All posts by K S Krishna

Eco-Tech Revolution: Student’s Hi-Tech Hat Blends Sustainability and Innovation

A Historic Breakthrough by JIS College of Engineering Student, Redefining Personal Protective Gear with Cutting-Edge Features

30th December 2024: Dhruba Shil, a promising 4th-year student from the Electrical Engineering Department of JIS College of Engineering, has captured attention with a remarkable invention that merges eco-conscious design with cutting-edge technology. Shil’s creation, an intelligent and eco-friendly hat, promises to transform the way workers in industries like farming, policing, and railways tackle the challenges of outdoor environments.

Made from bamboo and palm, the hat not only provides sustainable sun protection but also houses impressive technological features. A solar panel integrated into the design powers a small fan through a rechargeable Lithium-ion battery, ensuring comfort for wearers even in sweltering conditions. Taking innovation a step further, the hat includes a built-in walkie-talkie with a communication range of up to 6 kilometers, GPS functionality for navigation, and an SOS feature for emergencies.

This ingenious invention addresses real-world issues faced by individuals working long hours outdoors, providing a sustainable, energy-efficient, and practical solution that could set new standards for personal protective gear.

Commenting on Dhruba Shil’s achievement, Sardar Simarpreet Singh, Director, JIS Group, said, “Dhruba’s innovation exemplifies the transformative power of youthful creativity and determination. This invention isn’t just a product; it’s a vision of how technology and sustainability can work hand-in-hand to solve everyday challenges. At JIS Group, we are committed to nurturing such talent and promoting an ecosystem where ideas can thrive.”

PHDCCI Advocates for Tax Reforms and MSME Support in Pre-Budget Meeting

During industry interaction with the Hon’ble Finance Minister, Smt. Nirmala Sitharaman, the President of PHD Chamber of Commerce and Industry (PHDCCI), Shri Hemant Jain, presented a series of recommendations aimed at enhancing India’s economic growth.

The suggestions focused on rationalizing the tax structure, bolstering the manufacturing sector, and creating an enabling environment for Micro, Small, and Medium Enterprises (MSMEs) to thrive along with significant reduction in costs of doing business

PHDCCI suggests reducing tax rates for individuals and Limited Liability Partnership (LLP) firms to 25% as this reduction would not only ease the financial burden on businesses and individuals but would also stimulate investment and economic activity across sectors.

A simplified tax structure can reduce compliance costs and increase disposable income, boosting consumer spending. This increased demand encourages business expansion, driving economic growth. Additionally, the reduction in tax burdens can help mitigate inflationary pressures too, said Mr. Hemant Jain.

Mr. Hemant Jain emphasized the need to completely remove the inverted duty structure that currently exists in several industries, particularly in sectors such as cement, aluminium, steel, packaging material, paper and paperboard industry. The inverted duty structure leads to higher costs for domestic manufacturers, hindering their competitiveness in the global market.

Eliminating these inefficiencies would go a long way in bolstering the manufacturing sector, said Mr. Jain

Industry body, PHDCCI further pointed out that the ease of doing business in India needs to be further improved and percolated at the ground level. This includes reducing the cost of doing business, particularly in terms of capital, power, logistics, land, and compliance costs.

According to the PHDCCI, simplifying procedures and cutting down on regulatory burdens would make it easier for businesses to thrive and would encourage both domestic and foreign investments in India.

With these measures in place, India can realize its potential as a global manufacturing hub, improving its position in international trade, said Mr. Jain

PHDCCI is expecting a significant increase in the size of the Union Budget from Rs. 48.2 lakh crore in 2024-25 to over Rs. 51 lakh crore for 2025-26. Capital expenditure, which is crucial for infrastructure development, should also see a marked increase, with PHDCCI suggesting a rise from Rs. 11.11 lakh crore in 2024-25 to over Rs. 13 lakh crore in 2025-26.

Such a capital expansion is seen as critical for enhancing demand trajectory, creating employment opportunities, and spurring overall economic growth, says PHDCCI

Mr Hemant Jain highlights the need for the government to enhance the manufacturing sector, increase infrastructure investment, and promote innovation. The manufacturing sector in India currently contributes around 16% to the GDP, and we should aim to increase this share to 25% by 2030.

To achieve this ambitious target, reforms are needed to enhance productivity and competitiveness in the manufacturing sector supported by a strong demand trajectory.

