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Chennai: The <keyword id="20000171" type="General" weightage="20" keywordseo="Tamil-Nadu-government" source="keywords">Tamil Nadu government</keyword> signed agreements with several potential investors, including <keyword id="21472316" type="General" weightage="20" keywordseo="Microchip" source="keywords" meta.keywordsubtype="org" meta.entityname="Microchip" meta.hostid="261" meta.entityid="Microchip">Microchip</keyword>, <keyword id="19941076" type="General" weightage="100" keywordseo="Nokia" source="keywords" meta.keywordsubtype="org" meta.entityname="Nokia" meta.hostid="261" meta.entityid="Nokia">Nokia</keyword> and <keyword id="20160447" type="General" weightage="20" keywordseo="PayPal" source="keywords" meta.keywordsubtype="org" meta.entityname="PayPal" meta.hostid="261" meta.entityid="PayPal">PayPal</keyword>, during Chief Minister M K Stalin's trip to the USA to attract investments to the state. Guidance TN signed a MoU in the presence of the chief minister and Industries Minister, T R B Rajaa, with Microchip, represented by Patrick Johnson and Bruce Weyer, for an R&amp;D Centre in semiconductor technology to be set up at Semmancherry, Chennai, at a cost of Rs 250 crore generating 1,500 jobs. "In the presence of Honourable @CMOTamilNadu Thiru. @MKStalin and Honourable Minister for Industries Dr. @TRBRajaa, @Guidance_TN signed an MoU with Nokia, represented by Mr. Nishant Batra and Ms. Sandy Motley, for a new Nokia R&amp;D Center, their Largest Fixed Network test bed in the world, for innovations in 10G, 25G, 50G, and 100G PON, Fixed Wireless Access, MDU solutions, to be set up at SIPCOT, Siruseri, Chengalpattu at a cost of ₹450 crore generating 100 jobs," Rajaa said in a post on 'X'. Stalin, who is leading a high-level official delegation to the USA, as part of an ambitious goal to transform the state into a USD one trillion economy by 2030, participated in a meeting with potential investors in San Francisco on Thursday. MoUs with Applied Materials, represented by Prabu Raja and Satheesh Kuppurao, for an Advanced AI-Enabled Technology Development Centre for Semiconductor Manufacturing &amp; Equipment to be set up at Taramani, Chennai, generating 500 jobs and Ohmium, represented by Arne Ballantine and Chockalingam Karuppaiah, for a manufacturing facility of components for electrolyser manufacturing and hydrogen solutions systems, to be set up at Chengalpattu, at a cost of Rs 400 crore generating 500 jobs were signed. Also agreements were signed with GeakMinds, represented by Ganesh Gopalakrishnan, for an IT &amp; Analytics Services Centre to be set up at Chennai, generating 500 jobs and with Infinx, represented by Radhika Tandon, for a Technology and Global Delivery Centre to be set up at ELCOT Vadapalanji, Madurai, at a cost of Rs 50 crore generating 700 jobs. The government also inked pact with Yield Engineering Systems, represented by Ramakanth Alapati and Prabhat Mishra, for a product development &amp; manufacturing facility for semiconductor equipment to be set up at Sulur, Coimbatore, at a cost of Rs 150 crore generating 300 jobs and with PayPal, represented by Srini Venkatesan and Zi-Yang David Fan, for an Advanced Development Centre focused on AI, to be set up at Chennai, generating 1,000 jobs, the Industries Minister said in a series of posts. The chief minister would address the Tamil community on August 31, and hold discussions with representatives from the US-based companies at Chicago on September 2, and urge them to invest in Tamil Nadu. During his trip, he would meet the CEOs of Fortune 500 companies. He will return to Chennai on September 14.

Tamil Nadu government inks pact with Microchip, Nokia, PayPal during CM's visit to San Francisco

<ul><li><keyword id="841459" type="General" weightage="20" keywordseo="APSEZ" source="Orion">APSEZ</keyword> witnessed a 62% YoY growth in rail cargo through the Indian Railways' General Purpose Wagon Investment Scheme. </li><li><keyword id="46519" type="General" weightage="80" keywordseo="mundra-port" source="Orion">Mundra Port</keyword>, operating under APSEZ, has managed over 15,000 container trains in FY23.</li><li>Mundra Port witnessed a 4.3% year-on-year growth in double-stack container trains in FY23.</li></ul><keyword id="1697348" type="General" weightage="20" keywordseo="Adani-Ports-and-Special-Economic-Zone" source="Orion">Adani Ports and Special Economic Zone</keyword> (APSEZ), the flagship company of Adani Group, handled the highest ever rail cargo of 120.51 million metric tonnes (MMT) in FY23. It had handled a volume of 98.61 MMT in FY22. APSEZ witnessed a 62% YoY growth in rail cargo through the Indian Railways' General Purpose Wagon Investment Scheme (GPWIS). Mundra Port managed over 15,000 container trains in FY23. In FY23, APSEZ generated an impressive revenue of approximately ₹14,000 crore from rail cargo operations in collaboration with Indian Railways. Mundra Port witnessed a 4.3% year-on-year growth in double-stack container trains in FY23. The utilization of the double stack loading technique for containers on trains ensures energy efficiency and reliability in transportation, leading to reduced per unit cost and enhanced customer satisfaction, the company said. The company said that Mundra Port’s utilization of rail transport significantly reduces the carbon footprint associated with freight transportation. Moreover, the efficient handling of container trains minimizes the reliance on additional truck transport, leading to further reductions in carbon emissions. APSEZ, a subsidiary of Adani Group, has transformed from a port company into an Integrated Transport Utility, offering end-to-end solutions from its port gate to the customer gate. It holds the distinction of being India's largest port developer and operator, with six strategically positioned <keyword id="6413000" type="General" weightage="80" keywordseo="ports" source="Orion">ports</keyword> and terminals on the west coast (Mundra, Dahej, Tuna, and Hazira in Gujarat, Mormugao in Goa, and Dighi in Maharashtra). It also has five ports and terminals on the east coast of India (Dhamra in Odisha, Gangavaram, and Krishnapatnam in Andhra Pradesh, and Ennore, Karaikal, and Kattupalli in <keyword id="20154" type="General" weightage="50" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword>). These ports and terminals account for 24% of the country's total port volumes, enabling the handling of significant amounts of cargo from coastal regions and the hinterland.

