Success in my Habit

Tuesday, August 18, 2020

Partial Credit Guarantee Scheme (PCGS) 2.0 extended with greater flexibility to respond to emerging demands

 

As part of Aatmanirbhar Bharat Abhiyan, announced by the Government, Partial Credit Guarantee Scheme (PCGS) 2.0 was launched on 20.05.2020 to provide Portfolio Guarantee for purchase of Bonds or Commercial Papers (CPs) with a rating of AA and below issued by NBFCs/HFCs/ MFIs by Public Sector Banks (PSBs). It was envisaged to purchase Bonds/ CPs of Rs 45,000 crore (US$ 6.38 billion) under PCGS 2.0 of which the maximum headroom permissible for purchase of Bonds/ CPs rated AA/AA- was 25 per cent of the total portfolio i.e. Rs 11,250 crore (US$ 1.60 billion). In addition, the Government had separately announced the Special Liquidity Scheme for purchase of Commercial Papers (CPs) and Non-Convertible Debentures (NCDs) issued by NBFCs/HFCs with a residual maturity of upto 3 months, which could be extended for a further period of up to 3 months, of a total value not exceeding Rs 30,000 crore (US$ 4.26 billion) to be extended by the amount required as per need.

Under PCGS 2.0, PSBs have approved purchase of Bonds/ CPs rated AA/AA- issued by 28 entities and Bonds/CPs rated below AA- issued by 62 entities, amounting to Rs 21,262 crore (US$ 3.02 billion) overall. The average ticket size of Bonds/CPs rated below AA- is significantly lower than the average ticket size of Bonds/CPs rated AA/AA-.Under SLS, proposals of Rs 7,464 crore (US$ 1.06 billion) have been approved for purchase so far.

Keeping in view the progress under the Scheme and the fact that the stipulated limit for AA/AA- rated Bonds/CPs has been nearly reached while the appetite for lower rated Bonds/CPs is nearing saturation considering their lower ticket size, the Government has now decided to modify PCGS 2.0 for purchase of Bonds/CPs as under:

  • Additional 3 months have been granted to build up the portfolio. At the end of six months, i.e. by 19.11.2020, the portfolio shall be crystallised based on actual amount disbursed, for the Guarantee to come into effect.
  • At the portfolio level, AA and AA- investment sub-portfolio under the Scheme should not exceed 50 per cent (instead of 25 per cent stipulated earlier) of the total portfolio of Bonds/ CPs purchased by PSBs under the Scheme.

It is expected that the above modification will provide greater flexibility to PSBs in purchasing Bonds/CPs under PCGS 2.0.

Under Pradhan Mantri Gram Sadak Yojana, 1858 roads of length 11,517 km and 84 bridges have been completed in Jammu & Kashmir

 Pradhan Mantri Gram Sadak Yojana (PMGSY), is a flagship program of Govt. of India for providing connectivity to unconnected habitations, based on census 2001. In the UTs of J&K and Ladakh, all unconnected habitations of population above 250, are eligible under the program. In the UT of Jammu & Kashmir, 3,261 roads of length of 19,277 km and 243 bridges have been sanctioned, out of which 1858 roads of length 11,517 km and 84 bridges have been completed. Similarly, in the UT of Ladakh, 142 roads of length of 1207 km and 3 bridges have been sanctioned, out of which 96 roads of length 699 km and 2 bridges have been completed till July 2020. Works for connecting 2,149 eligible unconnected habitations were sanctioned in the UT of Jammu and Kashmir, out of which 1,858 habitations have been connected. In the UT of Ladakh, works for 65 eligible habitations were sanctioned and 64 habitations have been already connected by July 2020.

Large number of sanctioned road works could not be started by August 2019, because of non- availability of clearance from forest department. However, substantial numbers of such pending cases have been resolved, and works have been awarded and started during last one year, with changes in the governance system. During last one year, 181 number of road works of length 1,292 km and 11 bridges have been completed, with an expenditure of more than Rs 715 crore (US$ 101.43 million).

