India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
New Delhi: India's Global Capability Centres (GCCs) have flourished on the back of robust infrastructure, business-friendly reforms and a deep talent pool but sustaining this momentum will require more work, Department of Economic Affairs (DEA) secretary Anuradha Thakur said on Monday. A targeted policy push, deeper Centre-state coordination and curriculum upgrades were among tasks lying ahead. Speaking at the CII (Confederation of Indian Industry) GCC's Business Summit, Thakur said the core drivers of India's rise as a global hub for GCCs included strong physical and digital infrastructure, the Digital India mission, and a decade of regulatory reforms aimed at streamlining approvals, taxation, and compliance. These interventions laid the foundation for India's dominance in the space, with over 1,800 GCCs now operating in the country, she said. "Over the years initiatives like streamlined tax regulations, compliance procedures, all of this together, have built up this segment," she added. Thakur also emphasized the need to study state-level success stories, particularly Karnataka, Tamil Nadu and Telangana, to understand what early policy and infrastructure choices helped attract GCCs. "Whether we need to replicate these models or enhance them further is something we need to deliberate today. Perhaps a bit of both," she said. The rapid expansion of GCCs into engineering, research and development (R&D), artificial intelligence (AI), and emerging technologies underscores the need for curriculum reform, Thakur added. She also suggested the introduction of specialized engineering courses in ITIs and greater alignment between industry needs and academic training. Highlighting that India's demographic advantage continues to play a critical role, with 2.1 million STEM (science, technology, engineering and mathematics) graduates emerging annually, over 35% female participation in the sector, and a median workforce age of 28, she added that the talent pool needs better integration into national skilling initiatives. Citing her experience in the ministry of corporate affairs, Thakur said programmes like the PM Internship Scheme suffered from slow uptake by the GCC sector due to delayed decision-making, despite their potential for mutual benefit. "Unfortunately, the GCCs could not participate to the extent that we had expected, and we found the decision-making probably could have been faster," she added. Thakur also flagged the importance of geographic diversification beyond traditional metro hubs, suggesting that many tier-2 cities with rich talent pools could become cost-effective alternatives with the right infrastructure and state support. "Many of the states where we have a bulk of talented human resources, probably don't have the bulk of the GCCs, which could be there, which could be another way of (being) competitive on cost," she added. As more global players, from beyond the US, look to India as a GCC destination, Thakur called for broader international outreach to attract newer businesses and investment. She added the need to step up outreach to countries exploring GCC destinations and underscored the need for closer government-industry partnerships to shape supportive policy frameworks.
New Delhi [India], January 8 (ANI): The upcoming union budget 2025-26 should focus on giving personal tax relief to common taxpayers by raising the basic exemption limit in the new tax regime from Rs 3 lakhs to Rs5 lakhs and reducing tax rates, suggests global consulting and professional services firm Ernst & Young India (EY India). EY India also asks for deferring tax deduction at source (TDS) on PF interest rate (above 2.5 lakhs) until the withdrawal stage to reduce compliance burden. In the previous budget TDS rate rationalization was undertaken to a certain extent. To further simplify th ...Read More >
CHITTOOR (Andhra Pradesh): The Apollo University, Apollo Hospitals and University of Leicester, United Kingdom, have partnered to establish the Centre for Digital Health and Precision Medicine (CDHPM) at The Apollo University campus in Chittoor, Andhra Pradesh. The advanced research center will bring together the expertise and resources of both institutions to create a global hub for digital health and precision medicine. The CDHPM will be the hub in Chittoor, India. The hub at the University of Leicester will be based at the BHF Cardiovascular Research Centre at Glenfield Hospital, Leicester ...Read More >
Business Wire India L&T Technology Services (BSE: 540115, NSE: LTTS), a leading global engineering and technology services company, has unveiled its state-of-the-art Engineering Design Center in Plano, Texas. This investment underscores LTTS' commitment to delivering advanced solutions in AI & Tech and establish more near shore centers tailored to the evolving needs of our clients. As an ITAR-compliant facility, the center is equipped to design, develop, and test defense-related products and systems. The new design hub will also focus on advanced cybersecurity solutions, including a Security ...Read More >
