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Month: December 2024

Governance

India’s Trade Surges by 5.45% in H1 2024 Amid Global Challenges: NITI Aayog Report

Observenow Desk December 5, 2024

India’s trade landscape continues to adapt to global opportunities and challenges, with total trade reaching $576 billion in the first half (H1) of 2024, marking a year-on-year (y-o-y) increase of 5.45%, according to the NITI Aayog Trade Watch report released on Wednesday.

Exports climbed by 5.41% y-o-y to $231 billion, while imports rose by 5.48% to $345 billion, reflecting steady growth despite a widening trade imbalance. In Q1 FY25 (April-June), merchandise exports grew by 5.95% to $110 billion, and imports surged by 8.40% to $173 billion, driven by high-value commodities such as aircraft, mineral fuels, and vegetable oils.

The report noted significant declines in key sectors, with iron and steel exports plummeting 33%, largely attributed to weak domestic demand and overcapacity in China. Additionally, exports of natural and cultured pearls also saw a decline.

Services exports, however, delivered a promising surplus, contributing positively to the trade balance. The 40-page report provides a comprehensive overview of India’s trade dynamics, analyzing global demand-supply trends, sectoral performances, and emerging opportunities.

As India’s trade performance demonstrates moderate yet stable growth, the report underscores the need for strategic focus on high-potential sectors to further strengthen the country’s trade position in a rapidly evolving global economy.

Tags: NITI Aayog

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Cybersecurity

India Emerges as the Top Global Target for Mobile Malware Attacks: Zscaler Report

ObserveNow Media December 4, 2024

In a stark revelation of evolving cybersecurity threats, Zscaler has published its ThreatLabz 2024 Mobile, IoT, and OT Threat Report, highlighting India’s emergence as the world’s primary target for mobile malware attacks. The report, which analyzed data from June 2023 to May 2024, reveals that India accounted for 28% of global mobile malware attacks, surpassing the United States (27.3%) and Canada (15.9%). This leap from being the third-most targeted country last year underscores an urgent call for stronger cybersecurity measures in India’s rapidly digitizing economy.

Within the Asia-Pacific (APAC) region, India represents 66.5% of mobile malware targets, a figure that underscores the region’s vulnerability. This surge has coincided with a rise in sophisticated phishing campaigns targeting Indian users, particularly those of major private banks. The report highlights that three of the five largest private banks in India have become prime targets, with cybercriminals deploying fake banking websites that closely mimic genuine ones to deceive mobile users into surrendering sensitive financial data.

Despite these challenges, India has made strides in reducing outbound cyber threats. The country ranked 7th in APAC as a malware origin point, improving from its previous 5th place. Singapore, China, and South Korea continue to lead in originating malware.

“Legacy systems and unprotected IoT/OT environments are becoming prime targets for cybercriminals,” noted Suvabrata Sinha, CISO-in-Residence, India at Zscaler. “We see a significant rise in hacking campaigns targeted at these environments. Indian enterprises must adopt a robust Zero Trust security framework to secure their core operational environments. This will not only protect critical systems but also ensure business continuity in an increasingly connected world.”

On a global scale, the report highlights the pervasive nature of cyber threats. Over 200 malicious apps with 8 million collective installs were identified on the Google Play Store. Additionally, the Zscaler cloud observed a 45% year-over-year increase in IoT malware transactions, driven by the proliferation of botnets targeting IoT devices.

“Cybercriminals are increasingly targeting legacy exposed assets which often act as a beachhead to IoT & OT environments, resulting in data breaches and ransomware attacks,” said Deepen Desai, Chief Security Officer, Zscaler. “Mobile malware and AI-driven vishing attacks add to that list, making it critical for CISOs and CIOs to prioritize an AI-powered Zero Trust solution to shut down attack vectors of all kinds, safeguarding against these attacks.”

