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India Gazette
27-05-2025
- Business
- India Gazette
Niti Aayog suggests revenue-based financing and emergency credit lines for Medium Enterprises
ANI 27 May 2025, 16:45 GMT+10 New Delhi [India] May 27 (ANI): The policy think-tank of the government, NITI Aayog, suggested mechanisms such as revenue-based financing and the establishment of emergency credit lines to ensure working capital support for medium enterprises. A recent report prepared by the Administrative Staff College of India (ASCI) for Niti Aayog highlights the need to explore mechanisms such as revenue-based financing and the establishment of emergency credit lines to ensure these businesses have the necessary liquidity for operations and expansion. Adding to that, it said, 'A credit card with a pre-approved limit of up to `5 crore ' may be introduced.'The Government of India has established initiatives such as the Self-Reliant India (SRI)91 Fund to bridge this gap, but there is currently no dedicated scheme for addressing the working capital needs of medium enterprises, highlighted the Aayog's report also noted the need to recognise the evolving technological landscape, and strongly recommends structured support for technology integration and the adoption of Industry 4.0 practices. This includes facilitating the integration of medium enterprises into global supply chains through technological report appreciates, Government of India's initiative to establish 20 new Technology Centres (TCs) and 100 Extension Centres (ECs) under the scheme 'Establishment of New Technology Centres Extension Centres' marks a significant stride towards empowering the MSME sector and skill seekers across the nation.'To enhance innovation and long-term competitiveness, the report advocates for strengthening the Research and Development (R&D) and innovation ecosystem specifically for medium enterprises. This could involve the creation of dedicated funding and governance frameworks to promote R&D activities within this the report reflects the importance of enhancing support for cluster-based testing and quality certification. Establishing sector-specific testing facilities and aiding medium enterprises in obtaining necessary certifications are seen as crucial steps to improve product quality and facilitate wider market need for customised skill development programs tailored to the specific requirements of medium enterprises and aligned with technological advancements is also underscored. Recommendations include skill mapping initiatives and the expansion of existing skill development schemes to cater to this the report proposes the creation of a centralised digital portal to serve as a comprehensive resource for medium enterprises, improving their awareness and accessibility to various government schemes and initiatives. (ANI)
Indian Express
26-05-2025
- Business
- Indian Express
NITI Aayog proposes concessional loan scheme for medium-sized firms
A new report by NITI Aayog has proposed a concessional loan scheme for India's medium-sized enterprises, arguing that these firms face higher capital costs than both large and small companies. The report titled 'Designing a Policy for Medium Enterprises' released Monday also called for streamlining research and development (R&D) efforts and expanding cluster-based quality testing to help medium firms scale and become more export-competitive. The latest push to support medium-sized firms with cheaper credit comes after the definition of 'medium' was broadened in the Union Budget 2025. Until April 1, medium enterprises were defined as those with a turnover between Rs 50–250 crore and investment of Rs 10–50 crore in plant and machinery. The revised thresholds—Rs 100–500 crore in turnover and Rs 25–125 crore in investment—have expanded the category to cover more firms. 'Medium Enterprises receive much lesser priority sector loans, compared to micro enterprises. Additionally, the interest rates for Medium Enterprises are on average 4% higher than for larger firms, making capital more expensive,' the report said. It proposed a dedicated financing scheme under the Ministry of Micro, Small, and Medium Enterprises (MSME) to allow medium firms to avail loans at concessional rates, capped at Rs 25 crore, with a maximum of Rs 5 crore per request. The report also suggested launching a medium enterprise credit card with a pre-approved limit of up to Rs 5 crore at interest rates aligned with market rates. From over 6 crore registered MSMEs in India, medium enterprises are only 0.3 per cent, the report said. However, average employment per entity is significantly higher amongst medium firms at 89 people, compared to 19 for small and 6 for micro. Medium firms also account for 81 per cent of all MSME investment in R&D. To boost R&D, the report recommended reserving 25-30 per cent of the Self-Reliant India (SRI) Fund for exclusively financing projects by medium firms. The SRI Fund has an allocated of Rs 10,000 crore from the Centre and Rs 40,000 crore from private equity. Since its launch in 2021, a total of Rs 4,885 crore has been invested in MSMEs. 'Adopt EU type funding mechanism in which the government after due process will identify a set of major R&D gaps and invite proposal from the Medium Enterprises to bridge those gaps,' it also said. On quality testing, the report noted key challenges faced by medium enterprises. 'Limited access to affordable, sector-specific testing facilities forces them to rely on distant or private testing centres, increasing operational costs, certification delays, and barriers to global market entry,' it said. It recommended extending the Micro & Small Enterprises Cluster Development Programme (MSE-CDP)—which, among other benefits, provides access to shared testing infrastructure—to medium enterprises as well. At the report launch, NITI Aayog's Vice Chairperson Suman Bery said focussing on skilling and medium enterprises together is crucial. 