Reliance Industries Ltd has launched an online grocery service, JioMart, the head of its grocery retail business said, in a move aimed at rivalling Amazon.com's local unit and Walmart Inc's Flipkart in the huge Indian market. JioMart will deliver groceries in more than 200 towns across the country, Damodar Mall, chief executive of grocery retail at the Indian conglomerate, said on Twitter late on Saturday.&nbsp;

Mumbai-headquartered Reliance has not announced JioMart's launch at a time it is selling $7 billion in new shares.

Reliance launched a small pilot of JioMart deliveries in select areas of the Indian financial capital Mumbai late last month, days after announcing that Facebook Inc would spend $5.7 billion for 9.99 percent stake in the company's digital unit, Jio Platforms.

That partnership will help Reliance roll out service for India's grocers and small businesses by capitalising on India's 40 crore-strong user base for Facebook's WhatsApp messaging service.

JioMart, the e-commerce venture of Reliance's retail arm, offers free express grocery delivery from neighbourhood mom-and-pop stores. It will pose a formidable challenge to local rivals, which are also betting big on groceries for their growth.

The launch comes as India is witnessing a surge in coronavirus cases. A person familiar with the matter told Reuters the product catalogue on JioMart's website will be expanded after lockdown restrictions aimed to curb the spread of the new coronavirus are eased.

"Never waste a crisis, they say!" Mall said in his tweet. "A wise colleague mentioned today, 'Alibaba also flourished starting from the SARS crisis.'"

The oil-to-telecoms giant, controlled by India's richest man, Mukesh Ambani, did not immediately respond to an email seeking comment on the launch.

Reliance is on a fundraising spree with Jio Platforms, which houses telecoms ventures Jio Infocomm, winning a massive $10 billion from investors including Facebook, KKR &amp; Co Inc and General Atlantic in a month. 
&nbsp;

Reliance Industries Ltd has launched an online grocery service, JioMart, the head of its grocery retail business said, in a move aimed at rivalling Amazon.com's local unit and Walmart Inc's Flipkart in the huge Indian market.

Reliance Industries Ltd has launched an online grocery service, JioMart, the head of its grocery retail business said, in a move aimed at rivalling Amazon.com's local unit and Walmart Inc's Flipkart in the huge Indian market. JioMart will deliver groceries in more than 200 towns across the country, Damodar Mall, chief executive of grocery retail at the Indian conglomerate, said on Twitter late on Saturday. Mumbai-headquartered Reliance has not announced JioMart's launch at a time it is selling $7 billion in new shares. Reliance launched a small pilot of JioMart deliveries in select areas of the Indian financial capital Mumbai late last month, days after announcing that Facebook Inc would spend $5.7 billion for 9.99 percent stake in the company's digital unit, Jio Platforms. That partnership will help Reliance roll out service for India's grocers and small businesses by capitalising on India's 40 crore-strong user base for Facebook's WhatsApp messaging service. JioMart, the e-commerce venture of Reliance's retail arm, offers free express grocery delivery from neighbourhood mom-and-pop stores. It will pose a formidable challenge to local rivals, which are also betting big on groceries for their growth. The launch comes as India is witnessing a surge in coronavirus cases. A person familiar with the matter told Reuters the product catalogue on JioMart's website will be expanded after lockdown restrictions aimed to curb the spread of the new coronavirus are eased. "Never waste a crisis, they say!" Mall said in his tweet. "A wise colleague mentioned today, 'Alibaba also flourished starting from the SARS crisis.'" The oil-to-telecoms giant, controlled by India's richest man, Mukesh Ambani, did not immediately respond to an email seeking comment on the launch. Reliance is on a fundraising spree with Jio Platforms, which houses telecoms ventures Jio Infocomm, winning a massive $10 billion from investors including Facebook, KKR & Co Inc and General Atlantic in a month.

Reliance launches JioMart online grocery service; challenges Amazon, Flipkart

Walmart backed E-commerce giant Flipkart on Wednesday suspended its services, according to a message on the company's website. ''We are temporarily suspending our services.

Walmart backed E-commerce giant Flipkart on Wednesday suspended its services, according to a message on the company's website. ''We are temporarily suspending our services. Your needs have always been our priority, and our promise is that we will be back to serve you, as soon as possible, read a statement displayed on Flipkart's website. The announcement comes hours after Prime Minister Narendra Modi announced a nationwide lockdown to fight the spread of novel coronavirus. E-Commerce website Flipkart temporarily suspends its services. #COVID19 #21daysLockdown pic.twitter.com/Ijk9j02j5m — ANI (@ANI) March 25, 2020 × The lockdown began at 12 am on March 25 and will run for the next three weeks. These are difficult times, times like no other, said the statement and added, never before, communities stayed apart to stay safe! Never before, has being at home meant helping the nation, the statement further said. ''We urge you to stay home to stay safe! We will get there. And we will get through. Together. Meanwhile, Amazon said that it was prioritising all its resources to serve products that are currently high priority for customers.

Flipkart temporarily suspends services amid nationwide lockdown

Walmart's <a href="https://www.wionews.com/business-economy/india-court-stalls-amazon-flipkart-antitrust-probes-report-280715">Flipkart</a> has filed a legal challenge against an antitrust investigation ordered against the company in India, a court filing seen by Reuters showed, following a similar petition by its rival <a href="https://www.wionews.com/business-economy/india-court-stalls-amazon-flipkart-antitrust-probes-report-280715">Amazon.com Inc</a>.

The <a href="https://www.wionews.com/business-economy/amazon-and-flipkart-to-quash-antitrust-investigation-legal-battles-to-follow-280047">Competition Commission of India</a> (CCI) in January ordered a probe into alleged violations of competition law and certain discounting practices by the two e-commerce giants, but a state court put the investigation on hold last week following a challenge by Amazon.

<a href="https://www.wionews.com/business-economy/india-court-stalls-amazon-flipkart-antitrust-probes-report-280715">India court stalls Amazon, Flipkart antitrust probes: Report</a>

Flipkart's legal filing was aimed at signalling the company is aggrieved by the CCI's probe order, a person familiar with the matter said.

The filing comes days ahead of US President Donald Trump's visit to India, and amid US concerns about India's tightening of foreign investment rules for the e-commerce sector.

In its February 18 court filing in southern Bengaluru city, which is not public, <a href="https://www.wionews.com/business-economy/india-court-stalls-amazon-flipkart-antitrust-probes-report-280715">Flipkart </a>argues the CCI ordered its probe without initial evidence that the company's practices were harming competition.

<a href="https://www.wionews.com/business-economy/india-court-stalls-amazon-flipkart-antitrust-probes-report-280715">Flipkart </a>said the CCI order was "perverse (and) passed without any application of mind".

"Such an order exposes responsible corporate entities ... to the rigors of an intrusive investigation prejudicially affecting not only its credibility and reputation, but also its commercial prospects," said <a href="https://www.wionews.com/business-economy/india-court-stalls-amazon-flipkart-antitrust-probes-report-280715">Flipkart</a>, urging the court to quash the probe.

Also read:<a href="https://www.wionews.com/business-economy/amazon-and-flipkart-to-quash-antitrust-investigation-legal-battles-to-follow-280047"> Amazon and Flipkart to quash antitrust investigation; legal battles to follow</a>

A spokesman for Flipkart did not comment on the contents of the filing, saying it was a "procedural matter". The case is likely to be heard next week.

The CCI did not respond to a request for comment.

Amazon and Flipkart have faced criticism from Indian retailers which accuse them of violating local laws by racking up billions of dollars of losses to fund deep discounts and discriminating against small sellers.

The companies deny the allegations.

The antitrust probe was ordered after a New Delhi-based trader group complained that the e-commerce giants were promoting select sellers and in turn hurting business for other smaller players.

Flipkart in its filing said the CCI had "failed in its duty" to close the frivolous complaint and an investigation would harm the company's reputation, lead to significant managerial time loss and legal costs.

Walmart's Flipkart has filed a legal challenge against an antitrust investigation ordered against the company in India, a court filing seen by Reuters showed, following a similar petition by its rival Amazon.

Walmart's Flipkart has filed a legal challenge against an antitrust investigation ordered against the company in India, a court filing seen by Reuters showed, following a similar petition by its rival Amazon.com Inc. The Competition Commission of India (CCI) in January ordered a probe into alleged violations of competition law and certain discounting practices by the two e-commerce giants, but a state court put the investigation on hold last week following a challenge by Amazon. India court stalls Amazon, Flipkart antitrust probes: Report Flipkart's legal filing was aimed at signalling the company is aggrieved by the CCI's probe order, a person familiar with the matter said. The filing comes days ahead of US President Donald Trump's visit to India, and amid US concerns about India's tightening of foreign investment rules for the e-commerce sector. In its February 18 court filing in southern Bengaluru city, which is not public, Flipkart argues the CCI ordered its probe without initial evidence that the company's practices were harming competition. Flipkart said the CCI order was "perverse (and) passed without any application of mind". "Such an order exposes responsible corporate entities ... to the rigors of an intrusive investigation prejudicially affecting not only its credibility and reputation, but also its commercial prospects," said Flipkart, urging the court to quash the probe. Also read: Amazon and Flipkart to quash antitrust investigation; legal battles to follow A spokesman for Flipkart did not comment on the contents of the filing, saying it was a "procedural matter". The case is likely to be heard next week. The CCI did not respond to a request for comment. Amazon and Flipkart have faced criticism from Indian retailers which accuse them of violating local laws by racking up billions of dollars of losses to fund deep discounts and discriminating against small sellers. The companies deny the allegations. The antitrust probe was ordered after a New Delhi-based trader group complained that the e-commerce giants were promoting select sellers and in turn hurting business for other smaller players. Flipkart in its filing said the CCI had "failed in its duty" to close the frivolous complaint and an investigation would harm the company's reputation, lead to significant managerial time loss and legal costs.

After Amazon, Walmart's Flipkart challenges India antitrust probe

Amazon and Walmart’s Flipkart are among online retailers demanding that India scale back a proposed tax on third-party sellers on their platforms, saying the burden of compliance will hurt the fledgling industry, according to a document seen by Reuters.

Amazon and Walmart’s Flipkart are among online retailers demanding that India scale back a proposed tax on third-party sellers on their platforms, saying the burden of compliance will hurt the fledgling industry, according to a document seen by Reuters. The online retail industry is braced for a possible 1% tax on each sale made by sellers on their platforms from April if the proposal is approved by parliament next month. The move is part of a broader plan by Prime Minister Narendra Modi’s government to increase tax revenues and counter a sharp economic slowdown due to weakening consumer demand. But the tax will hurt the country’s fledgling e-commerce sector, according to a presentation prepared by the Federation of Indian Chambers of Commerce and Industry (FICCI) for the government and reviewed by Reuters. “(It) would cause irreparable loss to the entire industry with increased compliance burden,” the lobby group said on behalf of e-commerce companies. “This will also lead to reduced trading activity.” Amazon declined to comment. A spokesman for Bengaluru-based Flipkart said it was working with industry chambers to voice sellers’ concerns and highlight the increased cost of compliance. The Finance Ministry declined to comment. Some third-party sellers are also pushing back against the tax, arguing it would negatively impact their working capital, adding that they already contribute to a nationwide sales tax. This tax will be “extremely detrimental to the growth and sustenance” of small online sellers and make the model “unviable”, Unexo Life Sciences, a seller of healthcare products on Amazon’s India website, said in an email to the Central Board of Direct Taxes that was reviewed by Reuters. Online vendors, or sellers with revenue of less than half a million rupees in the previous year, as well as brick-and-mortar retailers, will be exempted from the new tax, although they are subject to the nationwide sales tax. India’s e-commerce sector is expected to reach $200 billion by 2026 as rising smartphone use and cheap data help hundreds of millions to shop online for everything from groceries to furniture. But companies such as Amazon and Flipkart have also had to face tighter regulations and an antitrust probe. The tax would apply to the income of drivers on ride hailing firms such Uber and Ola as well as sales on restaurant aggregators including Zomato and Swiggy. Ola and Uber declined to comment, while Swiggy and Zomato did not respond to requests for comment. Modi is pushing to expand India’s tax base to hundreds of thousands of manufacturers, food sellers and cab drivers who currently do not pay income tax, a senior Finance Ministry official said. Modi has said just about 15 million of India’s 1.3 billion Indians people pay income tax. New Delhi expects to collect about 30 billion Indian rupees ($419.46 million) through the tax, the Finance Ministry said. It will also provide data on billions of dollars in sales.

Amazon, Flipkart challenge new Indian tax on online sellers

An Indian antitrust investigation of Amazon.com Inc and Walmart`s Flipkart has been put on hold by a court, three lawyers involved in the proceedings told Reuters on Friday.

Amazon this week challenged the investigation in a court in Bengaluru and the court has granted a stay of two months, according to a lawyer from P&amp;A Law Offices representing Amazon and two other legal counsels involved in the matter.

The Competition Commission of India (CCI) last month ordered a probe into Amazon and Flipkart over alleged violations of competition law and certain discounting practices.

"This comes as a major relief," said the Amazon counsel, who declined to be named as he was not authorised to speak to media.

The CCI did not immediately respond to a request for comment.

The CCI ordered its probe after a New Delhi-based trader group complained that the e-commerce giants were promoting select sellers and in turn hurting business for other smaller players.

Over three days of hearings in the Bengaluru court, Amazon denied the allegations and argued that CCI did not have sufficient evidence to order the probe.

A lawyer for the Indian trader group, Delhi Vyapar Mahasangh, said he would appeal against the court`s decision to put the investigation on hold.

Amazon and Flipkart have faced mounting criticism from Indian retailers which accuse them of violating local laws by racking up billions of dollars of losses to fund deep discounts and discriminating against small sellers.

The companies deny the allegations.

Last month, the trade minister said Amazon wasn`t doing India any "great favour" by announcing $1 billion in investment, laying bare the tensions with the U.S. online retailer. 
&nbsp;

An Indian antitrust investigation of Amazon.com Inc and Walmart`s Flipkart has been put on hold by a court, three lawyers involved in the proceedings told Reuters on Friday.

An Indian antitrust investigation of Amazon.com Inc and Walmart`s Flipkart has been put on hold by a court, three lawyers involved in the proceedings told Reuters on Friday. Amazon this week challenged the investigation in a court in Bengaluru and the court has granted a stay of two months, according to a lawyer from P&A Law Offices representing Amazon and two other legal counsels involved in the matter. The Competition Commission of India (CCI) last month ordered a probe into Amazon and Flipkart over alleged violations of competition law and certain discounting practices. "This comes as a major relief," said the Amazon counsel, who declined to be named as he was not authorised to speak to media. The CCI did not immediately respond to a request for comment. The CCI ordered its probe after a New Delhi-based trader group complained that the e-commerce giants were promoting select sellers and in turn hurting business for other smaller players. Over three days of hearings in the Bengaluru court, Amazon denied the allegations and argued that CCI did not have sufficient evidence to order the probe. A lawyer for the Indian trader group, Delhi Vyapar Mahasangh, said he would appeal against the court`s decision to put the investigation on hold. Amazon and Flipkart have faced mounting criticism from Indian retailers which accuse them of violating local laws by racking up billions of dollars of losses to fund deep discounts and discriminating against small sellers. The companies deny the allegations. Last month, the trade minister said Amazon wasn`t doing India any "great favour" by announcing $1 billion in investment, laying bare the tensions with the U.S. online retailer.

