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<ul><li><keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Industries is looking to buy a majority stake in the online pharmacy company <keyword id="2875740" type="PERSON" weightage="20" keywordseo="Netmeds">Netmeds</keyword>.</li><li>The talks of stake purchase in Netmeds come at a time when Mukesh Ambani is doubling down on its e-commerce venture <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword>. </li><li> In 2019, Reliance had acquired 82% stake in C-Square solutions, a Bengaluru-based startup which provides software solutions to pharma companies. </li></ul>Mukesh Ambani is strengthening his e-commerce segment and is now reportedly looking to include e-pharmacy in his list of acquisitions. According to a <a href="https://timesofindia.indiatimes.com/business/india-business/reliance-plans-to-buy-e-pharmacy-netmeds/articleshow/75564362.cms">TOI report,</a> Reliance is looking to buy a majority stake in the online pharmacy company Netmeds. Netmeds, which was facing challenges in delivery during lockdown, had already partnered with <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> to deliver medicines in April 2020. The deal talks with Netmeds has come at a time when Reliance is doubling down on its e-commerce venture JioMart. While limited to grocery so far, JioMart had begun operations in Navi Mumbai, Thane and Kalyan. With the Facebook investment, Reliance Retail and WhatsApp are now in a commercial partnership to accelerate JioMart’s growth. Through <a href="https://www.businessinsider.in/tech/news/whatsapp-has-reportedly-listed-giving-loans-as-a-main-objective/articleshow/75445825.cms">JioMart and WhatsApp,</a> the entities will now help support consumer businesses. <div type="Article" hostid="261" msid="75548041" title="Both Silver Lake and Mukesh Ambani hope that Reliance Jio will replicate Alibaba's magic⁠ — and this time Zuckerberg will get a chunk" mstype="2" mssubtype="0"></div> The ten-year old Netmeds Founded in 2010 by Pradeep Dadha, the startup has so far raised about $100 million from investors like Sistema Asia Fund, Cambodian investment company Tanncam, private equity firm OrbiMed and others. The company claims to deliver products to over 19,000 pin codes across the country and has a 4 million user base. But this isn’t the first pharma related acquisition by Reliance. In 2019, Reliance had acquired 82% stake in C-Square solutions, a Bengaluru-based startup which provides software solutions to pharma companies. Reliance has also been strengthening its position in e-commerce by acquiring companies like e-commerce platform Fynd, digital solutions startup NowFloats, grocery delivery startup Grab, and AI-based chat solutions company Haptik. See Also: <a href="https://www.businessinsider.in/international/news/facebook-google-apple-and-microsoft-paid-h1-b-workers-below-market-wages-says-a-new-report/articleshow/75567713.cms">Facebook, Google, Apple and Microsoft paid H1-B workers below market wages, says a new report</a> <a href="https://www.businessinsider.in/business/corporates/news/both-silver-lake-and-mukesh-ambani-hope-that-reliance-jio-will-replicate-alibabas-magic-and-this-time-zuckerberg-will-get-a-chunk/articleshow/75548041.cms">Both Silver Lake and Mukesh Ambani hope that Reliance Jio will replicate Alibaba's magic⁠ — and this time Zuckerberg will get a chunk</a>

Netmeds partnered with Reliance Retail in April⁠— now Mukesh Ambani reportedly wants a stake

<ul><li>Airtel and Reliance Jio have introduced plans for their prepaid users. </li><li>The plans offer additional benefits with high-speed data and unlimited voice calls. </li><li>You can purchase the plans from the official websites or applications of both Airtel and Jio.</li></ul>Soon after the rival Reliance Jio released Independence Day offers for its prepaid subscribers, the telecom service giant Airtel also launched two new plans for its prepaid users. Priced at a reasonable rate of ₹519 and ₹779 only, Airtel is offering several benefits for its users. On the other hand, Reliance Jio introduced a plan of ₹750 and ₹2999. Both the telecom giants have offered plans packed with benefits at a reasonable price. Airtel ₹519 plan This plan comes with a validity period of 60 days. Users who choose this plan can use 1.5GB of data and send up to 100 messages daily. Also, it offers unlimited voice calling. Prepaid users can get free Apollo 24/7 Circle for three months, free hello tunes, and a cashback of 100 on FASTag. Airtel ₹779 plan This plan comes with a validity period of 90 days. Users who choose this plan can use 1.5GB of data and send up to 100 messages daily. Also, it offers unlimited voice calling. Prepaid users can get free Apollo 24/7 Circle for three months, free hello tunes, and a cashback of 100 on FASTag. Jio ₹750 plan This plan comes with a validity of 90 days. In celebration of Independence Day, Reliance Jio introduced this plan. Users can use up to 2GB of data and send 100 messages per day. On recharge of ₹750, Reliance Jio will offer two plans, one at ₹749 and the other at ₹1- <ul><li>Plan 1: ₹749 – 2GB/ day, unlimited Voice, 100 SMS/ day, validity 90 days.</li><li>Plan 2: ₹1 – 100 MB data, validity 90 days.</li></ul>You can also avail additional benefits like Jio Security and Jio TV, and Jio Cinema subscriptions. Jio ₹2999 plan This plan comes with a validity of 365 days. You can use up to 2.5GB of data and send 100 messages daily. Also, it offers unlimited voice calling. <ul><li>Jio Independence offer- You can avail benefits worth ₹3000 -75GB of additional data, coupons from Ajio, Netmeds and Ixigo.</li><li>Get a Disney+ Hotstar mobile subscription worth ₹499 for one year.</li></ul>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/how-to-use-digiyatra-app-for-facial-recognition-to-make-airport-check-ins-faster/articleshow/93591269.cms" style="">DigiYatra app will use facial recognition to make airport check-ins faster - here’s how to use it</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/ather-450x-gen-3-vs-ola-s1-vs-tvs-iqube-s-electric-scooters-comparison-of-price-and-features/articleshow/93594152.cms" style="">Ather 450X Gen 3 vs Ola S1 vs TVS iQube S – price, specs and features compared</a>

