Visa and Skill India Ink 3-Year Partnership to Upskill 20,000 Youth in Tourism-relevant Skills

Visa has partnered with the Tourism & Hospitality Skill Council (THSC) under the Ministry of Skill Development & Entrepreneurship to upskill 20,000 Indian youths in tourism-related skills.

This three-year partnership, valued at up to $1 million, aims to enhance the tourism service experience across 10 states, including Assam, Gujarat, Himachal Pradesh, and West Bengal.

The program will focus on essential roles within the tourism industry, such as tour guides, customer service executives, naturalists, and paragliding tandem pilots.

This initiative is expected to boost employment prospects for the youth and improve the overall experience for tourists visiting India.

The Tourism & Hospitality Skill Council (THSC) is a key player in India’s skill development ecosystem, operating under the Ministry of Skill Development & Entrepreneurship (MSDE) and the National Skill Development Corporation (NSDC).

Notably, India’s tourism sector is a significant contributor to the country’s economy and employment. Here are some key points about the tourism industry in India:

Tourism contributes around 5.8% to India’s GDP. The sector supports approximately 32.1 million jobs, which is about 7.3% of the total employment in the country

THSC aims to bridge the skill gap in the tourism and hospitality industry by creating a robust and sustainable ecosystem for skill development.

Besides this, Visa has been actively forming partnerships in India across various sectors. The American multinational payment card services corporation has also partnered with major Indian banks like State Bank of India and HDFC Bank to expand their merchant payments acceptance network. Additionally, Visa launched the ‘Visa in a Box’ accelerator program with ICICI Bank to support fintech startups.

Moreover, Visa is collaborating with UPI payment solution providers and digital wallets to integrate card payments with QR code-based transactions. This partnership aims to enhance the flexibility and convenience of digital payments for consumers.

e-Curse: 5 Kids in Bihar Learning To Make Bomb By Watching YouTube Got Injured by Explosion

In an incident that is truly tragic and concerning for the society, some children in Muzaffarpur, Bihar, aged between 7 to 12 years were trying to make a bomb after watching a YouTube video when tragically the bomb accidentally exploded, injuring five children.

Unfortunately, the bomb explosion resulted in injuries to five children. The incident has sparked widespread concern and has gone viral on social media.

These children from BIHAR were making Bombs,learning via Youtube. while making it exploded but only caused minor injuries to them they are safe Now..@YouTube should not encourage such videos that harm people. pic.twitter.com/vNV9Dgeknb

— Ashwin.. (@EvilTweetX) August 8, 2024

Local authorities have emphasized the need for parents to monitor their children’s online activities more closely. They also highlighted the importance of educating children about the dangers of attempting to replicate hazardous activities seen online. This tragic event underscores the critical need for better digital literacy and safety measures to protect children from such risks.

This highly concerning incident highlights the critical need to monitor children's online activities. It is essential to ensure that children are safe and aware of what they are watching and learning on the internet.

To prevent such incidents, social media platforms can play a crucial role in preventing incidents like the one in Muzaffarpur by implementing several key measures such as Proactive Monitoring wherein the online video platforms use advanced algorithms and AI to detect and remove harmful content, such as videos showing how to make dangerous items like bombs.

These platforms must also encourage users to report inappropriate or dangerous content and ensure that reported content is reviewed and acted upon promptly.

Besides, parents should also keep an eye on what their children are watching online. Use parental control settings on devices and platforms like YouTube to restrict access to inappropriate content. Parents must teach children about the dangers of attempting to replicate dangerous activities seen online. Encourage open communication so they feel comfortable discussing what they watch.

Need for School and Community Programs:

Safety Workshops: Schools and community centers can organize workshops to educate children about online safety and the potential risks of imitating dangerous activities.

Digital Literacy: Incorporate digital literacy into the curriculum to help children understand how to use the internet safely and responsibly.

Flagging Dangerous Content

From April to June 2024, YouTube received over 23 million flags from human users. This indicates a high level of community engagement in reporting inappropriate content.

The most common reasons for flagging videos include spam or misleading content, hateful or abusive content, sexual content, violent or repulsive content, and harmful or dangerous acts.

A significant portion of flagged content is reviewed and acted upon. For instance, from October to December 2017, 75.9% of all automatically flagged videos were removed before they received any views.

Improvements in automated flagging systems have also helped detect and review content even before it is flagged by the community. More than 80% of auto-flagged videos were removed before receiving a single view in the second quarter of 2019.

Reportedly, YouTube employs trained human reviewers who evaluate flagged content 24/7 to ensure it violates the Community Guidelines before taking action. This helps maintain a balance between automated systems and human judgment.

By taking required steps, both by parents are and social media platforms, a safer online environment can be created which would help prevent such tragic incidents. 

SBI Unveils Its First Co-Lending CPC

Shri. Surender Rana DMD (ASF), SBI inaugurated State Bank of India’s first co-lending Centralised Processing Cell (CPC) at Nariman Point, Mumbai. The CPC is a dedicated unit for co-lending business of NBFCs.

In order to have seamless operations of specialized activity under Co-lending, a dedicated Centralised Processing Cell (CPC) for Processing & Sanctioning of Loans is setup by the Banks.

The NBFCs under the Co-Lending Model sources the loan proposals from all locations in India and forwards to the Bank from their Centralized Location. On behalf of the Bank, CPC undertakes Loan proposals Acceptance, Disbursement, Monitoring and Reconciliation.

The inauguration ceremony witnessed the presence of SBI dignitaries, Shree. Shantanu Pendsey CGM (ABU & GSS) and Smt. Salila Pande CGM MMR. Other dignitaries from the corporate centre and NBFC teams of NIDO Home Finance and Ugro Capital Ltd. were present as well.

The inauguration of co-lending CPC is a step towards demonstrating SBI’s commitment to growing its co-lending book with a focus on safety and sustainability.

This commitment is in line with SBI's ongoing efforts to support MSMEs and the under-served population where the bank has made significant strides in FY24. To strengthen support to MSMEs having little or no access to formal credit, SBI has entered into a co-lending agreement with 9 NBFCs. Further, to dedicatedly continue reaching out to the unserved and under-served populace, the bank has signed MoUs with 23 NBFCs/HFCs under co-lending model.

The inauguration of the co-lending CPC reflects SBI’s determination to grow the co-lending book in a safe way and reiterates the bank’s dedication towards welfare of MSMEs and under-served population.

NVIDIA with Its Partners Launch Catalog of Pre-Trained, Customizable AI Workflows for Enterprises to Make Their Own AI

NVIDIA, along with its global partners including Accenture, Cisco, and Dell Technologies among others, has launched NIM Agent Blueprints, a catalog of customizable AI workflows designed to help enterprises build and deploy generative AI applications. These blueprints include pretrained models, sample applications, and deployment tools for various use cases such as customer service avatars, drug discovery, and data extraction.

The initiative aims to accelerate the development of AI applications by providing enterprises with the necessary tools and frameworks. Partners like Accenture, Cisco, Dell Technologies, Deloitte, Hewlett Packard Enterprise, Lenovo, SoftServe, and World Wide Technology are among the first to support this effort.

This launch is part of NVIDIA's broader strategy to make AI more accessible and customizable for businesses, enabling them to create data-driven AI applications that can be refined continuously based on user feedback.

The first NIM Agent Blueprints now available include a digital human workflow for customer service, a generative virtual screening workflow for computer-aided drug discovery and a multimodal PDF data extraction workflow for enterprise retrieval-augmented generation (RAG) that can use vast quantities of business data for more accurate responses.

NIM Agent Blueprints are free for developers to experience and download and can be deployed in production with the NVIDIA AI Enterprise software platform.

