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<ul><li><keyword id="20940216" type="General" weightage="20" keywordseo="Synology" source="keywords" meta.keywordsubtype="org" meta.entityname="Synology" meta.hostid="261" meta.entityid="Synology">Synology</keyword> has showcased its upcoming enterprise solutions in India.</li><li>The Taiwanese <keyword id="20653112" type="General" weightage="20" keywordseo="storage-solutions" source="keywords">storage solutions</keyword> provider has revealed its enterprise-level solution blueprint for India.</li><li>The company has announced new GenAI-powered features for its Office Suite.</li></ul> Taiwanese storage solutions provider Synology has launched its new enterprise-level solution blueprint in India at its Synology Solution showcase held in India. The announcement comes as the first enterprise application blueprint in India and is a significant part of the company’s expansion plans in India. Since 2021, the company has recorded a 600% growth in business sector revenue in India, contributing to a total revenue growth of 350%. The company showcased its latest offerings in data protection, storage, and surveillance, emphasizing solutions designed to address the growing demands of modern enterprises. <h2>Synology showcases new products</h2>The company showcased its upcoming products, including the ActiveProtect appliances, which were first<a href="https://www.businessinsider.in/tech/news/synology-introduces-new-products-aimed-at-data-protection-and-scalability/articleshow/110711086.cms"> announced</a> during the company’s Synology Solution Exhibition 2024. The ActiveProtect lineup includes dedicated backup systems that are optimised for rapid deployment and scalability. This backup solution is aimed at simplifying deployment and it can manage up to 2,500 multi-server environments across multiple sites. <div type="Article" hostid="261" msid="111748677" title="Synology bets big on the Indian market amid strong growth, growing demand" mstype="2" mssubtype="0"></div> “The ActiveProtect series focuses on data recovery and immutability, making it a reliable tool for IT professionals to ensure data security. Its multi-site friendly design aligns perfectly with India's business structure,” said Russell Chen, country manager, SAARC Region, Synology. The company also showcased its scale-out storage solutions and advanced surveillance solutions at the event. “Driven by the demand of technology trends, such as AI, IoT, digital transformation, and so on, Synology has performed exceptionally well in the Indian enterprise market, especially in sectors like government, manufacturing, and media and entertainment. Moving forward, we will continue to dedicate ourselves to meeting the modern storage needs of growing enterprises,” said Michael Chang, APAC sales head, Synology. The developing scale-out solution delivers scale-out storage, supporting both file and object storage and performance growth when adding additional storage servers. Synology also introduced its C2 Surveillance Station, which is a cloud-based video surveillance solution with edge AI and multi-layer encryption. The company is enhancing its <keyword id="19999884" type="General" weightage="20" keywordseo="AI-capabilities" source="keywords">AI capabilities</keyword> with the Synology AI Console, integrating GenAI into the Office Suite. According to the company, this will allow organisations to use the latest large language models (LLMs) while maintaining strict control over data privacy and security. SEE ALSO: <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> <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/snapdragon-8-elite-announced-to-power-iqoo-13-oneplus-13-xiaomi-15-series-and-more/articleshow/114463844.cms">Snapdragon 8 Elite announced, to power iQOO 13, OnePlus 13, Xiaomi 15 series and more</a>

Synology introduces new enterprise solutions, reports significant growth in India

