Also in this letter:
■ Experts estimate that at least 1% of IT workers have multiple jobs
■ Since the beginning of COVID, IT companies have absorbed Rs 1.2 lakh gig workers
■ SoftBank cuts valuation of upcoming IPO Oyo to $2.7 billion
Experts warn of duplication as center rewrites rules for technology and telecommunications
The federal government said the numerous new laws being made to oversee India’s telecommunications and information technology sectors should clearly define the jurisdiction of regulators to avoid future regulatory inconsistencies. , said several cyber policy experts.
Gray area: They noted specific provisions in the newly announced Draft Indian Telecommunications Bill 2022 (released Wednesday) and existing IT Law, Digital India Law and upcoming Personal Data Protection (PDP) Bills in the pipeline. The potential overlap between is a concern.
like that? The new telecommunications bill includes over-the-top (OTT) communication services such as WhatsApp, Telegram and Signal. The proposed IT regulations are also expected to include provisions governing these companies, they said.
Decide whether to be overseen by the Telecommunications Regulatory Authority of India (TRAI) or the proposed Data Protection Authority (DPA) under the PDP Bill, as the government is drafting both the Telecommunications Act and the IT Act. is needed. These companies, they added.
status quo: While apps such as WhatsApp are currently regulated under the IT Act, provisions under the IT Rules notified last year will increase oversight of important social media companies such as WhatsApp, including provisions for message traceability. I’m here.
Yes, but: The newly released draft telecommunications policy expands the definition of “telecommunications services” to include OTT telecommunications services. This means that these companies will also be regulated under the new law.
With one quote: “OTT services are already forced to comply with IT laws that do not take into account the latest privacy technologies and intentions, especially end-to-end encryption. Extending the Communications Act to this would be another unnecessary headache that accomplishes nothing additional for the country and its law enforcement agencies.
Recruiters estimate that at least 1% of IT workers have multiple jobs
Remote work during the pandemic may have increased the incidence of side jobs, with at least 1 in 100 IT services workers likely to have more than one job, according to multiple recruitment firms. executives say.
That’s one reason many organizations are now trying to get their employees back into the office.
According to IT industry lobby group Nasscom, Indian IT companies employ about 5 million people.
Zero Tolerance: Wipro Chairman Rishad Premji said on Wednesday that the Bengaluru-based company has laid off 300 employees after they were found to be working for a competitor.
Anshuman Das, CEO of Careernet, said his recruitment agency found candidates hiding their current employment when joining on behalf of IT clients. His dual employment with Provident came to light when he shared the fund’s unique account number.
According to Das, the two companies immediately ended his contact.
Yes, but: Experts say the majority of employees aren’t abusing WFH’s arrangements, and remote work is helping more women and people get out of the subway.
Inside out: Some organizations don’t mind employees having multiple jobs or gigs. “At BeGig, our gig working company, we have many people who work more than one job as gig workers. At Tech Mahindra. “We have always encouraged our employees to follow their dreams.”
SoftBank cuts valuation of upcoming IPO Oyo to $2.7 billion
SoftBank Group has slashed the book value of Oyo Hotels by more than 20% as the once-booming Indian startup prepares for an initial public offering (IPO).
haircut: A Japanese investor, the largest shareholder in a hotel booking company, cut Oyo’s estimated value to $2.7 billion in the June quarter from $3.4 billion previously, after comparing it to peers in similar businesses. Oyo achieved his $10 billion valuation with his 2019 funding round.
Oyo response: The company said it believes the valuation should not have been cut given its rebounding performance, adding that it has not yet decided on the timing of the IPO.
IPO plan:We reported on Monday that Oyo has filed new financial documents with Indian market regulators and is aiming for an IPO in 2023.
Since Covid started, IT companies have absorbed Rs 1.2 crore gig workers
Indian IT services firm facing talent shortage offers full-time equivalent/employment (FTE) opportunities for gig workers using alumni network, career-interrupting women and big four accounting firms offers.
These employees were primarily spread across domains such as testing, application development maintenance and support, cloud specialists, and microservices.
By numbers: From April 2020 to September 2022, IT companies will employ more than 120,000 people, according to an analysis by IT market research firm UnearthInsight. This represents approximately 80% of all technology service workers previously employed in a gig-based model.
In the two quarters ending December and March of 2021, approximately 70,000 freelancers will be converted to FTE, and in the two quarters ending June and September of 2021-22, nearly 30,000 freelancers will be converted. was converted to FTE.
The drop in headcount in the June and September quarters of last year was due to an easing talent situation as companies cut hiring targets and turnover rates began to stabilize.
Uber pilots in-vehicle tablets in Delhi and Mumbai to boost ad revenue
Ride-hailing company Uber is testing in-vehicle tablets that display ads to passengers in Delhi and Mumbai as part of its global expansion.
Spaces to allow: These tablets are fixed behind the rider-facing front seats and are a way to generate monetization and an additional revenue stream.
“A lot of the significant engineering work in this pilot has been done by our engineering team in India, and this is a global product,” said a source with knowledge of the matter, adding that the tablets will first be installed in taxis in the United States. I added that it will be brought in after being done. to markets like India.
The company can display third-party ads and cross-sell other services such as Uber Eats. “If you’re on your way to the airport, you can sell food coupons for the airport food court,” the source said.
Advertising, advertising, advertising: Tech companies in various sectors are increasingly looking to advertising revenue to improve their unit economics. For example, e-commerce giant Amazon will generate more than $30 billion in 2021 from advertising alone.
Tweet of the day
Advance booking trend suggests travel demand is at ‘all-time high’
Travel and hospitality executives say travel sentiment is at an “all-time high” and pre-booking trends suggest people are likely to celebrate the upcoming holiday season in the same way they did before the pandemic. That’s it.
Pending demand: Vipul Prakash, COO of MakeMyTrip and Goibibo, said he hopes this festive travel season will see one of the biggest surges in bookings since covid shut the world down, according to current data.
“Advance bookings have already exceeded (advance) bookings for the 2019 holiday season by more than 12%. We can expect an increase in bookings for leisure and visiting friends and relatives,” he said.
“Currently, there is a 40% increase in bookings to leisure destinations such as Goa, Port Blair and Udaipur, and in parallel travel to Tier 2 and 3 cities has increased by around 26% compared to pre-pandemic. I’m looking at
Kush Kapoor, CEO of Roseate Hotels & Resorts, said he expects revenue to increase by at least 15% from the same period in 2019 from October to December.
ET eCommerce Index
We launched three indexes to track the performance of recently listed technology companies: ET Ecommerce, ET Ecommerce Profitable, and ET Ecommerce Non-Profitable. This is their journey so far.
Other Top Stories by Reporters
Zetwerk reports a six-fold increase in revenue in 2022. Manufacturing services unicorn Zetwerk reported revenue of Rs 496.1 billion in its financial year 22 results audited Thursday. That’s a six-fold increase from his last fiscal year. After taking into account non-cash Employee Stock Ownership Plan (Esop) costs, the overall loss was little changed at Rs 42 crore.
WhatsApp Pay India head resigns: Manesh Mahatme, director and head of WhatsApp Pay in India, left the company earlier this month after working for the Meta-owned messaging app for almost 18 months. Mahatme, a former director and director of Amazon Pay India, was hired by WhatsApp in April 2021 to lead its payments vertical. He is expected to rejoin his former employer Amazon India in a strategic role, sources said.
Global picks we’re reading
■ The next Silicon Valley is in the heart of the United States (Wired)
■ Book bans surge, but online access is filling the void (Washington Post)
■ Tesla recalls about 1.1 million vehicles over window pinch concerns (WSJ)