New Airtel and Reliance Jio prepaid plans compared

<ul><li>The e-commerce debut of <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword>, is being touted by analysts as the real digital powerhouse for the RIL family. </li><li>Having started with a beta launch in December 2019, <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword> officially rolled out to users across the country in May, 2020. </li><li>JioMart went into a fast expansion mode during the coronavirus lockdown in India and has managed to gain an early mover advantage in the country’s smaller towns.</li></ul>JioMart – <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s ambitious e-commerce bet has taken off and how! Having started with a beta launch in December 2019, JioMart officially rolled out to users across the country in May, 2020 and it already has a million daily active users, and 2.3 million active users every month, according to a JPMorgan report. The same report said that, JioMart has already crossed BigBasket and Grofers in terms of daily active users and falls behind Swiggy. Business Insider reached out to BigBasket and Grofers for their comments regarding their daily active users, both the players declined to comment. India’s online grocery segment: The players <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;">Company </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;">Launch date </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;">Presence (no. of cities) </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;">App downloads </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;">Amazon Fresh </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;">August, 2019 </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;">9 </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;">314 million (for Amazon) </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;">Flipkart Supermart </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;">November, 2017 </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;">5 </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;">361 million (for 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;">Swiggy Stores </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;">February, 2019 </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;">30 </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;">89 million (for Swiggy) </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;">BigBasket </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;">October, 2011 </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;">26 </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;">34 million </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;">Grofers </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;">December, 2013 </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;">30 </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;">30 million </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;">JioMart </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;">December, 2019 </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;">200+ </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;">4 million </td></tr></tbody></table>As of December 8, 2020. Source: JPMorgan While other entrenched players like Big Basket and Grofers, who have been around for much longer, still have 7-8 times more app downloads, the rise of JioMart in the last six months only reflects the speed at which Ambani has tried to push his <keyword id="436047" type="COMPANY" weightage="20" keywordseo="Ecommerce">ecommerce</keyword> dream. Since its launch, in every three downloads of any online groceries app, two of them have been the one from the house of Reliance Industries (RIL). <div type="image" title="Jiomart downloads." msid="79922658" hostid="261"></div> Even the mightiest need to hustle sometimes JioMart in India sees competition from many players who have existed and dominated the Indian e-commerce market for a long time – including the likes of Amazon and Flipkart. And so, as Ambani, Asia’s richest man, threw his hat into this ring, he decided to go all out: both in the big cities of India and beyond. JioMart operates with an <a href="https://www.businessinsider.in/business/ecommerce/news/heres-what-gives-jiomart-an-edge-over-its-competitors-according-to-goldman-sachs/articleshow/79054698.cms">omnichannel</a> flow where it has tied up with kirana stores (mom-and-pop stores) and also uses inventory from Reliance Retail outlets. Ambani’s e-commerce bet made a soft launch in December 2019 in select areas of Thane, Navi Mumbai, and Kalyan. But as the coronavirus lockdown began and the opportunities in e-grocery became more evident, JioMart was quick to act and expanded to over 200 cities. This fast growth across India has given JioMart an early-mover advantage in India’s smaller towns, say analysts at JP Morgan. Given the progress of JioMart in the first year, analysts at JPMorgan peg that Reliance’s e-commerce business may earn an annual revenue of over $59 billion and the net worth may hit $145 billion in the next ten years. A Goldman Sachs report from November 2020 had pegged this omnichannel capability ⁠— using different channels for distribution, both online and offline ⁠— as the reason for JioMart’s growth. “India has 10 million kirana stores, which account for 90% of grocery retail in the country. JioMart has already launched in more than 200 cities, leveraging Reliance Retail’s store network, with kirana partnerships across 20 cities,” said the Goldman Sachs report. JioMart is not just stretching far and wide, it’s also building strength via partnerships and acquisitions Ambani is not just going for geographic expansion but he is also on a spending spree to boost JioMart’s offerings to its customers. According to JPMorgan, JioMart’s stock keeping units (SKU) is only second to Big Basket. However, the comparison didn’t include players like Flipkart, DMart and other new entrants like Swiggy and Zomato. JioMart, with access to the deep pockets of one of the world’s richest man – Mukesh Ambani, has managed to successfully partner up with another of the world’s richest man – Facebook founder Mark Zuckerberg. Facebook pumped in $5.7 billion into Reliance Jio in April 2020, with WhatsApp’s integration with JioMart being a prime focus of the deal. It’s set to be a win-win for both Ambani and Zuckerberg – where Reliance can take advantage of WhatsApp’s 400 million user base to acquire more customers. On the other hand, WhatsApp Pay, Facebook’s debut in the payments segment, will benefit from integrating with JioMart for payments. Another early acquisition made by the company was that of the Mumbai-based Grab-a-Grub. In 2019, Reliance pumped in $15 million for 83% stake in the hyperlocal delivery startup. Reliance has also acquired online pharmacy company <a href="https://www.businessinsider.in/business/startups/news/with-reliance-buying-netmeds-and-pharmeasy-merging-with-medlife-amazon-and-flipkart-are-in-for-a-tougher-competition-than-they-would-like/articleshow/77625512.cms">NetMeds</a>, picked up a stake in online lingerie retailer Zivame, and online furniture retailer <a href="https://www.businessinsider.in/retail/news/reliance-retail-acquires-urban-ladder-for-182-crore-at-a-sixth-of-the-startups-peak-valuation-in-2018/articleshow/79230550.cms">Urban Ladder</a>, all of which could further bolster its e-commerce foothold. The acquisition of Kishore Biyani’s Future Retail for almost ₹25,000 crore also gives JioMart access to BigBazaar stores across the country as well. However, Ambani and Biyani are in a <a href="https://www.businessinsider.in/business/news/amazon-got-an-operation-successful-patient-dead-verdict-lawyers-say-the-delhi-high-court-order-is-actually-a-win-for-kishore-biyani-and-future-group/articleshow/79842995.cms">legal battle with Amazon</a> that has challenged the deal both in India and abroad. SEE ALSO: <a href="https://www.businessinsider.in/business/news/amazon-got-an-operation-successful-patient-dead-verdict-lawyers-say-the-delhi-high-court-order-is-actually-a-win-for-kishore-biyani-and-future-group/articleshow/79842995.cms">Amazon got an “operation successful, patient dead” verdict ⁠— Lawyers say the Delhi High Court order is actually a win for Kishore Biyani and Future Group</a> <a href="https://www.businessinsider.in/finance/banks/news/rbi-warns-people-against-unauthorized-digital-lending-apps-that-promise-quick-loans/articleshow/79919474.cms">India’s central bank warns people against unauthorized digital lending apps that promise quick loans</a>