Available Customization Options

The NIM Agent Blueprints offer a range of customization options to help enterprises tailor AI solutions to their specific needs:

1. Pretrained Models: Enterprises can start withextension. d models and fine-tune them using their own data to improve accuracy and relevance for their specific use cases.

2. Sample Applications: These provide a starting point that can be modified to fit the unique requirements of different industries and applications.

3. Deployment Tools: The blueprints include tools for deploying AI models in various environments, whether on-premises, in the cloud, or at the edge.

4. Integration Capabilities: Enterprises can integrate these AI solutions with their existing systems and workflows, ensuring seamless operation and data flow.

5. Scalability Options: The blueprints are designed to scale, allowing businesses to expand their AI applications as their needs grow.

These customization options enable businesses to create AI solutions that are not only effective but also aligned with their specific operational goals and challenges.

Examples of NIM Agent Blueprints

1. Digital Human for Customer Service: This blueprint helps create AI-powered digital avatars that can interact with customers, providing support and answering queries in a human-like manner.

2. Generative Virtual Screening for Drug Discovery: This blueprint is designed for the pharmaceutical industry to accelerate drug discovery by using generative AI to screen potential drug candidates.

3. Multimodal PDF Data Extraction: This blueprint assists in extracting and processing data from PDFs using multimodal AI techniques, which is particularly useful for enterprise retrieval-augmented generation (RAG) applications.

These blueprints are designed to be customizable and come with pretrained models, sample applications, and deployment tools to help enterprises quickly build and deploy their own AI solutions.

The blueprints provide APIs that allow easy integration with existing software and platforms, enabling smooth data exchange and functionality extension. Additionally, the blueprints are designed to work with a wide range of existing enterprise tools and systems, such as CRM, ERP, and other business applications.

Jensen Huang, founder and CEO of NVIDIA, said, "Generative AI is advancing at lightspeed. Frontier model capabilities are growing exponentially with a continuous stream of new applications. The enterprise AI wave is here. With the NVIDIA AI Enterprise toolkit — including NeMo, NIM microservices and the latest NIM Agent Blueprints — our expansive partner ecosystem is poised to help enterprises customize open-source models, build bespoke AI applications and deploy them seamlessly across any cloud, on premises or at the edge.”

Indian Govt Investing ₹450 Cr in One of Nokia's Largest R&D Labs

Nokia is set to establish the world's largest fixed network testbed in Chennai. This initiative involves an investment of about ₹450 crore by the central government of India, and will be one of Nokia's largest research and development (R&D) laboratories. The testbed will focus on developing next-generation networks, including 10G, 25G, 50G, and 100G passive optical networks.

The deal will be signed in San Francisco on Friday morning in the presence of Tamil Nadu Chief Minister (CM) M K Stalin, who is on a 17-day trip to the US to attract fresh investments.

This project is expected to create around 100 specialized jobs and will be located at the State Industries Promotion Corporation of Tamil Nadu in Siruseri.

The testbed will facilitate the development of next-generation network technologies, such as 10G, 25G, 50G, and 100G passive optical networks. This can lead to advancements in network speed, reliability, and efficiency.

With an investment of ₹450 crore by India's Central Government, the project is expected to create around 100 specialized jobs, boosting local employment and contributing to the economic development of the region.

This development underscores Chennai's growing importance as a hub for technological innovation.

Several companies are investing in significant R&D facilities, similar to Nokia’s initiative in Chennai.

Microsoft has established multiple R&D centers in India, focusing on areas like AI, cloud computing, and cybersecurity. Intel has a major R&D presence in India, particularly in Bengaluru, where they work on semiconductor technology, AI, and IoT solutions. IBM’s R&D centers in India are involved in cutting-edge research in AI, quantum computing, and blockchain technology.

These investments highlight the growing importance of India as a hub for technological innovation and development.

L&T Semiconductor and C-DAC Collab to Create Make-In-India Integrated Circuits, SoCs and ESDM Solutions for Global Market

L&T Semiconductor Technologies (LTSCT) recently signed a Memorandum of Understanding (MoU) with the Centre for Development of Advanced Computing (C-DAC).

This strategic collaboration aims to drive indigenization efforts and accelerate innovation in areas of mutual interest. Specifically, they will focus on creating Make-in-India Integrated Circuit (IC) / System-on-Chip (SoC) and Electronics System Design & Manufacturing (ESDM) solutions for automotive, industrial, and energy applications.

By reducing reliance on electronic imports, this partnership contributes to strengthening India's economic foundation. Kudos to both organizations for fostering innovation and positioning India as a leader in the semiconductor sector.

By focusing on Make-in-India ICs and SoCs, the collaboration aims to reduce dependency on imports, fostering a more self-reliant semiconductor ecosystem.

Moreover, the focus on automotive, industrial, and energy applications means that critical sectors will benefit from advanced, locally-produced semiconductor solutions, enhancing their efficiency and competitiveness.

The partnership will likely spur innovation and research in advanced semiconductor technologies, positioning India as a hub for cutting-edge developments in this field.

Enhanced local manufacturing and design capabilities can lead to job creation and economic growth, contributing to India’s GDP.

Congratulating both the organisations, Dr Sunita Verma, Group Coordinator, (R&D E&IT) from the Ministry of Electronics and Information Technology (MeiTY), said: “The signing of this MoU between L&T Semiconductor Technologies and C-DAC indicates the Government’s commitment to fostering public-private partnerships that drive innovation and economic growth. This collaboration not only underscores the importance of indigenisation in the semiconductor sector but also paves the way for India to take a leadership role on the global stage. We look forward to the transformative impact that this partnership will have on the nation’s technological landscape.”

Mr Magesh E, Director General – C-DAC, highlighted that the collaboration will significantly boost the semiconductor industry and strengthen the Digital India RISC-V (DIR-V) ecosystem. “The partnership in developing Vega based indigenous ICs and SoCs is set to accelerate the vision of Atmanirbhar Bharat by enabling the development of cutting-edge products and solutions for automotive, industrial, ICT infrastructure and the energy sectors. With a shared vision and the capability to deliver world-class solutions, this collaboration is expected to break new ground in semiconductor and related domains,” he said.

Mr Sandeep Kumar, Chief Executive – LTSCT, said: “This collaboration, led by LTSCT, will create a powerful commercialisation programme for advanced technologies created by C-DAC in semiconductor design & development, embedded software, open-source OS, HPC and power systems. C-DAC’s deep pipeline of indigenous IPs, including the VEGA processor, application design and FPGA validation will be turned into global product opportunities by LTSCT. The joint efforts are anticipated to yield innovative products and solutions that will benefit diverse sectors of the Indian economy while significantly enhancing the nation’s technological capabilities and positioning India as a leader in each of the sectors.”

Adani Enterprises Announces Maiden Public Issuance of Secured NCDs

Adani Enterprises Limited (AEL), the flagship company of the Adani Group, has announced its maiden public issuance of secured non-convertible debentures (NCDs) to raise up to ₹800 crore. Below are key information about the same:

Issue Dates: The NCD issue will open on September 4 and close on September 17, 2024, with an option for early closure or extension.

Credit Rating: The NCDs proposed to be issued have been rated "CARE A+; positive" by CARE Ratings Ltd. Securities with this rating are considered to have an adequate degree of safety regarding timely servicing of financial obligations and carry low credit risk.

Offering Details: AEL's offering includes up to 80 lakh NCDs, each with a face value of ₹1,000. The base size issue is ₹400 crore, with an option to retain oversubscription up to an additional ₹400 crore (greenshoe option), aggregating up to ₹800 crore.

Use of Proceeds: The proceeds from the issue will primarily be used for prepayment or repayment (at least 75%) of existing indebtedness and general corporate purposes (up to 25%) in compliance with SEBI regulations.

