The government has approved a 20 per cent premium over the regulated or <keyword id="22761099" type="General" weightage="20" keywordseo="APM-price" source="keywords">APM price</keyword> for any <keyword id="19896179" type="General" weightage="20" keywordseo="natural-gas" source="keywords">natural gas</keyword> that <keyword id="19923397" type="General" weightage="20" keywordseo="ONGC" source="keywords">ONGC</keyword> will produce from <keyword id="22761098" type="General" weightage="20" keywordseo="new-wells" source="keywords">new wells</keyword>, the company said on Monday. Currently, two pricing regimes govern the majority of the domestic production of natural gas, which is used to generate electricity, produce fertiliser, turn into CNG for running automobiles and piped to households for cooking. Gas produced from legacy or fields given to state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd, on nomination basis, is priced at 10 per cent of the prevailing price of crude oil that India imports. This price, subject to a cap price of USD 6.5 per million British thermal units, is called regulated or APM price. So, at the current Indian basket price of USD 77 per barrel, the APM price for gas produced from ONGC's Mumbai High and Bassein fields in the western offshore should come to USD 7.7 per mmBtu, but it is paid the cap price of USD 6.5. Gas produced from difficult fields, such as those in the deep sea, is governed by a different formula and paid a higher rate because of the higher cost involved in its production. That price for six months starting April 1 is USD 9.87 per mmBtu. When these formulas were adopted last year, it was decided that gas produced from new wells, even in legacy fields, would be paid a premium of 20 per cent over the APM price. Now, that has been notified. "As per guidelines for domestic gas pricing, domestic natural gas price (APM price) was fixed at 10 per cent of the Indian crude basket price as announced by Petroleum Planning and Analysis (PPAC) on a monthly basis. It was provided in the guidelines that for the gas produced from new wells or well intervention in the nomination fields of ONGC/Oil India Limited, there would be a premium of 20 per cent over APM prices -- a total of 12 per cent of Indian crude basket price for new gas. "The modalities for the same had to be worked out by the Directorate General of Hydrocarbon (DGH) for approval of the Ministry of Petroleum and Natural Gas (MOPNG)," ONGC said in a statement. The ministry, it said, has now notified the allocation of gas produced from new wells or well interventions from nominated fields of ONGC/OIL at a 20 per cent premium over the APM price. "The enhanced price for new gas will make the new gas development projects viable and help the ONGC to augment the production of natural gas from nominated fields in challenging areas that require higher amounts of capital and technology. "This will enhance the investment capacity in the company to take up development projects, which are otherwise capital intensive and involve a higher degree of risks requiring commensurate prices," it said. ONGC Board has recently approved the Daman Upside Development project in its nominated field of Mumbai High for Rs 7,800 crore for increasing domestic gas production, and the job has already been awarded for execution. The peak production envisaged from this project is around 5 million standard cubic metres per day. The board has also approved another project integrated development of 4 contract areas under DSF-II at a project cost of Rs 6,000 crore with peak production of around 4 mmscmd of gas where the government has already allowed pricing and marketing freedom under the DSF Policy. The job has already been awarded for the execution of this project. "The implementation of policy decision aligns with the national vision of achieving the target of share of natural gas in the Indian energy basket from 6 per cent to 15 per cent by 2030," ONGC added. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank">Tata Curvv EV with up to 585 km range launched starting at ₹17.49 lakh</a>

Govt approves 20% premium for gas from new wells for ONGC

<keyword id="20101775" type="General" weightage="20" keywordseo="West-Bengal-Governor" source="keywords">West Bengal Governor</keyword> CV Ananda Bose on Monday tore into the <keyword id="19909056" type="General" weightage="20" keywordseo="Mamata-Banerjee" source="keywords">Mamata Banerjee</keyword> government in the state saying that the Government had failed the women of the state. "Bengal is not a place safe for women. Bengal has failed its women. Not the society but the present government has failed its women folk. Bengal should be brought back to its pristine glory where women had a respectable place in society...Women now are scared of 'Gundas' this has been created by the government that is insensitive to this issue," the Government "In Bengal, the government has ensured that woman has no protection, that is what is reflected after the gruesome tragedy that took place in RG Kar. This should not be repeated," the Governor added. Governor Bose is expected to meet Home Minister Amit Shah to discuss the situation in the state. Meanwhile, speaking on the statement of the deceased doctor's parents the Governor said, "I respect the sentiments of the mother. The law will take its course." The Governor also extended his wishes on the occasion of Raksha Bandhan saying that sisters are the most beautiful creation of God. "Sisters are the most beautiful creations of God. Sisters are felt in the blood and felt around the heart. Today is a beautiful celebration brother and sister bonding together for Rakhi Bandhan. This is something that goes in the roots of the Indian culture, where brother is a symbol of protection and sister is a symbol of affection...The whole world should take inspiration from this," he said Earlier, Following a letter shared by former Indian cricketer <keyword id="20099610" type="General" weightage="20" keywordseo="Harbhajan-Singh" source="keywords">Harbhajan Singh</keyword> urging West Bengal Chief Minister Mamata Banerjee and Governor C.V. Ananda Bose to take immediate and decisive action in the Kolkata RG Kar Medical College and Hospital rape-death case, Bengal Governor Bose on Sunday stated that he "has called an <keyword id="21519770" type="General" weightage="20" keywordseo="emergency-meeting" source="keywords">emergency meeting</keyword> of a cross-section of Bengal society to apprise them of the action taken in the matter and to gather their opinions on the issue." In a post on X, the office of the Governor said, "HG's swift action on the letter from Shri Harbhajan Singh expressing his anguish over the tragic incident at R.G. Kar Medical College. HG has called an emergency meeting of a cross-section of Bengal society to apprise them of the action taken in the matter and to take stock of their opinions in this regard." The governor's office stated that he would be speaking to Harbhajan Singh on the actions taken and expressed his "solidarity with the civil society across India, who have voiced their deep concern over the ghastly incident and the apparent inaction of the government." On August 15, the Governor visited the RG Kar college which had been vandalised by a mob the night before. Speaking to the Governor said, "I went to the spot and all doctors, students and protestors were shocked by the dastardly attack on the midnight of 14th August, police were there to guard them but they did nothing, equipment was also destroyed. It was a more humiliating and depressing incident. Nursing students there told me with tears in their eyes that those goons threatened them to rape in public. Who was there to question? That was anarchy, which may be limited to a certain area, but such anarchy could have killed various. People are taking laws into their own hands, this is not acceptable in a civilized society. This is happening in Bengal." He further said, "I have asked for the responsible report on the incident from the government under Article 167 of the Constitution and waiting for that. I'll take a look and give my views on it." On August 9, a postgraduate trainee doctor was allegedly raped and murdered while on duty at RG Kar Medical College in Kolkata, sparking nationwide strikes and protests by the medical community. On August 14, the protest site and the hospital campus at RG Kar were vandalized by a mob, prompting security personnel to disperse the crowd. To maintain law and order, Kolkata police have imposed Section 163 of the BNSS around RG Kar Medical College and Hospital for seven days, effective from August 18. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-launched-in-india-at-172999-but-you-cant-get-your-hands-on-it-right-now/articleshow/112517193.cms">Google Pixel 9 Pro Fold launched in India at ₹1,72,999, but you can’t get your hands on it right now</a> <a href="https://www.businessinsider.in/stock-market/news/ipo-scam-two-victims-from-hyderabad-lose-over-11crore-in-fake-ipo-scams/articleshow/112488051.cms">IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams</a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms">India’s wearables market decline for the first time as smartwatch shipments fall</a>

