A program for mass export development is launched by the India SME Forum. IndiaXports

India's first mass export development program, called "IndiaXports," was introduced during the Regional MSME Exports Summit by the non-profit India SME Forum, which serv es small and medium-sized enterprises."The launch of IndiaXports marks a transformative milestone in our pursuit to elevate this contribution and empower MSMEs." "The percentage of MSMEs' exports saw an upward trajectory, rising from 43.59% in FY22 to 45.03% in FY23," he continued. According to Vinod Kumar, President of the India SME Forum, "At the same time, the strong growth in the number of registered MSMEs, now totaling 3.16 crore, has contributed significantly to an impressive employment record of 15.5 crore as of December, 2023."At the Regional MSME Exports Summit, the India SME Forum (ISF), the country's non-governmental, nonprofit organization for small and medium-sized enterprises, announced the launch of IndiaXports, the country's first mass export development initiative. The program, which was unveiled in November 2023 by Santosh Sarangi, IAS, Director General of Foreign Trade, and Narayan Rane, Union Minister of MSME, will enable 200,000 first-time exporters to reach international markets. Through training, the initiative will assist MSME exporters in maximizing the export potential of their products. It will also help them with business fundamentals including identifying new export markets, comprehending phytosanitary regulations, acquiring global certifications, and fulfilling quality requirements specific to MSME goods.Vinod Kumar, President of the India SME Forum, stated during his speech at the summit that MSMEs presently account for roughly 50% of exports and one third of India's GDP. Launching IndiaXports is a revolutionary step in our quest to elevate this contribution and empower MSMEs. "The proportion of MSMEs' exports saw an upward trajectory, rising from 43.59 percent in FY22 to 45.03 percent in FY23," he continued. Parallel to this, there has been a notable increase in the number of MSMEs that have registered, reaching 3.16 crore as of December 2023, which has greatly boosted employment at 15.5 crore.Experts at the summit suggested assessing profitable export markets using factors like economic development, demographics, trade agreements, and policy changes in order to allay the worries of MSMEs. Giants in e-commerce like Amazon and Alibaba are important because they draw attention to the necessity of encouraging government regulations. According to Grégory Goba-Blé, MD of UPS - India, "Partnerships and collaborations are essential to any business." The goal of the collaboration between UPS, the India SME Forum, and the Ministry of MSME is to help MSMEs reach new heights of development and expand their export market potential. In order for MSMEs to overcome obstacles and substantially contribute to India's ambitions for global commerce, this concentrated effort aims to provide complete know-how to negotiate the needs of cross-border trade."One of UPS's top priorities is supporting women and advancing their contribution to trade," stated Christina Struller, vice president of corporate affairs at UPS. With the Women Exporters Program, we're dedicated to assisting the expansion of women-owned enterprises in collaboration with the Ministry of MSME and the India SME Forum. Our mission is to provide women-owned companies with the tools and information they need to expand internationally. The economy benefits when we assist women in achieving success.Two survey papers, "Navigating Global Markets: Unveiling the Potential of a $300 Billion Opportunity in Exports" and "Festive E-Commerce Trends Empowering MSME Trends in India," were also released during the conference. They highlighted the following important recommendations: Incentives to register on Udyam and data mapping of MSME exports using departments already in place are two examples of developing a mechanism to precisely track MSME exports. Increased exports via e-commerce, a 50% payment variation clause, an annual financial reconciliation process, no import duties on returns or rejects, and the establishment of a dedicated green channel with unique customs codes for quicker and more efficient customs clearance are just a few of the initiatives being considered. ● Establishing an all-in-one information portal channel for exporters with extensive resources, an easy-to-use interface, current information, and assistance and support at 3Prominent attendees at the summit included over 200 MSMEs, government representatives, industry experts, and Rahul Ahluwalia, Founding Director, Foundation for Economic Development; Manasvi Srivastava, Partner, International Trade & Indirect Taxes, KPMG; and Sunil Jha, Zonal Head Transaction Banking, ICICI Bank.  

Govind Kumar is appointed by upGrad to head the B2C segment for Working Professionals.

