Kladana Launches Workflow Automation to Prepare MSMEs for Festive Sales Surge

October 19, 2024: With India’s festive season approaching, Kladana has introduced its new Workflow Automation feature, aimed at helping MSMEs manage the anticipated increase in demand. The cloud-based ERP solution automates key processes like order handling, inventory management, and customer communication, using customizable workflow templates to trigger specific actions.

This automation ensures seamless operations during peak sales periods, reducing manual workloads and enhancing efficiency. MSMEs can set criteria for tasks like inventory replenishment and sales order processing, enabling them to scale operations effortlessly. Real-time data tracking and notifications further improve collaboration and productivity.

Ms. Aleksandra Brovchuk, Kladana’s Director for India, highlighted that the solution empowers small businesses to efficiently meet heightened seasonal demand.

For more information, visit Kladana’s website

Schumpeter Lecturer at SME Assembly 2024: Professor Johan Wiklund

Budapest, Hungary – The SME Assembly 2024 is set to feature a renowned expert in entrepreneurship as its Schumpeter Lecturer. Professor Johan Wiklund, a leading authority on neurodiversity, mental well-being, and the entrepreneurial lifecycle, will deliver the keynote address on innovation in enterprise.

Professor Wiklund, who holds positions at Syracuse University, Bath University, and Nord University, has made significant contributions to the field of entrepreneurship research. His work has focused on the role of neurodiversity and mental well-being in relation to entrepreneurial success.

With over 100 publications and 50,000 citations, Professor Wiklund is a highly respected figure in the academic community. He is the Editor-in-Chief of the leading entrepreneurship journal, Entrepreneurship in Theory and Practice, and has conducted research for European governments and the OECD.

The SME Assembly 2024, hosted by the Hungarian Presidency of the EU, will take place from November 18-20 in Budapest. Attendees can look forward to a thought-provoking discussion on the future of entrepreneurship from one of the field’s leading experts.

India: MSME Ministry Launches Special Campaign 4.0 to Promote Cleanliness and Improve Efficiency

New Delhi, 13th September 2024 – The Ministry of Micro, Small & Medium Enterprises (MSME) is gearing up for the upcoming ‘Special Campaign 4.0’, set to run from 2nd October to 31st October 2024. The initiative, aligned with the Government of India’s directives, aims to enhance cleanliness and reduce backlog in the Ministry and its associated field offices.

The campaign, themed “Institutionalising Swachhata, Minimising Pendency,” will focus on achieving a higher level of cleanliness across MSME offices and organisations throughout the country, while also streamlining service delivery processes.

As part of the preparations, the Ministry has appointed nodal officers and held meetings at all levels to formulate action plans. Specific tasks have been identified to ensure the campaign’s objectives are met. The Ministry is committed to conducting a range of activities designed to maximise cleanliness and efficiency within its operations.

During last year’s Special Campaign 3.0, the Ministry achieved significant success. Key accomplishments included the review of over 23,000 physical files, with nearly 5,000 files weeded out, and the disposal of scrap, generating revenue of over ₹50 lakh. The campaign also freed up 17,664 square feet of office space. Additionally, more than 97% of public grievances and 94% of MP references were resolved, while 548 cleanliness drives were organised.

The MSME Ministry, in collaboration with its attached offices and organisations like the Khadi and Village Industries Commission, National Small Industries Commission, and Coir Board, remains committed to the goals of Special Campaign 4.0, aiming for continued success in cleanliness, efficiency, and service delivery.

This month-long campaign will contribute to a cleaner and more efficient MSME sector, further aligning with the government’s Swachh Bharat mission.

Albania Joins Global Accelerator Initiative to Boost Jobs and Social Protection

Budapest, September 2024: Albania has joined the UN’s Global Accelerator on Jobs and Social Protection for Just Transitions, an initiative aimed at addressing development challenges and accelerating progress towards the Sustainable Development Goals (SDGs). Launched in 2021, the Accelerator focuses on creating decent jobs in sectors like tourism, green industries, and the digital and care economies, while extending social protection to marginalized groups.

Albania’s roadmap, endorsed by the government in June 2024, outlines a strategy to improve social protection for people with disabilities, foster economic security, and enhance private sector involvement in vocational training, particularly targeting youth and women. Special attention is given to women laid off from the garment industry, with support for transitioning into jobs in hospitality and tourism.

