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India@70 As India enters the 70th year of Independence, we present you some stories which will reflect India’s growth and transformation in all these years.

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Digitally published by: Consulate General of India Melbourne


Contents: Page no.

Title

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Make in India

6.

Here’s what you need to know about the Digital

Page no. 19.

Title GST plus digital will make economy cleaner, bigger: Arun Jaitley

MyGov

21.

An Engine of Growth

Skill India with the mission of

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India’s Gold Challenge

National Skill Development

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Of Coins, Currency and

India initiative 8. 10.

Smart cities ping the most on

14.

ISRO-Is sky the Limit ?

15.

Space Odyssey

18.

Yoga is Medicine for Our Times

Demonetisation 29.

Startup India, a right idea at the right time

31.

The Rise of the services sector is redefining India's growth narrative

33.

Striking the perfect balance

34.

A brief history of India’s foreign policy

Digitally published by: Consulate General of India Melbourne


MAKE IN INDIA

WHAT HAS BEEN THE JOURNEY FOR MAKE IN INDIA? Here are some of the key milestones: September 2014 The Department of Industrial Policies and Promotion (DIPP) of the Ministry of Commerce and Industry took up a series of measures to improve the Ease of Doing Business to simplify some of the existing rules. January 2015 Spice Group announced an investment of US$ 75.16 million to set up a manufacturing unit for budget smartphones in Uttar Pradesh. February 2015 Chinese technology company Huawei made a huge investment of US$ 170 million to set up a new Research and Development (R&D) campus in Bengaluru. The campus, sprawled across an area of 20 acres, can accommodate 5,000 engineers. March 2015 Magneti Marelli, Fiat’s component manufacturing arm, started operations for manufacturing of Electronic Fuel Injection (EFI) in a joint venture with leading two-wheeler maker Hero MotoCorp in Manesar. May 2015 Hyundai Heavy Industries partnered with Hindustan Shipyard Limited, Visakhapatnam to help build naval ships in India, this collaboration would help India's shipbuilding industry to leap forward tremendously. Daimler India Commercial Vehicles Pvt. Ltd. (DICV), a 100% wholly owned subsidiary of Daimler AG, Stuttgart, Germany, announced the inauguration of its new bus manufacturing facility in Oragadam, Tamil Nadu and unveiled its second wave of products – BharatBenz and Mercedes-Benz buses as well as a new range of new BharatBenz high-power engine trucks and BharatBenz heavy-duty tractors. India moved 13 positions ahead from 65th to 52nd rank in Tourism and Travel Competitive Index as per the World Economic Forum (Davos) Report. June 2015 French aircraft manufacturing company LH Aviation signed a Memorandum of Understanding (MoU) with Indian OIS Advanced Technologies (OIS-AT) for manufacturing of tactical drones in India.

A major national initiative designed to facilitate Investment, foster Innovation, enhance Skill Development, protect Intellectual Property and build best-inclass Manufacturing Infrastructure. There has been a better time to make in India India rose to 1st position in the Baseline Profitability Index in 2015. India was ranked at the 6th position in Baseline profitability index in 2014. July 2015 In the Global Startup Ecosystem Rankings 2015 Bengaluru moved to #15 in 2015 from #19 in 2012 (this was driven by the second highest growth rate in exit volumes and VC investment among the Top 20). Mercedes Benz India inaugurated its second manufacturing facility in Chakan , which shall double the plant capacity to 20,000 units per annum. The total investment in the manufacturing facility now stands over US$ 148 million since inception. August 2015 Taiwan’s Foxconn, the world’s largest contract electronics manufacturer and a key supplier to Apple Inc., signed a pact with Maharashtra to invest US$ 5 billion over five years in a semiconductor manufacturing facility. The electronics manufacturing sector received a further boost, with Lenovo and Motorola announcing their plans to manufacture smartphones in India in a 40,000 square feet factory in Sriperumbudur near Chennai. The facility currently can create 6 million smartphone units per year. Xiaomi launched local manufacturing in Visakhapatnam in August 2015 under the Make in India program. The plant exclusively assembles Xiaomi phones and is Xiaomi's second manufacturing unit outside China. September 2015 “Make in India Mittelstand initiative” was launched in partnership with Indian embassy in Berlin, Germany for providing Market Entry Support Services like strategic consulting, tax & legal support, project financing, technology collaboration and facilitation of approvals to German Mittelstand organizations.

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Japanese electronics giant Sony got on to the ‘Make in India’ bandwagon. After nearly a decade, the company is getting back to manufacturing in India, with plans confirmed for two models of its television brand Bravia. World’s largest internet based retailer Amazon opened a warehouse in Pune in September 2015 taking the total count to over 21 with a cumulative storage capacity of over 5 million cubic feet. October 2015 India moved up 12 places and reached 130th position in "Ease of Doing Business 2016" report, (World Bank). India moved up one position to become the world's seventh most valued 'nation brand', with an increase of 32 per cent in its brand value to $2.1 billion in 2015. It was the 8th most valued nation in the world in 2014 and ranked 9th in 2013. November 2015 India attracted over US$ 18 billion worth of investments since September 2014 from companies viewing the country as a potential electronics manufacturing powerhouse. Some of the major ones including Samsung, Bosch, Phillips, LG and Flextronics have shown a keen interest in creating their manufacturing bases here. International Tractors Ltd. (Sonalika) invested US$ 75 million for setting up its new Hoshiarpur plant in Punjab with the capacity to manufacture 0.2 million tractors per annum. The plant would contain a single production line for all variants and models and an engine assembly line for 500 engines/day.

December 2015 General Electric Transport and Alstom won contracts worth a combined US$ 5.6 billion to supply India’s railways with new locomotives. These foreign companies will help improve the vast but old state-owned network. Following Japanese PM Shinzo Abe’s visit to India, Japan announced setting up a US$ 12 billion fund for ‘Make in India’ related projects. This investment will be in the name of ‘Japan-India Make in India Special Finance Facility’ that will also strengthen the relationship between the countries. February 2015 The multi-sectoral Make in India Week (MIIW), a mega event held in Mumbai, was a platform to showcase nation's focus towards design, innovation and sustainability. MIIW was a resounding success which was attended by over 0.9 million visitors from 102 countries and over 8000 B2B/B2G/G2G meetings was conducted over the course of the week. March 2016 India achieved its highest ever FDI inflow for a financial year in 2015-16 at US$ 55.5 billion Japanese technology giant Hitachi announced its plans to roll out ATMs in India - one of Asia's largest ATM markets - with the investment capital of US$ 15 million. April 2016 US chipmaker Qualcomm plans to establish an innovation lab in Bangalore to provide technical and engineering assistance to the selected companies.

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It has launched ‘Design in India’ initiative with the aim to mentor up to 10 Indian hardware companies who have the potential to come up with innovative solutions. India moved up to sixth position amongst the world’s leading manufacturers. India has jumped by three positions from ninth position in the previous report. The growth rate of Manufacturing Value Added (MVA) of India was 5.5 % in 2014 and 7.6 % in 2015. May 2016 India’s Gross Domestic Product (GDP) growth rate for quarter January-March stood at 7.9 per cent as against 7.3% in October – December, thereby making it the fastest growing major economy in the world. June 2016 In a sweeping overhaul of FDI norms, the government radically liberalised key sectors like defence manufacturing, civil aviation, pharmaceutical and food processing, making India as one of the ‘most open economy’ in the world. India jumped 13 positions and was placed second in retail potential in the 2016 Global Retail Development Index (GRDI). India was rated 15 in the 2015 Global Retail Development Index.

The World Bank’s annual Doing Business 2017 report placed India in 130th position, recognizing India’s achievements in implementing reforms in four of its ten indicators – Trading across Borders, Getting Electricity, Enforcing Contracts and Paying Taxes. Additionally, India’s Distance to Frontier score improved on 6 out of the 10 indicators, showing that India is increasingly progressing towards best practice.

