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Stay informed with India’s latest headlines. Here we bring to you what transpired that has significance to the nation and its people. Read on to update yourself.
India Pavilion Inaugurated At Game Developers Conference
The Consulate of India to San Francisco, alongside the US-India Strategic Partnership Forum (USISPF), unveiled the inaugural India Pavilion at the Game Developer Conference. Developed by WinZO in partnership with the India Game Developer Conference and Nazara, the pavilion showcases India’s gaming capabilities, featuring a range of game technologies from WinZO and independent studios. The event also introduced the “India Gaming Opportunity” report, co-authored by IEIC and WinZO, spotlighting the sector’s growth trajectory and attracting $2.8 billion in investments since 2017. Dr. Mukesh Aghi of USISPF highlighted the pavilion’s significance in fostering Indo-US collaboration. The report predicts India’s online skill gaming market to hit $6 billion by 2028.
Nissan Motor India appoints Saurabh Vatsa As Managing Director
Nissan Motor India appoints Saurabh Vatsa as Managing Director effective April 1, 2024, succeeding Rakesh Srivastava. Vatsa, previously Deputy MD, will report to Frank Torres, President, of Nissan India Operations. Under Srivastava’s tenure, Nissan launched the Magnite B-SUV, achieving over 100,000 cumulative domestic sales by February 2024. The company garnered the Global Nissan President Award twice during his leadership. Frank Torres praised Srivastava’s leadership during turbulent times while expressing confidence in Vatsa’s capabilities to lead the next phase of growth. Vatsa vows to continue Nissan’s legacy and innovation drive in India. Nissan’s commitment includes a Rs 5300 crore ($600 million) investment and a revamped product portfolio.
IIT Madras’ Centre for Computational Brain Research At GTC
During Nvidia’s GPU Technology Conference (GTC) in San Jose, the collaboration between IIT Madras’ Centre for Computational Brain Research and Nvidia was spotlighted. They are jointly working on mapping the human brain at a cellular level. Nvidia’s Vice President, Kimberly Powell, underscored the significance of this partnership, highlighting the capabilities of the Neuro Voyager platform. This platform enables imaging of the brain with massive data volumes and incorporates a chatbot for accessing extensive brain research. Additionally, Nvidia provides essential support to the research center with its GPU infrastructure. Professor Mohanshankar S emphasized the pivotal role of appropriate computing infrastructure in expediting research efforts.
Ayodhya To Emerge As The World’s Largest Spiritual Destination
Puneet Chhatwal, CEO of Indian Hotels Company Limited, predicts Ayodhya to emerge as the world’s largest spiritual destination, citing improved infrastructure and increasing religious tourism in India. Dismissing the idea of “revenge tourism,” he attributes the surge in travel to rising disposable incomes and shifting priorities. IHCL has signed agreements for three hotels in Ayodhya, reflecting the growing interest in the city. With investments from prominent hotel chains underway, Ayodhya’s tourism potential is poised for significant growth. Chhatwal underscores the transformative impact of tourism on the economy, emphasizing its role in job creation and GDP contribution.
India’s Sports Industry Witnesses An 11% Growth
In 2023, India’s sports industry witnessed an 11% growth, reaching a total revenue of ₹15,766 crore, as per a GroupM ESP report. Cricket contributed significantly, with 87% of revenues totaling ₹13,701 crore, a 13% increase. Sponsorship spending surged by 24%, reaching ₹7,345 crore, driven by IPL and WPL franchise fees. However, overall media spending remained flat at ₹7,494 crore due to various economic factors. Digital ad revenues saw a notable 40% growth, attributed to IPL and Cricket World Cup matches being available for free on OTT platforms. Sports celebrities earned ₹927 crore in endorsement fees, marking a 24% increase.
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Disclaimer: Educational purpose blog with no commercial use intended.
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