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Update 24-07-2021

Karnataka HC junks appellant plea, Flipkart & Amazon to halt CCI Probe

24th July 2021.Mumbai:

Karnataka HC Div Bench comprising Justice Satish Chandra Sharma and Justice Nataraj Rangaswamy on Friday junked an appeal by Flipkart and Amazon India to stall a probe by the country's competition watchdog, dealing a blow to the two ecommerce platforms. It comes on the back of appellants Walmart-owned Flipkart & Amazon India appealed regulatory body to reverse/ overturn ruling setting the context for the Competition Commission of India (CCI) to probe/ investigate the case in question.

HC observes unequivocally,"Ecommerce firms should not feel shy of the probe if they haven't violated any antitrust laws & moreover bench in uncertain terms stressed this appeal is devoid of any merits and substance".

CCI orders probe against Amazon, Flipkart In Jan 20 serious ALLEGATIONS:

Deep discounting, preferential treatment to certain vendors etc

Watch: https://www.youtube.com/watch?v=-jofWm45yXo

Etailers like always maintained, "We respect the judgement passed by the H'ble HC and we will give a serious consideration & comprehensively review unfolding development it in detail to determine next steps, and remain in full compliance with Indian laws & will do spiritedly everything to be always compliant".

The Competition Commission of India (CCI) celebrated its Annual Day on 20th May, 2019 which marks the notification of the substantive enforcement provisions of the Competition Act, 2002.

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3. Industry associations seek revisions in proposed e-commerce rules

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5. Fabindia,Tanishq,PP Jewellers,Shoppers Stop on ‘Retail-Expansion Spree’ as economy revives

Likely Scenario

Etailers likely to challenge order at SC as story is still unfolding.

Soch Apparels witnesses strong online growth amid COVID-19 crisis

Biba, launches store in Delhi introducing ‘Easy Stitch’ range

Lux brand Falguni Shane Peacock lines up three ‘trunk shows’ in the US

Update 24-07-2021

Karnataka HC junks appellant plea, Flipkart & Amazon to halt CCI Probe

RIL-FRL deal: NCLT reserves order on Reliance Retail's plea seeking shareholders consent

21st July 2021,Mumbai:

On 21st July, the National Company Law Tribunal (NCLT) reserves its order in the plea filed by (RIL) Retail Retail seeking to conduct shareholders and creditors meetings to get nod and approval for the proposed merger with FRL.

(NCLT) bench asked if the lenders to FRL were on board with the whole scheme

Drive envisages a merger of Kishore Biyani owned FRL into(RIL) Reliance Retail Ventures Ltd (RRVL) & Reliance Retail Fashion Lifestyle Limited (RRFLL).

The deal is a business consideration in a Rs 24,713 crore deal.

Watch: https://www.youtube.com/watch?v=BVMVGbPYXXU

Amazon, Future Retail Fight: Senior Counsel Says Restraining Future Retail-Reliance Deal Will Lead To Job

Draft E-Commerce: Feedback deadline July 21

Government extends date for consultative feedback on proposed e-commerce draft.

This is the outcome of repeated considerations expressed by lead e-tailers likes of Amazon, Flipkart & Tata Group, the central government has extended the deadline to July 21 for suggestions/ consultations on proposed adjustments for Indian e-commerce.

It may be recalled unique/ original timeline was July 6th and the draft was made public on June 21th,2021.

Sticky point:

Exhaustive changes been proposed are uncomforting to e-commerce Cos.

Watch: https://www.youtube.com/watch?v=zX6wJrrFrTw

Industry chambers View:

CII, ASSOCHAM ,FICCI & IAMAI RAISE CONCERN AROUND 'RELATED-PARTY CLAUSE'.

Consumer affairs ministry: Draws attention that proposed rules deal with 'unfair' trade practices that hurts customers.

“The committee set up to look into the state of affairs comprehensively, therefore, recommended that course correction to mitigate questionable tactics including manipulation of algorithms, influential product reviews & transparent rating mechanism must be created so that the interest of consumer is not hurt or compromised at any cost.”

Update 06-07-2021

Draft E-Commerce: Feedback deadline July 21

Records Q1FY22 Exports buoy industry confidence

After clocking impressive record $95bn exports in Q1FY22 government is in buoyant mood of consolidating the run rate so as not to lose onto the sustainable gains.

Proactively commerce and industry minister Piyush Goyal recently exhorted Exporters community to set industry a target before them to achieve 400$ Bn. Echoing the same confidence new incumbent FIEO, President Dr A Sakthivel underlined the optimism that it's quite achievable.

Watch https://www.youtube.com/watch?v=BzFxtTPQSbQ

Measure:

Easier SEZs rules

Fast tracking refund taxes & levies to Exporters

It is already work in progress as Commerce Secretary, B V R Subramanyam is already in continuous dialogue with industry to further rationalise & simplify procedures.

