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The <keyword id="19900359" type="General" weightage="100" keywordseo="indian-navy" source="keywords">Indian Navy</keyword> has freed an <keyword id="20375812" type="General" weightage="20" keywordseo="Iranian-fishing-vessel" source="Orion">Iranian fishing vessel</keyword> that was hijacked by pirates and rescued its crew of 23 <keyword id="92998" type="General" weightage="20" keywordseo="Pakistani-nationals" source="Orion">Pakistani nationals</keyword>, following "intense coercive tactical measures" as part of an <keyword id="587932" type="General" weightage="20" keywordseo="anti-piracy-operation" source="Orion">anti-piracy operation</keyword> at sea that lasted for more than 12 hours, officials said. Following Friday's operation, specialist teams from the Navy undertook a thorough sanitisation and seaworthiness check of the fishing vessel in order to escort it to a safe area for resuming normal fishing activities, according to an official statement shared by a Navy spokesperson. The Navy said late on Friday evening that it was engaged in an operation to free the fishing vessel from pirates. Nine armed pirates had reportedly boarded the vessel. The hijacked vessel was intercepted on Thursday, the Navy said. "INS Sumedha intercepted FV 'Al Kambar' during early hours of Friday and was joined subsequently by the guided missile frigate INS Trishul," it said. "After more than 12 hours of intense coercive tactical measures as per the SOPs, the pirates on board the hijacked fishing vessel were forced to surrender. The crew, comprising 23 Pakistani nationals, have been safely rescued," the Navy added. The fishing vessel was approximately 90 nm (nautical miles) southwest of Socotra when the pirates reportedly boarded it, it said. The Indian Navy said it remains committed to ensuring maritime security in the region and the safety of seafarers, "irrespective of the nationalities". The <keyword id="9465424" type="General" weightage="20" keywordseo="Socotra-Archipelago" source="Orion">Socotra Archipelago</keyword> is in the northwest <keyword id="12350" type="General" weightage="20" keywordseo="Indian-Ocean" source="Orion">Indian Ocean</keyword> near the Gulf of Aden. The Navy will take "affirmative action" to ensure a safer and more secure Indian Ocean Region, its chief, Admiral R Hari Kumar, told a press conference on March 23 while citing the anti-piracy and other maritime security operations undertaken by the naval force in the preceding 100 days under "<keyword id="21061783" type="General" weightage="20" keywordseo="Op-Sankalp" source="Orion">Op Sankalp</keyword>". As part of the maritime security operations, the Navy has undertaken anti-piracy, anti-missile and anti-drones operations. A total of 110 lives -- 45 Indians and 65 foreign nationals -- were saved during "Op Sankalp" in that 100-day period, according to a PPT presentation given by a naval officer before the Navy chief's press conference. It was also mentioned in the presentation that from November last year till March, "more than 90 maritime incidents have happened", including 57 drone or missile attacks or sightings and 39 incidents of <keyword id="6358364" type="General" weightage="20" keywordseo="piracy" source="Orion">piracy</keyword>, hijacking and suspicious approaches.

Indian Navy frees Iranian fishing vessel hijacked by pirates, rescues 23 Pakistani crew members

First International cruise ship 'Viking Mars' on Wednesday arrived in the coastal state of <keyword id="826" type="General" weightage="100" keywordseo="goa" source="Orion">Goa</keyword> with around 650 passengers and other crew members. Docked at the international cruise berth of Mormugao Port Authority, the cruise is scheduled to halt for a day in the coastal state. Mormugao BJP MLA <keyword id="183632" type="General" weightage="50" keywordseo="sankalp-amonkar" source="Orion">Sankalp Amonkar</keyword>, after welcoming the tourists in the traditional way, said that the arrival of an international cruise will help the economy of the state. "It will help all stakeholders of the tourist area, not only from my constituency but also from others where these tourists visit," he said. He said that tourism activities had gone standstill due to the COVID pandemic, but now things are improving. "People faced loss during COVID, but now it seems there will be good business as tourists have started to come," he said. <keyword id="3606029" type="General" weightage="50" keywordseo="amonkar" source="Orion">Amonkar</keyword> said that such international cruises should stay in Goa for a longer duration so the tourists can explore Goa. "I have placed my demand that cruises should stay here for a longer duration and not only for one day. Tourists love to visit Goa and hence they should be given more time to travel here," he said. Travel and Tourism Association of Goa (TTAG) President <keyword id="45076" type="General" weightage="50" keywordseo="nilesh-shah" source="Orion">Nilesh Shah</keyword> told IANS that it is a good sign for tourism that international cruises have started to arrive in Goa. "I think things are improving and more tourists will arrive in Goa," he said. <keyword id="1858" type="General" weightage="50" keywordseo="shah" source="Orion">Shah</keyword> said that this will help hotels, taxi drivers, ecotourism and other stakeholders to get the business. He said that cruise operators could think of increasing the time for stay in Goa, provided Port charges are minimised and economical transport service is provided. "We will have to give them more facilities at the port and a proper environment will have to be created. Only then cruise operators can think of increasing timing," he said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/delhis-aqi-improves-to-moderate-category-with-176-aqi-today/articleshow/95549297.cms">Delhi's AQI improves to 'moderate' category with 176 AQI today</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/icici-venture-funds-invests-360-crore-in-houseware-brand-cello-world/articleshow/95552460.cms">ICICI Venture Funds invests ₹360 crore in houseware brand Cello World</a>

