as the company scales up operations while competition rises from the likes of Amazon and JioMart.</li></ul>Indian e-commerce giant Flipkart continues with its acquisition spree. The company has picked up a 100% stake in Augmented Reality company Scapic. The three-year old Scapic is a cloud-based platform that offers creation and publishing of Augmented Reality (AR) and 3D content. The company has clients across e-commerce and marketing. The startup had also recently won in the Industry 4.0 – AR category, during the National Startup Awards 2020. Founded by Sai Krishna V K &amp; Ajay P V, the Bengaluru-based company had earlier raised funding from Axilor, Speciale Invest, and Newfort Capital. “Today, we buy more online than we ever have, and it has only accelerated this year. Customers now require better visuals than ever before. Scapic is building visual technology that brings products to life using Augmented Reality and 3D. Advancements by the Scapic team in the field of AI, Computer Vision and AR have made this change possible,” said the founders in a statement. With the acquisition, Scapic’s team will join Flipkart and will help the e-commerce giant build deeper camera experiences, virtual storefronts and bring new opportunities for brand advertising on its platform. “As we make investments that focus on developing and nurturing the retail ecosystem, we are also committed to making our platform easier to navigate and richer for consumers in terms of content and experience. I welcome the Scapic team to Flipkart as we continue our efforts to provide deeper value to our customers,” said Flipkart CEO Kalyan Krishnamurthy in a statement. Flipkart’s acquisition of Scapic joins its long list of recent acquisitions and investments as the company scales up operations while competition rises from the likes of Amazon and JioMart. Flipkart is also doubling down on user experience on the platform. With its acquisition of social gaming startup <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-acquires-gaming-startup-mech-mocha-as-it-looks-to-tap-the-social-gaming-space-for-more-consumers/articleshow/79014466.cms">Mech Mocha</a> recently, the e-commerce platform was looking at ways to develop new and innovative formats to engage with users on its platform. Flipkart is on an investment spree <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Acquisitions by Flipkart </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investment by Flipkart </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mech Mocha </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Fashion Retail Limited- ₹1,500 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Walmart’s B2B business </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arvind Fashions - ₹260 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">USPL - undisclosed amount </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/makemytrip-shares-soar-as-covid-vaccine-progress-from-moderna-and-pfizer-spark-optimism-of-faster-travel-recovery/articleshow/79255315.cms">MakeMyTrip shares soar as COVID vaccine progress from Moderna and Pfizer spark optimism of faster travel recovery</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-invests-in-uspl-fashion-house-that-has-brands-like-virat-kohli-wrogn-and-kriti-sanon-ms-taken/articleshow/79058747.cms">Flipkart makes its third fashion investment in five months — bets on USPL that houses brands like Virat Kohli's Wrogn and Kriti Sanon's Ms Taken</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-acquires-gaming-startup-mech-mocha-as-it-looks-to-tap-the-social-gaming-space-for-more-consumers/articleshow/79014466.cms">Flipkart acquires gaming startup Mech Mocha as it looks to tap the social gaming space for more consumers</a>

Flipkart makes yet another acquisition – buys 100% stake in Augmented Reality startup Scapic

