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TWTW Weekly Wrap Up: 30 Apr-6 May

"The Digital India Act is a game-changer for protecting user data and ensuring accountability of Big Tech companies in India!" - Jagdish Mitra, Chief Strategy Officer & Head of Growth, Tech Mahindra

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Last Week’s Latest

  • The White House plans to meet with top executives from Google, Microsoft, Open AI and Anthropic to discuss the promise and risks of artificial intelligence.
  • Microsoft launches Pegasus program for startups, awarding up to USD 350,000 in credits.
  • Twitter makes its API free for public announcement accounts.
  • The FinOps Foundation launches FOCUS, a new spec for sharing cloud cost data.
  • Apple and Google team up on industry spec to make Bluetooth tracking devices, like AirTag, safer.
  • India to introduce new Digital India Act to regulate Big Tech.
  • Microsoft brings 2 new initiatives to empower Indian SMBs.
  • Fierce artificial intelligence talent war shifts to India with salaries being doubled.
  • India at par with NATO nations for tech trade, tells US official.
  • Startup funding in India drops 12 per cent sequentially to USD 3.4 billion in Q1 2023.

Focused Story Of The Week #1:How Big Companies Can Help Startups Scale And Drive Economic Growth

In today's interconnected global economy, startups are not only drivers of innovation but also play a significant role in driving economic growth. However, many startups face significant challenges when it comes to scaling their businesses and reaching new markets. Fortunately, big companies can play a vital role in helping startups overcome these challenges and create a positive impact on the global economy.

One way that big companies can help startups scale and grow is by providing them with access to international markets. Startups often lack the resources and connections necessary to expand their business beyond their home market, and big companies can provide them with the infrastructure, networks, and resources they need to enter new markets. By working with startups, big companies can leverage their global presence and expertise to help them navigate complex international regulations, expand their customer base, and grow their businesses globally.

Another way that big companies can help startups is by providing them with access to talent and expertise. Startups often struggle to recruit and retain top talent due to their limited resources, and big companies can provide them with access to experienced professionals in a wide range of fields. This can include everything from technical expertise to business strategy and marketing, helping startups to build and grow their businesses more effectively.

Big companies can play a crucial role in helping startups scale and create a positive impact on the global economy. By providing startups with access to international markets, talent, and expertise, and partnering with them to develop new products and services, big companies can help startups to grow and succeed, driving economic growth and creating new opportunities for businesses and consumers around the world.

"Big companies partnering with startups to drive innovation and global economic growth - a win-win for all!"

Focused Story Of The Week #2: India To Introduce Digital India Act To Regulate Big Tech And Protect User Data

India is set to introduce a new Digital India Act that will regulate Big Tech companies operating in the country. The proposed legislation aims to strengthen data protection and privacy laws by regulating tech firms accused of monopolistic practices and abuse of user data. The act will give the Indian government the power to regulate Big Tech firms on various fronts, including data privacy, content moderation, and antitrust regulations. A Digital India Regulatory Authority (DIRA) will be set up to enforce the provisions of the act and regulate tech companies in the country. 

India has over 700 million internet users, and the number is expected to reach one billion by 2025. The proposed legislation is essential to ensure the protection of user data and prevent abusive practices by tech companies. The act has been welcomed by industry experts and activists who have long been advocating for the regulation of Big Tech companies in India. 

However, there are concerns about the potential impact of the Digital India Act on innovation and competition in the tech industry. Some experts fear that the act could stifle innovation and limit the growth of the tech industry in the country. The DIRA will have significant powers, and there are concerns that it could be used to stifle competition and innovation in the tech industry.

Overall, the Digital India Act is an important step towards protecting user data and regulating Big Tech companies in the country. It will provide a framework for ensuring that the tech companies operating in India are held accountable for their actions and that user data is protected. However, there is a need to strike a balance between regulation and innovation to ensure that the tech industry continues to thrive in the country.

"The Digital India Act is a game-changer for protecting user data and ensuring accountability of Big Tech companies in India!"