Estonia's Minister of Economic Affairs and Information Technology Tiit Riisalo has lauded India's IT revolution and said that his country sees India as a "powerful IT centre and one of the centres&nbsp;of gravity".

Speaking to our diplomatic correspondent Sidhant Sibal, he pointed to his country's digital identification ID and India's Aadhar. The minister who is also the Minister of Economic Affairs pointed to how "countries like India are instrumentally important for Estonia...countries who share the same values, the same basic values and in this context, I mainly mean you know, rule of law, democracies need to stick together". The minister is in India to attend the 'Vibrant Gujarat&nbsp;Summit'.

&nbsp;

Here are the excerpts of the exclusive interview.

Sidhant Sibal: What will be the key focus of your India visit?

Tiit Riisalo: Yes, of course. If you look a little bit into the broader picture, the relations with countries like India are instrumentally important for Estonia, because if you look around ourselves in a in a global context, we understand very well that the countries who share the same values, the same basic values and in this context, I mainly mean you know, rule of law, democracies need to stick together and work together and communicate. And for this, not only you know reading what happens in the newspapers or even having the zoom or web conferences is not enough, you need human contact. And that's why we had to deepen this mutual understanding. And we certainly find India, in the coming years one of the major global players who shares our values so of course, we want to have good, good working relationships, diplomatically, economy wise, but also as a minister of economy, I represent delegation of the Estonian companies and as a small export oriented country, Estonia is very happy to scale our businesses outside Estonia and outside EU and we hope also Indian companies take interest in in Estonia. Our market size as a Republic of Estonia is not that big, but we are a member of the EU, one of the outstanding members of the EU and its market of 500 million people. So we hope also from the Indian side to create interest to invest in our region.

Sidhant Sibal: How is India's IT revolution?

Tiit Riisalo: Estonia is a well known digital society. We made our first moves already in the end of the 90s. And we are well recognized worldwide, especially now for the efficiency of digital government. But we understand very well that just by admiring yourself in the changing world, you don't reach too far. And we definitely see India's powerful IT centre&nbsp;and one of the centres&nbsp;of gravity in this context. And from one side we are happy to share how we experience but from the other side to learn what is happening in Estonia. And again, it's also interesting for our IT companies because in IT, it's even better. You know it is much easier to scale up. And so we hope that that we find new ideas here, that India find something useful or Indian company in Estonia, but also vice versa, that that we can, maybe work mutually together in some sort of solution using then both experiences and one thing we certainly share and that most countries don't cross yet very well, I must admit is the importance of strong, singular digital identity, which opens, you know, public services which opens business opportunities, and I think definitely we will find mutual interest

Sidhant Sibal: When it comes to IT space. You have been training Indian officials if you can elaborate on that. And I believe you have with India unique cyber exercises, if you can elaborate on that as well.

Tiit Riisalo: This you know, educating of the public sector of course, is something we have to share with the world and, and we have been doing this this for years, because we believe that this shared experience based on open source software, where India has also now taken a lead which we have been preaching already for years. It's an instrumental cornerstone of democracies so that we actually make the public services not that expensive, easy to develop based on platforms, and that makes it accessible to people. You know, in public sector services, but also business wise. So we are very like minded here and certainly this is, this is also where we have shared our experience also together with our European partners. We have done some training courses which are still going on actually to sort of educate mainly the state employees, but we also look further because we need digital literacy also among you know our populations, otherwise there is no point to develop the digital services. So what concerns cyber, then we are there also I must admit, standing pretty strong on the global level. And it all started for fortunately or unfortunately, with a nuance that Estonia was target of the first major cyber attack in 2007, made to buy by unfortunately our neighbour Russia, but from there on we had to technological basis, but I think we were the first ones to recognize what importance cyber security has in the world which is actually connected to the complete IoT or internet of things. And we see it on a daily basis. And yes, we have a good working relationship and in Estonian case, we always work together with private companies because we just don't have enough people. You know, to hire everybody and in the public sector. So we work together with the private sector and the private sector has also more motivation to develop the services.

Sidhant Sibal: You mentioned the unique identification. When it comes to India. If you can elaborate I mean, are you looking at some kind of Indian model?

Tiit Riisalo: We both use that. We have the system in place already from the beginning of the 2000s. It's electronic identity and you can add the first one it started with you know, the ID card and the chip on it. And then there was you know, messaging based and now it is smartphone based and I think it's developing in the Indian case you use this Aadhaar system, I think so, these are basically doing the same function in a little bit different ways. But, why is it important that this you know, opens secure services, makes it possible to offer secure services. And this is something that we share the understanding, which enables us to work together to advance this sphere.

&nbsp;

Estonia's Minister of Economic Affairs and Information Technology Tiit Riisalo has lauded India's IT revolution and said that his country sees India as a "powerful IT centre and one of the centres of gravity".

