Category Archives: Business & Economy

INDIA: INNOVATION IN SPACE TECHNOLOGY: ‘Mission Rhumi 2024’: India to launch 1st reusable hybrid rocket on August 24

The rocket will be launched from Chennai using a mobile launcher and will carry “3 Cube Satellites and 50 PICO Satellites to a suborbital trajectory.”

India is set to launch its first reusable hybrid rocket – RHUMI 1 – on August 24, developed by the Tamil Nadu-based start-up Space Zone India. The rocket will be launched from Thiruvidandhai in Chennai using a mobile launcher and will carry “3 Cube Satellites and 50 PICO Satellites to a suborbital trajectory.” This launch, scheduled for 7 am on Saturday, is a collaboration between Space Zone India and the Martin Group and is designed to focus on flexibility and reusability.

According to a report by Money Control, the RHUMI series of rockets, which includes RHUMI-1, RHUMI-2, and RHUMI-3, is engineered to reach altitudes ranging from 1 km to 500 km.

This event marks the third collaboration between the Martin Group and Space Zone India. In 2023, as part of the ‘Dr. APJ Abdul Kalam Students Satellite Launch – 2023’ mission, over 2,500 students from government, tribal, and public schools across the country collaborated to design and build a student satellite launch vehicle. This mission included a payload of 150 Pico satellite research experiment cubes. In 2021, during the ‘Dr. APJ Abdul Kalam Space Research Payload Cubes Challenge 2021,’ 100 FEMTO satellites developed by 1,200 students were successfully launched.

Key features of RHUMI-1

– The rocket’s launch angle can be precisely adjusted between 0 to 120 degrees, allowing accurate trajectory control.

– A cost-effective, innovative, and eco-friendly descent mechanism uses CO2 to ensure the safe recovery of rocket components.

– The rocket’s applications extend beyond space exploration, impacting fields such as agriculture, environmental monitoring, and disaster management.

– The three cube satellites being sent will monitor atmospheric conditions, including cosmic radiation, UV radiation, and air quality, according to the Money Control report.

– Pico satellites will analyse environmental factors like vibration, accelerometer data, altitude, ozone levels, toxic content, and molecular bonding, contributing to a deeper understanding of atmospheric dynamics.

– The rocket utilises a hybrid propulsion system that combines solid fuel with liquid oxidizer technologies to ensure environmental safety.

– Space Zone India Founder and CEO Anand Megalingam highlighted that this system is reusable, offering a more sustainable and cost-effective approach to satellite launches.

source/content: hindustantimes.com (headline edited)

NATIONAL: ENERGY: FIRSTS: Bharat Petroleum unveils India’s first biofuel blend HFHSD bunker at Mumbai Port

Bharat Petroleum Corporation Ltd (BPCL) has set a new benchmark in the Indian maritime industry by launching first biofuel blend High Flash High Speed Diesel (HFHSD) bunker by an OMC at Mumbai Port. This pioneering initiative by BPCL underscores its unwavering commitment to green energy solutions and aligns with the global mandate to decarbonize the shipping sector.

As the maritime industry globally pivots towards reducing carbon emissions and mitigating environmental impact, BPCL’s introduction of the biofuel blend HFHSD bunker provides shipping companies with a cleaner, biodegradable alternative to traditional fuels. This initiative not only supports environmental sustainability but also strengthens BPCL’s position as a leader in the Indian bunkering market.

Speaking on the occasion, Sukhmal Jain, Director (Marketing), BPCL, remarked, “Today’s launch is a testament to our commitment to sustainable energy solutions. Our Project Aspire, with its focus on green energy, is driving our efforts towards a cleaner future. This biofuel blend bunker is a significant step in that direction and positions BPCL as a global bunkering leader”.

BPCL has consistently demonstrated its leadership in the Indian bunkering sector, being the first to introduce IMO 2020 compliant bunker fuel in the country. With a strong presence along the Western coast, BPCL has become a trusted supplier of marine fuels.

The company’s foray into biofuel blends is part of a broader strategy to expand its portfolio of green bunker fuels, including LNG, hydrogen, and methanol, thereby staying ahead in the evolving energy landscape.

source/content: milleniumpost.in (headline edited)

INTERNATIONAL : MIDDLE EAST: FINANCIAL : Going global: UAE merchants accept Rupee via UPI to attract Indian customers

UPI payments were launched in the UAE in the beginning of July. Apart from Lulu, payments through UPI are being accepted by many big and small merchants across the UAE.

The government of India has been promoting UPI as a global payment platform. Now merchants in the United Arab Emirates (UAE) are accepting payments via UPI in Rupees to attract Indian customers.

