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  • Play an active role in supporting state government on Policy & Regulatory Reforms: FICCI-KSC through member feedback and various activities helps state government in identifying potential areas of reforms and provide Industry Input for Ease of Doing Business.
  • Organize Capacity Building workshops, seminars and Business Networking platform for the members for discussing issues, schemes and potential sectors for investment.
  • State council organize various focused B2B / B2G meetings with many Domestic and International companies and delegation and provide matchmaking facilities to connect FICCI Member companies with them.
  • State council generates leads on potential investors, who are looking to invest in the state through various activities including Exhibitions, Business Summits and B2B meetings and facilitate them in connecting with state government.
  • Apart from State centric activities, state council also drive National Agenda for various sectors and support activities organized by FICCI HO in the regions of Karnataka.

FICCI Karnataka State Council (FICCI-KSC) is based in Bengaluru which is the capital of the Indian state of Karnataka. It has a population of over ten million, making it a megacity and the third most populous city and fifth most populous urban agglomeration in India.

Karnataka is one of the fastest growing states in India. The natural resources, policy incentives and infrastructure in the state favour investments in the IT/ITeS, biotechnology, engineering, electronics, automotive, textiles, agriculture and food-processing sectors. The state has about 401 R&D centres, the most in India. Around 400 of the Fortune Global 500 companies outsource their IT services to firms in Bengaluru.

FICCI-KSC, since its inception, has been playing an important role in promoting successful centre - state interface, assisting different verticals in FICCI to create awareness, stimulate and strengthen the reform process in the State of Karnataka. FICCI- KSC works closely with the State Government & Industry on policy issues, enhancing efficiency, competitiveness and expanding business opportunities for the industry through a wide spectrum of specialized services and global linkages.

FICCI-KSC organizes events and meetings to take up mainly policy issues, programmes on industry developments for awareness creation, industry mission, B2B meetings and facilitate inbound and overseas Business Delegation.

FICCI-KSC mainly works with the members of FICCI-KSC (which includes Corporates & regional Chambers) and FICCI-KSC Executive Committe Members. FICCI works extensively with its regional chambers and bodies, and its members are actively being involved in various events and seminars organised throughout the year.

Karnataka State Council Bengaluru office functions with Mr. Shaju Mangalam as the Head, Karnataka State Council.

FICCI's Engagement

  • Play an active role in supporting state government on Policy & Regulatory Reforms: FICCI-KSC through member feedback and various activities helps state government in identifying potential areas of reforms and provide Industry Input for Ease of Doing Business.
  • Organize Capacity Building workshops, seminars and Business Networking platform for the members for discussing issues, schemes and potential sectors for investment.
  • State council organize various focused B2B / B2G meetings with many Domestic and International companies and delegation and provide matchmaking facilities to connect FICCI Member companies with them.
  • State council generates leads on potential investors, who are looking to invest in the state through various activities including Exhibitions, Business Summits and B2B meetings and facilitate them in connecting with state government.
  • Apart from State centric activities, state council also drive National Agenda for various sectors and support activities organized by FICCI HO in the regions of Karnataka.

Timeline

2023
Mar
Event

North Karnataka MSME Conference, 2023

2022
Oct
Event

India Family Business Summit 2022

Event

Karnataka Investors Meet, New Delhi

Sep
Press Release

INDIA NEEDS MACHINERY AND TECHNOLOGIES FOR SMALL & MARGINAL FARMERS: Shobha Karandlije, Union Minister of State for Agriculture and Farmers Welfare

2021
Event

India @75 for the Next 75
MSME & Cyber Security : End-to-End Solutions

Jul
Press Release

Vibrant industry founded on level playing field with healthy competition can lead the economy to a higher growth trajectory: Chairman, CCI

Event

Competition Act: Revolutionizing Corporate & Legal Strategies

Mar
Event

Karnataka Coastline Business Conclave 2021

Feb
Press Release

Govt aims to become self-reliant in silk sector in next two years: Smriti Irani

Event

Karnataka VastraTek - Apparel & Textile Conclave 2021

2020
Nov
Press Release

Govt working to make India an automobile manufacturing hub in next 5 years: Nitin Gadkari

Event

Electric Mobility Conference 2020: EV's - The Spark Revolution in India

Oct
Press Release

Consent of Individual rock bottom of the Data Protection: Justice BN Srikrishna

Event

FICCI Virtual Conclave on Data Protection Law

Sep
Event

Electric Mobility Conference 2020 - The Spark Revolution in India

Aug
Event

Webinar on Consumer Protection and E-Commerce Rules 2020

Press Release

Cooperative banks likely to be included as lenders under ECLGS Scheme; Govt. aims to increase MSMEs' contribution to 50% of GDP: Nitin Gadkari

Event

Atmanirbhar MSME Conclave

Apr
Event

Webinar on GST Challenges from COVID-19 & Lock Down

2019
Dec
Study

A wider circle: Digital lending and the changing landscape of financial inclusion

Event

FICCI Digital Financial Inclusion Conference

Aug
Event

Smart Cities, Art Cities - Exploring Creative Opportunities

Event

Communication, Coordination and Collaboration- Strengthening the fight against counterfeiting and smuggling

Jul
Event

Geospatial Technologies for Heritage Conservation and Management

Jun
Study

Co-Working Reshaping Indian Workplaces

Study

Co-Living Reshaping Rental Housing in India

Mar
Event

Seminar on Sweeteners - Innovative Ingredients for a Better Health

Event

FICCI Pwc LEVEL NXT Award ceremony

Feb
Event

Legal Requirements Related to Environment, Health and Safety Based on ISO 14001 and ISO 45001:2018 Management System

Press Release

MRO and Simulator opportunities will be the growth drivers of Indian Military Aerospace Industry, says defence experts at Aero India 2019

Event

Technical Session on MRO Opportunities and Simulators

2018
Dec
Event

India Innovation Growth Programme (IIGP) 2.0 - Demo Day 2018

Oct
Event

Smart Asia India Expo & Summit 2018: Making 'Smart Cities Mission' a Reality

Sep
Event

BTS-CyberComm 2018: Cybersecurity in the Age of Smart Manufacturing

Event

LevelNXT Roadshow in Bengaluru

Event

FICCI PwC LEVELNXT Roadshow in Bengaluru

Aug
Event

FICCI partnering with PwC for LEVELNXT program

May
Event

Conference on 'Project Management' - Embrace and Lead Change through Effective Execution of Projects

Feb
Event

India Pharma 2018: International Exhibition & Conference on Pharmaceutical Industry

Event

India Medical Device 2018

Jan
Event

Promoting Awareness & Usage of Steel Slag

2017
Dec
Event

Interactive Business session and Panel Discussion on "IOT-Digitalisation and Cyber disruption; Emerging Challenges and Safety Solutions"

Aug
Press Release

Advantage Healthcare India 2017 global summit on medical value travel to begin in Bengaluru on Oct 12

Feb
Event

2nd International Exhibition & Conference on Pharmaceutical Industry

Jan
Event

International Exhbition & Conference on Medical Device Sector

2016
Oct
Event

Bengaluru Technology Expo and Investor - Innovator Meet under DST-Lockheed Martin India Innovation Growth Programme

Jun
Event

Seminar on Combating Illicit Trade - An Imperative to Accelerate Economic Development

Event

FICCI-EXIM Bank Capacity Building Programme on Promoting Trade and Investments with BRICS Countries

Mar
Event

FICCI-EY Post - Budget Interactive Session on Central Budget 2016-17 'Industry Impact Analysis'

Jan
Event

Invest Karnataka 2016: Global Investors Meet, Textiles Investors Meet

2015
Dec
Event

IRCA UK Approved ISO 27001:2013 Information Security Management System (ISMS) Lead Auditor Training Program

Oct
Event

DST-Lockheed Martin India Innovation Growth Programme 2015: Bangalore Technology Expo & Innovator - Investor Meet

Event

2nd India-Central Europe Business Forum (ICEBF)

Sep
Event

FICCI Young Leaders talk session ‘Make in India’ - How Young Leaders can contribute towards it!

Jul
Press Release

FICCI seminar on Integrated Digital Solutions for a Smarter Karnataka

Press Release

FICCI gives policy suggestions to take India to a Higher Growth Trajectory

Event

National Executive Committee Meeting

Mar
Event

"Your Visa for temporary export/import of goods between International Borders": FICCI Workshop on ATA Carnet

Jan
Event

Customs Training Programme-Capacity Building Programme

2014
Aug
Event

Seminar on 'Curbing Counterfeiting and Smuggling – An Imperative for Indian Economy'

Jul
Event

Classroom Session on key provisions of Companies Act, 2013

May
Event

Emerging Trends in Non - Store Retail in India: Opportunities & Challenges

Event

Seminar on 'Curbing Counterfeiting and Smuggling – An Imperative for Indian Economy'

Feb
Event

Classroom Session on key provisions of Companies Act, 2013

Jan
Event

Conference and Exhibition on Chemical (Industrial) Disaster Management (CIDM) - "Disaster Risk Reduction in Chemical Industries, Safe Transportation of Petroleum, Petroleum Products & Natural Gas"

2013
Dec
Event

Cluster Level IP Awareness Programme for Machine Tool Cluster

Events

Mar, 2023

North Karnataka MSME Conference, 2023

Mar 15, 2023, CUBIX Hotel - Gokul Road, Hubballi, Karnataka, 10 AM - 5 PM

Roadshow on Auction of Minor Mineral bearing areas in Andhra Pradesh postponed

Mar 02, 2023, The Lalit Ashok, Bengaluru, 10.00 a.m.

Oct, 2022

India Family Business Summit 2022

Oct 21, 2022, Sir M.V. Auditorium, FKCCI, K.G. Road, Bangalore

Karnataka Investors Meet, New Delhi

Oct 11, 2022, Ballroom, Leela Palace, Chanakyapuri, New Delhi, 6: 30 PM onwards

Sep, 2021

India @75 for the Next 75
MSME & Cyber Security : End-to-End Solutions

Sep 07, 2021, Virtual Platform

Jul, 2021

Competition Act: Revolutionizing Corporate & Legal Strategies

Jul 08, 2021, Virtual Platform

Mar, 2021

Karnataka Coastline Business Conclave 2021

Mar 21, 2021,

Feb, 2021

Karnataka VastraTek - Apparel & Textile Conclave 2021

Feb 23, 2021, Virtual Platform

Nov, 2020

Electric Mobility Conference 2020: EV's - The Spark Revolution in India

Nov 06, 2020, Virtual Platform, 11:00 AM - 02:00 Pm

Oct, 2020

FICCI Virtual Conclave on Data Protection Law

Oct 22, 2020, Virtual Platform, 03:00 PM

Sep, 2020

Electric Mobility Conference 2020 - The Spark Revolution in India

Sep 21, 2020, Virtual Platform, 11:00 AM - 02:00 PM

Aug, 2020

Webinar on Consumer Protection and E-Commerce Rules 2020

Aug 25, 2020, Virtual Platform, 04:00 PM - 06:00 PM

Atmanirbhar MSME Conclave

Aug 10, 2020, Virtual Platform, 12:00 PM - 03:00 PM

Apr, 2020

Webinar on GST Challenges from COVID-19 & Lock Down

Apr 13, 2020, Webinar, 11:30 AM - 12:30 PM

Dec, 2019

FICCI Digital Financial Inclusion Conference

Dec 02, 2019, Bengaluru, Karnataka

Aug, 2019

Communication, Coordination and Collaboration- Strengthening the fight against counterfeiting and smuggling

Aug 31, 2019, Bengaluru, Karnataka

Smart Cities, Art Cities - Exploring Creative Opportunities

Aug 31, 2019, Bengaluru, Karnataka

Jul, 2019

Geospatial Technologies for Heritage Conservation and Management

Jul 19, 2019, Bengaluru, Karnataka

Mar, 2019

Seminar on Sweeteners - Innovative Ingredients for a Better Health

Mar 14, 2019, Bengaluru, Karnataka

FICCI Pwc LEVEL NXT Award ceremony

Mar 05, 2019, Bengaluru, Karnataka

Feb, 2019

Legal Requirements Related to Environment, Health and Safety Based on ISO 14001 and ISO 45001:2018 Management System

Feb 25, 2019, Bengaluru, Karnataka

Technical Session on MRO Opportunities and Simulators

Feb 21, 2019, Bengaluru, Karnataka

Dec, 2018

India Innovation Growth Programme (IIGP) 2.0 - Demo Day 2018

Dec 21, 2018, Bengaluru, Karnataka

Oct, 2018

Smart Asia India Expo & Summit 2018: Making 'Smart Cities Mission' a Reality

Oct 04, 2018, Bengaluru, Karnataka

Sep, 2018

BTS-CyberComm 2018: Cybersecurity in the Age of Smart Manufacturing

Sep 26, 2018, Bengaluru, Karnataka

FICCI PwC LEVELNXT Roadshow in Bengaluru

Sep 24, 2018, Bengaluru, Karnataka

LevelNXT Roadshow in Bengaluru

Sep 24, 2018, Bengaluru, Karnataka

Aug, 2018

FICCI partnering with PwC for LEVELNXT program

Aug 28, 2018, Bengaluru, Karnataka

May, 2018

Conference on 'Project Management' - Embrace and Lead Change through Effective Execution of Projects

May 02, 2018, Bengaluru, Karnataka

Feb, 2018

India Pharma 2018: International Exhibition & Conference on Pharmaceutical Industry

Feb 15, 2018, Bengaluru, Karnataka

India Medical Device 2018

Feb 15, 2018, Bengaluru, Karnataka

Jan, 2018

Promoting Awareness & Usage of Steel Slag

Jan 24, 2018, Vijayanagar, JSW Steel, Bellary, Karnataka

Dec, 2017

Interactive Business session and Panel Discussion on "IOT-Digitalisation and Cyber disruption; Emerging Challenges and Safety Solutions"

Dec 04, 2017, Bengaluru, Karnataka

Feb, 2017

2nd International Exhibition & Conference on Pharmaceutical Industry

Feb 11, 2017, Bengaluru

Jan, 2017

International Exhbition & Conference on Medical Device Sector

Jan 09, 2017, Bengaluru

Oct, 2016

Bengaluru Technology Expo and Investor - Innovator Meet under DST-Lockheed Martin India Innovation Growth Programme

Oct 13, 2016, Bengaluru

Jun, 2016

Seminar on Combating Illicit Trade - An Imperative to Accelerate Economic Development

Jun 24, 2016, Bengaluru

FICCI-EXIM Bank Capacity Building Programme on Promoting Trade and Investments with BRICS Countries

Jun 22, 2016, Bengaluru

Mar, 2016

FICCI-EY Post - Budget Interactive Session on Central Budget 2016-17 'Industry Impact Analysis'

Mar 01, 2016, Bengaluru

Jan, 2016

Invest Karnataka 2016: Global Investors Meet, Textiles Investors Meet

Jan 28, 2016, FICCI, New Delhi

Dec, 2015

IRCA UK Approved ISO 27001:2013 Information Security Management System (ISMS) Lead Auditor Training Program

Dec 07, 2015, Bengaluru

Oct, 2015

DST-Lockheed Martin India Innovation Growth Programme 2015: Bangalore Technology Expo & Innovator - Investor Meet

Oct 15, 2015, Bengaluru

2nd India-Central Europe Business Forum (ICEBF)

Oct 05, 2015, Bengaluru

Sep, 2015

FICCI Young Leaders talk session ‘Make in India’ - How Young Leaders can contribute towards it!

Sep 27, 2015, Bengaluru

Jul, 2015

National Executive Committee Meeting

Jul 23, 2015, Bengaluru

Mar, 2015

"Your Visa for temporary export/import of goods between International Borders": FICCI Workshop on ATA Carnet

Mar 13, 2015, Bangalore

Jan, 2015

Customs Training Programme-Capacity Building Programme

Jan 30, 2015, Bangalore

Aug, 2014

Seminar on 'Curbing Counterfeiting and Smuggling – An Imperative for Indian Economy'

Aug 05, 2014, Bengaluru

Jul, 2014

Classroom Session on key provisions of Companies Act, 2013

Jul 18, 2014, Bengaluru

May, 2014

Emerging Trends in Non - Store Retail in India: Opportunities & Challenges

May 14, 2014, Hotel Lalit Ashok, Bangalore

Seminar on 'Curbing Counterfeiting and Smuggling – An Imperative for Indian Economy'

May 05, 2014, Bengaluru

Feb, 2014

Classroom Session on key provisions of Companies Act, 2013

Feb 14, 2014, Hotel Le Meridien, Sankey Road, Bangalore

Jan, 2014

Conference and Exhibition on Chemical (Industrial) Disaster Management (CIDM) - "Disaster Risk Reduction in Chemical Industries, Safe Transportation of Petroleum, Petroleum Products & Natural Gas"

Jan 30, 2014, Bangalore

Dec, 2013

Cluster Level IP Awareness Programme for Machine Tool Cluster

Dec 20, 2013, Le Meridien, Bangalore

Chair

Mr K Ullas Kamath

Joint Managing Director
Jyothy Laboratories Ltd

Co-Chair

Mr. Siddhartha Agarwal

Managing Director
Bhoruka Park Private Limited
Morning Tidings |

FICCI Awards were presented to eight

The Hindu |

FICCI awards presented to eight

The Daily Guardian |

Government aims to become self-reliant in silk sector in two years

Smriti Zubin Irani, Union Minister of Textiles and Women & Child Development Government of India today said that the recent Budget has brought cheer to the textile industry with the announcement of seven mega textile parks. Additionally, INR 10,000 crores have been dedicated by the Govt of India for PLI schemes, specially dedicated to MMF and technical textiles.

Addressing the inaugural session of the Karnataka VastraTek – Apparel & Textile Conclave organised by the Department of Handloom and Textiles, Govt of Karnataka in association with FICCI Karnataka State Council, Ms Irani elaborated on the growth of the silk sector in the state, Ms Irani said that Karnataka reigns in the realm of silk. “Under the Silk Samagra Program, the Govt of India dedicated specifically over INR 2,000 crores for the development of silk. I am hopeful that the industry gives the state of Karnataka ideas, proposals or initiatives that can make our country Atmanirbhar in silk. We in the Ministry of Textiles are looking at the next two years to ensure that India is self-reliant in the space of silk,” she said.

“Just reducing the produce line to saris and garments would be doing a great injustice to the potential of the silk sector. We are aware that silk, especially the waste of a cocoon can be used by pharma and cosmetic companies. We are hopeful that industry captains can suggest usage of silk waste to help elaborate our production line or elaborate our diversification prospects, Ms Irani added.

On the future of textiles in the state of Karnataka, the Minister said that the MSP operations for cotton procurement by the Cotton Cooperation of India has touched over INR 359 crores in the state. “From 2014-15 to this year, the Ministry of Textiles has extended support of over INR 1,622 crores only for cotton procurement and MSP operations benefiting over 1.67 lakh farmers,” she said.

Highlighting the importance of the handicrafts sector, the Minister said that Pehchaan Cards were distributed to over 26,000 artisans. The latest handloom census has brought to light that there are over 50,000 weavers in Karnataka who are looking at new opportunities digitally to expand their markets. She further suggested that on lines of the GeM portal that has brought on-board over 1,50,000 weavers from across the country, a similar digital opportunity is given to the marketing of artisans and weavers of Karnataka.

The textile and the apparel sector were tested as an industry during the COVID times and we rose to that challenge nationally and internationally by becoming the second largest manufacturers of PPE suits. “The fact that we could turn around our manufacturing processes in less than 60 days to meet the immediate need of our country speaks volume and is a testimony to the talent of the textile industry,” she added.

Mr Shrimanth Balasaheb Patil, Minister of Handloom and Textile & Minority Welfare Department, Government of Karnataka said that the state was first state to implement a dedicated textile policy and has been an inspiration to other states in the country for the same. The Doddabalapur Integrated Textile Park is the first integrated textile park of the country spread across 48 acres of land and has over 85 units focused on weaving, warping, among others and has generated employment for over 8000 people.

“The Govt of Karnataka is committed to providing world class facilities with easy access to railways, airports and ports for the smooth export of goods and materials. The new Textile and Apparel Policy 2019-2024 has been formulated keeping industrial requirements in mind and the incentives provided is the best in the country. With constant monitoring, the sector will be able to tide over the difficult situation induced by the pandemic,” he said.

Mr Ullas Kamath, Chairman, FICCI Karnataka State Council & Joint Managing Director, Jyothy Labs Ltd said that the special emphasis given by the union budget 2021 to the textile and apparel sector to set up large textile parks are extremely important.

“Very few countries can boast of robust textile value chains that India has. Karnataka has been one of the key states of apparel and garment supplies to both domestic and international markets and the textile industry occupies key position in terms of its contribution to the state’s economy. The policy intervention by the Govt of Karnataka have created thriving manufacturing clusters.” he said.

The FICCI Karnataka State Council has been taking sector specific initiatives to improve industry performance. For the textile and apparel sector we are forming a subcommittee with leading garment manufacturers and this will certainly help to bring more vibrancy, he added.

Dr A Sakthivel, Chairman, Apparel Export Promotion Council (APEC) said that with the support and help extended by the Centre during in the last year, India became the second largest manufacturers of medical textile.

“Karnataka plays a vital role in apparel exports and does about INR 17,000 cr worth of exports per year. The state govt should utilise the PLI scheme and promote MMF garments in a big way, he said. There is a need for plug and play facilities for apparel manufacturing and processing, he suggested.

Speaking on the industry’s role, Mr R D Udeshi, President, Reliance Industries Limited said, “The time has come for the industry to come forward and be aggressive for reinvestment and become one of the major manufacturing hubs in the global arena. We, as an industry, have proved ourselves during the pandemic. From importing PPE suits to manufacturing and exporting the same, this has proved that the industry has the willpower and manufacturing excellence.”

Mr Jacob John, President – Premium Brands, Adithya Birla Fashion & Retail Limited said that the retail sector is pleased to see business bouncing back after a prolonged crisis induced by the pandemic. “With the steps taken by the govt, we expect business to attain normalcy by Q2 of FY22,” he said.

Mr Siddhartha Agarwal, Co-Chair, FICCI Karnataka State Council and Managing Director, Bhoruka Park Private Limited delivered the vote of thanks and said that the conclave had been organised against the background of the new state textile policy unveiled by the Govt of Karnataka.

On the future of textiles in Karnataka, the minister said that the MSP operations for cotton procurement by the Cotton Cooperation of India has touched over Rs 359 crore in the state. ‘From 2014-15 to this year, the Ministry of Textiles has extended support of over Rs 1,622 crore only for cotton procurement and MSP operations benefiting over 1.67 lakh farmers,” she said.

Millennium Post |

India looks to become self-reliant in silk sector in next 2 years: Irani

The government is looking to ensure that India become self-reliant in the silk sector in the next two years, Union Minister Smriti Irani said on Tuesday. The Minister of Textiles and Women & Child Development said that the recent Budget has brought cheer to the textile industry with the announcement of seven mega textile parks.

Addressing the inaugural session of the Karnataka Vastra Tek - Apparel & Textile Conclave organised by the Department of Handloom and Textiles, Government of Karnataka in association with FICCI Karnataka State Council, Irani elaborated on the growth of the silk sector in the state. She also said that Karnataka reigns in the realm of silk.

"Under the Silk Samagra Program, the Government of India dedicated specifically over Rs 2,000 crore for the development of silk. I am hopeful that the industry gives the state of Karnataka ideas, proposals or initiatives that can make our country Aatmanirbhar in silk. We in the Ministry of Textiles are looking at the next two years to ensure that India is self-reliant in the space of silk," she said.

On the future of textiles in the state of Karnataka, the minister said that the Minimum Support Price operations for cotton procurement by the Cotton Corporation of India has touched over Rs 359 crore in the state.

"From 2014-15 to this year, the Ministry of Textiles has extended support of over Ra 1,622 crore only for cotton procurement and MSP operations benefiting over 1.67 lakh farmers," she said. Highlighting the importance of the handicraft sector, the minister said that 'Pehchaan Cards' or identity cards were distributed to over 26,000 artisans. The latest handloom census has brought to light that there are over 50,000 weavers in Karnataka who are looking at new opportunities digitally to expand their markets.

Outlook |

India looks to become self-reliant in silk sector in next two years: Irani

The government is looking to ensure that India become self-reliant in the silk sector in the next two years, Union Minister Smriti Irani said on Tuesday.

The Minister of Textiles and Women & Child Development said that the recent Budget has brought cheer to the textile industry with the announcement of seven mega textile parks.

Addressing the inaugural session of the Karnataka Vastra Tek - Apparel & Textile Conclave organised by the Department of Handloom and Textiles, Government of Karnataka in association with FICCI Karnataka State Council, Irani elaborated on the growth of the silk sector in the state. She also said that Karnataka reigns in the realm of silk.

"Under the Silk Samagra Program, the Government of India dedicated specifically over Rs 2,000 crore for the development of silk. I am hopeful that the industry gives the state of Karnataka ideas, proposals or initiatives that can make our country Aatmanirbhar in silk. We in the Ministry of Textiles are looking at the next two years to ensure that India is self-reliant in the space of silk," she said.

On the future of textiles in the state of Karnataka, the minister said that the Minimum Support Price operations for cotton procurement by the Cotton Corporation of India has touched over Rs 359 crore in the state.

"From 2014-15 to this year, the Ministry of Textiles has extended support of over Ra 1,622 crore only for cotton procurement and MSP operations benefiting over 1.67 lakh farmers," she said.

Highlighting the importance of the handicraft sector, the minister said that ''Pehchaan Cards'' or identity cards were distributed to over 26,000 artisans.

The latest handloom census has brought to light that there are over 50,000 weavers in Karnataka who are looking at new opportunities digitally to expand their markets.

She further suggested that on lines of the GeM portal that has brought on board over 1,50,000 weavers from across the country, a similar digital opportunity is given to the marketing of artisans and weavers of Karnataka.

The textiles and the apparel sectors were tested as an industry during the COVID times and "we rose to that challenge nationally and internationally by becoming the second largest manufacturers of PPE suits," Irani said.

"The fact that we could turn around our manufacturing processes in less than 60 days to meet the immediate need of our country speaks volume and is a testimony to the talent of the textile industry," she added.

Devdiscourse |

India looks to become self-reliant in silk sector in next two years: Irani

The government is looking to ensure that India become self-reliant in the silk sector in the next two years, Union Minister Smriti Irani said on Tuesday. The Minister of Textiles and Women & Child Development said that the recent Budget has brought cheer to the textile industry with the announcement of seven mega textile parks.

Addressing the inaugural session of the Karnataka Vastra Tek - Apparel & Textile Conclave organised by the Department of Handloom and Textiles, Government of Karnataka in association with FICCI Karnataka State Council, Irani elaborated on the growth of the silk sector in the state. She also said that Karnataka reigns in the realm of silk. ''Under the Silk Samagra Program, the Government of India dedicated specifically over Rs 2,000 crore for the development of silk. I am hopeful that the industry gives the state of Karnataka ideas, proposals or initiatives that can make our country Aatmanirbhar in silk. We in the Ministry of Textiles are looking at the next two years to ensure that India is self-reliant in the space of silk,'' she said.

On the future of textiles in the state of Karnataka, the minister said that the Minimum Support Price operations for cotton procurement by the Cotton Corporation of India has touched over Rs 359 crore in the state. ''From 2014-15 to this year, the Ministry of Textiles has extended support of over Ra 1,622 crore only for cotton procurement and MSP operations benefiting over 1.67 lakh farmers,'' she said. Highlighting the importance of the handicraft sector, the minister said that 'Pehchaan Cards' or identity cards were distributed to over 26,000 artisans. The latest handloom census has brought to light that there are over 50,000 weavers in Karnataka who are looking at new opportunities digitally to expand their markets. She further suggested that on lines of the GeM portal that has brought on board over 1,50,000 weavers from across the country, a similar digital opportunity is given to the marketing of artisans and weavers of Karnataka.

The textiles and the apparel sectors were tested as an industry during the COVID times and ''we rose to that challenge nationally and internationally by becoming the second largest manufacturers of PPE suits,'' Irani said. ''The fact that we could turn around our manufacturing processes in less than 60 days to meet the immediate need of our country speaks volume and is a testimony to the talent of the textile industry,'' she added.

Smart News Business |

India looks to become self-reliant in silk sector in next two years: Irani

The authorities is wanting to be certain that India become self-reliant in the silk sector in the next two years, Union Minister Smriti Irani stated on Tuesday. The Minister of Textiles and Women & Child Development stated that the latest Budget has introduced cheer to the textile business with the announcement of seven mega textile parks.
Addressing the inaugural session of the Karnataka Vastra Tek – Apparel & Textile Conclave organised by the Department of Handloom and Textiles, Government of Karnataka in affiliation with FICCI Karnataka State Council, Irani elaborated on the expansion of the silk sector in the state. She additionally stated that Karnataka reigns in the realm of silk.

“Under the Silk Samagra Program, the Government of India dedicated specifically over Rs 2,000 crore for the development of silk. I am hopeful that the industry gives the state of Karnataka ideas, proposals or initiatives that can make our country Aatmanirbhar in silk. We in the Ministry of Textiles are looking at the next two years to ensure that India is self-reliant in the space of silk,” she stated.

On the way forward for textiles in the state of Karnataka, the minister stated that the Minimum Support Price operations for cotton procurement by the Cotton Corporation of India has touched over Rs 359 crore in the state.

“From 2014-15 to this year, the Ministry of Textiles has extended support of over Ra 1,622 crore only for cotton procurement and MSP operations benefiting over 1.67 lakh farmers,” she stated.

Highlighting the significance of the handicraft sector, the minister stated that ‘Pehchaan Cards’ or id playing cards had been distributed to over 26,000 artisans.

The newest handloom census has introduced to gentle that there are over 50,000 weavers in Karnataka who’re new alternatives digitally to broaden their markets.

She additional instructed that on traces of the GeM portal that has introduced on board over 1,50,000 weavers from throughout the nation, the same digital alternative is given to the advertising and marketing of artisans and weavers of Karnataka.

The textiles and the attire sectors had been examined as an business throughout the COVID instances and “we rose to that challenge nationally and internationally by becoming the second largest manufacturers of PPE suits,” Irani stated.

