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Tag: #news

  • Blinkit Introduces GST Invoicing as a New Feature for Businesses

    Businesses can now enter their GSTIN (Goods and Services Tax Identification Number) while making purchases on the Blinkit platform, thanks to a new feature. Albinder Dhindsa, the CEO, claims that this change is a reaction to consumer demand, especially from companies buying expensive goods like electronics. Businesses can now claim up to 28% in GST input credits for their purchases, thanks to the introduction of GST invoicing.

    With the new feature, users may now enter their GSTIN directly into the Blinkit app and receive invoices that are GST-compliant. This is particularly crucial for companies that wish to use GST input credits to reduce overall expenses. For instance, if a business makes purchases at the 28% GST rate, it can claim a portion of those purchases as input credit.

    What is GSTIN?

    Each taxpayer (GST-registered business, firm, dealer, supplier, or business entity) receives a 15-digit unique identification number known as the Goods & Services Tax Identification Number, or GSTIN, after registering under the GST regime in India.

    Every company operating in a state or Union territory receives a unique PAN, state information, and a Goods and Services Tax Identification Number (GSTIN). Businesses and individuals must register with the state government and get a unique 15-digit GSTIN in accordance with the GST Act of 2017. Several GST-related processes, including filing returns, claiming input tax credits, and making tax payments, require the GSTIN Number.

    How New GST Invoicing Will Work in Blinkit?

    Upon checking out, customers will be presented with the option to
    “Add GSTIN.”

    A GST-compliant invoice is created for the transaction as soon as the
    GSTIN is added.

    The buyer’s GST input credit, which may reach up to 28% depending on
    the product category, is shown on the invoice.

     People’s Reaction

    The founder of Blinkit, Albinder Dhindsa, recently announced on LinkedIn the introduction of a new tool that enables companies to include their GSTIN while making transactions. The new feature responds to the increasing need for GST-compliant invoices among Blinkit’s business clients, which are essential for making decisions, especially for expensive transactions.

    Users responded enthusiastically to the news, praising the company’s recent launch. A significant turning point in Blinkit’s development, Dhindsa’s action solidifies the platform’s position as a major force in the B2B market. An enthusiastic user left a comment on the post, saying, “That’s great news! Adding a GSTIN is a useful feature, particularly for companies making expensive purchases. It will undoubtedly streamline the invoicing process and make it easier for customers to obtain tax benefits. I’ll try it out and let you know what I think shortly. Thank you for putting the needs of your customers first.”

    The declaration by Dhindsa shows the company’s intention to meet the needs of its business clients, many of whom depend on GST-compliant invoices for accounting accuracy and tax advantages. He urged users to give the function a try and report back.

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  • To Facilitate Restructuring, WazirX will Establish a Committee of Creditors

    In an effort to support the company’s restructuring efforts in the wake of the $234.9 million cryptocurrency theft, WazirX said on October 2 that it was in the process of establishing a Committee of Creditors (COC). According to a blog post, the committee will be made up of ten COC members, whose identities would be kept secret from the credit base. 

    In addition to advocating for creditors’ interests, the members will be in charge of keeping an eye on the restructuring’s advancement and reporting back to the corporation on creditor preferences and priorities. The company and its advisors anticipate sending emails to creditors on October 3 in order to finish Phase 1—the creation of a contingent creditor pool—according to the blog post. By October 7, these creditors have the opportunity to express their desire to join the COC. Phase 2—the prospective COC member pool—will be finished by October 8; on October 9, the committee will be established. 

    Security Breach Resulting in Revamping

    After its Safe Multisig wallet experienced a security issue in July, WazirX temporarily stopped accepting withdrawals. It stated that assets valued at $234.9 million had been moved to an unidentified place. Up to 66% of users’ INR holdings will soon be available for withdrawal, according to a statement made by WazirX in August. 

    Zettai Pte Ltd, the parent company of Zanmai Labs, which runs WazirX in India, filed a request for a moratorium under Section 64 of the Insolvency, Restructuring, and Dissolution Act, 2018 with the High Court of Singapore in September. Last week, the company was given a four-month respite by the court, which enabled it to initiate a restructuring procedure and reimburse a portion of the monies to the impacted users. 

