Indian Economy : News,Discussions & Updates

Asterion Moloc said:

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analyticsindiamag.com

‘NVIDIA is AI in India’

‘NVIDIA is AI in India,’ said Jensen Huang at NVIDIA AI Summit 2024 in Mumbai when announcing that Indian AI factories would see 20x NVIDIA GPU growth by year-end.
analyticsindiamag.com analyticsindiamag.com

blogs.nvidia.com

India’s Robotics Ecosystem Adopts NVIDIA Isaac and Omniverse to Build Next Wave of Physical AI

In vast warehouses, Addverb’s robots work tirelessly, picking, sorting and delivering products with precision. Across frozen Oslo, Norway, Ottonomy’s Yeti robots assist in navigating icy streets as part of a trial with Posten Norge for urban deliveries, while in sun-soaked Madrid, they...
blogs.nvidia.com



theprint.in

Nvidia to supply AI chips to Reliance, partner with Infosys, TCS

Mumbai, Oct 24 (PTI) Nvidia Corp will supply artificial intelligence processors to Reliance Industries Ltd’s 1 gigawatt under-construction data centre in Gujarat and will team up with tech giants Infosys, TCS, Tech Mahindra and Wipro to deepen partnerships in growing Indian market, its CEO...
theprint.in theprint.in
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Reliance-backed Addverb to launch first humanoid robot for diverse workflows by 2025 using Jio’s AI platform​

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The homegrown robotics major, Addverb, on Tuesday (November 19, 2024) announced its foray into humanoid robotics. The Noida-based company is expected to launch its first humanoid robot by 2025. “The new humanoid robot will be an advanced AI agent capable of processing vast volumes of multi-modal data from vision, audio, and touch inputs.”

Addverb will develop its first humanoid robot with Reliance, using Jio’s AI platform and 5G services. Reliance invested in Addverb in 2021. And the company deployed its advanced robotic solutions across Reliance’s businesses, including grocery, fashion, petrochemicals, and healthcare.


Addverb’s first humanoid robot will navigate complex environments, perform intricate tasks, make real-time decisions, and adapt to diverse workflows across industries—including warehouses, defence, and healthcare, Addverb said.

It will use GPU, energy-efficient actuators, and dual-arm capabilities, to execute complex tasks requiring bipedal mobility across multiple terrains. It will also integrate Visual and Language Action (VLA) technology, enabling full autonomy in dynamic settings, the company said.

Previously, Addverb introduced India’s first quadruped, AI-powered robot with autonomous navigation, modular payload that can traverse various terrains.

“Our foray into humanoid robotics is driven by our ambition to eliminate ‘3D’ jobs—those that are Dull, Dirty, and Dangerous. This project focuses on integrated processing and decision-making capabilities, enabling the humanoid to perform complex tasks with human-like dexterity and strength,” said Sangeet Kumar, Co-Founder and CEO of Addverb.

This initiative will boost humanoid robot density in India and support global adoption of this technology. We are embarking on an exciting journey towards transformative progress in robotics, he added.

Addverb has operations across the US, Europe, and Asia.
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www.thehindu.com

Reliance-backed Addverb to launch first humanoid robot for diverse workflows by 2025 using Jio’s AI platform

Addverb’s first humanoid robot will navigate complex environments, perform intricate tasks, make real-time decisions, and adapt to diverse workflows across industries
www.thehindu.com www.thehindu.com

addverb.com

Trakr: India's Homegrown Robotic Dog/ Quadruped - Addverb

Discover Trakr, India's homegrown robotic dog developed by Addverb. This quadruped robot offers advanced agility, mobility, and adaptability designed for a range of industrial and research applications, showcasing cutting-edge robotics technology.
addverb.com addverb.com

About the company

LOGISTICS: Behind the scenes of India’s largest robotics company: Addverb​


Talks about making products for defence sector also @4:10 of this Bloomberg Video
www.bloomberg.com

Addverb's Kumar on Humanoid Robotics Plans

Sangeet Kumar, CEO and Co-founder of Reliance Group backed Addverb, discusses the company's plans to launch its first humanoid robots in 2025, adding to its roster of products that could meaningfully help fashion, retail and energy industries. He also discusses the company's growth and expansion...
www.bloomberg.com www.bloomberg.com
 
Global music stars head to India as young, affluent Indians pack concerts

By Jaspreet Kalra
December 6, 20242:01 PM GMT+5:30
Updated 9 days ago
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Girls hold posters outside the venue of the Dua Lipa concert in Mumbai, India November 30, 2024. REUTERS/Francis Mascarenhas/File Photo Purchase Licensing Rights

Summary
  • Number of live events in India up 35% year-on-year
  • Affluent, globally connected Indians snapping up tickets beyond major cities
  • Industry insiders say India could soon rival Australia, Canada, China and UK for live tours

MUMBAI, Dec 4 (Reuters) - Young, well-to-do Indians’ booming appetite for live entertainment is attracting global music stars as they seek out new audiences in the world’s most populous nation.

