ECOMMERCE SAFETY PLEDGE
New-age cos deliver; AI Summit sparks capital push
Happy Tuesday! New-age tech firms reported strong December quarter results. This and more in today’s ETtech Morning Dispatch.
10-minute delivery: What if quick commerce isn’t that quick anymore?
India's quick commerce sector has reached a turning point as the Labour Minister urged platforms like Blinkit and Zepto to remove their "10-minute delivery" promise. This move, driven by concerns over rider safety and working conditions, signals a shift towards sustainable practices.
Govt asks quick commerce platforms to drop '10-minute delivery' branding
The labour minister has asked quick commerce firms to stop advertising 10-minute deliveries, citing worker safety. Platforms have agreed to drop the branding, though operations will continue largely unchanged. The move follows gig-worker strikes and wider concerns that ultra-fast promises create pressure, despite the sector’s rapid growth in Indian cities nationwide.
Amazon's $35 billion India top-up; Meesho investors hit jackpot
Amazon is doubling down on its long-term plans in India. This and more in today's ETtech Top 5.
‘Hold’ a good business & wealth creation will happen: 16 large & mid-cap stocks for investors with an ability to ignore noise
Last week, although the Nifty touched an all-time high, there was considerable turbulence. And the broader market is not in alignment with the Nifty, as evidenced by the fact that most portfolios are not as high as they were when the Nifty last peaked in September 2024. Now, while the markets are about buying and selling, it is at junctures like this that the third option should come into play: Just hold. Yes, there are times when wealth creation happens by hanging on to quality stocks. And by ignoring what is happening to the Nifty and Sensex.
How real money gaming addiction dragged thousands of people into debt crisis
The Central government’s recent ban on RMGs seeks to slam shut a digital Pandora’s box, but for thousands of debt-ridden families, the damage is done. Behind the colourful interfaces, dopamine-triggering sound effects, and promises of easy money lies a carefully engineered system designed to keep players betting until they lose all.
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Action will be taken against e-commerce entities using dark patterns: Consumer Affairs Secy
The Central Government is taking strict action against e-commerce companies using deceptive tactics. Consumer Affairs Secretary Nidhi Khare warns against unfair trade practices like hiding negative reviews. E-commerce entities are advised to conduct self-audits and avoid dark patterns. The department has issued guidelines and notices for violations. Strict action, including raids, will be taken against violators.
Govt launches AI-enabled helpline, ecommerce safety measures to boost consumer protection
Leading platforms, including Reliance Retail, Tata Sons and Zomato adopted a safety pledge as the government rolled out new consumer protection measures like AI-enabled National Consumer Helpline (NCH) , e-maap portal and Jago Grahak Jago mobile application.
Govt launches AI tools, ecommerce safety measures to boost consumer protection
Pralhad Joshi introduced new consumer protection measures, including an AI-enabled helpline and tools to detect deceptive practices. Major ecommerce players, like Reliance Retail and Tata Sons, pledged to enhance online shopping safety. Joshi noted significant progress in resolving consumer disputes. The government is also drafting new guidelines to regulate surrogate advertising.
Zomato, Ajio & Ola to adopt Safety Pledge to protect online consumers on December 24
Major e-commerce platforms like Zomato, Ajio, and Ola are pledging to enhance online shopper safety. This voluntary commitment, announced on National Consumer Day, aims to curb the sale of unsafe products. The initiative addresses the growing e-commerce market and requires platforms to cooperate with authorities and educate sellers on product safety.
Meta struggles to curb hate speech before US vote: researchers
Non-profit Global Witness tested how Facebook was dealing with hate speech ahead of the presidential vote by analyzing 200,000 comments on the pages of 67 US Senate candidates between September 6 and October 6.
Consumer Ministry readies safety pledge for ecommerce sites
Ecommerce companies will need to recall hazardous items within 36 hours of notification as part of a new safety pledge being drafted by the government. They must also assist officials in identifying sellers of unsafe goods. A committee, including various stakeholders, is expected to submit its report in two weeks.