Estonia's Minister of Economic Affairs and Information Technology Tiit Riisalo has lauded India's IT revolution and said that his country sees India as a "powerful IT centre and one of the centres of gravity". Speaking to our diplomatic correspondent Sidhant Sibal, he pointed to his country's digital identification ID and India's Aadhar. The minister who is also the Minister of Economic Affairs pointed to how "countries like India are instrumentally important for Estonia...countries who share the same values, the same basic values and in this context, I mainly mean you know, rule of law, democracies need to stick together". The minister is in India to attend the 'Vibrant Gujarat Summit'. Here are the excerpts of the exclusive interview. Sidhant Sibal: What will be the key focus of your India visit? Tiit Riisalo: Yes, of course. If you look a little bit into the broader picture, the relations with countries like India are instrumentally important for Estonia, because if you look around ourselves in a in a global context, we understand very well that the countries who share the same values, the same basic values and in this context, I mainly mean you know, rule of law, democracies need to stick together and work together and communicate. And for this, not only you know reading what happens in the newspapers or even having the zoom or web conferences is not enough, you need human contact. And that's why we had to deepen this mutual understanding. And we certainly find India, in the coming years one of the major global players who shares our values so of course, we want to have good, good working relationships, diplomatically, economy wise, but also as a minister of economy, I represent delegation of the Estonian companies and as a small export oriented country, Estonia is very happy to scale our businesses outside Estonia and outside EU and we hope also Indian companies take interest in in Estonia. Our market size as a Republic of Estonia is not that big, but we are a member of the EU, one of the outstanding members of the EU and its market of 500 million people. So we hope also from the Indian side to create interest to invest in our region. Sidhant Sibal: How is India's IT revolution? Tiit Riisalo: Estonia is a well known digital society. We made our first moves already in the end of the 90s. And we are well recognized worldwide, especially now for the efficiency of digital government. But we understand very well that just by admiring yourself in the changing world, you don't reach too far. And we definitely see India's powerful IT centre and one of the centres of gravity in this context. And from one side we are happy to share how we experience but from the other side to learn what is happening in Estonia. And again, it's also interesting for our IT companies because in IT, it's even better. You know it is much easier to scale up. And so we hope that that we find new ideas here, that India find something useful or Indian company in Estonia, but also vice versa, that that we can, maybe work mutually together in some sort of solution using then both experiences and one thing we certainly share and that most countries don't cross yet very well, I must admit is the importance of strong, singular digital identity, which opens, you know, public services which opens business opportunities, and I think definitely we will find mutual interest Sidhant Sibal: When it comes to IT space. You have been training Indian officials if you can elaborate on that. And I believe you have with India unique cyber exercises, if you can elaborate on that as well. Tiit Riisalo: This you know, educating of the public sector of course, is something we have to share with the world and, and we have been doing this this for years, because we believe that this shared experience based on open source software, where India has also now taken a lead which we have been preaching already for years. It's an instrumental cornerstone of democracies so that we actually make the public services not that expensive, easy to develop based on platforms, and that makes it accessible to people. You know, in public sector services, but also business wise. So we are very like minded here and certainly this is, this is also where we have shared our experience also together with our European partners. We have done some training courses which are still going on actually to sort of educate mainly the state employees, but we also look further because we need digital literacy also among you know our populations, otherwise there is no point to develop the digital services. So what concerns cyber, then we are there also I must admit, standing pretty strong on the global level. And it all started for fortunately or unfortunately, with a nuance that Estonia was target of the first major cyber attack in 2007, made to buy by unfortunately our neighbour Russia, but from there on we had to technological basis, but I think we were the first ones to recognize what importance cyber security has in the world which is actually connected to the complete IoT or internet of things. And we see it on a daily basis. And yes, we have a good working relationship and in Estonian case, we always work together with private companies because we just don't have enough people. You know, to hire everybody and in the public sector. So we work together with the private sector and the private sector has also more motivation to develop the services. Sidhant Sibal: You mentioned the unique identification. When it comes to India. If you can elaborate I mean, are you looking at some kind of Indian model? Tiit Riisalo: We both use that. We have the system in place already from the beginning of the 2000s. It's electronic identity and you can add the first one it started with you know, the ID card and the chip on it. And then there was you know, messaging based and now it is smartphone based and I think it's developing in the Indian case you use this Aadhaar system, I think so, these are basically doing the same function in a little bit different ways. But, why is it important that this you know, opens secure services, makes it possible to offer secure services. And this is something that we share the understanding, which enables us to work together to advance this sphere.

'We see India as a powerful IT centre,' says Estonia's IT minister to WION

The Indian government, in its information technology rules’ draft amendments published on Monday,&nbsp;proposed the constitution of a self-regulatory body which will regulate online gaming companies amid rising concerns over people getting addicted to games and businesses being disrupted by patchy state laws.&nbsp; &nbsp;

The proposal that was introduced by a government panel emphasised the need for new rules to regulate the gaming sector which is set to reach $7 billion by 2026, as per consultancy Redseer.

In recent years, US investment firms Sequoia Capital and Tiger Global have supported Indian start-ups like Mobile Premier League and Dream11, which are famous for their fantasy cricket.

ALSO READ|&nbsp;<a href="https://www.wionews.com/india-news/india-supreme-court-upholds-governments-demonetisation-decision-with-a-4-1-majority-548629">India: Supreme Court upholds government’s demonetisation decision with a 4-1 majority</a>

The need for regulating the industry comes amid increasing fears that the growth of such games is leading to addiction and financial losses among young citizens.

Approval from the government will be required by the gaming companies for registering a self-regulation body which would constitute a member nominated by the government, who has a background in public administration, public finance, public policy and law enforcement and a member who belongs to the field of medicine, psychology or consumer education.

"We believe this is a great first step for comprehensive regulation for online gaming and will hopefully reduce the state-wise regulatory fragmentation that was a big challenge for the industry," said All India Gaming Federation’s CEO Roland Landers.

WATCH|&nbsp;WION Dispatch: India flags 'intense' challenges for China's new Foreign Minister

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/wion-dispatch-india-flags-intense-challenges-for-chinas-new-foreign-minister-548818/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

According to the draft amendments, the companies will also need to appoint a chief compliance officer, who will work towards ensuring conformity with the law and will verify the identity of a user before creating an online account for them to play games.

(With inputs from agencies)

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

The Indian government, in its information technology rules’ draft amendments published on Monday, proposed the constitution of a self-regulatory body which will regulate online gaming companies amid rising concerns over people getting addicted to games and businesses being disrupted by patchy state laws.

The Indian government, in its information technology rules’ draft amendments published on Monday, proposed the constitution of a self-regulatory body which will regulate online gaming companies amid rising concerns over people getting addicted to games and businesses being disrupted by patchy state laws. The proposal that was introduced by a government panel emphasised the need for new rules to regulate the gaming sector which is set to reach $7 billion by 2026, as per consultancy Redseer. In recent years, US investment firms Sequoia Capital and Tiger Global have supported Indian start-ups like Mobile Premier League and Dream11, which are famous for their fantasy cricket. ALSO READ| India: Supreme Court upholds government’s demonetisation decision with a 4-1 majority The need for regulating the industry comes amid increasing fears that the growth of such games is leading to addiction and financial losses among young citizens. Approval from the government will be required by the gaming companies for registering a self-regulation body which would constitute a member nominated by the government, who has a background in public administration, public finance, public policy and law enforcement and a member who belongs to the field of medicine, psychology or consumer education. "We believe this is a great first step for comprehensive regulation for online gaming and will hopefully reduce the state-wise regulatory fragmentation that was a big challenge for the industry," said All India Gaming Federation’s CEO Roland Landers. WATCH| WION Dispatch: India flags 'intense' challenges for China's new Foreign Minister According to the draft amendments, the companies will also need to appoint a chief compliance officer, who will work towards ensuring conformity with the law and will verify the identity of a user before creating an online account for them to play games. (With inputs from agencies)

India plans to introduce bodies for regulating online gaming industry

Before discussing India's information technology companies, I have to tell you a bad joke about Beethoven. It seems some people heard music emanating from the musician's grave after his body was buried, and it turned out to be the reverse of one of his symphonies. On closer examination, they found that Beethoven was, well, decomposing.

