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After the <keyword id="479174" type="General" weightage="20" keywordseo="Karnataka-cabinet" source="Orion">Karnataka cabinet</keyword> approved a bill that mandates 100% <keyword id="19914887" type="General" weightage="20" keywordseo="reservation" source="keywords">reservation</keyword> for Kannadigas in Category C and D <keyword id="19914922" type="General" weightage="20" keywordseo="jobs" source="keywords">jobs</keyword> in all industries in the state, businessman and philanthropist TV <keyword id="20076594" type="General" weightage="20" keywordseo="Mohandas-Pai" source="keywords">Mohandas Pai</keyword> slammed the state government saying that <keyword id="20374219" type="General" weightage="20" keywordseo="skilling" source="keywords">skilling</keyword> Kannadigas is the only way to promote them for jobs rather than giving them reservation. "If you want to promote Kannadigas for jobs, spend more money on higher education. Give training to them. Spend more money on skill development. Spend more money on internships, spend more money on apprenticeship programs. So they all become skilled. Not like this. What are you trying to achieve by this?," Pai said, speaking on Wednesday. Pai, the Chairman of <keyword id="22445179" type="General" weightage="20" keywordseo="Manipal-Global-Education-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Manipal Global Education Services" meta.hostid="261" meta.entityid="Manipal Global Education Services">Manipal Global Education Services</keyword> said that the Bill is "fascist" and also unconstitutional. "This bill should be junked. It is discriminatory, regressive and against the constitution @Jairam_Ramesh is govt to certify who we are? This is a fascist bill as in Animal Farm, unbelievable that @INCIndia can come up with a bill like this- a govt officer will sit on recruitment committees of the private sector? People have to take a language test?" he had earlier said in a post on 'X'. <keyword id="19896017" type="General" weightage="100" keywordseo="Karnataka" source="keywords">Karnataka</keyword> minister Priyank Kharge however, assuaged the fears of the industrialists saying that wide consultation will be held before the rules of the bill are formulated. "The bill has been brought in by the labour department. They are yet to consult with the industry, the Minister of Industry and the Department of Information Technology. I am sure that before coming up with the rules of the bill, they will have due consultations with the respective ministries and more importantly, a wider consultation with the industry. So there is no need to panic. We are going to safeguard the jobs for the state as well as encourage investments in the industries with their consultation," Kharge said. <keyword id="20582906" type="General" weightage="20" keywordseo="karnataka-industries" source="keywords">Karnataka Industries</keyword> Minister MB Patil said any apprehensions will be resolved in meetings with the Chief Minister "I have seen that many people have apprehension regarding this. We will resolve this confusion. We will sit with the CM and resolve this so that it does not have any adverse effect," Patil told ANI. On Tuesday, the Karnataka cabinet approved a Bill that seeks to reserve 50% of management jobs and 75% of non-management jobs for locals in the private sector. The bill also seeks 100% reservation for locals in "C&amp;D" grade government jobs. On Wednesday, several industry leaders in the state objected to the move saying that it is "discriminatory" and raised apprehensions that the tech industry may suffer.

Spend money on skilling, says Mohandas Pai on Karnataka bill seeking job reservations for Kannadigas

