Page 387 - Industry News
Trai to discuss OTT apps regulation; expedite Satcom framework: Chairman
Lahoti said Trai has only recommended the framework that should be implemented under the Telecommunications Act 2023 for allowing the provisioning of services
 "Trai to discuss OTT apps regulation; expedite Satcom framework: Chairman")
AI global market may touch $990 bn by 2027 with 40-55% AGR: Report
As AI expands, the need for computing power will radically expand the scale of large data centers over the next five to 10 years, it added
 "AI global market may touch $990 bn by 2027 with 40-55% AGR: Report")
Fashion retailers may see up to 15% revenue growth in FY25: Report
Icra expects fashion retailers to report marginal sequential sales growth in Q2 FY2025, especially with the shift from the festive season to Q3 this year
 "Fashion retailers may see up to 15% revenue growth in FY25: Report")
Diamantaires likely to witness 25-27% decline in revenue in FY25: Report
The report stated that tepid demand amid decreasing prices has seen diamond polishers limiting the purchase of roughs and have curbed manufacturing
 "Diamantaires likely to witness 25-27% decline in revenue in FY25: Report")
Coal imports rise marginally by 0.9% to 90.51 MT in Apr-Jul of FY25
According to coal ministry, coal imports during April-July period of FY25 reported a marginal increase of 0.9 per cent, reaching 90.51 million tonnes (MT) level compared to 89.68 MT in the last year
 "Coal imports rise marginally by 0.9% to 90.51 MT in Apr-Jul of FY25")
Bill to decriminalise minor biz offences may be tabled in Budget 2025
To further decriminalise minor offences, Jan Vishwas Bill 2.0 is expected to be tabled in the next Budget session, says Minister of Commerce and Industry Piyush Goyal
 "Bill to decriminalise minor biz offences may be tabled in Budget 2025")
Defence production at Rs 1.27 trn, exporting hardware to 90 nations: Min
In the last few years, the government has taken a series of measures to promote the domestic defence industry
 "Defence production at Rs 1.27 trn, exporting hardware to 90 nations: Min")
bp Plc meets in India, reflects confidence in country's opportunities
bp's activities in India also include Castrol lubricants, oil and gas trading, and clean energy projects
 "bp Plc meets in India, reflects confidence in country's opportunities")
Dairy sensitive sector; no plans to open up in any FTAs: Piyush Goyal
He said that India has not given any duty concessions in the dairy sector even to Switzerland and Norway under the EFTA (European Free Trade Association) trade pact, which was signed in March
 "Dairy sensitive sector; no plans to open up in any FTAs: Piyush Goyal")
Probe into EY India office reveals it lacked labour welfare permit
The law caps the maximum working hours for adults at nine hours each day and 48 hours each week
 "Probe into EY India office reveals it lacked labour welfare permit")
New challenge: Feature phone companies likely to red flag DoT mandate
New requirements for feature phones to support 'auto readout' of emergency messages will increase their cost due to the need for more memory
 "New challenge: Feature phone companies likely to red flag DoT mandate")
More urban shoppers opting for quick commerce platforms: NIQ study
31% buyers rely on quick commerce for their main grocery needs, while 39% use it for top-up purchases
 "More urban shoppers opting for quick commerce platforms: NIQ study")
Telcom firms, Scindia discuss AGR, OTP apps exclusion from licensing rules
Telecom firms have been demanding for a long time to bring calling and messaging apps, called as OTTs, under the ambit of telecom licences as they provide calling and messaging services
 "Telcom firms, Scindia discuss AGR, OTP apps exclusion from licensing rules")
AI adoption will continue to accelerate in India, says IBM's Sandip Patel
Patel noted that while over 30% of Cloud spending is wasted, the issue with AI is not waste but insufficient scaling
 "AI adoption will continue to accelerate in India, says IBM's Sandip Patel")
Shankh Air gets approval to soar, set to be Uttar Pradesh's first airline
Shankh Air, Uttar Pradesh's first scheduled airline, will hub at Lucknow and Noida, connecting major Indian cities with high-demand interstate and intrastate routes
 "Shankh Air gets approval to soar, set to be Uttar Pradesh's first airline")
Makers of electronic goods and telecom gear oppose draft recycling rules
Meity officials support the view of associations representing manufacturers
 "Makers of electronic goods and telecom gear oppose draft recycling rules")
Piyush Goyal promises to take up financing issues of realtors with RBI
Addressing a conference organised by realtors' apex body CREDAI, Goyal highlighted that the new realty law RERA has brought transparency and certainty in the real estate sector
 "Piyush Goyal promises to take up financing issues of realtors with RBI")
Future bright for manufacturing as Make in India celebrates 10 yrs: Goyal
Internationally, the image of the country was down and the country was categorised as a 'fragile five' economy, Piyush Goyal said, adding, it took this government some time to earn trust of investors
 "Future bright for manufacturing as Make in India celebrates 10 yrs: Goyal")
Airlines, hotels make up 70% of India's $53 billion travel market: Deloitte
In 2023, airlines and hotels made up 70% of India's $53 billion travel market, with corporate travel valued at $10.6 billion. By 2030, the Indian travel industry is expected to touch $97 billion
 "Airlines, hotels make up 70% of India's $53 billion travel market: Deloitte")
FIEO urges Centre to extend interest subvention scheme for 5 years
The scheme helps exporters from identified sectors and all MSME manufacturer exporters to avail of rupee export credit at competitive rates at a time when the global economy is facing headwinds
 "FIEO urges Centre to extend interest subvention scheme for 5 years")