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India-EU Trade Council Hosts EV Battery Recycling Startup Event

India-EU Trade Council Hosts EV Battery Recycling Startup Event

The India-European Union Trade and Technology Council (TTC) Working Group 2 organized a startup matchmaking event on June 20, 2024, featuring twelve high-impact solution providers in EV Battery Recycling Technologies. This event offered startups and SMEs an exclusive platform to pitch their innovative technologies, spanning the entire battery recycling value chain, from collection to valuable mineral extraction.
Participating Startups
The event featured twelve startups selected through a rigorous process based on scientific merit, market readiness, and cooperation prospects. The selected Indian startups included Lohum, LW3 Pvt Ltd., BatX Energies, Evergreen Lithium Recycling Pvt Ltd., Metastable Materials Pvt Ltd., and CENALL Waste Management LLP. The EU startups were Alterity, Ecomet Refining, Eneris, Primobius, RockTech, and Tozero.
Opening Remarks and Key Interventions
The matchmaking event began with opening remarks from H.E. Mr. Saurabh Kumar, Ambassador of India to Belgium, Luxembourg, and the EU, and H.E. Mr. Herve Delphin, Ambassador, Delegation of the European Union to India. They emphasized the importance of fostering innovation and cooperation in green technologies, particularly in the rapidly growing EV sector.
Key interventions were provided by Professor Ajay Kumar Sood, Principal Scientific Adviser to the Government of India, and Mr. Marc Lemaitre, Director-General for Research and Innovation at the European Commission.
Professor Ajay Kumar Sood highlighted the benefits of the exchange trip for selected startups, stating, “This matchmaking event today brings together the best talents and technologies in the battery recycling space on both sides, giving them an exclusive platform for exchange, networking, and prospective investments.”
Mr. Marc Lemaitre emphasized the significance of innovation in the EU-India partnership, noting, “Every step towards advanced battery recycling is a significant carbon win for our environment. This matchmaking event is such a step by bringing together innovative startups from both regions that want to scale up green solutions under the umbrella of the EU-India Trade and Technology Council.”
Additional Attendees
The event was also attended by Dr. Parvinder Maini, Scientific Secretary, Office of PSA, Mr. Sukumar Mishra, Director, IIT (ISM) Dhanbad, and Mr. Karthick Athmanathan, Honorary PSA Fellow.
Next Steps
As a follow-up, three startups from India and three from the EU will be awarded a week-long market immersion experience in the respective regions. During this visit, the selected companies will engage with interested stakeholders, explore potential collaborations, and gain insights into the local market landscape. This initiative presents opportunities for establishing pilot projects, commercial ventures, and co-development initiatives, fostering a robust innovation ecosystem in EV battery recycling.

June 21, 2024
Karnataka Aiming for 15-16% Industrial Growth: Chief Minister Siddaramaiah

