13 January 2022, Mumbai:

India's retail inflation accelerated to a five-month high in December, but the central bank is widely expected to hold on to key policy rates next month amid concerns the fast-spreading Omicron variant of COVID may impact economic activities.

Consumer prices (INCPIY=ECI), buoyed by rising prices of food and manufactured items, rose 5.59% in December from a year earlier and compared with 4.91% in the previous month, Ministry of Statistics data showed on Wednesday.

REUTERS  (The news article has not been edited by DFU Publications staff)

Subscribe to our newsletter.

Follow us on Linkedin & Youtube. 

12 January 2022, Mumbai:

Business dropped up to 60%.
Rising Covid-19 cases and stringent state-level curbs have hit offline sales of products across discretionary categories such as personal care, beauty, furniture, consumer durables, sports goods, jewellery, footwear, and apparel.

Retailers selling discretionary products said their businesses have declined up to 60% in the last two weeks and there is uncertainty about how sales will pan out this month and even the next as the third wave has prompted several states to impose restrictions including night curfews.

Footwear and apparel brand Woodland's sales are down by almost 60% in the last fortnight with the peak season lost due to curbs like weekend curfew, shortened store operating hours, and lower footfalls, said Harkirat Singh, managing director of Aero Club that owns Woodland.

Source: ET dt 12-01-2022

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. 

Subscribe to our newsletter.

14 January 2022, Mumbai:

The National Company Law Appellate Tribunal (NCLAT) on Thursday refrained from granting Interim relief to US e-tailer Amazon in its plea challenging a Competition Commission of India (CCI) order that temporarily suspended the approval for its purchase of 49% stake in Future coupons (FCPL), an unlisted Future Group company.

Amazon has hinged its legal battle on the FCPL investment to block Future Group's sale of assets to Reliance Retail for Rs 25,000 crore Amazon had approached NCLAT on January 8 to challenge the CCI order after a division bench of the Delhi high court stayed ongoing arbitration proceedings before a Singapore tribunal.
Source TOI dt 14-01-2022

Subscribe to our newsletter.

Follow us on Linkedin & Youtube. 

13 January 2022, Mumbai:

The National Company Law Appellate Tribunal (NCLAT) will on Thursday hear a petition filed by e-commerce major Amazon challenging a recent order of fair trade regulator CCI that suspended an over two-year-old approval for its deal with Future Coupons.

Amazon's petition is scheduled to be heard by a two-member bench comprising Justice M Venugopal and V P Singh of the Principal bench.In December, the Competition Commission of India (CCI) had suspended its 2019 approval for Amazon's deal to acquire a 49-per cent stake in Future Coupons Pvt Ltd (FCPL), 

NSE -1.53 % Ltd's promoter, while slapping a penalty of Rs 202 crore on the e-commerce major.

NCLAT is an appellate authority for the orders passed by CCI.

ET (The news article has not been edited by DFU Publications staff)

Subscribe to our newsletter.

Follow us on Linkedin & Youtube. 

12 January 2022, Mumbai:

FabIndia’s latest launch is designed to offer customers garments which contribute to keeping the traditional and sustainable indigo dyeing process alive, the brand announced on Facebook.

Key highlights: 

• Fabindia announces the launch of initiative named ‘Kala Kapda Karigar’ on Facebook this month along with a new collection Indigo Diaries by Fabindia.  

• This initiative celebrates the, “indigenous art of Indigo Dyeing with ancient techniques that have been passed down over the generations,”.
• The collection includes striped trousers, floral print kaftans and smart-casual shirts available at Fabindia's online stores and brand outlets

New Initiative

Fabindia brand initiative named ‘Kala Kapda Karigar’ which translates as ‘Craft, Fabric Artisan’ and its first launch is a collection named Indigo Diaries by FabIndia.

This initiative celebrates “indigenous art of Indigo Dyeing with ancient techniques that have been passed down over the generations,” FabIndia announced on Facebook.