If all goes well, Phase-II clinical trials of Russian vaccine Sputnik V will commence at state government-run College of Medicine and Sagore Dutta Hospital by the end of this month, a senior official of the health department said on Tuesday. The necessary surveys -- which include visiting the hospital to check its infrastructure and cold storage facilities -- have been carried out by a site management organisation before starting the process, he stated. Snehendu Koner, the head of business development at site management organisation CliniMed LifeSciences, said a report on survey findings has been sent to the Drug Control General of India (DCGI) for approval. "We have visited the site, conducted checks on its infrastructure as well as facilities for storing vaccines and immunogenicity samples. "We have also gone through the hospital's records and found it has experiences of conducting clinical trials. Our findings are quite satisfactory and we have sent it to the DCGI for approval," Koner told when contacted. Once the DCGI gives green signal, the hospital's ethics committee will issue a clearance to start the Phase-II clinical trials there, he said "We have also identified the principal investigator as well the co-investigator for the process," he said. The clinical trial of Sputnik V, scheduled to be held throughout the country, will be conducted by pharma company Dr Reddy's Lab, which has joined hands with the Russian Direct Investment Fund (RDIF). According to a health department official, the RDIF will be supplying 100 million doses of its potential COVID-19 vaccine to Dr Reddy's Lab. Hundred volunteers will be chosen all over the country, and out of them 75 will be administered the vaccine. Twenty five others will be given placebo -- a substance or treatment which is designed to have no therapeutic value. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/tcs-infosys-hcl-tech-and-others-to-see-more-freshers-than-lateral-hires-in-the-next-six-months/articleshow/79014794.cms">TCS, Infosys, HCL Tech, and others to see more freshers than lateral hires in the next six months</a> <a href="https://www.businessinsider.in/thelife/personalities/news/prajakta-koli-aka-mostlysane-advice-for-content-creators-on-the-fine-line-between-brand-collaborations-and-staying-honest-on-social-media/articleshow/79013162.cms">Prajakta Koli aka MostlySane’s advice for content creators on the fine line between brand collaborations and staying honest on social media</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-acquires-gaming-startup-mech-mocha-as-it-looks-to-tap-the-social-gaming-space-for-more-consumers/articleshow/79014466.cms">Flipkart acquires gaming startup Mech Mocha as it looks to tap the social gaming space for more consumers</a>

Phase-II trial of Russia's COVID-19 vaccine awaits DCGI nod in India

Speaker of the US House of Representatives <keyword id="128640" type="PERSON" weightage="20" keywordseo="Nancy-Pelosi">Nancy Pelosi</keyword> has said that Congress was prepared to decide the outcome of the presidential election, which will take place on Tuesday, if the results were disputed. According to the US political system, if there isn't a clear winner by electoral vote, the House then chooses the next President, The Hill news website reported. "We understand what the law is and the pre-eminence of the role of Congress and specifically the House of Representatives when it comes to counting the votes. "We're ready. We're prepared. We've been ready for a while because we see this irresponsibility of the President, his disrespect for the Constitution, for our democracy and for the integrity of our elections. So we're ready for him," the veteran Democrat was quoted as saying in an NPR public radio station interview on Monday. Pelosi's remarks came a day after the Axios news outlet published a report on Sunday saying that the President has privately discussed plans to declare victory on Tuesday night even though it might take a few days for all mail-in ballots to be counted in some states, reports Xinhua news agency. As some states do not allow processing mail-in ballots until Election Day, such as key swing state Pennsylvania, analysts have warned that the winner of the presidential election may still be unknown when polling is over, and the final results could be delayed for days. But while speaking to reporters after arriving in Charlotte, North Carolina, on Sunday, Trump claimed the Axios report as was "false", while noting that he thinks "it's a terrible thing when ballots can be collected after an election". On October 29, the Supreme Court ruled that Pennsylvania election officials can accept absentee ballots arriving three days after election day, handing Democrats a victory in a legal fight, and prompting criticism from Trump. The President added he thought it was "terrible when we can't know the results of an election the night of the election in a modern-day age of computers". According to the latest tally from the US Elections Project, voters have already cast more than 98 million ballots in early voting ahead of Election Day. That figure, including more than 35 million in-person votes and nearly 63 million returned mail-in ballots, represents more than 71 per cent of the total votes counted in the 2016 general elections, the data showed. Besides the Trump-Biden race, all 435 seats in the US House of Representatives and 35 of the 100 seats in the Senate will also be in the fray on Tuesday. More than a dozen state and territorial governorships, among many other state and local posts, will also be contested. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/tcs-infosys-hcl-tech-and-others-to-see-more-freshers-than-lateral-hires-in-the-next-six-months/articleshow/79014794.cms">TCS, Infosys, HCL Tech, and others to see more freshers than lateral hires in the next six months</a> <a href="https://www.businessinsider.in/thelife/personalities/news/prajakta-koli-aka-mostlysane-advice-for-content-creators-on-the-fine-line-between-brand-collaborations-and-staying-honest-on-social-media/articleshow/79013162.cms">Prajakta Koli aka MostlySane’s advice for content creators on the fine line between brand collaborations and staying honest on social media</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-acquires-gaming-startup-mech-mocha-as-it-looks-to-tap-the-social-gaming-space-for-more-consumers/articleshow/79014466.cms">Flipkart acquires gaming startup Mech Mocha as it looks to tap the social gaming space for more consumers</a>