One of the biggest retail companies in the UAE, Lulu has started giving customers the option to accept payments through UPI in all its stores in the country.

Indian citizens can easily make payments using the UPI app just like in India. The amount paid will be deducted from their bank account in India. So Indian citizens and NRIs can easily do shopping in UAE through UPI in Rupees like in India.

UPI payments were launched in the UAE in the beginning of July. Apart from Lulu, payments through UPI are being accepted by many big and small merchants across the UAE.

Indian citizens and NRIs in the UAE can easily pay through QR codes through Point of Sale (POS) machines.

According to the NPCI: “The number of Indian travellers in the Gulf Cooperation Council (GCC) is estimated to reach 98 lakh in 2024. Around 53 lakh Indians are likely to reach UAE alone.”

The Government of India, the Reserve Bank of India (RBI), and NPCI International are working together to promote UPI on the global platform.

UPI is officially accepted in Nepal, Sri Lanka, Mauritius, UAE, Singapore, France, and Bhutan.

The Unified Payments Interface (UPI)-based transactions surged 35 per cent on a YoY (Year on Year) basis in the month of July, reaching Rs 20.64 lakh crore against Rs 20.07 lakh crore.

The total UPI transaction count went up almost 4 per cent (month-on-month) to 14.44 billion in July from 13.89 billion in the previous month.

As the UPI success story is being adopted by several countries, the average daily transaction volume stood at 466 million last month, compared with 463 million in June.

source/content: siasat.com (headline edited)

NATIONAL: CITIES TRANSPORT INFRASTRUCTURE : Number of cities with Metro rail up from 5 to 21 in last 10 years: Manohar Lal

 Metro rail services have been extended to 21 cities in the country over the last 10 years from a mere five cities in 2014, Minister of Housing and Urban Affairs Manohar Lal told journalists.

The minister said that 700 km of new metro lines were constructed in the last decade since the Narendra Modi government came to power, taking the total track length to 945 km.

In addition, the Cabinet on Friday cleared three new mass-transit proposals — Integral Ring Metro Rail Project corridor in Thane and extensions of metro networks in Pune and Bengaluru which add up to 78 km in length, and are scheduled to be operationalised in 2029. These projects will add to the country’s expanding metro network, which is already the world’s third largest next only to the USA and China.

“We are poised to soon surpass the US and become second only to China driven by the success of the Make in India initiative,” the minister said.

He further stated that the remaining two priority corridors connecting Gurugram, Manesar and Dharuhera, and Sonepat and Panipat in the north of the national capital will also be sanctioned soon.

Highlighting the acceleration in the pace of development, the minister said that before 2014, an average of only 600 metres of the metro line was being constructed every month. There has been a 10-fold increase in this figure to 6 km every month during the last 10 years, he added.

The minister said that India has developed four state-of-the-art facilities to manufacture metro coaches. These have produced over 1,000 metro coaches in the last five years, supporting various metro rail systems across the country.

He also mentioned the international foray that India was making in the construction of metro rail systems. The Delhi Metro Rail Corporation is currently implementing a metro rail system in Bangladesh and has provided consultancy services to Jakarta.

Besides, countries like Israel, Saudi Arabia, Kenya and El Salvador have also shown interest in partnering with the DMRC for their metro development projects, the minister said.

–IANS

source/content: bhaskarlive.in (headline edited)

GLOBAL & NATIONAL: AGRICULTURE & FOOD: India a food surplus country; working to provide solutions for global food security: PM Modi at the 32nd International Conference of Agricultural Economists (ICAE)

Addressing a gathering after inaugurating the 32nd International Conference of Agricultural Economists (ICAE), which is being organised in India after 65 years, the Prime Minister also said the Union Budget 2024-25 focuses on sustainable agriculture.

Noting that the last time when the conference was hosted here, India had just achieved Independence, and it was a challenging time for the country’s agriculture and food security.

“Now, India is a food surplus country,” he said, adding that the country is the number one producer of milk, pulses and spices in the world.

Also, the country has become the second-largest producer of foodgrains, fruits, vegetables, cotton, sugar and tea.

“There was a time when India’s food security was a concern for the world. Now, India is working to provide solutions for global food security and global nutritional security,” he said at the conference, attended by about 1,000 delegates from around 70 countries.

The triennial conference, organised by the International Association of Agricultural Economists, is being held from August 2 to 7.

The theme for this year’s conference is “Transformation Towards Sustainable Agri-Food Systems”.

The Prime Minister also said India has provided 1,900 new climate-resilient varieties of crops in the last 10 years.

