We bring you the weekly dose of important Indian startup news of the week.
This is one of the important news for the Indian startup ecosystem this week. The Government of India is considering to impose a ‘security fee’ as digital cess for every digital payment. Reportedly, the Department of Financial Services (Indian government) has recently proposed a token amount on every cashless transaction in order to curb the online fraud in digital payments.
Also, Reliance Retail will likely pose the biggest competitor for top ecommerce players next year as per industry veteran TV Mohan Das Pai. Former CFO of Infosys T V Mohandas Pai added that due to its wider reach and wide-scale penetration of its telecom arm Jio, Reliance Retail will be a big challenge to today’s biggies.
Important Indian Startup News Stories Of The Week
Metro Cash And Carry To Foray Into Ecommerce
Bengaluru-headquartered wholesale retail service provider Metro Cash And Carry will soon foray into ecommerce with the B2B model. Metro Cash and Carry commenced operations in India in 2003. Only business customers are allowed to purchase at METRO, all of them duly registered and provided with a customer registration card.
Amazon India Leases 450K Sq. Ft. Office Space, Amazon Pay Can Now Be Used On BookMyShow
Amazon India has leased 450K sq. ft. of office space in Chennai. Reportedly, Amazon will occupy the office space in two phases. In the first phase 200K sq. ft. will be occupied in next one and a half year. the new campus will come up at Ramanujan IT City, which is being executed by TRIL Infopark, a special purpose vehicle (SPV).
In another development, Amazon India customers can now use their Amazon Pay balance account for booking tickets for movies, plays, events, concerts across BookMyShow platforms (website, mobile web, Android and iOS apps). This partnership is in addition to the existing range of merchant sites that help Amazon provide their customers’ uninterrupted online experiences.
Apple To Launch Apple Pay In India
The tech giant is reportedly preparing to partner with local players that already have an established presence in the country. In a recent interview at the Apple Development Centre in Hyderabad, Apple Senior VP Eddy Cue revealed plans to launch Apple Pay to cater to its growing customer base in India.
Flipkart To Relaunch Its Loyalty Programme ‘Flipkart First’
The online retailer has held talks with online travel and event-booking portals MakeMyTrip and BookMyShow and cab aggregator, Ola, to provide its consumers more value-added services through Flipkart First, a premium subscription-based services to provide free fast delivery, discounted same day delivery and priority customer services.
Andhra Pradesh Govt. Unveils DTP Policy 2017-2020
Andhra Pradesh state government has launched ‘Designated Technology Park aka DTP Policy 2017-2020’ in Amravati. As claimed, it is a first of its kind initiative in the country, aimed to solve office space crunch for IT companies in the state.
Delhi Court Seeks Action Report From Delhi Police On Complaint Against Ecommerce Sites
A complaint has been filed against ecommerce players Amazon India, eBay and Shopclues and their Managing Directors about an objectionable post about the online sale of ashtrays portraying a naked woman. The case came up before Chief Metropolitan Magistrate Babru Bhan, who sought an action taken a report (ATR) from the Delhi Police on the plea for lodging FIR against them.
Snapdeal Might Sell Off Vulcan Express To AllCargo
AllCargo is a Mumbai-based global transportation logistics solutions provider in over 160 countries. The firm is listed on BSE and the deal can be possibly done for $4.6 Mn (INR 30 Cr). As per sources, the term sheet hasn’t been signed yet and the company is evaluating a draft, however, AllCargo has termed the development as ‘market speculation’.
Other Indian Startup Stories Of The Week
Uber Launches PREMIER In Bengaluru
This will gives select riders an early access to a superior ride option at affordable, everyday fares. PREMIER will be available as an in-app product option that serves as an upgrade to their current uberX experience. PREMIER is currently available in Mumbai and Pune.
Kotak Mahindra Bank and Zeta Launch Paymint
Paymint is a multi-wallet digital prepaid solution for salaried employees. It enables secure, easy and paperless process for employee allowances and reimbursements including meal vouchers, medical reimbursements, leave travel allowances, gift cards, conveyance, fuel allowances, driver salaries and so on to maximise tax benefits for employees and optimise the process of making claims.
Hyderabad To House OYO’s Technology Development Centre
The new tech development centre in Hyderabad will support OYO’s operations across the country and internationally. The new development centre will support its accelerated growth plans and will also act as its centre of excellence for machine learning and artificial intelligence initiatives.
Nutri Food maker Inner Being Looks To Expand Operations
High-nutrition food products manufacturer Inner Being, which manufactures millets and Quinoa-based value-added items, is looking to expand its operations in Bengaluru, Mumbai, and Dubai after its successful stint in Hyderabad, informed a senior company official. Further, it looks to expand its product offering to 25 from the current 14.
Stay tuned for the next edition of the News Roundup: Indian Startup News Of The Week!