First International cruise 'Viking Mars' arrives in Goa with 650 passengers onboard

<ul><li><keyword id="6355100" type="ORGANIZATION" weightage="20" keywordseo="Indian-Navy">Indian Navy</keyword> launched <keyword id="7783016" type="UNKNOWN" weightage="20" keywordseo="operation-sankalp">Operation Sankalp</keyword> in the Gulf region to ensure safe operation and passage of Indian vessels. </li><li><keyword id="2262479" type="PERSON" weightage="20" keywordseo="INS-Chennai">INS Chennai</keyword> and <keyword id="7783015" type="UNKNOWN" weightage="20" keywordseo="ins-sunanya">INS Sunanya</keyword> have been deployed to conduct MarItime Security operations. </li><li>The Information Infusion Centre - Indian Ocean Region in Gurugram is closely watching every ship movement in the region. </li></ul>The Indian Navy on Thursday launched Operation Sankalp to safeguard its vessels transiting through the Persian Gulf and the Gulf of Oman. This comes amidst growing tensions in the Middle East, after attacks on oil tankers. Two tankers were attacked in the Gulf of Oman last week and four tankers in international waters close to United Arab Emirates (UAE), on May 12, <a href="http://defencenews.in/article/Indian-Navy-executes-Operation-Sankalp-for-Gulf-region-amid-rising-US,-Iran-tension-585379">as per sources</a>. US President Donald Trump had accused Iran for the attacks and threatened it of consequences. Recently, a US drone was also shot down in the region and Iran’s Revolutionary Guards claimed responsibility, <a href="https://edition.cnn.com/2019/06/20/middleeast/iran-drone-claim-hnk-intl/index.html">as per sources</a>. Security Operations The Indian Navy has deployed a destroyer INS Chennai, and a patrol vessel INS Sunanya in the Persian Gulf and the Gulf of Oman. They will execute Maritime Security Operations, tweeted Indian Navy spokesperson. <a href="https://twitter.com/indiannavy/status/1141693211674435584">https://twitter.com/indiannavy/status/1141693211674435584</a> Along with the Maritime Security Operations, the Navy is also going to conduct aerial surveillance by a naval aircraft in the area. The Information Fusion Centre - Indian Ocean Region, that was launched by the Indian Navy in December 2018 at Gurugram, is also keeping a close watch on the movement of ships in the Gulf region. In a press release, the Navy said that two advisories were issued by DG Shipping on June 13 and June 16 to all Indian Flagged Vessels operating in the Strait of Hormuz, Persian and the Arabian Gulf region to undertake appropriate protection measures. It is to be noted that nearly 75% of the world’s maritime trade and 50% of global oil trade operates and transits through the Indian ocean region. SEE ALSO: <a href="https://www.businessinsider.in/indian-army-is-setting-up-integrated-battle-groups-along-the-pakistan-border-which-will-be-self-sufficient-to-fight-a-war/articleshow/69884097.cms">Indian Army is setting up ‘Integrated battle groups’ along the Pakistan border which will be self-sufficient to fight a war</a>

Amid heightened tensions in the Gulf between the US and Iran, Indian Navy launches Op Sankalp to safeguard Indian vessels

