Latest news with #MinistryofElectronicsandInformationTechnology
Mint
9 hours ago
- Business
- Mint
TCS layoffs: IT Ministry in touch with tech company, keeping close watch on situation
The Ministry of Electronics and Information Technology is keeping an overwatch on Tata Consultancy Services' (TCS) decision to lay off more than 12,000 employees, reported the news agency PTI, citing people aware of the development on Monday, 28 July 2025. The Ministry has its focus on the nation's employment growth with initiatives like Employment Linked Incentive, which can boost the job creation in the Indian economy, while focusing on skilling and reskilling, according to the people cited in the news report. The Ministry is reportedly concerned and will look into why the lay offs are happening to understand the underlying cause of concerns in the IT major. India's largest IT company, TCS, on Sunday, 27 July 2025, announced its plans to reduce its workforce by 2% or roughly over 12,000 employees in its 2026 financial year, according to multiple media reports. The layoffs will be focused on middle and senior management employees, as per the latest reports. The IT firm's workforce was at 6,13,069 people as of the April-June quarter of the financial year 2025-26. TCS said that the job cut move is a part of a broader strategy to become 'future-ready' and focus on technological investments, AI developments, market expansion, etc., reported the news agency, citing the official statement. The company is also retraining and redeploying staff to become more agile and future-ready amid rapid technological disruptions, particularly in Artificial Intelligence (AI). 'Towards this, a number of reskilling and redeployment initiatives have been underway. As part of this journey, we will also be releasing associates from the organisation whose deployment may not be feasible. This will impact about 2 per cent of our global workforce, primarily in the middle and the senior grades, over the course of the year,' the company said, as per the report. The IT major also said that the company will provide appropriate benefits, outplacement, counselling, and support to the impacted employees due to the job cuts. TCS employee attrition rate for the April-June quarter jumped 13.8% on a last twelve-month (LTM) basis, marking a marginal rise on a quarter-on-quarter (QoQ) basis, compared to its 13.3% levels in the January-March quarter of FY 2024-25, Mint reported earlier.
India.com
2 days ago
- Business
- India.com
Indias Startup Wave Merges AI With Tradition For Smarter Daily Solutions
New Delhi: As Artificial Intelligence (AI) continues to evolve, a new wave of Indian entrepreneurs is finding innovative ways to integrate the technology with traditional tools, transforming everyday experiences into smarter, more efficient solutions. From note-taking to productivity, these startups are reimagining the familiar through the lens of technology. Their efforts are not only capturing the attention of users but are also gaining recognition from government bodies and international platforms alike, marking India's growing presence in the global innovation landscape. Many such solutions were showcased at the recently concluded 25th edition of the Gifts World Expo in the national capital. Hyderabad-based ReNote AI, which has built smart reusable notebooks integrated with an AI-powered mobile app that transforms handwritten notes into editable, searchable digital text, says the expo is helping the company attract new customers. Interestingly, these enquiries are also revealing new use cases for its engineering and design team. Suman Balabommu, Founder of ReNote AI, said, "While exhibiting here, multiple people came up with different use cases. So I got the opportunity to explore several new applications as well." Recognised by the Ministry of Electronics and Information Technology (MeitY) and Google as one of the top 100 Indian mobile apps, the startup has also showcased its innovation at the Gulf Information Technology Exhibition (GITEX) in Dubai and the Osaka World Expo. Speaking about what attracts foreign buyers to the company's solution, Balabommu said that scientific studies have proven writing on paper improves focus, memory, and creativity. "ReNote AI preserves these benefits while eliminating the limitations of traditional notebooks. Inspired by these findings, we are gaining recognition on global platforms," he added. "Compared to India, other countries are showing greater preference. When I exhibited in Dubai, people saw great opportunities. Many were ready to invest in the products and help expand the business in the UAE and beyond," Balabommu added. ReNote AI's reusable smart notebook, powered by AI and cloud syncing, reduces paper waste and ensures your notes remain safe for a lifetime—all while being environmentally conscious. "ReNote AI is not just a product; it's a movement to bring back a culture of mindful, healthy, and sustainable writing," he said. ReNote AI utilises artificial intelligence to convert handwriting into text in real time and provides AI-powered summaries for instant insights. With features such as multi-language translation, automatic task and calendar syncing, and sketch-to-image generation through generative AI, Indian startups are showcasing their growing ambition to blend AI with traditional tools.
