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New Delhi, Oct 15 (PTI) As many as 99 per cent of Indian business leaders view generative AI as crucial for future success, although adoption barriers such as accessibility and governance prevail, according to a recent Salesforce survey.

Conducted among over 300 C-suite executives across India, the survey highlights a strong consensus on the necessity of integrating AI technologies to remain competitive in an increasingly digital world.

The data said while 60 per cent of leaders from large organisations already have a well-defined generative AI strategy, 32 per cent are in the process of developing one.

Trust in AI capabilities is growing, with all respondents expressing confidence in delegating at least one task to AI without human oversight in the next three years.

However, business leaders identified several obstacles to full-scale adoption, including accessibility issues (38 per cent), concerns about the accuracy of AI outputs (34 per cent), and a lack of governance structures (30 per cent).

Leadership plays a pivotal role in navigating the risks associated with data security and privacy during generative AI adoption, Salesforce said.

In the Indian business landscape, the pressure on leaders to speedily and effectively integrate generative AI is more pronounced than ever, Arun Parameswaran, Managing Director, Sales, Salesforce India, said. PTI ANK TRB

New Delhi, Oct 15 (PTI) Drug firm Lupin on Tuesday said it has launched a generic ophthalmic solution in the US with 180-day exclusivity.

The company has introduced the first generic version of Pred Forte (Prednisolone Acetate) Ophthalmic Suspension USP, 1 per cent in the US, the Mumbai-based drugmaker said in a statement.

Being the first generic to be approved and launched, the company is entitled to 180-day competitive generic therapy (CGT) exclusivity, it added.

"This will strengthen our ophthalmic portfolio and benefit patients seeking effective treatment for steroid-responsive inflammation," Lupin CEO Vinita Gupta said.

Prednisolone Acetate Ophthalmic Suspension USP (1 per cent) is indicated for the treatment of steroid-responsive inflammation of the palpebral and bulbar conjunctiva, cornea, and anterior segment of the globe.

As per IQVIA MAT data, Pred Forte had estimated annual sales of USD 198 million in the US.

Shares Lupin on Tuesday ended 0.31 per cent up at Rs 2,250 apiece on the BSE. PTI MSS

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New Delhi, Oct 15 (PTI) Tembo Global Industries on Tuesday said it has secured a power purchase agreement (PPA) from the Maharashtra government for a 124 MW solar project in the state.

This is its first-ever agreement for a renewable energy project, the company said in an exchange filing.

The agreement will involve a project cost of about Rs 595 crore and is expected to be executed within a time frame of 18 months. PTI ABI ABI BAL

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New Delhi, Oct 15 (PTI) Telecom Minister Jyotiraditya Scindia on Tuesday rejected service providers' demand to auction satcom spectrum but made it clear that radiowaves will come with a cost even if assigned without auction for satellite-based communications services.

Earlier in the day, Bharti Airtel founder and chairman Sunil Bharti Mittal joined rival firm Reliance Jio in demanding allocation of spectrum for satcom services in the same manner as it is allocated to telecom players.

"The Telecom Act 2023 which was passed in December of last year has very clearly put this in Schedule 1 which means that satcom spectrum will be allocated administratively. That does not mean that spectrum comes without a cost. “ What that cost is and what the formula of that cost is going to be will not be decided by you and me but it will be decided by Trai," Scindia said at India Mobile Congress.

He was responding to a question on telecom operators' demand to allocate spectrum to satcom players through the auction route.

"We have a regulatory authority for telecom and that regulatory authority has been empowered by the constitution to determine what that administrative pricing is going to be? I am very confident that they will come up with the best pricing that should be adopted provided that it is being given in an administrative manner," Scindia said.

On September 27, 2024, Trai floated a consultation process to explore methodology and price for assigning spectrum to satellite companies to provide calling, messaging, broadband and other services in the country.

Reliance Jio last week sought Scindia's intervention to get regulator Trai issue a revised consultation paper on a proposed spectrum allocation rule to ensure a level-playing field between terrestrial and satellite players.

Jio in its letter to Scindia last week, referred to the Supreme Court's judgement in 2G case and indicated that Trai's failure to incorporate questions on level-playing field may lead to legal tussles.

Reliance Jio, in the letter dated October 10, mentioned that satellite communication companies such Elon Musk's Starlink, Amazon's Kupier, Bharti Group-backed OneWeb Eutelsat, and SES-Jio joint venture have expressed interest to provide their services in India, which will directly compete with land based mobile networks, and therefore a fair and transparent auction system for satellite services is essential to ensure level competition.

Mittal at the inaugural ceremony of India Mobile Congress and ITU's World Telecommunication Standardisation Assembly by Prime Minister Narendra Modi said that satellite companies interested in providing communication services in urban areas will need to buy spectrum like telecom companies.

"Those satellite companies who have ambitions to come into urban areas serving retail customers just need to take the telecom licenses like everybody else and be bound to the same conditions. They need to buy the spectrum as the telecom companies buy," Mittal said.

Mittal's Bharti Enterprise is the single-largest stakeholder in satcom services firm OneWeb and he earlier favoured administrative allocation of spectrum for satcom services.

