Indian Science : CoVID and Beyond

Pandemic has brought world’s attention to India’s capabilities in R&D as well as gigantic implementations. India seems to be on an inventing spree. Not just CoVID vaccines but many more scientific collaborations and discoveries are taking place in research departments, and various scientific institutions across the country. The splendid pace at which the work is carried out, combined with the unicity of ideas and innovations, is making India shine globally as a scientific exploration marvel.

In a bid to inculcate new technology in the ecosystem and to make India – aatmanirbhar – a self-reliant nation in power transistor technology, Indian scientists and researchers very recently developed a device which will be useful in space and defense applications requiring high voltage and high-frequency switching. The device, which is made from Aluminium gallium nitride, is called High Electron Mobility Transistors (HEMTs). In yet another recent discovery, a new exoplanet i.e. a planet outside our solar system was discovered by Indian Space scientists. The study, carried out at Physical Research Laboratory (PRL), Ahmedabad, found the exoplanet’s mass to be 70% and size about 1.4 times that of Jupiter. This exoplanet is orbiting too close to an evolved or ageing star with a mass of 1.5 times that of the Sun and is located 725 light-years away. According to the Indian Space Research Organisation (ISRO), the detection of such a system contributes in enhancing the present understanding of various scientific mechanisms.

India is even embarking on space diplomacy like never before. ISRO is set to launch a Bhutanese satellite, which has been built by Bhutanese engineers that were trained by ISRO. “This is India’s gift to Bhutan as part of the space diplomacy initiatives put in place by Prime Minister Narendra Modi. We’re helping their personnel to build the nano satellite which will be used for imaging purposes. It will be launched on the PSLV carrying EOS-6. The mission will also launch the Pixxel satellite, ” ISRO Chief K Sivan had remarked. Similarly, at COP 26 (held at Glasgow, Scotland), Prime Minster Narendra Modi announced a special data window for Small Island Developing States (SIDS) to be built by ISRO. With this, SIDS will continue to receive timely information about cyclones, coral-reef monitoring, coastline monitoring, etc. via satellite. “No one has remained untouched by the wrath of climate change,” PM Modi had said while launching the initiative.

Moreover, continuous efforts have also been made to develop and enhance scientific temper among students, scholars and young researchers. The recent launch of the first-of-its-kind Virtual Science Lab for children under the CSIR Jigyasa program exemplifies this. The initiative will connect students with scientists across the country.

 

LIC : Most awaited IPO

As we look towards the most important budget of PM Narendra Modi’s second term, target of double digit growth rate is essential for generating sufficient jobs, quickly recovering from pandemic induced slowdown and achieving bigger goal of prosperity for all. One of the most important requirements for this is significant increase in the investment rate as measured by gross fixed capital formation (GFCF). In these COVID times, this increase has to be led from front by the Government in the form of public investment. Government savings have to move into positive territory. This need of sharp increase in investment-to-GDP ratio will require significantly higher resource mobilization efforts.

Even though government’s disinvestment plans for Air India, BPCL and Concor kept on getting pushed ahead due to COVID, for LIC, the recent appointments of Edelweiss Financial Services Limited and Deloitte as pre-IPO advisors, the process has started to pick up some speed. This is one of the most awaited IPOs in 2022. The LIC IPO is likely to cover more than a third of the government’s budgeted disinvestment target of ₹2.10 lakh crores this fiscal year.

With around 70% market share of Life Insurance business in the country, LIC is way ahead to any other of 23 players in the Industry. IRDA has reported significant increase in the premium collection by LIC which is nearing ₹1.8 lakh crores. Presently, government holds 95% stake in LIC whose total assets are worth ₹34 lakh crores. Regarding the IPO, since the DRHP (draft red herring prospectus) hasn’t been filed till now, the price band for the IPO is not known as yet. But the issue price is generally announced around a week before the shares are open for subscription by the public.

PM Modi has talked about wealth creation as the area of focus of sabka prayas and this IPO will help retail investors while bringing transparency in the management of LIC. As sale is of less than 10% stake, which allows control with the government itself, hence allaying any chances of adverse impact of IPO on existing stakeholders in general and especially all policyholders. Further, this will bolster the confidence of BFSI sector in post-covid world, which is essential for capital formation and credit flow in the country.

Reviving the might of Meerut

The earliest mentions about Meerut can be traced in Ramayana, where the land used to be known as “Maya Rashtra”, or the capital of May danav, the King of the demons. His daughter Mandodari became the queen consort of Ravana of Lanka. Close to Meerut’s Northeast, is a place where the remains were found of the ancient city of Hastinapur, the capital of Pandavas of Mahabharata, which was washed away by Ganges floods. The city also contained a Harappan settlement known as Alamgirpur, which was believed to be the easternmost settlement of the Indus valley civilisation. The land had been a centre of Buddhism too, during the reign of the Mauryan Dynasty. Having been at the center point location of northern India, it has also witnessed muslim conquests between 11th-17th century AD incessantly. Finally, during the British Raj, it is from here that the Indian Rebellion of 1857 against the British East India Company, was started. This first war for Independence gifted an immortal fame for the city. But the damage this land witnessed for decades because of the frequent riots later on, left the city dry and dreaded.

This disturbed perspective about the city started to change after 2014, when the present government saw the potential of Meerut to become the super-district of UP. The city is on the wheels of unprecedented development since then, with mega projects like Rapid Rail, expressways, IT HUBs, sports facilities being inaugurated and planned. The construction of the ambitious Delhi-Meerut Rapid Rail Transit System is being done with a power-pace across the district.

The Ganga Expressway (594 km in length) project is also in the pipeline, which will directly connect Meerut (Western UP) to Prayagraj (Eastern UP). Work is also underway for the establishment of an IT Park in the city, land (~2.5 Acre) for which has already been provided by the Meerut Development Authority. All these projects are not only going to give a boost to employment, but will also strengthen connectivity.

