IT secretary S Krishnan yesterday reportedly said that the government plans to examine the Economic Survey’s suggestion for age-based access for social media and other digital platforms. As per news agency PTI, Krishnan said that the Centre will examine all the opinions and take a call on the matter.  “You have seen what the Economic Survey has to say. A number of views are being expressed. We will examine all the views and take a call,” Krishnan reportedly said while responding to a question on whether the Centre is considering an Australian-like ban to block children from accessing social media platforms.  This comes after the Economic Survey last week urged the Union government to consider gatekeeping social media, while also cutting down online teaching to avoid digital addiction. The Survey, tabled in Parliament, had said online platforms should be made responsible for enforcing age verification, and simpler devices should be promoted for children to access educational content with safeguards to address the rising problem of digital addiction.  “Policies on age-based access limits may be considered, as younger users are more vulnerable to compulsive use and harmful content. Platforms should be made responsible for enforcing age verification and age-appropriate defaults, particularly…  ​Read MoreInc42 Media

D2C fragrance brand EM5 has secured an undisclosed investment from Indian cricketer Suryakumar Yadav. The startup has also onboarded Kumar as a partner in the company.  In a statement, EM5 said that the partnership is “rooted in strong audience alignment and shared sensibilities”.  “EM5 is a young, homegrown brand that’s genuinely committed to changing the fragrance game in India, and I’ve always loved how scent becomes a part of your everyday identity… As an investor and partner, I’m excited to be part of a journey that’s building something authentic, digital-first, and rooted in India,” said Yadav.  Founded in 2022 by Shashank Chourey, EM5 is a D2C brand that sells a range of products such as perfumes, roll-ons, foot sprays, scented candles and beard balms. The startup sells its products via its own website, online marketplaces and quick commerce platforms.  EM5 also featured on the 2025 edition of Inc42’s FAST42 list.  The D2C brand clocked a revenue of INR 7.08 Cr in the fiscal year 2023-24 (FY24), up 4X from INR 1.43 Cr in the year-ago fiscal.  The bootstrapped startup last year told Inc42 that it was working to establish a stronger presence in select retail and experiential spaces to improve…  ​Read MoreInc42 Media

Fashion ecommerce major Myntra is laying off employees as part of a consolidation exercise, which aims to move its Gurugram-based satellite operations to Bengaluru. Sources told Inc42 that the company aims to relocate certain roles into larger teams based out of Bengaluru, while some jobs will be phased out. The relocation and retrenchments will impact 50 employees of the company’s Gurugram-based catalogue team.  A source close to the company said that the move is aimed at centralising teams, streamlining internal processes and improving coordination. The Walmart-backed marketplace plans to offer severance pay, outplacement services and extended insurance cover to the impacted employees, added the source.  The source said that the relocation and layoffs are unrelated to AI implementation or performance considerations. Inc42 has reached out to the company for a comment on the  development. This story will be updated upon receiving their response. Founded in 2007 by Mukesh Bansal, Ashutosh Lawania and Vineet Saxena, Myntra is an online marketplace which allows third-party sellers to sell their fashion products such as apparels and other accessories. The Bengaluru-based startup was acquired by Flipkart for $240 Mn in 2014. The fashion ecommerce arm of Flipkart’s net profit zoomed about 18X to INR 548…  ​Read MoreInc42 Media

The government has expanded the scope of startup definition to include deep tech startups with a recognition period of up to 20 years and a turnover limit of Rs 300 crore.In a gazette notification from the Department for Promotion of Industry and Internal Trade (DPIIT) said, “in the case of an entity recognised as a Deep Tech Startup under this notification, such entity shall cease to be a Deep Tech Startup on completion of twenty years from the date of its incorporation or registration, or if its turnover for any previous year exceeds three hundred crore rupees.”This notification comes into immediate effect, but for the non-deep tech startup, the categorisation remains the same, i.e., for a period of 10 years anda turnover limit of Rs 200 crore.The definition of deep tech, according to the government, is that it is working on producing a solution based on new knowledge/advancements within a scientific or engineering discipline or multiple disciplines, which is yet to be developed or is in the process of being developed. It has a high percentage of expenditure on research and development (R&D) activities as a percentage of revenue/funding. It owns or is in the process of creating significant novel…  ​Read More​YourStory RSS Feed