Latest news with #Dutta
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Business Standard
2 days ago
- Business
- Business Standard
AWS plans to add $23 bn to India's GDP by 2030, says Sandeep Dutta
Amazon Web Services (AWS) plans to contribute $23.3 billion towards India's gross domestic product (GDP) by 2030 while supporting over 1.31 lakh jobs annually, a senior executive from the company said on Thursday. This announcement comes as the cloud infrastructure provider prepares to invest $12.7 billion by the end of 2030 to meet the growing demand for cloud services and artificial intelligence (AI) in the country. 'We're all aware that India is on the cusp of becoming a $1 trillion digital economy. As AWS, we continue to deepen our commitment towards India,' said Sandeep Dutta, president of India and South Asia, AWS. He was speaking at the AWS Summit in Mumbai. 'We are continuously working with the government and the industry to find opportunities to mitigate India's skill gap. Since 2017, AWS in India has trained more than 5.9 million people on cloud and related skills,' Dutta added. He also revealed that the company plans to install more than 200 billion smart meters in India by 2030. 'Over the course of the next few years, we will install in excess of 200 billion smart metres in India. Why? The objective is very clear. We intend to bring down, as a country, our technical and commercial loss levels from the current trajectory of 13.8 or 14 per cent to 7 per cent in the next five to six years,' he explained. Dutta noted that every 100 basis points of loss reduction could potentially add ₹4,500 crore to the country. Smart meters are capable of digitally tracking real-time usage of electricity, gas or water, and transmitting the data directly to utility providers. AI push This highlights the growing importance of Chief AI Officers (CAIOs) in accelerating adoption and managing implementation complexity. The report added that another 15 per cent of organisations polled were planning to appoint such executives by 2026. With generative AI (GenAI) emerging as the top budgetary priority—followed by security and compute—companies are increasingly formalising AI leadership roles. The study also found that 43 per cent of organisations had fully integrated GenAI into their workflows. 'GenAI adoption in India is near universal, with 98 per cent of organisations using GenAI tools, and 95 per cent actively experimenting to unlock new applications,' the study noted. The findings are based on responses from 415 senior IT decision-makers in India across sectors including financial services, information and communications technology, manufacturing and retail.
Yahoo
4 days ago
- Business
- Yahoo
Markets think the Fed is certain to keep rates steady this week. Why 3 experts say that could be a mistake.
The Fed is expected to leave interest rates unchanged on Wednesday amid inflation concerns. However, some economists are more concerned about weakness in the labor market. Market experts worry the Fed may delay rate cuts, risking economic growth and stability. Markets see the result of Wednesday's Federal Reserve meeting as largely a foregone conclusion, predicting a more than 99% chance that the central bank will keep rates steady, but some fear the central bank is going to wait too long to make its move. Relatively subdued inflation prints in recent months are giving the Fed reason to be optimistic, but inflation hasn't fallen quite enough for it to cut borrowing costs as officials await more data that could impact prices. Tariff worries are still lingering, and now, concerns about the cost of crude oil due to the Israel-Iran conflict have added another reason for the Fed to worry about the path of inflation. Yet, some strategists are wondering if the Fed is making a mistake, similar to what some interpreted as an error last September when it cut rates by 50 basis points. At that time, critics said the jumbo cut was the result of officials playing catch-up. Powell is also under political pressure to cut rates, as President Donald Trump has repeatedly criticized Fed chairman Jerome Powell and threatened to fire him. Just last week, the president called Powell a "numbskull" for not lowering interest rates. The market is pricing in one to two rate cuts in 2025 and two cuts in 2026. Here's why some market experts are raising concerns about the Fed's hesitation to loosen monetary policy. Dutta's not expecting a re-acceleration in inflation, but that doesn't mean the outlook for the economy is rosy. Dutta's biggest concern is the labor market, which has shown signs of weakness and rising unemployment. Jobless claims are rising, hiring rates are slowing, and wages are remaining stagnant. Back in March, the Fed predicted that the unemployment rate would be 4.3% by the end of 2026. Now, market consensus sees unemployment rising to 4.6%. A growing unemployment gap could pose a serious threat to the economy, and Dutta believes the Fed is not paying enough attention to it. "Based on the unemployment rate, they should be penciling in more cuts for 2026," Dutta said on a webinar Monday. Dutta's less concerned about a resurgence in inflation due to household budget constraints. Home prices have come down, meaning that Americans' net worth is falling as well. This tends to result in higher savings rates and less spending, keeping inflation subdued. "The Fed is essentially conditioning itself to be behind the curve right now," Dutta said. Tariff uncertainty is clouding the rate cut outlook for this year, Roland and Miskin believe. If it weren't for inflation concerns surrounding the trade war, the co-chief investment strategists believe that the Fed could already be initiating cuts, as inflation has been steadily cooling over the last several months. But for now, the Fed is in wait-and-see mode as the central bank monitors for signs of a tariff-induced inflation spike. Roland and Miskin predict that the Fed will most likely wait until its Jackson Hole meeting in August before giving a clearer signal about its plans to cut rates this year. For Wednesday, they expect the Fed to lower its core PCE inflation estimate but keep its real GDP estimate unchanged. The strategists see some level of concern in the labor market: initial jobless claims were 248,000 for the week ending June 7, and continuing jobless claims are continuing to rise. "It is hard for the Fed to be data