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<ul><li>A study by <keyword id="19900426" type="General" weightage="100" keywordseo="Accenture" source="keywords" meta.keywordsubtype="org" meta.entityname="Accenture" meta.hostid="261" meta.entityid="Accenture">Accenture</keyword> says GenAI could add billions to Indian economy</li><li>The study added that 31 percent of working hours in India could be automated</li><li> Indian economy could be up by as much as USD 675 billion by 2038</li></ul> In the last two years, there have been many debates about the possibility of AI replacing human beings at their jobs. Various tech experts have expressed their opinions on this. While there is one section of people saying that AI will make it easier for human beings to do their jobs, there is another section that fears being replaced altogether. Talking about the section that thinks AI will help humans do their jobs better, various experts have said in the past that AI will focus on mundane aspects of a job so that human beings can be fully focused on more challenging and creative parts. And a new study by Accenture seems to support this argument. Moreover, the study also says that due to the use of generative AI, Indian economy could be up by as much as USD 675 billion. <h2>GenAI could add USD 675 billion to Indian economy</h2>According to the study by Accenture, adopting a people-centric approach to GenAI could potentially add USD 675 billion to India's economy by 2038. This transformative impact hinges on a bold vision for reinvention, underscored by strong data and technology foundations, and an intentional approach to workforce development. The <keyword id="22702248" type="General" weightage="20" keywordseo="Accenture-study" source="keywords">Accenture study</keyword> highlights that the deployment of GenAI could automate approximately 31 percent of working hours in India. This significant shift is expected to contribute a 0.6 percentage point increase to the annual GDP growth, showcasing GenAI's potential as a powerful economic driver. However, the journey to harnessing this potential is fraught with both opportunities and challenges. For the unversed, generative AI, a subset of artificial intelligence, involves machines generating text, images, or other media in response to prompts. This technology has far-reaching implications for industries ranging from capital markets to retail, banking, insurance, and software platforms. Globally, these sectors are expected to witness the automation or augmentation of 49% to 71% of working hours due to GenAI. <h2>31 percent automation in India</h2>The Accenture study also highlights that in the Asia-Pacific region, the impact of GenAI is anticipated to be substantial, with Australia and Japan seeing the highest impact at 45% and 44% of working hours, respectively. For India, the projection of 31% automation signifies a seismic shift in how businesses operate and how work is performed. <keyword id="22702250" type="General" weightage="20" keywordseo="saurabh-kumar-sahu" source="keywords">Saurabh Kumar Sahu</keyword>, Lead for India Business at Accenture, underscored the necessity of a bold vision for reinvention. He said that the scaled and responsible deployment of GenAI can drive revenue growth and act as a force of change, reinventing functions across industries. However, unlocking the real value of GenAI requires businesses to have robust data and technology foundations. "The scaled and responsible deployment of generative AI can not only drive revenue growth but also act as a force of change that can reinvent almost all functions across industries. To unlock its real value, businesses need to have a bold vision for reinvention anchored in a strong data and technology foundation. This, coupled with an intentional approach to skilling, is crucial to succeed in the age of generative AI," Sahu said in a statement according to a report in Business Standard. <h2>89 percent businesses plan to increase AI spending</h2>Despite the promising prospects, there is a critical gap in preparation that could hinder the effective integration of GenAI. The Accenture study reveals that while 89% of businesses plan to increase spending on AI, only 35% prioritise workforce development. Moreover, a mere 4% of business leaders have implemented GenAI training at scale. This disparity underscores the urgent need for comprehensive skill development programs. As organisations embrace GenAI, equipping the workforce with the necessary skills is important to ensuring that the technology's implementation is both effective and sustainable. SEE ALSO: <a href="https://www.businessinsider.in/artificial-intelligence/news/verizon-sees-early-success-using-generative-ai-to-answer-questions-from-business-customers/amp_articleshow/112145960.cms" data-type="tilCustomLink" target="_blank">Verizon sees early success using generative AI to answer questions from business customers </a><a href="https://www.businessinsider.in/tech/news/yup-ai-is-basically-just-a-homework-cheating-machine/amp_articleshow/112330231.cms" data-type="tilCustomLink" target="_blank">Yup, AI is basically just a homework-cheating machine</a>

