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<ul class="summary-list"><li>Rolls-Royce is in talks with potential customers for its nuclear reactors, per the Financial Times.</li><li>Rolls-Royce has been working on so-called micronuclear reactors for over three years.</li></ul>Rolls-Royce is in early-stage talks with potential customers for its compact nuclear reactors, which are designed to power data centers on Earth and one day to be sent into space, the <a target="_blank" class="" href="https://www.ft.com/content/50ccf53b-132e-46d3-86eb-83abd33264b0">Financial Times reported</a>. The so-called microreactors have a much smaller power output than traditional small modular reactors but are more transportable due to their smaller size. Jake Thompson, the company's director of novel nuclear and special projects, told the FT the reactor could provide energy solutions for data centers, mining, and remote communities. A spokesperson for Rolls-Royce confirmed to Business Insider that it is in early-stage talks with potential customers. Big Tech companies — including Google, Amazon, and Microsoft — have expressed interest in <a target="_blank" class="" href="https://www.businessinsider.com/google-nuclear-power-ai-data-centers-2024-10">nuclear power to meet</a> AI's high energy demands. Rolls-Royce believes the growing international interest in nuclear power will increase the demand for microreactors for both Earthbound and space applications, the FT reported. Thompson told the FT that Rolls-Royce's focus has been on building a reactor that is "really small, small enough so you could load it onto a rocket and send it into space."The company has been working on the technology for over three years, first collaborating with the UK Space Agency in 2021 to study how nuclear power could support space exploration.In July 2024, Rolls-Royce was awarded funding from the agency's National Space Innovation Programme, or NSIP, for space nuclear power. The company<a target="_blank" class="" href="https://www.rolls-royce.com/media/press-releases/2024/22-07-2024-rolls-royce-awarded-national-space-innovation-programme-funding-for-space-nuclear-power.aspx"> said in a statement at the time </a><a target="_blank" href="https://www.rolls-royce.com/media/press-releases/2024/22-07-2024-rolls-royce-awarded-national-space-innovation-programme-funding-for-space-nuclear-power.aspx">that the £4.8m</a> award from NSIP would help to advance the development and demonstration of key technologies in the space nuclear microreactor market.The company said the NSIP's project had a total cost of £9.1 million ($11.5 million) and aimed to progress the microreactor's "overall technology readiness level."

Rolls-Royce is in talks to use its compact nuclear reactors to power data centers and space missions

<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>, under the leadership of <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>, showcased its vision for the future during the company’s Annual General Meeting (AGM) that was held today (August 29). During the AGM, <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> laid out ambitious plans that span across its diverse businesses. The conglomerate, which has interests ranging from oil to telecom to retail, is positioning itself as a key player in India’s growth story, with a particular focus on <keyword id="20239522" type="General" weightage="20" keywordseo="technological-innovation" source="keywords">technological innovation</keyword>, energy security, and retail expansion. <h2>Not chasing short-term profits</h2><keyword id="19898589" type="General" weightage="20" keywordseo="ambani" source="keywords">Ambani</keyword>, during his speech, said that Reliance is not merely chasing short-term profits but is dedicated to creating long-term wealth for the nation. He reiterated the company’s commitment to providing high-quality products and services that enhance the lives of Indian consumers. The chairman announced that the company’s board will consider issuing bonus shares on September 5, further rewarding shareholders as Reliance continues to grow. <h2>Transforming into a deep-tech company</h2>A major theme of the AGM this year was Reliance’s transformation into a deep tech company, with advanced manufacturing capabilities at its core. Ambani described this shift as essential to securing a place in the global top-30 companies in the near future. He highlighted the company’s strategic adoption of artificial intelligence (AI), calling it one of the most transformative events in human history. AI, he noted, opens up new avenues to address complex problems, making Reliance a net producer of technology. Reliance has been making significant strides in R&amp;D, with over ₹3,643 crore invested in FY24 alone, taking the total research expenditure to over ₹11,000 crore in the last four years. This investment is driving innovations in various areas, including bio-energy, solar power, green energy, and high-value chemicals. The company has also been active in digital research, filing patents in 6G, 5G, AI, and IoT, among others. Ambani assured that this tech-driven transformation would propel Reliance into a new phase of hyper-growth, multiplying its value in the coming years. <h2><keyword id="20337020" type="General" weightage="20" keywordseo="retail-business" source="keywords">Retail business</keyword> to double</h2>In addition to technological advancements, Reliance Retail, the company’s retail arm, is set to double its business in the next three to four years. Isha Ambani, Director of Reliance Retail, shared that the retail segment recorded a gross revenue of ₹3.06 lakh crore for the financial year ending March 31, 2024, marking a 17.8% growth over the previous year. The retail business has rapidly expanded, with Reliance opening 1,840 new stores in the past year, bringing the total to 18,836 stores across 79 million square feet of retail space. This growth has positioned Reliance Retail among the top-5 global retailers in terms of store count and among the top-10 in market capitalization globally. Isha Ambani emphasised that much of this growth is driven by a focus on smaller towns, where two-thirds of the new stores have been opened. Reliance Retail is also focused on creating high-quality, affordable products through its Consumer Brands business, which has seen the re-launch of popular brands like Campa, Lotus Chocolates, and Sosyo. Mukesh Ambani concluded by underscoring Reliance’s mission to provide energy security to India while also contributing to a cleaner and greener world. As the global landscape becomes increasingly uncertain, he expressed confidence in India’s role as a key growth engine in the global economy. The International Monetary Fund (IMF) projects that India will become the world’s third-largest economy by 2027, surpassing Japan and Germany. Ambani affirmed that Reliance will continue to be a driving force in India’s march toward becoming a developed nation.

