Latest news with #Nagpur
Entrepreneur
29-05-2025
- Business
- Entrepreneur
Nitin Gadkari Unveils Road Safety Innovations at Utkarsh India's 'YATRA KAVACH'
Addressing the gathering, Gadkari unveiled several forward-looking initiatives, most notably the introduction of revolutionary 130-seater electric buses currently under trial in Nagpur. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Nitin Gadkari, Hon'ble Minister of Road Transport and Highways, graced the 'YATRA KAVACH' event in Delhi, a significant initiative by Utkarsh India Ltd aimed at promoting road safety through innovation and technological advancement. The event witnessed the participation of key policymakers, industry leaders, infrastructure experts, and stakeholders, who came together to deliberate on the future of road safety in India. Addressing the gathering, Gadkari unveiled several forward-looking initiatives, most notably the introduction of revolutionary 130-seater electric buses currently under trial in Nagpur. "These buses will transform public transport by making travel faster, greener, and more comfortable. Once rolled out nationally, they will help decongest roads and encourage public commuting," he stated. The minister also stressed on standardising crash barrier specifications and the government's focus on sustainability, mentioning the use of alternative materials like bamboo. "Standardised, cost-effective crash barriers made with innovative materials can save lives. We're committed to world-class infrastructure that supports India's growing economy," Gadkari added. Highlighting the importance of waste management and technology, he pointed out that toll booths are gradually being replaced by automated camera systems that calculate and deduct toll charges directly from commuters' bank accounts based on entry and exit points. He also cited the introduction of e-rickshaws as a landmark initiative that has not only reduced manual exploitation but also created employment opportunities, especially in rural areas. Sunil Bansal, Chairman and Managing Director of Utkarsh India Ltd, emphasised the importance of intelligent infrastructure in reducing accidents. "Our goal is to save lives through smarter, safer roads. YATRA KAVACH is a step towards building safer transportation ecosystems," he said. Utkarsh Bansal, Executive Director, reaffirmed the company's commitment to nation-building through high-end engineering and manufacturing. "With YATRA KAVACH, we hope to lead the way in global-standard road infrastructure," he remarked. The event also featured an engaging panel discussion on innovation in road safety. Eminent speakers included Dr Sudhir R Hoshing of IRB Infrastructure, Ajay Sabharwal, former GM at NHAI, Sunil Kumar Nirmal from the Ministry of Road Transport and Highways, and Suresh Kumar from REC Kurukshetra. Utkarsh India Ltd, a market leader in crash barriers and infrastructure solutions, showcased its innovative approach to safety systems. Their use of cutting-edge technology and commitment to sustainable practices underscore their role in shaping the future of India's infrastructure.
Coin Geek
23-05-2025
- Coin Geek
India rolls out biometric e-passports in major overhaul
Getting your Trinity Audio player ready... India, the world's fastest-growing major economy, has taken a significant step in its digital tra nsformation journey with the modernization of international travel by launching chip-enabled biometric e-passports. India joins several other nations, such as the United States, Canada, France, and Japan, in deploying this advanced technology. This transition is part of a broader digital overhaul aimed at bolstering border security, curbing identity theft, and expediting immigration processes for citizens. With this initiative, India aligns itself with the standards of the International Civil Aviation Organization (ICAO), bringing its passport technology in line with global best practices. This move facilitates smoother travel for citizens and strengthens India's reputation as a forward-looking, technologically capable nation. India's e-passport is a modern travel document that integrates physical and electronic features. It includes a Radio Frequency Identification (RFID) chip and an embedded antenna within the passport's cover, which securely stores the holder's personal details and biometric data. This advanced passport can be recognized by a small gold-colored symbol printed on the lower portion of the front cover, indicating the presence of the electronic chip. The initiative began in April 2024 as part of the revamped Passport Seva Programme 2.0. Initial testing reportedly took place in a select group of cities, including Nagpur, Bhubaneswar, Jammu, Panaji, Shimla, Raipur, Amritsar, Jaipur, Chennai, Hyderabad, Surat, and Ranchi. A full-scale national deployment is expected to be completed by mid-2025. Each e-passport features an embedded Radio Frequency Identification (RFID) chip and an antenna integrated into the back cover. The chip securely stores the holder's personal and biometric details, such as a digital facial image, fingerprints, name, birthdate, and passport number. This information is safeguarded by global encryption protocols like Basic Access Control (BAC), Passive Authentication (PA), and Extended Access Control (EAC), ensuring robust data protection. These smart passports are compatible with automated border control systems, commonly known as e-gates, which enable contactless identity verification. This advancement significantly reduces processing time