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PM Modi Announces Talks to Include Cyprus in UPI, Hails India's Digital Payment Revolution

PM Modi Announces Talks to Include Cyprus in UPI, Hails India's Digital Payment Revolution

Time of Indiaa day ago

TOI.in
/ Jun 16, 2025, 09:49AM IST
In a landmark announcement at the India-Cyprus CEO Forum in Limassol, Prime Minister Narendra Modi revealed that talks are underway to bring Cyprus into the Unified Payments Interface (UPI) network. Highlighting India's digital transformation, PM Modi stated that 50% of global digital transactions now occur in India through UPI. He welcomed Cyprus' potential inclusion, pointing to the growing global footprint of India's real-time payment system, already adopted by countries like France. Modi also emphasized India's innovation-driven growth, noting over 1 lakh startups are powering solutions worldwide. From massive infrastructure investments to new policies in shipbuilding and aviation, the address showcased India's rising global economic influence and strong fintech leadership. The collaboration with Cyprus marks a bold step in expanding India's financial and technological diplomacy.#PMModi #ModiInCyprus #UPIExpansion #DigitalIndia #FintechDiplomacy #IndiaCyprusRelations #NarendraModi #IndiaUPI #GlobalUPI #UPIGoesGlobal #IndianEconomy #toi #toibharat #bharat #breakingnews #indianews

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Chennai-Born engineer Prof. Chandrakasan appointed Provost of MIT
Chennai-Born engineer Prof. Chandrakasan appointed Provost of MIT

The Hindu

time33 minutes ago

  • The Hindu

Chennai-Born engineer Prof. Chandrakasan appointed Provost of MIT

Prof. Anantha Chandrakasan has been named Massachusetts Institute of Technology's new provost. The Consulate General of India in New York congratulated Prof. Chandrakasan, noting that he is the first Indian-American to have achieved this feat. Chennai-born Prof. Chandrakasan, who is MIT's chief innovation and strategy officer and Dean of Engineering, will begin his new role on July 1. The MIT provost is the institute's chief academic and budget officer, with a wide-ranging portfolio that encompasses everything related to faculty, oversight of the educational enterprise, and prime responsibility for MIT's strategic planning. In a statement from MIT, Prof. Chandrakasan said he is 'deeply honoured' to take on the role of provost. 'Looking ahead, I see myself as a key facilitator, enabling faculty, students, postdocs, and staff to continue making extraordinary contributions to the nation and the world,' he said. At a 'perilous' time for MIT MIT President Sally Kornbluth, in making the announcement, said that Prof. Chandrakasan was chosen from a group of outstanding internal candidates and brings to this post an exceptional record of shaping and leading important innovations for the Institute. Ms. Kornbluth noted that Prof. Chandrakasan steps into the provost's role at a 'perilous' time for MIT when some of its most basic operating assumptions – including MIT's ability to count on extensive federal support for its mission of research, education and innovation, and to attract and retain superb talent from around the world – are now uncertain. 'In a time of such intense pressure and potentially historic change, I am particularly grateful that we will be able to draw on Anantha's depth and breadth of experience; his nimbleness, entrepreneurial spirit and boundless energy; his remarkable record in raising funds from outside sources for important ideas; and his profound commitment to MIT's mission,' she said. The Consulate General of India said, 'A distinguished academic and leader, Prof. Chandrakasan has remained a strong advocate of India-USA technological and R&D collaboration; has been working with various Indian government and private sector stakeholders towards this objective. We wish him all success in this important responsibility'. Prof. Chandrakasan has served as the dean of the School of Engineering since 2017 and as MIT's inaugural chief innovation and strategy officer since 2024. Prior to becoming dean, he headed the Department of Electrical Engineering and Computer Science (EECS), MIT's largest academic department, for six years. Ms. Kornbluth said she had chosen him as MIT's inaugural chief innovation and strategy officer (CISO) because of his 'can-do attitude, creativity, enthusiasm, strategic insight, fluency across a wide range of subject areas, and gift for engaging industry allies and donors.' Prof. Chandrakasan succeeds Cynthia Barnhart, who announced her decision to step down from the role in February. Road ahead As MIT's chief academic officer, Prof. Chandrakasan will focus on three overarching priorities: understanding institutional needs and strategic financial planning, attracting and retaining top talent, and supporting cross-cutting research, education, and entrepreneurship programming, the MIT statement said. 'Recognising that each school and other academic units operate within a unique context, I plan to engage deeply with their leaders to understand their challenges and aspirations. This will help me refine and set the priorities for the Office of the Provost,' Prof. Chandrakasan said. Prof. Chandrakasan also plans to establish a provost faculty advisory group to hear on an ongoing basis from faculty across the five schools and the college, as well as student/postdoc advisory groups and an external provost advisory council, he said adding that his goal is to continue to facilitate excellence at MIT at all levels, it said. "We need students who can do more than just code or design or build. We really need students who understand the human perspective and human insights. This is why collaborations between STEM fields and the humanities, arts and social sciences, such as through the new MIT Human Insights Collaborative, are so important,' Prof. Chandrakasan said. Prof. Chandrakasan earned his B.S., M.S., and Ph.D in Electrical Engineering and Computer Sciences from the University of California at Berkeley. After joining the MIT faculty, he was director of the Microsystems Technology Laboratories (MTL) from 2006 until he became the head of EECS in 2011.

