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5Jun By Press Trust of IndiaNo Comments

CHINA

Uber Aims to Overtake China Market Leader Didi in 2017

Ride-hailing app Uber expects to continue on a "rapid growth" path in China, hoping to surpass market leader Didi Chuxing in 2017, Uber China's head of strategy said on Friday. The company has been in fierce competition with Didi Chuxing, which is backed by Internet giants Alibaba Group and Tencent, across China. Uber's market share in China has grown to about 30% now from 1% in 2015, Liu Zhen said at The Wall Street Journal's Converge technology conference in Hong Kong. Both companies have spent heavily to subsidise fares to gain market share in the country, raising speculation in local media that they might ultimately join forces. Didi itself teamed up with a former local rival last year. "I heard the noise a lot and got asked that a lot about this (a tie-up with Didi)," ...

Trai Issues Pre-Consultation Paper on Net Neutrality

31May By Press Trust of IndiaNo Comments

INDIA

Trai Issues Pre-Consultation Paper on Net Neutrality

Telecom regulator Trai today issued pre-consultation paper on net neutrality, a topic that had kicked up dust earlier this year over platforms like Facebooks Free Basics and Airtel Zero as well as attempts to charge certain Internet services, including calls. Seeking to put in place an overall framework for Internet usage in the country, Telecom Regulatory Authority of India said: "This pre-consultation paper is an attempt to identify the relevant issues in these areas, which will help Trai in formulating its views on the way forward for policy or regulatory intervention." There has been a conflict between telecom operators, Internet companies and consumers interest on the issue of net neutrality. While all the three major stakeholders - telecom operators, Internet compani...

31May By Press Trust of IndiaNo Comments

INDIA

Indian Government New Mobile App Give Access to over 1,000 Government Services

Government is working on a mobile app which will give access to over 1,000 services from Centre and state governments and would be launched by December 2016, Telecom Minister Ravi Shankar Prasad said today. "We are going to launch a common mobile. In this app we will give services of central government, state government and local bodies. On a click of button people will be able scan 1000 services of government. We will start it in December with National student scholarships, women safety and health care," Prasad said. Umang (Unified Mobile App for New Age Governance) will be available in 12 Indian languages in addition to English. Prasad said that with help of technology the government is improving governance in the country. "A former prime minister of India has said that...

Extend Tax Holiday For Startups From 3 yrs to 7 yrs: Nirmala Sitharaman to FinMin

30May By Press Trust of IndiaNo Comments

INDIA

Extend Tax Holiday For Startups From 3 yrs to 7 yrs: Nirmala Sitharaman to FinMin

The Finance Ministry should consider raising tax holiday for startups to 7 years from the current 3 years to encourage budding entrepreneurs, Commerce and Industry Minister Nirmala Sitharaman today said. Nirmala Sitharaman said lots of inputs from startups have been received and "recommendations have gone to the Finance Ministry for extending the 3-year tax holiday to 7 years". "We shall pursue it and there shall now be lots more interactions with them," she told reporters while briefing them on the initiatives taken by her ministry during the last two years. The minister said she would visit different co-work spaces of these new age companies to see the ground picture and infuse fresh energy. Several startups have pitched for increasing the tax holiday period from the ...

SoftBank Indian Investment May Surpass $10 Billion – Masayoshi Son

30May By Press Trust of IndiaNo Comments

Entrepreneurs Talk

SoftBank Indian Investment May Surpass $10 Billion – Masayoshi Son

Having made a string of technology investments in India, Japanese telecom and Internet giant SoftBank has said its investments in the country will top USD 10 billion in 5-10 years. SoftBank, which owns one of Japans biggest mobile carriers and a controlling stake in US-based Sprint Corp, will make its first USD 350 million investment in a solar project in India, its Chief Executive Masayoshi Son said. "We have already invested USD 2 billion and we are interested in investing more," he said. "India has a great future. We are interested in investing in Internet companies and also in solar energy. We would make strong commitments. Son said SoftBank is looking at accelerating the pace of investments in future. "We also made a first move on solar energy. We are making USD 350 million ...

29May By Press Trust of IndiaNo Comments

INDIA

Want to Meet Indian PM? Answer Online Governance Quiz

What was the amount of tax refunds paid in 2015-16 -- Rs 1,22,325 cr, Rs 1,23,425 cr, Rs 1,23,325 cr or Rs 1,22,425 cr? If you answer 20 randomly selected questions like this in five minutes, you can meet Prime Minister Narendra Modi. As the NDA government completes its two years in office, it has asked citizens to participate in an online quiz competition. The winners will get a certificate signed by the Prime Minister himself and an opportunity to meet him in person. "This is a timed quiz with 20 questions to be answered in five minutes. These twenty questions will be randomly picked from the question bank. Winners will be adjudged on the basis of the maximum-number of correct answers," reads the conditions of the contest. Citizens can access the quiz through website -- www.m...

