Scoop: Flipkart product, tech head Jeyandran Venugopal may join Reliance Retail Ventures as CEO

Jeyandran Venugopal, Flipkart’s outgoing chief product and technology officer, will likely head Reliance Industries Limited’s (RIL) consumer-facing businesses. Venugopal is expected to take charge of Reliance Retail Ventures (RRV), which operates platforms such as Reliance Brands, JioMart, Ajio, Tira and other online and offline retail businesses.

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ET Graphics: How geopolitics influences technology

​​Although trade pressures may increase the cost of AI infrastructure projects, Big Tech companies look undeterred indicating continued confidence in the disruptive technology. But factoring in caution for oversupply, some companies are also reassessing expansion plans.

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Cricketer Jasprit Bumrah backs luggage startup Uppercase as an investor

Indian cricketer Jasprit Bumrah has made his first startup investment in luggage brand Uppercase. The partnership includes co-developing a product line for sportspersons. This reflects a wider trend of cricketers turning investors. Uppercase, backed by Accel, aims to break even soon and may explore a public listing in the future.

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WhatsApp faces outage for the second time, netizens react

According to Downdetector, which tracks downtime on popular platforms, user complaints regarding WhatsApp services surged to over 3,133 at 8:19 PM. Meanwhile, some users also reported experiencing similar issues on Facebook and Instagram, which are also owned by Meta.

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India fast positioning itself as key player in global semiconductor ecosystem

Under the government's 'Semicon India' programme, a Rs 76,000 crore ($10 billion) incentive package has been launched to boost domestic chip manufacturing, advanced packaging, and semiconductor design. "Coupled with strong participation from industry, over $20 billion in investments have already been committed by IESA member companies and global players across multiple Indian states," said Ashok Chandak, President SEMI IESA.

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Smartphones and computers get reprieve from new US tariffs on China

The exemptions are not a full reprieve. Other tariffs will still apply to electronics and smartphones. The Trump administration had applied a tariff of 20% on Chinese goods earlier this year for what the administration said was the country's role in the fentanyl trade. And the administration could still end up increasing tariffs for semiconductors, a vital component of smartphones and other electronics.

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Top tech and startup stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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TCS Calls Up Group Veterans to Lead the Voyage into AI

The IT giant has also created a new position of chief strategy officer appointing Mangesh Sathe, who currently is the chief executive of Tata Strategic Management Group. Sathe, who had previously worked as a principal with the Boston Consulting Group, will also head the Global Consulting Practice and oversee the M&A functions at TCS once he joins in May.

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TCS calls up group veterans to lead the voyage into AI

The IT giant has also created a new position of chief strategy officer appointing Mangesh Sathe, who currently is the chief executive of Tata Strategic Management Group. Sathe, who had previously worked as a principal with the Boston Consulting Group, will also head the Global Consulting Practice and oversee the M&A functions at TCS once he joins in May.

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Assam HSLC Result 2025 date and time announced: Here's when and where to check

The Assam HSLC Class 10 results 2025 will be declared today, April 11, at 10:30 AM by the Assam State School Education Board. Results will be available in PDF format listing roll numbers of qualified candidates. Exams were held from February 15 to March 3. Students can check their scores on SEBA’s official websites using their roll numbers.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Urban Company’s IPO nod, Canva spreads its wings

Happy Friday! At-home service provider Urban Company’s shareholders have greenlit its upcoming IPO. This and more in today’s ETtech Morning Dispatch.

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Meta flags DPDP Act clauses, seeks government collaboration

Emphasising the importance of personalised experiences, Rob Sherman, Meta's vice president of policy and deputy chief privacy officer, said, "You don't see the same Facebook news feed that I see. We each get a personalised experience that's based on what we're interested in. And I think that's an important part of using a service like Facebook or Instagram."

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Government’s paltry tax sops unlikely to steer GCCs to a safe harbour

India’s move to raise the safe harbour tax threshold for Global Capability Centres (GCCs) to Rs 300 crore has disappointed the industry. Experts say it’s insufficient, fails to reflect inflation or GCC growth, and won’t ease litigation or improve ease of doing business significantly.

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Alphabet CEO Sundar Pichai reaffirms planned $75 billion capital spending in 2025

Alphabet reaffirmed its plan to invest $75 billion in 2024 to expand data center capacity and support AI initiatives like its Gemini model. Despite uncertain returns and rising costs amid a global trade war, the company is betting big on AI, prompting investor concerns over the scale of spending.

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Computing India's AI future: Tech majors look to chip in

The government is subsidising 40% of the cost of GPUs, bringing the final price to under one dollar per hour of GPU usage for companies—the lowest in the world. The winners of the second round of the tender will be required to either match the lowest rates of the first round or offer lower prices.

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Some part of US tariffs here to stay: Tata Sons chairman Chandrasekaran

Tata Sons Chairman N Chandrasekaran said some U.S. tariffs are likely to remain, noting the real challenge is the shift from decades-old globalisation norms. He highlighted ongoing supply chain issues and announced Tata’s plan to open seven new factories by 2027.

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Wealthtech firm Scripbox eyes $20 million at $200 million value

Scripbox raised around $9 million in 2023 and 2024 through two funding rounds, primarily from existing investor Accel. It sought to raise funds from new investors last year but eventually secured $5 million from Accel at a post-money valuation of $138 million.

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Indian STEM grads may run out of US stay OPTions

The development has panicked existing F-1 and M-1 student visa holders who are frantically applying for jobs that can transition them to an H-1B work visa, primarily sponsored by large US and Indian technology companies, said experts. The Open Doors 2024 report shows that over 300,000 Indian students were enrolled in US institutions during the 2023-24 academic year, with nearly one-third eligible for OPT.

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Digital payment company Easebuzz bags $30 million lead by Bessemer

Speaking with ET, Rohit Prasad, managing director, Easebuzz, said that existing investors 8i Ventures and Varanium Capital also participated in the round. Dexter Capital acted as an advisor to Easebuzz to facilitate this funding. The company closed FY25 with a net profit of Rs 22 crore and gross revenue of Rs 650 crore.

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Revolut gets RBI nod for PPIs, wallets

Revolut India already holds licences to function as a Category-II Authorised Money Exchange Dealer (AD-II), and to offer multi-currency forex cards and cross-border remittance services. With the PPI licence in place, Revolut can now offer both international and domestic payment solutions under one platform in India. Through its mobile wallet product, Revolut will also be able to offer UPI payment services to its Indian customers.

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Shipping giant CMA CGM and French AI startup target customer service in tie-up

After drawing massive funding, the AI sector is under pressure to deliver gains, with the emergence of low-cost Chinese AI model DeepSeek unsettling investors. Mistral gained huge exposure at an international AI gathering in Paris in February, feted by President Emmanuel Macron as a European champion to compete with American giants such as OpenAI, which produces ChatGPT.

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Piyush Goyal announces national helpline desk for startups

Union Minister Piyush Goyal announced a dedicated Startup India Desk to help entrepreneurs tackle regulatory issues. The multilingual helpline offers policy feedback, complaint redressal, and aligns with a Rs 10,000 crore fund for early-stage, deep-tech startups.

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RRB ALP CBT 2 revised schedule announced: Check detailed timetable here

The Railway Recruitment Board has rescheduled the CBT-II for CEN-01/2024 to May 2 and 6, 2025, affecting select candidates from March 19–20 shifts. Revised reporting times and document download dates have been issued. RRB urges candidates to rely only on official updates and warns against fraudsters offering false job assurances.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Meta releases new AI model Llama 4

Meta said Llama is a multimodal AI system. Multimodal systems are capable of processing and integrating various types of data including text, video, images and audio, and can convert content across these formats.

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People+ai’s Tanuj Bhojwani steps down

EkStep Foundation cofounder and CEO Shankar Maruwada and policy and partnerships chief Deepika Mogilishetty will now take a more active role in the people+ai initiative, two people aware of the development said.

