OPINION, P10 WELL BEING There are no poor in India FE LINES SOUND CHECK Swiping into a scam A recent report has highlighted the risk of irreversible hearing loss or tinnitus caused by video games. On World Hearing Day, we find out how this is becoming a major health crisis around the world Page 9 ACROSS THE AISLE , P CHIDAMBARAM How dating sites can be a fertile ground for financial fraud Page 6 SPOTLIGHT Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM VOL. XX, NO. 27 SARTORIAL POWER KOLKATA SUNDAY, MARCH 3, 2024, 14 Pages, `12 (NE States & Andaman `13) P U B L I S H E D F R O M : A H M E D A B A D , FINANCIAL EXPRESS ON SUNDAY B E N G A L U R U , WHAT'S INSIDE C H A N D I G A R H , C H E N N A I , Spring on the plate Noodles made of bottle gourd, or spanakopita made of amaranth leaves or a bruschetta with baingan bharta. Read on to know how vegetables can rule our plates and palates ■ WORDS WORTH, P4 Foreign policy via Ramayana A lucid and relatable book on India’s powerplay in the global arena K O C H I , GOOGLE RELISTS SOME APPS UPON COMPLIANCE App delisting can’t be allowed: Govt GOOGLIED A DAY AFTER Google delisted ■ LEISURE, P7 READ TO LEAD H Y D E R A B A D , JATIN GROVER New Delhi, March 2 Google, app firms for meeting some apps over non-compliance of its billing policy, the government has said such actions cannot be permitted, and it has summoned the tech giant and the app companies to seek clarity on the matter and resolve the dispute. “The delisting by Google cannot be permitted.We have called Google and app developers next week for a meeting,” communications and IT minister Ashwini Vaishnaw told FE,adding,“We are clearin our policy that our startups will get the protection that they need.” The meeting is expected to happen on Monday. While Google has started reinstating some of the apps on compliance, sources in the know said it was expedited after Vaishnaw intervened in the matter. However, most of the apps that have been reinstated are returning as consumption-only apps and not with in-app billing. Continued on Page 2 ■ Govt summons ■ Delisted apps returning as consumption-only apps, not billing ASHWINI VAISHNAW, IT MINISTER STARTUPS WILL GETTHE PROTECTION THEY NEED Govt nod, user consent must for GenAI models JATIN GROVER New Delhi, March 2 THE GOVERNMENT ON Saturday issued an advisory to all intermediaries and generative AI platforms using artificial intelligence (AI) models, software or algorithms to seek permission from the government and label their platforms as “under testing” before making them available to the public. The platforms — including Google’s Gemini,ChatGPT and A look at how some leading ladies make a statement through their attire Page 5 Krutrim AI — will then have to seekuserconsent,clearlystating that the GenAI model or platformcouldgiveincorrectinformation andbe error-prone. “Inalotofways,thisadvisory signals the framework of the futureofourregulatoryandlegislative framework that aims at creating a safe and trusted internet,” Rajeev Chandrasekhar,minister of state for electronics and IT,said. Continued on Page 2 K O L K A T A , L U C K N O W , M U M B A I , N E W D E L H I , ‘Ensured non-trade issues not mainstreamed at WTO’ enduring peace clause exists in its favour.The TheWorldTrade Organization’s 13th ministerial West,particularly the EU,blamed Indiaforthe conference (MC13) ended inAbu Dhabi early sub-optimal outcome ofthe conference.Minister Saturday,with an outcome that most analysts forcommerce and industry,food and public disdescribed as‘muted’.While no headway was tribution PiyushGoyal told FE that ratherthan made on furtherliberalisation ofworld trade,the dwell on non-trade issues,theWTO at this juncconference,which dragged on foran additional ture would do well to restore the credibility ofthe fifth day,could not even forge a consensus on dispute resolution mechanism.“By and large reviving the dispute resolution mechanism the objectives with which we had come to with a functionalappellate body.India has Abu Dhabi are largely met and we go back managed to foil attempts by many memsatisfied,” he told MukeshJagota in an bers to bring‘non-trade issues’into the interview.Edited excerpts: mainstream ofthe multilateral framework,and protect the interests ofits fishHowdoyouseetheoutcomeofthe ermen.While no perconference?Areyousatisfiedwith manent solution to PIYUSH whatitimpliesforIndia? the grain stockGOYAL, It’s a good outcome andwe are comholding issue COMMERCE pletelysatisfied.Alot of issues continued was found at the MINISTER to make progress in terms of discusmeet,India has sions,especiallycontentiousissues that no majorworries had not been closed formanyyears.Such foron this front,as an ward movementis always a signof a possible closure going forward.Indiacontinuesto retain full policyspace forthe benefit of ourfarmers, ourfishermen,and in everyrespectwe have beenable to safeguard India’s interests. & ❝ BY AND LARGE THE OBJECTIVES WITH WHICH WE HAD COME (TO MC13) ARE LARGELY MET AND WE GO BACK SATISFIED