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Smartphones have changed how we connect, work, and entertain ourselves, but they might also be silently reshaping our closest relationships. A recent study titled ‘Impact of Smartphones on Parent-Child Relationships’ sheds light on a growing concern: the excessive use of smartphones is creating barriers between parents and children in India. The sixth edition of the vivo Switch Off survey, conducted in collaboration with CyberMedia Research (CMR), highlights how technology, while indispensable, has become a source of conflict in family dynamics. The findings are a stark reminder of the need for balance in a world increasingly dominated by screens. <h2>Children are more aware of smartphone impact </h2> One surprising revelation from the study is that children appear more aware of the negative impact of <keyword id="24400365" type="General" weightage="20" keywordseo="excessive-smartphone-use" source="keywords">excessive smartphone use</keyword> than their parents. About 69% of children acknowledged that smartphone overuse has led to conflicts with their parents, and an overwhelming 94% suggested that their ideal phone for parents should focus on basic features like calling, messaging, and a camera—stripping away apps for entertainment, gaming, or social media. Children also demonstrated a desire for collective change: 66% said they would give up social media if their peers did the same, while over 90% wished that some popular social media platforms had never been created. <h2>Parents spend more time on their phones than children </h2> While 75% of parents worry about their children’s ability to build meaningful relationships, the irony is evident. Many parents overlook how their own smartphone habits are affecting their bond with their kids. On average, parents spend more than five hours daily on their phones, compared to four hours for children. A striking 73% of parents admit that their device use has caused friction at home. Even during significant moments like family vacations or celebrations, both groups confess to using their phones, underscoring how deeply ingrained this habit has become. <h2>Yearning for stronger bonds </h2> Despite the challenges, there’s a shared longing for deeper connections. About 76% of children and 84% of parents expressed a wish to strengthen their relationships through meaningful family time, free from digital distractions. Both groups are exploring solutions such as creating “phone-free” zones at home and setting mutual screen-time limits. One-third of children believe the world would be better off without certain apps, reflecting their frustration with the digital environment they’ve grown up in. Yet, they also see hope in collective action—if their families and friends embrace healthier smartphone habits, they’re ready to follow suit. <h2>Expert opinion </h2> Highlighting the issue, Riddhi Doshi Patel, a child psychologist and parenting counsellor, noted, “Excessive smartphone use is silently eroding emotional bonds between parents and children. Campaigns promoting mindful tech use aren’t just helpful; they’re transformative. They can foster genuine connection and create homes where relationships flourish beyond screens.” To address these challenges, vivo has collaborated with experts like Catherine Price, author of How to Break Up with Your Phone, and Riddhi Doshi Patel to offer practical advice. Their guidance includes actionable steps like setting screen-time boundaries, creating phone-free zones, and prioritising face-to-face interactions. What are your thoughts on this growing issue? Can families bridge the digital divide, or is it a price we’ll continue to pay for staying connected?

Parents spend more time on their smartphones than children and this might be straining relationships, new study suggests