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11 months & counting: Open Cloud Compute yet to go live

Launched by AI non-profit based in Bengaluru people+ai, Open Cloud Compute (OCC) was envisioned as an interconnected cloud computing infrastructure, where independent compute providers with different GPUs could collaborate on a single platform, enhancing their discoverability and utilisation by customers.

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Microsoft, turning 50, dials up Copilot actions to stay in AI game

Copilot, Microsoft's AI assistant, is gaining a host of new features to make it more proactive. The version for consumers will start remembering personal facts about them. It will offer birthday reminders or support ahead of a presentation, or consumers can opt out, Mehdi said in an interview.

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India’s tariff silver lining; Krutrim’s hiring push

Happy Friday! High tariffs may reduce India’s electronics exports to the US, but its edge over China and Vietnam could drive growth. This and more in today’s ETtech Morning Dispatch.

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India’s $280 billion IT services industry likely to face setback due to Trump administration’s reciprocal tariffs

The US government’s latest moves are however set to delay or derail a recovery for the IT services sector with revenue growth likely to have declined as much as 1.3% sequentially in the March quarter.

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Solartech startup Aerem raises Rs 100 crore in round led by Japan-based UTEC

British International Investment, SE Ventures, Riverwalk Holdings, and Avaana Capital participated in the round, which was a mix of equity and debt. The funds will be used to expand its operations pan India, improve financing and marketplace solutions, strengthen the platform, and diversify the lending portfolio.

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Infosys says Cognizant used its healthcare business for market control

Infosys has accused Cognizant of attempted monopolisation and unreasonable restraint of trade, and requested the court that "Cognizant's motion should be denied in its entirety." This comes around a month after Cognizant in a filing alleged that Infosys was "caught red-handed" stealing trade secrets of TriZetto.

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Hillary Clinton joins Bluesky amid growing exodus from X

This follows former president Barack Obama debuting on the platform last week. Though Bluesky’s user base remains smaller than that of X, the open-source social network has amassed over 33 million users. Bluesky has positioned itself as an alternative social media platform for users dissatisfied with X’s shift to the right.

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EV finance company charged up over electric commercial vehicles

Industry estimates suggest India will need $30 billion in EV financing over the next five years. While banks and non-banking financial companies (NBFCs) focus on passenger EVs, fintechs are targeting commercial vehicles.

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Trump tantrums and client rethinks likely to slow IT recovery

India’s $280 billion IT services sector faces delays in recovery due to economic uncertainties, client budget cuts, and deal pauses. Analysts predict minimal growth, with mid-tier firms outpacing larger rivals. FY26 demand growth remains uncertain.

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AI Mission GPU L1 bidders set to get workloads assigned by April second week

Reliance Jio, E2E, NxtGen, Locuz, and CtrlS, as L1 bidders in IndiaAI Mission's GPU tender, will receive AI workloads. They’ll integrate with the AI Compute portal by April 14, with further evaluations and fresh applications in April.

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Influencer commerce startup Lehlah raises Rs 12.5 crore in funding led by Nikhil Kamath’s Gruhas

Currently focused on fashion and beauty, Lehlah is now expanding into home accessories and gadgets. It recently partnered with Flipkart to market a wider range of products, including homeware, kitchen appliances, and other household essentials.

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Local, smaller ISPs struggle as Jio, Airtel intensify broadband push

Out of 2,000 internet service provider (ISP) licensees, 1,300 are active, and the past six months have seen multiple new licences being issued and cancelled amidst a slow consolidation, as shrinking margins make it difficult for smaller players to sustain. Even larger ISPs are burning cash, as they require costly over-the-top (OTT) tie-ups to compete with Jio and Airtel.

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ETtech Explainer: Differentiating section 69A & 79 amid X row

The Union government has reportedly submitted that this mechanism complements rather than “eviscerates” the Section 69A blocking process. It has reportedly called X’s conflation of these processes an attempt to evade intermediary obligations while retaining protection from liability for third-party content.

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Delhi DoE Class 6,7,8,9, and 11 result declared: Check direct link here

The Directorate of Education (DoE) Delhi announced results for Classes 6, 7, 8, 9, and 11 in Science, Arts, and Commerce. Students can check their results on edudel.nic.in by entering Student ID, Class, Section, and Date of Birth. Class 11 candidates must choose their stream to view the detailed results. Students across Delhi are notified.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Microsoft's premature release of GPT-4 test in India contributed to Sam Altman's ouster from OpenAI: WSJ report

In November 2023, Sam Altman was ousted as OpenAI CEO for lack of candor, with controversies surrounding GPT-4’s premature release, fund mismanagement, and internal conflicts leading to his eventual reinstatement.

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SaaS-ination? AI may be threatening traditional SaaS model

Artificial intelligence may be threatening the existence of the traditional Software-as-a-Service model, forcing even established companies to adapt and innovate, or risk oblivion.

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How AI is changing the way the world builds computers

The rise of AI is driving massive demand for specialised data centres packed with GPUs, which require vast amounts of electricity and water. Companies like OpenAI, Google, and Meta are investing billions to build new facilities worldwide, reshaping technology, energy, and local communities, while raising concerns over environmental impact.

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Top tech and startup stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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Dholera chips in to make expats feel at home

Dholera, India’s first semiconductor hub, is developing a "Global Tent City" for expats, featuring international food streets, cultural shows, shopping, and recreational facilities to cater to global talent and make them feel at home.

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Mid-market firms may drive India’s GCC growth numbers

India is witnessing a rise in mid-market firms establishing global capability centers (GCCs), with revenues projected to grow 15-20% between 2024-2026. Flexible, cost-effective models drive adoption, attracting firms from the US, Europe, and the Middle East.

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Uber offers driverless car tech companies a ride to market

Uber has launched autonomous vehicle (AV) rides with Waymo in Austin, Texas, aiming to become the top platform for AV commercialisation. While AVs promise scalability and efficiency, challenges include safety, regulations, and cost-effectiveness. Uber envisions a hybrid model with both AVs and human drivers.

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Groww in talks to rack up $200 million via pre-IPO funding at $6.5 billion valuation

Singapore’s sovereign wealth fund GIC, existing investor Tiger Global tapped, according to sources in the know. Groww, which started as a direct mutual funds distributor, is currently the largest stockbroker in the country in terms of active clients.

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Google unveils Gemini 2.5, claims enhanced reasoning and coding capabilities

Google describes Gemini 2.5 as a “thinking model”, capable of reasoning through its processes before responding, leading to enhanced accuracy. The company claims the model can analyse information, draw logical conclusions, and tackle complex problems more effectively.

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ClarityX launches Places Pulse tool to detect patterns in consumer movements with Mappls MapmyIndia Data

Rakhi Prasad, cofounder of ClarityX said that with this tool, businesses and policymakers can point to demand spikes, identify location-based consumer behaviour, and strategise at zero cost. The tool uses Mappls MapmyIndia's hyperlocal maps data and location tech to analyse search trends by state, category and time frame to stay updated on popular destinations.

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AI bias, demand uncertainty hit pricing power of India’s IT

India’s $280 billion IT sector faces pricing pressure due to uncertain demand and AI adoption. Competition is rising, deal rates are dropping, and firms are leveraging automation and tier-2 locations to maintain profitability amid changing client expectations.

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OpenAI COO to spearhead global growth, partnerships in expanded role, Sam Altman says

OpenAI is partnering with SoftBank Group and Oracle to establish a network of data centers under the $500-billion Stargate project, aimed at powering artificial intelligence workloads. "Brad will lead our global deployment, focusing on business strategy, key partnerships, infrastructure, and operational excellence to maximize the impact of our research," Altman said.

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P2P lending slows as RBI move clouds future of key players

The peer-to-peer (P2P) lending sector has experienced a significant slowdown over the past year as the Reserve Bank of India (RBI) has tightened regulations on the industry. According to two founders in the sector, the total assets managed through P2P lending platforms have plummeted from approximately Rs 10,000 crore a year ago to around Rs 3,000 crore.

