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<keyword id="20448705" type="General" weightage="20" keywordseo="Waymo" source="keywords" meta.keywordsubtype="org" meta.entityname="Waymo" meta.hostid="261" meta.entityid="Waymo">Waymo</keyword>, the self-driving car whiz kid from Alphabet (aka Google’s big parent company), just made a splash by launching its robotaxis in Los Angeles! This means that anyone with the Waymo One app can now call up a driverless cab across a whopping 129-square-kilometre stretch of the city. It’s like having a robot chauffeur — without the awkward small talk! This isn’t Waymo’s first rodeo with robotaxis. They’ve been rolling around Phoenix since 2020 and then hit up San Francisco last year. In Los Angeles, after a short trial for some lucky early testers, Waymo opened up rides to the public. Now anyone can zip around L.A. traffic in style, with the car’s AI brain in control. Waymo’s journey started as a secret project back in 2009 and has come a long way since then. The company’s <keyword id="19967698" type="General" weightage="20" keywordseo="self-driving-cars" source="keywords">self-driving cars</keyword> have logged over 20 million miles without any major accidents — a record that certainly leaves human drivers in the dust. Meanwhile, Waymo’s competitor, Cruise (owned by General Motors), ran into some trouble when one of its <keyword id="21485769" type="General" weightage="20" keywordseo="driverless-cars" source="keywords">driverless cars</keyword> was involved in an accident with a pedestrian, resulting in a license suspension in California. <div type="Article" hostid="261" msid="107634470" title="A crowd set fire to a Waymo taxi in San Francisco, as tensions about driverless tech grow" mstype="2" mssubtype="0"></div>But Waymo’s big moves in the US raise an interesting question: what would happen if robotaxis rolled out in a place like India? The impact could be massive! India has millions of taxi drivers, and many rely on their daily fares to support their families. Not only is the work gruelling, such “gig workers” often earn shockingly less, and at increasingly shrinking profit margins. One source even noted earning only around Rs 30,000 a month while working as an Ola captain from Bengaluru. Thus, a widespread shift to driverless cars could be a serious blow to their livelihoods, especially in a country struggling with rampant levels of inflation. Therefore, there exists an issue of livelihoods on one hand and technological progress on the other, so if companies like Waymo ever bring robotaxis to India, it could shake things up in a big way. <div type="Article" hostid="261" msid="102751416" title="Sex in self-driving cars: Passengers are reportedly hooking up in San Francisco&amp;#39;s driverless taxis" mstype="2" mssubtype="0"></div>However, on the other side of the spectrum, there are undoubtedly some benefits to moving towards a fully-automated robotaxi fleet. For instance, road accidents cause over 1,50,000 deaths annually in India. Autonomous vehicles,which are designed to follow traffic rules strictly and reduce human error, could help lower these numbers. Additionally, driverless taxis could make transportation more accessible and affordable, especially in densely populated cities with high demand. Furthermore, such robotaxis would also provide a solution for passengers who experience language barriers or inconsistent service quality, as these vehicles are designed for efficient, standardised rides. There is also the hope that they could reduce traffic congestion and pollution with AI-driven routes that minimise idle time and fuel use. Waymo may be rejoicing in the spotlight at the moment, but there are several other companies in the robotaxi race, including Tesla, which has its “Cybercab” in the works, and Amazon’s Zoox, aiming to hit the streets of Las Vegas next year. Baidu’s Apollo is already making robotaxi runs in some Chinese cities, but each company faces its own unique set of challenges. In India, where roads are a blend of honking scooters, zig-zagging rickshaws, and plenty of cows on the streets, introducing robotaxis would require some serious tech tricks and regulatory green lights. Until then, L.A. can enjoy the driverless rides while the rest of us wait to see how this wild technology shapes the future.

No Driver? No Problem! Waymo’s driverless robotaxis make Los Angeles debut — but what could the tech mean for India?

