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India might have a tech workforce of 9-10 million in next few years: Nilekani
International Desk
05 Dec 2021, 15:42
Photo: Collected
The digital acceleration in India has created tremendous growth opportunities for India’s technology companies because of the Covid-19. Holding the same thought, Nandan Nilekani, non-executive chairman of Infosys said that the number of people working in IT services and BPO industry is estimated to double in the next couple of years to around 9-10 million.
Talking about how India is at a really bright spot in the digital story, Nilekani explained three developments which are going to have an impact on India's growth and economic recovery.Starting with the growth of technology companies in India, he said, “People like Satya Nadella have said that the world spending on technology is going to move from 5% of GDP to 10% of GDP globally in the next decade or so. Which means there's going to be a huge amount of investment of technology and people into digital transformation. And in India, Indian companies are benefiting from that.”
He also hailed the growing amount of activity in the startup ecosystem in the country, which is also leading to massive job opportunities in the tech industry.
“There's a huge amount of activity in the startup ecosystem and it's estimated that the number of people in the IT services and BPO industry are about 4.5 million, and that is expected to double in the next several years. Imagine, it took us about 14 years to get to about 4.5 million people, but doubling that to 9-10 million will happen in maybe a decade,” he said at ASCENT eConclave.
He added that in the tech industry, every job recruiter creates four or five jobs in ancillary industries, such as transportation, food, and real estate.
Adding to India’s encouraging digital story, he said that India has the best digital public infrastructure in the world. Nilekani, who headed the project of UIDAI, proudly talked about the impact of creating almost 1.3 billion digital identities and the success of UPI.
“The UPI was launched barely five years back in May 2016. By October 2016, it reached about 100,000 transactions. However, in October, it did over 4.3 billion transactions and has a total transaction value of $100 billion. So, this has had a dramatic impact. Today, when I go out, every vegetable seller, every coconut seller, every small shop is taking UPI payments, and that's really been a revolution,” he said.
The third development he mentioned, which will also impact the recovery, is the account aggregator network. He explained that users will be empowered with their own data and there will be many use cases for that, the first big being lending.
“Borrowers, big businesses or individuals will be able to use their own digital footprint and get access to credit. So, if I'm a small business, I can use the data of my purchases, or my sales or my taxes paid and share the data with the lender securely. And the lender can make an instant decision to give me a loan. Right now, that system is doing a few 1000 transactions, but there's no reason why in a few years, it won't do millions of transactions in a day,” he said.
He added that this will completely change the economy because unlike in the old model where a few large companies got credit with this model, every small kirana store or a dispensary, or manufacturing company, will get credit. This, in turn, will drive job creation and economic growth.
Source: The Economic Times
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53 Killed in Gaza, 21 in Lebanon by Israeli Strikes
Israeli forces have killed at least 53 people in Gaza and 21 in Lebanon, according to Qatar-based media outlet Al Jazeera on Monday, October 28.
Of the 53 Palestinians killed, 46 lost their lives in northern Gaza, where Israel has been conducting extensive operations for the past four weeks, leaving over 1,000 dead.
Since the unprecedented cross-border attack by Hamas on October 7 last year, Israel has launched relentless air and ground assaults on Gaza, killing 42,920 people—most of them women and children—and injuring nearly 100,000.
Meanwhile, 21 people were killed in Israeli attacks across Lebanon on Sunday. Since September, over 2,500 people have died from Israeli strikes. Lebanon's Hezbollah group has claimed responsibility for killing 70 Israeli soldiers.
On September 27, Israel launched an airstrike, killing Hezbollah leader Hassan Nasrallah. In retaliation, Iran fired 200 ballistic missiles at Israel on October 1, as it is a key supporter and weapons supplier to Hezbollah.
On October 16, Israel killed Yahya Sinwar, the leader of Hamas, and two days later, Hezbollah launched a drone attack on the residence of Israeli Prime Minister Netanyahu. No casualties were reported. On October 22, Israel claimed it had killed Nasrallah’s potential successor, Hashem Safi al-Din.
Following the outbreak of the Gaza war last October, Hezbollah has occasionally launched attacks on Israel in support of Hamas. Tensions escalated after Iranian President Ebrahim Raisi died in a helicopter crash in May this year, with some suspecting Israeli involvement. In July, Israel reportedly assassinated Hamas leader Ismail Haniyeh, prompting Hezbollah to intensify attacks on Israel.
