Author: Bhakti Narayanan

Maryland Governor Wes Moore has unveiled his selections for the Governor’s Commission on South Asian American Affairs. This commission is entrusted with advising the administration and state entities on matters concerning Maryland’s growing South Asian American community. Heading the commission is Gurpreet Takhar, CEO of Tru Health Now, overseeing community health centers. Other Indian-origin appointees include Arti Bhatt, Raj Borsellino, Kausik Das, Preeti Emrick, Preeti Menon, Nivea Ohri, Sushma Potluri, Amarjeet Sandhu, Devang Shah, Harshid Shah, Aman Shergill, and Archana Thakkar. Takhar, CEO of Tru Health Now, manages community health centers. Bhatt specializes in diversity at the Public Company Accounting…

India is anticipated to maintain its position as the world’s fastest-growing major economy in 2024, buoyed by strong consumer demand driving increased investments across various sectors. The Associated Chambers of Commerce and Industry of India (Assocham) highlighted this trend, emphasizing growth in construction, hospitality, and critical infrastructure like railways and aviation. The country has sustained its status as the fastest-growing major economy, with an impressive 7.6% GDP expansion in the first half (April-September) of 2022-23. This surpasses expectations and exceeds the Reserve Bank of India’s projection of 6.5%. Official data released on Thursday indicates significant improvement compared to the previous…

In the year 2023, Savills India reported a significant upswing in the industrial and logistics sector, with absorption reaching 49.4 million sq ft—an impressive 6.7% growth compared to 2022’s absorption of 46.3 million sq ft. Notably, Tier-I cities accounted for 75% of this absorption trend, with Tier II and III cities contributing the remaining 25%. The emergence of these latter cities as vital sourcing hubs has notably improved distribution efficiency. The heightened demand in manufacturing and retail, coupled with sustained requirements from the 3PL sector, has been the driving force behind this absorption trend. Mr. Srinivas N, the Managing Director…

Tufts University’s business school, the Fletcher School, has identified India as possessing significant potential in Artificial Intelligence (AI), ranking it 15th among the top 25 AI nations. The research, led by Mr. Bhaskar Chakrovorti, analyzed four key drivers of AI development, including data accumulation, regulatory frameworks, capital considerations, and innovation indicators. India’s 15th position places it ahead of countries like Brazil, Argentina, Mexico, Turkey, and Thailand, highlighting its substantial standing in the AI landscape. India’s status as the second-fastest-growing data pool, following only Indonesia, underscores its noteworthy potential in AI. With the world’s largest mobile data pool, India has a…

Economists project a 6.7% growth rate for the Indian economy in the fiscal year 2023-24, indicating resilience amidst external challenges. This estimate, provided by 11 economists, demonstrates crucial support from domestic demand and increased investments. Although it represents an improvement from the prior month’s 6.3% estimate, it slightly lags behind the recent Reserve Bank of India (RBI) forecast. The RBI raised its growth projection to 7%, citing a better-than-expected 7.6% GDP increase in the September quarter. The first-half growth for the fiscal year reached 7.7%, with the government expected to release initial advance estimates on January 5. Despite the positive…

Researchers from MIT, Harvard University, and the University of Washington collaborated to enhance the training of AI agents, introducing a groundbreaking technique called Human Guided Exploration (HuGE). Spearheaded by MIT’s Assistant Professor Pulkit Agrawal, the research showcased a scalable and efficient approach to robotic learning, with the potential to revolutionize skill acquisition for robots. Unlike traditional reinforcement learning relying heavily on expertly designed reward functions, HuGE adopts a unique strategy by leveraging crowdsourced feedback from nonexpert users globally. Agrawal, leading the Improbable AI Lab in MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL), highlighted the challenges in designing reward functions…

In a significant development, Reliance Industries Ltd (RIL) and Walt Disney have formally agreed, through a non-binding term sheet signed in London, to forge ahead with their joint venture to establish the largest media and entertainment conglomerate in India. Led by Mukesh Ambani’s group, the merger is structured as a 51:49 stock-and-cash deal, aiming for completion by February after necessary commercial and regulatory approvals. Kevin Mayer, a former Disney executive, and Manoj Modi, a close aide to Ambani, played key roles in the negotiations during the signing of the term sheet, which followed last week’s confirmatory due diligence. Following the…

The US Department of State has unveiled a pilot program for H-1B visa domestic renewal, accepting applications from January 29 to April 1, 2024. Initially limited to 20,000 participants, eligible applicants must hold visas issued by the US Mission in Canada (January 1, 2020, through April 1, 2023) or the US Mission in India (February 1, 2021, through September 30, 2021). The federal register outlines criteria and excludes dependent H-4 visa holders from qualifying. Emphasizing the impact on US industry partners, the program prioritizes H-1B principal applicants, addressing potential travel challenges for those with expired visas. Applicants can submit with…

In November 2023, investments in mutual funds through systematic investment plans (SIPs) achieved a record high, totaling US$ 2.1 billion (Rs. 17,073 crore). This marked the continuation of a noteworthy trend, where each of the last five months, starting from July 2023, surpassed the previous record of SIP inflows in the subsequent month. The cumulative SIP inflows in mutual funds for the first 11 months of 2023, concluding on November 30, amounted to an impressive US$ 20 billion (Rs. 1,66,131 crore). This showcases a substantial increase of 22.23% compared to the corresponding period last year. The consistent surge in SIP…

Prime Minister Narendra Modi articulated his commitment to propel India into the third-largest global economy during his consecutive third term. Inaugurating various development projects in Uttar Pradesh, valued at over $2.289 billion USD, covering railways, electricity, roads, water supply, and Ganga river ghats, Modi emphasized the integral role of Kashi’s development in India’s progress. Mr. Modi reiterated his focus on four categories: youth, farmers, the poor, and women, asserting that strengthening these pillars would fortify the nation. Purvanchal’s historical neglect was acknowledged, and Modi pledged devoted service to the region with the support of Kashi’s people and Mahadev’s blessings. Participating…