Business
Indian app industry cheers South Korea move to rein in Apple and Google
The South Korean Parliament on Tuesday passed a Bill that is expected to rein in the control that Apple and Google have over payment systems in their app stores. The legislation is now awaiting the signature of the President of South Korea, Moon Jae-in.
This Bill is the first major legislation in the world to specifically target in-app markets and payment systems, even as market giants Apple and Google are facing global criticism for mandating the in-app use of their proprietary payment systems, and charging commissions of up to 30 per cent on the sale of apps and subscriptions through the app stores. Developers across the world have questioned these moves, and have demanded freedom to choose alternative methods of payment and distribution, such as via third-party app stores installed on the iOS or Android operating systems.
On Tuesday, South Korean legislators voted to approve amendments to their Telecommunications Business Act, with the intent of promoting fair competition in the app market industry. The bill prohibits app market business operators from taking advantage of their dominant status to force developers to use a specific payment system. It also prohibits app store service providers from engaging in activities such as preventing apps from registering on their stores, inappropriately delaying app registration and unfairly deleting apps from the app market. The move would also enable app developers to avoid the hefty commissions, and thus reduce costs both for developers and end-consumers.
In addition, the bill also empowers South Korea’s Minister of Science/ICT and the Korea Communications Commission to conduct an inquiry into the operations of the app market, to help the government more actively identify app-market related disputes and prevent acts that hinder fair competition and consumer interests.
This move comes as regulators worldwide have turned their attention to app stores and the fees they are charging developers. In the US, three senators introduced a bipartisan Bill earlier in August to promote fair competition by regulating in-app purchases and forcing dominant players from excluding third-party app stores from their operating systems. In India, the Competition Commission of India (CCI) has been investigating Google for potential abuses of its dominant position in the market to promote its proprietary payment services.
Apple and Google have both publicly opposed attempts to regulate their business practices through legislation.
Meanwhile, several industry players have reacted positively to the developments in South Korea. Rakesh Deshmukh, Co-founder & CEO of Indus App Bazaar, India’s largest third-party app store, shared his support for the move. He said that “policy needs to support innovation. We hope that Google enhances developer choice by allowing the listing of app distribution platforms like Indus App Bazaar on the Play Store. That would help us to formulate a B2C journey. I hope that App Stores like ourselves are allowed a fair play environment on Google Play and Android. Furthermore, in India, we need to look into developer choice for app distribution & payment gateways from a policy perspective.”
Sijo Kuruvilla, Executive Director of the Alliance of Digital India Foundation (ADIF), a startup alliance, welcomed the move by tweeting “Any legislation on the matter anywhere in the world will set a precedent for other nations to adopt and build on. To fair markets.”
Commenting on the developments from the US, the Coalition for App Fairness (CAF), an industry association of apps, reacted positively, terming it a momentous step forward, with Meghan DiMuzio, the Executive Director of CAF saying, “South Korean lawmakers and President Moon Jae-in have made history and are setting an example for the rest of the world. This law will hold app store gatekeepers accountable for their harmful and anti-competitive practices. The Coalition for App Fairness hopes U.S. and European lawmakers follow South Korea’s lead and continue their important work to level the playing field for all app developers and users.”
Match Group, that operates the largest portfolio of dating and social discovery apps such as Tinder and OKCupid, thanked South Korean Legislators in a statement, also saying that the legislation “… marks a monumental step in the fight for a fair app ecosystem…” and “…will put an end to mandatory IAP in South Korea, which will allow innovation, consumer choice, and competition to thrive in this market…” The statement adds, “We look forward to the bill being quickly signed into law and implore legislative bodies around the globe to take similar measures to protect their citizens and businesses from monopolistic gatekeepers that are restricting the Internet.”
Meanwhile, many Indian players have also noted these developments with interest, more so in context of opposition to Google’s “app tax” on in-app purchases and its impacts on local players.
NFN Labs, developers of popular apps like Screeny and Vookmark, who have had their share of run-ins with Google, Twitter, and Apple, have also been welcoming of alternative stores and choices of payment gateways.
Rajesh Padmanabhan, cofounder, NFN Labs in a statement said, “For our IoT product, Vookmark launching on Indus App bazaar has boosted our growth with a new set of engaged users…Additionally, we are exploring the ability to distribute and collect payments through alternative channels for our browser extensions, Android, and iOS packages. An alternative distribution that allows free uploads like Indus App Bazaar & lower commissions will certainly help to redirect funds for R&D and help us grow faster.”
The implications of the move in the Indian market remain to be seen, but Rakesh Deshmukh of Indus App Bazaar feels there is more that can be done with app distribution in India, “It’s about the choice of distribution; we all know that Google Play Store and App Store will continue to exist but we need more competition. We believe that choice is central to competition and hence when developers choose to distribute via our infrastructure, we allow a choice of payment gateway. This choice we believe would allow developers leverage to negotiate a reasonable fee with the two companies and payment gateway providers.”
New Delhi, Sep 13: In a significant development, Adani Power Ltd (APL) has signed a 25-year power supply agreement with Bihar State Power Generation Company Ltd (BSPGCL) to supply 2,400 megawatt (MW) of power to the state, the Adani Group’s firm said on Saturday.
Under the agreement, the India’s largest private sector thermal power generator would supply the proposed power from a greenfield ultra super critical plant to be set up at Pirpainti in Bhagalpur district of Bihar.
The development came after a Letter of Award (LoA) by BSPGCL to APL, on behalf of North Bihar Power Distribution Company Ltd (NBPDCL) and South Bihar Power Distribution Company Ltd (SBPDCL) in August.
