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Amazon India to infuse over Rs 2,000 crore to boost pan-India operations
Economic Times
·
1m ago
Medial
Amazon India plans to invest over Rs 2,000 crore in 2025 to expand and enhance its operations network across India. This investment aims to improve the speed and reliability of services by launching new sites and upgrading existing facilities. The focus includes enhancing technology, safety, employee well-being, and environmental efficiency. With India's e-commerce market booming, Amazon seeks to strengthen its foothold, support local economies, and enhance customer convenience and delivery associate support.
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OnePlus to invest Rs 6,000 cr in India biz over next 3 years
YourStory
·
8m ago
Medial
Chinese smartphone manufacturer OnePlus has announced plans to invest up to Rs 6,000 crore (approximately $805 million) in its India business over the next three years. The investment will be made under 'Project Starlight', with an annual amount of Rs 2,000 crore allocated to boost product innovation, improve services, and develop India-specific features. The company aims to enhance the durability of its devices and provide exceptional customer service. OnePlus India CEO Robin Liu stated that India remains a top priority for the brand globally.
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What’s in NPCI’s wallet? A plan to unclog banking channels
Economic Times
·
6m ago
Medial
The National Payments Corporation of India (NPCI) plans to implement a lower, uniform interchange fee to boost mobile wallet use for Unified Payments Interface (UPI) transactions. This aims to alleviate pressure on banks from numerous small digital payments. The proposed fee of 0.6%-0.7%, down from 1.1% on transactions over Rs 2,000, intends to motivate wallet providers like MobiKwik and Amazon Pay to promote UPI payments, enhancing security and generating revenue.
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Amazon India logistics unit posts Rs 4,889 Cr income in FY24
Entrackr
·
9m ago
Medial
Amazon Transportation Services reported a marginal growth in its revenue during the fiscal year ending March 2024. At the same time, the company reduced its losses by over 6% during the same period. AmazonTransport Services aka ATS’s revenue from operations grew 7.6% to Rs 4,888.9 crore in FY24 from Rs 4,543.3 crore in FY23, its standalone financial statement sourced from Tofler shows. Apart from operational income, ATS’s other income spiked 66% to Rs 57.3 crore in FY24 from Rs 34.5 crore in the previous fiscal year. This brought the total income for FY24 to Rs 4,946.2 crore. Amazon Transportation Services provides logistics and delivery solutions, supporting Amazon's e-commerce operations. Its services include order pickup, sorting, and last-mile delivery across India. It makes money via offering aforementioned services to Amazon India. The company’s total expenses excluding depreciation stood at Rs 4,690.8 crore in FY24 from Rs 4,310.2 crore in FY23, marking an 8.8% rise. Depreciation expenses, however, decreased by 10.2%, standing at Rs 313.7 crore for FY24, down from Rs 349.4 crore in FY23. Despite the growth in revenue, ATS managed to reduce its losses by 6.3% to Rs 80.3 crore in FY24 from Rs 85.7 crore in FY23. Its outstanding losses reached Rs 469.8 crore as of the end of FY24. Other equity components, including the share-based compensation reserve, increased 26% to Rs Rs 490.4 crore in the last fiscal year. While ATS’s parent company, Amazon Corporate Holdings continues to support its operations, the persistent losses indicate ongoing challenges in reaching profitability despite YoY revenue growth. In the past five years, Amazon India (through transport services) has expanded its partnership with Indian Railways, increasing from a single train in 2019 to over 120 trains by 2024, now covering 130 intercity routes across 91 cities.
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Amazon India adds five fulfilment centres ahead of Prime Day - The Economic Times
Economic Times
·
1m ago
Medial
Amazon India has expanded its network with five new fulfilment centres in Indore, Bhubaneshwar, Kochi, and Rajpura to boost delivery speeds ahead of Prime Day 2025. This expansion increases storage capacity by 1.8 million cubic feet and creates job opportunities. Amazon invested Rs 2000 crore to upgrade operations and enhance infrastructure. Prime Day 2025 is scheduled for July 12-14, offering early access to product launches across various categories for Prime members.
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Delhi-based IVF chain Gaudium mulling fresh fundraise in bid to expand
VCCircle
·
1y ago
Medial
New Delhi-based fertility treatment clinic Gaudium IVF is looking to raise approximately Rs 100 crore ($12.1 million) to expand its operations across India. The fundraise will be used to open new centers in major cities, allowing Gaudium to establish a pan-India presence. Founded by Manika Khanna, Gaudium IVF aims to provide quality fertility treatment options to couples in need.
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BlackSoil-Caspian Debt merger secures RBI nod, awaits NCLT approval
Economic Times
·
4m ago
Medial
BlackSoil Capital and Caspian Debt have gained RBI approval for their merger, now pending NCLT clearance. This merger will boost BlackSoil’s lending capabilities to startups, MSMEs, and impact-driven businesses while expanding its reach across major Indian cities. The combined entity will manage assets surpassing Rs 2,000 crore and disbursements over Rs 10,000 crore. BlackSoil and Caspian Debt expect to enhance financial inclusion through their integrated expertise and resources in alternative credit and impact investing.
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Second fund of funds’ first instalment, Startup India Desk in works: Piyush Goyal
Economic Times
·
4m ago
Medial
Commerce and industry minister Piyush Goyal announced that the second fund of funds for startups with a Rs 10,000 crore corpus has been approved, with Rs 2,000 crore to be disbursed this year. A key initiative includes creating a Startup India Desk for support. The fund aims to develop domestic tech solutions and support startups in AI, semiconductors, and deep-tech. The initiative seeks to provide early-stage financial backing for entrepreneurs and boost innovation leadership.
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Government announces Rs 1,435 Cr PAN 2.0 Project
YourStory
·
8m ago
Medial
The Indian government has announced the PAN 2.0 Project, with a budget of Rs 1,435 crore, to transform the permanent account number (PAN) into a common business identifier for all government digital systems. This project aims to improve taxpayer registration services by providing easier access and faster service delivery. Additionally, it will ensure data consistency, cost optimization, and enhanced security. The PAN 2.0 Project aligns with the Digital India vision, allowing PAN to be used as a common identifier across specified government agencies' digital systems. Currently, there are 78 crore PANs issued, with 98% being allotted to individuals.
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Amazon India wholesale arm posts revenue of Rs 3,577 crore in FY24, trims loss by 44%
Economic Times
·
9m ago
Medial
Amazon Wholesale reported revenue of Rs 3,577 crore for the fiscal year ending March 2024, a slight decline from the previous year. The wholesale unit of the ecommerce giant also narrowed its net loss by 44% to Rs 342 crore. Total income for the year was Rs 3,614 crore, while expenses decreased to Rs 3,959 crore. The wholesale arm is an important part of Amazon's operations in India, although it has scaled down its operations due to tightened regulations. The company's focus in India is now on investments in services and technology.
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LTIMindtree awarded Rs 792 crore PAN 2.0 project
Economic Times
·
3d ago
Medial
The Central Board of Direct Taxes has awarded the PAN 2.0 project to LTIMindtree Ltd for ₹792 crore. LTIMindtree will manage the design, development, implementation, operations, and maintenance of the enhanced PAN system, expected to go live in 18 months, aiming to make PAN a common business identifier for all government digital systems. Existing PAN holders aren't mandated to upgrade but can correct their details in the new system.
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