Commerce and Industry Minister Piyush Goyal on Thursday asked e-commerce players to strictly adhere to FDI norms, saying it “certainly does not look and feel and smell right” when a company makes a loss of Rs 6,000 crore on a turnover of Rs 5,000 crore. Goyal, who had earlier remarked that e-commerce giant Amazon was not doing any favour to India by announcing USD 1 billion investment in the country as they are financing their losses, also reiterated that neither the Competition Commission of India (CCI) nor his ministry would have to probe on fair trade practices if e-commerce players “can stick within the letter and spirit of the law”.

Publication: Outlook India

Date: February 13, 2020

One of the more talked-about taxation issues in recent times has been taxation of the digitized economy. While the OECD, through its base erosion and profit shifting or BEPS project, is working with more than 130 countries to arrive at a consensus-based approach for determining the tax rules in the digitized world, countries have been introducing unilateral measures. India was one of the earliest movers and started changing the tax laws aimed at the taxation of digitized companies with the introduction of an Equalisation Levy a few years back.

Publication: Bloomberg Quint

Date: February 13, 2020

Jon Abrahamsson Ring, a former assistant to furniture retailer IKEA’s founder Ingvar Kamprad, has been named the new chief executive officer (CEO) of the Inter IKEA Group, the company said Tuesday. Abrahamsson Ring, 45, will take over the reins on September 1, replacing Torbjorn Loof, 54, who resigned after seven years at the head of the group, it said in a statement. Under Loof’s management, the Swedish flat-pack furniture company expanded into 15 new markets and is scheduled to open its first South American store in Chile next year.

Publication: Yourstory

Date: February 12, 2020

Startups are faster and more flexible than mature and traditional businesses. Angel investment networks are easy, convenient and time-saving channels to invest in startups. Startups seek the guidance of subject matter experts and are able to pay for short-term consulting. “I measure my performance in the startup ecosystem by my LOI—learning on investment”~Dr. Aniruddha Malpani, Renowned angel investor.

Publication: Inc42

Date: February 13, 2020

IKEA’s love affair with India may have hit a speedbump. On Jan. 15, the Swedish company recalled millions of its “Made in India” Troligtvis travel mugs from 400 stores globally as “test reports showed that the product may (contain) migrate levels of chemicals exceeding the prescribed limits.” “The risk of any immediate negative health effect is very low but IKEA urges customers that have the travel mug to return the product to any IKEA store for a full refund,” the company said in a statement.

Publication: Quartz India

Date: February 12, 2020