April 14, 2024: Industry body CII has come up with a corporate governance charter for startups in a move aimed at strengthening the governance framework in India’s startup ecosystem where doubts have surfaced about the robustness of the governance mechanism at several new-age businesses.
R M Consulting’s analysis of this CII measure is available at:
https://rmconsulting.in/f/cii-corporate-governance-charter-for-startups-%7C-a-welcome-measure
April 02, 2024: The UK and the US have signed a Memorandum of Understanding (MoU) on April 1 about working together to develop tests for the most advanced AI models, following through on commitments made at the AI Safety Summit held in the UK in November 2023.
March 27, 2024: The US Department of Commerce’s National Telecommunications and Information Administration (NTIA) called for independent audits of high-risk AI systems as part of a series of recommendations in the AI Accountability Policy Report released on March 27.
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March 26, 2024: In his 2024 Annual Chairman's Letter to Investors, BlackRock's Larry Fink has advocated the benefits of "energy pragmatism" saying that it is still a path to decarbonization. Going on to point out that "The energy market isn’t divided the way some people think, with a hard split between oil & gas producers on one side and new clean power and climate tech firms on the other".
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Larry Fink, Energy Pragmatism, & Grandstanding on Renewables
March 21, 2024: The UN General Assembly, on March 21, 2024, adopted a landmark resolution on the promotion of “safe, secure and trustworthy” AI systems. It is the first time the Assembly has adopted a resolution on regulating artificial intelligence.
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March 15, 2024: The Union government has approved a scheme to promote India as a manufacturing destination so that e-vehicles with the latest technology can be manufactured in the country. The policy is designed to attract investments in the e-vehicle space by reputed global EV manufacturers.
March 14, 2024: That startups can play a pivotal role in India’s growth and development has never been in doubt. Industry body CII report has spelt out just how these new-age businesses can make a difference. As per its recent report titled Unicorn 2.0: Adding the next trillion , the startup and venture economy can likely contribute $1 trillion to the Indian economy and, also, add over 50 million jobs by FY 2030.
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March 10, 2024: India has signed a trade and economic partnership agreement(TEPA) with the European Free Trade Association (EFTA). Among the EFTA countries, Switzerland is India’s largest trading partner, followed by Norway.
March 07, 2024: In keeping with its vision of ‘Making AI in India’ and ‘Making AI work for India’, the country has approved the IndiaAI mission with a budget outlay of Rs 10,371.92 crore. The IndiaAI mission will establish a comprehensive ecosystem to promote AI innovations.
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February 23, 2024: Things seems to be getting challenging by the day at edtech firm Byju’s, once the most valued Indian startup and one of the biggest poster boys of new-age entrepreneurship. As Byju Raveendran challenges the validity of the February 23, 2024 EGM held by a group of investors to oust him from the company, are we in for a long-drawn face-off between a high-profile founder and select shareholders?
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Governance coming to the fore biggest gain for startup arena
February 23, 2024: Procurement of services through Government e-Marketplace (GeM) has grown almost 176 per cent from nearly Rs 66,000 crore in FY23 to nearly Rs 1,82,000 crore in FY24 (as on February 22, 2024). February 2024 saw a huge surge in procurement of services contributing to nearly 80 percent of the total order value transacted on GeM.
February 23, 2024: Indian Institute of Management, Shillong, will have the country’s first Gati Shakti Research Chair. The Chair will spearhead high-quality academic research on multimodal logistics with a North-East focus. It will also support the “multimodal logistics research activities, capacity building and outputs to enable PM Gati Shakti Masterplan to power the East and North-East Region’s logistical capacity.”
Industry body CII has come up with a corporate governance charter for startups in a move aimed at strengthening the governance framework in India’s startup ecosystem where doubts have surfaced about the robustness of the governance mechanism at several new-age businesses.
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