The Facebook-owned messaging platform, WhatsApp has built a system to store payment-related data locally in India. The move is aimed at complying with Reserve Bank of India’s (RBI’s) data localisation norms.
The new move of WhatsApp is expected to threaten established industry giants, SoftBank and Alibaba supported Paytm.
Media reports earlier stated that the formal launch of WhatsApp’s inter-bank money transfer service was also postponed following lack of clarity on the local data storage norms in the country.
The payment gateways including Mastercard, Visa, PayPal, Google, and others met finance minister Arun Jaitley recently to obtain an extension of the last date (October 15) to set up a system for local storage of payments data, according to the media reports.
“All system providers shall ensure that the entire data relating to payment systems operated by them are stored in a system only in India. This data should include the full end-to-end transaction details/information collected/ carried/processed as part of the message/payment instruction. For the foreign leg of the transaction, if any, the data can also be stored in the foreign country, if required,” said a directive from RBI released April 6, this year.
“System providers shall ensure compliance of above within a period of six months and report compliance of the same to the Reserve Bank latest by October 15, 2018,” the RBI said fixing a deadline to set up the new system to store the data locally.
NEARLY all iPhones exported by Foxconn from India between March and May were shipped to the United States, according to customs data reviewed by Reuters.
The data showed that 97 per cent of Foxconn’s iPhone exports during this period went to the US, significantly higher than the 2024 average of 50.3 per cent.
This marks a shift in Apple’s export strategy from India, which earlier supplied iPhones to several destinations including the Netherlands, the Czech Republic and Britain. Now, India-made devices are being directed almost exclusively to the US market.
Between March and May, Foxconn exported iPhones worth 3.2 billion US dollars (around 2.35 billion pounds) from India, with most shipments heading to the United States. In May 2025 alone, shipments were valued at nearly 1 billion dollars (around 735 million pounds), the second-highest monthly figure after the record 1.3 billion dollars (around 955 million pounds) in March.
Apple declined to comment, and Foxconn did not respond to a Reuters request for a statement.
Tariff pressure
US president Donald Trump on Wednesday said China would face 55 per cent tariffs under a plan agreed in principle by both countries, subject to final approval. India, like many US trading partners, faces a baseline 10 per cent tariff and is negotiating to avoid a 26 per cent “reciprocal” levy that Trump announced and then paused in April.
In May, Trump criticised Apple’s increased production in India. “We are not interested in you building in India, India can take care of themselves, they are doing very well, we want you to build here,” he said, recalling a conversation with Apple CEO Tim Cook.
In the first five months of 2025, Foxconn exported iPhones worth 4.4 billion dollars (around 3.23 billion pounds) to the US from India. This already exceeds the 3.7 billion dollars (around 2.72 billion pounds) shipped in the whole of 2024.
Export push
Apple has been accelerating its iPhone shipments from India to reduce dependence on China amid rising tariffs. In March, the company chartered aircraft to move iPhone 13, 14, 16 and 16e models worth roughly 2 billion dollars (around 1.47 billion pounds) to the US.
Apple has also urged Indian airport authorities to reduce customs clearance time at Chennai airport, a key hub for iPhone exports in Tamil Nadu, from 30 hours to six hours, Reuters has reported.
“We expect made-in-India iPhones to account for 25 per cent to 30 per cent of global iPhone shipments in 2025, as compared to 18 per cent in 2024,” said Prachir Singh, senior analyst at Counterpoint Research.
Tata’s role
Tata Electronics, another Apple iPhone supplier in India, shipped nearly 86 per cent of its iPhones to the US during March and April, the customs data showed. Data for May was not available.
The Tata Group company began exporting iPhones in July 2024. During 2024, 52 per cent of its shipments went to the US, according to the data. Tata declined to comment.
Indian prime minister Narendra Modi has promoted India as a smartphone manufacturing hub. However, high import duties on mobile phone components continue to make domestic production more expensive than in many other countries.
Apple has historically sold over 60 million iPhones annually in the US, with approximately 80 per cent made in China.
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The Bank of England is weighing inflation signals ahead of rate call
PAY growth in Britain slowed sharply and unemployment rose to its highest level in nearly four years in the three months to April, official figures showed on Tuesday (10), potentially reducing the Bank of England’s (BoE) caution over further interest rate cuts.
Wage growth excluding bonuses slowed to 5.2 per cent, the weakest pace since the three months to September, and fell more than expected from 5.5 per cent in January to March this year.
The jobless rate climbed to 4.6 per cent, up from 4.5 per cent, reaching its highest point since the three months to May 2021, the Office for National Statistics said.
The April data was the first since employers were hit by a £25 billion rise in social security contributions which came into force at the start of the month, as well as a 6.7 per cent increase in the minimum wage.
The downturn appeared to gather pace in May, according to separate tax office data which showed a slump of 109,000 in the number of employees on company payrolls, the most since May 2020 at the height of the Covid-19 pandemic.