at immigration checkpoints by replacing manual document checks with fast, automated procedures. Applying for a biometric passport is straightforward. Citizens can initiate the process through the Passport Seva Portal, book an appointment at a Passport Seva Kendra or designated Post Office, and complete biometric data collection in person. All biometric passports are manufactured domestically at the India Security Press in Nashik, ensuring stringent data privacy while supporting the government's Make in India mission and safeguarding national interests. India's introduction of biometric e-passports marks a crucial phase in its digital travel journey. Future developments are expected to include mobile-based passport wallets, integration with Aadhaar and DigiLocker systems, blockchain-backed identity verification, and even visa data embedded directly into passport chips. This move signals a shift toward a more intelligent, paperless, and contact-free travel ecosystem. By embracing this digital innovation, India enhances its border management capabilities and paves the way for a smarter, more seamless travel experience for its citizens in the coming years. According to the recent World Tourism Barometer released by the United Nations Tourism, approximately 1.4 billion people engaged in international travel during 2024, signaling a near-complete rebound to pre-COVID levels—reaching 99% of figures recorded before the pandemic. This marks an 11% growth compared to 2023, translating to about 140 million additional international tourist arrivals. The surge was fueled by strong post-pandemic travel demand, solid performance from major outbound markets, and the continued revival of tourism across destinations in Asia-Pacific. This global resurgence of international travel has prompted many countries to adopt biometric solutions to manage increasing traveler volumes securely. Traditional machine-readable passports are more susceptible to fraud and unauthorized alterations. In contrast, biometric passports offer heightened security and authenticity, significantly reducing the risk of forgery and identity misuse. Existing passports to remain valid All passports currently issued by the government will remain valid until their designated expiry dates. There is no requirement for citizens to replace existing passports prematurely. As individual passport offices become equipped with the necessary technology to issue e-passports, applicants submitting requests through those offices will begin receiving the new electronic version. The nationwide rollout of e-passports is being implemented in stages and is expected to take several months to reach all passport offices nationwide. One of the most significant advantages of the e-passport lies in its ability to better protect and validate the passport holder's personal information. Each e-passport will store the holder's details in printed form on the passport booklet and digitally within an embedded chip. This chip contains cryptographically signed data that can be verified by immigration authorities worldwide, providing strong protection against document tampering, counterfeiting, and misuse. It also enables rapid and accurate authentication at border checkpoints. The core technology enabling this secure framework is Public Key Infrastructure (PKI), which is critical in verifying the authenticity and integrity of the data stored on the chip. PKI ensures that personal and biometric information remains secure and originates from a legitimate source, offering an added layer of trust in global travel documentation. Watch: Here's how digital vouchers will boost Japan tourism title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Entrepreneur
17-05-2025
- Business
- Entrepreneur
Tax Turmoil: Why India's Crypto Rules Are Pushing Investors Offshore
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. If cryptocurrency were a guest at India's economic dinner table, it would no longer crash the party—it would now be seated, monitored, and asked to show its ID. With the 2025 Budget, India continued to forge a path for streamlined rules and regulations, along with a local dress code for exchanges in the USD 6.4 billion—and growing—digital asset sector. The global crypto m-cap, as per coin market cap, currently stands at approx. USD3.33 trillion. As of 2021, India topped the world in crypto ownership, with over 10.7 crore individuals invested in digital assets. IMARC Group's data suggests that the domestic market could grow to over USD 13.9 billion in 2033 from USD 2.6 billion in 2024. The sector is finding takers across segments and every corner of the country—much like Nagpur-based Ashish Nagose, who believes this asset class could offer a financial cushion for his family-owned flower shop during a slump. India's stance on crypto is evolving—having varied views from the new Finance Secretary Ajay Seth, former RBI Governor Shaktikanta Das, and Finance Minister Nirmala Sitharaman. The current crypto tax framework includes a 30 per cent tax on gains from virtual digital assets (VDAs), a one per cent TDS (tax deducted at source), along no ability to offset losses against other income. These measures have catapulted domestic investors to opt for overseas exchanges such as Binance, KuCoin, Coinbase, Bitget, and Delta Exchange. Flocking To Foreign Exchanges The one per cent TDS saw the migration of three to five million users to offshore platforms in 2023, according to Esya Centre, a Delhi-based tech policy think tank. Trades might prefer offshore