Paytm marks measurable progress in auto segment: Paytm, the largest payment and commerce platform, has shown great potential in the Cars and Bike category by clocking a galloping triple growth in online purchases. The company sold over 1000 bikes in the month of April this year, while contributing to 5 percent of Hero Electric’s pan India total month sales. Orders for two-wheelers came from over 100 different cities spread across 18 states in April. Click here to read more.
Indian E-commerce industry is fastest growing in the world: Being driven by a young demographic profile, increasing internet penetration and relative better economic performance, India’s e-Commerce revenue is expected to jump from $30 billion in 2016 to $120 billion in 2020, growing at an annual rate of 51%, the highest in the world, according to a joint ASSOCHAM-Forrester study paper. Click here to read more.
OYO Rooms plans to triple inventory by December: Buoyed by increase in booked room-night transactions by 15 times in the first quarter this year, online aggregator of branded hotels, OYO Rooms is planning to triple its inventory by December. Click here to read more.
Snapdeal grows 90%: Leading e-commerce company Snapdeal has recorded a 90 per cent year-on-year growth in its gross merchandise value (GMV) in FY16, according to data from SoftBank on its India investments. Around a year ago, Snapdeal’s GMV was pegged at $2 billion and a 90 per cent growth takes it to $3.8 billion. In FY15, Snapdeal had grown 300 per cent, according to a SoftBank report last year. Click here to read more.
Tourist arrival on E-Visa increased 266 percent in April 2016: The number of foreign tourists visiting India using e-tourist visas has increased exponentially as 70,045 tourists arrived last month as compared to 19,139 during the same period last year, registering a growth of 266 per cent. Click here to read more.