Indian economy could get USD 675 billion due to AI by 2038, study shows

Prime Minister Narendra Modi's "short but a very productive visit" to Jakarta, where he participated in the <keyword id="1493716" type="General" weightage="20" keywordseo="ASEAN-India-Summit" source="Orion">ASEAN-India Summit</keyword> and the East Asia Summit, has concluded on Thursday, said Secretary (East), <keyword id="6374106" type="General" weightage="50" keywordseo="ministry-of-external-affairs" source="Orion">Ministry of External Affairs</keyword> (MEA), <keyword id="331724" type="General" weightage="50" keywordseo="saurabh-kumar" source="Orion">Saurabh Kumar</keyword>. "Prime Minister's participation in this summit will give India-ASEAN relations a strategic direction," said Secretary Kumar. In a short video message posted on X, by MEA spokesperson <keyword id="10953867" type="General" weightage="50" keywordseo="arindam-bagchi" source="Orion">Arindam Bagchi</keyword>, Kumar summarised the key takeaways of <keyword id="2238662" type="General" weightage="100" keywordseo="pm-modi" source="Orion">PM Modi</keyword>'s Jakarta visit. He said that PM Modi highlighted the "need to amplify the voice of the Global South, including in the G20". The <keyword id="5891" type="General" weightage="80" keywordseo="asean" source="Orion">ASEAN</keyword> leaders welcomed PM Modi's leadership in the G20 and wished him success and also congratulated India for the successful Chandrayaan-3 mission. "Prime Minister had comprehensive discussions, including in areas such as connectivity, maritime cooperation, digital transformation, trade and economy, environment, health and traditional medicines. In each of these, the Prime Minister made specific proposals, which has already been put out in the form of a twelve-point proposal," said Kumar. He added, "Two joint statements were issued between India and ASEAN. These relate to maritime cooperation and food security. In maritime cooperation, areas such as safety and security of the maritime area, maritime domain awareness, disaster management, blue economy, et cetera, have been covered." Prime Minister also announced the formation of an ASEAN India Fund for Digital Future, which would provide financial connectivity between ASEAN and India, said Kumar, adding, "Prime Minister also announced support for ERIA (Economic Research Institute for ASEAN and East Asia), which is an ASEAN think tank, which would be our knowledge partner to further deepen ASEAN-India relations." He also said that the Prime Minister, during his interactions and discussions, "called for a free, open and rules-based Indo-Pacific, emphasised ASEAN centrality and made the point that cod complements the same". Following his participation in the summits, PM Modi thanked Indonesian President, Joko Widodo, and the people. "Had a very short but fruitful Indonesia visit, where I met ASEAN and other leaders. I thank President @jokowi , the Indonesian Government and people for their welcome," wrote PM Modi on X. PM Modi, who is in Jakarta, will return to New Delhi on Thursday evening ahead of the <keyword id="42982" type="General" weightage="20" keywordseo="g20-summit" source="Orion">G20 Summit</keyword>, which will be held on September 9 and 10. ALSO READ: <a href="https://www.businessinsider.in/india/news/g20-check-out-the-full-list-of-restricted-roads-in-delhi-during-summit/articleshow/103436759.cms" data-type="tilCustomLink" target="_blank">Delhiites, here are all the traffic restrictions as a result of the G20 summit</a>

ASEAN-India Summit: PM Modi highlights need to amplify voice of Global South during Jakarta visit

More than nine in 10 Indian consumers, that is about 95 per cent, want an all-in-one platform to get better entertainment experiences, a new report said on Monday. While 72 per cent of consumers in the country said they would pay for an all-in-one platform for their entertainment services, five in six want the option to share their streaming profiles across platforms for better content personalisation, according to the report by <keyword id="6370971" type="General" weightage="100" keywordseo="accenture" source="Orion">Accenture</keyword>. "With a growing focus on revenue over the content and rising customer dissatisfaction with their media experiences, the streaming industry is at a critical stage of evolution," said <keyword id="5685226" type="General" weightage="50" keywordseo="saurabh-kumar-sahu" source="Orion">Saurabh Kumar Sahu</keyword>, managing director and lead for Communications, Media and Technology industry group, Accenture in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>. "To stay relevant and profitable in an increasingly competitive media landscape, streaming service providers need to reimagine the entertainment ecosystem keeping in mind consumer needs for simplicity, customisation and affordability," he added. Moreover, the report also revealed that around 41 per cent of consumers in India unsubscribed from at least one of the top five streaming video-on-demand services in the last 12 months and 42 per cent said that they plan to remove one or more in the next 12 months. Over six in 10 consumers (62 per cent) in the country reported frustration at finding something to watch. While 77 per cent of users reported feeling overwhelmed by the range of streaming services available, 30 per cent said it takes more than 10 minutes to settle on a streaming choice, said the report. Further, the report mentioned three emerging roles for entertainment companies competing for consumers' time, attention and money are-- audience aggregators, audience cultivators and content merchants. "The shifts in consumer preferences and behaviour point towards the need for aggregation. As value becomes the key determinant of success, media companies need to become more customer-centric using data and analytics," said <keyword id="250493" type="General" weightage="50" keywordseo="neeraj-sharma" source="Orion">Neeraj Sharma</keyword>, managing director of Communications, Media and Technology, at Accenture in India. "Prior to the pandemic, star presence was a big draw for video streaming content, however in the post-pandemic economy story, treatment and performances have emerged as the real hero," he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/amazon-launches-dedicated-air-cargo-service-for-faster-deliveries-in-india/articleshow/97246478.cms">Amazon launches dedicated air cargo service for faster deliveries in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/battery-start-up-log9-material-raises-40-million-series-b-funding-from-amara-raja-petronas-and-others/articleshow/97246206.cms">Battery start-up Log9 Material raises $40 million Series B funding from Amara Raja, Petronas and others</a>

Over 9 in 10 Indian consumers want all-in-one platform for entertainment: Accenture

The Indian <a href="http://www.businessinsider.in/searchresult.cms?query=power+sector&amp;sortorder=effectivedate">power sector</a> has been abuzz since the <a href="http://www.businessinsider.in/searchresult.cms?query=NDA+government+&amp;sortorder=effectivedate">NDA government </a>took over. 
 From announcing UDAY (Ujwal DISCOM Assurance Yojana) to boosting domestic <keyword id="500152" type="UNKNOWN" weightage="60" keywordseo="coal-supply">coal supply</keyword>, ramping up the country’s ailing transmission networks offering subsidized gas to plants, several initiatives have been introduced. 
 