Ouch! Apart from apologising for a bad pun, I must say I was reminded of this joke for two reasons. Beethoven happens to be the writer of the Moonlight Sonata, and, as India's software companies furiously discuss <a href="https://www.wionews.com/videos/gravitas-the-gmoonlighting-debate-is-it-legal-to-work-2-jobs-in-india-511895">moonlighting</a> by their employees, I am just wondering if the industry, in its own way, is decomposing!

I have seen cycles come and go in India's codesmith industry, and admired its amazing capacity to adopt and adapt, and, in the process, turn adept. I am sure this will be the case again. But there is writing on the wall for geeks who want to eat the cake and have it too: Two can play this game.

Bangalore-based major software giant <a href="https://www.wionews.com/world/wipro-sacks-300-employees-for-moonlighting-518364">Wipro</a> has walked its talk by firing 300 employees on the ground that they were working part-time for competitors, and companies including industry leader Tata Consultancy Services and <a href="https://www.wionews.com/india-news/after-wipro-infosys-warns-employees-of-consequences-if-found-to-be-moonlighting-515717">Infosys</a> have made similar noises against moonlighting. It is only fair that employees do not work for competitors of their employers, but there is more to it than meets the eye, for which you need to understand both the evolution and the landscape of the industry.

I still remember my first visit to the Infosys campus circa 1995, when it had only 500 employees, and a company spokeswoman proudly showed me a bus that transported workers from central Bangalore to the suburban Electronic City. That was an innocent era in which employees were happy to get a well-paying job, job security, a company-backed home loan, a generous canteen, and free transport.&nbsp;

From there on to big bonuses, onsite work in the US that offered a route to the American Dream Green Card, get-rich-quick stock options, startup ambitions, and unusual perks (NIIT once offered a dating allowance, okay?), things have come a long way. The urge to eat the cake and have it too does not stop.

Employers are not babes in the wood either. From luring employees to putting in long hours by dangling onsite postings or inflating job titles, they keep doing their part. You could say it is par for the course, but technology and circumstances keep changing the landscape.

I remember visiting software facilities in which data protection was so strict that employees were not allowed to carry floppy diskettes or pen drives in or out. They were suitably frisked to ensure safety. Moving from there to the iPad-driven Bring Your Own Device (BYOD) culture for employees and then on to the Covid pandemic-driven Work From Home (WFH) era, software companies have cut costs and improved flexibility at the same time. But the flip side of the coin is the Moonlighting Syndrome. Now that the pandemic seems well on its way out, employers are discovering the downside of the WFH culture and doing something about it.

The Wipro move is certainly a wake-up call for employees because they cannot easily enjoy job security, WFH, and five-day weeks and then get some extra bucks from moonlighting. But equally so, it means that for the industry as a whole, employers have to compete for talent in a way that optimises their profits. Smart people can work faster and better, and incentivising them means giving them competitive salaries that are better linked to output than time. The IT industry has historically worked on the T&amp;M (time and materials) principle, which critics say was only sophisticated body-shopping. With bandwidth and devices now coming easy, creativity and loyalty also need to be properly priced by human resource professionals. Loyalty is difficult to calculate for employers. The war for talent is real, while high expectations among employees have become the new normal.&nbsp;

Just like Generation Z and Millennial relationships, the IT industry has moved from long-term marriages to "something casual" and on the way, it has become, in Facebookspeak, a case of the status becoming "complicated". &nbsp;

This is because IT companies have their own "employment models" that go with business models. Take for instance Tech Mahindra, which ranks below the bigger giants like Wipro.&nbsp;

Its CEO CP Gurnani does not mind employees moonlighting if they meet other criteria like productivity and is thinking of making it a policy! This is because a moonlight-inclusive policy may lower costs for a smaller company to compete with the giants.

Such a move is a potential time bomb for employees because, over time, every company may evolve its own strategy in which only the smartest employees can get away with flexible hours or higher salaries. What stops Wipro or Infosys from partnering with boutique companies and turning the tables on employees? I won't rule it out. Wipro's move is certainly a warning but it also means HR challenges in which IT companies can no longer treat employees like cyber coolies. They must explicitly recognise the men/women and separate them from the boys/girls. This involves management costs.

Also, something must be said about teamwork. WFH reduces the scope for easy teamwork and focus that can enhance both the quality and quantity of output. The best companies encourage collaboration.

The giant-run boutique model is quite common in marketing, communications, and advertising. The London-listed WPP Plc is essentially a holding company that runs a global network of dozens of agencies. I don't rule out an IT major evolving into that model.

I can even imagine a dystopian scenario in which smarter employees turn into high-value gig workers or smart boutique owners while some companies turn into boutique aggregators to manage costs and boost creativity. That will leave your regular software army of low-end coding clerks in the lurch with less pay and less job security. I call it the double disruption scenario.

The fact is that, from IBM's mainframe computers that occupied whole buildings to smartphones with that kind of a capacity resting on your palm, the evolution in technology has thrown new challenges all the time. Neither employees nor employers can take anything for granted. Like in relationships, break-ups may become common.&nbsp;

But then, everybody is looking for love while dominating in a relationship or doing some plain old cheating. Someone somewhere has to face the music -- with apologies to Beethoven.

(Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.)

WATCH WION LIVE HERE

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.&nbsp;

Before discussing India's information technology companies, I have to tell you a bad joke about Beethoven. It seems some people heard music emanating from the musician's grave after his body was buried, and it turned out to be the reverse of one of his symphonies.

