Emphasizing India’s potential in the semiconductor sector, Modi expressed ambition for the nation to emerge as a robust player in semiconductor production. By enhancing indigenous semiconductor manufacturing, India can not only cater to its domestic demands but also contribute to the global supply chain. Modi pledged governmental support through policy enhancements to facilitate this vision.

In a show of confidence in the semiconductor industry, Modi assured full cooperation from the government towards its advancement. He commended the proactive approach of the central government in driving the sector forward, noting the escalating global focus on India’s semiconductor landscape. The Prime Minister highlighted the growing interest of international corporations in investing in India, marking a significant shift towards increased opportunities in the country.

Discussing innovation, Modi encouraged the generation of fresh ideas that would not only propel businesses but also steer India’s trajectory towards progress. Recognizing semiconductors as essential across various sectors, Modi advocated for investments in novel concepts to bolster social, digital, and infrastructural development. He reiterated the government’s commitment to nurturing talent through skill development initiatives to enhance efficiency in industries.

Accompanied by Union Information and Broadcasting Minister Ashwini Vaishnav and representatives from leading semiconductor firms, Modi anticipates inaugurating Semicon India 2024 on September 11. This global event, themed “Shaping the Semiconductor Future,” will convene industry stalwarts, with over 250 exhibitors and 150 speakers slated to participate. The event symbolizes India’s dedication to establishing itself as a pivotal hub in the semiconductor domain.

India’s pursuit of self-reliance in semiconductor manufacturing is underscored by the Indian Semiconductor Mission (ISM), initiated in 2021. The mission aims to incentivize and subsidize companies to establish chip manufacturing units in India, pivotal in realizing the nation’s semiconductor autonomy.

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Parekh highlighted that GenAI is exploring novel applications, such as refining credit analysis to enable banks to diversify their product offerings, thereby creating new revenue streams and enhancing productivity. He expressed optimism about the technology’s potential to drive business growth without necessitating staff layoffs. Infosys continues to ramp up its hiring efforts amid evolving economic conditions, evidenced by robust quarterly and yearly growth and successful deal acquisitions.

Acknowledging the critical role of Gen AI, Parekh mentioned that clients are increasingly interested in leveraging extensive language models for business advantages across various sectors, from software development to customer support. Infosys is witnessing significant benefits that clients can derive from such implementations. Although Infosys does not disclose specific revenue breakdowns from generative AI projects, Parekh underscored the company’s strong commitment to establishing itself as an AI-centric organization.

In its pursuit of expansion, Infosys has globally invested in enhancing its digital upskilling programs to include cutting-edge courses on generative AI. The company’s platforms now incorporate GenAI features, as highlighted in its latest annual report. Furthermore, Infosys is actively seeking potential acquisitions following two recent buyouts, aiming to match the scale of recent tech acquisitions. Parekh expressed interest in acquiring firms specializing in data analytics, SAAS, and exploring opportunities in select European and American markets.

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The recent surge in cyber crimes, facilitated by advanced technology, has seen criminals exploit platforms like WhatsApp to lure victims into fraudulent schemes under the guise of investments and trading opportunities. Particularly alarming is the rise of sophisticated tactics such as sending fake FIRs, RBI letters, and CBI notices to extort large sums of money from unsuspecting individuals. With the prevalence of scams involving OTPs and malicious links, CP Srinivas Reddy emphasized the importance of vigilance and caution to prevent falling prey to such schemes.

The collaborative efforts of the Telangana police have not only led to the apprehension of notorious criminals but also resulted in the recovery of funds linked to 131 cases in Telangana alone. With cyber criminals becoming increasingly adept at exploiting technological advancements for illicit gains, law enforcement agencies remain vigilant in combating cyber threats and safeguarding the public against financial fraud and digital deception.

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