Indian cricketer Hardik Pandya invests in food startup Yu Foodlabs and becomes its brand ambassador

• Indian cricketer Hardik Pandya has invested in direct-to-consumer (D2C) food startup Yu Foodlabs and joined the company as its brand ambassador.
• Yu specializes in ready-to-eat meals and plans to launch 8-10 new products in the next year.
• The startup has partnered with airlines such as SpiceJet and Akasa Air to provide instant meals to customers.
• Yu's revenue has doubled in the past six months, with 40% from online sources, 10% from exports, and the remaining 50% divided between offline and online platforms.

LVMH, the French luxury goods company, has entered into the world's top 10 companies list

• LVMH, the French luxury goods company, has entered into the world's top 10 companies by market capitalization following a first-quarter sales beat, causing a 5% rise in share prices on Thursday.
• This pushed the company's market capitalization to $486 billion, ranking it as the 10th-biggest company globally. Should it achieve a value of $500 billion, LVMH would become the first European company to achieve this milestone.
• The company's success can be attributed to a 29% rally for the year, along with a gain in the euro against the dollar.

Apple triples iPhone production in India, making the country a crucial player in the global smartphone industry

• Apple has tripled its iPhone production in India and assembled over $7 billion worth of iPhones in the last fiscal year, according to a Bloomberg report.
• The move has made India a key player in the global smartphone industry and highlights Apple's efforts to reduce its dependence on China.
• The company's long-time partners, such as Foxconn and Pegatron, have expanded their assembly lines in India, leading to a significant increase in iPhone manufacturing in the country.
• Indian Prime Minister Narendra Modi's incentives for local manufacturing have further encouraged Apple to increase production in India.

Amazon enters the generative AI race by introducing Amazon Bedrock

• Amazon has unveiled a cloud service named Bedrock that will allow developers to enhance their software with AI systems to generate text, similar to ChatGPT chatbot.
• The Bedrock generative AI service from Amazon Web Services will provide access to Amazon's first-party language models called Titan, language models from startups AI21 and Anthropic, and a model for transforming text into images from Stability AI.
• The Titan model can be used for generating text for blogs, emails, and other documents, while the other model can help with search and personalization.

India on track to become $7 trillion economy by 2030: Deutsche Bank report

• India is set to double its economy in seven years, becoming a $7tn economy by 2030, driven by financialisation, clean energy, and digital revolution, as per a Deutsche Bank report.
• India has had the second-fastest economic growth rate among major countries at 7.5% per annum over the last two decades, with demographic dividend and domestic consumption being primary growth drivers.
• However, other growth drivers will be necessary for India to achieve this ambitious goal. The report also states that India will account for 22% of the world's total workforce in the next decade.

Indian government building ChatGPT-like chatbot helpline to tackle consumer grievances.

• The Indian government is reportedly creating a ChatGPT-like chatbot helpline to address consumer grievances.
• The chatbot aims to enable audio messaging and support multiple Indian languages for a conversational experience.
• The new chatbot will be separate from an existing helpline launched last month, which does not allow for a conversational experience but asks users to select options in a step-by-step manner. This initiative will likely streamline the consumer complaint process in India.

Bengaluru startup SoulUp aims to build a LinkedIn-like network for mental health

• SoulUp, a Bengaluru-based startup founded in 2022 by two IIT alumnae, aims to build a LinkedIn-like network for mental health that provides peer conversations to promote mental wellness.
• The platform offers video calls with verified peers who have been in similar situations, covering various topics from diagnosed mental illness to relationships and career growth.
• Users can connect with peers and have 45-minute-long conversations priced between ₹199-399. SoulUp recently won a ₹50 lakh investment on Shark Tank India and is taking a unique approach to mental health, using peer conversations as the core.

Singapore's Temasek acquires an additional 41% stake in India's Manipal Health Enterprises raising its stake to 59%

• Singapore's Temasek is set to acquire an additional 41% stake in India's Manipal Health Enterprises from investors, including TPG, thereby increasing its stake in one of India's largest hospital chains to 59%.
• Additionally, India's sovereign wealth fund, the National Investment and Infrastructure Fund (NIIF), will also sell its full stake to Temasek, while Manipal founder Ranjan Pai's family holding will reduce from about 50% to 30%.
• Manipal currently serves over 5 million patients a year through its 29 hospitals in 16 cities with 4,000 doctors, according to a joint statement issued by the investors.

