Latest news with #NetZero2070
Entrepreneur
30-05-2025
- Business
- Entrepreneur
Powering Progress: Jitendra Singh Charts India's Green Future
Recounting the country's journey from being a cautious participant to a climate frontrunner, Dr Singh credited initiatives such as Mission LiFE, the International Solar Alliance, and the Net Zero 2070 goal. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In a landmark address, Union Minister of State (Independent Charge) for Science and Technology, Dr Jitendra Singh, outlined an ambitious roadmap for India's clean energy future. Emphasising innovation and sustainability, Dr Singh asserted that a robust battery ecosystem and low carbon technologies are pivotal for India's ascent from the recently achieved 4th largest economy to the 3rd position globally, while also aligning with the nation's Net Zero 2070 commitment. The remarks came during Battery Summit 2025, held under the theme "Addressing Challenges, Driving Innovation and Scaling Solutions," where key stakeholders from government, industry, and academia convened to chart India's clean energy transition. Dr Singh underscored the critical need to harness unexplored resources and push the boundaries of technological advancement. "Innovation in low carbon sectors and exploration of untapped reserves will not only drive economic value but also significantly reduce our carbon footprint," said Dr Singh. A key highlight of the summit was the launch of the Battery Aadhaar Initiative under the Department of Science and Technology (DST). Described by Dr Singh as a "game changer", Battery Aadhaar aims to digitally tag every battery pack with a unique identity, enhancing traceability, safety, lifecycle management, and recycling efficiency. "Battery Aadhaar will facilitate predictive maintenance, curb counterfeiting, and ensure end-to-end battery traceability. It's a cornerstone for India's emerging battery intelligence ecosystem," he declared. The initiative integrates seamlessly with Battery Management Systems (BMS), AI-powered diagnostics, and national EV databases, enabling real-time monitoring of thermal events, charge cycles, and overall performance—paving the way for a resilient and circular battery economy. Dr Singh also spotlighted the recent discovery of Lithium reserves in Jammu & Kashmir, which he termed as a "strategic resource" for India's clean energy ambitions. He called for intensified efforts to harness such natural assets in line with Net Zero targets. "These reserves will play a vital role in reducing our dependency on imports and accelerating the transition to electric mobility," he noted. Highlighting progress in clean tech, the Minister praised government-backed programs like the PLI Scheme for Advanced Chemistry Cells, PM-eDrive, and FAME, as well as the MAHA-EV Mission under the Anusandhan National Research Foundation (ANRF). Recounting the country's journey from being a cautious participant to a climate frontrunner, Dr Singh credited initiatives such as Mission LiFE, the International Solar Alliance, and the Net Zero 2070 goal. In terms of innovation, Dr Singh shared that India has moved from 81st to 39th in the Global Innovation Index, and now boasts over 1.7 lakh startups, making it the third-largest startup ecosystem worldwide. The DST's budget saw a 926% increase, a testament to the government's focus on science and technology. The Minister stressed the importance of private participation, citing that 60% of NRF funding will come from the private sector. Strategic missions like the National Quantum Mission, AI Mission, and National Supercomputing Mission were highlighted as future growth engines. "Our focus must be on indigenising technology, boosting domestic manufacturing, and creating a collaborative innovation ecosystem," Dr Singh urged. The summit witnessed participation from leading figures including Prof Abhay Karandikar (DST), Asher Lessels (UNEP), Dr Anita Gupta (DST), and Madhav Pai (WRI India), reinforcing a shared commitment to a sustainable and innovation-driven future. Dr Singh also lauded WRI India and its Battery360 Alliance, as well as support from UNEP, NITI Aayog, and the Global Environment Facility (GEF), emphasising that such collaborations are vital to ensuring India's leadership in clean energy transformation.
