Connect with us

News

Ecommerce Giants Flipkart And Amazon Violating FDI Rules – Indian Cellular Association

Published

on

Indian and international ecommerce giants like Flipkart and Amazon have been allegedly violating Foreign Direct Investment (FDI) rules according to handset maker’s lobby group Indian Cellular Association (ICA.)

According to reports, the lobby group representatives have also met with Commerce Minister Suresh Prabhu to take action against Flipkart and Amazon. ICA alleges the ecommerce platforms offer direct and indirect discounts on mobile phones and other products circumventing rules under Press Note 3 on FDI. Representatives who met with Suresh Prabhu recently explained the ecommerce companies were holding inventory and influencing the prices of electronic goods, thereby, eroding offline retailers’ revenue and putting at risk the jobs of nearly 60 million people.

In a letter addressed to Mr. Prabhu, ICA added, “In the view of the alarming situation that the industry and India are facing, we request urgent and severe action against Amazon India and Flipkart for rampant violations of the conditions of Press Note 3 by both, directly and indirectly, influencing the sale price of mobile phones and other goods.

The lobby group, according to a report by ET Now, is seeking necessary amendments in Press Note 3 and other linked laws to ensure strict action against the violators under the Prevention of Money Laundering Act. At present, the ICA represents several mobile makers in India, including Micromax, Apple, Nokia, Vivo, Lava, Lenovo and Motorola. ICA further added the ecommerce platforms involve various intermediaries and support entities in the chain to camouflage both discounts and losses. “With these intermediaries, both Amazon India and Flipkart are able to pass discounts, without booking the same in their own books. The breakdown of expenditure in various deals keeps changing to make detection difficult,” ICA added.

Under Press Note 3, 100% FI in India is only allowed when companies are engaged in business to business sales and not in business to consumer transactions. Therefore, ecommerce firms like Amazon and Flipkart can only function as a marketplace to connect buyers and sellers, and not influence prices.

This is not the first time ecommerce platforms have been blamed for offering heavy discounts. However, Amazon denied all allegations and a spokesperson said, “Amazon remains committed to comply and is in compliance with all applicable Indian laws and regulations. The prices for products on the Amazon.in marketplace are completely determined by the sellers.” Flipkart is yet to respond to these allegations.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Startup News

Zomato Founder Seeks Chief Of Staff: No Salary, Pay ₹20 Lakh Instead!

Published

on

Zomato Founder Seeks Chief Of Staff: No Salary, Pay ₹20 Lakh Instead!

Deepinder Goyal, the CEO of Zomato, has stirred a heated debate online with his unconventional job posting for the role of Chief of Staff. In a bold move, Goyal announced that the selected candidate would not receive a salary for the first year. Instead, they would need to pay ₹20 lakh for the opportunity, a sum that would be donated entirely to Zomato’s non-profit arm, Feeding India.

The Job Posting

Sharing the details on his X (formerly Twitter) account, Goyal outlined the qualities he seeks in the candidate:

  • Hunger for success
  • Common sense and empathy
  • A lack of prior conditioning or baggage
  • Groundedness and a zero-entitlement mindset
  • Excellent communication skills
  • A learning-oriented approach

The post emphasized that the role requires someone willing to “do the right thing, even at the cost of displeasing others.”

Compensation Structure

For the second year, the company promises a competitive salary exceeding ₹50 lakh, but this will only be offered after the completion of the unpaid first year. This structure is designed to attract candidates who are genuinely committed to personal and professional growth rather than those motivated solely by financial incentives.

Divided Reactions Online

The unconventional terms have sparked a mixed reaction online. While some have criticized the move for its apparent exclusivity, others have praised Goyal’s approach to identifying truly dedicated talent.

Criticism

Several users slammed the job posting for its apparent elitism, arguing that the ₹20 lakh fee would restrict the opportunity to wealthier candidates. Comments included:

  • “As if exploiting gig workers wasn’t enough, now they target the middle class. This is ridiculous.”
  • “This creates an artificial barrier, limiting the role to rich candidates with privilege.”
  • “Hire me as your PR manager; I’d save you from such tweets,” joked one user.

Critics argue that such a financial requirement alienates talented individuals who may not have the means to afford this upfront cost, thereby narrowing the pool of potential applicants.