Reliance AGM 2024: Company aims to double retail business, Mukesh Ambani says not pursuing short-term profit

<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> is set to host its flagship <keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">AI</keyword> conference, the <keyword id="22703102" type="General" weightage="100" keywordseo="Nvidia-AI-Summit" source="keywords">Nvidia AI Summit</keyword>, from October 23-25, 2024, in <keyword id="19895282" type="General" weightage="20" keywordseo="Mumbai" source="keywords">Mumbai</keyword>. This event is one of three global summits this year, alongside those in Washington, D.C., and Japan, and aims to be a convergence of minds, gathering top executives, AI experts, developers, innovators, and key technology decision-makers to explore advancements in AI. The summit is highly recommended for developers and business decision-makers at GSIs and GCCs seeking insights into AI solutions tailored for both the Indian and global markets. It aims to address critical local challenges and open new opportunities for <keyword id="19936494" type="General" weightage="20" keywordseo="innovation" source="keywords">innovation</keyword>. Event highlights include a fireside chat with Nvidia's founder and CEO, <keyword id="19979316" type="General" weightage="20" keywordseo="Jensen-Huang" source="keywords">Jensen Huang</keyword>, who will discuss the future of AI, interactions with world-class speakers, and hands-on demonstrations of the latest AI technologies. Attendees can also expect valuable networking opportunities, interactive workshops, and expert panels on future AI trends. "With accelerated computing infrastructure, research, and AI skilling at scale, India has the potential to become the Intelligence Capital of the world and the upcoming Nvidia's <keyword id="20157373" type="General" weightage="20" keywordseo="AI-Summit" source="keywords">AI Summit</keyword> is the first of its kind with significant focus on India," said Vishal Dhupar, Managing Director, Asia-South Nvidia. "It promises to be topical, relevant for India, and a must-attend for developers, startups and enterprises", he added. As per a note, the summit will showcase the transformational impact of AI across various domains, from manufacturing and robotics to healthcare and life sciences, providing attendees with valuable hands-on experience. India's dedicated AI mission is under consideration. Speaking at the inaugural event of the Global India AI Summit 2024 in the national capital, Union IT Minister <keyword id="19904138" type="General" weightage="20" keywordseo="ashwini-vaishnaw" source="keywords">Ashwini Vaishnaw</keyword> said that the government will roll out the India AI Mission in the next two or three months, during which the government will help domestic companies procure computing power units to run artificial intelligence (AI) systems. The company has seen huge demand for its chips, driving its market value to USD 3.16 trillion, making it the third most valuable company after Microsoft and Apple. Many Indian companies, such as Reliance Group, Tata Group, and Yotta Infrastructure, have struck deals with Nvidia for its GPUs.