US Congress prepared to decide outcome of election if poll results are disputed

Scientists have shown that there are seven "forms of disease" in mild COVID-19, and that the novel coronavirus infection leaves behind significant changes in the immune system even after 10 weeks, findings which may aid in the treatment of patients, and in the development of a potent vaccine. The study, published in the journal Allergy, involving 109 recovered COVID-19 patients and 98 healthy individuals in the control group, showed that various symptoms related to COVID-19 occur in groups. In the research, scientists, including those from the Medical University of Vienna in Austria, identified seven groups of symptoms including "flu-like symptoms" with fever, chills, fatigue and cough, "common cold-like symptoms" with rhinitis, sneezing, dry throat and nasal congestion, and "joint and muscle pain". They said patients may also experience "eye and mucosal inflammation" symptoms, "lung problems" with pneumonia and shortness of breath, "gastrointestinal problems" including diarrhoea, nausea and headache, and "loss of sense of smell and taste and other symptoms". "In the latter group we found that loss of smell and taste predominantly affects individuals with a 'young immune system,' measured by the number of immune cells -- T lymphocytes -- that have recently emigrated from the thymus gland," said Winfried F. Pickl, a co-author of the study from the Medical University of Vienna. "This means that we were able to clearly distinguish systemic (groups one and three) from organ-specific forms (groups six and seven) of primary COVID-19 disease," Pickl said. From the analysis, the scientists established that COVID-19 leaves behind long detectable changes in the blood of recovered patients, very similar to a fingerprint. Citing an example, they said the number of granulocytes, which are otherwise responsible in the immune system for fighting bacterial pathogens, is significantly lower than normal in the COVID-19 group. "However, both the CD4 and CD8 T cell compartment developed memory cells and CD8 T cells remained strongly activated. This indicates that the immune system is still intensively engaged with the disease several weeks after initial infection," Pickl explained. According to the researchers, increased levels of antibody-producing immune cells were detected in the blood of recovered patients. The higher the fever of the affected patient during the mild course of the disease, the higher were the antibody levels against the virus, they said. "Our findings contribute to a better understanding of the disease and help us in the development of potential vaccines, since we now have access to promising biomarkers and can perform even better monitoring," the scientists said. "Above all, the study shows that the human immune system "doubles up" when defending against COVID-19 with the combined action of immune cells and antibodies," they noted. According to the study, the immune cells are also able to memorise certain "moves" on the part of the virus and respond to them. "Now it is a matter of implementing these findings and using them for the development of highly-effective COVID-19 vaccines," the researchers said. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/tcs-infosys-hcl-tech-and-others-to-see-more-freshers-than-lateral-hires-in-the-next-six-months/articleshow/79014794.cms">TCS, Infosys, HCL Tech, and others to see more freshers than lateral hires in the next six months</a> <a href="https://www.businessinsider.in/thelife/personalities/news/prajakta-koli-aka-mostlysane-advice-for-content-creators-on-the-fine-line-between-brand-collaborations-and-staying-honest-on-social-media/articleshow/79013162.cms">Prajakta Koli aka MostlySane’s advice for content creators on the fine line between brand collaborations and staying honest on social media</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-acquires-gaming-startup-mech-mocha-as-it-looks-to-tap-the-social-gaming-space-for-more-consumers/articleshow/79014466.cms">Flipkart acquires gaming startup Mech Mocha as it looks to tap the social gaming space for more consumers</a>