    During a town hall meeting for journalists last month, the business stated that it is exploring several options, including partnerships and collaborations, in response to the cyberattack. It refuses to provide further details, though.

    About WazirX

    WazirX has developed beyond being just a digital asset trading platform since its founding in 2018. The path has been driven by enthusiasm, determination, and a desire to provide all Indians with democratised access to cryptocurrency. WazirX claims to be the market leader in terms of transaction volumes, boasting a listing of over 350 cryptos and tokens and over 16 million users. This solidifies WazirX’s position as a reliable leader in the nation’s cryptocurrency market.

    According to WazirX, its goal is to put India at the forefront of the cryptocurrency revolution. The company always innovates to create the safest, most dependable, and most intuitive platform possible. Additionally, it is committed to building a regulated ecosystem and boosting credibility and confidence in the bitcoin space.

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  • Data Lake, Delta Lake, or Data Mesh? Choosing the Right Architecture for Your Organization’s Needs

    For organizations to efficiently manage, analyse, and use their data in the data-driven landscape, the appropriate architecture must be selected. Businesses are switching from traditional data warehouses to more contemporary architectures like Data Lake, Delta Lake, and Data Mesh in response to the growing need for real-time insights, cost-effectiveness, and regulatory compliance. An organization’s unique requirements, industry standards, and technology infrastructure all play a role in choosing the best framework.

    A data lake is a central repository that stores structured and unstructured data at any scale. It gives businesses the flexibility to use analytics and AI applications by allowing them to ingest raw data from various sources. However, data lakes often face challenges related to data governance, quality, and latency, which can impact performance.

    Delta Lake builds on the concept of a data lake but introduces features like ACID transactions, schema enforcement, and improved data reliability. For industries needing high data accuracy and low-latency decision-making, it is perfect because it allows for faster data processing and real-time analytics.

    Data Mesh decentralizes data ownership, distributing responsibility to domain-specific teams. It promotes interoperability, self-service analytics, and scalability, making it suitable for large enterprises looking to enhance cross-functional collaboration while maintaining data governance.

    A specialist in healthcare data architecture, Hari Prasad Bomma has created and executed scalable frameworks that maximize Data Lake, Delta Lake, and Data Mesh configurations. He has improved AI-driven insights, reinforced data security and lineage, and guaranteed compliance with HIPAA regulations by utilizing Microsoft cloud technologies like Azure Synapse Analytics, Databricks, Python, PySpark, and Purview. His expertise in strategic auto-scaling and serverless computing has also contributed to significant cost optimizations in cloud storage and computing resources.

    As a key contributor to his organization, Hari Prasad has played a fundamental role in optimizing cloud storage and compute efficiency, resulting in substantial cost savings. His work in implementing Delta Lake and real-time analytics has led to improved reporting and clinical decision-making. Through strategic leadership and collaboration, he has helped establish a robust, future-ready data ecosystem that enhances operational efficiency, regulatory compliance, and data-driven insights within the healthcare sector.

    One of Hari Prasad’s most impactful projects involved the implementation of an enterprise-wide data lake, enabling seamless integration of structured and unstructured healthcare data. Additionally, he designed a near real-time system using Delta Lake, Azure Synapse, and Databricks, reducing alert latency and enhancing proactive data quality.

    His contributions to optimizing data processing efficiency have been substantial, with a Delta Lake-based architecture reducing data retrieval time by 60% and improving query performance for large-scale healthcare datasets. His focus on cost reduction has led to a 30% decrease in cloud storage costs through efficient partitioning strategies and lifecycle policies in Azure Data Lake, along with a 30% reduction in computing expenses using serverless Azure Synapse pools.

    His work in near real-time analytics and security compliance has resulted in developing a near real-time system that reduces critical alert latency, improves data quality, and ensures 100% HIPAA compliance through Azure Purview-based data lineage tracking and role-based access control.

    Furthermore, he has strengthened data interoperability by establishing a cross-organization Data Mesh framework, enabling 30% faster data exchange between business units. These results highlight his strong track record in efficiency improvements, cost savings, AI advancements, and compliance within healthcare data ecosystems.

