Karnataka minister refutes Andhra CM, says first indigenous quantum computer operational in Bengaluru
Empower your mind, elevate your skills
In a sharp rebuttal to Andhra Pradesh chief minister N Chandrababu Naidu's claim that his state is set to deploy India's first indigenously built 8-qubit quantum computer this November in Amaravati, Karnataka minister N S Boseraju asserted that the country's first quantum computer is already operational in Bengaluru.In a statement, Karnataka Science and Technology Minister said the quantum computer, built by Bengaluru-based QpiAI , has been providing commercial services since April 2025.He was responding to Naidu's post on 'X' dated July 24, in which the Andhra Pradesh chief minister said, "Our state is set to deploy India's first indigenously built 8-qubit quantum computer this November in Amaravati, with support from @QpiAI.""This initiative, backed by the National Quantum Mission , aims to transform agriculture, water management, and healthcare. I would like to congratulate QpiAI founder Mr Nagendra Nagarajan and express my gratitude to @nqmdst for their support of this project," Naidu added.Reacting to the announcement, Boseraju said, "For the record, India's first quantum computer-built indigenously by @QpiAI right here in Bengaluru-began commercial operations in April 2025.""This 25-qubit quantum computer, named INDUS, is already delivering real-world services in sectors such as healthcare, defence, advanced research, finance, and others," he said.Karnataka, he added, is not only leading the nation in quantum innovation but also continues to strengthen its position as the epicentre of India's quantum future."While celebrating our progress, we must also cultivate a culture of considering facts and figures," the minister remarked.In a subsequent statement, Boseraju highlighted that India's first Quantum Research Park has been established at the Indian Institute of Science (IISc), Bengaluru.The Karnataka Cabinet has approved Rs 48 crore for the development of its second phase, he added."Several initiatives are underway to ensure the holistic growth of the quantum sector in Karnataka," he said.Boseraju also claimed that for the first time in the country, a Quantum Summit will be held in Bengaluru on July 31 and August 1.A roadmap to transform Karnataka into a global quantum powerhouse will be unveiled at the summit by Chief Minister Siddaramaiah and Deputy Chief Minister D K Shivakumar, Boseraju said.With a strong content lineup, the summit will showcase cutting-edge innovations from academia, startups, and enterprises driving quantum advancements, reads the Quantum India Bengaluru, 2025 website.Attendees will explore the latest developments in quantum technologies through keynote sessions, panel discussions, and industry presentations. Exclusive industry visits to top quantum labs and companies will provide hands-on exposure to real-world applications, it added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
a few seconds ago
- Business Standard
Experion to invest $300 mn in VLIV, expands women-only co-living spaces
Experion, a managed rental housing brand, has launched its first women-only co-living space, VLIV. The company plans to invest approximately $300 million (₹2,626 crore) to build a structured, service-led rental housing ecosystem in India. VLIV is a professionally managed co-living space offering 730 twin-sharing beds. The company, a wholly owned subsidiary of Singapore-based AT Capital Group, aims to scale to 20,000 beds over the next few years, with a long-term vision of reaching 100,000 beds nationwide. 'India's rental housing has long been fragmented and inconsistent. At Experion, we believe quality living must be built on accountability and long-term value. VLIV reflects that commitment not just by offering better residences, but a dependable, professionally managed platform. India's co-living sector is projected to grow from ₹4,000 crore in 2025 to ₹20,000 crore by 2030, with organised inventory expected to triple to nearly 1 million beds,' said B.K. Malagi, Vice Chairman, Experion. The project features amenities including biometric access, 24/7 security, wellness zones, and certified kitchens. 'Anyone who's lived, worked, or even travelled abroad knows what well-managed rental housing can look like. And within India, lifestyles and aspirations have evolved. Yet people are still navigating outdated, fragmented options or paying too much for too little. With VLIV, we are not chasing disruption through noise; we are quietly reimagining rental living by raising the bar on quality of life and delivering it with consistency, care, and safety built on solid compliance,' said Vivek Raj, Chief Operating Officer, VLIV.
Economic Times
28 minutes ago
- Economic Times
IFL Enterprises board approves 12% stake purchase by Uniqube Global
Agri commodity exporter IFL Enterprises on Friday said its board has approved a proposal from Singapore-based UNIQUBE Global Managed Services to acquire a 12% stake in the company. "The board in its meeting held on August 1 approved the receipt of a proposal to acquire up to 12% equity stake in the company at a proposed price of Rs 2 per share," IFL Enterprises said in an exchange filing. The proposed strategic investment is expected to enhance the company's growth capabilities, further institutionalise its shareholding and contribute to the long-term value creation for all stakeholders, the filing strategic investment will be structured through a mutually suitable method such as preferential allotment, Qualified Institutional Placement (QIP), or a Rights Issue, it in June 2025 had raised nearly Rs 50 crore through a rights issue to shore up its capital. The Ahmedabad-based company, which deals in the agri commodity business, including import and export of agriculture produce, recently reported a two-fold jump in revenue from operations to Rs 33.41 crore for Q1FY26 from Rs 15.29 crores in Q1FY25.
