Author: Editorial Team

The Indian startups now oppose the draft views prepared by the Internet and Mobile Association of India (IAMAI). The draft will be submitted to a committee examining the requirement for a separate law in case of competition in digital markets. According to the startups, the IAMAI seems to favour big tech platforms. In a drafted note given out among the members, the IAMAI showed many observations made in December 2022. This was in a report of the Parliamentary Standing Committee on Finance on anti-competitive practices by big tech companies. They plan to write to the Committee on Digital Competition Law…

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Bangladesh permitted India to use Mongla and Chattogram ports for transit and trans-shipment cargo vessels. The National Board of Revenue in Bangladesh issued a permanent standing order. The order stated that the National Board of Revenue issued the permanent transit order after trial runs were completed for operationalization and the regular movement of goods. The decision will reduce the cost and time for transporting goods to West Bengal and the northeastern states of India. It will also promote regional connectivity in the Bay of Bengal Sea area. The ports in Bangladesh, the National Board of Revenue in Bangladesh, customs, and…

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The Purchasing Managers Index measures the direction of economic trends in manufacturing. The manufacturing PMI of India increased to 57.2 in April 2023 from 56.4 in March. This indicates a fast improvement in the sector. Except for the supplier delivery times, all sub-components of the Purchasing Managers Index contributed to the stronger figures. Factory orders and production went up at the strongest rates in 2023. Better job opportunities were created, and several companies stepped up input purchasing. This was owing to stock-replenishment efforts. An analytical view Pollyanna De Lima, the Economics Associate Director at the S&P Global Market Intelligence, has…

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On Thursday, Razorpay, an online payment and banking platform, announced that it will join the Open Network for Digital Commerce (ONDC) ecosystem. Thus, it became a payment gateway to launch payment reconciliation services for its sellers, buyers, and logistic partners. Razorpay, through this solution, aims to offer a seamless and efficient way for the Network Participants. This is to settle funds and also process transactions on the ONDC. The solution of Razorpay, by routing settlement information for transactions and providing support for documentation and dispute resolution, helps ensure that transactions are secure and validated. The co-founder of Razorpay, Shashank Kumar,…

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Stack Identity, backed by cybersecurity industry veterans, is a patent-pending algorithm that detects and eliminates unauthorized and invisible shadow access to prevent cloud data breaches. It is a Silicon Valley startup automating identity and access management governance. This is to identify and also eliminate cloud data threat vectors. The company today has announced the closing of a $ 4 million seed funding round. Benhamou Global Ventures and WestWave Capital led it. In the evolving stage of cloud-based IAM, businesses cannot always protect sensitive data. This is especially true if they do not know who has access, for how long, and…

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G.O.A.T. appoints Saumitra Kumar as the head of engineering, product, and data science. This came through a collaboration with the firm Purple Quarter. Saumitra Kumar has over twelve years of experience. He has worked in several companies like Sears, Verizon, and Amazon. He has spent over five years at Amazon. At Amazon, he was the engineering head of Amazon Prime. Rishi Vasudev, the CEO of GOAT Brand Labs, commented on Saumitra’s appointment. He said that Saumitra Kumar has proven excellence in the tech, product, and data sectors. They are looking to create capabilities and also provide growth for the portfolio.…

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Financial services and digital payments company PhonePe is all set to launch a dedicated app store for Android users in India. The Indian fintech giant gives the latest product push that has all command over the mobile payments market in India. The PhonePe app store is designed to offer the most localised services. It is completely based on customer context. And it aims to help developers with good-quality user acquisition. This shall be through multilingual solutions. This news came according to an internal company document as reviewed by TechCrunch. So, PhonePe is now entering the app store market. However, it…

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Chanakya Fund Trust announced the launch of the maiden rupees 100 Crores sector-agnostic fund. Chanakya Opportunities Fund I will invest in profitable small and medium-sized enterprises. It is an Alternative Investment Fund Category II and is Sebi registered. The company is set to invest in profitable SME companies with high-potential opportunities in the unorganized fields. And about 51 percent of the corpus is to be invested in small and medium-sized companies and termed start-ups in the manufacturing industry. It shall also invest in consumer products and technology. A statement said that the fund shall invest about rupees 2 Crore to…

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PM Narendra Modi is at present on a 2-day Kerala visit. He will flag off the first water metro of India. The metro rail connects ten islands around Kochi. The train will operate through battery-operated electric-hybrid boats. This is for seamless connectivity with the city. Water Metro gives distinct urban transportation. It offers convenience and travel experience to the already prevalent traditional metro systems. This metro mode of transit will be valuable in cities such as Kochi. Loknath Behera, the Managing Director at Kochi Metro Rail Limited, spoke to ANI ahead of PM’s visit. He said that the water metro…

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India has jumped six places to rank 38th out of 139 countries in the World Bank’s Logistic Performance Index (LPI) 2023. India has significantly improved its logistic index since 2014, when it was 54th. This improvement in the logistic index reflects significant investments in hard and soft infrastructure and technology. This follows the launch of the National Master Plan for multimodal connectivity, the PM Gati Shakti initiative, in October 2021 to reduce logistics costs and boost the economy by 2024-25. The National Logistics Policy (NLP) was launched in 2022. Improvements in Logistic Index The report highlights India’s remarkable improvement in…

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