Nvidia to host AI Summit in Mumbai from October 23-25, 2024

<ul class="summary-list"><li>Europe is done playing second-fiddle to the US and China on innovation.</li><li>EU leader Mario Draghi has just published a report outlining how far behind Europe is on tech.</li></ul>It's no secret that Europe, home to four of the world's 10 largest economies, is worse than China and the US at growing large-scale tech businesses. Now, European Union leader <a target="_blank" class="" href="https://www.businessinsider.com/leadership-lessons-mario-draghi-italy-whatever-it-takes-2021-2">Mario Draghi</a> is saying something has to be urgently done about it.In a <a target="_blank" class="" href="https://commission.europa.eu/document/97e481fd-2dc3-412d-be4c-f152a8232961_en">sweeping new report</a> published on Monday, Draghi — an EU grandee who formerly served as Italy's prime minister and president of the European Central Bank — issued a rallying cry to Europe as it hurtles into an "existential challenge" over its future.In the highly anticipated report, <a target="_blank" class="" href="https://www.businessinsider.com/deep-recession-inevitable-ex-ecb-boss-draghi-warns-depression-2020-3">Draghi</a>, who saw Europe through its sovereign debt crisis in the aftermath of 2008's financial crash, put a sharp focus on Europe's "slowing growth since the start of this century" and the gap it has created with the US and China.His report touches on several areas needing greater investment and attention. One area, though, emerged as a higher priority than the rest: innovation."First — and most importantly — Europe must profoundly refocus its collective efforts on closing the innovation gap with the US and China, especially in advanced technologies," Draghi said.<h2 id="3dbb7ace-bb92-42ac-ae2f-16f8987163b9">How Europe fell behind</h2><div type="image" title="US and Chinese flags" height="683" width="1024" msid="113224495" hostid="261" sizebytes="19718"></div>There's good reason Draghi has emphasized innovation in Europe's bid to become more competitive.While the US and China have created several tech giants worth hundreds of billions of dollars — in the US, six tech companies now <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://markets.businessinsider.com/news/stocks/apple-largest-company-4-trillion-race-nvidia-microsoft-ai-boom-2024-6">exceed $1 trillion in market capitalization</a> — Europe has failed to profit from the internet revolution at the same scale.The EU leader gave a few key reasons for this. For one, Europe is "stuck in a static industrial structure," which has meant few new companies have risen up with the move-fast-and-break-things energy of Silicon Valley firms disrupting incumbents.Europe's largest company, Novo Nordisk, is a 100-year-old Danish pharmaceutical business worth $585 billion. One of its biggest tech companies, Dutch semiconductor firm ASML, was founded 40 years ago.The lack of disruptor energy — or, as the report puts it, "Europe's failure to capitalize on the first digital revolution" in the mid-1990s — has also been a key factor for why "EU productivity diverged from the US" in that period.There's also been the simple fact that Europe failed to pounce on opportunities to build frontier technologies such as cloud and quantum computing as they were in their nascent phases.The report notes that just three <a target="_blank" class="" href="https://www.businessinsider.com/ai-is-paying-off-for-some-major-cloud-providers-2024-5">US cloud "hyperscalers"</a> account for over 65% of the European cloud market, while Europe's largest operator accounts for just 2%. It also states that the US and China dominate a list of the top 10 companies attracting quantum computing investment.For these reasons, the report found, Europe seems to have resigned itself to the fact that it has ceded significant ground to the US and China in some key areas of innovation. For instance, the report sees Europe irreparably falling behind in cloud computing because of "continuous massive investments, economies of scale and multiple services offered by a single provider."<h2 id="8af44463-0cad-4652-bdc6-41d7f9cdef69">Europe's strategy to close the innovation gap</h2><div type="image" title="Draghi" height="2095" width="2962" msid="113224499" hostid="261" sizebytes="161788"></div>Despite its weaker position relative to the US and China, Draghi thinks the EU can devise a plan to close the innovation gap.First, it must <a target="_blank" class="" href="https://www.businessinsider.com/ai-return-investment-disappointing-goldman-sachs-report-2024-6">bet big on AI</a>. "AI — and particularly generative AI — is an evolving technology in which EU companies still have an opportunity to carve out a leading position in selected segments," the report said.The strategy to take a global lead in AI will rely on a few different elements.The report highlights several important initiatives, one of which is lowering "the cost of AI deployment," which has been high due to the expense of <a target="_blank" href="https://www.businessinsider.com/chatgpt-openai-ai-dictionary-help-understand-nvidia-2023-12">vital hardware such as GPUs</a>. The report notes that this can be achieved if the EU boosts access to the computing power needed to power generative AI tools.The bloc has already taken some initiative to get ahead with the European High-Performance Computing Joint Undertaking — or EuroHPC JU — first established in 2018 to bring serious computing power to the continent. The report said that to date, the EuroHPC JU has been used primarily for scientific research, but it was increasingly being opened up to AI startups, small and medium-sized businesses, and the "broader AI community."Draghi's report also notes AI has become "a source of anxiety" for workers who are worried about the technology's potential to displace their roles, which means training will become increasingly important.Beyond AI, Draghi points to other measures to close the innovation gap, such as reforms to policies that he thinks hinder innovation, as well as addressing big funding issues. In Europe, there is a "huge gap in later-stage financing" compared to the US, the report said, making it more difficult for companies to scale up.Big US venture capital funds and crossover firms, such as <a target="_blank" class="" href="https://www.businessinsider.com/tiger-global-scott-shleifer-private-market-2023-11">Tiger Global,</a> increased their investment activity across the tech sector in Europe throughout the pandemic. However, the rise in interest rates since then has made betting on young companies a riskier endeavor in the eyes of investors. That has to change.The report has already garnered support from Elon Musk. Writing on X, the platform he owns, Musk said, <a target="_blank" class="" href="https://x.com/elonmusk/status/1833151262746964447?s=46&amp;t=1yjpGXMHUjqcuPJ7NA-DCQ">"Mario Draghi's critique is accurate."</a>The Tesla chief added: "A thorough review of EU regulations to eliminate unnecessary rules and streamline activity in Europe would revitalize growth and strengthen competitiveness. Things should be default legal, rather than default illegal."How successful the EU will be in pulling off these changes in its mission to close the innovation gap is highly uncertain. But it's clear the bloc is ready to do whatever it takes to get on par with the superpowers it sits between.