<keyword id="6354692" type="ORGANIZATION" weightage="20" keywordseo="Travel">Travel</keyword> sector is growing phenomenally with Indians booking tickets on the fly. As the market is set to grow from 18 million to 30-50 million outbound travelers in the next 5-7 years, there is fleet of travel start-ups in the market currently but one of them claims to have turned profitable this financial year. Established in October 2011, <keyword id="944934" type="COMPANY" weightage="20" keywordseo="TravelTriangle">TravelTriangle</keyword> is India’s first full stack holiday marketplace with a team of 400 people, and a team of 650+ expert agents across the globe. The company wanted to connect travelers with safe, reliable, local and verified holiday planners in various destinations around the world. The <keyword id="355954" type="ORGANIZATION" weightage="20" keywordseo="USP">USP</keyword> of the company, undoubtedly, is its personalized approach, intelligent product and reliable fulfillment. The company has served travelers from 60 countries and has successfully served over 20 lakh+ travelers visiting the website every month with 65+ destinations on its platform. <div type="embedgroup"> <div type="Article" hostid="261" msid="59110186" title="Exclusive: There’s a new ‘Mood Store’ at Jabong; this is why it’s convenient" rank="1.0" kind="RELATED" publishDate="Jun 12, 2017, 5:13 PM" mstype="2" mssubtype="0"></div></div> Business Insider spoke to Sankalp Agarwal, CEO &amp; Co-Founder, TravelTriangle who said that while the company has turned unit-wise profitable, they are aiming to be <keyword id="63060" type="ORGANIZATION" weightage="20" keywordseo="EBITDA">EBITDA</keyword> profitable in next year, “We have seen the impact that agent networks in the marketplace have had so far, and with more suppliers joining us, travelers will further benefit through cheaper prices and a wider range of high-quality services. As more suppliers successfully scale their operations, their ability to offer lower prices and better services has increased, bringing more customers on to the platform. We are also expanding our market by providing new inventory that never existed in the market like weekend getaway packages, experiential holidays, etc.”<div type="embedgroup"> <div type="Article" hostid="261" msid="59048930" title="Lay&amp;#39;s has a new concept and it was released at the Milan Design Week" rank="1.0" kind="RELATED" publishDate="Jun 08, 2017, 2:00 PM" mstype="2" mssubtype="0"></div></div>
 TravelTriangle, India’s largest and fastest growing marketplace, has set yet another benchmark, achieving unit economics profitability (earning revenues on every transaction post marketing, payment gateway, support &amp; ops cost) and securing a gross marginal value of Rs. 350+ crore as of March 2017. The company became Contribution Margin Net Marketing (CMNM) positive in 6 key geographies in June 2016 including an international market. As of April 2017, TravelTriangle has achieved unit economics profitability across all geographies in the market. The start-up banks on ccustomization as the key to improving product and meeting the evolving demands and choices of consumers and provides 3 unique services for travellers: 1. Multiple quotes from verified &amp; reviewed travel agents: The smart algorithm matches travellers with multiple leading travel specialists who are best qualified to design the dream itinerary. Multiple quotes give travellers a comparison of prevalent options and provide easy price discovery &amp; savings. 2. Make it the customer’s way: Travel agents work along with the traveller to plan the itinerary by understanding the traveller’s needs and then customize further as per requirements. Customization is an important tool enables travellers to book affordable holidays with travel agents. <div type="embedgroup"> <div type="Article" hostid="261" msid="58995138" title="Indian SMEs confident about their growth in 2017, according to this American Express Survey" rank="1.0" kind="RELATED" publishDate="Jun 05, 2017, 1:00 PM" mstype="2" mssubtype="0"></div></div>
 3. Assured Last Mile Delivery: Each travel specialist partner is personally and meticulously verified. TravelTriangle also offers its customers the money safe guarantee – a service unique to the whole travel sector. The verification system conducts regular checks to monitor the safety of the customer’s money and ensure that travel agents provide the services as promised.

Here's why this Indian travel startup has become profitable

There is a common perception that life could be better only in metro cities, but India’s tier-II cities are developing fast and offering opportunities for growth. One such example is Bhubaneswar, which is slowly becoming a hub for research and technology startups in the eastern region. 
 

