January 14, 2020
Newly signed Work Plan 2020 strengthens economic and technical cooperation between both countries
Benefits include cooperation on standards, technical regulation, certification, and market surveillance in key economic areas
The Group also presented a paper on analysing cybersecurity aspects of IoT enabled devices
Since 2013, the Group has strengthened regulation dialogues, increased product safety, and reduced technical barriers to trade
Flipkart announces the inauguration of two new fulfilment centres (FCs), strengthening its supply chain infrastructure with further expansion of its presence in North India. Located in Haryana, spread across 900,000 sq ft, the FCs will be amongst the two largest ones set up by India’s leading e-commerce marketplace, according to an official release from the company. Establishment of these FCs will enable Flipkart to scale up its delivery and supply chain logistics, connecting thousands of sellers and MSMEs in Haryana with a national market of customers located across the country.
The new FCs will bring Flipkart’s tally of assets in Haryana to 12, spread across 2 million sq ft, creating a robust supply chain infrastructure for both large appliances and non-large appliances for every consumer. In reference to figures from the last festive season, Flipkart identified Haryana as a pivotal logistics hub, servicing up to 40 per cent of total orders received from across India during that period.
In addition, the investment in Haryana is set to create over 5,000 jobs, including employment opportunities for women and people with disabilities. With over 10,000 individuals currently employed by Flipkart in the state, the company has played a role in contributing to improved employment in the region. Through its partnership with the Logistics Skill Sector Council of the National Skill Development Corporation, the company is providing detailed training on supply chain management and delivery to support capacity building and overall skill development in individuals.
India’s rapidly growing e-commerce market is expected to reach US$120 billion by 2020, up from US$33 billion in 2016, owing to increasing digital connectivity, rising awareness of services, and improving affordability of products. In addition to this, policy amendments to allow 100 per cent foreign investment in online retailing of products ensures India’s ability to continue generating investor interest in its e-commerce market.