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In an astonishing breakthrough, scientists in India have <keyword id="23249685" type="General" weightage="20" keywordseo="genetically-engineered-bacteria" source="keywords">genetically engineered bacteria</keyword> capable of performing <keyword id="23249686" type="General" weightage="20" keywordseo="mathematical-operations" source="keywords">mathematical operations</keyword>. Researchers from the <keyword id="23249687" type="General" weightage="20" keywordseo="Saha-Institute-of-Nuclear-Physics" source="keywords" meta.keywordsubtype="org" meta.entityname="Saha Institute of Nuclear Physics" meta.hostid="261" meta.entityid="Saha Institute of Nuclear Physics">Saha Institute of Nuclear Physics</keyword> (SINP) in Kolkata have demonstrated that clusters of bacterial cells can add, subtract, and even identify prime numbers between 0 and 9. This accomplishment marks a crucial step toward the development of biocomputers—computational devices made from <keyword id="23206086" type="General" weightage="20" keywordseo="living-cells" source="keywords">living cells</keyword> that could revolutionise how we think about computing in the future. <h2>A history of <keyword id="23249688" type="General" weightage="20" keywordseo="biological-computing" source="keywords">biological computing</keyword> </h2>The concept of using living cells for computation is not entirely new. Over the past two decades, researchers worldwide have explored the potential of biological systems to perform computational tasks. The first major breakthroughs came in the early 2000s when scientists developed synthetic biology techniques to engineer cells with logic gates—the fundamental components of digital computers. These biological logic gates allowed simple operations such as "AND," "OR," and "NOT," mimicking the operations seen in silicon-based processors. Following this, scientists advanced by using various microbes, such as <keyword id="22608696" type="General" weightage="20" keywordseo="E-coli" source="keywords">E. coli</keyword> and yeast, to perform basic mathematical operations like addition and subtraction. Researchers were able to construct networks of genes and proteins within the cells, programming them to respond to specific chemical inputs. While these early studies were promising, the computational tasks performed by cells were relatively simple and far from rivalling the capabilities of modern microprocessors. However, SINP's latest research takes a significant step forward by using a more sophisticated approach. The integration of artificial neural network concepts with genetic engineering enabled these bacterial cells to solve more complex and abstract problems, such as identifying prime numbers — tasks traditionally considered the domain of human brains or advanced computers. <div type="Article" hostid="261" msid="103532224" title="Scientist engineered bacteria to generate electricity from wastewater" mstype="2" mssubtype="0"></div> <h2>Turning <keyword id="6376020" type="General" weightage="20" keywordseo="bacteria" source="Orion">bacteria</keyword> into living machines </h2>The research team modified the E. coli genomes, incorporating 14 distinct genetic circuits, to create different bacterial types. These bacteria can be combined and arranged in liquid environments to execute various computational functions. In one set of experiments, the scientists were able to get them to add, subtract, and solve ten different computational problems, including determining prime numbers between 0 and 9. The bacteria's ability to answer yes-or-no questions, like "Is 4 a prime number?" or "Is 7 a prime number?" was particularly astonishing. When the bacteria were questioned chemically, they responded by secreting proteins that indicated their answers — green for "yes" and red for "no." This development underscores their capacity to function as living computers. The implications of this research are immense, not only for computational science but also for fundamental biology. “Mammalian cells make decisions all the time, and we currently have very little understanding of this decision-making process,” said Mohit Kumar Jolly, assistant professor at the Indian Institute of Science, Bangalore. This study offers fresh insights into biological decision-making and could open new avenues for understanding how living organisms process information. As scientists continue to explore the computational power of living cells, the possibilities are endless. Bacteria, once considered simple organisms, may well hold the key to the future of computing. <div type="Article" hostid="261" msid="110909568" title="A living computer? This AI made from interconnected &amp;quot;mini-brains&amp;quot; requires a million times less power than ChatGPT!" mstype="2" mssubtype="0"></div>

Did you know that genetically engineered bacteria can do math?

