Author: Bhakti Narayanan

A recent report by Tracxn highlights significant developments in the Indian fintech sector during the third quarter of the calendar year. Fintech companies in India managed to secure a substantial funding amount of US$436 million, marking a remarkable 68% surge from the US$259 million raised in the preceding quarter. However, a year-on-year comparison reveals a contrasting picture, with funding declining by 55% from the US$967 million raised in Q3CY22. This decline in overall funding is partially offset by a notable increase in late-stage funding rounds. Late-stage rounds witnessed an impressive growth of 141%, accumulating US$326 million in Q3CY23, up from…

The Prime Minister Street Vendor’s AatmaNirbhar Nidhi (PM SVANidhi) scheme, launched in July 2020, has significantly boosted consumption in India’s urban areas. Over 6.6 million street vendors have benefited from the scheme, with more than 40 percent being women. The microcredit facility of Rs 10,000 has served as essential working capital, enabling vendors to expand their businesses and increase their income, while also promoting financial inclusion and digitization. Although many vendors initially faced challenges in accessing loans due to document requirements, the scheme has been a game changer for millions. While Rs 10,000 may seem modest in major cities, it…

The Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, an initiative of the Ministry of Housing and Urban Affairs (MoHUA), has achieved a remarkable milestone by extending assistance to more than 5 million street vendors nationwide. According to the central government, close to 5 million street vendors have availed loans amounting to INR 8600 crore (USD 1.03 billion) under a micro-credit scheme launched in 2020 to support them in coping with the challenges posed by the COVID-19 pandemic. To put this figure in perspective, this translates to more than USD 1 billion. The PM SVANidhi scheme aims to provide…

The Government of India officially established the National Turmeric Board on October 4, 2023, with a primary focus on the advancement and enhancement of the turmeric industry within the country. The National Turmeric Board will play a leading role in all aspects related to turmeric, intensify its efforts, and promote stronger collaboration with organizations like the Spices Board and various governmental bodies to foster growth and development in the turmeric sector. One of the key objectives of the Board is to capitalize on the significant potential and growing interest in the health and wellness benefits associated with turmeric. This includes…

India’s entry into 5G technology has significantly boosted mobile download speeds, propelling the nation to the 47th position in the Speedtest Global Index, ahead of countries like Japan, the UK, and Brazil, according to Ookla. India’s speed performance has increased 3.59 times since the introduction of 5G, marking it as a remarkable advancement. In this global ranking, India surpassed not only its neighboring countries but also some G20 nations, such as Mexico, Turkey, the UK, Japan, Brazil, and South Africa. The introduction of 5G technology by operators like Reliance Jio and Bharti Airtel has led to a substantial increase in…

From April to September 2023, a total freight loading of 758.20 million tonnes (MT) was achieved, marking a significant increase of approximately 21.52 MT compared to the previous year when it was 736.68 MT. This boost in freight loading also resulted in higher revenue for the Railways, with earnings reaching Rs. 81,697 crore (US$ 9.81 billion) in contrast to the previous year’s Rs. 78,991 crore (US$ 9.49 billion), indicating a rise of around Rs. 2,706 crore (US$ 235.23 million) during the same period compared to the previous year. In September 2023, the Railways witnessed an originating freight loading of 123.53…

During the 118th Annual Session of the PHD Chamber of Commerce and Industry (PHDCCI), Union Home Minister and Minister of Cooperation, Mr. Amit Shah, highlighted India’s aspirations for the future. He mentioned that Prime Minister Narendra Modi has set the goal for India to become the top-ranked country in all sectors by the time the nation celebrates its 100 years of independence in 2047. He referred to this period as the “Amrit Kaal” or the era of unprecedented growth. The theme of this year’s event is “Emerging India: This Is the Right Time, the Golden Era of Remarkable Progress.” Mr.…

Sarath Ranganathan, a distinguished Indian-origin professor specializing in respiratory medicine and renowned as a clinician scientist on the international stage, has assumed the prestigious position of the head of the Melbourne Medical School at the University of Melbourne. Reflecting on this appointment, Professor Jane Gunn, the Dean of the Faculty of Medicine, Dentistry, and Health Sciences at the University of Melbourne, expressed her delight in welcoming Professor Ranganathan to this significant role. She highlighted his previous leadership roles within the faculty, which encompassed holding the Stevenson chair in Paediatrics and serving as the head of the Department of Paediatrics, a…

Union Minister Piyush Goyal chaired the 7th meeting of the Mission Steering Group for the National Technical Textiles Mission. During this meeting, 18 R&D projects valued at Rs. 46.74 crore (US$ 5.62 million) received approval. These projects span various categories, including Geotech, Protech, Indutech, Sustainable Textiles, Sportech, Smart E-Textiles, and Meditech. Goyal emphasized the need for proactive industry engagement to bolster India’s indigenous development of technical textiles. The minister also discussed the status of various components of the National Technical Textiles Mission, including the review of sanctioned R&D products, R&D projects in Mission mode, the formation of a committee for…

Cybersecurity company BlueVoyant has added technology executive Amit Jasuja to its executive leadership team as Chief Product Officer. Jasuja, based in Sydney, Australia, joins to strengthen BlueVoyant’s commitment to enhancing customer value and ensuring future growth. CEO James Rosenthal expressed excitement about Jasuja’s appointment, highlighting how it underscores their dedication to delivering top-notch cybersecurity solutions and positioning for sustained growth. With more than three decades of security leadership experience, Amit Jasuja significantly enriches BlueVoyant’s strategic product direction. His primary objective is to consolidate the product lines, aiming for a larger share of the cybersecurity market. Jasuja’s extensive experience spans across…