	Let’s read about a person who moved from Kolkata to Bhubaneswar, looking for more opportunities to grow. Young geneticist <keyword id="2872592" type="UNKNOWN" weightage="80" keywordseo="Birendranath-Banerjee">Birendranath Banerjee</keyword> studies the effect of lifestyle stresses on one's genes at <keyword id="543180" type="ORGANIZATION" weightage="80" keywordseo="KIIT-University">KIIT University</keyword> in Bhubaneswar. He was not happy teaching in his hometown Kolkata when KIIT offered him a job with a promise of complete intellectual freedom. KIIT was then in the initial stages of setting up a business incubator, and Banerjee in the early stages of setting up a company. It was a perfect match. The company, <keyword id="2872593" type="UNKNOWN" weightage="80" keywordseo="InDNA">InDNA</keyword>, was set up in 2012. In just three years, it is expanding to Kolkata, Hyderabad, <keyword id="6354321" type="CITY" weightage="80" keywordseo="Bengaluru">Bengaluru</keyword> and other cities. Banerjee got Rs 1 crore from the department of biotechnology, and Rs 2 crore subsequently from rich doctors in the region. 
	 

	He is talking to large companies to provide testing services for their employees, and to figure out how much stress has influenced the functioning of their genes. "We are looking at the effect of lifestyle on the entire genome," says Banerjee.
 

	InDNA is the most high-tech among the KIIT incubator companies. In the past four years, KIIT has invested Rs 15 crore in its building and Rs 10 crore in equipment, for which the DBT provided Rs 9 crore. It has incubated 34 companies, nine of which have moved out to their own offices and are in business. Bhubaneswar has other startups too, as the large IT companies have come to the city. With several institutes of higher education, including an <keyword id="6354859" type="COMPANY" weightage="80" keywordseo="IIT">IIT</keyword>, the city is slowly setting the foundation for becoming a hub for research and technology startups in the eastern region. Says Mrutyanjay Suar, director of biotechnology at KIIT: "Bhubaneswar is at the same stage where Bengaluru was in the early 1990s." 
	 

	With its sketchy business history and laidback culture, Bhubaneswar at first seems an unlikely birthplace for 21st century startups. None of its educational institutions has set the country on fire through its research. The city is well laid out but retains its rural charm, being on the edge of a large forest and an elephant trail. 
	 

	And yet there are signs of the city developing as a major eastern hub, as people of eastern origin started preferring the city to Kolkata. Consider IIT Bhubaneswar, one of the youngest among the country's elite institutions. It will eventually have a 1,000-acre campus, but it currently operates from a partially-abandoned government building, an environment that does not bother some of its young and distinguished faculty. 
	 

	Let’s talk about another person who fulfilled his dream in the city. 
	 

	Saroj Nayak returned from Rensselaer Polytechnic in the US a year ago to be a professor at IIT, despite several attempts by this famous institution to keep him back. Power cuts greeted him when he sat in his makeshift office, a situation he had never faced in his life. 
	 

	His answer was to make solar back-up system, which he now sells through his startup Karma. This unit, replete with a solar panel, a battery, a fan, phone charger and a light, sells for around Rs 4,500. Nayak also had a fair bit of intelligence built into the system for energy management. "We are trying to reduce the environmental impact of energy generation with minimal investment,” he says. The city is now sprouting luxurious new buildings, some of them built by large IT companies. <keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword> was the first, as it built its first campus outside Bengaluru. TCS has one of its swankiest offices in the city. MindTree has built a learning centre in Bhubaneswar right next to TCS, and sends all its new recruits for intensive training there. Chip design firm <keyword id="25700" type="ORGANIZATION" weightage="80" keywordseo="Sankalp">Sankalp</keyword> too has a development centre here. Bhubaneswar has some native IT startups too. Software services firm <keyword id="2873029" type="UNKNOWN" weightage="80" keywordseo="ESSPL">ESSPL</keyword>, started in the city in 1998, has offices around the world. AABSys, a geospatial and design software services company founded in 1996, is now a medium-sized company. But the current generation of startups, particularly from KIIT, are venturing beyond IT and solving problems of people in the region. 
	 