Europe has admitted it's fallen behind US innovation. Now it's plotting a comeback.

<div type="image" title="For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire" height="900" width="1200" msid="114064202" hostid="261" caption="&amp;lt;p&amp;gt;For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire&amp;lt;/p&amp;gt;"></div> Once upon a time, there thrived a wild, wild land. Here, it was all about super high monetary stakes, lightning-fast trade deals, and bucketloads of money shifting hands every single second. This wilderness lured millions of individuals with the promise of super duper high returns. But, at what cost? Welcome to the unforgiving, ultra-risky wild west of <keyword id="19991165" type="General" weightage="20" keywordseo="Indian-equity-markets" source="keywords">Indian equity markets</keyword> called the <keyword id="145718" type="General" weightage="100" keywordseo="Futures-and-Options" source="Orion">futures and options</keyword>. Here, everyone seems to just fly right through the bright red-flagged warnings of financial risks to earn even a fraction of these promised returns. Most burn themselves in the process, but carry on nevertheless, as if nothing ever happened. <h2>Chasing the cloudy profits</h2>The data conclusively proves that every 9 out of 10 individuals only lost their hard-earned money in this land. But hey, what do the numbers know? Some hide their losses out of shame, some out of fear. The proponents, meanwhile, proudly boast unusually high returns on their investments, some open social media channels while others encourage their friends and family to take the plunge. Naturally, news of this unstoppable and humongous en-masse migration to the F&amp;O (futures and options) town has reached sheriff <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="261" meta.entityid="SEBI">SEBI</keyword>, galvanising them into action. After all, it was time to put a leash on this madness and save the common man. The inhabitants of this town doubled in the last 2 years, from 51 lakh in FY22 to 96 lakh in FY24—99.8% of whom were small and mid-income traders. But profits? Well, that's a different, rather completely absent story. <h2>Que Sera Sera, much?</h2>A recent report by SEBI (Securities and Exchange Board of India) that studied profits and losses made by traders in the equity derivatives segment between FY22-24 exposed the mad mania of futures and options trading in India, especially since the pandemic. Per the report, 91.1% of individual traders, or about 73 lakh traders had only lost money trading in futures and options in FY24. Between FY 22-24, over 1 crore traders, or about 92.8% of individual traders, had lost Rs 2 lakh each. But once bitten, twice shy? Well, not in this case. More than 75% of individuals, who had only made losses trading in F&amp;O in FY22 and FY23, continued to trade vigorously in FY24 as well, without any changes in the bottom line, which remained deep in red and negative. So, then all these traders must be uber-rich, with tons of cash and not much care to spare? Nope. 76% of traders in the F&amp;O space in FY24 had an annual income of less than Rs 5 lakh. 2 years ago, their share stood at 71%. And their choice of poison? Options! In FY24, 60% of traders made losses trading in futures, but a whopping 91.5% burnt their funds trading in options. Mind you, futures are riskier than options. With futures, which require significant capital investment, the buyer and seller both are contractually bound to adhere to the pre-determined strike price of the futures or options contract, irrespective of whether the prevailing prices are higher or lower (and thus, resulting in losses for either the buyer or seller). With options, since this adherence ain't necessary, individuals end up taking debt to take highly leveraged positions while trading here. <h2>Scale of the explosion</h2>Anyone who trades even infrequently will tell you that a demat account is the mitochondria or powerhouse of the trading cell. As of August 2024, India had over 17.1 crore <keyword id="20957284" type="General" weightage="20" keywordseo="demat-accounts" source="keywords">demat accounts</keyword>, which are a prerequisite for trading in the markets. India is the 9th biggest country in the world, in terms of total demat accounts. Did you know that our demat accounts are at par with the entire population of Bangladesh? Talk about scale! Just 4 years ago, in March 2020, this number was a mere 4 crore. Naturally, the total F&amp;O turnover on both <keyword id="20004725" type="General" weightage="20" keywordseo="NSE" source="keywords" meta.keywordsubtype="org" meta.entityname="NSE" meta.hostid="261" meta.entityid="NSE">NSE</keyword> and BSE has hit the roof, and also broken it. As of October 4, 2024, the total futures and options turnover on NSE stood at a massive Rs 4,78,27,27,750.30 crore. Good luck counting the thousands! <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Turnover (Both Futures and Options) (In Rs Crore) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020-21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64,36,03,951.51 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021-22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,69,52,33,134.47 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022-23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,82,23,26,468.06 