After Chennai, it is Coimbatore, Madurai, and Tiruchirappalli, that are emerging as manufacturing hubs. Coimbatore is India's top Tier-II city in terms of the number of GCCs, according to a report by Cushman & Wakefield.
For India to transform into a high-income country with a projected gross domestic product (GDP) of $23-35 trillion, will need a sustained annual growth of 8 per cent to 10 per cent. This will be powered by India's demographic dividend, technological innovation, and sectoral transformation, according to the "India@2047: Transforming India Into A Tech-Driven Economy" report by Bain & Company and Nasscom. By 2047, the services sector is expected to contribute 60 per cent of India's GDP, while manufacturing will account for 32 per cent, both playing a pivotal role in economic expansion.
US tech giant IBM is betting big on the India growth story and plans to open more software development centres in the country as it looks to partner with the government in its digitisation journey, its chairman and CEO Arvind Krishna said on Friday. On a visit to India, Krishna met Finance Minister Nirmala Sitharaman, Telecom Minister Ashwini Vaishnaw and Minister of State for IT Rajeev Chandrasekhar to discuss deeper collaboration including skilling and workforce development. The firm that originally designed the technology and system behind ATMs, barcodes and the US social security net, is greatly enthused with the speed at which the Indian government is willing to make decisions and where it is moving, he told a select media briefing.
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
Indian Oil Corporation Ltd will start manufacturing fuel used in F1 racing in three months' time.
Minister of State for Electronics and IT Rajeev Chandrasekhar said the government has asked Apple two questions: whether their devices are safe, and if so the reason for the alert was sent to the Opposition members.
'The aim is also to probe how the ministry and testing agencies made negligence in examining these OEMs, so that such negligence is avoided in the future.'
The government should take measures to promote innovation and R&D while simplifying regulations for the sector in the upcoming Union Budget, as per pharmaceutical industry bodies. Outlining the wish list for the sector in the upcoming Union Budget, Indian Pharmaceutical Alliance (IPA) secretary general Sudarshan Jain said the domestic pharma industry is currently around $50 billion in size and aspires to grow to around $130 billion by 2030 and $450 billion by 2047. "To achieve this vision, the Union Budget 2023-2024 should help fuel innovation and R&D, which will set the pace for propelling the pharmaceutical industry forward," he told PTI.
Niclosamide, a drug on the World Health Organisation's list of essential medicines, has been used to treat tapeworm infestation for more than 50 years. The oral antiviral drug was also used to treat patients during the SARS outbreak of 2003-04.
Addressing ministers and ambassadors of various countries, including Japan and Canada, who's who of India Inc and delegates from 120 nations and several Indian states, Modi said the summit would seek to introduce a feeling of togetherness in socio-economic activities.
200 engineers may join its Bengaluru R&D centre.
Hindustan Motors Ltd is planning to launch a new-age hatch-back version of the iconic Ambassador car.
A World Bank report says that in comparison to 708 R&D researchers per million population in China, the number was a dismal 119 in India in 2004. While the same is 3,319 in Russian Federation, in Brazil the number of researchers per million population is a much better 344.
The Indian pharma industry is estimated to grow at 9-11 per cent in 2021-22 and in the next few quarters, it will be driven by domestic and emerging markets, according to ratings agency ICRA. In a sample of 21 Indian pharmaceutical companies, ICRA said revenue growth was moderate at 6.4 per cent in the second quarter of FY22, down from 16 per cent in the first quarter of 2021-22. The normalisation of the base and pricing pressures in the US market were the major reasons for slowing growth momentum in Q2 FY22, even as growth under domestic and emerging markets remained healthy, ICRA said in a statement.
Microsoft, which spends nearly $7 billion annually for product innovation and research, is already present in the country with two research centres--in Hyderabad and Bangalore. The Hyderabad centre, established as early as 1998 and known as Microsoft India Development Center, has nearly 1,400 developers, who are working on more than 50 different Microsoft projects.
The number of forms to be filled to operate drones in the country have been reduced to six in draft 'Drone Rules, 2021' in comparison to 25 forms mentioned in the Unmanned Aircraft System (UAS) Rules, 2021, it said.
In his address to RIC Foreign Ministers, Wang said the three countries should 'correctly handle and properly deal with sensitive factors in bilateral relations and safeguard the overall interests of mutual relation', without directly referring to the current round of India-China military tensions along the Line of Actual Control, (LAC).
'If we go in the same direction as them, we cannot expect a different result from them.' 'Our fall is going to be very swift.' 'Within a decade, we can expect the situation to change for the worse.'
Mercedes Formula One boss Toto Wolff has dismissed plans for the world's first driverless motor racing series as having little to do with sport, despite the German carmaker's interest in the technology.
The price of the new Sumo will be between Rs 650,000 and Rs 10 lakh.
GE Healthcare has already filed five global patents for its design.
JLR, Tata Steel Europe CEOs caution staff on high risks of leaving the EU
Sunak announced that the Immigration Health Surcharge (IHS) would be hiked from 400 pounds to 624 pounds.
Company signs MoU with state for its three-year plan; ties up with Subhash Ghai firm for content creation
Indian cos or academic institutions accounted for only 1,394 patent cooperation treaty applications
'It is a gradual process of saying we want to have all the decisions across business sectors available in India as well.'
Analysts say it is a case of over-promise and under-delivery.
Sohini Das chats with MD of Zydus Cadila Healthcare Pankaj R Patel & his son Sharvil Patel.
