Technology

New Delhi, Jan 22 (IANS) About 70 per cent of people, who are part of the Indian hotel industry, believe that private labelling by the quick commerce platforms run by Zomato and Swiggy etc are impacting their businesses, and 69 per cent of them believe that they have no negotiation powers with respect to commissions, a poll by the National Restaurant Association of India (NRAI) showed on Wednesday.

Amid concerns over monopolisation by online food delivery platforms launching private labels and leveraging restaurant data, the NRAI which represents more than 5 lakh restaurants in the country organised a live poll with 8,000 people from across the country.

“India's food delivery industry is at a crossroads, with profitability, sustainability, and fairness being put to the test. While we welcome developments such as quick commerce in the food delivery space, we are deeply concerned about aggregators expanding into private labels, leveraging restaurant data, and competing directly with their own partners,” said Sagar Daryani, NRAI President.

This practice not only creates an unfair playing field, but it also undermines the trust that is at the foundation of this ecosystem. The lack of transparency in policies, rising commissions, and aggressive ad-driven visibility models are all contributing to restaurants' unsustainable position, he added.

While 92 per cent of those participated in the live poll believe that customer data is essential and necessary in bettering customer experience, 42 per cent say flexibility is needed when it comes to discounting.

Around 34 per cent of them believe that “Aggregators have stolen customers and have converted customers of restaurants into their own customers”.

Zorawar Kalra, NRAI Vice President said the restaurant industry is built on authenticity, experiences and value — none of which should be compromised by the cycle of deep discounting and unfair terms imposed by aggregators.

“While these platforms have undeniably expanded reach, their approach must align with the sustainability of the dining-out ecosystem. Collaboration is essential, but it must be fair and balanced,” he noted.

--IANS

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Mumbai, Jan 21 (IANS) With the possibility of handling up to 1,000 initial public offerings (IPOs) in the next two years, the Securities and Exchange Board of India (SEBI) is adopting artificial intelligence (AI) to make the process of reviewing IPO documents in a faster and more efficient way, its Chairperson Madhabi Puri Buch said on Tuesday.

Speaking at the Association of Investment Bankers of India’s (AIBI) annual convention here, Buch said SEBI is working on a standardised IPO template to simplify the filing process for companies and their merchant bankers.

The new template would follow a "fill-in-the-blanks" format. Any information that doesn’t fit the standard format will be flagged separately for closer review, she told the gathering.

This system aims to divide IPO documents into two parts: standard information and exceptional details.

By focusing attention on sections that deviate from the template, SEBI hopes to make it easier for its officers to identify and address irregularities. The initiative is expected to save time for both companies and regulators.

“With the possibility of handling up to 1,000 IPOs in the next two years, this step will significantly reduce the workload for everyone involved,” Buch noted.

The AI tools will help in three key ways -- document review, online search and content check.

SEBI’s exception reporting mechanism will further improve efficiency. By separating standard and non-standard sections, officers can prioritise their scrutiny where it is most needed, streamlining the review process.

“This approach will not only save time but also enhance the overall efficiency of IPO document preparation and review,” Buch added.

Mahavir Lunawat, Chairman, AIBI, said that the initiatives launched at this year’s convention mark a significant step toward building a robust and future-ready merchant banking ecosystem.

“New initiatives aim to address critical gaps, such as the growing need for skilled professionals and the need for standardising practices. These efforts underscore AIBI’s commitment to fostering innovation, transparency, and cross-border collaboration to support the nation’s ambitious economic growth agenda,” Lunawat added.

--IANS

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New Delhi, Jan 20 (IANS) Homegrown electronics manufacturer Dixon Technologies on Monday doubled its net profit in Q3 FY25, as earnings rose to Rs 216 crore from Rs 97 crore in the same period last fiscal.

According to the company’s exchange filing, the revenue also doubled to Rs 10,553.7 crore from Rs 4,817 crore in the year-ago period -- a jump of nearly 119 per cent.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at Rs 390.6 crore in Q3 which was Rs 184 crore last year.

However, the margin slightly declined to 3.7 per cent from 3.8 per cent on a year-on-year basis.