Before discussing India's information technology companies, I have to tell you a bad joke about Beethoven. It seems some people heard music emanating from the musician's grave after his body was buried, and it turned out to be the reverse of one of his symphonies. On closer examination, they found that Beethoven was, well, decomposing. Ouch! Apart from apologising for a bad pun, I must say I was reminded of this joke for two reasons. Beethoven happens to be the writer of the Moonlight Sonata, and, as India's software companies furiously discuss moonlighting by their employees, I am just wondering if the industry, in its own way, is decomposing! I have seen cycles come and go in India's codesmith industry, and admired its amazing capacity to adopt and adapt, and, in the process, turn adept. I am sure this will be the case again. But there is writing on the wall for geeks who want to eat the cake and have it too: Two can play this game. Bangalore-based major software giant Wipro has walked its talk by firing 300 employees on the ground that they were working part-time for competitors, and companies including industry leader Tata Consultancy Services and Infosys have made similar noises against moonlighting. It is only fair that employees do not work for competitors of their employers, but there is more to it than meets the eye, for which you need to understand both the evolution and the landscape of the industry. I still remember my first visit to the Infosys campus circa 1995, when it had only 500 employees, and a company spokeswoman proudly showed me a bus that transported workers from central Bangalore to the suburban Electronic City. That was an innocent era in which employees were happy to get a well-paying job, job security, a company-backed home loan, a generous canteen, and free transport. From there on to big bonuses, onsite work in the US that offered a route to the American Dream Green Card, get-rich-quick stock options, startup ambitions, and unusual perks (NIIT once offered a dating allowance, okay?), things have come a long way. The urge to eat the cake and have it too does not stop. Employers are not babes in the wood either. From luring employees to putting in long hours by dangling onsite postings or inflating job titles, they keep doing their part. You could say it is par for the course, but technology and circumstances keep changing the landscape. I remember visiting software facilities in which data protection was so strict that employees were not allowed to carry floppy diskettes or pen drives in or out. They were suitably frisked to ensure safety. Moving from there to the iPad-driven Bring Your Own Device (BYOD) culture for employees and then on to the Covid pandemic-driven Work From Home (WFH) era, software companies have cut costs and improved flexibility at the same time. But the flip side of the coin is the Moonlighting Syndrome. Now that the pandemic seems well on its way out, employers are discovering the downside of the WFH culture and doing something about it. The Wipro move is certainly a wake-up call for employees because they cannot easily enjoy job security, WFH, and five-day weeks and then get some extra bucks from moonlighting. But equally so, it means that for the industry as a whole, employers have to compete for talent in a way that optimises their profits. Smart people can work faster and better, and incentivising them means giving them competitive salaries that are better linked to output than time. The IT industry has historically worked on the T&M (time and materials) principle, which critics say was only sophisticated body-shopping. With bandwidth and devices now coming easy, creativity and loyalty also need to be properly priced by human resource professionals. Loyalty is difficult to calculate for employers. The war for talent is real, while high expectations among employees have become the new normal. Just like Generation Z and Millennial relationships, the IT industry has moved from long-term marriages to "something casual" and on the way, it has become, in Facebookspeak, a case of the status becoming "complicated". This is because IT companies have their own "employment models" that go with business models. Take for instance Tech Mahindra, which ranks below the bigger giants like Wipro. Its CEO CP Gurnani does not mind employees moonlighting if they meet other criteria like productivity and is thinking of making it a policy! This is because a moonlight-inclusive policy may lower costs for a smaller company to compete with the giants. Such a move is a potential time bomb for employees because, over time, every company may evolve its own strategy in which only the smartest employees can get away with flexible hours or higher salaries. What stops Wipro or Infosys from partnering with boutique companies and turning the tables on employees? I won't rule it out. Wipro's move is certainly a warning but it also means HR challenges in which IT companies can no longer treat employees like cyber coolies. They must explicitly recognise the men/women and separate them from the boys/girls. This involves management costs. Also, something must be said about teamwork. WFH reduces the scope for easy teamwork and focus that can enhance both the quality and quantity of output. The best companies encourage collaboration. The giant-run boutique model is quite common in marketing, communications, and advertising. The London-listed WPP Plc is essentially a holding company that runs a global network of dozens of agencies. I don't rule out an IT major evolving into that model. I can even imagine a dystopian scenario in which smarter employees turn into high-value gig workers or smart boutique owners while some companies turn into boutique aggregators to manage costs and boost creativity. That will leave your regular software army of low-end coding clerks in the lurch with less pay and less job security. I call it the double disruption scenario. The fact is that, from IBM's mainframe computers that occupied whole buildings to smartphones with that kind of a capacity resting on your palm, the evolution in technology has thrown new challenges all the time. Neither employees nor employers can take anything for granted. Like in relationships, break-ups may become common. But then, everybody is looking for love while dominating in a relationship or doing some plain old cheating. Someone somewhere has to face the music -- with apologies to Beethoven. (Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.) WATCH WION LIVE HERE × You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Moonlight Sonata in IT major: Why part-time work may cause a double disruption in India

Invoking for the first time the recently notified intermediary guidelines and digital media ethics code under the Information and Technology (IT) Act, 20 YouTube channels and two websites were banned by the Indian government for allegedly running ‘anti-India’ propaganda from Pakistan, according to reports.

According to Economic Times (ET) newspaper, which cited sources, Information and Broadcasting (I&amp;B) secretary Apurva Chandra wrote to YouTube and the Department of Telecom, directing them to immediately block the content which impinges the sovereignty and integrity of India.

According to the reports, the contents&nbsp;were “blasphemous” in nature and were being funded by Pakistan’s spy agency Inter-Services Intelligence (ISI).

Watch | Gravitas:&nbsp;India dismantles Pak's fake news network

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-india-dismantles-paks-fake-news-network-438844/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

It was first flagged by the Indian security agencies, following which the I&amp;B ministry conducted an inquiry.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/indian-govt-issues-one-last-notice-to-twitter-to-comply-with-it-rules-389639">Indian govt issues 'one last notice' to Twitter to comply with IT rules</a>

Among the sites that were taken down include ‘Naya Pakistan’, which had over two million subscribers on YouTube. It was reportedly running “false news” on issues such as Kashmir, farmers’ protests against the farm laws and Ayodhya.

Another portal that was banned is ‘Naya Pakistan Group’, which ran over 15 channels on YouTube and had a following of more than a million subscribers.

According to the reports, the channel ran contents like ‘PM Modi concedes defeat in Kashmir; Article 370 restored’, ‘Taliban Army leaves Kabul for India’, ‘Taiyyap Erdogan sends 35,000 mercenaries for Kashmir’, and the ‘Turk Army enters Ayodhya Ram Mandir to Take revenge’— all of which were seen by the ministry as a “concerted effort to sow unrest in India”.&nbsp;

Under section 16 of the IT Rules, the I&amp;B ministry can block content that is considered “necessary or expedient and justifiable to block”.

Officials said the decision to ban and block these channels and websites will be presented before the Inter-Departmental Committee (IDC) within 48 hours, following which it will be ratified by a committee under the IT Rules, 2021, ET reported.

(With inputs from agencies)

Invoking for the first time the recently notified intermediary guidelines and digital media ethics code under the Information and Technology (IT) Act, 20 YouTube channels and two websites were banned by the Indian government for allegedly running ‘anti-India’ propaganda from Pakistan, according to reports.

