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Crisis can impact India as 80% of exports to Europe takes place via Red Sea: Official | Business News
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The Red Sea shipping crisis could impact India’s exports to Europe the most as about 80 per cent of the outbound shipments to Europe takes place through the Red Sea region, the commerce and industry ministry said on Monday.
This assumes significance as India’s goods exports to the European Union (EU) have already slowed due to weakening demand in the backdrop of the Russia-Ukraine war. The EU contributes to over 15 per cent of India’s total goods exports.
Moreover, a number of environmental related trade measures such as the carbon border adjustment mechanism and EU’s deforestation law are feared to hit India’s exports going forward.
The ministry said that there has been an increase in attacks on commercial shipping vessels travelling through the lower Red Sea since mid-November and 80 per cent of India’s merchandise trade with Europe passes via Red Sea.
“The cost is increasing due to the Red Sea disruption. But ultimately it will depend on demand. The US exports are also through the Suez route. Transport charges are surging. An additional congestion surcharge is also being charged. But if the demand is robust the shipments will go.
“If they are not time sensitive products they will move. It is a global issue. Whole of commodity moves from the eastern to the western part through the Red Sea route,” commerce secretary Sunil Barthwal said at a press briefing.
The ministry said that the Red Sea region is vital for 30 per cent of global container traffic and 12 per cent of global trade and about 95 per cent of vessels have rerouted around the Cape of Good Hope, adding 4000 to 6000 nautical miles and 14 to 20 days to journeys.
“Consignment has been put on hold due to high freight and surcharges (as per EPCs). The sailing of most of the ships have been impacted and generally postponed by 2-3 weeks as the incoming ships, with longer routes, are delayed. As of now, container availability has not been seen as an issue as adequate empties are available. However, the combined impact of higher freight costs, insurance premiums, and longer transit times could make imported goods significantly more expensive,” the ministry said
Indian shipments of low value products such as agriculture and textiles to Europe are primarily expected to face the impact of disruption in the Red Sea region.
Amid deepening tensions in the West Asia region, External Affairs Minister S Jaishankar on Sunday started his two day visit. The union government is also mulling on using alternate trade routes and has asked Export Credit Guarantee Corporation (ECGC) not to raise insurance premiums amid rising cost of shipping to Europe.
The Indian Express had reported that freight rates to Europe have more than doubled due to security tension in the Red Sea region. Fears of disruptions in the Red Sea region have risen and oil prices have begun inching up ever since the US and the UK on Friday attacked Houthi rebels in Yemen in retaliation for the attacks on their commercial ships in the Red Sea region.
The commerce ministry had called an inter-ministerial meeting on Jan 17 where officials from five ministries — external affairs, defense, shipping and finance and commerce — will chalk out a plan to respond against global issues impacting Indian trade interest.
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Circle to Search: Share part of your screen!
According to recent reports, Circle to Search, a feature introduced with the Samsung Galaxy S24 series in January 2024, might soon undergo an upgrade. Initially allowing users to copy text from selected areas, it’s now rumored to include the capability to capture and share screenshots of specific screen sections.
This enhanced functionality, observed in the latest version of Circle to Search, enables users to not only copy text but also capture and share screen images. A video shared by a tipster on X showcased this update, revealing new options of Copy and Share upon selecting an area. Even adjustments to the selected region don’t remove these options, ensuring a seamless experience. Users can either copy the image to the clipboard for further editing or share it directly through various apps.
Previously, the visual lookup feature solely facilitated text copying. While Android devices offer a three-finger swipe-down gesture for quick screenshots, it captures the entire screen, necessitating subsequent cropping. This new functionality streamlines the process, allowing users to select and share specific screen sections in just two steps.
Interestingly, Google recently addressed concerns about accidental activations of Circle to Search in a podcast featuring its developers. They acknowledged the issue and assured users of an impending fix. This indicates ongoing efforts to refine the feature for a smoother user experience.
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Discounted OnePlus Nord CE 3 price in India: Check it out!
The OnePlus Nord CE 3 has recently undergone another price reduction in India, marking a significant update for potential buyers. Initially introduced to the Indian market in June 2023, this smartphone received its first price adjustment in November of the same year. The base variant, featuring 8GB of RAM and 128GB of internal storage, was notably listed at a price Rs. 2,000 lower than its launch price, signaling OnePlus’s commitment to providing competitive pricing to its customers.
The OnePlus Nord CE 3 is powered by an octa-core Qualcomm Snapdragon chipset and ships with the Android 13-based operating system. It boasts a triple rear camera setup, enhancing its photography capabilities, and supports SuperVOOC charging, ensuring rapid replenishment of its battery. The inclusion of these features positions the Nord CE 3 as a compelling option for smartphone enthusiasts seeking a balance between performance, affordability, and innovation.
The recent unveiling of the OnePlus Nord CE 4 in India marks the continuation of OnePlus’s commitment to delivering cutting-edge technology to its users. Serving as the successor to the Nord CE 3, the Nord CE 4 is expected to build upon the strengths of its predecessor while introducing new enhancements and features to further elevate the user experience.
