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The <keyword id="19900449" type="General" weightage="20" keywordseo="government" source="keywords">government</keyword> has sought proposals from the industry to set up <keyword id="22514802" type="General" weightage="20" keywordseo="E-commerce-export-hubs" source="keywords">e-commerce export hubs</keyword> (ECEH) in the country for examination, support, and hand-holding. Based on the proposal, further details, including software requirements for ECEH, to facilitate seamless and expeditious export clearances, will be firmed up, the Directorate General of Foreign Trade (<keyword id="19985555" type="General" weightage="20" keywordseo="DGFT" source="keywords">DGFT</keyword>) has said in a trade notice. In this regard, it said, draft modalities for operation of these hubs have been formulated. Based on draft modalities proposed, the government would like to initiate a pilot launch of ECEH. "In this regard, detailed proposal(s) for setting up ECEH may be submitted to this directorate, for examination, support and hand-holding," the DGFT said. In the Budget, the government announced setting up of these hubs to promote <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> through e-commerce medium in public-private-partnership (PPP) mode. Initially there are plans to set up 10-15 hubs in the country. These hubs would be designated areas, which would act as a centre for favourable business infrastructure and facilities for cross border e-commerce activities. The major objectives are to provide for predictability and shortest possible turnaround time for e-commerce exports, easy re-import for e-commerce returns or rejects, bringing various cross-border e-commerce stakeholders under one roof. At present, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s exports through this medium are only about USD 5 billion compared to China's USD 300 billion, annually. There is a potential to take it to USD 50-100 billion in the coming years. The draft modalities for operations of these hubs talked about movement of goods from supplier's premises to ECEH; pre-screening of goods; design of these hubs; and process flow for customs clearance once a buyer is found. ECEH will have two physical components -- first will be the fulfilment area for packing, labelling, storing to take place after pre-screening and till a buyer is found; and the second will be a customs station where the goods will be customs cleared after the buyer is found, ready for dispatch. Through these hubs, small producers will be facilitated to sell to aggregators and then that aggregator will find markets to sell. Export products, which hold huge potential through this medium include jewellery, apparel, handicrafts and ODOP (one district one product) goods. In such hubs, export clearances can be facilitated. Besides, it can also have warehousing facilities, customs clearance, returns processing, labelling, testing and repackaging. A report by economic think tank GTRI India's e-commerce exports have the potential to reach USD 350 billion by 2030, but banking issues hinder growth and increase operational costs. India has set a target of USD 1 trillion of merchandise exports by 2030 and cross-border e-commerce trade has been identified as one of the mediums to meet this aim. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