New study identifies seven different types of mild COVID-19

The <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> Tuesday deferred to November 5 the hearing on a batch of pleas relating to charging of interest on interest by banks on EMIs which were not paid by the borrowers who availed of the RBI <keyword id="6840678" type="UNKNOWN" weightage="20" keywordseo="loan-moratorium">loan moratorium</keyword> scheme in view of the COVID-19 pandemic. The <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> and the Finance Ministry have already filed separate additional affidavits in the apex court saying that the banks, financial and non-banking financial institutions will credit into the accounts of eligible borrowers by November 5 the difference between compound and simple interest collected on loans of up to Rs 2 crore during the <keyword id="117489" type="PERSON" weightage="20" keywordseo="moratorium">moratorium</keyword> scheme period. A bench of Justices Ashok Bhushan, R Subhash Reddy and M R Shah was requested by Solicitor General Tushar Mehta that the hearing in the loan moratorium case be deferred as he would be busy arguing on behalf of the Centre in other matter relating to the Central Vista project. "These moratorium matters were listed yesterday but they came up today. I am requesting for an adjournment considering I have a case (Central Vista) where I will be arguing" the law officer said. A letter seeking deferment of the hearing in the case was also circulated by advocate-on-record Anil Katiyar for the Centre to the parties and the bench. The top court acceded to the request and adjourned the hearing on pleas including the one filed by Gajendra Sharma on November 5. The pleas pertained to charging of interest on interest by banks on EMIs which have not been paid by borrowers after availing the loan moratorium scheme of RBI during March 1 to August 31. Earlier, the RBI had filed the affidavit saying that it has asked all banks, financial and non-banking financial institutions to take "necessary actions" to credit into the accounts of eligible borrowers the difference between compound and simple interest collected on loans of up to Rs 2 crore during the moratorium scheme. Prior to this, the central government had told the apex court that lenders have been asked to credit into the accounts of eligible borrowers the difference between compound and simple interest collected on loans of up to Rs 2 crore during the RBI's loan moratorium scheme by November 5. The government had said that the ministry has issued a scheme as per which lending institutions would credit this amount in the accounts of borrowers for the 6-month loan moratorium period which was announced following the COVID-19 pandemic situation. On October 14, the apex court had observed that the Centre should implement "as soon as possible" the interest waiver on loans of up to Rs 2 crore under the RBI's moratorium scheme and had said that the common man's Diwali is in the government's hands. The RBI had on March 27 issued the circular which allowed lending institutions to grant a moratorium on payment of instalments of term loans falling due between March 1, 2020, and May 31,2020, due to the pandemic. Later, the moratorium was extended till August 31 this year. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/prajakta-koli-aka-mostlysane-advice-for-content-creators-on-the-fine-line-between-brand-collaborations-and-staying-honest-on-social-media/articleshow/79013162.cms">Prajakta Koli aka MostlySane’s advice for content creators on the fine line between brand collaborations and staying honest on social media</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-acquires-gaming-startup-mech-mocha-as-it-looks-to-tap-the-social-gaming-space-for-more-consumers/articleshow/79014466.cms">Flipkart acquires gaming startup Mech Mocha as it looks to tap the social gaming space for more consumers</a> <a href="https://www.businessinsider.in/india/news/covid-19-vaccine-updates-pfizer-moderna-to-roll-out-covid-19-vaccine-by-december/articleshow/78924143.cms">COVID-19 vaccine tracker: German CureVac shows an immune response, Aspen Pharmacare and J&amp;J sign pact to make vaccine in South Africa</a>