Invoking for the first time the recently notified intermediary guidelines and digital media ethics code under the Information and Technology (IT) Act, 20 YouTube channels and two websites were banned by the Indian government for allegedly running ‘anti-India’ propaganda from Pakistan, according to reports. According to Economic Times (ET) newspaper, which cited sources, Information and Broadcasting (I&B) secretary Apurva Chandra wrote to YouTube and the Department of Telecom, directing them to immediately block the content which impinges the sovereignty and integrity of India. According to the reports, the contents were “blasphemous” in nature and were being funded by Pakistan’s spy agency Inter-Services Intelligence (ISI). Watch | Gravitas: India dismantles Pak's fake news network It was first flagged by the Indian security agencies, following which the I&B ministry conducted an inquiry. Also read | Indian govt issues 'one last notice' to Twitter to comply with IT rules Among the sites that were taken down include ‘Naya Pakistan’, which had over two million subscribers on YouTube. It was reportedly running “false news” on issues such as Kashmir, farmers’ protests against the farm laws and Ayodhya. Another portal that was banned is ‘Naya Pakistan Group’, which ran over 15 channels on YouTube and had a following of more than a million subscribers. According to the reports, the channel ran contents like ‘PM Modi concedes defeat in Kashmir; Article 370 restored’, ‘Taliban Army leaves Kabul for India’, ‘Taiyyap Erdogan sends 35,000 mercenaries for Kashmir’, and the ‘Turk Army enters Ayodhya Ram Mandir to Take revenge’— all of which were seen by the ministry as a “concerted effort to sow unrest in India”. Under section 16 of the IT Rules, the I&B ministry can block content that is considered “necessary or expedient and justifiable to block”. Officials said the decision to ban and block these channels and websites will be presented before the Inter-Departmental Committee (IDC) within 48 hours, following which it will be ratified by a committee under the IT Rules, 2021, ET reported. (With inputs from agencies)

20 YouTube channels, two websites taken down under IT Act for ‘anti-India’ propaganda: Report

No technology is foolproof. Some promise better privacy than others. Signal, Telegram, WhatsApp - &nbsp;they're secure till they're not.

And when they stop being secure, when there's a breach of privacy - who should take the blame?

Is it the Messaging Apps? Is it the companies that sell spyware like NSO? Or the governments of the world which are utterly incompetent and thoroughly uninformed on issues such as these?

Or is it 'we the people' who have failed to understand the seriousness of privacy issues. This a classic whodunit question, but I am afraid that the answers are not straight forward.

On WION Edit, we will try to understand this rather complex issue. Now, commercial spyware abuse is a global problem and there will never be a complete solution.

This is because Spywares can be placed using multiple vectors.&nbsp;It can be a missed call, a video call. And you don't even have to pick the call to be hacked!

So we're all vulnerable. So who will stop this? Many governments across the world are inept to deal with this. But here's the bigger worry - many governments could be active participants in this surveillance game.

Companies like NSO have been exposed. There could be others doing the same. Who do they serve?

These hackers are employed by governments across the world. Let's talk about India, cybersecurity is a serious issue.

We have the laws. Section 43 of the Information Technology Act says that hackers are liable for 3 years in jail and a fine of upto Rs 5 lakh rupees.

Great law, at least on paper. Last we checked, the government is struggling with encryption. The Supreme Court asked them to explain why they needed the help of companies like Facebook to break the codes. This is because the government is asking for the support of platforms to decrypt messages, or to access messages.

The problem is, these platforms themselves have no solutions to privacy threats. It's quite a mess. Regulation on the internet is a tricky issue. It's always privacy vs security.

But it's safe to say that India's position on both is 'primitive' and 'unevolved' which brings us to you and me - the users.

There are too many pitfalls on your smartphone. All the apps on your phone communicate with each other and share data. So even if one of them is compromised, the others are breached.&nbsp;

What about search engines? Google and Chrome have alternatives like &nbsp;- DuckDuckGo or Tor? What you do on the internet leaves a trail, in ways you may not have imagined.

This is the information era, you leave a digital footprint. As with every revolution - the tech revolution - will truly benefit us when we take an active part - both in usage and vigilance.

Look at it, the most popular apps are the most vulnerable and yet we use them because they have the first-mover advantage or more features or speed.

At some point, we have to understand that privacy is a bigger issue than all these attractive 'baits'. So, it is time to think about the open source where one company or app doesn't set the rules.&nbsp; 
 
(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL) &nbsp; 
 
&nbsp;

No technology is foolproof. Some promise better privacy than others. Signal, Telegram, WhatsApp - they're secure till they're not. And when they stop being secure, when there's a breach of privacy - who should take the blame?

No technology is foolproof. Some promise better privacy than others. Signal, Telegram, WhatsApp - they're secure till they're not. And when they stop being secure, when there's a breach of privacy - who should take the blame? Is it the Messaging Apps? Is it the companies that sell spyware like NSO? Or the governments of the world which are utterly incompetent and thoroughly uninformed on issues such as these? Or is it 'we the people' who have failed to understand the seriousness of privacy issues. This a classic whodunit question, but I am afraid that the answers are not straight forward. On WION Edit, we will try to understand this rather complex issue. Now, commercial spyware abuse is a global problem and there will never be a complete solution. This is because Spywares can be placed using multiple vectors. It can be a missed call, a video call. And you don't even have to pick the call to be hacked! So we're all vulnerable. So who will stop this? Many governments across the world are inept to deal with this. But here's the bigger worry - many governments could be active participants in this surveillance game. Companies like NSO have been exposed. There could be others doing the same. Who do they serve? These hackers are employed by governments across the world. Let's talk about India, cybersecurity is a serious issue. We have the laws. Section 43 of the Information Technology Act says that hackers are liable for 3 years in jail and a fine of upto Rs 5 lakh rupees. Great law, at least on paper. Last we checked, the government is struggling with encryption. The Supreme Court asked them to explain why they needed the help of companies like Facebook to break the codes. This is because the government is asking for the support of platforms to decrypt messages, or to access messages. The problem is, these platforms themselves have no solutions to privacy threats. It's quite a mess. Regulation on the internet is a tricky issue. It's always privacy vs security. But it's safe to say that India's position on both is 'primitive' and 'unevolved' which brings us to you and me - the users. There are too many pitfalls on your smartphone. All the apps on your phone communicate with each other and share data. So even if one of them is compromised, the others are breached. What about search engines? Google and Chrome have alternatives like - DuckDuckGo or Tor? What you do on the internet leaves a trail, in ways you may not have imagined. This is the information era, you leave a digital footprint. As with every revolution - the tech revolution - will truly benefit us when we take an active part - both in usage and vigilance. Look at it, the most popular apps are the most vulnerable and yet we use them because they have the first-mover advantage or more features or speed. At some point, we have to understand that privacy is a bigger issue than all these attractive 'baits'. So, it is time to think about the open source where one company or app doesn't set the rules. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

WION Edit: Data theft and hacking - what are the solutions

India is exploring new duties on the import of a key smartphone component, according to two government sources, the latest in a series of moves aimed at boosting domestic manufacturing in the world's second-biggest smartphone market.

