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India could see a shift in foreign direct investment (FDI) trends in the second term of Donald Trump (Trump 2.0) as President of the United States, says a research report by the State Bank of India. The report highlighted that under his first term, Trump 1.0, the Trump administration made sweeping regulatory changes aimed at attracting investments back to the U.S., which impacted FDI inflows globally, including India. It added that if similar policies are reintroduced in Trump 2.0 also, it could create challenges for emerging markets like India, which rely on FDI as a significant driver of economic growth. Notably, a recent Kotak report highlighted that a complete Republican control over all arms of the US government would mean increased US earnings via corporate tax cuts, higher tariffs on imports into the US and greater US fiscal deficits. The first two could spell doom for emerging markets like India and China, since foreign investors will make a beeline for investing more money in the US markets, which will come at the cost of intense selloff in emerging markets. However, higher fiscal deficits will eventually lead to the dollar weakening after the initial euphoria dies down. "India may see shifts in foreign direct investments (FDIs) during Trump 2.0. The Trump 1.0 administration saw significant regulatory changes aimed at attracting investments back to the US," the SBI report stated. However, given that India has been gradually diversifying its sources of FDI (foreign direct investments), this trend could serve as a buffer against any potential decline. Moreover, domestic institutional investors have been stepping up big time, maintaining some balance to the massive exodus of FIIs over the past month. So far in November 2024, FIIs have withdrawn Rs 19,849 crores from the cash segment in Indian markets, while DIIs have poured in Rs 14,014.18 crores as of November 10th, 2024. "India is no longer dependent on the traditional sources of FDI inflows... unlike the recent past, FDI is now coming in many new sectors," noted the SBI report. Unlike a decade ago, when most FDI inflows came from a limited number of traditional sectors, India is now attracting investment in a wide array of industries, including renewable energy, sea transport, medical devices, and surgical appliances. Data suggests over the last 24 years, i.e., between April 2000 and June 2024, FDIs have poured in $1,013.4 billion in the Indian economy. Out of this, 67%, i.e., $689.88 billion, has come in just the last 10 years. The report added there are up to 12 emerging sectors showing strong FDI interest, which could help offset any loss of inflows in conventional sectors if there is a shift in global investment patterns under another Trump administration. In the last financial year, the top 5 sectors that have received the highest quantum of FDI inflow include the services sector (finance, banking, insurance, and business) which makes up about 16% of the inflows. This is followed computer software &amp; hardware, which constitute around 15% of total FDI flows. Trading and telecommunications follows with a share of 6% each, and Automobile Industry comes next with a 5% share. In the short term, the potential for increased U.S. tariffs, more restrictive H-1B visa policies, and a stronger dollar could bring some volatility to India's trade and investment landscape. However, in the long term, these challenges might also encourage India to expand its manufacturing capabilities, diversify export markets, and focus on becoming economically more self-reliant. Notably, India has maintained a merchandise trade surplus with the U.S. despite tariffs imposed during Trump's first term. This indicates that Indian exports have remained resilient, and there is potential to strengthen this trade relationship further by capitalizing on emerging sectors and reducing dependency on traditional industries. Suman Chowdhury, Executive Director &amp; Chief Economist, Acuité Ratings &amp; Research Limited cautions that in the medium to long term, the trade relationship with the US may see a structural improvement. "Higher tariff and trade restrictions in the US with China should translate into better opportunities for exports of manufactured goods from India", he adds.

FDIs may shift to US under Trump 2.0 but it is unlikely to severely impact FDIs inflow to India, says SBI Report

