🛰️ Starlink’s India license

Good morning. One year ago bitcoin was $37,100 and yesterday it was $87,000 🤯 

- Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• 🛰️ Starlink’s India license

• ⚖️ Antitrust allegations

• 🗞️ Bite-sized summaries

  • 💉 Vaccine manufacturing

  • 🛵 Electric deliveries

• 🧑‍🍳 What else is cookin’?

• 🍿 Entertainment, Entertainment, Entertainment

MARKETS

🇮🇳 India

• Market closed fairly flat, with the Sensex and Nifty showing minimal movement. Investors remained cautious amid mixed global cues and awaited key economic data. Meanwhile, gold prices continued to trade low, reflecting a stronger dollar and rising bond yields.

🌍️ International

• More green! Dow Jones achieved a record high close, bolstered by bank stocks optimistic about Trump's anticipated fiscal policies. Tesla's market value soared to $1.1T, driven by CEO Elon Musk's connections to Trump. Crypto stocks surged as bitcoin hit $87,000.

SATELLITE

🛰️ Starlink’s India license moves forward

Elon Musk's Starlink satellite broadband service has taken a significant step forward in India by agreeing to meet government-imposed data localisation and security standards.

Here’s the TL;DR:

• As per recent reports, this agreement will allow Starlink to progress with its satellite communications license application after a prolonged standoff with the Indian government.

• Central to the issue is India’s requirement for satellite communication companies to store all data generated locally in the country.

• Starlink’s commitment to meeting this guideline, and potentially enabling local intelligence agencies to intercept data if needed, could end the stalemate that has slowed Starlink’s and competitor Kuiper’s entrance into the Indian market.

In 2022, Starlink applied for a Global Mobile Personal Communication by Satellite Services (GMPCS) license, a preliminary step before securing spectrum to launch trial services. With approval now underway, Starlink is awaiting the Telecom Regulatory Authority of India’s (TRAI) spectrum allocation recommendations, expected by December, after which the government will set pricing and allocation rules.

However, Starlink's entry is not without opposition:

• Major Indian telecom operators—Reliance Jio, Bharti Airtel, and Vodafone Idea—argue that satellite spectrum, like theirs, should be auctioned for “retail” use to ensure fairness.

• Starlink countered that satellite communications differ fundamentally from terrestrial telecom services, suggesting that satellite spectrum could be allocated without an auction process.

Overall: As Starlink continues to navigate regulatory and competitive challenges in India, its commitment to local data security standards marks a critical milestone for Musk’s ambitious satellite network plans in one of the world’s largest markets.

Read more: Economic Times

INVESTIGATIONS

⚖️ Antitrust allegations

India’s food delivery giants, Zomato and Swiggy, have recently faced scrutiny amid ongoing Competition Commission of India (CCI) investigations into alleged antitrust violations. Both companies have dismissed reports of any legal breaches as misleading, asserting their commitment to compliance with India’s competition laws.

Here’s what’s happening:

• The CCI investigation began in 2022 following a complaint by the National Restaurant Association of India (NRAI), which raised concerns about potential anti-competitive practices affecting smaller food outlets.

• Allegations include Zomato’s exclusive contracts with select restaurants, restrictions on pricing and discounts, and Swiggy’s ranking penalties for non-compliant partners.

• Both platforms are also alleged to have incentivized certain restaurants with guaranteed business growth in exchange for exclusivity.

Zomato and Swiggy clarified that the CCI's investigation is still in progress and that recent media reports have confused the ongoing probe with a final verdict. Swiggy highlighted that the inquiry, which is part of a preliminary process, has yet to determine any violations.

Overall: Reaffirming their transparency, Zomato stated that they will continue working closely with the CCI to demonstrate that their business practices comply with the Competition Act and do not harm market competition. Swiggy echoed a similar stance, confirming its cooperation with the investigation and commitment to adhere to all local laws.

As the CCI’s examination unfolds, the final findings will determine whether India’s leading food delivery platforms have indeed breached competition norms.

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

💉 Vaccine manufacturing - The Global Trade Research Initiative (GTRI) has called for India to strengthen local vaccine manufacturing and research to ensure greater vaccine safety and control. GTRI also recommended a government-led investigation into post-vaccination health issues to improve transparency in future rollouts. This call gains importance following the October release of "The Pfizer Papers," which has stirred global discussions on vaccine safety and ethics. GTRI’s founder, Ajay Srivastava, emphasized that the findings can help build safer, more effective vaccination strategies, focusing on public health over profit in future pandemic preparedness.

🛵 Electric deliveries - Flipkart has deployed over 10,000 electric vehicles (EVs) in its delivery fleet, enhancing delivery speed by 20% and reducing costs. This effort is part of its goal to transition to a fully electric fleet by 2030, aligning with the Climate Group’s EV100 initiative. Currently, 75% of its EV fleet operates in tier-1 cities, including Delhi and Bangalore. To support this shift, Flipkart is partnering with the Adani Group to establish charging infrastructure, with 38 dedicated sites in tier-2 cities. These developments position Flipkart as a leader in sustainable logistics within the e-commerce sector.

HEADLINES

🧑‍🍳 What else is cookin’?

What’s happening in India (and around the world 🌍️)

• Growth in rural market helps arrest decline in small car sales: Maruti Suzuki.

• Qatar pauses efforts to mediate stalled Gaza cease-fire.

• Israel strikes Hezbollah intelligence headquarters in Beirut.

• Ukraine launches 'massive attack' on Moscow, shutting down airports.

CULTURE

🍿 Entertainment, Entertainment, Entertainment

• Trailer for Netflix's original Sikandar Ka Muqaddar out now - it stars Tamannaah Bhatia, Jimmy Shergill, Avinash Tiwary and Rajiv Mehta.

• Star India to make web series on Reserve Bank.

• Dhadak 2: Triptii Dimri, Siddhant Chaturvedi start shooting for sequel to 2018 film.

• The Great Indian Kapil Show: Navjot Singh Sidhu comes back 5 Years after exit.