Lead Managers: Trust Investment Advisors Pvt Ltd, A K Capital Services Ltd, and Nuvama Wealth Management Ltd are the lead managers to the issue.

Tenors and Interest Payment Options: The NCDs are available in tenors of 24 months, 36 months, and 60 months, with quarterly, cumulative, and annual interest payment options across eight series.

India To Accept Local Currencies For Trade, Sideline US Dollar

India and the United Arab Emirates (UAE) have taken a significant step by initiating trade using their respective local currencies, moving away from the dominant use of the US dollar in international transactions.

The decision to accept native currencies could be taken at the upcoming BRICS summit in October in the Kazan region of Russia. Notably, India is keen on using local currencies only when they are "non-binding". 

Recently, Indian Oil Corporation purchased one million barrels of oil from the Abu Dhabi National Oil Company using Indian rupees instead of the US dollar. Similarly, a UAE gold exporter sold 25 kg of gold to an Indian buyer for approximately ₹12.8 crore ($1.54 million) in a similar currency-to-currency exchange.

This trend reflects a broader global effort to reshape the international financial system and reduce dependence on the US dollar. Other influential countries, including China and Russia, have also expressed interest in de-dollarization due to concerns over aggressive US sanctions and foreign policies.

While the US dollar remains dominant, this shift highlights the growing importance of local currencies in cross-border trade and investment transactions.

Using local currencies for trade offers several advantages. For an instance, when trading in local currencies, businesses avoid exposure to exchange rate fluctuations. This stability can enhance predictability and reduce financial risk.

Moreover, by bypassing the need to convert currencies, companies save on transaction fees, currency conversion charges, and other related costs.

To recall, in March it was reported that BRICS, the five Nations group comprising Brazil, Russia, India, China, and South Africa, will work to create an independent payment system based on digital currencies and blockchain.

In May this year, Iran confirmed its collaboration with Russia on developing Central Bank Digital Currencies (CBDC) and tokenized assets for payments.

IBM Relocates R&D to India After Shutting Down China Operations

Recently, IBM has made significant changes to its research and development (R&D) operations. The company is closing its R&D team in China, which will impact less than 1,000 employees. The affected team, which focuses on server and storage technology, will see its job functions transferred to other countries, notably India.

Specifically, Bengaluru in India will be a primary destination for this shift. This move comes amid escalating geopolitical tensions between the US and China, and it reflects a broader trend of companies reassessing their presence in the region.

IBM's strategy adjustment aligns with the diminishing importance of the region for US tech firms, as local clients increasingly opt for home-grown providers.

With a 19.6% drop in revenue last year, IBM has struggled to maintain its foothold in the Chinese market once seen as a key growth area.

The sensitivity of hardware in the context of US-China technological competition is heightened, given both nations' pursuit of dominance in sectors like semiconductors and artificial intelligence.

With IBM’s increased presence in India, there will likely be a boost in the local talent pool. The company’s focus on server and storage technology could attract skilled professionals, leading to knowledge exchange and skill development.

Young Scientists From DRDO's Lab Complete End-To-End Testing of Quantum Processor Based on Superconducting Circuit Technology

Scientists from the DRDO Young Scientists Laboratory for Quantum Technologies (DYSL-QT) in Pune, in collaboration with the Tata Institute of Fundamental Research (TIFR) in Mumbai, have successfully completed the end-to-end testing of a 6-qubit quantum processor based on superconducting circuit technology.

For a novice, Superconducting Circuits are electronic circuits that operate at extremely low temperatures, where certain materials exhibit zero electrical resistance. This property allows for the creation of highly efficient and fast circuits, which are crucial for quantum computing.

Many quantum processors, including those developed by companies like Google and IBM, use superconducting circuit technology.

This milestone by DRDO's young scientists involved submitting a quantum circuit from a cloud-based interface, executing the program on the quantum hardware, and updating the cloud interface with the computed results.

 

Image - DRDO 

The project is a collaboration between DYSL-QT, TIFR, and Tata Consultancy Services (TCS), with the qubits designed and fabricated at TIFR.

The scientists at DYSL-QT developed the control and measurement apparatus using a combination of commercial off-the-shelf electronics and custom-programmed development boards. They are also responsible for optimizing various aspects of the system’s performance before it becomes operational.

The qubits used in the quantum processor were designed and fabricated at TIFR. The architecture of the quantum processor is based on a novel ring-resonator design invented at TIFR.

TCS developed the cloud-based interface that allows users to submit quantum circuits, execute programs on the quantum hardware, and receive computed results.

In future plans, the next steps include scaling up the number of qubits and assessing the technology’s scalability and feasibility for commercial application.

Beside this, the scientists want to further optimize the system's performance and scaling up the number of qubits to assess the technology's scalability and feasibiliy for commercial applications.

Few days back, the National Quantum Mission (NQM) of India announced to offer grants to 10 to 15 startups in the next three months to support startups in the field of quantum computing.

Vodafone Idea Clears All Outstanding Dues with DoT, Including August's Spectrum Payment

Vodafone Idea has successfully cleared all its outstanding dues with the Department of Telecom (DoT), including the payment for spectrum in August 2024, marking the first time it has met its obligations in more than two years, said reports by several media outlets.

The recent fundraising has enabled the telco to start clearing statutory dues and vendor payments. This includes statutory dues such as license fees and spectrum payments for the April-June period. The company remains up to date with its current obligations.

Vodafone Idea has been actively raising funds to strengthen its financial position.

In April, Vodafone Idea raised approximately ₹18,000 crore through a follow-on share sale. This infusion of equity capital helped bolster its financial resources.

Aditya Birla Group (ABG), one of the promoters, also invested ₹2,075 crore in the company earlier this year. This additional equity infusion contributed to the company’s liquidity.

Meanwhile, Vodafone Idea is in discussions with a consortium of banks to secure debt funding for its network expansion plan. The company aims to raise ₹25,000 crore along with additional non-fund-based facilities of up to ₹10,000 crore. These funds will support operational creditors, 5G network rollout, and additional spectrum bids.

The telecom operator has recently announced that it has doubled the capacity of its LTE 2100 MHz band by expanding from 5 MHz to 10 MHz to enable customers with faster network speed and improved internet browsing experiences.

CMC-Vellore and IIT-Madras Jointly Develop Portable, Affordable Robotic Device for Stroke Survivors

Christian Medical College (CMC) Vellore and IIT Madras have developed a portable robotic device named PLUTO (Plug-and-Train Robot for Hand Neurorehabilitation) to aid stroke survivors in their recovery through hand movement therapy. This innovative device is designed to be affordable and user-friendly, making it accessible for use in various settings, including hospitals, small clinics, community centers, and even at home.

Pluto employs a single motor with multiple attachments to train different hand functions, inspired by the design of a mixer grinder⁴. It has already been used by over 1,000 patients across nine clinics in India, showing promising results. The technology has been licensed to Thryv Rehab Solutions for commercialization.

This development is a significant step forward in neurorehabilitation, potentially enhancing the quality of life for many stroke survivors.

This project was led by Prof. Sivakumar Balasubramanian from the Department of Bioengineering at CMC Vellore and Prof. Sujatha Srinivasan from the Department of Mechanical Engineering at IIT Madras.

Pluto was developed in collaboration with the Departments of Physical Medicine and Rehabilitation and Neurological Sciences at CMC Vellore. Initial funding came from the Department of Biotechnology, Government of India, with additional support from CSR grants provided by Tata Boeing Aerospace Limited ( TBAL) and Tata Elxsi Limited, which further enhanced PLUTO’s technological readiness.

The innovation has secured an Indian patent, with patents pending in the US and Canada.

Pluto, the physiotherapy robot, stands out in several ways compared to other rehabilitation devices:

1. Affordability: Pluto is designed to be cost-effective, making it accessible to a broader range of patients, including those in rural or low-income areas. Many advanced rehabilitation devices can be prohibitively expensive.

