Technology giants Facebook Inc., Amazon.com Inc. and Google and credit-card providers Visa Inc. and Mastercard Inc. are among those vying for unprecedented access to India’s burgeoning digital retail payments market. The companies are part of four consortia preparing to apply for licenses to operate retail payments and settlement systems in the country, people familiar with the matter said. More companies could band together before a March 31 application deadline. In a market where cash is still king, digital payments are quickly gaining ground as India’s 1.3 billion people are starting to embrace online shopping and services such as online gaming and streaming. With Credit Suisse Group AG predicting $1 trillion in online payments in India in 2023, the companies chosen to enable such transactions stand to reap lucrative commissions.
News headlines for March 3, 2021: On Wednesday, the Health Minister lauded PM Modi for making the COVID-19 vaccine available 24x7. Also, Bharat Biotech announced Phase 3 results of Covaxin.
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Amazon.com Inc is to begin making devices in India for the first time, joining a flock of technology companies setting up manufacturing operations in the country.
The Seattle-based e-commerce giant would start making the devices via a subsidiary of its manufacturing partner, Hon Hai Precision Industry Co (鴻海精密) known as Foxconn Technology Group (富士康科技集團) outside of Taiwan with production starting later this year in its facilities outside Chennai, the company said in a blog post yesterday.
“The device manufacturing program will be able to produce hundreds of thousands of Fire TV Stick devices every year, catering to the demands of
A legal spat between Amazon.com Inc. and its Indian partner that started with an arbitration verdict in Singapore has got fiercer in New Delhi courtrooms. And neither side is ready to back off.