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FDI liberalisation sought in e-commerce in India

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Washington: Ahead of President Barack Obama’s trip to India, two US lawmakers have asked him to request Indian Prime Minister Narendra Modi to liberalise foreign direct investment (FDI) restrictions on e-commerce sector.

“Such a move would benefit the economies of both India and the United States,” wrote senators Mark R. Warner and John Cornyn, Democratic and Republican co-chairs of the bipartisan Senate India Caucus, in a letter to Obama.

Warner is one of the four lawmakers who will accompany Obama on the trip to India.

“We believe [this FDI] liberalisation would benefit the Indian and US economies, as well as helping the nearly 400 million Indians that live below the poverty line with access to cheaper goods and job opportunities,” the duo said.

“In India, online generation of additional retail transactions would increase consumption, decrease consumer prices, improve market access for small- and medium-sized companies, and create jobs across a range of professional fields,” Warner and Cornyn wrote.

Currently, they noted, India prohibits foreign businesses from selling items directly to Indian consumers over the Internet which means that US businesses cannot sell products online directly to Indian consumers without involving a “middle man.”

If the prohibition were lifted, many US businesses would have greater access to India’s $4.9 trillion economy and a growing middle class, Warner and Cornyn suggested.

It also has the potential to increase competition in India by providing less expensive goods and create 250,000 jobs directly with the potential for more than 1 million jobs in customer service, IT, logistics, transportation, and administration by 2021, they said.

The Indian e-commerce market currently sits at about $3.5 billion and is expected to increase to $6 billion in 2016.

With the increase in low-cost smart phones and mobile broadband, penetration is expected to be significant in rural and semi-rural areas, the lawmakers said.

With expanded e-commerce, these consumers gain access to goods and services through retailers that currently lack brick-and-mortar locations, Warner and Cornyn said.

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Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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