Foxconn, the world's largest electronics contract manufacturer, unveiled its latest game-changing move in India. A staggering $1.5 billion investment is set to reshape India's technological future. This massive financial injection is part of Foxconn's aggressive expansion plan, positioning India as a key player in its global manufacturing network.

Foxconn's $1.5 billion infusion sparks tech boom in India

Indian media reports that leading EV maker Tesla is ready to invest up to $2 billion to set up a factory in India. But there's a small catch -- the factory is likely to come up only if the government cuts import duty on its vehicles to 15% for the first two years of operations.

Report: EV maker ready to invest up to $2 bn to set up a factory

Softbank's financial report takes a hit as the company records a $5.2 billion loss for the quarter, marking its fourth consecutive period in the red. WeWork's bankruptcy is a significant contributor to this setback.

WeWork's collapse drains Softbank

What should be your strategy for managing your investments, which are the stocks to ditch, and which to keep? Feroze Azeez, Deputy CEO, Anand Rathi Wealth decode on The India Story

Which are the stocks to ditch and which to keep, Feroze Azeez, Deputy CEO, Anand Rathi Wealth decode

Stocks, SIPs, real estate or gold where should you invest this Diwali to gain maximum benefits? Know from the market veteran, Dhirendra Kumar, CEO, Value Research.

Stocks, SIPs, real estate or gold where should you invest this Diwali?

Will you benefit from investing in real estate this Diwali? Watch what Niranjan Hiranandani, Co-founder, and MD, of Hiranandani Group has to say.

Will you benefit from investing in real estate this Diwali?

Vijay Bhambwani, Founder and Promoter, Bhambwani Securities tells you why investments in gold will shine for you this Diwali season.

Why investments in gold will shine for you this Diwali?

Google has vowed to invest $2 billion in Anthropic, a business that specializes in artificial intelligence, strengthening its partnership with the startup and fueling the AI craze in Silicon Valley.

Google invests $2 billion in AI startup

OPEC + leaders emphasise investment for stable energy transition | WION

OPEC + leaders emphasise investment for stable energy transition

Turkey takes center stage on the global economic front as finance minister Mehmet Simsek embarks on a mission to drum up support for his bold rescue plan. His primary objective at the G20 is garnering support for his comprehensive rescue plan aimed at revitalising Turkey’s struggling emerging economy. Foreign investors have been retreating from the Turkish market, holding less than 1% of the country's bonds, down from approximately 20% in 2015.

Turkey’s investment roadshow at G20 summit

Nigeria on Wednesday said it received investment pledges worth $14 billion from Indian investors and is seeking to sign an economic cooperation agreement with the South Asian country.

The Nigerian government said that India’s Jindal Steel and Power has agreed to invest $3 billion in Nigeria’s steel industry and Indorama Corp. will invest an extra $8 billion to expand its petrochemical facilities there.

Jitender Sachdeva, the founder chairman of Skipperseil Ltd., and Bharti Enterprises have offered $1.6 billion over four years to construct power plants and $700 million in Nigeria, respectively, according to the government.

Separately, Nigeria authorised a $1 billion collaboration agreement with the Indian government to support the Nigerian Defence Industries Corporation in achieving 40 per cent local manufacturing and production self-sufficiency in defence equipment manufacture within three years, according to Ngelale.

President&nbsp;Bola Tinubu met with Indian business representatives as part of the Nigeria-India presidential roundtable and conference to mobilise international funding for infrastructure development. He will attend the G20 summit in New Delhi later this week as a guest country.

India, which presently holds the rotating presidency of the group, invited Tinubu to attend.

“We are ready to give you the best returns for investment possible, there’s nowhere else like our country,” Tinubu said in the statement.

Instead of relying on borrowing, the government of Africa’s top oil producer aims to promote investments in order to finance the creation of jobs and the construction of urgently needed infrastructure, such as railways, roads, and power plants.

With his largest reforms in decades, Tinubu has done away with a well-liked but expensive petrol subsidy and lifted restrictions on foreign exchange trading. With record debt, sluggish growth, unemployment, and double-digit inflation, he has vowed to revitalise the economy.

Nigeria, the most populous country in Africa, is considering to join the G20 as the second member of the continent after South Africa and is seeking advice on the advantages and disadvantages of doing so.

(With inputs from Reuters)

&nbsp;

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Nigeria on Wednesday said it received investment pledges worth $14 billion from Indian investors and is seeking to sign an economic cooperation agreement with the South Asian country.

Nigeria on Wednesday said it received investment pledges worth $14 billion from Indian investors and is seeking to sign an economic cooperation agreement with the South Asian country. The Nigerian government said that India’s Jindal Steel and Power has agreed to invest $3 billion in Nigeria’s steel industry and Indorama Corp. will invest an extra $8 billion to expand its petrochemical facilities there. Jitender Sachdeva, the founder chairman of Skipperseil Ltd., and Bharti Enterprises have offered $1.6 billion over four years to construct power plants and $700 million in Nigeria, respectively, according to the government. Separately, Nigeria authorised a $1 billion collaboration agreement with the Indian government to support the Nigerian Defence Industries Corporation in achieving 40 per cent local manufacturing and production self-sufficiency in defence equipment manufacture within three years, according to Ngelale. President Bola Tinubu met with Indian business representatives as part of the Nigeria-India presidential roundtable and conference to mobilise international funding for infrastructure development. He will attend the G20 summit in New Delhi later this week as a guest country. India, which presently holds the rotating presidency of the group, invited Tinubu to attend. “We are ready to give you the best returns for investment possible, there’s nowhere else like our country,” Tinubu said in the statement. Instead of relying on borrowing, the government of Africa’s top oil producer aims to promote investments in order to finance the creation of jobs and the construction of urgently needed infrastructure, such as railways, roads, and power plants. With his largest reforms in decades, Tinubu has done away with a well-liked but expensive petrol subsidy and lifted restrictions on foreign exchange trading. With record debt, sluggish growth, unemployment, and double-digit inflation, he has vowed to revitalise the economy. Nigeria, the most populous country in Africa, is considering to join the G20 as the second member of the continent after South Africa and is seeking advice on the advantages and disadvantages of doing so. (With inputs from Reuters) WATCH WION LIVE HERE

Indian firms to invest $14 billion in Nigeria: Report  

India's outreach to Africa has hit yet another milestone. Nigeria has secured pledges worth 14 billion dollars from Indian investors. The West African nation is also seeking an economic cooperation pact with India.

Nigeria secures pledges worth $14 billion from investors

With the aim of bolstering Pakistan’s economic prospects, Saudi Arabia has announced an investment of 25 billion dollars. This substantial influx of capital is slated to unfold over the next two to five years and will target key sectors, including mining, agriculture, and information technology.