India's government <keyword id="21309215" type="General" weightage="20" keywordseo="healthcare-spending" source="keywords">healthcare spending</keyword> appears to be on the rise, but a closer look reveals a concerning trend. While the headline figures might suggest an increase, the reality is a steady decline in health expenditure as a proportion of both the <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">budget</keyword> and GDP over the past five years (2018-19 to 2023-24). This decline is even starker when adjusted for inflation. In real terms, spending has barely kept pace since 2019-20. As a percentage of the total budget, health spending has shrunk from 2.4% in 2018-19 to just 1.9% in 2023-24. Similarly, the share of GDP allocated to health has fallen from 0.30% to 0.28%, as per a report from the Times of India. <h2>Growing expectations ahead of <keyword id="15478236" type="General" weightage="20" keywordseo="budget-2024" source="Orion">Budget 2024</keyword></h2>As the Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> prepares to present the full budget for the current fiscal on July 23, the expectations from the health sector has only been growing. “The Union Budget 2024-25 is a pivotal moment for India's healthcare sector. Building on the ₹64,180 crores allocated in 2023-24 under the Pradhan Mantri Atmanirbhar Swasth Bharat Yojana, we need enhanced tax incentives and financial support for healthcare startups to catalyze innovation. Significant investments in <keyword id="21226679" type="General" weightage="20" keywordseo="digital-health-infrastructure" source="keywords">digital health infrastructure</keyword>, particularly AI, will improve patient outcomes and operational efficiency,” says Dr Sravani Reddy G, Founder &amp; CEO, Soprav Healthcare Consulting. “Strengthening public-private partnerships will improve healthcare accessibility and quality, leveraging private sector efficiency. Additionally, focused efforts on affordability and access, such as reducing out-of-pocket expenses and improving insurance coverage, are vital for a more equitable healthcare system.” “The healthcare sector in India is on the brink of excellence. There is an increased focus on treating unique patient cases, robotic surgeries, and increasing prominence of AI for accurate diagnosis. To reach the next phase, emphasis must be laid on innovation, research &amp; development, and infrastructure development. These are the foundations for India’s health sector to achieve an international standard of treatment for all,” hopes Joseph Pasangha, Group COO, SPARSH Hospital, Bengaluru. <div type="Article" hostid="261" msid="111730426" title="Pan-India rollout of U-WIN to track routine immunisations likely by Aug end" mstype="2" mssubtype="0"></div> <h2>Health tax not helping enough </h2>This situation is further complicated by the introduction of the <keyword id="22446013" type="General" weightage="20" keywordseo="health-cess" source="keywords">health cess</keyword> in 2018. This tax levy was intended to boost government spending on healthcare, particularly for the underprivileged. However, the collected funds seem to be merely filling the gap created by cuts to regular budgetary allocations for health. In 2022-23, over Rs 18,300 crore of the central government's health spending came from the health cess. Excluding this amount, the actual budgetary allocation for health stands at a concerning Rs 59,840 crore. This is lower than the pre-pandemic level of Rs 66,042 crore allocated in 2019-20, even without adjusting for inflation. <h2>Where's the money going?</h2>The intended purpose of the health cess seems to be falling short. In 2018, health spending accounted for 2.4% of the government's total expenditure. If this ratio had remained constant in 2023-24, the health budget should have been over Rs 1.07 lakh crore. Instead, the revised expenditure, including the health cess, stands at just Rs 83,400 crore. Even the additional allocations for the COVID-19 pandemic (Rs 10,655 crore and Rs 15,955 crore in 2020-21 and 2021-22 respectively) cannot mask the overall decline. When combined with the regular health budget (excluding health cess), the total spending in these years still falls short of what it would have been if the 2.4% share of 2018-19 had been maintained. <h2>More for alternative medicine</h2>While the share allocated to Ayush (Ayurveda, Yoga &amp; Naturopathy, Unani, Siddha and Homeopathy) has seen a significant increase, spending on crucial areas like health research has seen only marginal growth. Additionally, a major portion of research funding goes to the Indian Council of Medical Research, with only a temporary increase during the peak of the pandemic response. The most concerning decrease is in the allocation for health and family welfare, encompassing national programs, the National Health Mission, and health system strengthening. This critical area has seen a substantial decline in its share of both GDP and total budget expenditure, falling from a peak of over 2% in 2017-18 to a mere 1.7% in 2023-24. Excluding the health cess, this figure drops even further to 1.5%. <h2>What this means</h2>This decline in government health spending raises serious concerns about India's commitment to public healthcare, particularly for its most vulnerable populations. Increased investment in health is crucial for a growing nation like India, and a reversal of this downward trend is essential to ensure accessible and quality healthcare for all. The 2024 Interim Health Budget saw a boost in total healthcare expenditure from Rs. 79,221 crore to Rs. 90,171 crore. Experts have opined that The healthcare budget should encompass at least 2.5% of the total budget. But it remains to be seen how the exact picture will turn out to be on July 23. “The 2024-25 budget presents an opportunity to build on past successes while addressing shortcomings, ensuring that India's healthcare system remains resilient, innovative, and patient-centric. This budget can pave the way for a healthier, more equitable future for all," concludes Dr Reddy. (With inputs from TOI) <div type="Article" hostid="261" msid="111689743" title="Union Budget 2024: A handy FAQ guide to decode the upcoming budget" mstype="2" mssubtype="0"></div>

Despite pandemic and growing health scares, India’s budget share for healthcare continues to decline