India court stalls Amazon, Flipkart antitrust probes: Report

<a href="https://www.wionews.com/world/latest-world-news-coronavirus-prompts-sony-amazon-sony-and-ericsson-to-join-barcelona-mobile-congress-exodus-280030">Amazon</a>.com Inc has begun legal action in India to quash an antitrust investigation against the company, saying it could cause "irreparable" loss and damage to its reputation, according to reports.

Legal action has been taken against India by <a href="https://www.wionews.com/business-economy/india-looks-into-flipkart-amazon-festive-discounts-after-retailer-complaints-256043">Amazon</a>.com Inc. to kill the antitrust investigation being conducted against the company as it could cause irreparable damage to the reputation of the e-commerce website.

Investigation of <a href="Antitrust probe ordered against Amazon, Walmart's Flipkart in violation of competition law">Flipkart</a>, which is owned by <a href="https://www.wionews.com/business-economy/india-looks-into-flipkart-amazon-festive-discounts-after-retailer-complaints-256043">Walmart </a>and <a href="https://www.wionews.com/business-economy/india-looks-into-flipkart-amazon-festive-discounts-after-retailer-complaints-256043">Amazon </a>was ordered by the <a href="https://www.wionews.com/business-economy/india-looks-into-flipkart-amazon-festive-discounts-after-retailer-complaints-256043">Competition Commission of India</a> (CCI) to understand the reason behind alleged violations of certain discounting practices and competition law.

Also read: <a href="https://www.wionews.com/business-economy/antitrust-probe-ordered-against-amazon-walmarts-flipkart-in-violation-of-competition-law-274073">Antitrust probe ordered against Amazon, Walmart's Flipkart in violation of competition law</a>

India's brick-and-mortar retailers have mounted criticisms against the two e-commerce platforms, the principal ones being that the US giants are violating Indian law by racking up billions of dollars of losses to fund deep discounts and discriminating against small sellers.

All allegations have been denied by the multi-national corporations, following which was the probe ordered by <a href="https://www.wionews.com/business-economy/india-looks-into-flipkart-amazon-festive-discounts-after-retailer-complaints-256043">CCI </a>after a New Delhi-based trader group complained that the e-commerce giants were hurting business for other smaller players by promoting select sellers on one of the world's biggest online shopping markets.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/india-looks-into-flipkart-amazon-festive-discounts-after-retailer-complaints-256043">Government looks into Flipkart, Amazon festive discounts after retailer complaints</a>

The CCI ordered its probe after a New Delhi-based trader group complained that the e-commerce giants were promoting select sellers and in turn, hurting business for other smaller players in one of the world's biggest online shopping markets.

"The entire order passed by (the <a href="https://www.wionews.com/business-economy/india-looks-into-flipkart-amazon-festive-discounts-after-retailer-complaints-256043">CCI</a>) is bereft of any foundation," <a href="https://www.wionews.com/business-economy/india-looks-into-flipkart-amazon-festive-discounts-after-retailer-complaints-256043">Amazon </a>said in a February 10 filing to a court in the city of Bengaluru, rejecting the allegations levelled against the company.

"(The investigation order) suffers from non-application of mind as it appears to contain no reference to the finding of an appreciable adverse effect on competition," said <a href="https://www.wionews.com/business-economy/antitrust-probe-ordered-against-amazon-walmarts-flipkart-in-violation-of-competition-law-274073">Amazon</a>.

<a href="https://www.wionews.com/business-economy/antitrust-probe-ordered-against-amazon-walmarts-flipkart-in-violation-of-competition-law-274073">Flipkart </a>states that it was "fully compliant" with all laws in India after <a href="https://www.wionews.com/business-economy/india-looks-into-flipkart-amazon-festive-discounts-after-retailer-complaints-256043">CCI </a>ordered the probe. The trader group, Delhi Vyapar Mahasangh will defend its case to guarantee that the probe is not subdued or paused. Amazon has also been affected by stringent foreign investment rules in India.

After the launch of the probe last month, the Trade Minister of India said Amazon was not doing any favours by announcing the new 1 billion dollar investment, a statement which lay bare friction with the online US retailer.

Amazon.com Inc has begun legal action in India to quash an antitrust investigation against the company, saying it could cause "irreparable" loss and damage to its reputation, according to reports.

Amazon.com Inc has begun legal action in India to quash an antitrust investigation against the company, saying it could cause "irreparable" loss and damage to its reputation, according to reports. Legal action has been taken against India by Amazon.com Inc. to kill the antitrust investigation being conducted against the company as it could cause irreparable damage to the reputation of the e-commerce website. Investigation of Flipkart, which is owned by Walmart and Amazon was ordered by the Competition Commission of India (CCI) to understand the reason behind alleged violations of certain discounting practices and competition law. Also read: Antitrust probe ordered against Amazon, Walmart's Flipkart in violation of competition law India's brick-and-mortar retailers have mounted criticisms against the two e-commerce platforms, the principal ones being that the US giants are violating Indian law by racking up billions of dollars of losses to fund deep discounts and discriminating against small sellers. All allegations have been denied by the multi-national corporations, following which was the probe ordered by CCI after a New Delhi-based trader group complained that the e-commerce giants were hurting business for other smaller players by promoting select sellers on one of the world's biggest online shopping markets. Also read: Government looks into Flipkart, Amazon festive discounts after retailer complaints The CCI ordered its probe after a New Delhi-based trader group complained that the e-commerce giants were promoting select sellers and in turn, hurting business for other smaller players in one of the world's biggest online shopping markets. "The entire order passed by (the CCI) is bereft of any foundation," Amazon said in a February 10 filing to a court in the city of Bengaluru, rejecting the allegations levelled against the company. "(The investigation order) suffers from non-application of mind as it appears to contain no reference to the finding of an appreciable adverse effect on competition," said Amazon. Flipkart states that it was "fully compliant" with all laws in India after CCI ordered the probe. The trader group, Delhi Vyapar Mahasangh will defend its case to guarantee that the probe is not subdued or paused. Amazon has also been affected by stringent foreign investment rules in India. After the launch of the probe last month, the Trade Minister of India said Amazon was not doing any favours by announcing the new 1 billion dollar investment, a statement which lay bare friction with the online US retailer.

Amazon and Flipkart to quash antitrust investigation; legal battles to follow

Amazon CEO Jeff Bezos who is in India for an annual Amazon event yesterday visited the Mahatma Gandhi memorial in New Delhi. Also read: 'E-commerce firms shouldn't offer heavy discounts' — Antitrust chief says ahead Amazon CEO Bezos' visit Bezos posted a video where he can be seen in a white kurta and an orange half-jacket, carrying a colourful wreath of flowers on the lawns of the memorial at Raj Ghat.

Amazon CEO Jeff Bezos who is in India for an annual Amazon event yesterday visited the Mahatma Gandhi memorial in New Delhi. Also read: 'E-commerce firms shouldn't offer heavy discounts' — Antitrust chief says ahead Amazon CEO Bezos' visit Bezos posted a video where he can be seen in a white kurta and an orange half-jacket, carrying a colourful wreath of flowers on the lawns of the memorial at Raj Ghat. Just landed in India and spent a beautiful afternoon paying my respects to someone who truly changed the world. “Live as if you were to die tomorrow. Learn as if you were to live forever." - Mahatma Gandhi. pic.twitter.com/xDXAT9cBgf — Jeff Bezos (@JeffBezos) January 14, 2020 × The e-retailer giant's chief executive's visit to India comes at a time when the country's anti-trust body competition commission of India is looking into alleged unfair practices by Amazon and Walmart's Flipkart. Bezos will appear on stage at Amazon’s Smbhav event for a fireside chat alongside Amit Agarwal, who heads amazon’s India operations. According to the sources, Bezos has also sought meetings with Prime Minister Narendra Modi and other government officials. Meanwhile, a complaint by the Delhi Vyapar Mahasangh, whose members include thousands of traders dealing in smartphones and related accessories. Have accused amazon of anti-competitive practices like preferential listing, exclusive tie-ups and private labels. The traders have said they will hold a massive protest during Bezos' visit to India. The Confederation of All India Traders (CAIT), an organisation representing 70 million physical retailers, said it will dissent across 300 cities during Bezos' stay in the nation. CAIT has since 2015 pursued a fight against online retailers Amazon and Walmart-controlled Flipkart, blaming them for profound limits and spurning India's foreign investment rules. Both the retail conglomerates have denied the claims.

Jeff Bezos' India visit: Amazon CEO pays tribute to Mahatma Gandhi, to address  'Smbhav'

India's anti-trust chief on Tuesday said that big e-commerce companies should offer massive discounts and urged them to disclose their <a href="https://www.wionews.com/business-economy/antitrust-probe-ordered-against-amazon-walmarts-flipkart-in-violation-of-competition-law-274073">discount policies on their websites </a>to have a more transparent system.

"If you are absolutely clean, come out, put it (details) on your website. So that everybody knows and there is nothing opaque," news agency Reuters quoted&nbsp;Ashok Kumar Gupta, chairman of the Competition Commission of India (CCI) as saying.

"Otherwise there will be complaints, we will inquire - why do you want to subject yourself to this type of investigation if you are open about it," Gupta also said.

Gupta further said that there is no problem in giving discounts you are not among the main players of the market, but, once a firm acquires "market power, you cannot continue with these practices becaus eyou will start hurting incumbent players".

He then stressed on openness about discounting policies and said that&nbsp;how companies use customers' data is essential.

The latest comments come ahead of &nbsp;<a href="https://www.wionews.com/business-economy/amazon-boss-jeff-bezos-to-face-protests-from-traders-during-india-trip-273640">Amazon CEO Jeff Bezos' visit to India</a> which expected to face several protests by brick-and-mortar retailers.

According to a report, protests by the&nbsp;country's small business owners are planned against Bezos in 300 cities to step up their campaign against what they see as unfair business practices.

In particular, the shopkeepers accuse the two US giants of indulging in heavy discounts and giving preferential treatment to select sellers which is a violation of India's foreign investment rules. The companies deny any wrongdoing.

In Reuters' report, Gupta also said there was nothing wrong in giving discounts if you were an insignificant player, but "once you acquire market power, you cannot continue with these practices because you will start hurting the incumbent players."

Bezos will likely participate in an Amazon event in New Delhi, sources have said. He has also sought meetings with the prime minister and other government officials, according to one source.

Amazon has committed $5.5 billion in India investments, while Walmart in 2018 pumped in $16 billion to buy a majority stake in Flipkart, its biggest deal.

The CCI has said India is the world's fastest-growing e-commerce market, expected to grow at an annual rate of 51% between 2017 and 2020. It estimates the sector will generate revenues of $120 billion this year.

On Monday,&nbsp;an investigation against Amazon.com Inc and&nbsp;<a href="https://www.wionews.com/business-economy/walmart-sacks-around-50-executives-in-india-restructuring-sources-273864">Walmar</a>t's Flipkart was ordered over alleged violations of competition law.

The Competition Commission of India (CCI) said it was ordering a wider probe following a review of allegations that Amazon and Flipkart were promoting some "preferred sellers" and in turn hurting business for other, smaller sellers.

(With inputs from Reuters)

&nbsp;

&nbsp;

India's anti-trust chief on Tuesday said that big e-commerce companies should offer massive discounts and urged them to disclose their discount policies on their websites to have a more transparent system.

India's anti-trust chief on Tuesday said that big e-commerce companies should offer massive discounts and urged them to disclose their discount policies on their websites to have a more transparent system. "If you are absolutely clean, come out, put it (details) on your website. So that everybody knows and there is nothing opaque," news agency Reuters quoted Ashok Kumar Gupta, chairman of the Competition Commission of India (CCI) as saying. "Otherwise there will be complaints, we will inquire - why do you want to subject yourself to this type of investigation if you are open about it," Gupta also said. Gupta further said that there is no problem in giving discounts you are not among the main players of the market, but, once a firm acquires "market power, you cannot continue with these practices becaus eyou will start hurting incumbent players". He then stressed on openness about discounting policies and said that how companies use customers' data is essential. The latest comments come ahead of Amazon CEO Jeff Bezos' visit to India which expected to face several protests by brick-and-mortar retailers. According to a report, protests by the country's small business owners are planned against Bezos in 300 cities to step up their campaign against what they see as unfair business practices. In particular, the shopkeepers accuse the two US giants of indulging in heavy discounts and giving preferential treatment to select sellers which is a violation of India's foreign investment rules. The companies deny any wrongdoing. In Reuters' report, Gupta also said there was nothing wrong in giving discounts if you were an insignificant player, but "once you acquire market power, you cannot continue with these practices because you will start hurting the incumbent players." Bezos will likely participate in an Amazon event in New Delhi, sources have said. He has also sought meetings with the prime minister and other government officials, according to one source. Amazon has committed $5.5 billion in India investments, while Walmart in 2018 pumped in $16 billion to buy a majority stake in Flipkart, its biggest deal. The CCI has said India is the world's fastest-growing e-commerce market, expected to grow at an annual rate of 51% between 2017 and 2020. It estimates the sector will generate revenues of $120 billion this year. On Monday, an investigation against Amazon.com Inc and Walmart's Flipkart was ordered over alleged violations of competition law. The Competition Commission of India (CCI) said it was ordering a wider probe following a review of allegations that Amazon and Flipkart were promoting some "preferred sellers" and in turn hurting business for other, smaller sellers. (With inputs from Reuters)

'E-commerce firms shouldn't offer heavy discounts': Antitrust chief says ahead Amazon CEO Bezos' visit

India ordered an investigation of Amazon.com Inc and <a href="https://www.wionews.com/business-economy/walmart-sacks-around-50-executives-in-india-restructuring-sources-273864">Walmar</a>t's Flipkart on Monday over alleged violations of competition law in the latest setback for <a href="https://www.wionews.com/business-economy/india-looks-into-flipkart-amazon-festive-discounts-after-retailer-complaints-256043">US e-commerce giants operating</a> in the country.

The Competition Commission of India (CCI) said it was ordering a wider probe following a review of allegations that Amazon and Flipkart were promoting some "preferred sellers" and in turn hurting business for other, smaller sellers.

Flipkart is "fully compliant" with all laws and is currently reviewing the CCI order, Senior Vice President Rajneesh Kumar said.

Amazon did not respond to a request for immediate comment. <a href="https://www.wionews.com/business-economy/amazon-boss-jeff-bezos-to-face-protests-from-traders-during-india-trip-273640">Amazon boss Jeff Bezos </a>is expected to visit India for potential meetings with government officials this week.

The complaint against the two companies was filed by Delhi Vyapar Mahasangh, a group representing small- and medium-sized businesses. They alleged that several of Amazon and Flipkart`s preferred sellers were affiliated with, or controlled by, the companies themselves, either directly or indirectly.

