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New Delhi, Feb 27 () New Zealand on Thursday said it will look forward to a bilateral trade agreement with India in case New Delhi does not join the China-backed mega trade deal RCEP. The Narendra Modi-led government in November decided not to join Regional Comprehensive Economic Partnership (RCEP) deal as negotiations failed to satisfactorily address New Delhi's "outstanding issues and concerns". However, the possibility of India joining the trade pact is open provided its concerns are addressed by the member nations. "I met with your minister of commerce (Piyush Goyal) yesterday and we discussed those issues. Of course, New Zealand and India have been busy for some years negotiating through the rubric of RCEP and we will know by the end of the year as to whether India chooses to stay out or participate in RCEP. "But if they don't participate in RCEP then we will obviously want to pursue a trading relationship through a different means," New Zealand's Minister for Trade and Export Growth David Parker said at a Ficci conference. Responding to issues concerning the opening of domestic dairy sector, he said New Zealand appreciates the concerns of the Indian dairy industry but expressed hope that some solutions could be arrived at through negotiations. "We know it is an issue of sensitivity to the Indian government on behalf of the people. We know that there is a real issue for India. The only way that a deal is eventually done is if it is mutually beneficial. How might that be done in respect of dairy. Well it would be good if it were a fact based argument". India's dairy industry -- the largest in the world -- had expressed apprehension that the RCEP trade pact would severely impact dairy farmers because of cheaper imports from Australia and New Zealand. Observing that New Zealand was disappointed after India did not join the conclusion of the RCEP negotiations, Parker said the disappointment was not only for lost bilateral opportunities but also because the nation believes there is a strategic benefit for India of being on the table when the regional trade rules are made. "We obviously seek a trade agreement that provides the framework for economic engagement that would facilitate more trade and investments," New Zealand's Minister for Trade and Export Growth said. The RCEP negotiations were launched by leaders from 10 ASEAN member states and six other countries -- India, China, Japan, South Korea, Australia and New Zealand during the 21st ASEAN Summit in Phnom Penh in November 2012. RSN CS MR

New Zealand for bilateral trade pact with India if New Delhi does not join RCEP

India is organizing the 'Global <keyword id="22243491" type="General" weightage="20" keywordseo="IndiaAI-Summit-2024" source="keywords">IndiaAI Summit 2024</keyword>' under the aegis of the Ministry of Electronics and Information Technology, scheduled for July 3-4 in New Delhi. According to a press release by the Ministry of Electronics and IT, the summit aims to foster collaboration and facilitate knowledge exchange among international <keyword id="22243492" type="General" weightage="20" keywordseo="AI-experts" source="keywords">AI experts</keyword>, reinforcing India's dedication to ethical and inclusive AI growth. The Global IndiaAI Summit 2024 will serve as a vital platform for stakeholders from diverse sectors, including science, industry, civil society, governments, international organizations, and academia. These experts will convene to discuss key AI issues, share insights, and address the challenges faced by the <keyword id="20055332" type="General" weightage="20" keywordseo="AI-ecosystem" source="keywords">AI ecosystem</keyword>. By hosting this summit, India is reaffirming its role as a proactive player in the global AI community, focusing on advancing technologies that are safe, secure, and beneficial to society. As the lead chair of the Global Partnership on Artificial Intelligence (GPAI), India is set to host member countries and experts to advance GPAI's commitment to trustworthy AI practices. The summit aims to showcase India's capability to lead in the AI domain and emphasizes the country's goal of ensuring that AI benefits are accessible to all, thereby contributing to the nation's socio-economic development. Central to the summit is the <keyword id="20869035" type="General" weightage="20" keywordseo="IndiaAI-Mission" source="keywords">IndiaAI Mission</keyword>, an initiative designed to build a comprehensive ecosystem that promotes AI innovation across the country. This mission focuses on democratizing access to computing resources, enhancing data quality, developing indigenous AI capabilities, attracting top AI talent, fostering industry collaboration, providing risk capital to startups, ensuring the societal impact of AI projects, and promoting <keyword id="20750054" type="General" weightage="20" keywordseo="ethical-AI-practices" source="keywords">ethical AI practices</keyword>, read the press release. The IndiaAI Mission is built upon seven key pillars, each targeting a crucial aspect of AI development and deployment. The first pillar, IndiaAI Compute Capacity, aims to establish a scalable AI computing ecosystem with over 10,000 GPUs through public-private partnerships. This will include the creation of an AI marketplace offering AI as a service and pre-trained models, providing essential resources for AI innovators and researchers. The second pillar, IndiaAI Innovation Centre, focuses on developing and deploying large multimodal models (LMMs) and domain-specific foundational models tailored to the unique needs of India's diverse industries and sectors. The third pillar, IndiaAI Datasets Platform, seeks to streamline access to high-quality non-personal datasets through a unified platform. This initiative will support Indian startups and researchers by providing seamless data access, thereby aiding in the development of robust AI models. The fourth pillar, IndiaAI Application Development Initiative, aims to promote AI applications across critical sectors by addressing problem statements from various government bodies and institutions, focusing on creating impactful AI solutions for large-scale socio-economic transformation, read the press release. The fifth pillar, IndiaAI FutureSkills, is dedicated to reducing barriers to AI education by increasing the availability of AI courses at different academic levels and establishing Data and AI Labs in Tier 2 and Tier 3 cities. This effort is crucial for building a steady pipeline of skilled AI professionals, ensuring that talent development keeps pace with technological advancements. The sixth pillar, IndiaAI Startup Financing, supports deep-tech AI startups by providing streamlined access to funding and risk capital, nurturing a vibrant ecosystem of AI startups that drive technological advancements and economic growth. The seventh pillar, Safe &amp; Trusted AI, emphasizes responsible AI development through the implementation of projects focused on ethical AI practices. This includes developing indigenous tools and frameworks and establishing guidelines for the transparency and trustworthiness of AI technologies. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank">Vraj Iron and Steel IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a>

