A total of 78 instances were investigated by the Directorate General of GST Intelligence (DGGI), which is the central investigative and anti-evasion arm of the finance ministry. The DGGI discovered the highest-ever goods and services tax (GST) evasion by the online money gambling industry, which amounted to INR 81,875 crore in FY24.
The Directorate General of Income Tax (DGGI) stated in its most recent annual report that it discovered a record 6,084 instances of tax evasion in 2023-24, involving INR 2.01 trillion in GST. This figure is twice as high as the INR 1.01 trillion that was discovered in FY23 over 4,872 cases.
There 46% of the incidents of tax evasion were related to the non-payment of taxes through clandestine supply and undervaluation, 20% involved fraudulent Input Tax Credit (ITC) claims, and 19% pertained to incorrect ITC claims or refusal to reverse them. These figures were noted in the report.
Similar Cases Were Witnessed in Other Sectors
The Banking, Financial Services, and Insurance (BFSI) sector came in second place, with a total of INR18,961 crore being evaded over 171 cases. Additionally, the pharmaceutical industry (22 cases, INR 40 crore) and works contract services (343 cases, INR 2,846 crore) were among the other industries under consideration.
Moreover, during the fiscal year 24 (FY24), there were 1,976 instances of GST evasion that were discovered in the iron, copper, scrap, and alloys industries, with a total value of INR 16,806 crore. The industries of pan masala, tobacco, cigarettes, and bidi came in third place in terms of evasion, with 212 instances totalling INR 5,794 crore. There were also other industries, such as plywood, lumber, and paper (238 instances, worth INR 1,196 crore), electrical devices (23 cases, worth INR 1,165 crore), and marble, granite, and tiles (235 cases, worth INR 315 crore).
Announcement to Form Inter-Departmental Committee
In addition, the DGGI report suggested the establishment of an interdepartmental committee that would include representatives from the Enforcement Directorate, the Reserve Bank of India, tax authorities, and consumer affairs departments. The purpose of this committee would be to combat the proliferation of online gaming platforms and ensure compliance with regulatory requirements.
Consequently, the time has come to implement a multi-pronged strategy in order to address this area. Regulatory compliance, consumer protection, and national security are all topics that were discussed in the report that was only recently made public by the DGGI. The intelligence wing of the Goods and Services Tax (GST) has taken action against 118 domestic online gambling businesses and issued show-cause notifications to 34 taxpayers, involving a total tax amount of INR 1.1 trillion. These businesses had failed to pay the GST at the specified rate of 28%.
Zomato, a food technology firm run by Deepinder Goyal, has made the necessary adjustments to its answer to the Goods and Services Tax (GST) order issued by the assistant commissioner of revenue from the West Bengal government. The order was for a total of INR 9.85 crore from April 2020 to March 2021.
The corporation has decided to file an appeal against the order rather than pay the amount that was ordered. According to the filing that Zomato made with the exchange, the company believes that it has a compelling case on merits and that it will be appealing the order to the relevant authority. In an earlier filing with the exchange, Zomato made a mistaken statement that the company is obligated to pay the GST authorities the applicable sums.
What Exactly Did Zomato State in Its Recent Filing?
Zomato disclosed in its September 13 filing that it had received an order from the Assistant Commissioner of Revenue, Government of West Bengal, for the period April 2020 to March 2021. The order confirmed the demand for GST in the amount of Rs 5,59,54,319/-, with an interest of INR 3,69,67,792/- (Three Crores Sixty Nine Lacs Sixty Seven Thousand Seven Hundred and Ninety Two Rupees Only) and a penalty of INR 55,95,432/- ( Fifty Five Lacs Ninety Five Thousand Four Hundred and Thirty Two Rupees Only).
The demand order has been obtained in regard to the non-payment of the Goods and Services Tax (GST) on delivery charges, as well as interest and penalties accordingly.
Profits for Zomato in the First Quarter of FY25
On the first of August, the food delivery company Zomato made an announcement on its profitability for the quarter that spanned April to June of the fiscal year 2024-25. A company saw its consolidated net profit increase to INR 253 crore in the first quarter of the fiscal year 2025 from INR 2 crore in the same time the previous year.
