500 Bee Boxes, 500 Pottery Wheels and 200 Leather Kits Distributed in Boondi District by KVIC

To commemorate 150th Birth Anniversary of Mahatma Gandhi and to support the weaker section of the society in Boondi District, Rajasthan, Khadi and Village Industries Commission (KVIC) organized an event yesterday, in which Shri Om Birla, the Speaker of Lok Sabha distributed 500 Bee Boxes, 500 Electric Pottery Wheels and 200 Leather Tool Kits in presence of Shri V. K. Saxena, Chairman, KVIC and MLA Shri Ashok Dogra.

Complementing the efforts of KVIC, Shri Om Birla said, "Bapu had always dreamed of encouraging the rural talents and providing livelihood opportunities at their doorsteps. KVIC is fulfilling Bapu's dream in its true sense. KVIC's initiative of reviving the bee keeping, pottery and leather industry would go a long way, in helping the rural youth earn their respect and dignity."

Quite noticeably, KVIC has been spear heading a mass campaign for the revival of bee keeping, pottery and leather industry since last 2 years under Honey Mission, Kumhar Sashaktikaran Mission and Leather Mission respectively. KVIC has distributed around 1.15 Lakh Bee boxes, 13000 Electric Pottery Wheel, 2500 Leather Kits across India so far, thus generating a livelihood for 17,000 beekeepers, 52,000 potters and 2500 Leather artisans so far.

Shri V K Saxena, Chairman KVIC said, "The objective of this event is to empower the rural artisans and help them gain confidence in bee keeping, pottery and leather artistry. Aligned with the vision of Prime Minister, our endeavour is to provide livelihood opportunities as well as alternate source of income to the rural farmers who otherwise adopt to menial labor or migrate to big towns or cities for daily wage jobs."

The event witnessed a huge turnout of artisans from Jhalawad, Kota and Boondi Districts of Rajasthan. Beneficiaries thanked Om Birla Ji and VK Saxena Ji for coming all the way from Delhi to distribute electric pottery wheels in the village. The new wheel is less effort consuming and will yield high quality products while reducing the number of man hours quite considerably.

About 5.70 Lakh Micro Enterprises Assisted under PMEGP up to 31st October 2019 #PMEGP #MEAs #Sukumarbalakrishnan

Ministry of MSME is implementing Prime Minister's Employment Generation Programme (PMEGP), which is a major credit-linked subsidy programme aimed at generating self-employment opportunities through establishment of micro-enterprises in the non-farm sector, including Cottage, Khadi and Village Industry units, by helping traditional artisans and rural/urban unemployed youth. Under the scheme, beneficiary can avail loan up to Rs 25 lakh (US$ 35,770) in the manufacturing sector and Rs 10 lakh (US$ 14,308) in the service sector, with the subsidy of 15 per cent to 35 per cent for different categories.

As per guidelines of PMEGP scheme, 100 per cent physical verification of units is carried out through outsourced agencies after completion of 24 months and before 36 months of setting up of units. Accordingly, as per currently available data for the period from 2008-09 to 2014-15, it is observed that on an average about 80 per cent of PMEGP units are found working and the rest are either closed or not found existing at the original registered location.

Under PMEGP scheme, since its inception in 2008-09, a total of about 5.70 lakh micro enterprises have been assisted with a margin money of Rs 12,902 crore (US$ 1.85 billion) providing employment to an estimated 47 lakh persons, till 2019-20 (up to 31.10.2019).

In order to enhance the employment opportunities, Ministry of MSME has also introduced a scheme of second financial assistance for expansion/upgrading existing PMEGP/MUDRA units. The second financial assistance for manufacturing unit is up to Rs 1.00 crore (US$ 0.14 million) and for service/trading unit it is up to Rs 25.00 lakh (US$ 35,770) with subsidy of 15 per cent for non NER and 20 per cent for NER and hilly States.

This information was given by Shri Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprises in written reply to a question in Rajya Sabha today.

Meet Reema Juffali, First Saudi Woman Driver To Race Car In Male-Dominated Motor Sport # MotorSport #Sukumarbalakrishnan

Twenty-seven-year-old Reema Juffali is all set to shatter the glass ceiling and carve a path for herself as she gears up to get behind the wheels as the first Saudi woman to race in the kingdom.

Juffali is the first women to challenge participants in the male-dominated motor sport.

Until June last year, such feats for women were unimaginable in the ultra-conservative Islamic kingdom. As part of Crown Prince Mohammed bin Salman's wide-ranging liberalisation drive, the world’s only ban on female motorcyclists was overturned.