The demand for office spaces during the first quarter of 2024 has been strong, registering total leasing of 13.6 million square feet across the top six cities. It is a remarkable 35 per cent increase compared to the same period last year, according to professional services and investment management company Colliers. Although this is a significant drop from the record office space take-up in the last quarter of 2023, the remarkable annual increase is indicative of upbeat occupier sentiment, given the fact that the first quarter is typically slower, Colliers said in a report. Bengaluru and <keyword id="19900176" type="General" weightage="20" keywordseo="hyderabad" source="keywords">Hyderabad</keyword> emerged as frontrunners for demand of Grade A office space in the first quarter of 2024, cumulatively accounting for more than half of the <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> leasing activity. The office market of Hyderabad saw 2.2x space uptake in Q1 2024 as compared to the corresponding quarter last year. This demand was driven by healthcare and pharma and technology sectors. Amongst other major office markets, Mumbai too experienced a notable surge in leasing activity, an impressive 90 per cent yearly rise in Q1 2024. "Hyderabad continues to strengthen its role as a prominent commercial office market in the country. The city offers occupiers including <keyword id="20942407" type="General" weightage="20" keywordseo="global-capability-centers" source="keywords">Global Capability Centers</keyword> considerable price arbitrage compared to other markets. Furthermore, proactive government policies, continuous infrastructure upgrades and a favorable business ecosystem makes Hyderabad a compelling destination for investors, occupiers, and leading developers of commercial real estate in India," said Arpit Mehrotra, Managing Director, <keyword id="21062240" type="General" weightage="20" keywordseo="office-services" source="keywords">Office services</keyword>, India, Colliers. "Within Hyderabad, the trifecta of Hi-Tec City, Gachibowli and <keyword id="19948349" type="General" weightage="20" keywordseo="madhapur" source="keywords">Madhapur</keyword> continued to drive leasing activity in Q1 2024. Of the 2.9 million square feet of Grade A space uptake in the first quarter, over 80 per cent of the demand was concentrated in these three localities," said Mehrotra. During Q1 2024, new supply across top six cities remained steady, at 9.8 million square feet, almost at par with the level seen in Q1 2023. According to Colliers, Bengaluru witnessed significant new project completions, contributing to 45 per cent of the total new supply, followed by Hyderabad at 27 per cent share. With demand outpacing supply, average rentals saw up to 8 per cent uptick on a yearly basis across most of the major markets. "As business sentiments and economic outlook remains positive, domestic occupiers, especially will continue to drive the office market of the country," said Vimal Nadar, Senior Director and Head of Research, Colliers India. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank">OnePlus 12 review: A feature-packed device with promising battery back-up</a><a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank">JSW Group and SAIC Motor’s JV ‘JSW MG Motor India’ set to up production to 3 lakh vehicles a year with a new car every 3-6 months</a><a href="https://www.businessinsider.in/tech/news/asus-rog-strix-scar-16-review/articleshow/108514221.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/asus-rog-strix-scar-16-review/articleshow/108514221.cms" target="_blank">Asus ROG Strix Scar 16 review – powerful gaming laptop with a cool design</a>

Office space leasing in India off to a strong start in Q1-2024

The pre-budget <keyword id="20613906" type="General" weightage="100" keywordseo="economic-survey" source="keywords">Economic Survey</keyword> highlights the need for measures to boost <keyword id="19973896" type="General" weightage="20" keywordseo="talent" source="keywords">talent</keyword> and <keyword id="19959621" type="General" weightage="20" keywordseo="productivity" source="keywords">productivity</keyword> through <keyword id="19974189" type="General" weightage="20" keywordseo="private-sector" source="keywords">private sector</keyword> investment, experts said on Monday. Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> tabled the Economic Survey for 2023-24 in Parliament. Rumki Majumdar, Economist, <keyword id="20006170" type="General" weightage="20" keywordseo="Deloitte-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Deloitte India" meta.hostid="261" meta.entityid="Deloitte India">Deloitte India</keyword> said the Survey has highlighted measures to boost talent and productivity through private sector investment in <keyword id="20077463" type="General" weightage="20" keywordseo="skills" source="keywords">skills</keyword> (in addition to what the government is initiating), physical and digital connectivity and building state capacity and capabilities. She said <keyword id="19910977" type="General" weightage="20" keywordseo="MSMEs" source="keywords">MSMEs</keyword>, agriculture, education and <keyword id="19898684" type="General" weightage="20" keywordseo="employment" source="keywords">employment</keyword>, and upskilling as key pillars for uplifting the masses through jobs, income and skills. Aditi Nayar, Chief Economist and Head - Research &amp; Outreach, ICRA said the Survey stresses that in the medium term, growth needs to be supported by the private corporate sector as well as the state governments. On inflation, she said that "managing inflation is not just the prerogative of the RBI and its MPC, and would require active intervention by the Centre, especially in the arena of food price management. The realisation of both these paradigms is crucial to ensure an optimal growth-inflation mix over the medium term."

