Technology

New Delhi, April 3 (IANS) Amid concerns over the US reciprocal tariffs, Ranjit Mehta, CEO of the PHD Chamber of Commerce and Industry (PHDCCI), said on Thursday that this is an opportunity for India for high-quality production and global expansion under the ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives.

He expressed confidence that under Prime Minister Narendra Modi’s leadership, India can turn the current trade challenges into an opportunity for growth.

"Prime Minister Narendra Modi and US President Donald Trump administration share good relations, and the Indian government is working on a bilateral trade agreement. The outcomes of these agreements could be seen in the next four to five months,” Mehta told IANS.

“This is an opportunity for India, and under Prime Minister Modi's leadership, it is the right time to push for 'Atmanirbhar Bharat' and 'Make in India.' We must focus on producing high-quality products," he added.

Mehta emphasised that while the tariffs pose challenges, India's economy is resilient, and new opportunities can be explored to minimise the impact.

He stressed the need for strong support for the Micro, Small, and Medium Enterprises (MSME) sector and access to alternative markets.

“Additionally, we should consider providing technological support to the MSME sector so that their products are fully prepared to compete at the global level and fetch the right value in the market," he stated.

Speaking to IANS, Mehta said that such a move is unprecedented and will have a global trade impact. However, he highlighted India's strong economic position, noting that the country is one of the fastest-growing economies with a vast market and high domestic consumption.

He also pointed out that Indian pharmaceutical exports have been exempted from the tariffs, which is a positive development for the sector.

Mehta acknowledged that industries like textiles, gems and jewelry, and electronics, which have a strong presence in the US market, might face challenges.

“However, the ongoing bilateral trade negotiations between India and the US could bring positive outcomes by September or October this year,” he added.

--IANS

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New Delhi, April 3 (IANS) Electronic waste recycling startup Attero reported a 31 per cent decline in net profit in FY24 due to its rising expenses, according to the company’s latest financials.

The firm’s net profit fell from Rs 21 crore in FY23 to Rs 14.5 crore in FY24 due to increased costs, particularly procurement expenses, which weighed heavily on profitability.

Attero’s expenses surged in FY24, with procurement costs making up 85 per cent of total spending. The cost of materials rose by 63.5 per cent to Rs 363 crore.

Employee expenses increased by 16.7 per cent to Rs 14 crore, while legal charges saw a sharp jump of 66.7 per cent to Rs 10 crore.

Other overhead costs, including manpower and general expenses, stood at Rs 31 crore. Overall, total expenditure rose by 51.6 per cent to Rs 426 crore in FY24 from Rs 281 crore in FY23.

The company’s return on capital employed (ROCE) was recorded at 19.32 per cent, while its EBITDA margin stood at 8.41 per cent.

Attero spent Rs 0.96 to earn every rupee during the fiscal year. However, the company saw its revenue grow by 54 per cent year-on-year (YoY).

In a statement, Nitin Gupta, CEO and Co-founder, Attero, said that the company has achieved remarkable growth of 125 per cent from FY24 to FY25, surpassing the Rs 1,000 crore mark in revenue while also improving its profitability margins.

According to its financial statement, Attero’s revenue from operations rose to Rs 446 crore in FY24, up from Rs 289 crore in the last fiscal.

The company, which specialises in recycling e-waste and lithium-ion batteries using patented technology, generates most of its income from selling recycled metals and battery-grade materials.

In FY24, product sales contributed Rs 333 crore, accounting for 75 per cent of total revenue, while the remaining income came from services such as e-waste recycling, lithium-ion battery processing, and secure data destruction.

Attero, headquartered in Roorkee, has raised a total of $31 million to date, as per reports. Its lead investors include NEA-Indo US Venture (34.74 per cent), DFJ Mauritius (23.54 per cent), and GHIOF (9.47 per cent).

--IANS

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Mumbai, April 1 (IANS) The Securities and Exchange Board of India (SEBI) on Tuesday said that it has extended the deadline for implementing new regulations governing retail investors' entry into algorithmic (algo) trading.

The new rules, which were initially set to take effect on April 1, will now come into force on August 1.

This extension follows requests from stock exchanges, who asked for more time to fully implement the new standards in consultation with the Brokers’ Industry Standards Forum (ISF).

The SEBI had first introduced these guidelines on February 4, aiming to regulate how retail investors can access and use algo trading.

Under the new rules, there will be a three-party relationship involving stock exchanges, brokers, and algo providers.

Brokers will act as the principal, while algo providers will function as their agents. Stock exchanges will assign a unique identifier to all orders placed through these algos to track and manage them.

