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Paytm says it’s time to support Data Sovereignty



Paytm says it's time to support Data Sovereignty

Paytm has written a letter to the Internet and Mobile Association of India stating that the government’s data localisation plan will be useful for the Indian startup ecosystem and industry should support it.

Paytm mentioned in the letter addressing the top executives of IAMAI and the Payments Council of India that, “This is the moment for us to support our nation and promote ‘Data Sovereignty’ over ‘Data Monopolisation,’ which is possible through data localisation.”

IAMAI is not approving some of the provisions of the draft data protection bill, Paytm replied that the industry body’s views are appeared to be different from the interests of Indian startups.

Paytm has a letter by keeping in mind the meeting organized by the IAMAI last month waiting for the industries response about the draft personal data protection bill. The firm is supported by the investor Alibaba regarding the issue, with Alibaba stating that it supports India’s decision on data localization.

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Subho Roy, who is the president of IAMAI said in its social media post that, “the creation of an additional and complex regulator in the form of Data Protection Authority with ill-defined mandate will make things much more difficult for Indian tech startups.”

Paytm said that the nation requires solid consumer data protection framework which respects the privacy concerns of citizens including a perfect structure for the Indian startup ecosystem with respect to the global tech giants.

Paytm has also recommended that all the payments in India should be made as per rules. The firm mentioned in letter, “As India’s largest payments company, we strongly believe that financial data of Indians must be considered as ‘Critical Personal Data’ which should be stored and processed only in India.”

BN Srikrishna Committee wants to help frame a data protection policy has indicated that several types of data to be considered under critical personal data and should be stored in India only. But until now, the committee hasn’t declared what kind of data can be included in this category.

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The committee’s suggestion including the Reserve Bank of India’s data localisation strategy has resulted into a spammer in the payment industry, by dividing it into two camps.

Presently, Indian players such as Paytm and PhonePe are supporting data localisation, but tech giants such as Google, Amazon, and others are wanting free flow of data across the world.


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IT Industry

Indian IT Industry revenue will reach $167 billion in financial year 2018-19




Indian IT Industry revenue will reach $167 billion in financial year 2018-19

Indian IT Industry holds a 37% share in the global outsourcing market, hence the revenue of the Industry will reach $167 billion for the financial year 2019, said its apex body Nascomm on Oct 4.

Nasscom Vice Chairman Keshav R. Murugesh said in its strategic summit that, “The Indian IT and Business Process Management industry revenue, including exports, is set to growth nearly 8 percent annually to $167 billion for 2018-19 from $154 billion in fiscal 2017-18.”

By keeping in mind that the industry is capitalizing on newer technologies and re-skilling, Murugesh stated that the back office segment has the largest back office in the world, generating $32.5 billion revenue with 1.2 million employees across the country.

“The aim is on intelligent operations — process and domain expertise including digital technology. Digital is the key area for clients and service providers while companies eye strategic acquisitions,” said Murugesh.

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As digital technologies are helping to transform the businesses, the industry is renovating to come forth as the hub of the digital solutions. Upskilling of digital, obtaining abilities via mergers and acquisitions or partnerships, developing platforms and products and utilizing centers of excellence in new technologies are essential priorities of the firms.

The summit also emphasized how businesses are taking benefits of arising technologies such as process automation, artificial intelligence, digital communications, internet of things, and cognitive computing to increase profitability, cooperation, and competitiveness.

Murugesh added, “The major row over data privacy needs to be addressed and compliance with the European Union’s General Data Protection Regulation is a regulatory requirement.”

Acceptance of technologies such as Blockchain and AI have helped to improve security, speed and operational efficiencies in various projects.

He further said, “The essential requisite for any firm is to understand how digital technology from chatbots to analytics can provide a real-time picture of customer interactions and provide customer satisfaction. The rise of RPA has also brought a host of opportunities to both organizations and individuals.”

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There are more than 17,000 firms in the country, the industry provides a lot of services, having gained skills and abilities to provide services as per the needs of the customer.

In the last 2-3 years, firms have invested in developing abilities around the new technologies, and have built labs to provide digital services to the customers.


