Latest news with #GlobalCapabilityCentres
New Indian Express
3 days ago
- Business
- New Indian Express
Both AI and GCCs are new ways of growth and not a threat: Nandan Nilekani
Infosys chairman Nandan Nilekani said both Artificial Intelligence (AI) and Global Capability Centres (GCCs) are not a threat to IT services firms and that they are new ways of growth. Answering a shareholder's query on which is a greater threat to an IT service firm- AI or exponential growth of GCCs, Nilekani at the company's 44th Annual General Meeting (AGM) on Wednesday said the current wave of GCC is not about cost arbitrage, it's about innovation arbitrage. "Quite a few companies are setting up research centres, AI/Machine Learning centres, GCCs, and we're helping many of them in this regard. This means that GCCs are no longer our competitors, they're critical clients for us," he said. On AI, he said it is there in every part of the company's client conversations, and that they are seeing strong business traction, mainly driven by Infosys Topaz. Nilekani also answered shareholders on how the company is mitigating business risks considering the present macroeconomic uncertainties. He said, "Infosys is the leader in AI, cloud, data and digital for our clients. Despite macro challenges, we are confident of our positioning both on cost takeout and discretionary spend." He added that the company is continuously investing in reskilling and upskilling its employees in AI. "As of today, we have over 275,000 employees who are trained in AI at different levels of proficiency," he said. Infosys CEO and MD Salil Parekh said India is a strategic market for the company and that it is growing well. "India is a critical geography for us, we work with different Indian entities, for example, with the government on income tax, GST. We are doing work with LIC on next-gen digital capabilities, working with the majority of the banks in India. So, for us, it's a strategic market," he said. He also added that clients are prioritizing strategic AI partnerships using good traction for AI/Gen AI work, which is in software engineering, process optimisation, customer support, advisory services and sales & marketing. Senior executives also mentioned how the company is actively moving to tier-2, 3 cities to enable and attract more talent.
India.com
3 days ago
- Business
- India.com
Indias Per User Data Use To Hit 62 GB/Month By 2030, From 32 GB Now: Report
New Delhi: The Data traffic per smartphone user in India is projected to grow to 62 GB per month by 2030, up from the current level of 32 GB per month, which is still the highest in the world, according to the Ericsson Mobility Report. The report states that this significant growth will necessitate robust 5G infrastructure in the country. It further adds that, as of 2024, 4G remains the dominant subscription type, accounting for 53% of subscribers. However, it is forecast to decline to 230 million subscriptions by 2030 as users continue migrating to 5G. The sharp increase in data traffic is driven by growing 5G internet penetration, affordable smartphones, and a rising appetite for video and digital services across both urban and rural markets. Underpinned by strong population coverage, increasing data consumption, and accelerating Fixed Wireless Access (FWA) deployments, 5G penetration is expected to continue growing robustly. By December 2024, 5G subscriptions in the country reached 290 million, representing 24% of total mobile subscriptions. This figure is projected to climb to around 980 million by 2030, accounting for 75% of all mobile subscriptions. Nitin Bansal, Managing Director of Ericsson India, said, "At Ericsson, we are proud to support the country's digitalisation, based on the strong 4G and 5G infrastructure that we have set up in partnership with communication service providers. This is enabling connectivity and driving inclusive growth in the country." On the global front, 5G subscriptions are forecast to reach 6.3 billion by 2030 and will make up two-thirds of all mobile subscriptions. Western Europe is projected to have the highest 5G subscription penetration in 2030 at 93%, followed closely by North America at 91% and the Global Capability Centres (GCC) at 90%. The report also notes that generative artificial intelligence (GenAI) is increasingly becoming a significant selling point for smartphones. Efforts are underway to expand AI capabilities beyond the high-end segment to make such services accessible to a broader market. With the growth of AI applications and increasing model complexity, computing tasks will be distributed between devices and networks. This shift will bring uplink capabilities and latency into sharper focus for both application service providers and communication service providers, thereby contributing to the growth in 5G subscriptions. India has undertaken large-scale mid-band deployments and achieved around 95% population coverage with 5G by the end of 2024. According to government data, since its launch in October 2022, 5G services have been rolled out across all states and Union Territories, and are currently available in 99.6% of districts in the country. As of February 28 of the current year, 4.69 lakh 5G Base Transceiver Stations (BTSs) have been installed by Telecom Service Providers (TSPs) across the country—marking one of the fastest 5G rollouts in the world.