Also there's a near unanimity on the issue that export should not be burdened by local taxes. The guiding principle remains is we should be exporting goods and services, not taxes...and nobody does it.

H'ble Union Minister Piyush Goyal maintains that the Indian economy is well on the path to recovery

Update 03-07-2021

Records Q1FY22 Exports buoy industry confidence

Reliance Retail dials in 'Just Dial'

16th July 2021,Mumbai:

Reliance Retail buys controlling stake in 25-year-old 'Just Dial' search engine platform.

This foray helps Reliance decent into 'Local Search & Discovery Services Space' with the objective of sharpening its e-commerce play.

Reliance is the largest/ biggest retailer in the Indian market & is shaping its portfolio through spate of acquisitions (M&A), aggressive store expansion & openings.

The bigger underlying overarching strategy is to deepen its omni-channel capabilities by consistently building muscular power in the given landscape.

RIL M&A in recent times: Netmeds, Hamleys, Urban Ladder, Zivame

How it goes

Reliance Retail will acquire 25.33% stake via preferential allotment at Rs 1,022.25 a share, another 15.62% from Just Dial founder V S S Mani. It will later make an open offer for 26% as per Sebi rules

What value 'Just Dial' brings on the table

30 million listings of enterprises across Web, App & Voice platforms

Way forward

JD Founder, Mani to continue as CEO leading it thru next phase of growth.

Justdial Success Story | Local Search Engine | Business Model

Traders & Retailers to be beneficiaries from MSME Schemes

BREAKTHROUGH ANNOUNCEMENT for 2.5 crore retail, wholesale traders; to be brought under the MSME scope, turn beneficiary observes RBI, ANNOUNCES proudly Nitin Gadkari, Ministry of Micro, Small & Medium Enterprises (M/o MSME).

The move aims in a targeted manner that this inclusiveness shall help this uncovered trade segment get much needed benefit of priority sector lending under the Reserve Bank of India (RBI) notified guidelines.

Precursor to MSME new notification: Govt revisited turnover limits last year.

Outcome:

Centre accords much needed MSME status to retailers and wholesale traders. Getting term loans from MSME schemes besides conventional lenders a reality now.

As per Kumar Rajagopalan, CEO Retailers Association of India (RAI),"Move will help retail sector get formalised"

Traders' associations hailed the decision, said Praveen Khandelwal, secretary general, Confederation of All India Traders (CAIT).

Concern:

“But, the concern is how broad based will the scope/ ambit be

Will this be covering those retailers, wholesaler & traders who already have access to banking finance and still be eligible & entitled to all the incremental benefits,”

Inclusiveness for Wholesalers & Retailers a Path 'Breaking Move'

Update 03-07-2021

Traders & Retailers to be beneficiaries from MSME Schemes

The deception of green-washing in fast fashion

Irony of the day is that rather than truly going green, certain brands are taking the green-washing route instead & get into unethical practices to be successful in a hurry. As sustainability becomes more & more important to consumers, brands must invest in authentic, genuine supply chain alignment and branch reform, to manage expectations & her perception. As getting into the required processes & practices such as Certifications can be quite expensive to get, so smaller brands are not always able to get into all that and prefer to bypass all this and indulge in malpractices.

The term ‘green-washing’ was coined by environmentalist Jay Westervelt in 1986

Green-washing in fashion space is on the rise and is quite rampant. Sustainable, eco-friendly, natural and green are commonly abused terms

Advisory: Need to question, How genuine are the product claims!

Watch: https://www.youtube.com/watch?v=5ZORa2Lfxck

On the back of the facts it is not inappropriate to tag,"The fast fashion industry has been a major culprit of this malpractice"

Update 01-07-2021

The deception of green-washing in fast fashion

Piyush Goyal gets additional charge of Textile Ministry

Piyush Goyal, who already has bagged few ministers in Modi government holding portfolio of more than two ministries, finds himself reloaded with an additional charge & responsibility in July 7th Cabinet mega reshuffle.

The Commerce and Industry, and Food, Consumers Affairs and Civil Supplies Minister who is amongst most trusted hands in current government has now been asked to wear the hat of the Textile ministry too.

Timing is apt as Textile portfolio is supposedly going to complement his existing functions in the Commerce Ministry where country's exports and to build trade relations with countries across the globe takes primacy especially in the face of growing clamour for 'Make in India' theme in Post-Covid World.

Watch: https://www.youtube.com/watch?v=CrmBQ_EsWKw

TEXTILES INDUSTRY CREDENTIALS

Job Creator: Textiles & Apparel industry employs around 55 million
Textiles & apparel (T&A) industry contributes 2% to the GDP, 12% to export earnings & holds 5% of global T&A trade
Technical Textiles: Growth Engine of Indian Textiles Sector
Post Covid World has thrown a big opportunity for the online textile industry