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Bengaluru Tech Summit 2024 to host 2,500 plus startup attendees The 27th edition of Bengaluru Tech Summit (BTS) 2024, organised by Karnataka's Electronics, IT, and Biotechnology Department, is set to take place from November 19-21 at Bengaluru Palace here.   The BTS 2024 will host more than 2,500 startup attendees, said an official statement by the Karnataka IT and Biotechnology Department.  This year, the central theme of BTS, 'Breaking Boundaries', is being elevated to the next level with 'Unbound'.  BTS 2024...
Bengaluru Tech Summit 2024 to host 2,500 plus startup attendees
Bengaluru Tech Summit 2024 to host 2,500 plus startup attendees
Source: IANS
2024-11-16 08:45:22 am
Look forward to boost dynamic tech partnership between India-US under Trump: Nasscom  Indian IT industry’s apex body Nasscom on Wednesday congratulated Republican candidate Donald Trump on his victory in the US presidential polls, saying they look forward to working closely with the new US administration to strengthen the dynamic tech partnership between the two nations.   The tech sector is the key to the US-India bilateral engagement. The US is the largest market for India's $254 billion tech sector where its overall contribution is $80 billion to the...
Look forward to boost dynamic tech partnership between India-US under Trump: Nasscom
Look forward to boost dynamic tech partnership between India-US under Trump: Nasscom
Source: IANS
2024-11-06 06:02:36 pm
India now ranks 6th in share of GenAI startups among major economies India’s Generative AI (GenAI) ecosystem saw the total number of startups surging 3.6 times, from over 66 in the first half of 2023 to more than 240 in the first half this year, a Nasscom report said on Wednesday. India now ranks sixth globally in the share of GenAI startup ecosystems among major economies.  Despite an early-stage focus, the GenAI startups attracted over $750 million in cumulative funding since 2023, with 75 per cent startups in the January-June period in 2024 no...
India now ranks 6th in share of GenAI startups among major economies
India now ranks 6th in share of GenAI startups among major economies
Source: IANS
2024-10-16 01:47:10 pm
Nasscom to nurture 37 homegrown GenAI startups in 2nd cohort IT industry’s apex body Nasscom on Thursday announced the selection of 37 Generative AI (GenAI) startups and 30 per cent of them have women in their founding teams.  The startups, which include Fluid AI, Sivi, DaveAI, OnFinance and others, have been chosen for the second cohort of the Nasscom’s 'Generative AI Foundry' programme. The average startup in the cohort is two-year-old and has already raised $750,000 from institutional investors. “Homegrown Gen...
Nasscom to nurture 37 homegrown GenAI startups in 2nd cohort
Nasscom to nurture 37 homegrown GenAI startups in 2nd cohort
Source: IANS
2024-09-19 03:29:24 pm
Most Indian firms progressing to mid-level maturity stage on AI  Majority of Indian organisations are progressing to the mid-level maturity stage on artificial intelligence (AI), with defined strategies and initial implementation of select use cases while aiming to scale these solutions further, a Nasscom report showed on Thursday.  While 75 per cent of the surveyed organisations have AI strategy defined at proof of concept (PoC) level, 40 per cent show moderate-to-high maturity in PoC-to-production. The Nasscom-EY report mentioned that to...
Most Indian firms progressing to mid-level maturity stage on AI
Most Indian firms progressing to mid-level maturity stage on AI
Source: IANS
2024-08-29 01:58:02 pm
Rajesh Varrier new Chairman & MD India at Cognizant, Rajesh Nambiar becomes Nasscom president IT company Cognizant on Wednesday announced the appointment of Rajesh Varrier as Chairman and Managing Director, India, effective from October 1, as Rajesh Nambiar leaves the company to become President of IT industry's umbrella body Nasscom.  Debjani Ghosh, the current President of Nasscom, said in a post on X social media platform that her time at the apex IT industry chamber “has been one of the most enriching experiences of my career”. Meanwhile, Varrier will al...
Rajesh Varrier new Chairman & MD India at Cognizant, Rajesh Nambiar becomes Nasscom president
Rajesh Varrier new Chairman & MD India at Cognizant, Rajesh Nambiar becomes Nasscom president
Source: IANS
2024-08-22 09:49:01 am
India likely to need 12.5 lakh AI-skilled professionals by 2027 As India aims to become a global leader in artificial intelligence (AI), the talent demand in the country is projected to grow from 6 lakh–6.5 lakh to more than 12.5 lakh by 2027, a report showed on Tuesday.  The AI market in the country is expected to grow at 25–35 per cent (in the 2022-2027 period), potentially signalling a demand-supply gap in the talent pool and a need for upskilling existing talent, according to the report by Deloitte India in collaboration with Nassc...