This plan aligns with Albania’s national strategies and was co-created through consultations with the government, UN agencies, social partners, and civil society. The initiative is led by the Ministry of Economy, Culture, and Innovation, and the Ministry of Health and Social Protection.

The ILO continues to provide support through policy advice, technical assistance, and promoting international labour standards to foster inclusive growth and social justice.

Inauguration of Centre for Rural Enterprise Acceleration through Technology (CREATE) at Leh

Leh, 14 September 2024(PIB-MSME Gov.of India): The Ministry of Micro, Small, and Medium Enterprises (MSME) has inaugurated the Centre for Rural Enterprise Acceleration through Technology (CREATE) in Leh. Union Minister for MSME, Shri Jitan Ram Manjhi, launched the centre through a virtual ceremony, accompanied by senior dignitaries, including the Hon’ble Minister of State (MSME), Lieutenant Governor of Ladakh, and the Chairman of Khadi and Village Industries Commission (KVIC).

CREATE is designed to bolster rural industrialization and enhance the economic potential of traditional artisans in the Ladakh region. The centre aims to uplift local communities by providing advanced facilities and training programs, including a Pashmina Wool Roving Facility and production facilities for essential oil extraction from roses and other flowers. Additionally, training for bio-processing of local fruits and raw materials will also be provided.

The centre’s facilities, including machinery for Pashmina wool roving, are fully operational. This initiative will help improve local productivity, product quality, and overall livelihoods, especially in the challenging geographical and climatic conditions of Ladakh.

Speaking at the event, Minister Manjhi stressed the importance of supporting rural enterprise and promoting sustainable industrial growth in remote regions like Ladakh. The CREATE centre is expected to play a vital role in fostering entrepreneurship and retaining the traditional artisans of the region.

Coir Production and Promotion: Initiatives by the Coir Board

08 AUG 2024, 5:05 PM by PIB Delhi

The Coir Board has taken significant steps to enhance the promotion and sales of coir and coir products across India. With the establishment of 29 showrooms and 1 exclusive handicrafts outlet, the Board is committed to increasing the accessibility of coir products to consumers throughout the country. These outlets showcase products from artisans, including those from SC/ST communities.

The Board ensures that its showrooms are well-maintained, with recent renovations completed at locations in Indore, Navi Mumbai, Lucknow, Patna, Trivandrum, and Varanasi. Ongoing renovations are also in progress at showrooms in Jammu, Jaipur, Ahmedabad, Mumbai, and Chennai.

To broaden the reach of coir products beyond major cities, the Coir Board actively participates in exhibitions in smaller towns and tribal areas. This effort aims to make coir products available to a wider audience.

In addition to maintaining its showrooms in key urban centers, the Coir Board has implemented a comprehensive marketing strategy to boost domestic sales. This strategy includes regular publicity campaigns, training programs for young artisans and women, and participation in both national and international exhibitions.

The Board’s marketing efforts encompass various measures such as:

Procurement and Discount Strategies: Special strategies for bulk and festival season sales.
Business Development Advisors: Appointment of advisors to enhance sales.
Publicity Campaigns: Advertising through local cable networks, FM radios, and social media.

These initiatives are aimed at significantly increasing the sale of coir products through showrooms and other channels. The information was provided by the Minister of State for Micro, Small, and Medium Enterprises, Sushri Shobha Karandlaje, in a written reply to the Lok Sabha.

Credit Access and Finance for MSMEs: Government Initiatives

05 AUG 2024, PIB Delhi

The Government of India has introduced several measures to enhance credit access for Micro, Small, and Medium Enterprises (MSMEs). These initiatives aim to support MSMEs in securing the necessary financing to foster growth and development.