"Government has failed women of Bengal," says Bengal Governor CV Ananda Bose

<keyword id="20253141" type="General" weightage="20" keywordseo="Bharti-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Global" meta.hostid="268" meta.entityid="Bharti Global">Bharti Global</keyword>, the international <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> arm of Bharti Enterprises, will acquire about 24.5 per cent stake in <keyword id="20115879" type="General" weightage="20" keywordseo="BT-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="BT Group" meta.hostid="268" meta.entityid="BT Group">BT Group</keyword>, Britain's largest broadband and mobile company, from <keyword id="22756191" type="General" weightage="20" keywordseo="Altice-UK" source="keywords" meta.keywordsubtype="org" meta.entityname="Altice UK" meta.hostid="268" meta.entityid="Altice UK">Altice UK</keyword>, a release said on Monday. Although it did not divulge the size of the deal, market watchers say that at BT's valuation of roughly USD 15 billion dollars, the deal could be in the ballpark of USD 4 billion. The shares will be purchased through Bharti Televentures UK, which is wholly-owned by Bharti Global. Bharti Televentures UK has inked an agreement with Altice UK to acquire about 9.99 per cent stake of BT Group's issued capital imminently with the rest about 14.51 per cent of BT's share capital is to be acquired post regulatory clearances. Telecom billionaire Patrick Drahi's Altice UK, the largest shareholder in BT, has been struggling with high debt. "Bharti Global, the international investment arm of Bharti Enterprises, a leading Indian business group with world-class companies in telecoms, digital infrastructure and space communications, has reached an agreement to acquire an interest in 24.5 per cent of the issued share capital of BT Group plc from Altice UK," Bharti said in a release. Bharti hopes the investment will further help create new synergies in the telecom sector between India and UK in the areas of AI and <keyword id="19916120" type="General" weightage="20" keywordseo="5G" source="keywords">5G</keyword> R&amp;D and core engineering among others, "offering great potential to collaborate on industry best practices and emerging technologies". It is pertinent to mention here that Bharti and BT have a relationship going back more than two decades. In 1997, BT acquired a 21 per cent stake in Bharti Airtel, and hence Bharti's latest move to acquire a 24.5 per cent chunk in the iconic British company marks a defining moment for the Indian telecom conglomerate. Sunil Bharti Mittal, Chairman of Bharti Enterprises said: "Bharti and British Telecom (BT) have an enduring relationship going back more than two decades wherein BT owned 21 per cent stake along with two board seats in Bharti Airtel Limited from 1997-2001. Today marks a significant milestone in Bharti Group's history as we invest in BT - an iconic British company". Bharti's investment in BT aims to support the commitment of Prime Minister Narendra Modi towards his vision in elevating and broadening the India-UK ties, the release said. It noted that during the recently concluded visit of UK Foreign Secretary, David Lammy to India, the UK-India Technology Security Initiative was announced to expand collaboration in critical and emerging technologies across priority sectors including telecom. Sunil Mittal said: "This investment in BT aims to support the commitment of our Prime Minister towards his vision in elevating and broadening the India-UK ties. Bharti's own record of owning and operating telecom and broadband networks around the world is underpinned by placing customers, digital innovation and operational efficiency at the heart of its business". Shravin Bharti Mittal, Managing Director of Bharti Global said: "We review global investment opportunities in the world of technology from digital infrastructure to software. BT is well known to us from the long association with Bharti, so we are pleased to have this opportunity to acquire a significant stake in the company." Bharti believes that BT is poised for leadership in the telecom arena, especially home broadband services, he added. Meanwhile, BT Group, in a separate statement said the investment from Bharti is a strong vote of confidence in the future of the British telecom carrier and its strategy. Allison Kirkby, Chief Executive of BT said: "We welcome investors who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy". "BT has enjoyed a long association with Bharti Enterprises, and I'm pleased that they share our ambition and vision for the future of our business. They have a strong track record of success in the sector, and I look forward to ongoing and positive engagement with them in the months and years to come," Kirkby said. Barclays Bank PLC, acting through its Investment Bank served as the sole financial advisor and Linklaters LLP served as legal advisor to Bharti Global in connection with the transaction. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

Bharti to acquire about 24.5% stake in BT Group from Altice UK; deal estimated at $4 bn