Elon Musk's 8 Top Innovations: From Tesla to SpaceX
Elon Musk is a name synonymous with innovation, often likened to the real-life Tony Stark from Marvel. Throughout his career, he has led groundbreaking projects that have transformed entire industries and promise to redefine our future. From electric cars that drive us toward sustainability to ambitious ventures in space travel, Musk's vision is nothing short of extraordinary.
Here’s a look at 8 of his most remarkable contributions that showcase his commitment to creating a sustainable and technologically advanced world! Top 8 contributions by Elon Musk:
Tesla electric vehicles
Perhaps Musk's most well-known contribution is the Tesla electric vehicle line. Under his leadership, Tesla has revolutionized the auto industry by proving that electric cars can be both high-performing and desirable. The Model 3, Model S, Model X, and Model Y have garnered attention not just for their eco-friendliness but also for their impressive technology, including Autopilot, which offers semi-autonomous driving capabilities.
SpaceX and the Falcon rockets
SpaceX is an aerospace firm founded by Musk in 2002. It aims to reduce space transportation costs to enable the colonization of Mars. The Falcon 1, Falcon 9, and Falcon Heavy rockets have set numerous records, including being the first commercially developed rocket to launch humans into orbit. SpaceX's ability to land and reuse rockets has changed space travel's economics, making it more accessible.
The Boring Company transport solutions
After being stuck in traffic in Los Angeles, Elon thought of launching a firm to address urban transportation issues. The Boring Company mainly focuses on building underground transportation systems.
Musk's vision includes a network of tunnels that could reduce traffic congestion in major cities. The company’s projects, including the Las Vegas Convention Center Loop, showcase potential solutions for metropolitan transport challenges.
Neuralink brain chips
Neuralink aims to bridge the gap between humans and machines through brain-machine interfaces. This ambitious company seeks to improve cognitive abilities and potentially help treat neurological disorders.
Recently, its first-ever brain chip implant patient Noland Arbaugh revealed how this technology helps him to communicate. By allowing direct communication between the brain and devices, Neuralink could develop revolutionary gadgets and treatments for neurologically challenged people.
Starlink's internet
SpaceX's Starlink initiative is focused on delivering global internet coverage by deploying a constellation of low-Earth orbit satellites. Designed to provide high-speed internet access, Starlink aims to connect even the most remote areas. As of September 2024, the company has reported surpassing 4 million subscribers.
With nearly 6,000 satellites in orbit and services available in approximately 100 countries, Starlink has the potential to bridge the digital divide, ensuring connectivity for remote regions worldwide.
Tesla Energy products
Musk expanded Tesla's mission beyond electric vehicles with Tesla Energy, which focuses on energy storage solutions. With products like the Powerwall and Powerpack. the firm allows residences and businesses to store solar energy for later use, promoting sustainability. Note: Tesla Energy discontinued the sale of Powerpack in 2022.
Mega Gigafactories
To support Tesla's ambitious production goals, Musk has initiated the construction of Gigafactories worldwide. These massive manufacturing plants are designed to produce lithium-ion batteries and electric vehicles at scale, significantly reducing costs and increasing efficiency.
The Gigafactory in Nevada, for example, is expected to be one of the largest buildings in the world by area and plays a critical role in Musk's vision for sustainable energy.
OpenAI Though
Musk is no longer directly involved, he co-founded OpenAI to promote and develop friendly AI for the benefit of humanity. In its early days, the organization focused on developing safe Artificial general intelligence (AGI) tools. After Elon's exit, the non-profit company soon received a $1 billion fund from Microsoft in 2019. Fast forward to today, OpenAI is one of the biggest AI startups in the world with popular AI tools such as ChatGPT, Dall-E, etc.
Closing thoughts
Elon Musk's visionary contributions are not just shaping the present—they're redefining our future! His focus on sustainability, efficiency, and cutting-edge technology opens the door to a world brimming with possibilities. While some of his projects are still in the pipeline, their potential impact is truly game-changing. As we move forward, Musk’s endeavors will undoubtedly ignite innovation across numerous fields, heading humanity toward a brighter tomorrow.
By: Aasma Khan
Gold Climbs to Record Highs in World Market
Gold hit a new all-time high (ATH) of $2,777, breaking all previous records in the world market. For the first time in the world market, the price of one ounce of gold exceeded 2,777 dollars.
On Wednesday (October 30) until 9:30 am, the price of one ounce of gold in the spot market was 2,777.78 dollars.
Traders are turning to gold as a safe-haven investment amid the Middle East conflict, volatility in the labor market, the Ukraine war, and rising odds for a Trump victory in US elections. Due to these reasons, the price of gold in the world market is on an upward trend, according to Reuters.