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Education

Allen Career Institute Eyes $800 Million Acquisition of Unacademy

ObserveNow Media

Reports indicate that Allen Career Institute is on the verge of acquiring Unacademy, one of India’s edtech giants, for $800 million. This potential deal marks a striking turn for Unacademy, which was valued at $3.4 billion in 2021, underscoring the challenges edtech startups have faced in the post-pandemic era.

The acquisition, facilitated by investment banks navigating complex share swap arrangements, highlights a pragmatic survival strategy in a competitive market. For Allen, a leader in traditional coaching, the move is a strategic expansion into the digital learning space, leveraging Unacademy’s advanced technological ecosystem and extensive user base.

This deal gains further significance with the involvement of Bodhi Tree Systems, led by media veterans Uday Shankar and James Murdoch, reflecting the high stakes and strategic depth behind the merger.

Notably, Unacademy’s founders—Gaurav Munjal, Roman Saini, and Sumit Jain—are expected to step away from leadership roles, marking a poignant conclusion to their entrepreneurial journey. The company has endured a period of intense cost-cutting, including layoffs and executive departures, as it grappled with shifting market dynamics.

The deal also highlights a reversal of roles in the education sector. Once disruptive forces, startups like Unacademy are now being integrated into legacy institutions like Allen, which are leveraging digital innovation to reinforce their dominance. This reflects a maturing industry where operational stability and traditional expertise are becoming as critical as cutting-edge technology.

Unacademy’s evolution, from a celebrated startup to an acquisition target, epitomizes the volatility of India’s tech ecosystem. Controversies like the luxury-brand t-shirt incident during a cost-cutting announcement by CEO Gaurav Munjal illustrate the cultural challenges faced by new-age companies.

Strategically, the merger represents more than a financial transaction—it signifies a new chapter for Indian edtech. By combining Unacademy’s tech prowess with Allen’s coaching legacy, the partnership could create a dominant force in the sector.

For the broader edtech landscape, this potential acquisition signals a turning point. With Unacademy potentially being absorbed, only Vedantu and ClassPlus remain as significant independent players, as legacy institutions like Allen and Aakash solidify their control over the sector’s future.

As negotiations unfold, one takeaway is clear: the future of Indian education will depend on seamlessly integrating digital innovation with traditional educational expertise.

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Education

IIT Kharagpur Hosts Entrepreneurship Awareness Drive and Local Startups Meet 2024

Observenow Desk

IIT Kharagpur’s Entrepreneurship Cell recently concluded its flagship initiatives, the Entrepreneurship Awareness Drive (EAD) and Local Startups Meet (LSM) 2024, aimed at bolstering India’s entrepreneurial ecosystem. The events created a dynamic platform for aspiring entrepreneurs, industry leaders, and professionals to engage in meaningful discussions, networking, and collaboration.

The 16th edition of EAD and the 7th edition of LSM drew participation from over 25,000 students across India, with more than 90 eminent guest speakers sharing their expertise. Notable speakers included Monish Darda (CTO, Icertis), Amitesh Saha (VP, Vedanta Group), Harsimarbir Singh (founder, Pristyn Care), Faizal Khan (YouTuber and educator), Harish Mehta (cofounder, NASSCOM), Nagraj Prakasam (Indian Angel Network), and Amrita Siroha (cofounder, INDmoney). Their insights offered attendees valuable perspectives on navigating the entrepreneurial journey.

The event also showcased over 1,000 innovative startups, presenting their groundbreaking solutions and business models. These exhibits provided attendees with a glimpse into the latest trends and opportunities within India’s startup landscape.

Supported by partners like Krafton as the title sponsor, along with Flashaid, NTPC, Veedol, and others, the month-long event extended its reach to more than 30 cities across India, including Delhi, Mumbai, Pune, Ahmedabad, Chennai, and Kochi. The event also featured collaborations with pTron (audio wearable partner), The Business Scan (title media partner), and Inc42 (startup media partner).

EAD-LSM 2024 underscored IIT Kharagpur’s commitment to fostering entrepreneurial growth, inspiring innovation, and nurturing the next generation of Indian startups.