 

Following two cases are presented as good examples of development of road works under Pradhan Mantri Gram Sadak Yojana (PMGSY).

Upgradation of Link Road from T03 to Stok (PMGSY Leh)

Length: 11.70 Kms, Sanctioned Cost: Rs 1,299.78 lakh (US$ 1.84 million)

The road proposed to village Stok in district Leh, takes off from km 2nd of Choglamsar Hemis road to Stok village for a length of 11.70 Kms benefitting a population of 1855, as per 2001 census. This scheme was sanctioned under PMGSYS-I, in the year 2018-19 (Phase XII). The earlier road was in a damaged condition and was not serving as all-weather road. This road is being constructed by using plastic waste for the first time in the entire Leh district. In this technology, the waste plastic is used in shredded form, and is pushed into the hot mix plant over the heated aggregates. The plastic melts and coats the heated aggregates before the aggregates are coated with hot bitumen. This technology will reduce the plastic waste and strengthen the pavement structure of the road, by reducing the water absorption of aggregates. This project was started in the year 2019 and length of 7 Kms has been completed up to Bituminous Surface level and the balance length is in progress and shall be completed by October-2020. By upgradation of the road, the habitants of the village Stok will get all weather connectivity with the nearest market due to which the socio-economic conditions of the habitants will be improved. During summer, thousands of tourists go to this village to visit the Museum in Royal palace, Stok Monastery and the start point of the trek route to Stok Kangri which is a major tourist attraction.

 

Upgradation of Road from Supply More T03 to Kainthgali (PMGSY Jammu)

Length: 27.70 Kms, Sanctioned Cost: Rs 2,389.32 lakh (US$ 3.39 million)

This road takes off from Supply More Udhampur to Kainthgali village in district Udhampur, having length of 27 Km benefitting a population of 1608 souls as per 2001 census. This project has been sanctioned under PMGSYS-I, Phase XII in the year 2018-19. The work has been awarded, in October 2018. This project has been taken up for upgradtion in 2018-19, but work being slow due to various impediments and clearances etc. Now the work is in good pace and length of 11 Km has been completed up to BT status and the balance work up to BT status shall be completed by March-2021. By up-gradation/improvement of this road, the population of the 5 No villages namely Dabreh, Krimachi, Mansar, Pathi, kainthgali will be provided better connectivity to the nearest market and District Head-Quarter Udhampur.

With construction of such all-weather roads, the socio-economic condition of the inhabitants of the stated villages will certainly improve and the habitants will have better access to schools, health centres and markets. There are some tourist spots near these roads and during summer, thousands of tourists go to tourist destinations such as Panchari, Stok Kangri, Stok Monastery which are surrounded with meadows of forest and mountains and during winters, snow-clad mountains and a picturesque landscape with the most scenic views reflects the nature’s beauty at its best. The road from supply more to Kainthgali also provides all weather road to a well-known pilgrimage centre where lacs of tourists visit every year.  With construction of these roads, the inflow of tourists will certainly increase thereby improving the living standards of the inhabitants of the rural/far-flung areas.

Monday, August 17, 2020

Medha invests Rs 1,000 crore, sets up rail coach factory in Telangana

 

A Hyderabad-based diversified firm, Medha Servo Drives laid the foundation for setting up a rail coach factory in Telangana at an investment of Rs 1,000 crore (US$ 141.86 million).

The ground-breaking ceremony of the Medha Rail Coach Factory in Kondakal village in neighbouring Rangareddy district was attended by State Minister for IT and Industries Mr KT Rama Rao.

It is expected that the factory will generate 1,000 direct and 1,200 indirect jobs in the region.

"The facility will have a capacity of manufacturing coaches, locomotives, inter-city train sets, metro trains and monorail, among others. Production capacity is planned for 500 coaches of various types and 50 locomotives per year," Medha Servo said.

Medha Servo Drives Pvt. Ltd designs and manufactures various world-class high-tech electronics products for application on locomotives, train sets, coaches, railway stations and yards, making it the largest propulsion equipment supplier to the Indian Railways.