If you step out into <keyword id="19895037" type="General" weightage="100" keywordseo="bengaluru" source="keywords">Bengaluru</keyword> traffic these days, there’s a good chance you’ll discover a bulky water tanker spearheading the all-too-familiar clog in traffic. Amidst the ongoing <keyword id="6355836" type="General" weightage="20" keywordseo="water-crisis" source="Orion">water crisis</keyword>, India’s Silicon City has mobilised thousands of tankers that zip, almost heroically, across the city, rescuing parched residences from the metro’s urban planning crisis. Bidding to reduce their reliance on the exorb<keyword id="6354185" type="General" weightage="20" keywordseo="it" source="Orion">it</keyword>ant tankers — a necessary step after the exhaustion of half the city’s groundwater-fed borewells — many residential societies have begun innovating water-saving techniques, with varying degrees of success. However, for the several businesses and industries littering the metropolitan town, it seems like dark days are looming. <cmsannotation type="cmsannotation" annotationid="IT in turmoil" comment="subhead" text="IT in turmoil">IT in turmoil</cmsannotation> Hosting over 1,400 tech companies that employ tens of lakhs of employees, Bengaluru has certainly earned its title as India’s ‘Silicon Valley’. Not only has this driven a rapid boom in economic, infrastructural and industrial development, the city has acted as a magnet for people looking for attractive employment opportunities. Unfortunately, this success has also resulted in <a href="https://bpac.in/bangalore-population-growth-consequences-and-possible-solutions/" data-type="tilCustomLink">population levels haphazardly spiking</a> from 2,900 people per square kilometre in 2001 to 4,300 within a single decade. Estimates suggest that this figure may have breached 8,000 by now! In addition to deterring water-cooler conversations, the lack of water in their workplaces have led to several companies already urging employees to work from home. Echoing a growing sentiment among the city’s techies, <a href="https://m.economictimes.com/news/india/it-companies-in-bengaluru-urged-to-give-15-lakh-employees-wfh-option-as-city-grapples-with-water-crisis/articleshow/108761390.cms" data-type="tilCustomLink">ex-Chief Justice K Sreedhar Rao also pleaded</a> for temporary remote arrangements for migrant IT workers to depopulate Bengaluru till the water crisis is dealt with. However, many such multinational employees have already begun to preemptively take matters into their own hands by temporarily or permanently moving to other cities, such as the nearby Mysuru. Needless to say, this has disrupted operations for many companies, including some of the top IT firms in Bengaluru. In a surprising turn of tragic events, senior personnel at <keyword id="19969515" type="General" weightage="20" keywordseo="dell" source="keywords">Dell</keyword> have begun skipping meetings to prioritise their procurement of water, reported the Deccan Herald. <cmsannotation type="cmsannotation" annotationid="Real estate rates to fall; restaurants forced to adapt" comment="subhead" text="Real estate rates to fall; restaurants forced to adapt"><keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">Real estate</keyword> rates to fall; restaurants forced to adapt</cmsannotation> With pleasant weather the year round, Bengaluru has proven itself time and again as an excellent place to settle down and relax. The city’s diverse population is a testament to its uncanny ability to draw people from all over India, even before the city’s notable IT boom. Real estate has now hit an all-time high, with high demand and attractive financial options helping the sector grow exponentially in the past few decades, reportedly recording a staggering nine-year-high 54,000 housing units sold in 2023. However, the city’s recent water woes have left potential property investors second-guessing. According to a recent Deccan Herald poll, around 60% of the respondents noted that they have postponed their move to Bengaluru due to the ongoing shortage, while a similar number of people have also begun evaluating investment options in other cities. Homebuyers have also begun to diligently inquire into <keyword id="55273" type="General" weightage="20" keywordseo="groundwater" source="Orion">groundwater</keyword> borewell depths and water-saving technologies when consulting developers. While <a href="https://www.deccanherald.com/business/bengaluru-water-crisis-alarms-property-investors-dh-poll-2930539" data-type="tilCustomLink">many contractors remain firm</a> that these reactions are not representative of a long-term trend, some experts have predicted that a fall in property prices may become inevitable. A <a