Indian Economy-News & Updates

[Nilgiri]

http://infrastory.com/2018/12/06/alstom-delivers-22-makeinindia-metro-trains-for-sydney-metro/

French railway giant Alstom has successfully delivered the last of the 22 Metropolis trains for Sydney Metro from Alstom’s Sricity facility in Andhra Pradesh, India. The flag-off ceremony at Sricity took place in the presence of Ling Fang, Alstom Senior Vice President Asia Pacific, Alain Spohr, Managing Director India and South Asia, and Mark Coxon, Managing Director Australia and New Zealand.

In 2014, Alstom won a contract to deliver 22 six-car trainsets, as well as the CBTC signalling system, for North West Rail Link, Australia’s largest public transport project and first fully-automated metro network. Alstom’s engineering hub in Bengaluru adapted the Metropolis and Urbalis CBTC solutions to the specific needs of Sydney Metro to ensure fast, safe and reliable services to the residents of Sydney.

“We are immensely proud to have completed the last train for Sydney Metro in this landmark project for the Asia Pacific region. We are also proud to see Sricity concluding its first export order on time, delivering on expectations and winning our customer’s trust. We firmly believe in India’s role as a manufacturing and engineering hub for international markets, and this milestone bear witness to that,” said Ling Fang.

Having begun production in 2014, Sricity has already set high standards for quality and operational safety through excellence in innovation and sustainable manufacturing practices. With an annual production capacity of 240 cars, the site has delivered metros for the cities of Chennai, Kochi and Lucknow. It will begin work on its second export order for the light metro project in Montreal from early 2019 while production for Mumbai Metro Line 3 will also begin next year. The on-time delivery of the trainsets for Sydney establishes Alstom’s Sricity site as the one of the group’s global manufacturing centres of excellence for rolling stock.

The Metropolis train for Sydney offers maximum comfort and safety to passengers. A fully-automated train, it features the latest in passenger information systems, as well as areas for prams, luggage, bicycles, wheelchair spaces and separate priority seating for those with reduced mobility. Once inside, passengers can circulate freely throughout the train with wider gangways. The Metropolis destined for Sydney is based on the internationally proven Metropolis train platform. Metropolis trains currently operate in more than 25 cities around the world, including Singapore, Barcelona and Amsterdam.

@anant_s @Vergennes

@bluesky @Mage @Tanveer666 this is what I've been talkin about when you lower excise levels and attract investment that way.

 

[kmc_chacko]

Train 18 a super hit! Indian Railways may roll out 10 more engine-less ‘Shatabdi killers’; details here

Train 18 a super hit! With trials of Indian Railways first engine-less train for long-distance travel proving to be a success, Piyush Goyal-led Railway Ministry has asked ICF, Chennai to expedite manufacturing of more such train sets. According to a circular issued by the Railway Board to ICF, the coach factory has to now manufacture more Train 18 sets in the current production year. Earlier, ICF had the mandate to manufacture just one more Train 18 rake by March 2019. According to the new circular, a copy of which is with Financial Express Online, in a recent meeting of the Railway Board, led by Piyush Goyal it was decided that “necessary action should be taken” for manufacturing four more Train 18 rakes in the current year.

The Railway Board meeting took place last week on December 5. According to the circular, the Railway Board appreciated the success of “new indigenous train set (T-18)”. The circular adds that necessary changes in the production programme (of ICF) will be communicated shortly. In the meantime, ICF has been asked to start procuring material and also schedule the production activities to achieve the revised target.

However, talking about the Railway Board’s direction, ICF GM Sudhanshu Mani told Financial Express Online, “ICF will try to make two more (Train 18 sets) in this financial year and up to 8 in the next financial year depending upon the allotment from Railway Board.” That takes the total number of Train 18 sets slated for production to 10.