Juffali, a 27-year-old who made her motoring debut just months after the decades-old ban ended, will compete Friday and Saturday in the Jaguar I-PACE eTROPHY, an all-electric race in Diriyah, close to the capital Riyadh.
Juffali hails from Jeddah and has studied in the United States. She will participate as what organisers call a "VIP" guest driver, becoming the first Saudi woman to race on home soil.

Prince Abdulaziz bin Turki al-Faisal, Saudi Arabia's sports authority chief, has touted it as a "watershed" moment for the kingdom.

"Reema will have thousands cheering her on, as a professional racing driver," the prince told AFP.

Juffali has earlier made appearances in competitive racing at the F4 British Championship and has a year of professional racing experience under her belt.

The AFP report says Juffali grew up watching Formula One and has always had a passion for fast cars.

This Guy's Stock Trading Firm Is Worth Rs 5000 Crore, Has More Computer Geeks Than Finance Guys #StockTradingFirm #Sukumarbalakrishnan

When we think of trading stocks, we have quite a few places where we take guidance from to take the right financial step. However, today, another trend is seen more commonly in play -- Data Analytics that is able to give more accurate results. And Alex Gerko has applied this to make is net worth $700 million (according to Bloomberg Billionaires Index).
XTX Market’s Limited, founded by Alex Gerko takes an approach that is far from a conventional person working in financial markets. He acts more like the CEO of an enterprise in Silicon Valley. XTX in 2018 has reported a profit of 117 million GBP -- double than what it earned in 2017. The firm handles over $150 billion trades (including stocks, currencies, fixed income and commodities) every day.

XTX as a company has based its functioning on data analytics that predicts market fluctuations in every condition and acting upon the information at hand. However, what’s more astonishing is the qualification of people working in the enterprise.

Kohler India to double retail network in next three years #RetailNetwork #Sukumarbalakrishnan

For Kohler Co, the US-based premium sanitaryware brand, India remains one of its three most strategic markets, despite the slowdown, said Mr David Kohler, President and CEO, Kohler Co.

"India have very strong, long term potential and it's demonstrating that year-by-year with one of the highest GDP growth rates in the world. And the country is making progress. So, to me this is a very different market than other markets in the world... So, there's a there's a positive dynamic here," David said in an interview.

Kohler India is planning to double its retail presence in the next three years, with a focus on the top cities. "We have a network of about 500 showrooms in the country today, and we’re interested in really continuing to rapidly expand that, in tier one and tier two cities," David said.

For Kohler, across the Globe, India is among one of the most interesting and creative markets it serves anywhere, and the company is focussed on the long-term potential here. It launched its second Kohler Experience Centre (KEC) in the country in Mumbai on Friday and is planning to open one more in Bengaluru soon. The first KEC is opened in Delhi. With only around ten KECs globally, India will be the first to have three KECs, he said, emphasising the importance of the Indian market.

Unlike other regular outlets, KECs are "inspiration zones" sprawled over 16,000 sq. ft., meant more for customer engagement than sales, and are not designed like display centres or showrooms.

Kohler has also launched several new product categories in the country like grooming solutions inside bathrooms, water filtration and bathroom furniture and mirrors.

When asked about the consumption slowdown in India, David said "We think, in kind of every major market or in India, there will be ups and downs and in a high growth market like this, you are going to have some volatility here and there and you’ll go through shorter term cycles, but that really doesn't make a difference to us, because we're focussed on the long-term".

MTPL to set up off-highway tyre facility in Gujarat, invest $107 million #MTPL #Sukumarbalakrishnan

Backed by International Finance Corporation (IFC) through equity and loan, Mahansaria Tyres Private Limited (MTPL) to set up a US$ 107 million facility to manufacture off-highway tyres in Gujarat.
IFC will provide a loan of up to US$ 30 million and it will buy a stake in MTPL for up to US$ 7.74 million.

MTPL is owned by Ashok Mahansaria, Yogesh Mahansaria and Yogesh Investments Private Ltd. (YAIPL), erstwhile sponsors of Balkrishna Industries and Alliance Tyre Group, and it has over 25 years of experience in off-highway tyres used in agriculture and construction industry.

Cost for phase 1 is US$ 107 million, which will involve setting up 40,000 MT capacity. This will be funded by debt of up to US$ 54 million, including IFC's loan, which will have a tenure of 10 years.

Another loan of up to US$ 24 million will be mobilised by IFC on similar terms. This gives the company access to a different fundraising channel including institutional financiers and help it develop a more diversified investor base.

"IFC's investment will provide validation of a greenfield business plan and the growth prospect of the sector. This will send a positive signalling effect to other investors on the soundness of the project and help attract investors for the current and future financing stages," said IFC.

It is estimated by MTPL that exports will account for 70-80 per cent of sales and contribute to India's forex earnings. The project will support value-addition in the domestic rubber production industry and is expected to create 1,500 jobs in the first phase.