Ministry of Electronics and Information Technology has mooted a proposal to levy a 10 percent duty on the import of populated printed circuit boards (PCBs), two government officials told&nbsp;this week, declining to be named as the matter is not public.

A PCB is a bed for key components such as processors, memory and wireless chip sets that are the heart of an electronic device. Once populated with components, PCBs account for about half the cost of a smartphone. Currently, most manufacturers of smartphones import PCBs which are already loaded with components to India and then assemble them locally.

If India's finance ministry clears the recommendation on new duties, these could be levied in a matter of days, say government and industry sources, thus making populated PCB imports more expensive and pushing players to locally mount components instead.

India's finance, electronics and trade ministries did not respond to requests for comment.

In the near-term, such actions could spur players like Apple Inc to widen their limited manufacturing and assembly capabilities in India and give an edge to those like Korea's Samsung Electronics and homegrown firm Lava, which already have machines to mount components onto PCBs.

Apple did not immediately respond to a request for comment.

China's OPPO is also putting up surface mounting machines in a new facility it is building in north India, a company executive told Reuters in a recent interview. The local unit of Foxconn, one of the biggest global contract manufacturers of electronics, also has the capability, according to two industry sources.

Foxconn was not immediately reachable for comment.

"This will be a step in a good direction. This is how full-scale manufacturing happens," said S.N. Rai, co-founder of Lava, adding the move will gradually also boost local production of components such as smartphone cameras and screens.

MANUFACTURING AMBITIONS

The move, if implemented, would be the latest step in Prime Minister Narendra Modi's phased manufacturing programme (PMP), a plan unveiled in 2016 to step up local value addition every year in the smartphone manufacturing space.

About 134 million smartphones were sold in India last year, the world's second-biggest market after China.

Modi's government has since raised duties on a range of low-value items such as batteries and chargers and on imported phones.

Any move to impose duties on populated PCBs, however, could risk a backlash from several countries and heighten trade war concerns. China, Canada and the United States among others last week raised concerns at the World Trade Organization around India's imposition of duties on such devices.

In its annual budget last month, India's government outlined higher duties on products including imported smartphones and a range of components.

Modi hopes to turn India into a global manufacturing hub in a bid to boost growth and create tens of millions of new jobs.

While his flagship 'Make in India' drive is still a long way from delivering on lofty job promises, Modi has had some success with the PMP. Over 100 local factories currently assemble mobile phones and accessories like chargers, batteries, powerbanks and earphones in India, says tech research firm Counterpoint.

The PMP currently envisions local assembly of camera modules and printed circuit boards in the fiscal year beginning April 1, according to a public electronics ministry document.

"India has a plan to raise duties for all components bit by bit," said Tarun Pathak an associate director with Counterpoint, adding this will gradually force more domestic manufacturing.

India's Ministry of Electronics and Information Technology has mooted a proposal to levy a 10 percent duty on the import of populated printed circuit boards (PCBs), two government officials told this week, declining to be named as the matter is not public.

India is exploring new duties on the import of a key smartphone component, according to two government sources, the latest in a series of moves aimed at boosting domestic manufacturing in the world's second-biggest smartphone market. Ministry of Electronics and Information Technology has mooted a proposal to levy a 10 percent duty on the import of populated printed circuit boards (PCBs), two government officials told this week, declining to be named as the matter is not public. A PCB is a bed for key components such as processors, memory and wireless chip sets that are the heart of an electronic device. Once populated with components, PCBs account for about half the cost of a smartphone. Currently, most manufacturers of smartphones import PCBs which are already loaded with components to India and then assemble them locally. If India's finance ministry clears the recommendation on new duties, these could be levied in a matter of days, say government and industry sources, thus making populated PCB imports more expensive and pushing players to locally mount components instead. India's finance, electronics and trade ministries did not respond to requests for comment. In the near-term, such actions could spur players like Apple Inc to widen their limited manufacturing and assembly capabilities in India and give an edge to those like Korea's Samsung Electronics and homegrown firm Lava, which already have machines to mount components onto PCBs. Apple did not immediately respond to a request for comment. China's OPPO is also putting up surface mounting machines in a new facility it is building in north India, a company executive told Reuters in a recent interview. The local unit of Foxconn, one of the biggest global contract manufacturers of electronics, also has the capability, according to two industry sources. Foxconn was not immediately reachable for comment. "This will be a step in a good direction. This is how full-scale manufacturing happens," said S.N. Rai, co-founder of Lava, adding the move will gradually also boost local production of components such as smartphone cameras and screens. MANUFACTURING AMBITIONS The move, if implemented, would be the latest step in Prime Minister Narendra Modi's phased manufacturing programme (PMP), a plan unveiled in 2016 to step up local value addition every year in the smartphone manufacturing space. About 134 million smartphones were sold in India last year, the world's second-biggest market after China. Modi's government has since raised duties on a range of low-value items such as batteries and chargers and on imported phones. Any move to impose duties on populated PCBs, however, could risk a backlash from several countries and heighten trade war concerns. China, Canada and the United States among others last week raised concerns at the World Trade Organization around India's imposition of duties on such devices. In its annual budget last month, India's government outlined higher duties on products including imported smartphones and a range of components. Modi hopes to turn India into a global manufacturing hub in a bid to boost growth and create tens of millions of new jobs. While his flagship 'Make in India' drive is still a long way from delivering on lofty job promises, Modi has had some success with the PMP. Over 100 local factories currently assemble mobile phones and accessories like chargers, batteries, powerbanks and earphones in India, says tech research firm Counterpoint. The PMP currently envisions local assembly of camera modules and printed circuit boards in the fiscal year beginning April 1, according to a public electronics ministry document. "India has a plan to raise duties for all components bit by bit," said Tarun Pathak an associate director with Counterpoint, adding this will gradually force more domestic manufacturing.

Electronics ministry moots duties on key smartphone component: Sources

As the day finally arrives for the Finance Minister to present the Union Budget, the Goods and Services Tax (GST) has emerged as the main concern among retailers, who expect a relaxation in the tax slabs across various product categories.

ANI asked the retailers of Hyderabad about their expectations from the budget, and the majority ascribed the dip in their business to GST and hoped the latest budget would provide some relief.