Supreme Court verdict on loan moratorium case deferred to November 5

<ul><li><keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> is planning a $10 billion <keyword id="3123061" type="PERSON" weightage="20" keywordseo="Flipkart-IPO">Flipkart IPO</keyword>, valuing the Indian e-commerce giant at $40 billion.</li><li>At this valuation, Walmart’s investment in the Indian e-commerce giant would nearly double since it acquired Flipkart in 2018 for $16 billion.</li><li>Walmart has roped in investment bank Goldman Sachs to explore the Flipkart IPO plan, according to a Mint report.</li><li>Earlier in July this year, <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-powers-flipkart-with-more-capital-to-battle-google-facebook-and-amazon/articleshow/76960607.cms">Flipkart raised $1.2 billion</a> in a fresh round of funding, valuing the company at $24.9 billion. This round was led by Walmart.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>The much-anticipated Flipkart IPO (initial public offering) could soon be a reality. US retail player Walmart is reportedly gearing up to float a $10 billion Flipkart IPO in the US, divesting up to 25% of the stake in the Indian e-commerce player. According to a Mint <a href="https://www.livemint.com/market/ipo/walmart-readies-for-10-bn-flipkart-ipo-11607300769974.html">report</a>, Walmart has roped in investment bank Goldman Sachs to explore the Flipkart IPO plan. Business Insider has reached out to Flipkart for a statement and is awaiting a response. A $10 billion IPO would value Flipkart at $40 billion. This is 20% lower than the $50 billion valuation that was expected <a href="https://www.businessinsider.in/retail/news/walmart-owned-flipkart-the-indian-e-commerce-giant-is-reportedly-eyeing-a-2021-overseas-listing-and-hoping-for-a-50-billion-valuation/articleshow/78151697.cms">earlier in September</a>. However, at a valuation of $40 billion, Walmart’s investment would nearly double – it acquired Flipkart in 2018 at $16 billion for a 77% stake. At the time of its acquisition, Walmart pledged to take Flipkart public within four years. <div type="image" title="Flipkart valuation history" msid="79602375" hostid="261" caption="&amp;lt;p&amp;gt;Flipkart valuation history from 2009 to December 2020.&amp;lt;/p&amp;gt;&amp;lt;p&amp;gt;*based on reports of Flipkart IPO estimated the value of the company at $40 billion&amp;lt;/p&amp;gt;"></div> Note: December 2020 valuation is based on reports of Flipkart IPO. At the moment, Walmart’s stake in Flipkart stands at 82.3%, with Tiger Global, Tencent, Accel Partners, and Microsoft being the other key investors. Earlier in July this year, <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-powers-flipkart-with-more-capital-to-battle-google-facebook-and-amazon/articleshow/76960607.cms">Flipkart raised $1.2 billion</a> in a fresh round of funding, valuing the company at $24.9 billion. This round was led by Walmart. Flipkart going public will allow minority shareholders to pare their investments or make an exit. <div type="Article" hostid="261" msid="79544185" title="PhonePe raises $700 million at a $5.5 billion valuation, will operate as a separate entity" mstype="2" mssubtype="0"></div> Riding the Indian e-commerce boon Walmart’s plans to take Flipkart public could have been bolstered by the surge in e-commerce sales since the COVID-19 pandemic broke out. The massive surge in e-commerce sales is corroborated by Flipkart’s own statistics - the e-commerce giant <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-big-billion-sale-report-over-100-orders-per-second-10-million-products-delivered-already/articleshow/78790627.cms">witnessed a ten-fold increase</a> in its shipments during its festival sale this year. On an acquisition spree In addition to witnessing a massive surge in orders this year, Flipkart is also on an acquisition spree. From augmented reality startups to fashion companies, the e-commerce giant has been busy this year. After acquiring Walmart’s India operations this year, Flipkart also dabbled in the social gaming and augmented reality spaces with the acquisitions of <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-acquires-gaming-startup-mech-mocha-as-it-looks-to-tap-the-social-gaming-space-for-more-consumers/articleshow/79014466.cms">Mech Mocha</a> and <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-buys-ar-firm-scapic-to-boost-its-user-experience/articleshow/79256274.cms">Scapic</a>. It has also made a <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-invests-in-uspl-fashion-house-that-has-brands-like-virat-kohli-wrogn-and-kriti-sanon-ms-taken/articleshow/79058747.cms">few investments in the fashion space</a>, including USPL which houses Virat Kohli’s Wrogn. It has also invested in Aditya Birla Fashion Retail and Arvind Fashions. Flipkart is also expanding its partnerships with kiranas (the Hindi word for mom and pop stores), which delivered over 3.5 million orders during the Big Billion Days sale this year. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-big-billion-sale-report-over-100-orders-per-second-10-million-products-delivered-already/articleshow/78790627.cms">Flipkart Big Billion sale report - over 100 orders per second, 10 million products delivered already</a> <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-powers-flipkart-with-more-capital-to-battle-google-facebook-and-amazon/articleshow/76960607.cms">Walmart powers Flipkart with an additional $1.2 billion⁠ to help e-tailer battle Google, Facebook, and Amazon</a> <a href="https://www.businessinsider.in/business/startups/news/phonepe-700-million-5-5-billion-valuation-flipkart-separate-entity/articleshow/79544185.cms">PhonePe raises $700 million at a $5.5 billion valuation, will operate as a separate entity</a>

Flipkart’s reported $10 billion IPO plan will mean Walmart’s investment in the Indian e-commerce giant will double within 3 years

