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President Droupadi Murmu, on Friday visited an exhibition to showcase space technologies and achievements, at Bharat Mandapam, on the maiden <keyword id="22301946" type="General" weightage="100" keywordseo="National-Space-Day" source="keywords">National Space Day</keyword>. Union Minister Dr Jitendra Singh and <keyword id="19915124" type="General" weightage="20" keywordseo="ISRO" source="keywords" meta.keywordsubtype="org" meta.entityname="ISRO" meta.hostid="153" meta.entityid="ISRO">ISRO</keyword> Chairman S Somanath were also present. <keyword id="19939985" type="General" weightage="20" keywordseo="President-Murmu" source="keywords">President Murmu</keyword> extended her greetings on the occasion of the first National Space Day and welcomed the decision to celebrate Space Day on the day <keyword id="19990220" type="General" weightage="20" keywordseo="Chandrayaan" source="keywords">Chandrayaan</keyword> landed on the <keyword id="19899207" type="General" weightage="20" keywordseo="moon" source="keywords">Moon</keyword>. "It was a glorious moment for all the Indians when ISRO's Chandrayaan landed on the moon. I saw the live telecast of that moment, I was so proud that day like other Indians. To celebrate National Space Day on this occasion is a commendable step. I congratulate all of you on the first National Space Day. ISRO has achieved many feats since its inception". She also expressed her happiness with the student's participation in the event "Happy to see students' participation in this event." Highlighting the significance of <keyword id="19929542" type="General" weightage="20" keywordseo="space-exploration" source="keywords">space exploration</keyword>, she added "Space exploration has extended human's ability and help complete the imagination of humankind. Space exploration is exciting and challenging at the same time. Health, transportation, environment, energy, security and information technology are benefitted due to the growth in the <keyword id="20242397" type="General" weightage="20" keywordseo="space-sector" source="keywords">space sector</keyword>". The president termed the growth of the ISRO as extraordinary, "The growth of <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s space sector is extraordinary, be it Mangalyan mission that was accomplished through minimum resources or launching more than 100 satellites at a time. we have achieved many such feats". She also praised the introduction of private players in the space sector in the country, "Introducing of the private sector in Indian has led to the formation of many <keyword id="22829456" type="General" weightage="20" keywordseo="space-start-ups" source="keywords">space start-ups</keyword> in India. This has allowed the youths of India to explore the space sector". Expressing her happiness about ISRO's plan to make <keyword id="20793131" type="General" weightage="20" keywordseo="space-mission" source="keywords">space mission</keyword> debris-free she said "I am happy that India is moving towards making India's space mission debris-free by 2030". India celebrated its first-ever National Space Day on Friday on the theme "Touching Lives While Touching the Moon: India's Space Saga". On 23 August 2023, India achieved a historic milestone when the Chandrayaan-3 lander completed a soft landing on the moon. This remarkable accomplishment made India the 4th country to accomplish this feat and the 1st to land on the lunar South Pole. In recognition of this achievement, Prime Minister Narendra Modi has declared August 23 as National Space Day.

"A glorious moment for all Indians when Chandrayaan landed on moon" says President Murmu on National Space Day

Google's new report on <keyword id="19904566" type="General" weightage="20" keywordseo="artificial-intelligence" source="keywords">artificial intelligence</keyword> (AI) emphasizes responsible AI development and suggests recommendations for policymakers, companies, and civil society. The report titled "An AI Opportunity Agenda for India" outlines how artificial intelligence can drive <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword>, social progress and global leadership for the nation. The report says India with its rapidly growing economy, outstanding tech talent, young demography and vibrant start-up ecosystem, is poised to reap the immense benefits of artificial intelligence. A comprehensive and responsible approach to AI can unlock significant economic growth and societal progress in India. "The potential economic impact of AI in India is substantial - reports estimate that at least INR 33.8 lakh crore of economic value from <keyword id="20037918" type="General" weightage="100" keywordseo="AI-adoption" source="keywords">AI adoption</keyword> can be achieved in India in 2030. While these achievements signify a promising beginning, unlocking the full potential of AI hinges on the strategic decisions we make today," says a Google's press release. The report suggests that to maximize the AI opportunity for India collaborative efforts are needed across government, industry, and civil society. They need to prioritise three key areas which include investments in infrastructure and innovation, building human capital and an AI-powered workforce and promoting wide adoption and universal accessibility. AI is already addressing some of the most pressing challenges like revolutionizing farming practices and improving <keyword id="20646060" type="General" weightage="20" keywordseo="healthcare-access" source="keywords">healthcare access</keyword>. The <keyword id="20214323" type="General" weightage="20" keywordseo="agriculture-sector" source="keywords">agriculture sector</keyword> is getting the benefits of AI through minimizing climate risks, optimizing productivity and sustainability, and providing access to real-time crop pricing information and early warning of potential crop threats. Many <keyword id="23569666" type="General" weightage="20" keywordseo="AI-powered-platforms" source="keywords">AI-powered platforms</keyword> are empowering farmers to boost crop yields and encourage sustainable practices. In the healthcare sector, AI is being used for better diagnosis, bigger access, and personalized care, especially for underserved communities. Google has partnered with <keyword id="23569667" type="General" weightage="20" keywordseo="ARMMAN" source="keywords" meta.keywordsubtype="org" meta.entityname="ARMMAN" meta.hostid="261" meta.entityid="ARMMAN">ARMMAN</keyword> to use AI to identify women at risk of dropping out of their health information program, allowing for personalized interventions to improve maternal health outcomes. ARMAAN seeks to address the pervasive systemic problems underlying maternal and child mortality and morbidity in India.