Mukesh Ambani is taking e-tail by storm⁠ — JioMart already has more daily active users than BigBasket and Grofers

<ul><li>The barely one-year old <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword> will pose a tough competition to <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> and <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>'s years of experience.</li><li>JioMart has recently forayed into fashion, consumer electronics while it continues to bet on the grocery segment. </li><li>But it's experiments come right before the festive season – with Diwali and Dussehra around the corner.</li></ul>Mukesh Ambani’s JioMart has many things in its favour – billions of funding, technological prowess backed by Facebook and Google, and Reliance’s already existing reach across 6,700 cities in India. But during this festive season, the barely one-year-old JioMart will try to give a tough competition to Amazon and Flipkart’s years of experience. JioMart has recently forayed into fashion, consumer electronics while it continues to bet on the grocery segment. And it's experiments with fashion come right before the festive season – with Diwali and Dussehra around the corner. With the year having seen tepid retail sales so far, the festive push is what every e-commerce platform will be gunning for. Sale, sale, sale Reliance’s recent acquisition of Future Retail and its existing apparel offerings through Reliance Trends, Ajio.com are sure to back up JioMart’s offerings. According to an <a href="https://www.timesnownews.com/business-economy/companies/article/this-festive-season-you-may-get-more-discounts-at-jiomart-than-amazon-flipkart-as-reliance-retail-wages-price-war/659002">ET report</a>, JioMart is also getting ready with deep discounts across fashion and consumer electronics to counter Amazon and Flipkart’s sales. JioMart will be able to leverage its partner brands to offer deals and discounts. <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;">Reliance’s e-commerce offerings </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;">Jio Mart </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;">Ajio.com </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;">Reliance digital </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;">Home Shop18 </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;">BookMyShow </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;">Reliancesmart.in </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;">NetMeds </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;">Zivame </td></tr></tbody></table> While JioMart just concluded its ‘Festive Ready Sale’ from October 2nd-4th, more sale events from the platform are said to be on the cards. Meanwhile, Flipkart is getting ready with its marquee festive event – Big Billion Day sale, set to begin on October 16. Amazon, too is going to announce the dates for its Great Indian Shopping Festival soon. Ramping up grocery But that’s not it. While diversifying its offerings across categories, JioMart is also doubling down on its grocery segment. According to <a href="https://yourstory.com/2020/10/jiomart-subscription-milk-bread-deliveries-bengaluru-chennai">reports</a>, JioMart is also working on a subscription-based model for dairy delivery – quite similar to MilkBasket and Big Basket offerings. It's also <a href="https://timesofindia.indiatimes.com/business/india-business/jiomart-bets-on-private-labels/articleshow/78455174.cms">reportedly </a>working on private label offerings – a path that its peers in grocery BigBasket and Grofers have already taken up successfully. SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-ditches-viacom18-merger-talks-with-sony-has-its-eyes-set-on-building-indias-no-1-ott-and-broadcast-platform/articleshow/78491844.cms">Reliance ditches Viacom18 merger talks with Sony – has its eyes set on building India's No.1 OTT and broadcast platform</a> <a href="https://www.businessinsider.in/tech/news/vijay-shekhar-sharma-fires-the-shots-paytm-launches-its-own-android-mini-app-store-to-take-on-google/articleshow/78484994.cms">Vijay Shekhar Sharma fires the shots – Paytm launches its own Android mini-app store to take on Google</a>

