Seasonal Magazine - Latest Issue - October 2019

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VOLUME 18 ISSUE 10 OCT 2019

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MAGAZINE

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Managing Editor Jason D Pavorattikaran Editor John Antony Director (Finance) Ceena Associate Editor Carl Jaison Senior Editorial Coordinator Jacob Deva Senior Correspondent Bina Menon Creative Visualizer Bijohns Varghese Photographer Anish Aloysious Office Assistant Alby CG Correspondents Bombay: Rashmi Prakash Delhi: Anurag Dixit Director (Technical) John Antony Publisher Jason D Pavorattikaran Editorial & Business Office Cochin: 36/1924 E, Kaloor-Kadavanthra Road, Near IGNOU, Kaloor, Cochin-17.

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Finance Minister Nirmala Sitharaman has rolled back some of the tough measures she had taken in her maiden budget, as well as provided some new stimuli to kickstart growth, in three announcements within two weeks. While the stock market responded some what to FM's easing measures, the consumer demand situation is yet to witness a significant uptick across sectors. As the whole of India searches for reasons behind the deepening gloom in the economy, the FM identified the changing tastes of millennials behind some setbacks like in the auto sector. For example, it was hypothesized that the youthful brigade is content with ride-hailing apps like Uber & Ola, rather than ownin a car of their own. But many in the industry as well as social media didn't agree to this view, including India's largest carmaker Maruti Suzuki's top honchos, who put the main reason as rising cost of owning even an entry level car due to higher taxes, insurance, fuel and other factors. Commerce Minister Piyush Goyal tried to instill confidence in the economy by citing the fable of Newton discovering gravity by a falling apple and not maths. While media and social media were behind Minister Goyal's gaffe of mentioning Einstein instead of Newton, an even bigger issue was overlooked which is that maths was in fact central to not only Newton's discovery of gravity, but for arriving at an annual growth rate of 12% if India is aiming to be a $5 trillion economy by 2024 as per Prime Minister Narendra Modi's objective. Since former PM Dr. Manmohan Singh is not really a politician but an economist, he too pitched into the wider debate, proposing five measures including growing agriculture and exports. Since India has been reeling under a spreading contagion of weak growth and rising job losses across the sectors, Seasonal Magazine too has identified seven ways to resurrect the economy immediately.

While we Indians and all our leaders have glossed over our GDP growth rate post economic liberalization, a sobering fact for all of us is that India’s GDP is still dominated by consumption. And in consumption too, private consumption has been the major component of our GDP with estimates on its contribution varying between 60% to 70%. Private consumption is the consumption of goods and services by you and me and our companies, and not the governments. India has fared well in consumption primarily because of our world-leading population, of which a rising percentage was uplifted from poverty to lower middleclass and middleclass post economic liberalization. In fact, India withstood the global economic crisis starting in 2009 and the ensuing and lingering NPA crisis solely based on the growing consumption economy.

Bring Back the Demand

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7 WAYS TO RESURRECT THE ECONOMY

Bring Back the Consumption

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EDITORIAL

To energize the economy, successive governments have been trying to push public spending in the vain hope that it will eventually spur private investments. But time and again it has been proved that this has not happened, and will not happen in the future too for some simple reasons. Capacity utilization across industries in India stands at just 70%. Why should entrepreneurs and companies invest again in capacity augmentation now? It doesn’t make sense at all. Companies will invest heavily only when they sense once again that demand is going to outpace supply. Expecting supply to lead demand is irrational. This is not a chicken-or-egg problem with any ambiguity.

It is a horse-or-cart issue. Trying to promote private investment before demand kicks in is putting the cart before the horse, which has never worked. Instead the horses of demand should be unleashed by enabling consumption.

Bring Back the Corporate Credit Growth While capacity utilization is only 70%, it is important to realize that it is an average figure across industries and that there are still some pockets of growth. In addition,

there is the start-up environment where budding entrepreneurs are trying new products and services. It is imperative that these segments get adequate credit, which the banks are now unable or not willing to provide due to the never-ending NPA crisis.

While different measures have been tried by successive governments and RBI governors, the crisis still looms greater than ever before. The writing on the wall should be clear to all. The NPA crisis can be solved only by both parties – defaulting companies as well as banks – taking significant haircuts. Government, as the main promoter of wholesale banks, should encourage their banks to do this, so that this crisis is solved once and for all, and banks return to a track of significant credit growth.

Bring Back the Retail & MSME Credit Growth India’s consumption story was not just driven by rising incomes in the lower-class and middleclass populations, but by the easy credit that became available to them, mainly from the non-banking financial companies (NBFCs). While banks were unwilling to lend to these consumers, it was these NBFCs that extended loans to them and thus indirectly spurring on the demand for everything from smartphones to TVs to bikes to even cars and affordable homes. The same goes for the Micro, Small & Medium Enterprises (MSMEs) for which these nonbanks were a major source of debt. The NBFC crisis starting from IL&FS and extending through DHFL has shattered this sector as refinancing has become a major problem for even well-run NBFCs. While banks pay lip service to growing their retail & MSME loan portfolios, except for one or two private banks, no bank is willing to lend aggressively to these sectors.

That is why the NBFC sector needs to be revived urgently.

Bring Back the Jobs Growth The first hint of increasing trouble in Indian economy, post 2014, came from the jobs front. Job growth has decelerated to multi-decade lows. This was to be expected as corporate earnings growth was getting muted, with insufficient capacity utilization and lack of credit for even growing sectors. While

successive governments have done much to incentivize overseas investments, little was done to incentivize jobs growth. It was assumed that one will automatically result in the other, which has proved to be untrue. This is because the biggest overseas and Indian companies are resorting to a highlevel of automation driven by artificial intelligence, which is enabling them to make bigger profits with fewer jobs. As this trend is only likely to grow exponentially, it is imperative that highly populous countries like India stop incentivizing investments and start incentivizing jobs creation.

Bring Back Wage Growth Whenever consumption suffers in any country, the first culprit that economists look for is wage growth. This time and our country too is no different. Studies show that per capita disposable income in India fell to 9.5% between 2015 and 2018 from a high of 13.3% between 2010 and 2014. Falling disposable income is primarily why Indians, especially the poor and middle-class, have cut down on or delayed buying discretionary items and even essentials and staples. India’s economic growth has not proportionally contributed to wage growth for the masses, say successive studies from International Labour Organization (ILO). Powerful tools like MGNREGA that put significant amounts of money in the hands of masses should be revived and grown systematically so that consumption is boosted from the lowest of rungs, even when productive work of nation-building gets done. MGNREGA is credited with boosting consumption from 2007 to 2014.

Government should also implement the findings of a study it commissioned in 2017, which recommended that a minimum wage of close to Rs.10,000 should be paid across all sectors.

Bring Back Rational Taxes While implementing the Goods & Service Taxes was a long pending reform, sector after sector, starting from automobiles to FMCG foods are showing tremendous stress from the rise in tax rates. Tax rates should be made much more rational in such a way that the government gets higher and higher taxes from growth of the sectors rather than higher tax rates. When rates are kept low, it will spur growth and will eventually deliver much more sustainable revenues for the government.

Otherwise, it will be like killing the proverbial golden goose for short-term gains. Also, government should come to the rescue of the masses by cutting taxes on petrol and diesel when oil prices run high, as the higher prices in itself compensates the government. Otherwise, the jobs loss that started with the automotive sector with an estimated 3.5 lakh people losing jobs, and then to FMCG foods, will propagate to other sectors and become a contagion.

John Antony SEASONAL MAGAZINE

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CONTENTS MISSING THE BIGGER PICTURE? In every sphere of human activity, there is always a raging debate as to what constitutes a reasonable policy. From a country’s defence to social welfare; economics to religion; law to industry it is often noticeable that a ‘debate’ ensues regarding the form and substance of respective policies in almost every field. Even in sport, team selections are a highly subjective exercise, which is bound to split..

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NATIONAL EDUCATION POLICY 2019

5 CORE WAYS NEP 2019 WILL CHANGE INDIAN HIGHER EDUCATION It has been over 50 years since India formulated its first National Policy on Education, under then Prime Minister Indira Gandhi in 1968. However, most pillars of this Education Policy preceded the Policy itself, as under the leadership of Prime Minister Jawaharlal Nehru itself, institutions like UGC and IITs came into being, and even NCERT came into being before the first policy by Indira Gandhi. Eighteen years later, in 1986, India had its second National Policy on Education under then Prime Minister Rajiv Gandhi. Both these policies, especially the second one had revolutionary changes that impacted the quality of educational institutions for decades to come. Just 6 years later, in 1992, under Prime Minister PV Narasimha Rao’s leadership, this second policy come. Just 6 years later, in 1992, under Prime Minister PV Narasimha Rao’s leadership, this second policy was significantly modified and improved without going in for a new policy. Further modifications were introduced by Prime Minister Dr. Manmohan Singh in 2005, again without creating..

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MUSK WANTS TO NUKE MARS, AND WHY IT IS USELESS Leading entrepreneur Elon Musk – aka Lex Luthor in spirit — is on social media yapping about nuking Mars again. He’s not trolling; he’s not acting as a provocateur; he really wants to bombard the surface of our..

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NO GAY GENE EXIXTS, SAYS LARGE GENOME STUDY

INDIAN MICROFINANCE SECTOR TO DOUBLE IN 5 YEARS, SAYS MUHAMMAD YUNUS India’s microfinance industry is expected to double its lending business to the poor in the next five years if the growth momentum continues, said Nobel Peace Prize winner and founder of Grameen Bank, Muhammad Yunus.

A new study seems to firmly bury the idea of a so-called “gay gene.” Scientists looked at the genes of nearly a half million people and couldn’t find any genetic variations that could..

WHO ALL CAN REPLACE SAUDI OIL? The attacks cut Saudi production by 5.7 million barrels a day. Here is a list of countries that could boost crude production to offset losses from Saudi Arabia in the event that the disruption to supplies from the attacks on its Abqaiq and Khurais processing facilities lasts longer than initially expected. It's not a long list and much may not be accessible.

AN INDO-RUSSIAN ORDER IN ASIA AND BEYOND? In the context of the India-Russia annual summit in Vladivostok, there were some underlying interests between the two countries that seemed conspicuous. Firstly, India and Russia find themselves with almost zero political issues between them, a rare foreign policy relationship that has stood the test of time.Recently, India’s External Affairs Minister S SEASONAL MAGAZINE

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CONTENTS

IDFC FIRST BANK

THE BANKER-ENTREPRENEUR IS PLOTTING A RAPID TURNAROUND

V Vaidyanathan has done it before at Capital First – transform a sluggish wholesale lender into a highgrowth retail lender, and the market believes he can do it again at IDFC First Bank. He is perhaps the only

BRS VENTURES

CAN BRS VENTURES REGAIN THE MOMENTUM? While India has produced many professionals and businessmen who have been high achievers across the globe, the achievements of Dr. BR Shetty can outshine most of them. From an ordinary immigrant from Karnataka to UAE in the early 70's, Dr. BR Shetty's empire – BRS Ventures - has grown magically across sectors and geographies. His

TWITTER ADDRESSES DIRECT MESSAGE ABUSE Social media giant to test a new filter for spam and abuse in the Direct Message inbox.

NEW INDIA ASSURANCE

PROVING ITS METTLE IN THE CENTEN ARY YEAR

NEWS OF TIMELY DELIVERY OF RUSSIAN S-400 TRIUMF IS GOOD NEWS FOR IAF India will receive delivery of the first batch of Russian S-400 Triumf air-defence missiles by 2023.

Russia has received an advance payment for S-400 air defence missile systems from India.

GOOGLE ASSISTANT STILL THE SMARTEST

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All three of the leading smartphonebased digital assistants are getting better at accurately answering questions, according to a new study by Loup Ventures. Google’s assistant is still the smartest, but Amazon Alexa is getting better faster.

WILL YOUR CITY SINK? LOOK NO FURTHER THAN JAKARTA Indonesia's capital Jakarta is a city that is sinking into the ocean and therefore on brink of disaster.

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WHY DRINK TEA AND EAT FRUITS & VEGETABLES Consumption of such flavonoidrich foods can protect people who are at high risk of chronic and often fatal diseases like cancer and heart ailments.

A SMARTPHONE THAT TRANSFORMS INTO A TABLET Xiaomi has been granted patents of a foldable smartphone that suggest that the device could launch soon.

INDIAN STARTUPS AND CHINESE VENTURE CAPITAL: THE STRATEGIC DIMENSION Chinese venture capitalist (VC) funds have been rapidly making their way across the Himalayas and betting on the Indian startup story.In 2018 alone, Indian startups raised around $5.6 bn from various Chinese investors, following from the $3 bn in 2017. In the previous 16 years

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CRICKET

INDIA VS SOUTH AFRICA 2019:

CAN KOHLI’S YOUNG GUNS FIGHT IT OUT AGAINST SOUTH AFRICA?

India kick-start their 2019-2020 home

season with their month-long series against South Africa, involving 3 T20s and 3 Tests. The first T20 was washed out even before the toss as Dharamshala failed to see sunlight for much of the time. As the action moves to Mohali for the second T20, both teams will have incentive to experiment with their respective squads with an eye on the 2020 ICC T20 World Cup. Most teams have packed their upcoming match itinerary with T20 matches as preparations for the cricketing extravaganza gathers pace. On a high after their dominating tour of the West Indies, India would look to carry forward their good form against the Quinton De SEASONAL MAGAZINE

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Kock-led South African side. India has been bolstered by the return of Hardik Pandya, the batting all-rounder who was rested for the tour to West Indies. India are hoping that their young pace attack can deliver the goods with left-armer Khaleel Ahmed set to lead the line. The combined experience of the bowling attack is 17 international matches.

However, India’s strength lies in the allrounder’ department. With the likes of Ravindra Jadeja, Krunal & Hardik Pandya and Washington Sundar, India has the requisite manpower to offer stability to a batting-heavy lineup.

Rishabh Pant is most likely to don the wicketkeeper’s role as K L Rahul serves as the back-up option. The batting order

begins with the opening pair of Rohit Sharma and Shikhar Dhawan, the latter struggling to hit top gear in recent matches. However, India’s following three batsmen are coming with a rich vein of form starting with skipper Virat Kohli, Shreyas Iyer and Manish Pandey.

Here is a look at the four factors that could play a crucial role for India in the upcoming series:

OPENING BATSMEN Rohit Sharma is the first name on India’s teamsheet in the limited overs format.

Having emerged as the leading rungetter in the ICC Cricket World Cup, Rohit Sharma is operating at his most

productive level in a long time. His innings gave India the required momentum to accelerate at the end overs. In the West Indies tour, Sharma did not pose much of a threat as he got out playing rash shots. It remains the biggest concern for the team even after his consistent showing in the world cup.

Sharma needs to stick at the crease for a while before going for his shots.

Whenever Sharma has failed to do so, India have rarely managed to post big totals. His partner, Shikhar Dhawan, had a brief World Cup having injured himself after a blistering hundred against Australia. However, Dhawan has struggled to regain that form and has looked susceptible to the swinging deliveries during the West Indies tour.

When the Sharma-Dhawan partnership thrived, it was usually on the back off Dhawan’s blistering starts at the top.

While Sharma would play the anchor’s role and soak in the pressure, Dhawan would unsettle the opposition with his fluent shots through cover. However, just like Sharma, Dhawan relies on form to deliver with consistency. Players like Dhawan have struggled to excel once they are in a rut. Given the flat batting tracks in India, Dhawan and Sharma would look to capitalize on the inexperienced South African bowling attack.

KOHLI AND IYER India’s strength is in its No. 3 and No. 4 positions, led admirably by Virat Kohli and his understudy Shreyas Iyer. While Kohli needs no second invitation to exploit the conditions to his and the team’s benefit, Iyer is faced with the prospect of cementing his place as the No. 4 batsman. That dreaded batting position haunted India throughout the World Cup and Iyer will be hoping to carry forward his good form from West Indies. Both have already stitched together a useful partnership in testing conditions and taken the team to victory.

Given their similarity in temperament, India is expecting that Iyer can grab the opportunity with both hands and resolve India’s No. 4 dilemma once and for all.

India have often flattered to deceive when their opening batsmen have failed to click. However, Kohli is a known entity who has delivered when pushed against the wall. The test would be for young Iyer to partner his skipper in the

India’s strength is in its No. 3 and No. 4 positions, led admirably by Virat Kohli and his understudy Shreyas Iyer.

While Kohli needs no second invitation to exploit the conditions to his and the team’s benefit, Iyer is faced with the prospect of cementing his place as the No. 4 batsman. event of a quick succession of wickets.

Given the batting firepower that is to follow, India will bank on their two dependable batsmen to counter the tough middle overs phase and set the platform for the team’s big-hitters to finish off the innings.

MIDDLE-ORDER FIREPOWER Having the likes of Hardik Pandya, Krunal Pandya, Rishabh Pant and Ravindra Jadeja in the middle order is a strong statement of intent. Hardik is almost certain to bat in the No.5 or No.6 slot depending on whether Pant is sent before or after him. Hardik had a relatively good outing in the World Cup, playing those quickfire innings with the bat and picking up crucial wickets.

Unfortunately, he couldn’t stand up when it mattered the most as his wicket had all but ended India’s hopes of chasing down the total against New Zealand in the semi-final. Rishabh Pant has had a mixed season. The young wicketkeeper played a useful hand during the World Cup having been selected as a late replacement for Dhawan. Despite questions about his finishing ability, the youngster has displayed the touch of class and mental strength required at the highest level.

India’s coach Ravi Shastri has reminded him to put a price on his wicket and bat according to the situation. However, this is counter-productive as it would inhibit his natural batting style and induce more errors in shot selection and timing. The best bet is to ensure that Pant is given the opportunity to prove himself in different situations as he showed against West Indies when he singlehandedly won India a T20 match. India must decide whether to play Krunal Pandya

or Ravindra Jadeja or even both. India has two left-arm spinning options who can prove vital during the middle overs to stem the flow of runs. Given Jadeja’s recent exploits with the bat, he could get the nod ahead of Krunal. But India is best positioned to utilize both the allrounders as South Africa have quite a few batsmen susceptible to left-arm spin.

THE FRONTLINE BOWLING ATTACK India goes into the T20 series with one of its most inexperienced bowling attack in recent years. However, they are not short of high-stakes experience having been exposed to the competitive IPL. Khaleel Ahmed is currently India’s only left-arm pace option with an impressive performance during his stint so far at this level. Relying more on swing, Ahmed is known to struggle when the ball gets old and there is less assistance from the pitch. India’s main trump card would undoubtedly be Navdeep Saini, the raw pacer representing the Royal Challengers Bangalore (RCB) in the IPL. Saini impressed with his sheer pace and consistency as he shouldered the bowling responsibility for his IPL outfit in an otherwise poor season for his team.

Given a big break in international cricket, Saini’s debut was memorable as he picked up three wickets to lead India to victory over the West Indies in a T20 match. Deepak Chahar is another bowler who has not been blessed with enough opportunities at the international level but comes with a lot of experience at the domestic circuit and IPL cricket. With his variations and trickery, Chahar has the uncanny ability to pick up early wickets complimented by his probing line and length. Rahul Chahar, India’s lone mainstream spinner, has had a rapid rise to the top.

His simple, yet effective action has troubled the best in the business in the IPL and his mantra would be to continue his wicket-taking ways. In the absence of Kuldeep Yadav and Yuzvendra Chahal, Chahar would look to impress the selectors as India’s third spinning option.

Possible XI: Rohit Sharma, Shikhar Dhawan, Virat Kohli, Shreyas Iyer, Rishabh Pant, Hardik Pandya, Ravindra Jadeja, Krunal Pandya, Navdeep Saini, Khaleel Ahmed, Rahul Chahar.

