Tag: India

  • India Parliamentary Panel Puts Meta on Notice Over PM Modi Video Removal, Threatens Safe Harbour Repeal

    India Parliamentary Panel Puts Meta on Notice Over PM Modi Video Removal, Threatens Safe Harbour Repeal

    Meta is facing mounting pressure in India after a video featuring Prime Minister Narendra Modi was temporarily removed from one of its platforms. The video showed the Prime Minister assuring students that strict action would be taken against those responsible for a paper leak incident. Following the brief takedown, a parliamentary panel has demanded an apology from Meta, warning that the company could lose its safe harbour protections if it fails to comply.

    The Parliamentary Committee on Communications and Information Technology issued a three-day ultimatum to Meta CEO Mark Zuckerberg, insisting on an apology to Prime Minister Modi. BJP MP Nishikant Dubey, who chairs the panel, called the removal an “attack on democracy.” The safe harbour clause currently prevents the Indian government from filing First Information Reports (FIRs) directly against social media platform officials. Removing that clause would allow the government to take legal action.

    Meta had previously apologized for what it described as a technical glitch that caused the video to be removed. However, India’s Ministry of Information and Technology found that explanation insufficient and unconvincing.

    CSAM Scrutiny Intensifies

    The video removal is not the only regulatory challenge Meta faces in India. Last month, the company came under scrutiny over child sexual abuse material (CSAM) on its platforms. Reports indicated that such content was appearing in paid advertisements on Instagram, prompting the government to send Meta a formal notice.

    According to data from the National Crime Records Bureau, 1,238 cybercrime cases were registered against children in 2024. Of those, 1,099 involved the publication or transmission of sexually explicit material involving minors. Nishikant Dubey warned social media platforms, stating: “Pornographic content cannot be allowed in India. Child sexual abuse material is a heinous crime. AI-generated fake videos of women or obscene depiction of women are also heinous crimes.” He added that this issue “is above political parties, religion, and caste because this country is extremely sensitive when it comes to children and women.”

    The Indian government has warned social media platforms to either comply with CSAM rules or face legal action.

  • India Proposes MDR on UPI Transactions Above Rs 2,000: What It Means for Users

    India Proposes MDR on UPI Transactions Above Rs 2,000: What It Means for Users

    India’s Unified Payments Interface (UPI) has transformed digital payments by offering free transactions, but it could soon see a major policy shift. The central government has proposed amendments to the Payment and Settlement Systems Act, 2007, allowing banks and payment service providers to charge a Merchant Discount Rate (MDR) on select UPI transactions in the future.

    The final decision is pending, but the proposal suggests an MDR of 0.25% to 0.4% for merchant UPI transactions above Rs 2,000, while person-to-person (P2P) transfers would remain free. Government officials have not set a timeline for implementation.

    Impact on High-Value Transactions

    MDR is a fee merchants pay to banks and payment service providers for processing digital payments. Unlike UPI, credit and debit card payments already include MDR, typically borne by the merchant rather than the customer.

    According to official estimates, only 5% of all UPI transactions exceed the proposed Rs 2,000 threshold. However, these high-value transactions account for nearly 65% of total transaction value, presenting a significant revenue opportunity for the payments ecosystem.

    UPI continues to grow rapidly, facilitating approximately 23.7 billion transactions worth Rs 29.9 lakh crore, cementing its status as one of the world’s largest real-time payment networks.

    An official explained the limited consumer impact: “Even if implemented, 95% of transactions will not face the merchant discount rate. Besides, not all businesses will pass on the fees, which will be a small amount.”

    Long-Term Industry Prospects

    Industry executives believe allowing a limited MDR on high-value merchant transactions could create a more sustainable business model for payment companies. Since UPI currently generates little direct transaction revenue, banks and payment providers argue that additional income would fund technology upgrades, improve payment infrastructure, and support future innovation.

    According to Jefferies’ analysis, merchant UPI transactions above Rs 2,000 represent roughly 67% of merchant payment value despite accounting for only about 4% of transaction volume. The brokerage estimates that introducing MDR for this segment could generate Rs 5,000 crore to Rs 10,000 crore in annual revenue for the digital payments industry, potentially benefiting companies like Paytm and Pine Labs.