Indian Companies To Pay $4,000 More For H-1B Visa Fee

27May By Press Trust of IndiaNo Comments

News

Indian Companies To Pay $4,000 More For H-1B Visa Fee

Flagship Indian IT companies would have to pay at least an additional USD 4,000 for every H-1B visa application under the new regulations that came into effect last December, according to details published on Friday by a federal US agency. And those applying for L-1 visa petitions would have to pay USD 4,500 more than other US companies under the new law, which would be in effect till September 30, 2025. The H-1B visa is designed to allow US employers to recruit and employ foreign professionals in speciality occupations within the US while L-1 visas are available to employees of an international company with offices in both the US and abroad. Indian IT firms - which have to incur an additional burden of about USD 400 million annually - have called it "discriminatory", with Prime M...

Rajans Reappointment Should Not be of Medias Interest: PM Modi

27May By Press Trust of IndiaNo Comments

INDIA

Rajans Reappointment Should Not be of Medias Interest: PM Modi

Prime Minister Narendra Modi has said the issue of reappointment of RBI Governor Raghuram Rajan was an administrative subject and it should not be an issue of interest of the media, in his first comments in the wake of continuing attack on the top economist in recent months. "I dont think this administrative subject should be an issue of interest to the media," Modi said. "Besides, it will come up only in September," he told The Wall Street Journal, referring to the three-year term of Rajan which ends in September. "Do you support the reappointment of Mr Rajan, the central bank governor?" the Prime Minister was asked. As an outspoken RBI Governor, Rajan has expressed his views on host of issues, including intolerance and has even described India as one-eyed king in the land of ...

Microsoft, Facebook to Jointly Lay Giant Cable Across Atlantic

27May By Press Trust of IndiaNo Comments

News

Microsoft, Facebook to Jointly Lay Giant Cable Across Atlantic

Microsoft and Facebook have joined hands to lay a giant state-of-the-art subsea cable across the Atlantic Ocean connecting the US with Europe and beyond so as to facilitate faster speed and access to the Internet. The new "MAREA" cable will help meet the growing customer demand for high-speed, reliable connections for cloud and online services for Microsoft, Facebook, and their customers, a media release said. Construction of the cable will commence in August 2016 with completion expected in October 2017, it said. Microsoft and Facebook are collaborating on this system to accelerate the development of the next-generation of Internet infrastructure and support the explosion of data consumption and rapid growth of their respective cloud and online services, the release said. MARE...

24May By Press Trust of IndiaNo Comments

INDIA

India Aims to Be Among Top 30 in Ease of Doing Biz: Amitabh Kant

The government is focussed on improving infrastructure and driving innovation to ensure that India ranks among the top 30 countries in terms of ease of doing business in the next 3-4 years, Niti Aayog CEO Amitabh Kant said today. Speaking at an IAMAI event here, Kant said the ecosystem of innovation is just "beginning to blossom" and one is seeing a resurgence of young Indians starting new businesses. "Our objective is that India must become a very easy and a very simple place to do business in. This is one government that is focussed on innovation and trying to make India an easy simple place to do business," he added. Stating that India has jumped up 12 positions in the ease of doing business, Kant said the government has taken various steps in this regard including bringing in ...

Chinese Investments in India Increased By Six Times

24May By Press Trust of IndiaNo Comments

BUSINESS

Chinese Investments in India Increased By Six Times

Chinese investments in India grew six-fold in 2015 to USD 870 million from the previous year while more investments are in the pipeline following easing of restrictions on Chinese firms and favourable tax rates, a state-run daily said ahead of President Pranab Mukherjees visit. Investment in India by Chinese companies in 2015 reportedly rose six-fold from 2014, partly thanks to low investment restrictions and favourable tax and land rent policies in the country, Global Times quoted Chinese business experts as saying. China's investment soared to around USD 870 million in 2015, six times that in 2014, the report said noting that the figure for 2015 was also twice the amount from April 2000 to the end of 2014. Indian trade officials say that the figures reflect how Chinese investments t...

24May By Press Trust of IndiaNo Comments

CHINA

China Apprehensive of Tim Cook’s Plans For India: Chinese Media

As Apple CEO Tim Cook spoke of plans to expand manufacturing operations in India, China apprehends that it could lead to possible exodus of Apple production chain and loss of tens of thousands of jobs, Chinese state-run media said. "It seems the time has come for China to consider whether it is ready for the possible exodus of Apple Inc's production chain," an article in Global Times said, referring to Cook's comments during his India tour. Cook had discussed with Prime Minister Narendra Modi the "possibilities of manufacturing". "Cook shared Apple Inc's future plans for India. He spoke of the possibilities of manufacturing and retailing in India. He appreciated the breadth of young talent in India and said the youth have significant skills which Apple would like to tap," an offic...