2. Portability: Unlike many bulky rehabilitation machines, Pluto is portable and can be used in various settings, including at home. This flexibility is crucial for continuous therapy, which i often needed for effective stroke recovery.

3. User-Friendly Design: Inspired by the simplicity of a mixer grinder, Pluto uses a single motor with multiple attachments to train different hand functions. This design makes it easy to use without extensive training.

4. Proven Effectiveness: Pluto has already been tested on over 1,000 patients across nine clinics in India, showing promising results. This real-world usage provides a strong foundation for its effectiveness.

5. Customization: The device can be tailored to individual patient needs, which is essential for personalized rehabilitation plans.

In comparison, other rehabilitation devices might offer more advanced features or higher precision but often at a higher cost and with less portability. Pluto's balance of affordability, portability, and effectiveness makes it a valuable tool for stroke rehabilitation.

Govt Approves 4 Startups in the Field of Technical Textile with Grant of ~ ₹50 Lakhs Each

The government has given the green light to four start-ups in the domain of technical textiles. Each of these start-ups will receive a grant of approximately INR 50 lakhs under the 'Grant for Research & Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT)' scheme.

This was announced in the 8th Empowered Programme Committee (EPC) meeting, chaired by Secretary, Ministry of Textiles, under the National Technical Textiles Mission, on Tuesday, at Udyog Bhawan, New Delhi.

Technical textiles are engineered fabrics with specific functionalities.

The approved Start-Up projects are focused on key strategic areas of Composites, Sustainable Textiles, and Smart Textiles. The approved Education Institutes have proposed to introduce new B.Tech courses in different fields and applications of technical textiles including Geotextiles, Geosynthetics, Composites, Civil Structures, etc.

Additionally, five educational institutes, including NITs, will introduce new courses related to technical textiles, thanks to a grant of around INR 20 crores. These courses will cover various applications, including geotextiles, geosynthetics, composites, and civil structures.

Technical textiles are materials designed for their functional properties rather than aesthetics. These find applications in various industries. One of the examples is its usage in agriculture for crop protection, shade nets, and soil stabilisation. Another is Fabrics with conductive properties, used in wearables and smart clothing.

India’s technical textiles market is the 5th largest globally, expanding at a CAGR of 8-10% over the past five years. In 2021-22, the market size reached US$ 21.95 billion, with US$ 19.49 billion in domestic production and US$ 2.46 billion in imports.

Recognizing the potential, India has set up a National Technical Textiles Mission with the goal of achieving an average growth rate of 15-20%. The mission aims to increase the domestic market size of technical textiles to US$ 40-50 billion by 2024 through market development, international collaborations, and the Make in India initiative.

The Technical Textiles sector gained further prominence during the Covid-19 crisis, as India rapidly scaled up production of PPE kits and masks, showcasing its ability to innovate even in challenging times.

Last year in October, the Ministry of Textiles cleared 23 strategic research projects worth around INR 60 crores. These projects cover areas like specialty fibers, sustainable textiles, geotextiles, mobiltech, and sports textiles.

IBM Shutting Down Its R&D Labs in China and Layoff 1000 Employees

IBM has officially confirmed that it will completely shut down its China research and development (R&D) operation, affecting more than 1,000 jobs. The decision comes amid the company’s struggles with falling demand for its hardware and challenges in growth markets like China.

However, IBM emphasizes that these changes will not impact its ability to support clients across the Greater China region. IBM’s R&D labs in China were operational for several years before the recent its to shut them down.

Going forward, IBM will focus on assisting private enterprises and select multinationals with hybrid cloud and AI solutions.

IBM’s decision to shut down its R&D labs in China and lay off over 1,000 employees is part of a strategic shift. The company aims to better serve clients across the Greater China region by focusing on assisting private enterprises and select multinationals with hybrid cloud and AI solutions. This move reflects IBM’s realignment of resources and priorities.

Several companies have scaled back their operations in China due to geopolitical headwinds and challenges in the domestic market. These include Ericsson, Tesla, Amazon.com, and Intel.

These actions reflect the intensified Sino-US rivalry and the need for global businesses to adapt their operations in response. While IBM's sales in China have declined in recent years, the company remains committed to supporting clients across the Greater China region by focusing on hybrid cloud and artificial intelligence solutions.

Govt to Offer Grants to 10 to 15 Promising Startups on Quantum Computing

The National Quantum Mission (NQM) in India is actively supporting startups in the field of quantum computing.

The NQM will offer grants to 10 to 15 startups in the next three months. These grants aim to enable startups to grow, scale, and expand globally. This was announced by NQM's board chairman Ajai Chowdhury.

The plan is to set up four independent section 08 companies, each focused on a specific area – computing, communications, sensing, and materials. These companies are expected to take India-developed quantum products to a global audience.

The government is keen on increasing research and development in quantum technologies (QT). Startups working in this field will receive support to advance quantum computing and related technologies.

Funding Range: The grants will range from Rs 2 crore to Rs 25 crore, based on the startup's technology readiness level and other factors.

This initiative aims to accelerate quantum technology development and research, fostering innovation in India's startup ecosystem.

How to Apply

To apply for the National Quantum Mission grants for quantum computing startups in India, follow these steps:

1. Eligibility Check: Ensure your startup meets the eligibility criteria set by the National Quantum Mission. Typically, this includes being a registered Indian company with a focus on quantum technologies.

2. Prepare Documentation:

• Business Plan: Create a detailed business plan that outlines your startup's goals, technology, and market potential.
• Technology Proposal: Describe your quantum computing project, its innovation, and how it aligns with the mission's objectives.
• Financial Projections: Provide financial projections, including how the grant will be utilized.

3. Application Submission:

Keep an eye out for official announcements regarding the application window.
Submit your application through the designated portal or channel specified by the National Quantum Mission.

4. Evaluation and Selection:

Your application will be evaluated based on technical merit, feasibility, and impact.
If shortlisted, you may be invited for an interview or presentation.

5. Grant Utilization:

If approved, utilize the grant for research, development, and scaling up your quantum computing project.

Remember to stay updated on official announcements and guidelines from the National Quantum Mission.

Tata Sons Pays $2.39 Bn Debt to Dodge Mandatory Listing on Stock Exchange

Tata Sons, the $410-billion holding company of the Tata Group, voluntarily surrendered its certificate of registration to the Reserve Bank of India (RBI) after repaying over ₹20,000 crore (~ US $2.39 billion) in debt. By doing so, Tata Sons remains an unlisted entity and can continue operating as a closely held company without listing its shares on the stock exchange, as mandated by RBI regulations.

This strategic move allows Tata Sons to maintain its status while significantly reducing its liabilities.

Dodging the mandatory listing allows Tata Sons to remain unlisted and retain control over its operations. Listing requirements come with additional costs (such as compliance, reporting, and transparency) that the company can now avoid.

In September 2022, the RBI classified Tata Sons as a Non-Banking Financial Company – Upper Layer (NBFC-UL). According to RBI regulations, NBFC-ULs are required to list their shares on a stock exchange within three years of this classification.

The RBI’s revised regulations mandated that large non-banking finance companies (NBFCs) must list their shares on a stock exchange within three years. For Tata Sons, this meant they needed to be listed by September 202512.

By repaying the debt and surrendering its certificate of registration, Tata Sons could avoid the mandatory listing requirement and continue operating as a closely held company.

Tata Sons is the principal investment holding company and promoter of the Tata Group. The Tata Group is a vast conglomerate with numerous companies across various sectors. Here are some of the major companies within the Tata Group — Tata Consultancy Services (TCS), Tata Motors, Tata Steel, Tata Power, Titan Company, Tata Consumer Products, Tata Chemicals, Tata Communications, Indian Hotels Company Limited (Taj Hotels), Voltas, Trent (Operates retail chains like Westside), Tata Projects, Air India, and acquired-startups like BigBasket and 1mg.