Mr Rama Rao said, “Chief Minister K Chandrashekhar Rao-led governments pro-active approach and conducive policies have encouraged Medha Group to establish its world-class rail coach factory”.

The facility is expected to create an eco-system for rail coach manufacturing in the state.

This will be the largest private sector rail coach manufacturing unit in the country.

NITI Aayog's Atal Innovation Mission, NASSCOM launch Artificial Intelligence Step-up modules to school students nationwide

 

After a successful launch of a unique initiative to take Artificial Intelligence (AI) to schools through ‘ATL AI Modules’, Atal Innovation Mission, NITI Aayog in collaboration with NASSCOM launched the ‘ATL AI Step Up Module’ for students on the eve of India’s Independence Day in order to drive AI education and innovation to the next level in schools across the country.

This module is the next step in bringing AI to Indian classrooms and is a successor to the AI Base module launched in February this year. The AI Step-up Module provides a comprehensive set of learn it yourself Advanced modules to those who wish to expand their knowledge base after becoming familiar with the basics of the AI discipline through the AI base module.

With this new launch, through hands-on projects and activities, the step-up module encourages a deeper understanding of AI which can be applied in the real world. The module is designed in an attractive graphical manner that is comprehensible for all students belonging to rural and urban areas.

Meanwhile, the step-up module needs no previous knowledge and introduces the concepts to students from the basics using interactive tools and activities so as to keep their attention undivided. Moreover, the objective of this module is to challenge students and create opportunities in the coming years making students the Change makers and torch bearers of innovation.

Speaking on the importance of introducing AI to school students, CEO NITI Aayog Mr Amitabh Kant said the AI step up module is the future of this country as it targets the youth which in itself is path breaking. “Actually, this launch is on the very critical day as India is celebrating its 74th Independence Day and I am glad to announce on the eve of Independence Day this ATL AI step up module by NITI Aayog through AIM for students of this nation. AI is really the future for our children, and it is the truly unique endeavour by AIM and NASSCOM,” he said.

He urged young India to take this opportunity positively and explore the module to create valuable solutions which would pave way for the country to truly become Atmanirbhar Bharat.

Speaking on the virtual launch, Mission Director Atal Innovation Mission Mr R Ramanan said that this first ever Industry government academia initiative has received a huge response from students by the introduction of base module and now AIM, NITI Aayog and NASSCOM is proud to launch its step-up module.Inputs from leading academic institutions including IITs have contributed in the development of these modules.

“The Base module was specifically devised considering students as young as 12 years of age, with absolutely no prior background of AI to ignite curiosity on AI in their young minds and to contribute to the ecosystem of innovation.Step up module has been exquisitely designed and presented to involve young students across the country to induce inclusive learning and to empower youngsters of our country to create AI integrated innovations,” he added.

Sharing her views NASSCOM President Debjani Ghosh said “The rapid advancement of technology, such as AI and Robotics, has penetrated all industries, including education. As the world gets transformed with innovation, it is hearting to see how the youth of our country are acquiring great fondness towards the digital method of studying and adopting Artificial Intelligence in it,” she asserted.

She further added that with the aim of introduction of digital literacy, coding, and computational thinking, these modules can empower young people to meaningfully interact with AI-based technologies and bolster learning. Skills such as logical thinking, critical thinking and problem-solving skills are going to be the most important skills for success in professional life in the coming decade.

The module is a directed step by the government of India in building citizens and a workforce that is aware of AI and can work with AI. It has been created keeping the age group of its intended audience in mind, so that they can be easily understood by any individual who has just been exposed to the idea of AI.

The AI Step-Up module would be available for all students across the country and could be accessed at https://aim.gov.in/Lets_learn_AI_StepUp_Module.pdf.

