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< Back Quick commerce apps to start delivering electronics, white goods by Diwali 18 Jun 2024 By Diwali, quick commerce apps like BBNow, Zepto, Swiggy Instamart and Zomato’s Blinkit plan to start selling electronics and appliances in 10-45 minutes. As companies experience up to 45% sales through quick commerce, electronics brands are also partnering with quick commerce apps. Tata’s Croma is partnering with BBNow to sell smartphones. If apps can offer exchanges and EMI buying options demanded by customers, this will be a significant revenue stream. These products are expected to bring in much more revenue and enhance customer stickiness than other products bought on these apps. However, for large appliances, these apps will sell only 4-5 top-selling models or the ones in high demand, as per customer reviews, and not as wide a range as Amazon or Flipkart. Big appliances will consume larger warehousing spaces and four-wheeler deliveries. Blinkit ran a pilot selling iPhone for a limited period last year. Havells sold air coolers and fans in a pilot program this year. Q-commerce apps also sell small products like Bluetooth speakers, smartwatches, fans, and steam irons. Previous Next

< Back Amul set to expand to the US 28 Mar 2024 Branded milk products like Amul Taaza, Amul Shakti, Amul Slim n Trim, and Amul Gold will hit the shelves within a week. Amul partnered with the Michigan Milk Producers Association (MMPA) in the US for collection and processing as per Amul’s recipe. Meanwhile, it will brand and market its products in New York, New Jersey, Dallas, Chicago, and Washington. Amul will market the products under the name Gujarat Cooperative Milk Marketing Federation, the cooperative society that owns the Amul brand. MMPA is America’s 10th biggest farmer-owned dairy cooperative society and a 108-year-old brand that owns Country Fresh. Amul’s fresh milk will be premium priced, and the company will also supply butter, cheese, and buttermilk to the American market. In the first quarter of its launch, the brand will distribute fresh milk through Indian grocery stores and a few mainstream channels. The man who led India’s milk revolution, Verghese Kurien, set up Kaira District Cooperative Milk Producers’ Union Limited, which later became Amul. He is also a Michigan State University alumnus. Previous Next

< Back Ford may re-enter India by 2025 13 Sept 2024 It has held multiple negotiation rounds with the Tamil Nadu government over the past six months but has yet to make a final decision. After exiting India in 2021, Ford is planning a comeback next year. Over the past six months, it has held many discussions with Tamil Nadu Chief Minister M.K. Stalin to discuss EV and ICE (Internal Combustion Engine) vehicle production at its old Maraimalai Nagar plant just outside Chennai. Talks of its return erupted in the market after Ford India filed for a design patent for the new Endeavour model, its bestselling product in the country. After its exit, several OEMs (Original Equipment Manufacturers) showed interest in acquiring the plant, but nothing was finalised. Ford left India after suffering operational losses to the tune of $2 billion in a decade. Moreover, its product strategy did not succeed with Indian consumers, who prefer smaller, fuel-efficient cars. The company could not fully utilise its manufacturing capacity, which impacted its financials, and it wanted to focus on profitable markets. Previous Next

< Back Dream11 acquires fantasy cricket stock broking platform Sixer Ishita Nigam 9 Oct 2023 Founded in 2018 in New Delhi, Sixer allows users to invest in fantasy stocks of cricket players. Stock prices vary as per the cricketer’s on-field performance. To offer an add-on thrill on its platform, fantasy sports platform Dream11 acquired the fantasy cricket stockbroking platform Sixer last month. Delhi-based online trading platform founded in 2018, Sixer lets users trade in fantasy stocks of cricketers. Stock performance varies as per their real life performance on the field. The startup had raised $3 million in June 2021 from Genting Ventures, Bullpen Capital, and Velo Partners. Dream11 recently received a show cause notice from the Directorate General of GST Intelligence (DGGI) to pay ₹28,000 crores tax as per 28% rate for bets worth ₹100,000 crores placed on its portal since 2017. A 28% GST applies to every deposit made on the portal each time it is rotated via a game. So, tax must be paid for every bet placed on the portal. Industry representatives approached the government to reconsider the GST slab to avoid raising tax liability for the industry. Previous Next

