1. India gets its 100th unicorn startup
Tags: National News
The unicorn wave in India has reached an all-time high and the Neobank Open has become the 100th Unicorn in the country.
The Ministry of Commerce and Industry said that one in every 10 unicorns produced globally is from India.
Neobank startup, Open has become the 100th unicorn in India with the latest funding of $50 million from IIFL along with existing investors.
The Indian startup ecosystem is the third largest in the world in terms of number of unicorns.
India is now home to 100 unicorns, with a total value of $332.7 billion.
According to the ministry, in the first four months of 2022, India has generated 14 unicorns with a total valuation of $18.9 billion.
The year 2021 saw a huge jump in the number of unicorns, with a total of 44 startups entering the unicorn club throughout the year, with a total value of $93 billion.
Since the launch of the Startup India initiative on 16 January 2016, more than 69,000 startups have been recognized in the country till 2 May 2022.
What is a Unicorn?
A unicorn is any privately owned firm that has a market capitalization of more than $1 billion.
The term unicorn was first coined by venture capitalist Aileen Lee in 2013.
Some popular unicorns include SpaceX, Robinhood, and Instacart.
There are over 1,000 unicorn companies around the world as of March 2022.
2. India's first Flow Chemistry Technology Hub (FCT Hub)
Tags: National News
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India's first Flow Chemistry Technology Hub (FCT Hub) has been established at Dr. Reddy's Institute of Life Sciences (DRILS), Hyderabad.
This Centre of Excellence has been set up by the Government of Telangana in partnership with Dr. Reddy's Laboratories and Laurus Labs.
The centre will provide practical training and promote scientific capacity building.
This hub will ensure greater incorporation of flow chemistry techniques into pharma R&D and greater adoption of continuous synthesis for manufacturing of Active Pharma Ingredients (APIs).
Hyderabad, the capital city of Telangana, is regarded as the life sciences capital of India and an important life sciences hub in Asia Pacific.
Hyderabad contributes about 35% of India's total pharmaceutical production.
Hyderabad has more than 800 pharmaceutical companies, hosting the largest number of USFDA approved facilities globally.
3. Enterprise India National Coir Conclave 2022
Union Minister of Micro, Small and Medium Enterprises Shri Narayan Rane inaugurated the 'Enterprise India National Coir Conclave 2022' organised under the "Amrit Mahotsav of Independence" at Coimbatore, Tamil Nadu.
On this occasion, the Coir Industries Awards were distributed to 44 units producing/exporting/exporting coir and coir products.
On this Absar, the Care Board has introduced new coir products such as Care Composite Fruit Bowl, Jio-Textile Shadow Lamp, Care Fores, Care Flattened Auto Mirror Cover, Flat Rectangular Train, Certificate Holder as well as technology manuals for coir along with introducing new coir products. Books related to furnishing of floor-made floor-made floor-made floors were also released.
The 'Run for Care' is also being organised on May 6, 2022 as a natural, disabled and environmentally friendly product to promote the use of coars.
About Care Board -
The Coir Board is a statutory body by the Government of India under the Coir Industry Act 1953.
The headquarters of the Coir Board is in the city of Cochin.
Coir is a fibre made from the outer husk of the coconut.
Coir is used to make ropes, mattresses, brushes, doormats, etc.
Coir is a good example of 'Waste to Wealth', which provides a sustainable solution by being eco-friendly and helpful in conserving water and soil.
The coir industry provides employment to more than seven lakh people in the rural areas of coconut producing states.
4. Ukraine and Britain (UK) have signed a preferential trade agreement
Tags: International News
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Ukraine and Britain (UK) have signed a preferential trade agreement for the abolition of import duties and tariff quotas.
By signing this agreement Ukraine and the UK have legally abolished import duties and tariff quotas in bilateral trade.
The Preferential Trade Agreement will be valid for 12 months.