The foundation-laying ceremony of the ‘Major Dhyan Chand Sports University’ in Meerut, by Prime Minister Narendra Modi himself, is an example of this. After almost three decades, the city had the privilege of welcoming India’s Prime Minister (fourth time) on its soil. The first PM to visit the city was Jawahar Lal Nehru, followed by Indira Gandhi and later, Chandrashekar Singh in 1990-91.

Meerut, already popular as the world’s manufacturing hub for top quality cricket goods, had provided the shot puts and javelins that Swapna Barman (heptathlon), Tajinderpal Singh Toor (shot put) and Neeraj Chopra (javelin throw) used to win their gold medals in 2018 Asian Games. With the opening of this sports university, Meerut will have all the tools to not just cater to sports industry and businesses, but also provide a strong, accessible platform to many sports enthusiasts in the region. The sports goods export share of the city already closes to one-third of the total figure. In addition to this, a combination of world-class sports equipments and intense all-sports training environment at the new university, holds a potential to change the sports landscape of not just the city, not just the region, but of the entire country.

Another outcome of such a developmental expansion is the employement and encouragement among the youth, belonging not just to Meerut but to nearby villages, sister-towns and neighbouring districts.

It is rather interesting to see how the land of Meerut, that has held significance in the ‘Treta’ Yug, the ‘Dwapar Yug’, the Harappan era, and the colonial era, is shaping up in the New Modern India.

 

Decisive Decade of Growth

Atmanirbhar Bharat is shaping up as a mass movement in a similar manner to Namak Satyagraha. This clarion call from PM Narendra Modi backed by reformist attitude towards Governance has put India on a path of Decisive Decade of Growth in 2020s (DDG). Sabka Prayas is becoming the operative word towards employment and wealth generation by start-ups across the country. Achieving saturation i.e. covering 100% of population is the new mantra of the Government, which is also playing pivotal role for supporting start-up mindset. On 75th Independence Day, PM Modi had said, “Just as we have made electricity accessible to 100% households, and have made authentic efforts to construct toilets in 100% households …Now, we have to move even further. 100% villages should have roads, 100% households should have a bank account, 100% beneficiaries should have Ayushman Bharat card, 100% eligible persons should have gas connection under Ujjwala scheme and 100% beneficiaries should have Aawas…”

PM Modi had promised, “Our priority will be to ensure that the services reach the last person seamlessly. For the all-round development of the nation, it is essential to end the unnecessary interference of govt and government procedures in the lives of people.” In spite of continued hindrances to legislative work of Parliament, ease of doing business has remained key delivery domain of Modi government. Not less than 1500 old and obsolete laws have been repealed since 2014. Now, India has emerged as world’s 3rd largest start-up ecosystem with around 61,000 start-ups recognised by DPIIT. Though these are clustered around Bengaluru, Delhi and Mumbai, the spread is across 600+ districts of the country. Number of investors has grown 9 fold, total funding amount as well as available incubators have grown 7 fold. These are indeed exponential growth parameters.

Year 2022 of this Decisive Decade of Growth is all set to build upon the recent success. While China was slated to win growth story in 2021, India’s resilience is on display in combating devastating second wave and emerging as the fastest growing major economy globally in 2021. Building on the mantra of Atmanirbhar Bharat, India has added 44 unicorns in 2021 alone, bringing the total number to 81. This exponentially growing number of unicorns is not only backing innovative solutions but also large scale deployments.

 

VIVEK – New India: Modernity meets Tradition

Vivek or the ability to discriminate operates at two levels – between wrong-right and between temporary-permanent. Usual definition of Vivek is in the context of knowing what needs to be done and what doesn’t. When more and more members of a society do what is right then it’s a modern developed society. Yardstick to measure this is harmony among various interest groups of society.

In 2021 India has reached a level of self belief under the able leadership of Prime Minister Narendra Modi where this poor country is not only achieving its emission targets before time but also showing the biggest polluters or so called advanced economies mirror at world stage. India has reached a level of self sufficiency or Atmanirbharta where this poor country has not only vaccinated a large population but also donated huge amount to other needy countries in the world. Knowing what needs to be done given the time, role And place is perhaps the best display of Vivek which is also called following one’s dharma in other words.

Then there is this ability to discriminate or Vivek in regards to the biggest question of life, who we are. What is permanent and what is temporary? Aatma or soul is the name given to the permanent aspect of us and Anaatma or Maya is the name given to the material or temporary aspect of us. Every living creatures experience of non-dying or tendency to ignore death all around and yet longing to be here permanently stems from the permanent aspect of its being.

The material aspect of every being is continuously changing. Millions of cells are dying and regenerating continuously, thoughts and emotions too are changing continuously. The ability to discriminate between the permanent and changing aspects of one’s life is true Vivek as defined by Aadi Shankaracharya in life changing book Vivekachudamani (crown jewel of Intellect). In November his 12-foot statue at Kedarnath was inaugurated by PM Modi who declared “India now aims high”. He said that Indian philosophy talks about human welfare, sees life in a holistic manner as projects worth ₹130Cr were also launched alongside.

There is a certain sense of hypocrisy when so called right-wing grossify and limit all pervading permanent aatma to only temples etc. Some of my friends on left wing are more honest though when they accept the hypocrisy of ignoring the experience of aatma altogether and of believing only in material truth. Year 2021 saw rise of New India where large scale implementation skills were demonstrated with Vivek of right or wrong. Year 2021 saw rise of New India where modernity meets traditional wisdom, Vivek of temporary and permanent. One key enabler of this New India is its current Prime Minister Narendra Modi.