    Large-scale, unstable source data management has presented many challenges that Hari Prasad Bomma has successfully overcome. Traditional architectures struggled with near real-time data quality and governance, which he addressed by implementing Delta Lake with Azure Databricks and Synapse. This implementation resulted in 60% faster data retrieval and 40% more efficient ETL processes, significantly improving both clinical decision-making and marketing analytics. Another major challenge he addressed was optimizing costs without compromising performance. By leveraging Azure Synapse serverless computing and lifecycle policies, he reduced storage costs and compute expenses by 25%, ensuring a cost-efficient, scalable architecture.

    Choosing between Data Lake, Delta Lake, and Data Mesh depends on an organization’s data strategy, governance requirements, and scalability needs. While data lakes provide flexibility, delta lakes enhance reliability, and data mesh promotes decentralization and agility. Each approach has its strengths, and organizations must align their selection with their long-term data goals. As Hari Prasad Bomma mentions, businesses that adopt automation, AI governance, and hybrid architectures will be at the forefront of the next wave of data ecosystems that are intelligent, scalable, and compliant as the industry develops.

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  • Johnson Controls-Hitachi and DPIIT are Teaming Up to Establish an Incubator for Startups

    The Department for Promotion of Industry and Internal Trade (DPIIT) and Johnson Controls-Hitachi Air Conditioning India Ltd. have inked a Memorandum of Understanding (MoU) to build an incubator to assist businesses in Gujarat that are focused on manufacturing. In terms of Johnson Controls-Hitachi Air Conditioning India’s dedication to fostering innovation and bolstering the nation’s manufacturing environment, this is an important turning point.

    The purpose of this Startup Incubator is to support technical innovation, sustainability, and energy efficiency by offering a strong platform to firms that are concentrated on particular manufacturing sectors. Under the direction of Sanjay Sudhakaran, Managing Director, Johnson Controls-Hitachi Air Conditioning India Limited, India & South Asia Region, and Sumeet Jarangal, Director, DPIIT, Ministry of Commerce and Industry, the Memorandum of Understanding was formalised. The joint secretary of the DPIIT, Sanjiv, was also present during the signing-off ceremony.

    According to Director of DPIIT, Ministry of Commerce and Industry Sumeet Jarangal, India is moving closer to a Viksit Bharat as a result of the Prime Minister’s “design in India, design for the world” philosophy. With several programmes like the Make in India and Production-Linked Incentive Scheme, he continued, the Indian government is dedicated to growing the manufacturing sector. He underlined that developing an ecosystem of startups and an innovation pipeline are critical components of strengthening India’s manufacturing sector.

    He expressed optimism that the collaboration with Johnson Controls-Hitachi Air Conditioning India Ltd. will give the nation’s youthful innovators and entrepreneurs the much-needed support and direction.

    Providing Mentorship and Guidance

    The manufacturing entrepreneurs will receive mentorship and coaching on a range of crucial topics, from concept-to-prototype development, project viability evaluation, and go-to-market strategies, from the Johnson Controls-Hitachi Air Conditioning India Limited incubator. In order to enable the commercialisation of unique items, the organisation will also assist clients in managing future financial demands in addition to other essential services like legal and intellectual property filing. 

    The Government of India and DPIIT deserve praise for their innovative idea and for offering this special platform that links entrepreneurs with the industry, opined Sanjay Sudhakaran, Managing Director of Johnson Controls-Hitachi Air Conditioning India Limited in the India & South Asia Region. He stated that it’s time for India to achieve a similar level of success in the manufacturing sector, having already demonstrated its inventiveness and entrepreneurial skill in the IT sector with many unicorns. He added that Johnson Controls-Hitachi Air Conditioning India Limited has made significant investments in India to build top-notch R&D and production capabilities.

    The Gujarat Connection

    The Johnson Controls-Hitachi Air Conditioning India Limited is supported by Japanese innovation, technology, and industry-leading experience. He underlined that the Global Development Centre and the production site in Kadi, Gujarat—one of the biggest air conditioner manufacturing facilities in India—are dedicated to providing Indian consumers with cutting-edge, high-end, and feature-rich air conditioning products.

