Author: News Desk
The Indian government is striving to make its telecom sector the best in the world. As part of improving the digital regulatory system, the government would bring more legislation, said telecom minister Ashwini Vaishnaw. He also talked about the draft Indian Telecommunication Bill, 2022, which covers satellite-based communication services, internet-based communications, in-flight and maritime connectivity services, interpersonal communications services, and machine-to-machine communication services. The proposed bill would regulate over-the-top (OTT) communication apps like WhatsApp. It would require apps like WhatsApp and telegram to obtain a licence from the government. Currently, OTT communication apps do not require any permit. Telcos are in…
From 14 cities, Amazon has increased its four-hour delivery service for Prime members to more than 50 significant cities and towns nationwide. Amazon will ship products from a variety of categories, including wireless, consumer electronics, books, toys, media, kitchen, luxurious, sports, video games, and personal care products, among others. In 2017, Amazon debuted its same-day delivery service. Specialized facilities that carry out these orders are placed in key locations across the city to ensure prompt delivery. These specialized structures are situated nearer to clients and are optimized for quicker click-to-delivery times. According to the business, these new facilities are centrally…
As the expanding middle class in Asia’s third-biggest economy increases spending on food and drinks, Nestle SA, the world’s largest food company, will invest 5,000 crore to establish factories and research centres in India until 2025, according to chief executive Mark Schneider. Schneider, who was on a week-long visit to India, one of the top 10 markets for the Swiss company, said the increased investments will also be used to develop brands. Nestle is increasing its focus on India, the country with the strongest economic growth worldwide, as it struggles with weak demand in Western markets plagued by decades-high inflation.…
The Reserve Bank of India (RBI) recently introduced UPI Lite to take the digital payments experience to the next level. The move is expected to make digital payment more convenient to users when it comes to low-value transactions. As per the data of the National Payments Corporation of India (NPCI), low-value transactions happen more in India. With UPI Lite, users can make small-value transactions even without the internet. It will cut down the debit load on the core banking system. How to use UPI Lite? Using UPI Lite, feature phone users can access UPI networks and make digital payments straight…
Because the window automated reversal mechanism may not respond appropriately after sensing an obstruction, increasing the risk of harm, Tesla is recalling almost 1.1 million US vehicles. The manufacturer of electric vehicles informed the National Highway Traffic Safety Administration (NHTSA) that it will update the automatic window reversal system’s software over the air. Some Model 3, Model Y, Model S, and Model X vehicles manufactured between 2017 and 2022 are included in the recall. According to Tesla, there have been no field reports, warranty claims, accidents, injuries, or fatalities related to the recall. According to Tesla, starting on September 13,…
At the conclusion of its two-day event, which drew more than 300 young change-makers from around the world, the Bill and Melinda Gates Foundation announced new financial assistance totaling USD 1.27 billion to combat poverty and social inequality. The Foundation’s annual Goalkeepers report, which noted that nearly every indicator of the UN Sustainable Development Goals is off track for achievement by 2030, was released more than a week prior to the announcement of the cash commitment. Despite these obstacles, the report emphasised ways to speed up progress by funding long-term fixes and novel strategies for pressing problems like poverty, inequality,…
Many investors have gained fortunes thanks to the booming initial public offering business in 2021, as over 60 companies listed on exchanges during the year. Latent View Analytics and MapmyIndia were two IPOs that generated enormous returns for investors. Many investors and promoters profited from the bull run in Indian equities that lasted from mid-2020 till late 2021. The IPO craze is finished, according to analysts, and things may quiet down for a while. Even AV Venkatraman, 52, the chair and executive director of LatentView Analytics, entered the list of India’s richest men thanks to the IPO boom. According to…
Reliance New Energy would invest $12 million in Pasadena-based solar tech firm Caelux Corporation. It is to acquire a 20 per cent stake in Caelux, which is indulged in developing perovskite-based solar technology. Both Reliance and Caelux have entered into a strategic partnership for technical collaboration and commercialisation of the US firm’s technology. The investment will help Caelux develop its product and technology further. It will also aid the construction of Caelux’s pilot line in the United States for the commercialisation of its technology. Caelux’s technology lets high-efficiency solar modules produce 20 per cent more energy at lower costs over…
Zepto founder Kaivalya Vohra becomes the youngest and richest Indian. The 19-year-old entrepreneur has an individual net worth of Rs 1,000 crore. Vohra holds the 1,036th spot in the IIFL Wealth Hurun India Rich List 2022. Vohra founded Zepto, a grocery delivery app in Mumbai, with Aadit Palicha in 2020. Vohra is the Chief Technology Officer of Zepto. Zepto is India’s fastest-growing e-grocery company with a valuation of $900 Mn. Palicha has also made it to the list with a net worth of Rs 1,200 crore.
India may witness record sales of smartphones this festive season, says the Counterpoint research. It will be around $7.7 billion (more than Rs61 crore). The report also suggests that one out of every three smartphones sold during the season will be 5G-enabled. In India, the festive season has always been a time when almost 20 per cent of the annual smartphone sales happen. It is an important time for all industry players. E-commerce channels may catch 61 per cent of the overall sales, says the report. Last year, it was 66 per cent. Amazon’s Great India Festival and Flipkart’s Big…