Adani Ports records highest-ever rail cargo of over 120 mmt in FY23

The Tamil Nadu government has signed Memorandum of Understanding (MoU) with 59 companies, which will lead to investments worth Rs 35,208 crore coming into the state. The deals were signed during an investors' meet at Coimbatore, which was presided over by Chief Minister M.K. <keyword id="60930" type="General" weightage="20" keywordseo="stalin" source="Orion">Stalin</keyword>. Agreements have been inked with seven companies in the fields of aerospace and defence system manufacturing, and an investment of Rs 485 crore is expected to be generated through this. Stalin said that the deals are an indication that Tamil Nadu is on the right path to become a trillion-dollar economy. He said that despite the challenges of Covid-19 and natural clamaities like rain and its related issues, it is a great moment for Tamil Nadu to attract the investments. The Chief Minister said that it was the third industrial conference in five months, which is a sign of the state government's efforts to promote industrial investment and growth. Stalin also laid the foundation for 13 projects worth Rs 13,413 crore, besides launching commercial production in 10 projects worth Rs 3928 crore. Government officials said that 92,420 people would get employment through these projects. Stalin said that the government is aiming to make the state the fintech capital of the country, as he released a fintech policy. Stalin also released a handbook on aerospace and defence systems. SEE ALSO <a href="https://www.businessinsider.in/business/telecom/news/jio-is-slowing-down-in-the-race-to-500-million-subscribers/articleshow/87862415.cms">Jio is slowing down in the race to 500 million subscribers – a goal set by none other than Mukesh Ambani</a> <a href="https://www.businessinsider.in/business/startups/news/nobroker-is-the-38th-indian-startup-to-be-valued-over-a-1-billion-in-2021/articleshow/87867289.cms">NoBroker is the 38th Indian startup to be valued over a billion dollars this year</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-hikes-tariffs-by-up-to-500-for-its-popular-plans/articleshow/87864183.cms">Vodafone Idea hikes tariffs by up to ₹500 for its popular plans</a>

Tamil Nadu government aims to bring ₹35,000 crore into state by signing deals with 59 companies