	 
	(Image: Indiatimes)

Know how Bhubaneswar is getting smart

New Delhi: <keyword id="19907577" type="General" weightage="20" keywordseo="shares" source="keywords">Shares</keyword> of <keyword id="19956271" type="General" weightage="20" keywordseo="ola-electric-mobility" source="keywords">Ola Electric Mobility</keyword> Ltd surged nearly 16 per cent on Friday morning after the <keyword id="21622893" type="General" weightage="20" keywordseo="Ola-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Group" meta.hostid="261" meta.entityid="Ola Group">Ola Group</keyword> announced its foray into the <keyword id="20314533" type="General" weightage="20" keywordseo="electric-motorcycle" source="keywords">electric motorcycle</keyword> segment with the launch of three models and two more in the pipeline. The company also reported a jump in revenue from operations for the April-June quarter of 2024-25. The stock jumped 15.77 per cent to Rs 128.09 on the BSE. At the NSE, it soared 15.59 per cent to Rs 128.20. <keyword id="19897349" type="General" weightage="100" keywordseo="Ola-Electric" source="keywords">Ola Electric</keyword> Mobility on Wednesday reported a jump in revenue from operations in the April-June quarter of FY25 at Rs 1,644 crore against Rs 1,243 crore revenue recorded in the same quarter of the previous fiscal. The June quarter has been a "good quarter" in terms of growth and profitability, Chairman and CEO <keyword id="19914967" type="General" weightage="20" keywordseo="Bhavish-Aggarwal" source="keywords">Bhavish Aggarwal</keyword> said in a post-earnings call. Meanwhile, the group has rebranded its ride-hailing service as Ola Consumer, announced a partnership with Open Network of Digital Commerce (ONDC) and launched automated warehousing solutions to cater to quick commerce requirements. Besides, Ola said it will bring to the market the first indigenously designed and developed family of chips for AI, general computing and Edge by 2026 under its Krutrim venture. Speaking at Sankalp 2024 - Ola's annual launch event on Thursday, Ola Founder Bhavish Aggarwal said currently, two-thirds of India's two-wheeler market consists of motorcycles, and it was imperative for the company to enter the segment. "We have already been successful in accelerating the EV adoption in the scooter segment, and with our futuristic portfolio of products, we are now focused on supercharging the EV penetration through our motorcycles," he said. Aggarwal also said Ola's indigenously developed 'Bharat 4680' cell and battery pack will be integrated with its own vehicles starting in the first quarter of FY26. The company so showcased its all-new Gen-3 platform for two-wheelers. "Coupled with the integration of our cells in our vehicles starting early next year, we are determined to chart a new course for mass EV adoption across India," Aggarwal added.

Ola Electric shares surge nearly 16 percent

A C-17 tactical transport aircraft of the <keyword id="15141" type="General" weightage="100" keywordseo="Indian-Air-Force" source="Orion">Indian Air Force</keyword> (<keyword id="6355075" type="General" weightage="20" keywordseo="IAF" source="Orion">IAF</keyword>) executed a <keyword id="20990311" type="General" weightage="20" keywordseo="precision-airdrop" source="Orion">precision airdrop</keyword> of two combat boats along with marine commandos in the <keyword id="6368835" type="General" weightage="20" keywordseo="Arabian-Sea" source="Orion">Arabian Sea</keyword> while assisting the Navy to seize a hijacked cargo vessel from <keyword id="6701762" type="General" weightage="20" keywordseo="Somali-pirates" source="Orion">Somali pirates</keyword>. The IAF described the airdrop of the <keyword id="20990312" type="General" weightage="20" keywordseo="Combat-Rubberised-Raiding-Craft" source="Orion">Combat Rubberised Raiding Craft</keyword> (CRRC) boats and the <keyword id="3679963" type="General" weightage="20" keywordseo="MARCOS-commandos" source="Orion">MARCOS commandos</keyword> as a "remarkable display" of "jointness" between the two forces. The Navy on Saturday captured 35 pirates and freed 17 hostages held by them after seizing the former Maltese-flagged merchant vessel around 2,600 km from the Indian coast in a well-calibrated operation. The nearly 40-hour operation saw the Navy deploying its stealth-guided missile destroyer INS Kolkata, patrol vessel INS Subhadra, long-endurance Sea Guardian drones besides airdropping of the elite marine commandos -- MARCOS -- using the <keyword id="650946" type="General" weightage="20" keywordseo="C-17-aircraft" source="Orion">C-17 aircraft</keyword>. The merchant vessel Ruen was seized by the Somali pirates in December off the coast of Somalia. "In a remarkable display of #Jointness &amp; #Integration, an IAF C-17 aircraft executed a precision Airborne Drop of two Combat Rubberised Raiding Craft (CRRC) boats, along with <keyword id="6355100" type="General" weightage="20" keywordseo="Indian-navy" source="Orion">Indian Navy</keyword> MARCOS in Arabian Sea in support of ongoing anti piracy Op Sankalp," the IAF posted on 'X'. "Flying for almost 10 hrs to an area 2600 kms off the Indian Coast, the Op was carried out to rescue crew of bulk carrier vessel MV Ruen. The ship was hijacked by Somali pirates near Yemeni island of Socotra recently," it said. "Working seamlessly with @indiannavy, the mission was successful with all the 17 crew on-board recovered safely," the IAF added. In a statement, the Navy said the seaworthiness of MV Ruen is being assessed and the vessel carrying approximately 37,800 tonnes of cargo worth around USD 1 million will be brought safely to India. "The culmination of the ongoing anti-piracy operation involving pirate ship Ruen in the Southern Indian Ocean Region highlights the commitment of the Indian Navy towards reinforcing peace and stability, and also to thwart the resurgence of piracy in the region," it said. The Indian Navy deployed over 10 warships to keep a vigil over the strategic waterways following increasing attacks on cargo vessels in the Red Sea by Iran-backed Houthi militants. In the midst of rising global concerns over the Houthi attacks, the Indian Ocean saw rising incidents of piracy.