Saudi Arabia’s $25 bn lifeline for Pakistan

India’s transition to a net-zero economy by 2050 presents an investment opportunity that is estimated to be worth at least $12.7 trillion, according to the New Energy Outlook: India report, released by research firm BloombergNEF on Thursday.

The two energy system futures for India are explained in the report, along with the opportunities and difficulties the nation will face during its transition.

The base case, Economic Transition Scenario (ETS), assumes a rise in global temperature of 2.6 degrees Celsius by 2050, and describes a shift driven by economics. In this scenario, India may make great strides towards energy independence and decarbonisation, but neither objectives could be accomplished by 2050.

The second scenario, known as the Net Zero Scenario (NZS), calls for increased public assistance and private sector investment. It is in line with achieving net-zero emissions without relying on emerging technologies by 2050. It enables India to achieve energy independence by the middle of the century at the lowest cost.

Moving towards the power sector de-carbonisation &nbsp;

According to the report, between 2018 and 2022, India added 53 gigawatts of solar and wind energy. However, coal still dominates the overall power generation capacity, with solar and wind making up less than a fourth of it.&nbsp;

India’s greatest source of emissions continues to come from energy generation via coal.

The study says that increasing the use of solar and wind energy while supplementing it with nuclear, energy storage, and carbon capture and storage (CCS) for thermal power plants is the most affordable method for India to increase access to electricity while decarbonising its energy supply.

In India, new wind and solar power facilities have already produced electricity at a lower cost than new thermal power plants. By the middle of the 2030s, the cost of producing electricity from new solar and wind power plants will be lower than the cost of maintaining coal-fired power facilities.

The total installed wind and solar power capacity in the NZS increases approximately 30 times, from 99 gigawatts in 2021 to 2,998 gigawatts by 2050. In 2050, nuclear power is projected to contribute 9 per cent of the country’s electricity, with wind and solar power generation making up the remaining 80 per cent. Hydro, biomass, hydrogen-fired thermal plants, and thermal power plants with CCS make up the difference.&nbsp;

Solar and wind are to become a major source of electricity supply, accounting for 67 per cent of electricity generated in 2050, even under the ETS, BNEF’s baseline scenario.

Investment opportunities &nbsp;

The report notes that a $7.6 trillion investment in energy supply and consumption will be made under the ETS between 2022 and 2050. According to the NZS, investment levels must be 1.7 times greater to stay on track for net zero, amounting to an average of $438 billion annually and a total of $12.7 trillion by 2050.

Moreover, India needs to reduce its&nbsp;total investment in fossil-fuel generation --&nbsp;from $317 billion in the ETS to $142 billion in the NZS. India also needs to invest $870 billion in carbon capture and storage to reduce emissions under the NZS.&nbsp;

Sales of electric vehicles represent the largest portion of energy demand investments in both cases. In the NZS, EV deployment costs $3.9 trillion.

“By accelerating deployment of mature clean technologies such as solar, wind and electric vehicles, India could create more domestic economic opportunities while reducing emissions and strengthening its energy security,” the report quotes Shantanu Jaiswal, Head of Research at BNEF as saying.

Tackling industrial emissions with hydrogen and CCS&nbsp;

By the early 2040s, industrial CO2 emissions in India are predicted to surpass those from the electricity sector under the ETS, attributed to the expansion of the steel, aluminium, petrochemical, and cement industries. The largest emitting industrial subsector in India, steel, will virtually quadruple its emissions from 351 to 948 million metric tonnes (Mt) of carbon dioxide between 2021 and 2050.

A similar rise is shown in the amount of coal used in steel production, which increases to 399 million metric tonnes by the middle of the century. By 2050 compared to 2021, the cement industry will need five times as much coal, or 83Mt. Thus, emissions from the cement industry increase five times, reaching 289 Mt by the middle of the century.

Decarbonising the industrial sector and removing such emissions will depend heavily on green hydrogen and CCS. According to the NZS, between 2022 and 2050, the use of clean hydrogen in the production of steel can prevent 54 per cent of the total emissions. Similarly, 56 per cent of the total emissions associated with cement manufacturing can be reduced by CCS.

According to the NZS, India’s industrial sector emissions reach their peak in 2031 and start to decrease sharply in the mid-2030s as more hydrogen and carbon capture technology is used to decarbonise the production of steel, cement, and petrochemicals.&nbsp;

By 2050, there will be a roughly tenfold rise in domestic hydrogen demand, reaching 53Mt. The steel industry’s adoption of hydrogen-fired direct-reduction furnaces will be the primary driver of the new demand for hydrogen, which will reach 33Mt in 2050.&nbsp;

The majority of the hydrogen produced in India today comes from unrestricted fossil fuels. Under the NZS, the predominant pathway in India by 2050 is hydrogen produced using electrolysers driven by renewable sources.

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India’s transition to a net-zero economy by 2050 presents an investment opportunity that is estimated to be worth at least $12.7 trillion, according to the New Energy Outlook: India report, released by research firm BloombergNEF on Thursday.