India's biggest <keyword id="19972015" type="General" weightage="20" keywordseo="e-scooter" source="keywords">e-scooter</keyword> maker, <keyword id="19897349" type="General" weightage="100" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword>, has ramped up capacity at its service centres across the country by over 30% to transform its service and elevate the <keyword id="22742985" type="General" weightage="20" keywordseo="after-sales-experience" source="keywords">after-sales experience</keyword> of customers, sources said. The Softbank Group-backed firm, which commands nearly a third of the market share in India's e-scooter market, has added more than 50 <keyword id="23754615" type="General" weightage="20" keywordseo="service-centers" source="keywords">service centers</keyword> and has hired over 500 service technicians across new and existing service centres to streamline operations and clear all backlogs. Recently, the company announced that it has managed to clear about 99% of its complaint logjam, even as public backlash on the company's e-scooters continues to emerge almost every day. Reportedly, <keyword id="20127554" type="General" weightage="20" keywordseo="CCPA" source="keywords" meta.keywordsubtype="org" meta.entityname="CCPA" meta.hostid="261" meta.entityid="CCPA">CCPA</keyword> is set to probe this claim, with the company also onboarding Ernst &amp; Young for service transformation, strategy, and optimization of overall service processes. "The company has already cleared around two-thirds of the service backlog and should be able to clear the remaining in the next couple of weeks," said a senior official within the organization, requesting anonymity, to ANI. <keyword id="19945904" type="General" weightage="20" keywordseo="ola" source="keywords">Ola</keyword> was in the spotlight earlier this month following a public spat between its founder <keyword id="19914967" type="General" weightage="20" keywordseo="Bhavish-Aggarwal" source="keywords">Bhavish Aggarwal</keyword> and standup comedian Kunal Kamra over the quality of service. Last week, <keyword id="20328940" type="General" weightage="20" keywordseo="HSBC-Global-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="HSBC Global Research" meta.hostid="261" meta.entityid="HSBC Global Research">HSBC Global Research</keyword> maintained a 'buy' rating for Ola Electric shares with a target price of Rs 110 apiece, slashing it down from its earlier recommendation of Rs 140. The global research firm revisited Ola Electric's service centers a month after an earlier inspection in September and noted the need for substantial improvements in service centers. On NSE, Ola Electric shares dipped below its IPO issue price of Rs 76 on Tuesday, hitting its 52-week low of Rs 74.84. Today, it closed the day at Rs 80.90, up by 1.34%. At present, the company has a total market cap of Rs 35,683.61 crore. The stock closed at Rs 80.88, up by 1.28% today on the BSE. In September, founder and CMD Bhavish Aggarwal announced the #HyperService campaign to offer technology-led, best-in-class after-sales experience. As part of the announcement, Ola Electric plans to double the company-owned service network to 1,000 centers by December 2024. According to the government portal Vahan, Ola Electric has reinforced its leadership position in the category with an increased market share of over 30% in October 2024 so far, up from 27% in September 2024.

Ola Electric boosts service capacity by 30%; adds over 50 centers, and 500 technicians to clear complaint backlog

If your broadband connectivity faltered recently, the cause may be far above the Earth. On October 19, 2024, the <keyword id="23654638" type="General" weightage="100" keywordseo="Intelsat-33e" source="keywords">Intelsat 33e</keyword> satellite experienced a catastrophic event in <keyword id="20509348" type="General" weightage="20" keywordseo="geostationary-orbit" source="keywords">geostationary orbit</keyword>, breaking into at least 20 pieces. This fragmentation was later confirmed to have generated over 57 pieces of <keyword id="20715750" type="General" weightage="20" keywordseo="space-debris" source="keywords">space debris</keyword>. The satellite’s sudden disintegration impacted certain broadband and connectivity services in Asia, Europe and Africa. While the satellite wasn’t widely used for everyday home broadband, its services were vital for specific sectors. <keyword id="21479073" type="General" weightage="20" keywordseo="Intelsat" source="keywords" meta.keywordsubtype="org" meta.entityname="Intelsat" meta.hostid="261" meta.entityid="Intelsat">Intelsat</keyword> 33e was a critical part of Intelsat’s EpicNG network, delivering high-throughput broadband for inflight Wi-Fi, maritime connectivity, and business communications. It even supported broadband for airlines in India through a partnership with Tata's Nelco. However, the incident that occurred on October 19 resulted in a loss of power and service to Intelsat’s customers. In a statement released by the company, Intesat said that they were assessing their fleet’s capacity as well as working with third-party providers to mitigate service interruptions. Intelsat representatives were in direct communication with all affected customers, it further said. <h2>What caused the satellite to break apart? </h2>Instances of deliberate satellite destructions, accidental collisions and violent solar activity have all been documented in the past. But the exact cause of the satellite's breakup is still under investigation. Notably, Intelsat 33e, designed and manufactured by <keyword id="23663703" type="General" weightage="20" keywordseo="Boeing-Space-Systems" source="keywords" meta.keywordsubtype="org" meta.entityname="Boeing Space Systems" meta.hostid="261" meta.entityid="Boeing Space Systems">Boeing Space Systems</keyword>, has had a history of propulsion problems. Soon after its launch in 2016, the satellite faced thruster issues, which reduced its operational lifespan. Such malfunctions may have contributed to the satellite’s structural failure over time. In fact, the Boeing-built EpicNG 702MP satellite bus has experienced failures in the past, including one in 2019. At the moment, it remains unclear whether this was an isolated incident or part of a larger mechanical failure. Regardless of the root cause, the most pressing issue left by the incident is the generation of space debris, which presents risks for other operational satellites. <h2>Growing pile of space junk </h2>The breakup of Intelsat 33e adds to a growing concern: space debris. With over 57 pieces of the 6,600 kilogram satellite now floating in geostationary orbit, the risk to other satellites and space assets has increased. Space junk can cause significant damage to operational satellites by colliding with them at high speeds. Each collision generates even more debris, creating a dangerous cascade effect known as the Kessler syndrome, where space becomes increasingly congested and hazardous for future missions. While steps are being taken to track and mitigate space debris, incidents like this one highlight the growing urgency for better space traffic management and debris removal solutions. As we rely more on satellite infrastructure for global communication, the safety and sustainability of space have never been more critical. <div type="Article" hostid="261" msid="114292761" title="The sun is at its 11-year maximum. That means another year of eruptions that can endanger satellites, ground flights, and spark stunning auroras." mstype="2" mssubtype="0"></div>

Did you experience wonky broadband service recently? A broken satellite in space might have something to do with it!