Texas [US], April 6 (ANI): <keyword id="2785876" type="General" weightage="20" keywordseo="tesla-ceo-elon-musk" source="Orion">Tesla CEO Elon Musk</keyword> has announced that <keyword id="19895433" type="General" weightage="20" keywordseo="Tesla" source="keywords" meta.keywordsubtype="org" meta.entityname="Tesla" meta.hostid="261" meta.entityid="Tesla">Tesla</keyword> will unveil a '<keyword id="21214780" type="General" weightage="100" keywordseo="robotaxi" source="keywords">robotaxi</keyword>' on August 8. He made the announcement in a post on social media platform X, which stated: "<keyword id="21214781" type="General" weightage="20" keywordseo="tesla-robotaxi" source="keywords">Tesla Robotaxi</keyword> unveil on 8/8." In the past, Musk has expressed liking for self-driving vehicles, stressing that Tesla will make a car that did not have human controls and they will be one of Tesla's most important products. He had also said that Tesla cars, which will have full self-driving capability through software, gradually become better and better at driving, CNN reported. Musk added that the cars, at some point, will have the capability of operating as fully autonomous taxis and could earn money for their owners by giving taxi rides on their own. So far, Tesla has passed several of Musk's predictions for when actual self-driving would be possible. In April 2019, Tesla said it expected to start operating robotaxis by 2020. The company predicted that the autonomous car would last 11 years and drive 1 million miles, which would make the company and the car operators earn a profit of USD 30,000 each year. However, <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword> has admitted that his track for predictions can be off sometimes by a mile. In an event in April 2019, he said, "The only criticism and it's a fair one, sometimes I'm not on time. But I get it done and the Tesla team gets it done," according to CNN report. Presently, people can buy full self-driving capability with a new Tesla Model 3 for an additional USD 12,000 added to the car's roughly USD 40,000 purchase price. The full self-driving capability can be bought on a subscription basis for up to USD 199 a month, based on how the car was originally equipped. In small gray type, Tesla's on-line description reads, "The currently enabled features require active driver supervision and do not make the vehicle autonomous," implying that it is not, in fact, capable of fully self-driving today. According to Musk, the system will one day make Tesla cars incredibly valuable. In the company's call for the third quarter in 2023, he noted, "You can think of every car we sell or produce that has full autonomy capability as something that in the future may be worth five times what it is today." Experts who have tested the system have said that, as of now, it is still far from being able to drive on its own without human control, CNN reported. Kelly Funkhouser, associate director of vehicle technology for Consumer Reports, recently tested the system. Funkhouser said she is less worried about its safety than she is about ordinary Tesla Autopilot, which is made to give more limited driving assistance, particularly on highways. She said, "You're not likely to tune out and become complacent or over-reliant on it." Funkhouser added, "In fact, I would say you're potentially more alert, CNN reported. A number of companies, including Google's parent company Alphabet's subsidiary and GM subsidiary Cruise, are working on autonomous ride-sharing services. Cruise has halted testing work after one of its self-driving cars hit and dragged a pedestrian. An internal review found that representatives of Cruise did not fully open up with regulators regarding the incident. The US Department of Justice is conducting an investigation into the matter. Meanwhile, Waymo, recently, recalled its own cars after two of its cars hit the same tow truck within minutes of one another. Meanwhile, a report in the Financial Times had on April 3 said that Tesla Motors will send a team to scout locations in India this month for a proposed USD 2-3 billion electric car plant. This development comes after India lowered tariffs on higher-priced imported EVs last month for companies that commit to making them in the country within three years.

Tesla to unveil Robotaxi on August 8, Elon Musk announces

<keyword id="19894961" type="General" weightage="20" keywordseo="apple" source="keywords">Apple</keyword> has reportedly shelved its autonomous electric car project permanently and is likely to lay off "hundreds of employees" from the division, the media reported on Wednesday. According to a <keyword id="19895623" type="General" weightage="20" keywordseo="techcrunch" source="keywords">TechCrunch</keyword> report, the company is likely "cutting hundreds of employees from the team and all work on the project has stopped". Some employees will be shifted to Apple's generative AI (GenAI) projects. The Apple car project had around 1,400 employees. Apple first started working on its car project called "<keyword id="20318389" type="General" weightage="20" keywordseo="project-titan" source="keywords">Project Titan</keyword>" way back in 2014. In 2021, it hired <keyword id="20756225" type="General" weightage="20" keywordseo="ulrich-kranz" source="keywords">Ulrich Kranz</keyword>, a former BMW executive who helped run the i3 programme. In December last year, Apple delayed the launch of its electric vehicle, referred to as the 'Apple Car', until 2026 which was expected to be priced under $1,00,000. The tech giant also scaled back its vision for the self-driving electric vehicle. Initially, the <keyword id="19912026" type="General" weightage="20" keywordseo="iphone" source="keywords">iPhone</keyword> maker intended to create an automobile with no steering wheel or pedals, allowing passengers to sit facing one another in a limousine-style vehicle. Later, the project was reduced in scope and was set to have a more traditional design with a driver's seat, steering wheel and pedals, according to earlier reports. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/iqoo-neo-9-pro-with-snapdragon-8-gen-2-launched-in-india-will-take-on-the-oneplus-12r/articleshow/107908049.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/iqoo-neo-9-pro-with-snapdragon-8-gen-2-launched-in-india-will-take-on-the-oneplus-12r/articleshow/107908049.cms" target="_blank">iQOO Neo 9 Pro with Snapdragon 8 Gen 2 launched in India, will take on the OnePlus 12R</a><a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-14-to-launch-in-india-on-march-7-to-take-on-the-galaxy-s23-and-oneplus-12/articleshow/107841326.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-14-to-launch-in-india-on-march-7-to-take-on-the-galaxy-s23-and-oneplus-12/articleshow/107841326.cms" target="_blank">Xiaomi 14 to launch in India on March 7, to take on the Galaxy S23 and OnePlus 12</a><a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank">Pixel 8 Pro review: ‘Okay Google’ – The flagship smartphone ticks almost all boxes</a>