With the rise of <keyword id="3680372" type="General" weightage="20" keywordseo="food-delivery-apps" source="Orion">food delivery apps</keyword> like Swiggy and Zomato, India's urban population has embraced the convenience of ordering meals with just a few taps and getting them home-delivered. This technological shift has redefined the relationship between Indians and their restaurant dining habits. But has it also influenced their <keyword id="19956891" type="General" weightage="20" keywordseo="food-choices" source="keywords">food choices</keyword> and <keyword id="21015159" type="General" weightage="20" keywordseo="spending-patterns" source="keywords">spending patterns</keyword>? A new study from the University of South Florida hints at the possibility, highlighting how <keyword id="22470551" type="General" weightage="20" keywordseo="digital-ordering" source="keywords">digital ordering</keyword> platforms significantly shape <keyword id="20347870" type="General" weightage="20" keywordseo="consumer-behaviour" source="keywords">consumer behaviour</keyword>, often leading to more indulgent food choices and higher spending. The study—co-authored by Dipayan Biswas, the USF Frank Harvey endowed professor of marketing in the Muma College of Business—examines the cognitive effects of ordering from digital screens compared to traditional methods like printed menus. The findings were published in the Journal of the Academy of Marketing Science. “While digital ordering can enhance convenience and efficiency, many consumers will opt for unhealthier food choices and spend more. Our research highlights the importance of understanding the influence of <keyword id="408193" type="General" weightage="20" keywordseo="digital-devices" source="Orion">digital devices</keyword> on our decision-making,” Biswas said. <cmsannotation type="cmsannotation" annotationid="Digital menus and the Google Effect" comment="subhead" text="Digital menus and the Google Effect">Digital menus and the <keyword id="22532162" type="General" weightage="20" keywordseo="Google-Effect" source="keywords">Google Effect</keyword></cmsannotation> The research included six studies conducted in restaurants and two in a USF lab, where Biswas and his graduate students analysed the impact of digital versus physical menus. Notably, the digital menus included not just mobile apps, but also touchscreen kiosks and tabletop tablets available in some restaurants for self-service. They reviewed over 23,000 orders from various establishments, ranging from independent restaurants to a major global dining chain with 1,000 locations across 23 countries. Food items were categorised as unhealthy, neutral or healthy. Unhealthy items were defined by portion size and type, such as fried foods and desserts, while vegetables and fish were considered healthy. Neutral items included most soups, large salads and steaks under six ounces. ALSO SEE: <a href="https://www.businessinsider.in/science/health/food/webstories/from-bengalurus-meghana-to-delhis-gulati-here-are-indias-best-eateries-as-per-zomato/slidelist/111979326.cms" data-type="tilCustomLink" target="_blank">From Bengaluru’s Meghana to Delhi’s Gulati, here are India's best eateries, as per Zomato</a> The study found that 61% of digital orders, including those for delivery, were unhealthy—over 3% higher than orders placed through traditional methods. It also revealed that digital menus have a stronger impact on dinner choices, as consumers are more likely to be tired and reliant on technology later in the day. Consequently, digital ordering has less influence during breakfast and lunch. “Digital ordering modes foster a more automatic decision-making process with lower cognitive involvement. This is because digital tools encourage people to rely less on their cognitive resources and more on automated processes,” Biswas explained. This phenomenon, known as the ‘Google Effect’, implies that the availability of digital tools alters how people store and retrieve information, and even put in less cognitive effort overall. This is evident in tasks such as storing contact numbers instead of remembering them or navigating using GPS. It is this reduced cognitive engagement and more automatic decision-making in digital contexts that can result in more indulgent outcomes, manifesting as unhealthy food orders and higher overall spending. <div type="Article" hostid="261" msid="111782872" title="Will alcohol home delivery be a reality soon? Swiggy, Zomato, and Blinkit smell an opportunity" mstype="2" mssubtype="0"></div>Next, Biswas plans to continue investigating how digital versus non-digital ordering affects consumption volume and perceived taste of the ordered items. He also aims to explore how the presence of a human, such as during in-person or phone orders, might influence consumer decisions, as opposed to the perceived anonymity of online environments.

Tech temptations: People go for unhealthier food, spend higher when ordering on digital devices, study suggests

The number of credit cards in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is projected to reach 200 million by FY28-29, growing at a compound annual growth rate (<keyword id="20256055" type="General" weightage="20" keywordseo="CAGR" source="keywords">CAGR</keyword>) of 15%, according to a report by <keyword id="20055667" type="General" weightage="20" keywordseo="PwC" source="keywords" meta.keywordsubtype="org" meta.entityname="PwC" meta.hostid="153" meta.entityid="PwC">PwC</keyword>. The report highlights the significant expansion of the credit card industry, which has doubled the number of cards issued over the past five years. This strong momentum is expected to continue, with the market poised to replicate this growth in the coming years. The report states, "The <keyword id="23032285" type="General" weightage="100" keywordseo="credit-card-market" source="keywords">credit card market</keyword> in India is expected to double its cards in force by FY28-29, reaching 200 million cards. The industry, which has seen a 100% increase in issued cards over the past five years, is anticipated to replicate this growth within the next five financial years." In addition to the increase in the number of credit cards, the report notes a substantial rise in transactional activity within the industry. Transaction volumes have grown by 22%, while the value of transactions has surged by 28%. The report attributes this growth to the introduction of new products, innovative offerings, and the expansion of customer segments, which have collectively driven the adoption and usage of credit cards. However, the report also highlights a decline in debit card usage. Debit card transactions have decreased both in volume and value, reflecting a shift in consumer preferences. In FY23-24, the volume of debit card transactions dropped by 33% compared to the previous year, and spending on debit cards decreased by 18% year-on-year. "The growth of debit cards in the country has been muted in terms of the number of cards issued, and the volume and value of debit card transactions took a significant hit during FY23-24," the report noted. This decline is largely attributed to the rising popularity of the Unified Payments Interface (UPI), which has become the preferred payment method for small to medium merchants due to its ease of use and zero Merchant Discount Rate (MDR). The report states, "This decline can be attributed to the inclination towards UPI, driven by its ease of use and the push from small to medium merchants who favour UPI due to 0% MDR." Furthermore, the report points out that debit cards have struggled to compete with credit cards in terms of rewards, which has further contributed to their decline. The lack of attractive reward programs and lower awareness of existing benefits have made debit cards less appealing to consumers. Meanwhile, <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> in India continue to flourish, with transactional volume growing by 42% year-on-year in FY23-24. This trend is expected to triple by FY28-29. The report indicates that the ongoing growth in digital payments is driven by various factors, including innovations by payment ecosystem participants, new business models, technological advancements, and increasing customer awareness.