< Back Income tax collections more than doubled since FY15 18 Oct 2024 Personal income tax collections spiked by 294.3% from ₹2.66 lakh crore in FY15 to ₹10.55 lakh crore in FY24, with Maharashtra leading the pack. Improved compliance, better awareness, and reduced corporate tax led to India’s income tax reserves filling up. Compared to 5.7 crore taxpayers in FY15, 10.41 crore Indians paid taxes in FY24. The number of IT returns increased more than twice from ₹4.04 crore in FY15 to ₹8.61 crore in FY24. Corporate tax collections also rose by 112.85% from ₹4.28 lakh crore to ₹9.11 lakh crore in this duration. The tax-to-GDP ratio was boosted by 6.64% in the current financial year FY25 compared to 5.55% in FY15. However, the direct tax contribution to the overall tax collection increased slightly from 56.16% to 56.72% in the same period. Leading the pack in terms of contributions to direct tax collections were Maharashtra, Karnataka, New Delhi, Tamil Nadu, and Gujarat, accounting for more than 72% or ₹14.19 lakh crore of the total ₹19.61 lakh crore. Maharashtra contributed ₹7.61 lakh crore to the direct tax collections. Previous Next

< Back US to remove restrictions on 3 Indian nuclear companies 16 Jan 2025 Inclusion in the Entity List restricts access to American nuclear technology. During his recent visit to New Delhi, the US National Security Advisor (NSA) Jake Sullivan announced on January 6th their decision to remove three Indian companies from the Entity List – Indira Gandhi Atomic Research Centre (IGCAR), Indian Rare Earths Limited (IREL), and the Bhabha Atomic Research Centre (BARC). Steps are being taken to lift the restrictions. This move will promote cooperation for essential minerals and a clean energy supply chain and reduce barriers to collaborative research and development between India and the US. It will enable the implementation of the Indo-US Civil Nuclear pact signed 16 years ago. However, it does not mean India will gain unrestricted access to American nuclear technology. Simultaneously, the Bureau of Industry and Security (BIS) under the US Department of Commerce added 11 Chinese companies to the Entity List. The US had restricted over 200 entities after India had conducted nuclear tests in 1998. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp, LinkedIn, Facebook, X, and Instagram. Previous Next

< Back McDonald’s and Crocs launch footwear merchandise 20 Nov 2023 The brand will offer a fast food themed footwear collection inspired by McDonald’s characters Grimace, Birdie, and Hamburglar. McDonald's has partnered with Crocs to sell its fast food themed footwear in select countries, in some Crocs retail and wholesale outlets and Crocs.com . The footwear range falls between $70 and $75, inspired by McDonald’s Birdie, Grimace, and Hamburglar characters. The Grimace-inspired shoes are faux fur lined sandals, while the other two are clogs. The red and yellow coloured clogs in sync with the brand’s theme will also be available. Customers can also get the option to buy matching socks starting at $20. The merchandise includes McDonald’s themed Jibbitz charms like the brand’s golden arches, the Big Mac, and French fires that can be attached to the clogs. The fast food giant had partnered with British skate brand PALACE in August to launch limited edition merchandise. This is McDonald’s first-ever shoe collaboration as the brand attempts to utilise the similar fanbase the two brands share. Previous Next

< Back Air India introduces Wi-Fi on domestic, int’l flights 6 Jan 2025 From January 1st, 2025, Air India introduced the service on all flights operated by Airbus A350, a few Airbus A321neo, and Boeing 787-9. On January 1st, Air India became the first Indian carrier to introduce Wi-Fi onboard domestic and international routes. The service will be available to all passengers free of cost during the introductory period. The airline hasn’t yet specified till when the complementary period will last. Users can use Wi-Fi on Android and iOS smartphones, laptops, and tablets and connect multiple devices above an altitude of 10,000 feet. To use Wi-Fi, users can select the ‘Air India Wi-Fi’ network from Wi-Fi settings. On being directed to the Air India portal on the browser, enter the PNR and last name to access complimentary internet service. The national carrier conducted a pilot programme on international routes to New York, Singapore, London, and Paris. In-flight Wi-Fi connectivity depends on satellite systems, routes, government regulations, and bandwidth availability. However, Air India intends to gradually extend the services to more aircraft in its fleet. Previous Next