India to host Global India AI Summit 2024 in New Delhi on July 3-4

<keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword> [<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>], January 15 (<keyword id="19904948" type="General" weightage="20" keywordseo="ani" source="keywords">ANI</keyword>): India's trade performance in December witnessed a nuanced pattern, with the overall exports, encompassing both <keyword id="46477" type="General" weightage="20" keywordseo="merchandise" source="Orion">merchandise</keyword> and services, declining to USD 66.33 billion compared to USD 69.29 billion in December 2022, as per data released by the <keyword id="19910473" type="General" weightage="20" keywordseo="commerce-ministry" source="keywords">Commerce Ministry</keyword>. However, a closer look at the sector-wise breakdown reveals divergent trends. Merchandise exports in December demonstrated resilience, growing to USD 38.45 billion, a slight increase from USD 38.08 billion in December 2023. This positive momentum in merchandise exports highlights certain sectors' ability to navigate global challenges and capitalize on opportunities. On the other hand, services exports experienced a dip in December, reaching USD 27.88 billion, down from USD 31.19 billion in the same period last year. The decline in services exports reflects the broader economic challenges and global uncertainties affecting this sector. Services imports, too, registered a decline in December, reaching USD 13.25 billion compared to USD 15.81 billion in December 2023. This reduction in service imports could be a response to various economic factors and changing global dynamics. The overall December imports, considering both merchandise and services, also saw a decline, totalling USD 71.50 billion, down from USD 77.03 billion in December 2023. This decline in imports might be attributed to a combination of factors, including evolving market conditions and economic considerations. Despite the nuanced trade dynamics, the December trade deficit narrowed to USD 5.17 billion, showcasing a positive trend compared to USD 7.75 billion in December 2022. The reduced trade deficit suggests a more balanced trade scenario, where the decline in imports might have contributed to a healthier trade position. These figures depict a complex trade landscape, reflecting the intricate interplay of global economic conditions, sector-specific challenges, and India's adaptability in the face of evolving trade dynamics. The Commerce Ministry's data offers valuable insights into the intricacies of India's trade performance, providing a basis for further analysis and strategic decision-making. (ANI)