In its 11-page order, the CCI noted four alleged anti-competitive practices: exclusive launch of mobile phones by the e-commerce firms, promoting preferred sellers on their websites, deep discounting practices and prioritising some seller listings over others.

"Exclusive launch (of mobile phones) coupled with preferential treatment to a few sellers and the discounting practices create an ecosystem that may lead to an appreciable adverse effect on competition," the order said.

The CCI said its investigation unit should complete the probe within 60 days, but typically such cases have taken far longer.

Walmart in 2018 invested $16 billion to buy a majority stake in India's Flipkart, its biggest-ever deal.

The CCI probe will be the latest setback for the US companies that were last year hit with more stringent foreign investment rules.

Some of the allegations reviewed by the CCI have been long levelled against both companies.

Indian brick-and-mortar traders allege Amazon and Flipkart violate the country`s foreign investment rules and burn billions of dollars to offer steep discounts that hurt smaller traders. The two companies say they are in compliance with all rules.

In a recent study, the CCI said India's was the fastest-growing e-commerce market with revenue this year expected to reach $120 billion, triple its size in 2017.

"The e-commerce sector is plagued with several issues, any adverse action by the CCI could scuttle the growth of the sector," said Ram Kumar Poornachandran, competition law lead at law firm TT&amp;A. 
&nbsp;

India ordered an investigation of Amazon.com Inc and Walmart's Flipkart on Monday over alleged violations of competition law in the latest setback for US e-commerce giants operating in the country.

India ordered an investigation of Amazon.com Inc and Walmart's Flipkart on Monday over alleged violations of competition law in the latest setback for US e-commerce giants operating in the country. The Competition Commission of India (CCI) said it was ordering a wider probe following a review of allegations that Amazon and Flipkart were promoting some "preferred sellers" and in turn hurting business for other, smaller sellers. Flipkart is "fully compliant" with all laws and is currently reviewing the CCI order, Senior Vice President Rajneesh Kumar said. Amazon did not respond to a request for immediate comment. Amazon boss Jeff Bezos is expected to visit India for potential meetings with government officials this week. The complaint against the two companies was filed by Delhi Vyapar Mahasangh, a group representing small- and medium-sized businesses. They alleged that several of Amazon and Flipkart`s preferred sellers were affiliated with, or controlled by, the companies themselves, either directly or indirectly. In its 11-page order, the CCI noted four alleged anti-competitive practices: exclusive launch of mobile phones by the e-commerce firms, promoting preferred sellers on their websites, deep discounting practices and prioritising some seller listings over others. "Exclusive launch (of mobile phones) coupled with preferential treatment to a few sellers and the discounting practices create an ecosystem that may lead to an appreciable adverse effect on competition," the order said. The CCI said its investigation unit should complete the probe within 60 days, but typically such cases have taken far longer. Walmart in 2018 invested $16 billion to buy a majority stake in India's Flipkart, its biggest-ever deal. The CCI probe will be the latest setback for the US companies that were last year hit with more stringent foreign investment rules. Some of the allegations reviewed by the CCI have been long levelled against both companies. Indian brick-and-mortar traders allege Amazon and Flipkart violate the country`s foreign investment rules and burn billions of dollars to offer steep discounts that hurt smaller traders. The two companies say they are in compliance with all rules. In a recent study, the CCI said India's was the fastest-growing e-commerce market with revenue this year expected to reach $120 billion, triple its size in 2017. "The e-commerce sector is plagued with several issues, any adverse action by the CCI could scuttle the growth of the sector," said Ram Kumar Poornachandran, competition law lead at law firm TT&A.

Antitrust probe ordered against Amazon, Walmart's Flipkart in violation of competition law

<a href="https://www.wionews.com/business-%26-economy/walmart-microsoft-in-partnership-to-use-cloud-tech-152321">Walmart</a>&nbsp;Inc, the world's largest retailer, has fired 56&nbsp;of its&nbsp;India&nbsp;executives&nbsp;as part of its&nbsp;restructuring&nbsp;in the country, three&nbsp;sources&nbsp;with direct knowledge told Reuters.

The move underscores the struggles&nbsp;Walmart&nbsp;has faced in expanding its wholesale business in&nbsp;India.

Reuters reported the firings earlier on Monday, citing three people with direct knowledge of the matter, adding the move had mostly affected executives in&nbsp;Walmart's real estate division, which takes care of store expansion, as the wholesale business model did not bring in expected growth.

Eight of the 56 executives fired were in "senior management" roles and the rest from middle or lower management, Krish Iyer, President and CEO of&nbsp;Walmart&nbsp;India said in a statement.

"We are also looking for ways to operate more efficiently, which requires us to review our corporate structure to ensure that we are organised in the right way," Iyer said, adding the fired executives had been offered enhanced severance benefits.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/walmart-told-us-government-indias-e-commerce-rules-regressive-warned-of-trade-impact-235131">India's e-commerce rules regressive, potential to hurt trade ties: Walmart told US government</a>

The Bentonville, Arkansas&nbsp;based company currently operates 28 wholesale stores where it sells goods to small shopkeepers, and not to retail consumers.

The firings mostly affected&nbsp;executives&nbsp;in the company's real estate division because the growth in the wholesale model has not been that robust, two of the&nbsp;sources&nbsp;said.

"It's happening because the focus is shifting to e-commerce rather than physical (stores)," said one source, who declined to be identified as the decision is not public.

Walmart&nbsp;has placed bold bets on&nbsp;India's <a href="https://www.wionews.com/business-economy/india-proposes-new-e-commerce-regulations-with-focus-on-data-rules-199214">e-commerce</a> sector.

In 2018, it paid $16 billion to acquire a majority stake in&nbsp;India's online marketplace <a href="https://www.wionews.com/business-&amp;-economy/walmart-completes-deal-to-acquire-77-stake-in-flipkart-160020">Flipkart</a>, in its biggest global acquisition.

The second source added that while&nbsp;Walmart&nbsp;could slow down the pace of opening new wholesale stores, the focus will increasingly be on boosting sales through business-to-business and retail e-commerce.

Some of the&nbsp;executives&nbsp;were sacked last week and more could be let go on Monday, two&nbsp;sources&nbsp;said.

Walmart&nbsp;has&nbsp;around&nbsp;600 staff in its&nbsp;India&nbsp;head office out of a total of&nbsp;around&nbsp;5,300 nationally, one of the&nbsp;sources&nbsp;said.

Walmart Inc, the world's largest retailer, has fired 56 of its India executives as part of its restructuring in the country, three sources with direct knowledge told Reuters.

Walmart Inc, the world's largest retailer, has fired 56 of its India executives as part of its restructuring in the country, three sources with direct knowledge told Reuters. The move underscores the struggles Walmart has faced in expanding its wholesale business in India. Reuters reported the firings earlier on Monday, citing three people with direct knowledge of the matter, adding the move had mostly affected executives in Walmart's real estate division, which takes care of store expansion, as the wholesale business model did not bring in expected growth. Eight of the 56 executives fired were in "senior management" roles and the rest from middle or lower management, Krish Iyer, President and CEO of Walmart India said in a statement. "We are also looking for ways to operate more efficiently, which requires us to review our corporate structure to ensure that we are organised in the right way," Iyer said, adding the fired executives had been offered enhanced severance benefits. Also read: India's e-commerce rules regressive, potential to hurt trade ties: Walmart told US government The Bentonville, Arkansas based company currently operates 28 wholesale stores where it sells goods to small shopkeepers, and not to retail consumers. The firings mostly affected executives in the company's real estate division because the growth in the wholesale model has not been that robust, two of the sources said. "It's happening because the focus is shifting to e-commerce rather than physical (stores)," said one source, who declined to be identified as the decision is not public. Walmart has placed bold bets on India's e-commerce sector. In 2018, it paid $16 billion to acquire a majority stake in India's online marketplace Flipkart, in its biggest global acquisition. The second source added that while Walmart could slow down the pace of opening new wholesale stores, the focus will increasingly be on boosting sales through business-to-business and retail e-commerce. Some of the executives were sacked last week and more could be let go on Monday, two sources said. Walmart has around 600 staff in its India head office out of a total of around 5,300 nationally, one of the sources said.

Walmart sacks 56 executives in India as part of restructuring

Global economic worries on Thursday caused Wall Street to retreat from record highs following sour economic data from major economies and signs of persistent deadlock in US-China trade talks.

China's Commerce Ministry reiterated its position that tariff concessions from Washington should be part of a phase one deal to resolve the trade conflict, suggesting a resolution to the US-China trade war was slipping out of reach yet again.

About 15 minutes into the trading day, the benchmark Dow Jones Industrial Average was down 0.1 per cent at 27,762.21, lifted by global retailer Walmart, which posted surging quarterly profits thanks to online sales and revenues from Indian retailer Flipkart.

Meanwhile, the S&amp;P 500 was flat at 3,093.35 and the Nasdaq was 0.3 per cent lower at 8,459.39.

Shares in Walmart were up more than 2.3 per cent, marking the best gains since August.

President Donald Trump hailed the Walmart results, saying the proved his trade wars were not damaging the US retail sector.

"No impact from Tariffs (which are contributing $Billions to our Treasury)," he wrote on Twitter.

However, Walmart executives said they are watching the tariff discussions and hoping for a prompt resolution to the dispute.

Networking and telecoms firm Cisco plunged seven per cent a day after cutting earnings guidance for its upcoming fiscal quarter.

"There is no dash for the exit in spite of reported stumbling blocks over China citing the rollback of some existing tariffs as a precondition for doing a deal and the US reportedly not being on board with that precondition," analyst Patrick O'Hare wrote at Briefing.com.

Economic data released Thursday showed further signs of strain in China's economy, with a sharp slowdown in consumer spending and factory production, while investment growth hit a record low as the trade war with the United States takes its toll.

Germany's economy narrowly avoided recession as it eked out 0.1 per cent quarter-on-quarter growth, beating forecasts of a 0.1 per cent contraction but confirming the trade-dependent nation's struggles.

Global economic worries on Thursday caused Wall Street to retreat from record highs following sour economic data from major economies and signs of persistent deadlock in US-China trade talks.

Global economic worries on Thursday caused Wall Street to retreat from record highs following sour economic data from major economies and signs of persistent deadlock in US-China trade talks. China's Commerce Ministry reiterated its position that tariff concessions from Washington should be part of a phase one deal to resolve the trade conflict, suggesting a resolution to the US-China trade war was slipping out of reach yet again. About 15 minutes into the trading day, the benchmark Dow Jones Industrial Average was down 0.1 per cent at 27,762.21, lifted by global retailer Walmart, which posted surging quarterly profits thanks to online sales and revenues from Indian retailer Flipkart. Meanwhile, the S&P 500 was flat at 3,093.35 and the Nasdaq was 0.3 per cent lower at 8,459.39. Shares in Walmart were up more than 2.3 per cent, marking the best gains since August. President Donald Trump hailed the Walmart results, saying the proved his trade wars were not damaging the US retail sector. "No impact from Tariffs (which are contributing $Billions to our Treasury)," he wrote on Twitter. However, Walmart executives said they are watching the tariff discussions and hoping for a prompt resolution to the dispute. Networking and telecoms firm Cisco plunged seven per cent a day after cutting earnings guidance for its upcoming fiscal quarter. "There is no dash for the exit in spite of reported stumbling blocks over China citing the rollback of some existing tariffs as a precondition for doing a deal and the US reportedly not being on board with that precondition," analyst Patrick O'Hare wrote at Briefing.com. Economic data released Thursday showed further signs of strain in China's economy, with a sharp slowdown in consumer spending and factory production, while investment growth hit a record low as the trade war with the United States takes its toll. Germany's economy narrowly avoided recession as it eked out 0.1 per cent quarter-on-quarter growth, beating forecasts of a 0.1 per cent contraction but confirming the trade-dependent nation's struggles.

Wall Street subdued as economic, trade doubts persist

The Indian government is looking into whether hefty discounts offered on Walmart-owned Flipkart and Amazon.com during their online festive sales violate foreign investment rules, a commerce ministry official told Reuters.

India introduced new rules in February aimed at protecting the 130 million people dependent on small-scale retail by deterring big online discounts. The rules forced e-commerce firms to tweak their business structures and drew criticism from the United States, straining trade ties between New Delhi and Washington.

While Amazon and Flipkart say they've complied with the federal rules, local trader groups say the two companies are violating them by burning money to offer discounts - of more than 50% in some cases - during the ongoing festive sales.

Reuters reviewed emails and internal training material from Flipkart showing the company is in some cases offering to reduce, or forfeit, its sales commission from sellers that offer discounts.

The commerce ministry official told Reuters the government was reviewing complaints and evidence filed by the Confederation of All India Traders (CAIT), a group representing some 70 million brick-and-mortar retailers, alleging Amazon and Flipkart were violating the foreign investment rules.

The official declined to comment on possible action, but executives from Amazon and Flipkart were summoned to meet commerce ministry officials last week to discuss the matter.

Flipkart in a statement said it had a "good meeting" with government officials and it was "deeply committed to doing business the right way in India".

Amazon said it had an "open &amp; transparent discussion" with officials and has a high bar for compliance.

Seeking to attract shoppers around the key Hindu festival of Diwali, both retailers have placed full-page advertisements in top national daily the Times of India to showcase discount offerings stretching from Samsung and Apple phones to clothing and diapers.

"Customers are going online because of the unbelievable discounts. Because of these sales at offline businesses are down 30% to 40% this month," CAIT's secretary general Praveen Khandelwal said.

Flipkart&nbsp;Incentives

Two emails received by Flipkart sellers in September, just days ahead of the inaugural phase of the festive sales, showed it offering to partly fund discounts.

The company would "burn" 3% of the discount if a seller lowered a product price by 15%, or 9% if the seller discounted by 30%, said one of the emails.

In training material posted on Flipkart's restricted website for its sellers, seen by Reuters, the company asks them to prepare for the festive season by saying "nothing is bigger than this" and explaining how they can benefit by discounting products for Flipkart's premium customers.

"We want to ensure that you fetch as much profit from it as possible ... whatever the discount you are offering, half of that will be reimbursed to you by Flipkart," a post said.

A Flipkart source said the incentives were compliant with Indian regulations and were aimed at promoting sellers'&nbsp;earnings by effectively reducing the commission they pay.

All India Online Vendors Association, whose 3,500 members sell products on various online platforms including Flipkart, in a statement said fewer than 100 of its members benefitted from Flipkart`s partial discount funding, giving some sellers an unfair advantage.

The Indian government is looking into whether hefty discounts offered on Walmart-owned Flipkart and Amazon.com during their online festive sales violate foreign investment rules, a commerce ministry official told Reuters.