India's corporate credit landscape is showing positive trends that are expected to persist, according to a recent report by <keyword id="19990557" type="General" weightage="20" keywordseo="SP-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="S&amp;P Global" meta.hostid="261" meta.entityid="S&amp;P Global">S&amp;P Global</keyword>. The report highlights strengthening credit quality across various sectors, driven by enhanced <keyword id="20994126" type="General" weightage="20" keywordseo="financial-discipline" source="keywords">financial discipline</keyword>, broad-based <keyword id="19899597" type="General" weightage="20" keywordseo="earnings-growth" source="keywords">earnings growth</keyword>, and robust liquidity profiles. S&amp;P Global's analysis reveals that one in three ratings within India now shows a positive outlook, marking a significant shift after three years of net positive rating actions. The report indicates that corporate India has built greater resilience against downside risks, reflecting a more stable and robust credit environment. However, corporate leverage in India is expected to decline marginally, even as capital expenditure (capex) rises by 30% compared to pre-pandemic levels. This improvement is attributed to more entrenched financial discipline among companies, which have managed to balance rising capex with prudent financial management. The report forecasts a 10% growth in aggregate EBITDA in 2024, driven by strong performance in sectors such as telecommunications, airports, commodities, and chemicals. This broad-based earnings growth underscores the resilience of corporate India and its ability to generate substantial cash flows despite a challenging global environment. Indian companies are benefiting from strong onshore liquidity and the absence of large debt maturities, which support their liquidity profiles. The resilience of these companies to foreign exchange and interest rate volatility further strengthens their liquidity positions. Corporate India's positive credit trends are closely linked to broader economic drivers such as GDP growth. Increased consumer spending is bolstering sectors like airports, automobiles, and telecommunications. Meanwhile, infrastructure investment is significantly boosting the commodities, utilities, and commercial automotive sectors. S&amp;P Global notes that both infrastructure and non-infrastructure sectors are experiencing reductions in leverage, with absolute debt reduction more pronounced in non-infrastructure sectors. However, infrastructure entities are slower in reducing debt due to higher capex, particularly in energy transition initiatives. Operating cash flows across sectors are outpacing capex, supporting further deleveraging. While capex intensity remains higher in infrastructure sectors, the neutral free operating cash flow is seen as a positive trend, indicating that companies are managing their capital expenditures efficiently while maintaining cash flows. The transportation infrastructure sector is benefiting from traffic growth and tariff increases, with rising cargo volumes supporting port revenues and improved operating efficiencies boosting margins. Airports are also experiencing higher traffic levels and tariff increases, contributing to better operating cash flows and overall credit quality. In the utilities sector, rising demand and new capacity are driving earnings growth, though capex remains high, particularly for energy transition projects. The steel sector is expected to see increased operating cash flow due to falling input prices and new capacity additions. Earnings in the oil and gas sector are expected to remain stable, supported by a favorable price outlook and consistent production levels. The telecom sector is also on a path to significant deleveraging, with capex expected to moderate following the 5G auctions in 2023. The auto sector is witnessing sustained operating performance as volumes stabilize after the supply chain disruptions of 2022. S&amp;P Global notes that debt levels in the auto sector are expected to remain low following sharp deleveraging, while normalized growth in auto sales and stable margins support the sector's positive outlook. In the chemicals sector, falling input costs and stabilized product prices are expected to drive earnings recovery following a downturn in 2023. Improved signals show a broader trend of recovery across various industrial sectors in India. S&amp;P Global concludes that with the highest proportion of positive credit outlooks in the region, India's corporate sector is well-positioned for continued <keyword id="22758432" type="General" weightage="20" keywordseo="credit-quality-improvement" source="keywords">credit quality improvement</keyword>. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

India's corporate credit quality is getting stronger: S&P Global

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> and Maldives have signed an agreement to introduce the <keyword id="19998949" type="General" weightage="20" keywordseo="Unified-Payments-Interface" source="keywords">Unified Payments Interface</keyword> in the archipelago nation, which will have a "very positive" impact on its <keyword id="20260982" type="General" weightage="20" keywordseo="tourism-sector" source="keywords">tourism sector</keyword>, External Affairs Minister S Jaishankar has said. The Memorandum of Understanding was signed on Friday during Jaishankar's three-day official visit to the Maldives. "Witnessed signing of MoU between (the) National Payments Corporation of India and (the) Ministry of Economic Development and Trade of Maldives on (the) introduction of (a) digital payment system in the Maldives," he said in a post on X. Developed by the National Payments Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>), Unified Payment Interface (UPI) is an instant real-time payment system to facilitate inter-bank transactions through mobile phones. Addressing a press conference with his Maldivian counterpart Moosa Zameer after their "productive discussions", Jaishankar said that India, through its UPI, has "revolutionised digital transactions". Stressing that it has taken financial inclusion in India to new levels, he said "Today 40 per cent of the world's real-time digital payments take place in our country." "We see this revolution, every day in our lives. I am pleased to note that with the signing of the MoU today, we have taken the first step towards bringing this digital innovation to Maldives," he said. "I wish the very best to stakeholders on both sides and hope that we will soon see the first UPI transaction here. I should mention that it will have a very positive impact on tourism," he added. Tourism is the main source of economic activity for the Maldives, contributing nearly 30 per cent of the GDP and generating more than 60 per cent of foreign exchange. Jaishankar's visit aims to reset the bilateral relationship with the Maldives and is the first high-level trip from India after the archipelago nation's pro-China president, Mohamed Muizzu, assumed office last year. "India's partnership with the Maldives is based on our deep desire to work together for each other's welfare and interests. It is a partnership that has enabled us to always swiftly and effectively respond to challenges, as witnessed in the past," Jaishankar said. "It is a partnership that has enabled us to deliver results and bring tangible benefits to our people in accordance with their wishes, aspirations and priorities," he said. In a post on X, Jaishankar also said, "Jointly inaugurated six High Impact Projects in areas of street lighting, mental health, children speech therapy and special education." "Welcome renewal of MoU between National Centre for Good Governance and Civil Services Commission on (the) training of additional 1,000 civil services officers," he added. Addressing the joint press conference, Maldivian Foreign Minister Zameer said, "India has always been one of our closest friends and a vital development partner." He said the "enduring friendship" was built on a foundation of mutual trust and respect and has continued to flourish over the years. "High-level exchanges between our countries have deepened our dialogue and cooperation in areas of shared interest. We remain dedicated to strengthening and advancing this mutually beneficial partnership," he said. "Minister Dr Jaishankar and I agreed that much more needs to be done to promote trade and investment between the Maldives and India," he said, adding that both sides are committed to establishing "effective mechanisms to enhance economic cooperation, fostering a vibrant and prosperous partnership that will benefit both the nations." Zameer said he conveyed President Muizzu's proposal to begin negotiations on a Free Trade Agreement between the Maldives and India. "This agreement alongside other economic and trade-related agreements will facilitate trade liberalisation and ease the risks of doing business in both our countries," he said. Zameer said that India and Maldives have also mutually agreed to further strengthen their partnership by continuing joint exercises and expanding training opportunities for officers from both countries, asserting that this reflects "our commitment to working together to ensure the security of our nations as well as ensuring the safety and stability of the Indian Ocean region." India's relations with the Maldives suffered a major setback last year when President Muizzu demanded the withdrawal of Indian military personnel manning three aviation platforms in the Maldives. Subsequently, the Indian military personnel were replaced by civilians by May 10, the mutually agreed date. "On regional and multilateral issues of importance, our countries have a common understanding and are united in our efforts to resolve them. We agreed to continue our cooperation on issues ranging from combating terrorism, violent extremism, drugs, human trafficking and to the promotion and protection of human rights," Zameer said. In his press statement, Jaishankar said that India and the Maldives "are not just close neighbours, we are also natural partners." "Today, we are mutually invested in each other's development and progress. In a globalised and interconnected world, we see a lot of volatility and global tensions. Even as the world is recovering from the impact of the COVID pandemic, we have been confronted with new challenges arising from international conflicts," he said. In this tumultuous environment, India has been and will be, an anchor of stability for its friends, partners and neighbours. To the Maldives specifically, India has provided support to deal with economic challenges through financial assistance and budgetary support, and by ensuring an uninterrupted supply of critical items, he noted. India's actions have been and will continue to be guided by its firm commitment to the philosophy of 'Sabka Saath, Sabke Vikas - which is- Together, we prosper', Jaishankar said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank">Brainbees Solutions (Firstcry) IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