Defence stocks rally up to 3% amid Iran-Israel tensions, investors eye sectoral boost, geopolitics fuel long-term export optimism
Defence stocks rally up to 3% amid Iran-Israel tensions, investors eye sectoral boost, geopolitics fuel long-term export optimism

Time of India

time42 minutes ago

  • Time of India

Defence stocks rally up to 3% amid Iran-Israel tensions, investors eye sectoral boost, geopolitics fuel long-term export optimism

Defence and aerospace stocks saw renewed momentum in Tuesday's intraday trading session as intensifying geopolitical tensions in the Middle East and expectations of a higher defence allocation in the upcoming budget spurred investor interest. Leading the gains was Data Patterns (India) Ltd, which surged 3% to a day's high of Rs 3,049.50. Bharat Dynamics Ltd (BDL) followed closely with a 2.8% rise to Rs 1,940.70. BEML shares rose 2.2% to Rs 4,473.00, while Hindustan Aeronautics Ltd (HAL) climbed 1.6% to touch Rs 5,130.50, according to an ET report. The surge comes amid rising tensions between Iran and Israel, pushing investors toward sectors considered resilient during geopolitical crises. Market watchers believe the current situation may also accelerate government defence spending plans. Sankhanath Bandyopadhyay, Economist at Infomerics Valuation and Ratings, noted, 'Defence stocks look promising due to the ongoing geopolitical tussle between Iran and Israel. Moreover, the Indian government is likely to enhance defence spending from the current 2% of GDP to 3–4% over the next decade.' He added that the Centre's aim to achieve Rs 25,000 crore in defence exports by FY26 provides further support to stocks with export-oriented operations. The heightened global uncertainty has strengthened the outlook for companies catering to military and aerospace demand, analysts said. Cautioning investors, Bandyopadhyay said, 'In the current scenario, geopolitical tensions will likely be lingering between different countries, especially as being reflected in rising tensions in the Middle East. Investors should carefully assess the financials and outlook of such stocks before investing, and there should be a judicious mix so that a healthy dividend can also be earned.' The rally also reflects growing confidence in India's indigenous defence manufacturing sector, which has been prioritized under the government's Atmanirbhar Bharat initiative. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

OCP Foundation and ISAP Launch Project ACE at College of Agriculture, Kalaburagi to Support 5,000 Farmers with Sustainable Training
OCP Foundation and ISAP Launch Project ACE at College of Agriculture, Kalaburagi to Support 5,000 Farmers with Sustainable Training