<ul><li><keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword> (TCS), <keyword id="30331" type="CITY" weightage="20" keywordseo="HCL-Technologies">HCL Technologies</keyword>, and other Indian IT behemoths plan to onboard more freshers than lateral hires over the next six months. </li><li>With attrition rates at an all-time low, there is less need to replace the loss of workforce, explained HCL Technologies’ CHRO VV Apparao.</li><li>TCS is looking beyond India’s border and plans to hire another 10,000 employees in the US amid H-1B visa ban issues.</li></ul>Freshers have a better shot at getting hired at one of the big-wig Indian IT companies in the second half of the year than those looking for a job change. The churn of employees at Indian IT companies is settling down as the likes of Tata Consultancy Services (TCS), <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword>, HCL Technologies, <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword>, and Tech Mahindra are witnessing some of the lowest attrition rates that they’ve seen in a while. “A large amount of lateral hiring happens because of attrition replacement. If I’m losing 20 people, I have to hire 20 people. To that extent, lateral hiring will come down,” HCL Tech CHRO Apparao VV told Business Insider. The company’s attrition rate was 12.2% this quarter — the lowest it has been in at least the last two years. <div type="image" title="attrition rates it companies" msid="79014772" hostid="261" caption="&amp;lt;p&amp;gt;Attrition rate at India&amp;#39;s IT companies over the last six quarters&amp;lt;/p&amp;gt;"></div> Indian IT companies are on the hunt for freshers HCL Tech plans to onboard another 9,000 freshers before March 31, bringing the total of new hires to 12,000 in the current fiscal year. But, it is yet to make up its mind about the coming year. “We have not yet finalised. We’re doing a bottom-up exercise where we ask each of the businesses, what is the growth they see. Part of it will be based on form booking and a part of it will be based on anticipation — past number. But it won’t be less than 10,000,” said Apparao. <div type="image" title="it companies headcount" msid="79014798" hostid="261" caption="&amp;lt;p&amp;gt;Net loss of employees in Q1 compared to net addition in Q2&amp;lt;/p&amp;gt;"></div> Infosys, which already onboarded close to 16,000 freshers this year, is planning on recruiting another 15,000 for the next year. With attrition at an all-time low of 8.9%, India’s biggest IT firm TCS too has been focused on onboarding freshers since July. “We started onboarding freshers and increased our recruitment globally in Q2 in anticipation of the growth trajectory,” said TCS CHRO, Milind Lakkad, during the second-quarter earnings call. The company is looking to onboard 10,000 employees over the next year in the US amid the uncertainty around H-1B visa regulations. Over the last five years, TCS has hired around 21,500 employees in the country in its efforts to localise. Wipro, which recently saw a change in leadership with Thierry Delaporte at the helm, did not disclose any exact numbers but does have ‘robust’ hiring plans for the second half of the current fiscal. “Very robust hiring this quarter, both laterally and campuses. We continue to see the same momentum going forward,” said the company’s CHRO Saurabh Govil during the second-quarter earnings call. He added that given the company’s current growth momentum, hiring — laterally and via campuses — is an important part of managing that growth. This includes hiring across geographies, including India and in the new business areas, especially cloud and cybersecurity, where the demand lies. India’s IT sector is among the first to recover from the economic impact of the coronavirus pandemic. Hiring freshers, rather than laterally, allows companies to pick up talent that’s relatively cheaper. It’s also easier to train fresh minds in-house for specific skills, especially because they are in short supply in the market. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/prajakta-koli-aka-mostlysane-advice-for-content-creators-on-the-fine-line-between-brand-collaborations-and-staying-honest-on-social-media/articleshow/79013162.cms">Prajakta Koli aka MostlySane’s advice for content creators on the fine line between brand collaborations and staying honest on social media</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-acquires-gaming-startup-mech-mocha-as-it-looks-to-tap-the-social-gaming-space-for-more-consumers/articleshow/79014466.cms">Flipkart acquires gaming startup Mech Mocha as it looks to tap the social gaming space for more consumers</a> <a href="https://www.businessinsider.in/india/news/covid-19-vaccine-updates-pfizer-moderna-to-roll-out-covid-19-vaccine-by-december/articleshow/78924143.cms">COVID-19 vaccine tracker: German CureVac shows an immune response, Aspen Pharmacare and J&amp;J sign pact to make vaccine in South Africa</a>

TCS, Infosys, HCL Tech, and others to see more freshers than lateral hires in the next six months

