New Delhi (The Hawk): The Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal has said India looks forward to&nbsp;significant transformational and exponential growth in its trade with Italy. Co-chairing the India-Italy Business Roundtable with Mr. Luigi Di Maio, Minister of Foreign Affairs &amp; International Cooperation, Republic of Italy, here today, Shri Goyal said there are several opportunities in sectors ranging from tourism, services, merchandise, goods to digital world, education and design.“Today's engagement is only the first in a series that we are planning between India and Italy. A world of 1.35 billion Indians awaits, aspires for a better future. India offers the largest business opportunity anywhere in the world as we progress from a $3 Trillion economy today to a $10 Trillion economy in ten years to a $30 Trillion economy in 20 odd years and to a $50 Trillion economy, which I believe we all are committed to, particularly when we see that we still are at very, very initial stages of development in the country, - the large size of the market, the deep aspirations of the people of India and the talent and the world of opportunity that India provides, I hope, will businesses on both sides to strengthen their partnerships,” said Shri Goyal, in his opening remarks at the meeting.Speaking on the occasion, Mr. Luigi Di Maio said Italy and India are experiencing a dynamic economic cooperation. The Italian Government is eager to reinforce cooperation between the two countries at the industry level as well as between entrepreneurs, he said.“Today’s meeting is an important step forward in shaping our strategic partnership,” said Mr. Luigi Di Maio, adding, “Many Italian companies, in their long term strategy, consider India as a key country whose market will drive growth on a global scale.”Mr. Luigi Di Maio said bilateral trade between India and Italy reached a record Euro 10 Billion in 2020-21.“Over 600 Italian companies, mainly concentrated around Delhi and Mumbai, employ about 50,000 local staff with a global turnover of Euro 5 Billion,” he said.&nbsp;Earlier, Shri Goyal had a very constructive discussion with Mr. Luigi Di Maio during their one-to-one meeting on multiple issues of bilateral interests such as enhancing trade and investment opportunities, India-EU FTA negotiations, cooperation in the framework of the WTO, Tech Summit on energy transition, resumption of direct commercial flights and promotion of SMEs’ partnerships etc.Due to the active relationship between India and Italy and the regular resolution of issues, Shri Goyal suggested evolving and expanding the fast track mechanism established between India and Italy to focus on enhancing economic cooperation and harnessing bilateral trade and investment potential to establish complementarities across focus sectors.Both ministries reiterated the need and potential for closer industrial collaborations and further expand partnerships and establish trade and investment linkages across priority areas such as railways, defence and aviation, automotives &amp; electric mobility, food processing, leather, textiles and fashion, infrastructure financing, fintech, green energy, telecom, energy transition, and space and technology cooperation.

The Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal has said India looks forward to significant transformational and exponential growth in its trade with Italy.

India looks forward to significant transformational and exponential growth in its trade with Italy: Piyush 

New Delhi (The Hawk): The wave of Unicorns in India has soared to new heights as the country witnessed the birth of its 100th Unicorn on 2nd May 2022. Today, 1 out of every 10 unicorns globally have been born in India.Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal highlighted the achievement in a tweet.&nbsp;The term ‘Unicorn’ refers to the rarest of the rare startups who become Unicorns attaining a valuation of more than USD 1 billion. The Indian Startup Ecosystem, the third-largest in the world in number of Unicorns, as of 5th May 2022, is home to 100 unicorns with a total valuation of USD 332.7 billion.&nbsp;2021 experienced a huge surge in the number of unicorns, registering a total of 44 startups entering the Unicorn club through the year with a total valuation of USD 93 billion.&nbsp;In the first four months of 2022, India has given birth to 14 unicorns with a total valuation of USD 18.9 billion.The entrepreneurial spirit exists throughout the length and breadth of the country and is evident by the spread of the Department for Promotion of Industry and Internal Trade (DPIIT) recognized startups across 647 Indian districts encompassing all 36 States and Union Territories.&nbsp;Since the launch of the Startup India initiative on 16th January 2016, more than 69,000 startups have been recognized in the country till 2nd May 2022.&nbsp;Innovation in India is not just limited to certain sectors; we have recognized startups solving problems in 56 diverse sectors with 13% from IT services, 9% healthcare and life sciences, 7% education, 5% professional and commercial services, 5% agriculture, and 5% food &amp; beverages.While every startup has its unique journey to becoming a unicorn, the minimum and maximum time taken by a startup to become a unicorn in India are 6 months and 26 years, respectively. Till FY 2016-17, approximately one unicorn was being added every year. Over the past four years (since FY 2017-18), this number has been increasing exponentially, with a whopping 66% Year-on-Year growth in the number of additional unicorns being added every year.As we hit the milestone of a century in Indian unicorns, the homegrown startup ecosystem continues to work effectively towards the mission of self-reliance and self-sustainability as they have been in the past. The vision of Atmanirbhar Bharat is rooted deeply in the Startup Ecosystem and shall continue to prevail in the coming years.

The wave of Unicorns in India has soared to new heights as the country witnessed the birth of its 100th Unicorn on 2nd May 2022. Today, 1 out of every 10 unicorns globally have been born in India.

India sees the emergence of the 100th unicorn

New Delhi: Wholesale price-based inflation spiked to a record high of 15.08 per cent in April on rising prices across segments from food to commodities.Points to note:1) The WPI-based inflation was 14.55 per cent in March and 10.74 per cent in April last year.2) According to the Commerce and Industry Ministry, the high rate of inflation in April 2022 was primarily due to rise in prices of mineral oils, basic metals, crude petroleum &amp; natural gas, food articles, non-food articles, food products and chemicals &amp; chemical products etc. as compared to the corresponding month of the previous year3) The WPI inflation has remained in double digit for the 13th consecutive month since April last year.4) Inflation in food articles was 8.35 per cent, as prices of vegetables, wheat, fruits and potato witnessed sharp spike over the year-ago period.5) In the fuel and power basket, inflation was 38.66 per cent, while in manufactured products and oil seeds, it was 10.85 per cent and 16.10 per cent, respectively.6) Inflation in crude petroleum and natural gas was 69.07 per cent in April.7) Data released last week showed that retail inflation rose to a near 8-year high of 7.79 per cent in April, remaining above the Reserve Bank's inflation target for the fourth straight month.8) To tame stubbornly high inflation, the RBI earlier this month hiked its key interest rate by 0.40 per cent and cash reserve ratio by 0.50 per cent in a surprise move.—PTI

Wholesale price-based inflation spiked to a record high of 15.08 per cent in April on rising prices across segments from food to commodities.  