India's December trade data: Overall exports declined, merchandise exports grew

<keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword>, <keyword id="20034542" type="General" weightage="20" keywordseo="kia-india" source="keywords">Kia India</keyword> on Friday said it is planning to have around 700 sales and service touchpoints in 300 cities by the end of the year. The automaker, which sells models like <keyword id="20037256" type="General" weightage="20" keywordseo="seltos" source="keywords">Seltos</keyword> and Sonet, has 522 such touchpoints across 236 cities. The company said it is focussed on strengthening its presence in Tier-1 and Tier-2 markets, contributing 40 per cent to its total network strength. <keyword id="19997865" type="General" weightage="20" keywordseo="kia" source="keywords">Kia</keyword> <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> is also focused on expanding its touchpoints in the Tier-4 and upcountry markets, it added. "We have expanded our touchpoints network from 285 to 522 since starting our operations in India. As part of Kia's 2.0 strategy, we are aiming to close the year with over 700 touchpoints, thereby making Kia more accessible to our esteemed customers," Kia India National Head Sales &amp; Marketing Hardeep Singh Brar said. The automaker is also committed to sustainability by introducing the green workshop concept and encouraging all its dealer partners to transition to eco-friendly workshops, he added. Kia India also intends to increase its certified pre-owned network to 100 outlets by the end of 2024. It currently has 59 such outlets across the country.

Kia India looks to expand sales, service network to 700 touchpoints by year-end

The consumers may end up paying more for shopping online on <keyword id="19910508" type="General" weightage="20" keywordseo="amazon-india" source="keywords">Amazon India</keyword> for certain products as the company is set to revise its seller fee structure from April 7. In a recent notification, the e-commerce behemoth has informed sellers about revised structure that is likely to result in price increase for several items. The last fee revision was in May 2023. The revised structure "does not include the 18 per cent GST that will be levied on the seller fee", according to reports. A seller needs to pay a fee to <keyword id="19904608" type="General" weightage="20" keywordseo="amazon" source="keywords">Amazon</keyword> for the items sold on the Amazon platform. Among the hiked fee structure, luxury beauty has been increased from 5 per cent to a tiered system that goes up to 10 per cent. Sleepwear category will witness a seller fee hike from 11-15 per cent to 13.5-19 per cent, while the home improvement category will see an increase from 9 per cent to 13.5 per cent). Amazon <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>, however, has also decreased fee for categories such as baby apparel products, inverter and batteries and some others. The company did not immediately comment. The revised seller fee structure is likely to impact companies like <keyword id="19951130" type="General" weightage="20" keywordseo="mamaearth" source="keywords">Mamaearth</keyword> more which do bulk selling of their products on Amazon. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank">OnePlus 12 review: A feature-packed device with promising battery back-up</a><a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-pro-to-launch-in-india-on-april-3-everything-we-know-so-far/articleshow/108667275.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-pro-to-launch-in-india-on-april-3-everything-we-know-so-far/articleshow/108667275.cms" target="_blank">Motorola Edge 50 Pro to launch in India on April 3 – Everything we know so far</a><a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank">JSW Group and SAIC Motor’s JV ‘JSW MG Motor India’ set to up production to 3 lakh vehicles a year with a new car every 3-6 months</a>

Amazon India's revised seller fee next month may up prices for certain products

With an aim to offer unique health, fitness and trendy feature, <keyword id="1188106" type="PERSON" weightage="20" keywordseo="Gionee">Gionee</keyword> on Thursday launched three new smartwatches for Indian consumers. The new watches —Stylfit GSW6, GSW7 and GSW8 — are priced ₹6,999, ₹2,099 and ₹8,999, respectively. The watches come loaded with efficient health trackers including an SPO2 monitor, real-time heart rate monitor, calorie meter, sleep quality tracker and other stunning features. "Being healthy and fit has become more consequential than ever before," <keyword id="1031689" type="COMPANY" weightage="20" keywordseo="Pardeep">Pardeep</keyword> Jain, Managing Director, <keyword id="304975" type="PERSON" weightage="20" keywordseo="JIPL">JIPL</keyword> that manages Gionee in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>, said in a statement. "In recent times people have started considering smart wearables as an integral part of the modern lifestyle giving the much-needed boost to India's promising smart wearable market amid the pandemic," Jain added. Stylfit GSW8 boasts dedicated Bluetooth for calling and music. The device has an impressive built-in speaker and a microphone to talk through the watch when you get a phone call. It also comes with unique health and fitness features such as a heart rate monitor, menstrual cycle tracker, sleep monitor, pedometer, calorie counter and more. The smartwatch also supports multi-sport modes such as outdoor run, outdoor walk, indoor run, indoor walk, hiking, stair stepper, outdoor cycle, stationary bike, elliptical, rowing machine and a lot more. Stylfit GSW6 is feature-rich and power-packed with dedicated Bluetooth for calling and music. The device has an impressive built-in speaker and a microphone to make calling smarter than ever and take a seamless music experience to the next level. With this, one can measure blood oxygen saturation level in real-time, monitor heart rate along with other health features such as sleep monitor, pedometer, calorie counter, etc. GSW7 is an all-rounder fitness companion. Right from SpO2 monitor to heart rate monitor, it has everything to keep a constant health check and ensure a fit lifestyle, the company said. The devices are also compatible with Android Version 4.4 or above; iOS version 9.0 or above. SEE ALSO <a target="_blank" class="c-link" href="https://www.businessinsider.in/india/news/india-covid-vaccine-policy-changes-june-21-yoga-day-pm-modi/articleshow/83308314.cms">These are the changes in India’s vaccine policy that will kick in from June 21</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/stock-market/news/pnb-housing-finance-shares-hit-upper-circuit-six-days-in-a-row-but-the-potential-upside-could-be-limited-now/articleshow/83305929.cms">PNB Housing Finance shares hit upper circuit six days in a row, but the potential upside could be limited now</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/india/news/heres-why-fuel-prices-in-india-may-not-come-down-in-a-big-way/slidelist/83299743.cms">Here’s why fuel prices in India may not come down in a big way ⁠— at least not this year</a>

