WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (1st – 7th June 2020)

June 11, 2020

Weekly Indian Economic & Commercial Report ( 1st – 7th June, 2020) Source: IBEF News Letter  Make in India gets a big boost; MoD places indent for supply of 156 upgraded BMP Infantry Combat Vehicles of value Rs 1,094 crore on OFB 03.06.2020           In a major boost to ‘Make in India’ initiative of the Government, Acquisition Wing of Ministry of Defence (MoD) with the approval of Raksha Mantri Shri Rajnath Singh, has today placed an Indent on Ordnance Factory Board (OFB) for supply of 156 BMP 2/2k Infantry Combat Vehicles (ICV) with upgraded features for use of the Mechanised Forces of the Indian Army. Under this Indent, the ICVs will be manufactured by Ordnance Factory, Medak in Telangana at an approximate cost of Rs 1,094 crore (US$ 155.20 million). The BMP-2/2K ICVs are going to be powered by 285 horsepower engines and are lower in weight which will make them highly mobile to meet all tactical requirements of mobility in the battlefield. These ICVs will be able to reach a speed of 65 kilometres per hour (kmph) with easy steering ability in cross country terrain. They will have amphibious capabilities to travel at 07 kmph in water. These are designed to overcome slope of up to 35° cross obstacles of 0.7 metre and have lethal firepower capability. With the induction of these 156 BMP 2/2K ICVs, planned to be completed by 2023, the existing deficiency in the Mechanised Infantry Battalions will be mitigated and the combat capability of the Army will be further enhanced. India as a major country of the world with appropriate technology, capital including FDI and extraordinary human resource contributing significantly to the global economy: Ravi Shankar Prasad 03.06.2020           The Government headed by Prime Minister Narendra Modi has always believed in transformative programs be it Digital India, Make in India and Startup India. These initiatives have empowered ordinary Indians, led to digital inclusion, encouraged innovation and entrepreneurship, and raised the stature of India as a global digital power. Promotion of electronics manufacturing has been a key component of Make in India program. With efforts such as the National Policy on Electronics, 2019, Modified Special Incentive Scheme (MSIPS), Electronics Manufacturing Clusters and Electronics Development Fund etc., India’s production of electronics grew from US$ 29 billion in 2014 to US$ 70 billion in 2019. The growth in mobile phone manufacturing has been remarkable during this period. From just 2 mobile phone factories in 2014, India now has become the second largest mobile phone producer in the world.  Production of mobile handsets in 2018-19 has reached 29 crore units worth Rs 1.70 lakh crore (US$ 24.12 billion) from just 6 crore units worth Rs 19,000 crore (US$ 2.70 billion) in 2014. While the exports of electronics have increased from Rs 38,263 crore (US$ 5.43 billion) in 2014-15 to Rs 61,908 crore (US$ 8.78 billion) in 2018-19, India’s share in global electronics production has reached 3 per cent in 2018 from just 1.3 per cent in 2012. Prime Minister Narendra Modi has given a clarion call for Aatma Nirbhar Bharat – a self-reliant India.  Minister […]

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WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (25th – 31st May 2020)