India’s credit card market set to double by 2029, reaching 200 million cards

With <keyword id="19899402" type="General" weightage="20" keywordseo="digital" source="keywords">digital</keyword> adoption fast gaining currency, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is likely to see <keyword id="19992513" type="General" weightage="20" keywordseo="retail" source="keywords">retail</keyword> <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> double to USD 7 trillion by 2030 from current levels, a study by Kearney and <keyword id="19942875" type="General" weightage="20" keywordseo="Amazon-Pay" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon Pay" meta.hostid="153" meta.entityid="Amazon Pay">Amazon Pay</keyword> said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in <keyword id="21056201" type="General" weightage="20" keywordseo="online-purchases" source="keywords">online purchases</keyword> has potentially led to a permanent shift in consumer behaviours, fuelling offline adoption as well. While 90 per cent of the respondents of the survey preferred digital payments when making online purchases, affluent consumers lead the way with the highest Degree of Digital Payment Usage (DDPU), tending to use various modes of digital payment for 80 per cent of their transactions. "<keyword id="19955338" type="General" weightage="20" keywordseo="millennials" source="keywords">Millennials</keyword> and Gen X are leading in the adoption of all types of digital payment instruments," it said. "Men and women both use digital payments in about 72 per cent of their transactions, indicating gender parity." The research was based on an online survey of over 6,000 consumers along with more than 1,000 merchants through offline and online methods across 120 cities with representation from various regions, income groups, city categories, age brackets and genders. India has seen a surge in <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword>, with the market valued at USD 75 billion to USD 80 billion in 2022 and expected to grow at a 21 per cent CAGR until 2030. "In line with India's digital journey, retail digital payments have grown dramatically over the past five years - from USD 300 billion in FY18 to USD 3.6 trillion in FY24. By FY30, they are likely to double to USD 7 trillion," the report said. The Unified Payments Interface (<keyword id="19900911" type="General" weightage="100" keywordseo="UPI" source="keywords">UPI</keyword>) has been a key driver of this growth, demonstrating a CAGR of 138 per cent in its volumes during FY18-24. Other instruments such as cards and digital wallets are also gaining in popularity, contributing 10 per cent of digital transaction value today. "With such dynamic developments, it is no wonder that India is a global frontrunner in the digital payment landscape, accounting for a stellar 46 per cent of the global digital transaction volumes in 2022," it said. Digital payments have penetrated small towns, with respondents in these areas highlighting that 65 per cent of their transactions are digital, while respondents in larger cities cited this ratio to be 75 per cent. "There is a strong correlation between a city's average DDPU and its retail potential, as measured by the Kearney India Retail Index, with the top six metros displaying both high DDPU and high retail potential," the report said. DDPU surpasses retail potential in some cities such as Lucknow, Patna, Bhopal, Jaipur, Bhubaneswar, Indore, Ahmedabad and Pune, which have a high DDPU nearly matching that of larger metropolitan cities despite having a lower retail potential than the top six metros. The report said co-branded credit cards are gaining momentum. "Emerging methods such as buy now, pay later (BNPL), wearable payments and voice assistant-based payments are also starting to make inroads." Digital modes of payment constitute around 69 per cent of the total transaction volumes for the Indian merchants that were surveyed. Even street vendors such as paan shops, fruit and flower sellers, food stalls, and kirana stores are joining the digital payment brigade. "Challenges for merchant adoption mirror consumer concerns, emphasizing issues of financial fraud, limited connectivity and trust," it said. The report said the next wave of growth in digital payments will be fueled by increasing penetration in segments with lower DDPU, such as consumers in lower-income groups and smaller towns, along with enhancing the value of spending via digital modes of payment in the higher DDPU segments by addressing their concerns. "All key stakeholders across the digital payments' ecosystem, including payment providers, the government, and value-added services players, will need to play a part in expanding digital payment adoption," it said. The focus areas should be empowering communities with financial education by launching target programmes to boost awareness of digital payments and new methods such as UPI Lite and UPI Lite X, especially for aspiring consumer segments, women in small towns, and street commerce merchants, to encourage higher adoption. Also, there is a need to create user-friendly consumer journeys by streamlining documentation and know-your-customer (<keyword id="19910870" type="General" weightage="20" keywordseo="kyc" source="keywords">KYC</keyword>) processes, optimising user interfaces, and establishing responsive customer complaint resolution mechanisms, it said adding also there is a need to enhance digital infrastructure by addressing systems and network issues and exploring innovations such as UPI Lite X for areas with limited internet. Also, the risk of fraud has to be minimised and access to credit-based payment methods expanded by using alternate data for underwriting risk, developing innovative credit products and promoting credit education for financial health. "These areas can help India overcome challenges in the digital payment ecosystem by fostering a more inclusive, secure, and user-friendly environment, thereby enhancing the adoption of digital payments among consumers and merchants in India," it added.