India’s transition to a net-zero economy by 2050 presents an investment opportunity that is estimated to be worth at least $12.7 trillion, according to the New Energy Outlook: India report, released by research firm BloombergNEF on Thursday. The two energy system futures for India are explained in the report, along with the opportunities and difficulties the nation will face during its transition. The base case, Economic Transition Scenario (ETS), assumes a rise in global temperature of 2.6 degrees Celsius by 2050, and describes a shift driven by economics. In this scenario, India may make great strides towards energy independence and decarbonisation, but neither objectives could be accomplished by 2050. The second scenario, known as the Net Zero Scenario (NZS), calls for increased public assistance and private sector investment. It is in line with achieving net-zero emissions without relying on emerging technologies by 2050. It enables India to achieve energy independence by the middle of the century at the lowest cost. Moving towards the power sector de-carbonisation According to the report, between 2018 and 2022, India added 53 gigawatts of solar and wind energy. However, coal still dominates the overall power generation capacity, with solar and wind making up less than a fourth of it. India’s greatest source of emissions continues to come from energy generation via coal. The study says that increasing the use of solar and wind energy while supplementing it with nuclear, energy storage, and carbon capture and storage (CCS) for thermal power plants is the most affordable method for India to increase access to electricity while decarbonising its energy supply. In India, new wind and solar power facilities have already produced electricity at a lower cost than new thermal power plants. By the middle of the 2030s, the cost of producing electricity from new solar and wind power plants will be lower than the cost of maintaining coal-fired power facilities. The total installed wind and solar power capacity in the NZS increases approximately 30 times, from 99 gigawatts in 2021 to 2,998 gigawatts by 2050. In 2050, nuclear power is projected to contribute 9 per cent of the country’s electricity, with wind and solar power generation making up the remaining 80 per cent. Hydro, biomass, hydrogen-fired thermal plants, and thermal power plants with CCS make up the difference. Solar and wind are to become a major source of electricity supply, accounting for 67 per cent of electricity generated in 2050, even under the ETS, BNEF’s baseline scenario. Investment opportunities The report notes that a $7.6 trillion investment in energy supply and consumption will be made under the ETS between 2022 and 2050. According to the NZS, investment levels must be 1.7 times greater to stay on track for net zero, amounting to an average of $438 billion annually and a total of $12.7 trillion by 2050. Moreover, India needs to reduce its total investment in fossil-fuel generation -- from $317 billion in the ETS to $142 billion in the NZS. India also needs to invest $870 billion in carbon capture and storage to reduce emissions under the NZS. Sales of electric vehicles represent the largest portion of energy demand investments in both cases. In the NZS, EV deployment costs $3.9 trillion. “By accelerating deployment of mature clean technologies such as solar, wind and electric vehicles, India could create more domestic economic opportunities while reducing emissions and strengthening its energy security,” the report quotes Shantanu Jaiswal, Head of Research at BNEF as saying. Tackling industrial emissions with hydrogen and CCS By the early 2040s, industrial CO2 emissions in India are predicted to surpass those from the electricity sector under the ETS, attributed to the expansion of the steel, aluminium, petrochemical, and cement industries. The largest emitting industrial subsector in India, steel, will virtually quadruple its emissions from 351 to 948 million metric tonnes (Mt) of carbon dioxide between 2021 and 2050. A similar rise is shown in the amount of coal used in steel production, which increases to 399 million metric tonnes by the middle of the century. By 2050 compared to 2021, the cement industry will need five times as much coal, or 83Mt. Thus, emissions from the cement industry increase five times, reaching 289 Mt by the middle of the century. Decarbonising the industrial sector and removing such emissions will depend heavily on green hydrogen and CCS. According to the NZS, between 2022 and 2050, the use of clean hydrogen in the production of steel can prevent 54 per cent of the total emissions. Similarly, 56 per cent of the total emissions associated with cement manufacturing can be reduced by CCS. According to the NZS, India’s industrial sector emissions reach their peak in 2031 and start to decrease sharply in the mid-2030s as more hydrogen and carbon capture technology is used to decarbonise the production of steel, cement, and petrochemicals. By 2050, there will be a roughly tenfold rise in domestic hydrogen demand, reaching 53Mt. The steel industry’s adoption of hydrogen-fired direct-reduction furnaces will be the primary driver of the new demand for hydrogen, which will reach 33Mt in 2050. The majority of the hydrogen produced in India today comes from unrestricted fossil fuels. Under the NZS, the predominant pathway in India by 2050 is hydrogen produced using electrolysers driven by renewable sources. WATCH WION LIVE HERE

India’s push towards a net-zero economy could attract investments worth $12.7 tn: Report

Indian tycoon Mukesh Ambani-owned Reliance Retail&nbsp;will get a $1 billion investment from Qatar’s sovereign wealth fund, valued at $100 billion, a report published in&nbsp;Financial Times said.

This is significant as it indicates Gulf investors’ growing exposure to India’s rapidly expanding economy.&nbsp;

The Reliance Industries subsidiary said on Wednesday that the $450 billion Qatar Investment Authority would acquire a 0.99 percent share in Reliance Retail Ventures Limited.

“QIA is committed to supporting innovative companies with high growth potential in India’s fast growing retail market,” Financial Times quoted QIA chief executive Mansoor Ebrahim al-Mahmoud as saying in a statement.

He also mentioned that&nbsp;Reliance&nbsp;Retail has joined the fund’s “growing and diverse portfolio of investments in India.”

The gas-rich Gulf state's sovereign wealth fund, which has also invested in Indian start-ups like online restaurant operator Rebel Foods and delivery group Swiggy, will be making one of its biggest bets on Indian retail with this investment. Qatar was reportedly exploring the investment last month, according to the Financial Times.

The sale comes after a string of other transactions by the QIA in India. According to market records, a fully owned subsidiary of the fund invested $474 million this month on a nearly 3 per cent investment in Gautam Adani’s renewable energy company Adani Green Energy.

About the Qatar Investment Authority &nbsp;

The Qatar Investment Authority (QIA) was established in 2005 with the goal of boosting the nation’s economy through asset diversification. Building on a more than 30-year history of investments, Qatar’s expanding portfolio of long-term strategic investments serves as a complement to the state’s natural resource wealth. The QIA, which has its main office in Doha, is set up to function at the highest levels of international investing. The QIA upholds the strongest financial and commercial requirements as a world-class investor.

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Indian tycoon Mukesh Ambani-owned Reliance Retail will get a $1 billion investment from Qatar’s sovereign wealth fund, valued at $100 billion, a report published in Financial Times said.

Indian tycoon Mukesh Ambani-owned Reliance Retail will get a $1 billion investment from Qatar’s sovereign wealth fund, valued at $100 billion, a report published in Financial Times said. This is significant as it indicates Gulf investors’ growing exposure to India’s rapidly expanding economy. The Reliance Industries subsidiary said on Wednesday that the $450 billion Qatar Investment Authority would acquire a 0.99 percent share in Reliance Retail Ventures Limited. “QIA is committed to supporting innovative companies with high growth potential in India’s fast growing retail market,” Financial Times quoted QIA chief executive Mansoor Ebrahim al-Mahmoud as saying in a statement. He also mentioned that Reliance Retail has joined the fund’s “growing and diverse portfolio of investments in India.” The gas-rich Gulf state's sovereign wealth fund, which has also invested in Indian start-ups like online restaurant operator Rebel Foods and delivery group Swiggy, will be making one of its biggest bets on Indian retail with this investment. Qatar was reportedly exploring the investment last month, according to the Financial Times. The sale comes after a string of other transactions by the QIA in India. According to market records, a fully owned subsidiary of the fund invested $474 million this month on a nearly 3 per cent investment in Gautam Adani’s renewable energy company Adani Green Energy. About the Qatar Investment Authority The Qatar Investment Authority (QIA) was established in 2005 with the goal of boosting the nation’s economy through asset diversification. Building on a more than 30-year history of investments, Qatar’s expanding portfolio of long-term strategic investments serves as a complement to the state’s natural resource wealth. The QIA, which has its main office in Doha, is set up to function at the highest levels of international investing. The QIA upholds the strongest financial and commercial requirements as a world-class investor. WATCH WION LIVE HERE

Qatar sovereign wealth fund to invest $1 billion in India’s Reliance retail

The Southern Indian state of Tamil Nadu, which is the 2nd largest economy and the top electronic goods exporter in India, will be hosting a Global Investors Meet in January 2024. According to the Tamil Nadu Government, the state has the largest number of factories and the largest workforce in India. To be held on the 7th and 8th of January, the Tamil Nadu Global Investors Meet 2024, is aimed at attracting high-tech industries, and investment in sectors that will generate large-scale employment opportunities.&nbsp;

"Since coming to power(in mid-2021), the Government has secured 241 investment projects valued at Rs.2.97lakh crore or USD$37bn and secured 415,000 employment opportunities" Chief Minister MK Stalin said. To consolidate its position and to attract further investments from global companies, the State Government is organising this Investors Meet, he added.

