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<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

<ul class="summary-list"><li>President-elect Donald Trump has tasked Elon Musk with slashing government spending.</li><li>Defense could be a prime target: It's the largest discretionary spending category in the federal budget.</li></ul>President-elect Donald Trump has tapped <a target="_blank" class="" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Elon Musk</a> to help spearhead cuts to government spending, and the defense sector could be a prime target.The Defense Department's budget for the 2024 fiscal year is $841 billion, roughly 12.5% of the total federal budget, and the Pentagon has struggled with cost overruns and waste.Musk plans to review federal spending as part of a newly created "Department of Government Efficiency" — or <a target="_blank" class="" href="https://www.businessinsider.com/trump-elon-musk-vivek-ramaswamy-department-government-efficiency-doge-2024-11">DOGE</a>. It's not an official agency, and Congress controls budgets for federal agencies. DOGE's role may be limited to <a target="_blank" href="https://www.businessinsider.com/elon-musk-vivek-ramaswamy-doge-government-efficiency-what-us-spends-2024-11">offering advice to Trump</a>.There are still a lot of unknowns around DOGE as it solicits direction from X, formerly <a target="_blank" href="https://www.businessinsider.com/elon-musk-twitter">Twitter</a>, including where and how it'll find up to $2 trillion in promised cuts.But Musk's past comments hint at one area he could target: defense contracts.Musk has criticized government contracts with top defense companies that put the government on the hook for overages in the construction of warships, aircraft, and combat vehicles. And his company, <a target="_blank" class="" href="https://www.businessinsider.com/spacex-elon-musk">SpaceX</a>, has won some government contracts by bearing higher risks of cost overruns.<h2 id="83ac3479-807f-4415-a020-96d80c7f3594">Musk's way of doing business</h2>Before Musk founded SpaceX in 2001, NASA and the Pentagon often used "cost-plus" contracts, which reimbursed contractors for their expenses and provided a set profit margin.<div type="image" title="President-elect Donald Trump listens as Elon Musk speaks during a campaign rally in Pennsylvania last month." height="2365" width="3541" msid="115359364" hostid="261" sizebytes="435768"></div>The contracts allowed for cost overruns and placed much of the risk on the US government, Clayton Swope, a senior fellow at the Center for Strategic and International Studies think tank, told Business Insider.Musk compared the contracts to "gravy trains" in journalist Walter Isaacson's biography of the billionaire. "You just can't get to Mars with that system," Musk said. "They have an incentive never to finish. If you never finish a cost-plus contract, then you suckle on the tit of the government forever."Musk built SpaceX's business model around fixed-price contracts. This means the government and contractors set a price for the project at the onset, and the company is paid predetermined amounts once it hits certain milestones.SpaceX has had several fixed-price contracts with NASA, including a <a target="_blank" class="" href="https://www.nasa.gov/news-release/first-contracted-spacex-resupply-mission-launches-with-nasa-cargo-to-space-station/">$1.6 billion contract</a> in 2008 for 12 missions under the agency's Commercial Resupply Services program and a <a target="_blank" class="" href="https://www.nasa.gov/wp-content/uploads/2018/07/spacex_nasa_crs-5_presskit-105.pdf">$2.6 billion contract</a> in 2014 that covered six crewed missions to the International Space Station.The US government previously reserved fixed-price contracts for off-the-shelf products that did not need to be specially made for the government, but SpaceX demonstrated that it could fund missions more efficiently, Swope said.Without the processes and tracking required for cost-plus contracts, companies like SpaceX "can be more agile to changes in the market and iterate on their products faster," Swope said. "When it's done right, it can be beneficial to both the government and the company."<div type="image" title="A SpaceX Falcon Heavy rocket with a NASA spacecraft bound for Jupiter lifts off from pad 39A at the Kennedy Space Center in October." height="2969" width="4453" msid="115359363" hostid="261" sizebytes="315044"></div><h2 id="b3b24f6e-1253-4bfb-9623-5ba146b04d68">Overspending and delays</h2>The Pentagon has often been criticized for mismanagement, delays, and ballooning costs on expensive systems. Earlier this year, for instance, a government watchdog found that the F-35 stealth fighter program has <a target="_blank" href="https://www.businessinsider.com/us-f-35-stealth-fighters-to-fly-less-costs-soar-2024-4">become more expensive</a>, with expected lifetime costs topping $2 trillion, even with the aircraft flying less often than in the past.The defense industry, like the military, has also been called to account. Major shipbuilding projects, for example, are severely delayed. Coming off problems with the Zumwalt-class destroyers, first-in-class USS Gerald R. Ford, and the Littoral Combat Ship, new constructions like the next Ford-class carrier, Constellation-class frigate, and Columbia-class submarine are, in some cases, <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-grappling-with-another-ford-class-supercarrier-delay-2024-4">years behind schedule</a>. This is a concern as the US military aims to <a target="_blank" class="" href="https://www.businessinsider.com/america-not-ready-china-war-military-economy-2023-5">maintain its edge</a> against its "pacing challenge" China.Separately, DoD has faced criticism over use-it-or-lose-it spending toward the end of the fiscal year, overpayment for common products, and seven consecutive failed audits of the department's $4.1 trillion in assets and $4.3 trillion in liabilities.To tackle the contracting conundrum and save money, Mike Gallagher, a former Republican congressman from Wisconsin and the current head of defense at Palantir Technologies, suggested in a Wall Street Journal <a target="_blank" href="https://www.wsj.com/opinion/two-years-to-prevent-world-war-iii-trump-sec-def-needs-to-overhaul-bureaucracy-cut-waste-c9a162d8?mod=opinion_lead_pos5">op-ed</a> this week that the incoming Pentagon leadership should enforce fixed-price contracting to put more burden on private contractors rather than the US government."The Defense Department's cost-plus contracting model has destroyed competition and innovation while exploding costs," Gallagher wrote, adding that the defense secretary should be required to sign off on cost-plus contracts.Musk's new initiative could recommend exactly this: a move away from cost-plus contracts toward fixed-price contracts.<div type="image" title="The aircraft carrier USS Gerald R. Ford at Newport News Shipbuilding in Virginia in April 2016." height="2475" width="3841" msid="115359367" hostid="261" sizebytes="649290"></div>But fixed-price contracting may have its own set of problems. Bryan McGrath, a retired naval officer and the managing director of The FerryBridge Group LLC, responded to Gallagher's article <a target="_blank" href="https://x.com/conswahoo/status/1857138300307624153?s=46">on social media</a>, saying private companies shouldn't have to face all the costs for systems that only the US government wants to buy.Todd Harrison, a senior fellow at the American Enterprise Institute who focuses on defense strategy and budgeting, said switching from cost-plus to fixed-price contracting doesn't necessarily save the government money. It also doesn't necessarily produce more effective systems designed to withstand combat or decades of use."What it does is, by moving the risk to industry, it creates more stability for government and what they're going to pay for things," he told BI, adding that "it puts better incentives on industry, because if industry has a cost overrun, they pay for it — it's coming out of their profit. If they can deliver below cost that they expected, they can make more money. So it really just changes the incentives."Harrison said that there had already been a shift toward firm-fixed-price contracts, which tends to advantage smaller and newer defense companies — a trend he expects will accelerate during the Trump administration. But there are some areas where cost-plus contracts are sure to continue.Shipbuilding, especially for projects like aircraft carriers and nuclear-powered submarines, is often arranged with large, multi-year contracts. This is because there may be only one company that can build the system, with one buyer (the Pentagon), and the product is unique to the US military.<div type="image" title="A digital rendering of the Constellation-class frigate." height="869" width="1876" msid="115359361" hostid="261" sizebytes="144122"></div>"In those areas of the defense-industrial base," Harrison said, "you have to manage it more like a public utility, where the free market does not exist, and free market principles do not work."<h2 id="719bae83-1982-40bc-bd4e-defb6b11920c">More efficient programs</h2>Mid-development changes to weapons systems designs are a major cost driver. To tackle this, the government could fix requirements for these systems early in the design process and enforce stricter rules around changes."One way that we know saves money is if you fix a design and don't add features," Michael Bohnert, a licensed engineer at the RAND Corporation, told BI.Today's F-35, for example, is "almost a different plane" than what was defined in its original requirements. Changes in scope have added costs. "You look at other programs that have been pretty narrowly defined — they've stayed in budget," he said.Archer Macy, a retired Navy admiral and missile defense expert at CSIS, told BI there's a history of abusing contracts where there's too much fluidity with requirements and specifications, making them vulnerable to changes.He said the government needs to find the "right type of contract for the right purpose (where you are in the development and acquisition cycle), stick to and don't abuse requirements and specs, and make people accountable."<div type="image" title="Aerial view of the Pentagon" height="3598" width="5396" msid="115359368" hostid="261" sizebytes="1410730"></div>Musk's new initiative may target other areas of Pentagon spending, as well.He could consider reducing the Pentagon's large civilian workforce and officer corps, for example, or crack down on instances like the US Air Force paying more than <a target="_blank" href="https://www.businessinsider.com/us-air-force-wildly-overpaid-c-17-bathroom-soap-dispenser-2024-10">80 times the regular commercial value</a> for bathroom soap dispensers for its C-17 aircraft.Overall, experts warned against any changes that could harm US warfighting capabilities or compel companies to cut corners and deliver substandard weapons systems."However well-intentioned, the reach for efficiency could also undercut your military effectiveness, and you got to keep that in balance," John Harvey Jr., a retired Navy admiral, told BI.In fact, some members of Congress think the US should spend even more on defense. Mississippi Sen. Roger Wicker, the highest-ranking Republican on the Senate Armed Services Committee, <a target="_blank" class="" href="https://www.wicker.senate.gov/2024/5/senator-wicker-unveils-major-defense-investment-plan">warned earlier this year</a> that the country's defense investment is not sufficient to counter America's adversaries."Our defense industrial base is underfunded and unprepared for the wars of today, tomorrow, and the foreseeable future," his office said in May.

