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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102601) | |
22491. Apple supplier Pegatron board okays initial $150 million investment in India: Report
- The board of Pegatron, Apple’s second largest contract manufacturer, has approved an initial investment of $150 million (Rs 1100 crore) for building manufacturing facilities in India
- Pegatron’s factory in India is expected to start production in the second half of next year or in early 2022 and the company plans to make more investments in India over the next two years,
- As for Pegatron, it must individually produce handsets worth Rs 4000 crore in its first year which begins in March 2021 under the PLI scheme.
22492. [Funding alert] CRED nears billion-dollar valuation after $80M fundraise
- Mismatch Credit card bill payment app CRED has raised $80 million in a Series C funding round led by DST Global, along with Ribbit Capital, Sequoia Capital, and Tiger Global, giving it a valuation of $800 million.
- The post-fundraise valuation — which is $200 million short of the coveted billion-dollar unicorn valuation — is almost twice as much as the Kunal Shah-led startup had been valued at ($450 million) after its Series B fundraise last year.
- CRED is Kunal's second venture after Freecharge — a coupon-powered mobile recharge app, which Snapdeal bought for $450 million in 2015.
22493. Amazon eyes potential $100 mln investment in India's Apollo Pharmacy – ET
- Amazon.com Inc is considering a nearly $100 million investment in India's pharmacy chain Apollo Pharmacy, facing up to Reliance Industries Ltd and Tata Group in the country's fast-growing drug market, the Economic Times reported
- Amazon already delivers medicines in India and the potential investment would come amid rising competition from Mukesh Ambani’s Reliance, which bought a majority stake in online pharmacy Netmeds.
- The growth of e-pharmacies, however, has left many Indian trader groups feeling threatened, who say online drugstores can contribute to medicine sales without proper verification and the entry of large players can cause unemployment in the sector.
22494. Budget 2022: Atmanirbhar Bharat in Defence! Govt announces sops for the domestic defence companies
- For FY 2022-23, the government has set aside 68 percent of the Defence Capital procurement budget for the country’s domestic industry. This is up from the 58 percent in the last fiscal.
- a new Nodal Body has been set up for Testing and Certification requirements of the defence systems and platforms. This Nodal Body will help the domestic players in the defence sector, as the processes will be cleared faster.
- Also the government has set aside 25 percent in the budget for defence research and development (R&D); start-ups and academia. This is expected to give a further boost to the private industry.
22495. Budget 2022: How Government Wants to Help Farmers With Drones
- Finance Minister Nirmala Sitharaman kickstarted her Budget 2022 speech by stressing on the importance of drones in the farming sector and as well as how drones could help boost startups in India. Betting on the agriculture sector, drones could be used for assessment and fertilisation, according to the government.
- Kisan Drones is said to be entrusted in deployment of drone technology in the sector, which also includes providing special monetary benefits that allows purchase or hire of drones for such purposes.
- The primary objectives of bringing drones into the sector is to reduce manpower, increase the efficiency of crop protection with chemicals, reduce the amount of water used for farming, and prevent humans from getting exposed to harmful pesticides.
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22496. IISc Bangalore's Swarnajayanti awardee is researching on materials to make computers more efficient
- A Swarnajayanti fellowship 2020-2021 from the Indian Institute of Science(IISc) Bangalore, Mayank Shrivastava is working on applications of upcoming materials that can help computers imitate those functions that the brain can perform in a very short duration.
- It can assist computers in performing cognitive processes, such as recognising people in a crowd, distinguishing smells, and learning and making judgments.
- The research group plans to work on novel devices which can emulate brain-like behaviour. This will ultimately aid in developing a few-atom thick neuromorphic circuit capable of several complex problems which a brain can easily solve, but are difficult for a conventional computer to solve in real-time. The work being undertaken will also help in paving the way for bridging critical gaps.
22497. THESE satellite pictures compare how India looked at night in 2012 and 2021
- Economic Survey of 2021-22 talked about the usage of satellite and geospatial data and shared satellite pictures showing how India looked in the night in 2012 and 2021.
- The satellite pictures showing the 'Night-time Luminosity' show the electricity usage and supply has spread across the country," Principal Economic Advisor Sanjeev Sanyal said.
- Last year, the Economic Survey was tabled two days before the Budget on January 29, as February 1
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22498. Space Tech Startup Agnikul Unveils Its Second Stage Assembly Of Made-In-India Rockets
- India is trying to make its own mark in the world of rockets, and thanks to this Indian startup, that might be a reality soon
- India is trying to make its own mark in the world of rockets, and thanks to this Indian startup, that might be a reality soon
- Founded in 2017 by Srinath Ravichandran, Moin SPM & SR Chakravarthy (from IIT-Madras), Agnikul is building India’s first private small satellite launch vehicle - Agnibaan, a rocket that enables plug-and-play configuration and is capable of carrying up to 100 kg of payload to low Earth orbits.
22499. Rail Budget 2022: 2,000 km of rail network to be brought under indigenous tech 'KAWACH' says Sitharaman
- Rail Budget 2022- Union Finance Minister Nirmala Sitharaman in the Union Budget 2022 said that 2,000 km of the rail network will be brought under the indigenous world-class technology KAWACH, as a part of the Atmanirbhar Bharat initiative.
- As a part of Atmanirbhar Bharat, 2,000 km of the rail network will be brought under the indigenous world-class technology KAWACH, for safety and capacity augmentation in 2022-23," Sitharaman said while presenting her fourth Budget in the Parliament.
- 'Kawach' is an indigenously developed anti-collision device to prevent accidents to achieve railways its goal of zero accidents.
22500. Circulate Capital commits $19 million investment in 4 waste management cos in India
- Circulate Capital on Thursday said the Circulate Capital Ocean Fund (CCOF) has committed to invest USD 19 million (about Rs 140 crore) in four companies that are using technology and innovation to transform India’s waste management and recycling value chain.
- The four companies selected are Srichakra Polyplast, Rapidue Technologies (Recykal), Deeya Panel Products (Ricron) and Dalmia Polypro Industries, a statement said. Circulate Capital is a Singapore-based investment management company focused on preventing plastic from leaking into the ocean and advancing the circular economy.
- Established in partnership with PepsiCo (its first investor), Procter & Gamble, Dow, Danone, Chanel, Unilever, The Coca-Cola Company and Chevron Phillips Chemical, CCOF is the world’s first investment fund dedicated to combat ocean plastic in south and southeast Asia.
- CCOF’s portfolio includes seven companies in the waste management and recycling industry, including six in India and one in Indonesia.