As per a survey conducted by a media house, it indicated that the company’s profit after tax for the quarter was INR 253 crore. It was reported that Zomato’s revenue from operations in the reporting quarter was INR 4,206 crore, which is higher than the survey poll forecast of INR 3,9826 crore. In comparison, Zomato’s revenue from operations in the same quarter a year earlier was INR 2,416 crore.
According to the analytics provided by the BSE, Zomato has a market cap of INR 2.41 lakh crore. The company is included in the BSE 100 index as one of its parts. According to Goldman Sachs, the market price of Blinkit, the Quick-commerce platform that Zomato purchased in 2022 for a total of $568 million, is currently at $13 billion. In terms of valuation, this translates to a remarkable sixfold gain from the previous year to the current year.
Challenge organized in partnership with Nas.io and Back To Back SWE
Five startups awarded Rs 10 lakh equity-free grant
Founders get chance to directly interact with Agarwal and seek feedback
16th September 2024, New Delhi: Ritesh Agarwal, founder & group CEO of travel-tech company OYO, recently joined forces with global influencer Nuseir Yassin’s (popularly known as NAS) creator platform NAS.io and online learning portal Back To Back SWE for the 7-Day Startup Challenge, a program designed to guide early-stage startups through the foundational steps of building and refining a business idea, with Agarwal awarding a Rs 10 lakh equity-free grant to five winners.
The challenge attracted nearly 3,000 participants from around the world, including India, the US, Canada, and the UAE. The event, which was hosted on NAS.io, revolved around seven distinct daily themes, each covering a crucial aspect of business development, ranging from goal setting and market research to product roadmap and branding.
The five winners included Bharat Anubhav, an Odisha-based company building a marketplace for certified tourist guides; Ekogalaxy, a climate education platform; Harmony Sourcing, which is helping global buyers connect with factories in India; Farmkrate, an agricultural solutions startup in Andhra Pradesh; and Aura, a mental wellbeing initiative out of Bengaluru.
Over the years, several people have helped me in my entrepreneurial journey. I feel it is only fitting that I return the favour to the next generation of entrepreneurs by sharing my experience. NAS.io, with its large network of aspiring startup founders, and BackToBackSWE, which offers comprehensive mentorship programs, were ideal partners for such an initiative, said Agarwal.
Ritesh Agarwal also shared his thoughts on the challenge on Twitter:
I recently teamed up with @Nascommunities & @backtobackswe to help budding entrepreneurs with the foundational steps of building and refining their business ideas in a 7 day challenge.
From drafting a business plan to creating a financial model to getting product market fit, we…
“This program will hopefully not only equip them with essential business skills but also foster a spirit of innovation and community. India is in the throes of a startup revolution, with young founders solving real-world problems. With the right support, startups can power the next wave of economic growth.”
Roshan Paul, co-founder at Aura, one of the winners, added: “The simple, step-by-step approach made it easy to refine our idea, and the support we received from the community members was invaluable. Competing with so many talented participants made this a rewarding experience.”
Agarwal is also mentoring startups through his stint at the reality TV series Shark Tank India, where he made his debut during the third season earlier this year, becoming the youngest judge on the show. Last year, he announced an equity-free grant of Rs 5 lakh each to four startups from Ladakh in partnership with the Naropa Fellowship.
About OYO
OYO is a global platform that aims to empower entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 175K hotels and home storefronts in more than 35 countries including India, Europe, and Southeast Asia. For more information, visit www.oyorooms.com.
Monday, 16 September 2024, Bengaluru: With three days to go until the World CX Summit and Awards 2024 unfolds, the stage is set for India’s top-notch gathering of customer experience leaders and innovators. The event is hosted by Trescon will take place in Bengaluru on 19th September 2024 at the JW Marriott Hotel. This summit will bring together over 200+ C-level experts to explore the latest trends, share insights, and recognize excellence in customer experience.
The recent innovations in the AI space bring a whole new dimension to how businesses and CX leaders operate and interact with customers. From generative AI to utilizing advanced data analysis to interpreting customer feedback, these technologies are transforming the way organizations understand and engage with their audience. AI is truly reshaping existing business models and creating new avenues for competitive advantages.