PHDCCI’s suggestions focus on addressing the key cost drivers in manufacturing, such as the high cost of capital and logistics. Reducing these costs will enable Indian manufacturers to compete effectively in global markets and help increase the share of manufacturing output in GDP

In line with this vision, PHDCCI recommends expanding the Production Linked Incentive (PLI) scheme beyond the 14 sectors. The scheme has been successful in promoting manufacturing in certain sectors and expanding it to include new areas such as medicinal plants, handicrafts, leather and footwear, gems and jewellery, and the space sector would further enhance India’s manufacturing capabilities.

PHDCCI raised the concern of existing inverted duty structures in sectors like cement, aluminium, steel, packaging material, paper and paperboard industry. Mr Jain emphasized that this issue must be resolved to reduce the cost burden on manufacturers, thus improving their global competitiveness.

On the MSME front, PHDCCI proposed several measures to enhance the growth and sustainability of MSMEs, which are the backbone of the Indian economy.

PHDCCI suggested extending the classification norms of MSMEs for Non-Performing Assets (NPAs) and the Restructuring Scheme for MSMEs, as approved by the Reserve Bank of India (RBI). Currently, dues for MSMEs are classified as overdue after 90 days, which can adversely affect their ability to access credit from banks

PHDCCI recommends extending this period to 180 days to allow MSMEs more time to manage their financial challenges without facing NPA classifications.

Another important proposal was to expand the scope of the Interest Equalization Scheme on Pre and Post-Shipment Export Credit. This scheme, which provides interest subvention for MSME manufacturers and merchant exporters, should also include MSME service exporters. This change would ensure that service exporters, who are an integral part of India’s economy, are also able to benefit from the government’s support.

PHDCCI recommended that the MSE Facilitation Councils, which currently cover only Micro and Small Enterprises, should also be extended to cover Medium Enterprises. This would help address the delayed payment issues faced by these enterprises, allowing them to settle dues within 45 days if no specific payment date is mentioned in the purchase order. This change would provide much-needed relief to MSMEs, which often face liquidity constraints due to delayed payments from large buyers.

On the taxation front, PHDCCI welcomed the reduction in corporate tax rates to 25% for most companies, including those with a surcharge. However, it was also suggested that the tax rates for Partnership Firms and LLPs be aligned at the same level of 25%. Moreover, to promote transparency and ease, PHDCCI called for fast-tracking the process for faceless appeals in the tax system. Introducing a statutory period for the resolution of tax appeals and allowing the option for physical hearings in exceptional cases would further streamline the process and reduce unnecessary delays.

Another significant issue raised by PHDCCI was the recent increase in long-term capital gains tax on listed shares from 10% to 12.5%. Since the long-term capital gains tax on shares is now on par with other assets, PHDCCI suggested that the Securities Transaction Tax (STT) be abolished. This move would reduce the tax burden on investors and encourage more investment in the stock market, thereby stimulating economic growth.

Lastly, Shri Jain commended the government’s focus on infrastructure development in recent years. However, he emphasized the need for more focus on Tier 2 and Tier 3 cities, as well as the development of smart villages with adequate public utilities. Expanding infrastructure development beyond major urban centres would help create balanced regional growth, improve the quality of life, and encourage more business activity in smaller cities and rural areas.

PHDCCI suggested special policy initiatives aimed at increasing female participation in the workforce. India’s female labour force participation rate currently stands at just 32%, the lowest among the world’s top 10 economies. To ensure inclusive growth, PHDCCI called for targeted measures to boost the participation of women in the labour market, thereby enhancing overall economic productivity.

The delegation, comprising Mr Hemant Jain, President; Mr. Mukul Bagla, Chairman, Direct Tax Committee; Dr Ranjeet Mehta, CEO & Secretary General; Dr S P Sharma, Chief Economist | Deputy Secretary General presented the Pre Budget Memorandum to the Ministry of Finance, Government of India.

Conquering G2G 2024: A ride to remember from India Gate to Gateway of India

G2G 2024, a ~1450km cycling expedition between two Indian Unesco world heritage sites starting from India Gate, Delhi to the Gateway of India, Mumbai, pushed Aneesh Saraiya, who works for a top management consulting firm, to their physical and mental limits. This demanding journey, traversing four states – Delhi, Rajasthan, Gujarat, and Maharashtra, presented a unique set of challenges, from scorching heat to unpredictable weather and varying road and traffic conditions.