AI adoption can unleash Rs 33.8 lakh crore of economic benefit to India in 2030: Google Report

India is resolved to lead the world in 6G, communications minister <keyword id="19999763" type="General" weightage="20" keywordseo="Jyotiraditya-Scindia" source="keywords">Jyotiraditya Scindia</keyword> said on Tuesday, terming the <keyword id="20434665" type="General" weightage="20" keywordseo="telecom-sector" source="keywords">telecom sector</keyword> of the country as 'aggressive' and 'ambitious'. Scindia, speaking at the inauguration of <keyword id="21058244" type="General" weightage="20" keywordseo="India-Mobile-Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="India Mobile Congress" meta.hostid="153" meta.entityid="India Mobile Congress">India Mobile Congress</keyword> and World Telecommunication Standardization (WTSA) 2024, said with the <keyword id="22506536" type="General" weightage="20" keywordseo="Bharat-6G-Alliance" source="keywords">Bharat 6G Alliance</keyword>, India hopes to contribute at least 10 per cent patents to 6G standardisation. "It is our belief and our commitment -- India followed the world in 4G, we marched with the world in 5G, but we shall lead the world in 6G," the minister asserted. With the fastest <keyword id="20366727" type="General" weightage="20" keywordseo="5G-rollout" source="keywords">5G rollout</keyword> in India wherein 98 per cent of districts and 90 per cent of all villages were covered in a span of just 21 months, Scindia said it is the Prime Minister Narendra Modi's effort of not just embracing, but bracing the country to become the first-mover in 6G technology. "It is noteworthy that the Indian Mobile Congress and the International 6G Symposium demonstrates both local and global advancements in 6G, and also design principles that will shape the future of telecom," he further said. The recent changes to the <keyword id="22077688" type="General" weightage="20" keywordseo="Telecommunications-Act-2023" source="keywords">Telecommunications Act 2023</keyword> have been designed in such a way so as to modernise India's telecom framework, drawing light upon hitherto unaddressed areas such as the high potential sector of <keyword id="21282723" type="General" weightage="20" keywordseo="satellite-communications" source="keywords">satellite communications</keyword>, addressing the challenges of the digital era, the most important being <keyword id="20080676" type="General" weightage="20" keywordseo="cyber-security" source="keywords">cyber security</keyword>, Scindia said. "The telecom sector, much like other growth-critical sectors in India, is aggressive, is ambitious, and its outlook in our journey from Amrit Kaal to Shatabdi Kaal is to lead the world," he said. India Mobile Congress (IMC) is an annual event organized by the Department of <keyword id="20204336" type="General" weightage="20" keywordseo="telecommunications" source="keywords">Telecommunications</keyword> (DoT) and the Cellular Operators Association of India (COAI). IMC 2024 will see participation from over 400 exhibitors, nearly 900 startups, and participation from 120+ countries. About 3,200 delegates from over 160 countries are part of the WTSA assembly. "We are confident that this (WTSA), along with the Indian Mobile Congress in its 8th edition... will serve as a breeding ground for innovation, but also showcase India's impending but inevitable emergence as a global hub for telecommunications across the world," Scindia said.

India set to lead global 6G revolution: Telecom Minister Jyotiraditya Scindia

For Saumya Bhatnagar, being the only woman in a room is far from a novel experience. An engineer by training and currently the co-founder and chief product officer at AI sales rep startup Jeeva, she remembers being the sole girl in her high school's 170-person <a target="_blank" class="" href="https://www.businessinsider.com/5-tips-women-career-coding-twilio-2020-8">coding class</a> — and that none of her male peers would sit next to her."I had to make space for myself, and there were plenty of micro and macro aggressions in the grand scheme of things that I had to talk my way through," she told Business Insider. "At the end of the day, <a target="_blank" class="" href="https://www.businessinsider.com/women-left-out-of-the-ai-investment-boom-risks-bias-2023-10">it's a man's world</a> in the VC, startups, and AI space."Bhatnagar isn't alone in her journey. Although the number of women-founded startups has increased, less than 3% of venture capital funding went to <a target="_blank" class="" href="https://www.businessinsider.com/venture-capital-decline-hurts-female-founders-gender-gap-startup-funding-2023-12">female-only founding teams</a> in 2022, according to PitchBook.A handful of women who are well-known as leaders in the AI space — including "Godmother of AI" <a target="_blank" class="" href="https://www.businessinsider.com/vcs-like-khosla-and-a16z-backing-robotics-that-use-ai-2024-7">Fei Fei Li</a>, Anthropic president and co-founder Daniela Amodei, and OpenAI's former chief technology officer Mira Murati. But others building startups report facing various gender-related obstacles to success, including bias in the fundraising process, limited mentorship opportunities, and difficulty building meaningful business relationships with men.In the AI sector specifically, which has surged in popularity since the release of ChatGPT two years ago, the challenges for female founders are even more pronounced. <a target="_blank" class="" href="https://www.businessinsider.com/meet-18-women-who-made-partner-vc-firms-in-2023-2023-11">AI continues to attract significant VC interest</a>, but women in the space face additional barriers compared to their male counterparts, starting at the education level.While a degree in engineering or computer science isn't a requirement for launching an AI company, it's often a prerequisite for techies building foundational models to tackle complex machine-learning problems. Women accounted for just 22% of AI and computer science PhD programs in the US in 2019, according to a Deloitte study.Women in 2020 made up an estimated 26% of data and AI positions in the workforce, per a World Economic Forum report. And <a target="_blank" href="https://www.uktech.news/diversity/ai-funding-women-founders-20240319">recent data from the UK </a>shows that only about 4% of AI startups in the country have women founders.Although Bhatnagar is among the small group of women in the space with advanced technical chops, she says she still notices the gender imbalance in the AI world — and that it, at times, has led to her feeling impostor syndrome and burnout.Developing relationships with other women working in the AI space has become a vital lifeline, she said. An active member of online and in-person groups, including <a target="_blank" href="https://www.womenandai.com/">Women and AI</a> and <a target="_blank" href="https://thewomenweadmire.com/">Women We Admire</a>, Bhatnagar said that she's made connections that support her in navigating difficult business dynamics, connecting with female investors, and finding solace in shared experiences."Women are not comfortable asking for help, and there's this idea that perfectionism needs to be showcased at all times," she said. "Finding a community of women has helped me take risks and realize that I'm actually doing okay," she said.Vivien Ho, a partner at early-stage fund Pear VC, has watched the meteoric rise of buzzy AI startups during the last two years and noticed that many are run by men, she said. But as a longtime community builder in the Bay Area tech scene, this didn't jive with what she was seeing on the ground. There were plenty of women interested in building AI companies, she said. Many just didn't know how to start.This observation was the catalyst for the Female Founder Circles, a community for women engineers interested in building AI startups. Each FFC cycle welcomes a cohort of around 50 women for two months of programming that includes fireside chats with existing female AI founders, company-building workshops with Pear investment partners, and other in-person events designed to help women build meaningful relationships with one another, such as pitch competitions, spa days, and public speaking practice.Demand for FFC has exploded, Ho said, with more than 500 women applying for the most recent cohort that kicked off last month. And the program has already been a success: more than 70% of participants end up incorporating their startups, and at least five women have matched with another female co-founder in their cohort, she said."Three of our FFC founders have already raised Series Bs, which is pretty incredible," Ho told BI. "We first meet them, and they're really shy, and then three years later, they're running a 100-person company and making eight figures. It's incredible to see how we can build a community that makes a difference."As women in AI create opportunities that could help them succeed, their work parallels women in another once-white-hot subsector of the startup world: at the height of the crypto craze, female-led blockchain startups earned about 6.4% of venture dollars in the third quarter of 2022, <a target="_blank" class="" href="https://www.bitget.com/blog/articles/bitget-report-the-gender-gap-in-blockchain-startup-funding-press-release">according to data from Bitget</a>.Funding in the space has dropped off dramatically during the last two years, and women continue to struggle when it comes to connecting with investors and closing rounds, <a target="_blank" class="" href="https://www.forbes.com/sites/digital-assets/2024/08/29/what-web3-data-reveals-about-gender-inequality-in-the-crypto-industry/">Forbes recently reported</a>.For Shreya Rajpal, Pear VC's FFC was one of the first times she felt genuine, positive support from the people around her. As a software engineer who cut her teeth in startups and on Apple's machine learning initiatives, she was accustomed to being the only woman whose work was judged with more scrutiny than that of her male coworkers."There are a lot of men who aren't very supportive, and being the only woman on a team means that they're often an undue level of attention on your work, so you stand out, for better or for worse," Rejpal told BI. "Pretty early on, it was obvious that I kind of needed to justify my space in the room a lot more compared to other folks."Fast forward to today, and Rajpal is the CEO and co-founder of Guardrails AI, which builds risk and reliability systems for generative AI programs. As she's progressed in her career, she's made an effort to build community with other women in tech. It's work that takes significant time, but it's been "life changing" in terms of succeeding as a founder and well worth the effort, she said.Guardrails earlier this year raised a $7.5 million seed funding round led by Zetta Venture Partners with participation from Pear, Bloomberg Beta, and GitHub Fund.In addition to participating in bigger groups like FFC, Rajpal has sought out mentorship opportunities with other women in engineering, machine learning, and project management."I became friends with a woman who is five to six years older than me and in the industry for that much longer, doing the things that I wanted to do," she said. "Hearing from her and what worked for her, in terms of changing jobs and talking to her about how she made those decisions, was the stuff that ended up being really impactful for me."Stephanie Guo, a partner at Sapphire Ventures based in San Francisco, is constantly iterating on community events for women interested in AI that strike the right balance between informational – think fireside chats and panel discussions – and informal ways for women to form connections that turn into mentor relationships.These events aren't just for would-be founders: Guo says that while the number of female-funded AI startups can sometimes seem "abysmally small," she's encouraged by the number of women who hold leadership positions at AI startups, funds, and bigger companies."We're creating both the space to have dialogue, but also a networking opportunity," Guo told BI. "These relationships stick, and there are business opportunities that actually form from them."