The Bank of England, which is expected to keep rates on hold at next week’s meeting, has been trying to gauge if inflation pressures in Britain’s labour market are easing sufficiently for it to continue cutting interest rates at its current quarterly pace.
“There continues to be weakening in the labour market, with the number of people on payroll falling notably,” said ONS director of economic statistics Liz McKeown.
“Feedback from our vacancies survey suggests some firms may be holding back from recruiting new workers or replacing people when they move on.”
The BoE last trimmed borrowing costs in May, by a quarter point to 4.25 per cent.
Its governor, Andrew Bailey, said last month that domestic wage and price developments were likely to be more important for future reductions in borrowing costs than US trade policy, although April’s US tariffs did help swing some policymakers’ decision to vote for a cut at its last meeting in May.
In the private sector alone, watched closely by the BoE, earnings excluding bonuses rose by 5.1 per cent in the three months to the end of April, also the weakest pace since the third quarter of 2024 the Office for National Statistics said.
Growth in total pay, including bonuses, slowed to 5.3 per cent in April from an upwardly revised 5.6 per cent, compared to economists’ forecasts for 5.5 per cent.
There were also other signs of loosening in Britain’s jobs market.
Vacancies fell by 63,000 in the three months to May to 736,000, their lowest level since the three months to April 2021.
Conservative MP and shadow business and trade secretary, Andrew Griffith, said the rise in unemployment was not surprising.
“Businesses are still absorbing a £25 billion jobs tax, but things are about to get even worse as ... (the government) hits businesses with higher regulation,” Griffith said.
Labour’s employment minister, Alison McGovern, said the ONS data showed that half a million more people were in work than when Labour won a national election last July and that wages had grown faster since then than during a decade of Conservative-led rule after 2010.
Chancellor Rachel Reeves was due to deliver her first multi-year spending review on Wednesday (11), to set budgets for public services, after Eastern Eye went to press on Tuesday.
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The discussion around inclusivity and parenthood is likely to remain in the spotlight.
A female entrepreneur has said she felt “absolutely humiliated” after being denied entry to London Tech Week because she was accompanied by her 18-month-old daughter.
Davina Schonle, founder and chief executive of AI start-up Humanvantage AI, had travelled from her home to attend the event at Olympia on Monday, 10 June. She said she had made a three-hour journey to London with her daughter, Isabella, only to be turned away on arrival because children were not allowed into the venue.
The incident occurred on the same day Labour leader Sir Keir Starmer addressed the audience at London Tech Week, an annual event expected to attract over 45,000 delegates from around the world.
“Absolutely humiliated” by exclusion
Ms Schonle, 40, shared her experience in a widely circulated post on LinkedIn, where she expressed her disappointment and frustration.
“I hate that I’m having to write this,” she said. “Today I was refused entry at London Tech Week… because I had my baby with me. It’s a three-hour drive one way for me to come to London. At this stage, I limit how many hours I am away from my baby girl.”
She added that the trip was as much about exposing her daughter to new environments as it was about attending meetings and networking for her business.
“I should be able to build my company with her by my side,” she wrote. “This moment was more than inconvenient. It was a clear reminder that, as a tech industry, we still have work to do when it comes to inclusion beyond buzzwords.
Calls for greater inclusivity in tech
Schonle, who is developing a conversational AI platform for corporate training through her company Humanvantage AI, had reportedly scheduled three meetings with potential suppliers at the event. She said the incident highlighted broader issues around inclusivity in the tech sector.
“Parents are part of this ecosystem. Caregivers are innovators, founders, investors, and leaders,” she wrote. “If major events like London Tech Week can’t make space for us, what message does that send about who belongs in tech?”
She stopped short of calling for all industry events to become family-friendly but questioned whether a more inclusive approach would be more reflective of the future. “Doesn’t our future belong to the kids?” she added.
Speaking to The Times, she said she was left feeling “angry” and “humiliated” by the experience.
Support from peers in the industry
Ms Schonle’s LinkedIn post received widespread support from within the tech and business communities. Rebecca Taylor, an expert in cyber threats and human intelligence who delivered a TED talk in 2023, replied: “The juggle is real… If you’re doing your best to make life happen and be part of the conversation, other individuals and communities should be empowering you to do that.”
Janthea Brigden, ambassador for Children at Events, described the situation as “humiliating” and said it made her feel like a “non-person”.
The incident comes amid ongoing discussions around gender equality and representation in tech. According to a recent Tech Nation report, women make up only 26 per cent of the UK’s tech workforce. That figure is even lower in technical roles.
Event organiser responds
In response to the backlash, organisers of London Tech Week issued a statement acknowledging the incident.
“We’re aware that one of our attendees wasn’t allowed to enter with their child yesterday,” a spokesperson said. “As a business event, the environment hasn’t been designed to incorporate the particular needs, facilities and safeguards that under-16s require.