&quot;There is only one thing we want the government to change in budget revision, and that is to reduce the GST percentage on footwear which is 18 percent now,&quot; the footwear retailers said.

They also demanded that the filing of taxation be made easy.

The stationery owners said the 12 percent GST has tremendously affected business, and indicated that a further increase would incur them heavy losses.

The pan shop retailers have also faced a setback from GST and said the latest budget revision should remove the GST on pan and tobacco products.Textile retailers told ANI that the costs have increased despite the five percent GST on textile as an extra tax is charged on manufacturing as well which adds to the total cost and thereby the retail rates.&quot;We have to put that charges even for customers which results in more cost and the public will not be able to purchase, and ultimately it will affect our business.

So it would be better if there will be some changes in the percentage of GST on textile,&quot; told one seller.For toy products, the public is not ready to pay the GST, as VAT is already applicable on them, the toy shop retailer said.

&quot;For that we either have to increase the toys rates for profit or not charge GST as the customers will not buy if it is applicable,&quot; one of the retailers said.

The hardware retailers are also expecting a tax cut, as they said the business has been running low because of the GST.

Most of the gold jewellery retailers said they prefer old tax of one percent on ornaments instead of three percent, &quot;We are expecting this revision as well as a tax reduction on the transportation.

&quot;Handloom traders also expect no tax, saying it takes a lot of hard work.Meanwhile, business in sweet shops have been normal, with five percent GST on the sweet products, and the sellers hoped there is no increase in the upcoming budget revision.

The Goods and Services Tax has emerged as the main concern among small businessmen

As the day finally arrives for the Finance Minister to present the Union Budget, the Goods and Services Tax (GST) has emerged as the main concern among retailers, who expect a relaxation in the tax slabs across various product categories. ANI asked the retailers of Hyderabad about their expectations from the budget, and the majority ascribed the dip in their business to GST and hoped the latest budget would provide some relief. "There is only one thing we want the government to change in budget revision, and that is to reduce the GST percentage on footwear which is 18 percent now," the footwear retailers said. They also demanded that the filing of taxation be made easy. The stationery owners said the 12 percent GST has tremendously affected business, and indicated that a further increase would incur them heavy losses. The pan shop retailers have also faced a setback from GST and said the latest budget revision should remove the GST on pan and tobacco products.Textile retailers told ANI that the costs have increased despite the five percent GST on textile as an extra tax is charged on manufacturing as well which adds to the total cost and thereby the retail rates."We have to put that charges even for customers which results in more cost and the public will not be able to purchase, and ultimately it will affect our business. So it would be better if there will be some changes in the percentage of GST on textile," told one seller.For toy products, the public is not ready to pay the GST, as VAT is already applicable on them, the toy shop retailer said. "For that we either have to increase the toys rates for profit or not charge GST as the customers will not buy if it is applicable," one of the retailers said. The hardware retailers are also expecting a tax cut, as they said the business has been running low because of the GST. Most of the gold jewellery retailers said they prefer old tax of one percent on ornaments instead of three percent, "We are expecting this revision as well as a tax reduction on the transportation. "Handloom traders also expect no tax, saying it takes a lot of hard work.Meanwhile, business in sweet shops have been normal, with five percent GST on the sweet products, and the sellers hoped there is no increase in the upcoming budget revision.

Union Budget 2018: GST revision concerns retailers

Microsoft on Thursday scored a big victory on a keenly watched privacy battlefront, with a US appeals court exonerating the company for refusing to give police user data stored overseas. 
 
A three-judge panel in a US court of appeals in New York City ordered that a finding of contempt against Microsoft be tossed out along with the warrant in the case. 
 
The December 2013 warrant directed Microsoft to turn over the contents of an email account used by a suspected drug trafficker. 
 
Redmond, Washington-based Microsoft handed over account information it kept on US soil, but said the content of emails was off-limits because it was stored on servers in Ireland, according to a summary of the case. 
 
The citizenship and location of the suspected drug trafficker were not revealed. 
 
The warrant had been issued under provisions of Stored Communications Act (SCA) legislation enacted as part of the Electronic Communications Privacy Act of 1986. 
 
Judge Susan Carney of the appeals court said that the SCA does not give US courts authority to force internet companies in the United States to seize customer email contents stored on foreign servers. 
 
&quot;We conclude that Congress did not intend the SCA&#39;s warrant provisions to apply extraterritorially,&quot; the judges said. 
 
&quot;The focus of those provisions is protection of a user&#39;s privacy interests.&quot; Microsoft welcomed the decision, saying it helped insure people&#39;s privacy rights are protected by laws in their own countries. 
 
The case had been closely watched by those who feared that a ruling against Microsoft would pave the way for countries to force internet firms to disclose user data no matter where in the world it was kept. 
 
&quot;This decision provides a major victory for the protection of people`s privacy rights under their own laws rather than the reach of foreign governments,&quot; Microsoft chief legal officer Brad Smith said in an email. 
 
&quot;It makes clear that the US Congress did not give the US Government the authority to use search warrants unilaterally to reach beyond US borders.&quot; 
 
Knowing personal information will be protected by local law is also imperative for people to trust technology companies, Smith reasoned. 
The long-running case has been a key point of concern for online service providers and their users. 
 
If the Department of Justice had triumphed over Microsoft in the case, other countries would have easily seen it as a green light to use their own laws to demand data stored in the US, said Greg Nojeim, a project director at Washington-based nonprofit Center for Democracy and Technology. 
 
&quot;It would have been like the Wild West and disaster for privacy,&quot; Nojeim said.The Information Technology and Innovation Foundation, a Washington-based tech policy think tank which supported Microsoft&#39;s case, said data stored in other countries should be sought under auspices of a Mutual Legal Assistance Treaty designed to let police agencies around the world to help one another. 
 
&quot;The question here isn&#39;t whether the US government can gain lawful access to this data, but rather the process it should use to do so,&quot; said ITIF vice president Daniel Castro. 
 
The US has such mutual assistance treaties with more than 50 countries, including Ireland, according to Castro. 
 
Microsoft&#39;s legal win came with the risk that foreign governments would begin forcing tech companies to rely on local servers to keep information away from US authorities, the ITIF warned. 
 
The group was among several urging US political leaders to speed efforts to improve the MLAT process and create a global framework for governments to legally access data stored in the cloud. 
 
