Walmart’s deal with Flipkart to acquire 77 per cent stake in the Indian e-commerce website is facing opposition from traders, while industry body ASSOCHAM has termed it as a success of Indian start-ups.
Nike continues to oust its top-level executives, with reports that the US sportswear behemoth has let go of five more managers, raising the total to eleven, amid its inquiry into sexual assault allegations.
India’s gold imports fell for a fourth straight month in April from a year ago to 57 tonnes on subdued demand after local prices jumped to the highest level in nearly 21 months, data from GFMS and bank dealers showed.
Bestseller is dipping more than a toe into the biotech waters and has just unveiled an ambitious joint venture with specialist company Pond. Bestseller parent Heartland has linked with Pond via its investment firm.
The Flipkart-Walmart deal which is expect to be completed over the next few days has now got the traders worried, they have sought the intervention of Commerce & Industry Minister Suresh Prabhu in the matter.
The ₹6,000 crore special package announced in 2016 by the Indian government for the textiles and apparel sector has not only boosted exports but has also helped in increasing investments, a survey has found.
The Supreme Court refused to grant stay on a Delhi High Court ruling that Monsanto cannot claim patents on its GM cotton seeds, but the world’s largest seed maker said it is “confident on the merits” of its case.
India’s denim fabric industry will continue to face margin pressures during fiscal 2018-19 due to oversupply, with 15-20 per cent of the total capacity remaining underutilised, according to estimates by Ind-Ra.