Spending on Artificial Intelligence technologies will grow at 2.2x the rate of overall digital technology spending in the next three years, generating an India economic impact of over USD 115 billion by the end of 2027, according to a latest report by International Data Corporation (IDC).
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Union finance minister Nirmala Sitharaman announced the introduction of a Rs 2 crore term loan scheme for five lakh first-time women, SC, and ST entrepreneurs during the Union Budget for 2025-26. Additionally, a manufacturing mission will be established for various industries, and a national institute for food technology will be set up in Bihar.
The 2020 tax deferment policy for ESOPs aims to address immediate tax liabilities and financial strain on startups. Despite its potential, applicability is limited to only 3,605 IMB-certified startups. NASSCOM recommends expanding eligibility to all DPIIT-recognized startups to attract talent and reduce employee attrition.
Telecom operators Reliance Jio and Bharti Airtel have launched new voice and SMS-only plans for prepaid users in India following TRAI's revised tariff rules.
HCLTech CEO C Vijayakumar highlights that while the demand for skilled IT professionals and higher billing rates will continue, revenue growth might outpace headcount additions. The company reduced its fresher recruitment target, stressing the importance of embracing generative AI for incremental value.
Oil prices declined following President Trump's statement about convincing Saudi Arabia and OPEC to reduce crude costs. WTI futures dropped below $75 and Brent below $79. The OPEC and its allies aim to support prices by limiting output with potential plans to gradually revive production starting in April.
The rupee depreciated by 2.8% against the US dollar in 2024, marking its seventh consecutive year of decline. Contributing factors included RBI's forex intervention strategy, a strong US dollar, and capital outflows due to a shift in investor focus from India to China. Structural issues like inflation differentials and current account deficits also played a role.
Vishal Mega Mart is launching an Rs 8,000 crore IPO via offer for sale from December 11-13. Priced at Rs 74-78 per share, the IPO values the company at Rs 35,168 crore. A strong grey market premium of Rs 24 suggests a positive listing.
Railway Budget 2025: Indian Railways is likely to receive a 15-20% increase in capital expenditure for FY26, with a focus on track expansion, modernisation, and essential equipment procurement. Priorities include upgraded stations, modern trains, and reducing congestion.
HDFC Bank reports a standalone net profit of Rs 16,735 crore for the quarter ended Dec 2024, up 2.2% from the previous year, despite a slight decline from the preceding quarter. Margins remain stable, and asset quality is robust. The bank accrues significant loan sales and maintains substantial growth capital.