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There is unlikely to be any shift in India-US policy and strategy under a Harris administration, the head of a top India-centric American trade and strategic advocacy group said Tuesday, noting that <keyword id="10627518" type="General" weightage="20" keywordseo="Vice-President-Kamala-Harris" source="Orion">Vice President Kamala Harris</keyword> becoming the <keyword id="1042878" type="General" weightage="20" keywordseo="presidential-nominee" source="Orion">presidential nominee</keyword> of the <keyword id="20031929" type="General" weightage="20" keywordseo="Democratic-Party" source="keywords">Democratic Party</keyword> has energised the base. "I don't think there will be a shift in policy or there will be a shift in strategy itself, especially with India. We see the process continuing," <keyword id="1085906" type="General" weightage="20" keywordseo="Mukesh-Aghi" source="Orion">Mukesh Aghi</keyword>, president and CEO of US India Strategic and Partnership Forum (USISPF) told PTI in an interview. By raising over USD100 million in less than 50 hours of her becoming the presidential candidate is reflective of the groundswell of support in favour. "<keyword id="10247921" type="General" weightage="20" keywordseo="President-Biden" source="Orion">President Biden</keyword> withdrawing has basically energised the Democratic base of the party itself. You look at the last 24 hours, over USD100 million worth of contribution has come in, which is a record breaker itself. Big time donors are now again supporting the Democratic Party and <keyword id="20307089" type="General" weightage="20" keywordseo="Kamala-Harris" source="keywords">Kamala Harris</keyword> as the candidate itself," he said. "What we see is a momentum which is building in favour of Kamala Harris and the Democratic Party. She will definitely attract women to vote on the issues of abortion. She will attract the African American vote. Depending on what kind of vice president candidate she gets, she will also attract the independent white male voters of America. Today we see an accelerated momentum. We still have 100 days left in the election," he said. "What is the impact on US-India if Kamala Harris becomes the President? I see no impact. Because it is not a political party initiative which India comes into the play. It is a <keyword id="22524806" type="General" weightage="20" keywordseo="geopolitical-initiative" source="keywords">geopolitical initiative</keyword> in which India plays a pivotal role. The rise of China, the aggressive posture of China threatens the world itself. It threatens America's interest. And India basically plays a pivotal role trying to balance that," Aghi said. "The other aspect is for the US companies to de-risk supply chains from China. This becomes very critical that India plays a pivotal role. What's most interesting is the budget and the US relationship has an impact because, for example, critical minerals have been put a priority by the government of India. The US is trying to basically de-risk its dependence on critical minerals from China itself," he said. "So, we see an accelerated partnership taking place between India and the US on critical mineral resourcing and processing itself. So, we don't see an impact taking place in the policy change between India and the US if Kamala Harris comes in as the president," Aghi said. He did not agree with the fears in some sections that India US relationship would not be very good under a Harris administration. "Yes, there has been criticism of Kamala Harris. But I think she's a smart woman. She's an intelligent woman. She has the experience. She will have a good team which will guide things. So, I don't think there will be a shift in policy or there will be a shift in strategy itself, especially with India. So we see the process continuing," Aghi said. "You have to understand there is an emotional attachment to India because she kind of spent summers both in Chennai and Chandigarh itself. But she also has to be careful not to show extra attachment to India because she will be judged from a perspective of being African American or American Indians itself. So, she'll have to have a very balanced approach dealing with India," he said. "But I think it is in the interest of the United States that the relationship continues. As President Biden said, it's one of the most consequential relationships. We don't see a shift. Yes, she may play a role of maintaining a certain amount of distance. But at the end of the day, the policies will not shift," he said. Last year, Harris hosted a high-profile lunch for Prime Minister Narendra Modi during his historic State Visit. "I was at the lunch sitting on the head table with her husband and also with the prime minister and with the vice president Kamala Harris. The sense of chemistry, camaraderie was very, very vibrant. It felt like it was not a state lunch. It felt more like a marriage ceremony taking place," he said. "There was a lot of energy between the prime minister and Kamala Harris, and they talked about a lot of issues. I think the chemistry is there. Now we have to see that once she becomes the president, that the policy does not change and I feel that there will not be a change in policy there," Aghi said. In her remarks on June 23 at the luncheon she hosted for Modi, Harris said India is part of her life. "The history and teachings in India and of India have not only influenced me, they, of course, have shaped the entire globe, as Secretary (of State, Tony) Blinken just described. Throughout history, India has inspired millions of people around the world, whether through philosophy and theology, the power of civil disobedience, or the commitment to democracy," she said. "Indeed, as I travel the world as vice president, I have seen India's global impact firsthand. In Southeast Asia, Indian-made vaccines have saved lives and livelihoods. On the continent of Africa, India's long standing partnerships support prosperity and security. And throughout the Indo-Pacific, India helps promote a free and open region," she then said. India's global engagement, she said, has not only been to the benefit of the people of India but also to the benefit of the people of the United States and people around the world.

