Truecaller doubles down on India

Hello,

CCI says no to Google’s walled garden.

On Thursday, Additional Solicitor General N Venkataraman concluded the Competition Commission of India's arguments before an appellate tribunal in a case against Google saying the Alphabet-owned company had created a ‘digital data hegemony’ using its “money-spinning search engine” as the ‘castle’ and with its other apps playing the defensive role of a 'moat'. 

The CCI had in October slapped a penalty of Rs 1,337.76 crore on Google for anti-competitive practices in relation to Android mobile devices.

Meanwhile, Rajesh Gopinathan is stepping down from his position as the MD and CEO of TCS, and K Krithivasan has been appointed as CEO-designate. Gopinath will continue with the IT major until September 15, aiding Krithivasan’s transition. Krithivasan is currently President and Global Head of the Banking, Financial Services, and Insurance business group at TCS.

In other news, RBI and the Central Bank of UAE have signed an MoU to work on emerging areas in fintech, with a specific focus on Central Bank Digital Currencies. The two entities will work on a proof of concept as well as pilots for a bilateral bridge to facilitate cross-border CBDC transactions of remittances and trade.

And why not end your week with a deep dive into the history of the evolution of Bengali sweets?

In today’s newsletter, we will talk about 

• Truecaller’s big bet on the Indian market
• Easing founder woes one deck at a time
• Guide to building sustainable livelihoods

Here’s your trivia for today: Which is the oldest human-made object still in orbit?

Technology 

Truecaller’s big bet on Indian market

Swedish caller ID firm Truecaller is betting big on the Indian market, which contributes over 70% of its global business. As the next step, it aims to touch 500 million users in India by 2026 and has opened its largest office space outside Sweden in Bengaluru.

India calling:

• Spanning an area of 30,443 sq ft, Truecaller’s Bengaluru facility can host up to 250 employees. 
• The office is already occupied by 200 employees across the technology, product, marketing, and Truecaller for Business verticals.
• “Today, we have around 55% of connected smartphones in India using our service every day. If the same pace is maintained, we will have 700 million to 800 million connected smartphones by 2026,” CEO Alan Mamedi said.

Startups

Easing founder woes one deck at a time

For every startup founder, the pitch document is cardinal. It acts similar to an individual’s resume and makes a crucial document for venture capitalists to understand the company before they loosen their purse strings. Helping founders in this endeavour is Tamil Nadu-based Start Insights. 

Pitch calls:

• Founded in 2021, the SaaS startup works with early-stage startup founders in the process of finding, approaching, and pitching an investor. 
• It also helps them with the process in between—including market analysis, financial projections, and the entire end-to-end documentation. 
• Since its inception, Start Insights has delivered over 40 pitch decks and helped six startups successfully raise pre-seed and seed funding rounds worth a combined $1.2 million. 

SocialStory

Guide to building sustainable livelihoods

TNS India Foundation was established under the aegis of TechnoServe as a not-for-profit organisation in 2012 to work with under-resourced rural and urban communities. It aims to foster skill development, promote sustainable local economic growth, and strengthen the farming segment.

Community work:

• Under its Campus to Corporate programme, the NGO works in three and four-tier colleges in Mumbai, Delhi-NCR, Bengaluru, Mangaluru, and Puducherry, to train students in soft skills and advanced technical, digital, and industrial skills such as stenography and sewing.
• It also promotes local farming to increase household incomes and supports sustainable livelihoods in 14 villages in Gir Somnath District in Gujarat, and 15 villages in Nashik in Maharashtra.
• TNS India Foundation is also working with 55 women from Bengaluru who are small merchants, tailors, or beauticians, providing targeted support to help them scale up their businesses.

News & updates

• Winning deal: Foxconn has won an order to make AirPods for Apple and plans to build a factory in India to produce the wireless earphones. The deal will see the company become an AirPod supplier for the first time and underlines its efforts to further diversify production away from China.
• Regaining title: Singapore’s Changi airport has regained its title as the world’s best after losing its long-held crown to Qatar for two years running during the height of pandemic travel restrictions. Doha’s Hamad International Airport earned second place, and Tokyo’s Haneda Airport bagged third.
• Late retirement: French President Emmanuel Macron on Thursday resorted to using special constitutional powers to push his plan to raise the retirement age to 64 from 62 through the lower house of parliament. The pensions overhaul has been met with widespread protests across the country.

Which is the oldest human-made object still in orbit?

Answer: Vanguard 1. 

Launched by the United States in 1958, it was also the first solar-powered satellite. While communication was lost with it in 1964, the satellite and the upper stage of its launch vehicle remain in orbit.

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