PhonePe Reevaluates Ecommerce Approach
PhonePe has decided to discontinue operations in multiple categories, including fashion, grocery, and electronics, on the Open Network for Digital Commerce (ONDC). The decision is attributed to PhonePe’s evaluation of the consumer experience on ONDC, which is currently deemed inferior to other delivery apps. PhonePe Pincode, a grocery delivery service, had delivered nearly 6 lakh orders before the exit.
Mounting Legal Issues for Good Glamm Group
Content-to-commerce giant Good Glamm has initiated arbitration proceedings against Indian Angel Network (IAN), which had accused Good Glamm of defrauding investors and accused IAN of defamation. Good Glamm has alleged contractual breaches and made counter-accusations. Founders of Good Glamm’s acquired companies, Sirona and The Moms Co, have sent default notices, alleging non-payment by Good Glamm.
Sexual Harassment Allegations at Zilingo
Ankiti Bose, former CEO of Zilingo, has filed a sexual harassment complaint against Dhruv Kapoor, Zilingo’s cofounder, and Aadi Vaidya, its former chief operating officer. Bose alleges that both men threatened her and demanded sexual favors in March 2021. Kapoor and Vaidya have denied the accusations.
Indian Auto Industry Embraces Electric Future
Under the government’s Production Linked Incentive scheme, Indian automakers and auto parts manufacturers have invested Rs 13,000 crore in the previous year to support the production of green vehicles and components, aligning with the government’s goal of attracting investments up to Rs 42,500 crore in the next 2-3 years.
US Senate Approves TikTok Divestment or Ban
The US Senate has approved a bill that provides ByteDance, the Chinese owner of TikTok, a nine-month window to divest its US assets or potentially face a nationwide ban on the popular short video app. TikTok is expected to challenge the bill legally, seeking a preliminary injunction to halt its implementation pending a review of its constitutionality.