The Indian government is looking into whether hefty discounts offered on Walmart-owned Flipkart and Amazon.com during their online festive sales violate foreign investment rules, a commerce ministry official told Reuters. India introduced new rules in February aimed at protecting the 130 million people dependent on small-scale retail by deterring big online discounts. The rules forced e-commerce firms to tweak their business structures and drew criticism from the United States, straining trade ties between New Delhi and Washington. While Amazon and Flipkart say they've complied with the federal rules, local trader groups say the two companies are violating them by burning money to offer discounts - of more than 50% in some cases - during the ongoing festive sales. Reuters reviewed emails and internal training material from Flipkart showing the company is in some cases offering to reduce, or forfeit, its sales commission from sellers that offer discounts. The commerce ministry official told Reuters the government was reviewing complaints and evidence filed by the Confederation of All India Traders (CAIT), a group representing some 70 million brick-and-mortar retailers, alleging Amazon and Flipkart were violating the foreign investment rules. The official declined to comment on possible action, but executives from Amazon and Flipkart were summoned to meet commerce ministry officials last week to discuss the matter. Flipkart in a statement said it had a "good meeting" with government officials and it was "deeply committed to doing business the right way in India". Amazon said it had an "open & transparent discussion" with officials and has a high bar for compliance. Seeking to attract shoppers around the key Hindu festival of Diwali, both retailers have placed full-page advertisements in top national daily the Times of India to showcase discount offerings stretching from Samsung and Apple phones to clothing and diapers. "Customers are going online because of the unbelievable discounts. Because of these sales at offline businesses are down 30% to 40% this month," CAIT's secretary general Praveen Khandelwal said. Flipkart Incentives Two emails received by Flipkart sellers in September, just days ahead of the inaugural phase of the festive sales, showed it offering to partly fund discounts. The company would "burn" 3% of the discount if a seller lowered a product price by 15%, or 9% if the seller discounted by 30%, said one of the emails. In training material posted on Flipkart's restricted website for its sellers, seen by Reuters, the company asks them to prepare for the festive season by saying "nothing is bigger than this" and explaining how they can benefit by discounting products for Flipkart's premium customers. "We want to ensure that you fetch as much profit from it as possible ... whatever the discount you are offering, half of that will be reimbursed to you by Flipkart," a post said. A Flipkart source said the incentives were compliant with Indian regulations and were aimed at promoting sellers' earnings by effectively reducing the commission they pay. All India Online Vendors Association, whose 3,500 members sell products on various online platforms including Flipkart, in a statement said fewer than 100 of its members benefitted from Flipkart`s partial discount funding, giving some sellers an unfair advantage.

Government looks into Flipkart, Amazon festive discounts after retailer complaints

Amazon.com, Walmart-owned Flipkart and other e-commerce portals in India scrambled on Thursday to pull listings of vaping products a day after the federal government imposed a nationwide <a href="https://www.wionews.com/india-news/government-bans-e-cigarettes-citing-health-hazards-250374">ban on electronic cigarettes</a>.

Warning of an "epidemic" among young people, India banned the sale, production, import and advertising of <a href="https://www.wionews.com/world/world-health-organization-says-e-cigarettes-undoubtedly-harmful-238779">e-cigarettes</a>, dealing a blow to plans of companies such as Philip Morris International and Juul Labs to sell the products in India.

Websites such as Vapestop and Litejoy, which offered vaping products online, discontinued their operations and ran disclaimers related to the government order.

Vaping products, however, were still available on Amazon's India site, while Flipkart and Softbank-backed Snapdeal removed e-cigarettes which were available earlier in the day, Reuters found.

"Online advertising and sales are banned. E-commerce service providers should take down the advertisements and sale offers immediately," Vikas Sheel, a senior health ministry official told Reuters, when asked about the online listings.

Amazon's India site was selling the "Honey Badger" vape device, which resembles a USB flash drive, for 2,799 rupees ($39.35), with flavoured refills. Flipkart had also listed the product earlier.

Amazon said e-cigarettes are not allowed to be listed or sold on&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=http://Amazon.co.in&amp;source=gmail&amp;ust=1568981438627000&amp;usg=AFQjCNEneKHjksBQXERzXjN7RgagedFjaA" href="http://amazon.co.in/" target="_blank">Amazon.co.in</a>&nbsp;as per its policy and it takes action if it learns about sellers evasively listing a prohibited product.

A source with direct knowledge said that Amazon was working to quickly remove the listings.

Flipkart in a statement said it was aware of the ban order and was working with sellers to remove all such products.

Snapdeal, another leading e-commerce website in India, said the e-cigarette category had been disabled.

On Wednesday, India's health ministry said use of e-cigarettes had increased exponentially and acquired epidemic proportions in developed countries, especially among youth and children.

India's ban was issued through an executive order, which has been in force since Wednesday night, a health ministry spokeswoman said.

Pro-vaping groups in India have criticized the government's decision, saying it would deter people from switching from conventional cigarettes to less harmful alternatives.

Amazon.com, Walmart-owned Flipkart and other e-commerce portals in India scrambled on Thursday to pull listings of vaping products a day after the federal government imposed a nationwide ban on electronic cigarettes.

Amazon.com, Walmart-owned Flipkart and other e-commerce portals in India scrambled on Thursday to pull listings of vaping products a day after the federal government imposed a nationwide ban on electronic cigarettes. Warning of an "epidemic" among young people, India banned the sale, production, import and advertising of e-cigarettes, dealing a blow to plans of companies such as Philip Morris International and Juul Labs to sell the products in India. Websites such as Vapestop and Litejoy, which offered vaping products online, discontinued their operations and ran disclaimers related to the government order. Vaping products, however, were still available on Amazon's India site, while Flipkart and Softbank-backed Snapdeal removed e-cigarettes which were available earlier in the day, Reuters found. "Online advertising and sales are banned. E-commerce service providers should take down the advertisements and sale offers immediately," Vikas Sheel, a senior health ministry official told Reuters, when asked about the online listings. Amazon's India site was selling the "Honey Badger" vape device, which resembles a USB flash drive, for 2,799 rupees ($39.35), with flavoured refills. Flipkart had also listed the product earlier. Amazon said e-cigarettes are not allowed to be listed or sold on Amazon.co.in as per its policy and it takes action if it learns about sellers evasively listing a prohibited product. A source with direct knowledge said that Amazon was working to quickly remove the listings. Flipkart in a statement said it was aware of the ban order and was working with sellers to remove all such products. Snapdeal, another leading e-commerce website in India, said the e-cigarette category had been disabled. On Wednesday, India's health ministry said use of e-cigarettes had increased exponentially and acquired epidemic proportions in developed countries, especially among youth and children. India's ban was issued through an executive order, which has been in force since Wednesday night, a health ministry spokeswoman said. Pro-vaping groups in India have criticized the government's decision, saying it would deter people from switching from conventional cigarettes to less harmful alternatives.

Flipkart, Amazon, others rush to pull vaping devices after India ban

Amazon is in talks with Reliance Industries Ltd's retail unit to buy a stake in India's biggest brick-and-mortar retailer, two sources with knowledge of the talks told on Friday.

Amazon's massive online presence could help bolster Reliance's consumer and private labels business.

More importantly, a partnership would help the duo counter Walmart, which last year invested $16 billion in India's Flipkart, in the battle for a bigger share of India's fast-growing e-commerce market.

In late December, India modified rules around foreign direct investment (FDI) in e-commerce, creating additional hurdles for companies such as&nbsp;Amazon&nbsp;and Flipkart, and giving companies such as Reliance an edge.

Amazon&nbsp;had made the proposal to Reliance - controlled by Mukesh Ambani, India's richest man - for the partnership, but it was not clear whether a deal would materialize, said one of the sources.

The second source said&nbsp;Amazon&nbsp;had been pondering a proposal to purchase an up to 26% stake in the Reliance unit since at least February.

"For&nbsp;Amazon, it is about neutralizing a major rival and allowing itself to grow," said the second source, who added the company envisions helping Reliance's roughly 40 brands and grocery products go online.

Further details of the possible deal, first reported by India's Economic Times newspaper on Thursday, were not immediately clear.

Amazon, which declined to comment on Thursday, did not immediately respond to request for comment on Friday. Reliance on Friday pointed to its Thursday statement, which said it would make any disclosures to stock exchanges as and when necessary.

Reliance could potentially leverage&nbsp;Amazon's global experience in technology, supply chain and logistics as it aims to connect grocery stores across the country digitally through its Jio telecoms network - the biggest in India by subscribers.

For&nbsp;Amazon, picking up a stake in a Reliance unit could mean getting access to the Jio telecoms platform and its vast retail footprint of more than 10,600 stores across India. It might also add more firepower to their lobbying efforts, as the Ambani family is viewed as being well-connected politically.

Seattle-based&nbsp;Amazon&nbsp;is keen to get a bigger share of India's e-commerce market, which Deloitte expects to more than treble to $84 billion between 2017 and 2021.

Reliance was previously in talks with China's Alibaba to sell a stake in Reliance Retail, but a deal could not be sealed due to differences in valuation, according to a person familiar with the matter.

Amazon is in talks with Reliance Industries Ltd's retail unit to buy a stake in India's biggest brick-and-mortar retailer, two sources with knowledge of the talks told on Friday.

Amazon is in talks with Reliance Industries Ltd's retail unit to buy a stake in India's biggest brick-and-mortar retailer, two sources with knowledge of the talks told on Friday. Amazon's massive online presence could help bolster Reliance's consumer and private labels business. More importantly, a partnership would help the duo counter Walmart, which last year invested $16 billion in India's Flipkart, in the battle for a bigger share of India's fast-growing e-commerce market. In late December, India modified rules around foreign direct investment (FDI) in e-commerce, creating additional hurdles for companies such as Amazon and Flipkart, and giving companies such as Reliance an edge. Amazon had made the proposal to Reliance - controlled by Mukesh Ambani, India's richest man - for the partnership, but it was not clear whether a deal would materialize, said one of the sources. The second source said Amazon had been pondering a proposal to purchase an up to 26% stake in the Reliance unit since at least February. "For Amazon, it is about neutralizing a major rival and allowing itself to grow," said the second source, who added the company envisions helping Reliance's roughly 40 brands and grocery products go online. Further details of the possible deal, first reported by India's Economic Times newspaper on Thursday, were not immediately clear. Amazon, which declined to comment on Thursday, did not immediately respond to request for comment on Friday. Reliance on Friday pointed to its Thursday statement, which said it would make any disclosures to stock exchanges as and when necessary. Reliance could potentially leverage Amazon's global experience in technology, supply chain and logistics as it aims to connect grocery stores across the country digitally through its Jio telecoms network - the biggest in India by subscribers. For Amazon, picking up a stake in a Reliance unit could mean getting access to the Jio telecoms platform and its vast retail footprint of more than 10,600 stores across India. It might also add more firepower to their lobbying efforts, as the Ambani family is viewed as being well-connected politically. Seattle-based Amazon is keen to get a bigger share of India's e-commerce market, which Deloitte expects to more than treble to $84 billion between 2017 and 2021. Reliance was previously in talks with China's Alibaba to sell a stake in Reliance Retail, but a deal could not be sealed due to differences in valuation, according to a person familiar with the matter.

Amazon in talks with Reliance Retail to buy a stake: Sources

Amazon.com Inc is in exploratory talks with Reliance Industries Ltd owned Reliance Retail for buying up to 26 per cent stake in India`s biggest brick-and-mortar retailer, the Economic Times (ET) reported on Thursday.

Talks began after <a href="https://www.wionews.com/business-economy/sensex-nifty-reverse-course-to-close-lower-reliance-industries-banks-drag-239500">Reliance's</a> negotiations with China`s Alibaba Group to sell a stake in the retail entity fell through due to differences overvaluation, the financial daily reported citing two senior industry executives.

However, there is no certainty the initial discussions will lead to a deal, according to the report.

Amazon has been engaged in a pitched battle for Indian market share against <a href="https://www.wionews.com/business-economy/walmart-told-us-government-indias-e-commerce-rules-regressive-warned-of-trade-impact-235131">Walmart</a> Inc's Flipkart, with both companies announcing various plans to attract more customers in what is viewed as one of their most important growth markets.

Reuters reported on Monday that the Seattle based eCommerce giant was planning a foray into the burgeoning online food delivery business in India this year.

Both Amazon and Reliance did not immediately respond to Reuters` requests for comments.

Amazon.com Inc is in exploratory talks with Reliance Industries Ltd owned Reliance Retail for buying up to 26 per cent stake in India`s biggest brick-and-mortar retailer, the Economic Times (ET) reported on Thursday.

Amazon.com Inc is in exploratory talks with Reliance Industries Ltd owned Reliance Retail for buying up to 26 per cent stake in India`s biggest brick-and-mortar retailer, the Economic Times (ET) reported on Thursday. Talks began after Reliance's negotiations with China`s Alibaba Group to sell a stake in the retail entity fell through due to differences overvaluation, the financial daily reported citing two senior industry executives. However, there is no certainty the initial discussions will lead to a deal, according to the report. Amazon has been engaged in a pitched battle for Indian market share against Walmart Inc's Flipkart, with both companies announcing various plans to attract more customers in what is viewed as one of their most important growth markets. Reuters reported on Monday that the Seattle based eCommerce giant was planning a foray into the burgeoning online food delivery business in India this year. Both Amazon and Reliance did not immediately respond to Reuters` requests for comments.

Amazon in talks to buy stake in Reliance Retail: Reports

The United States will seek rollback of Indian tariffs imposed on some agricultural products such as almonds when the two sides meet on Friday, a senior Indian government source told Reuters.

A delegation led by Assistant US Trade Representative for South and Central Asia, Christopher Wilson, will meet Indian officials to try to <a href="https://www.wionews.com/india-news/india-us-begin-trade-talks-new-delhi-says-keep-bigger-picture-in-mind-235057">re-start negotiations on the tariffs</a>, which were a response to the US removing some trade privileges from Indian products.

US President Donald Trump has been putting pressure on India to do more to open its markets, saying this week on Twitter that its high tariffs were "unacceptable".

The United States would seek a rollback of some of those tariffs, and India would in return seek better access to the US market for Indian farm products, said the Indian official who is aware of the agenda for discussions. He declined to be named.

India was unlikely to immediately commit to any changes to foreign investment rules for foreign e-commerce firms such as Walmart's Flipkart and Amazon, the official said. The rules have forced the two American companies to rework their business strategies for India.

Walmart told the US government privately in January that <a href="https://www.wionews.com/business-economy/walmart-told-us-government-indias-e-commerce-rules-regressive-warned-of-trade-impact-235131">India's new investment rules for e-commerce were regressiv</a>e and had the potential to hurt trade ties, Reuters reported on Thursday.

The United States will seek rollback of Indian tariffs imposed on some agricultural products such as almonds when the two sides meet on Friday, a senior Indian government source told Reuters.

The United States will seek rollback of Indian tariffs imposed on some agricultural products such as almonds when the two sides meet on Friday, a senior Indian government source told Reuters. A delegation led by Assistant US Trade Representative for South and Central Asia, Christopher Wilson, will meet Indian officials to try to re-start negotiations on the tariffs, which were a response to the US removing some trade privileges from Indian products. US President Donald Trump has been putting pressure on India to do more to open its markets, saying this week on Twitter that its high tariffs were "unacceptable". The United States would seek a rollback of some of those tariffs, and India would in return seek better access to the US market for Indian farm products, said the Indian official who is aware of the agenda for discussions. He declined to be named. India was unlikely to immediately commit to any changes to foreign investment rules for foreign e-commerce firms such as Walmart's Flipkart and Amazon, the official said. The rules have forced the two American companies to rework their business strategies for India. Walmart told the US government privately in January that India's new investment rules for e-commerce were regressive and had the potential to hurt trade ties, Reuters reported on Thursday.

