Amazon ‘excited’ about India; sees huge headroom for e-comm market growth-Telangana Today

E-commerce giant Amazon is “excited” about India market, charged by digitisation, economic growth and younger demographics.

Published Date – 05:30 PM, Fri – 1 September 23


Amazon ‘excited’ about India; sees huge headroom for e-comm market growth



New Delhi: E-commerce giant Amazon is “excited” about India market, charged by digitisation, economic growth and younger demographics, its country head Manish Tiwary has said asserting that the runway on e-commerce opportunity in the country “is huge” going forward.

In an interview with PTI, Tiwary, who is the Country Manager Consumer Business at Amazon India, spoke about “a very clear calendar” for making business here profitable, and assured that the company is on track with its 2025 targets.

Amazon, which recently marked its 10-year journey in India and has a 100 million-plus customer base, still considers it ‘day zero’ here, given a massive runaway for growth in this largely under-penetrated market.

The company is committed to tapping the market potential and bringing new innovations to the fore, he said.

Tiwary described India’s e-commerce market as “exciting and attractive” and went on to say that “headroom is not a challenge for this industry, at least for the next few decades” so long as the focus is on getting the ‘customer and seller basics’ right.

“Worldwide for us…India continues to be a very exciting market…So worldwide Amazon is very focused and continues to be super excited with India,” he pointed out.

Amazon’s optimism about India e-commerce prospects is backed by the pace of economic growth, digitisation, mobile and internet penetration, and most recently the 5G adoption.

“I can’t think of too many markets of this size which can have this kind of potential,” he said.

Asked about the path to profitability and steps taken towards that goal, Tiwary said just as with any business, the company has a certain timeframe in which it expects to turn profitable on various markers.

“The good news is, India business is meeting all those relevant markers on profitability as we go along,” he said, explaining that the company undertakes continuous review of its portfolio.

Based on such portfolio assessment, it doubles down on ideas that work well and slowly withdraws from those that don’t.

“As far as the core profitability is concerned, we are very happy with how we are meeting the markers on that journey…let me assure you there’s a very clear calendar on how we plan to make this business profitable,” he said.

A surge in online users and smartphone penetration alongside rising household incomes has fuelled a meteoric growth of India’s e-commerce sector. As per FIS’ 2023 Global Payments Report released earlier this year, India’s e-commerce market is projected to grow to USD 150 billion in 2026 from USD 83 billion in 2022.

According to a Redseer report, Indian e-commerce is expected to grow at a compound annual growth rate (CAGR) of 27 per cent to reach USD 163 billion by 2026, nearly three times the growth of the overall retail market.

“The headroom is not a challenge for this industry, at least for the next few decades,” Tiwary said.
On competition in the market from Flipkart, JioMart and others, Tiwary believes that given the low e-commerce penetration, market competition will not be a point of concern.

“We do not worry about competition, more players will bring (more) innovation and we are very respectful…You worry about these things when your penetration is 90 per cent, so as a company we have always focused on customers,” according to the Amazon senior executive.

That said, India is not a market where one strategy fits all nor can a global playbook be applied to India, which means companies have to address local nuances such as language, selection and other facets.

“We feel confident that the first 10 years have taught us ways on how to meet customer expectations. The market is so nascent…more the innovation, more the players…I think, in the long run, it is much better for our sellers and customers,” he said.

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9.6 overs (0 Run) Hits the good length at the off stump line. Rohit Sharma blocks it off the crease to end the over.

9.5 overs (4 Runs) FOUR! The fourth boundary of the over for Rohit Sharma. Pitched up at the off stump and Rohit Sharma plays the perfect cover drive to beat the covers fielder for another boundary. HITMAN on the charge. IND vs SL: Super Four - Match 4: Rohit Sharma hits Dasun Shanaka for a 4! IND 65/0 (9.5 Ov). CRR: 6.61

9.4 overs (4 Runs) FOUR! On the length at the stumps. Rohit Sharma plays the uppish straight pull beating the mid on fielder to his left and getting the 3rd boundary of the over. IND vs SL: Super Four - Match 4: Rohit Sharma hits Dasun Shanaka for a 4! IND 61/0 (9.4 Ov). CRR: 6.31

9.3 overs (0 Run) Pitched on the length at the stumps. Rohit Sharma plays the front foot defence.

