Google has approached the appellate tribunal NCLAT challenging the CCI's order on unfair business practices in Android mobile device ecosystem, the company spokesperson said on Friday. The Competition Commission in October slapped a steep penalty of Rs 1,337.76 crore on internet giant Google for abusing its dominant position in multiple markets in relation to Android mobile devices and ordered the internet major to cease and desist from various unfair business practices. A Google spokesperson told PTI: "We have decided to appeal the CCI's decision on Android as we believe it presents a major setback for our Indian users and businesses who trust Android's security features, and potentially raising the cost of mobile devices."
The procurement proposals were approved by the Defence Acquisition Council headed by Defence Minister Rajnath Singh, the ministry said.
'The digital economy will generate 60 to 65 million jobs by 2025, 20 million more than the 40 to 45 million existing jobs that are in danger of disappearing or getting automated,' points out T N Ninan.
Billionaire Mukesh Ambani on Monday pressed for bridging the digital divide "both among nations and within nations", saying connectivity and communications have become the fundamental rights of every person. Also, there is a need to bring back the economies around the globe. Speaking at the Qatar Economic Forum, he said it is difficult to imagine what India would have been without the 4G telecom network during the pandemic. "The digital divide must be bridged, both among nations and within nations.
'The demand for international fashion labels, particularly from tier-II cities and beyond, has seen a notable uptick.'
Households are likely to remain the primary net lenders to the economy in the coming decades.
Moving over 520,000 employees to a digital work model is no mean feat. Having done so, Tata Consultancy Services (TCS) is taking these learnings to help clients digitise their work models. Swiss Re is one such client. For the global information technology services firm with a headcount of 528,748 as of end-September, the shift to a single human resource (HR) platform started a few months before the pandemic started, when TCS moved its HR solutions to Microsoft's platform. Siva Ganesan, global head, Microsoft business unit, TCS, still remembers the early days when TCS embarked upon a move from an existing software platform to a digital medium for communications on a Microsoft Office platform.
It may not be an exaggeration to say that in the next three years, in India itself a million jobs or more might be at risk due to automation. How we leverage its benefits will determine our fate in the digital era.
Digital literacy is emerging as the professional language of 2024. It is the ability to process complex data sets, deploy critical communication technologies appropriately and validate your importance at your workplace, explains Jagdeep Kochar, managing director, Baker & Taylor India.
rediffGURU Krishna Kumar, founder and CEO of GoMoTech, offers expert advice on how to scale up in your career and life.
'Given the inherent volatility, investors should take at least a three to five-year view.'
The county's largest IT company TCS on Friday reported a 7.2 per cent jump in December quarter net to Rs 8,701 crore on a consolidated basis, and seemed to suggest the worst is behind by projecting double-digit revenue growth for FY22. The company, a cash cow for Tata Sons, saw a 5.4 per cent growth in revenue at Rs 42,015 crore for the quarter. Operating profit margin came in at 26.6 per cent despite implementing wage hikes, after consistently missing the 26-28 per cent aspirational band for many quarters.
Siemens delivered a strong margin performance and also reported high other income to beat consensus in the January-March quarter (Q2) of FY24 (the company's year-end is September 30). In addition, it has opted to demerge the energy vertical with a 1:1 award of shares in the newly demerged entity which will be listed by the end of this year (CY25).
'A credit line on UPI is going to make banks think about credit fundamentally as they digitise the credit process entirely.'
World Bank president Ajay Banga is among the Indians who have made it to the prestigious Times's list of 100 most influential people in the world released on Wednesday. Time's profile of the former Mastercard CEO, written by US Treasury Secretary Janet Yellen, said, "It's not easy to find a leader with the skill and drive to take on the monumental task of transforming an essential institution, but since becoming World Bank president last June, Ajay Banga has done just that." She said Banga comes to the World Bank after leading a global organisation through which he brought millions of unbanked people into the digital economy.
Billionaire Mukesh Ambani's Reliance Industries and Tata Group have made it to the prestigious TIME's list of 100 World's Most Influential Companies of 2024. TIME called Reliance 'India's Juggernaut'. This is the second time that Reliance has found its way into the TIME list. Jio Platforms, the firm that holds digital properties of the conglomerate, was included in the inaugural TIME 100 Most Influential Companies List of 2021. Serum Institute is the other Indian company on the list.
Developers in India now have expanded access to Google's powerful AI models with the 2 million token context window in Gemini 1.5 Pro and Gemma 2, the next generation of open models.
Billionaire Gautam Adani's group is planning to build 10 GW of integrated solar manufacturing capacity by 2027, as it looks to capture energy transition business, sources close to the company said. Adani Group currently has a solar manufacturing capacity of 4 GW. Adani Solar has a confirmed order book of over 3,000 MW in exports that are to be serviced over the next 15 months, they said, adding Adani, recently, raised $394 million for solar manufacturing from Barclays PLC and Deutsche Banks AG through a trade finance facility.
WhatsApp India head Abhijit Bose and Meta's public policy head Rajiv Aggarwal have resigned from their positions, social media major Meta said on Tuesday. The development comes within a week of Meta announcing 11,000 lay-offs across the globe. The company has given charge of Meta India Public Policy to Shivnath Thukral who is currently serving as Director of WhatsApp Public Policy in India.
Billionaire Mukesh Ambani on Wednesday pitched for using the USO Fund to subsidise smartphones for select groups to help penetrate the digital revolution and said India should make the rollout of 5G or the fifth-generation technology standard for broadband cellular networks a national priority. As much as 5 per cent of the licence fee paid by telecom operators goes to the Universal Service Obligation (USO) Fund, which was set up in April 2002 for achieving universal service objectives by providing access to telephone services in rural and remote areas and creation of infrastructure for mobile services and broadband in these areas. However, according to the CAG, less than half of the funds so collected are transferred for the said purpose.