In an effort to expand its business in India, the dtech company upGrad named Govind Kumar as President of the Working Professionals (B2C) segment.According to a statement from upGrad, Kumar will take on a new role that will see him oversee sales, marketing, and content for the company's long-format university courses as well as grow its operational footprint across the nation.Kumar was the Vice President in charge of Hopscotch's India business for almost three years, specializing in kidswear. Kumar worked for Walmart-backed Flipkart for more than eight years before that.He will oversee marketing, sales, and content to fortifyGrad's long-format university-led course business is growing its national operational presence to improve P&L.Bengaluru, January 15, 2024: Govind Kumar has been appointed as President of Working Professionals (B2C) by upGrad, one of Asia's top integrated learning, skilling, and workforce development firms, as the company expands its activities in India.Formerly in charge of Hopscotch's operations in India, Govind spearheaded plans to turn the company into a D2C giant in the kid's fashion market. In order to grow UpGrad's business of university-led long-format courses and increase its operational footprint across the nation for a better P&L, he will oversee sales, marketing, and content. Along with his ten years of retail and consumer sector experience, Govind will lead upGrad's technological advancements to guarantee the best possible product-market fit. "The working professional (B2C) segment is upGrad's DNA, with which it was born," said Mayank Kumar, co-founder and MD of upGrad, welcoming Govind in his new role. "The increased YoY growth, both in terms of enrolment and market share dominance, demonstrates our commitment to delivering excellence." Now that we've had a great impact on a million lives, it's time to step up our efforts even more with an eye toward financial success. Since the segment is a symbol of trust for both current and potential students, Govind's track record of fostering category expansion, user growth, and product excellence will upGrad's brand leadership in the marketplace.Govind has previously held executive positions at a number of other well-known companies, including Flipkart, ITC Ltd., and Indian Terrain Clothing.India is one of the few nations in the world today with the highest percentage of young people and the greatest potential for knowledge contribution. I therefore see this position as a fantastic chance to have a deeper understanding of the ecosystem and make a direct effect. As a brand, upGrad has already established itself and dispelled a number of myths around upskilling. Govind Kumar continued, "Now is the time to get to know the brand personally and use my experience to contribute to its unmatched growth." Govind, an NIFT alumnus with extensive experience in e-commerce, will be stationed in upGrad's Bengaluru, IN office.  

Imran Khans party in Pakistan loses its cricket bat electoral symbol

The Imran Khan-led PTI Takes Away "Cricket Bat" Symbol When SC Says Internal Polls Are "Null and Void"The Pakistan Tehreek-e-Insaf (PTI) intra-party elections were declared unlawful by the Supreme Court of Pakistan late on Saturday night, according to PTI. It ended the contentious discussion over the selection of the famous electoral symbol by stripping the party of the "bat" as an election symbol. The verdict of a two-member bench of the Peshawar High Court (PHC) on Wednesday, which confirmed the PTI party's elections and reinstated the cricket bat as its electoral symbol, was challenged by the Election Commission of Pakistan (ECP).A three-judge panel made up of Chief Justice Qazi Faez Isa, Justice Muhammad Ali Mazhar, and Justice Musarrat Hilali heard the ECP's petition and then reserved their decision, which was made public late on Saturday night.In a ruling that was read aloud by the chief justice, the highest court declared that it would "set aside the PHC judgement and restore the ECP judgement," which had declared the PTI's intra-party elections null and void and removed the party's 'bat' insignia. The controversy around the election symbol started on December 22, when the ECP rejected surveys conducted within the party, depriving the party of its electoral emblem for the February 8 election.The Peshawar High Court, which received a petition from the party, suspended the ECP ruling on December 26 with an interim order.On January 3, the high court overturned the order when the election administration challenged the verdict. The PHC further declared that a two-judge bench will hear arguments over the PTI bat emblem. The ECP challenged the tribunal's ruling before the Supreme Court, but the two-member panel decided to reinstate the "bat" as a PTI insignia.The PTI has traditionally used a bat as its insignia, and it is said that stripping the party of this iconic image would require its candidates to run on different signs, which would confuse party members in rural areas on election day.In addition, the PTI would not be able to claim reserved seats in the national and provincial legislatures, which are split into parties according to the proportion of seats won in elections, if they did not have a single emblem. Barrister Khan has expressed concern that the PTI would suffer a significant loss if these seats in the national and provincial assemblies were lost in the absence of a party insignia. PTI's Ali Zafar responded to the Supreme Court's ruling by saying that, although history will decide the outcome, the PTI candidate would have to run without a common symbol right away."The symbol has been removed by the court, but the party remains a registered entity." All of our candidates would run as independents in accordance with our policy, he was cited by PTI in its story. PTI chairman Barrister Gohar Khan claimed that the political rights of the PTI and its supporters had been violated and expressed shock at the decision.   

Nagaland is the second stop of Rahul Gandhis Bharat Jodo Nyay Yatra, after Manipur.