href="https://www.republicworld.com/business/real-estate/bengaluru-water-crisis-property-prices-in-peenya-hsr-layout-marathahalli-to-fall-15-say-experts/" data-type="tilCustomLink">Republic report</a> explains that house rates could fall up to 10-15% in the most water-stressed regions of East and Central Bengaluru, including HSR Layout, Marathahalli, Rajaji Nagar and Peenya. Needless to say, the crisis has also taken a toll on Bengaluru’s various hotels and eateries, many of which are severely dependent on tanker water for cooking, cleaning and drinking purposes. Krishna Raj, owner of the popular <keyword id="21126683" type="General" weightage="20" keywordseo="nisarg-grand-hotel" source="keywords">Nisarg Grand Hotel</keyword>, <a href="https://www.livemint.com/news/india/bengaluru-water-crisis-news-hotels-disposable-utensils-shortage-lok-sabha-polls-karnataka-dk-shivakumar-congress-bjp-11710055127680.html" data-type="tilCustomLink">explained</a> that they might have to begin serving food in disposable utensils if the trend continues into the summer months. <cmsannotation type="cmsannotation" annotationid="Industrial district parched" comment="subhead" text="Industrial district parched">Industrial district parched</cmsannotation> Located in Northwest Bengaluru, Peenya is home to thousands of industries of varying sizes, producing a host of electronics, textiles, packaging, machines and other consumer items. However, being one of the largest industrial areas in Asia hasn’t protected its businesses from the ongoing crisis. In an <a href="https://www.business-standard.com/industry/news/bengaluru-water-crisis-to-impact-local-industries-in-coming-weeks-experts-124030601026_1.html" data-type="tilCustomLink">interview with Business Standard</a>, <keyword id="21126682" type="General" weightage="20" keywordseo="peenya-industries-association" source="keywords">Peenya Industries Association</keyword> President H. M. Arif explained that the area’s micro-industries are strained to the point that many could be forced to close soon if the water crisis continues unmitigated. Many such sectors have also become hopelessly reliant on tanker water, and the associated rising costs have begun to bottleneck the manufacturing process. Prices of several commercial products could go up soon if this trend continues. “Many from the hosiery or garment sector need water for processing,” Arif explains. “You need water for workers as well as other needs. The government is saying it will source recycled water for the industry. But for that, there is a tendering process and at this rate, we will not get water this season.” <cmsannotation type="cmsannotation" annotationid="Solutions and cautious optimism" comment="subhead" text="Solutions and cautious optimism">Solutions and cautious optimism</cmsannotation> This is not to say that the government isn’t taking measures to tackle the crisis. After ordaining centralised control over water tankers and actively regulating prices to ensure the city’s water isn’t hoarded solely by the rich, officials also placed bans on recreational water use. In addition, initiatives are underway to “inject” 1,300 million litres of purified water into the city’s drying lakes per day, which the officials allege will help restore local groundwater levels. <keyword id="19927086" type="General" weightage="20" keywordseo="bwssb" source="keywords">BWSSB</keyword> has also announced plans to build an array of next-gen water treatment plants near restored lake beds to purify and deliver water wherever required. Addressing the harsh summers ahead, Karnataka government officials have expressed optimism that the completion of the Cauvery Five — a massive array of treatment plants that will treat sewage to produce 100 million litres of water a day — will help make up for any deficits by July. Meanwhile, many large corporations, including Microsoft, have begun utilising water-saving tap aerators to control water flow in the Bagmane Business Park offices. The city’s water board, the BWSSB, has also launched four mobile apps to help tackle the city’s water crisis. Attempting to bridge a gap between the water department and the citizens it serves, these apps will help residents book water online, apply for borewell permissions, report water misuse and more. At 24% of its total capacity, reservoirs across Karnataka are also drying up. Despite growing shortages, the state government has assured that the Cauvery River reservoir that supplies water to Bengaluru holds sufficient water levels to last at least until June. After that, the pre-monsoon and monsoon rains are expected to replenish the water resources. However, the supply remains much lower compared to the demand, and the only way to survive this summer could be to adopt drastic water-saving measures and a few good spells of pre-monsoon showers.

Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?

Nearly 88 per cent of the investments made by Alternative Investment Funds (<keyword id="1006423" type="General" weightage="80" keywordseo="aifs" source="Orion">AIFs</keyword>) under the Startups <keyword id="3483659" type="General" weightage="80" keywordseo="ffs" source="Orion">FFS</keyword> (Fund for Funds) Scheme have gone to five states. <keyword id="6354780" type="General" weightage="20" keywordseo="karnataka" source="Orion">Karnataka</keyword> has topped the list of states with an investment of Rs 4,687 crore out of the total investment of Rs 14,077 crore spread across the country. The Fund of Funds for Startups (FFS) Scheme was approved and established in 2016 with a corpus of Rs 10,000 crore, with contribution spread over the 14th and 15th Finance Commission cycle based on progress of implementation, to provide a much-needed boost to the Indian startup ecosystem and enable access to domestic capital. As on December 31, 2022, under FFS, Rs 7,980 crore has been committed to 99 AIFs and Rs 3,400 crore has been disbursed to 72 AIFs which have in turn made investments of Rs 14,077 crore in 791 startups. The government data said that while Karnataka got an investment of Rs 4687 crore for 240 startups under the scheme, Maharashtra's 176 startups received an investment of Rs 3,426 crore and Delhi's 138 startups got Rs 2,254 crore. Similarly, in Haryana 60 startups received an investment of Rs 1,148 crore and in <keyword id="20154" type="General" weightage="50" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword>, 29 startups got an investment of Rs 826 crore. Under FFS, the Scheme does not directly invest in startups, instead it provides capital to SEBI-registered Alternative Investment Funds (AIFs), known as daughter funds, who in turn invest money in growing Indian startups through equity and equity-linked instruments. The <keyword id="104385" type="General" weightage="50" keywordseo="small-industries-development-bank-of-india" source="Orion">Small Industries Development Bank of India</keyword> (SIDBI) has been given the mandate of operating this Fund through selection of suitable daughter funds and overseeing the disbursal of committed capital. AIFs supported under FFS are required to invest at least two times of the amount committed under FFS in startups. The Government with an intent to build a strong ecosystem for nurturing innovation, startups and encouraging private investments in the startup ecosystem of the country launched Startup India initiative on January 16, 2016. The flagship Schemes including Fund of Funds for Startups (FFS), <keyword id="9949511" type="General" weightage="50" keywordseo="startup-india-seed-fund-scheme" source="Orion">Startup India Seed Fund Scheme</keyword> (SISFS) and Credit Guarantee Scheme for Startups (CGSS) support startups at various stages of their business cycle to enable startups to graduate to a level where they are able to raise investments from angel investors or venture capitalists or seek loans from commercial banks or financial institutions. Officials said that over 50 regulatory reforms have been undertaken by the Government since 2016 to enhance ease of doing business, ease of raising capital and reduce compliance burden for the startup ecosystem. Besides, to enable ease of procurement, Central Ministries and Departments have been directed to relax conditions of prior turnover and prior experience in public procurement for all DPIIT recognised startups subject to meeting quality and technical specifications. Further, Government e-Marketplace (GeM) Startup Runway has been developed which is a dedicated corner for startups to sell products and services directly to the Government. The Government also implements flagship annual exercises and programs including States' Startup Ranking, National Startup Awards and Innovation Week which play an important role in holistic development of the startup ecosystem. The Government also facilitates participation and engagement of the Indian startup ecosystem at international platforms. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/chatgpt-wrote-6-love-letters-as-the-bard-chandler-bing-an-srk-fan-more-heres-what-it-missed/articleshow/97823242.cms">ChatGPT wrote 6 love letters as the Bard, Chandler Bing, an SRK fan &amp; more – here’s what it missed</a> <a href="https://www.businessinsider.in/finance/news/direct-tax-collections-fy-2022-23-records-growth-at-15-67-lakh-cr/articleshow/97821630.cms">Direct Tax Collections (FY 2022-23) records growth at ₹15.67 lakh cr</a> <a href="https://www.businessinsider.in/thelife/news/poet-amjad-islam-amjad-passes-away-at-78-adnan-sami-pays-condolences/articleshow/97815855.cms">Poet Amjad Islam Amjad who wrote Man Ki Lagan, passes away at 78</a>

88% of ₹14,000 cr AIF funding goes to startups in 5 states - Karnataka tops the list