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GADGET

GOOGLE ASSISTANT STILL THE SMARTEST ALL THREE OF THE LEADING SMARTPHONE-BASED DIGITAL ASSISTANTS ARE GETTING BETTER AT ACCURATELY ANSWERING QUESTIONS, ACCORDING TO A NEW STUDY BY LOUP VENTURES. GOOGLE’S ASSISTANT IS STILL THE SMARTEST, BUT AMAZON ALEXA IS GETTING BETTER FASTER.

oogle Assistant still takes the lead over Apple’s Siri, followed by Amazon’s Alexa, according to the study. But Siri outperformed Google Assistant in correctly responding to commands, the study’s authors say.

For the second year in a row, Loup Ventures found that Google Assistant answered more questions correctly than Apple’s Siri or Amazon’s Alexa in its annual IQ test. The study tested smartphone-based digital assistants by asking each the same 800 questions about finding nearby places, ordering goods, navigating and more. The study evaluated whether the assistants correctly understood the question and the accuracy of their responses.

Google Assistant correctly answered 93% of the questions and understood all 800, according to Loup Ventures. Siri came in second, answering 83% correctly and misunderstanding two questions. Alexa answered 80% correctly but only misunderstood one, according to the study.

The ranking remained consistent with that of last year’s study, but all three assistants improved their scores, Loup Ventures said. In July 2018, Google Assistant answered 86% of questions correctly while Siri answered 79% correctly. Alexa made the biggest jump from year to year, improving nearly 19 SEASONAL MAGAZINE

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percentage points from an accuracy score of just 61% in 2018.

JK ROWLING DONATES $18.8M TO RESEARCH CENTRE NAMED AFTER HER MOTHER Harry Potter author JK Rowling has donated $18.8 million towards multiple sclerosis research at a centre named after her late mother, Anne Volant Rowling, who died of the disease. The donation will be used for new facilities at the Anne Rowling Clinic in Scotland's University of Edinburgh.

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DISNEY CEO RESIGNS FROM APPLE BOARD AHEAD OF APPLE TV+ LAUNCH

“Many of the same trends continue; Google outperforms in informationrelated questions, Siri handles commands best, and the ranking of utility based on the number of questions answered has remained the same (Google Assistant, Siri, Alexa),” Loup Ventures wrote in a blog post. ”[B]ut there have been dramatic improvements on each platform and in each category in the few short years that we have been tracking the progress of digital assistants.” This year, Siri outperformed Google Assistant in the command category, according to the study. Both “far outperformed” Amazon’s Alexa in this category, which the study’s authors attributed to the fact that both are baked into the phones’ operating systems, while Alexa is part of a third-party app.

Walt Disney CEO Bob Iger resigned from Apple's board of directors on September 10, regulatory filings revealed. This comes ahead of the launch of Apple's recently unveiled video streaming subscription service Apple TV+, which stands as a direct rival to the entertainment conglomerate's own service, Disney+. Iger became an Apple director shortly after Apple Co-founder Steve Jobs' death in 2011.

While one might expect Alexa to be best at questions about ordering goods, Loup Ventures said Google Assistant actually had the widest lead in the commerce category. Google Assistant correctly answered 92% of questions in the section, while Alexa answered 71% correctly and Siri 68%. Still, the researchers said they don’t think a significant number of consumers are making purchases through voice commands, based on consumer surveys and personal experience.

BREAKING BAD'S 'WALTER WHITE' LOOKALIKE WANTED IN METH POSSESSION CASE Police in US' Illinois are hunting for a man resembling Bryan Cranston's Breaking Bad character 'Walter White' in a meth possession case. A mugshot of 50-year-old Todd Barrick has gone viral after the Galesburg Police Department released the photo on Facebook. "Please check the nearest car wash or storage centre," a Breaking Bad fan commented on the picture.

TECHNOLOGY

TWITTER ADDRESSES DIRECT MESSAGE ABUSE Social media giant to test a new filter for spam and abuse in the Direct Message inbox.

witter is testing a new way to filter unwanted messages from your Direct Message inbox. Today, Twitter allows users to set their Direct Message inbox as being open to receiving messages from anyone, but this can invite a lot of unwanted messages, including abuse.

While one solution is to adjust your settings so only those you follow can send you private messages, that doesn’t work for everyone. Some people like reporters, for example — want to have an open inbox in order to have private conversations and receive tips.

This new experiment will test a filter that will move unwanted messages, including those with offensive content or spam, to a separate tab.

Instead of lumping all your messages into a single view, the Message Requests section will include the messages from people you don’t follow, and below that, you’ll find a way to access these newly filtered messages.

Users would have to click on the “Show” button to even read these, which protects them from having to face the stream of unwanted content that can pour in at times when the inbox is left open.

And even upon viewing this list of filtered messages, all the content itself isn’t immediately visible.

In the case that Twitter identifies content that’s potentially offensive, the message preview will say the message is hidden because it may contain offensive content. That way, users can decide if

they want to open the message itself or just click the delete button to trash it.

The change could allow Direct Messages to become a more useful tool for those who prefer an open inbox, as well as an additional means of clamping down on online abuse.

It’s also similar to how Facebook Messenger handles requests — those from people you aren’t friends with are relocated to a separate Message Requests area. And those that are spammy or more questionable are in a hard-to-find Filtered section below that.

It’s not clear why a feature like this really requires a “test,” however — arguably, most people would want junk and abuse filtered out. And those who for some reason did not, could just toggle a setting to turn off the filter.

Instead, this feels like another example of Twitter’s slow pace when it comes to making changes to clamp down on abuse. Facebook Messenger has been filtering messages in this way since late 2017. Twitter should just launch a change like this, instead of “testing” it.

The idea of hiding — instead of entirely deleting — unwanted content is something Twitter has been testing in other areas, too. Last month, for example, it began piloting a new “Hide Replies” feature in Canada, which allows users to hide unwanted replies to their tweets so they’re not visible to everyone. The tweets aren’t deleted, but rather placed behind an extra click — similar to this Direct Message change.

Twitter is updating is Direct Message system in other ways, too.

At a press conference this week, Twitter announced several changes coming to its platform, including a way to follow topics, plus a search tool for the Direct Message inbox, as well as support for iOS Live Photos as GIFs, the ability to reorder photos and more.

BILL & MELINDA GATES FOUNDATION TO HONOUR PM FOR SWACHH BHARAT ABHIYAN

The Bill & Melinda Gates Foundation will honour PM Narendra Modi with an award for Swachh Bharat Abhiyan during his visit to the US. PM Modi launched the Swachh Bharat initiative on October 2, 2014. The campaign aims to achieve the vision of a 'Clean India' by October 2, 2019.

FACEBOOK NOT COMPLYING WITH INDIAN LAW: TN GOVT TELLS SC The Tamil Nadu government on Thursday claimed in the Supreme Court that Facebook, alongside other social media companies, isn't complying with the Indian law. It claimed that this is resulting in "increased lawlessness" and difficulties in "detecting crimes". The Madras High Court was earlier restrained by the SC from passing any effective orders over linking Aadhaar to social media accounts.

IRAN SAYS IT HAS CLOSED GAPS WITH FRANCE IN TALKS ON NUCLEAR DEAL

Iran has closed gaps with France in talks on the 2015 nuclear deal mainly after phone calls between President Hassan Rouhani and his French counterpart Emmanuel Macron, Iran government spokesman Ali Rabiei has said. "Now technical discussions are being held on ways to carry out the European countries' commitments (in the nuclear deal)," Rabiei added.

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INTERNATIONAL

AN INDO-RUSSIAN ORDER IN ASIA AND BEYOND?

In the context of the India-Russia annual summit in Vladivostok, there were some underlying interests between the two countries that seemed conspicuous. Firstly, India and Russia find themselves with almost zero political issues between them, a rare foreign policy relationship that has stood the test of time.Recently, India’s External Affairs Minister S Jaishankarpointed to the fact that the India-Russia relationship has remained amore relatively stable factor in international relations than any other significant relationship since the heydays of the Cold War.

econdly, both countries are building on the economic dimension of their partnership, evidenced byModi’s participation as the chief guest in the Eastern Economic Forum to boost Indian investments and business in Russia’s Far East. Currently standing at close to $11 bn, India and Russia aim to increase their bilateral trade to at least $30 bn by 2025.They include plans to develop a maritime corridor from SEASONAL MAGAZINE

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Vladivostok to the Indian port city of Chennai, a deal for India to manufacture spare parts for Russian military equipment, an agreement by Indian companies H-Energy and Petronet LNG to purchase Russian LNG, and a joint mining project between Indian state firm Coal India Limited and two Russian entities.

There is an increasing recognition that the relationship can move beyond its current one-dimensional nature based

on New Delhi’s reliance on defence imports from Moscow. From a security perspective, almost 60 per cent of India’s military inventory is of Russian origin. India’s defence preparedness is affected by the US decision to link its sanctions on Russia and Iran with India.Incidentally, the original equipment manufacturers of the MiG and Sukhoi aircraft used extensively

by Indian Air Force are in Irkutsk in the Russian Far East Region.

Further, Russia intends to send a message to China that if their investments in the country’s Far East remain limited, then India could be called upon to fill in. Although Moscow’s Asia pivot has not borne fruit yet, the burgeoning economic relations with India could offer a muchneeded fillip to investment in the neglected region.

Thirdly, and most importantly, India and Russia have a common interest in reducing their influence on the U.S and China respectively in matters of regional importance. While India is being tugged by the U.S to deepen their military partnership through various initiatives like the Quad, Russia’ current strategic closeness with China is not guaranteed in the long run.

Inevitably, Indo-Russian cooperation should seem like a foregone conclusion.

Beyond the reasons stated above, New Delhi and Moscow could benefit from strategic alignment given that the current geopolitical rivalry unfolding in the Asian theatre has both Beijing and Washington at crossroads. While China has little reason to draw down its military presence in the IndoPacific, the U.S. attempts to bring together like-minded countries to check the former’s moves.

India, being an important stakeholder in the region, has obvious interests in seeing China end up in a disadvantageous position. However, it has still not bought into the U.S. idea of containment, which retains features of the Cold War pushback against the former Soviet Union. Moreover, India has carefully broached the issue by avoiding overt anti-China posturing in the region. It has also shown no desire to toe the U.S line, which it deems as harming its ‘strategic autonomy’. Thus, for India, the Indo-Pacific strategy comprises largely of either cooperative or coercive engagement.

As far as Russia is concerned, the growing need to revive its Eurasian stakes has complicated the notion of strategic convergence with China whose Belt and Road Initiative (BRI) overlaps in the former’s traditional sphere of influence. Even in the context of the Indo-Pacific, Russia is playing its

As India expresses keen interest in shoring up its energy supplies from Russia’s Far East, the broader contour of the development is the two countries’ strategic convergence on the region’s issues. cards deftly as it re-examines its ties with various actors like ASEANin the region.

Given the current emphasis on building capacity in its Far East, Russia has its own vested interest in creating linkages between the Indian Ocean and the North Pacific Ocean. Moscow also does not intend to vouch for the American and Japanese construct of the IndoPacific, which is premised on the logic of countering China. Russia’s desires that the Indo-Pacific is intrinsically linked with Eurasia, which would not only aid its Asia pivot strategy but also sufficiently check China’s rise at the hands of ASEAN and other actors.

As India expresses keen interest in shoring up its energy supplies from Russia’s Far East, the broader contour of the development is the two countries’ strategic convergence on the region’s issues. In the Indo-Pacific, India and Russia have carved out a unique strategy to amplify their own machinations; while New Delhi has sought to break free from the US-China geopolitical rivalry in the region, Moscow has come up with a compelling strategy of the Eastern Economic Forum to build strategic relationships with Asian countries to limit its reliance on China. In Afghanistan, India might have reservations about Taliban’s rise to prominence at the expense of the democratically elected government there. However, having Russia as a direct channel to influence the Taliban after US withdrawal could play to India’s favour.

On the China front, India is seeking to diversify its options beyond the US-led initiative and encourage a multistakeholder approach. This works in

Russia’s interests, as it should know better than to put all its eggs in the Chinese basket. There is an understanding in Moscow that New Delhi is vital in balancing against Beijing. Despite their growing bonhomie, Russia is better off considering expanding its ties with other Asian countries like India, Vietnam, and Indonesia than solely piggyback on China inmatters relating to the Far East, Central Asia and Asia as a whole.

Such scenarios broaden the scope for a ‘third’ order centered on Indo-Russian lines. The US-led order encapsulated in the Indo-Pacific (Quad), Afghanistan (troop withdrawal and Taliban peace deal) and China strategy (trade war) has resulted in disruptions never witnessed previously in the region. Further, the China-led order has sustained in its own disruptive ways from the Indo-Pacific (South China Sea dispute) to Afghanistan (strategic leverage over Pakistan) to its US strategy (again, through the trade war).

The third order, unlike the American and Chinese versions, is neither inspired by antagonism towards any particular country nor achieved through the violation of international law or trade practices. Moreover, the third order is reflective of the geopolitical realities in the region, based on a multipolar, rules-based, mutually beneficial framework. As Bharat Karnad argues, India and Russia are in pursuit of newer geopolitical schemes to fit their changing national interests and in the currentuncertain times, neither country has thought it fit to pull away from the other because both governments appreciate the geostrategic utility of keeping close.

Given the enduring shadow of the SinoUS rivalry, India and Russia have their task cut out in framing this third narrative. However, the continuing relevance of such an order would be tested against the strategic necessity of the Indo-Russian cooperation. If the strengths of the partnership are carried forward in the times to come, it would not only elevate their bilateral ties to a new level but offer a refreshingly fresh perspective on how issues in the region are addressed.

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EDUCATION

By John Antony

NATIONAL EDUCATION POLICY 2019

5 WAYS NEP 2019 WILL CHANGE HIGHER EDUCATION

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It has been over 50 years since India formulated its first National Policy on Education, under then Prime Minister Indira Gandhi in 1968. However, most pillars of this Education Policy preceded the Policy itself, as under the leadership of Prime Minister Jawaharlal Nehru itself, institutions like UGC and IITs came into being, and even NCERT came into being before the first policy by Indira Gandhi.

Eighteen years later, in 1986, India had its second National Policy on Education under then Prime Minister Rajiv Gandhi. Both these policies, especially the second one had revolutionary changes that impacted the quality of educational institutions for decades to come. Just 6 years later, in 1992, under Prime Minister PV Narasimha Rao’s leadership, this second policy was significantly modified and improved without going in for a new policy. Further modifications were introduced by Prime Minister Dr. Manmohan Singh in 2005, again without creating a new policy. Now, in 2019, under Prime Minister Narendra Modi’s leadership, India is formulating a fresh National Education Policy (NEP 2019), which will have sweeping and far-reaching effects. While the policy is for everything from pre-primary to research, here is a look at five of the most profound ways in which NEP 2019 will impact Higher Education and Higher Education Institutions in the country.

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NATIONAL EDUCATION POLICY 2019

5 CORE WAYS NEP 2019 WILL CHANGE INDIAN HIGHER EDUCATION

leaders and experts in education share their Views on

education and NEP 2019

Who Will Regulate the Higher Education Sector?

For decades now, the higher education sector in the country have been regulated by eminent independent bodies like University Grants Commission (UGC), All India Council for Technical Education (AICTE), National Assessment & Accreditation Council (NAAC) and various professional councils like Medical Council of India, Bar Council of India etc, as well as Ministry for Human Resource Development of the Government of India. These academic bodies were generally constituted of eminent academicians and professionals. While there was always room for improvement in the output of these bodies, they served their purpose well and good as is evidenced by the worldwide good reception our graduates, postgraduates and research scholars used to get.

Moreover, multiple bodies were required as each domain of knowledge was vastly different. The New Education Policy 2019 (NEP 2019) however proposes a sweeping change in this governance and regulatory structure. Education governance is to be headed from now on by a new body, National Education Commission or Rashtriya Shiksha Aayog, which will be an apex body for education, to be headed by the Prime Minister. This body will be responsible for developing, implementing, evaluating, and revising the vision of education in the country on a continuous and sustained basis.

It will oversee the implementation and functioning of several bodies including the National Council of Educational Research and Training (NCERT) at the school level, the newly proposed National Higher Education Regulatory Authority (NHERA) at college / university level, and the newly proposed National Research Foundation for research purposes.

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Professor Raj Kumar, Founding Vice-Chancellor, JGU

“We are hopeful that in the coming years, institutional mechanisms will be advanced to enable greater innovation in governance structures, more efficient processes at macro and micro levels, and greater accountability to various institutional stakeholders. The recent initiatives taken by the Government of India, particularly the Institutions of Eminence proposal and the panel headed by Dr. K. Kasturirangan to frame the National Education Policy, are greatly encouraging in creating a more progressive and enabling higher education environment. JGU, as an institution, is committed to public service and national progress. In addition, JGU has placed the pursuit of institutional excellence at the core of its mission since its inception. We are conscious that education is much more than merely awarding degrees. In India today, we are faced with enormous challenges relating to higher education. JGU has been deeply conscious of fulfilling its commitment to public service and addressing some of the larger challenges in the higher education sector in India”

P. Sathyanarayanan, President, SRM University

The “Revitalising Infrastructure and Systems in Education” (RISE) initiative to increase investment in research in the premier institutes of the country, with a total investment allocation of ¹ 1 lakh crore over a period of four years, augurs well for the future”.

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NEP 2019 Stakeholders Who Were Asked Suggestions & Some of Their Views

What Will Happen to UGC, AICTE, NAAC, & Professional Councils?

Sweeping changes are awaiting most of these apex bodies if and when all the proposals in National Education Policy (2019) are implemented.

University Grants Commission (UGC), the most venerable body controlling Indian higher education for decades, had already seen much erosion in its powers during the past few years. This erosion in its powers will accelerate now under NEP 2019 as National Assessment and Accreditation Council (NAAC) is being demerged from it, and the only major role remaining for the University Grants Commission (UGC) will be providing grants to higher educational institutions. Similarly, the role of all professional councils such as AICTE and the Bar Council of India would be limited to setting standards for professional practice. NEP 2019 has proposed this as the current higher education system has multiple regulators with overlapping mandates.

While this reduces the autonomy of higher educational institutions, it remains to be seen whether a new single regulator like NHERA will cause too much centralization of power. National Assessment and Accreditation Council (NAAC) is perhaps the only old body that will get a new lease

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Prashant Bhalla, president, Manav Rachna Educational Institutions, and head of the education committee at Assocham:

“It does look forward-looking, but what the final draft needs to do is differentiate between deregulation and liberalisation. The incentive for the private sector to invest, grow and stand on quality parameters needs to be clearly articulated.”

Dr. Aseem Chauhan, Chairman and Chancellor, Amity University

“This Union Budget 2019 comes bearing good news for Indian youth. Skill development in new and emerging technologies such as artificial intelligence, big data and robotics is a forward looking move by the Government. Today’s budget pivots on creating opportunities for our aspiring youth and the rural economy. This will help the country in generating jobs and also in bridging the skills gap.”

MJ Xavier, Vice Chancellor, Karunya University

Ramesh Pokhriyal HRD Minister

“In the new education policy what they are suggesting is to put all the universities under some other umbrella.

They are looking at some other form of governance where you will have a super body with sub-committees. I think that is a good idea, because today you have to go to different approving agencies so they want to cut out that and have one body. But the problem with the new education policy is that it is more of what the previous government was doing, it is an incremental model and there is nothing new in that. There is no proper idea as to what kind of graduates will be needed ten years from now, if you formulate the policy without knowing what kind of skill is needed again you will have the same problem.”

