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Amazon To Deliver Liquor Online In West Bengal

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Amazon To Deliver Liquor Online In West Bengal


In what could be considered as a game changing move, e-commerce giant Amazon secured clearance to deliver liquor in the Eastern state of West Bengal.  The news comes according to a notice put out by the West Bengal State Beverages Corp, the state’s authorized agency to carry out online retail of liquor, on Friday.  The notice also said Amazon was one of the companies found to be eligible for registration with the authorities.

This move is significant as Indians consume a huge amount of alcohol but online deliveries have been prohibited, until now.  West Bengal is India’s fourth populous state and has a population of more than 90 million people.  Amazon was invited to sign a Memorandum of Understanding with the West Bengal state.  According to the estimates by IWSR Drinks Market analysis, the market Amazon is looking to make inroads into, is worth $27.2 billion dollars.

When the COVID-19 pandemic reached India, the Government declared a complete lockdown and sale of alcohol was completely prohibited.  When the lockdown rules were relaxed and the alcohol shops were allowed to happen, India witnessed a rush to the liquor stores like never before.  Following the reopening of wine stores, some States have allowed Swiggy and Zomato to deliver alcohol and the food delivery giants cashed in on the heavy demand.  

Each state sets its own alcohol sales policy.  West Bengal last month invited companies to express interest in “handling electronic ordering, purchase, sale and home delivery of alcoholic liquors from licensed retail outlets” to eligible legal-age consumers in the state.  Grocery delivery major, Big Basket also won approval to deliver alcohol in West Bengal state.

Let us know if you think India will allow online alcohol delivery in the future.

 

 

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The Rise Of Gig Economy In India 

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The Rise Of Gig Economy In India 

India is notorious for churning out graduates from colleges at a very high rate and the education system in India is always under fire for not focusing on all round development but on marks and grades, instead.  This is a growing concern as there are not enough jobs available to accommodate all the graduates passing out from college.  However, the Indian millennial is a smart individual and when put under pressure, a millennial is capable of coming out of it better.  So, what did the Indian millennial do when there were less opportunities and did not want to be part of the rat race?  They turned to taking up gigs and that spawned an entire economy and industries to flourish.

Gig economy can be defined as a work engagement where on one side, there is a service seeker that is a consumer with a demand for a specific task, and on the other side, there is a service provider that is. a gig worker who can perform that specific task.  The gig economy was able to flourish solely because of the advent of digital platforms which were able to connect a service seeker with a provider.   More and more Indians are looking to escape from the monotony of a 9 to 5 desk job and instead take up freelance gigs which complement their skills.  

In order to put the gig economy into simpler terms, here are some examples.  An individual who likes to drive cars would consider working with Uber as a driver partner to earn some extra bucks.  An individual who is good at playing the guitar would consider performing in live shows with a band to earn extra money.  A person who is good at painting would consider selling their art for extra money.  The gig ecosystem offers the millennial an outlet to escape monotony and pursue their passion instead. 

The gig economy could only thrive when there are digital platforms which are able to connect the supply with the demand.  The digital gig economy generated a gross volume of approximately $ 204 billion from worldwide customers in 2018.  India has emerged as the 5th largest country for flexible staffing after the United States of America, China, Brazil and Japan.  Haryana, Madhya Pradesh, Andhra Pradesh, Gujarat and Telangana have the most opportunities in terms of growth for the flexible workers.

ALSO READ: Indian Startups Face Their Biggest Challenge As 70% Of Them Have Less Than 3 Months Of Runway Cash

Gig economy allows task ownership, convenience and flexibility.  Based on tastes and preferences, an individual can determine the number and type of projects they can work on, the quantum of their earnings, and thus, their work-life balance.  For example, an individual who took on five gigs in one month could take only three gigs the next month to balance life at their regular job.

The gig economy has a disruptive model to connect sellers and buyers for almost all kinds of skills and services.  While the size of the gig economy may seem marginal when compared to the traditional economy, it is recognized for its enormous potential with the desire of workers, specially millennials to have a flexible work schedule and the rise in the on demand consumer services.  Of In India, almost 70% corporates have already used gig workers for at least one task in 2018.

In India, a platform called Lemonop, is setting an example in the gig economy by providing a platform for students and working professionals to look for gigs of their liking.  There are plenty of other platforms like Lemonop which are slowly bridging the gap between talent and job demand.