< Back MS Teams app to be launched on Android Auto in February 8 Jan 2024 Users will be able to join meetings and make calls directly from the calendar view mirrored on the car’s screen via the Android Auto app. After a year’s delay, the Microsoft Teams app will finally be available on Android Auto starting in February. The app will allow users to make calls via speed dial and join meetings directly from the calendar view on the Teams app. Although driving and working are incompatible and illegal in many cities, this feature could come in handy, especially for parked cars, joining conference calls, or narrating tasks. However, MS Teams won’t allow video calls, and users will have to park their cars and take video calls from their mobile phones. More details are awaited by the company. The Teams app has been available on iOS CarPlay since 2021. Android Auto is Google’s app that mirrors phone functions onto the car screen. It offers enlarged icons, easy-to-browse menus and voice-activated controls to make it easier to command while driving. Previous Next

< Back India’s renewable power generation rises 86% since 2014 9 Oct 2024 Global investors pledged to invest ₹32 lakh crore at the RE-Invest 2024 Summit. India’s renewable energy (RE) rose to 360 billion units in 2024 from 193.5 billion units in 2014. Its capacity has increased 175% from 75 gigawatts (GW) to 208 GW against its target of 500 GW renewable energy by 2030. Projects for 91 GW of power are currently in tendering. India now ranks 4th globally in renewable energy installed and wind power capacity. Its solar energy capacity has grown 33 times since 2014. In 2023, India achieved two Nationally Determined Contribution targets ahead of time. Between 2005 and 2019, the share of carbon emissions intensity to GDP was reduced by 33%, against the target of 33-35% by 2030. It also had a target to achieve an overall electric power installed capacity from renewable sources of around 40% by 2030. On October 31st, 2023, it recorded this capacity from renewable sources at 186.46 MW, which is 43.81% of the total installed capacity. Previous Next

< Back Telecom Department, mobile operators target fake int’l callers with Indian numbers 27 May 2024 The ‘Sanchar Saathi’ portal’s RICWIN module will identify international callers with an Indian number and assist users in reporting such callers. The Sanchar Saathi portal, launched by the Department of Telecommunication (DoT) in May 2023, assists in identifying fake international callers with Indian numbers. These international criminals manipulate the Caller Line Identity (CLI) to display local numbers to conduct financial fraud, cybercrime, fake digital arrests, drugs and narcotics in couriers, FedEx scams, and impersonating government and police officials. The Telecom Service Providers already block international callers with Indian landline numbers and have also been directed by the DoT to block mobile calls. Using Sanchar Saathi, users can report fraud cases, check the mobile numbers issued in their names, and disconnect the ones they did not take. The portal’s TAFCOP module assists in checking the genuineness of the device while buying a new mobile phone. The CEIR module can help block and track a lost or stolen phone. The Chakshu mode facilitates reporting fraud, suspecting and unsolicited calls, SMSes, and WhatsApp messages. Previous Next

< Back GIFT City, Gujarat, pulling Indian startup HQs back home Ishita Nigam 19 Sept 2023 International Financial Services Centres Authority (IFSCA) set up an International Financial Services Centre (IFSC) in Gujarat to stop Indian startups from setting up headquarters in foreign locations. PhonePe shifted its headquarters back home from Singapore last year, and up to 20 Indian startups are planning to follow suit. Among those who are interested in ‘Desh Wapsi’ or reverse flipping are Groww and Razorpay. These companies set up their base abroad due to high taxes, unsupportive business environment, mandatory guidelines from investors like Y Combinator, and ineffective Intellectual Property Laws. That’s when IFSCA’s International Financial Services Centre was set up in GIFT City, Gujarat. The Gujarat International Finance Tec-City (GIFT City) is a foreign territory in India, offering tax exemptions and simplified financial norms. The 530+ startups registered there can transact in foreign currency, move their capital and investments in and out of India, and enjoy a business-friendly environment with access to venture capitalists and fintech centres. SEBI, RBI, Pension Fund Regulatory and Development Authority (PFRDA), and Insurance Regulatory and Development Authority of India (IRDAI) regulate GIFT City’s functioning. Previous Next