Balancing the demanding workload from his consultant job with the grueling training schedule was a constant struggle. However, Aneesh skillfully navigated this challenge, demonstrating remarkable discipline and prioritizing his passion mainly due to his strong support system from his family and circle of friends.

Among the riders, Aneesh emerged as the fastest to complete the grueling journey. While G2G is not a race, Aneesh achieved the quickest finishing time of ~56 hours in the last eight editions of the event, showcasing exceptional endurance and determination.

Registered for the event in March, and embarked on rigorous training regimes. Aneesh dedicated over 300 days of trato rigorous cycling, covering an impressive distance of 27,500 kilometers each. This unwavering commitment was fueled by a shared passion for cycling and a desire to push their boundaries.

Group rides over weekends provided invaluable camaraderie, fostering a strong sense of community and encouraging them to persevere through difficult moments. The support and encouragement from family and friends played a crucial role in keeping Aneesh motivated and focused on his goal.

Despite facing numerous obstacles, the riders successfully completed G2G 2024. Aneesh’s exceptional performance, achieved while balancing the demands of a demanding career, serves as an inspiration to all those who strive to pursue their passions while navigating the complexities of modern life. This achievement underscores the power of human resilience and the ability to overcome even the most daunting challenges through consistent effort, unwavering passion, and a strong support system.

Kaushal Mehta of Walplast Honored with Rashtriya Udyog Ratan Award

30th December 2024: Mr. Kaushal Mehta, Managing Director of Walplast Products Pvt. Ltd., has been recognized with the esteemed Rashtriya Udyog Ratan Award by the All India Business Development Association (AIBDA). The award celebrates his notable contributions to the construction materials industry and his consistent efforts to drive industrial innovation thereby contributing to national growth and development. It was presented during a seminar titled “Individual Contribution for Economic & Social Development” held at the Speaker Hall, Constitution Club of India, New Delhi.

Reflecting on the honor, Kaushal Mehta shared, “This award is not just a recognition of my personal efforts but also a celebration of the journey Walplast has undertaken as a company. Every milestone we have achieved is a result of the dedication, innovation, and hard work of our entire team. Building materials might seem like an ordinary part of everyday life, but for us, it represents an opportunity to simplify lives, make homes more comfortable, and contribute to the nation’s development. This honour inspires me to continue pushing boundaries, invest in research, and create sustainable solutions that benefit not only our customers but also the larger community. I dedicate this recognition to everyone who has been a part of this journey, and I look forward to many more achievements together.”

Under Mr. Mehta’s leadership, Walplast has grown into one of the leading names in the building and construction materials industry. With a product portfolio that includes the Homesure range of wall putties, tile adhesives, construction chemicals, textures, gypsum products and paints, the company has set benchmarks for quality, sustainability, and innovation.

Guided by his direction, the company has grown to become the third-largest manufacturer of wall putty in India, exporting its products to over 23 countries worldwide. Walplast’s commitment to eco-friendly manufacturing and its impactful CSR initiatives, particularly those aimed at empowering underprivileged girls through education, demonstrate its dedication to societal and environmental well-being.
Looking ahead, Mr. Mehta has set a clear vision for Walplast, aiming for a turnover of ₹2,000 crore by 2025. His inspiring leadership continues to drive the company toward greater milestones of excellence.

The event was attended by cabinet ministers, governors, ambassadors, and other national leaders, highlighting the importance of both individual and organizational contributions to economic growth and social development.

The seminar was graced by prominent figures, including the chief guest Shri Harish Rawat (Former Chief Minister of Uttarakhand & Ex-Cabinet Minister of Govt of India), Prof. K.S. Rana (Vice Chancellor, High Commissioner Oman & Trade Commissioner Gulf Councils, Advisor of Ministry of Commerce & Industry), Ambassador Dr. V.B. Soni, Mr. Haripal Rawat (Joint Secretary All India Congress Committee Assam), Mr. P.C. Nailwal (PRO of Chief Minister of Uttarakhand), and Dr. R.D. Patidar (Vice Chairman, O.P. Jindal University). Their presence underscored the importance of collaboration between individuals, organizations, and government in fostering national economic development.

