Govt

Karnataka high-level clearance committee chaired by chief minister Siddaramaiah on Friday approved an investment of Rs 2,095 crore from Wistron Infocomm, along with six new proposals and eight additional investment proposals.Wistron Infocomm has sought 15 acres of land at Narasapura industrial area in Kolar to assemble smartphones, IoT products and biotech devices. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIIM LucknowIIML Executive…

The state government will also assist companies setting up semiconductor units here in skills and training, in addition to establishing a research and development centre along with the centre of excellence.Uttar Pradesh govt has announced massive subsidies as well as exemptions for investors on setting up semiconductor units in Uttar Pradesh, under the UP Semiconductor Policy 2024.The investors will get significant subsidies on capital, interest and land along with…

The government's missive that all artificial intelligence (AI) and large language models (LLMs) must seek "explicit permission of the government" before being deployed for users on the Indian internet, has sent shock waves among companies developing LLMs, especially startups who feel it is "anti-innovation and not forward-looking".Several companies building LLMs, venture capitalists as well as experts told ET such directions can kill startups trying to build in this "hyper-active" space in which India is already late to…

The government will meet founders of startups and senior executives from Google India on Monday to hear their views on the delisting of several Indian apps from the search giant’s Play Store and find a solution. The meeting is scheduled to be held late in the day.Google has, in the interim, “agreed to restore” all the apps that it had delisted from the app marketplace since Friday, people in the know said.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB…

The government has sent an advisory to all social media intermediaries, generative AI platforms, and large language models to ensure that the responses generated by their systems should not violate IT Rules or threaten the integrity of the electoral process.In its advisory sent late on Friday, the IT ministry has also said that such platforms will have to explicitly seek permission from the government to operate in India and must offer disclaimers and disclosures of their platforms being under testing.Elevate Your Tech…

The controversy over Google's recent removal of 10 Indian apps from the Google Play Store has escalated. The Indian government has declared its strong disapproval of the delisting of homegrown apps and indicated it will not be tolerated. The dispute centres around the non-payment of service fee by these apps, leading to their removal from Google Play Store, including matrimony services like Bharat Matrimony and job search app Naukri. The government has called for a meeting with Google and the affected startups next week…

The Nigerian government is demanding at least $10 billion as retribution from Binance amid crackdown on the crypto exchange platform in desperate moves to salvage the value of the nation’s local currency. Bayo Onanuga, special adviser on information and strategy to President Bola Tinubu, made this known Friday morning in an interview with the BBC. Binance profited substantially from its “illegal transactions” in Nigeria while the nation suffered huge losses, Mr Onanuga said during the interview, monitored by…

The Nigerian government has paid over $120 million to offset some of the debts owed to the gas companies (GasCos), an official has said. The Director, Decade of Gas Secretariat, Ed Ubong, disclosed this at the ongoing 7th edition of the Nigeria International Energy Summit (NIES 2024) in Abuja on Thursday. “The arrears gas producers are owed as of last year was about $ 1.3 billion. But I am pleased that between October 2023 and the end of January, the government has paid over $120 million to offset some of that…

"We'll have to examine everything, if there is an opportunity, there is a need for it, how do the next few months look like in terms of their operations," he said in an interview, adding that the government may not look at divestment immediately.  The Union government is the largest shareholder in Vodafone Idea, India's third-largest carrier, with a 31% stake.  Mittal said the government was looking for growth in the carrier, and hoping the firm will…

The Nigerian government has detained two executives of the Binance crypto exchange platform amid efforts to stabilise the nation’s foreign exchange market and salvage the value of the local currency. Sources familiar with the matter told PREMIUM TIMES that the two executives were detained in Abuja, Nigeria’s capital, a day after they flew into the country as part of moves to negotiate with the Nigerian authorities amid a crackdown on the crypto platform. Last week, PREMIUM TIMES reported how the Nigerian…