INDIA | Pixr8 News

11Feb By AnkitaNo Comments

INDIA

India found 5.9 million tones of Lithium, Crucial for future growth

The Geological survey of India team found 5.9 million tones of lithium reserves in Jammu and Kashmir region of India, the total quantity of lithium found surpasses China. Lithium is a non-ferrous metal and is one of the key components for electric vehicle, mobile, laptop batteries etc. Lithium falls in the critical resource category which was not earlier available in India and were dependent for its 100 percent import. The G3 (advanced) study of the GSI shows the presence of best quality lithium in abundant quantity in the foothills of Mata Vaishno Devi shrine at Salal village (Reasi). The normal grade of lithium is 220 parts per million (PPM), the lithium found in J&K is of 500 ppm-plus grading, and with a stockpile of 5.9 million tons, India will surpass China in its availa...

30Nov By NitishNo Comments

INDIA

India Can Beat Global Recession

Even though the US and the Euro zone are headed to recession, 1.5 billion people country India is unlikely to face the impact given the "not so coupled" nature of its economy with the global economy. "Indian economy is a lot decoupled from the global economy than we normally think of, given its large domestic demand, even though you (India) are a net importer of energy. But you have enough forex reserves on one hand and your companies have managed to maintain healthy balance sheets," Paul F Gruenwald, S&P global chief economist and managing director said. In fact, India was never coupled fully with the global economy and so is relatively independent of global markets, he said, adding that a lot depends on how global fund flows behave if there is a recession in the US and Europe....

8Nov By AnkitaNo Comments

INDIA

India made drug 2DG can reduce heart damage caused by Coronavirus

Washington, Nov 8, 2022: 2DG, a drug developed by the Indian defence unit Defence Research and Development Organisation (DRDO) may reverse the heart damage caused by a protein in the SARS-CoV-2 virus, a study conducted in fruit flies and mice has found. Researchers from the University of Maryland identified how a specific protein in SARS-CoV-2, the virus responsible for COVID-19, damages heart tissue. They then used the drug, called 2DG, to reverse the toxic effects of that protein on the heart. Developed by Dr Reddy's Laboratories in collaboration with DRDO, 2DG is an oral drug. The SARS-CoV-2 virus depends upon glycolysis or breakdown of glucose for energy. The drug hinders the process of glycolysis and prevents the growth of the virus. "Our research shows that individual SARS-...

15Feb By PriyankaNo Comments

INDIA

Now India will produce Semiconductor Chips, Vedanta joins hands with Foxconn

New Delhi, 15th Feb 2022: Indian conglomerate Vedanta has signed a pact with electronics manufacturing services giant Foxconn to form a joint venture (JV) for manufacturing semiconductors in India. Vedanta is the first company to make the announcement to invest in semiconductor manufacturing after the government announced a Rs 76,000-crore programme to boost electronic chip and display ecosystem in the country. "According to the MoU (memorandum of understanding) signed between the two companies, Vedanta will hold the majority equity in the JV, while Foxconn will be the minority shareholder," the statement said. It added that Vedanta Chairman Anil Agarwal will be the chairman of the joint venture. The targeted project plans to invest in manufacturing semiconductors. "It will pr...

25Aug By PriyankaNo Comments

INDIA

India needs 2 Million Cloud Engineers by 2025

India has the potential to become the world's second-largest cloud talent hub with the combined effort of government bodies, education and skilling organizations, and technology providers, IT industry body Nasscom said on Monday. Nasscom, in association with Draup, said in a report that India currently ranks third globally with an installed talent pool of 608,000 (FY2021) cloud professionals. "By 2025, India would have an estimated 1.4-1.5 million cloud professionals (baseline growth). However, with an estimated demand for over 2 million professionals by 2025, India could reach 1.7-1.8 million cloud talent pool with a fairly aggressive skilling roadmap," the report titled 'Cloud Skills: Powering India's Digital DNA' said. Tata Consultancy Services (TCS) and Accenture were strateg...

24Aug By PriyankaNo Comments

INDIA

India beats Pandemic, created 53 Unicorns in 2021

Indian startups received about $6.5 billion in funding in the April-June 2021 quarter, while 11 of them entered the coveted unicorn club, a report by Nasscom-PGA Labs said. During the second quarter, 160 funding deals were closed up 2% from the January-March period. "Q2 2021 has been impeccable for the start-up growth story. From being the most funded quarter, it has also added the most number of unicorns. Standing tall during the pandemic second wave headwinds, the Indian start-up ecosystem has shown strong resilience in this quarter," the report said. Funding raised in the June quarter was at $6.5 billion, up by 71% quarter-on-quarter. The biggest deal during the quarter was the $ 800 million fundraisings by food delivery platform Swiggy, followed by ShareChat ($502 million)...