<ul class="summary-list"><li>Comcast's Mike Cavanagh said the company will explore ditching its cable networks.</li><li>The company may also look to partner Peacock with a rival streaming service.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/comcast-split-cable-tv-cnbc-bravo-nbc-peacock-2024-10">Comcast</a> said this week it might separate from its cable networks and marry off its streaming service. Several media analysts worry that those moves might only end in heartbreak.Mike Cavanagh, Comcast's president, floated the idea Thursday of spinning out cable networks like CNBC and MSNBC into a new firm while holding on to NBC. If this sounds familiar, it's because rival <a target="_blank" href="https://www.businessinsider.com/disneys-sale-abc-bob-iger-grand-plan-tv-streaming-espn-2023-9">Disney</a> considered a similar move last summer — floating a sale of its broadcast network, ABC — <a target="_blank" href="https://www.businessinsider.com/disney-not-selling-abc-networks-bob-iger-insists-2023-11">before later backtracking</a>.Cavanagh also said Comcast "would consider partnerships in streaming, despite their complexities" — even after reporting that morning that its streaming service, Peacock, added an impressive 3 million subscribers in the most recent quarter.These comments come after Bank of America media analyst Jessica Reif Ehrlich opined over the summer that fellow firm Warner Bros. Discovery <a target="_blank" href="https://www.businessinsider.com/warner-bros-discovery-wbd-zaslav-struggles-streaming-media-strategy-analysis-2024-7">should find a streaming partner</a> or <a target="_blank" href="https://www.businessinsider.com/warner-bros-discovery-split-plan-hbo-max-reaction-2024-7">consider splitting up its business</a>, given that <a target="_blank" href="https://www.businessinsider.com/cable-tv-subscriber-losses-q2-venu-moffettnathanson-2024-9">the pay-TV business is severely challenged</a>.<h2 id="3f451567-2f24-4735-848c-f6eb697ba23d">Why Wall Street isn't sold on a network spinoff</h2>At first, Wall Street seemed to celebrate Comcast's potential strategic shift, as its stock spiked 6% in early trading after Cavanagh's comments and its strong earnings report.However, shares shed much of those gains within a few hours before ending the day up 2.4%. Investors may want Comcast to exit the challenging media business altogether.Several industry analysts said that Comcast could increase its valuation by divorcing itself from its declining cable networks, as it would help emphasize its burgeoning streaming business."We believe a spin would help isolate the value of its growth areas," UBS media analyst John Hodulik wrote in an October 31 note.Craig Moffett of MoffettNathanson agreed, telling Business Insider via email that "it would be a welcome development to shed an albatross business and leave in its wake a cleaner and simpler growth story.""Investors have yearned for exactly this, or at least something close to it, for years," Moffett wrote in a note to clients.While that move may make sense on paper, it could prove to be difficult in practice.There's an obvious issue with such a spin-off, as Business Insider's Peter Kafka noted: <a target="_blank" href="https://www.businessinsider.com/comcast-split-cable-tv-cnbc-bravo-nbc-peacock-2024-10">Who would want to buy these less desirable assets</a>, at least at a price that Comcast could stomach?"Carving out the US cable networks, which include USA, CNBC, and E!, without Peacock or the NBC broadcast network would be odd," wrote Michael Hodel, a media analyst at Morningstar. "The cable networks likely have little value on their own. A spinoff would have to be part of a larger strategic move, like merging with another firm."Macquarie's Tim Nollen agreed, writing on Friday morning that "we question how valuable cable networks would be stand-alone, without ties to NBCU's studio and streaming capability, and lacking advertising tie-ins."Rich Greenfield of Lightshed Partners went further, reasoning <a target="_blank" href="https://lightshedtmt.com/2024/10/31/comcast-all-dressed-up-nowhere-to-go-the-struggle-of-being-open-to-possibilities/">in his note to clients</a> that there isn't a logical partner out there. Starz is a minnow relative to its peers, and Greenfield said it's "certainly not strong enough to protect a weak basic cable network portfolio."And while combining with WBD's TV networks could lead to significant cost savings, Greenfield suspects David Zaslav and company actually have the upper hand on Comcast. Although many thought WBD would be toast without the NBA, Greenfield believes the company <a target="_blank" href="https://www.businessinsider.com/wbd-charter-deal-david-zaslav-nba-comcast-nbc-negotiations-tv-2024-9">could come out ahead</a> by saving money while <a target="_blank" href="https://lightshedtmt.com/2024/10/29/david-vs-brian-are-investors-underestimating-warner-bros-discovery/">maintaining their networks' carriage fees</a>."There would be no urgency to such a combination," Greenfield wrote. "If we were in Zaslav's shoes, you would wait for NBCU to suffer and be opportunistic versus rushing into a merger to help Comcast."<h2 id="41cd4c2c-1365-4685-b790-9c8f8e798e6c">The Peacock partnership puzzle</h2>Comcast's streamer has made steady progress, but it can't truly compete with its larger rivals, analysts said."Even though Peacock has enjoyed some very consistent growth in recent years, it is still very clearly subscale," said Brandon Katz, a senior entertainment industry strategist at Parrot Analytics, in an interview. "It doesn't have the penetration needed to offset what has been back-to-back years of very significant losses."Joining forces with other subscale streamers like Max and Paramount+ may seem like a sound strategy, but Greenfield explained that the logistics would be tough.Peacock only operates in the US, while Max and Paramount+ have global aspirations. Comcast could keep licensing out Peacock's content abroad, though that may not be efficient.Another concern would be subscriber cannibalization. Greenfield estimated that a substantial number of Max and Paramount+ customers already have Peacock. A combined service would cost more, though it may not offset the overlap from ensuing cancellations.And then there's the question of whether Peacock would absorb Max or Paramount+, or vice versa. One of the biggest benefits of building a direct-to-consumer business is owning the customer relationship, so it's unclear which media giant would sacrifice that at this point.Even still, Katz said a Peacock-Max combination could be potent, given that the two services would garner a formidable share of on-platform demand, according to Parrot Analytics.But a Paramount+ tie-up could prove to be a safer option, given that its ownership structure seems more settled now that <a target="_blank" href="https://www.businessinsider.com/david-ellison-paramount-ceo-skydance-larry-ellison-son-2024-7">the Ellisons are backing it</a>.Either streaming partner would require Comcast to sort through a litany of logistics, though doing so may be their best option."Once you find the partnership you like, how do you distribute that most effectively to consumers, and what do you price it as?" Katz said. "It's a lot of unknowns, but a very tantalizing possibility for the industry."