IAF's C-17 aircraft executes precision airdrop in Arabian Sea, helps Navy seize hijacked vessel

More than a month has passed since the cabinet gave its approval to the Ujwal DISCOM Assurance Yojana or <keyword id="9140" type="PERSON" weightage="80" keywordseo="Uday">UDAY</keyword> for short. The scheme has certain salient features that will help India's growing power sector face one of its most challenging problems. 
 The scheme comes forth at a time when DISCOMs have seen accumulated losses soaring to 3.8 lakh Crores and an outstanding debt of approximately Rs. 4.3 lakh Crore (as on March 2015). Just to put these numbers in perspective, the outstanding debt is close to twice the defence budget of the country at present. A question that naturally arises is what made things come to such a pass? The fact is DISCOMs have been facing problems for a long time now. However, the financial problem that DISCOMs have been facing became acute in the past 4-5 years as they began funding their operational losses by taking on more debt. Debt restructuring for DISCOMs have happened in the past but this time, it appears the government is keen on finding a long-term solution to the problem. Debt at present comes with <keyword id="6371181" type="UNKNOWN" weightage="80" keywordseo="interest-rates">interest rates</keyword> hovering as high as 15%. This high interest cost has trapped DISCOMs in a vicious debt cycle. Due to this the banks, have seen their NPA's rise that is a cause of concern for both the banks and the RBI. 
 
The scheme thus comes at an opportune time and tries to resolve these legacy issues of the Power sector in the next 2-3 years by a four-pronged approach. 
 
First, it seeks to improve the operational efficiencies of the power DISCOMs. It is proposed to be done through proper metering, up-gradation to energy efficient modes like usage of LED's the prices for which have already seen a tremendous downward spiral. Prices of LEDs have seen a tremendous downward spiral due to the removal of supply-side bottlenecks and with that economies of scale bringing prices further down. The measures to improve operational efficiency are done with a view to reducing the average AT&amp;C losses from the present 22 percent to a target of 15 percent by 2018-19. 
 
Second, the scheme proposes a reduction in the cost of power. It is a step that would require improvements across the upstream side of value chain right from the fuel supply to improvements in generation technologies and betterment in the existing and addition of new transmission line infrastructure. The government is keen to bring in improvements in these. In the previous year, the power sector has seen the highest production growth in coal sector as well as the highest capacity addition in the generation and highest ever transmission line additions. 
 
Third, the scheme seeks to reduce the interest cost of DISCOMs. It is to be done by asking states to take over 75 percent of the debt of DISCOMs as on 30 September 2015. The 75 percent debt is in line with the recommendations of the Fourteenth Finance Commission. The scheme proposes it to be done in 2 Phases- the first 50 percent to be taken over in 2015-16 and the rest 25 percent to be taken over by 2016-17. It is expected that this will reduce the interest cost by an estimated 6-7 percent thus disrupting the debt trap in which the DISCOMs seem to be stuck at present. 
 Finally, the scheme seeks to enforce financial discipline in DISCOMs by aligning them with states' finances. The initial years will see the fiscal space remaining the same for states even when they take over the debts. It is to be done by ensuring that for the initial two years evaluation of debt in the <keyword id="6365485" type="UNKNOWN" weightage="80" keywordseo="fiscal-deficit">fiscal deficit</keyword> does not take place. Also, the scheme proposes to make the states accountable by giving them the power to take over and fund at least 50 percent of the future losses (if any) of the DISCOMs in a graded manner. 
 
