Prime Minister Narendra Modi's state visit to the US is expected to see discussion on India's possible entry into a US-led global alliance on critical minerals, officials told Business Standard. In June last year, the US, the European Union, and other G7 partners launched the Minerals Security Partnership to ensure that China did not further strengthen its grip on supplies of critical minerals the world over. Various ministries, including the Ministry of Finance, have communicated to the Ministry of External Affairs to explore the possibility of India joining the partnership, officials said.
Reliance Industries (RIL's) annual report released on Sunday highlighted the company's focus on new energy solutions, with chairman and managing director (MD) Mukesh Ambani stating that the age of fossil fuels will not continue much longer. RIL has sought shareholders' approval to give Ambani another five-year term as MD till 2029 at nil salary. The recently demerged Jio Financial Services, which "will leverage the prowess of digital and retail businesses", was expected to be listed soon.
Just a few weeks ago, Communications Minister Ashwini Vaishnaw did some tough talking with the senior managers of Bharat Sanchar Nigam Ltd, the ailing state-owned telecom service provider. The message was clear: They had to perform, quit by taking the voluntary retirement package or be compulsorily retired from service. The terse message from an otherwise polite and soft-spoken minister came just days after he announced a second and bigger package of Rs 1.64 trillion as part of a four-year turnaround plan for BSNL.
"The government has imposed a lot of regulations, and is not permitting major technological upgrade," Tata said.
The Department of Telecom on Tuesday approved applications of telecom companies -- Reliance Jio, Bharti Airtel, Vodafone Idea and MTNL -- for conducting 5G trials but none of them will be using technologies of Chinese entities. The list of telecom gear makers approved for trials include Ericsson, Nokia, Samsung, C-DOT and Reliance Jio's indigenously developed technologies.
Clearly, Foxconn Chairman Young Liu and his team are looking to raise their game in India.
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.
"African information and communication technologies industry is an exciting place to be. Market liberalization continues and most countries have established regulatory bodies to ensure a fair, competitive and enabling environment, Hamadoun Tour, secretary-general of the ITU said on Monday. The secretary-general was speaking at the opening of a major trade fair "ITU Telecom Africa" in Cairo inaugurated by Egyptian President Hosni Mubarak.
Prime Minister Narendra Modi will launch the much-awaited 5G services in India on October 1, 2022, an official release said on Friday. According to the release, 5G to be launched by the Prime Minister in select cities, will progressively cover the entire country over the next couple of years. The cumulative economic impact of 5G on India is estimated to reach $450 billion by 2035. Capable of supporting ultra-high-speed internet services, the fifth generation or 5G is expected to unleash new economic opportunities and societal benefits, serving as a transformational force for Indian society.
From the US, Modi will travel to Egypt at the invitation of President Abdel Fattah El-Sisi.
Modi said this 'special invitation' from President Joseph Biden and First Lady Jill Biden for a state visit is a reflection of the vigour and vitality of the partnership between the democracies.
With Chinese companies Huawei and ZTE excluded from participating in the 5G roll out, their absence leaves a vacuum in the market which will have to be filled by three vendors: Ericsson, Nokia and Samsung.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
NavIC consists of a constellation of seven satellites and a network of ground stations and is touted to be more accurate than GPS.
Sutherland, a business process outsourcing concern, invites applications for Help Desk Executives and Senior Help Desk Executives.
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A letter issued on Monday was jointly addressed to the US commerce secretary and trade representatives.
A year after Bharti Airtel launched 4G services, there are only 6.5 mn users in the country
Union IT and Communications Minister Dayanidhi Maran on Thursday said IT and telecom hardware industry will be under a zero-duty regime from 2005.
The prime minister, who is visiting the US at the invitation of President Biden and First Lady Jill Biden, will join them for the state banquet along with a number of dignitaries on Thursday.
India is likely to become a $40 trillion economy by 2047 -- a 13-fold jump from its current size -- driven primarily by a clean energy revolution and digitalisation, billionaire Mukesh Ambani said on Tuesday. Ambani's estimate for the Indian economy, currently the fifth largest in the world behind only the US, China, Japan and Germany, is more optimistic than Asia's richest man Gautam Adani, who last week stated that India will become a $30 trillion economy by 2050 on back of rising consumption and socio-economic reforms. "From a 3 trillion-dollar economy, India will grow to become a 40 trillion-dollar economy by 2047, ranking among the top three economies of the world," Ambani said at the 10th convocation of Pandit Deendayal Energy University in Gandhinagar.
'There is definitely a skill war, or a talent war going on.'
Strategic deals like the one involving the HDFC twins accounted for a bulk $126 billion of the overall quantum, while transactions involving private equity funds stood at $37 billion, the report by Deloitte, a consultancy firm, said. Despite global headwinds like rising interest rates and elevated inflation levels leading to increased margin pressures for companies, the firm expects the overall activity to remain "strong" in the ongoing 2023.
The government on Wednesday said foreign direct investment in IT and telecom sector is expected to go up by more than 100 per cent in 2006.