(AFP)

The December 2013 warrant directed Microsoft to turn over the contents of an email account used by a suspected drug trafficker

Microsoft on Thursday scored a big victory on a keenly watched privacy battlefront, with a US appeals court exonerating the company for refusing to give police user data stored overseas. A three-judge panel in a US court of appeals in New York City ordered that a finding of contempt against Microsoft be tossed out along with the warrant in the case. The December 2013 warrant directed Microsoft to turn over the contents of an email account used by a suspected drug trafficker. Redmond, Washington-based Microsoft handed over account information it kept on US soil, but said the content of emails was off-limits because it was stored on servers in Ireland, according to a summary of the case. The citizenship and location of the suspected drug trafficker were not revealed. The warrant had been issued under provisions of Stored Communications Act (SCA) legislation enacted as part of the Electronic Communications Privacy Act of 1986. Judge Susan Carney of the appeals court said that the SCA does not give US courts authority to force internet companies in the United States to seize customer email contents stored on foreign servers. "We conclude that Congress did not intend the SCA's warrant provisions to apply extraterritorially," the judges said. "The focus of those provisions is protection of a user's privacy interests." Microsoft welcomed the decision, saying it helped insure people's privacy rights are protected by laws in their own countries. The case had been closely watched by those who feared that a ruling against Microsoft would pave the way for countries to force internet firms to disclose user data no matter where in the world it was kept. "This decision provides a major victory for the protection of people`s privacy rights under their own laws rather than the reach of foreign governments," Microsoft chief legal officer Brad Smith said in an email. "It makes clear that the US Congress did not give the US Government the authority to use search warrants unilaterally to reach beyond US borders." Knowing personal information will be protected by local law is also imperative for people to trust technology companies, Smith reasoned. The long-running case has been a key point of concern for online service providers and their users. If the Department of Justice had triumphed over Microsoft in the case, other countries would have easily seen it as a green light to use their own laws to demand data stored in the US, said Greg Nojeim, a project director at Washington-based nonprofit Center for Democracy and Technology. "It would have been like the Wild West and disaster for privacy," Nojeim said.The Information Technology and Innovation Foundation, a Washington-based tech policy think tank which supported Microsoft's case, said data stored in other countries should be sought under auspices of a Mutual Legal Assistance Treaty designed to let police agencies around the world to help one another. "The question here isn't whether the US government can gain lawful access to this data, but rather the process it should use to do so," said ITIF vice president Daniel Castro. The US has such mutual assistance treaties with more than 50 countries, including Ireland, according to Castro. Microsoft's legal win came with the risk that foreign governments would begin forcing tech companies to rely on local servers to keep information away from US authorities, the ITIF warned. The group was among several urging US political leaders to speed efforts to improve the MLAT process and create a global framework for governments to legally access data stored in the cloud. (AFP)

Microsoft wins appeal to protect overseas data

Private equity investments in January-March amounted to $3.1 billion through 160 transactions, registering a moderate two per cent decline in terms of deal value over last year, says a PwC report.&nbsp;PwC is India&#39;s one of the leading auditing and consulting firms. 
 
In comparison with the year-ago period, there was a considerable decline of 24 per cent in terms of deals numbers. January-March 2015 quarter had seen 211 deals worth $3.16 billion. 
 
&quot;Indian macros continue to gain health and this is likely to spur M&amp;A and funding activities over the next few months - however we expect this to be sectoral,&quot; PwC India leader Private Equity Sanjeev Krishan said. 
 
A sectoral analysis shows despite a shortfall in big deals in e-commerce, the information technology &amp; IT-enabled services (IT&amp;ITeS) sector continued its dominance with an investment flow totaling $1.26 billion in 92 deals. 
 
&quot;The Digital India programme and ongoing efforts on Smart Cities are driving spending on software and IT services,&quot; Sandeep Ladda, leader - Technology, PwC India said. &quot;The expected growth in the sector will provide more opportunities for investors.&quot; 
 
Banking, financial services and insurance sector (BFSI) came a distant second, attracting $430 million. With a single deal, the travel and tourism sector added $321 million to its account. 
 
&quot;There has been a definite slowdown in the e-commerce/ digital and consumer internet deals and the next few months are likely to see some consolidation in the sector,&quot; Krishan said. 
 
According to PwC MoneyTree India report, a quarterly study of private equity investment activity based on data provided by Venture Intelligence, appetite for private equity continued to be strong with late-stage investments of $1.32 billion invested into mature companies. 
 
Growth-stage investments also played a significant role, attracting $918 million in the first quarter of this calender year, the report said. 
 
From a regional standpoint, Delhi-National Capital Region had an edge over others in January-March with $914 million, whereas Bengaluru saw investments of $875 million. 
(PTI)

Information technology, banking and tourism firms bagged a total of $3.1 billion fund in the first three months of 2016

Private equity investments in January-March amounted to $3.1 billion through 160 transactions, registering a moderate two per cent decline in terms of deal value over last year, says a PwC report. PwC is India's one of the leading auditing and consulting firms. In comparison with the year-ago period, there was a considerable decline of 24 per cent in terms of deals numbers. January-March 2015 quarter had seen 211 deals worth $3.16 billion. "Indian macros continue to gain health and this is likely to spur M&A and funding activities over the next few months - however we expect this to be sectoral," PwC India leader Private Equity Sanjeev Krishan said. A sectoral analysis shows despite a shortfall in big deals in e-commerce, the information technology & IT-enabled services (IT&ITeS) sector continued its dominance with an investment flow totaling $1.26 billion in 92 deals. "The Digital India programme and ongoing efforts on Smart Cities are driving spending on software and IT services," Sandeep Ladda, leader - Technology, PwC India said. "The expected growth in the sector will provide more opportunities for investors." Banking, financial services and insurance sector (BFSI) came a distant second, attracting $430 million. With a single deal, the travel and tourism sector added $321 million to its account. "There has been a definite slowdown in the e-commerce/ digital and consumer internet deals and the next few months are likely to see some consolidation in the sector," Krishan said. According to PwC MoneyTree India report, a quarterly study of private equity investment activity based on data provided by Venture Intelligence, appetite for private equity continued to be strong with late-stage investments of $1.32 billion invested into mature companies. Growth-stage investments also played a significant role, attracting $918 million in the first quarter of this calender year, the report said. From a regional standpoint, Delhi-National Capital Region had an edge over others in January-March with $914 million, whereas Bengaluru saw investments of $875 million. (PTI)

India attracted $3.1 billion worth private equity investment from January to March: PwC

information-technology

Information Technology, News on Information Technology, stories on Information Technology, articles on Information Technology, Information Technology stories at Wion, Information Technology news, Information Technology latest news