Tags: Entrepreneurship Awareness DriveIIT Kharagpur

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Education

UGC Unveils Revolutionary Curriculum Framework for PG Programmes Under NEP 2020

Observenow Desk

The University Grants Commission (UGC) has introduced a transformative curriculum and credit framework for postgraduate (PG) programmes as part of the National Education Policy (NEP) 2020.

This initiative aims to modernize higher education in India by offering students flexible academic pathways, interdisciplinary learning opportunities, and industry-aligned curricula. The framework seeks to align postgraduate education with global trends, equipping learners with the skills and expertise needed for emerging career opportunities.

A key highlight of the framework is its flexible structure, designed to accommodate students from diverse educational backgrounds. Those with a three-year Bachelor’s degree can pursue a two-year PG programme, with the second year dedicated to research. Students with a four-year Bachelor’s degree are eligible for a one-year PG programme, while integrated five-year Bachelor’s/Master’s courses offer a seamless transition from undergraduate to postgraduate studies.

The curriculum has been revamped to meet contemporary needs, focusing on cutting-edge fields such as Machine Learning, AI applications, healthcare, law, and other professional domains. These additions aim to prepare students for the demands of modern industries while fostering interdisciplinary learning. The updated credit system maps PG degrees to Levels 6, 6.5, and 7 of the National Higher Education Qualifications Framework (NHEQF). Features like multiple entry-exit points, credit transfers, and the Academic Bank of Credit system provide students with greater flexibility and mobility in their educational journey.

Another significant aspect of the framework is its emphasis on personalized and cross-disciplinary learning. Students can design their academic pathways by choosing courses across disciplines, promoting holistic development. Additionally, eligibility for PG programmes will depend on undergraduate performance and entrance exams, ensuring alignment with students’ academic focus and professional aspirations.

In response to the growing demand for flexible education, the framework supports expanded online learning options. Students can enroll in multiple degree programmes simultaneously, access quality education from remote locations, and diversify their skill sets. Furthermore, a groundbreaking feature allows students to convert relevant professional work experience into academic credits, bridging the gap between theoretical knowledge and practical expertise while reducing the time needed to complete degrees.

Advanced courses offer a blend of theoretical and practical learning, with research-focused modules encouraging innovation and critical thinking. To maintain academic integrity, the framework includes rigorous assessment methods, anti-plagiarism measures, and robust grading systems, ensuring quality education at every stage.

This comprehensive framework under NEP 2020 represents a bold step towards reimagining postgraduate education in India. By integrating modern academic practices and fostering a learner-centric approach, it aims to equip students with the tools necessary to thrive in an evolving global landscape.

Tags: National Education PolicyNEP 2020PG ProgrammesUGC

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Governance

Vikram Saxena Appointed as the Director (Technology & Field Services) at ONGC Limited

Observenow Desk

Vikram Saxena has been named the next Director (Technology & Field Services) at ONGC Limited, a Maharatna Public Sector Undertaking under the Ministry of Petroleum and Natural Gas. The announcement came from the Public Enterprises Selection Board (PESB) following its 94th selection meeting on December 1. Saxena, currently Group General Manager at ONGC, was chosen from a pool of ten candidates interviewed for the role.

As Director (Technology & Field Services), Saxena will join ONGC’s Board of Directors and report directly to the Chairman and Managing Director (CMD). His role will encompass overseeing the design, engineering, and construction of critical infrastructure such as offshore and onshore facilities, pipelines, and plants. Additionally, he will manage technical support and maintenance operations, ensuring seamless and secure operations across ONGC’s installations.

This position is pivotal to ONGC’s strategic goals, as it strives to bolster energy production, enhance efficiency, and maintain robust infrastructure. Saxena’s technical acumen and extensive experience within ONGC played a significant role in his selection, reflecting the PESB’s rigorous evaluation standards for PSU leadership appointments.

