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Ecommerce platform Flipkart has launched its Unified Payment Interface (UPI) handle as it takes on Amazon and plans to also compete with Paytm and other payment services in the country. 

The service will offer loyalty features such as supercoins, cashbacks, milestone benefits and branded vouchers to its over 500 million customers.

Meanwhile, Naukri.com, 99acres.com and NaukriGulf were among a handful of apps that made a comeback on Google Play Store after they complied with the tech giant’s payment norms. The government called the delisting of Indian apps unacceptable and summoned a meeting on the issue next week.

In other news, India aims to join the high-stake global stage of semiconductor manufacturing as it combines design capabilities with $10 billion of incentives to draw manufacturers to set up new fabs and units. This will help India cut the dominance of Taiwan, South Korea and China, said IT and Telecom Minister Ashwini Vaishnaw.

ICYMI: Apple halted its decade-long effort to build an electric car last week. 

Lastly, here are the top languages spoken in the world.

In today’s newsletter, we will talk about 

• Sunny days ahead for startups 
• Inside eco-friendly bistros of India

Here’s your trivia for today: Which two US companies have reached a $3T market value so far?

TechSparks

Sunny days ahead for startups

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Image credit: Shutterstock

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The market has enough capital for valuable startups and they can expect sunny days ahead, believe investors.

Speaking at a panel discussion at TechSparks Mumbai, Puneet Kumar, MD, Steadview Capital; Shashank Randev, Co-founder & Founder VC, 100X.VC; and Abhishek Bhagat, MD, Digital & Technology Investment Banking, JM Financial Ltd, concurred that we are past the so-called funding winter and bright days may lie ahead.

End of winter:

• Bhagat of JM Financial believes that while some startups raised funds at inflated valuations in the past few years and are struggling to justify the price tag, there are plenty of opportunities ahead for many startups.
• Randev of 100X.VC also believes there is enough money today to invest in bright startups, and these startups can also raise follow-on rounds.
• Taking money is an obligation to investors, which requires a founder to run their company in a certain way, Kumar said.

Wine and food

Inside eco-friendly bistros of India

Sustainability is gradually becoming a buzzword in the alcobev space. Whether it is about optimising resources, limiting waste generation, or incorporating local ingredients, bars are becoming environmentally conscious. 

Many bars in Pune, Delhi, Bengaluru, and Kolkata are prioritising sustainability, Vikram Achanta, Co-founder of 30BestBarsIndia, a homegrown bar ranking platform, tells YS Life. 

Pioneers:

• Cobbler and Crew was termed India’s most sustainable bar in 2024 by 30BestBars. It shared the pedestal with Soy Como Soy, the first-ever Nikkei restaurant in Pune. 
• As per Achanta, bars must adopt a management model centred on waste reduction, recycling, energy conservation, and the promotion of sustainable food and beverage consumption. 
• Malaka Spice in Pune uses a farm-to-table approach. It sources all its ingredients from a farm, situated outside Pune, which employs sustainable farming practices for both perennial and seasonal crops. 

News & updates

• Crypto boom: The cryptocurrency industry is betting on the 2024 U.S. election, spending millions of dollars in Super Tuesday primary contests in California, Alabama and Texas to boost crypto-friendly candidates and defeat those pushing for more regulation.
• Preterm birth: Climate change is having detrimental effects on children’s health as an increasing number of infants are born preterm and are experiencing respiratory disease, putting society’s most vulnerable at greater risk of death.
• Flight MH370: Families of passengers who were onboard the lost Malaysian Airlines flight MH370 have called for a renewed search operation as they gathered ahead of the 10-year anniversary of its disappearance, saying answers are needed for the future of flight safety.

What you should watch out for

• International Women’s Day: On March 8, Friday, countries across the world will observe International Women’s Day to recognise and celebrate the social, economic, cultural, and political achievements of women. The campaign theme for this year is “Inspire Inclusion.”
• IPO watch: Eight IPOs are expected to hit Dalal Street, and seven companies are scheduled for listing. In the mainboard, RK Swamy will open its public issue for subscription from March 4-6, JG Chemicals from March 5-7, and Gopal Snacks from March 6-11, while Mukka Proteins will be closing the IPO on March 4. Markets will remain closed on Friday on account of Mahashivratri. 

Which two US companies have reached a $3T market value so far?

Answer: Apple and Microsoft. 

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