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Uniting Global Experts to Drive Collaboration and Innovation in the Fight Against Cancer

Nov 11, 2024 by Sujata 0 Comments #Experts, #Global

Chennai, 11 November 2024: The 7th edition of the Apollo Cancer Conclave, organized by Apollo Cancer Centers ,Mumbai was attended by over 2,000 Oncologist with over 400 faculty from leading national and international cancer care experts and researchers. The event focused on discussing the latest advances and innovations in cancer care, navigating the evolving landscape from contemporary treatments to precision oncology.

Held from November 8th to 10th, the conclave provided a dynamic platform for healthcare professionals to engage in panel discussions, workshops, and research presentations. The key note and the sessions offered invaluable insights into both established and emerging cancer care treatments and management strategies.

With seven organ-specific scientific tracks, more than 100 sessions, and numerous interactive discussions, the Apollo Cancer Conclave has firmly established itself as the cornerstone event in oncology. It is now a key fixture on the healthcare calendar for oncology specialists dedicated to combating cancer more effectively and empathetically.

Dr. Elisabete Weiderpass, Director of the International Agency for Research on Cancer (IARC) at the World Health Organization, remarked, “IARC’s 2022 estimates show that the global cancer burden is projected to rise from 20 million new cases in 2022 to 35 million by 2050, primarily impacting low- and middle-income countries. In India, the cancer burden is expected to rise from 1.41 million new cases in 2022 to 2.69 million in 2050. With this alarming prediction, prevention has become the key response to the cancer epidemic. Initiatives like the Apollo Cancer Conclave 2024 offer an invaluable platform to raise awareness among local experts. At IARC, our vision is a world where fewer people develop cancer, and this requires proactive, evidence-based strategies in prevention and early detection. The Conclave has been a remarkable opportunity to share these strategies and strengthen our collective mission.”

Ms. Preetha Reddy, Executive Vice Chairperson of Apollo Hospitals Enterprise Ltd, stated, “Apollo Hospitals was founded with a vision to deliver healthcare of global standards. We continue that legacy by revolutionizing cancer care through new benchmarks, advanced technologies, and innovative treatments, ensuring better outcomes for a wider audience. With over 390 oncologists across 22 Apollo Cancer Centres, we deliver compassionate, patient-centric care, benchmarked against the best globally. The inauguration of the Apollo Cancer Conclave highlights our commitment to bringing the highest standards of healthcare to the people of India and the world.”

Mr. Dinesh Madhavan, President of Group Oncology & International at Apollo Hospitals Enterprise Ltd, said, “As we delve deeper into the evolving field of oncology, it’s critical to recognize the groundbreaking innovations emerging worldwide. Significant advancements in early cancer detection are on the horizon, and with our well-trained clinicians and cutting-edge technologies, we continue to reshape the oncology landscape. Today, cancer care means providing comprehensive, 360-degree support. By keeping pace with technological advancements in cancer management and treatment, Apollo Cancer Centres remains at the forefront of this transformative journey, serving 3.5 billion people across 147 countries.”

Dr. Anil D’cruz, Director of Oncology Services at Apollo Hospitals Navi Mumbai, commented, “The Apollo Cancer Conclave has become a highly anticipated event within the global oncology community, bringing together thought leaders, practitioners, and researchers dedicated to transforming cancer care. Our goal is to inspire, challenge, and collectively advance cancer treatment through knowledge-sharing and collaboration. This year’s focus on precision oncology underscores the shift toward more tailored, patient-centric approaches to cancer treatment, ultimately improving the quality of life for every patient battling cancer.”

The Conclave featured a wide range of sessions covering various areas of oncology, including breast, gynecology, gastrointestinal, head and neck, uro-oncology, and hematolymphoid cancers. With keynote addresses, interactive panels, and real-time case discussions, the event highlighted the transformative potential of technology and precision medicine in cancer care, emphasizing patient-centric innovations.

