Scripbox Brings App-Based Advisory To Investors In Direct Mutual Funds

Scripbox, India's leading mutual fund app, today announced the launch of investment advisory services for direct mutual funds. Historically available only to high net worth individuals (HNIs), these advisory services are now accessible to all customers via the Scripbox App for a monthly fee.

"Investors in direct funds lack access to expert guidance, this is a significant gap in the market which we are addressing with our app," said Sanjiv Singhal, Founder of Scripbox. "Our digital app provides personalized financial planning, risk profiling, asset allocation, fund selection, portfolio review –  end to end high quality advisory services – for investors in direct funds. This is what we do best—helping our customers meet their long-term financial goals."

Scripbox App is the first to bring high-quality advisory services to investors in direct mutual funds. This launch is part of Scripbox's mission to help a million families achieve financial freedom. Investment advisory services are provided by a wholly owned Scripbox group company - Mitraz Financial Services Private Limited (SEBI Reg No. INA200001041).

Scripbox’s track record underscores the importance of high-quality financial advice. The company's recommendations have outperformed in 9 out of 13 periods, with initial wealth of customers growing 35 times since inception. Customers who started with an investment of ?3 crores in 2013 now see their wealth valued at ?106 crores.

Expert advice and financial planning are essential for improving outcomes and achieving financial goals for long term investors. Studies consistently show that clients who work with financial advisors achieve better outcomes compared to those who do not. However, high quality advice is available only to high net worth investors who can afford it. Scripbox App based advisory is affordable and targeted at individuals aspiring to meet their families' goals by investing in mutual funds. Scripbox leverages advanced technology to deliver high-quality, personalized advice at scale. By using sophisticated algorithms and data analytics, Scripbox can provide tailored recommendations that match each investor's unique financial goals.

Investors often face challenges without proper guidance, leading to premature exits and suboptimal returns. Data from the Association of Mutual Funds in India (AMFI) as of June 30 highlights this issue: 15.6% of equity assets do not stay invested for more than six months; 10.9% stay invested for 6-12 months, and 22.2% stay invested for 12-24 months.

Scripbox has always led with comprehensive advice to help customers achieve their long-term financial goals. With the introduction of investment advisory services for direct funds, customers now have the choice to invest in either regular funds, where Scripbox earns a commission, or direct funds for a monthly fee. This subscription-based advisory service for direct funds ensures that investors receive continuous, real-time financial planning tailored to their evolving goals, providing them with the expert guidance they need to make informed investment decisions.

Belagavi TO Get A New “Heartfulness Meditation Centre” With The Mission To Reach More Reditation Seekers

* Vishweshwarayya Technological University hosts Heartfulness Meditation for over 1400 students and academia

Heartfulness in Belagavi held a foundation stone laying ceremony and ‘Bhoomi poojan’ of the proposed new Heartfulness Meditation Centre across 4000 sq feet land in Sadashiv Nagar in Belagavi. The foundation stone was laid by Shri. Kamlesh Patel (Daaji) – Guide of Heartfulness and President of Shri Ram Chandra Mission. The aim of the center is to offer free meditation and making meditation accessible to people of all religions, caste or creed.  In yet another event hosted by Vishweshwarayya Technological University (VTU) in Belagavi, over 1400 students and academia from various educational institutions gathered and participated in a group meditation led by Rev. Daaji. This was followed by Vice Chancellor of VTU Dr. Vidyashankar felicitating Daaji on the occasion. Acclaimed cinematographer of Kannada film Industry, Ms. Shwetpriya had an interactive session with Daaji wherein he shared his wisdom and the importance of meditation in our daily lives.

Rev. Daaji – Guide of Heartfulness and President of Shri Ram Chandra Mission spoke on the occasion of the upcoming new Heartfulness Meditation Centre in Belagavi, “The purpose of the new meditation centre is to be able to accommodate more practitioners and seekers. Meditation must be made accessible and an indispensable tool to manage our lives in the most balanced way, and also take care of the spiritual aspect of our lives.”

The new Heartfulness Meditation Centre will have a capacity of 300 practitioners to meditate at one time. The old Heartfulness Centre of Belagavi has trained thousands of seekers including Corporates, Educational Institutes, Police Department, CRPF Personnel, Air Force cadets, Commandos of Indian army and officers of Income Tax department. 

Toyota Kirloskar Motor Promotes Holistic Approach To Clean And Green Vehicle Mobility On The ‘World Biofuel Day 2024’

As champions of sustainability, globally, Toyota is committed to Carbon Neutrality by 2050 and aims to achieve Net Zero Carbon in Manufacturing Operations by 2035 guided by Toyota Environmental Challenges 2050 (TEC 2050). Today, marking the World Biofuel Day, Toyota Kirloskar Motor (TKM) reiterates its commitment to sustainable mobility. The company has been advancing greener mobility solutions with greater agility by introducing and supporting multiple clean technologies considering various factors such as the current energy mix, unique consumer needs, infrastructure readiness, and the Government’s diversified efforts towards becoming ‘Atma Nirbhar’ in energy by 2047.

India is the fastest growing large economy. The country’s fossil fuel consumption along with imports is also rising rapidly, wherein the crude oil imports during April 2024 rose to its third highest level on record. India, world’s third largest energy consumer imported 21.4 million tonnes (mt) of crude oil in April ’24 & total 232.5 million tonnes of imported crude oil in 2023-24 fiscal (Source: April 2024 PPAC Data). Due to a large increase in mobility needs, the transport sector, which currently accounts for about 50% of oil demand (Source: IEA 2021), will be the most significant contributor to this. The higher fossil fuel consumption is also bound to result in larger carbon emissions. Therefore, it is imperative to rapidly shift away from fossil fuels with utmost urgency. 

Towards sustainable and greener future, transition to technologies that use cleaner energy such as electrification and alternate fuels (biofuel) is vital. Biofuels play a critical role in ensuring access to affordable and sustainable energy. This provides a big opportunity for India to tackle energy security concerns, boost economic growth and combat climate change by lowering carbon emissions.

India is well endowed with renewable energy, surplus sugar, food grains, and biomass which offers huge opportunities for a transition to a cleaner energy future, which is also indigenous. The abundantly available sugarcane, excess food grains, along with huge biomass waste can be used to produce ethanol that can substitute a significant amount of fossil fuel used by vehicles in the shortest possible time.

Additionally, India has big potential for ethanol production, making it an economically attractive alternative to fossil fuels and paving the way for a greener future, by using plant waste or residues like Parali through 2G technology which is otherwise burnt causing widespread pollution in northern parts of India. This has already started and can help derive economic value from waste & generate greater wealth for the agrarian economy by increasing farmer incomes and create new jobs. Further support such as research and development, favourable policy framework, etc., will enable uninterrupted supply of ethanol for the transportation sector.

Notably, in June 2024, ethanol blending with petrol reached 15.90% and cumulative ethanol blending during November 2023-June 2024 touched 13.0%. E20 is available at ‘14,611’ PSU (public sector undertaking) outlets as of June ’24 and is on track to achieve 20% blending by 2025. The implementation of 20% ethanol blending in petrol by 2025-26 is expected to substitute 86 million barrels of gasoline, thereby leading to forex savings of over Rs. 30,000 crores for India, as well as likely reduction of more than 20 million metric tonnes of carbon emissions. E20 fuel will also reduce PM2.5 emissions by up to 14% as compared to petrol (Source: MoPNG). Given the huge potential of ethanol production that exists up to and beyond E20, these benefits can increase multi-fold with the introduction of Flexi Fuel Vehicle (FFV) technology, that can flexibly use higher ethanol blends from 20% and above, going up to 100%.

However, the challenge with Flex Fuel Vehicles is lower fuel efficiency of Ethanol due to its lower energy density. Globally to counter this challenge, Electrified Flex Fuel Vehicles (FFV-SHEVs) are being introduced, as an advanced green technology that has both the flex fuel engine as well as an electric powertrain. Therefore, as in the case of a Strong Hybrid Electric Vehicle (SHEV), the use of the electric powertrain in combination with the flex fuel engine overcomes this challenge with enhanced fuel efficiency. Towards this, last year, TKM unveiled the prototype of World’s first BS6 Stage II Electrified Flex Fuel Vehicle. This green vehicle technology has the lowest well-to-wheel carbon emissions, and a favourable policy support can establish strong traction with consumers, thereby make the mobility sustainable.

Mr. Vikram Gulati, Country Head and Executive Vice President, Corporate Affairs and Governance, Toyota Kirloskar Motor, said, "Biofuel can reduce dependence on fossil fuels and yield environmental and economic benefits. In this context, Ethanol, as an indigenous and clean energy source, holds immense potential for India's energy security and environmental goals. By significantly reducing fossil fuel consumption and cutting down on carbon emissions, ethanol not only supports our national agenda of carbon neutrality but also bolsters the agrarian economy by creating jobs and increasing farmer incomes. At TKM, we are making relentless efforts towards the future of sustainable mobility by adopting a multiple technology pathway approach which includes biofuel energy driven vehicle powertrains i.e., Flex Fuel Vehicle (FFV) and Flex Fuel Strong Hybrid Electric Vehicle (FFV-SHEV) technology.

As a frontrunner in electrified vehicle technology and a socially responsible corporate entity, TKM will persistently drive its endeavours and contribute to progressive innovations by disseminating sustainable technological advancements, thereby providing ‘Mobility for All’ and “Leaving No One Behind.”

