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OpenAI enables local data storage in India and key Asian markets
Economic Times
·
3m ago
Medial
OpenAI has launched data residency options in India and other Asian countries such as Japan, Singapore, and South Korea. This enables local storage of data from users of ChatGPT Enterprise, ChatGPT Edu, and OpenAI API, addressing data sovereignty needs. By allowing organizations to store data locally, OpenAI supports compliance with local regulations. The initiative reflects India’s significance as OpenAI’s second-largest market, with a tripled user base over the past year.
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Data centre ecosystem to attract over Rs 45,000 crore investment by 2026: report
Economic Times
·
1y ago
Medial
The Indian data centre industry is expected to attract investments exceeding Rs 45,000 crore and witness its existing data capacity doubling over the next three years, as per a report by Crisil. The demand for data and storage, along with long-term contracts, is driving this growth. Mumbai, NCR, Chennai, Hyderabad, and Pune are the key cities that will benefit from these investments. The report also highlights the importance of operational and technical expertise to meet service agreements. The rise in demand for cloud solutions and OTT platforms, along with regulatory focus on local data storage, are major factors driving this growth.
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India a top priority market for KKR’s Asia infra play
Livemint
·
1y ago
Medial
Global investing firm KKR is planning to allocate a significant portion of its newly raised $6.4 billion pan-Asian infrastructure fund to India. The country's strategic importance aligns with KKR's global infrastructure investment strategy. KKR has already invested over $3 billion in Indian projects since 2019 and expects to continue at a similar pace. The firm aims to diversify its portfolio in India, focusing on power transmission assets, renewable energy platforms, highway networks, decarbonization efforts, and logistics. Infrastructure remains a key growth area, with a cumulative investment of $10 billion in India. KKR is also exploring opportunities in battery storage infrastructure.
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Snowflake launches Cortex Agents to enhance AI data retrieval and decision-making for enterprises
YourStory
·
5m ago
Medial
Snowflake has introduced Cortex Agents, enhancing its AI capabilities to streamline data retrieval for enterprises. These agents optimize both structured and unstructured data access, facilitating AI-driven insights. Alongside, Cortex Analyst enables text-to-SQL queries, improving data handling. While managing complex data retrieval is challenging, Cortex Agents ensure secure, efficient processing, benefiting customers like Siemens Energy and Bayer. Snowflake anticipates significant adoption in tech-savvy markets like India, leveraging AI for business intelligence and productivity enhancements.
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Coffee exports up 125 pc to $1.8 billion in last 11 years: Govt data
Economic Times
·
1m ago
Medial
India's coffee exports have risen by 125% to $1.8 billion over the past 11 years, driven by initiatives from the Coffee Board of India. Key strategies include digital certification processes, market intelligence sharing, and financial support for value-added products and export expansion to new markets. The country's main coffee production states are Karnataka, Kerala, and Tamil Nadu. India is the seventh largest global coffee producer, with exports primarily to Europe and several Asian countries.
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India's digital businesses are innovating faster with Data + AI, says Databricks founder
Economic Times
·
1m ago
Medial
Databricks founder Ali Ghodsi highlighted that India's digital businesses are leading in AI innovation, surpassing global counterparts. The company is investing $250 million in India for R&D, talent development, and AI adoption, focusing on Bangalore and targeting IITs for talent. Databricks is optimistic about Asian markets due to relaxed regulations. The company unveiled key initiatives like "Agent Bricks" for AI agent optimization, "Lakebase" database, and free Databricks access to bridge the AI talent gap.
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Energy analytics company iRasus Technologies raises seed round
Entrackr
·
10m ago
Medial
Energy analytics company iRasus Technologies has raised Rs 4 crore in a seed round co-led by Rohit Rajput and Srikar Reddy of IAN Angel, with participation from DFAN and other angel investors. The funds will be used to expand its product and engineering teams and accelerate business growth across India, the company said in a press release. Founded in 2019 by Arjun Sinha Roy, iRasus specializes in providing analytics and intelligence on battery data for users in electric mobility and stationary battery storage solutions. The company aims to deliver crucial data intelligence for users transitioning away from fossil fuel-based energy solutions. iRasus addresses the increasing demand for efficient integration of battery data into electric mobility and renewable energy storage solutions, focusing on scale, reliability, and affordability. Its flagship platform, Preksha, enables real-time battery management through predictive maintenance and comprehensive data analysis, helping users reduce costs, improve safety, and optimize battery usage. This insight is particularly valuable for sectors such as electric buses, fleet operators, and stationary battery users, allowing them to enhance performance, extend battery lifespan, and improve safety. Based in Gurugram, iRasus plans to connect with battery manufacturers, fleet operators, OEMs, renewable energy storage providers, telecom operators, and other users of battery storage systems.
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RBI plans 2025 launch of cloud services, countering dominance of global firms
Economic Times
·
8m ago
Medial
The Reserve Bank of India (RBI) is planning to launch a pilot programme in 2025 that will provide affordable local cloud data storage to financial firms. The RBI's cloud platform will be developed in partnership with local IT firms and aims to compete with global players like Amazon Web Services and Microsoft Azure. The Indian cloud services market is rapidly growing, estimated to reach $24.2 billion by 2028, but is currently dominated by foreign firms. The pilot programme will focus on the needs of smaller banking and financial services firms.
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Rupee gains alongside Asian peers as US policy worries trouble dollar
Economic Times
·
1m ago
Medial
The Indian rupee strengthened against the U.S. dollar alongside most Asian currencies, driven by concerns over U.S. fiscal policies and trade deal uncertainties, which weakened the dollar. The rupee rose 0.3% to close at 85.52 per dollar but remained rangebound due to local bank activities. Asian currencies gained slightly as the dollar index hit its lowest since February 2022. The redistribution of global portfolio flows is expected to benefit Asian economies like India and Indonesia.
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GPay UPI circle, more languages in Gemini: key takeaways from ‘Google for India’
Economic Times
·
10m ago
Medial
- Google is expanding the Gemini AI model to support more local languages in India. - Google AI Overview is now accessible in Bengali, Telugu, and Marathi. - Real-time updates on Google Maps will include reports and alerts for flooding and fog conditions. - Google Pay introduced the UPI circle feature, allowing users to request payments on behalf of others. - Google is expanding its data storage initiative, Gemini 1.5 Flash, to allow companies in India to store data locally. - Google announced an AI-powered tuberculosis and cancer screening tool for Indian hospitals, available for free for the next decade.
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Asian Paints Q4 profit up 45%
Livemint
·
1y ago
Medial
Asian Paints reported a 45% increase in its net profit for the fiscal fourth quarter, driven by higher volume and value in its decorative and non-automotive industrial paints business. Net profit rose to INR 1,234.14 crore from INR 850.4 crore a year earlier. The company's consolidated revenue from operations also increased by 11% to INR 8,787.34 crore. Asian Paints' profit for the full financial year surged 35.5%, while net sales grew by 18.5%. The company's international sales declined due to economic uncertainty and liquidity issues in key markets.
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