The World CX Summit will provide a platform for CX experts and innovators to explore these next-gen solutions and their impact on customer experience. The event’s sessions will cover a range of topics, from enabling security-centric customer experiences and integrating data analytics to how brands are manoeuvring the digital revolution.
Among the notable speakers at the event are:
Vishal Bhatia, Chief Digital officer, Canara Bank
Pinkustar Borah, Director, Head of IT – Customer Experience, South Asia, Hindustan Unilever Limited
Kalyani Seshadri, Lead – Customer Experience, Tanishq
Satish Bettadapur, Vice President & Global Head for Customer Care Centers, HP
Lakshman Velayutham, CMO, Ujjivan Small Finance Bank
Fasih Abbas M, Senior Director & Head of Customer Success, Cashfree Payments
Komal Prasad B, Vice President – Occupier Care & Experiences, Prestige Group
RAMANATHAN RV, Co-founder and CEO, Hyperface
RAKHI RANA, COO, Drools
Attendees will also engage in thought-provoking panel discussions and keynote sessions designed to foster collaboration and inspire new approaches to customer experience management. The summit will become an essential forum for driving innovation, sharing best practices, and setting new benchmarks for excellence in customer experience.
“As Bengaluru hosts the World CX Summit and Awards 2024, it underscores the city’s role in shaping the future of customer experience. The summit serves as the premier platform for exploring the latest advancements and strategies in customer experience, setting new standards for excellence and innovation,” states Mithun Shetty, Vice-Chairman, Trescon.
Sharing the importance of the summit, Tanuj Diwan, Global Head- SurveySensum said, “CX has shifted from a ‘nice-to-have’ to a critical business priority in India. While AI and analytics are key, getting the basics right—like customer profiling and tech integrations—is essential to align CX teams and drive sustainable growth.”
Ramanathan RV, Co-founder and CEO of Hyperface said, “The intersection of technology and fintech is not only driving financial inclusion but also fundamentally reshaping customer expectations. The World CX Summit brings together the industry’s trailblazers, and we are excited to contribute to discussions that will shape embedded finance experiences.”
The event will also showcase the much-awaited World CX Awards, spotlighting and celebrating the pioneering achievements of the nation’s foremost CX professionals. This segment will honour outstanding leadership and exceptional contributions across various sectors, marking a prominent celebration for the ‘Top CX Leaders Awards’ and ‘Top Marketing Leaders’. Register to join those setting new benchmarks in customer experience and marketing innovation. Secure your place today!
About Trescon Trescon is a pioneering force in the global business events and services sector, driving the adoption of emerging technologies while promoting sustainability and inclusive leadership. With a deep understanding of the realities and requirements of the growth markets we operate in – we strive to deliver innovative and high-quality business platforms for our clients.
According to regulatory reports that were reviewed by a media house, Samsung, Xiaomi, and other smartphone manufacturers conspired with Amazon and Walmart’s Flipkart to debut goods only on the websites of the eCommerce businesses in India. This was done in violation of antitrust regulations.
Antitrust investigations carried out by the Competition Commission of India (CCI) have revealed that Amazon and Flipkart have violated local competition laws by giving preference to certain sellers, prioritizing certain listings, and steeply discounting products, thereby causing harm to other businesses. This information was reported by a well-known media outlet.
How Do Samsung, Xiaomi, Motorola, Realme, and Oneplus in Partnership With Flipkart and Amazon Violate the Norms?
In addition, the Competition Commission of India (CCI) stated in its 1,027-page report on Amazon that the Indian subsidiaries of five businesses, namely Samsung, Xiaomi, Motorola, Realme, and OnePlus, were “involved in the practice of exclusive” phone launches in “collusion” with Amazon and its affiliates, which is a violation of competition law.
In the case of Flipkart, a report by the Competition Commission of India (CCI) that was 1,696 pages long stated that the Indian units of Samsung, Xiaomi, Motorola, Vivo, Lenovo, and Realme engaged in comparable practices.