CHENNAI: Hyundai Motor Group has partnered with three Indian Institutes of Technology (IITs) to establish a collaborative research system in the fields of batteries and electrification. The three institutes are IIT Madras, IIT Delhi and IIT Bombay. The Hyundai Centre of Excellence (CoE), which will be set up on IIT Delhi campus, will operate through sponsorships from Hyundai Motor Group. The primary objective of the Hyundai CoE is to take the lead in driving advancements in batteries and electrification, specifically designed to meet the unique requirements of the Indian market. Hyundai Mo ...Read More >
NEW DELHI: Recognizing the potential and challenges of AI, the Government of India constituted an advisory group, chaired by Principal Scientific Advisor Prof. Ajay Kumar Sood, to undertake the development of an 'AI for India-Specific Regulatory Framework'. Under the guidance of the Advisory Group, a sub-committee on 'AI Governance and Guidelines Development' will provide actionable recommendations for AI governance in India. The sub-committee's report on AI Governance, now published for public consultation, aims to guide the development of a trustworthy and accountable AI ecosystem in India. ...Read More >
New Delhi, Jun 5 (PTI) Fintech firm BimaPay Finsure on Thursday said it has entered into corporate insurance financing and aims for Rs 20 crore in premiums in 2025-26. Launching the pilot phase with insurance partners, BimaPay said the initiative will allow businesses to pay premiums in easy equated monthly instalments (EMIs) instead of bearing the burden of full upfront costs. Also Read | Who Is Pinaki Misra? From Age to Family Background and Net Worth, Here's All About BJD Leader With Whom Mahua Moitra Reportedly Married. The company aims to finance over Rs 20 crore worth of premiums by t ...Read More >
Trial conducted over a 118 km Boston metro route with 10 network hops and nine ROADMs. US wireless carrier Verizon has successfully tested the transportation of 1.6 terabits per second of data across a single wavelength on its live metro fiber network. Utilising Ciena's WaveLogic 6 Extreme (WL6e) coherent optical solution, the trial, conducted in Boston, demonstrated data travelling farther and faster across Verizon's fiber network. This upgrade enhances the network's ability to handle the workloads generated by artificial intelligence (AI) applications, particularly Generative AI, according ...Read More >
New Delhi, Dec 3 (PTI) Finance Minister Nirmala Sitharaman will commence customary pre-Budget consultations with various stakeholders beginning Friday. As part of the process, she will meet eminent economists on December 6 to seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent recorded in the second quarter of the current financial year. It will be followed by a meeting with farmer associations and agriculture economists and stakeholders in MSME sector scheduled for December 7, sources said. Union Budget 2025-26 is likely to be tabled in Parliament o ...Read More >
Haridwar: A woman politician has been arrested for allegedly letting her boyfriend and others repeatedly rape her 13-year-old daughter in Haridwar, Uttarakhand. The horrifying crime, which occurred between January and March, was exposed when the minor bravely confided in her father, prompting a police investigation that led to the arrest of the accused. The accused was arrested with her boyfriend and one more. According to police reports, the minor was gang-raped multiple times, often in the presence of her mother. The minor, who had been living with her father following her parents' separat ...Read More >
New Delhi: Three Indian citizens vanished mysteriously in Tehran. Darkness closed in as hope seemed lost. A ruthless Pakistani gang with potential links to ISI snatched them away, casting a shadow of fear. But relentless Indian diplomats refused to back down. Against all odds, a daring rescue mission ignited. Now, the captives are free, and a chilling game of espionage comes to light. The Punjab-based trio - Amritpal Singh from Hoshiarpur, Jaspal Singh from SBS Nagar and Hushnapreet Singh from Sangrur - had landed in Iran on May 1. Promised a clandestine route to Australia via Dubai and Tehra ...Read More >
As a part of the new agreement between Mazagon Dock and BEML, Mazagon Docks will make facilities available to BEML's research team in exchange for their technical support to design and manufacture strategic equipment, reported PTI. The government-owned BEML Ltd. (formerly known as Bharat Earth Movers Ltd) announced on Wednesday, November 27, that it has signed an agreement with Mazagon Dock Shipbuilders to develop technologies for the marine industry, news agency PTI reported. According to the company statement cited by the agency, the company aims to leverage the opportunity to expand its e ...Read More >
New Delhi [India], December 4 (ANI): The GSEC in Hyderabad will be the first of its kind in the APAC region after Tokyo and only the fifth globally, with similar facilities in Dublin, Munich, and Malaga, according to a statement. This GSEC is a specialised international cybersecurity hub designed to play a crucial role in developing advanced security and online safety products tailored for the Indian context. The centre will focus on cutting-edge research, AI-driven security solutions, and creating a collaborative platform for leading experts and researchers in cybersecurity. It also aims to ...Read More >
