India's Data Centre, Myntra, Paytm, NBCC's sale, Google, Gold, etc.

Author

Vaishali Sharma
March 28, 2024

Tech Titans Woo India's Brightest Minds with Hefty Internship Stipends

  • High Stipends for Interns: Engineering students in India are getting internship stipends of Rs 1 lakh or more from leading tech firms like Amazon, Google, and Microsoft.

  • Demand for Skilled Engineers: The trend reflects the high demand for skilled engineers in areas like data science, cloud computing, and analytics.

  • Significant Increase in Recipients: Institutions like IIT Mandi and RV College of Engineering have seen a marked increase in students receiving these high stipends.

  • Path to Full-Time Employment: Many internships lead to full-time roles, with companies offering significant salary packages.

  • Competitive Selection Process: Companies prioritize technical skills, problem-solving abilities, and a learning mindset in their selection.

  • Record Compensation Offers: Some students have received job offers with compensation exceeding Rs 50 lakh per annum post-internship.

Investing in India's Data Future: A Rs 50,000 Crore Journey to Doubling Capacity

  • Data center capacity in India to double to 2 GW by 2026 with Rs 50,000 crore investment.

  • India contributes 20% to global data but has only a 3% share in global data center capacity.

  • Growth driven by data localization, tax incentives, and cost-saving measures.

  • Key challenges include land and equipment availability and vendor management.

  • Industry sees rising setup costs, with significant revenue and absorption rate increases.

  • Emphasis on renewable energy and low carbon tech for sustainable growth.

  • Market to become more competitive, reducing dominance of top five players.

Briefs, You Can’t Miss:

  1. Court Sets April 3 for Liquor Policy Case, Kejriwal’s Interim Relief Denied. 

  2. India Faces 90% Drop in Gold Imports as Prices Skyrocket in March.

  3. $1 Billion Power Transmission JV Announced by Sterlite and GIC. 

  4. Partnership Between IIT Kharagpur and Jindal Stainless to Boost Metallurgy Research. 

  5. NBCC’s Major Sale: 4.8 Lakh Sq Ft at Delhi’s World Trade Centre for Rs 1,905 Cr.

  6. 5,000 New Vehicle Charging Stations by 2024, a Joint Venture of Tata Motors and HPCL.

  7. Audi Opens New Pre-Owned Car Facility in Guwahati. 

  8. Vodafone Idea’s Latest Launch: Vi Movies and TV App for Unified Entertainment.

  9. IT Sector Rebounds with 50% Increase in Hiring Mandates in February.

  10. Myntra Reports Positive EBITDA for Consecutive Two Quarters.

  11. Zoomcar Enhances Supply Side, Plans More Car Inclusions via Partnerships.

  12. Paytm and HDFC Bank to Partner for Merchant Acquisition This Week.

  13. KYC Update Required by March 31 for MF Investors to Avoid Transaction Freeze.

World Briefs

  • Sharechat Secures $49 Million in Debt Financing from Lightspeed, Tencent. 

  • Google Eliminates Over 5.5 Billion Ads in 2023 for Policy Violations.

  • KuCoin Hit with US Charges Over Anti-Money Laundering Shortcomings.

  • Indonesian Startup Qoala Lands $47M From PayPal in Funding Round.

  • Rabbit Integrates ElevenLabs Technology for Advanced Voice Command Features.

AI Briefs

  • Artificial Intelligence Threatens 8 Million UK Jobs, Public Policy Institute Alerts.

  • Engineering Students Advised to Gear Up for AI-Driven Future, Says AICTE Head, G. Viswanathan.

  • Accenture’s Strategic Investment in Sanctuary AI Aims to Integrate Robots in Workplaces.

  • Adobe and Microsoft Collaborate to Equip Marketers with Generative AI Tools.

  • EU Demands Facebook, TikTok, and other social media sites to Label AI-Generated Deepfakes.