The virtual launch today was attended by officials of AIM, NITI Aayog, NASSCOM, Industry Partners and Academia

Union Minister of Youth Affairs and Sports Shri Kiren Rijiju launches nation-wide initiative of Fit India Youth Clubs to promote fitness among every citizen

 Union Minister of Youth and Sports Mr Kiren Rijiju launched yet another nation-wide initiative, the Fit India Youth Club, on the occasion of the 73rd Independence Day of the country today. The Fit India Youth Club, a part of the Fit India Movement envisioned by Prime Minister, endeavours to harness the power of youth to create mass awareness about the importance of fitness, across the country.

The Fit India Youth Clubs bring together fitness and voluntarism in a unique way in which 75 lakh volunteers of Nehru Yuva Kendra Sangathan and National Service Scheme, along with Scouts and Guides, NCC and other youth organisations will come together to register as Fit India Youth Clubs in every block in the country, under the aegis of a district unit and each member of the club will motivate people from the community to take up fitness activities of 30 to 60 minutes in his or her daily routine. Additionally, the clubs will organise and encourage schools and local bodies to organise one community fitness programme every quarter.

Speaking about the initiative, Shri Rijiju said, “Only a fit citizen can contribute adequately to his or her country and help fellow citizens in their times of need. India is a country of 1.3 billion people, and we have 75 lakh youth volunteers already, and that number will go up to 1 crore very soon. I am sure that this one crore volunteers can motivate at least 30 crore Indians in every nook and corner of India to take up fitness activities regularly. With time, both the numbers of volunteers and those who can be motivated to join the Fit India Movement will grow, and soon, we will be able to reach out to every Indian.”

One of the first initiatives that will be taken up by the Fit India Youth Clubs is to popularise the Fit India Freedom Run, which begins from August 15 to October 2 and is a unique concept that allows participants to run at their pace and at their place and plan their own running routes. The run has already gathered momentum across the country, with elite athletes, corporate leaders, men in uniform, school students taking to social media and posting pictures and videos of their Independence Day runs with #Run4India and #NewIndiaFitIndia.

“The Fit India Movement will complete one year on August 29. Like the various events that have been organised in the last year, the Fit India Freedom Run has also attracted every section of the country. Various organisations like CISF, ITBP, BSF, CBSE Schools, CICSE schools, our own NSS, NYKS volunteers Scouts and Guides other youth organisations are taking active part. We will be assessing which block, district and city has performed the best in the run. It is important to keep a target and keep assessing our performance as a nation.”

Indian Railways generate more than 5.5 lakhs mandays of work under Gareeb Kalyan Rozgar Abhiyan in 6 States viz. Bihar, Jharkhand, Madhya Pradesh, Odisha, Rajasthan and Uttar Pradesh

 

Indian Railways has generated more than 5.5 lakhs mandays of work under Gareeb Kalyan Rozgar Abhiyan in 6 States viz. Bihar, Jharkhand, Madhya Pradesh, Odisha, Rajasthan, and Uttar Pradesh.

Shri Piyush Goyal, Minister of Railways and Commerce & Industry is closely monitoring the progress made in these projects and generation of work opportunities for the migrant labours of these states under this scheme. Around 165 Railway infrastructure projects are being executed in these states worth Rs 2,988 crore (US$ 423.89 million). Till August 14, 2020, 11296 workers have been engaged in this Abhiyaan and the payment of Rs 1,336.84 crore (US$ 189.65 million) has been released to the contractors for the projects being implemented.

Railway has appointed nodal officers in each district as well as in the States so that a close coordination is established with the State Government. Minister of Railways, Commerce and Industry, Shri Piyush Goyal has directed Railway administration at Zonal level to act proactively to ensure migrants are engaged in projects and paid accordingly.

Railway has identified no. of railway works which are being executed under this scheme. The works are related to

  • construction and maintenance of approach roads for level crossings,
  • development & cleaning of silted waterways, trenches and drains along the track,
  • construction and maintenance of approach road to railway stations,
  • repair and widening of existing railway embankments / cuttings,
  • plantation of trees at extreme boundary of railway land and
  • protection works of existing embankments/ cuttings/bridges.