<ul><li>The combined market cap of Adani Group companies eroded by over ₹2.45 lakh crore.</li><li>This comes amid a US probe into Gautam Adani into an alleged bribe charge.</li><li>Adani has been charged over his role in an alleged scheme to pay a $250 million bribe to Indian officials.</li></ul><keyword id="20046345" type="General" weightage="20" keywordseo="Adani-Group-stocks" source="keywords">Adani group stocks</keyword> faced heavy drubbing during the morning trade on Thursday, with the combined market valuation of all the listed firms getting eroded by ₹2.45 lakh crore, as billionaire Gautam Adani has been charged by US prosecutors. Adani has been charged over his role in an alleged years-long scheme to pay a $250 million bribe to Indian officials in exchange for favourable terms for solar power contracts. The stock of the group's flagship firm Adani Enterprises plunged 22.99%, Adani Ports dived 20%, Adani Energy Solutions tanked 20%, Adani Green Energy plummeted 19.53% and Adani Total Gas tumbled 18.14% on the BSE. Shares of Adani Power slumped 17.79%, Ambuja Cements cracked 17.59%, ACC fell 14.54%, NDTV dropped 14.37% and Adani Wilmar declined 10%. Some of the group firms also hit their lowest trading permissible limit or lower circuit for the day. The combined market capitalisation (mcap) of all the ten listed group firms eroded by ₹2,45,016.51 crore during the morning deals. In the equity market, the BSE benchmark Sensex traded 536.89 points lower at 77,041.49 and the NSE Nifty quoted 186.75 points down at 23,331.75. US prosecutors charged Adani, 62, his nephew Sagar and other defendants for paying over $250 million in bribes between 2020 and 2024 to Indian government officials to win solar energy contracts on terms that could potentially bring in more than $2 billion in profit. This, they alleged, was concealed from the US banks and investors from whom the Adani group raised billions of dollars for the project. The complaint charges them with violating the antifraud provisions of the federal securities laws and seeks permanent injunctions, civil penalties, and officer and director bars. US law allows pursuing foreign corruption allegations if they involve certain links to American investors or markets. The Adani group did not immediately respond to requests for comments. "The defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars," Breon Peace, US Attorney for the Eastern District of New York, which brought the case, said in a statement. Adani, chairman of the ports-to-energy Adani Group, his nephew Sagar R Adani, who is an executive director at the conglomerate's renewable energy arm Adani Green Energy Ltd, and its former CEO Vneet Jaain were charged with securities fraud, securities fraud conspiracy and wire fraud conspiracy. The Department of Justice alleged that on several occasions, Adani personally met with an Indian government official to advance the bribery scheme, and the defendants held in-person meetings with each other to discuss aspects of its execution. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/redmi-a4-5g-with-120hz-display-launched-starting-at-8499/articleshow/115479469.cms">Redmi A4 5G with 120Hz display launched starting at ₹8,499</a> <a href="https://www.businessinsider.in/tech/mobile/news/android-16-developer-preview-announced-new-features-timeline-and-everything-you-need-to-know/articleshow/115476441.cms">Android 16 Developer Preview announced – new features, timeline and everything you need to know</a> <a href="https://www.businessinsider.in/tech/news/indian-wearables-market-declines-20-7-in-q3-2024-smartwatch-and-earwear-categories-struggle/articleshow/115447720.cms">Indian wearables market declines 20.7% in Q3 2024, smartwatch and earwear categories struggle</a>

Adani group stocks' combined market cap erodes by ₹2.45 lakh crore, Adani Enterprises tanks 23%

About 68 per cent of IT leaders stated they are gearing up for an increase in <keyword id="107950" type="General" weightage="20" keywordseo="artificial-intelligence" source="Orion">Artificial Intelligence</keyword> (AI) spending over the next 12 months, a new report has revealed. According to the CIO&amp;Leader Annual State of Enterprise Technology report, the versatility of AI is prompting businesses to explore diverse applications in the context of business operations, driving growing interest in using AI. The surge in <keyword id="4292290" type="General" weightage="20" keywordseo="ai-investment" source="Orion">AI investment</keyword> can be attributed to successful outcomes of pilot projects, with 25 per cent of participants forecasting a substantial rise in spending, 43 per cent anticipating a moderate increase, and only 15 per cent are undecided about future spending on AI and Machine Learning. "The marked increase in <keyword id="10028486" type="General" weightage="20" keywordseo="ai-spending" source="Orion">AI spending</keyword> reflects a fundamental shift in enterprise technology investment strategies. It highlights the growing realisation of the transformative impact of AI on business operations and its tangible benefits," said R Giridhar, Group Editor and Head of Research at 9.9 Group. The report surveyed over 300 IT decision-makers from India's top organisations, between July and September 2023. The survey underlined the substantial enhancement of <keyword id="6642321" type="General" weightage="20" keywordseo="ai-capabilities" source="Orion">AI capabilities</keyword>, driven by increased availability of data and cloud-enabled processing power. While business functions like IT operations, sales and marketing, and customer service have been quick to leverage the benefits of <keyword id="7161942" type="General" weightage="20" keywordseo="ai/ml" source="Orion">AI/ML</keyword>, the report noted that supply chain, HR and finance-related processes also have a good potential for using specialised AI/ML solutions. "This survey highlights AI's pivotal role in generating insights, optimising decision-making, and elevating customer experiences. It reflects AI's evolution from a technological tool to a strategic business growth catalyst," said Jatinder Singh, Executive Editor at CIO&amp;Leader. Moreover, the report mentioned that more than one-half of the respondents cited the challenge of selecting the correct technology as a significant barrier to scaling AI deployments. Additionally, 54 per cent of participants are concerned about protecting AI systems from cyber threats, particularly in critical applications. Ensuring AI's compliance with emerging regulatory standards is another significant concern that was highlighted by nearly half of the participants.

