Nehru Place amongst world’s top 30 IT notorious markets

A US Trade representatives report (USTR) has placed Nehru Place amongst the world’s top 30 notorious IT markets for dealing with goods and services infringing intellectual property rights. The electronic shopping arcade in South Delhi is known for its hi-tech display of gadgets at low prices.

According to the report, “Nehru Place is one of the many markets in major cities throughout India that are known for dealing in large volumes of pirated software, pirated optical media containing movies and music, and counterfeit goods.”

Leading the pack with the largest number of markets that deal in infringing goods and services is China. The country is known for trading computers with illegal operating systems and pre-installed software, deemed unlawful. The trading generally happens in the Buy Now PC Malls, which have 22 shops across China. Other markets indulging in counterfeiting products include the Fu’an footwear and accessory market in Putian, Luohu Commercial Center in Shenzhen; Silk market in Beijing; and small commodities markets in Yiwu.

Among the markets that facilitate and sustain global piracy are the Urdu Bazaars in Karachi and Lahore.  The bazaars are a hub for all services related to printing and publishing, with wholesalers selling paper, stationary and other materials required in the publishing industry. Interestingly, even Nehru place has a vast array of printing presses offering quality deal.

In a bid to crack down on these markets that effect the functioning of legitimate businesses, the USTR has found a technique. They have started applauding the actions of some markets which are trying to get rid of their virtual and physical marketplaces dealing with pirated goods.  They also encourage governments taking enforcement actions to shut down these markets.

A busy day at the Nehru place market, Delhi.
A busy day at the Nehru place market, Delhi.

SpiceJet stake sale news prompts increase in share price

SpiceJet shares increased by 2.9 percent after a news report raised speculations about a potential stake sale of the company’s shares. This report came after the resignation of the Sun Group chief Kalanithi Maran and his wife Kavery Maran from the Board of Directors of Kal Airways. Sun Group  CFO S L Narayanan denied any plans of selling promoter’s shares, saying that they are looking into other options.

For more information, visit Reuters.

 

Ratan Tata retires as Chairman of Tata Global Beverages

Ratan Tata stepped down as the chairman of Tata Global Beverages on Tuesday making way for his successor, Cyrus Mistry. Mistry, who is the director of Tata Sons and the deputy chairman of Tata Steel and Tata Chemicals, has also been inducted in the board of Indian Hotels Company.

Image of Cyrus Mistry and Ratan Tata
Talking business: Cyrus Mistry and Ratan Tata share a light moment at a session in Jampshedpur

Read the full story on Economic Times.

President Sinofsky Bids Adieu To Microsoft

Employees of the Microsoft were genuinely surprised with an unexpected mail from their big boss, Steven Sinofsky last Monday, which said that he was leaving the company. The subject of  this rather shocking message read “RE: Windows Leadership Changes.” He had reportedly sentit from his own Surface RT, in which he explains in detail why he wanted to leave the company for better opportunities.

For more information, visit this website.

So long!