The global investors meet is expected to bring together industrialists, Micro Small and Medium Industries trade bodies, agriculturists, weavers and artisans from all districts of the state, the Government said. The core theme of the meet would be 'Towards a Resilient Economy, Sustainable Development, and Inclusive Growth'.&nbsp;

Chief Minister MK Stalin launched the logo of the event. A modified depiction of the Tamil alphabet(pronounced as 'Tha'), the logo signifies the language and the people of Tamil Nadu, and the progress towards growth and industrialisation.&nbsp;

Already well established as the 'Detroit of India' for its Automobile manufacturing sector and exports, Tamil Nadu also has been in the limelight for being among the states where contract manufacturers assemble Apple iPhones and other smartphones from leading brands. The state government recently announced that it had secured an investment of Rs.1600cr or USD200mn from Taiwanese firm Foxconn, for a new facility to assemble mobile phone components.&nbsp;

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The Southern Indian state of Tamil Nadu, which is the 2nd largest economy and the top electronic goods exporter in India, will be hosting a Global Investors Meet in January 2024.

The Southern Indian state of Tamil Nadu, which is the 2nd largest economy and the top electronic goods exporter in India, will be hosting a Global Investors Meet in January 2024. According to the Tamil Nadu Government, the state has the largest number of factories and the largest workforce in India. To be held on the 7th and 8th of January, the Tamil Nadu Global Investors Meet 2024, is aimed at attracting high-tech industries, and investment in sectors that will generate large-scale employment opportunities. "Since coming to power(in mid-2021), the Government has secured 241 investment projects valued at Rs.2.97lakh crore or USD$37bn and secured 415,000 employment opportunities" Chief Minister MK Stalin said. To consolidate its position and to attract further investments from global companies, the State Government is organising this Investors Meet, he added. The global investors meet is expected to bring together industrialists, Micro Small and Medium Industries trade bodies, agriculturists, weavers and artisans from all districts of the state, the Government said. The core theme of the meet would be 'Towards a Resilient Economy, Sustainable Development, and Inclusive Growth'. Chief Minister MK Stalin launched the logo of the event. A modified depiction of the Tamil alphabet(pronounced as 'Tha'), the logo signifies the language and the people of Tamil Nadu, and the progress towards growth and industrialisation. Already well established as the 'Detroit of India' for its Automobile manufacturing sector and exports, Tamil Nadu also has been in the limelight for being among the states where contract manufacturers assemble Apple iPhones and other smartphones from leading brands. The state government recently announced that it had secured an investment of Rs.1600cr or USD200mn from Taiwanese firm Foxconn, for a new facility to assemble mobile phone components. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Secured $37bn investment, 400K jobs in 2 yrs; Global Investors Meet in Jan 2024: TN govt

The challenging world of real estate is sending ripples through one of the biggest financial institutions. Goldman Sachs, not immune to the current market turmoil, has faced a staggering 1.15 billion dollar hit in the second quarter due to its real estate investments. The market volatility and shifting demands have proven to be a formidable challenge for the institution, prompting a comprehensive review of its portfolio.

Real estate woes hit Goldman Sachs

Top energy producers are increasingly looking at gas as a transition fuel to help the world meet its net-zero targets. But a recent industry conference has revealed an uncomfortable truth -- the energy industry's investment in gas infrastructure is falling short.

Tokyo meeting highlights need for more investments into gas

With the world leaning towards measures to reverse climate change, the latest report by the international energy agency, says global investments in clean energy are now 70 per cent higher in comparison to fossil fuels. This comes amid a hike in fossil fuel prices and energy giants' move to look for more fossil fuel deposits.

Rise in investment in clean & green energy sector

Major accounting firms are increasing their investments in new facilities in smaller Indian cities as the demand for cheaper back-office operations rises, and these towns move up the economic value chain. Traditionally, multinational corporations have established operational centers in India's largest metropolises, such as Mumbai, Delhi, and Bengaluru, due to the availability of a large, low-cost talent pool, especially in the field of information technology. However, the sector has experienced a slowdown in global demand for software and encountered challenges in big urban centers, including rising costs, high attrition rates, and difficulties in getting workers back to the office after the pandemic.

According to a report by Ernst &amp; Young cited by Reuters, multinationals are now expected to establish 'global capability centers' in tier-2 cities like Jaipur, Vadodara, Kochi, and Chandigarh. By 2030, the number of such centers is projected to reach 2,400, creating 2.6 million jobs and contributing over $100 billion to the Indian economy. This shift means professionals can expect more opportunities and potentially higher salaries in these smaller cities. Factors such as rising wages, declining accounting graduates in developed countries due to the pandemic, and visa restrictions have positioned India as a global hub for business services, including taxation, data analytics, cybersecurity, and customer management. India has doubled its share in global services trade to over 4 per cent from 2 per cent in 2005, making it one of the world's leading exporters of services, as the World Trade Organization estimated.

Smaller cities and their untapped potential

Large accounting firms are seizing the opportunity to tap into the talent pool and competitive advantages offered by these smaller Indian cities. Deloitte, which already employs over 100,000 people in India, plans to hire an additional 50,000 staff members within the next three years and expand its presence in new locations. Similarly, KPMG aims to hire over 20,000 employees over the same period. PwC hired approximately 12,500 professionals in the last fiscal year and expects to hire a similar number this year. The move by these accounting giants is expected to provide relief to the labor market, which has experienced slower hiring in the manufacturing and IT sectors due to global growth concerns.

Prime Minister Narendra Modi has set a target of $400 billion for service exports in the current fiscal year, representing a 25 per cent increase from the previous year. Sunil Talati, president of the government-aided Services Export Promotion Council, believes that total services exports could surpass goods exports within the next five years, reaching $750 billion. Cities like Bhubaneswar in the eastern state of Odisha have witnessed the opening of offices by Deloitte, PwC, and IBM to cater to Indian and global clients.

The establishment of these new offices in smaller cities has not only provided employment opportunities but also stimulated other sectors. Educational institutions have introduced new courses to meet the demand, while property developers have launched building projects. Additionally, the demand for office space in smaller cities has surged, resulting in a rent increase of up to 10 per cent, as reported by Knight Frank consultancy.

Multinational and domestic accounting firms follow suit by moving their operations to smaller towns and increasing wages to retain skilled employees. Shortages of certified accounting professionals have been observed, prompting firms to adapt to the changing landscape and open offices in these emerging cities.

The trend of major accounting firms investing in smaller Indian cities signifies a significant shift in the country's business landscape. These cities are now being recognized for their potential in offering cost-effective solutions and a talented workforce, attracting global players and driving economic growth in previously untapped regions.

