- Tuesday, January 14, 2025
By: Shubham Ghosh
Here are news related to Indian economy and business for Thursday, March 23, 2023:
With the cricketing world gearing up for the Indian Premier League (IPL) beginning on March 31, Jio has come up with new cricket plans for new and existing users, ANI reported. With truly unlimited True-5G data that comes with all the plans, Jio users can watch live matches through multiple camera angles in 4K clarity across screens. The plans are designed keeping in mind the immersive experience which cricket lovers deserve, a Jio release said. It said the Jio Cricket plan comes packed with the highest data offering – 3 GB/day plus additional free data vouchers to ensure a seamless streaming experience.
The Narendra Modi government on Thursday launched a digitised claim settlement module — DigiClaim — under the Pradhan Mantri Fasal Bima Yojana (PMFBY) which aims at helping farmers receive the disbursed amount electronically, like in the case of PM-Kisan, The Hindu BusinessLine reported. It has been made operational in six Indian states as of now with demonstration of actual transfer of claims in bank accounts of beneficiary farmers. “It is a matter of pride for our ministry to have taken a revolutionary step in ensuring farmers can receive claim amounts digitally in a time-bound and automated manner,” agriculture and farmers welfare minister Narendra Singh Tomar was quoted as saying by the news outlet after the launch.
India’s Tata Group is considering injecting another $2 billion (£1.6 billion) into its super app venture to boost its digital business, Bloomberg News reported on Thursday, citing informed sources. The funds would bolster the group’s online platform Tata Neu improve its digital offerings, fix technical glitches, and meet any new spending needs, according to the report. The injection would take place over two years provided the deal goes through, it added. Tata Group has also asked Tata Digital to look for ways to boost the valuation of the super app, the report further said.
Real estate arm of the Piramal Group, Piramal Realty, and Jio-bp announced their partnership to provide world-class electric vehicle (EV) charging solutions across all Piramal’s residential projects in the Mumbai Metropolitan Region, a joint press release stated on Thursday, ANI reported. Jio-bp is a fuel and mobility joint venture between RIL and bp. As part of this partnership, customers and visitors to Piramal’s residential projects will be able to charge their electric vehicles seamlessly at Jio-bp pulse EV charging stations at sites with the Jio-bp pulse mobile app.
India’s e-commerce market is expected to grow from $83 billion (£67.3 billion) last year to $150 billion (£121.6 billion) in 2026, FIS 2023 Global Payments Report has said, the Hindu BusinessLine reported. The report added that the use of cash fell from 71 per cent of POS transaction value in 2019 to just 27 per cent in 2022. The Unified Payments Interface has helped e-commerce account-to-account (A2A) payments rise to $12 billion (£9.7 billion), which is up 53 per cent between 2021 and 2022. Digital wallets have also grown from five per cent to 35 per cent of POS value. The Global Payments Report also showed that by 2026, A2A transaction value is expected to grow by 195 per cent to $36 billion (£29.2 billion).
Opportunities for collaboration across Western Australian and Indian innovation ecosystems will be front and centre today, as innovation and the digital economy minister Stephen Dawson will give a keynote speech at Umagine Chennai 2023, ANI/NewsVoir reported. Dawson will highlight how the McGowan Government is supporting Western Australians to embrace partnerships with international innovators like those in India. Over three days, more than 10,000 delegates are expected to attend Umagine Chennai 2023. The event includes over 250 speakers across 130 plus sessions, and an exhibition featuring more than 150 exhibitors.
