E-comm

Visa is introducing new tools to enhance payment experiences, including "payment passkeys" for biometric authentication, aiming to reduce checkout times to 20 seconds. The company is also implementing flexible credentials for smoother cross-border transactions and launching A2A Protect, powered by AI, to mitigate fraud in real-time payments by analyzing transaction patterns and risk levels.

The Competition Commission of India (CCI) is urged to suspend Flipkart and Amazon operations due to alleged predatory pricing and heavy discounts causing grey market issues. CAIT and AIMRA also call for action against Chinese brands like OnePlus, iQOO, and Poco for colluding with e-commerce players, resulting in tax evasion and losses for mainline retailers.

The NSE Nifty index closed 11.66 points up at 24823.15

The NSE Nifty index closed 11.66 points up at 24823.15

The NSE Nifty index was trading 4.85 points up at 24816.35

The NSE Nifty index closed 71.36 points up at 24770.2

The NSE Nifty index closed 71.36 points up at 24770.2

Sunil D'Souza of Tata Consumer says today's consumer who is coming of age is the consumer who is born in a liberalised India. They have seen an India which is confident, growing with an accelerating GDP. So, these consumers are very confident of going out and spending. It is not only premiumisation, the consumer will move to value also.

The survey assumes significance given that the government is considering making it mandatory for e-commerce companies to comply with quality norms for consumer reviews after a voluntary push failed to effectively curb fake reviews.

The Indian government's Department of Commerce (DGFT) is collaborating with the Reserve Bank of India (RBI) and other ministries to promote exports through e-commerce. The DGFT is working with departments like revenue, post, MSME, DPIIT, and the RBI to facilitate exports through e-commerce. The new Foreign Trade Policy 2023 has raised the value limit of e-commerce exports through couriers from Rs 5 lakh to Rs 10 lakh per shipment.

The step will help SME sectors take advantage of government schemes, further pushing e-commerce exports and boosting overall export growth from the country to achieve the target of USD 1 trillion merchandise exports by 2030.

Minister of state for commerce and industry Som Parkash said in a written reply to the Lok Sabha that a draft e-commerce policy was placed in public domain on February 23, 2019 for public consultations.

The NSE Nifty index was trading 9.4 points down at 19722.4

According to the PNB website, starting next month, the bank will change its debit card charges for decline in transactions due to insufficient balance at a PoS machine and eComm transactions.

Since Snapdeal has exited certain categories, the customer numbers and traffic are lower, but the platform is seeing 75 per cent of business from repeat customers, demonstrating buyer stickiness. On whether competition with deep pockets puts Snapdeal at a certain disadvantage, he said, "No, because the market is large and so there will be people looking for honest, good pricing with good control on quality. They will discover and keep coming back to us".

The Tata Group has set up a separate core team of specialists within Tata Digital to strengthen financials and drive the push towards profitability.

Highlighting the "huge export potential" of the one district one product (ODOP) scheme, ready-made garments, gems and jewellery and over-the-counter products, Director General Foreign Trade Santosh Kumar Sarangi said an outreach programme will be rolled out this year to impart training on how to onboard e-commerce platforms and display and market products.

With Global business-to-consumer (B2C) e-commerce exports estimated to grow from USD 800 billion to USD 8 trillion by 2030, India's strengths in high-demand customized products, expanding seller base, and higher profit margins per unit of export place it in a prime position to benefit from this trend.

The NSE Nifty index closed 0.25 points down at 18118.3