    Industry sources expect the government to introduce a cap on the maximum fee charged. As one source noted, “Unlike credit cards, there is no funding cost involved, so it makes sense to have a ceiling once the costs are covered.”

    For now, the proposed amendment only creates the legal framework to enable MDR. The government has not confirmed whether merchant charges will be introduced, what the final rates will be, or when such a policy could take effect. Until then, UPI transactions remain free under the existing system.

  • How to Select the Best Cryptocurrency Exchange in 2026: Key Factors for Secure Trading

    How to Select the Best Cryptocurrency Exchange in 2026: Key Factors for Secure Trading

    Cryptocurrency adoption continues to expand globally, and selecting the right exchange is more critical than ever. Despite ongoing regulatory uncertainty and market fluctuations, India remains one of the fastest-growing markets for crypto trading. According to CoinMarketCap Research, centralized exchanges recorded approximately $4.74 trillion in trading volume in June 2026, highlighting the sector’s immense scale.

    Choosing an ideal cryptocurrency exchange involves more than just comparing trading fees. Key factors include security, regulatory compliance, liquidity, and the ability to safely store and transfer digital assets.

    Prioritize Regulation and Compliance

    The first checkpoint should always be regulatory compliance. Investors must opt for exchanges that adhere to Know Your Customer (KYC) and Anti-Money Laundering (AML) guidelines. In India, exchanges registered with the Financial Intelligence Unit (FIU-IND) offer an extra layer of compliance under local anti-money laundering laws. Leading global exchanges are also obtaining licenses to enhance investor protection through frameworks like Europe’s Markets in Crypto-Assets (MiCA) regulation.

    Evaluate Security Infrastructure

    Security is the most significant differentiator among exchanges. When opening an account, check whether the platform provides:

    • Two-factor authentication (2FA)
    • Cold storage for customer assets
    • Withdrawal whitelist protection
    • Proof of Reserves (PoR)
    • Independent security audits
    • Insurance mechanisms for certain digital assets

    After major exchange failures, Proof of Reserves has become essential, as it allows users to verify that customer assets are fully backed.

    Compare Liquidity and Trading Costs

    High liquidity enables investors to execute trades with minimal price slippage, especially during volatile market conditions. Larger exchanges typically offer tighter spreads, deeper order books, and faster execution. Investors should compare:

    • Spot trading fees
    • Deposit and withdrawal charges
    • Futures funding costs
    • INR or fiat deposit availability
    • Supported payment methods

    While low fees are appealing, they should not be the sole criterion—security and liquidity are equally important.

    Asset Selection and Features

    Investors have varying needs. Beginners may only require Bitcoin and Ethereum, while advanced traders seek features like staking, perpetual futures, margin trading, recurring buys, or institutional custody. Choose an exchange that aligns with your investment strategy rather than one with the largest token list.

    Also Read: BitMart Announces Crypto Exchange Shutdown as BMX Crashes 81%

    Customer Support and Transparency

    Customer support is crucial, particularly during market volatility. Select exchanges that regularly share system status updates, publish clear reserve reports, disclose regulatory licenses, and respond promptly to user complaints. Review uptime history, incident reports, and community feedback to gauge reliability.

    Why This Matters

    With global trading volumes hitting trillions and adoption surging across India, choosing a regulated and secure exchange safeguards your capital against market volatility, cyber threats, and sudden exchange failures in an evolving regulatory environment.

    Final Thoughts

    When selecting the best cryptocurrency exchange in 2026, consider security, compliance, liquidity, and user-friendliness. Despite a strict tax regime, India remains a top country for grassroots crypto adoption. While low trading fees may seem attractive, they should not be the deciding factor. Prioritize platforms with strong reputations, robust regulation, solid security measures, and transparency for long-term success.

    FAQs

    1. What is the most important factor when choosing a cryptocurrency exchange?

    Security should be the top priority. Choose an exchange with two-factor authentication (2FA), cold storage, Proof of Reserves, and a strong history of protecting customer assets.