US to seek rollback of Indian tariffs during trade talk: Report

Walmart Inc's Indian unit Flipkart said late Thursday it plans to replace nearly 40% of its current fleet of delivery vans with electric vehicles (EVs) by March 2020, as part of its efforts to cut down on its carbon footprint.

The Bengaluru-based e-commerce company said it will start with deploying 160 vans by 2019-end. Some of these EVs are already plying in New Delhi.

Flipkart has amped up its focus on sustainability since its $16 billion acquisition by Walmart last year. The company has also expanded its operations at a fast pace as it competes with rival Amazon Inc in India's online sales market.

Flipkart's move towards electric vehicles, the first among big online firms in the country, comes as the Indian government is pushing for faster adoption of these to fight pollution.

"These efforts will help us meaningfully contribute towards electric mobility... while bringing cost efficiencies for the business. In this process, we also hope to create an ecosystem for adoption of electric mobility in India," Amitesh Jha, senior vice-president of Ekart and Marketplace at Flipkart, said in a statement.

E-commerce companies in India are also in talks with the government around various policies related to their operations in the country. Earlier this week, Commerce Minister Piyush Goyal met with e-commerce companies, including Flipkart, to talk about compliance with new foreign investment rules, Reuters reported citing sources.

In a statement dated June 27, Flipkart said it is working with local partners to co-design concepts for EVs best suited for the growing e-commerce industry.

"We believe these small but meaningful steps in this direction will go a long way in paving the way for larger adoption of EVs in the country," group Chief Executive Kalyan Krishnamurthy, said.

The electric last-mile delivery vehicles will help cut Flipkart's carbon emissions by over 50%, the company added. 
&nbsp;

Walmart Inc's Indian unit Flipkart said late Thursday it plans to replace nearly 40% of its current fleet of delivery vans with electric vehicles (EVs) by March 2020, as part of its efforts to cut down on its carbon footprint.

Walmart Inc's Indian unit Flipkart said late Thursday it plans to replace nearly 40% of its current fleet of delivery vans with electric vehicles (EVs) by March 2020, as part of its efforts to cut down on its carbon footprint. The Bengaluru-based e-commerce company said it will start with deploying 160 vans by 2019-end. Some of these EVs are already plying in New Delhi. Flipkart has amped up its focus on sustainability since its $16 billion acquisition by Walmart last year. The company has also expanded its operations at a fast pace as it competes with rival Amazon Inc in India's online sales market. Flipkart's move towards electric vehicles, the first among big online firms in the country, comes as the Indian government is pushing for faster adoption of these to fight pollution. "These efforts will help us meaningfully contribute towards electric mobility... while bringing cost efficiencies for the business. In this process, we also hope to create an ecosystem for adoption of electric mobility in India," Amitesh Jha, senior vice-president of Ekart and Marketplace at Flipkart, said in a statement. E-commerce companies in India are also in talks with the government around various policies related to their operations in the country. Earlier this week, Commerce Minister Piyush Goyal met with e-commerce companies, including Flipkart, to talk about compliance with new foreign investment rules, Reuters reported citing sources. In a statement dated June 27, Flipkart said it is working with local partners to co-design concepts for EVs best suited for the growing e-commerce industry. "We believe these small but meaningful steps in this direction will go a long way in paving the way for larger adoption of EVs in the country," group Chief Executive Kalyan Krishnamurthy, said. The electric last-mile delivery vehicles will help cut Flipkart's carbon emissions by over 50%, the company added.

Flipkart to replace 40% of its delivery vans with electric vehicles

American retail giant Amazon has infused Rs 450 crore into its payments unit in India - Amazon Pay, according to regulatory documents.

Amazon Pay (India) has allotted 45 crore shares of Rs 10 each aggregating to Rs 450 crore to Amazon Corporate Holdings and Amazon.Com.Incs Ltd, documents filed with Corporate Affairs Ministry showed.

The documents, sourced by business intelligence platform Tofler, said the date of allotment was June 6, 2019.

Amazon Corporate Holdings has pumped in Rs 449.95 crore, while the remaining came from Amazon.Com.Incs Ltd. E-mails sent to Amazon India did not elicit a response.

The funding comes at a time when companies like Paytm, Flipkart-owned PhonePe, Google Pay and others are making significant investments to tap into the booming digital payments market in India.&nbsp;

Many of these firms have been offering significant cashbacks to woo customers to use their platforms to make payments for utilities and shopping.&nbsp;

American retail giant Amazon has infused Rs 450 crore into its payments unit in India - Amazon Pay, according to regulatory documents. Amazon Pay (India) has allotted 45 crore shares of Rs 10 each aggregating to Rs 450 crore to Amazon Corporate Holdings and Amazon.

American retail giant Amazon has infused Rs 450 crore into its payments unit in India - Amazon Pay, according to regulatory documents. Amazon Pay (India) has allotted 45 crore shares of Rs 10 each aggregating to Rs 450 crore to Amazon Corporate Holdings and Amazon.Com.Incs Ltd, documents filed with Corporate Affairs Ministry showed. The documents, sourced by business intelligence platform Tofler, said the date of allotment was June 6, 2019. Amazon Corporate Holdings has pumped in Rs 449.95 crore, while the remaining came from Amazon.Com.Incs Ltd. E-mails sent to Amazon India did not elicit a response. The funding comes at a time when companies like Paytm, Flipkart-owned PhonePe, Google Pay and others are making significant investments to tap into the booming digital payments market in India. Many of these firms have been offering significant cashbacks to woo customers to use their platforms to make payments for utilities and shopping.

Amazon invests Rs 450 crore in India payments unit

Investigation has been initiated against e-commerce giants Amazon and Flipkart for alleged violation of foreign exchange law, the Enforcement Directorate (ED) Monday informed the Delhi High Court.

A bench of Chief Justice Rajendra Menon and Justice A J Bhambhani noted the submissions of the ED that a case has been registered under provisions of the Foreign Exchange Management Act (FEMA) against the two companies and disposed of a PIL which has alleged that the e-commerce giants were violating foreign direct investment (FDI) norms.

The court had earlier sought response of the central government, Amazon and Flipkart to the plea which has sought a probe into the alleged FDI violations.

The ED, in its reply filed through central government standing counsel Amit Mahajan, has said the "department has already registered and initiated investigation under the provisions of FEMA against the two companies to ascertain whether they have been contravening any provisions of FEMA or contravening any rule, regulations, notification, direction or order issued in exercise of the powers under FEMA...."

The agency also sought dismissal of the petition.

The petition by an NGO, Telecom Watchdog, also asked for initiation of legal proceedings against the two e-commerce companies under the FEMA for alleged violation and circumvention of FDI norms.

The plea, filed through advocate Pranav Sachdeva, has claimed that Amazon and Flipkart have created multiple entities to circumvent the FDI norms and route the hot-selling stock at cheaper rates.

The petition has contended that according to Press Note 3 of 2016, which regulates FDI in e-commerce, entities like Amazon and Flipkart are not to exercise ownership over stock, nor directly or indirectly influence price of goods and services sold on their marketplace.

It claimed that by creating name lending companies, Amazon and Flipkart buy branded goods in bulk at discounts from manufacturers and render small sellers uncompetitive by a wide margin, thus influencing the prices in violation of the FDI norms.

"As a consequence of this FDI norms violation, smaller sellers are unable to participate in the fast-growing e-commerce sector," the plea has contended, adding that due to subsidised prices on such platforms, small sellers are unable to sell in the brick-n-mortar world too.

Besides, the plea has also claimed that the two e-commerce firms have created several other group companies in the chain to divide discounts and losses.

"Exchange offers, EMI costs and bank offers are funded completely or substantially by Amazon and Flipkart and constitute a clear influence on price in violation of FDI norms," it has alleged.

Investigation has been initiated against e-commerce giants Amazon and Flipkart for alleged violation of foreign exchange law, the Enforcement Directorate (ED) Monday informed the Delhi High Court.

Investigation has been initiated against e-commerce giants Amazon and Flipkart for alleged violation of foreign exchange law, the Enforcement Directorate (ED) Monday informed the Delhi High Court. A bench of Chief Justice Rajendra Menon and Justice A J Bhambhani noted the submissions of the ED that a case has been registered under provisions of the Foreign Exchange Management Act (FEMA) against the two companies and disposed of a PIL which has alleged that the e-commerce giants were violating foreign direct investment (FDI) norms. The court had earlier sought response of the central government, Amazon and Flipkart to the plea which has sought a probe into the alleged FDI violations. The ED, in its reply filed through central government standing counsel Amit Mahajan, has said the "department has already registered and initiated investigation under the provisions of FEMA against the two companies to ascertain whether they have been contravening any provisions of FEMA or contravening any rule, regulations, notification, direction or order issued in exercise of the powers under FEMA...." The agency also sought dismissal of the petition. The petition by an NGO, Telecom Watchdog, also asked for initiation of legal proceedings against the two e-commerce companies under the FEMA for alleged violation and circumvention of FDI norms. The plea, filed through advocate Pranav Sachdeva, has claimed that Amazon and Flipkart have created multiple entities to circumvent the FDI norms and route the hot-selling stock at cheaper rates. The petition has contended that according to Press Note 3 of 2016, which regulates FDI in e-commerce, entities like Amazon and Flipkart are not to exercise ownership over stock, nor directly or indirectly influence price of goods and services sold on their marketplace. It claimed that by creating name lending companies, Amazon and Flipkart buy branded goods in bulk at discounts from manufacturers and render small sellers uncompetitive by a wide margin, thus influencing the prices in violation of the FDI norms. "As a consequence of this FDI norms violation, smaller sellers are unable to participate in the fast-growing e-commerce sector," the plea has contended, adding that due to subsidised prices on such platforms, small sellers are unable to sell in the brick-n-mortar world too. Besides, the plea has also claimed that the two e-commerce firms have created several other group companies in the chain to divide discounts and losses. "Exchange offers, EMI costs and bank offers are funded completely or substantially by Amazon and Flipkart and constitute a clear influence on price in violation of FDI norms," it has alleged.

Enforcement Directorate probes Amazon, Flipkart for violation of foreign exchange law

India outlined a new draft policy for its burgeoning e-commerce sector on Saturday, focusing on data localisation, improved privacy safeguards and measures to combat the sale of counterfeit products.

The proposed overhaul, which would likely increase operating costs for the sector, comes two months after the country modified regulations governing foreign direct investment in e-commerce.

That forced retail giants Amazon.com Inc and Walmart-owned Flipkart to restructure their Indian operations, and the latest reforms spell further upheaval.

"In the future, economic activity is likely to follow data," the widely expected draft policy document said. "It is hence vital that we retain control of data to ensure job creation within India".

The new rules call for the housing of more data centres and server farms locally, amid a broader push for data localization by the South Asian nation, which is one of the world's fastest-growing online markets.

India's central bank in 2018 forced payments providers such as Mastercard and Visa Inc to store Indian users' data locally.

"Steps will be taken to develop capacity for data storage in India," the draft e-commerce rules said. "A period of three years would be given to allow industry to adjust to the data storage requirement."

Flipkart and Amazon said they were going through the draft rules and will share their inputs with the government.

The proposed rules also seek the creation of a "legal and technological framework" that can help impose restrictions on the cross-border flow of data generated by users, moves that may affect not just e-commerce platforms but also social media firms such as Alphabet Inc's Google and rival Facebook Inc.

India also plans to mandate all e-commerce firms to provide access to their data stored abroad whenever official requests are made. The rules, which come at a time New Delhi is working on a broader data privacy law, also forbid companies from sharing data stored abroad with other businesses even with user consent.

Other proposals include mandating all e-commerce websites or apps operating in India to have a locally registered business entity, and increasing liability of e-commerce players to ensure products sold on their platforms are not counterfeit or pirated.

"Lot of issues covered, bold decisions," the All India Online Vendors Association, which represents more than 3,500 online sellers, said in a tweet.

New Delhi has invited comments on the proposed rules by March 9, after which the rules are likely to be formalised.

India outlined a new draft policy for its burgeoning e-commerce sector on Saturday, focusing on data localisation, improved privacy safeguards and measures to combat the sale of counterfeit products.

India outlined a new draft policy for its burgeoning e-commerce sector on Saturday, focusing on data localisation, improved privacy safeguards and measures to combat the sale of counterfeit products. The proposed overhaul, which would likely increase operating costs for the sector, comes two months after the country modified regulations governing foreign direct investment in e-commerce. That forced retail giants Amazon.com Inc and Walmart-owned Flipkart to restructure their Indian operations, and the latest reforms spell further upheaval. "In the future, economic activity is likely to follow data," the widely expected draft policy document said. "It is hence vital that we retain control of data to ensure job creation within India". The new rules call for the housing of more data centres and server farms locally, amid a broader push for data localization by the South Asian nation, which is one of the world's fastest-growing online markets. India's central bank in 2018 forced payments providers such as Mastercard and Visa Inc to store Indian users' data locally. "Steps will be taken to develop capacity for data storage in India," the draft e-commerce rules said. "A period of three years would be given to allow industry to adjust to the data storage requirement." Flipkart and Amazon said they were going through the draft rules and will share their inputs with the government. The proposed rules also seek the creation of a "legal and technological framework" that can help impose restrictions on the cross-border flow of data generated by users, moves that may affect not just e-commerce platforms but also social media firms such as Alphabet Inc's Google and rival Facebook Inc. India also plans to mandate all e-commerce firms to provide access to their data stored abroad whenever official requests are made. The rules, which come at a time New Delhi is working on a broader data privacy law, also forbid companies from sharing data stored abroad with other businesses even with user consent. Other proposals include mandating all e-commerce websites or apps operating in India to have a locally registered business entity, and increasing liability of e-commerce players to ensure products sold on their platforms are not counterfeit or pirated. "Lot of issues covered, bold decisions," the All India Online Vendors Association, which represents more than 3,500 online sellers, said in a tweet. New Delhi has invited comments on the proposed rules by March 9, after which the rules are likely to be formalised.

India proposes new e-commerce regulations with focus on data rules

Flipkart co-founder Sachin Bansal has invested about Rs 650 crore in Ola, giving the Indian ride-hailing company more ammunition to compete with rival Uber.

The investment is in Sachin's personal capacity and is also the largest financing by an individual in Ola till date, Ola said in a statement.

In January, Ola had issued shares worth Rs 150 crore to Sachin as part of series J round of funding.

Sachin, who founded Flipkart over a decade ago with Binny Bansal, had quit after US retail behemoth Walmart picked up 77 per cent stake in the Indian e-commerce company for USD 16 billion.

"Ola is one of India's most promising consumer businesses, that is creating deep impact and lasting value for the ecosystem," Sachin said.

The investment is part of Ola's plans to raise about USD 1 billion in funding. In October last year, the Bengaluru-based company had announced raising USD 1.1 billion funding from China's Tencent Holdings and SoftBank Group. 
It had also stated that it was in "advanced talks" to close an additional USD 1 billion funding to take total mop-up to more than USD 2 billion.