Entrepreneurs with Disabilities: Driving India’s GDP Growth

New Delhi: Shattering stereotypes and redefining perceptions, persons with disabilities in India are stepping into the spotlight as empowered entrepreneurs, building businesses worth crores and creating thousands of jobs. Once seen through the lens of dependency, these individuals are now celebrated as contributors to the nation’s GDP. And the driving force behind this transformative movement? The dynamic DHAN Network – Divyangjan Hunar Atmanirbhar Network, a groundbreaking business network exclusively for persons with disabilities.

In just four years, the DHAN Network has united over 1,200 entrepreneurs across 10 Indian states, empowering them to achieve an annual turnover of ₹100 crore while generating employment for more than 2,500 individuals. Remarkably, 33% of these entrepreneurs are women, showcasing the network’s commitment to inclusivity.

This movement is spearheaded by the Inclusive Divyangjan Entrepreneur Association (IDEA) , a social enterprise dedicated to fostering self-reliance among persons with disabilities. IDEA provides training, mentorship, market access, and financial support, creating a robust ecosystem where these entrepreneurs thrive.

A Visionary Mission for Inclusion and Economic Growth

IDEA’s Founder and CEO, Mr. Mallikarjuna Iytha, shares, “Through the DHAN Network, we are building a community of entrepreneurs who are not just creating wealth but also changing societal perceptions. We want the world to see persons with disabilities as contributors to economic growth, not as dependents.” His visionary efforts were recently recognized with the prestigious National Award 2024, conferred by the President of India for exemplary work in empowering persons with disabilities.

Celebrating Success at the Divya Kala Mela

IDEA recently showcased its impact at the Divya Kala Mela near India Gate, where over 20 entrepreneurs from the DHAN Network set up stalls and collectively generated 20 lakhs in revenue. The event also marked the launch of the Delhi Chapter of the DHAN Network, inaugurated by renowned hairstylist Javed Habib, and the commencement of the Swavlamban Yatra to inspire economic independence among persons with disabilities. On the final day, IDEA provided seed grants of ₹25,000 each to 46 budding entrepreneurs, helping them kickstart their ventures after completing a five-day entrepreneurial training program.

IDEA has set an ambitious goal for the coming years: training 5,000 entrepreneurs, achieving a collective business turnover of ₹1,500 crore, and creating 10,000 jobs. Through its work, IDEA is not only transforming lives but also paving the way for India to become a global leader in inclusive economic development.

As India strides toward a more inclusive future, initiatives like IDEA and the DHAN Network stand as powerful testaments to the potential of entrepreneurship to drive social change and economic growth.

Begin Margazhi Mornings with Olimayamana Ethirkaalam at 7 AM

30th December: Zee Tamil, one of the leading GECs in Tamil Nadu, continues to excel in entertaining its audience with innovative content. This Margazhi season, the channel is all set to take entertainment to the next level by celebrating the season of Margazhi, cherished for its rich musical traditions and Carnatic music concerts. From December 23rd, 2024, to January 12th, 2025, Olimayamana Ethirkaalam, Zee Tamil’s iconic morning astrology and daily prediction show that airs at 7 AM, will feature Margazhi’s special songs. This initiative adds a divine musical touch to the beloved morning ritual, making it a truly special experience for viewers.

In Tamil tradition, Margazhi is a significant month when families start their day early, decorate their homes with beautiful kolams, visit temples, and listen to bhajans. Olimayamana Ethirkaalam has become a morning staple for many households in Tamil Nadu. The show recently touched the milestone of 5,000 episodes and it is a testament to the show’s popularity and its loyal audience base, who tune in daily for a positive start to their day. Presented by the renowned astrologer Harikeshanallur Venkat Raman, the show is loved for its energetic and relatable way of delivering predictions, which keeps the audience engaged and uplifted every morning.

Now, there’s a special treat for viewers of this Margazhi and they can enjoy divine music performed by celebrated singers from Zee Tamil’s Sa Re Ga Ma Pa. These talented singers are ready to enthrall audiences with soulful performances, making Olimayamana Ethirkaalam a feast for the soul and a must-watch with your family and loved ones.

This Margazhi month, start your mornings with music and positivity only on Zee Tamil!

Aster RV Hospital Aids Stroke Patient’s Recovery After Crisis

Bengaluru: Aster RV Hospital proudly highlights the inspiring recovery journey of a 63-year-old international stroke patient who overcame significant hurdles, including treatment abroad, a challenging long-distance flight, and rigorous rehabilitation, to regain his independence and health.