<ul><li>Among functional skill suites with the highest intent-to-hire in Q1FY2024, development roles (28%) held the highest share. </li><li>The demand for SAP(16%) expertise has consistently remained high. </li><li>When it comes to demand for technical skills across various sectors, the IT sector (15%) has emerged as the frontrunner with the highest share. </li></ul><keyword id="1458566" type="General" weightage="20" keywordseo="digital-skills" source="Orion">Digital skills</keyword> like <keyword id="15777223" type="General" weightage="20" keywordseo="generative-ai" source="Orion">generative AI</keyword> and <keyword id="771372" type="General" weightage="20" keywordseo="data-analytics" source="Orion">data analytics</keyword> are in high demand and this will only rise signalling exciting prospects for India’s skilled workforce, according to ‘The Skills Report’ by Quess Corp, a business solutions provider. The report indicates that there has been a noticeable increase in the requirement for professionals possessing technical skills such as development, systems, applications, and products (SAP), <keyword id="6356669" type="General" weightage="20" keywordseo="automotive" source="Orion">automotive</keyword> design, testing, and infrastructure support in the first quarter of FY24. <cmsannotation type="cmsannotation" annotationid="In-demand functional suites" comment="subhead" text="In-demand functional suites">In-demand functional suites</cmsannotation> It is seen that 78% of aggregate demand emerges from only five tech skill suites. Among functional skill suites with the highest intent-to-hire in Q1FY2024 development roles (28%) held the highest share. There was a noted demand for developers skilled in over 65 technical proficiencies and platforms. Interestingly, full stack skills exhibited consistent and upwardly trending demand within the <keyword id="6640407" type="General" weightage="20" keywordseo="consulting" source="Orion">consulting</keyword>, automotive, <keyword id="6354778" type="General" weightage="20" keywordseo="banking" source="Orion">banking</keyword>, and telecom sectors. The need for SAP knowledge, accounting for 16% of expertise, has consistently stayed strong, covering both developmental and implementation facets. According to Quess, there was a notable rise in demand for these skills, especially within the consulting and global capabilities centre (GCC) client domains. Automotive design, constituting 14% of the sought-after expertise, stands as another significant skill in high demand. The global and Indian automotive sectors are currently witnessing a notable upswing in the necessity for skilled professionals. This surge can be attributed to the escalating integration of digital technologies into the industry and the growing need for individuals with adeptness in technological domains. Furthermore, there is a distinct rise in the requirement for testing skills (12%), applicable to both manual and automated domains. Particularly striking is the substantial demand for proficiencies in tools such as Selenium, TOSCA, Workday, and ServiceNow. Across various industries, the need for skills related to IT infrastructure support (8%) remains consistent, encompassing both Level 1 and Level 2 support functions. This requirement spans across a wide spectrum of more than 30 specific areas. In tandem with these functional skill sets, there is a call for competencies in domains such as data science, DevOps, cloud computing, enterprise resource planning (ERP), cybersecurity, artificial intelligence (AI), machine learning (ML), user interface and user experience (UI/UX) design, and other related fields. <cmsannotation type="cmsannotation" annotationid="The need for diverse recruitment frameworks" comment="subhead" text="The need for diverse recruitment frameworks">The need for diverse recruitment frameworks</cmsannotation> According to the report, to address the disparity between talent demand and supply, the industry must explore methods to enhance the availability of a skilled workforce using diverse hiring strategies. Utilising Center of Excellence programs, which maintain a pool of pre-assessed and skilled candidates, can expedite recruitment processes for conventional technology skills. For areas with insufficiently available technological expertise, companies can implement hire-train-deploy initiatives to empower candidates to enhance their skills and stay up-to-date with modern technologies. <cmsannotation type="cmsannotation" annotationid="Industry wise tech skills demand" comment="subhead" text="Industry wise tech skills demand">Industry wise tech skills demand</cmsannotation> When analysing the distribution of demand for technical skills across various sectors, the Information Technology (IT) sector (15%) has emerged as the frontrunner with the highest share, closely followed by the banking, financial services, and insurance (BFSI) sector (15%), as well as the digital engineering sector (13%). The telecom and healthcare industries have also experienced positive shifts in sentiment. As the global focus shifts towards renewable energy sources, the oil and gas sector is under pressure to revamp its business strategies and decision-making approaches in order to stay competitive. In response to this challenge, companies are embracing digital solutions to uncover new avenues for revenue generation, enhance production efficiency, and reduce operational costs. Cutting-edge technologies like data analytics, artificial intelligence, and the Industrial Internet of Things (IoT) are empowering these organisations to optimise intricate processes and adapt more adeptly to market volatility, unexpected disruptions, and other challenges. Says Vijay Sivaram, CEO, Quess IT Staffing, “Amid macroeconomic headwinds affecting the US and Europe, the IT services sector faces a downward hiring trend of 25-30%. However, this situation has opened up new opportunities, with GCCs ramping up talent acquisition and projecting an estimated employee strength of 1.4 million, hiring is likely to increase by 10%.” <cmsannotation type="cmsannotation" annotationid="Tech hiring concentrated in IT hubs" text="Tech hiring concentrated in IT hubs">Tech hiring concentrated in IT hubs</cmsannotation> Hiring efforts across India were primarily concentrated in the IT hubs located in Karnataka, Maharashtra, Tamil Nadu, Telangana, and Haryana. The prevalence of remote work policies and the enhancement of data services infrastructure have facilitated an increase in hiring activity in Tier and Tier3 cities. This trend is particularly noticeable within e-commerce and financial services companies. For example, Quess has successfully placed employees in cities such as Jaipur, Coimbatore, Indore, Kochi, Gulmarg, Siliguri, and several others.

Demand for five digital skills like Gen-AI and data analytics to pick steam exponentially

