NEW DELHI: In a bid to boost the domestic manufacturing of batteries and electronics goods, govt has waived basic customs duty on goods used in manufacture of display assemblies, lithium ion cell and inductor coil module.Among the three notifications issued by the finance ministry was one to exempt the basic customs duty (BCD) on the…
AMSTERDAM: India has emerged as the global development hub for more than 85% of Philips’ artificial intelligence (AI) solutions for healthcare, underscoring the country’s growing role in shaping next-generation medical technologies even as the company bets on AI-enabled diagnostics to help address India’s shortage of advanced imaging services and trained specialists.The company said its Bengaluru…
NEW DELHI: Govt will assess whether the rapid adoption of AI is affecting pace of expansion of global capability centres (GCCs) in India, Electronics and IT secretary S Krishnan said on Thursday, while arguing that AI could ultimately help the country attract higher-value work.At a CII event, Krishnan said it was “time to start measuring…
MUMBAI: The Forum for Internet Retailers, Sellers & Traders (FIRST) has dragged Walmart-owned Flipkart Group to the Competition Commission of India (CCI), seeking a fresh investigation into the conduct of the company over practices designed to distort competition, benefit few preferred sellers and exclude scores of small retailers from the marketplace system.In its 157-page complaint…
Pathways School, Gurgaon, one of India’s prominent IB schools, is in the process of being acquired by KKR-backed Lighthouse Learning Group, formerly EuroKids International, for about Rs 1,500 crore. It is being counted among the largest transactions yet in India’s school education sector.Pathway Gurgaon is a single campus spread across 10 acres with 4.5 lakh…
BENGALURU: TCS reported June-quarter revenue of $7.6 billion, up 2.7% year-on-year and largely flat sequentially. This reflects a cautious demand environment as global firms reassess technology spending amid macroeconomic uncertainty and rapid AI-led transformation. Revenue in constant currency, which discounts the impact of currency fluctuations, grew 0.4% sequentially and 3.2% year-on-year.The company reported a 2.7%…
Brent crude in London traded close to $79 a barrel on Thursday, taking its gain for the week to nearly 9%. (AI image) Iran has accelerated crude shipments, dispatching oil tankers carrying about 11 million barrels over the past 24 hours as tensions with the US escalate once again and President Donald Trump threatens to…
The latest trend reflects a new phase in the restructuring of India’s IT services industry, which is valued at over $315 billion. (AI image) Silent layoffs and job cuts are becoming the new norm in India’s technology and software services industry. As a result, as many as 35,000 jobs could be cut during the current…
The reduction in US government debt holdings has partly been offset by a rise in gold reserves. (AI image) As the Reserve Bank of India (RBI) continues its forex diversification strategy, India’s holdings of US Treasury securities are down to almost a six year low. As per US Federal Reserve data, India’s exposure to US…
India has poked holes in US’s plans to impose another tariff series linked to alleged forced labour, arguing that its own approach is inconsistent and the issue be dealt with through bilateral trade negotiations instead of unilateral action. Speaking before a panel of the US Trade Representative (USTR) earlier on Wednesday, Brij Mohan Mishra, joint…