For women building AI startups, finding community has been the key to success

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s <keyword id="19938893" type="General" weightage="20" keywordseo="defence-exports" source="keywords">defence exports</keyword> have surged from Rs 15 billion in 2017 to Rs 210 billion in 2024, registering a CAGR of 46 per cent, highlighted a report on 'Defence Conference 3.0' by Antique Stock Broking. The report stated that the <keyword id="20861069" type="General" weightage="20" keywordseo="global-shift" source="keywords">global shift</keyword> towards a China+1 strategy and the impact of the <keyword id="20016971" type="General" weightage="20" keywordseo="Russia-Ukraine-war" source="keywords">Russia-Ukraine war</keyword> offer India additional opportunities to fill supply chain gaps, potentially boosting its share in the <keyword id="23046732" type="General" weightage="20" keywordseo="global-defence-industry" source="keywords">global defence industry</keyword>. The report noted that the country's long-term goal is to become a global defence manufacturing hub is driven by Defence Public Sector Undertakings (DPSUs), private enterprises, start-ups, and MSMEs. "Indian defence exports have grown multi-fold from INR 15 bn in 2017 to INR 210 bn in 2024 at a CAGR of 46%. The China + 1 strategy and the Russia-Ukraine war provides an additional opportunity for India to fill the gap created in the supply chain and hence increase its contribution to the global defence industry," the report read. The report added that to achieve this target a well-developed domestic ecosystem is crucial as lower import content in products accelerates approvals by reducing international conflicts. The report added that the Ministry of Defence has taken key initiatives to attract Indian private players and global Original Equipment Manufacturers (OEMs) include establishing aerospace parks and defence corridors, fast-tracking project approvals, and enhancing development and testing facilities. Highlighting the potential in India's Maintenance, Repair, and Overhaul (MRO) segment the report explained that it holds a significant potential for global aerospace companies due to its technical expertise and cost-competitive solutions. "India provides a huge opportunity in the <keyword id="23046733" type="General" weightage="20" keywordseo="MRO-segment" source="keywords">MRO segment</keyword> for global aerospace leaders given the expertise the country provides as well as the cost efficiency solutions compared to its global competitors" the report added. India aims to increase domestic defence turnover to Rs 3 lac crore by 2029, Rs 500 billion targeted for exports. This growth will help reduce the Government of India's import bill as India remains the world's largest importer of defence equipment. Under the Atmanirbhar Bharat initiative of the government, 75 per cent of the defence capital outlay is now reserved for domestic players, up from 49 per cent in FY21. Given the geopolitical challenges and modernisation needs of its Armed Forces, the report added that India plans to invest Rs 8.3 lac crore in domestic procurement, offering substantial business opportunities for local companies. "India intends to place orders worth INR 8.3 trn through domestic procurement and thus it presents a massive business opportunity for local players" it added. As per the Ministry of Defence, India's defence manufacturing sector has witnessed an increase of 16.8 per cent in the fiscal year 2023-24. This significant increase marks the highest-ever growth in the country's defence production value. The total value of defence production reached Rs 1,26,887 crore this year, up from the previous year's figures.