“The fact that we could turn around our manufacturing processes in less than 60 days to meet the immediate need of our country speaks volume and is a testimony to the talent of the textile industry,” she added.

The Economic Times |

India looks to become self-reliant in silk sector in next two years: Irani

The government is looking to ensure that India become self-reliant in the silk sector in the next two years, Union Minister Smriti Irani said on Tuesday. The Minister of Textiles and Women & Child Development said that the recent Budget has brought cheer to the textile industry with the announcement of seven mega textile parks.

Addressing the inaugural session of the Karnataka Vastra Tek - Apparel & Textile Conclave organised by the Department of Handloom and Textiles, Government of Karnataka in association with FICCI Karnataka State Council, Irani elaborated on the growth of the silk sector in the state. She also said that Karnataka reigns in the realm of silk.

"Under the Silk Samagra Program, the Government of India dedicated specifically over Rs 2,000 crore for the development of silk. I am hopeful that the industry gives the state of Karnataka ideas, proposals or initiatives that can make our country Aatmanirbhar in silk. We in the Ministry of Textiles are looking at the next two years to ensure that India is self-reliant in the space of silk," she said.

On the future of textiles in the state of Karnataka, the minister said that the Minimum Support Price operations for cotton procurement by the Cotton Corporation of India has touched over Rs 359 crore in the state.

"From 2014-15 to this year, the Ministry of Textiles has extended support of over Ra 1,622 crore only for cotton procurement and MSP operations benefiting over 1.67 lakh farmers," she said.

Highlighting the importance of the handicraft sector, the minister said that 'Pehchaan Cards' or identity cards were distributed to over 26,000 artisans.

The latest handloom census has brought to light that there are over 50,000 weavers in Karnataka who are looking at new opportunities digitally to expand their markets.

She further suggested that on lines of the GeM portal that has brought on board over 1,50,000 weavers from across the country, a similar digital opportunity is given to the marketing of artisans and weavers of Karnataka.

The textiles and the apparel sectors were tested as an industry during the COVID times and "we rose to that challenge nationally and internationally by becoming the second largest manufacturers of PPE suits," Irani said.

"The fact that we could turn around our manufacturing processes in less than 60 days to meet the immediate need of our country speaks volume and is a testimony to the talent of the textile industry," she added.

Financial Express |

India looking to become self-reliant in silk sector in next two years: Union textile minister Smriti Irani

Addressing the inaugural session of the Karnataka Vastra Tek - Apparel & Textile Conclave organised by the Department of Handloom and Textiles, Government of Karnataka in association with FICCI Karnataka State Council, Irani elaborated on the growth of the silk sector in the state. She also said that Karnataka reigns in the realm of silk.

India looks to become self-reliant in silk sector in next two years: Union textile minister Smriti Irani

The government is looking to ensure that India become self-reliant in the silk sector in the next two years, Union Minister Smriti Irani said on Tuesday.

The Minister of Textiles and Women & Child Development said that the recent Budget has brought cheer to the textile industry with the announcement of seven mega textile parks.

Addressing the inaugural session of the Karnataka Vastra Tek – Apparel & Textile Conclave organised by the Department of Handloom and Textiles, Government of Karnataka in association with FICCI Karnataka State Council, Irani elaborated on the growth of the silk sector in the state. She also said that Karnataka reigns in the realm of silk.

“Under the Silk Samagra Program, the Government of India dedicated specifically over Rs 2,000 crore for the development of silk. I am hopeful that the industry gives the state of Karnataka ideas, proposals or initiatives that can make our country Aatmanirbhar in silk. We in the Ministry of Textiles are looking at the next two years to ensure that India is self-reliant in the space of silk,” she said.

On the future of textiles in the state of Karnataka, the minister said that the Minimum Support Price operations for cotton procurement by the Cotton Corporation of India has touched over Rs 359 crore in the state.

“From 2014-15 to this year, the Ministry of Textiles has extended support of over Ra 1,622 crore only for cotton procurement and MSP operations benefiting over 1.67 lakh farmers,” she said.

Highlighting the importance of the handicraft sector, the minister said that ‘Pehchaan Cards’ or identity cards were distributed to over 26,000 artisans.

The latest handloom census has brought to light that there are over 50,000 weavers in Karnataka who are looking at new opportunities digitally to expand their markets.

She further suggested that on lines of the GeM portal that has brought on board over 1,50,000 weavers from across the country, a similar digital opportunity is given to the marketing of artisans and weavers of Karnataka.

The textiles and the apparel sectors were tested as an industry during the COVID times and “we rose to that challenge nationally and internationally by becoming the second largest manufacturers of PPE suits,” Irani said.

“The fact that we could turn around our manufacturing processes in less than 60 days to meet the immediate need of our country speaks volume and is a testimony to the talent of the textile industry,” she added.

The Times of India |

Chennai-Bengaluru eway gets NHAI push in boost to logistics hubs

Giving a big push to the construction of expressways and to provide faster connectivity to upcoming logistics hubs, the National Highways Authority of India (NHAI) has invited bids for one package of the 263km Bengaluru-Chennai Expressway. The work on this four-lane expressway project, which will provide high speed and seamless connectivity to two upcoming logistics parks in Bengaluru and Chennai, will start in February or March.

This first expressway project in south India will boost logistics movement, which has gained more importance in recent times. The project has been divided into 10 packages, three each in Andhra Pradesh and Karnataka and four in Tamil Nadu. After completion, a car can travel the distance between Chennai and Bengaluru in less than two-and-a half hours.

Road transport and highways minister Nitin Gadkari told representatives of industry chamber FICCI last week that he has requested PM Modi to lay the foundation stone for the project. The NHAI has set March 2024 deadline to make this stretch operational, barely months before the next general election. The estimated cost of the project is around Rs 17,000 crore. The NHAI has set strict timelines for award and progress of all the 23 expressways and greenfield highways which have been finalised.

ELE Times |

Govt working to make India auto manufacturing hub in next 5 years: Union Minister Nitin Gadkari

Nitin Gadkari, Union Minister of Road Transport and Highways & MSME, on Friday, said that the government is working towards making India a global automobile manufacturing hub in the next five years. The government is already making policies to support the industry, he added.

Gadkari made the comments while addressing the virtual ‘Electric Mobility Conference 2020’, organized by FICCI Karnataka State Council, Gadkari said, “The future is very bright and India has the potential to become the largest Electric Vehicle (EV) market in the world as the government continues to push for EV adoption,” he added.

The Union Minister also called the auto industry to reduce costs of the EVs in order to boost sales He stressed that the quality of the vehicles should also be maintained. He said he hoped that higher output in the automobile industry would be able to cater to the rapidly growing market. He added that Indian manufacturers have the capability to make efficient EVs that can not only create more jobs but also provide opportunities for exports.

“e-Mobility is going to be the future mode of transport with greater efficiency and less impact on the environment. Import of crude oil and air pollution are two major concerns for the country. We need to have an integrated approach for EVs,” Gadkari added.

“We are going ahead with a pilot project; the Delhi-Mumbai corridor will become the lifeline of India and we plan to install new electric roads. Electricity as a fuel is available in the country, hence mass rapid transport on electricity is the most important solution for the country,” he added.

EV makers, he said, must decentralize their supply chains and companies need to focus on procuring raw materials and production of battery cells locally on a continued basis. Road transport in the country is undergoing a shift and he urged everyone to adopt eco-friendly mobility solutions.

Hindustan Times |

Govt working to make India automobile manufacturing hub in next 5 years: Gadkari

Nitin Gadkari, Union Minister of Road Transport and Highways and MSME, on Friday, said that the government is working towards making India a global automobile manufacturing hub in the next five years.

The government is already making policies to support the industry, he added.

According to a press statement from the Ministry of Road Transport and Highways, addressing the virtual 'Electric Mobility Conference 2020', organized by FICCI Karnataka State Council, Gadkari said, "The future is very bright and India has the potential to become the largest Electric Vehicle (EV) market in the world as the government continues to push for EV adoption."

Gadkari further called upon the automobile industry to reduce the cost of the EVs so that the sale number goes up and as the sale goes up the industry would also gain. He stressed that the quality of the vehicles should also be maintained.

According to the press statement, The Union Minister felt that with higher output the automobile industry would be able to cater to a growing market. He also said that Indian manufacturers have the capability to make efficient EVs that can not only create more jobs but also provide opportunities for exports.

"e-Mobility is going to be the future mode of transport with greater efficiency and less impact on the environment. Import of crude oil and air pollution are two major concerns for the country. We need to have an integrated approach for EVs," he added.

Gadkari further urged FICCI and other stakeholders to come up with an integrated approach towards developing the EV sector in India. Referring to the NITI Aayog report, the Minister said that India needs a minimum of 10 GWs per hour of cells by 2022, which will be expanded to 50 GWs by 2025.

"We need to encourage the manufacturing of these cells in India. I urge the industry to think about manufacturing e-batteries in the country. We need to have a policy that promotes cost-effectiveness, and substitute import, pollution-free and indigenous," he emphasized.

Gadkari also said that the government is working towards making e-Highway on Delhi and Mumbai Expressway where e-buses and trucks would run.

"We are going ahead with a pilot project; the Delhi-Mumbai corridor will become the lifeline of India and we plan to install new electric roads. Electricity as a fuel is available in the country, hence mass rapid transport on electricity is the most important solution for the country," he added.

EV makers, he said, must decentralize their supply chains and companies need to focus on procuring raw materials and production of battery cells locally on a continued basis. Road transport in the country is undergoing a shift and he urged everyone to adopt eco-friendly mobility solutions.

"I hope to see cleaner and more sustainable innovation from the industry as we move towards a greener tomorrow," noted Gadkari.

He also emphasised promoting use of bio fuels like CNG, LNG and informed that he would soon launch tractors run on Bio-CNG.

Financial Express |

Nitin Gadkari says India to become automobile manufacturing hub in 5 years; asks EV makers to cut price

Union Minister Nitin Gadkari today said that the government is working towards making India a global automobile manufacturing hub in the next five years. Nitin Gadkari added that the government is already making policies to support the industry. Speaking at the virtual ‘Electric Mobility Conference 2020’ the minister further said that the future is very bright and India has the potential to become the largest Electric Vehicle (EV) market in the world as the government continues to push for EV adoption. He also urged the auto industry to cut prices of Electric Vehicles (EVs) for increasing sales.

Nitin Gadkari underlined that the automobile industry would be able to cater to a growing market with higher output as the Indian manufacturers have the capability to make efficient EVs that can not only create more jobs but also provide opportunities for exports. e-Mobility is going to be the future mode of transport with greater efficiency and less impact on the environment. Import of crude oil and air pollution are two major concerns for the country, he added. The Union Minister highlighted that EV makers must decentralize their supply chains and companies need to focus on procuring raw materials and production of battery cells locally on a continued basis.

The demand for vehicles was already low in the past two years. Adding to the woes, the coronavirus pandemic further made a strong dent in the sales number. In the first quarter of this fiscal, the share of rural India in automobile retail sales increased on-year, while that of urban regions dropped. The reason was the concentration of the virus in the urban areas in Q1. Nearly 82 per cent of the caseload was in urban regions, bringing a near standstill situation in the economy. At the same time, only around 18% of the cases were present in rural areas.

However, in the second quarter, the pandemic penetrated deeper into the hinterland, and the share of fresh rural cases had doubled to around 38 per cent by September. Thus, the share of rural regions in automobile sales dropped sequentially across segments in the quarter, according to the Crisil report.

Live Mint |

Govt working to make India automobile manufacturing hub in next 5 Years: Gadkari

Nitin Gadkari, Minister of Road Transport and Highways & MSME, said the government is working towards making India a manufacturing hub for automobiles in the coming five years, globally.

Speaking at a virtual conference organised by the Federation of Indian Chambers of Commerce & Industry (FICCI) Karnataka State Council, the Union Minister also asked the automobile industry to reduce the prices of Electric Vehicles (EV) which will help the sales of EVs go up.

"The future is very bright and India has the potential to become the largest Electric Vehicle (EV) market in the world as the government continues to push for EV adoption," said Gadkari.

When speaking of reducing the cost of EVs, he also stressed on keeping the quality of the vehicles intact as good quality vehicles at reduced costs will help the industry gain form the sales.

While Indian manufacturers are capable to create more jobs by manufacturing efficient EVs, Gadkari also said they could create more opportunities for exports. "e-Mobility is going to be the future mode of transport with greater efficiency and less impact on the environment," he added.

According to a NITI Aayog report mentioned by him, India needs a minimum of 10 GWs per hour of cells by 2022, which will be expanded to 50 GWs by 2025 in terms of manufacturing the cells. He urged FICCI to come up with an integrated approach and manufacture e-batteries in the country.

"We need to have a policy that promotes cost-effectiveness, and substitute import, pollution-free and indigenous", he added.

He spoke about a pilot project, an e-highway on the Delhi and Mumbai Expressway where e-buses and trucks can run. "Electricity as a fuel is available in the country, hence mass rapid transport on electricity is the most important solution for the country", he added.

Speaking of eco-friendly solutions, he asked the EV makers to procure raw materials and manufacture battery cells locally and also promote use of bio fuels like CNG, LNG and informed that he would soon launch tractors run on Bio-CNG.

Mr Ullas Kamath, Chairman, FICCI Karnataka State Council and Mr Shekhar Viswanathan, Chairman, FICCI EV Committee were also present in the Electric Mobility Conference 2020 among others.

News18 |

India can become largest EV market in world, reduce cost to increase sales: Nitin Gadkari to OEMs

Nitin Gadkari, Minister of Road Transport and Highways & MSME, Govt of India, today said that the government is working towards making India a global automobile manufacturing hub in the next five years. The government is already making policies to support the industry, he added. Addressing the virtual ‘Electric Mobility Conference 2020’, organized by FICCI Karnataka State Council, Gadkari said, “The future is very bright and India has the potential to become the largest Electric Vehicle (EV) market in the world as the government continues to push for EV adoption,” he added.

Mr. Gadkari further called upon the automobile industry to reduce cost of the EVs so that the sale number goes up and as the sale goes up the industry would also gain. He stressed that the quality ogf the vehicles should also be maintained. Shri Gadkari felt that with higher output the automobile industry would be able to cater to growing market. He also said that Indian manufacturers have the capability to make efficient EVs that can not only create more jobs but also provide opportunities for exports. “e-Mobility is going to be the future mode of transport with greater efficiency and less impact on the environment. Import of crude oil and air pollution are two major concerns for the country. We need to have an integrated approach for EVs,” he added.

He further urged FICCI and other stakeholders to come up with an integrated approach towards developing the EV sector in India. Referring to the NITI Aayog report, Shri Gadkari said that India needs a minimum of 10 GWs per hour of cells by 2022, which will be expanded to 50 GWs by 2025. “We need to encourage the manufacturing of these cells in India. I urge the industry to think about manufacturing e-batteries in the country. We need to have a policy that promotes cost-effectiveness, and substitute import, pollution-free and indigenous,” he emphasized.

Gadkari also said that the government is working towards making e-Highway on Delhi and Mumbai Expressway where e-buses and trucks would run. “We are going ahead with a pilot project; the Delhi-Mumbai corridor will become the lifeline of India and we plan to install new electric roads. Electricity as a fuel is available in the country, hence mass rapid transport on electricity is the most important solution for the country,” he added.

EV makers, he said, must decentralize their supply chains and companies need to focus on procuring raw materials and production of battery cells locally on a continued basis. Road transport in the country is undergoing a shift and he urged everyone to adopt eco-friendly mobility solutions. “I hope to see cleaner and more sustainable innovation from the industry as we move towards a greener tomorrow,” noted Mr Gadkari.

He also emphasised promoting use of bio fuels like CNG, LNG and informed that he would soon launch tractors run on Bio-CNG.

Business World |

Govt working to make India automobile manufacturing hub in next 5 Years: Gadkari

Nitin Gadkari, Union Minister of Road Transport and Highways and MSME, on Friday, said that the government is working towards making India a global automobile manufacturing hub in the next five years.

The government is already making policies to support the industry, he added.
According to a press statement from the Ministry of Road Transport and Highways, addressing the virtual 'Electric Mobility Conference 2020', organized by FICCI Karnataka State Council, Gadkari said, "The future is very bright and India has the potential to become the largest Electric Vehicle (EV) market in the world as the government continues to push for EV adoption."

Gadkari further called upon the automobile industry to reduce the cost of the EVs so that the sale number goes up and as the sale goes up the industry would also gain. He stressed that the quality of the vehicles should also be maintained.

According to the press statement, The Union Minister felt that with higher output the automobile industry would be able to cater to a growing market. He also said that Indian manufacturers have the capability to make efficient EVs that can not only create more jobs but also provide opportunities for exports.

"e-Mobility is going to be the future mode of transport with greater efficiency and less impact on the environment. Import of crude oil and air pollution are two major concerns for the country. We need to have an integrated approach for EVs," he added.

Gadkari further urged FICCI and other stakeholders to come up with an integrated approach towards developing the EV sector in India. Referring to the NITI Aayog report, the Minister said that India needs a minimum of 10 GWs per hour of cells by 2022, which will be expanded to 50 GWs by 2025.

"We need to encourage the manufacturing of these cells in India. I urge the industry to think about manufacturing e-batteries in the country. We need to have a policy that promotes cost-effectiveness, and substitute import, pollution-free and indigenous," he emphasized.

Gadkari also said that the government is working towards making e-Highway on Delhi and Mumbai Expressway where e-buses and trucks would run.

"We are going ahead with a pilot project; the Delhi-Mumbai corridor will become the lifeline of India and we plan to install new electric roads. Electricity as a fuel is available in the country, hence mass rapid transport on electricity is the most important solution for the country," he added.

EV makers, he said, must decentralize their supply chains and companies need to focus on procuring raw materials and production of battery cells locally on a continued basis. Road transport in the country is undergoing a shift and he urged everyone to adopt eco-friendly mobility solutions.

"I hope to see cleaner and more sustainable innovation from the industry as we move towards a greener tomorrow," noted Gadkari.

He also emphasised promoting use of bio fuels like CNG, LNG and informed that he would soon launch tractors run on Bio-CNG.

Tehelka |

Government working to make India automobile manufacturing hub in next 5 years: Nitin Gadkari

Union Minister Nitin Gadkari on Friday said that the government is working towards making India a global automobile manufacturing hub in the next five years. The government is already making policies to support the industry, he added.

Addressing the virtual ‘Electric Mobility Conference 2020’, organized by FICCI Karnataka State Council, Gadkari said, “The future is very bright and India has the potential to become the largest Electric Vehicle (EV) market in the world as the government continues to push for EV adoption,” he added.

Gadkari further called upon the automobile industry to reduce cost of the EVs so that the sale number goes up and as the sale goes up the industry would also gain. He stressed that the quality of the vehicles should also be maintained. Gadkari felt that with higher output the automobile industry would be able to cater to growing market. He also said that Indian manufacturers have the capability to make efficient EVs that can not only create more jobs but also provide opportunities for exports. “e-Mobility is going to be the future mode of transport with greater efficiency and less impact on the environment. Import of crude oil and air pollution are two major concerns for the country. We need to have an integrated approach for EVs,” he added.

He further urged FICCI and other stakeholders to come up with an integrated approach towards developing the EV sector in India. Referring to the NITI Aayog report, Gadkari said that India needs a minimum of 10 GWs per hour of cells by 2022, which will be expanded to 50 GWs by 2025. “We need to encourage the manufacturing of these cells in India. I urge the industry to think about manufacturing e-batteries in the country. We need to have a policy that promotes cost-effectiveness, and substitute import, pollution-free and indigenous,” he emphasized.

Gadkari also said that the government is working towards making e-Highway on Delhi and Mumbai Expressway where e-buses and trucks would run. “We are going ahead with a pilot project; the Delhi-Mumbai corridor will become the lifeline of India and we plan to install new electric roads. Electricity as a fuel is available in the country, hence mass rapid transport on electricity is the most important solution for the country,” he added.

EV makers, he said, must decentralize their supply chains and companies need to focus on procuring raw materials and production of battery cells locally on a continued basis. Road transport in the country is undergoing a shift and he urged everyone to adopt eco-friendly mobility solutions. “I hope to see cleaner and more sustainable innovation from the industry as we move towards a greener tomorrow,” noted Gadkari.

Gadkari also emphasised promoting use of bio fuels like CNG, LNG and informed that he would soon launch tractors run on Bio-CNG.

Business Dunia |

Govt working to make India an automobile manufacturing hub in next 5 years: Nitin Gadkari

Mr Nitin Gadkari, Minister of Road Transport and Highways & MSME, Govt of India, today said that the government is working towards making India a global automobile manufacturing hub in the next five years. The government is already making policies to support the industry, he added.

Addressing the virtual ‘Electric Mobility Conference 2020’, organized by FICCI Karnataka State Council, Mr Gadkari said, “The future is very bright and India has the potential to become the largest Electric Vehicle (EV) market in the world as the government continues to push for EV adoption,” he added.

Mr Gadkari further said that Indian manufacturers have the capability to make efficient EVs that can not only create more jobs but also provide opportunities for exports. “e-Mobility is going to be the future mode of transport with greater efficiency and less impact on the environment. Import of crude oil and air pollution are two major concerns for the country. We need to have an integrated approach for EV,” he added.

While responding to a suggestion by Dr Pawan Goenka, MD, Mahindra and Mahindra Limited to put EVs under Priority Sector Lending, Mr Gadkari assured of extending all necessary support. “I would suggest FICCI draft a note that I can propose to the Finance Ministry. I assure of my support in trying to get the same sanctioned,” assured Mr Gadkari.

He further urged FICCI and other stakeholders to come up with an integrated approach towards developing the EV sector in India. Referring to the NITI Aayog report, Mr Gadkari said that India needs a minimum of 10 GWs per hour of cells by 2022, which will be expanded to 50 GWs by 2025. “We need to encourage the manufacturing of these cells in India. I urge the industry to think about manufacturing e-batteries in the country. We need to have a policy that promotes cost-effectiveness, and is import substitute, pollution-free and indigenous,” he emphasized.

Mr Gadkari also said that the government is working to launch an e-Highway between Delhi and Mumbai where e-buses and trucks would run. “We are going ahead with a pilot project; the Delhi-Mumbai corridor will become the lifeline of India and we plan to install new electric roads. Electricity as a fuel is available in the country, hence mass rapid transport on electricity is the most important solution for the country,” he added.

EV makers, he said, must decentralize their supply chains and companies need to focus on procuring raw materials and production of battery cells locally on a continued basis. Road transport in the country is undergoing a shift and he urged everyone to adopt eco-friendly mobility solutions. “I hope to see cleaner and more sustainable innovation from the industry as we move towards a greener tomorrow,” noted Mr Gadkari.

Dr Pawan Goenka, Managing Director, Mahindra and Mahindra Limited said that India has a huge opportunity to become the world leader in the shared mobility and last-mile applications of EV to become suppliers of technology and products to the world. He said that businesses must invest in technology development and that India must have its own IPR. He also said that EVs can make a big contribution to Atmanirbhar Bharat. “With lower GST, fame incentives, and state incentives, the govt has done its bit. The onus now lies on the industry, service providers & the end-users to help in the adoption of EVs,” he added.

Mr Ullas Kamath, Chairman, FICCI Karnataka State Council & Joint MD, Jyothy Labs Limited said, “FICCI strongly feels that India must continue to encourage EVs along with all other Electrified Vehicle technologies, such as Plug-in Hybrid EV, Strong Hybrid EVs & Fuel Cell EVs along with electrification of the transport sector to lessen air pollution, achieve fuel security and technology leadership in this sector. “Karnataka is one of the first movers in adopting EV technology and had announced the policy in 2017. The Govt of Karnataka is planning to set up an EV Cluster for companies who want to invest in this sector,” he added.

Mr Shekhar Viswanathan, Chairman, FICCI EV Committee and Vice Chairman and Whole-time Director, Toyota Kirloskar Motor Private Limited said that with the advent of GST and subsequent reduction for EVs shows that the government is fully supportive. He further added that the shift towards electrification can’t be achieved without creating a vibrant manufacturing eco-system for EV parts in the country. This is a challenge that will require collaboration between the industry, government along with state governments and conducive policies that will facilitate investment viability for local manufacturing, he noted.

Devdiscourse |

Gadkari urges FICCI to come up with integrated approach for developing EV sector

Shri Nitin Gadkari, Minister of Road Transport and Highways & MSME, Govt of India, today said that the government is working towards making India a global automobile manufacturing hub in the next five years. The government is already making policies to support the industry, he added.

Addressing the virtual 'Electric Mobility Conference 2020', organized by FICCI Karnataka State Council, Shri Gadkari said, "The future is very bright and India has the potential to become the largest Electric Vehicle (EV) market in the world as the government continues to push for EV adoption," he added.

Mr Gadkari further called upon the automobile industry to reduce the cost of the EVs so that the sale number goes up and as the sale goes up the industry would also gain. He stressed that the quality of the vehicles should also be maintained. Shri Gadkari felt that with higher output the automobile industry would be able to cater to a growing market. He also said that Indian manufacturers have the capability to make efficient EVs that can not only create more jobs but also provide opportunities for exports. "e-Mobility is going to be the future mode of transport with greater efficiency and less impact on the environment. Import of crude oil and air pollution are two major concerns for the country. We need to have an integrated approach for EVs," he added.

He further urged FICCI and other stakeholders to come up with an integrated approach towards developing the EV sector in India. Referring to the NITI Aayog report, Shri Gadkari said that India needs a minimum of 10 GWs per hour of cells by 2022, which will be expanded to 50 GWs by 2025. "We need to encourage the manufacturing of these cells in India. I urge the industry to think about manufacturing e-batteries in the country. We need to have a policy that promotes cost-effectiveness, and substitute import, pollution-free and indigenous," he emphasized.

Shri Gadkari also said that the government is working towards making e-Highway on Delhi and Mumbai Expressway where e-buses and trucks would run. "We are going ahead with a pilot project; the Delhi-Mumbai corridor will become the lifeline of India and we plan to install new electric roads. Electricity as a fuel is available in the country, hence mass rapid transport on electricity is the most important solution for the country," he added.

EV makers, he said, must decentralize their supply chains and companies need to focus on procuring raw materials and production of battery cells locally on a continued basis. Road transport in the country is undergoing a shift and he urged everyone to adopt eco-friendly mobility solutions. "I hope to see cleaner and more sustainable innovation from the industry as we move towards a greener tomorrow," noted Mr Gadkari.

Shri Gadkari also emphasised promoting the use of biofuels like CNG, LNG and informed that he would soon launch tractors run on Bio-CNG.

Mr Ullas Kamath, Chairman, FICCI Karnataka State Council said, "FICCI strongly feels that India must continue to encourage EVs along with all other Electrified Vehicle technologies, such as Plug-in Hybrid EV, Strong Hybrid EVs & Fuel Cell EVs along with electrification of the transport sector to lessen air pollution, achieve fuel security and technology leadership in this sector. "Karnataka is one of the first movers in adopting EV technology and had announced the policy in 2017 and is planning to set up an EV Cluster for companies who want to invest in this sector," he added.

Mr Shekhar Viswanathan, Chairman, FICCI EV Committee said that with the advent of GST and subsequent reduction for EVs shows that the government is fully supportive. He further added that the shift towards electrification can't be achieved without creating a vibrant manufacturing eco-system for EV parts in the country. This is a challenge that will require collaboration between the industry, government along with state governments and conducive policies that will facilitate investment viability for local manufacturing, he noted.

IND News |

Govt working to make India automobile manufacturing hub in next 5 years: Gadkari

Nitin Gadkari, Union Minister of Road Transport and Highways and MSME, on Friday, said that the government is working towards making India a global automobile manufacturing hub in the next five years.

The government is already making policies to support the industry, he added.

According to a press statement from the Ministry of Road Transport and Highways, addressing the virtual 'Electric Mobility Conference 2020', organized by FICCI Karnataka State Council, Gadkari said, "The future is very bright and India has the potential to become the largest Electric Vehicle (EV) market in the world as the government continues to push for EV adoption."

Gadkari further called upon the automobile industry to reduce the cost of the EVs so that the sale number goes up and as the sale goes up the industry would also gain. He stressed that the quality of the vehicles should also be maintained.

According to the press statement, The Union Minister felt that with higher output the automobile industry would be able to cater to a growing market. He also said that Indian manufacturers have the capability to make efficient EVs that can not only create more jobs but also provide opportunities for exports.

"e-Mobility is going to be the future mode of transport with greater efficiency and less impact on the environment. Import of crude oil and air pollution are two major concerns for the country. We need to have an integrated approach for EVs," he added.

Gadkari further urged FICCI and other stakeholders to come up with an integrated approach towards developing the EV sector in India. Referring to the NITI Aayog report, the Minister said that India needs a minimum of 10 GWs per hour of cells by 2022, which will be expanded to 50 GWs by 2025.

"We need to encourage the manufacturing of these cells in India. I urge the industry to think about manufacturing e-batteries in the country. We need to have a policy that promotes cost-effectiveness, and substitute import, pollution-free and indigenous," he emphasized.

Gadkari also said that the government is working towards making e-Highway on Delhi and Mumbai Expressway where e-buses and trucks would run.

"We are going ahead with a pilot project; the Delhi-Mumbai corridor will become the lifeline of India and we plan to install new electric roads. Electricity as a fuel is available in the country, hence mass rapid transport on electricity is the most important solution for the country," he added.

EV makers, he said, must decentralize their supply chains and companies need to focus on procuring raw materials and production of battery cells locally on a continued basis. Road transport in the country is undergoing a shift and he urged everyone to adopt eco-friendly mobility solutions.

"I hope to see cleaner and more sustainable innovation from the industry as we move towards a greener tomorrow," noted Gadkari.

He also emphasised promoting use of bio fuels like CNG, LNG and informed that he would soon launch tractors run on Bio-CNG.

Ten News |

Govt working to make India an automobile manufacturing hub in next 5 years: Nitin Gadkari

Nitin Gadkari, Minister of Road Transport and Highways & MSME, Govt of India, today said that the government is working towards making India a global automobile manufacturing hub in the next five years. The government is already making policies to support the industry, he added.