(With Inputs from Reuters)

Major accounting firms are increasing their investments in new facilities in smaller Indian cities as the demand for cheaper back-office operations rises, and these towns move up the economic value chain.

Major accounting firms are increasing their investments in new facilities in smaller Indian cities as the demand for cheaper back-office operations rises, and these towns move up the economic value chain. Traditionally, multinational corporations have established operational centers in India's largest metropolises, such as Mumbai, Delhi, and Bengaluru, due to the availability of a large, low-cost talent pool, especially in the field of information technology. However, the sector has experienced a slowdown in global demand for software and encountered challenges in big urban centers, including rising costs, high attrition rates, and difficulties in getting workers back to the office after the pandemic. According to a report by Ernst & Young cited by Reuters, multinationals are now expected to establish 'global capability centers' in tier-2 cities like Jaipur, Vadodara, Kochi, and Chandigarh. By 2030, the number of such centers is projected to reach 2,400, creating 2.6 million jobs and contributing over $100 billion to the Indian economy. This shift means professionals can expect more opportunities and potentially higher salaries in these smaller cities. Factors such as rising wages, declining accounting graduates in developed countries due to the pandemic, and visa restrictions have positioned India as a global hub for business services, including taxation, data analytics, cybersecurity, and customer management. India has doubled its share in global services trade to over 4 per cent from 2 per cent in 2005, making it one of the world's leading exporters of services, as the World Trade Organization estimated. Smaller cities and their untapped potential Large accounting firms are seizing the opportunity to tap into the talent pool and competitive advantages offered by these smaller Indian cities. Deloitte, which already employs over 100,000 people in India, plans to hire an additional 50,000 staff members within the next three years and expand its presence in new locations. Similarly, KPMG aims to hire over 20,000 employees over the same period. PwC hired approximately 12,500 professionals in the last fiscal year and expects to hire a similar number this year. The move by these accounting giants is expected to provide relief to the labor market, which has experienced slower hiring in the manufacturing and IT sectors due to global growth concerns. Prime Minister Narendra Modi has set a target of $400 billion for service exports in the current fiscal year, representing a 25 per cent increase from the previous year. Sunil Talati, president of the government-aided Services Export Promotion Council, believes that total services exports could surpass goods exports within the next five years, reaching $750 billion. Cities like Bhubaneswar in the eastern state of Odisha have witnessed the opening of offices by Deloitte, PwC, and IBM to cater to Indian and global clients. The establishment of these new offices in smaller cities has not only provided employment opportunities but also stimulated other sectors. Educational institutions have introduced new courses to meet the demand, while property developers have launched building projects. Additionally, the demand for office space in smaller cities has surged, resulting in a rent increase of up to 10 per cent, as reported by Knight Frank consultancy. Multinational and domestic accounting firms follow suit by moving their operations to smaller towns and increasing wages to retain skilled employees. Shortages of certified accounting professionals have been observed, prompting firms to adapt to the changing landscape and open offices in these emerging cities. The trend of major accounting firms investing in smaller Indian cities signifies a significant shift in the country's business landscape. These cities are now being recognized for their potential in offering cost-effective solutions and a talented workforce, attracting global players and driving economic growth in previously untapped regions. (With Inputs from Reuters)

Urbanisation reversed: Why major accounting firms are ditching India's metropolises

As a millennial, the words "smart earnings" are not too common in our vocabulary. We constantly hear people discussing it, but we convince ourselves that we do not have time to start making smart monetary decisions in the quest for a better future. All this can change with a simple switch in mindset and outlook.

Smart earning can only be done when you have a smart financial plan. According to Arun Singh Tanwar, founder and CEO of Get Together Finance, the ideal plan of financial planning is using his 50-30-20 rule which means to put the first portion into investing, the second portion into saving and the third into expense at the starting stage of earning. Then after some time, one can allocate the first portion into investing, then expenses, and lastly saving.

After a few years when financial commitments are the highest, it should be switched first to expenses then saving and the last can be kept for investment.

But do millennials follow that? Sadly, many do not follow this plan which leads them to an unsecured financial future.

Following a plan for smart earning is essential! When it comes to earning and managing money, millennials face a unique set of obstacles as they are more prone to their traditional methods of earning such as renting.

Below you'll find some smart earning tips that will help you make and save money for your later years.

<h2>Invest in the stock market</h2>

Millennials should place a high priority on saving and investing for the future. One should make a budget that allows you to save a certain amount each month from your income for investment. Rather than spending your savings out of excitement, think about investing it and securing it for a better financial future. Also, introduce yourself to various investment choices like stocks, commodities and land, to diversify your investment to minimise your risks. You can also take advantage of compounding by dividends as it is the best source of generating passive income for millennials.

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/lifestyle/news-dont-care-about-logos-but-want-high-end-luxury-products-at-one-third-of-the-price-this-is-for-you-611420">Don't care about logos but want high-end luxury products at one-third of the price? This is for you</a>

<h2>Improving your financial literacy</h2>

Financial education is an important part of smart money management, but it's often overlooked by millennials. By taking financial education, you can learn about investing, budgeting, and personal finance strategies for yourself. There are numerous online resources, courses, books, and podcasts available for educating yourself with the required financial literacy. Remaining up to date with market trends and financial events is also a very important aspect of smart earning.

<h2>Be an affiliate marketer</h2>

Today is all about generating income by doing smart work. Once you start being digitally active, have platforms and have an audience, all you need to do is put creative ideas in front of them. These days Instagram, YouTube and other such platforms have given space to people to showcase their talent, teach their skills, sell products or services as affiliate marketers, talk about things they know, and share thoughts without any hassle.

<h2>Start your business online</h2>

Online platforms have made it much easier for millennials to start a business without any prior infrastructure or huge investments. If you are a manufacturer or wholesaler, you can sell your products on platforms like Amazon, Flipkart, Shopify, and so on. Alternatively, you can act as a middleman, purchasing the products from the manufacturers and reselling them under your brand on specific websites.

<h2>Embrace the gig economy</h2>

The gig economy provides millennials with numerous opportunities to supplement their income. By using platforms like Uber, Airbnb, or outsourcing sites, you can bring in money according to your very own preferences. There are numerous ways to monetise your skills and interests in the gig economy and earn smartly without the hassle

<h2>Learn marketable skills</h2>

Investing in your ability to learn marketable skills can significantly increase your earning potential. It is essential to keep up with industry trends because technology is constantly changing. You can get into higher-paying jobs, freelancing or even start your own business digitally if you learn skills like coding, social media management, or graphic design.