India's defence exports surge to Rs 210 billion after global shift towards China+1, Russia-Ukraine war: Report

India’s electric vehicle (EV) sector, often seen as a key player in the country’s clean energy transition, has been called “irrelevant” without government <keyword id="20231384" type="General" weightage="20" keywordseo="incentives" source="keywords">incentives</keyword> by a recent Bernstein research report. The report highlights the serious challenges automakers face in achieving profitability and scaling operations in the EV segment, which remains heavily reliant on financial support from the government. <h2>Struggling to achieve profitability</h2>The Bernstein report reveals that generating profitable margins in the Indian EV sector is proving to be an uphill battle for automakers. “It is tough to generate sufficient margins and get scale in EVs. Even with hefty incentives, incumbent OEMs are still unprofitable,” the report stated. This underscores the fact that even with <keyword id="20022183" type="General" weightage="20" keywordseo="government-subsidies" source="keywords">government subsidies</keyword> aimed at promoting <keyword id="20138204" type="General" weightage="20" keywordseo="electric-mobility" source="keywords">electric mobility</keyword>, automakers are struggling to make EVs financially viable. High production costs, limited infrastructure, and relatively low consumer demand all contribute to this issue. Traditional automakers, particularly in India’s two-wheeler market, are facing significant financial losses. According to Bernstein, while some niche startups may survive, their long-term market share will likely remain limited, and competition will primarily be between established original equipment manufacturers (OEMs). The key challenge for these OEMs is achieving the scale and cost reductions required to compete with the well-entrenched internal combustion engine (ICE) sector. <h2>Reliance on incentives</h2>One of the most striking conclusions from Bernstein’s analysis is the deep reliance of the EV sector on government subsidies. Without these incentives, the <keyword id="19952060" type="General" weightage="100" keywordseo="EV-Industry" source="keywords">EV industry</keyword> would be unable to compete with traditional ICE vehicles. “The EV Industry is not relevant without incentives currently, and to break the ICE sector, it needs intense focus, scale, and continued cost downs,” the report emphasised. This indicates that while government schemes like GST benefits have helped reduce the cost difference between EVs and ICE vehicles, they are not enough to ensure the long-term sustainability of the EV sector. Bernstein estimates that the overall EV two-wheeler industry in India generates around USD 1.3 billion in annual revenues, but without government support, the sector incurs an EBIT loss of approximately USD 300-400 million. The high cost structure of EVs, combined with the relatively low sales volumes, makes it difficult for companies to operate without subsidies. <h2>Established players face mixed fortunes</h2>Among India’s leading two-wheeler manufacturers, Bernstein noted that <keyword id="19897354" type="General" weightage="20" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="265" meta.entityid="Bajaj Auto">Bajaj Auto</keyword> and <keyword id="20326963" type="General" weightage="20" keywordseo="TVS-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motors" meta.hostid="265" meta.entityid="TVS Motors">TVS Motors</keyword> are on a similar footing in terms of their performance in the EV space. Bajaj Auto received an "Outperform" rating from Bernstein due to its lower valuations, while TVS Motors was rated "Market Perform" after it was found to be losing approximately 7.5% in EBITDA, or Rs 11,000 per vehicle, despite generating a gross profit margin of 7% without subsidies. <div type="Article" hostid="261" msid="113631992" title="Tata Nexon EV with a bigger battery launched starting at ₹13.99 lakh" mstype="2" mssubtype="0"></div>Hero MotoCorp, a major player in India’s automotive market, lags behind both Bajaj and TVS in terms of its EV offerings. Bernstein also pointed out that Eicher Motors, which is expected to launch its own <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> soon, is likely to remain “sub-scale and less relevant” in the competitive EV landscape. Interestingly, <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="265" meta.entityid="Ola Electric">Ola Electric</keyword> (Ola-E) stands out as a startup that has been able to generate positive operating earnings (EBITDA) from its premium models like the S1 Pro and S1 Air, even as it incurs losses on its mass-market model, the S1X. “Our analysis indicates that Ola-E is generating positive operating EBITDA from its premium models, such as the S1 Pro and S1 Air while incurring a loss on its mass-market model, the S1X,” the report said. While Ola has shown some promise, it too remains heavily dependent on subsidies to maintain its financial health. <h2>Long-term outlook</h2>Bernstein’s report paints a challenging picture for the future of India’s EV sector, suggesting that while dominant startups may survive, the majority of the competition will come from traditional automakers. However, without significant scale and continued cost reductions, the EV industry will struggle to become self-sustaining. <div type="Article" hostid="261" msid="113315022" title="Waiting for the festive season to buy an EV? Cabinet approves PM E-Drive subsidising most EVs, sans electric cars" mstype="2" mssubtype="0"></div>Bernstein emphasised that to truly compete with ICE vehicles, the EV sector needs to focus on scaling up operations, reducing costs, and maintaining long-term commitment. Until these conditions are met, India’s EV industry will remain highly dependent on government support and may continue to face an uphill battle for relevance. In conclusion, while India’s EV sector is seen as a vital part of the country’s clean energy future, Bernstein’s analysis highlights that it is far from being self-reliant. The industry’s heavy dependence on government incentives raises questions about its long-term sustainability and relevance, particularly in the face of ongoing challenges with profitability and scale. (With inputs from ANI)

Why has Bernstein called India’s EV sector 'irrelevant'?

