Need to enhance outreach of NSIC, NSSH schemes across Maharashtra: MSME Minister Manjhi
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Time of India
4 hours ago
- Time of India
Camaraderie, colours & cheers at US I-Day Bash
Charge' d' Affaires, US Embassy, Jorgan Andrews with guest of honour Hardeep Singh Puri With red, blue and white banners reminiscent of old celebrations, comfort foods like cornbread and mac & cheese, and decorations celebrating everything American – the US Embassy marked the 249th anniversary of American independence. For the first time, the celebrations were held at Bharat Mandapam. Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas, was the guest of honour. A toast to family and a touch of humour Thanking everyone for joining the celebration, Chargé d'Affaires, US Embassy, Jorgan Andrews also made a heartfelt mention of his family. 'On a personal note, I would also like to thank my wife, Sara, and my daughter, Dagny, who are visiting from our home in Virginia,' he said, adding, 'I don't know if you recall, but during his campaign for President way back in 2000, George W Bush used to say that behind every successful man stands a very confused and surprised woman – and since the day I have been successful, no one in this room is more surprised than Sara. But I owe any success to her.' You Can Also Check: Delhi AQI | Weather in Delhi | Bank Holidays in Delhi | Public Holidays in Delhi Mac & cheese, cornbread & everything American Highlighting the reflection of American spirit and tradition, Andrews added, 'We are trying to capture basic Americano – everything from red, blue and white banners, reminiscent of the old celebrations; the basics. Even the menu is a reflection of our homestyle cooking. It is a mix of nuts and berries in recipes with agricultural products from California, all the way to Southern-style comfort foods like cornbread and mac & cheese. These things are unique to certain parts of America, and they resonate with Americans as we celebrate these holidays – as we picnic, as we are in the park, and have fireworks. We are trying to recreate that reminiscent summertime holiday feel, with community, family and friends – with the foods that remind us of home.' 'First US National Day at Bharat Mandapam' The event began with the US Marines presenting the colours. Jorgan Andrews told us, 'This is the first time we have come to Bharat Mandapam for our National Day celebrations. If I am not mistaken, this might be the first time that any embassy has done its National Day here... This is our 249th anniversary. Next year, it will be our 250th anniversary, so it's going to be a really big celebration. We thought, what more fitting place could we choose to celebrate the unity between our countries and our national birthday than this magnificent, impressive facility. '
Time of India
4 hours ago
- Time of India
RDI scheme: Government aims to 'jumpstart India's R&D ecosystem'; offer low-interest funding for startups
This is an AI-generated image, used for representational purposes only. India's newly approved Research Development and Innovation (RDI) scheme, with a massive Rs 1 lakh crore corpus, is set to provide a major boost to private sector R&D and deep-tech startups by making long-term, affordable financing accessible for high-impact innovation projects, a senior government official said. The scheme, approved by the Union cabinet on July 1, is designed to ease funding constraints and foster a robust domestic innovation ecosystem. A senior government official cited by news agency PTI said that the RDI scheme is structured to help companies access long-term, low or nil-interest financing for high-risk, high-tech research projects. The initiative will also support equity-based funding for startups and facilitate the creation of a deep-tech Fund of Funds. The corpus will be managed through a Special Purpose Fund under the Anusandhan National Research Foundation (ANRF), with Rs 20,000 crore already allocated in the Union Budget for FY26. The government will provide a 50-year interest-free loan to the fund, which will further allocate capital to second-level fund managers, including AIFs, NBFCs, and Focused Research Organisations. The official further said that the aim is to help India "jumpstart its R&D ecosystem" by creating a mechanism where ministries can propose relevant technologies for inclusion under the scheme. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Secure Your Child's Future with Strong English Fluency Planet Spark Learn More Undo 'Any ministry that wants a technology included under the scheme can send a proposal to the department of science and technology,' the official added. The department of science and technology will act as the nodal agency for implementation and will issue detailed operational guidelines. These will include provisions to ensure effective capital recycling so that private sector RDI efforts continue to receive support over time. India currently spends just 0.65% of its GDP on R&D, significantly below the global average of 2.7%, and far lower than countries like Israel (6.3%) and South Korea (5%). According to officials, one of the key objectives is to change the perception in the private sector that R&D is a cost rather than an investment. Union minister Ashwini Vaishnaw said the scheme will also fund transformative, higher technology readiness projects, and assist in acquiring critical or strategically significant technologies. 'By addressing the critical need of the private sector for long-term, affordable financing, the RDI Scheme fosters self-reliance and global competitiveness,' he stated. The scheme will be overseen by multiple layers of governance. The governing board of ANRF, chaired by the Prime Minister, will provide strategic direction. An Executive Council under ANRF will approve project scopes and second-level fund managers. Meanwhile, an empowered group of secretaries headed by the cabinet secretary will periodically review the scheme's performance and recommend changes. Officials stressed that selected fund managers will include experts from industry, academia, finance, and technology sectors, ensuring that project evaluations remain independent and effective. Launched under the broader umbrella of Startup India , the RDI scheme adds another critical layer to India's ambition to become a global innovation powerhouse by 2047. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India Gazette
4 hours ago
- India Gazette
Modi will 'meekly bow' to Trump tariff deadline: Rahul Gandhi takes dig at Piyush Goyal's 'Do not make deals based on deadlines or time pressure'
New Delhi [India], July 5 (ANI): A day after Union Minister Piyush Goyal categorically stated that 'India never enters into trade deals based on deadlines or time pressure', Leader of Opposition in the Lok Sabha Rahul Gandhi on Saturday asserted that Prime Minister Narendra Modi will 'meekly bow' to theTrump tariff deadlines, referring to the India-US trade deal. Rahul Gandhi referenced a media report and wrote on X, 'Piyush Goyal can beat his chest all he wants, mark my words, Modi will meekly bow to the Trump tariff deadline.' Commerce and Industry Minister Piyush Goyal on Friday emphasised that India will only enter into trade agreements, including the proposed US Bilateral Trade Agreement (BTA), when they serve the country's national interests and offer mutual benefits. Speaking on the sidelines of the 16th Toy Biz B2B expo in New Delhi, Goyal made it clear that India's approach to international trade negotiations remains firm and principled. 'It should be a win-win agreement, and only when India's interests are safeguarded -- national interest will always be supreme -- and keeping that in mind, if a good deal is formed, India is always ready to engage with developed countries,' the minister stated. Goyal emphasised that India negotiates on its own minister revealed that India is currently engaged in trade discussions with multiple countries across different continents. 'Discussions are ongoing with various countries -- be it the European Union, New Zealand, Oman, the US, Chile, or Peru. Talks about agreements are underway with many nations,' he said. However, Goyal stressed that the multiplicity of negotiations does not mean India is in a rush to conclude deals. 'A Free Trade Agreement is only possible when there is mutual benefit,' he explained. 'India never enters into trade deals based on deadlines or time pressure. A deal is accepted only when it is fully matured, well-negotiated, and in the national interest,' Goyal stated. This approach reflects India's confidence in its negotiating position and its commitment to securing favourable terms for its economy and businesses. At the toy expo, Goyal expressed optimism about the growth potential of India's toy manufacturing sector, highlighting both domestic and international opportunities. 'I am sure with the high quality goods I am seeing here, they will all be finding good market with the whole gulf region all the 6 countries of the Middle East as they are today finding in nearly 153 countries in the world,' the minister said, praising the quality of Indian toy products. Goyal announced that the government is preparing additional support measures for the sector. 'We will soon be coming out also with the support program and incentive scheme to support the toy industry,' he revealed. The minister highlighted the enormous domestic market potential for toys in India, noting the country's demographic advantage. 'Considering that we have a market of 1.4 billion Indians who would like to use toys. At every age, there is a demand of toys,' Goyal observed. He characterized the toy industry as 'a growing sector which have eyes on the world,' indicating the government's confidence in the sector's export potential alongside domestic consumption. (ANI)
