Tag: Amitabh Kant

High growth rate in manufacturing a doable challenge, says Niti Aayog CEO

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Niti Aayog CEO Amitabh Kant on Tuesday said achieving double digit growth in the manufacturing sector on sustainable basis is a “doable challenge” but for that the country needs to integrate with global markets.

Referring to the draft report of Department of Industrial Policy and Promotion (DIPP) on making India a $5 trillion economy by 2025, he said the plan envisages an annual GDP growth rate of 11.7 percent.

On sectoral basis, growth in the manufacturing gross value added has to be 14.6 percent year after year, Kant said.

“To my mind that’s a challenge, but it is a doable challenge. We have to be extremely competitive and across chemicals, across automobile, across metals and that would require size and scale,” he said at a CII event attended by industrialists.

He said that if manufacturing sector has to grow at 14.6 percent, then “you have to be a very integral part of the global supply chain” and it cannot be done without looking at global markets.

As per the Central Statistics Office (CSO), the growth in the Gross Value Added (GVA) at basic prices for 2017-18 from ‘manufacturing’ sector was
estimated to be 5.1 percent as compared to growth of 7.9 percent in 2016-17.

“For too long, Indian manufacturing has been looking at domestic markets. One thing is very clear that all of us must realise is that the big bucks are out there in the global markets…therefore, penetrating global markets must be our challenge,” Kant said.

He said that no country in the world, may it be Japan or China, has grown without penetrating global markets.

Kant urged the industry to create “2-3 global champions” which will lead India into penetrating the global markets.

The Niti Aayog official further said he was going through various schemes of textiles ministry.

The ministry has plethora of schemes which have grown over the years, he noted.

“I think all of them need to go and we just need to have one simple scheme of creating plug and play world-class facility which will ensure that we make our industry competitive,” Kant said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Next round of bidding for airport privatisation to be easier, says report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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A high-level committee, led by Niti Aayog chief Amitabh Kant, has set rules easier for companies to comply with, in the next round of privatisation of airports, avoiding a repeat of what happened with Air India, Business Standard reported, citing sources.

As per the rule, a bidder with no prior experience in developing airports will also be eligible to participate, the report said, adding that the net worth of the bidding companies will be the key criteria as they will be asked to absorb the airport employees for at least five years.

The Amitabh Kant-led high-level committee finalised the guidelines and the rules for the process after the Union Cabinet cleared privatisation of six more airports, the report said.

“Airport Authority of India will do a single stage bidding process which will only evaluate eligibility criteria based on financial capability,” sources told the paper.

The airports chosen to be under the PPP (public-private partnership) model are those in Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram and Guwahati.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Amitabh Kant pitches for ban on usage of fossil fuel-based gensets

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Stressing on tough steps to reform power sector, Niti Aayog CEO Amitabh Kant on Tuesday pitched for ban on use of fossil fuel based gensets saying that the government needs to do it before a court order six months down the line.

He also made case for phasing out more than 25 years old coal based thermal power plants, creating of open access power market, commercial coal mining and promoting renewables.

“You need to prohibit use and sale of gensets including captive which are using petrol, diesel, kerosene, pet coke and furnace oil for power supply. This is polluting and brings inefficiency in power sector. …Whether we like it or not, if government does not do it, six months down the line courts will do that,” Kant said addressing an inaugural session of 21st India Power Forum 2018 here.

Kant further noted that, if the government bans generator sets (gensets), the strengthening distribution system would be required to ensure round-the-clock power supply and said “we need to do heavy penalty for load shedding. This require series of tough measure.”

In the proposed Electricity Amendment Bill, consumer would be able to switch service providers in electricity sector like they do for telecom services.

On the issue to safeguard new investments in power sector, he said, “We clearly need to phase out plants which are more than 25 years old. NTPC, BHEL and some others may not like it but this is necessary”.

Strongly recommending privatisation of coal mining, he said,”all this theories of nationalisation coal mines is not worth” and said that government should allow private sector to step in for commercial mining.

Earlier, the Union Cabinet had approved commercial mining in view of coal shortage in the country which is also plaguing power sector.

On the performance of states under UDAY scheme he said, “Power produced must be sold at the right price”.

