The shared (public) cloud infrastructure market reached $26.3 billion in the first quarter of this year globally, up 43.9 per cent compared to a year ago, according to a new report.

The shared (public) cloud infrastructure is expected to grow 30.4 per cent (year-over-year) to $108.3 billion for the full year, according to an IDC report.

For 2024, IDC forecasts overall cloud infrastructure spending to grow 26.1 per cent compared to 2023 to $138.3 billion.

Spending on dedicated cloud infrastructure is also expected to have double-digit growth in 2024 at 12.8 per cent, reaching $30 billion for the full year.

“The subdued growth forecast for non-cloud infrastructure at 8.4 per cent in 2024 reflects that even though most of the growth will come from cloud spending, general non-cloud dedicated systems are set to recover this year,” the report mentioned.

According to the report, the shared cloud infrastructure category continues to hold the largest share of spending compared to dedicated (private) cloud deployments and non-cloud spending.

In the January-March period, shared cloud accounted for 56.1 per cent of total infrastructure spending.

Cloud infrastructure spending growth continues being driven by the explosion of AI-related investments, which not only impact servers but also started to have positive influence on enterprise storage as well,” said Juan Pablo Seminara, research director for IDC’s Worldwide Enterprise Infrastructure Tracker. AGENCIES

The Ministry of Statistics and Programme Implementation (MOSPI) on Saturday launched an eSankhyiki portal with the objective of establishing a comprehensive data management and sharing system for ease of dissemination of official statistics in the country.

The portal (https://esankhyiki.mospi.gov.in) aims to provide timely inputs for planners, policy-makers, researchers and the public at large. The eSankhyiki Portal has two sections facilitating easy access and re-use of data, the Ministry said.

The first section is a Data Catalogue that lists the National Accounts Statistics, Consumer Price Index, Index of Industrial Production, Annual Survey of Industries, Periodic Labour Force Survey and Household Consumption Expenditure Survey in one place.

The second covers Macro Indicators. The section includes time series data of key macro indicators with features for filtering and visualisation. It also allows users to download custom datasets, and visualisations and enables access to them through APIs, thereby increasing the re-usability of data. At present, this section includes National Accounts Statistics, Consumer Price Index, Index of Industrial Production, and Annual Survey of Industries, encompassing the data of the last 10 years.

Statistics Day is celebrated in the country In recognition of the notable contributions made by Professor (late) Prasanta Chandra Mahalanobis in the fields of statistics and economic planning.

The main objective of celebrating Statistics Day is the creation of public awareness, especially among the younger generation, on the role and importance of statistics in socio-economic planning and policy formulation for the development of the country.

The theme for Statistics Day, 2024 is “Use of data for decision-making”. The concept of data-driven decision-making is important for making informed decisions in any field.

The Chief Guest on the occasion, Arvind Panagariya, Chairman, of the 16th Finance Commission highlighted the role of Prof. P.C. Mahalanobis in shaping the Indian Statistical System. He also urged that India should continue its data-driven policy-making in order to move along its development trajectory.

Prof. Rajeeva Laxman Karandikar, Chairman of the National Statistical Commission emphasized the need to make the data more accessible and usable. He also stressed the need for the interoperability and linking of databases generated by various agencies through coordination among stakeholders.

Saurabh Garg, Secretary, MoSPI while addressing the audience highlighted the recent initiatives of the Ministry for reducing time-lag in survey data like Computer-Aided Personal Interview (CAPI), new surveys, user engagement exercise and the newly launched eSankhyiki portal.

Luis Felipe Lopez-Calva, Global Director for the World Bank Group’s poverty and equity global practice made a presentation on the global experience of using data for decision-making. He emphasised that data is an essential infrastructure for effective policy-making while sharing prevalent global practices.

Based on the updated Sustainable Development Goals – National Indicator Framework (SDGs- NIF), MoSPI released three progress reports on SDGs with time series data. These reports can be accessed at the MoSPI’s website AGENCIES

IT major IBM and the Gujarat government on Saturday signed a memorandum of understanding (MoU) to establish and promote an artificial intelligence (AI) Cluster in the Gujarat International Finance Tec-City (GIFT city), leveraging IBM’s ‘watsonx’ technology solutions to foster innovation and collaboration among financial institutions.As part of this collaboration, financial institutions will gain access to ‘AI Sandbox’, assistance in providing proof of concept, AI literacy programmes and digital assistant solutions.

“This MoU with IBM will help Gujarat to lead the country in efforts to adopt AI and drive digital transformation,” said Gujarat Chief Minister Bhupendrabhai Patel.