The company's mobile business played a key role in this performance. Revenue from the mobile segment almost tripled to Rs 9,305 crore, while earnings before interest and tax (EBIT) from this segment more than tripled to Rs 322 crore, up from Rs 104 crore last year.

As per the filing, the mobile business now contributes 89 per cent to Dixon’s total revenue, up from 67 per cent in the same period a year ago.

The shares of Dixon Technologies went up 1.72 per cent on Monday. However, it has declined by 3 per cent so far this year.

In September last year, consumer electronics majors HP Inc and Padget Electronics, a subsidiary of homegrown Dixon Technologies, signed an MoU to manufacture HP laptops, personal computers, and All-in-One PCs at a factory in Tamil Nadu.

The production of HP devices is set to commence from this month, and is projected to reach 20 lakh units per annum in the next two years after the commencement of production Facility at Oragadam, an industrial suburb of Chennai.

It will generate over 1,500 direct jobs and Padget will gradually increase local manufacturing of components, modules and peripherals, creating more jobs.

-- IANS

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New Delhi, Jan 20 (IANS) After the success of DigiLocker for citizens, the government on Monday launched ‘Entity Locker’, a cutting-edge digital platform designed to transform the management and verification of business and organisation documents.

National eGovernance Division (NeGD), under the Ministry of Electronics and Information Technology (MeitY), has developed the secure, cloud-based solution that simplifies the storage, sharing, and verification of documents for a wide range of entities, including large organisations, corporations, micro, small, and medium Enterprises (MSMEs), trusts, startups and societies.

Entity Locker is built on a robust technological framework that integrates with multiple government and regulatory systems, offering real-time access and verification of documents through integration with government databases; consent-based mechanisms for secure sharing of sensitive information; Aadhaar-authenticated role-based access management to ensure accountability; 10 GB of encrypted cloud storage for secure document management; legally valid digital signatures for authenticating documents.

The platform is a critical component of India’s Digital Public Infrastructure (DPI), aligning with the vision of the Union Budget 2024-25 for enhanced digital governance and ease of doing business.

By consolidating these features, the platform aims to minimize administrative overhead, reduce processing times, and enhance operational efficiency for businesses, said the ministry.

Entity Locker’s seamless integration with systems such as the Ministry of Corporate Affairs, the Goods and Services Tax Network (GSTN), the Directorate General of Foreign Trade (DGFT) and other regulatory institutions provides businesses instant access to critical documents.

It streamlines document sharing and access with partners and stakeholders, ensures accountability by tracking all document-related activities, consolidates storage and security to reduce administrative overhead and minimises document processing times and operational bottlenecks.

The platform supports various use cases, including vendor verification on the procurement portal; expedited loan applications for MSMEs; FSSAI compliance documentation; vendor verification during registration in GSTN, MCA and tendering process; and streamlined corporate annual filings.

--IANS

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New Delhi, Jan 20 (IANS) In a bid to further revitalise the telecom industry, the Cellular Operators Association of India (COAI) on Monday released the telecom industry’s recommendations for the upcoming Union Budget 2025-26 to the Ministry of Finance.

Considering the huge capital that Telecom Service Providers (TSPs) have to invest in the current scenario, especially for the deployment of 5G, COAI recommended that the Universal Service Obligation Fund (USOF) levy be abolished.

“Alternatively, the government may consider the suspension of the USO contribution of 5 per cent of AGR, till the existing USO corpus of over Rs 86,000 crore is exhausted,” said the apex telecom industry body.

COAI also recommended that the license fee be urgently reduced from 3 per cent to 1 per cent, so that it just covers the administrative costs by the DoT/government, thereby relieving the TSPs from additional financial burden.

The industry is also concerned over the present definition of Gross Revenue (GR), as it covers revenue from all telecom activities.

The COAI also recommended that the definition of GR be made precise, stipulating that the revenue from activities for which no license is required should not be a part of GR.

“Further, we strongly believe that large traffic generators (LTG) should take the responsibility of participating in the development of telecom infrastructure as they ride on the networks created by telecom companies, earn profits, but don’t pay anything for creation of the infrastructure,” said the COAI.

It recommended that LTGs should pay to USO fund/Digital Bharat Nidhi Fund and thereby contribute to the Indian digital economy.