No shift in India policy under Kamala Harris, says president of US-India Strategic and Partnership Forum

Climate Action 15: 2024's top global innovators powering green solutions

Davos, The proportion of CEOs who believe global economic growth will improve over the next 12 months has more than doubled since last year, the annual <keyword id="20211002" type="General" weightage="20" keywordseo="pwc-global-ceo-survey" source="keywords">PwC Global CEO Survey</keyword> showed on Monday. The survey, released on the first day of the <keyword id="20020435" type="General" weightage="20" keywordseo="world-economic-forum" source="keywords">World Economic Forum</keyword> Annual Meeting here, also showed that almost half of CEOs do not believe their businesses will be viable in a decade amid acceleration of technology and climate pressures. The survey, which interviewed over 4,700 CEOs across 105 countries and territories, found that 38 per cent of CEOs are optimistic about global economic growth prospects in the next one year, up from 18 per cent in 2023. CEOs' expectations of economic decline have also tumbled from a record high of 73 per cent in the 2023 survey to 45 per cent. Despite ongoing conflicts, the proportion of CEOs who felt their company is highly or extremely exposed to geopolitical conflict risk fell 7 percentage points to 18 per cent. CEOs in most regions of the world were found to be more likely to be optimistic about domestic economic prospects than pessimistic, but <keyword id="19905008" type="General" weightage="20" keywordseo="north-america" source="keywords">North America</keyword> and <keyword id="20055122" type="General" weightage="20" keywordseo="western-europe" source="keywords">Western Europe</keyword> bucked the trend. CEOs overwhelmingly see generative AI as a catalyst for reinvention that will power efficiency, innovation and transformational change, the survey said. At the same time, a great majority of CEOs said they will require workforce upskilling to reap the transformative benefits of generative AI. "This year's data suggests a high degree of CEO uncertainty ahead, but CEOs are taking action. They are transforming their business models, investing in technology and their people and managing the risks and opportunities presented by the climate transition," PwC Global Chair <keyword id="20205687" type="General" weightage="20" keywordseo="bob-moritz" source="keywords">Bob Moritz</keyword> said. If businesses are to thrive over the short and long term, build trust, and deliver sustained and long-term value, they must accelerate the pace of reinvention, he said while releasing the survey results.

Economic optimism doubles but tech, climate pressures accelerate: PwC CEO survey

Whenever <keyword id="2069863" type="General" weightage="100" keywordseo="Bhumi-Pednekar" source="Orion">Bhumi Pednekar</keyword> is mentioned, the image of strong female characters inevitably springs to mind. She has made her mark in films like 'Dum Laga Ke Haisha', 'Toilet: Ek Prem Katha' and 'Bhakshak', earning acclaim for her portrayals tackling social issues. It turns out her dedication to impactful roles extends beyond the silver screen — a commitment that has now earned her recognition as a <keyword id="120368" type="General" weightage="20" keywordseo="Young-Global-Leader" source="Orion">Young Global Leader</keyword> (YGL) by the <keyword id="69007" type="General" weightage="20" keywordseo="World-Economic-Forum" source="Orion">World Economic Forum</keyword> (WEF)! The Young Global Leaders community celebrates individuals under 40 who are actively addressing pressing global challenges. The program aims to empower these exceptional leaders shaping a more sustainable and inclusive future. The Bollywood star will join the prestigious YGL's class of 2024 in Geneva later this year, acknowledged for her efforts in promoting awareness of <keyword id="49089" type="General" weightage="20" keywordseo="sustainability" source="Orion">sustainability</keyword>, and climate change, and her significant contributions during the COVID-19 pandemic. As an ardent advocate for environmental conservation and sustainable living, Bhumi has effectively utilised her fame to champion causes like waste segregation, rainwater harvesting, recycling, and conscious fashion choices. Her role as a climate warrior has also seen her collaborating with activists nationwide, amplifying their voices and supporting initiatives focused on environmental preservation and <keyword id="299722" type="General" weightage="20" keywordseo="climate-action" source="Orion">climate action</keyword>. Expressing gratitude for being named a Young Global Leader, Bhumi shared: “I am deeply honoured and humbled to be recognised by the World Economic Forum as a Young Global Leader. Through my work, I have strived to ignite conversations, inspire action, and foster tangible change in the realm of sustainability and climate change. “I aspire to cultivate a diverse portfolio as both an actor and entrepreneur, and I look forward to realising these ambitions through the World Economic Forum's YGL program. This validation also reaffirms my belief in the power of collective action. I am committed to continuing my efforts and I look forward to collaborating with fellow Young Global Leaders to drive positive change.” In addition to Bhumi, the WEF has also acknowledged four other Indians for their significant contributions in their respective fields and their commitment to effecting positive change. These individuals, including <keyword id="2422251" type="General" weightage="20" keywordseo="Adwaita-Nayar" source="Orion">Adwaita Nayar</keyword> (CEO of Nykaa), <keyword id="4976567" type="General" weightage="20" keywordseo="Arjun-Bhartia" source="Orion">Arjun Bhartia</keyword> (Director at Jubilant Group), <keyword id="8656479" type="General" weightage="20" keywordseo="Priya-Agarwal-Hebbar" source="Orion">Priya Agarwal Hebbar</keyword> (Non-Executive Director at Vedanta Limited) and <keyword id="1011865" type="General" weightage="20" keywordseo="Sharad-Vivek-Sagar" source="Orion">Sharad Vivek Sagar</keyword> (Founder and CEO of Dexterity Global), join nearly 90 changemakers from various sectors in this year's YGL cohort. Together, they are dedicated to leaving a lasting impact on their communities and beyond.