Key programs include:

Credit Guarantee Scheme for Micro and Small Enterprises: This scheme, managed by the Credit Guarantee Fund Trust for Micro and Small Enterprises, provides guarantees to Member Lending Institutions (MLIs) for loans extended to micro and small enterprises. The scheme offers collateral-free loans up to Rs. 500 lakh with guarantee coverage of up to 85%. As of June 30, 2024, the scheme has approved 91.76 lakh guarantees amounting to Rs. 6.78 lakh crore.
Prime Minister’s Employment Generation Programme (PMEGP): A major credit-linked subsidy program aimed at creating self-employment opportunities through micro-enterprises. It provides loans up to Rs. 50 lakh for manufacturing and Rs. 20 lakh for service sectors. Since its inception, PMEGP has supported over 9.69 lakh micro enterprises with a Margin Money subsidy of more than Rs. 25,500 crore, generating employment for approximately 79 lakh people.
PM Vishwakarma Scheme: This scheme offers end-to-end support to artisans and craftspeople, including credit at a 5% interest rate and guarantee coverage, to foster their business growth.
Pradhan Mantri Mudra Yojana (PMMY): PMMY provides collateral-free loans up to Rs. 10 lakh for small business enterprises in manufacturing, trading, service sectors, and activities allied to agriculture. The scheme is categorized into three loan types: Shishu (up to Rs. 50,000), Kishore (Rs. 50,000 to Rs. 5 lakh), and Tarun (Rs. 5 lakh to Rs. 10 lakh).
Stand-Up India (SUI) Scheme: Facilitates loans between Rs. 10 lakh and Rs. 1 crore from Scheduled Commercial Banks to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and one women borrower per branch.
Trade Receivables Electronic Discounting System (TReDS): A platform for the financing and discounting of trade receivables for MSMEs. As of May 2024, four digital platforms have been authorized to operate TReDS, involving over 5,000 buyers and more than 53 banks/13 non-banking financial companies (NBFCs) as financiers.

These initiatives reflect the Government’s commitment to improving financial accessibility for MSMEs, supporting their growth and sustainability. The details were provided by Sushri Shobha Karandlaje, Minister of State for Micro, Small, and Medium Enterprises, in a written reply to the Rajya Sabha.

May 2024

India: The Department for Promotion of Industry and Internal Trade (DPIIT) promoting Manufacturing Incubators

The Department for Promotion of Industry and Internal Trade (DPIIT) is actively promoting manufacturing innovation in India. They’re doing this by supporting startups and developing manufacturing incubators.

Why Manufacturing Matters

Strong manufacturing is crucial for economic growth. It creates jobs, boosts exports, and strengthens self-reliance. India has seen significant progress in recent years, but there’s room for more innovation.

Startups Drive Innovation

Startups are playing a key role in driving innovation in manufacturing. DPIIT is encouraging this by:

Organizing events like “Startup Mahakumbh” to highlight the importance of manufacturing incubators.
Reaching out to corporates and industry leaders to promote collaboration with startups.
Supporting the creation of manufacturing incubators by its autonomous institutes.

What are Manufacturing Incubators?

These incubators provide essential facilities and support for startups. This includes:

Pilot and scaling facilities
Shared resources for product development
Access to test beds and prototyping facilities
Connections to potential investors and markets

Benefits for Corporates

Corporates can also benefit from collaborating with startups through incubators. This allows them to:

Access innovative technologies developed by startups
Reduce R&D costs and time
Gain a competitive edge in the market

The Path Forward

DPIIT is encouraging all stakeholders in the ecosystem to support manufacturing startups. This includes corporates, academic institutes, and research institutions. By working together, India can further strengthen its manufacturing capabilities and become a global leader in innovation. ( Source: DPIIT)

DET Launches Inaugural Dubai Sustainability Report

Press Release(Dubai Economy and Tourism/DET) May 2024: The Dubai Department of Economy and Tourism (DET) has launched its first ‘Dubai Sustainability Report. “The first annual Dubai Sustainability Industry Report underlines the strides the city has made to prioritise environmental stewardship and social inclusion.”

The Dubai Department of Economy and Tourism (DET) has launched its first ‘Dubai Sustainability Report’ at the Arabian Travel Market, spotlighting the city’s strides and ongoing efforts in sustainability. The report supports the Dubai Economic Agenda (D33), aiming to place Dubai among the top three global cities for business, leisure, and living.The report underscores the vital role of public-private partnerships in advancing Dubai’s sustainability initiatives. Collaboration between government entities and businesses has propelled responsible tourism, especially in rural communities, conservation areas, and historical districts.

