Grouping together other sectors with e-retailers has become a source of worry and discontent among e-commerce firms.

Mukesh Bansal, co-founder of Cult.fit, an online fitness startup in which Tata Group recently invested, has been made a key member of the fundraising team.

The new rules prohibit e-tailers from hosting flash sales and mandates they appoint a grievance officer to address consumer complaints.

Progcap competes with SoftBank and Alibaba-backed Paytm, Walmart-owned PhonePe, and Coatue Management-backed BharatPe.

The company competes with CultFit, a unicorn startup that runs a chain of fitness centers and acquired Tread, a company that makes smart fitness bikes.

The total wealth held by Indian ultra-high net worth individuals will also grow to over USD 700 billion by 2024, as compared to USD 440 billion in 2019.

At a USD 4 billion valuation, BrowserStack has emerged as the most valuable SaaS company from India, leaving behind Freshworks, which is preparing to go public in the US.

The new IT rules have become a major bone of contention for Twitter, Facebook, Instagram, and WhatsApp.