Business News Live: AI services may account for almost half of Infosys’ work in 2-3 years, says CEO Salil Parekh

Live We need to start to think about regulation when it comes to AI: Mittal We are working feverishly towards setting up sovereign data cloud with which we can serve Indian enterprises, government and defence forces: Mittal Within India our focus is on data centres; sovereign cloud is becoming the next area of focus for us: Mittal We are working feverishly towards setting up sovereign data cloud with which we can serve Indian enterprises , government and defence forces: Mittal The currency has depreciated on account of supply chain disruption: Bharti Enterprise Chairman Sunil Mittal We have a had a blip on currency side over the last year and a half. The currency has depreciated on account of supply chain disruption: Mittal India does become a place which can draw a lot of investment, smaller countries like UAE and Singapore have so much capital to deploy: Mittal The bilateral trade agreements is helping India: Mittal We should not have a pessimistic view of this process of change, this was already happening: Jaishankar It is not just a world of middle powers, but a world of chokepoints. There is a tendency to weaponise: Jaishankar We should not have a pessimistic view of this process of change, this was already happening: Jaishankar We are seeing limits of power now, and a different kind of order, where shareholding is changing: Jaishankar A lot of enforcement is going to come out of consensus and understanding and self interest. That era, of someone standing there and saying do it or else, is over: Jaishankar This dichotomy of order and disorder is a false dichotomy: Jaishankar After 1945 there was a certain kind of maintenance of order. We are seeing limits of power now, and a different kind of order, where shareholding is changing: Jaishankar There is a different understanding and it may not be very neat, a bit messy: Jaishankar More than middle power, we are powers in the middle: Jaishankar More than middle power, we are powers in the middle: Jaishankar It's not a comfortable description to be defined as middle power, if you are most populous country and you have GDP of $4 trillion and you have lot of growth staring you in the face: Jaishankar India-US have a very consequential relation and it is going to get better: Goyal India's relation with the US is already very good, it is substantive and consequential for the world. They are our largest trading partner and will continue to be for the coming years: Goyal on how India's relation with the US will be under next US president. We have a very consequential relation and it is going to get better. It's a very safe relationship and I don't think rest of world needs to worry about it: Goyal We are working to develop relationship with China: Goyal We are open to all countries around the world, as long as we are assured continuity and geopolitical situation does not deteriorate. We are working to develop relationship with China but the last word has not been scripted: Goyal Technology will not be a preserve of a few countries: Goyal We need to work towards efficiencies and self sufficiency Other countries recognise the importance of technology and everybody is looking to develop supply chains. This is where friendly countries have to work together and collaborate and co-operate with each other: Goyal Technology will not be a preserve of a few countries: Goyal Some countries will provide will people or talent, others will provide market, another one will provide equipment: Goyal India has entered into FTAs with 38 developed nations over last 4-5 years: Goyal We do not believe in isolation, we have entered into FTAs with 38 developed nations over last 4-5 years: Goyal We have trade agreements covering $70 trillion of GDP: Goyal We have negotiations ongoing witn GCC, Mexico, Canada, Mercosur and Eurasia. During Covid we recognised the vulnerabilities that a nation like India had to go through: Goyal During Covid we recognised the vulnerabilities that a nation like India had to go through. We were let down miserably by all countries. We couldn't get Pfizer and Moderna. India provided medicines and food grains wherever needed: Goyal We continued with our effort to be part of globe, most countries let us down and then PM gave clarion call for atmanirbhar bharat: Goyal We finally realised that we need to be self sufficient in semiconductors: Goyal Manufacturing comes naturally to India, for about 2000 years we were world's largest manufacturer: Vaishnaw India's debt to GDP ratio reduced to 55%. We want to have an economy which stands out even during the most turbulent times: Vaishnaw Turbulence is going to be much more than what it was in the past decades. It will come from technology as well as the way financial world is moving: Vaishnaw AI would have brought inamy other disruptions in employment sector, in way services industries work: Vaishnaw Our debt to GDP ratio reduced to 55%. We want to have an economy which stands out even during the most turbulent times and which is resilient from financial, economic and technological point of view: Vaishnaw Technology will continue to remain a highly globalised sector, GVCs will be multi-country: Vaishnaw R&D is certainly a hindrance, we need to amp up and change the structure of how we do R&D spending. We need to decide which areas need more money and which need more focus and energy: Vaishnaw We want to give our trusted solution to the world: Vaishnaw I think technology will continue to remain a highly globalised sector, GVCs will be multi-country. That is the nature of this business: Vaishnaw When you look at India that is a country that is to be trusted: Vaishnaw We have no case of IP disputes with IT industry operating here for last few years and that's where trust matters: Vaishnaw So when countries and companies who are working with us, they see that track record. When you look at India that is a country that is to be trusted. That creates an environment of investment: Vaishnaw We are thinking 20 years ahead, short term goal is 3-5 years, and midterm goals of 5-10 years: Vaishnaw We have to constantly calibrate our approach, we are thinking 20 years ahead, short term goal is 3-5 years, and midterm goals of 5-10 years: Vaishnaw Materials is our biggest concern as we build India stack, that is where biggest dependencies and concentration are: Vaishnaw That ecosystem takes a lot of time and effort to build. We don't have that luxury of time where we spend 20-25 years, so we have to give that extra effort to get that capability in our country both in terms of understanding, handling, manufacturing, processing and storing them: Vaishnaw We are going methodically across products, be it semiconductors, railway systems, defence systems: Vaishnaw In the entire chip space from 2 nm to 90 nm, there is huge concentration between 20-90nm. Trust is going to be an important part of global value chain, as cyber security is an important aspect: Vaishnaw Trust in design, manufacturing and complete evaluation of the entire product: Vaishnaw What is important is that we develop the ecosystem, without ecosystem no manufacturing effort will pay off: Vaishnaw We are going methodically across products, be it semiconductors, railway systems, defence systems: Vaishnaw Ashwini Vaishnaw at Bloomberg New Economy Forum: When we talk of tech sovereignty, we are talking of critical and strategic dependence Ashwini Vaishnaw @ BNEF: we are thinking more of strategic dependencies and resilience, which products in which we should have manufacturing design within our country and in which can we be dependent on supply chain We want to be deeply embedded in value chain, and be able to add value to those parts of value chain where we can play the best role When we talk of tech sovereignty, we are talking of critical and strategic dependence: Vaishnaw Anthropic seeks rehearing of case over Pentagon's security risk branding Anthropic asked a US appeals court on Tuesday to reconsider a ruling that upheld the Pentagon's decision to label the AI company as a national security supply chain risk over a dispute about safety guardrails on its technology. Reported by Reuters AI services may account for almost half of Infosys’ work in 2-3 years: CEO Salil Parekh Parekh said the business, which includes building AI agents, coding work and modernising old technology for clients, is small relative to the company’s size but growing so fast that it could account for 20-30 per cent of Infosys’ work within a few quarters if the current pace continues. ( Read More ) Aegis Logistics to acquire majority stake in Dubai's Tristar for $809 million Adani Enterprises, Jabil sign pact for 50:50 AI hardware joint venture in India Sigma Advanced Systems partners with Munitions India to advance technology for 155 mm artillery ammunition Sigma Advanced Systems partners with Munitions India to advance indigenous course-correction technology for 155 mm artillery ammunition