COLUMN: Why we should welcome a recession

Subramanian Swamy is often accused of propagating outlandish ideas and suggestions, but at least on the issue of addressing a slowdown in India’s GDP growth, he seems to be closer to the truth than India’s ruling establishment. Both Sitharaman and Swamy are united in recognizing the need for a ‘stimulus’ to nudge the economy from […]

Flipkart starts rolling out free Amazon Prime-like video service

Flipkart, Amazon’s biggest competitor in India, has started rolling out a video streaming service on its mobile app similar to Amazon Prime Video and Netflix. The service is very similar to other streaming apps, and offers videos classified into different sections based on genres and languages. Both movie and non-movie content are available. Non-movie content, […]

Amazon buys into Quess Corp’s repairing unit

Quess Corp, a provider of logistical, staffing and infrastructural solutions to businesses in India, said it has entered into an agreement with international e-commerce giant Amazon.com relating to investment in and operations of an electronics aftersales company. Though the finer details of the agreement were not revealed, the agreement could be aimed at diversifying the […]

Aditya Birla Fashion buys ethnic retailer for Rs 110 crore including debt

Fashion and lifestyle company Aditya Birla Fashion and Retail Ltd said that it will acquire Jaypore E-Commerce Private Ltd, which sells “handmade, handwoven and handcrafted apparel, jewellery, home textiles and accents”, for Rs 110 crore including debt. Aditya Birla Group did not break out the equity component of the company’s valuation, nor did it give […]

Godrej sells Nature’s Basket to Spencer’s Retail

Godrej Group has sold its grocery chain Nature’s Basket to Kolkata-based Spencer’s Retail, part of the RP Sanjiv Goenka Group. Spencer’s Retail is especially strong in Chennai and Bangalore, and has also recently acquired another South Indian player Foodworld. The financial consideration for the sale was not revealed by Godrej. Godrej, for which Nature’s Basket […]

Jubilant FoodWorks continues to close Dunkin Donuts’ stores

Jubilant FoodWorks Ltd (JFL) continued to trim its Dunkin Donuts’ chain in Jan-Mar quarter, even as it continued to expand its flagship Dominos pizza chain. The food service company, which opened its first Dunkin Donuts store in New Delhi in 2012, has been cutting down its Dunkin Donuts outlets for the last several years in […]

Rajesh Exports opens Shubh Jewellers outlet in Mangalore

Jewellery manufacturer Rajesh Exports opened its 82nd gold showroom under the Shubh Jewellers brand name in Mangalore. Launched in 2012 by Rajesh Exports, Shubh Jewellers enjoys a strong presence in South India, especially Karnataka. The company claims to have one of the world’s largest active jewellery design databases of around 29,000 designs. “We are planning […]

Mukesh Ambani: Reliance Jio To “Shortly Launch” E-Commerce Venture With 3 Cr Sellers

Even as Amazon and Flipkart find their business models crippled by new changes in the law, India’s richest man Mukesh Ambani announced that his upcoming e-commerce venture will partner with 3 cr sellers, making it the biggest such platform in the country by number of sellers. “Jio and Reliance Retail will shortly launch a unique […]

Rajesh Exports gets Rs 933 cr order from UAE jewelry firm

Jewelry manufacturer Rajesh Exports said it has won an order for jewelry worth Rs 933 Crores from a UAE-based firm. The order is for its new design jewelry, and will be supplied from its manufacturing facility. It order has to be fulfilled by March. The company had recently introduced new designs in the international markets which […]

Reliance Industries to enlist local stores to fight Flipkart, Amazon

Mukesh Ambani, chairman of Reliance Industries group, today said that his company is working on creating a pan-India e-commerce platform that will help small, offline shops compete with players like Amazon and Flipkart. The platform will work by making the inventory of small shops available for purchase online using a sophisticated web and app interface […]

Future Supply Chain posts strong sales growth for Q2

Future Supply Chain Solutions Limited, the logistics arm of the biggest large-format retail chain in the country, continued to report strong growth on the top line and improving profits, but expenses too largely kept pace. The company’s revenue from operations grew by 34.4% on year to Rs 276.2 cr for the September quarter, an increase […]

Zydus confirms Heinz India buy for Rs 4,595 cr; gets Complan, Glucon D

Zydus Wellness, the consumer healthcare arm of Zydus Cadila, said it has agreed to acquire Heinz India Private Ltd, the Indian unit of global FMCG major Kraft Heinz. The transaction, which will be carried out in association with Cadila Healthcare Ltd, values Heinz India at Rs 4595 cr, the company said. Heinz India’s business comprises the brands Complan, Glucon D, […]

Puravankara firm buys Metro Cash & Carry’s 7.6 acre in Bangalore for Rs 405 cr

Puravankara Ltd, one of India’s largest real estate developers, said one of its associate companies will buy a 7.6 acre plot in Bangalore’s Yeshwantpur from international retailer Metro to develop a commercial complex. The deal will be carried out through Keppel Puravankara Development Private Limited, a joint venture between Puravankara and Singapore’s Keppel Land in which the […]