Further, emphasising the significance of multiple energy pathway approach towards achieving carbon neutrality, today, Toyota Kirloskar Motor (TKM) took part in the SIAM International Conference, themed “The Biofuel Revolution in India: Fuelling Tomorrow” that covered a series of sessions on biofuel demand and supply management, preparing the auto industry for a biofuel future, and developing a robust ecosystem for biofuel adoption. The event witnessed eminent speakers from the government and the industry, as well as participation by global experts.

SIRC of ICAI Is Organizing Its 56th Regional Conference On The Theme “Jignasa-Quest For Knowledge” In Bengaluru On Aug.9–10, 2024

Southern India Regional Council (SIRC) of ICAI is organizing its 56th Regional Conference on the theme “Jignasa-Quest for Knowledge” on Aug. 9th – 10th, 2024 in Bengaluru. Derived from Sanskrit, 'JIGNASA' signifies curiosity, inquisitiveness, and the quest for knowledge. It encapsulates our innate desire to seek answers, explore new horizons, and deepen understanding. Harmonizing this theme, 'Adyata' emphasizes accuracy, data-driven insights, trust, auditing excellence, and technology-enabled learning. Together, 'JIGNASA' and 'Adyata' empower us to embrace curiosity, engage in thought-provoking discussions, and embark on a continuous journey of knowledge acquisition.

The 2 day Conference will have various technical sessions to be addressed by eminent resource persons of international repute on subjects covering, GST, FEMA, Income Tax, Companies Act, Information Technology, Direct Taxes, etc. The conference will also include a spiritual session, health session, and entertainment program for members and their family members.

The event was inaugurated today by Ranjeet Agarwal, President, ICAI, CA, GEETHA AB, CHAIR PERSON, SIRC OF ICAI, CA, SUBBA RAO MUPPALA, SECRETARY SIRC OF ICAI, CA PRAMOD R HEGDE, CHAIRMAN, BANGALORE BRANCH (SIRC) CA KAVITHA PARAMESH SECRETARY, BANGALORE BRANCH (SIRC)  and Sri Shelley Jindal, Pr. Chief Commissioner of Income Tax, Karnataka & Goa &Dr. Binod Kumar Das from DRDO.

About ICAI

The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by an Act of Parliament under the Chartered Accountants Act, 1949 for regulating and developing the profession of Chartered Accountancy in India. The Institute functions under the administrative supervision of the Ministry of Corporate Affairs, Government of India. With around 9.59 lakh students and over 4.16 lakh members, today ICAI is the largest professional accountancy body in the world among 182 global accounting bodies. Out of the 4.16 lakh members, 30% are women, and out of 9. 59 lakh students, 43.89% are female students.

ICAI has a wide network of 5 Regional Councils and 176 Branches within India and a global presence with 50 Overseas Chapters and 31 Representative Offices spanning 81 cities across 47 Countries.

SIRC 56th Regional Conference – Bengaluru

Southern India Regional Council (SIRC) of ICAI is organizing its 56th Regional Conference on the theme “Jignasa-Quest for Knowledge” on Aug. 9th – 10th, 2024 at Bengaluru. Derived from Sanskrit, 'JIGNASA' signifies curiosity, inquisitiveness, and the quest for knowledge. It encapsulates our innate desire to seek answers, explore new horizons, and deepen understanding. Harmonizing this theme, 'Adyata' emphasizes accuracy, data-driven insights, trust, auditing excellence, and technology-enabled learning. Together, 'JIGNASA' and 'Adyata' empower us to embrace curiosity, engage in thought-provoking discussions, and embark on a continuous journey of knowledge acquisition.

The 2 day Conference will have various technical sessions to be addressed by eminent resource persons of international repute on subjects covering, GST, FEMA, Income Tax, Companies Act, Information Technology, Direct Taxes, etc. The Conference will also have a spiritual session, health session, and an entertaining program for Members and their family members.

The event was inaugurated today by Shri Krishna Byregowda, Hon’ble Minister of Revenue, Govt. of Karnataka along with Sri Shelley Jindal, Pr. Chief Commissioner of Income Tax, Karnataka & Goa &Dr. Binod Kumar Das from DRDO.

DRISHTI

The ICAI has introduced its vision, "DRISHTI," for the fiscal year 2024-25. This forward-looking initiative aims to propel the Institute into pathbreaking initiatives in the realms of Digitalization (D), Research (R), Integrity (I), Skills (S), Handholding (H), Transparency (T), and Independence (I). The framework will not only guide the Institute but will also set the stage for formulating standards and directives concerning green finance and audits, thus bolstering eco-friendly practices and legislative advancements. This strategic approach aligns with the overarching goal of achieving a developed India by 2047, as envisioned through "Viksit Bharat @ 2047."

As our economy grows, we need to make the most of this opportunity and we hope the period spanning from 2024 to 2047 promises to be a golden era for our profession.

AI in ICAI

Artificial Intelligence is bringing path-breaking changes every second, to leverage the power of technology, for the first time, this year ICAI has formed a committee on “AI in ICAI” to explore how AI can be leveraged for the professional development of students, members, and employees. The committee will explore and make a roadmap for artificial intelligence in the operations of the Institute, which can make current processes faster and ultimately help our members and students. The main objective is to develop a foundational understanding of AI concepts, enhance proficiency in using AI tools relevant to both practitioners and industry professionals and build AI skills to effectively leverage AI technologies in professional practices.

ICAI CA GPT for Members (Beta Version)

ICAI CA GPT was launched by Honourable Minister Shri Nitin Gadkari Ji on 1st July,2024 in beta version for 7500 Members with access to 16 specialized GPTs. Further, it is now available to all Members free of cost. Till 5th Aug,2024, 35,000+ members have already registered and using the GPTs and total prompt has crossed 50,000.

ICAI CA Student GPT (Beta Version)

ICAI CA GPT for students was launched on July 16, 2024, during AI Innovation Summit – AIS 2024 held in Hyderabad, coinciding with Global AI Appreciation Day.This GPT will help to prepare students for exams by providing comprehensive study materials on a single platform and is available free of cost to all 9.85 lakh students.

There are three tailored versions specifically designed for students at the Foundation, Intermediate, and Final levels. These GPTs include previous question papers, study materials and other information.

Currently, over 18,300 students have registered for the CA Student GPTs and are actively using the GPTs. Out of these maximum students are of Intermediate level.

·         Foundation: 2,819

·         Intermediate: 10,040

·         Final: 5,470

Certificate Course- AI for Chartered Accountants

To support members and handhold them to learn AI, an exclusive Certificate Course on AI for Members was launched on July 16, 2024, during the AI Innovation Summit (AIS 2024) in Hyderabad. To further empower and upskill members, a publication featuring 100 AI tools tailored for financial and accounting functions, specifically designed for Chartered Accountants, was also unveiled.

The course aims to establish a foundational understanding of AI concepts, enhance proficiency in AI tools pertinent to both practitioners and industry professionals and develop AI skills for effectively leveraging these technologies in professional practices. The first batch of the Certificate Course on AI for Chartered Accountants (AICA) - Level 1 will commence on August 21. This initial batch, comprising 50 members, will be held at the Center of Excellence in Hyderabad. It is a comprehensive 3-day program that includes 9 modules and offers 18 Structured CPE Hours. Additionally, two more batches are planned to follow soon.

Launch of Publications of AI Tools for Chartered Accountants

The Institute has also launched ‘List of 100 AI Tools for Chartered Accountants’ which will serve as an AI knowledge gateway. This publication will act as a knowledge repository, providing a summary of each AI tool, its benefits for Chartered Accountants, information about the company, and the website of each AI tool.

AI Labs

ICAI is actively engaged in nurturing talent and fostering skill development by spearheading the establishment of AI Labs within its framework. AI Labs will serve as centers for cutting-edge research in artificial intelligence, fostering innovation and the development of new AI technologies. It will Facilitate collaboration between researchers, industry experts, and academia to advance the field of AI and develop practical applications.

AI Labs will also allow practical, hands-on experience with AI tools and technologies. Further, we will organize events such as seminars, conferences, and webinars to share knowledge, showcase research findings, and discuss the latest trends in AI. We also plan to publish research papers, articles, and reports on AI developments, contributing to the body of knowledge in the field.

By establishing AI Labs, ICAI can foster an environment of innovation and excellence in artificial intelligence, driving progress in both the academic and professional realms. These labs will play a crucial role in developing the next generation of AI technologies and professionals, ensuring that ICAI remains at the forefront of technological advancements.

Survey on AI in CA Firms

The AI Committee at the ICAI has successfully surveyed to understand the adoption and usage of AI in Chartered Accountant offices across the country. The survey depicts a scenario where optimism about AI’s transformative potential is mixed with inclination to adopt AI, which faces significant adoption barriers.

Based on the learnings from the survey, the ICAI will be moving towards building a cohesive ecosystem to improve adoption of AI to fully realise its transformation potential for finance and accounting, Through targeted training efforts, facilitating access to AI tools in collaboration with the industry, and demonstrating effective AI use cases, we aim to encourage members to explore and utilize AI, paving the way for more widespread and effective AI integration.

Launch of e-Office in ICAI for Sustainable Operations

Harnessing the power of technology to enhance productivity and streamline operations in order to serve our members and stakeholders better, ICAI on April 5th 2024 launched e-Office under the theme Service with Sustainability.

With the adaptation of e-Office, ICAI aims to go digital with paperless transactions ushering in more efficient, effective work processes. It will further reduce costs incurred in the storage and preservation of physical files and also reduce data loss. It shall also facilitate working from anywhere, anytime, thereby improving work efficiency.