    The company is thrilled to work with DPIIT to establish a cutting-edge incubator at its Kadi, Gujarat, location, according to Sanjay Sudhakaran. This strategic partnership between Johnson Controls-Hitachi Air Conditioning India Ltd. and DPIIT demonstrates the company’s commitment to innovation in the manufacturing sector and is in line with the Indian government’s goal of promoting industrial growth and technical advancement. Manufacturing-focused businesses would receive the critical support and mentoring needed to realise their ideas through this incubator.

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  • LC Nueva Investment Announces INR 250 Crore Venture Capital Fund

    A new venture capital fund with a target size of INR 250 crore has been established by LC Nueva Investment Partners, a collaboration between Lighthouse Canton in Singapore and Nueva Capital in Delhi.

    With a greenshoe option of INR 100 crore, the new LC Nueva Momentum Fund would aim to reach a target size of INR 150 crore. The VC fund will concentrate on making investments in ten to fifteen businesses that are in the Series A and B funding stages. This collaboration created the LC Nueva Fund in 2023, with an INR 350 crore size cap. An official statement claims that since its completion, the fund has had impressive results, with more than half of the companies obtaining additional funding rounds and having an average revenue growth rate of almost 57%.

    As of June 30, 2024, Lighthouse Canton, a global asset and wealth management company, was managing assets worth over $3.7 billion. Ashish and Sohil Chand launched Nueva Capital, an investment holding company that oversees $100 million in both the public and private markets.

    What is the Greenshoe Option?

    During initial public offerings (IPOs), corporations employ the greenshoe option, sometimes called the over-allotment option, to keep the stock price stable in case there is increased demand for their shares after the IPO. In the event of excess demand, it gives the underwriters, who help with the initial public offering (IPO), the authority to issue more shares—usually up to 15% of the initial shares issued. In addition to keeping the share price from soaring, the greenshoe option gives underwriters the chance to repurchase shares at the offer price, which helps stabilize the stock price.

    New Focus Areas

    The LC Nueva Momentum Fund will now concentrate on three main areas: secondary market investing, neighboring prospects, and reinvesting in already profitable portfolio companies.

    “We are well-positioned to successfully navigate the current market dynamics by aggressively chasing secondary opportunities and utilizing the solid connections made through our prior fund,” said Sohil Chand, the founding partner and CIO of LC Nueva Fund. The venture capital business claims that the secondary market in India has grown significantly due to a pressing demand for liquidity and falling valuations.

    Sanket Sinha, Global Head of Asset Management at Lighthouse Canton, stated that secondary funds grew at the quickest rate of any asset class globally in 2023.

    Portfolio secondaries, in which funds buy out entire General Partner portfolios, have significantly increased in India in recent years. These transactions used to be rare, but as businesses get older, institutional secondary investors are increasingly buying private secondary portfolios. He further explained that in the first half of 2024 alone, secondary share sales accounted for 34% of transactions in the $50–500 million area for big deals.

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  • Investment of $30 Million to Be Made by Prosus in Urban Company

    One of the biggest technology investors in the world, Prosus, is increasing its position in the home services platform Urban Company by almost double. The Netherlands-based investor wants to increase its holdings before the business goes public early next year.

    According to a media report, Prosus, which has funded some of the largest startups in the nation, including Swiggy, Meesho, and Eruditus, among others, will be investing roughly $30 million in an all-secondary transaction, providing Bessemer Venture Partners a partial exit. The deal will be closed at a fixed valuation of $2.6 billion. Note that secondary transactions usually occur at significantly lower valuations.

    Accel Partners and Elevation Capital

    Two of Urban Company’s initial investors, Accel Partners and Elevation Capital, sold a portion of their shareholding to Dharana Capital in July in an all-secondary deal valued at approximately INR 400 crore. The sources claim that while both companies were thinking about selling additional stakes, they have now shelved those plans and will wait for the company’s IPO the following year.

    Even the possibility that Steadview was considering a sale is unfounded, according to a media report. Only Bessemer is offering the biggest portion and minor secondaries for Elevation and Acceleration. The report went on to say that Urban Company is one of the few good assets and that Prosus has an opportunity to take full advantage of it by doubling down its investment, and watch its valuation rise at the IPO the next year.

    India’s Venture Capital Landscape

    Recent trends in India’s venture capital scene indicate that when their initial fund cycles are coming to an end, early-stage VCs are choosing to quit their portfolio businesses. In April, The CapTable published a detailed article about how venture capitalists (VCs) were seeking to sell their holdings in secondary transactions. 