India likely to need 12.5 lakh AI-skilled professionals by 2027
India likely to need 12.5 lakh AI-skilled professionals by 2027
Source: IANS
2024-08-20 04:52:09 pm
AI in Indian healthcare market to reach $1.6 billion by 2025 Artificial intelligence (AI) in the Indian healthcare market is growing at a compound annual growth rate (CAGR) of 40.6 per cent and is estimated to reach $1.6 billion by 2025, a report showed on Tuesday.  Expected to reach $650 billion by 2025, the overall healthcare sector in India has been growing at a CAGR of 22.5 per cent between 2016 to 2022 and is diversifying in terms of products, services, and markets, according to the report by Nasscom and Kantar. AI technology promises a...
AI in Indian healthcare market to reach $1.6 billion by 2025
AI in Indian healthcare market to reach $1.6 billion by 2025
Source: IANS
2024-08-13 05:48:36 pm
Most women keen to use GenAI for career growth, just a third trained to use A significant majority of women find it crucial to use Generative Artificial Intelligence (AI) to boost their careers, yet only one-third are prepared by employers to use the technology, said a report on Thursday.  The report by the IT industry’s apex body Nasscom was launched on the sidelines of the Nasscom Global Inclusion Summit at Bengaluru. The findings point out that women view Gen AI tools as a significant boost to their perceived competence. About 45 per cent of the s...
Most women keen to use GenAI for career growth, just a third trained to use
Most women keen to use GenAI for career growth, just a third trained to use
Source: IANS
2024-08-08 05:48:25 pm
CII, Nasscom join hands to digitally skill 1 lakh non-IT professionals in 2 years The Confederation of Indian Industry (CII) and Nassom on Monday joined hands to provide digital skills to youth in sectors other than IT, with an aim to reskill and upskill 1 lakh youth in the coming two years.  Seven target sectors have been identified to begin with, including banking, financial services and insurance (BFSI), manufacturing, logistics, healthcare, green jobs, hospitality and live sciences, the top industry chambers said in a statement. “Our partnership will e...
CII, Nasscom join hands to digitally skill 1 lakh non-IT professionals in 2 years
CII, Nasscom join hands to digitally skill 1 lakh non-IT professionals in 2 years
Source: IANS
2024-07-01 04:05:03 pm
India now has 3,600 deeptech startups, ranks 6th globally: Nasscom India now ranks sixth among the top nine deeptech ecosystems globally with 3,600 such startups, which received $850 million funding last year, a Nasscom report said on Thursday.  From 3,600 startups, over 480 were established last year — two times higher than the number established in 2022 -- according to the report by Nasscom and Zinnov. Of these 480 startups launched in 2023, over 100 are “inventive deeptech firms that have developed intellectual property or innovativ...
India now has 3,600 deeptech startups, ranks 6th globally: Nasscom
India now has 3,600 deeptech startups, ranks 6th globally: Nasscom
Source: IANS
2024-06-20 05:01:42 pm
Indian firms fast adopting Digital Twin tech to boost transformation As the government doubles down on the 'Digital Twin' technology adoption, 90 per cent of the enterprises in the country are aware of digital or virtual twins that could play a crucial role in accelerating their growth journey, a report showed on Monday.  According to the report by Dassault Systemes and Nasscom, 45 per cent of 'Virtual Twin' deployments take nearly 12-24 months at each level of product, process, or system virtual twin. The 'Virtual Twin' adop...
Indian firms fast adopting Digital Twin tech to boost transformation
Indian firms fast adopting Digital Twin tech to boost transformation
Source: IANS
2024-06-17 03:10:31 pm
Digital Competition Bill: Strengthen existing regulatory bodies like CCI, NCLAT, says Nasscom As India aims to adopt the Digital Competition Bill to curb anti-competitive practices of Big Tech companies and foster domestic innovation, IT industry's apex body Nasscom has said that it is also important to strengthen the existing regulatory framework before enacting one more legislation. In its comments submitted on the Report of the Committee on Digital Competition Law (CDCL) and draft Digital Competition Bill, 2024, the top industry body said that "clear correlation is need...