9.2 overs (4 Runs) FOUR! This time on the leg side. Pitched up on the leg stump this time and Rohit Sharma finds the gap between mid on and mid-wicket with a flick of the wrist and exquisite timing for the second boundary of the over. IND vs SL: Super Four - Match 4: Rohit Sharma hits Dasun Shanaka for a 4! IND 57/0 (9.2 Ov). CRR: 6.11

9.1 overs (4 Runs) FOUR! Right in the slot, outside the off stump. Rohit Sharma plays the ball over covers with just an extension of the arms with perfect timing to bring up a boundary. IND vs SL: Super Four - Match 4: Rohit Sharma hits Dasun Shanaka for a 4! IND 53/0 (9.1 Ov). CRR: 5.78

9.1 overs (1 Run) Wide! Wayward outside the off stump this time. Umpire signals a wide.

8.6 overs (4 Runs) FOUR! On the pads and this time pitched up Shubman Gill finds the gap between mid wicket and square leg on the leg side as he flicks the ball using his bottom hand for a handsome boundary. IND vs SL: Super Four - Match 4: Shubman Gill hits Matheesha Pathirana for a 4! IND 48/0 (9.0 Ov). CRR: 5.33

8.5 overs (0 Run) Short and wide. Shubman Gill misses out on the cut as he plays it again to the fielder at cover point.

8.4 overs (0 Run) Pitched up at the stumps. Shubman Gill pushes the ball straight to mid wicket.

8.3 overs (0 Run) Short and wide. Shubman Gill pushes the ball off the back foot straight to the fielder at point.

8.2 overs (0 Run) On the pads again from the good length. Shubman Gill tucks the ball towards the square leg fielder.

8.1 overs (0 Run) Pitched up at the leg stump. Shubman Gill flicks it straight to the fielder at mid wicket.

Matheesha Pathirana is introduced into the attack now.

7.6 overs (0 Run) On the pads this time from the length. Rohit Sharma looks to flick it but gets hit on the thigh pads.

7.5 overs (0 Run) Just short at the stumps. Rohit Sharma blocks it off the back foot towards covers.

7.4 overs (0 Run) Late outswing from the good length outside the off stump. Rohit Sharma looking to cut the ball gets beaten.

7.3 overs (1 Run) Just short outside the off stump. Shubman Gill tucks it down to backward deep point and runs a single.

7.2 overs (0 Run) On the length again outside the off stump. Shubman Gill pushes the ball straight back to the bolwer.

7.1 overs (0 Run) Hits the good length hard just outside the off stump. Shubman Gill plays the front foot defence towards covers.

6.6 overs (0 Run) Pitches the ball up again at the stumps. Rohit Sharma blocks it off from the crease.

6.5 overs (6 Runs) SIX! What a shot, straight back the bowler’s head for a massive six, bringing 10,000 ODI runs for Rohit Sharma. Pitched up on the stumps, Rohit Sharma takes a leg out and punches the ball over the bowler’s head to bring up the first six of the innings. IND vs SL: Super Four - Match 4: It's a SIX! Rohit Sharma hits Kasun Rajitha. IND 43/0 (6.5 Ov). CRR: 6.29

6.4 overs (0 Run) Slower ball outside the off stump, from the length. Rohit Sharma goes back and looks to cut it but gets an inside edge back to the wicketkeeper on the bounce.

6.3 overs (0 Run) Pitches one up at the stumps. Rohit Sharma takes a leg out and pushes the ball to mid off for no run.

6.3 overs (1 Run) Wide! Outside the leg stump again. Second wide for the over.

6.3 overs (5 Runs) 5 Wides! Wayward outside the leg stump. Too far away for the wicket keeper to stop. Wide ball.

6.2 overs (0 Run) On the stumps from the good length. Rohit Sharma blocks it off the front foot.

6.1 overs (0 Run) Hits the good length hard outside the off stump with some out swing. Rohit Sharma leaves the ball to go through.

Another solid start from the two Indian openers. Will we witness a century stand again?

5.6 overs (1 Run) Short and wide. Rohit Sharma goes back and plays the ball into the off side gap for a single.

