Digital Economy

Nazara to invest Rs 982 cr in PokerBaazi parent firm, buy 47.7% stake

Esports company Nazara Technologies on Friday said it will invest Rs 982 crore in Moonshine Technology, which owns real money gaming platform PokerBaazi. As part of the deal, Nazara will buy a 47.7 per cent stake in Moonshine Technology for Rs 831.51 crore comprising Rs 592.26 crore cash transaction and a share swap worth Rs 239.25 crore. With the share swap arrangement, select investors and management personnel including Baazi Games, CEO and Founder, Navkiran Singh, will hold 3.17 per cent stake in Nazara Technologies. Besides this, Nazara will invest Rs 150 crore to subscribe to a 100 per cent compulsory convertible which can be converted into equity at a future date as per the agreement clause. "Nazara to invest Rs 982 crore in Moonshine Technology which owns India's leading online poker gaming platform PokerBaazi," Nazara said in a statement. "...PokerBaazi has not only emerged as the undisputed leader in online poker gaming in India but has also set new standards in user ..

India donates digital equipment worth Rs 30 cr to 200 schools in Sri Lanka

Describing it as a project for posterity, India on Saturday donated digital equipment, including 2,000 Tabs, worth Rs 300 million for use by 200 schools in the southern province of Sri Lanka. A ceremony in the southern district of Galle, attended by President Ranil Wickremesinghe and Indian High Commissioner Santosh Jha, marked a significant step towards educational modernisation, with the provision of 200 Smart Classrooms and 2,000 Tabs to 200 schools in the Southern Province. Following a request by the Minister of Health and Industry, Dr Ramesh Pathirana, the Government of India allocated Rs 300 million to the Southern Provincial Council for this project. Of the 200 selected schools, 150 are in the Galle district, while the remaining 50 are in the Hambantota and Matara districts, a statement from the President's Media Division (PMD) said. Additionally, 2,000 Tabs were distributed, with each of the 200 classrooms receiving 10 Tabs, the statement said. We deeply appreciate the supp

Indian digital economy growing at 2.8%, will reach $1 trn by FY28: IT Min

India's digital economy is growing at 2.8 per cent per annum and is expected to reach USD 1 trillion by 2027-28, Minister of State for Electronics and IT Rajeev Chandrasekhar said at an outreach programme. The minister further said the value of the IndiaAI mission will be doubled to Rs 20,000 crore from Rs 10,000 crore. The government earlier expected India to reach the USD 1 trillion-mark by 2026-27 but the target has been moved by a year due to various reasons, including the Covid-19 pandemic, he said. "Digital economy is growing at the rate of 2.8 per cent because of the vision of Prime Minister Narendra Modi. His vision laid down in 2015 has played out well. We are already the fastest growing digital economy of the world. We are aiming to be USD 1 trillion digital economy by 2027-28," Chandrasekhar said. He was speaking at "Vishesh Sampark Abhiyan" on Monday evening at Union minister Hardeep Singh Puri's official residence. The event was attended by leaders of about 300 ITs, ..

India's digital economy is growing 2.8x of GDP: Rajeev Chandrasekhar

'We are already the fastest-growing digital economy in the world, and for me, it is clear that we are aiming for a $1 trillion digital economy by 2027-28', he further added

Stakeholders seek more time for feedback on Digi Competition Bill

Industry associations say that consultations on the contentious bill should not be pushed through during the elections

Hero MotoCorp joins ONDC to enhance reach, ease accessibility for customers

Two-wheeler major Hero MotoCorp on Monday said it has joined the Open Network for Digital Commerce (ONDC) to enhance reach and convenience and provide an easily accessible digital mode to customers. The open network will initially offer two-wheeler parts, accessories and merchandise. Customers can easily discover 'Hero Genuine Parts' by using any buyer apps on the network, such as Paytm and Mystore, among others, Hero MotoCorp said in a statement. "...With ONDC Network, we have pioneered the automotive taxonomy for the auto industry, making it easier for customers to find vehicle parts and accessories to begin with. "With this initiative, Hero MotoCorp is furthering the government's Digital India mission and we will continue to bring in more innovation in this space," Hero MotoCorp CEO Niranjan Gupta said. "When brands like Hero MotoCorp embrace the Open Network, it reaffirms our vision of driving digital transformation in the country by creating a fair and efficient ecosystem for

E-commerce market to hit $325 billion by 2030, rural India to lead growth

Invest India forecasts India's e-commerce to soar to $325 billion by 2030, fueled by 500 million shoppers and a robust, low-cost internet penetration

AdaniConneX secures $1.4 bn to power its digital eco-friendly plans

The equal joint venture between Adani Enterprises and EdgeConneX plans to build 1 GW data centred

Fusion Strategy can deliver low-cost solutions to masses: V Govindarajan

Vijay Govindarajan argues that AI and real-time data should be leveraged to radically transform physical products and the companies that make them

Meta sees big opportunity in gaming industry: MD Sandhya Devanathan

According to a study by GWI, an audience research company 90 per cent of gamers who discover new games on social media, do so through Meta with Reels playing a leading role in discovery