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/lifestyle/news-paris-haute-couture-week-fall-winter-2023-24-schedule-with-show-timings-schiaparelli-christian-dior--more-611306">Paris Haute Couture Week Fall-Winter 2023-24 schedule with show timings: Schiaparelli, Christian Dior &amp; more</a>

<h2>Exchange-traded Funds (ETFs)</h2>

For millennials looking to invest in the stock market, index funds or ETFs offer an excellent way to gain exposure to a broad range of stocks. These funds track the performance of an underlying index and provide diversification without requiring extensive research or frequent trading.

Millennials must adapt and implement effective earning strategies in this era of rapid technological advancement and economic uncertainty. The key to building a solid financial foundation is to embrace the gig economy, acquire marketable skills, start a side business, and make prudent financial decisions. Millennials can empower themselves to navigate the modern earning landscape and ensure a prosperous financial future by implementing these suggestions.

(Inputs by&nbsp;Arun Singh Tanwar, Founder and CEO of&nbsp;Get Together Finance - GTF)

As a millennial, the words "smart earnings" are not too common in our vocabulary. We constantly hear people discussing it, but we convince ourselves that we do not have time to start making smart monetary decisions in the quest for a better future.

As a millennial, the words "smart earnings" are not too common in our vocabulary. We constantly hear people discussing it, but we convince ourselves that we do not have time to start making smart monetary decisions in the quest for a better future. All this can change with a simple switch in mindset and outlook. Smart earning can only be done when you have a smart financial plan. According to Arun Singh Tanwar, founder and CEO of Get Together Finance, the ideal plan of financial planning is using his 50-30-20 rule which means to put the first portion into investing, the second portion into saving and the third into expense at the starting stage of earning. Then after some time, one can allocate the first portion into investing, then expenses, and lastly saving. After a few years when financial commitments are the highest, it should be switched first to expenses then saving and the last can be kept for investment. But do millennials follow that? Sadly, many do not follow this plan which leads them to an unsecured financial future. Following a plan for smart earning is essential! When it comes to earning and managing money, millennials face a unique set of obstacles as they are more prone to their traditional methods of earning such as renting. Below you'll find some smart earning tips that will help you make and save money for your later years. Invest in the stock market Millennials should place a high priority on saving and investing for the future. One should make a budget that allows you to save a certain amount each month from your income for investment. Rather than spending your savings out of excitement, think about investing it and securing it for a better financial future. Also, introduce yourself to various investment choices like stocks, commodities and land, to diversify your investment to minimise your risks. You can also take advantage of compounding by dividends as it is the best source of generating passive income for millennials. Also read: Don't care about logos but want high-end luxury products at one-third of the price? This is for you Improving your financial literacy Financial education is an important part of smart money management, but it's often overlooked by millennials. By taking financial education, you can learn about investing, budgeting, and personal finance strategies for yourself. There are numerous online resources, courses, books, and podcasts available for educating yourself with the required financial literacy. Remaining up to date with market trends and financial events is also a very important aspect of smart earning. Be an affiliate marketer Today is all about generating income by doing smart work. Once you start being digitally active, have platforms and have an audience, all you need to do is put creative ideas in front of them. These days Instagram, YouTube and other such platforms have given space to people to showcase their talent, teach their skills, sell products or services as affiliate marketers, talk about things they know, and share thoughts without any hassle. Start your business online Online platforms have made it much easier for millennials to start a business without any prior infrastructure or huge investments. If you are a manufacturer or wholesaler, you can sell your products on platforms like Amazon, Flipkart, Shopify, and so on. Alternatively, you can act as a middleman, purchasing the products from the manufacturers and reselling them under your brand on specific websites. Embrace the gig economy The gig economy provides millennials with numerous opportunities to supplement their income. By using platforms like Uber, Airbnb, or outsourcing sites, you can bring in money according to your very own preferences. There are numerous ways to monetise your skills and interests in the gig economy and earn smartly without the hassle Learn marketable skills Investing in your ability to learn marketable skills can significantly increase your earning potential. It is essential to keep up with industry trends because technology is constantly changing. You can get into higher-paying jobs, freelancing or even start your own business digitally if you learn skills like coding, social media management, or graphic design. Also read: Paris Haute Couture Week Fall-Winter 2023-24 schedule with show timings: Schiaparelli, Christian Dior & more Exchange-traded Funds (ETFs) For millennials looking to invest in the stock market, index funds or ETFs offer an excellent way to gain exposure to a broad range of stocks. These funds track the performance of an underlying index and provide diversification without requiring extensive research or frequent trading. Millennials must adapt and implement effective earning strategies in this era of rapid technological advancement and economic uncertainty. The key to building a solid financial foundation is to embrace the gig economy, acquire marketable skills, start a side business, and make prudent financial decisions. Millennials can empower themselves to navigate the modern earning landscape and ensure a prosperous financial future by implementing these suggestions. (Inputs by Arun Singh Tanwar, Founder and CEO of Get Together Finance - GTF)

Money Matters 101: Smart earning tips every millennial should know

India is the favourite destination for foreign investors and the numbers clearly tell the story. A UN report says that India received the third-highest foreign direct investment for new projects last year.

India received $50 billion in new investment in 2022 - Third highest in the world

Market value is the price an asset would fetch in the marketplace or the value that the investment community gives to a particular equity or business. Watch the video to know more.

What is the market Valuations game?

The global hunger for fossil fuel continues even as climate change driven by excessive use of fossil fuels threatens mankind. Oil and gas giants have intensified their search for newer deposits as demand keeps increasing oil and gas firms have enjoyed record profits, owing to price rise amid the Ukraine war.

Oil and gas investments to rise to $528 billion in 2023

PM Narendra Modi’s visit to the US has triggered investment announcements from major companies. Semiconductor toolmaker applied materials has set its sights on India, announcing a jaw-dropping investment of $400 million in the country's engineering sector. This decision follows a high-profile meeting between Indian Prime Minister Narendra Modi and applied materials' CEO, Gary Dickerson.

Applied materials invests $400 mn in India's engineering future

Converting a great idea into a business requires a lot of hard work but that is just the beginning. Next comes the financial support and it was at this stage that a man in Bengaluru couldn’t believe his luck. We are talking about Pawan Gupta, the co-founder and CEO of Betterhalf.ai. In a tweet on Friday, he shared how he “found an unexpected investor in (his) landlord. Contrary to the cases from the city where landlords troubled tenants over minute factors, this house owner went above and beyond by investing $10,000 (Rs 8 lakh approximately) in Pawan's AI-driven matrimonial app. Betterhalf.ai, hailed as India's new age matrimony app and the country's first marriage super app, aims to help individuals find compatible life partners.&nbsp;

Pawan Gupta expressed his admiration for the entrepreneurial spirit of Bengaluru residents who made him believe that the city is called “Silicon Valley of India” for a reason. Using the hashtag #peakbengalurumoment, he shared his unexpected investor's story and expressed gratitude to the landlord for believing in him. “In a tough business landscape, I found an unexpected investor in my landlord. He recently invested $10K in my start-up, Betterhalf.ai. Truly amazed by the entrepreneurial spirit everyone in Bangalore shows. Silicon Valley of India for a reason,” tweeted Pawan.&nbsp;