While some states like Andhra Pradesh, Gujarat, Maharashtra and Himachal Pradesh have done well. There are other states which have done very badly. Jharkhand, Tamil Nadu, Telangana, Uttarakhand, Jammu & Kashmir and Meghalaya have done extremely poorly.

“If you do the analysis we need to shame these states. We must learn the art of naming and shaming states,” he said.

About clean energy, he was of the view that the challenge for India is, how the country does sustainable and innovative urbanisation, which means changing energy trajectory towards renewables.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

A magnificent Souza is discovered after five decades in the US 

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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A magnificent Souza work is enjoying a renaissance after 54 years. It is a momentous time for all the art lovers gathered at the ground-breaking new exhibition The Progressive Revolution: Modern Art for a New India, which shows the work of the Progressive Artists’ Group as never before seen. For several years, this 1963 painting, which is the largest Crucifixion that Souza ever made, was kept rolled up in a studio.

Dr Zehra Jumabhoy, who has co-curated the exhibition with Boon Hui Tan, Director o

f the Asia Society said, “It was last seen at his first solo exhibition, The Human and the Divine Predicament, at London’s Grosvenor Gallery in 1964, before disappearing into a private collection — its whereabouts disputed for years. This is the first time it has been publicly displayed in 54 years.”

The exhibition, which brings together 80 works of art from the Progressive Artists, many of them together for the first time, has many surprises for gallery visitors. There are intriguing stories behind the paintings and in fact, there is the much seen photograph of the Progressive artists together – and the two artworks on the wall in this iconic photograph are actually physically present in this exhibition.

So this is an exhibition to browse and mull over, and learn many unknown facts about India’s quintessential moderns, as works from private collections from India to America are displayed together here along with those from public museums, and you see their collective vision of a New India, a secular India. Jumabhoy points out, “As the Progressives visualised modern India as a heterogeneous entity, they set out to prove that they were both Indian and international – the definition of each term contingent on the other.”

Ganesha’s New York Birthday Bash

Looking at the elaborate stone silhouette of the temple, the rush of devotees and hearing the clang of drums, you could have been forgiven for thinking you were back in Chennai. But no, this was the Hindu Temple Society in Flushing, Queens – the oldest Hindu temple in New York set in a working-class neighborhood – and Indian-Americans had gathered for the nine-day celebration of Ganesh Chathurthi.

Spirituality is something most Indians bring with them in their flight to America and it was impressive to see CEOs, bankers, business people and techies abandon their suits for dhotis and kurtas on this special day as Ganesha’s chariot was taken in procession around Main Street. In fact, the many IT devotees ensured that the entire event was live-streamed.

Ganesha has become quite a part of the neighborhood as people danced, drums clanged and store-owners gave out mango drinks and Glaxo biscuits to the crowds. The temple had close to 10,000 visitors and over the nine days 60,000 lunch platters were given out from giant pots of daal and rice and about 10,000 laddoos.

As Dr Mysorekar, president of the temple, said, “It’s a very unique procession – diverse people come together because Ganesha is a symbol of a Universal God. Whether it’s a learning process or curiosity but it brings different people in.”

Indians in America have stayed with their belief and their faith. “It is something we should all be very proud of,” agrees Mysorekar.  “We are Americans and at the same time we have kept our Hindu traditions and we continue to follow our religion while believing strongly in interfaith. As Indians we reach out to everybody.” The Hindu temple has fit right into this American neighborhood, is active on the civic boards and in fact, is so well-loved in the local community that Lord Ganesha was given VIP treatment with his chariot being led by a New York police patrol car.

India On The Move

Amitabh Kant, CEO of government think-tank NITI Aayog, was in New York and enthralled audiences at the Asia Society with a futuristic view of India in 2050. What will the world’s fastest-growing economy — the sixth-largest economy overall — look like in 2050? He informed Indian-Americans how India is going to be a world player in the years to come with its youthful population and its immense talent. “India is the only country with a billion biometrics, it’s the only country with a billion bank accounts and it’s the only country which is using technology to leapfrog,”

Kant discussed the challenges too. As he noted: “In the next five decades India will have over 700 million people getting urbanised. The process of urbanisation has ended in America but in India the process has just begun. The challenge for India is to really create two Americas – and do it in a far more innovative and sustainable manner, in a compact, dense manner, recycling water and waste. The challenge is how India does innovative and sustainable urbanization, and how it creates world-class infrastructure.”

