India home to 70 billionaires; Mukesh Ambani is the richest Indian

London, May 14: Fugitive liquor baron Vijay Mallya on Thursday urged the Central government to accept his offer to repay 100 per cent of his loan dues and close the case against him.

While congratulating the Centre for introducing Rs 20 lakh crore relief package to boost the economy amid the coronavirus lockdown, Mallya, lamented that his repeated attempts to pay back his dues have been ignored by the Indian government.

"Congratulations to the Government for a Covid 19 relief package. They can print as much currency as they want BUT should a small contributor like me who offers 100% payback of State-owned Bank loans be constantly ignored? Please take my money unconditionally and close," he tweeted.

Earlier this month, Mallya had sought permission to appeal against a ruling ordering his extradition to India in Britain's highest court the UK Supreme Court.

The application comes two weeks after the High Court in London - the UK's second-highest court - dismissed Mallya's appeal against a lower court ruling that he be sent to India to face charges of defrauding a consortium of Indian banks of more than Rs 9,000 crores relating to the collapse of Kingfisher Airlines in 2012.

Jan 13: India lost more than $1.33 billion to internet restrictions in 2019 as Prime Minister Narendra Modi’s government pushed ahead with his party’s Hindu nationalist agenda, raising tensions and sparking nationwide protests.

The worst shutdown has been in Kashmir, where after intermittent closures in the first half of the year, the internet has been cut off since Aug. 5 following the government’s decision to revoke the special autonomous status of the country’s only Muslim-majority state, a study said. The prologued closure was criticized by India’s highest court, which ruled Friday that the “limitless” internet shutdown enforced by the government for the last five months was illegal and asked that it be reviewed.

India imposed more internet restrictions than any other large democracy, according to the Cost of Internet Shutdowns 2019 report released by Top10VPN, a U.K.-based digital privacy and security research group. The South Asian nation recorded the third-highest losses after Iraq and Sudan, which lost $2.31 billion and $1.86 billion respectively to disruptions. Worldwide internet restrictions caused losses worth $8.05 billion, the report said.

The cost of internet blackouts was calculated using indicators from groups including the World Bank, International Telecommunication Union, and the Delhi-based Software Freedom Law Center. It includes social media shutdowns in its calculations.

India’s ministry of information and technology didn’t respond to an email seeking a response to the report’s findings.

‘Conservative Estimates’

Through 2019, India shut access to the internet for over 4,000 hours. The report added shutdowns in India were often narrowly targeted, down to the level of blocking city districts for a few hours to allow security forces to restore order. Many of these incidents were not included in the report.

“These are conservative estimates,” said Simon Migliano, head of research at U.K.-based Top10VPN. “Internet shutdowns are increasing and it shows a damaging trend.”

India’s other major internet disruptions coincided with two moves by the government that affect India’s Muslim minority. The first disruption took place in November in the states of Uttar Pradesh and Rajasthan after the Supreme Court handed a victory to Hindu groups over Muslim petitioners in a long-simmering dispute over a plot of land.

There were further disruptions in December when protests erupted against the introduction of a religion-based law that allows undocumented migrants of all faiths except Islam from neighbouring countries to seek Indian citizenship. The government enforced shutdowns across Uttar Pradesh and some Northeastern states in order to quell the protests, the report said.

Jan 15: Amazon.com Inc Chief Executive Officer Jeff Bezos is facing a bitter welcome during his India visit this week as the country’s antitrust regulator initiated a formal investigation just hours before his arrival and trader bodies comprising millions of infuriated small store owners announced demonstrations.

Bezos is in New Delhi for the Smbhav summit, an Amazon India event for small and medium businesses. The billionaire is scheduled to conduct a fireside chat with Amazon India chief Amit Agarwal, anchoring an event that also features Infosys Ltd. co-founder Narayana Murthy and retail billionaire Kishore Biyani, who recently sold a stake in his retail group to Amazon. Ahead of the event, Bezos paid his respects at Mahatma Gandhi’s memorial, wearing a white tunic and a rust-colored Indian vest.

The small businesses that Amazon’s CEO is hoping to endear himself to, however, are organizing in opposition. The Confederation of All India Traders announced that members of its affiliate bodies across the country would stage sit-ins and public rallies in 300 cities to raise a war cry against the world’s largest online retailer. In a letter to Prime Minister Narendra Modi last week, the confederation’s Secretary General Praveen Khandelwal alleged that Amazon, much like Walmart Inc.-owned Flipkart, was an “economic terrorist” who engaged in predatory pricing that deprived the government of tax revenue and “compelled the closure of thousands of small traders.”

India’s e-commerce market is projected to grow to $150 billion by 2022, according to a 2018 report by software industry group Nasscom and consulting firm PwC India. Competition for this rapidly expanding sector is intensifying as Asia’s richest man, Mukesh Ambani, prepares to go live with JioMart, an online shopping platform challenging Amazon and Walmart directly. The latter’s Flipkart Online Services Pvt is also delving deeper into the countryside in its pursuit for more customers. Amazon, for its part, opened a huge office complex in the southern city of Hyderabad in September, underscoring its commitment to the country.

The Competition Commission of India said it would probe the deep discounts, preferential listings and exclusionary tactics that Amazon and Flipkart are alleged to have used as anti-competitive levers. India’s trade bodies have long argued that both retail giants were flouting rules by promoting sales and discounts through their favoured sellers, many of whom they have preexisting commercial arrangements. The regulator has ordered for the investigation to be completed within two months.

Bezos last visited India in 2014 under starkly different circumstances. During that trip, the Amazon founder wore local festive garb, rode atop a festooned truck for a photo opp and presented Amazon’s Indian unit with a giant check for $2 billion. Since then, Amazon has pledged a further $3.5 billion to expand in the country.