Apple cancels self-driving EV project, to lay off workers: Report

<ul class="summary-list"><li>Elon Musk visits China to expedite Tesla's full self-driving tech rollout, say reports.</li><li>Musk is set to meet with senior Chinese officials. </li></ul>Tesla CEO Elon Musk touched down in China on Sunday in the tech billionaire's second trip in less than a year to the world's biggest market for electric vehicles.The purpose of the trip is to hurry along the<a target="_blank" href="https://www.reuters.com/business/autos-transportation/elon-musk-heading-china-visit-teslas-second-biggest-market-sources-say-2024-04-28/"> rollout of Tesla's full self-driving technology</a>, the most advanced version of its Autopilot software, Reuters reported, citing an unnamed person familiar with the matter. Musk is expected to meet with senior officials to discuss the software and gain permission to transfer data overseas, the person said.Musk also visited China in May last year when he met with China's foreign, commerce and industry ministers. The content of the meetings was not disclosed, though <a target="_blank" href="https://www.reuters.com/business/elon-musk-visits-chinas-commerce-ministry-2023-05-31/">Reuters reported at the time </a>that Musk had discussed the development of electric vehicles.Earlier this month, Musk said in a <a target="_blank" href="https://twitter.com/elonmusk/status/1781558948144820578">post on X </a>that Tesla would be making Full Self-Driving (FSD) available to Chinese customers "very soon."In an earnings call on April 23, Musk <a target="_blank" href="https://www.businessinsider.com/tesla-stock-tsla-quarterly-earnings-call-report-live-updates-2024-4">said,</a> "So we plan on, with the approval of the regulators, releasing it as a supervised autonomy system in any market that — where we can get regulatory approval for that, which we think includes China."Tesla has been facing increased competition from Chinese manufacturers since electric vehicle maker Xpeng <a target="_blank" class="editor-rtfLink" href="https://www.reuters.com/technology/xpeng-aims-roll-out-driver-assistance-software-all-chinese-cities-by-2024-2023-03-31/">said</a> last year that it was upgrading its advanced driver assistance software (FSD equivalent) and planning to make all its functions available to drivers across China by 2024.Musk's China trip comes after he <a target="_blank" class="editor-rtfLink" href="https://www.reuters.com/world/india/teslas-elon-musk-postpones-india-trip-sources-say-2024-04-20/">canceled </a>a visit to India to meet Prime Minister Narendra Modi. Musk said he had "very heavy Tesla obligations."Tesla did not immediately respond to a request for comment from Business Insider, sent outside regular working hours.It has been a tough month for the EV manufacturer. <a target="_blank" href="https://www.businessinsider.com/tesla-stock-tsla-quarterly-earnings-call-report-live-updates-2024-4">In its earnings call last week,</a> Tesla reported its first decline in quarterly revenue since 2020, when the COVID-19 pandemic caused delays to production and deliveries.This month, The EV manufacturer said it would lay off 10% of its global workforce as it grappled with waning sales.US federal safety regulators also <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/feds-investigating-tesla-autopilot-recall-after-crashes-kept-happening-2024-4">said</a> Friday that they were launching an investigation into whether Tesla's recall of more than two million vehicles in the US, which the company announced in December to install new Autopilot safeguards, was sufficient following several crashes.

Musk makes his second trip to China in less than a year to hurry along self-driving tech rollout, reports say