Time of India
3 days ago
- Business
- Time of India
India open to sharing AI models with Global South: MeitY secretary
India is open to sharing its artificial intelligence models with the Global South, S Krishnan , Secretary at the Ministry of Electronics and Information Technology, said at FICCI's conference Bhashantara 2025 on Friday. Speaking at the conference, the secretary emphasised that India's language technology ecosystem is so diverse that it has the potential to lead global AI development, stating, "If you can do it in India, you can do it practically anywhere else in the world." India's intent to share AI models with the Global South stems from discussions with UN officials, who expressed interest in the country's collaborative approach to artificial intelligence development. It positions India as a potential alternative to other AI ecosystems, offering solutions designed explicitly for multilingual, resource-constrained environments. The government's India AI Mission has established AI Kosh, a data repository containing more than 400 databases, designed to support researchers and entrepreneurs developing multilingual AI solutions . Krishnan highlighted Mission Bhashini and Anuvadini as key programmes advancing language technology, with particular emphasis on capturing regional dialects rather than just major languages. India is also digitising traditional knowledge, including Ayurvedic texts and historical manuscripts, to create comprehensive datasets for global healthcare and research communities. Unlike other nations that rely solely on state or private funding, India's approach encourages multi-stakeholder participation across academia, industry and research institutions. Industry leaders at the conference outlined specific requirements to accelerate India's multilingual AI capabilities whilst committing to enhanced private sector contributions. Harsh Dhand, Research and AI Partnerships APAC lead at Google and Co-Chair of FICCI's Multilingual Internet Committee, presented three key requests to government: unlocking historical data from institutions like Prasar Bharathi and All India Radio, broadening the definition of "Make in India" to "Made in India by India for India," and, connecting research entities to prevent duplication of efforts and better resource utilization. Dhand also outlined that the industry must contribute through access to technology, seed funding for startups and academia, and skilling. The conference highlighted India's progress in democratising internet access through local language domain names, with Ajay Data, Chairman of FICCI's Multilingual Internet and Universal Acceptance Committee, noting that domain names are now available in all official Indian languages. With more than 6 billion people globally not speaking English as their primary language and India home to 19,500 languages and dialects, Data emphasised the vast commercial opportunities that lay ahead. Sandeep Nulkar, Co-Chair of FICCI's Multilingual Internet Committee and Founder of BITS Technologies, emphasised the conference's significance in concluding remarks: "We are no longer debating the possibility of a multilingual internet. We are actually mobilising around its urgency, not only in an academic manner, but also in a demographic and development and economic perspective."
Economic Times
3 days ago
- Business
- Economic Times
Rare earth shortage hits electronic component companies
Agencies Uncertainty over rare earth mineral supply has led some applicants under the Electronics Component Manufacturing Scheme (ECMS) to warn the government that they may miss incentive-linked targets for the first year, if shortages persist for another six applications under the scheme have surged past 110 now, at least 10 firms have sounded out worries at a time when the industry is keen on expanding its production and export footprint, officials at the Ministry of Electronics and Information Technology (MeitY), and industry executives told ET. For certain components, some firms plan to import, rather than make them locally, a person aware of the development said. "Companies have expressed concern, but within the sector, it isn't an alarming outcry. If there is a component that uses rare earth, instead of importing that rare earth and making that component in India, they will simply import that component," the person said. "There are other options like alternate sources of supply, or alternate technologies that don't use rare earths." The timing of the mineral scarcity due to curbs placed by China has been a challenge. "The ECMS has been unveiled at a time when many entities want to scale up and take advantage of exports," said Ashok Chandak, president of the India Electronics and Semiconductor Association (IESA). "Beyond the traditional industry base, many Indian companies are diversifying into component manufacturing. But the industry has been particularly impacted by the supply shocks in rare earth magnets," he ₹22,919 crore scheme aims to create a strong domestic manufacturing ecosystem for a range of components that are fundamental building blocks in nearly all modern electronic devices. These include bare components such as Multi-layer Printed Circuit Board (PCB) and Li-ion cells for digital applications, passive components like resistors, capacitors, and inductors, as well as display and camera module was opened for applications in May, a month after China imposed strict export controls and licensing requirements for rare earths, of which it controls over 90% of the global processing capacity and the largest reserves. PCBs in focus Officials said PCBs have found key interest from applicants. "The scheme has seen strong interest from the PCB industry since this is the first time we have gotten some mileage. It addresses not only multi-layer, but also high-density interconnect boards. But given what is going on right now (globally), it is very difficult to hit the targets. The government has promised all support," said KS Babu, secretary, Indian Printed Circuit Association (IPCA).He also highlighted that the scheme does not address the complete absence of local production of essential raw materials like copper