Microsoft joins India's ONDC WHAT HAS HAPPENED? US firm Microsoft has become the first big tech company to join the Open Network for Digital Commerce (ONDC), A government-backed project which is aimed at enabling small merchants and mom-and-pop stores in parts of the country to access processes and technologies that are typically deployed by large e commerce platforms such as Amazon and Flipkart. The software giant intends to introduce social e-commerce - group buying experience in the Indian market, Which would include a shopping app for Indian consumers along with their social circle, harnessing the ONDC network to discover the best pricing among retailers and sellers. WHAT IS OPEN NETWORK FOR DIGITAL COMMERECE ? It is an initiative aimed at promoting open networks for all aspects of exchange of goods and services over digital or electronic networks. ONDC is to be based on open-sourced methodology, using open specifications and open network protocols inde...
Tata Steel threatens to shut UK operations WHAT HAS HAPPENED ? Tata Steel has threatened to shut its UK operations unless the British government extends aid around £1.5 billion (about ₹14,400 crore), Within the next one year to help the owner of the UK’s largest steelworks reduce its carbon emissions, the Financial Times (FT) reported. "A transition to a greener steel plant is the intention that we have... But this is only possible with financial help from the government,“ N Chandrasekaran, chairman of Tata Sons, told FT. "We have been in discussions over the last two years and we should come to an agreement within 12 months. Without this, we will have to look at closures of sites," he said. WHAT TATA STEEL NEEDS TO DO ? As part of its decarbonisation effort, Tata Steel would close its two blast furnaces at the Port Talbot plant, Stop primary steelmaking and instead build two ele...