<ul><li>With growing affluence and technology, the pace of consumerism in India’s small towns is growing fast, say experts.</li><li>Their love for premium products, products that exhibit self-love and care is driving them to shop online.</li><li>A confluence of technology, growing income levels, education and more has caused a cultural shift in small towns. </li></ul>India’s small towns have been running behind big cities for a long time — but that’s no longer true. Thanks to the juxtaposition of technology, rising income levels and policies – small towners are not what they once were. The biggest generational change is that — few dream of living in a big city. While most of them do not want to migrate, rising job opportunities, availability of first-grade educational institutions are ensuring they do not have to. “The pandemic has also ensured reverse migration where they can generate more income and enjoy a livelihood thanks to the digital revolution,” said Suraja Kishore, CEO of BBDO, an advertising agency, speaking at a webinar organized by Market Research Society of India (MRSI). Moreso, they are not unhappy with where they’re from either. “If you see, many of them introduce themselves with their district name and village name,” said Kishore, emphasizing on how strong their sense of identity has become. The Western sanskaris It’s not just attitudes that are changing – their income levels are rising almost on-par with their urban counterparts too. While the all-India urban average monthly household income has been growing at 8.4% for the last five years, it has been growing at a compounded annual growth rate (CAGR) of 7.8% in tier 2 and tier 3 cities, says Kantar. The number of graduates and postgraduates have also been growing at the exact same rate of 5.6% CAGR in urban areas as well as T2 and T3 cities, it adds. All this has been bringing a cultural shift in small towns, says Aditya Kaul, group account director at Kantar. “They enjoy the comfort of online shopping, and are also embracing Westernization at a faster rate, with the world at their fingertips,” adds Kaul. Kishore also agrees that the trend of trends ‘percolating’ from the West to big cities of India, and then to towns is gone. Love, thy self Now, liberated, small towners are also becoming consumers of premium products. “They are expressing affluence with an increasing focus on comfort and self-love. They are high on individualism, outspoken and more ambitious,” Kaul says. Kaul concurs, “There is a higher pace of growing consumerism in small towns along with growing individualism, outspokenness and more ambition.” It’s very much evident from their spending and buying habits. E-tailing or electronic retailing has been growing at 37% CAGR in T2 and T3 cities as compared to 20% in urban areas – between 2019 and 2022. While a large part of this change is credited to mobile telephony and technology, there are other factors at play too. “A lot of factors came together like government policy and economic growth. If technology had come when there was no money, or even policies were not aligned, it would have been different,” explains Aashish Shukla, consumer and market insights lead at ITC. Raw, not refined According to Kantar, as many as half the ‘urban consumers’ between 15-55 years, at around 139 million of them, reside in T2 and T3 towns. And their number is growing in small cities and towns beyond that too. The new-age consumers are growing in affluence and becoming more demanding, but are they easy to market to? The answer is not so easy, say branding and marketing experts. “In small towns, products have to be customized to their reality. For example, if they buy a mobile phone, they cannot courier in case of a defect to a service center in a bigger town and it takes a few months etc,” says Shukla. For a long time, small towns and villages have been bringing in volumes for FMCG giants due to their consumption of smaller sized packs, and most of them did away with smaller stock keeping units that served this purpose. That might no longer work, especially after many local brands – some offline and some completely online – have been creeping into the market and making a dent. Not only are these brands — across food, beauty and personal care — challenging large FMCG giants, they’re also winning hearts with their earthy flavour and feel. “They are sharper with their marketing and are heavily expanding. If you talk to many of them, they do not have local ambitions, they all want to expand nationally and internationally,” says Kishore. The urban and non-urban areas were divided on the basis of spending power, preferences and urbanization levels. But those theories are being unwound by the new consumer cohort that’s westernizing without urbanizing, buys premium products online without visiting malls – and racing ahead to a new reality.

The rising affluence of small town consumers driving demand for premium products

<ul><li><keyword id="8026361" type="General" weightage="20" keywordseo="pony-ai" source="Orion">Pony.ai</keyword> has commercialized robotaxi service in China.</li><li>The company had to qualify two years of autonomous driving tests.</li><li>For now, 100 robotaxi will operate in Guangzhou.</li></ul>The Chinese self-driving company Pony.ai, backed by <keyword id="6374528" type="General" weightage="20" keywordseo="toyota" source="Orion">Toyota</keyword>, gets taxi license to operate 100 autonomous vehicles as traditional taxis in Nansha, Guangzhou. Pony.ai has become the first company in the world to give robotaxi services in any city. Back in November 2021, Pony.ai gained approval for testing 67 vehicles in Beijing. The company also tried to establish its presence in the US but it has faced set back after its autonomous vehicles crashed in California on 28 October 2021, resulting in its permit getting suspended. According to Pony.ai, it has completed around 700,000 trips since April 2022 and 80% of riders are repeat customers. For qualifying taxi license, Pony.ai had to pass safety and other multifaceted vehicle qualification tests that were set by national inspection institutions. The company has to go through 24 months of testing, 1 million kilometers of testing and 200,000 kilometers of testing within Guangzhou. Pony.ai was founded by James Peng and Tiancheng Lou in California, in 2016. According to the company's vision, they aim to bring sustainability, safe and accessible mobility across the globe. The company has partnered with leading original equipment manufacturers (OEMs) like Toyota, FAW Group, and GAC Group. With the taxi license permit, Pony.ai will start operation in May. It will start charging fares in the 800 square kilometers of Nansha with its 100 robotaxis. The company also plans to expand its footprint to the other areas of Guangzhou and other tier-1 cities in China next year. To book a ride and pay for the service, passengers will use PonyPilot+ App. Robotaxis will operate both day and night time (8:30 to 22:30). The taxi fares will be standard. Currently, autonomous vehicles will have a driver present in the car but the company plans to remove them over a period of time. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/bought-twitter-shares-in-india-heres-what-will-happen-after-elon-musks-acquisition-and-twitter-going-private/articleshow/91090688.cms">Bought Twitter shares in India? Here’s what will happen after Elon Musk’s acquisition and Twitter going private</a> <a href="https://www.businessinsider.in/tech/enterprise/news/twitterati-go-crazy-with-memes-as-elon-musk-buys-twitter/articleshow/91089482.cms">Twitterati go crazy with memes as Elon Musk buys Twitter</a>

