Tag: AMAZON

The Key to Long-Term Success: Emulating Jeff Bezos’ Customer-Focused Approach

Jeff Bezos sold 50 million shares of Amazon, reiterating the importance of an obsessive focus on customer experience. He emphasized that long-term success arises from alignment between customer and shareholder interests.

Bezos channeled Aristotle’s concept of addressing audience concerns for effective communication. He urged communicators to analyze and prioritize audience benefits.

Bezos exemplified this approach through Amazon’s profitability and the Day One Foundation’s focus on the customer. The key takeaway is to emulate Bezos by identifying the audience and maintaining an obsessive focus on them.

Income Tax department issues Rs 549-crore tax demand notice– Check reason

The income tax department has imposed a ₹549 crore demand notice on Amazon Web Services (AWS), an arm of ecommerce major Amazon that offers cloud services, government officials aware of the development told ET.

The notice sent to AWS is based on the taxman’s findings that the company was imposing a fee for offering cloud computing services to Indian entities. It wasn’t, however, paying any tax on it.

tax department detected that AWS was charging a fee for providing cloud computing services to Indian entities but not paying tax on it, they said.

Amazon India didn’t respond to queries.

The department has raised a ₹190.85 crore tax demand for the FY15 and ₹358.27 crore for FY17, invoking Section 147 of the Income Tax Act. The last notice was sent in the last week of January, said one official.

The assessing officer can issue a notice under Section 147 of the Income Tax Act if there is reason to believe some income chargeable to tax has escaped assessment.

The department claims that the receipts from cloud computing services were in the nature of royalty and fee for technical services (FTS) and chargeable to tax in India. The official added that the amount also includes interest on the pending tax dues but not a penalty.

Another official said that the department had shortlisted many companies that were transferring money to their parent companies but were not paying taxes.

“There are many companies which are sending huge amounts in the name of royalty payment to their parent companies just to evade tax. We have sent notices in some cases and are already in the process of sending more notices,” the official added.

Government’s Big Plan To Curb Fake Reviews On E-commerce Platforms

The central government has stepped up its steps to protect customers from fake reviews of products and services on online sales platforms. According to the report, the government will come up with SOPs to protect the consumers. The government has also sought advice from other concerned parties including e-commerce companies in this regard.

Rohit Kumar Singh, Secretary, Ministry of Consumer Affairs, held a meeting on the issue with e-commerce companies and other stakeholders. According to the report, the Consumer Affairs Ministry discussed the issue of curbing the tendency of misleading potential customers with fake reviews during a virtual meeting with the Advertising Standards Council of India (ASCI). After the meeting, the government said on Saturday that for the safety of customers, it will develop a format to stop posting of fake reviews of products and services on online sales platforms.

Companies will also have to tell how the review was selected: Ministry

Secretary, Ministry of Consumer Affairs, Rohit Kumar Singh said that ensuring the credibility of customers posting their reviews about products and services on e-commerce websites and fixing the website’s accountability are two important aspects of this issue. . Also, e-commerce companies will also have to explain how they select the most relevant reviews in a fair and transparent manner.

Breaking: Parliamentary Committee Will Send Summons To Giant Technology Companies Including Google

Parliamentary committee will send summons to social media and tech companies

The Parliamentary Committee on Finance will be sent summons to the world’s leading tech, social media and e-commerce companies. Through this, their competition policies will be investigated and questioned. These companies include Apple, Google’s proprietary company Alphabet, Facebook’s proprietary company Meta, Amazon, Walmart’s Flipkart, Microsoft. It is believed that this step was taken in view of the deal being done by Elon Musk to buy Twitter.

Breaking: CCI Raids E-commerce Companies Amazon And Flipkart

The Competition Commission of India (CCI) on Thursday morning raided the locations of major sellers selling products on Amazon and Walmart’s company Flipkart’s e-commerce platform. The raids took place at two sellers of Amazon and Walmart’s Flipkart in Delhi and Bangalore.

It is alleged that both the companies favored these sellers by providing unethical facilities on their online platforms, which enabled them to sell more products than other sellers. Considering these allegations against the free competition of the market, the Commission has been investigating since January 2020.

There were several allegations against Amazon and Flipkart by Indian retailers. According to them, large sellers get special preference, similar products are sold at a lower price, e-commerce companies also help them with data related to the buying habits of customers stored on their websites.

Why the suspicion of fraud increased

1.) 4,00,000 sellers were selling their goods on Amazon in 2019.

2.) 35 sellers were doing two-thirds of the sales, even in two-thirds, 35 percent of the sales were from Cloudtail and Apario alone.

3.) To protect its image last year, Amazon said that Cloudtail will no longer be a seller after May 2022.

Parliamentary committee will send summons to social media and tech companies

The Parliamentary Committee on Finance will be sent summons to the world’s leading tech, social media and e-commerce companies. Through this, their competition policies will be investigated and questioned. These companies include Apple, Google’s proprietary company Alphabet, Facebook’s proprietary company Meta, Amazon, Walmart’s Flipkart, Microsoft. It is believed that this step was taken in view of the deal being done by Elon Musk to buy Twitter.

Battle of Badshahat: Legal Battle Going On For More Than A Year Between Amazon, Reliance And Future Group

The ‘Holi Milan’ between Reliance Group, Future Group and Amazon has now turned into ‘Mahabharat’. At the center of this Mahabharata is nothing but the Indian retail market, whose battle to become the king is going on between Reliance and Amazon. In this, Future Group has also been suffering for more than a year.