<ul><li>The annual <keyword id="2426742" type="PERSON" weightage="20" keywordseo="Malabar-exercise">Malabar Exercise</keyword> kicks off today with Australia as a permanent member. </li><li>This is the first time that all four <keyword id="887681" type="ENTERTAINMENT" weightage="20" keywordseo="Quad">QUAD</keyword> members — the US, Australia, India and Japan — are participating in the Malabar Exercise together in over a decade. </li><li>The timing of their cooperation is significant with China’s growing assertiveness in Taiwan, Hong Kong, the South China Sea, and, of course, Eastern Ladakh.</li></ul>India, the US, Japan, and Australia haven’t had their navies alongside each other for over a decade. Today, they kick off the first phase of the annual Malabar Exercise in the Bay of Bengal. The last time around, in 2007, Singapore was also among their ranks for the first-ever Malabar Exercise conducted outside of the Indian off the Japanese island of Okinawa. The event was a ‘test drive’ for how QUAD could coordinate on the open seas. While the partnership between India and the US remained strong — Australia withdrew in 2008 after a slew of diplomatic protests from China and India’s narrative under former Prime Minister Manmohan Singh that year to prioritise the India-China relationship. The QUAD was also on a nearly decade-long hiatus. In 2020, that is no longer the case. Japan became a permanent member of the Malabar Exercise in 2015. And this year, Australia also accepted India’s invitation to join in with its Royal Australian Navy (RAN). <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Navy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ships participating in the Malabar Exercise </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Royal Australian Navy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HMAS Ballarat </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">US Maritime Forces </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">USS John S McCain </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Navy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shakti, Ranvijay, Shivalik, Sindhuraj </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Japan Maritime Self Defence Force </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JS Onami </td></tr></tbody></table> <div type="image" title="malabar 2017_edited" msid="79018793" hostid="261" caption="&amp;lt;p&amp;gt;US and Japanese (R) Navy ships are pictured docked at a harbour during the inauguration of joint naval exercises with India in Chennai on 10 July 2017&amp;lt;/p&amp;gt;"></div> The significance of the Malabar Exercise The coronavirus pandemic and the ongoing conflict along the border with China only served as more incentive for India to make the QUAD work. The members have refrained from referring to China directly and claim the organisation’s goal is to work towards a ‘free and open Indo-Pacific’. <div type="image" title="quad malabar." msid="79018706" hostid="261" caption="&amp;lt;p&amp;gt;Sships of the Indian Navy and U.S. Navy sail in formation in the Bay of Bengal during the Malabar Exercise 2017 between India, Japan and the US&amp;lt;/p&amp;gt;"></div> Even at the Shanghai Cooperation Organisation (SCO) Ministerial Summit, the countries were careful not to name China but insist that the QUAD has a positive agenda based on shared interests and democratic values. However, this is the first year that all four member countries of the QUAD, or the Asian NATO, are ‘officially’ participating in the Malabar Exercise. The solidification of the alliance between them is a strong signal to China who has been asserting itself in the straits of Taiwan, South China Sea, Hong Kong and, of course, Eastern Ladakh. On its part, China has made it clear that it's not particularly comfortable with the Malabar Exercise. “We hope relevant countries’ military operations will be conducive to regional peace and stability, instead of the contrary,” said China’s Foreign Ministry spokesperson Wang Wenbin during the regular press conference in Beijing on Tuesday. The 2020 Malabar Exercise The 2020 Malabar Exercise makes its 24th iteration. Alongside the Indian Navy, the RAN, and Japan’s Maritime Self Defence Force (MJSDF), the US will be sending its Arleigh Burke-class guided-missile destroyer USS John S. McCain. “It is fitting to see our Navies operate in a high end, tactically relevant exercise like Malabar. It is another opportunity to further strengthen our combined capabilities and enhance our partnerships," said <a href="https://t.co/YEqTr6tyT0?amp=1">Captain Steven DeMoss</a>, commodore of the US Destroyer Squadron Fifteen in a statement. This year’s exercise at sea includes a variety of high-end tactical training aimed at specific interactions designed to enhance interoperability between the navies of the four counties. The Indian Navy’s participation will be led by Rear Admiral Sanjay Vatsayan. Along with its ships, India will also be sending its submarine dubbed Sindhuraj and many aircraft, including the advanced jet trainer Hawk, martin patrol aircraft Dornier, and the long-range maritime patrol aircraft P-8I. Once the first phase of the Malabar Exercise is complete on November 6, the second phase is scheduled for mid-November in the Arabian Sea. 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