Planning of investment in Bharat

Govt to unveil more steps to attract investment in defence sector: Rajnath

Key points:

1. Defence Minister Rajnath Singh on Monday said the government will unveil more steps to attract investment in defence manufacturing so that India can produce world-class military platforms and weapons systems.
2. While kick-starting ‘Atmanirbhar Week’ in the defence sector on Monday, Singh said self-reliance in this field is a tall task which needs wholehearted involvement of all stakeholders to make it successful.

(Business Standard, 10 August 2020) News Link

Blackstone set to acquire Rs 12,745 crore of Prestige assets
Key points:

US private equity giant Blackstone Group is set to acquire property developer Prestige Group’s rental income assets for more than $1.7 billion (Rs 12,745 crore) in the largest real estate portfolio buyout in India

If the deal goes through, Prestige will use the money to repay all of its debt and deploy the rest as equity capital for growth.

It will be Blackstone’s single largest realty investment in the country and will also eclipse the $1-billion raised through listing of India’s two real estate investment trusts (REITs) — Embassy and Mindspace Business Parks.
(Economic Times, 10 August 2020) News Link

Indian Army to buy 6 indigenous weapon-locating Swathi radars for over ₹400cr

Key points:

1. In a boost to Make in India in the defence sector, six more Swathi weapon-locating radars developed by Defence Research and Development Organisation (DRDO) are likely to be procured for Indian Army.
2. The case for acquisition of six Swathi weapon-locating radars worth over ₹400 crore is scheduled to be taken up in a defence ministry meeting likely to be held tomorrow, defence sources told ANI.
3. The weapon-locating radars developed by the DRDO and built by Bharat Electronics Limited had achieved a major success as they were supplied to a foreign country also.

(Live Mint, 10 August 2020) News Link

Planning of Central government to manufacture in Bharat

1. PM Modi launches submarine cable project to boost 4G services in Andamans

Key points:

1. Prime Minister Narendra Modi on Monday launched the submarine optical fibre cable project that will connect Chennai and Andaman and Nicobar Islands and boost 4G services on the islands. 
2. The rollout of the ₹1,224 crore underwater project comes amid concerns over national security following the India-China geopolitical tensions.
3. The 2,313 kilometre undersea cable will connect seven islands of Andaman other than the capital city Port Blair.
4. The sevens islands are Swaraj Deep, Long Island, Rangat, Little Andaman, Kamorta, Car Nicobar and Greater Nicobar.

(Live Mint, 10 August 2020) News Link

Startup in Bharat by Bhartiya

1. BITS Pilani students’ robotics startup is working towards mind-controlled wheelchairs and prostheses
   Key points:
2. Siddhant Dangi and Deepansh Goyal, final year engineering students at Birla Institute of Technology and Science (BITS) Pilani, have turned entrepreneurs by launching a technology startup that can help understand the thoughts of a human mind.
3. It has created a headgear that captures electrical impulses of the brain and transmits them to its software platform, which analyses the data. Siddhant mentions that the cheapest EEG device that captures these signals costs around Rs 80,000.
   (Your Story, 10 August 2020) News Link
   

Hyper Lychee aims to make a clean sweep with electric scrubber that simplifies household chores

Key points:

Product technology startup Hyper Lychee has launched a Kickstarter campaign for its first product, Skadu, an electric scrubber that will make short work of cleaning surfaces.

A Skadu kit comprises the machine, a triple head attachment, scrub pads, and other attachments. The hand-held electric tool is designed to clean surfaces, with the three scrubber disks rotating in opposite directions.

The starting price of Skadu is $89, and goes up to $119, depending on the power of the product. The startup claims to have sold over 650 units.
(Your Story, 10 August 2020) News Link

How retail tech startup SnapBizz scaled its business and clocked Rs 7 Cr revenue amidst COVID-19 pandemic

Key points:

Retail tech startup SnappBizz uses technology to connect mom-and-pop stores and FMCG companies, and has signed up over 10,000 kiranas. The startup, which clocked Rs 7 crore revenue amidst COVID-19 pandemic, is poised to grow its revenue 3x by 2021.

SnapBizz has raised in excess of $12 million in the seed and Series A rounds from VCs such as Jungle Ventures, Taurus Venture, and Blume Ventures, as well as strategic investors like Nielsen, Qualcomm, AUO, and Tata Group Chairman Ratan Tata.

(Your Story, 10 August 2020) News Link