WPI inflation at record high of 15.08% in April: 8 points

Wholesale price-based inflation spiked to a record high of 15.08 per cent in April on rising prices across segments from food to commodities.



New Delhi: In the latest string of layoffs in the funding winter, conglomerate Indiabulls' social commerce platform Yaari has reportedly laid off nearly 150 employees which makes 60 per cent of its workforce.According to a report in the leading startup news coverage portal Inc42, Yaari is likely to be merged with another Indiabulls-backed entity called 'Dhani', which is an ecommerce platform.The layoffs reportedly occurred in the last week of April across supply support, customer support, business development and marketing verticals, and the company allegedly did not extend any severance package or health benefits to those impacted by the round of layoff. The company was yet to react to the report that came out on Tuesday. Yaari is a social commerce marketplace for customised consumer products. Yaari Digital Integrated Services launched the social commerce marketplace in March last year, to enable small businesses and resellers to start their business online via social channels such as WhatsApp, Facebook and Instagram etc.The Yaari app was built to have a variety of products to choose from, that the individual resellers can resell among their social contacts. The app also provides aspiring entrepreneurs, especially men, the ease to start an online business from home by taking away risk of inventory management, payments and even order fulfilment. The latest round of layoffs came as the Indian startup ecosystem is reeling under severe tremors owing to global macro-economic factors like the war, high inflation, rising interest rates and China lockdowns. To date, over 8,000 startup employees have lost their jobs in India -- led by edtech companies -- and the list is only growing. Although, the figure may be more if we take contractual workers into the account. The situation is set to get worse with recession looming and VC funding drying up in the Indian startup ecosystem that received about $42 billion funding last year.—: IANS

In the latest string of layoffs in the funding winter, conglomerate Indiabulls' social commerce platform Yaari has reportedly laid off nearly 150 employees which makes 60 per cent of its workforce.

Indiabulls-Run Social Commerce Platform Yaari Lays Off 150 Workers

Lucknow: Uttar Pradesh deputy chief minister Brajesh Pathak has said that the state government was focusing on ease of doing business, along with maintaining good law and order.He said that the government is working and taking necessary steps to attract investment and boost employment opportunities in the state, especially in the Micro, Small and Medium Enterprises (MSMEs) sector. Pathak was speaking at a two-day conference, organised by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) in association with the Ministry of MSME, Union Government.The conference, which aims to develop cottage and small-scale industries and improve their competitiveness, is being organised at a time when the country is celebrating the Amrit Mahotsav of Independence.The deputy chief minister assured all possible help to the industry body in its efforts to increase investment in the state and lauded ASSOCHAM for organising this conference, in which entrepreneurs from within the country and around the world are participating, in Lucknow.He said that his government first focused on improving law and order to create a better environment for investors in the state.Entrepreneurs, who used to shy away from investing in Uttar Pradesh, have started investing in the state after the situation improved. Apart from having skilled manpower available, there is also a huge market. The deputy chief minister added that the government has introduced a single-window system for the convenience of entrepreneurs so that all types of approvals can be given to them at one place. For speedy settlement of commercial disputes, the state government has opened 13 new commercial courts in the last five years.He said that the MSME sector contributes close to 50 per cent of the country's export sector. At the same time, this sector accounts for about 30 per cent of the country's GDP. In such a situation, the role of MSMEs becomes crucial in making India a stronger position in global trade. —IANS

Uttar Pradesh deputy chief minister Brajesh Pathak has said that the state government was focusing on ease of doing business, along with maintaining good law and order.

UP Govt's Focus On Ease Of Doing Business, Good Law And Order: Pathak

New Delhi (The Hawk): The Union Minister of State for Consumer Affairs, Food and Public Distribution, Shri Ashwini Kumar Choubey in a written reply to a question in Lok Sabha today informed that the Legal metrology (Packaged Commodities) Rules 2011 under the Legal Metrology Act, 2009 provides that an E-Commerce entity shall ensure that name and address of the manufacturer or packer or importer, maximum Retail Price (MRP), Country of Origin, Common or Generic name of the commodity, Net Quantity, Month and Year of manufacture, Customer Care details etc shall be displayed on the digital and electronic network used for e-commerce transactions.&nbsp;This is to ensure that the consumer is taking an informed and conscious decision based on the declaration of the product on the E-Commerce platform.For violations of declaration by e-commerce companies, 38 notices during the period of 16th October, 2020 to 31st December, 2020, 232 notices during the period 1st January 2021 to 31st December, 2021 and 178 notices during the period 1st January, 2022 to 11th July, 2022 have been issued by the Legal Metrology Division, Department of Consumer Affairs and an amount of approximately Rs.&nbsp;77, 90,500/- in the form of compounding fees has been realized from e-commerce companies. State Governments are also empowered to take actions in cases of violation of the Legal Metrology (Packaged Commodities), Rules 2011.

The Union Minister of State for Consumer Affairs, Food and Public Distribution, Shri Ashwini Kumar Choubey in a written reply to a question in Lok Sabha. 

