Business Standard

Indian E-commerce Industry

E-commerce firms to adopt Safety Pledge to protect consumers on Dec 24

Major e-commerce platforms such as Zomato, Ajio and Ola will adopt a Safety Pledge on National Consumer Day on December 24 as part of steps to enhance product safety for online shoppers. The voluntary commitment, announced by the Department of Consumer Affairs, aims to detect and prevent the sale of unsafe and spurious products on digital marketplaces, an official statement said. A committee chaired by consumer activist Pushpa Girimaji developed the pledge after extensive stakeholder consultations in November 2023. With India projected to have 500 million online shoppers by 2030 and currently hosting 880 million internet users, the initiative addresses critical challenges in the rapidly expanding e-commerce landscape. The pledge requires platforms to cooperate with statutory authorities and raise product safety awareness among sellers. "The unique nature of e-commerce, where physical product examination is impossible, makes this safety initiative crucial," the department said. The

E-commerce firms to adopt Safety Pledge to protect consumers on Dec 24
Updated On : 14 Dec 2024 | 1:51 PM IST

Amazon affirms commitment to enabling $80 bn exports from India by 2030

E-commerce major Amazon on Tuesday pledged its commitment to enabling USD 80-billion in cumulative exports from India by 2030. The new vision marks an ambitious scale-up from the target so far of USD 20 billion by 2025. Amit Agarwal, SVP, Emerging Markets, Amazon, announced the commitment at the company's annual 'Smbhav Summit'. To achieve this goal, Amazon is collaborating closely with the government, lakhs of Indian small businesses, D2C brands, as well as other key stakeholders, he said. "Motivated by the progress that we made in driving exports out of India... we are going to advance our commitment to enable USD 80 billion in exports by 2030," Agarwal said. Since its launch in 2015, Amazon Global Selling has over 150,000 registered sellers from 200-plus cities across India who are set to surpass USD 20 billion in cumulative exports from India by 2024-end, according to a company blog. "This significant milestone will be driven by a combination of enabling exports through Amazo

Amazon affirms commitment to enabling $80 bn exports from India by 2030
Updated On : 10 Dec 2024 | 1:54 PM IST

Shiprocket, CSC selected to set up e-commerce export hubs around Delhi

Logistics aggregator Shiprocket and air cargo handling company Cargo Service Centre (CSC) have been selected by the government on a pilot basis to set up e-commerce export hubs in the country, a senior official said on Thursday. The e-commerce export hubs (EECH) will come in and around Delhi airport and begin operations in February next year, Director General of Foreign Trade Santosh Kumar Sarangi told reporters here. While Shiprocket is headquartered in Gurugram, the CSC is Mumbai-based. "We have approved two agencies to set up pilot e-commerce export hubs in Delhi," he said. The hub will have facilities for expedited customs and security clearance in-house. Provision for quality and certifying agencies will also happen within the hub. It will also have an easy re-import policy, he added. This policy will enable the return of e-commerce consignments and rejects without payment of import duty. He added that based on the feedback received from these firms on the running of these .

Shiprocket, CSC selected to set up e-commerce export hubs around Delhi
Updated On : 14 Nov 2024 | 7:08 PM IST

Meesho generates positive operating cash flow of Rs 232 cr in FY24

Company says it is India's first horizontal e-commerce platform to have free cash flow as adjusted losses reduce by 97% to 53 cr

Meesho generates positive operating cash flow of Rs 232 cr in FY24
Updated On : 30 Oct 2024 | 11:30 PM IST

Festive boost: Flipkart records 7.2 billion customer engagement visits

The e-commerce firm also witnessed a record 282 million unique visitors during the period, primarily driven by premiumisation and personalised preferences, especially in metros and Tier-2+ cities

Festive boost: Flipkart records 7.2 billion customer engagement visits
Updated On : 29 Oct 2024 | 9:56 PM IST