India to see retail digital payments to double to USD 7 tn by 2030: Report

<keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword>, Overall ad spending in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> is estimated to reach $16-17 billion in FY24, growing at 6 per cent in the fiscal year, a report showed on Thursday. <keyword id="19899402" type="General" weightage="20" keywordseo="digital" source="keywords">Digital</keyword> advertising which accounts for 55 per cent of total spending is set to grow at 6-7 per cent in FY24, according to the report by market research firm Redseer <keyword id="20257965" type="General" weightage="20" keywordseo="strategy-consultants" source="keywords">Strategy Consultants</keyword>. With consumption set to rebound in the next 4 or 5 years, advertising spend is projected to grow at 9-10 per cent Compound Annual Growth Rate (CAGR) over the course of next 4 years, with digital advertising growing at 11-12 per cent in the same period, the report mentioned. "As digital natives shape consumption patterns across the nation, brands have a never-before opportunity to address a much-larger and diverse consumer pool through advertising," said <keyword id="19923640" type="General" weightage="20" keywordseo="mukesh-kumar" source="keywords">Mukesh Kumar</keyword>, Associate Partner at Redseer. "It will be fascinating to witness cutting-edge creative strategies take shape across platforms especially with the possibilities that programmatic advertising and GenAI can offer for the sector," Kumar added. The growth in advertising spend in FY24 is impacted by the slowdown in consumption over the past 5 or 6 quarters and a dip in private equity/venture capitalist funding. According to the report, most consumer sectors have optimised their ad spending and the e-commerce sector is the only sector to see ad spending increase by 15 per cent in FY24. Despite slowdown in ad spending, advertisers increased their ad spending on platforms like retail media (ecommerce, quick-commerce etc.), and content platforms (OTT audio) owing to high conversion potential and wider reach among Tier-2 audiences, respectively.

Ad spending in India to reach $17 bn in FY24, consumption to rebound: Redseer

Spending on Artificial Intelligence (AI) in the country may triple to USD 5 billion by 2027, an <keyword id="21652031" type="General" weightage="20" keywordseo="Intel-IDC-report" source="keywords">Intel-IDC report</keyword> released on Tuesday said. According to the report, entities in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> spent USD 1,703.8 million on AI in 2023. "<keyword id="20959016" type="General" weightage="20" keywordseo="AI-spending" source="keywords">AI spending</keyword> in India is expected to increase to USD 5 billion with CAGR (compound annual growth rate) of 31.5 per cent between 2023 to 2027. By 2027 AI will be everywhere," Sharath Srinivasamurthy, Associate Vice President, <keyword id="19950614" type="General" weightage="20" keywordseo="IDC" source="keywords" meta.keywordsubtype="org" meta.entityname="IDC" meta.hostid="261" meta.entityid="IDC">IDC</keyword> said. He said that in 2023, major spending of USD 209 million was driven by AI infrastructure provisioning and related software. It was followed by augmented customer service agents at USD 168.8 million, digital assistance USD 113.1 million, augmented threat intelligence USD 100.1 million and program advisors recommendation systems USD 97.1 million. "The infrastructure provisioning will continue to be the biggest contributor in overall spent," Srinivasamurthy said. Intel India Region Vice President and Managing Director, Santhosh Viswanathan said India is ready for AI as around 20 per cent of the world's data is produced in the country and it is the third biggest global market. Viswanathan said India leads globally in terms of technical skill availability. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/google-i/o-event-today-how-to-watch-and-what-to-expect/articleshow/110105611.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/google-i/o-event-today-how-to-watch-and-what-to-expect/articleshow/110105611.cms" target="_blank">Google I/O event today – how to watch and what to expect</a><a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-4-lite-to-launch-soon-in-india-expected-price-specs-and-everything-we-know-so-far/articleshow/110076267.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-4-lite-to-launch-soon-in-india-expected-price-specs-and-everything-we-know-so-far/articleshow/110076267.cms" target="_blank">OnePlus Nord CE 4 Lite to launch soon in India – expected price, specs and everything we know so far</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank">Indian smartphone market up 8%, 5G smartphones account for over 70% of shipments</a>