Indian enterprises to up AI spending by 68% in 2024: Report

<keyword id="19991358" type="General" weightage="100" keywordseo="Indian-markets" source="keywords">Indian markets</keyword> are navigating choppy waters as global economic shifts, from rate cuts to evolving political climates, create new pressure points across the financial landscape, according to a recent report by ANI attributed originally to the Union Bank of India. The domestic stock and bond markets showed signs of strain, with <keyword id="19910363" type="General" weightage="20" keywordseo="bond-yields" source="keywords">bond yields</keyword> witnessing slight adjustments. India’s 10-year government bond yield dipped to 6.82%, a decrease from the previous session, reflecting cautious investor sentiment as the markets react to shifting global indicators. Meanwhile, the 5-year bond yield remained steady at 6.76%, a signal of lingering hesitation amid economic unpredictability. In the currency market, the rupee faced a notable decline, ending the day at ₹84.3725 against the US dollar, slipping from its prior close of ₹84.2800. Market analysts point to significant capital outflows as a key factor, with investors moving funds to perceived safer assets overseas. This migration has weighed heavily on the rupee, underlining the currency’s vulnerability in an environment of global economic flux. India’s stock market bore the brunt of this volatility, with key indices falling over 1%, effectively erasing the gains of a previous rally. This abrupt drop reportedly reflects renewed investor anxiety, largely triggered by the recent <keyword id="20189882" type="General" weightage="20" keywordseo="US-presidential-election" source="keywords">US presidential election</keyword> results. Experts suggest that the election has introduced a fresh layer of uncertainty, not only for the US economy but for global markets, impacting everything from policy decisions to investor sentiment. Analysts are also keeping a close eye on upcoming decisions by central banks, which will likely shape the path forward for the Indian equities market. Commodities showed contrasting trends, with Brent crude prices falling on lower demand expectations, as economic indicators point toward cautious spending globally. Gold, on the other hand, experienced a modest rise as investors sought refuge in safe-haven assets, highlighting a shift towards risk aversion among market participants. Globally, major central banks made coordinated efforts to sustain economic growth, with the Bank of England (BoE) announcing a 25 basis-point cut, lowering its benchmark rate to 4.75%. The BoE’s Monetary Policy Committee (MPC) largely backed this move to counter inflation, which has been declining, albeit gradually. Across the Atlantic, the US Federal Reserve mirrored this action with its own 25 basis-point cut, a sign of confidence in the ongoing economic recovery. Both rate cuts, though modest, signal a global trend towards caution as economies work to balance growth with stability. In Asia, the People’s Bank of China (PBoC) maintained its supportive stance. Governor Pan Gongsheng sought to reassure foreign investors by reaffirming the PBoC’s commitment to growth-oriented policies. Pan emphasized enhanced communication and pledged to open China’s financial services sector further, aiming to attract more international participants. Europe, meanwhile, faced mixed economic signals. Germany reported a steep 2.5% drop in industrial production in September, signalling a slowdown in manufacturing, while the Eurozone saw a mild 0.5% rise in retail sales, reflecting cautious consumer optimism in the region. Adding another layer to the global economic landscape, the European Union’s Climate Change Service warned that 2024 could be the hottest year on record, underscoring urgent climate challenges just as the UN COP29 climate summit approaches. The summit, set to take place in Azerbaijan, aims to rally increased funding for climate action, though tempered expectations linger in light of recent US political shifts. On the domestic front, Niti Aayog CEO BVR Subrahmanyam spoke about India’s potential role in pivotal global trade agreements, specifically the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). These partnerships, Subrahmanyam suggested, could bolster India’s Micro, Small, and Medium Enterprises (MSME) sector, which currently accounts for 40% of India’s exports, offering a strategic advantage for Indian trade in an interconnected world. As the Indian markets digest these developments, experts believe continued volatility could be the theme for the coming months. (with ANI inputs)

Indian markets under pressure as global rate cuts stir uncertainty, new report says