<ul class="summary-list"><li><keyword id="20948500" type="General" weightage="100" keywordseo="Mira-Murati" source="keywords">Mira Murati</keyword> is leaving <keyword id="19918823" type="General" weightage="20" keywordseo="OpenAI" source="keywords" meta.keywordsubtype="org" meta.entityname="OpenAI" meta.hostid="261" meta.entityid="OpenAI">OpenAI</keyword>, causing shockwaves in the <keyword id="20790511" type="General" weightage="20" keywordseo="tech-sector" source="keywords">tech sector</keyword>.</li><li>Murati's departure follows a series of high-profile exits from OpenAI this year.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/mira-murati-openai-cto-leaving-executive-memo-staff-2024-9">Mira Murati announced on Wednesday</a> that she is leaving OpenAI, where she served as chief technology officer and interim CEO after <keyword id="19918827" type="General" weightage="20" keywordseo="Sam-Altman" source="keywords">Sam Altman</keyword> was briefly ousted in November. Her departure immediately set off shockwaves across the tech sector. <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-09-25/openai-cto-mira-murati-says-she-will-leave-the-company">Bloomberg reported</a> that employees used a "WTF" emoji in Slack in response to the news. There's also rampant speculation on X about why she is leaving — and where she'll end up next. And then, of course, there are the memes on social media, poking fun at the high-profile departures that have happened this year. One VC joked that OpenAI lacked a C-suite. Others pointed to a <a target="_blank" class="" href="https://x.com/_thatstartupguy/status/1839037417912783194?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1839037417912783194%7Ctwgr%5Ef6eb4801b303d0ceadb67d0b3b6778b877e6d9a6%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fmuse.insider.com%2Fstory%2F66f48f0b69657a7deb4de735">2023 </a><a target="_blank" href="https://x.com/_thatstartupguy/status/1839037417912783194?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1839037417912783194%7Ctwgr%5Ef6eb4801b303d0ceadb67d0b3b6778b877e6d9a6%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fmuse.insider.com%2Fstory%2F66f48f0b69657a7deb4de735">Wired magazine cover</a> featuring CEO Altman, Murati, former chief scientist and cofounder Ilya Sutskever, and Greg Brockman, the company's president and cofounder. Wired, at the time, called the OpenAI execs the world's "AI overlords." Of the four, only Altman and Brockman are left at the company, and Brockman is on extended leave through the end of the year. Sutskever announced his departure from OpenAI in May and launched his own AI startup focused on safety. The snark on X, meanwhile, has reached critical mass. A few hours after Murati announced her departure, <a target="_blank" class="" href="https://www.businessinsider.com/sam-altman-openai-note-more-staff-exits-barret-bob-2024-9">two other OpenAi departures </a>were announced on X: Bob McGrew, the company's chief research officer, and Barret Zoph, the vice president of research. Left on the leadership team are CFO Sarah Friar; Chief Scientist Officer Jakub Pachocki, who replaced Sutskever: Chief Operating Officer Brad Lightcap; and Chief Product Officer Kevin Weil. Of the <a target="_blank" class="" href="https://www.ft.com/content/638f67f7-5375-47fc-b3a7-af7c9e05b9e0">11 cofounders</a> of OpenAI from 2015, <a target="_blank" class="" href="https://www.businessinsider.com/crew-of-10-helped-sam-altman-found-openai-dwindled-2-2024-8">only Altman, Brockman (who, again, is on leave), and Wojciech Zaremba remain</a>. One of the cofounders, Elon Musk, has filed a lawsuit against OpenAI. Musk dropped, then reopened the suit in August, saying he believed he was helping start a nonprofit and had been "deceived." OpenAI responded to the lawsuit, <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-fightingwars-alot-of-fronts-2024-8">telling Business Insider</a> in an August statement: "As we said about Elon's initial legal filing, which was subsequently withdrawn, Elon's prior emails continue to speak for themselves." OpenAI did not immediately respond to a request for comment from BI on McGrew and Zoph's departures. The brain drain has also included other high-profile exits, including former researcher and head of alignment <a target="_blank" class="" href="https://www.businessinsider.com/jan-leike-ilya-sutskever-resignations-superalignment-openai-superintelligence-safe-humanity-2024-5">Jan Leike</a>, who announced his resignation in May, shortly after Sutskever. <a href="https://www.businessinsider.com/openai-safety-researchers-quit-superalignment-sam-altman-chatgpt-2024-5" target="_blank">Daniel Kokotajlo and William Saunders</a>, who worked on OpenAI's governance and safety teams, left in the first half of the year. Additionally, OpenAI cofounder John Schulman left in August to join OpenAI rival Anthropic — where Leike also landed. And another cofounder, Andrej Karpathy, left in February 2024. In August, Kokotajlo said that about <a target="_blank" class="" href="https://www.businessinsider.com/openai-lost-nearly-half-agi-safety-team-ex-researcher-2024-8">half of the people focused on AI safety had left the company</a>. "It's not been like a coordinated thing," he told Fortune. "I think it's just people sort of individually giving up." OpenAI, which was founded in 2015, has been the dominant player in the AI race since the launch of ChatGPT in late November 2022. It has since launched more sophisticated versions of ChatGPT, its text-to-image model DALL-E, and GPT 4o. The startup also announced a voice assistant, a text-to-video model named Sora, and its <a target="_blank" class="" href="https://www.businessinsider.com/openai-o1-product-name-strawberry-2024-9">most sophisticated AI model, o1</a>, which the startup said can reason. But rivals — including some OpenAI investors like Microsoft — are catching up. On Wednesday, Meta announced that Meta AI is on track to be "the most used AI assistant in the world." OpenAI's <a target="_blank" class="" href="https://www.businessinsider.com/sam-altman-openai-mission-drift-for-profit-nonprofit-structure-investment-2024-9">latest funding round </a>— which would bring its valuation to $150 billion — is now nearly complete and could include investors like Apple and Nvidia, per <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-09-19/openai-to-decide-which-backers-to-let-into-6-5-billion-funding?embedded-checkout=true">Bloomberg</a>. And Altman, <a target="_blank" class="" href="https://www.businessinsider.com/open-ai-sam-altman-equity-stake-valuation-private-nonprofit-9">according to Reuters</a> and Bloomberg, <a target="_blank" class="" href="https://www.businessinsider.com/open-ai-sam-altman-equity-stake-valuation-private-nonprofit-9">could be in for a large payday</a> with a reported company restructuring that would shift the startup away from its current nonprofit status. Correction: September 26, 2024 — An earlier version of this story misstated when Daniel Kokotajlo and William Saunders left OpenAI. They left in the first half of this year, not last year.

