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Daily Digest Of Tech Policy News And Updates (May 7, 2021)
7 hours ago
Bringing you quick updates on the tech space, policy-making and digital rights from India and across the globe.
Zomato in talks to invest in Grofers
Food delivery app Zomato, which has just filed for an initial public offering, is in talks to invest around $100 million in Grofers, reported the Economic Times. Zomato has ambitions in the grocery segment and wants to partner with an existing company rather than build something of its own, a source told the publication. SoftBank Vision Fund (SVF), which is the largest shareholder in Grofers with an about 50% stake, was earlier steering conversations around its initial public offering via a special purpose acquisition company (SPAC).
India: Mumbai COVID lockdown spells trouble for businesses
India is among the countries hardest hit by in the second wave of the COVID-19 pandemic not only in terms of human life, but also economically.
Small businesss in Mumbai are facing bankruptcy during the lockdown
Rakesh Kumar Nayal runs a grocery store in the suburbs of Mumbai, a shop the 55-year-old has been running for the last 18 years. The business is down by 25%, he said. Only those people who have our cellphone numbers place orders with us, others are using online services like Grofers and D-mart. I have five employees and four hours of operations do not justify their salary or our expenses. Sometimes the police also harasses us to shut the shop. We bring our shutters down and do our business in this congested and airless shop. It is very difficult.
India: Mumbai lockdown spells trouble for businesses
India is among the countries hardest hit by in the second year of the COVID-19 pandemic, not only in terms of human life, but also economically.
Small businesss in Mumbai are facing bankruptcy during the lockdown
Rakesh Kumar Nayal runs a grocery store in the suburbs of Mumbai, a shop the 55-year-old has been running for the last 18 years. The business is down by 25%, he said. Only those people who have our cellphone numbers place orders with us, others are using online services like Grofers and D-mart. I have five employees and four hours of operations do not justify their salary or our expenses. Sometimes the police also harasses us to shut the shop. We bring our shutters down and do our business in this congested and airless shop. It is very difficult.
Read more about Top restaurant associations seek liquidity support amid Covid-19 crisis on Business Standard. Since March of 2020, the Rs 4.25-trillion domestic restaurant industry has had to contend with lockdowns, curbs, and restrictions on business hours