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India e-commerce norms: Amazon may have to sell Cloudtail, Appario stakes
Saturday, December 29, 2018, 7:44 AM
The norms for FDI in e-commerce put out on Wednesday bars e-commerce firms from selling products of entities in which they have an equity stake. This may effectively lead to Amazon offloading its investment in Cloudtail and Appario, which forms majority of its sales. Most large e-commerce firms previously exploited loopholes in existing FDI rules and created complex structures to get around the norms.
Gujarat is the best place for startups
Thursday, December 20, 2018, 6:28 PM
Gujarat topped the first ever startup ranking of states by the Department of Industrial Policy and Promotion, ahead of states such as Karnataka, known for their startup culture. A total of 27 states and three union territories participated in the exercise. The DIPP consulted stakeholders of the startup ecosystem and came up with seven key reform areas as the basis of the ranking.
Swiggy raises $1 billion in largest funding round till date
Thursday, December 20, 2018, 6:20 PM
Swiggy, which entered India's unicorn club earlier this year, has raised $1 billion in fresh capital from existing and new investors such as Naspers Ltd and Tencent Holdings Ltd, marking what is by far the biggest ever funding round in the country's booming food-tech sector. Of the $1 billion, $800 million will be primary capital or fresh funds.
