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Defence Research and Development Organisation (<keyword id="19948662" type="General" weightage="20" keywordseo="DRDO" source="keywords" meta.keywordsubtype="org" meta.entityname="DRDO" meta.hostid="261" meta.entityid="DRDO">DRDO</keyword>) will collaborate with <keyword id="19906424" type="General" weightage="20" keywordseo="Indian-Institute-of-Technology" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Institute of Technology" meta.hostid="261" meta.entityid="Indian Institute of Technology">Indian Institute of Technology</keyword> (<keyword id="19906425" type="General" weightage="20" keywordseo="iit" source="keywords">IIT</keyword>) Bhubaneswar for artificial intelligence (AI) driven surveillance and other projects, officials said. A meeting was held between DRDO and <keyword id="19971391" type="General" weightage="20" keywordseo="IIT-Bhubaneswar" source="keywords" meta.keywordsubtype="org" meta.entityname="IIT Bhubaneswar" meta.hostid="261" meta.entityid="IIT Bhubaneswar">IIT Bhubaneswar</keyword> officials here on Tuesday. Binay Das, director general (DG) of Electronics and Communication Systems (ECS) cluster, DRDO, and many senior scientists and officials of both institutions were present in the meeting. During the meeting, nine sanctioned projects of the ECS Cluster of DRDO were handed over to IIT Bhubaneswar while another 7 projects are in process to be sanctioned with Rs 18 crore funding. IIT Bhubaneswar will work on the sanctioned projects, which would be beneficial in electronics warfare, <keyword id="21571619" type="General" weightage="20" keywordseo="AI-driven-surveillance" source="keywords">AI-driven surveillance</keyword>, power systems, radar systems etc, officials said. S R Samantaray, head of the School of Electrical sciences of IIT said the collaboration of IIT Bhubaneswar and DRDO will contribute to the emerging research and development need of defence applications, creating a platform for 'Atma Nirbhar Bharat'. This form of collaboration will enhance the sustainability of defence research programmes and will be part of the eco-system for nation building, he said. Speaking on the occasion, Binay Das advised researchers and faculty members associated with various DRDO-sanctioned projects to work systematically with proper review and risk management systems to complete the projects in time and come up with unique solutions. He said that DRDO is going through a transformation from technology chasers to become technology enablers and trendsetters. "The goal is now to move beyond attaining self-reliance to setting standards for the Indian armed forces, for others across the globe, to emulate. In this context, this collaboration, and the further opportunity to set up a Centre of Excellence at IIT Bhubaneswar would prove crucial," he added. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank">Aadhar Housing Finance IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a>

DRDO to collaborate with IIT Bhubaneswar for AI-driven surveillance, other projects