One of the Conclave’s major announcements was the introduction of Apollo’s new Breast Cancer Care guidelines, which are set to redefine how breast cancer is managed across India.

The Apollo Cancer Conclave 2024 set the stage for continued advancements in cancer care, establishing new benchmarks in precision oncology, robotics, AI-based patient care, and clinical collaboration. This year’s event exemplified Apollo’s commitment to pushing the boundaries of oncology and reinforced its role as a global leader in transforming cancer care.

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Budget Reaction 2024 by Experts

Jul 23, 2024 by Mansi 0 Comments #Anuraag Gambhir, #Budget Reaction 2024, #Experts, #Manish Chowdhury, #MSME, #PPP

With Budget 2024 now announced, the reactions from industry experts are coming in fast and furiously. This year’s fiscal plan has prompted a diverse set of responses from leading figures in the business and economic sectors. In this series of quotes, we capture their expert evaluations of the budget’s potential impacts, offering you a comprehensive view of how different industries are preparing for the changes and challenges of the upcoming year.

 Today’s budget introduces pivotal initiatives for the e-commerce sector, notably addressing the skills gap and enhancing MSME operations. The creation of E-Commerce Export Hubs through PPPs aligns seamlessly with ShopClues’ mission to expand global market access for MSMEs and traditional artisans.

 The focus on women-specific skilling programs and market access for women-led enterprises is commendable. Aligning course content with industry needs, particularly in e-commerce, will enhance digital literacy and technical proficiency among MSMEs. Collaborative efforts with local institutions and e-commerce platforms like ShopClues will drive these initiatives, promoting economic empowerment.

 Furthermore, reducing the TDS rate from 1% to 0.1% and removing the Equalisation Levy are significant reliefs for online sellers , fostering a favorable environment for online transactions and enhancing global competitiveness. Overall, the budget paves the way for a robust and inclusive digital economy. – Anuraag Gambhir, Managing Director, Shopclues

 The key highlight of the budget is the fine balance between fiscal prudence and welfare schemes, with a special focus on Bihar and Andhra Pradesh. With most pointers in line with the interim budget, the key takeaway is the downward revision to the FY25 fiscal deficit figure to 4.9% and an increase in capital gains tax. Though there is a tinge of populist measures on expected lines, the government remains focused on job creation, infrastructure development, strengthening the ecosystem for manufacturing, renewable energy and new sectors and creating disposable income in the hands of people with key focus on rural. Though we do not rule out some kneejerk reaction in equity markets, the long-term trajectory and the intention of the government looks pro-economy and adding wings to move the economy towards the USD 5 trillion mark in the near term.- Manish Chowdhury, Head of Research, StoxBox

 The introduction of the MSME credit guarantee scheme for collateral-free loans and the doubling of the MUDRA loan scheme to Rs 20 lakh marks a significant positive development. These measures will facilitate easier access to capital for the MSME sector, fostering favorable conditions ahead.
The allocation of Rs 10 lakh crore for the Prime Minister’s urban housing plan is commendable. Encouraging states to reduce stamp duties is a positive development for aspiring homeowners, as lower stamp duties will make homeownership more affordable and stimulate the housing market. In my view, these initiatives will also significantly boost the home loan industry as a beneficial side effect.

We also welcome the abolition of the 30% Angel Tax for all investor classes. This move will encourage more angel investors to support startups, fostering innovation and growth in the startup ecosystem. – Mr Manish Aggarwal, CEO & Founder, FINQY

 The Hon’ble Finance Minister along with officials of the Ministry of Finance, held a marathon and focussed Trade & Industry Pre-Budget Consultations. It is heartening to witness that many of the valid recommendations of Trade Bodies have seen light of day in this Union Budget, making this budget a reflection of a Budget For the People, By the People and of The People. The Full Union Budget 2024 lays down the roadmap of the next five years. Propelled by a robust Tax Revenue buoyancy of 1.4 during FY 23-24 the focus now is on job creation through GDP growth by putting in more disposable income in the hands of the common man. New Income Tax Scheme relaxations in standard deduction, slabs reduction and family pension deduction relaxation may help in savings of around Rs.35000 per taxpayer.