The incident occurred on the same day Labour leader Sir Keir Starmer addressed the audience at London Tech WeekGetty Images
“We want everyone in the tech community to feel welcome at London Tech Week. We’ve reached out directly to the person involved to discuss what happened and use this experience to inform how we approach this at LTW in the future.”
The statement did not confirm whether the policy would be reviewed ahead of future events.
Focus on diversity and inclusion
The incident has highlighted the ongoing challenges faced by women and caregivers in tech. While many conferences and corporate events have begun to introduce parent-friendly policies, others have maintained restrictions due to insurance, health and safety, or logistical concerns.
Ms Schonle’s experience has sparked renewed conversation about how events can support greater accessibility without compromising core operations. Her comments also underline the gap between diversity targets and the real-life barriers still faced by many working mothers in tech.
As London Tech Week continues throughout the week, the discussion around inclusivity and parenthood is likely to remain in the spotlight. Whether changes will be implemented in future editions of the event remains to be seen.
ELON MUSK’S Starlink has received a licence to launch commercial operations in India from the telecoms ministry, two sources told Reuters last Friday (6), clearing a major hurdle for the satellite provider that has long wanted to enter the south Asian country.
The approval is good news for Musk, whose public spat with president Donald Trump threatens $22 billion (£16.3bn) of SpaceX’s contracts and space programmes with the US government. Starlink is the third company to get a licence from India’s Department of Telecommunications, which has approved similar applications by Eutelsat’s OneWeb and Reliance Jio to provide services in the country.
Starlink and the Department of Telecommunications did not immediately respond to a request for comment.
The sources declined to be named because of the sensitivity of the matter.
Musk met prime minister Narendra Modi during his visit in February to the United States, where the two discussed Starlink’s launch plans and India’s concerns over meeting certain security conditions.
Starlink has been waiting since 2022 for licences to operate commercially in India, and although it has cleared a major hurdle, it is a long way from launching commercial services.
It still needs a separate licence from India’s space regulator, which Starlink is close to securing, said a third source with direct knowledge of the process without giving details.
Starlink will then need to secure spectrum from the government, set up ground infrastructure and also demonstrate, through testing and trials, that it meets the security rules it has signed up for, one of the two sources said.
“This will take a couple of months at least and will be a rigorous process,” said the person, adding that it can only begin selling its equipment and services to customers once it gets an all clear from Indian security officials.
Indian telecom providers Jio and Bharti Airtel, in a surprise move in March, announced a partnership with Musk to stock Starlink equipment in their retail stores, but they will still compete on offering broadband services.
Musk and billionaire Mukesh Ambani’s Jio clashed for months over how India should grant spectrum for satellite services. India’s government sided with Musk that spectrum should be assigned and not auctioned.
India’s telecom regulator in May proposed satellite service providers pay four per cent of their annual revenue to the government for offering services, which domestic players have said is unjustifiably low and will hurt their businesses.
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Bestway began its anniversary year in January with its annual ‘Thank You’ campaign, offering deals on products in-store and online.
BESTWAY Wholesale is marking its 50th anniversary in 2025. Founded in 1975, the company opened its first warehouse in Acton, West London, and has since grown into one of the UK’s largest independent wholesalers.
The business was started by Sir Anwar Pervez. He was awarded a knighthood in 1999 for his contributions to the food wholesale sector. Under his leadership, Bestway achieved £12 million in turnover within its first 18 months, launched the best-one symbol group in 2002, acquired Batley’s in 2005, Costcutter Supermarkets Group in 2020, and Adams Foodservice in 2024.
Managing Director Dawood Pervez said: “It’s incredible to reflect on how far we’ve come – from modest beginnings to becoming one of the UK’s leading wholesalers. This milestone – celebrating half a century in business – is a testament to the hard work, integrity, and entrepreneurial spirit that runs through the business.
“My father’s vision was simple but powerful: to offer greater value through lower prices and better availability – a mission that remains at the core of everything we do today.
“He created a business that is an engine for social mobility and an opportunity for migrant communities seeking to build a life in the UK – offering them purpose, a path to prosperity, and the chance to add lasting value to British society.”
The business was started by Sir Anwar Pervez.getty images
Pervez added: “Thanks to the vision of my father and his family partners, the business rapidly grew through both organic development and strategic acquisitions. Today, we are proud to be the 7th largest family-owned business in the UK and the 13th largest privately owned company.”
Bestway began its anniversary year in January with its annual ‘Thank You’ campaign, offering deals on products in-store and online. It includes 50 weekly trade campaigns with offers, discounts, competitions and promotions. These will conclude in December with a Christmas-themed promotion featuring 50 one-day festive deals.
A celebration event is scheduled for July at the Royal Albert Hall, hosted by Sir Anwar Pervez and Lord Choudrey. Supplier partners supporting the campaign include Coca-Cola Euro Pacific, Cadbury’s, Red Bull, Carlsberg, Heineken, Mars Wrigley, Walkers, Budweiser Brewing Group, and others.