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Amazon India to scrap referral fees on 1.2 crore products under Rs 300

Amazon's move, the largest seller fee reduction till date, will be applicable across more than 135 product categories including apparel, shoes, jewellery, grocery, home décor, beauty, toys, and kitchen products. Currently, referral fees – a commission sellers pay Amazon on each sale – range from 2% to 16% in these categories.

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CUET UG 2025 registration deadline extended till March 24, check direct link here

NTA has extended the CUET UG 2025 registration deadline to March 24, with fee submission due by March 25. The correction window will be open from March 26-28. Exams will be held from May 8 to June 1. Candidates should apply on cuet.nta.nic.in promptly to avoid last-minute issues. Paper-wise schedules will be announced later.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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India’s IT sector treads the tightrope between tariff wars and recession fears

India's software services exporters face uncertainty as global tariff wars, particularly from the US, and economic concerns impact growth prospects. While demand from key sectors like BFSI showed early recovery, fears of recession, rising costs, and AI adoption challenges could dampen prospects. Hiring trends are increasingly centred around AI-related skill

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19 years of Twitter

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Top tech and startup stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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Civil society seeks rollback of DPDP changes to RTI Act

Over 30 civil society groups launched a campaign to revoke a provision in the Digital Personal Data Protection (DPDP) Act that amends the RTI Act. They argue it limits access to crucial information, hindering transparency, accountability, and media freedom, while also threatening privacy rights and government oversight.

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Leap of faith: Spiritual apps on global quest

Devotional apps like AppsForBharat, Vama.App, and Utsav expand globally, targeting the Indian diaspora with digital rituals and ecommerce. Fueled by Maha Kumbh’s surge, they drive growth through engagement and venture capital funding.

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Eye on AI, tech companies rejig top deck, plan structural overhaul

India’s IT services sector is undergoing leadership and structural changes due to AI’s rising influence and a tough business environment. Several companies appointed new CEOs, revamped roles, and restructured operations to enhance efficiency and remain competitive.

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Fintech sees early green shoots as growth-stage deals pick up

The fintech investment landscape is reviving, with growth-stage deals attracting over $550 million in 2025. Regulatory clarity, emerging wealth-tech opportunities, and major IPOs from firms like PhonePe and Groww are boosting investor confidence in the sector.

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‘Meta will launch community notes-based fact checker in the US first’, says company's senior executive

Meta will replace third-party fact-checking with community notes in the US first, delaying global rollout until 2026. Meta’s Joel Kaplan emphasised AI innovation, regulatory clarity, and India’s potential in open-source AI development.

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AI influencers are here: Turning social media into profit

Since ChatGPT's 2022 release, AI-focused creators have surged on social media, sharing insights and content on tools, models, and AI developments. Many have turned this into profitable ventures, earning through newsletters, masterclasses, and brand collaborations. Platforms like X and LinkedIn offer good opportunities, especially for niche, professional audiences.

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Hit a regulatory bump? Interministerial panel set up to address fintech troubles

The government has formed an inter-ministerial committee to address fintech industry challenges, balancing innovation with regulation. It includes key regulators and fintech leaders, aiming to analyze sector growth and propose policy recommendations within three months.

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Exporters take wind out of shippers’ sails

Worried by the uncertainty from the US' incoming tariffs, exporters in sectors like electronics, gems, jewellery, apparel, and footwear are facing various logistical challenges to speed up deliveries by air, instead of using their usual shipping methods.

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PSPCL extends apprenticeship application deadline for lineman trade to April 17

Punjab State Power Corporation Limited (PSPCL) has extended the deadline for Assistant Lineman applications to March 17, 2025. The total vacancies have also been increased from 2,500 to 3,000, providing more opportunities for candidates. These positions are available across various categories, with a significant number reserved for women. Interested candidates with an ITI in Wireman or Electrician trade can apply through the online portal before the new deadline.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Uber in early discussions with EV ride-hailing startup BluSmart for a possible acquisition

Uber is in early talks to acquire BluSmart Mobility, boosting its electric cab presence in India. The move comes amid Gensol Engineering’s financial troubles, increasing competition, and Uber’s strategic focus on the mobility sector.

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TSPSC Group 3 result 2025 declared at tspsc.gov.in: Check direct link here

The Telangana State Public Service Commission (TSPSC) has announced the Group 3 Preliminary Examination results for 2025 on March 14. Candidates can check their results on the official TSPSC website by entering their hall ticket number and date of birth. The exam, held on November 17 and 18, 2024, aimed to fill 1,365 vacancies. A general rank list has also been published along with the results for candidates to access.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Intel's new CEO to receive $1 million as base salary

The company named Tan as the CEO on Wednesday, tasking the industry veteran to lead a faltering transition to a successful chip manufacturing firm as well as chip design house. He will take charge on March 18.

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Venture firm 3one4 Capital returns entire first fund capital to sponsors

3one4 Capital fully returned its first fund’s capital, with unrealised returns set for 4x gains. The 2016 fund backed startups like Darwinbox and Licious. The firm has exited multiple investments and anticipates IPOs from key portfolio companies.

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JPMorgan engineers' efficiency jumps as much as 20% from using coding assistant

The efficiency gains from the coding assistant will also allow JPMorgan's Indian centres to devote more time to high-value projects focusing on artificial intelligence and data, said Lori Beer, global chief information officer, JPMorgan Chase.

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Safe harbour regime is a big hurdle in GCC growth path, say experts

Experts urge reforms in India’s transfer pricing laws to boost Global Capability Centres (GCCs). They recommend a flexible safe harbour regime, tax incentives, single-window clearances, and talent development to enhance India’s competitiveness and attract more GCC investments.

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Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay

The FTC requested a trial delay in its Amazon Prime lawsuit, citing severe resource shortages due to Trump-era cuts. Amazon denies wrongdoing. The judge asked for a written request by Friday.

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Energy storage startup AmpereHour Energy raises $5 million from Avaana Capital

AmpereHour Energy raised $5 million from Avaana Capital and UC Impower to expand manufacturing, R&D, and product development. The startup, specialising in energy storage, aims to scale capacity to 1 GWh in 18 months amid rising industry demand.

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Apple preparing for a major software overhaul: Report

The revamp, which is loosely based on Vision Pro's software, would include a style update of icons, menus, apps, windows and system buttons, the report said. Vision Pro is Apple's mixed-reality headset.

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ET Corporate Awards | At the core, our startup DNA still continues: Zomato CFO Akshant Goyal

While receiving the Emerging Company of the Year award at The ET Awards for Corporate Excellence in Mumbai, CEO Deepinder Goyal said Zomato is a unique business in India, in terms of the amount of direct and indirect employment the business creates.

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5G’s cosmic ring: Unlocking global connectivity with non-terrestrial networks

Satcom is answering the call for enhanced connectivity, but are India’s 5G non-terrestrial networks ready to take off? The integration of 5G NTN could revolutionise connectivity, enabling remote services and opening new revenue streams for telecom players, though challenges remain in scaling and profitability.

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Top tech and startup stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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US to hold hearing on China's efforts to boost semiconductor industry

The investigation, initiated by former President Joe Biden in December, seeks to safeguard American and other semiconductor manufacturers from China’s extensive state-led expansion of its domestic chip supply.

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Razorpay enters Singapore; targets $5 billion in payment volume from Southeast Asia over two years

The digital payments firm currently processes around $1 billion in TPV in Southeast Asia, said cofounder and MD Shashank Kumar.

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Blinkit, Zepto hike commissions to boost per-order earnings

Blinkit and Zepto are raising commissions to boost revenue amid competition and investor concerns. Zepto’s hikes align with its IPO plans, while Blinkit is shifting to a variable model. Both firms continue aggressive expansion despite increased cash burn and market pressures.

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Public sector banks eye fintech tie-ups for MSME loans

Public sector banks are strengthening fintech partnerships to boost MSME lending amid a government push. Co-lending models and digital solutions are driving growth, though operational challenges remain in scaling supply chain financing.