Survey highlights need for private investments to boost talent, productivity: Experts

<ul class="summary-list"><li>Universal basic income is quickly evolving from a fantastical idea into economic reality.</li><li>Several countries are testing it and figures like Elon Musk and MrBeast have endorsed the concept.</li></ul>Universal basic income has made <a target="_blank" href="https://www.businessinsider.com/universal-basic-income-works-red-state-blue-state-2023-10">giant strides</a> from its origins as a utopian vision toward becoming economic reality.Basic income trials have been conducted in countries as varied as Kenya, Finland, India, and Canada. Tesla's <a target="_blank" href="https://www.businessinsider.com/elon-musk">Elon Musk</a>, YouTube star <a target="_blank" href="https://www.businessinsider.com/mrbeast-youtube-cash-giveaway-universal-basic-income-ubi-givedirectly-philanthropy-2024-6">MrBeast</a>, and former Labor Secretary Robert Reich are among the high-profile champions of the concept.Yet the idea of handing out money with no strings attached strikes many people as alien, questionable, or even just plain wrong.Here's a closer look at UBI, its history, and its potential advantages and possible downsides.<h2 id="88e18507-5ec2-4678-9f7f-a7f00e3ebcb6">What is UBI?</h2>A universal basic income is generally defined as a recurring cash payment to all individuals in a population regardless of their wealth, with no restrictions on how the money is spent and no repayment expected.Experiments have been relatively small-scale, and many have targeted lower-income populations rather than everyone to keep costs down, garner political support, and maximize the payments' impact on poverty.<h2 id="2cab9877-5f1d-4124-9c0d-010624c56238">Where did the idea come from?</h2>People have proposed <a target="_blank" href="https://www.businessinsider.com/what-is-basic-income-2016-8">variations of UBI</a> since at least the 1500s, when Spanish humanist Juan Luis Vives called for everyone to be given food even if they'd gambled away their money, as he believed nobody should die of hunger.American revolutionary Thomas Paine proposed a national fund in 1797 that would pay some money to citizens every year after they turned 21.Dr. Martin Luther King Jr. touted the concept in 1967. The civil rights leader hailed it as a tool to redress historical racial discrimination and temper widespread poverty and unemployment in the Black community.Legendary economist and free market champion Milton Friedman defended a similar idea: a negative income tax. He said it might help the poor without distorting the market, and lessen the government's role in determining who deserves support.The list of proponents has expanded in recent years to include <a target="_blank" href="https://www.businessinsider.com/where-us-politicians-stand-on-universal-basic-income-2017-9">Sen. Bernie Sanders</a> of Vermont, technocrat <a target="_blank" href="https://www.businessinsider.com/andrew-yangs-on-universal-basic-income-versus-higher-wages-2021-4">Andrew Yang</a>, OpenAI CEO <a target="_blank" href="https://www.businessinsider.com/openai-sam-altman-universal-basic-income-idea-compute-gpt-7-2024-5">Sam Altman</a>, and many other high-profile individuals.<div type="image" title="Sen. Bernie Sanders at the Capitol last month." height="1333" width="2000" msid="111489364" hostid="261" sizebytes="71634"></div><h2 id="3035fc2b-8926-468e-a03e-dbe3b64d5716">What's the point of UBI?</h2>Proponents of UBI say it reduces poverty, strengthens the social safety net, promotes health and happiness, and combats the stigma around welfare.Simply giving people money can help them to afford basics like groceries, clothing, shelter, and transportation. Covering the costs of daily life has <a target="_blank" href="https://markets.businessinsider.com/news/stocks/big-short-michael-burry-jpmorgan-consumer-inflation-rates-banking-crisis-2023-4">only grown harder</a> in recent years, as food, fuel, and rent inflation has jumped to 40-year highs, and credit card, car loan, and mortgage payments have ballooned due to surging interest rates.A guaranteed income can also give people the confidence, security, and freedom to know they won't starve or be evicted if they lose their jobs or quit. They might want to start a business, stay at home to raise their children, care for relatives, invest in training or education, or manage a sickness or disability.Regular cash payments may help to relieve the stress and worry of paying bills, saving for college or retirement, or losing access to means-tested support. Basic income recipients in a Finnish trial <a target="_blank" href="https://www.businessinsider.com/finlands-basic-income-trial-people-happier-jobs-coronavirus-spain-2020-5">reported</a> higher