Senior Congressmen Rahul Gandhi and others left for Manipur in anticipation of the party's "Bharat Jodo Nyay Yatra."As the party prepares to launch its 'Bharat Jodo Nyay Yatra,' former Congress president Rahul Gandhi, accompanied by other prominent figures including Salman Khurshid, Digvijaya Singh, and Ashok Gehlot, departed for Manipur on Sunday. The yatra would begin at a private location in the Thoubal district and travel through 100 Lok Sabha seats spread over 15 states. The district of Thoubal in Manipur's Khongjom is gearing up for the Congress march.News agency ANI earlier claimed that a special IndiGo flight meant to transport Congress officials to Imphal for the Bharat Jodo Nyay Yatra was delayed at the Delhi Airport.In the meantime, ahead of the Yatra, numerous hoardings and enormous cutouts of Rahul Gandhi were placed on the streets. Gandhi's Yatra will begin today in Thoubal and travel approximately 6,700 kilometers in 67 days, passing through 110 districts.The images from Thoubal, where the preparations were well underway, were released by ANI. Congressman Rahul Gandhi honored World War II soldiers at the Kohima War Cemetery in Nagaland on Tuesday as the third day of his Bharat Jodo Nyay Yatra began in Kohima. The 53-year-old left Thoubal, Manipur, to begin the Yatra.Leader of the Hamro Party Ajoy Edwards, who won the local body elections in Darjeeling in 2023, departed for Imphal on Saturday, January 13, in order to accompany Rahul Gandhi on his Bharat Jodo Nyay Yatra, which is scheduled to begin on Sunday, January 14. The Nyay Yatra intends to travel more than 6,000 kilometers in total and is anticipated to arrive in Mumbai by the middle of March.A general overview of the new political alignment that is developing in the hills may be found in Edwards' involvement in the rally. Planning overseas with friends in the INDIA (Indian National Developmental Inclusive Alliance) grouping suggests that the Indian National Congress is trying to pursue a cooperative strategy. One goal would undoubtedly be to retain the Darjeeling parliamentary constituency, where the Congress formerly held a majority."A political party is organizing the yatra, but anyone in need of justice is welcome to participate in the march. According to Edwards, "We are walking for the Gorkhas who need justice," The Telegraph reported.In the North Bengal tea belt, where it had a long-standing strong base along with its trade union front, INTUC, the Congress has been trying to win back support there. Party insiders claim that after Edwards' December meeting with Gandhi, there were signs that the Hamro Party was inclined toward working with the Congress and could perhaps join the INDIA group. Gandhi will traverse Manipur to Assam on his yatra, and four days later, he would pass into Bengal from Baxirhat, which is located on the Assam–Bengal interstate boundary.According to The Telegraph, which cited party sources, the Nyay Yatra is scheduled to pass through Cooch Behar on January 26, Republic Day, when it arrives in Bengal.  

DroneAcharya secures tender from Indian Army

In order to provide advanced drone pilot instruction and GIS (geographic information system) training for twenty officers from the Northern Command Pre-Induction instruction School at Bhalra, Jammu and Kashmir, DroneAcharya Aerial Innovations Limited has obtained a Defence Tender worth Rs 11.8 lakh.The importance of drones in defense has grown more apparent in the wake of recent international events, such as the conflict between Russia and Ukraine. According to a statement, India is actively investing in the development of drone capabilities in recognition of this trend, as seen by the increase in national bids for drone training and procurement.DroneAcharya Wins Indian Army Tender worth INR 11,80,000.00 for Advanced Drone Pilot and GIS Training for Northern Command Officers in Jammu and Kashmir.An important defense contract for INR 11,80,000.00 is secured by DroneAcharya Aerial Innovations Limited to educate 20 officers in GIS and advanced drone piloting at the Northern Command Pre-Induction Training School in Bhalra, Jammu & Kashmir. This significant event highlights how drones are becoming more and more integrated into the Indian Defense System, highlighting the necessity of expert training. Modules including Night Flying, Challenging Maneuvers, Emergency Response, Data Processing, and Image Interpretation are included in the extensive 14-day on-site curriculum. DroneAcharya is the only Private DGCA Certified Drone Pilot Training Organization in India. It has trained more than 200 drone pilots for Defense companies around the country and completed more than 580 trainings on Digital Sky.Twenty officers would receive advanced drone pilot and Geographic Information System (GIS) training at the Northern Command Pre-Induction Training School in Bhalra, Jammu and Kashmir, as per the terms of the contract. This success not only shows how skilled DroneAcharya is, but also how important professional drone training is becoming to the Indian Defense System. The 14-day onsite curriculum offered by DroneAcharya includes a variety of modules covering key aspects of drone operations. The training covers specialized subjects like image interpretation, emergency response, night flying, challenging maneuvers, and data processing. This methodical and comprehensive approach emphasizes both operational and analytical skills to guarantee that the participating officers receivEmergency Response training, which guarantees a prompt and efficient response to unforeseen events, significantly boosts the efficacy of Defense drone operations. Being the only Private Directorate General of Civil Aviation (DGCA) Certified Drone Pilot Training Organization in India, DroneAcharya is a pioneer in the area. The company's track record of surpassing 580 trainings on Digital Sky and offering over 200 drone pilot trainings for Defense organizations nationwide demonstrates its dedication to excellence and experience in drone training. The winning of this defense contract represents a significant step forward in the integration of drones into the Indian armed forces. Professional training is becoming increasingly important as drone skills become more and more in demand.  

The King Farmers Cohort initiative is launched by BioPrime AgriSolutions.