 As requested by the Trade & Industry bodies and laid down by the Economic Survey, for MSME businesses the compliance burden is also sought to be relaxed; litigations will be reduced in new VIVAAD SE VISHWAS SCHEME.

 TDS provisions have been relaxed substantially like relaxation of rectification timelines, penalties, reduction in TDS Rates u/s 194O for E Commerce operators.

 Big Corporations have been motivated to invest more in Plant, Machinery, Equipment in IPR and make in India by relaxations on import duties.

 To prevent drain of wealth from India where certain MNCs show less profit in India and more outside India, this budget has pushed for Global Minimum Tax of 15% and promoting safe Harbour Rules.

 The GST Amnesty Scheme for waiver of interest or penalty or both, relating to demands raised under Section 73, for FY 2017-18 to FY 2019-20;, and making the new time limit for availing ITC as per Section 16(4) of the CGST Act as 30/11/2021 to avail ITC pertaining to financial years 2017-18, 2018-19, 2019-20 and 2020-21; are an icing on the cake.- Vivek Jalan, Partner Tax Connect, A PAN India Multi disciplinary firm

 This is recognition of the growing need for a deeptech economy. However, alongside the R&D Fund, the government should look at the Intellectual Property regime. The much overdue Patent Policy needs to come out soonest to enable maximisation of R&D Fund. -Bhaskar Majumdar, Managing Partner, Unicorn India Ventures

 The 1000 Cr fund of funds for space tech is testimonial to India’s capability in coming up with breakthrough solutions at low cost. This will certainly help space tech companies to look for much needed early stage capital to get started. This will certainly help mobilise over Rs 4000 Cr, great move. Angel Tax abolishment was long pending, glad that Hon. FM has heard industry voices and has finally abolished it. This will certainly help in expansion of angel investment in India and will take away a lot of burden from the minds of everyone on tax notice for tax paid investment. This will also free up a lot of domestic capital and improve the funding sentiment in a strong way. – Anil Joshi, Managing Partner, Unicorn India Ventures

 This was an albatross that hindered much needed capital to be deployed to deserving founders. Removal of this dreaded tax will give a huge fillip to startups in the country and free up investors to focus on the investments without having anxiety on how to deal with their implications. A few other things that work well for deep tech focused funds like us. The rooftop solar policy, the pumped storage policy and research and development for small & modular nuclear reactors, Bharat small reactors, R&D for small modular reactors, R&D for new technology in nuclear form a neat troika to alter the energy map of India. Specially on the nuclear side, it positions India to replicate the renaissance that nuclear is experiencing in the US. – Mayuresh Raut, Managing Partner, Seafund

 The removal of the angel tax will make it significantly easier for us to complete transactions faster and streamline the investment process. Previously, the requirement for income tax officers to understand and assess valuations led to unnecessary conflicts and delays, involving CAs, valuers, and tax officials. Valuation assessments were never meant to fall within the purview of income tax officers, and this change eliminates those complications. This simplification allows us to focus on our primary job—investing in and supporting innovative startups—without the burden of navigating through cumbersome tax regulations.

As a venture capital fund, we see the Indian Budget 2024’s tax reforms as a major boost for the VC, PE, and startup ecosystem. The increase in LTCG tax rate for financial assets to 12.50% and STCG to 20% may pose challenges for listed investments. Still, it’s a significant advantage for other financial products like startups and Alternative Investment Funds. The reduction in LTCG tax from 20% to 12.50% for these investments will result in substantial savings and increased IRR, fostering growth and innovation. While we await the detailed budget, this move is a long-awaited positive development that will make India an even more attractive destination for global investors and drive further growth in the venture capital and private equity sectors. – Anirudh A Damani -Managing Partner – Artha Venture Fund

 “Abolition of angel tax will provide a boost to the budding Indian startup ecosystem. It will encourage the flow of capital without tax leakages, especially relevant at a time when the funding crunch is impacting startup liquidity. It is key to establish India as an innovation hub and leader vs follower for new and breakthrough ideas. Focus of the budget is on sustainable growth with employment generation, of continuity and stability. The changes on the capital gains tax structure was unexpected, especially during a time when the fiscal position of the economy seems to be in check.