His tenure aligns with ONGC’s focus on leveraging innovation and technical expertise to sustain its leadership in India’s oil and gas sector. Saxena’s appointment awaits approval from the Ministry of Petroleum and Natural Gas and the Appointments Committee of the Cabinet (ACC).

Tags: Ministry of Petroleum and Natural GasVikram Saxena

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Cybersecurity

Study Highlights at least 20% Cybercrime in India Linked to Dark Web

Observenow Desk

A recent study by Gurugram-based cybersecurity firm Lisianthus Tech has revealed that at least 20% of cybercrimes in India involve the use of the dark web, a hidden segment of the internet accessible only through specialized tools, making it difficult to trace users’ identities and locations.

According to Khushhal Kaushik, founder and CEO of Lisianthus Tech, the dark web is increasingly used by online attackers for illicit activities such as data breaches, hacking, phishing, ransomware attacks, identity theft, and the trade of banned items like narcotics and weapons.

The study, which spanned two months and concluded last week, analyzed a sample of cybercrime cases reported across the country. Data was sourced from state police, the National Crime Records Bureau, and other relevant portals. Industry experts, cybersecurity consultants, and law enforcement representatives also contributed to the analysis, Kaushik said.

Highlighting the alarming trend, Kaushik cited recent incidents, including the arrest of a man cultivating and selling cannabis via the dark web and a ransomware attack targeting AIIMS in Delhi last year.

The report also noted that dark web usage has doubled over the past decade. To mitigate risks, the study advised users against granting permissions to online notifications seeking access to their phonebook or other applications.

Lisianthus Tech specializes in cybersecurity audits and security assessments, focusing on enhancing digital safety in an era of growing cyber threats.

Tags: cybercrimecybersecurityLisianthus Tech

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Governance

ObserveNow Concludes 4th Digital Bharat Summit: Paving India’s Path to a Smarter, Safer & Sustainable Digital Future

Siddharth Mala

ObserveNow Media successfully concluded the 4th Edition of the Digital Bharat Summit on November 29, 2024, at Hotel Eros, New Delhi. Powered by Omnissa, the event revolved around the theme “Empowering a Digital India: Innovations for a Smart Future” and attracted over 40+ eminent speakers, 120+ industry leaders, and professionals from across sectors. With five engaging sessions, the summit offered unparalleled networking opportunities and thought-provoking discussions, setting a new benchmark for insights into India’s digital governance landscape.

The day commenced with a welcome address by Taniya Tikoo, Co-founder & Editor-in-Chief, ObserveNow. She emphasized how India is accelerating its journey toward the Digital India initiative, highlighting its transformative impact across sectors. Taniya spoke about India’s strides in leveraging emerging technologies to empower citizens, modernize governance, and bridge socio-economic divides. Her remarks set an optimistic tone for the event, acknowledging India’s leadership in embracing digital technologies while also emphasizing the need for continuous innovation and inclusivity.

The inaugural session, “Digital India: Vision for the Future,” featured distinguished speakers, including Abhishek Singh, IAS, Additional Secretary, Ministry of Electronics & Information Technology, Government of India; H.E. Freddy Svane, Ambassador of Denmark to India; Dr. Per-Arne Wikström, Counsellor Innovation and Science Office, Embassy of Sweden, and Umesh Goel, Pre-Sales Head, India, Omnissa. Abhishek Singh highlighted India’s achievements during its G20 presidency, positioning its digital public infrastructure as a global model for inclusive growth and resilience. Freddy Svane lauded India’s initiatives in empowering rural communities through digitization while emphasizing the importance of global partnerships to address emerging vulnerabilities. Dr. Wikström stressed the importance of ethical AI, inclusivity, and transparency in technology adoption. Meanwhile, Umesh Goel addressed pressing data security challenges, urging businesses to adopt innovative solutions for safeguarding critical data assets and enhancing trust in digital ecosystems.