life satisfaction, improved health, and lower levels of depression and loneliness.Making universal payments might also lessen the stigma around receiving government benefits, avoid some of the costs and mistakes of administering means-tested support, and provide a safety net for the wealthy if they run into financial trouble.As for Musk and other technologists, they <a target="_blank" href="https://www.businessinsider.com/elon-musk-universal-basic-income-ubi-ai-automation-unemployment-quotes-2024-6">predict</a> that artificial intelligence will render millions of workers <a target="_blank" href="https://www.businessinsider.com/anthropic-ceo-dario-amodei-universal-basic-income-ubi-ai-inequality-2024-6">obsolete</a>, making it necessary to provide a basic income for those out of work to survive.<h2 id="40019cc1-7874-417b-9bf5-325bda2055d0">What do critics say?</h2>Critics say that UBI <a target="_blank" href="https://www.businessinsider.com/finland-basic-income-experiment-reasons-for-failure-2019-12">erodes the incentive to work</a>, encouraging laziness and idleness. They also warn that recipients might waste the money on shopping, vacations, gambling, liquor, cigarettes, or drugs.Other skeptics question why wealthy people should receive money they don't need, and caution that paying it for it would require higher taxes or budget cuts.Dave Ramsey has criticized the concept as "<a target="_blank" href="https://www.businessinsider.com/universal-basic-income-ubi-dave-ramsey-show-karl-marx-playbook-2024-7">straight out of the Karl Marx playbook</a>." The personal finance guru and radio host bemoaned that people build character by overcoming challenges instead of getting bailed out.It's quite possible that UBI saps work ethic. But it might also lead to higher wages, job satisfaction, and <a target="_blank" href="https://www.businessinsider.com/universal-basic-income-carbon-taxes-global-gdp-sustainability-2024-6">productivity</a>, as people could afford to be more picky about employment and hold out for better pay.<h2 id="17003560-2c7a-4c26-8c48-53681f74a829">How do supporters respond?</h2>Regarding <a target="_blank" href="https://www.businessinsider.com/how-people-spend-universal-basic-income-ubi-food-housing-transportation-2024-4">how the money is spent</a>, UBI fans say that's not a serious concern."The evidence from trials is that participants tend to spend most of the money received on the basic needs of everyday life," Jack Kellam, the head of operations at Autonomy, told Business Insider.Moreover, an <a target="_blank" href="https://guaranteedincome.us/">analysis</a> of 30 pilot programs in the US involving nearly 8,300 participants found more than half the cash grants went toward food and groceries, transportation, housing, utilities, healthcare, and education.<div type="image" title="mrbeast" height="5600" width="4480" msid="111489362" hostid="261" sizebytes="3465620"></div>Other experts say people's spending shouldn't be scrutinized. Douglas MacKay, an associate professor of public policy at UNC-Chapel Hill, told BI that trying to control spending is "paternalistic" and fails to treat recipients with dignity — as adults and equals who are "fully capable of governing their own lives."Moreover, there's strong evidence that poorer people don't use drugs, alcohol, or tobacco at higher rates than wealthy people, and drug addiction is often triggered by mental illnesses like depression."To the extent that UBI relieves people from misery, we should expect it would decrease 'vice' spending," Karl Widerquist, a philosophy professor at Georgetown University-Qatar and the author of several books about UBI, told BI.As for the rich getting richer and the <a target="_blank" href="https://www.businessinsider.com/basic-income-gbi-ubi-low-income-americans-afford-housing-food-2024-5">question of funding</a>, Kellam said that most UBI advocates envision it alongside a more progressive tax system."Many of the wealthiest individuals would be 'net' losers in the system: though they receive payments, because they would be taxed more, they would overall be less well off," he told BI.<h2 id="7a7d8ed3-15a2-4d5e-80bb-fb75eb3b8e19">An open question</h2>Universal basic income remains a largely theoretical idea that could have significant — and unpredictable — impacts on wealth inequality, human welfare, labor markets, and entire economies.But tests and trials at different scales and across myriad countries and contexts are putting the concept through its paces, and promise to reveal whether it's an effective way to combat poverty, fight stigmas, deal with AI, and help people live healthier, happier, and more stable lives.