The scheme is optional and has so far seen has seen enrolment by nine states according to the official Twitter handle of the Power Minister. The scheme overall seems well thought through and is not just a restructuring package but a major reform that will help secure power for all citizens. In the process, it is hoped it will forever change the dynamics of DISCOMs in the country. Other sectors need to bring in such ‘reforms’ to make the states and well as India globally competitive. 
 
The article is co-authored with Sankalp Sharma, Senior Researcher at the Institute for Competitiveness, India. Amit Kapoor is Chair, Institute for Competitiveness &amp; Editor of Thinkers. The views expressed are personal. Amit can be reached at <a href="mailto:amit.kapoor@competitiveness.in">amit.kapoor@competitiveness.in</a> and tweets @kautiliya)

Power Sector
Reforms: The story of UDAY so far

Startup ecosystem in India is coming of age. This is due to the access to finance and especially the deepening of the angel, venture and <keyword id="34499" type="POSITION" weightage="20" keywordseo="private-equity">private equity</keyword> ecosystem in the country. But a crucial question to ask is what kind of startups do we end up celebrating? 
 
Often, the kind of founders that end up being adulated by the fourth estate are people in whom money has been invested. While it is true that an idea in which money has been put can have a game hanging impact, it is equally true that in India quite an number of ideas do not end up being game changers or even have the potential of being potential game changers for the industry. 
 
There are certain trends that are observed in India's deepening startup ecosystem. 
 First, the ideas tend to be too India centric. It is especially true in the case of technology <keyword id="107737" type="ORGANIZATION" weightage="20" keywordseo="Entrepreneurship">entrepreneurship</keyword> where what is observed is that too often the focus is on using existing business model approaches from the west and then reframing them in the Indian context. Take the case of a proverbial <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> (now moved to Singapore) versus an Amazon. It is not to suggest Flipkart is not a good company but just that it is building on an existing idea. 
 
Second, for real progress to happen, business model approaches should not be reframed but rethought looking at the problems people face and finding solutions to those. The question to ponder over here is when will India create the next type of disruptive technology like a Google, or the next Skype that emerged from Tallinn, in Estonia? 
 
Third, too often there is too much of a focus to the point of obsession on technology entrepreneurship vis-a-vis social entrepreneurship. Often the sphere of social entrepreneurship gets neglected which has a huge potential in a country as diverse and large as India and the kind of problems it faces. Also, it is something which can have a good impact for kind of problems faced by Indian society. Should Ela Bhatt of SEWA or even lesser known faces of the social entrepreneurship be less celebrated, lesser known, given lesser funds than technology entrepreneurs is something that our media and investors should seriously think about. Social progress will be balanced only when societal and technology entrepreneurs are given equal space in public life. 
 
Finally, another important point which is not given due credence are deeper structural issues and the quality of mentorship available for both social and technology startups. While some entrepreneurs do get embedded into entrepreneurial networks their remain deeper structural questions that need answers from all actors particularly the state. These pertain to deepening the government- university- research- and entrepreneurial ecosystems and the interactions that can lead to not only more prolific but also more viable ideas and innovations. 
 One must remember the example of <keyword id="6357722" type="COMPANY" weightage="20" keywordseo="silicon-valley">Silicon Valley</keyword> in U.S. to really see how deepening of these four can have a powerful impact on innovation and a nation's growth. Also, the role of the state in context to entrepreneurship must be rethought. The '<keyword id="3003094" type="UNKNOWN" weightage="20" keywordseo="Startup-India">Startup India</keyword>' is a welcome step in this direction. In this context regulations for facilitating entrepreneurs need to brought which help them operate in a manner which benefits everyone. A state facilitating this interaction is important as it leads to the connected benefits of promotion of innovation, solving customer needs and tackling the challenge of job generation. 
 
Over the longer time frame the potential exists for game changing/ radical innovation from India. How it realises it will depend on its performance in resolving some of the crucial factors highlighted above. 
 