With the introduction of its "King Farmers Cohort" program, BioPrime AgriSolutions, a top biotechnology business that specializes in creating innovative agri-biologicals, is transforming farmer empowerment.By equipping farmers with specialized information and skills specific to their crops and areas, this project helps them thrive in the dynamic agricultural landscape. In order to guarantee that they receive thorough business and technical assistance throughout the full crop cycle, cohort participants will benefit from a combination of specialized technical training sessions, mentorships, one-on-one assistance, and group farm visits.Beyond only maximizing output, the King Farmers Cohort promotes a holistic approach to farming that prioritizes important areas such as increasing profitability, managing soil health, and adopting climate-resilient methods.The "King Farmers Cohort" program was launched by famous biotechnology company BioPrime AgriSolutions, which specializes in advanced agri-biologicals. The program's goal is to give farmers access to crop- and region-specific knowledge so they may prosper in the ever-changing agricultural landscape. The "King Farmers Cohort" program, according to BioPrime AgriSolutions, stresses a holistic approach to agriculture, concentrating on crucial elements including soil health management, climate-resilient practices, and profitability enhancement. In order to address the unique needs of farmers and provide them with the tools they need to adapt to changing climates and enhance soil health, which is crucial for sustainable success, the company intends to hold four specialized technical training sessions with eminent researchers and innovators as the instructors.Beyond the classroom, the curriculum includes field trips and harvest days in certain farmer fields to give participants real-world experience, motivation, and networking opportunities. This method promotes peer-to-peer learning, allowing participants to share best practices derived from practical experiences and work together to address shared difficulties. BioPrime AgriSolutions promotes a helpful environment that is conducive to problem-solving by highlighting the need of learning from peers with a variety of skills.In order to honor exceptional accomplishments in productivity, financial gain, and environmental responsibility, BioPrime AgriSolutions intends to host a farewell celebration for each cohort. By recognizing their accomplishments and encouraging them to reach their full potential, the company hopes to inspire farmers.The program's emphasis on sustainability and farmer empowerment was emphasized by Dr. Renuka Diwan, Co-Founder & CEO of BioPrime AgriSolutions, who said, "Empowering farmers isn't just about higher yields; it's also about equipping them to be sustainable." In this evolving environment, the King Farmers Cohort serves as a catalyst by combining resources and offering assistance to farmers in the path towards a sustainable and profitable future. With the "King Farmers Cohort" program, BioPrime AgriSolutions has set high goals: by 2024, the company wants to create 20 cohorts spanning 10 crops, 10 regions, and 3 states. Through this project, the corporation hopes to affect 10,000 acres of land and more than 1,000 farmers. Furthermore, BioPrime AgriSolutions is inviting additional businesses and academic institutions to collaborate with leading scientists in order to support the program's success.In Maharashtra, the first cohort was introduced with an emphasis on onions and included 40 farmers who farmed more than 1000 acres. To increase the program's impact and reach, future cohorts will concentrate on a variety of crops, including potatoes, pomegranates, chilies, tomatoes, soybeans, and grapes, among others.  

The Udhyam Learning Foundation honors one hundred young businesspeople.

Sarvo Udhyam’ in conjunction with Udhyam Learning Foundation inaugurated its National Alumni Community on January 11, on the eve of National Youth Day to commemorate the spirit and achievements of the 100 young entrepreneurs who graduated from Udhyam’s Youth Business Projects.Sarvo Udhyam’ strives to provide a structured forum for peer sharing, knowledge exchange, mentorship, and collaborative growth opportunities.January 12, 2024, New Delhi: On National Youth Day, "Sarvo Udhyam" and the Udhyam Learning Foundation celebrated by launching the National Alumni Community at The Grand Orion in New Delhi. The occasion celebrated the achievements of 100 young entrepreneurs who completed Udhyam's Youth Business Projects, together producing over INR 4 crores in business within just over two years. Seeing the enormous potential of India's youth—more than 600 million people under the age of 25—the event included Udhyam Youth Business Projects Initiative graduates. During a panel discussion, successful startup founders such as Sairee Chahal, the founder of Sheros, and Mr. Brijesh Aggarwal, co-founder and director of IndiaMART, presented their perspectives and talked about the difficulties experienced by aspiring business owners."We are happy to cultivate a dynamic community wherein the flourishing of the entrepreneurial spirit of the youth takes center stage," stated Mekin Maheshwari, CEO and Founder of Udhyam Learning Foundation. Our goal is to empower young people by giving them the information and skills necessary to succeed in entrepreneurship, as well as by creating an atmosphere that will enable them to easily apply what they have learned to take meaningful action. "Sarvo-Udhyam" is a community where the entrepreneurial mindset is realized rather than merely an alumni chapter.Prominent entrepreneurs promised these new companies their quick support during the event. Among the initiatives were free India Mart subscriptions, accounting software, and legal and compliance advice from Mr. Brijesh Aggarwal. Rajeev Talreja also promised to provide the young group a complimentary three-day business course. Across a wide range of industries, including software services, apparel, food, electronics, marketing, cosmetics, education, and the arts, these entrepreneurs have built profitable companies that have employed several people and brought in over INR 4 crores in revenue.  

Tomorrow, PM Modi will open the 27th National Youth Festival in Nashik, Maharashtra.

