Flipkart, the e-commerce company owned by Walmart, is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026, instead of this year, according to people familiar with the matter. The firm might consider listing in the US or any other geography, including India. The company, which counts the likes of Amazon and Reliance's JioMart among its competitors in India's burgeoning e-commerce market, had also contemplated launching an IPO in 2022-2023.
'You have to have commitment to both, but it has to be done at the individual level.'
Nearly 45 per cent of this value is likely to be delivered by 3 sectors - consumer goods and retail, agriculture and banking and insurance, the Nasscom report said.
Mark Zuckerberg, founder and CEO of Meta, summed it up well as he explained the reason for the company sacking 13 per cent of its employees. He said no one predicted that the boom for digital services during the Covid pandemic would die out. "Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended.
With Western corporations, including Microsoft, AWS and Oracle, shutting down their operations in Russia, the rest of the world has become acutely aware of its dependence on a clutch of technology service providers.
Reliance Jio has sent a second legal opinion to the Telecom Regulatory Authority of India (Trai) on the subject of the potential allocation of satellite spectrum. The letter is written by retired Supreme Court Justice L Nageshwara Rao and argues in favour of auctions, stating that any other method for allocating spectrum apart from auctions could be constitutionally unsound. Business Standard has reviewed the letter.
Cognizant Technology Solutions is infusing generative artificial intelligence (GenAI) into all its core offerings, chief executive Ravi Kumar S wrote in an internal note to its employees. Cognizant has 351,500 employees, a majority of whom are in India. Kumar cited the example of a GenAI-enabled conversational virtual assistant (VA) that Cognizant has introduced to help clients reimagine experiences beyond chatbots.
'It has taken us 15 years to get to where we are. It obviously doesn't happen overnight.'
Modi was addressing the State Dinner hosted in his honour by US President Joe Biden and First Lady Jill Biden at the North Lawn of the White House.
"In a year dominated by political chaos and bluster, it was a rare brand of steady -- even quiet -- leadership that won the day in the business world. And no one epitomises that brand of obsessively results-driven, team-based leadership more than our new No. 1 Businessperson of the Year," Fortune said.
Kwatra briefed reporters on the outcomes of the second day of Modi's visit that began in Washington, DC with a grand ceremonial welcome on the South Lawn of the White House.
What some of our leaders were up to on Wednesday, January 4, 2023.
In a major setback to Infosys Technologies, the company announced that Mohandas Pai, the member of board of the company has decided to resign. Meanwhile, Infosys -- India's second largest software services exports firm -- posted a net profit rise of 17.1% y-o-y to Rs 1,818 crore (Rs 18.18 billion) in its net profit for the fourth quarter ended March 31, 2011 as compared to Rs 1,600 crore (Rs 16 billion) in the corresponding quarter a year ago.
'Any entrepreneur who wants to create companies on blockchain will have to move outside India.' 'A ban will also wipe out the entire asset investing class that has built up in India.'
The much-talked-about sale of Ambuja Cement and ACC by Holcim Group will see the single-biggest outflow of foreign capital from the country if the two cement firms are acquired by Indian investors. The deal, valued at nearly $10.35 billion, will put in the shade Cairn Energy Plc's exit from India in 2010, when it sold Cairn India to Vedanta Group for $4.48 billion. According to various reports, big business groups such as AV Birla, JSW Group, and Adani Group are in the fray to acquire Holcim's assets in India.
Microsoft has spent close to $4.5 bn in setting up 19 data centres.
Preeti Vyas Giannetti of Vyas Giannnetti Creative says that there is always a glass ceiling for women at the top level.
Alphabet, the parent company of Google, is likely to join the list of Big Tech companies going for large-scale layoffs. With this, almost the entire universe of FAANG - acronym for Facebook, Amazon, Apple, Netflix and Google - has now come under the layoff turbulence hitting tens of thousands of tech jobs around the world. Reports surfaced on Tuesday about the Mountain View (California)-headquartered tech giant planning to fire around 10,000 employees.
