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OpenAI enables local data storage in India and key Asian markets

Economic Times

Economic Times · 3m ago

OpenAI enables local data storage in India and key Asian markets

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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Indian rupee ends flat as market awaits key inflation data in US and India

Economic Times

Economic Times · 16d ago

Indian rupee ends flat as market awaits key inflation data in US and India

The Indian rupee ended mostly unchanged as traders awaited key inflation data from the U.S. and India, crucial for gauging interest rate trajectories. Market caution was also attributed to scheduled global geopolitical events and the impact of U.S. tariffs, contributing to uncertainty in the economic outlook. Despite recent U.S. job data suggesting potential Federal Reserve rate cuts, inflation figures remain pivotal, affecting both local and global economic strategies. Asian currencies mirrored caution amid these developments.

Sam Altman to visit India next month - The Economic Times

Economic Times

Economic Times · 6d ago

Sam Altman to visit India next month - The Economic Times

OpenAI CEO Sam Altman plans to visit India in September as OpenAI prepares to open its first Indian office. The company has established a legal entity and is hiring a local team to enhance AI accessibility and integration in India. OpenAI is seeking candidates for key local sales positions. Altman highlighted India’s rapid growth and potential to surpass the US as OpenAI's largest market, with ChatGPT usage quadrupling in the country over the past year.

Data centre ecosystem to attract over Rs 45,000 crore investment by 2026: report

Economic Times

Economic Times · 1y ago

Data centre ecosystem to attract over Rs 45,000 crore investment by 2026: report

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.

India a top priority market for KKR’s Asia infra play

Livemint

Livemint · 1y ago

India a top priority market for KKR’s Asia infra play

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.

Snowflake launches Cortex Agents to enhance AI data retrieval and decision-making for enterprises

YourStory

YourStory · 6m ago

Snowflake launches Cortex Agents to enhance AI data retrieval and decision-making for enterprises

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.

Coffee exports up 125 pc to $1.8 billion in last 11 years: Govt data

Economic Times

Economic Times · 2m ago

Coffee exports up 125 pc to $1.8 billion in last 11 years: Govt data

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.

India's digital businesses are innovating faster with Data + AI, says Databricks founder

Economic Times

Economic Times · 2m ago

India's digital businesses are innovating faster with Data + AI, says Databricks founder

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.

Energy analytics company iRasus Technologies raises seed round

Entrackr

Entrackr · 10m ago

Energy analytics company iRasus Technologies raises seed round

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.

RBI plans 2025 launch of cloud services, countering dominance of global firms

Economic Times

Economic Times · 9m ago

RBI plans 2025 launch of cloud services, countering dominance of global firms

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.

Rupee gains alongside Asian peers as US policy worries trouble dollar

Economic Times

Economic Times · 1m ago

Rupee gains alongside Asian peers as US policy worries trouble dollar

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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