The Print
4 days ago
- Business
- The Print
Trade agreements with US, EU to be concluded soon: Sitharaman
India has already signed free trade agreements with the UAE, Australia, and 4-nation EFTA (European Free Trade Association) bloc and negotiations have been completed with the UK, she said adding 'with the US and the European Union, negotiations are really intensely going on and should come to conclusion sooner.' The emphasis now is on concluding more free trade agreements, she said while inaugurating Trade Conclave by India Exim Bank here. All efforts are being made to boost exports to achieve the ambitious target of USD 2 trillion by 2030. New Delhi, Jun 24 (PTI) Finance Minister Nirmala Sitharaman on Tuesday said negotiations for the proposed free trade agreements with the US and European Union (EU) are progressing at a fast pace and would be concluded soon. She also mentioned Budget announcements of Export Promotion Mission and Bharat Trade Net, a digital public infrastructure which provides a unified platform for trade documentation and financing solutions. The Budget also proposed a National Framework for Global Capability Centres (GCC) to further support services-led growth in emerging tier 2 cities and Trade Facilitation Measures. Referring to the country's exports, the finance minister said total exports of goods and services reached a record high of USD 825 billion in FY25, achieving 6 per cent growth over previous year. This is a significant leap from USD 466 billion in 2013–14. While global exports grew by only 4 per cent, India's exporters managed to fast-track and cross growth of 6.3 per cent despite global uncertainties on trade front, she said. Observing that exporters are 'swimming against tides' , she assured all support to them and urged them to focus on innovation and finding newer markets for their products. Quoting United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2025, she said, India's position has improved though the global FDI flows dropped 11 per cent. FDI inflows of nearly USD 668 billion from 2014-24 account for nearly 67 per cent of the total FDI reported in the last 24 years which was USD 991 billion, she said. India has deepened its participation in global value chains, she said, adding, Apple India's iPhone contract manufacturers have crossed the 20 per cent domestic value addition (DVA) threshold across variants. Speaking at the event, Financial Services Secretary M Nagaraju said India's growth prospects remain bright even as the world economy is troubled by geopolitical uncertainties and significant headwinds emanating from it. 'Even amidst all the global headwinds, India continues to be a beacon of hope,' he said. Nagaraju said that India's exports, which the commerce ministry is 'trying very hard' to integrate into the global value chain, are doing well irrespective of the challenges. Exports from the pharmaceuticals and gems and jewellery sectors are showing resilience, he said adding in this endeavour, the finance ministry is committed to extending support through policy, schemes and financial aid. 'Our financial systems are strong with adequate capital and low non-performing assets,' he said, adding, this gives strong support to India's financial needs. PTI DP DP ANU ANU This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
India Gazette
5 days ago
- Business
- India Gazette
India's real estate shines amidst slowdown in APAC markets: CBRE Survey
Delhi [India], June 23 (ANI): India's resilience and sustained positive trajectory across key real estate segments, particularly the office sector, at a time when several markets in Greater China and Australia are experiencing a softening in sentiment and more subdued leasing activity, revealed the Asia-Pacific Market Sentiment Survey by to the survey, this robust performance is driven by strong occupier confidence and consistent rental growth in its major cities. 