IndiaMART

IIM Indore’s 2015 batch sees 130 companies recruiting 508 students

The Economic Times

MUMBAI: IIM Indore ‘s batch of 2015 saw 130 companies recruiting 508 students. The placement for the largest batch from an IIM , got over on 20th of February and had 42 first time recruiters.

There were a total of 93 pre-placement offers, a 52% increase compared to last year, stated the college. The highest domestic package offered was Rs 35 lakh while the highest international package was Rs 43.6 lakh. Deutsche Bank, Goldman Sachs, J.P. Morgan and Royal Bank of Scotland together rolled out more than 40 offers. Axis Securities, American Express, Citibank, Edelweiss, Futures First, HDFC, HSBC, ICICI BankBSE -1.07 %, IL & FS, Standard Chartered and Yes BankBSE -0.81 % recruited for roles in Credit Risk, Investment Banking, Private Banking, Retail Banking and Wealth Management, said the college in their statement.

Boston Consulting Group, Deloitte, Ernst & Young, KPMG and McKinsey & Co represented the consulting industry. Cognizant Business Consulting, Infosys Management Consulting, KPMG and TCS Global Consulting rolled out double digit offers across multiple divisions.

The e-commerce sector rolled out one-tenth of total offers from likes of Flipkart, IndiaMART, Olacabs, Meru Cabs, Shopclues, Snapdeal, TaxiForSure and Urban Ladder. FMCG recruiters included Britannia, Dabur, Godrej & Boyce, Hindustan Unilever, ITC, L’Oreal, Marico, PepsiCo, Pidilite and Tolaram Group gave multiple offers.

Google and IBM were the prominent recruiters in the Technology sector. Some of the others were Accenture Technology, Aspire Systems, Computer Sciences Corporation, Capgemini, Hexaware, Mahindra Comviva, MAQ Software, Mindtree and Wipro recruited for IT consulting and Product Management roles.

Read more at http://economictimes.indiatimes.com/

Budget silent on e-commerce

Business-Standard

Budget silent on e-commerce

Budget silent on e-commerce

Measures proposed on taxation or start-ups may benefit online retailers, but there were no sector-specific measures for the sector

The e-commerce sector failed to find a place in the Budget for 2015-16.

Measures proposed on taxation or start-ups may benefit online retailers, but there were no sector-specific measures for the sector. Sectors that made it to the budget over e-commerce were leather footwear, which received a reduction in excise duty; incense sticks, which received some exemptions from excise duty; yoga, which was included in the ambit of charitable purpose; and gutkha, which saw an increase in excise.
Read our full coverage on Union Budget

“The budget was mostly silent on e-commerce,” said Dinesh Agarwal, founder and chief executive officer of IndiaMART.

“There was no clarity over tax on e-commerce transactions across states.”

The closest that Finance Minister Arun Jaitley came to mentioning the e-commerce industry was when he spoke about startups and the need to nurture them. However, experts believe even the measures that were announced for startups were unlikely to be of much relevance to online retailers.

Several large online retailers said they did not have “much to say about the budget”. “We looked at the budget really closely, and there was nothing for the e-commerce sector,” said an executive of a prominent e-tailer requesting anonymity.

The one announcement that brought cheer to e-tailers was the government’s commitment to rolling out the goods and services tax (GST) from April 1, 2016. This will bring some respite to an industry that has been battling archaic tax laws.

“The assurance to speed up GST is a welcome announcement for the industry as it will boost the country’s manufacturing competitiveness,” said Radhika Aggarwal·, co-founder and chief marketing officer at ShopClues. “The budget has reinforced the government’s progressive and liberal stance that will fuel growth and global investors’ sentiment for In··dia.”

Aggarwal, however, added the decision to raise the service tax to 14 per cent could be a damper for e-commerce. Some experts raised concerns over the fact that the GST rollout had been delayed by several years.

E-commerce industry does not get FDI clarity, but optimistic on Goods & Services Tax

The Hindu Business Line

Companies bank on better infrastructure

MUMBAI/BENGALURU, FEBRUARY 28:
E-commerce sector may be buzzing with deals and sales, but it did not sizzle on the Budget day.