The involvement of smartphone manufacturers like as Samsung and Xiaomi in the lawsuit may provide them with additional challenges in terms of legal and regulatory compliance.
The concept of exclusivity in the economic world is repulsive. CCI’s additional director general G.V. Siva Prasad said in the Amazon and Flipkart investigations, in identical findings, that not only does it go against the principles of free and fair competition, but it also goes against the well-being of customers.
A particular media outlet noted in its special report that the CCI’s reports, which are dated August 9 and are not available to the public, have accused the smartphone companies of engaging in anticompetitive behavior.
What Next?
The CCI will examine any objections to its findings from Amazon, Flipkart, the retailer association, and the smartphone companies in the coming weeks. According to individuals familiar with the matter, the organization may impose fines and require the companies to modify their business practices.
The Indian retail industry has long held that online marketplaces like Amazon and Flipkart, as well as smartphone manufacturers, introduce new models of phones exclusively online. This has led to complaints from local businesses who claim they were unable to keep up with customer demand for new models and instead turned to online merchants.
Based on data analysis conducted by smartphone firms, both CCI reports concluded that exclusive releases had a significant impact on both online merchants and traditional brick-and-mortar stores that received mobile phones at a later period.
The Department for Promotion of Industry and Internal Trade (DPIIT), which is part of the Ministry of Commerce and Industry, is planning to establish a revolutionary digital platform to enhance India’s startup ecosystem. The Bharat Startup Knowledge Access Registry (BHASKAR) initiative is a platform that is designed to centralize, streamline, and enhance collaboration among key stakeholders within the entrepreneurial ecosystem. These stakeholders include startups, investors, mentors, service providers, and government bodies. The BHASKAR initiative is part of the Startup India program.
The Government of India has a mission to convert India into a global leader in innovation and entrepreneurship. This effort matches that ambition, and it reinforces the country’s commitment to the startup movement.
Calling this initiative a master stroke, Shreya Sharma, Founder, Rest The Case stated, “The launch of BHASKAR is a very innovative step to fuel the Startup Ecosystem further. As of now, India globally ranks as the 3rd largest ecosystem for startups. The sector has seen significant growth since COVID-19, and the wind hasn’t dropped yet!”
“India is home to almost 100+ unicorns, which in itself is proof of the rising popularity of Startups! However, red-tapism remains a challenge, and along with that, the easy-to-business also needs improvement. With the launch of BHASKAR, there is a chance for entrepreneurs to find easy guidance on a single platform. They will no longer have to go through the painstaking process of ‘trying to find the right thing’. The launch of such a platform, backed by the Government, is a promise that I feel all startups and budding entrepreneurs can look up to for growth and innovation” she added.
Similar thoughts were shared by Tanay Sharma, COO & Co- Founder CITTA, “I see the launch of the BHASKAR platform by DPIIT as a game-changer for the Indian startup ecosystem, especially in B2C sectors like ours. The beauty and wellness industry, particularly in baby care, requires constant innovation, research, and consumer-centric solutions. BHASKAR, with its focus on fostering collaboration, access to mentorship, and streamlined processes for startups, aligns perfectly with our growth objectives.”
“In the long term, BHASKAR is poised to empower startups by providing access to critical resources, mentorship, and funding, enabling us to scale faster and more efficiently. We are excited about the opportunities this platform creates, allowing us to grow while staying true to our core values of delivering safe, pure, and trusted solutions to our consumers,” he opined further.
Boosting Creativity with a Centralised Hub
India has swiftly become one of the most dynamic startup centres in the world. It is home to more than 1,46,000 companies that have been recognised by the DPIIT institution. Through the provision of an all-encompassing, one-stop digital platform that addresses the issues that are encountered by both investors and entrepreneurs, BHASKAR intends to capitalise on this potential. Through its role as a centralised register, BHASKAR will make it possible to gain unhindered access to a vast assortment of resources, tools, and information that will assist in fostering the entrepreneurial journey from the stage of ideation to the stage of execution.
Within the context of the startup ecosystem, BHASKAR is intended to cultivate an atmosphere that is conducive to the development of growth, networking, and collaboration. The platform will make it easier for stakeholders to connect with one another, improve search ability, and make it possible to uncover relevant opportunities and collaborations in a more efficient manner. This will be accomplished by offering personalised BHASKAR IDs to participants.