June 5, 2020

Weekly Indian Economic & Commercial Report ( 25th – 31st May, 2020) Source: IBEF News Letter  Government is exploring new financial lending institutions to support small-scale units – Mr Nitin Gadkari  26.05.2020           Union Minister for MSME and Road Transport and Highways, Shri Nitin Gadkari today said that the government is exploring new financial lending institutions to support small-scale units in terms of financial support. Shri Gadkari said that government is working towards strengthening the NBFCs which will help small businesses to avail easy credit in the coming time. He was speaking at a meeting via video conferencing with the Members of Calcutta Chamber of Commerce on impact of COVID-19 on MSMEs and the measures taken to address the challenges at hand. Addressing the members, Shri Gadkari re-iterated that these are trying times as we are waging a war against COVID-19 pandemic as well as the economic instability caused by it. He requested all the stakeholders to work in tandem and urged the industry to maintain a positive attitude during this time to tide over this crisis. The Minister also stressed on usage of PPE (masks, sanitizer etc.) and advised to maintain social distancing norms in personal life and at workplaces. Apprising the representatives of recent announcement on Special Economic Package: Aatmanirbhar Bharat Abhiyan, he explained various support measures which has been announced for MSMEs such as collateral free automatic loan, distress fund etc. He said that all these measures will provide the required support to MSMEs to face the current economic challenges. The Minister also informed them that there has been restructuring of 6 lakh MSMEs till March 2020 and the Ministry is aiming to cover additional 25 lakh until December 2020. He added that the current contribution of MSMEs in export is 48 per cent, which may be increased to 60 per cent. He further shared that currently 11 crore jobs have been created through MSMEs and this to be increased to 5 crore. The Union Minister mentioned that special focus towards export enhancement is the need of the hour. He further added that there is need to reduce our cost on production, logistics etc. to become economically viable. The Minister shared that the Ministry of MSME is working on two booklets to cover details about last three year’s export and import. Some of the questions asked and the suggestions given included: issue of delayed payment needs additional thrust to ensure timely payment to MSMEs, interest subvention of 4 per cent should be looked at to provide support to MSMEs and safeguard them from becoming an NPA, how banks can be incentivized for proper implementation of proposed measure etc. Shri Gadkari responded to the questions from representatives and assured all possible help from the government. Comfortable face mask designed by CeNS could encourage public to use it for long hours 26.05.2020       A team of researchers at Centre for Nano and Soft Matter Sciences (CeNS), Bangalore, an autonomous institute of the Department of Science and Technology, have developed a cup-shaped design (patent filed) of the mask that helps to create enough space in front of the mouth […]

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WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (18th – 24th May 2020)

May 26, 2020

Weekly Indian Economic & Commercial Report (18th April – 24th May 2020) Source: IBEF News Letter  Union HRD Minister launches AI-powered mobile app for mock tests for JEE Main, NEET 2020 20.05.2020         Union Human Resource Development Minister Mr Ramesh Pokhriyal Nishank launched a new mobile app called the ‘National Test Abhyas’. The App has been developed by NTA to enable candidates to take mock tests for upcoming exams such as JEE Main, NEET under the NTA’s purview. The app has been launched to facilitate candidates’ access to high quality mock tests in the safety and comfort of their homes since there was a demand for making up the loss to students due to closure of educational institutions and NTA’s Test-Practice Centers (TPCs) due to the continuing lockdown. With this facility for the students, India has taken the lead in restoring a semblance of normalcy in one more crucial area –test preparations – even as we tackle these unprecedented times that have led to significant changes in life around the world. Students across the country can use the App to access high quality tests, free of cost, in a bid to be fully prepared for the upcoming JEE, NEET and other competitive exams. The tests can be easily downloaded. they can be completed off-line, thus economising on internet availability too. Speaking at the occasion, the HRD Minister said, “This timely launch is designed to ensure that no student is left behind in getting exposure to practice testing, especially when Student’s loss due to closure of educational institutions is to be compensated and NTA’s Test-Practice Centers are shut due to the COVID-19 lockdown.” The app will make available practice tests on smartphones or computers for all students in India irrespective of their level of access to devices and quality of network. The app also has an offline mode where students, on downloading the mock tests, can attempt the test without the internet. The app works on Android-based smartphones and tablets and can be downloaded from Google Play Store. The app will be soon available on iOS. Once students download the app, they will need to sign-up or register with some basic details, create a free account, and then start accessing mock tests free of cost for their selected examination(s). NTA plans to release one new mock test on the app every day, which students can then download and attempt offline. Once the test is completed, students can go online again to submit the test and view their test report. “It’s evident that one of the app’s major benefits is that once student downloads the test, it works perfectly even without internet connectivity, which will prove advantageous for students even in areas with low bandwidth and remove obstacles in the way of large-scale online test preparation. In addition to that, NTA has developed extensive support system at http://nta.ac.in/abhyas/help “The NTA has also instituted live support from 10 AM to midnight for the first seven days of the release to ensure that any issues experienced by student are proactively addressed”, said the HRD Minister. Over the last year, edutech as a sector has witnessed […]

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WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (11th – 17th May 2020)

