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A huge disruption is underway along the entire auto value chain

The level of tech in new popular models in India is such that the ecosystem is witnessing a realignment.

e commerce

Jan 19, 2020, 01.27 PM IST

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E COMMERCE

Commerce ministry for restricting duty-free alcohol purchase to one bottle

These recommendations are part of proposals made by the commerce ministry for the forthcoming Budget, which would be unveiled by Finance Minister Nirmala Sitharaman on February 1.

Commerce minister Piyush Goyal to lead Indian delegation to WEF 2020 in Davos

Goyal will also participate in an informal WTO Ministerial gath...

Divine Solitaires enters into e-commerce space

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  • Jeff Bezos has announced investments of USD 1 billion over the next few years in India. He could not reportedly get an audience with Indian PM Modi, while Commerce Minister Piyush Goyal stoked a controversy by stating that the e-commerce giant which is being investigated for predatory pricing is not doing India any favour by the investment.

    Housing ministry launched an e-commerce platform to facilitate homebuyers in identifying genuine properties.

    GST Rule 138E, which took effect in November, doesn’t allow an entity that hasn’t filed returns for two straight months to generate an e-waybill. While the rule won’t impact direct deliveries to ecommerce customers, business-to-business (B2B) orders from overseas will likely get hit.

    The Directorate General of Trade Remedies is an investigation arm of the ministry which deals with anti-dumping duty, safeguard duty, and countervailing duty. These duties are trade remedy measures, provided under an agreement of the World Trade Organisation to its member countries. They are used to provide a level playing field to domestic industry.

    Flipkart has already done so, and others like Swiggy and ride-sharing apps are about to follow.

    Norov said that e-commerce provides opportunities for companies to expand their markets, scale up their businesses, reduce transaction cost through economies of scale and more efficient use of capital, as well as to create new jobs.

    "PNB, the anchor bank, has appointed E&Y as advisor for harmonisation of capital norms, precisely net worth of the three banks as on March 31, 2020," United Bank of India's MD and CEO Ashok Pradhan said. At present, the consulting firm is looking at the balance sheets of the three banks and their audited reports of the second quarter of the current financial year, he added.

    The move by the brands is an effort to reach a wider consumer base, which is not possible by being available on a single e-commerce platform. For instance, German sportswear maker Adidas, which had an exclusive tie-up with Flipkart and Myntra, has started selling on Amazon India.

    "We are not against e-commerce and (are) rather of the considered opinion that e-commerce is a rapidly growing future mode of business and have undertaken a task to align the trading community with e-commerce by creating individual e-store of every trader in the country," Khandelwal said.

    Speaking at an industry interaction, ‘Enhancing Indian Industry’s Engagement with SCO’organised by FICCI, Norov said, “The time has come for purposeful and active action for development of e-commerce in our countries.” Norov is on five day visit to India to host series of meetings besides participating in Raisina Dialogue.

    German sportswear maker Adidas, which had an exclusive tie-up with Flipkart and Myntra, has started selling on Amazon India. British retailer Marks & Spencer, which went online in India through Flipkart Group, has now moved to Amazon and Ajio as well.

    According to the indictment, between September 2014 and October 2019, the five operated an international procurement network of front companies that existed to acquire US-origin goods for the Advanced Engineering Research Organisation (AERO) and the Pakistan Atomic Energy Commission (PAEC). They exported US-made goods to the two Pakistani entities.

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