Govt. Permits 100% FDI In Only Marketplace Format Of E-Commerce

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.
View Post

Flipkart Founders Net Worth? $1.4Bn..Each!

Mukesh Ambani (US$26bn, rank 21) is the richest Indian. Average age of Indian billionaire is 64. Mumbai is headquarters to most of the billionaires. Manufacturing, Pharma and Tech are the preferred sectors with 22, 20 and 15 billionaires respectively. Totalwealth of billionaires shot up by 16% to US$308bn.
View Post