Homegrown vernacular social gaming platform <keyword id="7830073" type="General" weightage="80" keywordseo="winzo" source="Orion">WinZO</keyword> Games on Tuesday said it has challenged <keyword id="6355629" type="General" weightage="100" keywordseo="google" source="Orion">Google</keyword>'s recent policy in the Delhi High Court for the selective inclusion of only daily fantasy sports (DFS) and Rummy games on its <keyword id="1470391" type="General" weightage="80" keywordseo="play-store" source="Orion">Play Store</keyword> that leaves out several skill gaming platforms and local developers. WinZO has sought restraint from the court against Google from implementing the "arbitrary classification which will impact the reputation of its business." WinZO is among industry players, such as Mobile Premier League (MPL) and Zupee, who have called the policy arbitrary, unfair and restrictive. Saumya Singh Rathore, Co-founder, WinZO Games told IANS that there is no evaluation of the impact that is likely to result from such a clearly discriminatory and arbitrary classification by <keyword id="963171" type="General" weightage="50" keywordseo="google-play" source="Orion">Google Play</keyword>. "We fail to understand how Google is being permitted to select that within a set of legal/legitimate businesses, only DFS and Rummy will be onboarded and the other Skill Games, excluded," he stressed. Google was yet to reach on the WinZO lawsuit. Google is set to run a pilot test for the local developers to distribute their daily fantasy sports (DFS) and rummy games apps on Play Store in India, as e-sports become big in the country. Starting September 28, Play Store will begin a limited-time pilot allowing for the distribution of DFS and Rummy apps to users in India by developers incorporated in India. The pilot programme will run from September 28, 2022 until September 28, 2023. According to WinZO lawsuit, the Google policy will not only reduce the marketing cost for players in monopoly to one-fourth of their cost but also create a false perception of legitimation of DFS and Rummy over all other games such as Carrom, Chess, Quiz, etc. "Google's policy can lead to distortions in the competitive Indian gaming ecosystem by resulting in unparalleled access to the 2.5 billion monthly active users across 190 countries where the Google Play Store is available," said the lawsuit. Google Play Store is the largest app distribution platform owning 97 per cent market share in India. Sameer Barde, CEO of E-Gaming Federation had said that the Google move "helps legitimate skill gaming operators grow while eliminating unscrupulous fly-by-night operators," almost implying that companies excluded in the pilot are not legitimised. The Federation of Indian Fantasy Sports (FIFS) Director General, Joy Bhattacharya, had said that Google Play Store is allowing games "recognised by the <keyword id="6354977" type="General" weightage="50" keywordseo="supreme-court" source="Orion">Supreme Court</keyword> of India as regular business activities". In the K.R. Lakshmanan vs State of <keyword id="20154" type="General" weightage="50" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword> (which most of the Rummy Companies cite for legality) case, the Supreme Court inferred Rummy as being a game of skill, and explicitly drew an analogy to other games of skill, like chess and golf. "The year-long pilot is detrimental to thousands of companies and can lead to irreversible market distortion of a fast-moving gaming tech industry, leading to the death of many players as the strong get stronger," Rathore told IANS. WinZO is seeking an injunction restraining Google from implementing its revised Playstore policy, along with a ruling that Google must change its policy to allow all apps offering games of skill on its Play Store and not just a select few. WinZO is available in 12 languages, with over 85 million registered users. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/moodys-withdraws-rating-of-kalyan-jewellers/articleshow/94322833.cms">Moody's withdraws rating of Kalyan Jewellers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/essar-group-targets-key-role-in-building-market-for-hydrogen/articleshow/94325146.cms">Essar Group targets key role in building market for hydrogen</a>

WinZO sues Google for Play Store policy allowing only fantasy sports, rummy games

One of the few positive outcomes of the United Nations Climate Change Conference (COP26) is the commitment by major nations to achieve net zero carbon emissions by a certain year. <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> has also committed to becoming a net zero country by 2070. While some developed nations may have scoffed at this timeline, the reality is that nations with different developmental trajectories cannot (and should not) be treated equally. The major polluters must first walk the talk and then expect others to follow suit. While it is a never-ending blame game between the developed and developing nations, in the interest of humanity and for their own well-being, the nations must do everything within their powers to ensure that they keep their emissions under control. <cmsannotation type="cmsannotation" annotationid="Policy initiatives in India" comment="subhead" text="Policy initiatives in India">Policy initiatives in India</cmsannotation> India has taken several measures towards climate change adaptation and mitigation. Our statutory framework ensures that air and water pollution is prevented and controlled, forests are conserved and restored, biological diversity is protected, and energy is generated and utilised efficiently to ensure minimal environmental impact. The Government has launched various policy initiatives to work towards its climate change commitments. The national and state action plans on climate change aim at integrating such climate action into their modus operandi. Among national schemes, the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-II) focuses on clean mobility and is meant to promote the transition to electric vehicles by providing incentives for manufacturing, adoption and development of associated infrastructure for electric vehicles. Financial assistance is being offered at the central and state levels for developing solar and wind energy projects like solar parks, grid-connected solar rooftops in residential buildings, installing off-grid solar devices and solar-based LED lights. Initiatives like Gujarat Emissions Trading Scheme, Renewable Energy Certificate, Perform, Achieve and Trade (PAT) Scheme are all meant to promote renewables, reduce emissions and achieve energy efficiency at the central and state levels. <cmsannotation type="cmsannotation" annotationid="Recent impetus to climate action" comment="subhead" text="Recent impetus to climate action">Recent impetus to climate action</cmsannotation> Some important and innovative schemes initiated in India to combat climate change include the India Cooling Action Plan 2019, which aims to reduce direct and indirect emissions from energy-intensive cooling devices like refrigerators, air conditioners, etc. The National Clean Air Program 2019 aims to reduce air pollution and addresses several forms of harmful emissions. The National Hydrogen Mission launched in 2021 aims to help India achieve its climate targets by making India a green hydrogen hub. India is also targeting to increase the usage of alternative fuels to reduce emissions by blending 20% Ethanol in petrol by 2025. Moreover, policies like National Building Code, 2016, Energy Conservation Building Code, 2017, Buildings Energy Efficiency Programme, green energy rating system, star rating programme, etc., seek to promote sustainability in the construction sector by improving energy efficiency, water conservation, waste management, recycling, etc. The union budget for the financial year 2022-23 also announced initiatives for financing climate change mitigation and adaptation strategies through sovereign green bonds, blended finance, etc. <cmsannotation type="cmsannotation" annotationid="Local and regional climate action" comment="subhead" text="Local and regional climate action">Local and regional climate action</cmsannotation> In addition to the various central government initiatives being implemented across the country, various states are devising their own strategies and plan to combat climate change. States like Gujarat, Odisha, and <keyword id="20154" type="General" weightage="50" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword> have constituted specific departments and cells to focus on climate change adaptation and mitigation. Kerala has announced a dedicated fund for this purpose and has issued green bonds to invest in climate resilience activities. <keyword id="13126" type="General" weightage="50" keywordseo="maharashtra" source="Orion">Maharashtra</keyword> has released the Mumbai Climate Action Plan to address climate change impacts in the coastal megacity and achieve net zero emissions by 2050. It is not just the central and state governments but also the corporates are taking active steps to combat climate change. More than sixty Indian companies have announced their net zero greenhouse gas (GHG) emissions targets. Leading Indian companies, including <keyword id="8555" type="General" weightage="50" keywordseo="tata" source="Orion">Tata</keyword>, Reliance, Mahindra, ITC, Adani Transmission, Arcelor Mittal Nippon Steel, and Dalmia Cement, have voluntarily pledged to move towards carbon neutrality through GHG emissions reduction and energy efficiency. With environmental, social and governance (<keyword id="77363" type="General" weightage="80" keywordseo="esg" source="Orion">ESG</keyword>) issues gaining prominence and ESG reporting becoming mandatory for the top 1000 companies, almost all major companies are addressing ESG issues to set their house in order and adopt the best practices. Various Indian banks have also incorporated ESG considerations into their lending policies. Therefore, be it the government or the private sector, every stakeholder has realised the importance of climate action and is working to prevent the planetary crisis, which, not to forget, affects almost all living species, including humans. <keyword id="12498063" type="General" weightage="50" keywordseo="nawneet-vibhaw" source="Orion">Nawneet Vibhaw</keyword> is a <keyword id="6399933" type="General" weightage="50" keywordseo="partner" source="Orion">Partner</keyword> at Shardul Amarchand Mangaldas &amp; Co. in the Environmental Law practice. This column is part of a year-long (2022-23) campaign on the theme “Only One Earth: Sustaining People, Planet and Prosperity” by Business Insider India’s <a href="https://www.businessinsider.in/sustainability">Sustainability Insider</a>. Disclaimer: The opinions expressed by the author/interviewee do not necessarily reflect the views of Business Insider India. The article has been partly edited for length and clarity.

