According to Goldman Sachs, it got estimated that India’s e-commerce business got projected to grow at a compound annual growth rate (CAGR) of 27 percent to $ 99 billion by 2024. Not only this, but Reliance Industries (RIL) will also capture half the online grocery sales segment of India. By 2024, India will see considerable growth in online business through many components of e-commerce business like retail, fashion, apparel. In this report, the possibility of reaching 10.7 percent through the rapid growth of online access to retail has been expressed by Goldman Sachs. Recently, Facebook has bought a 9.99 percent…
Author: Harsh Verma
Even in the Coronavirus epidemic, the billionaires are facing huge losses. However, Amazon CEO and the world’s richest man Jeff Bezos’s wealth, is increasing rapidly. Jeff Bezos’ wealth increased by $ 13 billion, or Rs 97,200 crore recently. In addition to Jeff Bezos, the assets of leaders of other tech companies have also grown rapidly. So far this year, Facebook CEO Mark Zuckerberg’s wealth has also increased by $ 15 billion. This increase in Zuckerberg’s wealth has been recorded even after many big companies have boycotted Facebook Ads. Amazon’s shares rose 7.9%, which created such a big jump in assets…
Amazon, the largest e-commerce company, had sent an email to its employees, asking them to delete the Chinese app Tick-Talk. But after a few hours of this, Amazon has said that the email was just a mistake, and employees are free to use the application. Unusually, Amazon’s official statement said that an email was sent to some of our employees by mistake. This was the mail sent to the employees – Hello, The TikTok app is no longer permitted on mobile devices that access Amazon email due to security risks. If you have TikTok on your device, you must remove…
Global petroleum company British Petroleum PLC and Mukesh Ambani’s Reliance Industries will sell the fuels under the brand ‘Jio-BP.’ Both companies announced this on the news. BP bought a 49 percent stake in Reliance Industries’ 1,400 petrol pumps and aviation fuel (ATF) stations last year for $ 1 billion. Reliance Industries holds the remaining 51 percent stake in the joint venture. The companies aim to become leaders in the country’s fuel and transportation market under the JIO-BP brand. All other regulatory and legislative approvals, including transportation of Reliance BP Mobility fuels, have been received. The existing petrol pumps and ATF…
The market capitalization of Mukesh Ambani-led Reliance Industries Limited today crossed the Rs 11.5 lakh crore mark. This is the first ever Indian company to achieve this target. Today, the company’s share price rose 2.55 per cent to 1833.10 points on the BSE. The company’s stock rose 2.55 per cent to an all-time high of 1833.50 on the NSE. This increased the market capitalization of the company by Rs 26150.05 crore to Rs 1159318.60 crore in morning trade. This is the best performance of the company’s shares in the last 52 weeks. Mukesh Ambani led Reliance Industries Limited (RIL) share…
A Chinese news website quoted a statement of senior manager of ByteDance, which estimated a loss of $ 6 billion for TikTok as India now bans some Chinese apps. This estimated loss is more than the losses faced by other Chinese apps like UC browser, Shareit etc. The Indian government recently closed the TikTokapp, due to the threat to the country’s sovereignty and integrity and data security. Due to data security TikTok has faced warnings from local governments in many other countries besides India. Google has banned a few Chinese apps from its Play Store, and Apple has too removed…
The Indian government takes a significant decision amid the tensions over the border with China. 59 Chinese applications which were available on Google play store got banned in India. These 59 apps, which are banned by the central government, include different categories of apps like for video calling, short video apps, beauty apps, e-commerce apps, news-related apps, apps like security and cleaners. These applications include TikTok, UC Browser, Share It, Club factory, UC news, Xender etc. The government has banned these Chinese apps under the IT Act 2000. Indian security agencies prepared a list of suspicious Chinese apps, to the…
Amazon, the world’s largest e-commerce platform, is all set to organize the third edition of Small Business Day 2020 on June 27. Several manufacturers, startups, artisans, and local workers affected by the Covid-19 pandemic will participate in the event. The event will encourage consumers to find and buy unique products offered by small businesses and micro-entrepreneurs. By this event, the customers will have the opportunity to support small businesses, women entrepreneurs, local employment, and conclusively the economy. Amazon India stated that customers would be able to discover some more reliable products from these theme stores while empowering millions across the…
The current phase of adding financial partners in Reliance Jio is over, with Saudi Arabia’s PIF buying Jio Platforms’ 2.32 percent stake for Rs 11,367 crore on June 18. Along with this, Reliance Industries also issued the country’s most massive rights issue. The company has raised Rs 1,15,693.95 crore from global technology investors such as Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, El Catterton and PIF till 22 April 2020. The market capitalization of Reliance Industries Limited (RIL) crossed the $ 150 billion mark now. In terms of rupees, the market cap of the company…
The coronavirus epidemic has given rise to another major crisis in India; people infected with the disease are fighting in the hospital, whereas those who have survived are battling “unemployment.” Atlas Cycles, one of the largest bicycle makers in the country, has indefinitely closed its largest factory at Sahibabad in Ghaziabad, adjacent to Delhi. The sad part is that this news got announced on World Cycle Day. This decision of the company has made about 1000 workers unemployed in one stroke. In the lay-off notice, the manager of the company said that the operators do not have the money to…