China gets its first commercial self-driving taxi service after two years of testing

Getting laid off from a company can be a jarring experience that you remember for a long time. Nobody is really prepared to receive a termination letter out of the blue. And when that happens in a global-scale organisation, it can come as quite a shock. This is exactly what happened with a <keyword id="19908290" type="General" weightage="20" keywordseo="microsoft-india" source="keywords">Microsoft India</keyword> <keyword id="20073977" type="General" weightage="20" keywordseo="employee" source="keywords">employee</keyword> back in 2005. He shared his experience on LinkedIn and wrote how he was laid off without a warning from the tech giant. <h2><keyword id="22643393" type="General" weightage="20" keywordseo="ex-microsoft" source="keywords">Ex-Microsoft</keyword> employee on getting laid off</h2>"No warning, no explanation - just a cheque and shown the door," the ex-Microsoft employee wrote. He added, "The mix of emotions I felt: anger, confusion, and that sinking feeling of failure was overwhelming. I called my wife, and she asked me to drive straight home. Instead of lashing out or drowning in self-pity, my wife and I sat down and talked and wrote down our choices. Acceptance didn't come easy, but it was the first step." He then mentioned how he went on a relentless job hunt after this experience and eventually started working at a new place. The ex-Microsoft employee also added that now when he looks back at the time when he was fired, it looks like that was a turning point in his life and forced him to confront fears, re-evaluate goals, and find a path that was "more aligned with his true likes." He then addressed people who are going through similar situations and reminded them that they are not alone. <h2>Layoffs in the tech world</h2>The tech industry has been seeing a rise in the number of layoffs since 2022. Major IT giants like <keyword id="19895622" type="General" weightage="100" keywordseo="Microsoft" source="keywords" meta.keywordsubtype="org" meta.entityname="Microsoft" meta.hostid="261" meta.entityid="Microsoft">Microsoft</keyword>, Meta, Amazon, Google, X (earlier Twitter) collectively laid off millions of employees across the world. People often share their experiences on LinkedIn, in hopes of either finding a better role or connecting with other like-minded people. Earlier today, Intel was making headlines for announcing a fresh round of layoffs. The chipmaker will be reducing 15 percent of its workforce and the decision was communicated to employees by CEO Patrick Gelsinger.

'No warning, no explanation': Former Microsoft India employee talks about his layoff experience

<ul class="summary-list"><li>Tesla hasn't engaged with India's government since Elon Musk canceled his trip in April, per Bloomberg.</li><li>Tesla was initially planning to build a new factory in India but seems to have shifted its focus.</li></ul>India may no longer be a priority for <a target="_blank" href="https://www.businessinsider.com/tesla">Tesla</a> and its CEO <a target="_blank" href="https://www.businessinsider.com/elon-musk">Elon Musk</a>.The mercurial billionaire's team hasn't engaged with the country's officials since he <a target="_blank" href="https://www.businessinsider.com/elon-musk-cancels-trip-to-india-tesla-layoffs-struggles-2024-4">canceled his trip to India</a> in April, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-04/india-s-hopes-for-tesla-investment-cool-as-musk-ceases-contact">reported</a> on Thursday, citing people familiar with the matter."Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year," Musk <a target="_blank" href="https://x.com/elonmusk/status/1781541775183610310">said</a> in an X post on April 20.Bloomberg's sources also said India's government doesn't expect Tesla to make any investments anytime soon as the company is experiencing capital issues.Tesla and India's heavy industry, finance, and commerce ministries did not respond to the outlet's requests for comment.The report comes as a surprise, considering Tesla has <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-build-india-factory-import-taxes-electric-vehicles-2021-7">long been eyeing India</a> as a potential area for expansion.In April, Reuters <a target="_blank" href="https://www.reuters.com/business/autos-transportation/teslas-musk-likely-unveil-2-3-bln-india-investment-during-visit-sources-say-2024-04-17/">reported</a> that the EV giant was planning to build a new factory in India as part of a $2 to $3 billion investment into the country. Musk was expected to announce the expansion plans during his planned visit to India.But Musk did still end up traveling to another Asian country in April. The Tesla CEO made a <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-china-visit-self-driving-autonomous-electric-cars-2024-4">surprise trip to China</a> just a week after scrapping his trip to India, where he met the country's second-highest-ranking politician, <a target="_blank" href="https://www.businessinsider.com/li-qiang-china-2nd-most-powerful-man-shanghai-lockdowns-2022-11">Li Qiang</a>.The trip was fruitful for Musk, who has advertised his ambitions of <a target="_blank" href="https://www.businessinsider.com/elon-musk-hawks-optimus-robot-in-attempt-to-resuscitate-tesla-2024-4">turning Tesla into a leading AI and robotics company</a>. According to a Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-29/tesla-clears-key-china-fsd-hurdle-with-baidu-mapping-deal">report</a> in April, Chinese officials gave their in-principle approval for Tesla to roll out its Full Self-Driving technology in the country.That said, India probably hasn't entirely fallen off of Musk's radar.Musk congratulated India's Prime Minister Narendra Modi on his government's electoral victory at the country's general elections. The pair had last met in New York in June 2023."Congratulations Narendra Modi on your victory in the world's largest democratic elections! Looking forward to my companies doing exciting work in India," Musk <a target="_blank" href="https://x.com/elonmusk/status/1799119259177488540">wrote</a> in an X post on June 7.Representatives for Tesla and India's commerce ministry didn't immediately respond to requests for comment from BI sent outside regular business hours.