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<blockquote class="twitter-tweet">
In a tough business landscape, I found an unexpected investor in my landlord. He recently invested $10K in my startup <a href="https://twitter.com/betterhalfai?ref_src=twsrc%5Etfw">@betterhalfai</a>. Truly amazed by the entrepreneurial spirit everyone in Bangalore shows. Silicon Valley of India for a reason. <a href="https://twitter.com/hashtag/peakbengalurumoment?src=hash&amp;ref_src=twsrc%5Etfw">#peakbengalurumoment</a> <a href="https://t.co/IfzUn0lPkl">pic.twitter.com/IfzUn0lPkl</a>
— Pawan Gupta (@pguptasloan) <a href="https://twitter.com/pguptasloan/status/1664630709095481345?ref_src=twsrc%5Etfw">June 2, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

The shared screenshot of the conversation between Pawan and his landlord is also winning the internet. In it, the landlord’s messages read: "I'm investing in U, honestly. All the best and hope you reach the greatest of heights. Dropped the investment. $10K.”

This act of faith and support from the landlord has also impressed social media users, who lauded the owner’s generosity and belief in Pawan's entrepreneurial skills.&nbsp;

One of the users commented, "Is that actually in $? That's great funding. Best wishes.” To this, Pawan Gupta replied, "Yes-that's correct. Bangalore surprises you."

Pawan Gupta, a graduate of MIT Sloan School of Management, has a strong entrepreneurial background. His latest company Betterhalf.ai introduces the world's fastest single matching system. 
 
&nbsp;

WATCH WION LIVE HERE

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Converting a great idea into a business requires a lot of hard work but that is just the beginning. Next comes the financial support and it was at this stage that a man in Bengaluru couldn’t believe his luck.

Converting a great idea into a business requires a lot of hard work but that is just the beginning. Next comes the financial support and it was at this stage that a man in Bengaluru couldn’t believe his luck. We are talking about Pawan Gupta, the co-founder and CEO of Betterhalf.ai. In a tweet on Friday, he shared how he “found an unexpected investor in (his) landlord. Contrary to the cases from the city where landlords troubled tenants over minute factors, this house owner went above and beyond by investing $10,000 (Rs 8 lakh approximately) in Pawan's AI-driven matrimonial app. Betterhalf.ai, hailed as India's new age matrimony app and the country's first marriage super app, aims to help individuals find compatible life partners. Pawan Gupta expressed his admiration for the entrepreneurial spirit of Bengaluru residents who made him believe that the city is called “Silicon Valley of India” for a reason. Using the hashtag #peakbengalurumoment, he shared his unexpected investor's story and expressed gratitude to the landlord for believing in him. “In a tough business landscape, I found an unexpected investor in my landlord. He recently invested $10K in my start-up, Betterhalf.ai. Truly amazed by the entrepreneurial spirit everyone in Bangalore shows. Silicon Valley of India for a reason,” tweeted Pawan. In a tough business landscape, I found an unexpected investor in my landlord. He recently invested $10K in my startup @betterhalfai. Truly amazed by the entrepreneurial spirit everyone in Bangalore shows. Silicon Valley of India for a reason. #peakbengalurumoment pic.twitter.com/IfzUn0lPkl — Pawan Gupta (@pguptasloan) June 2, 2023 × The shared screenshot of the conversation between Pawan and his landlord is also winning the internet. In it, the landlord’s messages read: "I'm investing in U, honestly. All the best and hope you reach the greatest of heights. Dropped the investment. $10K.” This act of faith and support from the landlord has also impressed social media users, who lauded the owner’s generosity and belief in Pawan's entrepreneurial skills. One of the users commented, "Is that actually in $? That's great funding. Best wishes.” To this, Pawan Gupta replied, "Yes-that's correct. Bangalore surprises you." Pawan Gupta, a graduate of MIT Sloan School of Management, has a strong entrepreneurial background. His latest company Betterhalf.ai introduces the world's fastest single matching system. WATCH WION LIVE HERE

India: Only in Bengaluru, landlord invests $10000 in tenant’s startup

Bangladesh has received a large-scale investment offer from Saudi Arabia because of its strong economy and stable leadership. The offer was made when the Saudi Arabian ministers for economy and planning Faisal Alibrahim and Khalid A. Al-Faliah paid a visit to prime minister Sheikh Hasina on Tuesday at her home in Doha.

Saudi Arabia offers large scale investment in Bangladesh

Whilst COVID-19 emerged to spell doom for the global economy back in 2019, it induced a golden period for the Indian startup ecosystem. Indian companies suddenly became the favourites of global investors as they kept pouring in massive funding incessantly.

Whilst COVID-19 emerged to spell doom for the global economy back in 2019, it induced a golden period for the Indian startup ecosystem. Indian companies suddenly became the favourites of global investors as they kept pouring in massive funding incessantly. It’s evident from the fact that Indian startups raised $13.2 billion in funding in 2019 and $10.9 billion in 2020. Then, 2021 turned out to be a ‘year of unicorns’ for the Indian economy, which saw Indian startups raising a record $35.2 billion in funding and producing at least 34 unicorn startups. However, the golden period seems to have come to a grinding halt now. Just two years down the line, the Indian startup ecosystem is facing a grave funding crisis. To put things in perspective, Indian companies have raised a mere $2 billion in the first quarter of 2023. This amount is 75 per cent lower than the same period last year, as per Reuters. Private equity and venture capital funding have also seen a drop of 60 per cent during the Q4 of FY23. At this miserable run rate, Indian companies might end this year with just $10 billion in funding, far less than $35.2 billion in 2021 and $20 billion in 2022. Experts say the Indian economy won’t see a repeat of the 2021-like funding boom in the coming decade. Reasons behind the funding crisis Both global as well domestic factors have triggered the dry funding spell for Indian companies. High interest rates, inflation, the banking crisis and the global economic slowdown have left global investors anxious. It must be noted that Indian startups have raised the majority of their capital from foreign investors only, so global factors directly impact the funding climate in India. Central banks around the world have resorted to increasing interest rates to tackle inflation; however, this has ratcheted up the borrowing cost. Adding to that, the banking crisis in the US has further tightened liquidity. The imminent recession in Western countries has further exacerbated the woes of global investors. It’s speculated that the US economy, along with Germany and UK, will enter recession in FY24. Domestic factors that have led to the funding crunch On the other hand, there are also some domestic factors to blame. Of all, the biggest factor is the faltering consumption growth in India. As per a report by Indian VC firm Blume Ventures, the consumption growth in India is driven by a “tiny superuser set.” Consumption outside the top layer of 30 million households has actually dropped sharply. As a result of this, the target market for Indian startups has reduced to a mere 100 million people, below 10 per cent of India’s total population of 1.4 billion. Moreover, global investors are fast realising the fact that many Indian startups which they funded earlier were massively overvalued. For instance, Blackrock cut the valuation of Indian EdTech company Byju’s by half from $22 billion to $11.15 billion. Similarly, Swiggy’s valuation was also slashed by a quarter by Invesco. Investors are waiting for further correction in the valuations of Indian companies. For example, Softbank has steered clear of Indian companies during the last year after leading the funding boom in earlier years. Watch: Gravitas Plus: Why are Indian Startups struggling? × According to SME futures, the slowdown in funding activity can also be attributed to the changed norms for foreign direct investment (FDI) introduced by the government of India in 2020. This has led to confusion among several foreign investors, making it even more difficult for Indian fund-seekers to raise capital from international VC firms. Rachit Poddar, Co-Founder of IVY Growth Associates, was quoted by SEM Futures as saying, “One of the main challenges that Indian start-ups face when seeking foreign investment is a lack of understanding of the Indian market by foreign investors. Additionally, regulatory hurdles and the complexity of the Indian tax system can be deterrents for foreign investors.” Indian government must do more Although the Indian government has launched several programmes to shore up the Indian startup ecosystem, such as the Start-up India Programme and the Fund of Funds for Start-ups; experts believe that might not be enough. There is still much to be done to make regulations simpler, lower administrative barriers, and encourage investors to fund early-stage start-ups. The government needs to work towards promoting private investment in startups. Also Read | ‘Biggest startup scandal’: How one event in India’s Noida scarred India’s entrepreneurial ambitions Despite all odds, it remains a fact that the Indian economy continues to be a bright spot in a world fast slipping into economic turmoil. As per projections made by IMF, India and China will contribute half of the global growth in FY24. India remains the world’s fastest-growing major economy, which is expected to grow at 6.8 per cent in the ongoing fiscal year. As relations between China and the West continue to deteriorate due to geopolitical tensions, India will clearly emerge as the only promising investment destination for international VC firms. WATCH WION LIVE HERE ×

