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UK Companies Employ Over 666,992 People in India, According to 'Britain Meets India' Report
Business Bytes
·
1y ago
Medial
According to the 'Britain Meets India' report, UK companies employ over 666,992 people in India, generating a turnover of around Rs 4,88,840 crores. The report highlights the significant presence of UK businesses in India, particularly in the technology sector, with many companies establishing Global Capability Centres for innovation and research. This showcases the strong economic relationship between the UK and India, emphasizing the importance of fostering collaboration and strengthening ties between the two nations.
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Elon Musk hits out at Britain after reported summit snub
Economic Times
·
10m ago
Medial
Elon Musk has criticized the UK government after reports emerged that he had not been invited to the country's investment summit. He claimed that the government was releasing convicted paedophiles while punishing people for social media posts. The controversy stems from Musk's previous posts on his X platform about the anti-immigration riots in Britain last month. Over 1,700 prisoners were released early in an effort to tackle prison overcrowding, but those convicted of sex offences were excluded. The UK government and others had previously condemned Musk for his comments on the riots.
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UK children exposed to violent content online, see it as 'inevitable', report finds
Reuters
·
1y ago
Medial
Children in Britain are exposed to violent and self-harm related content online, even at a young age, according to a report commissioned by Ofcom. The research found that kids between the ages of 8 and 17 encountered such content mainly through social media, video-sharing platforms, and messaging apps. They expressed feeling a lack of control over the content suggested to them and had limited understanding of recommender systems. Ofcom urged tech companies to take action to protect children in line with new online safety laws.
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Food Industry is the Second Largest Job Creator in India, Employing Over 85 lakh People, Says NRAI President Sagar Daryan
OutlookIndia
·
3m ago
Medial
The food industry is the second-largest job creator in India, employing over 85 lakh people, as stated by NRAI President Sagar Daryan. This sector is projected to employ more than 1 crore people soon and is the third-largest industry in India, significantly larger than Bollywood. During the NRAI Food Delivery Summit 2025, industry voices emphasized the importance of making food delivery profitable and sustainable, advocating for a role in policy-making and addressing challenges with food aggregators like Zomato and Swiggy.
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BP India Chief: India-UK free trade agreement to boost energy cooperation, investments
Economic Times
·
15d ago
Medial
The newly signed India-UK Free Trade Agreement (FTA) is expected to boost energy cooperation and investments, particularly in renewables. This landmark deal, signed during Prime Minister Narendra Modi's UK visit, aims to significantly enhance trade between the two nations by eliminating tariffs on various goods. The FTA will enable seamless flows of talent and expertise, with India benefiting from zero duties on 99% of its exports to the UK, while Britain will enjoy substantial tariff reductions on its exports to India.
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India's GCC ecosystem set to hit $100 billion by 2030: report
Economic Times
·
8m ago
Medial
The global capability center (GCC) landscape in India is experiencing significant growth, projected to reach $100 billion by 2030 and employ over 2.5 million professionals. Currently, India hosts over 1,700 GCCs generating $64.6 billion in annual revenue and employing over 1.9 million professionals. The report highlights that 70% of mid-sized corporations consider their Indian GCCs crucial for strategic innovation. The study also reveals that engineering, research and development-focused GCCs are growing faster than the overall rate, indicating a shift towards high-value capabilities. Furthermore, the report projects increased investment in AI and cybersecurity training by GCCs in the coming years.
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Britain invites China to its global AI summit
Economic Times
·
1y ago
Medial
Britain has invited China to its global artificial intelligence (AI) summit in November, aiming to bring together governments, tech companies, and academics to discuss AI risks and regulation. Foreign Minister James Cleverly stated that excluding one of the leading nations in AI tech would not keep the UK public safe from AI risks. The summit will address topics such as AI's impact on biosecurity and its potential for public good, like in safer transport. Britain seeks to engage with China while safeguarding its institutions and infrastructure.
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India among global fintech hotspots, says World Economic Forum study
YourStory
·
1m ago
Medial
India is recognized as a global fintech hotspot alongside the US and the UK, according to a World Economic Forum study. The report highlights India's role in enhancing financial access in emerging markets, despite a post-pandemic slowdown. The study identifies key fintech hubs, including India, hosting over 10 firms each. Fintechs are increasing financial inclusion, with significant customer growth among traditionally underserved groups like MSMEs, low-income individuals, and women, especially in emerging markets.
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UK’s Video AI Firm Synthesia Hits $2.1Bn Valuation Amid National AI Push
OutlookIndia
·
6m ago
Medial
Synthesia, a UK-based AI video platform, reached a $2.1 billion valuation after raising $180 million in a new investment round, almost doubling its previous value. This milestone comes after the UK government's AI Opportunity Action Plan, aiming to establish Britain as a leader in AI technology. Synthesia's text-to-video software is utilized by 60% of Fortune 100 companies for training and demonstrations, positioning it among Britain's largest AI firms. The funding was led by NEA Management along with other investors.
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50% of urban dwellers value quick delivery: PwC India report
Thehindubusinessline
·
1y ago
Medial
According to a report by PwC India, the next phase of e-commerce growth in India will be driven by digitally-savvy consumers in tier 2, 3, and 4 cities. The report highlights that more than 60% of people prefer shopping via apps, with a preference for marketplace apps that cater to multiple categories. Social media platforms also play a significant role in driving product trials. The report found that prompt delivery is a key factor for urban consumers, while consumers in other regions are more focused on discounts and bargains. Additionally, consumers prefer human interaction over chatbots for customer service.
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India top choice for digital pursuit; firms to boost investments in AI, big data, cybersecurity: Nasscom
Economic Times
·
1y ago
Medial
India remains a top choice for expanding digital services portfolios, with companies expected to increase spending on AI, data analytics, and cybersecurity, according to a report by industry body Nasscom. The report, based on a survey of 550 enterprises, found that 71% of Indian companies spent over 20% of their tech budget on digital in 2023. Furthermore, nearly 90% of companies plan to increase investments in key digital technology areas in 2024. The report highlights a shift towards cybersecurity, driven by the adoption of generative AI technology. India also continues to be a preferred outsourcing destination for various sectors.
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