'On the labour market side, we need to make the transition from informal employment, which is typically associated with micro and small enterprises, to formal employment, associated with the medium enterprise sector. It is with formal employment that firms get an incentive to invest in the training of their workforce,' Berry said. The report by India's apex public policy think tank noted that the availability of skilled labour in India stands at 55 per cent, compared to 88 per cent in South Korea, 85 per cent in the United States, and 81 per cent in Japan. The report recommended real-time skill mapping via the MSME Sampark Portal, expanding skill development schemes like the Entrepreneurship and Skill Development Programme (ESDP), and introducing subsidized, customized training programmes aligned with technology trends. Aggam Walia is a Correspondent at The Indian Express, reporting on power, renewables, and mining. His work unpacks intricate ties between corporations, government, and policy, often relying on documents sourced via the RTI Act. Off the beat, he enjoys running through Delhi's parks and forests, walking to places, and cooking pasta. ... Read More
India.com
19-05-2025
- Business
- India.com
Gautam Adani to make India stronger, ‘made in india' anti-submarine warfare will be deployed in…, signs big deal with…
Gautam Adani- File image To strengthen India's maritime security, Adani Defence & Aerospace announced a partnership with the American company Sparton on May 18. Sparton, a group company of Elbit Systems, will now assist Adani in assembling Anti-Submarine Warfare (ASW) systems in India. Under this partnership, Sonobuoys and other anti-submarine warfare systems will be manufactured in India. This initiative is taken under Aatmanirbhar Bharat (Self-Reliant India) and Make in India schemes. For the first time, a private Indian company will provide the Navy a domestically-produced Sonobuoy solutions. The partnership aims to localise the assemblage of sonobuoys and other ASW systems in India under the 'Aatmanirbhar Bharat' initiative. Sonobuoys are mission-critical platforms for enhancing Undersea Domain Awareness (UDA), providing an effective means to detect, locate, and track submarines and other underwater threats. Playing a key role in anti-submarine warfare (ASW) and other naval operations, they support in maintaining naval security and protecting carrier strike groups. Sparton manufactures electronic sensor systems, navigation systems, and undersea warfare delivery systems. 'For decades, India has been importing this critical naval capability from global markets, increasing our dependence on foreign OEMs. Aligned with the 'Aatmanirbhar Bharat' and 'Make in India' initiative, Sparton's ongoing relationship with the Indian Navy will now facilitate Adani Defence to indigenise the delivery of these solutions that are made in India, for India,' the statement said. Jeet Adani, Vice President of Adani Enterprises, remarked, 'In an increasingly volatile maritime environment, strengthening India's undersea warfare capabilities is not merely a strategic priority but an imperative for safeguarding sovereignty and national interests. The Indian Navy requires integrated, mission-ready ISR and anti-submarine warfare capabilities, including critical systems like sonobuoys, that are indigenously developed, swiftly deployable, and globally competitive. 'Through this partnership with Sparton, Adani Defence & Aerospace becomes the first private company in India to offer indigenised sonobuoy solutions, enabling access to advanced technologies while fostering a future-ready, self-reliant defence ecosystem. This initiative reflects our Group's vision of empowering India's armed forces with world-class capabilities that are designed, developed, and delivered in India, for India and the world.' Adani Defence is a unit of Mumbai-listed Adani Enterprises Ltd. Ashish Rajvanshi, CEO, Adani Defence & Aerospace, said: 'For decades, India has been dependent on imports for such critical technology. This partnership to bring world-class sonobuoy technology and integrate it with India's defence ecosystem is a step towards building self-reliant capabilities in this critical domain'. Donnelly Bohan, President and CEO, Sparton DeLeon Springs LLC, added, 'Sparton has a long legacy for problem solving, advanced engineering and manufacturing of America's best maritime defence solutions. We are proud to partner with Adani Defence & Aerospace to bring our proven anti-submarine warfare (ASW) technologies to India. This partnership will enable us to localise assemblage, create high-technology skill sets, and deliver reliable ASW solutions tailored to the India Navy's needs'. (With Inputs From PTI)
Time of India
14-05-2025
- Business
- Time of India
UPSC Chairman Ajay Kumar and his educational qualification: How an IITian with a US doctorate rose to redefine civil service leadership
