India’s Love for OTT Platforms Continues
India’s booming digital landscape is evident in its high internet user base. As of 2023, over 800 million Indians use the internet, with a staggering 86% (707 million) utilizing it for entertainment through OTT platforms. However, the internet’s potential for learning remains largely untapped, with only 3% (24 million) using it for online education, according to a joint report by KANTAR and IAMAI.
Fintech Takes Center Stage
The Reserve Bank of India (RBI) recently granted a payment aggregator license to Amazon Pay, allowing it to facilitate e-commerce transactions through its app. This move further strengthens the presence of fintech companies in the Indian market. Additionally, shares of One97 Communications, the parent company of Paytm, surged 5% on Tuesday, reaching its daily trading limit.
TechSparks Mumbai: Get Ready for Innovation
The highly anticipated TechSparks event is just around the corner, bringing together tech enthusiasts and industry leaders in Mumbai. Stay tuned for exciting developments and insights from the event.
Sustainability: Giving Spent Grain a Second Life
Elizabeth Yorke’s journey began in 2016 when she encountered the concept of spent grain, a by-product of the brewing industry. Recognizing its potential, she founded Saving Grains in 2021. This initiative upcycles spent grain into flour, used to create various food items like crackers, cookies, bread, and even traditional Indian sweets like ladoos. Yorke’s focus extends beyond product creation; she aims to foster a closed-loop system by collaborating with communities like the Kutumba Community Centre in Bengaluru, where a micro-unit transforms spent grain into flour.
Zoho Enters the POS Arena
Chennai-based Zoho Corporation, a leading SaaS provider, has launched Zakya, its modern point-of-sale (POS) solution. This solution caters to small and medium retail stores, streamlining their daily operations and enabling centralized monitoring. Zakya offers features like improved inventory management, omnichannel sales capabilities, and enhanced customer experiences. Notably, the solution can be implemented within an hour and even facilitates uninterrupted billing during offline periods through its mobile app. Additionally, the app supports ten Indian languages, making it accessible to a wider audience.
Taking the Plunge at 49: Uma Mani’s Inspiring Story
Uma Mani’s journey into ocean conservation is an embodiment of resilience and passion. At the age of 49, she took her first underwater dive, igniting a deep commitment to protecting our oceans. Her story is documented in the award-winning film “Coral Woman,” highlighting her dedication to raising awareness about the plight of coral reefs. Mani emphasizes the crucial role coral reefs play in protecting coastlines, drawing attention to the devastating impact they faced during the 2004 tsunami compared to the Maldives, which were shielded by these natural barriers. Today, Mani continues to champion ocean conservation efforts, educating students and organizations about the importance of protecting our marine ecosystems and mitigating climate change.
Global News Flashes
- Cryptocurrency Rally: Bitcoin witnessed a significant surge, reaching a two-year high, fueled by increased investments from major players. Smaller rival Ethereum also saw a price increase, exceeding $3,200 for the first time since 2022.
- Layoffs in the Tech Industry: Sony Interactive Entertainment announced job cuts affecting 900 employees in its PlayStation unit, representing 8% of its global workforce. This follows the trend of other tech companies adopting cost-cutting measures.
- Data Center Shortage in Europe: The demand for artificial intelligence is putting immense pressure on data center capacity in Europe. Major tech companies are expanding their facilities to address this growing need.
This daily news roundup provides a glimpse into various developments across different sectors, showcasing India’s booming digital landscape, inspiring stories of individual efforts, and noteworthy global trends. Stay informed and engaged with the ever-evolving world around you!
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