In fact, to establish its dominance in the domestic retail market, Reliance had signed a deal of Rs 24,713 crore with Future Group on August 29, 2020. Upon completion of the deal, Reliance would have acquired the ownership of Big Bazaar as well as other retail, warehousing, logistics and wholesale businesses of the Future Group. That’s when Amazon put the deal on hold and has been fighting a legal battle with the Future Group for more than a year. Recently there were reports that Amazon and Future Group have agreed to settle the dispute out of court. The Supreme Court gave 15 days for this, but the matter could not be resolved. The battle for the kingdom continues.

Amazon Vs Future: No Solution Came Out Of Mutual Talks Outside Court, Matter Will Be Heard in Supreme Court

Amazon told the Supreme Court on Tuesday that it and Future Group had held extensive talks to reach a settlement, but no progress had been made on arbitration on the assets of Future Retail Ltd (FRL).

Supreme Court will hear on March 16

Along with this, it was argued on behalf of Amazon that despite the apex court’s order, Mukesh Ambani-led Reliance has taken over the FRL store. In this case, FRL says that not a single store has been surrendered yet. The Future Group said that Reliance came and removed the boards overnight as permitted by law. After hearing both of them, now the Supreme Court will hear Amazon’s petition seeking protection from FRL store acquisition on March 16.

Amazon Great Freedom Festival Sale 2021 Starting Today, Full of Attractive Offers

Amazon is one of the largest e-commerce platforms in India. Like every year, this year also Amazon is bringing its Great Freedom Festival sale, which has started today on 5th August. This sale will run for five days till August 9.

In this sale, Amazon is offering attractive offers and discounts to woo the customers. There is enthusiasm for this sale among the customers too. In this sale, you will get good discounts on all the items of different categories. Customers can take advantage of all these exciting offers and discounts for which they are excited.

Read This : Alert! RBI cautions the public not to fall prey to fictitious offers of buying/ selling of Old Bank Notes and Coins

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You can buy any goods with cryptocurrencies like bitcoin, Amazon is going to start this facility soon

In view of the growing trend of bitcoin and other cryptocurrencies, the world’s leading e-commerce company Amazon may soon allow its users to make payments in cryptocurrency like bitcoin. Amazon is recruiting digital currency and blockchain experts for its payments team. Amazon’s Payments Acceptance and Experience team is looking for an experienced product leader to develop Amazon’s digital currency and blockchain strategy and product roadmap, according to a recent job listing.

According to a company spokesperson, Amazon’s move is inspired by innovations in the cryptocurrency space and it is trying to figure out how it could pan out for Amazon.

New digital currency and blockchain product leads will need to operate with a high degree of autonomy, operate analytically, etc. to create new and innovative solutions to unsolved problems.

Amazon India to commence manufacturing of electronics products in India

Amazon India will start manufacturing of electronics products in India. To begin with, it is going to start manufacturing Amazon Fire TV sticks from India. The announcement came after Electronics and IT Minister Ravi Shankar Prasad’s virtual meeting with Amazon’s Global Senior Vice President and Country Head for India Amit Agarwal. 

Minister  said, India is an attractive investment destination and is poised to become a major player in the global supply chain in the electronics and IT products industry. He said the government’s decision to launch a Production- Linked Incentive Scheme has received tremendous response globally. The Minister welcomed Amazon’s decision to set up a manufacturing line in Chennai, as it will enhance domestic production capacities, and create jobs as well. He added that it will further our mission of creating an Atma Nirbhar Bharat which is digitally empowered.

Amazon will commence its manufacturing efforts with contract manufacturer Cloud Network Technology, a subsidiary of Foxconn in Chennai and start production later this year. The device manufacturing programme will be able to produce hundreds of thousands of Fire TV Stick devices every year, catering to the demands of customers in India.

BUMPER RECURUITMENT IN FLIPKART AND AMAZON

Bumper recruitment in Flipkart and Amazon, e-commerce companies will give jobs to two lakh people

As the festival season starts in India, e-commerce companies have brought a wave of happiness for the unemployed people. This festival season, many e-commerce companies like Flipkart and Amazon are going to recruit bumper to increase their sales, this will provide jobs to about two lakh people in the country.

At the same time, Flipkart has said that it will provide jobs to 70,000 people before October. Not only this, the logistics company Ecom Express, which delivers goods from e-commerce companies, has announced 30,000 new jobs. Appointments in these companies are expected by the first week of October.

Flipkart will provide jobs in supply chain

Flipkart has said that it will help 70,000 people to get jobs either directly or indirectly in this festival season. Direct jobs in Flipkart will be given in the supply chain department. Under this, the company will recruit delivery executives, pickers, packers and shotgers. Apart from this, the company will indirectly provide jobs to people at Flipkart’s seller partner location and grocery stores.

Amazon will provide jobs to 100,000 people

E-commerce company Amazon will recruit one lakh people in India. The company says that new employees will help in packing, shipping or sorting orders. These appointments will be done on a part time and full time basis. However, the company says that these jobs are not part of its holiday hiring.

At the same time, Ecom Express, a company providing logistics services to e-commerce companies, will provide jobs to 30,000 people in the first week of October. The company will recruit these employees to meet the growing demand for delivery of e-commerce companies during festivals, although these will be temporary.

Thanks for reading “Bumper recruitment in Flipkart and Amazon“

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