Elon Musk is looking for trillions in government waste, and defense is a massive potential target

For God, for country, for rain

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Hello there! Already thinking about holiday shopping? Maybe this Apple coffee-table book could be good for the music lover in your life. Be warned: It's not cheap, and <a target="_blank" href="https://www.businessinsider.com/apple-coffee-table-book-top-100-music-albums-list-2024-11">there won't be a ton of them made</a>.In today's big story, Saudi Arabia's futuristic city, which is part of its big modernization plans, <a target="_blank" href="https://www.businessinsider.com/neom-saudi-arabia-parts-ways-with-boss-desert-megacity-2024-11">just got another reality check</a>.What's on deck:<ul><li>Markets: Goldman Sachs' newest partners <a target="_blank" href="https://www.businessinsider.com/goldman-sachs-partner-promotions-how-they-celebrated-2024-11">told us how they celebrated the news</a>.</li><li>Tech: IBM + AWS (Nvidia chips) = <a target="_blank" href="https://www.businessinsider.com/aws-negotiating-huge-cloud-deal-supply-ibm-with-nvidia-gpus-2024-11">a huge potential deal</a>.</li><li>Business: Donald Trump appoints Elon Musk to help lead the <a target="_blank" rel="noopener" href="https://www.businessinsider.com/trump-elon-musk-vivek-ramaswamy-department-government-efficiency-doge-2024-11">new Department of Government Efficiency</a> with Vivek Ramaswamy.</li><li>But first, it's not all going according to plan.</li></ul>If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">A broken vision</h2><div type="image" title="A conceptual image of the planned design for The Line in Saudi Arabia's Neom, shows a large mirrored facade extending out into the water from the desert." height="1080" width="1920" msid="115261958" hostid="261" sizebytes="248100"></div>Saudi Arabia's dreams of the future are facing the realities of the present.The CEO of the Kingdom's futuristic city, Neom, <a target="_blank" href="https://www.businessinsider.com/neom-saudi-arabia-parts-ways-with-boss-desert-megacity-2024-11">abruptly stepped down after six years in the role</a>. It's another setback for the country's ambitious Vision 2030 plan to diversify its economy away from relying on oil and make it an attractive tourist destination.Neom is arguably the most high-profile portion of Crown Prince Mohammed bin Salman's plan. Even if you haven't been closely following the project, <a target="_blank" href="https://www.businessinsider.com/neom-saudi-arabia-quirky-features-swim-lanes-ai-robot-clerks-2024-5">you've likely seen mockups of the twin mirrored skyscrapers</a> dubbed "The Line" that look like a massive wall running through the desert.But Neom is having an "Instagram vs. reality" moment … literally. Influencers and vloggers who posted videos of their lives in the yet-to-be-completed city <a target="_blank" href="https://www.businessinsider.com/influencer-posts-life-saudi-city-neom-not-glamorous-2024-9">were mostly mocked</a> in what one viewer described as having "low security prison vibes."Grand plans also don't come cheap. Estimates for Neom have swelled to as much as $1.5 trillion. Saudi has already invested $1.3 trillion in the wider Vision 2030 project.Foreign investments in the plan haven't panned out the way Saudi hoped either, leading the Kingdom to look to China for help with the bill. The move is part of the <a target="_blank" href="https://www.businessinsider.com/china-saudi-arabia-vision-2030-neom-tech-investing-oil-econom-2024-11">deepening financial ties between the two countries</a>, which poses a potential threat to the US.<div type="image" title="Infinity pool Neom" height="1152" width="2048" msid="115261961" hostid="261" sizebytes="158652"></div>Saudi Arabia's big plans also include tech's biggest prize: AI.The Kingdom has spent years investing billions in the tech, including the recent creation of a <a target="_blank" href="https://www.businessinsider.com/saudi-arabia-ai-groq-a16z-vision-2030-mbs-2024-9">$40 billion fund dedicated to AI investments</a>.But it's also looking to <a target="_blank" href="https://www.businessinsider.com/saudi-arabia-ai-hub-tech-investment-2024-11">develop the tech in its home country</a>, writes BI's Hasan Chowdhury. Saudi Arabia's approach to AI isn't unlike the role it plays as an energy giant: Provide the fuel others rely on to make their projects go."Project Transcendence" includes building all-important data centers in the country and serving as the Middle East AI hub for tech giants. AWS has already committed more than $5 billion to building data centers in the country.It's not alone, though. The United Arab Emirates is <a target="_blank" href="https://www.businessinsider.com/abu-dhabi-uae-ai-powerhouse-mgx-openai-investment-2024-10">aiming to be the AI leader in the region by 2031</a>.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li><a target="_blank" href="https://www.businessinsider.com/diddy-sean-combs-private-jet-available-charter-sex-trafficking-case-2024-11">Diddy's private jet</a> is available for rent amid his sex trafficking case.</li><li>Trump wins stay in hush-money case, <a target="_blank" href="https://www.businessinsider.com/trump-wins-stay-criminal-hush-money-case-2024-11">allowing him time to argue for its dismissal</a>.</li><li>Olivia Nuzzi <a target="_blank" href="https://www.businessinsider.com/olivia-nuzzi-withdraws-protective-order-against-ryan-lizza-rfk-f2024-11">withdraws protective order against Ryan Lizza</a> in aftermath of RFK Jr. relationship.</li><li>SoftBank is partnering with Nvidia to power an <a target="_blank" rel="noopener" href="https://www.businessinsider.com/softbank-nvidia-first-blackwell-chips-customer-huang-son-ai-supercomputer-2024-11">AI supercomputer in Japan</a>.</li><li>Taylor Swift's fans-first business strategy <a target="_blank" rel="noopener" href="https://www.businessinsider.com/taylor-swift-leann-rimes-concert-fan-loyalty-2024-11">began in her own fangirl days</a>.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-today-btc-90000-donald-trump-election-crypto-policies-2024-11">Bitcoin approaches $90,000</a> as post-election record streak rages on.</li><li>Apple Vision Pro's killer app is actually <a target="_blank" href="https://www.businessinsider.com/apple-vision-pro-killer-app-2024-11">just working on your laptop</a>?