Govt seeks proposals for setting up e-commerce export hubs

The <keyword id="20163832" type="General" weightage="20" keywordseo="society-of-indian-automobile" source="keywords">Society of Indian Automobile</keyword> Manufacturers (<keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword>) and big auto players have hailed the Cabinet decision of PM e-DRIVE schemes aimed at promoting electric mobility across the country. The Rs 10,900 crore scheme will support 2,479,000 electric 2-wheelers, 316,000 electric 3-wheelers and 14,028 electric buses, along with 88,500 <keyword id="186291" type="General" weightage="100" keywordseo="ev" source="Orion">EV</keyword> charging sites. Shailesh Chandra, President of <keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword> and Managing Director of Tata Motors Passenger Vehicles Ltd &amp; Tata Passenger Electric Mobility Ltd, expressed strong support for the government's forward-thinking initiative. Chandra said, "This forward-thinking initiative reflects the Government's unwavering support for <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s transition to electric mobility, fostering innovation and investment within the sector. We beli<keyword id="186291" type="General" weightage="100" keywordseo="ev" source="Orion">ev</keyword>e this scheme will not only enhance the growth of the EV ecosystem but also strengthen <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s leadership in the global movement towards environmental sustainability." Dr Anish Shah, Group CEO &amp; MD, Mahindra Group also commended government's efforts, specifically highlighting the comprehensive nature of the PM e-DRIVE scheme. Shah said, "We applause the government for launching the PM e-drive scheme. With continued focused support on 2Ws, 3Ws, e-buses and thoughtful addition of e-ambulances, the scheme will drive higher EV penetration in the country." M&amp;M noted that schemes like <keyword id="21028" type="General" weightage="20" keywordseo="fame" source="Orion">FAME</keyword> and <keyword id="48070" type="General" weightage="20" keywordseo="emps" source="Orion">EMPS</keyword> have already driven penetration of electric three-wheelers in India. "Investments laid out for fast charging infrastructure for all segments will help in increasing consumer confidence for faster adoption of EVs. <keyword id="21028" type="General" weightage="20" keywordseo="fame" source="Orion">FAME</keyword> and <keyword id="48070" type="General" weightage="20" keywordseo="emps" source="Orion">EMPS</keyword> have helped in 20 per cent e-3W penetration in the country. With PM e-drive, we foresee India becoming the first country to achieve 100 per cent electrification in this segment by 2030", he added. The Union Cabinet, on Wednesday, cleared the 'PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM e-DRIVE) Scheme,' with a total outlay of Rs 10,900 crore over two years. It includes Rs 3,679 crore in subsidies and demand incentives for e-2Ws, e-3Ws, e-ambulances, e-trucks, and other emerging electric vehicles. It is expected to support the deployment of 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses, providing a significant push to India's EV ecosystem. A critical aspect of the scheme is the introduction of e-vouchers for EV buyers. At the time of purchase, an Aadhaar-authenticated e-voucher will be generated, which will enable buyers to avail of demand incentives. Additionally, the scheme allocates Rs 500 crore for the deployment of e-ambulances, marking a new initiative to integrate electric vehicles into essential public services. Another Rs 4,391 crore has been earmarked for the procurement of 14,028 e-buses, with a demand aggregation process led by CESL in nine major cities, including Delhi, Mumbai, and Bangalore. Intercity and interstate e-buses will also be supported in consultation with states. Furthermore, Rs 500 crore has been set aside to incentivize the adoption of e-trucks, a critical move given that trucks are one of the largest contributors to air pollution. The scheme encourages those with a scrapping certificate from <keyword id="19897457" type="General" weightage="20" keywordseo="ministry-of-road-transport" source="keywords">Ministry of Road Transport</keyword> and Highways-approved (MoRTH) vehicle scrapping centres to participate in this transition. With an allocation of Rs 2,000 crore, the scheme will support the installation of 22,100 fast chargers for four-wheelers, 1,800 fast chargers for e-buses, and 48,400 fast chargers for two- and three-wheelers. These chargers will be installed in cities with high EV penetration and along selected highways, making long-distance EV travel more viable.