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Founders on a second innings: For some, it’s a venture out; for others, a point to prove

Amid a tech and venture capital reset, many founders have left their startups to launch new ventures, leveraging past experience and networks. Emerging sectors like AI and deeptech are attracting entrepreneurs seeking fresh opportunities.

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SpaceX aims for Thursday Starship test flight

Elon Musk's SpaceX is now aiming for Thursday to conduct the next test flight of its massive Starship rocket, following a last-minute cancellation on Monday.

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Lenskart’s Peyush Bansal charts global expansion amid IPO buzz

Lenskart CEO Peyush Bansal highlighted that, although discussions about an IPO are ongoing, the company is primarily focused on growth and maintaining consistency with customers, which is crucial for long-term success.

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Cybertrucks to Smart Gadgets, Mobile World Congress bustles with cutting-edge tech in Barcelona

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Quick commerce sector burning Rs 5,000 crore per quarter: Zomato CEO Deepinder Goyal

Quick commerce player Blinkit accounts for 2-3% of the industry cash burn but has a 40-45% market share. Its focus is on sustaining growth while ensuring discipline in cash allocation for investment, said the CEO of Blinkit’s parent, Zomato.

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IN-SPACe proposes tech consortium to steer auto industry towards ISRO’s sensors

However, to make this a reality, the high prices of ISRO’s sensors need to be cut to a tenth. According to IN-SPACe chairman Pawan Goenka, to achieve this goal, an entirely different production process needs to be put in place.

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Apple defeats US consumer lawsuit over iCloud storage, for now

U.S. District Judge Eumi Lee in San Jose, California, on Friday said the plaintiffs in the class action had not shown Apple violated federal or state antitrust law. However, she ruled they could amend their complaint and refile it.

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Corporate payments fintech startup Ramp valued at $13 billion after share sale deal

The five-year-old startup hit the new valuation as it sold $150 million worth of its secondaries to investors including Singaporean wealth fund GIC, Thrive Capital, Khosla Ventures and General Catalyst, Ramp said in a statement on Monday.

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Together eyes final close of Fund-II by June to up AI play

Venture capital firm Together Fund expects to close its $150 million Fund-II by June and ride India's artificial intelligence (AI) wave. Founded in 2021 by Freshworks founder Girish Mathrubootham and Eka Software founder Manav Garg, Together plans to focus on AI through its second fund and support 19-20 firms in the segment.

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ETtech Deals Digest

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Tech to let you hear the future: AI-driven sound innovation

Shyam Gollakota, a professor at the University of Washington, is using AI to enhance how we hear and interact with sound. The technology can isolate individual sounds, place it in a spatial context, and control what the listener hears, improving auditory experiences.

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Fair Winds: TCS to navigate challenges with AI and emerging opportunities

TCS had its share of ups and downs in the last 12 months, but what lies ahead for the $29-billion IT giant in 2025? As the company faces increasing competition and a changing market, opportunities in AI, digital transformation, and deal consolidation could steer its growth.

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Ola's AI venture runs into human (resources) glitch

Most of the exits took place between March and November 2024, some quitting within a year of joining the firm and a few leaving in a matter of months. ET reported last year that Ravi Jain, who was brought in from Ola Electric in May 2023 as business head, had left the firm. Jain's LinkedIn shows he quit in November.

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Top tech and startup stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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US court finds Byju Raveendran, Think & Learn, company directors guilty of fraud

According to the lenders' statement, the court confirmed that several fund transfers from Byju’s Alpha were fraudulent and constituted theft. It also ruled that Riju Ravindran breached his fiduciary duties as a director of Byju’s Alpha.

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Bharat BillPay turns to education; From archives to AI

Happy Friday! Education sector has emerged as the next major opportunity for NPCI BharatBillPay. This and more in today’s ETtech Morning Dispatch.

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NPCI's Bharat BillPay spots a big opening in education fee payments

NPCI Bharat BillPay sees digitising education fee payments as a major opportunity, aiming to onboard schools and colleges onto its Bharat Connect platform. Government initiatives and fintech partnerships are driving adoption, promising efficiency and transparency in institutional payments.

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EU's AI policy pivot due to overall sense of overregulation: Michael McNamara

The EU recently withdrew its AI Liability Directive, which was first proposed in 2022 and proposed to penalise offending organisations for causing harm through AI systems. The European Union's AI regulation came into effect in August 2024, with various provisions of the Act coming into effect through 2025 till 2027.

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HD Hyundai Heavy Industries looks to build shipyard in India; scouting for locations and tie-ups

South Korea’s HD Hyundai Heavy Industries is exploring shipyard locations in India, visiting Tamil Nadu and negotiating with Andhra Pradesh and Maharashtra. The move aligns with India's shipbuilding expansion, aiming for global market growth and technology collaboration.

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Uber’s private car ride-share service starts from Assam

The service will begin in Assam, with women and army veterans as drivers, serving as a case study for Uber to pitch it to other states. Globally, including the US, the UK and Australia, Uber is permitted to onboard private car owners as taxi operators, something that the company has been pushing for in India as well.

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Infosys pay hikes

Infosys rolls out salary revision letters with 5-8% average hikes.

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ETtech Explainer: How is Sonnet 3.7 hybrid reasoning model different from rest of AI pack?

Claude 3.7 Sonnet, which comes after Claude 3.5 Sonnet in Anthropic's family of models, is an ordinary LLM and a reasoning model rolled into one. Some commentators and early testers on X called the model “amazing for programming” and “the best coding AI model”. It has been made available on coding platform GitHub and on AI-powered search engine platform Perplexity AI.

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CBSE Class X students can skip subjects, retake exams under new norms

Starting in 2026, CBSE students can choose between two Class X Board exam sessions in February and May, or opt to appear for both. Students can skip specific subjects in the second attempt if satisfied with their initial scores. Examination fees will be increased, and there will be no supplementary exams as the May session acts as one.

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ET Graphics: Majorana I, Willow and new frontiers of quantum computing

The groundwork for quantum computing was laid in the early 1980s when physicists Richard Feynman and David Deutsch discovered that by applying quantum mechanics laws, these computers could outperform traditional ones.

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‘India has potential to be a global player in quantum matter research’

Vedika Khemani, associate professor of physics at Stanford University, tells Puran Choudhary that India could be a global player in quantum matter research if it invests in its potential

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Seeking the right model: What's keeping India from building its own LLMs

Swathi Moorthy and Annapurna Roy look at the major bottlenecks in building Indian foundational models and what’s needed to bolster the innovation ecosystem

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Flipkart’s Super.money acquires BharatX’s tech, key team members to expand credit offerings

This deal does not involve a full acquisition of BharatX, a Y Combinator-backed fintech credit startup, given its existing credit-related liabilities.

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Battery-swapping companies cash in on quick commerce’s EV turn

The increasing adoption of electric vehicles for last-mile deliveries in quick commerce is driving business for startups focused on charging infrastructure and battery-swapping services. Platforms like Blinkit, Zepto, Swiggy Instamart, and Flipkart’s Minutes, which compete in the fast-growing but highly competitive quick commerce market, are turning to EVs to cut delivery costs.

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Meta lays off 3,600 workers—Then hands execs up to 200% in bonuses

Meta has increased executive bonuses to 200% of their base salary while laying off 3,600 employees, citing “low performance.” The decision, justified as an alignment with industry standards, has triggered backlash online. Many accuse Meta of prioritising top executives over workers. Former employees claim layoffs were more about cost-cutting than performance. While some acknowledge the pay hike as standard practice, the timing has raised serious ethical concerns about Meta’s treatment of its workforce.

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UGC NET December 2024 cut-offs announced: Check qualifying criteria for key subjects and more

UGC NET December 2024 cut-off: The National Testing Agency (NTA) has announced the UGC NET 2024 cut-off for the December session, including subject and category specifications. The cut-off marks are accessible on the official website. Over 6.49 lakh candidates appeared for the exam, with over 1.14 lakh qualifying for Ph.D. admission only.

