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.”
Business
India’s CPI inflation recorded at 1.33 pc for Dec, food inflation stays in negative zone

New Delhi, Jan 12: India’s inflation rate, based on the Consumer Price Index (CPI), was estimated at 1.33 per cent for December 2025, which is marginally higher than the corresponding figure of 0.71 per cent for November.
Food inflation remained in the negative zone during December at (-) 2.71 per cent, as prices of food goods fell compared to the same month of the previous year. Food inflation has now stayed negative for the seventh month in a row, easing the burden on household budgets. However, the figure for December was a tad higher than the (-) 3.91 per cent recorded for November.
The increase in headline inflation and food inflation during December 2025 is mainly attributed to an increase in inflation of personal care and effects, vegetables, meat and fish, egg, spices, and pulses, according to an official statement.
However, the overall outlook for inflation remains benign. The RBI’s monetary policy committee (MPC) last month slashed its forecast for India’s inflation rate for the financial year 2025-26 to 2 per cent from 2.6 per cent predicted in October due to the sharp decline in food prices and the GST rate cuts playing out.
RBI Governor Sanjay Malhotra announced a reduction in the repo rate by 25 basis points to 5.25 per cent from 5.5 per cent earlier, as inflation has come down and the monetary policy could focus on boosting growth.
Malhotra said that the surge in economic growth to 8.2 per cent in the second quarter of the current financial year and the sharp decline in inflation to 1.7 per cent provided a rare “Goldilocks period” for the Indian economy.
“The MPC noted that headline inflation has eased significantly and is likely to be softer than the earlier projections, primarily on account of the exceptionally benign food prices. Reflecting these favourable conditions, the projections for average headline inflation in 2025-26 and Q1:2026-27 have been further revised downwards.”
Malhotra also pointed out that core inflation (which excludes food and fuel) remained largely contained in September-October, despite continued price pressures exerted by precious metals. Excluding gold, core inflation moderated to 2.6 per cent in October. Overall, the decline in inflation has become more generalised, he added.
The RBI Governor observed that food supply prospects have improved on the back of higher kharif production, healthy rabi sowing, adequate reservoir levels and conducive soil moisture. Barring some metals, international commodity prices are likely to moderate going forward.
Business
MP Startup Summit 2026: CM Mohan Yadav hails India’s scientific heritage, innovative ideas

Bhopal, Jan 12: Chief Minister Dr Mohan Yadav on Monday emphasised India’s rich legacy of innovation while underscoring the pivotal role of startups in propelling the nation towards becoming the world’s top economy.
Addressing the Madhya Pradesh Startup Summit & Ecosystem Awards 2026 at Ravindra Bhavan, Bhopal, he highlighted forgotten contributions of Indian scientists and praised Prime Minister Narendra Modi’s efforts in fostering research and entrepreneurship.
Dr Yadav recalled the ground-breaking work of Sir Jagdish Chandra Bose, who in the late 19th century demonstrated that plants have life, sensitivity, and reactions to stimuli — experiments now validated by modern “gastography” showing 10,000 times higher frequency in plant responses.
He also noted Bose’s 1895 demonstration of microwaves in Kolkata, later adopted by Marconi for the Nobel Prize, and early semiconductor ideas, lamenting that post-Independence governments overlooked these due to resource constraints.
“Under the leadership of Prime Minister Narendra Modi, the country is changing,” Dr Yadav said, calling for applause for the PM’s initiatives in promoting research and startups, including a 2022 programme launched from Indore.
He showcased innovative startups, such as one developing a low-cost machine that harvests one acre of crops for just Rs 10 in an hour via a TV-screen-operated mini-tractor, addressing environmental and agricultural needs.
Dr Yadav expressed confidence that India, now the fourth-largest economy, will soon rank third and eventually first.
Chief Secretary Anurag Jain, addressing the gathering, commended the state’s proactive policies and ecosystem building, noting, “Madhya Pradesh’s focus on innovation, ease of doing business, and inclusive growth is positioning it as a key player in India’s startup journey.”
MSME Minister Chetanya Kahsya praised the summit’s interactive platform, stating, “Such events foster collaboration between government, entrepreneurs, and investors, accelerating Madhya Pradesh’s emergence as a startup hub.”
The two-day summit, powered by the Madhya Pradesh Startup Policy 2025, has brought together innovators, investors, and ecosystem leaders to drive inclusive, future-ready growth.
Business
Sensex, Nifty open lower amid rising geopolitical tensions

Mumbai, Jan 12: The Indian benchmark indices continued their decline on Monday amid rising geopolitical tensions and uncertainty surrounding the India-US trade deal.
As of 9.22 am, Sensex slipped 95 points, or 0.44 per cent to 83,212 and Nifty eased by 95 points, or 0.37 per cent to 25,588.
Main broad-cap indices were in line with benchmark indices, with the Nifty Midcap 100 down 0.33 per cent, while the Nifty Smallcap 100 lost 0.57 per cent.
Except metal and FMCG, all other sectoral indices were in the red zone — with pharma, realty and media down over 1.4 per cent.
Immediate Nifty support lies at 25,500–25,600 zone, while a sustained breakout above 25,800–25,850 is essential to stabilise near-term momentum, market watchers said.
The US administration’s strange comments are complicating the US-India trade deal, they added. The Venezuelan crisis, Iran crisis, and US President Donal Trump’s threats on Greenland are also worrying the stock markets, raising the India VIX, indicating high volatility.
Investors are also keen on an expected ruling on Trump tariffs from the US Supreme Court which didn’t materialise last week.
Therefore, Q3 results and management commentary from the tech majors and other large caps in banking will influence the market trend in the near-term, analysts said.
Asia-Pacific markets traded in the green zone during the morning session, tracking Wall Street gains from last week after a US job report showed that the unemployment rate fell, indicating resilience in the labor market.
In Asian markets, China’s Shanghai index gained 0.75 per cent, and Shenzhen added 1.31 per cent, Japan’s Nikkei advanced 1.61 per cent, while Hong Kong’s Hang Seng Index gained 0.74 per cent. South Korea’s Kospi advanced 1.08 per cent.
The US markets were mostly in the last trading session as Nasdaq added 0.82 per cent. The S&P 500 gained 0.65 per cent, and the Dow moved up 0.48 per cent.
On January 9, foreign institutional investors (FIIs) sold net equities worth Rs 8,808 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 15,700 crore.
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