India retail: A nearly $900 billion market dominated by mom-and-pop stores

India’s expanding retail landscape is changing fast, with global and domestic consumer and retail behemoths fighting tooth and nail to woo shoppers, as many choose large, clean supermarkets over crowded local stores and ordering online. Data from Forrester Research shows India’s retail market was worth an estimated $883 billion last year, of which grocery retail … Read more

India’s draft e-commerce policy calls for equal treatment of sellers

India will require e-commerce firms to treat sellers equally on their platforms and ensure transparency, according to a draft policy seen by Reuters on Saturday that follows criticism against business practices of big online companies. India has been deliberating a new e-commerce policy for months amid complaints from brick-and-mortar retailers who allege online giants like … Read more

SoftBank-backed Coupang raises $4.6 billion in US IPO

Coupang LLC, South Korea’s largest e-commerce company, raised $4.6 billion in the biggest share offering in the United States this year after selling stocks in IPO above its deal target range, the company said on Thursday. Coupang said in a statement that it had priced 130 million shares sold in the IPO at $35 per … Read more

Shares of Reliance Industries plunge 6% on disclosure concerns

Shares of Mukesh Ambani-led Reliance Industries (RIL) plunged nearly six per cent — the most since November 2 — after analysts raised concerns over disclosure standards. The country’s most-valuable firm on Friday reported record quarterly profit for the quarter ended December 31, but didn’t disclose gross refining margins (GRM), a key metric to analyse its … Read more

Overall sales now trending very close to usual times, says D-Mart

Avenue Supermarts Ltd, which owns and operates the supermarket chain D-Mart, on Saturday said its overall sales and sales mix are now trending very close to usual times, though the consumption changes post COVID-19 still persists. Lesser trips and higher basket values continue to be the norm and products such as apparel, laundry, footwear, travel … Read more

Udaan gets $280 million funding boost, now valued at over $3 billion

Udaan, the business-to-business (B2B) e-commerce platform, has kick-started the new year with a fund-raise of $280 million, largely from its existing investors including China’s internet giant Tencent. Venture funds Lightspeed Venture Partners, DST Global, GGV Capital and Altimeter Capital are existing investors who have also contributed to this round. There are two new investors — … Read more