These companies operate independently under the guidance and supervision of their own boards of directors.

Cabinet Approves BioE3 Policy to Foster High Performance Bio-Manufacturing

The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the BioE3 (Biotechnology for Economy, Environment and Employment) Policy.

The BioE3 (Biotechnology for Economy, Environment and Employment) is a landmark initiative that will foster High Performance Bio-manufacturing. This will also encourage scientific, industrial and societal advancements in the times to come. Other benefits include environmental preservation and employment creation.

High performance biomanufacturing is the ability to produce products from medicine to materials, address farming and food challenges, and promote manufacturing of bio-based products through integration of advanced biotechnological processes.

Here are the key points of BioE Policy:

1. Innovation-Driven Support: The policy focuses on innovation-driven support for research and development (R&D) and entrepreneurship across thematic sectors.

2. Accelerating Technology Development: It aims to accelerate technology development and commercialization by establishing Biomanufacturing & Bio-AI hubs and Biofoundry

3. Regenerative Bioeconomy: The policy prioritizes regenerative bioeconomy models for green growth, expanding India's skilled workforce, and creating jobs.

4. Strategic Sectors: BioE3 will address national priorities in sectors such as high-value bio-based chemicals, biopolymers, enzymes, smart proteins, functional foods, precision biotherapeutics, climate-resilient agriculture, carbon capture, marine research, and space research.

This policy sets India on the path of accelerated 'Green Growth' by promoting a 'Circular Bioeconomy.' It envisions a sustainable, innovative future for Viksit Bharat.

Overall, this Policy will further strengthen Government’s initiatives such as ‘Net Zero’ carbon economy & ‘Lifestyle for Environment’ and will steer India on the path of accelerated ‘Green Growth’ by promoting ‘Circular Bioeconomy’. The BioE3 Policy will foster and advance future that is more sustainable, innovative, and responsive to global challenges and lays down the Bio-vision for Viksit Bharat.

Next-Gen Spacesuits to Allow Astronauts Communicate via Voice and Video

Soon, Astronauts will be able to communicate more effectively with mission control and other crew members on the lunar surface. This real-time communication can improve safety, coordination, and decision-making during missions.

Artemis III, the first crewed NASA mission to set foot on the Moon in more than 50 years, will be a historic mission, returning astronauts to the Moon for the first time since Apollo 17 in 1972.

Axiom Space has partnered with Nokia to integrate advanced 4G/LTE communication capabilities into the next-generation spacesuits for the Artemis III lunar mission.

These spacesuits, known as the Axiom Extravehicular Mobility Unit (AxEMU), will support HD video, telemetry data, and voice transmission over multiple kilometers on the Moon. This advancement will allow Artemis III crewmembers to capture real-time video and communicate with mission controllers on Earth while exploring the lunar surface.

Image credit: Axiom Space

Texas, US-headquartered privately funded space infrastructure developer, Axiom Space, has selected Nokia’s Lunar Surface Communications System (LSCS) for integration into its AxEMU spacesuits, which Artemis III astronauts will wear as they work on the lunar surface.

In its collaboration with Axiom Space on the Artemis III lunar spacesuit, Nokia intends to prove that the same cellular technologies that connect billions of devices on Earth can meet the critical communications needs of these seminal missions.

Together, Nokia and Axiom Space will incorporate high-speed cellular-network capabilities in AxEMU, supporting HD video, telemetry data and voice transmission over multiple kilometers on the Moon. This advancement will enable Artemis III crewmembers to capture real-time video and communicate with mission controllers on Earth while they explore the lunar surface.

The ability to transmit HD video and telemetry data over longer distances will facilitate scientific research, exploration, and documentation. Astronauts can share their experiences and findings with experts back on Earth.

Noki plans to deploy the first cellular network on the Moon as part of Intuitive Machines’ IM-2 mission, which is scheduled to be delivered to the launch site in this year only.

The Lunar Surface Communications System (LSCS)

Nokia’s Lunar Surface Communications System (LSCS), pioneered by Nokia Bell Labs’ research and innovation, will be deployed during IM-2 and will be further adapted for use in the AxEMU spacesuit.

While it is a 4G/LTE system at its heart, it is quite different to any cellular network on Earth.

4G/LTE Space Hardware

Nokia Bell Labs completely reconceptualized the hardware and software design of a 4G/LTE network, we experience on the Earth, to prepare the system for the unique operating parameters of a lunar mission and the harsh conditions of the Moon’s surface.

The LCS has been carefully engineered to withstand the extreme environmental conditions on the lunar surface, including radiation, extreme temperature variations and the Moon’s complete lack of atmosphere.

Finally, the equipment is designed to withstand the dynamic stresses of launch, spaceflight and lunar landing, as well as to meet Artemis III’s rigorous weight, size and power limitations.

Notably, the LSCS is the result of nearly two decades of research and innovation into automation, optimization, miniaturization and hardware and software integration. Nokia Bell Labs completely reconceptualized the hardware and software design of a terrestrial 4G/LTE network to prepare the system for the unique operating parameters of a lunar mission and the harsh conditions of the Moon’s surface.

The LSCS has two main components. First, a network-in-a-box combines the radio, base station, routing, security and core elements of a terrestrial network into a single highly resilient unit that will be integrated into the HLS. Second, device modules will be integrated into Axiom Space’s AxEMU spacesuits, providing mobile voice and broadband connectivity up to two kilometers away from the Artemis III human landing system (HLS).

The LSCS network system software is highly integrated and optimized, creating an extremely compact system that is fully autonomous and capable of self-deploying, self-configuring and self-healing.

As lunar missions become more frequent, this collaboration between Axiom Space and Nokia sets a precedent for developing lunar communication infrastructure. Future missions may build upon this technology or explore even more advanced communication systems.

All Indian Salt and Sugar Brands, Packaged or Unpackaged, Contain Micro Plastics - Study

A recent study by the environmental research organization Toxics Link revealed that all tested Indian salt and sugar brands, whether packaged or unpackaged, contain microplastics.

The study, titled "Microplastics in Salt and Sugar" and conducted by the environmental research organisation Toxics Link, examined 10 varieties of salt-as well as five varieties of sugar, procured from both online and local markets.

The findings disclosed the presence of microplastics in all tested samples of salt and sugar, manifesting in various forms such as fibres, pellets, films, and fragments. These microplastics ranged in size from 0.1 mm to 5 mm.

Notably, iodised salt exhibited the highest concentration of microplastics, primarily in the form of multi-coloured thin fibres and films.

The study analyzed 10 types of salt (including table salt, rock salt, sea salt, and local raw salt) and five types of sugar purchased from both online and local markets. These microplastics were found in various forms, including fibers, pellets, films, and fragments, with sizes ranging from 0.1 mm to 5 mm. The much over-hyped iodized salt had the highest concentration of microplastics (89.15 pieces per kilogram), while organic rock salt had the lowest (6.70 pieces per kilogram). This discovery underscores the need for comprehensive research into the long-term health impacts of microplastics on human health, as these tiny plastic particles can enter our bodies through food, water, and air.

The potential health risks of consuming microplastics are a growing concern. Although research is ongoing, below are some known and suspected effefood. 
1. Gastrointestinal Issues: Microplastics can accumulate in the digestive tract, potentially causing irritation, inflammation, and disruption of gut microbiota.

2. Toxic Chemicals: Microplastics can absorb and release toxic chemicals (such as phthalates and bisphenol A) that may leach into the body upon ingestion.

3. Immune System Impact: Exposure to microplastics might affect immune responses, althoLgh the exact mechanisms are not fully understood.