Product Highlights of BHASKAR
The creation of the largest digital register in the world for stakeholders within the startup ecosystem is the primary objective of the BHASKAR project. Several major elements will be offered by the platform in order to accomplish this goal.
The BHASKAR platform would facilitate smooth engagement between entrepreneurs, investors, mentors, and other stakeholders, hence facilitating networking and collaboration. This will allow for seamless interaction across different industries.
By unifying resources, the platform will give entrepreneurs with quick access to crucial tools and expertise, hence enabling faster decision-making and more efficient scaling. This will be accomplished by providing centralised access to resources.
The process of creating personalised identification will involve assigning a one-of-a-kind BHASKAR ID to each and every stakeholder. This will ensure that interactions and experiences throughout the platform are personalised and suited to the individual.
Users are able to readily identify relevant resources, collaborators, and opportunities by utilising strong search options, which ensures that decisions and actions are made more quickly.
BHASKAR will act as a vehicle for boosting India’s global reputation as a powerhouse for innovation, thereby making cross-border partnerships more accessible to both investors and startups. This will further India’s efforts to support its global brand.
Promoting the Growth of India’s Startup Community
In the continued efforts of the government to encourage innovation, business ownership, and the creation of new jobs, the introduction of BHASKAR represents a significant step forward. In order to facilitate collaboration, the sharing of ideas, and the acceleration of growth, it will function as a central hub where government organisations, investors, service providers, and startups can all come together.
Through the facilitation of easy access to knowledge and resources, BHASKAR will assist in unlocking the full potential of India’s startup ecosystem, hence boosting the country’s rise as a global leader in the field of entrepreneurship. The platform will play a crucial role in the development of an economy that is more economically robust, inclusive, and innovation-driven, thereby setting the groundwork for a successful future. The Government of India extends an invitation to all relevant parties to participate in this endeavour that would bring about transformation.
According to a statement released by the Ministry of Commerce and Industry on 14 September 2024, the minimum export price (MEP) criteria for basmati rice exports has been eliminated by the Union Government.
To increase the incomes of farmers, the decision has been made to permit the export of basmati rice, which is a GI-tagged type that is considered to be of the highest quality. In the announcement, it was emphasized that this decision was made in consideration of the sufficient availability of rice within the country as well as continued worries regarding trade.
“We greatly welcome the government’s decision to remove the MEP on Basmati rice. The timing of this strategic move coincided favorably with the imminent harvest of the new crop. With the MEP removed, Indian exporters now have the power to offer Basmati rice at far more competitive rates on a global scale, seemingly primed to drive a huge surge in export volumes. With new crop sales and export orders set to be finalised, this decision provides greater clarity for importers worldwide regarding India’s policy direction. Moreover, this change is expected to benefit farmers by boosting income and price realisations, as increased demand in the short term is likely due to the competitive pricing from Indian exporters,” stated Akshay Gupta, Head – Bulk Exports, KRBL Limited.
APEDA to Closely Monitor Export Contracts
To avoid basmati rice from being priced unreasonably and to guarantee that export procedures are transparent, the Agricultural and Processed Food Products Export Development Authority (APEDA) will rigorously supervise export contracts.
In August 2023, a temporary measure was implemented that established a floor price for basmati rice exports at USD 1,200 per metric tonne (MT). As a result of a limited supply within the country and rising costs for rice on the domestic market, this decision was made. It was also intended to avoid the misclassification of non-basmati rice as basmati during exports. This was done because the export of non-basmati white rice is restricted to satisfy domestic demand.
On the other hand, in October of 2023, the government decided to lower the floor price to USD 950 per MT after receiving comments from various trade associations and stakeholders.
Hiking Duty on Edible Oil to Increase Oil Seed Crop Demand
A post on the social media site “X” made by Shivraj Singh Chouhan, Minister of Agriculture and Farmers Welfare, declared that the government has decided to hike the basic duty on refined oil to 32.5 percent. This is one of the other measures that would affect farmers. As a result of this action, it is anticipated that the demand for mustard, sunflower, and groundnut crops will increase, which will cause farmers’ incomes to improve.
