Tag: ASSOCHAM
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India should become big centre for data analysis: Ravi Shankar Prasad
New Delhi : Taking a cue from industrialist Mukesh Ambani’s oft-repeated statement that ‘data is the new oil’, the Minister for Electronics and Information Technology (MeitY), Ravi Shankar Prasad urged entrepreneures to help India become a big centre for data analysis. “How can you help India become a big centre of data analysis? …as someone…
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India set for AI-led economic transformation: Report
New Delhi : With over 36 per cent of large financial establishments investing in Artificial Intelligence (AI)-driven technologies and 70 per cent planning to embrace it, India is well poised for AI-led economic transformation, a PwC India and Assocham report said on Friday. Yet, While AI, Machine Learning (ML) and robotics have a wide range…
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RBI must ensure safety of proposed cryptocurrency: Assocham
New Delhi : Welcoming the RBI’s move to explore introduction of an official virtual currency in India, industry chamber Assocham on Sunday cautioned that extreme care be taken to ensure safety of the data trail that cryptocurrency transactions can leave behind. Placing a ban on all regulated entities, including banks, from dealing in virtual currencies…
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India cannot retaliate in global trade war: Assocham
New Delhi : An annual trade deficit of as much as $150 billion with the US alone does not allow India room to retaliate in the event of a global trade war being unleashed by recent protectionist trends in the developed world, since the country’s imports are mostly of an essential nature, industry chamber Assocham…
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PNB fraud should not halt corporate lending: Assocham
New Delhi : The alleged Rs 11,300 crore fraud on state-run Punjab National Bank (PNB) committed by accused diamantaire Nirav Modi should not halt the entire system of corporate lending as demoralisation would set in among public sector bank (PSB) employees, industry body Assocham said on Sunday. The country can “ill-afford” such fraud induced credit…
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January inflation eases to 5.07%, December IIP lower at 7.1%
New Delhi : A slight easing of food prices helped lower India’s retail inflation in January to 5.07 per cent even as factory production growth slowed somewhat in December to 7.1 per cent, according to official data on Monday. India Inc lauded the continuing high single-digit recovery in industry as well as the slight fall…
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Indian EV market to grow in double digits: Assocham
New Delhi : The Indian electric vehicles (EV) market is expected to grow at double digit rates till 2020, while the nascent telematics market is also poised to develop at a much faster rate, industry chamber Assocham said on Sunday. The EV industry in the country is at a nascent stage, comprising less than one…
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NBFCs must adopt tech to attract private equity funds: Assocham
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New Delhi : Though Indian non-banking financial companies (NBFCs) are growing in market share at a time when the banking system is grappling with the bad loans issue, they will have to keep pace with new technologies to attract investment, industry chamber Assocham said on Sunday. Citing its joint study “Fuelling NBFCs through Private Capital”,…
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Assocham seeks lower taxes, venture capital pool for electronics sector in Budget 2018-19
New Delhi : Industry body Assocham on Wednesday recommended a weighted tax deduction of 150-200 per cent on actual cost of specified components for the consumer electronics sector in the upcoming Union Budget. The deduction is required as costs pertaining to finance, energy and logistics/transportation constitute a major portion of consumer electronics sector, the chamber…
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India to see $50 bn mergers and acquisitions in 2018: Assocham
New Delhi : India is expected to see mergers and acquisitions (M&A) worth $50 billion in 2018 riding on plenty of stressed corporate assets on offer at tempting valuations, a report by industry chamber Assocham said on Monday. The forecast in 2018 was picked by Assocham Year Ahead Outlook from the trends in 2017 when…