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Experts Outline Key Priorities and Expectations Ahead of the 2024 Budget

Jul 23, 2024 by Mansi 0 Comments #2024 Budget, #Anand Kumar Bajaj, #economic growthDhriti Prasanna Mahanta, #Experts, #Key Priorities, #Pushkar Mukewar, #Sundeep Mohindru

23 July 2024: Experts from a range of industries are sharing their goals and expectations for the forthcoming fiscal plan as the 2024 budget season gets closer. Policies that combat inflation and promote economic expansion, such as prospective tax changes and higher public investment in infrastructure, are especially desired by economists and financial experts. To narrow the growing socioeconomic gaps, proponents of social policy are arguing for increased education spending, improved social safety nets, and increased financing for healthcare. Environmentalists pressure the government to commit more funds to climate resilience and renewable energy projects. Everyone calls for a well-rounded strategy that promotes social justice and long-term economic stability while guaranteeing fiscal discipline.

Sundeep Mohindru, Promoter & Director, M1xchange,

“In the upcoming budget, we expect the government to focus on strengthening MSMEs which can lead India towards $7 trillion economic goal. However, their growth is hindered by limited access to bank credit, leaving a $2.5 trillion financing gap. Incentives for MSME registrations on Udyam, fiscal support for banks and NBFCs to prioritize MSME working capital loans, and reduced compliance burdens and borrowing costs will eventually boost their contribution. Most of MSMEs aren’t traditionally credit-ready, and banks lack infrastructure to reach them. Therefore, stronger digital methods of credit assessment can bridge the credit gap. This, in turn, would enable MSMEs to access the finance needed for their working capital requirements. This ensures MSMEs are credit-ready, thereby making risk assessment easier for financial institutions.

India’s preliminary interest in adopting the new legal framework under MLETR which brings Digital Negotiable Instruments (DNIs) into reality, along with fintech partnerships has the potential to achieve digital financial inclusion for MSMEs.

Additionally, boosting exports to achieve $1 trillion in merchandise exports by 2030 is vital. The policy support towards MSMEs like those implemented by successful Asian economies such as Taiwan and South Korea are necessary to enhance their global competitiveness.

The budget should support insurers adopting TReDS quickly, activate the Credit Guarantee Fund Scheme for Factoring (CGFSF), and create a buyer-less ‘second window’ for supplier financing. We also expect measures to protect MSMEs from cybersecurity threats, economic shocks, and supply chain disruptions with a robust government and private sector collaboration.

We support establishment of Self-Regulatory Organizations (SROs) for the fintech sector is essential to set industry standards and encourage ethical practices. Stronger emphasis on adopting digital credit assessment methods is necessary to address the credit gap for MSMEs”.

Pushkar Mukewar, CEO and Co Founder, Drip Capital

“The upcoming budget can support MSMEs through strategic incentives when it comes to emerging technology adoption. We are at the cusp of reaching the ambitious target of USD 2 trillion in exports by 2030. This can’t happen without advancement in digital capabilities and digital public infrastructure. These innovations are needed for productivity, efficiency, and global competitiveness to seize the industry 5.0 prospects. Ambitious government initiatives such as the Trade Connect e-Platform can play a huge role in connecting exporters, MSMEs with the global trade ecosystem.

The significant financing gap of $2.5 trillion calls for innovative solutions to mitigate risks and reduce interest rates through robust credit guarantees. There must be tailor-made financing solutions for startups and MSMEs. Also, alternative financing options such as crowdfunding, invoice discounting, and supply chain financing can provide the much-needed capital. In fact, quick access to finance is imperative for MSMEs to overcome challenges such as delayed payments that impact their liquidity and competitive edge.