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UGC NET December 2024 result out, over 1.14 lakh candidates qualify for PhD admissions: Direct link to check here

The National Testing Agency (NTA) has announced the UGC NET December 2024 results, with 6,49,490 candidates having appeared for the exam. The scorecards and cut-off marks are now available on the official website, and eligibility certificates for qualified candidates are expected soon.

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Officials are fired at traffic safety agency investigating Elon Musk's company

The National Highway Traffic Safety Administration has three active investigations of Tesla, according to agency documents, including one examining whether the company's autonomous driving software is prone to failure when visibility is poor.

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OpenAI CEO Sam Altman welcomes baby boy, expresses ‘never felt such love’

“Welcome to the world, little guy! He came early and is going to be in the NICU for a while. He is doing well and it’s really nice to be in a little bubble taking care of him. I have never felt such love,” Altman posted on X.

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OpenAI uncovers evidence of AI-powered Chinese surveillance tool

Ben Nimmo, a principal investigator for OpenAI, said this was the first time the company had uncovered an AI-powered surveillance tool of this kind. "Threat actors sometimes give us a glimpse of what they are doing in other parts of the internet because of the way they use our AI models," Nimmo said.

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Top tech and startup stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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GCCs evolve beyond IT, ramp up hiring for specialised tech

Global Capability Centers (GCCs) are evolving beyond IT functions, prioritizing innovation and domain expertise. Hiring for specialised tech roles in BFSI, healthcare, retail, and manufacturing is rising, with a focus on AI, cloud, and automation-driven solutions.

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RBI move to formalise debt collection may complicate recovery, say experts

In a notification issued on January 17, the central bank said transactional calls by banks, mutual fund companies and other such financial service providers should only be undertaken through the ‘160’ series of contact numbers.

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Indian chip buzz catches the eye of specialty chemicals companies

Merck and Linde plan to set up specialty chemicals and gases facilities in India to support semiconductor manufacturing. Their investments signal growing global interest in India’s chip ecosystem, crucial for ensuring supply chain reliability and industry growth.

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Netflix to invest $1 billion in Mexico over next 4 years

Speaking at President Claudia Sheinbaum's morning press conference in Mexico City, Netflix CEO Ted Sarandos said he looked forward to entering more partnerships with producers in the Latin American nation.

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Karnataka Cabinet approves Rs 75 crore seed fund for startups, Rs 79 crore for semiconductor lab

The ‘Beyond Bengaluru Cluster Seed Fund’ subsumes similar seed funds setup earlier for Mysuru, Mangaluru and Hubli- Dharwad and Kalaburagi regions. The fund will target to promote 10,000 startups in regions beyond Bengaluru by 2030.

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New tie-ups in AI, chips, biotech can soften US tariff blow

India’s $254-billion tech outsourcing industry aims to offset US reciprocal tariffs by expanding into AI, semiconductors, and biotech. Bilateral talks and initiatives like TRUST and Mission 500 will drive US-India tech collaboration and trade growth.

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Apple says latest iPhone 16e being made in India

With this, the entire iPhone 16 lineup is now being made locally, Apple said. The company also assembles older models including the base models of the iPhone 15, iPhone 14, and iPhone 13 locally through its contract manufacturers in India.

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Banks, fintechs await UPI subsidy payouts amid cuts in total outlay

Banks and fintech firms are awaiting subsidy payments from the government for promoting digital payments. Despite applications being filed, no funds have been received so far. The subsidy program compensates banks for waived merchant discount rates (MDR).

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MeitY standardises government’s digital footprint with rejigged site launch

The IT ministry launched a revamped website under the new Digital Brand Identity Manual (DBIM) to standardise government digital platforms. Five other ministries will follow, ensuring a user-friendly experience and enhancing trust in government digital services.

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Genpact spending millions to create AI solutions: CEO

Genpact will leverage a combination of autonomous agents with humans in the loop. While Genpact is changing its working model and solution set, the organisation will retain its industry vertical-based internal structure, CEO BK Kalra told ET in an interview.

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Bidders flag end-of-life GPUs offered under IndiaAI Mission

Bidders expressed concerns about Nvidia A100 GPUs, declared end-of-life (EOL), being used in the IndiaAI Mission. They questioned the viability and support for older models, despite their cost-effectiveness, and highlighted potential issues with performance and technical support.

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Lenskart’s IPO plans; Pay hikes at TCS

Happy Monday! Lenskart is gearing up for an IPO that could value the company at twice its previous funding round. This and more in today’s ETtech Morning Dispatch.

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Security concerns push nations away from DeepSeek revolution

Governments worldwide, including Australia, Italy, Ireland, South Korea, and the Netherlands, are cracking down on DeepSeek's R1 AI model. They are concerned by the model's data collection practices, potential for censorship, and risk of sensitive information being shared with the Chinese government.

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Broadcom, TSMC eye possible Intel deals to split storied chipmaker

Broadcom and TSMC are exploring deals to split Intel, with Broadcom eyeing its chip-design unit and TSMC considering its manufacturing plants. Talks remain preliminary, informal, and independent.

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Uptake of technology, scale of population, and local innovation make India an exciting market: Cameron Adams

Adams, who is on his first visit to India, recently told ET that he expects the country to become Canva’s largest market in three to five years. The Sydney-headquartered company has more than 200 million users worldwide.

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Elon Musk's xAI in talks to raise $10 billion at $75 billion valuation

Elon Musk's startup aims to expand its presence in the AI industry by increasing its data centre capacity. Existing investors, including Sequoia Capital, Andreessen Horowitz, and Valor Equity Partners, are in talks to participate in the deal, the report said.

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DeepSeek doesn't scare OpenAI, thanks to the 'Jevons paradox'

Economist and logician William Stanley Jevons, noted that as engines improved and made coal more efficient -- requiring less of the resource to produce the same amount of energy -- demand for coal would actually increase, not decrease. The Chinese company created an AI tool with analytical capabilities rivalling those of Google and Microsoft's OpenAI, and seemingly at a fraction of the cost.

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India’s AI race heats up as entrepreneurs, researchers, and startups vie for IndiaAI Mission funding

India’s AI race heats up as entrepreneurs, researchers, and startups vie for IndiaAI Mission funding. With Rs 1,500 crore support and subsidised GPUs, innovators like Ayush Gupta, Aaditya Kirti, and Sahil Gulati aim to build sovereign AI models.

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Apple to restore TikTok on US app store, Bloomberg News reports

Apple will reinstate the ByteDance-owned TikTok app on its U.S. App Store following a directive from U.S. Attorney General Pam Bondi. U.S. President Donald Trump had previously signed an executive order delaying the enforcement of a ban on the app.

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‘Google’s US DEI rollback unlikely to hit other markets’: Senior Google policy executive

Google’s DEI rollback is US-specific, not global, says executive. He highlights AI’s potential in India, the need for aligned data laws, and balanced AI regulation. PM Modi’s US visit underscores technology’s growing role in strengthening India-US ties and collaboration.

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Mature nodes more viable for fabless sector in India: Marvell India manager Navin Bishnoi

The Santa Clara-headquartered company with $5.5 billion revenue has three R&D centres in India and is looking to double its capacity at its Bengaluru office this year to ensure that growth is managed both in terms of headcount as well as capability, Navin Bishnoi, Marvell’s India country manager, told ET.

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Micron seeks partner to construct Phase-2 of Sanand chip plant

Micron Technology is inviting bids for Phase 2 of its Sanand, Gujarat semiconductor facility, with L&T and KEC International among contenders. Phase 1, initially set for 2024, now targets early 2025 completion.

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YouTube is the new TV: CEO Neal Mohan spells out company’s 2025 bets

CEO Neal Mohan said YouTube should be seen as “next-generation studios” and highlighted that the YouTube Partner Program has paid out over $70 billion to creators, artists, and media companies in the past three years.

