PhonePe Introduces Indus Appstore to Challenge Google and Apple Dominance
PhonePe, based in Bengaluru, has launched the Indus Appstore to challenge the dominance of Apple and Google. The platform is open to Android developers and offers free access for the first year, with nominal fees later. Unlike Google, it doesn't charge commissions on in-app purchases. Developers can integrate any payment gateway and access locally relevant features. PhonePe has also partnered with phone manufacturers for distribution. The Indus Appstore aims to provide a credible alternative to Google Playstore and offers developer tools and dedicated customer support based in India.
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Priority: Update your Nominee details
If you’re a Demat account holder, now would be a good time to check whether you’ve added nominees for mutual funds. The deadline to add these nominees for mutual fund investments ends on September 30. Account holders and mutual fund investors can nominate a beneficiary or opt out of it by submitting a declaration form. Failure to do so will lead to frozen demat accounts and folios, without an option to redeem investments.
Viacom18 Wins Against Cricket Pirates
The Delhi High Court has ruled in favor of Viacom18, granting a dynamic injunction against rogue websites illegally streaming cricket matches under Viacom18's broadcasting rights. This dynamic injunction allows the court to modify its orders as needed. Eight websites violating Viacom18's rights were initially ordered to be blocked, with the potential for more to be blocked in the future. Viacom18 holds broadcasting rights for Indian cricket matches until March 2028, but these matches were being unlawfully streamed. The court also called for legislative policies to address such disputes more effectively, given the rising cases of copyright infringement.
Tata Projects Awarded $2.75 Billion Contract for Micron's Semiconductor Plant in Gujarat
Tata Projects has secured a $2.75 billion contract to construct Micron Technology's semiconductor assembly and test plant in Sanand, Gujarat. This project, spanning 93 acres, marks India's first semiconductor unit. Micron will contribute $825 million, with the Indian government funding the rest in two phases. Phase-I, scheduled for completion by the end of 2024, includes 500,000 square feet of cleanroom space for Dynamic RAM (DRAM) and Non-Volatile Flash Memory (NAND) assembly and testing. The facility aims to produce indigenous microchips by December 2024, adhering to Green Building Council standards and incorporating water-saving technologies. It is anticipated to generate 5,000 direct jobs.
Indian Government Delays Laptop and Tablet Import License Requirement Amid Backlash
The Indian government has postponed the import license requirement for laptops and tablets by a year, following objections from the US and major tech companies like Apple, Samsung, and Lenovo. Instead, an import registration process will begin in November, aiming to regulate inbound shipments through an import management system managed by the Directorate General of Foreign Trade. After six to eight months, an import authorization mechanism will be established to grant quotas for authorized IT hardware importers, with a gradual reduction of import quotas over time. The government will reconsider implementing a licensing regime after the delay.
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X's India Policy Head Resigns
X, the microblogging platform, faces challenges as its Head of Policy for India and South Asia, Samiran Gupta, resigns. This departure coincides with India's upcoming elections and amid a legal dispute with the government over content removal. Gupta, the senior-most employee in X's India division, handled key content policy issues and government affairs. With 27 million users in India, the platform considers it a crucial market. Gupta's exit comes amid a legal battle to overturn a court decision branding X as "non-compliant" with content removal orders, which the platform fears could lead to further content blocking by the government.
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