May 18, 2020

Weekly Indian Economic & Commercial Report (11th April – 17th May 2020) PM gives a clarion call for Atmanirbhar Bharat; PM announces special economic package; comprehensive package of Rs 20 lakh crore 13.05.2020       Prime Minister Shri Narendra Modi addressed the nation today. Recalling those who have died battling the pandemic, Prime Minister said that the crisis that has emerged due to COVID-19 is unprecedented, but in this battle, we not only need to protect ourselves but also have to keep moving forward. Self-reliant India Talking about the pre and post COVID worlds, Prime Minister observed that in order to fulfill the dream of making the 21st century India’s, the way forward is through ensuring that the country becomes self-reliant. Talking about turning a crisis into an opportunity, he gave the example of PPE kits N-95 masks, whose production in India has gone up from almost being negligible to 2 lakh each, on daily basis. Prime Minister remarked that the definition of self-reliance has undergone a change in the globalized world and clarified that when the country talks about self-reliance, it is different from being self-centred. He said that India’s culture considers the world as one family, and progress in India is part of, and contributes to, progress in the whole world.  He noted that the world trusts that India has a lot to contribute towards the development of the entire humanity. Five pillars of a self-reliant India Recalling the devastation in Kutch after the earthquake, Prime Minister said that through determination and resolve, the area was back on its feet. A similar determination is needed to make the country self-reliant. He said that a self-reliant India will stand on five pillars viz. Economy, which brings in quantum jump and not incremental change; Infrastructure, which should become the identity of India; System, based on 21st century technology driven arrangements; Vibrant Demography, which is our source of energy for a self-reliant India; and Demand, whereby the strength of our demand and supply chain should be utilized to full capacity. He underlined the importance of strengthening all stakeholders in the supply chain to increase, as well as fulfil, the demand. Atmanirbhar Bharat Abhiyaan Prime Minister announced a special economic package and gave a clarion call for Atmanirbhar Bharat. He noted that this package, taken together with earlier announcements by the government during COVID crisis and decisions taken by RBI, is to the tune of Rs 20 lakh crore (US$ 283.73 billion), which is equivalent to almost 10 per cent of India’s GDP. He said that the package will provide a much-needed boost towards achieving ‘Atmanirbhar Bharat’. Prime Minister observed that the package will also focus on land, labour, liquidity and laws. It will cater to various sections including cottage industry, MSMEs, labourers, middle class, industries, among others. He informed that the details of the contours of the package will be provided by the Finance Minister from tomorrow, in the coming few days. Talking about the positive impact of reforms like JAM trinity and others, brought about in the last six years, Prime Minister said that several bold reforms are needed to make […]

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WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (4th – 10th May 2020)

May 12, 2020

Weekly Indian Economic & Commercial Report (4th April – 10th May 2020) Source: IBEF News Letter 430 flights operated under Lifeline Udan 04.05.2020           430 flights have been operated under Lifeline Udan by Air India, Alliance Air, IAF and private carriers. 252 of these flights have been operated by Air India and Alliance Air. Cargo transported till date is around 795.86 tons. Aerial distance covered by Lifeline Udan flights till date is over 4,21,790 km. ‘Lifeline Udan’ flights are being operated by MoCA to transport essential medical cargo to remote parts of the country to support India’s war against COVID-19. Helicopter services including Pawan Hans Ltd have been operating in J&K, Ladakh, Islands and North East region transporting critical medical cargo and patients. Pawan Hans, till 2 May 2020, have carried 2.27 tons of cargo covering a distance of 7,729 kms. Special focus has been on the North East Region, island territories and the hill states. Air India and IAF collaborated primarily for J&K, Ladakh, North-East and other island regions. Domestic Cargo Operators SpiceJet, Blue Dart, Indigo and Vistara are operating cargo flights on a commercial basis. Spicejet operated 760 cargo flights during 24 March to 2 May 2020 covering a distance of 13,09,310 kms and carrying 5,519 tons of cargo. Out of these, 279 were international cargo flights. Blue Dart operated 253 cargo flights covering a distance of 2,76,768 kms and carrying 4,364 tons of cargo during 25 March to 2 May 2020. Out of these, 12 were international cargo flights. Indigo has operated 87 cargo flights during 3 April to 2 May 2020 covering a distance of 1,43,604 kms and carrying around 423 tons of cargo and including 32 international flights. This also includes medical supplies carried free of cost for the government. Vistara has operated 20 cargo flights during 19 April to 2 May 2020 covering 28,590 km and carrying around 139 tons of cargo. A cargo air-bridge was established with East Asia for transportation of pharmaceuticals, medical equipment and Covid-19 relief material. 899 tons of medical cargo was brought in by Air India from East Asia. In addition to the above, Blue Dart has uplifted around 114 tons of medical supplies from Guangzhou and Shanghai starting 14 April upto 2 May 2020. Spicejet has also uplifted 204 tons of medical supplies from Shanghai and Guangzhou upto 2 May 2020 and 16 tons medical supplies from Hong Kong and Singapore upto 2 May 2020. India Salutes Corona Warriors Indian Navy Salutes the Corona Warriors on Land, Air and High Seas 04.05.2020         Indian Navy joined the entire nation to express gratitude and salute the Corona Warriors on Sunday 03 May 20. Expressing gratitude and appreciation of the entire nation – while representing the Indian Armed Forces – towards the determination and committed efforts of our Corona Warriors –  the medical professionals, health workers, policemen, government staff and media, for their relentless efforts against CoViD19 on 03 May 20 through a number of activities on ground, in air and on water On Land Appreciation to the Corona Warriors. Station Commanders & Senior Naval […]