Why Wall Street is skeptical about Comcast's proposal to ditch its cable networks and pair Peacock with a competitor

<ul><li>The <keyword id="23136597" type="General" weightage="20" keywordseo="PM-E-DRIVE" source="keywords">PM E-DRIVE</keyword> scheme, aimed at boosting the adoption of <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> has been notified.</li><li>The scheme comes into force from October 1, 2024 and will end on March 31, 2026.</li><li>The scheme has an outlay of ₹10,900 crore, spread over two years.</li></ul>Prime Minister Narendra Modi-led central government has notified a new scheme aimed at boosting the adoption of electric vehicles (EVs). The scheme, dubbed as PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) comes with an outlay of ₹10,900 crore. The PM E-DRIVE scheme will be implemented from tomorrow, October 1, 2024, and will be in force till March 31, 2026. The total outlay of ₹10,900 crore is spread over two years, with ₹5,047 crore allocated for FY 2024-25 and ₹5,853 crore for FY 2025-26. The scheme is aimed at accelerating the adoption of EVs in the country, with a focus on electric two-wheelers, electric three-wheelers (e-3Ws) and more. The scheme will also offer grants for the creation of capital assets such as electric buses, the establishment of a network of charging stations and the upgradation of testing agencies identified under this scheme. <div type="Article" hostid="261" msid="113050150" title="Electric two-wheeler sales declined in August 2024, but year-on-year growth continues" mstype="2" mssubtype="0"></div> The PM E-DRIVE Scheme has replaced the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME-II) scheme. Launched in 2015, the FAME-I scheme had an initial outlay of ₹795 crore, which was later extended to ₹895 crore. The government introduced the FAME-II scheme in 2019 with a budget of ₹10,000 crore, which was later enhanced to ₹11,500 crore to extend its support for electric vehicles until March 2024. Following this, the <a href="https://www.businessinsider.in/business/auto/news/government-extends-ev-subsidy-scheme-till-september-30-increases-outlay/articleshow/112062360.cms">Electric Mobility Promotion Scheme 2024</a> (EMPS-2024) was rolled out with a fund allocation of ₹778 crore from April 1, 2024, to September 30, 2024. The PM E-DRIVE subsumes the ongoing EMPS-2024 scheme. A major focus of the scheme is providing demand incentives to lower the acquisition cost of EVs for consumers. For FY 2024-25, the scheme proposes a demand incentive of ₹5,000 per kWh for e-2Ws and e-3Ws, which will be reduced to ₹2,500 per kWh in FY 2025-26. A major part of the outlay, around ₹8,070 crore has been earmarked for EVs. This includes ₹4,391 crore for electric buses and ₹1,772 crore for electric two-wheelers. As part of the scheme, the central government aims to support the purchase of over 14,000 e-buses, establish 2,000 charging stations, and upgrade EV testing facilities across the country. A total of ₹7,171 crore has been allocated for capital asset creation. The scheme encourages states to provide supplemental support through fiscal and non-fiscal incentives. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms">Upcoming cars launching in India in October 2024</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms">Upcoming smartphones launching in India in October 2024</a> <a href="https://www.businessinsider.in/stock-market/news/krn-heat-exchanger-ipo-allotment-check-allotment-status-gmp-listing-date-and-more/articleshow/113801258.cms">KRN Heat Exchanger IPO allotment – Check allotment status, GMP, listing date and more</a>