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ToneTag secures $78 million in mix of primary, secondary capital

The Bengaluru-based digital payments startup bagged the funding from stock market veteran Ravi Dharamshi’s PE fund ValueQuest Scale Fund and VC fund Iron Pillar. Existing investor Elevate Capital also participated. Strengthened by the fresh funds, the company aims to scale operations in India and go global too.

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AI mission GPU tender bidders asked to match L1 prices by February 12

Given that the bids are very competitive, companies will see the market uptake of graphics processing unit (GPU) models and then plan their investment and inventory accordingly, said some of the bidders.

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Microsoft, Nvidia, the tech giants taking a quieter approach to Trump

Nvidia and Microsoft take different approaches to navigating Washington's politics. While Microsoft is experienced in lobbying, Nvidia is a newcomer, rapidly growing due to its dominance in AI chip manufacturing.

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Transforming governance with a unified AI stack

As AI rapidly advances, organisations need an integrated AI stack for business transformation. This stack includes compute infrastructure, data, model development, and applications. The government’s IndiaAI Mission could create a digital public infrastructure (DPI) to provide seamless services, foster innovation, and prevent resource duplication while promoting AI development in India.

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Bumpy ride: Auto industry stuck with excess semiconductor stock post-pandemic

Chip sales in the auto sector skid as the post-pandemic frenzy turns into an inventory glut. With tapering of sales and other expected challenges, the industry isn’t prepared to get out of second gear.

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Top startup and tech stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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ChrysCapital, others in talks to take Dhan to unicorn club with $100-150 million funding

Stock trading platform Dhan is negotiating with ChrysCapital for funding that could increase its valuation to over $1 billion, helping it expand into financial services and compete with rivals like Groww and Zerodha.

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DeepSeek’s rise proves disruption no longer reserved for richest players: Niti Aayog paper

NITI Aayog’s paper highlights China’s DeepSeek as a disruptive AI leader, urging India to seize the opportunity for innovation and ethical AI development, positioning itself as a global AI disruptor and advocate for responsible AI.

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French President Emmanuel Macron says AI should not be 'Wild West'

Development of artificial intelligence (AI) should not be an unregulated "Wild West", French President Emmanuel Macron said Friday ahead of a global summit on the technology in Paris. "AI can't be the Wild West," Macron told French regional newspapers including Ouest-France and Le Parisien in advance of the gathering of global political and tech industry leaders on Monday and Tuesday.

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Flipkart’s fast lane frenzy; Zomato’s going Eternal

Happy Friday! Flipkart is doubling down on its quick commerce play ahead of its flagship Big Billion Days event. This and more in today’s ETtech Morning Dispatch.

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Perfios acquires fraud detection platform Clari5

Perfios acquired fraud detection platform Clari5 to enhance its fraud management capabilities. Clari5, with 200 employees, becomes a Perfios subsidiary. This acquisition strengthens Perfios' product offering and expands its global presence in the banking sector.

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Flipkart Minutes eyes 550 dark stores before ‘Big Billion Days'

Flipkart plans to expand its quick commerce segment by launching 500-550 dark stores before its Big Billion Days sale, aiming to challenge rivals like Blinkit, Zepto, and Swiggy Instamart, with a goal of 300 stores by March 2025.

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Infosys to roll out annual hike letters before end of March

“Those falling at and below job level five (JL5) will receive hikes with effect from January 1 and those at job level six (JL6) and above will get the revised pay from April 1,” chief human resources officer Shaji Mathew told employees in a townhall at the Infosys campus in Bengaluru, the people said.

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Cashfree secures $53 million from Krafton, Apis Partners

The funds will be used to scale up its products, invest in new payment infrastructure projects and push its D2C brands. The online merchant payment startup last raised a major funding of $2.7 million from SBI in 2021. To date, it has raised $44 million.

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Banks to take on fintechs with feature-packed merchant apps

Fintech firms like BharatPe and Paytm face increasing competition from banks such as HDFC, ICICI, Axis, and SBI, which are launching merchant-focused platforms. Banks aim to regain market share by offering payments, loans, and banking services with higher compliance.

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Experts flag APAAR risks as institutes push enrollment

Experts raise privacy concerns about the centralised APAAR student ID database, questioning its efficacy in obtaining verifiable parental consent under the DPDPA. While some see APAAR as a solution for streamlining consent, others highlight the lack of clear data protection guidelines and potential vulnerabilities of such a large repository.

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Sops, DeepSeek drive local firms to work on foundation AI models

The government’s subsidised common compute facility and opening for grants and funding under the IndiaAI Mission have also spurred energy among startups seeking capital.

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Centre’s tax clarity on VC asset sales to reduce litigation

Previously, the reading of the Income Tax Act led to proceeds from exits to be considered business income for domestic alternative investment funds (AIFs), leading to these firms paying income tax.

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Generative AI's environmental impact in figures

The surge in generative artificial intelligence (AI) is being met with growing fears about the technology's ecological footprint, one of the top questions up for discussion at a global summit in Paris on February 10-11. GPT-3 requires around half a litre (one pint) of water to generate between 10 and 50 responses, according to a conservative estimate from researchers at the University of California Riverside and University of Texas at Arlington.

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NATA 2025 registrations to start from this date: Check important details here

The Council of Architecture will begin NATA 2025 registration on February 3 at nata.in. The exams will be held from March 1 to June 2025. On Fridays, there will be a single shift (1:30 PM–4:30 PM), while on Saturdays, exams will be conducted in two shifts (10:00 AM–1:00 PM & 1:30 PM–4:30 PM).

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President Trump to meet with Nvidia CEO Jensen Huang at the White House

Nvidia had loudly protested a last-minute move by the Biden administration in January to expand AI chip restrictions beyond adversaries like China to more than 100 other countries, including Singapore. But it remains to be seen if Trump will follow through with or drop those proposed rules.

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OpenAI launches o3-mini, its latest AI reasoning model

Sam Altman, OpenAI’s chief executive, announced the launch on X, calling it a “smart, fast model” available on both ChatGPT and the API.

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Top startup and tech stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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‘India AI mission GPU hourly pricing aggressively low’

India's AI mission GPU tender saw aggressive bidding, with average prices at Rs 115.85 per GPU hour, far below the global average of $2.5-3. Bidders like Jio, E2E, NxtGen, Locuz, and CtrlS quoted low rates, raising concerns among competitors about global clients demanding similar pricing.

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India preps low-cost AI push; PB Fintech’s financials

Happy Friday! The government formally began its push to build a foundational AI model on Thursday. This and more in today’s ETtech Morning Dispatch.

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‘Budget champ India can pull another DeepSeek on global AI': Vishal Sikka

Vishal Sikka, former CTO of SAP and CEO of Infosys, in an exclusive interview with ET, urges India to actively participate in the AI race, not just build applications but also develop foundational and sovereign models. He emphasizes the importance of local data and languages, citing DeepSeek's cost-effective approach. Sikka highlights AI's current limitations, particularly energy inefficiency, while acknowledging India's resource-constrained innovation capabilities.

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Footwear startup CHK raises $2.5 million from Accel, Bluestone, others

DealShare cofounder Sankar Bora’s company, based in Bengaluru, will deploy the funds to boost output and bolster R&D in the run-up to its public launch in April.

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Tata Electronics goes tech talent fishing in Intel pool

Tata Electronics, on an expansion spree, is aggressively hiring senior talent, particularly from Intel. Former Intel executives like Reda Masarwa and Randhir Thakur (now Tata Electronics CEO) are leading this charge. The company aims to build a strong team for its ambitious projects, including new factories and semiconductor manufacturing facilities.

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Rural fintechs seek government fund to upgrade last-mile tech infrastructure

Fintech startups and business correspondents serving rural areas seek Rs 500 crore in equity funding from the government to upgrade technology. This fund, potentially structured like the IMEF, would support services like remittances and Jan Dhan accounts. The request comes amidst a funding winter and seeks to improve last-mile financial inclusion.

