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New Delhi [India], May 24 (ANI): <keyword id="21790772" type="General" weightage="20" keywordseo="Indias-data-centre-industry" source="Orion">India's data centre industry</keyword> to attract an investment of USD 5.7 billion by 2026 amid the growing demand for <keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">AI</keyword> (<keyword id="107950" type="General" weightage="20" keywordseo="artificial-intelligence" source="Orion">Artificial Intelligence</keyword>), says a report by real estate and investment management company, JLL. The report highlights that India's <keyword id="13391374" type="General" weightage="20" keywordseo="data-centre-industry" source="Orion">data centre industry</keyword> will add 791 MW capacity by 2026 and this expansion will lead to a demand of 10 million sq. ft of real state space. "The <keyword id="126804" type="General" weightage="20" keywordseo="data-centre" source="Orion">Data Centre</keyword> (DC) industry in India is set to witness remarkable growth, with projections of adding 791 MW capacity by 2026. This expansion will drive demand for 10 million sq. ft. of real estate space, attracting investments worth USD 5.7 billion" said the report. A data center is a facility that centralises an organisation's IT operations and equipment to store, process and transfer data and applications. The report highlights that growth in computing power and the resulting new applications are expected to drive strong demand for DC industry over the medium term. The expected demand of the Indian data centre industry to reach 650-800 MW during 2024-26. The surge in demand for data centres is primarily fuelled by the increasing adoption of Artificial Intelligence (AI). The report points out that Cloud Service Providers (CSPs), who essentially offer IT infrastructure systems primarily for data storage and computing power accessible through the Internet, have realigned their requirements to factor in AI-led demand. The CSPs have also announced higher investments to scale up AI-led growth. "The exponential growth in processing power and data volumes, driven by AI, necessitates the development of new data centres capable of meeting energy, processing, and cooling needs. The anticipated expansion and progression of diverse AI disciplines are projected to create additional demand for data centres, expanding their capacity requirements and advancing their capabilities" said Rachit Mohan, Head, Data Centre Advisory, India, JLL. According to the report in the second half of 2023, there was a 12 per cent increase in absorption to 81 MW compared to 72 MW during the same period last year. This growth can be attributed to cloud service providers (CSP) gaining momentum after a brief hiatus during the first half of 2023. In Mumbai, absorption nearly doubled during this period as CSPs renewed their pace of absorption. "India is poised to be the third-largest economy, with a projected USD 5 trillion GDP by 2027 with digital economy contribution of around 20 per cent. This digital expansion is anticipated to propel the growth of India's data centre industry, projected to increase from 853 MW in 2023 to 1,645 MW by 2026," said Dr. Samantak Das, Chief Economist and Head of Research &amp; REIS, India, JLL. There was a lower supply addition of 75 MW during H2 2023 as the available supply from the first half was utilised to meet the demand, resulting in tighter vacancy levels of 5.5 per cent. With a large user market, talented workforce, and thriving startup ecosystem, India presents a significant opportunity to emerge as a global data hub, driven by sustainable practices. The country's DC sector expanded from 350 MW in 2019 to 854 MW in 2023, in line with the increasing digital usage trends.

Amid growing demand for AI, India's Data Centre boom to drive USD 5.7 billion investments by 2026: JLL

Chipmaker <keyword id="20004922" type="General" weightage="20" keywordseo="AMD" source="keywords" meta.keywordsubtype="org" meta.entityname="AMD" meta.hostid="261" meta.entityid="AMD">AMD</keyword> is poised to power the surging demand for <keyword id="21517898" type="General" weightage="20" keywordseo="AI-compute" source="keywords">AI compute</keyword> with its wide range of product portfolio, the company's Chief <keyword id="19901571" type="General" weightage="20" keywordseo="technology" source="keywords">Technology</keyword> Officer Mark Papermaster said on Friday. AI compute refers to processing of data using artificial intelligence or machine learning algorithms. Marking 55 years of AMD (Advanced Micro Devices), Papermaster in a blog post looked back on five years of growth and innovations at the company, while also looking ahead to the next five years. He said the future of technology will be born from open ecosystems and deep industry partnerships that drive true innovation. "We're in a unique position to power increased demand for AI compute based on our broad portfolio of compute engines, deep relationships with customers across a diverse set of markets, and open software capabilities. We have a strong foundation of <keyword id="20053383" type="General" weightage="20" keywordseo="data-centre" source="keywords">data centre</keyword> products and customer collaboration across cloud and enterprise, and leadership products for AI PCs," he wrote. He said AMD has shifted from unique product silos to a modular IP portfolio, connected by a single AI software stack for easy deployment, and called it a 'holistic design approach'. "We need to speed our development by using more AI applications in our internal workflows to boost our productivity...We look forward to discovering new methods to optimise efficiency and experiment with new technologies that have potential," he said, adding that AI is poised to become more ubiquitous and consequential than the advent of the Internet. Papermaster further said that AMD will make some 'exciting' announcements at Computex (Taipei), an annual computer exhibition set to be held in June this year. Looking back, he said, "We made the call over a decade ago to leverage our strength and heritage in high-performance computing and invest for the future. Those bets have paid off as all our markets now demand the utmost in compute efficiency (performance per Watt of energy expended), and AI enablement. "...Our growth hasn't come overnight. AMD technology powers the daily lives of billions of people around the world, and in the last five years we've expanded the number of markets we serve." He said that the IT corporation has steadily increased investments in research and development for the past five years to be in line with the growing demand for compute performance and efficiency. "...Our research and development investment has nearly quadrupled, from USD 1.5 billion in 2019, to USD 5.9 billion in 2023, and we plan to continue to invest in developing groundbreaking technologies that show early promise," he said. He added that since 2019, AMD and the <keyword id="20149900" type="General" weightage="20" keywordseo="semiconductor-industry" source="keywords">semiconductor industry</keyword> have grown tremendously. "Global sales of semiconductors grew from USD 412.3 billion in 2019 to USD 574.1 billion in 2022, and are estimated to grow to USD 1 trillion by 2030," he said, adding that AMD is positioned to service the insatiable demand for more computing capacity. He said the company's headcount has more than doubled in the past five years. "Xilinx was the largest semiconductor acquisition when completed in 2022 adding incredible talent, leadership IP, and market expansion to adaptive compute markets with deep customer relationships," he said. Earlier this month, AMD posted its revenue at USD 5.47 billion (about Rs 45.6 crore) for the first quarter of 2024, up 2 per cent against the year-ago period. "AMD started the year strong, delivering record quarterly data centre segment revenue," AMD's EVP, CFO and Treasurer Jean Hu had said. "In addition, we drove solid gross margin expansion. Moving forward, we are well positioned to continue driving revenue growth and margin improvement while investing in the large AI opportunities ahead." SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-grow-by-6-in-q1-2024-samsung-retakes-the-top-spot/articleshow/109817280.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-grow-by-6-in-q1-2024-samsung-retakes-the-top-spot/articleshow/109817280.cms" target="_blank">Global smartphone shipments grow by 6% in Q1 2024, Samsung retakes the top spot</a><a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank">Electric two-wheeler sales crater in April 2024 as prices increase amid reduced subsidies</a><a href="https://www.businessinsider.in/business/auto/webstories/bajaj-pulsar-ns400z-launched-at-1-85-lakh-becomes-cheapest-400cc-bike-in-the-country/slidelist/109810458.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/bajaj-pulsar-ns400z-launched-at-1-85-lakh-becomes-cheapest-400cc-bike-in-the-country/slidelist/109810458.cms" target="_blank">Bajaj Pulsar NS400Z launched at ₹1.85 lakh, becomes cheapest 400cc bike in the country</a>