Whatweretheissuesthatwere problematicforus? On agriculture,we did not have any problematic issues.Aswe have the benefit of a peace clause on the public stock-holding of food grains,distribution of grains to the poorfree continues uninterrupted and without hindrance. Continued on Page 2 INSIDE Meet ends without much gains PAGE 14 Byju’s defers Feb BJP releases first list salaries, blames of 195 candidates; investor dispute Modi from Varanasi LOK SABHA POLLS ANEES HUSSAIN Bengaluru, March 2 PRESS TRUST OF INDIA New Delhi, March 2 BYJU’S HASTOLD itsemployees THE RULING BJP on Saturday announced Prime Minister Narendra Modi will fight again from Varanasi in the upcoming LokSabhaelectionsasitnamed 34 Union ministers, including Amit Shah, Rajnath Singh and Smriti Irani, in the first list of 195 candidates. The list includes two former chief ministers — Shivraj Singh Chouhan and Biplab Deb — as well as Lok Sabha Speaker Om Birla,who will fight again from KotainRajasthan.Chouhanhas beenfieldedfromVidisha,Madhya Pradesh, and Deb from Tripura West. Union ministers on the list include Mansukh Mandaviya,JitendraSingh,Sarbananda Sonowal, Gajendra Shekhawat,BhupenderYadav,G KishanReddy,KirenRijiju,Jyotiraditya Scindia, Rajeev Chandrasekhar,ArjunRamMeghwal andArjun Munda. Announcing the list, BJP nationalgeneralsecretaryVinod Tawde said the party is confidentofathirdtermwithamuch bigger mandate. The list Prime Minister Narendra Modi at a public meeting at Krishnanagar in Nadia, West Bengal, on Saturday ANI includes 28 women and 47 young leaders,hesaid. The announced names include those for 51 seats in Uttar Pradesh, 20 in West BengalandfiveinDelhi.Thelistsaw major changes for Delhi with Ramesh Bidhuri, Parvesh Verma, Meenakshi Lekhi and Harsh Vardhan being dropped from their respective seats, whileSadhviPragyaThakurwas dropped from herBhopalseat. Continued on Page 2 in a letterthat Februarysalaries havebeendeferredasthefunds raised through a rights issue are inaccessible due to a legal dispute with certain investors,including Prosus,GA, Sofina and PeakXV. In a letter to staff on Saturday, founder & CEO Byju Raveendran said the rights issue,launchedamonthago,has been successfully closed.“This wassupposedtobeahappycorrespondence.After all,we now have funds to meet our shorttermneedsandclearourliabilities.However,I regret to inform youthatwewillstillbeunableto processyoursalaries,” hewrote. The letter added that the company is still striving to ensure that salaries are paid by March10.“Weshallmakethese payments the moment we are permitted to do so as perlaw.” Raveendransaidlastmonth, the company faced challenges duetoalackofcapital,and“now we are experiencing a delay despite having funds”. He wrote:“Unfortunately, a select few (four out of our 150- Trouble over ‘hidden funds’; valuation cut ASMALLFLORIDAhedge fundthatallegedlyhelped Byju’s parent Think & Learn hide $533 million must reveal where the money is located or face possible sanctions on Monday, reports Bloomberg. Macquarie Capital, meanwhile, is writing down nearly its entire investment in Byju’s. ■ PAGE 3 plusinvestors)havestoopedtoa heartlesslevel,ensuringthatwe are unable to utilise the funds raised to pay your hard-earned salaries. At their behest, the amount raised through the rightsissueiscurrentlylockedin a separate account.” Raveendran accused these investorsofhavingacallousdisregard for the lives and livelihoods of others even though they had reaped substantial profits from theirinvestment. Continued on Page 2 On wedding checklist: A viral edition SHUBHANGI SHAH New Delhi, March 2 EVEN AS THE entire country is voyeuristically hooked to the Ambani pre-wedding festivitiesthisweekend,whereglobal celebritieshaveconverged,pop star Rihanna performed, and reportedly2,500 disheswill be servedinthreedays,novelwedding experiences are not the domain of the rich alone. Take the example of a couple from Gujarat who recently tied the knot at minus 25 degrees C amid snowfall in HimachalPradesh’sSpitiValley inthenameofnovelty,withthe video going viral. “In recent years, there has been a noticeable surge in NOVELTY NUPTIALS Couples increasingly looking to differentiate their weddings ■ 20% of budget set aside for entertainment and novel acts ■ ■ Trend fuelled by social media and the possibility of going viral ILLUSTRATION: ROHNIT PHORE unconventional wedding trends driven by social media exposure. Couples are increasingly seeking unique experiences to differentiate their weddings, often inspiredbyviralsensations P U N E and internet trends, earmarking significant sums for Instagram-worthy experiences and novel acts that can make theirweddingsgoviral,”said Devanshi Patel, founder of Shreem Events, who planned theweddingofcricketerHardik Pandya and Natasa Stankovic. Patel goes on to add that such acts “are no longer just for entertainment” but “are integral to crafting a unique and special experience for the wedding”. And that experience comes at a price, which the couples are willing to pay. Continued on Page 2 Kolkata