Young Global Leader: World Economic Forum recognises Bhumi Pednekar for her role in promoting sustainability

India offers huge <keyword id="20009960" type="General" weightage="20" keywordseo="investment-opportunities" source="keywords">investment opportunities</keyword> worth over <keyword id="20120060" type="General" weightage="20" keywordseo="USD-500-billion" source="keywords">USD 500 billion</keyword>, particularly in <keyword id="19914923" type="General" weightage="20" keywordseo="clean-energy" source="keywords">clean energy</keyword> value chain including <keyword id="19955662" type="General" weightage="20" keywordseo="renewables" source="keywords">renewables</keyword>, <keyword id="19990484" type="General" weightage="20" keywordseo="green-hydrogen" source="keywords">green hydrogen</keyword> and <keyword id="19931191" type="General" weightage="20" keywordseo="EV" source="keywords">EV</keyword>, by 2030, the <keyword id="19910473" type="General" weightage="20" keywordseo="Commerce-ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Commerce ministry" meta.hostid="153" meta.entityid="Commerce ministry">commerce ministry</keyword> said on Thursday. This was stated by Commerce Secretary Sunil Barthwal, who is in Singapore for the two-day meet of the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum. The meeting, which started on Wednesday, brought together the region's top investors, clean economy companies, and start-ups to mobilise investments into <keyword id="20900661" type="General" weightage="20" keywordseo="sustainable-infrastructure" source="keywords">sustainable infrastructure</keyword>, <keyword id="21246486" type="General" weightage="20" keywordseo="climate-technology" source="keywords">climate technology</keyword>, and renewable energy projects. The 14-member IPEF bloc was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23, 2022, in Tokyo. Together, they account for 40 per cent of the world's economic output and 28 per cent of trade. The framework is structured around four pillars relating to trade, supply chains, clean economy and fair economy. India has joined all the pillars except the trade. Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, the US, and Vietnam are members of the bloc. Barthwal, during the inaugural IPEF Clean Economy Investor Forum, acknowledged the forum as a unique platform that brought global investors, policy makers, and academia under one roof, which would be instrumental in advancing sustainable infrastructure in the Indo-Pacific Region. The secretary while addressing the forum underlined the huge investment opportunities that "India offers of more than USD 500 billion, particularly in the clean energy value chain including renewables, green hydrogen and EV and its infrastructure transition, by 2030". Barthwal also highlighted key reforms around ease of doing business in India to improve business environment over the last decade. During the two-day event, more than 300 participants from financial institutions, multilateral development banks, venture capital funds, project owners, entrepreneurs and government agencies from IPEF partners actively participated under the sustainable infrastructure and climate tech engagement tracks. In the sustainable infrastructure track, after the screening, "four companies (ReNew Power, Avaada Energy Pvt Ltd, Indusbridge Capital Advisors LLP. Founder, SEIP, and Powerica Ltd) from India were shortlisted for pitching their concepts on energy transition, transport and logistics, and waste management/waste to energy to global investors," the ministry said. Similarly in the climate tech track, 10 Indian startups and companies (BluSmart, Recykal, LOHUM, Sea6 Energy, EVage Ventures, Kabira Mobility, Batx Energies, Newtrace and Alt Mobility, igrenEnergi, Inc.) were selected to pitch their innovative ideas, technologies and solutions that contribute to mitigating or adapting to climate change. Further, the ministry said that the forum resulted in USD 23 billion investment opportunities for sustainable infrastructure projects in the Indo-Pacific. The coalition estimates that its members, taken together, have over USD 25 billion in capital that can be deployed in Indo-Pacific emerging market infrastructure investments in the coming years. DFC's (Development Finance Corporation) Board has also approved an equity investment as part of the USD 900 million Eversource Climate Investment Partners-II fund, which will provide capital, management, and expertise to innovative companies using new and existing capabilities to address climate change in India and Southeast Asia. It added that the IPEF partners and the Private Infrastructure Development Group announced the operational launch of the IPEF Catalytic Capital Fund, which would deploy concessional financing, technical assistance, and capacity-building support to expand the pipeline of quality, resilient, and inclusive clean economy infrastructure projects in emerging and upper-middle income economies, for instance, projects in development include a renewable energy platform in India. The fund's founding supporters include Australia, Japan, Korea, and the US, which plan to provide USD 33 million in initial grant to catalyse up to USD 3.3 billion in private investment. "A coalition of investors, including Singapore's Temasek and GIC, have committed to injecting USD 25 billion in infrastructure investments in emerging markets that are part of an economic alliance between the US and several Asia-Pacific countries," it added. The event also witnessed signing of an offtake agreement between Sembcorp Green Hydrogen India, Kyushu Electric and Sojitz for production and export of 200 KTPA (kilotonne per annum) green ammonia from India to Japan. The programme was attended by ministers from Singapore and Japan and Barthwal. The agreement aims to increase production and export of 200 KTPA green ammonia in Phase-I (total 800 KTPA in 4 phases) at Tuticorin Port in India and export to Japan. The project proposed above would further the objective of the National Green Hydrogen Mission implemented by India towards making the country as global hub for production and export of green hydrogen and its derivatives. During an interaction with Indian companies and startups, Additional Secretary in the Department of Commerce and India's Chief Negotiator for IPEF Rajesh Agrawal said the forum provides an opportunity for Indian companies and startups to seek funding and collaborate with global investors.