</li><li>This map shows how young Americans are <a target="_blank" rel="noopener noreferrer" href="https://l.businessinsider.com/a/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=07fda258e0bc460c8694aed78b1aa74d&amp;_e=cNzM3MDu-tRH4Hxe6UMoLJCcxG4HzzAaSmuTWGQNUtMA_nzjVjo7fu4JPuOaZdXnRfJNer34Z7N06liv1sKXGIH1k8A4edQAhuP16-LAruvhGI8I6PsSCUl_hRqvJv1AQszMSKOfoN4Gn2XCBJrhLrFFepplbn2BzpQup6l124GViBTL6pllAZ7jeS7wMuuobYZlhjXWL9N-uCoNkPZtx6JrdfYqaCllNEfQ9y5TnUfAkGBTZuuw8UqgAr6h2GFjC41U5oSeSCTfFnhxtmlHmkW_SZQdLOCT3ro-ciZZDea7tF10PUX7P9TclZO-a28bZ4R_HVKrD3bzlVi4qk59cVFQ34JWOCRZMju-Pl7GkDcf7QMV1ldxz_cauXs9BLwSKGFQ8Sdiq1Vqf9Xf631ZtIvGfwRolGzQ9xT7ceUAjI3sqPzkL2Mk5g11h955VD_n87R06dPh1ZQwjri5UwR41bjSaMntJwnSrygD0i4wSnHg7tj-W5tjauYaFeBwRZ2H">flocking to smaller towns</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Photo illustration of Cathie Wood" height="1875" width="2500" msid="115261960" hostid="261" sizebytes="294662"></div><div type="image" title="Dice with the faces of Trump, Musk, RFK, and Zelensky" height="1500" width="2000" msid="115261965" hostid="261" sizebytes="103426"></div><ol><li>Cathie Wood's next big bet is on shaking up the VC market. The investor previously grabbed attention for making bold calls on tech stocks that generated returns that boomed or busted. One of the key executives behind her venture capital strategy <a target="_blank" href="https://www.businessinsider.com/ark-venture-fund-cathie-wood-ai-2024-10">detailed the firm's approach to getting in on high-growth startups</a>.</li><li>Goldman Sachs' newest royalty shares how they celebrated the career milestone. The bank announced its largest partner class — 95 people — under CEO David Solomon. Nine new members of the group described their reactions to BI, from quiet reflection to jubilant celebrations with their team. Here's how they celebrated, <a target="_blank" href="https://www.businessinsider.com/goldman-sachs-partner-promotions-how-they-celebrated-2024-11">in their own words</a>.</li><li>Trump's big plans for the oil industry might not be possible. ExxonMobil CEO Darren Woods said the market is well supplied with oil and <a target="_blank" href="https://www.businessinsider.com/trump-lower-gas-prices-exxonmobil-ceo-oil-boom-2024-11">there's not much of an opportunity to up production in the near term</a>. Energy analysts also said oil majors are focused on returning money to shareholders rather than investing in projects that'll boost production.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="A Make America Great Again hat draped over a computer" height="1500" width="2000" msid="115261964" hostid="261" sizebytes="329030"></div><ol><li>Silicon Valley's getting redder, and it's not just the billionaire backers. In the three Bay Area counties that make up the epicenter of America's tech hub, Donald Trump made small but significant gains with voters. Though the valley is still a long way from a Republican majority, <a target="_blank" href="https://www.businessinsider.com/silicon-valley-swing-toward-trump-voting-data-2024-11">the data shows a clear shift toward Trump</a> over the past three elections.</li><li>A chip match made in heaven. Amazon Web Services is negotiating <a target="_blank" href="https://www.businessinsider.com/aws-negotiating-huge-cloud-deal-supply-ibm-with-nvidia-gpus-2024-11">a huge deal to supply IBM with Nvidia GPUs via its cloud</a>, according to an internal document obtained by BI. The potential deal could expand the partnership between IBM and AWS in the AI space.</li><li>Intel is struggling to become America's chipmaking powerhouse. US officials are counting on Intel to lead the country's chip manufacturing resistance. Strategic missteps, layoffs, and the company's worst quarter ever contributed to <a target="_blank" href="https://www.businessinsider.com/intel-chip-troubles-problem-us-economy-domestic-production-chips-act-2024-11">a perfect storm that slowed progress</a>.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="Elon Musk on Trump/Vance platform cheering" height="4240" width="6376" msid="115261966" hostid="261" sizebytes="747846"></div><ol><li>It's official: Elon Musk has a role in Trump's future administration. Musk and businessman Vivek Ramaswamy are set to <a target="_blank" rel="noopener" href="https://www.businessinsider.com/trump-elon-musk-vivek-ramaswamy-department-government-efficiency-doge-2024-11">lead a new Department of Government Efficiency — "DOGE" — under the president-elect</a>. In a statement on Tuesday, Trump said Musk and Ramaswamy "will pave the way for my Administration to dismantle the Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies."</li><li>TikTok ramped up hiring of Chinese employees even amid national security concerns. According to US Immigration Services data, TikTok and its owner ByteDance <a target="_blank" href="https://www.businessinsider.com/tiktok-ramped-up-hiring-chinese-employees-amid-us-political-scrutiny-2024-11">hired more than 600 Chinese staff on US H-1B visas in 2023</a>, a 50% increase from the previous year. The new hires came as members of Congress worried the platform could be compelled to hand over US user data to the Chinese government.</li><li>Not For Sale: new homes. America has the most new homes since 2009, but good luck trying to buy one. Both builders and buyers find themselves in a tricky position, and the demand for rentals is strong. That means a sizable chunk of America's home supply may never be sold to prospective homeowners — <a target="_blank" href="https://www.businessinsider.com/homebuilders-new-construction-rental-homes-investors-price-cuts-mortgage-rates-2024-11">and some opportunistic investors are about to win big</a>.</li></ol><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>President Joe Biden hosts President-elect Donald Trump at the White House.</li><li>US Supreme Court hears Nvidia securities fraud pleading standard case.</li><li>Bureau of Labor Statistics releases CPI data for October.</li><li>Senate Republicans hold vote to select new majority leader.</li><li>Cisco and other companies report earnings.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Grace Lett, editor, in Chicago. Ella Hopkins, associate editor, in London. Hallam Bullock, senior editor, in London. Amanda Yen, fellow, in New York. Milan Sehmbi, fellow, in London.

