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GenAI to Boost India’s IT Industry Productivity by Up to 45%, EY India Survey Reveals

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Generative artificial intelligence (GenAI) is poised to significantly boost the productivity of India’s $254 billion IT industry, with a projected increase of 43% to 45% over the next five years, according to a survey conducted by consulting firm EY India. This surge in productivity will stem from the dual impact of GenAI’s internal integration within IT companies and the growing shift of client projects from proof of concept (POC) to full-scale production.

Leading Indian IT firms, such as Tata Consultancy Services (TCS) and Infosys, have noted that their clients are increasingly using AI for new projects. EY India’s survey found that 89% of these companies have already begun experimenting with GenAI, with 33% of these projects already in production. Abhinav Johri, a technology consulting partner at EY India, emphasized that businesses are transitioning from experimenting with AI to adopting it at an enterprise-wide scale, showcasing the industry’s confidence in the technology’s potential.

The survey also highlighted specific roles within the IT industry that stand to benefit the most. Software development is expected to experience the largest productivity boost of approximately 60%, followed by BPO services with a 52% increase, and IT consulting at 47%. Together, these three sectors—software development, BPO services, and IT consulting—are expected to contribute to 50%-60% of the total productivity improvement across India’s tech services industry.

The integration of AI is not only helping IT firms enhance their customer service but is also contributing to cost reduction and improved revenue growth, as reported by the survey’s respondents.

ISRO Marks 100th Launch with Successful Deployment of NVS-02 NavIC Satellite via GSLV-F15

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The Indian Space Research Organisation (ISRO) marked a historic achievement on Wednesday with the successful deployment of the NVS-02 navigation satellite using the GSLV-F15 rocket. The launch took place at 6:23 am from the Satish Dhawan Space Centre in Sriharikota and was ISRO’s 100th mission, highlighting the agency’s continued advancements in space technology. The satellite was precisely placed into the Geosynchronous Transfer Orbit (GTO), further strengthening India’s Navigation with Indian Constellation (NavIC) system. Notably, this was the first major launch overseen by ISRO Chairman V Narayanan since he took office on January 16, 2025.

Mission Details and NavIC Expansion

ISRO confirmed the successful launch in a post on X (formerly Twitter), noting that the 50.9-meter GSLV-F15 rocket lifted off smoothly after a 27.30-hour countdown. This mission featured an indigenous cryogenic upper stage, a key technological milestone for India’s space program. The NVS-02 satellite is the second in the second-generation NavIC series, designed to enhance India’s positioning, navigation, and timing services, covering both domestic regions and a 1,500 km range beyond national borders. The first satellite in this series, NVS-01, was launched in May 2023, paving the way for more robust and precise navigation capabilities.

Developed at the U R Rao Satellite Centre in Bengaluru, NVS-02 weighs approximately 2,250 kg and carries advanced payloads operating in the L1, L5, and S bands. It is equipped with a tri-band antenna and an indigenous Rubidium Atomic Frequency Standard, a critical technology that significantly improves the accuracy of navigation signals. This marks a major step in India’s efforts to reduce dependency on foreign positioning systems and further develop its own satellite-based navigation infrastructure.

With the successful deployment of NVS-02, ISRO continues to expand the capabilities of NavIC, ensuring better coverage and precision for civilian and military applications. This mission underscores India’s growing expertise in satellite navigation technology and reinforces its position as a key player in the global space industry. As ISRO gears up for future launches, including ambitious interplanetary missions, this achievement serves as another milestone in India’s journey toward space self-reliance.

India Central Bank Governor Issues Warning on Rising Digital Frauds, Announces Secure Domain Names

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India’s central bank governor, Sanjay Malhotra, issued a cautionary note on Friday, urging lenders to address the increasing incidence of digital payment frauds. Malhotra highlighted the concern that cyber attacks, data breaches, and other digital threats are on the rise as both Indian banks and consumers adopt newer technologies. He also noted that the Reserve Bank of India (RBI) would soon introduce secure website domain names to counter fraudulent practices.

Fraudsters often exploit subtle differences in domain names to deceive users, tricking them into sharing sensitive information or making fraudulent transactions. In response, the RBI is introducing two exclusive internet domain names. Banks will be allocated the ‘bank.in’ domain, while non-bank financial entities will receive the ‘fin.in’ domain. This initiative aims to enhance online security by establishing a unique identity for each entity, making it easier for consumers to recognize legitimate platforms.

The Institute for Development and Research in Banking Technology (IDRBT) will serve as the exclusive registrar for these domain names, with registration set to begin in April 2025.