In an interview with Bloomberg Television, Christopher Wood, the Global Head of Equity Strategy at Jefferies, an investment bank, said that India’s domestic consumption, investment in infra, and the resilience it displayed during the pandemic instills confidence in its future. Despite the challenges such as inflation and rising oil prices,...
Walmart's Acquired Digital Payment Business in India Flourishes
In 2018, Walmart Inc. paid $16 billion for control of India’s e-commerce company, Flipkart Online Services, and as part of the deal it got a little-noticed digital payment subsidiary called PhonePe (pronounced "phone pay" and meaning "on the phone" in Hindi). Currently, the business is one of India’s leading digital...
Warren Buffet Makes First Investment in India
Omaha, Nebraska headquartered Berkshire Hathaway has taken a stake in Paytm, India’s largest digital payments company. Berkshire will buy 3 percent to 4 percent of Paytm’s parent company One97 Communications, in a deal that values the target at more than $10 billion. One97, founded by billionaire Vijay Shekhar Sharma, runs...
Mobile Game Industry Flourishes in India
With increased overseas investment and partnership, India's digital gaming industry is growing rapidly. One of the top five countries for mobile gaming in the world, this sector is already worth over $890 million and is rapidly approaching the $1 billion mark. Currently, the country has more than 250 game development companies,...
India's Central Bank Approves Amazon e-Wallet
Amazon India received the Reserve Bank of India’s approval to launch its own digital wallet in India. This will give the American online retail giant a slice of India’s fast-growing digital payments business pie. Amazon will now be able to take on Paytm (an acronym for "pay through mobile") and...
PayTM Launches e-Commerce Mall in India
PayTM, a consumer shopping Android app has launched an e-commerce mall modeled on TMall, China’s dominant e-commerce platform. With Alibaba's and SAIF Partners' infusion of $200 million into Paytm, an Indian payment and commerce company based out of Delhi NCR, the company is now valued at $1 billion. Paytm e-commerce...