Hunt on for mule bank accounts; Tata Digital pause on funding
The government is working with the central bank to catch mule accounts in India’s banking system and prevent fraud. This and more in today’s ETtech Morning Dispatch.
Amazon admits to safety lapses, assures Govt of corrective action
Amazon India has acknowledged lapses in workplace safety at its warehouse in the National Capital Region. In its communication to the central labour commissioner, the company admitted to breaching workplace safety standards on May 16, 2024, at its Manesar warehouse and committed to taking immediate corrective measures. Responding comprehensively to the central labour ministry's inquiry, as reported by ET, Amazon India clarified that one of the employees at the facility led a small group of employees and associates in a pledge following scheduled breaks, perceiving it as a motivational activity for the team.
2023: AI becomes hashtag, goes mainstream; India sets guardrails for data privacy, user safety
From excitement and awe around Artificial Intelligence (AI) to the virality of OpenAI's ChatGPT and India's crackdown on deepfakes to New Delhi's determined moves on digital sovereignty, dramatic twists and turns in the tech landscape defined an eventful 2023.
Satya Nadella brings Sam Altman to Microsoft; Twitch’s Emmett Shear is OpenAI’s new interim chief
After unsuccessfully pushing for the reinstatement of Sam Altman as OpenAI CEO, Satya Nadella roped him in to lead Microsoft’s new advanced artificial intelligence (AI) research team.
Responsible innovation, reskilling needed as tech companies embrace generative AI: industry experts
Companies are betting big on Gen AI. HCL and Wipro announced Gen AI labs, with Wipro pledging $1 billion for developing AI solutions.
CM pledges to fix water woes as rainfall batters Bengaluru’s tech suburbs
Chief minister Basavaraj Bommai assured distressed residents of speedy action to solve infrastructural issues related to the downpour in the city, which accounts for about a third of India's software exports of $170 billion, even as many feared a repeat of the flash floods as the state capital reeled from heavy rainfall again on Tuesday night.
India’s EV battery race is led by a newbie scooter maker
Ola Electric Mobility Pvt., a Bengaluru-based startup, will get state support to manufacture EV batteries that can store a total of 20 gigawatt-hours of power, the government said on March 24. Reliance Industries Ltd., the country’s largest conglomerate, will get subsidies for five gigawatt-hours.
End of a ‘Gilded Age’: China is bringing business to heel
Under Xi, China is reshaping how business works and limiting executives’ power. Long in coming but rapid in execution, the policies are driven by a desire for state control and self-reliance as well as concerns about debt, inequality and influence by foreign countries, including the United States.
Message in a battle
In today's ETtech Morning Dispatch: Companies cut brand promotions in second Covid wave; Info Edge to offload Zomato shares; and Amazon to airlift 100 ventilators to India.
China's 'vaccine diplomacy': A global charm offensive
The strategy carries multiple possible benefits: deflecting anger and criticism over China's early handling of the pandemic, raising the profile of its biotech firms, and both strengthening and extending influence in Asia and beyond.
How some of India's top CEOs faced the pandemic and what they learnt from it
India’s CEOs are navigating their businesses through an unprecedented disruption. ET Magazine asks them how they have adapted and what they have learned.
Internet blackout, protests leave gig workers reeling
Food delivery agents earn between Rs 25,000 and Rs 50,000 a month, depending on the number of orders they complete, hours on the road, and distance covered, among other factors. Cab drivers can earn Rs 35,000 to Rs 80,000 a month, a chunk of which goes towards fuel, loans, and vehicle maintenance
FSSAI wants calorie count on restaurant menu to promote healthy habits
The authority has also asked e-commerce and retail companies to promote healthy options such as fortified foods on their landing pages and checkout counters.
CSR gets innovative with street plays for truck drivers, stock exchange bells for women
India is among the few countries to have a law requiring a large number of companies to mandatorily spend a portion of their profits on CSR (corporate social responsibility) activities.
It is business as usual for Chinese expats in India
Last week, the Chinese embassy in India issued an advisory to Chinese citizens in India and those planning to travel to India to improve personal safety and avoid unnecessary visits.
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