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2023-24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,99,27,67,152.43 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source : NSE Another metric that underlines the meteoric growth of trading in India is the collection of STT or <keyword id="20930760" type="General" weightage="20" keywordseo="Securities-Transaction-Tax" source="keywords">Securities Transaction Tax</keyword>. As of September 2024, India's STT mop-up had gone past Rs 26,000 crore. Traders have to pay STT whenever they buy or sell any security in the market. So, more trading brings in more STT, and hence, more revenue for the government, so they're not really complaining. After all, this is certainly what they'd call enviable growth. As of August 2023, our STT collection stood at about Rs 21,599 crores. And in FY20-21, India's STT collection had been Rs 16,000 crore. If only our salaries also managed to grow at this rate! <h2>So, what's happening?</h2>Two things. One, it's the big bulls who are raking in all the moolah. And it's the younger lot (those aged under 30) who are propping them up for this. In FY24, 43% of individual traders in the market were less than 30 years of age. In just one year, this number has swelled by 12 percentage points from just 31% of individual traders. But who says ageing is bad? Wrinkles and silver hair seemingly have a propensity of incurring lesser losses in the market. In FY24, only 79% of traders aged above 60 years made losses, as compared to 93% of those aged below 30. Small and mid-income traders, which make up 98% of the total trader base, witnessed average losses per person of Rs 65,000 and Rs 1.5 lakh in FY24 in futures and options, respectively. The winner here? Clearly, the big bulls, who declared an annual income of over Rs 1 crore, ended up with average profits of Rs 96,000 per person this year. <h2>What’s the sheriff up to?</h2>The government has finally swung into action, hiking the STT rate for F&amp;O during this year’s budget. Effective October 1, 2024, the STT on futures stands at 0.02%, up from 0.0125%. For options, it was upped to 0.1% versus 0.0625% previously. Small margins, but huge impact oncoming. Says Puneet Sharma- CEO and Fund Manager at Whitespace Alpha, “SEBI aims to enhance market stability while safeguarding investor interests, reflecting the regulator's intent to balance risk management with market participation”. But this might come with its own share of challenges, too. “Stricter norms around leverage, transparency, and capital adequacy could limit the ability of investors to determine their own risk appetite, thereby stifling innovation in trading strategies. Over-regulation in an environment that thrives on strategic flexibility and creativity could dampen the market’s dynamism, affecting India's competitiveness in the global derivatives landscape”, he observes. SEBI recently came out with a set of guidelines that aim to thwart <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>' participation in futures and options and hinder them from taking undue risks. Here's a quick recap of what's to come for the residents of the F&amp;O town Margin Requirements: To battle the high volatility and chaos which is generally seen on expiry days(i.e the last mandated date, post which an option becomes invalid), SEBI will put in place an extreme loss margin (ELM) of 2% for all open short options on the day of expiry. Translation? Traders will need to pony up more cash upfront, leaving them with fewer funds to take on risky bets. It ain't a choice: No more of one expiry every single day! Going ahead, an exchange like BSE or NSE will just be able to offer weekly expiries, that too, only on one benchmark index, as opposed to an entire buffet it currently offers. At present, NSE offers weekly options contracts for its financial index, bank and midcap indices. But say goodbye to this, and hello to derivatives on only 1 index per exchange. Raising the bar: Effective November 30, 2024, the minimum contract value for index derivatives will be upped to Rs 15 lakh, from the present Rs 5-10 lakh. The hope is that by making it ultra-expensive to enter these trades, investors will be dissuaded from taking on risky trades. Pay upfront: Starting February 2025, those trading in options will have to pay the entire options premium upfront, even before their trades are executed. This is because options generally carry very high leverage, and paying a significant sum upfront can force traders to think twice. Invigilation Pro Max: Starting April 1 2025, to make sure that the number of positions for equity index derivatives does not slyly slip over the mandated limit, especially on expiry days when trade volumes are huge, the exchanges will have to take a minimum of 4 position snapshots randomly. The question is, will these injections of sobriety be enough to calm down the steroid-fed bull of the futures and options market in India? Well, only time and market turnover will tell! For more insights into the financial markets and business news, stay tuned to our site and social media handles. And don’t forget to subscribe to Business Insider India’s newsletters for your weekly dose of Simply Put! Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