The generative AI provides more <keyword id="20069513" type="General" weightage="20" keywordseo="opportunity" source="keywords">opportunity</keyword> to the Indian IT sector contrary to the believe of being a threat, highlighted a report by Nuvama Wealth Management. The report noted that although AI <keyword id="19901571" type="General" weightage="20" keywordseo="technology" source="keywords">technology</keyword> may initially disrupt the sector, especially in terms of business operations and billing models, the long-term benefits far outweigh the risks. "We, on the contrary, expect the Indian IT industry to come out stronger from the <keyword id="19906101" type="General" weightage="100" keywordseo="Gen-AI" source="keywords">Gen AI</keyword>-led disruption. We dig deep into various facets of Gen <keyword id="20037918" type="General" weightage="20" keywordseo="AI-adoption" source="keywords">AI adoption</keyword> for enterprises and find that Gen AI would create a mammoth incremental opportunity for <keyword id="20617562" type="General" weightage="20" keywordseo="Indian-IT-services" source="keywords">Indian IT services</keyword>," said the report. The report noted that as more enterprises adopt AI, the need for services such as upgradation of legacy code and data readiness for AI integration will increase, offering Indian IT firms new streams of revenue. The report mentioned one of the most significant opportunities lies in the modernization of <keyword id="21835113" type="General" weightage="20" keywordseo="legacy-systems" source="keywords">legacy systems</keyword>, particularly core banking systems (CBS). It stated that many <keyword id="19912054" type="General" weightage="20" keywordseo="financial-institutions" source="keywords">financial institutions</keyword> still use mainframe systems and outdated programming languages like COBOL. Gen AI enables automated code modernization, which will drive a major demand for Indian IT services to upgrade these systems, creating a long-term revenue stream. "Since most non-Indian (read European) do not have the scale to hire and deploy employees with the ability to code in COBOL (not to mention supply crunch)--they have ceded this opportunity to <keyword id="21817095" type="General" weightage="20" keywordseo="Indian-IT-Services-companies" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian IT Services companies" meta.hostid="261" meta.entityid="Indian IT Services companies">Indian IT Services companies</keyword>" said the report. The report specifically highlighted the "upgradation of legacy code" as a key area of opportunity for IT companies as businesses prepare their systems for AI integration. Gen AI is expected to create new service lines for Indian IT companies, including AI-based <keyword id="19945906" type="General" weightage="20" keywordseo="customer-service" source="keywords">customer service</keyword>, fraud detection, predictive maintenance, and knowledge processing. These AI-driven solutions will allow IT firms to offer higher-value services to clients, boosting revenue and profit margins. "Indian IT companies have always repositioned themselves to continue to do what they do best--service customers. That has provided them with the longevity they have commanded for multiple decades now. We do not see that changing this time as well" the report added. Comparing Gen AI to "a hammer looking for a nail," the report suggested that the technology's applications are still being discovered, but its potential is undeniable. Looking ahead, the report forecasts a strong start to FY25 for Indian IT companies, with growth driven by an optimistic outlook for the Banking, Financial Services, and Insurance (BFSI) sector, increasing technology spending, and large deal ramp-ups.

Gen AI to unlock a "mammoth incremental opportunity" for Indian IT services: Report

The world is undergoing <keyword id="2114062" type="General" weightage="20" keywordseo="rapid-evolution" source="Orion">rapid evolution</keyword>, driven by cutting-edge technologies and transformative advancements. The recent pandemic had further accelerated the adoption of technology and digitisation, revolutionising the way businesses operate. With remote work becoming the norm, it has become crucial for organisations to utilise the full potential of technology, bridge the skill gap and enable their workforce to adapt to the changing environment. The digitisation of <keyword id="471084" type="General" weightage="20" keywordseo="business-operations" source="Orion">business operations</keyword> meant that employees had to familiarise themselves with various technical applications. However, not all employees were equipped for this or possessed the necessary skills to effectively utilise these tools. <cmsannotation type="cmsannotation" annotationid="Upskilling to adapt" comment="subhead" text="Upskilling to adapt"><keyword id="3554713" type="General" weightage="100" keywordseo="upskilling" source="Orion">Upskilling</keyword> to adapt</cmsannotation> This highlighted the importance of a diverse technological skill set among the workforce, rather than mere specialisation in one area. Rajini Athreya, Sr Director, Kantar Insights Division, aptly compared the post-pandemic upskilling era to Abraham Lincoln's quote, "Give me six hours to cut a tree, and I will spend the first four hours sharpening the sword". Athreya emphasised on the need to sharpen one’s skills. "Your sword is your skill," she said, "and sharpening it would be you preparing for the task ahead and upgrading your tools to carry out your mission". Amidst the uncertainties of today’s world, people strive to adapt and remain ahead of the competition through continuous learning. Technology has played a significant role in making learning more accessible, facilitating experimentation and creativity. "Previously, the narrative was reskilling personnel as technology advanced. Fast forward to now, and everything is role-based with individualised intervention," says Krishnan KS, VP learning and development, ITC Infotech. <cmsannotation type="cmsannotation" annotationid="Learning in an evolving world" comment="subhead" text="Learning in an evolving world">Learning in an evolving world</cmsannotation> There has been a marked shift towards role based individualised approach when it comes to upskilling or reskilling the employees. This allows organisations to focus on employees’ specific needs and help them advance in their careers. Talent Management at Titan headed by GD Singh, took a proactive approach for their employees, "Titan created a skill maturity matrix, which calculates skills that we needed to invest for the present and future, both at an organisational level, which will later be broken down to a singular level". This approach ensures that employees receive the necessary skills to stay relevant and competitive. Adding to this, Priya Singh, Associate VP, Technical Learning, Zensar Technologies emphasises the importance of continuous learning, unlearning and relearning. “We’re seeing the Learning &amp; Development function becoming more active and holistic as opposed to the cluster and divide learning that <keyword id="600377" type="General" weightage="20" keywordseo="enterprises" source="Orion">enterprises</keyword> had employed earlier. The holistic approach encompasses a vast range of domains, ranging from resilience, flexibility, and agility to change management and leadership (among several other critical human skills), and, of course, IT skills, technology awareness, and digital savvy," she says. Krishanan KS immediately chimed in, suggesting that the organisations should leverage both split and cluster learning methods as well as holistic approach as this would benefit the workforce. "Employees will flourish in both small and large ways this manner," he said. <cmsannotation type="cmsannotation" annotationid="Fostering a learning culture" comment="subhead" text="Fostering a learning culture">Fostering a learning culture</cmsannotation> To ensure the success of a reskilling and upskilling programme, leaders must cultivate a culture and work environment that values learning new skills, nurtures natural curiosity, and promotes ongoing growth. And culture begins with the top management leading by example. When employees witness their superiors’ dedication to learning, they are more likely to take the initiative to upskill themselves. Anupama Nithyanand, MD and Lead, Learning and Knowledge Management, Accenture India concludes that "Employees will take a stance to learn for themselves if they see their superiors striving to learn and stay relevant." By embracing upskilling and creating a culture of continuous learning, <keyword id="467652" type="General" weightage="20" keywordseo="indian-enterprises" source="Orion">Indian enterprises</keyword> can navigate the ever-changing landscape, remain competitive and empower their workforce to thrive in the digital age. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