July 2016 Actual work on the ground has started on 25% of investments commitments signed during the Make in India week. August 2016 India jumped 15 spots to reach 66th position in Global Innovation Index 2016. India was ranked 81 in 2015. India improved its performance on Logistics Performance Index by 19 positions when compared with its ranking in 2014. India’s ranking has jumped from 54 in 2014 to 35 in 2016. September 2016 India jumped 16 places to the 39th rank in 2016 from last year’s 55th position in the Global Competitiveness Index, highest jump of any country for this year. In 2014 India was in 71st position as per GCI 2014. India has thus jumped 32 positions in two years. October 2016 Schneider Electric is preparing to make India its export hub on the back of government’s policies such as Make in India, Digital India and Smart City Mission. Schneider Electric have 28 factories, R&D centres and further plans to invest around US$ 110 million in the coming five years and will keep investing in skill development. Source: www.makeinindia.com

THE FUTURE Make in India has now become a calling card for investors to come and invest in the Indian growth story. To further the Indian manufacturing capabilities, the government is focusing on the development of sectors that are going to be the key focus in the coming years. By introduction of new reforms in policies along with a positive economic atmosphere, it has created a fertile ground for businesses to thrive in India.

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Here's what you need to know about the Digital India initiative What is Digital India? The Digital India initiative seeks to lay emphasis on egovernance and transform India into a digitally empowered society. The program is projected at Rs 1,13,000 crore which will prepare the country for knowledge-based transformation. The Department of Electronics and Information Technology (deitY) anticipates that this program will have a huge impact on the Ministry of Communication and IT. It is to ensure that government services are available to citizens electronically. It will focus on providing high speed internet services to its citizens and make services available in real time for both online and mobile platform. Digital India also aims to transform ease of doing business in the country. Modi's government is focussing on providing broadband services in all villages of the country, tele-medicine and mobile healthcare services and making the governance more participative. Vision of Digital India initiative: Here is what the government of India aims to achieve through Digital India initiative. 1. Infrastructure: The Digital India initiative has a vision to provide high speed internet services to its citizens in all gram panchayats. Bank accounts will be given priority at individual level. People will be provided with safe and secure cyber space in the country.

2. Governance and services: Government services will be available online where citizens will be ensured easy access to it. Transactions will be made easy through electronic medium. 3. Digital empowerment of citizens: This is one of the most important factor of the Digital India initiative to provide universal digital literacy and make digital sources easily accessible. The services are also provided in Indian languages for active participation. 9 major projects under the initiative: 1. Manufacturing of electronics: The government is focusing on zero imports of electronics. In order to achieve this, the government aims to put up smart energy meters, micro ATMs, mobile, consumer and medical electronics. 2. Provide public access to internet: The government aims to provide internet services to 2.5 lakh villages which comprises of one in every panchayat by March 2017 and 1.5 lakh post offices in the next two years. These post offices will become Multi-Service centres for the people. 3. Highways to have broadband services: Government aims to lay national optical fibre network in all 2.5 lakh gram panchayats. Broadband for the rural will be laid by December 2016 and broadband for all urban will mandate communication infrastructure in new urban development and buildings. By March 2017, the government aims to provide nationwide information infrastructure. 4. Easy access to mobile connectivity: The government is taking steps to ensure that by 2018 all villages are covered through mobile connectivity.

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The aim is to increase network penetration and cover gaps in all 44,000 villages. 5. e-Governance: The government aims to improve processes and delivery of services through e-Governance with UIDAI, payment gateway, EDI and mobile platforms. School certificates, voter ID cards will be provided online. This aims for a faster examination of data. 6. IT Training for Jobs: The government aims to train around 1 crore students from small towns and villages for IT sector by 2020. Setting up of BPO sectors in North eastern states is also part of the agenda. 7. e-Kranti: This service aims to deliver electronic services to people which deals with health, education, farmers, justice, security and financial inclusion. 8. Global Information: Hosting data online and engaging social media platforms for governance is the aim of the government. Information is also easily available for the citizens. MyGov.in is a website launched by the government for a 2way communication between citizens and the government. People can send in their suggestions and comment on various issues raised by the government, like net neutrality. 9. Early harvest programs: Government plans to set up WiFi facilities in all universities across the country. Email will be made the primary mode of communication. Aadhar Enabled Biometric Attendance System will be deployed in all central government offices where recording of attendance will be made online. Response to the Digital India initiative from global investors: Global investors like Sundar Pichai, Satya Nadella, Elon Musk have supported Modi's Digital India initiative. Microsoft CEO, Satya Nadella intends to become India's partner in the Digital India program. He said that his company will set up low cost broadband technology services to 5 lakh villages across the country. Sundar Pichai, CEO, Google said that India will play a big part in driving technology forward in future which will improve people's lives in India. Prime Minister Narendra Modi showed keen interest and wanted to use Tesla Motors' power wall technology which will store electricity in a battery for a long term.

Launched by Prime Minister Narendra Modi on July 1, 2015, the Digital India initiative was started with a view to empower the people of the country digitally. The initiative also aims to bridge India's digital segment and bring big investments in the technology sector.

More initiatives of similar kind can be read at: http://www.digitalindia.gov.in/hi/media-gallery/newsarticle to know all Digital India initiatives Source: www.dnaindia.com

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Smart Cities ping the most on MyGov In its two years of existence, the campaigns promoted by the government that have fared well on the platform Forty-five per cent of all discussion posts on the MyGov platform — a social network built around governance issues — were about Smart Cities. The platform, launched by Prime Minister Narendra Modi in July 2014, functions under the aegis of the Union Communications and Information Technology

Ministry. At present, MyGov has around 35 lakh registered users. In the two years of its existence, there have been 582 discussions posts on the platform, garnering around 34 lakh comments. However, the activity and engagement on posts is not uniformly distributed. Of the 582 posts on the MyGov website, 32 posts account for 72 per cent of all comments on the platform. Half the posts got fewer than 500 comments. In fact, 30 per cent of the posts have fewer than 100. There are three major elements in getting traction on the platform, Gaurav Dwivedi, CEO of MyGov, told The Hindu. First, promotion of the said campaign by the Ministry concerned. Second, the attractiveness of the subject to the citizen. Third, the willingness of citizens to devote time to the campaign and share their thoughts and ideas. For instance, only 10 posts got more than a lakh comments, all asking for suggestions from citizens for drafting the ‘Smart City proposal’ for their cities. Posts on Bhopal, Kanpur, Allahabad, Indore and Jhansi gathered more than 1.5 lakh suggestions as comments. “For the 98 shortlisted smart cities, there was a

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component of citizen feedback and engagement in the selection criteria for the next round. Plus, there were marks for quality of citizen engagement,” Mr. Dwivedi said. In places where municipal commissioners were more tech savvy, more traffic and engagement was observed, he added. Forty-eight posts on MyGov platform were setup to identify 50 public buildings (in each city) that were frequently used by persons with disabilities and should be converted into fully accessible buildings. But this crowdsourcing campaign, launched by the Department of Empowerment of Persons with Disabilities, received a lacklustre response. Only the post for the city of Bhopal got over 800 comments. 40 posts concerning other cities got fewer than 10 comments. MyGov is experimenting with various other structures and methods for engaging citizens – apart from discussions – depending on the requirement of various ministries. Citizens are asked to take up real life tasks in the “do” section, information regarding work done by various Ministries is disseminated via blogs and infographics, polls and surveys are conducted for various issues. Mr. Dwivedi said it was difficult to quantify and create metrics for citizen engagement. “It is not easy to set targets like the number of people who should be active on the platform. Unlike Twitter or Facebook, we have to evoke responses as participation on MyGov is voluntary,” he said. It is easy and quick to post a photograph or status when you are facing a problem, but discussing solutions about daily problems takes concentrated effort and time, which is what participation on MyGov is about, he added. While some critics point out that policy discussions are not suited in Facebook or Twitter style setup of MyGov, Mr. Dwivedi said the new platform had to establish the credibility like various other methods of citizen engagement, which takes time. “Public discourse is not, and should not be limited to just one kind. The existence of MyGov doesn’t eliminate the existing offline methods of public consultation. It offers an additional digital medium,” he added. Budget consultation

the impact and result of their activities and engagement on MyGov, Mr. Dwivedi believes. “So has been the case for other social networks like Facebook. It should be no different for MyGov,” he said. Source: www.thehindu.com

Platform that encourages Indian citizens as well as people abroad to 'Discuss' and 'Do'.

