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Category: India

  • MIL-OSI Global: Could Trump be leading the world into recession?

    Source: The Conversation – UK – By Steve Schifferes, Honorary Research Fellow, City Political Economy Research Centre, City St George’s, University of London

    Carolyn Franks/Shutterstock

    Growth forecasts for the US and other advanced economies have been sharply downgraded by the International Monetary Fund (IMF) in the wake of dramatic swings in US president Donald Trump’s economic policy. But could the uncertainty and the turmoil in financial markets eventually be enough to push the world into a recession?

    The IMF says that global growth has already been hit by the decline in business and consumer confidence as “major policy shifts” by the US unfold. These are leading to less spending and less investment.

    It also predicts further damage from the disruption in global supply chains and inflation caused by tariff increases.

    But while the IMF forecasts a sharp reduction in world economic growth in 2025 and 2026, it is not projecting a recession – for now. However, it says the chances of a global recession have risen sharply from 17% to 30%. And there is now a 40% chance of a recession in the US.

    The head of the IMF, Kristalina Georgieva, has blamed the slowdown on the ongoing “reboot of the global trading system” by the US. She said this is leading to downgrades in growth estimates, while volatility in financial markets is “up” and trade policy uncertainty is “literally off the charts”.

    As part of the IMF forecasts, growth projections for the world’s richest countries in 2025 have been sharply reduced. In the US it is down 0.5% to just 1.8%, while growth in the euro area is projected to be just 0.8%. Japan will be growing by even less at 0.6%. Germany – the EU’s largest economy – is projected to have no growth at all.

    And for the UK, growth has been cut by 0.5%, to a very weak 1.1%, which is in line with forecasts from March. This is well below the 2% projected at the time of the last budget in the autumn. And despite the adjustments made in the UK’s spring statement, the downgrade is likely to mean more tax increases, spending cuts, or both.

    Some developing countries are doing much better, with India projected to have one of the highest annual GDP growth rates at 6.2% in 2025. Meanwhile, China’s growth forecast has been cut sharply due to the effect of US tariffs. It is now projected by the IMF to be down by 1.3% to just 4%.

    Other poorer developing countries will also be negatively affected, but most will continue to grow at a faster pace than major industrial nations.

    What the forecast underscores is that the era of rapid globalisation, spurred by trade and integration of financial markets, seems to be coming to an end.

    Its rapid spread since the 1950s, which accelerated in the 1980s, led to a huge expansion of the world economy. But it created winners and losers, both between nations and within them.

    The Trump administration’s answer to this is massive tariff increases
    hitting countries that stand accused of “ripping off America”. The tariffs have several contradictory objectives, including raising money pay for tax cuts; acting as a bargaining chip to open foreign markets to American goods; and encouraging manufacturers to relocate to the US.

    Trump has swung between these objectives, and backed down when market reaction became too fierce. These swings have destabilised trade and investment, as well as business and consumer confidence.



    Read more:
    Trump has shown he will backtrack on tariffs. What does that say about how to wage a trade war?

    Tariffs do not change the fact that many countries can produce the goods Americans want, more cheaply and often more efficiently. And the looming trade war could mean US exporters are hit with retaliatory tariffs, making it even harder to sell American goods abroad.

    The inflationary effect of tariffs – raising the price of imported goods – could reverse the recent successes of central banks in taming inflation. It could even force them to raise interest rates – something Trump is fiercely against.

    A more immediate effect of Trump’s erratic policy-making has been turmoil in financial markets. The US stock market has fallen sharply since Trump announced his tariff plan, currently down by nearly 15% (a loss of more than US$4 trillion (£2.99 trillion) for shareholders).

    This matters for the US economy, as most Americans depend on their stock market holdings to pay for their defined-contribution pensions. But even more worrying is the effect on the US Treasury bond market, which has been a safe haven in times of trouble. Foreign investors are now shunning US bonds, driving up interest rates for US government debt and unsettling financial institutions.

    Added to the problem is the sharp drop in the value of the US dollar. Trump says he wants a weaker dollar, presumably to make US exports cheaper. But it also raises the price of imported goods and could fuel inflation. Ultimately, it could threaten the role of the US dollar as the world’s reserve currency.

    Potentially, big swings in normally steady financial markets can presage some of the same wobbles that led to the global financial crisis of 2008. That crisis threatened the solvency of the global financial system – although we have not reached that point yet.

    Winners and losers

    So what is the most likely outcome of the trade war, and the loss of a single hegemonic economic power? One example is what happened when Britain lost its dominant role in manufacturing and finance after the first world war.

    Attempts at rebuilding a global economic order failed, and other major countries (led by Germany and the US) reverted to autarky, stepping back from the international trading system and worsening the Depression of the 1930s.

    Just as Trump is trying to do, countries reverted to competitive devaluations. Each tried to make its exports cheaper than those of its rivals, ultimately to no avail. The world was divided into rival trading blocs, and it is conceivable that the US, the EU and China could form three such blocs in future.

    The last financial crisis, in 2008, was mitigated by prompt and cooperative action
    by central banks and governments. They injected trillions to stabilise the financial sector, but even now the damaging effects of this crisis on national growth rates is plain to see.

    The IMF has made it clear that it is not just the detail of the tariffs, but erratic US economic policy, that is the main culprit for the potential recession. The rising cost of servicing US debt as investors lose confidence is also raising the cost of the large public debts of other advanced economies, including the UK. This puts more pressure on public spending.

    Let’s hope that whatever the turmoil, we will not be repeating the mistakes of the past.

    Steve Schifferes does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Could Trump be leading the world into recession? – https://theconversation.com/could-trump-be-leading-the-world-into-recession-255081

    MIL OSI – Global Reports –

    April 24, 2025

  • MIL-OSI Africa: SA extends condolences to India following Pahalgam terror attack

    Source: South Africa News Agency

    Wednesday, April 23, 2025

    The South African Government, through the Department of International Relations and Cooperation, has expressed deep sadness over the attack on tourists in India.

    According to reports, Indian security forces are currently searching for the gunmen responsible for the attack on tourists in Pahalgam, located in Indian-administered Kashmir, which resulted in 26 deaths, all of whom were men.

    This was after gunmen emerged from the forests and opened fire on visitors with automatic weapons near the scenic tourist town, according to media reports. 

    “Our thoughts and prayers go out to the families and loved ones of those who have lost their lives and to all those who have been injured in this horrific incident,” the department’s statement read. 

    “The South African Government believes that acts of violence and extremism have no place in society and constitute a threat to peace, security and development.” 

    The department reiterated its condemnation of terrorist attacks in any form and from any source. 

    “The South African Government extends its condolences to the Government and people of India.”

    The Prime Minister of India, Narendra Modi, who is said to have cut short a state visit to Saudi Arabia, strongly condemned the terror attack in Pahalgam, Jammu and Kashmir. 

    He sent his condolences to those who have lost their loved ones. 

    “I pray that the injured recover at the earliest. All possible assistance is being provided to those affected. 

    “Those behind this heinous act will be brought to justice…they will not be spared. Their evil agenda will never succeed. Our resolve to fight terrorism is unshakable and it will get even stronger,” he wrote on X, formerly known as Twitter. – SAnews.gov.za

    Share this post:

    MIL OSI Africa –

    April 24, 2025

  • MIL-OSI Africa: VAT hikes can raise tax without hurting the poor: an economist sets out the evidence

    Source: The Conversation – Africa – By Imraan Valodia, Pro Vice-Chancellor, Climate, Sustainability and Inequality and Director, Southern Centre for Inequality Studies, University of the Witwatersrand

    South Africa’s 2025-6 budget has been subjected to more comment than usual. This is due to the political tensions generated by a proposed increase in value added tax (VAT).

    South Africa’s choices on how it manages the revenue and expenditure issues in the budget are critical for how the larger issues of the country’s debt and its economic policies are handled. As things stand, the economy is locked into a low-growth trajectory which make the debt, revenue and expenditure issues more difficult to deal with.

    This piece draws on a longer article which explores these issues in greater detail. Here, I focus only on the VAT issue.

    The finance minister originally tabled an increase of 2 percentage points, then changed it to 0.5 percentage points. Still, it is threatening to end the country’s government of national unity, which was set up after elections in 2024.

    Read more: South Africa’s finance minister wanted to raise VAT: the pros and cons of a tricky tax

    Most commentators, including the political parties that have opposed the proposal, many academics, and non-governmental organisations claiming to represent low-income groups, have argued that an increase in VAT places an undue burden on low-income groups. This would make it regressive.

    Based on work as an academic economist over the past three decades, I believe that the debate has been based largely on conjecture and ideological opposition to VAT, rather than on the evidence of its impact.

    This is a pity as there is empirical evidence rooted in research that a VAT increase is, in fact, not regressive and is therefore a good policy decision.

    Tax experts usually refer to the three Es in taxes – equity, efficiency and ease of administration – for evaluating tax policy proposals. New taxes should ideally promote equity (they should be progressive and not regressive), be efficient and be easy to administer.

    An increase in VAT in South Africa ticks all these boxes.

    First, contrary to what many commentators have been arguing, VAT isn’t always regressive – it depends on how it’s implemented. As proposed by the finance minister it would not be regressive because, while it would add to the burden of low-income households, most of the VAT would be collected from higher-income households. Added to this is that the proposed expansion of the existing list of zero-rated items would protect the lowest-income households.

    Second, VAT is a very efficient tax. For relatively low increases in the rate, government is able to raise a large amount of revenue.

    Finally, the system is easy to administer and adds very little cost to collection.

    Key to its efficacy is the way VAT is implemented, including the choice of products to zero rate, and the political credibility of government.

    The case for a VAT increase

    VAT is a consumption tax, so it only affects the income that a household consumes.

    According to the International Monetary Fund (IMF), VAT is now the mainstay of tax systems in over 160 countries, raising on average one-third of total government revenues.

    In theory, there are good reasons to be concerned about the impact of VAT. First, it can place a high burden on low-income households because they spend a large proportion of their incomes on consumption goods such as food.

    Second, VAT may also place a heavy burden of tax on women. In South Africa and many other countries, women-led households tend to be clustered in the lower end of the income distribution. And women disproportionately take responsibility for feeding and caring for family members.

    So, at least in theory, VAT is a regressive tax. But is it really so in practice?

    Three studies that have explored this issue in some detail have concluded that, in South Africa, VAT is not regressive.

    In 2008, I worked with colleagues in eight countries (South Africa, Ghana, Uganda, Morocco, Mexico, Argentina, India and the United Kingdom) on the gender issues related to tax. In particular we looked at the burden of VAT on low-income and women-headed households.

    Our findings were that, in general, VAT is regressive and discriminates against women, but it depends on how it is implemented.

    In South Africa, the zero-rating of basic consumption goods is very effective, protecting low-income and female-headed households from VAT. It’s an example of a VAT system that is neutral – neither regressive nor progressive.

    A more recent study by South African economist Ingrid Woolard and colleagues reached a similar conclusion in 2018.

    A third study was done in the same year when VAT was increased from 14% to 15%. Following a similar emotive debate, the finance minister appointed an independent committee which I served on and which was chaired by Woolard, to advise on further zero-rating.

    Our conclusion – again – was that zero-rating is highly effective at protecting low-income groups from the deleterious effects of VAT.

    How it’s done matters

    The challenge with zero-rating is that while low-income households benefit, high-income households benefit more (because they spend more, in absolute terms, on zero-rated goods). Large amounts of potential VAT revenue are lost to high-income groups that don’t need protection.

    The trick is to find a basket of goods that low-income households consume a lot of, but which high-income households don’t consume in large quantities. Some typical examples are beans, canned pilchards and cabbage. These are all goods that low-income households consume and high-income households do not.

    National Treasury’s proposals for increasing the basket of goods to be zero-rated are based on solid research.

    A good example of the trade-offs to consider is the case of chicken. Chicken is an important source of protein for low-income households, but also for high-income households. So, if all chicken were zero-rated, this would protect poor households, but a large amount of VAT revenue would be lost.

    In our 2018 zero-rating report, at 2018 prices and consumption patterns, we calculated that zero-rating all chicken products would be equivalent to R1.3 billion (US$67.6 million) but government would lose R4.6 billion (US$244.4 million) to high income households.