For retail investors using their own algos, the new regulations will require them to register their algorithms if they exceed a certain number of orders. However, they will only be permitted to let immediate family members use the algo.

The stock exchanges, which will not be directly regulated by the SEBI in this system, will be responsible for registering the algo providers.

Once registered, these providers can be onboarded by brokers, who will also be accountable for handling any complaints related to algo trading.

Additionally, brokers must implement two-factor authentication and API controls for the algo providers.

SEBI has classified algos into two categories: white-box and black-box. White-box algos, which are transparent in their logic, will be easier to regulate.

On the other hand, black-box algos, where the logic is hidden, will require providers to register as research analysts and keep detailed research reports.

Meanwhile, last week, the market regulator extended the deadline for mutual funds and portfolio managers to submit their off-site inspection data.

This move is expected to provide more flexibility to fund houses and portfolio managers while ensuring regulatory compliance.

--IANS

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New Delhi, April 1 (IANS) Zomato, the popular online food delivery platform, has reportedly laid off up to 600 customer support employees, just a year after hiring them.

The reported layoffs came as the company faces challenges in its core food delivery business and rising losses in its quick commerce subsidiary, Blinkit.

According to reports, the company had hired nearly 1,500 employees last year through its Zomato Associate Accelerator Program (ZAAP) to fill customer support roles.

However, in recent weeks, many of these employees have been let go without any prior notice or opportunity to improve their performance, the report added.

The employees who were fired received one month's salary as compensation, but the layoffs were reportedly based on issues like poor performance and punctuality.

Zomato's decision to reduce its customer support team is part of a broader strategy to cut costs, which includes using artificial intelligence (AI) to automate customer support functions, the report said.

This move is seen as an attempt to reduce operational expenses as the company faces slower growth and higher losses in its business.

When reached, the online food aggregator declined to comment as of now.

The layoffs have affected employees in cities like Gurugram and Hyderabad, and fears are growing among remaining staff about the security of their jobs, the report added.

Some of the affected employees took to social media to share their experiences, with one user mentioning that around 300 people were fired without warning.

Despite the layoffs, Zomato's stock saw a slight increase of 0.84 per cent during Tuesday’s intra-day trading session by closing at Rs 203.20 apiece.

Meanwhile, last month, Bank of America (BofA) downgraded its ratings on Zomato, citing concerns over slowing growth in food delivery and increasing competition in quick commerce.

The brokerage revised Zomato’s rating from ‘buy’ to ‘neutral’. Along with the downgrade, BofA also slashed the target prices for the food aggregator.

Zomato’s target price was reduced from Rs 300 to Rs 250. Despite these adjustments, analysts remain optimistic about the medium-term outlook for the firm.

--IANS

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New Delhi, April 1 (IANS) WhatsApp on Tuesday said that it has banned over 9.7 million accounts in India during February 2025, citing violations of its Terms of Service.

According to its latest monthly safety report, a significant portion of these bans, over 1.4 million accounts, were proactively removed by WhatsApp before any user complaints were even made.

The company, which has more than 500 million users in India, explained that the bans were the result of its ongoing investment in AI-driven moderation and advanced reporting tools.

"Over the years, WhatsApp has consistently invested in Artificial Intelligence and other state-of-the-art technology, data scientists and experts, and in processes, in order to keep our users safe on our platform," a WhatsApp spokesperson said in a statement.

WhatsApp takes these actions to combat abusive behavior on the platform and ensure a safer environment for users.

"In accordance with the IT Rules 2021, our latest published report outlines user complaints received, actions taken, and WhatsApp’s proactive approach to preventing abuse, including accounts that were proactively banned, before any reports from users," the spokesperson added.

According to the report, while many bans result from user complaints, WhatsApp also uses automated detection systems to identify suspicious activities.

Common reasons for account bans include spamming, automation through bots or third-party apps, and adding users to groups without their consent.

Another reason for banning accounts is unsolicited messaging, which involves messaging people using data obtained from unauthorised sources, especially after being asked to stop.

Forwarding fake news or misinformation and misusing broadcast lists can also lead to account suspension.

WhatsApp encourages users to be responsible when using the platform. It suggests that users always ask for consent before adding someone to a group, respect requests to stop messaging, avoid forwarding unverified content, and use broadcast lists sparingly.

The company reminds users that harassment, defamation, and sharing false information are against WhatsApp’s Terms of Service.

If users feel their account was banned by mistake, WhatsApp offers an appeal process. Users can file an appeal directly through the app by entering a 6-digit code sent via SMS.

“Once the request is submitted, WhatsApp will review the case and provide a response,” the company said.