 

It may be noted that Hon’ble Prime Minister Shri Narendra Modi launched a massive employment -cum- rural public works campaign named Garib Kalyan Rojgar Abhiyaan to empower and provide livelihood opportunities in areas/ villages witnessing large number of returnee migrant workers affected by the devastating COVID-19 on 20th June 2020. The Prime Minister announced that an amount of Rs 50,000 crore (US$ 7.09 billion) would be spent for building durable rural infrastructure under the Garib Kalyan Rojgar Abhiyaan.

This Abhiyaan of 125 days, is being undertaken in mission mode, and involves focused implementation of 25 categories of works/ activities in 116 districts, each with a large concentration of returnee migrant workers in 6 states of Bihar, Uttar Pradesh, Madhya Pradesh, Rajasthan, Jharkhand, and Odisha. Public works is being undertaken during this campaign will have a resource envelope of Rs 50,000 crore (US$ 7.09 billion).

The Abhiyaan is a convergent effort between 12 different Ministries/Departments, namely; Rural Development, Panchayati Raj, Road Transport & Highways, Mines, Drinking Water & Sanitation, Environment, Railways, Petroleum & Natural Gas, New & Renewable Energy, Border Roads, Telecom and Agriculture, to expedite implementation of 25 public infrastructure works and works relating to augmentation of livelihood opportunities.

8.54 per cent increase in total kharif sowing area in comparison to last year

 There has been satisfactory progress of sowing area coverage under Kharif crops. As on 14.08.2020, the total kharif crops have been sown on 1015.58 lakh ha area against 935.70 lakh ha area during the corresponding period of last year, thus increase in area coverage by 8.54 per cent compared to last year in the country. The crop wise area sown is as under:

  • Rice: About 351.86 lakh ha area coverage under rice as compared to 308.51 lakh ha. during the corresponding period of last year. Thus 43.35 lakh ha more area has been covered compared to last year.
  • Pulses: About 124.01 lakh ha area coverage under pulses as compared to 121.50 lakh ha. during the corresponding period of last year. Thus 2.51 lakh ha more area has been covered compared to last year.
  • Coarse Cereals: About 168.12 lakh ha area coverage under coarse cereals as compared to 162.28 lakh ha. during the corresponding period of last year. Thus 5.84 lakh ha more area has been covered compared to last year.
  • Oilseeds: About 187.14 lakh ha area coverage under oilseeds as compared to 163.57 lakh ha. during the corresponding period of last year. Thus 23.56 lakh ha more area has been covered compared to last year.
  • Sugarcane: About 52.02 lakh ha area coverage under sugarcane as compared to 51.40 lakh ha. during the corresponding period of last year. Thus 0.62 lakh ha more area has been covered compared to last year.
  • Jute & Mesta: About 6.96 lakh ha area coverage under jute & mesta as compared to 6.85 lakh ha. during the corresponding period of last year. Thus 0.11 lakh ha more area has been covered compared to last year.
  • Cotton: About 125.48 lakh ha area coverage under cotton as compared to 121.58 lakh ha. during the corresponding period of last year. Thus 3.90 lakh ha more area has been covered compared to last year.

Central Water Commission (CWC) has reported that the live water storage in 123 reservoirs in different parts of the country is 88 per cent of the corresponding period of the last year.

Friday, August 14, 2020

India ranks first in number of organic farmers and ninth in terms of area under organic farming; Major organic exports from India are flax seeds, sesame, soybean, tea, medicinal plants, rice and pulses

 

The growth story of organic farming is unfolding with increasing demand not only in India but also globally. In a world battered by the COVID pandemic, the demand for healthy and safe food is already showing an upward trend and hence this is an opportune moment to be captured for a win-win situation for our farmers, consumers and the environment.

India ranks first in number of organic farmers and ninth in terms of area under organic farming. Sikkim became the first State in the world to become fully organic and other States including Tripura and Uttarakhand have set similar targets. North East India has traditionally been organic, and the consumption of chemicals is far less than rest of the country. Similarly, the tribal and island territories are being nurtured to continue their organic story.

