Infosys CEO receives Rs 66.2 Cr compensation for FY24
Here is your daily dose of key developments from the technology world of India.
Infosys CEO salary rises by 17.3% to touch Rs 66.2 Cr in FY24
Infosys CEO Salil Parekh received a total compensation of Rs 66.2 crore for the 2023-24 fiscal year compared with Rs 56.4 crore in FY23—a rise of 17.3%. This compensation includes basic salary, variable pay, and stock incentives, among others, as per the company’s annual report.
Parekh's fixed salary touched Rs 7.47 crore in FY24 compared with Rs 7.12 crore earned in FY23. The bonus component stood at Rs 19.75 crore for FY24 against Rs 18.73 crore in FY23. The compensation also included Rs 39.03 core due to excise of 2,58,636 restricted stock units in FY24—higher than Rs 30.60 crore in FY23.
IESA signs MoU with KDEM to promote semicon sector in Karnataka
The India Electronics and Semiconductor Association (IESA) has partnered with the Karnataka Digital Economic Mission (KDEM) to strengthen the ESDM and semiconductor ecosystem, and expedite the unlocking of the potential of the electronics sector in the state.
Focused on promoting startups, innovation, and entrepreneurship within the industry, IESA and KDEM signed a Memorandum of Understanding under which the two will make efforts to build a pipeline of companies setting up operations in Karnataka, including fabrication units, OSAT/ATMP units, and component manufacturers.
IESA will provide insights and analysis to understand the current state of the semiconductor and ESDM ecosystem in the state while making recommendations for interventions to foster growth in Bengaluru and regions identified under KDEM’s ‘Beyond Bengaluru’ initiative.
HCL gets certification from SAP for its MRO tech platform
HCLTech has announced that iMRO/4, its maintenance, repair and overhaul (MRO) solution for clients in the transportation, utilities, hi-tech, energy and aerospace and defence industries, has earned Premium Qualification for SAP Solution Extensions on the SAP S/4HANA 2023 version.
The qualification recognises HCLTech’s commitment to providing enterprises with a stable solution for managing and maintaining high-value assets that comply with SAP standards and enable future innovation including AI development.
The iMRO/4 suite of products extends SAP Enterprise Resource Planning (ERP), Enterprise Asset Management (EAM) and Intelligent Asset Management (iAM) capabilities, helping enterprises improve their processes across the maintenance lifecycle, including engineering, operations, scheduling, supply chain, customer engagement, and support.
Ascendion opens Gen AI studio in Chennai
Ascendion, an AI-powered software engineering company, has launched its GenAI Studio in Chennai. The Chennai studio, part of Ascendion’s six major innovation hubs globally, will allow its clients to explore GenAI solutions hands-on that will enable customisation of the requirements based on their business needs. It will allow for upskilling of its employees.
Flying Wedge Defence receives DGCA certification for new drone
Flying Wedge Defence and Aerospace has bagged another certification from the Directorate General of Civil Aviation for its FWDA10-V1, a medium-class rotorcraft (Hexacopter). FWDA10-V1 is specifically designed for agrochemical spraying for agricultural purposes. This is equipped with a spray system capable of holding a maximum 10.5-litre tank for agrochemical spraying with a maximum all-up weight of 28.2 kg.
NYX.today to launch its tech platforms in India for digital content generation
NYX.today, an AI company focused on content generation, is planning to launch its tech platforms in the Indian market next month. The platform utilises advanced AI models and deep learning algorithms, trained on datasets of user engagement metrics.
It aims to predict which visuals are most likely to engage audiences and drive high click-through rates. This predictive power gives users a data-driven advantage, enabling them to refine their content strategies for maximum real-time impact. The system supports the creation of digital content, including product imagery, videos, lyrics, and more.
Edited by Kanishk Singh