PM E-DRIVE scheme with ₹10,900 crore outlay announced for electric vehicles

<ul><li><keyword id="23313190" type="General" weightage="100" keywordseo="Musashi-Seimitsu" source="keywords">Musashi Seimitsu</keyword> Industry and <keyword id="23313191" type="General" weightage="20" keywordseo="Log9-Materials" source="keywords" meta.keywordsubtype="org" meta.entityname="Log9 Materials" meta.hostid="261" meta.entityid="Log9 Materials">Log9 Materials</keyword> have announced a strategic partnership.</li><li>The two companies will produce powertrain technology and battery solutions for EVs.</li><li>The companies will offer these solutions in India and global markets.</li></ul> Japanese firm Musashi Seimitsu Industry, the parent company of Musashi India has announced a strategic partnership with Indian <keyword id="20172158" type="General" weightage="20" keywordseo="battery-technology" source="keywords">battery technology</keyword> company Log9 Materials, aimed at developing advanced electric vehicle powertrain technology and battery solutions for OEMs in the domestic and global markets. The partnership aims at combining Musashi's <keyword id="23313192" type="General" weightage="20" keywordseo="e-Axle-system" source="keywords">e-Axle system</keyword> and Log9 Materials’ battery technology to create integrated powertrain solutions tailored specifically for electric two and three-wheelers. “This partnership marks a significant milestone in our vision to reshape the electric mobility landscape. By joining forces with Log9, we are committed to delivering a comprehensive, high-performance solution tailored for <keyword id="20345883" type="General" weightage="20" keywordseo="electric-two-wheelers" source="keywords">electric two-wheelers</keyword> and three-wheelers. Our goal is to address critical market gaps and offer an integrated system that enhances energy efficiency, optimizes synergy between battery and drivetrain systems, and sets new industry standards for sustainability and innovation,” said Hiroshi Otsuka, President and Group CEO, Musashi. In June, Musashi Seimitsu’s subsidiary Musashi Auto Parts India announced that it is starting mass production of e-Axles for electric two-wheelers in the domestic market. The company said by seamlessly integrating battery packs with e-Axles, the partnership aims to reduce energy losses common in conventional powertrains, extending vehicle range and improving performance across diverse driving conditions, especially in densely populated urban areas. "By combining Musahi's expertise in manufacturing and energy-efficient motion conversion with Log9's battery technology, we aim to bring the most efficient powertrain solutions to the market. Both companies are committed to the common goal of decarbonizing the world through innovative technology, and this collaboration strengthens our aligned business ethos and future objectives," said Pankaj Sharma, Co-founder of Log9 Materials. A key aspect of this partnership is the centralized service model for the integrated battery and e-Axle systems, which will reduce repair downtime and improve customer satisfaction through quicker service turnaround, it said. Beyond India, the partnership aims to expand into global markets, including Southeast Asia and Africa, supported by a robust after-sales service network in major Indian cities. As per the company, Musashi's entry into the EV sector aligns with its strategic goals of fostering innovation and contributing to global carbon emission reduction efforts. With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/entertainment/news/it-is-cheaper-to-watch-coldplay-perform-in-abu-dhabi-than-to-pay-scalpers-for-mumbai-tickets/articleshow/113665893.cms">It is cheaper to watch Coldplay perform in Abu Dhabi than to pay scalpers for Mumbai tickets</a> <a href="https://www.businessinsider.in/business/auto/news/hyundai-motor-indias-25000-crore-ipo-gets-sebi-approval-indias-biggest-ipo-expected-to-launch-in-october/articleshow/113658837.cms">Hyundai Motor India’s ₹25,000 crore IPO gets SEBI approval – India’s biggest IPO expected to launch in October</a> <a href="https://www.businessinsider.in/business/auto/news/tata-nexon-ev-with-a-bigger-battery-launched-starting-at-13-99-lakh/articleshow/113631992.cms">Tata Nexon EV with a bigger battery launched starting at ₹13.99 lakh</a>

Japan’s Musashi Seimitsu and Log9 Materials partner to offer EV powertrain and battery solutions

New Delhi: <keyword id="19904868" type="General" weightage="100" keywordseo="Ecom-Express" source="keywords">Ecom Express</keyword> Ltd has filed draft papers with capital markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">Sebi</keyword> to garner Rs 2,600 crore through an initial share-sale. The company's <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>) comprises a fresh issue of equity shares worth Rs 1,284.50 crore and an Offer for Sale (OFS) of shares valued Rs 1,315.50 crore by promoters and other shareholders, according to the draft red herring prospectus (DRHP). Proceeds from the fresh capital to the tune of Rs 387.44 crore will be used for setting up new processing centres with automation and new fulfilment centres, Rs 73.71 crore for computers and IT equipment, Rs 239.23 crore for enhancing technology, data science capabilities, and cloud infrastructure, and Rs 87.92 crore for payment of debt. Also, the remaining funds will be used for general corporate purposes and potential acquisitions, according to the draft papers filed on Wednesday. The company may consider raising Rs 257 crore through a pre-IPO placement. If such placement is undertaken, the amount raised will be deducted from the total fresh issue size. Ecom Express operates a pan-India express logistics network that handles first-mile pick-up, mid-mile transportation, last-mile delivery, returns, and warehousing services. By offering essential logistics infrastructure and using technology, the company connect digital retailers and <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> platforms with consumers across the country. According to RedSeer report, the <keyword id="22803827" type="General" weightage="20" keywordseo="Indian-e-commerce-market" source="keywords">Indian e-commerce market</keyword> is projected to grow significantly, with a compound annual growth rate (CAGR) of 21 per cent over the next five years. It is expected to increase from Rs 5.1 lakh crore in 2024 to Rs 12.5-13.5 lakh crore by 2029. Growth is notably strong in Tier 2+ regions, which are expected to account for 70-80 per cent of B2C e-commerce shipments by 2029, up from 62 per cent in 2024, the report added. Axis Capital Ltd, IIFL Securities Ltd, Kotak Mahindra Capital Company Ltd and UBS Securities India Private Ltd are the book running lead managers to the company's public issue.