    However, Prosus’ decision to raise its ownership in Urban Company follows a significant multi-hundred million-dollar profit from its investment in Swiggy, a rapid commerce and food delivery company getting ready for an IPO later this year. Despite suffering large losses on two of its largest Indian assets, Pharmeasy and Byju’s, Prosus is now focussing on growing its other purportedly profitable businesses. Prosus also wants to expand the scope of its holdings outside of tech ventures. Prosus made a $100 million investment in Vastu Housing Finance in September. It also planned to spend about $40 million on the jewellery platform Bluestone.

    The Urban Company was founded by Abhiraj Bhal, Raghav Chandra, and Varun Khaitan about ten years ago. It last received main funding in 2021 from a variety of investors, including Prosus, Steadview, Dragoneer, and Tiger Global Management. At the time, the corporation was worth $2.6 billion. It has started discussions about an IPO with a few investment institutions.

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  • After Purchasing MX Player, Amazon Merged It With miniTV to Launch Amazon MX Player

    ‘Amazon MX Player’ was introduced by Amazon on 7 September 2024 after it announced that it had taken over the free streaming OTT platform MX Player and combined it with its video streaming service, miniTV. Amazon kept the acquisition’s valuation a secret. A wider audience will be able to access premium-free content thanks to the combination.

    Recently, Amazon acquired certain assets of MX Player, which includes the MX Player app, a prominent free streaming OTT service in India. According to Amazon’s official statement, with this acquisition, it is combining two of the most well-liked free AVOD (or ad-supported video on demand) services in India, MX Player, and Amazon miniTV, into a single service, Amazon MX Player. It further stated that over 250 million distinct users of the combined service in September had access to thousands of original series, well-known films, and foreign series dubbed in regional tongues.

    The service may be accessed via Prime Video, Fire TV, the Amazon.in Shopping apps, mobile apps, and connected TVs.

    How This Integration Will Be Done?

    Users won’t need to update or reinstall the applications for Amazon miniTV and MX Player to seamlessly integrate with Amazon MX Player.

    Amazon will continue to provide the service for free while providing higher-quality entertainment and streaming experiences more quickly than the firm could have done on its own. According to Karan Bedi, Head of Amazon MX Player, “This merger will mean great things for Amazon’s viewers, advertisers, and content partners and will let the firm bring MX Player to even more people in India.”

    Amazon Will Keep Funding Original Content Production

    The online retailer has pledged to continue funding original programming and bringing back beloved series for the new platform.

    It stated that this will present chances for advertising to strengthen their bond with viewers. With the acquisition and merger, Amazon has significantly increased its presence in the Indian streaming industry, which also includes Prime Video, its paid service.

    “We are combining the enormous reach of MX Player with the advertising technology that takes advantage of Amazon’s billions of consumer signals today,” said Girish Prabhu, head of Amazon Advertising India, highlighting the strategic benefits of this merger. It’s about giving all brands—not just those that sell on Amazon—the ability to connect with and engage a sizable and engaged audience in India with appropriate advertising.

    About MX Player

    Thousands of hours of premium, exclusive, and original material from top producers and publishers are available on the MX Player video streaming app. The portal prioritizes original content that is exclusively created, with a focus on superior Hindi and regional languages. The spectrum of languages encompasses Malayalam, Tamil, Bengali, Punjabi, Bhojpuri, and Kannada. Customers will have access to more than 20 original series and more than 50,000 hours of multilingual Premium Content on MX Player.

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  • The XL Electric Vehicle Fleet is Launched in Gurugram by Swiggy to Meet Large Orders

    With the aim of effectively managing bulk orders, the food delivery startup Swiggy, preparing for an IPO, has formally introduced its XL electric vehicle (EV) fleet in Gurugram. This new service was launched on 5 September 2024, following a fruitful trial period throughout the holiday season.

    The debut of Swiggy Food Marketplace is timed to coincide with a rise in demand for bulk purchases when family and friends get together to celebrate, according to Sidharth Bhakoo, National Business Head. Since food is intimately linked to good times and laughter, Swiggy is seeing a rise in demand for large orders during get-togethers amongst friends and family. According to Bhakoo, owing to the on-going festive season, when there is happiness and cheer around, it is the right time to roll out this service. 