The Dubai Sustainable Tourism (DST) initiative by DET is pivotal in promoting sustainable tourism. It comprises four pillars: Standards, Awards, Programs, and Education, aimed at raising awareness and educating the sector.Launched in July 2023, the Dubai Sustainable Tourism Stamp recognizes hotels that adhere to DET’s 19 Sustainability Requirements. As of January, 70 hotels have been awarded this stamp. Since 2017, the Carbon Calculator tool has been measuring the carbon footprint of hotels across Dubai, aiding in sustainability tracking.Led by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Dubai Can initiative promotes reusable bottles and has significantly reduced single-use plastic bottles through 50 water fountains across the city. The initiative has also seen the launch of the Dubai Reef project, aiming to develop the world’s largest marine reef.

Fine Hygienic Holding Earns EcoVadis Silver Rating for Sustainability Leadership

Hashtags: #SustainabilityLeadership #EcoVadisSilver #CSR #HygieneIndustry #EnvironmentalResponsibility #FineHygienicHolding #AlNakheel #SustainablePractices

Dubai, 1 May 2024 ( Press Release): Fine Hygienic Holding’s Al Nakheel Hygienic Paper Manufacturing LLC has achieved the prestigious EcoVadis Silver Rating, recognizing its commitment to sustainability and corporate social responsibility. This accomplishment underscores FHH’s leadership in implementing environmentally friendly practices and ethical business standards within the hygiene industry. CEO James Michael Lafferty expressed pride in the achievement, emphasizing FHH’s dedication to sustainability and excellence. The recognition from EcoVadis reinforces FHH’s position as a preferred hygiene provider for organizations prioritizing sustainability. FHH remains committed to advancing sustainability initiatives and making a positive impact on both the environment and society.

#SustainabilityLeadership #EcoVadisSilver #CSR #HygieneIndustry #EnvironmentalResponsibility #FineHygienicHolding #AlNakheel #SustainablePractices

Saudi Red Sea Authority and NEOM Forge Partnership to Boost Marine Tourism

Riyadh, 3 May 2024 (Press Release): Saudi Red Sea Authority (SRSA) has inked a memorandum of understanding (MoU) with NEOM, aiming to advance marine tourism legislation, regulations, and technology in Saudi Arabia. The collaboration will foster expertise sharing and joint initiatives implementation to enhance research, innovation, and visitor experiences in the Red Sea coastal destinations. Acting CEO Mr. Mohammed Al-Nasser represented SRSA, while NEOM CEO Nadhmi Al-Nasr signed the agreement. The MoU underscores SRSA’s dedication to catalyzing investment in coastal tourism and supporting small and medium enterprises. Aligning with Saudi Vision 2030, SRSA aims to integrate with public, private, and third sectors to bolster coastal tourism as a vital sector of the national economy. The partnership includes cooperation in supporting investment opportunities, planning joint initiatives, and promoting sustainable marine tourism practices. This initiative reflects SRSA’s commitment to expand strategic partnerships and regulate marine tourism activities while ensuring environmental sustainability.

#SaudiRedSeaAuthority #NEOM #MarineTourism #SaudiVision2030 #StrategicPartnerships #Sustainability

Accelerating Solar Adoption in East Africa: Davis & Shirtliff Partners with Trina Solar

Davis & Shirtliff, a leading provider of water and energy solutions in East Africa, has teamed up with Trina Solar, a Tier-I global leader in PV modules and smart energy solutions, to drive solar power adoption in the region. The partnership aims to promote sustainability, energy security, and economic growth through the distribution of innovative solar panels and educational campaigns. With increasing demand and government initiatives, solar energy is transforming East Africa’s energy landscape, offering benefits such as reduced carbon emissions and improved energy access.

#SolarPower #EastAfrica #RenewableEnergy #Sustainability #TrinaSolar #DavisandShirtliff

Mongolia Pursues Free Trade Agreement with Eurasian Economic Union

According to AKIPRESS.COM, Mongolia is aiming to finalize a temporary free trade agreement with the Eurasian Economic Union (EAEU) by the close of 2024, as stated by Unubilegt Delgertsetseg, First Secretary of the Ministry of Foreign Affairs of Mongolia. Delgertsetseg mentioned during the plenary session of the international scientific and practical conference “Current issues of Russian-Mongolian cooperation” that negotiations with the Eurasian Union have already commenced for the conclusion of this agreement. Expressing optimism, Delgertsetseg hopes that the negotiations will culminate in the agreement’s signing by the end of the year. He emphasized the necessity for unified and thoughtful action to address the challenges faced, aiming for sustainable and balanced growth in the region.

