New Delhi, April 26: The number of Internet users in India will hit 500 million by June and by 2020, the country will have an estimated 702 million smartphone users, experts said here on Thursday.
Mobile phones will emerge as the preferred device for online shopping by 2020, accounting for 70 per cent of total online shopping, said the experts at the seventh edition of the India Internet Day in the Capital.
The conference was organised by TiE Delhi-NCR, the world's largest network of successful entrepreneurs and professionals -- attended by over 500 Internet enthusiasts from across the nation.
"With the seventh edition of India Internet Day, we kept a sharp focus on how the entrepreneurs should tap into the emerging user base that hails from the corners of the country," said Geetika Dayal, Executive Director, TiE Delhi-NCR.
"We also focused on the nuances that the startups need to keep in mind to reach out to the next 300 million users," she added.
According to Dilip Asbe, Managing Director, CEO, the National payment Council of India (NPCI), Unified Payments Interface (UPI) clocked 178.05 million transactions worth Rs 24,172.6 crore in March this year.
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Russian military hardware, spare parts for Indian military to be manufactured in India
New Delhi (PTI): Russia agreed to encourage joint manufacturing in India of military hardware and spare parts for maintenance of Russian-origin arms and defence equipment.
Ways to bolster overall bilateral defence cooperation figured prominently during summit talks between Prime Minister Narendra Modi and Russian President Vladimir Putin on Friday.
It has been a long-standing grievance of armed forces that the supply of critical spares and equipment from Russia takes a long time, affecting the maintenance of military systems procured from that country.
"Both sides agreed to encourage joint manufacturing in India of spare parts, components, aggregates and other products for maintenance of Russian origin arms and defence equipment under Make-in-India programme through transfer of technology," a joint statement said.
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It said both sides also agreed to set up joint ventures for meeting the needs of the Indian armed forces as well as subsequent export to mutually friendly third countries.
The joint statement said the India-Russia defence partnership is being reoriented to take up joint co-development and co-production of advanced defence technology and systems.
In their meeting on Thursday, Defence Minister Rajnath Singh and his Russian counterpart Andrey Belousov resolved to expand bilateral defence cooperation.
In the meeting, the Indian side showed keen interest in procurement of additional batches of S-400 missile systems from Moscow to bolster its combat prowess.
In October 2018, India signed a USD 5 billion deal with Russia to buy five units of the S-400 air defence missile systems, notwithstanding a warning by the US that going ahead with the contract may invite US sanctions under the provisions of Countering America's Adversaries Through Sanctions Act (CAATSA).
Three squadrons have already been delivered.
The S-400 systems played a crucial role during Operation Sindoor. India may also look at procuring the S-500 missile systems from Russia.
In the Modi-Putin talks, the two sides also agreed to continue jointly developing systems of bilateral trade settlements through the use of national currencies.
Additionally, the two sides agreed to continue their consultations on enabling the interoperability of the national payment systems, financial messaging systems, as well as central bank digital currency platforms.
Modi and Putin appreciated the ongoing intensification of the joint work on a free trade agreement on goods between India and the Eurasian Economic Union, covering sectors of mutual interest, the joint statement said.
They also directed both sides to intensify efforts in negotiations on a mutually beneficial agreement on the promotion and protection of investment, it said.
India and Russia also welcomed steps to ensure long-term supply of fertilisers to India and discussed the potential establishment of joint ventures in this area.