In the quiet theatre of governance, where power rarely raises its voice but always leaves a mark, a new chapter has opened. Dr Ajay Kumar, the man who once helmed India's defence bureaucracy with calibrated precision, now steps into the role of Chairman of the Union Public Service Commission—an institution that crafts the future custodians of the Republic. The announcement, made on May 13, 2025, by the Department of Personnel and Training, comes with the quiet gravity such transitions deserve. Preeti Sudan exits, and Kumar—engineer, economist, strategist—enters. An alumnus of IIT Kanpur , with a PhD from the University of Minnesota, and a distinguished innings in the Kerala cadre of the IAS, Kumar has never been one to merely occupy a post; he transforms it. As Defence Secretary, he didn't just manage files—he moved tectonic plates. From laying the foundation for the Chief of Defence Staff to anchoring the Atmanirbhar Bharat defence narrative, Kumar's tenure rewrote the lexicon of military modernisation. His appointment to UPSC isn't just an administrative shuffle—it's a message that merit must meet vision. That the next generation of civil servants will be shaped under the watch of a man who understands both the weight of service and the value of reform. Kerala cadre to KELTRON: Early Years of governance innovation Born on October 2, 1962, Ajay Kumar's journey from the classrooms of IIT Kanpur to the corridors of policy power reads like a blueprint for the modern technocrat. A BTech in Electrical Engineering from India's premier institute was only the beginning. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trending in in 2025: Local network access control [Click Here] Esseps Learn More Undo He soon added academic heft with a Master's in Applied Economics and a PhD in Business Administration from the University of Minnesota—credentials that would come to define his multidisciplinary approach to governance. Kumar entered the Indian Administrative Service in 1985, assigned to the Kerala cadre, where he quickly built a reputation for marrying technology with public service. As Principal Secretary for Information Technology, he steered Kerala's early digital initiatives, later heading KELTRON as Managing Director. At a time when most states were still grappling with basic infrastructure, Kumar was already scripting Kerala's tech leap, leveraging his engineering precision and economic acumen to modernize public systems. From defence corridors to digital India: The reformer in action Ajay Kumar's tenure as Defence Secretary from 2019 to 2022 is perhaps the most defining chapter of his career. As the longest-serving Defence Secretary, he spearheaded transformative reforms that reshaped India's defence sector. Under his leadership, landmark initiatives like the creation of the Chief of Defence Staff (CDS), the Atmanirbhar Bharat (Self-Reliant India) initiative, and the Agniveer scheme were implemented, fortifying India's defence capabilities. In addition to his defence reforms, Kumar played a crucial role in advancing India's digital ecosystem. As the Secretary of the Ministry of Electronics and Information Technology (MeitY), he was a key player in the implementation of the Digital India Programme . His work in promoting initiatives such as the Unified Payments Interface (UPI), Aadhaar, MyGov, and the Government e-Marketplace (GeM) fundamentally transformed India's digital infrastructure, making it more accessible, transparent, and efficient. Kumar's innovative approach extended to the defence industry's ecosystem, where he led the corporatization of the Ordnance Factories Board, a 200-year-old institution that employed over 80,000 workers. He also established the Innovations for Defence Excellence (iDEX) programme, fostering a startup ecosystem within India's defense sector, and worked towards enhancing the performance of Defence Public Sector Undertakings (PSUs). Dr. Ajay Kumar beyond office: Act II of the strategist Even after his retirement, Ajay Kumar continued to influence key sectors through his entrepreneurial ventures and advisory roles. He founded MGF-Kavachh , a venture capital fund dedicated to supporting startups in aerospace and deep tech, raising ₹250 crore for critical technology innovations. Kumar's expertise also extended to the US-India Strategic Partnership Forum (USISPF), where he served as an advisor, and to Sify, where he was a Director on the Board. Kumar is also a distinguished academic and writer. He is a visiting professor at IIT Kanpur and holds a non-resident Senior Fellow position at Carnegie India. His insightful commentary on national and international affairs is published regularly in leading Indian dailies, where he shares his deep understanding of governance, technology, and strategic policy. A legacy of service and vision Ajay Kumar's career trajectory is not just one of personal achievement but also of visionary leadership that has impacted India's defence, technology, and administrative sectors. His vast experience, spanning both government and private sectors, coupled with his academic credentials, has positioned him as a unique leader capable of shaping the future of civil services in India. As he takes on the mantle of UPSC Chairman, his legacy of transformative governance and national service will undoubtedly influence the Commission's future trajectory. Ajay Kumar's story is a powerful reminder of the profound impact that dedicated public servants can have on a nation's development—whether through technological advancements, defense reforms, or the cultivation of future leaders. His journey serves as an inspiration for aspiring civil servants and citizens alike, proving that true leadership is grounded in service, innovation, and a relentless drive for national progress. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Times of Oman
01-05-2025
- Science
- Times of Oman
Indian scientists aim for world's smallest 'angstrom-scale' chips using 2D materials
