ITV News
Instamart sees 45x surge in Akshaya Tritiya demand
Gold jumps 49x, silver 24x as quick commerce drives festive buying.
MUMBAI: From adding to cart to adding to culture, festive gold buying just got a same-day delivery upgrade. Instamart reported a sharp spike in demand on Akshaya Tritiya, with overall orders surging 45x on April 19 as shoppers turned to quick commerce for everything from gold coins to groceries. The biggest sparkle came from gold, which saw a 49x jump in demand, while silver followed with a 24x increase. Smaller denominations dominated gold purchases, with 1g, 2g and 0.5g coins emerging as the most popular picks suggesting that affordability continues to shape festive buying as much as tradition.
Silver, however, played a different game. Larger ticket sizes led the charge, with 10g, 5g and 20g bars topping the charts. In one standout order from Bengaluru, a single shopper added Rs 1.65 lakh worth of silver bars to their cart in one go, underlining how the metal is increasingly being seen as both a gifting and investment option.
Adding a strategic twist to the gold rush, Instamart introduced a Price Lock feature that allowed users to secure pre-festive gold rates between April 10 and April 16, with redemption on April 19 at the lower of the locked or prevailing market price. Nearly 40 per cent of total demand came from these pre-booked orders, indicating a growing appetite for price-sensitive, tech-enabled buying.
Perhaps the most telling trend, however, lay in what else went into the cart. The largest order of the weekend worth Rs 1,99,917 combined Rs 1.65 lakh in silver bars and Rs 31,800 in gold coins with everyday items such as soft drinks, ice cubes, Alphonso mangoes, a water dispenser and even a smartwatch. The modern festive basket, it seems, is no longer confined to jewellery counters.
Metro cities led the charge, with Bengaluru, Mumbai, Hyderabad, Delhi, Chennai, Pune, Gurgaon, Kolkata and Noida driving the bulk of demand highlighting how urban India is increasingly blending tradition with convenience.
As quick commerce platforms continue to expand beyond essentials, Akshaya Tritiya offered a glimpse of the future: where buying gold is no longer a planned outing, but just another tap away.
ITV News
Amazon nears $9bn Globalstar deal to boost satellite push: Report
Talks signal push to rival Starlink as spectrum and scale come into play
NEW YORK: Amazon is in advanced talks to acquire satellite telecom firm Globalstar in a deal reportedly valued at around $9 billion, according to a report by Bloomberg, signalling a major push to strengthen its space-based connectivity ambitions.
If finalised, the deal would give Amazon immediate access to Globalstar’s satellite infrastructure, including dozens of low Earth orbit satellites and more than 20 ground stations worldwide. It would also bring valuable wireless spectrum, particularly the L-band and S-band frequencies, into Amazon’s fold, assets considered critical for enabling direct-to-device satellite communication.
The move is widely seen as a strategic shortcut for Amazon’s Project Kuiper, which has faced delays due to limited rocket launch capacity. By acquiring an operational network, Amazon could effectively bridge the gap between development and deployment, accelerating its entry into the fast-growing satellite connectivity market.
The acquisition would also sharpen Amazon’s competitive edge against SpaceX and its Starlink service, which currently dominates the low Earth orbit satellite internet space. With Globalstar’s reported base of over 800,000 subscribers, Amazon could quickly scale its presence and move closer to offering seamless connectivity, even in remote or underserved regions.
However, the deal is not without complications. Apple, which holds an estimated 20 per cent stake in Globalstar, could play a pivotal role in shaping the outcome. The iPhone maker currently relies on Globalstar’s satellites for its Emergency SOS via satellite feature, raising questions about how existing partnerships would be managed in the event of a takeover.
Beyond the immediate deal, the potential acquisition underscores a broader shift in the space economy. What was once an experimental frontier is rapidly consolidating, with tech giants racing to build integrated ecosystems that combine satellites, spectrum and services.
For consumers, the implications could be significant. Increased competition may accelerate the rollout of satellite-enabled mobile connectivity, bringing the promise of always-on coverage closer to reality.
For Amazon, the message is clear. The race to connect the planet is heating up, and it is looking to move from playing catch-up to setting the pace.