JioMart gets ready for its festive sale debut amidst tough competition from Amazon and Flipkart

<ul><li>Metropolis is committed to expanding its reach, strengthening its portfolio, and driving sustainable growth.</li><li>Even though Reliance’s Netmeds is offering lower prices, Metropolis has strategically positioned itself to cater to the top end of the market, focusing on high-quality services and specialised tests.</li><li>Company plans to repay ₹40 crore outstanding debt by the end of this fiscal before it goes after new acquisitions. </li></ul> The one sector that did brisk business during the pandemic was diagnostics, as people queued up to get tested for Covid. As the healthcare sector’s capacity came under enormous strain, new players entered the <keyword id="10985234" type="General" weightage="60" keywordseo="diagnostics-sector" source="Orion">diagnostics sector</keyword> to capitalise on the boom, as Indians became more conscious about health and wellness. The stocks of these companies have also rallied between 25-35% in the last six months, even though competitive intensity has sharply risen with new players entering the sector. Business Insider caught up with <keyword id="584350" type="General" weightage="70" keywordseo="ameera-shah" source="Orion">Ameera Shah</keyword> promoter and Managing Director of <keyword id="178996" type="General" weightage="80" keywordseo="Metropolis-Healthcare" source="Orion">Metropolis Healthcare</keyword> along with the company’s CEO <keyword id="15740822" type="General" weightage="40" keywordseo="Surendran-Chemmenkotil" source="Orion">Surendran Chemmenkotil</keyword> to understand if the sector is still in the pink of health after the pandemic. Typically, private equity investments in a sector and increased competitive intensity inevitably leads to a price war, but Shah says Metropolis has strategically positioned itself to cater to the top end of the market, focusing on high-quality services and specialised tests. In a recent interview with BI India, Shah shed light on the impact of competition in the sector and the company's future plans to create more value for customers and investors. Despite all the noise around new age tech players that are doing a lot of bundling of tests at significantly lower prices, Shah says, Metropolis is committed to expanding its reach, strengthening its portfolio, and driving sustainable growth. Impact of Competition in the Diagnostic Sector Competition in the diagnostic sector has been steadily increasing since 2010, with the first private equity investment occurring in 2006. As the industry started to grow, more private equity companies began investing, and numerous new players entered the market. To compete effectively, many local and regional players have resorted to price competition, leveraging lower prices as a means to attract customers. While this has led to a decline in net prices, the distribution margin has increased. Shah emphasises that Metropolis has chosen to focus on the top hospitals, doctors, and corporates as its core customer base, thereby targeting the top end of the market. By providing the best infrastructure, technology, pathologists, and logistics, Metropolis has established itself as a trusted partner for these high-end customers. However, Shah highlighted that talent scarcity was a significant challenge in the sector till recently and attrition rates were high. Furthermore, the entry of tech players during the COVID-19 pandemic, offering home services, temporarily disrupted the market. However, the demand for home services has declined post-pandemic, affecting these tech companies. Shah also mentioned that certain healthcare and non-healthcare companies have set up diagnostic chains, primarily focusing on the lower-margin segment of the market. In contrast, Metropolis remains committed to its high-touch model, prioritising customer needs and human expertise. In its latest quarterly analysis, Kotak Institutional Equities says that the worst of the pricing-led competition in diagnostics is behind the industry, but it is still far from a benign pricing environment. Reliance’s Netmeds has upped the ante in the last few months with pricing now 25-65% lower than Tata 1mg and other national incumbents, respectively. KIE says that after dropping prices in Delhi NCR by 15% in 1QFY24, seemingly on an experimental basis, Metropolis has raised prices in 2QFY24. Its pricing remained largely unchanged in other cities. Metropolis' Future Plans: Metropolis has outlined several strategies to drive growth and maintain its position as a leader in the diagnostic sector. The company aims to increase its reach by opening new labs and service centres, with a target of establishing 90 labs within 30 months. Already having added 30 labs, Metropolis plans to add another 60 in the near future. Additionally, the company plans to expand geographically, both deeper in existing markets and wider in new geographies. Metropolis has 180 labs in all and the company has added 45 ew labs in the last one year and will be adding another 45 labs in the coming months. It has 3700 collection centres every year it plans to add 700 new centres. Explaining the company’s growth plans, Surendran Chemmenkotil says:“We plan to increase reach by opening new labs and service centres. We are strong in the West and South. Expansion geographically is one key strategy to grow. We will go deeper in our existing markets and wider in new geographies. We want to increase wellness revenue in the coming years. Once a consumer takes a wellness package, quite likely they will keep coming back from more, which will help build a sustainable revenue stream.” Recognizing the potential of wellness services, Metropolis aims to increase wellness revenue from the current 14% to 20% in the coming years. By offering comprehensive wellness packages, the company aims to build a sustainable revenue stream, as customers who opt for wellness packages are likely to return for further services. Metropolis also continues to strengthen its portfolio of specialised tests by engaging with specialty doctors and adding new tests, including genetic testing for critical illnesses. Despite the challenges posed by the accelerated rate of expansion, Metropolis remains confident in its financial performance. Explains Shah: “While margins have slightly declined, primarily due to the opening of new labs, the core EBITDA remains unaffected. We plan to repay Rs 40 crore debt we have on our books by the end of this year.” The company is not just content expanding across new and existing markets, it is also on the lookout for <keyword id="30334" type="General" weightage="40" keywordseo="acquisition" source="Orion">acquisition</keyword>s to boost market-share. The company's robust cash flow allows for debt repayment and provides opportunities for potential acquisitions. Says Shah: “We have debt of Rs 40 crore from the acquisition of Hitech Diagnostics, which we will repay by end of fiscal. Our free cash flows after that will be available for potential acquisitions. While large deals are available right now in the market, we will not look at them.” If Metropolis continues to focus on the top end of the market by expanding its portfolio of specialised tests, it will not have to enter into a price war with new age players with deep pockets.