Ola is locked in a battle for market leadership with US-based rival Uber in India and other markets like Australia, New Zealand and the UK.

The Indian company has been aggressively ramping up its rides business as well as hailing platform and food delivery operations (through Foodpanda).

"We are extremely thrilled to have Sachin onboard Ola as an investor. Sachin is an icon of entrepreneurship and his experience of building one of India's most respected businesses ground up, is unparalleled," said Bhavish Aggarwal, co-founder and CEO at Ola.

Flipkart co-founder Sachin Bansal has invested about Rs 650 crore in Ola, giving the Indian ride-hailing company more ammunition to compete with rival Uber. The investment is in Sachin's personal capacity and is also the largest financing by an individual in Ola till date, Ola said in a statement.

Flipkart co-founder Sachin Bansal has invested about Rs 650 crore in Ola, giving the Indian ride-hailing company more ammunition to compete with rival Uber. The investment is in Sachin's personal capacity and is also the largest financing by an individual in Ola till date, Ola said in a statement. In January, Ola had issued shares worth Rs 150 crore to Sachin as part of series J round of funding. Sachin, who founded Flipkart over a decade ago with Binny Bansal, had quit after US retail behemoth Walmart picked up 77 per cent stake in the Indian e-commerce company for USD 16 billion. "Ola is one of India's most promising consumer businesses, that is creating deep impact and lasting value for the ecosystem," Sachin said. The investment is part of Ola's plans to raise about USD 1 billion in funding. In October last year, the Bengaluru-based company had announced raising USD 1.1 billion funding from China's Tencent Holdings and SoftBank Group. It had also stated that it was in "advanced talks" to close an additional USD 1 billion funding to take total mop-up to more than USD 2 billion. Ola is locked in a battle for market leadership with US-based rival Uber in India and other markets like Australia, New Zealand and the UK. The Indian company has been aggressively ramping up its rides business as well as hailing platform and food delivery operations (through Foodpanda). "We are extremely thrilled to have Sachin onboard Ola as an investor. Sachin is an icon of entrepreneurship and his experience of building one of India's most respected businesses ground up, is unparalleled," said Bhavish Aggarwal, co-founder and CEO at Ola.

Flipkart co-founder Sachin Bansal invests Rs 650 crore in Ola cabs

The chief executive officer of Myntra and Jabong, a unit of Walmart-owned Flipkart, Ananth Narayanan has left the company to pursue external opportunities, Myntra said on Monday.

Narayanan is in talks to replace Ajith Mohan as the chief executive officer of video streaming service Hotstar, the Economic Times reported, citing sources.

Mohan had taken over as the managing director and vice-president of Facebook India in September.

Flipkart's Amar Nagaram has been named as the head of Myntra and Jabong, the e-commerce fashion company said.

Hotstar did not immediately respond to a request for comment.

Flipkart's Amar Nagaram has been named as the head of Myntra and Jabong, the e-commerce fashion company said.

The chief executive officer of Myntra and Jabong, a unit of Walmart-owned Flipkart, Ananth Narayanan has left the company to pursue external opportunities, Myntra said on Monday. Narayanan is in talks to replace Ajith Mohan as the chief executive officer of video streaming service Hotstar, the Economic Times reported, citing sources. Mohan had taken over as the managing director and vice-president of Facebook India in September. Flipkart's Amar Nagaram has been named as the head of Myntra and Jabong, the e-commerce fashion company said. Hotstar did not immediately respond to a request for comment.

Flipkart unit Myntra and Jabong CEO Ananth Narayanan steps down

The NDA government’s tweaks in the retail policy for electronic commerce (e-commerce) are to placate its largest constituency of dookandars, small traders and shop-owners who were badly bruised by the twin blows of demonetisation in 2016 and Goods and Services Tax (GST) in July 2017. So, the Department of Industrial Policy and Promotion (DIPP), meant to design policy and promote industrial development, including inviting foreign direct investment (FDI), unveiled a policy to restrict the activities of foreign mega retail giants such as Amazon and Flipkart and enable domestic retail outlets and the rest of the vast universe of mom-and-pop shops to breathe easier.

E-commerce is defined as the ‘production, distribution, marketing, sale or delivery of goods and services by electronic means’. An e-commerce transaction can be between enterprises, households, individuals, governments and other public or private bodies. The DIPP clarifications or amendments to the extant press note on the subject on December 23 focus on the provision that vendors with any stake owned by an e-commerce company cannot sell their products on the e-commerce company’s portal. 
 
This is meant to whittle down their competitive strength and aggressive marketing techniques that at times border on excessive bombardment of hapless consumers with tokenism like deep discounts, door delivery in amazing speed which a small shop-owner is at his wits end to match! This is particularly so as large e-commerce firms such as Flipkart and Amazon, not owing inventory themselves, have been extending a platform for their group companies such as WS Retail and CloudTail respectively. In a way, the new policy adjustment is to mollify the anguish and agony among offline retailers over massive discounts and the concomitant leap in e-commerce sales.

Yet another provision postulates any vendor which purchases 25 per cent or more of its inventory from an e-commerce group company is deemed to be controlled by that e-commerce company and thereby barred from selling on its portal. This is to put an end to anti-competitive practices in the absence of a domain regulator for e-commerce transactions, which the government conceded in a written response to a query in the Rajya Sabha on December 13 that “there is no proposal at present for setting up a regulator for e-commerce”.

What the DIPP amendments to extant rules seek to achieve is to deny control by such big retail behemoths as Amazon and Flipkart over vendors. The third principal provision clearly notes that the e-commerce firm must not sway the price of a product sold on its portal by extending spurs/freebies to particular vendors to keep them on or get them hooked permanently! Officials seeking anonymity maintain that these clarifications to the policy were designed to address “anti-competitive” proclivities by e-commerce players as these online market places were egregiously subsidizing products putting at a big disadvantage small retailers across the nation.

The other side of the argument is that India has become a huge playground for Amazon and Wal-Mart as they have committed a combined 21 billion US dollars to this middle-class and aspiring youthful populace using the purchase of goods services digitally. Amazon, for instance, has multiple joint ventures, including Cloudtail and Appario, that might be hit by the restrictions on sales by related parties. Flipkart has exclusive partnership with smartphone brands like Xiamoi and Oppo that could also encounter a formidable hurdle on exclusive deals for products by the latest tweak in policy. 
 
It is no brainer that both offer promotional schemes such as cash-backs and expeditious delivery which are now construed discriminatory/ predatory! Besides, as these companies come under the Foreign Exchange Management Act (FEMA) they must perforce have to provide minutiae to the RBI annually, adding yet another layer to compliance and monitoring of the e-commerce industry. This also attenuates India’s audacious claim that it has improved on the ease of doing business for investors, both domestic and overseas, the latter in particular for the FDI it brings in the form of best managerial practices, modern technology and opportunities of integration into global markets contributing to accelerated domestic growth and job creation in the country.

It is small wonder that the US-India Strategic Partnership Forum (USISPF) termed the tweaks in policy as regressive, taking the alibi of the move being detrimental to the welfare and interests of consumers who benefit by inexpensive goods American retailers have been providing ever since the FDI in e-commerce was allowed 100 per cent in single-brand retailing and other policy support placed from time to time.

Considering the fact that the country’s e-commerce market is now close to 39 billion US dollars, growing at a healthy double-digit rate, thanks to the demographic dividend of youthful populace splurging their income through digital-commerce by the click of a mouse, the government ought to have been wary of upsetting the apple-cart by taking part in the foreign versus domestic turf war. 
 
(This article was originally published on DNA. Read the <a href="https://www.dnaindia.com/analysis/column-a-breather-for-small-retailers-punched-hard-by-e-commerce-giants-2703511">original article</a>)

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL) 
&nbsp;

The NDA government’s tweaks in the retail policy for electronic commerce (e-commerce) are to placate its largest constituency of dookandars, small traders and shop-owners who were badly bruised by the twin blows of demonetisation in 2016 and Goods and Services Tax (GST) in July 2017.

The NDA government’s tweaks in the retail policy for electronic commerce (e-commerce) are to placate its largest constituency of dookandars, small traders and shop-owners who were badly bruised by the twin blows of demonetisation in 2016 and Goods and Services Tax (GST) in July 2017. So, the Department of Industrial Policy and Promotion (DIPP), meant to design policy and promote industrial development, including inviting foreign direct investment (FDI), unveiled a policy to restrict the activities of foreign mega retail giants such as Amazon and Flipkart and enable domestic retail outlets and the rest of the vast universe of mom-and-pop shops to breathe easier. E-commerce is defined as the ‘production, distribution, marketing, sale or delivery of goods and services by electronic means’. An e-commerce transaction can be between enterprises, households, individuals, governments and other public or private bodies. The DIPP clarifications or amendments to the extant press note on the subject on December 23 focus on the provision that vendors with any stake owned by an e-commerce company cannot sell their products on the e-commerce company’s portal. This is meant to whittle down their competitive strength and aggressive marketing techniques that at times border on excessive bombardment of hapless consumers with tokenism like deep discounts, door delivery in amazing speed which a small shop-owner is at his wits end to match! This is particularly so as large e-commerce firms such as Flipkart and Amazon, not owing inventory themselves, have been extending a platform for their group companies such as WS Retail and CloudTail respectively. In a way, the new policy adjustment is to mollify the anguish and agony among offline retailers over massive discounts and the concomitant leap in e-commerce sales. Yet another provision postulates any vendor which purchases 25 per cent or more of its inventory from an e-commerce group company is deemed to be controlled by that e-commerce company and thereby barred from selling on its portal. This is to put an end to anti-competitive practices in the absence of a domain regulator for e-commerce transactions, which the government conceded in a written response to a query in the Rajya Sabha on December 13 that “there is no proposal at present for setting up a regulator for e-commerce”. What the DIPP amendments to extant rules seek to achieve is to deny control by such big retail behemoths as Amazon and Flipkart over vendors. The third principal provision clearly notes that the e-commerce firm must not sway the price of a product sold on its portal by extending spurs/freebies to particular vendors to keep them on or get them hooked permanently! Officials seeking anonymity maintain that these clarifications to the policy were designed to address “anti-competitive” proclivities by e-commerce players as these online market places were egregiously subsidizing products putting at a big disadvantage small retailers across the nation. The other side of the argument is that India has become a huge playground for Amazon and Wal-Mart as they have committed a combined 21 billion US dollars to this middle-class and aspiring youthful populace using the purchase of goods services digitally. Amazon, for instance, has multiple joint ventures, including Cloudtail and Appario, that might be hit by the restrictions on sales by related parties. Flipkart has exclusive partnership with smartphone brands like Xiamoi and Oppo that could also encounter a formidable hurdle on exclusive deals for products by the latest tweak in policy. It is no brainer that both offer promotional schemes such as cash-backs and expeditious delivery which are now construed discriminatory/ predatory! Besides, as these companies come under the Foreign Exchange Management Act (FEMA) they must perforce have to provide minutiae to the RBI annually, adding yet another layer to compliance and monitoring of the e-commerce industry. This also attenuates India’s audacious claim that it has improved on the ease of doing business for investors, both domestic and overseas, the latter in particular for the FDI it brings in the form of best managerial practices, modern technology and opportunities of integration into global markets contributing to accelerated domestic growth and job creation in the country. It is small wonder that the US-India Strategic Partnership Forum (USISPF) termed the tweaks in policy as regressive, taking the alibi of the move being detrimental to the welfare and interests of consumers who benefit by inexpensive goods American retailers have been providing ever since the FDI in e-commerce was allowed 100 per cent in single-brand retailing and other policy support placed from time to time. Considering the fact that the country’s e-commerce market is now close to 39 billion US dollars, growing at a healthy double-digit rate, thanks to the demographic dividend of youthful populace splurging their income through digital-commerce by the click of a mouse, the government ought to have been wary of upsetting the apple-cart by taking part in the foreign versus domestic turf war. (This article was originally published on DNA. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

A breather for small retailers punched hard by e-commerce giants

Expressing concern over India tightening restrictions on foreign e-commerce companies operating in the country, leading American industry advocacy groups have said that such a move would have a long-term negative impact on the foreign direct investment as well as consumers.

Earlier this week, the government announced changes to the foreign direct investment policy for the ecommerce sector, which would end discounts and cashback offers that online platforms with foreign investment were offering.&nbsp;

Flipkart and US-based Amazon -- the two largest players in the burgeoning Indian e-commerce sector -- are expected to be hit the hardest once the new norms come into effect from February 2019.

"The new e-commerce restrictions announced by the government of India on December 26 are a cause for concern. While we are still trying to understand the full implications, we fear that these restrictions will have a far-reaching negative impact both on US investments and on Indian consumers," said Nisha Desai Biswal, president of US India Chambers of Commerce (USAIC), a wing of the US Chambers of Commerce.

The former Assistant Secretary of State for South and Central Asia said the US-India Business Council (USIBC) said that a February 1 deadline is too rushed and does not allow sufficient time for companies to analyse the policy and to comply.

"We urge the government to delay implementation and allow time for comment before the policy goes into effect,"&nbsp;Biswal said.

Mukesh Aghi, president of US India Strategic and Partnership Forum (USISPF) said "this is not in the best interest of the Indian consumers."&nbsp;

"Coming out with such a major policy change overnight without any consultative process eats into the predictability&nbsp;and reliability factor that all US companies are looking into India for any foreign direct investment," he said.

"I wish there was a little more consultative process, because you have companies like Walmart, which has put in $16 billion and they are in the process of putting more money to streamline their investment, it makes our job more difficult because how do I go and tell them please invest more and the policy would not change overnight,"&nbsp;said Aghi, who has been working with US companies to make large scale investment in India.&nbsp;

"I have embarked on a campaign convincing US company manufacturing in China to move it to India. How do I tell them, hey policies overnight would not change,"&nbsp;he said, adding that with such policy pronouncements, India can't have a "transparent, predictable environment"&nbsp;which is a must for any foreign company to invest.

Referring to Union Commerce and Industries Minister Suresh Prabhu's remarks that he wants to focus on bringing $100 billion FDI to India, Aghi said the first thing is to have a predictability in a regulatory environment.&nbsp;

This process sends the opposite message,&nbsp;he said.&nbsp;

Expressing concern over India tightening restrictions on foreign e-commerce companies operating in the country, leading American industry advocacy groups have said that such a move would have a long-term negative impact on the foreign direct investment as well as consumers.