The only bright spark for $15 billion industry was the Government’s commitment to implement the much delayed GST by April 2016.

Apart from the GST promise, incentives for credit and debit card transactions and investment in roads infrastructure will indirectly contribute to the sector’s growth, said Ashish Jhalani, Founder of consultancy firm E-tailing India.

GST clarity
GST will help e-commerce companies rationalize supply chains by addressing the taxation issues. In addition steps announced But as Dinesh Agarwal, Founder & CEO, IndiaMART.com, points out, “There is no clarity on the implementation of GST. The industry needs a single, common tax regime at the Centre for all e-commerce transactions.”

Finance Minister Arun Jaitley also announced plans to address infrastructural challenges, to improve connectivity in the hinterlands under the Digital India Program by accelerating the roll out of NOFN (national optical fibre network) across all 2.5 lakh village.

“If these plans can be effectively executed on the ground, it will provide a fillip to the digital/ ecommerce sector,” said Ashvin Vellody, Partner, Grant Thornton.

Kunal Bahl, co-founder and CEO, Snapdeal.com added that the Government should build a framework of measurable metrics to continuously monitor and augment the policy.

E-commerce firms will benefit from a better infrastructure, which will help them reach their customers faster. Similarly, the announcement of RuPay credit and debit cards will lead to a cashless economy thus boosting the ecommerce transactions and its dependence on cash on delivery, says Jhalani.

“Now e-commerce players will not have to incur the extra cost, time and risk of COD (cash on delivery) payments, as and when all-card transactions become a reality,” added Agarwal. But apart from their bright spots, the larger disappointment among the companies is evident. Sitakant Ray, founder of price comparison site MySmartPrice said, “For ecommerce in particular, while the dream of a tax holiday or FDI hasn’t come true.”

Read more at http://www.thehindubusinessline.com/

Hike in service tax may affect e-commerce

The Hindu

The hike in the service tax rate in the Union Budget for 2015–16 from 12.36 to 14 will impact online buyers.

The hike may be passed on to the customers, which will result in a higher rate while shopping online.

Praveen Sinha, founder and MD, Jabong.com, said, “The government’s decision to hike service tax rate is a disappointing move.”

The hike is likely to impact the nascent taxi aggregator segment also as the traveller may need to pay more.

‘Tax burden will increase’

Raghunandan G., CEO and cofounder, TaxiForSure, said, “If the government is going to raise the tax burden so significantly, it may only increase the cash burn in the system, thereby reducing our efficiencies. We can opt to pass this on to our customers, however, this step may push them away from our services, as the cost to the customers may increase. We hope the government would have taken this step in tandem with the introduction of the Goods and Service Tax (GST).”

Ashvin Vellody, partner–management consulting, KPMG, said, “The expectations from the e-commerce industry stakeholders from the Union Budget were definitely high this year, and while the Finance Minister provided a set of welcome measures, he stayed away from big bang policy announcements specific to this space. The sector expected welcome announcements on GST, and on creation of a conducive environment for foreign investment inflow and improvement in ease of doing business.”

GST implementation

According to Brijesh Agrawal, co-founder, IndiaMart, specifying a clear date of GST implementation is expected to give a huge boost to the e-commerce space. “GST implementation will ensure single marketplace which will break tax barriers between States, bringing in a uniform tax rate across the country. Overall benefits received by the sector would be sufficient to offset the rise in service tax clause,” he said.

The hike is likely to impact the nascent taxi aggregator segment also as the traveller may need to pay more

Read more at http://www.thehindu.com/

IndiaMART inducts Lizzie Chapman on its board

New Delhi, Feb 18 (IANS) Lizzie Chapman, executive director, DBS Digital Bank, has been appointed a director on the board of online marketplace IndiaMART, a statement by the latter said here Wednesday. “As IndiaMART continues to grow, Lizzie’s thorough expertise would lend a unique perspective to help drive the new initiatives being undertaken by us and further accelerate the company’s growth. We look forward to her valuable contribution as we move ahead with our vision of improving the ease of doing business in the country,” Dinesh Agarwal, founder and chief executive officer, IndiaMART said.