When considering the revised pricing of the OnePlus Nord CE 3, it’s evident that OnePlus aims to make its devices more accessible to a wider audience. The reduction in price, particularly on platforms like Amazon and the OnePlus India website, presents an opportunity for consumers to acquire a high-quality smartphone at a more affordable rate.
Let’s delve deeper into the specifications and features of the OnePlus Nord CE 3 to understand its capabilities and appeal to potential buyers.
OnePlus Nord CE 3 Price in India (Revised)
The base variant of the OnePlus Nord CE 3, featuring 8GB of RAM and 128GB of internal storage, was initially launched in India at Rs. 26,999. Following its first price cut in November, the price was reduced to Rs. 24,999. Now, the same variant is available on Amazon at Rs. 22,990, representing a Rs. 2,009 reduction from its previous price. Furthermore, customers can benefit from an additional flat Rs. 2,000 instant discount on ICICI and HDFC Bank cards, bringing the effective price down to Rs. 20,990.
On the OnePlus India website, the 8GB + 128GB variant is priced at Rs. 22,999, marking a Rs. 2,000 decrease from the November price of Rs. 24,999. It is worth noting that this discount is exclusively applicable to the 128GB model, as the higher-end 256GB variant is currently listed as out of stock.
OnePlus Nord CE 3 Specifications and Features
Display:
The OnePlus Nord CE 3 boasts a 6.7-inch full-HD+ fluid AMOLED display with a resolution of 1,080 x 2,412 pixels. With a refresh rate of up to 120Hz, users can enjoy smooth and fluid visuals, enhancing their overall viewing experience.
Processor and Performance:
Powered by the Qualcomm Snapdragon 782G SoC, the OnePlus Nord CE 3 delivers robust performance and efficient multitasking capabilities. With up to 12GB of RAM and up to 256GB of onboard storage, users can seamlessly navigate between apps and store their multimedia content with ease.
Operating System:
The smartphone ships with Android 13-based OxygenOS 13.1, providing users with a clean and intuitive user interface coupled with a plethora of customization options. OxygenOS is known for its smooth performance and timely software updates, ensuring that users stay up-to-date with the latest features and security patches.
Camera:
The OnePlus Nord CE 3 features a versatile camera setup, comprising a 50-megapixel primary sensor with optical image stabilization (OIS) and electronic image stabilization (EIS) support. Accompanying this primary sensor is an 8-megapixel sensor with an ultra-wide-angle lens and a 2-megapixel macro shooter, allowing users to capture a wide range of subjects with stunning detail and clarity. On the front, the device houses a 16-megapixel sensor for high-quality selfies and video calls.
Battery and Charging:
Equipped with a robust 5,000mAh battery, the OnePlus Nord CE 3 offers ample battery life to power through a full day of usage. Additionally, the device supports 80W wired SuperVOOC charging, enabling users to quickly replenish the battery and minimize downtime.
Connectivity:
The OnePlus Nord CE 3 supports a comprehensive range of connectivity options, including 5G, 4G LTE, Wi-Fi, Bluetooth 5.2, NFC, GPS, and USB Type-C. Whether it’s streaming multimedia content, browsing the web, or staying connected with friends and family, users can rely on the Nord CE 3 to deliver seamless connectivity and performance.
Security:
For enhanced security, the OnePlus Nord CE 3 features an in-display fingerprint sensor, allowing users to conveniently unlock their device with a simple touch. This biometric authentication method adds an extra layer of protection to safeguard sensitive data and personal information.
Conclusion
In conclusion, the OnePlus Nord CE 3 offers a compelling combination of performance, affordability, and innovation, making it an attractive choice for smartphone enthusiasts in India. With its recent price reduction and competitive specifications, the Nord CE 3 presents a compelling value proposition for consumers seeking a high-quality smartphone experience without breaking the bank. As OnePlus continues to innovate and introduce new features with each iteration, the Nord CE 3 stands as a testament to the company’s commitment to delivering exceptional devices tailored to the needs of its users.
Technology News
Namma Yatri launches cab service in Bengaluru
In its largest market, Bengaluru, ride-hailing company Namma Yatri has expanded its services to include cab-hailing, marking a significant shift from its previous focus on auto rickshaws. Namma Yatri, known for pioneering a daily subscription model as opposed to the commission-based model utilized by competitors like Ola and Uber, had initially concentrated on auto rickshaws in Bengaluru. However, it now features a distinct section on its app dedicated to booking cabs in the city. Additionally, Namma Yatri already provides cab rides in Kochi and Kolkata.
The decision to venture into cab services follows Namma Yatri’s separation from its former parent company, Justpay, and comes on the heels of a reported expansion plan announced on April 1st. The move also aligns with the broader trend observed in the industry, as both Ola and Uber have recently introduced subscription-based plans for auto-rickshaw drivers on their platforms. This strategic shift towards subscription-based models, akin to Namma Yatri’s approach, as well as that of Rapido, highlights a growing preference within the industry for alternative pricing structures beyond traditional booking fees or commissions.
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