Navigating the changing landscape: How Indian enterprises are embracing upskilling

London, <keyword id="19994374" type="General" weightage="20" keywordseo="bharti" source="keywords">Bharti</keyword> Enterprises Founder and Chairman <keyword id="20035984" type="General" weightage="20" keywordseo="sunil-bharti-mittal" source="keywords">Sunil Bharti Mittal</keyword> on Wednesday became the first Indian citizen to be conferred an honorary <keyword id="20763363" type="General" weightage="20" keywordseo="knighthood" source="keywords">Knighthood</keyword> by Britain's King Charles III "for services to UK and India business relations". In a list of honorary British awards unveiled by the UK Cabinet Office, <keyword id="20134935" type="General" weightage="20" keywordseo="mittal" source="keywords">Mittal</keyword> receives a KBE under the Most Excellent Order of the British Empire - one of the highest honours conferred by a British monarch. The 66-year-old entrepreneur said in a statement that he was "deeply humbled" by the gracious recognition from King Charles. "The UK and India have historical relations, which are now entering a new era of increased cooperation and collaboration. I remain committed to working towards strengthening the economic and bilateral trade relationships between our two great nations," Mittal said. "I am thankful to the government of the UK, whose support and keen attention to the needs of business has been critical in making the country an attractive investment destination," he said. The KBE, conferred for a pre-eminent contribution in any field of activity, is awarded in an honorary capacity to foreign nationals. While the Knighthood conferred on UK nationals gives them the title of Sir or Dame, non-UK nationals awarded the honour add KBE (or DBE for women) after their name. Previous Indian recipients of the Honorary KBE include Ratan Tata (2009), Ravi <keyword id="20006262" type="General" weightage="20" keywordseo="shankar" source="keywords">Shankar</keyword> (2001) and Jamshed Irani (1997), conferred by the late Queen Elizabeth II. The investiture ceremony will be conducted by the British High Commissioner to India at a later date, when he will formally hand over the royal insignia to Mittal. The honour recognises Bharti Enterprises' work within the India-UK space, including with the UK government in the field of satellites. Sunil Bharti Mittal led the revival of OneWeb (now Eutelsat), leading a consortium with the UK government and other strategic investors to offer satellite broadband services globally, a company statement notes. Mittal has a strong connection with the UK, as a member of the India-UK CEO Forum and has previously been awarded the Honorary Doctor of Civil Law from Newcastle University and an Honorary Doctor of Laws from the University of Leeds. He is also a member of the Vice Chancellor's Circle of Advisors at the University of Cambridge. Additionally, Sunil Bharti Mittal has served on the Governing Body of the London Business School (LBS) and as a Member of the India Advisory Group at the London School of Economics and Political Science (LSE). In 2019, Bharti's Airtel Africa was listed on the London Stock Exchange and is a constituent of the FTSE100 Index.