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WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (27th April – 3rd May 2020)

May 8, 2020

Weekly Indian Economic & Commercial Report (27th April – 3rd May 2020) Source: IBEF News Letter  Team led by IIT Bombay student develops low-cost mechanical ventilator Ruhdaar 27.04.2020 The Government has said that “the COVID-19 infection curve has begun to flatten and that the outbreak is under control”. According to the Health Ministry, among those getting infected, around 80 per cent will experience only mild illness, around 15 per cent will need oxygen support and the remaining 5 per cent who get critical or severe will need ventilators. Ventilators are thus an important component of the medical infrastructure required for treating infected patients, providing critical breathing support to those falling critically ill. Considering this, the government has been adopting a two-pronged approach, augmenting domestic manufacturing capacity as well as scouting across the world for medical supplies. Accordingly, as per the update given to the Group of Ministers meeting held on April 25, 2020, production of ventilators by domestic manufacturers has already started and orders for more than 59,000 units through nine manufacturers have been placed. In this context, it is heartening that the Indian inventive and creative spirit has been reaping good fruit in this crisis situation. The entire scientific community, including CSIR and its 30-plus labs, institutes such as IITs and many from the private sector and civil society, have come up with various solutions, each of which contributes in some measure to our battle against the pandemic. A team of engineering students from IIT Bombay, NIT Srinagar and Islamic University of Science & Technology (IUST), Awantipora, Pulwama, Jammu and Kashmir is one such group of creative individuals who have come forward to solve the problem of ventilator requirement. The team has come up with a low-cost ventilator using locally available materials. Here is how the Ruhdaar ventilator, as the team has named it, took birth. The project head Zulqarnain, a first-year student of Industrial Design Centre, IIT Bombay, had gone to his hometown Kashmir, when the institute closed due to the pandemic. On getting to know the ground situation as the pandemic progressed, he understood that there were only 97 ventilators in the Kashmir Valley. He sensed that the need was more and that the concern about shortage of ventilators had become a big worry for many people. So, Zulqarnain teamed up with his friends P. S Shoib, Asif Shah and Shakar Nehvi from IUST, Awantipora and Majid Koul from NIT Srinagar. Taking assistance from the Design Innovation Centre (DIC) at IUST, the team has been able to design a low-cost ventilator using locally available materials. While their initial aim was to replicate a tried and tested design, as they began to work on it, they developed their own design of the ventilator. Zulqarnain says “the prototype costed the team around Rs 10,000 (US$ 141.86) and that the cost will be much lower, when we go for mass production.” He said that while high-end ventilators used in hospitals cost in lakhs of rupees, “Ruhdaar provides necessary functionalities which can provide adequate breathing support necessary to save the life of a critically ill COVID-19 patient.” Talking about next steps, Zulqarnain said “the team […]

