VENDOR DEVELOPMENT PROGRAMMES FOR MSMEs

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The detail of State wise beneficiaries (Total 9,474 MSMEs) through the Vendor Development Programme (VDP) organized by the Development Institutions (DIs) during 2019-2023.

Vendor Development Programme is organized to facilitate market linkages for effective implementation of Public Procurement Policy. It benefits MSMEs in their GeM registration and detailed understanding of Public Procurement with CPSEs. During 2019-23, 7509 Micro Units, 1807 Small Units and 158 Medium Units participated in Vendor Development Programmes organized by MSME-Development and Facilitation Office’s (DFOs) in collaboration with CPSEs and other Government Departments.

Vendor Development Programmes through effective implementation of Public Procurement Policy has expanded the business of MSMEs. Ministry of MSME has notified the implementation of the Public Procurement Policy for Micro and Small Enterprises order, 2012 from 1st April, 2012 with the objective of promoting the growth and development of MSEs by improving their market access and linkages. This policy provides the following benefits to MSEs by the CPSUs:

(i)   Purchase Preference: Policy mandates 25% annual procurement from Micro and Small Enterprises (MSEs) by Central Ministries/ Departments/ Central Public Sector Undertakings (CPSUs), including 4% from MSEs owned by SC/ST and 3% from MSEs owned by Women entrepreneurs.

(ii) Price match-making facility: If the L1 price by a non-MSE is the lowest, participating MSEs quoting a price within a band of L1+15% will be allowed to bring down their price to match L1 price. Such MSEs are allowed to supply at least 25% of total tendered value. In case there is more than one such MSE, the supply will be shared proportionately (to tendered quantity). In case the tender item is non-splitable or non-divisible, an MSE quoting a price within the price band L1+15% may be awarded full or complete supply of total tendered value, if it matches the L1 price.

(iii)    Exemption from Earnest Money Deposit: MSEs are exempted from payment of earnest money deposit.

(iv)    Other Benefits: To reduce the transaction cost of doing business, MSEs are facilitated by providing them tender sets free of cost and adopting e-procurement to bring in transparency in tendering process.

The benefits listed at (i) to (iv) above are available only to Micro and Small Enterprises.

This information was given by Minister of State for Ministry of Micro, Small & Medium Enterprises, Sushri Shobha Karandlaje in a written reply in Rajya Sabha today.

Airbus A321XLR receives EASA type certification

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The Airbus A321XLR powered by CFM LEAP-1A engines has received its Type Certification from the European Union Aviation Safety Agency (EASA), preparing the way for the entry-into-service of the new aircraft at the end of the summer. The Type Certificate was handed over by Florian Guillermet, Executive Director of EASA to Isabelle Bloy, A321XLR Chief Engineer. Certification of the Pratt & Whitney engine version is slated for later in 2024.

“Here comes the A321XLR, a differentiated product that brings new value to the market, expanding the possibilities for our airline customers and passengers. With its long range, the A321XLR enables a host of new direct routes, offering natural growth opportunities to our customers and the travelling public. It provides airlines with the efficiency of commonality inside the A320/A321 product range and its versatile cabin a range of service possibilities that are just unique. It is quintessential Airbus!”, says Christian Scherer, CEO of the Commercial Aircraft business of Airbus. “With the certification, we have reached a key milestone. The next step is to prepare the aircraft for its first commercial missions with customers worldwide. We look forward to working with XLR customers to support the integration of the aircraft in their fleets.”

The A321XLR sits side by side with widebodies in an airline’s fleet. It introduces the flexibility to add capacity, to open new routes, or even to continue operating existing ones when demand is variable. All while burning 30% less fuel per seat than previous generation competitor aircraft, and at roughly half the trip cost of modern widebodies. The A321XLR’s new Airspace cabin will provide passengers long haul comfort in all classes.

The first A321XLR completed its maiden flight in June 2022. This was followed by an extensive test programme involving three test aircraft. So far more than 500 Airbus A321XLRs have been ordered.

Rolls-Royce and TCS Collaborate on Hydrogen Research Programme

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TCS, a global leader in IT services, consulting, and business solutions, has expanded its partnership with Rolls-Royce, a British multinational specializing in civil aerospace, defence aerospace, services and power systems, to advance its sustainable initiatives.

This collaboration involves research into hydrogen fuel system technology, continuing to prove hydrogen could be a zero-carbon aviation fuel of the future.

TCS, leveraging its expertise as a trusted service provider, will provide engineering skills and support to Rolls-Royce as it addresses three key challenges in the journey to enabling hydrogen for use in aviation: fuel combustion, fuel delivery, and fuel systems integration with an engine.

This partnership underscores TCS’s commitment to driving sustainable transformation across industries, aligning with its broader mission to harness technology for positive societal impact. The International Air Transport Association (IATA) has set ambitious targets for net zero carbon emissions by 2050, necessitating innovative sustainability solutions.

Alan Newby, Director, Research and Technology, Rolls-Royce, said, “We welcome TCS to our hydrogen research programme and their engineering skills will play a valuable role in addressing our technology goals. We’ve already made great progress and having TCS with us gives us additional capability as we move forward on our journey to enable the energy transition for the aviation sector.”

