Here are the India Business News Headlines 27th September 2017:
- Dabur has joined Amazon.com to sell its products in the overseas markets. To begin with it would be selling 30 products on Amazon.com to consumers in US, Canada and Mexico. Although Dabur’s products are already available in US through ethnic stores, this tie-up will help them to tap more consumers through Amazon’s wider reach.
- Google Cloud is banking on its machine learning and artificial intelligence prowess to win customers and compete with Amazon Web Services and Microsoft Azure. Google has vast swathes of user data, due to popular services such as Android, Google Search, Gmail and YouTube. It is trying to sell its service by using tools that it says are tuned specifically for Indian users.
- Early-stage venture capital firm Blume Ventures is ready to launch its third fund for which it is planning to raise $80-100 million by the first quarter of 2018. It has so far funded about 75 companies, including robotics firm GreyOrange, test preparation start-up MockBank, background verification firm IDfy, online learning platform Unacademy, travel app RailYatri.
- Cricketer Chris Gayle has picked up a minority stake in augmented reality start-up FlippAR for an undisclosed amount. He will be joining the company board and promote its products as Company’s brand ambassador.
- Navin Budhiraja, Infosys senior VP and head of technology, has resigned. His resignation does not come as a complete surprise, given that a number of Vishal Sikka loyalists, who had followed him from SAP AG, were expected to resign.
- Chanda Kochhar and Shikha Sharma have made it to the rankings of most powerful women in business outside the United States released by the Fortune magazine. Indra Nooyi featured in the top three on the US edition list.
- India remains the most competitive country in South Asia, appearing at No. 40 in the global competitiveness ranking of 137 countries by the World Economic Forum.
- Reliance Capital, the non-banking finance company of the Reliance Anil Dhirubhai Ambani Group, will be setting up a standalone health insurance firm. The firm has already received initial approval from the insurance regulator.
- Paytm Mall has initiated discussions with Asian and US investors to raise Rs.4000 Crore. Eyeing for the 3rd spot in the e-commerce segment, Paytm is working on acquisitions and strategic investments.
- Flipkart has acquired FI Info Solutions to expand their capabilities in the mobile service domain. FI Info Solutions is a neutral service provider with a distributed repair service network of around 158 centres in 135 cities.
Important Trade Exhibition
India Mobile Congress- 26, 28 & 29th September 2017 at Pragari Maidan, New Delhi
*News as published in Business Standard, Live Mint and Economic Times.