Metropolis on the prowl for acquisitions as sector's competitive intensity eases

<ul><li>Currently, under a pilot run in Bengaluru, <keyword id="8628111" type="UNKNOWN" weightage="20" keywordseo="Amazon-Pharmacy">Amazon Pharmacy</keyword> is offering home medical supplies, healthcare packages, prescription medication, and healthcare devices.</li><li><keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>’s foray into medicine delivery comes at a time when India already has startups like NetMeds, Medlife, 1mg, Pharmeasy, along with Reliance Jio eyeing to enter the market. </li><li>Globally, in 2018, Amazon had acquired the US-based online pharmacy startup Pillpack for $753 million.</li></ul>Global e-commerce giant Amazon has launched online pharmacy services in India. Currently, under a pilot run in Bengaluru, Amazon Pharmacy is offering home medical supplies, healthcare packages, prescription medication, and healthcare devices, according to <a href="https://entrackr.com/2020/08/exclusive-amazon-launches-online-pharmacy-service-in-bengaluru/">Entrackr.</a> “As a part of our commitment to fulfill the needs of customers, we are launching Amazon Pharmacy in Bangalore allowing customers to order prescription-based medication in addition to over-the-counter medicines, basic health devices, and Ayurveda medication from certified sellers. This is particularly relevant in present times as it will help customers meet their essential needs while staying safe at home,” said an Amazon spokesperson. India’s health-tech industry is expected to grow to $372 billion by 2022 and is expected to create 40 million jobs by 2030, according to a report by Invest India. Amazon’s foray into medicine delivery comes at a time when India already has startups like NetMeds, Medlife, 1mg, Pharmeasy, and others, which have made a mark in the segment. Additionally, Reliance Jio has also been eyeing the medicine delivery segment and has reportedly been in <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/with-ril-eyeing-netmeds-deal-epharmacy-in-for-consolidation/articleshow/77341675.cms">talks with NetMeds</a> for a possible acquisition. So while Amazon and Reliance could possibly be preparing for another face-off, Amazon comes with the experience of medicine delivery from its global operations. In 2018, Amazon had acquired the US-based online pharmacy startup Pillpack for $753 million. Through the acquisition, the e-commerce giant has been looking at selling prescribed medicines to health plans and employers. Globally, its medicine unit is called Amazon Care. In the US, Amazon Alexa is also <a href="https://intelligence.businessinsider.com/post/what-amazons-2019-health-push-means-for-2020-2019-predictions-we-got-wrong-why-new-fda-commissioner-will-push-digital-health-forward-2019-12">HIPAA</a> (Health Insurance Portability and Accountability Act of the US) compliant, which means that it can access healthcare information and book doctor’s appointments or access reports of individuals. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/masayoshi-son-best-bet-for-future-profit-is-paypay-in-japan-built-on-vijay-shekhar-sharma-paytm-model-in-india/articleshow/77518892.cms">Masayoshi Son’s best bet for future profit is PayPay in Japan⁠ — built on Vijay Shekhar Sharma’s Paytm model in India</a> <a href="https://www.businessinsider.in/business/ecommerce/news/indian-e-commerce-industry-has-got-amazon-walmart-and-facebook-betting-on-it-but-it-wont-be-an-easy-ride/articleshow/77193430.cms">India's e-commerce industry has got Amazon, Walmart, and Facebook betting on it – but it won't be an easy ride</a>

Amazon's India foray into medicine delivery is in-line with its global healthcare bets

