India’s Quick Commerce Sector Dominates E-Grocery Orders in 2024

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India’s quick commerce sector has seen explosive growth, accounting for over two-thirds of all e-grocery orders in 2024, according to a new report by consultancy Bain and e-commerce giant Flipkart. This rapid rise highlights the sector’s expansion and its significant impact on India’s e-retail market.

Market Growth and Projections

The quick commerce industry’s market share surged nearly five-fold, reaching an estimated $6-7 billion in 2024, up from the previous year. The sector, which includes companies like Zomato-owned Blinkit, now accounts for about 10% of India’s overall e-retail spending. These platforms, which offer delivery of groceries and other items within minutes, are poised for further expansion, with an annual growth rate of over 40% expected until 2030.

Key Drivers and Challenges

Quick commerce has emerged as one of the most notable trends in India’s e-retail sector over the past two years, serving over 20 million online shoppers and employing more than 400,000 people. The industry’s rapid rise is attributed to its ability to cater to the growing demand for fast deliveries in urban areas, capitalizing on consumer convenience.

However, the sector faces challenges, particularly in terms of expanding profitability. Companies may struggle to extend their reach beyond major metropolitan areas and contend with fierce competition from larger players like Flipkart. To sustain growth, experts suggest that quick commerce companies will need to adapt their business models, optimize supply chains, and manage increasing competition.

The Future of Quick Commerce

While the growth prospects of the sector are promising, some industry experts warn that the quick commerce boom may be short-lived. A recent report from Blume Ventures cautioned that maintaining such rapid growth may prove difficult. TVS Capital Funds Chairman Gopal Srinivasan also expressed concerns, calling the quick-commerce trend a “passing fad” that could prove unsustainable in the long run.

Italy Targets Meta, X, and LinkedIn in Landmark Tax Case

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Italy has initiated a landmark tax case, issuing VAT claims against Meta, X, and LinkedIn. The case, which could have widespread implications for the tech industry in Europe, challenges how social networks provide services and treat user data as taxable transactions.

Tax Claims Against Tech Giants

Italy’s tax authorities are claiming substantial amounts from the three U.S. tech giants: Meta (887.6 million euros), X (12.5 million euros), and LinkedIn (140 million euros). These claims span from 2015 to 2022, although the immediate focus is on the years 2015 and 2016, for which claims are set to expire soon.

The Controversial Issue: VAT on Free Services

The central issue in the case revolves around the way these companies provide access to their platforms. Italian authorities argue that the act of users registering on Meta, X, and LinkedIn should be considered a taxable transaction since it involves the exchange of personal data for access to membership accounts.

Meta has strongly opposed this view, asserting that providing access to online platforms should not be subject to VAT. LinkedIn and X have remained silent or unavailable for comment on the matter.

Potential Impact Across the European Union

The case could have wider ramifications across the EU, as VAT is a harmonized tax across member states. Experts suggest that the ruling may force tech companies to reconsider their business models, particularly those offering “free” services that require users to accept profiling cookies. This development could potentially extend to other industries, including airlines and publishers, which rely on similar business practices.

The Path Forward: Court or Settlement?

This is the first time that Italy has issued formal tax assessment notices without reaching a settlement agreement. The companies now have 60 days to appeal the claims, after which they may go to court—a process that could take up to 10 years in Italy. Alternatively, the tax authorities could drop the claims for technical or political reasons, or the companies could agree to pay some of the contested amounts while seeking further assessment from the European Commission.

DOGE Staffer ‘Big Balls’ Linked to Cybercrime Group, Records Show

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Edward Coristine, known by his nickname “Big Balls,” a key member of Elon Musk’s DOGE Service team, provided technical support to a cybercrime group involved in illegal activities, including cyberstalking and data trafficking, according to digital records reviewed by Reuters.

Coristine’s Role in DiamondCDN and EGodly

Coristine, a 19-year-old technologist, founded a company named DiamondCDN around 2022, which offered network services. The company was linked to EGodly, a cybercrime ring that boasted about engaging in criminal activities such as stealing data and cyberstalking law enforcement officials. Digital records show that between October 2022 and June 2023, DiamondCDN’s infrastructure was used to support EGodly’s website, dataleak.fun, which was involved in cybercrimes. EGodly publicly thanked DiamondCDN for providing them with DDoS protection and caching systems.

Connection to Government Agencies

Despite these associations, Coristine has been recognized for his work with U.S. government agencies. He is listed as a “senior adviser” at the State Department and the Cybersecurity and Infrastructure Security Agency (CISA). His name also appears in their staff directories, raising concerns about his involvement in securing government networks despite his previous ties to cybercriminals. Coristine describes himself as a “Volunteer (Intern) Plumber” with the U.S. government on his LinkedIn profile.

EGodly’s Cybercrimes and FBI Targeting

EGodly, the group with which Coristine’s company had ties, was known for a variety of cybercrimes, including hijacking phone numbers, breaking into law enforcement email accounts, and stealing cryptocurrency. The group also posted personal information about an FBI agent they targeted for harassment. The group’s members were reportedly involved in the dangerous practice of swatting, which involves making hoax emergency calls to send armed officers to targeted locations. Law enforcement has been aware of EGodly’s activities due to its connection to cybercrime and swatting incidents.

Concerns Over National Security

Nitin Natarajan, former deputy director of CISA, expressed concern over the potential risks posed by Coristine’s past associations with EGodly, noting that it is troubling for someone with such connections to hold a position in government security. This raises questions about the vetting process and the broader implications of such individuals gaining access to sensitive government networks.