AMD set to fuel growing demand for AI compute, says CTO

The <keyword id="1370377" type="General" weightage="20" keywordseo="BPM-industry" source="Orion">BPM industry</keyword> in India is at the cusp of a transformation and the demand for AI-enabled talent is set to surge, redefining workforce needs across the sector. “My spectrum tells me, in the next 3-5 years, there’s going to be an uptick in AI-enabled workers till the time that models stabilise,” said Nitasha Atreya, the Head of Transformation, Digital Operations and Platforms at Wipro, during a panel discussion on “AI-Ready <keyword id="20041791" type="General" weightage="20" keywordseo="bpm" source="keywords">BPM</keyword> Industry in India,” hosted by Business Insider India. While AI has the potential to streamline many business processes, industry experts caution against relying solely on AI. Human intervention is still required, which means skilling new talent and upskilling existing talent is vital to leveraging AI effectively. Investing in these areas allows organisations to better meet evolving demands with a workforce that complements AI-driven solutions. <div type="Youtube" id="3ewvUSYfG1M" title="Al-Ready BPM Industry In India" thumbUrl="https://i.ytimg.com/vi/3ewvUSYfG1M/mqdefault.jpg"><url><![CDATA[https://www.youtube.com/watch?v=3ewvUSYfG1M]]></url></div> <h2>Why human intervention is critical</h2>As the demand for AI and generative AI models is rising among BPM clients, particularly for model-building capabilities, so is the demand for AI-skilled workers. “For us to have the right intervention for human-in-the-loop processes, it’s essential that we develop an AI-enabled workforce,” Mythily Ramesh, Co-Founder and Director of NextWealth told Business Insider. Ramesh shared industry projections that estimate AI could create up to 100 million jobs globally. AI models generate predictions based on historical data and probabilities, but human oversight is essential to ensure accuracy and minimise errors. “AI as an enabler or augmenting the human workforce is probably the way this industry is going to progress. With the risks that are associated with completely leaving AI to replace humans – it’s just not going to work,” explained <keyword id="23987938" type="General" weightage="20" keywordseo="sundar-hariharan" source="keywords">Sundar Hariharan</keyword>, Vice President of Digital Business Experience Centre at Alorica IQ. <h2>Shaping the future of AI And BPMs with collaborative intelligence</h2>The panellists emphasised a significant challenge in AI model development: only 1 in every 100 models actually makes it to deployment. For all of these models, a rigorous process of training and fine-tuning is required, using either synthetic or human-generated data. This process is not just about feeding the model data but also validating the output to ensure it functions as intended. “There’s a lot of requirements for data training and validation,” said Ramesh, highlighting the substantial demand for data annotators, labelers, and specialists in areas like image and video annotation. These roles are crucial for ensuring that the data used to train models is of high quality and accurately reflects the task at hand. However, the skills required for these roles go beyond traditional data labelling. The workforce must move away from rigid Standard Operating Procedures (SOPs) and understand the context in which data is being used. This requires employees to make judgement calls that help refine the model’s performance, adapting to continuously evolving instruction sets. "It’s collaborative intelligence—human intelligence combined with artificial intelligence," Ramesh noted. To address this evolving demand for skills, companies like Wipro have implemented comprehensive upskilling programs. These programs are tailored to different business segments, from basic AI awareness (AI 101) to advanced training for developers, engineers, and architects—those working directly on the models. Atreya shared that over 10,000 developers and engineers at Wipro are currently receiving training across these programs. <h2>AI’s role in transforming BPM operations</h2>According to Suhrid Brahma, the Chief Technology Officer at WNS Global Systems, the core model of the BPM industry is changing. “There is a shift from focus on people, to outcomes and value-add as an industry,” he said. He outlines a three-part strategy for the upgrades needed in AI-driven BPM, beginning with AI in operations. By building an AI-skilled workforce and maintaining a ‘human in the loop’ approach, organisations can maximise the value of AI while keeping essential human oversight. The second area is AI for applications and platforms. Each BPM deal has a technological component, which varies from client to client, but AI should be woven directly into these enterprise systems to ensure seamless functionality. Lastly, he highlights AI’s evolving role in analytics, shifting from retrospective analysis to providing predictive insights that drive proactive decision-making across the organisation. “This whole industry will grow for sure. But the nature of work we do, the kind of value-add we do for clients and the kind of outcomes we deliver as an industry, will definitely change,” Brahma noted. <h2>Navigating an evolving AI landscape in BPM</h2>As AI continues to reshape BPM, the nature of customer needs is also changing. With AI, businesses now have the potential to drive end-to-end process automation, where one part of the process is handled by the BPM organisation and the other by the client, fostering a more collaborative approach to AI adoption. Hariharan noted that BPM providers are transitioning into more tech-driven organisations, as AI increasingly becomes a key enabler of business processes. However, the road to AI integration is not without challenges. Atreya pointed out several challenges like siloed technology limiting the potential of AI to drive meaningful results. Atreya highlighted that siloed technology often limits the ability of AI to drive results. Organisations must assess whether they are AI-ready, with a mature data infrastructure and robust data availability. According to her, the most pressing concern remains ensuring ethical and responsible AI deployment, as new regulations continue to evolve. For sectors like BFSI, tech integration is already advanced, but industries like logistics have an opportunity to leapfrog by integrating systems and running processes end-to-end with AI, according to Brahma. He emphasised the importance of data integration to fully benefit from AI. Looking ahead, the panellists see huge opportunities in sectors like e-commerce and automotive, where AI-driven services are changing the landscape. The key to success will be collaboration, integration, and a well-trained workforce prepared to drive this AI-enabled transformation. This article is part of a four-part webinar series in partnership with nasscom. These monthly webinars aim to delve deep and offer insights into the evolving BPM landscape. You can watch the full video of the third session <a href="https://youtu.be/3ewvUSYfG1M">here</a>. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

India's BPM industry to see sharp demand for AI-skilled talent over the next 3-5 years