Universal basic income has gone from utopian vision to economic reality. Here's what you need to know about UBI.

<ul class="summary-list"><li>Gen Z's 'decisive decade' of 14 to 24 years can significantly impact their socioeconomic future.</li><li>Educational attainment and mental health can shape young adults' fortunes.</li></ul>Gen Zers are in their teenage and young adult years and it'll shape their fortunes for decades to come.<a target="_blank" href="https://www.businessinsider.com/gen-z-disconnected-youth-retirement-no-income-buy-home-anxiety-2024-4">The generation</a> — who are between the ages of 12 and 27 according to the <a target="_blank" href="https://www.pewresearch.org/short-reads/2019/01/17/where-millennials-end-and-generation-z-begins/">Pew Research Center's definition</a> — grew up alongside <a target="_blank" href="https://www.businessinsider.com/gen-z-loneliness-technology-ai-social-media-spending-inflation-millennials-2023-12">evolving technology</a>, <a target="_blank" href="https://www.businessinsider.com/gen-z-gender-gap-young-men-women-dont-agree-politics-2024-1">major elections</a>, and <a target="_blank" href="https://www.businessinsider.com/gen-z-hit-hardest-pandemic-jobs-dating-education-depression-lockdown-2021-12">the pandemic</a>. Now, they are getting driver's licenses, attending graduation ceremonies, decorating first apartments, and starting <a target="_blank" href="https://www.businessinsider.com/gen-z-hustle-generation-jobs-work-side-hustle-freelance-2023-5">new jobs</a>.The ages of 14 to 24, specifically, are what researchers are calling the "decisive decade." According to an <a target="_blank" href="https://www.brookings.edu/articles/the-decisive-decade-understanding-the-trajectories-of-14-to-24-year-olds/">April report</a> from the Brookings Institution, Gen Zers' life circumstances during those years can have significant impacts on their socioeconomic future.America is already seeing a <a target="_blank" href="https://www.businessinsider.com/disconnected-youth-a-tale-of-2-gen-zs-in-america-2024-4">split among Gen Zers </a>— those who are getting degrees and beginning careers, and "<a target="_blank" href="https://www.businessinsider.com/gen-z-increasingly-no-income-cannot-retire-or-buy-houses-2024-3">disconnected youth</a>" who are not enrolled in school or working, a cohort that includes <a target="_blank" href="https://www.pewresearch.org/short-reads/2019/10/29/share-of-young-adults-not-working-or-in-school-is-at-a-30-year-low-in-u-s/">about 14%</a> of 18-to-24-year-olds.Many young people are feeling <a target="_blank" href="https://www.businessinsider.com/gen-z-job-satisfaction-unhappy-work-salary-promotion-loyalty-2024-2">anxious about adulthood</a>. And there are three key reasons Gen Zers' decisive decade will shape their ongoing mental and financial health.<h2>Education has a major impact on future employment</h2>Educational attainment will inform Gen Zers' <a target="_blank" href="https://www.businessinsider.com/gen-z-hustle-generation-jobs-work-side-hustle-freelance-2023-5">future income levels</a>, the Brookings report found, because college graduates tend to land higher-paying jobs.Based on data from the Census Bureau's Annual Social and Economic Supplement, the report looked at Americans' education and employment milestones between ages 14 and 24.Just 31% of young people had a bachelor's degree or higher by age 24, while 58% worked full time between 2015 and 2019, even before the pandemic disrupted work and school patterns for millions of Americans. The researchers also noted that about there were about 2.5 million fewer high school graduates enrolled in college in 2022 compared to 2010.This growing disconnection with education and the workforce correlates to future income. Urban Institute, a research firm, found that a 10% increase in the share of time a young adult spends disconnected is associated with a <a target="_blank" href="https://www.urban.org/urban-wire/why-we-need-reach-young-people-who-are-disconnected-school-and-work">$7,000 – $9,000 decrease</a> in family income by the time they turn 30."If we empower more young people who have within their own lives, they're quite capable of making strong decisions within this period that can have lifelong benefit," Ian Rowe, a senior fellow at the nonprofit policy research firm American Enterprise Institute, said at an April 29 Brookings event.Continued education has other benefits too, researchers found: lower rates of teen pregnancy, substance abuse, homelessness, and criminal justice involvement, as well as improved mental health levels.