Budget expectations from gaming, tourism and drone sectors!

The most interesting news selected specially for you! 14 July 2024 [View in Browser]( POWERED BY Hello, In today's newsletter, we will talk about: - Budget checklist for online gaming startups - Jio vs Airtel: The race to monetise 5G with fixed wireless access - Drone sector’s Budget wishlist - Eco-friendly choices made easy - Planning tourism’s Budget itinerary Here’s your trivia for today: An "octothorpe" refers to which popular social media symbol? --------------------------------------------------------------- In-depth Budget checklist for online gaming startups The online gaming industry in India has seen a rapid expansion mirroring the rise in digital reach across the country, the adoption and rise of the 5G network, and pandemic-induced change in user consumption patterns. According to an EY report, India had about 455 million gamers in 2023. The industry is now hoping for a boost from the upcoming Budget to be presented on July 23 as high taxes threaten to stagger growth. Level up: - The government has deployed some measures to encourage game development in India by allowing 100% FDI into the sector and the inclusion of esports as part of multi-sports events. - Earlier this month, 70 online gaming and esports companies drafted a recommendation letter to the newly formed government with 10 policies to help the sector. - The companies requested the government to tap into GST rationalisation, suggesting video games be moved from the 18% tax bracket to 12%. [Read More]( --------------------------------------------------------------- From the CapTable Jio vs Airtel: The race to monetise 5G with fixed wireless access In 2022, India’s telecom titans Reliance Jio Infocomm and Bharti Airtel spent big on acquiring fifth-generation, or 5G, spectrum. Combined, the duo spent close to $20 billion. They sank another few billion into procuring telecom equipment from vendors such as Ericsson and Nokia to roll out 5G-capable networks. For all the money it entailed, though, setting up their 5G plays was the easy part. Now comes the hard part—recouping their massive outlays.The two companies are now racing to recover their 5G investments by offering 5G fixed wireless access (FWA) to millions of home subscribers looking for home broadband internet connections. While Airtel was first to launch its 5G FWA offering, Xstream AirFiber, last August in Delhi and Mumbai, Jio’s service—JioAirFiber—was unleashed the following month in 8 cities, including all major Indian metros. Now, both telcos are ramping up the availability of 5G FWA on a war footing. Key takeaways: - Reliance Jio and Bharti Airtel have sunk billions into rolling out extensive 5G networks. - Now, the race is on to monetise them. After the recent tariff hikes, the next battle ground for the telcos appears to be fixed wireless access broadband. - Both companies are aggressively expanding fixed wireless broadband coverage, with Airtel preparing to extend its coverage to hundred of cities pan-India. - Jio, meanwhile, which boasts a far larger 5G network, already offers services in over 7,500 cities and towns and is aggressively moving to increase its broadband lead over Airtel. [Continue Reading]( --------------------------------------------------------------- Union Budget Drone sector’s Budget wishlist India's drone sector is raring to go. It has everything going for it—rapid innovation fuelled by startups, strategic investments, and a supportive government framework. Many analysts YourStory talked to agreed that the upcoming Budget for FY25 needs to include pro-technology policies that promote growth by investing in digital infrastructure, supporting businesses and startups, and encouraging emerging tech sector investment. Take off: - The National Deep Tech Startup Policy (NDTSP) is a significant step towards fostering innovation and economic growth in the drone sector. - The central government launched the Drone Didi scheme in November 2023 to empower women in self-help groups and agriculture by training them as drone pilots for agricultural tasks. The initiative provides agricultural drones to 15,000 women-led self-help groups to generate extra income opportunities. - Establishing dedicated testing facilities and expanding schemes like the Drone Didi Yojana will further empower rural agri-entrepreneurs and foster inclusive economic development through drone technology, says Prem Kumar Vislawath, CEO and Founder of Marut Drones. [Read More]( --------------------------------------------------------------- Sustainability Eco-friendly choices made easy is a marketplace for sustainable products across categories like fashion, beauty, and wellness products. It serves individual customers and the B2B segment, and supplies to multinational companies, hotels, and large institutions. Founder Shivang Singh says the platform is a “conscious movement towards eco-friendly choices”. Go green: - Impacto provides recycled notebooks, bamboo-based toiletries such as tissues, kitchen rolls and wipes, compostable and disposable tableware, and eco-friendly gift hampers to schools, restaurants, hotels, and companies. - The brand earns revenue by charging a 30% commission on sales in the B2C space. For B2B, Impacto purchases the required number of products from the brand and then sells them at a higher price. - It is now moving towards the business-to-government (B2G) sector, where it is working with the Delhi government. [Read More]( --------------------------------------------------------------- Union Budget Planning tourism’s Budget itinerary Post the COVID-19 pandemic, the travel and tourism sectors have undergone an evolution. Travel-related digital platforms, visa-free international destinations and the rise of staycations have seen an uptick among Indian travellers. Against this rapidly changing backdrop, hospitality sector stakeholders are holding a series of expectations from this year’s Budget: industry status for tourism, a reduced GST rate, and funding and enhanced technologies for airport infrastructure, among others. Travel checklist: - A sustained focus on improving road, rail, and air connectivity has boosted local tourism and seen the emergence of new tourist places, especially in rural and semi-urban India. - Last month, Federation of Hotel and Restaurant Associations of India President Pradeep Shetty discussed Budget expectations with Finance Minister Nirmala Sitharaman, including granting infrastructure status for hotels across categories. FHRAI also recommended a 12% GST rate across all hotels. - EaseMyTrip Co-founder Nishant Pitti also expects the upcoming Budget to invest in airport expansions, new air routes, and improved connectivity to boost domestic tourism and job creation and attract international tourists. [Read More]( --------------------------------------------------------------- News & Updates - [Inflation:]( India's retail inflation rate rose for the first time in five months in June due to a sharp rise in food prices. Annual retail inflation was 5.08% in June, up from 4.75% in May. Food prices rose 9.36% from last year in June compared to an 8.69% rise in May. - [Theft:]( US phone giant AT&T will begin notifying millions of consumers about a fresh data breach that allowed cybercriminals to steal the phone records of “nearly all” of its customers. The stolen data contains phone numbers and AT&T records of calls and text messages between May 1, 2022, and October 31, 2022. - [Intervention:]( Japan likely stepped into currency markets for a third time this year to prop up the yen soon after US inflation figures came out Thursday. The scale of intervention was probably around $22 billion, based on a comparison of Bank of Japan accounts and money broker forecasts. Did you know? An "octothorpe" refers to which popular social media symbol? Answer: Hashtag We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com. 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