Elon Musk is giving India the cold shoulder and ghosting officials on Tesla investments

Mumbai, Fintech players should form <keyword id="18684976" type="General" weightage="50" keywordseo="a-self-regulatory-organisation" source="Orion">a self regulatory organisation</keyword> for an orderly growth of the industry that is projected to have revenues of USD 200 billion by 2030, <keyword id="7268643" type="General" weightage="20" keywordseo="rbi-governor-shaktikanta-das" source="Orion">RBI Governor Shaktikanta Das</keyword> said on Wednesday. Addressing the industry at the <keyword id="9621521" type="General" weightage="50" keywordseo="global-fintech-fest" source="Orion">Global Fintech Fest</keyword> here, Das said fintech players need to evolve industry best practices to avoid misselling, stress on ethical practices, pricing transparency and take care of privacy and data protection concerns. "I would like to use this opportunity to urge and encourage the fintechs to establish a Self Regulatory Organisation (SRO) themselves," he said and assured all help from the Reserve Bank of India (RBI) for the process. The fintech players should form the SRO at the earliest, Das said and hoped that such a platform will be ready at least by the next edition of the yearly event. Stating that other industries also have SROs, Das said forming an SRO will help the players to voice their concerns. He also said that having the SRO will reduce the burden of regulating a dynamic sector off the RBI's shoulders. Das said regulators play a critical role in addressing arbitrage, ensuring compliance with existing laws, and adopting regulations as per technological advancements. Further, he asked the fintech players -- most of them startups -- to avoid the "relentless drive for valuations" and profits, and asked them to focus on customer centricity. "... to focus on customers means embracing a customer-centric approach to innovation by understanding the needs of customers, making provisions that protect customer interests and earn their trust," he added. He said that good governance will be key to durable and long term success of any company and in particular, the fintech players. Technological innovation has "unprecedented potential" to make finance more inclusive, competitive and robust, Das said, adding that advancements in technology need to evolve in a "responsible" manner. "Fintech players should themselves ensure responsible digital innovations. The Reserve Bank on its part will continue to drive the necessary regulatory and other policy measures to promote a vibrant and responsive fintech ecosystem," he said. While stressing that the coming years hold immense promise which need to be leveraged by innovators, the RBI chief said that as per projections, the fintech sector revenues are set to touch USD 200 billion by 2030. "We are at the cusp of a major transformation in fintech sector". Das also spoke about the progress on the Central Bank Digital Currency and said that newer use cases will be soon added on the wholesale CBDC front. The CBDC retail pilot is currently being operated through 13 banks across 26 cities, Das said, adding that around 1.46 million users and 0.31 million merchants are currently part of the pilot as on August 31, 2023. RBI has also enabled full inter-operability of CBDC with UPI QR codes, and is targeting 10 lakh CBDC transactions per day by December 2023 which will give it sufficient data points for analysis, Das said. Meanwhile, Srinivas Jain, the Co-Chairman of the Fintech Convergence Council, said it will be working earnestly to have an SRO in place at the earliest. "We are not on the same pages on who all from the fintech space can be members as currently this space is dominated by payments tech players but there are many others also in the fray," he told PTI.