Karnataka Aiming for 15-16% Industrial Growth: Chief Minister Siddaramaiah

BENGALURU: Chief Minister Siddaramaiah announced on Wednesday that Karnataka is targeting an industrial growth rate of 15-16% annually. He highlighted the state’s proactive approach to policymaking and its industrial policy, which offers best-in-class incentives to attract global investors.
Key Points from the Global Investors Meet 2025 Curtain Raiser
– Global Investment Destination: Karnataka has positioned itself as a premier destination for global investments, being the second-highest recipient of FDI inflows in India, with 22% of the nation’s total FDI over the last five years.
– Growth Targets: The CM stated that the state has experienced a 9.3% growth rate in industries over the past decade and aims to achieve a $1-trillion GDP by 2032.
– Global Investors Meet 2025: Scheduled for February 12-14 at Bangalore Palace, this event will see over 5,000 senior delegates and 100+ speakers. The theme, ‘Reimagining Growth,’ will include 30+ technical and cultural sessions on topics such as AI, Industry 5.0, Web 3.0 & Blockchain, Smart Computing, and Cybersecurity.
Initiatives and Highlights
– SME Connect ’25: Launched by Large and Medium Industries Minister MB Patil, this platform aims to expand business opportunities for SMEs. Gunjan Krishna, Commissioner for Industrial Development, emphasized the importance of SMEs, which provide 41% of employment.
– VentuRISE – Global Startup Challenge: This second edition aims to recognize and support startups in sectors like Electronic System Design and Manufacturing (ESDM), Clean Mobility, and Aerospace & Defence.
R&D and Innovation Leadership
– Global R&D Contribution: IT-BT Minister Priyank Kharge noted that Karnataka contributes 22% to global R&D and leads in exports, FDI, and technology services.
– Educational and Innovation Hub: With over 250 colleges, 44 universities, and 25,000 startups, Karnataka is a capital of R&D and innovation. The state’s commitment to industry-friendly policies and continuous investment in science, technology, and education drives sustainable growth and better standards of living.
Industry Insights
– Collaboration and Innovation: Ramesh Ramadurai, Past Chairman of CII Karnataka & MD of 3M India, emphasized the importance of augmenting resources, understanding customer needs, and developing valuable solutions. Building infrastructure and fostering partnerships are key to transitioning to groundbreaking new products.
Chief Minister Siddaramaiah’s announcements and the initiatives discussed at the Global Investors Meet 2025 highlight Karnataka’s ambitious plans for significant industrial growth and its strategy to attract global investments and foster innovation.

June 20, 2024
Economists Emphasize Employment Generation and Manufacturing Boost in Upcoming Budget

Economists Emphasize Employment Generation and Manufacturing Boost in Upcoming Budget

During a pre-Budget consultation with Finance Minister Nirmala Sitharaman, economists stressed the importance of focusing the upcoming Budget on employment generation and strengthening the manufacturing sector. Highlighting concerns over unemployment, they urged the government to prioritize job creation. There was a consensus that with the economy showing resilience, stimulating consumption demand would not be a significant challenge.
Economists participating in the consultation, including National Co-convenor of Swadeshi Jagran Manch Ashwani Mahajan, Director and Chief Executive of the Institute for Studies in Industrial Development (ISID) Nagesh Kumar, and TCA Anant, emphasized these priorities.

Key Points from the Consultation

– Employment Generation: Economists highlighted unemployment as a major issue and recommended the government focus on creating jobs.
– Manufacturing Sector: Emphasis was placed on promoting the manufacturing sector, with a particular focus on MSMEs and the textile industry. Nagesh Kumar suggested expanding the scope of the Production Linked Incentive (PLI) scheme.

Statements from Participants

After the meeting, Ashwani Mahajan mentioned that “unemployment is a big issue, and the government should focus on generating jobs.” He added that given the economy’s resilience, consumption demand would not pose a problem.
Nagesh Kumar noted the need to push the manufacturing sector and called for incentives to support MSMEs and the textile sector. He also recommended expanding the PLI scheme to further promote manufacturing.

Official Statement

The Ministry of Finance posted on X (formerly Twitter) about the meeting: “Union Minister for Finance & Corporate Affairs Smt. @nsitharaman chairs the first Pre-Budget Consultations with leading economists in connection with the forthcoming General Budget 2024-25 in New Delhi, today.” The post also mentioned the attendance of Union Minister of State for Finance Shri @mppchaudhary, Finance Secretary, and other key officials.

Upcoming Budget Presentation

Finance Minister Nirmala Sitharaman is expected to present the Union Budget for the 2024-25 fiscal year in the last week of July.

