When Open Network for Digital Commerce (ONDC) was conceived last December, the idea was to reduce the dominance of e-commerce giants like Amazon and Flipkart. It was also to bring in a level-playing field for small merchants in India’s fragmented but fast-growing $1-trillion retail market. However, those goals have changed now as large e-commerce players such as Flipkart, Amazon and Ecom Express are in various levels of talks with the ONDC team. They want to form partnerships like integrating with the network as well as providing their expertise to build it, according to the industry sources.
Posts tagged Rediff
Fitch slashes India’s FY23 GDP growth forecast to 7% (15-09-2022)
Fitch Ratings on Thursday slashed India’s GDP growth projection for FY23 to 7 per cent, saying the economy is expected to slow against the backdrop of global economy, elevated inflation and high interest rate. In June, it had forecast 7.8 per cent growth for India. “We expect the economy to slow given the global economic backdrop, elevated inflation and tighter monetary policy. “We now expect the economy to grow 7 per cent in the financial year to end-March 2023 (FY23) from 7.8 per cent previously, with FY24 also slowing to 6.7 per cent from 7.4 per cent before,” Fitch said in its September edition of the Global Economic Outlook.
TCS pips HDFC Bank to be most-valuable brand (15-09-2022)
Tata Consultancy Services (TCS) is India’s most-valuable brand in 2022 replacing HDFC Bank, which held the number one spot since 2014, according to Kantar BrandZ report on India’s most-valuable brands. TCS was able to grab the top slot due to rising global demand for automation and digital transformation, following the pandemic. Indian brands have bounced back from the pandemic to increase their brand value by 35 per cent compound annual growth rate (CAGR) since 2020.
SOVA Android phone malware targets banking customers (15-09-2022)
A new mobile banking ‘Trojan’ virus — SOVA — which can stealthily encrypt an Android phone for ransom and is hard to uninstall is targeting Indian customers, the country’s federal cyber security agency said in its latest advisory.
XUV400: Nexon EV’s Fun-Fast Competitor (15-09-2022)
Rajesh Karkera/Rediff.com takes the XUV 400, the first electric SUV from the Mahindra stable, for a spin and comes away impressed.
How Reliance Retail plans to become ‘atmanirbhar’ (15-09-2022)
A few days ago, Reliance Retail surprised the market by acquiring the Campa brand from Delhi-based Pure Drinks Ltd for Rs 22 crore. A successful cola brand in the eighties, especially in North India, Campa Cola thrived when Coke exited India in the late seventies. When the Atlanta-based major returned and PepsiCo set base in India, it went down fighting.
What Was The Secret Of Rakesh Jhunjhunwala’s Success? (15-09-2022)
His advice was to always start with small positions because we are bound to make mistakes; and remain humble because the markets can be merciless, remembers Debashis Basu.
What Was The Secret Of Rakesh Jhunjhunwala’s Success? (15-09-2022)
His advice was to always start with small positions because we are bound to make mistakes; and remain humble because the markets can be merciless, remembers Debashis Basu.
India’s hiring outlook ranked 2nd: Report (14-09-2022)
India has the best hiring outlook globally, second only to Brazil, with 54 per cent of companies surveyed planning to hire in the December quarter as against 51 per cent in the September quarter, according to a report by global staffing firm ManpowerGroup. The report titled “ManpowerGroup Employment Outlook Survey” showed that India has the strongest net employment outlook for the December quarter in the Asia-Pacific region, followed by China (46 per cent), and Australia (38 per cent). The global net employment outlook in the December quarter would stand at 30 per cent, down by three percentage points from the June-September quarter, yet six percentage points higher than the same period last year, the staffing firm said.
SBI authorised to promote rupee trade with Russia (14-09-2022)
India has decided to authorise the country’s biggest lender SBI to promote rupee trade with Russia and soon Moscow will name its bank to operationalise the mechanism, exporters’ body FIEO said on Wednesday. The RBI in July issued a detailed circular asking banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Currently, a large part of bilateral trade between India and Russia is getting settled in rupee due to sanctions imposed by the US and Europe following Moscow’s attack on Ukraine.