As compared to developed markets such as EU and North America, OHT has a small presence India. The size of OHT segment globally is still relatively small as it accounts for only about 10 per cent of the overall tyre industry. At present, value brands have around 30 per cent share in the global market. Half of this market share is held by Indian players.

The Indian OHT market is price sensitive due to low farm income. As a result, the product range in India is not as specialized as in the EU and North America, where more application specific solutions are available.

Indian players such as MTPL stand to gain by producing more products in the value brand segment of OHT tyres, given that conversion costs in India are lower than in any other manufacturing bases. This project will demonstrate the competitiveness of Indian players in the global market and increase the overall share of Indian value brands, said IFC.

CSIR Developed Anti-Diabetes Medicine #CSIR #Sukumarbalakrishnan

The diabetic population in the country is close to hitting the alarming mark of 69.9 million by 2025, which denotes that the country is expected to witness an increase of 266%.

Council of Scientific and Industrial Research (CSIR), through its constituent laboratories namely CSIR-Central Institute of Medicinal & Aromatic Plants (CSIR-CIMAP), Lucknow; and CSIR-National Botanical Research Institute (CSIR-NBRI), Lucknow developed scientifically validated herbal product NBRMAP-DB as anti-diabetic formulation and the knowhow for the product was licensed to M/s AIMIL Pharma Ltd., Delhi who are manufacturing and marketing it as BGR-34, across the country.

M/s AIMIL Pharmaceuticals, the licensee carried out the clinical study of BGR-34 and the trial was registered in clinical trial registry of India (Registration number: CTRI/2016/11/007476). Further, the formulation has shown therapeutic efficacy for treating newly diagnosed type 2 diabetes, as found in independent clinical trials conducted at Banaras Hindu University (BHU), Varanasi.

The Central of Research in Ayurveda Sciences (CCRAS), and autonomous body under Ministry of AYUSH has been engaged in extending research-oriented Ayurveda based on integrative health care services for the management of Madhumeha which is Diabetes Mellitus. The following are the core activities

1. CCRAS in collaboration with Directorate General of Health Services, Ministry of Health & Family Welfare has implemented and executed a programme viz. Integration of AYUSH (Ayurveda) component with NPCDCS(National Programme for Prevention and Control of Cancer, Diabetes, Cardiovascular diseases & Stroke ) programme in the identified districts of 3 states viz. Bhilwara (Rajasthan), Surendranagar (Gujarat) and Gaya (Bihar) to cater health care services and to reduce the burden of NCDs including Diabetes by combining the strength of Ayurveda and Yoga. The programme was launched during 2016 and continuing in 3 districts viz. Bhilwara (Rajasthan), Surendranagar (Gujarat) and Gaya (Bihar). The aforesaid programme is now successfully functional in 52 centres (49 CHCs and 3 District Hospitals) of the all 3 identified districts, through AYUSH-NPCDCS Clinic/Lifestyle modification Clinics, established for prevention and management of selected NCDs by Ayurvedic intervention, Lifestyle modifications and Yoga Advice.

2. CCRAS had developed the AYUSH82 formulation for diabetes through scientific process of drug development and commercialized through National Research Development Corporation (NRDC) for wider public utility.

3. Generation of evidences on efficacy & safety of classical Ayurveda formulation on Diabetes Mellitus. CCRAS has done efficacy and safety on formulations viz. Nishamalki churna, Saptvinsti Gugullu, Yasad bhasm, Guduchi churna, Chandraprabha vati, Haridra churna anmd Gokshuradi Gugullu.

4. CCRAS has published the documents viz. Protocol on Prevention and Management for Diabetes Mellitus and compendium on research articles on Diabetes Mellitus which are made available in the public domain for benefit of practitioner's, physician and researchers.

This information was given by the Minister of State (Independent Charge) for AYUSH, Shri Shripad Yesso Naik in written reply to a question in Lok Sabha today.

CarDekho closes $70 mn funding round from top investors in China, Europe #Sukumarbalakrishnan

CarDekho, an auto-tech company, has raised US$ 70 million in a Series D round, led by Ping An's Global Voyager Fund, which has made its maiden investment in India with this deal. Sunley House Capital Management, a subsidiary of global private equity firm Advent International, and existing investors - Sequoia India and Hillhouse, were other investors. CarDekho has secured a cumulative funding of more than US$ 250 million, including the latest round, till date.

Ping An, which is based in China and is one of the world's largest financial services companies, holds majority stake in Autohome, which is the China's largest auto portal. Sequoia India is one of the early investors in CarDekho, having led the Series A round in 2013.