Bank of America, one of the leading investors in the world's financial sector, considers gold to be the most ideal investment at the moment. Michael Widmer, an expert from Bank of America recently said, "Gold is ideal for investment in the current situation. Gold is best suited to mitigate investor risk at the moment, especially as inflation and government debt continue to rise.
Predicting the continuation of the rising trend of gold prices, Bank of America said that the price of gold will rise to three thousand dollars per ounce by the first half of 2025.
Meanwhile, to deal with the inflation situation, the central banks are more inclined to buy gold to maintain the value of their currency, according to various international media. Currently, 10 percent of the world's central banks' reserves are gold. Which is just 3 percent of their total reserves even a decade ago.
From June this year, gold prices started to increase at an unusual rate. Last June 7, the price of gold per ounce was 2,293 dollars. After that, the price increased gradually, on October 18, the price of gold per ounce was 2,700 dollars for the first time in the world market. In less than a week, the price of gold per ounce increased to $2,750.
If the price increases in the world market, it affects the country's market as well. So the price can be adjusted in the country's market as well at any time.
Bangladesh Jewellers Association (BAJUS) determines the price of gold in the country's market. As such, Bajus last adjusted the price of gold in the country's market on October 22. The organization fixed the price of 22-carat gold at Tk1,41,951 after increasing the price by Tk1,890.
Besides, the price of gold was fixed at Tk1,35,501 per bhori of 21-carat, Tk1,16,138 per bhori of 18-carat, and Tk95,423 per bhori of traditional method gold. It came into effect on October 23 last.
It should be noted that the price of gold has been adjusted 44 times in the country's market so far this year. Among them, the price was increased 27 times and decreased 17 times. In 2023, the price was adjusted 29 times.
Researchers Discover Ancient Mayan City Using Laser Technology
A huge Maya city was discovered centuries after it disappeared under a jungle canopy in Mexico.
Archaeologists found pyramids, sports fields, causeways connecting districts and amphitheatres in the southeastern state of Campeche.
Experts analysed lidar data, a method of scanning the land from above using lasers.
The Maya were one of the most dominant civilisations in Mesoamerica and built cities with elaborate ceremonial buildings and massive stone pyramids in what we now know as Mexico, Honduras, Guatemala and El Salvador.
Pyramids - like those in Calakmul, in the Mexican state of Campeche - were found by researchers led by Luke Auld-Thomas from Tulane University, New Orleans.
"For the longest time, our sample of the Maya civilisation was a couple of hundred square kilometres total... by archaeologists who painstakingly walked over every square metre, hacking away at the vegetation with machetes," he said.
But instead of deploying teams on the ground, archaeologists in his team analysed existing mapping data over an area of 47 square miles.
They uncovered anomalies in the landscape - revealing pyramids, houses and other Maya infrastructure.
Their results, published in the journal Antiquity, showed a dense, diverse array of totally unstudied Maya settlements dotted throughout the region.
It included an entire city which the team called Valeriana, named after a nearby freshwater lagoon.
The urban centre included two major hubs of "monumental architecture, linked by continuous dense settlement and landscape engineering".
"We didn't just find rural areas and smaller settlements," Mr Auld-Thomas said.
"We also found a large city with pyramids right next to the area's only highway, near a town where people have been actively farming among the ruins for years."
"The government never knew about it; the scientific community never knew about it," and he predicted, "there's a lot more to be discovered".
Last year a Mexican team found an ancient Mayan city thought to date back to 1,000AD in the same region.
But unlike the US researchers, that group did not benefit from lidar technology. They trekked through 60km of roads covered in thick vegetation to discover the ancient site.
Spain's Valencia, Anadalusia Regions Hit by Deadly Floods
At least 51 people have died in devastating storms that swept through southern and eastern Spain.
Regional emergency services reported the mounting toll as rescue workers discovered additional bodies Wednesday in Valencia's flood-ravaged eastern region.
"Dead bodies have been found," confirmed Carlos Mazon, head of Valencia's regional government, who declined to provide further details out of respect for victims' families.
Torrential rains lashed several parts of southeastern Spain, causing flash floods that swept roads and towns on Tuesday.
Authorities prompted residents to take shelter at home and issued red alerts in the eastern Valencia region, with some areas such as Turis and Utiel recording 200 mm (7.9 inches) of rainfall.
Emergency rescues underway
Dozens of videos circulating on social media showed people stuck in floodwaters, with many clinging to trees to avoid being swept away.
The flash floods swept cars off roads, disrupted rail service in large swathes of eastern Spain, and interrupted flight operations. The storms also left parts of Valencia without power.