5.5 overs (4 Runs) FOUR! Flicked off the pads! Rohit Sharma gets his second boundary towards deep square to a good length ball at the stumps as there is a mis field at the deep square leg boundary to give India another boundary. IND vs SL: Super Four - Match 4: Rohit Sharma hits Dasun Shanaka for a 4! IND 30/0 (5.5 Ov). CRR: 5.14

5.4 overs (1 Run) Short and wide. Shubman Gill cuts the ball towards deep point for a single.

5.3 overs (0 Run) Slightly on the pads from the length. Shubman Gill looks to flick the ball but gets an inside edge on to the thigh pads to the wicket keeper.

5.2 overs (0 Run) Bowls on a good length on the stumps and Shubman Gill pushes the ball off the front foot straight to mid on.

5.1 overs (0 Run) Hits the good length on top of the off stump with a hint of inswing. Shubman Gill plays the front foot defence back to the bowler.

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Congress workers join BRS in Andole

Welcoming them into the party fold, Kranti Kiran said Congress leader Damodara Raja Narasimha was trying to instigate differences among the people by making them demand for the implementation of Dalit Bandhu all at once.

Updated On – 08:02 PM, Sun – 10 September 23


Congress workers join BRS in Andole



Sangareddy: As many as 150 Congress workers from Shivvampet village in Choutakuru mandal joined the Bharat Rashtra Samithi (BRS) in the presence of Andole MLA Chanti Kranthi Kiran on Sunday.

Welcoming them into the party fold, Kranti Kiran said Congress leader Damodara Raja Narasimha was trying to instigate differences among the people by making them demand for the implementation of Dalit Bandhu all at once.

Stating that the demand was very unscientific, the Andole MLA said the government was giving Dalit Bandhu benefits to 200 families in every mandal. He asked Raja Narasimha how many people he had granted SC Corporation loans in Andole Constituency when he was Deputy Chief Minister.

The State government will cover the scheme for all the beneficiaries in a phased manner, he said.

French wine, live lobsters, perfomers: A peek inside Kim Jong-Un’s luxury bulletproof train

In a rare trip to meet President Vladimir Putin, Kim Jong-un on Tuesday arrived in Russia on board his bulletproof train

Published Date – 10:30 AM, Tue – 12 September 23


French wine, live lobsters, perfomers: A peek inside Kim Jong-Un’s luxury bulletproof train



London: In a rare trip to meet President Vladimir Putin, Kim Jong-un on Tuesday arrived in Russia on board his bulletproof train — a slow-moving luxury locomotive which said to include a restaurant serving fine French wines imported from Paris and dishes such as fresh lobster, with dancers and performers to entertain the high-profile travellers, a media report said.

According to the BBC report, the green train with a yellow stripe train named ‘Taeyangho’, the Korean word for the sun and a symbolic reference to North Korea’s founder Kim Il Sung, runs along at a speed of about 50km/h because of its heavy armoured protection. In comparison, London’s high-speed rail runs at about 200km/h while Japan’s Shinkansen bullet trains can hit 320 km/h.

The BBC said that Kim Jong-un spent more than 20 hours travelling some 1,180 km on the slow-moving locomotive. A report by South Korean Yonhap News Agency citing the North’s officialKorean Central News Agency (KCNA) said on Tuesday that that Kim Jong-un had left Pyongyang for Russia aboard the bulletproof train on Sunday afternoon, accompanied by leading officials of the regime’s ruling party and the armed forces. The KCNA said Kim “left here by his train on Sunday afternoon to visit the Russian Federation”.

Meanwhile,Russian media outlet “Vesti Primorye” also reported that Kim’s train arrived at the border city of Khasan on Tuesday and was on its way to the Far Eastern city of Ussuriysk, citing a railway source. The train passed through Khasan station early Tuesday and is already in the Primorsky Krai region, according to the Russian media report.

In November 2009, South Korean daily Chosun Ilbo reported that the armoured train featured around 90 carriages.

It also had conference rooms, audience chambers and bedrooms, with satellite phones and flat-screen televisions installed for briefings.

The tradition of long-distance travel via train was started by Kim Il Sung — Kim Jong-un’s grandfather — who took his own locomotive on trips to Vietnam and Eastern Europe, the BBC report said.

The luxurious trains are said to be heavily guarded by security agents who scan routes and upcoming stations for bombs and other threats.

