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India becomes global investment hub for digital shopping

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With the backing of global investors for e-commerce companies, India has become the second-largest global venture capital investment hub for digital shopping companies in 2021 after the US.

The Indian e-commerce segment registered a whopping growth rate of 175 per cent and reached $22 billion from $8 billion in 2020.

The US which attracted $51 billion investments came first followed by China at third position with $14 billion and the UK at fourth position with $7 billion according to the London & Partners analysis of Dealroom.co investment data.

The data also indicates that the US and India are two of the world’s leading hubs for digital shopping companies with high levels of global investment and unicorns.

The reason for this kind of investment may be attributed to increasing demand for online purchases during a series of lockdowns across the world during the Covid-19 pandemic.

Within India, Bengaluru was on top globally with $14 billion worth of Venture Capital (VC) investments in digital shopping in 2021, followed by Gurugram at No. 7 with $4 billion and Mumbai at No. 10 with $3 billion.

The data also shows that Bengaluru ranked number five among cities with the potential for future unicorns, just behind London.

Three of the 15 global cities with the highest count of current unicorns are in India Bengaluru at No. 6 with 19 unicorns in 2021 (up from three in 2020, Gurugram at No. 7 with 13 unicorns (up from 3 in 2020) and Mumbai at No. 14 with 7 unicorns.

London is the leading European hub for digital shopping investment, with a record $5 billion raised by digital shopping companies based in the capital in 2021.
Overall, global venture capital investment into digital shopping more than doubled in 2021 following a significant consumer shift to e-commerce platforms during the pandemic. The total global VC investment for 2021 stood at a record $140 billion, up from $68 billion in 2020.

India’s e-commerce market is likely to surpass $120 billion in transactional value, a study by FIS, an American financial technology company, forecasts. Between 2021 to 2025 the ecommerce market is expected to grow by 96 per cent, the growth driven by an increasing shift towards digital payments, according to the 2022 Global Payments Report by Worldpay from FIS, which offers a snapshot of the global payments landscape.

Riding on the global sentiment, Indian consumers are relying more on mobile commerce than desktop ecommerce. Globally, the transaction value from mobile devices accounted for 52 per cent of all e-commerce spending in 2021.

In India, consumers preferred to use digital wallets 45 per cent of the time, over debit, credit and charge cards for e-commerce payments, a trend common in Asia Pacific countries including China, Indonesia and the Philippines.

Regional wallets such as Paytm in India, and WeChat and AliPay in China, are major factors for this, as they facilitate a diverse and competitive payments ecosystem in these countries.

While cash is still the leading in-store payment method in 2021, responsible for 37.1 per cent of transaction value, digital wallets are projected to overtake cash as the most popular in-store payment method by 2023, when they are expected to account for 30.8 per cent of point-of-sale (POS) transaction value. India’s POS market is expected to grow by 28.8 per cent to $1.08 trillion between 2021 and 2025.

In the backdrop of the Covid-19 crisis, while global investments depict a decline in Foreign Direct Investment (FDI) inflows, Indian prospects are bright owing to its sustained long-term growth trend.

According to the UN Conference on Trade and Development (UNCTAD), India’s large market and positive economic growth in the post-pandemic period will draw investments to the country.

Business

New TVS Apache RR 310 Hits Indian Market at Rs 2.75 Lakh: All You Need to Know

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TVS has introduced the 2024 edition of its flagship Apache RR 310 in India, starting at Rs 2.75 lakh (ex-showroom). The updated model brings several enhancements, including segment-first aerodynamic winglets integrated into the side fairing, aimed at improving stability and performance.

The latest version of the TVS Apache RR 310 comes with a starting price of Rs 2.75 lakh (ex-showroom) for the Racing Red model. However, this variant does not include the bi-directional quick-shifter. For those looking to add this feature, it will cost approximately Rs 17,000 extra. The 2024 lineup also introduces a new Bomber Grey color option, priced at Rs 2.97 lakh (ex-showroom), offering a stylish and performance-focused upgrade.

The 2024 TVS Apache RR 310 retains its 312cc single-cylinder, liquid-cooled engine with a 6-speed gearbox, but now offers improved performance. The updated model produces 37 bhp at 9,800 rpm and 29 Nm of torque at 7,900 rpm. TVS also claims that it accelerates faster than before, shaving 0.43 seconds off its 0-100 km/h time, making it a more exciting choice for riders looking for speed and agility.

The 2024 TVS Apache RR 310 keeps its familiar trellis frame, supported by upside-down front forks and a rear monoshock for improved handling. Braking is handled by disc brakes. It also comes with a 5-inch TFT display that offers Bluetooth connectivity and navigation.

