The list, now in its thirteenth year, recognizes the activism, innovation and achievement of the world’s most influential individuals.
Flipkart has filed a case against FlipkartDiscounts.net for trademark and copyright infringement. FlipkartDiscounts offers discounted products on the site, along with links to direct consumers to major ecom-sites. Delhi HC has passed an interim order in favor of Flipkart.
Flipkart enjoys a plum 45% market share which is equivalent to the combined market share of the next three players and 60% market share of mobile commerce. The same report also states that the number of online shoppers in India stands at 50 million.
In order to attract more foreign investments, Department of Industrial Policy and Promotion on Tuesday has permitted 100 per cent Foreign Direct Investment in the market place format of e-commerce retailing. DIPP has also come out with definitions of ‘e-commerce’, ‘inventory-based model’ and ’market place model’, to bring out more clarity on which companies will be able to benefit out of the new permits.
“Alibaba deciding to start operations directly shows how badly their Indian investments have done so far” – sachin bansal.
Chinese e-commerce giants Alibaba Group is evaluating options to enter Indian e-commerce industry in 2016. Alibaba is planning to enter in to the market as a standalone entity and run parallel to its investments in existing players such as Paytm and Snapdeal.
The wallet will be powered by FX Mart which was acquired by Flipkart last year. The new method has been launched on Android smartphones. The wallet can be recharged through credit/debit card or net banking. The limit for one time recharge is Rs 10000 and a total of Rs 25,000 can be added by the users in a month.