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Mukesh Ambani Enters Top Ten Billionaires List

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Mukesh Ambani Enters Top Ten Billionaires List

Mukesh Ambani is the head of India’s biggest Petrochemical and Telecommunications giant Reliance Industries Limited.  Mukesh Ambani also achieved a new milestone in his splendid career as he broke out into the World’s Top Ten Richest Billionaires list for the first time in his career.

Mukesh Ambani entered the high profile and exclusive club of billionaires as his net worth jumped to $ 64.5 billion which catapulted him to the exclusive list of the richest billionaires in the world.  Mukesh Ambani is now the ninth richest billionaire in the world as he beats Google co founder Larry Page.  Mukesh Ambani also holds the distinction of the only Asian tycoon in the exclusive list of World’s Top Ten Billionaires.

Mukesh Ambani is riding on the back of a series of investments into the company’s digital unit, Jio Platforms Ltd., which Reliance claimed made the company net debt free and also proved the COVID-19 pandemic has not affected the fortunes of Reliance Industries.

While a crash in oil prices caused uncertainty in a stake sale of Reliance’s oil and chemicals division, in just two months Jio managed to attract some $ 15 billion which is more than half the investment into telecom companies worldwide this year.  A report by popular equity and brokerage firm Sanford C. Bernstein predicted Jio is likely to capture 48% of India’s mobile subscriber market share by 2025.

Mukesh Ambani has an unmatched drive to become the biggest and the best industry leader in India as well as the world.  In India, Reliance officially became the biggest petrochemical company last year, when it surpassed government owned Indian Oil Corporation to become the country’s largest company by revenue.  Mukesh Ambani said “No power on Earth can stop India from rising higher (sic.)” during Reliance Industries latest Annual General Meeting (AGM.)

 

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Indian Startups Face Their Biggest Challenge As 70% Of Them Have Less Than 3 Months Of Runway Cash

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Indian Startups Face Their Biggest Challenge As 70% Of Them Have Less Than 3 Months Of Runway Cash

We live in the age of technology where the internet was able to bridge the gap between consumers and business.  This gave rise to new technologies which meant there was a lot of room for new businesses to pop up and that was what happened in the recent past.  Startups have been mushrooming rapidly to meet the demand in various sectors and it is safe to say that we live in the age of information technology and startups.  The startup ecosystem was a thriving sector until the whole world came to a standstill when the COVID-19 virus began spreading across the globe.  

Governments went into emergency mode and with no vaccine available and none in sight for the near future, governments declared strict lockdowns and curfews with the hope to stop the spread of the virus.  The Indian Government announced the first lockdown on March 24th and has since extended it till the end of June while easing some restrictions.  The first two months were the hardest and the economic impact was the hardest on travel, events, movies, sporting, rental and transportation industries.  As the lockdown is slowly easing the actual impact of the COVID-19 on startups is beginning to show.  The National Association of Software and Service Companies (NASSCOM) conducted a survey to study the impact of the COVID-19 crisis on Indian Startups.

The survey shows that

  • 90% of startups registered a decline in revenues.
  • 70% of these startups have less than 3 months of cash runaway.
  • 30-40% of startups have suspended their operations.

The survey also showed that 70% of travel related startups have faced 40% decline in revenue, 50% of Fintech and logistics have seen a similar dip in revenues while 14% of edtech and health tech startups expect revenue growth amid COVID-19 crisis.  The survey also suggests that early and mid stage business are the most affected segments, especially in B2C (business to consumer) space.  It also found that around 60% of B2C startups were facing closure as revenues plummeted to near zero levels after businesses were forced to shut down for nearly 2 months, because of the lockdown.

The president of NASSCOM Debjani Ghosh said “However, it is not all doom and gloom; more than half of the start-ups are looking to pivot to new business opportunities, diversify into growth verticals like healthcare, and enhancing focus on emerging tech like Artificial Intelligence, Internet of Things (IoT), Cloud (sic.)”  She also added, “to ensure that the Indian start-up movement and its growth trajectory is not derailed, coordinated support from key stakeholders is the need of the hour.  Some of our key recommendations to the government include access to working capital, easing compliances and fiscal policy and funding support (sic.)”

The Indian Government took note of the economic situation and has announced a whopping 20 lakh crore rupees as part of the AtmaNirbhar Bharat package which would be used to help various industries and sectors.  The Government also called for buying products which are made from locally sourced materials once again stressing on the need for ‘Make In India.’  This is a test for startups to prove their mettle and emerge stronger from this crisis.

 

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