The e-Office will be implemented in a phased manner, starting with integration within ICAI Committees before extending to regional offices, branches, and chapters abroad facilitating the smooth movement of papers and notes across all organizational levels. Its implementation will pave the way for a new era of revolutionizing our internal communication processes to better serve our community and planet.

UDIN Instilling Trust and Accountability

UDIN Report 2023-24 Unveils Trends and Insight of Economic Activities

Government entities including agencies like Indian Railways, CPWD, MCA, and other agencies are actively leveraging the UDIN Portal’s aid and facilitation to verify the authenticity of documents. Recently, various State Governments like the Governments of Assam, West Bengal, Maharashtra, and Odisha have applauded the UDIN Portal for verifying the authenticity of documents submitted by various stakeholders.  The novelty of the UDIN has been lauded by Smt. Droupadi Murmu, the Hon’ble President of India during her speech at 75th Chartered Accountants Day on 1st July, 2023.

As of 8th August 2024, over 7.08 Cr UDINs were generated, and 1.47 lakh Members have registered on the UDIN Portal. More than 2.22 Cr UDINs were verified by the Authorities / Regulators / Banks / Other

UDIN Accepted Nationally

•      For the first time, the Comptroller and Auditor General of India (C&AG) used the UDINs as one of the elements for the empanelment of CA firms/LLPs for the year 2023-24.   (CA&G provided a scoring mechanism for empanelment based on UDIN data: For the year 2023-2024, points will be awarded based on UDIN data of ICAI for the years 2020-2021 and 2021-2022. This will eventually be scaled to 5 years by 2026-2027 by gradually adding one year on an annual basis.)

•      Real Estate Regulatory Authority (RERA) authorities of many states have already included a column for mentioning UDIN in the certificates/forms issued by CAs. (CG-RERA approached the ICAI to provide an API to verify the UDINs on a real-time basis for their usages.)

• The Central Bureau of Communication (CBC), Government of India approached ICAI, for placing systematic reliance on UDIN to assess the veracity of the information certified by Chartered Accountants in the prescribed format for the empanelment of the news agencies based on circulation and rates. The certified information by a Chartered Accountant becomes a basis for empanelment of the news agencies.

• The Ministry of Corporate Affairs appreciated the initiative of ICAI for bringing this concept of UDIN which will eradicate the practice of bogus certificates and save various regulators, banks, etc. from being misled.

•      Department of Telecommunications, Office of the Principal Controller of Communication Accounts, Kolkata has conveyed that while reviewing and assessing the Documents submitted by ISPs (Internet Service providers) the department has benefited immensely from using UDIN.

• The Central Board of Direct Taxes (CBDT) has highly appreciated the concept of UDIN which will enable the regulators to easily verify the authenticity of the documents certified by CAs and have mandated the validation of the UDINs in all the IT forms and Tax Audit Reports filed by CAs at the e-filing portal. CBDT has provided the facility of bulk updation of UDIN at the e-filing portal for all the IT forms including 15 CB forms.

• The Indian Banks' Association (IBA) has communicated to all the Banks to Impress for UDIN in all certificates certified by CAs submitted to them.

• The Securities and Exchange Board of India (SEBI) has included a column for mentioning UDIN in their forms issued by CAs.

•      Various State Governments have mandated mentioning UDIN in Form II (for judging financial capability) submitted by the bidders participating in their tender process. They have also been verifying the authenticity of the documents received from the UDIN Portal.

Additionally, Government entities including their agencies like Chittaranjan Locomotive Works (CLW), Indian Railways, Central Public Works Department, Ministry of Corporate Affairs, Mumbai, and other agencies are actively leveraging the UDIN Portal's aid and facilitation to verify the authenticity of the facts stated in the signing documents.

Recently, various State Governments like PHED & Mission Director, Jal Jivan Mission (JJM), Government of Assam, Govt. of West Bengal, Govt. of Maharashtra, and Govt. of Odisha have applauded the facilitation of the UDIN Portal to verify the authenticity of the reported documents submitted to them by the stakeholders.

International Recognition of UDIN

Collaborating with the National Board of Accountants and Auditors (NBAA), Tanzania, and the Institute of Chartered Accountants of Nigeria for adoption and

implementation of ICAI’s UDIN in the respective countries.

*         ICAI heads the SAFA Task Force to implement the UDIN in SAFA Member Bodies.

Partnering Government

*         ICAI is working closely with the Ministry of Corporate Affairs to enable smooth transition from MCA 21 V2 to MCA 21 V3 and currently, is involved in the following Key Initiatives as enumerated below:

*  A dedicated team is currently engaged in User Acceptance Testing (UAT) for the third lot of Companies Form.

*  The Ministry of Corporate Affairs (MCA) has requested feedback from the ICAI on the post-production issues of the forms that have been launched in the version-3 portal. Accordingly, to gather feedback, initiated targeted engagement with 5,000 members who previously raised issues with the ICAI, conducted virtual meetings, reached out to all India Members, requesting them to provide feedback and report any issues they encounter while filing forms in MCA21 Version via a Google Form.

·         Suggestions to the Ministry of Corporate Affairs on Simplification of Companies' Rules under the policy for pre-legislative consultation

The Ministry of Corporate Affairs has initiated comprehensive review of Company Law Rules and LLP Rules. As part of this initiative, it has requested the Institute of Chartered Accountants of India to provide valuable suggestions and insights.

Accordingly, a multifaceted approach has been undertaken by CL&CGC of ICAI wherein dedicated expert groups have been created to analyze and prepare comprehensive comments on the proposed revisions to the Rules, Series of outreach programs have been conducted across the Regional Councils and branches to disseminate information and actively solicit feedback from members.

After a comprehensive review, the ICAI suggestions on simplification of Companies Rules, 2014 have been submitted to the Ministry of Corporate Affairs on 01.04.2024

·         Institutionalizing accounting and financial management reforms in 60 ULBs across Uttar Pradesh -United States Agency for International Development (USAID) desired to collaborate with ICAI ARF for institutionalising accounting and financial management reforms in 60 Urban Local Bodies (ULBs) across Uttar Pradesh in a phased manner with 10 ULBs being taken up in first phase to enable them to take advantage of diverse infrastructure financing options The proposal has been approved by ICAI ARF.

ICAI collaborated with the Comptroller and Auditor General of India (C&AG) to jointly conduct Certificate Course for Accountants of Panchayats and Municipal Bodies

ICAI entered into a Memorandum of Understanding (MoU) with O/o C&AG on 9th August 2023 to collaborate on accounting and auditing issues and strengthen the accountability mechanism for good governance in local self-government. In pursuance of this MoU, the Certificate Course for Accountants of Panchayats and Municipal Bodies was launched to make available skilled & trained accountants at grassroots level to improve accounting of Local-self Government in India. 

Eligibility criteria –Minimum 18 years of age and 12th Pass in any stream

Duration of the Course - 4 Months

Fees - Rs. 500+ taxes (i.e., Rs. 590/-)

Registration Process – Online registration at https://lba.icaiarf.org.in/. (Registration will be open throughout the year and batches are closed every year on 31st December and 30th June.)

The mode of learning is online and can be done anytime, anywhere, and in 11 languages (Hindi, English, Marathi, Tamil, Odiya, Gujarati, Punjabi, Bengali, Kannada, Assamese and Telugu).

The list of qualified candidates is to be made available in the public domain so as to enable panchayats and municipal bodies to engage them.

First Batch: Total 609 candidates have registered for 1st batch. 

1st Screening examination was held on 18th April 2024 in which 364 candidates had appeared. ICAI’s Robust Examination System was replicated for this examination. The result was declared on 10th May 2024 in which 232 candidates were passed out of 364 (pass rate 63.56%). 1st main exam and 2nd screening exam are being scheduled in 1st week of August 2024.

Second Batch: 1138 candidates have registered for the 2nd batch. 

Third Batch: Registration has been commenced from 1st July 2024.

·         ICAI submits a Pre-Budget Memorandum to CBDT advocating Tax incentives for entities undertaking Green Projects and propose exemption for interest income of subscribers of green bonds issued by such entities. In line with the Government’s campaign to promote education of the girl child, a separate provision for deduction of expenses relating to education of girl child both under the default tax regime and alternative tax regime has been suggested in the Memorandum. The Pre-Budget Memorandum 2024 emphasizes the importance of rationalizing direct tax laws, minimizing litigation, and enhancing tax collection mechanisms, all geared towards fostering a conducive fiscal environment for the year 2024-25.

·         Aligning with mission ‘VitiyaSaksharta’ in the country, ICAI Organized Finfluencers Meet to reach out to masses to spread financial literacy wherein 41 prominent social media influencers like CA. Rachana Ranade, CA. Rahul Malodia, CA. Kushal Lodha, CA. Twinkle Jain, CA. Jay Desai and many others participated.(Surveys reveal that only 27 per cent of India's population is financially literate. Additionally, only 16.7 per cent of Indian students have a basic understanding of finance and money management.)

Supreme Court Verdict on Tax Audit Limit under Section 44AB of Income Tax Act, 1961

·         The Hon’ble Supreme Court of India delivered a significant judgment on May 17, 2024, in the case related to the Tax audit limit under Section 44AB of the Income Tax Act,1961 imposed by ICAI through its guidelines, The Hon’ble Supreme Court upheld ICAI’s powers and competency to issue the said guidelines, affirming them as reasonable restrictions in public interest which is permissible under Article 19(6) of the Constitution.