Growth in Service Sector Boosts Trade within the Eurasian Economic Union

The Eurasian Economic Union (EAEU) witnessed a significant increase in the turnover of services among its member states in 2023 compared to the previous year. Armenia saw a notable 33.6% rise in the positive balance of trade in services, while Belarus experienced a decrease of 32.7%. Transport services and travel dominated the structure of exports and imports of services across most member states, highlighting the importance of these sectors. The Eurasian Economic Commission (EEC), established in 2012, serves as the union’s permanent regulatory body, overseeing economic policies and initiatives. The growth in service sector turnover underscores the region’s economic development and interconnectedness. Moving forward, continued collaboration and efforts to address disparities among member states will be crucial for sustaining this positive momentum within the EAEU.

Lower economic growth and trade disruptions in 2024 to impact development

24 April 2024, UNCTAD (Press Release: Amidst projections of further economic slowdown and trade disruptions in 2024, a recent report by the UN Trade and Development (UNCTAD) emphasizes the imperative of coordinated multilateral action to address pressing global economic challenges. Led by Secretary-General Rebeca Grynspan, the report highlights the need for a balanced policy mix and concerted efforts to safeguard the global economy amidst shifting trade patterns, mounting debt, and the escalating costs of climate change, particularly impacting developing nations.
The prospect of interest rate cuts offers a glimmer of hope for alleviating pressure on private and public budgets worldwide. However, the report cautions that monetary policy alone cannot adequately tackle the multifaceted challenges at hand. Instead, it underscores the importance of a comprehensive approach, integrating fiscal, monetary, demand-side, and investment-boosting measures to foster sustainable growth and equitable income distribution.
Central to the report’s recommendations is the call for addressing systemic issues such as international trade asymmetries and market concentration. This includes advocating for reforms to enhance fiscal flexibility and strengthen the global financial safety net, thereby advancing the Sustainable Development Goals (SDGs) and promoting inclusive growth.
Furthermore, the analysis delves into the complexities of inflation dynamics, highlighting the role of supply chain disruptions and market dominance. Despite stable employment, inflation decreased in 2023, underscoring the need for nuanced policy responses. Notably, real wages remain below pre-pandemic levels, emphasizing the urgency of addressing income disparities.
In conclusion, the UNCTAD report serves as a clarion call for concerted multilateral action and policy coordination to navigate the intricate challenges facing the global economy. From addressing trade imbalances to ensuring inclusive growth and tackling inflation dynamics, collaborative efforts among nations are essential in charting a path towards sustainable development and prosperity for all.

Konza Technopolis and Acyberschool Partner to Train One Million Kenyans in Cybersecurity and AI

24 April 2024, Nairobi( Press Release) : Konza Technopolis Development Authority (KoTDA) has joined forces with Acyberschool to train one million Kenyans in Artificial Intelligence (AI) and cybersecurity. The collaboration, formalized at the ongoing Connected Africa Summit 2024, aims to equip Kenyan youth with essential skills for the digital economy.

Over the course of five years, the partnership will focus on resource mobilization to ensure the successful implementation of the training program. John Paul Okwiri, CEO of KoTDA, expressed optimism about the initiative’s potential to enhance the Jitume Digital Skills program and accelerate digital skills development nationwide.

“We’re thrilled to partner with Acyberschool to provide Kenyan youth with training in AI, emerging technologies, and cybersecurity solutions,” said Okwiri. The phased program targets one million youth, emphasizing the importance of collaboration in achieving this goal.

Evalyn Oloo, CEO of Acyberschool and Chairperson of the Africa Cybersecurity and AI Foundation (ACAIF), underscored the significance of cybersecurity and AI in shaping the future workforce. She urged young Kenyans to seize the opportunity to acquire relevant skills for the digital industry.

The partnership aligns with efforts to leverage youth talent for digital transformation, echoing sentiments expressed at the Connected Africa Summit 2024. Konza Technopolis, alongside key stakeholders, remains committed to fostering digital technology growth in Kenya through initiatives like the Jitume Program.