<ul class="summary-list"><li><keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword> is looking to invest nearly $100 million in Apollo <keyword id="6379262" type="UNKNOWN" weightage="60" keywordseo="Pharmacy">Pharmacy</keyword>, the Indian pharmacy chain, two people familiar with the plans <a href="https://economictimes.indiatimes.com/tech/technology/amazon-eyes-a-big-pharmacy-bet-to-take-on-reliance-tata-group/articleshow/79634211.cms">told</a> the Economic Times Wednesday.</li><li>Amazon's plans to expand in <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword> come after the launch of its own <a href="https://www.businessinsider.com/amazon-starts-selling-prescription-medication-in-us-2020-11">Amazon Pharmacy</a> service in the US November 17, allowing people to buy prescription <keyword id="14721" type="COMPANY" weightage="60" keywordseo="Drugs">drugs</keyword> through its website.</li><li>The potential <keyword id="6355120" type="UNKNOWN" weightage="60" keywordseo="investment">investment</keyword> would come amid competition in India from Mukesh Ambani's Reliance, which recently bought a majority stake in <keyword id="22508" type="ORGANIZATION" weightage="60" keywordseo="online">online</keyword> pharmacy Netmeds.</li><li>Indian trader groups say online drugstores can contribute to medicine sales without proper verification.</li></ul>Amazon is reportedly considering a nearly $100 million investment in India's pharmacy chain Apollo Pharmacy, close on the heels of its launch of an online pharmacy to deliver prescription drugs in the US.The company is looking to face up to Reliance Industries Ltd and Tata Group in India's fast-growing drug market, the Economic Times <a href="https://economictimes.indiatimes.com/tech/technology/amazon-eyes-a-big-pharmacy-bet-to-take-on-reliance-tata-group/articleshow/79634211.cms">reported</a> Wednesday, citing two people aware of the plans. Amazon already delivers medicines in India and the potential investment would come amid rising competition from Mukesh Ambani's Reliance, which bought a majority stake in online pharmacy Netmeds.Both Amazon and Apollo Hospitals, which owns Apollo Pharmacy, declined to comment to Reuters.The growth of e-pharmacies has left many Indian trader groups feeling threatened. They say online drugstores can contribute to medicine sales without proper verification and the entry of large players can cause unemployment in the sector.Amazon's plan to further expand in India comes after it launched its US <a href="https://www.businessinsider.com/amazon-starts-selling-prescription-medication-in-us-2020-11">Amazon Pharmacy service</a> November 17, increasing its competition with drug retailers such as Walgreens, CVS Health and Walmart.US customers can now buy drugs through Amazon's main website.Amazon Prime members would get benefits from the service including two-day delivery and big price cuts on generic and brand-name drugs, the company <a href="https://press.aboutamazon.com/news-releases/news-release-details/introducing-amazon-pharmacy-prescription-medications-delivered?tag=bisafetynet2-20">said</a>.Read more: <a href="https://www.businessinsider.com/amazon-web-services-memo-outage-customer-talking-points-2020-12?r=kd-sub">Read the leaked talking points that Amazon Web Services employees are using to explain its recent massive cloud outage: 'There is no compression algorithm for experience'</a>Since 2018, when the company <a href="https://www.businessinsider.com/amazon-pharmacy-pillpack-acquisition-merger-latest-push-into-healthcare-2018-6">bought a small drug-delivery startup called PillPack</a>, industry watchers have been expecting Amazon to move into delivering drugs.In June 2019, Amazon <a href="https://www.investopedia.com/news/amazon-launches-its-own-line-overthecounter-drugs/">launched a brand of over-the-counter medication,</a> and in August 2020, the company <a href="https://www.businessinsider.com/amazon-halo-app-wristband-launch-detect-mood-speech-body-fat-2020-8">launched a health-monitoring wristband called Halo</a>.Business Insider <a href="https://www.businessinsider.com/amazon-pharmacy-prime-test-of-public-trust-2020-11">reported</a> in November that as the <keyword id="6354851" type="UNKNOWN" weightage="100" keywordseo="retail">retail</keyword> firm expands into healthcare, it would need to be careful not to scare consumers who may be concerned about their data privacy.

Amazon is reportedly eyeing a $100 million investment in the Apollo Pharmacy chain, further expanding its healthcare plans