<ul><li>Wine makes up for 1% of total alcohol sales in India, but is expected to grow at a CAGR of 10% for the next five years. </li><li>Indians prefer wines made of 100% grapes, and the sales of those made of molasses and sugar are declining. </li><li>Domestic wine makers are launching premium wines like Dindori, J'NOON, Signet, La Reserve, Syrah-Grenache &amp; more. </li></ul>Let's catch up over drinks – Well, this get-together catch phrase might be losing sheen as it seems the current generation — millennials and GenZs — are not as <a href="https://economictimes.indiatimes.com/news/how-to/what-is-dry-dating-and-why-is-it-popular/articleshow/97885741.cms?from=mdr"> keen on drinking on</a> dates. In fact, they drink for different reasons too, for experience rather than intoxication — all good news for wine and beer makers, says a report by Kotak Institutional Equities. “We note that the share of low-alcohol beverages is expected to grow faster as consumers mature and social drinking increases as against intoxication,” said the report. That’s beer and wine. India has been a spirits market constituting whisky, brandy, rum and more such. It constitutes half the share of alcohol (51%) consumed, and if value is to be counted, it contributes to 76%. Next comes beer which makes up for 46% of the volumes. Wine constitutes a miniscule percentage of the market. India’s per capita wine consumption is less than 100 ml, translating into less than a percent of overall alcohol consumption as against the global average of about 13%. Wine consumption is higher in developed countries and is as high as 30% in select European countries — where meals are paired with wines. Now, with changing preferences which should lead to a market expansion, Kotak expects the wine segment to grow at 10% compounded annual growth rate (CAGR) in volumes, over the next five years. Breaking the barriers Adding to the trend is the breaking of cultural taboos around drinking that’s bringing more women in as consumers — globally the biggest chunk of wine drinkers. “The perception of wine as a healthier alternative and a more sophisticated beverage for socializing plays a significant role in promoting wine among women. This expanding segment of independent women will play a crucial role in driving the penetration of the wine category,” the report added. The love for wine is also expected to spread across the country too. As of now, select urban centers like Mumbai, Bengaluru, Delhi NCR, Pune and Hyderabad – contribute over 70% of the sales. That’s yet another lever for growth. In addition to more sales of wine in metros, the demand is expected to pick up in tier 1 and tier 2 cities too, Kotak expects. The fine wine experience Though India has few wine drinkers, most of them seem to be connoisseurs. Apart from the premium wines which are made of 100% grapes, there are also wines made out of molasses and sugar where the alcohol content is under 20%. The 100% grape wine market will grow faster than the category — at 12.5%. “The fortified wine segment, at the lower end of the popular segment, is witnessing a decline due to inferior quality and shift in consumer preference to 100% grape wines,” says Kotak. There are more reasons to believe that the higher-end wines will see more sales. Rise in prominence of on-trade channels and occasions and disposable income; rapid urbanization and rising influence of social media on millennials say Kotak. More importantly, wine drinking is considered ‘aspirational’ and that’s where Indian consumers are heading. Desi winemakers score better In spite of aspiration and premiumisation, Indians are not necessarily going for imported products either. “None of the major global wine or alcoholic beverage manufacturers, except for Pernod Ricard, achieved significant prominence within the Indian wine sector,” said Kotak. On the other hand, Indian wine players are introducing new products to their premium portfolios. Sula launched The Source, Rasa and Dindori in the last five fiscal years. Fratelli, in collaboration with Boisset, introduced J'NOON as its premium brand. Grover Zampa entered the premium wine category, with brands such as Signet and La Reserve in collaboration with Chateau D'Etroyes. It also introduced new blends such as Syrah-Grenache to elevate its presence in the premium segment. The presence of more good quality wines made from local grapes grown in Maharashtra and Karnataka, propelled by <keyword id="1037465" type="General" weightage="20" keywordseo="wine-tourism" source="Orion">wine tourism</keyword> and more — are all expected to bode well for Indians who seem to be shifting to elite drinking. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/indias-five-smartest-angel-investors-who-are-close-to-cracking-the-unicorn-code/articleshow/101361142.cms">Anupam Mittal to Snapdeal founders: Meet the smartest Indian angels cracking the unicorn code</a> <a href="https://www.businessinsider.in/business/news/over-a-100-mn-indians-have-tried-products-pushed-by-influencers-and-its-growing/articleshow/101331878.cms">Over a 100 mn Indians have tried products pushed by influencers and its growing</a>

You Searched For "karnataka industries" and got 4 results

Spend money on skilling, says Mohandas Pai on Karnataka bill seeking job reservations for Kannadigas

ANI

Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?

Ankush Banerjee

88% of ₹14,000 cr AIF funding goes to startups in 5 states - Karnataka tops the list

IANS

The Indian wine market is growing as millennials seek experience over intoxication

Katya Naidu

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