    Not a good trade-off.

    However, some chicken products, such as chicken heads and feet, are mostly consumed by low-income groups, and are therefore good candidates for zero-rating.

    The two other Es – efficiency and ease of administration – of taxes are also key to consider.

    On these two considerations, VAT has big advantages.

    It’s very difficult to avoid or evade VAT because it’s collected along the chain of production. There’s evidence that South Africa has very little leakage in the system.

    So it is relatively easy to increase the VAT rate without needing to invest additional resources to collect the tax.

    Credibility is key

    Apart from the economic considerations, tax policy has to be politically credible. People should believe that their tax contributions are being used effectively, and government should be seen to be acting in line with this.

    If people don’t believe in government’s ability to spend wisely, resistance to taxes increases. Then tax avoidance and evasion increases.

    It would be fair to say that, with the high levels of corruption in South Africa’s political system, government’s credibility is low.

    Thus, if VAT is to be increased, government has to do a lot more to improve its credibility and reassure South Africans that the tax revenues will be well spent.

    – VAT hikes can raise tax without hurting the poor: an economist sets out the evidence
    – https://theconversation.com/vat-hikes-can-raise-tax-without-hurting-the-poor-an-economist-sets-out-the-evidence-254213

    MIL OSI Africa –

    April 24, 2025

  • MIL-OSI: EY US Unveils Balaji Sreenivasan of Aurigo Software as an Entrepreneur Of The Year® 2025 Finalist

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, April 23, 2025 (GLOBE NEWSWIRE) — Ernst & Young LLP (EY US) announced the finalists for the prestigious Entrepreneur Of The Year® 2025 Gulf South Award. Now in its 40th year, the Entrepreneur Of The Year program celebrates the bold leaders who disrupt markets through the world’s most groundbreaking companies, revolutionizing industries and making a profound impact on communities. The program honors bold entrepreneurs whose innovations shape the future and pave the way for a thriving economy and a hopeful tomorrow.

    The Gulf South program celebrates entrepreneurs from Central and South Texas, Louisiana, and Mississippi. An independent panel of judges selected Balaji Sreenivasan for his entrepreneurial spirit, purpose, growth, and lasting impact in building long-term value.

    “Building Aurigo has been one of the greatest joys of my life. Entrepreneurship, to me, is about solving meaningful problems and creating something that lasts. We’re building AI-powered software that’s transforming how the world plans and delivers infrastructure, and I’m grateful every day to work with such a brilliant, passionate team. This recognition is really a reflection of our team and what we’ve built together.”

    — Balaji Sreenivasan, Founder and CEO, Aurigo Software Technologies Inc.

    Aurigo Software is a leading AI-powered software company that helps infrastructure and facility owners around the world plan and build better. With a vision to build a better tomorrow, Aurigo’s platform supports some of the largest capital improvement and infrastructure programs globally, transforming how critical assets are managed, delivered, and optimized.

    Entrepreneur Of The Year honors business leaders for their ingenuity, courage, and entrepreneurial spirit. The program celebrates original founders who bootstrapped their business from inception or who raised outside capital to grow their company; transformational CEOs who infused innovation into an existing organization to catapult its trajectory; and multigenerational family business leaders who reimagined a legacy business model to strengthen it for the future.

    Regional award winners will be announced on June 12 during a special celebration in Houston and will become lifetime members of an esteemed community of Entrepreneur Of The Year alumni from around the world. The winners will then be considered by the National judges for the Entrepreneur Of The Year National Awards, which will be presented in November at the annual Strategic Growth Forum®, one of the nation’s most prestigious gatherings of high-growth, market-leading companies.

    Sponsors
    Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards include presenting sponsors PNC Bank, Cresa, LLC, Marsh McLennan Agency, and SAP. In the Gulf South, sponsors also include Platinum sponsors ADP, DFIN, DLA Piper, and VCFO and Silver sponsors Big Picture and Pierpont Communications.

    About Entrepreneur Of The Year
    Founded in 1986, Entrepreneur Of The Year has celebrated more than 11,000 ambitious visionaries who are leading successful, dynamic businesses in the US, and it has since expanded to nearly 60 countries globally.

    The US program consists of 17 regional programs whose panels of independent judges select the regional award winners every June. Those winners compete for national recognition at the Strategic Growth Forum® in November, where National finalists and award winners are announced. The overall National winner represents the US at the EY World Entrepreneur Of The Year™ competition. Visit www.ey.com/us/eoy.

    About EY
    EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.

    Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

    EY teams work across a full spectrum of services in assurance, consulting, tax, strategy, and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network, and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

    All in to shape the future with confidence.

    EY refers to the global organization, and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit www.ey.com.

    About Aurigo Software
    Aurigo builds software that helps build the world. Aurigo provides modern, cloud-based solutions for capital infrastructure and private owners to help them plan with confidence and build with quality. With more than $450 billion of capital programs under management, Aurigo’s solutions are trusted by over 300 customers in transportation, water and utilities, healthcare, higher education, and the government, with over 40,000 projects across North America. Aurigo helps capital program executives make better decisions based on proprietary artificial intelligence and machine learning technology. Aurigo is a privately held U.S. corporation headquartered in Austin, Texas, with global offices in Canada and India. Learn more at www.aurigo.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/be9703fc-711e-48cb-a5d5-8ea80e2a73de

    The MIL Network –

    April 24, 2025

  • MIL-OSI Economics: Exports through warehouses in ‘Bharat Mart’ in UAE – relaxations

    Source: Reserve Bank of India

    RBI/2025-26/30
    A.P. (DIR Series) Circular No. 03

    April 23, 2025

    To,

    All Authorised Dealer Category-I banks

    Madam / Sir,

    Exports through warehouses in ‘Bharat Mart’ in UAE – relaxations

    Attention of Authorised Dealer Category – I banks (AD banks) is invited to Clause (a) of Sub regulation 1 of Regulation 9 of Foreign Exchange Management (Export of Goods & Services) Regulations, 2015 {Notification No. FEMA 23(R)/2015-RB} and Para C.6 and C.13 of Master Direction – Export of Goods & Services.

    2. To facilitate export through warehouses in ‘Bharat Mart’, a multimodal logistics network based marketplace in United Arab Emirates (UAE) that will provide Indian traders, exporters, and manufacturers access to the markets in UAE as well as worldwide, it has been decided to provide the following relaxations:

    a) AD banks may allow exporters to realise and repatriate full export value of goods exported to ‘Bharat Mart’ within nine months from the date of sale of the goods from the warehouse.

    b) AD banks may allow the following without any pre-conditions, after verifying the reasonableness of the same:

    1. Opening/hiring of a warehouse in ‘Bharat Mart’ by an Indian exporter with a valid Importer Exporter Code.

    2. Remittances by the Indian exporter for initial as well as recurring expenses for setup and continuing business operations of its offices.

    3. The above instructions shall come into force with immediate effect. AD Category-I banks may bring the contents of this circular to the notice of their constituents concerned.

    4. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

    Yours faithfully,

    (N. Senthil Kumar)
    Chief General Manager

    MIL OSI Economics –

    April 24, 2025

  • MIL-OSI: EquityZen Announces Key Executive Promotions: Brian Griffith to Chief Business Officer and Sudesh Kulkarni to Chief Product Officer

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 23, 2025 (GLOBE NEWSWIRE) — EquityZen, a leading marketplace for buying and selling private company equity, today announced the promotions of Brian Griffith to Chief Business Officer and Sudesh Kulkarni to Chief Product Officer. These appointments come as EquityZen continues to expand its platform and reach in the private market. 

    In his new Chief Business Officer role, Griffith will focus on driving growth, operational efficiency, and data-driven decision making. He will spearhead efforts across go-to-market, technology, and operations to expand EquityZen’s marketplace and provide more investors access to pre-IPO investments and more shareholders access to company-approved liquidity.

    Griffith joined EquityZen in 2019 as Chief of Staff and during his tenure has overseen the finance, sales, and marketing functions. He spent four years as EquityZen’s Head of Business Operations before being promoted to Chief Business Officer. Notably, he has contributed to EquityZen closing over 45,000 private market transactions in more than 450 companies since 2013 and enabling crucial scale across the organization. Prior to EquityZen, Griffith spent 10 years at KPMG, where he helped build and scale KPMG’s Private Enterprise practice. Griffith holds an MBA from the Kellogg School of Management at Northwestern University and a Bachelor’s degree from the University of Illinois.

    “I am excited to take on this new role at EquityZen,” said Griffith. “I believe that EquityZen has a unique opportunity to democratize access to the private markets, and I am committed to helping the company achieve its full potential.”

    Sudesh Kulkarni has been promoted to Chief Product Officer and will continue to oversee the firm’s product and technology functions. Kulkarni joined EquityZen in August 2022 as Vice President of Product. 

    Prior to joining EquityZen, Kulkarni held leadership positions in product and technology at Capitolis, Intercontinental Exchange and Wells Fargo. Sudesh holds a Bachelor’s degree in Engineering from the University of Pune, India, and a Master’s degree in Finance from the Illinois Institute of Technology, Chicago. He has earned Fintech and Product certifications from UC Berkeley Haas, Project Management Institute, and Product School. 

    Since joining EquityZen, Kulkarni has led the transformation of the product organization with his steadfast leadership and deep expertise in financial technology. He has brought strategic direction and has improved platform functionality and customer experience, while simultaneously enhancing operational productivity.

    “As private markets continue their unprecedented growth trajectory, I am energized to build upon the strong foundation we’ve established at EquityZen,” said Kulkarni. “Customer-centricity remains the cornerstone of our product and technology strategy as we look to thoughtfully and responsibly integrate emerging technologies, particularly AI, to deliver meaningful improvements to the digital experiences our customers rely upon.”

    “Brian and Sudesh are both proven leaders with cross-functional experience and deep expertise in their respective fields. They have brought perspective and leadership to our company as we continue to build a more accessible, efficient, and transparent platform,” said Atish Davda, CEO of EquityZen. “Their contributions have been invaluable to EquityZen’s success and are especially important as private market investments continue to grow in significance in the average investors’ portfolio.”

    About EquityZen

    Since 2013, the EquityZen marketplace has enabled the buying and selling of shares in private companies. EquityZen brings together over 700,000 investors and shareholders, providing liquidity to early shareholders and private market access to accredited investors for as little as $5,000 up to well over $5 million. Having completed more than 45,000 private placements in more than 450 private companies, EquityZen leads the way in delivering “Private Markets for the Public”.

    Media Contact
    Deborah Kostroun, Zito Partners
    deborah@zitopartners.com
    +1 (201) 403-8185

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3dea3ccf-6886-4c10-8567-4c50eec20af2

    The MIL Network –

    April 24, 2025

  • MIL-OSI Economics: Primary (Urban) Co-operative Banks’ Outlook 2023-24

    Source: Reserve Bank of India

    The Reserve Bank of India today herewith releases the 11th volume of the annual publication titled ‘Primary (Urban) Co-operative Banks’ Outlook 2023-24’. It can be accessed at https://data.rbi.org.in/#/dbie/reports/Publication/Time-Series%20Publications/Primary%20%28Urban%29%20Co-operative%20Banks’%20Outlook. The publication has been brought out by the ‘Department of Supervision’ of the Reserve Bank of India.

    The publication covers the financial accounts of Scheduled and Non-Scheduled Primary (Urban) Co-operative Banks for the financial year 2023-24. The publication provides aggregate information on major items of balance sheet, profit and loss account, non-performing assets, financial ratios, state-wise distribution of offices and details of priority sector advances. Besides, the publication also provides bank-wise information of Scheduled Primary (Urban) Co-operative Banks on balance sheet items, select financial ratios on Capital Adequacy, Profitability, and Employee Productivity. The publication is being brought out in only electronic form on an annual basis on the Reserve Bank’s website through the link https://data.rbi.org.in/#/dbie/reports/Publication/Time-Series%20Publications/Primary%20%28Urban%29%20Co-operative%20Banks’%20Outlook of Database on Indian Economy (DBIE). There will be no hard copies of the publication available for the reference in the matter.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/168

    MIL OSI Economics –

    April 24, 2025

  • MIL-OSI: Aemetis India Plant Visited by U.S. Consul General

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, Calif., April 23, 2025 (GLOBE NEWSWIRE) — Aemetis, Inc. (NASDAQ: AMTX), a diversified global renewable natural gas and biofuels company, announced the Company’s subsidiary in India, Universal Biofuels, has been working with the U.S. government to support the success of American interests in India. Aemetis owns and operates an 80 million gallon per year biodiesel production facility in Kakinada, Andhra Pradesh. The U.S. Consul General, Jennifer Larson, recently toured the Universal biodiesel plant along with staff from the consulate to further the collaboration with Aemetis. 