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WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (20th – 26th April 2020)

May 1, 2020

Weekly Indian Economic & Commercial Report (20th – 26th April 2020) Source: IBEF News Letter  Strengthening the fight against Covid-19, Lifeline Udan flights cover 2,87,061 km 20.04.2020 288 flights have been operated under Lifeline Udan by Air India, Alliance Air, IAF and private carriers. 180 of these flights have been operated by Air India and Alliance Air. Cargo transported till date is around 479.55 tons.  Aerial distance covered by Lifeline Udan flights till date is over 2,87,061 km. ‘Lifeline Udan’ flights are being operated by MoCA to transport essential medical cargo to remote parts of the country to support India’s war against COVID-19. Pawan Hans helicopters have carried 1.86 tons of cargo covering a distance of 6265 kms till 18 April 2020.  Helicopter services including Pawan Hans Ltd have been operating in J&K, Ladakh, Islands and North East region transporting critical medical cargo and patients. The domestic Lifeline Udan cargo includes COVID-19 related reagents, enzymes, medical equipment, testing kits, Personal protective equipment (PPE), masks, gloves, other materials of HLL and ICMR; cargo requisitioned by State/UT Governments and postal packets etc. Special focus has been on the North East Region, island territories and the hill states. Air India and IAF collaborated primarily for J&K, Ladakh, North-East and other island regions. Domestic Cargo Operators SpiceJet, Blue Dart and Indigo are operating cargo flights on a commercial basis. Spicejet operated 410 cargo flights during 24 March to 18 April 2020 covering a distance of 6,00,261 km and carrying 3270 tons of cargo. Out of these 128 were international cargo flights. Blue Dart operated 141 domestic cargo flights covering a distance of 1,39,179 km and carrying 2241 tons of cargo during 25 March to 18 April 2020. Indigo has operated 31 cargo flights during 3-18 April 2020 covering a distance of 32,290 km and carrying around 48 tons of cargo.  This also includes medical supplies carried free of cost for the government. International Sector- The date-wise quantity of medical cargo brought in after cargo air-bridge was established with East Asia for transportation of pharmaceuticals, medical equipment and Covid-19 relief material, is as follows: S No Date From Quantity (Tons) 1 04.4.2020 Shanghai 21 2 07.4.2020 Hong Kong 6 3 09.4.2020 Shanghai 22 4 10.4.2020 Shanghai 18 5 11.4.2020 Shanghai 18 6 12.4.2020 Shanghai 24 7 14.4.2020 Hong Kong 11 8 14.4.2020 Shanghai 22 9 16.4.2020 Shanghai 22 10 16.4.2020 Hong Kong 17 11 16.4.2020 Seoul 5 12 17.4.2020 Shanghai 21 13 18.4.2020 Shanghai 17 14 18.4.2020 Seoul 14 15 18.4.2020 Guangzhou 4 Total 242 Within South Asia, Air India transported around 9 tons of supplies on 7 April 2020 and tonnes on 8 April 2020 to Colombo. Air India operated two flights between Mumbai- Frankfurt and Mumbai- London last week under the Krishi Udan program, carrying seasonal fruits and vegetables from Mumbai and returning with general cargo. Air India operated another flight on 15 April 2020 between Delhi-Seychelles-Mauritius-Delhi, carrying medical supplies. IIA scientists connect Lithium abundance in interstellar space to new Lithium rich red giants 20.04.2020 Researchers at the Indian Institute of Astrophysics (IIA), an autonomous institute under the Department of Science &Technology, Govt. of India, have discovered hundreds of Li-rich giant stars indicating that Li is being […]

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WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (13th – 19th April 2020)