Automobile industry hails PM e-DRIVE scheme to promote EVs

<ul class="summary-list"><li>Quant giant D.E. Shaw has hired people from non-traditional finance backgrounds for decades.</li><li>The firm's head of recruiting told BI he looks for certain traits when hiring, including "learning agility."</li></ul>It was 2011, and Tim Willenken had just spent the past 12 years — four as an undergrad and eight in a doctoral program — preparing to be a philosophy professor.There was just one problem: He didn't want to be in academia anymore.He "had no idea where to start" looking for a job, knowing just about the professions he had been exposed to in graduate school — doctors, lawyers, and professors, he told Business Insider.To learn about what else was out there, he went through his Facebook friends list and called people working at companies in roles he hadn't heard of before. He eventually spoke to an old college friend he knew through debate club who had previously worked at D.E. Shaw."That was the first time I'd heard of the firm," said Willenken, a senior vice president in the D.E. Shaw's corporate development unit. "I think I'd had one conversation about what a hedge fund was when I applied." D.E. Shaw, started in 1988 by now-billionaire computer scientist David Shaw in New York, is remarkably secretive even for the guarded world of hedge funds, but what little has leaked paints the manager as being on the <a target="_blank" class="" href="https://www.businessinsider.com/first-half-quant-returns-from-de-shaw-two-sigma-renaissance-2024-7">cutting edge</a> of quant finance.While working at the $60 billion fund is now the goal for many finance-focused students at <a target="_blank" class="" href="https://www.businessinsider.com/de-shaws-summer-internship-recruitment-interview-tips-2023-4">top universities</a> and a destination for quants, the manager has also maintained its long history of hiring non-traditional talent. Early hires included crime fiction writer Charles Ardai and Amazon founder Jeff Bezos, and the manager now boasts on its website that employees come "by way of academia, Silicon Valley, or an NGO."Other hedge funds are also hoping to convince academics, technologists, and others to join their ranks instead of staying in their field or working in Big Tech as they grow and compete to have best-in-class talent rosters. These offers are not just down to compensation, which is handsome at hedge funds.The firm's head of recruiting, Jeremy Reff, a former English major at Harvard who has worked at the fund for nearly two decades, is in charge of continuing and improving on this tradition of non-traditional hires. While some who join D.E. Shaw may require additional training or a longer runway to get up to speed, he said, the return on these hires outstrips the costs."There are benefits to having a beginner's mindset," he said, and the firm's expansion into different investment strategy types, such as <a target="_blank" class="" href="https://www.prnewswire.com/news-releases/the-d-e-shaw-group-raises-combined-1-1-billion-for-two-new-funds-focused-on-private-market-opportunities-301746589.html">private investing</a> and discretionary global macro, can be attributed to the curious nature of these hires.  The reality, though, is that a lot of roles don't have exact equivalents to other parts of the industry, so people from outside finance are not on that much different footing as those with more traditional finance backgrounds, he said. "We are looking for traits and attributes more than one particular skill," he said.<h2 id="1ec22262-b503-4604-bafe-92fe9e0ecb78">Mentorship, prerequisites, and 'learning agility'</h2>While the firm is happy to invest ample time in training talented recruits, certain roles still require certain skills. For example, knowing how to program is a must if you're applying to be a <a target="_blank" class="" href="https://www.businessinsider.com/wall-street-top-technology-projects-goldman-blackstone-morgan-stanley-2024-8#d-e-shaw-s-generative-ai-approach-encourages-programmers-to-build-their-own-tools-4">software engineer</a>, Reff said.The firm's learning and development team is structured to get people up to speed on financial markets and where the firm sits within them. The rotational associates program lets new hires work for different teams in different roles so new employees can get a sense of where they fit best.The real learning happens on the job though."The only real way to learn is to get your hands dirty," Willenken said.Reff's job is to find people who can keep up. The interview process is designed to test potential at the firm, including creativity and "learning agility.""There are thousands of indicators for success that we use," he said. "No one is hired solely based on their résumé."   The firm used to consider <a target="_blank" class="" href="https://nymag.com/intelligencer/2019/09/david-e-shaw-college-donations.html">standardized test scores</a> as part of its hiring process but has phased them out over the last few years. "They aren't predictive of success," Reff said.The résumés are generally reviewed blindly, meaning names are not attached to the qualifications and experience.   The process has changed significantly since Reff was hired in 2006, two years after graduating from undergrad; he recalled speaking to his interviewer for a while about the Spanish novel "Don Quixote." Now, it's a more structured process, incorporating industry best practices with the firm's internal metrics and "secret sauce."  "We don't get it 100% correct, of course, and are always tinkering with it," he said.<h2 id="067dcf50-7ee4-431a-b455-7435b3922f71">Academics, doctors, and veterans</h2>The end result is that driven people find their place in the firm, one way or another. Ana Díaz Rivero, a quantitative researcher, "never had an interest in finance," but wanted to leave academia after getting her doctorate in physics.Her role allowed her to "continue pursuing academic research without being in academia," she said."A lot of the skills and tools we use are very similar. The principles behind how we do research are very similar," she said.For those who have joined the firm after working in a non-finance field, incorporating past abilities and skills into their current roles was a big selling point.For some, the biggest carryover from their former careers is habits they learned, like Lindsay Temes's military-trained punctuality and organizational skills. For others, like Dr. Omar Ali, a healthcare specialist on the fundamental equities team, there's more overlap.<div type="image" title="Lindsey Temes sits at a table, writing on a notepad" height="2667" width="4000" msid="114980202" hostid="261" sizebytes="1074078"></div>Temes, a vice president in the COO Group, spent more than a decade in the Air Force before leaving in 2018 to attend graduate programs at Harvard and MIT.As a Pat Tillman Foundation scholar, a program named for the late former football player-turned-soldier that covers veterans' education expenses, she was introduced to D.E. Shaw and found it was a place where she "would be valued and heard."  She overcame some initial hesitancy about financial services thanks to employees from non-traditional backgrounds who stressed that her role wasn't going to be "static."  A former doctor for the UK's National Health Service, Ali said that "the day-to-day is certainly different than working in medicine," but the jump to finance wasn't as daunting as it can seem from the outside.<div type="image" title="Dr. Omar Ali smiles while sitting in a conference room" height="1525" width="2000" msid="114980199" hostid="261" sizebytes="230880"></div>He said firms that focus on their employees' talents and not on fitting people into specific boxes make the transition easy."My real value is not my ability to navigate a balance sheet, it's my practical expertise in the field and my background," he said.<h2 id="900d026f-556a-4784-8b67-9629236daaba">Don't want to 'win' on compensation</h2>Hedge funds are known for paying their employees well, especially compared to fields like academia or government work.Job postings show positions such as a software developer making $200,000 a year, and a summer internship on the fundamental research team for college students is offering $18,000 a month in salary, plus overtime, along with a $10,000 signing bonus, a $10,000 housing allowance, and thousands of dollars in stipends for "self-study" materials and technology equipment.But Reff said, "I never want to win on solely compensation," and those who have joined from outside finance say they were drawn to the firm for a number of reasons beyond pay.Díaz Rivero and Ali knew of D.E. Shaw Research, a computational drug discovery company led by Shaw, which put the hedge fund on their radar. Willenken, the doctor of philosophy, appreciated that his role included the parts of academia he enjoyed most without the siloed approach academic research roles typically require.Timelines are tighter and there's more collaboration on the corporate development team, he said, and "the questions are a little more concrete than in philosophy." But he is using the same muscles to search for answers to questions that don't have easy answers.   "There's not a lot of low-hanging fruit. If there was an obvious answer, someone would have thought of it by now," he said.Reff has a shorthand he uses with potential recruits to describe the firm: "These are a bunch of people who really want to get things right."  "I think that's very attractive to people in a lot of different fields," he said.