448 notices served to E-Commerce entities for violations of declaration during last one year and nine months

New Delhi: The Department of Consumer Affairs has constituted a committee to develop a framework on checking fake and deceptive reviews in e-commerce.Under the provisions of the Consumer Protection Act, 2019, a Central Consumer Protection Authority (CCPA) has been established, w.e.f July 24, 2020 to regulate matters, inter alia, relating to false or misleading advertisements which are prejudicial to the interests of public and consumers as a class, said the Minister of State, Consumer Affairs, Ashwini Choubey in the Lok Sabha on Wednesday. The CCPA has issued 24 notices for unfair trade practices against e-commerce companies and issued two Safety Notices to alert and make consumers cautious against buying household goods like pressure cookers, helmets, etc. that do not conform to the Bureau of Indian Standards, said the reply. The CCPA has notified the Guidelines for Prevention of Misleading Advertisements and Endorsements for Misleading Advertisements on June 9, 2022. These guidelines provide for; (a) conditions for an advertisement to be non-misleading and valid; (b) certain stipulations in respect of bait advertisements and free claim advertisements; and, (c) prohibition of surrogate advertisements. The Ministry is looking to develop a framework to keep a check on fake reviews posted on e-commerce websites to protect consumer interest. Earlier, the consumer affairs ministry along with other stakeholders, including the Advertising Standards Council of India (ASCI) held a meeting with stakeholders, including e-commerce entities, to discuss how paid, unverifiable reviews make it challenging for consumers to recognise genuine reviews. --IANS

The Department of Consumer Affairs has constituted a committee to develop a framework on checking fake and deceptive reviews in e-commerce.

Govt panel to develop framework on checking fake, deceptive reviews in e-commerce

New Delhi: India's wholesale inflation came down to 13.93 per cent in July, data released by the Ministry of Commerce &amp; Industry showed on Tuesday.
The wholesale price index (WPI) had spiked to 15.18 per cent during the month of June. The WPI in July 2021 was at 11.57 per cent.&nbsp;
Inflation in July, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum and natural gas, basic metals, electricity, chemicals &amp; chemical products, food products, etc., as compared to the corresponding month of the previous year, said the ministry.
The index for Primary Article group (weight 22.62 per cent) declined by 2.69 per cent to 177.5 (provisional) in July, 2022 from 182.4 (provisional) for the month of June, 2022. Prices of Minerals (0.96 per cent) increased in July, 2022 as compared to June, 2022. Prices of Food Articles (-2.56 per cent), Non-food Articles (-2.61 per cent) and Crude Petroleum &amp; Natural Gas (-5.05 per cent) declined in July, 2022 as compared to June, 2022, said the ministry.
However, the index for Fuel and Power group increased by (6.56 per cent) to 165.6 (provisional) in July, 2022 from 155.4 (provisional) for the month of June, 2022. Prices of Mineral Oils (7.95 per cent) and Electricity (6.38%) increased in July, 2022 as compared to June, 2022.
The index for Manufactured Products group declined by 0.42 per cent to 143.1 (provisional) in July, 2022 from 143.7 (provisional) for the month of June, 2022.
The Food Index consisting of 'Food Articles' from Primary Articles group and 'Food Product' from Manufactured Products group have decreased from 178.4 in June, 2022 to 174.4 in July, 2022. The rate of inflation based on WPI Food Index decreased from 12.41 per cent in June, 2022 to 9.41 per cent in July, 2022, said the ministry.&nbsp;
—IANS

India's wholesale inflation came down to 13.93 per cent in July, data released by the Ministry of Commerce & Industry showed on Tuesday.

 Wholesale Price Index (WPI) comes down to 13.93% in July

Lucknow: A man and three delivery agents scammed an ecommerce website offor Rs 50 lakh in the state capital. The police have now arrested Sachin Tiwari, mastermind of the gang and his aides Shubham Yadav and Vikas Yadav, Dharamveer Yadav, Ravindra Kumar Yadav and Abhishek Dubey. The scam surfaced during an internal audit of the company at its Lucknow-based office when bookings of electronic gadgets on fake addresses were found to be stolen between September 23 and September 26. The delivery on these fake addresses was done by the same agents. Later, an FIR was lodged and investigations got underway. Ravindra, Shubham and Dharmveer worked as delivery agents with a company assigned with goods' delivery work and they helped Sachin and others in executing the theft. The police recovered 43 Apple mobile phone sets, seven tablets, one I-pad, 25 USB cables, two bundles of tapes of an online shopping company and other items which they used in opening and repackaging boxes.
Ashutosh Kumar, assistant commissioner of police, said, "Ravindra, Shubham and Dharamveer, in connivance with Sachin, placed orders for electronic gadgets while referring to addresses of their choice. Since they worked as delivery agents, they knew well in advance about the arrival of goods." He said that after receiving the goods the miscreants used to take out items from boxes, replacing them with clay. Then they repackaged the boxes in their original shape and later the miscreants returned the boxes to the warehouse, mentioning that addresses of customers were untraceable and finally the boxes were returned to the online shopping company. The online shopping company wrote to the firm engaged in goods' delivery in Lucknow to probe who is replacing items in the boxes with clay, the police said. The Lucknow-based company conducted a probe and finally the cluster manager lodged an FIR against Ravindra, Shubham and Dharamveer and their leader Sachin.
—IANS

A man and three delivery agents scammed an ecommerce website offor Rs 50 lakh in the state capital. The police have now arrested Sachin Tiwari, mastermind of the gang and his aides Shubham Yadav and Vikas Yadav, Dharamveer Yadav, Ravindra Kumar Yadav and Abhishek Dubey.

 Six held for scamming e-commerce website in UP

A man and three delivery agents scammed an ecommerce website offor Rs 50 lakh in the state capital.
The police have now arrested Sachin Tiwari, mastermind of the gang and his aides Shubham Yadav and Vikas Yadav, Dharamveer Yadav, Ravindra Kumar Yadav and Abhishek Dubey.

