Page 44 - Investment

Apac biz to triple spends on GenAI to $3.4 bn in 2024: Infosys Research

Asia Pacific businesses are sprucing up investments in generative AI (GenAI) and projected to nearly triple spends on this technology to USD 3.4 billion in 2024 across Australia, New Zealand, China, Japan, India, and Singapore, according to Infosys Research. While the spending trails North America, APAC's adoption, effectiveness, and growth are among the highest globally, it said. "Companies across Asia-Pacific are quickly ramping up investments in generative AI and entering a higher stage of maturity," the IT major's research arm, Infosys Knowledge Institute (IKI), said in the research. While APAC companies currently lag behind their North American counterparts in GenAI spending, the research forecasts a bigger increase than in any other region, that is 140 per cent. "This translates to an estimated USD 3.4 billion to be invested across Australia, New Zealand, China, Japan, India, and Singapore," it said. Infosys' Generative AI Radar APAC report includes insights from interviews

SSWC&MA approves Rs 1,937 cr project proposals for industrial expansion

The State Single Window Clearance & Monitoring Authority (SSWC&MA) has approved 27 project proposals for setting up new industrial enterprises and undertaking substantial expansion of existing units with proposed investment of around Rs 1,937 crore. SSWC&MA has approved Rs 1,937 crore project proposals and employment opportunities for 2,715 people, according to a press statement issued here on Saturday. The decision was taken during the 28th meeting of the SSWC&MA, which was presided over by Chief Minister Sukhwinder Singh Sukhu. The new proposals approved by the Authority include proposals of Xenone Healthcare and Master Formulations CO for manufacturing of tablets, capsules and ointments. Some of the other approved proposals include that of Gowthami Aquachem for manufacturing of Sodium Chlorite, Him Deep Alkalies Chemical for manufacturing of Caustic Soda Liquid, Hydrogen and Chlorine, Agro Farm Ventures for setting up a cold store, Scottill Healthcare for ...

'Fund inflow in real estate from foreign investors dips 30% to $2.73 bn'

The inflow of funds in Indian real estate from foreign investors fell 30 per cent to USD 2.73 billion last year, but the influx jumped more than two times from domestic players to USD 1.51 billion, according to real estate consultant Vestian. According to Vestian data, the total institutional investments in real estate declined 12 per cent to USD 4.3 billion in 2023, from USD 4.9 billion in the previous year. The consultant highlighted that investments from foreign funds fell 30 per cent annually because of their cautious approach, but rose 120 per cent from domestic investors. Domestic investors pumped in USD 1,511 million (USD 1.5 billion) last year, as against USD 687 million in the 2022 calendar year. However, the inflow from foreign funds stood lower at USD 2,733 million last year, as against USD 3,926 million in 2022. Accordingly, the share of domestic investors increased to 35 per cent in 2023 from 14 per cent in 2022. Shrinivas Rao, CEO of Vestian, said, "Despite uncertai

Silver imports likely to pick up pace after falling over 63% in 2023

High prices and previous year's base weighed on the precious metal

Sebi's new disclosure norms likely to impact few FPIs due to exemptions

No panic selling entailed as funds affected will have six months to rebalance their portfolio

Meity to seeks govt nod for India AI program entailing Rs 10,000 cr: MoS IT

The Ministry of Electronics and IT (Meity) will seek cabinet approval for the India AI program, which includes the setting up of GPU-based servers in public-private partnership mode with an outlay of over Rs 10,000 crore, Minister of Electronics and IT Rajeev Chandrasekhar said on Tuesday. Working groups formed by the government on Artificial Intelligence (AI) on Friday recommended setting up a three-tier compute infrastructure comprising 24,500 Graphics Processing Units (GPUs). "India AI program is worth over Rs 10,000 crore. It (the proposal) will be taken with cabinet for approval," Chandrasekhar said on the sidelines of the inauguration of a semiconductor-focussed software company Synopsys. The minister said the AI program will be based on public-private partnership under which computer infrastructure capacity will be built both in private data centres as well as in data centres that are run by public firm CDAC. The demand for GPU-based servers has increased as it can process d

Global cos at WEF view India as attractive investment spot: DPIIT secy

India was viewed favourably by major global corporations attending the recently concluded World Economic Forum (WEF) meet at Davos (Switzerland), a top government official has said. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh, who was part of the Indian delegation to WEF, also said that he met several CEOs at Davos and discussed ways to facilitate investments in the country. "During the WEF, there was a distinct uptick in the investment sentiment regarding major corporations, with an observable trend of expansive visions for growth in India," Singh told PTI. He met Martin Lundstedt, President and Chief Executive Officer of Volvo; Gernot Doellner, Chairman and CEO, Audi; and Darrell Brown, President and CEO, Ecolab; among other high-level officials. "At WEF, India's investment landscape was being viewed favourably," he said. Singh added that some of the global companies at Davos provided feedback on the implementation of a ...