Why quant giant D.E. Shaw seeks out academics, doctors, and veterans to work at the $60 billion hedge fund

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is planning a <keyword id="22964001" type="General" weightage="100" keywordseo="repairability-index" source="keywords">repairability index</keyword> for <keyword id="20016418" type="General" weightage="20" keywordseo="mobile-phones" source="keywords">mobile phones</keyword> and electronic products to address the growing <keyword id="19932462" type="General" weightage="20" keywordseo="e-waste" source="keywords">e-waste</keyword> problem and encourage manufacturers to produce more easily repairable items, officials said on Thursday. The <keyword id="20026051" type="General" weightage="20" keywordseo="Consumer-Affairs-Ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Consumer Affairs Ministry" meta.hostid="261" meta.entityid="Consumer Affairs Ministry">Consumer Affairs Ministry</keyword> is spearheading the initiative, which will provide a score on key parameters to inform consumers about the ease with which a product can be repaired, the officials said at a national workshop on the issue. Addressing the workshop, <keyword id="20003684" type="General" weightage="20" keywordseo="consumer-affairs" source="keywords">Consumer Affairs</keyword> Secretary Nidhi Khare said: "As India emerges as the third largest economy in the world, we should have a vibrant and tech-savvy repair system." She also added, "India can become a repair hub for the world." The proposed index will be similar to initiatives in other countries, such as France's repairability index. It will rate products on criteria including availability of technical documents, ease of disassembly, spare parts availability and pricing. The workshop was aimed at establishing a consensus among industry stakeholders on "key parameters for accessing and evaluating repairability index" besides promoting longevity in product design, and democratizing repair information to enhance consumer experiences in reusing the mobile and <keyword id="19896834" type="General" weightage="20" keywordseo="electronics" source="keywords">electronics</keyword> products they own. Additional Secretary Bharat Khera emphasized the need for transparent and affordable repair solutions, increased consumer awareness, and support for local repairers. Joint Secretary Anupam Mishra highlighted concerns about the lack of genuine spare parts in local markets, compatibility issues with product components, and the absence of information for consumers to repair their own devices. He also mentioned that the Repairability Index of France rates products on five criteria, while the EU has additional parameters. <keyword id="20032279" type="General" weightage="20" keywordseo="HCL-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="HCL Technologies" meta.hostid="261" meta.entityid="HCL Technologies">HCL Technologies</keyword> Founder Ajai Chowdhry called for legislation to drive change. "Today, most products are not repairable. We need to design products which can be repaired.... Unless we create a law, things will not change," he said. The government has already launched a <keyword id="22964002" type="General" weightage="20" keywordseo="Right-to-Repair-Portal" source="keywords">Right to Repair Portal</keyword>, with 63 companies onboard, including 23 from the mobile and electronics sector. India is the third largest electronic waste producer globally after China and the US. The initiative aims to reduce e-waste, promote <keyword id="20128078" type="General" weightage="20" keywordseo="sustainable-practices" source="keywords">sustainable practices</keyword>, and create opportunities for third-party repairers in India's growing electronics market.