His talk was followed by a panel discussion with some thought leaders – Asia Society vice- president Tom Nagorski, Vinita Jain, the founder and chairman of Biotique, Charles R. Kaye, co-CEO of private equity firm Warburg Pincus, and Arun M Kumar, Chairman and CEO of KPMG India. The discussion was moderated by journalist and editor Bobby Ghosh.

The large audience also chimed in with timely questions which showed the strong interest in India’s future. The entire event was livestreamed so you can have a front row seat to the entire event that the luncheon guests got to see. Well, maybe you don’t get to taste the Asia Society lunch!

The Season of India Gala Glitters

The Progressives have brought a lot of art lovers, dealers and curators to New York for this show and it was a total love fest at the opening Season of India Gala which was co-chaired by Sangita Jindal and Sana H Sabbagh at the elegant Pierre on Fifth Avenue. Well-known names from the worlds of business, art, scholarship and philanthropy had all come together to support the arts and celebrate the new exhibition of some of India’s most important art.

In fact this kicks off the Season of India with different events running all the way to January 2019. (The exhibition, along with many thought-provoking panels, can be seen from September 14, 2018 through January 20, 2019.) India has indeed come to America!

Lavina Melwani is a New York-based journalist who blogs at Lassi with Lavina.

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Final trials of one-nation-one-card in 3-4 months, says Amitabh Kant

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Soon it will be possible to use one smartcard to travel on every public transport service across the nation as the final trials for one-nation-one-card would be held in the next few months, NITI Aayog CEO Amitabh Kant said on Thursday.

He said a lot of work has already been done on the one-nation-one-card policy after consultation with all stakeholders.

“All the back-end technology work has been done on this and probably in the next three-four months, we should be able to hold the final trials and testing cutting across rails, metros, and buses,” Kant said while addressing the media here.

He said the idea was that a person should be able to use the same card to travel in Mumbai as well as in a remote part of Uttar Pradesh.

“The same card will also work as a debit or a credit card,” he added.

“Several agencies are involved in this including Centre for Development of Advanced Computing, banks and Urban Development Ministry. Huge amount of technology work has been done. We have had several rounds of meetings and all ministries are involved,” Kant said.

Earlier this week, Kant had announced that India will shortly unveil a one-nation-one-card policy for public transport that will bring seamless connectivity between various modes of transport.

He said a robust transportation sector was the backbone for the development of any economy, especially for a densely populated developing country like India, and the focus of the nation’s mobility strategy was on sustainable modes of public transport, transport-oriented planning and digitisation.

“The objective of the strategy is to plan for the citizens first, rather than focus on vehicles alone, by providing sustainable mobility and accessibility by switching to cleaner mode of transportation,” Kant had said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

The circularity of it all

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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“Dust thou art to dust returnest” is how HW Longfellow describes our existence in one of his poems. The lines capture the sheer circularity of life, of how things seemingly coalesce into a pattern, even though they may seem disparate.

Circularity is at the core of life, in our eco-system, in our universe. Inspired by this ideal, companies and governments are talking about adopting a similar circular approach to businesses and processes. The concept is dubbed as a circular economy.

The idea of circularity is pretty simple and straightforward. Rather than a linear model that starts with raw material and ends with waste, a circular one makes use of the waste through means like recycling, thereby fashioning new products.

At the heart of this model is the principle of eliminating waste completely, through re-utilisation of resources. For instance, bottling companies reuse plastic sourced from discarded bottles in the form of pellets as a raw material to create new ones.

In this model, the role played by companies extends beyond the purview of peddling goods. They look after the lifecycle rather than just be a part of it.

While it may seem like a loss-making proposition, in the end, the benefits far outweigh the costs.

Not surprisingly, companies are actively looking at circular business models as part of their efforts to mitigate the negative environmental effects caused by waste. The impact could be critical, depending on the industry.