The OpenAI talent exodus has become the joke of the moment in tech world

<ul class="summary-list"><li>The tech industry is anticipating an upswing thanks to Trump's election this week.</li><li>VCs expect possible deregulation to boost innovation, with Musk potentially influencing government policies.</li></ul>Some venture capitalists <a target="_blank" class="" href="https://www.businessinsider.com/silicon-valley-trump-return-startups-venture-capital-2024-11">expect US President Donald Trump</a> to dial back regulation, potentially making it easier to develop new technologies and do business in Silicon Valley. Many of these hopes are pinned on Elon Musk's involvement in the new administration."The most exciting thing of all will be putting Elon in charge of government efficiency," Ben Narasin, founder and general partner of Tenacity Venture Capital, told BI of the election outcome. "He's going to take a chainsaw through calcified butter, and it's going to be awesome to attack the bloat and overreach that we've had in the government."Trump is <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-could-be-donald-trump-advisor-wsj-reports-2024-5">reportedly considering Musk</a> for White House roles, including ones that would audit various federal programs and organizations.Musk, in turn, has proposed creating a "Department of Government Efficiency" — cheekily nicknamed DOGE, <a target="_blank" class="" href="https://www.businessinsider.com/history-elon-musk-love-affair-dogecoin-2022-7">a nod to the cryptocurrency Dogecoin</a> — that he said would remove dealmaking regulations that have slowed M&amp;A in the tech sector in recent years.While many in Silicon Valley dislike Trump, many VCs and startup founders crave more freedom to pursue riskier new technologies unburdened by regulation. In short, tech is stoked about this."Trump-Vance ticket is the first unabashedly pro-tech presidency in our Nation's history," said Augustus Doricko, CEO and founder of cloud seeding startup Rainmaker. He expects an onslaught of tech innovation during the Trump administration.In conversations with more than a dozen VCs and Silicon Valley executives following the election, many have echoed this sentiment — including those who supported Kamala Harris in the election."With a major push to remove unnecessary red tape and over-regulation in key areas, we could really have a century of crazy building, innovation, and acceleration," Aaron Levie, the CEO of cloud company Box and a Harris supporter, <a target="_blank" class="" href="https://twitter.com/levie/status/1854237056287060266">posted on X Wednesday. </a>"Excited for Elon's efforts here."Mark Pincus, an early Facebook investor and the founder of Zynga, responded on X, "Effective accelerationism! E-acc," referring to the recent Silicon Valley movement that wants <a target="_blank" class="" href="https://www.businessinsider.com/effective-accelerationism-humans-replaced-by-ai-2023-12">technological advancements in AI</a> to move as fast as possible, without any guardrails.<h2 id="04af9d99-2642-43c3-875c-92cb63b01ca9">Regulation has held Silicon Valley back in recent years</h2>VCs during Biden's presidency have complained about how tough it's been to get deals done. The outgoing administration was an antitrust enforcer and put many tech mergers and acquisitions on hold that it deemed anti-competitive. This is particularly galling for VCs because they rely on selling startups in M&amp;A deals for many of their exits and returns.Limits on tech M&amp;A have "caused the rate of venture capital return of distributed proceeds to fall drastically, making new capital formation near impossible," said Louis Lehot, a top tech lawyer at law firm Foley &amp; Lardner. Silicon Valley is looking for a relaxation in the government's stance here "to enable exits and new capital formation, which is the cycle of innovation," he added.For example, regulatory pressure had <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-23/google-s-aborted-deals-for-wiz-hubspot-show-antitrust-s-shadow-over-tech">dampened deal-making at Google</a>, with the tech giant abandoning two potential purchases this year, including cybersecurity startup Wiz, which would have been one of the tech giant's biggest-ever acquisitions.The US also opened antitrust investigations into <a target="_blank" href="https://www.businessinsider.com/microsoft-acquihire-deal-inflection-ai-antitrust-probe-us-regulators-competition-2024-6">Microsoft</a> and <a target="_blank" href="https://www.businessinsider.com/elizabeth-warren-backs-justice-department-nvidia-antitrust-investigation-2024-9">Nvidia</a> earlier this year over their dominance in the hot AI space. The Federal Trade Commission is probing Microsoft's aqui-hire of <a target="_blank" href="https://www.businessinsider.com/microsoft-hired-inflection-team-amid-board-concerns-about-openai-2024-3">Inflection AI,</a> and the Department of Justice is investigating Nvidia's acquisition of Israeli AI startup Run:ai.While some lawmakers say that allowing a few companies to influence the majority of AI research, development, and monetization poses an economic risk, <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-vcs-in-silicon-valley-2024-7">many VCs have cried foul and accused FTC commissioner Lina Khan</a> — who has frequently sued to block mergers — of an anti-business bent and say it's tricked down to closing fewer startups deals, too.Investors were also critical of what they call <a target="_blank" href="https://www.businessinsider.com/cryptocurrency-bitcoin-influence-election-trump-harris-2024-10">unclear rules for cryptocurrency under the Biden regulation</a>. Many VCs and founders in the space donated to Trump and other Republican candidates, which they consider more favorable toward crypto technologies and markets.VCs are now hopeful that Trump <a target="_blank" href="https://www.businessinsider.com/donald-trump-presidency-affect-big-tech-2024-11">could roll back</a> some antitrust and crypto policies that a Harris administration may have continued, although nothing is certain about the new administration's approach.Trump's running mate and former VC JD Vance has <a target="_blank" rel=" nofollow" href="https://thehill.com/policy/technology/4491363-vance-biden-ftc-chief-is-doing-a-pretty-good-job/">publicly said</a> that Khan is "doing a pretty good job," referring to her antitrust enforcement for Big Tech companies. At the end of Trump's first term, regulators under his administration launched antitrust investigations into Big Tech companies, including Amazon; and filed antitrust lawsuits against Google and Meta."At a high level, we expect Trump to cut corporate taxes and regulations, helping startup M&amp;A and investment," said Mason Angel, general partner at Industrious Ventures. "We may see new acquisition efforts by big tech with a new FTC director."Musk's influence could also help slim down the government's involvement in tech deals, these VCs told BI."Elon is a positive force who's had to run multiple companies that are heavily regulated, so he has a realistic view; since he's lived it, he can be influential," Narasin said of Musk's track record of building Tesla, SpaceX, and xAI. "He's pro-startup, pro-business, pro-everything that will help the US population. A good, healthy economy is good for everybody."<h2 id="a31623cb-2e54-4906-802e-37c294e98064">VCs anticipate an innovation boom</h2>America is a country of entrepreneurs, and that's especially true in Silicon Valley. Some VCs and founders say that having an entrepreneur like Musk influencing the Trump administration and potentially wiping away regulations will bring prosperity to the industry.Indeed, <a target="_blank" href="https://markets.businessinsider.com/news/stocks/trump-trade-us-presidential-election-dollar-treasuries-stocks-crypto-djt-2024-11">the stock market responded exuberantly</a> to Trump's decisive win on Tuesday night, which could eventually be a boon to venture firms seeking investments. Limited partners such as pensions and endowments have been choosier recently thanks to high interest rates and few exit options for startups. But their return to funding venture firms would, in turn, mean that more founders are building and getting funded."I would like to see the President given the power to unilaterally remove, or at least streamline, regulations around major projects or economic areas that will make it possible to actually build new things," tech blogger Ben Thompson <a target="_blank" class="" href="https://stratechery.com/2024/president-trump-take-two-big-tech-little-tech-chips-and-hardware-elon-musks-triumph/">wrote after the election.</a> "There needs to be a way to cut through all of the red tape that has accumulated.""I think the next four years will be imbued with aspirational mega-projects and visionary initiatives without precedent," Rainmaker's Doricko said. "New cities. Lunar and Martian colonization. Free electricity. Weather control."Angel, whose VC firm invests in the space, industrial, and defense sectors, says that those industries will experience strong growth."Trump created the Space Force in 2019, and his close relationship with Elon Musk will bring renewed attention and government investment into the field," Industrious Ventures' Angel said. "Same goes for the US industrial and defense bases."As various sectors within the tech industry ebb and flow, VCs say they're optimistic about the idea of having one of their own helping to call the shots at the federal level."Elon's going to be an enormously positive monster who delivers a cleaned up, slimmed down, pro-business government, and there will be prosperity for everybody," Narasin said.