clad laminates, which are currently imported entirely from China. "Chinese suppliers are now taking advantage by squeezing prices, citing problems with shipments," Babu said. Set to be implemented over six years from FY26 through FY32, the scheme has a one-year gestation period for FY26 in case of turnover-linked incentives. "It's only natural that MSMEs who are arranging these large sums for investment want to receive it as soon as possible. Informally, the government has assured it will be lenient during final verification and claim approval once ECMS starts by making the process to claim incentives," said a top Delhi-based PCB Centre will be extending the application window for the scheme beyond the initial three-month period, which is set to end on 31 July, MeitY sources confirmed on Thursday. The decision was taken after industry bodies had asked for the same. "Many of the smaller companies who are interested, have to establish channels for sourcing materials, set up joint ventures, and secure technology," Babu said. Industry insiders are also hopeful of a resolution in the coming months. "China also can't afford to continue an export ban for long, since their companies will begin bleeding and it will place a long term strain on their relations with many countries," Chandak stressed. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Can Chyawanprash save Dabur in the age of Shark-Tank startups? Piaggio sues former employee for 'Coldplay' reference on CEO Why Air India could loom large on its biggest rival IndiGo's Q1 results Can medicines inject the vitamins Amazon is missing? How India's oil arbitrage has hit the European sanctions wall Stock Radar: Bajaj Finance breaks out from falling supply trendline; likely to hit fresh highs above Rs 1,000 Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus These large- and mid-cap stocks can give more than 25% return in 1 year, according to analysts For investors with patience & cash: 6 large-caps with strong balance sheets & big TAM; and an upside potential of more than 24%
Time of India
3 days ago
- Business
- Time of India
Rare earth shortage hits electronic component companies
Academy Empower your mind, elevate your skills Uncertainty over rare earth mineral supply has led some applicants under the Electronics Component Manufacturing Scheme ECMS ) to warn the government that they may miss incentive-linked targets for the first year, if shortages persist for another six applications under the scheme have surged past 110 now, at least 10 firms have sounded out worries at a time when the industry is keen on expanding its production and export footprint, officials at the Ministry of Electronics and Information Technology (MeitY), and industry executives told certain components, some firms plan to import, rather than make them locally, a person aware of the development said."Companies have expressed concern, but within the sector, it isn't an alarming outcry. If there is a component that uses rare earth, instead of importing that rare earth and making that component in India, they will simply import that component," the person said."There are other options like alternate sources of supply, or alternate technologies that don't use rare earths." The timing of the mineral scarcity due to curbs placed by China has been a challenge."The ECMS has been unveiled at a time when many entities want to scale up and take advantage of exports," said Ashok Chandak, president of the India Electronics and Semiconductor Association (IESA)."Beyond the traditional industry base, many Indian companies are diversifying into component manufacturing. But the industry has been particularly impacted by the supply shocks in rare earth magnets," he ₹22,919 crore scheme aims to create a strong domestic manufacturing ecosystem for a range of components that are fundamental building blocks in nearly all modern electronic devices. These include bare components such as Multi-layer Printed Circuit Board (PCB) and Li-ion cells for digital applications, passive components like resistors, capacitors, and inductors, as well as display and camera module was opened for applications in May, a month after China imposed strict export controls and licensing requirements for rare earths, of which it controls over 90% of the global processing capacity and the largest said PCBs have found key interest from applicants. "The scheme has seen strong interest from the PCB industry since this is the first time we have gotten some mileage. It addresses not only multi-layer, but also high-density interconnect boards. But given what is going on right now (globally), it is very difficult to hit the targets. The government has promised all support," said KS Babu, secretary, Indian Printed Circuit Association (IPCA).He also highlighted that the scheme does not address the complete absence of local production of essential raw materials like copper clad laminates, which are currently imported entirely from China. "Chinese suppliers are now taking advantage by squeezing prices, citing problems with shipments," Babu to be implemented over six years from FY26 through FY32, the scheme has a one-year gestation period for FY26 in case of turnover-linked incentives."It's only natural that MSMEs who are arranging these large sums for investment want to receive it as soon as possible. Informally, the government has assured it will be lenient during final verification and claim approval once ECMS starts by making the process to claim incentives," said a top Delhi-based PCB Centre will be extending the application window for the scheme beyond the initial three-month period, which is set to end on 31 July, MeitY sources confirmed on Thursday. The decision was taken after industry bodies had asked for the same. "Many of the smaller companies who are interested, have to establish channels for sourcing materials, set up joint ventures, and secure technology," Babu insiders are also hopeful of a resolution in the coming months. "China also can't afford to continue an export ban for long, since their companies will begin bleeding and it will place a long term strain on their relations with many countries," Chandak stressed.