exchanges for various reasons, including lower taxes, favourable regulations, or a wider range of available cryptocurrencies. "While the entry process (in India) is more streamlined than in many other countries, global platforms must first clear any pending dues and comply with existing financial obligations," shares Alankar Saxena, co-founder and CTO, Mudrex. Binance and KuCoin re-entered India after paying fines, while Coinbase secured FIU approval for a 2025 relaunch. Recently, Binance came under fire for potential tax evasion as the Income Tax (IT) department sought details on whether the mandatory TDS was being collected or not. Investors have been asked to either provide TDS proof or give justification for failing to do so. Offshore Vs Domestic Players The majority of Indian users on offshore platforms tend to escape TDS, this is either done on purpose or ignorance. Meanwhile, Indian platforms such as Mudrex or CoinSwitch take responsibility for deducting and sending the TDS amount to the government, keeping users at ease. In December 2024, the Indian government uncovered Goods and Services Tax (GST) evasion amounting to INR 824.14 crore across 17 cryptocurrency exchanges. Among them, Nest Services Ltd — linked to the Binance Group — stood out with a staggering alleged GST evasion of INR 722.43 crore. India's crypto regulation remains functional but fragmented. While it addresses certain aspects—such as taxing profits and applying GST or TDS—it lacks a comprehensive regulatory framework that mandates registration, licensing, or full compliance for all crypto platforms, particularly those based overseas. "Without a clear-cut process for registration and tax collection, they are likely to be marked as noncompliant, and their users are also at risk of facing legal penalties," shares Avinash Shekhar, cofounder and CEO, Pi42. The TDS crackdown on Binance and others has been a wake-up call for investors. There has been a notable shift of retail cryptocurrency investors in India moving from offshore exchanges to domestic platforms. "If you're trading in India, using a homegrown platform just makes things easier—faster customer support, better alignment with local rules, and fewer compliance hassles overall. It's like choosing a service that speaks your language—literally and legally," shares Balaji Srihari, vice president, CoinSwitch. "Ultimately, building user trust is essential, and local exchanges are well-positioned to serve investor interests within the regulatory framework," echoes Saxena. Ignorance Is Bliss? Since 2022, industry players have voiced their hopes for a tax revision in pre-budget expectations but in vain. Shekhar feels that the update has not taken place due to the government "viewing it as a way to track and monitor cryptocurrency transactions rather than as a revenue categorising their transactions as "unexplained cash credit" as per the new Income Tax Act amendments and seeking a surged tax of 60-70 per cent. Koinx's founder clarified in one case that this happened due to the lack of buyer information like the PAN card on the user's end. Often, investors use different usernames on crypto exchanges and bank accounts, leading to mismatches that make it difficult to verify transactions. Among crypto transactions, in P2P transactions, the buyer is responsible for deducting TDS and remitting it to the government. It is advised that Indian crypto traders should maintain a detailed record of generating tool." Srihari notes that the conversation on TDS reduction is far from static, "These things often take time, especially when balancing innovation with regulation in a dynamic space like crypto." How does the inability to offset crypto losses against gains distort market participation? Srihari explains, "In the stock market if you make a loss, you can set it off against future gains, which helps reduce your tax burden. But with crypto, you're taxed on the gains, but can't offset the losses—which can discourage participation, especially from serious investors or traders. It feels more like a one-sided deal and adds risk without cushion." The Fine Print The I-T department earlier sent notice to P2P (Peer to Peer) traders on platforms such as Koinx and TaxNodes, categorising their transactions as "unexplained cash credit" as per the new Income Tax Act amendments and seeking a surged tax of 60-70 per cent. Koinx's founder clarified in one case that this happened due to the lack of buyer information like the PAN card on the user's end. Often, investors use different usernames on crypto exchanges and bank accounts, leading to mismatches that make it difficult to verify transactions. Among crypto transactions, in P2P transactions, the buyer is responsible for deducting TDS and remitting it to the government. It is advised that Indian crypto traders should maintain a detailed record of all the crypto transactions, including the KYC details of the counterparties to protect themselves from hefty penalties in the future. Way Ahead India is now reviewing its stance on crypto due to shifting attitudes towards virtual assets in other countries, primarily propelled by US President Donald Trump's crypto-friendly policy announcements. "If regulations keep getting tighter without encouragement for innovation, India can expect to lose even more talent and capital," says Shekhar. Saxena feels the government should establish sandboxes for blockchain startups to test decentralized applications (dApps), DAOs, and tokenized assets without immediate tax or regulatory burdens.
