<ul><li>India should not become complacent on the export front. Total export by all nations is about 28-30% of the world GDP. </li><li><keyword id="6393721" type="General" weightage="20" keywordseo="indirect-taxes" source="Orion">Indirect taxes</keyword> such as <keyword id="14212793" type="General" weightage="20" keywordseo="mineral-taxes" source="Orion">mineral taxes</keyword>, <keyword id="6356916" type="General" weightage="20" keywordseo="excise-duty" source="Orion">excise duty</keyword>, export duty etc., must be levied in a rational manner to remove the cascading effect. </li><li>Ban on the export of agro produce shall immediately affect the income of about 45-50% of the population employed in the farming sector. </li></ul>During 2021-22, India exported goods and services worth $669.7 billion (22.8% of GDP) as against $538.6 billion which was at about 20% of GDP during 2017-18. This calls for a sincere applause. However, India should not become complacent on the export front. Total export by all nations is about 28-30% of the world GDP. In 2012-13, India exported goods and services to the tune of 25.4% of GDP. Therefore, India must boost exports up to 28-30% of its GDP. That will recover the loss of GDP during Covid years and ensure consistent growth in the years to come. For this, the cost of basic inputs such as capital, energy, minerals and logistics must be reduced to become globally competitive. More so, indirect taxes such as mineral taxes, excise duty, export duty etc., must be levied in a rational manner to remove the cascading effect. That will boost exports and also arrest ‘cost push’ inflation. Recently, to control inflation, India has banned exports of few agro products and levied 50% export duty on iron ore, 45% on iron ore pellets and 15% on steel. However, current inflation in India is not due to shortage in supply but due to ‘cost push factor’. The export curbs need review since; it will impact GDP growth. Yes, in case of shortage in supply, curbing of exports in a calibrated manner may be chosen as a last option. Ban on the export of agro produce shall immediately affect the income of about 45-50% of the population employed in the farming sector. That will aggravate the unemployment problem. Advance estimate of production and consumption with predictable export policy shall enhance agro production without causing high inflation. India’s steel capacity utilization will be affected by the duty In India, steel production capacity is much higher than the domestic demand. More so, the addition of new capacities is in the pipeline. Sudden levy of 15% export duty shall adversely affect capacity utilization and on-going investment in new capacity. The growth of public income (GDP) and investment rate shall decline; that India can’t afford. It is agreed that; in the past one or two years, steel prices have sky-rocketed and its impact is felt by the entire economy. But such inflated prices are due to high jumps in the price of coal and iron ore; that should be resolved. This will be the right choice over curbing exports by imposing taxes. Thermal coal prices must be brought back to 2019 levels The price of thermal coal must be restored almost to near to 2019-20 level which has now increased by almost three times, mainly due to stagnant production in past years clubbed with the high price of imported coal. Its major impact is on the core sector such as power, steel, metal and cements which travels to the entire economy. For this, India must immediately increase coal production by minimum 20% through regulatory easements. Incremental production may be incentivised through fiscal tools. India has sufficient reserves of non-coking thermal coal but has limited reserves of coking coal. Steel industry uses both types of coal. For reducing import dependency, future capacity in steel may be diverted to the non-coking coal based technology on the best effort basis. The sales of sub-grade iron ore Iron ore is the principal raw material for steel making. For reducing its price, the mineral taxes in the shape of royalty and auction premium should be levied on the basic price (excluding mineral taxes) instead of IBM price (including mineral taxes). More so, IBM price is not consistent with actual sale price in most cases. Hence, mineral taxes should be levied on the actual and basic sale price instead of IBM price similar to GST and excise duty. Prevailing system is causing a compounding effect of the mineral taxes. The price of iron ore has inflated to record high levels. Same is the case with other minerals including coal. The aforementioned method of taxation is a great impediment in selling low/sub-grade iron ore in particular. After paying mineral taxes, the basic sale price comes to below production cost and at times, to a negative sale price. Hence, the miners are reluctant in selling low/sub-grade iron ore. As a consequence, new beneficiation plants are not coming up as per economic needs of the nation. Hence, more than 300 million tons of low/sub-grade iron ore is accumulated in the mines causing wastage of precious mineral resources. By and large, India must choose appropriate policy tools for controlling inflation without sacrificing exports and GDP. For intermediate products like iron ore, a calibrated curb in export may be chosen keeping a balance between the exports, GDP and inflation. The writer is an economist and the author of the book’ ‘Turn Around India: 2020- Surmounting Past Legacy’ SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/hul-ceo-sanjiv-mehta-coins-a-new-word-humbition-combining-humility-with-ambition/articleshow/92253088.cms">HUL CEO Sanjiv Mehta coins a new word - humbition, combining humility with ambition</a> <a href="https://www.businessinsider.in/business/corporates/news/theres-a-silver-lining-for-hotstar-in-losing-ipl-digital-rights-here-is-how-it-can-strengthen-its-counter-strategy/articleshow/92252808.cms">There’s a silver lining for Hotstar in losing IPL digital rights – here is how it can strengthen its counter-strategy</a>