India to introduce UPI payment service in Maldives

US short-seller <keyword id="20016892" type="General" weightage="20" keywordseo="Hindenburg-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindenburg Research" meta.hostid="153" meta.entityid="Hindenburg Research">Hindenburg Research</keyword> launched a fresh broadside against market regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="153" meta.entityid="Sebi">Sebi</keyword> chairperson <keyword id="22743118" type="General" weightage="20" keywordseo="Madhabi-Buch" source="keywords">Madhabi Buch</keyword>, alleging she and her husband had stakes in obscure offshore funds used in the Adani <keyword id="22743230" type="General" weightage="20" keywordseo="money-siphoning" source="keywords">money siphoning</keyword> scandal. In a blogpost, Hindenburg said 18 months since its damning report on Adani, "SEBI has shown a surprising lack of interest in Adani's alleged undisclosed web of Mauritius and offshore shell entities." Citing "whistleblower documents", it said, "Madhabi Buch, the current chairperson Of SEBI, and her husband had stakes in both obscure offshore funds used in the Adani money siphoning scandal." Obscure offshore Bermuda and Mauritius funds, allegedly controlled by <keyword id="20283220" type="General" weightage="20" keywordseo="Vinod-Adani" source="keywords">Vinod Adani</keyword> -- elder brother of group chairman Gautam Adani -- are alleged to have been used to round-trip funds and inflate stock price. Hindenburg said, "A declaration of funds, signed by a principal at IIFL states that the source of the investment is 'salary' and the couple's net worth is estimated at USD 10 million". "In brief, despite the existence of thousands of mainstream, reputable onshore Indian mutual fund products, an industry she now is responsible for regulating, documents show SEBI Chairperson Madhabi Buch and her husband had stakes in a multi-layered offshore fund structure with miniscule assets, traversing known high-risk jurisdictions, overseen by a company with reported ties to the Wirecard scandal, in the same entity run by an Adani director and significantly used by Vinod Adani in the alleged Adani cash siphoning scandal," it alleged. It went on to cite the Supreme Court order where it was recorded that Sebi had "drawn a blank" in its investigations into who funded Adani's offshore shareholders. "If SEBI really wanted to find the offshore fund holders, perhaps the SEBI chairperson could have started by looking in the mirror," it said. "We find it unsurprising that SEBI was reluctant to follow a trail that may have led to its own chairperson." No immediate comments were available from Sebi. In January last year, Hindenburg Research, which in the past has shorted, or bet against, companies like electric truck maker Nikola Corp and Twitter (now X), accused Adani Group of pulling "the largest con in corporate history" by using a web of companies in tax havens to inflate its revenue and manipulate stock prices, even as debt piled up. Though the conglomerate vehemently denied all allegations, the damning report sent the group's shares into a free fall, wiping out over USD 150 billion in market value of the 10 listed entities at their lowest point. Most of the 10 listed companies have since recouped the losses. After the Hindenburg report, the Supreme Court asked market regulator Sebi to complete its investigation and set up a separate expert panel to look into regulatory lapses. The panel did not give any adverse report on Adani and the apex court too stated that no other probe other than the one being done by Sebi was required. Sebi (Securities and Exchange Board of India), which had been investigating the Adani group even before Hindenburg report, last year had told a Supreme Court-appointed panel that it was investigating 13 opaque offshore entities that held between 14 per cent and 20 per cent across five publicly traded stocks of the conglomerate. It hasn't stated if the two incomplete probes have since been completed. "The current SEBI Chairperson and her husband, Dhaval Buch, had hidden stakes in the exact same obscure offshore Bermuda and Mauritius funds, found in the same complex nested structure, used by Vinod Adani," Hindenburg said. It said on March 22nd, 2017, just weeks ahead of her wife being appointed SEBI chairperson, Dhaval Buch wrote to Mauritius fund administrator Trident Trust, according to documents we received from a whistleblower. The email was regarding his and his wife's investment in the Global Dynamic Opportunities Fund (GDOF). "In the letter, Dhaval Buch requested to "be the sole person authorised to operate the Accounts", seemingly moving the assets out of his wife's name ahead of the politically sensitive appointment," it alleged. "In a later account statement dated February 26th, 2018, addressed to Madhabi Buch's private email, the full details of the structure are revealed: "GDOF Cell 90 (IPEplus Fund 1)". "Again, this is the exact same Mauritius-registered "cell" of the fund, found several layers deep in a convoluted structure, reportedly used by Vinod Adani," it alleged. According to Hindenburg, Madhabi Buch and her husband had undisclosed investments in obscure offshore funds in Bermuda and Mauritius, the same entities allegedly used by Vinod Adani. These investments reportedly date back to 2015, well before Madhabi Buch's appointment as a whole-time member of SEBI in 2017 and her elevation to SEBI chairperson in March 2022. Buch and her husband may have first opened their account with IPE Plus Fund 1 on June 5, 2015 in Singapore. IPE fund is a small offshore Mauritius fund set up by an Adani director through India Infoline (IIFL), a wealth management firm with ties to the Wirecard embezzlement scandal. "Vinod Adani, brother of Gautam Adani, used this structure to invest in Indian markets with funds allegedly siphoned from over-invoicing of power equipment to Adani Group," claimed Hindenburg. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/stock-market/news/unicommerce-esolutions-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112393219.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/unicommerce-esolutions-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112393219.cms" target="_blank">Unicommerce eSolutions IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/finance/banks/news/rbi-mpc-meet-cheque-clearing-time-reduced-upi-limit-increased-for-tax-payment/articleshow/112366099.cms" target="_blank"></a> <a href="https://www.businessinsider.in/finance/banks/news/rbi-mpc-meet-cheque-clearing-time-reduced-upi-limit-increased-for-tax-payment/articleshow/112366099.cms" target="_blank">RBI MPC meet – Cheque clearing time reduced, UPI limit increased for tax payment</a>

Hindenburg alleges Sebi head Madhabi Buch had stakes in obscure offshore funds used in Adani scandal

