Banking and Financial News – 27 June 2014

Amazon Ties Up With IT Billionaire Murthy Of Infosys To Launch E-commerce Joint Venture In India (Forbes)

• Narayana Murthy, the billionaire co-founder of Indian IT services firm, Infosys, has formalized an e-commerce joint venture with the world’s largest online retailer, Amazon, through his private investment firm, Catamaran Ventures. The deal was signed in May.

• The JV will offer services that help offline sellers and SMBs in India to get online and to take advantage of the fast-growing online customer base in the country.

• The joint venture named Taurus Business And Trade Services will operate in major Indian cities and towns. It will help offline sellers and small & medium businesses (SMBs) by training them in online tools so that they can improve the customer base online as well as improve footfalls and revenues.

• Amazon’s latest venture with Catamaran is a sign that global giants are taking Indian e-commerce a lot more seriously.

He who doesn’t move his feet won’t stumble, but he won’t get ahead either. ~ Gonzo Arzuaga

Courtesy : Forbes