New Indian Express
29-05-2025
- Business
- New Indian Express
India must bridge trust gap to escape middle-income trap: Chief Economic Advisor
NEW DELHI: Chief Economic Advisor V. Ananth Nageswaran delivered a stark warning to India's industry leaders today, identifying a critical "trust deficit" and unsustainable economic imbalances as key threats to the nation's ambition of becoming a developed economy by 2047. Speaking at the CII Annual Business Summit, Chief Economic Advisor (CEA) outlined a three-pronged strategy – "Trust, Deregulate, and Reciprocate" – as the essential formula to avoid the middle-income trap. The CEA sees three major challenges to India's development goals. The Mismatched Inheritance: India, he argued, is saddled with a capital-intensive development model born from the Western Industrial Revolution – a historical "accident" driven by labor scarcity after the Black Death. This model is fundamentally "alien" to India's core strength as a labor-abundant nation, creating an inherent handicap. The Energy-Transition Tightrope: Achieving 'Viksit Bharat 2047' before 'Net Zero 2070' requires navigating a complex energy transition. The inherited model relied on cheap, abundant power, but the shift to renewables brings high costs (doubling investment for backup power, grid upgrades like China's $800 billion plan) and strategic vulnerabilities due to dependence on critical minerals from "strategically difficult" sources. The Profit-Job Imbalance: Nageswaran highlighted a concerning trend: corporate profitability has surged significantly faster than both capital formation (investment) and worker compensation. While acknowledging past reasons (balance sheet repair, global sluggishness), he declared this imbalance unsustainable for a nation needing to create 8 million non-farm jobs annually. "This is something we cannot afford for the next 25 or 30 years," he stated bluntly. The distribution of gains from AI/robotics between capital and labour will be crucial for future income growth and savings.
Entrepreneur
15-05-2025
- Business
- Entrepreneur
Kriscore Capital Announces First Close of INR 100 Cr Debut Fund
The fund plans to back 16–18 tech-driven startups at pre-seed and seed stages, focusing on exceptional founders innovating across India's digital consumer boom, China+1, GenAI, global exports, and Net Zero 2070 themes. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Kriscore Capital, a newly launched venture firm focused on early-stage Indian tech startups, has announced the first close of its debut fund—INR 100 crore with an additional INR 100 crore greenshoe option. The fund, titled Kriscore Capital I, is registered under SEBI as a Category II AIF and has secured initial commitments of INR 50 crore from a curated group of family offices and high net worth individuals. Founded by Nilesh Balakrishnan and K Bala, Kriscore Capital aims to back 16–18 breakout companies solving large-scale problems using technology across sectors. The fund's thesis spans key macro trends in India, such as the digital consumer boom, China+1 manufacturing opportunities, globalisation of India's premium offerings, GenAI-powered services, and the nation's Net Zero 2070 goals. "India's startup ecosystem is exploding, and Indian founders are building generational global businesses," said Nilesh Balakrishnan, General Partner, Kriscore Capital. "We invest more than capital – we commit our time, expertise, and passion to help founders build something truly groundbreaking." Balakrishnan brings over 12 years of investing and operating experience across the US, Japan, and India, including a successful tenure at WaterBridge Ventures, where he led several high-return investments. His co-founder, K Bala, is a stalwart of the Indian investment banking landscape, having led Lazard India and HSBC's investment banking vertical. Bala also founded Kriscore Financial Advisors, and has been an active startup investor and mentor for over a decade. Kriscore Capital's sector-agnostic fund will focus on pre-seed and seed rounds, offering not just capital, but also guidance on critical but often overlooked aspects like compliance, financial planning, and global expansion strategy. To support its mission, Kriscore has built a distinguished Advisory Board, featuring D Sundaram (Lead Independent Director, Infosys Ltd), Shyam Srinivasan (ex-MD & CEO, Federal Bank), and Manish Khetarpal (Founding Partner, WaterBridge Ventures). The firm has already made its first investment in a stealth-mode startup, signaling strong early momentum. With a global perspective and deep local expertise, Kriscore Capital is poised to play a pivotal role in shaping the next wave of India's tech disruptors.