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Rupee and dollar movement to keep IT margins on edge

The rupee's recent depreciation against the US dollar has boosted Indian IT companies' profitability in Q3 2024. However, the unpredictable movement of other currencies like the euro and pound, coupled with rising operational costs and visa challenges, pose significant risks. While a weaker rupee offers short-term gains, it also complicates hedging strategies and long-term planning.

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DeepSeek says its Janus Pro AI model beats rivals in image generation

The new model is an upgrade over Janus, which was launched late last year and comes on the heels of DeepSeek launching a new assistant based on the DeepSeek-V3 model that has become the top-rated free application on Apple's App Store in the United States.

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Indian defence, space startups eye US market

The startups from the domains of space, remote sensing and other critical technology are invited to participate in the India to America (I2A) Launchpad programme to seize an opportunity to build partnerships, contracts, and funding that can shape their next few years.

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Google pushes global agenda to educate workers, lawmakers on AI

As Google races to best Big Tech rivals including Microsoft-backed OpenAI and Meta in the AI arena, it is mindful of the heavy regulatory scrutiny it faces in its existing businesses in advertising and search.

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Conflict of generations: Bridging generational gap in workforce

Tech companies are addressing the generational gap in the workforce, as offices now feature Baby Boomers, Gen X, Millennials, and Gen Z. Companies like Infosys, Capgemini, and Mphasis are implementing strategies such as mentorship programmes and reverse mentoring to foster communication and collaboration. These efforts aim to boost innovation, employee engagement, and retention.

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Meta tests ads on Threads, its alternative to X

Facebook's parent company, Meta, is testing ads on its new social network, Threads. The ads debut amid Meta's recent content moderation changes and the end of its US fact-checking program. With TikTok's uncertain future, Meta is poised to attract brands seeking alternatives, though user reactions may be mixed.

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Top startup and tech stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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Meet ‘Operator’, a web-enabled AI agent that performs tasks for You

OpenAI's Operator is an AI agent that automates web tasks like ordering food, scheduling appointments, and creating memes. It uses GPT-4o and reinforcement learning to understand and interact with websites, improving user productivity. Currently in research preview for US Pro users, Operator will expand to other user tiers and regions soon.

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FMCG’s ecommerce push; Govt targets financial fraud

Happy Friday! Consumer firms are betting big on their own ecommerce platforms. This and more in today’s ETtech Morning Dispatch.

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FinMin wants banks to complete I4C integration by January to check frauds

The finance ministry wants government-owned banks, including the State Bank of India, to integrate directly with the Indian Cybercrime Coordination Centre (I4C) to control the growing problem of financial fraud.

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Meta backs data analytics firm Databricks as AI boom attracts investors

Companies, including Meta, have been investing heavily to build and train large language models (LLMs) such as ChatGPT, which are advanced AI systems designed to understand and generate human-like text.

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Birthright citizenship ban may drive global talent away: Can America afford the gamble that Trump played?

The U.S. faces a talent crisis, exacerbated by Trump's birthright citizenship ban targeting immigrant families. Immigrants, vital to STEM, healthcare, and manufacturing, drive innovation and economic growth. With tech, engineering, and manufacturing shortages looming, the ban risks alienating global talent, undermining America’s competitiveness. Revoking this policy is crucial to sustaining the workforce fueling the nation’s success.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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DeHaat acquires farm advisory platform AgriCentral

AgriCentral, serving over 10 million smallholder farmers, will help DeHaat enhance its digital services and broaden its reach. This acquisition brings DeHaat’s total to seven businesses, including Vezamart, Farmguide, Helicrofter, YCook, FieldFresh Foods, and Freshtrop Fruits. DeHaat offers farmers direct market access, quality inputs, expert agricultural advisory along with exports.

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Aakash’s backers slam AoA tweak plan at NCLT

Senior advocate Darius Khambata, representing the minority shareholders, said that these articles are legally binding and would take precedence over any agreement between the shareholders.

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GCCs may align pay almost at par with IT companies to optimise costs

Sluggish hiring activity in the IT services sector has seen a cooling down in the talent competition over the past six quarters, causing a 30-40% moderation of the premium value paid by GCCs, said Kedar Pathak, GCC specialist, Xpheno. Certain mid-senior level tech roles, where 16-20% premium pay were in play, have moderated to 10-12% premiums, he said.

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Trump education overhaul could slash $55M in funding, hitting Lancaster County schools hard: What it means for teachers and students

President-elect Donald Trump's plan to eliminate the U.S. Department of Education could lead to a $55 million loss in federal funding for Lancaster County schools. This would significantly affect resources for low-income and special needs students. As funding for essential programs like Title I is cut, schools are left to face the challenge of maintaining services with reduced budgets. Local educators and advocates are concerned about the immediate and long-term impact on education.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Edtech firm Brightchamps buys K12 marketplace Edjust

With this buyout, GSV Ventures-backed Brightchamps has acquired four companies, including Education10x, a financial literacy education platform for children, in 2021; Schola, a live learning platform for kids, in 2022; and Metamorphosis Edu, which trains students in skills linked to entrepreneurship, in 2023.

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Perplexity AI bids to merge with TikTok US: Reports

The new structure proposed by Perplexity would allow for most of ByteDance's existing investors to retain their equity stakes and would bring more video to Perplexity, the report said, citing an unnamed source familiar with the situation.

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Sun, moon and the starts: India's space startups ready for 2025

Sky is the limit for Indian space startups in 2025, as they focus on attracting more funding, tap global markets and drive more real-time applications. Indian space startups are optimistic about the revised foreign direct investment (FDI) policy, which aims to unlock more capital for growth. Yashas Karanam, cofounder of Bellatrix Aerospace, said the revised FDI norms clarify exit strategies, allowing investors to freely sell shares and thus attract international funding.

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Top startup and tech stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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Fintechs shun quick credit as RBI cracks down on unsecured loans

The advance salary product was designed for working professionals to take an instant personal loan for about a month, similar to a salary advance. It allowed employees to receive an amount equivalent to half their salary mid-month, and to repay it once the salary is credited.

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Battery makers are charging up; Amazon to acquire Axio

Two major battery manufacturers have plans to set up plants in India. This and more in today’s ETtech Morning Dispatch.

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LGES, Panasonic Energy rev up India battery plant plans

LG Energy Solution (LGES) and Panasonic Energy, two of the largest battery manufacturers globally, are accelerating their plans to set up production facilities in India. LGES supplies EV batteries to Tesla, General Motors, Hyundai, and Indian e-scooter makers like Ola Electric and TVS Motor, while Panasonic Energy is among Tesla’s largest suppliers of batteries.

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Oracle’s four India partners may fail to make AI mission cut

This may hinder the American cloud company's ability to empanel with the much-coveted Mission to offer AI compute capacity in India through public-private partnership and bid for future projects.

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Zepto's annualised gross order value touches $3 billion, up three times in 8 months

GOV is the total value of orders received over a certain period of time, including the total amount of sales, before any discounts, returns, or cancellations.​​

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Consumer brands’ funding ride keeps deal street busy

Venture funds are sitting on ample dry powder and will accelerate deal-making in early-stage startups. Funds like Accel, 3One4 Capital, Peak XV Partner, Lightspeed Venture Partners and others are on the hunt for new deals across sectors and themes.

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Google-backed Pixxel launches Fireflies, India’s first private satellite constellation

The startup intends to deploy 18 satellites in its constellation to deliver essential climate and Earth insights to industries worldwide. These indigenously developed satellites were integrated through SpaceX’s Exolaunch and launched aboard the Transporter-12 rideshare mission from Vandenberg Space Force Base in California. They will orbit at approximately 550 km in a sun-synchronous orbit.

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Aditya Birla-backed Digantara takes flight onboard SpaceX’s rocket, system to monitor and detect objects

Digantara launched its SCOT satellite aboard SpaceX’s Transporter-12 mission to enhance space safety and track Resident Space Objects (RSOs). The world’s first commercial Space Situational Awareness (SSA) satellite, will monitor Low Earth Orbit (LEO) with improved efficiency. Backed by Aditya Birla Ventures and SIDBI, it aims to support national security and space operations.