Bharti Enterprises chief Sunil Bharti Mittal knighted by King Charles III

Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> on Tuesday asked the automotive industry to bring global best practices to <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>, while also working on green and <keyword id="7340072" type="General" weightage="100" keywordseo="clean-mobility" source="Orion">clean mobility</keyword>. In a written address to the annual convention of the <keyword id="20163832" type="General" weightage="20" keywordseo="society-of-indian-automobile" source="keywords">Society of Indian Automobile</keyword> Manufacturers (SIAM), Modi said the automotive industry will drive even higher economic growth and in turn, thrive on demand growth. "As we shift gears towards our collective goal of a Viksit Bharat by 2047, I am confident that organisations like SIAM will continue to bring together all stakeholders and become a force multiplier in this mission," he said. The prime minister said the road ahead demands that the country's progress is rapid, while also being sustainable. "Working (on) greener and cleaner mobility is a vital step in this direction. It is important that this climate-conscious and sustainable vision resonates with domestic and international partners," he asserted. "Further, at this critical juncture for India and the world, it is essential that our automobile sector set not only an example for others to follow, but also work towards bringing global best practices to India. I am confident that the discussions and deliberations during the Annual Convention will serve as a catalyst for this," he added. He further said, "Through innovation and enterprise, I am sure that the automotive industry will drive even higher economic growth and in turn, thrive on the demand growth that inevitably creates." He said over the last decade, India's automotive sector has witnessed tremendous and unprecedented growth. "This is as much a testament to our nation's expanding economic growth, as it is to the pivotal role played by the automotive industry," Modi said. The success story of Indian mobility is noteworthy. The nation is witnessing the creation of future-ready infrastructure, such as state-of-the-art expressways, high-speed railways and other forms of multi-modal connectivity that reaches every corner, the prime minister noted. "The holistic approach is ensuring that the benefits of growth are not just confined to a few, but shared by all," Modi said.

PM Modi asks automakers to bring global best practices to India, focus on clean mobility

<ul class="summary-list"><li>Indian billionaire Karan Adani announced plans to challenge Chinese dominance in global seaports.</li><li>Adani Ports has received "in-principle" approval for a $2 billion project in Da Nang, Vietnam.</li></ul>Karan Adani, the <a target="_blank" class="" href="https://www.businessinsider.com/gautam-adani-succession-planning-sons-nephews-take-over-retirement-handover-2024-8">son of one of Asia's richest men</a>, wants to loosen China's grip on seaports and transform India into a major trading hub."We are working on making India the center point of the overall supply chain from east to west," said Karan in an interview with <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-08-05/adani-ports-aims-to-grow-india-into-global-trading-hub-in-challenge-to-china">Bloomberg</a> for their "Inside Adani" series.Karan, who is the CEO of Adani Ports, said that the company had received an "in-principle" from the Vietnamese government for a potential $2 billion greenfield project in Da Nang.This would be the latest addition to the Adani Ports' portfolio. In 2022, it <a target="_blank" class="" href="https://www.thehindubusinessline.com/economy/logistics/with-haifa-port-acquisition-adani-sets-its-eyes-on-opportunities-in-europe/article65643118.ece">won a joint bid</a> on the Israel government's tender to buy the Haifa Port for $1.2 billion.It also owns port assets in Colombo in Sri Lanka and the Port of Dar es Salaam in Tanzania.<h2 id="b168f51e-af17-4dfd-93ff-9422bbccd00f">Loosening China's grip</h2>India has long feared that China is surrounding its country with ports. The trade infrastructure in the Indian Ocean is often referred to as China's "string of pearls".China's <a target="_blank" class="" href="https://www.businessinsider.com/china-spends-twice-us-but-belt-road-initiative-losing-steam-2021-9">Belt and Road initiative</a> (also referred to as the New Silk Road) involves buying up multiple ports across the world to build a sea route running from the coast of China through the major transit route of the Indian Ocean and the busiest maritime points of the Middle East, and ending in Europe.<a target="_blank" class="" href="https://www.washingtonpost.com/world/interactive/2023/china-ports-trade-military-navy/">According to the Washington Post</a>, the majority of investments in Chinese-owned ports have been made by companies owned by the Chinese government, which would make the Chinese Communist Party the biggest operator of the ports that fuel global supply chains.The <a target="_blank" class="" href="https://www.cfr.org/tracker/china-overseas-ports">Council on Foreign Relations states</a> that China operates or has ownership stakes in at least one port in every continent except Antarctica. 92 out of the 101 ports were active as of 2023.The <a target="_blank" class="" href="https://www.ft.com/content/a7c2b2f6-e106-436d-a599-cfcc69d18b05">Financial Times</a> cited a report by the Qianzhan Industrial Research Institute stating that China invested at least $40bn in coastal port infrastructure between 2016 and 2021.It also showed that China has 76 port terminals able to support large ships carrying more than 14,000 20ft containers, while south and south-east Asian countries have just 31 between them.<a target="_blank" class="" href="https://www.fortuneindia.com/enterprise/adani-kerala-to-fast-track-vizhinjam-port-completion-with-rs-20000-crore-investment/117536">Fortune India reported</a> that so far, 75% of India's transshipped cargo is handled by ports outside the country.The Adani Group wants to change that.<h2 id="f5591fc4-d44e-43a5-90bb-81fe08ef0678">Making India the world's factory</h2>The company has openly aligned its business interests with Indian Prime Minister Narendra Modi's development agenda of making India the world's factory.Earlier this month, it welcomed the first mother ship in the first phase of its port in Vizhinjam harbor, a project undertaken with the state government of Kerala in India.Expected to reach completion in 2028, the seaport aims to handle up to half of India's container transshipment needs.According to the Bloomberg Billionaires Index, Adani Enterprises, the group's main company, reported revenue of $11.6 billion in 2024, and Karan Adani's father, Gautam Adani, owns a 75% stake.The 62-year-old is worth over $80 billion and <a target="_blank" class="" href="https://www.businessinsider.com/gautam-adani-succession-planning-sons-nephews-take-over-retirement-handover-2024-8">announced his succession plan</a> on Monday — naming his sons Karan and Jeet and nephews Pranav and Sagar as heirs to the Adani Group.The Adani family have previously faced scrutiny for their close ties to Modi, and allegations of preferential treatment from the Modi government.The Adanis frame the association as a desire to improve the country, with the Chairman's Message on the Adani Group website promising to "foray into sectors where the country needs to establish a foothold," and affirming that they will "look at these opportunities as part of our national duty."