Saudi Arabia's futuristic city just faced another setback, but the country still has its eyes on being an AI leader

<ul class="summary-list"><li>Russian President Vladimir Putin is meeting leaders from China, India, Vietnam, and Indonesia amid heavy sanctions.</li><li>Russia seeks to end diplomatic isolation by engaging with "swing nations" beyond autocratic allies.</li></ul>Russian President Vladimir Putin is having a very social year as his country continues to wage war in Ukraine.So far, Putin has met top leaders from Asian countries including <a target="_blank" class="" href="https://www.businessinsider.com/putin-bromance-xi-jinping-display-china-remains-wary-russia-2024-5">China,</a> <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-india-modi-putin-hug-west-isolation-big-blow-2024-7">India,</a> <a target="_blank" class="" href="https://www.businessinsider.com/vietnam-russia-putin-visit-us-wary-manufacturing-supply-chain-diplomacy-2024-6">Vietnam,</a> and <a target="_blank" class="" href="http://en.kremlin.ru/events/president/news/74678">Indonesia.</a> That's plenty of publicity for a heavily sanctioned individual from a country facing sweeping trade restrictions.And there's a strategic reason for all those meetings, Sean McFate, an adjunct professor at the Syracuse University Maxwell School of Citizenship and Public Affairs, told Business Insider.Russia is trying to emerge from diplomatic isolation and is looking to forge strategic relationships beyond autocratic partners like China, North Korea, and Iran, McFate said."Putin is eyeing strategic swing nations like India, which opposes China and trades with Russia," he added. "That gives Russia some advantage over China, as their relationship has chilled somewhat."On Wednesday, Putin rubbed shoulders with <a target="_blank" class="" href="https://www.bernama.com/en/news.php?id=2336886">Malaysian Prime Minister</a> Anwar Ibrahim in Russia. The two countries were set to discuss a range of issues, including trade and investment.This meeting came on the heels of Putin's trip to <a target="_blank" class="" href="https://www.businessinsider.com/mongolia-explained-oil-why-didnt-arrest-putin-2024-9">Mongolia,</a> where he met President Ukhnaagiin Khürelsükh.Mongolia, as a member of the International Criminal Court, should have <a target="_blank" class="" href="https://www.businessinsider.com/putin-visiting-mongolia-icc-arrest-warrant-could-arrest-unlikely-expert-2024-8">arrested Putin,</a> who has an ICC arrest warrant against him.But the East Asian nation said it couldn't throw Putin in jail because it depends on Russia — an oil and gas giant — for its energy security."This supply is critical to ensure our existence and that of our people," a Mongolian government spokesperson told <a target="_blank" class="" href="https://www.politico.eu/article/mongolia-failure-arrest-vladimir-putin-international-warrant-international-criminal-court/">Politico.</a><h2 id="f0d1f4e5-36a9-4e82-ba4c-d30ab06a9d6a">It's about neutrality — and the economy</h2>Mongolia's explanation underscores the scale of Russia's economy. It's the 11th largest in the world and has an annual GDP of about $2 trillion, according to the <a target="_blank" class="" href="https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?most_recent_value_desc=true">World Bank.</a>While Russia's economy pales in comparison to the US' $27.4 trillion GDP, Russia is still an important partner for many developing economies.In particular, <a target="_blank" class="" href="https://www.eia.gov/tools/faqs/faq.php?id=709&amp;t=6.">Russia</a> accounts for about one-tenth of the world's oil production, making it an important resource supplier.Before its full-scale invasion of Ukraine, Russia's single largest trading partner was the European Union.In the last two years, Russia has managed to pivot to supplying <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-divert-oil-exports-europe-india-china-circumvent-sanctions-2023-12">China and India,</a> as well as nearly anyone who wants to buy discounted energy, be it <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/sri-lanka-source-crude-oil-imports-russia-sanctions-fuel-shortage-2022-10">Sri Lanka</a> when it was in an economic meltdown just two years ago or <a target="_blank" class="" href="https://www.reuters.com/business/energy/turkey-saves-2-bln-russian-oil-imports-soar-despite-sanctions-2023-12-18/">Turkey</a> — a NATO member and aspiring EU member.While some countries, like China and Vietnam, have historical ties with Russia, others, like India and Sri Lanka, have also cited economic self-interest for their ongoing relationship with Russia — particularly if they're in difficult conditions themselves. Most, if not all of them, have also taken a neutral position on the war in Ukraine.Serik Zhumangarin, Kazakhstan's deputy prime minister, told <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-08-16/kazakhstan-will-not-blindly-follow-sanctions-on-russia-official-says">Bloomberg</a> last month that the country would no longer "blindly follow the sanctions" if the restrictions impact the country's key companies. Russia was Kazakhstan's largest trade partner before the war started.He told the media outlet that some of the sanctions against Moscow had hurt Kazakhstan more than Russia, and the West has done nothing to compensate the Central Asian nation.Using the economy to explain cozy diplomatic relationships with Russia appears to be gaining favor now that the Ukraine war is in its 31st month.After all, Russia is a <a target="_blank" class="" href="https://www.businessinsider.com/russia-resilience-sanctions-costly-unattainable-isolate-large-globally-integrated-economy-2024-2">large and globally integrated economy</a> that even the <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-lng-natural-gas-exports-europe-price-asia-2024-8">European Union</a> is still trying to decouple from.Even China, which in 2022 declared its friendship with Russia as a partnership with "no limits," now appears to be more keen on presenting the relationship in more pragmatic, businesslike terms.Just last month, <a target="_blank" class="" href="https://www.fmprc.gov.cn/chn/gxh/tyb/zyxw/202408/t20240821_11477597.html">China framed</a> Vice Premier Li Qiang's visit to Russia as one that seeks "complementary advantages and huge potential for practical cooperation" between Moscow and Beijing.<h2 id="1d83462f-51a7-4e76-82db-0f7f3244cb44">Russia is wooing the Global South</h2>Partnering with Russia on economic terms is unlikely to alarm the US and Europe, even if there are <a target="_blank" class="" href="https://www.state.gov/briefings/department-press-briefing-july-8-2024/">concerns</a> and <a target="_blank" class="" href="https://www.reuters.com/world/asia-pacific/us-rebukes-vietnam-ahead-expected-visit-by-russias-putin-2024-06-17/">strong criticism.</a>"Russia's foreign policy blitz is unlikely to be a threat to the EU and NATO," Syracuse University's McFate said.That's because Moscow is not making military alliances with partner countries to attack Europe, which views Russia as its top threat, he said. For the US, Russia is a distant second after China.Even so, there still may be changes afoot.Moscow is pushing a narrative of the Global South as a force in shaping an alternative world order, with the emerging nations of <a target="_blank" class="" href="https://www.businessinsider.com/brics-summit-countries-interested-brazil-russia-india-china-south-africa-2023-8">BRICS</a> — anchored by Brazil, Russia, India, China, and South Africa — forming an economic bloc.Russia is the BRICS chair this year, and Putin has invited Mongolia to join the group's summit in October. Malaysia applied to join the group, and <a target="_blank" class="" href="https://en.antaranews.com/amp/news/324871/joining-brics-based-on-president-elect-prabowos-decision-minister">Indonesia</a> is also considering an invitation to join the bloc. <a target="_blank" class="" href="https://www.reuters.com/world/middle-east/no-concrete-step-turkey-brics-membership-erdogans-party-says-2024-09-03/">Turkey</a> has also said it's interested in joining the group. "Indonesia, Malaysia, and Mongolia are an interesting test of those nations' 'neutrality' toward China, the US, international law (e.g., ICC), and the authority of the United Nations system," McFate said.Russia's push for a multipolar world order resonates with countries who desire a more equitable international order. And Moscow has shown it does have influence over lower- and middle-income countries, as evidenced by the non-participation or low-level participation of some Asian countries in June's Ukraine peace summit in Switzerland, Derek Grossman, a senior defense analyst at RAND, a think tank, wrote in a July <a target="_blank" class="" href="https://www.rand.org/pubs/commentary/2024/07/russia-is-a-strategic-spoiler-in-the-indo-pacific.html">commentary</a> for Foreign Policy."While Russia's sway is not at the level of China's or the United States', it is certainly enough to promote its anti-Western interests and disrupt the already precarious regional order," wrote Grossman.Countries around the world are weighing the dynamics."Regional allies will watch with interest to see if great powers can be played off each other," McFate said.

