After Uber Black And Uber X, Is It Uber Auto's Turn?: Top India Headlines

This has to be a first for this San Francisco company. Uber executives are testing out the three-wheeler auto services in the capital New Delhi, which will allow users to book a three-wheeler auto through its app, much the same way as we already do with Ola. Uber is also shedding its premium tag in India, if it is bringing the cheapest mode of public transport under its umbrella (after trains and buses, that is). This, after its first foray into this market was with its ultra premium Uber Black. Uber, which is facing government’s ire on various counts, is giving India its best shot by partnering with Times Internet, a part of India’s biggest media group, and increasing the number of women drivers in its kitty. Ola, meanwhile, has already taken a page from Uber’s book and launched a food delivery service, Ola Café, modeled on UberFresh.

Here’s look at a new breed of startup stars. After e-commerce and radio cabs, it looks like investors are turning the spotlight on gaming startups. The two most-funded of the lot are of course, Octro, known for the mobile version of ubiquitous card games Rummy and Teen Patti, and MoonFrog Labs which also has its version of Teen Patti or Indian poker. This is obviously linked to the surge in smart phone usage in India – the country had 116 million internet enabled phones at the end of 2014, expected to jump to 435 million in five years. It’s not just the investors. Rovio, maker of Angry Birds, has also sharpened its focus on India although not much is known about what it wants to do here.

The long-awaited Indian trade policy is out. The government moved a step closer to the World Trade Organization rules by simplifying export subsidies, a long-standing sore point in its negotiations with the WTO. At the same time, it also announced measures to reduce export costs and strengthen the special economic zones. A closer look suggests that the government will eventually phase out subsidies as a means to encourage exports and in turn focus on forcing companies to become more competitive. At the same time, it has also set an export target of $900 billion by 2020.

Some more good news for stocks. The upbeat mood in the markets over the past few months has encouraged more companies to plan their initial share sales. A look at the public filings with the regulator shows that 12 companies have filed in the first quarter, compared with 18 in all of 2014. The benchmark Sensex rose 25 percent in the last financial year, the best in five years, and bankers are definitely in the mood to take advantage of this euphoria.

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