Thiruvananthapuram: In his budget for 2025-26, Finance Minister K N Balagopal emphasised on technology, research, jobs, and education, positioning the state as a knowledge powerhouse. Here are key allocations and initiatives that could fuel the state's knowledge economy vision. Technology & AI * Rs 10 crore for establishing a world-class GPU cluster in Thiruvananthapuram to develop AI and AVGC (Animation, Visual Effects, Gaming, and Comics) industries. Unlike a CPU (Central Processing Unit), optimised for sequential tasks, a GPU (Graphics Processing Unit) excels at parallel processing, maki ...Read More >
New Delhi, June 5 (SocialNews.XYZ) Aadhaar number holders executed over 211 crore authentication transactions in May this year taking the cumulative number of such transactions to more than 15,223 crore since inception, according to a statement issued by the Ministry of Electronics & IT on Thursday. The May authentication transactions are more than the previous month, as well as of May 2024 when 201.76 Cr such transactions were carried out. The growing number shows, how Aadhaar-based authentication has been playing a facilitating role in effective welfare delivery, and voluntarily availing v ...Read More >
Silchar: Assam chief minister Himanta Biswa Sarma on Friday visited the flood-ravaged districts of Hailakandi and Sribhumi in the Barak Valley. He assured affected residents of providing timely disbursement of rehabilitation grants and swift repair of damaged infrastructure.This marks Sarma's second visit to the flood-hit region within four days, underscoring the gravity of the situation. Speaking to the media in Sribhumi after inspecting multiple relief camps, the CM said, "Flood-related problems may persist till July. I will return before Durga Puja to ensure that roads and infrastructure ar ...Read More >
Gandhinagar (Gujarat) [India], June 7 (ANI): Gujarat Chief Minister Bhupendra Patel, while inaugurating the new Development Center of Infosys at GIFT City, reaffirmed the State Government's commitment to advancing the AI industry by implementing artificial intelligence-based systems across the state. He stated that the establishment of an AI Centre of Excellence at GIFT City is aimed at creating a unified platform that brings together solution developers, experts, professionals, and startups under one roof. Also Read | Latur Shocker: Man Kidnaps Woman's Child for Rejecting His Proposal for A ...Read More >
Vijayawada: Chief Minister Nara Chandrababu Naidu has announced that with the support from NVIDIA for curriculum and training, 10,000 engineering students will receive skill training in the next two years. Naidu said in a post on 'X' on Saturday, "Andhra Pradesh is welcoming bold initiatives to lead India's AI revolution. Under the leadership of Minister for IT Nara Lokesh, we have entered into an MoU with NVIDIA to build a strong and inclusive AI ecosystem in the state. As many as 500 AI startups from AP will gain access to its Inception Programme for global exposure and key resources." "Fu ...Read More >
New Delhi [India], June 27: OPPO India's recently launched smartphone , the OPPO K13x 5G - toughest 5G smartphone in its segment--is ready to go on sale starting today on the OPPO e-store and Flipkart from 12 PM onwards. Available in two stunning finishes--Midnight Violet and Sunset Peach--the K13x doesn't just survive tough conditions, it stands out with style. It's a device that blends world-class engineering with local manufacturing strength to redefine what's possible under ₹15,000. Durable, dependable, and designed to dazzle--the K13x is built for your grind and styled for your vibe. Als ...Read More >
CHENNAI: The Chennai Metro Asset Management Limited, a joint venture of Chennai Metro Rail Limited (CMRL) and Tamil Nadu Industrial Development Corporation (TIDCO), has signed the contract for the development of a multimodal facility complex (MMFC) and the redevelopment of the Kuralagam Building at Broadway. The project to redevelop the property at a cost of Rs 566.59 crores was awarded to Bridge and Roof Company (India) Limited. The work is being executed by the Chennai Metro Asset Management Limited (CMAML) along with the Greater Chennai Corporation (GCC). As per the contract agreement sig ...Read More >
New Delhi, Jun 6 (PTI) Almost every manufacturer in India, across various segments covered in a survey, has either invested in artificial intelligence and machine learning technology or is planning to do so, a senior officer from Rockwell Automation said on Friday. While sharing details of the survey, Rockwell Automation India Managing Director Dilip Sawhney told PTI that in a survey on smart manufacturing conducted two years ago, about two-thirds of organisations said they would either have already invested in AI or planned to do so in the next 12 months or thereafter. This figure crossed th ...Read More >
Hyderabad: Chief Minister A Revanth Reddy on Thursday warned educational institutions that cases would be booked against them if drugs were found in their premises. The CM announced that the state's Anti-Narcotics Bureau would henceforth be known as Elite Action Group for Drug Law Enforcement (EAGLE) and was tasked with curbing the menace of narcotics in the state. Speaking at an event marking the International Day Against Drug Abuse and Illicit Trafficking 2025 at Shilpakala Vedika here, Reddy placed an onus on educational institutions to ensure their campuses were free of drugs. "It is the ...Read More >