dependent and wait and see for months on the potential impact of tariffs. They are likely discounting the data like the markets, but that is a recipe to get behind the curve in our view," Roland and Miskin wrote in a note on Monday. Mocuta believes the Fed should lower rates this summer to maintain US economic growth. Today's rate cut situation reminds Mocuta of the Fed's hesitance to cut last year and the resulting 50 basis-point cut in September of 2024. Similar to Dutta, she's more worried about the labor market piece of the dual mandate than inflation. "The reason why I do think the Fed should cut despite tariffs is that the labor market and the economy overall is at a much more delicate point to date than a year ago," Mocuta said on Yahoo! Finance last month. Mocuta warned that labor demand continues to weaken, and some catalysts, such as the DOGE cuts to federal employment, won't show up in the hard data until later this summer or fall. Cutting too late could increase the risk of a recession. "The economy avoids recession if consumer spending remains strong and that can only happen if the labor market remains strong," Mocuta said. While Mocuta acknowledged that the Fed needs to keep inflation subdued, she believes it's better to have above-target inflation to prevent a recession rather than the other way around. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
5 days ago
- Business
- Business Insider
Markets think the Fed is certain to keep rates steady this week. Why 3 experts say that could be a mistake.
Markets see the result of Wednesday's Federal Reserve meeting as largely a foregone conclusion, predicting a more than 99% chance that the central bank will keep rates steady, but some fear the central bank is going to wait too long to make its move. Relatively subdued inflation prints in recent months are giving the Fed reason to be optimistic, but inflation hasn't fallen quite enough for it to cut borrowing costs as officials await more data that could impact prices. Tariff worries are still lingering, and now, concerns about the cost of crude oil due to the Israel-Iran conflict have added another reason for the Fed to worry about the path of inflation. Yet, some strategists are wondering if the Fed is making a mistake, similar to what some interpreted as an error last September when it cut rates by 50 basis points. At that time, critics said the jumbo cut was the result of officials playing catch-up. Powell is also under political pressure to cut rates, as President Donald Trump has repeatedly criticized Fed chairman Jerome Powell and threatened to fire him. Just last week, the president called Powell a "numbskull" for not lowering interest rates. The market is pricing in one to two rate cuts in 2025 and two cuts in 2026. Here's why some market experts are raising concerns about the Fed's hesitation to loosen monetary policy. Neil Dutta, head of economics, Renaissance Macro Research Dutta 's not expecting a re-acceleration in inflation, but that doesn't mean the outlook for the economy is rosy. Dutta's biggest concern is the labor market, which has shown signs of weakness and rising unemployment. Jobless claims are rising, hiring rates are slowing, and wages are remaining stagnant. Back in March, the Fed predicted that the unemployment rate would be 4.3% by the end of 2026. Now, market consensus sees unemployment rising to 4.6%. A growing unemployment gap could pose a serious threat to the economy, and Dutta believes the Fed is not paying enough attention to it. "Based on the unemployment rate, they should be penciling in more cuts for 2026," Dutta said on a webinar Monday. Dutta's less concerned about a resurgence in inflation due to household budget constraints. Home prices have come down, meaning that Americans' net worth is falling as well. This tends to result in higher savings rates and less spending, keeping inflation subdued. "The Fed is essentially conditioning itself to be behind the curve right now," Dutta said. Emily Roland and Matt Miskin, co-chief investment strategists, Manulife John Hancock Investments Tariff uncertainty is clouding the rate cut outlook for this year, Roland and Miskin believe. If it weren't for inflation concerns surrounding the trade war, the co-chief investment strategists believe that the Fed could already be initiating cuts, as inflation has been steadily cooling over the last several months. But for now, the Fed is in wait-and-see mode as the central bank monitors for signs of a tariff-induced inflation spike. Roland and Miskin predict that the Fed will most likely wait until its Jackson Hole meeting in August before giving a clearer signal about its plans to cut rates this year. For Wednesday, they expect the Fed to lower its core PCE inflation estimate but keep its real GDP estimate unchanged. The strategists see some level of concern in the labor market: initial jobless claims were 248,000 for the week ending June 7, and continuing jobless claims are continuing to rise. "It is hard for the Fed to be data dependent and wait and see for months on the potential impact of tariffs. They are likely discounting the data like the markets, but that is a recipe to get behind the curve in our view," Roland and Miskin wrote in a note on Monday. Simona Mocuta, chief economist, State Street Global Advisors Mocuta believes the Fed should lower rates this summer to maintain US economic growth. Today's rate cut situation reminds Mocuta of the Fed's hesitance to cut last year and the resulting 50 basis-point cut in September of 2024. Similar to Dutta, she's more worried about the labor market piece of the dual mandate than inflation. "The reason why I do think the Fed should cut despite tariffs is that the labor market and the economy overall is at a much more delicate point to date than a year ago," Mocuta said on Yahoo! Finance last month. Mocuta warned that labor demand continues to weaken, and some catalysts, such as the DOGE cuts to federal employment, won't show up in the hard data until later this summer or fall. Cutting too late could increase the risk of a recession. "The economy avoids recession if consumer spending remains strong and that can only happen if the labor market remains strong," Mocuta said. While Mocuta acknowledged that the Fed needs to keep inflation subdued, she believes it's better to have above-target inflation to prevent a recession rather than the other way around.