"Yesterday was the worst day of my life," Ricardo Gabaldón, the mayor of Utiel, a town in Valencia, told national broadcaster RTVE.
He said several people were still missing in his town. "We were trapped like rats. Cars and trash containers were flowing down the streets. The water was rising to three meters," he said.
A high-speed train with nearly 300 people on board derailed near Malaga, although rail authorities confirmed no passengers were hurt.
Spain's national rail operator said it had suspended all rail services in the Valencia region "until the situation returns to normal for the safety of passengers."
Schools and sporting events were shut on Wednesday, and parks remained closed.
Over 1,000 emergency response troops were deployed to the affected areas.
Police and rescue workers airlifted people facing the threat of drowning. Authorities also deployed an emergency rescue brigade of Spain's army to expedite the rescue efforts.
Modi's GatiShakti: / India's Blueprint for Transforming Third-World Infrastructure
On October 12, 2024, the Indian government announced significant advancements in the PM GatiShakti National Master Plan, marking its third anniversary since its launch in 2021.
This initiative aims to enhance infrastructure planning and execution through integrated data sharing and international collaboration. The Indian government is actively working to extend the PM GatiShakti framework beyond national borders. Diplomatic engagements are currently underway with countries including Nepal, Bangladesh, Sri Lanka, Madagascar, Senegal, and Gambia to promote the use of geospatial technology in infrastructure development.
This will be done through leveraging geospatial technology for integrated infrastructure planning in collaboration with India’s neighboring countries. A recent statement from the Indian Commerce Ministry highlighted plans to provide secure access to non-sensitive data for non-governmental users involved in developmental activities. This would help these developing and underdeveloped countries streamline their infrastructure building and inculcate the Indian best-practices to catapult their development journey.
Launched by the Indian Prime Minister Narendra Modi in October 2021, PM GatiShakti has dramatically altered how India approaches infrastructure projects. The Indian nodal ministry emphasized that the initiative has fostered a paradigm shift by integrating data from 44 central ministries and 36 states/UTs of the country, resulting in a more efficient, transparent and synchronised system. The PM GatiShakti framework employs GIS-based tools and real-time monitoring systems that support informed decision-making.
The integration of over 1,600 data layers has streamlined project execution, reduced logistics costs, and enhanced service delivery across the country. The initiative has also expanded its focus to include social sector ministries, aiming to address gaps in essential services such as healthcare and education. The platform is also integral to achieving India’s commitment to Net Zero emissions by 2070, promoting sustainable logistics solutions.
Looking ahead, PM GatiShakti aims to incorporate emerging technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) into its planning processes. This focus on technological integration is expected to further revolutionize infrastructure management in India.
The PM GatiShakti initiative is closely aligned with the National Logistics Policy (NLP), addressing critical infrastructure gaps while improving India’s logistics performance. According to the World Bank’s Logistics Performance Index Report (2023), India’s rank improved from 44th in 2018 to 38th this year, reflecting the positive impact of these initiatives. The technological sophistication and comprehensive nature of this master plan could similarly benefit the developing world, reinforcing India's role as a leader and voice for the Global South.
With the proposal to grant countries worldwide access to the Gati Shakti Masterplan, India is poised to emerge as a key player in global infrastructure development. The By sharing the best practices that have helped India navigate various challenges, this initiative could position India as a pioneer in infrastructure development. The prospect of other countries benefiting from a concept and technology developed entirely in India will further enhance the country's aspirations of becoming a 'Vishwaguru' on the global stage.
It seems that the world is taking notice of India’s success, positioning India as a role model for emerging economies. As PM GatiShakti continues its journey towards international collaboration and enhanced infrastructure planning, it stands as a testament to India's commitment to modernizing its infrastructure landscape while ensuring sustainable development for future generations, not just for India but for the whole world.
(Source: Times of Oman)
China Abuses Legal Systems to Achieve Global Domination
China employs Lawfare (distorted use of legal systems) by manipulating existing laws and creating new regulations to advance the Chinese Communist Party’s global objectives. In September, a China Coast Guard vessel deliberately collided with a Philippine coast guard ship while a U.S.-based “60 Minutes” news team was onboard.
The CCP justifies such actions under China Coast Guard Order No. 3, a domestic law allowing the Coast Guard to detain foreign vessels and individuals for up to 60 days if they are suspected of illegally entering waters claimed by China. This tactic demonstrates China’s strategic use of legal frameworks to assert control and influence.