OPINION: Towards a carbon-neutral India — How central, state governments, and corporations are striving to tackle the planetary crisis

<ul><li>Farm incomes grew between 1.3-1.7 times in FY22, non-farm income grew between 1.4-1.8 times, according to a <keyword id="3209999" type="General" weightage="20" keywordseo="SBI-report" source="Orion">SBI report</keyword>.</li><li>SHGs are entities, which usually have a membership of 15 to 20 members from very low income families, usually women.</li><li>A total of eight lakh fresh SHGs were financed in FY22 – with Bihar taking the biggest share.</li></ul>Self-help groups (SHGs) are not just providing economic independence to rural women, but also contributing heavily to the growing non-farm incomes across the country. While farm incomes grew between 1.3-1.7 times in FY22, non-farm income grew between 1.4-1.8 times, according to a Special Report on Agriculture by SBI. Rural women and their cottage industries, allied agricultural businesses and petty trade help generate large-scale employment for rural Indians who engage in the seasonal trade of agriculture. “SHGs, crucial in imbibing an entrepreneurial spirit among farmers at the lower band of the spectrum, in particular women, have a high concentration in select states and within those states also they remain confined to certain districts though their performance in aspirational districts of NITI Aayog has been noticeable of late,” says a Special Report on Agriculture by SBI. SHGs are entities, which usually have a membership of 15 to 20 members from very low income families, usually women. They mobilise savings from members and use the pooled funds to give loans to the needy members. <cmsannotation type="cmsannotation" annotationid="Andhra, Telangana rank higher" comment="subhead" text="Andhra, Telangana rank higher">Andhra, Telangana rank higher</cmsannotation> A total of eight lakh fresh <keyword id="6501158" type="General" weightage="80" keywordseo="shg" source="Orion">SHG</keyword>s were financed in FY22 – with Bihar taking the biggest share. Amaravati and Telangana districts together account for a majority of SHG finance. Of the total SHG financing in the country, 18% outstanding belongs to the 124 aspirational districts. Launched in January 2018, the Aspirational Districts programme aims to quickly and effectively transform 112 most under-developed districts across the country. “Aspirational districts programme…has been a ‘huge success’ in just a period of four years at least in respect of SHG financing,” says the SBI report. This concentration, however, is very high in states like Karnataka, where the top five districts accounted for 83% of total SHG financing of the State. Similarly, the top five districts in <keyword id="37102" type="General" weightage="50" keywordseo="andhra-pradesh" source="Orion">Andhra Pradesh</keyword> and <keyword id="20154" type="General" weightage="50" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword> accounted for more than 50% share — all indicating that while a change is afoot, it’s not evenly distributed across the regions of this vast country. <cmsannotation type="cmsannotation" annotationid="UP, Haryana and Punjab have the worst credit quality" comment="subhead" text="UP, Haryana and Punjab have the worst credit quality">UP, Haryana and Punjab have the worst credit quality</cmsannotation> In terms of credit quality, <keyword id="6357713" type="General" weightage="50" keywordseo="uttar-pradesh" source="Orion">Uttar Pradesh</keyword>, Haryana and Punjab rank the lowest — with a high non-performing assets ratio (<keyword id="79363" type="General" weightage="80" keywordseo="npa" source="Orion">NPA</keyword>) of over 25%, according to SBI’s Special Report on Agriculture. <div type="image" title="NPA Ratio" msid="93036535" hostid="261" sizebytes="77358"></div> Arunachal Pradesh and Tripura, with an <keyword id="1039815" type="General" weightage="20" keywordseo="NPA-Ratio" source="Orion">NPA ratio</keyword> of 19 and 18 respectively, are also part of the list of worst NPA states. Andhra Pradesh, however, is the best performing state with an NPA ratio of 0.8. NPA ratio is calculated by dividing non performing assets by total loans given. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/top-10-most-watched-hindi-web-series-on-ott-platform-as-per-omax-report/slidelist/93032569.cms">Top 10 most watched Hindi web originals in the first half of 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/edtech-startup-creative-galileo-raises-7-5-million-in-series-a-funding/articleshow/93029916.cms">Edtech startup Creative Galileo raises $7.5 million in Series A funding</a>