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NATIONAL EDUCATION POLICY 2019

5 CORE WAYS NEP 2019 WILL CHANGE INDIAN HIGHER EDUCATION of life. Currently, the National Assessment and Accreditation Council (NAAC) is an accreditation body under the UGC. The draft Policy recommends separating NAAC from the UGC into an independent and autonomous body. In its new role, NAAC will function as the top level accreditor, and will issue licenses to different accreditation institutions, who will assess higher educational institutions once every five to seven years.

All existing higher education institutions should be accredited by 2030. Even the Ministry for Human Resource Development (MHRD), is going to witness major changes. NEP 2019 has suggested that the Ministry of Human Resources and Development must be renamed as the Ministry of Education in order to bring focus back on education.

Who Can Approve Creation of New Universities?

Until now, approval for new universities – both public and private - came under the powers of either Parliament or State Legislatures as a new law or act specifically drafted for each public, deemed-to-be or state private university was necessary for creating them. But not anymore. One of the most fundamental and sweeping changes in the new National Education Policy (NEP 2019) is that when it is implemented, the power to set up new universities will be vested in the new apex body, National Higher Education Regulatory Authority (NHERA). The draft NEP Policy proposes that these institutions could be allowed to be set up through a Higher Education Institution Charter from NHERA. This Charter will be awarded on the basis of transparent assessment of certain specified criteria. All such newly

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leaders and experts in education share their Views on

education and NEP 2019

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Prof. SB Mujumdar, Founder Chancellor, Symbiosis International

"Innovation in the mind, compassion in the heart and passion in the belly can help create great enterprises.

Humility, simplicity and frugality coupled with passion, compassion and innovation can help in making a valuable contribution to society. Right from childhood, they taught me the importance of values, most importantly, moral values. Humility is not a weakness. You can be polite and get work done. You can be persuasive without being aggressive. These essential values for any institution or organisation. As Mahatma Gandhi said, ‘I continuously pray in the faith that the prayer of a pure heart never goes unanswered.’ I have coined the word ‘innovationary’ to denote massive social change through innovation, and it is better than the word ‘revolutionary’."

Dr. N. N. Dutta Chancellor, Assam down town University

Our emphasis is on creating industry ready students.

Besides the technical curriculum we have several programs in technical skills as well as personality and soft skills that are embedded in the programs. Besides this we have a strong placement team which emphasizes on industry interface. There are several seminars and workshops being arranged from industry stalwarts from across the country.

The University has also opened two offices in Pune and Delhi, at the heart of the industrial and corporate belt with the lone intention of interacting with the industry for knowhow and job opportunities. We believe, that even if we are based in one corner of the country, all the opportunities of an emerging India will available to all our students.

Assam down town University has to traverse a long way by way of expanding as well as consolidating academic programmes, which it will, maintaining the rich tradition and cultural heritage of the region as well as fulfilling its social mission of creating quality human resources in order to serve the nation with dedication.”

NEP 2019 Stakeholders Who Were Asked Suggestions & Some of Their Views

Dr. Mariazeena Johnson Chancellor, Sathyabama Institute of Science and Technology

Introduction: Literacy rate is the indication of growth of an economy. This should be coupled with the structured development of a well-defined system in achieving the world class Education, Teaching, Training and Research.

Based on this concept, Educational policies are to be developed and monitored. Using the Education policy with more than 25 years old under the rapidly changing world is not a good sign for a rapidly growing economy.

The exercise of framing and implementing a new education policy with the current statement of mind and with a futuristic approach is a noteworthy exercise done by the Government.

Key Results Areas (KRA) Any education policy should aim at the Key Result Areas, i.e., elementary education – which aims at increasing the literacy rate; Higher Education which aims at both the Gross Enrolment Ratio and also the Research which leads to technological advancement. It is noteworthy to mention here that both the abovementioned aspects were addressed in the New Educational Policy.

Noteworthy points for implementation Curriculum development – A uniform methodology in curriculum development will reap good results Integrated Programs – This is a good initiative to promote higher education Industry Orientation – IndustryInstitution interaction should be brought deep into our system at every level of implementation..

Removal of affiliation system – This is a good initiative as it removes the redtapism.

Evaluation of Public and Private Institution on similar guidelines - This is a good initiative as all the institutes are assessed, analyzed and evaluated

on the similar grounds, hence partiality can be avoided.

Mandatory accreditation system This is a good initiative as it increases the efficiency level of the Institutes.

Discontinuing the M.Phil course This avoids the duplication in our system as this degree is not considered even for any post or promotion or recognition.

Evaluation and monitoring of the Faculty - This is a good initiative so that contuinuus monitoring of the faculty is being undertaken which is also helpful in self assessment, self evaluation and self development..

Suggestions Industry should train Faculty Faculty: As a part of the Corporate Social Responsibility, the NEP should insist to undertake the training of Teachers so that the practical knowledge and the latest happenings in the industry can be shared to the students.

Degrees: The Nomenclature of Degrees Nomenclature of the Degree issued by

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the Universities should not restricted to list provided by the Higher Education Council. The Institutes with higher NIRF or NAAC score should have the It liberty in using the nomenclature for issuing the Certificates.

Curriculum: Industry Integration in Curriculum Industry Integration in the Under Graduate curriculum may be introduced so that the huge number of students can become the work force, mainly for MSME. Change the Vision statement for higher education – It should reflect the secular, cultural and traditional values of our society, which helps in producing young minds with this set of values.

Light but tight system – The system is relaxed in certain areas and need not have stringent methodologies ,when accreditation becomes mandatory for an institution Inter University Centre – The pragmatic part of this idea should be taken care with isotropic system based on performance and necessity.

Instead of exit options, break of study, continuation to complete a course – A mandatory period of 2 years in a course shall be a better idea, otherwise Institutions may enroll the student for the sake of Gross Enrolment Ratio (GER). Increase in GER may yield good results in the long run, but in the futuristic approach increased GER coupled with creative minds only will improve the economy.

Public Universities are to be funded based on the performance – This is a very good initiative and must be implemented without any bias or prejudice Three categories of Universities, good idea, but to be a long term approach – Teaching, Research and Innovation should be a part of any Institution: This type of stratification will lead to confusion in rating an institution as teaching / Research which is the rudimentary aspect of any education system. ·World World class Institutions can be either in the private sector or Government Sector – This is a good initiative if the implementation part is taken care .

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NATIONAL EDUCATION POLICY 2019

5 CORE WAYS NEP 2019 WILL CHANGE INDIAN HIGHER EDUCATION constituted higher educational institutions must receive accreditation as mandated by NHERA within five years of being established. It is not clear from the policy whether the Parliament and State Legislatures will continue to have the power to create new universities, both public and private.

However, for all practical purposes it seems that private edupreneurs would make a beeline only NHERA from now on as it bypasses the checks and controls possible by Parliament and State Legislatures. While this measure has been taken to make it easier to set up new universities, if it is not properly implemented, this can end up in acute centralization of powers in NHERA with regard to who can start new universities, with no regard for the opinion of legislators at central and state levels.

Same goes with the objective of transparency, as usually transparency suffers when legislators are kept outside of such core nation building activities.

What is the New Restructuring of Higher Educational Institutions?

Until now higher education institutions have been classified as numerous entities like colleges, institutes, universities, deemed-to-be universities, private universities, as well as by the domains they focus on, like engineering colleges, medical colleges, b-schools, law academies etc. While the

leaders and experts in education share their Views on

education and NEP 2019

Prof. Dr. S. Jayarama Reddy Chancellor, SCSVMV

”

The University has a unique focus on integrating traditional knowledge with modern scientific practices with a global outlook. The university envisages a culture that is characterized by excellent faculty-student interaction and prevalence of ‘one family’ atmosphere. The emphasis is not on mere acquisition of knowledge and its application but on the all-round personality development of the student and his value system. Education is viewed not as accumulation of ideas, but as a process of channelising them to perfection, leading to proper development of the faculties of the student and hence life making. The vision is to provide "quality higher education coupled with Indian Value system and at the same time make it affordable to all sections of the society irrespective of their social or economic standing". It is to identify innate talents of students and bring out their hidden potentialities and help in development of their allround personality with value systems.The mission is a holistic approach to higher education with academic standards consistent with an embedded value system, enriched by a dynamic process of synergy. The Mantra is "Educational Delight" of students engaged in study and faculty engaged in teaching and research in their journey Towards Excellence with Creativity. Also to devise and implement schemes for effectively imparting proficiency in modern technology, at the same time instilling social responsibility and lofty value system enshrined in our culture. And to mould a new generation of universal citizens with confidence, Self dependence, self realization, scientific temper, professionalism, thirst of knowledge, and contentment by the fusion of Indian thought and modern scientific methodology, in higher education.

Swati Mujumdar, Pro-chancellor, Symbiosis Skills and Open University

“This university imparts 70 per cent of its teaching through hands-on practical based pedagogy. It offers sector specific programs in high-growth industries like retail, logistics , arts , data science, architecture, automobile, mechatronics, construction etc. University works closely with the industry through joint training programs as well as training to the staff members of its partners.”

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NEP 2019 Stakeholders Who Were Asked Suggestions & Some of Their Views

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Dr G Viswanathan, Chancellor, VIT

current varied structure has largely aided in conveying the specific role of each entity, it can be argued that this varied structure has been confusing to many. National Education Policy 2019 (NEP 2019) has proposed a new restructuring of all higher education institutions, not by the domain they occupy or their aspirations, but by the primary role they play in education and research. As per this new formula, higher education institutions will be restructured into three types: (1) research universities focusing equally on research and teaching; (2) teaching universities focusing primarily on teaching; and (3) colleges focusing only on teaching at undergraduate levels. A sweeping change seen in NEP 2019 in this connection is that all such institutions will gradually move towards full autonomy - academic, administrative, and financial.

Apart from freeing up research universities to focus more on research, NEP 2019 also proposes establishing a National Research Foundation. As the total investment on research and innovation in India has been declining, with the country lagging behind many nations in number of researchers (per lakh population), patents and publications, this National Research Foundation, will be set up as an autonomous body, for funding, mentoring and building the capacity for quality research in India.

The Foundation will consist of four major divisions: sciences, technology, social sciences, and arts and humanities, with the provision to add additional divisions. The Foundation will be provided with an annual grant of Rs 20,000 crore (0.1% of GDP).

“Private institutions did not get funds from Government of India and I hope that the new education policy would change it as the policy says there should be no differentiation between Government and Private Institutions. I hope this will be accepted by Central and State Governments. The new education policy (NEP) has several good features that will augur well for higher education, especially fostering research and promoting quality of education throughout the country. I urge both the Central and state governments to raise the per capita spending on research on a par with South Korea and USA. I am happy that the committee has also recommended the setting up of council of excellence in higher education. Also, it dealt with the problems of education, particularly quality of teachers, their nonavailability and training for teachers.”

Dr. S Vaidhyasubramaniam, Vice-Chancellor, Sastra Deemed-to-be University

“While we implement new policies like NEP, it is equally important to celebrate the ones that have worked. We need to celebrate local achievements, calibrate learning outcomes, and cerebrate informal education.”

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NATIONAL EDUCATION POLICY 2019

5 CORE WAYS NEP 2019 WILL CHANGE INDIAN HIGHER EDUCATION

What are the New Academic Directions in Higher Education?

Moving with the rapid strides in technology and the growing need for interdisciplinary professionals wellversed in different domains, National Education Policy 2019 (NEP 2019) proposes sweeping changes on two academic fronts – technology in education and interdisciplinary education through a liberal arts approach. On the technology front, NEP 2019 proposes to set up two Technology Missions. The first one will be the National Mission on Education through Information and Communication Technology. This Mission will encompass virtual laboratories that provide remote access to laboratories in various disciplines. A National Education Technology Forum will also be setup under the Mission, as an autonomous body, to facilitate decision making on the induction, deployment and use of technology. This Forum will provide evidence-based advice to central and state-governments on technologybased interventions. The second Technology Mission proposed by NEP 2019 is the National Repository on Educational Data. Under this, a National Repository will be set up to maintain all records related to institutions, teachers, and students in digital form. Further, a single online digital repository will be created where copyrightfree educational resources will be made available in multiple languages. Coming to the interdisciplinary front, NEP 2019 is moving higher education to a liberal arts approach, which has been gaining ground in developed nations too. The policy recommends making undergraduate programmes interdisciplinary by redesigning their curriculum to include: (a) a common core curriculum and (b) one/two area(s) of specialisation.

Students will be required to choose an area of specialisation as ‘major’, and an optional area as ‘minor’.

Four-year undergraduate programmes in Liberal Arts will be introduced and multiple exit options with appropriate certification will be made available to students. Further, within the next five years, five Indian Institute of Liberal Arts must be setup as model multidisciplinary liberal arts institutions.

leaders and experts in education share their Views on

education and NEP 2019

”

Ajit Rangnekar, Director General of Research and Innovation Circle of Hyderabad and former Dean of the Indian School of Business:

“We simply cannot ignore the private institutions, especially given the amount of investments required.

Today, the basic idea is that schools should be not-forprofit, which means that the capital has to be either from the government or philanthropy. The latter is simply not possible because the amount required is huge. All of CSR is just Rs 15,000-20,000 crore. So, we will have to accept for-profit capital and, therefore, allow institutions to make profit. If the aim is that every child should receive good quality education, then each year an additional Rs 5-10 lakh crore (if not more) will be required. The policy suggests development in all types of education, from early to advanced, but it “needs to get the priorities right. For instance, is access more important or quality because ideally, it should be access with quality?”

Karsanbhai K.Patel, President, Nirma University of Science and Technology

“Allow institutions to make profit. If the aim is that every child should receive good quality education, then each year an additional Rs 5-10 lakh crore (if not more) will be required. The policy suggests development in all types of education, from early to advanced, but it “needs to get the priorities right.

For instance, is access more important or quality because ideally, it should be access with quality?”

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NEP 2019 Stakeholders Who Were Asked Suggestions & Some of Their Views

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Dr. RL Raina Chancellor JK Lakshmipat University

“To be able to qualify as Type 1 Research Universities, as envisaged in the NEP, an institution must have at least 60% student population in masters and doctoral programs with an overall student faculty ratio of 12:1 or better. For Type 2 Teaching Universities, at least 20% student population must be in masters and doctoral programs with an overall student faculty ratio of 15:1 or better. For Type-3, Autonomous Colleges, the student faculty ratio must be 18:1 or better.”

Dr Rupamanjari Ghosh, Vice-Chancellor, Shiv Nadar University

“The various initiatives announced in the Union Budget 2019 for education augur a definite transformation for the sector and will play a pivotal role in nation building. We are enthused by the Government’s focus on establishing India as a ‘Hub for Higher Education.’ The creation of the National Research Foundation to create world-class multidisciplinary institutions with strong research capacity is also very welcome. It will need more investment & sustainable partnerships though. We are already participating in the ‘Study in India’ initiative. The roll-out of the New National Education Policy (NEP) shows that the government is serious about transforming education, and the focus on skill-building - which has to reside within the formal higher education sector - highlighted in the budget will also go a long way in increasing employability and improving livelihoods.”

Prof. Sunaina Singh Vice Chancellor, Nalanda University

Learning is as much based on context as much as it is on content.. even more so in today's world where technology is getting contextualized to connect better to stakeholders in every sector. More attention to this across the NEP increases its 'implementability'.

Prasad R, Director- Academic Wing ICFAI Group

“Deliberations should be on whether the draft policy postulates are implementable.

The recommendations in the draft should be properly analysed and should not suffer from past hangovers.”

P.S. Yadapadithaya, Vice-Chancellor, Mangalore University:

NEP’s emphasis on research, consistently affirms and connects the research impulse from undergraduate to doctoral studies and beyond. The most outstanding initiative in this regard is the an integrative vision – which views education and research across the entire geographical terrain of India. Its clarity on halting the aimless mushrooming of institution, while ensuring autonomy is noteworthy. Its emphasis on Interdisciplinary and multidisciplinary institutions.

The study and research of Indian cultural resources is affirmative, as well drawing insipration from the ancient Nalanda and Takshashila.

The challnge to my mind is the operationalizing part.

The other challenge is stigmatization of the study of Indian cultural resources is a narrative that needs some attention and a roadmap.

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NATIONAL EDUCATION POLICY 2019

5 CORE WAYS NEP 2019 WILL CHANGE INDIAN HIGHER EDUCATION

Carl Jaison

MISSING THE BIGGER PICTURE? In every sphere of human activity, there is always a raging debate as to what constitutes a reasonable policy. From a country’s defence to social welfare; economics to religion; law to industry it is often noticeable that a ‘debate’ ensues regarding the form and substance of respective policies in almost every field. Even in sport, team selections are a highly subjective exercise, which is bound to split opinions regardless of the selection criteria. Such disagreements in critical areas of national importance, however, are not limiting. Firstly, it augurs well for a robust democracy to facilitate diverse interests and views. Secondly, there is a discernible value in a ‘trial-and-error’ approach to solving issues as less scientific methods could be phased out gradually. nfortunately, with an absence of consensus on whether to adopt a scientific approach or not, the scope for misuse of policy is farreaching. In other words, the above fields have a political component that sometimes compromises on scientific inquiry. However, it is a misbalance of the two that often evades sound policy – political intervention must be scientifically grounded as much as scientific/ empirical approach should accommodate political realities. Take the recent promulgation of the draft National Education Policy (NEP 2019) that seeks to revamp the field of education in India. For a field as ‘benign’ as education, how do politics and science not square up to generate actionable policy?

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Most praises and criticisms of the government’s draft NEP are simply an exercise of selectivity. Those that support the ‘three-language’ policy and promotion of classical languages like Sanskrit at the primary school level do not account for the futility of the same with regard to employment generation whereas those that argue against privatization of higher education simply do not accept the government’s laggardly approach. There is a lack of cohesion between scientific and political component in India’s education policy.

With every political endeavor, the end goal must be to steer reforms in the interest of the country. India’s education agenda has lacked the political capital to keep the policy makers interested in its implementation. Further, the dearth of scientific understanding of what stalls India’s education

leaders and experts in education share their Views on

education and NEP 2019

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P.K.Khosla Founder and Vice Chancellor, Shoolini University

Though the policy is wrapped with several strategies for promoting quality education, but there is no mention for Indian universities to improve their place in global ranking. Till date ranking of Indian universities at the world level is very dismal.

In ‘Times Higher Education Rankings’, Indian Institute of Science, which is top ranked in India, is placed between 251300, and a total of 49 universities figure, amongst 1200 universities listed therein. Similarly, in the QS ranking system, three universities namely Indian Institute of Technology, Bombay (152) while the Indian Institute of Technology, Delhi at 182 is the second and the Indian Institute of Science, Bangalore at 184 is third in the line. In contrast, a Chinese university is listed at 16 th rank and seven other Chinese universities are amongst two hundred globally ranked universities. This may be primarily due to poor performance of the Indian universities in research citation per faculty for which thirty marks are earmarked. Another thirty marks are allocated for perception of research, grants generated, and research output per faculty.

Dr. Vinodh Bhat, Vice chancellor, Manipal Academy of Higher Education:

“Although the KR Committee strongly recommends the internationalisation of India’s higher education system, its draft report is somewhat vague on several critical aspects of internationalisation. For instance the report is silent on the issue of inviting international faculty to teach in Indian HEIs. Moreover, though some references have been made in the committee’s report about an International Education Centre, no details are provided about its activities or mandate. There is also no mention of international collaborations for research purposes, although the KR Committee advises the HRD ministry to sign MoUs with specific countries for collaborations.