The partnership builds on a long-standing relationship between Rolls-Royce and the Tata Group, including engines and a strong supply chain commitment.

TCS has also been working with Rolls-Royce since 2010 in the areas of design, manufacturing engineering, control systems and software, after-market services as well as IT services.

Anupam Singhal, President – Manufacturing, TCS, said, “The partnership between TCS and Rolls-Royce is an exciting one that represents a powerful alliance in the quest for sustainable aviation solutions. We are aligned with Rolls-Royce’s ambition for a greener future. This partnership is the perfect opportunity to put our technological strengths and passion for the environment to use for advancing innovation and fostering an eco-friendlier aerospace sector.”

Regu Ayyaswamy, Senior Vice President and Global Head- Internet of Things and Digital Engineering, TCS, said, “TCS and Rolls-Royce have been partners in advancing engineering excellence for nearly a decade. The new partnership for research into hydrogen fuel systems represents a pivotal next step at a time when the aviation industry is faced with the urgent challenge of reducing carbon emissions while maintaining performance and efficiency.

Atal Innovation Mission and World Intellectual Property Organization sign a Letter of Intent towards building joint innovation programs in global south

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A high-level delegation from World Intellectual Property Organization (WIPO) comprising of Mr. Sherif Saadallah, Executive Director, WIPO Academy and Ms. Altaye Tedla, Head WIPO Academy visited NITI Aayog for signing of a Joint Letter of Intent (JLoI) between Atal Innovation Mission (AIM) and WIPO. The JLoI is aimed at building programs for Innovation, Entrepreneurship & Intellectual Property (IP) for countries in the Global South.

Shri Dharmendra Pradhan, Cabinet Minister for Education and Skill Development and Entrepreneurship in the Government of India graced the occasion with his presence. From NITI Aayog the dignitaries present included Shri Suman Bery, Vice Chairperson, NITI Aayog, Dr. V.K. Saraswat, Member NITI Aayog, and Dr. Chintan Vaishnav, Mission Director, Atal Innovation Mission.

Shri Dharmendra Pradhan Cabinet Minister for Education and Skill Development and Entrepreneurship, Government of India said “I am very pleased to see that India’s innovation ecosystem is going global. Innovation is India’s strength. This pathbreaking partnership between AIM and WIPO will take the best of India’s innovation models to countries that are on similar development trajectories, and will enhance understanding and awareness about IPR right from the school-level and unlock the innovation potential of the world as well as foster inclusive and sustainable economic growth.

Mr. Sherif Saadallah, Executive Director, WIPO Academy during his address said – “Intellectual property (IP) is a powerful catalyst for innovation and creativity, essential for addressing development of youth and achieving the Sustainable Development Goals. Our focus on youth is an integral part of our work to build a more inclusive global IP ecosystem, and our partnership with Atal Innovation Mission demonstrates WIPO’s commitment to ensure youth’s participation in innovation and creativity so that IP ecosystems are utilized by a wider demographic, fostering a more innovative and creative global economy.”

Last year, Mr. Daren Tang, Director General, WIPO had visited the AIM ecosystem and advocated for Atal Tinkering Labs (ATL) and Atal Incubation Centers (AIC) to be a good template for innovation and entrepreneurship through South-South cooperation. His observations prompted WIPO to invite Dr. Chintan Vaishnav, Mission Director AIM to showcase these flagship initiatives earlier this year in front of the member nations at the Committee on Development and Intellectual Property (CDIP) at the WIPO headquarters in Geneva, Switzerland. The agreement signed today has transpired from these conversations.

Speaking at the occasion, Shri Suman Bery Vice Chairperson, NITI Aayog said “WIPO’s recognition of India’s entrepreneurship development model is a proud moment for India and NITI Aayog which hosts the Mission. This deepens an already productive relationship between NITI Aayog and WIPO on national competitiveness”

As one of the specialized agency of the United Nations, WIPO is the nodal institution that releases the Global Innovation Index (GII) annually. As per the GII 2023 report, India had retained the 40th position of 132 economies featured in the GII ranking. As per WIPO Report 2022, India has experienced sixth straight year of growth in patent filing, posting the highest growth of 31.6% globally. Importantly, a substantial increase in resident filings was the main driver of growth overall in 2022.

Dr. V.K. Saraswat, Member NITI Aayog in his address underlined that, “In the last few years, India has made huge strides in its entrepreneurial journey in line with our international aspirations in this domain. This partnership between AIM and WIPO would help position India as a global leader in innovation, leveraging our vast talent pool and dynamic market to attract international investments. This partnership can be a game changer in fostering a culture of IP-led Innovation and hence safeguarding the future of our nation’s technological advancements.”

 

Introducing the World’s First Consent-Based Data-Sharing Framework Built on Open Standards: The Affinidi Iota Framework

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Affinidi, a Singapore-based data and identity management company, launched the Affinidi Iota Framework built on open standards at the WeAreDevelopers World Congress, Berlin, Germany. This innovative framework establishes a new way for individuals to share data by prioritising explicit consent, empowering individuals to selectively share specific data points with a clear understanding of their intended use.

