Category — Consumer Goods
After two years of testing experiments, Japanese multinational electronics corporation Panasonic, headquartered in Kadoma, Osaka, has launched a washing machine especially for India’s consumers.
Panasonic said the introduction of a ‘curry’ button followed complaints from customers struggling to fully get curry stains off their clothes. Panasonic researchers analyzed what went into a typical Indian household’s curry dish, and then tried to establish the optimal time and water temperature required to remove the stains.The machine has five other cycles aimed at the Indian consumer, including one to remove traces of hair oil, reports BBC News.
5,000 ‘StainMaster’ machines priced at $330 were sold so far. The company is planning similar machines for other Asian markets too, tackling stains specific to those countries.
March 20, 2017 No Comments
The Goods and Services Tax (GST) Council has decided “to provide for up to 1 percent Tax Collected at Source” for e-commerce companies, a senior government official explained. The supplier of goods can set off the tax against its final GST liability, and so theoretically, the levy can be even lower than 1 percent. The tax provision will allow authorities to track transactions carried out through e-commerce platforms and ensure compliance.
Morgan Stanley estimates India’s e-commerce market will surge to $119 billion by 2020. The government sees e-commerce as having a huge potential for job creation by providing market access to small entrepreneurs and businesses that would find setting up physical retail establishments too expensive, reports the Economic Times.
March 15, 2017 No Comments
Introducing a multi-modal program to reduce logistics costs and make the economy competitive, India has abandoned its previous “point-to-point” logistics model in favor of a “hub-and-spoke” one, where railways, highways, inland waterways and airports will in tandem to form an effective transportation grid.
Nitin Gadkari, minister for road transport and highways, shipping and ports said in an interview, “It is for the first time that we have taken an integrated approach for the country’s transportation. This will increase India’s exports, provide employment opportunities, will be cost effective, and will make goods cheaper in the country.”
The plan envisages setting up 35 multi-modal logistics parks at an investment of $10 billion for the development of 50 economic corridors. An investment template for the states and the private sector will be prepared. The infrastructure will include installation of cooling plants, cold storage facilities, warehouses, gas stations as also facilities for truck maintenance. These logistics parks will serve as hubs for freight movement enabling freight aggregation and distribution with modern mechanized warehousing space, reports Mint.
March 15, 2017 No Comments
PayTM, a consumer shopping Android app has launched an e-commerce mall modeled on TMall, China’s dominant e-commerce platform. With Alibaba’s and SAIF Partners‘ infusion of $200 million into Paytm, an Indian payment and commerce company based out of Delhi NCR, the company is now valued at $1 billion.
Paytm e-commerce aims to offer 1 billion products from all across the globe to its shopping cart by the festive season in India that starts in August. It plans to bring sellers from Southeast Asia, especially from Alibaba’s other investments such as e-commerce major Lazada in Indonesia. Market sources cite Amazon as having about 500 million products on its platform, while Flipkart and Snapdeal have about 50 million products each.
Paytm has already set up 17 fulfillment centers and 40 courier partners for speedy service as the company aims to dominate the Indian online shopping market, reports Business Standard.
March 4, 2017 No Comments
Logistics companies — both from India and globally — are actively making investment plans for the coming fiscal year.
According to Kuwait-based Agility’s Emerging Markets Logistics Index published in February, India, for the second consecutive year, was picked as the country with the most potential to grow as a logistics market. The report, referenced by Business Standard, surveyed more than 800 supply chain and logistics professionals. It stated that GST would be the potential game-changer and companies will have to re-gear themselves to adjust to the new tax regime. Surveyed entities also indicated that India was the leading emerging market destination for investment by their companies over the next five years.
In 2016, France’s FM Logistics entered the market in India by acquiring Pune-based Spear Logistics, and Stephane Descarpentries, the company’s director-strategic projects and director operations Asia said, “We see a good growth potential for warehousing segment in the domestic market and would have invested even if GST was not round the corner.” The company plans to invest $50 million over next three years to strengthen its warehousing base across the country. “With the e-commerce segment growing in India, we see the need for better warehousing across country and hence this acquistion,” explained Descarpentries. In the short-term, the company plans to invest $5 million over next 8 months on ramping up the custom-built warehouses of Spear Logistics.
Gurgaon-based e-commerce logistics firm SSN Logistics Pvt. Ltd, which owns the brand Delhivery, is in advanced talks to raise $100 million led by private equity firm The Carlyle Group with participation from China’s Fosun, according to a media report cited by VCCircle. If the deal works out, it will mark the largest funding round in the e-commerce logistics space.
March 2, 2017 No Comments