Emaar Development notes Strong Performance

23 April 2024 (Press Release)

Emaar Development PJSC (DFM: EMAARDEV) convened its Annual General Meeting (AGM) on April 23, 2024, highlighting the company’s robust performance throughout 2023.

Shareholders unanimously approved the distribution of dividends totaling AED 2.082 billion (US$ 567 million), showcasing Emaar’s dedication to enhancing shareholder value. The Board’s comprehensive report on the company’s operations and financial status, along with the Auditor’s report, received widespread approval.

Emaar Development reported a remarkable 22% increase in property sales, reaching AED 37.4 billion (US$ 10.2 billion), contributing to a healthy sales backlog of AED 57.1 billion (US$ 15.5 billion). The company achieved a revenue of AED 11.9 billion (US$ 3.2 billion) and a net profit of AED 6.6 billion (US$ 1.8 billion), marking a substantial 74% growth compared to the previous year.

In 2023, Emaar Development delivered over 12,000 residential units across premier locations in the UAE, further solidifying its position as a leading developer in the region. With over 70,000 residential units delivered to date and an additional 25,500 units under development, Emaar continues to shape Dubai’s landscape.

Mohamed Alabbar, Founder of Emaar Properties, expressed gratitude for shareholders’ unwavering support and outlined ambitious plans for 2024, emphasizing Emaar’s commitment to excellence and innovation in property development.

Hashtaged Keywords: #EmaarDevelopment #AGM #property #Dubai #financialperformance #residentialunits #growth #shareholders #MohamedAlabbar

MG Motor Unveils All-New MG 7 Sedan in GCC, Lebanon, and Iraq

23 April 2024 (Press Release)

MG Motor has launched its latest offering, the MG 7 sedan, across GCC markets, Lebanon, and Iraq. This expansion signifies a significant move for the British brand, boasting a blend of sophistication and cutting-edge technology. With options of 1.5L or 2.0L Turbo petrol engines, the MG 7 promises a thrilling driving experience. Priced from USD 21,300, it offers exceptional value for its class, coupling economy, style, and performance. Additionally, customers enjoy a generous 6-year/200,000 km warranty. Boasting a sleek design and dynamic features like sporty red calipers and 19-inch wheels, the MG 7 sets a new standard for elegance in the MG lineup.

MG Motor is a British-born automotive brand established in 1924, known for its historic models,
awards, and achievements throughout the past 100 years. MG was founded by William Morris and
Cecil Kimbers and has one of the oldest car clubs in the automotive industry. Best known for its
two-seat open sports cars, MG Motor also produced saloons and coupes. Since its acquisition of
MG, SAIC MOTOR, as a Global Top 500 company, has opened a new chapter for this British icon.
MG Motor is at the forefront of the introduction of innovative technologies and new energy vehicles
for car buyers.

The MG 7 will be available in all GCC markets, Lebanon, and Iraq, with prices starting
from USD 21,300 (excluding VAT)
The MG 7 offers cutting-edge race mode capabilities, complemented by luxurious
details including a sleek aerodynamic design and integrated motorsport seats
Available with either 1.5L or 2.0L Turbo petrol engines, offering drivers a powerful
and an immersive driving experience, backed by a generous 6-year/200,000 km
manufacturer’s warranty

#MGMotor #MG7 #sedan #GCC #Lebanon #Iraq #British #technology #performance #innovation #value #elegance #sophistication #drivingexperience #petrol #warranty #aerodynamic #design #style #streamlined #dynamic

Cenomi Retail Taps Deloitte for Aleph Divestment Strategy

23 April 2024 ( Press Release)

Cenomi Retail, a leading Saudi retail brand, has enlisted Deloitte to facilitate the sale of Aleph, its Apple-focused venture in KSA. The move underscores Cenomi’s focus on flagship brands in core sectors like Fashion and Food & Beverage, bolstering its transformation agenda with operational enhancements. With Aleph boasting 19 existing stores and plans for further expansion, Deloitte’s appointment signifies a critical step in Cenomi’s divestment roadmap, aligning with its broader strategy of shedding 39 brands in 2024. Proceeds from Aleph’s sale will fuel Cenomi’s debt reduction efforts, marking a significant milestone in its turnaround journey.

