Online retail has only 1.6% share in India..
+ India needs to fix its gender-gap stats.
Online is only 1.6% of retail sales in India: World Bank
..in India, online sales as a percentage of total retail sales were only 1.6%, versus over 15% for China and around 14% globally.
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Swiggy recorded 3X revenue growth and 6X loss compared to last FY
Swiggy recorded revenues of Rs 1,128 crore (3X growth) in the year ending March 2019. The company witnessed losses amounting to to Rs 2,363 crore (~6X increase).
Swiggy spent Rs 1,593 crore in delivery costs and Rs 423 crore on salaries and wages. The company also spent Rs 778 crore on marketing and advertising expenses.
On the other hand, Zomato is raising $600mn, out of which $200mn will come from Uber as part of Uber-eats sale to Zomato.
At times, we wonder whether these foodtech businesses have eaten more than what they can digest..What says?
The Indian railways reported an earning shortfall of Rs 19,000 crore by October and in order to increase the revenue will soon foray into 24*7 stores as well as e-commerce.
Sources said there was also a suggestion to reduce the branches of unions in divisions and their office holders and the need to review the privileges they enjoyed in transfers and postings. There are nearly 250 union office bearers of various unions in each division and there are around 50,000 who hardly have any output.[via]
India slips to 112th place on gender gap; in bottom-5 on health, economic fronts
While Iceland remains the world’s most gender-neutral country, India has moved down the ladder from its 108th position last year on the World Economic Forum’s Gender Gap Report to rank below countries like China (106th), Sri Lanka (102nd), Nepal (101st), Brazil (92nd), Indonesia (85th) and Bangladesh (50th).
Yemen is ranked the worst (153rd), while Iraq is 152nd and Pakistan 151st.
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SoftBank's Masayoshi Son says Japan should make AI mandatory subject for college students
SoftBank Group Corp Chief Executive Masayoshi Son said, Japan should make artificial intelligence (AI) a mandatory subject for college entrance exams, to counter the yawning gap with the United States and China in the nascent field.
"Japan has lost the past, but may be losing the future," he said.
Japanese students "don't study if they are not asked... let's put it as mandatory, then Japanese students will catch up," Son told a government conference aimed at fostering innovation.
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