Lucknow: A man and three delivery agents scammed an e-commerce website of Rs 50 lakh in the state capital.
The police have now arrested Sachin Tiwari, mastermind of the gang and his aides Shubham Yadav and Vikas Yadav, Dharamveer Yadav, Ravindra Kumar Yadav and Abhishek Dubey.
The scam surfaced during an internal audit of the company at its Lucknow-based office when bookings of electronic gadgets on fake addresses were found to be stolen between September 23 and September 26. The delivery on these fake addresses was done by the same agents. Later, an FIR was lodged and investigations got underway. Ravindra, Shubham and Dharmveer worked as delivery agents with a company assigned with goods' delivery work and they helped Sachin and others in executing the theft. The police recovered 43 Apple mobile phone sets, seven tablets, one I-pad, 25 USB cables, two bundles of tapes of an online shopping company and other items which they used in opening and repackaging boxes.
Ashutosh Kumar, assistant commissioner of police, said, "Ravindra, Shubham and Dharamveer, in connivance with Sachin, placed orders for electronic gadgets while referring to addresses of their choice. Since they worked as delivery agents, they knew well in advance about the arrival of goods."
He said that after receiving the goods the miscreants used to take out items from boxes, replacing them with clay.
Then they repackaged the boxes in their original shape and later the miscreants returned the boxes to the warehouse, mentioning that addresses of customers were untraceable and finally the boxes were returned to the online shopping company. The online shopping company wrote to the firm engaged in goods' delivery in Lucknow to probe who is replacing items in the boxes with clay, the police said.
The Lucknow-based company conducted a probe and finally the cluster manager lodged an FIR against Ravindra, Shubham and Dharamveer and their leader Sachin. —IANS

A man and three delivery agents scammed an e-commerce website of Rs 50 lakh in the state capital.

Six Held For Scamming E-Commerce Website In UP

Las Vegas (The Hawk): Oracle has introduced new services that will integrate and automate complete business-to-business (B2B) transactions to aid firms in lowering operating expenses, enhancing customer experiences, and introducing new products. The new Oracle B2B Commerce connects more than 40,000 buyers, sellers, and service providers directly via Oracle Cloud Enterprise Resource Planning, eliminating the disparate systems, processes, and data integration difficulties that make B2B transactions so complex (ERP). For instance, Oracle B2B Commerce will offer integrations with J.P. Morgan's Payments business, which consists of the bank's treasury, trade, commercial card, and merchant services capabilities, for integrated banking and J.P. Morgan travel card and expenses services, as well as a planned integration with logistics services as part of the FedEx Compatible programme.
According to Rondy Ng, executive vice president of applications development at Oracle, "trading partners must engage in numerous manual interactions to complete a deal. Each step in the process adds time and inefficiencies, introduces the possibility of human error, and diverts buyers and sellers from more strategic work." Our customers will be able to automate buying, selling, financing, shipping, billing, and payments with the help of Oracle B2B Commerce's integrations with J.P. Morgan Payments and FedEx, which will help them lower their costs of doing business.
To digitise the entire B2B commerce process for shared customers, Oracle B2B Commerce will integrate direct connectivity between Oracle Cloud ERP and service providers such as J.P. Morgan Payments and FedEx as well as other financial services companies, insurance companies, and delivery services. It will also use a unified data model and secure workflows. Oracle B2B Commerce helps hasten transaction completion and enhance customer experience by enabling 40,000 organisations to exchange information and trade in real-time with all trading parties. Additionally, it enables businesses to provide new services, such as fresh payment methods.
Customers of both J.P. Morgan Payments and Oracle Cloud ERP will gain from a direct integration.
Deliver turnkey connectivity and integration with J.P. Morgan Payments to provide integrated banking services that dramatically lower the technical complexity and set-up time for payments. Customers will be able to integrate specific J.P. Morgan Payments offerings and start using cloud-based enterprise resource planning (ERP) within hours, doing away with the need for weeks of technical integration work during implementation. The efficiency of money capture, cash payout, and credit card processing are all maximised by fully automated end-to-end payment processing. Real-time cash positions also allow for timely, accurate cash forecasting.
J.P. Morgan integrated travel card and expenses Through a novel touchless mobile experience, enhance employee experience and shorten the reimbursement cycle. Authorization information will be supplied in almost real-time when a J.P. Morgan corporate card linked to a mutual client is charged, ensuring that business spending are automatically documented, itemised, and audited. As a result, filing time-consuming expenditure reports is no longer necessary, and approvals are processed more quickly.
Hubert According to J.P. Jolly, worldwide co-head of corporate and online sales at J.P. Morgan Payments, "Our objective is to offer innovative payment solutions that change the financial services industry. In order to do this, we must be present where our consumers conduct business. We are excited to collaborate with Oracle to provide its clients with seamless access to J.P. Morgan Payments' services, which include better cash flow insights and assistance with speeding up business transactions."
The following benefits will be available to Oracle Cloud ERP clients through a future FedEx Compatible programme solution:
Integrated Logistics Services: Provide native on-boarding, real-time rate quotation, shipping, and tracking capabilities instead of using proprietary integrations. Oracle also intends to provide cutting-edge technologies to assist in streamlining logistics operations to save delivery costs and boost performance.
Oracle Cloud Applications are used by businesses of all sizes to manage their most crucial business processes. The scalability, security, and performance that today's organisations require are delivered by Oracle's portfolio of industry-specific applications, Oracle NetSuite, and the Oracle Fusion Cloud Applications Suite, which are all built and run on Oracle Cloud Infrastructure. Every quarter, Oracle's self-updating platform gives customers access to the most cutting-edge technology in the market, enabling businesses to quickly create, develop, automate, adapt, and take advantage of new business opportunities.
(Inputs from Agencies)

Oracle has introduced new services that will integrate and automate complete business-to-business (B2B) transactions to aid firms in lowering operating expenses, enhancing customer experiences, and introducing new products.