<h2>Unhappiness can shape long-term mental health</h2>Gen Zer's mental health outcomes are shaped by their involvement in school and work, Brookings researchers said. And, the generation is increasingly feeling the weight of isolation and financial stress.At work, many Gen Zers are <a target="_blank" href="https://www.businessinsider.com/remote-work-fueling-gen-z-job-anxiety-stress-mental-health-2023-12">struggling with anxiety</a>, work-life balance, and burnout — more so than millennials, Gen X, and boomers. Unhappiness and social isolation are especially affecting Gen Zers who <a target="_blank" href="https://www.businessinsider.com/gen-z-loneliness-spends-money-to-make-friends-2023-9">reached adolescence during the pandemic</a>. And it's hurting their happiness levels.In the <a target="_blank" href="https://worldhappiness.report/ed/2024/">2024 World Happiness Report</a>, young adults in the US reported some of the lowest levels of life satisfaction in years, ranking 62nd out of 143 countries for people under 30."Happiness, well-being and greater mental health is predictive of a whole bunch of positive outcomes," Lara Aknin, an editor at the World Happiness Report, said at the Brookings event. "Graduating from high school is a meaningful milestone, but it's also satisfaction with your relationship and earnings later on."Additionally, Brookings found that more young people are <a target="_blank" href="https://www.businessinsider.com/gen-z-living-with-parents-save-money-housing-crisis-cost-2024-2">living with their parents</a> than previous generations. This trend tends to alleviate some mental health risks and reduce adult poverty levels.Gen Zers' choice to live in multigenerational households is also a strategy to alleviate financial stress, especially as many young people face staggering student loan costs, rising home prices, and growing inflation levels. 40% of young adults living with their parents cite financial reasons, per 2022 <a target="_blank" href="https://www.pewresearch.org/social-trends/2022/03/24/financial-issues-top-the-list-of-reasons-u-s-adults-live-in-multigenerational-homes/">Pew Research Center data</a>.<h2>Not all Gen Zers start on equal footing</h2>To be sure, Gen Zers' education, work, and financial outcomes are also dependent on their life circumstances in childhood. Brookings researchers reported that family income level, gender, and race can also determine young people's futures.Students who come from low-income backgrounds are less likely to enroll in college, the report found: 89% of students who grew up in the top income quintile enroll in higher education, compared with 51% of those from lowest income quintile.21-year-olds from top-quintile families are also twice as likely to have met major milestones like graduating from high school and being enrolled in college than those from bottom-quintile families.These trends also vary depending on a young adult's gender and race, researchers said. Women who are disconnected during their "decisive" ages of 16 to 24 are four times more likely to become young mothers than those who are working or enrolled in school.Black and Hispanic young adults are also more likely to be disconnected. About a fifth of Black and Hispanic 24-year-olds aren't working or employed, compared to 14% of white and Asian 24-year-olds, the report found.Are you a Gen Zer who isn't employed or enrolled in school? Are you a parent of disconnected youths? Reach out to this reporter at <a target="_blank" href="mailto:allisonkelly@insider.com">allisonkelly@insider.com</a>.