EESL’s Managing Director Saurabh Kumar told Business Insider the current government’s efforts are ‘laudable’ in an exclusive interview on the sidelines of the Energy Infra Post launch. 
 “The <keyword id="6385673" type="UNKNOWN" weightage="80" keywordseo="power-sector">power sector</keyword> has transformed in the last 2 years, after the new government came in. Coal production has gone up, supply has improved, and attempts are being made to improve transmission lines. That’s laudable”, Kumar told reporters. 
 
Domestic <a href="http://www.businessinsider.in/searchresult.cms?query=coal+supply&amp;sortorder=effectivedate">coal supply</a> has improved and international coal prices have fallen over the last two years. Thermal power, which accounts for approx 70% of the country’s power generation, rose around 5% to 943 billion units in 2015-16. The country’s thermal power capacity has shot up more than 11% to 2,10,675 MW by March 2016. 
 
According to the government’s targets, the country’s transmission lines network will be expanded to a further 3,64,900 cKm by March 2017. The addition of 2,49,400 MVA transformation capacity during 2012-16, has been the highest ever in the country’s history. 
 
When asked about the country’s power challenges, Kumar said, “Wind power is under-utilized, renewable power should be more widely adopted and we’ll have to bring focus back to hydro-electric power. Coal and gas-based power plants must also be revived.” 
 
The current government has been conducting auctions to revive stranded gas-based plants. 
 
Image credit: Indiatimes

‘India’s Power sector has
transformed in the last 2 years’: EESL MD
Saurabh Kumar

What started as a B2B company connecting mandis to stores is now also a B2C company connecting consumers with their local neighborhood merchants such as grocery shops, fruit and vegetable vendors, bakeries or pharmaceuticals via their apps on Android and IOS. Yes, it’s <a href="http://www.businessinsider.in/searchresult.cms?query=grofers">Grofers</a> we are talking about. While organizing the supply chain for local stores, they identified that the store-customer link was highly unorganized. Either the shop owners didn't answer the phone or they ran out of stock. Seeing that there was no player in the market addressing this pain point of customers, <keyword id="2466939" type="UNKNOWN" weightage="100" keywordseo="Grofers">Grofers</keyword> jumped in! 
 From 200 delivery boys and team of 25 in December last year, the company has come a long way in less than a year’s time with a plush office in Gurgaon, 4,000 delivery boys, over 5,000 merchants and 1000 plus team members. Clearly, it has in the last one year not only set up the link, but has gone aggressive in expansion (in tier 2 cities), building their team and crafting a well-knit merchant network, after raising several rounds of <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword> from investors including Tiger Global Management and Sequoia Capital among others that totals up to $46.5 million. "We are in talks with <a href="http://www.businessinsider.in/searchresult.cms?query=Softbank+">Softbank</a> for funding but nothing is finalized yet," Grofers founder <keyword id="331724" type="PERSON" weightage="100" keywordseo="Saurabh-Kumar">Saurabh Kumar</keyword> told Business Insider. 
 
Even as the company plans to expand operations to a few more cities, their focus remains on introducing new categories for customers (like electronics, cosmetics, stationary etc), fine-tuning back-end operations for ensuring availability of stocks at all stores in their listings, educating merchants on importance of 'dark stores' and enhancing customer experience. 
 
“We observed our supply side wasn’t scaling up the same way as we were,” Saurabh tells us. “Merchants give us inventory, we include it in our listings. Despite having 5,000 merchants, we do not have real time information about the products on their shelves. This leads to problems in fulfilling needs of customers in times of sudden rise in demand say over the weekends,” he says. 
 
The company is in efforts to rectify this problem by sharing data of purchasing pattern and educating merchants on the types and quantity of products they should keep in their shops. In addition, they are also encouraging the store owners to open what are called ‘dark stores’ where the stock Grofers will buy from them to deliver to customers will be stored. 
 
“It’s like a back door for us where no customer would walk in. It would be exclusively for us to keep a track of the products that have been supplied to a merchant and the real time status of their shelves so that it’s easier for us to manage and at no time, there is a crunch situation,” he says, adding that a lot of time, energy and technology is being put into use to realize this model. This will help each and every store listed with Grofers to be prepared with enough stock with them always to meet the demands of customers. 
 
The firm is so focused on building foolproof processes to ensure great customer service, it has no time or interest in investing in marketing the brand. “Look, celebrity faces help spike demand for a few days, that’s it, Ultimately if our services are good, our merchants get demand all the time, our customers are supplied quality products they ordered in 90 minutes, we do not need any marketing. Our services have to speak for us and that’s what we are working on,” says Saurabh. Ever since the company started the B2C business, their merchants and delivery boys have championed their brand on the ground. “Word of mouth has been key for us. As the buzz grew and our delivery boys were seen moving around, people started talking about Grofers,” he says. 
 