Oracle develops B2B Commerce service to save business costs

New Delhi: The wholesale price-based inflation declined to 2-year low of 4.73 per cent in January on easing prices of manufactured items, fuel and power, even though food articles turned expensive.
This is the eight straight month of decline in the rate of wholesale price-index (WPI) based inflation. It was 4.95 per cent in December 2022 and 13.68 per cent in January last year.
“Decline in the rate of inflation in January, 2023 is primarily contributed by mineral oils, chemicals &amp; chemical products, textiles, crude petroleum &amp; natural gas, textiles, and food products,” the Commerce and Industry Ministry said on Tuesday.
The decline in the rate of price rise was mainly due to a favourable base effect, economists said, adding that going forward, softening commodity prices would help ease WPI inflation further. Although inflation in manufactured items softened, in the case of food articles it rose to 2.38 per cent in January, from (-) 1.25 per cent in December, 2022. Inflation in pulses was 2.41 per cent, while in vegetables it was (-) 26.48 per cent. Inflation in oil seeds was (-) 4.22 per cent in January, 2023. Fuel and power basket inflation eased to 15.15 per cent, from 18.09 per cent in December 2022. In manufactured products it was 2.99 per cent, against 3.37 per cent in December, 2022.
Deloitte India, Economist, Rumki Majumdar said high base effect and falling global prices are aiding in reduced manufacturing prices. “We expect the cost of production to remain steady in the near future. Rising food prices are keeping the inflation index higher, which is of concern. Higher food prices also contributed to a higher CPI,” Majumdar said. Bank of Baroda Chief Economist Madan Sabnavis said WPI inflation may be expected to trend further downwards in the next two months and could end at closer to 4 per cent by March. India Ratings &amp; Research Chief Economist Sunil Kumar Sinha said it expects the wholesale inflation to cool off further to 3.7 per cent in February 2023 due to the high base effect (February 2022: 13.4 per cent) and softening of global commodity prices.
The deceleration in January WPI comes in contrast to the retail inflation data released on Monday which showed consumer price index (CPI) or retail inflation rose to 6.52 per cent in January, from 5.72 per cent in December, 2022.
In its monetary policy review last week, the RBI hiked policy rates by 25 basis points to 6.50 per cent saying core inflation still remains sticky.
Consumer price index-based inflation had moved below the upper tolerance level of 6 per cent during November-December 2022, driven by a strong decline in prices of vegetables. Assuming an average crude oil price (Indian basket) of USD 95 per barrel, RBI bettered inflation projection for current fiscal to 6.5 per cent in 2022-23, from 6.8 per cent predicted earlier. In the January-March quarter, the RBI expects retail inflation to average at 5.7 per cent.
Barclays, MD &amp; Head of EM Asia (ex-China) Rahul Bajoria said risks of another rate hike in April have risen after the retail inflation print, in which bulk of the upside was driven by food prices, and not by core inflation.
—PTI

The wholesale price-based inflation declined to 2-year low of 4.73 per cent in January on easing prices of manufactured items, fuel and power, even though food articles turned expensive.

WPI Inflation Eases To 2-year Low Of 4.73 Pc In Jan; Food Items Turned Expensive

New Delhi: Commerce and industry minister Piyush Goyal suggested on Friday that the industry set a goal of exporting organic products worth USD 1 billion by 2030.
This was during his speech to the Gangtok audience of the Sikkim Chamber of Commerce and Industry's interaction programme.
"He urged to set a target to export USD 1 billion organic product by 2030 from existing USD 1 million organic produce in Sikkim," the ministry said in a statement.—Inputs from Agencies

Commerce and industry minister Piyush Goyal suggested on Friday that the industry set a goal of exporting organic products worth USD 1 billion by 2030

Let us set a target to export organic products worth USD 1 billion by 2030: Goyal

Bengaluru: A youth in Karnataka's Hassan allegedly stabbed an e-commerce delivery boy to death as he did not have money to pay for a second-hand iPhone that he had ordered online, police said on Sunday.
Police sources said that the accused, who has been arrested, had stored the victim's body in a gunny bag at his home for three days before he managed to shift it out and burn it.
The incident occurred on February 7 in Arsikere town of Hassan and both victim and the accused shared the same first name - Hemanth.
According to the police, Hemanth Dutt, 20, had recently placed an order for a second-hand iPhone on an e-commerce portal. When the instrument was delivered to his home by Hemanth Naik, the accused asked him to wait inside while he went to get the money from another room.
Instead, the accused allegedly returned with a knife and stabbed the unsuspecting delivery boy several times, killing him.
The crime was solved with the help of CCTV footage which showed that the accused had transported the victim's body on his two-wheeler, as well as purchased petrol for burning it.
—IANS

 A youth in Karnataka's Hassan allegedly stabbed an e-commerce delivery boy to death as he did not have money to pay for a second-hand iPhone that he had ordered online, police said on Sunday.

Karnataka Youth Orders  Second-Hand iPhone Online, Murders Delivery Boy

New Delhi: US Commerce Secretary Gina Raimondo on Friday said the US would like to see India achieve its aspirations to play a larger role in the electronic supply chain. During the opening remark of a joint press conference in New Delhi, Raimondo said,"The memorandum of understanding (MoU) that we signed is designed to help achieve that goal."
The US Commerce Secretary said that the US had already begun with action and the MoU was tasking both the Indian and American semiconductor industries to prepare an assessment of where they have gaps and the lack of resiliency in the supply chain and that will guide their work. "We are absolutely thrilled to be working with India as part of the Indo-Pacific economic framework (IPEF). Through IPEF, the United States, India and a dozen other partners are developing policies to create more resilient and secure supply chains, accelerate progress, green transitions and demonstrate our commitment to fostering a better business environment," she said.
The US Commerce Secretary said that India's desire to expand advanced manufacturing and its presence in the supply chain is totally aligned with the United States.
"We had a fantastic meeting with my team and his team this morning during the US-India Commercial Dialogue and importantly, we are committed to making sure that out of this dialogue will be a concrete, actionable, steady drumbeat of deliverables for both of our economies," she said.
Raimondo said, "I have come with CEOs of top US companies and we look forward to hearing from the private sector and their recommendations, which are also specific and action-oriented around how the US and India can expand our commercial ties and create more economic opportunity and create good paying jobs in both of our countries."
Raimondo said that this was an optimistic time for the US-India relationship and she was so honoured to be here in Delhi. "I want to be very clear that our partnership with India is one of our most consequential and as strong as it is today. I believe we're entering into a period of increasing strength and closeness between the US and India," Raimondo said, adding, "Our relationship is founded on a strong foundation of a common set of values, grounded in our democratic traditions, along with a commitment to promoting a free open rules-based order and that is something that has bound us together for decades and will continue to underpin this relationship for decades to come."
She added, "Laid upon that foundation is a moment now of several combining forces, where there is a real opportunity for both of our countries to work together an opportunity for us to expand our economic relationship. I reaffirm our role as trusted partners, creating jobs in both of our countries and establishing more resilient and secure supply chains."
—ANI

US Commerce Secretary Gina Raimondo on Friday said the US would like to see India achieve its aspirations to play a larger role in the electronic supply chain.

