Tag: India

This Nobel-Winning Idea Has Failed India

(Bloomberg Opinion) — Economists like to think of themselves as mathematicians — or, if feeling momentarily humbler, as physicists. This year’s winners of the Nobel Prize in economics, however, seem to conceive of themselves more as engineers. Like Alvin Roth and Lloyd Shapley, who won the prize in 2012, Paul Milgrom and Robert B. Wilson are specialists in “market design,” a field which, as Roth wrote in a famous paper, calls for “an engineering approach.”


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Roth argued that market designers should take bridge-builders as their exemplars: “Engineering is often less elegant than the simple underlying physics, but it allows bridges designed on the same basic model to be built longer and stronger over time, as the complexities and how to deal with them become better understood.”

The bridge that Milgrom and Wilson built was the 1994 auction of telecommunications spectrum by the Federal Communications Commission, later called “the

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Big Idea Ventures, Ashika Group, GFI India team up to launch alternative protein fund and accelerator

Giving a boost to the growing alternative protein sector, global investor Big Idea Ventures (BIV), Kolkata-based financial services firm Ashika Group, and non-profit Good Food Institute India (GFI India) have joined hands to launch India Alternative Protein Fund and Accelerator.

According to the official statement, the BIV-Ashika India Alternative Protein Fund will launch an accelerator in 2021, which will support startups involved in innovative plant-based, fermentation-derived, and cultivated protein industries, with investments and mentorship to help them grow across the Indian and international market.

The alternative protein or ‘smart protein’ sector is soaring globally, with rapidly growing global consumption and billions of dollars in investments in companies such as plant-based meat and egg pioneers Beyond Meat and Eat Just, Inc. GFI India has undertaken research which underscores Indian consumers are primed to eat these foods in line with their global counterparts, particularly as the COVID-19 pandemic brings

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India declines proposal to test Sputnik-V COVID-19 vaccine in large study

Oct 7 (Reuters) – India’s drug regulator has knocked back a proposal from Dr Reddy’s Laboratories Ltd to conduct a large study in the country to evaluate Russia’s Sputnik-V COVID-19 vaccine and has asked it to first test the vaccine in a smaller trial.

The recommendations here by an expert panel of the Central Drugs Standard Control Organisation (CDSCO) noted that safety and immunogenicity data from early-stage studies being conducted overseas is small, with no inputs available on Indian participants.

India’s move comes as a setback for Russia’s plan to roll-out the vaccine even before full trials show how well it works, while pushing back its efforts to win approval for the vaccine in the country that leads the world on average number of new infections.

India is expected to overtake the United States over the next several weeks as the country with the world’s largest number of cases.


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Amazon India Will Enable Over 1 Lakh Local Shops And Kiranas To Sell Online This Festive Season

The e-commerce giant will achieve this through its focused initiatives Amazon Easy, I Have Space (IHS), and Amazon Pay Smart Stores

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Amazon India will enable over one lakh local shops and neighboring kiranas across the country to sell on its platform in the upcoming Great Indian Festival sale, slated to begin on 17 October.

The e-commerce giant will achieve this through its focused initiatives Amazon Easy, I Have Space (IHS), and Amazon Pay Smart Stores.

“More than 20,000 offline retailers, kiranas and local shops from ‘Local Shops on Amazon’ program will be participating in their first ‘Great Indian Festival’ and will be catering to customers in their cities and across India, selling

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India Picks Central Bank Rate Panel After Unexplained Delay

(Bloomberg) — India’s government appointed three new external members to the central bank’s committee that decides interest rates, allowing policy meetings to resume after last week’s delay.


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The Finance Ministry on Monday announced the following names to the six-member Monetary Policy Committee of the Reserve Bank of India:

Ashima Goyal, a professor at the Mumbai-based Indira Gandhi Institute of Developmental ResearchJayanth R Varma, a professor of finance at the Indian Institute of Management in AhmedabadShashanka Bhide, an agricultural economist and a senior adviser with the National Council of Applied Economic Research in New Delhi

The new appointees will replace the three previous external MPC candidates whose terms expired with the last policy meeting in August. They’ll join three RBI officials on the committee, led by Governor Shaktikanta Das.