Train 18 is an all air-conditioned chair car that was envisioned to replace Shatabdi Express trains on the Indian Railways network. The first prototype was rolled out by ICF, Chennai in end-October and since then the train has been undergoing extensive speed trials by RDSO. Recently, Train 18 became the fastest Indian Railways train, hitting speeds of over 180 kmph during its trials on a section of the Delhi-Mumbai Rajdhani route. It surpassed the record of Gatimaan Express which operates at 160 kmph.

Manufactured under the ‘Make in India’ initiative, Train 18 is a self-propelled train set with all its equipment underslung. The semi-high speed train makes use of regenerative braking, hence saving energy. With faster acceleration and deceleration and lesser turnaround time, Train 18 will ensure faster travel and more efficient use of rolling stock. According to Sudhanshu Mani, Train 18 has been manufactured at Rs 100 crore, but the cost will come down as more rakes are made and economies of scale kick-in.

https://www.financialexpress.com/in...-less-train-18-sets-this-fiscal-year/1409667/

 

[lemurian]

http://marinebharat.com/iwai-orders-6-methanol-fuelled-vessels-cochin-shipyard/

IWAI orders 6 methanol-fuelled vessels from Cochin Shipyard

To make shipping on national waterways more lucrative, Inland Waterways Authority of India (IWAI) has taken up a pilot project to demonstrate methanol as a maritime fuel. Along with procurement of new ships, IWAI has also planned to retrofit its work boats with green fuel.

The nodal agency for inland waterways has decided to place an order to retrofit workboats and new cargo vessels with engines that can run on methanol.

IWAI has planned to retrofit its work boats with green fuel and also placed orders with Cochin Shipyard Ltd (CSL) for procuring six new vessels, based on methanol mix. CSL will get the work done by Hooghly Dock and Port Engineers Ltd (HDPEL) in Howrah, with which it has formed a joint venture.

Methanol can be a game changer as the cost of the fuel is just Rs 26 a litre and the roadmap was shown by Union transport and shipping minister Nitin Gadkari. IWAI is also working on fuel bunkering facilities in intervals of about 500 km on the entire 1,600 km Haldia-Varanasi stretch for ships on methanol.

The newly ordered six vessels, based on methanol, are ranging from 1,000-2,000 tonnes capacity and designed by Germany’s DST. The design of the new cargo vessels has been offered by DST of Germany that requires just 1.5 meters draft, a crucial factor for inland waterways’ success at least in the NW-I that stretches from Haldia to Varanasi.

IWAI has assured draft of 2.8-3 metres till Patna but further upstream there is draft issues which can be as low as 2 meters. IWAI is also working on freight villages at Sahebgunj and Varanasi for which it has already taken land between 100 and 300 acres that will provide infrastructure to support volumes.

 

[kmc_chacko]

India's fastest Train 18 may be launched on December 25 between New Delhi-Varanasi
India's long wait for world-class fast trains may end this year only. As per news agency IANS report, Indian railways plans to launch country's fastest rail -- Train 18 -- by the end of this year on December 25. The train service is likely to be launched between New Delhi and Varanasi.

https://economictimes.indiatimes.co...n-new-delhi-varanasi/articleshow/66914877.cms

 

[lemurian]

https://www.financialexpress.com/in...d-bank-sustainable-development-award/1411897/

PPP model for Ganga wastewater treatment wins World Bank Sustainable Development Award

The Public-Private Partnership for the wastewater treatment plants across the Ganga Basin, which has been supported by the Hybrid Annuity Model of World Bank won the World Bank’s Sustainable Development Vice President’s Award in 2018.

The Ganga Basin, where the project has been implemented, is home to 450 million people. The area has been reeling under problems like rapid urbanisation and population explosion which has directly affected the water assets in the area. Water pollution and water shortage are now two of the most potent problems in the area due to the stressed assets – around 8,000 million litres of untreated water flows through the Ganges every day, estimates say. However, if this is treated and reused for industrial purpose, it would relieve the area of the water shortage or pollution, even if not on a large extent.

