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January 2020 - Business News

  • The Competition Commission of India (CCI) has released a report ‘Market Study on E-commerce in India: Key Findings and Observations’ on January 08, 2020. This study was initiated by CCI in April 2019 with an objective to understand the performance of e-commerce in India. This study highlights that e-commerce is gaining importance across the sectors in India. The study shows that e-commerce has increased price transparency and price competition in the country. Apart from that, it also presents key trends and issues of the market. 

    CCI report on e-commerce in India confirms that the broad categories of consumer goods are sold online in India. The study covered goods like electronic appliances, mobile phones, lifestyle-related goods, and groceries where online commerce is still growing. Apart from that, online hotel bookings, apparel purchases, buying accessories, purchasing fashion products have been rising. In food sector, 83 percent of restaurants admitted that they have an online presence. It was also reported by the respondent restaurants that their online sales is accounting for about 29 percent of total revenue. It has mentioned in the CCI report that most of the consumers are using price comparison tools for hotel bookings.

  • Reliance Jio has launched its Wi-Fi calling service for both voice and video calling platforms. Reliance Jio’s Wi-Fi service will be known as VoWiFi. All Jio users, with existing numbers, will be able to use a Wi-Fi network to make or receive calls. Reliance Jio introduced this service in Delhi-NCR and Chennai circle a few days ago but it will be started across the country by January 16. More than 150 types of smartphones will support this service. Jio was testing this service for the past few months.

  • The Govt of India signed MoU with Flipkart for selling the products made by women self help group under Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM). DAY-NULM consists of 44 lakh women across the country which aims to make women financially independent. Government is likely to sign MoU with Amazon on January 7, 2020, for the same purpose.

  • Kerala is organizing the Global Investors Meet 'ASCEND 2020'. The meet will be held from 9-10 January 2020 in Kochi, Kerala. The meet will be organized by the Industries Department of the state government.

  • The Central Industrial Security Force (CISF) will observe 2020 as the ‘year of mobility’. It will have a special focus on the creation of more residential units and implementation of various welfare measures for the troops. In 2020, the CISF will aim at creating an infrastructure for their families. It will also aim at focusing on sports and physical fitness leveraging modern gadgetry.

  • Inc will invest $1 billion in digitising small- and medium-businesses in India and expects to export $10 billion worth of India-made goods by 2025. Amazon has committed $5.5 billion in India investments and sees the country as a key growth market.

  • The industrial output grew 1.8 per cent in November last year, turning positive after three months of contraction, on account of growth in the manufacturing sector. According to the National Statistical Office (NSO) data released on January 10, 2020, the growth in the manufacturing sector was 2.7 per cent as against a contraction of 0.7 per cent in November 2018. The Index of Industrial Production (IIP) had grown by 0.2 per cent in November 2018. In November 2019, Electricity generation turned negative (-) 5 per cent as against a growth of 5.1 per cent in November 2018. Mining sector output decelerated to 1.7 per cent from 2.7 per cent in the year ago month. The IIP growth during April-November period of the current fiscal came in at 0.6 per cent, down from 5 per cent in the same period of 2018-19.

  • Fair trade regulator Competition Commission of India, CCI has ordered a probe against Flipkart and Amazon for alleged malpractices, including deep discounting and tie-ups with preferred sellers.

  • In Gujarat, the first edition of Krishi Manthan- the largest Food, Agri-business and Rural Development Summit of Asia organized by Indian Institute of Management, Ahmedabad began on January 16, 2020. More than 1,500 delegates including students and academicians are participating in the two-day event organized by the Food and Agribusiness Committee of IIMA.



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