The budget consultation process was one of the success stories for the platform. In association with the Ministries of Railways and Finance, MyGov had solicited ideas from citizens for Railway and Union Budgets for two consecutive years. The Railways budget incorporated 10 ideas in 2015 and 15 in 2016, whereas the Union Budget took 10 suggestions in both years from MyGov. One can expect an exponential growth in adoption and usage of the platform once people start witnessing

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Skill India with the mission of National Skill Development Prime Minister Narendra Modi launched National Skill Development Mission on the 15th of July 2015. The mission was started with an initial aim to train 24 lakh people in the nation. Skill India Portal today has 249 training partners; 3,222 training centres; 55,70,476 people trained of which 23,88,009 people have already got placements. NSDC signed 13 Memorandums of Understanding (MoUs) with 12 Canadian educational institutions, including nine colleges. The objectives of these MoUs are for starting Academies of Excellence for training trainers and assessors, and to create Transnational Standards with Canadian Sector Skill Councils. Each Canadian college will be paired with an Indian partner that's focused on a specific sector, such as aviation, healthcare or agriculture. The Indian partners will pay the colleges for their services, which could include curriculum development, education for Indian trainers and assistance with accreditation systems. The colleges will work through centres of excellence overseas that have been established by India's NSDC. Quess Corp signs MoU with KIOCL for skill development: Quess Corp pronounced the signing of a Memorandum of Understanding (MoU) with Kudremukh Iron Ore Company Ltd (KIOCL). This agreement is to further expand the scope of training of Quess Corp Ltd, under its brand Excelus Learning Solutions. This agreement is also to provide a great incentive to the Government's 'Skill India' initiative. As per the agreement, KIOCL will provide all necessary infrastructure facilities for skill development to Quess Corp. The training center will be based at KIOCL Mangalore Unit, which houses the Pellet Plant and the Blast Furnace of the Company. Quess Corp will be providing skill training to the youth in these localities and the employees of mining and iron and steel sector. The training programs will be as per the National occupational standards.

Excelus Learning Solutions works towards improving employability prospects of the youth from rural, below poverty-line backgrounds and the under privileged sections of the society. Most work is done in collaboration with Central and State government through their administration in aided placement linked skill development programs. Skill development in handicraft sector: Skill India Mission has contributed immensely towards the Indian handicraft sector's growth in recent months. Also the handicraft sector has played a great role in government's Skill India Mission. With more than seven million artisans and nearly 67,000 export houses, the Indian handicrafts industry is one of the largest employment sectors of the country. People's contribution towards Skill India: The wonderful initiative of imparting skills to Indian youth to reap the optimum benefit of demographic dividend is fast catching up with many Indians. The famous hair stylist Jawed Habib ensured that his Jawed Habib Hair and Beauty Ltd got to tie up with the NSDC to train youth in the business of beauty and hair styling. Mr. Habib was quoted to say at the time of tie up that, "To train these budding hair stylists of Jawed Habib Gramin Beauty Parlours, we will set up hair academies in districts. To start with, we will train 50,000 youngsters in West Bengal, 5,500 in Bihar and 20,000 in Uttar Pradesh this year. Training in Rajasthan, Himachal Pradesh and Maharashtra will start next year. In all, we will train 3,00,000 people.“

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Success stories: Numerous success stories are doing rounds with youth getting training in various fields and getting gainful employment post the training. Four retired army personnel have worked as trainers for Security sector with Keertika Training Academy. Two trainees, both from Palghar district in Maharashtra which is a tribal region underwent training for Security sector with ASTM Institute and are gainfully employed after training with salary of over Rs. 10,000 per month. Numerous youngsters who received training in Retail sector from Future Sharp Institute who are gainfully employed after completion of training. Under NIIT Yuva Jyoti four trainees made a significant transition in their lives. These trainees includes a jobless graduate becoming Customer Support Associate, a Courier Boy becoming Accounting Professional, a Rickshaw Puller becoming Retail professional and a jobless 12th Pass becoming a Retail professional. Till 2025 over 250 million young people are estimated to enter the Indian workforce. The Indian Institute of Gems and Jewellery in Jaipur has been doing something very interesting. They have been running a special job-oriented program customised to the needs of Deaf and Dumb students. AISECT, which is a 28 year old organization, working in the

unorganized sector and rural and semi-urban parts of the country for skill development, has a rich experience of doing mobilization of trainees for vocational training and skill development. Ground level activation campaigns which can reach the students directly are one of the most effective ways of awareness generation and publicity. In the rural areas, interaction with students and reaching out to them ensures effective awareness generation and recall for courses. A one of a kind partnership that GRAM TARANG has forged in this area is that with Ashok Leyland, a leading manufacturer of heavy vehicles. GRAM TARANG has setup a captive 200 seater fully residential training facility at Bhubaneswar to cater to its manpower requirements across its dealerships and help employ the large number of ITI graduates of the state In another initiative, beneficiaries received training in Retail sector from Future Sharp Institute who are gainfully employed after completion of training. People from varying backgrounds from Jaipur district who pursued training in BPO and Retail sectors from GRAS Academy are gainfully employed after successful completion of training. After doing training in Edusol service in Hospitality, Housekeeping and Food & Beverages sector, The trainees are employed with KFC and Nagarjuna Suites. Source: www.oneindia.com

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ISRO-Is sky the Limit ?

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Space Odyssey Developing the best of technology and harnessing it to meet the country’s socioeconomic needs, ISRO has charted an evitable growth path for India-one firmly grounded on self-reliance. This group of scientists had no room for error even the smallest deviation could undo years of hard work and, more importantly, let slip the chance of setting a world record. They did not disappoint. They delicately manoeuvred the Mars Orbiter mission (Mangalyaan) into orbit, and India became the first country to enter the Red Planet’s orbit in its maiden attempt. For India’s space programme, it was yet another red-letter day. Prime Minister Narendra Modi, who was present at the mars Orbiter Mission (MOM) centre in Bengaluru on September 24, 2014 said, “History has been created today. We have dared to reach out into the unknown and have achieved the near impossible”. The Prime Minister’s words summed up what derives India’s space programme and the agency behind it, the Indian Space Research Organisation (ISRO). In less than two years, ISRO was back to breaking records, this time its own. On June 22, 2016 ISRO launched twenty satellites with a single payload, beating its 2008 record of launching ten satellites in a single payload.

Humble beginnings The Indian space programme started out a series of efforts by individual scientists. The successful launch of Sputnik 1 by the erstwhile Soviet Union spurred the Indian Government to establish the Indian National Committee for Space Research in 1962. Dr Vikram Sarabhai, considered as the father of India’s space programme, was named as its chairman. The committee took over the Department of Atomic Energy’s space science and research responsibilities. In 1969, this committee metamorphosed into ISRO. Headquartered in Bengaluru, Karnataka, ISRO is managed by the Dep’t of Space, Government of India. The agency operates through about 42 centres spread across the country. The main institutions include the Vikram Sarabhai space centre at Thiruvananthapuram, Kerala where the design and development of satellite launch vehicles and sounding rockets are carried out, and made ready for launch operations; the Liquid Propulsion Systems centre(LPSC), spread across Valiamala/Thiruvananthapuram and Bengaluru, where liquid propulsions for ISRO’s launch vehicles and spacecraft programmes are created; and the ISRO propulsion Complex(IPRC) at Mahendragiri, Tamil Nadu, a state of the art facility for researching technology products for the space research programme. The Satish Dhawan Space Centre (SDSC) at Sriharikota, Andhra Pradesh, is the main launch centre with two launch pads. To exploit the revenuegenerating potential of India’s space programme, ISRO has also set up Antrix Corporation Limited. From Sounding rockets to reusable launch vehicles In just over half