Fantasy sports platforms in India to see a rise of 30-35% in gross gaming revenue, amounting to Rs 2,900 to 3,100 crore this year

• According to a report by Redseer Strategy Consultants, fantasy sports platforms in India are projected to experience a significant boost in revenue during the ongoing Indian Premier League (IPL) 2023 edition.
• The report predicts a rise of 30-35% in gross gaming revenue, amounting to Rs 2,900 to 3,100 crore, with a 25-30% growth in transacting users during this IPL season.
• The surge in user confidence is driven by increasing adoption of fantasy platforms and cross-migration of users from other games, particularly in Tier-2 cities and beyond. To encourage higher spending, platforms are offering lucrative prizes.

Imarticus Learning acquires Hero Mindmine to strengthen its position in the edtech market

• Imarticus Learning, the Mumbai-based edtech company, has acquired Hero Mindmine, a Hero Group platform that provides learning solutions and training for individuals.
• Following the acquisition, Imarticus Learning will operate as an end-to-end sales excellence academy, offering sales onboarding, custom training, leadership programs, and coaching, as well as game-based learning content development services.
• This marks Imarticus's third acquisition after Skillenza and StartOnboard, and the company is looking to acquire more valuable assets to bolster its portfolio.

 

Elon Musk removes 'w' from the Twitter name at headquarters in San Francisco

• Elon Musk has removed the letter 'w' from the name of the Twitter headquarters in San Francisco.
• Musk had previously run a Twitter poll in April 2022 asking if the 'w' in Twitter should be deleted, which hinted at his intention to rename the platform.
• While some people criticized the move as 'childish,' others speculated about what the new name could be.

AI could lead to the end of human life on Earth, warns researcher

• AI researcher warns of the potentially catastrophic impact of uncontrolled AI development on human life.
• Eliezer Yudkowsky, an AI researcher at the Machine Intelligence Research Institute, has cautioned that the development of superhuman AI could result in the extinction of all human life on Earth.
• The most probable outcome would be the creation of an AI that does not care for us or life in general.
• Although AI is evolving at an exponential rate, there are serious concerns about its negative consequences, including misinformation, data privacy issues, and security risks.

Mangoes on EMI: Pune trader offers sweet relief for high prices!

 

• A trader in Pune is offering the popular Alphonso mangoes on EMI, with a minimum purchase of Rs. 5,000, as prices for the fruit have skyrocketed.
• Gaurav Sanas of Gurukripa Traders and Fruit Products suggested that if refrigerators and air-conditioners can be purchased in installments, then mangoes can be too.
• Customers can use their credit cards to make the purchase, which will then be converted into EMIs of three, six, or twelve months, similar to buying mobile phones in installments.

Reliance's AJIO to launch zero-commission marketplace “Ajio Street” for low-cost fashion items

• Reliance's online fashion retail platform, AJIO, is launching a new marketplace named “Ajio Street” for low-cost fashion items with a zero-commission model.
• The new marketplace, Ajio Street, will focus primarily on non-metro consumers in Tier II and IV cities and towns, promising merchants a 15-day payment settlement.
• The aim is to expand AJIO's user base with a new set of consumers from these markets who may not frequently shop online, as sellers will not have to pay a platform commission in this model.

Apple leads job creation in India's electronics sector with 1.5 lakh jobs created

• Apple has emerged as the top job creator in India's electronics sector, with nearly 1.5 lakh direct and indirect jobs created by its contract manufacturers and component suppliers.
• This comes after the Centre's production-linked incentive scheme was announced in August 2021.
• Foxconn, Wistron, and Pegatron, the three primary contract manufacturers for Apple's iPhones in India, are responsible for around 60% of the new jobs created.

Instagram made $660M in a single day by selling 44 million blue verification checks

• Instagram has earned $660 million in a single day by selling 44 million blue verification checks for $15 each.
• The number of checks being sold is expected to increase in the coming days as the blue checks become more popular.
• The blue verification badge confirms an account is genuine and offers benefits like increased security checks and access to live support.
• The verification service is available only to users over 18 and will not be offered to businesses as of now. Accounts verified under previous requirements will remain unaffected.

Reliance Retail introduces Tira, an omni-channel beauty platform

• Reliance Retail has launched an omni-channel beauty retail platform called Tira, offering a seamless and personalised shopping experience to beauty enthusiasts across India.
• Tira offers a curated assortment of global and local beauty brands, with an app and website as well as a flagship store in Mumbai's Jio World Drive.
• Tira's online platform offers shoppable videos, blogs, tutorials, personal recommendations, trend-setting tips and virtual try-on features.
• The Tira offline store has beauty tech tools such as a virtual try-on and skin analyser to help consumers make purchasing decisions based on their needs.