Owing to the intense price competition in the market, the telecom industry in India has consolidated from over 10 companies in 2017 to 3 private and 1 public sector company, which is an optimal structure and encourages healthy competition.

“Further to the above, cash flow and projections of some of the players in the telecom industry have also been adversely impacted post the Supreme Court Ruling of 2019, in the context of calculation of Adjusted Gross Revenue (AGR), whereby telecom operators are required to pay additional AGR dues basis the revised computation, over a longer period of time,” said the COAI.

COAI also requested the government to clarify that service tax is not payable on incremental License Fees (LF) and Spectrum Usage Charges (SUC) arising from the Supreme Court’s AGR ruling.

Over the past 5 to 6 years, the government has gradually increased the customs duty on telecom equipment to 20 per cent, adding a significant financial burden on telecom companies and significantly impacting the rollout of 5G services in India.

COAI has requested for exemption from the levy of BCD be granted on the telecom equipment under CTH 8517, which has been increased from October 11, 2018, which will alleviate the cost challenges associated with deploying this critical infrastructure.

--IANS

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New Delhi, Jan 20 (IANS) The Department of Science and Technology (DST) has inaugurated a research centre at the Indian Institute of Geomagnetism (IIG) to digitise archived data from over 180-yr-old Colaba geomagnetic observatory in the country, the Ministry of Science & Technology said on Monday.

The Colaba Research Centre will focus on digitising the archived data sets from one of the oldest observatories in India. The Colaba observatory was operational from 1841 to 1906 and is set in a historic location in Colaba, Mumbai, from where the first regular observations of the geomagnetic field variations in India were carried out.

Continuity of the magnetic observation is maintained with the commissioning of Alibag magnetic observatory. The Colaba - Alibag combined series makes the magnetic data for a period of more than 175 years. The historical site consists of ancient equipment that had documented geomagnetic data, registering geomagnetic storms over the years, and created a piece of the history of scientific exploration in India.

The digitisaton “will be done by integrating modern techniques for providing valuable insights into historical geomagnetic storms at the site housing a heritage building and armed with a staff strength of nine,” said the Ministry.

This can help form a benchmark for the probability of occurrence of geomagnetic storms in the future. The center will also carry out research activities on the impact of space weather and allied fields.

The Colaba geomagnetic observatory recorded the first continuous magnetic observations in 1841, providing continuous magnetic data for more than 180 years. The observatory preserves the magnetic data through magnetograms, microfilms, and volumes and is the only observatory that recorded the Super-intense Carrington event of 01-02 September 1859 in India, when the magnetic field decreased by 1600 nT.

The center also provides real-time geomagnetic field variations to international geomagnetic repositories.

Director IIG Professor A P Dimri, elaborated on the activities of the institute including IIG’s work on the earth’s geomagnetic protective shield, the study of wave-particle interaction in the Earth’s magnetosphere, lake sediment core collections, integrated geophysical work in North East Himalayan Region and so on.

The IIG established in 1971 as an autonomous Institution of DST succeeded the Colaba Observatory. It is dedicated to basic and applied research in geomagnetism, geophysics, atmospheric physics, space physics, and plasma physics and carries out interdisciplinary research, encompassing all aspects of the Sun-Solar Wind-Magnetosphere-Ionosphere-Atmosphere.

It operates 13 magnetic observatories across India and hosts a World Data Center for Geomagnetism, maintaining comprehensive geomagnetic data.

--IANS

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New Delhi, Jan 20 (IANS) Online food delivery giant Zomato on Monday reported a 57 per cent decline in net profit (year-on-year) at Rs 59 crore in the third quarter (Q3) of FY25 -- from Rs 176 crore in the same period last fiscal.

However, the revenue from operations rose by 64 per cent to Rs 5,404 crore in Q3. It was Rs 3,288 crore in the same period last year.

The revenue of the Gurugram-based firm was Rs 4,799 crore in the Q2 of FY25.

Zomato reported an increase of 64 per cent in the company's expenses at Rs 5,533 crore in the third quarter. The quick commerce segment reported a 117 per cent increase in revenue.

It stood at Rs 1,399 crore in Q3 as compared to Rs 644 crore in the same period last year.

