TATA Groups entering into E-commerce
India's biggest conglomerate Tata Group launched an e-commerce venture on Friday, as it seeks to cash in on rising purchasing power in a market dominated by deep-pocketed international retailers and startups backed by global tech investors. The group said it developed its Tata Cliq website over a year-and-a-half at a cost of "several hundred million dollars" to be a marketplace for in-house and partner companies to sell apparel and electronics. The move is in line with a second phase in Indian e-commerce development, with the some of the country's oldest and largest corporations entering an industry established in the last five years by startups Snapdeal and Flipkart Online Services Pvt Ltd. The market also welcomed global e-commerce firm Amazon.com Inc in 2013, which has invested over $2 billion for growth. Local conglomerates only lately entered the fray. Reliance Industries Ltd started an online apparel shop last month, while Aditya Birla Group a