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
An online survey of more than 33,000 respondents conducted between October 13 and November 16, 2016 by Edelman, the world’s largest public relations firm, and reported in the 2017 Edelman Trust Barometer, revealed that trust is in crisis around the world, and the largest-ever drop in trust was recorded across the institutions of government, business, media and NGOs.
- The Indian government is the second most trusted by its own citizensafter China
- Of the 28 countries, there was distrust in government in 75 percent of them
- Trust levels decreased to 47 percent this year from 50 percent in 2016
- CEO credibility dropped 12 points globally to an all-time low of 37 per cent, plummeting in every country studied
- Government leaders remain least credible
- Trust in business dropped in 18 countries, while NGOs saw drop-offs as high as 10 points across 21 countries
- Half of the countries surveyed have lost faith in the system, led by France (72 percent) and Italy (72 percent), Mexico (67 percent), South Africa (67 percent) and Spain (67 percent)
February 7, 2017 No Comments
The Singapore and India-based private equity firm Everstone Capital invested $33 million in contract research and drug delivery company Rubicon Research, in a bid to diversify its portfolio. Rubicon has a USFDA-approved manufacturing plant in Mumbai, and it provides solutions for bioavailability enhancement, gastric retention, taste masking, and customizing the release profiles of drugs. It also offers life cycle management services for pharmaceutical products.
“We welcome this partnership with Everstone and believe, with their deep managerial and operational expertise, capital infusion, and global connectivity, we will be able to significantly accelerate our growth,” said Pratibha Pilgaonkar, chief executive, Rubicon Research.
Founded by former Goldman Sachs executives, Sameer Sain and Atul Kapoor in 2006, the private equity firm has stepped up its deal making pace this calendar year, reports the Economic Times. Brooks Entwistle is a partner and Chief Executive Officer of The Everstone Group.
November 4, 2016 No Comments
India jumped 16 places to number 39 out of 138 countries rated in the World Economic Forum’s competitiveness ranking, due mainly to better infrastructure and strong economic growth. In the World Competitiveness Report 2016-2017 rankings are made on the assessment of 12 parameters: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation.
India has made significant progress on infrastructure, one of the pillars where it ranked worst,” said the report.
Switzerland, Singapore and the U.S. were ranked first, second and third, respectively. China was ranked 28th, Sri Lanka was 71st, while Pakistan ranked 122nd.
The report also highlighted some of the remaining problems of doing business in India: confusing tax regulations, corruption and others, says the Wall Street Journal.
October 4, 2016 No Comments
India’s e-tailer Flipkart crossed the 100-million registered users mark, becoming the first e-commerce company in the country to hit the milestone.
Its investors include Tiger Global, Naspers, Accel Partners, Morgan Stanley Investment Management, T Rowe, and GIC, Singapore’s sovereign wealth fund.
The Bangalore-based company doubled its user base over the last year and added 25 million users in the past six months. A recent Bank of America Merrill Lynch Report pegs Flipkart as the leader with over 43 percent market share, and predicts that by 2019, Flipkart will increase its share to 44 per cent.
The Hindu reports that e-commerce companies in India have witnessed tremendous growth on the back of strong demand for smartphones and increasing data usage. India, which is among the fastest growing e-commerce markets globally, is expected to continue on the growth momentum over the three to five years, it says.
October 3, 2016 No Comments