Digital Competition Bill: Strengthen existing regulatory bodies like CCI, NCLAT, says Nasscom
Digital Competition Bill: Strengthen existing regulatory bodies like CCI, NCLAT, says Nasscom
Source: IANS
2024-05-19 09:03:51 am
Homegrown GenAI platform Hanooman now live in 98 languages Abu Dhabi-based AI investment firm 3AI Holding Limited and SML India on Friday launched the generative artificial intelligence (GenAI) platform Hanooman in 98 global languages, including 12 Indian languages. Developed by SML and 3AI Holding under joint collaboration, Hanooman aims to reach 200 million users within its first year of launch. Hanooman is now available for download in the country and can be accessed through the web and mobile application for Android users on the Play Store....
Homegrown GenAI platform Hanooman now live in 98 languages
Homegrown GenAI platform Hanooman now live in 98 languages
Source: IANS
2024-05-10 02:13:29 pm
Finance Ministry hosts workshop on best AI practices for bank chiefs The Finance Ministry on Thursday held a workshop for CEOs and MDs of 12 public sector banks and other financial institutions to provide them with insights into the best practices for AI adoption and risk mitigation in the banking sector. Vivek Joshi, Secretary, Department of Financial Services (DFS), chaired the workshop on the 'State of Artificial Intelligence in Banks' as part of its lecture series. The IT industry association NASSCOM made a presentation to update the bankers ...
Finance Ministry hosts workshop on best AI practices for bank chiefs
Finance Ministry hosts workshop on best AI practices for bank chiefs
Source: IANS
2024-05-10 09:44:49 am
Indian startups file 83,000 patents in FY23; AI, neurotechnology lead Led by artificial intelligence (AI), Internet of Things (IoT) and neuro-technology, India witnessed 83,000 patents being filed by deep-tech startups in FY2023, marking an annual growth rate of 24.6 per cent which is highest since the last two decades, a Nasscom report showed on Friday. The number of patents granted also witnessed significant growth, rising over 2 times between FY2019-FY2023. This trend is expected to increase significantly with over 100K patents granted between March 15...
Indian startups file 83,000 patents in FY23; AI, neurotechnology lead
Indian startups file 83,000 patents in FY23; AI, neurotechnology lead
Source: IANS
2024-04-26 02:24:59 pm
Homegrown products built on DPI to propel India towards $5 trillion economy: Experts Homegrown solutions and products built on top of the digital public infrastructure (DPI) by young entrepreneurs will pave the path towards India becoming a $5 trillion economy, industry experts said on Sunday. With successful mass adoption and larger economic impact, DPIs are impacting approximately 1.3 billion citizens, covering 97 per cent of India's population. The matured DPIs enabled a value creation of $31.8 billion, equivalent to 0.9 per cent of India's GDP in 2022, accor...
Homegrown products built on DPI to propel India towards $5 trillion economy: Experts
Homegrown products built on DPI to propel India towards $5 trillion economy: Experts
Source: IANS
2024-03-31 03:38:39 pm
1,000 startups, 5,000 budding entrepreneurs at 3-day `Startup Mahakumbh`  Over 1,000 startups, more than 1,000 investors, 5,000 future entrepreneurs and 40,000 business visitors are set to participate in 'Startup Mahakumbh' being organised at Bharat Mandapam and India Trade Promotion Organisation (ITPO) in the Capital from March 18-20. More than 34 deep-tech startups would showcase their innovations at the Nasscom pavilion, which will focus on insightful discussions around deep tech innovations that are transforming India and shaping industry capab...
1,000 startups, 5,000 budding entrepreneurs at 3-day `Startup Mahakumbh`
1,000 startups, 5,000 budding entrepreneurs at 3-day `Startup Mahakumbh`
Source: IANS
2024-03-17 11:57:30 am
India announces $1.2 billion investment in AI projects India on Thursday approved a 103 billion rupee ($1.25 billion) investment in artificial intelligence projects, including to develop computing infrastructure and for the development of large language models, the government said. The money will also be used for funding AI startups, as well as developing AI applications for the public sector, the government said in a statement. India's artificial intelligence market is projected to touch $17 billion by 2027, growing at an annualised ra...
India announces $1.2 billion investment in AI projects
India announces $1.2 billion investment in AI projects
Source: Reuters
2024-03-08 10:37:14 am
Indian women capable of learning AI skills and play a far better role: Arundhati Bhattacharya As skilling becomes top priority for the government in creating a talent pool for new and emerging technologies like AI in India, women in the country need to be at the forefront of learning generative AI and play a key role in shaping up new industries, Arundhati Bhattacharya, CEO and Chairperson of Salesforce India, said on Friday. Speaking to IANS, Bhattacharya who served as former chairperson of the State Bank of India (SBI), said that her advice to women professionals is that they mus...
