Emma Bubola Artificial intelligence’s (AI) integration into everyday life has stirred up doubts and unsettling questions for many about humanity’s path forward. But in Anguilla, a tiny Caribbean island to the east of Puerto Rico, the AI boom has made the country a fortune. The British territory collects a fee… Continue reading The AI boom makes millions for an unlikely industry player: Anguilla | World News
Tag: industry
IT industry opposes Karnataka IT Union’s call to end relief in labour rules | News
The information technology (IT) industry seems to disagree with the Karnataka IT Union’s (KITU’s) demand that the state government revoke the exemption given to the IT/ITeS sector from the Industrial Employment (Standing Orders) Act, 1946. According to the Act, industrial establishments with 50 or more workers are required to define and communicate to employees… Continue reading IT industry opposes Karnataka IT Union’s call to end relief in labour rules | News
Domestic auto component industry reports highest turnover in FY23
The domestic auto component industry expects to log in double-digit sales growth in the current fiscal after having reported its highest-ever turnover in 2022-23, as demand is expected to remain robust. As per the Automotive Component Manufacturers Association (ACMA), the sector reported a turnover of Rs 5.6 lakh crore last fiscal, registering a… Continue reading Domestic auto component industry reports highest turnover in FY23
Banning imports of used equipment to help medical industry reach $50 bn
Steps such as raising customs duty on certain items, banning import of used or old equipment, and introduction of performance linked incentive scheme for value-added production will help India’s medical devices industry touch $ 50 billion by 2030, a report by think tank GTRI said. Suggesting six action points for the government and… Continue reading Banning imports of used equipment to help medical industry reach $50 bn
Five-day work week in banks soon as industry demand gets nod from IBA
In a meeting held last month, the Indian Banking Association (IBA) gave its nod to the industry’s demand for five days of banking, The Hindu BusinessLine (BL) reported on Monday, citing sources. The proposal has now been sent to the finance ministry for its final approval. “The matter has now been escalated to the… Continue reading Five-day work week in banks soon as industry demand gets nod from IBA
How the car industry got computer as its wheels
A car is increasingly becoming like a cell phone. After a consumer buys a phone, the hardware does not change but the software keeps updating and improving. Passenger cars and other vehicles are now following the same model, especially for electric and hybrid versions. Various software that run different systems of a car… Continue reading How the car industry got computer as its wheels
Govt to back industry in developing cutting-edge systems: Chandrasekhar
The Government is fully committed and ready to back the industry in developing cutting-edge competitive systems, Minister of State for electronics and information technology Rajeev Chandrasekar said on Sunday. India has an exciting opportunity and to make that opportunity fruitful, it should focus on developing commercially and globally competitive technology, he said at… Continue reading Govt to back industry in developing cutting-edge systems: Chandrasekhar
Construction, equipment manufacturers seek PLI scheme for industry
Construction and equipment (CE) manufacturers have urged the government for a production linked incentive (PLI) scheme for the sector. The introduction of the PLI scheme will provide a level-playing field for the players of the industry, Dimitrov Krishnan, President of industry body ICEMA, said. Indian Construction Equipment Manufacturers’ Association (ICEMA) engages with… Continue reading Construction, equipment manufacturers seek PLI scheme for industry
Govt committed to addressing concerns of stainless steel industry: Minister
The central government is committed to addressing concerns of the stainless steel industry, Union Minister of State for Steel Faggan Singh Kulaste said on Thursday. The stainless steel industry has urged the government to address issues surrounding the export-import regulations to boost the sector’s growth. “The central government is committed to looking… Continue reading Govt committed to addressing concerns of stainless steel industry: Minister
Data Bill brings industry reasons to cheer, privacy experts flag issues
The Digital Personal Data Protection Bill 2023, introduced in the Lok Sabha on Thursday, has abolished data localisation mandates and criminal penalties for data breaches while incorporating voluntary undertakings, as requested by industry stakeholders. Nevertheless, experts have raised concerns over increased governmental control and exceptions. The government obtained 21,666 suggestions from industry stakeholders… Continue reading Data Bill brings industry reasons to cheer, privacy experts flag issues