    2. Are FIU-registered crypto exchanges safer in India?

    FIU-registered exchanges comply with India’s anti-money laundering regulations and KYC requirements. While registration doesn’t eliminate risk, it adds an extra layer of regulatory oversight.

    3. Why does liquidity matter on a crypto exchange?

    High liquidity allows trades to be executed faster with lower price slippage, especially during high market volatility or when placing large orders.

    4. Should beginners use exchanges with hundreds of cryptocurrencies?

    Not necessarily. Beginners often benefit more from exchanges offering major cryptocurrencies like Bitcoin and Ethereum, along with an easy-to-use interface and strong educational resources.

    5. Is the lowest trading fee always the best option?

    No. Low fees are beneficial, but security, regulatory compliance, transparency, liquidity, and reliable customer support are often more important for long-term investing success.

  • Anthropic Expands in India: Claude AI Now Supports In-Country Inference and Unveils New Partnerships

    Anthropic Expands in India: Claude AI Now Supports In-Country Inference and Unveils New Partnerships

    Anthropic has announced a significant expansion in India, bringing in-country inference for Claude via Amazon Bedrock and revealing a host of new partnerships with Indian enterprises, startups, and nonprofits. The move addresses a top request from Indian organizations for local data processing, enabling them to deploy Claude while meeting strict data residency requirements.

    Claude Goes Local: In-Country Inference via Amazon Bedrock

    In the coming weeks, Claude will be available with in-country inference in India through Amazon Bedrock, AWS’s platform for building generative AI applications. Requests sent to Claude through the India endpoint will be processed on servers within India, giving banks, insurers, public agencies, and other highly regulated institutions the certainty they need to handle sensitive customer data. This control is pivotal for organizations moving from AI pilots to full-scale deployment.

    “We are glad to see partners like Anthropic and AWS bringing in-country inference to India. Access to trusted, frontier AI closer to home is a positive step for the ecosystem as we all explore how these technologies can responsibly serve customers,” said Ashok Vaswani, Managing Director & CEO of Kotak Bank.

    Claude deployments through Amazon Bedrock also include audit trails and access controls that meet the requirements of risk and compliance teams, ensuring a secure path to production.

    Building Momentum Across Indian Enterprises and Startups

    Anthropic’s presence in India has grown rapidly since its Bengaluru office opened in February. The local team now provides applied AI expertise to enterprises, digital natives, and startups. Major Indian companies are adopting Claude for diverse use cases:

    • Axis Bank leverages Claude for engineering excellence and employee productivity.
    • NPCI is building AiNxt, its agentic AI platform, with Claude.
    • IndusInd Bank uses Claude to create an AI-enabled enterprise knowledge platform.
    • Godrej Industries runs Claude across internal app development and business analysis.

    IT services leaders are also integrating Claude into their offerings. TCS is equipping 50,000 associates with Claude, Infosys is combining Claude with Infosys Topaz™ and establishing a dedicated Anthropic Center of Excellence, and Cognizant uses Claude in systems for manufacturing, life sciences, and insurance. LTM & LTTS are embedding Claude and Claude Code into their platforms.

    Digital natives are embedding Claude in consumer products: Swiggy uses MCP to make flagship services reachable, Instamart now offers natural-language shopping for 40,000+ products, Zoho equips customers with Claude models, and Invideo delivers precise quality across 190 nations.

    Startups like Rocket, Atlan, Cred, Zamp.ai, and Freshworks are building with Claude to accelerate development and enhance productivity.

    Partnerships Driving Scale and Innovation

    Anthropic’s Claude Partner Network has seen high registration numbers in India, with many partners achieving Global Premier, Preferred, and Select tiers. This week, Bengaluru hosts the first Claude Certification for Partners, aiming to certify 5,000 people.

    Advancing Beneficial Deployments and Social Impact

    Anthropic’s AI for Science program supports researchers across India, including the Evolutionary Venomics Lab at IISc, which uses Claude to annotate venom data, and PopVax, which employs Claude in protein-design models for vaccines and cancer treatments. Nonprofits like Pratham, Agami, Civis, and Digital Green are using Claude to improve education, justice, civic tech, and agriculture.