<ul><li>The BSE Sensex was trading 0.57% higher at 38,746.09.</li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices Sensex jumped over 200 points in early trade on Wednesday tracking positive cues from global markets and foreign fund inflows. The BSE Sensex was trading 0.57% higher at 38,746.09; while Nifty50 was up 0.56% at 11,448.95. SBI was the top gainer in the Sensex pack, rising around 2%, followed by L&amp;T, M&amp;M, ICICI Bank, Sun Pharma, Axis Bank, ITC and Bajaj Auto. On the other hand, HCL Tech, Nestle India, Tata Steel, Kotak Bank, and Infosys were among the top losers. These are the top stocks that are buzzing the D-street today. SBI shares up over 2% during the initial trade hours <div type="image" title="SBI August 19" msid="77627266" hostid="261"></div> State Bank of India shares gained over 2% after news surfaced that SBI is raising up to ₹10,000 crore in a bond sale. According to <a href="https://economictimes.indiatimes.com/markets/bonds/sbi-to-raise-up-to-rs-10000-crore-through-issue-of-tier-ii-bonds/articleshow/77625108.cms">reports</a>, it is this year’s first bond sale by the country’s biggest mass-lender and is expected to draw large domestic institutional investors, such as state-owned LIC and EPFO. Zee Entertainment shares gained over 4% <div type="image" title="Zee Enter" msid="77627333" hostid="261"></div> Despite posting 94.3 % fall in its net profit to ₹30.4 crore, Zee Entertainment shares were up 4%. The company has appointed Subhash Chandra as Chairman Emeritus and R Gopalan as Chairman of the board. Brokerage house Emkay believes that consistency and delivery will win back trust, they maintain ‘Hold’ rating with target at ₹190. Kotak also believes that this is a step in the right direction, but few more needed for further re-rating. Yes Bank shares advance 5% <div type="image" title="Yes bank August 19" msid="77627813" hostid="261"></div> Yes Bank shares soared 5% after the private sector lender repaid the central bank’s ₹35,000 crore out of the ₹50,000 crore of Special Liquidity Facility. It also divested more than 8% stake worth over ₹75 crore in CG Power and Industrial Solutions through open market transactions. Indiabulls shares opened 2% higher <div type="image" title="Indiabulls" msid="77627848" hostid="261"></div> Indiabulls was up 2% during the early trade hours after the Bengaluru-based realty firm Embassy Group signed an agreement to merge its various housing and commercial projects with Indiabulls Real Estate Ltd (IBREL) and take control of the merged entity. Embassy Group already has around 14% stake in Mumbai-based IBREL, and the same will increase to 45% after the merger of assets of these two companies. RIL shares up 1% after Netmeds acquisition <div type="image" title="RIL August 19" msid="77627935" hostid="261"></div> Reliance Industries shares gained nearly 1% after its subsidiary Reliance Retail Ventures Limited (RRVL) had acquired a majority equity stake in Vitalic Health Pvt Ltd and its subsidiaries (collectively known as Netmeds) for a cash consideration of approximately ₹620 crore. ICICI gained 2% in initial trading <div type="image" title="ICICI Bank August 19" msid="77627981" hostid="261"></div> ICICI Bank shares soared 2% after the Chinese central bank, People’s Bank of China acquired a very small stake in ICICI Bank through the recently closed ₹ 15,000 crore share sale by the country’s second-largest private sector lender. Uflex shares gained 6% <div type="image" title="uflex August 19" msid="77628006" hostid="261"></div> The packaging materials and solution company Uflex shares touched 52-week high after it reported over two-fold jump in its consolidated net profit to ₹196.54 crore for the first quarter ended June 30 Dilip Buildcon shares gained 4% <div type="image" title="Dilip August 19" msid="77628035" hostid="261"></div> Dilip Buildcon shares gained 4% after the company said it has received a letter of acceptance (LoA) for a new project worth ₹1,334.95 crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/ril-icici-bank-zee-ent-ruchi-soya-dixon-tech-cg-power-muthoot-finance-top-stocks-to-watch-today/slidelist/77625323.cms" data-type="tilCustomLink">Top stocks to watch today— RIL, ICICI Bank, Zee Ent, Ruchi Soya, Dixon Tech, CG Power, Muthoot Finance and more</a> <a href="https://www.businessinsider.in/business/startups/news/with-reliance-buying-netmeds-and-pharmeasy-merging-with-medlife-amazon-and-flipkart-are-in-for-a-tougher-competition-than-they-would-like/articleshow/77625512.cms" data-type="tilCustomLink">With Reliance buying Netmeds and PharmEasy merging with MedLife, Amazon and Flipkart are in for a tougher competition than they would like</a>

Top stock movers on Dalal Street today —SBI, Yes Bank, Indiabulls, RIL, Uflex and more