Kim Jong-un’s father Kim Jong Il, who ruled North Korea from 1994 until his death in 2011, took 10 days to get to Moscow in 2001 to hold a meeting with Putin.

Russian military commander Konstantin Pulikovsky, who accompanied the former North Korean leader on the 2001 ride, said his memoir “Orient Express” that “it was possible to order any dish of Russian, Chinese, Korean, Japanese and French cuisine”, the BBC reported

He wrote that live lobsters were transported to the train to ensure the availability of fresh delicacies, while cases of red wine from Bordeaux and Burgundy were also flown in from Paris.

Even Putin’s private train “did not have the comfort of Kim Jong Il’s train,” he said.

Another former Russian diplomat, Georgy Toloraya, wrote in 2019 about his experience of travelling on the same 2001 train ride, about dishes considered delicacies such as donkey meat and abalones being flown in from Pyongyang.

Russian Standard vodka was also a fixture. Both Russians described performers and singers entertaining guests aboard the train.

According to North Korean state media, Kim Jong Il died of a heart attack while travelling on the train in 2011.

 

Al-Araji, Kurdistan minister discuss security deal with Iran

During the meeting, Al-Araji and Barzani stressed the need to pursue the orders of the Prime Minister of Iraq and the security agreement with Iran based on the commitment of the federal government.

The two sides also discussed the continuation of cooperation and coordination to strengthen security and stability in the region.

Recently, Iraq’s national security adviser emphasized that Baghdad is making extensive efforts to implement the security agreement with Iran.

Earlier, Iraqi Prime Minister Mohamed Shia al-Sudani stressed that Baghdad is obliged to eliminate Iran’s security concerns.

Touching upon the process of the implementation of the recent security agreement between Tehran and Baghdad, according to which the Iraqi side is committed to disarming the armed separatist and terrorist groups in the Kurdistan region by September 19, the Iranian Foreign Ministry Spokesperson Nasser Kan’ani on Monday said that the deadline will not be extended under any circumstances and this matter has been officially announced by Iraqi officials to the Iraqi side, he said.

He went on to say that fortunately, the Iraqi government has taken favorable measures in this regard so far and it emphasized that it adheres to the agreement. The Prime Minister of Iraq has also made favorable statements recently, and Iran hopes to see the full implementation of this agreement on the determined date, he continued.

In July, the Chief of Staff of the Iranian Armed Forces warned Iraq over the presence and the activity of anti-Iran terrorist groups in that country.

Major General Mohammad Bagheri said that Iran waits until Iraq’s deadline is over and hopes that the Iraqi government fulfills its responsibility, but if the deadline is finished and the anti-Iran terrorists remain armed or continue to carry out operations, the country will resume acting against the terrorists.

IRGC Ground Force Commander Brigadier General Mohammad Pakpour earlier said that Iraq has undertaken a commitment to disarm and expel anti-Iran terrorists operating in the semi-autonomous Kurdistan region.

Since September 24, 2022, the IRGC has launched several rounds of airstrikes against the positions of the terrorists who are holed up in Iraqi Kurdistan.

The IRGC has urged the central government in Iraq and authorities in Kurdistan to meet their commitments toward Iran and take necessary measures to secure the border.

On November 21, 2022, positions of anti-Iran separatist and terrorist groups in northern Iraq came under combined attacks using missiles and kamikaze drones. The strikes targeted the positions of the notorious ‘Democratic Party of Iranian Kurdistan’ (PDKI) and the Komala Party in northern Iraqi Kurdistan, Iran’s Arabic-language al-Alam television news network reported at the time.

MP/5884112

IPL: Sridharan Sriram joins Lucknow Super Giants as assistant coach

Sridharan Sriram has joined Lucknow Super Giants as the assistant coach for the upcoming season

Published Date – 12:50 PM, Sat – 9 September 23


IPL: Sridharan Sriram joins Lucknow Super Giants as assistant coach



New Delhi: Sridharan Sriram, the former India left-arm spinner, has joined Lucknow Super Giants (LSG) as the assistant coach for the upcoming season, the franchise said on Saturday. LSG had earlier appointed Justin Langer as their new head coach, replacing Andy Flower.

