India has improved its position by eleven slots and is now placed at 49th rank as per the Network Readiness Index 2024 (NRI 2024) report released on 21st November 2024, as against 60th rank scored in the NRI 2023 report. In its latest version of 2024, the Report maps the network-based readiness landscape of 133 economies based on their performances in four different pillars
Technology, People, Governance, and Impact, covering a total of 54 variables. The report has been published by the Portulans Institute, an independent non-profit research and educational institute based in Washington DC.
India has not only improved its ranking, but also improved its score from 49.93 in 2023 to 53.63 in 2024.
It is noteworthy that India leads in several indicators. The report states that India secured 1st rank in ‘AI scientific publications’, ‘AI talent concentration’ and ‘ICT services exports’, 2nd rank in ‘FTTH/Building Internet subscriptions’, ‘Mobile broadband internet traffic within the country’ and,
‘International Internet bandwidth’, 3rd rank in ‘Domestic market scale’ and 4th rank in ‘annual investment in telecommunication services.
India has ranked 2nd in the group of lower-middle-income countries after Vietnam. As per the report, India has demonstrated significant digital progress, with notable strengths in technological innovation and digital transformation.
India’s performance in NRI 2024 is latest in a string of advancements in the telecommunications sector. The Department of Telecommunications (DoT) has made significant strides in advancing India's telecommunication infrastructure. Over the past decade, tele density increased from 75.2% to 84.69%, and wireless connections reached 119 crore.
The Digital India has set an example by expanding broadband access to rural areas through partnerships with technology companies, resulting in the sharp rise in internet subscribers from 25.1 crore to 94.4 crore, with a substantial rise in wireless internet usage.
Furthermore, India launched 5G services in 2022, rapidly improving its global mobile broadband speed ranking from 118 to 15. Now, India aims to position itself as a leader in future telecom technologies with the Bharat 6G Vision.
With the raising of Rs 10,000 crore from infra bonds, SBI's total fundraise has touched Rs 50,000 crore so far during the current financial year.
The country's biggest lender State Bank of India earlier this month had raised Rs 10,000 crore through its seventh infrastructure bond issuance.
The bank garnered Rs 5,000 crore AT1 Bonds, Rs 15,000 crore Tier 2 Bonds and Rs 30,000 crore Long Term Bonds till date during FY25 at a very competitive rate, SBI said in a statement.
All these issues have attracted overwhelming responses from investors and were oversubscribed by more than 2 times against the respective base issue size, it said.
SBI Chairman CS Setty said that wider participation and heterogeneity of bids demonstrated the trust investors place in the country's largest bank.
The investors were across provident funds, pension funds, insurance companies, mutual funds, banks etc, it said.
These bonds are of 15 years tenor except for the AT1 Bonds which is perpetual.
As part of the National eGovernance Plan, the eCourts Mission Mode Project is under implementation for Information and Communication Technology (ICT) development of the Indian Judiciary based on the “National Policy and Action Plan for Implementation of Information and Communication Technology in the Indian Judiciary”.
eCourts project is being implemented by Department of Justice in collaboration with eCommittee Supreme Court of India. Phase I of the eCourts project was implemented between 2011-2015. Phase II of the project extended from 2015-2023.
In eCourts Mission Mode Project, during Phase I of the project video conferencing facility has been operationalised between 488 court complexes & 342 corresponding jails. In eCourts Phase II of the project, one video conference equipment each has been provided to all Court Complexes,
including taluk level courts and funds have been sanctioned for additional VC equipment for 14,443 court rooms (High Court-Wise details attached at Annexure I). Funds for setting up 2506 VC Cabins have been made available (High Court-Wise details of VC Cabins attached at Annexure II). VC facilities already enabled between 3240 court complexes and corresponding 1272 jails.
eCourts Phase III with a budgetary outlay of Rs.7210 crore was approved by Union Cabinet in September 2023 for a period of 4 years (2023 onwards) to upgrade digital infrastructure of the lower judiciary.
Under this phase, there is a provision for enhancing and upgrading the available infrastructure of Video Conferencing in 10200 establishments, including 500 Jails, 700 District Government Hospitals and 9000 Courts at an amount of Rs. 228.48 crore.
Union Commerce and Industry Minister Shri Piyush Goyal launched the CII Ease of Doing Business (EoDB) and Regulatory Affairs portal for getting insights into India’s business environment and to receive and track suggestions for improvement.
The portal was launched at the 2nd Department for Promotion of Industry and Internal Trade (DPIIT) – Confederation of Indian Industry (CII) National Conference on Ease of Doing Business in New Delhi. The portal attempts to provide status and updates on key initiatives on Ease of Doing Business by both the government and CII.
Ministry of Food Processing Industries (MoFPI) is implementing a Centrally Sponsored- "Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) Scheme" for providing financial, technical, and business support for upgradation of micro food processing enterprises in the country.
The scheme is operational for a period of five years from 2020-21 to 2025-26 with an outlay of Rs. 10,000 Crore. The scheme aims to enhance the competitiveness of existing individual micro-enterprises in the unorganized segment of the food processing industry and promote formalization of the sector.
The Scheme primarily adopts One District One Product (ODOP) approach to reap the benefit of scale in terms of procurement of inputs, availing common services and marketing of products. It provides the framework for value chain development and alignment of support infrastructure.
The details of financial assistance offered to the prospective entrepreneurs under PMFME Scheme to promote ODOP are at Annexure.