India offers USD 500 billion investment opportunities in clean energy, green hydrogen and EV by 2030

<ul><li>In recent years, Bhumi has stepped onto a bigger stage – one where the spotlight shines on environmental and climate awareness. </li><li>Acknowledging her efforts, the <keyword id="19984049" type="General" weightage="20" keywordseo="UNDP" source="keywords">UNDP</keyword> named her as India's first National Advocate for <keyword id="19950641" type="General" weightage="20" keywordseo="sustainable-development-goals" source="keywords">Sustainable Development Goals</keyword> (SDGs).</li><li>In an exclusive interview with <keyword id="21390875" type="General" weightage="20" keywordseo="Business-Insider-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Business Insider India" meta.hostid="261" meta.entityid="Business Insider India">Business Insider India</keyword>, <keyword id="19939209" type="General" weightage="100" keywordseo="Bhumi-Pednekar" source="keywords">Bhumi Pednekar</keyword> spoke about her struggles with eco-anxiety and her take on the <keyword id="20000756" type="General" weightage="20" keywordseo="climate-action" source="keywords">climate action</keyword>.</li></ul> Lights, camera, Earth! When we first saw Bhumi Pednekar in Dum Laga Ke Haisha in 2015, we witnessed her impressive acting skills and her ability to connect with the audience. With time, she grew into a formidable presence on the Indian cinema landscape, paving the way for socially-aware, yet entertaining filmography. In recent years, this Bollywood superstar has stepped onto a bigger stage – one where the spotlight shines on environmental and climate awareness. In a world where the spotlight often blinds stars to the sufferings of the planet and its people, Bhumi reminds us that every person on this planet needs to keep that spark for eco-consciousness alive. In an exclusive interview with Business Insider India, Bhumi Pednekar spoke about her struggles with eco-anxiety during her early years, her efforts to strike a balance between her professional career and environmental responsibilities, her advice for the younger audience, and her take on the climate action across the globe. <a href="https://www.youtube.com/watch?v=QDxplE0_Os4" data-type="tilCustomLink">Catch the full interview here!</a> <div type="image" title="Actress Bhumi Pednekar" agency="Business Insider India" msid="109502773" hostid="261" caption="&amp;lt;p&amp;gt;Actress Bhumi Pednekar&amp;lt;/p&amp;gt;"></div> “When I started my climate journey, it was a very lonely path for me, Every time I spoke about it, people made fun of me. Eventually, through the years, I met like-minded people, and I realised that this is a real problem. Even today, I get really worried, I have bouts of anxiety and go into a spiral that you know, what will happen now and so on. In such times, what truly helps me is to actually do something towards dealing with the problem,” says Bhumi. Acknowledging her efforts to spread awareness on these critical topics, the United Nations Development Programme (UNDP) named her as India's first National Advocate for Sustainable Development Goals (SDGs). Just last month, the World Economic Forum (WEF) recognised her as a Young Global Leader (YGL). On <keyword id="21293562" type="General" weightage="20" keywordseo="Earth-Day" source="keywords">Earth Day</keyword> 2024, she also joined UNDP’s global initiative called the ‘The Weather Kids’ — a global campaign to raise awareness about climate change and drive the world towards taking meaningful climate action. Talking about the campaign Bhumi Pednekar stated, "I’m deeply disturbed by Climate Change and the impact that it is having the world over. I have dedicated my life to working on this and helping raise awareness… I have always been committed to using my platform to raise awareness about the urgency of climate action and to empower individuals and communities to adopt sustainable practices. Together, we can make a difference and create a more sustainable and resilient world for future generations.” Further, Bhumi’s role as a <keyword id="21390874" type="General" weightage="20" keywordseo="climate-warrior" source="keywords">climate warrior</keyword> has also seen her collaborating with activists and institutions nationwide, amplifying their voices and supporting initiatives focused on environmental preservation and climate action. As an ardent advocate for environmental and climate action, she has effectively utilised her fame to champion causes like waste segregation, rainwater harvesting, recycling, and conscious fashion choices. <div type="image" title="Actress Bhumi Pednekar" agency="Business Insider India" msid="109503174" hostid="261" caption="&amp;lt;p&amp;gt;Actress Bhumi Pednekar&amp;lt;/p&amp;gt;"></div> “Climate Warrior, which is our nonprofit, is an advocacy platform I started in 2019. The idea was to bring all the work of creating awareness under one umbrella. And then we started the Bhumi Foundation, through which we are again just trying to streamline everything that we do, we have not opened it up for others to come in and work,” said Bhumi, encouraging younger generations to also find their own tribe to influence and drive change. The theme for today’s World Earth Day 2024 is Planet Vs Plastic, and it is time for all of us to gauge our individual and collective impact on our environment and try to reduce it. “One big thing that we can do is to look for and support businesses that are trying to go green and create a positive impact on our planet. If investors support such businesses, and consumers pick such products, our carbon footprint can be lesser,” explains Bhumi. “Every day is Earth Day. This is our only home, there is no alternative, and there is no plan B! The way we show empathy and sympathy towards our loved ones, we should show empathy towards everybody else that we share this planet with. It really breaks my heart when you see on the news that a major city like Bangalore is still witnessing a water crisis and our capital city Delhi has winter days where schools are canceled because of the pollution. We are all in this together, we all are a part of the problem. And we all need to be a part of the solution as well,” concludes Bhumi. Disclaimer: The opinions expressed are of the interviewee and do not necessarily reflect the views of Business Insider India. The excerpts has been partly edited for length and clarity.