Silicon Valley is betting a Musk-inspired Trump could unleash a startup boom

<keyword id="19945815" type="General" weightage="20" keywordseo="startups" source="keywords">Startups</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> have high expectations from this year's upcoming <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword>. Early-age startups hope for the removal of angel taxes, while <keyword id="20677283" type="General" weightage="20" keywordseo="health-tech-startups" source="keywords">health tech startups</keyword> expect increased <keyword id="19913964" type="General" weightage="20" keywordseo="funding" source="keywords">funding</keyword> for the sector. Startups function as engines of economic growth, playing a crucial role in generating new jobs, ideas, products, and services. As of December 2023, the Department for Promotion of Industry and Internal Trade (DPIIT) had recognised 1,17,254 startups. These startups have reportedly created over 12.42 lakh direct jobs, significantly impacting the economy. Eklavya Gupta, CEO and Co-founder of Recur Club, stated, "We are confident that India's business credit landscape is on the brink of a major digital overhaul. FinTechs are at the forefront of this change, deploying innovative technologies and utilising in-depth data analytics to streamline and expand <keyword id="20974354" type="General" weightage="20" keywordseo="credit-access" source="keywords">credit access</keyword>." He added, "While the current allocation of Rs 10,000 crore is an excellent initial step, realising the full capabilities of India's SME and startup ecosystem will necessitate greater investment, especially in credit guarantee schemes." Vinod K Singh, Co-Founder and CTO of Concirrus, expressed his expectations from the budget: "As the Union Budget 2024-25 approaches, we hope the government will address the pressing issue of the 'angel tax.' Eliminating this tax will enhance capital formation and attract vital <keyword id="19895633" type="General" weightage="20" keywordseo="investments" source="keywords">investments</keyword>. Streamlining the duty structure and reducing high tariffs on electronic inputs are also crucial to bolstering the startup ecosystem and driving innovation. Expanding the Fund of Funds and introducing low-interest loans would be beneficial." Rajiv Lamba, co-founder and CEO of AI-enabled customer feedback platform Surveysensum, added, "Just as the government has prioritised financial inclusion, it should now focus on <keyword id="22405441" type="General" weightage="20" keywordseo="technological-inclusion" source="keywords">technological inclusion</keyword> to propel India to the next stage of growth. By training youth in AI, the government can make a strategic investment in the nation's technological future. Given the rapidly evolving job market, a substantial increase of 20 to 25 percent in budget allocation should be considered for AI-based skill development and entrepreneurship." He further emphasised, "Incentivizing investment in <keyword id="20328842" type="General" weightage="20" keywordseo="AI-startups" source="keywords">AI startups</keyword> and R&amp;D initiatives can boost local innovation in the AI space. The last budget introduced a deep tech fund of Rs 1 lakh crore with a 50-year interest-free loan period; the government should now establish a clear and transparent mechanism for access to this fund." Raja S, founder and MD of Hearzap, highlighted the expectations of health tech startups: "Health tech startups are eagerly anticipating increased funding that could usher in transformative advancements. This crucial investment holds the promise of extending cutting-edge healthcare solutions to rural and underserved areas, effectively bridging existing gaps in care. The upcoming budget ensures that every individual in our diverse population, from the youngest to the oldest, can access essential health services, including specialised care." Discussing taxation for startups in India, Vvihan Gulati, Director of Mediagraphics PR, commented, "Removing the angel tax is a highly anticipated move that would benefit early-stage startups and their investors. It would foster a more favourable environment for innovation and growth, allowing startups to attract much-needed capital without the burden of excessive taxation. This change could significantly enhance the ease of doing business and contribute to the overall growth of the startup ecosystem in India." The Union Budget 2024 will be tabled on July 23 by Union Finance Minister Nirmala Sitharaman. With this, she will become the first Finance Minister to deliver seven consecutive budgets, surpassing Morarji Desai. She presented the interim budget on February 1 of this year.

Startups demand angel tax elimination, incentives on investments in upcoming budget

India's economic engine is roaring, and the job market reflects that optimism. The latest <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> 2023-2024 paints a picture of a growing economy brimming with opportunities, but also cautions of potential roadblocks on the road to success. <h2>Cause for celebration</h2>The good news is plentiful, if the recent Economic Survey tabled by <keyword id="20426375" type="General" weightage="20" keywordseo="Union-Finance-Minister-Nirmala-Sitharaman" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Finance Minister Nirmala Sitharaman" meta.hostid="261" meta.entityid="Union Finance Minister Nirmala Sitharaman">Union Finance Minister Nirmala Sitharaman</keyword> is to be believed. The <keyword id="20054242" type="General" weightage="20" keywordseo="unemployment-rate" source="keywords">unemployment rate</keyword> has dipped to an impressive 3.2% in 2022-23, signifying a more vibrant job market. Increased participation of young people and women in the workforce presents a golden opportunity to leverage India's demographic dividend and achieve greater gender equality. Additionally, a surge in net payroll additions under the Employees' Provident Fund Organisation (EPFO) indicates a healthy rise in formal jobs, offering much-needed security for workers. The government's "Skill India" initiative is gaining traction, with a significant rise in the number of people undergoing skill development programs, the Economic Survey highlighted. This is crucial, as India's burgeoning tech scene, with its skyrocketing number of startups, is creating a wealth of new opportunities that demand a skilled workforce. <div type="Article" hostid="261" msid="111920956" title="FM Nirmala Sitharaman tables Economic Survey 2023-24 in Lok Sabha" mstype="2" mssubtype="0"></div> <h2>Challenges on the horizon </h2>However, amidst the optimism, there are challenges to navigate. While <keyword id="107950" type="General" weightage="20" keywordseo="artificial-intelligence" source="Orion">Artificial Intelligence</keyword> (AI) promises to revolutionise industries, it also poses a threat to some existing jobs. The Economic Survey emphasises the need to use technology for collective benefit, advocating against over-reliance on automation. Another significant hurdle is the widening <keyword id="21466653" type="General" weightage="20" keywordseo="skills-gap" source="keywords">skills gap</keyword>. The rapid transformation of the <keyword id="20001119" type="General" weightage="20" keywordseo="services-sector" source="keywords">services sector</keyword>, marked by the rise of domestic service delivery powered by technology (think online food delivery and home automation) and the diversification of India's services exports beyond traditional sectors like IT, demands a workforce equipped with specialised skills. Areas like Blockchain, Machine Learning, <keyword id="19906883" type="General" weightage="20" keywordseo="cybersecurity" source="keywords">Cybersecurity</keyword>, <keyword id="19960489" type="General" weightage="20" keywordseo="cloud-computing" source="keywords">Cloud Computing</keyword>, and Web and Mobile Development are becoming increasingly important. Outdated regulations, particularly those related to land use and restrictions on women's working hours, are further hindering job creation and female labour force participation. Deregulation in these areas is crucial to unlock India's full growth potential, according to the Economic Survey. The report also highlights the need for industry to take the lead in fostering innovation and skill development. Collaboration with academia and revamped vocational education programs are key to bridge the current skill gap. <div type="Article" hostid="261" msid="111922453" title="AI casts huge pall of uncertainty over impact on workers across skill levels: Economic Survey" mstype="2" mssubtype="0"></div> <h2>Opportunities beyond tech</h2>The Economic Survey identifies promising sectors with the potential to create a significant number of jobs: <ul><li>Agro-processing: This sector can be a major job generator, especially in rural areas.</li><li>Care Economy: The growing demand for elder care and childcare services presents an opportunity for skilled professionals.</li><li>Tourism: While AI might moderate India's services export growth, the report emphasises the importance of the <keyword id="20260982" type="General" weightage="20" keywordseo="tourism-sector" source="keywords">tourism sector</keyword>, which is relatively less skill-dependent, for employment generation. To capitalise on this opportunity, public policy should focus on enhancing the tourism sector's infrastructure and services.</li></ul><h2>Upskilling for the future</h2>India's job market is on an exciting trajectory. But addressing the skills gap, adapting to technological advancements and promoting innovation is crucial. By upskilling the workforce through government and industry collaboration, India can become a high-value partner in areas like cybersecurity and enterprise management. <div type="Article" hostid="261" msid="111923191" title="Economic Survey 2024 – industries grow by 9.5%, fueling economic growth to 8.2%" mstype="2" mssubtype="0"></div>

