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In today’s newsletter: 

• Coming soon: Four more Apple stores in India
• Green shoots for Indian IT in Q2?
• GSaaS: ISRO pilots a new business model

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Apple is ramping up its presence in India, fuelled by a booming market for its products.

With plans to open four more stores across major cities, the tech giant is deepening its commitment to India.

After launching its first two Apple stores in Delhi and Mumbai in April 2023, the company is now eyeing Bengaluru, Pune, and Gurugram, with a new outlet in the financial capital!

"Our stores are incredible places to experience the magic of Apple, and it's been wonderful to deepen our connection with our customers in India. We're thrilled to build our teams as we plan to open more stores in India, because we're inspired by the creativity and passion of our customers across this country," said Deirdre O'Brien, Apple's senior vice-president of retail.

Bullish on India as its manufacturing hub in the making, the company also confirmed the production of the entire iPhone 16 lineup from the country, including the Pro and Pro Max models.

• Foxconn is making iPhone 16, 16 Plus, and Pro Max models, while Pegatron is making iPhone 16, 16 Plus, and 16 Pro models 

• Tata Electronics is making the iPhone 16 base model

As part of its strategy to diversify production away from China, Apple is also exploring opportunities to manufacture a broader range of products, including iPads, AirPods, MacBooks, and iMacs, in India.

Apple aims to expand its production base in the country, targeting to manufacture a quarter of all its iPhones in India over the next 3–4 years. 

• Apple assembled $14 billion worth of iPhones in India in FY24, constituting 14% of its global iPhone production

Find out more

Picture credit: Meta.ai

After several quarters of demand uncertainty, the Indian IT sector seems to be emerging from the shadows.

As the country's largest software exporter, Tata Consultancy Services (TCS) kicks off the Q2 earnings season next week, the industry is eagerly anticipating a positive performance.

• The performance for July to September will be driven by steady deals and improving client sentiment, according to brokerage houses
  
  
• Leading the charge will be Tier-I companies such as Infosys, HCLTech, and TCS

Analysts suggest that IT companies could benefit from pass-through revenues (referring to income from selling third-party services) in Q2, similar to the previous quarter.

• Brokerages project that Tier-I companies will post sequential constant currency growth in the range of 1-3.5%

Analysts will also be looking for updates on discretionary spending, the outlook for H2, deferred salary hikes, and Generative AI deals in Q2.

Speaking of generative AI (Gen AI), Indian public sector companies and BFSI firms are increasingly adopting on-premises private cloud systems for their Gen AI experiments. 

• This shift is driven by concerns over data security, regulatory uncertainty, and cost predictability on public cloud

Companies like Dell, HPE, IBM, and Cisco are witnessing increased traction in the on-premise private cloud space. 

• Even major hyperscalers like AWS, Google Cloud, and Microsoft Azure are offering private cloud solutions to cater to the growing demand

The Indian Space Research Organisation's (ISRO) multiple iconic campuses might soon turn into prime real estate for satellite ground stations.

IN-SPACe, the space sector's regulator, and ISRO are exploring the possibility of allowing private companies to set up satellite ground stations within the space agency’s premises under a concept called ground station as a service (GSaaS).

• GSaaS is a model where companies outsource their ground station operations to providers, who offer services on a subscription or pay-per-use basis

• Ground stations on Earth communicate with satellites in space by sending and receiving signals

Startups like Dhruva Space and Azista Aerospace have received approval from IN-SPACe to set up their ground stations.

Sharing ground stations can reduce the need for multiple stations at a single site, leading to significant cost savings for all involved.

• IN-SPACe proposes that shared ground stations should be operated by multiple GSaaS providers or a consortium

Dig deeper

Picture credit: Microsoft Copilot

While some Indians are using digital crayons to paint the sky bright, others are reaching into their pockets to witness the celestial spectacle of the Northern Lights.

• Despite the hefty price tag of Rs 3 lakh per person, searches for Northern Lights tours have increased by 1.8 times

Norway, Finland, and Iceland are among the most popular destinations for this breathtaking natural light show. 

Find out more

Picture credit: Meta.ai

• OpenAI has secured a new $4 billion revolving credit line, a day after it closed a $6.6 billion funding round.
  
  
• Cisco Systems is set to invest in CoreWeave, valuing the cloud services provider at $23 billion.

Dive into a world of cyber-thriller intrigue with CTRL. 

• Ananya Panday and Vihaan Samat star as a seemingly perfect influencer couple whose lives unravel when a betrayal leads to a dangerous AI intervention. Watch it on Netflix

If you're craving a more suspenseful watch, look no further than House of Spoils. 

This series follows a talented chef navigating the challenges of opening her dream restaurant while dealing with everything from a troublesome investor to a mysterious haunting. Watch it on Amazon Prime Video

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