4. Organ Damage: Some studies suggest that microplastics could harm organs like the liver, kidneys, and lungs.

5. Cancer Risk: While not definitively proven, there's concern that long-term exposure to microplastics could increase cancer risk.

It is to be noted that minimizing plastic use and supporting sustainable practices can help reduce microplastic pollution.

The Food Safety and Standards Authority of India (FSSAI) has taken swift action in response to the alarming findings from the study by Toxics Link.

In March 2024, FSSAI launched an ambitious project titled “Micro-and Nano-Plastics as Emerging Food Contaminants: Establishing Validated Methodologies and Understanding the Prevalence in Different Food Matrices.”

On August 18, 2024, FSSAI then launched an innovative project to address the growing concern of microplastic contamination in Indian food. The project aims to develop and validate analytical methods for detecting micro and nano-plastics in various food products. It also assesses their prevalence and exposure levels in India.

FSSAI collaborates with leading research institutions across the country, including the CSIR-Indian Institute of Toxicology Research (Lucknow), ICAR-Central Institute of Fisheries Technology (Kochi), and the Birla Institute of Technology and Science (Pilani).

The project focuses on developing standard protocols for micro/nano-plastic analysis, conducting intra- and inter-laboratory comparisons, and generating critical data on microplastic exposure levels among consumers.

While global studies highlight the presence of microplastics in various foods, this project specifically generates reliable data for India. It will guide the formulation of effective regulations and safety standards to protect public health.

The project aims to:

• Develop Detection Methods: FSSAI is working on standard protocols to detect micro and nano-plastics in food items. 
• Assess Prevalence: By assessing the prevalence and exposure levels of these harmful particles, FSSAI aims to improve food safety across India.
• Establish Safety Standards: The initiative focuses on understanding the prevalence of microplastics in different food matrices, which are the materials that make up the food products we consume.

This proactive step by FSSAI underscores the gravity of microplastic contamination and its potential health risks.

Ecom Express Unveils New Brand Identity

Ecom Express Limited (“Ecom Express”), India’s only pure-play B2C e-commerce logistics solutions provider as of the Financial Year 2024 (Source: RedSeer Report) operating a pan-India express logistics network, has unveiled a new brand identity.

This transformation reflects the company’s conscious commitment to being customer-focused, including addressing specific customer category needs, a focus on customer-facing metrics and key result areas, and seamlessly integrating innovative technology across its pan-India express logistics network, achieving speed, agility along with the widest levels of network reach, to deliver a customer-focused approach.

 

Manju Dhawan, Co-Founder, Ajay Chitkara, CEO & MD and K Satyanarayana Co-founder & Director, Ecom Express at the Unveiling

Ecom Express Warehouse with new Logo

This rebranding initiative features a vibrant, forward-thinking logo and a refreshed visual identity that symbolizes Ecom Express’s pursuit of excellence. The new logo, with its forward-moving arrow enclosed within a square, embodies the company’s commitment to deliver. The ingenious integration of the letter "E" stands for Expression, Innovation, and Progress, while the bold magenta color embodies the spirit of bravery, self-expression, and unyielding strength—. Ecom Express is reintroducing itself with a new identity and a vibrant color—Magenta. This rebranding represents a renewed commitment to their customers, partners, and team. Ecom Express is determined to simplify and democratize logistics for everyone, everywhere,.

Elaborating on the vision behind the transformation, Ajay Chitkara, CEO and MD of Ecom Express, said, “Ecom Express has consistently earned the trust and admiration of our partners, patrons, and customers. As we advance to greater heights, our refreshed brand identity signifies a reaffirmation of our customer-first approach. We are committed to integrating robust technology and innovation to deliver reliable, high-speed services with the widest network reach, all while optimizing operational efficiency and flexibility. He added, “This transformation also strengthens our commitment to our employees and delivery partners, who are fundamental to our business. Our new identity is a testament to our promise of excellence and dedication to redefining logistics through advanced technology aimed at making life easier for all types of customers.”

Ecom Express's new logo is a symbol of its commitment to core values. Each element of the logo embodies Ecom Express's focus on enhancing customer welfare, and fostering a diverse and inclusive environment.

Ecom Express is India’s only pure-play B2C e-commerce logistics solutions provider as of the Financial Year 2024 (Source: RedSeer). Ecom Express operates a pan-India express logistics network covering first-mile pick-up, mid-mile transportation and last-mile delivery as well as reverse logistics (i.e., returns) and fulfilment services (i.e., warehousing). By providing essential logistics infrastructure and leveraging technology capabilities, Ecom Express connects digital retailers and e-commerce platforms to their end consumers across the country. As of March 31, 2024, we had the widest coverage pan-India and in Tier 2+ regions compared to our peers and cover over 27,000 PIN codes (Source: RedSeer Report).

NVIDIA Releases Small Language Model With State-of-the-Art Accuracy

NVIDIA recently introduced the Mistral-NeMo-Minitron 8B, a compact language model that combines state-of-the-art accuracy with efficiency.

The Mistral-NeMo-Minitron 8B is a miniaturized version of the previously released Mistral NeMo 12B model. It has been pruned from 12 billion parameters down to 8 billion, making it more lightweight while maintaining high accuracy.

In its use cases, this model performs exceptionally well across various benchmarks, including language understanding, common sense reasoning, mathematical reasoning, summarization, coding, and generating truthful answers. It's suitable for AI-powered chatbots, virtual assistants, content generators, and educational tools.

Unlike larger language models, the Mistral-NeMo-Minitron 8B can run in real time on workstations and laptops. This makes it easier for organizations with limited resources to deploy generative AI capabilities while optimizing for cost, operational efficiency, and energy use.

Running language models locally on edge devices enhances security since data doesn't need to be transmitted to a server from the edge device.

In summary, this small language model packs a punch in terms of accuracy and efficiency, making it a valuable addition to the AI landscape.

Moreover, Mistral-NeMo-Minitron 8B stands out due to its compact size and impressive accuracy. While GPT-3 by OpenAI is widely known, it has a massive parameter count (175 billion) and requires substantial computational resources. In contrast, the Mistral-NeMo-Minitron 8B achieves competitive performance with just 8 billion parameters, making it more accessible for smaller-scale applications.

BERT (Bidirectional Encoder Representations from Transformers) is another influential model. However, BERT focuses on context-based embeddings rather than generative capabilities. The Mistral-NeMo-Minitron 8B is more versatile, handling both understanding and generation tasks.

Google's Text-to-Text Transfer Transformer (T5) is a powerful model that frames all NLP tasks as text-to-text problems. While T5 is versatile, the Mistral-NeMo-Minitron 8B's efficiency and real-time deployment edge give it an advantage.

In summary, the Mistral-NeMo-Minitron 8B offers a compelling trade-off between accuracy and efficiency, making it an attractive choice for various applications.

Developers can get started with Mistral-NeMo-Minitron 8B packaged as an NVIDIA NIM microservice with a standard application programming interface (API) — or they can download the model from Hugging Face. A downloadable NVIDIA NIM, which can be deployed on any GPU-accelerated system in minutes, will be available soon.

Tata Power Renewable Files Petition for Compensation for 100 MW Losses from Andhra Pradesh Grid Restrictions

Tata Power Renewable Energy Limited has filed a petition seeking compensation for the loss of generation due to grid curtailment in Andhra Pradesh. The Appellate Tribunal for Electricity (APTEL) issued an order in August 2021, stating that the actions of the state utility in issuing backdown instructions were 'mala fide.'

As a result, solar independent power producers (IPPs) are entitled to compensation at 75% of the power purchase agreement (PPA) tariff. This order acts as a deterrent against grid curtailment by discoms and grid operators.

