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Hello,

It’s earnings season.

IT companies Tata Consultancy Services (TCS) and HCLTech will release results for the first quarter of fiscal year 2025 this week. While expectations remain subdued, analysts believe RBI’s upgraded FY25 GDP growth forecast from 7% to 7.2% as well as easing global inflation might just reduce the likelihood of weak results. 

“As the market enters the earnings season, starting with IT bellwether TCS, expectations are optimistic for better results,” said Vinod Nair, Head of Research, Geojit Financial Services.

It’s also time for the Union Budget, with Finance Minister Nirmala Sitharaman expected to present her seventh Budget on July 23. This will be the first full budget of Modi 3.0.

Speaking of the Budget, India’s pharmaceutical sector hopes the government will consider ways to incentivise R&D investments. Tax concessions as well as intellectual property rights protection are also key asks in the pharma industry’s wishlist. 

Moving on, AI is scamming the scammers!

Prof Dali Kaafar from Macquarie University and his team have created an AI chatbot that deceives scam callers by keeping them on the line and collecting data. 

Lastly, the AI race is on and this has put enormous pressure on next-gen computing infrastructure. With big tech companies taking a no-holds-barred approach to win, emission targets have taken a backseat. 

In today’s newsletter, we will talk about 

• Agnikul Cosmos’ upcoming space bets
• Upgrading skills to meet work demands

Here’s your trivia for today: What is the smallest independent country in Asia?

Space

Agnikul Cosmos’ upcoming space bets

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Design: Nihar Apte

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Chennai-based spacetech startup Agnikul Cosmos finds itself in a sweet spot. The spotlight is on India’s affordable space launches, and Agnikul is building on this legacy by demonstrating cost-effective launches using 3D-printed rocket engines. 

Its Agnilet engine, first test-fired in 2021, is the world’s first single-piece 3D-printed semi-cryogenic rocket engine.

Next frontier:

• Agnikul plans to achieve orbital launch within the next 9-12 months, aiming to deploy multiple payloads into space, Co-founder and COO Moin SPM says. 
• The startup is targeting a launch altitude of 300-700 kilometres above the Earth’s surface. These launches will be into low Earth orbit (LEO), the region closest to Earth where most satellites and the International Space Station operate.
• Agnikul has received inbound interest from geographies like Europe, Australia, and Japan. It is also planning to get a foothold in the US market.

Startup 

Upgrading skills to meet workplace demands

Bengaluru-based startup edForce, which describes itself as a ‘workforce upskill accelerator’, provides a variety of courses and certifications, which enable users to update themselves with technologies that are required in their domain of work, including finance, healthcare, and IT.

Career oriented:

• According to The Future of Jobs Report 2023 by the World Economic Forum, the priority skills for training from 2023 to 2027 include AI, Big Data, leadership and social influence, and analytical and critical thinking.
• The focus of edForce is AI and generative AI (GenAI) for business development, architecture, and security. Under this, the startup offers courses in AI & ML, deep learning with TensorFlow, natural language processing with Python, ChatGPT QuickStart and ChatGPT Pro.
• The edtech startup has provided certifications and courses to employees of 150 enterprises from IT, finance, healthcare, and manufacturing. Infosys, Walmart, Siemens, Sony, and HCL are its top clients.

News & updates

• Retirement: The American actor and wrestler John Cena has officially announced his retirement from competing in World Wrestling Entertainment (WWE) events. Cena announced in front of a packed, enthusiastic crowd at the Money in the Bank event in Toronto, Canada, and said his final competition would be sometime in 2025.
• Saving jobs: The UK government will demand that jobs are saved at Tata’s steelworks in Port Talbot, Wales, in exchange for state support for the industry, new Business Secretary Jonathan Reynolds said. Reynolds said he and Prime Minister Sir Keir Starmer had already spoken to Tata and were involved in active negotiations over the Port Talbot plant’s future.

What you should watch out for

• Listing: The Emcure Pharma IPO allotment is scheduled to be finalised on Monday, July 8. The IPO will list on both BSE and NSE, with the tentative listing date set for Wednesday, July 10. Emcure Pharma’s IPO was subscribed nearly 68 times on the final day of bidding last week as investors bet on its slate of women’s healthcare and HIV treatments.
• Russia visit: Prime Minister Narendra Modi will visit Russia from July 8 to 9 to hold the 22nd India-Russia annual summit that will review the entire range of multifaceted ties between the two countries, according to the Ministry of External Affairs (MEA). This is the PM’s first visit to Russia in nearly five years.
• Bypolls: BJP-led NDA and the INDIA bloc will lock horns on July 10 as 13 Assembly constituencies across seven states, including four in West Bengal, go to bypolls. The counting of votes will be on July 13.

What is the smallest independent country in Asia?

Answer: Maldives 

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