Earth Day 2024: Actress Bhumi talks about 'Pednekar ke ped', ostrich mentality, climate anxiety and more

<ul><li><keyword id="3198120" type="PERSON" weightage="20" keywordseo="Union-minister-Prakash-Javadekar">Union Minister Prakash Javadekar</keyword> insists that <keyword id="9732443" type="UNKNOWN" weightage="20" keywordseo="lower-carbon-emissions">lower carbon emissions</keyword> will only be possible if the right technology is available at the right place and at the right time.</li><li>He highlighted that the success of the Montreal Plan was partly because it provided compensation for any additional expenditure to mitigate the effects of climate change.</li><li>“India is walking the talk. India is two degrees compliant in actions and in contributions. And, therefore, we’re asking world leaders and other countries that they should also walk the talk and they should also be compliant with the <keyword id="3087299" type="PERSON" weightage="20" keywordseo="Paris-agreement">Paris Agreement</keyword>,” said Javadekar. </li></ul>India is on track to meet its contributions to the Paris Agreement as one of the 195 signatories who have promised to keep the global rise in temperature below 2 degrees Celcius before 2100. However, environment-friendly technology comes at a cost. If it's not affordable, it acts as a barrier to preventing climate change as countries like India endeavour to become green economies, according to Union Minister <keyword id="119642" type="PERSON" weightage="20" keywordseo="Prakash-Javadekar">Prakash Javadekar</keyword>. “I am demanding that technology must be available at an affordable cost. Less emissions will only be possible if the technology is available at the right place,” he said at the <keyword id="10225090" type="UNKNOWN" weightage="20" keywordseo="india-ceo-forum-on-climate-change">India CEO Forum on Climate Change</keyword>. The cost of development India may be among the top five carbon emitters on the planet, but that’s mostly due to its sheer size. Its per capita emissions are only around 1.8 tonnes a year — less than half of the world average. <div type="image" title="IA 9 (2)" msid="79056875" hostid="261" caption="&amp;lt;p&amp;gt;Global greenhouse gas emissions&amp;lt;/p&amp;gt;"></div> Even historically, India's average emissions were around 3%. Today, the emission load stands at around 6%. Javadekar argues that since every person on the globe has the right to development and that any kind of development will have emissions. So, for India, as a developing country emissions are inevitable if it wants to grow. Citing the Montreal Plan as an example, he highlighted how it provided complete compensation for any additional expenditure. “In a thermal power plant if we want to induct FGD technology, it costs ₹50 lakh per MW. It’s a huge cost for a 600 MW generating unit… Cost is a big barrier in making advances,” Javadekar said. Battling climate change Right now, India’s plans to battle climate change include reducing emissions intensity by 50%, restoring around 26 million hectares of land over the next ten years, building 100 gigawatts (GW) of solar energy, and 157 GW of renewable energy by 2022. To top it off, Prime Minister Narendra Modi recently added the goal of 450 GW of renewable energy generation by 2030 — this will account for a little than 40% of India’s installed capacity. “India is walking the talk. India is two degrees compliant in actions and in contributions. And, therefore, we’re asking world leaders and other countries that they should also walk the talk and they should also be compliant with the Paris Agreement,” said Javadekar. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sbi-share-price-rises-over-6-after-strong-earnings-with-analysts-pegging-it-to-be-the-first-to-recover-among-public-sector-banks/articleshow/79055329.cms">SBI rallies over 6% after strong earnings with analysts pegging it to be the first to recover among public sector banks</a> <a href="https://www.businessinsider.in/policy/foreign-policy/news/donald-trump-vs-joe-biden-us-election-result-and-relations-with-india-and-pm-modi/articleshow/79022098.cms">If Joe Biden wins, he’ll be the third US president to deal with Modi — Here’s how that could play out</a> <a href="https://www.businessinsider.in/careers/news/tcs-infosys-hcl-tech-and-others-to-see-more-freshers-than-lateral-hires-in-the-next-six-months/articleshow/79014794.cms">TCS, Infosys, HCL Tech, and others to see more freshers than lateral hires in the next six months</a>