In the traditional digital landscape, individuals often share sensitive data with third parties without transparency or control, leaving their data vulnerable to misuse, unauthorised access, and data breaches. A Twilio report shows that 60% of Asia Pacific consumers demand consent and communication on data use, while a PwC study reveals a trust gap, with only 30% of consumers trusting businesses. Existing solutions exacerbate these issues by collecting vast amounts of individuals’ data (essential/non-essential) and transferring it to back-end databases, burdening developers with managing large volumes of data and associated risks.

Affinidi’s Iota Framework disrupts this outdated model, pioneering a new era of data privacy and security. The Affinidi Iota Framework enables developers to request essential data points directly from individuals, with explicit consent, eliminating the need to collect and store non-essential information. This approach ensures individuals maintain control over their data, reducing storage burdens, and minimising risks associated with data collection and potential misuse. Affinidi equips developers with dev-friendly templates and robust tools, streamlining the setup of data-sharing processes. With our easy-to-use SDK, developers can navigate the complexities of identity, privacy, and security, building innovative solutions in just minutes.

The Affinidi Iota Framework revolutionises data exchange between businesses and individuals by adhering to strict consent-first principles, providing businesses with richer, more accurate data that enhances personalisation, and fosters market innovation and competitiveness. Roopesh Shah, Co-Founder and CTO of Gro Club, India’s first and largest bicycle subscription model that recently adopted Affinidi’s solution for seamless integration, shared, “We began with Affinidi Login to simplify access to individual data through a one-click onboarding process. But with the introduction of the Affinidi Iota Framework, we are thrilled to advance beyond efficient customer onboarding, laying the groundwork for a future where every interaction is precisely tailored to individual preferences based on accurate and consented data.”

Paytm Earnings release for the Quarter Ending June’24

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Paytm is India’s leading mobile payments and financial services distribution company. Pioneer of the mobile QR payments revolution in India, Paytm builds technologies that help small businesses with payments and commerce.

In Q1 FY 2025, the company reported a revenue of ₹1,502 Cr and EBITDA before ESOP of ₹(545) Cr.

Financial Highlights:

✨ Operating revenue of ₹1,502 Cr 

✨ Contribution profit of ₹755 Cr (margin of 50%)

✨ EBITDA before ESOP of ₹(545) Cr

✨ EBITDA of ₹(792) Cr

✨ Continued focus on cost reduction, employee cost has declined by 9% QoQ

✨ Revenue and profitability is expected to improve, driven by growth in operating parameters such as GMV, an expanding merchant base, recovery in loan distribution business and continued focus on cost optimization

✨ Strong balance sheet with ₹8,108 Cr of cash on books; also holding stock 

acquisition rights in PayPay Corporation (5.4% stake, once exercised) 

1. Payments Services: 

✨ Revenue from Payment services was ₹900 Cr 

✨ Net payment margin was ₹383 Cr, GMV of ₹4.3 Lakh Cr

✨ Merchant subscriber base for devices has reached 1.09 Cr as of June 2024

2. Financial Services: Revenue from financial services was ₹280 Cr

3. Marketing Services: Revenue from marketing services was ₹321 Cr

Inaugural Address & Fireside Chat with Governor, Shri Shaktikanta Das at FE Modern BFSI SUMMIT 2024

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Inaugural Address & Fireside Chat with Governor, Shri Shaktikanta Das at FE Modern BFSI SUMMIT 2024.

Watch RBI governor at FE’s BFSI summit.

During the BFSI Summit 2024, Ajay Parimal remarked, “Our country has a very weak bond market. India’s corporate bond market is significantly smaller compared to other countries, with corporate debt comprising just 16% of GDP.”

 

 

 

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IREDA to Invest Rs. 290 Crore in Nepal 900 MW Hydro Projects

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Indian Renewable Energy Development Agency Limited (IREDA) has decided to invest in a 900 MW Hydroelectric power project in Nepal. Approximately Rs. 290 Crore investment will secure IREDA ,up to 10% shareholding in GMR Upper Karnali Hydro Power Limited, Nepal and Karnali Transmission Company Pvt. Ltd., Nepal.

This strategic move, in collaboration with SJVN Limited, aims to support the setting up of the 900 MW Upper Karnali Hydro-Electric Power Project in Nepal. The project will proceed subject to approval from the Government of India and other regulatory authorities. The Board of Directors of IREDA in its meeting held yesterday gave in-principle approval for this equity investment.

Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, said, “This strategic investment aligns with our commitment to expanding renewable energy infrastructure and fostering international collaboration in the sector.

The 900 MW project is a significant step towards harnessing Hydropower potential in Nepal, contributing to regional energy security and sustainable development.”

GMR and the Nepal Electricity Authority, Government of Nepal, are the existing shareholders in M/s. GMR Upper Karnali Hydro Power Limited, Nepal. The inclusion of IREDA and SJVN Limited in the project underscores a strong regional collaboration aimed at enhancing renewable energy capacity and ensuring energy independence