The agreement is set to promote exports of high value-added goods such as flour, cereals, dairy products, poultry, tomato paste, honey, corn, wheat, juice, mushrooms and sugar from Ukraine.
Recently the European Union also decided to abolish tariffs and quotas on Ukrainian industrial goods and food items.
About Ukraine-
Ukraine is a country located in Eastern Europe. It borders Russia in the east, Belarus, Poland, Slovakia in the north, Hungary in the west, Romania in the south and Moldova and the Black Sea in the south and the Black Sea and Azov Sea.
Capital - Kyiv
President- Volodymyr Zelensky
Prime Minister- Volodymyr Groysman
currency - hryvnia
5. Memorandum of Understanding (MoU) for a trafficking free nation
Tags: Latest National News
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Railway Protection Force (RPF) signs MoU with Association for Voluntary Action (AVA) for a trafficking free nation.
The deliberations were taken forward with signing of MoU wherein both RPF and AVA (also known as Bachpan Bachao Andolan) pledged to work together to share information, build capacity of RPF personnel and railway employees to work against Human Trafficking.
A joint action by both the stakeholders under the framework of the MoU will certainly increase the reach and effectiveness of "Operation Aahat" (Action Against Human Trafficking) launched by RPF across the country.
Role of Railway Protection Force
Railway Protection Force has been entrusted with the responsibility of security of railway property, passenger area and passengers.
It has succeeded in rescuing more than 50,000 children from human trafficking since the year 2018 under "Operation Nanhe Farishte".
It has recently launched "Operation Aahat" to take strong action against human trafficking and rescue victims of human trafficking from the clutches of traffickers.
The RPF has also established Anti-Human Trafficking Units (AHTUs) at over 740 locations across India, which have been directed to take action against human trafficking.
Bachpan Bachao Andolan
Bachpan Bachao Andolan, associated with Kailash Satyarthi Children’s Foundation was founded in 1979 under the leadership of Nobel laureate Mr. Kailash Satyarthi.
The mission of Bachpan Bachao Andolan is to end all forms of violence against children and to create a world where all children are free, safe and healthy and receive quality education.
6. Meeting of the Parliamentary Consultative Committee for Ministry of Steel held at Shimla
Tags: National News
A meeting of the Parliamentary Consultative Committee of the Ministry of Steel was held on 6 May 2022 at Shimla to discuss the topic "Transition to Green Steel" under the chairmanship of Union Steel Minister Ram Chandra Prasad Singh.
The Chairman urged the stakeholders to come together in developing a time bound action plan and make concerted efforts to reduce emissions from the steel industry.
In the meeting, the members of the Committee discussed the current scenario and the way forward to promote the transition towards Green Steel with senior officials of the Ministry of Steel and experts from the steel industry.
Various strategies & technologies that can be adopted by the steel industry to produce green steel and their Technology Readiness Levels (TRLs) were also discussed.
The focus of the discussion was on the possibilities of using green hydrogen for use in iron production and the use of CCUS technologies to reduce emissions in line with the commitments made in COP26.
Challenges of Iron and Steel sector
The iron and steel sector is particularly challenging with respect to the reduction of carbon dioxide (CO2) emissions, as the use of fossil fuel-based energy and reductants is deeply embedded in the production process.
The emissions from the Indian iron and steel industry is higher primarily due to higher usage of coal based energy source and as reductant.
It is thus imperative for the Indian steel industry to substantially reduce its emissions and take appropriate action in keeping with the commitments made in COP26.
7. WHO estimates 4.7 million COVID-19-linked deaths in India
Tags: Latest National News
According to a report by the World Health Organisation There were likely 4.7 million deaths, directly or indirectly attributable to COVID-19 in India in 2020 and 2021.
India officially estimated only 4.8 lakh cumulative deaths linked to COVID-19 by December 2021, which means the WHO's estimate is almost 10 times the government count.
The World Health Organisation said that in the past two years, about 15 million people have lost their lives either to the corona virus or to its effects on health systems.