<ul><li><keyword id="19912297" type="General" weightage="20" keywordseo="NVIDIA" source="keywords" meta.keywordsubtype="org" meta.entityname="NVIDIA" meta.hostid="261" meta.entityid="NVIDIA">NVIDIA</keyword> and <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> have partnered to build AI computing infrastructure.</li><li>NVIDIA will also supply the latest Blackwell AI chip for Reliance Industries’ new data centre.</li><li>The partnership was announced at the NVIDIA AI Summit India.</li></ul> <keyword id="16173150" type="General" weightage="20" keywordseo="NVIDIA-CEO-Jensen-Huang" source="Orion">NVIDIA CEO Jensen Huang</keyword> at the NVIDIA AI Summit India announced a partnership with Mukesh Ambani-led Reliance Industries to an artificial intelligence (AI) computing infrastructure and an innovation centre in India. As part of the partnership between the two companies, Reliance Industries will use the latest Nvidia Blackwell AI chip for its new major data centre. The company will use NVIDIA's cutting-edge technology, including the GB200 GPUs. The two companies are aiming to accelerate India's transformation into a global AI powerhouse with the partnership, banking on the nation's talent pool and growing digital infrastructure. "India is already world-class in designing chips, Nvidia's are designed here in Bengaluru, Hyderabad, Pune. A third of Nvidia is Indian, maybe more," Huang said. While praising the country’s rapid digitalisation in recent years and talking about the country’s potential in the AI sector, Huang said, “Very few countries have this amazing natural resource called IT and computer science expertise.” "We are at the doorsteps of the new intelligence age. India will be one of the biggest intelligence markets. It's not just our aspiration, but also the raw gene power which will help drive intelligence,” said Reliance Industries chairman <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>. "India will not just deliver CEOs to world, but also AI services. Like we did with data, in few years from now we can surprise the world with what Indians can achieve in intelligence," Ambani added. Ambani revealed the company’s plans to establish a scalable infrastructure capable of expanding beyond 1 gigawatt, powered by green energy. "We are building this so we can scale, and we think big," he said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/deepak-builders-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114533208.cms">Deepak Builders IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/news/synology-introduces-new-enterprise-solutions-reports-significant-growth-in-india/articleshow/114504353.cms">Synology introduces new enterprise solutions, reports significant growth in India</a> <a href="https://www.businessinsider.in/tech/apps/news/diwali-gift-zomato-platform-fee-increased-to-rs-10-ahead-of-the-festive-season/articleshow/114493617.cms">Diwali gift from Zomato – Platform fee increased to ₹10 ahead of the festive season</a>

NVIDIA and Reliance Industries to build AI computing infrastructure in India

Researchers at the Indian Institute of Science (<keyword id="41780" type="General" weightage="20" keywordseo="iisc" source="Orion">IISc</keyword>) have developed a brain-inspired analog computing platform capable of storing and processing <keyword id="6355729" type="General" weightage="20" keywordseo="data" source="Orion">data</keyword> in an astonishing 16,500 conductance states within a molecular film. Published on September 11 in the journal Nature, this breakthrough represents a huge step forward over traditional digital computers in which data storage and processing are limited to just two states, the IISc s<keyword id="6355999" type="General" weightage="20" keywordseo="ai" source="Orion">ai</keyword>d. In a press release, the institute said that such a platform could potentially bring complex AI tasks, like training Large Language Models (LLMs), to personal devices like laptops and smartphones, thus taking us closer to democratising the development of AI tools. These developments are currently restricted to resource-heavy data centres, due to a lack of energy-efficient hardware. With silicon electronics nearing saturation, designing brain-inspired accelerators that can work alongside silicon chips to deliver faster, more efficient AI is also becoming crucial. "Neuromorphic computing has had its fair share of unsolved challenges for over a decade," explained <keyword id="23122611" type="General" weightage="20" keywordseo="sreetosh-goswami" source="keywords">Sreetosh Goswami</keyword>, Assistant Professor at the Centre for Nano Science and Engineering (CeNSE), IISc, who led the research team. "With this discovery, we have almost nailed the perfect system - a rare feat," he said. According to IISc, the fundamental operation underlying most AI algorithms is quite basic - matrix multiplication, a concept taught in high school maths. But in digital computers, these calculations hog a lot of energy. The platform developed by the IISc team drastically cuts down both the time and energy involved, making these calculations a lot faster and easier. The molecular system at the heart of the platform was designed by <keyword id="23122609" type="General" weightage="20" keywordseo="sreebrata-goswami" source="keywords">Sreebrata Goswami</keyword>, Visiting Professor at CeNSE. As molecules and ions wiggle and move within a material film, they create countless unique memory states, many of which have been inaccessible so far. Most digital devices are only able to access two states (high and low conductance), without being able to tap into the infinite number of intermediate states possible. By using precisely timed voltage pulses, the IISc team found a way to effectively trace a much larger number of molecular movements, and map each of these to a distinct electrical signal, forming an extensive "molecular diary" of different states. "This project brought together the precision of electrical engineering with the creativity of chemistry, letting us control molecular kinetics very precisely inside an electronic circuit powered by nanosecond voltage pulses," explained Goswami. "Tapping into these tiny molecular changes allowed the team to create a highly precise and efficient neuromorphic accelerator, which can store and process data within the same location, similar to the human brain. Such accelerators can be seamlessly integrated with silicon circuits to boost their performance and energy efficiency," the IISc said. IISc researchers said the key challenge that the team faced was characterising the various conductance states, which proved impossible using existing equipment. The team designed a custom circuit board that could measure voltages as tiny as a millionth of a volt, to pinpoint these individual states with unprecedented accuracy. It also turned this scientific discovery into a technological feat. The team was able to recreate NASA's iconic "Pillars of Creation" image from the James Webb Space Telescope data - originally created by a <keyword id="6537818" type="General" weightage="20" keywordseo="supercomputer" source="Orion">supercomputer</keyword> - using just a tabletop computer. They were also able to do this at a fraction of the time and energy that traditional computers would need. Using their AI accelerator, the team recreated NASA's iconic "Pillars of Creation" image from the James Webb Space Telescope data on a tabletop computer - achieving this in a fraction of the time and energy required by traditional systems, it said. The team includes several students and research fellows at IISc. They also collaborated with Stanley Williams, Professor at Texas A&amp;M University and Damien Thompson, Professor at the University of Limerick, it added. The researchers believe that this breakthrough could be one of India's biggest leaps in AI hardware, putting the country on the map of global technology innovation. Navakanta Bhat, Professor at CeNSE and an expert in silicon electronics led the circuit and system design in this project. "What stands out is how we have transformed complex physics and chemistry understanding into groundbreaking technology for AI hardware," Goswami explained. "In the context of the India Semiconductor Mission, this development could be a game-changer, revolutionising industrial, consumer and strategic applications. The national importance of such research cannot be overstated," he said. With support from the Ministry of Electronics and Information Technology, the IISc team is now focused on developing a fully indigenous integrated neuromorphic chip. "This is a completely home-grown effort, from materials to circuits and systems," he emphasised. "We are well on our way to translating this technology into a system-on-a-chip," he added.

IISc scientists develop brain-inspired analog computing platform capable of storing, processing data