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a century, India has made quantum leaps in building launch rockets-pillars of a successful space programme. The trail can be traced back to the first sounding rocket launched from Thumba, near Thiruvananthapuram, on November 21, 1963, which also marked the beginning of the Indian Space programme. These one or two stage solid propellant rockets provided low-cost means to develop more advanced launch vehicles and satellites. The lessons learnt from the hundreds of sounding rockets finally led to the development of Satellite Launch vehicle3(SLV-3), India‘s first experimental satellite launch vehicle. In July 18, 1980, SLV-3 successfully places the Rohini satellite, RS-1, into orbit, helping the country enters the exclusive space nations club. SLV-3 was followed by the augmented satellite launch vehicle (ASLV) programme, which aided in testing critical technology that went into the designing of the Polar satellite Launch vehicle (PSLV). The PSLV has been the workforce launch vehicle for ISRO since its maiden flight in 1993, as well as the power behind the historic moons and Mars missions. The vehicle has launched over 40 satellites for 19 countries. On April 18, 2001, India achieved the next big milestone with the launch of the geosynchronous satellite Launch Vehicle (GSLV). The GSLV mainly helps launch INSAT-class satellites into geosynchronous transfer orbits. ISRO is now developing the launch vehicles of the Future. These include the LVM3, which can go a long way in making the country self-reliant in launching rockets. The launcher will include an indigenously built cryogenic stage, and a higher capacity than GSLV. More interesting is the ongoing work on the reusable launch vehicle-technology demonstrator (RLV-TD), which was successfully flight tested on May 23, 2016. The long-term goal of the programme is to develop a fully reusable launch vehicle. Eye in the sky The launch of Aryabhata on April 19, 1975, sparked off interest in the more important aspect of India’s space programme - satellites. Its success was followed by the Rohini series of experimental satellites, built and launched indigenously. Moving close to its objective of leveraging space technology to meet the country’s development needs, ISRO went on to develop two major operational systems – INSAT (Indian National Satellite) for telecommunication, television broadcasting, and meteorological services; and IRS (Indian Remote Sensing Satellite) for monitoring and management of natural resources and disaster management support. The communication satellite series, which started with APPLE, expanded with the INSAT and GSAT series. INSAT provides regular services in the areas of telecommunications, business and personal communication, broadcasting and weather forecasting and

meteorological services. Its applications have also been put to use in areas such tele-education, tele-medicine, village resource centre (VRC), and disaster management support. GAGAN (GPS aided Geo Augmented Navigation), which ISRO established in association with Airports Authority of India, provides satellite-based navigation services for civil aviation applications. Indian Regional Navigation Satellite System (IRNSS) - a constellation of seven satellites which has been named NavIC (Navigation Constellation Satellite) - is a regional satellite navigation system aimed at providing reliable position, navigation, and timing services over India and its neighbourhood. Indigenous systems have been developed for groundbased observations of weather parameters too. These include automatic weather stations (AWS), agro metrological (AGROMET) towers, Doppler weather radar (DWR); and flux tower. The Indian Remote Sensing (IRS) satellite system has satellites for different areas of application such as OceanSat, CartoSat, and ResourceSat. Over the Moon, and Mars The Indian space programme entered a more exciting phase in 2008, when an unmanned mission to the moon was launched. When Chandrayaan-1 lifted off on October 22, it created history by becoming the first lunar mission to discover the existence of water on the moon, helping nearly settle a decades-long debate. The success of Chanrayaan-1 encouraged space scientists to push deeper into space, sending the first mission to Mars. The Mars Orbiter Mission (MOM), Indian’s first interplanetary mission, was launched on November 5, 2013. And MOM has not disappointed so far. The highlight of the mission has been its low cost, around US $ 74 million. By Contrast, the American Maven orbiter that arrived at Mars around the same times as MOM cost almost ten times as much. Prime Minister Modi highlighted this when he said that India’s real-life Martian adventure cost less than the critically acclaimed Hollywood sci-fi film Gravity. Both the moon and Mars mission teams have won the US-based National Space Society’s Space Pioneer Award. Pushing the boundaries ISRO is not resting on its laurels. Scientists at the premium space research organisation are already working on the follow up missions to the moons and the Mars. Chandrayan-2 is being readied for possible 2016-2017 launch. The mission is likely to include a rover designed to move on the lunar surface, pick up samples, and perform on site chemical analysis. Mangalyaan-2, planned to be launched after Chandrayaan-2 will likely consist of a lander and a Mars rover.

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In short, the Indian space mission’s achievements, since independence have been nothing short of stellar. From sending sounding rockets in the 1960s to the Mars Mission in 2013, the country’s space scientists have consistently pushed the limits. To quote Prime Minister Modi, “Our space programme has been an example of achievement, which inspires the rest of us to strive for excellence ourselves.” Source: IndiaNow www.ibef.org

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Yoga Is Medicine for Our Times

It’s no secret that yoga has taken the West by storm, outpacing the growth and expansion in its native India by many times. As it expands, the forms are rapidly changing and crosspollinating with other mind-body-spirit disciplines. Whole new schools of yogic practice are springing up every year. Traditional kirtan music is now sharing the space with hardrockin’ classes. Yogic innovators are combining yoga with dance, rock-climbing and even surfing. Practitioners from celebrities to cab drivers to schoolteachers to executives are discovering its power to unify body, mind, and soul and create an oasis of peace in the midst of intense modern lives. It’s probably the most accelerated time of evolution for any spiritual practice in history. After thousands of years of slow, moderate evolution, yoga has gone global and diversified forms and penetrated other cultures at shocking speed (including places you might not expect, such as China!) That’s why it’s so heartening that the United Nations has created the first annual International Day of Yoga on June 21. As part of the Day, there are hundreds of local yoga events joining in globally synchronized practices that span the globe. As we mark this important new milestone in yoga’s globalization, it’s vital that we not only explore new forms but also honor the ancient roots and the millennia-old wisdom traditions that form the core of yogic practice — including the more concentrative and meditative practices that are the ultimate vehicle for spiritual realization. As we learn about the ancient roots and advanced practices of yoga alongside the hip, trendy, modern expressions, we open to a full-spectrum appreciation for all that yoga brings us: a holy view of the world. Ultimately, yoga is more than just a spiritual practice. I see it as medicine for the unique ailments of our modern times. Yoga literally means “union” and in an era of fragmented attention and sound bites, the medicine of integrated breath, relaxed body, and a palpable sense of connection with nature has become all the more essential. We’ve entered a truly global era economically, technologically, and culturally but we can’t fully do so until we catch up on the level of our consciousness.

Yoga helps us create a more relaxed, balanced, and whole relationship with our bodies, emotions, and minds, while inviting a spacious sense of interconnection with all of life. Yoga allows us to FEEL global while at the same time LIVE more fully in our body. It also helps us to engage in positive social change from a place of peaceful collaboration rather than angry polarization. It leads us to be more harmonious in our advocacy for cultural evolution as we act in a more loving, centred, and generous way. As we expand our awareness, we feel the plight of the world more deeply because we also have built more capacity to feel all of the subtle sensations, emotions, and tensions in our body. Our bodies become a practice ground for how we relate to the world. As we incarnate more of our full awareness in our cells, we discover subtle currents of joy and pleasure that are always present. And that, in turn, helps us become more effective peacemakers for the world. In short, yoga is helping to create a global shift to a culture of oneness that is dissolving boundaries and infusing us all with love. And THAT is the foundation for creating a future we can truly be proud of. Source: www.huffingtonpost.com

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GST plus digital will make economy cleaner, bigger: Arun Jaitley The Finance Minister said that steps taken by the government in 2016 will change the way “Indians live and spend in future” The implementation of the Goods and Services Tax (GST), coupled with a digitised economy ushered in by demonetisation, will make India’s economy “look much cleaner and bigger”, said Union Finance Minister Arun Jaitley at the Vibrant Gujarat Global Summit Wednesday. “Most of the issues have been sorted out. Some critical issues remain. These critical issues, I hope, over the next few weeks, we will try and solve them,” said Jaitley, while addressing a seminar titled ‘GST: Game Changer of the Indian Economy’. “Once it (GST) is implemented, the combination of a more digitised economy with a more efficient tax system, I am sure, will make India look much better.

