Tamil Nadu has launched a revamped Startup and Innovation Policy 2023 with several action points aimed at making the state achieve leadership in the startup ecosystem, the government said on Wednesday.
The policy, equipped with 50 action points, was rolled out by Chief Minister M K Stalin at the Secretariat to support the state government's vision at becoming a USD 1 trillion economy by 2030.
The decision to upgrade the startup and innovation policy came following the surge in the number of registered startups. As of September 2023, registered startups in the state exceeded 7,000 and have attracted significant venture capital investments.
The policy, which will be valid for the period 2023-2028, will be the fuel to accelerate and scale startups and increase their share in the State's GDP. The main focus of this policy framework is to establish a democratised ecosystem that fosters innovation and entrepreneurship, transforming the state into a land of opportunities, the government ..

startups, funding, business

The state is represented by Chennai and Coimbatore as two of the top 400 startup cities globally, as per the Blink Startup Ecosystem Report, 2022

A solar-powered tech venture that is combating food waste in India is among 15 worldwide finalists competing for the GBP 1 million 2023 Earthshot Prize, founded by Britain's Prince William and dubbed the Eco Oscars'.
S4S Technologies, founded in 2013 by seven university friends Nidhi Pant, Vaibhav Tidke, Swapnil Kokte, Ganesh Bhere, Shital Somani, Tushar Gaware and Ashwin Pawade, is shortlisted in the Earthshot Prize to Build a Waste-Free World category as the finalists were unveiled by the royal during a visit to New York on Tuesday.
S4S, which stands for Science for Society, made the cut for its work in tackling food waste, rural poverty, and gender inequality by helping smallholder female farmers preserve and market surplus produce.
The organisation provides rural communities with cheaper solar-powered conduction dryers and food processing equipment to prepare their crops on-site, rather than using cold storage or other more expensive methods of conventional industrial food ...

renewable energy

The Prince of Wales announced the 15 finalists at the second Earthshot Innovation Summit, held alongside the UN General Assembly in New York

The revenue density, calculated as revenue per square feet, is, however, expected to remain below the pre-pandemic level: CRISIL

Apparel

Meta Founder and CEO Mark Zuckerberg on Wednesday said India is leading the world on how people and businesses have embraced messaging as a better way to get things done, as the social media giant unveiled a slew of new tools aimed at supercharging businesses using WhatsApp.
Announcing the line-up of key offerings for WhatsApp, Zuckerberg said the company has continued to innovate with its messaging formats, group chats and broadcast channels.
"India, (is) a country that's at the forefront of a lot of what we're going to talk about today. You're (India is) leading the world in terms of how people and businesses have embraced messaging as the better way to get things done. Zuckerberg said during a virtual address at Conversations event in Mumbai.
The announcements included Meta verified badge for businesses, and expansion of payments service that will facilitate completion of purchases directly in the chat.
Zuckerberg also spoke about WhatsApp Flows, which will give businesses the .

Mark Zuckerberg

Announcing the line-up of key offerings for WhatsApp, Zuckerberg said the company has continued to innovate with its messaging formats, group chats and broadcast channels

The young airline, which is facing pilot exits, is yet to announce its first international destination

Akasa Air

According to Trai's new tariff order (NTO) regime, distributors can not break broadcaster bouquets and must offer them to customers without making any changes

TV channel, dish antenna

Indian Railways has earned an additional revenue of more than Rs 2,800 crore from child travellers in the last seven years by revising child travel fare norms, an RTI response has found.
The response from the Centre for Railway Information Systems (CRIS) under the Right to Information (RTI) Act further indicates that the financial year of 2022-23 alone earned Rs 560 crore due to the amended norms making it the most profitable year.
CRIS, an organisation under the Ministry of Railways, provides IT solutions in core areas such as ticketing and passengers, freight services, train traffic control and operations, among others.
On March 31, 2016, the ministry announced that the railways would charge full adult fare for children of age 5 years and under 12 years if they opted for separate berths or seats in a reserved coach. The revised norm was made applicable from April 21, 2016.
Earlier, the railways used to offer separate berths to children between 5 and 12 years while charging only h

Indian Railways deemed to cancel up to 170 trains on August 11.