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Electric two-wheeler startup BGauss raises Rs 161 crore from Bharat Value Fund

The funds will be used to expand the Pune-based company’s presence in India and overseas, meet capital expenditure requirements, marketing, and enhance in-house R&D for upcoming product launches. BGauss, which has raised Rs 161 crore from Bharat Value Fund, aims to scale its dealership network and manufacturing capacity as demand increases.

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UGC NET December 2024 admit card for all exams released at ugcnet.nta.ac.in: Check direct link here

NTA has issued admit cards for the UGC NET December 2024 session on its official website, ugcnet.nta.ac.in. The exams will be held online from January 3 to 16, 2025. Candidates must check their admit cards for discrepancies and contact NTA officials immediately for corrections, if required. Candidates can check the direct link here.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Ather IPO valuation bump; TCS CEO on Q3 numbers

Ather Energy is aiming at $2.4 billion for its upcoming IPO. Details on this and more in today’s ETtech Morning Dispatch.

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Flipkart may lead $35-40 million round in its Super.money

Super.money, started by Flipkart senior executive Prakash Sikaria, is among the big focus areas at Flipkart for its financial services and lending business and has emerged as one of the fastest growing Unified Payments Interface (UPI) apps.

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SpaDeX: ISRO brings satellites within three metres in trial attempt

ISRO successfully performed a trial attempt of moving two small satellites within three meters for future in-space docking experiments. Further analysis will be conducted before the docking process. This SpaDeX project aims to position India among leading nations in mastering in-space docking technologies, essential for ambitious space goals.

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Tech sector's energy transition draws attention at Vegas show

Data centers accounted for 4.4% of US electricity needs in 2023, which is likely to rise to 12 percent by 2028, according to the US Department of Energy. Gary Shapiro, chief executive of the Consumer Technology Association, which organises CES, said energy transition was intended to be "a big focus" of this year's show.

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Hyperscale data centres promise to transform computing in the age of AI

Traditional data centres function like shared office spaces, providing limited resources to multiple businesses. In contrast, hyperscale data centres are large-scale facilities built to support the immense computing needs of tech enterprises. Hyperscale data centres are built for rapid scalability, allowing them to swiftly add or remove servers and storage to accommodate fluctuating demands without disrupting services.

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President Biden blasts 'shameful' Meta decision to scrap US fact-checking

US President Joe Biden criticised Meta for ending fact-checking on Facebook and Instagram in the US. He called it shameful. Meta's decision aims to turn fact-checking over to users with Community Notes. The International Fact-Checking Network warned of global harm if Meta expands this policy. Meta's decision comes as President-elect Trump prepares to take office.

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IGNOU December 2024 term-end exam results declared: Check direct link here

IGNOU has announced the December 2024 Term-End Examination (TEE) results. Students of UG, PG, diploma, and certificate courses can check results on ignou.ac.in by logging in with their enrollment number. As per the information, the exams were held from December 2, 2024, to January 9, 2025, in both online and Open and Distance Learning (ODL) modes. Candidates can check the direct link here.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Top startup and tech stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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Supreme Court skeptical toward TikTok arguments against looming US ban

Supreme Court justices expressed scepticism towards TikTok and ByteDance's challenge to a law mandating the app's sale or ban by January 19 in the US, citing national security concerns. The case examines free speech rights and potential Chinese government exploitation of TikTok for espionage. TikTok argues the law targets speech, while the government emphasizes data protection and security.

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Meta’s fact-checking decision sets off alarm bells in India

The decision will hurt social media users looking for accurate, reliable information to make decisions about their everyday lives and interactions with friends and family, Angie Drobnic Holan, the director of International Fact-Checking Network said in a post on LinkedIn.

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What is Community Notes and how does it differ from content moderation?

Community Notes was launched in 2021 as Birdwatch. It allows users to add context to posts that may be misleading, lack important details, or need more explanation. Content moderation, though designed with good intentions, has become increasingly complex, often resulting in mistakes that stifle free expression.

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Swiggy’s standalone app Snacc: Here’s all you need to know about it

Swiggy introduced a new app called Snacc for delivering food in 10 minutes. It competes with delivery services from Zomato, Blinkit, and Zepto. Different companies use various models for quick food delivery, including dark stores and restaurant deliveries. The overall market for rapid food delivery is expanding with multiple players entering the space.

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Fintech startup AtoB to open Bengaluru R&D centre, expand global footprint

Founded in 2019, AtoB sees major opportunity in modernising payments for the $1 trillion commercial fuel and transportation industry, particularly trucking. It partners not only truckers and small businesses but major banks as well as oil and gas companies, building a digital infrastructure to bring them together, cofounder and CEO Vignan Velivela said.

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D2C beauty company Wow seeks strategic buyer at a lower $250 million valuation

Wow Skin Science, valued at around $400 million, is seeking a strategic buyer at a reduced valuation of $250 million as investors look to exit. The brand faces slowing growth amid tough competition in India's D2C beauty market, sparking industry consolidation with other brands exploring similar options.

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Entrepreneurial dreams powered by AI

Scores of Indian startups are building AI-driven tools and solutions to solve real-life problems. ET delves deep into these ventures figuring out the excitement as well as the challenges.

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Experts wary of data panel curveball on Big Tech, social firms

Legal experts are worried about proposed rules that could restrict sending personal data abroad. The Indian government assures the new data rules do not require data localisation. However, compliance costs and potential trade barriers are concerns. Age-gating using school databases is commended but poses challenges. Parental consent requirements for children under 18 could affect social media and gaming companies.

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Jeff Bezos's Blue Origin poised for first orbital launch next week

The NG-1 mission will carry a prototype of Blue Ring, a Defense Department-funded spacecraft envisioned as a versatile satellite deployment platform, which will remain on board the rocket's second stage for the six-hour test flight. It will mark Blue Origin's long-awaited entry into the lucrative orbital launch market after years of suborbital flights with its smaller New Shepard rocket, which carries passengers and payloads on brief trips to the edge of space.

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Special agents: The future of AI and automation

Tech giants are moving fast to develop and deploy AI agents, which are pegged to be the “next big thing” in 2025. They gobeyond the limited capabilities of LLMs and offer more end-to-end, action-based solutions. Agent frameworks can reason, plan, and execute, driving the convergence of automation and GenAI to create autonomous systems for complex business tasks.

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Zepto plans IPO filing by March-April; Singapore nod in for moving domicile

Zepto is preparing to file for an IPO by March-April 2025 and has received approval to move its holding entity from Singapore to India. The company is also finalising independent directors and deliberating on IPO size and bankers. It aims to become the first independent quick commerce firm to go public amid scrutiny over local FDI compliance.

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Planning to study in the US? 5 challenges Indian aspirants need to worry about

Indian students seeking education in the U.S. face significant hurdles beyond academic challenges. From securing student visas amid stricter regulations to grappling with high tuition costs and uncertain work opportunities under changing H-1B and OPT policies, the journey is tough. Furthermore, cultural tensions and rising backlash against Indian Americans add complexities to their pursuit of the American Dream.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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IndiaAI mission to offer GPU resources to second EoI participants: COO Kavita Bhatia

AI Research Analytics and Knowledge Dissemination Platform, is India's largest and fastest AI supercomputer. “We’re also in the process of bringing more than 10,000 GPUs as and when it comes up. Even that can be made available based on the eligibility criteria and certain other conditions that need to be fulfilled so that you can get access to the compute,” Kavita Bhatia, COO of IndiaAI mission under the ministry of electronics and IT (Meity), told potential participants on Thursday.

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AP government eyes top talent for investment promotion body

N Chandrababu Naidu's return as Andhra Pradesh's CM has sparked renewed competition among southern states to attract investment. The state is reviving its Economic Development Board, actively hiring professionals for various roles to enhance investment promotion. This move aims to re-establish Andhra Pradesh as a key destination for large-scale investments despite its current challenges.

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