BUSINESS ACCELERATOR
The Circle: Founders Club concludes the demo day for the K-Startup Centre India 2024
The Demo Day event wrapped up with the 10 startups pitching their solutions to a jury panel and guests comprising venture capitalists, govt officials and investors.
Robust services drive India's business activity to 3-month high in Nov, cost pressures grow
India's business activity surged in November, hitting a three-month high thanks to a booming services sector and record job creation. Despite this positive trend, inflation has reached a near 12-year peak, driven by rising input costs across industries. While businesses remain optimistic, the soaring inflation may prompt the Reserve Bank of India to maintain its cautious stance on interest rates.
Accelerated computing efficient solution for AI here: Nvidia
Meanwhile, US-based Qualcomm said it is focused on edge AI and making on-device AI more accessible and efficient for its end consumers. Senior VP at the firm, Srini Maddali highlighted that Qualcomm has already integrated on-device AI into various products such as laptops, smartphones, IoT devices, and smart assistants, and cited the Snapdragon innovations¡ªa comprehensive system-on-a-chip (SoC).
WhatsApp becomes more business friendly, offers service messages for free
Until now, service messages - such as customer queries on order status, flight ticket rescheduling, etc. - on WhatsApp were charged Rs 0.25 in India. SMS costs Rs 0.12-0.15, while Google's RCS (rich communication services) is priced Rs 0.20-0.25. The latest move is the second rate cut announced by WhatsApp in six months.
Indian Hotels aims to double portfolio, revenues by 2030
Tata Group-owned Indian Hotels Company (IHCL) has unveiled ambitious plans to expand its hotel portfolio to over 700 properties by 2030. This strategic move aims to more than double the company's enterprise revenue, targeting over ?30,000 crore, as part of its new 'Accelerate 2030' strategy.
IHCL unveils new ACCELERATE 2030 strategy
Tata Group-backed IHCL has announced its ambitious 'ACCELERATE 2030' strategy, aiming to double its hotel portfolio to over 700 and achieve a revenue of Rs 30,000 crore by 2030. The company plans to expand its brands, increase management fees, and capitalize on new business ventures to drive growth and enhance profitability.
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Indian Hotels plans to expand portfolio by doubling hotels in next five years under 'Accelerate 2030 Strategy'
The Indian Hotels Company Limited (IHCL) has announced its Accelerate 2030 strategy, aiming to double its consolidated revenue to INR 15,000 crore and expand its portfolio to over 700 hotels. The company plans to invest INR 5,000 crore over five years and maintain a dividend policy of 20-40% of PAT.
Is IHCL plan to double the number of hotels & revenue in next 5 years a conservative target? Puneet Chhatwal explains the math
Indian Hotels Company Ltd (IHCL) plans to double its revenue to Rs 15,000 crore over the next five years. The company will expand its portfolio to over 700 hotels. IHCL aims to achieve this growth through a combination of traditional businesses and new ventures. The company's strategy focuses on capital-light growth, with a significant portion coming from management fees.
India needs more AI startups: Peak XV Partners¡¯ Harshjit Sethi
¡°Given how transformative and important AI is, I hope we can see more companies building in India, not only for India but also for the world,¡± Harshjit Sethi, managing director at Peak XV Partners at the inaugural edition of The Economic Times India Ascends held in New Delhi.
TCS shares in focus after signing deal with Air France-KLM to accelerate data-driven aviation
TCS Share Price: Tata Consultancy Services (TCS) has secured a multi-year contract with Air France-KLM. TCS will help transition the airline's data infrastructure to the cloud over the next three years. This move aims to establish Air France-KLM as a leader in data-driven aviation, enhancing operational efficiency and customer experience.
India sees an opportunity in accelerated supply chain reordering following US election results, says EAM Jaishankar
India's External Affairs Minister, Dr. S Jaishankar, views the US election results as a potential catalyst for accelerating the ongoing global supply chain reordering. He believes this presents an opportunity for India amidst disruptions. Jaishankar also anticipates increased geopolitical hedging and digital implications stemming from the election outcome.
Profectus Capital secures $25 million investment from IFC to accelerate India¡¯s climate goals
The funding, structured as green bonds, will facilitate MSMEs' access to energy-efficient equipment, promoting sustainable growth and reducing their carbon footprint.
India's factory growth accelerates in October, PMI shows
India's manufacturing sector saw significant growth in October after three months of slowdown. Improved demand boosted job creation and a positive business outlook. New orders, both domestic and international, surged. Despite higher inflation, the outlook remains optimistic with increased hiring and strong consumer demand expected to continue.