DoT decides not to scrap dual-technology telecom licences
Telecom industry body COAI has approached the information technology ministry for removal of fake and misleading messages from social media platforms like Facebook, Whatsapp and Twitter linking spread of COVID-19 to 5G technology. The Cellular Operators Association of India (COAI), whose members include Reliance Jio, Bharti Airtel and Vodafone Idea, said the claims linking 5G with coronavirus are baseless as 5G networks have not yet been installed in the country and even 5G trials are yet to be started by the telecom operators. In a letter dated May 15 to MeitY additional secretary Rajendra Kumar, COAI director general S P Kochhar said: "To safeguard the national interest, we request your good office to kindly instruct all the social media platforms such as Facebook, Watsapp, Twitter, etc, to remove all such posts and misleading campaigns from their platforms on an urgent basis." People have been sharing audio and video messages on social media platforms in which 5G towers are being blamed for rise in casualties across the country even though none of the companies have installed 5G technology anywhere in India.
Telecom gear makers say will take six to eight months for the top 10 cities to have some reasonable coverage of 5G network services.
Nokia sold its once-dominant handset business last year.
If Reliance Jio resets the rules of the game with low voice and data tariffs, most incumbents will find themselves back to square one.
Strong macroeconomic headwinds causing turbulence in the $245-billion Indian IT industry are yet to calm down. Top Indian IT services companies are likely to post a decline or just marginal growth in sequential revenue in Q1FY24 because of a soft discretionary spending environment. Though the first quarter is seasonally strong for IT firms, "June 2023 will be an exception", according to analysts at Kotak Institutional Equities.
Reliance Jio is close to finalising its contract with telecom gear maker Ericsson to roll out its 5G network in Mumbai and Maharashtra and Kolkata and West Bengal in the first phase of its launch in October. And it is going with Nokia for the lucrative Delhi circle, and Chennai, which includes Tamil Nadu, say sources aware of the development. This is the first time that Jio is opting for multiple vendors.
The Tata group's tryst with mobile services, with either CDMA or GSM technology, did not really fly, forcing it to close operations and write off losses. Now the group is back in the big game, this time straddling the telecom equipment, network and technology space in India as well as the global market. To this end, it is leveraging the opportunities that flow from 5G technology through open radio access network, or O-RAN. Recently, the Tata Sons' subsidiary Panatone Finvest acquired 43.3 per cent in Bengaluru-based telecom equipment manufacturer Tejas Network for Rs 1,850 crore and announced it would buy another 26 per cent of the voting capital through an open offer.
While Jio MF will undoubtedly grow in size, it will have to cross multiple hurdles even to emerge as the market leader, observes Debashis Basu.
From the Sensex pack, Infosys, HCL Technologies, Infosys, NTPC, Mahindra & Mahindra, Tata Consultancy Services, Nestle, Tech Mahindra and Bajaj Finance were the major gainers. Power Grid, Larsen & Toubro, Maruti, Titan, HDFC Bank, Wipro, HDFC and ITC were among the laggards.
Telecom operator Bharti Airtel and IT major Tata Consultancy Services (TCS) have joined hands to build a 5G-based remote working technology using robotics, according to a joint statement. TCS during the trials has successfully tested two use cases of its Neural Manufacturing solutions on Airtel's 5G testbed in Manesar - remote robotics operations, and vision-based quality inspection, the statement claimed. "The 5G ecosystem will open limitless possibilities for enterprises to enhance productivity and serve their customers even better with digitally enabled applications.
The conversion of interest into equity stake for the government in Vodafone Idea (Vi) will be decided after the telecommunications (telecom) company's stock price stabilises above Rs 10, India's largest mobile tower installation company Indus Towers has said in its second-quarter report. The board of Vi had, in January, approved the conversion of Rs 16,130 crore worth of interest on adjusted gross revenue dues into equity for the government. This will give the government around 33 per cent stake in Vi.
The auction for the 5G spectrum is likely to take place around April-May next year, Communications Minister Ashwini Vaishnaw said on Thursday. While relief measures announced in September this year for telecom operators marked the first set of reforms, the government will bring out a series of further reforms and "telecom regulatory structure should change in coming 2-3 years", Vaishnaw said. Speaking at the 'Times Now Summit 2021', the minister said India's telecom sector regulation has to be benchmarked with the global best, and added that "so, we will come with a series of reforms in this, such that the global benchmark of regulations is achieved in India".
Reliance Industries Ltd will invest Rs 75,000 crore in rolling out 5G mobile telephony services, expanding retail network and setting up renewable energy capacity in Uttar Pradesh in the next four years, its chairman Mukesh Ambani said on Friday. Ambani also announced foray of the oil-to-telecom conglomerate into bio-energy business, converting agriculture waste into gas which can be used as fuel in industries, run automobiles or light kitchen stoves. Speaking at the Uttar Pradesh Global Investors Summit 2023 here, Ambani said his group will set up 10 GigaWatts of renewable energy capacity and roll out 5G services across the state in the next 10 months.
Reliance Industries (RIL) has been distilling its investment strategy to meet new goals. The share of the new energy vertical - its key focus area - accounts for more than a fourth (26 per cent) of the total war chest of $6.4 billion, ploughed into acquisitions and picking up stake from 2018 to date, reveals the latest Morgan Stanley data. Nearly half the incremental investments made on deals by RIL between August 2020 and September this year ($3.3 billion) has been spent on new energy - acquiring global companies with technology and expertise.
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