New rules for e-commerce in India framed by the Department of Industrial Policy and Promotion bar any one merchant on sites such as Amazon, Flipkart or Snapdeal from accounting for 25 percent or more of total sales. The rules also stipulate that "e-commerce entities providing marketplace will not directly or...
Amazon: India Will Be its Biggest International Market in a Decade
According to Forbes, Amazon perceives the India e-commerce market as a whole to be an opportunity which will be measured in trillions of dollars, and that India will be its biggest market after the U.S. within a decade. (According to a Goldman Sachs report, the Indian e-commerce market will be...
India’s Increasing Appeal to American Tech Companies
Google, Facebook, Twitter, YouTube, WhatsApp, Amazon…are all familiar names to millions in India who use the Internet mostly on their smartphones. This number is expected to reach 168 million this year with 277 million Internet users in all, predicts research firm eMarketer. The New York Times reports that India already...
Where Will Amazon’s Biggest Market outside U.S. Be?
Retail giant Amazon is planning to invest $5 billion to turn India into its biggest market outside the U.S., the Economic Times reports. Amazon has completed two years in India, where its business is now worth at least $2 billion in gross merchandise value on the e-commerce side, and includes...
Startup BankBazaar Scores a $60 million Series C Led by Amazon
Virtual financial marketplace, BankBazaar, raised a $60 million Series C led by Amazon, with participation from Fidelity Growth Partners, Mousse Partners, and returning investors Sequoia Capital and Walden International reports Tech Crunch. With this investment, Amazon enters the online personal finance market. Located in Chennai in the southern state of...
Google, Amazon Expect to Spike Sales in India
Internet Multinational Companies are growing fast in India. Last month, Google announced the setting up of its largest campus outside the U.S., in Hyderabad, India. The 2 million square feet facility — the first company owned premises in Asia — is expected to house 13,000 employees when it’s ready in...