India demands environment-friendly technology to be made available at affordable prices to battle climate change

<ul class="summary-list"><li>Some expat Indians are moving back home to launch companies of their own.</li><li>India's booming market size, internet growth, and post-pandemic spending is driving their decision.</li></ul>Nithin Hassan, 41, has always been fascinated with building something of his own.As a child in India, he would get in trouble for dismantling electronics around the house just so he could peek inside.In college, in true <a target="_blank" class="" href="https://www.businessinsider.com/startups-to-bet-your-career-on-in-2024-2024-2">startup</a> fashion, he started working on a small business out of his parent's garage in Bengaluru, assembling computers for friends and family.It was the early 2000s and the internet was not the trove of knowledge it is today — Hassan was relying on books to learn. Finding mentorship and the right guidance was a challenge, too.Everyone around Hassan told him that going to the <a target="_blank" class="" href="https://www.businessinsider.com/resume-tips-google-software-engineer-skills-experience-careers-software-tech-2024-3">US for a master's degree</a> was the next big opportunity. So he did.Over the next 16 years, he put his startup plans on hold and worked at some of the world's biggest companies, including Amazon, Microsoft, and Meta.<div type="image" title="Nithin Hassan" height="2450" width="3266" msid="113831978" hostid="261" sizebytes="215682"></div>But the pandemic felt like a turning point. And its aftermath made India look like a lab-designed business environment: It had just become the world's most populous country, the pandemic had created <a target="_blank" class="" href="https://economictimes.indiatimes.com/news/economy/indicators/private-consumption-continues-to-be-supported-by-pent-up-demand-finance-ministry/articleshow/99069973.cms?from=mdr">pent-up demand</a> for consumer products, and growing internet adoption made commerce more scalable, he said.So Hassan left behind about $500,000 in annual pay at Meta to move back to Bengaluru in December 2023 with his wife and two children. He has since launched two startups.Hassan is part of a group of <a target="_blank" class="" href="https://www.businessinsider.com/i-moved-back-to-india-after-living-abroad-for-decade-2024-9">expat Indians moving back</a> home to venture out on their own. As such, he's also part of a decades-long trend of reverse migration back to India.The trend began in the 1990s and picked up at the turn of the century, driven by the economic collapse in 2008, said Binod Khadria, the president of Global Research Forum on Diaspora and Transnationalism. Many of those who returned to India for work were largely working for multinational companies.Today, the impetus for the move often looks a bit different: It's driven by factors like unstable visa policies and economic recessions, which lead to uncertainty when it comes to jobs and duration of stay in these destinations.Many returnees find work in tech, but the finance, retail, and climate sectors also absorb a large number of expat Indians, Khadia said. And some of the returnees are heading back to India to start companies of their own.India is undergoing a startup explosion. The country reported over<a target="_blank" href="https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2043805"> 140,800 recognized startups</a> at the end of June — nearly 50,000 more than last year — and credited them with creating 1.6 million direct jobs.To be sure, not all of these companies will make it big — and some do still stumble, like <a target="_blank" class="" href="https://inc42.com/features/what-are-the-current-problems-being-faced-by-oyo/">Oyo </a>and <a target="_blank" class="" href="https://www.businessinsider.com/blackrock-hsbc-funds-byjus-startup-valuation-zero-edtech-india-raveendran-2024-6">Byju's</a>. But the chaos, where even established startups are trying and failing, makes India a fair playing field for new entrants, Hassan said.Business Insider spoke to six <a target="_blank" class="" href="https://www.businessinsider.com/india-vc-wants-see-5-traits-new-founders-fundraising-antler-2024-8">first-time founders </a>about why they have recently returned to India after spending several years, or even an adult life, abroad.<h2 id="0e4a3c47-ba19-4690-8b52-c6bfece1c81d">Fastest-growing economy</h2>The health of the economy and interest from investors are fueling the entrepreneurship boom.<a target="_blank" class="" href="https://www.businessinsider.com/india-billionaire-karan-adani-plans-challenge-china-dominance-seaports-2024-8">India's economic growth</a> in 2023 — 8.2% — was the fastest of all large economies worldwide. That's led to greater purchasing power, which lets companies, including startups, sell more.India's inflation rate of about 3.5% is well below its annual wage growth of 9.6%. This makes inflation less of a challenge than it is for slower-growing peers, where consumer-focused businesses have been <a target="_blank" class="" href="https://www.businessinsider.com/economy-jobs-report-sentiment-consumers-elections-recession-inflation-mortgage-rates-2024-9">hurt by high prices</a>.Investors are getting in on the action.From 2015 to 2021, the number of <a target="_blank" class="" href="https://www.businessinsider.com/sequoia-capital-vc-firm-split-china-india-2023-6">unique investors in India</a> nearly quadrupled, though the number is tracking much lower this year, per PitchBook."Other than a slight downturn in 2022 and 2023 due to global macroeconomic factors, VC funding has been consistently growing in India," said Ben Mathias, a managing partner at Vertex Ventures Southeast Asia &amp; India.Besides funding, domestic developments have encouraged founders and VCs too, Mathias said.The Indian government's Universal Payment Interface system has spurred consumers and businesses to pay online, and <a