The awarded World Bank model supported financing, maintenance and sustainable operations of the wastewater treatment plants across the banks of Ganges – in collaboration with the World Bank, International Finance Corporation and 2030 Water Resources Group (2030WRG). Under the Hybrid Annuity Model, 40 percent of the project cost is paid by the government, while the rest 60 is given away to the private bodies as annuities, over 15 years, the performance-linked payments associated with it also ensures the longevity and performance of the programme.

The public sector programmes trying to rejuvenate the Ganges had failed when this program was initiated, a World Bank blog post mentioned. Under an innovative PPP mechanism, the government then invited the private sector players for the municipal wastewater treatment.

The project took off in 2015 when 2030WRG started collaborating with Ministry of Water Resources, River Development, and Ganga Rejuvenation (MOWR) to develop the PPP project and come up with wastewater solutions in the Ganges basin. Following this a demonstration project was carried out in Mathura and Vrindavan, to study the feasibility and scope of the project. The project in collaboration with the central and state government along with municipality and the stakeholder, collaborated with the local refinery to use the treated wastewater.

These projects eventually caused a paradigm shift in the mindset of the governing bodies towards the Public Private Partnership.

The first three wastewater treatment plants under the PPP were planned in early 2017, in Mathura, Haridwar and Varanasi under the flagship Clean Ganga program. Apart from the World Bank, IFC was retained as the Transaction Advisor, by the government. Two concession agreements for the project were signed in October 2017, while the last one was signed in June 2018. More PPP projects have also been sanctioned by the government, which not only prioritise wastewater treatment and reuse, but also water efficiency .

 

[lemurian]

https://www.thehindubusinessline.co...cturing-capacity-in-india/article25734512.ece

Vivo to invest Rs 4,000 cr to expand manufacturing capacity in India

Chinese handset maker Vivo said it will set up a new manufacturing facility in Uttar Pradesh as well as invest Rs 4,000 crore over a period of four years.

The company, which competes with the likes of Samsung and Xiaomi in the Indian market, has acquired 169-acre land in the Yamuna Expressway region on the outskirts of the national capital.

The new land has been acquired near Vivo’s existing 50-acre manufacturing facility (in Greater Noida, UP), and it will help expand the company’s manufacturing capabilities and support its growth in India, a statement said.

“Vivo entered India in 2014 with a commitment to bring product innovation, focus and value to our consumers. India is a key market for us, and today we have reiterated our commitment by entering the next phase of growth in India,” Vivo India Director-Brand Strategy Nipun Marya said.

The new plant will offer a major benefit to the surrounding area through high-quality job creation and training opportunities, he added.

All Vivo smartphones sold in the country are manufactured at the Greater Noida facility, which is one of Vivo’s four manufacturing facilities globally.

The existing manufacturing set-up, which saw an investment of Rs 300 crore, functions at a capacity of 2 million units per month with more than 5,000 employees.

Vivo expects to generate 5,000 additional jobs in the first phase of expansion, the statement said.

During this phase, Vivo also plans to double the current production capacity to 50 million units per annum, it added.

India is one of the world’s largest smartphone markets and growing steadily. Smartphone shipments in India touched an all-time high of 42.6 million units in July-September 2018 quarter, registering an year-on-year growth of 9.1 per cent, according to the research firm IDC.

This is the first time when the smartphone market is at par with the feature phone market with each segment contributing 50 per cent to the overall mobile phone market.

Xiaomi led the smartphone tally with shipment of 11.7 million units and 27.3 per cent market share, followed by Samsung 9.6 million units (22.6 per cent share), Vivo 4.5 million units (10.5 per cent share), Micromax 2.9 million units (6.9 per cent share) and Oppo 2.9 million units (6.7 per cent share).

 

[lemurian]

https://inc42.com/buzz/everstone-glp-launch-500-mn-investment-arm-for-indias-logistics-sector/

Everstone, GLP To Invest $500 Mn In India’s Logistics Sector

South East Asia and India-focused private equity firm Everstone is set invest $500 Mn (INR 3,577.5 Cr) in the logistics sector along with global logistics company GLP.