Adani Power won the project by offering the lowest supply rate at Rs 6.075 per kWh.
“The company is planning to invest approximately $3 billion to build the new plant (800 MW X 3) and its supporting infrastructure under the Design, Build, Finance, Own, and Operate (DBFOO) model,” the APL informed.
The coal linkage for the power plant has been allocated under the SHAKTI Policy of the government of India.
During the construction phase, the project will generate around 10,000 to 12,000 direct and indirect employment. Once it becomes operational, it will employ 3,000 people.
APL aims to commission the plant in 60 months.
Earlier, in a first-of-its-kind adoption of the greenshoe option in a thermal power tender in India, APL was awarded a total of 1,600 MW capacity by MP Power Management Company Limited (MPPMCL).
The company received a LoA from MPPMCL, awarding 800 MW additional capacity under the ‘Greenshoe Option’.
Both units (800MW x 2) in Anuppur district, Madhya Pradesh, will be commissioned within 60 months of the appointed date.
APL said that it will invest around Rs 21,000 crore towards setting up the plant and related infrastructure.
The project is expected to generate direct and indirect employment of 9,000-10,000 during the construction phase, and 2,000 once in operation.
Business
Stock market ends week on positive note, clock 8 consecutive session gains despite uncertainties
Mumbai, Sep 12: The Indian equity indices ended the week on a positive note on Friday, maintaining the winning streak for the eight consecutive trading sessions despite geo-political uncertainties.
Optimism over a potential rate cut by the US Fed, positive developments in India-US trade talks and buying in defence stocks fueled the market sentiment.
Sensex settled the session at 81,904.70, up 355.97 points or 0.44 per cent. The 30-share index started trading with a decent gap-up at 81,758.95 against last day’s closing of 81,548.73. The index extended the momentum further amid positive global cues to hit an intraday high at 81,992.85.
Nifty closed at 25,114.0, up 108.50 points or 0.43 per cent.
The national market closed at a three-week high, supported by renewed global optimism over a potential Fed rate cut. Sentiments improved further on reports that the EU may reject U.S. tariff proposals on India for buying Russian oil, analysts said.
Progress in the US-India trade talks is also expected to keep the positive momentum intact in the near term. The defence sector outperformed, aided by the Indian procurement authorities beginning negotiations for six next-generation conventional submarines, analysts added.
BEL, Bajaj Finance, Bajaj FinServ, Axis Bank, Maruti, Tata Motors, ICICI Bank, L&T, Infosys, and PowerGrid were the top gainers from the Sensex basket. Eternal, Hindustan Unilever, Trent, Asian Paint, Bharati Airtel and ITC settled lower.
The majority of sectoral indices settled higher. Nifty Fin Services jumped 184 points or 0.70 per cent, Nifty Bank escalated 139 points or 0.26 per cent, Nifty Auto increased 122 points or 0.46 per cent, and Nifty IT settled the session 107 points or 0.3 per cent. Nifty FMCG fell.
Broader indices followed suit as well. Nifty Smallcap 100 moved 114 points or 0.64 per cent, Nifty Midcap 100 jumped 183 points or 0.32 per cent, and Nifty 100 closed 106 points or 0.41 per cent.
Rupee traded positively with gains of 0.18 per cent at 88.27 as mixed FII inflows supported sentiment.
“The dollar index remained weak below 98, providing additional strength to the rupee, while ongoing trade deal talks with the US also added optimism. Weakness in crude prices offered further minor support,” said Jateen Trivedi f LKP Securities.
Overall, the rupee looks set to gain some lost ground with scope to test 87.75 in the coming days, while 88.50 is seen as a reversal resistance zone, he added.
New Delhi, Sep 12: India and Iceland are set to enhance collaboration in fisheries and aquaculture, emphasising sustainable practices, zero-waste models, technology transfer and cluster-based development, the government said on Friday.
An Indian delegation, led by Dr. Abhilaksh Likhi, Secretary of the Department of Fisheries, completed a three-day official visit in Iceland’s Reykjavík to strengthen bilateral cooperation through strategic partnerships, investment promotion, and innovation exchange, an official statement said.
Likhi met with senior representatives of the Iceland Ocean Cluster and discussed cooperative innovation in fish processing, value addition, traceability, and certification. BRIM and Hampiðjan, leading Icelandic companies, provided insights into their advanced zero-waste models and cutting-edge processing technologies.
“Both sides explored investment opportunities for the Icelandic seafood processing industry in India, along with ways to deepen business-to-business (B2B) linkages,” the statement said.
The delegation also visited MATIS, Iceland’s top food and biotech R&D institute, to discuss cooperation in biotechnology, food safety, and marine resource utilisation. The visit opened new avenues for collaboration in research and technology transfer to bolster India’s fisheries value chain, the release added.
Emphasis was also laid on training and capacity building in deep-sea fishing technologies, alongside the adoption of advanced vessel monitoring and surveillance (VMS) systems, the ministry of Fisheries said.
The two sides explored opportunities in deep-sea fishing technologies, vessel monitoring systems, trout farming, and tuna innovations for India’s islands.
The government has adopted a cluster-based development model under the PMMSY, with 34 clusters notified so far. The cluster-based approach enhances competitiveness and efficiency by uniting geographically connected enterprises of all sizes – micro, small, medium, and large-across the entire value chain, from production to exports.
The country’s total fish production has grown by 104 per cent from 96 lakh tonnes in 2013–14 to 195 lakh tonnes in 2024–25, as inland fisheries expanded by 142 per cent for the same period from 61 lakh tonnes to 147.37 lakh tonnes, according to government data.
India stands as the second largest fish producing nation in the world, contributing around 8 per cent of global output.
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