ETtech Morning Briefing: Amazon India biz valuation, Paytm Mall services & more

Amazon’s India business could be valued at $16 billion

What’s the news?

Amazon’s India business valued at $16 billion right now and is expected to reach $70 billion in gross merchandise volume (GMV) and $11 billion in net sales by 2027, according to a report by Citi Research.

Why is it interesting?

The development comes as US retailer Walmart said it plans to acquire 77% stake in India’s largest retailer Flipkart, valuing the company at $20-22 billion.

This means that Amazon India is not only catching up with Flipkart in market share, but also in valuation.

Captive centres overtake Indian IT firms in hiring

What's the news?

Captive centres in India of global firms have hired nearly 1.3 lakh people last year and they have overtaken for the first time in a decade the number of people hired by Indian IT services and back-office companies, said industry experts.

Why this shift?

The shift is attributed to a sharp rise in hiring by existing and the new global in-house centres (GICs) due to technology innovation activities in India for their global markets.

IT services industry body Nasscom said the IT-BPM sector witnessed a decline in hiring as Indian IT services companies such as Infosys, Tata Consultancy Services, Wipro, HCL Technologies and others shifted focus from “scale to skill”.

Raw Pressery raises $10 million

What's the news?

Organic cold-pressed juice and beverage maker Raw Pressery has finalised an investment of Rs 65 crore (about $10 million) from existing investors Sequoia Capital, Saama Capital, and DSG Consumer Partners as it looks to expand its footprint across international markets significantly.

Where will this capital be used?

Mumbai-based Raw Pressery is looking to use the capital to expand its international footprint to Southeast Asia and also strengthen its distribution and supply chain as it looks to scale up new offerings.

The company is also in the process of setting up a production plant in West Asia to expand its recently launched operations in Qatar, Abu Dhabi, and Dubai.

Paytm Mall launches services to complement its O2O services

What's the news?

Paytm Mall has launched a slew of services, including no-cost every month installments, extended warranty, device insurance and easy exchanges, for white goods and mobile phones, as the SoftBank Group and Alibaba Group-backed e-commerce operator looks to complement its offline-to-online (O2O) platform.

What's the plan?

Paytm Mall will offer EMIs of Rs 1,000 crore across two million products from 60 brands. It will also offer easy exchange across 7,000 pin codes and affordable device insurance, extended warranty services across 75,000-plus partner retail stores.

The company has partnered with some of the largest white goods manufacturers, such as Samsung, LG, Panasonic, and Symphony, and has also brought in financial partners, including ICICI Bank and Bajaj FinServe, into the fold.