Tomorrow, on the anniversary of Swami Vivekananda's birth, Prime Minister Narendra of Maharashtra will open the 27th National Youth Festival in Nashik to commemorate National Youth Day.  The four-day event has "Viksit Bharat@2047" as its subject.The "Atal Bihari Vajpayee Sewri - Nhava Sheva Atal Setu" will also be inaugurated later by the prime minister. Mr. Modi had already placed the bridge's foundation stone in December 2016. The 21.8-kilometer, six-lane bridge was constructed at an estimated cost of approximately 17,840 crore rupees. Its purpose is to facilitate faster connection between Mumbai and Pune, Goa, and South India. It is noteworthy for being India's longest sea bridge.In closing, Mr. Modi will speak at a public event in Navi Mumbai, where he will dedicate, inaugurate, and lay the cornerstone for several development projects totaling over 12,700 crore rupees.  Phase 2 of the Uran-Kharkopar railway line, the opening of the first phase of the Surya Regional Bulk Drinking Water project, the construction of the underground road tunnel connecting Eastern Freeway's Orange Gate to Marine Drive, and the opening of the new suburban station "Digha Gaon" on the Thane-Vashi/Panvel Trans-harbour line are a few of these.Additionally, the Prime Minister will open "Bharat Ratnam," a Mega Common Facilitation Center at the Santacruz Electronic Export Processing Zone-Special Economic Zone (SEEPZ SEZ) for the Gem and Jewellery industry. Namo Mahila Shashaktikaran Abhiyaan, which intends to empower women in the State by offering skill development training and exposure to entrepreneurial development, would be introduced by the prime minister.On January 12, Prime Minister Shri Narendra Modi will speak to the nation's youth during the 27th National Youth Festival in Nashik, Maharashtra.  

ETtech Deals Digest: This week, startup funding dropped 70% to $102 million.

In the second week of 2024, investments in startups fell by around 70% year over year to a total of $102.1 million across 26 different agreements, indicating that the funding crunch was not going away. According to data from Tracxn, companies in seed, early, and late stages raised around $288 million between January 6 and January 12, 2023.At roughly $49 million, or 48% of the total deal value, the early stage saw the largest amount of capital raised throughout the week. $35.2 million in late-stage finance, representing 35% of the total, came next.Funding increased sequentially in the most recent week, rising more than three times in volume and nearly three times in value terms. These cutting-edge businesses closed eight deals for $35.8 million last week.The latest numbers come after a busy spell of dealmaking in December, which came as a twist at the end of 2023 – one of the weakest years for venture capital activity in the country.The financial shortage persisted as evidenced by the fact that, in the second week of 2024, investments in startups plummeted by over 70% year over year to a total of $102.1 million across 26 separate agreements. Tracxn data indicates that between January 6 and January 12, 2023, companies in seed, early, and late stages raised approximately $288 million.In the second week of 2024, investments in startups fell by around 70% year over year to a total of $102.1 million across 26 different agreements, indicating that the funding crunch was not going away. According to data from Tracxn, companies in seed, early, and late stages raised over $288 million between January 6 and January 12, 2023.  

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Innovation Week is organized by DPIIT to commemorate Startup Indias eight years.

January 12, New Delhi [India], (ANI): This week's "Startup India Innovation Week 2024," which is commemorating eight years of the Startup India initiative, kicked out with an Ask Me Anything (AMA) session including ecosystem enablers.To honor India's entrepreneurial spirit, eight virtual Ask Me Anything (AMA) live sessions with pertinent stakeholders are scheduled for January 10–17.During the Ask Me Anything session, which was centered around "Opportunities for Budding Startups through Incubators," entrepreneurs and startups gained knowledge about the several seed funding sources that are accessible. Important advice on the various phases of the startup process, from the first spark of an idea to ultimately going public, was also given throughout the discussion. The event was broadcast live on Startup India's social media platforms.The topic of discussion in the inaugural MAARG Mentorship Series session for aspiring business owners was "From Idea to Execution: Building a Solid Business Plan." Through the use of case studies that portrayed difficult situations, the facilitators engaged the participants and provided insights into the process of turning entrepreneurial ideas into a well-structured company plan. The MY Bharat portal for prospective businesses also aired the discussion.Additionally, Startup India's premier accelerator program, "Startup Shala," was introduced to provide comprehensive support to entrepreneurs during their scale-up phase. The initiative is a three-month accelerator program designed to give early-stage entrepreneurs access to the resources, networks, capital, and advice they need to grow. Every program cohort will concentrate on a different industry, with the clean technology industry being the first. On January 10, 2024, the Startup India portal opened for applicants.  

By the end of 2024, India will have its first memory chip made in the country.