SIMPLY PUT: SEBI is on a mission to take on the wild, wild west of futures and options in India. Here’s why, what, and how

India is organizing the 'Global <keyword id="22243491" type="General" weightage="20" keywordseo="IndiaAI-Summit-2024" source="keywords">IndiaAI Summit 2024</keyword>' under the aegis of the Ministry of Electronics and Information Technology, scheduled for July 3-4 in New Delhi. According to a press release by the Ministry of Electronics and IT, the summit aims to foster collaboration and facilitate knowledge exchange among international <keyword id="22243492" type="General" weightage="20" keywordseo="AI-experts" source="keywords">AI experts</keyword>, reinforcing India's dedication to ethical and inclusive AI growth. The Global IndiaAI Summit 2024 will serve as a vital platform for stakeholders from diverse sectors, including science, industry, civil society, governments, international organizations, and academia. These experts will convene to discuss key AI issues, share insights, and address the challenges faced by the <keyword id="20055332" type="General" weightage="20" keywordseo="AI-ecosystem" source="keywords">AI ecosystem</keyword>. By hosting this summit, India is reaffirming its role as a proactive player in the global AI community, focusing on advancing technologies that are safe, secure, and beneficial to society. As the lead chair of the Global Partnership on Artificial Intelligence (GPAI), India is set to host member countries and experts to advance GPAI's commitment to trustworthy AI practices. The summit aims to showcase India's capability to lead in the AI domain and emphasizes the country's goal of ensuring that AI benefits are accessible to all, thereby contributing to the nation's socio-economic development. Central to the summit is the <keyword id="20869035" type="General" weightage="20" keywordseo="IndiaAI-Mission" source="keywords">IndiaAI Mission</keyword>, an initiative designed to build a comprehensive ecosystem that promotes AI innovation across the country. This mission focuses on democratizing access to computing resources, enhancing data quality, developing indigenous AI capabilities, attracting top AI talent, fostering industry collaboration, providing risk capital to startups, ensuring the societal impact of AI projects, and promoting <keyword id="20750054" type="General" weightage="20" keywordseo="ethical-AI-practices" source="keywords">ethical AI practices</keyword>, read the press release. The IndiaAI Mission is built upon seven key pillars, each targeting a crucial aspect of AI development and deployment. The first pillar, IndiaAI Compute Capacity, aims to establish a scalable AI computing ecosystem with over 10,000 GPUs through public-private partnerships. This will include the creation of an AI marketplace offering AI as a service and pre-trained models, providing essential resources for AI innovators and researchers. The second pillar, IndiaAI Innovation Centre, focuses on developing and deploying large multimodal models (LMMs) and domain-specific foundational models tailored to the unique needs of India's diverse industries and sectors. The third pillar, IndiaAI Datasets Platform, seeks to streamline access to high-quality non-personal datasets through a unified platform. This initiative will support Indian startups and researchers by providing seamless data access, thereby aiding in the development of robust AI models. The fourth pillar, IndiaAI Application Development Initiative, aims to promote AI applications across critical sectors by addressing problem statements from various government bodies and institutions, focusing on creating impactful AI solutions for large-scale socio-economic transformation, read the press release. The fifth pillar, IndiaAI FutureSkills, is dedicated to reducing barriers to AI education by increasing the availability of AI courses at different academic levels and establishing Data and AI Labs in Tier 2 and Tier 3 cities. This effort is crucial for building a steady pipeline of skilled AI professionals, ensuring that talent development keeps pace with technological advancements. The sixth pillar, IndiaAI Startup Financing, supports deep-tech AI startups by providing streamlined access to funding and risk capital, nurturing a vibrant ecosystem of AI startups that drive technological advancements and economic growth. The seventh pillar, Safe &amp; Trusted AI, emphasizes responsible AI development through the implementation of projects focused on ethical AI practices. This includes developing indigenous tools and frameworks and establishing guidelines for the transparency and trustworthiness of AI technologies. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank">Vraj Iron and Steel IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a>

