KHABARKOSH

28 Feb 2024 Discuss.

Wednesday Debate.
Disseminate.

PUBLIC POLICY GROUP VOL 30

Business | Policy | World

FORTNIGHTLY NEWSLETTER
FEATURED: CAN AI BE TRUSTED?
CHALLENGES & CONTROVERSY
SURROUNDING LLMS
Recent issues with Google's Gemini and OpenAI's
ChatGPT raise concerns about biased responses and
reliability, emphasizing the challenges in the development
of Artificial Intelligence tools.
RELIANCE AND DISNEY ANNOUNCE
LANDMARK MEDIA MERGER IN INDIA
RIL and Walt Disney are set to reshape India's
media landscape by merging Viacom18 and Star
India, consolidating TV broadcasting, streaming,
movies, and sports into a single powerhouse, with
RIL owning a 61% stake, Disney retaining 33%
and Bodhi Tree Systems owning 6%.
Page 2
US AND EU UNVEIL EXTENSIVE
SANCTIONS AGAINST MOSCOW AMID
UKRAINE CONFLICT
As the Russia-Ukraine conflict enters its second
year in February 2024, the United States and
European Union have jointly announced over 500
new sanctions targeting Moscow for aggression.
Page 4
SC OVERTURNS RESULT; DECLARES
AAP CANDIDATE CHANDIGARH
MAYOR
The Supreme Court set aside the decision of the
returning officer, who had declared a BJP
candidate as Chandigarh mayor on January 30.
The court declared AAP candidate Kuldeep Kumar
to be the winner of the mayoral poll.
Page 3

ZOMATO'S BLINKIT EXPANDS TO GOVT EASES FDI NORMS FOR SPACE SHAHBAZ SHARIF SET TO BECOME NEW
TAKE ON E-COMMERCE GIANTS SECTOR PRIME MINISTER OF PAKISTAN

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 KHABARKOSH VOL 30

28 Feb 2024 | FORTNIGHTLY NEWSLETTER | BUSINESS

RELIANCE INDUSTRIES AND WALT DISNEY TO MERGE
VIACOM18 AND STAR INDIA, CREATING INDIA'S
LARGEST MEDIA EMPIRE
Continued from page 1
This merger creates India's largest media empire, boasting a
collective revenue of ₹25,000 crore in FY23. With over 100 TV
channels the entity redefines content consumption.
The merger also cements the entity's dominance in sports
broadcasting, holding assets like the Pro Kabaddi League and Indian
Super League, with combined investments totaling $10 billion.
However, regulatory scrutiny looms due to the significant market share
in both TV and streaming.

In a rapidly changing media landscape, this merger highlights the

TATA GROUP'S MARKET
VALUE SURPASSES
PAKISTAN'S GDP AMID
ECONOMIC STRUGGLES
Tata Group's market capitalization
has surged to $365 billion,
surpassing Pakistan's $341 billion
GDP, showcasing its dominance in
India's economy. Key sectors like
Tata Motors, Trent, Titan, TCS, and
Tata Power have seen remarkable
growth, with several companies
doubling their wealth. Unlisted
entities like Tata Sons further
bolster Tata Group's economic
might.
Meanwhile, Pakistan faces economic
challenges, including a contracting
GDP, heavy external debt ($125
billion), and dwindling reserves ($8
billion), which will barely covers two
months of essential imports. With a
debt-to-GDP ratio exceeding 70%
and significant debt payments
looming, Pakistan struggles to
stabilize its economy.
strategic necessity for industry adaptation, following the Sony Group-
Zee Entertainment merger collapse. This signifies a monumental shift
in India's media industry by positioning the combined entity as a
formidable future of entertainment.
CONSUMER GOODS
SECTOR BRACES FOR 2-4%
PRICE HIKE IN 2024
Leading consumer goods
companies are preparing for a 2-4%
price increase in 2024 to combat
inflation and rising wage costs.
Firms like Godrej Consumer
Products, Dabur, and Emami are
among those planning price
adjustments in response to inflation,
particularly in essential items like
cereals and spices.
Despite recent emphasis on volume-
driven growth, negative price growth
due to input cost deflation has
prompted this shift towards price-
led growth. Analysts anticipate this
strategy will aid in FMCG sector
recovery.
Additionally, companies are focusing
on optimizing product mixes and
introducing premium offerings to
sustain growth amidst market
challenges
ZOMATO'S BLINKIT
EXPANDS TO TAKE ON E-
COMMERCE GIANTS
Zomato's Blinkit is expanding into
the direct-to-consumer (D2C)
market, challenging e-commerce
giants like Amazon and Flipkart.
Adding brands from new categories
to its 10-minute delivery platform,
Blinkit aims to diversify beyond
food delivery and establish a strong
foothold in e-commerce.
Industry sources suggest
discussions with brand owners for
stocking inventory, signaling long-
term growth potential. Zomato's
efforts to acquire Shiprocket
demonstrate its commitment to
bolstering Blinkit's position. As
Blinkit prepares to compete,
analysts anticipate fierce rivalry in
India's e-commerce landscape. With
a focus on rapid delivery and
product expansion, Zomato aims to
disrupt the market and emerge as a
major player.