However, details of how to enhance collaboration between universities in different regions of the world are not mentioned,”

Table 1 GER comparison across countries (2014) Primary (Class 1-5)

Upper Primary (Class 6-8)

Upper Secondary (Class 9-12)

Higher Education

India

101.4

89.3

62.5

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China

103.9

100.4

88.8

39.4

USA

99.5

101.9

93.2

86.7

101.6

104.6

65.5

Germany 103.3

reforms are borne out of an over-reliance on ‘narratives’ rather than ‘numbers’. If emphasis is shifted from narrative-framing to process-framing, it becomes easier to account for the areas of improvement and offer a scientific rationale for policy.

How does India’s NEP create political capital for policy makers on education while at the same time hold and measure such policies against scientific standards?

No country can derive a plan of action without being exposed to relative comparisons with policies of other countries.

Although it is possible through blissful as well as willful ignorance; however every policy is increasingly measured against global criteria. Notwithstanding the allegations of ‘aping’ policies of other countries, the draft NEP precisely misses the larger picture vis-à-vis how India fares against other countries in its education policy. Although the planned proposal for the introduction of the semester system at the school level is one of the many attempts to ‘westernize’ India’s educational landscape, there is a concerted effort to ramp up ‘domestic self-reliance’ at the cost of global competitiveness.

By domestic self-reliance, India’s HRD Minister Ramesh Pokhriyal suggested that Indian institutions must be judged on the basis of domestic ranking systems such as the ATAL Ranking of Institutions on Innovations Achievements and National Institutional Ranking Framework (NIRF).

Accordingly, it shouldn’t matter that our relative position visà-vis other countries, based on global ranking and countrylevel statistics, has a massive scope for improvement. In fact, such a posture would only reverse the gains of previous educational policies as effectiveness must be measured based on a country’s relative position with respect to other countries rather than its own national trajectory.

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NATIONAL EDUCATION POLICY 2019

5 CORE WAYS NEP 2019 WILL CHANGE INDIAN HIGHER EDUCATION For example, the below table (Table 1) depicts the Gross Enrolment Ratio (GER) across various levels of education among India, China, USA and Germany. These figures must be disconcerting to any Indian policy makers who decide to frame policy based on the country’s historical GER figures. If Germany’s numbers count as the benchmark from the primary to upper secondary level – maintaining the 100 percentile mark – India’s numbers flatter to deceive by comparison. While marginally better-off at the level of primary education, India’s dropout rate thereafter worsens at every successive level.

This is partly due to the success of the RTE Act as children in the primary school age category are enrolled at a suitable stage.

However, the worrying stat is the steep drop in enrolment from the upper secondary level to higher education, pointing to the lack of financial resources needed for children to pursue the latter stage of education. Moreover, the US does remarkably well in this level of analysis due to the state largesse received by higher education public universities. According to the All India Survey on Higher Education, the GER in higher education in India has increased from 20.8% in 2011-12 to 25.8% in 2017-18. But, the real issue lies in the non-literacy of a large section of the youth: as per the 2011 Census, India still had over 3.26 crore youth non-literates (15-24 years of age) and a total of 26.5 crore adult non-literates (15 years and above).

Any improvement in the GER should be necessarily linked with literacy rates. If a significant section of the youth continues to remain outside the job market, it hampers India’s growth numbers with a resultant rise in welfare expenditure.

Secondly, the much debated point about India’s investment in education as a share of its GDP. From

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Table 2: Total Public Investment in Education Country

Investment in 2017 (as % of GDP)

India

2.7

USA

5

UK

5.5

Brazil

6

the below table (Table 2), it is not difficult to gauge why countries like the US and UK attract the most students in terms of intake into their higher education institutions.

Both these countries have invested significant amounts into their university infrastructure and also fare exceedingly well at providing financial resources to students. However, it would be naïve to imagine India catching up with these two countries in the near future.

Brazil, on the other hand, stacks up well with India on most economic parameters.

Despite their apparent commonalities, Brazil still invests around 6% of its GDP in education compared to India’s meager 2.7%. It is, therefore, no surprise that Brazil’s literacy rate at 92.05% in 2015 is far superior to India’s 72% during the same year. It is estimated that the global literacy rate for people aged 15 and above is about 86 percent. Beyond any doubt, India’s lack of political attention to investment in education is a direct result of the literacy rate, which is steadily improving. To boost investment, the privatization of education has been mooted as a possible step. But where is the incentive for private players (who perish or survive based on tangible results) when the government’s apathy to education persists? Before private investment, the Indian

leaders and experts in education share their Views on

education and NEP 2019

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Manish Sisodia Deputy Chief Minister, Delhi

"Broadly, it is a good draft except a few small things here and there the concepts they have talked about are good. They have set targets that one has to reach rooftop but policy does not talk about step one that how will they reach there. That is what the disaster happened in no detention policy, right to education was made a fundamental right and no-detention policy was implemented without any preparatory measures. They could have said that in one year B.Ed programmes will be changed, next year books will be replaced, in the third year examination pattern will be revamped and then nodetention policy will be implemented. Teachers did not know what to do and how. They just knew that they were not supposed to fail children. Similar thing can happen here, NEP implementation may end up like the nodetention policy. They have defined some good concepts like introduction of learning outcomes. But how? Their B.Ed programmes are running on rot learning and so are teacher training programmes. Has the government asked the National Council of Teacher Education (NCTE) to work on a draft B.Ed. programme in accordance with NEP? Unless there is roadmap for implementation it is a good wishful draft. They must fix the linkages and there should be an year-wise timeline for implementation.”

Dr. Yajulu Medury, Director, Mahindra Ecole Centrale, Hyderabad

“The FM has rightly focused on the youth of the country and education is the tool for development.

The commitment to bringing in the new education policy and make sweeping changes in how education is imparted with the focus on learning outcomes will play a big role in bettering the education level.”

Table 3: Investment on Research and Innovation

Spending on research and innovation (% GDP)

Researchers (per lakh population)

Total Patent Applications

India

0.7

15

45,057

China

2.1

111

13,38,503

US

2.8

423

605,571

Israel

4.3

825

6,419

government must increase spending in public education and create a conducive environment for the entry of other players.

Thirdly, the lack of attention to research and innovation has continued to scar the credibility of India’s higher education institutes. While the above two tables offer a glimpse of the abysmal state of India’s education levels, this one (Table 3) points to a larger issue concerning the country’s lack of research output and successful patents. With a spending rate of only 0.7% on research and innovation, it is only natural that India’s institutions fail to feature prominently in any globally accredited ranking. China’s surge in the field of technology innovation is reflective of their quantum of patent applications. This is an area that warrants maximum attention, as the next technological revolution will be determined on the basis of a country’s innovation capacity.

India’s bright young minds need to be encouraged to file patents of their innovations. This could potentially start with an increased number of researchers per lakh population, who can produce valuable research output. Currently with just 15 researchers per one lakh population, India can learn from Israel’s experience in this arena. The country may have filed fewer patent applications, but the robustness of their research and innovation is directly proportional to their 4.3 % spending. By offering greater scope for expertise (with close to 825 researchers per lakh population), Israeli society continues to project sound numbers in the field of research innovation, SEASONAL MAGAZINE

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NATIONAL EDUCATION POLICY 2019

By K Kasturirangan

SOME OF THE KEY POLICY RECOMMENDATIONS OF DRAFT NEP 2019 Part A: School Education: 1.

1.Strong focus on Early Childhood Care and Education (ECCE): We take into account neuroscience research that indicates that up to 85% of brain development in children occurs by the age of six. The Policy therefore recommends a slew of measures to leverage this extremely fertile period in a child’s development maximally: a. Make pre-schools available in government schools, and make the transition from the Anganwadi into primary schools smooth so that rural children can receive early stimulation from the age of 3 onwards; b. Strengthen Anganwadis and allowing MHRD to take charge of the educational component of children from 3 years of age; c. Extend RTE to cover free and compulsory education for all children between the ages of 3-18 years; d. Expose children to multiple languages in their early years so that they will retain their language ability throughout their lives.

2.

2.Ensuring that every child attains Foundational Literacy and Numeracy by Grade 3 and certainly well before Grade 5.The age group of 3-8 years is being clubbed into the ‘Foundational Stage’ of education in which children will receive developmentally appropriate education and be allowed to attain literacy and

numeracy at their own pace. This is one of the most important reforms that have been suggested in this policy and no stone must be left unturned in order to reach this goal 3.

3.The goal of equitable and inclusive education is very tied to the goal of eliminating dropouts and to ensuring that every child that has dropped out at any stage returns to school and completes his/ her education till Grade 12. It is predominantly children from disadvantaged backgrounds, those with disabilities, girls, minorities and children livingin remote geographies who tend to drop out. The policy has a very strong focus on equity and inclusion and it advocates ensuring that every child gets an education until Grade 12.

School education will aim to ensure that every child – irrespective of where they live (difficult geographies such as hilly regions etc.) and which groups they belong to (tribals, minorities, children with disabilities, and so on) will be brought back into schools through the efforts of teachers, managements, social workers and counselors. Curriculum will be revamped and infrastructure improved so that it becomes interesting for the children to come back to school. In the case of higher education, given that GER is still only 25%, the policy tries to ensure that affordable education is available to students from disadvantaged backgrounds.

4.

4.Curriculum and pedagogy will move from a 10+ 2 design into a 5+3+3+4 design. This is a major departure from the present system for the following reasons: a. It seeks to ensure developmentally appropriate learning during the first 5 years of school (Foundational stage), between 3-8 years of age. In this period a child’s brain is developing rapidly and requires stimulation through play-based and inquiry-based learning, which will be provided to them. Children also have tremendous language learning ability at this stage so it is ideal that they are exposed tomultiple languages. b. In the +3 preparatory stage (grades 35) students will transition to a more structured learning system that builds on the previous stage. The aim will be to ensure that all children have attained foundational literacy and numeracy in their mother tongue. c. In middle school, grades 6-8, students will be introduced to subjects. This stage can be taught in a bi-lingual mode using mother tongue and English or other languages so that the student becomes fluent in both languages. Students will also receive exposure to vocational education during this stage. The focus will continue to remain on experiential learning. d. In the last stage (secondary) Grades 912 will be clubbed into one block and be taught at schools. This 4-year block will be used to help the student explore his/ her interests through combinations of subjects that can include sports, arts and humanities, sciences, music and dance, social sciences and also education in one or more vocations. It is expected that at the end of this stage, armed with 15 years of high quality education, it should be possible for most students to move on to taking up productive careers should they wish to do so.

Part B: Key policy approaches that are common to School & Higher Education: 5. Both, School Teachers and Faculty in Higher Education are key to achieving the goal of quality education. Utmost attention is being paid in the policy to the development and empowerment of

By K Kasturirangan SEASONAL MAGAZINE

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leaders and experts in education share their Views on

education and NEP 2019

Dr. B. Suresh, Pro Chancellor, JSS Academy of Higher Education & Research

A university needs to be a place where knowledge is created, where meeting of minds takes place, where innovation gives birth to the future needs, and the student comes out as a responsible and enlightened citizen. The relevance of the university and the impact that it is making on the society are the heart and soul of any university to be universally recognized and understood. Built on the strong foundation and legacy of JSS institutions, JSS Academy of Higher Education and Reasearch has emerged as one of the most respected institutions nationally and globally. ‘Quality’ and ‘Excellence’ have been the key drivers of the JSSAHER which is evident from the various strides it has made in the benchmarking initiatives nationally and internationally in a short span of ten years.

Prof (Dr.) Anoop Swarup, Founding Vice Chancellor Jagran Lakecity University: Quality in university education is dependent on quality of primary education, especially when university education is meant for masses in India. We need to promote international tie-ups and resource exchange programmes as a part of the system to get international exposure. We need to assign responsibility on reputed institutions to adopt promising / upcoming universities to train faculty and guide research. For example; IISc can go for such training for a smaller institution.”

Dr Ashok Kumar Gadiya, Chairperson, Mewar University: “We need a long term policy of higher education in India, which focuses on producing employable youth or become entrepreneurs. Job oriented and skill based technical and professional education to masses will go a long way in improving the situation. Research and innovation should be given to deserving and capable students. It should start from graduate level on competitive basis and scholarship should be given to all students who are engaged in research and innovation.”

quality educators, through focus on teacher preparation, continuous professional development, enlightened teacher evaluation policies and promising career growth paths. In this context: a. School-teacher preparation will move away from standalone teacher preparation colleges into the education departments of universities, and the present 2-year B.Ed course will be replaced by a 4-year liberal education programme in which content and pedagogy will be learnt together; b. The PhD programme in universities and research institutions will also focus on the preparation of PhD students towardsbecoming faculty by incorporating pedagogy courses and opportunities for teaching assistantships etc.; c. Adequate pathways for career progression will be provided to teachers and faculty, including roles in administration. Teacher and faculty evaluation policies will be revised to ensure that they receive credit for all services rendered to their institutions, communities and to society.

6. Vocational Education is a very important area for the Indian economy and for the employability of youth in the country. The draft NEP 2019 seeks to mainstream vocational education by requiring that all schools, and most colleges and universities provide vocational education that is integrated with school and higher education.

Students will be exposed to vocations in grades 6-8 and all students will take courses in at least one vocation during the secondary stage. Students will have the option to continue with vocational education during their Bachelors’ degree.

7. The focus of this policy is on strengthening the Government school system. One of the important ways of doing this is to support small schools with low enrolment, by making them part of a school complex. The latter is primarily an administrative construct intended to: i) support teachers and principals of small schools with support from fellow teachers in other nearby schools, ii) for sharing scarce resources such as libraries and computer labs, iii) for sharing human resources such as sports teachers, music teachers, counselors, and social workers, and iv) for ensuring self governance by a group of teachers and principals, with minimal interference from officials of the state governments. School complexes will help to make sure that smaller schools that

would normally be considered unviable can keep running and young children do not have to travel.

8. Central and State governments have multiple roles towards governance and regulation of education. These include i) policy-making;ii) funding; iii) academics standard setting including specification of curriculum and learning outcomes etc.; iv) regulation; and v) accreditation. The draft NEP 2019 has taken care to ensure that each of these tasks are separated out and entrusted to different autonomous bodies associated with governments so that there are no conflicts of interest, and overlaps in roles and responsibilities are reduced. For instance the Directorate of School Education that runs government schools also regulates private schools.

Instead this policy ensures that an independent regulator will regulate government and private schools on par.

The new regulatory structure is therefore more streamlined and healthy for the sector in the long term.

9. Technology in Education: The judicious use of technology can advance the aims of education considerably. There are basically four categories under which technology can be used in education.

These include: i) teacher preparation and development; ii) improving teaching, learning and evaluation processes; iii) enhancing educational access to disadvantaged groups; and iv) streamlining educational planning, administration and management. Of these, it is critical to be very careful with the use of technology in classrooms, particularly for young children. The policy has therefore recommended the creation of a National Education Technology Forum (NETF) consisting of experts that can make informed decisions on all aspects of the use of technology in education.

Part C: Higher Education: 10.Liberal education and the 4-year degree program: The policy has recommended breaking the silos of subject combinations which students are subjected to during their Bachelors’ degree presently. It recommends that higher education institutions offer more choice to students and provide them with broad multidisciplinary exposure across disciplines, as a foundation for their holistic development. To this end the policy also suggests the introduction of the 4-year undergraduate program so as to give sufficient time for students to SEASONAL MAGAZINE

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explore their interests and yet major in a particular subject.

11.Autonomy to Higher Education Institutions (HEIs) and closure of institutions that do not meet minimum quality standards: The policy seeks to phase out the affiliation system that has contributed immensely to the lowering of standards and the promotion of rote learning. It seeks to provide autonomy to the best performing institutions, as is the norm all over the world. Granting of autonomy will be on the basis of accreditation and the attainment of a minimum threshold standard. HEIs will be given approximately 10 years to work towards improving the quality of their faculty, their curriculum and the all-round educational experience they provide students with.

12.Professional education in medicine and its related disciplines, agriculture and related disciplines, law, and technical education including engineering, architecture and management, have been kept largely separate from general education in the Arts, Commerce and Sciences. The policy seeks to bring these areas of education in close contact with each other within the framework of liberal education. Autonomous HEIs in either sets of disciplines can choose to offer education in related disciplines in an organic way. Given that it is also important not to dilute the disciplinary requirements of specialized subjects such as medicine, the policy has also recommended that a SEASONAL MAGAZINE

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special committee be constituted to spell out the details of this integration in a suitable way.

13.Given the creation of a unified regulatory framework for all higher education including professional education and the conversion of all regulatory bodies such as MCI, BCI, INC, AICTE, NCTE and many others into professional standard setting bodies, and in the light of the introduction of liberal education, the policy recommends the creation of a new General Education Council (GEC) that can set standards for general education. The GEC will create a National Higher Education Qualifications Framework (NHEQF) for the guidance of all educational institutions, and the NHEQF, along with the NSQF (National Skills Qualification Framework), will facilitate student mobility between professional/ vocational education and higher education 14. Research has never been more essential for the economic, intellectual, social, environmental and technological health and progress of India. The new National Research Foundation proposed by the draft NEP will catalyze and energize research and innovation across the country in all disciplines, with a special focus on seeding and growing research at universities and colleges. It will create a conducive ecosystem for research through competitive peer-reviewed funding, careful mentoring and facilitation and a

focus on capacity building of young researchers across the country.

15. National Education Commission and optionally also the State Education Commissions:The National Education Commission (NEC) will first and foremost be a policy-making body that the education system in India does not currently have. It will oversee the education sector and ensure that the sector moves in the direction that is intended by the draft NEP 2019. Such a standing body that can respond to unintended consequences of policy implementation quickly and carefully steer the transformation of the education system is critical to the success of the policy. The NEC will gather and analyze data on the health of the system on a continuous basis for this purpose.

Gathering feedback in this manner will ensure that the primary stakeholders namely, the students, will get the education that they need for the 21 st century.

The NEC is also tasked with coordinating with the many ministries (as many as 19) that are involved with education. The education system is now in many silos and these need to be transcended so that students can get a holistic education.

Lastly, the NEC will help ensure better coordination with the state governments and local bodies as well as with all the other bodies that are involved in the administration, governance and regulation of education. States are free to create a similar policy making body for each state.

K

Kasturirangan, the eminent astrophysicist and the driving force behind the draft National Education Policy, 2019 has no illusions about the need for a revamp of the Indian education system. In his words, the continuation of the previous education policy (NEP 1986) and Programme of Action (1992) would not do justice to the technological transformations that have impacted the field of education in the 21st century. Right from online skilling software to train teachers to virtual classroom lectures for students, technology will shape the future of India’s education. Further, he pointed out that the onset of the Fourth Industrial Revolution (IR 4.0), which is based on greater automation and highly technical jobs, would require the exposure to work demands that equips the workforce of tomorrow. In an exclusive interview with Seasonal Magazine, Chairman of the NEP panel Dr Kasturirangan spoke about the need to sustain this policy at least for the next three decades.

1.It has been over 33 years since the last National Education Policy was drafted. There have been some recommendations and incremental changes over the years, since then, without addressing certain core concerns. What has been the main driving force behind the new National Education Policy (NEP 2019) and do you regard it as a game-changer as far as improving the Indian education system is concerned?

The document clearly enunciates the importance of revisiting the existing educational policy after you said rightly 33 years. I should say there are several changes in the social, economic, political, strategic and technological fronts among other things that have taken place both in India and globally.

For example, there was no significant influence of internet in the various endeavours at the time the last policy was formulated. We have to further prepare our self for the disruptive impact of the 4G revolution where appropriate education/ professional competence are to be brought in.

India’s participation in the Sustainable Development Goals -4 (SDG-4) is another dimension. Lastly, the economy itself is moving towards India becoming the 5th largest globally (a 5 $ trillion economy) and hopefully moving towards becoming the 3rd largest with 10 $ trillion. We have also taken into account validity of the new policy at least for two decades and with limited tuning for the next three decades.

