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India-US CEO Forum’s WG7 launch bilateral knowledge-sharing platform for MSMEs, startups

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New Delhi, May 27 (IANS) In a bid to help Micro, Small and Medium Enterprises (MSMEs) and startups integrate better in the global supply chain, the India-US CEO Forum’s Working Group 7 (WG7) on Monday launched the bilateral knowledge-sharing platform between India and the US.

The ‘Nihit Knowledge Platform’ will also boost jobs, said the forum on entrepreneurship, inclusive growth and promoting small businesses, in partnership with United Services Institute (USI) and CyberPeace Foundation.

The event also saw the launch of ‘Prakshepan’, a hackathon for MSMEs and startups with a prize pool and mentorship of over Rs 1 crore.

“The dialogue and the knowledge-sharing platform will enhance the bilateral relationship and unlock trade between India and the US, promoting inclusive growth by empowering startups and integrating MSMEs in the global supply chain and fostering a resilient, innovative, and inclusive economy,” said Subi Chaturvedi, Chief Corporate Affairs and Public Policy Officer, Global Senior Vice President (SVP), InMobi, and Sherpa WG7.

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The ‘Prakshepan’ hackathon will identify, mentor, and accelerate startups that contribute to enhancing the relationship between India and the US.

“This bilateral hackathon will focus on fostering innovation with a strong emphasis on women-led businesses, aiming for 50 per cemt female representation among participants”, said Chaturvedi.

With the aim of improving bilateral trade between India and the US, the forum brings together top businesses from both nations under the guidance of the Ministry of Commerce and the Department of Commerce from India and the US, respectively.

“I believe initiatives and dialogues like this will help foster a better relationship between the two nations, especially in trade and innovation, new and emerging future technologies and startups have a key role to play,” said Mahaveer Singhvi, Joint Secretary (new emerging and strategic technologies division), Ministry of External Affairs.

The event was organised by InMobi, Mastercard and Tata Sons and supported by CyberPeace Foundation, USI and USIBC.

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–IANS

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Urgent need to fight hepatitis, curb liver cancer deaths in Southeast Asia: WHO

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Urgent need to fight hepatitis, curb liver cancer deaths in Southeast Asia: WHO

Urgent need to fight hepatitis, curb liver cancer deaths in Southeast Asia: WHO

New Delhi, July 27 (IANS) In an effort to address increasing deaths from liver cancer in Southeast Asia, which are projected to double by 2050 to over 200,000 deaths annually, the World Health Organization (WHO) on Saturday called on the countries in the region to urgently scale up efforts to provide universal access to prevention, vaccination, diagnosis, and treatment of viral hepatitis B and C.

Liver cancer is currently the fourth biggest cause of cancer deaths in the region, and the second most common cause of cancer deaths among men.

Saima Wazed, Regional Director, WHO Southeast Asia, said on World Hepatitis Day that we have the knowledge and tools to prevent, diagnose and treat viral hepatitis, yet people with chronic hepatitis B and C are still waiting to access the services they need.

“We need to accelerate efforts to deliver equitable services closer to communities, at the primary health care level,” she noted.

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Almost 75 per cent of liver cirrhosis is due to hepatitis B and C infection.

In 2022, the Southeast Asia region accounted for 70.5 million people living with viral hepatitis B and C.

According to the WHO, early testing and treatment can cure hepatitis C and prevent hepatitis B from causing liver cirrhosis and cancer and can help reverse the predictions that liver cancer rates in the southeastern Asia region are set to double by 2050 to over 200,000 deaths annually.

Worldwide, hepatitis B and C combined cause 3,500 deaths per day, with 6,000 people newly infected with viral hepatitis each day.

On the global level, an estimated 254 million people are living with hepatitis B and 50 million people are living with hepatitis C.

Wazed said there are safe and effective vaccines that can prevent hepatitis B infection.

Also, antiviral drugs are highly effective in controlling and preventing disease progression, managing chronic hepatitis B and curing most cases of hepatitis C.