6Apr By reutersNo Comments

INDIA

India court says ByteDance should deposit $11 million in tax evasion case

Mumbai, 04/07/2021: An Indian court on Tuesday said China's ByteDance must deposit around $11 million that federal authorities believe the company owes in an alleged case of tax evasion, a setback for the firm which wanted to unblock its bank accounts to pay salaries. An Indian tax intelligence agency in mid-March ordered HSBC and Citibank in Mumbai to freeze accounts of ByteDance India as it probed some of the firm's financial dealings. ByteDance challenged the move in court saying the freeze amounted to harassment and was done illegally. ByteDance has said in court it does not owe the tax government is demanding and does not agree with the tax authority's decision to freeze its accounts. After a government counsel said ByteDance owed the authorities about 790 million rupees ($1...

5Mar By reutersNo Comments

INDIA

India woos Tesla with offer of cheaper production costs than China

India is ready to offer incentives to ensure Tesla Inc's cost of production would be less than in China if the carmaker commits to making its electric vehicles in the south Asian country, transport minister Nitin Gadkari told Reuters. Nitin Gadkari's pitch comes weeks after billionaire Elon Musk's Tesla registered a company in India in a step towards entering the country, possibly as soon as mid-2021. Sources familiar with the matter have said Tesla plans to start by importing and selling its Model 3 electric sedan in India. "Rather than assembling (the cars) in India they should make the entire product in the country by hiring local vendors. Then we can give higher concessions," Gadkari said in an interview, without giving details of what incentives would be on offer. "The gover...

1Mar By AnkitaNo Comments

INDIA

Indian Fintech Companies Raises $2.7 billion in 2020

Mumbai, Feb 27th, 2020: Despite the pandemic-induced disruptions, venture capital funds pumped USD 2.7 billion into domestic fintech companies in 2020, the second-highest fund infusion into the sector since 2019 when it had peaked at USD 3.5 billion, according to a report. The biggest investments were into Bengaluru-based payments firm Navi Technologies at USD 397.9 million from angel funds, Noida-based Pine Labs attracted USD 300 million from private equity players, and Razorpay received USD 100 million from GIC of Singapore, Sequoia and others, making it a unicorn. As against this, global fintech investments stood at a whopping USD 105 billion across 2,861 deals in the year, the third-highest annual total ever, as per the data collated by KPMG India. Despite pandemic challenges...

8Feb By AdityaNo Comments

INDIA

How Does the Casino Industry in India Compare to Other Places on the Planet?

Gambling is becoming one of the fastest growing industries on the planet. It seems that every year more countries are climbing on board in legalizing the activity. This has resulted either out of a desire to curb illegal activity or to provide additional sources of revenue for the government. In some instances, it is a mixture of both. India has slowly warmed to the idea of gambling. While not legal across the entire country, there are regions within the nation where it is legal to gamble, either at a land-based facility or online. But how does that compare to other countries across the world? Online Growing Rapidly Like most countries who offer licenses for online casinos, India is seeing a rapid increase in the number of players signing up and playing at these sites. The ac...

5Feb By AnkitaNo Comments

INDIA

Paypal to shut down its India Operations

New Delhi, Feb 5, 2021: Digital payment solution provider Paypal will stop offering domestic payment services within India from April 1. The US-based company will instead focus on enabling more international sales for Indian businesses. 'We will continue to invest in product development that enables Indian businesses to reach nearly 350 million PayPal consumers worldwide, increase their sales internationally, and help the Indian economy return to growth, a PayPal spokesperson said. The company noted that it had processed USD 1.4 billion worth of international sales for over 3.6 lakh merchants in India last year. PayPal can have the greatest positive impact in India's economic recovery by pivoting its business to support customers where they need the company most, the spokesper...

19Jan By AdityaNo Comments

INDIA

How To Become A Successful Lottery Agent In India

The lottery is one of the most popular gambling games, mostly played by common people worldwide. Well, for a population as huge as India, inculcating a culture of playing the lottery would be an extravagant affair. Read on to stay ahead of the curve and claim your title as the biggest international lottery agent in India! The Mindset Before starting any business at all, you need to have the appropriate mindset of an entrepreneur. Perhaps the business world is a lot like the lottery itself - for every winner, there are hundreds of losers who let their dreams go when the going gets tough. You need to realize that you’ll probably have to invest a lot in your business - and not just your money! So keep at it and trust your plan! The Licensing Roadblocks Since the lottery is ...