Bihar self-help groups raise the most loans but Andhra tops in loan quality

Sequoia Capital-backed <keyword id="3903861" type="PERSON" weightage="20" keywordseo="Indigo-Paints">Indigo Paints</keyword> has received capital markets regulator Sebi's approval to raise about Rs 1,000 crore through an initial public offering. The IPO comprises fresh issuance of shares aggregating to Rs 300 crore and an offer-for-sale of up to 58,40,000 equity shares by private equity firm <keyword id="122716" type="COMPANY" weightage="20" keywordseo="Sequoia-Capital">Sequoia Capital</keyword>, through its two funds SCI Investments IV and SCI Investments V, and promoter Hemant Jalan, according to the draft red herring prospectus (DRHP). Indigo Paints, which filed its preliminary IPO papers with Sebi in November, obtained its observation on December 31, an update with the capital markets watchdog showed on Monday. Sebi's observation is very necessary for any company to launch public issues, including initial share-sale, follow-on public offer and rights issue. Proceeds from the fresh issuance of shares would be used for expansion of the existing manufacturing facility at Pudukkottai in <keyword id="20154" type="PERSON" weightage="20" keywordseo="tamil-nadu">Tamil Nadu</keyword>, purchase of tinting machines and gyro shakers, and repayment/prepayment of borrowings. According to market sources, the initial public offering (IPO) is expected to fetch Rs 1,000 crore. <keyword id="106209" type="COMPANY" weightage="20" keywordseo="Kotak-Mahindra-Capital-Company">Kotak Mahindra Capital Company</keyword>, <keyword id="6364901" type="DOMAIN" weightage="20" keywordseo="Edelweiss-Financial-Services">Edelweiss Financial Services</keyword> and ICICI Securities are the book running lead managers to the issue. The Pune-based company manufactures a range of decorative paints and has an extensive distribution network across the country. As of September 30, 2020, the company has three manufacturing facilities located in Rajasthan, Kerala and Tamil Nadu. SEE ALSO: <a href="https://www.businessinsider.in/india/news/tatas-got-airasia-stake-at-a-20-discount-while-indigo-and-spicejets-value-has-doubled-since-pandemic-broke-out/articleshow/80101467.cms" data-type="tilCustomLink">Tatas got AirAsia stake at a 20% discount while IndiGo and SpiceJet’s value has doubled since pandemic broke out</a> <a href="https://www.businessinsider.in/business/news/kishore-biyani-lashes-out-at-amazon-says-future-group-was-disillusioned-and-fed-up-with-the-companys-lackadaisical-attitude/articleshow/80107540.cms" data-type="tilCustomLink">Kishore Biyani lashes out at Amazon, says Future Group was disillusioned and fed up with the company's lackadaisical attitude</a>

Sequoia Capital-backed Indigo Paints gets green light from SEBI for ₹1,000 crore IPO