June 20, 2024
Study Outlines Path for India to Achieve $5 Billion Defence Export Goal

Study Outlines Path for India to Achieve $5 Billion Defence Export Goal

A recent study by Nexgen Exhibitions underscores the critical steps India must take to reach its USD 5 billion defense export goal by 2024-25. The key strategies include streamlining foreign direct investment (FDI), enhancing Research & Development (R&D), and boosting manufacturing capabilities. This comprehensive study involved over 130 national and international manufacturers of arms, ammunition, and security equipment.
Key Insights from the Study
Streamlining FDI and Enhancing R&D and Manufacturing
Conducted across 15 cities in India, the study emphasizes the need for streamlined FDI inflows and elevated technology integration, including AI and other advanced technologies. A robust skill development ecosystem is also essential to create a pool of industry-ready professionals, enhancing India’s manufacturing capabilities.
India’s Emergence as a Global Manufacturing Hub
By bolstering R&D and manufacturing, India’s homeland security and defense sectors are poised to become global manufacturing hubs. The study points out the importance of increasing procurement categories to boost domestic defense manufacturing. Currently, India exports defense equipment to over 75 countries, demonstrating its expanding influence in the global defense market.
Advanced Technologies and Disaster Management
The homeland security sector is crucial for maintaining internal stability and protecting national interests. Integrating advanced technologies and data analytics is essential for effective threat detection, surveillance, and response. AI and machine learning can significantly improve risk prediction and mitigation. Additionally, a robust disaster management mechanism ensures preparedness and swift response to emergencies, enhancing public safety and national resilience.
International Police Expo 2024
The International Police Expo, set for July 4-5, 2024, in New Delhi, will bring together global and domestic manufacturers, suppliers, and innovators. With participants from over 25 countries, including the UK, USA, Israel, and Germany, the expo will showcase the latest innovations and technologies. This event provides a platform for international collaboration and the exchange of best practices, shaping the future of policing and homeland security.
A spokesperson for Nexgen Exhibitions remarked, “The International Police Expo facilitates connections between global and domestic manufacturers, suppliers, and innovators, fostering discussions on the key priorities shaping the future of policing and homeland security.”
Conclusion
The study concludes that India’s path to achieving its USD 5 billion defense export goal by 2024-25 hinges on streamlined FDI, enhanced R&D, and manufacturing capabilities. Government support through policies and incentives, coupled with strategic partnerships and technological advancements, is crucial for positioning India as a global defense manufacturing hub.

June 19, 2024
AI Revolutionizing Education: How India is Embracing the Future
AI Revolutionizing Education: How India is Embracing the Future
Artificial Intelligence (AI) is rapidly transforming various sectors, and education is no exception. We may be prone to look at AI in the education space negatively with every student depending on it for their essays and tests, but students leaning on AI may very well be inevitable. Further, teachers and students and embrace AI and evolve along with it In India, there’s a growing interest in leveraging AI to enhance learning experiences and address existing challenges in the education system. Here’s a closer look at this exciting development:
Potential Benefits of AI in Education:
Personalized Learning: AI can personalize learning paths for students by analyzing their strengths, weaknesses, and learning styles. This allows for a more tailored approach to education, ensuring students are challenged appropriately and can progress at their own pace.
Adaptive Learning Tools: AI-powered platforms can adapt to a student’s performance in real-time, adjusting the difficulty level of exercises or recommending additional resources based on their needs.
Intelligent Tutoring Systems: AI tutors can provide students with individualized feedback and support, filling the gap in situations where teacher-to-student ratios may be high.
Automated Grading and Feedback: AI can automate routine tasks like grading multiple-choice questions, freeing up teachers’ time to focus on more complex aspects of teaching like providing personalized feedback and guidance.
Language Learning Assistance: AI-powered tools can help students learn new languages through interactive exercises, personalized vocabulary recommendations, and real-time pronunciation feedback.
Content Creation and Accessibility: AI can assist in creating engaging and interactive learning materials like simulations, games, and personalized study guides. It can also translate educational content into different languages, making education more accessible to a wider audience.
Current initiatives in India:
The government has launched an initiative to promote the use of AI in Indian educational institutions. This could involve providing funding for AI-based educational technologies, training teachers on how to integrate AI tools into their classrooms, and developing frameworks for the ethical use of AI in education.
Several Indian startups are developing innovative AI-powered educational solutions. These solutions cater to various needs, such as personalized learning platforms, adaptive learning tools, and intelligent tutoring systems.
Universities and research institutions are exploring the potential of AI in education through research projects and pilot programs.
Challenges and Considerations:
Equity and Access: Ensuring equitable access to AI-powered educational tools for students from all backgrounds is crucial. The digital divide in India needs to be addressed to prevent AI from exacerbating educational inequalities.
Teacher Training and Support: Teachers need proper training and support to effectively integrate AI tools into their teaching practices. It’s important to avoid replacing teachers with AI but rather empower them to utilize AI as a valuable teaching aid.
Data Privacy and Security: Protecting student data privacy is paramount when using AI in education. Robust data security measures need to be implemented to ensure student data is safe and used ethically.
The Road Ahead:
The use of AI in Indian education is still in its early stages, but it holds immense promise for the future. By addressing the challenges and ensuring responsible implementation, AI can play a transformative role in making Indian education more personalized, effective, and accessible to all.
June 19, 2024
Bolstering the Aerospace Sector: The Vital Role of MSMEs and the Need for Government Support