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“More needs to be done for these life-saving interventions to benefit each person, irrespective of who they are and where they live,” Wazed noted.

According to the world health body, testing and treatment must be accessible within the community delivered by primary health care facilities and general practitioners, close to where people live and work, and included as part of universal health coverage.

“Accelerated coverage of testing and treatment of hepatitis B and hepatitis C will reduce development of liver cirrhosis and cancer, and ultimately, death,” Wazed said.

–IANS

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Vistara becomes 1st Indian airline to offer free Wi-Fi on international flights

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Vistara becomes 1st Indian airline to offer free Wi-Fi on
 international flights

Vistara becomes 1st Indian airline to offer free Wi-Fi on
 international flights

New Delhi, July 27 (IANS) In some good news for flyers, Vistara on Saturday said it will offer 20 minutes of free Wi-Fi on international flights, making it the first Indian airline to allow this benefit.

The Tata-Singapore Airlines joint venture airline said the complimentary, 20-minute Wi-Fi access will allow passengers in all cabins to stay connected and is ideal for those who wish to purchase extended Wi-Fi plans using Indian credit/debit cards.

The service, available on Boeing 787-9 Dreamliner and Airbus A321neo aircraft, enables customers to receive one-time passwords via email, facilitating the purchase of extended in-flight Wi-Fi during the active session, according to Vistara.

“We are confident that customers will appreciate this value addition, which aims to make their Vistara journey more convenient, productive, and seamless,” said Deepak Rajawat, Vistara’s Chief Commercial Officer.

Additionally, 50 MB of complimentary Wi-Fi is provided for Business Class and Platinum Club Vistara members.

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According to the airline, non-members will be charged Rs 372.74 plus GST for unlimited data access on messaging apps such as WhatsApp.

For internet surfing on these flights, the airline has priced the service at Rs 1,577.54 plus GST, which includes audio and video streaming on social media and the web.

Unlimited data, allowing all streaming protocols, is available for Rs 2707.04 plus GST, said Vistara.

The airline said its in-flight entertainment systems offer nearly 700 hours of content, including movies, TV shows, and audio titles.

–IANS

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Rs 2 lakh crore for edu, jobs a game changer for India's growth: Ronnie Screwvala

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Rs 2 lakh crore for edu, jobs a game changer for India's growth: Ronnie Screwvala

Rs 2 lakh crore for edu, jobs a game changer for India's growth: Ronnie Screwvala

New Delhi, July 27 (IANS) Hailing the Union Budget 2024-2025, serial investor and entrepreneur Ronnie Screwvala said on Saturday that allocating Rs 2 lakh crore for education and employment is a game changer for the overall growth of the country.

Furthermore, the Budget has allocated Rs 1.48 lakh crore specifically for education, employment, and skilling, underscoring the government’s commitment to these vital areas.

Screwvala lauded the focus on employment and skilling and making the micro, small and medium enterprises (MSMEs) sector thrive for economic growth and creating 100 million jobs over the next decade.

According to the government, the new Budget initiatives are poised to stimulate the MSME sector, enhance the employability of the workforce, and provide much-needed support to the middle class, ultimately driving inclusive growth and sustainable development for the nation.

“With skilling comes innovation that will lead us to be a creator economy vs a replicator or outsourcing economy. Intellectual Property creation is the wealth of any nation and economy,” he said.

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“Budget spends are on the right priorities with Defence, rural, education and agriculture in the top five. This is the right way to unlock India’s demographic dividend,” added Screwvala, co-founder and Chairman of edtech platform upGrad.

Internships and empowering women take the budget to the core of what will make India shine.

On long-term capital gains (LTCG) tax, the entrepreneur said India is one of the lowest capital gains tax countries.

Under the new tax rules, stock investing will attract a 12.5 per cent LTCG (previously 10 per cent) and 20 per cent Short-Term Capital Gains tax (previously 15 per cent).

India’s capital gains tax remains one of the lowest globally, excluding tax havens such as Hong Kong, Singapore and the UAE.