<keyword id="28423" type="General" weightage="80" keywordseo="vedanta" source="Orion">Vedanta</keyword> Ltd has decided to put its 4,00,000 ton per annum (tpa) <keyword id="437023" type="General" weightage="100" keywordseo="copper-smelter" source="Orion">copper smelter</keyword> plant and refining complex at <keyword id="6354388" type="General" weightage="80" keywordseo="tuticorin" source="Orion">Tuticorin</keyword> for sale. The copper smelter plant complex is known as <keyword id="1622540" type="General" weightage="50" keywordseo="sterlite-copper" source="Orion">Sterlite Copper</keyword>. The company along with Axis Capital has called for Expression of Interest (EoI) for its smelter complex (primary and secondary), sulphuric acid plant, copper refinery, continuous copper rod plant, phosphoric acid plant, effluent treatment plant, 160 MW captive power plant, reverse osmosis units, oxygen generation unit and residential complex with amenities. However, an environmental activist, who is against the Copper Smelter plant, wondered whether the company can sell the plant when a case is pending in the <keyword id="6354977" type="General" weightage="50" keywordseo="supreme-court" source="Orion">Supreme Court</keyword>. The decision came as a surprise to many as the company was saying that it would reopen the plant. According to Vedanta, the plant produces about 40 per cent of the country's demand for copper and contributes about Rs 2,500 crore per annum to the exchequer and 12 per cent of Tuticorin Port's revenue. Curiously last March, Vedanta came out with an EoI about its decision to set up a 500,000 tpa copper smelter plant in a coastal region in India. The company has sought expression of interest from coastal states wishing to partner in the project that would have an investment potential of about Rs 10,000 crore through a newspaper advertisement. According to Vedanta, the proposed project would need about 1,000 acre in proximity to port along with logistics connectivity with conveyor/corridor of rail and road to handle five million tpa material movement on both in-bound and out-bound sides. The company said the project has a potential to provide direct and indirect employment to 10,000 people and will contribute about Rs 3,000 crore to the government treasury as taxes and others. Senior officials were not available to reply IANS query whether the company is exiting Tuticorin. Later in a statement, the company said India's copper requirements are set to grow exponentially in the coming years. Having ample supplies of copper is critical to ensuring successful implementation of new-gen technologies such as electric vehicles, rapid automated transport and clean energy, the company said. "We are, therefore, actively on the lookout for a suitable partner state to help take forward the vision of an Atmanirbhar Bharat and ensure that our nation enjoys unfettered access to copper, through a state-of-the-art copper manufacturing plant, the operational and environmental parameters of which are comparable to the best in the world," Vedanta said. According to Vedanta, the closure of Tuticorin copper smelter plant has had a ripple effect in terms of imports and livelihoods. "Post closure, India has become a net importer of copper for the first time in 18 years, with copper imports growing 3X while exports have plunged by 90 per cent. We are continuing to explore all legal avenues towards achieving a sustainable solution to the closure," the company had said. The <keyword id="20154" type="General" weightage="50" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword> government had ordered the copper smelter plant to be shut down in 2018 following a violent protest that led to the death of 13 persons in police firing. The 4,00,000 ton Sterlite Copper smelter plant that has been operating in Tuticorin for over 25 years with a cumulative investment of about Rs 3,000 crore. However, from the start, Sterlite Copper smelter plant has been facing protests by the local people alleging that it pollutes the environment. Originally, the plant was planned in Goa, but it faced severe opposition from the state's people. However, the AIADMK regime under J. Jayalalithaa gave a warm welcome to the project and allotted land at Tuticorin. Ever since then the plant was in the eye of a storm with MDMK leader Vaiko leading a protest against the project and later filing a case. The major political parties in Tamil Nadu -- AIADMK and DMK -- are against Vedanta's copper smelter plant in Tuticorin. The Supreme Court is hearing the case on an appeal filed by the company against the Madras High Court's refusal to reopen the Sterlite Copper smelter plant in Tuticorin. Reacting to the latest advertisement Fatima Babu, one of the persons who had filed a case against Sterlite Copper told IANS: "It has to be seen whether the company can sell the plant when a case is pending in the Supreme Court. There seems to be a hidden agenda in the advertisement as it makes several claims like state-of-the-art plant and others." "Our stand is clear. The copper smelter plant should not be in Tuticorin whether under the name Sterlite Copper owned by Vedanta or by any other owner," she said. She added that if Vedanta wants to set up a new copper smelter then it can do so by complying with the law anywhere else. 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Vedanta puts its copper smelter plant in Tuticorin on sale

Multi-business company <keyword id="6357073" type="General" weightage="20" keywordseo="itc" source="Orion">ITC</keyword> Ltd on Tuesday said it has commissioned a 14.9 MW <keyword id="59444" type="General" weightage="20" keywordseo="solar-power-plant" source="Orion">solar power plant</keyword> in Dindigul, <keyword id="20154" type="General" weightage="20" keywordseo="Tamil-nadu" source="Orion">Tamil Nadu</keyword>. According to the company, the 14.9 MW <keyword id="70990" type="General" weightage="20" keywordseo="solar-power" source="Orion">solar power</keyword> plant was built at an outlay of Rs 76 crore thereby meeting 90 per cent of the company's power needs in Tamil Nadu from renewable sources. ITC plans to meet 100 per cent of the entire grid electricity requirements from renewable sources by 2030 and contribute meaningfully to combat the threat of climate change, the company said. Spread over 59 acres, the Dindigul solar plant will generate over 22 million units of renewable energy annually for ITC's hotels, food manufacturing plants, paper manufacturing facility, and printing and packaging factories in Tamil Nadu. "At ITC, we have relentlessly pursued a mission for environmental stewardship through a gamut of large-scale endeavours that comprehensively address the threat of climate change. Our large-scale investments in renewable energy assets are an integral part of our low carbon strategy aimed at making a meaningful contribution to a net zero economy," Sanjiv Rangrass, Group Head - ITC Life Sciences &amp; Technology, Central Projects, EHS &amp; Quality Assurance said. ITC's renewable portfolio comprises 138 MW of wind power plants and 14 MW of solar plants with 53MW of additional solar capacity under execution. Currently, projects are also underway in other sources of renewable energy like biomass boilers. The company has made investments of over Rs 1,000 crore in renewable energy assets to date. Renewable energy powers 20 factories, nine hotels, and six office buildings of ITC in Telangana, Tamil Nadu, Karnataka, Maharashtra, Andhra Pradesh, Rajasthan, Uttar Pradesh, Delhi, Bihar, Haryana, West Bengal, and Punjab. In 2018, ITC became the first private sector entity to wheel renewable energy across states through the Inter-State Open Access mechanism. Currently, ITC's 46MW Wind power plant in Andhra Pradesh supplies power to over 15 ITC establishments in eight states. This has led to a higher renewable energy utilisation for the company. Besides investing in new renewable energy assets, ITC, as part of its Sustainability 2.0 agenda aims to achieve a 50 per cent reduction in specific emissions and a 30 per cent reduction in specific energy consumption by 2030 over a 2014-15 baseline. Such efforts in decarbonising energy consumption through low-carbon energy solutions will be met through large-scale digitalisation and R&amp;D initiatives, cross-sectoral collaborations, and partnerships. ITC is an exemplar in environment stewardship. The Company was recently rated at the 'Leadership Level' with scores of 'A-' for both Climate Change and Water Security by CDP, one of the most reputed independent global platforms for disclosures on environmental impacts. SEE ALSO <a href="https://www.businessinsider.in/finance/banks/news/rbl-bank-depositors-need-not-worry-assures-rbi/articleshow/88520325.cms" style="">RBL Bank depositors need not worry, assures RBI</a> <a href="https://www.businessinsider.in/stock-market/news/rbl-bank-slumps-15-after-ceo-goes-on-leave-big-investors-are-eyeing-a-piece-of-the-pie/articleshow/88515146.cms" style="">RBL Bank slumps 20% after CEO goes on leave</a> <a href="https://www.businessinsider.in/finance/banks/news/heres-why-axis-bank-may-be-willing-to-pay-2-billion-to-buy-citis-india-ops/articleshow/88407858.cms">Here’s why Axis Bank may be willing to pay $2 billion to buy Citi’s India ops</a>