Economic Times
30 minutes ago
- Economic Times
Why stock market fell today: Sensex drops 586 points, Nifty below 24,600. Here are 6 reasons behind the selloff in Indian shares
Indian shares plummeted on Friday, with the Sensex and Nifty falling sharply due to global headwinds and U.S. tariffs on Indian exports. Persistent foreign fund outflows and a strengthening dollar further pressured the market. Pharma stocks also suffered following concerns over potential U.S. price regulations. Technical analysis suggests a further downside, with key support levels being closely watched by analysts. Tired of too many ads? Remove Ads 1) U.S. tariffs on Indian exports Tired of too many ads? Remove Ads 2) Persistent FII outflows 3) Weak global market cues 4) Dollar strength intensifies pressure Tired of too many ads? Remove Ads 5) Pharma stocks under fire 6) Technicals point to further downside Indian shares ended in the red on Friday, dragged down by a combination of weak global cues, sustained foreign fund outflows, and renewed trade tensions after the U.S. imposed sweeping new tariffs on dozens of countries, including BSE Sensex shed 585.67 points, or 0.72%, to close at 80,599.91, while the NSE Nifty slipped 203 points, or 0.82%, to settle at 24, are six key factors that drove the market downturn:Investor sentiment soured after U.S. President Donald Trump signed an executive order imposing a steeper-than-expected 25% tariff on Indian goods. The order affects nearly 70 countries, although India was spared from further penalties over its Russian defence and energy deals. Still, the protectionist move has heightened uncertainty around a possible US-India trade agreement."The Indian equity market extended its decline for a second day, pressured by renewed tariff threats and punitive duties that could undermine India's global trade competitiveness," said Vinod Nair, Head of Research, Geojit Institutional Investors (FIIs) have been consistent net sellers, offloading shares worth Rs 5,588.91 crore on Thursday alone. Over the last nine sessions, cumulative FII selling has crossed Rs 27,000 crore, triggering widespread risk aversion in domestic has been further dampened by disappointing Q1 earnings and the growing dominance of short positions. FIIs have built record bearish bets, with short positions in index futures rising to 90%, the highest since March 2023. The long-to-short ratio dropped to a mere 0.11 at the start of the August series, while the Nifty rollover rate for July slipped to 75.71% from 79.53% in June."Investor sentiment weakened further as FIIs now hold the second-highest net short position in derivatives, reflecting elevated caution," said Vinod Nair, Head of Research, Geojit markets led a broad global selloff on Friday as investors digested the impact of fresh U.S. tariffs and awaited key US jobs data. Equities in India's regional peers were under pressure, with the MSCI Asia-Pacific index (ex-Japan) falling 1.5%, bringing its weekly decline to around 2.7%.Japan's Nikkei slipped 0.6%, Chinese blue chips dropped 0.5%, and Hong Kong's Hang Seng index lost over 1%. South Korea and Taiwan also traded lower after the U.S. announced steep tariffs, including 25% on Indian exports, 20% on Taiwan's, 19% on Thailand's, and 15% on South Korea' downbeat sentiment extended to European equities, with the Stoxx 600 falling 1% in early trade and headed for its worst week since April. Wall Street futures also pointed to a subdued start, weighing further on investor risk appetite dollar index surged 2.5% during the week to climb above 100, marking a two-month high and its strongest weekly performance in nearly three years. The rally has exacerbated capital outflows from emerging markets, including India, and raised the cost of foreign debt."The sharp surge in the dollar index to 100 will nudge the FIIs to continue selling putting pressure on largecaps too. Investors can adopt a wait and watch strategy," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit shares came under pressure after the White House sent letters to 17 global drugmakers urging them to cut U.S. prescription prices to match international benchmarks. The letters also called for the adoption of a Most Favoured Nation (MFN) pricing model within 60 days, raising fears of increased regulatory scrutiny and margin Nifty Pharma index fell 3.3% on Friday, extending its losing streak to a third session and closing 2.9% lower for the week. Sun Pharma was the biggest drag on the Nifty 50, slipping 4.5% after Investec downgraded the stock to 'sell' from 'buy.' Other notable laggards included Aurobindo Pharma, Cipla, Lupin and Gland a technical perspective, the Nifty remains under pressure after failing to reclaim its 200-DMA on the hourly chart, despite a brief recovery on Thursday, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the index also remained below the 50-EMA on the hourly timeframe throughout Friday's session.'On the daily chart, it has broken below the recent consolidation support at 24,600. Sentiment remains weak, with the potential for the correction to extend towards 24,400–24,450. A further decline is likely if it slips below 24,400,' De Mishra, SVP – Research at Religare Broking, said the Nifty is now approaching its next crucial support at 24,450, and a breach of this level could trigger a retest of the long-term moving average — the 200-day EMA — near 24,180. 'On the upside, the 24,800–25,000 zone is expected to act as a strong hurdle. We maintain our cautious stance and continue to recommend a hedged approach with a negative bias until clear signs of reversal emerge,' he said.