Praise

Conversely, some viewed the posting as a strategic move to find highly motivated and financially independent individuals. Supportive comments included:

  • “This is a masterstroke to filter talent. It’s not just about the money but about finding someone who understands risk and has skin in the game.”
  • “By linking the fee to charity, it adds a touch of purpose and filters for those who align with Zomato’s values.”

Proponents argue that this unique approach could attract candidates who are genuinely passionate about making an impact and are willing to invest in their future.

The Vision Behind the Role

Goyal defended his decision by explaining that the ₹20 lakh contribution would directly support Feeding India, aligning with Zomato’s mission to give back to society. The role is intended for someone passionate about learning and willing to invest in both their professional development and social causes.

“We believe that people who apply for this role should do it for the learning opportunity it presents, rather than for a fancy well-paying job,” Goyal stated.

A New Hiring Trend or Misstep?

The announcement has undoubtedly sparked conversation about innovative hiring practices and their potential pitfalls. Whether this approach becomes a precedent in corporate hiring or fades as a one-off remains to be seen.

Implications for Future Hiring Practices

This job offer raises important questions about accessibility in high-level positions within companies. As organizations look for unique ways to attract talent, they must balance innovative approaches with inclusivity to ensure they do not inadvertently exclude capable candidates from diverse backgrounds.

Conclusion

For now, the spotlight is firmly on Zomato—and on the candidate who accepts this bold challenge. As discussions continue around Goyal’s unconventional job offer, it remains to be seen how this will impact Zomato’s hiring practices and whether other companies will follow suit with similar approaches. The outcome may redefine how organizations perceive talent acquisition in an increasingly competitive landscape.

Continue Reading

Latest News

WhatsApp Beta Introduces Group Mentions: A Game-Changer for Group Communication!

Published

on

WhatsApp Beta Introduces Group Mentions: A Game-Changer for Group Communication!

WhatsApp, the Meta-owned messaging platform, is enhancing group communication with a new feature that simplifies how users share updates in group chats. The app now allows users to mention entire groups in their status updates, streamlining the process of notifying multiple people simultaneously.

What’s New?

According to WABetaInfo, the group mention feature is being rolled out to beta testers on Android. This update enables users to tag an entire group in their status updates, ensuring all group members receive a notification and a direct message in their individual chats. This eliminates the hassle of manually notifying each member, making it easier to share critical updates or announcements across large groups.

Previous Limitations

Previously, WhatsApp restricted mentions to a maximum of five contacts per status, which posed challenges for users managing large groups. With this update, that restriction is lifted, allowing mentions of entire groups and enhancing communication efficiency.

How It Works

Group Mentions in Status

  • Tagging Groups: Users can now tag a group in their status update, ensuring everyone in the group is notified. This feature is particularly useful for sharing important events, updates, or news without the risk of missing out on anyone.
  • Universal Notifications: Once a group is mentioned, all participants—including those who have muted the group—will receive a notification and can access the status. This guarantees that critical updates reach every member.

Privacy Simplification

The feature simplifies privacy settings by eliminating the need to adjust them for specific contacts. When a group is mentioned, all members automatically gain access to the status update, making communication more seamless and inclusive.

Custom Lists for Direct Messages

In addition to group mentions, WhatsApp is introducing custom lists for organizing direct messages (DMs). This feature allows users to create personalized categories for their contacts, helping declutter their inbox and focus on important conversations.

Benefits of Custom Lists

  • Organized Chats: Users can group contacts into specific categories such as work, family, or friends, ensuring they can quickly locate and prioritize messages without getting overwhelmed by less relevant chats.
  • Enhanced Focus: By categorizing conversations, users can streamline their communication and improve productivity.

Why This Matters

The introduction of group mention and custom list features is designed to improve user experience, making WhatsApp an even more effective tool for both personal and professional communication.

Time-Saving Benefits

  • Efficient Communication: Group mentions save time by allowing users to notify all members about key events or announcements with a single action.
  • Improved Coordination: These features facilitate better coordination within large groups by ensuring that everyone stays informed simultaneously.

Global Rollout on the Horizon

Currently available for beta testers on Android, WhatsApp plans to roll out these features globally soon. This commitment reflects WhatsApp’s ongoing effort to adapt its platform to meet the evolving needs of its users.

