Flipkart, Amazon to be affected as govt tightens e-commerce norms : Bulletin: Business Today
Business Today

Flipkart, Amazon to be affected as govt tightens e-commerce norms

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December 27, 2018

E-tailers, traders welcome new FDI policy; small vendors say 25% limit will deter entrepreneurship

E-commerce firms and trade groups on Wednesday appreciated the new rules for the sector, noting that the norms would help create level playing for all sellers. But small vendors are a worried lot over the condition on vendors to sell only 25 per cent of their products through an e-commerce platform. The monitoring and compliance mechanism of the new policy has been questioned by All India Online Vendors Association as the existing policy already bars e-commerce companies with foreign ownership from selling its own inventories and influencing pricing of products on its platform.

Flipkart, Amazon may not be able to offer big discounts as govt tightens e-commerce norms

Tightening norms for e-commerce firms like Flipkart and Amazon, the government on Wednesday took host of steps and barred them from selling products of the companies in which they have stake. The commerce and industry ministry also prohibited e-commerce companies from entering into an agreement for exclusive sale of products. These changes will come into effect from February 1 this year.

Indian-American Rajesh Subramaniam named President and CEO of FedEx

Indian-American Rajesh Subramaniam has been named as the president and chief executive officer of US multinational courier delivery giant FedEx Express. Subramaniam, currently the executive vice president, chief marketing and communications officer of FedEx Corporation, will assume his new role on January 1, 2019.
Expert panel formed to determine size of RBI reserves, Bimal Jalan named chairman

The Reserve Bank of India (RBI) has set up the Expert Committee on Economic Capital Framework on Wednesday. The expert panel will be headed by former RBI Governor Bimal Jalan. Former Deputy Governor Rakesh Mohan has been named the vice chairman of the committee. The other four members on the six-member panel include RBI Central Board directors
Tech startups to hire over 40,000 people next year; Zomato, Oyo, Swiggy chalk out plans

The year 2019 could bring cheers to job seekers looking for employment opportunities, especially in the e-commerce sector. From well-funded startups like Healthians, Milkbasket, Car24, Instamojo to established companies like Zomato, Oyo and Swiggy, all are planning to raise their headcount by over 30 per cent. These companies have already chalked out plans to hire over 40,000 people in the next year alone

Pod hotels for stopovers? IRCTC plans next-gen lodging for passengers

In a rather innovative move, the catering arm of the national transporter, Indian Railway Catering Tourism Corporation Limited (IRCTC), is planning to bring a next-generation system of lodging for railway passengers - pod hotels! IRCTC has proposed setting up of a pod hotel near the Mumbai Central railway station. The corporation wants to offer affordable, comfortable stopover options with more amenities than the usual retiring rooms
Air traffic services personnel can work only up to 12 hrs in a day: DGCA draft norms

Aviation watchdog DGCA has proposed duty time limits and rest hours for air traffic services personnel, wherein an individual can be on duty for up to 12 hours in a day. This is the first time that the regulator has mooted duty time limits for Air Traffic Services (ATS) personnel and it also comes at a time when air traffic has been growing exponentially. Duty period will not exceed 12 hours and "the aggregate of duty period will not exceed 50 hours within a defined period of 144 consecutive hours or six consecutive days, according to the draft norms.
India's exports performance "extremely good", but I'm not fully satisfied: Prabhu
India is preparing a specific strategy for exports to each geography as part of plans to make 2019 a year when outward shipments would start driving the country's overall economic growth, Commerce and Industry Minister Suresh Prabhu has said. The minister said India's exports performance has been "extremely good" in the past 14 months, but he is not fully satisfied as yet.



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