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28 Feb 2024 | FORTNIGHTLY NEWSLETTER | POLICY

SC OVERTURNS RESULT; DECLARES AAP CANDIDATE

CHANDIGARH MAYOR
Continued from page 1
Holding that it would be “inappropriate” to set aside the
“election process in entirety”, a bench headed by Chief
Justice of India (CJI) DY Chandrachud held that the “only
infirmity” found was in the pronouncement of the result by
returning officer Anil Masih. The bench refused to accept
Masih’s explanation as to why he declared the eight votes for
AAP candidate as invalid.

The bench strongly disapproved of Masih’s conduct as a

returning officer. The bench held that Masih “unlawfully
altered the course of the mayoral election”. The bench ruled
that the “solemn statement” made by Masih before the court,
justifying his action, was a “patent falsehood”.

The AAP and the Congress hailed the verdict of the SC.

TRAI RECOMMENDS INSTALLATION OF FDI NORMS EASED FOR

MANDATORY CALL NAME
DISPLAY TO CURB SPAM
In another move to check
unsolicited calls, the telecom
regulator has recommended that all
network operators should
implement the calling name display
service on mobile phones and
further that, all smartphone makers
should be mandated to enable this
feature within a stipulated time.
The feature will originally be
enabled by the terminating access
provider who received the call by
making a query to the central
subscriber database of provider
from where the call originated. In
the recommendation document,
Trai said that the 140-number
series allocated for businesses or
telemarketers should also be
displaying the name of calling
entity.
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ROOFTOP SOLAR UNITS
NOW EASIER & QUICKER
The government has amended the
electricity rules to exempt
households from a technical
feasibility study for power systems
up to 10 kW capacity in a bid to
encourage rooftop solar adoption.
For systems of capacity higher
than 10 kW, the time frame for
completing the feasibility study
has been reduced to 15 days from
20 days.
The amendments to the Electricity
(Rights of Consumers) Rules,
2020, also further reduced the
time allowed for getting new
electricity connections and
simplified the process of setting
up rooftop solar installations, said
power and new and renewable
energy minister RK Singh.
SPACE SECTOR
India eased foreign direct
investment (FDI) norms for the
space sector on February 21, as part
of its efforts to attract overseas and
private investments. The Cabinet
allowed 100% FDI in components
manufacturing of satellites.
At present, FDI in the space sector
is allowed up to 100% in the area
of satellite establishment and
operations through government
route only. As per the latest
changes, the satellite sub-sector
has been divided into three
activities with defined limits for
foreign investment in each. This
increased private sector
participation would help generate
employment, enable modern
technology absorption and make
the sector self-reliant.

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 KHABARKOSH VOL 30

28 Feb 2024 | FORTNIGHTLY NEWSLETTER | WORLD

US AND EU UNVEIL EXTENSIVE SANCTIONS
AGAINST MOSCOW AMID UKRAINE
CONFLICT
Continued from page 1
As the conflict persists, the sanctions also target Russian
officials allegedly involved in human rights violations,
including Navalny's death. The measures seek to disrupt
supply chains aiding Russian military operations, with the
US later sanctioning Russia's leading tanker group,
Sovcomflot, for violating price caps on Russian oil.

While the US and EU hope the economic pressure will

force Moscow to reconsider its actions, concerns remain
regarding the humanitarian fallout. These actions
underscore Western determination to impose
consequences on Moscow and potentially alter the
conflict's dynamics. The sanctions display a strategic
resolve to sustain pressure and encourage a pragmatic
shift.