–IANS

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IIT Kanpur, NPTI to boost cyber security for critical power infra

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IIT Kanpur, NPTI to boost cyber security for critical power infra

IIT Kanpur, NPTI to boost cyber security for critical power infra

New Delhi, July 27 (IANS) In a bid to boost cyber security for the critical power infrastructure, Indian Institute of Technology, Kanpur (IIT-K) and National Power Training Institute (NPTI), on Saturday, announced a collaboration towards enhancing the research and training capabilities.

The partnership aims to prepare a detailed project report (DPR) for establishing an OT (operations technology) and SCADA (supervisory control and data acquisition system) cyber security lab at NPTI.

These systems are differentiated from the IT systems of power systems operations organisations, such as power distribution utilities or power generation and transmission companies, and the cyber security of these systems is the key.

“With our extensive expertise in cyber security research, this collaboration strengthens our mission to contribute to the nation’s technological advancements to prevent any further cyber-attacks on critical infrastructure,” said Professor Manindra Agrawal, Director, IIT Kanpur.

The cyber security lab will be state-of-the-art and have the most common components used in OT systems at various Indian utilities.

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“The lab will be more extensive than what is already present at the C3iHub. It will be a great asset for the power system operators in India to train their workforce in OT and SCADA security,” said Professor Sandeep Shukla, Project Director, C3iHub, IIT Kanpur.

The partnership marks a pivotal milestone towards fortifying the cyber security infrastructure of India’s power grid.

“NPTI is committed to equipping our workforce with the latest technological know-how. The DPR will lay the groundwork for a facility that will provide hands-on training and support the integration of modern technologies in the power sector,” said Dr Tripta Thakur, Director General, NPTI.

–IANS

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FPIs pump in Rs 52,910 crore as Budget aims to foster stable investment environment

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FPIs pump in Rs 52,910 crore as Budget aims to foster stable
 investment environment

FPIs pump in Rs 52,910 crore as Budget aims to foster stable
 investment environment

New Delhi, July 27 (IANS) The foreign portfolio investor (FPI) community, which is set to play a major role in positioning India as the third largest economy in the world, has pumped in nearly 52,910 crore in equity and debt this month (till July 26).

FPIs were consistent buyers as the Union Budget 2024-2025 focused on fostering a stable and mature equity investment environment.

Market experts, citing the data by National Securities Depository Limited (NSDL), said that FPIs have invested Rs 33,688 crore in equity and Rs 19,222 crore in debt so far this month (July 26).

For the full year-to-date, FPI investment in equity stands at Rs 36,888 crore and Rs 87,846 crore in debt in the country.

Analysts said this massive flow of money into the domestic mutual funds and the newfound clout of the retail investors have “strengthened the domestic investors over their foreign counterparts”.

According to them, the reason for a quick rebound in the capital markets can be attributed to positive sentiments and a stable government’s assurance of continuity of reforms.

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Meanwhile, the Budget emphasises capital allocation and policy measures to boost the majority of sectors which will help to continue the long-term growth of the economy.

Experts said the government has also made a comprehensive review of the indirect Tax rate structure for ease of trade, removal of duty inversion and reduction of disputes.

The budget proposes an increase in short-term capital gains (STCG) tax from 15 per cent to 20 per cent and long-term capital gains (LTCG) tax from 10 per cent to 12.5 per cent.

It may affect sentimentally for the short term but the way the long-term outlook of the equity market remains positive, it will not change Inflow to the equity market, according to Pantomath Capital Advisors.

The Indian growth story remains intact and manufacturing sentiments in the country have shown an improvement in the April-June quarter. The demand conditions continue to be strong and may get a further boost with the progress of the monsoons.

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The budget allocation for infrastructure, the rural sector and the thrust on employment generation schemes are seen as big moves which will boost economic activity and boost consumption.

A survey indicated this month that the business activity accelerated to a three-month high in July as the services sector surged and manufacturing picked up momentum leading to companies hiring at the fastest pace in 18 years.

India has emerged as the fastest-growing major economy in the world, clocking a growth rate of more than 8 per cent in 2023-24.

–IANS

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