The Indian government is likely to demand more detailed information from social media companies such as YouTube and Telegram on the steps they have taken to curb pornographic and child sexual abuse material on their platforms. Both YouTube and Telegram have stated that they have a “zero tolerance” policy for such content, but the government is not satisfied with their responses. It has asked the companies to provide details of the proactive steps taken, including the use of automated tools to identify and remove abusive content.
Insurance marketplace InsuranceDekho has raised $60 million in its ongoing Series B funding round. The funding comes from Japanese financial services major Mitsubishi UFJ Financial Group, BNP Paribas Cardif, and Beams Fintech. This is InsuranceDekho’s second funding round this year, and it has seen a 50% jump in valuation. The company plans to use the funds for acquisitions, building new technology capabilities, brand-building, and market expansion.
According to Pawan Goenka, chairman of the Indian National Space Authorisation Centre (IN-SPACe), India’s space economy could see a five-fold growth in the next 10 years, reaching $44 billion. Currently, India holds a miniscule 2% share in the global space economy, but IN-SPACe aims to increase this to 8% by 2033. The objective is to elevate the domestic share to $33 billion and boost the export share to $11 billion over the next decade.
Wipro, the Bengaluru-based IT company, has announced that it will implement its annual merit salary increases (MSI) for employees starting from December 1. The implementation of these hikes was delayed due to macroeconomic challenges and margin pressures. This is in contrast to some other IT firms, such as Tata Consultancy Services, which implemented salary hikes earlier this year, and HCLTech, which deferred hikes for senior employees and other staff.
Ninjacart, the supply chain startup for fresh produce, has expanded its business over the past year to provide a marketplace for farmers and traders. The company aims to help them reach more buyers and avail of financial services. Ninjacart is focused on increasing its revenue and aims to achieve more than Rs 2,500 crore in FY24. The majority of its revenue currently comes from its “legacy” fulfillment business. The company plans to scale up its network of field agents and aims to have 2 lakh agents by the end of FY2024.