RBI Governor asks fintech players to form self regulatory organisation

With the <keyword id="20613906" type="General" weightage="20" keywordseo="economic-survey" source="keywords">Economic Survey</keyword> flagging a rise in <keyword id="19956983" type="General" weightage="100" keywordseo="mental-health" source="keywords">mental health</keyword> issues among <keyword id="19916609" type="General" weightage="20" keywordseo="Indians" source="keywords">Indians</keyword> calling for a <keyword id="20740266" type="General" weightage="20" keywordseo="paradigm-shift" source="keywords">paradigm shift</keyword> on how to address the problem, experts on Monday said it is an unaddressed health crisis in India. They called for increasing accessibility to mental health resources, raising <keyword id="19927137" type="General" weightage="20" keywordseo="awareness" source="keywords">awareness</keyword>, reducing <keyword id="20448786" type="General" weightage="20" keywordseo="stigma" source="keywords">stigma</keyword> and developing robust support systems to tackle the issue while also highlighting the need to find comprehensive solutions to contributing factors such as work pressure and societal expectations, among others. "Mental health problems are an unaddressed health crisis in India. Nearly 20 per cent of people live with mental health problems in India. Depression and anxiety are common causes of disability. There is a treatment gap of more than 80 per cent," Achal Bhagat, Senior Consultant Psychiatrist and Psychotherapist at Indraprastha Apollo Hospital, Delhi, said. The indirect economic cost of loss of livelihoods due to mental health is significantly high as it is not only for the person living with mental health problems but also due to the loss of livelihoods for the caregivers, he added. Expressing similar views, Shambhavi Jaiman, Consultant Psychiatrist at Fortis Memorial Research Institute, Gurugram, said the impact on productivity is substantial, reflecting the broader implications for societal well-being and economic stability. "The contributing factors - work pressure, societal expectations, financial worries, and insufficient support systems - create a complex web of stressors that require comprehensive solutions," she added. Jaiman said addressing mental health issues involves increasing accessibility to mental health resources, raising awareness, reducing stigma and developing robust support systems. "Creating a supportive environment where mental health is prioritised is essential for fostering a healthier, more productive society," she said. Sameer Malhotra, Senior Director and Head Dept of Mental Health and Behavioural Sciences at Max Super Speciality Hospital, Saket, pointed out that factors such as growing consumerism, excessive competition, shrinking social and family support networks, increased pace of life and growing distress, timeline pressures, lesser time for self and family are driving rise in mental health problems globally. "Disturbed mindset influences concentration, productivity at work and economics as well," he added. The Economic Survey 2023-24 flagged a rise in mental health issues among Indians, calling for a paradigm shift towards a bottom-up, whole-of-community approach to address the problem. Although it noted that India is creating positive momentum in policy development by recognising mental health as a fundamental aspect of overall well-being, the survey said, "While most of the policy design is in place, proper implementation can accelerate the improvement on the ground. That said, there remain certain gaps in the existing programmes which need to be addressed to maximise their effectiveness". The fundamental issue of the lack of awareness about mental health and the stigma surrounding it can render any sincerely crafted programme unfeasible, it added. "Hence, there is a need to bring about a paradigm shift and utilise a bottom-up, whole-of-community approach in addressing the topic of mental health. Breaking the stigma starts with taking cognisance of the natural human tendency to accept physical ailments and seeking treatment for the same while being in denial about mental health issues," the survey said. To an extent, the denial is an outcome of fear about social attitudes and social acceptance after one 'comes out' with mental health issues, it said. "For public health officials, tackling mental health requires acknowledging and addressing this fundamental reluctance. Arguably, mental health issues drag down productivity more widely in the ecosystem than individuals' physical health issues. Hence, paying attention to mental health issues in society is both a health and an economic imperative," the document noted.

Mental health problem an unaddressed health crisis in India: experts after Economic Survey findings

Elon Musk-owned electric vehicle company Tesla is working on moving driver profiles to the cloud for backing up driver profiles. In Tesla software updates reports there is a reference to a new feature called "Cloud Profiles", which gives the user the option to aEnable Vehicle Sync' for individual driver profiles. Musk previously said cloud-synced profiles were on the way and one can expect Cloud Profiles feature to be available in a software update later this year. Musk has also been talking about putting user profiles in the cloud to automatically load all preferred settings onto a new Tesla vehicle. US-based rental car company <keyword id="187854" type="General" weightage="20" keywordseo="hertz" source="Orion">Hertz</keyword> recently announced that it had ordered 100,000 Tesla vehicles, however Musk said no contract has been signed with Hertz after the rental car company Meanwhile, Hertz told BBC that deliveries of the Teslas have already started. "As we announced last week, Hertz has made an initial order of 100,000 Tesla electric vehicles and is investing in new EV (electric vehicle) charging infrastructure across the company's global operations," a spokeswoman was quoted as saying. Hertz refused to confirm if a contract had or had not been signed with Tesla in the light of Musk's tweet, adding it did not discuss details of its business relationships or discussions. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/elon-musk-owned-starlink-forms-subsidiary-in-india-will-soon-apply-for-licenses/articleshow/87480590.cms">Elon Musk-owned Starlink forms subsidiary in India, will soon apply for licenses</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/hit-by-apple-fees-facebook-offers-creators-new-way-to-earn-money/articleshow/87522261.cms">Hit by Apple fees, Facebook offers creators new way to earn money</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/crypto-defi-protocols-lost-1-4-billion-this-year-but-recovered-over-half-of-it/articleshow/87505660.cms">Crypto DeFi protocols lost $1.4 billion this year but recovered over half of it</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/here-is-why-cleartax-clinched-a-deal-with-the-worlds-most-valued-fintech-company/articleshow/87509691.cms">Here is why Clear(Tax) clinched a deal with the world's most valued fintech company</a>