    India is committed to the production and use of biofuels to expand markets for agricultural products and to utilize waste materials to improve air quality. The target set in the India National Policy on Biofuels is an increase in the blend of biodiesel from 1% to 5%. The meeting and plant tour by Jennifer Larson, the U.S. Consul General based in Hyderabad, India, focused on understanding the implications of India biofuels policies to expand the production of renewable fuels by Universal Biofuels.

    “Diesel engine emissions are a significant contributor to air pollution and a cause of significant public health problems in India,” said Eric McAfee, Chairman and CEO of Aemetis. “The Universal Biofuels facility in India has invested in the expansion of production capacity to meet India’s goal of a 5% biodiesel blend and facilitate the reduction of air pollution from diesel engine exhaust. The visit by the Consul General is representative of the level of engagement by all parties to generate the many benefits of renewable fuels in India.”

    “The adoption of new policies in India that facilitate access to feedstocks supports our plans to raise the capital and invest the resources into growing our production capacity,” said Sanjeev Duggal, CEO of Universal Biofuels. “We look forward to continuing the work with the consulate and view the visit by Ms. Larson as a critical step forward that is an important sign of support for our business.” 

    Aemetis’ Universal Biofuels subsidiary is one of the largest biodiesel producers in India, having been in operation for more than 17 years. Universal Biofuels increased its annual biodiesel production capacity from 60 million gallons to 80 million gallons in the past year, with further biodiesel expansion to other locations and diversification into biogas production planned during the next twelve months. To support further growth, Universal Biofuels is preparing for an IPO in India, aiming for completion in late 2025 or the first half of 2026, subject to continued favorable stock market conditions.

    Universal Biofuels completed $112 million of biodiesel and glycerin shipments in the twelve months ended September 2024, including deliveries to the three government-owned oil marketing companies under a cost-plus contract. Shipments of biodiesel to OMCs are expected to begin again this month under the next round of biodiesel contracts. 

    About Aemetis

    Headquartered in Cupertino, California, Aemetis is a renewable natural gas and biofuels company focused on the operation, acquisition, development, and commercialization of innovative technologies that support energy independence and security. Founded in 2006, Aemetis operates and is expanding a California biogas digester network and pipeline system to convert dairy waste into renewable natural gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that also supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year biofuels facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel biorefinery and a carbon sequestration project in California. For additional information about Aemetis, please visit www.aemetis.com.

    Safe Harbor Statement

    This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results; IPO plans; statements related to the development, engineering, financing, construction, timing, and operation of biodiesel, biogas, sustainable aviation fuel, CO2 sequestration, and other facilities; our ability to promote, develop, finance, and construct such facilities; and statements about future market prices and results of government actions. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to many risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to government policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

    Company Investor Relations
    Media Contact:
    Todd Waltz
    (408) 213-0940
    investors@aemetis.com

    External Investor Relations
    Contact:
    Kirin Smith
    PCG Advisory Group
    (646) 863-6519
    ksmith@pcgadvisory.com

    The MIL Network –

    April 24, 2025

  • MIL-OSI: Onity Group Schedules Conference Call – First Quarter 2025 Results and Business Update

    Source: GlobeNewswire (MIL-OSI)

    WEST PALM BEACH, Fla., April 23, 2025 (GLOBE NEWSWIRE) — Onity Group Inc. (NYSE: ONIT) (“Onity” or the “Company”) today announced that it will hold a conference call on Wednesday, April 30, 2025 at 8:30 a.m. (ET) to review the Company’s first quarter 2025 operating results and provide a business update.

    All interested parties are welcome to participate. You can access the conference call by dialing (800) 579-2543 or (785) 424-1789 approximately 10 minutes prior to the call; please reference the conference ID “Onity.” Participants can also access the conference call through a live audio webcast available from the Shareholder Relations page at onitygroup.com under Events and Presentations.

    An investor presentation will accompany the conference call and be available by visiting the Shareholder Relations page at onitygroup.com prior to the call.

    A replay of the conference call will be available via the website approximately two hours after the conclusion of the call. A telephonic replay will also be available approximately three hours following the call’s completion through May 14, 2025, by dialing (844) 512-2921 or (412) 317-6671; please reference access code 11158988.

    About Onity Group

    Onity Group Inc. (NYSE: ONIT) is a leading non-bank financial services company providing mortgage servicing and originations solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs to consumers and business clients. Liberty is one of the nation’s largest reverse mortgage lenders dedicated to providing loans that help customers meet their personal and financial needs. We are headquartered in West Palm Beach, Florida, with offices and operations in the United States, the U.S. Virgin Islands, India and the Philippines, and have been serving our customers since 1988. For additional information, please visit onitygroup.com.

    For Further Information Contact:

    Investors:
    Valerie Haertel, VP, Investor Relations
    (561) 570-2969
    shareholderrelations@onitygroup.com

    Media:
    Dico Akseraylian, SVP, Corporate Communications
    (856) 917-0066
    mediarelations@onitygroup.com

    The MIL Network –

    April 23, 2025

  • MIL-OSI Global: Brown rice contains more arsenic than white rice – but here’s why you shouldn’t worry

    Source: The Conversation – UK – By Iain Brownlee, Associate Professor, Nutrition, Northumbria University, Newcastle

    nesavinov/Shutterstock

    Brown rice contains more arsenic than white rice, according to a recent study from the US. Understandably, that might sound alarming. After all, arsenic is a well-known toxin. But the levels found in brown rice are not a health risk. And brown rice, like other whole grains, is still an important part of a healthy diet.

    To understand the issue, it helps to remember an old principle from toxicology: the dose makes the poison. In other words, harmful substances can be harmless – or even beneficial – at low enough doses.

    Arsenic, while dangerous in high amounts, is naturally found in soil and water and can show up in many foods, including rice.

    The new study makes this very clear: the amount of arsenic in brown rice is far below any level considered risky for human health. What matters is both how much is present and how often it is consumed.

    For most people, the exposure from eating brown rice is minimal and not something to worry about.

    Despite the study’s reassuring conclusion, some news outlets ran with scary headlines. Such as: Toxic metal linked to cancer, autism found in brown rice as scientists say it’s time to rethink healthy option. And: Think brown rice is healthier than white rice? Study finds high level of carcinogen in brown rice in the US.

    Pesticides, preservatives, trace metals – all can sound scary out of context. But for most people, the health risks don’t come from what’s in our food in tiny amounts – they come from our everyday choices.

    What we should be worried about

    In countries like the UK, less than one in 1,000 people follow all aspects of national dietary guidelines. That means most people aren’t eating enough fruit, vegetables and whole grains – and that’s a much bigger problem.

    In fact, poor diet is a bigger cause of illness and early death worldwide than smoking or alcohol. Two of the top dietary risk factors? Eating too much salt and not enough whole grains.

    Cardiovascular disease, the world’s leading cause of death for decades, kills around 20 million people each year. During the COVID pandemic, it remained deadlier than the virus itself. One of the simplest ways to reduce your risk of cardiovascular disease is to eat more whole grains.

    A poor diet kills more people than smoking or alcohol.
    Rimma Bondarenko/Shutterstock

    So while it’s true that brown rice has more arsenic than white rice, not eating brown rice (or other whole grains) may pose a greater health risk. (Other whole grains options to choose from include: oats, quinoa, barley and whole wheat pasta and bread.)

    If you’re fortunate enough to have choices about what to eat, take a moment to reflect on how your habits align with national dietary guidelines. If you’re already eating well, great – keep it up. If not, start small: swap in a few whole grains and reduce your salt intake.

    And if you’re still not convinced about brown rice, that’s OK. Choose another whole grain that works for you. Just don’t let a misunderstood detail about arsenic scare you away from one of the most positive foods choices you can make.

    Iain Brownlee currently receives funding from the European Research Agency/Medical Research Council and the National Institute of National Institute of Health and Care Research. He has previously received funding from multiple government organisations in the UK, Singapore and Australia, as well as multiple industry funders including Nestlé/Cereal Partners Worldwide.

    – ref. Brown rice contains more arsenic than white rice – but here’s why you shouldn’t worry – https://theconversation.com/brown-rice-contains-more-arsenic-than-white-rice-but-heres-why-you-shouldnt-worry-254668

    MIL OSI – Global Reports –

    April 23, 2025

  • MIL-OSI Europe: Briefing – Canada ahead of the 2025 election: Navigating a complex geopolitical landscape – 23-04-2025

    Source: European Parliament

    Following increasing pressure from members of his own party and a period of low opinion poll ratings, Canadian Prime Minister (PM) Justin Trudeau announced his resignation from the leadership of the Liberal Party of Canada on 6 January 2025. Mark Carney, his successor as prime minister of Canada, and new leader of the Liberal Party, has called a snap parliamentary election for 28 April. This year’s election will mark a decade of Liberal Party rule in Canada, a period with significant political, economic and diplomatic developments. In some cases, the administration continued already existing policies; in some others, it diverged significantly. While Canada’s relationship with China and India has grown increasingly tense in recent years, the country has traditionally relied on close partnerships with its Western allies, particularly its southern neighbour, the United States (US). This dynamic has shifted under the second Trump administration, which has started its term in a far more bellicose tone than before. Canada’s next administration will need to navigate a volatile geopolitical environment characterised by the US’s trade war and weakening commitment to its role as a global leader and guarantor of the Pax Americana; China’s increasingly assertive posture as a second superpower; Russia’s renewed ambitions for a greater global role; and the emergence of middle powers and countries from the Global South. This briefing builds on a 2022 EPRS briefing on Canada’s Parliament and other political institutions. While the earlier briefing examines Canada’s federal structure, parliament and levels of governance, the present one focuses more on the political, economic and external relations developments over the past decade, in light of the upcoming election.

    MIL OSI Europe News –

    April 23, 2025

  • MIL-OSI Russia: With the support of Rosneft, the Sretensky Monastery Choir performed an anniversary concert in the Kremlin Palace

    Translartion. Region: Russians Fedetion –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    With the support of Rosneft, the anniversary concert of the Sretensky Monastery Choir “Russia is ours alone” was held in the State Kremlin Palace (Moscow). The performance was dedicated to the 30th anniversary of the musical group.

    Rosneft has been supporting the Sretensky Monastery Choir since 2015. During this time, the group has successfully held numerous concert tours. Among the productions of past years are “Unholy Saints”, “The Romanovs”, “Russia: Time, Forward!”, “Masterpieces of World Culture”, “Life”, “Songs of Our Parents”.

    At the anniversary concert, the choir performed unique examples of spiritual music, as well as beloved songs that captured the most important milestones in the history of our country. Among them are “Let’s Pray for Our Parents”, “Hope”, “I Love You, Life”, “Horse”, etc. In addition, other famous musicians and actors of our country, as well as the children’s choir of the “White Steamship” project, took part in the event. The anniversary concert was a sell-out, the audience applauded the musicians standing.

    This year, with the support of Rosneft, the Sretensky Monastery Choir presented a new musical production, Dedicated to the Great Victory, prepared for the 80th anniversary of the Victory in the Great Patriotic War. The new project is designed to preserve the memory of the heroic events. The program includes the best works from the front years. The production is based on real stories about the fates of the heroes who walked the miles of war from Moscow to Berlin. The program includes concerts in 24 cities in the regions where the Company operates. The tour will end on July 3 with a concert in Sochi.

    The Sretensky Monastery Choir is one of the most famous musical groups in Russia. It has a unique performing style that allows you to hear and feel music in a new way. The group has already visited more than 45 countries and performed at the most famous venues.