    Strengthening Cybersecurity and Public Trust

    Indian organizations are also using Claude to bolster cyber defenses. The Data Security Council of India has a Claude-powered AI testing sandbox, while MOSIP—the open-source platform behind national digital ID systems—uses Claude to secure code. OpenG2P leverages Claude for secure citizen benefit delivery.

    Commitment to Indian Languages and Responsible AI

    Six months after signing the New Delhi Frontier AI Impact Commitments, Anthropic is making progress on improving Claude’s performance in Indian languages. A pilot with Karya evaluated Claude across seven languages in agriculture, helping identify linguistic and cultural nuances that automated evaluations miss.

    With in-country inference, Anthropic is set to deepen its work in India, opening doors for deployments where data must remain in the country.

  • Redington Shares Surge to Record High on Strong Apple Sales and Q1 Profit Jump

    Redington Shares Surge to Record High on Strong Apple Sales and Q1 Profit Jump

    Redington shares hit a record high on August 3 after the company reported outstanding Q1 FY27 results, driven by robust Apple sales in India and strong performance across multiple technology segments. The stock surged 7.6% to Rs. 346.20 on the NSE during Monday’s trading session, extending a five-session rally of 23%.

    The company posted its highest-ever quarterly revenue of Rs. 34,966 crore, a 34% year-over-year increase. Profit after tax soared 77% to Rs. 486 crore, significantly outpacing revenue growth. India operations were a standout, with revenue climbing 63% and profit rising 60% during the quarter.

    Redington attributed its India growth to large enterprise deals, stronger PC sales, premium smartphone demand, cloud services, and cybersecurity solutions. As a major Apple distributor in the region, the company benefited directly from Apple’s strong performance in India.

    Apple reported June quarter revenue of $109.4 billion, up 16% year over year, with India among the markets recording double-digit growth. IDC India analyst Navkendar Singh noted that Apple’s India business still has a “long runway” as more consumers enter the market, supported by wider retail access, financing options, and local iPhone production.

    International operations also contributed to Redington’s strong quarter. Revenue across the Middle East and Africa rose 15% year over year, driven by demand for cloud services and cybersecurity.

    V S Hariharan, Managing Director and Group CEO, commented that Redington began FY27 with its “highest-ever quarterly revenue and profit,” highlighting stronger demand across technology distribution and profit growth that outpaced revenue expansion.

    The combination of record Q1 results and Apple sales momentum has emerged as the key catalyst behind Redington shares reaching new highs.

  • Flipkart Gears Up to Challenge Zomato and Swiggy with Low-Cost Food Delivery

    Flipkart Gears Up to Challenge Zomato and Swiggy with Low-Cost Food Delivery

    Flipkart, the Walmart-owned e-commerce giant, is preparing to enter India’s competitive food delivery market with a disruptive low-commission model. The company is set to launch its service in Bengaluru around August 15, with initial reports indicating that restaurants across the city are already being onboarded onto the platform.

    One of the most striking aspects of Flipkart’s entry is its proposed 10% commission rate for restaurant partners, significantly lower than the 16% to 30% typically charged by established players like Zomato and Swiggy. This aggressive pricing strategy could attract restaurants looking to reduce operational costs and pass on savings to customers.

    Flipkart’s foray into food delivery is expected to shake up a market that has long been dominated by Zomato and Swiggy. Reports suggest that Flipkart is taking a different approach than its competitors, exploring the Open Network for Digital Commerce (ONDC) as part of its long-term strategy to scale its food delivery business. This move aligns with the Indian government’s push for open, interoperable e-commerce.

    Flipkart CEO Kalyan Krishnamurthy has confirmed that the rollout will be phased. The company will first test the service with a limited set of users, gather feedback, refine the offering, and then scale it up. This cautious approach indicates Flipkart aims to deliver a polished experience from the outset.

    Flipkart brings several advantages to the table, including a vast existing customer base, one of the country’s largest delivery networks, and the financial backing of Walmart. These strengths could help the company gain significant traction soon after its launch.