April 27, 2020

Weekly Indian Economic & Commercial Report (13th – 19th April 2020) Source: IBEF News Letter Medical cargo flights under Operation Lifeline UDAN transport 108 tons of essential supplies for the nation in a single day 13.04.2020 Over 214 Lifeline Udan flights have been operated by MoCA to transport essential medical cargo to remote parts of the country to support India’s war against COVID-19. 128 of these flights have been operated by Air India and Alliance Air. Cargo transported till date is around 373.23 tons. Smt Usha Padhee, JS, MoCA said that the aerial distance covered by Lifeline Udan flights till date is over 1,99,784 km. The Cargo load carried on 11th April 2020 was 108 Tons. The Ministry of Civil Aviation and the aviation industry is determined to support India’s war against COVID-19 by transporting medical air-cargo within India and abroad in the most efficient and cost-effective manner. Special focus has been on the North East Region, island territories and the hill states. Air India and IAF collaborated primarily for J&K, Ladakh, North-East and other island regions. Bulk of the cargo comprises light-weight and voluminous products like masks, gloves and other consumables, that consume relatively larger storage space on the aircraft. Special permission has been taken to store cargo in the passenger seating area and overhead cabins, with due precautions. Public information related to Lifeline Udan flights is updated daily on the portal at https://esahaj.gov.inlifeline_udan/public_info. that was developed by National Informatics Centre (NIC) and MoCA in a record span of three days to enable seamless coordination between various stakeholders. Domestic Cargo Operators Spice Jet, Blue Dart and Indigo are operating cargo flights on a commercial basis. Spice jet operated 286 cargo flights covering a distance of 4,01,290 km and carrying 2334.51 tons of cargo. Out of these 87 were international cargo flights. Blue Dart operated 94 domestic cargo flights covering a distance of 92,075 km and carrying 1479 tons of cargo. Indigo has operated 25 cargo flights covering a distance of 21,906 km and carrying around 21.77 tons of cargo. This also includes medical supplies carried free of cost for the government. Date No. of Flights Tonnage Kilometres 11-04-2020 9 40.36 7271 International cargo by Spicejet Date No. of Flights Tonnage Kilometres 11-04-2020 11 103.35 21,100 Blue Dart cargo uplift Date No. of Flights Tonnage Kilometres 11-04-2020 8 145 7,856 Indigo cargo uplift Date No. of Flights Tonnage Kilometres 11-04-2020 6 15.66 4,829 (Note – Indigo’s Tonnage also includes Govt. cargo consisting of medical supplies carried on Free of Cost (FOC) basis.) International Sector An air-bridge has been established with effect from 4 April 2020 for transportation of pharmaceuticals, medical equipment and Covid-19 relief material. The date-wise quantity of medical cargo brought in as follows: S No Date From Quantity (Tons) 1 04.4.2020 Shanghai 21 2 07.4.2020 Hong Kong 6 3 09.4.2020 Shanghai 22 4 10.4.2020 Shanghai 18 5 11.4.2020 Shanghai 18 Total 85 Within South Asia, Air India transported around 9 tons of supplies on 7 April 2020 and 4 tonnes on 8 April 2020 to Colombo. Air India will operate dedicated scheduled cargo flights to other countries for transfer of critical medical supplies, as […]

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WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (6th – 12th April 2020)