    Rosneft actively participates in significant projects of Russian cultural life aimed at the revival and preservation of spiritual and national values. Since 2018, the Company has supported the projects of the State Hermitage Museum. With the support of Rosneft, the museum opened an updated exhibition “Culture and Art of China”, and the Gallery of the Department of the Ancient World was restored. Also, since 2022, Rosneft has been the general sponsor of the children’s music festival “White Steamship”.

    With the Company’s support, the Mariinsky Theatre artists under the direction of Valery Gergiev performed in Qatar with the production of “A Thousand and One Nights”; a concert dedicated to the 95th anniversary of Alexandra Pakhmutova was held in Volgograd; several exhibitions were organized at the Jewish Museum and Tolerance Center in Moscow. In 2023-2024, with the support of Rosneft, Tatyana Navka’s ice shows “Evenings on a Farm” and “The Nutcracker” were held in Moscow, and the show “The Love Story of Scheherazade” toured in the Indian city of Ahmedabad.

    Department of Information and Advertising of PJSC NK Rosneft April 23, 2025

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

    April 23, 2025

  • MIL-OSI Asia-Pac: CCI approves proposed combination involving acquisition of 100% equity shareholding of the AAM India Manufacturing Corporation Private Limited by Bharat Forge Limited with voluntary modifications

    Source: Government of India

    Posted On: 23 APR 2025 2:59PM by PIB Delhi

    The Competition Commission of India has approved the proposed combination involving acquisition of 100% equity shareholding of the AAM India Manufacturing Corporation Private Limited by Bharat Forge Limited with voluntary modifications.

    Bharat Forge Limited (BFL) is a global provider of safety and critical forged components and solutions to various sectors including automotive, railways, defence, construction, mining, aerospace, marine, and oil & gas. It manufactures and supplies metal forging products including certain forged axle sub-components in India and outside India. Certain promoters of BFL (BNK Family) have controlling shareholding (through BF Investments Ltd.) in two joint ventures with Meritor Heavy Vehicle Systems, LLC (acquired by Cummins Inc. in 2022), in India i.e., Meritor HVS (India) Limited (MHVSIL) and Automotive Axles Limited (AAL).

    AAM India Manufacturing Corporation Private Limited (AAMCPL) is a company incorporated in India and is primarily engaged in the business of manufacture and sale of axles for commercial vehicles in India.

    The proposed combination is an acquisition of 100% equity shareholding of the AAMCPL by BFL. Prior to BFL acquiring the AAMCPL, (a) AAMCPL will hive-off (i) its ‘Pune Business Office’ which is engaged in the provision of captive IT support and product engineering services, and (ii) components business division that purchases vehicle components and exports the same to other group entities of AAMCPL (as pass-through sales), to one or more affiliates of its parent company – American Axle & Manufacturing Holdings Inc. (AAM Holdco), and (b) e-axle assembly lines that are currently housed in AAM Auto Component (India) Private Limited, another wholly owned subsidiary of AAM Holdco in India, will be acquired by the Target (Proposed Combination).

    The Commission approved the proposed combination subject to compliance of voluntarily modifications offered by the Parties.

    Detailed order of the Commission will follow.

    ******

    NB/AD

    (Release ID: 2123770) Visitor Counter : 83

    MIL OSI Asia Pacific News –

    April 23, 2025

  • MIL-OSI Asia-Pac: CCI approves the proposed acquisition of the Target Business by Kandhari Global Beverages Private Limited

    Source: Government of India

    Posted On: 23 APR 2025 2:57PM by PIB Delhi

    The Competition Commission of India has approved the proposed acquisition of the Target Business by Kandhari Global Beverages Private Limited .

    Kandhari Global Beverages Private Limited (Acquirer) is an authorized bottler of The Coca-Cola Company (TCCC) and Schweppes Holdings Limited (SHL), and is engaged in the business of supplying and distributing non-alcoholic beverage (NAB) products in Rajasthan.

    The Target Business comprise of Hindustan Coca-Cola Beverages Private Limited’s business of preparing, packaging, supplying and distributing NAB products in North Gujarat and Union Territory of Diu (Target Business).

    The proposed combination relates to acquisition of the Target Business by the Acquirer (Proposed Combination).

    Detailed order of the Commission will follow.

    *****

    NB/AD

    (Release ID: 2123767) Visitor Counter : 75

    MIL OSI Asia Pacific News –

    April 23, 2025

  • MIL-OSI Asia-Pac: Joint Statement at the conclusion of the State Visit of Prime Minister to the Kingdom of Saudi Arabia

    Source: Government of India

    Posted On: 23 APR 2025 12:44PM by PIB Delhi

    “A Historic Friendship; A Partnership for Progress”

    At the invitation of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, Hon’ble Prime Minister of the Republic of India, Shri Narendra Modi paid a State Visit to the Kingdom of Saudi Arabia on April 22, 2025.

    This was Prime Minister Shri Narendra Modi’s third visit to the Kingdom of Saudi Arabia. It followed the historic State Visit of HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia’s visit to India in September 2023 to participate in the G-20 Summit and co-chair the first meeting of the India- Saudi Arabia Strategic Partnership Council.

    His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, received Prime Minister Shri Narendra Modi at Al-Salam Palace, Jeddah.They held official talks, during which they recalled the strong bonds of historically close friendship between the Republic of India and the Kingdom of Saudi Arabia. India and Saudi Arabia enjoy a strong relationship and close people-to-people ties marked by trust and goodwill. The two sides noted that the solid foundation of the bilateral relationship between the two nations has further strengthened through the strategic partnership covering diverse areas including defense, security, energy, trade, investment, technology, agriculture, culture, health, education, and people-to-people ties. Both sides also exchanged views on current regional and international issues of mutual interest.

    Prime Minister Shri Narendra Modi congratulated HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Kingdom of Saudi Arabia for Saudi Arabia’s successful bids for World Expo 2030 and FIFA World Cup 2034.

    The two leaders held constructive discussions on ways to strengthen the strategic partnership between India and the Kingdom of Saudi Arabia. The two leaders also co-chaired the second meeting of the India-Saudi Arabia Strategic Partnership Council (SPC). The two sides reviewed the progress of the Strategic Partnership Council since their last meeting in September 2023. Both leaders expressed their satisfaction with the outcomes of the work of the two Ministerial Committees, namely: (a) the Committee on Political, Security, Social and Cultural Cooperation and their subcommittees and (b) the Committee on Economy and Investment and their Joint Working Groups, in diverse fields. In this context, the Co-Chairs of the Council welcomed the expansion of the Strategic Partnership Council to four Ministerial Committees reflecting the deepening of the Strategic Partnership, by addition of the Ministerial Committees on Defence Cooperation, and Tourism and Cultural Cooperation. The two leaders noted with appreciation the large number of high-level visits across various Ministries that have built trust and mutual understanding on both sides. At the end of the Meeting, the two leaders signed the Minutes of the Second Meeting of the India-Saudi Arabia Strategic Partnership Council.

    The Indian side expressed its appreciation to the Saudi side for the continuing welfare of around 2.7 million Indian nationals residing in the Kingdom, reflecting the strong people- to-people bonds and immense goodwill that exists between the two nations. The Indian side also congratulated Saudi Arabia for successfully holding the Haj pilgrimage in 2024 and expressed its appreciation for the excellent coordination between the two countries in facilitating Indian Haj and Umrah pilgrims.

    Both sides welcomed the growth of the economic relationship, trade and investment ties between India and Kingdom of Saudi Arabia in recent years. The Indian side congratulated the Saudi side for progress achieved on the goals under Vision 2030. Saudi side expressed appreciation for India’s sustained economic growth and the goal of Viksit Bharat or becoming a developed country by 2047. Both sides agreed to work together in areas of mutual interests to fulfill respective national goals and achieve shared prosperity.

    Both Leaders noted with satisfaction the progress made in the discussions under the High-Level Task Force (HLTF), constituted in 2024 for promoting investment flows between the two countries. Building on the endeavor of Saudi Arabia to invest in India in multiple areas including energy, petrochemicals, infrastructure, technology, fintech, digital infrastructure, telecommunications, pharmaceuticals, manufacturing and health, it was noted that the High-Level Task Force came to an understanding in multiple areas which will rapidly promote such investment flows. They noted the agreement in the High-Level Task Force to collaborate on establishing two refineries. The progress made by this Task Force in areas such as taxation was also a major breakthrough for greater cooperation in the future. The two sides affirmed their desire to complete negotiations on the Bilateral Investment Treaty at the earliest. The Indian side appreciated the launch of India Desk at the Public Investment Fund (PIF) to act as the nodal point for investment facilitation by PIF. They observed that work of the High-Level Task Force underscores the growing economic partnership between India and Saudi Arabia focusing on mutual economic growth and collaborative investments.

    The two sides affirmed their commitment to strengthening their direct and indirect investment partnership. They commended the outcomes of the Saudi-India Investment Forum, held in New Delhi in September 2023, and the active cooperation it achieved between the public and private sectors from both countries. They also commended the expansion of investment activities by Indian companies in the Kingdom, and appreciated the role of the private sector in enhancing mutual investments.The two sides valued the activation of the Framework of Cooperation on Enhancing Bilateral Investment between Invest India and Ministry of Investment of Saudi Arabia. Both sides agreed to facilitate enhanced bilateral cooperation in the startup ecosystem, contributing to mutual growth and innovation.

    In the field of Energy, the Indian side agreed to work with the Kingdom to enhance the stability of global oil markets and to balance global energy market dynamics. They emphasized the need to ensure security of supply for all energy sources in global markets. They agreed on the importance of enhancing cooperation in several areas in the energy sector, including the supply of crude oil and its derivatives including LPG, collaboration in India’s Strategic Reserve Program, joint projects across the refining and petrochemical sector, including manufacturing and specialized industries, innovative uses of hydrocarbons, electricity, and renewable energy, including completing the detailed joint study for electrical interconnection between the two countries, exchanging expertise in the fields of grid automation, grid connectivity, electrical grid security and resilience, and renewable energy projects and energy storage technologies, and enhancing the participation of companies from both sides in implementing their projects.

    The two sides emphasized the importance of cooperation in the field of green/clean hydrogen, including stimulating demand, developing hydrogen transport and storage technologies, exchanging expertise and experiences to implement best practices. The two sides also acknowledged the need to work on developing supply chains and projects linked to the energy sector, enabling cooperation between companies, enhancing cooperation in the field of energy efficiency and rationalizing energy consumption in the buildings, industry, and transportation sectors, and raising awareness of its importance.

    With regard to climate change, both sides reaffirmed the importance of adhering to the principles of the United Nations Framework Convention on Climate Change and the Paris Agreement, and the need to develop and implement climate agreements with a focus on emissions rather than sources. The Indian side commended the Kingdom’s launch of the “Saudi Green Initiative” and the “Middle East Green Initiative”and expressed its support for the Kingdom’s efforts in the field of climate change. The two sides stressed the importance of joint cooperation to develop applications of the circular carbon economy by promoting policies that use the circular carbon economy as a tool to manage emissions and achieve climate change objectives.The Kingdom of Saudi Arabia appreciated India’s contributions to global climate action by pioneering initiatives like International Solar Alliance, One Sun-One World-One Grid, Coalition of Disaster Resilient Infrastructure (CDRI) and Mission Lifestyle for Environment (LiFE) and Global Green Credit Initiative.

    Both sides expressed satisfaction at the steady growth in bilateral trade in recent years with India being the second largest trading partner for Saudi Arabia; and Saudi Arabia being India’s fifth largest trading partner in 2023-2024. Both sides agreed to further enhance co-operation to diversify their bilateral trade. In this regard, both sides agreed on the importance of increasing visits of business and trade delegations, and holding trade and investment events. Both sides reiterated their desire for commencing negotiations on the India-GCC FTA.