AI spending in India may triple to USD 5 bn by 2027: Report

<ul><li><keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword> has announced the Diwali Dhammaka offer ahead of the festive season.</li><li>The <keyword id="23214173" type="General" weightage="100" keywordseo="Diwali-Dhamaka" source="keywords">Diwali Dhamaka</keyword> offer provides a year of <keyword id="23217340" type="General" weightage="20" keywordseo="free-JioAirFiber" source="keywords">free JioAirFiber</keyword> to eligible customers.</li><li>Here’s everything you need to know about the Diwali Dhamaka offer from Reliance Jio.</li></ul>Mukesh Ambani-led Reliance Jio has announced its 'Diwali Double Dhamaka' offer, offering customers a year of free <a href="https://www.businessinsider.in/business/telecom/news/jioairfiber-launched-in-metros-plans-and-benefits-versus-the-airtel-xstream-airfiber/articleshow/103804858.cms">JioAirFiber</a> service. The festive promotion from the telco is available at all <keyword id="20206613" type="General" weightage="20" keywordseo="Reliance-Digital" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Digital" meta.hostid="261" meta.entityid="Reliance Digital">Reliance Digital</keyword> stores nationwide and is set to run from September 18 to November 3, 2024. <h2>How to avail the Diwali Dhamaka offer</h2>Customers who spend ₹20,000 or more at any Reliance Digital or MyJio store will qualify for one year of complimentary <keyword id="20579875" type="General" weightage="20" keywordseo="JioAirFiber" source="keywords">JioAirFiber</keyword>. The offer is applicable to both new and existing <keyword id="20282548" type="General" weightage="20" keywordseo="JioFiber" source="keywords">JioFiber</keyword> and JioAirFiber customers. <div type="Article" hostid="261" msid="103804858" title="JioAirFiber launched in metros – plans and benefits versus the Airtel Xstream AirFiber" mstype="2" mssubtype="0"></div> New customers must either spend ₹20,000 or more at any Reliance Digital or MyJio store or subscribe to a 3-month Diwali plan for ₹2,222 when setting up their JioAirFiber connection. Current JioFiber and JioAirFiber users can participate by subscribing to a one-time advance recharge of ₹2,222 for the 3-month Diwali plan. <h2>Diwali Dhamaka benefits</h2>You will receive 12 coupons, each matching the value of your active JioAirFiber plan, redeemable monthly from November 2024 to October 2025. Each coupon can be redeemed within 30 days of issuance at any Reliance Digital, My Jio store, JioPoint, or JioMart Digital exclusive store on your next purchase of electronics worth over ₹15,000. <h2>JioAirFiber features</h2>JioAirFiber, is the latest offering from Reliance Jio in the country. The company has introduced several plans for the service. JioAirFiber uses 5G technology to offer broadband services. This includes the installation of an outdoor unit on your rooftop and a wireless router. JioAirFiber has been priced starting at ₹599 and goes up to ₹3,999 per month. In addition to the internet, the plans come with benefits such as access to over 550 digital channels and 14 OTT apps. The company’s premium plans also come with Netflix, Amazon Prime and JioCinema Prime subscriptions. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-great-indian-festival-sale-to-begin-on-september-27/articleshow/113445238.cms">Amazon Great Indian Festival sale to begin on September 27</a> <a href="https://www.businessinsider.in/business/auto/news/triumph-speed-t4-launched-in-india-with-a-price-tag-of-2-17-lakh/slidelist/113429766.cms">Triumph Speed T4 launched in India with a price tag of ₹2.17 lakh</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-and-samsung-accused-of-colluding-with-amazon-and-flipkart/articleshow/113381204.cms">Xiaomi and Samsung accused of colluding with Amazon and Flipkart</a>

