Good morning. Earlybird here, serving up a fresh brew of business news and insights, all in a fun, pocket-sized package.

In this edition:

• 📡 Modi's incubation plans for 6G

• 🍏 Apple’s push for more China-like labor laws

• 🥲 Blocked bonuses for Credit Suisse staff

MARKETS

*Stock data as of market close. Source.

• Markets: According to endearingly geeky analysts, the Nifty may continue to face resistance until it surpasses 17,200. The index began higher at 17,177 and continued to rise until the close. It hit an intermittent high of 17,207 and a low of 17,108 before finishing at 17,152, up 44 points.

INVESTMENTS

SEBI’s simplified guide to investor service requests

📖 The Securities and Exchange Board of India (SEBI) has issued new norms aimed at improving the processing of investor service requests. TLDR:

• The refurbished guidelines aim to improve processing for listed companies, registrars, and accredited stock exchanges.

• More specifically, holders of tangible securities must now provide a Permanent Account Number (PAN card), KYC data, and nomination under the new requirements.

Feedback-driven. The latest changes are motivated by feedback received from the Registrars Association of India, which had cited procedural obstacles in fulfilling investors' service requests.

Bottom line. By improving transparency and accountability, and ensuring that investor data is accurate and complete, SEBI aims to create a more level playing field for investors while promoting a culture of responsible filing.

TECH

India goes big on 6G wireless tech with Modi’s new test bed

📡 Indian Prime Minister Narendra Modi has launched a new R&D test bed for 6G wireless technology, cementing India's position as a player in the global race to develop the next generation of wireless networks.

Laying the foundation

• India's Department of Telecommunications (DoT) has released a "6G Vision" document that outlines the country's strategy to become a leader in 6G tech.

• The document states that 6G is projected to deliver ultra-low latency with speeds up to 1 terabit per second — 1,000 times faster than the highest speed of 5G.

• The R&D test bed will be established in collaboration with the Indian Institutes of Technology (IITs) and other leading academic institutions.

New horizons

• Opening up the 6G airwaves is part of India's aspirations to gain a significant hold in the global supply chain for new satellite and terrestrial communication technology.

• The project would give an R&D Platform to Indian start-ups, researchers, industry, and other broadband wireless applications such as e-governance, smart cities, rural broadband.

LABOR

Apple wants Indian labor laws to be more China-like

🍏 In a very ‘woah, okay’ move, Apple is pushing for changes to labor laws in India to expand its manufacturing capabilities in the country and reduce its reliance on Chinese factories.

The approach. According to sources, executives from Apple and the Indian Cellular and Electronics Association lobbying group (friends to Foxconn, Pegatron, and Wistron), met with state government officials to press for the revisions. Talks have reportedly been ongoing for 6 months.

Specifics

• Apple is requesting changes to Indian labor laws that would allow for more overtime, flexible work hours, and other measures to increase productivity and efficiency.

• The tech giant hopes to shift more of its production to India in order to reduce its exposure to the ongoing geopolitical tensions between the US and China.

• Apple currently relies on Chinese factories for the bulk of its iPhone assembly, but the company has been exploring ways to diversify its manufacturing base in recent years

Counting prospects. The state of Karnataka had recently passed legislation allowing for labor rule changes, however, it remains to be seen whether other prospective Indian states like Andhra Pradesh, Gujarat, and Uttar Pradesh, will follow suit.

INDIA EDITION: WHAT ELSE IS ON THE BIRDWATCH

• 🚗 Tata Motors is driving up prices by 5%. Tata Motors is giving its commercial vehicle prices a 5% bump from April 1st, and yes, we’re hoping it’s an April fool’s joke, too.

• ✈️ Calling pilots from under their rocks. Boeing is forecasting a high-flying future for India's aviation industry, estimating a demand for 31,000 pilots in the next two decades.

• 📱 5G-as-a-service by Cisco. Cisco is teaming up with Indian telecom companies to roll out a private 5G-as-a-service model to explore further monetization opportunities.

FUNDING DEALS

Catch up on the Indian funding flows from the past 24hrs:

• IndusGo, the self-drive car rental platform, has hit the accelerator with a Rs. 100 crore funding boost from parent company Indus Motors.

• Fretbox, a SaaS platform for logistics management, will fret not after securing Rs. 1 crore in funding led by JSS Step India Accelerator and other investors.

• Sorted, the new fruit and veg startup of former MilkBasket CEO, Anant Goel, has so far raised a juicy $5M in its ongoing seed round, pun intended.

WORLD

Headline Explorer

✋ Swiss authorities block bonuses for Credit Suisse staff. Credit Suisse employees are taking a hit as the government suspends deferred bonus payouts due to the bank's involvement in several high-profile scandals.

💬 Google launches ChatGPT counterpart Bard. Google is shaking up the language AI game with the test launch of its own chatbot, ‘Bard.’ in the US and UK. Google has been more cautious in its distribution of generative AI to customers, in contrast to Microsoft's decision to make the products available quickly despite warnings of issues.

🎨 Adobe is putting the "art" back in artificial intelligence. Adobe just announced the launch of Adobe Sensei Generative AI Services, a suite aimed at helping marketers create compelling content.

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