It will make our economy look much cleaner and bigger. I am sure Indian industry and assesses, and states, will eventually cooperate and make these two moves highly successful,” he said. Linking demonetisation to GST, the Finance Minister said, “The impact of demonetisation — if I may diverge from GST for a moment — can’t be delinked from this (GST). Excessive paper currency has its own vices… When we release data, we then realise the narrowness of the tax base itself. And once this entire bearer currency, which has anonymity and no history, moves back into the banking system, and is accompanied by a digitalised economy, which the Prime Minister spoke about yesterday, it is going to be a major step towards the integration of informal economy, which at times was also a shadow economy, with the more formal economy. This itself is going to increase the transactions, which are covered within the banking system. Transactions, which may lead to higher revenue in the future, make us go compliant, and give us a cleaner and bigger economy.” Jaitley said, “After the transient impact of this is over. Once it is coupled with the historic implementation of GST itself,

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which has so many advantages… When GST merges all this, and makes India into one entity, it leads to a seamless transfer of global services across the country.” The Finance Minister said that steps taken by the government in 2016 will change the way “Indians live and spend in future”.“The number of steps that have been taken are going to be significant because they are going to change the pattern in which India and Indians are going to live and spend in future. It will have an impact on the course of our future lives,” he said. The minister also mentioned the steps taken to control the flow of black money from overseas destinations. “Since 1996, we have been repeatedly negotiating and renegotiating all the treaties — the double taxation avoidance treaties — with countries, which in effect was facilitating the round-tripping of money. During the last calendar years, we renegotiated and rewrote the Mauritius, Cyprus and Singapore treaties, which was part of the government’s larger desire that the shadow economy should not be allowed to prosper.” Talking about the opening up of the Indian economy, Jaitley said, “A new India had emerged, which is evident from the fact that while the world is moving slowly today and you hear the voices of protectionism in the developed world, the debate over protectionism is hardly heard in India. And that is an indication of how aspirational, open and progress-oriented Indian public opinion is increasingly becoming.”

CII chief bats for simple GST provisions Listing out the industry’s concerns at the seminar, Naushad Forbes, president, Confederation of Indian Industry (CII), said, “Some of the provisions (in the current draft of GST) can be made simple and transparent in such a way that there is no scope for discretion and harassment. I know there are many tax officials present, but I must say that in my career I have not been struck by the angelic nature of tax officials and we should not rely on the angelic nature of tax officials for tax being collected to be transparent and effective.” Forbes added, “There needs to be a single basis of assessment and inspection… Second, using the invoice value as the only basis for valuation of goods. This could create transparency and will provide a complete elimination of all discretion on how goods must be valued.” The CII chief further said, “There are two provisions in the current draft of the GST law, which raise concern for the Indian industry. First, there is a provision for arrest of industrialists for non-bailable offences, which cover five different potential offences. The current tax law provides one provision for a non-bailable offence. Second, there are clauses of profiteering, if decrease in taxes are not passed on to consumers.” Source: www.indianexpress.com

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An Engine of Growth With increased exports, new government initiatives and high competitiveness in the domestic market, India is gradually becoming the global automotive destination

Given its sheer size and interlinkages with the rest of the economy, the automotive industry can rightly be called a critical growth engine for India. In FY 2016, the Indian automotive industry had an output value of about Rs 5 trillion (approximately US$75 billion), accounting for about 13% of the value addition in the country’s manufacturing sector. Exports (both vehicles and components) are substantial at Rs. 1.3 trillion (US$ 21 billion), constituting 7% of merchandize exports. The growth in Indian automotive exports has been positive in the last two years, in contrast to the overall decline in the merchandize exports. Vehicles exports in volume terms have doubled

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from 1.84 million in FY 2009-10 to 3.65 million in FY 2015-16 It is an accepted fact that the Indian automotive industry has a pivot role in contributing to the success of the “Make in India” programme in terms of accelerating economic output, driving employment generation, attracting domestic and foreign investments, upgrading of technology, enabling the development of skilled manpower base, and providing a fillip to the overall economy. The automotive industry has a direct impact on the fortunes of several feeder manufacturing industries (iron and steel, aluminium, lead, rubber, plastics, glass, machine tools, moulds and dyes, chemicals and capital goods) and several in the service sector (logistics, banking, insurance, sales and distribution, services and repair and fuels). By its very structure, it has a tiered value

chain, and therefore, its growth provides a strong fillip to micro small and medium industries of the country across multiple sectors, creating jobs and boosting exports. At the global level, the ten largest automotive manufacturing countries account for over 75% of the total production. Most of them use their large manufacturing bases to cater to their respective domestic markets, while simultaneously exporting a significant portion (both vehicles and components) to other countries that do not have a sufficiently large manufacturing capacity. At present, India is delicately poised to tap a huge growth upside arising from tumultuous changes in the global automotive industry and attain a vantage position in the coming years. While India is blessed with a large domestic market for automotive products with significant headroom for future growth, it is also a serious contender to becoming one of the largest bases for manufacturing vehicles and components for exports. The Automotive Mission Plan 2016-2026 envisages the output of the Indian auto sector across various types of vehicles and components to increase by a factor of 3-4 times over the next decade, catapulting the nation into the third position in terms of volumes behind only China and the US. Changing Dynamics Globally, the industry has faced headwinds over the past decade, struggling for growth and maintaining its margins, particularly after the global financial crisis of 2008. There are, however some structural changes that are transforming the dynamics of the industry sharply. • Over the next decade, the demand for vehicles from developing countries will exceed that from the developed countries • The share of electronics and new – age materials in vehicles is poised to sharply increase in the future. • New forms of power trains in vehicles (electric cars and hybrids) would bring forth new technologies and manufacturers. • The pressure on margins of the automotive players would only increase on account of tepid demand arising from new business models of usage(such as Ola and Uber), and increasing emphasis on public transport in crowded urban areas • There has been an increase in Free/Regional Trade Agreements being signed amongst various governments which are likely to change the dynamics of trade flows among countries. Due to these factors, the global manufacturing bases and components supply chains of the automotive industry are getting rejigged quite drastically, the shifts being in favour of more efficient and low cost centres. India Edge Over the past decade, the competitiveness of manufacturing in India, particularly that of the automotive sector, has decisively improved relative to that of many

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emerging economies such as Thailand, Brazil Russia, Czech Republic, and China. It is heartening to see that the Indian automotive industry has established a global leadership and competitive position in many silvers such as: • Small cars- nearly one – third of the global output is made in India • Diesel and petrol engines of small capacity • Commuters two – wheelers- India is the second largest manufacturer globally • Three – wheelers • Low – Horse- powered tractors – India is the largest producer in the world • Engine and transmission related auto – components, especially those that need operations such as casting, forging, machining , grinding, and manual assembly • Components that have low – scale but involve high manufacturing complexity The above achievement has resulted in a substantial increase in investments and – on the ground presence in India of Global automotive manufacturers, both vehicle makers and component makers. Importantly, the country is not being seen only as a low – cost manufacturer, but is also being developed as a hub for design and engineering. The key factors that work in India’s favour here are its growing reputation as a centre for frugal engineering and technical development, a maturing of its digital skills ecosystem, and a vast base of human talent in engineering, Three initiatives of the government of India that will further improve India’s competitiveness in manufacturing are the roll –out of the Goods and Services Tax regime, improvement in the quality of infrastructure (roads, ports, railways, electricity ,digital connectivity), and improving the ease of doing business. Future Prospects The rising trends in domestic vehicle ownership rates and exports will enable the Indian automotive vehicle and components industry to grow four-fold in value over the next decades to US $300 billion, making it the third largest manufacturer in the world. Exports are likely to be a key driver of this growth, accounting for 35-40% of total manufactured output of the Indian automotive industry, representing a 5x growth in export of the vehicles (volume) and 6X growth in export of auto components over the next decade. There are other positive spin-offs and consequences of the imminent spurt in exports of the Indian

automotive industry. The FDI in the automotive industry (Rs. 814 billion) comprised about 5% of the aggregate FDI received in India during FY 2010-2015. The expected investment over the next ten years is about Rs. 5 trillion (US$75billion), with bulk of it being FDI. As per Automotive Mission Plan2016-2026, the Indian automotive industry is estimated to generate 65 million additional jobs (direct and indirect) over the next decade. About 20% of these jobs would be in manufacturing and logistics, many of them attributable to the rising automotive exports from India. Most of these jobs would impart high skills and capabilities to the personnel involved that are useful across different industries and sectors, thus strengthen the entire manufacturing ecosystem in a fundamental manner. As the global economy has entered a phase of a prolonged slowdown, the world is increasingly looking at India as one of the few large economies that can lead the revival. The automotive industry can be the engine that will power the acceleration of the Indian economy and sustain the momentum over the next decade and more. Source: IndiaNow www.ibef.org