STPI Launches FinGlobe to Foster Fintech Startups in Gandhinagar

The Software Technology Parks of India (STPI) unveiled its 24th Center of Entrepreneurship (CoE), “FinGlobe,” in Gandhinagar, dedicated to nurturing startups in the fintech and banking sectors. In a ceremony inaugurated by Shri K Rajaraman, Chairperson of the International Financial Services Centres Authority (IFSCA), the CoE aims to accelerate innovation and growth in financial technology.

In collaboration with the Department of Science and Technology, Government of Gujarat, FinGlobe seeks to be a catalyst for cutting-edge technological developments in financial services. The CoE provides 50 Plug-n-Play incubation seats and offers state-of-the-art infrastructure, expert mentorship, and a collaborative ecosystem to empower entrepreneurs and established players in the fintech, TechFin, banking, and related domains.

During the launch event, five Memorandums of Understanding (MoUs) were exchanged between STPINext Initiatives and its CoE partners, including (n)Code Solutions, CrAdLE at the Entrepreneurship Development Institute of India, Pandit Deendayal Energy University, GVFL Limited, and TiE-Ahmedabad.

STPI Director General Shri Arvind Kumar emphasized the CoE’s significance in driving digital transformation and job creation, positioning Gujarat as a prominent IT destination. FinGlobe aims to enable startups to penetrate new areas of the financial system, fostering innovation and reshaping the competitive landscape. #STPI #FinGlobe #Fintech #Gandhinagar #Entrepreneurship #Startups

India AI Mission to Boost AI Innovation

The Government of India, greenlights the ambitious IndiaAI mission with a budget of Rs. 10,371.92 crore. This comprehensive initiative aims to strengthen the nation’s AI innovation ecosystem by establishing public AI compute infrastructure, investing in indigenous foundational models, and financing AI startups from conception to commercialization.

Key Components of the IndiaAI Mission:

IndiaAI Compute Capacity: Establishing a public-private partnership to develop a high-end AI computing ecosystem with over 10,000 GPUs. An AI marketplace will provide resources for AI innovation.
IndiaAI Innovation Centre: Focusing on developing indigenous Large Multimodal Models (LMMs) and domain-specific foundational models.
IndiaAI Datasets Platform: Streamlining access to quality non-personal datasets for AI innovation.
IndiaAI Application Development Initiative: Promoting AI applications in critical sectors sourced from Central Ministries, State Departments, and other institutions.
IndiaAI FutureSkills: Increasing AI courses in educational programs and setting up Data and AI Labs in Tier 2 and Tier 3 cities.
IndiaAI Startup Financing: Supporting deep-tech AI startups and providing streamlined access to funding.
Safe & Trusted AI: Implementing Responsible AI projects and developing indigenous tools and frameworks for safe and ethical AI development.

The IndiaAI Mission aims to propel innovation, build domestic capacities, create skilled employment opportunities, and demonstrate AI’s potential for social good on a global scale. #IndiaAI #AIInnovation #TechSovereignty #StartupFunding #EthicalAI

KVIC Boosts Rural Artisans with Machinery and Tool Kits in Jammu & Kashmir

In a move to empower rural artisans and align with Prime Minister Shri Narendra Modi’s vision, the Khadi and Village Industries Commission (KVIC) distributed 411 machinery and toolkits under the Khadi Gramodyog Vikas Yojana in Jammu and Kashmir. The distribution, led by KVIC Chairman Shri Manoj Kumar and attended by KVIC Member Shri Nagendra Raghuvanshi, also included initiatives like providing 300 Bee Boxes to beekeepers, 100 Electric Wheels to potters, and 10 Hydra Pulper Paper Mache machines to artisans.

Shri Kumar emphasized the Modi government’s commitment to promoting Khadi and Village Industries products globally, enhancing rural artisans’ livelihoods. He highlighted KVIC’s efforts in providing modern training, toolkits, and machinery to artisans, contributing to the ‘Aatmanirbhar Bharat Abhiyan’ and ‘Ek Bharat Shrestha Bharat Abhiyan’. Notably, KVIC’s initiatives have positively impacted over 1 lakh potters and distributed over 2 lakh Honey Bee Boxes to beneficiaries.