IBM will provide software technologies and platforms over a cloud environment enabling financial institutions to customise and fine-tune large language AI models in a sandbox environment.

“This collaboration is a significant step in our continued association with the Government of Gujarat to accelerate the digital transformation of the state,” said Sandip Patel, MD, IBM India and South Asia.

“By establishing this AI cluster, our aim is to make the latest AI solutions easily accessible to the vibrant and growing number of financial institutions in GIFT city,” he added.

The IT major will also aim to build a digital assistant-based solution that facilitates the onboarding and integration of these customised large language models for financial institutions.    Aligned with its commitment to skill 30 million people by 2023 and train 2 million learners in AI by the end of 2026, the company said it will develop an AI curriculum for schools and universities across the state. AGENCIES

Infinix on Saturday launched a new laptop — the Zero Book Ultra AI PC, with generative artificial intelligence (GenAI) capabilities to create an ecosystem of future-forward laptops in India.

The Infinix Zero Book Ultra AI PC will be available in three variants — Ultra 5 (16GB+512GB) at Rs 59,990, Ultra 7 (16GB+512GB) at Rs 69,990, and Ultra 9 (32GB+1TB) at Rs 84,990 — starting from July 10 on Flipkart.

“With India’s rapid adoption of AI, this laptop will be a game-changer, striking a chord with consumers through its affordability, user-friendly interfaces, and future-forward features, perfectly aligned with their demand for advanced AI capabilities,” Anish Kapoor, CEO, Infinix India, said in a statement.

The new device comes powered by Intel (NASDAQ:INTC)’s Core Ultra Processor, the first truly ready AI processor that combines exceptional performance with revolutionary AI capabilities, the company said.

The laptop features a 15.6-inch display that boasts a peak brightness of up to 400 nits, ensuring exceptional visuals with vibrant colours and deep contrasts.

In addition, the Zero Book Ultra AI PC offers unparalleled connectivity options, including the latest WiFi 6E protocol with 6GHz support, providing up to an astonishing 9.6 Gbps throughput and seamless Bluetooth 5.2 connectivity.

Furthermore, the laptop also includes “PC Connection” that enables Android to Windows features.

Infinix on Saturday launched a new laptop — the Zero Book Ultra AI PC, with generative artificial intelligence (GenAI) capabilities to create an ecosystem of future-forward laptops in India.

The Infinix Zero Book Ultra AI PC will be available in three variants — Ultra 5 (16GB+512GB) at Rs 59,990, Ultra 7 (16GB+512GB) at Rs 69,990, and Ultra 9 (32GB+1TB) at Rs 84,990 — starting from July 10 on Flipkart.

“With India’s rapid adoption of AI, this laptop will be a game-changer, striking a chord with consumers through its affordability, user-friendly interfaces, and future-forward features, perfectly aligned with their demand for advanced AI capabilities,” Anish Kapoor, CEO, Infinix India, said in a statement.

The new device comes powered by Intel (NASDAQ:INTC)’s Core Ultra Processor, the first truly ready AI processor that combines exceptional performance with revolutionary AI capabilities, the company said.

The laptop features a 15.6-inch display that boasts a peak brightness of up to 400 nits, ensuring exceptional visuals with vibrant colours and deep contrasts.

In addition, the Zero Book Ultra AI PC offers unparalleled connectivity options, including the latest WiFi 6E protocol with 6GHz support, providing up to an astonishing 9.6 Gbps throughput and seamless Bluetooth 5.2 connectivity.

Furthermore, the laptop also includes “PC Connection” that enables Android to Windows features. AGENCIES

Meta-owned Instagram on Saturday suffered a major outage globally, including in India, as thousands of users were unable to load Reels and access other options.

As per website outage tracking website Downdetector, over 6,500 users reported issues with accessing the platform in India at the peak of an outage at around 12.02 p.m.

About 58 per cent reported problems with the feed, 32 per cent with the app, and 10 per cent with server connection.

Users from Delhi, Jaipur, Lucknow, Mumbai, Ahmedabad, Kolkata, Hyderabad, Bengaluru, Chennai, and others faced issues with the app.

Users took to X to vent their frustration as they were unable to log in to the app, load Reels, and others.

“Everyone going towards Twitter to check if Instagram is down,” a user wrote.

“I thought my Instagram got hacked cuz there’s no way my fyp looks like this. It’s all brain rot usually #instagramdown,” another user said.