    However, food delivery is a challenging business. Low commissions alone will not guarantee success. Fast and reliable delivery partners, efficient logistics, and excellent customer service are equally crucial. Zomato and Swiggy have spent years building these capabilities. If Flipkart wants to be a serious contender, it must match their operational excellence.

    Flipkart’s entry could inject much-needed competition into India’s food delivery market. If it can deliver both great service and lower costs, it could become a strong alternative for both restaurants and consumers. The coming months will reveal whether this new player can carve out a significant share of the market.

  • India’s Manufacturing PMI Drops to Lowest Since 2021 Amid Slowing Domestic Demand

    India’s Manufacturing PMI Drops to Lowest Since 2021 Amid Slowing Domestic Demand

    India’s manufacturing sector expanded at its slowest pace in nearly five years during July, as domestic demand weakened and hiring slowed, according to the latest S&P Global HSBC India Manufacturing Purchasing Managers’ Index (PMI).

    The headline PMI fell to 53.5 in July, down from 54.2 in June, marking its lowest level since August 2021. The reading came in below the earlier estimate of 53.9. Despite the decline, the index remained above the 50 threshold, indicating continued growth in factory activity.

    July’s data revealed a clear divergence between domestic and overseas demand. Export orders improved after a sharp slowdown in June, rising at their fastest pace since April, driven by stronger demand from countries including Canada, Egypt, Indonesia, Kenya, Nepal, South Africa, Thailand, and the United Arab Emirates. In contrast, new orders increased at the second-slowest rate in more than four years, with manufacturers attributing the slowdown to weaker client interest and challenging market conditions.

    Factory output continued to grow in July, with the pace of expansion little changed from June, though it remained near the weaker levels seen since mid-2022. Consumer goods producers faced softer conditions, while intermediate and capital goods manufacturers recorded better performance.

    Employment increased for the 29th consecutive month, but hiring grew at the slowest pace in that period, weakening for a third straight month. The trend suggests manufacturers became more cautious as order growth lost momentum. Companies also reduced the pace of input buying during July, though they continued to build inventories as supply conditions improved. Stocks of raw materials and finished goods both increased.

    Supplier delivery times shortened at one of the fastest rates recorded by the survey, indicating that supply chain delays continued to ease. However, renewed tensions in the Middle East have raised doubts about the durability of these improvements. Pranjul Bhandari, chief India economist at HSBC, noted, “The suppliers’ delivery times index rose in July, an encouraging sign that supply chain delays are continuing to unwind. However, renewed tensions in the Middle East have raised fresh doubts about how durable these improvements will be.”

    Input cost inflation slowed to a five-month low in July, with price increases for several raw materials becoming less severe, though transportation costs remained high. Selling prices rose only modestly, as softer demand and strong competition limited manufacturers’ ability to raise prices more sharply. Bhandari added, “Meanwhile, output and new export orders strengthened, pointing to resilient demand, particularly from overseas markets. Input costs eased while output charges increased as firms sought to protect margins.”

    Business confidence improved from June’s recent low, with manufacturers expecting demand, infrastructure projects, and new client enquiries to support activity. The survey covered approximately 400 manufacturing companies across India, measuring output, orders, employment, costs, and business expectations.

  • Sony Launches True RGB TVs in India: 115-Inch Bravia 9 II and More

    Sony Launches True RGB TVs in India: 115-Inch Bravia 9 II and More

    Sony has officially launched its new True RGB televisions in India, marking a significant entry into the country’s premium TV market. The lineup includes the flagship Bravia 9 II and the Bravia 7 II, with the 115-inch Bravia 9 II leading the charge.

    The company’s proprietary RGB Backlight Master Drive Pro technology independently controls red, green, and blue LEDs, promising brighter pictures and richer, more accurate colors. Sony India introduced the Bravia 9 II via its official X account, stating, “Your home. Your cinema. Introducing BRAVIA 9 II.” The company emphasized the TV’s wide color gamut and its ability to reproduce scenes closer to the creator’s original vision.

    The 115-inch Bravia 9 II is Sony’s largest home television ever launched in India. Its listed price is Rs. 45,99,900, with a best-buy price of Rs. 28,99,990. The 75-inch version costs Rs. 8,39,900, while the 85-inch model is priced at Rs. 9,89,900.

