Latest news with #EconomicAdvisoryCouncil
Mint
5 days ago
- Business
- Mint
Economist S. Mahendra Dev appointed EAC-PM chairman
Economist S. Mahendra Dev has been appointed the new chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), a person informed about the development said. Dev, till Thursday an independent director with Axis Bank, will take charge of the position on Friday, said the person, who spoke on condition of not being named. Earlier in the day, Axis Bank informed stock exchanges that Dev had resigned from its board owing to his appointment as chairman of the EAC-PM, which is a full-time position. EAC-PM did not have a full-time chairman since last November, when its first chairman Bibek Debroy passed away. NITI Aayog vice chairman Suman Bery has been holding the additional charge of EAC-PM since then. The new appointment comes at a time the Narendra Modi government is busy dealing with the tariff war triggered by the US administration and its global macroeconomic implications, while also striving to step up and sustain economic growth rate in order to realize the government's goal of making India a developed country by 2047. Besides advising the Prime Minister on economic and related issues, EAC-PM analyses key issues requiring the attention of policy makers at the highest level. Business Standard reported on Thursday that Dev's appointment is for a period of two years, and that new part-time members of the council include Soumya Kanti Ghosh, K.V. Raju, Chetan Ghate, Pami Dua, Pulak Ghosh and Gourav Vallabh. Mint could not independently verify this. Dev had previously served on several government panels and in the working groups for ninth, tenth and eleventh Five Year Plans. He had also served as the chairman of the Commission for Agricultural Costs and Prices. He received his Ph.D. from the Delhi School of Economics and did his post-doctoral research at the Yale University.
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Business Standard
5 days ago
- Business
- Business Standard
Maharashtra to become $1 trillion economy by 2030, says CM Fadnavis
Maharashtra Chief Minister Devendra Fadnavis on Wednesday said his government has charted out a multidimensional roadmap for the state's progress and it will become a $1 trillion economy by 2030. "Maharashtra is firmly on the path to becoming a trillion-dollar economy by 2030," Fadnavis said while addressing the "India Investment Forum 2025" here. At the meet, the CM presented a comprehensive overview of Maharashtra's economic, industrial, social, and environmental strides. He highlighted that the state's economy has already crossed the half-trillion-dollar mark. An Economic Advisory Council (EAC), headed by Tata Sons chairman N Chandrasekaran, in collaboration with 20 senior CEOs, has developed a robust roadmap covering infrastructure, industries, services, agriculture, and fintech sectors in Maharashtra, the CM noted. He announced that the "Viksit Maharashtra 2047" blueprint will be unveiled on October 2, featuring short-term, mid-term, and long-term goals. The Chief Minister emphasized that Maharashtra's industrial power is no longer confined to Mumbai and Pune. Areas like Chhatrapati Sambhajinagar, Gadchiroli, Nashik, and Raigad are emerging rapidly through EV hubs, steel cities, and integrated industrial townships, making the entire state an industrial powerhouse, he maintained. Massive infrastructure investment worth $100 billion is underway, including in Vadhavan Port, Nagpur-Goa expressway, new airports, Mumbai Metro and coastal road projects, Fadnavis stated. "These will transform Maharashtra's transport and trade logistics," he insisted. Mumbai is witnessing swift urban renewal with the Dharavi Redevelopment Project aimed at rehabilitating 8 lakh citizens. The government is also introducing a unified mobility solution through a single transport card and integrated mobile app, the CM pointed out. Coastal areas are being cleaned through advanced sewage treatment systems, he noted. Fadnavis said Maharashtra remains the top state in attracting foreign direct investment, accounting for 40 per cent of India's total FDI. He credited this success to an integrated digital single-window system, expansion of MIDC industrial parks and establishment of a Cabinet Committee on Investment. "The state is intensifying efforts in water security, technology, and power supply for farmers. By 2026, the government plans to provide free daytime solar electricity, enhancing agricultural productivity and income," he told the forum. Maharashtra has drafted a comprehensive five-year tourism development plan. Under the plan, the state will focus on local community involvement, conservation zones, and infrastructure, Fadnavis said.