June turned out to be a blockbuster month for thematic/sectoral <keyword id="19929240" type="General" weightage="20" keywordseo="mutual-funds" source="keywords">mutual funds</keyword>, which managed to amass Rs 22,351.69 crore during the month, the highest amongst all equity mutual funds. Overall, equity mutual funds saw <keyword id="19967545" type="General" weightage="20" keywordseo="inflows" source="keywords">inflows</keyword> worth Rs 40,537 crore, whereas debt mutual funds saw significant outflows of about Rs 1.07 lakh crore. Within this category, liquid and overnight funds saw maximum outflows. As Himanshu Srivastava, Associate Director – Manager Research, Morningstar Investment Research India noted, since June is a quarter end month, debt-oriented schemes, as expected, witnessed a net outflow. Only funds with a duration profile of less than 1 year, like low duration and money market funds, saw inflows. "The net outflow across the board could also be on the back of investors shifting towards equity markets in expectation of better returns, as the equity markets continue to touch all time high levels after the election results were announced. Between May and June, the number of folios in the debt segment fell from 7,091,977 to 7,013,214, which is a drop by 78,763 folios. In May, the number of folios fell by 26,088 folios". "Moreover, uncertainty over the interest rate cut cycle has also been keeping investors in tenterhooks. With no clarity on the probable timing for the beginning of interest rate cut cycle, investors, for a time being, would have decided to adopt a wait and watch approach and stay away from categories which are exposed to interest rate risks such as Dynamic and Gilt", he continued. <h2>SIP figures touch all-time highs</h2> As <keyword id="22344564" type="General" weightage="100" keywordseo="AMFI-data" source="keywords">AMFI data</keyword> further revealed, the number of new SIPs registered in June 2024 stood at a staggering 55,12,962. With this, the total number of SIP accounts in the country reached 8,98,66,962, inching up marginally from 8,75,89,485 in May 2024. SIP contributions also stood at an all-time high of ₹ 21,262.22 crores in June 2024 as against ₹ 20,904.37 crores in May 2024. The AUM of retail folios, which comprise of equity, hybrid and solution oriented was Rs 36,32,226 crores for June 2024. In <keyword id="22344565" type="General" weightage="20" keywordseo="hybrid-schemes" source="keywords">hybrid schemes</keyword>, multi-asset allocation funds garnered Rs 3,453.12 crore in June, and Arbitrage funds saw inflows worth Rs 3,836.58 crore. The only hybrid scheme to see net outflows were conservative hybrid funds, which shed Rs 130.57 crore. June marked the 40th consecutive month of positive inflows for <keyword id="20210668" type="General" weightage="20" keywordseo="equity-funds" source="keywords">equity funds</keyword> since March 2021. As Feroze Azeez, Deputy CEO, Anand Rathi Wealth Limited highlights, "SIP numbers are hitting peaks every month, accumulating a stellar ₹21,260 crore. This strengthens the fact that Indian investors are resilient and are participating in the long-term growth of the market. The overall market behaviour supported by numbers suggests that investors are strategically positioning themselves with cautious yet optimistic approach for long-term growth". Last month, the Indian MF industry hit the Rs 60 trillion mark for the first time. Exactly 10 years ago, in 2014, the industry's AUM stood at Rs 10 lakh crore. Just 6 months ago, its AUM was Rs 51 lakh crore. Anand Vardarajan, Chief Business Officer - Key Clients &amp; Alternate Investments, Tata Asset Management underlines that is growth is a huge validation when it comes to expanding retail investor's base and investors themselves choosing mutual funds as a reliable investment vehicle for wealth creation. This is further underscored by the fact that the addition in six months is equal to what the industry has seen in ten years ago! <h2>Large and Mid Cap funds find investors </h2>After garnering consistently high inflows in the recent past, small cap funds amassed Rs 2,263.47 crore, a slightly sobering figure. Midcap funds saw inflows worth Rs 2,527.84 crore. On the other hand, inflows in large-cap funds dipped at significantly to stand at Rs 970.49 crore. Far more investments went towards the large and mid-cap funds, which saw inflows worth Rs 2,912.19 crore. Melvyn Santarita, Analyst – Manager Research, Morningstar Investment Research India notes that these substantial net inflows can be attributed to the election results announced earlier in the month. Investors have remained optimistic and invested on policy continuity and anticipated reforms, expecting stability within the coalition government at the Centre. It was this optimism that propelled markets to new all-time highs. The multi-cap category witnessed the second highest net inflows in June 2024 among the equity-oriented categories amounting to INR 4,708.5 crores which was its 3rd highest net inflows ever over a monthly period. Categories which are biased towards the large-caps segment like flexicap (Rs 3,058 crores) and Value (Rs 2,027 crores) saw robust inflows during the month. "While markets have been in a prolonged bull run, there are concerns about overvaluations in certain areas, particularly in the mid and small-cap segments. Consequently, investors may be opting to invest in large-cap segments, where valuations are more favorable", Santarita highlighted. "However, they also continued their investments in mid and small caps, since the returns generated by mid and small cap segment over the last few years haven’t got unnoticed. Hence, the categories having substantial exposure in these two segments have witnessed strong net inflows. It is important to note that mid and small cap segments are highly volatile. While they can give exceptionally high return in up markets, they can fall equally hard in down markets. It’s important for investors to take exposure in these funds in line with their risk appetite", he cautioned. However, Hitesh Thakkar, Acting CEO, ITI Mutual Fund is confident of the immense wealth creation opportunities mutual funds will offer in the coming 5-7 years to retail investors. "Mutual fund is one of the preferred, transparent &amp; cost-effective investment products in India and is well accepted by retail investors. The trend is positive for Mutual fund industry future growth. There are chances that Industry will cross milestone of ₹100 lakh crores AUM by 2030”, he says. <h2><keyword id="19895579" type="General" weightage="20" keywordseo="gold" source="keywords">Gold</keyword> continues to glitter </h2>Net flows in Gold ETFs continued to be robust in June 2024, standing at Rs 726 crores. However, this was slightly below the net flows witnessed in May (Rs 827 crores). "Over the years, Gold has gained prominence as an effective diversifier, prompting many investors to include Gold ETFs in their portfolios. Gold prices also saw some slight correction in June which spurred buying from investors", underlines Santarita. However, the reason why inflows in gold ETFs have remained patchy as compared to equity is due to the significant gap in the returns offered. "Gold has done fairly well over the last year but dwarfs in comparison to how equities. Also, some investors could be choosing to opt for a risk-on approach to investing with the anticipation of a reversal in rate cycle going ahead", he continues.

Mutual fund AUM crosses the Rs 60 lakh crore mark, SIP nos. and AUM touch all-time highs

New Delhi [India], June 23 (ANI): The <keyword id="19915130" type="General" weightage="20" keywordseo="Indian-Space-Research-Organisation" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Space Research Organisation" meta.hostid="153" meta.entityid="Indian Space Research Organisation">Indian Space Research Organisation</keyword> (<keyword id="19915124" type="General" weightage="100" keywordseo="ISRO" source="keywords">ISRO</keyword>) on Sunday achieved another success in the <keyword id="21046346" type="General" weightage="20" keywordseo="Reusable-Launch-Vehicle" source="keywords">Reusable Launch Vehicle</keyword> (RLV) landing experiment (LEX). The third and final test in the series of LEX (03) was conducted at 07:10 IST at the <keyword id="22149303" type="General" weightage="20" keywordseo="Aeronautical-Test-Range" source="keywords">Aeronautical Test Range</keyword> (ATR) in Chitradurga, Karnataka. Following the success of the RLV LEX-01 and LEX-02 missions, <keyword id="22149668" type="General" weightage="20" keywordseo="RLV-LEX-03" source="keywords">RLV LEX-03</keyword> re-demonstrated the <keyword id="21054893" type="General" weightage="20" keywordseo="autonomous-landing" source="keywords">autonomous landing</keyword> capability of the RLV under more challenging release conditions (cross range of 500 m against 150 m for LEX-02) and more severe wind conditions. The winged vehicle, named '<keyword id="21046350" type="General" weightage="20" keywordseo="Pushpak" source="keywords">Pushpak</keyword>', was released from an <keyword id="19992067" type="General" weightage="20" keywordseo="Indian-Air-Force" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Air Force" meta.hostid="153" meta.entityid="Indian Air Force">Indian Air Force</keyword> Chinook Helicopter at an altitude of 4.5 km. From a release point 4.5 km away from the runway, Pushpak autonomously executed cross-range correction manoeuvres, approached the runway, and performed a precise horizontal landing at the runway centerline. Due to this vehicle's low lift-to-drag ratio aerodynamic configuration, the landing velocity exceeded 320 kmph, compared to 260 kmph for a commercial aircraft and 280 kmph for a typical fighter aircraft. After touchdown, the vehicle's velocity was reduced to nearly 100 kmph using its brake parachute, after which the landing gear brakes were employed for deceleration and stop on the runway. During this ground roll phase, Pushpak utilises its rudder and nose wheel steering system to autonomously maintain a stable and precise ground roll along the runway. This mission simulated the approach and landing interface and high-speed landing conditions for a vehicle returning from space, reaffirming ISRO's expertise in acquiring the most critical technologies required for the development of a RLV. Through this mission, the advanced guidance algorithm catering to longitudinal and lateral plane error corrections, which is essential for the future Orbital Re-entry Mission, has been validated. Notably, the RLV-LEX uses multisensor fusion, including sensors like an Inertial sensor, Radar altimeter, Flush air data system, Pseudolite system and NavIC. Notably, the RLV-LEX-03 mission reused the winged body and flight systems as such without any modification, from the LEX-02 mission, demonstrating the robustness of ISRO's capability of design and reuse flight systems for multiple missions. The mission, led by VSSC, was a collaborative effort involving multiple ISRO centres (SAC, ISTRAC, SDSC-SHAR), with significant support from the Indian Air Force (IAF), Aeronautical Development Establishment (ADE), Aerial Delivery Research and Development Establishment (ADRDE), Regional Centre for Military Airworthiness (RCMA) under the Centre for Military Airworthiness and Certification (CEMILAC), National Aerospace Laboratories (NAL), Indian Institute of Technology, Kanpur, Indian aerospace industrial partners, Indian Oil Corporation of India, and Airport Authority of India. S Somanath, Chairman, ISRO/Secretary, Department of Space, congratulated the team for their efforts in maintaining the success streak on such complex missions. Dr S Unnikrishnan Nair, Director of VSSC, emphasised that this consistent success boosts ISRO's confidence in the critical technologies essential for future orbital re-entry missions.