“Sriram’s appointment completes the Super Giants’ stellar backroom staff led by Langer and global mentor Gautam Gambhir. Vijay Dahiya and Pravin Tambe continue in their roles as assistant coach and spin bowling coach respectively, while the South African duo of Morne Morkel and Jonty Rhodes carry on as the team’s bowling coach and fielding coach,” added the franchise in a statement.

Sriram, who played eight ODIs for India from 2000-04, had been Australia’s assistant coach for six years, before leaving the role in 2022. He first came into the Australian set-up as a spin coach under then head-coach Darren Lehmann in 2016.

Sriram, who played domestic cricket for Tamil Nadu, as well as for Maharashtra, Goa, Assam and Himachal Pradesh in his playing career, is known to have a huge influence on leg-spinner Adam Zampa, left-arm spinner Ashton Agar, and veteran off-spinner Nathan Lyon, plus improving part-time spin of Glenn Maxwell.

He was also appointed as technical consultant for the Bangladesh T20I side from the Asia Cup to the T20 World Cup in Australia last year. Sriram, who earned the prestigious distinction of an ECB Level-3 “Head Coach” in 2008, has been involved with the IPL previously, working as an assistant coach specialising in batting and spin bowling for the Royal Challengers Bangalore (RCB) till this year’s IPL.

Royal Enfield sales rise 11 pc to 77,583 units in August-Telangana Today

Mid-sized motorcycle maker Royal Enfield on Friday reported an 11 per cent rise in total sales at 77,583 units in August 2023.

Published Date – 05:35 PM, Fri – 1 September 23


Royal Enfield sales rise 11 pc to 77,583 units in August



New Delhi: Mid-sized motorcycle maker Royal Enfield on Friday reported an 11 per cent rise in total sales at 77,583 units in August 2023.

The company had sold 70,112 units in the same month last year, Royal Enfield said in a statement.

Domestic sales were at 69,393 units as against 62,892 units in the year-ago month, a growth of 10 per cent, it added.

Exports also grew 13 per cent to 8,190 units as compared to 7,220 units in August last year, the company said.

Oil Nears $90 For 1st Time In 2023, Fuel Price Unlikely To Change In India

Oil Nears $90 For First Time In 2023, Fuel Price Unlikely To Change In India

Oil prices hit a 10-month high of nearly USD 90 per barrel

New Delhi:

Oil prices hit a 10-month high of nearly USD 90 per barrel as Saudi Arabia and Russia extended their voluntary production and export cuts until the end of the year.

For a nation that is more than 85 per cent dependent on imports for its oil needs, the surge in prices means India will have to shell out more and the prospect of returning to market-driven petrol and diesel prices in the near future diminished further.

Brent crude prices surged around 6.5 per cent over the past week after Saudi Arabia, which leads the expanded OPEC cartel with Russia, decided to keep its one million barrels a day reduction in supplies to the global market until the end of December.

Russia has added its own voluntary export cuts in recent months.

The move has led to Brent rising above USD 90 a barrel for the first time this year on Tuesday. On Wednesday, it was trading at USD 89.67 per barrel.

The basket of crude oil that India imports has averaged USD 89.81 per barrel this month, up from USD 86.43 in August, according to oil ministry data.

The Indian basket was hovering in the range of USD 73-75 per barrel in May and June, rekindling hopes for a return to market-based pricing and a reduction in petrol and diesel prices.

But rates spurt to USD 80.37 per barrel in July and now to near USD 90.

“Public sector oil companies had been recouping losses they incurred for holding rates when crude oil prices shot through the roof last year. In May, international oil prices and retail pump rates had come at par.

“But now with the prices rising, the difference between cost and retail prices will reappear,” an industry official said.

India imports 85 per cent of its oil needs and its fuel pricing is indexed to international rates.

Petrol and diesel prices have been on a freeze for a record 17 months in a row. Petrol costs Rs 96.72 per litre in the national capital and diesel comes for Rs 89.62 a litre.

State-owned fuel retailers are supposed to revise petrol and diesel prices daily based on a 15-day rolling average of benchmark international fuel prices but they haven’t done that since April 6, 2022.

Prices were last changed on May 22 when the government cut excise duty to give relief to consumers from a spike in retail rates that followed a surge in international oil prices.

Sources said if international oil prices had stayed around USD 73-74 a barrel range, oil companies would have re-started daily price revision.