Fashion Value Chain
09-05-2025
- Entertainment
- Fashion Value Chain
Post-Press Note: NIFT Mumbai Craft Bazar 2025 and Spectrum 2025 Annual Fest Celebration
NIFT organized the Craft Bazar on 6th and 7th March 2025 to celebrate India's rich traditional crafts. Artisans set up stalls showcasing and selling products in Block Printing, Batik, Santhal Painting, Crochet, Nagpur Textiles, Kolhapuri Chappal, Chitrakathi Painting, Paithani, and Maheshwari textiles. The participating artisans included Mr. Maruti Bamne, Mr. Kundan Satpute, Ms. Meenu Aanand, Ms. Siya S. Vaigankar, Ms. Klasy D' Souza, Mr. Sachin Potdar, Ms. Smita Manivannan Chakravarthi, Mr. Pritam Sataynarayan Pandhurnekar, Ms. Vijaya Pawar, Mr. Sagar Vijay Kherud, and Mr. Vrajkumar Vinaykumar Makwana. The Craft Bazar was open to visitors, including students, faculty, and craft enthusiasts. They explored exquisite craftsmanship and supported artisan-led businesses. The Artisan Awareness Workshop was also held on 5th and 6th March 2025 to help artisans improve their skills and market knowledge. The sessions covered important topics such as Craft Policies and Market Skills, Origami Packaging, Product Diversification, Ergonomics, and Mobile Photography with Social Media Presence. These sessions helped artisans learn new ways to expand their craft and increase Craft Demonstration segment featured live demonstrations by handicraft and handloom artisans. Alongside this, NIFT Mumbai celebrated the annual Fest Spectrum'25 on 7th & 8th March 2025 with full inthusization. The event was inaugurated by Chief Guest Mr Harsh Gupta founder of harsh harsh label, Guest of Honour Mrs Archana Pardhaan Tehesildaar Revenue & Forest and Mr Sizil Srivastava founder of lifafa studios. This year, Spectrum revolves around the theme 'ILLUSIA,'. Illusia, a euphoria of colors, a blend of textures and an abundance of imagination to bring a surrealist world blurring the horizon between fantasy and reality. The darker undertones suggests the unconscious mind and how often creativity blooms in a garden of darkness. Bizarre and vivid, illusia delves into a mirrored world of textures, mixing and matching as far as the eyes can see & a lot more beyond. Illusia, the power of imagination, an amalgamation of the mind, heart & soul only working to make the impossible possible. This event provided a vibrant platform for students to express themselves creatively. Various Sports, Literary, Film & Photography, and Cultural Events have been organized to cater to diverse interests and talents. Additionally, students participated in workshops and showcased their creative work for sale in the shops of Meena Bazar. The Craft Bazar, Artisan Awareness Workshop, and Spectrum'25 at NIFT Mumbai created a vibrant platform to witness India rich cultural heritage and creativy. NIFT remains committed to preserving and promoting India's craft traditions through such initiatives, fostering innovation and sustainability in the artisan community. NIFT cultural Fest Spectrum'25 offered a space for students to express themselves creatively through various art forms, performances, and competitions. The spectrum theme 'ILLUSIA' inspired participants to explore surrealist concepts, blending imagination with artistic expression.
The Independent
13-02-2025
- Sport
- The Independent
Kevin Pietersen ‘gobsmacked' by England's lack of training during India series as Jos Buttler defends side
Kevin Pietersen has claimed that England 'didn't try' during their ODI series defeat to India, accusing Jos Buttler 's side of not holding a single training session during a disastrous trip. A 3-0 clean sweep in the 50-over format followed a 4-1 T20I series defeat for the tourists, who were hoping to tune up ahead of the Champions Trophy, which begins in Pakistan next week. A miserable trip on the pitch was compounded by mounting injury problems, with opener Ben Duckett the latest to sustain an issue in the third ODI. The left-hander suffered a groin injury and is a doubt for the upcoming tournament. England have struggled significantly against spin since arriving in India, but according to former batter Pietersen, they have not necessarily sought to solve their issues in the nets. The 44-year-old has been working as a commentator during the series and claimed that only Joe Root had netted during a disastrous series, with no team session held. 'I'm sorry, but I am absolutely gobsmacked that England did not have ONE team practice session since losing the 1st ODI and losing the T20 series,' Pietersen said on X, formerly Twitter. 'How can this be? Seriously, how? 'I believe Joe Root was the only player to have a net this series, post Nagpur. There isn't a single sportsman on this planet who can honestly say, that they'd improve without practicing whilst they're getting beaten. There also cannot be one player in that England side that can sit on the plane leaving India and saying to themselves, they did everything they can to try help England win. And for that, I'm am actually incredibly sad this evening. 'Losing is fine if you're giving your best to improve everyday and if England didn't train during this series then they didn't try. Heartbreaking for any England fan!' A combined 7-1 margin across formats represented a disappointing start to life under Brendon McCullum, who is now England coach across both the red-ball and white-ball games. The Test team have taken a more relaxed approach to training since McCullum's arrival in 2022, while time on the golf course has been a regular feature, as it is for many international cricket teams. Captain Buttler defended his side's preparation and suggested that they had trained regularly during a series that featured eight games across 22 days. 'That's not quite true,' Buttler said of Pietersen's comments after the final ODI defeat in Ahmedabad. 'I think we've had a reasonably long tour, a few long travel days, there have been a couple of times we've not trained but we've certainly done plenty of training throughout the tour. 'We obviously try to create a really good environment, but don't mistake that for a lazy environment or a lack of effort. The guys are desperate to perform, do well and improve.' England begin their Champions Trophy campaign against Australia on Saturday 22 February in Lahore.