Reliance Jio announces Diwali Dhamaka offer – Get JioAirFiber free for one year

New Delhi [India], June 5 (ANI): The Bharatiya Janata Party (<keyword id="19894848" type="General" weightage="20" keywordseo="bjp" source="keywords">BJP</keyword>)-led National Democratic Alliance (<keyword id="19938590" type="General" weightage="20" keywordseo="NDA" source="keywords">NDA</keyword>) secured a majority in the general elections, securing a third term for Prime Minister Narendra Modi. This victory indicates continuity in policy, particularly in <keyword id="21785272" type="General" weightage="20" keywordseo="infrastructure-spending" source="keywords">infrastructure spending</keyword> and boosting domestic manufacturing, which are expected to support robust <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword>. However, the NDA's slim margin of victory and the BJP's loss of an outright majority in parliament may slow down more extensive economic and fiscal reforms, potentially impeding <keyword id="20101140" type="General" weightage="20" keywordseo="fiscal-consolidation" source="keywords">fiscal consolidation</keyword> efforts. In fiscal 2023-24, India's real GDP accelerated to 8.2 per cent from 7.0 per cent the previous year, driven by significant gains in gross fixed capital formation as the government's infrastructure programs gained momentum, even as private consumption remained subdued. <keyword id="20227907" type="General" weightage="20" keywordseo="Moodys" source="keywords" meta.keywordsubtype="org" meta.entityname="Moody's" meta.hostid="261" meta.entityid="Moody's">Moody's</keyword> projects India's economic strength to continue, with an anticipated real <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> of around 7 per cent over the three-year period from fiscal 2023-24 to 2025-26. This growth is expected to benefit from ongoing infrastructure development and digitalization efforts. Despite this outlook, structural weaknesses pose risks to long-term growth potential. High youth unemployment and low productivity growth in the agriculture sector constrain economic expansion. The agricultural sector's modernization has been stalled by political challenges, as evidenced by the repeal of key reforms in 2021 following widespread farmer protests. Additionally, gains in manufacturing have been uneven, limiting labour force diversification away from agriculture, which still accounts for 40 per cent of total employment. Foreign direct investment (FDI) inflows have declined over the past three years, despite a favourable geopolitical climate amid US-China tensions. This trend suggests persistent constraints within India's investment climate. To address these challenges, further structural reforms and enhanced implementation of existing initiatives, such as the production-linked incentive schemes to promote manufacturing, calibrated liberalisation of cross-border trade, and reconsideration of labour reforms, are necessary. The government's focus on fiscal consolidation is expected to continue, but significant improvements in debt ratios and interest servicing have yet to be realised. Since the trough in fiscal 2020-21, the central government's deficit has likely narrowed for three consecutive years. The interim budget for fiscal 2024-25 projects a deficit of around 5 per cent of GDP, aiming for a 4.5 per cent deficit by fiscal 2025-26. However, India's fiscal consolidation post-pandemic has not outpaced other emerging markets in Asia-Pacific, and its fiscal and debt metrics remain weaker than those of Indonesia, the Philippines, Thailand, and other Baa-rated peers globally. India's general government debt is projected to stabilise above 80 per cent of GDP over the next three years, compared to 70.5 per cent in fiscal 2018-19. General government interest payments are forecast to fall to around 24 per cent of general government revenue over the next two years, down from over 28 per cent in fiscal 2020-21, but still higher than the pre-pandemic ratio of less than 23 per cent. While increased budgetary allocations for infrastructure indicate an improvement in spending quality, debt servicing remains a significant portion of expenditure, reflecting ongoing constraints on fiscal flexibility. This situation underscores the need for the incoming government to balance fiscal consolidation with growth-supportive measures. The upcoming final budget for the fiscal year ending March 2025 will provide further insights into India's fiscal policy direction through 2029. As the Modi administration embarks on its third term, the focus will likely remain on sustaining economic growth while addressing the persistent <keyword id="21500054" type="General" weightage="20" keywordseo="fiscal-challenges" source="keywords">fiscal challenges</keyword> that hinder India's long-term economic potential.

Modi 3.0 will offer policy continuity, but BJP's loss of outright majority may slow down fiscal reforms: Moody's