Confident of securing a massive majority in the upcoming Lok Sabha elections, Prime Minister Narendra Modi on Wednesday outlined his vision for his next five-year term saying the Modi 3.0 government will put all its might to strengthen the foundation of 'Viksit Bharat' or a developed nation.
An initiative of Nandan Nilekani's EkStep Foundation, people+ai on Tuesday unveiled its vision for the future of Artificial Intelligence (AI) in India, dubbed 'Adbhut India' (Amazing India). It aims to harness AI as a powerful tool to enhance the lives of all Indians. The event marked the rollout of several initiatives by people+ai that are focused on discovering, demonstrating, and disseminating population-scale AI use cases for India.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Indian-American Pichai was awarded the Padma Bhushan for 2022 in the Trade and Industry category.
'At the policy's maturity, the total premium is refunded.'
'The estimated expenditure is expected to be more than double the Rs 60,000 crore spent in 2019'
Auto major Fiat Chrysler Automobiles (FCA) on Wednesday said it will invest $150 million (around Rs 1,103 crore) to set up a global digital hub in Hyderabad to help the group develop new technologies to cater to its automotive operations across the globe. The facility, which is FCA's largest digital hub outside of North America, would create nearly 1,000 jobs by the end of next year.
Telecom operator Bharti Airtel will start rolling out 5G services later this month as it signed requisite agreements with Ericsson, Nokia and Samsung. At the recently held much-awaited spectrum auction for 5G services by the Department of Telecom, Airtel bid for and acquired 19867.8 MHZ spectrum in 900 MHz, 1800 MHz, 2100 MHz, 3300 MHz, and 26 GHz frequencies. "We are delighted to announce that Airtel will commence roll out of 5G services in August.
US Grand Prix winner Kimi Raikkonen has always been known as 'The Iceman' but Formula One fans could soon have much more of an insight into just how cool he really is in the heat of battle.
'We need more support from states to back budding talents from not-so-affluent families.'
We are not pursuing AI to beat humans at games. We are pursuing AI so that we can empower every person and every institution that people build, said Nadella
'The structural story of India is a multi-decadal story.' 'One should stay invested in that story and avoid reacting to what is happening globally.'
Hindustan Unilever (HUL)'s decision to split its beauty and personal care division and place a renewed focus on digital has been driven by its aim to serve the consumer of tomorrow, say analysts and brand experts. HUL managing director and chief executive officer Rohit Jawa is looking to make the company 'future ready', and while these bets are not for the short-term, they will eventually pay off as the Indian consumer is young and digital friendly, they add. "Rohit Jawa comes with digital experience and he is preparing to steer HUL into serving the future consumer who is more digital friendly," said Sachin Bobade, vice-president at brokerage firm Dolat Capital.
'Our Q1 was almost flat, and there was very negligible growth in Q2, but the deal pipeline and the order book have been fairly significant.'
ICICI Bank share price hits record high, ICICI Bank m-cap tops $100 billion: Shares of ICICI Bank have been on a steady uptrend, rising 30 per cent over the past one year; not far behind Axis Bank stock that surged over 34 per cent during the period. The BSE Sensex, meanwhile, is up 25 per cent, and the BSE BANKEX 22 per cent in the last one year, ACE Equity data shows. On Wednesday, June 26, ICICI Bank shares hit a fresh record high for the third consecutive day, rising 2 per cent on the BSE in the intraday trade.
With the Supreme Court turning down Google's plea for a stay on the CCI order, the tech giant on Friday said it is reviewing the details of the decision which is limited to interim relief and did not decide the merits of the appeal. The company said it remains committed to users and partners and "will cooperate with the CCI on the way forward in parallel with our appeal." In a setback to Google, the Supreme Court on Thursday endorsed the order of the National Company Law Appellate Tribunal (NCLAT) declining to grant an interim stay on the imposition of Rs 1,337 crore penalty on the US tech major by the competition regulator for allegedly abusing its dominant position in the Android mobile device ecosystem.
The climate for 'doing business' remains forbidding, taxtortion is still rife, corruption at state and district levels has increased, oil prices remain extortive with high taxation, and the continued red tape has kept the enterprise system as stifled as before, points out Debashis Basu.
While TMC leaders ridiculed Prime Minister Narendra Modi and UP chief minister Yogi Adityanath for lifting an image purportedly from West Bengal, the BJP in the Mamata Banerjee-ruled state took potshots at crashing flyovers in the eastern state over the use of an image in a newspaper ad
Most economists expect the global economy to weaken in the coming year amid political and financial volatility, but a large majority of over 90 per cent are confident of moderate or strong growth in South Asia, notably India, a survey showed on Friday. At the same time, the outlook for China has dimmed following signs of deflationary pressures and fragility in the country's real estate market, the World Economic Forum's latest 'Chief Economists Outlook' report said. As the world grapples with political and financial volatility, almost six in 10 believe the global economic outlook will undermine progress towards meeting the UN Sustainable Development Goals (SDGs), with 74 per cent saying geopolitical tensions will have the same effect.
India, the world's fifth largest economy in the world, is likely to overtake Japan to become the world's third-largest economy with a GDP of $7.3 trillion by 2030, S&P Global Market Intelligence said in its latest issue of PMI. After two years of rapid economic growth in 2021 and 2022, the Indian economy has continued to show sustained strong growth during the 2023 calendar year. India's gross domestic product (GDP) is expected to grow 6.2-6.3 per cent in the fiscal year ending in March 2024, being the fastest-growing major economy this fiscal year.
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