At the Vibrant Gujarat Global Summit 2024, South Korea's Simmtech announced an investment of INR 1,250 Cr in Gujarat. Union Minister of Information Technology and Electronics Ashwini Vaishnaw stated that Gujarat will provide India with its first memory chip produced domestically by the end of the current year.A Memorandum of Understanding (MoU) was signed by Simmtech, a company that makes high-layer printed circuit boards for semiconductors, and the Gujarat government, proposing to establish a plant in the state to strengthen the semiconductor ecosystem.In accordance with the terms of the MoU, Simmtech would invest around INR 1,250 Cr to establish operations and assist Micron's semiconductor plant in Gujarat. According to Vaishnaw, the plant's setup will begin in March.It's important to remember that semiconductor giant Micron stated last year that it would establish an assembly and testing facility in Sanand, Gujarat. According to a report from Mint, Simmtech CEO Jeffrey Chun stated that the business is prepared to increase its investments in India. It anticipates more than 1,000 direct and indirect job opportunities from its Gujarat plant.In September of last year, Simmtech's plan to establish a unit in Sanand, near Micron's facility, was approved. Vaishnaw stated at the summit, "The Simmtech plant will be located close to Micron's semiconductor plant, which is currently being established at Gujarat Industrial Development Corporation's (GIDC) industrial estate in Sanand. " In the meantime, Micron and NamTech signed an agreement to develop talent for Micron's Indian semiconductor business. More than 200 workers have already been hired by the US company for its plant there.The minister continued, "I would like Micron to work with IIT Gandhinagar to establish a center of excellence, which will help in building a robust talent pipeline." This development coincides with a period in which the Indian government is making every effort to get semiconductor businesses to establish production facilities in India. The Center has implemented several initiatives to foster the growth of the semiconductor industry in the nation, including the design-linked incentive program and a $10 billion commitment to the India Semiconductor Mission (ISM).A group of experts has also suggested that the nation establish a $8 billion worldwide standard India Semiconductor Research Center. It was predicted that by the end of 2023, there would be 50 Indian startups operating in the semiconductor industry. The Center also considered assisting new businesses in forming professional partnerships with multinational semiconductor manufacturers.  

According to Sitharaman, Indias GDP will reach $30 trillion by 2047, and PHD calls it the most resilient.

According to Finance Minister Nirmala Sitharaman, India's GDP would reach $30 trillion by 2047. She added that 919 billion US dollars in foreign direct investment had been received by India in 23 years, up until 2023, and that the nation's economy will reach five trillion dollars by 2028. Of these, nine years' worth of investments accounted for sixty-five percent. Sitharaman also acknowledged Gujarat's role as the nation's growth engine, contributing more than 8% of the GDP. Sitharaman was speaking at the Gandhinagar Vibrant Gujarat Global Summit. The PM Gatishakti initiative is becoming recognized as a global standard for seamless and integrated multi-modal connectivity, according to a statement made by Commerce and Industry Minister Piyush Goyal on the same day.At the Vibrant Gujarat Global Summit, India and the UAE exchanged four memorandums of understanding, according to Foreign Secretary Vinay Mohan Kwatra. These memorandums of understanding concern investment collaboration in food parks, renewable energy, innovative healthcare, and logistics cooperation. Meanwhile, among the top 10 most powerful economies in 2024 and 2025, the Indian economy has been deemed by an industry authority to be the most robust. In a report following its study, the PHD Chamber of Commerce and Industry commended the developments in the Indian economy.Key macroeconomic data, such as GDP growth, export growth, gross national savings, total investments, and the debt-to-GDP ratio, served as the foundation for the industry body's study. According to a press release from Sanjeev Agrawal, President of the PHD Chamber of Commerce and Industry, the economy is predicted to surpass USD 4 trillion in 2024 and then move to the next orbit in 2025 due to consistent GDP growth rates exceeding 7% over the previous two years and a projected continuation of this trend in the current year as well. According to Agrawal, India is making great progress toward achieving its ambitious growth trajectory. GDP growth is expected to range between 7.4 and 7.5% for the current fiscal year, which ends in March 2024.According to the National Statistics Office's January 5 report, the Indian economy is predicted to expand by 7.3% in the current fiscal year 2023–24, continuing to be the fastest-growing major economy. India's GDP expanded by 8.7% in 2021–22 and 7.2% in 2022–23. The Reserve Bank of India (RBI) increased its growth projection last month by 50 basis points to 7% from an earlier estimate of 6.5%, and the statistical office released its first advance estimates of GDP. Despite the challenges facing the world economy, India's economy is still strong, according to the industry association PHDCCI. "World value networks are being disrupted, inflationary pressures are being generated, and geopolitical conflicts are changing the world. International institutions have acknowledged India's growing geopolitical significance, according to Sanjeev Agrawal. Citing analysts, PHDCCI stated that markets are anticipated to stayAccording to the PHDCCI research, the average inflation trend in 2024 is anticipated to be approximately 4.5%. The Reserve Bank of India is predicted to decrease the repo rate by 100 basis points to reach the level of repo rate at 5.5% by the end 2024. At its December meeting, the RBI Monetary Policy Committee unanimously agreed to retain the current status quo at the 6.5% policy repo rate, marking the fifth consecutive meeting in which this decision was made.   

The Sports Ministry has approved Kishore Jena and Mirabai Chanus requests for international training for the Olympics in Paris.