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INDIA’S GOLD CHALLENGE During the 18th century, India was known as a ‘golden bird’ due to its vibrant economy along with the abundance of the precious metal. However, it started losing its dominance in the gold mining segment, despite being the world’s second largest buyer of the metal. India was a global trade hub during ancient era and gold was first found in this country. Karnataka has the distinction of being the primary gold producing state of India. Also, the magnificent piece of ancient India’s artefact— the peacock throne—was made up of 1150kg of gold and 230kg of precious stones. In 1999, it was estimated that this throne would have cost $804 million or roughly Rs450 crore.

Gold is smelted in a furnace at Kolar gold fields. Photo by PIB Archives. India’s modern day gold mining owes its start in 1880, when the nation’s first gold mine—Kolar gold fields—was started by a British firm John Taylor and Sons. Nearly 800 tonnes of gold worth were extracted from these mines, located about 100km from now-Bengaluru, capital city of Karnataka.

The Kolar gold mines was nationalised in 1956 and during 1972, it was handed over to the public sector firm Bharat Gold Mines Ltd (BGML). According to information available on the website of the mines ministry, the pit head frame of the Edgar shaft at Kolar gold fields is the deepest in the world, being more than a mile in depth. Kolar was known for gold mining for over a century, which was eventually closed in March 2001 due to low level of gold production. The government, however, intends to revive the closed mines at Kolar. As reported on 26 October, the government approved three gold exploration projects in the Kolar gold field area of the defunct state-run firm. Also, the government’s intention to revive gold mining at Kolar fields is to trim the rising gold import bill and boost the economy. According to information available with All India Gems and Jewellery Trade Federation, a lobby group, India imported around 100 tonnes of gold during November 2016. Meanwhile, the only producer of primary gold in the country as on date, Hutti Gold Mines Co. Ltd which is a government of Karnataka undertaking, was established in 1947 as Hyderabad Gold Mines. The company currently processes ore from Hutti gold mine in Karnataka and two of its satellite mines at Uti (opencast) and Hira-Buddinni (exploratory underground mine). In October 2016, the company produced around 0.120 tonne of gold. Experts, however, think that the ‘golden goose’ has not been used to its full potential. “I think that the gold production during initial years was also not that sufficient. I believe that we can be a bigger producer. We had an excellent beginning, but in between we were not able to sustain that,” said Naresh Chandra Pant, professor at department of geology, University of Delhi. He further added that the kind of exploration efforts, which was supposed to be put in, lacked from centre and states. The working group on the mineral exploration and development for the 12th Five Year Plan, too, raised concerns on country’s abysmal performance regarding gold mining. “India’s contribution to the world mine production is insignificant being 2.22 tonne which continues to come from only one major producing mine and its two satellite mines—Hira-Buddinni and Uti—all belonging to Hutti Gold Mines Ltd. It is significant to note that a major portion of the country’s production of gold comes as a by-product

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Gold miners drill into an underground rock before blasting. Photo by PIB Archives.

A tube mill which holds concentrated gold. Photo by PIB Archives. from anode slimes resulting from smelting of copper concentrates indigenously produced in Jharkhand and copper concentrates imported by Hindalco (Industries Ltd),� report of the working group added. The by-product gold in 2007-08 was 12.1 tonne. In 2010-11, Hindalco produced 7 tonne of gold and 45 tonne of silver. In October 2016, the company produced 0.728 tonne. Meanwhile, the government has started taking proactive measures to hunt for new reserves of gold in the country so that import bill for the precious metal can be brought down. The total gross import of gold in 2015 crossed 900 tonnes which was 25% more than 2014. In terms of value, it was up about 12% at around $35 billion. The country imported $31.17 billion worth gold in 2014. State-run firms including Geological Survey of India (GSI) and Mineral Exploration Corporation Ltd have been engaged in exploration of gold deposits across the country as well as gold deposits are being auctioned under the amended Mines and Mineral (Development & Regulation) Act, 2015. In 2014-15, GSI took up 24 gold exploration projects in Rajasthan, Bihar, Jharkhand, Odisha, Madhya Pradesh, Maharashtra, Karnataka and Kerela, and established a total of 1.807 million tonne resources of gold ore from Rajasthan and Jharkhand.

During the next year, it took up 22 projects on gold exploration spread across various states. However, resource establishment of these explorations is yet to be carried out. India has also successfully auctioned two gold deposits. Maithan Ispat Ltd, a subsidiary of Mideast Integrated Steels Ltd, has recently bagged a gold mine in Jharkhand. Chhattisgarh auctioned the country’s first gold mine, Baghmara, in February which was won by Vedanta Ltd. Source: www.infracircle.in

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OF COINS CURRENCY AND DEMONETISATION It was 8 November 2016—the date which will go down in history as one of the most dramatic days of India. At around 8pm, Prime Minister Narendra Modi appeared on national television and announced that post 12am that night, banknotes denominated 500 and 1,000 will no longer remain legal tender. Suddenly, 86% of the currency value in circulation became meaningless. The government’s decision is aimed to curb black money and stop terror financing. The aftermath of the move has been mixed—the tech-savvy moved to digital payments and others have been queuing up outside banks and automated

teller machines to exchange older notes and withdraw the new Rs.500 and Rs.2,000 bank notes. Money, or currency notes, has always been an interesting topic but with the recent demonetisation move, the Indian rupee has attained global media coverage which has been unprecedented. The journey of the Indian currency The Indian legal tender was born around the 6th century BC. Ancient Indians are believed to be the earliest issuers of coins in the world, along with the Chinese and Lydians (from West Asia). The first Indian coins—punch-marked coins called Puranas, Karshapanas or Pana—were minted back then by the Mahajanapadas (republic kingdoms) of ancient India. From then till now, it has been a long and fascinating journey for the Indian currency. The Mauryas punch-marked their coins with a royal standard. Chanakya, prime minister to the first Mauryan emperor Chandragupta Maurya, mentions the minting of coins such as rupyarupa (silver), suvarnarupa (gold), tamararupa (copp er) and sisarupa (lead) in his Arthashastra treatise. The Indo-Greek Kushan kings, who came next, introduced

High denomination notes of Rs.500,Rs.1,000 and Rs.10,000 were for the first time demonetised in January 1946.