New Delhi: In a visionary stride toward global technology leadership, Indian scientists have unveiled an ambitious proposal to develop the world's smallest semiconductor chip. Spearheaded by the prestigious Indian Institute of Science (IISc), this initiative seeks to leverage cutting-edge 2D materials like graphene to create "angstrom-scale" chips—ushering in an era that could eclipse current silicon-based technologies. The proposal, recently submitted to the Indian government, outlines a roadmap that demands an investment of Rs 500 crore (approximately $60 million) over five years. If approved, this project could not only place India firmly on the global semiconductor map but could also redefine the technological landscape for generations to come. New frontier in semiconductor innovation Semiconductors are the lifeblood of modern technology, powering everything from smartphones and medical devices to electric vehicles and satellites. For decades, the industry has relentlessly pursued miniaturisation, packing more power into ever-smaller spaces. Yet, as traditional silicon-based technologies approach their physical limits, the world is yearning for a breakthrough. This is where India's angstrom-scale chip project steps in. Angstroms, measuring just one-tenth of a nanometer, represent a scale so minute that it ventures into atomic territory. Creating chips at this level requires materials that are thinner, stronger, and more conductive than silicon—enter graphene and other 2D materials. Graphene, a single layer of carbon atoms arranged in a two-dimensional honeycomb lattice, boasts extraordinary electrical, mechanical, and thermal properties. Scientists worldwide have hailed it as a "wonder material," but India's plan to industrialise its use at the angstrom scale marks a historic first. By moving beyond the conventional, India is daring to innovate at the very edge of physics itself. Powering India's tech aspirations This proposal signals far more than just technological ambition. It aligns seamlessly with India's broader vision of self-reliance in critical technologies, epitomised by initiatives like "Make in India" and "Atmanirbhar Bharat" (Self-Reliant India). Semiconductors are a strategic industry. Countries that control chip technologies also influence the future of defence systems, artificial intelligence, quantum computing, and next-generation communication networks like 6G. By building indigenous capabilities in this sector, India can ensure not just economic growth but also national security and technological sovereignty. Moreover, mastering angstrom-scale chip technology would place India among an elite few, giving it a seat at the table of global tech leadership alongside the United States, South Korea, Japan, and Taiwan. Building a strong ecosystem The proposed $60 million investment is not just for lab research; it is designed to catalyse an entire ecosystem around next-generation semiconductors. The funds would enable the establishment of specialised fabrication facilities, advanced material research centres, and skilled manpower development programs. Partnerships with premier institutions, industry players, and international collaborators will be crucial. By integrating academia and industry, India can create a dynamic innovation ecosystem where breakthroughs in the lab translate quickly into commercial products. It is also heartening to see such a project being led by the Indian Institute of Science, an institution with a legacy of pathbreaking research. With its world-class talent, cutting-edge infrastructure, and collaborative ethos, IISc is ideally positioned to steer this transformational endeavour. Catalysing new industries If successful, angstrom-scale chips could ignite a cascade of new industries and possibilities. Chips at the angstrom scale could power computers hundreds of times faster than today's models, transforming everything from research to entertainment. Ultra-miniaturised chips could enable revolutionary biomedical devices, diagnostics, and treatments at the cellular level. Energy-efficient chips would dramatically lower the carbon footprint of data centres, consumer electronics, and electric vehicles. Moreover, lightweight, high-performance chips could enhance satellite systems, defence equipment, and space exploration technologies. By positioning itself at the forefront of this technological revolution, India could create millions of new jobs, attract billions in investments, and open unprecedented opportunities for startups and established companies alike. Inspiring a new generation of innovators Beyond its economic and strategic implications, this initiative carries immense inspirational value. It sends a powerful message to young scientists, engineers, and entrepreneurs across the country: India is no longer just a participant in the global tech race—it is leading the way. The vision of building angstrom-scale chips challenges young minds to dream bigger, think deeper, and innovate bolder. It reaffirms that Indian talent can shape the future of technology, not just follow it. Educational institutions, innovation hubs, and research labs across the country are likely to feel the ripple effects. Already, programs in materials science, quantum electronics, and nanoengineering are gaining traction, and this project will further accelerate that momentum. A moment of national pride The proposal by Indian scientists to venture into the angstrom era is a clarion call for the nation to rally behind its innovators. It is a vivid reminder of what is possible when vision, talent, and determination converge with opportunity. As the world stands on the cusp of the next great technological leap, India is ready to make its mark. The angstrom chip project embodies the spirit of a new India—ambitious, confident, and future-ready. The $60 million investment, when viewed in the context of the immense potential it unlocks, is not just an expenditure—it is an investment in India's destiny as a global technology powerhouse. In the years to come, when the world speaks of breakthroughs that redefined human progress, India's angstrom-scale chip project could well be a defining chapter as it represents a future where Indian ingenuity lights the way for the world.