Addressing the virtual ‘Electric Mobility Conference 2020’, organized by FICCI Karnataka State Council, Mr Gadkari said, “The future is very bright and India has the potential to become the largest Electric Vehicle (EV) market in the world as the government continues to push for EV adoption,” he added.

Gadkari further said that Indian manufacturers have the capability to make efficient EVs that can not only create more jobs but also provide opportunities for exports. “e-Mobility is going to be the future mode of transport with greater efficiency and less impact on the environment. Import of crude oil and air pollution are two major concerns for the country. We need to have an integrated approach for EV,” he added.

While responding to a suggestion by Dr Pawan Goenka, MD, Mahindra and Mahindra Limited to put EVs under Priority Sector Lending, Mr Gadkari assured of extending all necessary support. “I would suggest FICCI draft a note that I can propose to the Finance Ministry. I assure of my support in trying to get the same sanctioned,” assured Gadkari.

He further urged FICCI and other stakeholders to come up with an integrated approach towards developing the EV sector in India. Referring to the NITI Aayog report, Gadkari said that India needs a minimum of 10 GWs per hour of cells by 2022, which will be expanded to 50 GWs by 2025. “We need to encourage the manufacturing of these cells in India. I urge the industry to think about manufacturing e-batteries in the country. We need to have a policy that promotes cost-effectiveness, and is import substitute, pollution-free and indigenous,” he emphasized.

Gadkari also said that the government is working to launch an e-Highway between Delhi and Mumbai where e-buses and trucks would run. “We are going ahead with a pilot project; the Delhi-Mumbai corridor will become the lifeline of India and we plan to install new electric roads. Electricity as a fuel is available in the country, hence mass rapid transport on electricity is the most important solution for the country,” he added.

EV makers, he said, must decentralize their supply chains and companies need to focus on procuring raw materials and production of battery cells locally on a continued basis. Road transport in the country is undergoing a shift and he urged everyone to adopt eco-friendly mobility solutions. “I hope to see cleaner and more sustainable innovation from the industry as we move towards a greener tomorrow,” noted Gadkari.

Dr Pawan Goenka, Managing Director, Mahindra and Mahindra Limited said that India has a huge opportunity to become the world leader in the shared mobility and last-mile applications of EV to become suppliers of technology and products to the world. He said that businesses must invest in technology development and that India must have its own IPR. He also said that EVs can make a big contribution to Atmanirbhar Bharat. “With lower GST, fame incentives, and state incentives, the govt has done its bit. The onus now lies on the industry, service providers & the end-users to help in the adoption of EVs,” he added.

Ullas Kamath, Chairman, FICCI Karnataka State Council & Joint MD, Jyothy Labs Limited said, “FICCI strongly feels that India must continue to encourage EVs along with all other Electrified Vehicle technologies, such as Plug-in Hybrid EV, Strong Hybrid EVs & Fuel Cell EVs along with electrification of the transport sector to lessen air pollution, achieve fuel security and technology leadership in this sector. “Karnataka is one of the first movers in adopting EV technology and had announced the policy in 2017. The Govt of Karnataka is planning to set up an EV Cluster for companies who want to invest in this sector,” he added.

Shekhar Viswanathan, Chairman, FICCI EV Committee and Vice Chairman and Whole-time Director, Toyota Kirloskar Motor Private Limited said that with the advent of GST and subsequent reduction for EVs shows that the government is fully supportive. He further added that the shift towards electrification can’t be achieved without creating a vibrant manufacturing eco-system for EV parts in the country. This is a challenge that will require collaboration between the industry, government along with state governments and conducive policies that will facilitate investment viability for local manufacturing, he noted.

Plunge Daily |

India can become largest EV market in the world: Nitin Gadkari

India has the potential to become the largest Electric Vehicle (EV) market in the world as the government continues to push for EV adoption, says Nitin Gadkari, the Minister of Road Transport and Highways & MSME. He said the government is also working towards making India a global automobile manufacturing hub in the next five years.

Gadkari, addressing the virtual Electric Mobility Conference 2020, urged the automobile industry to reduce the cost of EVs so that the sale number goes up, and as the sale goes up, the industry would also gain. The minister believes that with higher output, the automobile industry would be able to cater to the growing market. He highlighted that the Indian manufacturers have the capability to make efficient EVs that can create jobs and provide opportunities for exports. “e-mobility is going to be the future mode of transport with greater efficiency and less impact on the environment,” Gadkari said. “Import of crude and air pollution are two major concerns for the country. We need to have an integrated approach for EVs.”

As such, the minister urged FICCI and other stakeholders to come up with an integrated approach towards developing the EV sector in India. Gadkari said India needs a minimum of 10 GWs per hour of cells by 2022, which will be expanded to 50 GWs by 2025. “We need to encourage the manufacturing of these cells in India. I urge the industry to think about manufacturing e-batteries in the country. We need to have a policy that promotes cost-effectiveness and substitute import, pollution-free and indigenous,” he emphasized.

Gadkari pointed out that the government is working towards making e-Highway on Delhi and Mumbai Expressway where e-buses and trucks would run. “We are going ahead with a pilot project, the Delhi-Mumbai corridor will become the lifeline of India and we plan to install new electric roads,” he said. “Electricity as a fuel is available in the country, hence mass rapid transport on electricity is the most important solution for the country.” The minister also brought to fore the need for EV makers to decentralize their supply chains. He said companies need to focus on procuring raw materials and production of battery cells locally on a continued basis.

Orissa Diary |

Consent of Individual rock bottom of the Data Protection: Justice BN Srikrishna

Justice BN Srikrishna, Chairman, FSLRC, Indian Jurist & Retired Judge, Supreme Court of India today said that in the triangular forces, the citizen is the most important factor. The State and businesses exist only because of citizens and not vice-versa, he added.
Addressing a FICCI webinar on the Data Protection Bill, Justice Srikrishna, said that individual consent must be given greater importance while using data by the companies. Protecting the privacy of the individual cannot be compromised at any cost. “Consent is the rock bottom of everything. The purpose of the Data Protection Bill is to provide for the protection of privacy of individuals relating to their Personal Data,” he said.

The right of the state must be considered so that the state is in a position to make sure that a citizen’s rights are protected. ‘A fundamental right cannot be abridged except by a parliament enacted law. The executive orders cannot abridge a fundamental right without a warrant of authority from parliament,” said Justice Srikrishna.

Elaborating further, Justice Srikrishna said that the privacy of personal data is a fundamental right. The law must declare the objective and it must also have a rational connection between the law and the objective. “Community-generated data is input by citizens themselves,” he added.

Speaking at the webinar, Mr Ullas Kamath, Chairman, FICCI Karnataka State council observed that data has become the source of business decision making and there is a need for new thinking and new concepts to structure an interdisciplinary discussion while formulating approaches that ensure the protection of personal data as well as innovation in service and policy development.

The webinar was also addressed by Dr Akhil Prasad, Country Counsel, India, Boeing India Pvt Ltd; Mr Kumar KV, Group Head, IT, Narayana Health; Mr Lakshminarayanan R, Director & Head IPR, Samsung R&D India.

Business Standard |

No foolproof anonymity: Justice B N Srikrishna on data protection

Retired Justice B N Srikrishna on Thursday said anonymous data is not foolproof and can be de-anonymised in future.

Legislation can only make entities de-anonymising the data answerable to the law, he added.

Justice Srikrishna headed the committee on framing data protection norms, set up by the Ministry of Electronics and IT.

The government in the draft personal data protection bill has favoured processing of anonymous data to protect privacy of individuals.

He further said the personal data protection bill is before a joint parliamentary committee and it will be good if it comes out soon.

"What is thought to be anonymous can be de-anonymised tomorrow. Therefore, there is no foolproof anonymity. All that law can say is take it as anonymous, if you do de-anonymity, identify the person, then you will be answerable to the law," Justice Srikrishna said at a FICCI event.

The draft of the personal data protection bill, approved by the Cabinet in December 2019, proposes a penalty of up to Rs 15 crore and up to three-year jail term for company executives for violating privacy norms.

Justice Srikrishna said that he sees a triangle of forces where citizens are at the apex, state on one side and on the third side is trade and business.

"We have to find resultant in the forces of the triangle which will take forward the society and not scuttle either progress or individual rights," he added.

In response to a query, he said the data protection issue is too complex and therefore the bill has been sent to a parliamentary committee.

"Data is the buzzword today because people have realised that the data can be monetised," he added.

The bill was introduced in the Lok Sabha in February and has been referred to a Joint Parliamentary Committee of both the Houses, headed by BJP MP Meenakshi Lekhi.

The draft approved by the Cabinet in December mandates storage of critical data of individuals by internet companies within the country. Sensitive data can be transferred overseas only after explicit consent of the data owner.

Critical data will be defined by the government from time to time. Data related to health, religious or political orientation, biometrics, genetic, sexual orientation, health, finances, among others, have been identified as sensitive data.

ET Telecom |

No foolproof anonymity: Justice Srikrishna on data protection

Retired Justice B N Srikrishna on Thursday said anonymous data is not foolproof and can be de-anonymised in future. Legislation can only make entities de-anonymising the data answerable to the law, he added.

Justice Srikrishna headed the committee on framing data protection norms, set up by the Ministry of Electronics and IT.

The government in the draft personal data protection bill has favoured processing of anonymous data to protect privacy of individuals.

He further said the personal data protection bill is before a joint parliamentary committee and it will be good if it comes out soon.

"What is thought to be anonymous can be de-anonymised tomorrow. Therefore, there is no foolproof anonymity. All that law can say is take it as anonymous, if you do de-anonymity, identify the person, then you will be answerable to the law," Justice Srikrishna said at a FICCI event.

The draft of the personal data protection bill, approved by the Cabinet in December 2019, proposes a penalty of up to Rs 15 crore and up to three-year jail term for company executives for violating privacy norms.

Justice Srikrishna said that he sees a triangle of forces where citizens are at the apex, state on one side and on the third side is trade and business.

"We have to find resultant in the forces of the triangle which will take forward the society and not scuttle either progress or individual rights," he added.

In response to a query, he said the data protection issue is too complex and therefore the bill has been sent to a parliamentary committee.

"Data is the buzzword today because people have realised that the data can be monetised," he added.

The bill was introduced in the Lok Sabha in February and has been referred to a Joint Parliamentary Committee of both the Houses, headed by BJP MP Meenakshi Lekhi.

The draft approved by the Cabinet in December mandates storage of critical data of individuals by internet companies within the country. Sensitive data can be transferred overseas only after explicit consent of the data owner.

Critical data will be defined by the government from time to time. Data related to health, religious or political orientation, biometrics, genetic, sexual orientation, health, finances, among others, have been identified as sensitive data.

New on News |

No foolproof anonymity: Justice B N Srikrishna on data protection

Retired Justice B N Srikrishna on Thursday stated nameless information isn’t foolproof and may be de-anonymised in future.

Legislation can solely make entities de-anonymising the information answerable to the regulation, he added.

Justice Srikrishna headed the committee on framing data protection norms, arrange by the Ministry of Electronics and IT.

The authorities within the draft private data protection invoice has favoured processing of nameless information to guard privateness of people.

He additional stated the private data protection invoice is earlier than a joint parliamentary committee and will probably be good if it comes out quickly.

“What is thought to be anonymous can be de-anonymised tomorrow. Therefore, there is no foolproof anonymity. All that law can say is take it as anonymous, if you do de-anonymity, identify the person, then you will be answerable to the law,” Justice Srikrishna stated at a FICCI occasion.

The draft of the private information safety invoice, authorized by the Cabinet in December 2019, proposes a penalty of as much as Rs 15 crore and as much as three-year jail time period for firm executives for violating privateness norms.

Justice Srikrishna stated that he sees a triangle of forces the place residents are on the apex, state on one facet and on the third facet is commerce and enterprise.

“We have to find resultant in the forces of the triangle which will take forward the society and not scuttle either progress or individual rights,” he added.

In response to a question, he stated the information safety concern is just too complicated and due to this fact the invoice has been despatched to a parliamentary committee.

“Data is the buzzword today because people have realised that the data can be monetised,” he added.

The invoice was launched within the Lok Sabha in February and has been referred to a Joint Parliamentary Committee of each the Houses, headed by BJP MP Meenakshi Lekhi.

The draft authorized by the Cabinet in December mandates storage of crucial information of people by web corporations throughout the nation. Sensitive information may be transferred abroad solely after express consent of the information proprietor.

Critical information will probably be outlined by the federal government sometimes. Data associated to well being, non secular or political orientation, biometrics, genetic, sexual orientation, well being, funds, amongst others, have been recognized as delicate information.

Compsmag |

No foolproof anonymity: Justice Srikrishna on data protection

Retired judge BN Srikrishna said on Thursday that anonymous data is not watertight and could be anonymized in the future. Legislation can only create entities that owe the anonymization of the data to the law, he added. Justice Srikrishna headed the Committee for Drafting Data Protection Standards, established by the Ministry of Electronics and IT. In the bill on the protection of personal data, the government has given preference to the processing of anonymous data to protect the privacy of individuals. He went on to say that the bill on the protection of personal data is pending in a joint parliamentary committee and that it will be good when it comes out soon. “What is considered anonymous can be anonymized tomorrow. That is why there is no watertight anonymity. All the law can say is take it as anonymous, if you do the anonymity, identify the person, then you are accountable to the law, ”said Justice Srikrishna at a FICCI event. The draft Personal Data Protection Act, approved by the cabinet in December 2019, proposes a fine of up to Rs 15 crore and up to three years’ imprisonment for business leaders for violating privacy standards. Judge Srikrishna said he sees a triangle of forces where civilians are at the top, stands on one side and trade and business on the third. “We must result in the forces of the triangle that will move society forward and not nip progress or individual rights in the bud,” he added. In response to a question, he said that the issue of data protection is too complex and that the bill has therefore been sent to a parliamentary committee. “Data is the buzzword these days as people realize that the data can be monetized,” he added. The bill was introduced in the Lok Sabha in February and has been referred to a joint parliamentary committee of both houses, led by BJP MP Meenakshi Lekhi. The draft approved by the cabinet in December requires the storage of critical data of individuals by internet companies in the country. Sensitive data can only be transferred abroad with the express consent of the owner of the data. Critical data will be defined by the government from time to time. data related to health, religious or political orientation, biometric data, genetic, sexual orientation, health, finance, among others, have been identified as sensitive data.

News Highlights:
  • Retired judge BN Srikrishna said on Thursday that anonymous data is not watertight and could be anonymized in the future. In the bill on the protection of personal data, the government has given preference to the processing of anonymous data to protect the privacy of individuals.
  • No Infallible Anonymity: Justice Srikrishna on Data Protection

Bollyinside |

No foolproof anonymity: Justice Srikrishna on data protection

Retired judge BN Srikrishna said on Thursday that anonymous data is not infallible and may be de-anonymized in the future. The law can only make entities that de-anonymize data accountable to the law, he added. Judge Srikrishna headed the Committee on the Development of Data Protection Standards, set up by the Ministry of Electronics and Informatics. The government, in the Personal Data Protection Bill, has promoted the processing of anonymous data to protect the privacy of individuals. He added that the personal data protection bill is before a joint parliamentary committee and that it would be good if it was released soon. “What is considered anonymous can be de-anonymized tomorrow. Therefore, there is no infallible anonymity. All the law can say is to treat it as anonymous, if you remove the anonymity, identify the person, then you will be accountable before the law, ”Judge Srikrishna said at a FICCI event. Personal Data Protection Bill, approved by Cabinet in December 2019, proposes a sentence of up to 15 crore rupees and up to three years’ imprisonment for company executives for violating standards confidentiality. Judge Srikrishna said he sees a triangle of forces where citizens are at the top, the state on one side and commerce and business on the third. “We must find results in the forces of the triangle that will move society forward and not scuttle progress or individual rights,” he added. In response to a question, he said that the data protection issue is too complex and therefore the bill has been sent to a parliamentary committee. “Data is the buzzword today because people have realized that data can be monetized,” he added. The bill was presented to Lok Sabha in February and was referred to a joint parliamentary committee of the two houses, headed by BJP MP Meenakshi Lekhi. The plan approved by Cabinet in December requires the storage of critical data of individuals by Internet companies in the country. Sensitive data can only be transferred abroad after the explicit consent of the data owner. Critical data will be defined by the government from time to time. The data related to health, religious or political orientation, biometrics, genetics, sexual orientation, health, finances, among others, have been identified as sensitive data.

News Highlights:
  • Retired judge BN Srikrishna said on Thursday that anonymous data is not infallible and may be de-anonymized in the future. The government, in the Personal Data Protection Bill, has promoted the processing of anonymous data to protect the privacy of individuals.
  • No foolproof anonymity: Judge Srikrishna on data protection

Business Dunia |

Consent of Individual rock bottom of the Data Protection: Justice BN Srikrishna

Justice BN Srikrishna, Chairman, FSLRC, Indian Jurist & Retired Judge, Supreme Court of India today said that in the triangular forces, the citizen is the most important factor. The State and businesses exist only because of citizens and not vice-versa, he added.

Addressing a FICCI webinar on the Data Protection Bill, Justice Srikrishna, said that individual consent must be given greater importance while using data by the companies. Protecting the privacy of the individual cannot be compromised at any cost. “Consent is the rock bottom of everything. The purpose of the Data Protection Bill is to provide for the protection of privacy of individuals relating to their Personal Data,” he said.

The right of the state must be considered so that the state is in a position to make sure that a citizen’s rights are protected. “A fundamental right cannot be abridged except by a parliament enacted law. The executive orders cannot abridge a fundamental right without a warrant of authority from parliament,” said Justice Srikrishna.

Elaborating further, Justice Srikrishna said that the privacy of personal data is a fundamental right. The law must declare the objective and it must also have a rational connection between the law and the objective. “Community-generated data is input by citizens themselves,” he added.

Speaking at the webinar, Mr Ullas Kamath, Chairman, FICCI Karnataka State council observed that data has become the source of business decision making and there is a need for new thinking and new concepts to structure an interdisciplinary discussion while formulating approaches that ensure the protection of personal data as well as innovation in service and policy development.

The webinar was also addressed by Dr Akhil Prasad, Country Counsel, India, Boeing India Pvt Ltd; Mr Kumar KV, Group Head, IT, Narayana Health; Mr Lakshminarayanan R, Director & Head IPR, Samsung R&D India.

Latest LY |

No Foolproof Anonymity: Justice Srikrishna on Data Protection

Retired Justice B N Srikrishna on Thursday said anonymous data is not foolproof and can be de-anonymised in future.

Legislation can only make entities de-anonymising the data answerable to the law, he added.

Justice Srikrishna headed the committee on framing data protection norms, set up by the Ministry of Electronics and IT.

The government in the draft personal data protection bill has favoured processing of anonymous data to protect privacy of individuals.

He further said the personal data protection bill is before a joint parliamentary committee and it will be good if it comes out soon.

"What is thought to be anonymous can be de-anonymised tomorrow. Therefore, there is no foolproof anonymity. All that law can say is take it as anonymous, if you do de-anonymity, identify the person, then you will be answerable to the law," Justice Srikrishna said at a FICCI event.

The draft of the personal data protection bill, approved by the Cabinet in December 2019, proposes a penalty of up to Rs 15 crore and up to three-year jail term for company executives for violating privacy norms.

Justice Srikrishna said that he sees a triangle of forces where citizens are at the apex, state on one side and on the third side is trade and business.

"We have to find resultant in the forces of the triangle which will take forward the society and not scuttle either progress or individual rights," he added.

In response to a query, he said the data protection issue is too complex and therefore the bill has been sent to a parliamentary committee.

"Data is the buzzword today because people have realised that the data can be monetised," he added.

The bill was introduced in the Lok Sabha in February and has been referred to a Joint Parliamentary Committee of both the Houses, headed by BJP MP Meenakshi Lekhi.

The draft approved by the Cabinet in December mandates storage of critical data of individuals by internet companies within the country. Sensitive data can be transferred overseas only after explicit consent of the data owner.

Critical data will be defined by the government from time to time. Data related to health, religious or political orientation, biometrics, genetic, sexual orientation, health, finances, among others, have been identified as sensitive data.

Outlook |

No foolproof anonymity: Justice Srikrishna on data protection

Retired Justice B N Srikrishna on Thursday said anonymous data is not foolproof and can be de-anonymised in future.

Legislation can only make entities de-anonymising the data answerable to the law, he added.

Justice Srikrishna headed the committee on framing data protection norms, set up by the Ministry of Electronics and IT.

The government in the draft personal data protection bill has favoured processing of anonymous data to protect privacy of individuals.

He further said the personal data protection bill is before a joint parliamentary committee and it will be good if it comes out soon.

"What is thought to be anonymous can be de-anonymised tomorrow. Therefore, there is no foolproof anonymity. All that law can say is take it as anonymous, if you do de-anonymity, identify the person, then you will be answerable to the law," Justice Srikrishna said at a FICCI event.

The draft of the personal data protection bill, approved by the Cabinet in December 2019, proposes a penalty of up to Rs 15 crore and up to three-year jail term for company executives for violating privacy norms.

Justice Srikrishna said that he sees a triangle of forces where citizens are at the apex, state on one side and on the third side is trade and business.

"We have to find resultant in the forces of the triangle which will take forward the society and not scuttle either progress or individual rights," he added.

In response to a query, he said the data protection issue is too complex and therefore the bill has been sent to a parliamentary committee.

"Data is the buzzword today because people have realised that the data can be monetised," he added.

The bill was introduced in the Lok Sabha in February and has been referred to a Joint Parliamentary Committee of both the Houses, headed by BJP MP Meenakshi Lekhi.

The draft approved by the Cabinet in December mandates storage of critical data of individuals by internet companies within the country. Sensitive data can be transferred overseas only after explicit consent of the data owner.

Critical data will be defined by the government from time to time. Data related to health, religious or political orientation, biometrics, genetic, sexual orientation, health, finances, among others, have been identified as sensitive data.

Business Standard |

Centre may allow cooperative banks to lend under Emergency Credit Line

As the Emergency Credit Line Guarantee Scheme, specially formed for MSMEs, progresses, the government is considering allowing cooperative banks to lend under it too.

Addressing a webinar at the 'FICCI-SBI Atmanirbhar MSME Virtual Conclave', Micro, Small and Medium Industries Minister Nitin Gadkari said that the government is discussing the matter with the Reserve Bank of India (RBI).

"Cooperative banks that are not included as a member lending institutions under the Emergency Credit Line Guarantee Scheme (ECLGS) will be included as lenders for MSMEs, under a scheme being discussed in consultation with the RBI," a FICCI statement quoted Gadkari as saying.

He also urged the states to release payments due to MSMEs within 45 days, as "this will help bring liquidity, which will accelerate the economic growth of the country".

Gadkari emphasised that special focus towards export enhancement is the need of the hour, and there is also a need to focus on import substitution to replace imports with domestic production.

He also urged the industry to identify the sectors heavily reliant on imports, particularly from China, and look for substitutes towards indigenous production to make India self-reliant.

Gadkari also said that the government aims to increase MSMEs' contribution to the GDP to 50 per cent and in share of exports to 60 per cent, which would help the sector create 5 crore jobs in the next five years.

"The government is formulating a special policy to generate employment in the rural areas and aims to increase the turnover of village industries and encourage medium scale units such as ago and food processing industries, handloom, and handicrafts," he said.

State Bank of India Chairman Rajnish Kumar said that the advancement of digital technology has revolutionised the process of lending to MSMEs as the availability of data and technology in the form of analytics has made it easier to automate lending decisions to the sector.

"We will be using the digital platform in a big way for lending," he said.

Business Today |

SBI Chairman Rajnish Kumar hints Rs 10,000 crore MSME Fund of Funds will be operational soon

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday. The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues.

Talking about various steps taken to help MSMEs, he said banks have announced an emergency credit line for such businesses to improve their liquidity which has been hit by the outbreak of COVID-19. Another liquidity enhancement measure was through support by way of a subordinated debt which was guaranteed by the government for the troubled MSMEs, he said.

"Fund of funds, which I presume would also get operationalised very soon. So these take care from the point of view of finance," he said at a virtual event organised by FICCI. Finance Minister Nirmala Sitharaman in May had announced the Fund of Funds (FOF) will help MSMEs with growth potential and viability even as they face severe shortage of equity.

Moreover, the fund will be operated through a Mother Fund and a few daughter funds to enable MSMEs expand in size and capacity and would also encourage them to list on the main board of stock exchanges, she had said. The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists. The scheme proposes to buy up to 15 per cent growth capital in high credit MSMEs.

Speaking about other initiatives of the bank, the SBI chairman said the bank recently launched a gold loan scheme for MSMEs and sanctioned Rs 88 crore under this product within one month. "In a way it is monetization on the ideal gold at least for businesses...safety of your jewellery we are ensuring you don't have to even pay locker and this product has received very good traction and we are planning to further build up this product," he added.

Business World |

Cooperative banks likely to be included as lenders under ECLGS Scheme; Govt. aims to increase MSMEs' contribution to 50% of GDP

Mr Nitin Gadkari, Minister of MSME and Road Transport and Highways & Shipping, Govt of India, today said, “Cooperative banks that are not included as a member lending institution under the Emergency Credit Line Guarantee Scheme (ECLGS) will be included as lenders for MSMEs, under a scheme being discussed in consultation with the RBI.”

Addressing a webinar on ‘FICCI-SBI Atmanirbhar MSME Virtual Conclave’, Mr Gadkari urged the states to release payments due to micro, small and medium enterprises (MSMEs) within 45 days. “This will help bring liquidity, which will accelerate the economic growth of the country,” he said.

The minister emphasised that special focus towards export enhancement is the need of the hour, and there is also a need to focus on import substitution to replace imports with domestic production. He further urged the industry to identify the sectors heavily reliant on imports, particularly from China, and look for substitutes towards indigenous production to make India Atma Nirbhar.

He added that the government aims to increase MSMEs’ contribution to 50% of GDP and share of exports to 60% which help the sector create 50 million jobs in the next five years. Mr Gadkari said, “The government is formulating a special policy to generate employment in the rural areas and aims to increase the turnover of village industries and encourage medium scale units such as ago and food processing industries, handloom, and handicrafts.”

Mr Jagadish Shettar, Minister of Medium & Large-Scale Industries, Govt of Karnataka said, “The new Industrial policy of the Karnataka State Government for 2020-25 will be pro-industry and aligned with reshaped reforms.” Highlighting that Karnataka is a conducive place for industries to grow, he said that the state provides the right infrastructure support across industries, and the reforms by the government of India will provide the much-needed support to the MSME sector.

“Home to several industry specific SEZs and innovation parks, Karnataka also provides the right kind of infrastructural support, across industries. A robust supply chain network ensures resources are never a problem. The cluster-based development approach unveiled by the state would give much needed economies of scale for companies who would like to invest in selected sector. The FMCG cluster, the defence cluster etc are going to have great impact in the industrial development of the state” said Mr Shettar.

We are hopeful that the state policies along with the series of historic measures brought out by the Government of India would help the industry and particularly the MSME sector with several important support schemes. The Atma Nirbhar schemes have brought back the much needed momentum to the manufacturing process and we are certain that in the coming period as we come out of the current crisis, the economy would be able to bounce back with robust growth and momentum.

Mr Rajnish Kumar, Chairman, State Bank of India, said, “The advancement of digital technology has revolutionised the process of lending to MSMEs as the availability of data and technology in the form of analytics has made it easier to automate lending decisions to the sector, which until now posed challenges.” We will be using the digital platform in a big way for lending, he added.

Mr Kumar said, “To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds is formed as a part of Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package and this scheme will be operational soon.”

Speaking about the various steps taken to help MSMEs, he said SBI announced an emergency credit line for MSMEs to improve their liquidity which has been hit by the outbreak of COVID-19.The SBI chairman said the bank recently launched a gold loan scheme for MSMEs and sanctioned Rs 88 crore under this product within one month.

Mr Uday Shankar Sr Vice President FICCI said, “We are heartened by the fact that Mr Nitin Gadkari has committed to increasing the share of the MSME sector to 50% in India’s GDP.” He also requested the Minister to allow the smaller cinema halls to function with 50% occupancy and urged for a special support package to develop import substitution units targeting the MSME sector.

Mr Ullas Kamath, Chairman, FICCI Karnataka State Council and Joint Managing Director of Jyothi Labs Ltd said that the industrial policy of Karnataka announced recently has unique and liberal measures which will investors easy access to land and infrastructure for investments.

He said that the much-awaited policy has several unique and innovative features which will lead to next level of Investment and growth in the state of Karnataka. He observed that with the turnover based incentives system proposed in the new policy, will help to attract more investments from the MSME sector.

Several pro-active measures taken by the government of Karnataka in the recent past; particularly the amendment of Land reforms act, the labour act, and the Karnataka Industries (Amendment) act are helpful to augment substantial investments.

SME Times |

Govt, RBI discussing on allowing co-op banks to lend under ECLGS

As the Emergency Credit Line Guarantee Scheme, specially formed for MSMEs, progresses, the government is considering allowing cooperative banks to lend under it too.

Addressing a webinar at the 'FICCI-SBI Atmanirbhar MSME Virtual Conclave', Micro, Small and Medium Industries Minister Nitin Gadkari said that the government is discussing the matter with the Reserve Bank of India (RBI).

"Cooperative banks that are not included as a member lending institutions under the Emergency Credit Line Guarantee Scheme (ECLGS) will be included as lenders for MSMEs, under a scheme being discussed in consultation with the RBI," a FICCI statement quoted Gadkari as saying.

He also urged the states to release payments due to MSMEs within 45 days, as "this will help bring liquidity, which will accelerate the economic growth of the country".

Gadkari emphasised that special focus towards export enhancement is the need of the hour, and there is also a need to focus on import substitution to replace imports with domestic production.

He also urged the industry to identify the sectors heavily reliant on imports, particularly from China, and look for substitutes towards indigenous production to make India self-reliant.

Gadkari also said that the government aims to increase MSMEs' contribution to the GDP to 50 per cent and in share of exports to 60 per cent, which would help the sector create 5 crore jobs in the next five years.

"The government is formulating a special policy to generate employment in the rural areas and aims to increase the turnover of village industries and encourage medium scale units such as ago and food processing industries, handloom, and handicrafts," he said.