<ul><li>Tier II &amp; tier III cities accounted for 22% of the industrial and warehousing land absorption across <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> in 2022. </li><li>At 16%, Delhi-NCR led the pack with the highest industrial and warehouse land absorption in 2022. </li><li>3PL (third-party logistics) and e-commerce sectors, together, accounted for 52% of the total warehouse space absorption in 2022.</li></ul>India witnessed industrial and warehouse absorption of 46 million sq. ft in 2022, of which 36 million sq. ft belonged to tier I cities. Close to 10 million sq. ft belonged to tier II and III cities, as per the latest data from international real estate advisory firm, <keyword id="4935506" type="General" weightage="50" keywordseo="savills-india" source="Orion">Savills India</keyword>. Tier II and tier III cities collectively witnessed 17.4% <keyword id="63194" type="General" weightage="50" keywordseo="yoy" source="Orion">YoY</keyword> growth in industrial and warehousing absorption, driven by e-commerce, retail and 3PL (third-party logistics) firms, observed <keyword id="674707" type="General" weightage="100" keywordseo="savills" source="Orion">Savills</keyword> India. These tier II &amp; III cities included Coimbatore, Guwahati, Indore, Nagpur, Lucknow, Jaipur, Rajpura, <keyword id="50863" type="General" weightage="50" keywordseo="bhubaneswar" source="Orion">Bhubaneswar</keyword>, Kochi/Ernakulam, Madurai, <keyword id="6357203" type="General" weightage="50" keywordseo="varanasi" source="Orion">Varanasi</keyword>, Hubli, Ludhiana, Patna and Hosur. Among the major cities in India, Delhi-NCR led the pack with the highest industrial and warehouse land absorption in 2022 at 16% followed by Mumbai at 14%. Pune and Bengaluru saw absorptions at 13% and 12% respectively, while tier II and tier III cities accounted for 22%, Savills shared. The sectors that drove the absorption in 2022 were 3PL and ecommerce (52%); followed by manufacturing (16%) and retail sectors (13%). Increased demand in 2023 As per Savills, the industrial and warehousing market in India witnessed transactions of 3,800 plus acres of land across tier I, II and III cities in 2022, of which 64% was private land and 36% was government land. The warehousing sector in India also raised private equity to the tune of $1.5 billion in 2022. The interest in the market is expected to grow further in the future. “The market is likely to witness increased interest from investors in this asset class in 2023 owing to inherent domestic demand and expansion of distribution networks in tier II and tier III cities,” Savills said in a statement. As per Savills, tier II and III cities are poised to gain further momentum in 2023 and 2024 with ecommerce, retail and 3PL firms capitalizing on consumption-driven growth and pushing up the demand for warehousing space. As per the <keyword id="2646256" type="General" weightage="50" keywordseo="unicommerce" source="Orion">Unicommerce</keyword> 2022 report, more than 6 out of 10 orders shipped in 2022 went to buyers in tier II cities, and orders from tier III cities have also surged 65% since 2020. “The industrial and logistics sector is likely to see absorption of over 40 mn sq. ft in 2023. This demand for space could stem from emerging tier II and III cities, growing demand for urban warehousing and a major transformation in the Indian manufacturing sector backed by <keyword id="9626119" type="General" weightage="50" keywordseo="performance-linked-incentives" source="Orion">Performance Linked Incentives</keyword> (PLIs) and efficient multi model connectivity plan for local and global distribution. We expect over 50 million sq. ft of new supply to be infused in the market during the same period,” said <keyword id="9823945" type="General" weightage="50" keywordseo="srinivas-n" source="Orion">Srinivas N</keyword>, managing director, Industrial and Logistics, Savills India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/here-are-the-most-bizarre-pitches-on-shark-tank-india-season-1/articleshow/96735850.cms">Belly button shaper to ayurvedic ice cream — here are the most bizarre pitches on Shark Tank India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/india-won-the-first-t20i-against-sri-lanka-in-a-nail-biting-finish/slidelist/96733749.cms">India won the first T20I against Sri Lanka in a nail biting finish</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ms-dhoni-backed-drone-firm-garuda-aerospace-launches-farmers-focused-film/articleshow/96734751.cms">MS Dhoni-backed drone firm Garuda Aerospace launches farmers-focused film</a>

Tier II & III cities see 17.4% growth in industrial and warehousing absorption: Savills

The <keyword id="50847" type="General" weightage="50" keywordseo="reserve-bank" source="Orion">Reserve Bank</keyword> on Tuesday said it will launch the first pilot for retail digital rupee (e₹-R) on December 1, 2022, in which four banks including <keyword id="13222" type="General" weightage="50" keywordseo="sbi" source="Orion">SBI</keyword> and ICICI Bank will initially participate. On November 1, the <keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword> launched the first pilot in the digital rupee - wholesale segment. Announcing the operationalisation of the Central Bank Digital Currency - Retail (e₹-R) Pilot, the RBI said the pilot would cover select locations in closed user groups (CUG) comprising participating customers and merchants. "The e₹-R would be in the form of a digital token that represents legal tender. It would be issued in the same denominations that paper currency and coins are currently issued," it said. It would be distributed through banks and users will be able to transact with e₹-R through a digital wallet offered by the participating banks and stored on mobile phones/devices. Transactions can be both Person to Person (P2P) and Person Merchant (P2M). The RBI further said the e₹-R would offer features of physical cash like trust, safety and settlement finality. "As in the case of cash, it will not earn any interest and can be converted to other forms of money, like deposits with banks," the central bank said. The pilot would initially cover four cities -- Mumbai, New Delhi, <keyword id="6354321" type="General" weightage="50" keywordseo="bengaluru" source="Orion">Bengaluru</keyword> and <keyword id="50863" type="General" weightage="50" keywordseo="bhubaneswar" source="Orion">Bhubaneswar</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/financial-creditors-forego-rs-790-626-cr-under-insolvency-resolution-process-care-ratings/articleshow/95850593.cms">Financial creditors forego Rs 790.626 cr under insolvency resolution process: CARE Ratings</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-gains-8-paise-to-81-60-against-us-dollar/articleshow/95850197.cms">Rupee gains 8 paise to 81.60 against US dollar</a>

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DRDO to collaborate with IIT Bhubaneswar for AI-driven surveillance, other projects

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Tier II & III cities see 17.4% growth in industrial and warehousing absorption: Savills

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RBI to launch pilot of retail digital rupee on Dec 1

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