Through various schemes like PMEGP, KVIC has facilitated the establishment of new units, providing employment opportunities to thousands in Jammu and Kashmir. Shri Kumar underscored KVIC’s role in realizing the dream of an Aatmanirbhar Bharat by promoting village industries and providing skill development training to rural workers. #KVIC #RuralArtisans #JammuAndKashmir #Empowerment #AatmanirbharBharat

4 Crore Enterprises Register on Udyam and UAP, a Landmark Achievement for MSME Formalization

On March 15, 2024, the total registered enterprises on Udyam and UAP surpassed 4 crore, marking a significant milestone in the formalization initiative led by the Ministry of Micro, Small and Medium Enterprises (MSME). Committed to fostering the growth of MSMEs, the Ministry introduced a composite definition of investment and turnover for classifying micro, small, and medium enterprises through notifications in June and July 2020.

The launch of the Udyam Registration Portal (Udyam) in July 2020 provided a simple and free online platform for enterprises with PAN to formalize their operations, considering both investment and turnover. Subsequently, the Ministry introduced the Udyam Assist Platform (UAP) in January 2023 for enterprises without a GSTIN.

Recognizing the importance of these initiatives, the Government of India specified that certificates issued by UAP to Informal Micro Enterprises (IMEs) are equivalent to Udyam Registration Certificates for availing Priority Sector Lending (PSL) benefits. The RBI also categorized IMEs with Udyam Assist Certificates as Micro Enterprises under MSME for PSL classification.

This achievement underscores the government’s commitment to promoting MSMEs and facilitating their formalization, paving the way for their integration into the formal economy and unlocking growth opportunities. #MSME #Udyam #Formalization #Entrepreneurship #EconomicGrowth

ILO Report: Climate Change Poses Grave Health Risks for Over 70% of Global Workforce

A new report by the International Labour Organization (ILO) reveals that more than 70% of the world’s workers are likely to face health hazards due to climate change. The report highlights a range of serious health consequences, including cancer, cardiovascular diseases, respiratory illnesses, kidney dysfunction, and mental health conditions.

According to the report, over 2.4 billion workers globally are expected to be exposed to excessive heat at some point during their work, leading to significant health risks. Additionally, around 18,970 lives are lost annually due to occupational injuries related to excessive heat, with millions suffering from chronic kidney disease attributed to workplace heat stress.

The impact of climate change on workers extends beyond heat exposure, encompassing a “cocktail of hazards” that result in various dangerous health conditions. For instance, millions of workers face risks such as UV radiation exposure, workplace air pollution, pesticide exposure in agriculture, and parasitic and vector-borne diseases.

Manal Azzi, OSH Team Lead at the ILO, emphasizes the urgent need to integrate occupational safety and health considerations into climate change responses. The report calls for robust measures, including legislative reforms, regulations, and improved climate mitigation strategies in workplaces, to ensure the safety and well-being of workers in the face of climate change challenges. #ILOReport #ClimateChange #HealthHazards #WorkplaceSafety #GlobalWorkforce

Kaspersky Thin Client 2.0: Enhanced Cyber Immune Protection for Remote Desktop Access

19 April 2024, (Press Release): Kaspersky unveils its latest innovation, Kaspersky Thin Client 2.0 (KTC 2.0), revolutionizing remote desktop access with advanced cybersecurity features. Developed under the Cyber Immune approach, KTC 2.0 ensures robust security by design, even in hostile environments, powered by the resilient KasperskyOS.

Preinstalled on the Centerm F620 hardware platform, KTC 2.0 is a ready-made endpoint device resulting from an OEM contract between Kaspersky and Centerm, a leading thin client manufacturer globally.

The new version of KTC 2.0 boasts significant updates in connectivity, performance, and usability:

Enhanced Connectivity: Offers new remote connection methods, including Web Access application for Citrix Workspace and VMware Horizon platforms, and support for individual business applications on Microsoft Remote Desktop Services and Windows Server.

Improved Performance: Features faster application delivery, shorter boot time, and quicker updates due to a compact OS image size. Deployment time is reduced to approximately two minutes through automatic connection.

Usability and Design: Introduces support for audio conferences, document printing from guest operating systems, and automatic reconnection to remote desktops in case of interruptions. Redesigned connection panel with animated elements and customizable interface enhances user experience.

Kaspersky Thin Client 2.0 is tailored for organizations with extensive branch networks, including financial institutions, healthcare providers, educational and governmental bodies, transportation, industrial enterprises, smart city infrastructure, and the industrial automation sector.