<keyword id="19956322" type="General" weightage="20" keywordseo="BharatPe" source="keywords" meta.keywordsubtype="org" meta.entityname="BharatPe" meta.hostid="83" meta.entityid="BharatPe">BharatPe</keyword> Group and <keyword id="19993869" type="General" weightage="20" keywordseo="PhonePe" source="keywords" meta.keywordsubtype="org" meta.entityname="PhonePe" meta.hostid="83" meta.entityid="PhonePe">PhonePe</keyword> Group have amicably settled all long-standing legal disputes pertaining to the use of the trademark with the suffix 'Pe', a joint statement read. Both companies had been involved in long-drawn legal disputes across multiple courts, over the past five years. "The settlement will put an end to all open judicial proceedings," the joint statement dated May 26 read. As a next step, they have already taken steps to withdraw all oppositions against each other in the trademark registry which will help them to proceed with the registration of their respective marks. Further, both organizations will undertake other necessary steps to comply with the obligations under the settlement agreement in respect of all cases before the <keyword id="19895875" type="General" weightage="20" keywordseo="Delhi-High-Court" source="keywords">Delhi High Court</keyword> and <keyword id="19905533" type="General" weightage="20" keywordseo="Bombay-High-Court" source="keywords">Bombay High Court</keyword>, the statement said. <keyword id="19956324" type="General" weightage="20" keywordseo="rajnish-kumar" source="keywords">Rajnish Kumar</keyword>, Chairman of the Board, of BharatPe, said, "This is a positive development for the industry. I appreciate the maturity and professionalism shown by the Management of both sides, working closely to resolve all outstanding legal issues and moving ahead to focus their energy and resources in building robust digital payment ecosystems.'' Sameer Nigam, Founder and CEO of PhonePe, said, ''I am glad that we have reached an amicable resolution in this matter. This outcome will benefit both companies to move forward and focus our collective energy on growing the Indian fintech industry as a whole. I would like to thank Mr Rajnish Kumar and his team for working with us to get to this positive outcome." BharatPe, the brand name of Resilient Innovations Pvt Ltd, was founded in 2018. Currently with a registered network of over 1.3 crore merchants across 450+ cities, the company is one of the leading players in UPI offline transactions, processing 370 million+ UPI transactions per month. PhonePe Group is also India's leading fintech company. Its flagship product, the PhonePe digital payments app, was launched in August 2016. In seven years, the company has scaled rapidly to become India's leading consumer payments app with 535+ million registered users and a digital payments acceptance network of 39+ million merchants. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/poco-f6-vs-realme-gt-6t-which-mid-range-smartphone-should-you-buy/slidelist/110388110.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/poco-f6-vs-realme-gt-6t-which-mid-range-smartphone-should-you-buy/slidelist/110388110.cms" target="_blank">Poco F6 vs Realme GT 6T – which mid-range smartphone should you buy?</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6t-vs-motorola-edge-50-pro-price-specs-and-features-compared/slidelist/110366047.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6t-vs-motorola-edge-50-pro-price-specs-and-features-compared/slidelist/110366047.cms" target="_blank">Realme GT 6T vs Motorola Edge 50 Pro – price, specs and features compared</a><a href="https://www.businessinsider.in/tech/news/indias-wearable-shipments-rise-by-2-1-in-q1-2024-average-price-declines/articleshow/110354913.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearable-shipments-rise-by-2-1-in-q1-2024-average-price-declines/articleshow/110354913.cms" target="_blank">India’s wearable shipments rise by 2.1% in Q1 2024, average price declines</a>

BharatPe and PhonePe amicably settle all trademark disputes over 'Pe' suffix

Kolkata Knight Riders (<keyword id="19924483" type="General" weightage="20" keywordseo="KKR" source="keywords">KKR</keyword>) all-rounder <keyword id="20453457" type="General" weightage="20" keywordseo="Sunil-Narine" source="keywords">Sunil Narine</keyword> has become the first player to win the '<keyword id="20028441" type="General" weightage="20" keywordseo="Most-Valuable-Player" source="keywords">Most Valuable Player</keyword>' award in the Indian Premier League (<keyword id="19906063" type="General" weightage="20" keywordseo="IPL" source="keywords">IPL</keyword>) thrice after beating the Sunrisers Hyderabad (SRH) in the final of the 2024 season. Narine won his first <keyword id="19936836" type="General" weightage="20" keywordseo="MVP-award" source="keywords">MVP award</keyword> in the IPL 2012 after picking up 24 wickets, it was also his debut season. His second MVP came in the 2018 season of the tournament when he scored 357 runs and picked 17 wickets as well. In the 17th season of the IPL, Narine displayed a stunning performance for the Kolkata-based franchise. He scored 488 runs and bagged 17 wickets. In the final match of the IPL 2024 against Sunrisers Hyderabad, Narine took one wicket and gave 16 runs in his four-over spell, he removed Jaydev Unadkat from the crease in the 18th over. During the run chase, he scored six runs after playing two balls at a strike rate of 300. KKR lifted their third title under the leadership of Shreyas Iyer after thumping the Hyderabad-based franchise by 8 wickets on Sunday. Recapping the match, SRH won the toss and elected to bat first. KKR rocked SRH with continuous wickets, with the big buy Mitchell Starc justifying his hefty price tag. Only skipper Pat Cummins (24 in 19 balls, with two fours and a six) and Aiden Markram (20 in 23 balls, with three fours) touched the 20-run mark and SRH was bundled out for 113 in 18.3 overs. Andre Russell (3/19) was the top bowler for KKR. Starc (2/14) and Harshit Rana (2/24) also contributed well with the ball. Sunil Narine, Varun Chakravarthy and Vaibhav Arora took a wicket each. KKR pulled off the run-chase of 114 run-target in just 10.3 overs with eight wickets in hand. Venkatesh Iyer (52* in 26 balls, with four boundaries and three sixes) and Rahmanullah Gurbaz (39 in 32 balls, with five fours and two sixes) shined for KKR in the final match of the tournament. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/poco-f6-vs-realme-gt-6t-which-mid-range-smartphone-should-you-buy/slidelist/110388110.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/poco-f6-vs-realme-gt-6t-which-mid-range-smartphone-should-you-buy/slidelist/110388110.cms" target="_blank">Poco F6 vs Realme GT 6T – which mid-range smartphone should you buy?</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6t-vs-motorola-edge-50-pro-price-specs-and-features-compared/slidelist/110366047.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6t-vs-motorola-edge-50-pro-price-specs-and-features-compared/slidelist/110366047.cms" target="_blank">Realme GT 6T vs Motorola Edge 50 Pro – price, specs and features compared</a><a href="https://www.businessinsider.in/tech/news/indias-wearable-shipments-rise-by-2-1-in-q1-2024-average-price-declines/articleshow/110354913.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearable-shipments-rise-by-2-1-in-q1-2024-average-price-declines/articleshow/110354913.cms" target="_blank">India’s wearable shipments rise by 2.1% in Q1 2024, average price declines</a>

