Speaking at the Nasscom US CEO Forum in New York, industry leaders said AI is creating fresh growth opportunities for technology services rather than replacing traditional IT work. India’s technology services industry is already generating an estimated $10-12 billion in revenue from artificial intelligence (AI) services, with nearly a quarter of companies moving AI projects…
Bessent said tariff rates could revert to their earlier levels if the ongoing Section 301 investigations lead to the imposition of new duties. (AI image) US Treasury Secretary Scott Bessent’s latest warning of additional tariffs under Section 301 comes at a time when US Trade Representative Jamieson Greer was in India this week.Greer met Commerce…
Micron Technology’s market value surged past that of Meta Platforms and ahead of Tesla on Thursday, as investors responded positively to the company’s latest outlook and growing exposure to the artificial intelligence sector. The memory chipmaker’s shares skyrocketed 18.4% to $1,236, lifting its market capitalisation to $1.398 trillion, placing it aboveMeta, which was valued at…
If there is one consistent feature of India-US trade relations over the past three decades, it is that major agreements rarely emerge from a single round of negotiations. (AI image) By Shishir Priyadarshi, President, Chintan Research Foundation (CRF) & a former Director, WTOThe trade discussions between US Trade Representative Jamieson Greer and Commerce Minister Piyush…
Market participants said the tax relief has also strengthened expectations that Indian government bonds could find a place in Bloomberg’s Global Aggregate Index. (AI image) The government and RBI’s steps to attract capital inflows seems to be yielding results with foreign investors pouring in a record Rs 39,640 crore, or around $4.2 billion, in Indian…
NEW DELHI: Indian basket crude prices returned to pre-conflict levels Wednesday, with the basket priced at $70.71 per barrel, reducing the import bill, easing inflationary pressures and improving the financial position of the Centre and oil marketing companies. The Indian basket of crude oil is a derived basket comprising the sweet grade of Brent Dated…
Mumbai: RBI has proposed sweeping changes to deepen debt markets, allowing corporate bodies to lend in the term money segment – long dominated by banks and primary dealers – while widening their access to govt securities market. It has also introduced total return swaps in credit derivatives, which transfer a bond’s entire return to the…
NEW DELHI: The US has assured India that access to critical artificial intelligence technologies will not become a challenge for trusted partners, IT secretary S Krishnan said on Thursday after discussions with US officials on the future of AI collaboration.The discussions come weeks after the US commerce department directed AI firm Anthropic to restrict foreign…
Fourteen years after a takeover that critics dismissed as a costly gamble, SK Hynix has emerged as the biggest beneficiary of the artificial intelligence boom, overtaking Samsung Electronics to briefly become South Korea’s most valuable listed company, according to a Reuters report.The turnaround was driven by an early bet on high-bandwidth memory (HBM) chips, a…
Banks will remain closed in several parts of the country on Friday, June 26, on account of Muharram (Yaom-e-Shahadath), Last Day of Moharam and Ashoora. However, bank branches will continue to operate in some cities, according to the Reserve Bank of India’s (RBI) holiday calendar.Banks will remain open on June 26 in these citiesBank branches…