DPIIT Secretary leads delegation to K-tech MeitY Nasscom Centre of Excellence for IoT/AI in Bengaluru
The visit aimed to engage with startups and incubation leaders, gain insights into the local innovation ecosystem, and identify opportunities for policy support to accelerate growth.
Centre of Excellence, India's largest deep tech innovation hub, connects startups, innovators, enterprises, academia, and government to solve real-world challenges using cutting-edge technologies such as Internet of Things (IoT), Artificial Intelligence (AI), Data Science, Big Data, AR/VR, Machine Learning, and Robotics.
The delegation interacted with startup founders and incubation managers to explore how these technologies can drive the future of manufacturing, logistics, and urban solutions.
Following the Investors Roundtable Conference in Bengaluru, Amardeep Singh Bhatia, Secretary, DPIIT, undertook a detailed review of the Tumakuru Industrial Area, a flagship project under the National Industrial Corridor Development Programme (NICDP).
Secretary, DPIIT examined key milestones, including Phase A development covering 1,736 acres, progress on internal roads, drainage, and utility corridors, and initiatives to support investors.
During the meeting with Larsen & Toubro (L&T), the EPC contractor, and HaskoningDHV, the PMC contractor for the project, highlighted the detailed updates on construction progress and major milestone deliverables.
L&T assured the officials that they will speed up the work and finish key tasks on time so as to ensure that land allotment to Industries is started by the year-end.
Secretary Bhatia urged all stakeholders to meet planned targets on schedule while upholding the highest quality standards to ensure Tumakuru Industrial Area attracts both global and domestic investment in sectors such as electronics, automotive, clean tech, and logistics.
The delegation also visited Foxconn Hon Hai Technology India Mega Development Pvt. Ltd. and the Devanahalli Aerospace Special Economic Zone (SEZ), followed by a tour of Dynamatic Technologies, a leading manufacturer of aerospace components.
The walkthrough provided insights into advanced manufacturing capabilities, precision engineering, and India's evolving role in the global aerospace supply chain.
The review meeting brought together key stakeholders, including Selvakumar S, Principal Secretary, Government of Karnataka; Rajat Kumar Saini, CEO and MD, NICDC; Mahesh M, MD, KIADB; and Shubha Kalyan, Deputy Commissioner and District Magistrate of Tumakuru, along with senior officials from NICDC and the State Government, to assess progress and align efforts for timely execution.
Secretary, DPIIT, encouraged stakeholders to leverage the synergy between innovation, industrial infrastructure, and policy support to drive investment and export-led growth. (ANI)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fashion Value Chain
3 hours ago
- Fashion Value Chain
Signify and BharatCares Partners to Illuminate 58 Gram Panchayats in Ayodhya, Uttar Pradesh, Benefiting over 2.4 Lakh People Under Har Gaon Roshan CSR initiative
In line with the #BrighterLivesBetterWorld vision, Signify, the world leader in lighting, announced a collaboration with BharatCares to bring sustainable outdoor lighting infrastructure to 58 Gram Panchayats across Uttar Pradesh under its Har Gaon Roshan CSR Program. This initiative aims to enhance safety, visibility, and the overall quality of life for people in these underserved areas, with a focus on rural communities. Signify and BharatCares partners to illuminate 58 Gram Panchayats in Ayodhya, Uttar Pradesh The project will see the installation of 2,000 streetlights. By supporting local infrastructure and rural development, the project will create a well-lit environment for residents, while fostering economic opportunities and improving daily life. The letter of commitment was exchanged between District Administration, Ayodhya and Signify in the presence of Smt. Anandiben Patel, the Hon'ble Governor of Uttar Pradesh, to further the sustainable development and community empowerment through innovative lighting solutions. Commenting on the partnership, Vikas Malhotra, Head of Connected Professional Business – Signify, Greater India, said, 'At Signify, we believe in bringing the best of innovations to the communities across India, through our Har Gaon Roshan CSR initiative. For this project, we are thankful for the support of BharatCares and the Hon'ble Governor of Uttar Pradesh for aiding our collective mission to strengthen rural communities. By illuminating these Gram Panchayats and installing 2,000 streetlights, we are enhancing the safety and visibility for people around these areas. This partnership reflects our commitment to using light to positively impact lives in the most underserved regions of India, fostering sustainable growth and community empowerment.' BharatCares representative Adarsh Trivedi, added, 'This partnership with Signify marks a significant step toward realizing our collective vision of transforming rural infrastructure in Uttar Pradesh. Providing lighting to these 58 Gram Panchayats will not only improve safety and infrastructure but also unlock new avenues for community development, economic growth, and enhance livelihood activities, especially during evening hours. This initiative will empower local communities and improve the overall well-being of its residents.' As Signify continues to expand its efforts across India, the initiative stands as a testament to the company's commitment to lighting up lives, building a brighter, more inclusive tomorrow through innovation that matters. About Signify Signify (Euronext: LIGHT) is the world leader in lighting for professionals, consumers and the Internet of Things. Our Philips products, Interact systems and data-enabled services deliver business value and transform life in homes, buildings and public spaces. In 2024, we had sales of EUR 6.1 billion, approximately 29,000 employees and a presence in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We have been in the Dow Jones Sustainability World Index since our IPO for eight consecutive years and have achieved the EcoVadis Platinum rating for five consecutive years, placing Signify in the top one percent of companies assessed. News from Signify can be found in the Newsroom, on X, LinkedIn and Instagram. Information for investors is located on the Investor Relations page.