Farmers’ advancement is a priority of Prime Minister Narendra Modi’s government. Increasing the basic tariff on refined oil to 32.5% is something that has been decided upon. Mustard, sunflower, and peanut crops will see an increase in demand as a result of this. According to Chouhan’s statement mentioned in a media report, farmers would earn higher prices for these products, and the expansion of refineries in rural and small areas would also lead to an increase in employment prospects.
In addition, the government has increased the import duty on edible oils from 0% to 20%. Chouhan went on to say that the overall effective duty will amount to 27.5% if other components are taken into consideration during the calculation. A greater quantity of soybean meal, which will be shipped overseas, will be produced as a result of this decision. As Chouhan mentioned in his post on X, other industries that are associated with soy would also get benefits.
A top official from Tata Consultancy Services (TCS) has stated that the conglomerate is working along with Tata Electronics Pvt Ltd to achieve its goal of introducing India’s first chips that are created domestically by the year 2026, as reported by a media outlet,
The news article cited details provided by Sreenivasa Chakravarti, VP and head of TCS’s digital engineering division worldwide. Chakravarti said that TCS, a firm that focuses on semiconductor design and engineering, is involved in the chip manufacturing process at various stages, with Tata Electronics at the forefront. Additionally, Chakravarti brought attention to several additional shared services, such as software solutions and goods based on intellectual property (IP) for semiconductors.
At present, a significant number of companies are establishing operations in India to develop technologies and services for global markets. However, there is also a market for semiconductors in India. As a result, Chakravarti believes that the issue is to construct something for India from within India.
India Semiconductor Mission
As part of efforts to improve the semiconductor industry, the India Semiconductor Mission gave its approval in February for the establishment of three manufacturing facilities for semiconductors. There are two of these projects that are being developed by Tata Electronics as the principal company. The first of these is a greenfield chip manufacturing plant in Dholera, Gujarat, that will be constructed in conjunction with Taiwan’s Powerchip Semiconductor (PSMC) and will have an initial output capacity of 50,000 wafers per month. The plant will cost $11 billion. According to the reports, the second factory is located in Assam and is valued at $3.26 billion. Its primary focus is on chip assembly and testing.
The first chips to be manufactured at the Assam facility are expected to be made accessible by Tata Electronics by the end of 2025 or the beginning of 2026. The company intends to target businesses such as the automotive, electronics, power, consumer goods, and healthcare sectors.
First Indian Technology Services Company With Expertise in Semiconductor Engineering
TCS is the first Indian technology services company to create a robust capability in semiconductor engineering and services, according to Omkar Tanksale, a senior IT research analyst at Axis Securities. Globally, TCS has a substantial presence in the fields of semiconductor design, engineering, and software development for applications involving semiconductors.
Throughout the course of the year, Tata Electronics has been establishing collaborations with a wide variety of worldwide companies and nations in order to supply semiconductor chips.
Tesla has entered into a strategic agreement with Tata Electronics in April to acquire semiconductor processors for its global operations.
Additionally, a few days ago, Tata Electronics and Tokyo Electron Limited (TEL) inked a memorandum of understanding (MoU) with the purpose of establishing a semiconductor equipment infrastructure.
An Indian antitrust investigation has determined that U.S. eCommerce giant Amazon and Walmart’s Flipkart violated local competition laws by providing preferential treatment to specific sellers on their shopping websites, according to reports published by a reputable media outlet.
An investigation into Amazon and Flipkart was ordered by the Competition Commission of India (CCI) in the year 2020. The CCI was concerned that the two companies were reportedly giving preference to certain listings and were encouraging particular merchants with whom they had business connections.
What Exactly Do the Investigation Reports Reveal?
Investigators from the Competition Commission of India (CCI) concluded that Amazon and Flipkart had developed an environment in which preferred merchants appeared higher in search results, thereby displacing other vendors. The CCI investigators made this discovery in two distinct reports, each of which was around 1,696 pages long and submitted on 9 August.