“Her position would entail providing strategic inputs and direction to further enhance the growth and development of IndiaMART. With her appointment, Lizzie becomes the first woman director to be on the company’s board, which has now been expanded to six directors,” the statement said.

IndiaMART offers a platform and tools to over 1.5 million suppliers to generate business leads from over 10 million buyers, who use the platform to find reliable and competitive suppliers.

The company has over 2,600 employees in over 40 offices in the country.

“This is a pivotal time for the company, where we have an opportunity to really capitalise on the powerful platform that has successfully empowered businesses over the last two decades. I am looking forward to being a part of an organisation that so passionately embraces diversity and corporate governance,” said Chapman.

Read more at http://news.chennaionline.com/

IndiaMART inducts Lizzie Chapman on its board

New Delhi, Feb 18 (IANS) Lizzie Chapman, executive director, DBS Digital Bank, has been appointed a director on the board of online marketplace IndiaMART, a statement by the latter said here Wednesday.

“As IndiaMART continues to grow, Lizzie’s thorough expertise would lend a unique perspective to help drive the new initiatives being undertaken by us and further accelerate the company’s growth. We look forward to her valuable contribution as we move ahead with our vision of improving the ease of doing business in the country,” Dinesh Agarwal, founder and chief executive officer, IndiaMART said.

“Her position would entail providing strategic inputs and direction to further enhance the growth and development of IndiaMART. With her appointment, Lizzie becomes the first woman director to be on the company’s board, which has now been expanded to six directors,” the statement said.

IndiaMART offers a platform and tools to over 1.5 million suppliers to generate business leads from over 10 million buyers, who use the platform to find reliable and competitive suppliers.

The company has over 2,600 employees in over 40 offices in the country.

“This is a pivotal time for the company, where we have an opportunity to really capitalise on the powerful platform that has successfully empowered businesses over the last two decades. I am looking forward to being a part of an organisation that so passionately embraces diversity and corporate governance,” said Chapman.

Read more at http://www.mangalorean.com/

IndiaMART inducts Lizzie Chapman on its board

New Delhi, Feb 18 (IANS) Lizzie Chapman, executive director, DBS Digital Bank, has been appointed a director on the board of online marketplace IndiaMART, a statement by the latter said here Wednesday.

“As IndiaMART continues to grow, Lizzie’s thorough expertise would lend a unique perspective to help drive the new initiatives being undertaken by us and further accelerate the company’s growth. We look forward to her valuable contribution as we move ahead with our vision of improving the ease of doing business in the country,” Dinesh Agarwal, founder and chief executive officer, IndiaMART said.

“Her position would entail providing strategic inputs and direction to further enhance the growth and development of IndiaMART. With her appointment, Lizzie becomes the first woman director to be on the company’s board, which has now been expanded to six directors,” the statement said.

IndiaMART offers a platform and tools to over 1.5 million suppliers to generate business leads from over 10 million buyers, who use the platform to find reliable and competitive suppliers.

The company has over 2,600 employees in over 40 offices in the country.

“This is a pivotal time for the company, where we have an opportunity to really capitalise on the powerful platform that has successfully empowered businesses over the last two decades. I am looking forward to being a part of an organisation that so passionately embraces diversity and corporate governance,” said Chapman.

Read more at http://www.houstonindian.net/

IndiaMART inducts Lizzie Chapman on its board

New Delhi: Lizzie Chapman, executive director of DBS Digital Bank, has been appointed a director on the board of online marketplace IndiaMART, a statement by the latter said on Wednesday.

“As IndiaMART continues to grow, Lizzie’s thorough expertise would lend a unique perspective to help drive the new initiatives being undertaken by us and further accelerate the company’s growth. We look forward to her valuable contribution as we move ahead with our vision of improving the ease of doing business in the country,” Dinesh Agarwal, founder and chief executive officer, IndiaMART said.

