Walmart to lay off top execs in Gurugram; DPIIT to meet industry execs over draft e-comm policy

Walmart to lay off top execs in Gurugram; DPIIT to meet industry execs over draft e-comm policy
Photo Credit: VCCircle
13 Jan, 2020

Global retailing major Walmart India is in the process of dismissing about a third of its top executives based in Gurugram, The Economic Times reported. The Bentonville, Arkansas-based company will let over 100 senior executives, including vice presidents across sourcing, agri-business and FMCG (fast-moving consumer goods) divisions, go, the report said. The company plans to shut its largest warehouse in Mumbai and halt new-store expansion in India. The report said that more people may be dismissed later this year.

DPIIT to meet IT, e-comm firms to discuss draft e-comm policy

The DPIIT (Department for Promotion of Industry and Internal Trade) is conducting a meeting of industry representatives from IT and e-commerce sectors on Tuesday to discuss the merits and demerits of the draft e-commerce policy on data storage, The Economic Times reported. The meeting will be chaired by an additional secretary-level officer of the DPIIT. Representatives from Accenture, Adobe, Facebook, Genpact, Google, HCL, Infosys, Intel, Microsoft and TCS are expected to join the meeting, the report said. The report revealed that officials from Nasscom, The E-commerce Council of India, The Informational Technology Industry Council, the Confederation of Indian Industry, and FICCI (Federation of Indian Chambers of Commerce and Industry) will also be attending the meeting.

Bezos to face protests from traders during India visit

A large number of small-scale traders in India are planning to protest against Jeff Bezos, founder of Seattle-headquartered e-commerce giant Amazon, when he visits India next week for a company event and potential meetings with government officials, The Economic Times reported. The CAIT (Confederation of All India Traders), a group representing around 70 million brick-and-mortar retailers, said that it would protest across 300 cities during Bezos’ visit. Bezos will be in India for an Amazon event in New Delhi, aimed at connecting with small and medium-sized enterprises. He has sought meetings with the prime minister and other government officials, with conversations expected to centre around e-commerce, it added.

Hitachi Vantara, Hitachi Consulting join hands to create digital infra, solutions powerhouse

Hitachi Vantara, a wholly-owned subsidiary of multinational conglomerate company Hitachi, has clubbed with consulting firm Hitachi Consulting, to create a new digital infrastructure and solutions powerhouse. This move will help customers develop practical, scalable digital strategies and solutions that transform operational processes, improve customer experiences and create new business models to drive innovation and growth, the press statement said. “Through the integration of Hitachi Consulting, Hitachi Vantara will be uniquely equipped with the capabilities our customers need to guide them on their digital journeys. We’re going to be the company that helps customers navigate from what’s now to what’s next,” Toshiaki Tokunaga, CEO and chairman of the board at Hitachi Vantara, said.

BharatPe unveils tech hub, to hire 75 product managers and engineers

Digital payments firm BharatPe has unveiled a tech hub in Delhi to house its expanded product and technology team. The company is planning to hire over 75 engineers and product managers in 2020 and thereby expand its tech team three times, it said in a statement. The New Delhi-based company said that it is spending over $0.5 million to decorate the space.  “The zero-MDR (merchant discount rate) policy change has positioned BharatPe from a challenger to a leader in the fin-tech space. While the fin-tech industry goes through denial, re-alignment, funding constraints and lay-offs over the next six months, BharatPe will use this time to pull ahead and capture the market. We are investing heavily in senior talent and tech talent,” Ashneer Grover, CEO and co-founder, BharatPe, said.

Gamerji picked for Qatar sports tech’s accelerator programme

Ahmedabad-based online e-sports gaming platform Gamerji has become the first Indian startup to be selected in the accelerator programme by Qatar Sports Tech, a Doha, Qatar-based sports-centric startup investor and accelerator. The Qatar Sports Tech runs an accelerator programme for startups that use cutting-edge technology to reshape the industry of sports. Among 1,600 startups from over 15 countries, Gamerji was among the top 10 chosen for the programme. Qatar Sports Tech will invest $150,000 in Gamerji and incubate the company while also creating a base in Qatar, opening avenues to the Middle East market. Gamerji was founded last year by Soham Thacker and Varun Gajjar.