The Andhra Pradesh Electricity Regulatory Commission document dated 20th August says – "Tata Power Renewable Energy Limited (for short “the Petitioner”) has filed this petition under Under Section 86(1)(e) and (f) of the Electricity Act, 2003 (for short “the Act”) seeking a direction to the Respondents to treat the loss of generation of Rs.68.39 crores computed till May 2020 - on account of curtailment of power due to inadequacy of the Transmission System, i.e. Uravakonda Grid Sub-Station (“Uravakonda GSS”) and the consequential rampant backing down instructions given to it, frequently, by the Respondents - as Deemed Generation by the Petitioner; and to direct Respondent No.3-APTRANSCO/Respondent-1 APSPDCL to make payment of the Deemed Generation Charges for the aforesaid Deemed Generation of power."

Additionally, the Supreme Court is examining whether tariff determined under long-term PPAs can be revised by State Electricity Regulatory Commissions. It's essential for timely implementation of such orders to mitigate the impact on debt metrics for renewable energy projects.

Grid curtailment refers to the deliberate reduction or restriction of electricity generation from renewable energy sources, such as solar or wind, by grid operators or utilities. It occurs when the electricity grid is unable to accommodate the full output of these renewable energy projects due to technical limitations or other operational reasons.

Essentially, it’s a way to manage the balance between supply and demand on the grid. When grid curtailment happens, the affected power plants generate less electricity than their capacity, which can impact their revenue and overall project viability.

Adani to Sell 3% in Ambuja Cement for $500 Mn as Part of the Group’s Holdings Adjustment

The Adani Group's promoters are planning to sell up to 3% of their shares in Ambuja Cements as part of a regular holdings adjustment. This move aims to maintain their desired stake across the conglomerate, which spans ports and energy sectors.

The sale involves approximately 7 crore shares (equivalent to 2.84% ownership) in Ambuja Cement, with an offer price of ₹600 per share—a 5% discount to the closing price on the BSE.

Notably, the Adani-led promoter group holds shares worth USD 125 billion across their ten listed companies. This strategic adjustment allows them flexibility for events like acquisitions and investor needs. Ambuja Cement, acquired by Adani in 2022 from Holcim Ltd, is now India's second-largest cement maker. The stake sale will enhance the company's public float.

According to a report by Economic Times, the adjustments in the holdings are done on a regular basis to keep the promoters' interest at a desired level. The equity adjustments typically range from 0.5% cent to 3%. The stake sale in Ambuja Cement is part of that and not linked to any debt reduction, said the report, adding that the debt is at the company level.

Besides, the promoters may also look to shed some stake in Adani Power in October.

Ambuja Cement, a prominent player in the Indian cement industry, has been strategically expanding its footprint.

Ambuja Cement commands an impressive blended cement market share of over 89%. The company's low clinker factor (63%) and Total Shareholder Returns (TSR) of 5.1% contribute to their market leadership.

Ambuja aims to increase its cement capacity to 140 million tons per annum (MTPA) by 2028, adding 2.25 MTPA capacity organically and through inorganic route by acquiring 9.1 MTPA capacity (including 1.5 MTPA from the Tuticorin Grinding Unit).

Ambuja Cements recently signed a definitive agreement to acquire My Home Group’s 1.5 MTPA Cement Grinding Unit in Tuticorin, Tamil Nadu. Spread across 61 acres of land, the unit is strategically located near the Tuticorin Port, enhancing Ambuja’s coastal footprint across southern markets in Tamil Nadu and Kerala.

With this addition, Adani Group’s total cement capacity stands at 78.9 MTPA.

Key Things to Keep in Mind While Taking a Two-Wheeler Loan

Two-wheelers are a popular choice for many. They offer a convenient and economical way to navigate daily life. A two-wheeler offers freedom for commuting, city traffic, or weekend rides. However, purchasing one often requires financial assistance. This is where a two-wheeler loan becomes essential. Before applying, it's important to consider these key points.

Assess Your Financial Capability

Before applying for a loan, assess your finances. Understand your income, current obligations, and how a new loan will fit into your budget. Avoid overextending your finances. Calculate how much you can repay each month without strain. This is crucial to avoid future financial stress.

Research Loan Options

Many lenders offer two-wheeler loans, each with different interest rates, tenures, and amounts. It's essential to research these options thoroughly. Compare offers and choose the one that fits your needs. Bajaj Markets, by Bajaj Finserv Direct Limited, lets you explore options like the Bajaj Auto Finance Two-wheeler Loan. The platform helps you compare and select the best option.

Understand the Interest Rates

A two-wheeler loan often involves costs beyond the interest rate. These include processing fees, prepayment charges, and late payment fees. It’s important to read the fine print and understand all charges. This helps avoid any surprises later. Bajaj Auto Finance Two-wheeler Loan is available on Bajaj Markets. It clearly outlines all costs, ensuring transparency.

Check Eligibility Criteria

Each lender has specific criteria for two-wheeler loans. These include age,efavoids potential rejections. Bajaj Markets provides detailed information on eligibility for Bajaj Auto Finance Two-wheeler Loan. This helps you determine your chances of approval.

Calculate the Loan Amount and Tenure

Determining the loan amount is crucial. Only borrow what you need, not the maximum offered by the lender. This ensures you don’t take on unnecessary debt. Also, choose a loan tenure that suits your repayment ability. A longer tenure may reduce your EMI but increase overall interest paid. A shorter tenure may lead to higher EMIs but helps you pay off the loan faster. Bajaj Markets offers tools like EMI calculators. These help you calculate the best loan amount and tenure for your situation.

Understand Additional Costs

A two-wheeler loan often involves costs beyond the interest rate. These include processing fees, prepayment charges, and late payment fees. It’s important to read the fine print and understand all charges. This helps avoid any surprises later. Bajaj Auto Finance Two-wheeler Loan is available on Bajaj Markets. It clearly outlines all costs, ensuring transparency.

Check the Documentation Requirements

Lenders require certain documents for processing a loan. These usually include proof of identity, income, residence, and the vehicle’s documents. Having these ready can speed up the approval process. Bajaj Markets provides a checklist of required documents. This includes those needed for the Bajaj Auto Finance Two-wheeler Loan. This helps you prepare in advance.

Read the Loan Agreement Carefully

The loan agreement is a binding document detailing all terms and conditions. It includes details such as the interest rate, EMI amount, and repayment schedule. Clauses affecting the loan during its tenure are also covered. If anything seems unclear, clarification from the lender may be needed. On Bajaj Markets, the agreement for Bajaj Auto Finance Two-wheeler Loan is straightforward and easy to understand.

Consider Prepayment Options

Prepayment allows you to pay off your loan before the tenure ends. Some lenders charge a penalty for prepayment, while others don’t. If you expect extra funds in the future, consider a loan with flexible prepayment options. This reduces your interest burden. Bajaj Markets provides information on prepayment policies for Bajaj Auto Finance Two-wheeler Loan. This allows you to make an informed decision.

Maintain a Good Credit Score

Your credit score is key when applying for a loan. A high score increases your chances of approval and may even get you a lower interest rate. Maintain a good credit score by paying bills on time and keeping your credit use low. Before applying for a loan, check your credit score and improve it if necessary. Bajaj Markets offers tools to check and monitor your credit score. This ensures you’re prepared when applying for Bajaj Auto Finance Two-wheeler Loan.

Conclusion

Taking a two-wheeler loan is a significant decision. It requires careful thought. By keeping these key points in mind, you can ensure a smooth process and avoid pitfalls. Bajaj Markets offers a range of options. Bajaj Markets provides various options, including competitive interest rates and flexible tenures. This financial marketplace by Bajaj Finserv Direct Limited ensures transparency in all terms. Explore Bajaj Auto Finance Two-wheeler Loan on Bajaj Markets. Take a step closer to owning your dream two-wheeler today.