He doesn’t see e-commerce players like <a href="http://www.businessinsider.in/searchresult.cms?query=flipkart">Flipkart</a> and Amazon entering the fresh produce segment as a threat. In fact a lot of people starting transacting online with Grofers after becoming habitual to the concept of online buying procedures while using e-commerce websites. “We are happy because the more the buzz, the more people feel secure and comfortable in buying things online. They become habitual to it. Then give them a new option and you can see them wanting to explore options that they may have not in the past for example fresh fruits and vegetables,” says Saurabh. 
 
Also increasing competition doesn't seem to be bothering Saurabh and his partner Albinder Dhindsa because Grofers already owns the supply chain for fresh produce, an aim they set out with from the beginning. “It’s difficult to control quality of perishable items because each store would have different standards. We do it for the stores listed with us. Everything right from procurement of fresh produce from mandis to processing, cleaning and packaging is done by us. No human hand touches it after it has left our centers. We bring it to merchants and from their deliver to customers as per orders. We own the entire supply chain in fresh produce and we aim to do that for other categories too in future,” he says. 
 
This well established supply chain has also compelled FMCG companies to approach Grofers at times of launching new products or offers. “A lot of brands are coming onboard and doing product launches around <a href="http://www.businessinsider.in/searchresult.cms?query=Diwali+">Diwali</a> with us like Cadbury is launching exclusive hampers on our platform. If they go by their distribution model, it would take them lot of time to reach the customers, so seeing our hyper local connectivity, they come to us,” he says, adding that Grofers is trying to find ways of giving these brands better visibility. Aware of the fact that their supply chain model attracts MNCs, they intend on being able to manage the supply chain of these MNCs in the times to come. 
 
“For customers, Grofers wants to make life easy. You want anything from that local store round the corner, our merchants should have it in stock and you should be able to find it easily on our apps at any time. We want that you find it easier to turn to Grofers and order than going all the way to the store or using another platform. That’s requires good technology, established back-end processes, good quality supply of products, timely delivery and trust and we are working very hard on building all of that,” says the founder.

Exclusive: Strengthening backend operations for great customer experience, Grofers wants to be one-stop app for all your daily needs

Senior stars including skipper <keyword id="19899523" type="General" weightage="20" keywordseo="Rohit-Sharma" source="keywords">Rohit Sharma</keyword>, premier batter <keyword id="19907934" type="General" weightage="20" keywordseo="Virat-Kohli" source="keywords">Virat Kohli</keyword>, pace spearhead Jasprit Bumrah and leading spinner R Ashwin received exemptions as the national selectors struck a fine balance between domestic performers and potential talent while picking up four squads for the <keyword id="21466887" type="General" weightage="20" keywordseo="Duleep-Trophy" source="keywords">Duleep Trophy</keyword> starting September 5 in Bengaluru. The tournament will feature international stars such as <keyword id="19929450" type="General" weightage="20" keywordseo="Shubman-Gill" source="keywords">Shubman Gill</keyword>, Yashasvi Jaiswal, leading all-rounders <keyword id="19896466" type="General" weightage="20" keywordseo="Ravindra-Jadeja" source="keywords">Ravindra Jadeja</keyword>, Axar Patel, wrist spinner Kuldeep Yadav and pacer Mohammed Siraj. T20 captain <keyword id="19908088" type="General" weightage="20" keywordseo="Suryakumar-Yadav" source="keywords">Suryakumar Yadav</keyword>, who had played one Test against Australia in 2023 has also been picked. Apart from Surya, the others have confirmed slot in the team. Wicketkeeper <keyword id="19907058" type="General" weightage="20" keywordseo="Rishabh-Pant" source="keywords">Rishabh Pant</keyword>, who was part of India's T20 World Cup winning team, will also be featuring in the tournament, making it his first red-ball assignment after coming back from that horrific car accident in 2022. Also back in business will be another left-handed keeper <keyword id="19908087" type="General" weightage="20" keywordseo="Ishan-Kishan" source="keywords">Ishan Kishan</keyword>, who was removed from <keyword id="19901245" type="General" weightage="20" keywordseo="BCCI" source="keywords">BCCI</keyword>'s central contracts list after he skipped the Ranji Trophy tournament last season giving priority to cash-rich IPL. Sarfaraz Khan and Dhruv Jurel, both of whom played vital role in India's home series win against England are also in the mix. Keepers Aryan Juyal and Abhishek Porel are also part of the various squads. India players were supposed to play only one match and hence Kohli, Rohit, Bumrah and Ashwin were given exemptions. They had the choice to opt out as first reported by PTI on July 16. Suryakumar is part of Team C, led by Ruturaj Gaikwad, which also has two exciting young pacers -- Anshul Khamboj and Himanshu Chauhan, who would be under the scanner of the selectors following their exploits last season. Mohammed Siraj and Jadeja will turn up for Team B which also comprises Pant, Yashasvi Jaiswal and Washington Sundar, while Shubman Gill will captain Team A, which consists of Kuldeep, <keyword id="19907933" type="General" weightage="20" keywordseo="KL-Rahul" source="keywords">KL Rahul</keyword>, Shivam Dube and Riyan Parag among others. Apart from Parag, Goalpara-born Akash Sengupta is the other cricketer from Assam to feature in the tournament. He is part of Team D, which will be led by Shreyas lyer with Ishan Kishan, Axar Patel, Arshdeep Singh as other teammates. Pace sensation Mayank Yadav, who is recovering from lower abdominal injury, is yet to regain fitness and will miss the event. Nitish Kumar Reddy's participation is also subject to fitness. India are slated to play two Test matches against Bangladesh - from September 19 at Chennai and from September 27 at Kanpur. "The athletes who will be selected to represent India for the home Test series against Bangladesh will be replaced in the Duleep Trophy," BCCI secretary Jay Shah said in a release. The Duleep Trophy was earlier scheduled to kick-off with two sets of first round matches at Anantapur in Andhra Pradesh from September 5, but now one of those games has been shifted to the M Chinnaswamy Stadium here to reduce the logistical inconveniences. The four squads for the first round of the tournament: Team A: Shubman Gill (C), Mayank Agarwal, Riyan Parag, Dhruv Jurel, KL Rahul, Tilak Varma, Shivam Dube, Tanush Kotian, Kuldeep Yadav, Akash Deep, Prasidh Krishna, Khaleel Ahmed, Avesh Khan, Vidwath Kaverappa, Kumar Kushagra, Shaswat Rawat. Team B: Abhimanyu Easwaran (C), Yashasvi Jaiswal, Sarfaraz Khan, Rishabh Pant, Musheer Khan, Nitish Kumar Reddy*, Washington Sundar, Ravindra Jadeja, Mohd Siraj, Yash Dayal, Mukesh Kumar, Rahul Chahar, R Sai Kishore, Mohit Awasthi, N Jagadeesan (WK). Team C: Ruturaj Gaikwad (C), Sai Sudharsan, Rajat Patidar, Abishek Porel (WK), Suryakumar Yadav, B Indrajith, Hrithik Shokeen, Manav Suthar, Umran Malik, Vyshak Vijaykumar, Anshul Khamboj, Himanshu Chauhan, Mayank Markande, Aryan Juyal (WK), Sandeep Warrier. Team D: Shreyas lyer (C), Atharva Taide, Yash Dubey, Devdutt Padikkal, Ishan Kishan (WK), Ricky Bhui, Saransh Jain, Axar Patel, Arshdeep Singh, Aditya Thakare, Harshit Rana, Tushar Deshpande, Akash Sengupta, KS Bharat (WK), Saurabh Kumar. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-launched-in-india-at-172999-but-you-cant-get-your-hands-on-it-right-now/articleshow/112517193.cms">Google Pixel 9 Pro Fold launched in India at ₹1,72,999, but you can’t get your hands on it right now</a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-9-pixel-9-pro-and-pixel-9-pro-xl-launched-in-india-starting-at-79999/articleshow/112512198.cms">Pixel 9, Pixel 9 Pro and Pixel 9 Pro XL launched in India starting at ₹79,999</a> <a href="https://www.businessinsider.in/stock-market/news/ipo-scam-two-victims-from-hyderabad-lose-over-11crore-in-fake-ipo-scams/articleshow/112488051.cms">IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams</a>