Sunil Narine becomes first player to win MVP award in IPL thrice

<ul><li><keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> has manufactured 2 billion smartphones between 2014 and 2022.</li><li>The country is now the second largest manufacturer of smartphones after China.</li><li>98% of the smartphones sold in India in 2022 were manufactured locally.</li></ul> The push to make India a hub for smartphone manufacturing as part of the Make in India initiative is yielding results. India has emerged as the second largest smartphone manufacturer after China. According to a<a href="https://www.counterpointresearch.com/india-mobile-phone-production/"> report</a> by Counterpoint Research, mobile phone production in India has crossed the 2 billion cumulative mark under the Make in India initiative during 2014-2022. <cmsannotation type="cmsannotation" annotationid="Increase in shipments" comment="subhead" text="Increase in shipments">Increase in shipments</cmsannotation> According to the report domestic production of smartphones is expected to hit 270 million this year, up from last year’s 250 million. Most smartphones sold in India presently are manufactured locally. Out of the 250 million smartphones produced last year, the country exported 20% of the devices. “In 2022, more than 98% of shipments in the overall Indian market were ‘Made in India’, compared to just 19% in 2014,” said Tarun Pathak, research director, Counterpoint Research. It’s not just production that has been on the rise, local value addition has also reached an all-time high. “Local value addition in India currently stands at an average of more than 15%, compared to the low single digits eight years ago,” Pathak added. “The government now intends to capitalise on its various schemes to make India a ‘semiconductor manufacturing and export hub’. Going forward, we may see increasing production, especially for <a href="https://www.counterpointresearch.com/global-smartphone-market-q1-2023-infographic/">smartphones</a>, as India gears to bridge the urban-rural digital divide and also become a mobile phone exporting powerhouse,” Pathak said. <cmsannotation type="cmsannotation" annotationid="Apple accounts for a huge chunk" comment="subhead" text="Apple accounts for a huge chunk">Apple accounts for a huge chunk</cmsannotation> According to a report by ET, Apple accounted for 25% of the total value of domestically manufactured smartphones in 2022, more than double the 12% in 2021. While Apple’s production has increased by 65% year-on-year in 2022, its value has increased by 162%. One of the reasons for this could be the increased sales of premium <keyword id="57315" type="General" weightage="50" keywordseo="iphones" source="Orion">iPhones</keyword>. <cmsannotation type="cmsannotation" annotationid="India records 23% CAGR" comment="subhead" text="India records 23% CAGR">India records 23% CAGR</cmsannotation> India has reportedly recorded a compounded annual growth rate (CAGR) of 23%. Huge internal demand, increasing digital literacy and government’s push are reported to be the top reasons for this growth. The Indian government has introduced schemes such as Phased Manufacturing Program (PMP), Make in India, <keyword id="8870884" type="General" weightage="50" keywordseo="production-linked-incentive" source="Orion">Production Linked Incentive</keyword> (PLI) and Atmanirbhar Bharat to increase local manufacturing. SEE ALSO: <a href="https://www.businessinsider.in/tech/gadgets/news/with-smartwatches-leading-the-pack-indian-wearables-market-grows-over-50-in-the-first-half-of-2023/articleshow/102638102.cms">With smartwatches leading the pack, Indian wearables market grows over 50% in the first half of 2023</a> <a href="https://www.businessinsider.in/finance/news/cash-card-or-talk-rbi-bats-for-conversational-upi-increased-offline-payments/articleshow/102599474.cms">UPI joins the AI bandwagon, offline payments get a push</a> <a href="https://www.businessinsider.in/business/auto/news/auto-sales-slip-5-percent-in-july-companies-build-up-inventory-ahead-of-the-festive-season/articleshow/102494498.cms">As auto sales slip in July, dealers pin hopes on upcoming festive fervour</a>

India crosses the 2 billion mark in its journey to become a smartphone manufacturing powerhouse

Global technology brand <keyword id="6485927" type="General" weightage="100" keywordseo="realme" source="Orion">realme</keyword> is set to replace <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> business head <keyword id="6530659" type="General" weightage="50" keywordseo="madhav-sheth" source="Orion">Madhav Sheth</keyword> with a top executive from its China-based headquarters, reliable sources told IANS on Thursday. <keyword id="262579" type="General" weightage="80" keywordseo="sheth" source="Orion">Sheth</keyword> may quit the company once the official statement is made soon. The move, according to industry insiders, does not augur well for the company which cemented its position in a market which is highly competitive at the mass level, with Sheth, as its India business lead, became the sole face of the company within a short span of time. According to sources, realme is set to make the India announcement as soon as possible, as the domestic smartphone market goes through a churning. Sheth, being a veteran in the field, clearly has a command over the local market dynamics -- something that the upcoming Chinese executive may not have in his kitty. Another worry for realme, according to industry insiders, is that a Chinese national at the helm may send negative signals to the Indian government which is already after Chinese-run businesses, especially smartphone vendors, which were allegedly involved in tax evasion running into thousands of crores. Sheth, currently the CEO of realme India, VP, realme and President, realme International Business Group has been at the forefront of creating consumer products with trendsetting technologies, features and designs. An award-winning global business leader with over 17 years of experience, he spearheads the company's strategy development, product engineering, business development, market operations and brand-building initiatives alongside others. Sheth is fully responsible for realme's overseas business operation, reporting directly to the founder and CEO of realme, <keyword id="2871924" type="General" weightage="50" keywordseo="sky-li" source="Orion">Sky Li</keyword>. On May 4, 2018, realme was officially established by its founder Li and Sheth in India. Sheth focused on the development of AIoT devices and smartphones for Indian consumers, with the goal of improving their lives by inventing fashionable and high-tech lifestyle smart products. Under his leadership, realme India diversified into AIOT products with Smart TVs, Smart wearables and Smart hearables; strengthened mainline presence across the country with realme exclusive stores; enhanced 'Make in India' commitment with local manufacturing and exports to Nepal region, and popularised adoption of 5G-enabled smartphones. realme emerged as the third biggest smartphone brand in India in Q1 2022, and the fastest growing major 5G brand globally in Q4 2021, clocking a 165 per cent growth in global 5G smartphone shipments. The company climbed to the second slot for a second time, with a strong YoY growth of 24 per cent (highest among top five vendors) in Q2, 2022, as per IDC. It grew 2 per cent (on-quarter) in the third quarter last year, according to Counterpoint Research. realme cemented its second position in the online channel with 23 per cent share with affordable model offerings in the C-series. realme is the No. 5 Android smartphone brand globally and the youngest brand to achieve 100 million sales globally within 37 months. In the next five years, his objective was to accomplish realme as the most adored tech-lifestyle brand across the country. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/now-sync-your-air-travel-with-uber-via-email-integration-in-india/articleshow/98942821.cms">Now sync your air travel with Uber via email integration in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/heres-how-meesho-zepto-pepperfry-and-icertis-cracked-hyperscaling/slidelist/98943189.cms">Here’s how Meesho, Zepto, Pepperfry and Icertis cracked ‘hyperscaling’</a>