India plans repairability index for mobile, electronics to tackle e-waste

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

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

<keyword id="22865833" type="General" weightage="20" keywordseo="online-vendors" source="keywords">Online vendors</keyword> have generated 15.8 million <keyword id="19914922" type="General" weightage="20" keywordseo="jobs" source="keywords">jobs</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>, including 3.5 million for women, with about 1.76 million retail enterprises participating in <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> activity, says a report released on Wednesday. The report 'Assessing the Net Impact of e-Commerce on <keyword id="19898684" type="General" weightage="20" keywordseo="employment" source="keywords">Employment</keyword> and Consumer Welfare in India' was launched by Commerce and Industry Minister Piyush Goyal. "Plugging in data from our survey, we estimate that online vendors generate 15.8 million jobs, including 3.5 million jobs for women," the report prepared by Pahle India Foundation (PIF), a Delhi-based policy research institute, said. E-commerce, according to the report, has been a key driver of employment generation In India. On an average, online vendors employ 54 per cent more people and almost twice the number of female employees, compared to offline vendors. The report noted that two of the most widely-recognised contributions of e-commerce penetration in the retail sector are --growth in employment and improvements in consumer welfare. It said rather than displacing physical markets, e-commerce is expanding into new territories like tier 3 cities. "Our data shows that a higher percentage of Tier 3 city consumers spend more than Rs 5,000 per month on online shopping as compared to consumers from bigger cities," it said, adding this is the India consumption story, which enables the co-existence of physical and digital retail. The study analysed the impact e-commerce has had on employment and consumer welfare through a pan-India survey of 2,062 online vendors, 2,031 offline vendors, and 8,209 consumers of products from e-commerce websites across 35 cities in 20 states and UTs. According to the report, each e-commerce vendor on an average employs about 9 people, of which 2 are female, while each offline vendor employs about 6 people, of which only 1 is female. It pointed out that there was increase in employment across skill levels, including high-skilled (management, marketing), medium-skilled (customer service, operations), and low-skilled (warehousing, logistics, delivery) functions. The report said that the growth of e-commerce and accompanying digitalisation have fundamentally changed the skill sets and roles required in the industry. "Vendors have experienced improved business performance parameters since listing online, including higher sales and profits," it said. According to the report, 60 per cent and 52 per cent of vendors, respectively, state that their sales and profits have increased since the time they have started selling online. "Overall, more than two thirds of the online vendors interviewed experienced an increase in online sales value and profits in the past year," the report said, adding that 58 per cent saw an increase in both. Barring costs, it said vendors have seen a positive shift in all other aspects of business performance since they started selling online. The report said there is a strong business case for offline vendors to list on e-commerce platforms or pursue an omni-channel strategy. "E-commerce integration has accrued significant benefits to vendors from smaller cities and micro-enterprises," it said. The study also delves into how e-commerce has reshaped consumer behaviour, noting that consumers have shifted to online shopping for reasons that include convenience, product variety, and access. "A highly engaged consumer base is indicated by the fact that more than 50 per cent of all respondents to the survey spent more than two hours on e-commerce platforms a week, and that 70 per cent made a purchase via e-commerce in the last month alone," it said. Speaking at the event, former NITI Aayog Vice Chairman Rajiv Kumar said, e-commerce has revolutionized India's retail landscape. Ministry of Statistics and Programme Implementation(MoSPI) secretary Saurabh Garg lauded the government's initiatives expanding digital public infrastructure that have enabled the smooth expansion of e-commerce. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-gained-over-3-million-subscribers-in-june-vi-lost-nearly-a-million/articleshow/112670406.cms">Reliance Jio and Airtel gained over 3 million subscribers in June, Vi lost nearly a million</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-iphone-pro-models-will-be-made-in-india-for-the-first-time-this-year/articleshow/112653019.cms">The iPhone Pro models will be made in India for the first time this year</a> <a href="https://www.businessinsider.in/stock-market/webstories/orient-technologies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112646237.cms">Orient Technologies IPO – Price band to risk factors, all you need to know</a>

