This can prove a big setback to the company with its competitors such as Amazon and Snapdeal ramping up their operations for the upcoming festive season.
The Commerce ministry is also planning to expand the initiative in the long run. As per Sitharaman, the ministry wants to make government procurement more comprehensive and transparent.
This move by the company can act as a catalyst for its business. It will help the firm to climb up the ladder and to come head to head with Amazon India.
The partnership will focus on pointing the untouched high-potentials of tier III cities and rural areas, while also increasing ShopClues' presence in tier II geographies.
The move might prove to be a lucrative one for sellers but experts feel that this policy might strike a wrong cord and company might lose huge chunk of its customers.
We are clearly entering an age when the next megatrend in business models in India is going to be about facilitating B2B commerce, says Anish Basu Roy- CEO, CO-Founder, Shotang.
Over the next 12 months, BlueStone will invest Rs 40 crore towards marketing. Investments are being made on educating customers about online jewellery buying.
The company has roped in Ahmedabad based ecommerce service provider firm - Infibeam Incorporation Ltd. to assist Amul in shaping up its portal and app.
The company has gone on board by augmenting its storage capacity to 5.5 million sq/ft for sellers on the marketplace who will use the centers by Amazon service.
In its recent inclusion, Shopclues has added new brands such as Wrangler, Puma, American Tourister, Lotto, and Maxima along with 250 others on its platform.