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Tuesday,30-November-2021

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Nirmala Sitharaman joins leaders of tomorrow at IIM Ahmedabad for interactive session

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Nirmala-Sitharaman

The Indian Institute of Management Ahmedabad (IIMA), welcomed Finance Minister of India, Nirmala Sitharaman as she joined MBA students of the globally recognized, premier management institute, for an interactive session on the theme ‘The Economic Rebound and the Indian Economy in 2021 and Beyond with its students.

Hosted by IIMA’s JSW-School of Public Policy, was the first on ground event held at the Institute since the pandemic. The session threw light on various aspects of the Indian economy including return of consumer confidence, robust financial markets, an uptick in manufacturing, education sector and the decrease in the budget allocation this year, PSU disinvestment target, health expenditure, skill India, fuel prices reduction, savings and borrowing scheme, upskilling: for automation and gig workers, investment in infrastructure, agriculture and many more.

Speaking on the occasion Prof. Errol D’Souza, Director, IIMA Programmes said, “It is our honour and an encouragement to have the Finance Minister, Nirmala Sitharaman at the Institute. We are grateful for her presence, in spite of her commitments. I am happy to share that IIMA and its faculty have been supporting the government with their expertise on various aspects of policymaking, which is our way of contributing to the growth of the country. Today’s interaction with the Hon’ble Minister will become a memorable and inspiring moment for our students, who are at the threshold of beginning their journey into the real world.”

Sitharaman is an inspiration for all, especially the young people of the country. As the first woman leader to hold the portfolios of Defence and Finance at the Centre, she has become an aspirational model for the young women in the country. During the session, the Finance Minister encouraged the students to expand their boundaries and said, “You all are fortunate enough to be in an institution like this [IIMA]. My only request to you is spare sometime for the country and the nation to get stronger. India needs your support. Concentrate on yourself but also concentrate on making India brighter and smarter”

Acting as co-chairs, Prof. Errol D’Souza, with IIMA students Arunabh Saxena and Sonakshi Agrawal, among other points discussed about disinvestment targets of PSUs and government’s approach towards it. They also addressed the concerns of consumers bearing the high costs of fuel today and how is the government resolving these challenges.

When asked about the rationale and steps taken by the government to ensure quality education, Sitharaman said, “That the desire for encouraging twinning programmes in hopes of getting a world class university certificate and technologically driven tools like optical fibres even at the panchayat level will add to the betterment of education in the country. Hence there has been a conscious attempt in improving the funding of education. I would want to underline the fact that the New Education Policy, the schemes under it, and the long term vision under which the NEP looks at making the Indian education a lot more vibrant has received due consideration in the budget making process.”

Sitharaman further addressed that the Indian economy was on a rebound and she expects to see an economic recovery in the coming year. While the budget gave a due consideration to the national education policy and its schemes, she also believes that there is a huge potential of digital learning in the country across states, especially for the ones who have lesser access to it. She also threw light on the need for skilling and up skilling across industries and its success rates with a focussed approach.

The institute has a unique model of a convivial combination of the union, state and the business community. IIMA research programmes are the most coveted and prominent in the areas like Strategy, Economics, Finance, Operations and Marketing. IIMA also set up a number of sector or mission-oriented thrust groups termed ‘Centres’ to apply management science to other sectors of the economy. These Centres are led by faculty members from different inter-disciplinary areas that come together to pursue research and consulting.

Business

Samsung unveils new auto chips for high-end cars

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Samsung Electronics on Tuesday unveiled three new automotive chips as demand for advanced chips is growing among global carmakers to produce cars with better connectivity and more sophisticated infotainment features.

The South Korean tech giant said its latest chip products are designed to enable faster 5G connectivity needed for downloading high-definition video content, immersive in-car infotainment systems and a stable power supply.

“Smarter and more connected automotive technologies for enriched in-vehicle experiences, including entertainment, safety and comfort, are becoming critical features on the road,” Park Jae-hong, executive vice president of the company’s System LSI Custom SOC Business, said in a statement.

Among the three, the Exynos Auto V7 in-vehicle infotainment system is installed in Volkswagen’s latest In-Car Application-Server (ICAS) 3.1, developed by LG Electronics’ vehicle component solutions division, the company said.

The chip comes with a neural processing unit “for convenient services, such as virtual assistance that can process visual and audio data for face, speech and gesture recognition features.”

Samsung has ramped up efforts to develop advanced chips for cars, a market that has grown significantly in recent years fueled by higher levels of car electrification and a further uptake in electric vehicles, reports Yonhap news agency.

More cars are now being equipped with advanced features like artificial intelligence and 5G-based telecommunications.

London-based research firm IHS Markit forecast the global market for automotive semiconductors to grow 7 percent annually to reach $67.6 billion in 2026.

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Go Fashion shares listed 90% over issue price on debut

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Shares of Go Fashion made its debut on the exchanges on Tuesday with a premium of 90 per cent over its issue price of Rs 690 at Rs 1,316.

On the listing day, the shares of the company settled at Rs 1,250.

“As the number of working women is increasing along with evolving fashion trends, it is expected that the company can have a strong growth momentum,” said Santosh Meena, Head of Research at Swastika Investmart.

“The company has a strong management team with a mixed bag of financials and it is expected that it may perform well,” Meena added.

The investors who got the allotment can put a stop loss of Rs 1,000 and hold the stock with a long-term view, while safe investors can book the profit and wait for new buying opportunities at the lower levels, Meena added.

Founded in 2010, Go Fashion is a women’s wear brand.

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India to see 500 mn 5G mobile subscriptions by 2027: Report

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The 5G technology will represent around 39 per cent of mobile subscriptions in India at the end of 2027, estimated at about 500 million subscriptions, a new Ericsson report said on Tuesday.

The number of smartphone subscriptions is expected to be 810 million at the end of 2021 and is projected to grow at a CAGR of 7 per cent, reaching over 1.2 billion by 2027 in the country, according to the mobility report by Swedish telecommunication giant Ericsson.

The average traffic per smartphone in the India region is the second-highest globally and is projected to grow to around 50GB per month in 2027.

“Total mobile data traffic in India has grown from 9.4 EB (exabyte) per month in 2020 to 12 EB per month in 2021 and is projected to increase by more than 4 times to reach 49EB per month in 2027,” the report projected.

According to Nitin Bansal, Head of Ericsson India and Head of Network Solutions for South east Asia, Oceania and India, Ericsson, 5G will serve as a socio-economic multiplier for the country.

“We are preparing the communication service providers for a seamless introduction of 5G in the country based on our global deployment experience , our innovative and competitive 5G portfolio as well as the 5G trials we are doing with Indian operators to showcase the possibilities with 5G,” Bansal said in a statement.

In the India region, 4G is expected to remain the dominant technology in 2027, however the 4G subscriptions are forecast to drop from 790 million in 2021 to 710 million in 2027, showing an annual average decline of 2 per cent.

The reliance on mobile networks to stay connected and work from home has contributed to the average traffic per smartphone increasing to 18.4GB per month in 2021, up from 16.1GB per month in 2020.

The average traffic per smartphone in the India region is the second-highest globally and is projected to grow to around 50GB per month in 2027, the report mentioned.

Ericsson recently carried out 5G trials with Airtel and Vi, where it demonstrated enhanced mobile broadband and Fixed Wireless Access (FWA) use cases with 5G.

Globally, there has been almost 300-fold increase in mobile data traffic since 2011, the report noted.

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