Flipkart

Hopscotch has hired Barclays to raise $60 Mn for expansion

It is also planning to repurchase ESOPs

Both Amazon and Flipkart have been affected by FDI in ecommerce guidelines

The policy will also focus on developing India’s position in global trade negotiations

The revelation comes in at a time when international trade rules for ecommerce sector is in the works

Earlier ecommerce draft had suggested storing personal and community data on Indian servers

Amazon claims to have no stake in its sellers

The brands are targeting direct sales

Since February 1, Amazon and Flipkart can’t have more than 25% stake in a seller

The government is examining setting up a regulatory authority

The commerce ministry will discuss core issues of internal trade with traders

DPIIT may also include recent changes in FDI policy for ecommerce

A part of this investment will be used to fund its ecommerce venture

Ambani first mentioned Reliance's ecommerce venture last month

Reliance's ecommerce plan will benefit over 3 Cr small shopkeepers across country

Binny Bansal said the new rule may discourage investors from making long term investments in India

He added that it may create an obstruction for innovation and company creation

Bansal’s comment comes in after reports said that Walmart may exit Flipkart

IVCA has submitted its feedback to DPIIT and has also made a representation to the PMO

IVCA claims that new FDI rules will clip wings of Indian startup movement

It also says that these rules will favour big business houses over startups

This move was mandated as a part of the new ecommerce guidelines

The etailers are yet to provide seller details on their platform

The mandate was made in order to curb the sale of fake goods via ecommerce platforms

DPIIT is finalising the new draft ecommerce policy

The new policy will include changes in FDI policy for ecommerce

DPIIT is set to hold a meeting with stakeholders

Binny Bansal and Sachin Bansal started Flipkart by delivering books themselves in 2007

Binny shares his experience of handing over the baton of his company to Kalyan Krishnamurthy

He left Flipkart on allegations of personal misconduct in November 2018

Amazon’s shares fell by 5.38% to $1626.23, losing $45.22 Bn in market capitalisation

Walmart’s share price were down by 2.06% to $93.86 on NYSE, losing $5.7 Bn in market cap

Since Feb 1,  Amazon and Flipkart, have seen sales fall by as much as a third

DIPP press release on January 31 declined any extension to Feb 1 deadline

This is a step clean the greatly vitiated ecommerce market, says CAIT general secretary

Both Amazon and Flipkart had sought 4-6 months extension to the deadline