“As we continue to bring forward store expansion, our networks may have to carry a greater load of under-utilised stores which will impact near-term profits in the next one or two quarters,” said Zomato CFO Akshant Goyal.

These investments will, however, also likely result in gross operational value (GOV) growth remaining meaningfully above 100 per cent, at least for FY25 and FY26, he added.

The company also informed shareholders about the progress and expansion plan, saying it is planning to launch 1,000 new Blinkit stores by December 2025.

The shares of Zomato dropped by nearly 7 per cent in trading session on Monday. However, the stock traded in green before the steep decline.

According to Deepinder Goyal, Founder and CEO, the losses in our quick commerce business this quarter are largely on account of pulling forward the growth investments in the business that we would have otherwise made in a staggered manner over the next few quarters.

“As of now, it seems like we will get to our target of 2,000 stores by December 2025, much earlier than our previous guidance of December 2026,” he noted.

Quick commerce GOV grew 120 per cent YoY (27 per cent QoQ).

“We remain confident in the quality of the business that we are building in the midst of these investments – indicated by the robust margin profile for the more mature parts of the business, as well as continued strong customer retention,” said Albinder Dhindsa, Founder and CEO, Blinkit.

--IANS

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Mumbai, Jan 16 (IANS) LTIMindtree posted a 7.1 per cent year-on-year increase in revenue to Rs 9,661 crore but the company's net profit fell during the October-December quarter of the current financial year amid rising expenses.

The IT major announced a net profit of Rs 1,087 crore which was 7.1 per cent lower than the corresponding figure for the same quarter of the previous year. It also represented a 13.2 per cent decline over the net profit in the preceding quarter.

LTIMindtree said it has 742 active clients as of December 31, 2024, and added 5 big clients in the $5 million to $50 million category on a year-on-year basis.

The IT major now has 86,800 professionals on its rolls as of December 31, 2024, of which 2,362 were added in Q3 (October-December). The trailing 12 months attrition of the company stands at 14.3 per cent.

The company's banking and financial services segment grew 7.5 per cent on-year, on the back of new deals with clients.

LTIMindtree also said that it had won major deals for its AI platform which included a global manufacturer which chose the company’s ‘AI in Operations’ platform to manage its end-to-end IT landscape. A leading global investment firm has also selected LTIMindtree’s proprietary ‘AI in Infrastructure’ platform to manage its end-to-end infrastructure services.

Apart from this, the company struck two big deals in the Middle East with an oil and gas major and a nuclear energy firm. A New York-headquartered leading provider of credit ratings to implement AI in Application Managed Services.

"Our differentiated AI strategy has helped us record our highest-ever order inflow of $1.68 billion, laying the foundation for future growth. Our ongoing investments in AI, including new partnerships and specialisations, and accolades, support our efforts to continue growing as we enter calendar year 25," said Debashis Chatterjee, CEO and Managing Director of LTIMindtree.

--IANS

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New Delhi, Jan 16 (IANS) Senior officials from UK-based QS World University Rankings on Thursday hailed India’s skills initiatives and its number two ranking in the inaugural ‘QS World Future Skills Index,’ saying this has been made possible due to visionary efforts of Prime Minister Narendra Modi, in order to bring the country forward on creating future in-demand skills.

According to Ashwin Fernandes, Executive Director at UK-based QS World University Rankings, it is a momentous occasion for the people of India.

"India, for the first time, ranks above many developed nations, having an industry that's ready to recruit for jobs of the future. We would like to congratulate the Prime Minister of India, Narendra Modi, for his visionary efforts to bring India forward, especially with skills initiative," said Fernandes.

“The 2020 National Education Policy will finally see the outcomes being reflected in these rankings. We see the rise of India across parameters and education is playing a major role,” he added.

Jessica Turner, the company’s CEO, said that India is the "number two country globally for the future of work in our World Index, right behind the US".

"This is a testament to the innovation in the Indian economy and the ability to create those jobs, that are future facing which are absorbing graduates from Indian universities and creating opportunities for the economy in India and across the world," she mentioned.

PM Modi also hailed insights from the ‘QS World Future Skills Index,’ saying that over the last decade, the government has worked on strengthening youth by equipping them with skills that enable them to become self-reliant and create wealth.

