Modi 3.0 Focus, Infosys, Astrotalk, Nvidia, Tata Steel, Wix, eBay, etc.

Market Briefs

Main Briefs

NDA's Third Term Sparks Industry Optimism for Electronics and Semiconductor Growth

• NDA government re-elected, sparking optimism in electronics and semiconductor sectors.

• Industry leaders foresee reduced reliance on China and increased global competitiveness.

• Previous $10 billion semiconductor package supported by Tata Group, CG Power, and Micron.

• Anticipation of new incentives for end-to-end design and manufacturing of semiconductor chips.

• Market reaction: Dixon Technologies' stock volatility reflects industry confidence in government stability.

• Government's target: $300 billion in electronics production by 2025-26, supported by PLI schemes.

• Apple plans to significantly increase iPhone production in India, aiming for $40 billion in the next 4-5 years.

• Emphasis on transitioning from import substitution to an export-led model for electronics production.

Re-Elected Modi Government Aims to Boost Startup Ecosystem and Funding

• Startup founders and VCs optimistic about Modi government's third term.

• Calls for repealing the angel tax and establishing a Rs 50,000 crore startup fund.

• Angel tax regime taxes premium paid by investors as income at about 31%.

• NDA manifesto includes 19 mentions of startups, focusing on regulatory simplification and ecosystem expansion.

• Government aims to promote startups in manufacturing, defense, drones, and electric vehicles to generate employment.

• Digital ecosystem challenges like cybersecurity and financial literacy expected to be addressed.

• Expansion of Startup India Seed Fund Scheme and Startup Credit Guarantee scheme anticipated.

• Plans to strengthen startup involvement in government procurement and create a national geospatial data registry.

Briefs, You Can’t Miss:

1. Television Rates on the Rise: Channels Plan 5-8% Price Increase.

2. Infosys Hiring Falls 76% in FY24 with 11,900 New Graduates.

3. Bengaluru Airport Introduces Electric Taxi Service for Travelers.

4. India Needs Rapid, Sustainable Economic Growth, Says Jairam Ramesh.

5. Astrotalk Secures $9.5 Million Funding from Elev8 Venture Partners.

6. India's First Biometric Self-Bag Drop Launched at Bengaluru Airport.

7. India’s Exports to Netherlands Surge, Making It 3rd Largest Destination.

World Briefs

• Ghana Pushes Back Against Mukesh Ambani's Exclusive 5G Agreement.

• 1,000 Employees Laid Off as Microsoft Restructures Two Teams.

• iOS 18 Update: Apple and OpenAI Plan ChatGPT Integration for Siri.

• Legal Victory for Elon Musk as Australia Drops Case Against X.

• Tata Steel's UK Workforce to Shrink by 2,500, CEO Announces.

• Tata Steel Plant Cleanup in Netherlands Estimated at $3 Billion.

• Nvidia Surpasses $3 Trillion, Overtakes Apple in Market Value.

AI Briefs

• AI Teammates Launched by Asana to Assist Human Workers.

• eBay’s Latest AI Tool Enhances Product Backgrounds.

• New AI-Powered Knowledge Base by ClickUp Takes on Notion and Confluence.

• Wix’s AI Tool Revolutionizes Smartphone App Development.

• Stability AI Debuts Revolutionary Sound Generation Technology.

• Oppo Launches AI Centre in China, Introduces Over 100 Generative AI Features.

Company Of The Day

Company Name: AstroTalk

Founder: Puneet Gupta

Year Of Foundation: Oct 18, 2017

Headquarter: Noida, Uttar Pradesh, India

Industry: AstroTalk is a platform to consult best Astrologers of India online, on-call, or through chat.

Why Is It in the News?

AstroTalk, an online astrology platform, has secured an additional $9.5 million in funding for its Series A round from its current investors Left Lane Capital and Elev8 Capital.