--IANS

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New Delhi, April 1 (IANS) India’s motorcycle industry witnessed strong growth in the final month of the just-concluded fiscal year 2024-25, with leading manufacturers reporting impressive sales figures.

Royal Enfield and Suzuki Motorcycle India Private Limited (SMIPL) showcased remarkable achievements in March, according to their sales data.

Royal Enfield, the world’s largest maker of middleweight motorcycles, marked a significant milestone by selling over one million units for the first time in a financial year.

In FY 2024-25, the Bullet maker sold a total of 10,09,900 units, an 11 per cent increase compared to the previous year. Of this, domestic sales stood at 9,02,757 units, while exports surged by 37 per cent, reaching 1,07,143 units, according to the company.

Similarly, Suzuki Motorcycle India saw record sales with 12,56,161 units sold in FY2024-25. This was an 11 per cent growth over the previous year's figures.

Domestic sales played a key role in this success by rising 14 per cent to reach 10,45,662 units. Suzuki's performance in March 2025 was also outstanding, with an all-time high of 1,25,930 units sold.

Domestic sales alone were a remarkable 1,05,736 units -- a 23 per cent growth from March 2024, said the company.

Meanwhile, Mahindra Last Mile Mobility Limited (MLMML), known for its electric commercial vehicles, continued its dominance in the electric vehicle (EV) sector.

For the fourth consecutive year, MLMML led the L5 category of commercial EVs, contributing to a significant 24.2 per cent EV penetration in FY25, according to the company’s statement.

The company achieved several milestones, including selling over 2 lakh commercial EVs and 1 lakh units of its flagship electric auto, the Treo.

In March 2025, MLMML's strong performance continued with the launch of new products such as the Treo with a metal body and the Mahindra ZEO, the company’s first-ever 4W electric commercial vehicle.

The remarkable performance of these key players reflects the growing demand for both traditional and electric two-wheelers, as well as the country’s shift toward more sustainable transportation options.

--IANS

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Mumbai, March 28 (IANS) Bombay Stock Exchange (BSE) Limited's share price surged over 16 per cent on Friday after the Securities and Exchange Board of India (SEBI) proposed standardising expiry days for equity derivatives across exchanges.

Following the move of the market regulator, the shares of BSE climbed 16.09 per cent or Rs 753.65 to close the day at Rs 5,438 on the National Stock Exchange (NSE), crossing its 200-day moving average.

The market regulator suggested that all exchanges must choose either Tuesday or Thursday as the expiry day for their derivatives contracts, including stock and index options and futures.

This move aims to bring predictability for traders, reduce concentration risk, and improve market stability.

According to a consultation paper issued by SEBI, exchanges will have to select one of the two days and apply it uniformly to all their contracts.

Analysts at Jefferies believe that this proposal could be beneficial for BSE. If the NSE reverts to Thursday expiries and BSE continues with Tuesday expiries, it may ease concerns about BSE losing market share.

The brokerage noted that the impact on BSE’s earnings per share, estimated at 12 per cent, could be lower than previously feared. However, there is still a lack of clarity regarding open interest limits.

With BSE's stock regaining most of its recent losses, analysts suggest that lower regulatory risks and better market conditions could lead to a re-rating of the stock.

Over the past year, BSE’s stock has gained 104 per cent, although it has fallen 3 per cent since the start of this year.

Trading activity in the stock was significantly high, with volume reaching 5.5 times its 30-day average. The stock’s relative strength index (RSI) stood at 60, indicating strong momentum.

According to reports, analysts tracking BSE stock are bullish on the outlook. The average 12-month price target set by them indicates a potential rise of 14 per cent from current levels.

--IANS

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New Delhi, March 24 (IANS) Apple on Monday said that a new software update next month will bring lossless audio and ultra-low latency audio to AirPods Max.

With the included USB-C cable, users can enjoy the highest-quality audio across music, movies, and games, while music creators can experience significant enhancements to songwriting, beat making, production, and mixing, said the company in a statement.

With this update, AirPods Max will unlock 24-bit, 48 kHz lossless audio, preserving the integrity of original recordings and allowing listeners to experience music the way the artist created it in the studio.

Lossless audio also extends to Personalised Spatial Audio to deliver a more sonically accurate, uncompressed, and immersive experience, and users can enjoy more than 100 million songs in lossless audio with Apple Music.

According to the company, lossless audio and ultra-low latency audio enable music creators to fully utilise AirPods Max throughout their entire professional workflow on Logic Pro and other music creation apps.