State Bank of India Chairman Rajnish Kumar said that the advancement of digital technology has revolutionised the process of lending to MSMEs as the availability of data and technology in the form of analytics has made it easier to automate lending decisions to the sector.

"We will be using the digital platform in a big way for lending," he said.

Buziness Bytes |

Centre may allow cooperative banks to lend under ECLGS

As the Emergency Credit Line Guarantee Scheme, specially formed for MSMEs, progresses, the government is considering allowing cooperative banks to lend under it too.

Addressing a webinar at the ‘FICCI-SBI Atmanirbhar MSME Virtual Conclave’, Micro, Small and Medium Industries Minister Nitin Gadkari said that the government is discussing the matter with the Reserve Bank of India (RBI).

“Cooperative banks that are not included as a member lending institutions under the Emergency Credit Line Guarantee Scheme (ECLGS) will be included as lenders for MSMEs, under a scheme being discussed in consultation with the RBI,” a FICCI statement quoted Gadkari as saying.

He also urged the states to release payments due to MSMEs within 45 days, as “this will help bring liquidity, which will accelerate the economic growth of the country”.

Gadkari emphasised that special focus towards export enhancement is the need of the hour, and there is also a need to focus on import substitution to replace imports with domestic production.

He also urged the industry to identify the sectors heavily reliant on imports, particularly from China, and look for substitutes towards indigenous production to make India self-reliant.

The Statesman |

Centre may allow cooperative banks to lend under ECLGS

As the Emergency Credit Line Guarantee Scheme, specially formed for MSMEs, progresses, the government is considering allowing cooperative banks to lend under it too.

Addressing a webinar at the ‘FICCI-SBI Atmanirbhar MSME Virtual Conclave’, Micro, Small and Medium Industries Minister Nitin Gadkari said that the government is discussing the matter with the Reserve Bank of India (RBI).

“Cooperative banks that are not included as a member lending institutions under the Emergency Credit Line Guarantee Scheme (ECLGS) will be included as lenders for MSMEs, under a scheme being discussed in consultation with the RBI,” a FICCI statement quoted Gadkari as saying.

He also urged the states to release payments due to MSMEs within 45 days, as “this will help bring liquidity, which will accelerate the economic growth of the country”.

Gadkari emphasised that special focus towards export enhancement is the need of the hour, and there is also a need to focus on import substitution to replace imports with domestic production.

He also urged the industry to identify the sectors heavily reliant on imports, particularly from China, and look for substitutes towards indigenous production to make India self-reliant.

Gadkari also said that the government aims to increase MSMEs’ contribution to the GDP to 50 per cent and in share of exports to 60 per cent, which would help the sector create 5 crore jobs in the next five years.

“The government is formulating a special policy to generate employment in the rural areas and aims to increase the turnover of village industries and encourage medium scale units such as ago and food processing industries, handloom, and handicrafts,” he said.

State Bank of India Chairman Rajnish Kumar said that the advancement of digital technology has revolutionised the process of lending to MSMEs as the availability of data and technology in the form of analytics has made it easier to automate lending decisions to the sector.

“We will be using the digital platform in a big way for lending,” he said.

CNBC TV18 |

Gadkari urges Amazon to help MSMEs; seeks Rs 5 lakh crore export push over next 2 years

MSME Minister Nitin Gadkari on Monday said the government is engaging with global e-commerce giant Amazon to increase the export of goods made by the industry to Rs 5 lakh crores in two years.

“Ten days back I had a video conference with Amazon, and their export from Indian MSME is Rs 60,000 crores. I requested them to make it Rs 5 lakh crores within 2 years,” the minister said while addressing the SBI-FICCI AtmaNirbhar MSME Conclave this afternoon.

“Our first priority is getting investments in the MSME sector,” Nitin Gadkari said, adding that the various schemes announced under government’s Atama Nirbhar Bharat package have brought a lot of relief for the industry already.

“Almost Rs 1.20 lakh crores disbursement has taken place under the Emergency Credit Line Guarantee Scheme (ECLGS) so far,” he said.

Uday Shankar, Senior Vice President of FICCI and Asia Pacific President of The Walt Disney Company, raised an issue about co-operative banks not being allowed to participate under the Rs 3 lakh crore MSME credit guarantee scheme. Shankar said a lot of MSMEs raise funds from co-operative banks who are not listed as lenders under the scheme. To this, the MSME Minister said co-operative banks were not included as lender institutions under ECLGS due to dual regulation and supervision issues, but the Finance Ministry was already in the process of collecting data from them to consider their inclusion.

Speaking about the issue of delayed payments to the micro, small and medium enterprises (MSME) industry, Gadkari said the government has now given orders to all public undertakings to ensure they clear such dues within 45 days' time.

“MSME sector has received its due share in the government’s Rs 20 lakh crore Atma Nirbhar Bharat package,” noted Rajnish Kumar, Chairman of State Bank of India, adding that the bank has been at the forefront of lending to MSMEs. “The old way of lending is undergoing a big change,” Kumar said, noting that banks are using digital technology in a big way to lend now. The SBI Chairman said that the bank has placed officers in charge of specific geographies across its 90 zones in the country to specifically focus on this sector.

State Bank of India is the largest lender under the government’s ECLGS and has sanctioned over Rs 21,000 crores of loans under the scheme so far. Rajnish Kumar added that SBI has had a history of lending to small businesses that have now become large corporations and would continue to support MSMEs.

CNBC TV18 |

SBI Chairman: Rs 10,000 cr Fund of Funds for MSMEs to be operational soon

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday.

The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues. Talking about various steps taken to help MSMEs, he said banks have announced an emergency credit line for such businesses to improve their liquidity which has been hit by the outbreak of COVID-19.

Another liquidity enhancement measure was through support by way of a subordinated debt which was guaranteed by the government for the troubled MSMEs, he said. "Fund of funds, which I presume would also get operationalised very soon. So these take care from the point of view of finance," he said at a virtual event organised by FICCI.

Finance Minister Nirmala Sitharaman in May had announced the Fund of Funds (FOF) will help MSMEs with growth potential and viability even as they face severe shortage of equity. Moreover, the fund will be operated through a Mother Fund and a few daughter funds to enable MSMEs expand in size and capacity and would also encourage them to list on the main board of stock exchanges, she had said.

The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists. The scheme proposes to buy up to 15 percent growth capital in high credit MSMEs.

Speaking about other initiatives of the bank, the SBI chairman said the bank recently launched a gold loan scheme for MSMEs and sanctioned Rs 88 crore under this product within one month.

"In a way it is monetization on the ideal gold at least for businesses...safety of your jewellery we are ensuring you don't have to even pay locker and this product has received very good traction and we are planning to further build up this product," he added.

India TV |

Rs 10,000 crore Fund of Funds for MSMEs to be operational soon: SBI Chairman

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday. The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues.

Talking about various steps taken to help MSMEs, he said banks have announced an emergency credit line for such businesses to improve their liquidity which has been hit by the outbreak of COVID-19.

Another liquidity enhancement measure was through support by way of a subordinated debt which was guaranteed by the government for the troubled MSMEs, he said.

"Fund of funds, which I presume would also get operationalised very soon. So these take care from the point of view of finance," he said at a virtual event organised by FICCI.

Finance Minister Nirmala Sitharaman in May had announced the Fund of Funds (FOF) will help MSMEs with growth potential and viability even as they face severe shortage of equity.

Moreover, the fund will be operated through a Mother Fund and a few daughter funds to enable MSMEs expand in size and capacity and would also encourage them to list on the main board of stock exchanges, she had said.

The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists. The scheme proposes to buy up to 15 per cent growth capital in high credit MSMEs.

Speaking about other initiatives of the bank, the SBI chairman said the bank recently launched a gold loan scheme for MSMEs and sanctioned Rs 88 crore under this product within one month.

"In a way it is monetization on the ideal gold at least for businesses...safety of your jewellery we are ensuring you don't have to even pay locker and this product has received very good traction and we are planning to further build up this product," he added.

Zee Business |

Rs 10,000 cr Fund of Funds for MSMEs to be operational soon: SBI Chairman

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday.

The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues.

Talking about various steps taken to help MSMEs, he said banks have announced an emergency credit line for such businesses to improve their liquidity which has been hit by the outbreak of COVID-19.

Another liquidity enhancement measure was through support by way of a subordinated debt which was guaranteed by the government for the troubled MSMEs, he said.

"Fund of funds, which I presume would also get operationalised very soon. So these take care from the point of view of finance," he said at a virtual event organised by FICCI.

Finance Minister Nirmala Sitharaman in May had announced the Fund of Funds (FOF) will help MSMEs with growth potential and viability even as they face severe shortage of equity.

Moreover, the fund will be operated through a Mother Fund and a few daughter funds to enable MSMEs expand in size and capacity and would also encourage them to list on the main board of stock exchanges, she had said.

The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists. The scheme proposes to buy up to 15 per cent growth capital in high credit MSMEs.

Speaking about other initiatives of the bank, the SBI chairman said the bank recently launched a gold loan scheme for MSMEs and sanctioned Rs 88 crore under this product within one month.

"In a way it is monetization on the ideal gold at least for businesses...Safety of your jewellery we are ensuring you don't have to even pay locker and this product has received very good traction and we are planning to further build up this product," he added.

Deccan Herald |

Working on idea of land bank, social microfinance institution to help small businesses: Nitin Gadkari

Union Minister Nitin Gadkari on Monday said the government is working on the idea of a land bank and a social microfinance institution to help people run small shops and businesses.

Addressing a virtual MSME conclave organised by the FICCI Karnataka State Council, the minister also said there is a need to think on how India can increase exports and reduce import dependence.

Speaking about Chinese exports, Gadkari said 30 per cent of the entire global manufacturing is based in China and there are 10 major export categories that comprise 70 per cent of its overall exports, including fields like electrical machinery and equipment.

"Now, this is the time...we should identify which are the fields where we can make import substitution, how we can develop the MSMEs and the industry by which we can take advantage of the economic situation in the world," said Gadkari, who is also the road transport and highways minister.

During the webinar, the minister suggested that to make India a super economic power, "we have to think in the direction of how to increase exports from areas like agriculture, agro processing industries, handloom, handicraft, khadi and village industries".

The minister told the participants that "we are working on the idea of a land bank and social microfinance institution which will be very helpful for entrepreneurs and persons who want to run small shops and businesses".

While discussing the Atmanirbhar Bharat Abhiyan as envisaged by Prime Minister Narendra Modi, he said handloom, handicrafts, khadi industries and agro-based industries should be encouraged, especially in 115 aspirational districts. "We will have to plan special policies for agricultural, rural and tribal sector because they have huge potential of creating employment."

Gadkari further said loans of about Rs 1,20,000 crore have been disbursed to MSMEs out of the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS).

Quoting from a letter by Finance Minister Nirmala Sitharaman, Gadkari said she has explained that due to dual regulation and supervision, cooperative banks are currently not included as a member lending institution under ECLGS.

"However, data regarding their financial position is being collected from scheduled state cooperative banks and urban cooperative banks for considering their inclusion as a member lending institution under the scheme in consultation with RBI depending upon the availability of headroom under the scheme," Sitharaman said in the letter, as quoted by Gadkari.

Gadkari said he feels headroom should not be a problem as disbursement of just Rs 1.20 lakh crore has taken place till now out of Rs 3 lakh crore.

"So, I don't feel (there is) a problem of availability of headroom under the scheme. So, this is under consideration and I am expecting that the finance minister will take appropriate decision as early as possible," he said.

Announced as part of the Rs 20-lakh crore government economic package to tackle the impact of COVID-19, the Rs 3 lakh crore MSME credit guarantee scheme was titled ECLGS.

He also expressed confidence that recent steps taken by the government to give relief to MSMEs will "accelerate the wheel of economy", and urged all chief ministers to issue directions for clearing MSME dues by their ministries/departments and public sector units on priority.

Further, he asked all the stakeholders to do away with all kinds of fear and negativity and assured that the government is doing everything possible to make the country a super economic power.

Outlook |

Rs 10,000 cr Fund of Funds for MSMEs to be operational soon: SBI Chairman

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday. The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues. Talking about various steps taken to help MSMEs, he said banks have announced an emergency credit line for such businesses to improve their liquidity which has been hit by the outbreak of COVID-19. Another liquidity enhancement measure was through support by way of a subordinated debt which was guaranteed by the government for the troubled MSMEs, he said. "Fund of funds, which I presume would also get operationalised very soon. So these take care from the point of view of finance," he said at a virtual event organised by FICCI. Finance Minister Nirmala Sitharaman in May had announced the Fund of Funds (FOF) will help MSMEs with growth potential and viability even as they face severe shortage of equity. Moreover, the fund will be operated through a Mother Fund and a few daughter funds to enable MSMEs expand in size and capacity and would also encourage them to list on the main board of stock exchanges, she had said. The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists. The scheme proposes to buy up to 15 per cent growth capital in high credit MSMEs. Speaking about other initiatives of the bank, the SBI chairman said the bank recently launched a gold loan scheme for MSMEs and sanctioned Rs 88 crore under this product within one month. "In a way it is monetization on the ideal gold at least for businesses...safety of your jewellery we are ensuring you don't have to even pay locker and this product has received very good traction and we are planning to further build up this product," he added.

AIR News |

Recent steps taken by govt to give relief to MSMEs will accelerate wheel of economy: Nitin Gadkari

Minister of Micro, Small and Medium Enterprises, MSME, Nitin Gadkari has said that the recent steps taken by the government to give relief to MSMEs will accelerate the wheel of economy.

He said, changing the definition of MSMEs, Scheme of Fund of Funds, Champions portal, extended credits to MSMEs will certainly accelerate the economy which had slowed down due to lockdown in the wake of Pandemic.

Addressing a Virtual MSME Conclave organized by FICCI, Mr Gadkari said, loans of about one lakh 20 thousand crore rupees have been disbursed to MSMEs out of three lakh crore rupees announced in the relief package.

He said that instructions have been given to all Ministries, Departments and PSUs to clear pending bills of MSMEs within 45 days.

The Minister also urged all Chief Ministers to issue directions for clearing MSME dues by their State and Union Territories on priority.

Northeast Today |

Rs 10,000 crore Fund of Funds for MSMEs to be operational soon: SBI Chairman

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday. The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues.

Talking about various steps taken to help MSMEs, he said banks have announced an emergency credit line for such businesses to improve their liquidity which has been hit by the outbreak of COVID-19.

Another liquidity enhancement measure was through support by way of a subordinated debt which was guaranteed by the government for the troubled MSMEs, he said.

“Fund of funds, which I presume would also get operationalised very soon. So these take care from the point of view of finance,” he said at a virtual event organised by FICCI.

Finance Minister Nirmala Sitharaman in May had announced the Fund of Funds (FOF) will help MSMEs with growth potential and viability even as they face severe shortage of equity.

Moreover, the fund will be operated through a Mother Fund and a few daughter funds to enable MSMEs expand in size and capacity and would also encourage them to list on the main board of stock exchanges, she had said.

The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists. The scheme proposes to buy up to 15 per cent growth capital in high credit MSMEs.

Speaking about other initiatives of the bank, the SBI chairman said the bank recently launched a gold loan scheme for MSMEs and sanctioned Rs 88 crore under this product within one month.

“In a way it is monetization on the ideal gold at least for businesses…safety of your jewellery we are ensuring you don’t have to even pay locker and this product has received very good traction and we are planning to further build up this product,” he added.

KNN |

Gadkari urges all state CMs & PSUs to clear pending dues of MSMEs

Union Minister of Micro, Small and Medium Enterprises, Nitin Gadkari on Monday urged all Chief Ministers to direct officials concerned and departments to clear pending dues of MSME by their state, Union Territories (UT) and Public Sector Undertakings (PSUs) at earliest.

While addressing a Virtual MSME Conclave organized by FICCI Karnataka State Council, Gadkari said,'' instructions have been given to all Ministries, Departments and PSUs to clear pending bills of MSMEs within 45 days.''

The Minister added that we are closely monitoring the complaints lodged at SAMADHAN Portal also.

Lauding the various initiatives taken by the government such as changing the definition of MSMEs, Scheme of Fund of Funds, Champions portal, extended credits to MSMEs, the Minister said that it would certainly accelerate the wheels of economy which had slowed down due to lockdown in the wake of Pandemic.

He also appealed to all the stakeholders to do away with all kinds of fear and negativity and assured that the government is doing everything possible to make the country a super economic power.

''Loans of about Rs. 1,20,000 crore have been disbursed to MSMEs out of Rs 3 lakh crore announced in the relief package,'' Gadkari informed.

''We are working on the idea of a land bank and social micro finance institution which will be very helpful for entrepreneurs and persons who want to run small shops and businesses,'' he avowed.

While discussing Atmanirbhar Bharat Abhiyan as envisaged by the Prime Minister, he said that handloom, handicrafts, khadi industries and agro-based industries should be encouraged especially in 115 aspirational districts.

We will have to plan special policies for the agricultural, rural and tribal sector because they have huge potential of creating employment, he said.

Meanwhile, addressing the Bhartiya Udyog Vyapar Mandal on 39th Rashtriya Vyapari Diwas via video conference today, Gadkari said that experts have predicted that the Centre and state govts may face a budget deficit of Rs 10 lakh crore.

The minister said that investors across the world realise that India can provide the best returns to them and added that when foreign investments come in, it will also help improve the job situation in the country.

''The situation can only get better when people’s purchasing power increases. ‘Like if a farmer does not have money then how will he buy a motorcycle, how will he use petrol or spend on hotel or a restaurant, or buy new clothes. So, capital should reach the poor people,’ Gadkari added.

News Bharati |

'Rs 1.2 Lakh Crore disbursed to MSMEs from relief package' says Nitin Gadkari

Union Minister for Micro, Small and Medium Enterprises Nitin Gadkari said that the changing the definition of MSMEs, Scheme of Fund of Funds, Champions portal, extended credits to MSMEs will certainly accelerate the wheels of economy which had slowed down due to lockdown in the wake of the coronavirus pandemic. He said this today while addressing a Virtual MSME Conclave organized by FICCI Karnataka State Council.
Appealing to all the stakeholders to do away with all kinds of fear and negativity, the Minister assured that the government is doing everything possible to make the country a super economic power. He further informed that loans of about Rs. 1,20,000 crore have been disbursed to MSMEs out of Rs. 3 lakh crore announced in the relief package.
In May, the Union Cabinet had approved additional funding of up to ₹3 lakh crore to micro, small and medium enterprises (MSME) that was announced by Finance Minister Nirmala Sitharaman as part of the ₹20 lakh crore economic package.
Discussing the problem of delayed payments, he said that instructions have been given to all Ministries, Departments, and PSUs to clear pending bills of MSMEs within 45 days. He also urged all Chief Ministers to issue directions for clearing MSME dues by their State/UT Ministries/Deptts and PSUs on priority. The Minister added that we are closely monitoring the complaints lodged at SAMADHAN Portal also.
The Minister informed the participants of the webinar that we are working on the idea of a Land Bank and Social Micro Finance Institution which will be very helpful for entrepreneurs and persons who want to run small shops and businesses.
While discussing Atmanirbhar Bharat Abhiyan as envisaged by Prime Minister, he said that handloom, handicrafts, khadi industries, and agro-based industries should be encouraged especially in 115 aspirational districts. We will have to plan special policies for the agricultural, rural, and tribal sectors because they have a huge potential for creating employment.
Minister from Karnataka Government Jagdish Shettar, SBI Chairman, and members of FICCI participated in the webinar.

Indian Patrika |

Fund of Funds for Rs 50,000 crore equity infusion in MSMEs to be operational soon: SBI's Rajnish Kumar

The Fund of Funds for MSMEs will be set-up with a corpus of Rs 10,000 crore.

Credit and Finance for MSMEs: The Fund of Funds announced by the Finance Minister Nirmala Sitharaman in May as part of the Atmanirbhar Bharat initiative to infuse Rs 50,000 equity in MSMEs is likely to be operationalised soon, according to State Bank of India (SBI) Chairman Rajnish Kumar. Highlighting the support offered by banks to help Covid-hit MSMEs recover, Kumar said, “one is the immediate help for improving the liquidity of MSMEs; second, about the unit (if) in trouble then support by way of subordinated debt which is guaranteed by the government and third is Fund of Funds which I presume would also get operationalised very soon.” He was addressing the virtual MSME Conclave on Monday organised FICCI Karnataka State Council.

The fund set-up with a corpus of Rs 10,000 crore was approved by the Cabinet in June along with the revision in the definition of MSMEs. The fund “will benefit over 25 lakh MSMEs under stress,” MSME Minister Nitin Gadkari had said in a statement in May. The fund is expected to encourage MSMEs to list on the main board of the stock exchanges with the equity infusion. Finance Minister Nirmala Sitharaman had announced Rs 3.7 lakh crore stimulus package in May that also included the Rs 3 lakh crore emergency credit scheme and Rs 20,000 crore subordinated debt for stressed MSMEs.

Hailing SBI’s support towards MSMEs during the Covid pandemic, Kumar said that “as far as MSME lending is concerned, we are at the forefront. When Covid happened, SBI was the first bank that immediately on the same day announced Covid emergency credit line which became the model for all other banks to adopt. Key element for the Covid credit line was that the delegation of financial power was given to all our local functionaries so that there are no hassles.”

Under the emergency credit scheme, which has already seen disbursal of over Rs 92k crore to more than 21.78 lakh MSME accounts, the maximum share of disbursement of more than Rs 16k crore is of SBI as of August 3, 2020, according to the data tweeted by Sitharaman’s office. In terms of the number of accounts disbursed, Canara Bank leads with nearly 3.60 lakh accounts followed by close to 3 lakh accounts disbursed by SBI.

Devdiscourse |

Rs 10,000 cr Fund of Funds for MSMEs to be operational soon: SBI Chairman

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday. The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues.

Talking about various steps taken to help MSMEs, he said banks have announced an emergency credit line for such businesses to improve their liquidity which has been hit by the outbreak of COVID-19. Another liquidity enhancement measure was through support by way of a subordinated debt which was guaranteed by the government for the troubled MSMEs, he said.

"Fund of funds, which I presume would also get operationalised very soon. So these take care from the point of view of finance," he said at a virtual event organised by FICCI. Finance Minister Nirmala Sitharaman in May had announced the Fund of Funds (FOF) will help MSMEs with growth potential and viability even as they face severe shortage of equity.

Moreover, the fund will be operated through a Mother Fund and a few daughter funds to enable MSMEs expand in size and capacity and would also encourage them to list on the main board of stock exchanges, she had said. The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists. The scheme proposes to buy up to 15 per cent growth capital in high credit MSMEs.

Speaking about other initiatives of the bank, the SBI chairman said the bank recently launched a gold loan scheme for MSMEs and sanctioned Rs 88 crore under this product within one month. "In a way it is monetization on the ideal gold at least for businesses...safety of your jewellery we are ensuring you don't have to even pay locker and this product has received very good traction and we are planning to further build up this product," he added..

Yahoo News |

Rs 10,000 cr Fund of Funds for MSMEs to be operational soon: SBI Chairman

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday.

The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues.

Talking about various steps taken to help MSMEs, he said banks have announced an emergency credit line for such businesses to improve their liquidity which has been hit by the outbreak of COVID-19.

Another liquidity enhancement measure was through support by way of a subordinated debt which was guaranteed by the government for the troubled MSMEs, he said.

'Fund of funds, which I presume would also get operationalised very soon. So these take care from the point of view of finance,' he said at a virtual event organised by FICCI.

Finance Minister Nirmala Sitharaman in May had announced the Fund of Funds (FOF) will help MSMEs with growth potential and viability even as they face severe shortage of equity.

Moreover, the fund will be operated through a Mother Fund and a few daughter funds to enable MSMEs expand in size and capacity and would also encourage them to list on the main board of stock exchanges, she had said.

The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists. The scheme proposes to buy up to 15 per cent growth capital in high credit MSMEs.

Speaking about other initiatives of the bank, the SBI chairman said the bank recently launched a gold loan scheme for MSMEs and sanctioned Rs 88 crore under this product within one month.

'In a way it is monetization on the ideal gold at least for businesses...safety of your jewellery we are ensuring you don't have to even pay locker and this product has received very good traction and we are planning to further build up this product,' he added.

The Economic Times |

Govt likely to allow co-op banks to lend under MSME Emergency Credit Guarantee Scheme

The government is looking to make urban co-operative banks eligible to lend under the Rs 3 lakh crore emergency credit line guarantee scheme (ECLGS) for micro, small and medium businesses (MSMES), introduced under the government’s atma nirbhar bharat package.

The finance ministry is considering the move, and a decision in this regard is likely soon, Union minister for MSMEs and road transport and highways Nitin Gadkari has said.

Due to dual regulation and supervision, cooperative banks are not included as member lending institutions under the ECLGS, Gadkari said at the FICCI-SBI Atmanirbhar MSME Virtual Conclave on Monday.

Gadkari quoted a ministry of corporate affairs letter, stating that “data regarding their financial position is being collected from scheduled State cooperative banks and urban cooperative banks for considering their inclusion as a member lending institution under the scheme in consultation with RBI depending upon the headroom available in the scheme.”

Gadkari said that the headroom should not be an issue since the 3 lakh crore scheme has seen less than half the amount disbursed so far. “Regarding the headroom I don’t think this is a problem because out of Rs 3 lakh crore, up till now there is only disbursement of Rs 1.2 lakh crore,” Gadkari said.

Under the Scheme, 100% guarantee coverage is to be provided by National Credit Guarantee Trustee Company Limited (NCGTC) for additional funding of up to Rs. three lakh crore to eligible MSMEs and interested MUDRA borrowers, in the form of a guaranteed emergency credit line (GECL) facility.

Gadkari said that small businesses are not getting finance from banks, and a micro-finance institution to particularly cater to the segment will be established soon.

“We are discussing this and we are going to formulate the policy. It should be free from red-tapism, it should be totally transparent, time bound and result oriented,” Gadkari said. “And anyone who will apply will get the finance within three days. This is the idea,” he added.

Niti Aayog has already been mandated the task to work on one such scheme, Gadkari said.

The Economic Times |

Rs 10,000 crore Fund of Funds for MSMEs to be operational soon: SBI Chairman

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday.

The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues.

Talking about various steps taken to help MSMEs, he said banks have announced an emergency credit line for such businesses to improve their liquidity which has been hit by the outbreak of COVID-19.

Another liquidity enhancement measure was through support by way of a subordinated debt which was guaranteed by the government for the troubled MSMEs, he said.

"Fund of funds, which I presume would also get operationalised very soon. So these take care from the point of view of finance," he said at a virtual event organised by FICCI.

Finance Minister Nirmala Sitharaman in May had announced the Fund of Funds (FOF) will help MSMEs with growth potential and viability even as they face severe shortage of equity.

Moreover, the fund will be operated through a Mother Fund and a few daughter funds to enable MSMEs expand in size and capacity and would also encourage them to list on the main board of stock exchanges, she had said.

The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists. The scheme proposes to buy up to 15 per cent growth capital in high credit MSMEs.

Speaking about other initiatives of the bank, the SBI chairman said the bank recently launched a gold loan scheme for MSMEs and sanctioned Rs 88 crore under this product within one month.

Business Standard |

Rs 10,000 crore Fund of Funds scheme to help MSMEs with growth: SBI chief

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 trillion Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday.

The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues.

Talking about various steps taken to help MSMEs, he said banks have announced an emergency credit line for such businesses to improve their liquidity which has been hit by the outbreak of Covid-19.

Another liquidity enhancement measure was through support by way of a subordinated debt which was guaranteed by the government for the troubled MSMEs, he said.

"Fund of funds, which I presume would also get operationalised very soon. So these take care from the point of view of finance," he said at a virtual event organised by FICCI.

Finance Minister Nirmala Sitharaman in May had announced that the Fund of Funds (FOF) will help MSMEs with growth potential and viability even as they face severe shortage of equity.

Moreover, the fund will be operated through a Mother Fund and a few daughter funds to enable MSMEs expand in size and capacity and would also encourage them to list on the main board of stock exchanges, she had said.

The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists. The scheme proposes to buy up to 15 per cent growth capital in high credit MSMEs.

Speaking about other initiatives of the bank, the SBI chairman said the bank recently launched a gold loan scheme for MSMEs and sanctioned Rs 88 crore under this product within one month.

"In a way it is monetization on the ideal gold at least for businesses...safety of your jewellery we are ensuring you don't have to even pay locker and this product has received very good traction and we are planning to further build up this product," he added.

Financial Express |

Fund of Funds for Rs 50,000 crore equity infusion in MSMEs to be operational soon: SBI's Rajnish Kumar

Credit and Finance for MSMEs: The Fund of Funds announced by the Finance Minister Nirmala Sitharaman in May as part of the Atmanirbhar Bharat initiative to infuse Rs 50,000 equity in MSMEs is likely to be operationalised soon, according to State Bank of India (SBI) Chairman Rajnish Kumar. Highlighting the support offered by banks to help Covid-hit MSMEs recover, Kumar said, “one is the immediate help for improving the liquidity of MSMEs; second, about the unit (if) in trouble then support by way of subordinated debt which is guaranteed by the government and third is Fund of Funds which I presume would also get operationalised very soon.” He was addressing the virtual MSME Conclave on Monday organised FICCI Karnataka State Council.

The fund set-up with a corpus of Rs 10,000 crore was approved by the Cabinet in June along with the revision in the definition of MSMEs. The fund “will benefit over 25 lakh MSMEs under stress,” MSME Minister Nitin Gadkari had said in a statement in May. The fund is expected to encourage MSMEs to list on the main board of the stock exchanges with the equity infusion. Finance Minister Nirmala Sitharaman had announced Rs 3.7 lakh crore stimulus package in May that also included the Rs 3 lakh crore emergency credit scheme and Rs 20,000 crore subordinated debt for stressed MSMEs.

Hailing SBI’s support towards MSMEs during the Covid pandemic, Kumar said that “as far as MSME lending is concerned, we are at the forefront. When Covid happened, SBI was the first bank that immediately on the same day announced Covid emergency credit line which became the model for all other banks to adopt. Key element for the Covid credit line was that the delegation of financial power was given to all our local functionaries so that there are no hassles.”