Big stars Kohli, Rohit exempted as Gill, Pant, Rahul, Jadeja set to play Duleep Trophy

New Delhi, Non-Banking Financial Company (NBFC) <keyword id="3504742" type="General" weightage="20" keywordseo="IIFL-finance" source="Orion">IIFL Finance</keyword> has become the second largest gold loan provider surpassing Manappuram Finance. "The gold loan portfolio has crossed Rs 23,690 crore assets under management (AUM), surpassing Manappuram Finance at Rs 20,809 crore worth of gold loan AUM. "This has cemented <keyword id="82050" type="General" weightage="20" keywordseo="IIFL" source="Orion">IIFL</keyword> Finance's position as the second largest gold loan provider in India in terms of AUM," IIFL Finance head of Gold Loan Business Saurabh Kumar, said. The market leader in gold loans is Muthoot Finance with an AUM of Rs 66,089 crore, as of September 2023. Kumar said, "the company has about 18.6 lakh customers and over 70 per cent of our customers are repeat customers helped by customer centric approaches like repayment grace period, no foreclosure charges, transparency in dealings and proactive customer need identification." The company expects a 25-27 per cent increase in gold loan in FY'24, he said. IIFL Finances provides gold loans through 1,486 towns and rural areas across 25 states and 4 Union Territories to salaried, self-employed and Micro, Small and Medium Enterprises (MSME) customer segments. Besides, gold loan, IIFL Finance offers affordable home loan, microfinance loans and business loans and has a consolidated AUM of Rs 73,066 crore.

IIFL Finance emerges as second largest gold loan NBFC

Nearly seven in 10 subscribers to multiple <a href="https://www.businessinsider.in/tech/news/netflix-added-8-3-million-paid-subscribers-in-last-quarter-its-slowest-growth-since-2015/articleshow/89033252.cms" data-type="tilCustomLink">streaming services</a> in India expressed frustration with their viewing experiences, a report said on Thursday. According to a new report from global professional services company Accenture, 46 per cent of those surveyed indicate they spend more than six minutes searching for something to watch. "As the video streaming segment has matured, consumers are increasingly finding the experience to be complicated, expensive and hard to use," Saurabh Kumar Sahu, MD and lead for Communications, Media and Technology practice, Accenture in India, said in a statement. "Evolving consumer preferences and tough economics will create challenges for video streaming platforms. To win in this competitive space, the ecosystem needs a major reset, in addition to providing consumers greater control over their viewing experience," Sahu added. In addition to the challenge of finding something to watch, consumers in India also think more than 60 per cent of the content they are paying for is not relevant to them, the survey said, which included 6,000 consumers globally. Meanwhile, 81 per cent of those surveyed in India said they wish their profile from one service could easily be shared with another service that may offer them better, more personalised content.

