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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (103083) | |
2531. DPIIT and Paytm join hands to boost fintech and manufacturing startups in India
- On February 26,2025, The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with Paytm (One97 Communications Limited) to foster innovation and accelerate the growth of fintech and manufacturing startups in India.
- According to DPIIT, this collaboration aims to provide essential support to entrepreneurs, enabling them to scale their businesses and strengthen India’s position as a global leader in emerging financial technologies.
- By leveraging Paytm’s fintech expertise and infrastructure, we aim to support entrepreneurs in overcoming challenges, scaling their ventures, and contributing to India’s emergence as a global innovation hub.”
2532. Indian pharma rises to global prominence led by export boom and better compliance rates, McKinsey report reveals
- On February 27, 2025, A new report has revealed that India’s pharmaceutical sector that has risen in prominence as the largest supplier of generic medicines. ccording to McKinsey & Company’s latest report, this growth is driven by pharma exports growing faster than the global average,
- As of 2024, India has emerged as the world’s largest supplier of generic medicines, with a 9% pharma export growth rate, nearly double the global average. The country meets 20% of global demand, including over 40% of U.S. generic needs and 25% of medicines in the UK.
- India supplies over 60% of the world’s vaccines and 70% of global antiretroviral drugs for HIV treatment.
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2533. Rajasthan launches accident insurance scheme for school students
- On 26 February, 2025, State Education and Panchayati Raj Minister introduced the Shiksha Sanjeevani Bima Yojana during a special event at Residency Girls Higher Secondary School in Udaipur.
- The first-of-its-kind scheme in the state, it provides personal accident insurance coverage of Rs one lakh to 1.3 lakh students in the government schools across Udaipur division.
- Objectives of the scheme include ensuring continuity in children's education, preventing child labour, promoting financial inclusion through Digital India, preventing misuse of insurance claim amounts, instilling a habit of saving from an early age and providing scholarships with interest until the child turns 18 in case of a parent's accidental demise.
2534. IHCL join hands with Goa govt to develop India's largest hospitality skilling centre
- On Feb 27, 2025, Indian Hotels Company (IHCL) has signed a Memorandum of Understanding (MOU) with the Ministry of Skill Development & Entrepreneurship, Goa, to establish the largest hospitality skilling centre in the country.
- The landmark initiative aims to address the growing need for skilled workers in Goa’s vibrant tourism and hospitality sector, offering increased employment opportunities for local youth.
- The skilling centre will offer various training programmes tailored to the hospitality industry’s demands.
2535. Speed upto 1,200 kmph’: India’s first hyperloop corridor in works; watch
- On 25 February, 2025, Union Minister of India announced that India is preparing to develop a 50 km hyperloop corridor for commercial transport. This initiative follows the successful construction of a 422-meter test track by IIT Madras, supported by Indian Railways. If completed, it could become the world's longest hyperloop track.
- The time has come when after the first two grants of $1 million each (nearly ₹9 crore), the third grant of $1 million will be given to IIT Madras for further developing the hyperloop project in a nice way.
- proposed test track for commercial operations will enable the railways to evaluate the feasibility of hyperloop technology, which can achieve speeds of up to 1,200 kmph.
2536. Indian Army procures critical CBRN defence equipment
- Indian Army has signed a contract for procurement of 223 Automatic Chemical Agent Detection and Alarm (ACADA) systems with L&T Ltd at a cost of Rs 80.43 crore, under the Buy Indian (IDDM) category.
- The government's Atmanirbharta initiative will receive a significant boost, with over 80% of the equipment's components and sub-systems being sourced locally.
- Induction of ACADA in the field units will substantially enhance Indian Army's defensive CBRN capability for operations, as also for peacetime, especially for responding to disaster relief situations related to industrial accidents
2537. DRDO successfully tests Naval Anti Ship Missile Short Range
- On 25 Feb 2025, "DRDO and Indian Navy successfully flight tested Naval Anti Ship Missile Short Range (NASM-SR) from ITR, Chandipur.
- The trials have proven the missile’s Man-in-Loop feature and scored a direct hit on a small Ship target in sea-skimming mode at its maximum range," DRDO announced on social media platform X.
- The missile is developed by different labs of DRDO including Research Centre Imarat, Defence Research and Development Laboratory, High Energy Materials Research Laboratory and Terminal Ballistics Research Laboratory.
2538. Hindustan Power signs MoU with Assam government for Rs 620 crore renewable energy projects
- On March 4, 2025, Hindustan Power signed a Memorandum of Understanding (MoU) with the Assam government to invest ₹620 crore in renewable energy projects, including a 100-MW solar power plant and a 100-MW battery energy storage system.
- The investment details are as follows: ₹500 crore allocated for the solar power plant. ₹120 crore dedicated to the battery storage facility. The projects are expected to generate over 5,000 man-days of employment, supporting economic growth and job creation.
- Hindustan Power Chairman Ratul Puri emphasized the company’s longstanding commitment to Assam’s renewable energy sector, recalling that Hindustan Power was the first to develop a large-scale solar power plant in Assam in 2016.
- The MoU was signed during the ‘Advantage Assam 2.0’ business summit, reinforcing Assam’s commitment to green energy expansion and sustainable infrastructure. The initiative aligns with the state’s goal of reducing reliance on traditional energy sources and modernizing its energy sector.
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2539. India's auto industry gears up for growth, driven by EV push and job boom: Report
- On March 16, 2025, India's automotive sector is expected to witness positive growth in the coming year, driven by supportive government policies and a growing job market,
- According to data analytics firm GlobalData report, about 24.7 per cent of these cities are likely to experience strong growth in the automotive sector, while 49.5 per cent are expected to see moderate growth.
- Cities like Mumbai, Hyderabad, and Pune are among those projected to thrive. On the other hand, about 7.5 per cent of cities may see stagnant growth, while 9.7 per cent and 15.5 per cent could experience moderate and pessimistic declines, respectively.
2540. Konkan Railway merger with Indian Railways partially approved by state govt: MP Kota Srinivas Poojary
- On 15 march, 2025, The Karnataka government has given partial approval for the merger of Konkan Railway with Indian Railways. A delegation of coastal Karnataka legislators will meet Chief Minister of Karnataka and Minister of Large and Medium Scale Industries excluding Sugar of Karnataka within two days to discuss the matter, BJP MP Kota Srinivas Poojary stated.
- The merger would enable Karnataka to receive additional central funding for railway development, including double-tracking and new train approvals. Other proposals aim to improve railway connectivity and infrastructure in the region
- Karnataka’s share in the merger stands at ₹227 crore. Proposals include extending the Mangaluru-Goa Vande Bharat Express to Mumbai, creating a separate Mangaluru railway division, upgrading Udupi station under Amrit Bharat, adding water refilling stations, and introducing a Bengaluru-Karwar train. Minister M.B. Patil is expected to review and provide clarity within 15 days.