India to host Global India AI Summit 2024 in New Delhi on July 3-4

New Delhi, Streaming service <keyword id="2189512" type="General" weightage="100" keywordseo="prime-video" source="Orion">Prime Video</keyword> on Wednesday announced "<keyword id="17979898" type="General" weightage="20" keywordseo="mission-start-ab" source="Orion">Mission Start Ab</keyword>", a business reality series in partnership with the Office of the Principal Scientific Adviser (PSA). The seven-episode series will show promising entrepreneurs, focussed on scaling made-for-India innovations with the potential to impact socio-economic change, undertake a series of challenges in pursuit of scaling their business and securing funding for their ventures, a press release stated. "With India as one of the world's largest and most vibrant start-up ecosystems, this wholly Made-In-India series also brings together three renowned investors who will search for India's next Unicorn, by putting these 10 early-stage founders through a series of intense exercises and simulations that will test their entrepreneurial, management, communication and crises management skills," the streamer said. "Mission Start Ab", which is currently in production, is slated to premiere soon on Prime Video. "Lauding the remarkable spirit of India's grassroot innovators, I am delighted to announce Prime Video's reality series Mission Start Ab. This captivating series will serve as a powerful platform, showcasing the inspiring stories of those driving social change through innovation," said Ajay Kumar Sood, Principal Scientific Adviser to Government of India. "I am optimistic that it will offer immense learning opportunities to grassroot innovators in India, providing valuable insights into sustainable start-up practices and attracting the right investors. Furthermore, the series promises to entertain viewers while promoting the growth of our nation's grassroots innovation ecosystem," he added. Sushant Sreeram, Country Director, Prime Video, India, said the streamer has always been an enabler of India's economy - directly and indirectly. "This collaboration between the Office of the PSA, Government of India and Prime Video is another milestone on the journey that started earlier this year with Amazon India signing the Letter of Engagement (LoE) with the Ministry of Information and Broadcasting (MIB) with an objective of contributing to the growth of India's creative economy," Sareen said. Actor <keyword id="6354526" type="General" weightage="50" keywordseo="alia-bhatt" source="Orion">Alia Bhatt</keyword> was also present at the event and said "Mission Start Ab" has the potential to have a "far-reaching impact on the country's growing start-up ecosystem". "While there are many great ideas and ambitious young founders around us, it takes a special kind of determination to turn that idea into reality, build the right team, find the right mentors, raise funding, and create something out of nothing," she said.

Prime Video announces reality series 'Mission Start Ab'