“Using the USB-C cable, AirPods Max will become the only headphones that enable musicians to both create and mix in Personalised Spatial Audio with head tracking. By delivering lossless, high-resolution digital audio with low latency, artists can seamlessly record and mix with AirPods Max without compromising fidelity,” said Apple.

Gamers and livestreamers can also benefit from ultra-low latency audio, which significantly lowers lag time, and is on par with the native built-in speakers on Mac, iPad, and iPhone.

With no response delay, gameplay and livestreaming become reliably smooth and even more immersive for users.

Lossless audio and ultra-low latency audio will be available in April as a free firmware update with iOS 18.4, iPadOS 18.4, and macOS Sequoia 15.4 for AirPods Max with USB-C.

AirPods Max are currently available in five colours — midnight, starlight, blue, purple, and orange.

—IANS

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Bengaluru, March 24 (IANS) Retail and Information and Technology sectors are driving female contractual workforce participation in India, according to a report on Monday.

The report by TeamLease Services, a staffing and workforce solutions company, provides critical insights into the existing gender disparities in the workforce. It identifies trends and reforms necessary to drive inclusive employment opportunities for women across industries.

The report showed that retail (29.8 per cent), IT (20.7 per cent), and financial services (18.9 per cent) lead in employing women in contractual roles. On the other hand, sectors like manufacturing (10.8 per cent), power and energy (5 per cent), and telecom (4 per cent) see lower representation, underscoring the need for greater gender inclusion.

Education plays a vital role in shaping women's employment prospects. The report noted that about 41.3 per cent of women in contractual roles hold a graduation degree, while 28.5 per cent have completed 12th grade.

A smaller percentage have 10th-grade education (18.8 per cent), with postgraduates (10.2 per cent) and diploma & ITI holders (1.2 per cent) making up the rest. This indicates that most women in employment have at least a higher secondary or graduate-level education, contributing to a skilled talent pool actively engaged in various industries.

"Women’s workforce participation in India shows a clear divide across education levels. Those with minimal or high education are more actively engaged, while mid-level graduates follow distinct employment patterns. However, contractual employment has emerged as a key enabler, particularly for women aged 18 to 37, providing critical access to diverse industries, skilling opportunities, and financial stability,” said Kartik Narayan, CEO - Staffing, TeamLease Services.

“As India aims to increase female workforce participation to 70 per cent, strengthening the contractual workforce ecosystem through targeted skilling programmes, career transition support, and industry initiatives will be essential,” he added.

Further, the report showed that employment opportunities for women, especially in contractual roles, are concentrated in metropolitan and industrial hubs. Maharashtra (28.7 per cent) leads, followed by Tamil Nadu (14.2 per cent) and Karnataka (14.1 per cent).

States like Telangana (7.8 per cent), Gujarat (7.2 per cent), and Uttar Pradesh (6.6 per cent) also contribute significantly. While urban centers drive employment, the report highlights the potential to expand opportunities in tier-2 and tier-3 cities for broader workforce inclusion.

The female contractual workforce is predominantly young, with 62.2 per cent of women aged between 18 and 27, while 29.4 per cent fall between 28 and 37 years of age.

--IANS

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Moscow, March 20 (IANS) Sber500, the international startup seed accelerator, on Thursday invited applications for new technology startups from different countries.

To participate, the startups must show a complete team, finished products, and first sales.

The programme will prioritise AI agents, AI assistants, and science-based solutions (DeepTech), as well as teams from the BRICS countries.

"125 startups, graduates of previous Sber500 seasons, have raised more than RUB 3.7 bn in investments and signed nearly 9,500 commercial contracts," said Alexander Vedyakhin, first deputy chairman of the Executive Board, Sberbank.

"The Sber500 seed accelerator gives technology companies access to international experts, Sber's partners, and investors," he added.

Vedyakhin informed that last year, every fourth application came from foreign startups from 28 countries.

"This year, we will be focusing on AI agents and DeepTech solutions, and we want to engage even more participants from abroad, especially from the BRICS countries,” he said.

The company noted that the accelerator programme will continue for about three months.

The participants will get to work with senior experts and mentors from 17 countries both in groups and individually.

About 150 startups are expected to participate in the online bootcamp (the first stage of the accelerator).

Specialists will help them adapt their strategy, prepare for scaling, strengthen their market position, and find partners for piloting.

Twenty-five finalists will continue their training. They will have access to 40 major Russian companies, various departments at Sber, hundreds of business angels, and venture funds.

The finals, demo day in Moscow, will see the startups pitch their solutions to executives of large companies and potential investors.

The deadline for applications is   May 12, 2025, the company said.

--IANS

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