India’s exports have a long way to go and the curbs are not helping

<ul><li><keyword id="2995316" type="PERSON" weightage="20" keywordseo="dailyhunt">Dailyhunt</keyword> has plans to launch an entire family of ‘Bharat’ apps in the near future, after the success of its nascent short-video streaming app Josh.</li><li>Founders Umang Bedi and Virendra Gupta claim that their back-end super app can churn out a new app every 42 to 72 hours but being careful about what they put out into the market.</li><li>In an exclusive interview with Business Insider, they spoke about Josh’s expansion plans, how Dailyhunt will take on Facebook and Twitter and what the future holds for India’s homegrown local language content giant as it looks at the next frontier of growth.</li></ul>India’s homegrown app Dailyhunt has plans to launch an entire family of apps in the future. Founders Umang Bedi and Virendra Gupta claim that their back-end super app can churn out apps every 42 to 72 hours. However, they are treading caution when it comes to the different areas they want to enter. “We’re being careful and choosing those opportunities, hopefully wisely, instead of flushing out half a dozen apps out there,” said Bedi in an exclusive interview with Business Insider. According to him, things like product-market market fit, size of the market, the effort put into making an app, and other factors are weighed against each other before anything formally hits the shelves. However, Gupta and Bedi hinted that soon ‘live’ and casual gaming may be among the new use cases that the team is edging to launch. “Think of us innovating on the fly very very quickly to drive multiple use cases for Bharat. No use case in the area of content isn’t something that we’re built or experimented with,” said Bedi. “We want to own the mind-share, time-share, and revenue-share of local language audiences across content on a family of apps,” he added. Aggressive growth plans for Josh Dailyhunt was already experimenting with multiple formats before it pushed out its new short-video streaming app Josh right before signing on as an associate sponsor for the Indian Premier League (IPL). “It took Dailyhunt a couple of years to hit 23 million. Josh did it in just a couple of days,” said Bedi. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Metric for Josh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Within 45 days of launch </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">In the next 60-90 days </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total app downloads </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50 million+ </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Daily Active Users (DAU) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23 million+ </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Time spent per DAU </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21 minutes+ </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40 minutes </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Video plays per day </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 billion+ </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UGC content creators on the platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 million+ </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10-15 million </td></tr></tbody></table>Source: Dailyhunt The app saw massive growth in the first few days of its launch and has plans to double those numbers within the next 60-90 days. Josh and Dailyhunt have the same super app at the back-end Josh may be the new kind on the block, but at the back-end it’s built on the same tech stack as Dailyhunt. “It’s a super app in the back-end where there’s common artificial intelligence (AI) and machine learning (ML) reinforcement learning based local language tech stack, common user identity platform, common ad-tech stack and a common go-to-market (GTM) team,” explained Bedi. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dailyhunt’s local language tech stack </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Metrics </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AI/ML recommendation models </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">80 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Training dataset </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100 million content pieces </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Usr interactions tracked </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Languages processed </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Current database size </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.2 petabytes </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Database growth rate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.1 terabytes per day </td></tr></tbody></table> Using AI inputs like time of day, usage patterns, festivals, clusters and social signals, Dailyhunt is able to categorise content — like detect whether it’s about dancing, pets, pranks and other things. Currently Dailyhunt has a clickthrough rate of around 20%, which is considered to be the gold-standard in the industry. They claim they’re only ones — aside from Google and Facebook — to have their own ad-tech online real-time auction bidding engine. <div type="image" title="Dailyhunt rev" msid="78250271" hostid="261" caption="&amp;lt;p&amp;gt;Dailyhunt&amp;#39;s revenue growth over the last three years&amp;lt;/p&amp;gt;"></div> Aside from big wigs like Coca Cola, Airtel, OnePlus, Maruti Suzuki, Xiaomi and others, Daily Hunt also has smaller brands like Dairy Day, Zophop, Dilbagh and others using its ad-tech platform. Dailyhunt is ready to pit itself against Facebook and Twitter Two years ago, Dailyhunt was India's largest local-language news aggregation platform before the founders thought it was time to switch gears and focus on more than just the news. “We wanted to be the largest local language platform to serve content, enable discovery, consumption and socialisation with the content,” said Bedi. <div type="image" title="Dailyhunt MAU growth" msid="78250306" hostid="261" caption="&amp;lt;p&amp;gt;Dailyhunt&amp;#39;s monthly average users (MAUs) over the last three years&amp;lt;/p&amp;gt;"></div> Come 2020, Dailyhunt is pitching to be a social networking platform. “We’ve recently launched a social feature where people can not only consume content but they can create, converse, comment, reposts and do all kinds of things that you can do on a Facebook or Twitter group,” said Gupta. 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India’s exports have a long way to go and the curbs are not helping

R P Gupta

EXCLUSIVE: Dailyhunt is curating an entire family of 'Bharat' apps — claims it can push a new mobile app every three days

Prabhjote Gill