Zomato co-founder Akriti Chopra resigns to pursue other interests

Online food ordering and delivery platform Zomato on Friday said its co-founder and Chief People Officer Akriti Chopra has resigned to pursue other interests. Designated as senior management personnel, Chopra has tendered her resignation, with effect from September 27, 2024, Zomato said in a regulatory filing. She has been with the company for 13 years and played a key role in setting up and scaling Zomato's legal and finance teams in her previous role as CFO. Before joining Zomato, she worked with PwC for three years in the tax and regulatory practice. In January last year, another Zomato co-founder and its then chief technology officer Gunjan Patidar resigned after over a decade stint in the company. Before that in November 2022, another co-founder Mohit Gupta had resigned. Gupta was elevated to co-founder level in 2020 from the position of CEO of its food delivery business.

Zomato co-founder Akriti Chopra resigns to pursue other interests
Updated On : 27 Sep 2024 | 10:37 PM IST

Led by smaller cities, seasonal hiring to jump 20% this festive season

Seasonal jobs are short-term jobs taken up during a particular period of time. They may be part-time or full-time and typically last six months or less

Led by smaller cities, seasonal hiring to jump 20% this festive season
Updated On : 05 Sep 2024 | 4:29 PM IST

Draft Digital Competition Bill: Kirana vs quick commerce likely on table

Consumer ministry raises with MCA potential threat to local stores from burgeoning quick ecom

Draft Digital Competition Bill: Kirana vs quick commerce likely on table
Updated On : 29 Aug 2024 | 12:47 AM IST

Bachchan family office joins quick commerce frenzy with Swiggy stake

Swiggy deals in online food delivery and quick grocery delivery services segment. The development comes amid heightened investor interest in the industry, due to high demand for such services

Bachchan family office joins quick commerce frenzy with Swiggy stake
Updated On : 28 Aug 2024 | 11:47 AM IST

India-EFTA FTA: Goyal to meet Swiss investors on on $100-bn FDI commitment

The minister's visit to Switzerland will also see discussions on the ratification of the trade deal by both sides

India-EFTA FTA: Goyal to meet Swiss investors on on $100-bn FDI commitment
Updated On : 10 Jul 2024 | 9:59 PM IST

Struggling with fake reviews on e-com websites? Govt planning regulations

In a meeting held on May 15, the Consumer Affairs Department noted that the presence of fake reviews on e-commerce platforms jeopardises the trustworthiness and credibility of shopping platforms

Struggling with fake reviews on e-com websites? Govt planning regulations
Updated On : 16 May 2024 | 7:00 PM IST

E-commerce cos back govt proposal to make anti-fake review rules mandatory

Major e-commerce companies in India on Wednesday backed the government's proposal to make mandatory compliance with quality norms for consumer reviews, the consumer affairs department said on Wednesday. At a meeting held here, representatives from Amazon, Flipkart, Google and Meta, among others, endorsed the proposed quality control order to implement the IS 19000:2022 standard on 'online consumer reviews', according to the department. There was a consensus that the order is important to protect consumer interests from misleading reviews on shopping websites and apps, it said, adding that the draft order will be put up for public consultation. "The discussion on moving towards a Quality Control Order for IS 19000:2022 was welcomed by stakeholders and there was a general consensus among all stakeholders that the issue of fake reviews is important to protect consumer interest while shopping online, and requires to be closely monitored," the department said in a statement. Chairing th

E-commerce cos back govt proposal to make anti-fake review rules mandatory
Updated On : 15 May 2024 | 7:36 PM IST

US traders seek import tariff on Indian tile suppliers, blame subsidies

A coalition of US ceramic tile suppliers has urged the federal government to impose tariffs on ceramic tile imports from India as it is impacting domestic industry due to subsidised imports by the Indian government. The Department of Commerce has instituted an investigation into this matter. Import of ceramics and tiles from India has increased significantly over the past few years, an association of the US ceramic and tiles industry has claimed alleging that these are impacting their domestic industry as the imports are subsidised by the Indian government. In a petition filed before the US International Trade Commission of the Department of Commerce, the Coalition for Fair Trade in Ceramic Tile (TCNA), which claims to represent more than 90 per cent of US tile production, seeks the imposition of tariffs estimated between 408 per cent to 828 per cent, alleging that there is ongoing massive and widespread dumping from India. American tile manufacturers have always welcomed fair ...