Expressing concern over India tightening restrictions on foreign e-commerce companies operating in the country, leading American industry advocacy groups have said that such a move would have a long-term negative impact on the foreign direct investment as well as consumers. Earlier this week, the government announced changes to the foreign direct investment policy for the ecommerce sector, which would end discounts and cashback offers that online platforms with foreign investment were offering. Flipkart and US-based Amazon -- the two largest players in the burgeoning Indian e-commerce sector -- are expected to be hit the hardest once the new norms come into effect from February 2019. "The new e-commerce restrictions announced by the government of India on December 26 are a cause for concern. While we are still trying to understand the full implications, we fear that these restrictions will have a far-reaching negative impact both on US investments and on Indian consumers," said Nisha Desai Biswal, president of US India Chambers of Commerce (USAIC), a wing of the US Chambers of Commerce. The former Assistant Secretary of State for South and Central Asia said the US-India Business Council (USIBC) said that a February 1 deadline is too rushed and does not allow sufficient time for companies to analyse the policy and to comply. "We urge the government to delay implementation and allow time for comment before the policy goes into effect," Biswal said. Mukesh Aghi, president of US India Strategic and Partnership Forum (USISPF) said "this is not in the best interest of the Indian consumers." "Coming out with such a major policy change overnight without any consultative process eats into the predictability and reliability factor that all US companies are looking into India for any foreign direct investment," he said. "I wish there was a little more consultative process, because you have companies like Walmart, which has put in $16 billion and they are in the process of putting more money to streamline their investment, it makes our job more difficult because how do I go and tell them please invest more and the policy would not change overnight," said Aghi, who has been working with US companies to make large scale investment in India. "I have embarked on a campaign convincing US company manufacturing in China to move it to India. How do I tell them, hey policies overnight would not change," he said, adding that with such policy pronouncements, India can't have a "transparent, predictable environment" which is a must for any foreign company to invest. Referring to Union Commerce and Industries Minister Suresh Prabhu's remarks that he wants to focus on bringing $100 billion FDI to India, Aghi said the first thing is to have a predictability in a regulatory environment. This process sends the opposite message, he said.

Restrictions on foreign e-commerce companies to hit FDI in India: Report

Tightening norms for e-commerce firms having foreign investment, the government Wednesday barred online marketplaces like Flipkart and Amazon from selling products of companies where they hold stakes and banned exclusive marketing arrangements that could influence product price.

The revised policy on foreign direct investment in online retail, issued by the commerce and industry ministry, also said that these firms have to offer equal services or facilities to all its vendors without discrimination.

The revised norms are aimed at protecting the interest of domestic players, who have to face tough competition from e-retailers having deep pockets from foreign investors, the ministry said.

The policy would be effective from February 2019.

"The move would completely prevent influencing prices by e-commerce players. This will also ensure better enforcement of FDI guidelines in e-commerce companies," a senior official said.

The policy says a vendor will not be permitted to sell more than 25 per cent of its products on an online platform of a single e-marketplace firm.

"Inventory of a vendor will be deemed to be controlled by e-commerce marketplace entity if more than 25 per cent of purchases of such vendor is from the marketplace entity or its group companies," the commerce and industry ministry's press note said.

"An entity having equity participation by e-commerce marketplace entity or its group companies, or having control on its inventory by e-commerce marketplace entity or its group companies, will not be permitted to sell its products on the platform run by such marketplace entity".

E-commerce marketplace entity "will not mandate" any seller to sell any good "exclusively" on its platform "only", the note said.

Any service like logistics provided by e-commerce companies to vendors in which they have direct or indirect equity participation or common control stake should be fair and non-discriminatory.

These services include logistics, warehousing, advertisement, marketing, payments, financing etc.

It said that cash back provided by group companies of marketplace entity to buyers should be fair and non-discriminatory.

"For the purposes of this clause, provision of services to any vendor on such terms which are not made available to other vendors in similar circumstances will be deemed unfair and discriminatory," it added.

It further said that these companies will have to file a certificate along with a report of the statutory auditor to the RBI, confirming compliance of guidelines by September 30th of every year for the preceding fiscal.

The decision comes against the backdrop of several complaints being flagged by domestic traders on heavy discounts being given by e-commerce players to consumers.

According to the current policy, 100 per cent FDI is permitted in marketplace e-commerce activities. It is prohibited in inventory-based activities.

Welcoming the move, Snapdeal CEO Kunal Bahl tweeted that "Marketplaces are meant for genuine, independent sellers, many of whom are MSMEs. These changes will enable a level playing field for all sellers, helping them leverage the reach of e-commerce".

Amazon India spokesperson said: "We are evaluating the circular". 
A senior e-commerce industry executive of another company said that the move could adversely impact investments being made to bring new sellers on board.&nbsp;

Traders body CAIT said if the steps are implemented in proper spirit, mal-practices and predatory pricing policy and deep discounting of e-commerce players will be a matter of past.

The CAIT also demanded the introduction of an e-commerce policy and a regulator to monitor the sector.

Tightening norms for e-commerce firms having foreign investment, the government Wednesday barred online marketplaces like Flipkart and Amazon from selling products of companies where they hold stakes and banned exclusive marketing arrangements that could influence product price.

Tightening norms for e-commerce firms having foreign investment, the government Wednesday barred online marketplaces like Flipkart and Amazon from selling products of companies where they hold stakes and banned exclusive marketing arrangements that could influence product price. The revised policy on foreign direct investment in online retail, issued by the commerce and industry ministry, also said that these firms have to offer equal services or facilities to all its vendors without discrimination. The revised norms are aimed at protecting the interest of domestic players, who have to face tough competition from e-retailers having deep pockets from foreign investors, the ministry said. The policy would be effective from February 2019. "The move would completely prevent influencing prices by e-commerce players. This will also ensure better enforcement of FDI guidelines in e-commerce companies," a senior official said. The policy says a vendor will not be permitted to sell more than 25 per cent of its products on an online platform of a single e-marketplace firm. "Inventory of a vendor will be deemed to be controlled by e-commerce marketplace entity if more than 25 per cent of purchases of such vendor is from the marketplace entity or its group companies," the commerce and industry ministry's press note said. "An entity having equity participation by e-commerce marketplace entity or its group companies, or having control on its inventory by e-commerce marketplace entity or its group companies, will not be permitted to sell its products on the platform run by such marketplace entity". E-commerce marketplace entity "will not mandate" any seller to sell any good "exclusively" on its platform "only", the note said. Any service like logistics provided by e-commerce companies to vendors in which they have direct or indirect equity participation or common control stake should be fair and non-discriminatory. These services include logistics, warehousing, advertisement, marketing, payments, financing etc. It said that cash back provided by group companies of marketplace entity to buyers should be fair and non-discriminatory. "For the purposes of this clause, provision of services to any vendor on such terms which are not made available to other vendors in similar circumstances will be deemed unfair and discriminatory," it added. It further said that these companies will have to file a certificate along with a report of the statutory auditor to the RBI, confirming compliance of guidelines by September 30th of every year for the preceding fiscal. The decision comes against the backdrop of several complaints being flagged by domestic traders on heavy discounts being given by e-commerce players to consumers. According to the current policy, 100 per cent FDI is permitted in marketplace e-commerce activities. It is prohibited in inventory-based activities. Welcoming the move, Snapdeal CEO Kunal Bahl tweeted that "Marketplaces are meant for genuine, independent sellers, many of whom are MSMEs. These changes will enable a level playing field for all sellers, helping them leverage the reach of e-commerce". Amazon India spokesperson said: "We are evaluating the circular". A senior e-commerce industry executive of another company said that the move could adversely impact investments being made to bring new sellers on board. Traders body CAIT said if the steps are implemented in proper spirit, mal-practices and predatory pricing policy and deep discounting of e-commerce players will be a matter of past. The CAIT also demanded the introduction of an e-commerce policy and a regulator to monitor the sector.

Flipkart, Amazon sale may become history as govt tightens e-commerce norms

Walmart on Tuesday announced that Flipkart CEO Binny Bansal has resigned over allegations of serious personal misconduct.&nbsp;

According to a press statement released by Walmart, Bansal's decision came after an independent investigation was launched against him on behalf of Flipkart and Walmart probing an allegation of "serious personal misconduct.”&nbsp;

"His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct," Walmart's statement read.

According to reports, Bansal had denied the allegations.

Meanwhile, a source familiar with the incident told Reuters that the allegations&nbsp;levelled against Bansal were of sexual misconduct.&nbsp;

"In late July ... an allegation came to us. It was a claim of sexual assault against Binny," the source told Reuters, adding the individual concerned was a former Flipkart associate who was not with the company at the time of making the allegation.

"The investigation could not corroborate the allegation. It did, however, surface a lack of transparency on Binny’s part."

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Flipkart Group CEO Binny Bansal resigns after misconduct probe, reports Reuters <a href="https://t.co/XB5kUTp5H2">pic.twitter.com/XB5kUTp5H2</a>
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In August, US-based retail giant Walmart Inc completed a deal with Flipkart, capturing 77 per cent stake in the Indian e-commerce major.

"With the completion of the investment, Walmart now holds approximately 77 per cent of Flipkart. The remainder of the business is held by other shareholders, including Flipkart co-founder Binny Bansal, Tencent, Tiger Global and Microsoft Corp," a statement said.

Binny Bansal, Flipkart co-founder and group chief executive officer, said by combining Walmart's omnichannel retail expertise, supply-chain knowledge and financial strength with Flipkart's talent, technology and local insights, "we are confident that together we can drive the next wave of retail in India".

37-year-old Bansal hails from Chandigarh Punjab and is an IIT Delhi alumnus. Bansal co-founded e-commerce platform Flipkart along with Sachin Bansal in the year 2007.&nbsp;

Binny Bansal served as Flipkart's chief operating officer until 11 January 2016 and was later stepped up as the CEO.&nbsp;

 
&nbsp;

Walmart on Tuesday announced that Flipkart CEO Binny Bansal has resigned over allegations of serious personal misconduct. According to a press statement released by Walmart, Bansal's decision came after an independent investigation was launched against him on behalf of Flipkart and Walmart probing an allegation of "serious personal misconduct.

Walmart on Tuesday announced that Flipkart CEO Binny Bansal has resigned over allegations of serious personal misconduct. According to a press statement released by Walmart, Bansal's decision came after an independent investigation was launched against him on behalf of Flipkart and Walmart probing an allegation of "serious personal misconduct.” "His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct," Walmart's statement read. According to reports, Bansal had denied the allegations. Meanwhile, a source familiar with the incident told Reuters that the allegations levelled against Bansal were of sexual misconduct. "In late July ... an allegation came to us. It was a claim of sexual assault against Binny," the source told Reuters, adding the individual concerned was a former Flipkart associate who was not with the company at the time of making the allegation. "The investigation could not corroborate the allegation. It did, however, surface a lack of transparency on Binny’s part." Flipkart Group CEO Binny Bansal resigns after misconduct probe, reports Reuters pic.twitter.com/XB5kUTp5H2 — ANI (@ANI) November 13, 2018 × In August, US-based retail giant Walmart Inc completed a deal with Flipkart, capturing 77 per cent stake in the Indian e-commerce major. "With the completion of the investment, Walmart now holds approximately 77 per cent of Flipkart. The remainder of the business is held by other shareholders, including Flipkart co-founder Binny Bansal, Tencent, Tiger Global and Microsoft Corp," a statement said. Binny Bansal, Flipkart co-founder and group chief executive officer, said by combining Walmart's omnichannel retail expertise, supply-chain knowledge and financial strength with Flipkart's talent, technology and local insights, "we are confident that together we can drive the next wave of retail in India". 37-year-old Bansal hails from Chandigarh Punjab and is an IIT Delhi alumnus. Bansal co-founded e-commerce platform Flipkart along with Sachin Bansal in the year 2007. Binny Bansal served as Flipkart's chief operating officer until 11 January 2016 and was later stepped up as the CEO.

Flipkart CEO Binny Bansal has resigned after personal misconduct allegations: Walmart

Flipkart CEO <a href="http://www.wionews.com/business-economy/flipkart-ceo-binny-bansal-resigns-after-misconduct-probe-walmart-177091">Binny Bansal, who stepped down earlier today</a> over an allegation of "severe personal misconduct," said he will continue to remain a large shareholder and board member of the now Walmart-owned firm, news agency PTI reported.&nbsp;

"The allegations left me stunned and I strongly deny them. The investigation, however, did bring to light lapses in judgment, particularly a lack of transparency, related to how I responded to the situation," he said.

Bansal said these have been "challenging times" for him and his family, and in light of these circumstances, he felt it was best to step away as chairman and Group CEO.

"I will continue to be a large shareholder in the company and will continue to serve as a member of the board of directors," he noted.

According to a PTI report, Kalyan Krishnamurthy will continue to be CEO of Flipkart, which will now include Myntra and Jabong, continuing to operate as separate platforms within the Flipkart business, a statement released by Flipkart said.&nbsp;

Krishnamurthy, currently chief executive of the Flipkart division, will report directly to the board, Walmart said.<iframe width="560" height="315" src="https://www.youtube.com/embed/hksZPfJuCYU" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>

Flipkart said the succession plan has now been accelerated as Bansal had been "contemplating a transition for some time".

Sachin Bansal, the other co-founder (not related), had left Flipkart after selling his entire 5.5 per cent stake to Walmart as part of the deal.

Ananth Narayanan will continue as CEO of Myntra and Jabong and will report to Krishnamurthy. Sameer Nigam will continue to head PhonePe -- Flipkart's payments unit -- as CEO. Both Krishnamurthy and Nigam will report directly to the board, Walmart said.

"We remain committed to investing for the long-term and are supportive of the leadership team's desire to evolve into a publicly-traded company in the future," it added.

In an internal email, Krishnamurthy sought to assuage employee concerns stating that "there will be no changes in our operating processes, or to the mission of the company as a result of this news".

"Flipkart will continue to invest heavily in the supply chain, innovation, and technology, with a focus on optimising operations, and empowering employees... For Flipkart to keep succeeding, it is crucial for our teams to thrive, and we will continue to do everything possible to ensure you are given the opportunity to do just that," he added.

Walmart on Tuesday announced that Flipkart CEO Binny Bansal has resigned over allegations of serious personal misconduct.&nbsp;

"While the investigation did not find evidence to corroborate the complainant's assertions against Binny, it did reveal other lapses in judgement, particularly a lack of transparency, related to how Binny responded to the situation. Because of this, we have accepted his decision to resign," Walmart said in its statement.

Walmart said the events surrounding the allegations had "risked becoming a distraction", prompting Bansal's decision to step down. He had been appointed group CEO in January last year.

In a separate statement, Flipkart said: "This has been an unfortunate and challenging situation for Binny, his family and Flipkart."

Shortly after Walmart Inc. released a statement noting that Flipkart CEO Binny Bansal has stepped down over "serious personal misconduct" charges, a source told Reuters that the <a href="http://www.wionews.com/business-economy/allegation-against-binny-bansal-was-of-sexual-assault-source-177124">allegation against Bansal was of sexual assault</a>.&nbsp;

"In late July ... an allegation came to us. It was a claim of sexual assault against Binny," the source told Reuters, adding the individual concerned was a former Flipkart associate who was not with the company at the time of making the allegation.

"The investigation could not corroborate the allegation. It did, however, surface a lack of transparency on Binny’s part."

(With inputs from agencies)&nbsp;

 
&nbsp;

Flipkart CEO Binny Bansal, who stepped down earlier today over an allegation of "severe personal misconduct," said he will continue to remain a large shareholder and board member of the now Walmart-owned firm, news agency PTI reported.