Indian Railways

Indian Railways has earned an additional revenue of more than Rs 2,800 crore from child travellers in the last seven years by revising child travel fare norms, an RTI response has found

Kia, which topped the survey in 2022 and 2021, slipped to fifth place in this year's assessment

Hyundai, Hyundai Motor

The overall satisfaction of automobile dealers with regards to their relationship with manufacturers has improved but dealer viability and policy issues remain major concerns, Federation of Automobile Dealers Associations said on Wednesday.
In its 'Dealer Satisfaction Study 2023' conducted in collaboration with PremonAsia, a consumer insights and advisory services firm, Federation of Automobile Dealers Associations (FADA) said at an aggregate industry level, the average dealer satisfaction score stood at 767 out of a maximum 1,000 points, an increase of 48 points from a year ago.
Commercial Vehicle (CV) dealers were the most satisfied with 778 points, followed by mass market four-wheeler (4W) dealers at 769 points and two-wheeler (2W) dealers with 763 points.
"The year-on-year improvements underscore the indispensable value of this annual study in identifying critical issues to fortify the auto OEM-dealer partnership. While auto dealers are increasingly optimistic, concerns related 

automobile

Commercial Vehicle (CV) dealers were the most satisfied with 778 points, followed by mass market four-wheeler (4W) dealers at 769 points and two-wheeler (2W) dealers with 763 points

The Delhi government plans to make the document submission process for overage vehicles completely faceless to ensure transparency, officials said on Tuesday.
Five million such vehicles were deregistered between January and October last year.
"We have plans to launch a portal and make the service completely faceless to ensure transparency. We are trying to ensure that the documents that have to be uploaded and the undertaking that they will have to submit, (the process) will be online," the official said.
Another official said the Transport Department is almost ready with the fine points of the initiative and the file will be submitted to Transport Minister Kailash Gahlot.
The Delhi High Court had asked the city government to frame a policy on dealing with such vehicles when owners are willing to assure that these vehicles would not be used here.
"The disengagement of 437 consultants and experts following the directions of LG V K Saxena also affected framing of policies of Delhi .

Cars, Traffic, Automobile

Another official said the Transport Department is almost ready with the fine points of the initiative and the file will be submitted to Transport Minister Kailash Gahlot

Society of Manufacturers of Electric Vehicles (SMEV) on Tuesday urged the government to formulate a unified policy of road tax exemption for Electric Vehicles (EVs) across the country.
In a letter to the Union Road Transport and Highways Minister Nitin Gadkari, SMEV said a consistent and favourable policy environment is essential to accelerate the shift towards electric mobility in India.
"I am writing to request your esteemed office to weigh in on a unified policy of road tax exemption for EVs that will play a pivotal role in encouraging the adoption of clean and sustainable transportation options, which is vital for our nation's environmental and economic future," SMEV Chief Evangelist Sanjay Kaul wrote.
In July, SMEV had named Kaul as its Chief Evangelist to help revise the association's agenda.
In view of the Ministry of Heavy Industries' decision to reduce the subsidy component mid-way through the FAME II scheme, this input (unified policy of road tax exemption for EVs) from t

Electric vehicles

In a letter to the Union Road Transport and Highways Minister Nitin Gadkari, SMEV said a consistent and favourable policy environment is essential to accelerate the shift towards electric mobility

The Himachal Pradesh government on Saturday announced the launch of a scheme to offer collateral-free loans to small-scale enterprises and skill-based workers such as cobblers, tailors, barbers and vegetable vendors.
The state government has earmarked Rs 40 crore for the Mukhya Mantri Laghu Dukandar Kalyan Yojna (MMLDKY) and said that it will target the inclusion of 75,000 individuals falling in the 18-55 age bracket in its initial phase, a statement issued here on Saturday said.
The government has devised a comprehensive scheme to offer collateral-free loans, aiming to financially fortify small scale enterprises and would provide accessible loans of up to Rs 50,000 with a substantial 50 per cent interest subsidy, the statement added.
"The scheme aims to empower small entrepreneurs and uplift the state's economy", Chief Minister Sukhvinder Singh Sukhu said.
He added that the government envisions providing vital support to those who often face hurdles in accessing financial resource

