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flipkart-plans-to-acquire-ebay-india

Flipkart is in the process of raising US$2 billion in an effort to stave off an increasingly aggressive Amazon and a potential threat from Alibaba, in future. The present drive to raise the first US$1 billion is being led by software giant Microsoft and Chinese technology major, Tencent. Another US$1 billion is expected to be raised from the market. US-headquartered eBay, is reported to be showing interest in participating in the fund raising and with [...]

India's Job Crisis Getting Worse

A reforms-oriented government, a plethora of social security ‘yojanas’, predicted economic growth of between 7.5 and 8 percent (at a time when global growth is hovering around the 3 percent mark), numerous black money and tax evasion measures, and above all, no new reports of corruption, or scams. Everything seems to be well with India, doesn’t it? Look again. One of the key indicators of prosperity and socio-economic well-being in a country is its unemployment [...]

Smart Villages of India

India’s dismal record in extending electrification to all villages in India stood as a major challenge when Narendra Modi took office as India’s Prime Minister in 2014. The legacy of the power ministry was in shambles. Power project implementation had come down to a crawl as the coal scam took centre stage, towards the end of the UPA-II regime. Power transmission and distribution required urgent modernisation, along with expansion into rural India, and modernisation and [...]

Finance Bill 2017

The Finance Bill, 2017, was passed in the Lok Sabha yesterday. The bill is not a new piece of legislation but a bunch of 40 amendments to existing laws. A number of issues such as current taxation laws, returns filing and IT raids, Aadhaar card linkage, cash transaction limits, mergers of public tribunals, etc. have been addressed by the bill. Major Amendments Here are some of the major amendments coming through with passage of the [...]

Top Ten Richest People in India

Shanghai headquartered, Harun Report Inc., has just released the Harun Global Rich List 2017, which confirms Mukesh Ambani, Chairman, Reliance Industries, as the wealthiest person in India, with a net worth of Rs 1,75,400 crore (US$20 billion). He ranks 29th out of 2,257 billionaires in the world. Established in 1999 in Shanghai and having offices in several countries, including India, Harun Report has been reporting annually on the top 100 richest persons in the world [...]

Government Earn Through Toll on National Highways

  Highway construction and maintenance is an important component of the government’s overall plan to boost infrastructure spending and development. National Highways Authority of India (NHAI) has been the nodal agency tasked with developing national highways and appointing concessionaires for building highways under the Build, Operate and Transfer (BOT) basis. National highways cover just 2% of the total road network in the country, but account for 40% of total traffic, and therefore, its contribution to [...]

Mumbai Ranked Ahead of Washington

Knight Frank, a leading global property consulting company has just released ‘The Wealth Report 2017’, of which the ‘City Wealth Index’ ranks Mumbai at 21st, based on the number of Ultra High Net Worth Individuals (UHNWI) residing in major cities covered by the report. The report covers 125 cities in 89 countries and is based on responses to a detailed survey carried out with 900 of the world’s leading private bankers and wealth managers. A [...]

Snapdeal Cuts 600 Jobs

No matter the business model of the venture, or its size, or the fact that it is a small or large enterprise – the only yardstick by which the success of any enterprise can be measured is its profit. And that is where Snapdeal has slipped, its founders concede. Snapdeal is one of India’s earliest and biggest e-commerce players. The co-founders of Snapdeal, Kunal Bahl and Rohit Bansal, admitted to have made mistakes and revealed [...]

Haldiram's Success Story

According to recent reports from the Economic Times, desi food giant Haldiram’s recorded a revenue of Rs 4,000 crore, a 13 percent revenue growth, in the financial year 2016. This figure beats the revenues of the domestic figures of American fast food titans – Mcdonald’s (at Rs 1,390 crore) and Domino’s (at Rs 1,733 crore) for the year. The report also compares the revenue of Haldiram’s with Nestle’s flagship product, Maggi instant noodles which was [...]

Flipkart, Microsoft Announce Cloud Partnership in India

Home-grown e-commerce major Flipkart has just announced that it has entered into a strategic relationship with technology giant Microsoft, for adopting Microsoft Azure as its cloud computing platform. The development is good news for both Flipkart, which has continued to grow rapidly in the e-commerce space in India, and for Microsoft. The latter will be able to further demonstrate benefits of cloud computing to the industry, on how companies can leverage the cloud to cut [...]