Explained: Why are foreign investors no longer funding Indian startups? 

India stood&nbsp;fifth in terms of investments received by startups offering artificial intelligence (AI)-based products and services last year, according to Stanford University’s annual AI Index report.

India received $3.24 billion in total investments in AI startups in 2022, outpacing nations like South Korea, Germany, Canada, and Australia. The US, China, UK, and Israel are among the nations that are listed before India.&nbsp;

The Index additionally shows that India was the sixth-largest nation in terms of AI investments between 2013 and 2022, with funding for AI companies totalling $7.73 billion over the past ten years.&nbsp;This investment was made last year to the tune of about 40 per cent.&nbsp;

The conversational AI firm Uniphore, based in Chennai, raised $400 million in a Series-E Round last year, raising its valuation to $2.5 billion, making it the most valuable AI startup in India. Mad Street Den, an AI company with offices in Chennai and the US, raised $30 million in a Series C round headed by Avatar Growth Capital, making it one of the year's largest fund raises.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/technology/ai-models-like-chatgpt-drink-an-enormous-volume-of-water-finds-study-582496">AI models like ChatGPT ‘drink’ an enormous volume of water, finds study</a>

Despite the fact that the economic downturn has reduced investment in AI globally since 2021, experts predict a surge in venture capitalist (VC)&nbsp;financing this year, especially in light of the enormous demand for generative AI products like OpenAI's ChatGPT among both companies and customers. &nbsp;

“Given the unprecedented interest and the increasing industry sentiment that it is a step change in AI capabilities, I expect VC&nbsp;investments to gather pace in the coming quarters,” said Kashyap Kompella, an AI analyst and chief executive of research firm RPA2AI, who spoke to Tech Circle.&nbsp;

ALSO WATCH |&nbsp;After Google and Microsoft, Amazon AWS joins generative AI race

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Several Indian companies, including Flipkart and MakeMyTrip, are studying&nbsp;the usage of generative AI models in their products, as Mint previously reported. Startups like GupShup and Exotel have also unveiled systems for building chatbots that are similar to ChatGPT and are powered by OpenAI's GPT models.

Furthermore, according to the Stanford survey, 54 per cent&nbsp;of the researchers working on large language models (LLMs) were affiliated with American universities. But last year, scientists from Canada, Germany, and India made their initial contributions to the creation of LLMs.&nbsp;

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India stood fifth in terms of investments received by startups offering artificial intelligence (AI)-based products and services last year, according to Stanford University’s annual AI Index report.

India stood fifth in terms of investments received by startups offering artificial intelligence (AI)-based products and services last year, according to Stanford University’s annual AI Index report. India received $3.24 billion in total investments in AI startups in 2022, outpacing nations like South Korea, Germany, Canada, and Australia. The US, China, UK, and Israel are among the nations that are listed before India. The Index additionally shows that India was the sixth-largest nation in terms of AI investments between 2013 and 2022, with funding for AI companies totalling $7.73 billion over the past ten years. This investment was made last year to the tune of about 40 per cent. The conversational AI firm Uniphore, based in Chennai, raised $400 million in a Series-E Round last year, raising its valuation to $2.5 billion, making it the most valuable AI startup in India. Mad Street Den, an AI company with offices in Chennai and the US, raised $30 million in a Series C round headed by Avatar Growth Capital, making it one of the year's largest fund raises. ALSO READ | AI models like ChatGPT ‘drink’ an enormous volume of water, finds study Despite the fact that the economic downturn has reduced investment in AI globally since 2021, experts predict a surge in venture capitalist (VC) financing this year, especially in light of the enormous demand for generative AI products like OpenAI's ChatGPT among both companies and customers. “Given the unprecedented interest and the increasing industry sentiment that it is a step change in AI capabilities, I expect VC investments to gather pace in the coming quarters,” said Kashyap Kompella, an AI analyst and chief executive of research firm RPA2AI, who spoke to Tech Circle. ALSO WATCH | After Google and Microsoft, Amazon AWS joins generative AI race Several Indian companies, including Flipkart and MakeMyTrip, are studying the usage of generative AI models in their products, as Mint previously reported. Startups like GupShup and Exotel have also unveiled systems for building chatbots that are similar to ChatGPT and are powered by OpenAI's GPT models. Furthermore, according to the Stanford survey, 54 per cent of the researchers working on large language models (LLMs) were affiliated with American universities. But last year, scientists from Canada, Germany, and India made their initial contributions to the creation of LLMs. WATCH WION LIVE HERE:

India ranks fifth among countries with largest investments in artificial intelligence

India's Tata group is considering an additional 2 billion dollar investment into its super app. The additional funding is to strengthen its digital business according to media. Reports are quoting sources if the deal goes through targeted digital will receive the extra funding over the next two years.

Tata plans to invest $2 billion into super-app Neu

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