·         The Court declared that these restrictions do not infringe on the right to carry on profession under Article 19(1)(g) of the Constitution. The key conclusions from the judgment are the Court validated Clause 6.0, Chapter VI of the Guidelines dated August 8, 2008, issued by the ICAI, which restricts the number of tax audits a CA can undertake. Though the guidelines are valid, the Court specified they are deemed not to be given effect till 01.04.2024.

Research  Initiatives

Academia Meet and Interactive Discussion on Research Advancements

The Institute of Chartered Accountants of India (ICAI) through its Research Committee has organized the Academia Meet on 17th May 2024 with Universities / Institutions to facilitate a platform for interaction and knowledge exchange between esteemed academicians to foster research advancements.ICAI is actively working towards strengthening research studies spanning a broad-spectrum encompassing accounting, assurance, taxation, finance, technology, and business advisory services. These concerted efforts are not only aimed at fortifying our economic landscape but also at positioning India at the forefront of global innovation and progress.

ICAI also organized Interactive Discussion on Research Advancements on 30th May 2024. Chartered Accountants from all across the country having research background converged to discuss new areas of research focusing on the profession contributing to the growth of the economy. This was first-of-its kind meeting wherein members with doctorate/ Research background came together for brainstorming session and sharing insights to strengthen the research work.

Centre of Excellence (CoE)

The Centre of Excellence (CoE), established by ICAI aims to foster research, innovation and learning having global recognition. In this direction, the Centre of Excellence Directorate has prepared a comprehensive policy. The policy document encapsulates research, teaching and learning, training, dialogue with stakeholder, and other strategic planning efforts aimed at outlining the vision, mission, goals, objectives, governing structure, action plan and monitoring benchmark for ICAI - Centre of Excellence.

At present ICAI has 2 CoEs at Hyderabad and Jaipur. Further, ICAI plans to open 9 more CoEs across the country in the next 3 years fostering Research, Innovation and Skill-building.

Construction of Centre of Excellence at Kolkata is in progress and will be inaugurated by December 2024. Others are proposed to be set up in Chennai,Guwahati,Bengaluru, Sonipat, Mumbai/ Pune, Ahmedabad/ Gandhinagar, Jammu and Lucknow/ Kanpur.

Practice ki 

To improve practice management skills, equipping participants with effective client management, communication abilities, and financial expertise to optimize firm operations, ICAI has designed a three-days residential course named ‘Practice ki ???????’. 3 batch of this course were conducted, which was attended by around 150 Members.

Expansion of National Network

In an effort to expand its national presence of ICAI, the Council approved setting up of a new branch of the Central India Regional Council (CIRC) in Tonk District, Rajasthan. The Tonk District Branch will be 176thBranch in the ICAI’s network of branches. Additionally, in view of the name change of Aurangabad to Chhatrapati Sambhajinagar by the Central Government, the Aurangabad Branch of WIRC has been renamed as Chhatrapati Sambhajinagar Branch.

MoUs with GIFT and IFSCA

ICAI has signed MoUs with Gujarat International Finance Tec-City Company Limited (GIFTCL) and the International Financial Services Centres Authority (IFSCA) to forge global collaborations to strengthen India’s Financial Landscape.

The MoU with GIFT City aims to create opportunity for profession by strengthening their skill sets on topic related to International Financial Services Centre (IFSC) business and regulations and to facilitate research in the field of international financial services for GIFT IFSC.

The MoU with IFSCA aims to enhance collaboration and promote financial excellence by jointly organizing international and domestic events, conferences, seminars and roundtable meetings and harnessing the expertise of both entities to bolster the financial landscape in India and on the global stage.

Further, IFSCA has formed an Expert Committee under the Chairmanship of President ICAI tasked with developing GIFT IFSC into a Global Finance and Accounting Hub. IFSCA Expert Committee has prepared a report and submitted to Chairman, IFSCA on 26th March 2023 at Ahmedabad. The Committee proposes a new law for bookkeeping, accounting, tax, and financial crime compliance services which would defines these services, restricts how companies can be set up, and the qualification of key personnel of these entities. It also encourages training and attracting international partnerships to make the GIFT IFSC a success.

Report submitted to IFSCA

The Committee proposed a new law for bookkeeping, accounting, tax, and financial crime compliance services which would defines these services, restricts how companies can be set up, and the qualification of key personnel of these entities. It also encourages training and attracting international partnerships to make the GIFT IFSC a success.

IFSCA has drafted the IFSCA (Book-keeping, Accounting, Taxation, and Financial Crime Compliance Services) Regulations 2024, which outlines the regulatory framework for the provision of these services within the IFSC. The same was put for public comments by IFSCA on 26th March 2024.ICAI members on pan India basis were invited to provide comments and suggestions on the Consultation Paper for the Draft IFSCA (Bookkeeping, Accounting, Taxation, and Financial Crime Compliance Services) Regulations 2024. Subsequently, we have received various suggestions and same was submitted for consideration of IFSCA on 16th April 2024.

The development of financial services within GIFT IFSC is instrumental in positioning India as a prominent Accounting and Finance Hub by attracting global talent and investment, enhancing financial transparency and compliance, facilitating cross-border transactions, creating high-value job opportunities, fostering technological innovation, and supporting government revenue and infrastructure development. Collectively, these factors contribute to the growth and prosperity of the Indian economy.

Committee for Aggregation of CA Firms

In order to make Indian CA Firms bigger, Committee for Aggregation of CA Firms (CACAF) has been formed by ICAI to bring ease to the practicing firms in networking so as to tap the synergies of the combined strength and resources.

For this, the CACAF would make concerted efforts in reviewing and revising various guidelines pertaining to firms, viz., Domestic and Overseas Networking guidelines, Merger & Demerger rules & guidelines, Multi-Disciplinary Partnership Guidelines, guidelines on Management Consultancy Services in corporate form, guidelines on Website, Advertisement and Mobile applications for various attest & non-attest functions among others in cognizance with the current operating environment. The overall aim is to provide ease of growing practice and facilitate the Indian CA Firms grow bigger.

We are making concerted efforts in aggregation of Indian Accounting Firms. In this regard, a Networking Summit on the theme Accelerating and Maximizing Practice was conducted at Udaipur. We have also issued Exposure Draft of Merger and Demerger Guidelines as well as a new model of LLP Firms Network for Public Comments.

Peer Review

ICAI has always been striving to drive several initiatives to improve the quality of assurance services rendered by its members. Peer Review has been one such step in that direction, over the years. The Council of ICAI has been working diligently to improve the quality of assurance services provided by its members. Recently the Council decided that grace period may be granted to the Practice Units covered under Phase II of the Peer Review Mandate up to 30.06.2024 and extension has been granted to the Practice Units covered under Phase III of the Peer Review Mandate upto 31.12.2024. 

Further, 35 Physical Peer Reviewers Training Programs were conducted so far in this year.

Professional Skills Enrichment Committee

In a first of its kind initiative, ICAI has set up the Professionals Skills Enrichment Committee this year, with an aim to enable all Members to realize their complete potential. The Committee would work towards understanding requirements, Assess the present skills gap amongst all Chartered accountants and enable actions to enhance their competence and improve their visibility amongst the stakeholders.

The key skills to be covered are Branding skills, Communication skills, Critical thinking skills, Design Thinking, Emotional Intelligence, Entrepreneurial Skills, Inter-personal skills, Leadership skills, Listening Skills, Negotiation skills, Networking skills, Problem Solving skills, public speaking skills, Team Building skills, Time Management, Work Ethics any other skill and new age, contemporary & other professional, technical and technological skills.

Phoenix Marketcity Announces India's Largest Electronics Fest With Unbeatable Offers And Exciting Prizes

Phoenix Marketcity, the lifestyle destination of Whitefield, announced the Phoenix Electronics Fest, starting from August 1st- till 19th August 2024. This grand event promised unbeatable deals and special offers on a wide selection of electronic products from over 13 top brands, making it the go-to destination for tech enthusiasts and savvy shoppers.

The Phoenix Electronics Fest featured exceptional discounts and promotions on leading brands, including Reliance Digital, Croma, Dyson, Aptronix, HP, Bose, Vivo, MI, Samsung, Lenovo, Oppo, Cex, and Mobikins. Committed to delivering outstanding value, Phoenix Marketcity aimed to transform the shopping experience for electronic goods.

Adding to the excitement, customers who spent ?10,000 or more on participating brands were assured a silver coin. This limited-time offer added an extra layer of thrill to the shopping spree, ensuring that every purchase was more rewarding.

The Phoenix Electronics Fest offered shoppers a chance to win an array of premium electronics, including TVs, refrigerators, mobile phones, and more. With multiple lucky draws throughout the event, attendees had plenty of opportunities to take home top-notch tech prizes.

Highlights of the Phoenix Electronics Fest:

Exclusive Discounts and Offers: Shoppers enjoyed significant savings on a wide range of electronics from top brands.

Opportunity to Win High-End Electronics: Shoppers who participated in the event's lucky draws had a chance to win premium electronic products.

Spotlight on Top Technology Brands: The fest showcased leading technology brands, providing shoppers with the latest products and innovations in the electronics sector.

About Phoenix Marketcity Bengaluru 

Classified as a “Larger Lifestyle Engagement Destination”, Phoenix Marketcity Bengaluru offers visitors, an array of unforgettable experiences. With its truly international look and feel, and tastefully done interiors. Phoenix, which has the best food, fashion, and entertainment worldwide, remains the destination for premium discerning customers of the city as well as expats. With over 300 stores, representing an exhaustive mix of International, National, and Regional premium brands, the mall offers the most comprehensive and compelling lifestyle shopping experience in Bangalore. More than just a Mall, Phoenix Marketcity, Bengaluru is in fact a veritable melting pot of fascinating cultures, beautiful clothing, and high-end couture. It is a city within a city, an urban space where retail, entertainment, and leisure offerings co-exist.