Bolstering the Aerospace Sector: The Vital Role of MSMEs and the Need for Government Support

The Indian aerospace and defense market is projected to soar to USD 54.4 billion by 2033, a significant leap from its valuation of USD 27.1 billion in 2024, growing at a CAGR of 6.99% during the forecast period. This rapid growth, highlighted by Custom Market Insights, underscores the sector’s dynamic expansion fueled by increasing manufacturing demands from both domestic and international aircraft carriers. This surge necessitates advancements in innovation and technology for the design, development, and production of critical components and systems, including aircraft engines.
To meet this burgeoning demand, top industry players like Hindustan Aeronautics Limited (HAL), Tata Advanced Systems Limited (TASL), and L&T Aerospace must collaborate with smaller, technologically adept players. Here, Micro, Small, and Medium Enterprises (MSMEs) become indispensable. Known as the backbone of the Indian economy, MSMEs foster innovation, generate employment, and promote equitable development. Their agility and expertise in producing a wide range of aerospace components make them vital to the supply chain, ensuring timely delivery to manufacturers and distributors, unlike larger organizations burdened by bureaucratic processes.
Recognizing the importance of a robust supply chain, the Indian government is pushing for “Make in India,” particularly in the Aerospace and Defense (A&D) sector. Samir V. Kamat, Secretary of the Department of Defence R&D and Chairman of DRDO, emphasized the government’s aim to increase indigenous content in the defense and aerospace sector to over 70% in the next 3-4 years, highlighting the critical role of MSMEs in this endeavor. This push was echoed by Prime Minister Narendra Modi during the 2015 Aero India Air Show, reinforcing the theme of ‘Make in India’.
Government initiatives like the Defence Offset Policy encourage the development of synergistic sectors such as civil aerospace and internal security, providing special incentives for MSMEs. Regular interactions with vendors and stakeholders help address concerns, fostering a collaborative environment.
While reduced imports and record-high defense exports in A&D are promising, further improvements are needed for India to compete globally. Service or product-linked incentives could foster collaboration between large companies and MSMEs. Simplifying regulations for cross-border transactions with global supply chains and striving for self-reliance in the aerospace industry are crucial steps. Additionally, a clear Aerospace Policy, an independent nodal agency for collaboration, and increased government spending focused on small startups, MSMEs, and academia are necessary to fuel research and development for sustainable growth.
The future of the Indian aerospace sector hinges on the symbiotic relationship between big companies, MSMEs, and the government. By introducing industry-friendly schemes, addressing regulatory challenges, incentivizing partnerships, and promoting large-scale manufacturing, India can emerge as a global aerospace hub, competing with world leaders.