2.A disturbing trend seen in the NEP 2019 is the centralization of powers – for creation and regulation of universities - into one new body, NHERA. Won’t this result in the Union Government having the final say in all such critical affairs, whereas now there was much more decentralization with multiple regulatory bodies as per the subject

domain, as well as absolute powers to start new universities lying with the Parliament and state legislatures?

Regarding the concerns on centralization, I would like to categorically state that there is no implicit or explicit agenda to push centralization. Education being a concurrent subject, the policy has been extremely careful not to encroach on State’s rights. These impressions are being created without proper assimilation of the appropriate sections of the policy document.

3.Some of the bodies that will be relegated to insignificant stature, if NEP 2019 is implemented as such, like UGC have been there even before we had the first education policy, and they have served the nation well. Do you think relegating them all like UGC, AICTE, professional councils etc is a sound and democratic idea?

Restructuring the Governance of Higher education such as assigning a bigger role to UGC in the context of the full responsibility to funding cannot be certainly called “relegating”; same is the situation with respect to other bodies. In the present situation there are too many overlapping roles between different bodies and with questionable mandates regarding specific steps these bodies impose into the educational system.

4.A gaping hole that many observers have pointed out in the new policy is the lack of adequate measures for the upliftment of economically backward and socially backward students, especially as there are no recommendations as to how to make governments fund this need. How will you counter this view?

In the context of addressing economically and socially backward students, you will appreciate that this policy has identified much more number of measures and also strengthening many of the current ones

than ever before. The fund allocation by the government is a process which cannot be a part of the policy, if all the recommendations identified in the policy are appropriately implemented, I think the concerns regarding this issue do not arise.

5.With a strong emphasis on the need for for-profit institutions in India’s higher education ecosystem, the policy seeks to bring parity between the government institutions with private ones in terms of research funding, accreditations etc. Do you think this would encourage competitiveness between the two or is there a risk of government-run institutions losing out on quality?

In areas like research funding, this country deserves a strong and vibrant research system spread over different types of institutions. The whole idea is to make sure that the institutions with different models of funding receive same fair considerations based purely on outcomes based assessments and evaluation.

Needless to emphasize, this puts all institutions in the competitive domain.

6. At the primary school level, there has been a suggestion to bring “unrepresented groups” into school and focus on educationally lagging “special education zones”. While laudable, how does it propose to provide equal and quality access to education to both rich and poor children? Further, do you think the lack of a common minimum infrastructure and facility standards, below which schools cannot fall, would widen the gulf between the poorly funded and richer schools?

School complexes and other related strategies identified will help optimizing the overall resources arising out of suboptimal classroom infrastructure, certain cadre of teachers, playgrounds, libraries and so on. the policy elaborates fairly exhaustively on these issues.

7.It has been observed that the country’s estimated 300,000 private pre-primary schools are far superior in terms of the quality of ECCE (early childhood care and education) they provide to youngest children, than the Central governmentpromoted anganwadis which host 50 percent of India’s 164 million children in the 0-5 age group. What would you suggest to rectify this area given ECCE is an important indicator of a child’s access to quality education?

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NEP 2019 Stakeholders Who Were Asked Suggestions & Some of Their Views

Dr. Ashwath Narayan C N, Minister for Higher Education, Karnataka

The Draft National Education Policy 2019 built on the foundational pillars of Access, Equity, Quality, Affordability and Accountability is a forward looking policy that will change the educational landscape of India and prepare our children and youth to meet present and future challenges.

Government of Karnataka under the leadership of Shri B.S. Yediyurappa will include all the stakeholders of the education sector in Karnataka and formulate an action plan to implement this policy.

Sudhir Angur Chancellor Alliance University

Santosh Choubey, Chencellor, AISECT

Satnam Singh Sandhu Chancellor, Chandigarh University

Prof. Prof. John Varghese Principal, St. Stephen's College Varghese

Mrs. Sushma Paul Berlia Chancellor, Apeejay Stya University

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I would only like to say that the preprimary school education today among many of the so-called “high quality” 3000 private schools do not address the issues of the child’s brain development, developmentally appropriate education and paying enough attention to the aspect of difference in brain development before 8 years of age. This is the crux of our early childhood care and education including care at home between the age 0-3, followed by a wellintegratedAnganawadi system with pre-primary system have a strong education component. “Quality” private pre-primary schools are mostly downward extension of primary school curriculum not addressing the critical developmentally appropriate approach.

8. With regard to vocational education and training, the Committee has put forward some interesting recommendations like for example that ‘50 percent of youth should have access to VET by 2025’. Some have pointed out that the goal is a bit modest on the implementation front given the massive gap between skills of the job-ready workforce and industry demands. What are some of the urgent reforms needed in this area?

Vocational Education is a very important area for the Indian economy and for the employability of youth in the country. The draft NEP 2019 seeks to mainstream vocational education by requiring that all schools, and most colleges and universities provide vocational education that is integrated with school and higher education.

Students will be exposed to vocations in grades 6-8 and all students will take courses in at least one vocation during the secondary stage. Students will have the option to continue with vocational education during their Bachelors’ degree.

9.Many have praised the Committee’s recommendations in the higher education sector especially that the “professional education be integrated with liberal education”. Barring a handful of private higher education institutions which offer high quality liberal arts education, what are some of the suggestions to impart this stream of education to more number of

institutes. How would you address the resultant need for teacher workforce to impart the liberal arts education? How do you view the current practice of hiring ad-hoc teachers in public universities?

On the question of higher education, liberal education would entail in the initial phases creating nexus between institutions teaching humanities, social sciences and the mainstream education involving science mathematics and professional & vocational subjects. With time this can evolve organically in to an integrated approach for undergraduate liberal education as you build up the capacity within the concerned institution. The policy strongly disapproves the current practice of hiring ad-hoc teachers in public universities and have set clear deadline to stop this undesirable practice.

10.What was the thinking that went behind the proposal to setup the National Research Foundation (NRF)? Do you think this would make higher education private universities an attractive option to prospective students and researchers?

Regarding the National Research Foundation, the need to create a vibrant research innovation system in the country has never been more urgent from the developmental and economic point of view. The poor researcher-population ratio, low level of patents emanating from the country’s research, next to nil situation regarding Indian industries of taking advantage of the research outcomes from the country, besides, the research not having any worthwhile impact on the sociological front such as dealing with health, environment, agriculture and many other related areas all needs to be rectified in the coming years. NRF is a very ambitious program in this connection which needs not only financial investment but also structural transformations on funding, management of the programs, dynamic review systems, culture of accountability and timedictated outcomes deliver all of which need bringing in a new culture and mode of working. The focus is primarily on the University system.

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RESEARCH

NO GAY GENE EXISTS, SAYS LARGE GENOME STUDY A new study seems to firmly bury the idea of a so-called “gay gene.”

Scientists looked at the genes of nearly a half million people and couldn’t find any genetic variations that could reliably predict someone’s same-sex behavior. Rather, they argue, our sexual preferences are influenced by a complex mix of our environment, life experiences and some genetic markers.

institutions took great pains to make sure their study would be carried out responsibly. 23andMe, for instance, asked customers for consent to be included in this specific dataset, separate from the permission asked for general research purposes. The nature of the study, which involves deidentified data and confidential surveys, should also mean that no one can figure out the identity of a volunteer or their stated sexual orientation.

Because they only relied on selfreported sexual behavior, for instance, they might be missing some people attracted to the same sex but who have never acted on it or who don’t feel comfortable disclosing that history. And while someone may have had sex with someone of the same sex, that doesn’t necessarily mean they identify as gay or lesbian, so the authors refrained from using those sorts of terms.

he international research team, which includes scientists from Sweden, Denmark, the UK, and the U.S., looked at genetic data collected from earlier studies and projects, including from the consumer DNA testing company 23andMe. In total, just over 470,000 people were included.

“There is no single gay gene but rather the contribution of many small genetic effects scattered across the genome.”

The researchers performed a type of analysis known as a genome-wide association study. These studies sweep through the genomes of people and look for any variations in genes also called markers that could be linked to whatever other variables they’re testing for. In this study, that variable was whether a person had reported ever having sex with someone of the same sex.

“This study is the largest and most thorough investigation into the genetics of same sex sexual behavior to date,” said study author Ben Neale, director of genetics in the Stanley Center for Psychiatric Research at the Broad Institute of MIT and Harvard University, in a press conference on Tuesday. The study was published Thursday in Science. All told, there were five markers that were “significantly”

associated with same-sex behavior. That means that these genetic markers were found often enough in people with a history of same-sex behavior that they could be a relevant contributor. But if even someone had all these markers at birth, the authors estimated, they would be less than 1 percent more likely to someday report same-sex behavior than someone born without them.

Neale and his team’s research doesn’t suggest that genes play no role in our sexual orientation, though. There are likely thousands of other common genetic markers that might affect sexuality, they noted. But the influence is so small on an individual level that it would take studying many more people to find them. The authors estimated that all of these markers the five found in their study and the many more still unknown could account for 8 to 25 percent of the variation found in whether someone will engage in samesex behavior.

But according to Neale, the findings “also underscore an important role for the environment in shaping human sexual behavior and perhaps most importantly [that] there is no single gay gene but rather the contribution of many small genetic effects scattered across the genome.”

The authors and their respective

Another limitation of the study is that it only includes people whose assignedat-birth sex and self-reported gender match, meaning there’s nothing these results can say about people who are transgender or non-binary. The data is also drawn entirely from people of European ancestry, so there’s no telling whether the same specific mix of genetics and environment would play out among other groups when it comes to sexual orientation.

These qualifications aside, the study might upturn another common narrative about sexual behavior. Some of the datasets let them look at more specific behaviors, such as how many partners people had of either sex. And the authors found that there was little overlap between the genetic influences behind whether someone had ever engaged in same-sex behavior and the degree to which they had same-sex partners (i.e, having sex mostly or exclusively with the same sex).

In other words, the authors said, there’s no evidence on a genetic level that “the more someone is attracted to the same sex, the less they are attracted to the opposite sex.” Common measures of sexual orientation, such as the Kinsey Scale, rely on that simple continuum, but the findings seem to show our sexual preferences are more complicated than that.

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AUTO

THERE ARE LUXURY CAR BRANDS, AND THEN THERE IS BUGATTI THE BUGATTI CENTODIECI WILL COST $9 MILLION AND ONLY 10 WILL BE MADE.

his car is an homage to the Bugatti EB110 supercar of the early 1990s.

Centodieci means 110 in Italian. The EB110 was built in Northern Italy's "Motor Valley," not far from where Lamborghini, Ferrari and Maseratis are made. It was an attempt to revive the Bugatti brand, which had been dormant since the 1950s. The Centodieci's design recalls the EB110s low, aggressive appearance.

That business ultimately failed, but the automobile it created is still regarded as one of the greatest supercars ever made.

The prototype for the EB110 was designed by Carlo Gandini, the same man who designed the Lamborghini Countach. The final production versions of the car were designed by Giampaolo Benedini, who was also an avid racing driver.

Volkswagen Group purchased the Bugatti brand name in 1998 and built its modern production facility at Bugatti's ancestral home in Molsheim, France. With the backing of one of the world's largest automakers, Bugatti now makes fast cars for the extremely wealthy, much as it did in the first decades of the 20th century.

Until recently, the modern Bugatti factory produced only one car model at a time. The Veryon was offered from SEASONAL MAGAZINE

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2005 to 2015, with various changes and improvements made throughout its life.

Then the Chiron entered production in 2016. Both cars were designed to be astonishingly fast but comfortable and easy to drive, thanks to massive turbocharged 16-cylinder engines mounted behind the two seats.

When it was first introduced, the Bugatti Veyron cost about $1.5 million. The Bugatti Chiron costs more than $3 million.

The Centodieci is Bugatti's latest attempt at branching out. During last year's Monterey car week, a series of automotive events leading up to the annual Pebble Beach Concours d'Elegance in August, Bugatti unveiled the Divo. It started at almost $6 million and, Bugatti promised, only 40 would be made.

Then, at the Geneva Motor Show last March, Bugatti unveiled another special car of which only one would be made.

At almost $19 million, including taxes, Bugatti claimed that La Voiture Noire was the most expensive new car ever sold. Much of that car's value stemmed from its extraordinary exclusivity being that the owner, whose name was never revealed, will have the only one.

All three of these new Bugatti models are substantially similar, in terms of their underlying engineering, to the Chiron.

All have Bugatti's turbocharged 16-

cylinder engine although, in the Centodieci, it's specially tuned to produce up to 1,600 horsepower, 100 more than the Chiron. This car is also slightly lighter than the Chiron. It can go from a full stop to 60 miles an hour in just 2.4 seconds. But its top speed is limited to 236 miles an hour, which is lower than the Chiron's.

The body of the Centodieci is designed to be reminiscent of the low, wide stance and wedge-like shape of the EB110.

"Transporting this classic look into the new millennium without copying it was technically complex, to say the least," said Bugatti designer Achim Anscheidt.

The Centodieci's horizontal headlamps set into the hood mimic those of the EB110, but they're narrower and more aggressive thanks to modern LED technology. Instead of the Chiron's swooping C-shaped lines around the big side vents, the Centodieci has openings with straight edges and a cluster of round holes. The Centodieci also has a permanently raised rear wing, unlike the Chiron's wing, which can be lowered so that it lays against the car's body. Both those features - the vent holes and raised rear wing - were drawn from the Bugatti EB110 SS, a very high performance version of that car. All 10 of the supercars have already been pre-sold. Customers were able to order their Centodieci in, literally, any color they like.

AUTOBIOGRAPHY

YASHWANT SINHA: MEMOIRS OF AN ACCOMPLISHED PUBLIC FIGURE From humble beginnings to the corridors of power, former Finance & External Affairs Minister Yashwant Sinha has had a distinguished career as a parliamentarian and public figure. He belongs to the tradition of civil servants who found a higher public calling and worked his way through the rough and grind of India’s political system. An erudite speaker with a sedate personality, Sinha was not the rank outsider in politics he was often depicted to be.

Despite his frustration with the netas during his stint in the IAS, Sinha developed a political acumen, which led people to highly regard his talent. Two of his mentors – the late former Prime Minister Chandra Shekhar and BJP stalwart L K Advani – had the benefit of receiving his often measured and poignant opinions during the most challenging times. e began his political career under the stewardship of Chandra Shekhar, the leader of the Samajwadi Janata Party and quickly rose through the ranks.

Despite his fond attachment to the party, Sinha ruefully recollects the days leading up to his eventual switch to the Bharatiya Janata Party (BJP) when he could not personally apprise Shekhar of his decision. In his own words, etched in his autobiographical account Relentless, Sinha reminisces that ‘leaving Chandra Shekhar and his party was one of the most gut-wrenching and painful experiences of my life.’ In a selfdeclared embarrassing manner, Sinha writes that he wrote Shekhar a letter regarding his exit and sent it via R P Singh, a Delhi-based labour leader, without being able to muster the courage to even meet him. Curiously, Advani would often quip him about what Shekhar’s reactions was to him joining the BJP. According to his book, Sinha would not meet him for months until he received news that he would attend a public function where his first political mentor was slated to take part in. In order to avoid the awkwardness, Sinha finally decided to call on Shekhar and he invited him to Bhondsi. Sinha narrates that, barring a few moments of uncomfortable silence, Shekhar initiated the conversation and eased him into the situation. In an interesting revelation about Shekhar’s assessment of his decision, Sinha points out in his book

that the former PM told him that he had ‘enjoyed a degree of credibility in politics, which had been destroyed after he joined BJP and that he would have to work very hard to regain the same.’

In addition, Shekhar warned him that the BJP does not promote those without an RSS background and that he is likely to be used and discarded. Although Sinha cites later instances when Shekhar would criticize him publically, the former restrained himself from retaliating against the latter’s jibes out of respect.

As a respected politician who had the dubious record of holding the second shortest term in office as Prime Minister from November 1990 to June 1991, Shekhar soon lost political capital and resigned himself to his Lok Sabha constituency in his later years. However, this did not rupture the personal relations between the two. The book captures Sinha’s own personal and professional tribulations and the people

who shaped his career. Later himself shunned by the BJP after Modi’s rise to power, Sinha’s work further endears the reader to his memorable relationship with Chandra Shekhar. In a hearty excerpt from the book, Sinha narrates Shekhar’s common response to people who would ask him the reason behind his protégé joining the BJP: “On one such occasion, he explained it with the help of a story, saying ‘One of my friends had fallen ill. When news of the illness reached me, I decided to pay him a visit in the hospital. Upon reaching there I was told that he had been admitted in the tuberculosis (TB) ward, which made me doubly worried.

When I finally met him in the TB ward and asked him what the matter was, he assured me there was no need to worry.

He only had a cough, cold and fever but since no other beds were available except in the TB ward, he was being kept there. Chandra Shekhar then likened this to exactly what had happened with me. According to him, I had found a bed in a TB ward for treatment of something ordinary like a cough and cold, only because no other bed was available!”

The time: June 1998. The place: A room in Parliament. Finance minister Yashwant Sinha had presented the Budget - and raised petrol and urea prices. Members of Parliament erupted in protest. Sinha stormed into his room where I had been waiting to interview him, asked his secretary to get a senior functionary on the phone and exploded into the phone as I was being shooed out.

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YASHWANT SINHA: MEMOIRS OF AN ACCOMPLISHED PUBLIC FIGURE Sinha is a courteous politician. But he does not have a thick skin. In 1967, the Bihar cadre IAS officer was the deputy commissioner of Santhal Parganas district.

Irrigation minister Chandrashekhar Singh had shouted at him in public. Sinha protested. Chief minister Mahamaya Prasad Sinha shouted at him and told him to look for another job. Sinha's classic reply: "Sir, I am a gentleman and expect to be treated as one. I am not used to being shouted at. And as far as looking for another job is concerned, I can become a chief minister someday, but you can never become an IAS officer. " Bihar chief secretary B.D. Pande would later tell

widely rumoured in New Delhi when he was finance minister - he was not particularly close to then prime minister Atal Bihari Vajpayee. In fact, Tarun Das, Director General of the Confederation of Indian Industry (CII), an influential business lobby organisation, advised Sinha to see Vajpayee more often. Sinha and the prime minister grew closer later after Sinha became external affairs minister.

In the book, he casts light on several matters. V.P. Singh offered him the governorship of Punjab. Sinha consulted Chandra Shekhar and turned it down.

The Congress party, which was

Did Manmohan Singh have a memory lapse when he appeared before the allparty joint parliamentary committee (JPC) formed after the Harshad Mehta scam broke?

Sinha was a member of the JPC. He felt that Manohar J. Pherwani, who had been appointed the chairman of the Unit Trust of India (UTI) by the Rajiv Gandhi government and was sacked by the V.P. Singh government, had indulged in malpractices. The Narasimha Rao government had reappointed Pherwani to UTI. Asked about this, Manmohan Singh said he had not appointed Pherwani; his predecessor (Sinha) had. Sinha demanded that the committee should call for the file. Singh had signed it.

Incidentally, Pherwani denied any wrongdoing in an interview to me days before he died.

Sinha and foreign secretary Kanwal Sibal shot down a proposal to return Jinnah House in Mumbai to Dina Wadia, industrialist Nusli Wadia's mother. Vajpayee had cleared the proposal, made by Jaswant Singh, Sinha's predecessor, but Sinha persuaded the prime minister to reverse his decision. Predictably, that put paid to Sinha's friendship with Nusli Wadia.

him: "Yashwant, in the civil services, you must have the skin of a rhinoceros."

Sinha writes in his autobiography, "I have never been able to develop a thick skin, much less one like a rhinoceros."