India's BFSI sector is rapidly evolving with digital transformation, creating new opportunities for the youth to merge financial knowledge with tech skills. As automation, AI, blockchain, and big data reshape the industry, India’s young workforce must be equipped with specialized skills to stay competitive. Roles in data analysis, AI, and cybersecurity are growing, and companies that invest in technology and upskilling will lead the market. While government programs aim to bridge the skills gap, a collaborative approach with educational institutions and financial organizations is key to ensuri ...Read More >
New Delhi, Dec 5 (PTI) Amazon Web Services (AWS) on Thursday said it is committing up to USD 100 million in cloud credits over the next five years to help eligible educational institutions and underserved students worldwide develop and scale digital learning solutions. The programme, a part of AWS Education Equity Initiative, will grant recipients cloud credits, which function similarly to cash, allowing organisations to reduce their expenses when utilising AWS's cloud services. "At AWS, we are committed to levelling the playing field in education, ensuring learners from underrepresented and ...Read More >
New Delhi: Biopharmaceutical firm AstraZeneca on Thursday said it has expanded its global hub in Bengaluru with an investment of Rs166 crore, creating 400 jobs to boost Research and Development, global services and AI innovation. The new facility will house nearly 1,300 employees, including 400 new jobs, supporting the company's capabilities in AI-powered innovation across Research and Development, global business services, IT, and digital health operations, AstraZeneca said in a statement. "Our global hub in Bengaluru is a strategic investment that will play a vital role in advancing AstraZ ...Read More >
Umwelt.Ai has partnered with PeopleStrong to enhance employee experiences and streamline HR processes through advanced AI-driven engagement solutions. This collaboration combines Umwelt.Ai’s cutting-edge analytics and sentiment analysis with PeopleStrong’s expertise in Human Capital Management (HCM), delivering real-time insights to tackle workforce challenges. The partnership aims to boost employee satisfaction, retention, and productivity, aligning with the rapid growth of India’s employee engagement market. Umwelt.Ai’s CEO Vishal Chopra emphasized its role in fostering dynamic workplaces, w ...Read More >
NEW DELHI: Coursera, Inc., one of the world's largest online learning platforms, unveiled its annual learner trends for India, based on insights from over 27 million registered learners. This year, India surpassed Europe in the total number of learners on Coursera, highlighting the ambition and commitment of Indian learners to upskill and stay competitive in a rapidly evolving global workforce. Two key trends emerged in 2024: an unprecedented demand for GenAI learning and a growing preference for role-specific content to prepare for specific jobs. According to Microsoft's Work Trend Index 202 ...Read More >
Cloud-based testing platform LambdaTest has secured $38 million in a funding round led by Avataar Ventures, with Qualcomm Ventures also participating. The fresh funding comes after a gap of more than 30 months for the Noida and San Francisco-based startup. This latest round brings the company's total funding to $108 million, including a $45 million round in March 2022. Its early backers include Premji Invest, Peak XV, Telstra Ventures, Blume Ventures, and Leo Capital. LambdaTest was part of the ...Read More >
Hyderabad -- Phenom, an AI company specializing in HR, today announced it acquired EDGE, a leading resource management and talent mobility platform. The acquisition of the Bengaluru-based company strengthens Phenom's workforce intelligence solutions for the professional services industry and global capability centers (GCC). The sixth acquisition and addition to the Intelligent Talent Experience platform portfolio marks a significant step in Phenom's purpose to help a billion people find the right work. This acquisition demonstrates the company's expansion in the India market with its rapidly ...Read More >
Breaking from Bengaluru: A homegrown innovation team just launched the world's first unified AI advertising platform - MiQ Sigma and the results are already mind-blowing. MiQ's Bengaluru Centre of Excellence didn't just build another ad tech tool. They created MiQ Sigma, an AI powerhouse that's already delivering game-changing results for early adopters. Forget everything you know about fragmented advertising platforms. MiQ Sigma is the first AI platform to truly unify the entire programmatic ecosystem, turning chaos into clarity with lightning speed. The platform's three core innovations: ...Read More >
NOIDA, India and SAN FRANCISCO, Dec. 10, 2024 /PRNewswire/ -- LambdaTest, the leading cloud-based unified testing platform, has secured a $38 million funding round led by Avataar Ventures, with participation from Qualcomm Ventures, bringing the total funding to $108 million. This pivotal investment will accelerate LambdaTest's mission to democratize quality engineering through innovation, and redefine industry standards for web and mobile software quality through its groundbreaking innovation, KaneAI - "AI Native QA Agent-as-a-Service" platform. With 15,000+ customers including Fortune 500 an ...Read More >