The governing board has also approved plans for wrestlers Ronit Sharma (Greco-Roman), Ashu (Freestyle), and Deepak Punia (Freestyle) to train overseas.Olympic silver medallists Mirabai Chanu from the Tokyo Olympics and Kishore Jena from the Asian Games will train overseas in preparation for the 2024 Paris Olympics, the Ministry of Youth Affairs and Sports of India (MYAS) announced on Thursday.While Chanu is traveling to St. Louis, Missouri, for training, Jena will be spending 78 days in training on the Gold Coast of Australia. Dr. Aron Horschig will be her regular practitioner, and chief coach Vijay Sharma will go with her."Jena, his coach, and physiotherapist will have their airfare, boarding and lodging expenses covered by MYAS under its Target Olympic Podium Scheme (TOPS), along with the cost of using training and massage facilities, medical and local travel expenses, and medical insurance costs, among other expenditures," the Ministry stated in a release.NEW DELHI: The Sports Ministry on Thursday approved Asian Games silver medallist javelin thrower Kishore Kumar Jena's proposal to train in Australia, while also funding Tokyo Olympic medallist Mirabai Chanu's month-long rehab training in the US ahead of the Paris Games.  

Social network Amealio obtains undisclosed pre-seed funding from Sucseed

SucSEED Indovation Fund and ISF Angels, lead by JA Chowdhary and other angels, led an undisclosed pre-seed fundraising round for Amealio, a community-driven platform for food and entertainment."...Amealio, powered by AI, Partnership, and ONDC, cultivates new friendships, uncovers experiences and hidden gems, and produces lifelong memories." He highlights the platform's importance in reviving neighborhood connections and bringing local communities back to life. This is how Amealio is filling in a previously existing gap,” Shaker Dixit, Founder and CEO of Amealio, said. “We are excited to invest in Amealio as it has a unique combination of corporate veterans with first-hand experience in running/owning multiple restaurants across India and the US, and the people who are deeply passionate about food and customer satisfaction on one platform…,” Dhiraj Kumar Sinha, General Partner of SucSEED Indovation Fund, added."We are ecstatic to have as partners such knowledgeable investors in the consumer area. "We are thrilled about the opportunities that lie ahead, and their support speaks volumes about the potential that is there in this space," Salty co-founder Kanishka Garg said.Of the 2,000 candidates anticipated, 100 will be selected for the IPV Ideaschool Batch 1 program at first, and 40 of them will go on to actively participate in the accelerator program's discussions. The startups will be assessed in numerous rounds using various criteria.  

Despite the fervor surrounding AI, US startup funding is declining.

According to PitchBook data released on Thursday, U.S. investors invested $170.6 billion in companies in 2023—a reduction of nearly 30% from the $242.2 billion recorded in 2022—as the venture capital funding sector continues to struggle with value resets despite rising interest rates.According to the most recent statistics, which comes from a year when investors were captivated by massive AI transactions, U.S. venture capital has been steadily declining since 2021, when entrepreneurs raised $348 billion.Large language model training in AI labs, a costly endeavor considering the amount of processing power needed, was one of the notable highlights of an otherwise cautious investment year. According to PitchBook data, 10% of the entire deal value in 2023 came from the large investments made in OpenAI and Anthropic, the leaders in artificial intellige. The percentage of startups that raised capital in 2023 at a lower value than in their previous rounds increased from 8% in 2022 to 20% in 2023, indicating a widespread reset of late-stage company valuations."Names related to AI are trading higher. Certain software brands are selling for more money. Food and grocery delivery services, as well as subpar consumer concepts, have all seen a 95% decrease in value since their last funding round, according to Ken Smythe, the founder of Next Round Capital, a private market investment firm. As they run out of cash, many of the 723 so-called unicorn companies—which were valued at over $1 billion in their most recent round of funding—are anticipated to try to raise money again this year.        

Shah Rukh Khan and UltraTech Cement launch a new campaign.

Star of Bollywood Shah Rukh Khan has teamed up with UltraTech Cement for a brand-new campaign. The campaign tells individual people's stories about their goals and aspirations as well as how infrastructure is facilitating their advancement.The company claimed that the "Banega Toh Badhega India" campaign embodies the idea that infrastructure is supporting India's aspirations. "Our new campaign is an expression of our guiding principles, which provide us with daily inspiration. The company stated, "We at UltraTech see ourselves as enablers of people's progress and nation's development.""Shah Rukh Khan, also known as SRK, is a brilliant representation of India's ascent and ambitions. His path has been one of raising the bar and resetting boundaries. Thus, we think he is a good fit to embody UltraTech's philosophy," the business continued.Khan is featured in the Build and It Will Grow (Banega Toh Badhega) advertising campaign by UltraTech Cement, which debuted on January 15, 2023. The initial commercial features the Aſoka star alongside laborers, students, and the Indian Army engaging in various tasks made possible by infrastructure.Shah Rukh Khan (SRK) is the newest Bollywood celebrity to support cement advertising in India. Khan is featured in the Build and It Will Grow (Banega Toh Badhega) advertising campaign by UltraTech Cement, which debuted on January 15, 2023. In the first commercial, the Indian Army, laborers, and the Aōoka star are depicted engaging in various activities made possible by infrastructure.According to UltraTech Cement, "SRK is a shining example of India's rise and aspirations." His path has been one of raising the bar and setting new boundaries for himself. For this reason, we think he is a good fit to embody UltraTech's philosophy.  