The government’s delay in selecting the new members meant the RBI didn’t have enough policy makers for its scheduled three-day

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Extend date for submission of business plan, demands FICO : The Tribune India

Tribune News Service

Ludhiana, October 4

Gurmeet Singh Kular and Manjinder Singh Sachdeva, president and senior vice-president of the Federation of Industrial and Commercial Organisation (FICO), have demanded extension of date for submission of business plan, construction and commencement of business from Punjab Chief Minister Capt Amarinder Singh.

FICO office-bearers said the Covid-19 crisis and the subsequent lockdowns had made it difficult for all their units to keep sustainable and most of the production was hit during these months.

They said, “The industry is not in a position to do any construction or expansion because businesses are badly hit. Also, the industry will need time to get back to normal and reassess the business strategy. The industry has been struggling for the past couple of years due to slump in the market and economic recession. Even factory owners are infected with Covid-19, they are not going to factories and many

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No longer business-as-usual, action plan must to revive tourism : The Tribune India

Take precautions, ease travel restrictions & sensitise travellers to soften the Covid blow, feel residents

Rebuild tourism in phased manner

September 27 is observed as the World Tourism Day. But this year, it was celebrated under Covid shadow. The WHO experts claim that the virus is going to be with us till 2022 or even longer. There is no doubt that the tourism industry is one of the first casualties of this pandemic. But other industries such as automobile and cinemas have also been hit badly. As a result, so many people suffered and lost their jobs and earnings. To revive the tourism in the state, some special steps have to be taken. First of all people and pilgrims must be asked to get Covid-19 negative certificate from the relevant authorities. Face masks must be worn properly. Hand sanitisation should also be observed. In buses and trains social, rather physical,

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Cinema Halls Set To Reopen From October 15 In India, Theatre-Owners Hope Normal Business By April 2021

The Indian government announced late on Wednesday that cinema halls and theaters will be allowed to reopen starting October 15. The reopening of halls comes as a relief to thousands of people working in these sectors as the businesses had been shut for past six months, in wake of the ongoing pandemic. The industry has welcomed the decision but theater owners are aware that it may take months for the business to reach a point of no-loss.

General Manager of Delite Cinemas (a single-screen theater in the national capital of Delhi) Raj Kumar Mehrotra says the cinemas halls will have to open with films like Mulan as no new movie has been slated to theatrical release in October., “It

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India- IIFT offers free EXIM business management webinars

(MENAFN – KNN India) IIFT offers free EXIM business management webinars

New Delhi, Sept 30 (KNN) Aiming to create capacity building for new exporters and importers in the country, a webinar series is initiated by Indian Institute of Foreign Trade on Exim business management.

The series is organized under prestigious niryat bandhu scheme which was implemented by the Office of Director General of Foreign Trade.

Indian Institute of Foreign Trade, New Delhi has already hosted an exclusive Web Portal for Basic Program in Export-Import Management. There are 20 recorded sessions along with Sector-Specific sessions on this Web Portal.

Further to augment the capacity building of Niryat Bandhu participants for Exim skills, a Live Webinar Series of 25 Lectures has been planned. At the end of the Webinar Series, 26th session will be a live discussion with a panel of experts.

The first live session is scheduled on 26th September, 2020

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Three top Apple suppliers to commit $900 mln to India smartphone incentive plan – sources

By Sankalp Phartiyal

NEW DELHI, Sept 28 (Reuters)Three of Apple Inc’s AAPL.O top contract manufacturers plan to invest a total of almost $900 million in India in the next five years to tap into a new production-linked incentive plan, according to two sources familiar with the matter.

Foxconn 2317.TW, Wistron 3231.TW and Pegatron 4938.TW all plan to make investments under the scheme, said the sources, who asked not to be named as the discussions are private.

India’s new $6.65 billion production-linked incentive (PLI) scheme offers companies cash incentives on any increase in sales of locally-made smartphones over the next five years, compared with 2019-20 levels. The scheme aims to help transform India into an export manufacturing hub.

Foxconn has applied to invest about 40 billion rupees ($542 million), while Wistron and Pegatron have committed to invest close to 13 billion rupees and 12 billion rupees, respectively,

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