More countries are openly flaunting their ties with Putin. They say it's just business. 

<keyword id="23188764" type="General" weightage="100" keywordseo="World-Tourism-Day-2024" source="Orion">World Tourism Day 2024</keyword> is celebrated every year on September 27 to show how important tourism is for the world. It focuses on how tourism helps bring people together, supports the economy, and shares cultures. This year <keyword id="22517201" type="General" weightage="20" keywordseo="World-Tourism-Day" source="keywords">World Tourism Day</keyword> is focusing on the connection between tourism and world peace. The United Nations is highlighting the importance of understanding different cultures and promoting sustainable tourism. <h2>History of World Tourism Day</h2>World Tourism Day has been celebrated on September 27 since 1980. This date marks the anniversary of when the Statutes of the UN's tourism organisation were adopted in 1970, an important step for global tourism. The timing of the day is perfect as it falls at the end of the busy travel season in the northern hemisphere and the start of the season in the southern hemisphere. In October 1997, the <keyword id="19949373" type="General" weightage="20" keywordseo="UNWTO" source="keywords" meta.keywordsubtype="org" meta.entityname="UNWTO" meta.hostid="261" meta.entityid="UNWTO">UNWTO</keyword> decided to have a different host country each year to partner in celebrating World Tourism Day. This day is important for raising awareness of how tourism affects social, cultural, political, and economic values around the world. <h2>Host country for this year</h2>In 2024, Georgia, a country known for its rich history, culture, and beautiful landscapes, will host World Tourism Day. Located between Eastern Europe and Western Asia, Georgia offers a unique mix of cultures. It is famous for its ancient churches, wine regions, and stunning mountains. Tourism in Georgia has been growing quickly, drawing millions of visitors from around the world. With its scenic beauty, Georgia is the ideal place to showcase how tourism promotes peace and cultural exchange. <h2>Theme for this year</h2>The theme for World Tourism Day 2024 is "<keyword id="23301034" type="General" weightage="20" keywordseo="Tourism-and-Peace" source="keywords">Tourism and Peace</keyword>." Tourism plays an important role in promoting peace by bringing people from different cultures together and helping the economies of host countries. As people travel and experience new cultures, it leads to more understanding and tolerance. Tourism can break down barriers and build strong connections between nations. It also helps local communities by creating jobs and encouraging sustainable practices, which supports peace and prosperity in the long run. <h2>Indian Government initiatives to promote tourism</h2>The Indian government is working to improve tourism with several initiatives and schemes. Some key efforts include: E-Visa Facility: Nationals from 167 countries can now apply for e-visas online under seven categories, like e-Tourist and e-Business visas. The fees have been lowered to make travel more affordable. Swadesh Darshan Scheme: Started in 2014-15, this scheme creates theme-based tourist circuits across India. By 2023-24, 73 projects have been completed, with a total investment of ₹5,294.11 crore. Swadesh Darshan 2.0: This updated scheme focuses on developing 57 destinations across 32 states and Union Territories for integrated tourism development. PRASHAD Scheme: Aimed at improving infrastructure at pilgrimage sites, 46 projects have been approved so far, with ₹1,621.13 crore set aside for their development. SEE ALSO: <a href="https://www.businessinsider.in/travel/international/webstories/world-tourism-day-2024-exploring-the-10-most-peaceful-countries-on-earth/slidelist/113590691.cms" data-type="tilCustomLink" target="_blank">World Tourism Day 2024: Exploring the 10 most peaceful countries on Earth</a>

World Tourism Day 2024: All about the theme, host country, and tourism-boosting initiatives