Sanjeev Kumar Gupta, CEO of Karnataka Digital Economy Mission, delivered a compelling keynote address, stating, “No other country is growing as rapidly as India. The next decade belongs to us.” He highlighted India’s demographic advantage and the burgeoning digital economy, emphasizing its position as the third-largest startup ecosystem globally. He also underscored how government initiatives like India Stack and advancements in AI, blockchain, and IoT are catalyzing the nation’s transformation into a global digital powerhouse.

The first panel discussion, “Bringing New India with Technology Modernization,” moderated by Vinay Vashista, Associate Director, Cyber and IT Risk, Grant Thornton Bharat, explored the evolving IT landscape. The panel featured experts like Dr. Anita Gupta, Adviser, Department of Science & Technology, Government of India; Dr. Sanjeeb Patjoshi, IPS, Director General, Housing & Construction, Government of Kerala; Vinit Goenka, Secretary, Center for Knowledge Sovereignty (CKS); and Sanjay Kumar Das, Additional Secretary, IT & Electronics, Government of West Bengal. Discussions ranged from the convergence of technology in governance to the critical need for zero-trust systems, sustainable technology integration, and fostering innovation hubs.

In his keynote address, Sanjay Kumar Das, Additional Secretary, IT & Electronics, and State Information & Security Officer & Managing Director, WEBEL, highlighted the growing significance of device-level security in an increasingly interconnected world. He reflected on the rapid evolution of technology, noting that while a decade ago, individuals typically had just one connected device, today, most possess at least two, both reliant on internet connectivity. Stressing the importance of redundancy, Das advocated for every telecom connection to include internet access, ensuring seamless functionality. He underscored the urgent need for robust exposure management strategies to safeguard these connections against potential vulnerabilities, emphasizing their critical role in the digital age.

In the second panel, “Digital Transformation for Effective Governance Through Emerging Technologies,” moderated by Abhishek Vashisth, Director, EY Centre of Excellence, speakers including Gaurav Joshi, Deputy Secretary, Ministry of Heavy Industries, and V Srikanth, CEO, ICT Academy, emphasized the transformative role of emerging technologies in policy-making, governance, and bridging the digital divide. Santulan Chaubey, Joint Director, Department of IT, Government of Delhi, and Pratik Mohapatra, Joint Director, STPI, highlighted the importance of capacity building, automation, and transparency in fostering trust with citizens. They also discussed best practices for inter-departmental collaboration and empowering public sector employees with modern tools.

Dr. Alok Kumar Gupta, Deputy Director, Ministry of Education (MoE), Government of India, delivered a thought-provoking address on “Sustainable Inclusive Learning with Universal and Flexible Access to Quality Education and Skill Development.” He emphasized the transformative potential of the National Education Policy 2020 in reshaping India’s education landscape. Dr. Gupta highlighted the challenges and opportunities associated with implementing key reforms, particularly in higher education, to ensure equitable and accessible learning for all. He also underscored the importance of fostering skill development to prepare the workforce for a rapidly evolving global economy, emphasizing that these reforms are pivotal in creating a future-ready, inclusive educational ecosystem that aligns with India’s vision of sustainable growth.

The third panel, “Digitally Resilient Indian Smart Cities of Tomorrow,” moderated by Sunny Kapoor, Director, EY, showcased insights from leaders like Syeda Afreen Banu S. Bellary, Managing Director, Belagavi Smart City; Veereshkumar, Managing Director, Davanagere Smart City; and Pradeep Kushwaha, General Manager, NEC Corporation India. The discussions emphasized integrating advanced technologies into urban governance to create adaptive, inclusive, and sustainable smart city ecosystems. They further elaborated on how data-driven decision-making can optimize resources and improve the quality of life for citizens.

L. Ramadevi, Director, Emerging Technologies, Department of Information Technology, Electronics & Communications, Government of Telangana, delivered a special address outlining the state’s vision for adopting emerging technologies such as AI, IoT, and blockchain. Telangana’s initiatives, including Centers of Excellence and the goal of positioning Hyderabad as a top global AI innovation hub, were highlighted as key drivers of digital transformation. She also stressed the need for public-private partnerships to scale these technologies for societal benefit.