'Students of Tier-II and Tier III engineering colleges in the south may find 2023 to be one of the toughest years for getting jobs.'
Prime Minister Modi's remarks on Thursday came during his address to a joint session of the US Congress. He attributed a big part of the success of India-US ties to Indian-Americans.
He advised the youth that they should fall in love with what they do. "Then it doesn't feel like work!"
Virtualisation is going to be a key opportunity for software players in the next 3 to 5 years, according to Amit Chatterjee, general manager, Windows Group of Microsoft India (R&D) Private Limited.
Stating that India has some brands that have already well established, Nadella said there was stunning cross section of starts ups in the country.
In the last 12 months, over 7,500 Indians have applied for a resident permit.
On his three-day trip, the Microsoft CEO will meet governments and businesses to get them to use the company's platforms.
Speaking at a fireside chat with Microsoft CEO Satya Nadella, he said the big change driving this transformation was the deepening of mobile networks which were working at a much faster pace than before.
The Reserve Bank of India's (RBI's) decision on Wednesday to relax restrictions on banks operating in the International Financial Services Centre (IFSC) related to the repatriation of idle funds in foreign currency accounts (FCA) could give a fillip to trading in foreign stocks at the GIFT City.
Balakrishnan said Nasscom had predicted that impact on jobs due to non-extension of STPI scheme might result in loss of 400,000 jobs in three to four years.
Indian billionaires Mukesh Ambani and Anand Mahindra, Apple CEO Tim Cook and corporate leader Indira Nooyi were among the guests. CEOs of Google, Microsoft and Adobe -- Sunder Pichai, Satya Nadella and Shantanu Narayen -- also attended the event.
The coronavirus pandemic has not impacted India's long-term growth trajectory although it has delayed it and in this decade, the country will lead the global growth rates, Tata group chairman N Chandrasekaran said on Tuesday. Speaking at tech giant Microsoft's annual flagship event, Future Ready, he said it should be a national priority to enable access to healthcare and education using digital infrastructure for all in the country, considering how the acceleration of digital adoption during the pandemic has created a divide as many people, who do not have the means and access, have been left behind. "There are many things going for India. I think as the economy fully opens up post the pandemic, I believe that our growth will continue to get stronger.
Planning Commission Deputy Chairman Montek Singh Ahluwalia said the government can consider some more measures to contain inflation if prices do not soften going ahead. Inflation touched a 42-month high of 7.57 per cent for the week ended April 19 as compared to 7.33 per cent in the previous week. When asked whether futures trading of food grains be banned to bring down prices, he replied that the expert committee has said that futures trading does not increase inflation.
Why hasn't India produced a single earth-shaking idea like Python or the World Wide Web, asks Ajit Balakrishnan.
Is Chandrababu Naidu being in jail an opportunity? How will the TDP capitalise on it? Or will it implode with nothing more than a sigh?
Five years after USA Cricket shared its plans to launch a domestic T20 tournament, the inaugural edition of the MLC kicked off having assembled an impressive array of investors.
The government of Pakistan conferred on Gates the Hilal-e-Pakistan, the country's second-highest civil award.
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
The device, Win 400, is available at Rs 4,979.
India is struggling with a second wave of the pandemic with more than 3,00,000 daily new coronavirus cases being reported in the past few days, and hospitals in several states are reeling under a shortage of medical oxygen and beds.
The recent report in the New York Times that China had brought India's financial capital - Mumbai - to a halt by hacking the electricity supply grid has not come as a surprise to the CTOs (chief technology officers) and cyber security experts. Indian companies, including critical infrastructure providers such as power grids, ports and radar systems, lack the IT infrastructure to prevent hacking from hostile state actors like China and North Korea, warn security experts. Recently, the United States government warned of yet another breach of critical systems tied to Microsoft Exchange email systems that the company has blamed on China. The breach has impacted thousands of organisations in the US and its impact on India is still unknown.
