1) Reliance Industries Limited secures 48th rank in the world's 50 most valuable companies. Later this week RIL's market cap reached ₹14.5 lakh crore and becomes the world's 2nd most valuable energy company beating Exxon. RIL's market cap has increased ₹4 lakh crore in the last 4 months.
2) Make in India: Apple starts the production of the iPhone 11 in India with the Foxconn India Chennai plant.
3) Indian government restricted Chinese companies from participating in public procurement bids exempting the private sector.
4) Amazon in talks with Reliance to purchase a stake in the retail business. The moment when the world's richest personalities land at the Reliance airport. Reliance would be the first company with a strategic stake by Google, Facebook, Intel, Qualcomm, and Amazon. Moreover, the influence of foreign investments is increasing in India. From the Chinese influence of investments to American as Walmart is also invested an additional $1 billion in Flipkart after acquiring Flipkart for $16 billion in 2018. Later this week Flipkart India acquired Walmart India and announced will launch Flipkart Wholesale. One more big player joined the online grocery sector in India as Flipkart will give tough competition to Jio Mart, BigBasket, and Amazon.
According to Business Standard, Jio has shaken up a $2 billion online grocery market within two months with more daily orders (250,000) than BigBasket (220,000) and Amazon (150,000). The online grocery market in India is expected to reach $3 billion by 2021.
5) Supreme Court (SC) ordered the Income Tax (IT) department to refund ₹833 crores to Vodafone Idea. Still, Vodafone Idea has to pay a big amount of money as AGR to the government.
6) New Section: Opinion-O
Made/Make in India tag: A new way of advertising by Chinese companies. The fact is the majority of Chinese brands assembles the products in India and gets the tax benefit for make in India tag.
There is a term is business, 'localization'. Localization refers to a product that is specially designed for a specific audience or Country. Like, take the example of McDonald's Maharaja Mac burger, you will not see this burger outside of India because it is specially designed for India. Similarly, McDonald's sells different types of regional burgers in different countries. Another example of Dominos Pizza, Dominos in the year 2018 announced that they will sell completely vegetarian pizza in India's Gujarat. These types of products are called as localized products.
But this time the localization is not a product-based, it is advertising-based. Yes, the Chinese smartphone brands are trying to keep it normal while things are going against them. And that will help them in the upcoming festival season in India.
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