The investment will focus on different sectors, including express-delivery, smart trucks, telematics and automation/robotics, the company said.

GLP entered the India market in September this year through a joint venture with Everstone-backed industrial real estate firm IndoSpace. IndoSpace has over $2 Bn (INR 14,307 Cr) in assets under management and has plans to build out a pipeline of approximately 120 Mn sq ft of modern logistics infrastructure.

Demand for logistics facilities in India is driven by economic expansion, growth in organized retail and ecommerce and the modernization of India’s supply chain, underpinned by favorable government policies, such as the Goods and Services Tax and the ‘Make in India’ initiative, Everstone said.

The new partnership will leverage GLP’s expertise in pioneering modern logistics ecosystems and Everstone’s large and growing network through its private equity, infrastructure and real estate portfolio.

Both Everstone and GLP will reportedly bring in $250 Mn (INR 1,790.83 Cr) to the deal.

India’s Logistics Sector Booms
Venture capital firms and investors are looking at the logistics sector with renewed interest this year as India’s retail consumption continues to grow.

In November, reports said that that SoftBank, through its Vision Fund, may invest an estimated $350 Mn (INR 2,507.36 Cr) as fresh capital in Gurugram-based ecommerce logistics company Delhivery. If finalized, the funding will push Delhivery into the unicorn club.

The government’s Economic Survey 2017-18 revealed that the country’s logistics industry, which is worth around $160 Bn, is likely to touch $215 Bn in the next two years with the implementation of GST, growing at a CAGR of 10.5%

Here are a few statistics about India’s logistics industry:

• According to a report by investment bank Avendus Capital, the logistics tech market is expected to surge to $9.6 Bn by 2020
• The World Bank’s 2016 Logistics Performance Index shows that India jumped to 35th rank in 2016 from 54th rank in 2014, in terms of overall logistics performance
• The industry is expected to touch $307 Bn by 2020
• Inc42 DataLabs revealed that the sector recorded 27 deals worth $475.83 Mn (INR 3,402.85 Cr)in 2017

 

[Nilgiri]

https://www.thehindubusinessline.co...cturing-capacity-in-india/article25734512.ece

Vivo to invest Rs 4,000 cr to expand manufacturing capacity in India

Chinese handset maker Vivo said it will set up a new manufacturing facility in Uttar Pradesh as well as invest Rs 4,000 crore over a period of four years.

The company, which competes with the likes of Samsung and Xiaomi in the Indian market, has acquired 169-acre land in the Yamuna Expressway region on the outskirts of the national capital.

The new land has been acquired near Vivo’s existing 50-acre manufacturing facility (in Greater Noida, UP), and it will help expand the company’s manufacturing capabilities and support its growth in India, a statement said.

“Vivo entered India in 2014 with a commitment to bring product innovation, focus and value to our consumers. India is a key market for us, and today we have reiterated our commitment by entering the next phase of growth in India,” Vivo India Director-Brand Strategy Nipun Marya said.

The new plant will offer a major benefit to the surrounding area through high-quality job creation and training opportunities, he added.

All Vivo smartphones sold in the country are manufactured at the Greater Noida facility, which is one of Vivo’s four manufacturing facilities globally.

The existing manufacturing set-up, which saw an investment of Rs 300 crore, functions at a capacity of 2 million units per month with more than 5,000 employees.

Vivo expects to generate 5,000 additional jobs in the first phase of expansion, the statement said.

During this phase, Vivo also plans to double the current production capacity to 50 million units per annum, it added.

India is one of the world’s largest smartphone markets and growing steadily. Smartphone shipments in India touched an all-time high of 42.6 million units in July-September 2018 quarter, registering an year-on-year growth of 9.1 per cent, according to the research firm IDC.