The line retails from FabIndia’s e-commerce store, where it has a dedicated section, as well as in its exclusive brand outlet stores.

Notable pieces in the collection include striped trousers and floral print kaftans for women and smart-casual shirts paired with scarves for men. The line also features homeware including cushion covers, throws, and curtains.

FabIndia has been expanding its product categories recently and also stepped into skincare with new launch FabEssentials.

11 January 2022, Mumbai:

The apex court has been hearing pleas including the fresh petition of Future Group against the Delhi High Court's recent order declining its plea for stay on an arbitration tribunal decision refusing.

The Supreme Court on Tuesday reserved verdict on a batch of pleas filed by Future Group firms against a Delhi High Court order declining stay on an arbitration tribunal decision refusing to interfere with the Emergency Award (EA) of the Singapore International Arbitration Centre (SIAC).

"We reserve the order. All the four SLPs (special leave petitions) are over. A lot of homework for us. Anyway, I will not write the lengthy judgment," a bench headed by Chief Justice N V Ramana said.

Initially, the bench, also comprising justices A S Bopanna and Hima Kohli, suggested to the counsels for Amazon and the Future group firms that the single-judge bench of the Delhi High Court be allowed to hear the statutory appeals of the Future group against the final arbitral award of the SIAC.

Business Standard

The apex court has been hearing pleas including the fresh petition of Future Group against the Delhi High Court's recent order declining its plea for stay on an arbitration tribunal decision refusing to interfere with the SIAC's EA, which restrained it from going ahead with the Rs 24,731 crore merger deal with Reliance Retail.

The SIAC, in the EA, had granted relief to US e-commerce major Amazon by restraining the Future from going ahead with the Rs 24,731 crore merger deal of Future Retail Ltd (FRL) with Reliance Retail. TOI

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. 

Subscribe to our newsletter. 

12th January 2021, 13:50, Mumbai:

Confederation of All India Traders (CAIT) on Tuesday urged the Delhi government to reconsider its decision of complete closure of private offices saying it will have an adverse impact on businesses and the employment situation in the national capital region.

Key Highlights

• CAIT sent a letter addressed to LG of Delhi Anil Baijal
• Plea: Don't close, Instead 50% capacity of the employees is allowed to work
• To be applied on the corporate sector & not on the offices of small businesses

In a letter addressed to Lieutenant Governor of Delhi Anil Baijal, CAIT suggested that "instead of closure, it will be appropriate if 50 percent capacity of the employees are allowed to work maintaining mandatory social distance and observing COVID safety protocols."

"It is further submitted that this order may be ordered to be applicable on corporate sector and not on the offices of traders and other small businesses," CAIT National Secretary General Praveen Khandelwal said in the letter.

Amid a surge in COVID-19 cases in the national capital, the Delhi Disaster Management Authority (DDMA) has directed that all private offices shall be closed except those that come under the exempted category.

Banks, insurance companies, courier services, non-banking financial corporations, and companies providing essential services will remain open. Earlier, private companies were allowed to function with 50 per cent of workforce.

CAIT said over 3 lakh offices operating in Delhi will be adversely affected from the DDMA order. On the work from home, CAIT said, "there are a large number of traders who are operating their business activities through their offices and are not on digital mode.

In such cases, the work from home policy will not work." (ANI)

Subscribe to our newsletter.

Follow us on Linkedin & Youtube. 

10 January 2022, Mumbai:

Retailers Keeping only 15 days' stock of apparel etc to reduce the impact on biz states imposed restrictions

Manufacturers of apparel and footwear said based on the experience of the past two Covid-19 waves, most retailers and distributors want to hold 15 days of inventory instead of 30 days to ensure there is no impact on their cash flow in case the business dips.

Makers of apparel say poor stocking will hit Q4 revenue.

Some dealers feel brands may have to defer price hikes.

SOURCE: ET Dt 11-02-2022

(The news article has not been edited by DFU Publications)

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. 

Subscribe to our newsletter.