Indian women capable of learning AI skills and play a far better role: Arundhati Bhattacharya
Indian women capable of learning AI skills and play a far better role: Arundhati Bhattacharya
Source: IANS
2024-03-08 10:14:59 am
Government initiatives boosting digital ecosystem across startups: Simplilearn Government initiatives such as ‘Digital India’ and ‘Startup India’ are empowering different sectors of the digital ecosystem such as fintech and edtech in a very positive way, Simplilearn co-founder and COO, Kashyap Dalal, said on Saturday. According to him, there are wide areas of interventions that the government has undertaken in the last 5-7 years, which is a boost for several digital ecosystem sectors. "One is the entire fintech stack. We have unified p...
Government initiatives boosting digital ecosystem across startups: Simplilearn
Government initiatives boosting digital ecosystem across startups: Simplilearn
Source: IANS
2024-03-03 08:52:58 am
Digital public infrastructures contributes 0.9% to India`s GDP: Nasscom National Association of Software and Service Companies (NASSCOM) in its latest report has said that digital public infrastructures (DPIs) such as Aadhaar, UPI (Unified Payments Interface), and FASTag generated a value of $31.8 billion in 2022, contributing 0.9 per cent to India's GDP, and the contribution is projected to increase 2.9-4.2 per cent by 2030. It said Indian DPIs' foundational layers are based on transparency and trust, which promotes paperless transactions, reduces bureau...
Digital public infrastructures contributes 0.9% to India`s GDP: Nasscom
Digital public infrastructures contributes 0.9% to India`s GDP: Nasscom
Source: Accord Fintech
2024-02-22 02:02:54 pm
DPIs like UPI, Aadhaar to propel India towards $8 trillion economy by 2030  Digital Public Infrastructure (DPIs) like Unified Payments Interface (UPI) and Aadhaar are poised to propel India towards a $8 trillion economy by 2030, helping the country achieve a $1 trillion digital economy target, a Nasscom-led report said on Wednesday. With successful mass adoption and larger economic impact, DPIs are impacting approximately 1.3 billion citizens, covering 97 per cent of India's population. The matured DPIs enabled a value creation of $31.8 billion, equiv...
DPIs like UPI, Aadhaar to propel India towards $8 trillion economy by 2030
DPIs like UPI, Aadhaar to propel India towards $8 trillion economy by 2030
Source: IANS
2024-02-21 12:59:54 pm
Centre working on draft AI regulation framework, to be released soon The government on Tuesday said it is working on to unveil a draft regulatory framework for artificial intelligence (AI) by June-July this year, amid concerns over a rise in deepfakes and user harm associated with the new technology. Addressing a Nasscom event in the Capital, Minister of State for Electronics and IT, Rajeev Chandrasekhar, said the government is working on a draft AI regulation framework and will release it soon. “The aim is to harness AI for economic growth and add...
Centre working on draft AI regulation framework, to be released soon
Centre working on draft AI regulation framework, to be released soon
Source: IANS
2024-02-21 11:42:58 am
India`s AI market seen touching $17 billion by 2027, notes Nasscom-BCG report India’s artificial intelligence market is projected to touch $17 billion by 2027, growing at an annualised rate of 25-35% between 2024 and 2027, IT industry body Nasscom and consulting firm BCG said on Tuesday, citing a joint report studying AI-powered tech in the country. The growth is seen on the back of an increase in enterprise tech spending, the country’s expanding AI talent pool and a rise in AI investments, the two said in a statement ahead of the report's release on...
India`s AI market seen touching $17 billion by 2027, notes Nasscom-BCG report
India`s AI market seen touching $17 billion by 2027, notes Nasscom-BCG report
Source: Reuters
2024-02-21 09:00:58 am
India`s AI market to reach $17 bn by 2027, demand for talent to grow: Nasscom India’s artificial intelligence (AI) market is likely to grow at 25 per cent compound annual growth rate (CAGR) to reach $17 billion by 2027, with similar growth in AI investments, a Nasscom report said on Tuesday. India’s AI market is growing with AI/ML capabilities, including GenAI, emerging as the top category of IT spend expected to be made by IT buyers in 2023, according to the report by Nasscom in partnership with market research firm BCG. This growth is fueled by mult...