“Her position would entail providing strategic inputs and direction to further enhance the growth and development of IndiaMART. With her appointment, Lizzie becomes the first woman director to be on the company’s board, which has now been expanded to six directors,” the statement said.

IndiaMART offers a platform and tools to over 1.5 million suppliers to generate business leads from over 10 million buyers, who use the platform to find reliable and competitive suppliers.

The company has over 2,600 employees in over 40 offices in the country.

“This is a pivotal time for the company, where we have an opportunity to really capitalise on the powerful platform that has successfully empowered businesses over the last two decades. I am looking forward to being a part of an organisation that so passionately embraces diversity and corporate governance,” said Chapman.

Read more at http://www.seattleindian.com/

IndiaMART inducts Lizzie Chapman as a director on the Co’s board

IndiaMART, online marketplace in India, has appointed Lizzie Chapman as a Director to the company’s board. Her position would entail providing strategic inputs and direction to further enhance the growth and development of IndiaMART. With her appointment, Ms Chapman becomes the first woman director to be on the company’s Board, which has now been expanded to six directors.

“We are very pleased to welcome Lizzie on our Board. As IndiaMART continues to grow, Lizzie’s thorough expertise would lend a unique perspective to help drive the new initiatives being undertaken by us, and further accelerate the company’s growth. We look forward to her valuable contribution, as we move ahead with our vision of improving the ease of doing business in the country,” said Dinesh Agarwal, Founder & Chief Executive Officer of IndiaMART.

Ms Chapman started her career at Goldman Sachs in equity research and asset management. She then moved to Mumbai in 2011 to start the Indian operations of Wonga.com. She has also been a founding member of the direct private investment team at The Wellcome Trust. Prior to joining IndiaMART, Ms Chapman was the Executive Director at DBS Digital Bank.

“I am excited to join the Board of one of the most recognised and established digital brands in India. This is a pivotal time for the company, where we have an opportunity to really capitalise on the powerful platform that has successfully empowered businesses over the last two decades. I am looking forward to being a part of an organisation that so passionately embraces diversity and corporate governance,” said Ms Chapman on her appointment.

“SMEs (small and medium sized enterprises or businesses) have now been increasingly participating in the online channel. IndiaMART, as the leading digital platform for SMEs, plays an influential role in taking new products and services to this segment,” added Amit Behl, Director, Intel Capital and a key Investor in IndiaMART.
IndiaMART’s Board now consists of six Directors – Dinesh Agarwal, Brijesh Agrawal, M.K. Chouhan, Rajesh Sawhney, Dhruv Prakash and Lizzie Chapman

Read more at http://www.digitalmarket.asia/

Lizzie Chapman joins IndiaMART, becomes first woman director on board

She would be responsible for strategic inputs and direction to propel the growth and development of the company.

Lizzie Chapman, executive director of DBS Digital Bank, has become the first woman to be appointed as the director on board in IndiaMART, the online marketplace for SME players. She would be responsible for strategic inputs and direction to propel the growth and development of the company.

Being actively involved in startup landscape, Lizzie also serves as an advisor to a number of companies including SME finance provider Capital Float.

Lizzie started her career at Goldman Sachs in equity research and asset management. She moved to Mumbai in 2011 to start the Indian operations of Wonga.com. She has also been a founding member of the direct private investment team at The Wellcome Trust.

IndiaMART’s board now consists of the following six Directors – Dinesh Agarwal (Founder & CEO, IndiaMART), Brijesh Agrawal (Co-Founder & Director, IndiaMART), M.K. Chouhan (MD, Mahendra & Ardneham Consulting (P) Ltd.), Rajesh Sawhney (Founder, Super Angels of India), Dhruv Prakash (Former Managing Director (India) – Leadership and Talent Consulting, Korn/ Ferry International) and Lizzie Chapman (Executive Director, DBS Digital Bank).

Read more at http://retail.economictimes.indiatimes.com