News Flash (13th October 2020): Top 10 Stories Of The Day

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LANCET, 3rd largest economy
Image Credits: A2Z Tax Corp

India will be the world’s 3rd largest economy by 2050 – LANCET

According to a study published in the medical journal Lancet, the Indian economy is expected to surpass Japan to become the 3rd largest economy in 2050 after China and the US. The forecast says India will emerge and hold the fourth position by 2030. “By 2100, India was forecasted to still have the largest working-age population in the world, followed by Nigeria, China, and the USA”

Due to power outage, exams of MU get postponed

Mumbai power outrage
Image Credits: The Economic Times

Due to the outbreak of coronavirus, the University of Mumbai was conducting the exams of UG and PG students online. The massive power cut in most of Maharashtra resulted in the cancellation of the exams in the state. The University has rescheduled the exam dates to Sunday, 18th October 2020. Moreover, the timing of the exams would remain the same. 

India’s health budget 4th lowest in the world states Oxfam report

India health budget lowest, 3rd largest economy
Image Credits: The Financial Express

A report by Oxfam has stated that India currently has the fourth-lowest health spending globally. Just 4% of the country’s total budget is spent on healthcare as compared to the recommended 15%. “More than 70% of health spending is being met by people themselves, one of the highest levels globally,” the report stated. It added that this has left India “woefully ill-prepared to deal with the COVID-10 pandemic”.

Brands helping ‘Baba ka Dhaba’ with their Marketing Tools.

Baba ka Dhaba
Image Credits: Engineers Corner

Various popular brands are now helping ‘Baba Ka Dhaba’ to flourish. Pepsi’s billboard can be seen all over the Dhaba. Pepsi gifted a beverage cooler and a few stocks of their drink. Paytm helped them to ensure easy monetary transactions and wished them the best with their tweet. Zomato listed them on their app and few people of their team are helping with the delivery of the food.

Elon musk plans to enter the Indian market by January 2021.

Elon Musk, Indian market
Image Credits: The New Indian Express

Tesla CEO Elon Musk recently confirmed that his electric vehicle manufacturing company will enter the Indian market soon, probably by next year. There is a little information about the business project of Tesla, but the Tesla fan can soon see their Model 3 or Model Y on the Indian roads.

Walmart and Flipkart invest Rs 220 crores in Ninjacart

Walmart and Flipkart, Ninjacart
Image Credits: Twist Article

After their first investment in December 2019, US-based retailer Walmart and Flipkart group have once again invested in Bangalore – based fresh produced grocery supply startup Ninjacart. The Economic Times reported. “The e-grocery market in India has seen tremendous growth over the past several months,” said Kalyan Krishnamurthy, CEO Flipkart Group.

Center to give Rs 10,000 special festival advance to all govt. employees.

special festival advance, 3rd largest economy
Image Credits: Scroll

Finance Minister Nirmala Sitharaman on Monday said that the coronavirus pandemic has ‘adversely affected’ the Indian economy and consumer demands need to be stimulated. The minister announced cash vouchers and special festival advance schemes for government employees to boost demand.

Ratan tata financial assistance to Upstox became 2nd biggest broker in India. 

Ratan tata, Upstox
Image Credits: Bloomberg Quint

Upstox, an online discount brokerage startup that is backed by Ratan Tata is looking to tap users in smaller Indian towns apart from millennials who are interested in investing in the market and mutual funds as it looks to catch rival Zerodha. 

Ravi Shastri launches a male grooming and hygiene product chain ’23 Yards’

23 Yards, Ravi Shastri, male grooming

Ravi Shastri, a former cricketer and Indian cricket team has now chosen to become an entrepreneur and launched a male grooming and hygiene product line named ‘23 Yards’. The cricketer has collaborated with personal care manufacturer Ador Multi products Ltd, to produce grooming products which included beard oils, face wash, body wash, aftershave, deodorant, and hand sanitizer. The main target group of these products is people who fall between the age of 25 to 40 years.

Razorpay becomes a unicorn, raised $ 100 million in series D funding

Razorpay, D funding
Image Credits: YourStory

A Bengaluru startup named Razorpay, which offers end-to-end payment solutions to businesses has raised $100 million in funding in Series D round from Sequoia Capital India and GIC. This has made the startup the sixth Indian unicorn this year, as this takes its valuation to over $1 billion. 

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