Time of India
6 days ago
- Business
- Time of India
India at AI inflection point: Global experts back nation's rise as deep tech leader
NEW DELHI: India is uniquely positioned to become a global leader in artificial intelligence (AI) and deep tech, thanks to the vast volumes of digital data being generated domestically, said Claude Smadja, former Managing Director of the World Economic Forum (WEF). Tired of too many ads? go ad free now Speaking at the India Global Innovation Connect (IGIC) 2025 in Bengaluru, Smadja emphasized India's data advantage and its strategic position in the global tech landscape. 'India today stands at a pivotal inflection point—both in its domestic transformation and its global positioning. As we enter an era defined by AI and deep tech, the time is ripe for India to fast-track innovation. Amid challenges faced by major global economies, India has the right momentum and resources to emerge as a global hub for technological breakthroughs, particularly in data and big data,' he said. Sanjeev Sanyal, member of the Economic Advisory Council to the Prime Minister, emphasized that structural reforms alone are not enough to achieve the aspirations of Viksit Bharat . 'We need to go deeper and embrace process reforms. They are essential for improving efficiency, reducing system-level friction, and delivering measurable impact across both government and business operations,' he noted. Adding to the discussion, Mohandas Pai, Chairman of Aarin Capital, highlighted the need to rethink education models to prepare for a quantum-driven future. 'Governments must urgently reconsider how we educate the next generation, especially as quantum computing and AI begin to handle tasks traditionally performed by humans,' Pai said. Vic Bhagat, Senior Vice President and Global Advisor at IT infrastructure services giant Kyndryl, pointed to the transformative potential of AI in enterprise technology. 'AI's power lies in its seamless integration with enterprise systems. The synergy between scale and speed will be the new competitive edge. Enterprises that harness AI effectively will unlock new levels of productivity and long-term growth,' he said.
India Gazette
27-05-2025
- Politics
- India Gazette
President Murmu presents Padma Awards to recipients at second Civil Investiture Ceremony
New Delhi [India], May 27 (ANI): President Droupadi Murmu on Tuesday presented Padma Awards to the recipients across a diverse range of disciplines and fields at the second Civil Investiture Ceremony at Rashtrapati Bhawan here. Prime Minister Narendra Modi, Vice-President Jagdeep Dhankar, Union Ministers Amit Shah, S Jaishankar, Pralhad Joshi, Jitendra Singh, G Kishan Reddy and several other ministers and dignitaries were present on the occasion. During the ceremony, President Murmu presented India's second-highest civilian award, Padma Vibhushan, to Justice (Retd.) Jagdish Singh Khehar, the former Chief Justice of India, for his contribution to the field of Public Affairs. Sharda Sinha, the legendary folk singer, famous for her folk, devotional and Chhath songs, has been awarded the Padma Vibhushan posthumously for her contribution to the field of arts- folk music. In the event, her son Anshuman Sinha received the award on her behalf. During the ceremony, Dr Shobana Chandrakumar also received the Padma Bhushan from President Droupadi Murmu, for her contribution to the field of arts- folk dance. President Murmu presented the Padma Vibhushan posthumously to Kumudini Rajnikant Lakhia for her contribution to the field of arts. Her grandson received the award on her behalf. Sadhvi Ritambhara also received the Padma Bhushan for her contribution to the field of social work. Bibek Debroy, an economist who served as the Chairman of the Economic Advisory Council to the Prime Minister, has been awarded the Padma Bhushan posthumously for his contribution to the field of Literature and Education. His wife received the award on his behalf. Padma Awards - one of the highest civilian Awards of the country, are conferred in three categories, namely, Padma Vibhushan, Padma Bhushan and Padma Shri. The Awards are given in various disciplines/ fields of activities -- art, social work, public affairs, science and engineering, trade and industry, medicine, literature and education, sports, civil service, etc.' Padma Vibhushan is awarded for exceptional and distinguished service; Padma Bhushan for distinguished service of high order and Padma Shri for distinguished service in any field. The awards are announced on the occasion of Republic Day every year. These awards are conferred by the President of India at ceremonial functions which are held at Rashtrapati Bhavan every year. For the year 2025, the President has approved conferment of 139 Padma Awards, including duo case (in a duo case, the Award is counted as one). The list comprises 7 Padma Vibhushan, 19 Padma Bhushan and 113 Padma Shri Awards. 23 of the awardees are women and the list also includes 10 persons from the category of Foreigners/NRI/PIO/OCI, and 13 Posthumous awardees. (ANI)
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First Post
22-05-2025
- General
- First Post
INSV Kaundinya: Indian Navy's ‘stitched ship' inspired by 5th century Ajanta painting