India is promoting chemical-free natural farming, he added.

He said the country is moving towards achieving the 20 per cent ethanol blending target in petrol.

The conference will highlight India’s proactive approach to global agricultural challenges and showcase the nation’s advancements in agricultural research and policy.

The event will provide a platform for young researchers and leading professionals to present their work and network with global peers.

It aims to strengthen partnerships between research institutes and universities, influence policymaking on both national and global scales, and showcase India’s agricultural progress, including advancements in digital agriculture and sustainable agri-food systems.

Except for the headline, this story has not been edited by The Telegraph Online staff and has been published from a syndicated feed.

source/content: telegraphindia.com (headline edited)

INTERNATIONAL: PHARMACEUTICALS: Hyderabad’s Biological E. Ltd (BE) pharma company gets WHO PQ status for oral polio vaccine

This next-generation live, attenuated oral vaccine significantly reduces the risk of circulating vaccine-derived poliovirus type 2 (cVDPV2) outbreaks.

Biological E. Limited (BE), a Hyderabad-based vaccine and pharmaceutical company, on Tuesday announced that the World Health Organisation (WHO) has granted Pre-qualification (PQ) status to their Novel Oral Polio Vaccine type 2 (nOPV2).

nOPV2 is the 10th pre-qualified vaccine of BE. This next-generation live, attenuated oral vaccine significantly reduces the risk of circulating vaccine-derived poliovirus type 2 (cVDPV2) outbreaks and it is aimed at immunisation in countries that are affected by cVDPV2 outbreaks, the company said.

The persistent threat of cVDPV2 outbreaks can be tackled with the use of nOPV2 as the vaccine of choice. With its improved genetic stability, nOPV2 has a significantly decreased chance of seeding new outbreaks in low-immunity environments as against its predecessor, the Sabin poliovirus type 2 (mOPV2) vaccine, the BE said.

Extensive clinical trials have rigorously evaluated the safety and immunogenicity of nOPV2, leading to promising results published in The Lancet (2019-2024). Furthermore, the vaccine’s real-world deployment in outbreak regions has shown that it can significantly decrease the incidence of cVDPV2 outbreaks, safeguarding communities from the ravages of polio.

BE has become an important player in the production of the nOPV2 vaccine, having been selected for a grant from the Bill and Melinda Gates Foundation (BMGF) to assist in meeting the growing global demand.

In collaboration with PT BioFarma (PTB) in Indonesia, the first manufacturer of the nOPV2 vaccine to receive WHO Pre-Qualification in January 2024, BE has successfully received technology from PTB and qualified large-scale manufacturing facilities that produce more than 500 million doses of nOPV2 vaccine annually. BE has been approved by the Indian regulatory authorities to manufacture the vaccine for export purposes.

Mahima Datla, Managing Director, Biological E. Limited, said that they are pleased to be a part of the global effort to eradicate polio. “Our collective quest to eradicate polio marks a significant milestone with the WHO pre-qualification of nOPV2. This vaccine has been specifically designed to address concerns about Vaccine-Associated Paralytic Polio (VAPP), which has occurred in approximately 2 to 4 cases per million births with the traditional OPV due to the vaccine virus reverting to a virulent form,” she said.

Expressing BE’s gratitude for the collaboration with PT BioFarma (PTB) and for the support of a grant from the Gates Foundation, she further said, “The significance of this milestone extends beyond scientific achievement; it represents a beacon of hope for millions of children and families around the globe. The achievement of administering over 1 billion doses of nOPV2 in outbreak regions is crucial to realising the dream of a polio-free world.’’

source/content: siasat.com (headline edited)

INTERNATIONAL: ARTS & CRAFTS: Jammu Kashmir administration celebrates ‘World Craft City’ tag for Srinagar

The recognition would not only provide a new identity to Srinagar in the global market but craftsmanship would re-establish its position as a prestigious occupation, J&K Lieutenant Governor Manoj Sinha said.

Srinagar was the venue of a special function on July 31 to celebrate its recognition as ‘World Craft City’. Sa’ad Hani Al-Qaddumi, president of the World Crafts Council International (WCCI), present on the occasion.

Mr. Al-Qaddumi, who visited a few craft clusters after his arrival in Srinagar, praised local craftsmanship and efforts to preserve old and traditional hand techniques by locals, including women. “I congratulate the J&K government on the recognition of Srinagar as a World Craft City. Srinagar has joined the well-deserved ranks of craft cities across the world,” Mr. Al-Qaddumi said.

