Tencent Holdings, the world’s fifth-largest Internet company and the operator of the WeChat messaging platform, is actively scouring for early-stage bets in India, as the social media giant looks to transport its hugely successful strategy from China.
Amazon.com Inc., the world’s largest online retail firm, had not even started seriously evaluating the Indian consumer Internet story, let alone invest in it. Walmart Inc. had just opened its first wholesale store in India in partnership with Bharti Enterprises, and was still plotting its strategy to open supermarket stores once the South Asian nation allowed foreign investment in retail.
India’s biggest tax reform is now a reality. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage.
BigBasket does not require additional funds immediately, it wants fresh capital because the grocery business will likely be a priority for both Walmart and Amazon
India tops the list of the fastest growing economies in the world for the coming decade and is projected to grow at 7.9 per cent annually, ahead of China and the US, according to a Harvard University report.
According to data from Grant Thornton, 21 deals worth USD 2,112 million were seen in 2017 with participation from players like Paytm and Flipkart.