Google plans to integrate conversational AI into its search engine

• Google's CEO, Sundar Pichai, has revealed plans to incorporate conversational AI into its main search engine, which is facing increasing competition since Microsoft integrated ChatGPT-like technology into its search engine Bing.
• The move by Microsoft is posing a challenge to Google's core business, with Bing users now engaging in extended conversations with the language model.
• This poses a significant problem for Google as search ads are its primary source of revenue, generating $162 billion last year.

Mukesh Ambani reclaims spot as Asia's richest person

• Forbes Billionaire 2023 list reveals that Mukesh Ambani has reclaimed his position as Asia's richest person.
• Mukesh Ambani has a net worth of USD 83.4 billion and is ranked at No. 9 on the world billionaire list.
• Rival Gautam Adani has tumbled to No. 24 on the list with a net worth of USD 47.2 billion after a report by US short-seller Hindenburg Research sent his company shares plummeting, despite being the world's third-richest person on January 24.

Apple CEO Tim Cook is expected to visit India this month

• Apple CEO Tim Cook is expected to visit India to launch the first-ever company-owned store in the country.
• The store is located in Mumbai’s BKC and has a unique facade inspired by kaali-peeli taxi art.
• Apple is looking to increase its market presence in India. The launch of the company-owned store is expected to expand Apple's retail footprint in India.
• There are also chances that Cook might meet Prime Minister Narendra Modi during his visit to India.

Zerodha's co-founders Nithin and Nikhil Kamath join Forbes World's Billionaires List

• Zerodha co-founders Nithin Kamath and Nikhil Kamath have been included in Forbes World's Billionaires List 2023. 
• Nithin Kamath, CEO of India's largest stockbroking firm, is ranked 1104 with a net worth of $2.7 billion, while Nikhil Kamath, CFO of Zerodha and owner of True Beacon, is ranked 2405 with a net worth of $1.1 billion. 
• The discount brokerage company, which was founded in 2010, has disrupted India's traditional brokerage sector by offering low-cost, user-friendly trading platforms and is now one of the country's biggest brokerages based on "active retail clients".

Stand Up India Scheme sanctions over Rs 40,000 crore to 1.8 lakh accounts in 7 years

• The Indian government's Stand Up India Scheme has sanctioned over Rs 40,710 crore to more than 0.18 million accounts in the last seven years since its inception. 
• The loans have been mostly given to women entrepreneurs, accounting for about 80% of the total. 
• The scheme was launched in 2016 to promote entrepreneurship among women, Scheduled Castes (SC) and Scheduled Tribes (ST) communities and has been extended until 2025.

Apple's patent application hints at an upgraded, interactive AirPods case with a display and touchscreen

Image Source: macrumors.co

• Apple's latest patent application indicates the company is exploring a more interactive version of its AirPods case with a built-in display and touchscreen. 
• This upgraded accessory could display useful information such as track info and incoming calls and potentially allow users to access more complex commands with gestures. 
• It's unclear when or if Apple plans to release this new version of the AirPods case, but it's a sign that the tech giant is continuously innovating and improving its products.

From Rickshaw Puller to Entrepreneur: Meet Dilkhush Kumar, Founder of RodBez Worth Crores!

• Dilkhush Kumar, a former rickshaw-puller and vegetable vendor from Saharsa district in Bihar, has established a successful start-up, RodBez, which is now valued at crores. 
• Unlike Uber and Ola, RodBez is unique. It offers one-way taxi, taxi pool, and carpool services, with a rural touch to its operations. 
• The company has hired graduates from prestigious institutions such as IIT Guwahati, and some IIM students have also joined on a part-time basis.

Twitter's Bluebird Flies Again: Elon Musk Reverts Dogecoin Logo, DOGE Value Drops!

• Elon Musk changed the Twitter bird logo back to the original blue bird after replacing it with Dogecoin's logo just a few days ago. 
• The famous blue Twitter is back again on the platform. 
• Following a massive surge in interest and a 30% increase in value, Dogecoin (DOGE) plunged 9% after Twitter reverted to its iconic bluebird logo, replacing the Doge meme that was swapped in by Elon Musk earlier this week.