Gionee unveils smartwatches with SpO2 tracking, IP67 certification and more

<keyword id="6358777" type="General" weightage="20" keywordseo="new-delhi" source="Orion">New Delhi</keyword>, May 24 (PTI) Shares of <keyword id="6358361" type="General" weightage="100" keywordseo="biocon" source="Orion">Biocon</keyword> climbed nearly 8 per cent on Wednesday after the biotechnology major's consolidated net <keyword id="6362247" type="General" weightage="20" keywordseo="profit" source="Orion">profit</keyword> increased 31 per cent for the March quarter. The stock gained 7.12 per cent to Rs 259.50 on the <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword>. At the NSE, it rallied 7.61 per cent to Rs 260.60. Biocon on Tuesday said its consolidated net profit increased 31 per cent to Rs 313 crore for the March quarter on the back of robust sales. The company had reported a net profit of Rs 239 crore in January-March 2021-22. Total revenue increased to Rs 3,929 crore in the fourth quarter as against Rs 2,476 crore in the year-ago period, Biocon said in a statement. For the year ended March 31, 2023, the company reported a consolidated net profit of Rs 463 crore as against Rs 648 crore in 2021-22. Total revenue, however, increased to Rs 11,550 crore as compared with Rs 8,397 crore in FY22. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/google-pixel-6a-vs-pixel-7a-smartphone-comparison-with-price-and-features/articleshow/100177889.cms">Google Pixel 6a vs Pixel 7a: Is Google's latest mid-ranger worth the extra ₹12,000?</a>