Mahindra Logistics to invest Rs 170 crore in warehousing facility in Maha

Mahindra Logistics Limited (MLL) on Tuesday announced the construction of its warehousing facility in Phaltan, near Pune with an investment of Rs 170 crore. Spread over 6.5 lakh square feet (sq ft), the new facility will be developed in two phases. The first phase, comprising 3.5 lakh sq ft, is scheduled to be operational by the end of 2024, the company said in a statement. Mahindra Logistics will manage inbound logistics to manufacturing and distribution solutions of diverse clients in automotive and manufacturing sectors located in the region, the company said. The company and its partners are set to invest Rs 170 crore across multiple phases for the development of the new facility and related infrastructure. "To enhance our capabilities and meet the rising demand, we are expanding our multi-client warehousing network across India. Our latest facility in Phaltan is strategically located to augment the overall business ecosystem for our valued clientele in the region," said ...

AAP brought Punjab to brink, 85% fall in investment is alarming: BJP

"Reports appearing in the media suggested that there was more than an 85 percent decline in the investments coming to the state, which was a cause for alarm for Punjab, "Chugh told ANI

Investments, incentives for Generative AI can boost job creations: Experts

Major investments in generative AI (artificial intelligence), incentives from the government and open-source content can boost employment generation and reduce disparities in the country, say experts. Generative artificial intelligence refers to the use of new-age technology to create new content like text, images, music, audio, and videos. "Generative AI will boost new job roles and can help people with limited skill levels perform higher level jobs, thus reducing the economic divide", said Vishal Talwar, Director, IMT Ghaziabad in a statement. According to the statement, highlighting the need for robust infrastructure and special provisions in the upcoming budget for Generative AI-related innovation, IMT Ghaziabad steered a key discussion on Generative AI's role in skill development, job creation, and business education transformation earlier this month. The deliberations concluded that major Investments in Generative AI can boost employment and reduce disparities in ...

Maharashtra signs investment MoUs worth Rs 3.53 trillion at Davos

Maharashtra Chief Minister Eknath Shinde on Friday said he is resolute in leading the state to its ambitious target of becoming a USD 1 trillion economy as the state government secured investment MoUs worth Rs 3.53 lakh crore (USD 44 billion) this week at the World Economic Forum Annual Meeting. The state also received an expression of interest for an additional Rs 1 lakh crore investment, taking the total to Rs 4.5 lakh crore (nearly USD 57 billion) with a potential to create about two lakh jobs across sectors, including electronics, IT, data centres, gems and jewellery, agriculture, automobile and renewable energy, an official statement said. During his visit here accompanied by Industries Minister Uday Samant and several senior officials, Shinde signed 19 MoUs (Memoranda of Understanding). Presenting Maharashtra as the premier investment hub under the theme "Bringing Confidence during a changing World", Shinde held meetings with a large number of global political leaders, industr

India could ease China investment curbs if border stays calm: Official

In 2020, India tightened scrutiny on investments from companies based in countries it borders, adding a layer of vetting and security clearances.

FinAGG Technologies bags $11 mn funding led by Blue Orchard, Tata Capital

FinAGG Technologies, engaged in MSME financing space, has raised USD 11 million (over Rs 91 crore) in a funding round co-led by global impact investment manager BlueOrchard and Tata Capital Ltd. The Series A funding round also saw participation from the Small Industries Development Bank of India (SIDBI) and existing investor Prime Venture Partners, a release said on Thursday. Additionally, FinAGG secured capital from Gray Matter Capital through Non-Convertible Debentures (NCDs) to empower women entrepreneurs financially. The latest funds infusion will be directed towards expanding FinAGG's offline and online presence, enhancing global outreach, and driving product innovation, it added. "The money that we have raised will go into bringing disruptive changes in this industry. Our Product and Engineering department is currently working on bringing blockchain to an industry which worked on conventional pen and paper underwriting until recently. These new features will help us look at .

WEF 2024: UP Govt, Hero Group sign MoU worth Rs 4,000 crore at Davos

Hero Future Energies (HFE), part of business conglomerate Hero Group, has signed a memorandum of understanding here with the Uttar Pradesh government for investing Rs 4,000 crore in a renewable energy and clean technology project. The MoU was signed by Agriculture Production Commissioner and Infrastructure & Industrial Development Commissioner of the Uttar Pradesh government Manoj Kumar Singh and Hero Future Energies Chairman and MD Rahul Munjal on the sidelines of the World Economic Forum Annual Meeting here. The company currently has a portfolio of 3 GW of grid-connected wind, solar and rooftop solar power generating assets operating in India and Europe, and another 2 GW of projects are in the pipeline across India, Vietnam, Bangladesh, and the UK. The Uttar Pradesh delegation also met senior representatives of HCL Technologies, Unilever, Nestle, Microsoft and ReNew here.