Economic Survey 2023-2024 highlights emerging job trends in AI, Cybersecurity, 3D Printing and Web Development

Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> urged CEOs of US majors to take advantage of India's growth story as the country is making all efforts to become the third largest economy of the world in his third term. India is currently the fifth largest economy of the world after the US, China, Germany and Japan with a GDP of around USD 3.9 trillion. India has been the fastest growing large economies of the world with GDP growth rate of over 7 per cent for the last three consecutive years. Addressing CEOs of the large US tech firms on Sunday, Modi said India will make every effort to become the third largest economy in the world in his third term (2024-29). Companies should take advantage of India's growth story for collaboration and innovation by co-developing, co-designing, and co-producing in India for the world, harnessing the opportunities from the country's economic and technological growth, he said. Assuring the business leaders of India's deep commitment to the protection of intellectual property and to fostering tech innovation, Modi highlighted the economic transformation happening in the country, particularly in electronics and information technology manufacturing and semiconductors. Modi asserted that his government was committed to making India a "global hub of <keyword id="20073013" type="General" weightage="20" keywordseo="semiconductor-manufacturing" source="keywords">semiconductor manufacturing</keyword>". The meeting took place at the Lotte <keyword id="19904497" type="General" weightage="20" keywordseo="New-York" source="keywords">New York</keyword> Palace Hotel on Sunday during the second leg of Modi's three-day US visit. It saw the participation of CEOs of 15 major US-based firms working on cutting-edge technologies such as AI, quantum computing and semiconductors. "Had a fruitful roundtable with tech CEOs in New York, discussing aspects relating to technology, innovation and more. Also highlighted the strides made by India in this field. I am glad to see immense optimism towards India," Modi said in a post on X. During the conference, Modi said technology collaboration and efforts such as the Initiative on Critical and Emerging Technologies (ICET) lie at the core of the India-US Comprehensive Global Strategic Partnership, according to a Ministry of External Affairs press release. Organised by the Massachusetts Institute of Technology (MIT) School of Engineering, the CEOs of top US tech firms, including Google CEO Sundar Pichai, Adobe CEO Shantanu Narayena, Accenture CEO Julie Sweet and NVIDIA CEO Jensen Huang attended the meeting. Others who participated in the roundtable included AMD CEO Lisa Su, HP Inc. CEO Enrique Lores, IBM CEO Arvind Krishna, Dr Noubar Afeyan, Chairman of Moderna, and Verizon CEO Hans Vestberg. Modi also talked about India's BIO E3 (biotechnology for environment, economy and employment) policy to develop the country into a biotech powerhouse and on the topic of AI, noted that India's policy is to promote AI for all, underpinned by its ethical and responsible use. The CEOs appreciated India's growing prominence as a global technology hub, driven by its innovation-friendly policies and flourishing market opportunities. They also expressed strong interest in investing and collaborating with India, agreeing that investing in startups would be a synergistic opportunity to innovate and develop newer technologies in the country. Others who attended the conference included Biogen Inc CEO Chris Viehbacher, CEO of Bristol Myers Squibb, Chris Boerner, Eli Lilly and Company CEO David A. Ricks, LAM Research CEO Tim Archer, GlobalFoundries CEO Thomas Caulfield, and the CEO of Kyndryl, Martin Schroeter. "Further cementing technology and business connect. PM @narendramodi interacted with the top tech leaders and CEOs of USA, in a Roundtable hosted by the Massachusetts Institute of Technology School of Engineering, in New York today. PM emphasised India's growth prospects and discussed initiatives to foster collaborations and innovation across diverse sectors," the official account of the MEA said in a post on X. The prime minister had a separate meeting with Krishna P Singh, CEO of Holtec International, which is into nuclear and solar power generation. They discussed Holtec's plan for expanding manufacturing in India and advancing energy cooperation, PMO India said in a post on X. Earlier on Sunday, Modi addressed the <keyword id="20115166" type="General" weightage="20" keywordseo="Indian-diaspora" source="keywords">Indian diaspora</keyword> at the packed Nassau Veterans Coliseum on Long Island in New York. He also held bilateral meetings with world leaders at the sidelines of the UN General Assembly session here. Modi reached New York on Saturday after attending the Quad Leaders' Summit hosted by President Joe Biden in Wilmington, Delaware. <div type="Article" hostid="261" msid="113516805" title="Why is Indian Prime Minister Narendra Modi visiting the US this weekend?" mstype="2" mssubtype="0"></div>

You Searched For "startup sectors" and got 11 results

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Silicon Valley is betting a Musk-inspired Trump could unleash a startup boom

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Startups demand angel tax elimination, incentives on investments in upcoming budget

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Economic Survey 2023-2024 highlights emerging job trends in AI, Cybersecurity, 3D Printing and Web Development

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