Sunday, March 3

Tag: Narendra Modi

India woos Tesla with offer of cheaper production costs than China
INDIA

India woos Tesla with offer of cheaper production costs than China

India is ready to offer incentives to ensure Tesla Inc's cost of production would be less than in China if the carmaker commits to making its electric vehicles in the south Asian country, transport minister Nitin Gadkari told Reuters. Nitin Gadkari's pitch comes weeks after billionaire Elon Musk's Tesla registered a company in India in a step towards entering the country, possibly as soon as mid-2021. Sources familiar with the matter have said Tesla plans to start by importing and selling its Model 3 electric sedan in India. "Rather than assembling (the cars) in India they should make the entire product in the country by hiring local vendors. Then we can give higher concessions," Gadkari said in an interview, without giving details of what incentives would be on offer. "The gover...
Digital Transaction in India Grows 55% in 5 years to FY20
INDIA

Digital Transaction in India Grows 55% in 5 years to FY20

Concerted efforts by the Indian Reserve Bank to move to a non/less-cash economy by pushing digital payments have begun to pay rich dividends as the volume of such payments has jumped manifold in the past five years, the latest data from the Indian central bank showed. Between 2015-16 and 2019-20, digital payments have grown at a compounded annual growth rate of 55.1 percent from 593.61 crores in the year to March 2016 to 3,434.56 crore in the year to March 2020. In absolute terms, value has grown from Rs 920.38 lakh crore to Rs 1,623.05 lakh crore during this period, clipping at an annual compounded rate of 15.2 percent. Giving year-wise data, in 2016-17 digital payments jumped to 969.12 crores from 593.61 crores in the previous year in volume terms, while in value the same rose ...
Indian Govt bans 118 more Chinese Apps, including PUBG
INDIA

Indian Govt bans 118 more Chinese Apps, including PUBG

New Delhi, Sept 2 2020: The Indian government blocked 118 more mobile applications, including popular gaming app PUBG, terming them prejudicial to the sovereignty, integrity and defence of the nation. The banned apps include Baidu, Baidu Express Edition, Tencent Watchlist, FaceU, WeChat Reading and Tencent Weiyun, besides PUBG Mobile and PUBG Mobile Lite, according to an official statement. All these banned apps have Chinese links, sources said. The Centre had earlier banned a number of Chinese apps, including TikTok and UC Browser. "Government blocks 118 mobile apps which are prejudicial to sovereignty and integrity of India, defence of India, security of state and public order," it said. It said the IT Ministry had received complaints from various sources, including sever...
Google to Invest $10 billion in India: Sundar Pichai
INDIA

Google to Invest $10 billion in India: Sundar Pichai

New Delhi, Jul 13, 2020: Google CEO Sundar Pichai said that they plan to invest $10 billion (Rs 75,000 crore) in India over the next five to seven years to help accelerate the adoption of digital technologies in the country. Pichai, who held a virtual meeting with Prime Minister of India Mr. Narendra Modi on Monday morning, made the announcement at the annual ''Google for India'' event via video conference. Announcing the $10 billion investment in India over the next 5-7 years through ''Google for India Digitization Fund'', Pichai asserted that the move is a reflection of the company's confidence in the future of the country and its digital economy. Pichai said a whole new generation of technologies are happening in India first, and that people in the country no longer have to wa...
No better time to bet on India than now, says Gautam Adani
INDIA

No better time to bet on India than now, says Gautam Adani

NEW DELHI, 8th June 2020: The recent slump in economic growth notwithstanding, India will be one of the world's top consumption centers and a manufacturing and services hub for the next several decades, billionaire Gautam Adani has said, stressing there is no better time to bet on India than now. India's economic growth slipped to 4.2% in 2019-20 fiscal (April 2019 to March 2020) its slowest pace in more than a decade. International rating agencies as well as the Reserve Bank of India (RBI) have forecast a contraction in GDP in the financial year that began in April 2020 on account of the coronavirus-induced slowdown. "What we must realize is that there are no absolute right or wrong ideas. What is required during an unprecedented, hard to model, a crisis like COVID-19, is a Governm...
How Indian Startups Congratulate PM Narendra Modi For Second Term
INDIA