Hitting a hattrick of 6’s to dazzle the crowd hasn’t been the only cool thing <keyword id="6354832" type="General" weightage="20" keywordseo="MS-dhoni" source="Orion">MS Dhoni</keyword> has been up to of late. The Indian cricketing legend continues to make waves off the pitch in many ways, one of which involves investing in interesting and impactful <keyword id="20067715" type="General" weightage="20" keywordseo="start-up" source="keywords">start-up</keyword> projects. His latest venture involves an undisclosed investment in <keyword id="20656950" type="General" weightage="20" keywordseo="electric-cycle" source="keywords">electric cycle</keyword> manufacturer <keyword id="20835176" type="General" weightage="20" keywordseo="EMotorad" source="keywords" meta.keywordsubtype="org" meta.entityname="EMotorad" meta.hostid="261" meta.entityid="EMotorad">EMotorad</keyword>. In addition to his financial backing, <keyword id="19896463" type="General" weightage="100" keywordseo="Dhoni" source="keywords">Dhoni</keyword> is set to serve as the <keyword id="21321553" type="General" weightage="20" keywordseo="brand-endorser" source="keywords">brand endorser</keyword> for the company, further solidifying his role in shaping its future direction. Expressing his excitement for this venture, Dhoni commented: “The future is in our hands. We are in an era where innovation plays a huge role in shaping sustainable solutions, and I’m a fan of new-age companies that build these. EMotorad stands at the forefront of shaping the future of mobility, and I am thrilled to be a part of this journey!” <keyword id="20835175" type="General" weightage="20" keywordseo="Kunal-Gupta" source="keywords">Kunal Gupta</keyword>, founder and chief executive of EMotorad, expressed confidence that MS Dhoni's association with the brand will significantly boost awareness and trust in the e-biking sector. He told ET: “There is no one better and more reliable than Dhoni who resonates with what our brand stands for, an avid biker himself.” <div type="twitter" handle="e_motorad" handlename="e_motorad" favoritecount="0" retweetcount="0" id="1776119471704608843"></div> This Pune-based startup now joins a growing list of startups that are part of Dhoni's diverse portfolio, which includes ventures spanning various sectors such as fitness, technology, automotive and digital solutions. As per The Economic Times, notable among his investments are Bengaluru-based fitness startup Tagda Raho, digital lending platform Khatabook, and Gurugram-based used car retailer Cars24. Founded in 2020 by Kunal Gupta, Rajib Gangopadhyay, Aditya Oza and Sumedh Battewar, EMotorad has rapidly gained traction in the Indian e-cycle market, capturing a 65% share. With a focus on cutting-edge technology and strategic partnerships, the company aims to revolutionise transportation by offering high-quality and value-driven solutions. Back in November 2023, EMotorad demonstrated its growth potential by securing substantial funding worth Rs 164 crore in a Series B round led by Panthera Growth Partners. It has raised a total of $20 million in equity thus far. The company boasts a network of more than 350 dealers nationwide, along with over 10 experience centres. Despite its strong foundation in India, its reach spans across eight countries, demonstrating its global presence and influence. Offline dominance aside, EMotorad also leverages online platforms to reach a wider audience, including e-commerce giants like Amazon and Flipkart. In the fiscal year ending March 2024, EMotorad reported sales of Rs 140 crore, a notable increase from Rs 115 crore the previous year. Looking ahead to FY25, the company targets sales of Rs 270 crore, with approximately Rs 130 crore stemming from domestic markets and the remainder anticipated from regions like the US and Europe. With plans underway for a new factory and the development of innovative e-cycle designs, EMotorad is poised for further expansion. By diversifying its product range, expanding its market reach, and now partnering with one of the most beloved sporting figures in the country, the company is fully committed to solidifying its position as a leader in the evolving mobility landscape. (With inputs from The Economic Times)

Dhoni goes electric: Former team India captain invests in affordable e-bike start-up EMotorad

<ul><li>The <keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani Group</keyword> is looking to foray into the <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> and payments segments in India.</li><li><keyword id="19929098" type="General" weightage="100" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> is India’s second richest man, with just <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> ahead of him.</li><li><keyword id="19898586" type="General" weightage="20" keywordseo="adani" source="keywords">Adani</keyword> Group is reportedly planning on offering <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword> and e-commerce services through the Adani One app.</li></ul> Gautam Adani-led Adani Group has a diverse portfolio, from ports to energy and more. The conglomerate is now reportedly looking to enter the e-commerce and payments segments as the group diversifies. According to a report by Financial Times, the Adani Group is in talks to enter the e-commerce and payments segments as it wants to expand its digital business to take on Mukesh Ambani’s <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> and Google in India. While the Adani Group has a stake in several businesses, it has yet to make its presence felt in consumer-facing segments. <cmsannotation type="cmsannotation" annotationid="Talks on for payments license, credit card" comment="subhead" text="Talks on for payments license, credit card">Talks on for payments license, credit card</cmsannotation> The Adani Group is reportedly considering applying for a license to operate on the country’s public digital payments network, the Unified Payments Interface (UPI). The group is also in talks with banks to offer a co-branded Adani credit card to its customers. <cmsannotation type="cmsannotation" annotationid="Push for ONDC" comment="subhead" text="Push for ONDC">Push for <keyword id="19987599" type="General" weightage="20" keywordseo="ONDC" source="keywords">ONDC</keyword></cmsannotation> The Adani Group is also reported to be in negotiations to enter the e-commerce segment through the government-backed Open Network for Digital Commerce (ONDC). With ONDC’s interoperable networks, companies do not have to invest in developing their own e-commerce platforms or payment systems. The ONDC services will reportedly be available on the company’s Adani One app, which was launched in 2022. The Adani One app currently offers travel services such as flight and hotel bookings. The services will initially be aimed at the company’s gas and electricity customers, offering them incentives to use their app in the form of cashback and discounts. <cmsannotation type="cmsannotation" annotationid="To take on Mukesh Ambani" comment="subhead" text="To take on Mukesh Ambani">To take on Mukesh Ambani</cmsannotation> Mukesh Ambani and Gautam Adani, who are the top two<a href="https://www.businessinsider.in/india/news/top-25-richest-people-in-india-in-2024/articleshow/110149894.cms"> richest people in India</a> have been competing for the top spot, with Adani occupying the top spot for a while. Gautam Adani’s net worth took a hit after a sharp decline in Adani Group shares during the Hindenburg saga. US-based research firm Hindenburg had released a report on the Gautam Adani-owned companies in late January in 2023, alleging stock manipulation among others. Adani Group’s<a href="https://www.businessinsider.in/business/corporates/news/gautam-adani-beats-mukesh-ambani-to-become-indias-richest-man/articleshow/106564235.cms"> shares rallied</a> after the country’s Apex Court passed a<a href="https://www.businessinsider.in/stock-market/news/adani-hindenburg-sc-verdict-sees-pack-rally-with-adani-energy-solutions-in-the-lead/articleshow/106505824.cms"> verdict</a> in favour of the group. Adani even went on to emerge as India’s richest man by adding $7.67 billion to his net worth in a short span. While Mukesh Ambani reclaimed the top spot, the gap is once again narrowing. According to the Bloomberg Billionaire’s Index, Gautam Adani’s net worth has now surged to $109 billion, just behind Mukesh Ambani who is valued at $114 billion, bringing down the gap to $5 billion. In the last year, Adani’s wealth has surged by $25 billion, while Ambani’s wealth has surged by $17.3 billion. Despite this surge, Adani’s wealth is yet to reach its peak of $119 billion. Adani’s new ventures will take on Mukesh Ambani’s JioMart and JioFinance, which is expected to soon begin offering payment services. Additionally, it will also take on Google Pay, one of India’s most popular UPI platforms. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/jiocinema-launches-new-annual-ad-free-subscription-plan-at-a-discount/articleshow/110486706.cms">JioCinema launches new annual ad-free subscription plan at a discount</a> <a href="https://www.businessinsider.in/sports/webstories/ipl-2024-award-winners-orange-cap-to-emerging-player-of-the-season-here-are-the-winners/slidelist/110454525.cms">IPL 2024 award winners – Orange cap to emerging player of the season, here are the winners</a> <a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms">Awfis Space Solutions IPO allotment – How to check allotment, GMP, listing date and more</a>