    High-Tech Vehicle Will Deliver the Food

    Temperature-controlled compartments are a feature of the XL fleet that guarantee food quality while in transit. During the Haryana state assembly elections, the fleet has already provided 3,500 meals to election officials at over 580 voting places in the constituencies of Gurugram and Badshahpur since the launch of this service.

    Twenty Swiggy XL EVs provided officials with three meals spread over two days, giving them the vital nourishment they needed throughout the challenging election season. The Deputy Commissioner of Gurugram, Nishant Kumar Yadav, praised Swiggy for their role in the election process and urged them to keep up their civic engagement.

    The initiative’s environmental benefits were emphasised by Sidharth Bhakoo, who pointed out that the all-electric fleet reduces carbon emissions by minimising the need for several delivery journeys.

    This debut comes after Swiggy recently unveiled “Bolt,” a 10-minute meal delivery service that can be found in major cities including Bengaluru, Chennai, Hyderabad, Delhi, Mumbai, and Pune and that delivers food within a 2-kilometre radius.

    Company’s Financial Report Card

    The business also recently introduced “Cafe,” a service that delivers snacks and drinks in 15 minutes. Despite these advancements, Swiggy’s losses increased by 8.31% year over year to INR 611 crore in the first quarter of FY25, and the company recorded slower growth than its competitor Zomato.

    Currently gearing up for its impending initial public offering (IPO), the foodtech business has gained clearance from shareholders to raise the new issue size to INR 5,000 crore. In order to maintain its competitive edge in the food delivery industry, Swiggy is getting ready to expand its XL EV fleet to include additional cities in addition to Gurugram.

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  • Over the Next Decade, Tata Power Plans to Invest INR 1.2 Lakh Crore in Rajasthan

    The government of Rajasthan and Tata Power, the biggest integrated power firm in India, have inked a Memorandum of Understanding (MoU) for a substantial investment of INR 1.2 lakh crore to overhaul the state’s electricity industry.

    Senior Rajasthani government officials, together with Chief Minister Bhajan Lal Sharma and Col Rajyavardhan Rathore, the state’s minister of industry and commerce, witnessed the signing of the Memorandum of Understanding during the Rising Rajasthan Investor Meet in New Delhi.

    With investments in manufacturing, transmission, distribution, nuclear power, rooftop installations, EV charging, and renewable energy projects, the 10-year investment plan seeks to support Rajasthan’s transformation into a power surplus state that offers a clean, affordable, and dependable power supply around the clock.

    “Tata Powers’ investment in Rajasthan is a pivotal step to enhance the energy infrastructure. It is a step towards a future where electric mobility solutions are not just a vision but a reality, especially for e-rickshaws. This investment will significantly enhance the energy infrastructure by providing access to reliable, and affordable charging infrastructure. This step is aligned with India’s vision of achieving the electrification goal and it will not only drive higher EV adoption but will also have greater economic benefits including job creation and the growth of ancillary industries such as battery production and EV parts manufacturing. We are confident that this game-changing investment will certainly accelerate the adoption of electric vehicles and empower manufacturers, end users, and local economies alike,” stated Nitin Kapoor, Managing Director, SAERA Electric Auto Ltd.

    Emphasis on Sustainable Energy Sources

    Roughly INR 75,000 crore, or a large amount of the investment, will go into renewable energy projects. In multiple regions, including Bikaner, Jaisalmer, Barmer, and Jodhpur, Tata Power intends to create 10,000 MW of renewable energy capacity. This comprises hybrid energy projects with 4,000 MW and 6,000 MW of solar electricity. India’s capacity to manufacture solar modules domestically would be strengthened even further by this MoU, which calls for the construction of a 2,000 MW facility in Jodhpur.

    The collaboration between Tata Power and the Government of Rajasthan, according to CEO and MD Dr Praveer Sinha, is evidence of the companies’ common goal of creating an integrated, low-carbon energy ecosystem in the region. The company wants to help Rajasthan achieve its energy goals and give its citizens access to economic possibilities by leveraging Tata Power’s knowledge throughout the whole power sector value chain.