ManufacturingTech Startup Fabrication Bazar (Ben & Gaws) Raises $3 Mn from Physis Capital and ICMG

From Left Dwaipayan Dutta (Co-Founder & CEO) and Ankur Gupta (Co-Founder & CTO) 

• Round also saw participation from existing investor Inflection Point Ventures
• Funds raised to be used for further enhancing the tech platform, increasing geographic presence primarily in GCC and SEA regions, and team expansion
• Fabrication Bazar (Ben & Gaws) is an asset light tech-driven Industrial Steel product manufacturing platform which offers high quality steel fabricated products to clients by leveraging its vendor network across India, Vietnam (SEA) and GCC
• Fabrication Bazar has built a verified vendor network of nearly 330+ vendors across India and Vietnam, and has been profitable since inception
• The Company is currently expanding actively in GCC and SE Asian markets

Ben & Gaws Private Limited, which runs the manufacturing tech startup Fabrication Bazar, has raised $3 million in the Pre-Series A round led by Physis Capital. The round also saw participation from Japan based Venture Capital ICMG and existing investor Inflection Point Ventures.

Fabrication Bazar intends to utilize the funds raised, which includes part debt, for further enhancing the tech platform to support the growing scale of the Company, ramping up geographic presence to regions outside India especially GCC and SE Asia markets, and for leadership team hiring.

Founded by Dwaipayan Dutta, Fabrication Bazar is an asset-light tech enabled manufacturing platform for industrial steel products catering to 400+ clients across sectors. With its proprietary manufacturing tech driven process, the Company works with nearly 330+ fabrication vendors across India to improve production efficiency and reduce delivery time by splitting products into multiple parts and processing them simultaneously.

It is also working to digitize its supply chain, providing a platform that centralizes overall management from procurement to quality control and logistics, thereby optimizing the highly unused capacity of 1.5 million+ MSME fabrication vendors in India. With an extensive vendor network spread across India and an increasing presence in manufacturing hub in South East Asia like Vietnam, Fabrication Bazar maintains global quality standards while reducing delivery time and cost compared to traditional manufacturers.

Dwaipayan Dutta, Co-Founder & CEO, says, “The Pre-Series A round is a continued validation of our business model and approach to solving the challenges faced by the steel fabrication industry in India through an asset-light strategy. Our tech-enabled, asset-light manufacturing platform empowers thousands of MSME steel fabricators across India by enhancing their capacity utilization, delivering quality products to blue-chip MNC clients, and providing them access to capital. This round helps us to further enhance our tech offerings and build the team to take us to the next level. Given the size and potential of the steel fabrication industry in India and globally, we see significant growth opportunities ahead.”

Ankur Mittal, Partner Physis Capital, says, “As India accelerates towards its $5 trillion economic vision, the steel fabrication industry emerges as a key player in this transformative journey. Fabrication Bazar stands at the forefront of this revolution, reshaping how the industry fulfils its steel fabrication needs. By seamlessly integrating advanced tech with a rigorously vetted global network of fabricators, they're not just meeting demand—they're redefining efficiency, cost-effectiveness, and quality standards. Their 6x growth since FY21 is proof of their innovative approach and market fit. As IPV and Physis, we've been more than just investors; we've been partners since 2022, and we remain committed to guiding Fabrication Bazar as they expand their tech and extend their reach into GCC market.”

Fabrication Bazar has grown across its operations in the last 12 months including the vendor network and client base in India. The Company has also been onboarded as a qualified vendor by some of the largest companies in GCC, and is establishing a vendor base in Vietnam to cater demand from the SEA region. With the rising interest from customers both in the domestic and international markets, the order book has grown 3X in the last 12 months. The Company has been operationally EBITDA positive since inception.

India is the second largest steel producer and consumer in the world with total structural steel market estimated to exceed $20 Billion by 2030, with applications across sectors including Construction, Energy, FMCG, Transmission, Telecom, Buildings, Pharma, Petrochemical, Oil & Gas, Ethanol, Manufacturing etc. However, current steel fabrication market is highly concentrated with 90%+ fabricators being MSMEs who lack technology, financing and access to large clients leading to massive underutilization of fabrication capacity in India. As a result, most corporates are dependent on large traditional manufacturers with fixed capacities leading to long lead times and high costs. Fabrication Bazar, through its tech driven platform, bridges the gap between such clients and under-utilized fabricators all over India.

Riverstone Capital, a boutique Investment Bank based in India, acted as the exclusive financial advisor to Ben & Gaws for the transaction.

About Fabrication Bazar (Ben & Gaws):

Ben & Gaws Private Limited (Fabrication Bazar) was founded in 2016 by Dwaipayan Dutta as a small fabrication unit and pivoted to current tech-enabled asset-light model in 2021. Ankur Gupta joined as Co-Founder CTO in 2023. Fabrication Bazar acts as B2B one-stop asset light tech manufacturing platform for industrial steel fabricated products for its wide 400+ client base consisting of large MNCs across diversified sectors such as EPC, Manufacturing, FMCG, Pharmaceutical, Energy, Petrochemicals, Oil & Gas, Ethanol, Food & Beverage, Packaging, Metals, Manufacturing and more. Company has a catalogue approach offering own proprietary designs for 50+ SKUs. Dwaipayan has extensive experience in high value pre-fabricated steel products including SKU development and heavy engineering products globally across US, Turkey, GCC and APAC. Ankur brings in two decades of tech platform development experience across sectors like retail, automotive, FMCG etc. In 2022, the company raised $1 million in a seed round from Inflection Point Ventures (IPV).

Akasa Air in Talks to Raise ~ $125 Mn from Consortium that includes Premji Invest, Family Offices of Azim Premji and Ranjan Pai

Premji Invest, a venture capital firm led by Wipro's Azim Premji, and Claypond Capital, the family offices of Azim Premji again, and Manipal Group's Ranjan Pai, respectively, are in discussions to invest approximately $125 million for a significant minority stake in Akasa Air, said a report by Economic Times. 

This investment would value the airline at over $350 million. The funds will be used for expansion and payments for the airline, with new shares issued by diluting the shareholding of the Jhunjhunwala family and Vinay Dube, who together own 65% of Akasa Air.

The proposed investment is approximately $125 million (over ₹1,000 crore), aimed at supporting the airline’s expansion and financing pre-delivery aircraft payments.

Additionally, Akasa Air is reportedly seeking additional funding of up to $400 million to increase its value from $650 million to $1 billion.

Akasa Air is backed by Rakesh Jhunjhunwala, who co-founded the company and owns 40% of it. Additionally, the former President of IndiGo, Aditya Ghosh, holds a 10% stake in Akasa Air. The Jhunjhunwala family currently holds the largest stake in the airline, with 40%, and will remain the largest shareholder even after the new investment by Premji Invest and Claypond Capital.

Indian billionaire trader Rakesh Jhunjhunwala invested $35 million for a 40% stake in Akasa Air in July 2021. Aditya Ghosh, former President of IndiGo, owns 10% of the airline, while Vinay Dube holds 31%.

The low-cost airline commenced commercial operations on 7 August 2022, flying its first service from Mumbai to Ahmedabad using a Boeing 737 MAX 8 aircraft. Akasa Air has rapidly expanded its fleet, adding 24 aircraft since its launch in August 2021—a record pace for any new airline in India.

The airline initially ordered 76 Boeing 737 Max aircraft, followed by an additional 150 orders in January. Production delays and regulatory scrutiny have impacted these plans. In March, Akasa Air and Canada-based CAE Inc., signed a 15-year agreement to provide pilot training for Akasa Air's Boeing 737MAX aircraft in India.

With a delivery rate of one aircraft every 15 days, Akasa Air now boasts a fleet of 18 aircraft and has flown over 11 million passengers since its launch in August 2022.