- Monday, February 24, 2025
By: Shubham Ghosh
HERE are news in brief related to Indian economy and business for Tuesday, July 4, 2023:
Indian commerce and industry minister Piyush Goyal on Tuesday said at the ‘Startup20 Shikhar’ event in Gurugram in the northern state of Haryana that India’s robust economy and market potential have been instrumental in fostering the growth of startups in the global ecosystem. He stressed the need for a global collective effort to nurture inclusive, supportive and sustainable startup ecosystems worldwide to tackle global challenges. The minister also highlighted the significance of discussions on startups within the G20, stressing the importance of sharing ideas, best practices, funding mechanisms, and promoting research and development collaborations.
Indian road transport and highways minister Nitin Gadkari on Tuesday inaugurated and laid the foundation stone for 11 national highway projects in Pratapgarh in the northern state of Rajasthan, with a total value of Rs 5,600 crore. Four projects, costing Rs 3,775 crore, were inaugurated, including the six-laning of the Kishangarh-Gulbapura section on National Highway 48, which will boost economic and social development in Ajmer and Bhilwara districts. The construction of a four-lane railway overbridge in Fatehnagar and a high-level bridge on the Chambal River in Mandrayal were also inaugurated. The foundation stone for seven projects, worth Rs 1,850 crore, was laid, which will provide direct connectivity to Nathdwara and Udaipur airport.
Google, part of Alphabet Inc., has planned to hire an experienced manufacturing and policy professional as its head of government affairs in India. The appointment aims to address legal issues and expand hardware manufacturing in the country. Sreenivasa Reddy, who is currently working as a senior engineering executive at Microsoft Corp., is likely to join Google toward the end of 2023, informed sources told Bloomberg on condition of anonymity. He has earlier worked in senior positions at Apple Inc.’s India regulatory team and led government relations at the local unit of Swedish telecom-gear maker Ericsson AB, helping to drive domestic manufacturing at both firms.
US-based Hewlett Packard Enterprise (HPE) has entered into a preliminary agreement with VVDN Technologies to manufacture high-end servers valued at $1 billion over the next 4-5 years, according to India’s electronics and information technology minister Ashwini Vaishnaw. The memorandum of understanding was signed within weeks after the joint statement by India and the US on the co-production and development of technologies issued during Indian prime minister Narendra Modi’s visit to the US. “It is a pleasure to share that HP Enterprise has agreed to produce high-end servers in India under the IT Hardware PLI scheme which was recently approved by our prime minister,” Vaishnaw told the PTI.
Indian finance minister Nirmala Sitharaman and minister of state for entrepreneurship, skill development, electronics and technology Rajeev Chandrasekhar on Tuesday met to discuss the “Digital Competition Laws” and agreed on adopting a “whole of government approach” for framing provisions. According to Sitharaman, the entire government’s effort is for shaping the tech’s future for India’s Techade. According to India’s ministry of electronics and IT, the Digital India Act will harmonise laws and regulate emerging technologies such as artificial intelligence (AI) and incorporate industry input on blockchain and Web 3.0 regulations to safeguard digital citizens.
(With agencies inputs)