India Sees Alarming Rise In Gynaecological Cancers Among Young Women; Top Robotic Gynaecological Surgeons' Forum

-          They emphasized the need for further adoption of robotic-assisted surgery (RAS) by surgeons and other healthcare providers to tackle it

At New Delhi today, the top robotic-gynaecological surgeons from India, informed that India is currently experiencing a concerning rise in gynaecological cancers among younger women, underscoring an urgent need for spreading more awareness about preventive measures, importance of early screening and enhanced adoption of advanced treatment options like robotic-assisted surgery. In response to this growing challenge, the Association of Gynaecological Robotic Surgeons of India (AGRS) is set to explore innovative advancements in robotic-assisted surgery (RAS) to improve the management of these complex cases and enhance patient outcomes. As a part of that, they are conducting an international conference, RoboGyn India 2024, in New Delhi. This distinguished event will bring together leading national and international experts in robotic-assisted surgery within gynaecology and gynaecological oncology.

While talking about the rising trend of gynaecological cancers, Dr. Rama Joshi, a leading Gynae Onco robotic surgeon and the Organizing Chairperson of RoboGyn India, said “We are witnessing a rise in gynaecological cancers among younger women in India, a trend that is both distressing and demanding of our attention. For instance, we are seeing more incidences of endometrial cancer among young women in their early 30s, a condition traditionally seen in post-menopausal women. Rapid urbanization and lifestyle changes in India, including sedentary habits, high-calorie diets, and increased stress levels, have significantly impacted women's health”.

While talking about the ways to tackle it, she said, “Regular check-ups and screenings play a critical role in the early detection and management of such gynaecological conditions. Any patient coming with excessive or irregular bleeding must be evaluated to exclude uterine cancer. These proactive health measures allow for the identification of potential issues before they progress to more severe stages, significantly improving treatment outcomes. Robotic-assisted surgery with advanced technologies like da Vinci has emerged as a crucial tool in addressing these complex cases. We could even save a woman in her early pregnancy with a complex ovarian tumour, without harming the foetus, by using this technology. However, we need more surgeons and other healthcare professionals to get trained on this technology, to make it available for all eligible patients across the country.”

The leaders from the gynaecological robotic surgeons’ forum also discussed about, obesity becoming a major public health concern in India. In obese patients, the surgical risk is very high. In order to reduce Morbidity, and extend the improved quality of life, the focus is changing to the use of technology.

Dr. Peter Lim, Medical Director at the Center of Hope Robotic & Minimally Invasive Pelvic Surgery and Clinical Associate Professor at the University of Nevada Reno School of Medicine, USA, said “Robotic-assisted surgery offers numerous advantages in the management of gynaecological cancers, even in obese patients. The technology provides unparalleled precision, allowing for meticulous dissection and better visualization of the surgical field. These benefits translate into reduced recovery times, fewer complications, and overall improved surgical outcomes. As we confront the rising incidence of these cancers, the ability to perform such precise and minimally invasive procedures becomes increasingly valuable. We are here to showcase the latest advancements and discuss how we can further harness robotic technology to combat these challenges.”

Dr. Rooma Sinha, the President of AGRS, added, "We are not able to provide advanced surgical technologies like RAS to women across the country due to various reasons. One of them is the lack of enough number of trained RAS gynecological surgeons in India. Through this association, we are trying to close this gap by introducing RAS to more surgeons. The foremost objective of this initiative is to train more surgeons on RAS and create a pathway towards achieving enhanced clinical outcomes for women. AGRS has been in the forefront of training more gynaecologists in RAS. By harnessing the exceptional capabilities of RAS systems such as the da Vinci, our surgeons can adeptly navigate through the intricacies of gynaecological disorders that require complex surgical interventions.”

Another world-renowned robotic surgeon, Dr. Tae Joong Kim, Professor Department of Obstetrics and Gynecology, Samsung Medical Center, Sungkyunkwan Univ. School of Medicine, South Korea emphasized the need for integrating robotic surgery into medical education. “Incorporating robotic-assisted surgery into the postgraduate curriculum is imperative for preparing the next generation of surgeons. As robotic technology continues to evolve and become a standard in surgical practice, it is crucial that upcoming practitioners are well-trained in its use. By integrating robotic-assisted surgery into medical education, we can ensure that future surgeons are equipped with the necessary skills and knowledge to utilize this technology effectively. This approach will not only enhance their proficiency, but also contribute to better patient care and surgical outcomes,” he said.

Kotak Mahindra Bank Announces Appointment Of Kedarswamy Ravangave As Head of Marketing For Consumer And Commercial Bank

Kotak Mahindra Bank Ltd (“KMBL” / “Bank”) announced the appointment of Kedarswamy (Kedar) Ravangave as Head of Marketing for Consumer and Commercial Bank.

Kedar joins Kotak Mahindra Bank from Amazon India, where he was a pivotal member of the leadership team, driving marketing, brand, and category initiatives. With extensive experience across esteemed organizations like Marico and Amazon India, Kedar brings a wealth of knowledge and expertise to Kotak. He holds a B.Tech in Electronics and Communication from Malaviya National Institute of Technology Jaipur and an MBA from Symbiosis Institute of Business Management, Pune.

Kedar will be working closely with Consumer and Commercial Bank business teams on driving marketing initiatives and shall report to Rohit Bhasin, President, Head – Propositions & Chief Marketing Officer, Kotak Mahindra Bank.

Rohit Bhasin said, "We are delighted to welcome Kedar to the Kotak family. With his extensive experience in e-commerce and FMCG, and his proven track record in marketing, Kedar will be instrumental in our efforts to build Kotak as the go to financial services brand for the Aspirational Indian. His leadership and innovative approach, combined with his strong focus on customer centricity, will help us navigate the dynamic market landscape and achieve our strategic objectives ".

Kedarswamy Ravangave, Head of Marketing for Consumer and Commercial Bank, Kotak Mahindra Bank, expressed enthusiasm about his new role, stating, "I am thrilled to take on this challenge and work for a brand in the BFSI sector. The banking industry is dynamic and constantly evolving, with technology at the forefront. I am grateful for this opportunity and eager to contribute to the bank's growth journey. I look forward to collaborating with the talented team at Kotak in the journey to continue to build a strong, innovative, and customer-centric brand."

About Kotak Mahindra Bank Limited

Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Limited.

The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking, and Treasury, which cater to retail and corporate customers across urban and rural India. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on 30th June 2024, Kotak Mahindra Bank Ltd has a national footprint of 1,965 branches and 3,279 ATMs (incl. cash recyclers), and branches in GIFT City and DIFC (Dubai). For more information, visit the company’s website at https://www.kotak.com/

Windergy India 2024 Highlights India’s Vision For A Sustainable Future

India, a global leader in wind power, currently ranks fourth in Wind Energy Installation globally and continues to witness remarkable progress in the renewable energy landscape. As of June 2024, India's installed wind power capacity exceeds 46,656 MW, making it one of the largest producers and advocates for developing wind energy, both indigenously and globally.

The wind energy sector significantly contributes to India’s renewable energy targets and offers various socio-economic benefits. Wind farms create employment opportunities, especially in rural areas, during the construction and operation phases. Moreover, wind energy helps reduce greenhouse gas emissions, improve energy security, and provide access to clean electricity.

With a coastline exceeding 7000 kms holding the potential to generate 500 GW of offshore wind capacity, Tamil Nadu and Gujarat have ambitious plans to contribute to the Net Zero 2070 target. Both the central and state governments actively work on the policy and regulatory framework to streamline the development process, ensure environmental sustainability, and attract investments in this sector.

Recently, the Union Cabinet approved 1 GW offshore wind energy projects in Gujarat and Tamil Nadu, with a total outlay of Rs 7,453 crore. The aim is to produce 3.72 billion units of renewable electricity annually and reduce 2.98 million tons of CO2 equivalent emissions annually for 25 years, according to the government. This decision highlights India's commitment to building and empowering the country’s energy requirements solely on renewable and sustainable resources.

Technological advancements enable the installation of larger wind turbines with higher capacities, leading to substantial growth in the overall capacity of wind power projects across the country. The winds of change are evident, but they also need direction to unify efforts. This is where Windergy India has revolutionised the industry, marking a milestone that changed the wind energy game in the nation.

Windergy India 2024, the premier industry platform dedicated to the wind energy sector, is set to showcase its immense potential and lucrative opportunities for the sixth time, from 23-25 October 2024 at the Chennai Trade Centre, Tamil Nadu. Windergy India, recognised recently as India’s Fast-Growing Show at the Exhibition Excellence Awards 2024, brings together innovators, policymakers, regulators, and key players in the wind energy industry. The Indian Wind Turbine Manufacturers Association (IWTMA) hosts this event in collaboration with PDA Ventures Pvt Ltd, a Bengaluru-based Trade Fair Organiser.

In its sixth edition, Windergy India 2024 is supported by the Ministry of Power and the Ministry of New and Renewable Energy. The three-day trade fair and expo, under the aegis of the Make in India initiative, will feature representations from wind-rich states such as Karnataka, Andhra Pradesh, Telangana, Maharashtra, Gujarat, and Rajasthan.