Flipkart CEO Binny Bansal, who stepped down earlier today over an allegation of "severe personal misconduct," said he will continue to remain a large shareholder and board member of the now Walmart-owned firm, news agency PTI reported. "The allegations left me stunned and I strongly deny them. The investigation, however, did bring to light lapses in judgment, particularly a lack of transparency, related to how I responded to the situation," he said. Bansal said these have been "challenging times" for him and his family, and in light of these circumstances, he felt it was best to step away as chairman and Group CEO. "I will continue to be a large shareholder in the company and will continue to serve as a member of the board of directors," he noted. According to a PTI report, Kalyan Krishnamurthy will continue to be CEO of Flipkart, which will now include Myntra and Jabong, continuing to operate as separate platforms within the Flipkart business, a statement released by Flipkart said. Krishnamurthy, currently chief executive of the Flipkart division, will report directly to the board, Walmart said. Flipkart said the succession plan has now been accelerated as Bansal had been "contemplating a transition for some time". Sachin Bansal, the other co-founder (not related), had left Flipkart after selling his entire 5.5 per cent stake to Walmart as part of the deal. Ananth Narayanan will continue as CEO of Myntra and Jabong and will report to Krishnamurthy. Sameer Nigam will continue to head PhonePe -- Flipkart's payments unit -- as CEO. Both Krishnamurthy and Nigam will report directly to the board, Walmart said. "We remain committed to investing for the long-term and are supportive of the leadership team's desire to evolve into a publicly-traded company in the future," it added. In an internal email, Krishnamurthy sought to assuage employee concerns stating that "there will be no changes in our operating processes, or to the mission of the company as a result of this news". "Flipkart will continue to invest heavily in the supply chain, innovation, and technology, with a focus on optimising operations, and empowering employees... For Flipkart to keep succeeding, it is crucial for our teams to thrive, and we will continue to do everything possible to ensure you are given the opportunity to do just that," he added. Walmart on Tuesday announced that Flipkart CEO Binny Bansal has resigned over allegations of serious personal misconduct. "While the investigation did not find evidence to corroborate the complainant's assertions against Binny, it did reveal other lapses in judgement, particularly a lack of transparency, related to how Binny responded to the situation. Because of this, we have accepted his decision to resign," Walmart said in its statement. Walmart said the events surrounding the allegations had "risked becoming a distraction", prompting Bansal's decision to step down. He had been appointed group CEO in January last year. In a separate statement, Flipkart said: "This has been an unfortunate and challenging situation for Binny, his family and Flipkart." Shortly after Walmart Inc. released a statement noting that Flipkart CEO Binny Bansal has stepped down over "serious personal misconduct" charges, a source told Reuters that the allegation against Bansal was of sexual assault. "In late July ... an allegation came to us. It was a claim of sexual assault against Binny," the source told Reuters, adding the individual concerned was a former Flipkart associate who was not with the company at the time of making the allegation. "The investigation could not corroborate the allegation. It did, however, surface a lack of transparency on Binny’s part." (With inputs from agencies)

Binny Bansal 'stunned' by allegations, will continue as Flipkart board member

Shortly after Walmart Inc. released a statement noting that Flipkart CEO Binny Bansal has <a href="http://www.wionews.com/business-economy/flipkart-ceo-binny-bansal-resigns-after-misconduct-probe-walmart-177091">stepped down over "serious personal misconduct</a>" charges, a source told Reuters that the allegation&nbsp;against Bansal was of sexual assault.&nbsp;

"In late July ... an allegation came to us. It was a claim of sexual assault against Binny," the source told Reuters, adding the individual concerned was a former Flipkart associate who was not with the company at the time of making the allegation.

"The investigation could not corroborate the allegation. It did, however, surface a lack of transparency on Binny’s part."

Walmart on Tuesday announced that Flipkart CEO Binny Bansal has resigned over allegations of serious personal misconduct.&nbsp;

According to a press statement released by Walmart, Bansal's decision came after an independent investigation was launched against him on behalf of Flipkart and Walmart probing the allegation of personal misconduct.&nbsp;&nbsp;

"His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct," Walmart's statement read.

According to reports, Bansal had denied the allegations.

(With inputs from Reuters)&nbsp;

Shortly after Walmart Inc. released a statement noting that Flipkart CEO Binny Bansal has stepped down over "serious personal misconduct" charges, a source told Reuters that the allegation against Bansal was of sexual assault.

Shortly after Walmart Inc. released a statement noting that Flipkart CEO Binny Bansal has stepped down over "serious personal misconduct" charges, a source told Reuters that the allegation against Bansal was of sexual assault. "In late July ... an allegation came to us. It was a claim of sexual assault against Binny," the source told Reuters, adding the individual concerned was a former Flipkart associate who was not with the company at the time of making the allegation. "The investigation could not corroborate the allegation. It did, however, surface a lack of transparency on Binny’s part." Walmart on Tuesday announced that Flipkart CEO Binny Bansal has resigned over allegations of serious personal misconduct. According to a press statement released by Walmart, Bansal's decision came after an independent investigation was launched against him on behalf of Flipkart and Walmart probing the allegation of personal misconduct. "His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct," Walmart's statement read. According to reports, Bansal had denied the allegations. (With inputs from Reuters)

Allegation against Binny Bansal was of sexual assault: Source

<a href="http://www.wionews.com/south-asia/ousted-sri-lanka-pm-wickramasinghe-calls-for-alliance-to-save-the-country-177105">Sri Lanka Supreme Court overturns President Sirisena's decision to dissolve parliament</a>

The Sri Lankan Supreme Court on Tuesday overturned President Maithripala Sirisena's decision to dissolve the island nation's parliament.

<a href="http://www.wionews.com/business-economy/flipkart-ceo-binny-bansal-resigns-after-misconduct-probe-walmart-177091">Flipkart CEO Binny Bansal resigns after allegations of serious personal misconduct: Walmart</a>

Walmart on Tuesday announced that Flipkart CEO Binny Bansal has resigned over allegations of serious personal misconduct.&nbsp;

<a href="http://www.wionews.com/india-news/modi-doesnt-know-country-run-by-people-not-by-one-man-rahul-177092">Modi doesn't know country run by people, not by one man: Rahul Gandhi</a>

Congress president Rahul Gandhi on Tuesday launched a diatribe against Prime Minister Narendra Modi, accusing him of "misleading" people on India's development.

<a href="http://www.wionews.com/india-news/gulberg-massacre-supreme-court-to-hear-plea-challenging-clean-chit-given-to-pm-modi-177080">Gulberg massacre: On Monday, SC to hear </a><a href="http://www.wionews.com/india-news/gulberg-massacre-supreme-court-to-hear-plea-challenging-clean-chit-given-to-pm-modi-177080">plea</a><a href="http://www.wionews.com/india-news/gulberg-massacre-supreme-court-to-hear-plea-challenging-clean-chit-given-to-pm-modi-177080"> challenging clean chit given to PM Modi</a>

The Supreme Court will on Monday, November 19 hear Zakia Jafri's plea challenging the clean chit given to Prime Minister Narendra Modi, other top politicians, and bureaucrats in the Gulberg massacre case.&nbsp;

<a href="http://www.wionews.com/india-news/sabarimala-case-sc-defers-hear-review-petitions-on-january-22-refuses-to-stay-earlier-verdict-177077">Sabarimala case: SC to hear review petitions on January 22, refuses to stay earlier verdict</a>

The Supreme Court on Tuesday stated that it would hear the review petitions against its Sabarimala verdict on January 22, adding that it will be an open court hearing. The apex court refused to stay its earlier verdict in the case.

Sri Lanka Supreme Court overturns President Sirisena's decision to dissolve parliament The Sri Lankan Supreme Court on Tuesday overturned President Maithripala Sirisena's decision to dissolve the island nation's parliament.

Sri Lanka Supreme Court overturns President Sirisena's decision to dissolve parliament The Sri Lankan Supreme Court on Tuesday overturned President Maithripala Sirisena's decision to dissolve the island nation's parliament. Flipkart CEO Binny Bansal resigns after allegations of serious personal misconduct: Walmart Walmart on Tuesday announced that Flipkart CEO Binny Bansal has resigned over allegations of serious personal misconduct. Modi doesn't know country run by people, not by one man: Rahul Gandhi Congress president Rahul Gandhi on Tuesday launched a diatribe against Prime Minister Narendra Modi, accusing him of "misleading" people on India's development. Gulberg massacre: On Monday, SC to hear plea challenging clean chit given to PM Modi The Supreme Court will on Monday, November 19 hear Zakia Jafri's plea challenging the clean chit given to Prime Minister Narendra Modi, other top politicians, and bureaucrats in the Gulberg massacre case. Sabarimala case: SC to hear review petitions on January 22, refuses to stay earlier verdict The Supreme Court on Tuesday stated that it would hear the review petitions against its Sabarimala verdict on January 22, adding that it will be an open court hearing. The apex court refused to stay its earlier verdict in the case.

News brief: Big stories of the day

New Delhi, Oct 23 (PTI) E-commerce giants -Amazon and Flipkart- have been issued notices by the country's drug regulator DCGI for allegedly selling "spurious and adulterated" cosmetics including imported brands, and have been warned of penal actions in case of failing to respond within 10 days.

The notice from the Drug Controller General of India (DCGI) follows raids by drug inspectors at various locations across the country on October 5-6, during which they found that some indigenously manufactured cosmetics without valid manufacturing licence and having ingredients imported without necessary registration certificates were being sold on the e-commerce platforms.

The law provides for penal actions ranging from monetary fine to imprisonment for sale of such "unapproved" products.

When contacted, an Amazon India spokesperson told PTI the company takes strict action against sellers of "illegal or fake products" as and when such incidents are reported to it.

"Amazon.In is a third-party marketplace which enables sellers to list their products for sale to Indian customers. Sellers on Amazon. In own, their respective products and are responsible for product compliances, as may be applicable.

"Amazon.In has a very high bar of customer experience and does take strict action against sellers who are selling illegal or fake products...In accordance with the due process of law, as and when such incidents are reported to us," the spokesperson said.

Among cosmetics being sold by these websites included imported brands without valid documents and containing ingredients in the "negative list" of the BIS (Bureau of Indian Standards).

Asking the companies to reply to its notice within 10 days, the DGCI has warned them of penal action for "offering for sale, sale and distribution of spurious, adulterated cosmetics and cosmetics manufactured without valid licence in contravention of the Drugs and Cosmetics Act, 1940."

"In case, you fail to submit the reply within the stipulate period, it will be presumed that you have no reply to offer and appropriate action as deemed fit will be initiated against you," DCGI S Eswara Reddy said in the notice.&nbsp;

Under the Drug and Cosmetics Act, it is mandatory to get a registration certificate for import of cosmetics into India, while all cosmetics manufactured in the country need to have a valid licence.

Besides, cosmetics need to conform to the standards laid down by the BIS and cannot have any ingredient mentioned in its negative list.

A similar notice was also issued to the Indiamart, another e-commerce website, Reddy said. Reactions from Flipkart and Indiamart were not immediately available.&nbsp;

Illegal cosmetics estimated to be worth Rs four crore were seized during pan-India raids carried out after which the central drug regulator lodged five FIRs across three cities -- Mumbai, Pune and Delhi -- against manufacturers who were making these cosmetics without licence.

Asserting that the raids revealed the extent of illegal cosmetics in the market, Reddy also cautioned against purchase of such products.

New Delhi, Oct 23 (PTI) E-commerce giants -Amazon and Flipkart- have been issued notices by the country's drug regulator DCGI for allegedly selling "spurious and adulterated" cosmetics including imported brands, and have been warned of penal actions in case of failing to respond within 10 days.

New Delhi, Oct 23 (PTI) E-commerce giants -Amazon and Flipkart- have been issued notices by the country's drug regulator DCGI for allegedly selling "spurious and adulterated" cosmetics including imported brands, and have been warned of penal actions in case of failing to respond within 10 days. The notice from the Drug Controller General of India (DCGI) follows raids by drug inspectors at various locations across the country on October 5-6, during which they found that some indigenously manufactured cosmetics without valid manufacturing licence and having ingredients imported without necessary registration certificates were being sold on the e-commerce platforms. The law provides for penal actions ranging from monetary fine to imprisonment for sale of such "unapproved" products. When contacted, an Amazon India spokesperson told PTI the company takes strict action against sellers of "illegal or fake products" as and when such incidents are reported to it. "Amazon.In is a third-party marketplace which enables sellers to list their products for sale to Indian customers. Sellers on Amazon. In own, their respective products and are responsible for product compliances, as may be applicable. "Amazon.In has a very high bar of customer experience and does take strict action against sellers who are selling illegal or fake products...In accordance with the due process of law, as and when such incidents are reported to us," the spokesperson said. Among cosmetics being sold by these websites included imported brands without valid documents and containing ingredients in the "negative list" of the BIS (Bureau of Indian Standards). Asking the companies to reply to its notice within 10 days, the DGCI has warned them of penal action for "offering for sale, sale and distribution of spurious, adulterated cosmetics and cosmetics manufactured without valid licence in contravention of the Drugs and Cosmetics Act, 1940." "In case, you fail to submit the reply within the stipulate period, it will be presumed that you have no reply to offer and appropriate action as deemed fit will be initiated against you," DCGI S Eswara Reddy said in the notice. Under the Drug and Cosmetics Act, it is mandatory to get a registration certificate for import of cosmetics into India, while all cosmetics manufactured in the country need to have a valid licence. Besides, cosmetics need to conform to the standards laid down by the BIS and cannot have any ingredient mentioned in its negative list. A similar notice was also issued to the Indiamart, another e-commerce website, Reddy said. Reactions from Flipkart and Indiamart were not immediately available. Illegal cosmetics estimated to be worth Rs four crore were seized during pan-India raids carried out after which the central drug regulator lodged five FIRs across three cities -- Mumbai, Pune and Delhi -- against manufacturers who were making these cosmetics without licence. Asserting that the raids revealed the extent of illegal cosmetics in the market, Reddy also cautioned against purchase of such products.

Drug regulator issues notice to Amazon, Flipkart for alleged sale of spurious cosmetics 

SoftBank Group Corp said on Wednesday it is selling its roughly 20 percent stake in Indian e-commerce firm Flipkart to Walmart Inc.

Walmart said earlier this month it will pay <a href="http://www.wionews.com/business-%26-economy/walmart-buying-77-stake-in-flipkart-for-16-billion-135737">$16 billion</a> for a roughly 77 percent stake in Flipkart, the US&nbspretailer's largest-ever deal.

A SoftBank spokesman declined to give further details.

SoftBank CEO Masayoshi Son said earlier this month the $2.5 billion investment through its private equity fund in Flipkart made last year was worth $4 billion. 
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Walmart said earlier this month it will pay $16 billion for a roughly 77 percent stake in Flipkart. SoftBank owns an about 20% stake in Flipkart

SoftBank Group Corp said on Wednesday it is selling its roughly 20 percent stake in Indian e-commerce firm Flipkart to Walmart Inc. Walmart said earlier this month it will pay $16 billion for a roughly 77 percent stake in Flipkart, the US&nbspretailer's largest-ever deal. A SoftBank spokesman declined to give further details. SoftBank CEO Masayoshi Son said earlier this month the $2.5 billion investment through its private equity fund in Flipkart made last year was worth $4 billion.

SoftBank says selling entire Flipkart stake to Walmart

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