The final panel, “Cybersecurity and Safeguarding Data Privacy in Public Sector Organizations,” moderated by Kanishk Gaur, Founder, India Future Foundation, underscored the paramount importance of cybersecurity. Panelists such as Alok Shankar Pandey, CISO, Dedicated Freight Corridor Corporation of India, and Nagendra Pratap Singh, General Manager, Indian Oil Corporation, emphasized creating a culture of trust and resilience while fortifying public sector data. Other notable contributors included Anand Singh Chandel, RailTel, and Sandeep Sood, CISO, HUDCO, who discussed proactive strategies to address vulnerabilities in safeguarding citizen data and ensuring compliance with global standards.

The 4th Edition of the Digital Bharat Summit successfully brought together thought leaders, policymakers, and industry experts to pave the way for a digitally empowered India. The event underscored the importance of collaboration, innovation, and resilience in shaping the nation’s digital future.

Tags: 4th Digital Bharat Summitcybersecurity

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Digital Native

AdvantageClub.ai Secures $4M in Funding to Expand in the US and Asia, Introduce New Product Lines

Observenow Desk

AdvantageClub.ai has raised $4 million in a funding round led by Axilor Ventures. Other participants included AFG Ventures, Bytez Ventures, former Rippling CTO Prasanna Sarkar, and existing investors. This latest round brings the company’s total funding to $11 million.

The funding will fuel AdvantageClub.ai’s expansion efforts in the US and Asia, markets where it has already gained significant traction. Additionally, the company plans to enhance its product suite in employee recognition, rewards, and engagement, with innovative AI-driven tools and features designed to elevate the employee experience.

CEO and Co-founder Sourabh Deorah expressed enthusiasm for the fresh investment, stating, “This funding allows us to intensify our presence in key markets and further develop our AI-powered solutions like Adva to redefine employee engagement.” COO and Co-founder Smiti Bhatt Deorah highlighted their strong market position, noting, “Our employee-first approach ensures we secure 65-70% of new recognition deals in Asia, and we’ve made significant inroads in the US.”

Ganapathy Venugopal, CEO of Axilor Ventures, lauded AdvantageClub.ai’s impact, stating, “Employers seeking to enhance engagement and strengthen their brand find a scalable, global solution in AdvantageClub.ai. We’re thrilled to support their next growth phase.”

The company’s plans signal a commitment to transforming employee engagement on a global scale while delivering personalized, scalable solutions for businesses worldwide.

Tags: AdvantageClub.aiFUNDING

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Trending

Uber Launches India’s First Water Transport Service in Srinagar’s Dal Lake

Observenow Desk

In a groundbreaking move, cab aggregator Uber has introduced its first water transport service in India, offering shikara rides on the serene waters of Dal Lake in Srinagar.

Users can now book the traditional Kashmiri boats through Uber’s digital platform, marking the launch of Asia’s first Uber water transport service, inspired by similar initiatives in European cities like Venice.

The service, dubbed Uber Shikara, begins with a fleet of seven shikaras and plans to expand based on demand. Shikaras, iconic wooden boats symbolic of Kashmiri culture, are primarily used for tourism, providing scenic rides on Dal Lake. Each shikara typically accommodates six passengers, with a boatman guiding it from the back.

Dal Lake, often referred to as “Srinagar’s jewel,” is a major tourist destination and the second-largest freshwater lake in Jammu and Kashmir. It plays a vital role in the region’s economy, supporting tourism, recreation, and commercial activities.

Uber Shikara rides operate between 10 AM and 5 PM for one-hour sessions, accommodating up to four passengers per ride. Bookings can be made up to 15 days in advance, with a minimum notice period of 12 hours.

Wali Mohammad Bhatt, president of the Shikara Owners Association, welcomed the initiative, noting that Dal Lake is home to approximately 4,000 shikaras and expressing hope for more partnerships with Uber in the future.

Tags: Dal LakeUber

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