One more user stated, “Me going to Twitter to check if it’s only my Instagram that’s down, or we all are suffering #instagramdown”. AGENCIES

Myntra collaborates with Masaba Gupta – the acclaimed fashion designer, beauty entrepreneur and actor as the brand ambassador for Myntra Home.

In this role, she will bring her creative vision to the platform, curating an inspiration-driving home selection that caters to trend-first customers who are building homes that best reflect their personalities. As part of this association, she will also be seen in the ‘Curated by Masaba’ campaign that shines a spotlight on Myntra’s premium home selection.

“Home is where we freely express ourselves, adorned with our roots, beliefs, and culture. Becoming the brand ambassador for Myntra’s Home Category is about transforming home decor into a bold statement of self-expression. For me, this collaboration is an opportunity to merge the intimate journey of home-making with inspiring aesthetics,” said Gupta.

Masaba Gupta is a formidable creative force, who has proven her prowess by resonating with diverse demographics through her distinctive aesthetics and design sensibilities across fashion and beauty. Now, she brings her signature quirk and creative brilliance to Myntra Home.

Myntra Home’s portfolio includes fine and elegant home furnishing, trendy art & decor pieces, lamps & lighting, kitchen & dining, bath, and bed linen and appliances from leading brands including M&S Homes, H&M Homes, India Circus, My Trident (NS:TRIE), Urban Space, Elementary, D’Decor and Nestasia.

Since recently intensifying its focus on the home category, Myntra has significantly expanded its offerings, boasting a rich catalogue of over 4 lakh styles from more than 1,500 renowned domestic and global brands.

Over the years, the rise in time spent by individuals at home, with a notable increase in hybrid work and work-from-home becoming norms, has instilled practices of aesthetics that have resulted in consumers investing more in their home furnishings and decor. Some of the sub categories like kitchen, wall clocks and serverware are clocking over 100% year-on-year (YoY) growth in demand.

“We are delighted to welcome the creative force, Masaba Gupta, as the brand ambassador for Myntra Home. Home is an important part of one’s lifestyle and hence the category expansion fits well into Myntra’s commitment of democratising fashion and lifestyle. Masaba’s distinctive design acumen is well-known globally, and we are thrilled to bring her keen sense of aesthetics by way of her curated collections, themes and looks, to inspire our customers,” said Sunder Balasubramanian – CMO, Myntra.

Like fashion, home decor is a natural extension of one’s distinct taste. Focused on design and aesthetics, the curated collection on Myntra aims to transform homes into chic havens of comfort by offering mood-boosting, theme-based decor inspirations, also reflected in the premium catalogue imagery.

For example, the ‘Cozy Bedroom’ selection features ceramic diffusers, minimalist lamps, and neutral-shaded furnishings. Similarly, the ‘Lovely Living Room’ offers tropical cushions, ceramic planters, textured ottomans and woven hangings.

The ‘Curated by Masaba’ campaign will showcase the tasteful ‘Myntra Home’ selection. It emphasizes the core proposition of top-notch design aesthetics, enabling customers to seamlessly discover handpicked products and brands to elevate their homes.

“We felt that the ‘Home Decor’ category needed fresh storytelling and when it was for Myntra, it had to be fashionable too. Featuring Masaba as the brand ambassador, we’ve created super fun films where the creative take is ‘curated home decor products & themes so good, you’ll be tempted to lie about it’ – both films showcasing the width of inspiring themes and unique products one can choose from on Myntra Home,” said Ira Gupta, Chief Creative Officer, Toaster India.

The ad film stars Masaba Gupta, as well as popular content creator Kusha Kapila, showcasing curated home and living looks and products as the focal point. Set against the backdrop of a lively party, Kapila, the hostess, revels in the admiration her meticulously curated home decor receives from guests.

She improvises her responses to suggest that her decor is personally sourced from exclusive crafts worldwide. However, Gupta appears in the scene, knowing the truth about the home decor Kapila is happily showing off is from Myntra’s extensive home selection.

Playfully pointing to a small vase, she questions Kapila about that purchase, prompting Kapila to awkwardly admit it’s from Myntra before hastily excusing herself mid-conversation. The campaign thus puts the spotlight on Myntra’s handpicked, unique and trendy home selection to refresh every corner of the house and let the homes do the talking.

AGENCIES

 Political stability and sharp rebound in markets aided by aggressive retail buying have forced the foreign portfolio investors (FPIs) to turn buyers in India, market watchers said on Saturday.

FPIs have invested Rs 26,565 crore in equity in June which marks a reversal of their strategy of selling in the two preceding months.

According to market experts, FPIs have realised that selling in the most-performing market would be a wrong strategy.