Sinha, of course, is no stranger to the public. A poor boy who studied in Hindi-medium schools, he worked hard, taught political science at Patna university, got into the IAS, married an ICS officer's daughter, thus marrying into high society (as he puts it). He writes here of life in the boondocks of Bihar, in the bureaucratic worlds of Patna and New Delhi, and his switch to politics and eventual rise to power. His two political mentors were former prime minister Chandra Shekhar, in whose short-lived government he served as finance minister, and BJP doyen L.K. Advani.

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supporting the Chandra Shekhar government from outside, wanted former finance secretary S. Venkitaramanan to replace R.N. Malhotra as Reserve Bank of India's governor. So, Sinha had to ask Malhotra to resign. Venkitaramanan would grapple with a foreign exchange crisis.

He told me in Chennai that he had proposed handing over the Indian embassy properties in Tokyo and Beijing to real estate developers to net $1 billion.

P.V. Narasimha Rao invited him to defect to the Congress party, which had 232 MPs. Sinha was then a member of Chandra Shekhar's Samajwadi Janata Party that had five MPs. Perhaps, Rao hoped that other SJP MPs would follow Sinha into the Congress. But Sinha did not bite. Instead, he joined the BJP.

Although he had swadeshi sympathies, Sinha was never a member of the Rashtriya Swayamsevak Sangh (RSS).

The two were out of sync. He says in the book, "Most of these people were prisoners of an ideology that had long become irrelevant... Unfortunately, it carries great conviction with the gullible, as does the complete nonsense that is dished out by the bhakts on social media these days." Sinha rebelled and quit the BJP. Today he stands marginalised. Ministers do not reply to his letters.

This is a good, interesting book, rich in detail - sometimes too much detail.

Why, for instance, write about so many countries that he dealt with as foreign minister? Still, it is a well-edited book.

I could spot only one major error "Nusli Wadia's sister Dina Wadia, sister of Muhammad Ali Jinnah". Dina Wadia was Jinnah's daughter, not sister, and Nusli Wadia's mother.

IN-FOCUS

MAKING OYO FLY HIGHER

When Aditya Ghosh joined the team building IndiGo in 2007 in a pivotal role, his future and current employer, Ritesh Agarwal was still in high school, all of 13 years of age! Ghosh went on to make IndiGo the country's largest airline by pursuing a no-frills model, whereas Ritesh Agarwal during the last six years, went on to create Oyo Hotels & Homes, the world's third largest hospitality chain. Since December 1 2018, 43-year old Ghosh has joined ranks with 25-year old Agarwal to make Oyo not just the world's largest hospitality chain, but the first global brand made-in-India.

Ritesh Agarwal ince Aditya Ghosh's entry, Oyo has invested Rs. 1,400 crore to its India and south Asia businesses, which he heads as CEO. Its global operations too are booming. The company is now present in over 800 cities across 18 countries, backed by marquee investors like Japan’s Softbank. It has set up 100 properties across 25 cities and towns in the UK, besides planning to expand to Saudi Arabia and Vietnam. Founder Ritesh Agarwal's aim is to make the now six-year-old brand, now the world’s third-largest hotel chain, to be the world’s largest by 2023. Since Ghosh's high profile entry, Oyo has been able to attract talent from established companies in India and around the world, even at senior leadership levels, from the likes of Unilever, ITC, Bain, Uber, Amazon etc. Earlier this year, Oyo

Aditya Ghosh was placed third in LinkedIn's Top Companies 2019 List of the companies most employees preferred to work for, just after Flipkart and Amazon and beating the top banks and IT companies.

Oyo currently has over 12,000 employees and has plans to add 3,000 more employees over the next 4-5 months. Additionally, the company has set up 22 OYO Skill Institutes in India for training frontline staff in every aspect of hotel management. Oyo is also spawning a huge ancilliary industry.

Already one of the largest purchasers of linen, toiletries and essential hotel supplies in the country, OYO is also helping empower multiple ancillary industries in the hospitality ecosystem by leveraging scale to make bulk procurements that are supporting local businesses. Every month, OYO utilizes over 40 lakh toiletry kits across 270,000

exclusive rooms which are a part of its chain while procuring over 40,000 units of linen. The company is also moving into the premium segment. Oyo is entering the four-star hotels segment in India with the purchase of a 64-suite building in Ahmedabad for an undisclosed amount. The brand is aiming to enter the five-star and seven-star hotels categories as well. The company also nurtures dreams beyond hospitality. Last month, it acquired co-working startup Innov8. Last August, it had acquired Gurugram-based wedding marketplace Weddingz.in. OYO Hotels & Homes have expanded its presence in India to over 500 cities covering the length and breadth of the country as the company intensifies its presence and commitment to one of its key home markets. Quartz’s Ananya Bhattacharya caught up with Aditya Ghosh for an interview: SEASONAL MAGAZINE

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It’s been a little over eight months since Aditya Ghosh joined OYO as its India CEO. Before this the 43-year-old had helped build India’s largest airline IndiGo from the ground up. He chose the startup gig reportedly after turning down a job at Tata Sons that involved helping plan the group’s acquisition of Jet Airways.

Since Ghosh’s stint at OYO began, the unicorn has dedicated Rs1,400 crore ($197 million) to its India and south Asia businesses. During this time, it has also set up 100 properties across 25 cities and towns in the UK, besides planning to expand to Saudi Arabia and Vietnam.

The company is now present in over 800 cities across 18 countries, backed by marquee investors like Japan’s Softbank.

The six-year-old brand, now the world’s third-largest hotel chain, will become the world’s largest by 2023, believes its 25-year-old founder Ritesh Agarwal.

“Like in any journey, as the company evolves, as you stretch into different geographies and different roles, the centre (India business) needs to become even more stable,” Ghosh said.

Besides, the company nurtures dreams beyond hospitality. Last month, it acquired co-working startup Innov8. Last August, it had acquired Gurugram-based wedding marketplace Weddingz.in.

Quartz chatted with Ghosh about his time at the young, booming startup.

Below are some edited excerpts from the conversation.

How has your time at OYO been so far?

It’s been a phenomenally exciting journey for me in several ways.

One is the size of the opportunity we’re chasing. Being part of the team writing this story, there’s a fighting chance we’ll become the first truly global brand out of India. For the very first time, you see an (Indian) brand on the street corner in hundreds of cities around the world.

Next is just the sheer talent of the people I get to work with. I know it sounds like a cool thing to say but I mean it in all seriousness. Every day, I’m learning something new, that I had no idea about even after working for 20 years. And I hope I’m in that fortuSEASONAL MAGAZINE

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kind of hotel. If you’re going alone but on holiday, you’ll use a different hotel.

So these are some of the many varying shades and complexities I’m learning all the time. Sometimes, it feels like we’re drinking out of a hosepipe but all in all, it’s very exciting.

THE SIX-YEAR-OLD BRAND, NOW THE WORLD’S THIRD-LARGEST HOTEL CHAIN, WILL BECOME THE WORLD’S LARGEST BY 2023, BELIEVES ITS 25-YEAR-OLD FOUNDER RITESH AGARWAL. nate position for many years to come.

Most CEOs and business leaders, after a while, may not have that opportunity where they go back home at night and say, “Today, I learned something new.”

So I’m super excited. Does that mean I’m sleeping less? Yes, I think so. But all for the right reasons.

You moved from IndiGo, a big publiclylisted company, to a startup. What are the similarities and differences?

Ritesh and I often talk about this. IndiGo was also (working) out of one room when I got involved. The similarity (with OYO) is that you’re addressing a market with supply constraints. We’re taking a product which is, by and large, expensive, and where customers are expecting consistent quality.

By building a business differently, you’re able to provide that product at a fundamentally lower price, thereby expanding the market.

What’s different is that, in the hotels business, a consumer’s consumption pattern changes, depending on the reason for his travel and the people he’s travelling with. For example, from Mumbai to Delhi, if you’re going alone on a business trip, you’ll use a certain

BY BUILDING A BUSINESS DIFFERENTLY, YOU’RE ABLE TO PROVIDE THAT PRODUCT AT A FUNDAMENTALLY LOWER PRICE, THEREBY EXPANDING THE MARKET.

What is it like having a 25-year-old leader?

This is a particularly interesting question for me because I was the 33-year-old at one time where I had direct reports who had been in the business longer than I was born. Now the roles have reversed.

Ritesh is gifted with not just an audacity to dream but comes with great ability to chase that dream and drive people to pursue excellence. I really do enjoy working with him. Frankly, it doesn’t occur to us that he’s 25. Just as I hope he’s not constantly thinking “Aditya’s almost double my age.”

With OYO expanding aggressively into different geographies and sectors, where does its India business stand?

There’s this line that I often borrow from the late yoga guru BKS Iyengar who said, “Find your centre and then stretch.” I think it’s the responsibility of the India team to be that centre around which we can grow and evolve and acquire new capabilities.

How does having a global leadership team and overseas investors like Softbank help?

I’m acutely aware that I owe a responsibility to all the investors. I used to run a publicly-listed company where I felt I had the responsibility of thousands of investors and I don’t feel any different here. I feel that equal pressure or exhilaration—whatever you want to call it—towards not just one investor, but the whole ecosystem.

Some of the many multinational colleagues we have at OYO now, you know, leadership members from China, the Netherlands, the US, the UK, Malaysia to Indonesia, give the opportunity for people like me to constantly see what are the different cultural aspects they bring, how they think of the same problem and try to solve for it differently, and so on. It’s a very rich environment both from the board and the investor world and also colleagues.

MUSK WANTS TO NUKE MARS, AND WHY IT IS USELESS Leading entrepreneur Elon Musk – aka Lex Luthor in spirit — is on social media yapping about nuking Mars again. He’s not trolling; he’s not acting as a provocateur; he really wants to bombard the surface of our planetary neighbor with actual nuclear weapons.

INDIAN MICROFINANCE SECTOR TO DOUBLE IN 5 YEARS, SAYS MUHAMMAD YUNUS India’s microfinance industry is expected to double its lending business to the poor in the next five years if the growth momentum continues, said Nobel Peace Prize winner and founder of Grameen Bank, Muhammad Yunus.

With size, there would also be some challenges, which the industry should be geared to handle, he said.

lon Musk thinks bombarding Mars with nuclear weapons will kick-start the planet and make it habitable by releasing trapped carbon dioxide into the atmosphere. He has been pushing this theory since at least 2015 when he told Stephen Colbert that Mars was a “fixer-upper” and that we could fix it by nuking it. According to scientists, he’s mostly wrong.

NASA research indicates that dropping nuclear weapons on Mars will release some carbon dioxide, but not enough to make it even close to Earth-like. A 2018 study indicates that there simply isn’t enough carbon dioxide on the planet to make that big a difference. Currently, Mars‘ has an atmospheric carbon dioxide content of about .6 percent of the Earth‘s.

If we let Elon Musk fire off nukes at it, scientists believe that’ll raise it to a mere

NASA research indicates that dropping nuclear weapons on Mars will release some carbon dioxide, but not enough to make it even close to Earth-like.

7 percent of the Earth‘s.

But that’s not stopping the controversial billionaire engineer from riling up his 28 million Twitter fans with tweets talking about nuking the red planet and selling T-shirts: It’s unclear where Musk’s getting his information from – he could be speculating or riffing off of related research – but we’ve been able to find nothing peer-reviewed to indicate that terraforming Mars is possible in any way using current technology.

According to Sa-Dhan’s Bharat Microfinance Report 2019 released by Yunus here, the Indian microfinance industry clocked a growth of over 40 per cent, with a gross loan portfolio of ?178,552 crore in loan outstandings at the end of March 2019.

Yunus said the trend shows that the industry would double itself as the pace of growth and base have increased.

“Given this impressive record, it has now all preparation for doubling itself in the next five years. Whatever the industry has done in the last 25-30 years, you would see it double in the next five years, as it has gained tremendous speed now,” he said.

The idea that humans will inhabit the red planet beyond outposts and expeditions anytime in the near future is laughable. But it’s possible Musk is a fan of science fiction writer Kim Stanley Robinson who wrote about using nukes to terraform Mars in his trilogy about the planet. Robinson no longer believes it’s possible though, so even if it’s based in fiction Musk‘s still out on a limb here.

A significant number of serious scientists believe it will take hundreds or thousands of years to colonize Mars.

Others believe it will never happen. But one thing’s certain: Mars‘ problems can’t be solved with nuclear weapons any more than Earth‘s.

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CLIMATE CHANGE

WILL YOUR YOUR CITY CITY SINK? SINK? WILL LOOK NO NO FURTHER FURTHER THAN THAN LOOK JAKARTA JAKARTA INDONESIA'S CAPITAL JAKARTA IS A CITY THAT IS SINKING INTO THE OCEAN AND THEREFORE ON BRINK OF DISASTER.

there," he added, motioning off in the distance. "Over time the water just kept getting higher and higher." Even as Widodo presses on with the plan for a 21st century capital in Borneo island, local authorities are desperately probing solutions for Jakarta. A scheme to construct artificial islands in Jakarta's bay, which would act as a buffer against the Java Sea, as well as a vast coastal wall was approved.

But there is no guarantee the estimated $40 billion project -- which has been beset by years of delays -- would solve the city's sinking woes. Building barriers has been tried before. A concrete wall was built along the shore in Rasdi's district and other high-risk neighbourhoods. But they have cracked and show signs of sinking already. Water seeps through them, soaking the maze of narrow streets and shacks in the city's poorest neighbourhoods. "Building walls is not a permanent solution," said Heri Andreas, an earth scientist at the Bandung Institute of Technology.

ne of the fastest-sinking cities on earth, environmental experts warn that one third of it could be submerged by 2050 if current rates continue.

Decades of uncontrolled and excessive depletion of groundwater reserves, rising sea-levels, and increasingly volatile weather patterns mean swathes of it have already started to disappear.

Existing environmental measures have had little impact, so authorities are taking drastic action: the nation will have a new capital. Its location could be announced imminently, according to local reports.

"The capital of our country will move to the island of Borneo," Indonesian leader Joko Widodo said on Twitter. Relocating the country's administrative and political heart may be an act of national preservation, but it effectively sounds the death-knell for Jakarta where many of the city's 10 million residents have little means of escape. "When the floods came I used to tremble," food stall owner Rasdi told AFP.

This rampant groundwater extraction causes land subsidence, which is making Jakarta sink by as much as 25 centimetres (10 inches) a year in some areas -- double the global average for major coastal cities. Today some parts of it sit some four metres below sea level, irrevocably changing the landscape, and leaving millions vulnerable to natural disasters.

"I nearly drowned back in 2007 -- all my belongings were swept away and I had to start over again," said from his home close to Jakarta's northern port, one of the worst affected by sinking ground.

Flooding is common during the tropical nation's wet season and that is expected get worse as sea levels rise due to global warming. The partly submerged skeleton of an abandoned mosque at the waterfront underscores the severity of the problem, while vast puddles scar the roads, and for some the ground floor of their homes is no longer habitable. Murky green water flows along the floor of an abandoned building, while tiny shacks on stilts line the garbage-strewn waterfront.

"You can see it with your own eyes," said Andri, a 42-year-old who liked many Indonesians goes by one name.

Built in an earthquake zone, on

"When I was a kid I used to swim over

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swamplands, near the confluence of 13 rivers, the city's foundations have been further stressed by unchecked development, heavy traffic, and poor urban planning. Jakarta doesn't have a piped water system in its northern reaches, so local industry and millions of residents tap into its aquifers.

"We need to go to the next step and fix our water management." The hub of Southeast Asia's biggest economy has seen breakneck development over the years. New buildings and skyscrapers are compressing the ground, which aggravates its sinking problem. But the biggest culprit is excessive groundwater extraction, and the city has no way to meet demand without it due to a lack of water-retention facilities or a comprehensive piping network, Andreas said.

Jakarta is not the only sinking urban centre. Cities from Venice and Shanghai to New Orleans and Bangkok are also at risk, but Jakarta has done little to tackle the problem head on, according to Andreas. "They've taken steps to mitigate it," he said of other sinking cities. "It's expensive. But if we look at the future consequences, it'll be worth it. "The thing we always have problems with is where to start," he added. Many who earn their livelihood in Jakarta's most dangerous neighbourhoods don't have the luxury of time to wait for a solution - or the means to escape.

"Of course I'm worried, but there's nothing I can do," said Rastini, who scrapes by de-shelling clams caught by local fishermen.

The 40-year-old added: "I've been here since I was a kid and I'll stay here."

CRISIS

WHO ALL CAN REPLACE SAUDI OIL? THE ATTACKS CUT SAUDI PRODUCTION BY 5.7 MILLION BARRELS A DAY. HERE IS A LIST OF COUNTRIES THAT COULD BOOST CRUDE PRODUCTION TO OFFSET LOSSES FROM SAUDI ARABIA IN THE EVENT THAT THE DISRUPTION TO SUPPLIES FROM THE ATTACKS ON ITS ABQAIQ AND KHURAIS PROCESSING FACILITIES LASTS LONGER THAN INITIALLY EXPECTED. IT'S NOT A LONG LIST AND MUCH MAY NOT BE ACCESSIBLE. he attacks cut Saudi production by 5.7 million barrels a day and officials at state oil company Saudi Aramco have become less optimistic on the pace of output recovery. The maximum spare capacity that could be brought into production in the coming weeks is estimated at about 3.9 million barrels a day.

That figure should be treated as a exercise in optimism, though. It includes restarting production from the Neutral Zone shared by Saudi Arabia and Kuwait, as well as tapping Saudi Arabia's own spare capacity, much of which may also have to be processed at the Abqaiq or Khurais facilities and therefore be unusable.

Saudi Arabia August production: 9.83 million barrels a day Production capacity: 11.5 million barrels a day Usable spare capacity: up to 1.67 million barrels a day On paper, Saudi Arabia has about 1.7 million barrels a day of spare production capacity, but the precise location of that reserve is unclear. If it is in the giant Ghawar, Shaybah or Khurais fields, it's unlikely to be of any use, as crude from those fields is processed at Abqaiq.

There is some spare capacity at offshore fields, such as Manifa and Safaniyah. Offshore crude is not processed at Abqaiq, so these fields could be pressed into service.

United Arab Emirates August production: 3.07 million barrels a day Production capacity: 3.4 million barrels a day Usable spare capacity: 200,000 to 330,000 barrels a day

U.A.E. output peaked at 3.27 million barrels a day in November 2018 and levels beyond that have not been tested on an on-going basis. This suggests the country could boost output by somewhere between 200,000 and 330,000 barrels a day.

Kuwait August production: 2.68 million barrels a day Production capacity: 3.15 million barrels a day Usable spare capacity: 470,000 barrels a day Kuwait's reported crude production capacity is 3.15 million barrels a day, excluding its share of the Neutral Zone that it shares with Saudi Arabia, but it has not produced more than 3 million since the 1970s. Current production of 2.68 million barrels a day suggests it could increase output by at most 470,000 barrels.

Neutral Zone August production: Zero Production capacity: 500,000 barrels a day Usable spare capacity: 500,000 barrels a day Shared by Kuwait and Saudi Arabia, the Khafji and Wafra fields in the Neutral Zone have been shut since 2015 as a result of a dispute between the two countries. They have the capacity to pump as much as 500,0000 barrels a day of heavy oil. Khafji is a northern extension of Saudi Arabia's Safaniyah field.

Restarting production in the Neutral Zone cannot be done overnight, though. Saudi Energy Minister Abdulaziz bin Salman said in Dubai last week that issues on the Neutral Zone are mostly technical and that he expects to have a "clear picture" on them within the next couple of months.

