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        Technology is expected to drive greater changes in the way we live and do business,” said Omkar Rai, director general, Software Technology Park of India (STPI), ministry of electronics and technology. He was speaking at the inaugural ceremony of the 8th edition of Pune Connect 2019 organised by the Software Exporters’ Association of Pune (SEAP) on Saturday at Hyatt Regency.“The global software product industry currently stands at over USD 500 billion, of which India’s share currently is USD 8 billion. But Indian talent is growing, and we are creating world class products. We want India’s share to reach up to USD 70-80 billion by 2025,” said Rai.The event focussed on the future of technology and had three concurrent tracks – Technology NXT where panellists discussed AI and Deep Tech. Research NXT had academia and design and research speakers, while Workforce NXT panel took up the topic of future of the … [Read more...] about India’s contribution to global software product should reach USD 70-80 billion by 2025: Omkar Rai

The Brihanmumbai Electric Supply and Transport (BEST) Undertaking is among the transmission and distribution companies making the lowest losses in the country, said BEST general manager Surendrakumar Bagde. He was speaking during the BEST committee meeting on Friday. The committee members were discussing the quarterly performance of the BEST’s supply division from July to September. The undertaking had registered a transmission and distribution loss of 4.34% in September compared with 5.94% during the same month in 2018.“We have managed to install 3.5 lakh meters from April 2017 to September 2019, which has helped us improve our revenues and helped us serve our customers better,” Mr. Bagde said. Committee members, however, pointed out that as the staff members had been engaged in installing new meters, issues that had been cropping up in existing meters were not attended to. A total of 7,007 cases for display not visible (DNV) were filed during the quarter, of which … [Read more...] about BEST among companies with lowest losses: GM

San Francisco: Microsoft is suing Foxconn's Taiwanese parent company Hon Hai for the alleged failure of the consumer-electronics manufacturer to comply with a patent-licensing agreement, the media reported. The Windows-maker, in the lawsuit filed on Friday, accused Foxconn of failing to provide twice-yearly royalty reports concerning certain unspecified products and for not making royalty payments on time. "Microsoft takes its own contractual commitments seriously and we expect other companies to do the same. This legal action is simply to exercise the reporting and audit terms of a contract we signed in 2013 with Hon Hai," CNBC quoted a Microsoft spokesperson as saying on Saturday. In 2017, Foxconn had agreed to be audited by a third party - Deloitte - but the company has still not submitted any documents that were requested, the filing noted. Hence, Microsoft is suing for royalty repayment with interest, a review of Hon Hai's books and attorney fees, the report added. "Our working … [Read more...] about Microsoft sues Foxconn parent company for missing patent-licensing payments

Ashutosh Kumar, 21, has a little secret. The final-year BTech student at the Indian Institute of Technology (IIT) Madras has landed an impressive job offer from an MNC in this season of campus placements. His parents are thrilled, too. He comes from a business family — his father and his two brothers manage businesses — and they see the youngest Kumar as a welcome outlier. He, however, has other plans. In 2016, in his first year at IIT, he joined their aero-robotics club. He loved it. By the third year, when he was making drones as a pastime, his senior Pranjal Mehta — cofounder of the startup ePlane.ai — asked him to come on board. He joined as an intern, and was hooked. As the startup was incubated on campus, he would hop into their lab to work on projects between and after classes. “I had worked as a summer intern in a large aerospace US MNC. I figured large companies are not for me. Startups are exciting,” he says. Kumar has an offer to join … [Read more...] about How IIT graduates are giving up on their dollar dreams for startups and new-age tech companies

Cops book manager of Likizo Services for cheating; the firm would make people purchase memberships and not render any facilities Holiday itineraries seem like a perilous deal when agents and related companies fraudulently plunder its clients, entailing legal suits instead of a bon voyage. In one such instance, a fraud committed by Likizo Services has come to light, where the firm has duped people over domestic and international holiday packages and discount offers. A group of 16 victims have filed a complaint against the company and its directors, after which the Chaturshringi police have booked the manager. Victims have demanded a detailed investigation in the scam, claiming that the number could be larger, given the fact that its offices are in three locales — Amanora Park, Hadapsar and Baner. They said that when the consumers approached these offices for refunds, the directors allegedly shut down them down and fled away from the city. They also stopped responding to the … [Read more...] about Company dupes 16 over holiday deals, discounts