We Would Like To See India To Play Larger Role In The Electronic Supply Chain: US Commerce Secretary

We Would Like To See India To Play Larger Role In The Electronic Supply Chain: UD Commerce Secretary

New Delhi: Prime Minister Narendra Modi on Friday met with US Secretary of Commerce Gina Raimondo, who was in India from March 7-10, the Prime Minister's Office said on Saturday.
Taking to Twitter, Prime Minister's Office tweeted, "US Secretary of Commerce @SecRaimondo had a fruitful meeting with PM @narendramodi yesterday."&nbsp;
Raimondo also met Union Minister of Commerce and Industry Piyush Goyal and held delegation-level talks on Friday. A Commercial Dialogue was held and several Memorandums of Understanding were signed between India and the US. During the joint statement, the US Secretary of Commerce said that both India and the US have recognised they have to be a quality supplier and consumer of goods and services. While announcing that many companies in the US are interested in investing in India, Raimondo said, "Many of the actions India has taken under Prime Minister Modi's leadership, even over the past couple of years, make India an even more attractive place to do business. More transparency, the rapid move to a digital economy, absolutely zero tolerance for corruption, all of those things make India an even more attractive partner." India and the US signed a memorandum of understanding (MoU) on the semiconductor supply chain and innovation partnership, re-launched with a strategic outlook with a focus on supply chain resiliency and diversification and new emerging areas, after a gap of three years.
The last India-USA Commercial Dialogue was held in February 2019. Since then, due to the pandemic and other factors it could not be held.
Earlier, India-US CEO Forum was soft-launched by the Indian Commerce and Industry Minister and US Secretary of Commerce on November 9, 2022, via video-conference for which identified key priorities were increasing supply chain resilience, enhancing energy security and reducing overall greenhouse gas emissions, advancing inclusive digital trade; and facilitating post-pandemic economic recovery, especially for small businesses.
The MoU seeks to establish a collaborative mechanism between the two governments on semiconductor supply chain resiliency and diversification in view of the US's CHIPS and Science Act and India's semiconductor Mission. It aims to leverage the complementary strengths of both countries and facilitate commercial opportunities and the development of semiconductor innovation ecosystems through discussions on various aspects of the semiconductor value chain. The MoU envisages mutually beneficial research and development, and talent and skill development.
—ANI

Prime Minister Narendra Modi on Friday met with US Secretary of Commerce Gina Raimondo, who was in India from March 7-10, the Prime Minister's Office said on Saturday.

PM Modi Meets Us Secretary Of Commerce Gina Raimondo

PM Modi Meets US Secretary Of Commerce Gina Raimondo

New Delhi News: A Parliamentary panel has held that the delay in the enactment of the Personal Data Protection Bill 2019 - which was withdrawn by the government in August 2022 for further scrutiny amid concerns raised by stakeholders and political parties owing to several loopholes in it - will have an adverse impact on the economy.

It has asked the government to formulate a separate policy for personal and non-personal data.

The Rajya Sabha's Standing Committee on Commerce, in its report on "Promotion and Regulation of E-commerce", which was recently tabled in Parliament during the ongoing budget session, while noting the delay in the Personal Data Protection Bill, said: "The delay in enactment of the bill will have an adverse impact on economy on account of failure to capitalise on the virtual treasure trove that data has provided."

It further noted that any "absence of a clear cut data regulatory framework could also hinder the maximum exploitation of data which is considered as the new oil".

The panel, which is headed by Congress MP Abhishek Manu Singhvi, added that the delay in having a dedicated data protection regulation has occurred at a time when there is an urgent requirement for a robust data policy.

It has therefore recommended that the Ministry of Electronics and Information Technology should make concerted efforts to formulate a data policy on personal and non-personal data.

The government had withdrawn the Personal Data Protection Bill 2019 from the Parliament in August last year after a joint parliamentary panel had recommended 81 amendments in it and 12 recommendations were made towards a comprehensive legal framework for a digital ecosystem.

While withdrawing the bill, Electronics and IT Minister Ashwini Vaishnaw had said that the bill was being taken back in order to bring a legislation that fits into the comprehensive legal framework, as suggested by the joint parliamentary panel. IANS

Parliamentary panel expresses concern over delay in data protection bill

New Delhi: Commerce and Industry Minister Piyush Goyal said that high targets must be set in the India-Italy partnership as there is a lot of new potential especially in light of the recently elevated Strategic Partnership.

The Minister elaborated on how a plethora of opportunities in India make it one of the world's most trusted business and investment destinations during his address at the CEOs Business Interactive session in Rome, Italy. He said that India is an open country with global linkages with the trade negotiations underway with EU and EFTA.

The Minister said that India has witnessed 55 per cent growth in the overall exports in the last two years. He said that there are about 700 Italian companies operating in India and this is the most opportune time to be in India. The Minister also mentioned that India will provide a very robust and forward-looking policy framework with retrospective changes.

The Deputy Prime Minister and Minister of Foreign Affairs, Government of Italy, Antonio Tajani also participated in the interactive session and addressed the industry captains. Tajani expressed that there is a need to work together to create a better line of next generation in both the countries by backing MSMEs and industry.

Goyal appreciated Tajani for the deep engagement and said that there is a tremendous potential for growth in the India-Italy partnership and through this visit new ideas have emerged.

He said that the countries are connected by tradition, culture, shared values, rule of law and aspiration to achieve more and to work as one. He also expressed that India-Italy will grow together, achieve together, and conquer together.

The CEOs Business Interactive session was organised by the Embassy of India in Rome, Italy in association with the Confederation of Indian Industry (CII) and the General Confederation of Italian Industry (Confindustria). The session had participation from more than 70 CEOs from Indian and Italian companies.

The Italian business was represented by giants like Sparkle, Elettronica, Piaggio, Lamborghini, ITA, etc. The CEOs mentioned that India is an important economic player and it is time to step up the cooperation at both the government and industry level. They also mentioned that Italian companies are exploring various investment opportunities present in India.