46% of Indians frustrated with OTT viewing experiences: Study

<keyword id="2434035" type="PERSON" weightage="20" keywordseo="Rapper-Raftaar">Rapper Raftaar</keyword> has become the first Indian artiste to accept cryptocurrency instead of actual currency as performance fee. "I've always been an ardent admirer of <keyword id="6355684" type="PERSON" weightage="20" keywordseo="Blockchain">blockchain</keyword> technology. I've always wondered why artistes and managers alike haven't explored the potential of this disruptive medium. Nevertheless, I've finally taken the baby steps in this direction and all the credit goes to my manager, Ankit Khanna for making this dream a reality for me," said <keyword id="302421" type="COMPANY" weightage="20" keywordseo="Raftaar">Raftaar</keyword>. The virtual performance for which Raftaar accepted <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-239c6f62-7fff-b170-2e81-bc0957d95a37">cryptocurrency</a> is scheduled for the second week of July. The boutique 60-minute event will be hosted in Canada, Ottawa for a private gathering of 100 people. The rapper's longtime business partner and manager Ankit Khanna has been instrumental in the cryptocurrency transaction. Ankit shared: "In my opinion, music will be one of the first industries to be completely and thoroughly disrupted through the blockchain. The artist can now go directly to the public in every single way without the need of middlemen. Blockchain has the potential to expedite a seamless experience for anyone involved with generating or interacting with music. I'm happy to welcome this new transactional paradigm with my longtime business associate Raftaar who truly is a pioneering voice of this new generation." Meanwhile, cryptocurrency and <a href="https://blog.wazirx.com/how-to-learn-blockchain-programming/">blockchain</a> technology has already won the approval of global artists like 50 Cent, <keyword id="23718" type="PERSON" weightage="20" keywordseo="Mariah-Carey">Mariah Carey</keyword>, G-Eazy, <keyword id="6359180" type="COMPANY" weightage="20" keywordseo="sia">Sia</keyword>, Fall Out Boy, the Backstreet Boys and <keyword id="912952" type="PERSON" weightage="20" keywordseo="Lana-Del-Rey">Lana Del Rey</keyword> among others. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/low-skilled-it-jobs-in-india-are-definitely-at-risk-as-per-different-reports/articleshow/83633565.cms">Whether it's half a million or three million — 'low skilled' IT jobs in India are definitely at risk</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/grofers-cofounder-saurabh-kumar-exits-says-he-wants-to-wander-again/articleshow/83636943.cms">Grofers cofounder Saurabh Kumar exits, says he wants to ‘wander again’</a>

Rapper Raftaar is the first Indian artiste to accept cryptocurrency as performance fees

New Delhi, Experienced speedster <keyword id="11685" type="PERSON" weightage="20" keywordseo="Ishant-Sharma">Ishant Sharma</keyword>, who missed the just concluded Australia tour due to an injury, was on Tuesday included in an 18-member Indian squad named for the first two Test matches against <keyword id="6355981" type="LOCATION" weightage="20" keywordseo="england">England</keyword>, starting on February 5 in Chennai. Both matches will be played in Chennai. Squad: <keyword id="6354486" type="PERSON" weightage="20" keywordseo="virat-kohli">Virat Kohli</keyword> (captain), <keyword id="13937" type="PERSON" weightage="20" keywordseo="Rohit-Sharma">Rohit Sharma</keyword>, Shubman Gill, <keyword id="433888" type="COMPANY" weightage="20" keywordseo="Mayank-Agarwal">Mayank Agarwal</keyword>, Cheteshwar Pujara, Ajinkya Rahane, <keyword id="3142448" type="PERSON" weightage="20" keywordseo="Rishabh-Pant">Rishabh Pant</keyword>, Wriddhiman Saha (wicketkeeper), Hardik Pandya, KL Rahul, <keyword id="1627109" type="PERSON" weightage="20" keywordseo="Jasprit-Bumrah">Jasprit Bumrah</keyword>, Ishant Sharma, Mohammed Siraj, Shardul Thakur, R Ashwin, Kuldeep Yadav, Washington Sundar, Axar Patel, Standbyes: KS Bharat (wicketkeeper), Abhimanya Easwaran, Shahbaz Nadeem, Rahul Chahar Net bowlers: Ankit Rajpoot, Avesh Khan, <keyword id="1465956" type="COMPANY" weightage="20" keywordseo="Sandeep-Warrier">Sandeep Warrier</keyword>, K Gowtham, Saurabh Kumar SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/zoom-dropbox-backer-salesforce-ventures-makes-its-first-investment-in-india-in-hr-tech-startup-darwinbox-which-claims-to-have-grown-by-200-during-lockdown/articleshow/80341562.cms">Zoom, Dropbox backer Salesforce Ventures makes its first investment in India in HR tech startup Darwinbox, which claims to have grown by 200% during lockdown</a> <a href="https://www.businessinsider.in/stock-market/news/home-first-finance-company-hffc-is-set-to-launch-its-1153-crore-ipo-on-january-21/articleshow/80341439.cms?upcache=2">Warburg Pincus-backed Home First Finance Company to launch ₹1,153 crore IPO on January 21</a> <a href="https://www.businessinsider.in/international/news/top-ten-likely-global-risks-in-2021-according-to-the-world-economic-forum/slidelist/80346013.cms">From climate action failure to monopoly in the tech world — the world needs to wake up to these global risks in 2021, says the World Economic Forum</a>