The updated electronics package includes new features like tyre pressure monitoring, cornering ABS, traction control, and cruise control. While the overall design remains similar, it gets refreshed decals and is available in three colours: Bomber Grey, Racing Red, and Race Replica.

TVS has introduced two performance kits for the new Apache RR 310: the Dynamic kit, priced at Rs 18,000, and the Dynamic Pro kit at Rs 16,000. The Dynamic kit enhances the bike’s handling with fully adjustable suspension, a tyre pressure monitoring system, and a brass-coated drive chain. The Dynamic Pro kit, meanwhile, focuses on safety and stability, offering race-tuned dynamic stability control for better on-road performance. These upgrades allow riders to customize their experience for both performance and safety.

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Business

Jio network down: users are facing problems

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Some Jio users in Mumbai are experiencing network outages, causing the issue to trend on Twitter. According to reports on social media, the disruptions have affected specific areas in the city. One user claimed that the Reliance Jio IDC Data Centre caught fire, potentially causing service interruptions. The user tweeted, “Reliance Jio IDC Data Centre caught fire, some services down due to that.

The network of Reliance Jio, one of the leading telecom companies in India, has been down for the last 1 hour. So users are facing a lot of problems. Many have posted about this on social media and tagged Reliance Jio. Reliance Jio network is down since last 1 hour.

Due to this, many works of Jio users have been stopped. A user posted on X and informed that the Jio service has been shut down due to a fire in the IDC (data center). Repair work is going on here. The network will be restored soon. But Reliance Jio has not given any official information about this yet. Therefore, users are asking when the network will be restored.

Reliance Jio service has been discontinued. Most of the users have no signal in their mobiles. 20 percent reported internet connectivity disruption on Down detector. 14 percent people are facing problems in running Jio fiber. Reliance Jio’s website is also not working properly and users are unable to access the Jio app.

There are more than 10 thousand complaints on Downdetector around 12 noon. More outage issues have been reported from cities like Delhi, Lucknow and Mumbai. Users across the country are complaining about Jio service being down. Jio on X is also trending down. People are sharing memes for Jio.

Reliance Jio services have once again been suspended in many parts of the country. Today i.e. on 17th September it started from Mumbai, the financial capital of the country and now Jio is down in all the cities of the country. Earlier in May and June 2024 also, Jio services were suspended in Mumbai. Users are constantly complaining on social media about Jio being down but there is no concrete solution and assurance from the company yet.

Users on social media claim that Jio services have been suspended across Mumbai. There is a network problem for several hours. Many users have also complained about the broadband service. Outage tracker Downdetector has also confirmed Jio’s outage. According to Downdetector’s map, it has stopped in New Delhi, Lucknow, Nagpur, Cuttack, Hyderabad, Chennai, Patna, Ahmedabad, Kolkata, Guwahati.

More than 10 thousand people have complained on Downdetector in just 1 hour. On this site, 67 percent people complained about lack of signal, 20 percent about mobile internet and 14 percent about Jio Fiber.

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Business

‘Take A Trip To Vietnam For Your iPhone 16’: X User Proposes Cost-Effective Way To Buy The Latest Apple Smartphone

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Apple recently launched its latest iPhone series, the iPhone 16 series. In addition, the company also launched the latest Apple Watch along with the latest version of Apple AirPods.

Trip To Vietnam For Apple

Apple products from time immemorial have been known for their exorbitant and sky-high pricing. Many have often made memes about having to sell their organs to be able to afford one of their iPhones.

Now, with the latest launch, and X user has found a way to cut corners by taking a trip.

According to the user, an aspiring iPhone buyer in India should take a trip to the East Asian nation of Vietnam to be able to get the new iPhone 16 at a cheaper rate.

However, the user also notes that these savings can only be made, if the buyer is intending to buy the advanced iPhone 16 Pro iPhone 16 Pro Max.

Savings Only iPhone 16 Pro

The user said, “Plan your #iPhone16 purchase with a trip to #Vietnam and spend the same amount you would be spending buying it here in India.”

In addition, the user also added, “But the savings work only if you are planning to buy the #iPhone16Pro or the #iPhone16ProMax”.

In addition, the user also surmised an instance of users travelling to the UAE an purchasing these phones.

According to the user, the Visa fees & fight rates don’t make Dubai that lucrative unless flying somewhere via UAE or planning for the #iPhone16ProMax only”.

As per the statistics produced by the user, the most expensive iPhone 16 Pro Max will cost an Indian buyer Rs 1,44,900 a piece. In Vietnam, however, it would cost a buyer Rs 1,18,992.

This marks a difference of Rs 25,908. Meanwhile, in the UAE, particularly in Dubai, the same phone would cost the buyer Rs 1,16,550, marking a difference of Rs 28,350.

The iPhone series will be available in India from September 20, with the pre-order for the phone starting on September 13.

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