Morning News from India - July 27, 2018 Tweet27 Jul 2018
- Sensex surges 350 points, Nifty tops 11,250 led by ITC, RIL, ICICI Bank (Livemint)
- Why Indian companies fear data storage norms (Livemint)
“The government has every right to mandate the storage of its own sensitive data in India. However, the government should have incentives for companies to store data in India instead of making it mandatory. If my business runs more efficiently by storing data elsewhere, you are increasing my costs by asking me to store locally. This makes little sense given the current Indian economic environment. When it comes to data, our priority should be control, not location”
- Television remains the choice of the masses even in digital times (Economic Times)
- Data localisation and the danger of a ‘splinternet’ (Factor Daily)
- Spotfiy earnings - Update on INdia launch (Seeking Alpha)
Then to address specifically your question in regards to India, I think the truth of the matter is when you deal with licensing and in our case not just one company, but you deal with local publishers, local record companies, global record companies, global publishers, it is you know, always a complicated maneuver and as much as I would like to see that we can accurately and timely estimate on the day when we’re going to launch a market.
There is always local considerations that gets added. This has been true not just in India, but it has been true I think pretty much every market that we’ve ever entered into as well.
So delays unfortunately when it comes to licensing for various reasons is just you know commonplace in this industry and nothing related to our overall strategy.
Walmart plans to create 30,000 jobs in Uttar Pradesh (Times Of India)
- HCL Tech displaces Wipro as India’s third largest IT firm (Livemint) - WIT, INFY
- Dr Reddy’s Q1 profit jumps 8 times YoY to Rs 456 crore, beats Street estimates (Economic Times)
Q1 Results: ICICI Bank Reports Its First Net Loss Since 2001 (Bloomberg Quint) - IBN
- Paytm’s Japan expedition: Launches QR code payments service with PayPay (Entrackr)