¡®India has unique strengths to help it win the AI race¡¯
Shanker Trivedi, senior vice president of enterprise business, Nvidia, on unique strength of India¡¯s digital economy, positioning the country as one of the top three AI economies of the world
Japan, UK and Italy agree to accelerate joint next-generation fighter jet project to replace F-2s
Japan, the U.K., and Italy are accelerating the joint development of a next-generation fighter jet, set for 2035 deployment. A trilateral government body, GIGO, will oversee the project, aiming to counter threats from China, Russia, and North Korea, while strengthening Japan's defense industry.
Hubler accelerates retail store launches with configurable SaaS platform
Hubler introduces its NSO software, a configurable and scalable solution designed to streamline new store launches for retail, food, and D2C brands.
Marriott to open tech accelerator in Hyderabad next year
Marriott International is setting up a tech accelerator in Hyderabad, opening in early 2025. This will be its first overseas global capability centre. The centre aims to leverage Hyderabad's technology talent, focusing on software engineering, infrastructure, operations, and cybersecurity. Marriott's expansion in India includes 153 hotels with 84 more in the pipeline.
Marriott's first overseas GCC in Hyderabad will focus on engineering, infrastructure and cybersecurity
ET had reported on September 5 that the hospitality major was setting up its first global capability centre (GCC) in the country in Hyderabad.
US service sector activity accelerates to 1-1/2-year high; employment declining
U.S. services sector activity surged to a 1-1/2-year high in September due to strong growth in new orders. This suggests the economy stayed solid in the third quarter. The services PMI rose to 54.9, the highest since February 2023. The Atlanta Federal Reserve estimates a 2.5% GDP growth for Q3.
DHL Group to accelerate sustainable growth with new Strategy 2030
DHL Group has unveiled its 'Strategy 2030 ¨C Accelerate Sustainable Growth' plan, aiming for a 50% revenue increase by 2030.
Going it alone together: India's Defence Acquisition Council approves Rs 1.45 lkh cr for indigenous procurement
India's Defence Acquisition Council has approved acquisition proposals worth ?1.45 lakh crore, with 99% allocated for indigenous procurement. This move aligns with India's Aatmanirbhar Bharat campaign and involves significant partnerships with the US. The initiative aims to modernize India's military while fostering domestic defence capabilities and international collaborations.
IIMA Ventures launches Growth Accelerator 2.0 to support up to 15 SMEs
Participants will kick off their journey with a three-day intensive bootcamp at the IIM Ahmedabad campus, featuring workshops and scaling-focused sessions led by IIMA faculty.
MeitY unveils second cohort of Samridh scheme for startups
To promote growth of India¡¯s software product industry as part of the 100-day agenda, the Government of India is providing support to 125 startups through potential accelerators to achieve the target of nurturing 300 startups. The startups in turn get a chance to improve their products and attract funding to expand their businesses.
AWS picks seven Indian startups for global accelerator program: a look at what they do
Amazon Web Services has selected seven Indian startups for its global accelerator programme, providing up to $1 million in AWS credits. These startups will use the credits to develop generative AI solutions and will benefit from AWS and NVIDIA's expertise. This marks the highest number of participants from a single Asia-Pacific country.
NetSuite announces innovations, deploys AI to help businesses increase efficiency and accelerate growth
New embedded AI capabilities, product offerings, integrations, and user experience innovations help businesses gain insights, improve productivity, and promote collaboration.
M1xchange and Bharat BillPay partner to accelerate MSME growth with integrated financing
M1xchange has partnered with NPCI Bharat BillPay Ltd. to offer low-cost invoice financing directly from accounting software. This collaboration aims to enhance payment efficiency for TReDS-registered companies in India, particularly benefiting MSMEs by improving liquidity and reducing payment cycles.
Carlsberg to retain strategy post-full ownership of Indian ops, eyes accelerated investment
Carlsberg¡¯s global CEO, Jacob Aarup-Andersen, confirmed that the Danish brewer does not plan a new strategy for India after acquiring full ownership of its Indian and Nepalese operations from the Khetan Group. The move, expected to finalize in a few months, will enable Carlsberg to boost investments and leverage opportunities in the rapidly growing Indian beer market, which is expanding four times faster than the overall segment. Andersen noted that while no dramatic strategy changes are anticipated, the company aims to enhance its market presence with increased control and investment.
India May business growth robust as exports rise at record pace, PMI shows
HSBC's flash India Composite purchasing managers' Index , compiled by S&P Global, rose slightly to 61.7 this month from April's final reading of 61.5, marking the 34th month above the 50-level separating growth from contraction.
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