The ‘QS World Future Skills Index’ has ranked India as one of the most prepared job markets for future in-demand skills in emerging technologies. The country was ranked second in the Future of Work category, surpassed only by the US and ahead of Canada and Germany.

--IANS

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New Delhi, Jan 13 (IANS) India Energy Week 2025 (IEW’25) will kick off on February 11 at the Yashobhoomi Convention Centre in the national capital with the participation of over 70,000 delegates from 120 countries, reflecting the growing global appeal of the event, according to a statement issued by the Ministry of Petroleum and Natural Gas on Monday.

The four-day flagship energy event of the Indian government will host around 70 CEOs of prominent international and domestic energy majors, over 700 exhibitors, and 10 pavilions from countries such as the United States, the United Kingdom, Germany, Italy, Japan, and Russia. There will also be 8 thematic zones with the event providing a premier platform to drive the global energy dialogue, showcase breakthrough technologies, and foster international collaboration for a sustainable energy future, the statement said.

IEW will be bigger than ever with unparalleled global participation, including 20+ Foreign Energy Ministers and Deputy Ministers representing advanced economies, the largest energy producers, and key nations of the Global South. The event will also feature heads of leading international organisations and 90 CEOs from some of the world’s largest Fortune 500 energy companies including BP, TotalEnergies, QatarEnergy, ADNOC, Baker Hughes and Vitol, the statement said.

IEW 2025 Incorporates seven key strategic themes (Collaboration, Resilience, Transition, Capacity, Digital Frontiers, Innovation, Leadership) with greater emphasis on pragmatic solutions for decarbonization, energy equity, and low-carbon economies.

The inclusion of 20 thematic categories this year, compared to 18 in 2024, highlights a broader focus on cutting-edge issues such as AI, digitalisation, and maritime decarbonisation. The conference's structured stages - Resilience and Transition - align perfectly with India's dual goals of energy independence and decarbonization, ensuring relevance to global and national agendas alike.

"In IEW2025 we have seen a 29 per cent increase in abstracts received and a 24 per cent increase in speaker participation, emphasising IEW’s stature as a platform for industry innovation. Sessions now cover vital topics like future clean power pathways, grid-scale energy storage, and methane mitigation technologies, reflecting the industry's forward-looking priorities."

The event will witness robust participation from key Indian energy ministries, including the Ministry of Power, the Ministry of New and Renewable Energy (MNRE), NITI Aayog, and the Ministry of Mines and Minerals. This reflects a whole-of-government approach, ensuring seamless collaboration and comprehensive engagement across the entire energy sector, underscoring India’s commitment to integrated and inclusive energy solutions, the statement observed.

The event will also place a special emphasis on showcasing India’s transformative efforts across the entire energy landscape including strengthening energy security and promoting energy justice, amplifying the voice of the Global South, and unveiling the immense investment opportunities within India’s hydrocarbon sector. It will also spotlight India’s advancements in renewable energy and cutting-edge technologies such as battery storage, 2G and 3G biofuels, green ammonia, and hydrogen production, positioning the nation as a global leader in sustainable and innovative energy solutions, the statement added.

Highlighting the significance of this prestigious event, Petroleum and Natural Gas Secretary Pankaj Jain remarked: "IEW 2025 offers a platform where global stakeholders can freely exchange ideas and explore opportunities. As a springboard for collaboration on key energy projects, including green hydrogen technologies, solar innovations, or advanced exploration techniques, this event represents a crucible of global energy innovation."

IEW 2025 will also feature impactful side events to foster global collaboration and innovation in the energy sector. Key among them is the Clean Cooking Ministerial, which will focus on accelerating the global adoption of clean cooking solutions. This event offers India an opportunity to showcase its success stories, such as the Pradhan Mantri Ujjwala Yojana (PMUY), as a model for driving access to clean cooking energy.

In line with India’s commitment to fostering a thriving startup ecosystem and promoting innovation, IEW 2025 will host the Avinya Energy Startup Challenge 2.0. The top five startups from this challenge will gain exclusive access to showcase their cutting-edge solutions at the event, significantly boosting their global visibility and impact, the statement added.

--IANS

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