e-commerce Current Affairs

Enter Your Email Address To Subscribe Current Affairs Daily Digest, Daily Quiz and other updates on Current Affairs:

Infosys unveils Skava Commerce, a modular e-commerce platform

India’s second largest software services major Infosys has launched “Skava Commerce” a new standard for modern, mobile-first and modular e-commerce platform for retailers.

The platform has been developed by Skava, a Silicon Valley-based e-commerce start-up that Infosys had acquired in June 2015 for 120 million dollars.

Key Facts

  • The Skava Commerce platform can help brick-and-mortar retailers to quickly launch new offerings, improve conversion rates of traffic coming from digital channels.
  • It can integrate with existing technologies, while providing a future-ready architecture that will enable next generation shopping experiences.
  • It leverages Artificial Intelligence (AI) and machine learning, natural language processing and virtual reality (VR).
  • It provides suite of e-commerce micro-services that can be used stand alone or in conjunction with others and can be implemented without downtime.
  • Skava Commerce’s modern architecture scales as traffic increases in order to provide a consistent experience across all channels.

Tags:

Union Government constitutes Amitabh Kant committee to review e-commerce rules

The Union Government has decided to set up a committee to look at easing the policy regime for e-commerce players, including the rules for foreign direct investment (FDI).

The committee will be headed by Amitabh Kant, CEO of NITI (National Institution for Transforming India) Aayog.

The other members in the panel will include officials from Union Commerce Ministry and Industry and Department of electronics and IT among others. Representatives from four states including Maharashtra and Karnataka will also be the members of the committee.

The terms of reference of the Committee

  • Examine various issues in e-commerce sector and making recommendations for further liberalisation of the policy.
  • Look into all issues including FDI norms pertaining to the fast growing e-commerce industry in the country.

There are issues related to e-commerce players selling pharmaceuticals and some e-commerce firms are facing taxation related problems in few states.

Setting up of this committee assumes significance as the Union Government recently had permitted 100 per cent FDI in food processing sector.  \The DIPP (Department of Industrial Policy and Promotion) has permitted 100 per cent FDI through automatic route in the marketplace format. But FDI has not been allowed in inventory-based model of e-commerce.

Tags:

Flipkart acquires Jabong through fashion portal Myntra

Homegrown e-commerce giant Flipkart acquired online fashion portal Jabong through its fashion unit Myntra.

It is said that Jabong was acquired by Flipkart in a cut-price deal that values the online fashion store at 70 million dollars.

This acquisition will help Flipkart to strengthen its position in Fashion and Lifestyle e-commerce segment in order to compete with Amazon Fashion in India.

About Jabong

  • Jabong was founded in 2012. It was owned by Global Fashion Group (GFG).
  • It offers more than 1,500 international high-street brands, sports labels, Indian designer and ethnic labels and over 150,000 styles from more than 1,000 sellers.
  • In September 2014, Jabong was merged with four online fashion retailers in Latin America, Russia, South-east Asia, Middle East to create GFG by its investor Rocket Internet.

Tags:

Advertisement

12345...9