Online vendors generated 15.8 million jobs in India: e-commerce report

<ul class="summary-list"><li>Nvidia faces DOJ scrutiny over its $700 million acquisition of Israeli AI startup Run:ai.</li><li>The investigation is part of a broader crackdown on Big Tech's market dominance.</li></ul>Even <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-big-tech-earnings-week-early-winner-ai-microsoft-2024-7">Nvidia</a>, which <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-amd-semiconductor-chip-stock-gains-2q-earnings-reaction-outlook-2024-7">appears untouchable</a> in 2024, may not be immune to the <a target="_blank" class="" href="https://www.businessinsider.com/amazon-ftc-big-tech-will-never-lose-us-antitrust-case-2023-9">government's sweeping crackdown</a> on the Magnificent Seven.The chipmaker is in the Department of Justice's crosshairs amid a years-long antitrust sweep. On Thursday, <a target="_blank" class="" href="https://www.politico.com/news/2024/08/01/feds-nvidia-ai-deal-chips-00172322">Politico</a> reported that the agency is investigating Nvidia's acquisition of an Israeli AI startup called Run:ai. Nvidia bought the company for a reported $700 million in April.Run:ai, which has collaborated with Nvidia since 2020, allows AI developers to use only a fraction of the graphic processing units otherwise needed. Using fewer chips solved two problems: It makes buying GPUs cheaper, and reduces the need for chips at a time when demand is so high, there are global shortages.US regulators are also investigating Nvidia in a wider probe. They have received complaints from competitors that Nvidia abused its dominance and pressured cloud providers to buy multiple Nvidia products, The Information reported on Thursday.Nvidia stock prices have <a target="_blank" rel="" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-outlook-investors-selling-ai-artificial-intelligence-bubble-hype-2023-6">more than doubled</a> since the start of the year. In June, it briefly became the <a target="_blank" rel="" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-market-cap-microsoft-most-valuable-company-ai-2024-6?_gl=1*nq7cze*_ga*MzE0NTU5NjEuMTcxNTY0OTc0Nw..*_ga_E21CV80ZCZ*MTcyMjQwNzAyMy4yNDIuMS4xNzIyNDA5MDUwLjU5LjAuMA..">world's most valuable company</a>, because its chips are essential to the <a target="_blank" class="" href="https://www.businessinsider.com/how-much-big-tech-spending-on-ai-investments-2024-7">booming demand for AI.</a>Nvidia did not immediately respond to Business Insider's request for comment sent outside regular business hours."We compete based on decades of investment and innovation, scrupulously adhering to all laws, making Nvidia openly available in every cloud and on-prem for every enterprise, and ensuring that customers can choose whatever solution is best for them," Nvidia said in a statement to Reuters.The DOJ's focus on Nvidia follows a series of other recent government investigations into Big Tech. The FTC has been examining deals more closely and pushing for more <a target="_blank" rel="" href="https://www.businessinsider.com/how-amazon-forces-customers-to-pay-more-ftc-lawsuit-2023-9">aggressive competition policies</a> under the Biden administration.Earlier this year, the DOJ sued <a target="_blank" class="" href="https://www.businessinsider.com/apple-antitrust-lawsuit-justice-department-2024-3">Apple with an antitrust lawsuit</a> that accused it of illegally maintaining a smartphone monopoly by "delaying, degrading, or outright blocking" other technology in the smartphone market.In 2023, the FTC filed an antitrust complaint against <a target="_blank" rel="" href="https://www.businessinsider.com/how-amazon-forces-customers-to-pay-more-ftc-lawsuit-2023-9">Amazon</a>, saying that the e-commerce giant stop rivals from lowering prices, and overcharges sellers, which stifles innovation and competition.In 2022, the FTC repeatedly tried to block Microsoft's acquisition of Activision Blizzard, a leading video game developer. The agency said that the $69 billion deal would suppress competition in gaming.The US government has also filed similar recent <a target="_blank" class="" href="https://www.businessinsider.com/tesla-lawsuit-alleges-long-waits-service-centers-high-repair-prices-2023-3">lawsuits against Tesla</a>, Google parent <a target="_blank" rel="" href="https://www.businessinsider.com/google-antitrust-trial-big-tech-future-analysis-2024-5">Alphabet</a>, and <a target="_blank" rel="" href="https://www.businessinsider.com/ruling-ftc-meta-facebook-lawsuit-instagram-whatsapp-can-proceed-2022-1">Meta</a>.