For instance, the plastic manufacturers in Maharashtra had to take on the responsibility of disposal because of a governmental mandate.

And it is not only companies that stand to benefit by the adoption of circularity.

A study conducted by the Ellen MacArthur Foundation in December 2016 showed that a “circular economy development path in India could create an annual value of Rs 14 lakh crore ($218 billion) in 2030 and Rs 40 lakh crore ($624 billion) in 2050 compared with the current development scenario.”

This figure has been arrived at by taking into account the three focus areas of mobility and vehicle manufacturing, food and agriculture and cities and construction.

According to the report, even at the same level of utilisation, the costs would be significantly lower in a circular scenario. The accumulated cost savings accrue to 11 percent of current Indian GDP in 2030 and 30 percent in 2050.

This is the reason the Indian government is also looking at a circular development scenario, with the NITI Aayog taking a lead on the front.

The chief executive officer of NITI Aayog, Amitabh Kant, has been pushing for adoption of resource optimisation and resource efficiency policies.

He has publicly expressed his worries on the mismatch between the requirement and availability of resources. “India needs to grow at about 10 percent annually for the next three decades to be able to meet the ever-rising demands of its growing population,” he said.

As of now, a high-level European Union delegation under the aegis of the Circular Economy Mission (CEM) is currently visiting India to explore collaboration in green businesses and promote a circular economy that aims to limit wastage of natural resources.

With representatives from countries like Austria, Belgium, Czech Republic, Denmark, Estonia, France, Germany, Netherlands, Italy, Luxembourg, Poland, Portugal, Spain, Sweden and the UK, the delegation is here to explore the expansion of cooperation in a range of areas such as climate change, water resources, housing and urban development.

According to the CEM, the Indian economy is expected to grow at close to 7.5 percent in the coming years, whereas India’s material requirements are projected to reach nearly 15 billion tonnes by 2030.

“The current linear economy model of ‘take, make, dispose’ will exacerbate the twin problems of increasing resource constraints and increased generation of waste as the economy grows,” stated the release.

Yet, circularity is something that is not unbeknown to us. Many centuries ago, the sages that wrote down the Vedas or the Upanishads, emphasised on the need for harmonious co-existence between humans and nature.

The Shanti Mantra from the Isha Upanishad elucidates the union of our spiritual being with that of the greater divinity.

From the fullness, if we were to take out fullness, what will remain is fullness. (Om Poornamadah Poornamidam Poornnaat-Poornam-udachyate. Poornnasya Poornamadaya Poornam-eva-avashissyate). Does that not sound like a philosophic definition of a geometric circle?

The best example of practical application of circularity can be seen in the architectural treatise Vastu Shashtra that enumerates the ways and means in which resource utilisation can be optimised or minimised.

Take the instance of the Indira Paryavaran Bhawan office building, which houses the Ministry of Environment, Forest and Climate Change (MoEFCC) in seven floors in New Delhi.

The building, reportedly the first net-zero building in India, has achieved net zero energy consumption through a two-pronged approach – minimising energy demand and meeting the demand with renewable energy.

The building’s design features minimise energy and water consumption for total energy savings of 40% and water savings of 55 percent.

In fact, until just a few decades back, a bulk of Indians were pretty conscientious when it came to using resources.

People were conscious not to reuse waste, recycle things and reduce usage. The kabadiallah or the raddiwallah was as much a part of our lives as the milkman.

Thanks to the rationing, we were always wary of wastage. I still remember the first time the Reynolds single-use ball-pen was launched in the ‘80s; people were not inclined to buy it. “One has to throw away the pen, as the refill can’t be changed,” went the popular refrain.

But our nation has come a long way from then. From a country where getting a phone connection meant waiting for years, to a scenario where we can order mobiles with just a few clicks on our apps.

The cheap goods, the EMIs, and the sheer bouquet of choices have unleashed a wave of consumerist use-and-throw culture, which is so endemic in the western countries.

Today, great offers or discounts are the drivers of our purchasing instincts. Buying a new mobile or a new laptop is not based on our needs or requirements, but rather how fanciful the product seems. It is such mindless consumerism that helps build mountain-heaps of waste.