Indian Express
5 days ago
- General
- Indian Express
Air India plane crash: Recalling the Charkhi Dadri collision, one of the worst aviation disasters in history
A London-bound Air India Boeing 787 Dreamliner crashed into a residential neighbourhood in Ahmedabad last week, killing at least 249 people. The aviation disaster — one of the worst in decades — came 29 years after the Charkhi Dadri mid-air collision of Saudia Flight 763 which was going from Delhi to Saudi Arabia's Dhahran, and Kazakh Flight 1907 which was travelling from Kazakhstan's Chimkent (now Shymkent) to Delhi. The accident led to the death of all 349 people on board both planes. Here is a look at what led to the Charkhi Dadri accident, which is considered the deadliest mid-air collision in aviation history of the world. The incident On November 12, 1996, around 6.40 pm, the Saudia Flight 763 took off from Delhi to Dhahran, carrying many Indian workers to their jobs in the Middle East and with Captain Khalid al-Shubaily in the cockpit. Around the same time, Kazakh Flight 1907, which had Captain Alexander Cherepanov in the cockpit, was about to land in Delhi. Suddenly, as the narrator in the popular air crash documentary show, Mayday (Air Crash Investigations), puts it, 'the early evening sky ignites into a fireball… flaming wreckage falls from the sky'. Tim Place, the pilot of a United States Air Force cargo plane, in the vicinity, first witnessed the incident. 'This cloud just lit up… felt like you could feel the heat,' he said. All three planes were in contact with air traffic controller V K Dutta. The massive jets plunged into the mustard fields below, in two wreckage fields seven kilometres apart, in Charkhi Dadri, around 120 km away from Delhi. The cause of the crash Kazakh Flight 1907 was flying at 23,000 ft, about 74 nautical miles from Delhi airport when its crew first contacted Dutta. He cleared the flight to descend and maintain 15,000 ft, according to a recent report by The Indian Express. Saudi Flight 763 was first cleared to fly at 10,000 ft and then at 14,000 ft. Dutta instructed the crew to maintain 14,000 ft and stand by for permission to climb higher. This was done to ensure a mandatory 1,000-ft separation between the jets when they crossed paths. Working with only a primary radar, the only one available around that time, Dutta depended on the pilots of the Kazakh 1907 and Saudi 763 to know their altitudes. Both crews acknowledged Dutta's instructions to maintain 15,000 ft and 14,000 ft, respectively. 'Saudi seven six three (will) maintain one four zero (14,000 ft),' the Saudi crew acknowledged. This was their last transmission to the ATC. Following the crash, the government set up a Court of Inquiry. The investigation did not find any fault with Dutta and said he had given correct instructions to both flight crew. It held that the mid-air collision happened because the Kazakh pilots did not maintain their assigned altitude of 15,000 ft and descended to 14,000 ft, according to The Indian Express report. Another possible reason for the Kazakh jet deviating from its assigned altitude, investigators felt, could be the pilot's poor proficiency in English, who may have misunderstood the altitude assigned to the Saudi jet as his own. The accident led to several corrective steps, including equipping major airports with SSRs (Secondary Surveillance Radar) and separate air corridors for arriving and departing aircraft besides the installation of a Traffic Alert and Collision Avoidance System (TCAS) in the aircraft. India has not witnessed any mid-air collision ever since.
Fashion Network
5 days ago
- Business
- Fashion Network
Madhu S Dutta launches House of MSD
After more than two decades in brand leadership, Madhu S Dutta has launched her independent venture, House of MSD, marking a shift from corporate stewardship to entrepreneurship. Known for her work with brands like Tanishq, World Gold Council, Pantaloons and Raymond, Dutta's career has focused on brand transformation. 'You are at a certain crossroad, when you no longer want to be the custodian of someone else's story,' said Dutta in a press release. 'You want to own the narrative, build something from scratch, on your own terms.' Dutta's journey spans advertising roles at Lowe and Ogilvy to creating widely recognised campaigns such as Raymond's 'The Complete Man ' series and rebranding Indian gold jewellery with designer-led collections like Aarka. At the World Gold Council, Dutta led concept-driven product launches that repositioned gold as a versatile fashion accessory. House of MSD is described as a hybrid model, part brand lab, part creative studio, and part lifestyle incubator. While specific details remain under wraps, it is expected to offer strategic storytelling solutions rooted in culture, emotion, and brand purpose. With this launch, Dutta joins a growing group of industry leaders building new platforms shaped by legacy, vision and ownership.