As <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> prepares to organise its first-ever global artificial intelligence (<keyword id="6355999" type="General" weightage="20" keywordseo="ai" source="Orion">AI</keyword>) summit in December, Walter Sun, Global Head of AI at cloud software major <keyword id="6358384" type="General" weightage="20" keywordseo="sap" source="Orion">SAP</keyword>, has said that the government and other stakeholders can learn a lot from companies like SAP in terms of helping provide the information they need to make robust decisions on AI. In a conversation with IANS, Sun who is an industry veteran with more than 18 years, said that the more informed the governments are on AI, the more enlightened decisions can be made to accelerate innovation without harming end-users. "The more we connect with the government on building responsible AI together, the more it will also become easier for us to innovate while talking about proper regulations for the whole industry," he noted. "We spend a lot of time talking to customers and working on the latest technologies. So governments can learn a lot from us in terms of helping provide the information they need to make better decisions," the SAP executive told on the sidelines of the company's flagship 'TechEd' conference in Bengaluru this week. After the successful AI Safety Summit in the UK, the Global Partnership on Artificial Intelligence (GPAI) in New Delhi next month will further deliberate upon the risks associated with artificial intelligence (AI) -- in the presence of world leaders -- before a global framework is reached in Korea next year, according to <keyword id="205969" type="General" weightage="50" keywordseo="rajeev-chandrasekhar" source="Orion">Rajeev Chandrasekhar</keyword>, Minister of State for Electronics and IT. As the council chair of GPAI, India is set to host the annual summit at Pragati Maidan in Delhi from December 12-14. Sun's technological journey extends back to 2005, when he held pivotal roles in research and product development at Microsoft. Notably, he was instrumental in the creation of Bing Predicts, a pioneering platform utilising anonymised and aggregated data for predictive analytics. This innovation enabled the integration of AI features across <keyword id="696988" type="General" weightage="50" keywordseo="bing-search" source="Orion">Bing Search</keyword>, Windows, Dynamics 365, and the Power Platform. Sun has a strong belief in the ability of generative AI to revolutionise various industries. "Responsible AI is on top of the mind for SAP. I think it's extremely important that whenever we build AI, especially generative AI which has a much larger footprint of algorithmically produced content, we keep a close eye on what we're delivering to our customers," Sun emphasised. "We know that governments care so we want to partner with them. We also want to lead the way ourselves because we know AI technology. We can partner with governments to explain what we're doing and hope that they can follow our leads," he added. According to him, generative AI can help businesses save money, make them more efficient and productive and also make the lives of employees better, as the realms of enterprise software and AI continue to converge. As generative AI begins to disrupt businesses of all sizes globally and in India, Cloud solutions major SAP this week launched new AI capabilities and advancements for developers to build generative AI-based apps and solutions. With Sun at the helm of SAP's AI initiatives, the company is poised to usher in a new era of innovation, offering clients groundbreaking solutions to tackle their most pressing problems. (<keyword id="1588655" type="General" weightage="50" keywordseo="nishant-arora" source="Orion">Nishant Arora</keyword> can be reached at nishant.a@ians.in) --IANS na/ksk

Our learnings can help India's mission to create responsible AI: SAP's global AI head

<ul class="summary-list"><li>Passengers on board the Titan submersible were called "mission specialists."</li><li>The word "passenger" was never used to avoid severe legal repercussions if anyone died.</li></ul>Paying customers on board the <a href="https://www.businessinsider.com/category/titan">Titan submersible</a> were not referred to as 'passengers' as part of a bid to avoid severe legal repercussions if anyone died, a former consultant to <a href="https://www.businessinsider.com/what-is-oceangate-expeditions-company-2023-6">OceanGate</a> claimed in <a href="https://www.newyorker.com/news/a-reporter-at-large/the-titan-submersible-was-an-accident-waiting-to-happen">an interview with The New Yorker.</a>Rob McCallum told the magazine that those on board were instead described as "mission specialists," with the New Yorker reporting that no one bought tickets but instead contributed a set amount of money to "fund their own missions."Tourists <a href="https://www.insider.com/missing-titanic-tourist-sub-everything-we-know-so-far-2023-6">reportedly paid $250,000 for a place on the vessel</a>, which took them down to the wreck of the Titanic.But "there were no passengers — the word 'passenger' was never used," McCallum said.The former OceanGate consultant said in The New Yorker interview that it is illegal to transport passengers in an "unclassed, experimental submersible" under US regulations, but that companies face a lesser degree of legal jeopardy for killing crew."You do get in a little bit of trouble, in the eyes of the law," he told the magazine. "But, if you kill a passenger, you're in big trouble."The Titan vessel <a href="https://www.businessinsider.com/missing-titanic-submersible-stories-links2023-6">imploded after setting off to visit the wreckage of the Titanic on June 18,</a> killing all five people on board, including OceanGate CEO Stockton Rush. McCallum, who founded tour operator <a href="https://www.eyos-expeditions.com/" target="_blank" rel="noopener nofollow">Eyos Expeditions</a>, previously warned Rush in emails in 2018 that passengers were potentially being put in danger because the submersible hadn't been classed or certified by an independent agency.According to the emails, <a href="https://www.bbc.co.uk/news/world-us-canada-65998914">which were seen by the BBC</a>, Rush dismissed these concerns as a "serious personal insult" and an attempt to stifle innovation in the ocean expedition industry.In <a href="https://www.insider.com/oceangate-approach-engineering-inappropriate-ad-hoc-says-former-consultant-2023-7">an interview with Insider published on July 2,</a> McCallum railed against OceanGate's approach to ocean engineering, calling it "ad hoc" and "ultimately inappropriate."He also said that it is "incredibly sad" that a sector with an otherwise "impeccable" safety record was being tainted by a "home-built" sub, according to Insider's Jyoti Mann's report.OceanGate did not immediately respond to Insider's request for comment.

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