    The two sides appreciated the deepening of the defence ties as a key pillar of the Strategic Partnership, and welcomed the creation of a Ministerial Committee on Defence Cooperation under the Strategic Partnership Council. They noted with satisfaction the growth of their joint defence cooperation including numerous ‘firsts’ like the first ever Land Forces exercise SADA TANSEEQ, two rounds of the Naval Exercises AL MOHED AL HINDI, many high-level visits, and training exchanges, towards ensuring the security and stability of the region. They welcomed the outcomes of the 6th meeting of the Joint Committee on Defence Cooperation held in Riyadh in September 2024, noting the initiation of staff-level talks between all three services. Both sides also agreed to enhance defence industry collaboration.

    Noting the continuing cooperation achieved in security fields, both sides highlighted the importance of this cooperation for better security and stability. They also emphasized the importance of furthering cooperation between both sides in the areas of cybersecurity, maritime border security, combating transnational crime, narcotics and drug trafficking.

    Both sides strongly condemned the gruesome terror attack in Pahalgam, Jammu and Kashmir on 22 April 2025, which claimed the lives of innocent civilians. In this context, the two sides condemned terrorism and violent extremism in all its forms and manifestations, and emphasized that this remains one of the gravest threats to humanity. They agreed that there cannot be any justification for any act of terror for any reason whatsoever. They rejected any attempt to link terrorism to any particular race, religion or culture. They welcomed the excellent cooperation between the two sides in counter-terrorism and the terror financing. They condemned cross-border terrorism, and called on all States to reject the use of terrorism against other countries, dismantle terrorism infrastructure where it exists, and bring perpetrators of terrorism to justice swiftly. Both sides stressed the need to prevent access to weapons including missiles and drones to commit terrorist acts against other countries.

    The two sides noted the ongoing cooperation in field of health and efforts to combat current and future health risks and health challenges. In this context, they welcomed the signing of the MOU on Cooperation in the Field of Health between the two countries. The Indian side congratulated the Kingdom of Saudi Arabia for successfully hosting the Fourth Ministerial Conference on Antimicrobial Resistance in Jeddah in November 2024. Indian side welcomed the initiatives taken by the Saudi Food and Drug Authority to address issues related to reference pricing and fast track registration of Indian drugs in Saudi Arabia. Both sides also welcomed the extension of the MoU on Co-operation in the Field of Medical Products Regulation between Saudi Food and Drug Authority and Central Drugs Standard Control Organization (CDSCO) for a further period of five years.

    Both sides underscored the importance of co-operation in technology including in new and emerging domains such as Artificial Intelligence, cybersecurity, semi-conductors etc. Highlighting the importance of digital governance,both sides agreed to explore collaboration in this area. They also expressed satisfaction on signing of the MOU between Telecom Regulatory Authority of India and Communications, Space and Technology Commission of Kingdom of Saudi Arabia for cooperation in regulatory and digital sectors.

    Both sides noted that the MoU on space cooperation signed during this visit will pave the way for enhanced cooperation in the field of space, including utilization of launch vehicles, spacecraft, ground systems; applications of space technology; research and development; academic engagement and entrepreneurship.

    Both sides noted the growth of cultural cooperation between the Kingdom of Saudi Arabia and the Republic of India through active engagement in key sectors such as heritage, film, literature, and performing and visual arts. The creation of a Ministerial Committee on Tourism and Cultural Cooperation under the Strategic Partnership Council marks a significant step toward deepening this partnership.

    Both sides also agreed to enhance cooperation in tourism including through capacity building and sustainable tourism. They also noted the expansion of various opportunities in media, entertainment, and sports, supported by the strong people-to-people ties between the two countries.

    Both sides appreciated the long-standing cooperation between the two countries in the areas of agriculture and food security, including trade of fertilizers. They agreed to pursue long-term agreements for the security of supply, mutual investments and joint projects towards building long-term strategic cooperation in this area.

    The two sides commended the growing momentum in educational and scientific collaboration between the two countries, underscoring its strategic importance in fostering innovation, capacity building, and sustainable development. The Saudi side welcomes the opportunities for leading Indian universities to have presence in Saudi Arabia.The two sides also stressed the value of expanding cooperation in labour and human resources and identifying opportunities for collaboration.

    Both sides recalled the signing of the Memorandum of Understanding on the Principles of an India-Middle East-Europe Economic Corridor along with other countries in September 2023 during the state visit of HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Kingdom of Saudi Arabia to India and expressed mutual commitment to work together to realize the vision of connectivity as envisaged in the Corridor, including the development of infrastructure that includes railways and port linkages to increase the passage of goods and services, and boost trade among stakeholders, and enhance data connectivity and electrical grid interconnectivity. In this regard, both sides welcomed the progress under the MoU on Electrical Interconnections, Clean/Green Hydrogen and Supply Chains signed in October 2023. Both sides also expressed satisfaction on the increase in shipping lines between the two countries.

    The two sides stressed the importance of enhancing cooperation and coordination between the two countries in international organizations and forums, including the G20, the International Monetary Fund, and the World Bank, to bolster efforts to address the challenges facing the global economy. They commended the existing cooperation between them within the Common Framework for Debt Treatment Beyond the Debt Service Suspension Initiative (DSSI), which was endorsed by the G20 leaders at the Riyadh Summit 2020. They stressed the importance of enhancing the implementation of the Common Framework as the main and most comprehensive platform for coordination between official creditors (developing country creditors and Paris Club creditors) and the private sector to address the debt of eligible countries.

    The two sides affirmed their full support for the international and regional efforts aimed at reaching a comprehensive political solution to the crisis in Yemen. The Indian side appreciated the Kingdom’s many initiatives aimed at encouraging dialogue between the Yemeni parties, and its role in providing and facilitating access of humanitarian aid to all regions of Yemen. The Saudi side also appreciated the Indian effort in providing humanitarian aid to Yemen.The two sides agreed on the importance of cooperation to promote ways to ensure the security and safety of waterways and freedom of navigation in line with the United Nations Convention on the Law of the Sea (UNCLOS).

    The following MoUs were signed during the visit:

    • MoU between Department of Space, India, and Saudi Space Agency in the field of space activities for peaceful purposes.

    • MoU between Ministry of Health and Family Welfare, Republic of India and Ministry of Health, Kingdom of Saudi Arabia & on Cooperation in the Field of Health.

    • Bilateral Agreement between Department of Posts, India and Saudi Post Corporation (SPL) for inward foreign surface parcel.

    • MOU between National Anti-Doping Agency of India (NADA), India, and Saudi Arabia Anti-Doping Committee (SAADC) for cooperation in the field of anti-doping and prevention.

    Both sides agreed to hold the next meeting of the Strategic Partnership Council on a date mutually agreed upon. As the two nations march ahead with economic and social developments in their respective countries, they also decided, that they will continue communication, coordination and cooperation across various sectors.

    At the end of the visit, Prime Minister Shri Narendra Modi, expressed his sincere thanks and appreciation to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, for the warm reception and generous hospitality extended to him and his accompanying delegation. He also conveyed his best wishes for continued progress and prosperity of the friendly people of the Kingdom of Saudi Arabia. For his part, His Royal Highness extended his sincere wishes to Prime Minister Narendra Modi and the friendly people of India for further progress and prosperity.

    ***

    MJPS/VJ

    (Release ID: 2123722) Visitor Counter : 170

    MIL OSI Asia Pacific News –

    April 23, 2025

  • MIL-OSI Asia-Pac: Union Health Ministry launches New Competency-Based Curricula for ten Allied and Healthcare Professions in collaboration with the National Commission for Allied and Healthcare Professions (NCAHP)

    Source: Government of India

    Union Health Ministry launches New Competency-Based Curricula for ten Allied and Healthcare Professions in collaboration with the National Commission for Allied and Healthcare Professions (NCAHP)

    New curricula designed to produce globally competent allied and healthcare professionals to address the increasing prevalence of diseases, and the growing demand for allied services

    India is skilling its healthcare professionals not just for India, but for the globe. The new curricula will set a benchmark for the quality of healthcare professionals: Union Health Secretary

    These curricula will ensure uniformity and an important step in the direction of actualizing the vision of ‘One Nation, One Curriculum’: Chairperson NCAHP

    Posted On: 23 APR 2025 2:38PM by PIB Delhi

    Union Ministry of Health and Family Welfare, in collaboration with the National Commission for Allied and Healthcare Professions (NCAHP), launched competency-based curricula for ten allied and healthcare professions. Union Health Secretary Smt. Punya Salila Srivastava inaugurated the launch event, here today. Also present were Ms Hekali Zhimomi, Addl. Secretary, MoHFW and Dr Yagna Shukla, Chairperson, NCAHP. The curricula will cover a broad spectrum of professions, including Physiotherapy; Applied Psychology and Behavioural Health; Optometry; Nutrition and Dietetics; Dialysis Therapy Technology and Dialysis Therapy; Radiotherapy Technology; Medical Radiology and Imaging Technology; Anaesthesia and Operation Theatre Technology; Health Information Management; and Physician Associates. This strategic initiative is aimed at ensuring uniformity and excellence in the education and training of allied and healthcare professionals across the country, thereby strengthening the healthcare delivery system in accordance with the emerging needs of the nation.

    In her inaugural address, Union Health Secretary underscored the government’s steadfast commitment to strengthening capacity building and improving the quality of education and training across all domains of the healthcare sector. She highlighted that “the comprehensive revision and standardization of the curricula represent a pivotal step toward establishing consistency in educational content and delivery”.

    Highlighting the importance of the new curricula launched, Smt. Srivastava stated that “India is skilling its healthcare professionals not just for India, but for the globe. The curricula launched today will set a benchmark for the quality of healthcare professionals across various faculties.”

    Underlining the importance of the professions for which new curriculum has been launched, Smt. Srivastava stated that “these professions play a crucial role in preventive, promotive, curative and rehabilitative healthcare. This initiative is expected to significantly enhance the effectiveness of skill-based training, better align educational outcomes with industry needs, and promote greater career mobility and professional recognition for allied health professionals nationwide.”

    She further added that “the success of these curricula depends not only on their design and content but also on the strength of the systems that support their rollout. This includes adequate institutional preparedness, faculty training, infrastructure development, and continuous monitoring to uphold quality standards. Digital modules of the curriculum will be crowd sourced to make them available to all for their capacity building so that the vision of Swastha Bharat can be promoted.”

    Smt. Srivastava also emphasized the critical importance of establishing robust regulatory mechanisms and investing in capacity building to ensure the effective implementation of the newly developed curricula.

    Speaking on the occasion, Dr Yagna Unmesh Shukla, chairperson NCAHP, stated that “these curricula will ensure uniformity and an important step in the direction of actualizing the vision of ‘One Nation, One Curriculum’. It is important to note that this marks the first phase of the curriculum rollout. The release of curricula for other professional categories, as outlined under the National Commission for Allied and Healthcare Professions (NCAHP) Act, 2021, is currently underway and will be completed at the earliest possible opportunity.”

    She further informed that “the new curricula will be mandatorily implemented from 2026.  The new curricula will be available on the NCAHP website”. She also stated that after this phase of curriculum release, other curriculums of professions scheduled under the Act will also be released at the earliest.

    The newly introduced handbooks represent a significant step toward establishing a unified national standard for allied and healthcare education across the country. They provide clear and consistent guidelines regarding course content, eligibility criteria, methods of training delivery, and institutional infrastructure requirements.

    The newly launched curricula are built upon the following principles:

    • Standardization: Establishing minimum educational standards to ensure consistent quality of graduating professionals nationwide.
    • Competency-Based Approach: Emphasizing the practical application of knowledge and skills in real-world healthcare settings, moving beyond theoretical knowledge.
    • Holistic Development: Fostering not only clinical expertise but also essential skills such as communication, teamwork, ethical practice, and lifelong learning.
    • Support for Universal Health Coverage: Preparing a skilled workforce in physiotherapy and renal care to support the government’s vision of Universal Health Coverage.

    The event witnessed the virtual participation of esteemed members from various State Councils, along with distinguished subject matter experts from across the allied and healthcare sectors. Their presence and contributions added significant value to the discussions, reflecting a shared commitment to advancing standardized, high-quality education and professional development within the allied and healthcare professions.

    Background:

    The National Commission for Allied and Healthcare Professions (NCAHP) is an Indian statutory body which regulates and maintains standards of education and services of allied and healthcare professionals. This commission’s objective is to establish and to be equipped with interdependent, Independent and inter referral healthcare practitioner.