With the aim of assisting farmers to adopt organic farming and improve remunerations due to premium prices, two dedicated programs namely Mission Organic Value Chain Development for North East Region (MOVCD) and Paramparagat Krishi Vikas Yojana (PKVY) were launched in 2015 to encourage chemical free farming. With the simultaneous thrust given by the Agri-export Policy 2018, India can emerge as a major player in global organic markets. The major organic exports from India have been flax seeds, sesame, soybean, tea, medicinal plants, rice, and pulses, which were instrumental in driving an increase of nearly 50 per cent in organic exports in 2018-19, touching Rs 5151 crore (US$ 730.74 million). Modest commencement of exports from Assam, Mizoram, Manipur and Nagaland to UK, USA, Swaziland, and Italy have proved the potential by increasing volumes and expanding to new destinations as the demand for health foods increases.

Certification is an important element of organic produce to instill customer confidence. Both PKVY and MOVCD are promoting certification under Participatory Guarantee System (PGS) and National Program for Organic Production (NPOP) respectively targeting domestic and exports markets. The Food Safety and Standards (Organic Foods) Regulations, 2017 are based on the standards of NPOP and PGS. The consumer should look for the logos of FSSAI, Jaivik Bharat / PGS Organic India on the produce to establish the organic authenticity of the produce. PGS Green is given to chemical free produce under transition to ‘organic’ which takes 3 years.

About 40,000 clusters are being assisted under PKVY covering an area of about 7 lakh ha. MOVCD has brought in its fold 160 FPOs cultivating about 80,000 ha. For these clusters to become sustainable, it is important that henceforth market led production starts in a contract farming mode, so that there is a ready market for the produce and industry also gets the desired quality and quantity when required. This is being pursued in right earnest with bulk buyers including the phyto extracts industries. The commodities with highest potential include ginger, turmeric, black rice, spices, nutri cereals, pineapples, medicinal plants, buckwheat, bamboo shoots, etc. Supplies have started from NER including for Mother Dairy from Meghalaya, Revanta Foods and Big Basket from Manipur. Number of instances of farmer groups setting up markets in RWAs and selling directly is increasingly becoming common especially in Maharashtra and Karnataka where fresh organic produce is lapped up by the urbanites and farmers get a better bargain with no intermediaries. The presence of aggregators is imperative to bring about economies of scale for the small and marginal farmers. Hence the concept of market led One district - One product is being encouraged, as also development of more clusters in the vicinity of bigger towns where the appetite for organics will be much more.

When the pandemic struck India, access to quality food was as high on priority for the country as much as health. Advisories to States on supporting direct marketing in order to decongest mandis led to number of States issuing orders and amending legislations, thereby opening up market options to farmers. Working within the constraints posed due to disruption in logistics, access to regular markets, decrease in demand, number of States and clusters innovated and converted this crisis into an opportunity. The Green Caravan of Kohima created market linkages from all villages of Nagaland to urban areas for vegetables, handicrafts, and handlooms (www.instamojo.com). There was online sale of fruits and vegetables by FPOs in Maharashtra and doorstep delivery in specially designed electric vans in Punjab. Manipur Organic Agency (MoMA) mobilised all the 15 FPCs of MOVCD to collect produce and transport to two organic wholesale centers at Sanjenthong and Chingmeriong in Imphal for onward delivery to consumers.

The organic e-commerce platform www.jaivikkheti.in is being strengthened for directly linking farmers with retail as well as bulk buyers. Infusion of digital technology in a much bigger way has been a major takeaway during the pandemic period and is a welcome norm here to stay, saving in expenses on travel, logistics, etc while not compromising in any way on the quality of information sharing. In fact, video conferencing and webinars makes possible outreach with many more in the field, with minimum disruption in their works too and which was not possible in physical meetings. The NER States also participated in a webinar on Integrated Organic Farming models developed by ICAR, for increasing productivity, integrated nutrient and pest management and hence increase in farmers’ income. Video conferences are being held to understand the issues being faced by companies and strengthen the conversations with States and Regional Councils responsible for handholding clusters and in the process new partnerships are being forged for direct procurement from the farmers/farmer groups.