This is the first time when the smartphone market is at par with the feature phone market with each segment contributing 50 per cent to the overall mobile phone market.

Xiaomi led the smartphone tally with shipment of 11.7 million units and 27.3 per cent market share, followed by Samsung 9.6 million units (22.6 per cent share), Vivo 4.5 million units (10.5 per cent share), Micromax 2.9 million units (6.9 per cent share) and Oppo 2.9 million units (6.7 per cent share).

@Two @GeraltofRivia @rott @Chinese-Dragon @long_

 

[lemurian]

https://www.cnbctv18.com/market/dat...ial-intelligence-jobs-says-report-1684561.htm

India ranked 5th in world on number of artificial intelligence jobs, says report

>India stands 5th in the world when it comes to recruiting Artificial Intelligence (AI) and Machine Learning (ML)
>Bangalore ranks 10th among cities with highest AI jobs

India stands fifth in the world when it comes to recruiting in Artificial Intelligence (AI) and Machine Learning (ML), revealed a research by UiPath, a robotic process automation company.

The top two AI recruiters are China and USA with 12,113 and 7,465 jobs respectively, followed by Japan and UK. In India, there are 1,326 AI jobs available.

UiPath came up with this ranking by analysing 30,000 job listings from 15 industry-leading countries, retrieving any role that requires either skill or training in AI or ML, or any role within a company that specialises in AI or ML.

Despite being the fifth highest recruiter of AI jobs, it fares much worse when it comes to AI jobs (per million of their working-age population), the research said.

In India, there are 1.5 AI jobs per million working population and only Hungary, ranks lower than India among 15 countries analysed. Japan tops the chart with 44.7 AI jobs per million population, followed by Israel and UK.

The AI industry is expected to contribute an additional $15.7 trillion to the global GDP by 2030 as global competition is increasing to attract the best talent and investment in the best-positioned companies.

Among cities, Suzhou and Shanghai from China tops the chart with the highest number of AI jobs, 3,329 and 1,624 AI jobs respectively. They are followed by Tokyo, Japan (1,258 AI jobs).

China dominates the list with eight cities out of top 15. India's IT capital, Bengaluru is ranked 10th in list, with 566 people employed in AI jobs.

 

[lemurian]

https://www.financialexpress.com/in...ake-these-advanced-uavs-in-hyderabad/1414399/

Adani Defence and Aerospace, part of Adani group and Israel-based Elbit Systems, inaugurated the Adani Elbit Unmanned Aerial Vehicles (UAV) manufacturing facility in Hyderabad.

The facility is touted to be the first private UAV manufacturing unit in India and the first one outside Israel to make Hermes UAV. The 50,000-sq ft modern facility will manufacture the Hermes 900 Medium Altitude Long Endurance UAV.

The factory shall start manufacturing of complete carbon composite aero-structures for Hermes 900, followed by Hermes 450, catering to the global markets and will be further ramped up for the assembly and integration of complete UAVs.

“Our foray into defence and aerospace is a critical milestone for the trusted and strategic relationship between India and Israel. This joint venture facility for the manufacturing of UAV is a testament to Elbit’s commitment to the Make in India programme,’’ Pavan Adani, director, Adani Enterprises, said.

Ashish Rajvanshi, head, Adani Defence and Aerospace, said the first phase of investment was around $15 million which would be doubled with export orders increasing over a period of time. “The UAV facility would be upgraded to manufacture high-end helicopter gears by next year and is looking at India as a manufacturing hub for orders from across the globe.’’

“In this facility, Hermes 900 and the Hermes 450 – the most advanced UAV systems in the world – will be manufactured and is in line with the Indian government’s strategic plan and enables us to share our extensive experience in defence systems and benefit from the dedicated Indian workforce. Adani Group has a long history of entrepreneurship, spanning through decades of dynamic growth,’’ Bezhalel Machilis, president and chief executive officer, Elbit Systems, said. Initially, the company will manufacture the entire fuselage of the Hermes 900 UAV which will be exported to Israel for fitment of sensors and avionics.
Along with the Adani Elbit UAV Complex, the Adani Aerospace Park was also inaugurated for creating an ecosystem for defence manufacturing in Hyderabad.