Many Gen Zers are teetering on the edge of economic security in their 20s. Here's why it's such a 'decisive decade.'

In a <keyword id="100810" type="General" weightage="20" keywordseo="davos" source="Orion">Davos</keyword> session themed 'Technology in a Turbulent World,' <keyword id="19918827" type="General" weightage="100" keywordseo="sam-altman" source="keywords">Sam Altman</keyword>, CEO of Open<keyword id="6355999" type="General" weightage="20" keywordseo="AI" source="Orion">AI</keyword>, delved into the future trajectory of artificial intelligence (AI), offering profound insights into its role as a driving force for global economies and societies. Altman highlighted the theme of 'Artificial Intelligence as a Driving Force for the Economy and Society,' a pivotal focus at the <keyword id="20020435" type="General" weightage="20" keywordseo="world-economic-forum" source="keywords">World Economic Forum</keyword>'s Annual Meeting. Altman said, "Even with its very limited current capability and its very deep flaws, people are finding ways to use this tool for great productivity gains or other gains and understand the limitations. People understand tools and the limitations of tools more than we often give them credit for." He added, "People have found ways to make ChatGPT super useful to them and understand what not to use it for, for the most part. AI has been somewhat demystified because people really use it now. And that's always the best way to pull the world forward with new technology." Reflecting on a year where generative AI took centre stage, Altman's quotes from the session shed light on the potential and challenges lying ahead. Altman acknowledged the current limited capabilities and flaws of AI but emphasised people's ability to harness it for significant productivity gains. Users understand the tool's limitations and find ways to make it useful, demystifying AI as it becomes more widely used. Addressing the issue of trust in technology, Altman expressed optimism that AI systems would evolve to explain their reasoning in natural language. Altman said, "I have a lot of empathy for the general nervousness and discomfort of the world towards companies like us... We have our own nervousness, but we believe that we can manage through it and the only way to do that is to put the technology in the hands of people. Let society and technology co-evolve and sort of, step by step, with a very tight feedback loop and course correction, build these systems that deliver tremendous value while meeting safety requirements." This would enable users to understand the steps taken by AI from point A to B, fostering transparency and accountability. Contrary to concerns that AI might replace human-centric activities, Altman drew a parallel with chess. Despite Deep Blue's victory in 1997, human interest in chess has surged, highlighting our innate connection with human achievements and creativity. Altman emphasised that humans possess better tools for understanding each other's desires. Altman predicted a shift in job roles, with AI enabling individuals to focus more on generating ideas and curating decisions. Jobs would operate at a higher level of abstraction, requiring individuals to coordinate and make decisions based on a broader understanding of capabilities. Altman expressed optimism regarding the alignment of AI values, highlighting the progress made in ensuring safety between GPT-3 and GPT-4. "When a user says, 'Hey, ChatGPT, what happened at Davos today?' we would like to display content, link out to brands of places like the New York Times or the Wall Street Journal or any other great publication and say, 'Here's what happened today' and then we'd like to pay for that. We'd like to drive traffic for that," said Altman. However, the challenge lies in determining who decides these values, considering societal differences. Scrutiny of AI technology is viewed positively, and Altman stressed the tech industry's responsibility to gather input from society. Altman made distinctions between displaying content and using it for training AI models. He suggested the development of new economic models to compensate content owners when their data is used for training models, emphasizing the need for a shift in the current conversation about AI training. The session, part of the World Economic Forum's Annual Meeting, provided a comprehensive view of AI's evolving role and its implications for economies and societies globally. Panellists, including prominent figures like <keyword id="20245202" type="General" weightage="20" keywordseo="marc-benioff" source="keywords">Marc Benioff</keyword>, Julie Sweet, Jeremy Hunt, and Albert Bourla, joined Altman to explore these critical issues.

OpenAI CEO Sam Altman unveils vision for AI's impact on economy and society at WEF Davos

The Indian <keyword id="46964" type="General" weightage="20" keywordseo="it-sector" source="Orion">IT sector</keyword>, which has seen contraction in <keyword id="6357342" type="General" weightage="20" keywordseo="hiring" source="Orion">hiring</keyword> amid <keyword id="61483" type="General" weightage="20" keywordseo="global-economic-slowdown" source="Orion">global economic slowdown</keyword> and <keyword id="6412154" type="General" weightage="20" keywordseo="funding-winter" source="Orion">funding winter</keyword>, is likely to witness a positive turnaround with 8-10 per cent increase in hiring in 2024, a new report showed on Wednesday. Overall, the hiring in the IT sector is expected to surge by 12-15 per cent in CY 2024, especially due to the surge in global capabilities centres (GCCs) and global economy settling down comparatively, according to talent solution company NLB Services. "From a quarter perspective, the initial quarter will notice an average 8-10 per cent growth in hiring, followed by Q2 and Q4 demand percentage rising up to 12-14 per cent," said Sachin Alug, CEO, NLB Services. The IT sector has been estimated to have witnessed a growth of 40-45 per cent of jobs in 2023 as compared to 2022. In 2024, hiring is further expected to surge by 15-20 per cent. Owing to global recession and shift in business synergies, the Indian IT sector witnessed a dip during the initial quarters of this year. In fact, in Q1 FY24, IT witnessed the sharpest contraction in headcount in the last three years as companies were experiencing the heat of the <keyword id="29405" type="General" weightage="20" keywordseo="slowdown" source="Orion">slowdown</keyword> in projects, according to the report. "However, the third quarter of this fiscal year is bringing a favourable outlook. Promising prospects are foreseen in green technology, electric vehicles, and an increased emphasis on AI and cybersecurity," Alug informed. In Q2 FY24, the key IT firms reported a 3-10 per cent average increase in their net profits. The positive growth trajectory was largely influenced by IT players securing strong new wins, expanding multi-year renewals with existing clients, and growing investment into technology, etc. "Despite the initial slowdown some of the skill sets which continued to shine in prominence in this segment included software development (with 28 per cent demand), SAP expertise (12 per cent demand), automotive design (14 per cent demand), and testing skills (12 per cent demand). "Some of the most in-demand IT skills next year are expected to include AI/ML experts, DevOps specialists, full-stack developers, cybersecurity experts, Blockchain developers, Cloud architects, UI/UX designers and so on. "Overall hiring in the IT sector is expected to surge by 12-15 per cent in CY 2024, especially due to the surge in global capabilities centres (GCCs) and global economy settling down comparatively," said Alug.

