Todays Top Headlines: India's 5G spread, Prosus-BillDesk M&A deal, and more

Global telecom gearmaker Ericsson's senior vice-president Nunzio Mirtillo believes that India will see one of the fastest 5G adoptions in the world. The biggest M&A deal in the Indian fintech space has been called off. Naspers-owned Prosus has terminated the $4.7-billion deal to acquire India’s leading payments aggregator BillDesk. Read more on these in our top headlines.

5G spread in India to be among fastest in the world: Ericsson's Mirtillo

Global telecom gearmaker Ericsson believes that India will see one of the fastest 5G adoptions in the world. Nunzio Mirtillo, senior vice-president and head of market area Southeast Asia, Oceania & India, Ericsson said: “5G adoption in India will be faster than anywhere else in the world. The willingness of Indians to adopt new technology is second to none. It happened with 4G, which led to huge increases in mobile and net-banking transactions...” Read more
 

Naspers-owned Prosus calls off India's largest fintech M&A deal

The biggest M&A (merger & acquisition) deal in the Indian fintech space has been called off. Naspers-owned Prosus has terminated the $4.7-billion deal to acquire India’s leading payments aggregator BillDesk. The deal between PayU, the India business of Prosus, and BillDesk was announced on August 31, 2021, and got approval from the Competition Commission of India (CCI) on September 5, 2022. Read more
 

Taxes absorb 58% telco revenues in nation with lowest tariff: Voda-Idea CEO

Apart from having one of the highest incidences of visible levies in the world, Indian telcos have a large hidden cost, which results in 58 per cent of their revenues becoming liable for government taxes, Vodafone Idea chief executive officer (CEO) Akshaya Moondra has said. Arguing that the industry needs to quickly make massive capital investments for migration of technology, he said the burden on the sector must be reduced fast. Read more
 

Indian airlines revamp their in-flight menus amid intense competition

From croissants to Galouti kebabs and Medu vada, Indian carriers, both low-cost and full-service, are revising their in-flight menus to offer passengers a differentiated fare as competition is heating up amid the boom in air travel with the waning of Covid-19. On Monday, Air India unveiled its new domestic in-flight menu comprising gourmet meals, new appetizers, desserts, and local dishes. Read more
 

India's exports dip by 3.52% to $32.62 bn in September: Govt data

India’s merchandise exports contracted 3.5 per cent in September amid shrinking demand for Indian goods due to recession fear in advanced economies. Data released by the commerce ministry on Monday showed exports dipped to $33.6 billion in September from $33.8 billion during the same month a year ago.  Read more