Vice President CII and Chairman and Managing Director, ITC Limited, Sanjiv Puri, emphasised that signing of India-EU FTA could be a catalyst for further enhancing India-Italy relationship. IANS

High targets must be set in India-Italy partnership in light of new potential: Goyal

Do you love your language courses and truly feel interested in studying languages all your life even though you have an analytical brain? Do you belong to a rare group of youngsters who think grammar is not boring? Are you looking for a career that is beyond the horizon of the popular science, engineering and commerce careers? Do you really enjoy reading books for hours at a stretch? If the answers to all the above are an emphatic ‘yes’, then you may think of a career in Linguistics, a very important but not commonly pursued field with quite a few opportunities across diverse areas of occupations.

Linguists study the origin, evolution and development of languages to apply their knowledge in real-life and business situations such as the interpretation of historical documents, deciphering the encrypted or coded text, development of natural language processing computer software, and interpretation of written/spoken foreign languages. Linguist study to understand how people learn speech and languages, how do they use languages to communicate and how languages vary over cultures, communities, regions, and countries.


<h3>Why Become a Linguist?</h3>
You will study languages – how different languages originated, how they evolved over the ages, the different properties of speech and languages, and how they change and develop. You will apply your knowledge in various areas – from History and Anthropology to Sociology and Computer Science.&nbsp;&nbsp;

As a Linguist, you will research and study about the following areas and many other areas:

Phonetics – Phonetics is the study of the sound of human speech. It is concerned with the actual human sounds, and how they are produced and perceived.
Phonology – Phonology deals with how different sounds of speech are organized systematically to form and convey what one wants to say.
Syntax – Syntax deals with how words and phrases are arranged and structured using grammatical rules to form meaningful sentences.
Semantics – It deals with the study of semiotics which is the science of conveying meaning through signs, symbols, analogies and metaphors. It studies how meaning is conveyed in languages by use of words, signs and symbols.
Pragmatics – It is a part of semantics and involves the study of context or situation which influences the meaning of spoken and written languages.
Morphology – It studies how words are formed and their relationship to other words. For example, it examines the structure of words- the prefixes, suffixes, root words etc.
Discourse analysis – This involves the analysis of discourses in languages- written, spoken or sign languages.
Popular Specialization in Linguist Profession
Computational Linguists help develop various algorithms and software for natural language processing – such as speech recognition, speech-to-text, text-to-speech, speech synthesis, etc. They are involved in developing Artificial Intelligence in the processing of human languages.

You will study and research in your specialized area of Linguist to publish research papers on theories of Linguistic or applications of linguistics in different fields such as Cryptology, Natural Language Processing (an area of Computational Science), Human Development, etc.
You will work with Computer Scientists and Engineers to help them develop speech recognition software, text-to-speech software, algorithms for developing Artificial Intelligence in human language processing, and so on.
You will help government departments, defense forces, and business enterprises interpret foreign language; help intelligence agencies to decipher coded language; help police and investigative agencies in interpreting communication of alleged criminals to gather evidence.
You will Help Historians and Archaeologists in interpreting ancient languages; help Anthropologists in understanding a tribal language; help Development Workers to use appropriate languages to communicate with a community or tribe.


<h3>Undergraduate studies after school</h3>

To be a Linguist, after your school, you can study for an undergraduate degree in any Language or in Linguistics. In India, very few undergraduate degrees in Linguistics are available. But if possible, you can study in UK, USA, Australia and other countries. Many undergraduate programs in Linguistics or a dual degree program in a Language and Linguistics are available in Universities in these countries.

It may make better sense to complete an undergraduate or bachelor’s degree in a language, preferably in English or a Foreign Language or an ancient Language like Sanskrit and Pali. You can also study a modern Indian Language at the undergraduate level.

Alternatively, you can also study for an undergraduate degree in Physics, Biological Sciences (such as Physiology and Zoology), Mathematics, Computer Science, or Anthropology. Even, if you have a bachelor’s degree in Engineering/Medicine, you can switch to a career in linguistics after doing an M.A. and Ph.D. in a specialized area of linguistics.&nbsp;

<h3>Post Graduate Studies</h3>

As a career in Linguistics requires specialized and even super specialized knowledge, you must have a Post Graduate/Graduate Degree (as they call it in USA and Canada) in Linguistics/Applied Linguistics with a specialization in an area of your choice such as Computational Linguistics, Psycholinguistics, Phonetics &amp; Phonology, Clinical Linguistics, Developmental Linguistics, Sociolinguistics, etc.

You can do a Post Graduate Program in Linguistics after having an undergraduate or Bachelor’s degree in the areas mentioned under ‘undergraduate studies after school’.

Pre-Doctoral and Doctoral Studies:

Let’s put it straight. To have a really rewarding career in Linguistics, you will need a Ph.D. But in certain applied areas such as Computational Linguistic, Translation and Interpretation, etc. as well as in teaching, you can do with a Post Graduate/Graduate (as in USA, and Canada) degree. But the excitement in opportunities begins after your Ph.D. Before a Ph.D., you can do an M.Phil. as well.

<h3>Job Opportunities</h3>
Most of the job opportunities in this career are in academic research, in applied research or in teaching. You may also choose to be in translation/interpretation work. Following are some of the opportunities:

In Universities involved in theoretical or applied Linguistic research and teaching – you can join as a Research Fellow / Assistant Professor and grow into other positions
In Information Technology firms as a Language/Linguistic Specialist in the area of Computational Linguistics, Natural Language Processing, etc.
In colleges, language schools, and other institutions as a Language Teacher, Accent Trainer, etc.
In publishing companies in the role of a Sub-editor /Writer /Translator
In various companies as a Writer/Content Developer/Content Analyst/ContentWriter
In Business Process Management companies as a Language Coach/Trainer or as an Accent / Voice Trainer
You can take up various opportunities as an Interpreter and work with various companies, foreign consulates, Government departments, Government agencies, etc.
Find opportunities in Defense forces and intelligence forces.