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the Greek custom of engraving portrait heads on coins. Their was followed for almost eight centuries. The Gupta Empire produced large numbers of gold coins depicting the Gupta kings performing various rituals. This tradition of intricately engraved coins continued till the arrival of the Turkish sultanate in North India. By 12th century AD, the Turkish sultans of Delhi had replaced the royal designs of Indian kings with Islamic calligraphy. The currency—made in gold, silver and copper—was now referred to as tanka, with the lower valued coins being called jittals. The commencement of the Mughal Empire from 1526 AD brought forth a unified and consolidated monetary system for the entire empire. It was during the reign of Sher Shah Suri that a coin of silver weighing 178 grains was minted which was termed the rupiya and was divided into 40 copper pieces or paisa. The silver coin remained in use during the remaining Mughal period. By the time the British East India Company set itself up in India in the 1600s, Sher Shah’s silver rupiya had already become the popular standard currency in the country. Despite many attempts to introduce the sterling pound in India, rupaiya grew in popularity and was even exported as a currency to other British colonies. In 1717 AD, the English obtained permission from Mughal emperor Farrukh Siyar to coin Mughal money at the Bombay Mint. The British gold coins were termed carolina, the silver coins angelina, the copper coins cupperoon, and the tin coins tinny. Paper money was first issued in British India in the 18th

century, with the Bank of Hindostan, General Bank in Bengal and the Bengal Bank becoming the first banks in India to issue paper currency. The ‘Victoria Portrait Series’ notes were the very first paper notes officially introduced by the government, available in denominations of Rs.10, Rs.20, Rs.50, Rs.100, and Rs.1,000. The notes had details provided in two languages, as well as a small portrait of the queen on the top left. Other colonial governments also printed notes for use in their territories in India. For instance, France’s Banque de l’Indochine issued its own ‘roupie’ notes in the late 1890s and these stayed in circulation right up to 1954 when they were replaced with Indian government notes. The Portuguese issued ‘rupia’ notes starting 1883 and they were in use till 1961. As British influence grew over the years, the denominations and styles of currency notes in India evolved with portraits of kings being printed on them, starting with the portrait of George V in 1923.

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All these notes were printed by the Bank of England until India’s first currency printing press was established in Nashik in 1928. Four years later, this press was producing all of India’s notes. In 1935, the responsibility of managing India’s money was handed over to the newly established the Reserve Bank of India (RBI). RBI was formally set up in 1935 with headquarters in Calcutta (now Kolkata) and was empowered to issue government of India notes. RBI also printed 10,000 rupee notes (the highest denomination RBI has ever printed in its history) that were later demonetised after Independence. The first paper currency issued by RBI was a 5 rupee note bearing King George VI’s portrait in January 1938. The changing face of the Indian rupee under free India After Independence in 1947, the first postIndependence note came out in 1949. The 1 rupee note had the image of the Lion Capital of Ashoka at Sarnath printed on the top right. While Pakistan introduced a new series of coins in 1948 and notes in 1949, India brought out its distinctive coins on 15 August 1950. On that day, the new ‘anna system’ was introduced— the first coinage of the Republic of India. The British king’s portrait was replaced with the engraving of the Lion Capital and the tiger on the 1 rupee coin was replaced with a corn sheaf. One rupee now consisted of 16 annas. The 1955 Indian Coinage (Amendment) Act, which came into force on 1 April 1957, introduced a decimal series. The rupee was now divided into 100 paisa instead of 16 annas or 64 pice. The coins were initially called naye paise, meaning new paise, to distinguish them from the previous coins. In 1969, the Mahatma Gandhi Birth Centenary Commemorative Issue was released. Later in 1996, the ‘Mahatma Gandhi Series’ was introduced with prominent new features such as changed watermarks, windowed security threads, latent images, and intaglio features for the visually handicapped. This was replaced in 2005 by the ‘MG series’ notes that had some additional security features. Over the next few years, RBI released notes of different

denominations featuring images of monuments such as Mumbai’s Gateway of India and the Brihadeeswara temple in Tamil Nadu’s Thanjavur town. In the 1960s, notes began to be printed in different colours to help people who couldn’t read. The Ashoka pillar remained one of the main images on most notes until the 1980s when the next redesign occurred. The 1980s saw a completely new set of notes issued. The motifs on these notes marked a departure from the earlier motifs. The emphasis was on symbols of science and technology (Aryabhatta on the Rs.2 note), progress (the oil rig on Re.1 and farm mechanisation on Rs.5) and a change in orientation to Indian art forms on the Rs.20 and theRs.10 notes (Konark wheel and peacock). The 500 rupee note was introduced in October 1987 with the portrait of Mahatma Gandhi. The watermark continued to be the Lion Capital of the Ashoka Pillar. High denomination notes of Rs.500, Rs.1,000 and Rs.10,000 were for the first time demonetised in January 1946 and again in January 1978 when banknotes of Rs.1,000, Rs.5,000 and Rs.10,000 were banned as legal tender to curb black money. The new look The new Rs.500 banknotes introduced the current government has upgraded features of Devanagari numerals, a logo of the Swacch Bharat Abhiyan, and an image of the Red Fort. It is stone grey in colour and smaller in size compared with the older demonetised Rs.500 notes. The brand-new Rs.2,000 notes come in the shade of bright magenta, and with Devanagari numerals and images of India’s Mars orbiter Mangalyaan, yet again a sign of progress. Source: www.infracircle.in

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Startup India, a right idea at the right time The Government of India’s flagship initiative is helping entrepreneurs in their expansion and future growth while also providing opportunities to incubators and investors At a time when the growth in jobs has not kept pace with the rising number of claimants, Prime Minister Narendra Modi’s ‘Startup India’ project holds high importance. The Indian Government is concerned over the rise in unemployment despite the fact that the nation is logging the fastest economic growth in the world. According to the latest Asia-Pacific Human Development Report, India faces a serious challenge of finding jobs for a growing population over the next 35 years. The report said that between 1991 and 2013, the size of the “working age” population increased by 300 million whereas only 140 million could be absorbed in the economy. It is in this context, the government’s twin pet projects – ‘Make In India’ and ‘Startup India’ – seem a perfect answer to the issue. There is an urgent need to create more jobs when the manufacturing sector is witnessing a slump due to the knock-on effect of a global slowdown in China. The national manufacturing policy has suggested that the share of manufacturing in GDP needs to be increased to 25 per cent in order to create 100 million jobs in the

coming decades. Therefore, startups along with the ‘Make In India’ initiative will be the next job creating industry in the years to come. Today, India has the third highest number of startups in the world behind the US and Britain. Nasscom estimates software startups alone will create 800,000 jobs by 2017. Several companies keen to invest sniff high potential in a country where cheap engineering talent is available for setting up a back office. It is hoped the Indian Government’s initiative early this year by offering a slew of tax breaks for companies as well as investors will act as a catalyst in supporting new businesses. The government has announced cheaper and faster patent applications, offering up to 80 per cent rebates on the cost of patents besides setting up a `10,000 crore special fund for startups. Experts believe that exemptions from tax and compliance inspections for three years will prove to be a shot in the arm for the sector. India is seen as one of the world’s fastest growing startup hotspots in the backdrop of a rapid expanding population of internet users. Mobile internet user base in the country has steadily increased from 15.1 per cent in 2013 to 34.18 per cent in 2016. In 2016, 43.8 per cent of internet users in India had purchased products online. In 2019, this figure is expected to grow to 64.4 per cent. India is on the threshold of a second-generation digital revolution, which will change the dynamics in new economy enterprises like healthcare, education, ecommerce, hospitality, agriculture and rural leading to the creation of new jobs. Encouraged by the growing digital buyer penetration, several venture capital funds have raised billions of dollars for their Indian investments in recent years. Japan’s Softbank and WeWork, a New York-based provider of shared office space, are among several companies that have announced their India plans. Bank of America Merrill Lynch has forecast that Indian e-commerce will surge to $220 billion by 2025 from about $11 billion last year. Besides the software, there is considerable investor interest in startups in areas like healthcare software for the poor or low cost solar panels for homes. India offers a huge market

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as far as investment in social impact startups is concerned. Millions of people in rural India still have no access to clean and potable water, toilets and electricity. The rural segment is growing at a healthy pace of 8-10 per cent per annum and is expected to add $100 billion in consumption demand by 2017. The Government is getting an encouraging response and billions of dollars in funding for a push into solar energy after PM Modi promised to provide electricity to every village before the end of 2018. The Modi Government has drawn up ambitious plans to raise solar capacity five-fold to 100,000 MW by 2022 to meet the growing power needs and create jobs. India is the youngest startup nation in the world as close to 70 per cent of the entrepreneurs are less than 35-yearsold. About three to four IT startups are born every day in India. Over the years, there has been a tactical shift in the mindset of the youth who want to be seen as job creators than job seekers. And ‘Startup India’ is a perfect platform to give wings to the dreams of the youth of the country. Source:www.indiaperspectives.in

India has the third highest number of startups in the world behind the US and Britain

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The Rise of the services sector is redefining India's growth narrative India's services sector has remained resolute and on a steady rise. According to a recent report published by the Confederation of Indian Industry (CII) and KPMG, India has moved up to become the fastest growing service economy in the world. The services sector is a dominant sector in India's GDP, with attractive foreign investment flows and contributing significantly to exports. The Indian services sector has attracted the highest amount of Foreign Direct Investment (FDI) inflows. We have witnessed good revenue generation with growing sectoral activities across trade, tourism, healthcare, transport, communications, information technology, finance, insurance, real estate, business services, social and personal services. The factors leading to this rapid rise are obvious. Increasing purchasing power, rising social mobility and digital penetration to rural markets are creating a spurt in demand for the services sector in India. The contribution of the services sector has increased very rapidly in India's GDP, with many foreign consumers showing interest in the country's service exports. This is attributed largely to our country's pool of highly skilled, low cost and educated manpower.