target="_blank" class="" href="https://www.bcg.com/press/2june2022-digital-payments-in-india-projected-to-reach-10-trillion-by-2026">40% of all digital payments</a> globally happen in India today, the partner said.Programs like Startup India, which provides founders benefits like tax exemption, easier compliance, and funding support, have made creating a company smoother.Devyani Parameshwar worked in the microfinance and fintech space in India in the 2010s before heading to the UK and Africa. She returned to India in 2022 to launch a financial management venture."It's changed dramatically. I remember standing in line at various ministries in Delhi trying to get meetings and then trying to get answers and it wasn't easy in the past," she said of her memories of India.Now, she can use an online platform to ask the country's central bank and banking regulator questions.It's easier than ever for foreign companies to invest in India, which means startups have a clearer exit path through acquisition — something VCs think hard about before entering new markets or writing checks.<h2 id="e5dd7b6f-a09f-4ff2-84c1-5907de96dc5e">Market ripe for the taking</h2>For Rohan Bhide, who spent most of his college and professional life <a target="_blank" class="" href="https://www.businessinsider.com/worked-in-big-tech-before-launching-my-own-startup-engineer-2024-9">preparing to launch something of his own</a>, a trip home in 2017 while he was studying in the US was a turning point.Indian telecom giant Reliance had recently launched a cheap unlimited data plan, which spiked Indian internet adoption. India was charting among the countries with the highest online transactions."That really, really drew my attention," said Bhide, who worked at Meta after graduation. "It was my dream come true — a huge market, a huge user base, and at the same time, the ability to adopt technology was incredible."Bhide returned to India in January, leaving behind about $580,000 in total compensation at ticketing platform StubHub. He and a cofounder are working on launching a consumer tech product later this year.<div type="image" title="Rohan Bhide" height="2304" width="3072" msid="113831979" hostid="261" sizebytes="218468"></div>Most Indians grew up wanting to work at a multinational company — but that's changing, Bhide said.Freelancing, running your own business, or working for a startup is much more socially acceptable now, because people see the success of other Indian startups. The country has the third-largest number of "unicorns" — companies worth $1 billion or more — with 64, per PitchBook.<h2 id="7f423804-745b-4e04-a250-839e01663f09">Boom in entrepreneurship culture</h2>A lot has changed since Hassan first wanted to launch his hardware startup in the early 2000s.Tech hot spots like Bengaluru and Gurugram have seen a boom in entrepreneurship culture in the last few years, with meet-ups, networking mixers, and even morning walks with like-minded builders.<div type="image" title="man standing in front of mountains in USA" height="2268" width="3024" msid="113831980" hostid="261" sizebytes="141132"></div>Dhruv Anand, who left Google in the US to move back to India in 2021 to launch an <a target="_blank" class="" href="https://www.businessinsider.com/ai-startups-most-promising-2024-9">AI startup</a>, said that there were lots of other founders and mentors to help guide him."If you want to figure out who's the right chartered accountant to talk to, who's the right lawyer to help you draft agreements, all of that stuff is very easy," Anand said."It's been a really, really supportive community," Bhide said. There are people "telling you about their entire lives just because they want to help you and they're hoping that you pass the favor onto the next person who moves to India and wants to start their own company."<h2 id="3c8bff36-e855-4530-9b44-bcc7f36b0825">Not everything is perfect</h2>Although these founders made the decision to return to India, that doesn't mean they no longer see the benefits of operating in the US.Ruchit Garg founded an agriculture startup in Silicon Valley in 2016, with a focus on supporting farmers around the globe. In 2019, he returned to India, where his late grandfather worked as a farmer.Garg has been building in India ever since, but he says its startup ecosystem cannot yet compete with the Valley's decades of experience."The overall ecosystem was more mature back in Silicon Valley. It's still one of the best places for entrepreneurs. India isn't there yet, although it's growing pretty drastically," he said.Despite efforts to digitalize key processes, many bureaucratic challenges persist.For most founders, after living in US cities where populations are a fraction of those in Mumbai and Bangalore, congested roads and poorer air quality are also everyday annoyances.But India provides some big perks, including affordable domestic help and the appeal of building solutions for problems they witness firsthand."It's a different joy to be able to build for problems that you feel for very personally," Parameshwar, the fintech founder, said. When she worked in Africa, she needed translators. Now, she can speak with her users herself.Bhide said the general sentiment among local founders is shifting from "Build from India" to "Build for India."For some founders, being surrounded by family and the culture they grew up in was another selling point.Niranjan Vemulkar moved back to India in 2015 and later founded a digital legacy planning platform.He said that he never fully felt at home in the US, where he lived for over a decade."For us, it was the fact that we wanted to raise a family in an environment where the children would have access to the grandparents and Indian culture," Vemulkar said. "The fact that you could come back to India, start something of your own and figure things out in an ecosystem which was potentially booming for startups, was just a cherry on the cake."Are you in India and have a story to share about the tech and entrepreneurship landscape? Please reach out at shubhangigoel@insider.com