Under the emergency credit scheme, public and private sector banks have already disbursed over Rs 92k crore to more than 21.78 lakh MSME accounts, as of August 3, 2020. Among the PSBs’ share of over Rs 52k crore disbursed, the maximum contribution of more than Rs 16k crore has been of SBI, according to the data tweeted by Sitharaman’s office. In terms of the number of accounts disbursed, Canara Bank leads with nearly 3.60 lakh accounts followed by close to 3 lakh accounts disbursed by SBI.

Financial Express |

Working on idea of land bank, social microfinance institution to help small businesses: Nitin Gadkari

Union Minister Nitin Gadkari on Monday said the government is working on the idea of a land bank and a social microfinance institution to help people run small shops and businesses. Addressing a virtual MSME conclave organised by the FICCI Karnataka State Council, the minister also said there is a need to think on how India can increase exports and reduce import dependence.

Speaking about Chinese exports, Gadkari said 30 per cent of the entire global manufacturing is based in China and there are 10 major export categories that comprise 70 per cent of its overall exports, including fields like electrical machinery and equipment.

“Now, this is the time…we should identify which are the fields where we can make import substitution, how we can develop the MSMEs and the industry by which we can take advantage of the economic situation in the world,” said Gadkari, who is also the road transport and highways minister.

During the webinar, the minister suggested that to make India a super economic power, “we have to think in the direction of how to increase exports from areas like agriculture, agro processing industries, handloom, handicraft, khadi and village industries”.

The minister told the participants that “we are working on the idea of a land bank and social microfinance institution which will be very helpful for entrepreneurs and persons who want to run small shops and businesses”. While discussing the Atmanirbhar Bharat Abhiyan as envisaged by Prime Minister Narendra Modi, he said handloom, handicrafts, khadi industries and agro-based industries should be encouraged, especially in 115 aspirational districts. “We will have to plan special policies for agricultural, rural and tribal sector because they have huge potential of creating employment.”

Gadkari further said loans of about Rs 1,20,000 crore have been disbursed to MSMEs out of the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS). Quoting from a letter by Finance Minister Nirmala Sitharaman, Gadkari said she has explained that due to dual regulation and supervision, cooperative banks are currently not included as a member lending institution under ECLGS.

“However, data regarding their financial position is being collected from scheduled state cooperative banks and urban cooperative banks for considering their inclusion as a member lending institution under the scheme in consultation with RBI depending upon the availability of headroom under the scheme,” Sitharaman said in the letter, as quoted by Gadkari.

Gadkari said he feels headroom should not be a problem as disbursement of just Rs 1.20 lakh crore has taken place till now out of Rs 3 lakh crore. “So, I don’t feel (there is) a problem of availability of headroom under the scheme. So, this is under consideration and I am expecting that the finance minister will take appropriate decision as early as possible,” he said.

Announced as part of the Rs 20-lakh crore government economic package to tackle the impact of COVID-19, the Rs 3 lakh crore MSME credit guarantee scheme was titled ECLGS. He also expressed confidence that recent steps taken by the government to give relief to MSMEs will “accelerate the wheel of economy”, and urged all chief ministers to issue directions for clearing MSME dues by their ministries/departments and public sector units on priority.

Further, he asked all the stakeholders to do away with all kinds of fear and negativity and assured that the government is doing everything possible to make the country a super economic power.

Live Mint |

Govt may allow cooperative banks to lend under MSME credit guarantee scheme

The government may include cooperative banks as a lending institution under the emergency credit line guarantee scheme (ECLGS) that was announced to support stressed micro, small and medium enterprises (MSME).

MSME minister Nitin Gadkari said the finance minister will take a decision in this regard soon.

“The finance minister has explained that due to the dual regulation and supervision, cooperative banks are not included as member lending institutions (MLIs) under ECLGS. However, data regarding their financial position is being collected from scheduled state cooperative banks and urban cooperative bank to include them as MLIs under the scheme, in consultation with the Reserve Bank of India, depending on availability on headroom of the scheme," Gadkari said at the MSME Conclave organized by FICCI Karnataka State Council.

Currently, all public sector banks and private sector banks and non-banking financial companies (NBFCs) have been extending loans under ECLGS.

ECLGS was announced as a part of the government’s ₹20 trillion financial package to help the poor and small businesses tide over the covid-19 crisis, by providing them additional funding of up to ₹3 trillion in the form of a fully guaranteed emergency credit line.

“The main objective of the Scheme is to provide an incentive to Member Lending Institutions (MLIs), i.e., Banks, Financial Institutions (FIs) and Non-Banking Financial Companies (NBFCs) to increase access to, and enable availability of additional funding facility to MSME borrowers, in view of the economic distress caused by the covid-19 crisis by providing them 100% guarantee for any losses suffered by them due to non-repayment of the GECL (guaranteed emergency credit line) funding by borrowers," according to an official statement released by the government in May.

Gadkari said since disbursement at the moment is only ₹1.2 trillion, as compared to the target of ₹3 trillion, cooperative banks can be allowed to lender under the scheme.

Cooperative institutions play a crucial role in financial inclusion in both rural and urban areas. According to an RBI report, there were 1,551 urban cooperative banks as on 31 March 2018, and 96,612 rural cooperative banks as on 31 March 2017, with the latter accounting for 65.8% of the total asset size of all cooperative banks.

As far as the issue of problem of delayed payments to MSMEs is concerned, the minister said that he has urged all ministries, departments and state-owned companies to clear pending bills of MSMEs within 45 days and the union MSME ministry is closely monitoring the complaints lodged on digital portal--SAMADHAN.

Live Mint |

SBI chief: ₹10,000 crore fund of funds for MSMEs to be operational soon

To provide ₹50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the ₹20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday.

The objective of the ₹10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues. Talking about various steps taken to help MSMEs, he said banks have announced an emergency credit line for such businesses to improve their liquidity which has been hit by the outbreak of COVID-19.

Another liquidity enhancement measure was through support by way of a subordinated debt which was guaranteed by the government for the troubled MSMEs, he said. "Fund of funds, which I presume would also get operationalised very soon. So these take care from the point of view of finance," he said at a virtual event organised by FICCI.

Finance Minister Nirmala Sitharaman in May had announced the Fund of Funds (FOF) will help MSMEs with growth potential and viability even as they face severe shortage of equity. Moreover, the fund will be operated through a Mother Fund and a few daughter funds to enable MSMEs expand in size and capacity and would also encourage them to list on the main board of stock exchanges, she had said.

The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists. The scheme proposes to buy up to 15 per cent growth capital in high credit MSMEs. Speaking about other initiatives of the bank, the SBI chairman said the bank recently launched a gold loan scheme for MSMEs and sanctioned ₹88 crore under this product within one month.

"In a way it is monetization on the ideal gold at least for businesses...safety of your jewellery we are ensuring you don't have to even pay locker and this product has received very good traction and we are planning to further build up this product," he added.

DNA |

Govt to set up social microfinance institutions to provide loans to small businesses in rural sector

The Central Government is working to bring social microfinance institutions in rural areas to help people open small shops and businesses.

This will ease the process of loans to medium and small traders or to individuals in the rural sector.

According to sources, these social microfinance institutions will provide easy and quick loans to people in need.

A "big and important" meeting will be held at NITI Aayog on August 13 regarding the same, sources said.

As per the plan, these microfinance institutions will provide a loan of up to Rs 10 Lakh. An applicant can get the loan within 3 days of submitting the application.

Since the government proposes to set up such financial institution targeting the rural areas, soft loans will be provided to suit the needs of the borrowers.

NITI Aayog CEO, MSME officials, IIT Delhi have been taken on board to take the plan further.

People like auto-rickshaw drivers, Kirana store owners, Mahila Bachat Sangathan can use the loan to start or run a business like papad making and other small businesses that can run from home or small unit.

Union Minister Nitin Gadkari also echoed the same while addressing a virtual MSME conclave organised by the FICCI Karnataka State Council on Monday.

The government is working on the idea of a land bank and a social microfinance institution to help people run small shops and businesses, Gadkari said.

The New Indian Express |

Rs 10,000 crore Fund of Funds for MSMEs to be operational soon: SBI Chairman

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday.

The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues.

Talking about various steps taken to help MSMEs, he said banks have announced an emergency credit line for such businesses to improve their liquidity which has been hit by the outbreak of COVID-19.

Another liquidity enhancement measure was through support by way of a subordinated debt which was guaranteed by the government for the troubled MSMEs, he said.

"Fund of funds, which I presume would also get operationalised very soon. So these take care from the point of view of finance," he said at a virtual event organised by FICCI.

Finance Minister Nirmala Sitharaman in May had announced the Fund of Funds (FOF) will help MSMEs with growth potential and viability even as they face severe shortage of equity.

Moreover, the fund will be operated through a Mother Fund and a few daughter funds to enable MSMEs expand in size and capacity and would also encourage them to list on the main board of stock exchanges, she had said.

The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists.

The scheme proposes to buy up to 15 per cent growth capital in high credit MSMEs. Speaking about other initiatives of the bank, the SBI chairman said the bank recently launched a gold loan scheme for MSMEs and sanctioned Rs 88 crore under this product within one month.

"In a way it is monetization on the ideal gold at least for businesses safety of your jewellery we are ensuring you don't have to even pay locker and this product has received very good traction and we are planning to further build up this product," he added.

The Statesman |

Rs 10,000 cr Fund of Funds for MSMEs to be operational soon: SBI Chairman

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday.

The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues.

Talking about various steps taken to help MSMEs, he said banks have announced an emergency credit line for such businesses to improve their liquidity which has been hit by the outbreak of COVID-19.
Another liquidity enhancement measure was through support by way of a subordinated debt which was guaranteed by the government for the troubled MSMEs, he said.

“Fund of funds, which I presume would also get operationalised very soon. So these take care from the point of view of finance,” he said at a virtual event organised by FICCI.

Finance Minister Nirmala Sitharaman in May had announced the Fund of Funds (FOF) will help MSMEs with growth potential and viability even as they face severe shortage of equity.

Moreover, the fund will be operated through a Mother Fund and a few daughter funds to enable MSMEs expand in size and capacity and would also encourage them to list on the main board of stock exchanges, she had said.

The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists. The scheme proposes to buy up to 15 per cent growth capital in high credit MSMEs.

Speaking about other initiatives of the bank, the SBI chairman said the bank recently launched a gold loan scheme for MSMEs and sanctioned Rs 88 crore under this product within one month.

“In a way it is monetization on the ideal gold at least for businesses…safety of your jewellery we are ensuring you don’t have to even pay locker and this product has received very good traction and we are planning to further build up this product,” he added.

sify.com |

Karnataka tells industries to resume work under new norms

Karnataka Industries Minister Jagadish Shettar on Saturday told the state's industrial sector to resume operations, which remained shut over 55 days due to the lockdown enforced since March 25 to contain the coronavirus spread.

"As economic activities have to be reopened despite coronavirus spread affecting normal life, resume operations under the new norms of wearing mask, washing hands with sanitizers, and maintaining social distancing," Shettar told captains of industry in a virtual interaction with members of apex bodies here.

With the easing of the lockdown norms since April 22, Shettar said many units across the state involved in making essential things and as part of the supply chain partially reopened with a single shift and one third employees while adhering to social distancing and maintaining hygienic conditions.

"The Rs 20,000-lakh crore stimulus package Prime Minister Narendra Modi unveiled to revive the sagging economy and its allocation to various sectors by Union Finance Minister Nirmala Sitharaman will enable industries to rev up and accelerate their growth," asserted Shettar.

Noting that the financial package had something for every sector to give relief from the huge loss suffered due to the Covid-induced lockdown, the Minister said as the micro, small and medium enterprises (MSMEs) were the lifeline of the manufacturing sector, their working capital needs would be met on priority with liberal schemes.

"Time has come to change the growth pattern. We need to show resilience and adopt bold reforms to make the country a global manufacturing hub," he said.

Industries Department Principal Secretary Gaurav Gupta said the state government was committed to support the industrial sector, facing the brunt of the coronavirus scare.

"No restriction on industries employing human resources as per the safety norms. Efforts are also being made to get the migrants workers back to work from the native place within and outside the state," reiterated Gupta.

Federation of Indian Chamber of Commerce and Industries (FICCI) Chairman Ullas Kamath said on the occasion that the manufacturing and services sectors would resume their operations to spur growth, leveraging their strength and the stimulus package of the government.

State Industries Commissioner Gunjan Krishna and the apex industry's representatives from this tech city and New Delhi participated in the interaction.

Zee Business |

Karnataka tells industries to resume work under new norms

Karnataka Industries Minister Jagadish Shettar on Saturday told the state's industrial sector to resume operations, which remained shut over 55 days due to the lockdown enforced since March 25 to contain the coronavirus spread.

"As economic activities have to be reopened despite coronavirus spread affecting normal life, resume operations under the new norms of wearing mask, washing hands with sanitizers, and maintaining social distancing," Shettar told captains of industry in a virtual interaction with members of apex bodies here.

With the easing of the lockdown norms since April 22, Shettar said many units across the state involved in making essential things and as part of the supply chain partially reopened with a single shift and one third employees while adhering to social distancing and maintaining hygienic conditions.

"The Rs 20,000-lakh crore stimulus package Prime Minister Narendra Modi unveiled to revive the sagging economy and its allocation to various sectors by Union Finance Minister Nirmala Sitharaman will enable industries to rev up and accelerate their growth," asserted Shettar.

Noting that the financial package had something for every sector to give relief from the huge loss suffered due to the Covid-induced lockdown, the Minister said as the micro, small and medium enterprises (MSMEs) were the lifeline of the manufacturing sector, their working capital needs would be met on priority with liberal schemes.

"Time has come to change the growth pattern. We need to show resilience and adopt bold reforms to make the country a global manufacturing hub," he said.

Industries Department Principal Secretary Gaurav Gupta said the state government was committed to support the industrial sector, facing the brunt of the coronavirus scare.

"No restriction on industries employing human resources as per the safety norms. Efforts are also being made to get the migrants workers back to work from the native place within and outside the state," reiterated Gupta.

Federation of Indian Chamber of Commerce and Industries (FICCI) Chairman Ullas Kamath said on the occasion that the manufacturing and services sectors would resume their operations to spur growth, leveraging their strength and the stimulus package of the government.

State Industries Commissioner Gunjan Krishna and the apex industry's representatives from this tech city and New Delhi participated in the interaction.

The Hindu Business Line |

More segments of economy to be opened up: Karnataka Minister

The Covid-19 pandemic is still affecting the normal life, but we have to open up our economic activities through social distancing and other hygienic practices, said Karnataka’s Large and Medium Industries Minister Jagadish Shettar.

Addressing trade and industry via a video conference organised by the Federation of Indian Chambers of Commerce and Industries (FICCI), Shettar said a series of package announced by the State and Centre for the revival of the MSMEs is expected to bring the much needed dynamism to the economy and would come out of the crisis with more strength.

He said that even during the lockdown period, the state government was in constant touch with various industrial sectors.

“In Karnataka, we have already partially opened the manufacturing and economic activities as per the guidelines set by the Union Ministry of Home Affairs (MHA). Activities are operational and more segments will be opening up,” said Shettar and added that the historic financial package unveiled by the Prime Minister would give much needed relief to all segments of the economy.

Shettar said the strength of manufacturing sector is the MSME sector, which is the supplier to the capital goods sector and we have to protect both the segments. “The credit flow has to be brought back. The working capital requirements of the MSME sector has to be supported with liberal schemes,” he added.

Karnataka’s Principal Secretary of Industries Department Gaurav Gupta said the State government is committed to support the industrial sector which is facing the brunt of the pandemic.

“There is no restriction of the industries sector employing 100 per cent of their human resources keeping in mind the safety norms. The department will make all efforts to bring back the workers who have migrated,” he explained.

In his introductory speech, Ullas Kamath, Chairman of the Federation of Indian Chambers of Commerce and Industries said that during the lockdown period the FICCI was in constant touch with the government and the industries department. The officers of the department gave us all permissions necessary for our functioning, he added.

Hindustan Times |

Covid-19 lockdown: Karnataka asks industries to commence operations

Karnataka Industries Minister Jagadish Shettar on Saturday asked the state’s industrial sector which has remained shut for over 50 days due to the coronavirus-induced lockdown to commence operations under new norms such as social distancing and use of masks and sanitisers.

Participating in a video conference organised by the Federation of Indian Chambers of Commerce and Industry, Shettar said the Covid-19 pandemic continued to affect normal life in the country.

“Yet, we have to open up our economic activities through strict measures of social distancing and other hygienic practices,” the minister was quoted as saying in a press release.

Shettar said the package announced by the Centre and the State for the revival of the MSMEs will bring the much- needed dynamism to the economy and enable them emerge from the current phase out with more strength, the press release said.

The government was in constant touch with industries, Shettar said, adding “in our State we have already partially opened manufacturing and economic activities as per guidelines set by the Ministry of Home Affairs...and more segments will be opening up.” The minister emphasised on bringing back the credit flow and introducing liberal schemes to support working capital requirement of the MSME sector.

Speaking on the occasion, Principal Secretary of Industries Department Gaurav Gupta, said the State government is committed to support the industrial sector which is facing the brunt of the pandemic.

“There is no restriction of the industries sector employing 100 per cent of their human resources keeping in mind the safety norms. The department will make all efforts to bring back the workers who have migrated,” he added.

In his introductory speech, Ullas Kamath, Chairman of the Federation of Indian Chambers of Commerce and Industry- Karnataka state council, said during the lockdown period FICCI was in constant touch with the government and the Industries department.

Outlook |

Karnataka tells industries to resume work under new norms

Karnataka Industries Minister Jagadish Shettar on Saturday told the state's industrial sector to resume operations, which remained shut over 55 days due to the lockdown enforced since March 25 to contain the coronavirus spread.

"As economic activities have to be reopened despite coronavirus spread affecting normal life, resume operations under the new norms of wearing mask, washing hands with sanitizers, and maintaining social distancing," Shettar told captains of industry in a virtual interaction with members of apex bodies here.

With the easing of the lockdown norms since April 22, Shettar said many units across the state involved in making essential things and as part of the supply chain partially reopened with a single shift and one third employees while adhering to social distancing and maintaining hygienic conditions.

"The Rs 20,000-lakh crore stimulus package Prime Minister Narendra Modi unveiled to revive the sagging economy and its allocation to various sectors by Union Finance Minister Nirmala Sitharaman will enable industries to rev up and accelerate their growth," asserted Shettar.

Noting that the financial package had something for every sector to give relief from the huge loss suffered due to the Covid-induced lockdown, the Minister said as the micro, small and medium enterprises (MSMEs) were the lifeline of the manufacturing sector, their working capital needs would be met on priority with liberal schemes.

"Time has come to change the growth pattern. We need to show resilience and adopt bold reforms to make the country a global manufacturing hub," he said.

Industries Department Principal Secretary Gaurav Gupta said the state government was committed to support the industrial sector, facing the brunt of the coronavirus scare.

"No restriction on industries employing human resources as per the safety norms. Efforts are also being made to get the migrants workers back to work from the native place within and outside the state," reiterated Gupta.

Federation of Indian Chamber of Commerce and Industries (FICCI) Chairman Ullas Kamath said on the occasion that the manufacturing and services sectors would resume their operations to spur growth, leveraging their strength and the stimulus package of the government.

State Industries Commissioner Gunjan Krishna and the apex industry's representatives from this tech city and New Delhi participated in the interaction.

newsd |

Karnataka industries set to reopen from May 4

Awaiting new guidelines from the Centre on lifting the extended lockdown, Karnataka Chief Minister B.S. Yediyurappa advised industry apex bodies to prepare for resuming work from May 4 except in coronavirus-hit containment zones across the state, an official said on Thursday.

“The state government is expecting further guidelines to resume industrial operations after May 3,” said an official, quoting Yediyurappa telling the captains of the industry and heads of trade bodies at an interaction with them.

The Chief Minister also told the industry representatives that he was aware of the problems they were facing but appealed them to continue to pay salaries to their employees.

Insisting on physical distancing, Yediyurappa said precautionary measures should be taken for the employees’ safety in the factory, including wearing masks and maintaining hygiene.

The state government has allowed industrial activities in 14 districts which are green zones, being free from the virus over the last 28 days.

The Chief Minister also said that the Labour Department was giving permission to factory owners on extending work hours.

The representatives who met Yediyurappa included from the FKCCI, KASSIA, FICCI, CII, AWAKE, ASSOCHAM, BCIC, Confederation of Women Entrepreneurs and others.

The Hindu Business Line |

Not much to worry about coronavirus cases in Bengaluru: Yediyurappa

Karnataka Chief Minister BS Yediyurappa on Thursday said there was no need to worry any further about the spread of Coronavirus as it was coming under control raising hopes of a relaxation of the lockdown in several parts of the State.

Speaking to reporters after a Cabinet meet on Thursday, he said “There is a feeling that Covid-19 is in a way under control. There has not been much cases in Bengaluru, as we are seeing for the last three-four days.”

On Thursday, there was a spike in new cases, Bengaluru Urban reported 10 new cases. The city so far has reported 141 positive cases, of which 61 were discharged. It has claimed five lives.

“We will have to wait and see for a couple of days to take a final call,” he added on allowing more industrial activity.

Today’s Cabinet discuss extensively how to give permission to start industrial activities in all areas, except Covid-19 Containment zones from May 4.

Chief Minister said “As of now we don’t have any plans to open malls, hotels, but parcels or take-away are allowed at hotel.”

Meets industries

Yediyurappa along with Industries Minister Jagadish Shettar, Labour Minister Arabail Shivarama Hebbar, met representatives of FKCCI, KASSIA, FICCI, CII, AWAKE, ASSOCHAM, BCIC and Confederation of Women Entrepreneurs and took feedback and discussed how to resume operations from May 4.

The Hindu |

Pay full wages; will frame rules on longer work hours: Govt.

Agreeing in-principle to extend working hours of industrial employees, the State government on Thursday said it would frame rules on this soon. It asked industrialists to pay salaries/wages of the 40-day lockdown period to staff and commence industrial activities by following the Centre’s guidelines, which are expected on May 4.

Chief Minister B.S. Yediyurappa and Major and Medium Industries Minister Jagadish Shettar met representatives of commerce and industry associations on Thursday and told entrepreneurs to commence industrial production from Monday by taking all precautionary measures for the safety of employees on the factory premises, including wearing mask, maintaining hygiene, and social distance.

Labour Minister Shivaram Hebbar, representatives of FKCCI, KASSIA, FICCI, CII, AWAKE, ASSOCHAM, BCIC, and Confederation of Women Entrepreneurs were present. will frame rules on longer work hours: Govt.

Outlook |

Karnataka industries set to reopen from May 4

Awaiting new guidelines from the Centre on lifting the extended lockdown, Karnataka Chief Minister B.S. Yediyurappa advised industry apex bodies to prepare for resuming work from May 4 except in coronavirus-hit containment zones across the state, an official said on Thursday.

"The state government is expecting further guidelines to resume industrial operations after May 3," said an official, quoting Yediyurappa telling the captains of the industry and heads of trade bodies at an interaction with them.

The Chief Minister also told the industry representatives that he was aware of the problems they were facing but appealed them to continue to pay salaries to their employees.

Insisting on physical distancing, Yediyurappa said precautionary measures should be taken for the employees'' safety in the factory, including wearing masks and maintaining hygiene.

The state government has allowed industrial activities in 14 districts which are green zones, being free from the virus over the last 28 days.

The Chief Minister also said that the Labour Department was giving permission to factory owners on extending work hours.

The representatives who met Yediyurappa included from the FKCCI, KASSIA, FICCI, CII, AWAKE, ASSOCHAM, BCIC, Confederation of Women Entrepreneurs and others.

Daiji World |

Bengaluru: CM holds meeting with industrialists on resumption of production

In the continued environment of lockdown and slump in economic and industrial activities over the Corona epidemic, Karnataka Chief Minister B.S. Yediyurappa on Thursday conducted a meeting with members of various associations of commerce and industries and suggested to be prepared to resume industrial operations.

The meeting was held as the state Government is expecting further guidelines for resuming industrial operations after May 4.

During the meeting, the members of various associations, appreciated the work done by Chief Minister in effectively containing COVID 19 in the State and expressed their opinions and suggestions.

After giving a patient hearing to their grievances, the Chief Minister said the State Government was fully aware of the problems that the industrialists were facing.

He, however, appealed to the industrialists to pay wages/salaries to the employees.

The Chief Minister requested the industrialists to take all precautionary measures for the safety of the employees in the factory premises and wearing of masks and maintaining hygiene and social distance must be mandatorily followed.

The State Government has already permitted resumption of industries in green zones.

Guidelines from the Union Government is awaited for steps to be taken after May 4 and Government will act accordingly, he said.

The Chief Minister assured that the State Government will consider their demands compassionately and discuss with officers and respond positively keeping in mind the constraints of the Government.

During the meeting, it was clarified that the Labor department is providing permission to factory owners regarding extension of working hours.

Industries Minister Jagadish Shettar, Labour Minister Arabail Shivarama Hebbar, representatives of FKCCI, KASSIA, FICCI, CII, AWAKE, ASSOCHAM, BCIC, Confederation of Women Entrepreneurs and other organisations were present at the meeting.

Machine Maker |

FICCI to organize Invest Karnataka 2020 Roadshow in Hyderabad

Karnataka has become a prominent name in the field of industrial growth in India. Continuing this steady path of growth, the State Government is keen to explore and promote the immense business opportunities available in the state with support from key stakeholders. Promoting industries and investments in the state, the Government of Karnataka is organizing Invest Karnataka 2020 from 3rd to 5th of November 2020.

In view of the above, FICCI is jointly organizing the Invest Karnataka Roadshow on 29th January 2020 at 6.00 p.m. at Hotel Taj Deccan (Kohinoor hall), Banjara Hills, Hyderabad as a run-up to the conference mentioned above. The event is followed by dinner. With this event, Karnataka aims at showcasing the opportunities for business and commercial activities and attracting global investments with a focus on socio-economic development and employment generation in the region.

FICCI invites industrialists from Hyderabad to be part of this event and share experience on Karnataka’s conducive industrial ecosystem, proactive steps by the State Government and Ease of doing business with the participants and fellow industry members. You can register to this event by sharing an email to k.rao@ficci.com ficcits@ficci.com & ficciap@ficci.com or call @ 7842848848

Indian Web2 |

IIM-B, FICCI conference explores design of A new Data Economy For India

Indian Institute of Management Bangalore (IIMB), in association with the Federation of Indian Chambers of Commerce and Industry (FICCI), hosted a one-day conference on ‘Digital Data Privacy, Protection and Monetization Models’ at IIMB on October 10, 2019.

Welcoming the speakers and audience, Prof. A. Damodaran, Faculty from the Economics and Social Sciences area at IIMB, and DPIIT Chair Professor on IPR, said: “The conference aims to propose policy guidelines on data flows and explore the design of a new data economy for India. It delves into the requirements for a Digital and IPR infrastructure for India that can lead to the emergence of a robust data economy in the country. The conference will also discuss corporate strategies and responses to controls and regulations on data.”

Industry leaders and policymakers addressed issues like the legal framework of Data Protection Data/Cyber Security and Privacy in India, Digital India and Design of Data Protection Ecosystems, Network Technologies, IPRs and Data Monetization Models, Corporate India: Coping Mechanisms and Strategies, and Assessing Preparedness: Towards an Indian Model of Data-Driven Economic System.

Key speakers included Bhavna Sangwan, Amazon, Rama Vedashree, CEO, Data Security Council of India, Bikash Barai, Co-founder, FireCompass, Pratap Reddy, IPS, ADGP, Karnataka, Ravichandran R, IRS, Principal Director of Income Tax (Investigation), Bengaluru, Venkatesh Murthy, Director, DSCI, Bangalore, Gopal Mulagund, Director, Database Security Development, Oracle, Dr. Rohini Srivathsa, CTO & Strategy Lead, Microsoft, Satish K Sreenivasaiah, Head of Product Trustworthy CoE at TCS Components Engineering Group (CEG), Saurabh Agarwal, Senior Product Manager, LinkedIn, L. Ravichandran, President and COO, Tech Mahindra, Ravi Gandhi, CRO, Airtel, Lakshminarayanan R., Director & Head – IP & Innovation, Samsung R&D Institute Speaker from Realtor Sector (TBI), Professors A. Damodaran, Anil Suraj and Sankarshan Basu among others.

In his introductory remarks, Ullas Kamath, Chairman, FICCI KSC & Joint Managing Director, Jyothy Laboratories Limited, said: “Data is becoming crucial to public and government. India must play a pivotal role in the deliberations on a secure India and a responsive governance structure. The focus of today’s conference is on the possible trade-offs amongst aspects like Data Protection, Privacy and rapidly growing digitally-driven economic systems that have been key priorities for India in the preceding three years. We hope this conference provides us answers to questions in and around the subjects in the light of the privacy laws envisaged.”

In his special address on video, Ram Sevak Sharma, Chairman, TRAI, emphasized the need to address key issues on data privacy, data protection including consent and the need for accountability in cases of misuse. “I have spent over four decades in the government sector and I have witnessed a vast change in this system. We need to thank Mr. Nandan Nilekani for introducing Aadhar, which has brought in a modern data privacy regime in India. Earlier, there was no urge for data protection and privacy amongst the masses but with the introduction of Adhaar, the need is being felt amongst the public. Unfortunately, the law hasn’t been introduced yet and we still need an overall privacy law in our country. The Aadhaar Bill limits the usage of data and it can be shared only with consent.”

Prof. G. Raghuram, Director, IIMB, said: “The Indian market has tremendous growth potential in the data market. We are swiftly evolving from a knowledge economy to a data-driven economy. In less than a decade, technology has disrupted the landscape in healthcare, transportation and banking. India has data, huge market opportunities and immense talent and it is up to us to decide out what we want to do with it. In the long run we need to come up with a strict privacy law.”