Elon Musk's Tesla is working on creating back ups for driver profiles

<keyword id="2832619" type="PERSON" weightage="20" keywordseo="Tesla-CEO">Tesla CEO</keyword> <keyword id="6355315" type="UNKNOWN" weightage="20" keywordseo="elon-musk">Elon Musk</keyword> has revealed the company has started rolling out its next-gen Full Self Driving (FSD) set of features to a limited number of expert and careful drivers. The customers in <keyword id="107096" type="COMPANY" weightage="20" keywordseo="Tesla">Tesla</keyword>'s Early Access Programme will receive software updates, which will give drivers access to Autopilot's 'partially' automated driver assistance system on city streets. The Early Access program serves as a testing platform to help fix software bugs. More Tesla owners would get the update as the time passes, with the goal of a "wide release" by the end of the year. "Regarding the Full Self-Driving beta release, the Autopilot team, again, is just a really all-star team. I spent a lot of time with the Autopilot team. And there's a lot of really talented people in that team who have worked incredibly hard to make the -- to get the beta release out," Musk said during the company's Q3 earnings call on Wednesday. Musk has been talking about 'Full Self Driving' a lot in the past couple of years, calling it an investment in the future that will become far more valuable once fully autonomous cars get regulatory approval. Earlier, he explained that with feature-complete FSD, the car will be able to drive without human intervention but it would still be supervised. Tesla also rolled out the 2019.40.2 version of its software to some electric vehicle owners and this update includes features like Adjacent Lane Speed Adjustments and Stop Sign Detection that are required for FSD. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/hcl-tech-is-bringing-employees-back-to-offices-weekly-once-to-start-with/articleshow/78802219.cms">EXCLUSIVE: HCL Tech is bringing employees back to offices — once a week to begin with</a> <a href="https://www.businessinsider.in/business/corporates/news/kumar-mangalam-birla-says-cement-industry-is-recovering-and-analysts-find-evidence-of-it-outside-ultratech-too/articleshow/78791281.cms">EXCLUSIVE: Billionaire Kumar Mangalam Birla is surprised by the rebound in infrastructure and construction in India</a> <a href="https://www.businessinsider.in/india/news/bonus-for-30-lakh-public-sector-employees-announced-by-union-cabinet/articleshow/78786783.cms">Bonus for 30 lakh public sector employees announced by Union Cabinet</a>

Musk is rolling out Tesla's new 'Full Self Driving' beta for a limited number of drivers

The <keyword id="19915423" type="General" weightage="20" keywordseo="Indian-Chamber-of-Commerce" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Chamber of Commerce" meta.hostid="153" meta.entityid="Indian Chamber of Commerce">Indian Chamber of Commerce</keyword> (ICC) has suggested the government to rationalise <keyword id="6360806" type="General" weightage="20" keywordseo="customs" source="Orion">customs</keyword> duties in various sectors including steel, solar battery, aluminum, and lithium cells in a bid to boost <keyword id="20053977" type="General" weightage="20" keywordseo="domestic-manufacturing" source="keywords">domestic manufacturing</keyword>. Finance Minister Nirmala Sitharaman is scheduled to present the <keyword id="6360189" type="General" weightage="20" keywordseo="union-budget" source="Orion">Union Budget</keyword> for financial year 2024-25 on July 23. ICC President Ameya Prabhu said protective measures are needed for the growth of domestic industry in sectors including steel, solar battery, aluminum, and lithium cells. "There is a need for rationalisation of <keyword id="20454068" type="General" weightage="20" keywordseo="customs-duty" source="keywords">customs duty</keyword> in these specific sectors in a holistic manner. Huge potential is there to boost domestic manufacturing and make India a global hub for manufacturing," Prabhu said. He added that levies on raw materials impact domestic players particularly the downstream firms. He also asked for correction in inverted duty structure by cutting down duty on mixed petroleum gas from 5 per cent to 2.5 per cent. "To boost domestic manufacturing, there is a need to increase duty on polymers - polyvinyl chloride, polyethylene terephthalate, polypropylene and polyesters to 10 per cent. This will help in reducing import dependency and will drive India towards self-sufficiency in the petrochemical manufacturing segment," Prabhu said. Talking about the importance of the aluminium foil sector, the President said the domestic industry has been facing severe losses as there is anti-dumping duty on raw materials whereas the finished goods are not subject to any duties on imports from China. "This dual effect has resulted in extensive net losses to the companies that have made significant investments into this industry," Prabhu noted. On the taxation side, the chamber has suggested setting up a commission to review the Income Tax Act 1961 in its entirety and simplify the provisions. "This is an old Act. Every year in the <keyword id="6358021" type="General" weightage="20" keywordseo="budget" source="Orion">Budget</keyword>, amendments are made which has made this Act complex to understand. These amendments have resulted in many anomalies which in turn have given rise to a large number of legal cases," the chamber has said. Prabhu further recommended the government not to impose tax on dividends. He added that during his tenure so far the ICC has spread its wings further nationally and internationally and become a truly world-class chamber. "We have opened 25 chapters globally in countries including New Zealand, the US, Europe, Australia, Korea and Middle East nations," he said.

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