The company is hopeful of a vibrant defence manufacturing ecosystem which they have developed by investing in medium and small enterprises in India. Adani Defence and Aerospace has amalgamated an integrated solution with heterogeneous capabilities through its global partners and the ministry of micro, small and medium enterprises (MSMEs) in India, including Comprotech, AutoTEC, Alpha Tocol and Alpha Design Technologies.

These firms have supported the Indian defence ecosystem and Indian armed forces for decades and have been suppliers to Hindustan Aeronautics, Bharat Dynamics, Bharat Electronics and global original equipment manufacturers for decades.

Elbit Systems is in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance, unmanned aircraft systems, advanced electro-optics, electro-optic space systems. The firm also focuses on the upgrading of existing platforms, developing new technologies for defence and providing a range of support services.

 

[lemurian]

https://www.moneycontrol.com/news/b...vest-rs-1000-crore-in-pune-plant-3295651.html

SANY India to invest Rs 1,000 crore in Pune plant
The company produces a range of construction equipment for earth moving, mining, roads and highways, hoisting solution (cranes) and concrete equipment at its only plant in Pune.

Construction machinery maker SANY India will invest Rs 1,000 crore to ramp up production capacity at its Pune facility, a senior company official has said. SANY India is the Indian arm of Beijing-headquartered SANY Group.

The company produces a range of construction equipment for earth moving, mining, roads and highways, hoisting solution (cranes) and concrete equipment at its only plant in Pune.

"Our facility in Pune, Maharashtra is spread across 80 acre with a manufacturing capacity of 6,000 machines. With current space available at Pune we just need to expand our manufacturing. SANY India will invest an amount of Rs 1,000 crore to scale up its construction machinery production capacity in India to 25,000 units," Deepak Garg, CEO, SANY Group, India and South Asia said.

The investment will be done in a phased manner over next five years, he said.

"The money will be spent on expansion of products like excavators, concrete equipment, cranes, road machinery, piling machinery etc," the CEO said.

 

[lemurian]

https://www.livemint.com/Money/KMiO...household-savings-as-tax-rates-came-down.html

GST led to ‘household savings’ as tax rates came down: Report

An analysis of household expenditure pre and post GST rollout shows tax rates have come down on as many as 83 items including on food and beverages as well as daily use goods like hair oil, toothpaste, soap, washing powder and footwear

New Delhi: An average Indian household is saving up to Rs 320 every month on purchase of commonly used goods including cereals, edible oil and cosmetics post GST implementation, a finance ministry source said citing an analysis of consumer expenditure data. The government rolled out the Goods and Services Tax (GST) on July 1, 2017, amalgamating 17 different central and state taxes including excise duty and sales tax or VAT.

The GST not just made India one market by levying uniform tax rates on goods and services, it also did away with tax-on-tax prevalent in the previous system.

Also, GST rates have been lowered on an array of commonly used goods and services which resulted in monthly savings for consumers, the source said.

An analysis of household expenditure pre and post GST rollout shows tax rates have come down on as many as 83 items including on food and beverages as well as daily use goods like hair oil, toothpaste, soap, washing powder and footwear.

If a household spends Rs 8,400 a month post GST on 10 goods -- cereals, edible oil, sugar, chocolates, namkeen and sweets, cosmetics and toiletries, washing powder, tiles, furniture and coir products and other household products -- its monthly savings would come to Rs 320, the source said referring to the expenditure analysis.

On a monthly spending of Rs 8,400 on these regular use items, the tax paid under GST is Rs 510. This compares to Rs 830 tax charged previously, resulting in a saving of Rs 320.

