China’s Huawei Tech seeks access to India’s ‘Trusted Telecom Portal’ and e-commerce firms in India face sharper scrutiny. Top headlines this morning.
Govt plans stiff compliance, flash sale ban in draft norms for e-commerce firms
The Centre is planning guidelines for e-commerce companies, including appointment of a chief compliance officer, giving preference to the sale of locally produced goods, mandatory registration of e-tailers with Department for Promotion of Industry and Internal Trade (DPIIT), in an attempt to tighten the regulatory regime and make these companies more accountable.
The amendments have been proposed under the Consumer Protection (E-Commerce) Rules, 2020 ‘to protect the interests of consumers and encourage free and fair competition in the market’, the consumer affairs ministry said on Monday. Read more.
Airtel announces partnership with Tata group for 5G network solutions
Bharti Airtel on Monday announced a strategic partnership with the steel-to-software conglomerate Tata group for 5G network solutions.
It will be based on open radio access network (ORAN) technology, the plan is to roll out the solution initially for India and subsequently for exports. The plan is seen as an ambitious move than Airtel’s original plan of collaborating with hardware and software players to build a 5G network at the lowest price. Read more
RBI likely to not raise funds through bonds
The Reserve Bank of India (RBI) will use the existing 10-year bond to raise at least Rs 14,000 crore from the markets on Friday, taking the outstanding of the paper to more than Rs 1.33 trillion, possibly the highest ever amount raised against a security.
This move gives credence to the theory that the central bank may not want to issue a fresh set of 10-year paper in a hurry and would rather continue with the existing security. Read more
China’s Huawei Technologies seeks access to 'trusted' source portal
China’s Huawei Technologies has sought permission for access to the government’s ‘Trusted Telecom Portal’ which went live on June 15 so that it can share details about the telecom products which telecom service providers have agreed to buy from it.
The move is significant as the new National Security Directive on the telecom sector does not in any way prohibit them from participating in the process of selling telecom equipment of any kind to private telcos. Read more
Union Cabinet may soon approve Rs 6,322-crore steel PLI scheme
The Union Cabinet is likely to approve soon a Rs 6,322-crore Production-Linked Incentive (PLI) scheme to boost domestic manufacturing of speciality steel and attract more investments, government officials said.
The scheme will offer an incentive of 4-15 per cent to eligible companies on incremental production, conditional on minimum investment for speciality steel manufactured in India and covered under the PLI scheme. Read more