Expert panels:

The panel on legal dimensions of privacy discussed Constitutional right vs privacy as personal resource, national prerogative vs personal consent and more. The panel on Data Security: The Cyber Security dimensions gave an overview of the state of preparedness in India, data and privacy breach costs, ethical hacking and risk assessment, cyber security and due diligence in mergers and acquisitions. The one on Network Technologies, IPRs and Data Monetization Models elaborated on IPR implications of Blockchains as open, distributed ledgers on IPRs, IPR-driven data monetization models, while the one on Corporate India: Coping Mechanisms and Strategies looked to answer questions on data provisioning costs, economies of altered portability options with reference to cloud-based services, quality IP generation, incremental costing of compliance, and global monetizing of private data. The final session assessed preparedness towards an Indian model of data-driven economic systems.

In his concluding remarks, Prof. A. Damodaran, the conference chair, said: “The conference has put together policy guidelines on data flows, new data economy for India and privacy from the public goods angle. With the support of FICCI, we would like to take this agenda forward and hope that this session could make a difference to Digital and IPR infrastructure for India that can lead to the emergence of a robust data Economy in the country.”

Bangalore Mirror |

Celebrating spirit of womanhood

What better time to celebrate woman power than during Navratri? And Jyotika Kalra did it in style, quite literally. Using the festival which is dedicated to Durga as inspiration, Jyotika, one of the founding members of FICCI FLO Bangalore, celebrated the strength and vision of a few women who have become role models for their community.

The venue was the Masaba Gupta store in the city, which retails designer’s creations. The event was a fellowship of achievers and women of substance who wore beautiful designer dresses and sarees and shared stories of success and struggle to encourage many more achievers.

Kalra, who is next in line to be the Chair of FICCI FLO Bangalore said, “Empowerment comes in many ways. The way we dress and appear is as important as what we do, how we enable others, what we strive for… Today, we’re celebrating Masaba and her mother, Neena Gupta, because they are epitomes of empowerment. Neena Gupta, stood tall and strong with the bold decision she made to be a single mother many years ago.
Today her daughter, Masaba, is an inspiration for women to own their individuality and become role models.” Some of the women who were invited to display Masaba’s clothes were beauty entrepreneur Manjul Gupta, therapist, yoga teacher and volunteer Nirmala Nayak, beauty contest title holder Priyanka Abhishek, interior designer Aarti Sud, style icon Meena Vinchhi, PR professional Naomi Junaid and entrepreneur Sarauyu Hegde, all members of FICCI FLO and achievers in their own right. FICCI FLO is the women’s wing of the Federation of Indian Chamber of Commerce & Industry (FICCI).

KNN |

Karnataka invites Taiwanese firms to invest in state

Karnataka government has invited Taiwanese companies to invest in the State.

A state delegation led by Gunjan Krishna, Commissioner for Industrial Development and Director of Industries & Commerce, interacted with leading Taiwanese companies.

The official interacted with Taiwanese companies engaged in the electronics, electric vehicles, FMCG electronics, green energy industrial at the 18th India Taiwan Joint Business Council Meeting, organized jointly by the Federation of Indian Chambers of Commerce & Industry (FICCI) and Chinese International Economic Cooperation Association, in New Delhi recently.

Tien Chung – Kwang, Ambassador of Taiwan and Representative of Taiwan Economic and Cultural Centre in India, inaugurated the meeting.

Leading Taiwanese and Indian business leaders discussed methods to enhance the industrial and business ties between India and Taiwan during the meeting.

About 40 Taiwanese companies participated in the event. Some of the leading Taiwanese companies participated in the meeting were Wistron, Chroma Ate Inc, Sinpro and Yusun Holding Corporation.

The Commissioner said the government is working on development of specific cluster development for electric vehicles and defence equipment.

Several enabling interventions being created to drive investments in these sectors which includes enabling infrastructure (plug and play infrastructure, readymade sheds, Centre of Excellence for skill development), attractive incentive packages etc.

dailyhunt |

Little done to address economic slowdown, says FICCI

The Karnataka chapter of Federation of Indian Chamber of Commerce and Industries (FICCI) remained unimpressed with the union budget of the Modi 2.0 government presented by finance minister Nirmala Sitharaman.

The FICCI felt there was little done to address the economic slowdown while the health and education sector did not get the required filip.

The FICCI Karnataka chair and joint managing director of Jyothi Laboratories Ullas Kamath said there was no big ticket initiative in the speech while he was expecting policies for consumption-led growth.

“We all are experiencing economic slowdown and it is true and happening whether we admit or not. If you go to a mall here, people outside the shop are much more than the people inside the shop. At some of the malls, the shopkeepers are much more than the people who are getting in and that is a reality all over the country,” Kamath said during a panel discussion on the budget.

He felt that the finance minister would admit boldly about the economic slowdown and the need to fix it.

Kamath opined that the fixing the slowdown could be done by increasing the consumption for which salaries should have gone up.

He was also critical about the concessions on the houses saying that affordable housing could be possible only if people have money.

“A Rs 1.5-lakh exemption is perfectly fine but you need to have 45 lakh to invest money in the real estate sector. The real estate sector itself is not doing that well,” Kamath said.

He expressed displeasure over increasing the surcharge to 3 per cent on the taxpayers with annual income between Rs two crore and Rs three crore. The government also has proposed to increase the surcharge to seven per cent on people with income above Rs five crore annually.

Anand Sudarshan of Sylvant Advisors Private Limited opined that the budget lacked a larger vision.

“This budget lacked a larger vision and I think Ullas alluded that. I think there is an opportunity to pick up that and start looking at something very broad. For example, things to do with key social sectors education, health and sustainable living,” Sudarshan said.

He said he was surprised that healthcare was completely ignored except for one reference of Ayushman Bharat.

“Close to 70 per cent of all mortality in the country is slowing heading towards the non-communicable diseases whereas our entire policy is built around communicable diseases, Sudarshan said.

Other speakers on the panel hailed the initiatives like using PAN as an alternative to Aadhaar, concessions on electrical vehicles, national research foundation and measures for the micro, small and medium enterprises.

Greater Kashmir |

Little done to address economic slowdown: FICCI

The Karnataka chapter of Federation of Indian Chamber of Commerce and Industries (FICCI) remained unimpressed with the union budget of the Modi 2.0 government presented by finance minister Nirmala Sitharaman.

The FICCI felt there was little done to address the economic slowdown while the health and education sector did not get the required filip.

The FICCI Karnataka chair and joint managing director of Jyothi Laboratories Ullas Kamath said there was no big ticket initiative in the speech while he was expecting policies for consumption-led growth.

“We all are experiencing economic slowdown and it is true and happening whether we admit or not. If you go to a mall here, people outside the shop are much more than the people inside the shop. At some of the malls, the shopkeepers are much more than the people who are getting in and that is a reality all over the country,” Kamath said during a panel discussion on the budget.

He felt that the finance minister would admit boldly about the economic slowdown and the need to fix it.

Kamath opined that the fixing the slowdown could be done by increasing the consumption for which salaries should have gone up.

He was also critical about the concessions on the houses saying that affordable housing could be possible only if people have money.

“A Rs 1.5-lakh exemption is perfectly fine but you need to have 45 lakh to invest money in the real estate sector. The real estate sector itself is not doing that well,” Kamath said. He expressed displeasure over increasing the surcharge to 3 per cent on the taxpayers with annual income between Rs two crore and Rs three crore. The government also has proposed to increase the surcharge to seven per cent on people with income above Rs five crore annually.

Deccan Herald |

The budget lacked a larger vision: FICCI

Start-ups, MSMEs and income-tax policies dominated the live budget discussion held on Friday at the World Trade Centre. It was conducted by the Karnataka chapter of FICCI.

While the panellists applauded the comprehensive layout of budget 2019, they pointed out that some important issues were left untouched.

"The focus on transparency in income tax is welcome. Ease of paying tax is really important if you want to increase collections and it's good to see the government has attached significance to it, said Ishwar Subramanian- Advisor on strategy to BEML

On budget pronouncements on Angel tax, Naganand Doraswamy, Founder and Managing Director at IdeaSpring Capital said, "Angel tax going away is a big thing, we just need to figure out what e-filing is, and hopefully that would be easy. The fact that they have proposed setting up a National Research Foundation is important because that will consolidate what funding can be given, and will be a central place where you could go to get funds on innovation and research."

The budget lacked a larger vision, said Anand Sudarshan, former CEO of Manipal Education Group. "While the good part is that education was covered, it was surprising that healthcare was completely ignored except for one reference to Ayushmaan Bharat. It's good to have National Research Foundation consolidating all funding, but I hope it is set up on the lines of National Science Foundation in the US, where researchers have to apply for funds, competing with others and are assessed independently, with no discrimination between public and private institutions," Sudarshan said.

"The biggest challenge that India is facing today, is the refinancing of banks. Allocating Rs 70,000 crore to the sector is, therefore, a very positive move, but it needs to be seen how the bank and the sector use it, said Indraneel Roy Choudhury, member of the Governance Board of PricewaterhouseCoopers (PwC India).

Ullas Kamath, Joint Managing Director, Jyothy Laboratories said, "From an industry perspective, we were looking at major reforms to attract investment in the country, which were not mentioned in the speech. Also, whether we admit it or not, the economic slowdown is real, I was hoping that the Finance Minister would boldly admit there's is a slowdown and we need to fix that but there was no sign of it. There was no direct mention of job creation either."

Moneycontrol |

Budget 2019: Mixed views on skilling 10 million youth in AI,AR and VR

The industry has mixed views on the government's move to train 10 million youth to handle the latest technology such as artificial intelligence, IoT and big data.

While some pointed out that it will bridge the much needed gap in the skill space, others are not convinced.

Nirmala Sitharaman, Finance Minister, in her maiden Budget said, the Government will enable 10 million youth to take up industry-relevant skill training through the Pradhan Mantri Kaushal Vikas Yojana (PMKVY).

Sitharaman said this will create a large pool of skilled manpower with speed and high standards.

“Demographic trends worldwide show that major economies will face severe labour shortages in the future. To prepare our youth to also take up jobs overseas, we will increase focus on skill sets needed abroad including language training,” she said.

Sitharaman further added, “We will also lay focus on new-age skills like artificial intelligence (AI), Internet of Things, big data, 3D printing, virtual reality and robotics, which are valued highly both within and outside the country, and offer much higher remuneration,”

Skilling has been a major issue in India as the industry is going through a digital transformation phase. Tech majors have raised concerns about lack of skills in the new age technologies such as AI, machine learning and big data.

The budget announcement was in part to bridge this gap in talent availability.

However lack of clarity on how it will be implemented and direction it is likely to take has raised questions.

K Ullas Kamath, chairman, FICCI Karnataka Council, told Moneycontrol, “How is this going to work out in practice?” Kamath pointed out that at a time when engineering graduates or post graduates are unable to get jobs, how would such skilling help.

Naganand Doraswamy, founder and managing director, Ideaspring Capital, explained that it is not that easy to train 10 million youth in latest technologies given existing technology institutions are unable to do so.

Rituparna Chakraborty, president, India Staffing Federation, said, “The budget was high on niche skills, but it did talk about vocational skills which are the need of the hour.” Unless the government gives impetus to vocational skills, the issues are unlikely to be solved, she added.

Financial Express |

Budget 2019: Little done to address economic slowdown, says FICCI

The Karnataka chapter of Federation of Indian Chamber of Commerce and Industries (FICCI) remained unimpressed with the union budget of the Modi 2.0 government presented by finance minister Nirmala Sitharaman. The FICCI felt there was little done to address the economic slowdown while the health and education sector did not get the required filip. The FICCI Karnataka chair and joint managing director of Jyothi Laboratories Ullas Kamath said there was no big ticket initiative in the speech while he was expecting policies for consumption-led growth.

“We all are experiencing economic slowdown and it is true and happening whether we admit or not. If you go to a mall here, people outside the shop are much more than the people inside the shop. At some of the malls, the shopkeepers are much more than the people who are getting in and that is a reality all over the country,” Kamath said during a panel discussion on the budget. He felt that the finance minister would admit boldly about the economic slowdown and the need to fix it.

Kamath opined that the fixing the slowdown could be done by increasing the consumption for which salaries should have gone up. He was also critical about the concessions on the houses saying that affordable housing could be possible only if people have money. “A Rs 1.5-lakh exemption is perfectly fine but you need to have 45 lakh to invest money in the real estate sector. The real estate sector itself is not doing that well,” Kamath said.

He expressed displeasure over increasing the surcharge to 3 per cent on the taxpayers with annual income between Rs two crore and Rs three crore. The government also has proposed to increase the surcharge to seven per cent on people with income above Rs five crore annually. Anand Sudarshan of Sylvant Advisors Private Limited opined that the budget lacked a larger vision.

“This budget lacked a larger vision and I think Ullas alluded that. I think there is an opportunity to pick up that and start looking at something very broad. For example, things to do with key social sectors education, health and sustainable living,” Sudarshan said. He said he was surprised that healthcare was completely ignored except for one reference of Ayushman Bharat.

“Close to 70 per cent of all mortality in the country is slowing heading towards the non-communicable diseases whereas our entire policy is built around communicable diseases, Sudarshan said. Other speakers on the panel hailed the initiatives like using PAN as an alternative to Aadhaar, concessions on electrical vehicles, national research foundation and measures for the micro, small and medium enterprises.

Business Standard |

Little done to address economic slowdown, says FICCI

The Karnataka chapter of Federation of Indian Chamber of Commerce and Industries (FICCI) remained unimpressed with the union budget of the Modi 2.0 government presented by finance minister Nirmala Sitharaman.

The FICCI felt there was little done to address the economic slowdown while the health and education sector did not get the required filip.

The FICCI Karnataka chair and joint managing director of Jyothi Laboratories Ullas Kamath said there was no big ticket initiative in the speech while he was expecting policies for consumption-led growth.

"We all are experiencing economic slowdown and it is true and happening whether we admit or not. If you go to a mall here, people outside the shop are much more than the people inside the shop. At some of the malls, the shopkeepers are much more than the people who are getting in and that is a reality all over the country," Kamath said during a panel discussion on the budget.

He felt that the finance minister would admit boldly about the economic slowdown and the need to fix it.

Kamath opined that the fixing the slowdown could be done by increasing the consumption for which salaries should have gone up.

He was also critical about the concessions on the houses saying that affordable housing could be possible only if people have money.

"A Rs 1.5-lakh exemption is perfectly fine but you need to have 45 lakh to invest money in the real estate sector. The real estate sector itself is not doing that well," Kamath said.

He expressed displeasure over increasing the surcharge to 3 per cent on the taxpayers with annual income between Rs two crore and Rs three crore. The government also has proposed to increase the surcharge to seven per cent on people with income above Rs five crore annually.

Anand Sudarshan of Sylvant Advisors Private Limited opined that the budget lacked a larger vision.

"This budget lacked a larger vision and I think Ullas alluded that. I think there is an opportunity to pick up that and start looking at something very broad. For example, things to do with key social sectors education, health and sustainable living," Sudarshan said.

He said he was surprised that healthcare was completely ignored except for one reference of Ayushman Bharat.

"Close to 70 per cent of all mortality in the country is slowing heading towards the non-communicable diseases whereas our entire policy is built around communicable diseases, Sudarshan said.

Other speakers on the panel hailed the initiatives like using PAN as an alternative to Aadhaar, concessions on electrical vehicles, national research foundation and measures for the micro, small and medium enterprises.

ETNownews.com |

FICCI unimpressed with Budget 2019 of Modi 2.0 government

The Karnataka chapter of Federation of Indian Chamber of Commerce and Industries (FICCI) remained unimpressed with the union budget of the Modi 2.0 government presented by finance minister Nirmala Sitharaman.

The FICCI felt there was little done to address the economic slowdown while the health and education sector did not get the required flip. The FICCI Karnataka chair and joint managing director of Jyothi Laboratories Ullas Kamath said there was no big ticket initiative in the speech while he was expecting policies for consumption-led growth.

"We all are experiencing economic slowdown and it is true and happening whether we admit or not. If you go to a mall here, people outside the shop are much more than the people inside the shop. At some of the malls, the shopkeepers are much more than the people who are getting in and that is a reality all over the country," Kamath said during a panel discussion on the budget.

He felt that the finance minister would admit boldly about the economic slowdown and the need to fix it.

Kamath opined that fixing the slowdown could be done by increasing the consumption for which salaries should have gone up.

He was also critical about the concessions on the houses saying that affordable housing could be possible only if people have money.

"A Rs 1.5-lakh exemption is perfectly fine but you need to have 45 lakh to invest money in the real estate sector. The real estate sector itself is not doing that well," Kamath said.

He expressed displeasure over increasing the surcharge to 3 per cent on the taxpayers with annual income between Rs two crore and Rs three crore. The government also has proposed to increase the surcharge to seven per cent on people with income above Rs five crore annually.

Anand Sudarshan of Sylvant Advisors Private Limited opined that the budget lacked a larger vision.

"This budget lacked a larger vision and I think Ullas alluded that. I think there is an opportunity to pick up that and start looking at something very broad. For example, things to do with key social sectors education, health and sustainable living," Sudarshan said.

He said he was surprised that healthcare was completely ignored except for one reference of Ayushman Bharat.

"Close to 70 per cent of all mortality in the country is slowing heading towards the non-communicable diseases whereas our entire policy is built around communicable diseases, Sudarshan said.

Other speakers on the panel hailed the initiatives like using PAN as an alternative to Aadhaar, concessions on electrical vehicles, national research foundation and measures for the micro, small and medium enterprises.

Business Standard |

Digital Infrastructure to play major role in reviving Indian Economy

Co-founder and Chairman of Infosys Technologies, Nandan Nilekani said yesterday that India's digital infrastructure will play a major role in reviving the economy, according to a latest update from Federation of Indian Chambers of Commerce and Industry (FICCI). Nilekani made these comments while addressing FICCI members at the National Executive Committee Meeting on 'Digital India and its Impact on Economy and Industry' in Bengaluru.

He said that the country has witnessed dramatic transformation through Aadhaar-based e-KYC and online payments, adding that India's digital data architecture will set the tone for business revival World over, data is becoming central to people and government. Data empowerment architecture in India will benefit all segments of the economy, he said.

Nilekani noted that Aadhaar e-KYC has been revolutionary in making life simpler for people and India now has the infrastructure to deal with direct benefits transfers (DBT) in any segment, adding that DBT can revive the power sector. He also said that Goods and Services Tax (GST) has increased the number of taxpayers.

The Times of India |

Aadhaar helped advance privacy laws, says Nandan Nilekani

Aadhaar has helped advance laws on privacy and pushed the debate forward, said Aadhaar architect and Infosys co-founder Nandan Nilekani at an FICCI event here on Monday.

He said data-privacy concerns and surveillance around Aadhaar are misplaced. On the 7.8 crore data breach in Telangana and Andhra Pradesh, he said, “I’m no longer a government employee. The last few months, I have been a private citizen. You should ask this question to people in the government.”

Asked if the data breaches point to a flaw in Aadhaar security, Nandan said, “I’ll stand by what I said earlier - Aadhar is the single most transformative revolution the country has seen.”

On creation of databases by unscrupulous elements using Aadhaar, he said, “Aadhar is not collecting data on you. It is a simple identity with a number for authentication. The privacy debate is much broader than Aadhaar. Today, you should be concerned more about the privacy of your mobile number, which multiple agencies have access to.”

“Of course, there are concerns around agencies collecting different datasets to form a combined database. With tokenisation, UIDAI has addressed the concerns. Today, private companies cannot view your Aadhaar number; they get only a token,” he said.

Nandan said activists are getting issues mixed up. He said, “There is a difference between commercialization of data and surveillance using data. When it comes to surveillance by the state, there are no such concerns around Aadhaar. When it comes to commercialization of data by private companies today, there are enough safeguards.”

At the event, Nandan spoke of digitization benefits across unrelated sectors too. “For instance, FASTags - issued by the National Payments Corporation of India for national tolls - could be used for dynamic parking charges during peak hours and congestion tax like in Singapore to unclog roads in Delhi and Bengaluru,” he said.

Gadgets Now |

Digital infra will help Indian economy grow, says Nandan Nilekani

Digital infrastructure would play a major role in reviving the Indian economy, Infosys Co-founder and Chairman Nandan Nilekani said on Monday.

"India's digital data architecture will set the tone for business revival. The country has witnessed a dramatic transformation through the Aadhaar-based, e-KYC (know your customer) and online payments," he said at apex business chamber FICCI's national executive committee meeting here.

Noting that data was becoming central to the people and governments the world over, Nilekani said there would be a big change once data became the basis for decision-making in many sectors.

"Data empowerment architecture will benefit all segments of the economy," he told the captains of commerce and industry on the topic 'Digital India and its impact on economy and industry'.

The architect of the 12-digit unique identity number Aadhaar for a whopping 120 crore Indian citizens said the Aadhaar e-KYC was revolutionary in making life simpler the people.

"The government has the infrastructure to deal with direct benefits transfers (DBT) in any segment. The facility can revive even the power sector," he said.

On the role of digital technology in tax mobilisation, he said the Goods and Services Tax Network (GSTN) was a great example of technology-led cooperative federalism.

"GST has increased the number of taxpayers. Radio Frequency Identification (RFID) tags linked to bank accounts is another big reform," he added.

Addressing a session on 'India's growing bio economy', biotechnology major Biocon's Chairperson Kiran Mazumdar-Shaw said the country's bio-economy sector was set to reach $200 billion by 2030.

"Bio-economy is a crucial segment of our economy and the new government must focus on this in a big way," she said.

Lamenting that the investment in research and development was less than 1 per cent of the Gross Domestic Product (GDP), Shaw said the government and the industry must invest 2 per cent of the GDP in science, technology and R&D.

Calling upon the education system to embrace research culture, she said its stakeholders should leverage the talent pool of scientists and engineers across the country.

"As the cost of gene sequencing has reduced substantially, the process can be utilised to diagnose critical diseases. Indian firms can benefit from the revolutionary process," she said.

Shaw also urged the commerce and industry apex body to take up the changes needed in the bio-diversity bill with the Union government.

Industrialist-cum-politician Rajeev Chandrasekhar urged the industry to play a pro-active role in making the country secure with a responsive governance structure.

"We have to ensure our safety and security. Though the reform process began five years ago, governance reforms with transparency will enhance efficiency of spending," Chandrasekhar, who is a BJP Rajya Sabha member, said.

"Digital empowerment has led to greater inclusiveness, with the government's efforts and private enterprises," said FICCI President Sandip Somany.

Bio Spectrum |

S&T research requires at least 2% GDP investment: Kiran Mazumdar Shaw

Sandeep Somany, President FICCI; Kiran Mazumdar Shaw, Chairperson, Biocon Limited; Sangita Reddy, Sr Vice President FICCI at FICCI NCM

Co-founder and Chairman of Infosys Technologies, Mr Nandan Nilekani has said that India’s digital infrastructure will play a major role in reviving the economy.

Mr Nilekani was addressing FICCI members at the National Executive Committee Meeting on ‘Digital India and its Impact on Economy and Industry’.

He said that the country has witnessed dramatic transformation through Aadhaar-based e-KYC and online payments, adding that India’s digital data architecture will set the tone for business revival. “Once data becomes the basis for decision-making in many sectors, you will see a big change,” said Mr Nilekani.

Earlier, addressing a session on ‘India’s Growing Bio Economy’, Ms Kiran Mazumdar Shaw, Chairperson, Biocon Ltd, said that the country’s Bio-economy sector is set to reach USD 200 billion by 2030.

“Bio-economy is a crucial segment of our economy and the new government must focus on this in a big way,” she said.

Pointing out that in India, the investment in research and development is less than 1% of GDP, Ms Shaw said, “we must invest at least 2% of our GDP in science, technology and research”.

She said that our education system must embrace research culture and we must leverage the powerful tool of scientists and engineers available in the country.

Ms Shaw also said that gene sequencing cost has come down substantially, which can be utilised for diagnosis of critical disease and in other areas — Indian companies can hugely benefit from gene sequencing.

She also urged FICCI to take up the changes required in the Bio-diversity Bill with the government.

In another session, Mr Rajeev Chandrashekhar, MP and Past President, FICCI, said that industry must play an important role in the deliberations on a secure India and a responsive governance structure.

“We have to independently ensure our safety and security,” he said. Mr Chandrashekhar also said that, in another critical area, the process of reforms in governance started in 2014, and added that, “governance reforms with increased transparency will enhance efficiency of spending”.

Mr Sandip Somany, President, FICCI in his opening remarks for the three sessions, talked about the contributions of the three speakers in their respective domains and also the challenges faced by these areas. “Digital empowerment has led to greater inclusiveness, with the efforts of government as well as several private sector enterprises,” while welcoming Mr. Nandan Nilekani.

Ms Sangita Reddy, Senior Vice-President, FICCI, and Mr. K Ullas Kamath, Chairman, FICCI Karnataka State Council, gave the vote of thanks.

India Education Diary |

India's digital infrastructure will revive the economy: Nandan Nilekani at FICCI NECM

Co-founder and Chairman of Infosys Technologies, Mr Nandan Nilekani today said that India’s digital infrastructure will play a major role in reviving the economy.

Mr Nilekani was addressing FICCI members at the National Executive Committee Meeting on ‘Digital India and its Impact on Economy and Industry’.

He said that the country has witnessed dramatic transformation through Aadhaar-based e-KYC and online payments, adding that India’s digital data architecture will set the tone for business revival. “Once data becomes the basis for decision-making in many sectors, you will see a big change,” said Mr Nilekani.

“World over, data is becoming central to people and government. Data empowerment architecture in India will benefit all segments of the economy,” he said.

Mr Nilekani said that Aadhaar e-KYC has been revolutionary in making life simpler for people and India now has the infrastructure to deal with direct benefits transfers (DBT) in any segment, adding that DBT can revive the power sector.

Mr Nilekani also said that Goods and Services Tax (GST) has increased the number of taxpayers. “GSTN is a great example of technology-led co-operative federalism,” he said and also added that RFID tags linked to bank accounts is another big reform.

Earlier, addressing a session on ‘India’s Growing Bio Economy’, Ms Kiran Mazumdar Shaw, Chairperson, Biocon Ltd, said that the country’s Bio-economy sector is set to reach USD 200 billion by 2030.

“Bio-economy is a crucial segment of our economy and the new government must focus on this in a big way,” she said.

Pointing out that in India, the investment in research and development is less than 1% of GDP, Ms Shaw said, “we must invest at least 2% of our GDP in science, technology and research”.

She said that our education system must embrace research culture and we must leverage the powerful tool of scientists and engineers available in the country.

Ms Shaw also said that gene sequencing cost has come down substantially, which can be utilised for diagnosis of critical disease and in other areas — Indian companies can hugely benefit from gene sequencing.

She also urged FICCI to take up the changes required in the Bio-diversity Bill with the government.

In another session, Mr Rajeev Chandrashekhar, MP and Past President, FICCI, said that industry must play an important role in the deliberations on a secure India and a responsive governance structure.

“We have to independently ensure our safety and security,” he said. Mr Chandrashekhar also said that, in another critical area, the process of reforms in governance started in 2014, and added that, “governance reforms with increased transparency will enhance efficiency of spending”.

Mr Sandip Somany, President, FICCI in his opening remarks for the three sessions, talked about the contributions of the three speakers in their respective domains and also the challenges faced by these areas. “Digital empowerment has led to greater inclusiveness, with the efforts of government as well as several private sector enterprises,” while welcoming Mr. Nandan Nilekani.

Ms Sangita Reddy, Senior Vice-President, FICCI, and Mr. K Ullas Kamath, Chairman, FICCI Karnataka State Council, gave the vote of thanks.

rediff.com |

Data privacy a major concern in India: Nandan Nilekani

Nandan Nilekani, the technology billionaire who was the first chairperson of the Unique Identific­ation Authority of India (UIDAI), the parent organisation for Aad­haar, on Monday said data privacy is a major concern in the country.

Also, there is a need to make sure that people are protected as much as possible both legally and technologically, he added.

“I think it is something we should take cognizance of and we should be concerned about,” said Nilekani at an event organised by trade body FICCI.

When asked if Aadhaar could be misused referring to the Supreme Court case, Nilekani said the case was fought on multiple dimensions and there were many arguments including data privacy.

Data privacy, he said, is a broader argument beyond Aadhaar as it includes everything such as issues related to mobile phones and social media data.

Aadhaar is a relatively much simpler system because privacy problem becomes more acute when organisations collect personal data about people, while Aadhaar was never about collating that information, according to Nilekani.

“It was about giving identity and doing the verification,” he said.

However, one of the concerns was that if Aadhaar number becomes ubiquitous and is used in multiple applications, then the number would go into every database and somebody can combine the databases.

But Nilekani said private companies can’t store the Aadhaar number. Instead, they need to use virtual ID (VID) and UID token as a substitute of Aadhaar number for the purpose of authentication.

“A lot of features are there for privacy,” he said.

When asked if it makes sense to have ‘personal digital security’ as part of the curriculum in the schools, as children are growing up in a digital ambience, Nilekani said, some basic hygiene of digital security should be there.

Nilekani’s data privacy comments come at a time when the enterprises across the country are witnessing cases of sensitive data exposure risks and breaches as services are rapidly getting digitalised.

In February, French resea­rcher Robert Baptiste, who goes by the online handle Elliot Alderson, claimed he found a security breach that allegedly exposed millions of Aadhaar numbers of dealers and distributors associated with Ind­ane, owned by Indian Oil Corporation.

Greater Kashmir |

'Aadhaar just an ID'

Infosys co-founder and former Unique Identification Authority of India chairman Nandan Nilekani Monday said Aadhaar did not qualify as a tool for surveillance and privacy and it was just an ID.

Defending Aadhaar, the Infosys co-founder said it never collected data on individual.

“It (Aadhaar) is a much simpler system because the privacy problem becomes more acute when there is an organisation collecting data on you. Aadhaar was never collecting data on you.

All that Aadhaar was doing was giving an ID and doing verification. So, it is not really a great candidate for this (surveillance),” Nilekani said.

According to him, privacy is different from surveillance.

“…Especially privacy is used in the market sense where a business is not too much about you and, therefore, you can commercialise it,” Nilekani said during an interactive session at the National Executive Committee meeting of Federation of Indian Chambers of Commerce and Industries here.

Elaborating further, Nilekani said surveillance was more a state concern, in which state knows too much about the individuals and then uses it.

After his lecture was over, someone from the audience sought to know how real is the threat of people losing their identity and details becoming known to the world.