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Russia August production: 11.29 million barrels a day Production capacity: 11.45 million barrels a day Usable spare capacity: 160,000 barrels a day Russia has been cutting oil production as part of the OPEC+ deal. Output reached a peak of 11.45 million barrels a day in December, before the latest cuts came into effect in January.

The country's oil companies can certainly restore output to that level and may be able to go beyond it. Winter often sees an increase in Russian oil production, as increased domestic natural gas use results in a boost to flows of condensate, a light form of crude pumped from gas fields, although this is not a good substitute for most Saudi export grades.

Kazakhstan August production: 1.85 million barrels a day Production capacity: 2 million barrels a day Usable spare capacity: 150,000 barrels a day Although Kazakhstan is a member of the OPEC+ group, its only supply reduction this year has been the result of planned maintenance at its largest oil fields. August oil production was restricted by maintenance at the country's largest field, Tengiz, where works were completed in early September. Planned maintenance is now underway at the Karachaganak field until mid-October, which has taken output back down to the average August level. Kazakhstan will not be able to boost crude production until that work is completed.

Angola August production: 1.4 million barrels a day Production capacity: 1.53 million barrels a day Usable spare capacity: 65,000 barrels a day Angola's oil production has been crimped by maintenance and by steep decline rates at its offshore fields that have not been offset by new prospects being brought into production.

August output was 1.4 million barrels a day, down from 1.53 million in October, but the country would probably struggle to lift output back to that higher level and keep it there for any length of time.

Algeria August production: 1.02 million barrels a day Production capacity: 1.07 million barrels a day Usable spare capacity: 50,000 barrels a day Algeria has cut output as part of the OPEC+ agreement, although it remains unclear how much of the reduction of about 50,000 barrels a day since November is voluntary and how much, if any, is the result of natural decline at the country's oil fields.

Oman August production: 970,000 barrels a day SEASONAL MAGAZINE

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Production capacity: 1 million barrels a day Usable spare capacity: 30,000 barrels a day Oman's Ministry of Oil and Gas reported production at 970,000 barrels a day in August. That puts its spare capacity at just 30,000 barrels a day, a little more than the 25,000 barrels it agreed to cut under the current OPEC+ deal.

U.S. August production 12.37 million barrels a day Production capacity: 12.5 million barrels a day Usable spare capacity: 130,000 barrels a day U.S. oil production has plateaued at an average level of 12.37 million barrels a day since recovering from the impact of Hurricane Barry at the end of July. A jump in weekly production numbers to 12.5 million barrels was not sustained and output slipped back to 12.4 million the following week production is now reported to the nearest 0.1 million barrels a day. U.S. crude exports have been back up above 3 million barrels a day since mid-August.

More than 10 new export terminals have been proposed for U.S. crude, capable of handling about 8 million barrels a day, but the first of these is unlikely to be operational before 2022 at the earliest. Export infrastructure may be the limiting factor in any U.S. output boost in the coming weeks and that could restrict the upside to about 475,000 barrels a day.

Iran August production 2.21 million barrels a day Production capacity: 3.83 million barrels a day Usable spare capacity: Zero With exports crippled by U.S. sanctions, Iran could theoretically boost production by about 1.6 million barrels a day. But with the U.S. blaming it for the attacks curbs on the country's oil sector are likely to get tougher, rather than ease.

Other OPEC+ countries None of the other OPEC countries has any significant spare production capacity.

Iraq, which increased its oil production to a record 4.78 million barrels a day in August, agreed at the OPEC Joint Ministerial Monitoring Committee meeting in Abu Dhabi last week to rein in supply. Oil Minister Thamir Ghadhban says he gave orders to start cutting crude exports, with a reduction of at least 125,000 barrels a day from September. Those cuts will now probably be reversed, but output is unlikely to rise much above August's level.

Other OPEC countries are pumping at, or very close to capacity levels. Output from Libya remains hostage to the security situation in the country, but is close to the highest levels achieved since the toppling of Moammar Al Qaddafi in 2011.

Production from Nigeria has been rising with the start-up of new fields and a reduction in the number of attacks on oil pipelines in the Niger River delta region. Production is now back close to levels last seen in 2015, with little scope for further quick increases.

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DEPLOMACY

FRANCE: INDIA’S NEW RUSSIA THE INDO-FRENCH BROMANCE CAN ONLY BE MUTUALLY BENEFICIAL As the full picture of the Indo-French bromance emerged after the latest visit of Prime Minister Narendra Modi to France twice in three days, commentators have begun to say that France is now as close to India as the Soviet Union/Russia was earlier.

he depth and sweep of the relationship can be compared only with IndoSoviet relations during the Cold War. Such relationships emerge only when the international situation and the complementarities in the two countries dictate them.

In the case of the Soviet Union, the relationship transcended even ideological differences. In the case of France, there was no such barrier ever and there was a steady growth of political, economic, defence and nuclear cooperation, culminating in a multifaceted relationship that was witnessed this week.

At a time when the United States condemned India in the name of the SEASONAL MAGAZINE

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international community in 1998 on account of the nuclear tests, the French voice stood apart from the rest of the western world on the need for nuclear power and a minimum deterrent.

It was in the same year that a Strategic Partnership was established between the two countries, which has grown into a bilateral relationship with a close and growing convergence of views on a range of issues.

As a new global order, characterised by the withdrawal of the US from its commitments in Europe and Asia came in view, it was only natural that France and India found each other as partners with great potential.

The bilateral visit at which a whole new architecture of cooperation was built

and the opportunity provided to PM Modi to be a guest at the G-7 meeting took the relationship to a higher level.

The areas of defence and security cooperation, space cooperation and civil nuclear cooperation constitute the principal pillars of the Strategic Partnership.

In addition, India and France are increasingly engaged in new areas of cooperation such as in the Indian Ocean region, climate change (including the International Solar Alliance) and sustainable growth and development, among others.

In the economic domain, French businesses and enterprises have forged strong linkages with the Indian economy and industry. There exist vibrant

an Industrial Way Forward Agreement.

bilateral cultural and educational linkages as also growing people-topeople contacts.

Discussions between EDF and NPCIL have been ongoing with the objective of expeditious realisation of the project, even though the nuclear market is down after the Fukushima accident and public opinion in India is against the French reactors in Jaitapur.

Indian diaspora also has a sizeable presence in metropolitan France and its overseas territories.

India and France share a close degree of convergence on a range of regional and global issues. France has continued to support India’s claim for permanent membership of the Security Council and the reforms of the United Nations.

France continues to support India’s bid for accession to the NSG. India and France are steadfast partners in the fight against climate change.

India and France have consistently condemned terrorism and have resolved to work together for adoption of the Comprehensive Convention on International Terrorism (CCIT) in the UN. Following the Pulwama attacks, France steadfastly supported India and nationally listed the Pakistan-based ‘global terrorist’ Masood Azhar, which was followed up with the listing at the UN. India and France have had regular exchange of visits at the highest level.

Annual bilateral visits at the highest have now become a regular feature, not to speak of numerous visits at various levels, including an annual dialogue between the two defence ministers.

The crucial decision that the Government of India took to order the French Rafale fighter aircraft in 2010 was based not only on the technical capabilities of the plane, but the reliability of France as a supplier and a potential partner.

The charges against the deal have died down after the elections and during the present visit, it was confirmed that delivery will begin very soon.

Another fleet of 36 aircraft is under negotiations. The Indian Air Force certainly needs these as the old aircraft, dubbed as “flying coffins” are still fighting our battles.

Of course, Varthaman shot down an F16 with a MIG, but that is another matter. Although the details are not known, the Rafales are equipped with super-secret weapons and this is also a friendly gesture on the part of the French. France is also supplying six

TP Srinivasan submarines over a period of time.

India and France have a rich history of cooperation in the field of space for over fifty years with ISRO and the French Space Agency, CNES carrying on various joint research programmes and launch of satellites.

Building on the historical linkages in the arena of civilian space, both India and France issued a “Joint Vision for Space Cooperation” during the visit of President Macron to India (March 2018).

The Joint Vision spells out the concrete areas of future cooperation in this field.

France continues to be a major supplier of components and equipment for the Indian space programme.

It is in the area of nuclear energy that France has been supportive of India at the IAEA and elsewhere.

An agreement on civil nuclear cooperation was signed between India and France on 30 September 2008 during the visit of the then Prime Minister of India to France.

Under that framework, the French utility company EDF and NPCIL signed a (revised) MoU on 22 March 2016 for the construction of six EPR units at Jaitapur of 1650 MWe each. During the visit of President Macron to India in March 2018, NPCIL and EDF concluded

UNDER THAT FRAMEWORK, THE FRENCH UTILITY COMPANY EDF AND NPCIL SIGNED A (REVISED) MOU ON 22 MARCH 2016 FOR THE CONSTRUCTION OF SIX EPR UNITS AT JAITAPUR OF 1650 MWE EACH.

The windows that France opened to PM Modi by inviting him as a guest for outreach with the G-7 were most valuable. The bilateral meetings he had there, particularly with President Trump, were historic.

The open meeting between PM Modi and President Trump began on a tense note because of their different perspectives on Kashmir, but after the PM spelt out his position and the President conceded that the matter was bilateral between India and Pakistan, the atmosphere and the body language became cordial.

Trump, who had characterised Kashmir as “explosive’, said that the situation was now under control. Later, the White House claimed that the President reduced tensions between India and Pakistan and did not mention the mediation offer. PM Modi had useful bilateral meetings, including with the German Chancellor Angela Merkel.

The French President had also invited the Iranian Foreign Minister Zarif to be available at the meeting, obviously after consulting the Americans and President Trump acknowledged his presence.

It appeared that there were some contacts with the Iranians, but no announcements were made. It was clear that President Trump was exploring a peaceful resolution of the Iran nuclear question. On hearing the comment that France was now India’s new Russia, a former Ambassador of India to France, Dr Mohan Kumar remarked that it was not a matter of France replacing Russia, but it joining Russia as a loyal strategic partner of India.

In other words, we have two good friends, not just one. The more the merrier!

(The writer is a former Ambassador of India and Governor for India of the IAEA. He is also the Chairman, Academic Council and Director, NSS Academy of Civil Services and Director General of the Kerala International Centre) SEASONAL MAGAZINE

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Dr. B. R. Shetty, Founder & Chairman, BRS Ventures

NMC HEALTHCARE IS TODAY THE LARGEST PRIVATE HEALTHCARE COMPANY BASED OUT OF UAE, WITH OVER 200 HEALTHCARE FACILITIES THAT INCLUDE HOSPITALS, MEDICAL CENTRES, LONG TERM CARE FACILITIES, DAY SURGERY CENTRES, FERTILITY CLINICS AND HOME HEALTH SERVICES IN 17 COUNTRIES ACROSS THE WORLD. SEASONAL MAGAZINE

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IN-FOCUS

By John Antony

BRS VENTURES

CAN BRS VENTURES REGAIN THE MOMENTUM?

While India has produced many professionals and businessmen who have been high achievers across the globe, the achievements of Dr. BR Shetty can outshine most of them. From an ordinary immigrant from Karnataka to UAE in the early 70's, Dr. BR Shetty's empire – BRS Ventures - has grown magically across sectors and geographies. His flagship chain of hospitals, NMC Healthcare is the largest private hospital chain in UAE, is listed at London, and has grown multi-times in market cap since going public in 2012. A few months back, this billionaire businessman took his second largest company, Finablr (home to Travelex & UAE Exchange), too public in London, and is now planning another UK IPO for his sprawling pharma empire, Neopharma within the next few years. However, starting late last year, the group’s largest company, NMC Health’s stock had lost wind and started sliding, with some analysts putting it on the company’s high leverage model for rapid expansion. The group’s financial services firm, Finablr too had a challenging time, with a reduced IPO price and weak debut, on concerns of reduced sheen for financial services in the face of heightened competition from social media giants in the payments space.

Dr. Shetty also owns a few key hospitals in India and is eyeing more now under the BR Life brand, even though Indian hospital sector too has been facing serious headwinds. Will BRS Ventures be able to ride out these setbacks in its core markets and regain its earlier momentum, is the million dollar question now.

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ince the late 60s and early 70s of the last century, millions of immigrants from India, especially South India, have thronged the shores of United Arab Emirates in search for a better living. While many succeeded in their ambitions, there are few parallels to the achievements of Dr. BR Shetty who hailed from Udupi, Karnataka.

Bavaguthu Raghuram Shetty landed in Abu Dhabi in 1973, not just for a job, but for a means to repay a debt his family had taken upon. All he had with him was a degree in clinical pharmacy and a few dirhams. His plan was not to stay in UAE for long, but just enough for him to repay the debt. His heart was in India, especially his land of Udupi.

There was enough reasons for him to come back to India soon. Deeply interested in local politics, BR Shetty was a born leader, an activist of Jan Sangh (predecessor of today’s BJP) , who successfully contested local elections and became the Vice-Chairman of Udupi Municpal Council at a young age itself.

There were also enough hardships in his work in Abu Dhabi as a medical representative, to make him think of coming back. Amidst the sweltering heat, young Shetty – who prides himself as the first medical representative in the UAE – often lived without airconditioners and had to lift heavy barrels of medicines on his back.

Working hard, BR Shetty could also pay back the family debt within two years.

Anyone else would have returned home. The UAE of then was a far cry

STARTING LATE LAST YEAR, THE GROUP’S LARGEST COMPANY, NMC HEALTH’S STOCK HAD LOST WIND AND STARTED SLIDING, WITH SOME ANALYSTS PUTTING IT ON THE COMPANY’S HIGH LEVERAGE MODEL FOR RAPID EXPANSION. SEASONAL MAGAZINE

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from the luxurious UAE of today. But something about the Emirates made him fall in love with it, especially his turf of Abu Dhabi.

United Arab Emirates was only starting to emerge on the Middle East and Asian stage for the first time, fuelled by the successful oil explorations in Abu Dhabi. Emergence of UAE and the emergence of Dubai based on tourism, on the world stage, still had not happened back then. But young Shetty realized that it was a golden opportunity to be a pioneering businessman there during its formative years.

As a keen observer of the society around him always, BR Shetty was quick to spot a goldmine of an opportunity in Abu Dhabi and the rest of the Emirates. While there were enough government hospitals, there were practically no private hospitals or clinics. There was a reason too for this Binay Raghuram Shetty Vice Chairman and CEO, BRS Ventures

– treatment at the government hospitals was practically free.

Most people would have missed this opportunity, just because competing against free government hospitals made no sense. But young Shetty foresaw that if a private hospital could offer better treatment with better ambience and facilities there would be takers, given

that a new breed of wealthy citizens were emerging rapidly in Abu Dhabi and UAE. There was also another reason for his decision. The then ruler of Abu Dhabi and founder of UAE, His Highness Sheikh Zayed Bin Sultan Al Nahyan, had publicly expressed his desire for the Emirate and UAE to start having private healthcare facilities too. There were also some promising policy measures to encourage such ventures.

Thus was born the New Medical Centre (NMC) in Abu Dhabi, in 1975 as a small clinic, just two years after BR Shetty had landed in Abu Dhabi, just to repay a debt and come back to India. Needless to say, there was no looking back after that.

NMC’s first and only doctor during the initial phase was Dr. Chandrakumari Raghuram Shetty, his wife. Right from those first days to even now, Dr. Chandrakumari, also known as Dr. CR Shetty, has been playing a pivotal role in the amazing growth of her husband’s business empire, especially its medical wing. Dr. BR Shetty has always regarded her as the true pillar of his enterprise.

The husband-wife duo worked hard to bring up their small clinic, and proved the naysayers wrong, when the small clinic was expanded to a full-fledged hospital in 1981. The same year also saw the setting up of NMC Trading, which distributed medicines to pharmacies in the UAE. This division would later expand into distribution of fast-moving consumer goods, medical equipment and supplies and educational products.

Starting from 1996, Dr. BR Shetty started his geographic diversifications, which continue to this day. NMC Clinic

THE GROUP’S FINANCIAL SERVICES FIRM, FINABLR TOO HAD A CHALLENGING TIME, WITH A REDUCED IPO PRICE AND WEAK DEBUT, ON CONCERNS OF REDUCED SHEEN FOR FINANCIAL SERVICES IN THE FACE OF HEIGHTENED COMPETITION FROM SOCIAL MEDIA GIANTS IN THE PAYMENTS SPACE.

BEYOND BUSINESS eyond his business ambitions, Dr B.R Shetty is a strong proponent of contributing to social justice through philanthropic activities.

As the famous educator Booker T Washington’s saying goes, “If you want to lift yourself, lift up someone else” and this undoubtedly captures the essence of Dr B.R Shetty’s life as a humanitarian worker.

His altruism is not a factor of the immense wealth he has created for himself and to those he has provided a livelihood; it runs in his very veins.

B

Right from his early days, before he moved to the UAE with little personal savings to his credit, Dr. Shetty served as the ViceChairman of the Municipal Council in Udupi where he worked toward providing proper sanitary facilities, building concrete roads, schools, underground drainage and septic tanks. His early recognition of the need to provide basic amenities ensured that the health and living standards of the community were in place. This stint instilled a sense of community-building in the budding entrepreneur, which continues to serve as the burning philosophy in all of his business ventures.

Given his early exposure to issues that affect the lives of the most underprivileged sections of society, Dr Shetty has carried out some praiseworthy social initiatives in various fields. Realizing the imminent global problem of waste management at a time when corporations often ignored its resultant hazards, his setting up of the Al Ahlia waste treatment plant was an idea well ahead of its time. The plant would collect medical and other industrial waste and incinerate it in an eco-friendly way.

In the field of healthcare services, where he pioneered numerous initiatives, Dr Shetty’s BR Life took over the Karnataka government’s Mother & Child Hospital in Udupi and constructed a new hospital which is currently offering free medical care to the underprivileged people in the region. By upgrading the rudimentary facility into a world-class health care facility, the new hospital is a PPP model that is worth emulating across the country. The 200-bed hospital, with advanced diagnostic facilities, is a blessing to the state’s weakest sections that will go a long way in providing high quality healthcare services.

The philanthropic activities of Dr. Shetty and family are channelized through the Dr. BR and CR Shetty Foundation. Adopting a sustainability approach, the foundation’s work mainly focuses on the areas of education, health, poverty alleviation and community empowerment. As someone who sticks to his core principles that manifest in his businesses as well, Dr Shetty is a firm believer that humanitarianism goes beyond national boundaries. He has provided aid during natural and human calamities in countries including India, Nepal, Bangladesh, Japan, Indonesia, Turkey, Sri Lanka and Thailand.

He also supports the Special Care Centre in Abu Dhabi and the Rashid Centre for the Disabled in Dubai.

For his noteworthy contributions in the field of healthcare and education in the UAE, Dr Shetty is a recipient of ‘Order of Abu Dhabi’, the highest civilian honor bestowed by the Government of Abu Dhabi. Similarly he was the recipient of the prestigious ‘Padma Shri’ award by the Government of India in 2009. For his efforts at improving the lives of the NRI Community, Dr Shetty was conferred ‘Pravasi Bharatiya Samman Award’ in 2007 by the former President of India, the late Dr. APJ Abdul Kalam. In spite of the bulk of his engagements abroad, Dr Shetty has not forgotten his roots – a testimony to his remarkable efforts in social service in his home district of Udupi. He was duly awarded Karnataka Rajyotsaya Award by the Govt. of Karnataka in 1997. In a business and philanthropic career that has spanned over four decades, Dr Shetty does not seem unfazed by the challenges that lie ahead of him. Most importantly, he is looking for newer ways to tackle these challenges, which in a way defines his unwavering entrepreneurial streak.

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was started in Sharjah in 1996, NMC Hospital, Deira, Dubai came into being in 1999, NMC Specialty Hospital, Dubai, in 2004, and NMC Specialty Hospital in Al Ain in 2008.