Biocon shares rally nearly 8 pc after Q4 earnings

Chinese telecom giant <keyword id="6357456" type="ORGANIZATION" weightage="20" keywordseo="huawei">Huawei</keyword> has sought to allay spying concerns by offering to sign a “no backdoor,” agreement with the Indian Government. Huawei’s offer comes amidst the increased tensions between the United States of America and China following the <a href="https://in.pcmag.com/mobile/130453/google-pulls-huaweis-android-license">US trade ban</a>. The India Government is currently evaluating the process of <keyword id="764355" type="PERSON" weightage="20" keywordseo="5G">5G</keyword> testing and deployment across the country, a technology which Huawei is a purveyor of. In a statement to The Economic Times, Jay Chen, the Chief Executive of the India operations said, “I would like to propose to the industry, no matter which country you are from, let's sign the ‘no backdoor agreements’ with our customers and the Indian government to give the commitment, confidence and trust.” “I am ready to sign one today.”, Chen reiterated, “We encourage other vendors and OEMs (original equipment manufacturers) to sign these pacts,” he added. Huawei expresses commitment against spying Chen’s latest statement comes a month after Huawei chairman Liang Hua signaled his company’s willingness to sign similar agreements with governments across the world. Hua <a href="https://www.hongkongfp.com/2019/05/15/huawei-chief-liang-hua-says-firm-ready-sign-no-spy-no-back-door-deal-uk/">said</a>, “We are willing to sign ‘no-spy’ agreements with governments, including the UK government, to commit ourselves, to commit our equipment to meet the no-spy, no back-door standards.” Ready to move Indian data back to India With the Indian Government preparing to present the Data Protection Bill in the Parliament, Chen stated that his company was ready to move Indian users’ data to Indian shores. “We give this commitment that we will store everything locally in India gradually. Some of the servers are in Singapore and some are in India. We will bring servers to India even if India doesn't ask for it,” he elaborated. Chen’s comments ahead of Pompeo’s visit While Huawei has been globally embroiled in a struggle to assuage spying concerns, Chen’s statements come ahead of US Secretary of State <keyword id="3109665" type="PERSON" weightage="20" keywordseo="Mike-Pompeo">Mike Pompeo</keyword>’s visit to India. The US has actively encouraged allies to seek alternatives to prevent Huawei from deploying their 5G network infrastructure, citing spying concerns. Notably, the USA, Australia and more recently, New Zealand have banned Huawei from taking part in 5G trials. Indian IT Minister Ravishankar Prasad has recently announced that the 5G trials would begin in India with telcos Airtel, Vodafone-Idea and Reliance Jio participating in them. India to remain non-committal on Huawei ban, for a while at least A recent <a href="https://www.livemint.com/companies/news/india-may-remain-non-committal-on-huawei-during-pompeo-s-visit-1561298563801.html">report</a> has revealed that India could remain non-committal on the Huawei ban during Pompeo’s visit. An anonymous government official was quoted saying that India would be on a “listening mode only”, and that the administration was in “no hurry to take a final call”. Huawei has sought the Indian government to take an “informed decision”.

Huawei plays hardball with India on the day Mike Pompeo arrived in New Delhi

<ul><li>According to a survey by Monster.com, in the last six months hiring in these two cities went up by 11% and 5% respectively. </li><li>Hiring is higher in Tier 2 cities like Baroda than metros like Delhi or Mumbai.</li><li>As many as 27 sectors in India including automobile, agriculture industry, and the consumer goods industry faced the slowdown with metros bearing the most</li></ul>Those who are looking to shift cities looking for job should head to Baroda and Ahmedabad as they are top two job destinations. According to a survey by Monster.com, in the last six months hiring in these two cities went up by 11% and 5% respectively. There has been a tectonic shift in job growth geographically too. "Tier 2 cities led the demand, sectors like retail, telecom, and professions, including hospitality and travel and finance and accounting. There are certain sectors including agro-based industries, automotive and consumer goods and FMCG that need attention to revive demand," said Krish Seshadri, CEO, APAC &amp; Gulf – Monster.com Both Mumbai and Bangalore grew at 0% and 1% respectively in the first half of 2019, the report said. Kochi and Chennai too have fewer jobs as hiring de-grew by 1% each. Chandigarh however tops the list with 7% de-growth, as per online hiring demand that jobs portal that Monster observed. Hiring in cities like Delhi and Hyderabad grew by 3% percent, and Bangalore was at 1%. Overall however the online hiring went up. "The online hiring demand has witnessed a 16% increase between the first half of 2018 and 2019,” Krish Seshadri, CEO of APAC and Gulf – Monster.com said. As many as 27 sectors in India including automobile, agriculture industry, the consumer goods industry are affected by slowdown with metros bearing most of the brunt. The worst however is the agriculture industry saw a steep decline of 51% in hiring between January and June 2019. However, the telecom industry which is looking forward to growth in 5G, has registered a healthy 22% growth. But it is retail which topped the list with 27%.

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New Zealand for bilateral trade pact with India if New Delhi does not join RCEP

PTI

India to host Global India AI Summit 2024 in New Delhi on July 3-4

ANI

India's December trade data: Overall exports declined, merchandise exports grew

ANI

Kia India looks to expand sales, service network to 700 touchpoints by year-end

PTI

Amazon India's revised seller fee next month may up prices for certain products

IANS

Gionee unveils smartwatches with SpO2 tracking, IP67 certification and more

IANS

Biocon shares rally nearly 8 pc after Q4 earnings

PTI

Huawei plays hardball with India on the day Mike Pompeo arrived in New Delhi

BI India Bureau

Want a job? Baroda and Ahmedabad are hiring the most while Mumbai has stagnated

Preeti Soni

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