Windergy India will also host pavilions from Denmark and Spain, demonstrating their dedication to collaborating with India in advancing the wind energy sector. The United Kingdom will join the expo as one of the partner countries, with more countries in the pipeline. The trade fair will showcase exhibitors from various countries, including Germany, Spain, France, the United States of America, China, Sweden, Norway, Italy, the Netherlands, Switzerland, Brazil, and Japan, making Windergy India a truly global event.

Windergy India aims to bring together the entire wind energy ecosystem. Industry stakeholders like Envision Energy will associate with Windergy India 2024 as our Platinum Partner, while Suzlon Energy and Ever renew Energy Pvt Ltd will be the Silver Partners. Other partners include Winergy, LM Wind Power, NeXHS, Exxon Mobil, Leap Green Energy, and UL Solutions. We are also proud to gain the invaluable support of esteemed associations such as Wind Independent Power Producers Association (WIPPA), International Solar Alliance (ISA), Skill Council for Green Jobs (SCGJ), Green Hydrogen Association (GHO), Indian Energy Storage Alliance (IESA), Indian Wind Power Association (IWPA), Solar Energy Corporation of India (SECI), Composites Excellence Centre of Asia (CECA), Danish Energy Export, and Hydraulic Trailer Owners Association (HTOA). Our partnerships and tie-ups with esteemed national and international associations will play a crucial role in bringing together wind energy professionals from India and around the world.

Windergy India 2024 will feature approximately 300 exhibitors, with an expected visitor count of 10,000 this year. Our exhibitors comprise Original Equipment Manufacturers (OEMs), Component Manufacturing, Composites, Drones, Electrical Components, Fibre Optic Attenuators, Filtration, Gripping Solutions, Hydraulics, Industrial Automation, Industrial Equipment, Aluminium Material Coating, Independent Power Producers (IPPs), Laser Projection Systems, Lifts, Cranes, Logistics Solutions, Lubrication, Mechanical Power Transmission Products, Offshore Engineering, Service Providers, Software Solutions, Technical Consultants, and the Media. Some prominent exhibitors at Windergy India 2024 include Adani Winds, Jindal Steel and Power, Nabros Transport, Mtandt Group, Drives & Drives, IRM Offshores & Marine Engineers, RS Windtech Engineers, Windplus, WEG Industries, and Sany Winds.

Windergy India 2024, while highlighting the need for technology and innovation, will bring together industry leaders, policymakers, investors, and innovators to explore the latest trends, technologies, and business opportunities in the domain. With a large exhibition area hosting the trade fair, conferences, and round tables, the event promises to be an unparalleled gathering of thought leaders and game changers driving the sustainable energy revolution. The Conference topic for Windergy India 2024, 'Wind: Powering India’s Energy Transition,' represents our commitment to driving India’s journey towards a sustainable and greener future. The conference is designed to be a platform for disruptive thoughts and ideas with a series of informative panel discussions focusing on policy and regulatory frameworks, market trends, financing options, and cutting-edge technological advancements.

Windergy India has experienced tremendous growth since its debut in 2012 as a biannual show, and it is now organised annually. The expo has reached another milestone in its journey with its sixth iteration, with the organisers adding another hall to accommodate the growing interest and space requests from exhibitors.

The event serves as a platform for knowledge exchange, business networking, and showcasing the latest advancements in the wind power industry. We invite all stakeholders, professionals, and enthusiasts from the wind power sector to join us at Windergy India 2024 and be part of the renewable energy revolution.

PMJ Jewels Two New Stores Launched In Bengaluru

* The new stores at Marathahalli and Phoenix Market City Mall host never-seen-before handcrafted designers for all occasions in diamond, gold and polki designs

PMJ Jewels, South India’s most loved fine jewellery brand, today launched two new stores in Bengaluru. The 1st new store of PMJ Jewels is located at 1st Floor, Novel MSR Park, Marathahalli and the 2nd new store at LG-55, Phoenix Market City Mall.

Kiran Shinde, CFO - PMJ Jewels and Mahendra Singh Bhadouria, Business Head, PMJ Jewels along with their elite customers inaugurated the new store at Marathahalli. These are PMJ’s 36th & 37th stores in South India and 5th & 6th stores in Bengaluru, as part of the brand’s aggressive expansion plans.

The new stores at Bengaluru promise to be iconic destinations for high-end jewellery, offering designs ranging from Heritage to Contemporary Diamond to Traditional Temple jewellery. The stores will be hosting never-seen-before handcrafted designer wedding jewellery in diamond and gold designs. Jewellery at PMJ has always stood as an epitome of classic glamour, a significant fashion essential and carries generations worth of sentimental value while making for distinct markers of love and tradition. The stores will also have exclusively crafted designs across diamonds, gold, solitaires along with exclusive Polki collection, and special wedding jewellery ranging from extravagant to simple, traditional to modern and also everyday light wear creations with a focus on region specific jewellery keeping in mind the discerning jewellery enthusiasts of Bengaluru.

Expressing their joy at the inauguration of the new stores Kiran Shinde, CFO - PMJ Jewels and Mahendra Singh Bhadouria, Business Head, PMJ Jewels said, “We are honoured to be inaugurating our new stores with our customers. Both our stores will be hosting unique bridal collections which will host a great opportunity for jewellery lovers to come and witness a visual extravaganza. We invite all the brides, bridesmaids, relatives and all jewellery enthusiasts to visit this beautiful display of the latest collection at our newly launched stores. We strongly believe every visitor who comes to the store will love our latest and exquisite designs and we promise a wonderful experience to cherish.” 

Competition Frameworks Should Prioritise Domestic Realities To Enhance India’s Economic Growth

* Enabling frameworks based on local experiences can spur innovation and growth in the country

The Dialogue hosted its 2nd Annual International Conference on ‘Competition Law in the Digital Age: Contextualising Global Experiences’, to discuss the role of technology markets in national and global economies and the approach of competition law and policy towards them. The event was attended by eminent personalities from inter-governmental organisations, international scholars and domain experts.

The experts emphasised the need to test frameworks that prioritise domestic realities and are customised to India’s needs. Most highlighted the necessity of tailoring competition laws to reflect the unique economic, social, and technological contexts of individual countries. 

Lazar Radic, Senior Scholar for Competition Policy at ICLE and Adjunct Professor of Law at IE Law School, said, “The Digital Markets Act (DMA) primarily focuses on business users and platforms, emphasising ‘fairness’. However, consumers and efficiencies are not part of the equation. While some may believe Europe’s approach will inevitably influence global standards, this isn’t always the case. Europe’s strategy, including its push for digital sovereignty, reflects a form of protectionism that diverges from traditional free market principles. Therefore, other countries with different priorities or free market inclinations need not adopt similar rules. Unlike broad competition laws, the DMA resembles industrial policy, allowing countries to either opt-out or develop alternative frameworks.”

Stakeholders in the Global South called for a more localised approach to developing competition policies rather than disproportionately relying on frameworks of the developed world, adding that while insights from these regions can be valuable, reliance on them should be minimal. 

Dr. Amar Patnaik, Former Member of Parliament (Rajya Sabha), said, “In the past two years, a lot has happened. For instance, the Competition Amendment Act 2023 has been enacted. At times, stakeholders have mentioned that the Competition Amendment Act is well-equipped to regulate digital market concerns. On the other hand, it has also been said that the amendments may not be sufficient, and a new law is necessary. While we explore new laws for tech markets, it is worth examining whether the Competition Amendment Act can effectively address these issues of the digital markets. The Parliamentary Standing Committee (PSC), in which I was a member, advocated for ex-ante legislation for combating anti-trust issues in the digital space, particularly the Big Tech. This interplay between the amendments and the Digital Competition Bill (DCB) should be looked into. Such interplay exists between the Competition Law and the Consumer Protection Act and the now enacted, Digital Data Protection Act. Time is ripe for principle-based legislations to build trust and the rules can evolve over a period of time as technology evolves.”

Rahul Rai, Partner, Axiom5, added, “India has a thriving startup ecosystem that drives our focus on promoting and protecting these businesses. In contrast, Europe lacks such an ecosystem and is focused on creating one, while America, having a robust startup environment, aims to address issues within its own market before expanding its approach. We need to consider similarly, how the priorities and experiences of the Global South countries can also be conceptualised in a similar manner.”

Panelists also discussed the necessity of considering how competition regulations in digital markets can impact consumer welfare and the growth prospects of nascent businesses. Notably, The Dialogue announced a survey-based paper examining the potential implications of India’s proposed Digital Competition Bill for business users in the country. Preliminary observations from the study note that 88.8% of business users believe that the digital services they use are important for the success of their business. Therefore, any law regulating digital services should be mindful of their significance to business users, including startups and MSMEs.

Experts agreed that going forward, any policy introduced by the Global South, generally and India specifically, should be cognizant of the country’s domestic realities and the policy’s potential implications for consumers and SMEs.

Rapido And TotalEnergies Marketing India Private Limited (TEMIPL) Join Forces To Empower Over 4 Lakh Auto Captains In India

Rapido, India's leading bike, auto, and cab aggregator platform, has partnered with TotalEnergies India Private Limited (TEMIPL) to boost the earnings and well-being of Rapido's auto captains, beginning with immediate fuel savings of up to 12% and advancing the use of Auto LPG as a cleaner fuel in six South Indian cities. This partnership marks a pivotal step towards creating a more sustainable and driver-centric ecosystem in the ride-sharing industry. Beyond fuel savings, Rapido and TEMIPL will jointly introduce a range of benefits, including vehicle maintenance facilities such as oil top-ups and brake checkups, regular servicing support like wheel alignments, exclusive loyalty programs, and other value-added services designed to improve everyday experience of auto captains.