realme to appoint new India biz head from China, Madhav Sheth may quit

<ul><li><keyword id="6485927" type="ORGANIZATION" weightage="20" keywordseo="realme">Realme</keyword>, one of the top five smartphone makers in India, is planning to launch up to 500 new "smart" stores in India in 2021.</li><li>This will include flagship stores in some major cities of India.</li><li>Apart from this, Realme also expects its smartphone shipments to grow by over 30% this year.</li><li>Business Insider spoke to Madhav Sheth, the company’s chief executive officer in India, to know what to expect from Realme in 2021 and beyond.</li></ul>Realme has become one of the top smartphone companies in India, going from nowhere in 2018 to cracking the top five in 2020. And now, it plans to launch 300-500 smart stores in 2021 to bolster its offline presence. Business Insider spoke to Madhav Sheth, who is the chief executive officer (CEO) of Realme India as well as the company’s global vice president, who revealed the smartphone major’s plan for 2021 and his strategy to launch new devices in the 5G era. Sheth is the CEO of Realme Europe as well. <cmsannotation type="cmsannotation" annotationid="Online is good, adding offline is better" comment="subhead" text="Online is good, adding offline is better">Online is good, adding offline is better</cmsannotation> <div type="image" title="Realme smart store" msid="80443836" hostid="261" caption="&amp;lt;p&amp;gt;Realme smart store&amp;lt;/p&amp;gt;"></div> Sheth revealed that Realme is planning to launch up to 500 new “smart” stores in 2021. This will include flagship stores in some of the major cities. Additionally, the company is also planning on partnering with other retailers to sell some of its products in the lifestyle segment. Realme debuted in India in 2018 with an entry-level smartphone in May. The company followed it up with several new smartphones across price ranges, offering something for everyone. This allowed it to break into the top five smartphone companies in India in a year’s time. <div type="image" title="Realme market share up to Q3 2020." msid="80443807" hostid="261" caption="&amp;lt;p&amp;gt;Realme market share&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="‘Make in India’ cannot be achieved overnight" comment="subhead" text="‘Make in India’ cannot be achieved overnight">‘Make in India’ cannot be achieved overnight</cmsannotation> Talking about the challenges faced in manufacturing products in India, Sheth explained that it cannot happen overnight. Making a smartphone requires critical components like the display, chipset, camera modules among other parts, which are still imported into India. Building out the capabilities to manufacture these parts in India will take some time, according to Sheth. <cmsannotation type="cmsannotation" annotationid="A bumper 2020 behind the aggressive plan for 2020" comment="subhead" text="A bumper 2020 behind the aggressive plan for 2020">A bumper 2020 behind the aggressive plan for 2020 </cmsannotation> Realme shipped 19 million smartphones in 2020. Sheth has now set a target of 25-30 million shipments in 2021, targeting growth of over 30% which might seem too ambitious at the outset but Sheth is confident about achieving it. “Backed by pent-up demand, new launches with attractive specs, festive offers, the Indian smartphone market registered a record growth in shipments in Q3. Realme emerged the No. 3 Brand as per smartphone shipments in October 2020,” Sheth said. <cmsannotation type="cmsannotation" annotationid="The game will evolve with 5G" comment="subhead" text="The game will evolve with 5G">The game will evolve with 5G</cmsannotation> Sheth said he believes 5G is going to unlock potential for a wide range of products and services. “It’s not just smartphones that will benefit from 5G. I expect us to see a lot of new products and services that will utilize the high bandwidth potential that 5G brings to the table,” he said. Realme is all set to launch its new 5G smartphone as part of the <a>Realme X7</a> series in the country. Sheth said these devices will be the first amongst many Realme products that will “democratize 5G” in India. <cmsannotation type="cmsannotation" annotationid="Realme is looking at IoT opportunities in India" comment="subhead" text="Realme is looking at IoT opportunities in India">Realme is looking at IoT opportunities in India</cmsannotation> With the smartphone industry being extremely competitive and the imminent launch of 5G services in India, building an ecosystem of internet-enabled devices (IoT) is increasingly becoming important for many companies. Realme, too, wants to build its own ecosystem of products and services. At the moment, Realme has a smart camera in its portfolio but we could see some new smart devices being launched this year. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/realme-x7-series-smartphones-with-amoled-display-64mp-quad-cameras-to-launch-in-india-in-first-week-of-february/articleshow/80381070.cms">Realme X7 series smartphones with AMOLED display, 64MP quad cameras to launch in India in first week of February</a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-sold-8-3-million-devices-during-the-festive-season-registering-a-20-growth-over-last-year/articleshow/79280264.cms">Realme sold 8.3 million devices during the festive season, registering 20% growth over last year</a> <a href="https://www.businessinsider.in/tech/news/realme-watch-most-shipped-wearable-in-the-last-two-quarters-company-tops-wearable-segment-in-september/articleshow/79167151.cms">Realme Watch most shipped wearable in the last two quarters, company tops wearable segment in September</a>

EXCLUSIVE: Realme plans to open 500 new stores in 2021⁠— the CEO reveals the company will go beyond smartphones in the 5G era