<ul><li>Amazon recently acquired Perpule, a retail tech startup and reportedly paid $14.7 million for it.</li><li>The latest acquisition comes as Amazon gets ready to further go deep into India’s retail industry, where it is already fighting with Ambani’s Reliance.</li><li>Early this month, Amazon had made its first investment in an Indian consumer brand – MyGlamm.</li></ul>Amazon, which has already pumped in billions of dollars into India, is now turning towards the country’s <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> as it accelerates the retail war against Asia’s richest man Mukesh Ambani. The US-based e-commerce titan recently acquired Perpule, a retail-tech startup and <a href="https://techcrunch.com/2021/03/30/amazon-acquires-indian-retail-startup-perpule/">reportedly</a> paid $14.7 million for it. Perpule, which was founded in 2016, claims to have built India's first self-checkout solution and then scaled that into an end to end billing platform called UltraPOS (POS stands for Point of Sale). This has been implemented by popular retail brands such as Big Bazaar, Shoppers Stop, Starbucks, HyperCity, Vishal MegaMart, among others. And it was this software that caught Amazon’s attention and the POS team is joining Amazon. “Perpule has built an innovative cloud-based POS offering that enables offline stores in India to better manage their inventory, checkout process, and overall customer experience. We are excited to have the Perpule team join us to focus on providing growth opportunities for businesses of all sizes in India while raising the bar of the shopping experience for Indian customers,” said an Amazon spokesperson. <cmsannotation type="cmsannotation" annotationid="Amazon vs Ambani – startup acquisitions and investments" comment="subhead" text="Amazon vs Ambani – startup acquisitions and investments"><keyword id="11021281" type="UNKNOWN" weightage="20" keywordseo="amazon-vs-ambani">Amazon vs Ambani</keyword> – startup acquisitions and investments</cmsannotation> The latest acquisition comes as Amazon gets ready to go further deep into India’s retail industry, where it is already fighting with Ambani’s JioMart. Amazon had earlier picked up a 49% stake in Kishore Biyani’s Future Group’s – Future Coupons for ₹1,431 crore. But when Future Retail, another Future Group company, got acquired by Reliance, it led to a long legal battle with Amazon. Jeff Bezos-led Amazon is actively looking at startups in India for acquisitions and investments, much like its rival Ambani’s Reliance Industries, which in the last year has gobbled up startups like Urban Ladder, Netmeds and many more. Earlier this month, Amazon had made its first investment in an Indian consumer brand – MyGlamm, which raised ₹175 crore from Amazon, Wipro Consumer and Ascent Capital. However, Amazon’s individual investment amount remains undisclosed. Amazon also counts investments in the likes of insurtech firm BankBazaar, home services startup HouseJoy among others. The e-commerce giant has also launched an early-stage accelerator programme Amazon Global Selling Propel (AGSP), where startups can pitch their businesses to VC firms like Sequoia Capital India and Fireside Ventures. The startups will also get a chance to win $50,000 in an equity-free grant from Amazon. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/inside-ritesh-agarwals-family-office-aroa-ventures-and-its-early-investments/articleshow/81772098.cms">EXCLUSIVE: Inside Ritesh Agarwal’s family office and its early investments</a>

Amazon is eyeing India's startups as it gears up for a fight with Asia's richest man in retail

<ul><li>A few sellers have sent the company a legal notice demanding their <keyword id="6359540" type="PERSON" weightage="20" keywordseo="payments">payments</keyword> to be released. </li><li>Recently, the All India Online Vendors Association (AIOVA) had also formally complained to the Reserve Bank of India regarding the suspension of payments from <keyword id="6016374" type="UNKNOWN" weightage="20" keywordseo="Club-Factory">Club Factory</keyword>.</li><li>Club Factory was one of the <keyword id="6022999" type="UNKNOWN" weightage="20" keywordseo="chinese-apps">Chinese apps</keyword> to be banned by the Indian government in June.</li></ul>Chinese e-commerce platform Club Factory, which was one of the apps banned by the Indian government in June, has been in trouble with its sellers in India over the suspension of payments. And now, a few sellers have sent the company a legal notice demanding that their payments be released. In the legal notice, a copy of which Business Insider has viewed, four sellers have claimed payments worth over ₹2 crore. The legal team which sent the notice told Business Insider that Club Factory has been given 15 days to respond, clear the dues or fight the case. Club Factory has not yet responded to Business Insider’s emails. Recently, the All India Online Vendors Association (AIOVA) has also formally <a href="https://tech.economictimes.indiatimes.com/news/internet/online-sellers-lobby-approaches-rbi-over-non-payment-of-dues-by-club-factory/77527022">complained</a> to the Reserve Bank of India saying that the Chinese e-commerce platform has violated Section 28 of the Payments and Settlements Act, 2007. “The last tranche of payments are pending from Club Factory’s side. They told us they are keeping the payments on hold until the ban is lifted,” a seller told Business Insider, whose pending payments with the company run into lakhs. Days after the ban by the Indian government, reports showed that <a href="https://entrackr.com/2020/07/club-factory-under-scanner-for-possible-gst-violations/#:~:text=Despite%20the%20Indian%20government's%20ban,continued%20to%20run%20its%20operations.&amp;text=Post%20the%20ban%20announced%20last,stop%20working%20with%20Club%20Factory.">Club Factory</a> had continued to operate with cash on delivery options. However, on July 13, the sellers got an email from Club Factory that the company will not be releasing their payments until the ban is lifted, evoking the force majeure clause. Not just that, sellers are also worried about the deposits kept with Club Factory in the form of an escrow account, from where the platform used to release money in parts. SEE ALSO: <a href="https://www.businessinsider.in/retail/news/heres-how-reliance-retail-stacks-up-against-some-of-its-global-peers-walmart-and-tesco/articleshow/77646302.cms">Here’s how Reliance Retail stacks up against some of its global peers – Walmart and Tesco</a> <a href="https://www.businessinsider.in/business/startups/news/with-reliance-buying-netmeds-and-pharmeasy-merging-with-medlife-amazon-and-flipkart-are-in-for-a-tougher-competition-than-they-would-like/articleshow/77625512.cms">With Reliance buying Netmeds and PharmEasy merging with MedLife, Amazon and Flipkart are in for a tougher competition than they would like</a>

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