Time of India
4 hours ago
- Time of India
FDI in hospitality industry registered 216% growth in 2024: Tourism minister
Advt By , ETHospitalityWorld Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHospitalityWorld industry right on your smartphone! Download the ETHospitalityWorld App and get the Realtime updates and Save your favourite articles. As per the government reports, the Foreign Direct Investments (FDI) in the hotel and restaurant sector has increased by 216 percent between 2023 and 2024 primarily as a result of the positive mood in the industry due to successful listing of a number of hotel companies in the stock market union tourism minister, Gajendra Singh Shekhawat , in a written response to a question in the Parliament last week, quoting the DPIIT (Department of Promotion of Industry and Internal Trade) figures, said that the FDI into the hotel and restaurant industry in the country has gone up from Rs 3,636.25 crore in 2023 to Rs 11,490 crore in amount was Rs 2,827.44 crore in has also been a steady increase in the outstanding credit extended by financial institutions to the hospitality sector in the last three years, the minister said citing RBI on May 31, 2025, the credit outstanding reported was Rs 85,206 crore against Rs 78,408 crpre on the same date in 2024. This was Rs 68,712 crore around the same time in the year a question related to marketing development assistance (MDA) scheme meant to provide financial support to tourism service providers (TSPs) in the country like tour operators, hotels and other stakeholders to undertake promotion of Incredible India in overseas markets which is on hold for nearly five years now, the tourism minister said that the scheme was currently under review.'The Ministry of Tourism extends financial assistance to the approved tourism service provider (TSPs) across the country for undertaking promotion and marketing of tourism to the country from the overseas markets, under the Marketing Development Assistance (MDA) Scheme. The scheme is under review to align with the evolving requirements of the industry,' the minister said in a written reply in response to a query in the Rajya Sabha.
Hindustan Times
4 hours ago
- Hindustan Times
Cash Windfall From Trump's Tax Law Is Starting to Show Up at Big Companies
Provisions in President Trump's 'One Big Beautiful Bill Act' will give windfalls to companies. The magnitude of the cash savings from this summer's federal tax legislation is starting to take shape at America's biggest companies. AT&T recently said it expected $1.5 billion to $2 billion in cash tax savings this year, due to provisions in the tax-and-spending law dubbed the Bill Act">One Big Beautiful Bill Act. The high end of the range is equivalent to an 11% boost to analyst estimates of 2025 free cash flow before the law was enacted. AT&T estimated annual cash tax savings of $2.5 billion to $3 billion in both 2026 and 2027. In short, changes like allowing upfront depreciation of assets and immediate expensing of research-and-development expenses will bring swift windfalls to American corporations but also lasting tailwinds. This in turn has provided incremental fuel to stock markets, a counterweight to risks from tariffs and other policy uncertainty. The cash savings won't affect reported earnings, which are calculated using different accounting rules than taxes. It won't all ultimately end up in free cash flow either, because AT&T plans to reinvest much of the savings in new capital projects. But the change is still a positive for the company's shareholders and valuation, all other things being equal. 'More cash in the company's pocket. Less cash in Uncle Sam's pocket. That in theory should be good for investors,' said David Zion, founder of Zion Research Group and a longtime accounting and tax analyst. AT&T raised its 2026 and 2027 estimates for free cash flow by $1 billion each year to $18 billion and $19 billion, respectively. That means more available cash to pay for things like debt reduction or buying back stock. Free cash flow typically is defined as cash flow from operating activities minus capital expenditures. AT&T's numbers are small potatoes compared with the biggest tech giants' expected windfalls. Zion in a recent report estimated that Meta Platforms' cash tax savings could be as much as $11 billion this year. That is equivalent to 31% of previously estimated free cash flow for the year. Similarly, Zion estimates cash tax savings this year could be $15.7 billion, equivalent to 43% of the average analyst estimate for 2025 free cash flow. Other companies with estimated one-year savings equivalent to 30% of free cash flow or more include Charter Communications, Targa Resources and Texas Instruments. All told, Zion estimates $148 billion in cash tax savings for a sample that covered 369 of the companies in the S&P 500. That is equivalent to 8.5% of the companies' combined full-year estimates for free cash flow as of June 30, right before Congress passed the tax law, using estimates compiled by S&P Global Market Intelligence. Amazon, Meta, Alphabet and Microsoft together accounted for 38% of the total. Most companies, including those four, haven't disclosed estimates yet quantifying the impact. Zion used 2025 estimates for companies with calendar fiscal years and 2026 estimates for companies with non-calendar fiscal years. The firm's $148 billion estimate covers three major tax changes with the biggest potential impact on free cash flow. For starters, the new tax law brings back so-called 100% bonus depreciation. This means businesses can fully and immediately expense most depreciable assets in the U.S. for tax purposes, if they acquired and placed the assets into service after Jan. 19. The government also reinstated upfront expensing for U.S. research and development. That includes letting companies accelerate the expensing of previously unamortized R&D costs, which mainly is a one-time benefit rather than a sustainable source of cash. At Meta, for instance, Zion estimates $4.6 billion of the $11 billion in savings would come from accelerating expensing of unamortized R&D already on the books, while $3.6 billion would be from upfront expensing of new R&D, and $2.8 billion would be from full expensing of business property. Zion used rough, back-of-the-envelope math for his estimates. The savings could be lower, depending, in part, on the tax choices that companies make. For instance, some companies could elect not to fully accelerate expensing of unamortized R&D this year. Another provision in the new tax law relaxed the limit on deductibility of interest expense. The Congressional Budget Office estimated the new law's provisions on deductibility for capital expenditures, R&D and interest expense would cost the government $363 billion, $141 billion and $61 billion, respectively, over 10 years. So while some provisions provide only a near-term boost, others will keep paying off for companies for years to come. Whatever one's views about corporate tax breaks and ballooning budget deficits, they likely have helped bolster stock valuations. Write to Jonathan Weil at