<ul><li><keyword id="6356475" type="General" weightage="20" keywordseo="debit-card" source="Orion">Debit card</keyword> transactions in H1 2023 (January to June) fell to 1.379 billion, marking a sharp 28% decrease from H1 2022. </li><li><keyword id="6368202" type="General" weightage="20" keywordseo="credit-card" source="Orion">Credit card</keyword> transactions at PoS terminals recorded a 30.5% growth white debit card transactions fell 11.9%. </li><li>The volume of <keyword id="6358921" type="General" weightage="20" keywordseo="upi" source="Orion">UPI</keyword> transactions doubled from 4.6 billion transactions for this period in 2022. </li></ul>A look at India’s spending pattern in the first half of 2023 (January to June), reveals an interesting trend. Debit card transactions in this period fell sharply to 1.379 billion, marking a 28% decrease from the same period in 2022. On the other hand, as revealed by a report compiled by Worldline, a payment and transaction services company, credit card transactions surged to 1.550 billion, reflecting a significant increase of 19.6% compared to H1 2022. The India <keyword id="6358577" type="General" weightage="20" keywordseo="digital-payments" source="Orion">Digital Payments</keyword> Report H1 2023 also says that this trend is observed in the transaction values too. The debit card transactions appear to have been impacted by the rise in Unified <keyword id="6359540" type="General" weightage="20" keywordseo="payments" source="Orion">Payments</keyword> Interface or UPI transactions. However,credit card transactions, often used for high-value payments, have continued to increase. <cmsannotation type="cmsannotation" annotationid="Credit card and UPI preferred at PoS terminals" comment="Subhead" text="Credit card and UPI preferred at PoS terminals">Credit card and UPI preferred at PoS terminals</cmsannotation> In H1 2023 as compared to H1 2022, credit card transactions at point of sales (PoS) terminals amounted to ₹2.95 trillion (₹2,95,000 crore), showing robust growth of 30.5%, whereas debit card transactions were valued at ₹2.13 trillion(₹2,13,000 crore), marking an 11.9% decrease. As stated, the growth of UPI is the main reason why debit card transactions have fallen as people now prefer to use their phones to pay rather than swipe a debit card for practically the same result. However, payment through credit cards has a different result – one which gives the user a free grace period to pay or go for an instalment option. Plus, as mentioned before, credit card is the preferred mode for large ticket transactions. <cmsannotation type="cmsannotation" annotationid="The rise and rise of UPI" comment="Subhead" text="The rise and rise of UPI">The rise and rise of UPI</cmsannotation> UPI has maintained its supremacy as the leading payment channel in India, overshadowing all other available payment methods in 2023 again. The volume of UPI transactions witnessed a significant surge (more than 2X) from 4.6 billion transactions in January 2022 to 9.3 billion in June 2023. Concurrently, the transaction's overall worth followed a similar upward trend, moving from ₹8.3 trillion (₹8,30,000 crore) in January 2022 to nearly doubling to ₹14.7 trillion (₹14,70,000 crore ) in June 2023. This growth can be attributed to the widespread acceptance of UPI for various personal and payment transactions, both from the user's perspective and that of merchants. Furthermore, UPI has made substantial inroads into rural India. Comparing H1 2023 to H1 2022, the volume of UPI transactions has surged by an impressive 62%, increasing from 31.95 billion to 51.91 billion. <cmsannotation type="cmsannotation" annotationid="Payments through mobile apps on the rise" comment="Subhead" text="Payments through mobile apps on the rise">Payments through mobile apps on the rise</cmsannotation> The first half of 2023 has seen payments through phone apps shifting gears further. A significant portion of these growing transactions were UPI-based, but they encompassed various payment methods using bank accounts and more. During this period, the number of mobile transactions amounted to 52.15 billion, a 55.4% increase compared to the 33.55 billion recorded in HI 2022.

India’s debit card transactions fall but credit card spends rise further

The Indian IT services sector is staring at a second consecutive year of muted <keyword id="19965932" type="General" weightage="20" keywordseo="revenue-growth" source="keywords">revenue growth</keyword> due to modest increase in <keyword id="21414675" type="General" weightage="20" keywordseo="tech-spends" source="keywords">tech spends</keyword> in Europe and the US, a domestic rating agency said on Wednesday. Crisil Ratings said it expects the sector to grow at 5-7 per cent in FY25, after a growth of 6 per cent estimated to have been achieved in FY24. The overall industry size is pegged at USD 250 billion and it creates over 50 lakh direct jobs. "The slowdown in technology spend will continue this fiscal, weighing on the revenue growth of IT service providers," said Aditya Jhaver, director at Crisil. The industry is, however, expected to sustain in the key metric of profitability, as the operating profit margins will be stable at 22-23 per cent, the agency said, attributing it to prudent management of <keyword id="19999266" type="General" weightage="20" keywordseo="employee-costs" source="keywords">employee costs</keyword>. Crisil said the sectoral revenues achieved a compounded annual growth rate of 12 per cent for the decade through FY24. High interest rates and economic slowdown in client markets led to a modest single-digit growth in tech spends by companies in the banking, financial services and insurance (BFSI), retail, technology and communications sectors in FY24, the agency said. It said these four sectors account for nearly two-thirds of the industry's revenues. Jhaver said revenue from BFSI and retail segments will continue to be a drag with subdued growth of 4-5 per cent in FY25. Manufacturing and healthcare, which contribute a tenth of the revenue, were the only bright spots and continued double-digit growth in tech spend given the focus on process automation and research and development-based analytics, especially in healthcare. As revenue growth remained subdued, IT service companies pulled back on addition of fresh talent, resulting in headcount reductions by 4 per cent in 2023 by top 12 companies. This, along with the decline in attrition to 13 per cent as of December 2023 from the high of 20 per cent in FY23 provided a breather by limiting higher-cost replacement hiring during FY24, it said. Associate director Joanne Gonsalves said the ratings company expects IT service providers to remain "cautious" on fresh hiring in FY25 too, which will maintain employee utilisation at a healthy level of ~85 per cent. Continued healthy cash generation, strong balance sheets and sizeable cash surplus will keep the credit quality of IT service providers stable, the rating agency said. Players will continue to eye acquisitions, especially small and mid-sized opportunities that could enhance their product baskets and increase digital capabilities, it said. An appreciation in the rupee value or sustained delay in economic revival in key markets amid ongoing geopolitical conflicts could pose downside risks, it added. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank">Realme Narzo 70, Narzo 70X 5G smartphones launched in India starting at ₹11,999</a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank">Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched</a><a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a>

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