    The newly developed curricula aim to cultivate globally competent allied and healthcare professionals, equipped to meet the rising burden of disease and the increasing demand for allied health services. These programs are structured to align with the evolving needs of the healthcare sector, both nationally and internationally.

    The development process involved extensive consultation with academic experts, representatives from professional associations, and key stakeholders across the healthcare ecosystem. A thorough review of existing educational modules was conducted, incorporating insights and feedback from senior technical advisors to ensure relevance and rigor.

    Furthermore, the curricula have been carefully realigned with the regulatory standards and provisions outlined in the National Commission for Allied and Healthcare Professions (NCAHP) Act, 2021. This comprehensive approach ensures that the training of allied and healthcare professionals remains current, responsive, and of the highest quality.

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    MV

    HFW/ NCAHP New Curricula/23rd April 2025/1

    (Release ID: 2123765) Visitor Counter : 187

    MIL OSI Asia Pacific News –

    April 23, 2025

  • MIL-OSI Asia-Pac: CCI approves the (i) acquisition of certain equity shares of Bharti Axa Life Insurance Company Limited (BALIC/ Target) by 360 ONE Private Equity Fund, through its schemes or affiliates (360 Fund); and (ii) subscription of certain equity shares in the Target by Bharti Life Ventures Private Limited (BLVPL) and 360 Fund

    Source: Government of India

    Posted On: 23 APR 2025 2:59PM by PIB Delhi

    The Competition Commission of India has approved the (i) acquisition of certain equity shares of Bharti Axa Life Insurance Company Limited (BALIC/ Target) by 360 ONE Private Equity Fund, through its schemes or affiliates (360 Fund); and (ii) subscription of certain equity shares in the Target by Bharti Life Ventures Private Limited (BLVPL) and 360 Fund.

    360 Fund, through its schemes or affiliates, proposes first to acquire equity shares of the Target from BLVPL. Subsequently, 360 ONE (defined in subsequent paragraphs), and BLVPL also propose to subscribe to certain equity shares in Target.

    360 Fund is registered with the Securities and Exchange Board of India as a Category II Alternative Investment Fund and is established for the purpose of investing in various sectors in India and worldwide. 360 ONE Alternates Asset Management Limited (360 AAML) provides investment management services to 360 ONE’s entities. 360 AAML is a wholly owned subsidiary and is ultimately controlled by 360 ONE WAM Limited. (360 Fund and 360 AAML collectively referred to as ‘360 ONE’)

    BLVPL is the holding company of BALIC, and both of these companies belong to the Bharti Group.

    BALIC is a limited liability public unlisted company incorporated in India. BALIC is involved in the business of providing life insurance policies.

    Detailed order of the Commission will follow.

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    NB/AD

    (Release ID: 2123768) Visitor Counter : 33

    MIL OSI Asia Pacific News –

    April 23, 2025

  • MIL-OSI Asia-Pac: New optical sensing platform for detecting cholesterol could indicate probability of diseases

    Source: Government of India

    Posted On: 23 APR 2025 2:55PM by PIB Delhi

    A highly sensitive, eco-friendly and cost-effective optical sensing platform developed for cholesterol detection can help identify early symptoms of diseases like atherosclerosis, venous thrombosis, cardiovascular diseases, heart disease, myocardial infarction, hypertension, and cancer.

    Detecting fatal diseases at their earliest symptoms is essential, as abnormal biochemical markers may sometimes accompany such disorders. Therefore, reliable point-of-care (POC) detection of biomarkers associated with these diseases is necessary for personalized health monitoring.

    Cholesterol is an essential lipid in humans, produced by the liver. It is the precursor for vitamin D, bile acids, and steroid hormones. Cholesterol is necessary for animal tissues, blood, and nerve cells, and it is transported by blood in mammals. There are two types of cholesterol: LDL (low-density lipoprotein), often referred to as ‘bad’ cholesterol because it can accumulate in the walls of arteries and contribute to severe diseases, and HDL (high-density lipoprotein), known as ‘good’ cholesterol.

    However, maintaining a balance in cholesterol levels is crucial. Both high and low cholesterol levels can lead to various diseases, including atherosclerosis, venous thrombosis, cardiovascular diseases, heart disease, myocardial infarction, hypertension, and cancer. Atherosclerotic plaques form when excess cholesterol builds up on artery walls, hindering proper blood flow.

    A team of interdisciplinary researchers at the Institute of Advanced Study in Science and Technology (IASST) in Guwahati, an autonomous institute under the Department of Science and Technology (DST, has developed an optical sensing platform for cholesterol detection based on silk fibre functionalized using phosphorene quantum dots.

    A point-of-care (POC) device has been developed in the laboratory scale for detecting cholesterol using this. It can sense cholesterol in trace amounts, even below the preferred range. It can be an efficient tool for routine monitoring of cholesterol levels in the human body.

    The project, led by Prof. Neelotpal Sen Sarma, a retired Professor; Dr. Asis Bala, an Associate Professor; and Ms. Nasrin Sultana, a DST INSPIRE Senior Research Fellow incorporated the material – the silk fibre, into a cellulose nitrate membrane to create an electrical sensing platform for cholesterol detection.

    Fig: Schematic representation of the work done on the detection of cholesterol based on silk fiber functionalized phosphorene quantum dots.

    The synthesized sensors were highly sensitive as well as selective for cholesterol detection. Furthermore, the electrical sensing platform generates no e-waste, a key advantage of the fabricated device. Both sensing platforms respond similarly to real-world media such as human blood serum, experimental rat blood serum, and milk. The work was published in the “Nanoscale” Journal, published by Royal Society of Chemistry.

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    NKR/PSM

    (Release ID: 2123766) Visitor Counter : 54

    MIL OSI Asia Pacific News –

    April 23, 2025

  • MIL-OSI Asia-Pac: Parliamentary Committee on Official Language Visits the National Museum of Indian Cinema

    Source: Government of India

    Posted On: 23 APR 2025 11:27AM by PIB Mumbai

    Mumbai, 23 April 2025

     

    The Members of the Parliamentary Committee on Official Language visited the National Film Development Corporation (NFDC) and the National Museum of Indian Cinema (NMIC)in Mumbai, on Tuesday, April 22, 2025. 

    The delegation included Members of Parliament Shri Shankar Lalwani (Indore LS constituency), Shri Haribhai Patel (Mehsana LS constituency), Shri Kuldeep Indora (Ganganagar LS cindtutuency), Dr. Sumer Singh Solanki (RS), Shri Zia Ur Rahman (Sambhal LS Constituency), along with Secretary (Committee) Shri Prem Narain.

    The Members of the Parliamentary Committee were received by Shri D. Ramakrishnan, General Manager, NFDC, and other senior officials. Shri Ravindra Kumar Jain, Senior Economic Advisor, Union Ministry of Information & Broadcasting, was also present on the occasion. 

    The museum tour was conducted by Ms. Jayita Ghosh, Manager – Marketing & Public Relations, NMIC, and Shri Satyajit Mandlay, Deputy General Manager and Curator. The Members of the Official Language Committee received an insightful overview of Indian cinema’s historical journey, technological advancements, rare posters, and curated collections.

    The Members were deeply impressed by the exhibits and praised the museum for preserving and showcasing the cultural heritage of Indian cinema. They shared that the visit was not only enlightening and informative but also emotionally resonant, offering a unique connection to the soul of Indian cinema. They also expressed their intent to revisit the museum in the future.

    The occasion marked a proud moment for both NMIC and NFDC, as the enduring legacy of Indian cinema was recognized and appreciated by key policymakers of the nation.

     

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    PIB Mumbai | SC/ DR

    Follow us on social media: @PIBMumbai    /PIBMumbai     /pibmumbai   pibmumbai[at]gmail[dot]com  /PIBMumbai     /pibmumbai

    (Release ID: 2123693) Visitor Counter : 75

    MIL OSI Asia Pacific News –

    April 23, 2025

  • MIL-OSI Asia-Pac: Tur procurement continues in major Tur producing states

    Source: Government of India

    Tur procurement continues in major Tur producing states

    Govt. committed to purchase 100 percent of production of Tur at MSP

    Tur procurement is also done on e-Samridhi and eSamyukti portals

    Posted On: 23 APR 2025 2:15PM by PIB Delhi

    In order to incentivize the farmers contributing for the enhancement of domestic production of pulses and to reduce the dependence on imports, the Government has approved the procurement of Tur, Urad and Masur under Price Support Scheme (PSS) equivalent to 100% of the production of the state for the procurement year 2024-25.

    The Government has also made an announcement in Budget 2025 that the procurement of Tur (Arhar), Urad and Masur would be undertaken 100% of the production of the State for another four years up to 2028-29 through Central Nodal Agencies namely NAFED and NCCF to achieve self- sufficiency in pulses in the country.

    Accordingly, Union Minister of Agriculture and Farmers’ Welfare Shri Shivraj Singh Chouhan approved the procurement of Tur (Arhar) in the states of Andhra Pradesh, Chhattisgarh, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Telangana and Uttar Pradesh under Price Support Scheme during the Kharif 2024-25 season for a total quantity of 13.22 LMT. The Minister has also approved the extension of procurement period in Andhra Pradesh by 30 days beyond 90 days upto 22nd of next month in the interest of farmers.

    The procurement at MSP through NAFED and NCCF is in progress in Andhra Pradesh,Gujarat, Karnataka, Maharashtra and Telangana and a total quantity of 3.92 LMT of Tur (Arhar) has been procured in these states till 22nd of this month benefitting 2,56,517farmers of these states. Tur procurement is also done from pre-registered farmers on e-Samridhi portal of NAFED and eSamyukti portal of NCCF.  The Govt. of India is committed to take up 100 percent procurement of Tur @ MSP offered by farmers through central nodal agencies namely NAFED and NCCF.

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    PSF/KSR/AR

    (Release ID: 2123761) Visitor Counter : 15

    Read this release in: Hindi

    MIL OSI Asia Pacific News –

    April 23, 2025

  • MIL-OSI Asia-Pac: DELIVERY OF 10th AMMUNITION CUM TORPEDO CUM MISSILE (ACTCM) BARGE, LSAM 24 (YARD 134)

    Source: Government of India

    Posted On: 23 APR 2025 9:00AM by PIB Delhi

    Induction ceremony of 10th ACTCM Barge, LSAM 24 (Yard 134) was held on 22 Apr 25 at Naval Dockyard, Mumbai. Chief Guest for Induction Ceremony was Cmde AKK Reddy, AGM(PR), ND(Mbi).

    The contract for construction and delivery of eleven (11) Ammunition Cum Torpedo Cum Missile (ACTCM) Barges was concluded with M/s Suryadipta Projects Pvt Ltd, Thane on 05 Mar 21, an MSME Shipyard. The Shipyard has indigenously designed these Barges in collaboration with an Indian Ship Design firm and subsequently model tested at Naval Science and Technological Laboratory, Visakhapatnam successfully to ensure seaworthiness. These barges are built in accordance with relevant Naval Rules and Regulations of Indian Register of Shipping (IRS). These Barges are proud flag bearers of “Make in India” and “Aatmanirbhar Bharat” initiatives of Government of India. Nine ACTCM Barges have already been delivered and the shipyard has also been awarded a contract for construction and delivery of four Sullage Barges to the Indian Navy thereby highlighting the Indian Navy’s commitment towards encouraging MSMEs.

    Induction of these Barges would provide impetus to operational commitments of Indian Navy by facilitating Transportation, Embarkation and Disembarkation of articles/ ammunition to Indian Navy platforms both alongside jetties and at outer harbours.

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    VM/SKS                                          

    (Release ID: 2123750) Visitor Counter : 84

    MIL OSI Asia Pacific News –

    April 23, 2025

  • MIL-OSI Asia-Pac: DPIIT Secretary chairs PMG review of mega infrastructure projects in Uttar Pradesh, Haryana, Punjab and Uttarakhand

    Source: Government of India

    DPIIT Secretary chairs PMG review of mega infrastructure projects in Uttar Pradesh, Haryana, Punjab and Uttarakhand

    Projects worth over ₹14,096 crore reviewed

    Posted On: 23 APR 2025 1:35PM by PIB Delhi

    Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Shri Amardeep Bhatia, chaired a high-level meeting to review mega infrastructure projects in the states of Uttar Pradesh, Haryana, Punjab, and Uttarakhand. The review meeting, conducted under the aegis of the Project Monitoring Group (PMG), was attended by senior officials from central ministries, state governments, and project proponents.