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IT Industry

Alibaba planning to bring its new retail concept in India




Alibaba planning to bring its new retail concept in India

Alibaba is constantly making efforts to expand its cloud business in India, having started its second data centre in the country last week. Also, it is planning to work with players in the retail space to bring its popular ‘new retail’ concept to India. It is also planning to bring the latest technology such as Augmented Reality.

Alibaba Cloud has until now teamed up DLF shopping malls, but it is said to be in talks with various other outlets in India. Vivek Gupta, who is the head of business development for India and Saarc at Alibaba Cloud said, “Retail has been a big focus for us in India.”

He further said, “We are talking to almost every single retail brand in the country. We want to partner with them in their omni-channel journey, as well as strengthen supply chain, offer intelligence on business operations, and enhance customer experience.”

Alibaba’s ‘new retail’ concept developed by the founder Jack Ma, consists of a subjective experience for a customer in a physical store, customer analytics for offline stores to offer matching products, and incorporating online experience at offline stores via customization and deliveries.

“We think these products will meet the needs of the retail industry in the region who are looking to digitize their operations,” Gupta said.

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As per details by a person, augmented reality (AR) is not something due to which Alibaba is planning to bring the retail space in India. Alibaba has released Taobao Buy as an AR experience for shoppers 2 years back.

“In China, Alibaba owns malls, stores as well as online platforms, and we can bring our experience here,” he said.

Other Stakes

Gupta doesn’t mentioned anything about the futuristic plans of AR. He also doesn’t said anything about Alibaba’s Cloud’s Partnership with Paytm Mall. Alibaba is basically an investor in Paytm Mall and its parent company One97 Communications.

Alibaba has also teamed up with Paytm to release the Paytm AI cloud. “Paytm is a key partner in India. We will be the technology enabler in terms of enabling the Paytm AI Cloud” Gupta stated.

Besides retail, Alibaba Cloud wants to target other sectors in the country for adoption. Lastly, Gupta said, “Internet-enabled business around ecommerce, gaming are big business for us. We have seen strong adoption in media and entertainment, as well as in the manufacturing industry.”

Also Read: Walmart Foundation to invest Rs 180 crore to improve farmers’ livelihood

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IT Industry

HP plans entry of refurbished computers market in India




HP plans entry of refurbished computers market in India

HP Inc. is probing entry into the refurbished market for personal computers in India as a part of its effort to make affordable products.

Refurbished products are mainly second-hand computer which is repaired to be resold or the products which are made by reusing and recycling various components of various computers.

Sumeer Chandra, MD of HP Inc. India said, “One of the big pillars we are focusing on affordability in India. We know in India we have to give the price value proposition. We are looking at is the refurbished market in India. It is a large market and it is largely unorganized.”

HP is putting great efforts to provide affordable products in India. Lately, the firm released mid-desktops starting at a price range of Rs 19990 for students and educational institutions.

He further added, “We are looking at it and seeing if there is a way we can participate in the market, either by providing our own refurbished product or come up with an alternate product that would compete with the refurbished product.”

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Presently, India has seen a sudden growth in adoption of smartphone with over 350 million users, but PC adoption is still too low. In 2017, less than 10 million PCs were sold in the country. Now, firms are expecting to have 2x more sales.

Chandra hopes that the refurbished market will offer HP an entry into a price concerned segment of the population that has used a smartphone but never used a computer. It will depend on its broad network of support centers in India to repair and resell used PCs.

Chandra also said, “We do believe that if we can provide a quality solution then we can see more customers walk into that, their willingness to try will be much higher and help drive better adoption. It will help acquire new customers, bring in first-time buyers and over time they will buy a new computer.”

As per IDC, HP Inc. has a market share of 32% in PC segment in India as of June 30, 2018. HP’s main purpose is to target first-time-buyers like college students and customers belonging to Tier-II & Tier-III Cities. If more customers will buy computers, then it will also speed up the future of broadband connectivity.

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He stated, “It is a sizeable market. We just started to look at it. For informal players there are decent margins. It is an important market because it is serving a market we are not able to serve – providing products at a lower cost.”

He further said that the discussions are at an early stage and he didn’t have a detailed strategy plan or business models to share publicly.

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