“Our auto captains are the heart of Rapido, and their success is our priority,” said Pavan Guntupalli, Co-founder, Rapido. “By joining forces with TEMIPL, we are not only augmenting savings for the driver but also investing in their long-term growth and well-being. This partnership is a testament to our commitment to creating a sustainable and rewarding platform for our drivers.”

Subramaniam Ramaswamy, Deputy CEO, LPG Division, TEMIPL added, “We are excited to partner with Rapido in their mission to empower auto captains. This collaboration aligns perfectly with our commitment to providing innovative energy solutions and supporting local communities. By optimizing Auto LPG consumption and offering additional benefits, we aim to contribute to a more sustainable, safe and efficient transportation ecosystem.”

This partnership will benefit over 4 lakh auto captains present across 6 cities which include Bangalore, Hyderabad, Chennai, Coimbatore, Mysore and Salem. By combining Rapido’s deep understanding of the ride-sharing industry with TEMIPL’s expertise in energy solutions, the two companies are set to redefine the standards of driver welfare, safety, and sustainability in the sector.

Students From Goa And East Bengaluru Schools Win TCS InQuizitive 2024 Bengaluru Edition

* TCS InQuizitive will be held for high school students across 12 cities, with the aim to enhance intellectual curiosity and technology skills of the country’s brightest minds

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) witnessed enthusiastic participation from over 800 students across 200 schools at the Bengaluru edition of its flagship annual quiz, TCS InQuizitive. The event was open to students from classes 8 to 12 and showcased the intellectual prowess of the city’s youth.

After an intense five rounds of quizzing at the regional finals in Bengaluru, Vighnesh Shetye, 16, from Mushtifund Aryaan Higher Secondary School in Goa emerged as the winner, while Nithilan Ravikumar, 17 from Delhi Public School in Bengaluru East secured the runner-up position. The two students will now represent Bengaluru in the National Finals, competing with champions from 11 other regional rounds from across India. The prizes were distributed by the guest of honour, C.K. Venkataraman, MD of Titan, along with Sunil Deshpande, Regional Head, TCS Bengaluru.

“It is impressive how TCS is pushing relevant and futuristic knowledge at schools as early as 8th grade, building an amazing tech ready talent for the future. The level of knowledge among students, even in the audience today, was very impressive clearly demonstrating that are many more winners there. The consistency of the efforts and continuity of this quiz for more than two decades is very special and something only a TATA company can achieve," said Venkataraman.

“TCS has been visionary in seeding IT awareness at the school level for over two and half decades through various quizzing and student engagement initiatives. To witness so many bright minds today vying for the winning spot is truly heartening and encouraging.  We believe that such events give the much-needed exposure to the students across various cities towards trending technologies and will help them make the right choices in their bright careers ahead," added Sunil Deshpande.

TCS InQuizitive is an innovative learning initiative designed to enhance curiosity and awareness among students in fields such as information technology, science, sports, engineering, and art. There is no entry fee for participation.  

EatFit And Moderate Join Forces To Bring Nutritional Products To Consumers Nationwide

EatFit, India’s largest healthy food platform housed under Curefoods - a leading Indian cloud kitchen player, announced an exclusive partnership with Moderate, a pioneer in lifestyle nutritional products. Through the collaboration, EatFit will distribute Moderate’s innovative products, including the highly acclaimed Moderate - Carb, Calorie & Sugar Cutter and Moderate-Happy Gut Probiotic Powder, through its platforms and affiliated brands.

With this strategic partnership, Moderate’s cutting-edge nutritional solutions will be available on EatFit, HRX by EatFit, and Great Indian Khichdi, across all locations serviced by EatFit on Swiggy and Zomato. This enables Moderate’s products to penetrate further among health-conscious consumers across India. Moderate-Carb Cutter and Moderate - Happy Gut Probiotic Powder are designed to support overall health and wellness, catering to various dietary needs and preferences.

Ankit Nagori, Founder, Curefoods, said, “This partnership represents a significant step forward in making nutritional products more accessible to consumers across India. By combining EatFit’s extensive reach with Moderate’s innovative products, this collaboration is set to make a substantial impact on the health and wellness of many. Together, we strive to create a positive impact in the lives of our customers.”

Moderate's products have been clinically tested and validated by leading institutions, including All India Institute Of Medical Sciences (AIIMS), to ensure their efficacy and safety. The first of its kind in India, Moderate-Carb, Sugar & Calorie Cutter is a 100% plant extract blend that blocks up to 40% of calories derived from complex carbohydrates and processed sugars and reduces hunger pangs & cravings by keeping blood sugar levels balanced without excessive post-meal spikes and crashes while promoting satiety. The Moderate-Happy Gut Probiotic Powder contains the world's most researched and clinically validated strains, proven to aid gut health, metabolic health, weight management, and overall digestive health.

Dr. Lalitha Palle, Co-Founder of Moderate, said, "We are thrilled to partner with EatFit, a leader in healthy food delivery, to offer our clinically tested nutritional products to a wider audience. This collaboration aligns with our mission to provide innovative, science-backed solutions that support overall health and wellness."

Moderate products are recommended for individuals aged 18 and above. Pregnant or nursing women, individuals with chronic health conditions like renal or hepatic insufficiency or those using heavy diabetic medication, are advised to consult a healthcare professional before using these products.

About EatFit 

EatFit is one of India’s largest healthy food platforms housed under Curefoods - a leading Indian cloud kitchen player. The company serves a wide range of bold & fun food options while retaining the honest, clean, and healthy aspect that EatFit has been known for since 2017. EatFit currently operates 150 cloud kitchens. Headed by Ankit Nagori, co-founder of Curefit, EatFit aims to expand the reach and acceptance of healthy food across the nation. At its core, the company is all about making healthy food fun, delicious and honestly Indian. In 2020, EatFit was hived off as a separate entity from Curefit. Since then, it has been operating under the umbrella of Curefoods, to capitalise on India’s growing cloud kitchen segment. 

About Moderate

Moderate is a doctor-founded brand dedicated to offering nutritional products that are rigorously tested and validated to ensure optimal health benefits. Their flagship products, the Moderate-Carb Cutter and Moderate-Happy Gut Probiotic Powder, have been developed using the latest scientific research to support various aspects of health and wellness.

Digital Competition Bill: Experts Raise Concerns About Bill’s Impact On MSME And Startup Competitiveness

* Small and Medium Businesses highlight their perspective on technology and competition frameworks

The India SME Forum hosted a roundtable in New Delhi on Wednesday, for stakeholders to discuss the implications of India's proposed Digital Competition Bill on MSMEs and startups. The participants expressed concerns over the impact of the Bill on MSMEs competitiveness in India and global markets, and the potential detrimental effect on their ability to serve consumers. The Bill’s intent is to regulate and provide a level playing field however it is being used as a measure to solve commercial disputes between private parties. This can derail the vibrant MSME ecosystem in India.

“With large companies moving out of China, India is blessed with a great opportunity to gain from the exodus. Any regulation like DCB will act as a stumbling block in the country’s efforts to attract FDI, and promote global competitiveness of MSMEs,” said Mr. Vinod Kumar, President, India SME Forum (ISF), expressing concerns emanating from the DCB proposal.

MSMEs gathered at the roundtable, highlighted the essential role of supportive regulations in facilitating the growth of small businesses. Experts emphasised the necessity of policies and regulations that empower MSMEs, enabling them to digitise and sustainably utilise digital services, thereby maintaining competitiveness in domestic and export markets.

Aditi Madan, Founder, Director, Blue Pine Foods Pvt Ltd., expressed concerns regarding over-regulation of online markets, stating, “Regulations which are probably meant for larger companies will also have an indirect effect on startups and SMEs, and these unintended consequences will upset the innovation and certainty in the ecosystem. Proposals like the DCB are likely to further impede and compound existing issues faced by product startups looking to access new markets, accessing capital and scale their operations.”

Insights were shared from an upcoming survey-report examining the potential implications of India’s proposed Digital Competition Bill for Indian businesses deploying digital tools as a key driver of business growth and expansion. Preliminary observations from the study show that 82.2% of business users believe that digital services have enhanced their ability to compete effectively in markets, while 74.3% of business users believe that digital services have enhanced their ability to differentiate themselves from their competitors. 

Acknowledging MSMEs' and startups' substantial contribution to India's macroeconomic goals, participants urged the Government to continue with a light-touch regulatory approach that enables innovation and experimentation. Noting the relatively limited extent of consultation on the Digital Competition Bill, participants emphasised the importance of extensive and inclusive pre-legislative consultations, that educate MSMEs and startups on the implications of policy and legislative proposals, while promoting greater involvement by MSMEs and startups. 

Members of ISF, the largest association of SMEs in India, were not only concerned with the immediate impact of the Bill, but also felt that it could be a deterrent for India’s Viksit Bharat goals. 

In his closing remarks, Mr. Kumar, urged the Government to carefully consider the potential impact of new policy proposals on MSMEs and startups, ensure adequate representation of the concerns and perspectives of SME stakeholder groups in pending policy proposals such as the proposed Digital Competition Bill, and take note of the unintended but harmful consequences of untested frameworks. 