DUBAI INTRODUCES 5-YEAR SHEHBAZ SHARIF SET TO JAPAN SLIPS TO FOURTH

MULTIPLE ENTRY VISA FOR
INDIAN TOURISTS
In February 2024, Dubai introduced
a 5-year multiple entry tourism visa
for Indian citizens to bolster visitor
arrivals and strengthen cultural-
economic ties. The flexible visa
regime allows Indians to enter Dubai
and stay for up to 90 days,
extendable by another 90 days within
a calendar year, eliminating the need
for frequent reapplications.
Despite pandemic disruptions,
Indian tourist footfalls surged to 2.46
million in 2023, surpassing pre-
COVID-19 levels. The initiative aligns
with Dubai's economic agenda,
aiming to consolidate its position as
a global business and leisure
destination while fostering increased
people-to-people exchanges and
economic diversification beyond
traditional sectors.
BECOME PAKISTAN'S
PRIME MINISTER AFTER
IMRAN KHAN'S OUSTER
Pakistan's National Assembly voted
176-against-Imran Khan in a no-
confidence motion, leading to his
ouster and Shehbaz Sharif's
upcoming assumption of the Prime
Minister role. Asif Zardari is
expected to become President. The
political upheaval followed Khan's
failed attempts to avoid the vote,
ultimately overturned by the
Supreme Court.
Sharif's coalition, comprising PML-
N, PPP, and dissident factions,
faces economic challenges
including high inflation and
depleted reserves. Restoring
relations with the US and
managing potential early elections
amid thin legislative support are
key priorities for the new
government.
PLACE IN GDP RANKINGS
BEHIND GERMANY
Japan has slipped to fourth place in
GDP rankings, behind Germany.
Structural challenges and currency
depreciation led to stagnation,
thwarting earlier projections of
overtaking the US. Japan's aging
population and low fertility rates
exacerbate economic hurdles,
contributing to a recent technical
recession.
This setback undermines Japan's
historical growth trajectory and
necessitates urgent structural
reforms. Meanwhile, India's rapid
economic ascent underscores the
shifting global economic landscape.
To revive growth, recommendations
include immigration expansion,
boosting fertility rates, and
investing in emerging technologies
for both Japan and Germany.

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 GEMINI & CHATGPT UNDER SCRUTINY
WHY IN NEWS?
Recent incidents involving Google's large language
model, Gemini, and OpenAI's ChatGPT have raised
concerns about the reliability and ethical implications of
these advanced AI systems. Gemini faced criticism for
generating allegedly biased responses related to
Indian Prime Minister Narendra Modi, while ChatGPT
experienced a crash due to a distributed denial-of-
service (DDoS) attack, followed by a period of
generating gibberish.
REASONS BEHIND FALLOUT:
Gemini, developed by Google DeepMind, generated
problematic responses related to PM Modi, leading to
accusations of bias. Screenshots shared on Twitter
showed the model not explicitly calling other world
leaders fascists but doing so in the case of PM Modi.
This incident followed Google's acknowledgment of
errors and racial bias in Gemini's text-to-image
feature. IT Minister of State, Rajeev Chandrasekhar,
pointed out potential violations of the IT rules.
ChatGPT faced a DDoS attack, rendering it inoperable,
and later generated nonsensical responses for a 16-hour
period. The company attributed this to a bug introduced
during an update intended to improve user experience,
disrupting the language processing and resulting in the
generation of gibberish. Users speculated about AI
hallucinations, but OpenAI clarified it was a bug.
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AI'S LIMITATIONS AND BIASES:
While incidents with Gemini and ChatGPT highlight
challenges, it's important to note that AI models,
especially large language models (LLMs), rely on
machine learning and are susceptible to limitations
and biases. Adversarial attacks, like the DDoS attack
on ChatGPT, and inherent biases in training data
can impact the reliability of these models. AI excels
at specific tasks but is still under development and
prone to errors.
Studies have revealed biases in facial recognition
algorithms, leading to wrongful arrests. AI-powered
hiring tools have also faced criticism for perpetuating
biases in the hiring process. These real-world
examples emphasize the importance of human
oversight in complex decision-making and ethical
considerations, as AI lacks the general intelligence,
adaptability, and creativity of humans.
In short, AI is only as good as the data it's trained on.
Therefore, while AI continues to advance, recent
incidents underscore the need for ongoing
development, vigilance, and ethical considerations.
The limitations and potential biases in AI models
highlight the importance of human oversight in
ensuring responsible and fair applications of artificial
intelligence.