Ecom Express files papers with Sebi for Rs 2,600-crore IPO

As India gears up for its vibrant festive season, a notable surge in <keyword id="23052492" type="General" weightage="20" keywordseo="seasonal-hiring" source="keywords">seasonal hiring</keyword> is taking place across various industries, with gig roles leading the charge. According to data from job site Indeed, seasonal hiring is projected to rise by 20% this year compared to last, driven primarily by <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword>, logistics, and retail sectors, as companies prepare for heightened consumer demand. Sashi Kumar, Head of Sales at Indeed India, emphasised, "The festive season is a crucial period for businesses across India, and we're seeing a significant uptick in hiring for seasonal roles as companies prepare to meet heightened consumer demand." <h3 style="line-height:1.2;margin-top:14.0pt;margin-bottom:4.0pt;">What is gig work?</h3>Gig work refers to flexible, short-term, or freelance employment often facilitated by digital platforms. Unlike traditional full-time jobs, gig workers are hired on a project basis, allowing them to work for multiple employers or companies as needed. These roles are popular in industries like food delivery, transportation, and logistics. During India's <keyword id="21015356" type="General" weightage="20" keywordseo="festival-season" source="keywords">festival season</keyword>, when businesses experience a spike in demand, gig workers play an essential role in ensuring smooth operations across sectors like retail and e-commerce. <h3>Gig labour during festival season</h3>The festive season in India, spanning from September to December, is one of the busiest times of the year for businesses. As a result, companies ramp up hiring to cope with increased sales and customer demand. Seasonal roles in delivery, logistics, warehouse operations, and customer support see the highest demand, as businesses focus on timely deliveries, inventory management, and customer satisfaction. Indeed's data reveals that the top gig roles witnessing a rise in hiring this season include <keyword id="21462485" type="General" weightage="20" keywordseo="delivery-executives" source="keywords">delivery executives</keyword>, <keyword id="22103182" type="General" weightage="20" keywordseo="warehouse-workers" source="keywords">warehouse workers</keyword>, <keyword id="23052493" type="General" weightage="20" keywordseo="logistics-coordinators" source="keywords">logistics coordinators</keyword>, <keyword id="23052494" type="General" weightage="20" keywordseo="in-store-sales-executives" source="keywords">in-store sales executives</keyword>, and customer care executives. While major cities like Mumbai, Bengaluru, and Delhi see a steady increase in demand for gig workers (18-20%), tier-2 and tier-3 cities like Nagpur, Jaipur, and Vadodara are emerging as key contributors, witnessing a hiring surge of 22-25%. <div type="Article" hostid="261" msid="112999246" title="As fast as some jobs are growing, others are losing steam" mstype="2" mssubtype="0"></div><h3><keyword id="3480589" type="General" weightage="20" keywordseo="meesho" source="Orion">Meesho</keyword> major contributor</h3>One of the standout examples this festive season is Meesho, a leading e-commerce marketplace in India. According to sources, the platform has enabled around 8.5 lakh seasonal job opportunities, representing a 70% increase from last year. Of these, 5 lakh jobs were created within Meesho's seller network, while another 3.5 lakh jobs emerged in the logistics sector. Sourabh Pandey, CXO of Fulfilment and Experience at Meesho, shared, "This festive season, we are particularly thrilled to have enabled 8.5 lakh seasonal jobs, especially in tier-3 and beyond cities. Empowering SMBs, local manufacturers, and logistics providers to scale their business is resulting in meaningful economic opportunities that are driving financial inclusion in these regions." Meesho has reportedly also partnered with prominent third-party logistics providers such as Delhivery, Ecom Express, and Shadowfax to meet the increased demands of the festive season. These collaborations have not only expanded logistics capacity but also helped generate gig opportunities in first-mile, middle-mile, and delivery associate roles. Abhishek Bansal, CEO &amp; Co-founder of Shadowfax, commented, "We are particularly excited to nearly double our capacity across several value-added services, such as Reverse Quality Check-Based Pickups and Hand-to-Hand Doorstep Exchange. These efforts ensure smooth deliveries and returns during the festive rush." <div type="Article" hostid="261" msid="112720685" title="If you want to find a job, it&amp;#39;s time to specialize" mstype="2" mssubtype="0"></div><h3 style="line-height:1.2;margin-top:14.0pt;margin-bottom:4.0pt;">The future of gig work in India</h3>The rapid rise in <keyword id="23052491" type="General" weightage="100" keywordseo="gig-hiring" source="keywords">gig hiring</keyword> reflects the evolving needs of today's consumers, particularly during high-demand periods like the festive season. The e-commerce industry, which saw a 35% rise in demand for seasonal workers, is expected to continue driving this trend, with logistics and retail sectors close behind. "The industries that are growing — e-commerce, logistics, quick commerce — are doing so because they're aligned with the needs and behaviours of today's consumers,” Sashi Kumar explains. “This is where the future of India's <keyword id="19916569" type="General" weightage="20" keywordseo="job-market" source="keywords">job market</keyword> could be heading". With a flurry of companies contributing significantly to job creation, particularly in tier-3 and tier-4 cities, gig work is becoming a vital source of employment across the country. As India's job market evolves, gig work is likely to play an even larger role in shaping the future of work, offering flexibility and economic opportunity to millions of workers. (With inputs from agencies)