An Indian billionaire has an audacious plan to take down part of China's economic masterplan

<ul><li>As many as 1.5-2 million <keyword id="6393272" type="General" weightage="20" keywordseo="msmes" source="Orion">MSMEs</keyword> like manufacturers, wholesalers, retailers and distributors sell online.</li><li>By FY27, they are expected to drive eTailing sales to the tune of $50 billion.</li><li>For now, large brands who make up 5-10% of the e-commerce ecosystem drive 75-80% of the industry sales. </li></ul>The <keyword id="1703232" type="General" weightage="20" keywordseo="Indian-e-commerce-market" source="Orion">Indian e-commerce market</keyword> is ruled by large-scale and mature enterprises in spite of a large number of MSMEs (Micro, Small and <keyword id="126907" type="General" weightage="20" keywordseo="medium-enterprises" source="Orion">Medium Enterprises</keyword>) in the system. As per <keyword id="3359665" type="General" weightage="80" keywordseo="redseer" source="Orion">Redseer</keyword>, there are as many as 1.5-2 million MSMEs who are manufacturers, wholesalers, retailers and distributors on e-commerce platforms. However, their share in gross merchandise value (GMV) pales in comparison to that of large brands. Large brands and companies who make up 5-10% of the e-commerce ecosystem drive 75-80% of the GMV. Meanwhile, medium sized companies make up for 15-25% of sellers yet contribute to only 10-18% of GMV. These sellers are both manufacturers and distributors. Small-scale sellers make up for 70-75% of sellers in the system, with a 5-10% share in GMV. MSMEs are on a growth path and expected to grow faster than the industry’s compounded annual growth rate (CAGR) growth of 25%. They are expected to grow faster than the industry to drive eTailing sales to the tune of $50 billion by FY27. “By adopting online distribution and sales channels, MSMEs are capitalising on the benefits of increased revenues, better customer understanding, and reduced costs,” says Redseer. E-commerce companies are adapting policies to support MSMEs, offering zero/lower commissions, larger user bases, better pricing on logistics, seamless onboarding, effective marketing tools, and powerful seller dashboards, Redseer said. MSMEs in fashion, BPC see good traction ‘online’ A survey by Redseer of around 250 non-grocery sellers indicated that in the first year of these sellers’ operations on eCommerce platforms, online revenue accounted for one-third of total sales. But by the third year, the share of online sales exceeded 50% of the total sales. “MSME sellers in a few prominent online categories such as fashion, beauty, and personal care saw an increase in net profits after they began selling online,” said the report. Around 96% of the MSMEs surveyed across these categories reported an increase in their total net profit after implementing an online sales channel. More than 55% of the sellers across these categories, with a turnover of more than ₹1 crore per annum, reported a net profit increase of more than 15%.