(The article is co-authored with Sankalp Sharma, Senior Researcher at the Institute for Competitiveness, India. Amit Kapoor is Chair, Institute for Competitiveness &amp; Editor of Thinkers. The views expressed are personal. Amit can be reached at <a href="mailto:amit.kapoor@competitiveness.in">amit.kapoor@competitiveness.in</a> and tweets @kautiliya) 
 
(Image: Thinkstock)

Here are four trends that are present in Indian startups

The clearance on the HELP (Hydrocarbon Exploration Licensing Policy) some time back is being hailed as a game changer for <a href="http://www.businessinsider.in/searchresult.cms?query=india+energy+sector&amp;sortorder=effectivedate">India's energy sector</a>. It is because India still imports roughly three-quarters of its oil (for domestic needs) from abroad as well as a third of domestic requirement of <a href="http://www.businessinsider.in/searchresult.cms?query=gas&amp;sortorder=effectivedate">gas</a>. 
 
With the new policy being announced it is expected that this excessive dependence on oil and gas from abroad will reduce in due course of time. With this, the government is seen to streamline the processes that make resource allocation more transparent, accountable and efficient in India. 
 
It follows from the way in which the <a href="http://www.businessinsider.in/searchresult.cms?query=coal+auction&amp;sortorder=effectivedate">coal auction</a> process was streamlined by an e-auctioning system and discrepancies removed from the system. It is also evident from the proposal to incentivize commercial mining by giving private players a revenue share in the new mining exploration policy. HELP has three or four salient features, which can assist in strengthening India's oil and gas exploration industry amid global turmoil. 
 
First, the policy is seen to be a natural extension of the experience of New Exploration Licensing Policy (NELP- of which nine rounds had been completed) initiated in 1997 and does away with many of the problems, which have arisen out of successive rounds of NELP. 
 
For example, it does away with the profit sharing model between the government and the contractor and instead now looks to have a share of revenue. Doing so has two benefits. First, it helps reduce interference by the government to check the details of companies to ascertain costs and revenues and second it helps reduce the delays and disputes, which arise out of such contracts. 
 Second, the policy is also looking at an Open Acreage Licensing Policy (OLAP), which will allow Exploration, and Production companies like <keyword id="6354737" type="CITY" weightage="20" keywordseo="ONGC">ONGC</keyword>, <keyword id="6484187" type="CITY" weightage="20" keywordseo="RIL">RIL</keyword>, etc. submit an Expression of Interest indicating the area where they wish to take up operationalisation of activities. Until now the exploration was confined to blocks that had been put on tender by government. This is where the move is seen as a positive step. Contracts will be on a 'biddable revenue sharing' basis, and bidders will be required to quote the revenue, which will be used for assessment of proposal in a transparent manner. 
 
Third, another important distinction between HELP and NELP is that the policy promotes incentive based system for exploration in different areas. Most of India's natural resources in oil are located in the deep water area, and this requires significantly different structure from the government side for exploration. 
 
Taking such considerations into account, the policy proposes a four-way graded system for royalty rates. The four areas include Onland, Shallow Water, Deep Water and Ultra Deep Water Exploration. For Deep Water and Ultra Deep Water Exploration, the royalty rates have been slashed to zero for the first seven years of exploration. Post this initial period the royalty rates will be 5 percent for Deep Water and 2 percent for Ultra Deep Water Exploration. Another improvement is that the policy proposes a single uniform license to enable E&amp;P operators and extract hydrocarbons under the relevant provisions of the Act. 
 
Finally, the policy does well to provide freedom to the contractors for pricing and marketing of crude oil. The policy has provisions for calculation of government revenue. For the purpose, it will be calculated as per the Domestic Natural Gas Pricing Guidelines (DNGPG). 
 
However, in case the price of the find is greater than (DNGPG) in that case the government will calculate the price basis the actual price realised. The provision is seen as a measure to safeguard the revenues of government. Apart from these major steps, the exploration phase has also been increased to 8 years for Onland and Shallow water blocks while for Deep water, Ultra Deep water and Frontier blocks the exploration period has been increased to 10 years. 
 
The policy is seen by the oil industry as a move that could end up creating a rules-based level playing field for E&amp;P companies. Over the longer time frame, the policy will end up creating not just investment and employment but also seems to make India more competitive in exploration and production of crude oil and gas. The implementation it is hoped over the next decade will help India reduce its import dependence and help boost its energy security. 
 
(The article is co-authored with Sankalp Sharma, Senior Researcher at the Institute for Competitiveness, India. Amit Kapoor is Chair, Institute for Competitiveness &amp; Editor of Thinkers. The views expressed are personal.) 
 
(Image: Indiatimes)

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