Hundreds of artisans and traders attended the function at the Sher-i-Kashmir International Convention Centre. “In honouring Srinagar city, the World Crafts Council has also honoured the 5,000-year rich Indian civilisation, which kept alive creative traditions and always promoted gifted artisans for their ingenuity and craftsmanship,” J&K Lieutenant Governor Manoj Sinha said.

Srinagar earned the World Craft City tag from the council, which works to empower artisans and safeguard heritage globally, in June this year. Many see the tag as a window for Kashmir to reopen its old linkages with craft centres in Central Asia and Iran.

“We are determined to ensure that their creative products are financially attractive and the work is professionally satisfying. I am sure this recognition as World Craft City will not only provide a new identity to Srinagar in the global market but that craftsmanship will re-establish its position as a prestigious occupation,” Mr. Sinha said.

Srinagar is the fourth city in India to secure the prestigious World Craft City tag. The L-G said J&K was proud to have an inclusive cultural ecosystem, which always inspired weavers and craftspeople. He commended the efforts of the Handloom and Handicrafts Department, and the Industries and Commerce Department for leading the change in a sector that is vital to J&K’s economy.

Saleem Beg, head of the Indian National Trust for Art and Cultural Heritage’s (INTACH) Kashmir chapter said the tag could open a window to trace Kashmir’s journey into the craft sector. “I expect a fillip to Kashmir’s traditional linkages with Central Asia and Iran after this recognition. Fourteen Iranian cities are already listed as craft cities, and I look forward to knowledge exchange too,” Mr. Beg said.

source/content: thehindu.com (headline edited)

NATIONAL: DEFENCE MANUFACTURING: India’s new light tank to pack a punch in mountain warfare

The tank will demonstrate its capabilities in summer and winter trials that will be conducted in deserts and mountains during the next two years before it goes into production.

In a shining moment for the local defence manufacturing sector, India on Saturday unveiled a light tank designed for rapid deployment and high mobility in the mountains and it is expected to be ready for induction into service in 2027, strengthening the army’s posture against the Chinese forces along the contested Line of Actual Control (LAC), officials aware of the matter said.

The 25-tonne tank has been jointly developed by Larsen & Toubro and the Defence Research Development Organisation (DRDO) under Project Zorawar in around two years to meet the Indian Army’s requirement for 354 light tanks. It will now head into a set of rigourous trials.

The tank was developed from scratch within the shortest possible time, said one of the officials cited above.

“It will be capable of operating in challenging conditions along LAC with minimal logistics support. The tank will demonstrate its capabilities in summer and winter trials that will be conducted in deserts and mountains during the next two years before it goes into production,” he said.

DRDO chief Samir V Kamat on Saturday reviewed the first prototype of the tank at L&T’s Hazira facility in Gujarat where it performed some basic manoeuvres.

The Chinese People’s Liberation Army has inducted and fielded several modern tanks, including light tanks with a high power-to-weight ratio, across LAC. The military standoff between India and China in eastern Ladakh is now in its fifth year, with no indication of a resolution to the lingering problems even as India is hoping that ongoing negotiations with the neighbour will help restore the status quo ante of April 2020.

The Indian Army has deployed scores of heavier Russian-origin T-72 and T-90 tanks in the Ladakh theatre, but they have their own limitations as they were designed for operations in plains and deserts. The need for light tanks with adequate firepower, protection, surveillance and communication capabilities was felt after the border row began, the officials said. The new capability will cost around ₹17,500 crore.

“The tank can be transported by air and is capable of amphibious operations. It can fire at high angles of elevation and perform the role of limited artillery,” said a second official, adding that the platform’s modular design can accommodate future upgrades.

The tank is expected to be packed with cutting-edge technologies including artificial intelligence, drone integration, active protection systems and superior situational awareness.

Not for nothing has the tank been named Zorawar. The legendary general, Zorawar Singh, led the Dogra forces a record six times, between 1834 and 1841, to victories in Ladakh and Tibet. In May 1841, he led a 5,000-strong Dogra force into Tibet and within weeks overran the Chinese forces and captured their Mantalai flag.

In December 2022, the defence acquisition council gave its acceptance of necessity (AoN) and greenlit defence projects worth ₹84,328 crore to sharpen the combat potential of the armed forces with new military hardware, including the light tanks. Under India’s defence procurement rules, AoN by the council is the first step towards buying military hardware.

In a request for information published in April 2021, the army said the light tank must have the versatility to execute operations in diverse terrain conditions and to tackle a raft of threats and equipment profile of the country’s adversaries.

In a follow up note, the army said the light tank is envisaged as a lethal and survivable platform and will have major mobility advantage in high-altitude frontiers.

