Here are the India Business News Headlines as on 7th July 2017:
- Right after the investment of Rs 1,680 cr in Indian online business, Amazon has infused Rs 341 crore into India wholesale business through its wholesale B2B arm, Amazon Wholesale India.
- Wipro, one of the first IT companies to set up operations in West Bengal, may quit West Bengal as Mamata Govt. has denied SEZ status to its 2nd campus. Wipro had been demanding an SEZ status and withheld further investment in the state even though it had 50 acres of land.
- Microsoft is planning to cut 3,000 jobs globally. The layoffs will mostly affect sales.
- Hinduja Media Ventures plans to roll out value-added services like the pre-paid paper view and video on demand over a period of two months. The company is also aiming to launch IPTV services on laptops and mobiles on its OTT technology platform.
- The first six months of 2017 witnessed deals worth a total of $11.33 billion. Marquee transactions such as the $1.4 billion investment in Flipkart by Tencent, eBay and Microsoft, the $1.4 billion investment by SoftBank in Paytm parent One97 Communications and a $951 million stake acquisition in Bharti Infratel by KKR and Canadian Pension fund CPPIB topped the list.
- Online grocery startup Jumbotail has raised $8.5 million in a funding round led by venture firm Kalaari Capital with the participation of Nexus Venture Partners. Funds will be used to enhance technology and operational capabilities.
- Flipkart is planning to enter the brick-and-mortar space to boost slowing down online growth. Initially it will work as a master franchisee for foreign brands and sub-license the franchisees.
- Epigamia, a Greek yogurt maker in Mumbai, has got fresh round of funding of Rs.90 crore from its existing investor Verlinvest, the Belgium based investment holding company. Funds will be used to set up a production facility in South India.
*News as published in Business Standard, Live Mint and Economic Times.