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.

Snapdeal Raises $200 Million Led By Canadian Pension Fund

Delhi based e-commerce player Snapdeal has raised $200 million led by Canada’s Ontario Teachers’ Pension Plan. Iron Pillar and other investors also participated in the funding round. The company had earlier raised $500 million from Alibaba Group, Foxconn Technology Group and existing investor Softbank Group.

Govt partners with Snapdeal for LED bulb distribution

The government wants to replace all 77 crore incandescent bulbs sold in India with LED bulbs. A tie-up with Snapdeal would help the government expand its marketing and distribution reach over 5,000 cities. The annual saving in electricity bills is estimated at Rs 40,000 crore.