“These tanks with superior mobility, all terrain agility, multi-layered protection, precision lethal firepower and real time situational awareness duly integrating niche technology will offer multiple options for rapid operational employment, enabling the army to execute operations across the entire continuum of conflict,” the note said.

The tank was unveiled a day after defence minister Rajnath Singh announced that India had recorded the highest ever growth in the value of local defence production in the financial year 2023-24 on the back of enabling policy measures, with the figure reaching almost ₹1.27 lakh crore. The figure is around 17% higher than what it was in the previous year.

Of the total value of defence production in 2023-24, 79.2% was contributed by defence public sector undertakings and other PSUs, and the remaining 20.8% by the private sector.

source/content: hindustantimes.com (headline edited)

INDIA: MANUFACTURING: 80% of Indian Steel Producers have Labelled ‘Made-in-India’ on products

The source said that the ‘Made in India’ branding, along with a QR code, provides for labeling of domestic steel products with details of the product. “

Following the Ministry of Steel’s initiative to brand products with ‘Made in India’, Indian steel producers (ISPs) have labelled 80 per cent of their products since November last year, said an official on Monday.

“Ministry of Steel was the first to initiate and complete the branding exercise. The efforts would result in branding of 80 million tonnes of steel out of the production of 125 million tonnes in the first phase,” the official added.

Indian steel producers have finalised common labels across the product categories and allocated size and space for the ‘Made in India’ logo for each label.

“All the ISPs have started roll out of branding with selected categories of steel products in their product portfolio by fixing of new ‘Made in India’ label on their products from November 4, 2023 onwards,” the source said, adding RINL, JSPL and TATA Steel Ltd have covered 100 per cent of their product range, while the rest will complete the branding by the end of June.

Explaining the need of the branding, the source said, “the label will help to create a common brand value for all Made-in-India steel products nationally and internationally and to further encourage manufacturers to maximise their local manufacturing process, thereby giving a much-needed boost to the Indian economy.

In the long run, it will be a key identifier for Indian steel sector markets across the world, further cementing India’s position in global markets. The Made in India Label along with the overall country branding through the Brand India Mission will complement each other and help in achieving the final goal of ‘Atmanirbhar Bharat’ making for India and the world.”

According to sources, the concept was initially suggested by Prime Minister Narendra Modi , which was later conceptualised by the Department for Promotion of Industry and Internal Trade (DPIIT) and implemented by the Steel Ministry.

The source said that the ‘Made in India’ branding, along with a QR code, provides for labeling of domestic steel products with details of the product. “The vision is to boost credibility of ‘Made in India’ and promotion of domestically-produced steel and to enable the Indian consumers to make an informed choice. ‘Made in India’ Label is intended for both domestic market and also for exports,” the source said.

source/content: indianexpress.com (headline edited)

INTERNATIONAL: SPACE : Indian-Origin Shawna Pandya on Virgin Galactic’s New Space Research Flight

Shawna Pandya, an Indian-origin physician and bioastronautics researcher, will be part of Virgin Galactic’s upcoming space research mission. This mission, a collaboration between Richard Branson’s Virgin Galactic and the International Institute for Astronautical Sciences (IIAS), will be conducted aboard the Delta Class spaceship.

Pandya, a prominent figure in space medicine and Director of IIAS’ Space Medicine Group, joins a distinguished crew for this second research mission. The team includes Kellie Gerardi, Director of Human Spaceflight Operations at IIAS, and Norah Patten, an aeronautical engineer from Ireland. The mission follows the success of the ‘Galactic 05’ mission in November 2023, which tested novel healthcare technologies and analyzed fluid dynamics in microgravity to aid the design of future medical technologies and life-support systems.

Pandya, who has extensive experience in space research, was part of the first crew to test a commercial spacesuit in zero gravity in 2015. Her impressive record includes flying in 10 parabolic flight campaigns, amassing over 160 parabolas in micro- and reduced gravity conditions.

“We were thrilled with the results from our fluid cell experiment on ‘Galactic 05’, which demonstrated our ability to accurately predict fluid behavior in a weightless environment”, said Gerardi, reflecting on the mission’s success.

Sirisha Bandla, Virgin Galactic’s Vice President of Government Affairs and Research, emphasized the ongoing collaboration with IIAS. “We’re excited to continue our partnership with IIAS in an expanded capacity”, said Bandla, who flew on the ‘Unity 22’ spaceflight, becoming the second Indian-born woman to travel to space.

This mission highlights the growing role of Indian-origin researchers in advancing space science and technology, further solidifying international collaborations in space exploration.

source/content: siliconindia.com (headline edited)