Replying to the question, Nilekani said surveillance should be a matter of concern.

However, it is not just Aadhaar but a host of things, he pointed out.

In this context, Nilekani said mobile phone qualified on keeping a tab on any individuals privacy because it is with people round the clock and listens to every conversation.

Acknowledging the concern that if Aadhaar becomes ubiquitous, is used in multiple applications and then somebody combines them, Nilekani said the important feature of the ID system is that private firms cannot store the Aadhaar number.

He, however, welcomed the debate on Aadhaar as it led to the fundamental question whether Indians have the fundamental rights to privacy or not and the matter went to the Supreme Court.

Devdiscourse |

Nandan says Aadhaar is just an ID

Infosys co-founder and former Unique Identification Authority of India chairman Nandan Nilekani Monday said Aadhaar did not qualify as a tool for surveillance and privacy and it was just an ID. Defending Aadhaar, the Infosys co-founder said it never collected data on an individual.

"It (Aadhaar) is a much simpler system because the privacy problem becomes more acute when there is an organisation collecting data on you. Aadhaar was never collecting data on you. All that Aadhaar was doing was giving an ID and doing the verification. So, it is not really a great candidate for this (surveillance)," Nilekani said.

According to him, privacy is different from surveillance. "...Especially privacy is used in the market sense where a business is not too much about you and, therefore, you can commercialise it," Nilekani said during an interactive session at the National Executive Committee meeting of Federation of Indian Chambers of Commerce and Industries here.

Elaborating further, Nilekani said surveillance was more a state concern, in which state knows too much about the individuals and then uses it. After his lecture was over, someone from the audience sought to know how real is the threat of people losing their identity and details becoming known to the world.

Replying to the question, Nilekani said surveillance should be a matter of concern. However, it is not just Aadhaar but a host of things, he pointed out.

In this context, Nilekani said mobile phone qualified on keeping a tab on any individuals privacy because it is with people round the clock and listens to every conversation. Acknowledging the concern that if Aadhaar becomes ubiquitous, is used in multiple applications and then somebody combines them, Nilekani said the important feature of the ID system is that private firms cannot store the Aadhaar number.

He, however, welcomed the debate on Aadhaar as it led to the fundamental question of whether Indians have the fundamental rights to privacy or not and the matter went to the Supreme Court.

exchange4media |

GSTN is a great example of technology-led cooperative federalism: Nandan Nilekani

Nandan Nilekani, Co-Founder and Chairman of Infosys Technologies spoke on ‘Digital India and its impact on Economy and Industry' addressing the Federation of Indian Chambers of Commerce & Industry (FICCI) members at the National Executive Committee Meeting in Bengaluru.

He said that India’s digital infrastructure will play a major role in reviving the economy.

Speaking on Aadhaar card and Direct Benefit Transfer (DBT), he said, “Aadhaar became the basis of Direct Benefit Transfer. When you open a bank account with Aadhaar ID it becomes an Aadhaar linked bank account and today we have 1 billion Aadhaar linked bank account and this provides the basis for DBT. This is the real-time system for the payments. India runs world’s largest cash transfer system today.”

He added, “The underlying technology for all the scheme is DBT. Now, we have infrastructure to do seamless payments to people’s accounts. DBT has unlocked the subsidy from the product. The subsidy of a product is put directly into the bank account which gives a boost to the banking system.”

He said that the country has witnessed dramatic transformation through Aadhaar-based e-KYC and online payments, adding that India’s digital data architecture will set the tone for business revival.

“Once data becomes the basis for decision-making in many sectors, you will see a big change,” said Nilekani.

“World over, data is becoming central to people and government. Data empowerment architecture in India will benefit all segments of the economy,” he said.

Nilekani said that Aadhaar e-KYC has been revolutionary in making life simpler for people and India now has the infrastructure to deal with DBT in any segment.

Nilekani also said that Goods and Services Tax (GST) has increased the number of taxpayers. “GSTN is a great example of technology-led co-operative federalism,” he said and also added that RFID tags linked to bank accounts is another big reform.

Speaking on the National Payment Corporation of India (NPCI) he said, “NPCI which is formed by the Reserve Bank of India has banks as shareholders. One of the big things NPCI has done in recent times is an ability to do instant credit to someone using a bank account, which is called immediate payment system. It’s a valuable system for Indians especially migrants.”

He further added, “Witnessing the growth of e-commerce and mobile payments, NPCI has developed a modern payment system called Unified Payment Interface (UPI). It’s a state of the art payment system which is real-time. It has been a tremendous success and has done a transaction of 800 Million last month. The design of UPI is a combination of banking system with innovation.”

The Economic Times |

Data empowerment will help all: Nandan Nilekani

Data is becoming central to people and governments across the world and data empowerment architecture in India would benefit all segments of the economy, said Nandan Nilekani, cofounder and chairman, Infosys. Nilekani was addressing FICCI members at the National Executive Committee Meeting on ‘Digital India and its Impact on Economy and Industry’ in Bengaluru.

Nilekani said Aadhaar has been a great enabler as a digital identity and India’s digital infrastructure would play a major role in reviving the economy. He said the country has witnessed dramatic transformation through Aadhaar-based eKYC and online payments.

“Once data becomes the basis for decision-making in many sectors, you will see a big change...Aadhaar was developed as the universal electronic KYC and this has been a very powerful feature. Today, both in the banking and telecom sector, the customer acquisition has been dramatically streamlined and sped up because of this eKYC. It has been a fundamental thing...All these things are really enabling people to do everything on the phone,” he said.

While Aadhaar eKYC has been revolutionary in making life simpler for people, it has been the basis for direct benefits transfers in any segment, he said.

Financial Express |

Infosys chairman Nandan Nilekani says data empowerment to benefit all segments of society

Infosys Technologies co-founder and chairman Nandan Nilekani on Monday said India’s digital infrastructure will play a major role in reviving its economy.

Nilekani was addressing members of the Federation of Indian Chambers of Commerce and Industry (FICCI) at the national executive committee meeting on ‘Digital India and its Impact on Economy and Industry’ held in Bengaluru.

He said the country has witnessed dramatic transformation through Aadhaar-based e-KYC and online payments, and added that India’s digital data architecture will set the tone for business revival. “Once data becomes the basis for decision-making in many sectors, you will see a big change,” Nilekani said.

“World over, data is becoming central to people and government. Data empowerment architecture in India will benefit all segments of the economy,” he added.

Business Standard |

Digital infra will revive Indian economy, says Nilekani

Digital infrastructure would play a major role in reviving the Indian economy, Infosys Co-founder and Chairman Nandan Nilekani said on Monday.

"India's digital data architecture will set the tone for business revival. The country has witnessed a dramatic transformation through the Aadhaar-based, e-KYC (know your customer) and online payments," he said at apex business chamber FICCI's national executive committee meeting here.

Noting that data was becoming central to the people and governments the world over, Nilekani said there would be a big change once data became the basis for decision-making in many sectors.

"Data empowerment architecture will benefit all segments of the economy," he told the captains of commerce and industry on the topic 'Digital India and its impact on economy and industry'.

The architect of the 12-digit unique identity number Aadhaar for a whopping 120 crore Indian citizens said the Aadhaar e-KYC was revolutionary in making life simpler the people.

"The government has the infrastructure to deal with direct benefits transfers (DBT) in any segment. The facility can revive even the power sector," he said.

On the role of digital technology in tax mobilisation, he said the Goods and Services Tax Network (GSTN) was a great example of technology-led cooperative federalism.

"GST has increased the number of taxpayers. Radio Frequency Identification (RFID) tags linked to bank accounts is another big reform," he added.

Addressing a session on 'India's growing bio economy', biotechnology major Biocon's Chairperson Kiran Mazumdar-Shaw said the country's bio-economy sector was set to reach $200 billion by 2030.

"Bio-economy is a crucial segment of our economy and the new government must focus on this in a big way," she said.

Lamenting that the investment in research and development was less than 1 per cent of the Gross Domestic Product (GDP), Shaw said the government and the industry must invest 2 per cent of the GDP in science, technology and R&D.

Calling upon the education system to embrace research culture, she said its stakeholders should leverage the talent pool of scientists and engineers across the country.

"As the cost of gene sequencing has reduced substantially, the process can be utilised to diagnose critical diseases. Indian firms can benefit from the revolutionary process," she said.

Shaw also urged the commerce and industry apex body to take up the changes needed in the bio-diversity bill with the Union government.

Industrialist-cum-politician Rajeev Chandrasekhar urged the industry to play a pro-active role in making the country secure with a responsive governance structure.

"We have to ensure our safety and security. Though the reform process began five years ago, governance reforms with transparency will enhance efficiency of spending," Chandrasekhar, who is a BJP Rajya Sabha member, said.

"Digital empowerment has led to greater inclusiveness, with the government's efforts and private enterprises," said FICCI President Sandip Somany.

ET Telecom |

Digital infra will revive Indian economy, says Nilekani

Digital infrastructure would play a major role in reviving the Indian economy, Infosys Co-founder and Chairman Nandan Nilekani said on Monday.

"India's digital data architecture will set the tone for business revival. The country has witnessed a dramatic transformation through the Aadhaar-based, e-KYC (know your customer) and online payments," he said at apex business chamber FICCI's national executive committee meeting here.

Noting that data was becoming central to the people and governments the world over, Nilekani said there would be a big change once data became the basis for decision-making in many sectors.

"Data empowerment architecture will benefit all segments of the economy," he told the captains of commerce and industry on the topic 'Digital India and its impact on economy and industry'.

The architect of the 12-digit unique identity number Aadhaar for a whopping 120 crore Indian citizens said the Aadhaar e-KYC was revolutionary in making life simpler the people.

"The government has the infrastructure to deal with direct benefits transfers (DBT) in any segment. The facility can revive even the power sector," he said.

On the role of digital technology in tax mobilisation, he said the Goods and Services Tax Network (GSTN) was a great example of technology-led cooperative federalism.

"GST has increased the number of taxpayers. Radio Frequency Identification (RFID) tags linked to bank accounts is another big reform," he added.

Addressing a session on 'India's growing bio economy', biotechnology major Biocon's Chairperson Kiran Mazumdar-Shaw said the country's bio-economy sector was set to reach $200 billion by 2030.

"Bio-economy is a crucial segment of our economy and the new government must focus on this in a big way," she said.

Lamenting that the investment in research and development was less than 1 per cent of the Gross Domestic Product (GDP), Shaw said the government and the industry must invest 2 per cent of the GDP in science, technology and R&D.

Calling upon the education system to embrace research culture, she said its stakeholders should leverage the talent pool of scientists and engineers across the country.

"As the cost of gene sequencing has reduced substantially, the process can be utilised to diagnose critical diseases. Indian firms can benefit from the revolutionary process," she said.

Shaw also urged the commerce and industry apex body to take up the changes needed in the bio-diversity bill with the Union government.

Industrialist-cum-politician Rajeev Chandrasekhar urged the industry to play a pro-active role in making the country secure with a responsive governance structure.

"We have to ensure our safety and security. Though the reform process began five years ago, governance reforms with transparency will enhance efficiency of spending," Chandrasekhar, who is a BJP Rajya Sabha member, said.

"Digital empowerment has led to greater inclusiveness, with the government's efforts and private enterprises," said FICCI President Sandip Somany.

Outlook |

Digital infra will revive Indian economy, says Nilekani

Digital infrastructure would play a major role in reviving the Indian economy, Infosys Co-founder and Chairman Nandan Nilekani said on Monday.

"India's digital data architecture will set the tone for business revival. The country has witnessed a dramatic transformation through the Aadhaar-based, e-KYC (know your customer) and online payments," he said at apex business chamber FICCI's national executive committee meeting here.

Noting that data was becoming central to the people and governments the world over, Nilekani said there would be a big change once data became the basis for decision-making in many sectors.

"Data empowerment architecture will benefit all segments of the economy," he told the captains of commerce and industry on the topic 'Digital India and its impact on economy and industry'.

The architect of the 12-digit unique identity number Aadhaar for a whopping 120 crore Indian citizens said the Aadhaar e-KYC was revolutionary in making life simpler the people.

"The government has the infrastructure to deal with direct benefits transfers (DBT) in any segment. The facility can revive even the power sector," he said.

On the role of digital technology in tax mobilisation, he said the Goods and Services Tax Network (GSTN) was a great example of technology-led cooperative federalism.

"GST has increased the number of taxpayers. Radio Frequency Identification (RFID) tags linked to bank accounts is another big reform," he added.

Addressing a session on 'India's growing bio economy', biotechnology major Biocon's Chairperson Kiran Mazumdar-Shaw said the country's bio-economy sector was set to reach $200 billion by 2030.

"Bio-economy is a crucial segment of our economy and the new government must focus on this in a big way," she said.

Lamenting that the investment in research and development was less than 1 per cent of the Gross Domestic Product (GDP), Shaw said the government and the industry must invest 2 per cent of the GDP in science, technology and R&D.

Calling upon the education system to embrace research culture, she said its stakeholders should leverage the talent pool of scientists and engineers across the country.

"As the cost of gene sequencing has reduced substantially, the process can be utilised to diagnose critical diseases. Indian firms can benefit from the revolutionary process," she said.

Shaw also urged the commerce and industry apex body to take up the changes needed in the bio-diversity bill with the Union government.

Industrialist-cum-politician Rajeev Chandrasekhar urged the industry to play a pro-active role in making the country secure with a responsive governance structure.

"We have to ensure our safety and security. Though the reform process began five years ago, governance reforms with transparency will enhance efficiency of spending," Chandrasekhar, who is a BJP Rajya Sabha member, said.

"Digital empowerment has led to greater inclusiveness, with the government's efforts and private enterprises," said FICCI President Sandip Somany.

Business Standard |

Digital infra will revive Indian economy, says Nilekani

Digital infrastructure would play a major role in reviving the Indian economy, Infosys Co-founder and Chairman Nandan Nilekani said on Monday.

"India's digital data architecture will set the tone for business revival. The country has witnessed a dramatic transformation through the Aadhaar-based, e-KYC (know your customer) and online payments," he said at apex business chamber FICCI's national executive committee meeting here.

Noting that data was becoming central to the people and governments the world over, Nilekani said there would be a big change once data became the basis for decision-making in many sectors.

"Data empowerment architecture will benefit all segments of the economy," he told the captains of commerce and industry on the topic 'Digital India and its impact on economy and industry'.

The architect of the 12-digit unique identity number Aadhaar for a whopping 120 crore Indian citizens said the Aadhaar e-KYC was revolutionary in making life simpler the people.

"The government has the infrastructure to deal with direct benefits transfers (DBT) in any segment. The facility can revive even the power sector," he said.

On the role of digital technology in tax mobilisation, he said the Goods and Services Tax Network (GSTN) was a great example of technology-led cooperative federalism.

"GST has increased the number of taxpayers. Radio Frequency Identification (RFID) tags linked to bank accounts is another big reform," he added.

Addressing a session on 'India's growing bio economy', biotechnology major Biocon's Chairperson Kiran Mazumdar-Shaw said the country's bio-economy sector was set to reach $200 billion by 2030.

"Bio-economy is a crucial segment of our economy and the new government must focus on this in a big way," she said.

Lamenting that the investment in research and development was less than 1 per cent of the Gross Domestic Product (GDP), Shaw said the government and the industry must invest 2 per cent of the GDP in science, technology and R&D.

Calling upon the education system to embrace research culture, she said its stakeholders should leverage the talent pool of scientists and engineers across the country.

"As the cost of gene sequencing has reduced substantially, the process can be utilised to diagnose critical diseases. Indian firms can benefit from the revolutionary process," she said.

Shaw also urged the commerce and industry apex body to take up the changes needed in the bio-diversity bill with the Union government.

Industrialist-cum-politician Rajeev Chandrasekhar urged the industry to play a pro-active role in making the country secure with a responsive governance structure.

"We have to ensure our safety and security. Though the reform process began five years ago, governance reforms with transparency will enhance efficiency of spending," Chandrasekhar, who is a BJP Rajya Sabha member, said.

"Digital empowerment has led to greater inclusiveness, with the government's efforts and private enterprises," said FICCI President Sandip Somany.

The New Indian Express |

Aadhaar just an ID, says Nandan Nilekani

Infosys co-founder and former Unique Identification Authority of India chairman Nandan Nilekani Monday said Aadhaar did not qualify as a tool for surveillance and privacy and it was just an ID.

Defending Aadhaar, the Infosys co-founder said it never collected data on individual.

"It (Aadhaar) is a much simpler system because the privacy problem becomes more acute when there is an organisation collecting data on you. Aadhaar was never collecting data on you. All that Aadhaar was doing was giving an ID and doing verification. So, it is not really a great candidate for this (surveillance)," Nilekani said.

According to him, privacy is different from surveillance.

"Especially privacy is used in the market sense where a business is not too much about you and, therefore, you can commercialise it," Nilekani said during an interactive session at the National Executive Committee meeting of Federation of Indian Chambers of Commerce and Industries here.

Elaborating further, Nilekani said surveillance was more a state concern, in which state knows too much about the individuals and then uses it.

After his lecture was over, someone from the audience sought to know how real is the threat of people losing their identity and details becoming known to the world.

Replying to the question, Nilekani said surveillance should be a matter of concern.

However, it is not just Aadhaar but a host of things, he pointed out.

In this context, Nilekani said mobile phone qualified on keeping a tab on any individuals privacy because it is with people round the clock and listens to every conversation.

Acknowledging the concern that if Aadhaar becomes ubiquitous, is used in multiple applications and then somebody combines them, Nilekani said the important feature of the ID system is that private firms cannot store the Aadhaar number.

He, however, welcomed the debate on Aadhaar as it led to the fundamental question whether Indians have the fundamental rights to privacy or not and the matter went to the Supreme Court.

Press Trust of India |

Aadhaar just an ID, says Nandan Nilekani

Infosys co-founder and former Unique Identification Authority of India chairman Nandan Nilekani Monday said Aadhaar did not qualify as a tool for surveillance and privacy and it was just an ID.

Defending Aadhaar, the Infosys co-founder said it never collected data on individual.

"It (Aadhaar) is a much simpler system because the privacy problem becomes more acute when there is an organisation collecting data on you. Aadhaar was never collecting data on you.

All that Aadhaar was doing was giving an ID and doing verification. So, it is not really a great candidate for this (surveillance)," Nilekani said.

According to him, privacy is different from surveillance.

"...Especially privacy is used in the market sense where a business is not too much about you and, therefore, you can commercialise it," Nilekani said during an interactive session at the National Executive Committee meeting of Federation of Indian Chambers of Commerce and Industries here.

Elaborating further, Nilekani said surveillance was more a state concern, in which state knows too much about the individuals and then uses it.

After his lecture was over, someone from the audience sought to know how real is the threat of people losing their identity and details becoming known to the world.

Replying to the question, Nilekani said surveillance should be a matter of concern.

However, it is not just Aadhaar but a host of things, he pointed out.

In this context, Nilekani said mobile phone qualified on keeping a tab on any individuals privacy because it is with people round the clock and listens to every conversation.

Acknowledging the concern that if Aadhaar becomes ubiquitous, is used in multiple applications and then somebody combines them, Nilekani said the important feature of the ID system is that private firms cannot store the Aadhaar number.

He, however, welcomed the debate on Aadhaar as it led to the fundamental question whether Indians have the fundamental rights to privacy or not and the matter went to the Supreme Court.

Orissa Post |

Aadhaar just an ID: Nandan Nilekani

Infosys co-founder and former Unique Identification Authority of India chairman Nandan Nilekani Monday said Aadhaar did not qualify as a tool for surveillance and privacy and it was just an ID.

Defending Aadhaar, the Infosys co-founder said it never collected data on individual.

“It (Aadhaar) is a much simpler system because the privacy problem becomes more acute when there is an organisation collecting data on you. Aadhaar was never collecting data on you.

“All that Aadhaar was doing was giving an ID and doing verification. So, it is not really a great candidate for this (surveillance),” Nilekani said.

According to him, privacy is different from surveillance.

“…Especially privacy is used in the market sense where a business is not too much about you and, therefore, you can commercialise it,” Nilekani said during an interactive session at the National Executive Committee meeting of Federation of Indian Chambers of Commerce and Industries here.

Elaborating further, Nilekani said surveillance was more a state concern, in which state knows too much about the individuals and then uses it.

After his lecture was over, someone from the audience sought to know how real is the threat of people losing their identity and details becoming known to the world.

Replying to the question, Nilekani said surveillance should be a matter of concern.

However, it is not just Aadhaar but a host of things, he pointed out.

In this context, Nilekani said mobile phone qualified on keeping a tab on any individual’s privacy because it is with people round the clock and listens to every conversation.

Acknowledging the concern that if Aadhaar becomes ubiquitous, is used in multiple applications and then somebody combines them, Nilekani said the important feature of the ID system is that private firms cannot store the Aadhaar number.

He, however, welcomed the debate on Aadhaar as it led to the fundamental question whether Indians have the fundamental rights to privacy or not and the matter went to the Supreme Court.

SME Times |

Digital infrastructure will revive Indian economy: Nilekani

India's digital infrastructure will play a major role in reviving the economy, said co-founder and Chairman of Infosys Technologies, Nandan Nilekani on Monday.

Nilekani was addressing FICCI members at the National Executive Committee Meeting on 'Digital India and its Impact on Economy and Industry' in Bengaluru.

He said that the country has witnessed dramatic transformation through Aadhaar-based e-KYC and online payments, adding that India's digital data architecture will set the tone for business revival. "Once data becomes the basis for decision-making in many sectors, you will see a big change," said Nilekani.

"World over, data is becoming central to people and government. Data empowerment architecture in India will benefit all segments of the economy," he said.

Nilekani said that Aadhaar e-KYC has been revolutionary in making life simpler for people and India now has the infrastructure to deal with direct benefits transfers (DBT) in any segment, adding that DBT can revive the power sector.

He also said that Goods and Services Tax (GST) has increased the number of taxpayers. "GSTN is a great example of technology-led co-operative federalism," he said and also added that RFID tags linked to bank accounts is another big reform.

Earlier, addressing a session on 'India's Growing Bio Economy', Kiran Mazumdar Shaw, Chairperson, Biocon Ltd, said that the country’s Bio-economy sector is set to reach USD 200 billion by 2030.

"Bio-economy is a crucial segment of our economy and the new government must focus on this in a big way," she said.

Pointing out that in India, the investment in research and development is less than 1% of GDP, Shaw said, "we must invest at least 2% of our GDP in science, technology and research".

She said that our education system must embrace research culture and we must leverage the powerful tool of scientists and engineers available in the country.

Shaw also said that gene sequencing cost has come down substantially, which can be utilised for diagnosis of critical disease and in other areas - Indian companies can hugely benefit from gene sequencing.

She also urged FICCI to take up the changes required in the Bio-diversity Bill with the government.

In another session, Rajeev Chandrashekhar, MP and Past President, FICCI, said that industry must play an important role in the deliberations on a secure India and a responsive governance structure.

"We have to independently ensure our safety and security," he said. Chandrashekhar also said that, in another critical area, the process of reforms in governance started in 2014, and added that, "governance reforms with increased transparency will enhance efficiency of spending".

Sandip Somany, President, FICCI in his opening remarks for the three sessions, talked about the contributions of the three speakers in their respective domains and also the challenges faced by these areas.

"Digital empowerment has led to greater inclusiveness, with the efforts of government as well as several private sector enterprises," he said while welcoming Mr Nandan Nilekani.

Deccan Herald |

Aadhaar just an ID, says Nandan Nilekani

Infosys co-founder and former Unique Identification Authority of India chairman Nandan Nilekani Monday said Aadhaar did not qualify as a tool for surveillance and privacy and it was just an ID.

Defending Aadhaar, the Infosys co-founder said it never collected data on an individual. "It (Aadhaar) is a much simpler system because the privacy problem becomes more acute when there is an organisation collecting data on you. Aadhaar was never collecting data on you. All that Aadhaar was doing was giving an ID and doing verification. So, it is not really a great candidate for this (surveillance)," Nilekani said. According to him, privacy is different from surveillance. "...Especially privacy is used in the market sense where a business is not too much about you and, therefore, you can commercialise it," Nilekani said during an interactive session at the National Executive Committee meeting of Federation of Indian Chambers of Commerce and Industries here.

Elaborating further, Nilekani said surveillance was more a state concern, in which state knows too much about the individuals and then uses it.

After his lecture was over, someone from the audience sought to know how real is the threat of people losing their identity and details becoming known to the world.

Replying to the question, Nilekani said surveillance should be a matter of concern.

However, it is not just Aadhaar but a host of things, he pointed out.

In this context, Nilekani said mobile phone qualified on keeping a tab on any individual's privacy because it is with people round the clock and listens to every conversation.

Acknowledging the concern that if Aadhaar becomes ubiquitous, is used in multiple applications and then somebody combines them, Nilekani said the important feature of the ID system is that private firms cannot store the Aadhaar number.

He, however, welcomed the debate on Aadhaar as it led to the fundamental question of whether Indians have the fundamental rights to privacy or not and the matter went to the Supreme Court.

dailyhunt |

Aadhaar just an ID, says Nandan Nilekani

Infosys co-founder and former Unique Identification Authority of India chairman Nandan Nilekani Monday said Aadhaar did not qualify as a tool for surveillance and privacy and it was just an ID.

Defending Aadhaar, the Infosys co-founder said it never collected data on individual.

"It (Aadhaar) is a much simpler system because the privacy problem becomes more acute when there is an organisation collecting data on you. Aadhaar was never collecting data on you.

All that Aadhaar was doing was giving an ID and doing verification. So, it is not really a great candidate for this (surveillance)," Nilekani said.

According to him, privacy is different from surveillance.

"...Especially privacy is used in the market sense where a business is not too much about you and, therefore, you can commercialise it," Nilekani said during an interactive session at the National Executive Committee meeting of Federation of Indian Chambers of Commerce and Industries here.

Elaborating further, Nilekani said surveillance was more a state concern, in which state knows too much about the individuals and then uses it.

After his lecture was over, someone from the audience sought to know how real is the threat of people losing their identity and details becoming known to the world.

Replying to the question, Nilekani said surveillance should be a matter of concern.

However, it is not just Aadhaar but a host of things, he pointed out.

In this context, Nilekani said mobile phone qualified on keeping a tab on any individuals privacy because it is with people round the clock and listens to every conversation.

Acknowledging the concern that if Aadhaar becomes ubiquitous, is used in multiple applications and then somebody combines them, Nilekani said the important feature of the ID system is that private firms cannot store the Aadhaar number.

He, however, welcomed the debate on Aadhaar as it led to the fundamental question whether Indians have the fundamental rights to privacy or not and the matter went to the Supreme Court.

The Economic Times |

Aadhaar just an ID, says Nandan Nilekani

Infosys co-founder and former Unique Identification Authority of India chairman Nandan Nilekani Monday said Aadhaar did not qualify as a tool for surveillance and privacy and it was just an ID.

Defending Aadhaar, the Infosys co-founder said it never collected data on individual.

"It (Aadhaar) is a much simpler system because the privacy problem becomes more acute when there is an organisation collecting data on you. Aadhaar was never collecting data on you.

All that Aadhaar was doing was giving an ID and doing verification. So, it is not really a great candidate for this (surveillance)," Nilekani said.

According to him, privacy is different from surveillance.

"...Especially privacy is used in the market sense where a business is not too much about you and, therefore, you can commercialise it," Nilekani said during an interactive session at the National Executive Committee meeting of Federation of Indian Chambers of Commerce and Industries here.

Elaborating further, Nilekani said surveillance was more a state concern, in which state knows too much about the individuals and then uses it.

After his lecture was over, someone from the audience sought to know how real is the threat of people losing their identity and details becoming known to the world.

Replying to the question, Nilekani said surveillance should be a matter of concern.

However, it is not just Aadhaar but a host of things, he pointed out.

In this context, Nilekani said mobile phone qualified on keeping a tab on any individuals privacy because it is with people round the clock and listens to every conversation.

Acknowledging the concern that if Aadhaar becomes ubiquitous, is used in multiple applications and then somebody combines them, Nilekani said the important feature of the ID system is that private firms cannot store the Aadhaar number.

He, however, welcomed the debate on Aadhaar as it led to the fundamental question whether Indians have the fundamental rights to privacy or not and the matter went to the Supreme Court.

Business Standard |

Need to protect people's data legally and technologically: Nandan Nilekani

Nandan Nilekani, the technology billionaire who was the first chairperson of the Unique Identification Authority of India (UIDAI), the parent organisation for Aadhaar, said on Monday that data privacy is a major concern area in the country and there is a need to make sure that people are protected as much as possible both legally and technologically. “I think it is something we should take cognizance of and we should be concerned about,” said Nilekani at an event organised by trade body FICCI.

When asked if Aadhaar could be misused referring to the Supreme Court case, Nilekani said the case was fought on multiple dimensions and there were many arguments including data privacy. Data privacy, he said, is a broader argument beyond Aadhaar as it includes everything such as issues related to mobile phones and social media data.

Aadhaar is a relatively much simpler system because the privacy problem becomes more acute when organisations collect personal data about people, while Aadhaar was never about collating that information, according to Nilekani. “It was about giving identity and doing the verification,” he said.

However, one of the concerns was that if Aadhaar number becomes ubiquitous and is used in multiple applications, then the number would go into every database and somebody can combine the databases. But Nilekani said private companies can’t store the Aadhaar number. Instead, they need to use virtual ID (VID) and UID token as a substitute of Aadhaar number for the purpose of authentication. “A lot of features are there for privacy,” he said.

When asked if it makes sense to have ‘personal digital security’ as part of the curriculum in the schools, as children are growing up in a digital ambience, Nilekani said, some basic hygiene of digital security should be there.

Nilekani’s data privacy comments come at a time when the enterprises across the country are witnessing increasing cases of sensitive data exposure risks and breaches as services are rapidly getting digitalised. In February, French researcher Robert Baptiste, who goes by the online handle Elliot Alderson, claimed that he found a security breach that allegedly exposed millions of Aadhaar numbers of dealers and distributors associated with Indane, an LPG brand owned by the Indian Oil Corporation (IOC).