Adani Group could soon enter e-commerce and UPI segments, to rival Mukesh Ambani and Google

<ul class="summary-list"><li>Russian President Vladimir Putin praised and touted ties with China right after his election victory.</li><li>Russia is increasingly turning toward China as an alternative market for its sanctions-hit economy.</li></ul>Fresh out of a carefully engineered <a target="_blank" href="https://www.businessinsider.com/russia-vladimir-putin-presidential-election-vote-landslide-win-2024-3">presidential-election victory</a> on Monday, Russian President Vladimir Putin wasted no time getting on Beijing's good side."China is developing at a rapid pace, with great confidence. And, which is very important, the structure of China's economy is changing toward innovation," Putin said at his campaign headquarters on Monday, according to the state news agency <a target="_blank" href="https://tass.com/politics/1760943">TASS</a>."And we are trying to do the same at home. We are facing absolutely the same tasks in Russia," Putin added.He said Russia and China had "numerous points of convergence in economy and foreign policy."On Monday, China's leader, <a target="_blank" href="https://www.fmprc.gov.cn/zyxw/202403/t20240318_11262070.shtml">Xi Jinping</a>, congratulated Putin in turn, saying the Russian president's reelection "fully reflects the support of the Russian people."<a target="_blank" href="https://www.reuters.com/markets/china-russia-2023-trade-value-hits-record-high-240-bln-chinese-customs-2024-01-12/">Dollar-denominated trade</a> between the two countries climbed 26% from <a target="_blank" rel="" href="https://markets.businessinsider.com/news/currencies/china-russia-trade-190-billion-western-sanctions-oil-price-cap-2023-1">$190 billion</a> in 2022 to a record $240 billion in 2023, according to official data.Europe was traditionally Russia's largest single market. But after being hit by sweeping Western sanctions over the war in Ukraine, Moscow has pivoted its economy toward <a target="_blank" href="https://www.businessinsider.com/russia-economy-building-trade-route-train-rail-india-iran-2024-3">alternative markets</a> including China, India, and Iran to keep its economy humming.<h2>Putin affirmed China's claims about Taiwan</h2>Beijing and Moscow declared their "no limits" friendship in a <a target="_blank" rel=" nofollow" href="https://www.gov.cn/xinwen/2022-02/04/content_5672025.htm">joint statement</a> on February 4, 2022, when Russian President Vladimir Putin visited China for the Beijing Winter Olympics.Even though the two countries already appear cozy, Putin tried to score extra points with China during the press conference on Monday by affirming Beijing's claim that self-ruled <a target="_blank" href="https://twitter.com/SputnikInt/status/1769479667092729953">Taiwan is a part of China</a>.At a regular press briefing that day, a spokesperson for China's foreign ministry said, "China highly commends President Putin's statement."Taiwan's foreign-affairs ministry slammed Putin's support for China's position, saying in a statement on Monday that the <a target="_blank" href="https://www.mofa.gov.tw/News_Content.aspx?n=95&amp;sms=73&amp;s=116788">Chinese Communist Party has never ruled democratic Taiwan</a>.The island also took a swipe at Putin's election and its invasion of Ukraine."Putin in Russia pretends to be a democracy but actually acts as a dictatorship," Taiwan's foreign-affairs ministry said. "The election was held without opposition or opponents, and the election was forcibly held in the occupied territories that were originally Ukrainian territory, highlighting the violent nature of the dictatorship."

Putin wasted no time buttering up China after his election victory

<ul class="summary-list"><li>Ukraine is looking to build interceptor drones to hunt and take down Russian UAVs.</li><li>The drones would be attack platforms that would travel at fairly high speeds and relatively high altitudes.</li></ul>Ukraine is taking steps to develop an interceptor drone that can hunt and take down some of the enemy unmanned aerial vehicles that are buzzing over the battlefield.On Wednesday, Mykhailo Fedorov, Ukraine's minister of digital transformation, announced that the country wants to begin building interceptor drones to take down <a target="_blank" href="https://www.businessinsider.com/drone-footage-in-ukraine-twists-perception-of-the-war-shows-2023-12">Russia's surveillance UAVs</a>, specifically Orlan, SuperCam, and ZALA drones.On behalf of Brave1, a Ukrainian government-supported defense innovation operation, Fedorov requested help on his <a target="_blank" href="https://t.me/zedigital/4417">Telegram</a> channel from engineers to develop interceptor drones as an alternative to wasting valuable surface-to-air missiles to eliminate Russian UAVs.The interceptor, he said, needs to be able to fly up to 150 kilometers per hour and up to a height of up to 1,500 meters. It should also be able to receive preliminary information about a target, quickly take off and locate it, and then eliminate the enemy drone.This system, Fedorov explained, would give Ukraine a cheaper tool in its arsenal for destroying Russian unmanned reconnaissance aircraft functioning as "eyes for Russian artillery and strike drones," the latter being a reference to exploding FPV drones.Fedorov's call for help comes as Ukraine is running low on interceptor missiles for its air-defense systems and must conserve its supply to counter precision guided munitions, such as the Russian missiles regularly lobbed at its cities alongside one-way attack drones. Russia has ramped up both the intensity and frequency of its missile and drone air strikes in recent months.The<a target="_blank" href="https://www.businessinsider.com/russias-new-missile-attacks-target-ukraines-arms-makers-and-logistics-2024-1"> attacks</a> force Ukraine to limit air-defense coverage along the front lines and focus on civilian population centers. And with critical Western aid tied up in Congress and NATO often struggling to get weapons and assistance to Kyiv quickly, <a target="_blank" href="https://www.businessinsider.com/russia-trying-to-overrun-ukraine-with-upped-mechanized-assaults-isw-2024-4">the situation is increasingly dire</a>.The interceptor drones, as Fedorov suggested, are a cheaper option for shooting down drones and UAVs so that Ukraine can preserve its air defenses.<h2>Fighting the drone war</h2><div type="image" title="Exploding drones are ready to be shipped to the battlefield in Kyiv region, Ukraine." height="1667" width="2500" msid="109046409" hostid="261" sizebytes="324128"></div>Ukraine has long prioritized the development of drone systems, and these <a target="_blank" href="https://www.businessinsider.com/drones-watching-soldiers-shows-future-wars-scary-us-army-officer-2024-3">unmanned assets have played pivotal roles in the war</a> thus far.This also isn't the first time Ukraine has sought out the development of drones that can hunt and kill other drones, though it is different from previous efforts. The <a target="_blank" href="https://www.businessinsider.com/ukraine-army-of-drones-shahed-hunters-donation-push-2023-5">Shahed Hunter system</a>, an anti-drone defense system bought with funds from the UNITED24 crowdfunding platform, releases interceptor drones with heavy-duty nets to capture incoming enemy drones.Once the drone is caught, a parachute is released to slowly bring it down to the ground, avoiding explosions.In one video of the system in action, the English captions said: "The first 'Shahed Hunters' have already went hunting. These anti-drone systems can: detect enemy drones, jam GPS signals, intercept devices in the sky. Let the drone hunt begin!"At sea, Ukraine's fleet of naval drones have been <a target="_blank" href="https://www.businessinsider.com/russia-may-finally-take-black-sea-fleet-losses-seriously-ukraine-2024-3">relentless</a>, regularly damaging and even sinking Russian ships and shutting down freedom of movement in the area. In the skies, both Ukraine and Russia have been fighting an intense drone war, which has seen both sides relying on UAVs to collect information, conduct strikes on enemy positions, and surprise attack enemy forces. Robotic vehicles are also operating in the mix.And with all these drones moving about in the battlespace, there has also been drone-on-drone combat, most recently in a video of fighting near Avdiivka, where Ukrainian quadcopter drones <a target="_blank" href="https://www.businessinsider.com/video-ukrainian-quadcopter-blows-up-russian-robot-rare-drone-combat-2024-4">took out two Russian ground combat robots</a>. Now, Ukraine is seeking to build technology able to hunt a different kind of game.

