The ministry of electronics and information technology is working on creating a software product council, including members from the government, academia and industry that will work on implementing a software products mission.
The government is expected to outline a policy framework for artificial intelligence (AI) at the annual India Mobile Congress (IMC) 2024, beginning Tuesday, officials said. Apart from industry participation, the four-day event will feature booths from over 15 ministries showcasing how AI is being integrated into their departments.
To boost domestic manufacturing under the Make in India initiative and reduce dependency on imports, the government is expected to announce in the Budget an increase in the minimum local content requirement for public procurement, with certain sectors being granted exceptions. Currently, firms producing goods, services, or works with at least 50 per cent local content are classified as Class-I local suppliers and are preferred the most in government procurement.
The swindled amount is nearly half of WazirX's total assets.
Ministers' resignation accepted, portfolios farmed out
In a move to deepen manufacturing in electronics in India, the Centre is targeting 35-40 per cent value-addition through the yet-to-be launched production-linked incentive (PLI) scheme for electronics components, sources in the government
'The idea is to frame the ToR quickly, so that Trai can begin its consultations with industry stakeholders.'
The Fintech Association for Consumer Empowerment (FACE), the only self-regulatory organisation for financial technology/fintech (SRO-FT) companies, is aiming to secure membership from at least 75 per cent of players across all key fintech categories within the next three years, according to a senior executive. The total number of members in the organisation has increased to 110, up from around 60 when it received approval from the Reserve Bank of India (RBI) to operate as an SRO-FT in August.
Signalling both change and continuity, India's new government, headed by Prime Minister Narendra Modi for a third consecutive term, got into work gear on Tuesday with cabinet ministers and ministers of state filing into their respective offices to assume charge.
The industry came under scrutiny after the proliferation of games like cards, casinos, and fantasy sports among young people led to addiction and financial losses, with some reported cases of suicide.
Semiconductor makers need thousands of engineers and technicians, and though India has one of the largest pool of engineers in the world, they do not have experience in the semiconductor manufacturing space.
The Ministry of Information and Broadcasting (I&B ministry) may launch its review of the government's plan to potentially reserve the crucial C-band of radio frequencies for 5G and 6G telecommunication (telecom) use, said officials. While the incumbent broadcasting operators have warned that the plan will leave "precious little spectrum" for broadcasting services, telecom service providers (TSPs) have pressed hard for getting access to the C-band. In multiple letters to the I&B ministry over the past month, the News Broadcasters & Digital Association (NBDA) has said the industry would be left with precious little spectrum for broadcasting services if the Department of Telecommunications (DoT) further allocates the scant C-band for 5G.
The ministry of information and broadcasting is working on a proposal to set up a mega movie production studio -- akin to those in Hollywood -- with an investment of Rs 10,000 crore (Rs 100 billion), which will be supported by the government.
China's software industry grew slightly faster in the first five months of this year, boosted by government's preferential tax policies.
Amid outrage over a plan to give powers to its arm Press Information Bureau to police fake news on social media, Union Minister Rajeev Chandrasekhar on Tuesday said that the government will hold discussions next month with stakeholders before the proposal is implemented.
The regulatory gap between crypto firms registered with the Financial Intelligence Unit-India (FIU-India) and unregistered offshore entities is expected to narrow, industry players said, after global crypto players Binance and KuCoin received approvals to register with India's anti-money laundering unit.
The 17 related ministries have been combined into seven different groups, including some infrastructure departments, in a bid to ensure synergy and better results.
Work on a dozen decisions to start by next week.
Finance Minister Nirmala Sitharaman on Tuesday met top officials of the finance and corporate affairs ministries to review the implementation of various announcements of the Union Budget FY24. "The finance minister underlined the importance of continuous assessment of progress to ensure that various announcements are implemented in a time-bound manner," the finance ministry said in a tweet. Sitharaman also discussed in detail various issues on the digital competition laws with Rajeev Chandrashekhar, the minister of state for entrepreneurship, skill development, electronics and technology.