Under the scheme, financial assistance as grant-in-aid is given to Private organizations/ Universities/institutions/R&D laboratories and Council of Scientific & Industrial Research (CSIR) recognized R&D units in private sector,
to the tune of 50% of equipment cost in general areas and 70% in difficult areas and to various Universities, Indian Institute of Technology (IITs), Central/ State Government Institutions, Government funded organizations to promote and undertake demand driven R&D work in food processing sector for product & process development, design and development of equipment,etc.
R&D projects of Government organizations/ Institutions are eligible for 100% grant-in-aid for the cost of equipment, consumables and expenditure related to Research Fellows, etc. R&D portal had been developed through the National Institute of Food Technology, Entrepreneurship & Management (NIFTEM), Kundli, Sonepat, Haryana to disseminate information relating to
research & development work supported by MoFPI scheme, including outcomes, technologies developed, etc. The portal will also be a repository of R&D work by other Ministries/Institutions in the food processing sector.
The National Council for Cement and Building Materials (NCB), an organization under the administrative control of Department for Promotion of Industry and Internal Trade (DPIIT),Ministry of Commerce & Industry, signed two Memorandums of Understanding (MoUs) during the 18th NCB International Conference and Exhibition on Cement and Concrete held at Yashobhoomi, IICC Dwarka.
An MoU was signed between NCB and the Global Cement and Concrete Association (GCCA),India to promote research in the area of decarbonization within the Indian cement sector. The MoU was signed by Dr. L P Singh, Director General of NCB, and Sh. Manoj Rustagi, Director of GCCA, India. This will boost the ongoing efforts in making the Indian Cement Industry “Net Zero” by 2070.
Also, another Memorandum of Understanding (MoU) was signed between NCB and AIC-Plasmatech Innovation Foundation in the application of Thermal Plasma Torch Technology in Cement production. The MoU was signed by Dr. L P Singh (Director General-NCB) and Dr. Nirav Jamnapara (Director-AIC Plasmatech).
General Upendra Dwivedi, Chief of the Army Staff (COAS), launched an online learning platform for the Indian Army nicknamed as “Eklavya”. This initiative aligns with the Indian Army propelling itself into the “Decade of Transformation” as envisioned by the COAS and also with Indian Army’s theme for 2024 as the “Year of Technology Absorption.”
The Eklavya software platform has been developed under the aegis of Headquarters Army Training Command with Army War College as the sponsor agency. The platform has been developed at zero cost through “Bhaskaracharya National Institute of Space Applications and Geoinformatics” (BISAG-N), Gandhinagar, along with support from Directorate General of Information Systems.
The Eklavya software platform has been developed under the aegis of Headquarters Army Training Command with Army War College as the sponsor agency. The platform has been developed at zero cost through “Bhaskaracharya National Institute of Space Applications and Geoinformatics” (BISAG-N), Gandhinagar, along with support from Directorate General of Information Systems.
Student officers are permitted to register for multiple courses simultaneously. A total of 96 courses by 17 Category ‘A’ Training Establishments of the Indian Army have already been hosted on the platform.
There are three categories of courses hosted on the Eklavya platform. The first category is the ‘Pre-Course Preparatory Capsules’
which has study material for all offline physical courses being conducted at various Category ‘A’ training establishments. The aim is to shift the “basics” to the online courses so that physical courses have more and more contemporary content with a focus on the “application part”.
The second category of courses are the “appointment or specific assignment-related courses”. Officers on getting posted to some of the specialist appointments have to learn the craft by getting on-the-job training (OJT) and therefore, it takes a finite amount of time for them to function with full efficiency in those appointments.
The third category of courses is the “Professonal Development Suite” to include courses on Strategy, Operational Art, Leadership, Organisational Behaviour, Finance, Art of Reading, Power Writing, Emerging Technology etc.
The Eklavya also has the functionality of a searchable “Knowledge Highway”,
wherein various journals, research papers and articles etc are uploaded under a single window. The platform will go a long way in encouraging continuous professional military education in the officers, decongest and enrich the existing physical course, preparing officers for specialist appointments and encouraging domain specialisation.
The Securities and Exchange Board of India (Sebi) announced the interoperability of stock exchanges to ensure business continuity in the face of a technical glitch or an outage. The interoperability for cash, derivatives, currency derivatives, and interest rate derivatives will be effective from April 1, 2025.
Stock exchanges have been directed to issue a standard operating procedure (SOP) regarding it in the next two months.
Traders would be able to hedge their open positions by taking offsetting positions in identical or correlated indices on other exchanges, said Sebi.
SBI Funds Management Limited (SBIFM), a joint venture between the State Bank of India and Amundi, Europe’s largest asset manager, has named Nand Kishore as its new Managing Director & Chief Executive Officer.
Kishore succeeds Shamsher Singh, bringing over 34 years of extensive experience with State Bank of India (SBI) across diverse banking verticals,
including international operations, treasury, corporate banking, and retail banking.
Prior to this appointment, he held the role of Deputy Managing Director (Global Markets) at SBI’s Corporate Centre in Mumbai, where he oversaw treasury operations. His notable past roles include Chief Dealer at SBI New York.
Ideal Insurance Brokers, one of India’s leading insurance broking firms, has partnered with insurtech platform Riskcovry to introduce a state-of-the-art digital insurance distribution platform. This collaboration significantly shifts from traditional offline processes to a fully digital and customer-centric approach.
The partnership equips Ideal Insurance with a comprehensive digital suite, providing its team with instant access to a wide range of insurers and products through an intuitive dashboard. Key features include real-time business tracking via robust MIS and reporting tools and streamlined workflows that minimize manual tasks and operational errors.