US traders seek import tariff on Indian tile suppliers, blame subsidies
Updated On : 30 Apr 2024 | 7:03 AM IST

Flipkart, Swiggy, Blinkit, Zepto witness blockbuster Holi festival sales

The report emphasizes the burgeoning adoption of e-commerce in Tier-2 and beyond cities

Flipkart, Swiggy, Blinkit, Zepto witness blockbuster Holi festival sales
Updated On : 25 Mar 2024 | 10:52 PM IST

Fashion, grocery to capture 2/3rd of e-commerce by 2027: Falguni Nayar

Nayar, speaking at the Startup Mahakumbh in New Delhi on Monday, said that India is currently at a stage similar to where China was 15 years ago

Fashion, grocery to capture 2/3rd of e-commerce by 2027: Falguni Nayar
Updated On : 18 Mar 2024 | 11:03 PM IST

Flipkart's dark-store dash for quick commerce takes the fast lane

Walmart-owned firm may set up thousands of them across major cities in next few months

Flipkart's dark-store dash for quick commerce takes the fast lane
Updated On : 13 Mar 2024 | 12:26 AM IST

Retail market to double in size to reach $2 trn in 10 years: BCG report

The report stated that organised retail in the country has consistently demonstrated faster growth, despite subdued performance in the recent quarters owing to potential headwinds

Retail market to double in size to reach $2 trn in 10 years: BCG report
Updated On : 28 Feb 2024 | 10:16 PM IST

IIM Indore student gets Rs 1 cr salary package from e-commerce company

An e-commerce company has offered an annual salary of Rs 1 crore to a student of the Indian Institute of Management (IIM) Indore, an official said Tuesday. This is the highest annual package offered during the final placement round of this session at IIM-I, the official said. "One of our students has bagged the highest salary package of Rs 1 crore during the final placement period of this session. This student has been offered a job in the sales and marketing department by a company in the e-commerce industry. The offer is for domestic placement," the official said. Against the backdrop of "a cooling job market", the season culminated with more than 150 recruiters extending offers to 594 students of the two-year Post Graduate Programme (PGP) and five-year Integrated Programme in Management (IPM), the official said, adding that this reflects the industry's unwavering trust in the institute and its students. The statistics for this year consisted of the average CTC (cost to company)

IIM Indore student gets Rs 1 cr salary package from e-commerce company
Updated On : 13 Feb 2024 | 12:33 PM IST

ONDC merchants expected to multiply in coming year: MD & CEO Koshy

The government-promoted Open Network for Digital Commerce has around 3 lakh merchants and the count is expected to multiply in the coming year, ONDC MD & CEO Thampy Koshy said on Thursday. "We started with 600 merchants on-board in January last year. At present there are around 3 lakh merchants (on-boarded). In the coming year we expect this will be multiplying and build its momentum. At least ten times growth I expect in the coming year," Koshy said on the sidelines of an event here. He further said that ONDC witnessed 67 lakh transactions in January, and he expects a 20-30 per cent growth in monthly transactions going forward. Koshy was speaking after an agreement signing ceremony between QCI and ONDC at the launch of the DigiReady Certification (DRC) portal. For the DRC initiative, QCI in conjunction with ONDC aim to assess and certify digital readiness of MSME entities. With the help of an online self-assessment tool, MSMEs can evaluate their preparedness to seamlessly onboard

ONDC merchants expected to multiply in coming year: MD & CEO Koshy
Updated On : 08 Feb 2024 | 4:29 PM IST

Flipkart co-founder Binny Bansal exits board, launches new startup OppDoor

Binny Bansal has officially exited the board the Walmart-owned e-commerce firm, which he founded along with Sachin Bansal 16 years ago

Flipkart co-founder Binny Bansal exits board, launches new startup OppDoor
Updated On : 27 Jan 2024 | 4:45 PM IST