Good morning. It's time to carpe that diem, and what better way to do it than to grab your favourite news reel on Indian business, tech, and startups.

In this edition:

• 🚗 If you thought Mercedes cars were pricey, wait 'til April 1st

• 👩‍💻 Nita Ambani’s gift to her-manity

• ⚠️ Tesla probed for clunky steering wheels

MARKETS

*Stock data as of market close. Source.

Markets: The Indian stock market took a tumble, with the Sensex and Nifty both showing losses in early trading. Despite strong gains in recent weeks, concerns about rising inflation and the impact of the pandemic continue to weigh on investor sentiment, with key stocks like HDFC Bank and Reliance Industries showing losses in the first few hours of trading.

TECH

Apple turns its eye to India for growth, restructures international management

🍎 Apple, the tech giant known for its iPhones, iPads, and Macs, is reportedly shifting its focus to India as a key market for growth. The company is said to be restructuring its international management team to better focus on India, which has become an increasingly important market for Apple in recent years.

Apple's India Strategy

Apple's increased focus on India comes as the company looks to expand its customer base beyond traditional markets such as the US and China. India's large and growing population, coupled with rising incomes and increasing smartphone adoption, makes it an attractive market for Apple's products.

The company has already taken steps to boost its presence in India, including:

• Setting up an online store in India for the first time in 2020

• Offering financing options and trade-in deals to make its products more affordable

• Manufacturing some of its devices in India to take advantage of lower production costs

The management shake-up. As part of its new India-focused strategy, Apple is said to be shaking up its international management team. The company is reportedly consolidating several regions under one executive, with a focus on growth in India and other emerging markets.

AUTO

Mercedes-Benz India is upping car prices come April 1st

🚗 We hope it’s not an April Fools joke, too. Luxury carmaker Mercedes-Benz India has announced a price hike across all its models from April 1st. The move comes as a result of rising input costs and increased customs duty on imported parts and high exchange rate volatility

What we know about the hike

• This price hike will impact all Mercedes-Benz models sold in India, including the popular C-Class and E-Class sedans.

• Mercedes-Benz India's price hike ranges from Rs 1.5 lakh to Rs 2.2 lakh, depending on the model.

📈 Market position. Despite the price hike, Mercedes-Benz India remains a leading luxury car brand in the country (for now), with a strong presence in the Indian market.

NETWORKING

Nita Ambani launches women empowerment platform

👩‍💻 Nita Ambani, Reliance Foundation chair and wife to Indian business magnate Mukesh Ambani, has launched "Her Circle, EveryBODY," a digital platform to empower and support women across India. The project aims to create a network of women from different backgrounds and professions, enabling them to share their experiences and knowledge with each other.

Empowering Women through Digital Networking

The Her Circle platform will provide a variety of resources and tools to help women achieve their personal and professional goals. Some of the features of the platform include:

• Online courses and workshops on topics such as entrepreneurship, finance, and wellness

• Networking opportunities with other women in the community

• Mentorship programs with successful women leaders

• Access to exclusive events and experiences

The platform will be available in several Indian languages, making it accessible to women from diverse regions and backgrounds.

Ambani's Commitment to Empowering Women

Nita Ambani has long been committed to empowering women in India. In 2016, she launched the "Reliance Foundation Youth Sports" program to promote sports among young girls. She has also been a vocal advocate for women's education and health, supporting initiatives such as the Swachh Bharat Abhiyan and the Beti Bachao, Beti Padhao campaign.

INDIA EDITION: WHAT ELSE IS ON THE BIRDWATCH

• 📡 Reliance Jio's global to acquire Mimosa Networks. Reliance Jio, the Indian telecom giant, has announced plans to acquire US-based wireless networking firm Mimosa Networks for $60M. The acquisition is part of Reliance Jio's ongoing efforts to expand its presence in the global telecommunications market.

• 👓️ ADIA eyes $500 million stake in Lenskart. Abu Dhabi Investment Authority (ADIA) is set to acquire a $500 million stake in Lenskart, India's largest online eyewear retailer. The deal, which is still in the works, is expected to boost Lenskart's position in the Indian e-commerce space and drive growth for the company.

• 💳️ HDFC Bank unveils new payments app. HDFC Bank is set to launch a revamped version of its payments banking application, which will offer a range of new features for users. The bank has been working on the update for several months, and is hoping that it will help it to compete more effectively with other players in India's rapidly-growing digital payments market.

FUNDING DEALS

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

• Probus, an Indian IoT communications and data analytics startup, has raised $3M in funding led by US family office Unicorn India Ventures. With this new funding, Probus is poised to expand its services and further revolutionize the Indian tech scene.

• Mintifi, a supply chain financing startup based in India, has raised an impressive $110M in a Series D round led by US-based private equity firm TPG.

• Giva, a direct-to-consumer silver jewelry startup based in India, has secured $4.8M in debt funding from Alteria Capital, a leading Indian venture debt fund.

WORLD

Headline Explorer

⚠️ Tesla in a spin over clunky steering wheels. Tesla is in hot water again as the US National Highway Traffic Safety Administration investigates claims that certain models have steering wheels that can come off while in use. The probe comes as a blow to the electric vehicle maker, which is already facing scrutiny over several high-profile accidents involving its autopilot feature.

📷️ Instagram suffers global outage. Instagram experienced a global outage that left thousands of users unable to access the popular photo-sharing app. The issue was quickly picked up by users who took to other social media platforms to express their frustration with the outage.

🔎 Stifled promotions at Google. Following last year's layoffs, Google has announced that it will be rolling out fewer promotions this year, according to reports. This move comes as the tech giant looks to streamline its operations and focus on key areas of growth, amidst increasing competition from rivals in the tech space.

🚘️ Nissan’s cutting costs for its hybrid cars. While Mercedes cars are getting pricier, Japanese automaker Nissan has announced plans to develop new powertrains for its hybrid vehicles, with a goal of reducing costs by up to 30%. The move comes as the company looks to position itself as a leader in the competitive hybrid car market, while also meeting growing demand for electric and hybrid vehicles around the world.

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