In India, there were 5.3 lakh deaths among men aged 60 and above in 2020 and 19 lakh deaths in the same age group in 2021.
On the other hand, there were 3.5 lakh deaths among women 60 and older in 2020 and 15 lakh deaths in 2021.
Minutes after the WHO released its estimate, India "objected" to the methodology used by the organisation.
COVID-19-linked deaths Globally
Most of the additional deaths (84%) are concentrated in Southeast Asia, Europe and the Americas.
Nearly two-thirds of additional deaths are concentrated in just 10 countries globally.
Globally, the pandemic killed more men than women (57% male, 43% female) with a higher proportion of older people.
8. PM reviews various aspects of wheat supply, stock and exports
Tags: National Economy/Finance
Prime Minister Narendra Modi chaired a meeting to review various aspects of wheat supply, stock and exports.
PM Modi was briefed about the effect of high temperatures in the months of March to April on crop production.
The position of procurement and export of wheat was also reviewed.
The Prime Minister directed that all steps be taken to ensure quality norms and standards so that India can develop as an assured source of food grains and other agricultural products.
Modi also asked the officials to ensure maximum help to the farmers.
The officials informed the Prime Minister about the prevailing market rates which are beneficial for the farmers.
Status of procurement of wheat in India
The procurement of food grains at the Minimum Support Price (MSP) by the government will hit a 13-year low this year.
In 2010-11, wheat procurement was 22.5 MT and in 2016-17, it was 22.96 MT.
MSP purchases of wheat stood around 17 MT as on 5 May, down 42% from the year-ago level.
India is aiming to export more than 10 metric tonnes of wheat in 2022-23.
According to the revised guideline, during the remaining five months of phase VI of Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY), FCI will allocate 3.5 million tonnes (MT) of wheat to states.
Launched in 2020 as part of COVID19 relief measure, 5 kg of grain under PMGKAY are provided free each month besides highly subsidised foodgrain to beneficiaries under National Food Security Act.
9. PM Modi to address inaugural session of Jain International Trade Organisation’s - JITO Connect 2022
Prime Minister Narendra Modi will address the inaugural session of Jain International Trade Organisation’s - JITO Connect 2022 through video conferencing.
· JITO Connect 2022 is a three-day event that is being organized in Pune from May 6-8 and will consist of several sessions on various issues related to business and economy.
· About Jain International Trade Organization (JITO)
· JITO is a worldwide association of businessmen, industrialists, knowledge workers and professionals that reflects the glory of ethical business practices.
· It is a global organization formed for socio-economic empowerment, value based education, community welfare, practice of compassion, spreading global friendship and spiritual upliftment of fellow beings.
· Mission of JITO
· Creating a world class body of influential and powerful Industrialists, Entrepreneurs, Businessmen and Professionals to come together for noble causes of Economic Empowerment, Knowledge and Service.
· Objectives of JITO
· Create managed knowledge Institutions and Value Based Education.
· Growth in business by mutual cooperation, avoidance of criticism and opposition.
· Create Platform for young entrepreneurs for right Business contacts.
· Promote governance and politics & value based people.
10. Air Marshal Sanjeev Kapoor assumes the Appointment of Director General (Inspection and Safety)
Tags: National Defence Person in news
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Air Marshal Sanjeev Kapoor assumed the appointment of Director General (Inspection and Safety) of Indian Air Force at Air HQ New Delhi on 01 May.
The Air Marshal is a graduate of the National Defence Academy and was commissioned into the Flying Branch of the Indian Air Force in December 1985 as a transport pilot.
He is an alumnus of Defence Services Staff College (DSSC) Wellington, College of Defence Management and National Defence College.
He is a qualified Flight Instructor with over 7700 hours of flying experience on various aircraft in the IAF list.
He has commanded an operational transport squadron and a major transport base.
He is a recipient of Vayu Sena Medal and Ati Vishisht Seva Medal.
