Author: Business Matters Editor

In a strategic move to expand its market presence and compete more aggressively with its Indian e-commerce rival, Flipkart, Amazon has introduced a more affordable Prime membership option called “Amazon Prime Young.” This new offering aims to tap into India’s youth demographic and provide them with exclusive benefits at a reduced cost, effectively taking on Flipkart VIP, which targets a similar audience. Understanding Amazon Prime Young Amazon Prime Young is a modified version of the regular Amazon Prime subscription, with specific benefits tailored to attract younger customers in India. The primary features of this membership include: Lower Subscription Cost: Amazon…

Industry bodies such as the Internet and Mobile Association of India (IAMAI), the Cellular Operators’ Association of India (COAI), and the Broadband India Forum (BIF) have slammed the demand of telecom service providers (TSPs) to levy a network fee on over-the-top (OTT) platforms. The TSPs, which include Reliance Jio, Airtel, and Vodafone Idea, have argued that they should be compensated for the high costs they incur in building and maintaining their networks, which are used by OTT platforms to deliver their content to users. The OTT platforms, on the other hand, have argued that such a levy would be unfair…

Bolt.Earth, India’s leading EV infrastructure and software company, has raised $20 million in funding from Prime Venture, ITIGO Funds, and other investors. The company plans to use the funds to accelerate its growth and expand its reach across India. Bolt.Earth provides a range of EV charging solutions, including public charging stations, private charging stations, and fleet charging solutions. The company also offers a software platform that helps EV users find and manage charging stations. Bolt.Earth has a strong presence in India, with over 30,000 charging points installed across more than 1,000 cities. The company also has partnerships with leading EV…

1 Conversational Support Platform ClearFeed Bags $2.7 Mn in Seed Funding ClearFeed, a conversational support platform for enterprises, has raised $2.7 million in seed funding led by Peak XV’s Surge. The funding round also saw participation from 8VC and other angel investors. ClearFeed’s platform uses artificial intelligence (AI) to streamline customer and employee support requests through chat platforms like Slack and Microsoft Teams. The platform offers a variety of features, including triage channels, one-click ticket submission, and real-time two-way data synchronization. It also integrates with a variety of other software tools, including Zendesk, Jira, FreshDesk, HubSpot, Github, Linear, Intercom, and…

Flipkart Launches ChatGPT-Powered Shopping Assistant ‘Flippi’ Ahead of Festive Season Ahead of the festive season, Flipkart, India’s homegrown e-commerce platform, has launched a ChatGPT-powered shopping assistant called Flippi. Flippi is designed to help shoppers find the best products and deals, and to make the shopping experience more personalized and convenient. Flippi can be accessed through the Flipkart app or website. To use Flippi, shoppers simply need to type in their query, such as “best smartphones under ₹20,000” or “latest fashion trends for Diwali.” Flippi will then generate a list of relevant products, along with ratings and reviews from other shoppers.…

True Elements, a Pune-based healthy snacks brand, spent INR 84 crore to earn INR 57 crore from selling healthy snacks in FY23, according to Inc42. This means that the company incurred a net loss of INR 27 crore. The company’s expenses surged in FY23, driven by increased marketing and advertising costs, as well as higher research and development costs. True Elements also invested heavily in expanding its distribution network and setting up new manufacturing facilities. Despite the losses, True Elements is optimistic about its future growth prospects. The company is targeting a revenue of INR 100 crore in FY24, and…

Meesho, India’s largest social commerce platform, has announced that it will now be onboarding non-GST registered small businesses on its platform. This is a significant move, as it will open up the e-commerce market to a much larger number of sellers, including those who are just starting out or who have a small turnover. Why is this important? There are millions of small businesses in India that are not registered for GST. This is because the GST registration threshold is INR 40 lakh, and many small businesses do not meet this threshold. This means that these businesses are unable to…

Karnataka Government Notifies Ordinance To Implement 28% GST On Real Money Gaming The Karnataka government has notified an ordinance to implement a 28% Goods and Services Tax (GST) on real money gaming, casinos, and racecourses. The ordinance was signed and gazetted by Governor Thawar Chand Gehlot on September 29, 2023, and came into effect on October 1, 2023. The move comes ahead of the Union government’s planned implementation of the new GST regime on the online gaming sector. On July 28, 2023, the GST Council decided to impose a 28% GST on the full face value of stakes in online…

Bengali OTT platform hoichoi has seen a 40% rise in direct subscriptions in the past year. The platform has also partnered with JioCinema to make its content available to a wider audience. Hoichoi is a subscription-based video streaming platform that offers a variety of Bengali content, including movies, TV shows, web series, documentaries, and short films. The platform was launched in 2016 and has since become one of the most popular OTT platforms in Bengal. The 40% rise in direct subscriptions is a significant achievement for hoichoi. It shows that the platform is growing rapidly and that its content is…

Amitabh Bachchan, one of the most popular and respected actors in India, has received backlash after appearing in an advertisement for Flipkart, a major e-commerce company. The ad in question shows Bachchan talking about how Flipkart offers better deals than local shops. Local traders in India have expressed outrage over the ad, saying that it is misleading and unfair. They argue that Flipkart’s discounts are only possible because the company does not have to pay taxes or rent in the same way that local shops do. The traders have also accused Flipkart of killing local businesses. They say that Flipkart…