A $20 billion fund raising spree may take India’s Reliance closer to its dream of becoming a digital giant, further threatening the ambitious plans U.S. companies like Amazon, Walmart and Zoom have for India.
Multi-brand fast moving consumer goods and groceries retailer BigBasket reported crossing an annualised gross sale run-rate of $1 billion (Rs 6,652.75 crore) for first time in May after business boomed during lockdown.
Beijing-based ByteDance, the privately owned operator of short video app TikTok, booked around 40 billion yuan (£4.4 billion) in revenue for the January-March quarter, said two people with knowledge of the matter.
Alibaba's 6.18 Mid-Year Shopping Festival (running on Tmall and Taobao) has seen a luxury surge. Almost double the number of luxury brands are participating compared to the last big event, 2019’s Singles Day in November
Reliance Industries Ltd has launched an online grocery service, JioMart, the head of its grocery retail business said, in a move aimed at rivalling Amazon's local unit and Walmart's Flipkart in the huge Indian market.