BUSINESS
ONDC retail orders hit fresh peak of 30,000 despite lower spends on incentives
In the past few weeks, the number of daily retail orders on weekdays have hovered around the 9,000-10,000 levels as discounts on the network sharply declined.
BUSINESS
Sam Altman not the last word on India's AI aspirations: Rajeev Chandrasekhar
Altman has to be respected for his work. But we should not consider him anything other than an important man in AI, the minister tells Moneycontrol
BUSINESS
PM Modi wants to do in 10 years what China did in 30 years in electronics manufacturing: Rajeev Chandrasekhar
Apart from the likes of Dell and HP, small domestic players are showing interest in new IT hardware PLI, says the minister for electronics and information technology
BUSINESS
Union Minister Rajeev Chandrasekhar likely to meet OpenAI CEO Sam Altman on 8th June
At present, Altman is on a whirlwind world tour and is expected to have a pit stop of 36 hours in India, where top government officials are likely to meet him.
BUSINESS
OpenAI has a huge conflict of interest in calling for AI regulation: Zerodha CTO Kailash Nadh
Now that OpenAI has built its large language models, any regulation might have to grandfather them and give them an unfair advantage and a moat, says Zeodha CTO
BUSINESS
Most tech jobs in IT services can be automated with generative AI: Zerodha CTO
Zerodha Chief Technology Officer Kailash Nadh says it is only a matter of time before shareholders start asking IT firms why AI should not be deployed to reduce costs to a hundredth of current levels
BUSINESS
Rahul Yadav haggled with Info Edge to raise funds for Broker Network at 99% discount to last valuation
This was after the former Housing.com founder’s latest startup exhausted Rs 192 crore in the past 14 months and majority shareholder Info Edge asked it for granular financial details.
BUSINESS
PLI 2.0 for IT hardware to levy penalty on failure to reach manufacturing targets
PLI beneficiaries are required to use firmware for servers from Indian sources or other trusted foreign sources as certified by MeitY
BUSINESS
Inside Paisabazaar’s ongoing pivot to a recurring revenue model
PB Fintech’s lending marketplace targets earning a third of revenue from recurring revenue products in the next two to three years
BUSINESS
It’s good time to invest in startups, says Sanjeev Bikhchandani of Info Edge
Naukri founder explains in post-earnings call why he likes to keep a ‘seemingly large’ stash of cash on balance sheet
BUSINESS
On new IAMAI governing council's agenda: Google billing policy and anti-competitive framework
On May 25, industry body Internet and Mobile Association of India announced the results to its 24-member governing council, with homegrown companies winning all seats. Big Tech companies will have no representation in the governing council for the next two years
BUSINESS
Meta India's director legal among senior leaders affected by layoffs, say sources
Over the past few months, Meta has also implemented several measures to aggressively cut costs and become a more nimble organisation as the company embarks on what chief executive Mark Zuckerberg has dubbed the "year of efficiency".
BUSINESS
To OpenAI CEO Sam Altman’s AI regulation advice, India says it has own ideas
OpenAI chief Sam Altman is scheduled to visit India in June and may end up meeting top government officials as he is doing in other countries, amid a whirlwind world tour
BUSINESS
ONDC aims to hit 100,000 daily retail orders in next few months
A new version of the ONDC specs and network agreements is in the works to improve order tracking, provide more order fulfillment options, such as in-store pick-up for customers, and automate the grievance redressal process to a greater extent.
BUSINESS
Deepinder Goyal’s ESOPs cost Zomato Rs 143 crore in second half of FY23
Charges due to Zomato co-founder’s ESOPs accounted for 67.5% of the company’s ESOP costs during the period. Excluding KMPs, all other employees accounted for 26% — or Rs 55 crore — of the total ESOP charges in H2
BUSINESS
Confident of turning PAT positive next year, says PB Fintech's Yashish Dahiya
Policybazaar sees Rs 47 crore of premiums in March from high-value life insurance policies as income from such schemes will get taxed from the current financial year
BUSINESS
Food delivery average order values may remain flat over next year: Zomato CFO
Zomato’s AOV has marginally increased for the past year — growing 2 percent from Rs 398 in FY22 to Rs 407 in FY23 at a time when the food inflation index swung between 4.2 percent and 8.2 percent.
BUSINESS
Shein re-entry could be high tide that lifts all boats in e-commerce: Delhivery CEO
'There's no point driving fast if you don't know where you're going... turning on the growth tap for us is not going to be very hard," Delhivery CEO Sahil Barua says in earnings call
BUSINESS
ONDC's retail orders fell 50% last weekend as logistics discounts disappeared
At present, retail orders on ONDC mostly consist of food delivery, a significant but a lot smaller number of grocery orders and low-single-digit percentage points of home decor.
BUSINESS
Domino’s is coming to ONDC: tech integration has already started, says Jubilant exec
The pizza chain is also trying to cut delivery timelines by a third to 20 minutes and has seen customer satisfaction rise by 500-1,000 basis points on such deliveries
BUSINESS
India devises bumper scheme for laptop, tablet makers with four-fold jump in incentives
Preliminary discussions on the new incentives have already happened with major laptop producers like Apple, Acer, HP, Dell and they are evaluating it seriously, according to people in the know
BUSINESS
Info Edge, Shaadi, BharatMatrimony, MapMyIndia, Limeroad stage ghar wapsi to IAMAI to contest elections
This comes at a time when the industry body has been accused of "parroting" views of Big Tech companies
BUSINESS
IAMAI elections: Meta, Amazon, Google, Netflix throw hat in the ring
This comes at a time when the industry body has been accused of "parroting" views of Big Tech companies
BUSINESS
How Zomato-backed Magicpin is going all out on its ONDC bet
Co-founder and chief executive officer Anshoo Sharma says ONDC could be an inflection point for the hyperlocal commerce platform