Last week it was revealed that local search provider Justdial’s website was exposed which made the personal information of 100 million users “publicly accessible.” This included information such as names, email IDs, mobile numbers, genders, date of births, addresses, photos and occupations of the users. KrebsOnSecurity, a website about cybersecurity, reported last week that hackers had compromised IT services firm Wipro’s systems and used them to launch attacks on some of its clients. It also reported that cyber attackers may have targeted IT majors Infosys, Capgemini and Cognizant to access data of third-party company resources.

Besides data privacy, there are also concerns about the surveillance state. “I think that (surveillance) is a concern we should have... somebody can listen to your conversations,” added Nilekani.

In China, there is ‘Social Credit System’ proposed by the Chinese government for creating a national reputation system to rate the trustworthiness of its citizens including their economic and social status. It works as a mass surveillance tool and uses big data and analytics technology.

The Times of India |

Aadhaar just an ID; much simpler system: Former UIDAI chief Nandan Nilekani

Infosys co-founder and former Unique Identification Authority of India (UIDAI) chairman Nandan Nilekani on Monday said Aadhaar did not qualify as a tool for surveillance and privacy and it was just an ID.

Defending Aadhaar, the Infosys co-founder said it never collected data on individual.

"It (Aadhaar) is a much simpler system because the privacy problem becomes more acute when there is an organisation collecting data on you. Aadhaar was never collecting data on you.

All that Aadhaar was doing was giving an ID and doing verification. So, it is not really a great candidate for this (surveillance)," Nilekani said.

According to him, privacy is different from surveillance.

"...Especially privacy is used in the market sense where a business is not too much about you and, therefore, you can commercialise it," Nilekani said during an interactive session at the national executive committee meeting of Federation of Indian Chambers of Commerce and Industries here.

Elaborating further, Nilekani said surveillance was more a state concern, in which state knows too much about the individuals and then uses it.

After his lecture was over, someone from the audience sought to know how real is the threat of people losing their identity and details becoming known to the world.

Replying to the question, Nilekani said surveillance should be a matter of concern.

However, it is not just Aadhaar but a host of things, he pointed out.

In this context, Nilekani said mobile phone qualified on keeping a tab on any individuals privacy because it is with people round the clock and listens to every conversation.

Acknowledging the concern that if Aadhaar becomes ubiquitous, used in multiple applications and then somebody combines them, Nilekani said the important feature of the ID system is that private firms cannot store the Aadhaar number.

He, however, welcomed the debate on Aadhaar as it led to the fundamental question whether Indians have the fundamental rights to privacy or not and the matter went to the Supreme Court.

The Hindu |

'Digital infra to play key role in reviving economy'

The Aadhaar has worked as a digital infrastructure backbone helping governments in India to roll out several real-time initiatives and service delivery capabilities for citizens and enterprises alike, said Nandan Nilekani, chief architect of Aadhaar and co-founder and chairman, Infosys.

The Aadhaar, serving as an electronic know-your-customer (KYC) tool, has triggered massive customer additions in the country’s financial and telecom sectors and similar explosive growth is expected across other segments as well in the years to come, said Mr. Nilekani at FICCI’s National Executive Committee Meeting here on Monday.

Data central to citizens

“Once data becomes the basis for decision-making across businesses, the country will witness dramatic transformation and growth. Data, globally, is becoming central to individual citizens and governments. We have witnessed dramatic transformation through Aadhaar-based e-KYC and online payments and our existing digital infrastructure will play a key role in reviving the economy,” he said.

He further said that with Aadhaar, many elements of the digital infrastructure have been created. “[Aadhaar is] now critical for you to open a bank account, to get a mobile connection or to buy a mutual fund.

Earlier, KYC used to be a cumbersome process, and therefore, opening a bank account or getting a new phone connection used to be a tough affair. Also, with digital signature becoming a reality, identity verification and other credential checks are now being done real-time and as a result, banks are able to sanction loans in hours.”

The country already has over a billion bank accounts that are Aadhaar number linked. It makes transferring of funds easier and the country conducts over four billions financial transactions. In addition, Aadhaar based e-KYC made LPG subsidies, MNREGA payments, farmer subsidies and pensions corruption-free and seamless. For all these, the underlying technology is Aadhaar, Mr. Nilekani added.

On the benefits of technology for business, he said, the Goods and Services Tax has increased the number of taxpayers. “GSTN is a great example of technology-led co-operative federalism.”

Mr. Nilekani said, Aadhaar e-KYC has been revolutionary in making life simpler for people and India now has the infrastructure to deal with direct benefits transfers (DBT) in any segment, adding that DBT can revive the power sector.

live mint |

India's digital infrastructure will revive economy: Nilekani

Co-founder and Chairman of Infosys Technologies, Nandan Nilekani, said on Monday that India’s digital infrastructure will play a major role in reviving the economy. He was addressing FICCI members at the National Executive Committee Meeting on ‘Digital India and its Impact on Economy and Industry’ in Bengaluru.

According to Nilekani, the country has witnessed dramatic transformation through Aadhaar-based e-KYC and online payments, and India’s digital data architecture will set the tone for business revival. “Once data becomes the basis for decision-making in many sectors, you will see a big change," Nilekani said.

Nilekani believes that Aadhaar e-KYC has been "revolutionary" in making life simpler for people and India now has the infrastructure to deal with direct benefits transfers (DBT) in any segment. He added that DBT can revive the power sector.

According to Nilekani, the Goods and Services Tax (GST) has increased the number of taxpayers. “GSTN is a great example of technology-led co-operative federalism," he said, adding that radio frequency identification (RFID) tags linked to bank accounts is another big reform.

Speaking on the occasion, Kiran Mazumdar Shaw, Chairperson of Biocon Ltd, said the country’s bio-economy sector is set to reach $200 billion by 2030. “Bio-economy is a crucial segment of our economy and the new government must focus on this in a big way," she said.

Pointing out that in India, investment in research and development is less than 1% of GDP, Shaw recommended that the country must invest at least 2% of our GDP in science, technology and research. According to Shaw, our education system must embrace research culture and we must leverage the powerful tool of scientists and engineers available in the country.

Shaw also pointed out that gene sequencing cost has come down substantially, which can be utilised for diagnosis of critical disease and in other areas. She urged FICCI to take up the changes required in the Bio-diversity Bill with the government.

The New Indian Express |

Aadhaar just an ID, says Nandan Nilekani

Infosys co-founder and former Unique Identification Authority of India chairman Nandan Nilekani Monday said Aadhaar did not qualify as a tool for surveillance and privacy and it was just an ID.

Defending Aadhaar, the Infosys co-founder said it never collected data on individual.

"It (Aadhaar) is a much simpler system because the privacy problem becomes more acute when there is an organisation collecting data on you. Aadhaar was never collecting data on you. All that Aadhaar was doing was giving an ID and doing verification. So, it is not really a great candidate for this (surveillance)," Nilekani said.

According to him, privacy is different from surveillance.

"Especially privacy is used in the market sense where a business is not too much about you and, therefore, you can commercialise it," Nilekani said during an interactive session at the National Executive Committee meeting of Federation of Indian Chambers of Commerce and Industries here.

Elaborating further, Nilekani said surveillance was more a state concern, in which state knows too much about the individuals and then uses it.

After his lecture was over, someone from the audience sought to know how real is the threat of people losing their identity and details becoming known to the world.

Replying to the question, Nilekani said surveillance should be a matter of concern.

However, it is not just Aadhaar but a host of things, he pointed out.

In this context, Nilekani said mobile phone qualified on keeping a tab on any individuals privacy because it is with people round the clock and listens to every conversation.

Acknowledging the concern that if Aadhaar becomes ubiquitous, is used in multiple applications and then somebody combines them, Nilekani said the important feature of the ID system is that private firms cannot store the Aadhaar number.

He, however, welcomed the debate on Aadhaar as it led to the fundamental question whether Indians have the fundamental rights to privacy or not and the matter went to the Supreme Court.

Business Standard |

Aadhaar just an ID, says Nandan Nilekani

Infosys co-founder and former Unique Identification Authority of India chairman Nandan Nilekani Monday said Aadhaar did not qualify as a tool for surveillance and privacy and it was just an ID.

Defending Aadhaar, the Infosys co-founder said it never collected data on individual.

"It (Aadhaar) is a much simpler system because the privacy problem becomes more acute when there is an organisation collecting data on you. Aadhaar was never collecting data on you.

All that Aadhaar was doing was giving an ID and doing verification. So, it is not really a great candidate for this (surveillance)," Nilekani said.

According to him, privacy is different from surveillance.

"...Especially privacy is used in the market sense where a business is not too much about you and, therefore, you can commercialise it," Nilekani said during an interactive session at the National Executive Committee meeting of Federation of Indian Chambers of Commerce and Industries here.

Elaborating further, Nilekani said surveillance was more a state concern, in which state knows too much about the individuals and then uses it.

After his lecture was over, someone from the audience sought to know how real is the threat of people losing their identity and details becoming known to the world.

Replying to the question, Nilekani said surveillance should be a matter of concern.

However, it is not just Aadhaar but a host of things, he pointed out.

In this context, Nilekani said mobile phone qualified on keeping a tab on any individuals privacy because it is with people round the clock and listens to every conversation.

Acknowledging the concern that if Aadhaar becomes ubiquitous, is used in multiple applications and then somebody combines them, Nilekani said the important feature of the ID system is that private firms cannot store the Aadhaar number.

He, however, welcomed the debate on Aadhaar as it led to the fundamental question whether Indians have the fundamental rights to privacy or not and the matter went to the Supreme Court.

Business Standard |

Need to protect people's data legally and technologically: Nandan Nilekani

Nandan Nilekani, the technology billionaire who was the first chairperson of the Unique Identification Authority of India (UIDAI), the parent organisation for Aadhaar, said on Monday that data privacy is a major concern area in the country and there is a need to make sure that people are protected as much as possible both legally and technologically. “I think it is something we should take cognizance of and we should be concerned about,” said Nilekani at an event organised by trade body FICCI.

When asked if Aadhaar could be misused referring to the Supreme Court case, Nilekani said the case was fought on multiple dimensions and there were many arguments including data privacy. Data privacy, he said, is a broader argument beyond Aadhaar as it includes everything such as issues related to mobile phones and social media data.

Aadhaar is a relatively much simpler system because the privacy problem becomes more acute when organisations collect personal data about people, while Aadhaar was never about collating that information, according to Nilekani. “It was about giving identity and doing the verification,” he said.

However, one of the concerns was that if Aadhaar number becomes ubiquitous and is used in multiple applications, then the number would go into every database and somebody can combine the databases. But Nilekani said private companies can’t store the Aadhaar number. Instead, they need to use virtual ID (VID) and UID token as a substitute of Aadhaar number for the purpose of authentication. “A lot of features are there for privacy,” he said.

When asked if it makes sense to have ‘personal digital security’ as part of the curriculum in the schools, as children are growing up in a digital ambience, Nilekani said, some basic hygiene of digital security should be there.

Nilekani’s data privacy comments come at a time when the enterprises across the country are witnessing increasing cases of sensitive data exposure risks and breaches as services are rapidly getting digitalised. In February, French researcher Robert Baptiste, who goes by the online handle Elliot Alderson, claimed that he found a security breach that allegedly exposed millions of Aadhaar numbers of dealers and distributors associated with Indane, an LPG brand owned by the Indian Oil Corporation (IOC).

Last week it was revealed that local search provider Justdial’s website was exposed which made the personal information of 100 million users “publicly accessible.” This included information such as names, email IDs, mobile numbers, genders, date of births, addresses, photos and occupations of the users. KrebsOnSecurity, a website about cybersecurity, reported last week that hackers had compromised IT services firm Wipro’s systems and used them to launch attacks on some of its clients. It also reported that cyber attackers may have targeted IT majors Infosys, Capgemini and Cognizant to access data of third-party company resources.

Besides data privacy, there are also concerns about the surveillance state. “I think that (surveillance) is a concern we should have... somebody can listen to your conversations,” added Nilekani.

In China, there is ‘Social Credit System’ proposed by the Chinese government for creating a national reputation system to rate the trustworthiness of its citizens including their economic and social status. It works as a mass surveillance tool and uses big data and analytics technology.

The Hindu |

Biopharma and agro-economy set for boom in India: Shaw

These are exciting times for India’s biopharma and agro-economies as these sectors are set to boom in the near future, according to Kiran Mazumdar-Shaw, CMD, Biocon.

Participants in these segments, including farmers, are increasingly realising the value of data they are generating on a daily basis. Intelligent data mining will lead to knowledge creation, product innovations, accurate diagnostics and cost-effective healthcare, she said, addressing a session on “India’s Growing Bio Economy.”

Ms. Shaw said the country’s bio-economy sector was set to touch $200 billion by 2030.

Pointing out that in India, the investment in research and development was less than 1% of GDP, she said, “We must invest at least 2% of our GDP in science, technology (S&T) and research. We have to up our investments in basic research, applied research and translational research.

“America has increased is focus on S&T, Brazil spends 2.5% of its GDP and Russia spends upwards of 2%,’’ she added.

Ms. Shaw said that India’s education system must embrace research culture and leverage the powerful tool of scientists and engineers available in the country.

Gene sequencing cost

“Gene sequencing cost has come down substantially, which can be utilised for diagnosis of critical disease and in other areas — Indian companies can hugely benefit from gene sequencing,’’ she added.

Farmers generate a large amount of data and this opens up opportunity for data analytics and big data firms in the country.

“Interestingly, India has 15 agro-climatic zones.

“We have unique flora, fauna and ayurvedic plants. We need to create IP (intellectual property) around them and create value around data,’’ the CMD of Biocon added.

CNBC TV18 |

Aadhaar just an ID, says former UIDAI chairman Nandan Nilekani

Infosys co-founder and former Unique Identification Authority of India (UIDAI) chairman Nandan Nilekani Monday said Aadhaar did not qualify as a tool for surveillance and privacy and it was just an ID.

Defending Aadhaar, the Infosys co-founder said it never collected data on individual.

"It (Aadhaar) is a much simpler system because the privacy problem becomes more acute when there is an organisation collecting data on you. Aadhaar was never collecting data on you.

"All that Aadhaar was doing was giving an ID and doing verification. So, it is not really a great candidate for this (surveillance)," Nilekani said.

According to him, privacy is different from surveillance.

"...Especially privacy is used in the market sense where a business is not too much about you and, therefore, you can commercialise it," Nilekani said during an interactive session at the National Executive Committee meeting of the Federation of Indian Chambers of Commerce and Industries (FICCI) in Bengaluru.

Elaborating further, Nilekani said surveillance was more a state concern, in which state knows too much about the individuals and then uses it.

After his lecture, someone from the audience sought to know how real is the threat of people losing their identity and details becoming known to the world.

Replying to the question, Nilekani said surveillance should be a matter of concern. However, it is not just Aadhaar but a host of things, he pointed out.

In this context, Nilekani said mobile phone qualified on keeping a tab on any individuals privacy because it is with people round the clock and listens to every conversation.

Acknowledging the concern that if Aadhaar becomes ubiquitous, is used in multiple applications and then somebody combines them, Nilekani said the important feature of the ID system is that private firms cannot store the Aadhaar number.

He, however, welcomed the debate on Aadhaar as it led to the fundamental question whether Indians have a fundamental rights to privacy and the matter went to the Supreme Court.

Zee News |

Aadhaar never collected individual data, it's just an ID: Nandan Nilekani

Infosys co-founder Nandan Nilekani, who was once the chairman of the Unique Identification Authority of India (UIDAI), has said that Aadhaar is just an ID as it never qualified as a tool for surveillance and privacy.

The Infosys co-founder defended Aadhar and said that it never collected data of an individual.

"It (Aadhaar) is a much simpler system because the privacy problem becomes more acute when there is an organisation collecting data on you. Aadhaar was never collecting data on you.

All that Aadhaar was doing was giving an ID and doing the verification. So, it is not really a great candidate for this (surveillance)," Nilekani said.

Nilekani opined privacy was a much different issue than surveillance.

"...Especially privacy is used in the market sense where a business is not too much about you and, therefore, you can commercialise it," Nilekani was quoted as saying by PTI.

The former UIDAI chairman made these remarks during an interactive session at the National Executive Committee meeting of Federation of Indian Chambers of Commerce and Industries in Bengaluru on Monday.

Elaborating further, Nilekani said that surveillance is state concern as it knows tries to collect all possible information about an individual and then uses it.

When asked to comment on the real threat of people losing their identity and details becoming known to the world, Nilekani said surveillance should be a matter of concern.

He, however, said that it is just Aadhaar but a host of other things too.

In this context, Nilekani said mobile phone can be used as a tool for surveillance because it is with people round-the-clock and can record every conversation.

Nilekani acknowledged the concern that if Aadhaar becomes ubiquitous, it can be used in multiple applications and somebody can combine the data.

He welcomed the debate on Aadhaar as it led to the fundamental question of whether Indians have the fundamental rights to privacy or not and the matter went to the Supreme Court.

BTVI |

Aadhaar just an ID, not A tool for surveillance: Nandan Nilekani

Infosys co-founder and former Unique Identification Authority of India chairman Nandan Nilekani on Monday said Aadhaar did not qualify as a tool for surveillance and privacy and it was just an ID.

Defending Aadhaar, the Infosys co-founder said it never collected data on individual.

"It (Aadhaar) is a much simpler system because the privacy problem becomes more acute when there is an organisation collecting data on you. Aadhaar was never collecting data on you.

All that Aadhaar was doing was giving an ID and doing verification. So, it is not really a great candidate for this (surveillance)," Nilekani said.

According to him, privacy is different from surveillance.

"...Especially privacy is used in the market sense where a business is not too much about you and, therefore, you can commercialise it," Nilekani said during an interactive session at the National Executive Committee meeting of Federation of Indian Chambers of Commerce and Industries here.

Elaborating further, Nilekani said surveillance was more a state concern, in which state knows too much about the individuals and then uses it.

After his lecture was over, someone from the audience sought to know how real is the threat of people losing their identity and details becoming known to the world.

Replying to the question, Nilekani said surveillance should be a matter of concern.

However, it is not just Aadhaar but a host of things, he pointed out.

In this context, Nilekani said mobile phone qualified on keeping a tab on any individuals privacy because it is with people round the clock and listens to every conversation.

Acknowledging the concern that if Aadhaar becomes ubiquitous, is used in multiple applications and then somebody combines them, Nilekani said the important feature of the ID system is that private firms cannot store the Aadhaar number.

He, however, welcomed the debate on Aadhaar as it led to the fundamental question whether Indians have the fundamental rights to privacy or not and the matter went to
the Supreme Court.

India Blooms |

Country's digital infrastructure will revive the economy: Nandan Nilekani

Infosys Co-founder and Chairman Nandan Nilekani today said that India’s digital infrastructure will play a major role in reviving the economy.

Addressing FICCI members at the National Executive Committee Meeting on ‘Digital India and its Impact on Economy and Industry’ here on Monday, Nilekani said that "the country has witnessed dramatic transformation through Aadhaar-based e-KYC and online payments, adding that India’s digital data architecture will set the tone for business revival. Once data becomes the basis for decision-making in many sectors, you will see a big change. World over, data is becoming central to people and government. Data empowerment architecture in India will benefit all segments of the economy”.

Nilekani said that Aadhaar e-KYC has been revolutionary in making life simpler for people and India now has the infrastructure to deal with direct benefits transfers (DBT) in any segment, adding that DBT can revive the power sector.
"Goods and Services Tax (GST) has increased the number of taxpayers. GSTN is a great example of technology-led co-operative federalism,” he said and added that RFID tags linked to bank accounts is another big reform.

Earlier, addressing a session on ‘India’s Growing Bio Economy’, Biocon Ltd Chairperson Kiran Mazumdar Shaw said that the country’s Bio-economy sector is set to reach USD 200 billion by 2030.

“Bio-economy is a crucial segment of our economy and the new government must focus on this in a big way,” she added.

Pointing out that in India, the investment in research and development is less than 1 per cent of GDP, Shaw said “we must invest at least 2 per cent of our GDP in science, technology and research”.

She said that "our education system must embrace research culture and we must leverage the powerful tool of scientists and engineers available in the country. Gene sequencing cost has come down substantially, which can be utilised for diagnosis of critical disease and in other areas — Indian companies can hugely benefit from gene sequencing".

She urged FICCI to take up the changes required in the Bio-diversity Bill with the government.

Rajya Sabha member and Past FICCI President Rajeev Chandrashekhar said that industry must play an important role in the deliberations on a secure India and a responsive governance structure. “We have to independently ensure our safety and security."

FICCI President Sandip Somany, President, in his opening remarks said that “Digital empowerment has led to greater inclusiveness, with the efforts of government as well as several private sector enterprises.”

TeleAnalysis |

India’s digital infrastructure will revive the economy: Nandan Nilekani

Co-founder and Chairman of Infosys Technologies, Nandan Nilekani today said that India’s digital infrastructure will play a major role in reviving the economy. He said this while addressing FICCI members at the National Executive Committee Meeting on ‘Digital India and its Impact on Economy and Industry’ in Bengaluru.

He said that the country has witnessed dramatic transformation through Aadhaar-based e-KYC and online payments, adding that India’s digital data architecture will set the tone for business revival. “Once data becomes the basis for decision-making in many sectors, you will see a big change,” said Nandan Nilekani.

“World over, data is becoming central to people and government. Data empowerment architecture in India will benefit all segments of the economy,” he said.

Nilekani said that Aadhaar e-KYC has been revolutionary in making life simpler for people and India now has the infrastructure to deal with direct benefits transfers (DBT) in any segment, adding that DBT can revive the power sector.

He also also said that Goods and Services Tax (GST) has increased the number of taxpayers. “GSTN is a great example of technology-led co-operative federalism,” he said and also added that RFID tags linked to bank accounts is another big reform.

Earlier, addressing a session on ‘India’s Growing Bio Economy’, Ms Kiran Mazumdar Shaw, Chairperson, Biocon Ltd, said that the country’s Bio-economy sector is set to reach USD 200 billion by 2030.

“Bio-economy is a crucial segment of our economy and the new government must focus on this in a big way,” she said.

Pointing out that in India, the investment in research and development is less than 1% of GDP, Ms Shaw said, “we must invest at least 2% of our GDP in science, technology and research”.

She said that our education system must embrace research culture and we must leverage the powerful tool of scientists and engineers available in the country.

Ms Shaw also said that gene sequencing cost has come down substantially, which can be utilised for diagnosis of critical disease and in other areas — Indian companies can hugely benefit from gene sequencing.

She also urged FICCI to take up the changes required in the Bio-diversity Bill with the government.

In another session, Mr Rajeev Chandrashekhar, MP and Past President, FICCI, said that industry must play an important role in the deliberations on a secure India and a responsive governance structure.

“We have to independently ensure our safety and security,” he said. Mr Chandrashekhar also said that, in another critical area, the process of reforms in governance started in 2014, and added that, “governance reforms with increased transparency will enhance efficiency of spending”.

News Patroling |

India's digital infrastructure will revive the economy

Co-founder and Chairman of Infosys Technologies, Mr Nandan Nilekani today said that India’s digital infrastructure will play a major role in reviving the economy.

Mr Nilekani was addressing FICCI members at the National Executive Committee Meeting on‘Digital India and its Impact on Economy and Industry’ in Bengaluru.

He said that the country has witnessed dramatic transformation through Aadhaar-based e-KYC and online payments, adding that India’s digital data architecture will set the tone for business revival. “Once data becomes the basis for decision-making in many sectors, you will see a big change,” said Mr Nilekani.

“World over, data is becoming central to people and government. Data empowerment architecture in India will benefit all segments of the economy,” he said.

Mr Nilekani said that Aadhaar e-KYC has been revolutionary in making life simpler for people and India now has the infrastructure to deal with direct benefits transfers (DBT) in any segment, adding that DBT can revive the power sector.

Mr Nilekani also said that Goods and Services Tax (GST) has increased the number of taxpayers. “GSTN is a great example of technology-led co-operative federalism,” he said and also added that RFID tags linked to bank accounts is another big reform.

Earlier, addressing a session on ‘India’s Growing Bio Economy’, Ms Kiran Mazumdar Shaw, Chairperson, Biocon Ltd, said that the country’s Bio-economy sector is set to reach USD 200 billion by 2030.

“Bio-economy is a crucial segment of our economy and the new government must focus on this in a big way,” she said.

Pointing out that in India, the investment in research and development is less than 1% of GDP, Ms Shaw said, “we must invest at least 2% of our GDP in science, technology and research”.

She said that our education system must embrace research culture and we must leverage the powerful tool of scientists and engineers available in the country.

Ms Shaw also said that gene sequencing cost has come down substantially, which can be utilised for diagnosis of critical disease and in other areas — Indian companies can hugely benefit from gene sequencing.

She also urged FICCI to take up the changes required in the Bio-diversity Bill with the government.

In another session, Mr Rajeev Chandrashekhar, MP and Past President, FICCI, said that industry must play an important role in the deliberations on a secure India and a responsive governance structure.

“We have to independently ensure our safety and security,” he said. Mr Chandrashekhar also said that, in another critical area, the process of reforms in governance started in 2014, and added that, “governance reforms with increased transparency will enhance efficiency of spending”.

Mr Sandip Somany, President, FICCI in his opening remarks for the three sessions, talked about the contributions of the three speakers in their respective domains and also the challenges faced by these areas. “Digital empowerment has led to greater inclusiveness, with the efforts of government as well as several private sector enterprises,” while welcoming Mr. Nandan Nilekani.

Ms Sangita Reddy, Senior Vice-President, FICCI, and Mr. K Ullas Kamath, Chairman, FICCI Karnataka State Council, gave the vote of thanks.

India Education Diary |

Rear Admiral Atul Khanna and OP Gupta from GoI address IPR workshop at IIMB on Feb 22

IIM Bangalore, in collaboration with the Federation of Indian Chambers of Commerce and Industry (FICCI) and Visvesvaraiah Trade Promotion Centre (VTPC), Government of Karnataka, hosted a national conference titled, ‘Intellectual Property Rights for Global Business: Forward Looking Agenda for India’, at IIMB here today.

“The aim of the workshop is to deliberate on some of the key policy challenges that have come up in the realm of Intellectual Property Rights (IPRs) before India and other emerging economies in recent years, and propose a forward-looking agenda for the coming years in order to render IPRs as a vehicle for rapid economic growth,” said Prof. A. Damodaran, Faculty from the Economics and Social Sciences area at IIMB, and DPIIT Chair Professor on IPRs.

Key speakers at the conference included OP Gupta, Controller General of Patents, Designs & Trade Marks, Government of India, Shekar Viswanathan, Immediate Past Chairman, FICCI KSC & Vice Chairman & Whole-time Director, Toyota Kirloskar Motors Private Limited, Ullas Kamath, Chairman, FICCI KSC & Joint Managing Director, Jyothy Laboratories Limited, Bengaluru, Rear Admiral Atul Khanna, VSM, Additional Director General, DQA(N), Ministry of Defence, Department of Defence Production, S R Satheesha, MD, VTPC, Government of Karnataka, Prof. A Damodaran of IIMB, Dr. Santosh Mohanty, Vice President, Tata Consultancy Services, among others.

In his welcome address, IIMB Director Prof. G. Raghuram called for a culture of innovation that will help build an ecosystem for Geographical Indications (GI) and IPR. “Karnataka tops the GI table in the country (41); there is a big opportunity and we should leverage it,” he added.

“The valuation of a company is exponentially driven by the IPRs that it can access,” said Shekar Viswanathan, Vice Chairman & Whole-time Director, Toyota Kirloskar Motors Private Limited. Advising young managers at the workshop on how to build a company’s valuation using IPR, he cited the example of how Toyota derives valuation from companies like Bosch which provide innovative technologies.

Ullas Kamath, Chairman, FICCI KSC & Joint Managing Director, Jyothy Laboratories Limited, Bengaluru, said: “The biggest competitor for us is look-alikes and counterfeit products – the fakes! We hope the workshop provides us a way forward on how to protect our IPRs.”

Rear Admiral Atul Khanna, VSM, Additional Director General, DQA(N), Ministry of Defence, Department of Defence Production, said: “India is the largest importer of arms. After decades of being independent, we are still importing defence equipment from the world market. As one of the largest economies of the world, being dependent on foreign arms suppliers is to deny our people job opportunities in this sector, and it is a very serious matter.”

Referring to the industrial revolution, he said that while the rest of the world benefitted from the revolution, it happened at a time when India was under British rule. “At that time, industry was not there in India, leave alone defence industry!” After 1947, he explained, India had come ‘from zero to 50 per cent’ in terms of meeting its defence requirements. “We have come a long way, but we have a long way to go. We have harnessed the low-hanging fruit. We now need to develop our own cutting-edge technology because the technology that we require will never be on sale or effectively licensed. To take ‘Make in India’, in defence, to the next level, we have to create an IP and R&D ecosystem involving academia and industry,” he explained.

In his keynote address, OP Gupta, Controller General of Patents, Designs & Trade Marks, GoI, gave an overview of the National IPR Policy, its aims and objectives, and said: “We have granted patents even within 81 days.”

The speakers, at the panels, provided a strategic overview where issues were discussed with reference to the National IPR Policy and its ability to energize the Indian and global business opportunities; the artiste/performer’s rights in the light of more distributed systems of digital and music and dance production in recent times; streamlining transfer of technology through effective modes of licensing; and issues regarding royalty payments which are relevant to the macroeconomic considerations associated with India’s external sector; the extensive work that has gone into protecting traditional legacies and ingenuity of artisans/farmers and the road ahead; modernizing IPR administration in India in the interest of faster and more efficient and qualitative improvements in the processes of IPR applications; data protection for not only privacy but also to safeguard commercial value and are even relevant to patent grant and protection, and synergies with Make in India, Start Up India and Digital India in the larger interests of technological upgradation and successful deployment.

The Conference has put together a set of concrete actions and implementable recommendations that shall determine the policy agenda in India on IPRs. Professor Damodaran of IIM Bangalore shall, with the support of FICCI, take this agenda forward.

“These topics are critical as they could make a difference to technology and capital sourcing that will differentiate India from the rest of the BRICS members,” said Professor A. Damodaran, whose report on Royalty Payments submitted to the Government of India has triggered debate surrounding the six issues that the conference covered.

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