US Tech Giants Challenge India’s Licensing Rules
Apple and Intel, two of the US’s tech behemoths, have raised concerns over India’s new licensing regulations on tech imports, such as laptops. They argue that these rules could not only disrupt their operations but also have a ripple effect on the tech industry in India. The regulations, which are seen as a move to boost domestic manufacturing, have been met with resistance from several international firms operating in the country, Bloomberg reported.
Government’s Move To Stabilize Onion Prices
With domestic onion prices soaring, the Indian government has taken a decisive step by imposing a 40% export duty on onions. This move, effective until December 31, is aimed at ensuring that there’s an adequate supply for the domestic market and to prevent any further price hikes that could burden consumers.
Jio Makes A Move In The Streaming Wars
Reliance Jio, India’s top telecom operator, has launched a new prepaid plan that comes with a free Netflix subscription. This is seen as Jio’s strategy to further entrench its position in the market and provide more value to its vast user base, especially when streaming services are gaining immense popularity in India.
Unity In The Murugappa Family
The prominent Murugappa business family has come together to resolve a longstanding internal dispute that arose following the demise of M V Murugappan. In a significant move towards maintaining family harmony and unity, they have chosen to withdraw all related legal proceedings, signaling a fresh start for the family’s business interests. Murugappa Group descendant Valli Arunachalam had moved the National Company Law Appellate Tribunal (NCLAT) alleging oppression and seeking representation in the holding company Ambadi Investments.
ONGC Videsh Expands Horizons
ONGC Videsh, a subsidiary of India’s state-owned Oil and Natural Gas Corporation, has secured a three-year extension for exploration in the South China Sea. This is a significant development, considering the geopolitical importance and energy potential of the region. The extension allows India to further its energy interests and strengthen its presence in the area, Reuters reported.
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