The patient suffered a stroke while on an international trip and was immediately rushed to a hospital in Zurich, Switzerland, where he received timely treatment within the golden hour. Despite the swift medical intervention, the stroke left him partially paralyzed on the right side and with vision difficulties (parallax). During his recovery in Switzerland, he was administered medications and initiated physiotherapy in the ICU. Following the mandatory 14-day no-travel period for stroke patients, he was cleared to fly back to India under the specialized care of Emirates airline staff.

Upon landing, the patient was transported directly from the airport to Aster RV Hospital in Bengaluru via the hospital’s dedicated ambulance service. Here, the patient’s comprehensive treatment journey continued with an individualized rehabilitation plan involving speech therapy and physiotherapy.

Speaking about the case, Dr. Sreekantha Swamy, Lead Senior Consultant – Neurology, at Aster RV Hospital, said:

“The patient arrived in a stable but delicate condition. His paralysis and speech impairment required immediate intervention and a multidisciplinary approach. With consistent therapy and medication, he has shown remarkable improvement in both mobility and speech. His commitment to the process has been commendable.”

Dr. Loganathan Venkatachalam, Consultant – Physical Medicine & Rehabilitation, Aster RV Hospital added:

“When he came to us, his right-side mobility was severely limited, and he faced significant challenges in performing daily activities. The Patient’s comprehensive treatment journey continued with an individualized rehabilitation plan involving rehabilitation nursing, Occopational Therapy, Speech Therapy and Physiotherapy. Over the last 1.5 months, his progress has been extraordinary. His leg and hand strength have improved significantly, and his overall physical condition continues to advance with each session.”

The patient expressed his gratitude, stating:

“I am immensely thankful to Aster RV Hospital for the exceptional care I received. From the moment I landed in Bengaluru, the hospital staff ensured my comfort and well-being. The doctors, therapists, and entire team treated me with compassion and professionalism, giving me hope and strength to recover. I am now able to speak more clearly and regain control of my movements, which is nothing short of a miracle.”

This remarkable case underscores Aster RV Hospital’s expertise and commitment to providing world-class neurological care and rehabilitation, even in the most challenging circumstances. The hospital’s multidisciplinary team remains dedicated to helping patients achieve their recovery goals, ensuring improved quality of life for every individual.

ICAI Bangalore SIRC Holds Two-Day CA Conference on GST & More

Bangalore, December: The Institute of Chartered Accountants of India (ICAI), in association with the Bangalore Branch of the Southern India Regional Council (SIRC), successfully organized a two-day CA Conference. The conference was held at Hotel Lalit Ashok, Kumara Krupa Road, Bangalore.

This CA Conference was organized under the leadership of the Chairman, Bangalore Branch of SIRC, and CA Kavitha Paramesh, Secretary, Bangalore Branch of SIRC. Inaugurated by CA Manjunath Hallur, CA CP Jain, and CA Bharath Rao.

Before the commencement of the technical sessions, tributes were paid to Sri Manmohan Singh, former Prime Minister of India, who had passed away yesterday. A visionary leader and renowned economist, Dr. Singh’s invaluable contributions to India’s economic reforms and governance were remembered and honored during this solemn moment.

The CA Conference focused on critical and contemporary topics shaping the profession and the business environment.

Participants gained insights into accounting and climate change by exploring the intersection of environmental sustainability and financial reporting. They also addressed issues related to charitable trusts, including regulatory and operational challenges. The discussions provided a new outlook on GST litigation in 2025, with a forward-looking perspective on Goods and Services Tax disputes and resolutions. Recent issues in capital gains were analyzed to understand evolving tax implications and compliance requirements. Additionally, the obligations and privileges of private limited companies were examined to highlight the scope and impact of non-compliance in financial statements and audit reports.

The CA Conference featured sessions by eminent Chartered Accountants, including CA Guruprasad M, CA M.P. Vijaykumar, CA Jatin Christopher, CA K. Gururaj Acharya, CA Bharath Rao, CA Gautam Pai (Ahmedabad), and CA Girish Ahuja. These distinguished speakers brought a wealth of knowledge and practical experience to the forum, ensuring enriching and insightful discussions for all participants.

The ICAI and Bangalore Branch of SIRC expressed their gratitude to all chartered accountants and financial professionals who participated in this premier CA Conference. It was an excellent opportunity to engage with industry experts, enhance professional knowledge, and network with peers.