India now distinct regional priority for Intel: Exec VP Christoph Schell

The global semiconductor industry is projected to reach a trillion-dollar valuation by 2030

India is the third largest digitalised country in the world, says expert

The study is based on 'CHIPS' framework wherein it has scored countries on five pillars - connect, harness, innovate, protect and sustain

Token tales, failure, and more

Four standout books of 2023 offer a nuanced outlook on ageing, failing, thinking and everything in between

Sirius, Adani to create JV, aims at transforming $175 bn digital economy

Sirius JV seeks deployment of cutting-edge Artificial Intelligence (AI), Internet of Things (IoT), and Secured Blockchain

Digital economy to contribute 20% of GDP by 2026: Rajeev Chandrasekhar

Union minister Rajeev Chandrasekhar on Thursday said that the digital economy will contribute 20 per cent of India's gross domestic product (GDP) by 2026. The Union minister of state for electronics and information technology, skill development and entrepreneurship was speaking at the inaugural function of Startup Conclave 2023', organised by the Gujarat government at helipad ground in the state capital. In 2014, the digital economy was around 4.5 per cent of the GDP and today it is 11 per cent. By 2026, digital economy will account for 20 per cent or one-fifth of the Indian GDP, he said. According to Chandrasekhar, targets and ambitions set by Prime Minister Narendra Modi when he launched the Digital India' programme in 2015 have transformed qualitatively as well as quantitatively our economy, our innovation ecosystem and our position as a nation in the world. India's position has transformed from being the consumer of technology for nearly three decades to being the producer of .

Need guardrails to ensure that AI can never be misused: Chandrasekhar

"We see AI as a kinetic enabler for the $1 trillion digital economy goal that we set for ourselves as a nation. So, it's a very big deal for us," said Chandrasekhar

Govt to ensure trusted supply chain for digital ecosystem: Official

India is determined to ensure a trusted supply chain for its digital ecosystem and will not compromise on the security of the internet, an IT Ministry official said on Wednesday, after the US, China and Korea raised concerns over the decision to impose import curbs on laptops and computers at a recent WTO meeting. These concerns were flagged in the meeting of the WTO Committee on Market Access. It was chaired by Renata Crisaldo of Paraguay on October 16 in Geneva. The senior IT Ministry official on Wednesday affirmed that India is determined, indeed justified, in ensuring that the digital backbone and ecosystem are trusted and without any compromise. "...We are very clear and determined that we want an absolutely trusted supply chain for the Indian digital ecosystem, and especially, when we are just going to take off, and the entire internet is going to be built on servers, clouds and data centres," the official said in response to a question on the US and Korea raising concerns ove

AI programme will enable to achieve $1 trn digital economy: Chandrasekhar

The government on Friday unveiled a report on the country's artificial intelligence programme, which it believes will be a kinetic enabler for India to achieve the goal of USD 1 trillion digital economy by 2026. Minister of Electronics and IT Rajeev Chandrasekhar said that the draft National Strategy on Robotics will be part of the multi-year India AI programme. "This is a deep, multi-year roadmap to make Indian AI work for being a kinetic enabler of the trillion dollar digital economy," Chandrasekhar said. The minister had earlier said the government plans to make India a USD 1-trillion digital economy by 2026. He said that apart from supporting the startup ecosystem, India's AI programme will focus on comprehensive skills in the country, building computer infrastructure etc. The report recommends creation of India data sets platform to be used by domestic startups and researchers, building GPU (graphical processing unit)-based computer infrastructure to provide resources for ...

G20 ministers reach consensus on definition of digital public infra: MoS IT

G20 Digital Economy Ministers have reached a consensus on the definition of digital public infrastructure, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Tuesday. The minister said that under India's Presidency, G20 Digital Economy Ministers reached a groundbreaking consensus on the manner in which digital public infrastructure (DPI) will shape the future. "This has been for the first time ever a global consensus and what ought to be the definition, the framework and the principles of Digital Public Infrastructure," Chandrasekhar said. He said Prime Minister Narendra Modi launched an intense digitalisation process in 2015 with the Digital India programme. "India has seen several DPIs that have been created. I can safely say that DPI conversations that are being held across the world and have been amplified in a sense by G20 conversations have gained momentum in the context of this Indian Presidency in the G20. "India is now a case study- a nation that has ..

Digital economy to contribute over 20% of GDP by 2026: Chandrasekhar

Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar on Thursday forecast that the digital economy will contribute more than 20 per cent of the country's GDP in 2026. Addressing the 'G20 Digital Innovation Alliance Summit' here, he said India is a preeminent nation that adopted technology very fast and has started offering solutions to the world. "The digital economy has gone from 4-4.5 per cent in 2014 of the total GDP to 11 per cent of the total GDP today. And we expect the digital economy to contribute over 20 per cent of our GDP by 2026," Chandrasekhar said. According to him, India adopted technology not just for innovation in a broader sense, but to deliver real solutions that have transformed people's lives, governance and democracy in the last few years. "This pace of digitalisation means we are now looking at every citizen, every consumer consuming digital products or services, whether it is Instagram reels or Digital Public Infrastructure