In the old system, the central government would levy excise duty when a good is produced in a factory and the state governments would charge VAT on top of this. This meant that consumer not just paid VAT on the basic price of the good but also on the excise duty charged by the centre.

With the introduction of the new indirect tax, that pattern has been eliminated. The GST is levied at the consumption end or when the final consumer buys the product or service.

The source said an array of goods including milk powder, curd, buttermilk, spices, wheat, rice, nutrition drinks like Horlicks/Bournvita, pasta, idli dosa batter and mineral water are taxed at lesser rate under the GST than previously.

Household goods of daily use like curry paste, tooth powder and paste, hair oil, soap, cosmetics and perfumes, detergents, butter bans, sanitary ware and footwear too attract lesser tax now.

The source said that wheat and rice have been exempt from tax under the GST as against 2.50-2.75 per cent tax incidence previously. Similarly, tax on milk power is down to 5 per cent from previous 6 per cent.

Similarly, sugar confectionary is taxed at 18 per cent post GST, as against 21 per cent in the earlier indirect tax regime. The tax rate on sugar and edible oil has come down to 5 per cent under the new tax system, from 6 per cent earlier. Also namkeens and sweets are now taxed at 5 per cent, as against 12 per cent/7 per cent earlier. Also tax rate on washing powder and tiles has come down to 18 per cent from 28 per cent earlier. In case of furniture, 5/18 per cent GST is applicable on various kinds of products, while in the earlier regime the tax rate was 12/28 per cent.

 

[lemurian]

https://e27.co/mark-zuckerberg-backed-edtech-startup-byjus-raises-us540m-in-fresh-funding-20181217/

Mark Zuckerberg-backed edtech startup Byju's raises US$540M in fresh funding
This deal brings the Bangalore-based company's valuation to US$3.6 billion

Byju’s, the most popular edtech startup in India, has scored US$540 million as part of a mammoth funding round led by South African internet conglomerate Naspers Group.

Also joining the round are the Canada Pension Plan Investment Board (CPPIB) and private equity giant General Atlantic.

This deal brings the Bangalore-based company’s valuation to US$3.6 billion.

Byju’s will use the fresh capital to build new products and also aggressively expand in international markets.

“India has the largest school-age population in the world and Indian households are willing to invest a lot in their children’s education because a good education is the best path to success. I believe the importance of quality education amongst the entire population in India fuelled our ability to create an engaging and high-impact learning app,” Byju’s Founder and CEO Byju Raveendran said in a statement.

“While near-term profitability is important for us, as a company our main focus continues to be on long-term sustainable growth. The edtech industry is undergoing massive shifts; students today want to learn through engaging and interactive methods. We are pioneering ‘better learning for tomorrow’ with technology as an enabler, and have been working towards making students active learners. It is only through active learning that we can prepare our youth for the jobs of tomorrow,” he added.

Launched in 2015, Byju’s is a creator of K-12 learning app which offers adaptive, engaging and effective learning programmes for students in classes 4-12 (K-12) and competitive exams like JEE, NEET, CAT, IAS, GRE and GMAT. The app creates personalised learning programmes for individual students based on their proficiency levels and capabilities which help them learn at their own pace and style.

The learning app makes learning contextual and visual, and not just theoretical.

In July Byju’s raised an undisclosed investment from Chinese internet giant Tencent Holdings. A few days before this development, Byju’s acquired TutorVista and Edurite from British multinational publishing and education company Pearson Plc. Early that year, the edtech firm raised nearly US$30 million funding from Verlinvest, a Belgian investment company and investor in Southeast Asian e-commerce company Lazada.

Previously, Byju’s has secured US$50 million, co-led by Chan Zuckerberg Initiative (CZI) — a fund launched by Facebook Founder Mark Zuckerberg and Dr. Priscilla Chan. This funding came less than six months after it secured US$75 million from Sequoia Capital and Sofina.

