What is it? The number of computer engineers who will be freed up this year due to Wipro’s use of its artificial intelligence platform Holmes. The platform Holmes would be used to automate some tasks of fixed-price projects.
Why is it important? An early indicator of how automation can impact jobs in one of the highest paying sectors in the country. For the companies it can cut down labour costs – the move will save Wipro up to $46.5 million. Other IT firms TCS and Infosys are also working with their artificial intelligence systems to boost revenue per employee and profitability figures.
Tell me more: Wipro plans to sell the platform to existing and new clients to earn about $60-70 million.
What is it? Median monthly generic drug price in India, according to a study of cancer drug prices in seven countries.
Why is it important? While this is among the lowest in the world, in terms of affordability, it is among the most expensive. The cost of generics as a percentage of domestic product per capita at purchasing power parity is 33% in India. Cancer drug prices are the highest in the US where the median monthly price for generics is $654 or 14% of wealth adjusted for cost of living.
Tell me more: In case of branded drugs, the situation is even worse in India. The median monthly price of branded drugs is $1,515 , which is 313% of domestic product per capita at purchasing power parity.
Rs 30,000 crore
What is it? State owned NTPC Ltd’s proposed investment in 2016-17, part of which would go towards stepping up its renewable energy generation.
Why is it important? It is likely to help the country achieve its target of meeting 40% of its energy demands from non-fossil fuels (such as nuclear, wind, water and solar) by 2030. NTPC is reviewing its long-term plans of achieving 128 GW of capacity by 2032, of which over a tenth is to be accounted for by renewable energy.
Tell me more: NTPC, which accounts for a sixth of India’s power capacity, plans to add 1,000 MW of wind power in the current fiscal and to produce 10% of India’s target of installing 100 GW of solar capacity by 2022. NTPC will raise Rs 20,000 crore in debt, of which Rs 7,000 crore would be from overseas lenders.
What is it? The area of land Indian government has allotted for the development of a naval detachment on Bitra island in Lakshadweep.
Why is it important? It will help government increase its military presence on the eastern and western coasts as it jostles with China to exert greater influence over the important Indian Ocean region and protect its maritime interests. Both the countries are improving their infrastructure and bettering their relations with smaller countries such as Bangladesh, Maldives and Sri Lanka, which also have strategic interests in the region.
Tell me more: It is also establishing/upgrading its naval detachments on remote islands such as Kavaratti, Minicoy and Agatti and setting up military bases at Tuticorin (Tamil Nadu) and Paradip (Odisha).
What is it? Number of stolen artifacts the US returned to the Indian government on Monday.
Why is it important? Most of them were recovered from a decade-old ‘Operation Hidden Idol’, which led to the arrest of six people and recoveries of items worth $100 million. The artifacts, some of them that date back to 2,000 years, were stolen from India’s most valued religious sites.
Tell me more: The US has returned over 7,500 artifacts to different countries in the last 10 years.