“FPI buying can sustain provided there is no sharp up move in US bond yields,” they added.

First fortnight data in June from the National Securities Depository Limited (NSDL) shows FPIs buying in realty, telecom and financials.

FPIs were sellers in IT, metals and oil and gas and are likely to continue the buying trend in financials.

According to V. K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services, India’s inclusion in the JP Morgan Bond Index is certainly positive.

“The debt inflows for 2024 so far stand at Rs 68,674 crore. In the long term, this will reduce the cost of borrowing for the government and reduce the cost of capital for corporates. This is positive for the economy and therefore for the equity market,” he noted.

FPIs are selling where valuations are high and buying where valuations are reasonable. Analysts believe that FPI inflows will remain constrained due to the high valuations currently commanded by the Indian equity market. AGENCIES

Tesla (NASDAQ:TSLA) and SpaceX CEO Elon Musk on Saturday said his social media platform X saw record usage as US President Joe Biden and his challenger, former President Donald Trump, attended their first presidential debate on TV. According to X, the minute-by-minute conversation, about the US presidential debate spiked by “19 times from the start of the broadcast to its peak 90 minutes in.”

The company said the scale of the global conversation on X was staggering during the debate.

“We’ve tracked over 2 billion impressions with over 242 million video views and 2 million posts,” said the social media platform.

The tech billionaire stated that there was a “record usage of X during the US presidential debate.”

A user posted, “X was going crazy during the debate. X live streams during the debate also had huge audiences.”

“Amazing result of allowing people to speak about it freely, without the ban hammer of the ‘Censorship Complex’ hovering over them,” another X user commented.

Meanwhile, President Biden said he “did well” at the debate with ex-President Trump and dismissed the likelihood of him stepping aside, as being demanded by some Democrats disappointed by his performance.

“I think we did well,” President Biden told a reporter. Many Democrats, however, were concerned President Biden may not be able to beat former President Trump, the presumptive Republican nominee. AGENCIES

South Korea’s exports of pharmaceutical and biotechnologies surged from a year earlier in the first half of the year, data showed on Saturday.In the first six months of the year, the country exported 4.5 trillion won ($3.26 billion) worth of pharmaceutical and biotechnologies, up 55 per cent from 2.9 trillion won (about $2.09 billion) for the same period last year, according to the data from the Korea Pharmaceutical and Bio-Pharma Manufacturers Association.

The number of export deals dropped to seven from 12 over the cited period, but the amount of each deal grew sharply, the association noted, adding that each of the three deals signed this month was worth over 500 billion won, reports Yonhap News Agency.

At the current rate, the country’s annual total is expected to reach 8 trillion won, according to the association.

“This means the competitiveness of our country’s pharmaceutical and biopharmaceutical technologies have significantly improved,” an association official said. AGENCIES

The World Bank on Saturday approved $1.5 billion in financing for a second operation to help India — which is the fastest-growing large economy in the world — accelerate the development of low-carbon energy. The second ‘Low-Carbon Energy Programmatic Development Policy Operation’ will support reforms to boost the production of green hydrogen and electrolysers, critical technology needed for green hydrogen production.

This operation is aligned with the government’s energy security and with the World Bank’s Hydrogen for Development (H4D) Partnership. According to the World Bank, the reforms are expected to result in the production of at least 450,000 metric tonnes of green hydrogen and 1,500 MW of electrolysers per year from FY25/26 onwards, said the World Bank. In addition, it will also significantly help to increase renewable energy capacity and support reductions in emissions by 50 million tonnes per year.

The operation will also support steps to further develop a national carbon credit market. “The World Bank is pleased to continue supporting India’s low-carbon development strategy which will help achieve the country’s net-zero target while creating clean energy jobs in the private sector,” said Auguste Tano Kouame, World Bank Country Director for India. “Both the first and second operations have a strong focus on boosting private investment in green hydrogen and renewable energy,” Kouame added.

The Indian economy is expected to continue to expand at a rapid pace. According to the World Bank, decoupling economic growth from emissions growth will require scaling up renewable energy, especially in hard-to-abate industrial sectors. “India has taken bold action to develop a domestic market for green hydrogen, underpinned by rapidly expanding renewable energy capacity,” said Aurelien Kruse, Xiaodong Wang, and Surbhi Goyal, team leaders for the operation.

In June 2023, the World Bank approved the $1.5 billion first operation, which supported the waiver of transmission charges for renewable energy in green hydrogen projects, the issuance of a clear path to launch 50 GW of renewable energy tenders annually and creating a legal framework for a national carbon credit market. AGENCIES