In the same month, the House Committee on Homeland Security and the Select Committee on the CCP raised concerns about espionage and demanded that Shanghai Zhenhua Heavy Industries Company Limited (ZPMC), a state-affiliated company supplying technology and equipment to U.S. ports, disclose its relationship with the CCP. However, ZPMC stated it needed approval from the CCP under Beijing’s Data Security Law to share such information and required the committees to sign a nondisclosure agreement. These events underscore the CCP’s use of lawfare as a strategic tool against the United States and other countries.
Lawfare-the strategic use of legal systems and international organizations to achieve political or military goals without force-is a significant tactic of the CCP. As part of its “three warfares” strategy (psychological, media, and legal warfare), China leverages international treaties and national laws to further its interests. This is apparent in Beijing’s territorial claims in the South China Sea, where legal frameworks justify expanding control over territory and resources. Lawfare enables the Chinese regime to suppress dissent, shape global norms, and pressure nations to adopt its “One China” policy. By exploiting legal mechanisms, the CCP advances its strategic objectives while maintaining an appearance of legitimacy under international law.
In the South China Sea, the Chinese Communist Party (CCP) strategically employs lawfare to assert its territorial claims through the “nine-dash line,” introduced in 1947. This line is based on vague historical rights that aim to legitimize Beijing’s control over almost the entire sea, including islands and manmade structures. By leveraging legal arguments and historical narratives, Beijing seeks to strengthen its claims. Despite widespread international criticism, China has militarized these islands, enhancing its defence capabilities and exerting dominance in the region. These assertions directly conflict with the Exclusive Economic Zones (EEZs) of neighbouring nations such as Japan, the Philippines, and Vietnam, creating significant geopolitical tensions and disputes over maritime sovereignty and resource rights. The CCP’s actions highlight the complexities and ongoing conflicts in the South China Sea.
The Chinese Communist Party (CCP) dismisses both the United Nations Convention on the Law of the Sea (UNCLOS) and the 2016 ruling by the Permanent Court of Arbitration, which nullified China’s claims in the South China Sea. This rejection is rooted in the CCP’s belief that its domestic laws take precedence over international law. The Supreme People’s Court of China has declared CCP jurisdiction over all areas within its “sovereign control,” aligning with the CCP’s “core interests.” These core interests encompass state sovereignty, national security, territorial integrity, national reunification, the political system established by the constitution, social stability, and the safeguarding of sustainable economic and social development. China’s maritime disputes in the East and South China Seas with nations like Japan and the Philippines involve critical aspects of “state sovereignty,” “national security,” and “territorial integrity.”
The CCP has engaged in legal manoeuvring by asserting that China should be recognized as an archipelago state, similar to the Philippines or Indonesia. This status would allow China to treat the waters between its islands as internal waters, thereby restricting foreign transit without permission. Typically, the U.N. grants archipelago status, as it has for 22 nations, but not China. Despite this, China’s claim is consistent with its internal laws, which state that foreign military operations within China’s EEZ violate Chinese law, while China maintains the right to conduct military operations within other states’ EEZs.
China’s lawfare strategy is prominently showcased in its approach to Taiwan. Through the “One China” policy, Beijing has systematically isolated Taiwan internationally, leveraging diplomatic and legal pressure to compel countries and international organizations to recognize Taiwan as part of China. This stance aligns with China’s core interests in national sovereignty, as articulated in its Anti-Secession Law and the “One China” principle. Beijing refuses to engage in normal relations with countries that violate its internal laws concerning Taiwan. By invoking the “One China” principle, China has successfully blocked Taiwan from joining entities like the U.N. and the World Health Organization, falsely claiming this policy reflects the “general consensus of the international community.”
Moreover, the CCP has deliberately distorted and misrepresented U.N. Resolution 2758, adopted in 1971. This resolution was solely meant to transfer Taiwan’s seat in the General Assembly and the Security Council to China, acknowledging it as the “only legitimate representative of China.” It did not address Taiwan’s status as an independent nation nor declare Taiwan as part of China. Nevertheless, the CCP has used this resolution to falsely claim that the U.N. recognizes Taiwan as part of China, despite the resolution’s silence on Taiwan’s sovereignty.
With the space race between China and the United States heating up, the CCP is striving to set legal guidelines for space exploration and resource extraction. The same strategy applies to deep-sea mining and ocean floor resource rights. The CCP aims to mould international laws to serve its interests. While Beijing professes support for a rules-based global order, it intends to ensure those rules are dictated by the CCP.
The United States and its allies must take decisive action to prevent Beijing from establishing a new world order that would place the CCP in control of earth’s resources, oceans, deep-sea territories, and even extend to space, including the moon and stars.
(Source: European Times)