    Modernizing the Power Grid’s Transmission and Distribution Systems

    In addition to renewable energy, Tata Power has made a large financial investment in Rajasthan’s electricity infrastructure modernization. To update the state’s distribution systems and lower energy losses while raising power quality, the business intends to invest INR 20,000 crore.

    To improve transmission infrastructure, an extra INR 10,000 crore has been set aside. It is anticipated that these investments will increase the energy grid’s dependability in the state and guarantee that businesses and homes will always have access to cheap, clean power.

    Focus on Electric Vehicles and Solar Panels for Homes

    By investing INR 1,000 crore to build 1 lakh electric vehicle (EV) charge stations throughout the state, Tata Power also intends to assist Rajasthan’s shift to electric mobility. This will be crucial in lowering carbon emissions and promoting the use of electric vehicles in the area.

    Tata Power has also promised to install rooftop solar power systems under the PM Surya Ghar Yojana for 10 lakh families. With the help of these installations, distributed renewable energy generation will be encouraged, and affordable, clean power will be delivered directly to houses throughout the state.

    The MoU has the potential to establish Rajasthan as one of India’s foremost renewable energy hubs, helping the state meet its ambitious goals of reaching net-zero emissions by 2070 and 500 GW of renewable capacity installed by 2030.

    Directly Supporting More Than 28,000 Individuals

    Over 28,000 direct jobs are anticipated to be created in Rajasthan as a result of the MoU, significantly boosting the region’s economy. Rajasthan will become a more desirable location for green investments as a result of this significant investment. This development will also support several businesses, such as solar manufacturing, infrastructure development, and innovative renewable energy sources.

    This partnership is anticipated to have a far-reaching socio-economic influence above and beyond the energy sector. Tata Power hopes to promote sustainable industrial development in Rajasthan by bringing down energy costs for enterprises and consumers alike through large-scale integration of renewables.

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  • Jio Urges Trai to Evaluate the Consultation Document on the Satellite Spectrum

    Telecom regulator Trai has been urged by Reliance Jio to draft a revised paper on spectrum distribution for satellite communication, claiming that it fails to address the crucial issue of guaranteeing parity between satellite and terrestrial services.

    The Telecom Regulatory Authority of India (Trai) Chairman, Anil Kumar Lahoti, received a letter from Reliance Jio requesting that the consultation document on suggested rules for “terms and conditions for the assignment of spectrum for certain satellite-based commercial communication services” needed to be revised.

    Why Does Reliance Jio Want to Revise the Paper?

    The crucial problem of guaranteeing fairness between satellite-based and terrestrial access providers has been entirely disregarded in the consultation paper, which astonished us. In a letter dated October 4, Reliance Jio (RJIL) stated that this omission has led to the absence of any queries addressing the necessity of establishing a level playing field amongst these providers. According to Jio, if this element is left out, stakeholders won’t be able to give Trai enough thought and relevant input, which will compromise the suggestions’ fairness and the government’s goal of encouraging balanced competition.

    Trai launched a consultation process on September 27, 2024, to investigate the process and cost of allocating spectrum to satellite firms for the provision of broadband, messaging, telephony, and other services throughout the nation. In India, satellite-based internet services from firms like Jio Satellite Communications, OneWeb, which is sponsored by the Bharti Group, and Starlink, which is owned by Elon Musk, will be made possible by the decision on spectrum pricing and allocation methods.

    Jio and Vodafone Idea Have Opposed the Allocation

    Jio and Vodafone Idea have protested the distribution of spectrum to satellite firms without conducting any official auction for the same.  Jio claimed that the paper’s bias towards administrative spectrum assignment violates the Telecommunications Act of 2023’s standards.

    According to the Telecommunication Act of 2023, auctions are the primary means of allocating spectrum for commercial services. To address the level-playing field difficulties between satellite and terrestrial networks, the company kindly requests that Trai rethink and update the consultation document with targeted questions. According to Jio, stakeholders should continue to have a say in both the auction and administrative assignment processes, with careful attention paid to competitive fairness.

    A system for calculating spectrum charges, frequency ranges for satellite communications services, assignment length, and provisions for surrendering spectrum are among the 21 items on which Trai has requested feedback. According to the regulator, the deadline for comments on the paper is October 18, and the deadline for counter comments is October 25.

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