The Indian Navy on Wednesday inducted INSV Kaundinya, a stitched sail ship based on a fifth-century ship showcased in a painting in the Ajanta Caves. Built using traditional stitching techniques, the vessel is named after an ancient Indian mariner whose love story led to the birth of a kingdom read more The Indian Navy has inducted a 'stitched sail ship', named Indian Naval Sailing Vessel (INSV) Kaundinya, at a ceremony held at the Naval Base in Karnataka's Karwar. The vessel is modelled on a 5th-century ship showcased in a painting in the Ajanta Caves. The ship is set for a historic transoceanic voyage, traversing the ancient trade route from Gujarat to Oman, according to the Indian Navy. The vessel, with a 15-member crew of the Indian Navy on board, will embark on the journey later this year. STORY CONTINUES BELOW THIS AD Here's everything to know about the stitched ship. Features of INSV Kaundinya INSV Kaundinya, the stitched ship, boasts square sails and steering oars, which are 'entirely alien to modern-day ships', as per the Indian Navy. These oars control the steering of the ship, which is reportedly equipped with a main mast, mizzen mast and bowsprit mast. INSV Kaundinya is adorned with culturally significant features. 'Her [the ship's] sails display motifs of the Gandabherunda and the Sun, her bow bears a sculpted Simha Yali, and a symbolic Harappan style stone anchor adorns her deck, each element evoking the rich maritime traditions of ancient India,' the Ministry of Defence said in a statement. The vessel was built using traditional stitching techniques by a team of skilled artisans from Kerala, led by master shipwright Babu Sankaran. 'Over several months, the team painstakingly stitched wooden planks on the ship's hull using coir rope, coconut fibre and natural resin,' the ministry's statement read. Sanjeev Sanyal, a member of the Prime Minister's Economic Advisory Council, told Indian Express that the ship has 'trailing oars, square sails and a flexible hull. It does not have rudders. In modern sailing, usually, triangular sails are used. There are some advantages, but many disadvantages, because you have to basically sail with the wind. So, it is important to recognise that when we attempt to sail it, we will have to relearn the art of sailing with square sails.' The project, which is aimed at exhibiting India's maritime heritage, is being implemented through a tripartite agreement between the Indian Navy, the Ministry of Culture and Goa-based shipbuilding company Hodi Innovations (OPC) Private Ltd. The Indian Navy monitored the ship's design, technical validation, and construction process. 'With no surviving blueprints of such vessels, the design had to be inferred from iconographic sources. The Navy collaborated with the shipbuilder to recreate the hull form and traditional rigging, and ensured that the design was validated through hydrodynamic model testing at the Department of Ocean Engineering, IIT Madras, and internal technical assessment,' the defence ministry said in the statement. STORY CONTINUES BELOW THIS AD INSV Kaundinya's keel laying happened in September 2023, and it was launched in February in Goa. The formal induction of INSV Kaundinya into the Indian Navy is historical and significant for India's maritime heritage. 'This is not just the launch of a vessel—it is the launch of heritage. A symbolic act that echoes across centuries, marking the resurgence of India's maritime legacy and reaffirming our deep and enduring ties with the Indian Ocean world,' Union Minister of Culture Gajendra Singh Shekhawat, who was the chief guest at the induction ceremony on Wednesday (May 21), wrote on X. A historic moment for Bharat and our civilisational pride. Presided over the induction ceremony of the Ancient Stitched Ship INSV Kaundinya at Karwar Naval Base today—an extraordinary recreation of a 5th-century vessel, inspired by Ajanta murals and handcrafted by Kerala's… — Gajendra Singh Shekhawat (@gssjodhpur) May 21, 2025 STORY CONTINUES BELOW THIS AD How INSV Kaundinya got its name INSV Kaundinya is named after a legendary Indian mariner who sailed across the Indian Ocean to Southeast Asia. More than 2000 years ago, the Indian merchant Kaundinya reached the Mekong Delta (southern Vietnam ), along with a crew of Indians, during his sailing venture. The Indian merchant vessel on which they were aboard was attacked by pirates, who were defeated by Kaundinya. However, the vessel was damaged and had to be beached for repairs, as per an Indian Express report. A local clan, led by warrior queen Soma, encircled the Indian crew, who were outnumbered. Legend has it that a confrontation ensued between them. However, the conflict did not last long as Soma, belonging to the Naga clan, fell in love with Kaundinya and proposed marriage. The couple later went on to establish the royal dynasty of Funan. Kaundinya and Soma established the Funan dynasty. Wikimedia Commons Speaking to Indian Express, Sanyal said, 'Kaundinya and Soma set up a dynasty that went on to form the first Indianised Kingdom in what is now Cambodia/South Vietnam. This is corroborated by Chinese sources. All the future dynasties of the Khmer and Chams of Vietnam… to this day… trace their lineage to this marriage.' STORY CONTINUES BELOW THIS AD With inputs from agencies