'Pushpak' aces test: ISRO achieves yet another success in Reusable Launch Vehicle (RLV) landing experiment

<keyword id="6367820" type="General" weightage="20" keywordseo="Adani-group" source="Orion">Adani group</keyword> will set up two new cement manufacturing plants, 15,000 MW of renewable power projects and a data centre in Andhra Pradesh as it looks to double down on its presence in the state, <keyword id="1033941" type="General" weightage="100" keywordseo="Karan-Adani" source="Orion">Karan Adani</keyword>, founder family's scion, said on Friday. The apples-to-airport group plans to double the capacity of the two seaports it operates at Krishnapatnam and Gangavaram in the state, he said at the <keyword id="16314204" type="General" weightage="100" keywordseo="Andhra-Pradesh-Global-Investors-Summit" source="Orion">Andhra Pradesh Global Investors Summit</keyword> here but did not give investment numbers. The investments will be on top of the Rs 20,000 crore already invested in the state, which created more than 18,000 direct and 54,000 indirect jobs. <keyword id="76451" type="General" weightage="90" keywordseo="adani" source="Orion">Adani</keyword>, who is the CEO of the group's port company <keyword id="11924019" type="DOMAIN" weightage="20" keywordseo="adani-ports" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="adani ports" meta.entityname="Adani Ports &amp; Special Economic Zone Ltd." meta.entityid="20316" meta.seoname="adani-ports-special-economic-zone-ltd">Adani Ports</keyword> and SEZ Ltd and the son of group founder and chairman <keyword id="111343" type="General" weightage="90" keywordseo="Gautam-Adani" source="Orion">Gautam Adani</keyword>, said the group will set up cement plants with a total capacity of 10 million tonnes per annum at Kadappa and Nadikudi in the state as well as a 400 MW data centre in Visakhapatnam. This is the first public appearance from the Adani family in the country since a damning report by a US short-seller caused a USD 140 billion rout in shares of the group's listed companies. Senior Adani was a notable absentee at a similar investor summit organised by the Uttar Pradesh government in Lucknow last month. Gautam Adani had attended the previous UP investor summit. Karan Adani said currently, Adani Group operates the two largest private ports in Andhra Pradesh - Krishnapatnam and Gangavaram, with a total capacity of 100 million tonnes per annum. "In the next 5 years, not only do we aim to double this capacity, but also transform these ports into industrial port cities," he said. "By developing industrial clusters at Krishnapatnam and Gangavaram and attracting industries, we will be able to reduce the logistics costs drastically, thus making these industries far more competitive globally." The group is also developing 15,000 MW of renewable power projects over the next few years across five districts of Anantapur, Kadapa, Kurnool, Visakhapatnam and Vizianagaram. "Our other investments in the state include cement manufacturing units and data centres. Presently we do not have any cement manufacturing capacity in Andhra Pradesh. Hence, as part of our expansion plans, we will be setting up cement plants in Kadapa and Nadikudi with a total capacity of 10 million tonnes per annum," he said. Also, the group is working on developing a 400 MW of data centre in Visakhapatnam. "These projects will bring further employment opportunities and demonstrate our commitment to the sustainable growth of the state of Andhra Pradesh," he said. He praised Andhra Pradesh for its "excellent infrastructure, large manufacturing base, talented youth, and business-friendly environment." With the second longest coastline in India, the state has been recognised by the World Bank as the No.1 implementer of energy efficiency and conservation programmes. Turning to CSR work being done by Adani Foundation, he said "our footprint in the state of Andhra Pradesh is getting bigger as I speak on this occasion." "We are investing in education, healthcare, nutrition, access to potable water, sports and building an ecosystem of skilling and sustainable livelihood in the state. Our teams are executing programs in Nellore, Tirupati, and Visakhapatnam districts. At present, we have invested over Rs 4200 crore and are touching over 180,000 lives and counting, in the state," he added. Its social intervention and outreach programs across 74 villages include education programs that span across schools, 32 evening education centres with scholarship programs and the distribution of education kits. "We will continue to partner with the government to transform lives &amp; livelihoods in the state. We are honoured to be a part of the sustainable development of the state of Andhra Pradesh," he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/people-living-on-footpaths-human-beings-too-cant-just-order-their-removal-bombay-hc/articleshow/98386789.cms">People living on footpaths human beings too, can't just order their removal: Bombay HC</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/tally-health-unveils-innovative-platform-to-enhance-longevity-in-humans/articleshow/98387387.cms">This US-based startup claims to have cracked the process of reverse aging</a>

