Indian IT Predictions 📊, AI & ML Boost 🔋, MS Dhoni New Ambass. 🤝

Catch up on the latest in 🇮🇳 Indian 🇮🇳 startups and tech landscape - all in 5 minutes. [Newsletter Banner] Daily 🇮🇳 IndiaTech 🇮🇳 Roundup Welcome to today's edition of the NextBigWhat Daily IndiaTech News! Today's top stories include predictions for Indian IT firms, AI and ML boosting India's data centre industry, and MS Dhoni becoming a brand ambassador. 🤝 Help us reach your your friends and colleagues! Share the NextBigWhat newsletter. [Tweet it]( [Whatsapp]( JPMorgan predicts challenging year for Indian IT firms ahead of Q2 results 🇮🇳 IndiaTech - JPMorgan analysts anticipate a ‘washout’ year for Indian IT companies, with no significant increase in demand. - Major IT firms have reported reduced IT spending, contract delays, and cancellations by mostly US-based clients due to economic slowdown and interest rate concerns. - Despite market expectations for double-digit growth, JPMorgan forecasts high single-digit growth for large-cap IT companies and low double-digit growth for mid-cap companies in fiscal 2025. AI, ML, and digital infrastructure to boost India’s data centre industry 🇮🇳 IndiaTech - Artificial Intelligence (AI), Machine Learning (ML), and Digital Public Infrastructure are predicted to drive India’s data centre industry growth, creating a demand for 8.8 million sq ft of real estate by 2026. - The industry added 57 MW in H1 2023, a 34% decrease from the same period last year, due to pandemic-related demand and delivery delays. Learn from the top 0.1% practitioners [NBW Newsletter Ad]( Learn how to start and scale with curated content and AI prompts! This course is for anyone who wants to start their own business or validate an existing business idea. [Enroll]( RBI plans to consolidate and harmonize Internal Ombudsman guidelines, says governor Shaktikanta Das 📈 India Business - RBI governor Shaktikanta Das announced plans to consolidate and harmonize the Internal Ombudsman guidelines to strengthen customer grievance redressal system. - The new master direction will bring uniformity in matters like timeline for escalation of complaints, qualifications for appointing an Internal Ombudsman, and reporting formats. - Das also mentioned the potential role of Self-Regulatory Organisations (SROs) in strengthening compliance culture and providing a platform for policy making. Tata Elxsi collaborates with IISc to create automotive cyber security solutions 🇮🇳 IndiaTech - Tata Elxsi and the Indian Institute of Science (IISc) are jointly developing an automotive cyber security solution, leveraging Tata Elxsi’s AI and machine learning expertise. - The partnership aims to address cybersecurity challenges in complex in-vehicle networks and advancements in software, focusing on security and threat detection in connected vehicles. - Tata Elxsi’s CEO, Manoj Raghavan, emphasized the importance of secure vehicles for the future of the automotive industry, and the partnership’s role in building safer, more resilient vehicles. Get NBW News: The short news app for busy professionals. [App Store]( [Google Play]( MS Dhoni becomes brand ambassador for Reliance’s JioMart 📈 India Business - Reliance Retail’s e-commerce venture, JioMart, has appointed former Indian cricket captain MS Dhoni as its brand ambassador. - A new ad campaign featuring Dhoni will be launched on October 8, with the aim of celebrating life and shopping. - Dhoni expressed his excitement to be part of JioMart’s mission to support the digital retail revolution in India. Premji Invest and Zerodha in talks to acquire stake in Nainital Bank 📈 India Business - Venture investors and startups, including Premji Invest and Zerodha, are negotiating with Bank of Baroda to acquire a stake in its subsidiary, Nainital Bank. - Bank of Baroda, which owns over 98% stake in Nainital Bank, plans to initially divest about 40 to 50% stake and eventually sell the remaining shares. - The investment discussions are happening as the Reserve Bank of India considers allowing external investors to back a few lenders. RBI maintains retail inflation prediction at 5.4% for 2023-24, says Governor Das 📈 India Business - The Reserve Bank of India (RBI) keeps its retail inflation forecast at 5.4% for the financial year 2023-24, maintaining the policy rate unchanged. - RBI Governor Shaktikanta Das announced the repo rate remains at 6.5%, with the Monetary Policy Committee committed to aligning inflation to the targeted level. - The announcement comes as Consumer Price-based Inflation (CPI) reached 6.83% in August, with the government mandating the RBI to maintain CPI inflation at 4% with a 2% margin. Netflix struggles in India, lagging behind Prime Video and Disney+, says Bernstein 🇮🇳 IndiaTech - Netflix has around 6.5 million subscribers in India, significantly less than Prime Video’s 20 million and Disney+ Hotstar’s 40 million. - Analysts attribute Netflix’s slower growth to a lack of local content, with only 12% of its titles being local, compared to 60% of Prime Video’s catalog. - Despite lowering prices and partnering with Jio Platforms, Netflix’s reception in India remains poor, with Disney’s Hotstar dominating due to its cricket streaming offerings. RBI maintains 6.5% rates, warns of potential inflation due to food price shocks 📈 India Business - RBI Governor Shaktikanta Das warns that persistent high food prices could lead to general inflation. - The central bank’s policy remains focused on curbing money supply to control inflationary pressure. - Despite a declining outlook for core inflation, risks remain due to potential higher food prices and global economic slowdown. India ranks among top three countries for 5G network base, says Nokia CEO 🇮🇳 IndiaTech - India’s 5G network rollout has been one of the fastest, placing it among the top three nations with the largest 5G installed base. - Nokia and Ericsson have seen significant growth in India sales, offsetting a dip in telecom gear shipment across major geographies. - Nokia’s 6G research lab in Bengaluru aims to accelerate the development of 6G technology and facilitate testing of innovative solutions. © 2023 Zakti Techmedia Pvt. Ltd. All rights reserved. | [Unsubscribe](