Increased government support is essential in accelerated funding for credit schemes, simplification of regulatory frameworks, and initiatives aimed at enhancing the ease of doing business”.

Anand Kumar Bajaj, Founder, MD & CEO, PayNearby

“As we anticipate the Union Budget, the focus on Bharat, India’s rural heartland, takes centre stage. The journey towards a $5 trillion economy hinges on the transformation of these rural areas, driven by groundbreaking financial and digital solutions provided by leading fintech players. A robust tech stack riding on the back of a strong distribution network has opened doors for Bharat to access innovative financial and digital services. Our commitment to making banking, credit, assurance (insurance + asset), and e-commerce services accessible to Bharat is exemplified by the unique infrastructure we have built. However, for these services to reach citizens at the last mile, technology, security, trust, and Government support are crucial.

Towards this purpose, in the Budget 2024, we urge consideration of

 1. Tax benefits on total expenditure for fintechs involved in the financial empowerment mission. In light of this, we propose specific measures, including a special 5% GST rate for startups working for last-mile empowerment, facilitating crucial financial and digital services to the citizens. A GST subsidy, even a modest one, would significantly ease the reach of financial services and government benefits, encouraging innovation in the financial empowerment space.

2. We also urge for a waiver of GST on all financial services made available from BC outlets, an Income Tax relief for the next seven years, and reduced import duty on essential financial services devices.

With the majority of PayNearby’s BC network operating in tier II and beyond regions, serving as banking hubs in areas with limited financial infrastructure, this would ensure sustainable growth and motivate more last-mile retail banking agents to offer seamless services everyone, everywhere.”

Dhriti Prasanna Mahanta, Vice President & Business Head, TeamLease Degree Apprenticeship.

With the 2024-25 budget just around the corner, the Modi government is poised to further strengthen the foundation for Viksit Bharat by ensuring policy continuity that promotes ease of business, strengthens infrastructure development, and prioritizes job creation and skill development across sectors. This vision hinges on further bolstering infrastructure, with a particular emphasis on last-mile connectivity in critical sectors such as transport and logistics. Building upon the foundation established in previous budgets, the government is anticipated to make substantial investments in digital infrastructure, driving the nation towards a $5 trillion economy. A critical focus must be on supporting small and medium-sized enterprises (MSMEs), by enhancing the access to finance and cutting-edge technologies, equipping them to compete globally and fostering innovation and entrepreneurship. Furthermore, investments in multi-modal connectivity, advanced air terminals, and infrastructure developments are also crucial to support seamless trade and economic growth, aligning with the Prime Minister’s Gati Shakti Plan and the National Logistics Policy.

The true engine of India’s growth, however, lies in its people and by strategically integrating AI into industries like logistics and manufacturing, India can achieve a quantum leap, surpassing traditional development stages. Yet, AI is a double-edged sword. While it automates tasks and boosts efficiency, it also has the potential to exacerbate skill gaps. This is where the government’s conscientious approach becomes crucial. Investing heavily in apprenticeship programs and digital skilling initiatives will bridge this gap and empower the workforce to harness the power of AI. Direct Benefit Transfers (DBT) for apprenticeships can further incentivize skill development, ensuring that trainees receive financial support directly, making these programs more attractive and accessible. The tourism and aviation sectors are poised for significant growth, with the interim budget of February 2024 laying a positive foundation through increased allocations for tourism infrastructure, aimed at boosting domestic tourism and creating new job opportunities. The aviation sector’s doubling of airports and the success of the UDAN scheme have further solidified this foundation. The new budget is expected to build on these achievements, fostering continued progress and positioning India as a premier global destination.Furthermore, investing in digital public infrastructure and fostering a conscientious approach to skilling and apprenticeships will enable India to partake in a future-ready economy, creating a skilled workforce capable of driving sustained economic growth.