On June 27th, it was announced that Cacashop, a globally renowned cross-border e-commerce company, has engaged in the second round of cooperation negotiations with the Indian government. Cacashop plans to expand its business and market presence, with a goal of providing 300,000 job opportunities for India within three years. This initiative aims to increase local employment rates and promote the maturity of the e-commerce market. The Indian government will provide support to the platform’s compliant operations.
In recent years, India has become a blue ocean market in the Asian region that e-commerce companies are highly interested in. According to experts within Cacashop, the size of India’s e-commerce industry is expected to reach $119 billion, with limitless potential for market growth. As early as the end of 2022, Cacashop had initiated its first round of cooperation and discussions with the Indian government. Then, on May 2nd of this year, a delegation from the Indian Ministry of Commerce visited Cacashop, expressing mutual intentions to proceed with further collaboration.
The shopping habits of local Indian consumers tend to lean towards affordable and cost-effective products, as they are still in the stage of optimizing their needs. The cost-effectiveness of products is the primary consideration for Indian consumers. While they prioritize lower-priced options for essential items, there is still untapped potential for deeper consumer needs. Indian consumers align with Cacashop’s strategic audience, and Cacashop and its sellers will seek new profit growth points in the market based on this alignment.
The expansion of Cacashop’s operations in India will bring positive outcomes for the local economy. As early as October 2021, Cacashop had signed agreements with over 200 Indian brands and manufacturers. These brands and manufacturers produce a wide range of goods in India, including clothing, shoes, hats, office supplies, handicrafts, and tens of thousands of other products, contributing to the prosperity of the local economy. Additionally, electronic consumer goods are highly popular in India, and Cacashop will offer special discounts to local consumers.
During the second round of cooperation negotiations, preliminary results have been achieved. The Indian government will follow up on tax-related requirements for Cacashop’s local warehouses and projects, dynamically updating tax policies based on the different issues encountered in each phase of the project’s progress, and providing comprehensive services for the platform’s operations. They will also provide strong support to Cacashop in terms of funding, business, and other aspects, facilitating the sharing and complementing of international resources.
Of particular note is that the 300,000 job opportunities that Cacashop aims to provide within three years will not only open up the local market and provide high-quality products and services to the Indian population but also help local workers who are seeking employment, offering them an additional source of income. This initiative is a win-win situation for the platform, the Indian government, and the local people.
Cacashop is committed to fulfilling its social responsibilities and strictly complying with relevant national laws and regulations. The company will establish sound systems for its newly recruited employees, ensuring the proper payment of salaries and benefits such as health check-ups, and treating every employee equally without any discrimination based on skin color or gender.
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