'Many do not have robust business models, and their prospects of survival and long-term growth are poor.'
Gaming platforms will also be required to display a warning after a certain time of usage to reduce the risk of addiction.
A 14-member council of ministers was sworn in Patna by Governor Phagu Chauhan on Monday and the BJP bagged seven berths.
The government has created a comprehensive budget with sharp focus on sustaining economic activity and investment but more clarity is needed on areas like taxation framework for adopting remote working on a long-term basis, IT body Nasscom said on Monday. The industry association noted that the IT/ITeS (Information Technology-enabled Services) industry has been a key driver of growth and jobs in 2020 and there is an opportunity to significantly accelerate it further. "For the IT sector, one of the biggest needs ahead of us is the development of future business models, with hybrid working becoming a reality. "We look forward for the government to provide clarity on providing a framework in direct taxes and indirect taxes for the industry to adopt WFH/remote working on a long-term basis," Nasscom said in a statement.
Apple Inc has requested the ministry of electronics and information technology (MeitY) to give it 18 to 24 months' exemption to comply with the European Union (EU) regulation of putting an USB charging port in all its older smartphones, mainly iPhone 13 and iPhone 14, which are assembled, exported and also sold in the domestic market. Apple's stance is different from that of Samsung, which has been pushing for an immediate implementation of the EU regulation. All smartphones by the South Korean giant already comply with the EU rules.
I hope those who underestimate Rajeev Chandrasekhar will be proved wrong in this fight for Thiruvananthapuram's future, notes Rajeev Srinivasan.
Former Maharashtra minister and Shiv Sena-Uddhav Balasaheb Thackeray leader Aaditya Thackeray on Monday claimed nearly '50 people', including 'some middlemen' and personal assistants, will be part of the delegation that will travel with Chief Minister Eknath Shinde for the World Economic Forum (WEF) gathering in Davos, Switzerland.
Prime Minister Narendra Modi on Friday held bilateral talks with Italian counterpart Giorgia Meloni in Bari during which they discussed defence and security cooperation and hoped for further enhancing the defence industrial collaboration.
India and the US have signed an agreement to promote innovation through increasing cooperation among startups, address regulatory hurdles and share best practices on fundraising by entrepreneurs, an official statement said on Wednesday. The memorandum of understanding (MoU) on enhancing innovation ecosystems through an innovation handshake under the framework of India-US Commercial Dialogue was signed on November 14 in San Francisco. Commerce and Industry Minister Piyush Goyal is in San Francisco.
India and the US on Friday said they have started talks to put in place a strategic framework for human space flight by year-end as they plan to send an Indian astronaut to the International Space Station in 2024.
'We have to plan for whatever the new normal is.'
In his second term in office, UP Chief Minister Yogi Adityanath has retained 34 portfolios.
Bureau has registered just one product so far despite 1,500 applications.
The first leg of Micron's semiconductor play in Sanand is crucial for the company to sprint towards India's goal of joining the chip race.
Kumar, a 1992-batch Indian Administrative Service officer of Tamil Nadu cadre, is currently an additional secretary in the ministry of electronics and Information Technology.
No government in the past initiated the process of policy making for its next tenure even before going in for elections. Once the Model Code of Conduct is enforced by the Election Commission, should the government of the day refrain from taking an active interest in policy making for the next five years and let that be the function of the new government?, asks A K Bhattacharya.
The ministry of education is yet to take call on the recommendations by the empowered expert committee and the University Grants Commission.
The Centre Thursday told the Delhi high court it has set up an appellate mechanism to deal with grievances of the users arising from the decisions of social media platforms.
Despite the robust growth in this country, Apple's India share in its overall global sales remained modest -- constituting 1.5 per cent of its overall turnover of $389 billion in FY23.
Close on the heels of Boeing's defence of India to the US International Trade Commission's investigation into India's trade, investment and industrial policies, IBM has also sprung to New Delhi's defence in an otherwise sea of criticism of India's violations of intellectual property rights, local content requirements, among other issues of concern to US business and industry.
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