How Indian Startups Congratulate PM Narendra Modi For Second Term

Indian startups who received support from the Indian government under "Startup India, Standup India" programme led by Indian PM Narendra Modi's in the first term congratulates PM Modi for the victory and second term. Most of the startups are hopeful that under second term Modi government will take strong steps against painful Indian angle tax. "The 68 million grassroots businesses in India which have been making a significant contribution to the National GPD, need a continued benevolent approach from the Government.  The Government Policies need to focus on creating a supportive ecosystem which empowers micro enterprises to create globally competitive products rather than granting loan waivers which only leads to dependency and inadequacy in the sector. While a lot of work has bee...
Modi led Indian Government saved $9 billion after Aadhar implementation: Nandan Nilekani, Infosys Co-founder
INDIA

Modi led Indian Government saved $9 billion after Aadhar implementation: Nandan Nilekani, Infosys Co-founder

Nandan Nilekani, the co-founder and former CEO of Infosys said, the Indian government's Aadhaar card scheme, which has enrolled more than 1 billion people, has helped the exchequer save about USD 9 billion by eliminating fraud in beneficiary lists". The Aadhar card is a biometric identification obtained by residents of India. The program was launched by the previous UPA government under former PM Manmohan Singh and now supported by the current Narendra Modi led Government. It has really been a bipartisan thing, Nilekani said while participating in a World Bank panel discussion on Digital Economy for Development yesterday. He said that it is easier for the developing countries to leapfrog by building a right digital infrastructure. Aadhaar now has more than a billion people re...
Demonetisation was Executed Poorly, Introduction of 2000 Notes was a bad idea: Uday Kotak
Entrepreneurs Talk

Demonetisation was Executed Poorly, Introduction of 2000 Notes was a bad idea: Uday Kotak

Mumbai:  Speaking at former chief economic advisor Arvind Subramanian's book launch, the MD of Kotak Mahindra Bank said that the outcome of the controversial demonetisation would have been "significantly better" if "simple things" like cancelling the introduction of higher denomination Rs 2,000 notes. The executive vice chairman and managing director of the fourth largest private sector lender Kotak Mahindra Bank has also said small businesses are in a difficult situation at present and has welcomed the government focus to revive the sector. On demonetisation, he said the outcomes would have been different if it was planned well. "I think we would have had significantly better outcomes, if we had just thought about simple things. If you are taking out Rs 500 and Rs 1,000 notes, why ...
Jack Dorsey, on his Maiden Trip to India, Meets Political Leaders and Bollywood Celebrities
INDIA

Jack Dorsey, on his Maiden Trip to India, Meets Political Leaders and Bollywood Celebrities

It has been a great pleasure for India to welcome the Twitter co-founder and CEO Jack Dorsey. Dorsey is on his maiden trip to India. However, the experts have been feeling that the social media platform Twitter has been missing several opportunities to make itself relevant in the country and this has been the basic purpose of the co-founder to visit the country. In its most recent earnings announcement in October, Twitter reported an annual increase of 29 percent in revenue to $758 million in India. However, its monthly active users fell to 326 million in the September quarter. "Twitter does not even account for 5 per cent of revenue from social media platforms in India," said Meenakshi Tiwari, a forecast analyst who looks at business technology and digital marketing at research firm F...
India’s PM Narendra Modi Launches 59 Minutes Loan for MSMEs as Diwali Gift
INDIA

India’s PM Narendra Modi Launches 59 Minutes Loan for MSMEs as Diwali Gift

India’s Prime Minister Narendra Modi has announced a number of measures and services for the people of our country including the most interesting and valuable one under which, the small and medium enterprises will be able to sanction loans of up to Rs 1 crore in just 59 minutes through a special portal. This has basically been done to give a boost to the nation's second-biggest employing sector. For a long time, the Prime minister has been looking upon and taking efforts for the startups of our country and he has launched yet another measure that will be really helpful for the small businesses. The programme was unveiled as part of 12 new decisions to aid the sector which, the PM said, were like "Diwali gifts for MSMEs". "As we speak, somewhere in the country your entrepreneurial bro...
Narendra Modi Soon to Launch Policy to Boost E-mobility in India
INDIA

Narendra Modi Soon to Launch Policy to Boost E-mobility in India

With the emerging market of electric vehicles all across the world, Indian Prime Minister Narendra Modi has also taken a step forward for the promotion of electric vehicles in the country. The Prime Minister on Friday stated that the government is soon going to introduce a policy on electric vehicles and alternative fuel technology to give a boost to e-mobility in India. “The world is now in the middle of a new mobility revolution” and India has “inherent advantages” to leverage this opportunity, Narendra Modi said. Exhorting industrialists and global business leaders to create a “new mobility ecosystem” that is in “sync with nature.” Modi also claimed that India can be the best market for the rapidly evolving technology. This announcement was made by the PM at the first Global Mobili...