Sukhwinder Singh Sukhu

"The scheme aims to empower small entrepreneurs and uplift the state's economy", Chief Minister Sukhvinder Singh Sukhu said

Section 4(1) of the Competition Act, 2002 says that no enterprise or group shall abuse its dominant position

DGFT building, New Delhi

Ramas Krishnan, managing partner of TAB India, said, "We began TAB India operations in Mumbai

MSMEs

India is home to 64 million micro, small and medium enterprises (MSMEs), contributing 30 per cent of the nation's GDP

MSME ministry likely to streamline existing schemes for better results

NBFCs' reliance on banks increased, particularly for NBFCs in the upper layer (NBFCs-UL), whose direct bank borrowings have grown steadily

NBFCs

"The estimates are that around Rs 90,000 crore to Rs 1 trillion will go out as goods and services tax (GST) outflow," a dealer at a primary dealership said

Budget 2019: Liquidity support to banks does not rescue weak NBFCs

While total employees working with PSBs are falling over the years, the number of those in officer's grade has risen from 386,000 at the end of March, 2020, to 397,000 in March, 2023

Bank employee

State Bank of India (SBI) has introduced a digital facility for Non-Resident Indians (NRIs) to effortlessly open NRE and NRO accounts (both savings and current accounts) through its mobile app YONO.
This service is designed for NTB or 'new to bank' customers, providing them with ease and efficiency in the account opening process, SBI said in a statement on Monday.
This initiative fulfils a long-standing demand from NRI customers for a hassle-free way to open and manage their accounts in India, it said.
An Non-Residential External (NRE) account is a bank account opened in India in the name of an NRI, to park his foreign earnings; whereas, an Non-Resident Ordinary (NRO) account is opened in India in the name of an NRI, to manage the income earned by him/her in India. These incomes include rent, dividend, pension, interest, etc.
The bank has leveraged technology to create a seamless, digitized account opening process that ensures efficiency and accuracy, making it a one-stop solution

This service is designed for NTB or 'new to bank' customers, providing them with ease and efficiency in the account opening process, SBI said in a statement on Monday

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The state is one of the top producers of mustard, moth beans, bajra, guar, and Isabgol

farmers, agriculture, farm

Truemeds-2

Starting a business is not easy, and a successful business requires capital, patience, team, etc. If you have capital you are already in a better position. Check top 10 business ideas under 20 lakhs

State-run banks may get flexibility in deciding employees' salaries

Arjun Mohan, a member of the founding team who most recently served as the Chief Business Officer, has rejoined the company after a stint at Ronnie Screwvala-led UpGrad

Arjun Mohan

The airline, which operates about 120 flights per day, is expecting to cancel a total of approximately 600-700 flights in September if the spate of resignations continue

But, experts say there may not be an immediate impact

India-Canada tensions: Multi-billion economic deals at risk if rift widens

India-Canada

Closing Bell on Wednesday, September 20: HDFC Bank shares were the biggest dragger on the benchmarks as they dropped nearly 4 per cent, while JSW Steel, and Reliance Industries fell over 2 per cent

Stock broker, broker, trader, marker, markets, stock markets, stock, market crash, market fall, loss

A view of the Kovalam lighthouse in Kerala. The Ministry of Ports, Shipping, and Waterways is holding a lighthouse festival on September 23-25

Lighthouse

Last week, Union Ministers had called for quick adoption of biofuels in the transportation sector

biofuel, planet, earth, petrol

Not surprisingly, Aggarwal's rivals are less than charitable towards him and, though they won't come on record while saying this, dismiss Aggarwal's e-motorcycles as "another of his teaser campaigns"

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