With the first round of Assembly elections in the Union Territory of Jammu and Kashmir just concluded, the air in Srinagar's Lal Chowk is buzzing with political discussions. While most chatter revolves around the second phase of elections on September 25 and the candidates, for a smaller group of shopkeepers, a more pressing matter is the impact of frequent internet shutdowns on the region's small businesses and startups.
"After GST and demonetisation, internet shutdown has been the third hammer blow to small businesses," one shopkeeper remarks. "In this digital age, we've lost countless customers due to connectivity issues. During winter, when tourist numbers dwindle, we rely on online demand and deliveries, but even that often hangs in limbo when the internet is down."
For years, Jammu and Kashmir has faced a high number of internet blackouts, and the region's startups have borne the brunt of such disruptions. "Internet connectivity is the lifeblood of a startup, and its frequent suspension has posed immense challenges," says Ishan Verma, president of the J&K Startup Association. "Prior to 2019 due to the then prevailing law and order situation, startups faced significant hurdles in operating without reliable internet, as most rely heavily on technology or digital platforms."
Bu hikaye Business Standard dergisinin September 23, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Standard dergisinin September 23, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
FY25 as weak-earnings year is gradually getting priced in
Even as many blame record foreign portfolio outflows for the market downturn, the real culprit is weak earnings amid rich valuations, says GAUTAM CHHAOCHHARIA, head of global markets, India, UBS. In an interview with Samie Modak in Mumbai ahead of the UBS India Summit, Chhaochharia highlights that 2024-25 (FY25) weak earnings growth is now factoring into market expectations. Investors are shifting their focus to the actions of the Reserve Bank of India (RBI) and the central government, as well as the outcome of upcoming state elections. Edited excerpts:
Non-disclosure of foreign property invites ₹10 lakh penalty per yr
Many high-net-worth individuals who allegedly own undeclared properties in Dubai have received notices from the tax office.
Modest increase in SBI share price after Q2
Brokerages positively revise their earnings forecasts, maintain target price
Strong growth, margin metrics could support LIC's valuations
In the September quarter (Q2FY25), LIC reported net premium income of ₹1.2 trillion, up 12 per cent year-on-year (Y-o-Y).
Mkts settle flat on FPI selling
Benchmark stock indices Sensex and Nifty closed flat in highly volatile trade on Monday as continuous foreign portfolio investors (FPI) selling, disappointing quarterly earnings and weak trends from Asian markets dented investor sentiment.
Rising retail ownership to spur equity cult in India: Morgan Stanley
Retail investors have become a force to reckon with as their ownership of Indian equities has risen by 800 basis points or 8 per cent to 23.4 per cent in the last 10 years, suggests a recent note from Morgan Stanley.
China wrests MSCI EM IMI top spot from India
Change in the pecking order comes amid a sharp rally in Chinese equities
HAVING A TRUCK WITH LNG
Things are changing rapidly with the entry of the private sector, but the path of LNG trucks in India is strewn with rocks
Accounting for climate finance
The climate negotiations meeting of the Conference of Parties signatory to the convention, COP29, at Baku, Azerbaijan, where most nations of the world have gathered currently, shall deal with various concerns relating to climate change.
Re-examine trade pacts
India must consider entering CPTPP, RCEP