The company said that these funds will be used to strengthen its transaction businesses and expand its international footprint. CarDekho recently started its operations in the second country in Southeast Asia by acquiring the Philippines operations of Carmudi. The first was Indonesia, where it started operations in 2016 under the brand name OTO.com, which has since become the number one new auto portal in the country.

The company claims all car and motorcycle manufacturers engage with CarDekho and that it accounts for 15-30 per cent of some of its partners' sales. CarDekho also works actively with over 4,000 new auto dealerships and 3,000 used car dealers across India, influencing more than 42 per cent of the retail sales happening through their counters.

In addition, the company also works in collaboration with more than 10 financial institutions and 18 insurance companies across the country to facilitate used-car financing and insurance to provide a seamless experience for both buyers and sellers.

The company recently announced its H1 results for 2019-20. The overall revenue of the company achieved a YoY growth of 92 per cent over the first half of the last fiscal year and stood at US$ 28 million. The company's new auto business segment posted a significant growth at 30 per cent amidst the slowdown in new auto sales across India. Its insurance and warranty business grew 525 per cent. The used-car and financial services businesses grew by 120 per cent and 135 per cent, respectively.

"With the latest fundraise, we will continue to strengthen our domestic and international businesses and will aggressively work towards becoming the largest personal mobility ecosystem in the country," said Mr Amit Jain, CEO and co-founder, CarDekho.

"Auto services are a core component of Ping An's 'finance + ecosystem' strategy, reflected in our majority shareholding in Autohome in China. We have been extremely impressed with the business CarDekho has built in India, particularly its success in developing different types of financial services offerings to address car buyers' needs," said Mr Donald Lacey, Managing Director and COO of the Ping An Global Voyager Fund. "The Global Voyager Fund’s stake in CarDekho represents Ping An's first venture investment in India, and we are delighted to partner with an organisation of CarDekho's caliber."

The RainMaker Group acted as the sole financial advisor to the company.

CSIR signs MoU with KVIC on promotion of honey production Khadi outlets to also display CSIR products #Sukumarbalakrishnan

The Council of Scientific & Industrial Research (CSIR) has entered into a Memorandum of Understanding (MoU) with the Khadi and Village Industries Commission (KVIC) to leverage the expertise available in CSIR with the effort of KVIC for promotion of honey production and also to enable wider outreach of the CSIR technologies and products. The MoU will help formalize the working relationship between the two organizations in areas such as honey testing, promotion of Honey Mission alongside the CSIR Aroma Mission and the proposed CSIR Floriculture Mission. It will also explore enlisting of CSIR licensees in the KVIC network, display of CSIR technology products at important KVIC outlets such that CSIR products can reach to wider audience.

The MoU was signed by Dr. Shekhar C. Mande, Secretary, Department for Scientific & Industrial Research and Director General, CSIR and Shri Vinai Kumar Saxena, Chairman, KVIC here yesterday.

CSIR has over the years, been pursuing R&D in various sectors and has developed a portfolio of processes, technologies and products in these sectors. In the agriculture and nutrition sector, the focus has been in development of technologies and products pertaining to medicinal and aromatic plants, floriculture and food processing.

Amongst its various activities aimed at the development of Khadi and other village industries in rural areas, the KVIC is implementing Honey Mission for introducing and popularizing modern beekeeping in the rural areas.

Setting up of Jute Manufacturing Unit to promote Jute #Sukumarbalakrishnan

The government is trying to promote jute manufacturing units by 100% mandatory packaging of food grains procured by State Procurement Agencies/FCI in jute bags.

The production of jute goods over the last few years by the jute mills has remained consistent. During the year 2017-18 and 2018-19, approximately 1,200 Thousand MT of raw jute per year was consumed by the mills to meet the demand of jute products, the details of which are as under:

mber of measures have been taken by the Government to modernise the jute mills established in the country, the details of which are as follows:

I. The Government has implemented Incentive Scheme for Acquisition of Plants and Machinery (ISAPM) to facilitate modernization in existing and new jute mills and for up-gradation of technology in existing jute mills. An incentive of 20% of the cost of machinery for jute mill and 30% for Jute Diversified Products (JDP) - MSME units is considered for reimbursement under the scheme, subject to a maximum of Rs 2.50 crore (US$ 0.36 million) per unit. Under this scheme, a subsidy amounting to Rs 49.71 crore (US$ 7.11 million) has been disbursed to Jute mills and JDP units during the period 2014-15 to 2018-19.



II. A Scheme for Research and Development for the textile industry including jute with a total outlay of Rs 80.00 crore (US$ 11.45 million) has been launched in 2015 by the Government for promotion of Research & Development, technology transfer and dissemination activities in textile sector including jute.

This information was given by the Union Minister of Textiles, Ms Smriti Zubin Irani, in written reply in the Rajya Sabha on 5th December.