E-commerce is expected to help seasonal hiring for gig roles surge by 20% this festival season: reports

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the proposal for the 3rd batch of ascending <keyword id="22338892" type="General" weightage="20" keywordseo="e-auctions" source="keywords">e-auctions</keyword> for 730 <keyword id="22951451" type="General" weightage="100" keywordseo="FM-radio-channels" source="keywords">FM radio channels</keyword> in 234 new cities, with an estimated reserve price of Rs. 784.87 crore under the <keyword id="22950610" type="General" weightage="20" keywordseo="Private-FM-Radio" source="keywords">Private FM Radio</keyword> <keyword id="22657617" type="General" weightage="20" keywordseo="Phase-III-Policy" source="keywords">Phase III Policy</keyword>. According to the official statement, the Cabinet also approved a proposal to set the <keyword id="22951452" type="General" weightage="20" keywordseo="Annual-License-Fee" source="keywords">Annual License Fee</keyword> (ALF) for FM channels at 4 per cent of <keyword id="20406587" type="General" weightage="20" keywordseo="Gross-Revenue" source="keywords">Gross Revenue</keyword>, excluding Goods and Services Tax (GST). This will apply to the 234 new cities and towns. The expansion of Private FM Radio to these 234 new locations will address the existing demand for FM radio services in areas still uncovered by private broadcasters, providing access to new and local content in <keyword id="20520759" type="General" weightage="20" keywordseo="regional-languages" source="keywords">regional languages</keyword>. This initiative will create new <keyword id="19972727" type="General" weightage="20" keywordseo="employment-opportunities" source="keywords">employment opportunities</keyword>, promote local dialects and culture, and support the 'vocal for local' initiative. Many of the approved cities and towns are located in Aspirational districts and areas affected by Left-Wing Extremism (LWE). The introduction of Private FM Radio in these regions will further strengthen the Government's outreach efforts. The evolution of India's Private FM Radio Policy marked a shift from <keyword id="22951453" type="General" weightage="20" keywordseo="medium-wave" source="keywords">Medium Wave</keyword> (MW) broadcasting to Frequency Modulated (FM) waves, driven by a need to enhance the quality and variety of radio programming, improve broadcast standards, and modernize outdated equipment. The journey began with the approval of the FM Phase-I Policy in July 1999, which aimed to revitalize the radio industry by introducing open auctions for selecting successful bidders. However, the initial phase met with limited success, with only 21 channels becoming operational across 12 cities. Recognizing the need for a more robust framework, the government introduced the improved FM Phase-II Policy in July 2005, following recommendations from the Dr Amit Mitra Committee and the Telecom Regulatory Authority of India (TRAI). This policy was well-received by stakeholders and resulted in significant growth in the FM radio industry, creating new employment opportunities and expanding the reach of private FM radio. Despite this success, many cities, particularly those with populations below three lakh and border areas, remained outside the private FM radio network. The necessity for further expansion led to the introduction of the FM Phase-III Policy, which sought to address the unmet demand for FM radio in uncovered cities. This policy recognized the strategic importance of extending FM radio services to border areas, such as Jammu &amp; Kashmir, the North Eastern states, and island territories, where private broadcasters had been reluctant to enter due to concerns about viability. The policy also aimed to incentivise the development of FM radio in these regions to counter cross-border propaganda and ensure that Indian radio channels had a wider reach. Additionally, the Phase-III Policy acknowledged the presence of 97 vacant channels from Phase-II that could not be auctioned for various reasons and emphasized the need for better utilisation of the frequency spectrum allocated for FM broadcasting.

Cabinet approves Rs 784.87 cr e-auctions for 730 FM radio channels across 234 new cities

