News and Updates for 12th February, 2025

Karnataka’s new industrial policy eyes investments of Rs 7.5 lakh crore and 20 lakh jobs in 5 years

With a focus on sustainability, regional balance, MSME growth and innovation, Karnataka’s Industrial Policy 2025-30 aims to generate large-scale employment and economic opportunities.

Source: The Indian Express

PM Modi’s message at AI Action Summit: Open source, sustainability, job optimism

Prime Minister Narendra Modi on Tuesday emphasised the need to build quality data sets that are “free from biases” and embrace open-source models. He also carried a rather hopeful message on the potential impact of AI on jobs.

Source: The Indian Express

Unicorns in Hyderabad See 74% Growth in Hiring

Banking unicorns register a 35% growth in hiring, e-commerce records 18% growth

Source: Deccan Chronicle

Meta Layoffs: Mark Zuckerberg's Company Plans To Layoff 5% Of Employees

Meta Layoffs: Meta Platforms, the parent company of Facebook, is set to begin company-wide layoffs this week

Source: News18

Musk-led DOGE’s access to US treasury data raises alarms over security, financial stability

This unprecedented move has led to lawsuits from advocacy groups and labour unions aiming to protect federal jobs.

Source: The Indian Express

Australia's Tariff Tug-of-War with Trump

President Donald Trump is considering exempting Australia from new steel and aluminum tariffs following a constructive phone call with Prime Minister Anthony Albanese. With Australia's exports bolstering American jobs and shared defense interests, Albanese remains hopeful for a deal to avoid the tariffs.

Source: Devdiscourse

Nothing Boosts Local Employment With 500+ Jobs For 'Made In India' Phone 3a Series

Nothing generates 500+ jobs in India for locally assembled Phone 3a series.

Source: Mashable India

Rural jobs scheme, direct benefit transfers causing labour shortages: L&T chair

The Centre makes direct cash transfers under several schemes, including Pradhan Mantri Kisan Samman Nidhi, Pradhan Mantri Matru Vandana Yojana, National Scheme of Incentive to Girls for Secondary Education, Pradhan Mantri Fasal Bima Yojana, and Mahatma Gandhi National Employment Guarantee Scheme.

Source: Livemint

Budget session begins: Despite no Central funds, Bengal govt didn’t back out from ensuring employment and housing to rural poor: Governor

Governor’s speech reflects thaw with the TMC govt as last year he had refused to read out ‘government-prepared’ speech

Source: The Indian Express

Australia Pushes for Tariff Exemptions on Steel and Aluminium Exports to U.S.

Australia's Trade Minister is advocating for steel and aluminium export exemptions from U.S. tariffs, citing the creation of American jobs and mutual defence benefits. Australia's ongoing talks with the U.S. administration are part of a broader effort tied to defence collaborations like the AUKUS submarine project.

Source: Devdiscourse