Dua Lipa and Maroon 5 performed in India's financial capital Mumbai in the past seven days, while Coldplay, Ed Sheeran, Shawn Mendes and Green Day have concerts planned over the next three months.

"We've been listening to these artists online for years so seeing them in real life is quite exciting," said Aseem Khan, a 23-year-old from Bhopal in central India, as he queued with three friends to see British-Albanian pop star Dua Lipa.

About 20,000 people went to the Mumbai concert. Like Khan, many were in their early to mid 20s, and had travelled from across India to see the show. Two-thirds of the country's 1.4 billion population is under the age of 35.

Performances are a great way to spend "a weekend with multiple groups of friends as everyone is going to concerts these days," Khan said.
Affluent, globally connected Indians are driving the demand, according to executives at event management and ticketing firms.

"India is the second largest audio streaming market for most global artists around the world, translating very effectively to heightened demand on-ground for music concerts," said Anil Makhija, chief operating office for live entertainment and venues at BookMyShow, India's largest online ticketing platform.

The interest has changed how global stars are looking at India, said Adam Wilkes, president and chief executive for Asia Pacific at AEG, a live entertainment firm.

"What's been interesting the last few years is that it's gone from us saying, 'Hey, you ever think about India?' To them (artists) saying, 'Hey, I want to go to India,'" Wilkes said.

The concert boom has lifted other forms of live entertainment. There have been 27,000 live events, from music to comedy shows and theatre, in India so far this year to November, 35% more than in the same period last year, according to BookMyShow data.

Economists predict spillover effects into the wider economy as concert-goers splash out on transport, hotels, food and merchandise.
There will be a "significant boost to overall spending and consumption," Dipanwita Mazumdar and Jahnavi Prabhakar, economists at Bank of Baroda, wrote in a report on Dec. 3.

At the current pace, they estimated concert-linked spending could total between 60 billion rupees ($708.5 million) and 80 billion rupees on an annualized basis over the next 12 months.

AEG's Wilkes says infrastructure improvements have also reduced the logistical challenges of staging shows in India, helped by the success of major sporting events such as cricket's IPL.

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Map graphic showing cities which are hubs for live entertainment in India​

BEHIND THE BOOM

Affluent Indians' disposable income has been increasing even as growth in the world's fifth largest economy sees a slowdown and the middle-class reins in spending on consumer goods.

While India's average per capita income remains low at close to $2,500 a year and there is significant inequality, the number of Indians earning more than 1 million Indian rupees ($11,807.77) a year has more than doubled to over 12 million over the last five financial years to March 2024, according to government data. India's financial year runs from April to March.

The cheapest tickets for Coldplay's upcoming shows were 2,500 rupees ($29.50) and the most expensive 35,000 rupees ($414). By comparison, prices for a Coldplay concert in South Korea were priced between $46.63 and $761.

Tickets for the initial two India shows sold out within minutes, prompting the band to add three more dates including two in the northwestern city of Ahmedabad.

Announcing the Ahmedabad performances would take place in a 130,000-seater stadium named after Indian Prime Minister Narendra Modi, Coldplay said it would be their "biggest ever show".

It was a sign of how the appetite for live events has spread beyond India's most prominent cities.

"Tier 2 and 3 cities are now the thriving hubs for out-of-home entertainment," said Makhija of BookMyShow.

Bryan Adams is set to perform in the northeastern city of Shillong next week while Ed Sheeran kicks off his 2025 tour of India from Pune, a city about 150 km (100 miles) southeast of Mumbai.

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Stacked bar chart showing income distribution of individuals earning over 1 million rupees per year in India

Aggregate revenue from India’s live entertainment market is expected to reach about $1.7 billion by 2026, growing at a compounded annual growth rate of more than 20% over the next three to five years, according to estimates from consulting firm Ernst and Young.

"If India can become 5-6 plus cities, like what Ed (Sheeran) is doing, then you're sort of in the same bucket as Canada, UK, Japan, Australia, China. Those are the top, top markets for live entertainment after the United States," said AEG's Wilkes.

Sheeran, who first played in India in 2015, has talked enthusiastically about the country and the joy of performing there.

"I really feel the love here, in India. People are so excited! I have a similar personality, so I resonate with that," he said in a media interview earlier this year.

https://www.reuters.com/world/india...ng-affluent-indians-pack-concerts-2024-12-06/
 
Sathya said:
I am not person to grumble, but there should be basis for allocation of resources.

Gujarat is getting lion share in everything.
Even in Olympics Gujarat had 400 cr allocation, rest of the states were less.

I am not against spending more in needy places. But couldn't agree anymore.
Even though I am BJP supporter.
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Are bhai ye to dekho Gujarat kitane time return kar ke deta hai? If you can not hold olympaic in Gujarat than which batter place is there in your mind?
 
Rupee will cross 100 soon..... Disaster of epic proportions is coming..... Muh! Supa power 2050......Importing more than exporting.........muh! high population is our strength.......I mean strength for dhandho sure ...... Free loading bureaucracy..........going back to pre 90s reform is a must........Rural economy is keeping things little bit afloat but for how long, they can't rescue urban leeches from their incompetency every time.
 
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