Natural farming is not a new concept in India, with farmers having tilled their land without the use of chemicals - largely relying on organic residues, cow dung, composts, etc since time immemorial. The philosophy underlying organic farming of integration of the elements – soil, water, microbes and ‘waste’ products, forestry and agriculture is the correct recipe for sustainable use of natural resources, which are coming under severe stress due to ever increasing requirement of food and feedstock for agri based industry. This is also in sync with the Sustainable Development Goal 2 targeting ‘end hunger, achieve food security and improved nutrition and promote sustainable agriculture’.

Hence with greater awareness and capacity building of the producers on compliance with international standards, Indian organic farmers will soon be reinforcing their rightful place in global agri trade.

Israel's Coralogix to invest over US$ 30 million in India in 5 years

 

Israel-based Coralogix, provider of machine-learning based log analytics and monitoring solution, announced a strategic expansion into India with a commitment to invest over US$ 30 million in the next 5 years.

Under this expansion plans, the company plans to set up a new Amazon Web Services (AWS) in Mumbai region to help companies with regional server support, data storage capabilities, and compliance with the upcoming security laws.

“By localizing data, Coralogix will help customers meet compliance requirements for India’s new data privacy laws and dramatically improve service performance," the company said in a statement.

It is also introducing an onsite team to provide sales and customer success support to India-based companies.

“With today’s strategic move, we are proactively addressing new Indian data privacy laws scheduled to take effect in 2021 by providing Coralogix customers with a solution well ahead of most of our competitors," said Mr Ariel Assaraf, CEO and cofounder, Coralogix. “When the new laws are enacted, we anticipate a profound sense of urgency for companies who fall under domestic compliance rules to store their data locally and avoid being penalized for non-compliance."

Amazon India launches online pharmacy service

 Amazon India, an e-commerce firm, rolled out Amazon Pharmacy, foraying into the online medicine segment that has significant gained momentum during the COVID-19 led lockdown and even after unlocking.

The service has been initially introduced in Bengaluru and company plans to conduct pilots in other cities too going forward.

This is on the back of Government imposed lockdown and social distancing to prevent COVID-19 from spreading, customers have move to online consultation, treatment, medical tests, and medicine delivery. There is huge demand seen by healthcare start-ups Practo, NetMeds, 1mg, PharmEasy and Medlife along with increase funding activity, like ed-tech platforms, which outperformed all other sectors among start-ups.

“As a part of our commitment to fulfil the needs of customers, we are launching Amazon Pharmacy in Bengaluru allowing customers to order prescription-based medication in addition to over-the-counter medicines, basic health devices and Ayurveda medication from certified sellers. This is particularly relevant in present times as it will help customers meet their essential needs while staying safe at home," an Amazon spokesperson said.

India’s digital health market will increase to US$ 4.5 billion in this financial year, compared with US$ 1.2 billion in FY20, as per the data by RedSeer Consulting. It is estimated that the market of the digital health will expand to US$ 25 billion in FY25, compared with its pre-COVID estimate of US$ 19 billion. The largest majority will be held by medicine delivery segment.

There has been increase in user interest and demand post COVID that is seen by bigger healthcare firms like Practo, 1mg, Medlife, PharmEasy, Netmeds as well as smaller start-ups like BeatO and mfine, as people spend on boosting their immunity, treat illnesses through online consultations and buy medicines online.

Mfine, a Bengaluru-based on-demand healthcare service, have grown 3-4 times in recent months. E-health platform Practo Technologies too registered a 600 per cent growth in online consultations since the lockdown started in March, with 70 per cent of all users being first-time telemedicine users and 45 per cent from smaller cities.

Several countries are trying to shift healthcare delivery on to the internet, incentivise telemedicine, encourage online medicine bookings and use chatbots to answer patient queries.