Startup India Innovation Week 2024 will take place from January 10–18, 2024, thanks to DPIIT.

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, is organizing the Startup India Innovation Week 2024 from January 10 to January 18, 2024, to celebrate the Indian Startup Ecosystem and the National Startup Day (16th January 2024). The purpose of this event is to bring together the nation's startups, entrepreneurs, investors, policymakers, and other stakeholders. The Tenth Vibrant Gujarat Global Summit in Gandhinagar, Gujarat, on January 11, 2024, will host the Startup Seminar, "Startups Unlocking Infinite Potential," with Secretary, DPIIT, Shri Rajesh Kumar Singh, giving the inaugural address. The goal of the seminar is to provide a global forum for business networking, knowledge sharing, and inclusive socio-economic development.The announcement and awarding ceremony for the National Startup Awards 2023 and the fourth iteration of the States' Startup Ranking Framework—two of Startup India's flagship projects—will be held by DPIIT on January 16, 2024, in conjunction with National Startup Day celebrations. Incubators are also organizing physical events throughout the nation to commemorate the breakthroughs that Indian entrepreneurs are creating in various districts. These gatherings include, among other things, panel discussions, stakeholder round tables, mentorship sessions, and workshops specifically designed for startups. In order to increase the ecosystem's capacity, eight virtual Ask Me Anything (AMA) live sessions are scheduled to take place from January 10 to January 17, 2024, with startup ecosystem enablers such as incubators and accelerators, investors, mentors, unicorns, corporates, startups, academics, and the government.Additionally, it is intended to hold five full-day mentorship sessions on "How to Start Up" with the goal of enhancing the capacity of aspiring and student entrepreneurs in areas including comprehending company structures, incorporating an entity, and creating a business plan. On January 16, 2016, Prime Minister Shri Narendra Modi announced the commencement of the Startup India program, which aims to create a robust environment for fostering innovation, accelerating companies, and promoting investments in the nation's startup sector. The Prime Minister of 2022 proclaimed January 16th as National Startup Day in an effort to highlight and encourage acknowledgment of businesses that contribute to socioeconomic progress, nation-building, and self-reliance. On January 16, 2024, Startup India would have been launched for eight amazing years. From roughlyThe National Startup Awards are an effort to identify and honor exceptional entrepreneurs and ecosystem builders who are creating scalable businesses, novel products or solutions, and a high potential for creating jobs or wealth creation while exhibiting quantifiable social impact. The States’ Startup Ranking is a recurring capacity-building initiative created and disseminated by DPIIT, which assesses States and UTs on their endeavors to establish an ecosystem supportive of startup expansion. The main goals of the ranking process are to help States and UTs find, adopt, and replace best practices; to emphasize the role that States and UTs play in policy intervention to support the startup ecosystem and increase state competitiveness. Additionally, DPIIT and the Department of Youth Affairs are working together to advance Mera Yuva Bharat (MY Bharat).  

Potential recovery anticipated in 2019; funding pace to stay sluggish

For India's startup ecosystem, which is in third place internationally, 2023 was another barren year. Global venture financing reached a low point in 2023 as a result of variables including inflation, growing interest rates, geopolitical unrest, and recessionary fears.In terms of value, financing for Indian startups decreased by 65.8% between January and November of 2023, according to a research published by GlobalData. In the first eleven months of this year, they have raised $6.9 billion through 1,013 venture capital (VC) fundraising deals. In the same time frame previous year, the companies had raised $20.2 billion.Experts contend that despite these difficulties, the Indian startup scene is still strong because of government programs and a renewed emphasis on long-term, sustainable success.The Startup India Seed Fund Scheme, Fund of Funds for Startups, and Credit Guarantee Scheme for Startups are just a few of the measures the government has launched to assist new businesses. "We still have hope for the future. The startup scene is positioned for a better and more resilient future because to a combination of supportive government policies, India's strong and developing economy, and ongoing infrastructural projects, according to Aniruddha Sen, co-founder of Kenko Health, who spoke with Livemint.Sen went on, "It is anticipated that the governments' steadfast dedication to assisting startups via financial initiatives, tax breaks, and regulatory changes would foster an atmosphere that encourages entrepreneurship. The startup funding landscape may be greatly impacted by such encouraging actions. The unwavering quest for innovation and technical breakthroughs continues to be a motivating factor. Due to their potential to completely change industries, startups at the vanguard of transformational technologies—like artificial intelligence (AI), biotechnology, and clean energy—are expected to draw significant capital."