    The Bravia 7 II also incorporates True RGB technology across multiple screen sizes, offering enhanced color control while maintaining the high brightness expected from premium Mini LED TVs.

    Both models support 4K resolution at 120Hz refresh rates, Google TV, Dolby Vision, and Dolby Atmos. For gamers, features include 4K at 120fps, variable refresh rate (VRR), and Auto Low Latency Mode (ALLM).

    Sony enters a competitive premium TV market in India, facing rivals such as Samsung, LG, TCL, and Hisense, all of which offer OLED, Mini LED, and RGB-based display technologies. While the high price points may limit these TVs to premium buyers, the new range broadens options for Indian consumers seeking large, high-end televisions.

  • India Offers Apple Up to 15 Years of Tax Stability to Boost Manufacturing

    India Offers Apple Up to 15 Years of Tax Stability to Boost Manufacturing

    India is planning to provide Apple with up to 15 years of tax certainty for its manufacturing operations, a move designed to encourage the iPhone maker to expand production, invest in new facilities, and deepen its manufacturing footprint in the country.

    Under the proposed plan, the tax certainty would extend until March 31, 2041, up from the current deadline of 2031. The existing framework was introduced in February 2026 as part of the Union Budget for 2026–27 and was registered as Clause 109 of the Finance Bill, which amended Schedule IV of the Income-tax Act 2025.

    The proposal is linked to India’s business connection rules, which determine how foreign companies are taxed when operating in the country. A predictable tax environment helps companies plan long-term investments without fear of sudden policy changes. For a business investing billions in factories and supply chains, such stability is critical.

    In India, Apple funds the high-precision machinery used by Foxconn and Tata Electronics to assemble iPhones. Building new factories is a long-term commitment that requires years to set up production, hire workers, and develop supplier networks. Stable tax rules reduce business risks and make these decisions easier.

    The initiative builds on a 2016 agreement between Apple CEO Tim Cook and Indian Prime Minister Narendra Modi to establish a production base in India that goes beyond simple assembly. If approved, the extended tax certainty could help India attract more global manufacturers, strengthen its role in Apple’s worldwide supply chain, and bring additional jobs, investment, and exports to the country.

  • Indian Parliamentary Panel Rejects Meta’s Apology, Demands Action Over PM Modi Video Takedown

    Indian Parliamentary Panel Rejects Meta’s Apology, Demands Action Over PM Modi Video Takedown

    Meta has apologized to a parliamentary panel in India over the removal of Prime Minister Narendra Modi’s Facebook video, but lawmakers are pushing for more than just an apology. The company described the takedown as a technical error and restored the video after government concerns were raised.

    Panel Demands Accountability

    During a meeting of the Parliamentary Standing Committee on Information Technology in New Delhi, Meta officials faced questions about the removal, its authorization, and who was responsible. Committee members, led by BJP MP Nishikant Dubey, demanded accountability and called on Meta to identify the official involved and consider legal action.

    “The committee is seeking accountability,” a senior BJP member reportedly said, adding that an apology alone would not be sufficient. The panel wants answers and stronger action against those responsible for the incident.

    Broader Scrutiny of Content Moderation

    The meeting focused on social media regulation and platform accountability, with representatives from Meta, Google, YouTube, X, Snapchat, the Union home ministry, and MeitY in attendance. The temporary restriction of PM Modi’s video—which addressed India’s youth and promised strict action against paper leaks—raised concerns about content moderation systems handling sensitive political communications.

    Meta had earlier described the restriction as a glitch, but MeitY called the explanation inadequate and demanded greater clarity. Lawmakers also questioned Meta about controversial and objectionable content remaining on its platforms, seeking details on moderation measures.

    Growing Pressure on Foreign Tech Platforms

    The incident adds to mounting pressure on Meta as Indian authorities examine platform compliance with national laws. Government sources have linked the broader debate to concerns over public order and national security. The committee’s questions now shift attention from Meta’s apology toward stronger platform accountability, highlighting the intense scrutiny foreign technology platforms face in India.