Some techies are leaving cushy Silicon Valley jobs to launch startups at home in India

Davos [Switzerland], January 17 (ANI): <keyword id="19895622" type="General" weightage="20" keywordseo="microsoft" source="keywords">Microsoft</keyword> CEO <keyword id="20054589" type="General" weightage="20" keywordseo="satya-nadella" source="keywords">Satya Nadella</keyword> has highlighted the importance of Artificial Intelligence (AI) in science. <keyword id="20130102" type="General" weightage="20" keywordseo="nadella" source="keywords">Nadella</keyword> said science is probably the place where they will start witnessing "real acceleration." Speaking in conversation with <keyword id="20219604" type="General" weightage="20" keywordseo="world-economic-forum-chairperson-klaus-schwab" source="keywords">World Economic Forum Chairperson Klaus Schwab</keyword>, Nadella said, "What AI will do to science is probably the most interesting thing to me because, in fact, just last week, we announced, something, I sort of felt this can be done. I did not understand how this could be done. So we took one of our models called Matogen which is sort of a generative model to generate new molecules and material." "And we put it through an entire round trip where we came up with new molecules for a new material. Went to work in collaboration with one of the national labs in the United States, the <keyword id="20219605" type="General" weightage="20" keywordseo="pacific-northwest-national-lab" source="keywords">Pacific Northwest National Lab</keyword> and figured out how to produce a new battery that got 70 per cent less lithium. That's just phenomenal to sort of when we think about the climate, the energy transition. It's about taking 250 years of chemistry and somehow bringing it down to 25 years right? So, this is a proof point of that," he added. Emphasising the impact of AI in Biology, he said, "The same thing is happening in Biology. If I think about what we're doing even with Page and what we can do with cancer detection or what we're doing with .... again in biology and to be able to use AI to simulate the molecular behaviour. So, I think that science is probably the place where we will start seeing real acceleration." Nadella noted that the digitization revolution has brought new tools to science. However, he added that it has not fundamentally accelerated science. He further said, "But, if you can fundamentally accelerate science, cures to diseases, the energy transition, fundamental new material science. All of these I think, are going to be pretty profound." Satya Nadella stated that a global regulatory approach to AI is desirable as these are global challenges and require global standards. He noted, however, that there "seems to be a broad consensus, though that is emerging." "I think [a global regulatory approach to AI is] very desirable because I think at this point where these are global challenges and require global norms and global standards. Otherwise, it's going to be very tough to contain, tough to enforce, and tough to quite frankly move the needle even on some of the core research that is needed," Satya Nadella said. He stressed that there should be real, rigorous evaluations and safety and guardrails before the launch of anything. "But that said, I must say, that there seems to be a broad consensus that is emerging. If I have to sort of summarise the state of play the way I think we all are talking about it is that it is clear that when it comes to large foundation models, we should have real, rigorous, evaluations and red teaming, safety and guardrails before we launch anything now and then when it comes to applications, we should have a risk-based assessment of how to deploy this technology," he said. "If you are deploying it in healthcare, you should apply healthcare ....If you are deploying it in financial services, you should deploy it again the financial risk a consideration. So, I think if we take something as simple as that as a basis to build some consensus and norms, I think we can come together," he added. He also said that the last thing the world needs is technology, creating a divide and added that they "need to be mindful of it." Nadella said, "The last thing the world needs is technologies that create more of the divide right. I mean, if anything, my hope for sure is centred on realizing what we just talked about. Think about it. You have now a technology like something like GPT-4 that essentially can be used to create a personal tutor for every student in the world right. It's absolutely economically feasible, even with just the government spending that's happening even in the Global South right. So it's not just in the UAE, but it can happen everywhere." Stressing that the tech industry must consider the unintended consequences of new digital technologies along with its benefits, Nadella said that "the biggest lesson learned perhaps for us is that we have to take the unintended consequences of any new technology along with all the benefits and think about them simultaneously as opposed to waiting for the unintended consequences to show up and then address them." He further said, "I think that the fundamental change in last 10 years. I feel like our license to operate as an industry depends on that because I don't think the world will put up any more with any of us coming up with something that has not thought through safety, trust, equity. These are big issues for everyone in the world." (ANI)

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