Ishant Sharma selected in 18-member squad for first two Tests vs England

<ul><li>Nearly 7/10 subscribers to multiple <keyword id="778108" type="General" weightage="20" keywordseo="streaming-services" source="Orion">streaming services</keyword> in India expressed frustration with their viewing experiences.</li><li>46% of those surveyed indicate they spend more than six minutes searching for something to watch.</li><li>Consumers in India also think more than 60% of the content they are paying for is not relevant to them.</li></ul>Nearly seven-in-ten subscribers to multiple streaming services in India expressed frustration with their viewing experiences, according to a new report from Accentur, and 46% of those surveyed indicate they spend more than six minutes searching for something to watch. The “Streaming’s Next Act: Aggregators to play a starring role in making consumers happier” report surveyed 6,000 consumers globally to understand their preferences, beliefs, and behaviors on their video content streaming experiences. In addition to the challenge of finding something to watch, consumers in India also think more than 60% of the content they are paying for is not relevant to them. Furthermore, 81% of those surveyed in India say they wish their profile from one service could easily be shared with another service that may offer them better, more personalized content. Saurabh Kumar Sahu, managing director and lead for Communications, <keyword id="3060212" type="General" weightage="20" keywordseo="media-and-technology" source="Orion">Media and Technology</keyword> practice, <keyword id="6370971" type="General" weightage="20" keywordseo="accenture" source="Orion">Accenture</keyword> in India said, “As the video streaming segment has matured, consumers are increasingly finding the experience to be complicated, expensive and hard to use. Evolving consumer preferences and tough economics will create challenges for video streaming platforms. To win in this competitive space, the ecosystem needs a major reset, in addition to providing consumers greater control over their viewing experience.” Accenture’s research also indicates that while consumers care more about the content delivered by streaming services, they find the navigation experience with the growing number of services to be increasingly frustrating. Content aggregators can address this concern by unifying access across streaming services through application software, services and data-sharing agreements. Aggregators can also foster flexibility and personalization for viewers by serving as a single platform with curated content that enables them to select exactly what they want to watch. “Till now, most Indian OTT platforms have tried to differentiate through content and majority of their investments have gone into flagship titles. With changing viewing patterns, this needs to change and factor in scenarios like shared viewing. For the next phase of growth, these platforms need to focus on improving consumer experience and product features,” said Neeraj Sharma, managing director – Communications, Media and Technology, Accenture in India. The report also offers the following considerations for companies in the streaming entertainment ecosystem—from video, music and podcasts to gaming—so they can start on a journey of deeper consumer relationships: <ul><li class="m_7274215056190150355xxxxxmsolistparagraph">Consider your play in the aggregated world. Determine if you want to be an integrator or the integrated, so you can either shape distribution deals to entice subscription video on demand (SVOD) and advertising-based video on demand (AVOD) services to participate or partner with the entities vying to be the preferred integrator.</li></ul><ul><li class="m_7274215056190150355xxxxxmsolistparagraph">Start planning for a distributed data model. Invest in data privacy and make that commitment known to your consumers, so they are confident sharing data that is critical for integration and personalization services.</li></ul><ul><li class="m_7274215056190150355xxxxxmsolistparagraph">Be ready to stretch. Think beyond SVOD and AVOD services to consider music services, podcast and e-book services, video games, home security, food delivery services and more. </li></ul><ul><li class="m_7274215056190150355xxxxxmsolistparagraph">Engage in experimentation. Players with data-driven experimentation at the core of how they operate will be far more ready and nimble to adapt to changing consumer preferences.</li></ul>

69% of Indian consumers are frustrated with navigating content on streaming video services: Accenture report