June 18, 2024
New Challenges and Opportunities for the Dairy Industry Amid Changing Customer Behavior

New Challenges and Opportunities for the Dairy Industry Amid Changing Customer Behavior

The dairy industry is currently navigating a landscape rich with opportunities and challenges. New sources such as plant-based dairy alternatives and a focus on sustainability, including precision farming and automation, are reshaping the sector. Additionally, the industry is expanding into new markets.
Ravin Saluja, Director of Sterling Agro Industries (Nova Dairy), highlights that the growing emphasis on health and wellness offers significant potential for dairy FMCG companies. “Consumers are increasingly seeking functional dairy products enriched with probiotics, vitamins, and minerals, catering to diverse dietary needs and preferences. By leveraging scientific research and innovation, dairy brands can capitalize on this trend to offer products that promote overall well-being and address specific health concerns,” Saluja explains.
The increasing popularity of plant-based diets and rising lactose intolerance have fueled the demand for dairy alternatives. “FMCG companies have the opportunity to diversify their product portfolios by introducing plant-based dairy alternatives made from almonds, soy, oats, and other plant sources. Embracing this trend enables dairy brands to tap into new consumer segments while contributing to sustainability goals and reducing environmental impact,” Saluja adds.
Aman J Jain, CEO and Co-Founder of Doodhvale emphasizes the importance of adapting to new trends. “Dairy brands should consider developing digital marketing approaches, interacting with customers on social networks, and offering personalized experiences. Steps toward long-term sustainability, transparency in production processes, and the use of sustainable materials can appeal to specific customers. Functional dairy products, plant-based and fortified creations can address various dietary choices and health needs,” Jain states.
Challenges for the Dairy Industry
The dairy industry faces mounting pressure to address sustainability and environmental challenges, such as greenhouse gas emissions, water usage, and animal welfare concerns. “FMCG companies must adopt sustainable practices throughout the value chain, from sourcing raw materials to packaging and distribution, to mitigate environmental impact and meet consumer expectations for ethical and eco-friendly products,” says Saluja.
Compliance with stringent regulatory requirements and quality standards also presents a challenge, particularly in a globalized marketplace with diverse regulatory frameworks. “Ensuring product safety, traceability, and adherence to labeling regulations is essential to maintain consumer trust in dairy products. FMCG companies must invest in robust quality assurance systems and compliance measures to navigate regulatory complexities and uphold industry standards,” Saluja notes.
Economic uncertainty, geopolitical tensions, and market volatility are significant challenges, affecting supply chain stability, pricing dynamics, and consumer spending patterns. Fluctuations in commodity prices, currency exchange rates, and geopolitical developments can disrupt operations and profitability, necessitating agile and adaptive strategies to manage risks and seize opportunities in dynamic market environments.
“The main problems that dairy industries face are fluctuating raw material prices, increasing regulatory measures, issues around emission reduction and water usage, ethical concerns for animal welfare, the shift in consumer behavior towards non-animal-based products, and the increasing prevalence of lactose intolerance and dairy product allergies,” Jain elaborates.
Furthermore, supply chain disruptions, workforce shortages, and the pressure to maintain sustainable operations add to the industry’s challenges.
Despite these challenges, stakeholders agree that the dairy sector has a promising future, provided it adapts effectively to changing consumer preferences.

June 17, 2024
Government Needs to Review Unfavorable FTAs: CII Chairman

Government Needs to Review Unfavorable FTAs: CII Chairman

NEW DELHI: The government should reassess free trade agreements (FTAs) with countries like South Korea and ASEAN members that have not been advantageous for India in terms of market access, stated Sanjiv Puri, Chairman of the Confederation of Indian Industries (CII). However, he noted that trade agreements with the UK, EU, UAE, and Australia have been beneficial for the Indian economy.
The Global Trade Research Initiative (GTRI) in Delhi reported that India’s merchandise trade deficit surged by 302.9% with ASEAN countries and by 164.1% with South Korea. This comparison was made using data from the pre-FTA period (2007-09) and the period between 2020-22. India had established trade agreements with these countries in 2010-11. During these periods, India experienced a higher growth rate in imports compared to exports when trading with these nations.
Puri also highlighted the potential for the production-linked incentive (PLI) scheme in sectors like textiles and toys, citing its success in new-age and traditional sectors.
“PLI schemes have been effective in new-age sectors and traditional sectors like food processing. Given their success, we can extend them to labor-intensive sectors and link them to the employment index,” he added.
Addressing concerns about slow growth in the manufacturing sector, Puri remarked, “Recent policy interventions have strengthened financial sector balance sheets, improved corporate balance sheets, rationalized corporate income tax, and introduced PLI schemes and FTAs. These measures have positively impacted manufacturing, and we are moving in the right direction.”
He emphasized the need to build on this momentum through continued reforms in factors like cost, land, labor, and improving ease of doing business to make the ‘Make in India’ initiative more competitive.
Puri also expressed optimism about a revival in rural consumption, given favorable monsoon predictions.

