Author: Business Matters Editor

India Calls Off Ban on Import of Laptops, Tablets, and Other IT Hardware In a significant reversal of its earlier decision, the Indian government has called off the ban on the import of laptops, tablets, and other IT hardware. The ban had sparked concerns among businesses, students, and the IT industry, and its removal comes as a relief to many who rely on these devices for work, education, and personal use. Background: The ban on the import of laptops, tablets, and certain other IT equipment was announced in July 2021 as part of a broader effort to promote domestic manufacturing…

The Open Network for Digital Commerce (ONDC), a government-backed initiative in India, has introduced a Corporate Gift Card program as part of its efforts to boost sales on the platform during the upcoming festive season. This move aims to tap into the growing corporate gifting market while providing convenience and flexibility for both businesses and consumers. The ONDC Initiative: The ONDC is an ambitious project launched by the Government of India to create a unified digital commerce platform. It seeks to empower consumers, retailers, and small businesses while promoting fair competition and transparency in the e-commerce ecosystem. The Corporate Gift…

Apple Becomes Largest Smartphone Exporter From India, Samsung Takes Second Spot In a significant development for India’s smartphone manufacturing and export industry, Apple has emerged as the largest smartphone exporter from the country, with Samsung closely following as the second-largest exporter. This milestone underscores India’s growing importance in the global smartphone market and reflects the success of the government’s “Make in India” initiative. Apple’s Ascendancy in India’s Smartphone Exports Apple, one of the world’s leading smartphone manufacturers, has been increasing its manufacturing efforts in India for several years. The company’s manufacturing partner, Foxconn, began assembling iPhones in India in 2017.…

Amazon India Launches Multi-Channel Fulfilment for D2C Brands and Other Sellers In a move aimed at empowering Direct-to-Consumer (D2C) brands and other sellers, Amazon India has introduced Multi-Channel Fulfilment (MCF). This service, which was launched recently, promises to streamline the order fulfillment process, allowing sellers to expand their reach and sell products not only on Amazon’s platform but also on other e-commerce channels, thus diversifying their sales channels and increasing their customer base. What is Multi-Channel Fulfilment (MCF)? Multi-Channel Fulfilment is a service offered by Amazon that allows sellers to fulfill orders from various sales channels, not just the Amazon…

DroneAcharya, a leading drone technology and education company, has announced a strategic partnership with Switzerland-based Wollstone Capital to establish 30 pilot training academies across India. This collaboration aims to address the growing demand for skilled drone pilots in various industries and foster the responsible use of drone technology in the country. Key Highlights of the DroneAcharya-Wollstone Capital Partnership: Rising Demand for Drone Pilots: As the use of drones continues to expand across industries such as agriculture, construction, infrastructure, and surveillance, there is a growing need for certified and skilled drone pilots.Comprehensive Training: The pilot training academies established under this partnership…

Nazara Technologies, a leading mobile gaming company based in India, is gearing up for expansion and innovation after raising significant funds. With fresh capital in hand, the CEO of Nazara Technologies, Manish Agarwal, has ambitious plans to further establish the company’s presence in the global gaming industry. Key Points about Nazara Technologies and Manish Agarwal’s Plans: Funding Round: Nazara Technologies recently concluded a successful funding round, which injected substantial capital into the company. This funding provides Nazara with the financial firepower to pursue growth and expansion.Global Gaming Company: Nazara Technologies is a prominent player in the mobile gaming industry, with…

A startup founded by a former Senior Vice President (SVP) of Flipkart, one of India’s leading e-commerce giants, has successfully secured $6.7 million in funding to develop a platform catering to power shoppers. The venture aims to enhance the online shopping experience by providing specialized tools and features to assist users in making well-informed purchasing decisions. Key Highlights of the Funding Round: Startup’s Background: The startup, founded by a seasoned e-commerce professional with a background in Flipkart, has set out to create a platform that caters specifically to power shoppers. Power shoppers are individuals who make frequent and often high-value…

Yatra Online’s IPO Sees Muted Response on Day 2 with 0.31X Subscription The initial public offering (IPO) of Yatra Online, an online travel aggregator, continued to witness a lackluster response on Day 2 of the IPO on Monday, September 18. The subscription rate stood at 0.31X, reflecting subdued investor interest in the offering. Key Points Regarding Yatra Online’s IPO: Subscription Rate: On the second day of the IPO, Yatra Online’s issue received a subscription rate of 0.31 times, indicating that only a fraction of the shares on offer had been subscribed to by investors.Lackluster Interest: The muted response to the…

Foxconn, a leading global electronics manufacturer and a major assembler of Apple’s iPhones, has unveiled an ambitious plan to double its operations in India within the next year. This significant expansion is indicative of India’s growing prominence as a manufacturing hub for electronics and reflects Foxconn’s commitment to capitalizing on the country’s burgeoning consumer market. Key Highlights of Foxconn’s Expansion Plan: Investment Commitment: Foxconn plans to invest approximately $1 billion in expanding its operations in India. This investment will encompass the development of new manufacturing facilities and the enhancement of existing ones.Job Creation: The expansion is expected to generate thousands…

The state of Odisha in India has taken a significant step toward fostering entrepreneurship and innovation by launching a INR 100 crore (approximately $13.5 million) Startup Growth Fund. This initiative aims to provide financial support and mentorship to startups and emerging businesses, stimulating economic growth and job creation in the region. Key Highlights of Odisha’s Startup Growth Fund: Financial Support: The INR 100 crore fund will serve as a source of financial support for startups across various sectors. It will provide equity funding, grants, and other forms of investment to eligible startups.Promoting Innovation: The fund’s primary goal is to encourage…