Quotable Quotes from the discussion

Vinod Kumar, President, India SME Forum: There is a sense of unease among MSMEs regarding the Draft Digital Competition Bill, as they are unsure about its potential impact. In India, the majority of enterprises are micro, with only a tiny fraction being medium or small enterprises. Many MSMEs are concerned about the proposed ex-ante regulations, especially those related to personal data usage. They argue that data is crucial for services like predictive analysis and targeted advertising, which are vital for their business operations. Furthermore, provisions like the unbundling of digital products could make essential services unaffordable for smaller businesses. The bill appears to be similar to international regulations. The Indian ecosystem is vastly different from that of developed economies, and reliance on international models could be detrimental to the country's MSMEs.

Amit Agrawal, Founder at DSI Robotics: The Digital Competition Bill is somewhat of a safety paradox and can result in an undue compliance burden for small businesses, as has happened in the past. For instance, the government's decision to prohibit digital platforms from saving credit card information, while intended to prevent fraud, created significant challenges for SMEs. A firm managing multiple subscriptions now faces the burden of manually authorizing payments each month. This shift from automated to manual payments is highly inconvenient, causing delays and potential missed payments. This highlights a paradox where measures aimed at increasing security inadvertently hinder business operations.

Aditi Madan, Founder, Director, Blue Pine Foods Pvt Ltd: The policy priorities, particularly in the digital market economy, needs to ensure that SMEs have access to relevant information. The focus should be on directly engaging with SMEs during policy creation to ensure their needs and perspectives are adequately addressed. 

Debashish Das, Founder & CEO, ElenchusHR Solutions: Overly stringent regulations could adversely impact businesses by forcing them back to manual processes reminiscent of the 70s and 80s. This would increase costs and reduce operational efficiency. India's unique economy, with its diverse cultural and regional nuances, cannot adopt a one-size-fits-all approach based on foreign laws. Policies must consider the specific needs and inputs of the MSME sector to be effective and beneficial.

TiE Unveils Its 9th TiE Global Summit (TGS) As The Olympics of Entrepreneurship With Theme Of “Putting Entrepreneurship First”

Key Highlights:

Vision to make this one of the World’s Largest Celebration of Entrepreneurship - expected to attract 25,000 entrepreneurs from over 50 countries, 10,000+ youth entrepreneurs, 5000+ startups, 750+ investors, 300+ corporates, 150+ speakers

The 4-Day Event is scheduled for December 9-11, 2024, at Bangalore Internation Exhibition Center (BIEC) Bengaluru, and December 12th in Mysore.

The event will feature a rich array of global leaders, investors, successful entrepreneurs, policy & ecosystem actors sharing their learnings and perspectives, diverse set of master classes, investor pitch sessions mentoring clinics, networking lounges, etc.

Event will also feature exciting initiatives like VentuRISE Challenge, Futurepreneurs Conclave, TGS100 Awards, TiE Women Global Pitch Competition, Global #SpiritofTiE Awards, Global Hackathons, etc. all aimed at inspiring thousands of entrepreneurs on their journeys towards a larger impact.

TiE Bangalore, the pioneering chapter of The Indus Entrepreneurs (TiE) in India, today announced the 9th Edition of TiE Global Summit (TGS) 2024, scheduled for December 9th to 11th at the Bangalore International Exhibition Center (BIEC), and December 12th in Mysore. This edition coincides with TiE Bangalore’s 25th anniversary, symbolizing a collaborative effort with other TiE chapters in Karnataka, and supported by the Digital Economy Mission (KDEM) and the Government of Karnataka as the Host State Partner. Under the theme "Putting Entrepreneurship First," the summit aims to create an inclusive entrepreneurial ecosystem, democratizing opportunities and uniting the global entrepreneurial community. The summit offers a significant opportunity, akin to the Olympics of Entrepreneurship, to experience the vibrant energy of innovation and entrepreneurship in Bangalore. TGS24 is expected to host over 25,000 delegates including 5000+ startups, 750+ investors, 300+ corporates, 150+ speakers, 10,000+ Futurepreneurs, from across India and more than 50 countries.

The announcement took place at a curtain-raiser event in Bengaluru, graced by esteemed dignitaries including Shri Priyank Kharge, Hon’ble Minister for IT & BT and RDPR, Government of Karnataka; Shri MB Patil, Hon’ble Minister of Commerce & Industries and Infrastructure, Government of Karnataka; Shri. Sharath Bachegowda, Chairman KEONICS; Dr. Ekroop Caur, IAS, Secretary to Government, Dept of E, IT, Bt, Science & Technology, Government of Karnataka; Ms. Gunjan Krishna, IAS Commissioner for Industrial Development, Director for Industries and Commerce, Government of Karnataka; Shri Prashanth Prakash, Chairman of Karnataka Start-up Vision Group and Partner, Accel; Shri BV Naidu, Chairman of Karnataka Digital Economy Mission (KDEM); Shri Amit Gupta, Chair, TiE Global; Shri. Sanjeev Gupta, CEO, KDEM; Shri Jagdish Patankar, Executive Chairman of MM Activ Sci-Tech Communications, Ms. Lakshmi Pratury, Founder CEO INK Talks/TGS Curation Partner and Shri Madan Padaki, Chair of TGS24 and President of TiE Bangalore.

The dignitaries unveiled the TGS24 Logo – “Ekam Flame of Entrepreneurship” bringing in the elements of entrepreneurial energy and the unified purpose of “Putting Entrepreneurship First”.

Madan Padaki shared key details about TGS 2024, including the theme, dates, venue, speaker and sponsor information.  TGS 2024 will host a range of events , challenges and networking events like Future Sparks: Leaders in Conversations, TGS100 Challenge that brings together the brightest Emerging Start-ups globally, Rural Student Innovator Conclave, TiE Global Women Pitch Competition & Conclave , Futurepreneurs Conclave, VentuRISE Challenge by Invest Karnataka, EdVentures for Academia, Cultural Entrepreneurship Conclave at Mysuru, #SpiritofTiE Global Awards,  various sectoral Tracks across Deeptech, AI, Biotech, Agritech, Fintech, Climate-tech,  MSMEs, Circular Economy, Social Enterprises, Start-up Ecosystems, Family Offices, Incubators/Accelerators, Mentoring Clinics & Pitch Sessions Networking Evenings, Art & Music Experiences and a large pavilion that will host booths and learning zones.

The event also announced that registration for the 2nd edition of the VentuRISE Global Startup Challenge, an initiative by the GOK, is now open for global start-ups. VentuRISE ’24 will concentrate on Electronics System Design and Manufacturing (ESDM), Auto/Clean Mobility, and Aerospace & Defence. This challenge offers startups a platform to tackle industry issues and connect with investors/corporate accelerators.

“We are committed to fostering a thriving startup ecosystem. VentuRISE ’24 is a testament to our dedication to supporting innovative entrepreneurs who are driving the future of manufacturing and allied sectors. The Startup Challenge initiative aims to position Karnataka as a global innovation hub, promoting the state as a preferred destination for startups in manufacturing and allied sectors by facilitating connections with investors and industry partners. We are thrilled to participate with TiE Global for the VentuRISE '24 event and we are committed to making this year's event even bigger and better by introducing new initiatives, expanding mentorship programs and attracting a wider pool of global investors.”, said Shri M.B. Patil, Hon'ble Minister for Large and Medium Industries

Prashanth Prakash, Chairman of Karnataka Start-up Vision Group said, “This event presents an immense opportunity, akin to the Olympics of Entrepreneurship, for start-ups and ecosystem actors worldwide to bask in the vibrant energy of innovation and collaboration. The initiatives launched here, coupled with invaluable networking and learning opportunities, will propel our entrepreneurs to new heights, ensuring a lasting and positive impact on our economy. By having investors from across the globe to experience the vibrant stories of Indian entrepreneurs with their innovative business models, we have an opportunity to position ourselves as the leader of innovation in the world”

At the event, Madan Padaki, Chair of TGS24 and President of TiE Bangalore stated: “We are thrilled to bring TiE Global Summit 2024 to Bengaluru & Karnataka. Our chosen theme, 'Putting Entrepreneurship First,' aligns with our mission to foster a thriving entrepreneurial ecosystem world-wide. This summit is more than just a gathering; it’s a catalyst for ideas to meet opportunities, and to ignite possibilities that can shape the future of our societies. We are delighted to be supported by the Government of Karnataka as the State Host Partner and look forward to working together with the entire ecosystem in taking our model of entrepreneurship to the next orbit”

Registrations for TGS 2024 are now open. Participants are encouraged to register now to secure their early bird offers at this prestigious summit, which will feature a comprehensive schedule of master classes, keynote addresses, mentoring clinics, investor pitching sessions and networking opportunities. For more information and to register, visit: https://tgs2024.org/   

Photo Captions:  BV Naidu, Chairman of Karnataka Digital Economy Mission (KDEM); Ms. Gunjan Krishna, IAS Commissioner for Industrial Development, Director for Industries and Commerce, Government of Karnataka; Shri Madan Padaki, Chair of TGS24 and President of TiE Bangalore; Shri MB Patil, Hon’ble Minister of Commerce & Industries and Infrastructure, Government of Karnataka; Shri Priyank Kharge, Hon’ble Minister for IT & BT and RDPR, Government of Karnataka; Dr. Ekroop Caur, IAS, Secretary to Government, Dept of E, IT, Bt, Science & Technology, Government of Karnataka; Shri Prashanth Prakash, Chairman of Karnataka Start-up Vision Group and Partner, Accel; Shri Amit Gupta, Chair, TiE Global; Shri Sanjeev Gupta, CEO KDEM unveiling the TGS24 Logo at today’s “9th edition of TiE Global Summit” curtain raiser event, Taj West End, Bengaluru.