June 17, 2024
India’s Electronic Manufacturing Set to Double to $250 Billion in Five Years: Report

India’s Electronic Manufacturing Set to Double to $250 Billion in Five Years

India’s electronic manufacturing sector is poised for significant growth, with projections indicating it will double to around $250 billion in the next five years, according to a report from The Economic Times. This growth would elevate the sector from its current value of $125-130 billion in electronic exports.
To combat unemployment, the government is targeting job creation in the electronic manufacturing sector, aiming to double the current workforce of 2.5 million to around 5 million in the same timeframe.
“Our focus remains on providing services to digital technology and expanding large-scale electronics manufacturing. These targets will only accelerate,” stated Ashwini Vaishnaw, Minister for Electronics and Information Technology.
The report highlights India’s shift from import substitution to becoming self-reliant (Aatmanirbhar) and an export-led manufacturer, especially in segments like mobile phones. The country is also working towards self-reliance in laptop manufacturing.
The Indian government has earmarked Rs 760 billion for electronic manufacturing through various incentive schemes. Despite this, India’s per capita electronic consumption remains at one-fourth of the global average.
Currently, a significant portion of India’s electronic imports come from China (44%) and Hong Kong (16%). On the export front, mobile phones and Electronic Control Units (ECUs) dominate, with the United States and the UAE being the largest export destinations.
Experts note that India’s electronic manufacturing sector is undergoing a transformation, strengthening the country’s position as a global electronics manufacturing hub.
To further this goal, the government has launched several initiatives, including the Production Linked Incentive (PLI) Scheme for large-scale electronics manufacturing, PLI for IT hardware, the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), and the Modified Electronics Manufacturing Clusters Scheme (EMC 2.0).
Additionally, the government has introduced the Semicon India Program with a $10 billion incentive outlay, aiming to develop a sustainable semiconductor and display ecosystem, further establishing India as a global hub for semiconductor and display manufacturing.

June 17, 2024
Women constitute 36% of workforce in Indian start-ups and SMEs, finds HerKey report

HerKey Report: Women Constitute 36% of Workforce in Indian Start-Ups and SMEs

A recent HerKey study revealed that women represent 36% of the workforce in Indian startups and SMEs. The HerKey DivHERsity Benchmarking Report 2023–24 found that women make up 34% of the workforce across all surveyed companies, which included 300 firms.
Large enterprises led with a 38% women participation rate at the entry level, although this figure drops to 19% at mid-management and senior levels. Notably, the proportion of women hired in C-suite roles has decreased to 24% from the previous 37%, indicating a need for stronger measures to support women’s advancement to top leadership positions.
Neha Bagaria, Founder & CEO of HerKey, commented on the findings: “Women don’t face a constraint on ambition—they face a constraint on opportunity. The DivHERsity Benchmarking Report underscores the need for continued efforts to elevate women to leadership roles.”
The study highlighted that 84% of surveyed companies have initiatives dedicated to recruiting women, with 98% of large enterprises committed to gender diversity goals in hiring. Among these, 88% successfully met their objectives. Startups and SMEs are also making strides, with a 97% success rate in achieving gender diversity goals.
Additionally, 82% of large enterprises and 67% of SMEs and startups have launched programs to hire women returning to work. These initiatives have been highly successful, with 93% of women in large enterprises and 83% in startups and SMEs being hired through such programs.
Founded in 2015, HerKey collaborates with over 15,000 companies across India, helping them to recruit women employees.

June 14, 2024