<keyword id="12744044" type="General" weightage="20" keywordseo="Groceries-delivery" source="Orion">Groceries delivery</keyword> giant <keyword id="2466939" type="General" weightage="100" keywordseo="grofers" source="Orion">Grofers</keyword> — which rebranded itself to <keyword id="12724311" type="General" weightage="80" keywordseo="blinkit" source="Orion">Blinkit</keyword> last week in order to further emphasis on its quick commerce image — has shut down stores and is limiting its operations to only those areas where it can deliver products within 10 minutes. The company is operational in 30 cities, 12 of which do offer 10 minute delivery. A quick look at the Blinkit (Grofers) site shows that their services aren’t available in Agra, Ahmedabad, Panipat, Rohtak, Allahabad, Durgapur (West Bengal), and Vadodara. These are some of the cities where the erstwhile Grofers had <a href="https://www.livemint.com/companies/news/grofers-founder-criticised-for-10-minute-grocery-delivery-his-reply-11630160621963.html">launched deliveries in 2019</a>. “ The remaining 18 cities were the ones where the company still offers its regular one day delivery. “The Blinkit service will now be available in only the areas where we are able to arrive at users location within 10 minutes (or less),” founder and chief executive (CEO) <keyword id="2744778" type="General" weightage="20" keywordseo="Albinder-Dhindsa" source="Orion">Albinder Dhindsa</keyword> announced on Twitter. Similarly, Business Insider also checked for some key residential locations within the big cities like Mumbai, Kolkata, Delhi, Chennai, Hyderabad and Bengaluru. These are some of the areas where either Blinkit doesn’t seem to be delivering as per the website: Tollygunge, Kasba, Jadavpur, Bhowanipore, and New Alipore in Kolkata; Kalina, Kandivali, Kharghar, Sion, and Andheri East in Mumbai; Shanti Niketan, Hauz Khas Enclave, Green Park, and Punjabi Bagh in New Delhi; Cox Town, Lalbagh, Rajaji Nagar, Shivaji Nagar, and RT Nagar in Bengaluru; Ambattur, Velachery, Pallavaram, Perungudi, KK Nagar, Mylapore, and Thiruvanmiyur in Chennai. In Hyderabad, the services are not available. There may be variations based on specific location or housing society that you may live in. You can add your specific location and verify if deliveries are available. <div type="image" title="Blinkit in Hyderabad" height="900" width="1200" msid="88389012" hostid="261" caption="&amp;lt;p&amp;gt;Blinkit in Hyderabad&amp;lt;/p&amp;gt;"></div> This move will impact 75,000 of the 200,000 daily customers of the company, Blinkit said., It is currently executing its 10-minute delivery in 12 cities through over 250 stores and plans to take this number to 530 stores by next month. It plans to serve through 1,000 stores by the middle of next year, the company’s CEO had told Business Insider last week. However, industry experts believe that the number is simply too low. Here’s Business Insider’s analysis of Grofers’ ambitious plan for quick commerce based on <a href="https://www.businessinsider.in/business/startups/news/grofers-founder-explains-why-he-rushed-to-rebrand-the-startup-and-his-plans-seem-ambitious/articleshow/88320706.cms">an interview with Dhindsa</a>. The chief executive officer of a firm in the quick commerce space, on the condition of anonymity, told Business Insider, “We did some maths on our end to do 10-minute delivery in a city like Bangalore [Bengaluru], you will need close to 80-90 stores. If you have to deliver in Delhi [under 10 minutes], you would need around 300-400 stores. But maybe they [Grofers] are not operating everywhere, they are only offering 10-minute delivery to places with dense localities.” However, Grofers is not cutting back on the inventory. It plans to offer 4,000-7,000 stock keeping unit (SKU) ⁠— simply put product range ⁠— whereas other players in the quick deliveries space only offer 1,000-1,500 SKU because it is simple to manage when making deliveries in 10 minutes. Grofers, now Blinkit, was founded in 2013 by Albinder Dhindsa and Saurabh Kumar. The company has raised close to $800 million to date from marquee investors such as Zomato, <keyword id="526777" type="General" weightage="20" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, Softbank and others. It crossed $1 billion in valuation earlier this year. The company has spent over eight years building and scaling its delivery operations.. The company had <a href="https://www.businessinsider.in/business/startups/news/after-giving-up-on-90-minute-delivery-five-years-ago-due-to-lack-of-profitability-grofers-is-now-chasing-10-minute-delivery/articleshow/88253221.cms">decided to move out of its 90-minute delivery </a>option five years ago, but it now believes that “instant commerce is indistinguishable from magic”. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/used-car-marketplace-cars24-has-raised-as-much-as-dream11-this-year-to-set-up-operation-overseas/articleshow/88386057.cms">Used car marketplace Cars24 has raised as much as Dream11 this year to set up operation overseas</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/how-do-rising-covid-19-cases-lead-to-a-fall-in-markets/articleshow/88385905.cms">Why is the stock market falling so sharply today?</a>

Grofers has now shutdown 18 location after rebranding to Blinkit ⁠— here’s how you can check if deliveries are available in your locality

Yangon, May 5 () India on Tuesday provided 200,000 hydroxychloroquine tablets and other medical equipment to Myanmar to aid its fight against the deadly coronavirus.Indian Ambassador to Myanmar Saurabh Kumar handed over the medical supplies to the officials of the Ministry of Health and Sports at Yangon Airport, the Indian embassy said in a press statement.Besides the 200,000 antimalarial hydroxychloroquine tablets, the medical supplies include surgical gloves, body bags, minor surgical sets and thermal scanners."The government of India stands in solidarity with the people and the government of Myanmar in the wake of the outbreak of COVID-19 pandemic," the statement said.The medical supplies are reflective of the united effort needed to combat this disease, it said."The contribution is indicative of the traditionally warm and friendly ties between India and Myanmar, and would augment Myanmar's determined efforts to fight the pandemic," it said. According to the Johns Hopkins University data, Myanmar has so far reported 161 COVID-19 cases and 6 deaths. RS RS

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