Hello everyone,
If you are at home with a decent internet connection and a functional laptop or desktop, you should consider yourself lucky—at least in these circumstances.
There are many who are struggling to get online, especially at a time when work from home and virtual classes for students have become inevitable.
And with that in mind, the Department for Promotion of Industry and Internal Trade (DPIIT) has asked e-commerce firms to draw up a limited list of products that they consider essential.
E-commerce firms are keen to deliver work-from-home essentials such as routers, chargers and even stationery, laptops and tablets as students across the country take online classes and companies ask their employees to log in from home.
Why it matters
Before the Ministry of Home Affairs rescinded its April 15 guidelines on e-commerce delivery, states like Mahrashtra, Rajasthan, Tamil Nadu and Andhra Pradesh had allowed e-commerce companies to deliver all goods. The northern state of Punjab had included air conditioners, air coolers, fans and repair shops under the ambit of essential goods and services.
As India braces for a scorching summer, will air conditioners be on this list? Read the story
Hiring freeze
Flipkart and Amazon, as well as other vertical e-commerce firms, have deferred plans to hire thousands of additional staffers, after the government reversed its decision to allow online retailers to deliver all goods including non-essential items starting Monday.
Executives and industry watchers pegged the number of deferred hires to be as high as 200,000. And existing jobs too are at risk. Contract labourers are expected lose jobs, while small sellers may permanently shut down, they said. Read more.
VCs eye lifecycle extension
A number of venture capital (VC) fund managers are likely to ask investors to extend the lifecycle of their funds, as they look to tide over the Covid-19 crisis that has brought dealmaking and fundraising to a grinding halt.
VC-backed startups have been hit significantly as the country imposed a mandatory lockdown to contain the virus outbreak.
Quote of the day
“This year is going to be a washout… Every company, particularly B2C, has been hit hard. B2B companies will also be affected by at least six months. If you’re lucky, you’ll have flat growth,” said Mohan Kumar, managing partner at Avataar Venture Partners. Read more.
Safety net for gig workers
The government has fast-tracked its plan to provide social security for gig economy workers and those in the unorganised sectors, anticipating a significant jump in the number of people unemployed due to the Covid-19 pandemic.
The labour ministry is firming up a scheme that will provide minimum social security, including pension, provident fund, health insurance and unemployment benefits (conditional) to these workers.
The plan, if implemented, is likely to benefit millions of people, including taxi drivers associated with ride-hailing apps, delivery persons working for e-commerce firms, day-to-day helpers available through platforms like Urban Company (earlier known as Urban Clap), besides rickshaw pullers and roadside vendors. These segments account for nearly 90% of the country’s 500 million workforce and do not fall under traditional employer-employee relations. Read more.
Riding on social distancing
While India is set to lift its nationwide lockdown after May 3 (we don’t know if there any more surprises yet), public transport is likely to see a sharp drop in ridership in the country’s crowded cities.
And that could be a blessing in disguise for self-drive car and bike rental platforms, especially as customers defer their vehicle purchases due to the ongoing uncertainty.
With more people opting for personal vehicles to public transport or shared mobility, new-age vehicle subscription services like Zoomcar, Drivezy and Revv may see a significant spike in demand. Read more.
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