Hiring in Indian IT sector likely to see turnaround with 8-10% growth in 2024

<ul><li>The new fund offering (<keyword id="35472" type="General" weightage="20" keywordseo="nfo" source="Orion">NFO</keyword>) opens on December 1, 2023. </li><li>The fund is designed to strategically invest in <keyword id="62614" type="General" weightage="20" keywordseo="sectors" source="Orion">sectors</keyword> benefiting from India's <keyword id="6386662" type="General" weightage="20" keywordseo="economic" source="Orion">economic</keyword> shifts. </li><li>The fund will adopt a bottom-up strategy, selecting stocks across market caps. </li></ul>Axis Mutual Fund has launched the <keyword id="19658385" type="General" weightage="20" keywordseo="Axis-India" source="Orion">Axis India</keyword> <keyword id="5382838" type="General" weightage="20" keywordseo="manufacturing-fund" source="Orion">Manufacturing Fund</keyword>, an open- scheme that mirrors India's manufacturing landscape, and is benchmarked against the Nifty India Manufacturing TRI. The new fund offer (NFO) opens on December 1st, 2023, and seeks to enable investors to tap into the potential growth of India’s manufacturing sector, which is anticipated to expand in the years ahead. Investors can participate in the NFO until December 15, 2023. Why manufacturing as a theme? India is heading toward an exciting future, embracing modern technologies and focusing on sustainable growth. Government actions, along with labour and tax changes, position India as a competitive global manufacturing centre. India relies heavily on consumption, making it less prone to global economic shifts. The surge in growth is fueled by enhanced economic confidence driving product demand and efficient use of production capabilities. Hence, manufacturing as a theme holds a lot of promise. Axis India manufacturing fund's strategic focus The fund is designed to strategically invest in sectors benefiting from India's economic shifts, aiming for a diverse portfolio reflecting the depth of India's manufacturing strength. Encompassing sectors like capital goods, consumer durables, textiles, and pharmaceuticals, the fund will offer a comprehensive investment avenue within India's manufacturing landscape. Investment strategy across economic segments The fund targets three companies across three sectors of the Indian economy: Investments (Capex cycle): Companies boosting production through investments in equipment and research. Consumption: Industries witnessing increased demand due to rising incomes and a trend towards premium products. Net exports: The fund will be focused on companies benefitting from India's global supply chain integration. Investment approach and focus The fund will adopt a bottom-up strategy, selecting stocks across market caps. Emphasising active sector allocation and a 'Quality' investing style, it also aims to look at underrepresented segments in Indian listed markets. Says B Gop Kumar, MD and CEO, Axis Asset Management Compnany (AMC), "This thematic fund, is designed to capitalise on India’s growing momentum, focusing on sectors that stand to redefine India’s industrial contours.” Currently there are only a few manufacturing funds in India with a one and three year track record. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ff0000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Funds </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ff0000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1-year return (%) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ff0000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3-year return (%) </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Sun Life Manufacturing Equity Fund - Direct Plan </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.33 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.99 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential Manufacturing Fund - Direct Plan </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">32.20 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">31.86 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Manufacture in India Fund - Direct Plan </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.62 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-- </td></tr></tbody></table> Source: Value Research “Investors should not take positions into these thematic funds for more than 10% of their portfolio allocation. That way if it doesn’t work out, they won’t face they won’t face a large drawdown on their portfolio,” says Abhishek Kumar, founder and chief<a href="https://business.outlookindia.com/invest/investment"> </a>investment advisor at SahajMoney, a financial planning firm. This is because thematic funds like manufacturing funds can carry higher risks due to their focused investment in specific sectors or trends. Their success hinges on the performance of those particular themes, making them more vulnerable to market fluctuations and industry-specific challenges.

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