Reliance Retail’s digital commerce platform JioMart will morph into an e-marketplace offering multiple brands – from electronics, consumer durables, fashion and lifestyle, beauty, home, kitchen, and grocery – as it girds up to take on the likes of Amazon and Flipkart ahead of the festival season sales. India’s largest retailer was in the process of onboarding third-party sellers these past few months, further increasing its selection across categories multifold. Its website and application offers general merchandise as well.
Posts tagged Rediff
Black money case: Respite for Anil Ambani till Nov 17 (26-09-2022)
The Bombay high court on Monday directed the Income Tax department not to take any coercive action against Reliance Group chairman Anil Ambani till November 17 on a show cause notice issued to him seeking to prosecute him under the Black Money Act. The I-T department had issued the notice to Ambani on August 8, 2022 for allegedly evading Rs 420 crore in taxes on undisclosed funds worth more than Rs 814 crore held in two Swiss bank accounts. The department has charged Ambani (63) with “wilful” evasion, saying he “intentionally” did not disclose his foreign bank account details and financial interests to Indian tax authorities.
Coming soon: iPhone 14 — made in India, for the world (26-09-2022)
Apple’s newest phone iPhone 14 will be made in India as the global tech titan bets big on the manufacturing prowess of the world’s second-biggest smartphone market after China.
Tasks Cut Out For New Commerce Secretary (26-09-2022)
The government is targeting export of goods and services worth $2 trillion by 2030.
500,000 Homes, Worth Rs 4.48 Tn, Stuck In 7 Metros (26-09-2022)
The NCR and the MMR together account for 77 per cent of 10 big housing projects stuck because of developers’ bankruptcy or litigation.
No power crisis likely this festive season (25-09-2022)
India is unlikely to see a repeat of the 2021 energy crisis this festive season as coal-fired power stations across the country have comfortable levels of the fuel stock to meet electricity demand of the world’s fastest expanding major economy.
RBI likely to slow down on rate cuts till 2023: ADB (25-09-2022)
With economic activity still to reach pre-pandemic levels, the RBI may slow down the pace of rate hikes until next year to quell soaring inflation while supporting growth, the Asian Development Bank (ADB) says in its latest report. The Manila-based multilateral funding agency has raised the inflation forecast for the current fiscal year ending in March 2023 to 6.7 per cent from its earlier projection of 5.8 per cent. For the next fiscal year too, the forecast has been revised upwards to 5.8 per cent from 5 per cent earlier.
Finally, a shimmer of hope for the ‘golden fibre’ (25-09-2022)
In the early part of 1800, a 30-acre plot next to Fort Gloster on the banks of river Hooghly in Howrah district of Bengal was the nerve centre of industrial activity; it housed India’s first steam-powered cotton mill, Bowreah Mills, which was set up by a British merchant and went on to become a hub of factories – a rum distillery, foundry, cotton yarn factory, an oil mill and a paper mill, et al. Spearheaded by Dwarkanath Tagore, the industrialist grandfather of Rabindranath Tagore, the commercial complex was possibly the first of its kind in the country. Close to 200 years later, after much ebb and flow of history, the hub is set for a resurgence of sorts.
Defence exports grew by 334% in last 5 years: Govt (25-09-2022)
Defence exports have grown by 334 per cent in the last five years and India is now exporting to over 75 countries due to collaborative efforts, the government said on Sunday. The Press Information Bureau (PIB) said in a tweet: “The Indian Defence sector, the second largest armed force is at the cusp of revolution.” “Defence exports grew by 334 per cent in the last five years; India now exporting to over 75 countries due to collaborative efforts,” it said.
Natural gas price to rise to record level this week (25-09-2022)
Prices of natural gas, which is used to generate electricity, make fertiliser and is converted into CNG to run automobiles, is likely to rise to record levels at the rate review scheduled this week, sources said. The government-dictated price for natural gas produced in the country is to be revised on October 1. After factoring in the spike in energy prices witnessed in recent months, the rate paid for gas produced from old fields such as of state-owned Oil and Natural Gas Corporation (ONGC) is likely to rise to $9 per million British thermal units from current $6.1.