Synopsis
The cash infusion is part of a $1.2 billion Tata-BigBasket deal, which will see the conglomerate acquire 60% stake in the online grocery firm. Tata Group is also close to finalising a $200-250 million investment in e-pharmacy 1mg.
ETtech
Tata Group is taking the acquisitions route to boost its super app plan. (Illustration: Rahul Awasthi/ETtech)
Mumbai | Bengaluru: The Tata Group has finalised a $200-250 million primary cash infusion in BigBasket as part of its larger deal to acquire a majority stake in India’s biggest online grocery company, said people with knowledge of the matter. The group is also said to be closing in on a majority stake in online pharmacy 1mg.
Industry has to closely consider the EU Single Market for Digital Services proposal, issued in December last year, and continue its fight on derogations and extensions on the upcoming microplastics restriction under REACH (Getty Images) The European Green Deal will be the biggest policy challenge for the cosmetics and personal care industry in 2021, but industry must also focus on upcoming change around microplastics and digital services, says the director-general of Cosmetics Europe.
Industry will continue its fight to be recognised as ‘essential’ to consumer lives in the coming year, as European Green Deal strategies come into force in 2021 – notably the Chemicals Strategy for Sustainability which held essentiality as one of its guiding pillars.
India planning tighter FDI rules for e-commerce sector
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Last Updated: Jan 20, 2021, 12:54 AM IST
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Synopsis
FDI Rules for E-Commerce: DPIIT may issue a clarification through a Press Note, expressly prohibiting e-commerce platforms such as Amazon India and Walmart-Flipkart from holding stake in a seller, directly or indirectly.
ETtech
A rework of India s FDI rules for e-commerce forced Amazon and Flipkart to rework their business structures and soured relations between India and the US.
New Delhi: India is likely to tighten the foreign direct investment (FDI) rules for e-commerce to check companies set up by the online marketplaces from trading on their own platform.