According to both findings, which are not available to the public and are being published by a renowned media house for the very first time, each of the anti-competitive practices that were said to have occurred was investigated and confirmed to be genuine.
According to the two reports, “Ordinary sellers remained as mere database entries,” that is the conclusion that was reached for both businesses. Both businesses have maintained in the past that they have not committed any wrongdoing and that their operations are in accordance with the laws of India.
The report will now be reviewed by the two corporations, and any objections will be submitted to the CCI staff before any potential fines are decided upon.
It Is a Big Setback for Both the Firms
Smaller merchants in the country continue to criticise Amazon and Flipkart for their business practices. These retailers claim that their companies have suffered in recent years as a result of the deep discounts that are offered online. The findings of the inquiry are the latest setback for Amazon and Flipkart.
A formal complaint was lodged by the Delhi Vyapar Mahasangh, a branch of the largest trade organisation in India, the Confederation of All India Traders (CAIT), which speaks for 80 million merchants. While responding to this complaint, CCI launched a full scale investigation on both the firms. As a response to the reports, CAIT expressed its approval of the conclusions of the CCI probe and stated that it would review the reports and “escalate the matter” with the federal government.
The eCommerce market in India is anticipated to be worth between $57 and $60 billion in 2023, and it is expected to surpass $160 billion in value by 2028, according to projections provided by the consulting firm Bain. The biggest competitors in this sector are Amazon and Flipkart.
Amazon has been accused of engaging in “anticompetitive and unfair strategies to illegally maintain its monopoly power,” according to the Federal Trade Commission, who later filed a lawsuit against the corporation in the United States. Amazon has stated that the complaint filed by the FTC is illogical and would be detrimental to customers because it would result in increased pricing and delayed delivery times.
To meet the heightened demand that occurs throughout the holiday season, Amazon India announced on 12 September 2024 that it has established more than 110,000 seasonal job opportunities across its operational network. According to a statement released by the corporation, these opportunities include both direct and indirect employment prospects across the country, especially in cities such as Mumbai, Delhi, Pune, Bangalore, Hyderabad, Kolkata, Lucknow, Chennai etc.
A total of over 1.1 lakh new employees have been brought on board by the company to enhance its fulfillment and logistics network and to guarantee that it will be able to meet the increasing demand without any problems. While talking with the media, Abhinav Singh, Vice President of Operations at Amazon India, revealed that a lot of these fellow workers will continue to work for Amazon even after the holiday season is over, and many others return to work for Amazon year after year. According to the statement, the vast majority of these newly hired employees have already been brought on board.
Empowering Women and Special People
Amazon also claimed that it has engaged thousands of women to work as associates and also it has hired close to 1900 disabled people to work inside its existing network. In a statement, the Union Minister of Labour and Employment and Youth Affairs and Sports, Mansukh Mandaviya, expressed his admiration for the efforts that Amazon and other corporations are making to create employment possibilities that are inclusive while also ensuring the welfare of their employees.
“It is heartening to see that the company is prioritising the well-being of its employees by implementing programmes that give priority to their safety, healthcare, and educational support,” stated Mandaviya.
“Additionally, it is great to note that the company is hiring a considerable number of women and people with disabilities for these positions,” he added further.
Amazon India Focuses on Associate Wellbeing
Amazon India has instituted a variety of initiatives to support the well-being of its associates, including the recently launched Project Ashray, which provides dedicated resting points for delivery associates in Delhi NCR, Mumbai, and Bengaluru.
Moreover, Amazon has specific welfare programmes such as Sushruta, which provides truck drivers with comprehensive healthcare support through early detection, diagnosis, and health camps across key regions, and the Pratidhi Scholarship, which offers scholarships to associates’ children for quality education, amongst other initiatives of a similar nature.
Network of Amazon India
Amazon India has established a robust fulfilment and shipping network that spans the whole country, which is assisting more than 1.4 million merchants in meeting the needs of customers located all across the country.
The company has fulfilment centres located in fifteen different states, which provide 43 million cubic feet of storage space for seller inventory. Additionally, the company has sortation centres located in nineteen different states, and it has a network of nearly two thousand delivery stations that are operated by Amazon and partner companies.
Sayantan Mondal