Anticipated Impact

As these features become widely available, they are expected to enhance user engagement and satisfaction by providing more efficient ways to communicate within groups. The ability to mention entire groups directly aligns with current trends in digital communication where quick and effective information sharing is paramount.

Conclusion

With the introduction of group mentions and custom lists, WhatsApp continues to innovate and enhance its platform. These updates not only streamline communication but also reflect WhatsApp’s commitment to adapting its features based on user feedback. As beta testers explore these functionalities now, broader accessibility will soon follow, making it easier than ever for users to stay connected and organized within their communities. Keep an eye out for these exciting enhancements as they roll out globally!

Continue Reading

Startup News

Baanhem Ventures Secures ₹3.3 Crore from Kumar Vembu’s Mudhal Partners!

Published

on

Baanhem Ventures Secures ₹3.3 Crore from Kumar Vembu’s Mudhal Partners!

Baanhem Ventures, the creators of the business reality TV show Startup Thamizha, has successfully raised ₹3.3 crore in funding from Kumar Vembu, founder of GoFrugal Technologies, through his newly launched investment firm, Mudhal Partners. This funding marks a significant milestone in Baanhem Ventures’ mission to empower first-generation entrepreneurs in Tamil Nadu.

Championing Tamil Nadu’s Entrepreneurial Ecosystem

Founded in 2024 by Hemachandran L and Balachandar R, Baanhem Ventures aims to create opportunities for Tamil Nadu’s budding entrepreneurs to become the next generation of innovators and job creators. With backing from Kumar Vembu, the venture seeks to drive social and economic growth through strategic financial and mentorship initiatives.

The company’s flagship show, Startup Thamizha, has already facilitated over ₹200 crore in investment commitments for startups across three seasons. The program showcases seed and growth-stage entrepreneurs from Tamil Nadu, aiming to inspire high-net-worth individuals (HNIs) to invest in local startups while nurturing an entrepreneurial culture in the state.

Building a Bridge for Aspiring Entrepreneurs

“Financial support is critical for first-generation entrepreneurs to start businesses and make an impact. Our mission at Baanhem is to be a dependable resource for these entrepreneurs, helping them transform their ideas into successful businesses,” said Hemachandran L and Balachandar R, Co-founders of Baanhem Ventures. Their commitment underscores the importance of accessible funding and mentorship in fostering a vibrant startup ecosystem.

Through Startup Thamizha, Baanhem Ventures offers entrepreneurs mentorship and funding opportunities, contributing significantly to Tamil Nadu’s economic growth. The show is set to air on a prominent general entertainment channel, highlighting innovative startups and encouraging aspiring entrepreneurs to pursue their dreams.

The Role of Mudhal Partners

Kumar Vembu, through Mudhal Partners, is dedicated to fostering first-generation entrepreneurs from Tamil Nadu. “I was impressed by Baanhem’s vision to develop native entrepreneurs using a scientific approach to produce successful startups. This is why I became the first to join this novel initiative,” Vembu stated.

The name “Mudhal Partners,” meaning “First Partners” in Tamil, reflects the firm’s vision to be the initial supporters of groundbreaking entrepreneurial ventures in Tamil Nadu.

Expanding the Vision

In addition to the funding, Baanhem Ventures is actively raising funds from venture capital firms to create a startup-investment bridge platform. This platform will connect emerging startups with top investors across India, providing access to crucial resources for scaling their businesses.

With this latest funding and the launch of Startup Thamizha, Baanhem Ventures is set to play a pivotal role in shaping Tamil Nadu’s entrepreneurial future, driving innovation, and fostering economic growth.

Conclusion

The successful funding round led by Kumar Vembu’s Mudhal Partners signifies a promising step for Baanhem Ventures as it embarks on its mission to empower first-generation entrepreneurs in Tamil Nadu. By leveraging strategic partnerships and innovative platforms like Startup Thamizha, Baanhem Ventures aims not only to enhance local entrepreneurship but also contribute significantly to the broader economic landscape of the region. As they continue to nurture talent and facilitate investment opportunities, Baanhem Ventures is poised to make a lasting impact on Tamil Nadu’s startup ecosystem.

Continue Reading
Advertisement

Recent Posts

Advertisement