    During the meeting, 19 issues across 17 significant projects were reviewed, with the total cost of these projects exceeding ₹14,096 crore. The discussions focused on fast-tracking resolution of implementation challenges through enhanced inter-ministerial and inter-state coordination.

    Among the major projects reviewed was the four-laning of the Jaunpur-Akbarpur road project, valued at ₹3,164.72 crore. The project involves two key issues across two work packages, and is crucial for improving regional connectivity and road infrastructure.

    The meeting also laid emphasis on the establishment of new ESI Hospitals at multiple strategic locations. These projects are part of the Government of India’s broader effort to strengthen healthcare infrastructure, particularly in underserved and high-demand regions. Shri Bhatia noted that the hospitals will significantly improve access to quality medical care and contribute to regional development, thereby supporting the well-being of the workforce and their families.

    The construction of the permanent campus of NIT Uttarakhand at Sumari in Pauri Garhwal district was another key project reviewed. Aimed at strengthening the region’s educational ecosystem, the campus will provide a state-of-the-art academic and administrative environment for the institute. Once operational, it is expected to elevate the quality of technical education and research in Uttarakhand and spur local socio-economic development.

    Shri Bhatia reiterated the Government’s commitment to reinforcing the institutional framework for project monitoring and urged all stakeholders to adopt a proactive approach for issue resolution. He encouraged private sector participants to actively engage with the PMG platform (https://pmg.dpiit.gov.in/) to expedite project implementation by leveraging streamlined coordination with the government and other key entities.

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    Abhishek Dayal/ Abhijith Narayanan/ Ishita Biswas

    (Release ID: 2123748) Visitor Counter : 84

    MIL OSI Asia Pacific News –

    April 23, 2025

  • MIL-OSI Asia-Pac: Civil Aviation Minister Ram Mohan Naidu takes swift action to support tourists and victims affected by Kashmir terror attack

    Source: Government of India

    Civil Aviation Minister Ram Mohan Naidu takes swift action to support tourists and victims affected by Kashmir terror attack

    Four special flights arranged from Srinagar—Two to Delhi and Two to Mumbai

    Airlines directed to maintain regular fare levels

    Posted On: 23 APR 2025 10:33AM by PIB Delhi

    In the wake of the tragic terror attack in Kashmir, Union Minister for Civil Aviation Shri Ram Mohan Naidu has moved swiftly to ensure the safety and well-being of affected tourists and victims.

    The Minister personally spoke to the Home Minister and is monitoring the situation round the clock, working in close coordination with relevant authorities. As part of immediate relief measures, four special flights from Srinagar—two to Delhi and two to Mumbai—have been arranged, with additional flights kept on standby to cater to further evacuation needs.

    Shri Ram Mohan Naidu also held an urgent meeting with all airline operators and issued a strong advisory against surge pricing. Airlines have been directed to maintain regular fare levels, ensuring that no passenger is burdened during this sensitive time.

    Additionally, Shri Ram Mohan Naidu has directed all airlines to extend full cooperation for the transportation of deceased individuals to their respective home states, working in sync with state governments and local authorities.

    The Ministry of Civil Aviation remains on high alert and committed to extending every possible assistance to those affected.

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    Beena Yadav/Divyanshu Kumar

    (Release ID: 2123677) Visitor Counter : 213

    MIL OSI Asia Pacific News –

    April 23, 2025

  • MIL-OSI Asia-Pac: List of Outcomes: State Visit of Prime Minister to Saudi Arabia

    Source: Government of India

    Posted On: 23 APR 2025 2:25AM by PIB Delhi

    I. Strategic Partnership Council

    • The second leaders meeting of the India-Saudi Arabia Strategic Partnership Council (SPC) was co-chaired by Hon’ble Prime Minister of India Shri Narendra Modi and His Royal Highness Prince Mohammed bin Salman, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia on 22 April 2025 in Jeddah. The Council reviewed the work of the various committees, subcommittees and working groups under the SPC, which encompass political, defence, security, trade, investment, energy, technology, agriculture, culture and people-to-people ties. The discussions were followed by signing of the minutes by the two leaders.
    • To reflect the deepening of defence partnership over the past few years – including joint exercises, training programmes, and collaboration in defence industry, the Council decided to create a new Ministerial Committee on Defence Cooperation under the SPC.
    • To strengthen cultural and people-to-people ties, which has significant momentum in recent years, the Council decided to create a new Ministerial Committee on Tourism and Cultural Cooperation under the SPC.
    • The four committees under the India-Saudi Arabia SPC shall now be as follows:

      (1) Political, Consular and Security Cooperation Committee.

      (2) Defence Cooperation Committee.

      (3) Economy, Energy, Investment and Technology Committee.

      (4) Tourism and Cultural Cooperation Committee.

    II. High Level Task Force on Investment (HLTF)

    • Building on the commitment of Saudi Arabia to invest USD 100 billion in India in multiple areas including energy, petrochemicals, infrastructure, technology, fintech, digital infrastructure, telecommunications, pharmaceuticals, manufacturing and health, the joint High-Level Task Force on Investment came to an understanding in multiple areas to rapidly promote such investment flows.
    • Both sides agreed to collaborate on establishing two refineries in India.
    • The progress made by HLTF in areas such as taxation is a major breakthrough for greater investment cooperation in the future.

    III. List of MoUs/Agreements:

    • MoU between the Saudi Space Agency and the Department of Space of India on Cooperation in the field of Space Activities for Peaceful Purposes.
    • MoU between the Ministry of Health of Saudi Arabia and the Ministry of Health and Family Welfare of India on Cooperation in the field of Health.
    • MoU between the Saudi Arabian Anti-Doping Committee (SAADC) and the National Anti-Doping Agency, India (NADA) on Cooperation in the field of Anti-Doping Education and Prevention.
    • Agreement between the Saudi Post Corporation (SPL) and the Department of Posts, Ministry of Communications of India on Cooperation in Inward Surface Parcel.

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    MJPS/SR 

    (Release ID: 2123660) Visitor Counter : 44

    MIL OSI Asia Pacific News –

    April 23, 2025

  • MIL-OSI Asia-Pac: Secretary General of Muslim World League calls on Prime Minister

    Source: Government of India

    Posted On: 23 APR 2025 2:23AM by PIB Delhi

    The Secretary General of Muslim World League, Sheikh Dr. Mohammed bin Abdulkarim Al-Issa today called on Prime Minister Shri Narendra Modi in Jeddah. He strongly condemned the ghastly terror attack in Jammu and Kashmir and offered deepest condolences on the innocent lives lost.

    Prime Minister recalled his meeting with the Secretary General in July 2023 in New Delhi. He appreciated the role of Muslim World League in promoting tolerant values, advocating moderation and advancing social cohesion and harmony. Recalling India’s age-old philosophy of Vasudhaiva Kutumbakam [the World is one Family] Prime Minister noted that India as a multi-cultural, multi-lingual, multi-ethnic and multi-religious society, celebrates unity in diversity. India’s incredible diversity is a valuable strength that has given shape to its vibrant society and polity. He commended the firm stand of Muslim World League against extremism, terrorism and violence.

    Prime Minister underlined that India attaches high importance to its relations with Saudi Arabia, which has today evolved into an enduring partnership across several domains. The close socio-cultural ties form an important facet of this partnership.

     

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    MJPS/SR

    (Release ID: 2123659) Visitor Counter : 46

    MIL OSI Asia Pacific News –

    April 23, 2025

  • MIL-OSI Asia-Pac: Prime Minister meets with High Royal Highness the Crown Prince and Prime Minister of the Kingdom of Saudi Arabia and co-chairs the India–Saudi Arabia Strategic Partnership Council

    Source: Government of India

    Posted On: 23 APR 2025 2:20AM by PIB Delhi

    Prime Minister Shri Narendra Modi paid a State Visit to the Kingdom of Saudi Arabia on April 22, 2025. Prime Minister was received by His Royal Highness Prince Mohammed bin Salman, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia at the Royal Palace in Jeddah and accorded a ceremonial welcome.

    ​Prime Minister and His Royal Highness Prince Mohammed bin Salman, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia held official talks and co-chaired the second meeting of the India–Saudi Arabia Strategic Partnership Council (SPC). HRH Crown Prince strongly condemned the ghastly terror attack in Pahalgam and offered deepest condolences on the innocent lives lost. The two leaders resolved to combat terrorism tooth and nail.

    The leaders reviewed the progress under the Council since their last meeting in September 2023 in New Delhi. The leaders noted with appreciation the intensification in bilateral engagement and the large number of high-level visits across various Ministries that have built trust and mutual understanding on both sides. The two leaders discussed cooperation in the fields of energy, defence, trade, investment, technology, culture and people-to-people relations. Prime Minister thanked His Royal Highness for the support and welfare extended to the Indian community in Saudi Arabia. He also appreciated the support provided by the Saudi government for the Indian Haj pilgrims.

    Both leaders appreciated the progress in the discussions in the High-Level Task Force on Investment. They welcomed the understanding reached by the Task Force in multiple areas, which builds on the earlier commitment of Saudi Arabia to invest USD 100 billion in India across multiple sectors including energy, petrochemicals, infrastructure, technology, fintech, digital infrastructure, telecommunications, pharmaceuticals, manufacturing, and health. In this context, they particularly welcomed the agreement to collaborate on establishing two oil refineries in India, as well as the progress achieved on taxation issues. Prime Minister proposed that to further strengthen economic ties both countries could work for connecting payment gateways and trade settlement in local currencies.

    The two leaders discussed progress in India-Middle East Europe Economic Corridor [IMEEC], particularly the bilateral connectivity initiatives being undertaken by the two sides. Both leaders also exchanged views on regional and global issues of mutual interest.

    The two leaders expressed satisfaction at the outcomes of the work of the two Ministerial Committees under the Council, namely: (a) the Committee on Political, Security, Social and Cultural Cooperation and its subcommittees, and (b) the Committee on Economy and Investments and its Joint Working Groups.

    The two leaders welcomed the expansion of the Strategic Partnership Council with the establishment two new ministerial committees. In this context, to reflect the deepening of the defence partnership, the leaders agreed on the establishment of the Ministerial Committee on Defence Cooperation. Acknowledging the growing momentum in cultural cooperation between the two sides in recent years, they also agreed to establish a Ministerial Committee on Tourism and Culture Cooperation. After the meeting, the minutes of the second SPC were signed by the two leaders.

    The leaders welcomed the signing of 4 bilateral MoUs and agreements in the fields of Space, Health, Sports (Anti-Doping) and postal cooperation on the occasion of the visit. [List of Outcomes]

    Prime Minister invited His Royal Highness Prince Mohammed bin Salman to visit India for the third meeting of the Strategic Partnership Council.

     

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    MJPS/SR

    (Release ID: 2123658) Visitor Counter : 52

    MIL OSI Asia Pacific News –

    April 23, 2025

  • MIL-OSI Asia-Pac: Software launch of CGHS Digital Health Platform

    Source: Government of India

    Software launch of CGHS Digital Health Platform

    CGHS to launch modernized Health Management Information System (HMIS) from 28th April 2025; legacy system to be discontinued

    All CGHS services, including those at Wellness Centres, to remain closed on 26th April 2025 (Saturday) to facilitate the transition

    PAN-based beneficiary identification, real-time tracking, automated payment verification, and fully online application workflows introduced

    Legacy websites www.cghs.gov.in and www.cghs.nic.in to become non-functional; new portal launched at www.cghs.mohfw.gov.in

    CGHS mobile applications for Android and iOS re-launched with upgraded interface and integrated digital services

    Posted On: 23 APR 2025 11:41AM by PIB Delhi

    The Central Government Health Scheme (CGHS), a flagship programme under the Ministry of Health and Family Welfare, Government of India, is undergoing a major digital transformation with the launch of the next-generation Health Management Information System (HMIS). Developed by the Centre for Development of Advanced Computing (C-DAC), this comprehensive digital platform is scheduled to go live from 28th April 2025.