Higher prices would mean domestic producers like the Oil and Natural Gas Corporation (ONGC) get a higher price. However, the incremental revenues are likely to be ploughed by the government in the form of a windfall profit tax.

The tax, levied in the form of Special Additional Excise Duty (SAED), on domestically produced crude oil was reduced to Rs 6,700 per tonne starting September 2, from Rs 7,100 a tonne previously.

A windfall tax is levied on domestic crude oil if rates of the global benchmark rise above USD 75 per barrel.

Crude oil pumped out of the ground and from below the seabed is refined and converted into fuels like petrol, diesel and aviation turbine fuel.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Coal India commits Rs 24,750 cr for 61 eco-friendly projects   

It is essential that coal transportation is environment friendly to improve the quality of life of people living in the proximity of coalfield areas.

Updated On – 03:42 PM, Tue – 12 September 23


Coal India commits Rs 24,750 cr for 61 eco-friendly projects   



New Delhi: Coal India Ltd has committed a capital investment of about Rs 24,750 crore in the next few years on as many as 61 first-mile connectivity (FMC) projects in a bid to boost eco-friendly coal transportation.

In a statement, the world’s largest coal producer said the projects, which will be set up in three phases, will have a combined capacity of 763.5 million tonnes per annum on completion.

FMC projects involve the transportation of coal in mechanized piped conveyors from production points to coal handling plants/silos with a rapid loading system where coal is loaded directly into rail wagons.

“It is essential that coal transportation is environment friendly to improve the quality of life of people living in the proximity of coalfield areas.

“FMC projects offer benefits like suppression of dust pollution and carbon emissions. They also reduce the load on road transportation leading to safety. Other benefits include precise quantity and quality coal is loaded for consumers with minimal manual intervention,” said a senior CIL official.

As many as 35 FMC projects under the first phase having 414.5 million tonnes capacity account for Rs 10,750 crore. Of these, eight projects of 112 million tonnes capacity are already operational.

Coal India is gearing up to commission 17 more projects of 178 million tonnes by current fiscal, it said, adding the remaining 10 comprising 124.5 million tonnes of capacity are expected to be operative by FY 2025 (April 2024 to March 2025 fiscal year).

“The second and third phase projects account for 9 and 17 respectively. While their respective evacuation capacities are 57 million tonnes and 292 million tonnes, the investments sequentially, would be about Rs 2,500 crore and Rs 11,500 crore,” the statement said.

Under the second phase, 5 projects of 21.5 million tonnes capacity under construction are expected to be commissioned by FY 2025. The
remaining projects are in different stages of progress with tenders issued and bid document under preparation.

For the third phase, tenders have been floated for 3 projects of 65 million tonnes capacity. Nine projects are to be executed through mine developers and operators. Phase three projects are anticipated to be commissioned by FY 2029.

Initially, CIL targeted coal mines having a production capacity of 4 million tonnes and above under the first phase.

After a pilot study conducted through NEERI on potential advantages of FMC projects reflected sizable reduction in CO2 emissions, air pollutants, ambient noise levels and significant savings in diesel costs, CIL expanding the ambit included mines producing 2 million tonnes and above in subsequent two phases.

Total eco-friendly coal evacuation would go up to 914.5 million tonnes when all 61 projects become operational by FY 2029, including the earlier capacity of 151 million tonnes per annum, the company said.

Hyderabad’s temperature soars after cool spell

After experiencing a respite, residents of Hyderabad found themselves sweating in sultry conditions as the day temperature soared to 30 degrees Celsius.

Published Date – 03:26 PM, Tue – 12 September 23


Hyderabad’s temperature soars after cool spell



Hyderabad: After experiencing a respite, residents of Hyderabad found themselves sweating in sultry conditions as the day temperature soared to 30 degrees Celsius on Tuesday.

This rise in temperature comes after nearly a week of cooler weather when the mercury remained below 30 degrees Celsius.

The India Meteorological Department (IMD) Hyderabad had predicted this change in weather patterns, indicating that the maximum temperature is likely to remain above 30 degrees Celsius for the next four days.

In addition to the rise in temperature, IMD Hyderabad has also noted that rains are likely to be scattered across the state in the coming days, with no major rain events expected until at least September 14.