Adani to set up cement plants, data centre in Andhra Pradesh

<ul><li>Given <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>’s strategic location and availability of submarine cable landing infrastructure, land supply, vast green energy resources, skilled manpower and favourable regulations, the country has the potential to become an <keyword id="156416" type="General" weightage="50" keywordseo="apac" source="Orion">APAC</keyword> data centre hub. </li><li>The <a href="https://www.researchandmarkets.com/reports/5557791/india-data-center-market-industry-outlook-and?utm_source=GNOM&amp;utm_medium=PressRelease&amp;utm_code=zlj8pc&amp;utm_campaign=1678877+-+India+Data+Center+Market+Outlook+%26+Forecast+Report+2022-2027%3a+Market+by+Area+is+Expected+to+Reach+2%2c200+Thousand+Square+Feet&amp;utm_exec=chdo54prd">India data centre market </a>is expected to grow at a CAGR of 15.07% during 2022-2027. </li><li>We see greater momentum towards building modern, software-controlled data centres through deployment of new-age digital technologies.</li></ul>The Covid-19 pandemic has reinforced the importance of digital transformation across industries. Workforces were shifted to productive work-from-home models almost instantaneously when the pandemic struck. Patients could no longer visit the hospitals and their doctors in person, so telemedicine use cases exploded. Students transitioned to virtual classes, which was never anticipated, resulting in increased usage of HD collaboration apps. Physical retail locations were closed so reliance on e-commerce increased, further driving up data consumption on phones. The impact of Covid-19 coupled with technology advancements such as cloud adoption, Internet of Things (<keyword id="1967280" type="General" weightage="80" keywordseo="iot" source="Orion">IoT</keyword>) devices, high-definition (HD) video apps etc. has put massive pressure on the existing IT infrastructure as huge amounts of data need to be processed and stored optimally. The lights need to be kept on 24/7. Growing need for robust digital infrastructure This increase in usage forced enterprises to take a relook at their digital infrastructure strategy. Captive data centres (DCs) are not sufficient to host digital content of this scale. Also, maintaining captive DCs proved too challenging for organisations because of the limited mobility and access issues during the pandemic. All this has resulted in increased demand for secure, scalable, and connected 3rd-party data centres across India. Further, industry-friendly regulations, data localisation and protection norms, and the government’s digital initiatives and investments have all been implemented to lend a structural push to India’s data centre industry, which is poised to become a key pillar of our digital economy. The data centre capacity is expected to increase multi-fold in the next couple of years. The <a href="https://www.researchandmarkets.com/reports/5557791/india-data-center-market-industry-outlook-and?utm_source=GNOM&amp;utm_medium=PressRelease&amp;utm_code=zlj8pc&amp;utm_campaign=1678877+-+India+Data+Center+Market+Outlook+%26+Forecast+Report+2022-2027%3a+Market+by+Area+is+Expected+to+Reach+2%2c200+Thousand+Square+Feet&amp;utm_exec=chdo54prd">India data centre market </a>is expected to grow at a compound annual growth rate (CAGR) of 15.07% during 2022-2027. Given India’s strategic location in the <keyword id="52011" type="General" weightage="50" keywordseo="south-asia" source="Orion">South Asia</keyword> region and availability of submarine cable landing infrastructure, land supply, vast green energy resources, skilled manpower and favourable regulations, the country has the potential to become an Asia-Pacific (APAC) data centre hub. We are already seeing large investment commitments from major domestic and international players and believe that this trend will only accelerate going forward. Environmental sustainability at the core We are witnessing an unprecedented consensus across the globe on the need for closer alignment between enterprises and individuals on climate change. Adoption of global best environmental, social, and governance (ESG) practices is topping the list of strategic business priorities to stay ahead of the curve. Traditionally data centres have been seen as power guzzlers, consuming a huge amount of power to run mission-critical digital infrastructure. With the government granting ‘infrastructure’ status to data centres, data centre players can get long-term funding at a lower cost and expand a lot faster. Globally, there has been a push by investors who prefer to invest in innovative green data centre technologies. There has also been a shift in consumer preferences towards greener and sustainable alternatives. Adopting greener energy options and replacing outdated or inefficient technologies is not only helping to reduce the cost of running data centres but also to minimise the carbon emissions generated by data centres. At <keyword id="7077052" type="General" weightage="50" keywordseo="nxtra" source="Orion">Nxtra</keyword>, for example, we aim to reach net zero by 2031 and meet over 50% of our power input through renewable energy sources by FY23, thus contributing to <keyword id="15491" type="General" weightage="50" keywordseo="airtel" source="Orion">Airtel</keyword>'s commitment to reduce its carbon footprint. The way ahead Rapid digitization of the Indian economy coupled with the lowest data tariffs in the world and affordable smartphones have fueled the demand for digital content and applications. The rising demand for digitalization has already fueled a clear transition of IT Infrastructure to cloud, a trend that will get further accentuated with the roll out of 5G, IoT infrastructure and Industry 4.0 applications. 5G specifically will bring edge alive and it will demand infrastructure be deployed as near to the customers as possible, to avail critical latency benefit. This will mean a huge surge in demand for network dense edge data centres. It will also enable very high data consumption across video, gaming, real time applications, IoT, virtual reality (VR) etc., which will in turn lead to exponential demand for hyperscale data centre facilities that are connected on a robust network fabric. We see greater momentum towards building modern, software-controlled data centres through deployment of new-age digital technologies. With this, enterprises are racing toward the goal to simplify data centre processes and facilitate smarter and quicker decisions, reduce operational risks, and provide instant services and solutions to customers. <keyword id="7998637" type="General" weightage="50" keywordseo="rajesh-tapadia" source="Orion">Rajesh Tapadia</keyword> is CEO of Nxtra by Airtel. The opinions expressed by the author do not necessarily reflect the views of <keyword id="1857762" type="General" weightage="50" keywordseo="business-insider-india" source="Orion">Business Insider India</keyword>.

