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News on Medial
Ecommerce giant Amazon announces new initiatives to boost India's digital economy
IndianStartupNews
·
1y ago
Medial
The company has signed an MoU with India Post for an integrated cross-border logistics solution to expand the ecommerce export opportunity to lakhs of micro, small and medium enterprises (MSMEs) across the country.
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Related News
Amazon India Mulling Launch Of Separate Platform For Amazon Pay
Inc42
·
11m ago
Medial
Amazon Pay, the digital payments service offered by e-commerce giant Amazon, may soon launch a standalone app in India. The company is reportedly considering this move to boost its presence in the Indian digital payments market.
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Amazon Prepping Up For Budget-Friendly, Unbranded Fashion Route To Take On Meesho
Inc42
·
1y ago
Medial
Ecommerce giant Amazon is reportedly set to launch its new vertical, Bazaar, in India, focusing on budget-friendly, unbranded fashion and lifestyle products. The company is aiming to target Indian value customers by onboarding sellers to list products, including apparel, watches, shoes, jewelry, and luggage, priced below INR 600. The move comes as demand for mass-market products slows down and Amazon looks to boost its growth. The new store, Bazaar, will allow sellers to offer their fashion and lifestyle products online at no extra charges.
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Created over 100,000 job opportunities in India ahead of festive season: Amazon
Economic Times
·
1y ago
Medial
Amazon has announced that it has created over 100,000 job opportunities in India ahead of the festive season. The e-commerce giant is preparing for the surge in demand during the upcoming festive period and has been rapidly expanding its operations in the country. The move by Amazon is expected to provide a boost to the economy and create employment opportunities for many Indians.
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Budget 2024: FM Sitharaman announces development of population-scale digital public infra in agri, credit, ecommerce
Economic Times
·
1y ago
Medial
Finance Minister Nirmala Sitharaman has announced the government's plan to develop digital public infrastructure (DPI) tools in various sectors such as credit, ecommerce, health, law and justice, logistics, MSME service delivery, and urban governance. Additionally, DPI will be developed in agriculture in collaboration with state governments across 400 districts. These initiatives aim to enhance digital services and support for sectors like agriculture and MSMEs.
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Union Budget 2025 announces provisions to boost clean tech manufacturing
YourStory
·
6m ago
Medial
The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, highlighted India's commitment to its climate goals by announcing measures to boost domestic clean technology manufacturing. These steps aim to enhance domestic value addition and build India's ecosystem for clean tech components like solar PV cells and EV batteries. The budget also proposed customs duty exemptions on several critical minerals to support this effort. These initiatives align with India's targets for non-fossil fuel energy capacity and emissions reduction.
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India spurs space sector investment with raised limits on foreign funding | TechCrunch
TechCrunch
·
1y ago
Medial
The Indian government has updated its foreign direct investment (FDI) policy in the space sector, allowing for increased overseas investment. The move aims to attract global investors and companies to participate in India's space industry. The new policy includes specific categories and thresholds for foreign ownership, with potential for up to 100% investment in certain areas. This development follows recent reforms and initiatives by India to open up its space sector to private players and increase international collaboration. The country's space economy is projected to reach $44 billion by 2033, and the updated FDI norms are expected to boost India's presence in the global space economy.
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Head of consumer electronics quits amid a top churn at Amazon India
Economic Times
·
8m ago
Medial
Ranjit Babu, the head of consumer electronics at Amazon India, has resigned amid ongoing senior-level changes in the company. Babu, who was also the former CEO of Cloudtail, a major seller on the platform, played a crucial role in Amazon India's success. His departure follows the recent restructuring of the company after the exit of former India head Manish Tiwary. The ecommerce giant is experiencing a significant senior-level churn, with executives such as Gaurav Arora and Suresh John also leaving the company. Amazon India is now focusing on catching up in the ecommerce business and entering the quick commerce sector.
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Amazon plans discount store in US to fight China's Temu and Shein: report
Economic Times
·
1y ago
Medial
Ecommerce giant Amazon is reportedly planning to launch a dedicated section for affordable fashion and lifestyle products on its US website. The move is seen as a response to competition from Chinese ecommerce companies, such as Temu and Shein, which have gained popularity in the US market due to their low prices. Amazon aims to directly ship these low-cost items from China to US consumers within 9 to 11 days. The new section will feature unbranded items priced below $20 and will allow Chinese sellers to trial new products in the US market.
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Indian startups disrupting ecommerce dominance of foreign players with instant delivery model: Zupee CEO
Economic Times
·
8m ago
Medial
Indian startups are disrupting the ecommerce market previously dominated by foreign players through innovative instant delivery models, according to Dilsher Singh Malhi, CEO of Zupee. He highlighted the transformative role of Indian enterprises in the digital economy, attributing their progress to government support and policy frameworks that foster innovation. Malhi praised India's emergence as the third-largest startup ecosystem and expressed optimism about initiatives like Bharat 6G Vision and the AI Mission. He emphasized the role of startups in redefining various sectors such as education, healthcare, travel, and entertainment, and highlighted the transformative impact of AI and blockchain technologies.
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MobiKwik becomes first fintech to fully roll out CBDC e-rupees
Economic Times
·
6m ago
Medial
MobiKwik has launched India's first full-scale Central Bank Digital Currency (CBDC) wallet, e-rupee, in partnership with RBI and Yes Bank. Available to Android users, the wallet supports seamless P2P and P2M transactions by scanning UPI QR codes. Users with completed KYC can easily open an e-rupee wallet, while new users must complete video KYC. The wallet allows transactions up to Rs 50,000 daily, promoting digital rupee adoption to boost the digital economy in India.
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