Startup set up:
Four former Bajaj Auto executives have launched WheelsEMI, a startup which will lend money to the used two-wheeler market in the country says a report.
India’s used two-wheeler market totals about 17 million units per year and expanding at double-digit growth. Since financial companies and banks largely ignore this segment, the executives, led by former Bajaj Auto motorcycle business president Srinivas Kantheti and others decided to tap it.
TV price war:
There is a price war brewing in the LED television market as smaller brands are capturing this segment of the market, says a report.
Sony, Samsung and LG, the Big Three in television, are cutting prices of their large screen models even up to 15 per cent to gain market share. Some of the lesser brands are available online and offline, making it convenient for customers.
Fund launched:
A Rs150-200 crore fund launched by Intex Technologies will be used to invest in start-ups with a strategic fit.
The Delhi-based firm’s first investment has gone to Rooster, a startup which is planning an interactive sports app.
Dual SIMs dilemma:
Government intervention has been sought to address a glitch in 4G smartphones with dual SIMs which causes drops in service quality.
The Cellular Operators’ Association of India (CO-AI), which includes all the top providers, said that in phones using MediaTek chipset, the flow of data in the primary 4G SIM slot was hampered when a 4G LTE SIM was placed in the second slot meant for 2G SIMs. They urged the government to tell manufacturers to sort the problem quickly.
ECom Express expands:
E-commerce logistics company ECom Express has included Maharashtra among five states in an expansion plan to deliver products to all small cities and towns.
It has invested Rs 30 crore in this programme which now also includes West Bengal, Bihar, Gujarat and Punjab. It has set up 611 delivery centres in these five states as part of its full-coverage programme.
Walmart mulls outlets:
US retail giant Walmart is mulling physical outlets and selling products online if the Indian government allowed foreign retailers Made-in-India products for consumers, a report said.
Walmart is already a partner in the government’s Make in India campaign.
New sedan:
A compact sedan has been launched by Tata Motors which could heat up competition in that segment.
The Tigor is priced at around Rs 4.7 lakhs before insurance and local levies in Delhi while the high end costs Rs 7.9 lakhs. This is about Rs 60,000 to 80,000 cheaper than other brands in this segment.
No cheer:
The liquor industry was pegged down in the first nine months of the financial year, with sales slowing 0.4 per cent, says a report.
The fastest growing market since 2001 was hit by demonetisation and the slowing economy led people to tighten their purses.
More sellers sought:
TataCLiQ is planning to tap more sellers as it seeks to enter a newer category and boost its portfolio, reports said.
The Tata-owner e-commerce marketplace aims to increase its brands to 3,000 from the current 800 in the next quarter. It plans to add kidswear, jewellery and toys among other items.
Innovation programme:
Accounting firm PwC has launched an innovative programme for startups in Hyderabad.
According to the programme, the firm will tie up with startups, work on services, products, solutions and provide access to its corporate clients, a report said. If the programme is a success, PwC will extend the scope of the programme to other cities, according to the report.
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