Issues related to data privacy and rising <keyword id="20127272" type="General" weightage="20" keywordseo="online-frauds" source="keywords">online frauds</keyword> are emerging as significant hurdles in the growth of e-commerce in India, said the <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords" meta.keywordsubtype="org" meta.entityname="Economic Survey" meta.hostid="261" meta.entityid="Economic Survey">Economic Survey</keyword> 2023-24 tabled in Parliament on Monday. Citing third-party data, the survey said that the e-commerce industry in India is expected to cross USD 350 billion by 2030 and called for the need to educate users on the safe use of e-commerce platforms. "The rise of e-commerce is constrained by inadequate skills required for online selling, such as cataloguing. <keyword id="22505774" type="General" weightage="20" keywordseo="data-privacy-issues" source="keywords">Data privacy issues</keyword> and increasing online fraud have turned out to be the most significant hurdle in the growth of e-commerce in India. It becomes imperative to educate users on the safe use of e-commerce platforms," the survey said. The survey mentioned that India's e-commerce market has gained significant momentum during the past few years, owing to technological advancements, evolving new-age business models coupled with government initiatives like the Digital India program, UPI, One District - One Product (ODOP), Open Network for Digital Commerce (ONDC), new foreign trade policy, easing of FDI limits and Consumer Protection (E-Commerce) (Amendment) Rules 2021. It has identified data privacy and <keyword id="19906883" type="General" weightage="20" keywordseo="cybersecurity" source="keywords">cybersecurity</keyword> as critical concerns in the <keyword id="22505776" type="General" weightage="20" keywordseo="digitisation-of-services" source="keywords">digitisation of services</keyword> in the country and called for adopting strong security measures, compliance with privacy regulations, and innovation, among others. "Data privacy and cybersecurity have become critical concerns with the increasing digitisation of services," according to the survey. It said that the government is spearheading data protection laws and cybersecurity policies to safeguard consumer data and strengthen cybersecurity measures in the services sector. "To further embrace technology with confidence, ensuring the adoption of strong security measures, compliance with privacy regulations, and fostering innovation in security technologies are essential," the survey noted. It said the future of e-commerce is built on the enhanced <keyword id="20290101" type="General" weightage="20" keywordseo="user-experience" source="keywords">user experience</keyword> through <keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">AI</keyword>, seamless <keyword id="21332958" type="General" weightage="20" keywordseo="digital-payment-methods" source="keywords">digital payment methods</keyword>, innovations like UPI, and business engineering data analytics for business operations and enhancements. The survey mentioned that the buyer ecosystem in India is evolving at a very sharp rate, and business models will need to innovate to serve the needs of a diverse shopper base regarding service expectations, price sensitivity and language requirements. "Local language platforms are needed as the shopper base expands to tier-2 and tier-3 cities. Growing startups and innovative social media platforms provide an opportunity to test unique business models that might be targeted to specific demographic cohorts," the survey said.

Data privacy issues, online frauds emerging as e-commerce growth hurdles: Eco Survey

Online scams in India have been on the rise for the last few months and every now and then, a new case surfaces where a victim loses their hard-earned money. Usually, scammers in many cases pose as company officials to steal your sensitive information and misuse it. In one such recent incident, a 44-year-old woman from <keyword id="19895934" type="General" weightage="20" keywordseo="noida" source="keywords">Noida</keyword> recently fell victim to an <keyword id="20971199" type="General" weightage="100" keywordseo="esim-scam" source="Orion">eSIM scam</keyword>, losing ₹27 lakh and becoming the target of fraudulent loan activity. The scam involved the manipulation of her <keyword id="19909735" type="General" weightage="20" keywordseo="sim" source="keywords">SIM</keyword> card and banking details, which allowed the fraudster to siphon off her funds and take out a loan in her name. <h2>What exactly happened</h2> According to an HT report, <keyword id="23110017" type="General" weightage="20" keywordseo="jyotsana-bhatia" source="keywords">Jyotsana Bhatia</keyword>, a resident of Sector 82 in Noida, works at a private company and filed a complaint with the cybercrime police station in Sector 36. On August 31, Bhatia received a WhatsApp call from a person posing as a customer care executive from her telecom provider. The caller explained that her SIM card could be converted to an embedded SIM (eSIM), which is a digital version of a physical SIM card and can be helpful in case of phone loss. The suspect offered to help Bhatia activate the eSIM feature, instructing her to select the option in her mobile carrier’s application and enter a verification code that was sent to her phone. Bhatia, unaware of the fraud, followed the steps as instructed. Unfortunately, as soon as she entered the code, her physical SIM card was deactivated. The suspect assured her that a new SIM card would be delivered by September 1, leaving her temporarily without access to her mobile number. When the promised SIM card failed to arrive, Bhatia contacted the telecom provider’s customer care service and was advised to visit the service centre to get a replacement. After three days, on September 3, she was issued a new SIM card. However, by then, the damage had already been done. Bhatia started receiving messages from her bank, revealing that the fraudster had accessed her mobile banking account using her deactivated phone number. By changing the associated email ID, the suspect was able to bypass security checks and transfer large sums of money from her accounts. The fraudster also broke her fixed deposit, siphoned money from two bank accounts, and even took out a loan of ₹7.40 lakh in her name. Bhatia reported that the total amount stolen in multiple transactions amounted to ₹27 lakh. Shocked by the breach, she immediately filed an FIR with the cybercrime unit. The police registered the case under sections 318(4) (cheating) and 319(2) (cheating by personation) of the Bharatiya Nyaya Sanhita, as well as under relevant sections of the IT Act. Efforts to track down the suspect are currently underway. <h2>Understanding eSIM and its risks </h2> An eSIM (embedded SIM) is a digital version of a SIM card that is built into a device and does not require a physical card. While this technology is convenient and allows users to switch networks or plans without handling a physical card, it also opens the door to new forms of fraud. Scammers can manipulate eSIM features to deactivate a user’s existing SIM card and take control of their phone number, which is linked to various accounts and services. In this case, the fraudster exploited the victim’s trust by posing as a telecom customer care executive, taking advantage of her lack of knowledge about the risks associated with eSIM activation. Once the fraudster gained control of her phone number, they accessed her bank accounts through mobile banking applications that rely on the phone number for authentication. By changing the email ID linked to her account, they prevented the victim from receiving security alerts and were able to make unauthorised transactions without her knowledge.

Noida woman tries getting her sim card converted into e-sim, ends up losing Rs 27 lakh

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.

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