The way forward for India’s emerging data centre market

<ul class="summary-list"><li>John Fithian, former head of NATO, formed The Fithian Group, which aims to improve movie production, distribution, and exhibition.</li><li>The group is overseeing the building of a high-tech production studio in Europe and a data-infused direct distribution platform.</li></ul>Three months after John Fithian retired as the head of the movie-theater-lobbyist group The National Association of Theatre Owners (NATO), he was ready to get back to work. What he didn't realize was how much work needed to be done.Fithian worked for over twenty years fighting to keep movie theaters relevant in the constantly changing worlds of entertainment and technology. He was on the front lines for issues ranging from theaters changing to digital projection, to the advent of movies released via streaming, and theaters suddenly shuttering due to the pandemic. Now, Fithian is taking on perhaps his hardest challenge yet: making it easier for more movies to be made and theatrically released.When he announced the formation of The Fithian Group in November, many thought Fithian — along with fellow former NATO execs Jackie Brenneman and Patrick Corcoran, who are founding partners — would be doing an extension of the work they did at the organization: being advocates for the theatrical experience. However, the three have much more ambitious plans."The basic concept is there's a lot of things that we think we can help do to improve production, distribution, and exhibition of movies, things we could never really do at NATO," Fithian told Business Insider in an interview alongside Brenneman and Corcoran late last month. "At NATO, you're representing the entire industry, so you can't take on competitive issues. I think all three of us enjoyed our careers there, but getting the band back together and focusing on business models and competitive things that we think can really improve the business is very exciting."<h2>Fithian Group hopes to put a jolt in the industry with the launch of a production studio in Europe and a direct distribution platform</h2>Though just over four months old, The Fithian Group has found immediate interest from companies seeking assistance within the movie-theater business in everything from mergers and acquisitions to consultation.But there are two projects in particular that Fithian, Brenneman, and Corcoran hope to be the main pillars of their company.<div type="image" title="John Fithian, Jackie Brenneman, Patrick Corcoran" height="1534" width="2300" msid="109010256" hostid="261" sizebytes="163240"></div>One is overseeing the building of a state-of-the-art production studio in Europe that can handle both virtual and traditional physical production. Fithian would not divulge where exactly the studio will be and would not name the partners involved, only saying they are European investors. But he said the plan is for the studio to rival that of UK's famed Pinewood Studio in its capabilities to take on any size of production."Major studios are way below the level of releases that can sustain this industry," Fithian said. "We want to get more of those mid-range and independent movies out to exhibitors and, therefore, out to audiences. Having the latest and best in virtual production technologies will help the moviemaking process be cheaper."The studio is in the early stages of development with no projected construction start date.The other major project is an AI-assisted, data-infused direct distribution platform that filmmakers, independent distributors, and theaters can use to get more movies screened in theaters at reduced costs. For decades, theaters — through bookers — have had an endless dance of negotiating with distributors and studios for titles to play in theaters with little more than, as Fithian put it, "a lot of spreadsheets and a lot of phone calls." This has caused the business to often rely heavily on relationships over data.The platform The Fithian Group is overseeing, which is in the early stages of development, will update that process and provide both sides with more informed decision-making capabilities, the group believes. A theater can use specific data through the platform to show a distributor why a particular type of movie should be played in their house. A filmmaker or distributor can also use the platform to show data to a theater about why their movie should be played there."A distributor in the past would say, 'We never book in that market, we never book that kind of theater,' but the theater now is going to have data showing this audience is here for this kind of movie. Book it," Corcoran said. "We want to take away a lot of the gatekeepers, a lot of the mystery, and open up and democratize the system using technology." <div type="image" title="alamo drafthouse AP" height="2000" width="3000" msid="109010258" hostid="261" sizebytes="264152"></div><h2>More data to better program for audiences would be a welcome tool, one movie theater executive says</h2>Dylan Skolnick, the co-director of Cinema Arts Centre, an arthouse in Long Island, New York, said new releases in his theater haven't consistently filled his house the way they did pre-pandemic. Having more data that shows what titles work best in his market would be beneficial, he added."It's important to draw on data to develop the audience of people who really want to come," Skolnick said when Business Insider told him about the platform The Fithian Group is developing. Skolnick is also the booker of his theater and said there's never much talk about data when having conversations with distributors. "We can slice and dice the internal data we have to some extent, but they will presumably have a lot more data, and a lot more computing power, so it could be great to use that platform — if we can afford it."The founders said the upcoming platform will be available free of charge for movie theaters. A fee and percentage of the box office will be charged to filmmakers and distributors who use the service.Fithian, Brenneman, and Corcoran said they believe the endeavors they are undertaking will put a jolt into the movie business, which since the pandemic has suffered from lackluster box office, fewer titles being released, and not enough variety in the kinds of movies being made."We're not just thinking about sustaining the business the way it is and just participating in helping companies achieve the status quo and breaking in and doing the things they have always done," Brenneman said. "We are at the dawn of a new age of cinema where it doesn't cost almost anything to distribute a film. So there's a promise of digital cinema, which is more movies, more flexibility, more understanding of our audiences, and we're just there right now. There's lots and lots of AI out there to really help target the right movies for the right audiences, and we think we can really work with companies and individuals to get more movies into the theaters and satisfy more audiences."

A movie-theater veteran has launched a company that seeks to jolt the industry with AI and a new production studio

New Delhi, The technology industry in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> reached $253.9 billion in revenue with an addition of $9.3 billion incremental revenue in FY2024 (estimated), growing at 3.8 per cent from FY23, a <keyword id="19955786" type="General" weightage="20" keywordseo="nasscom" source="keywords">Nasscom</keyword> report said on Friday. The technology industry added 60,000 net employees in FY2024 (estimated), with a total headcount of 5.43 million. However, the focus on digital skills continued to remain strong with AI, Cloud, data and cybersecurity emerging as top in-demand skills for the industry, the report noted. The Indian tech services export revenue (excluding hardware) is expected to touch $199 billion in reported currency, a growth of 3.3 per cent compared to FY2023. "We do see FY2025 as the year of capability building as the new normal. Navigating the current challenges will require the industry to focus on 4Rs -- Reshape - accelerate transition to AI-first companies; reskill - make talent the biggest competitive advantage; rewire growth and raise IP creation and R&amp;D investments," said <keyword id="19956660" type="General" weightage="20" keywordseo="debjani-ghosh" source="keywords">Debjani Ghosh</keyword>, President, Nasscom. The engineering research and development (<keyword id="20612065" type="General" weightage="20" keywordseo="erd" source="keywords">ER&amp;D</keyword>) sector alone contributed 48 per cent to the total export revenue addition in FY2024. Global Capability Centres or GCCs continue to invest in India, expanding their service portfolios at the same time new GCCs are setting up operations. The industry saw an addition of 53 new GCCs in 2023, the report said. "While headwinds like global economic slowdown, inflation, recessionary fears and geopolitical conflicts continue to pose challenges, we are confident that the industry will bounce back," said <keyword id="20134134" type="General" weightage="20" keywordseo="rajesh-nambiar" source="keywords">Rajesh Nambiar</keyword>, Chairperson, Nasscom. With digital tech spending expected to grow in 2024, "We will also witness emergence of alternative demand source, customer retention, faster go-to-market strategies in newer markets for enterprises," Nambiar added. With continued investments by the government and enterprises in emerging technologies, India's domestic sector emerged as the great propeller. Focus on application development, automation, verticalised products, software-as-a-service (SaaS), data migration for AI and Cloud enterprise spending are some of the notable drivers to this growth, the report showed. "The industry is committing 60-100 hours per year per employee on upskilling," the findings showed.