India`s AI market to reach $17 bn by 2027, demand for talent to grow: Nasscom
India`s AI market to reach $17 bn by 2027, demand for talent to grow: Nasscom
Source: IANS
2024-02-20 05:54:59 pm
Domestic technology industry`s revenue projected to grow 3.8% to $254 billion in FY24: Nasscom National Association of Software and Service Companies (NASSCOM) has said that the domestic technology industry's revenue is projected to grow 3.8 per cent to $254 billion this fiscal (FY24). Excluding hardware, the revenue is expected to touch $199 billion, a growth of 3.3 per cent over FY23. It stated the Engineering Research & Development (ER&D) sector alone contributed 48 per cent to the total export revenue addition in FY24. It stated the projected 3.8 per cent growth i...
Domestic technology industry`s revenue projected to grow 3.8% to $254 billion in FY24: Nasscom
Domestic technology industry`s revenue projected to grow 3.8% to $254 billion in FY24: Nasscom
Source: Accord Fintech
2024-02-19 10:17:03 am
Tech industry in India hits $254 bn in revenue in FY24, adds 60K employees The technology industry in India reached $253.9 billion in revenue with an addition of $9.3 billion incremental revenue in FY2024 (estimated), growing at 3.8 per cent from FY23, a Nasscom report said on Friday. The technology industry added 60,000 net employees in FY2024 (estimated), with a total headcount of 5.43 million. However, the focus on digital skills continued to remain strong with AI, Cloud, data and cybersecurity emerging as top in-demand skills for the industry, the report n...
Tech industry in India hits $254 bn in revenue in FY24, adds 60K employees
Tech industry in India hits $254 bn in revenue in FY24, adds 60K employees
Source: IANS
2024-02-16 05:09:49 pm
We need short-term courses to skill 100 mn people in fundamentals of AI: CP Gurnani  As India rides on the generative AI (GenAI) bandwagon which will touch every aspect of the IT and tech industry, the country needs to focus on creating short-term courses in fundamental of AI to skill 100 million people and prepare them for the jobs of the future, Indian IT industry veteran CP Gurnani said on Saturday. According to Nasscom, as India currently ranks first in terms of AI skill penetration and AI talent concentration, the AI skill shortage is now being felt across the s...
We need short-term courses to skill 100 mn people in fundamentals of AI: CP Gurnani
We need short-term courses to skill 100 mn people in fundamentals of AI: CP Gurnani
Source: IANS
2024-01-07 11:35:01 am
India signs IPEF pact to strengthen Indo-Pacific supply chain resilience India, the US and 12 other IPEF partner countries have signed the first Supply Chain Resilience Agreement aimed at strengthening global supply chains. The agreement was signed by Commerce and Industry Ministry Piyush Goyal on India’s behalf at the IPEF meeting in San Francisco.  "India joins U.S. and 12 other IPEF partners to ink the IPEF Supply Chain Resilience Agreement, a first-of-its-kind international agreement that will fortify and strengthen global supply chains; ...
India signs IPEF pact to strengthen Indo-Pacific supply chain resilience
India signs IPEF pact to strengthen Indo-Pacific supply chain resilience
Source: IANS
2023-11-15 01:48:06 pm
Nasscom selects 26 Indian startups to unlock generative AI potential To empower domestic tech startups in the artificial intelligence (AI) domain, IT industry?s apex body Nasscom on Thursday announced the selection of 26 startups for its inaugural ?Generative AI Foundry? programme.The 12-month programme, partnered with more than 30 organisations from industry and the investor community, will see select partners investing up to $25 million in the most promising startups.Moreover, investors will extend support in various forms, catalysing growth and innovation, ...
Nasscom selects 26 Indian startups to unlock generative AI potential
Nasscom selects 26 Indian startups to unlock generative AI potential
Source: IANS
2023-10-20 09:39:18 am
Nasscom appoints SAP executive Sindhu Gangadharan as Vice Chairperson  IT industry's apex body Nasscom on Tuesday announced the appointment of Sindhu Gangadharan, SVP and MD, SAP Labs India and Head, SAP User Enablement, as Vice Chairperson.In her new role, she will leverage her extensive experience in technology and corporate leadership gained over decades in both India and Germany to help shape India's TechAde.As the first woman to lead SAP Labs India, SAP's largest R&D centre globally, Gangadharan was responsible for overseeing the product developme...
Nasscom appoints SAP executive Sindhu Gangadharan as Vice Chairperson
Nasscom appoints SAP executive Sindhu Gangadharan as Vice Chairperson
Source: IANS
2023-09-12 03:02:55pm