 

[lemurian]

https://timesofindia.indiatimes.com...ical-treatments-govt/articleshow/67131019.cms

India sees 16% jump in foreign tourist arrivals for Medical Treatments

NEW DELHI: There has been a 16 per cent growth in foreign tourist arrivals for medical treatments in 2017, the ministry of tourism informed Parliament Monday. Replying to a query in Lok Sabha, tourism minister KJ Alphons said foreign tourist arrivals in India on medical visa during 2016 and 2017 were estimated at 4,27,014 and 4,95,056 respectively, registering a positive growth of 15.9 per cent.

"Medical tourism holds immense potential for India. The Indian systems of medicines, viz Ayurveda, Yoga, Panchakarma, Rejuvenation Therapy, etc, are among the most ancient systems of medical treatment in the world. India can provide medical and health care of international standards at low costs," Alphons said. He added, "India excels in the state of the art medical facilities, reputed health care professionals, quality nursing facilities and traditional healthcare therapies."

Asserting that the government is taking various steps for promoting medical tourism, Alphons said that India conducted road shows, 'Know India' seminars and also made a film which was aired in the Middle East and North African markets. The government had earlier said that the value of medical tourism in India is likely to reach a whopping $9 billion by 2020 as compared to $3 billion in 2015.

 

[lemurian]

http://3dprintingindustry.com/news/...-printing-facility-in-ap-medtech-zone-145693/

Indian 3D printing service bureau, think3D, has opened a new 3D printing facility for medical device manufacturing. The facility is located in the AP MedTech Zone, a manufacturing park for medical equipment in the Indian state of Andhra Pradesh.

The Chief Minister of Andhra Pradesh, Nara Chandrababu Naidu inaugurated the new 3D printing center.

AP MedTech Zone manufacturing park
The AP MedTech Zone has been in development since 2016 and think3D has been an active part of this project. The park, under construction in the city of Visakhapatnam, covers an area of 270 acres and is planned to be built in two phases.

Recently, the opening of the first phase of the park was announced. In phase 1, eighty companies will take part to manufacture medical equipment and by the end of phase 2, over two hundred companies will have joined the program.

India is the fourth largest market in Asia for medical devices. However, this market is largely import-based and the country imports over 80% of medical devices.

According to the technology cluster Make in India (a supporter of the AP MedTech Zone project), “THE MEDICAL DEVICES INDUSTRY IN INDIA IS PRESENTLY VALUED AT USD 5.2 BILLION AND CONTRIBUTES 4-5% TO THE USD 96.7 BILLION INDIAN HEALTH CARE INDUSTRY.”

It is hoped that the opening of the AP MedTech Zone and think3D’s new facility will establish India as a major producer and exporter of medical devices.

The co-founder of think3D, Raja Sekhar Upputuri, said, “Medical device manufacturing requires huge up-front investment in R&D, machinery and QC facilities … the government has decided to set-up these common facilities in partnership with private entities and offer these facilities to manufacturers within park on pay per use basis thus reducing the upfront investment from manufacturer cost drastically. 3D printing & 3D design facility is chosen as one such common facility.”

3D printing medical devices
Think3D’s new operation will provide a range of on-site 3D printing and manufacturing services, including 3D scanning, 3D printing, CNC and molding techniques.

Currently, the facility houses various 3D printing technologies, such as the HP 4200, a Multi Jet Fusion system, EOS FORMIGA P110 SLS printer, and EOS M 290 metal 3D printer. 3D printers from Stratasys and 3D Systems are also available at the center.

Prudhvi Reddy, Director at think3D, said, “This facility will be used for prototype and batch production of parts for medical devices like MRI, ECG, Ultrasound machines and so on. Once these parts are manufactured, they shall undergo various tests in the biomaterial testing lab present in the park and thereafter these parts will be assembled and send to Gamma Irradiation Facility present inside the park for sterilization. This way, a complete ecosystem for product development, manufacturing, testing is available in the facility.”

The facility will be fully operational by 1 January 2019.