
Sahana System emerges as the lowest bidder for Indian Navy contract
Tired of too many ads?
Remove Ads
Ahmedabad-based IT services company Sahana System on Thursday said its subsidiary Softvan Ltd has emerged as the lowest (L1) bidder for a contract floated by the Indian Navy The project involves providing Non-RF infrastructure for upgradation of RF measurement system, the company said in an exchange filing. Non-RF refers to technologies and systems that do not use radio frequencies for communication or other purposes."The bid is valued at Rs 8.01 crore," Sahana System said.The company stated that the successful execution of this contract could open doors for future engagements with the Indian Navy - Defence sector, given the experience criteria and past performance requirements often seen in such bids.This project adds to the group's service portfolio, showcasing its capabilities in specialized infrastructure for RF measurement systems, it added.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


India Gazette
35 minutes ago
- India Gazette
Digital infrastructure transforms India's tax administration, refunds surge 474%
By Shailesh Yadav New Delhi [India], July 13 (ANI): India's tax administration has undergone a dramatic transformation over the past decade, with taxpayer refunds growing at nearly double the pace of tax collections, Ministry of Finance sources told ANI. The numbers paint a striking picture of administrative efficiency gains. Between 2013-14 and 2024-25, refunds issued to taxpayers have skyrocketed by 474 per cent, rising from Rs 83,008 crores to Rs 4,76,743 crores. This growth significantly outpaces the 274 per cent increase in gross direct tax collections during the same period, which rose from Rs 7,21,604 crores to Rs 27,02,974 crores. Perhaps most impressive is the speed of refund processing. The average time to issue tax refunds has plummeted from 93 days in 2013 to just 17 days in 2024 - an 81 per cent reduction that reflects the success of digital modernization efforts. The transformation is largely attributed to comprehensive digitization of tax processes. The introduction of end-to-end online filing systems, faceless assessments, and automated refund processing has eliminated traditional bottlenecks that previously delayed taxpayer services. 'The adoption of digital infrastructure including pre-filled returns, real-time TDS adjustments, and online grievance redress mechanisms has fundamentally changed how we serve taxpayers,' a senior CBDT official familiar with the modernisation program told ANI. The taxpayer base has also expanded significantly, with income tax returns filed growing from 3.8 crores in 2013 to 8.89 crores in 2024 - a 133 per cent increase that demonstrates growing formalisation of India's economy. The proportion of refunds relative to gross tax collections has risen from 11.5 per cent in 2013-14 to 17.6 per cent in 2024-25. 'Growing refunds reflect increased voluntary compliance and the deepening of advance tax payment mechanisms,' said another senior Income Tax offcial. 'As more taxpayers participate in formal tax processes and TDS coverage expands, excess remittances naturally become more common,' the official added. The surge in refunds and their faster processing carry significant economic implications. Quicker refund turnaround time improves cash flow for businesses and individuals, while the growth in refund volumes signals expanding participation in India's formal economy. The data suggests that India's tax ecosystem has achieved what officials describe as 'systemic maturity' - a state where efficiency, transparency, and taxpayer facilitation have become embedded principles rather than aspirational goals. (ANI)


Time of India
an hour ago
- Time of India
Syria-DPWorld deal: $800 million Tartus port pact signed; post-Assad regime eyes post-war reconstruction
Syria has signed an $800 million agreement with UAE-based company DP World to develop the port of Tartus, state media reported on Sunday, marking a major step in the country's push to rebuild after 14 years of civil war. The deal comes as the new Islamist authorities, who took power following the ousting of longtime ruler Bashar al-Assad in December, continue efforts to reconnect Syria with international companies and revive its shattered economy. 'In the presence of President Ahmed Al-Sharaa, an agreement was signed between the General Authority for Land and Sea Ports and DP World, valued at $800 million, as a strategic step aimed at enhancing port infrastructure and logistics services in Syria,' state news agency SANA reported. DP World CEO Sultan Bin Sulayem said the country held 'significant assets, including the Port of Tartus, which represents an opportunity to transport and export many Syrian industries.' He also pledged to make Tartus 'one of the best ports in the world'. DP World operates dozens of marine and inland ports and terminals across Asia, Africa and Europe. The war left Syria's infrastructure in ruins. The new leadership is banking on the easing of Western sanctions to attract investment and drive reconstruction. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is it legal? How to get Internet without paying a subscription? Techno Mag Learn More Undo Qutaiba Badawi, head of the general authority for land and sea ports, said the agreement was more than technical. 'We are laying the foundation for a new phase of field and maritime work in Syria, repositioning ourselves on the regional and international economic map,' he said, quoted by AFP. In May, Syria signed a 30-year contract with French shipping giant CMA CGM to run the port of Latakia. That same month, it finalised a $7 billion energy deal with a consortium of Qatari, Turkish and US companies aimed at restoring its crippled power sector. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now


Hans India
an hour ago
- Hans India
Startup funding stands at $95 million this week
New Delhi: Startup funding in India stood at around $95 million this week, with 17 startups securing investments across various stages. Out of these, five were growth-stage deals and 10 were early-stage, while two startups chose not to disclose their funding details. Among cities, Bengaluru-based startups led with six deals, followed by Delhi-NCR with four. Mumbai, Hyderabad and other cities also witnessed activity. Fintech emerged as the most funded sector this week with four deals. Deeptech and SaaS startups followed with two deals each, while proptech, foodtech, and OTT startups also raised funds. Seed funding rounds dominated this week, with seven deals. Series A and pre-Series A rounds saw two deals each, while pre-IPO, debt, and Series B rounds also featured. The average startup funding over the past eight weeks stands at around $205.24 million, with roughly 21 deals per week. Growth and late-stage startups collectively raised $72.9 million. Leading the pack was IPO-bound proptech firm Smartworks, which raised $20 million in a pre-IPO round. Education-focused NBFC Varthana secured Rs 159 crore (approximately $18.5 million) through debt financing. Clean-label food brand Kehtika raised $18 million in a Series B round led by Narotam Sekhsaria Family Office and Anicut Capital. Fintech player Credit Wise Capital and Avis Hospital were also part of the funding list this week. In the early-stage category, 10 startups raised a total of $22.11 million. Tech-enabled NBFC InPrime Finserv led this segment by raising $6 million in its Series A round from Pravega Ventures. Other notable startups that raised funds include NRI-focused fintech platform Belong, OTT microdrama app Chai Bisket, home services startup Clean Fanatics, and deeptech firm Green Aero. Meanwhile, cybersecurity startup LdotR and SaaS platform Monetize360 also raised capital but did not disclose the amounts. In strategic developments, workspace solution provider Incuspaze acquired VSKOUT, a B2B SaaS platform offering curated data analytics for commercial real estate. Separately, Infinity Fincorp Solution, a non-bank lender, signed a share purchase and subscription agreement with global investment firm Partners Group, which will acquire a significant majority stake in the company.