April 27, 2020

Weekly Indian Economic & Commercial Report (6th – 12th April 2020) Source: IBEF News Letter Rapid diagnostic kit being developed by Pune based startup for COVID 19 screening 09.04.2020 FastSense Diagnostics, a start-up incorporated in 2018, developing innovative products for rapid disease diagnosis, funded by the Department of Science and Technology (DST) is now developing two modules for detection of COVID 19. “The major challenges of testing for COVID-19 are speed, cost, accuracy and accessibility at the point-of-care or use. Several startups have developed rather creative and innovative ways to address these needs. DST is supporting the most promising of these to facilitate their development to commercialization chain if found suitable on technical grounds” said Professor Ashutosh Sharma, Secretary, DST. In the lines of their existing universal platform “Omni-Sens” for early detection and screening of complex diseases i.e. cancers, liver ailments and neonatal sepsis etc., the company has proposed a technology CovE-Sens specifically for COVID 19. A patent has been filed for CovE-Sens which would provide a rapid, point of care detection along with screening and confirmatory test as well with ease of operation. The company plans to roll out two products — a modified Polymerase chain reaction (PCR) based detection kit for confirmatory analysis in lesser time compared to existing detection methods (approximately 50 samples can be tested in an hour) and a portable chip based module for rapid screening of target population based on the on-chip sensing technology that would provide on the spot results in less than 15 min per sample. The sample size for confirmatory tests can also be increased in the future to 100 samples/ hour. The point of care detection kits of FastSense Diagnostics that can provide on the spot detection rapidly and without highly trained technicians could boost India’s testing efforts in the fight against COVD 19. The two proposed modules can be deployed at any real locations and hotspots like airports, densely populated areas, hospitals where screening of population can be done to prevent corona spread to healthy individuals and data can be generated with ease in less than an hour. The company is working on the cost to make it more affordable. The team is also planning to collaborate with National Institute of Virology for which the formal approval is under process for performance evaluation and they are in touch with existing market players for scaling up and large-scale deployment of the device. The team working on this comprises experts in virology, molecular biology and bioinstrumentation that can deliver the prototype in 8 to 10 weeks. The company also has few in-house facilities to scale up the production for deployment. Besides, preventing further spread of the disease during the current pandemic, the portable rapid diagnostics kit can also prevent future relapse by regular monitoring. The low cost and ease of operation can make help reach out to the rural population and prevent overloading of urban health infrastructure. CSIR-Central Electrochemical Research Institute (CSIR-CECRI) working with Industry to Scale up Personal Protective Equipment 09.04.2020 Under the present COVID-19 pandemic situation, in line with CSIR’s special efforts, its constituent lab CSIR-CECRI (Central Electrochemical Research Institute) at Karaikudi, […]

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WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (30th March – 5th April 2020)

April 24, 2020

Weekly Indian Economic & Commercial Report (30th March – 5th April 2020) Source: IBEF News Letter Dr. Harsh Vardhan launches National Teleconsultation Centre (CoNTeC) 30.03.2020 The Union Minister of Health & Family Welfare Dr Harsh Vardhan launched the National Teleconsultation Centre (CoNTeC) today and also interacted with Nodal Officers of Medical Colleges of States and other AIIMS of the country and reviewed the COVID-19 preparedness. The project CoNTeC, an acronym for COVID-19 National Teleconsultation Centre, has been conceptualised by the Ministry of Health & Family Welfare and has been implemented by the All India Institute of Medical Sciences, New Delhi. On the occasion Dr Harsh Vardhan said that CoNTeChas been made operational at AIIMS with a view to connect the Doctors across the country to AIIMS in real time for treatment of the COVID-19 patients. He further informed that the Doctors would be available in the facility 24X7 and to keep it operational 24 hrs. The boarding and lodging facility is also made available for the Doctors manning it. He said that it has been set up in the AIIMS so that the small states should also make use of the vast experience of the Doctors at AIIMS. He informed that the doctors world over are using different protocols to treat COVID-19 patients and the goal of the facility is to at least connect the doctors in the country together to discuss amongst themselves the protocols undertaken and provide the best treatment accordingly. He further informed that the telemedicine guidelines have also been notified by the Government of India and with the help of digital platform and technology, the public at large will get the benefit not only for COVID- 19 but other diseases also. He said the ultimate purpose of starting this facility at prestigious All India Institute of Medical Sciences is to take the best possible treatment to the poorest of the poor of the country. He added that India is a vast country and technology can play a pivotal role for the medical assistance to reach the poor. The poor patients in the country should not be deprived of the quality treatment in any circumstances. With the present facility, the poor would be able to get benefit of consultation form the topmost doctors of the country. He added, “Right now the scenario is evolving world over and the present facility would be strengthened accordingly from time to time to meet the challenges.” He said that there are plans to extend the facility overseas also. He said that continuing forward, all the medical colleges and AIIMS need to be connected together so that they can interact and help in the policy implementation for the country in the health sector. He further said that AIIMSs should become hub of activity for the district hospitals to connect with them for consultation, telemedicine, education, training, interaction and exchange of protocols between themselves. Dr. Harsh Vardhan also attended a test call at the facility to check the effectiveness of the system. The CoNTeC is a Telemedicine Hub established by AIIMS, New Delhi, wherein expert doctors from various clinical domains will be available 24×7 to answer the multifaceted questionsfrom specialists from all over the country. It is a multi-modal telecommunications hub through which […]

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