Aadhaar will not be considered as valid proof of date of birth: EPFO

Retirement fund body EPFO has said it will no longer use Aadhaar as a valid document for proof of date of birth. In an official circular on January 16, the Employees' Provident Fund Organisation (EPFO) said the decision to remove Aadhaar was taken following a directive from the Unique Identification Authority of India (UIDAI). As per the circular, Aadhaar is also being removed from the list of documents for correction in date of birth. The UIDAI in a circular on December 22, 2023, had said an Aadhaar number can be used for establishing identity of an individual, subject to authentication, and thereby, per se, it is not a proof of date of birth. The UIDAI also noted that many bodies likes the EPFO have been using Aadhaar to validate date of birth. UIDAI had also said that many high courts in their orders have highlighted that Aadhaar is not a valid proof of date of birth. Various documents like birth certificate issued by the Registrar of Births and Deaths, marksheet issued by any

Tata Technologies to invest $1.8 bn in Telangana to set up skilling centres

The investment from the unit of Tata Motors is the second commitment to the Telangana government in two days after the Adani Group announced a $1.49 billion investment on Wednesday

Ethiopia opens up to foreign investment firms ahead of markets launch

The justice ministry authorised the capital markets regulator this week to go ahead with issuing the licences, said Brook Taye, Director General of the Ethiopian Capital Market Authority

Mahindra Holidays & Resorts to invest Rs 800 cr to set up 3 resorts in TN

Mahindra Holidays & Resorts India Ltd on Thursday said it will invest Rs 800 crore in Tamil Nadu to build three greenfield resorts over the next five to six years. The company has signed an MOU with the Tamil Nadu government for the same, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a statement. It will directly generate employment opportunities for over 1,500 people, thereby contributing to the overall economy of the state, it added. "With this significant investment, MHRIL will double its footprint in Tamil Nadu, with Club Mahindra already operating resorts in Ooty and Kodaikanal," the company said. This would be the second-largest investment by MHRIL, following the Rs 1,000 crore investment in Uttarakhand last year. These investments are part of the company's expansion plans to increase room inventory from 5,000 to 10,000 by 2030, the statement said. Further, MHRIL said as part of its commitment to sustainability and aim to achieve carbon neutrality by 2040, all ...

'UP govt okays Rs 2,940 cr for expansion of YEIDA, UPSIDA, UPEIDA'

The Uttar Pradesh government on Wednesday approved Rs 2,940 crore in funds for industrial bodies YEIDA, UPSIDA and UPEIDA, Cabinet minister Nand Gopal Gupta said. The funds are for expansion of the Yamuna Expressway Industrial Development Authority (YEIDA), the UP State Industrial Development Authority (UPSIDA) and UP Expressways Industrial Development Authority (UPEIDA), he said. Gupta, the industrial development minister, said the newly formed Bundelkhand Industrial Development Authority has been earlier granted Rs 3,000 crore for land acquisition. "In the financial year 2023-24, Rs 8,000 crore was set aside for industrial expansion in the state. Of the remaining Rs 5,000 crore, Rs 1,000 crore has been approved for UPEIDA, Rs 1,500 crore for YEIDA and Rs 440 crore for UPSIDA," Gupta said in a statement. "So far, a total of Rs 7,042.67 crore has been approved for the expansion of all industrial development authorities," the minister added. Gupta said the state government is commi

Adani Group to invest Rs 50,000 cr to set up data centre in Maharashtra

Adani Group will invest Rs 50,000 crore over the next 10 years in setting up a 1 GW data centre in Maharashtra, the apples-to-airport conglomerate said on Wednesday. Adani Enterprises Ltd, the flagship company of the group, and the Maharashtra government, signed a memorandum of understanding (MoU) for setting up the 1 GW (gigawatt) hyperscale data infrastructure. The MoU was signed in the presence of Maharashtra Chief Minister Eknath Shinde and Adani Group Chairman Gautam Adani at the World Economic Forum 2024 in Davos, it said in a statement. "The data centre infrastructure, which will be set up in key locations such as Mumbai or Navi Mumbai and Pune, will be powered by renewable energy, which will enhance the green energy infrastructure in Maharashtra, and provide direct and indirect employment to 20,000 people," it said. Adani Group also intends to make deemed distribution investments to power the proposed data centre infrastructure. The Maharashtra government is interested in