Business Standard

timean hour ago

  • Business Standard

OCP Foundation and ISAP Launch Project ACE at College of Agriculture, Kalaburagi to Support 5,000 Farmers with Sustainable Training

BusinessWire India Kalaburagi (Karnataka) [India], June 17: OCP Nutricrops and OCP Foundation are reinforcing their commitment to Indian farmers with a new skilling and capacity building initiative in Karnataka, with plans to expand to Maharashtra and Rajasthan. Jointly launched by OCP Foundation and ISAP India Foundation with the support of OCP Nutricrops, Project ACE - Agri Capacity Enhancement - aims to strengthen sustainable farming practices and financial empowerment, at a time of renewed focus by Prime Minister Modi. As part of OCP Group, the world's leading producer of phosphate-based fertilizers, OCP Foundation and OCP Nutricrops are both committed to strengthening global food security through innovation, sustainable agricultural practices, and inclusive support for farming communities worldwide. Project ACE is set to benefit 5,000 farmers across all training sessions and is part of a broader initiative that promotes sustainable agriculture to enhance food and nutritional security while improving the livelihoods of small and medium-scale farmers in India. Combining field demonstrations, community development, and applied research with local universities, this overarching project supports farmer organizations, empowers rural communities, and creates conditions for scalable impact. This project aligns closely with the vision of "Viksit Bharat", which envisages India's graduation to a developed economy status by 2047 -- the 100th year of independence. It is built around a three-fold capacity-building approach: * Nutrient management: Improving crop yields and soil fertility through balanced fertilization, efficient application techniques, and awareness on sourcing quality inputs; * Water management: Promoting sustainable practices such as drip irrigation, rainwater harvesting, and soil moisture conservation; * Financial literacy: Equipping farmers with budgeting tools, access to credit and insurance, digital payments, and risk management knowledge. The launch event, held at the College of Agriculture, Kalaburagi gathered key stakeholders, including government officials, agricultural experts, Farmer Producer Organizations (FPOs), technical partners, and donors. The event underscored OCP's strong commitment in the region to promoting the adoption of sustainable agricultural practices, and marked a new chapter in its collaboration with local farming communities. In his keynote speech, Dr Shivasankar N, Director of Extension - UAS Raichur, in Kalaburagi, emphasized the importance of government support in driving innovation and knowledge-sharing in agriculture. ISAP presented a detailed overview of the program structure, training modules, methodology, and expected outcomes. FPO partners also discussed their on-ground experiences adopting modern farming practices. Ms. Hassina Moukhariq, Director of International Development, OCP Foundation, said: "OCP Foundation believes that empowering farmers with knowledge, innovation, and access to sustainable practices is the most enduring investment we can make. Project ACE is a long-term partnership with the farming community of Karnataka to build resilience, drive productivity, and ensure food security in a changing climate." M. Youssef El Bari, CEO, OCP Nutricrops, shared: "True agricultural transformation begins with the farmer, and through Project ACE, we're equipping farmers not only with knowledge but also with the tools to make more sustainable choices that support balanced fertilization, improve soil health, and build resilience. This initiative reflects our deep commitment to co-creating solutions with Indian partners for a more secure and sustainable future." Mr. Gaurav Vats, Director - Agri Services, ISAP, who in his welcome address outlined the program's objectives and long-term vision for empowering farmers through knowledge and practical training, said: "Project ACE is not just a training program--it's a roadmap for transforming rural livelihoods. By equipping farmers with practical knowledge, access to innovation, and institutional support, we aim to strengthen the agricultural value chain from the ground up." Dr. Raju Teggeli, Head and Lead Scientist at KVK Kalaburagi, an extension centre, finally emphasized the importance of training and technological innovation in modern agriculture. Through Project ACE, OCP Foundation, OCP Nutricrops, and ISAP reaffirm their commitment to supporting national efforts toward sustainable agriculture. By working hand in hand with local institutions, experts, and farming communities, the initiative seeks to contribute to improved practices, stronger resilience, and better livelihoods for farmers across India. (ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)

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