Even Nvidia can't escape the government's crackdown on Big Tech

<keyword id="19956758" type="General" weightage="20" keywordseo="finance-minister" source="keywords">Finance Minister</keyword> <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> on Tuesday announced a <keyword id="20274081" type="General" weightage="20" keywordseo="credit-guarantee-scheme" source="keywords">credit guarantee scheme</keyword> for facilitating <keyword id="22087606" type="General" weightage="20" keywordseo="term-loans" source="keywords">term loans</keyword> for <keyword id="19910977" type="General" weightage="20" keywordseo="MSMEs" source="keywords">MSMEs</keyword> to purchase machinery and equipment without collateral or third-party guarantee. In her Budget speech in the Lok Sabha, she said the Budget provides special attention to micro, small &amp; medium enterprises (MSMEs) and manufacturing, particularly labour-intensive units. "We have formulated a package, covering financing, <keyword id="20961204" type="General" weightage="20" keywordseo="regulatory-changes" source="keywords">regulatory changes</keyword> and technology support for MSMEs to help them grow and also compete globally, as mentioned in the interim budget," she said. The credit guarantee scheme for MSMEs in manufacturing will operate on the pooling of credit risks of such entities. "A separately constituted self-financing guarantee fund will provide, to each applicant, guarantee cover up to Rs 100 crore, while the loan amount may be larger," the minister announced in the Budget. The borrower will have to provide an upfront guarantee fee and an annual guarantee fee on the reduced loan balance. She also announced a new mechanism for facilitating the continuation of bank credit to MSMEs during their stress period. Sitharaman said that while being in the 'special mention account' (SMA) stage for reasons beyond their control, MSMEs need credit to continue their business and avoid getting into the NPA stage. "Credit availability will be supported through a guarantee from a government-promoted fund," she added. In another move to help MSMEs, the minister announced a new assessment model for credit to the sector. She said public sector banks will build their in-house capability to assess MSMEs for credit, instead of relying on external assessment. "They will also take a lead in developing or getting developed a new credit assessment model, based on the scoring of digital footprints of MSMEs in the economy," she added. The new assessment model, she said, is expected to be a significant improvement over the traditional assessment of credit eligibility based only on asset or turnover criteria. It will also cover MSMEs without a formal accounting system. Mohammad Athar (Saif), partner and leader capital projects and infrastructure development, PwC India, said the credit guarantee scheme and <keyword id="22514802" type="General" weightage="20" keywordseo="e-commerce-export-hubs" source="keywords">e-commerce export hubs</keyword> for MSMEs will enable demand creation and boost India's aspiration of achieving USD 1 trillion in exports by 2030, driven by MSMEs. Sitharaman also announced that to enable MSMEs and traditional artisans to sell their products in international markets, e-commerce export hubs will be set up in public-private-partnership (PPP) mode. These hubs, under a seamless regulatory and logistic framework, will facilitate trade and export-related services under one roof. Vivek Jalan, Partner, Tax Connect, a multi-disciplinary firm, said, as requested by the trade and industry bodies and laid down by the Economic Survey, for MSME businesses, the compliance burden is also sought to be relaxed. Litigations will be reduced in the new <keyword id="22517694" type="General" weightage="20" keywordseo="Vivaad-Se-Vishwas-Scheme" source="keywords">Vivaad Se Vishwas Scheme</keyword>, he added. Rumki Majumdar, Economist, Deloitte India, said the credit guarantee schemes for MSMEs in the <keyword id="19955573" type="General" weightage="20" keywordseo="manufacturing-sector" source="keywords">manufacturing sector</keyword>, facilitating term loans for the purchase of machinery, and formulating packages to finance technology support to them will go a long way to providing access to finance and increasing investments, which have been key challenges in the sector.

You Searched For "e governance" and got 9 results

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Online vendors generated 15.8 million jobs in India: e-commerce report

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Even Nvidia can't escape the government's crackdown on Big Tech

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