Packed with industry-leading health and fitness tools, <keyword id="6354427" type="COMPANY" weightage="20" keywordseo="apple">Apple</keyword> Watch has once again dominated one of the key wearable segment, leading the <keyword id="10878690" type="UNKNOWN" weightage="20" keywordseo="smartwatch-category">smartwatch category</keyword> with a 51 <keyword id="10878691" type="UNKNOWN" weightage="20" keywordseo="per-cent-global-share">per cent global share</keyword> in 2020 and further cementing its position in the India market, according to latest reports this week. <keyword id="22670" type="PERSON" weightage="20" keywordseo="watches">Watches</keyword> grew significantly as demand for wrist bands declined during the year, witnessing a 139.3 per cent (on-year) growth with 2.6-million unit shipments last year. According to the IDC, smartwatches, which can run third-party applications on the device itself, accounted for a 24.5 per cent share in the watch category and Apple continues to lead the smartwatch category with a massive 51 per cent share in 2020. "In India, mainly Watch 3 and Watch 6 led to the growth in 2020. Apple Watch has been well received by the Indian consumers," Navkendar Singh, Research Director, Client Devices &amp; IPDS, <keyword id="126803" type="COMPANY" weightage="20" keywordseo="IDC-India">IDC India</keyword>, told. Price reductions on older Apple Watches and the promotional discounts offered by banks and e-tailer channels on Series 5 and Series 6 made the device a popular purchase among consumers in India. According to Jaipal Singh, Associate Research Manager, Client Devices, IDC India, the high cost associated with wearable watches is not much of a challenge anymore. "Also, the watch form factor is now seen as more appealing to the consumers, and vendors will leverage this shift by further expanding their watches portfolio in coming quarters," he added. <keyword id="6439913" type="COMPANY" weightage="20" keywordseo="counterpoint-research">Counterpoint Research</keyword> said that Apple Watch Series 6 and SE did well globally, shipping 12.9 million units and accounting for 40 per cent market share in Q4. "In a year where annual growth inched forward at only 1.5 per cent, Apple maintained its solid number one position and increased its market share by 6 per cent, helping shift the overall market closer to the premium segment," it said. Apple Watch users can view their cardio fitness levels in the Health app on <keyword id="6354606" type="COMPANY" weightage="20" keywordseo="iPhone">iPhone</keyword>, and receive a notification if it falls within the low range. Apple Watch already estimates average and higher levels of VO2 max during vigorous outdoor walks, runs, or hikes, which many runners and other athletes monitor to improve performance. Apple Watch also has several other health features like ECG, Fall Detection and more. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-find-my-stalking-airtags-item-safety-alerts/articleshow/81342449.cms">Apple’s new Find My feature updated to prevent stalking as launch of the rumoured AirTags nears</a> <a href="https://www.businessinsider.in/tech/news/regulating-digital-news-is-important-but-freedom-of-press-is-precious/articleshow/81341289.cms">OPINION: Regulating digital news is important but freedom of press is precious</a> <a href="https://www.businessinsider.in/stock-market/news/heranba-industries-ipo-makes-a-bumper-debut-on-stock-exchanges/articleshow/81342578.cms?upcaceh=2">Heranba Industries makes a bumper debut on stock exchanges — shares soar 44% over the issue price band</a> <a href="https://www.businessinsider.in/finance/banks/news/ignore-low-cibil-score-for-street-vendor-loans-work-on-holidays-and-other-diktats-from-indian-government-to-banks-rushing-to-meet-march-target/articleshow/81223572.cms">EXCLUSIVE: Bankers may be working all 31 days of March with the government looking to double the loans doled out under the PM SVANidhi scheme</a>

Apple Watch garners 51% global market share, India sweet spot, says report

<ul><li>Indian Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> launched the ‘<keyword id="8012374" type="UNKNOWN" weightage="20" keywordseo="Fit-India-Movement">Fit India Movement</keyword>' today in celebration of <keyword id="408358" type="ORGANIZATION" weightage="20" keywordseo="National-Sports-Day">National Sports Day</keyword>. </li><li>He also expressed how technology is the bane of fitness.</li><li>He said that <keyword id="3204650" type="PERSON" weightage="20" keywordseo="fitbits">fitbits</keyword>, pedometers and other digital fitness trackers are nothing more than a "<keyword id="72128" type="PERSON" weightage="20" keywordseo="fashion-statement">fashion statement</keyword>".</li></ul>The Indian Prime Minister Narendra Modi wants India to get fit but he doesn't think that technology can help them achieve it. Many people use fitness apps and fitbits to help keep track of their health. But "that's the bane of fitness to begin with," Modi said in his speech while launching the ‘<a href="https://www.businessinsider.in/pm-narendra-modi-launches-national-campaign-for-fitness/articleshow/70887527.cms">Fit India Movement</a>' as the country celebrated National Sports Day. Modi went ahead and quipped that <a href="https://www.businessinsider.in/fitbit-just-launched-a-new-version-of-its-versa-smartwatch-and-it-could-give-the-apple-watch-some-serious-competition/articleshow/70877936.cms">Fitbits</a> and other wearable fitness tech is nothing more than a "fashion statement". Fitness gadgets gather dust, says Modi "The irony that technology is the reason that people walk less yet they use phones as pedometers to keep track of how many steps they've taken in a day," Modi pointed out. Mocking people who only talk about fitness and buy <a href="https://www.businessinsider.in/the-best-home-gym-equipment-you-can-buy-to-get-fit/articleshow/67386725.cms">trending gadgets</a>, Modi joked that the same people still need servants to help dust the machines and are never used. "Eventually, they get stored away some forgotten corner of the house," he said. According to the Prime Minister who posts fitness videos of himself and is an <a href="https://www.businessinsider.in/international-yoga-day-these-13-yoga-exercises-are-strongly-recommended-by-pm-modi-for-physical-mental-well-being/articleshow/52847653.cms">advocate of yoga</a>, believes that <a href="https://www.businessinsider.in/miscellaneous/8-free-fitness-apps-that-can-help-you-get-in-shape-and-what-theyre-best-for/slidelist/64963328.cms">fitness apps</a> are only temporary solutions since most users forget about them within a few days of installing them. Instead, Modi advocates ‘normal exercise' like cycling and walking. His idea of staying fit is to not be obsessed with hitting a target of 2,000, 5,000 or 10,000 steps. Technology isn't all bad Modi's comments might not go down well with a thriving fitness and wearables market in India. Last year, the country's wearables market grew at a healthy 17% and hit a million in shipments, according to <a href="https://www.idc.com/getdoc.jsp?containerId=prAP44516218">IDC</a>, as Indians show more interest in tracking their health and habits. Even health trackers and diet apps are catching on in India providing users with a range of solutions from live fitness sessions to teaching new exercises. A large number of Indian companies like <a href="https://www.businessinsider.in/akshay-kumar-invests-in-fitness-startup-goqii-which-recently-had-a-legal-tussle-with-flipkart/articleshow/69989239.cms">GQii</a> amongst others are focussing on this market. Most others are using cutting edge technology like artificial intelligence (AI) and machine learning (ML) which helps trainers devise and deliver personalised fitness options to users. See also: <a href="https://www.businessinsider.in/pm-narendra-modi-launches-national-campaign-for-fitness/articleshow/70887527.cms">Modi launches fit India movement as the country battles its diabetes capital tag</a> <a href="https://www.businessinsider.in/international-yoga-day-these-13-yoga-exercises-are-strongly-recommended-by-pm-modi-for-physical-mental-well-being/articleshow/52847653.cms">These 13 yoga exercises are strongly recommended by PM Modi for physical, mental well-being</a> <a href="https://www.businessinsider.in/what-it-really-means-to-be-in-shape-according-to-a-fitness-expert--and-how-to-gauge-how-fit-you-are/articleshow/66183621.cms">What it really means to be in shape, according to a fitness expert - and how to gauge how fit you are</a>

You Searched For "indian wearable shipments" and got 13 results