    The transformation is being implemented in view of the technical obsolescence of the existing CGHS software, which has been in use since 2005 and lacks compatibility with modern IT standards, cyber security frameworks, and user expectations. The revamped HMIS will enable faster, more transparent, and user-friendly access to CGHS services, ensuring improved service delivery and administrative efficiency.

    To ensure a seamless rollout, all CGHS services including those at Wellness Centres shall remain closed for one day on 26th April 2025 (Saturday). This temporary suspension is necessary to complete data migration, switch-over activities, and final validation.

    Key Reforms and Technological Advancements in the New CGHS HMIS

    1. PAN-Based Unique Identification of Beneficiaries
      • Every beneficiary will now be mapped to a unique PAN-based identifier. This will eliminate duplication of records and help in streamlining the validation process for entitlements.
    2. Integrated Digital Verification & Contribution Tracking
      • Contribution payments will now be auto-verified through direct integration (Line of Business Application Integration) with Bharat Kosh. There will be no manual choosing of options, entry of details on Bharat Kosh portal which shall eliminate errors and refund issues.
    3. Pre-payment Scrutiny of Applications
      • New system enables scrutiny and approval of card applications before the payment stage. This ensures that applicants are guided regarding eligibility and contribution amount before making a payment.
    4. Online Card Modification Services
      • Services like card transfers, change in dependent status, and category change (Serving to Pensioner, etc.) can now be initiated and completed entirely online.
    5. Real-Time Application Tracking and Alerts
      • The system will generate SMS and email alerts at each stage of application processing. This increases transparency and reduces in-person follow-ups.
    6. Mandatory Password Reset and Secure Access
      • All existing users will be prompted to reset their passwords on first login. This is being enforced as a cyber hygiene measure in accordance with MeitY security advisories.
    7. DDO/PAO-Based Department Identification
      • Department identity will be verified using Pay and Accounts Office (PAO) and Drawing and Disbursing Officer (DDO) codes, as indicated in employee salary slips. This ensures backend mapping of sponsoring authorities.
    8. Mobile Application Relaunch (Android & iOS)
      • The official CGHS mobile apps have been re-developed and now offer an enhanced beneficiary experience with:
      • Access to Digital CGHS Card
      • Real-time status tracking
      • E-referrals and appointment scheduling (where applicable)
      • Integrated contact with Helpdesk and AD Offices

    Legacy System Deactivation and Website Migration

    From 28th April 2025, the old CGHS websites www.cghs.gov.in and www.cghs.nic.in will be deactivated. All services and information will henceforth be hosted on the new unified CGHS Digital Platform at www.cghs.mohfw.gov.in.

    Beneficiaries are advised to access all online services, including registration, application, grievance redressal, and information retrieval, through this new portal only.

    All legacy beneficiary data, including medical history and pharmacy transactions, are being securely migrated, ensuring no loss of records. The transition complies fully with government data privacy and protection standards.

    Additionally, the department shall be onboarded on the new CGHS Platform for a paperless approval process. In the interim, departments may continue to submit applications physically at the respective CGHS Card Sections.

    Advisory for Beneficiaries and Departments

    • 28th April onwards, CGHS Contribution shall be only through CGHS Website i.e. www.cghs.mohfw.gov.in. The existing manual process of payment available on www.bharatkosh.gov.in shall discontinue from 28th April 2025.
    • Applications for CGHS services in progress but not paid for by 27th April 2025 will lapse. A fresh application will be required through the new portal.
    • All Beneficiaries aged above 18 years are advised to link their PAN Card with their CGHS Beneficiary ID and apply for corrections in case of any errors through the beneficiary login on CGHS website www.cghs.mohfw.gov.in.
    • Instructions shall be issued for the Departments regarding onboarding on the new platform.
    • The existing issued cards shall continue to function normally.

    Support initiatives include:

    • CGHS Helpdesk and User Manuals are available on the CGHS website www.cghs.mohfw.gov.in and mobile app for use by Departments and Beneficiaries.
    • Continuous support through the CGHS Card Sections and respective Additional Director (AD) Offices.

    *****

     

    MV

    HFW/CGHS HMIS Software Launch/23 April 2025/1

    (Release ID: 2123696) Visitor Counter : 46

    MIL OSI Asia Pacific News –

    April 23, 2025

  • MIL-OSI Europe: Written question – Specific action by the EU to ensure the security of supply of critical medicines – E-001492/2025

    Source: European Parliament

    Question for written answer  E-001492/2025
    to the Commission
    Rule 144
    Gerald Hauser (PfE)

    The increasing dependence of EU Member States on third countries – particularly China and India – for their supply of medicines is undoubtedly one of the biggest problems facing the health-care sector. Currently, around 80% of all active pharmaceutical ingredients come from these two countries. This is considered one of the main reasons for the growing number of supply shortages of medicines.

    The Critical Medicines Alliance, set up in January 2024, is a consultative body tasked with proposing how to secure the EU’s of supply of critical medicines, supporting efforts to effectively prevent and resolve shortages.

    • 1.What specific measures does the Commission intend to take to ensure that critical medicines and their raw materials are once again produced in sufficient quantities in the EU and that supply chains are truly diversified?
    • 2.What specific measures does the Commission intend to take to shield patients from the foreseeable price rises in critical medicines as a result of increased production in the EU and the diversification of supply chains?

    Submitted: 10.4.2025

    Last updated: 23 April 2025

    MIL OSI Europe News –

    April 23, 2025

  • MIL-OSI United Kingdom: Reeves: I will always act to defend British interests

    Source: United Kingdom – Executive Government & Departments

    Press release

    Reeves: I will always act to defend British interests

    Chancellor Rachel Reeves travels to Washington DC for her first spring meetings of the International Monetary Fund (IMF).

    The Chancellor has pledged to “stand up for Britain’s national interest”, as she heads to Washington DC for her first spring meetings of the International Monetary Fund (IMF).

    During a three-day visit to the United States, Rachel Reeves is set to hold meetings with G7, G20 and IMF counterparts about the changing global economy. She will make the case for open trade that provides stability for businesses and security for working people. The Chancellor will underline the importance of tackling barriers to trade to kickstart economic growth, supporting businesses and putting more money in working people’s pockets.

    Earlier this month the Chancellor announced over £400 million of trade and investment deals with the Indian Government across a range of business sectors, including defence, financial services, education, and development. In recent weeks the government has acted to save British Steel, safeguarding the future of steelmaking in the UK and protecting 2,700 jobs in Scunthorpe and up to 37,000 jobs in the wider supply chain, announced a £20 billion boost to UK Export Finance which will give thousands of British access to government-backed financing and announced new measures to give British car makers certainty and stability, and to support them on the transition to electric vehicles. Earlier this month over 3 million workers in shops, restaurants and workplaces across the UK received a pay boost worth £1,400 a year for an eligible full-time worker, while also rolling out free breakfast clubs in primary schools putting £450 a year in the pockets of working parents and protecting the payslips of working people from higher taxes.

    She will hold discussions with finance ministers about the opportunities to strengthen economic ties with Britain, including members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Talks with European finance ministers will also focus on going further and faster to increase defence spending and improve cooperation in response to continued Russian aggression and the invasion of Ukraine.

    Reeves will hold her first in person meeting with her US counterpart Treasury Secretary Scott Bessent about working together to deepen the UK-US economic partnership through a new trade agreement.

    In Washington, the Chancellor will also meet with business leaders to talk about the government’s Plan for Change to kickstart economic growth. She will champion Britain as the best place to live, work and grow a business, highlighting the government’s ambition to go further and faster to tackle the barriers to investment. By backing the builders not the blockers, through reforms to the National Planning Policy Framework – which alone is expected to deliver an extra 170,000 homes by 2029/30, as well upcoming the Planning and Infrastructure Bill and a government pledge to cut the administrative cost of regulation on business by a quarter, making Britain the best place to do business and drive economic growth.

    Speaking ahead of her visit, Chancellor of the Exchequer Rachel Reeves said:

    The world has changed, and we are in a new era of global trade. I am in no doubt that the imposition of tariffs will have a profound impact on the global economy and the economy at home.

    This changing world is unsettling for families who are worried about the cost of living and businesses concerned about what tariffs will means for them. But our task as a government is not to be knocked off course or to take rash action which risks undermining people’s security.

    Instead, we must rise to meet the moment and I will always act to defend British interests as part of our Plan for Change. We need a world economy that provides stability and fairness for businesses wanting to invest and trade, more trade and global partnerships between nations with shared interests, and security for working people who want to get on with their lives.

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    Published 23 April 2025

    MIL OSI United Kingdom –

    April 23, 2025

  • MIL-OSI: MEXC Exchange Report Shows Airdrops Resulting in Up to 35% New User Registrations

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, April 23, 2025 (GLOBE NEWSWIRE) — A report released by MEXC, a leading global crypto exchange, indicates that airdrop campaigns account for approximately one-third of new user registrations during peak months. The numbers showcase the effectiveness of airdrops as a marketing instrument that crypto projects can leverage to attract new audiences and bootstrap engagement. The report also highlights the importance of ongoing structural shifts taking place in the industry across regions, as well as user motivation swings.

    Key Takeaways:

    • Peak user acquisition rates driven by airdrops reach up to 35% in certain months.
    • User behavior is influencing airdrop campaign participation through deeper mobile penetration and the involvement of gamification mechanisms.
    • 76% of users who sign up via airdrop campaigns remain on the platform, with 18% becoming active traders and 58% trading occasionally.
    • The CIS region leads in terms of involvement at 67%, followed by Southeast Asia at 51%, and South Asia at 32%.
    • Airdrops are evolving into a means of financial inclusion, in addition to acting as an effective marketing instrument.

    MEXC analyzed user behavior during airdrop campaigns and identified a significant shift in the audience. While regions with low levels of access to banking services previously served as the main source of airdrop participants, the latest report indicates that new channels of user onboarding are ousting the trend. Gamification and Tap-to-Earn games in mobile-based Telegram channels are taking center stage as key registration sources for users with no previous experience in crypto. For instance, games like Hamster Kombat attracted over 70 million users, other notable examples of similar grade being Notcoin and Yescoin.

    According to the data compiled as a result of the research, users who received their first airdrop tokens demonstrated varying degrees of continued involvement in the crypto industry. As many as 18% maintained active trading patterns and delved deeper into crypto services, 58% traded occasionally, while 24% were one-off users, withdrawing their funds without further engagement in trading. The users who evolve into active traders showcase an average daily trading volume above $58,000, with select ones achieving $31 million.

    Regional segmentation of the users attracted via airdrops shows that the CIS is in a leading position, with 67% of the total, followed by Southeast Asia at 51%, and South Asia with 32%. The results of the analysis correlate with low levels of access to banking services in the given regions. They also align with data provided by Chainalysis, which positioned India, Vietnam, and the Philippines as the countries in Asia with the highest rates of crypto adoption, driven by low levels of banking services access and rapid spread of internet coverage in rural areas.

    The limited financial inclusion of the countries in the indicated regions into the international banking system paves the way for cryptocurrencies to act as alternative means of payment both abroad and within domestic economies. Users participating in airdrops either withdraw them to fiat or use them for their needs. Pakistan and the Philippines are leading in this regard.

    The report released by MEXC highlights the prominent role airdrops are occupying in the evolving crypto landscape, transforming from a marketing action into a separate instrument for user engagement. The ability to attract 35% new user registrations via airdrops in select regions like the CIS and Asia is a powerful factor acting in favor of using the given approach to expanding the crypto industry and advancing its maturity.

    About MEXC

    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

    For more information, visit: MEXC Official Website | X | Telegram | How to Sign Up on MEXC
    For media inquiries, please contact MEXC PR Manager Lucia Hu: lucia.hu@mexc.com

    Source

    Disclaimer: This press release is provided by the MEXC. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.

    Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/39d569ad-f949-4d60-af4a-a3cdf668d85d

    The MIL Network –

    April 23, 2025
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