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India to Withdraw Pakistan’s ‘Most Favoured Nation’ Status

The Ministry of Commerce will issue the necessary communication in this regard, Jaitley added.

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Arun Jaitley
Jaitley said that the CCS observed a two-minute silence for those who made the ultimate sacrifice and expressed their condolences to the bereaved families. Wikimedia

Union Minister Arun Jaitley on Friday said that the government has decided to withdraw the “Most Favoured Nation” status given to Pakistan, in the wake of the worst-ever terror attack in Jammu and Kashmir a day ago when a CRPF convoy in Pulwama was rammed into by an explosive-packed SUV that has left 45 troopers dead.

The decision was taken at a meeting of the Cabinet Committee on Security (CCS) chaired by Prime Minister Narendra Modi after the suicide attack on Thursday that proved to be the most devatating since militancy erupted in 1989.

Speaking to the media after the meeting, Jaitley said: “The most favoured nation status which has been granted to Pakistan stands withdrawn.”

Arun Jaitley
“The most favoured nation status which has been granted to Pakistan stands withdrawn.” Pixabay

The Ministry of Commerce will issue the necessary communication in this regard, he added.

“The Ministry of External Affairs (MEA) will initiate all possible steps, and I am referring to all diplomatic steps, which are to be taken to ensure the complete isolation from the international community of Pakistan of which incontrovertible evidence are available of having the direct hand in this gruesome terrorist attack,” Jaitley said.

The MEA in due course will keep you informed with regard to steps taken, he added.

Jaitley said that the MEA would also engage with the international community to make sure that the Comprehensive Convention on International Terrorism which has been pending for over three decades with the UN, particularly because of the definition of the word terrorism, must be adopted at the earliest.

 

Arun Jaitley
“The most favoured nation status which has been granted to Pakistan stands withdrawn.”, says Jaitley. Pixabay

Besides Modi and Jaitley, External Affairs Minister Sushma Swaraj, Home Minister Rajnath Singh and Defence Minister Nirmala Sitharaman were also present at the meeting.

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Jaitley said that the CCS observed a two-minute silence for those who made the ultimate sacrifice and expressed their condolences to the bereaved families. At least 38 others continue in hospitals with injuries in the attack that has left the security establishment stunned.

He said the CRPF of course will make detailed arrangement with regard to transporting the bodies of the deceased to their families. (IANS)

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Sony Mobile Exit India Market Owing to Hyper- Competition

Sony Mobile would continue to monitor the market situations and business feasibility in the country

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Sony Mobile, India
the pressure from Chinese brands and Samsung in the major price segment resulted in continuous decline of sales for Sony. Pixabay

Facing stiff competition from Chinese and South Korean players, Japanese conglomerate Sony Corporation has announced to quit the Indian smartphone market.

Sony had less that 0.01 per cent of the total Indian smartphone market share in the first quarter of 2019, according to Counterpoint Research.

Sony Mobile, however, said that it would continue to monitor the market situations and business feasibility in the country.

“Our focus markets are Japan, Europe, Hong Kong and Taiwan to drive profitability and future prospects in the 5G era,” Sony Mobile said in a statement on Wednesday.

Sony Mobile, India, Market
Sony Corporation has announced to quit the Indian smartphone market. Pixabay

“We have ceased sales in Central and South America, the Middle East, South Asia, Oceania, etc. in FY 18,” it added.

The company assured that it would continue its customer support operations including after sales support and software updates for existing customers in India.

The India smartphone market is currently dominated by Chinese players like Xiaomi, OPPO, Vivo and OnePlus among others, besides South Korean tech giant Samsung.

According to Shobhit Srivastava, Research Analyst, Mobile Devices and Ecosystems, Counterpoint Research, the pressure from Chinese brands and Samsung in the major price segment resulted in continuous decline of sales for Sony.

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“With declining sales in India and other markets, Sony took the right decision to focus on the high ASP (average selling price) markets such as Japan,” Srivastava told IANS.

Sony India in July last year brought its flagship “Xperia XZ2” smartphone for Rs 72,990 to India that turned out to be its last launch.

“In a cut-throat market like India where Chinese smartphone brands rule the roost with industry-leading specs and having over 60 per cent market share, it’s tough for other brands to garner a meaningful revenue share. Sony has had a very miniscule market share in India,” Prabhu Ram, Head, Industry Intelligence Group (IIG), CMR, told IANS.

For Sony, the performance of its mobile business has lacked the sheen, and has been a clear outlier compared to its other divisions.

Sony Mobile, India, Market
Sony had less that 0.01 per cent of the total Indian smartphone market share in the first quarter of 2019. Wikimedia Commons

“It makes sense for it to cut its losses and refocus on other verticals,” Ram added. (IANS)