<h3>Work environment</h3>
You will mostly work in academic and research settings – in Universities, Colleges, Language Schools or in similar settings in offices of Government, Defense forces, Police forces and business enterprises.
Some jobs may require you to travel occasionally to the field to help other professionals interpret foreign languages, help Defense/Police/Investigative agencies or for your own academic or applied research work.
Academic workplaces when you are in teaching such as Universities, Colleges and Language schools.
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<h3>Salary of a Linguist</h3>
During your Ph.D. in India, if you qualify in the UGC NET examination, you will get a stipend of Rs. 35,000 per month in the first 2 years and then Rs. 38,000 per month for the remaining years.
During your Post-Doctoral Fellowship, you may get about Rs. 40-45,000 per month.
In India, if you join a University or College as an Assistant Lecturer after your Post Graduate degree and clear UGC NET examination, you will earn about Rs. 60,000 a month.
If you join in a research position in an enterprise, including Government agencies, private sector companies, etc., then in the beginning, after your post-graduation, you may expect to earn about Rs. 40-45,000 a month in the beginning. If you join after your Ph.D. then you may earn about Rs. 60-80,000 per month.
As an Associate Professor or in an equivalent research position, you can earn about Rs. 100,000-1,80,000 a month.
Mid-level positions in the industry can fetch you about Rs. 1,20,000–2,50,000 or more per month.
As a Professor or in an equivalent research position, you can earn about Rs. 1,60, 000-2,25,000 a month.
Senior-level positions in the industry can fetch you about Rs. 1,80,000- 500,000 or more per month.
<h3>Career Progression in Linguist Profession</h3>
Most of the job opportunities in this career are in academic research, in applied research or in teaching. You may also choose to be in translation/interpretation work. Following are some of the opportunities:

In Universities, you can join as a Research Fellow and then after getting a Ph.D., join as a Post-Doctoral Fellow. In teaching roles, you start as an Assistant Professor, then become an Associate Professor, and finally a Professor.
In Information Technology firms you can join after your Master’s in domain specialist roles as an Analyst / Associate Analyst / similar. You will progress from a Senior Analyst to an Associate Consultant and become a Consultant. After your Ph.D. you can join as an Associate Consultant and grow through the ranks.
In colleges, language schools, and other institutions you can join as an Assistant Language Teacher, Accent Trainers, etc. and then grow into various senior roles such as Teacher, Senior Teacher, Teacher-in-Charge, Principal, etc.
In publishing companies, you can join as a Copy Editor and then become a Sub-editor. You can then grow as a Deputy Editor / Associate Editor and then become an Editor. You can also find work as a Writer / Translator.
You can join various companies as a Writer / Content Developer / Content Analyst / Content Writer and grow into senior-level roles.
In Business Process Management companies, you can grow from being a Language Coach/Trainer or as an Accent / Voice Trainer to Senior Trainer and then to Head of Voice/Accent Training or similar positions.
In Defense forces and intelligence forces.
<h3>ACCESS OUR FREE CAREER DASHBOARD</h3>
What does Industry Trends Say – Future Prospects
Linguists, and especially Computational linguists, find many opportunities in one of the most important and challenging areas in Computer Science and Engineering, i.e., NLP or Natural Language Processing. This is a certain area of growth as more and more regional and local languages will be used for access to the internet and using computers.

Computational Linguists will also find opportunities in developing artificial intelligence – speech recognition, learning, assimilation, and speech synthesis are some of the biggest challenges in creating artificial intelligence that can interact with humans like humans.

With increasing globalization, and more so over the next few years, Interpreters and Language Teachers will have many opportunities for work. But over the very long term period (10-20 years), the jobs of Interpreters may reduce as they could be replaced by artificial intelligence.

The overall prospect is moderate now and in the long term (5-10 years) and could remain moderate over 10-20 years period. Prospects for Computational Linguists will remain quite high though.

Do you love your language courses and truly feel interested in studying languages all your life even though you have an analytical brain?

Best choice of Career opportunities in Linguistics

New Delhi: The Enforcement Directorate (ED) on Thursday alleged that IAS Anil Tuteja, who is known for his proximity with Chhattisgarh Chief Minister, is the mastermind behind the Rs 2000 crore liquor scam.

"Anil Tuteja, Joint Secretary in Department of Industry and Commerce, was the mastermind of the syndicate and was managing the affairs of syndicate on account of his closeness to the Chief Minister," the central agency alleged.

Earlier in the day, the ED arrested two accused -- Nitesh Purohit and Pawan Dhillo alias Pawan Bansal.

The ED told a special PMLA court that the arrested accused Nitesh Purohit gave Rs 163 crore to IAS Anil Tuteja and Pappu Bansal, on the instructions of alleged kingpin Anwar Dhebar.

The collection of illegal funds in the form of cash was being carried out through a well established extortion network, it alleged. Being the head of the syndicate, Tuteja was passing on the final loot to the political executives for electioneering, after keeping his cut, which resulted in massive loss to the State Exchequer, loss of central government taxes and a great loss to the local business community, it claimed.

According to a ED source, investigations revealed that Anwar Dhebar, brother of the Mayor of Raipur, was the main collection agent and front man of the syndicate and ran the syndicate as per the instructions of Tuteja.

"A large-scale statewide criminal syndicate was operating in Chhattisgarh by collecting illegal bribes through high-level management of important state departments and state PSUs. That this syndicate consisted of and was being run with the connivance of high-level state government officials, private persons and political executives of the state government," the ED alleged.

The probe agency initiated the PMLA probe in the matter on the basis of the prosecution complaint filed by the Income Tax Department against IAS Anil Tuteja, Yash Tuteja, Anwar Dhebar and others. IANS

The Enforcement Directorate (ED) on Thursday alleged that IAS Anil Tuteja, who is known for his proximity with Chhattisgarh Chief Minister, is the mastermind behind the Rs 2000 crore liquor scam.

Chhattisgarh liquor scam: IAS Anil Tuteja mastermind, says ED

The Enforcement Directorate (ED) on Thursday alleged that IAS Anil Tuteja, who is known for his proximity with Chhattisgarh Chief Minister, is the mastermind behind the Rs 2000 crore liquor scam.


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