Prime Minister Narendra Modi on Tuesday applauded the vendors for displaying their products on the Government e-Marketplace (GeM), an online platform for public procurement in India, after the platform crossed Rs 1 lakh crore Gross Merchandise Value.
Talking to ANI, GeM Chief Executive Officer PK Singh said, "We will exceed the target of Rs 1.5 lakh crore this financial year. GeM is also expected to surpass Amazon-Flipkart by the end of this financial year. 2021-22 annual GMV of GeM is around USD 14.2 bn. In 2021-22 Pvt e market player Flipkart has a GMV of USD 23 bn and Amazon has GMV of USD 17 bn."
Fintech solutions provider One 97 Communications, which operates the popular payment platform Paytm continues to dominate the payments landscape in India.
The company also announced that its revenue from operations grew 39 per cent to Rs 12,308 million, against Rs 8,853 million in the year-ago period. Earnings before interest, taxes, depreciation, and amortisation grew 112 per cent to Rs 611 million from Rs 288 million during the corresponding quarter the previous year. Ebitda margin improved to 5 per cent, against 3.3 per cent in the year-ago period.
New Delhi [India], October 10 (ANI): Paytm, India's leading digital payments and financial services company and the pioneer of mobile and QR payments, has further strengthened its leadership position in the payments system with its number of deployed devices growing to over 4.8 million.
New Delhi [India], June 25 (ANI/TPT): Cementing its position as India's leading online channel management agency and growth accelerator, Upriver is eyeing USD 50 million in annualised GMV across brand partners in 2022. Upriver has an unmatched track record of enabling more than 200 promising brands to sell online and scale up revenues in the last two years. Upriver is also laying the foundation to foster INR 100 crore monthly turnover for its clients by 2025.
Washington [US], January 2 (ANI): A new study has found that greater cumulative exposure to estrogen in life can protect women from Alzheimer's disease.
New Delhi [India], November 11 (ANI/PNN): Senior FMCG professional and Ola's top executive, Satyam Manohar, joins Paytm as Vice President. Satyam has worked at various leadership positions with FMCGs like Marico, Kellogg's and Nivea and has several accolades to his name in business scaleup and digital transformation.
Hanoi [Vietnam], November 10 (ANI/VOVWORLD): Vietnam's Internet economy is projected to become the second-largest economy in Southeast Asia, reaching 220 billion USD in gross merchandise value (GMV) by 2030, according to a report published by Google, Temasek and Bain and Company on Wednesday.