Foreign companies are outsourcing their work to India especially in the area of business services, including business process outsourcing and information technology services. This has given a major boost to the services sector in India, which in turn has increased the services share in the GDP pie. The Government of India recognizes the importance of promoting growth in this area and is creating an enabling environment that will give a further push to sectors such as healthcare, tourism, communications, information technology, among others. An encouraging regulatory framework and an easing of trade barriers at both domestic and international levels through agreements will only enhance India's competitiveness at a global level. This will also mean an increase in the quality of employment and not just numbers. This will lead to a quality labour force for the country. The multiplier effect on ancillary industries owing to the growth in the services sector is a natural outcome. For instance, a spurt in tourist arrivals into India will not only positively impact the hotel and airlines industries but also boost the sale of crafts and artefacts that can be showcased as part of integrated business plans between

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stakeholders, both private and public. The regulatory framework also needs to take into account the evolving nature of the services sector, and how it's interlinked with other sectors. India's services sector, while generating high income, is still low on generating employment as per the ILO's Global Employment Trends 2016. However, the Indian healthcare sector has grown to become one of the largest sectors in the services industry in terms of both revenue and employment generation. Healthcare essentially comprises hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance and medical equipment. This sector in India is growing at a brisk pace due to its increasing coverage, services and growing investments by public as well as private players. Due to the diverse range of medical services, this sector impacts tertiary industries by virtue of indirect employment to healthcare professionals such as nurses, residential associates and medical assistants. Our government is taking conscious steps to engage with other nations to give a further fillip to the services sector. India has signed comprehensive bilateral agreements with the Governments of Singapore, South Korea, Japan and Malaysia. A Free Trade Agreement (FTA) in services and investment was also signed with the Association of South East Asian Nations (ASEAN). Prime Minister Narendra Modi's visit to Kuala Lumpur to attend the 13th ASEAN-India Summit and 10th East Asia Summit in November 2015 was his second interaction with ASEAN Members (first being at Nay Pyi Taw, Myanmar in November 2014 at the 12th ASEAN-India Summit). PM Modi had also visited Singapore in November 2015 to commemorate the 50th anniversary of bilateral relations and elevate this relationship to strategic partnership. With the right regulatory and policy framework and creating a climate that will ease the way of doing business, this industry can leapfrog to achieve substantial growth. Significant efforts in this direction are already underway. The first ever Global Exhibition on Services (GES), inaugurated by Prime Minister Modi, was held in April 2015 in New Delhi, providing a platform for all the participants, delegates, business visitors and other key decision-makers from the services industry and other related industries to interact with each other, and explore new business avenues. The success of GES resulted in a second edition that took place in April this year -- it focused on the services sector of the world economy and provided a platform to discuss and debate the future of our nation's services industry. India's services sector is advancing rapidly and is now poised for a bigger slice of India's GDP. This is no

ordinary achievement for a country which is predominantly dependent on agriculture. The accomplishment is even more commendable against the backdrop of challenges such as policy changes, a fragile world economic environment and raising growth capital.

“India has moved up to become the fastest growing service economy in the world.� We need to amplify our presence manifold in sectors where onshore and non-off-shore services are valued such as travel, transportation, healthcare, education, communications and financial services. Services sector growth rate in India's GDP has indeed registered a significant growth over the past few years. With the support of the government, I am confident that we can further capitalize on the immense opportunity in this space and help contribute significantly towards India's growth. Source: www.huffingtonpost.in

The contribution of the services sector has increased very rapidly in India's GDP, with many foreign consumers showing interest in the country's service exports.

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Striking the perfect balance India’s Intended Nationally Determined Contributions (INDCs) reflect a multi-pronged and comprehensive approach to fight climate change The Conference of the Parties (COP), under the United Nations Framework Convention on Climate Change (UNFCCC), has been the leading international initiative to find a collective global response to one of the most pressing challenges facing the planet today. And over the years, India has made a meaningful contribution to this effort. At the COP 21 summit, held between November 30 and December 11 in Paris last year, too India took on a strong leadership position to play a more active role in shaping the world’s response to climate change. After two weeks of intense negotiations, 196 nations signed what is being hailed as a ‘landmark’ deal to limit carbon emissions through Intended Nationally Determined Contributions (INDC), restrict the rise in global temperatures to below 2ºC of pre-industrial levels, and make the world economy carbon neutral by the second half of the century. They have pledged $100 billion a year to finance the effort of countries towards cleaner technology but there is no specific liability on each country and no means to enforcing it. In this context, India made three important moves: First, it put greater emphasis on incorporating clean fuel and green technologies while, of course, still underlining the importance of the principle of Common But Differentiated Responsibilities (CBDR). Second, it launched the International Solar Alliance inviting 120 solar-abundant countries to join the quest for affordable solar power that would eventually replace the fossil fuels of today. The alliance was launched by Prime Minister Mr Narendra Modi, alongside French President Mr Francois Hollande. India is making the initial investment of $30 million and setting up the alliance’s headquarters in the country but the plan is to eventually raise $400 million from membership fees and international agencies. Finally, India pushed for equity in climate finance, suggesting developed countries, which prospered on the back of a fossil fuel-powered industrial movement, now pay back to the planet by helping developing

countries finance their shift from cheap but dirty fuel to clean but expensive fuel. This will ensure that developing countries can continue on the path of fast economic growth, which they desperately need if they are to pull thousands out of poverty, in a sustainable, eco-friendly manner. India’s INDCs, a necessary pre-summit input that had been declared last October, have already set the bar high and were crucial in ensuring success in the negotiations. The INDCs stand on three primary platforms: The reduction of per capita emissions, an increase in both the share of renewable energy in the country’s energy basket and in forest cover. In the first case, India has pledged to cut the emissions density of its Gross Domestic Product by 33 to 35 per cent by 2030. This will bring emissions down to pre2005 levels. In the second case, India will ensure that at least 40 per cent of all its energy needs are met through renewable sources of energy by 2030. In the third case, it has pledged to increase its forest cover to such an extent that it will be able to absorb an additional 2.5 to 3 billion tonnes of carbon dioxide by 2030. Overall, the INDCs reflect on a multi-pronged and comprehensive approach to fighting climate change. They reaffirm India’s long-term commitment to making a meaningful contribution to the new global processes that will help the world, particularly the emerging economies, transition towards a low-carbon economy while balancing the demands of fast-paced development. Minister of State for Environment, Forest and Climate Change, Mr Prakash Javadekar, addressing a press conference on INDCs in New Delhi Source:www.indiaperspectives.in

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A brief history of India’s foreign policy As India turns 70, take a look back into the diverse history of its foreign policy, mapping out the global trends which influenced and impacted Indian policy, as well as some Indian events which changed the world. Source: http://www.gatewayhouse.in

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Disclaimer Every effort is made to provide accurate information in this magazine. However, since the information is taken from various sources, Consulate General of India Melbourne cannot guarantee that there will be no errors. Consulate General of India Melbourne makes no claims, promises or guarantees about the accuracy, completeness, or adequacy of the contents of this magazine and expressly disclaims liability for errors and omissions in the contents of this magazine.

Digitally published by: Consulate General of India Melbourne

India@70  

As India enters the 70th year of Independence, we present you some stories which will reflect India’s growth and transformation in all thes...

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