In the end, circularity as a principle needs to be adopted not just by governments or companies, but also individuals.

We need to be conscious of our footprint, we need to be conscientious about waste. We just need to understand that life is a circle and we are a part of it. Let’s try not to be squares.

Shashwat DC is Features Editor at CNBC-TV18. He is closet-activist for sustainability and CSR, when not pondering over the future of humanity or contemplating the launch of the new Android phone.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

One-nation-one-card for public transport soon, says NITI Aayog

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India will shortly unveil a one-nation-one-card policy for public transport that will bring seamless connectivity between various modes of transport, NITI Aayog CEO Amitabh Kant said on Monday.

He said a robust transportation sector was the backbone for the development of any economy, especially for a densely populated developing country like India, and the focus of the nation’s mobility strategy was on sustainable modes of public transport, transport-oriented planning and digitisation.

“The objective of the strategy is to plan for the citizens first, rather than focusing on vehicles alone, by providing sustainable mobility and accessibility by switching to cleaner mode of transportation,” Kant said at the “Future Mobility Summit-2018-India’s Move to NextGen Transport Systems”.

The road transportation segment alone contributes to around four percent of India’s GDP with the segment still being heavily dependent on fossil fuels.

In the wake of the worsening air quality in the country’s major cities, rising concerns of climate change and an ever-increasing oil import bill, mobility is a crucial piece of the development puzzle and the key to unlocking the potential of India’s economy and people, the NITI Aayog CEO said.

NITI Aayog Advisor Anil Srivastava said the government was working towards achieving a robust mobility ecosystem across India.

“The citizens, on their part, should work towards sharing a ride, not owning the ride. The government has integrated many stake holders across departments to drive India’s mobility vision,” he added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Government’s job not to get into pricing and discounts for e-commerce players, says Amitabh Kant

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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With the recently published e-commerce policy draft,  the government touched upon elements such as pricing and discounts for e-commerce companies.

“The government’s job is to create the right facility environment and policy framework for e-commerce and not get into discounts and pricing,” said Amitabh Kant, CEO of NITI Aayog.

India, in the e-commerce policy draft, is considering asking e-commerce and social media firms to exclusively store customer data locally, in a move that could affect global giants that operate in the country such as Amazon, Facebook and its messaging service WhatsApp.

The government is also thinking of tightening scrutiny of mergers in the e-commerce sector so that even small deals that potentially distort competition are compulsorily examined by the country’s anti-trust regulator.

“Government’s job is to create the right policy framework where we allow the e-commerce sector to grow and blossom in India so that we can create many more jobs to benefit our producers, manufacturers and even Make In India,” Kant said.

Kant said the e-commerce companies can help in creating a ‘massive amount’ of employment in handicraft, handloom and can benefit the small and medium companies to get into the e-commerce environment.

“That is what we should push for and just be a facilitator and a catalyst to enable that to happen,” he said, adding that the pricing and the discounts have to be taken care of by the market.

Along with the e-commerce policy, Kant said, the government would like to push towards technological disruption in public transport.

“Public transport is definitely something the government would like to support,” Kant said.

“My belief is that you cannot subsidise large-scale four wheelers, you need technological disruptions to take place in that, he said.

As far as two wheelers and three wheelers are concerned, the total cost of ownership has already fallen and there is a need to ensure that we are able to quickly transform the two-wheelers and three-wheelers into electric vehicles, he added.

Modi government has been planning a big push in the electric vehicle sector. The government is likely to announce a fresh policy on September 7, on the sidelines of global e-mobility summit.

It is also planning to offer a direct subsidy on electric vehicles, including cars, two-wheelers and three-wheelers.

On global mobility summit, Kant said India is very different from other parts of the world as far as electric mobility is concerned largely because 76 percent of the total vehicles are two-wheelers. “So, the challenge for India is really to be able to convert all our two-wheelers into electric,” he said.

For busses, Kant said, within the cities, it needs a cleaner form of gas like CNG and for movement from city to city there is of LNG.

“The other key challenge for India is to move away from capital expenditure so that we have busses and public transport systems which can be done on operational expenditure rather than capital expenditure and that is some scheme which NITI Aayog is pushing for,” Kant added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow