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New Delhi [India], January 12 (ANI/ BusinessWire India): The Indian e-commerce industry has been driven by increasing mobile phone adoption. As of October 31, 2022, there are 1143 million mobile connections with 625 million urban and 518 million rural connections. A few trends that are set to further increase mobile commerce: - Launch and adoption of 5G network - Launch and adoption of ONDC (open network for digital commerce) - Quick commerce - Hyperlocal delivery The India e-commerce market size is estimated to be USD 75 billion in 2022 and has the potential to expand to USD 111 billion by 2024 and USD 200 billion by 2026, with a CAGR of 20-22 per cent. The online retail market in India is estimated to be 25 per cent of the total organized retail market and is expected to reach 37 per cent by 2030. India's social commerce gross merchandise value (GMV) is expected to reach USD 20 billion by 2026, with a potentially reach USD 70 billion by 2030. Amazon and Flipkart acco ....
Noida (Uttar Pradesh) [India], October 20 (ANI/NewsVoir): Max Financial Services Limited (MFSL) today announced its financial results for the second quarter (Q2) and H1 (first half) of the financial year FY23. In the first half of the FY23, MFSL Consolidated Revenue^ of Rs 9,720 Crore, with growth of 12 per cent and Consolidated PAT at Rs 130 Crore, up 56 per cent, due to lower tax expenses than corresponding previous half year. In Q2FY23, Consolidated Revenue^ at Rs 5,718 Cr, Up 9 per cent and Consolidated PAT at Rs 62 Cr, Up 29 per cent. During H1FY23, Max Life New Business Premium grew 9 per cent to Rs. 3,378 Cr and Annualised Premium Equivalent (APE) Up by 2 per cent to Rs 2,200 Cr driven by strong growth in proprietary channels. Proprietary channels new business premiums grew by 23 per cent year-on-year to Rs 773 Crore as result contribution of Proprietary channels to total new sales increased from 29 per cent to 33 per cent in H1FY23. Further, the renewal premium income (includi ....