'India's sustained office market momentum and high sentiment index reflect its growing stature as a stable and resilient investment destination. As APAC peers see softening demand, India's diversified occupier base, tech-driven demand, and long-term fundamentals are keeping leasing markets vibrant,' noted Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, India's office Market Sentiment Index surged significantly between September 2024 and June 2025, surpassing the 70 per cent threshold and marking the highest sentiment recorded in the country. This signals continued momentum in office leasing, fueled by strong demand from sectors like IT, BFSI, and Global Capability Centres (GCCs).While renewal versus relocation decisions dominated leasing activity in many office markets, India and Japan stood out with persistent expansionary demand, contrasting with a softening trend in Korea and Singapore. This positive sentiment is further corroborated by a recent CBRE office leasing report, which shows a 5 per cent year-on-year increase in total gross office leasing to 18 million sq. ft. across nine Indian cities in Jan-Mar 2025, demonstrating sustained occupier confidence despite global economic retail sector also showed strong resilience compared to its APAC counterparts. Despite a slight decrease in leasing activity, the market maintains a strong sense of optimism. Indian retailers are strategically expanding into high-traffic, high-potential locations within major urban centres, reflecting sustained consumer demand and strong long-term confidence in the country's retail Choi, Head of Research APAC, CBRE, noted, 'While much of the region is adjusting to post-pandemic occupancy trends, India is charting its growth path. Its commercial markets, particularly offices, show strength in demand and rental stability. This resilience positions India well for continued expansion, particularly as global enterprises reassess and diversify their APAC footprints.' (ANI)
Yahoo
7 days ago
- Business
- Yahoo
ICAI to host Global Capability Centres Summit
The Institute of Chartered Accountants of India (ICAI) is set to host a summit series under the theme "From Ledger to Global Leadership: Chartered Accountants Shaping Global Capability Centres". The inaugural event is scheduled for 27-28 June 2025 in New Delhi, with subsequent regional editions in Ahmedabad (GIFT City), Mumbai, and Hyderabad. The summit aims to showcase India's leadership in the Global Capability Centres (GCC) ecosystem and the significant role of Indian Chartered Accountants in the global services sector. The summit will gather industry experts, policymakers, academicians, and global stakeholders to explore emerging trends, create strategic partnerships, and drive innovation within the GCC domain. Government bodies, including the Ministry of External Affairs, Ministry of Electronics and Information Technology, IFSCA, SEPC, Invest India, NSDC, and IIM Sambalpur, have pledged support as Eco Partners for the series. India is home to more than 1,800 GCCs, employing upwards of 1.9 million professionals. ICAI president CA. Charanjot Singh Nanda said: "India is uniquely positioned to lead the next phase of the GCC evolution. Chartered Accountants are central to driving digital finance, regulatory integrity and global governance. Through this summit, industry experts and Chartered Accountants will come together to share insights, provide practical solutions and foster policy dialogue that can address these pain points and further strengthen India's position as a global GCC hub." ICAI vice president CA. Prasanna Kumar said: "While the GCC ecosystem in India continues to grow rapidly, it faces persistent challenges around regulatory clarity, taxation policies and evolving operational frameworks. The Summit will serve as a platform for collaboration, insights and leadership as we shape the future of the GCC ecosystem." The Delhi summit will feature panel discussions, keynote addresses, and networking opportunities, with a focus on strategic partnerships, digital transformation, and the evolving role of finance professionals in the GCC ecosystem. ICAI has established a dedicated group under its Directorate of International Trade, Services & WTO to promote India as a global hub for accounting and finance-focused GCCs. This initiative is stated to be a part of ICAI's commitment to the profession and national development, aiming to enhance the role of Chartered Accountants in finance leadership and global operations, and to prepare a skilled workforce for the GCC sector. ICAI invites industry professionals, GCC leaders, policymakers, and Chartered Accountants to engage in this dialogue that will shape the future of India's global financial leadership. Additionally, ICAI recently announced its plan to limit the number of tax audits that a partner can sign off in each year. "ICAI to host Global Capability Centres Summit" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