Large brands continue to dominate e-commerce space but MSMEs are growing fast

<ul><li><keyword id="20940216" type="General" weightage="20" keywordseo="Synology" source="keywords" meta.keywordsubtype="org" meta.entityname="Synology" meta.hostid="261" meta.entityid="Synology">Synology</keyword> launched several new products at the Synology Solution Exhibition 2024.</li><li>The company has registered double-digit growth in India in the last three years.</li><li>We speak to the company’s <keyword id="22416016" type="General" weightage="20" keywordseo="joanne-weng" source="keywords">Joanne Weng</keyword> to learn more about the company and its plans in India.</li></ul> Taiwanese <keyword id="20653112" type="General" weightage="20" keywordseo="storage-solutions" source="keywords">storage solutions</keyword> provider Synology<a href="https://www.businessinsider.in/tech/news/synology-introduces-new-products-aimed-at-data-protection-and-scalability/articleshow/110711086.cms"> introduced</a> several new products aimed at offering <keyword id="20285436" type="General" weightage="20" keywordseo="data-management" source="keywords">data management</keyword> and protection needs of business organisations at the Synology Solution Exhibition 2024 held in Taiwan. The company announced products such as ActiveProtect, the new GS Series and surveillance solutions at the event. The company also offers Network-attached storage (NAS) devices. Business Insider India spoke with Joanne Weng, Director of International Business, Synology during the event about the company’s operations in India and its future plans. To start, can you tell us about Synology's mission and its recent focus on the Indian market? Synology's mission has always been to simplify IT management, making it accessible for everyone from tech-savvy users to those with minimal technical expertise. Recently, we've been focusing on expanding our presence in India, recognising the country's immense potential as a key market for our solutions. Can you share some insights into Synology's performance in India? Our performance in India has been impressive, with consistent double-digit growth over the past three years. The Indian market is among the top five for Synology in the Asia-Pacific region, reflecting the growing demand for reliable and scalable data storage solutions. Despite the challenges posed by the COVID-19 pandemic, the demand for our products has remained strong, highlighting their relevance in supporting business continuity. How has Synology built its local presence and support in India? We recognise the importance of being present in the market. We've invested in building a dedicated team to look after the Indian market, working closely with local partners to provide on-ground support and consultation. Our strategy of selling through channels ensures that customers can get the help they need from partners familiar with their specific requirements. How does Synology ensure ease of management for its users? Our solutions are designed for easy setup and management, ensuring minimal hassle for users. We focus on user-friendly interfaces and pre-configured settings, making our products accessible for small and medium-sized businesses (SMBs) as well as large enterprises. This approach helps streamline IT management, allowing users to focus on their core business activities. What steps does Synology take to set itself apart in terms of flexibility and scalability? One of our core strengths is the flexibility and scalability of our solutions. As businesses grow, their data storage needs evolve, and Synology offers scalable solutions that can adapt to these increasing demands. This makes us an ideal choice for enterprises experiencing rapid growth, especially with emerging technologies like AI that require robust data management capabilities. Security is a major concern for businesses today. How does Synology address this? Security is a top priority for us. Our solutions come with end-to-end encryption and other advanced security features to protect data. We have a dedicated PSIRT Team that collaborates with global security organisations and ethical hackers to ensure our products remain secure against evolving threats. Additionally, to strengthen our backup solutions, the upcoming ActiveProtect appliances will include features like air-gapping and isolating backup copies in a secure environment to protect against ransomware attacks. How does Synology maintain a customer-centric approach? Customer feedback is extremely valuable to us and drives our continuous improvement efforts. We work with organizations like Gartner for peer reviews to ensure we are meeting customer expectations and delivering high satisfaction levels. This customer-centric approach is a cornerstone of our strategy, ensuring that our products and services evolve in line with user needs. What can we expect from Synology in the future, especially in the Indian market? Looking ahead, we plan to continue focusing on the Indian market, leveraging our robust product portfolio to meet the growing demands of enterprises. Our upcoming products are set to offer even greater scalability and performance, catering to businesses with extensive data management needs. We're excited about the future and are committed to supporting the evolving needs of businesses in India. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/the-biggest-ipos-in-indias-history-lic-to-paytm-companies-that-have-raised-the-most-funds/articleshow/111690863.cms">The biggest IPOs in India’s history – LIC to Paytm, companies that have raised the most funds</a> <a href="https://www.businessinsider.in/business/auto/news/its-raining-discounts-maruti-suzuki-hyundai-tata-motors-and-others-offer-discounts-on-cars-as-sales-slowdown/articleshow/111688501.cms">It’s raining discounts – Maruti Suzuki, Hyundai, Tata Motors and others offer discounts on cars as sales slowdown</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms">Jio vs Airtel vs Vi recharge plans comparison – plan benefits and price comparison after tariff hike</a>

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An Indian billionaire has an audacious plan to take down part of China's economic masterplan

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Large brands continue to dominate e-commerce space but MSMEs are growing fast

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