e-Bay India Merges with Flipkart

Online selling platform eBay India, and Bangalore, India-based e-commerce firm Flipkart Group formally concluded their merger process. Flipkart will own and operate eBay, while the latter will function as an independent entity even as the two firms explore opportunities in cross-border trade. Customers from Flipkart and eBay will get access to both of the firm’s […]

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August 16, 2017   No Comments

Mars Food Acquires Tasty Bite in India

Mars Food, the European arm of Virginia-based Mars Inc, has signed a definitive agreement to acquire Preferred Brands International, based in Connecticut. The deal is expected to close by the fourth quarter of 2017, subject to regulatory approvals. Preferred Brands International, a manufacturer and marketer of ready-to-heat Indian and Asian food products, in turn, owns […]

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August 16, 2017   No Comments

Amazon’s India Innovations Adopted Globally

Seattle-based Amazon‘s innovations in India are being adopted by its teams from across the globe including its U.S. and European e-commerce arms, Terry Hanold, vice president of Amazon’s international consumer technology, said. The Times of India reports that a successful innovation, called “seller flex,” allows a seller to make their location available for Amazon to […]

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August 15, 2017   No Comments

India to Divest Stake in Four Defense Companies

Aiming to meet its $11 billion divestment target by March 2018, the Government of India is considering selling up to 25% of its stake in four state-owned companies under the control of the department of defense through an initial public offering. It has invited proposals by August 18. The four companies are Mazagon Dock Limited., […]

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August 15, 2017   No Comments

Income Tax Collections Rise 42 percent in India

Tax compliance in India has improved: more than 28.2 million taxpayers filed their tax returns for the 2016-17 financial year before the extended deadline of August 5 — a 24.7% increase over the previous year, the Federal Board of Direct Taxes announced. Though the deadline for filing returns is over, taxpayers can file returns for […]

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August 13, 2017   No Comments