Artificial intelligence (AI), set to play a crucial role in delivering the target of a $1 trillion digital economy by 2028, about 20 per cent of India’s GDP, and the country can maximise AI’s potential to boost economic growth, drive inclusive progress and help it emerge as a global leader in public services, a new … Read more
The capex of key state governments is projected to rise by 13 per cent in the current fiscal (FY25) to Rs 6.5 lakh crore, according to a report on Wednesday. However, compared to the FY25 budget estimate (BE) of Rs 7.2 lakh crore, the latest projection falls short following a dull start to the capex … Read more
India’s Generative AI (GenAI) ecosystem saw the total number of startups surging 3.6 times, from over 66 in the first half of 2023 to more than 240 in the first half this year, a Nasscom report said on Wednesday. India now ranks sixth globally in the share of GenAI startup ecosystems among major economies. Despite … Read more
Industrial and warehousing demand witnessed 20.2 million square feet of leasing in top five cities in the January-September period, registering a 17 per cent annual growth, according to a report on Wednesday. The quarterly average space uptake has steadily increased from 5.7 mn sq ft in 2021 to 6.7 mn sq ft in 2024, indicating … Read more
Indian rupee weakened against the US dollar on Wednesday, tracking muted domestic equities and significant foreign fund outflows from the Indian capital market. Foreign institutional investors were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 1,748.71 crore, exchange data showed. Meanwhile participants are awaiting US economic data to determine … Read more
India’s semiconductor market is set to cross $100 billion in revenues by 2030, driven by government initiatives like production-linked incentive (PLI) scheme amid robust demand to build digital infrastructure across industries, according to a report on Wednesday. Mobile handset, IT and telecom segments are leading the semiconductor industry, contributing more than 75 per cent of … Read more
As Indian embarks on the journey to become a developed nation, the country needs to create 100 million jobs to meet the employment needs of the growing workforce, Tata Sons Chairman, N Chandrasekaran, has stressed. The Tata Group has also doubled down on creating more manufacturing jobs in the country, as the whole ecosystem is … Read more
India has a key role to play in making technology available in the Global South and in leading the world in fulfilling the Sustainable Development Goal (SDG) to make digital connectivity affordable across the globe, Union Commerce and Industry, Piyush Goyal, said on Tuesday. Speaking at the inauguration of the International Telecommunication Union’s (ITU) World … Read more
In a bid to showcase India’s attractiveness as an investment destination and boost bilateral trade ties, Union Finance Minister Nirmala Sitharaman is set to embark on an official visit to Mexico and the US, beginning October 16, it was announced on Tuesday. During the first leg of her maiden visit to Mexico from October 17-20, … Read more
The Indian rupee is expected to open largely unchanged on Wednesday, holding below the 84 handle amid risk-off sentiment and a slight pullback in the U.S. dollar. The 1-month non-deliverable forward indicated that the rupee will open at 84.04-84.05 to the U.S. dollar compared with 84.0375 in the previous session. The local currency on Tuesday … Read more