Ukraine wants interceptor drones to take out unmanned surveillance aircraft and blind the Russians without wasting missiles

The Indian <keyword id="761780" type="General" weightage="20" keywordseo="e-commerce-market" source="Orion">e-commerce market</keyword> has experienced remarkable growth in recent years, driven by factors such as increased internet penetration, smartphone adoption, digital payments, and changing consumer behaviour. This growth has created opportunities for livelihoods and has been supported by the Micro, Small and Medium Enterprises (MSMEs) sector, which plays a crucial role in India’s economy. Contributing significantly to employment generation, economic growth, and poverty reduction, MSMEs hold immense potential. The <keyword id="44734" type="General" weightage="20" keywordseo="indian-government" source="Orion">Indian government</keyword>'s initiatives, such as "<keyword id="6354869" type="General" weightage="20" keywordseo="make-in-india" source="Orion">Make in India</keyword>" and "Startup India", and the ₹1,700-crore allocation in the budget for MSMEs’ digital infrastructure to fuel growth in these enterprises, have been in the right direction. In the grand scheme of India's retail fabric, <keyword id="35621" type="General" weightage="100" keywordseo="e-commerce" source="Orion">e-commerce</keyword> is only warming up. However, its potential to revolutionise how we buy and sell is an indisputable fact.The Emergence of E-commerce in India and the industry trendThe dawn of Internet accessibility fanned the flames for online trade in India. From books to electronics, gadgets to fashion wear — Indian consumers suddenly had a vast digital marketplace at their fingertips. Amid this e-commerce bull run, Flipkart emerged as a trustworthy platform for millions of customers that catered to the evolving demands of Indian consumers.With incessant tech advancements and evolving consumer behaviours, the e-commerce landscape is constantly shifting. Convenience, transparency, and personalisation will be major driving forces transforming how we buy and sell online.India’s <a href="https://www.bain.com/insights/how-india-shops-online-2022-report/">online shopper base</a> is estimated to increase to 400–450 million by 2027. 50 million new shoppers were added to the Indian e-retail market, which is ~35% growth over the online shopper base in 2020. New shoppers majorly belong to tier-3 or smaller cities and include Gen Z, a critical cohort that typically starts buying at entry price points. 3 out of 5 shoppers belong to tier-2 or smaller cities, 1 in 3 shoppers belong to low-to-middle income segments, and 1 in 3 shoppers is Gen-Z. Consumers now spend 20% more time per month on a retail platform vs last year.Flipkart’s impact on India’s e-commerce landscapeFlipkart, a homegrown marketplace platform, has been at the forefront of this transformative journey, <keyword id="65467" type="General" weightage="20" keywordseo="empowering" source="Orion">empowering</keyword> MSMEs and driving inclusive economic growth in the country. Given that more than 95% of MSMEs in India are micro in nature, a ready-to-go platform that Flipkart provides is immensely crucial to market the products coming out of Make in India and help them become small-to-medium in nature. Indeed, through its innovative approach and steadfast commitment to inclusion, Flipkart is inspiring a new cadre of entrepreneurs while playing an instrumental role in harnessing the true potential of India’s e-commerce maze. Today it stands as more than an e-commerce company – it’s a catalyst reshaping India's retail ecology.Over the last 15 years, Flipkart has been a transformative force in India’s e-commerce landscape.●It has driven the rapid growth of the online marketplace.●It has helped businesses embrace digital technology to increase their reach and profits.●It has contributed to economic development by enhancing India's global competitiveness.With a remarkable 220% seller growth on the platform since last year, Flipkart has earned the trust of over 14 lakh sellers— reflecting the faith that Indian MSMEs, small businesses, and enterprises have in their capabilities. Flipkart, with a registered user base of 500Mn+is well-positioned to cater to these emerging customer preferences.By bringing meaningful market opportunities to MSMEs and small businesses, Flipkart has helped promote inclusive growth by creating job opportunities, empowering women, and enabling entrepreneurship among disadvantaged sections of society.Empowering rural entrepreneurs MSMEs especially have a big role to play in providing employment opportunities, income generation, and skill development in rural areas, thereby uplifting local economies and reducing regional disparities. Flipkart, too, has been playing its part – it launched the Flipkart Samarth Program in 2019 to build a sustainable and inclusive platform for under-served domestic communities, with a special focus on uplifting and onboarding artisans, weavers, women-led enterprises, and people with disabilities.Flipkart isn't only changing how it does business; it's also making change happen in society:1.Inclusive growth: Flipkart promotes widespread prosperity by offering new opportunities to MSMEs and small businesses.2.Creating jobs: The platform supports countless livelihoods across the country.3.Empowering women: Flipkart believes in smashing glass ceilings, and its platform facilitates female entrepreneurship.4.Supporting the disadvantaged: Through its operations, Flipkart aims to uplift marginalised sections of society. Under the Samarth program, rural entrepreneurs from across the country are onboarded to the platform by securing multiple strategic engagements with state and central ministries, departments, livelihood missions, NGO partners, and entities across the country. To date, Samarth has reached out to sellers across 28 states, grown its seller entity base by 300% over the last year and has also helped entities &amp; businesses grow by 300%. By bringing millions of ambitious entrepreneurs access to a pan-India market, Flipkart Samarth is impacting more than 1.5 million livelihoods nationwide today. Paving the path for inclusive economic growthSupporting the development of MSMEs is crucial to ensure sustainable and inclusive economic growth, poverty alleviation and bridging the rural-urban divide. Thus, as India's e-commerce market continues to evolve, the collaboration between platforms like Flipkart and MSMEs will be pivotal in shaping a thriving and inclusive digital economy. Disclaimer: This article is authored by Rakesh Krishnan, Vice President and Head of marketplace, Flipkart. The opinions expressed are those of the author and do not necessarily reflect the views of Business Insider India.

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