📢 India's Economic Initiatives & Corporate Moves
Your daily dose of business news
🗞️ TCS Appoints Aarthi Subramanian as Executive Director and COO
Tata Consultancy Services has appointed Aarthi Subramanian as Executive Director and Chief Operating Officer, effective May 1. She brings deep experience in digital transformation and operations, having served as Group Chief Digital Officer at Tata Sons.
💬 Expert Opinion: "Aarthi's extensive experience in technology and operations will be instrumental in enhancing TCS's competitive edge in the rapidly evolving IT services landscape." – People Matters
🗞️ Indian Startup Builds AI That Doesn’t Need GPUs
A breakthrough by an Indian startup enables AI systems to run on CPUs instead of expensive GPUs. The innovation by Ziroh Labs and IIT Madras could democratize access to AI computing without advanced chips.
💬 Expert Opinion: "Kompact AI's ability to function without advanced GPUs is a significant step towards making AI technology more inclusive and cost-effective." – Tech in Asia
🗞️ Finance Minister Seeks RBI-Govt Support for Growth
India's Finance Minister said the country needs continued backing from the RBI and the government to support economic momentum amid global headwinds. She also welcomed the central bank’s recent repo rate cut.
🗞️ India Launches ₹23,000 Cr Electronics Production Scheme
The Ministry of Electronics and IT (MeitY) unveiled a ₹23,000 crore initiative to strengthen the electronics manufacturing ecosystem and reduce dependency on imports.
🗞️ Prada Buys Versace for €1.25 Billion
In a high-profile luxury deal, Prada has agreed to acquire Versace from Capri Holdings for €1.25 billion, expanding its portfolio and global market reach.
🗞️ Billionaires Add $135B After Tariff Pause
A temporary tariff pause by Donald Trump led to a $135 billion surge in the wealth of the world’s top 10 billionaires, with Elon Musk leading the gains.
🗞️ Trump Plans Tariffs on Pharma Imports
Former President Donald Trump said the U.S. will soon impose tariffs on pharmaceutical imports to push manufacturing back to domestic soil.
🗞️ China Orders Banks to Cut Dollar Purchases
The People’s Bank of China has advised major state lenders to reduce their U.S. dollar purchases, likely aiming to stabilize the yuan and ease forex pressure.