Tech industry in India hits $254 bn in revenue in FY24, adds 60K employees

<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> has embraced technology in every field of activity. It is adopting smart farming methods through technology and innovation in the agriculture sector and this may prove to be a game changer in the days to come by substantially raising farmers income. How is this method beneficial? Smart farming involves the application of sensors and automated irrigation practices. It can help monitor agricultural land, temperature and soil moisture. This would enable farmers to monitor crops from anywhere. Moreover, smart farming can help integrate digital and physical infrastructures, which would benefit small farmers. Agri-based startups can reach out to the farmers and help them gain access to such viable and cost-effective solutions. Agri-based, tech-driven startups have been very innovative in assisting farmers and revolutionising farming techniques. They have also addressed one of the most powerful headwinds (climate change) through climate-smart farming. In a unique move, the Indian government is implementing a <keyword id="12166469" type="General" weightage="20" keywordseo="Digital-Agriculture-Mission" source="Orion">Digital Agriculture Mission</keyword> (DAM), which includes India Digital Ecosystem of Agriculture (IDEA), Farmers' Database, Unified Farmers Service Interface (UFSI), funding to the states on the new technology (NeGPA), revamping <keyword id="3182679" type="General" weightage="20" keywordseo="Mahalanobis-National-Crop-Forecast-Centre" source="Orion">Mahalanobis National Crop Forecast Centre</keyword> (MNCFC), Soil Health, Fertility and profile mapping. According to a report published by the National Association of Software and Services Companies (NASSCOM) in 2019, there were more than 450 argi-based tech-driven startups in India as of 2019. This number has skyrocketed in the last two years as the sector witnessed a surge in investments and funding. Agri-based tech-driven startups have been very innovative in assisting farmers and revolutionising farming techniques. They have also addressed one of the most powerful headwinds (climate change) through climate-smart farming. Under the NeGPA programme funding is given to the governments in various Indian states for Digital Agriculture projects using emerging technologies like Artificial Intelligence and Machine Learning (AI/ML), Internet of Things (IOT), Block chain etc. Adoption of drone technologies is being done too. To promote smart farming, the government promotes startups in the agriculture sector and nurtures agri-entrepreneurs. The 'Per Drop More Crop' component of the Pradhan Mantri Krishi Sichai Yojana (PMKSY-PDMC) aims to increase water use efficiency at the farm level through micro irrigation technologies like drip and sprinkler irrigation systems. PMKSY is a scheme initiated by Prime Minister Narendra Modi. The <keyword id="87560" type="General" weightage="20" keywordseo="Indian-Council-of-Agricultural-Research" source="Orion">Indian Council of Agricultural Research</keyword> (ICAR) promotes innovation, extension and education in agriculture. A total of 1,575 field crop varieties were released for different agricultural crops during 2014-21. During 2014-21, 91.43 crore agri-advisories were provided to farmers through mobiles. ICAR developed 187 mobile apps on different farm and farmer related services during 2014-21. The agriculture sector plays a vital role in enriching India's economy. Agriculture accounted for almost 17.8 per cent of India's Gross Value Added (GVA) in 2019- 20. According to the World Bank's collection of development indicators, employment rate in the Indian agriculture sector stood at 41.5 per cent in 2020. From a socio-economic standpoint, agriculture is a vital sector which requires focus and awareness at all levels. According to India Brand Equity Foundation, the rising population and changing diets have created a huge pressure on land in India. Farmers are struggling to keep up as crop yields level off, soil degradation rises, water shortage increases, biodiversity declines, and natural calamities become more frequent. Furthermore, agriculture accounts for almost 14 per cent of India's total greenhouse gas emissions. In the meantime, the NITI Aayog (erstwhile Planning Commission of India) conducted a study entitled "Efficacy of Minimum Support Prices on farmers", in 2016, which found, among other things, that MSP declared by the government has encouraged 78 per cent of the farmers covered under the study for adopting improved methods of farming such as high yielding varieties of seeds, organic manure, chemical fertilizer, pesticides and improved methods of harvesting etc. Additionally, oilseeds, pulses and copra of Fair Average Quality (FAQ) are procured from registered farmers under Price Support Scheme of the umbrella scheme of Pradhan Mantri Annadata Aay SanraksHan Abhiyan (PM-AASHA), as per its prescribed guidelines. The Indian national Budget for 2018-19 had announced the pre-determined principle to keep Minimum Support Price or MSP at levels of one-and-half times of the cost of production. Accordingly, government has increased the MSPs for all mandated Kharif (including wheat), Rabi and other commercial crops with a return of at least 50 per cent over all India weighted average cost of production from the agricultural year 2018-19. Moreover, India's National Crop Insurance Portal (NCIP) is the only source of enrolment for Pradhan Mantri Fasal Bima Yojana (PMFBY), on which farmer applications from various designated sources including banks/financial institutions are entered. Specific cut-off dates have been prescribed for enrolment of farmers, debit of premium, remittance of farmers' premium to concerned insurance company and uploading of data of farmers on NCIP. The <keyword id="603825" type="General" weightage="20" keywordseo="Ministry-of-Food-Processing-Industries" source="Orion">Ministry of Food Processing Industries</keyword> (MoFPI) has been incentivising setting of food processing industries through central sector umbrella scheme �Pradhan Mantri Kisan SAMPADA Yojana (PMKSY), Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) and centrally sponsored scheme �PM Formalization of Micro Food Processing Enterprises (PMFME) scheme across all the country. Under scheme of creation of infrastructure for agro processing clusters, a component scheme of PMKSY, the scheme is aimed at development of modern infrastructure and common facilities to encourage entrepreneurs to set up food processing units based on cluster approach and also to create modern infrastructure for food processing closer to production areas and to provide integrated and complete preservation infrastructure facilitates from the farm gate to the consumer. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/india-must-pitch-for-rupee-as-dollar-distancing-might-be-finally-happening-sbi-ecowrap/articleshow/93513940.cms">India must pitch for Rupee as dollar distancing might be finally happening: SBI Ecowrap</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/snapchat-comes-to-india-with-exclusive-features-heres-how-much-it-costs-and-how-to-sign-up/articleshow/93513880.cms">Snapchat+ comes to India with exclusive features — here's how much it costs and how to sign up</a>

Smart farming can prove to be a game changer in the coming days

<ul><li>Data centres, <keyword id="6713616" type="General" weightage="20" keywordseo="co-living-spaces" source="Orion">co-living spaces</keyword> along with other alternate real estate assets are seeing steady institutional inflows for four years, says Colliers.</li><li>India’s economic outlook is sturdy and the business case for alternative investments will only strengthen, it adds.</li><li>Data centres see almost half of all the institutional inflows into alternate assets. </li></ul>Indian alternate real estate assets like co-living spaces, data centres and more have been attracting domestic as well as foreign capital, along with conventional sectors like residential and office spaces. As of the first half of 2023, as much as $158 million was investment into such assets, says a report by Colliers. The breakout year for investments into these assets was 2022 when it touched $900 million. The key driver to this growth was foreign investments which rose six times last year as compared to 2019. India’s GDP is pegged to grow at 6.6% in 2023 as per IMF and the report adds that at such a time when India’s economic outlook remains sturdy amidst global challenges, the business case for alternative investments will only strengthen. “While core sectors continue to dominate the institutional inflows in the Indian real estate sector, the share of alternatives has risen significantly from 3% in 2019, to 18% during 2022,” said Piyush Gupta, managing director of capital markets &amp; investment services at Colliers. The billion dollar investment idea Since 2019, <keyword id="16069" type="General" weightage="20" keywordseo="data-centers" source="Orion">data centers</keyword> have received $1 billion of institutional inflows, with inflows rising multi-fold in the last five years. During the period under review (2019- H1 2023), data centres accounted for about 51% share in the total investments in alternatives, the report said. “India's data centre market is experiencing rapid growth, fuelled by a remarkable surge in virtualisation, e-commerce, cloud computing, and the prolific generation of public data. As the world's second-fastest-growing digital economy, India is set to witness the IT &amp; Communication sector's doubling by 2025, contributing approximately $400 billion to the Indian GDP,” said Amit Sarin, MD at Anant Raj, a real estate developer. The Government of India has recently enacted the Data Protection Bill to ensure protection of data and this has further boosted the demand for data centres, say experts. Data centres are also witnessing large platform deals between developers and investors who are looking to grow their businesses multi-fold. In May 2023, Lumina CloudInfra, a data centre platform owned and managed by Blackstone’s Real Estate and Tactical Opportunities funds, announced its plan to invest more than $300 million to develop a hyperscale data centre campus in Navi Mumbai. Reliance Industries also partnered with Brookfield Infrastructure and Digital Realty for developing data centres in select locations in India. Co-living — an emerging sector Other alternative asset classes such as life sciences, co-living have also seen increased traction, Colliers say. Alternate assets also include senior housing, holiday homes, student housing and co-living properties. The co-living sector in India too saw expansion during Covid-19 pandemic. “This growth has led to increased organisation within the sector, with only committed and reputable players remaining in the business. The demand for co-living accommodations continues to surge nationwide, indicating a promising outlook,” said Sunny Garg, co-founder &amp; CEO, Crib, a SaaS-based property management solution provider. Co-living also offers higher rental returns compared to traditional rental arrangements, making it an enticing prospect for institutional investors, Garg adds. The trend is also going beyond metros, experts say. “This demand is emerging in tier II cities as well. To meet this growing demand, we have strategic plans to expand our facilities into tier II cities like Ahmedabad,” said Abhishek Tripathi, co-founder, Settl, a co-living space developer.

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