Later Airtel issued a statement in which it said that the company has always maintained that it will use all technologies including satcom to ensure that every nook and corner of the country is covered for high-speed broadband connectivity.

"This position remains consistent. Airtel has tied up with Eutelsat OneWeb, which has a LEO constellation, only the second one in the world, through which it proposes to provide satcom services in India and Africa.

“Satellite operators who want to provide services to urban areas and retail customers indeed need to go through the regular licensing process of any country, and in this case, India, to obtain a license; buy the spectrum; undertake all the obligations, including rollout and security; pay their license fees and taxes and they would be welcomed by the telecom fraternity," Airtel said.

Airtel said that mobile operators and satcom operators who have worked in harmony for decades can continue to do so to serve those who are still struggling to find internet connectivity.

Scindia said that satellite spectrum across the world is allocated administratively.

"India is not doing anything different from the rest of the world. Conversely, if you do decide to auction then you are doing something which is different from the rest of the world.

"Satellite spectrum is a very high level of spectrum beyond 7-8 Ghz is shared spectrum. If spectrum is shared then how can you price it individually? I think there are a number of issues that go into decision making which is why globally all countries of the world are following a certain model and India is doing pretty much the same," the minister said. PTI PRS MR

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New Delhi, Oct 15 (PTI) The escalation in the diplomatic row between India and Canada will not have an impact on the bilateral trade and investment ties between the two countries, government sources said on Tuesday.

They also said that the bilateral trade value is not significant and Canadian funds can route their investments through countries like Singapore, the UAE and the US.

"India is a preferred investment destination," they said, adding that investors in countries like the US are keen to invest in India.

One of the sources said that the industry in the US has indicated that opportunities worth USD 3 trillion are chasing India.

Canada is India's one of the primary sources of lentils and now that can come from Australia, they said, adding that Indian students and professionals would also have huge opportunities in different countries.

The bilateral merchandise trade between India and Canada actually grew slightly from USD 8.3 billion in 2022-23 to USD 8.4 billion in 2023-24.

India's imports from Canada increased to USD 4.6 billion, while exports saw a marginal dip, falling to USD 3.8 billion.

During April-July this fiscal, India's exports stood at USD 1.3 billion, while imports were USD 1.37 billion.

Think tank Global Trade Research Initiative (GTRI) too has stated that the diplomatic tensions between India and Canada have so far not impacted the bilateral trade in goods between the two countries.

However, it added that as this dispute drags on, both nations will need to carefully manage their actions to avoid a full-blown economic fallout.

India on Monday announced withdrawing its high commissioner and other "targeted diplomats and officials" from Canada after strongly dismissing Ottawa's allegations linking the envoy to an investigation into the killing of Sikh extremist Hardeep Singh Nijjar, in a major downturn in already frosty ties between the two nations.

India's decision came shortly after Canadian Charge d'Affaires Stewart Wheelers was summoned to the Ministry of External Affairs (MEA) and was told bluntly that the baseless "targeting" of Indian High Commissioner Sanjay Verma and other diplomats and officials was "completely unacceptable".

The strain started when Canadian Prime Minister Justin Trudeau accused India of involvement in the killing of a Canadian citizen and Sikh separatist leader.

This allegation led to a back-and-forth expulsion of diplomats and paused Free Trade Agreement (FTA) talks.

Over half a dozen rounds of talks have been held between the countries on the trade pact so far. In March 2022, the two countries re-launched negotiations for an interim agreement, officially dubbed as Early Progress Trade Agreement (EPTA). In such agreements, two trading partners either significantly reduce or eliminate customs duties on a maximum number of goods traded between them.

Besides, they also ease norms to promote trade in services and investments.

In the proposed pact, the Indian industry was looking at duty-free access for products like textiles and leather besides easy visa norms for the movement of professionals. Canada has interests in areas like dairy and agricultural products.

GTRI Founder Ajay Srivastava has earlier said that halting of India-Canada free trade agreement negotiations does not harm Indian trade interests as more than half of Indian products already enters Canada duty-free and would not have benefitted from this pact.

India has received USD 4 billion foreign direct investments in equity from Canada during April 2000-June 2024.

As per estimates, Canadian Pension Funds have cumulatively invested over USD 75 billion in India.

Over 600 Canadian companies have a presence in India and more than 1,000 companies are actively pursuing business in the Indian market.

Indian companies in Canada are active in fields such as Information Technology, software, steel, natural resources and banking sectors.

India's major exports to Canada include gems, jewellery and precious stones, pharmaceutical products, ready-made garments, mechanical appliances, organic chemicals, light engineering goods, iron and steel articles.

Main importing commodities included pulses, newsprint, wood pulp, asbestos, potash, iron scrap, copper, minerals and industrial chemicals.

Education is a key area of mutual interest between the two countries. India is the largest source country of foreign students with over two lakh Indian students studying in Canada.

India's pulses imports from Canada stood at USD 930.32 million in 2023-24 as against USD 370.11 million in 2022-23 and USD 411.24 million in 2021-22. The country's total pulses imports were USD 3.77 billion in the last fiscal. PTI RR RR

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