90% of ITC's power needs in Tamil Nadu will be met through solar energy

New Delhi, The <keyword id="50190" type="COMPANY" weightage="20" keywordseo="Asian-Development-Bank">Asian Development Bank</keyword> (ADB) and the Central government have signed a $100 million <keyword id="6360217" type="UNKNOWN" weightage="20" keywordseo="loan">loan</keyword> to modernise and upgrade the power distribution system to enhance the quality and reliability of electricity supply in Bengaluru. The signatories to the Bengaluru Smart Energy Efficient Power Distribution Project are C. S. Mohapatra, Additional Secretary, <keyword id="144110" type="COMPANY" weightage="20" keywordseo="Department-of-Economic-Affairs">Department of Economic Affairs</keyword> in the <keyword id="156153" type="COMPANY" weightage="20" keywordseo="Ministry-of-Finance">Ministry of Finance</keyword>, who signed on behalf of the <keyword id="6377129" type="COMPANY" weightage="20" keywordseo="government-of-india">Government of India</keyword>, and Hoe Yun Jeong, Official in charge of ADB's India Resident Mission, who signed on behalf of ADB. Beside, the $100 million sovereign loan, ADB would provide a $90 million without sovereign guarantee loan for the project to <keyword id="1551130" type="COMPANY" weightage="20" keywordseo="Bangalore-Electricity-Supply-Company-Limited">Bangalore Electricity Supply Company Limited</keyword> (BESCOM), one of five state-owned distribution utilities in Karnataka. After signing the loan agreement, C. S. Mohapatra said conversion of <keyword id="10541132" type="UNKNOWN" weightage="20" keywordseo="overhead-distribution-lines">overhead distribution lines</keyword> into underground cables would help build an energy-efficient distribution network, reduce technical and commercial losses and minimise electricity outage resulting from natural hazards such as cyclones and external disturbances to overhead lines. ADB's Hoe Yun Jeong said the project demonstrates an innovative financing arrangement, the first of its kind for ADB, by combining sovereign and non-sovereign loans for a state government-owned enterprise. This is intended to significantly reduce the sovereign exposure and help BESCOM move towards a market-based approach for raising funds for capital expenditure. In parallel to underground distribution cables, more than 2,800 km of fibre optical cables would be installed to strengthen the communication network. Moving about 7,200 km of distribution lines underground would help reduce technical and commercial losses by nearly 30 per cent. The fibre optical cables would be used for smart metering systems, distribution automation system (DAS) in the distribution grid, and other communication networks. The project would install 1,700 automated ring main units adapted with a DAS to monitor and control the distribution line switchgears from the control centre. SEE ALSO: <a href="https://www.businessinsider.in/international/news/questions-arise-about-jack-ma-whereabouts-as-alibaba-faces-scrutiny-from-the-chinese-government/articleshow/80090457.cms">Where is Jack Ma? Questions arise about the billionaire’s whereabouts as Alibaba faces scrutiny from the Chinese government</a> <a href="https://www.businessinsider.in/stock-market/news/big-money-chasing-bitcoin-takes-the-cryptocurrency-to-a-new-record-high-of-34000/articleshow/80090730.cms">Big money chasing Bitcoin takes the cryptocurrency to a new record high of $34,000</a> <a href="https://www.businessinsider.in/india/news/pongal-plus-election-dole-cash-rice-sugar-cashews-and-clothes-for-210-million-people-in-tamil-nadu/articleshow/80091546.cms">Pongal plus election dole: Cash, rice, sugar, cashews and clothes for 210 million people in Tamil Nadu</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-stock-surge-the-early-trading-hours-today-after-the-company-reported-a-21-increase-in-total-vehicle-sales/articleshow/80092876.cms">Tata Motors’ rallies over 3% as it outshines Mahindra and Maruti in December sales</a>

You Searched For "tamil nadu generation and distribution company" and got 11 results

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Bihar self-help groups raise the most loans but Andhra tops in loan quality

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Vedanta puts its copper smelter plant in Tuticorin on sale

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