Right from day one, NMC had been set up to offer something superior in quality to its patients, as government run facilities in UAE were not bad. This focus on superior quality has helped NMC Hospitals and it became evident when in 2009, four of its hospitals were awarded the coveted JCI accreditation.

2012 was a strategic year for NMC Health, for multiple reasons. Firstly, it went for its Initial Public Offer at London Stock Exchange. It was the first ever IPO by an Abu Dhabi company at London, and has come to symbolize the way Dr. BR Shetty has been running his company, with transparency and high ambition. While an LSE listing assures large companies like NMC Health on liquidity, the transparency requirements are much tougher than in say India or Dubai.

Secondly, 2012 saw NMC being awarded the management of the Shiekh Khalifa General Hospital in Umm Al Quwain, which is a business as well as service model that Dr. BR Shetty is most bullish on, not only in UAE, but elsewhere, including India, where he has started pursuing it.

After being a listed player, NMC Health’s momentum increased dramatically. Soon it started BR Medical Suites in Dubai Healthcare City, and expanded operations in Khalifa City and in Al Ain's industrial area. In 2013, NMC added a day-surgery centre in Mohammed Bin Zayed City, Abu Dhabi.

Soon it also opened the NMC Hospital

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in Dubai Investments Park, NMC Brightpoint Royal Women's Hospital, and the NMC Medical Centre in Al Ain. Starting from 2015, a new phase - of inorganic growth – was undertaken.

NMC Health acquired the Spain-based Clínica Eugin in 2015, which made NMC the leading integrated women's health provider from fertility through obstetrics and paediatrics in the UAE. That same year, the company also acquired four different UAE based medical groups - Dr. Sunny Healthcare Group, Provita, Americare Group, and Fakih IVF. Organic growth was also pursued aggressively and in 2016, NMC Health opened the largest private sector hospital in the UAE in Khalifa City, Abu Dhabi, called NMC Royal Hospital.

2016 also witnessed the company expand its operations into Saudi Arabia by acquiring a 70 percent stake in As Salama Hospital in Al Khobar. NMC Health has also invested in a project to build a 120bed care centre in Jeddah that will be managed by its subsidiary Provita.

In the same year, NMC Health announced the acquisition of Al Zahra

UNDER THE BR LIFE BRAND, THE GROUP HAS BEEN EXPANDING IN INDIA RECENTLY, BUT THE INDIAN HOSPITAL SECTOR TOO HAS BEEN FACING SERIOUS HEADWINDS.

Dr. Chandrakumari Raghuram Shetty Group Medical Director

Hospital, one of the largest private hospitals in the UAE, thereby consolidating its position in the Emirates.

In mid-2018, NMC took a strategic step when it bought Aspen Healthcare of United Kingdom which runs two hospitals, in Wimbledon and Sheffield.

With growth being pursued this aggressively by both organic and inorganic routes, the stock of NMC Health witnessed a dramatic upsurge at London Stock Exchange, growing by ten times within the last 7 years. It is a constituent of London Stock Exchange’s prestigious FTSE 100 Index and included in Morgan Stanley’s MSCI Global Index.

Dr. BR Shetty may not have returned to India in the 70’s as planned, but he started taking a keen interest in his home country, starting from the turn of the millennium. He took over the SUT Hospital of Thiruvananthapuram, Kerala in 2001, and has since then started the 400 bedded SSNMC Super Specialty Hospital in Bengaluru and Kalinga Super Specialty Hospital, in Bhubaneswar, Odisha. The Group has also taken over

Dr. Neema Shetty

the troubled Seven Hills Hospitals in Mumbai and Vizag.

The Group’s Indian healthcare operations come under the BR Life brand, and includes a Government General Hospital in Udupi that it manages by charging patients nothing.

BR Life’s current bed strength is 1500 with plans to scale up to 20,000 beds through organic and inorganic routes, for which Dr. Shetty has plans to invest as much as $5 billion.

NMC Healthcare is today the largest private healthcare company based out of UAE, with over 200 healthcare facilities that include hospitals, medical centres, long term care facilities, day surgery centres, fertility clinics and home health services in 17 countries across the world.

With a team of over 2,000 doctors and 20,000 paramedical and support personnel, across its network, NMC treats over 8.5 million patients every year across UAE, Saudi Arabia, Kuwait, Oman, Yemen, Jordan, Egypt, Kenya, Seychelles, United Kingdom, Spain, Italy, Denmark, Latvia, Sweden, Slovakia,

Mrs. Reema Shetty Bitar

USA, Colombia and Brazil.

Dr. BR Shetty is also the founder of a sprawling financial services empire, Finablr, which is home to several leading global financial service brands including UAE Exchange, a global money transfer, foreign exchange and payment solutions provider, and Travelex, the world's leading foreign exchange specialist.

Following his listing of NMC in 2012, Dr. Shetty took Finablr also public, in London itself, this year. The company and its subsidiaries have been forging rapid ties to internet and social media giants to take growth in financial services to the next level.

Dr. Shetty’s early interest in pharma trading and distribution activities has, in the meanwhile, grown into an empire of its own – Neopharma – with multinational drug manufacturing and distribution facilities, including an antibiotic manufacturing facility that it

Mrs. Seema Shetty

acquired in USA, last year. Following NMC Health’s and Finablr’s steps, Dr. Shetty has plans to take Neopharma too public within the next few years.

A hands-on leader, Dr. BR Shetty leads his companies as the Executive Chairman, and is ably assisted by his only son, Binay Shetty as Vice Chairman and Chief Executive Officer. Binay graduated from Boston University, Massachusetts, USA, with specialization in Finance and Entrepreneurship.

Apart from his wife Dr. Chandrakumari R Shetty as Group Medical Director and son Binay Shetty as CEO, this pathbreaking entrepreneur is also helped to carry on his vision by his three daughters, Dr. Neema Shetty who is a dental surgeon, Reema Shetty the entrepreneur behind Foodsters Inc of Dubai, and Seema Shetty the entrepreneur who founded Zari Zardozi, a leading Indian fine dine restaurant in Abu Dhabi.

A detailed questionnaire addressing various aspects of the group's operations remained unanswered at the time of publishing this story.

WILL BRS VENTURES BE ABLE TO RIDE OUT SETBACKS IN ITS CORE MARKETS AND REGAIN ITS EARLIER MOMENTUM, IS THE MILLION DOLLAR QUESTION NOW BEFORE INVESTORS.

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DEFENCE

NEWS OF TIMELY DELIVERY OF RUSSIAN S-400 TRIUMF IS GOOD NEWS FOR IAF

India will receive delivery of the first batch of Russian S-400 Triumf air-defence missiles by 2023. Russia has received an advance payment for S-400 air defence missile systems from India. e will deliver the first batch (out of the five squadrons of S-400 missiles) by 2023,” said Roman Babushkin, Deputy Chief of Mission, Embassy of Russia.

According to Russian Trade Commissioner Yaroslav Tarasyuk, India made 20 per cent of the payment towards the $5.2 billion missile deal under the new payment mechanism.

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in rupees and pay Moscow in ruble under the new payment mechanism.

Due to difficulties from banking restrictions, the payment was done through the rupee-rouble settlement.

The issue has been highlighted by Russian defence manufacturers and government officials after Indian banks stopped processing payments related to defence deals due to risks of US sanctions under the CAATSA (The Countering America’s Adversaries Through Sanctions Act) law.

presence in India, will also be directed to get engaged in defence deals between New Delhi and Moscow.

The VTM Bank of Russia, which has

India even rejected US counter-offers of

Threat of US sanctions America has threatened to impose sanctions on India under the CAATSA legislation. India signed a $5 billion (Rs 35,000 crore) deal with Russia to buy five systems of this missile that NATO calls the SA-21 'Growler'. The deal was concluded against strong objections from the US.

the Patriot Advanced Capability-3 (PAC3) and Terminal High Altitude Area Defense (THAAD) to stop the sale.

Washington has objected to India buying the missile partly because it has applied sanctions on Russian arms firms, but it's mainly because of the formidable capabilities of the S-400 missile. The missile, the US fears, will jeopardise future arms sales of high-performance aircraft, such as the F-35, to India.

Washington has already taken such an action against China. The country is also contemplating the same for Turkey, which recently purchased the missiles from Russia.

The announcement of Russia’s delivery plan was made in the backdrop of Union Minister for Foreign Affairs S. Jaishankar’s visit to Moscow and his meeting with Russian counterpart Sergey Lavrov.

Prime Minister Narendra Modi is scheduled to visit Vladivostok to attend the Eastern Economic Forum, where he will be the chief guest, from 4-6 September. Soon after, India will be holding the second round of “2+2” ministerial dialogue with the US in Washington. India is hoping to get a CAATSA waiver from the US on defence purchases from Russia.

Why S-400 matters to India The S-400 Triumph is a surface-to-air missile defence system that is capable of intercepting ICMBs and other midrange missiles. This is said to bolster India’s air defence capabilities during air combat and can successfully detect the path of incoming missiles.

The S-400 system is highly mobile-all radars, missiles and launchers are mounted on 8x8 cross-country trucks, which makes them harder to detect and destroy. The entire system can be made ready to fire in a matter of minutes. The S-400's crown jewel is its 92N6E electronically steered phased array radar, dubbed 'Grave Stone', that can track 300 targets over 600 kilometres away and, based on the threat and range, shoot four different missile types at them.

Each S-400 system has four types of missiles from the 400-km range, 200-

km range, 100-km and 40-km range, forming a nearly impenetrable interlocking grid of missiles. It can detect and destroy targets flying as low as 100 feet to as high as 40,000 feet.

These missiles can address multiple aerial threats, from combat jets to cruise missiles and air-launched smart bombs, and are resistant to electronic jamming.

The IAF's air defence missiles can currently only engage targets 40 kilometres away. The Medium-Range Surface-to-Air Missile or MRSAM to be acquired from Israel next year will increase its engagement range to nearly 80 kilometres. The S-400 on the other hand, more than quadruples the IAF's missile reach. The IAF sees in the S-400 an answer to many of its existential woes-a dwindling fighter jet fleet and the increasing sophistication of enemy fighter aircraft. As Sandeep Unnithan argues, the IAF has only 32 fighter squadrons as opposed to a sanctioned 39.5. This is seen as inadequate for its primary tasks of securing Indian airspace from intruding enemy aircraft and conducting aerial warfare by bombing enemy targets.

This imbalance changes with the acquisition of the S-400. The missile system can undertake a bulk of the airspace defence role. From their locations in India, the S-400's radars can look deep inside Pakistani territory and pick up enemy aircraft almost as soon as they are airborne. Deployed along the eastern border with China, the missile system can monitor fighter jets taking off from airfields along the Tibetan plateau.

However, as pointed out by Unnithan, the main reason to push through with the deal was eventually made due to the lack of bureaucratic hurdles which otherwise impinges on most defence purchase deals. The deal was directly concluded between the Indian and Russian governments in just two years, considerably shorter than the Indian defence ministry's circuitous negotiations and acquisition cycle.

Interestingly, transfer of technology and defence offsets, usually insisted on by the defence ministry for large volume deals, was waived.

INDIAN HACKER FINDS UBER ACCOUNT TAKEOVER BUG, AWARDED RS 4.6 LAKH Uber has awarded Indian ethical hacker Anand Prakash with Rs 4.6 lakh for finding a bug that allowed attackers to take over any Uber user's account.

Prakash requested for public disclosure in June and the bug report was then disclosed by Uber on September 9.

Prakash, a Forbes' 30 under 30 honoree, is the Founder of cybersecurity company AppSecure.

LENSKART TO GET AT LEAST RS 392 CRORE FROM MUMBAI'S KEDAARA Faridabad-based eyewear startup Lenskart is raising at least Rs 392 crore in its ongoing Series F round from Mumbai-based private equity firm Kedaara Capital, Entrackr reported citing regulatory filings. Past reports claimed that Kedaara is in talks to buy Lenskart shares via a secondary deal at billiondollar valuation. Lenskart is also reportedly in talks with SoftBank for a $350-million funding.

BURJ KHALIFA-SIZED ASTEROID AMONG 2 TO PASS BY EARTH SOON: NASA Two medium-sized near-Earth objects (NEOs), including one asteroid nearly as long as Earth's tallest building Burj Khalifa, are set to safely fly by Earth, NASA said. The two bodies will pass by on September 14 and 15, as per Indian time. NASA added it's tracking the objects but orbit calculations ruled out any chance that they could pose a threat.

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GOOGLE'S AI BASED APP TO HELP STUDENTS

The web search major and Android maker revamps its Socratic app that helps students study with help of AI.

GADGET

A SMARTPHONE THAT TRANSFORMS INTO A TABLET Xiaomi has been granted patents of a foldable smartphone that suggest that the device could launch soon.

Google has revamped the Socratic app, which it acquired last year. The app is now powered by Google AI and offers students a number of new features and resources to help them with high school and university work.

The revamped app is now live on Apple’s App Store and will be made available on Android this fall.

The company says, with the help of the new Socratic app, students can solve math equations or physics problems with ease. It also offers students a wide variety of guides and study material. With the new Socratic

by Google app, students will now be able to take a photo of a question and find answers on the web posted from credible sources. The app also allows students to use voice commands to ask problems.

The app makes use of a built-in complex algorithm, which looks at a student’s question and automatically identifies the relevant underlying concepts. With it, students can find videos, concept explanations and online resources related to their studies. For students who want to go the extra mile, the app breaks down the concepts into smaller, easy-tounderstand lessons. these lessons are curated from top educational resources, YouTube and in-house user answers, which have been submitted over time. Socratic by Google has over 1,000 subject guides on higher education and high school topics.

These topics include Biology, Physics, Algebra, Geometry, Fiction, NonFiction, and more.

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arlier this year, a senior Xiaomi executive showcased a foldable smartphone that could transform into a largescreen tablet. Following the event, Samsung and Huawei launched their first foldable smartphones which are dubbed the Galaxy Fold and Mate X respectively. Unfortunately, due to quality issues, the launch of both these handsets have been pushed back to September.

While Xiaomi was also assumed to launch its foldable smartphone soon after the launch of Huawei and Samsung’s offering, clearly that has not happened. But the company has been granted patents of a foldable smartphone that suggest that the device could launch soon. According to the patents, the front of the Xiaomi smartphone has a flexible display that can fold from either end. Noteworthy, the bezels around the display are

While Xiaomi was also assumed to launch its foldable smartphone soon after the launch of Huawei and Samsung’s offering, clearly that has not happened.

negligible which provides the device with an overall elegant design. The rear of the Xioami smartphone seems to be made out of metal with two rubber straps that conceal the foldable hinge.

The rubber-like material is similar to what is found on the previously launched Royole Flexpai. In addition, it also houses a triple camera setup.

The images do not reveal any cutout or notch for the front-facing selfie camera on the Xiaomi smartphone. It is likely that the device will debut with an underdisplay selfie camera, which several companies (1,2) are working on.

Also, it does not have a rear-mounted or side-mounted biometric sensor, perhaps, it will have an in-display fingerprint sensor which is slowly becoming a common sighting on premium and mid-range smartphones.

In addition to functional design, the Xiaomi smartphone is expected to have high-end specifications. Therefore, it could feature the Snapdragon 855 or 855 Plus chipset. In terms of memory, it is expected to at least have 6 GB of RAM. In order to verify the claims and leaks, we will have to wait patiently until Xiaomi addresses the device publically.

Besides, the foldable smartphone from Xiaomi is expected to be more affordable than Samsung and Huawei’s offering which cost about US $ 2000.

AUTO

FIRST DRIVE OF REVOLUTIONARY PORSCHE TAYCAN ELECTRIC

THE TAYCAN EV HAS TAKEN PORSCHE INTO A NEW WORLD OF TECHNOLOGY, AND THE SPORTS CAR MAKER HAS GONE TO GREAT LENGTHS TO ENSURE THAT AT THE END OF THE DAY, IT’S STILL A PORSCHE. e're sideways. Again. After a blistering takeoff that pushed my internal organs towards my spine, the driver behind the wheel of the pre-production Porsche Taycan (pronounced "tie khan") turns off the traction control and the vehicle does something other EVs don't. It becomes a full-fledged sports car, its tires spinning on the edge -- and spilling over -- the traction event-horizon. We're drifting and the driver -- that also happens to be one of the regenerative braking engineers -- tells me about how the Taycan recuperates energy back into the battery. Meanwhile, I'm smiling because a proper electric sports car is coming to market from a company with a history defined by fast cars.

There's no lack of first drives and ride alongs of the Taycan. The automaker has been on a marketing blitz lately, making

sure nearly every publisher has access to the car in one way or another. The overall verdict is that the Taycan is the pure electrification of Porsche's DNA. The automaker has been using hybrid drives for years now in its race cars, sports cars and SUVs. Battery packs are nothing new to it. But ditching the internal combustion is something altogether different for the company, and it required a sort of rethinking of how a car is built the Porsche way.

When Porsche unveiled the Mission E concept four years ago it wanted to make sure that it was doing more than just showing off a design study. It wanted to announce to the world that it had every intention of creating a Porsche EV without compromise. A single concept car is tough to build, a production vehicle that deviates from your main source of propulsion is tricky and incredibly expensive.

The automaker is spending six billion euros to develop electric vehicles. That money includes making huge adjustments to its factory in Stuttgart, Germany. That involves, among other things, a new assembly line, body and paint shop in the already crowded facility. Unfortunately, those two new areas require a conveyor belt to move the vehicles from one area to another.

Porsche says that line is 911 meters long, because of course it is. "(It was) something like an open heart surgery. But as of today, we can say it was successful. We're currently ramping up the production," Porsche VP product line Taycan Stefan Weckbach said.

The result is a vehicle that, even from the passenger's side of the vehicle, feels like a Porsche sports car. Meanwhile, the driver is doing a donut while simultaneously explaining that the Taycan does not have "one-pedal" SEASONAL MAGAZINE

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FIRST DRIVE OF REVOLUTIONARY PORSCHE TAYCAN ELECTRIC driving. He's referring to the ability to take your foot off the accelerator and let the regenerative braking bring the car to a stop. "It's not how you want to drive a sports car. You want consistency when you take your foot off the pedal," he says. So when you stop giving it power with your foot, the car glides until you step on the brake.

As you depress the brake, it initially uses the motors to slow down the vehicle then switches to the actual physical brakes if you need additional stopping power. During this spirited ride, we need extra stopping power, and I watch the charge meter in the dash fill up to indicate we're generating up to 265 kW when slowing down from the launch-control enabled burst of speed. It's an impressive number, but not something I can test in the passenger seat as we once again whip around the corner and let the backend break free.

While going all out with tires smoking and skidding around corners in the Taycan is fun (even if you're not driving) Porsche's all-wheel-drive system is built to keep the car stuck to the road. Which is how these cars will be driven most of the time. Ahead of the squealing tires, the vehicle's torque vectoring did a fine job on a water-slick road, adjusting the power in-real-time to all four tires to increase traction. One of the benefits of electric vehicles is that they can adjust the energy and spin of the wheels in almost real-time far better than an internal combustion engine vehicle.

But what Porsche has that others don't is a two-speed transmission connected to the rear motor. Typically, EVs have a single gear. But Porsche wanted something with a lot of torque. So it added a low gear to propel the vehicle quickly and repeatedly. The top-end Turbo S version will do zero to 60 in 2.6 seconds. The Tesla Model S P100D will do that in 2.5 seconds. But the Porsche can do it over and over again (10 times in their tests) without any significant power loss.

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and over again. That's something the company needed to do, even if just for the sake of its reputation.

The Taycan pulls these feats off with two motors generating up to 670 horsepower and 626 pounds of torque on the Turbo model and 750 horsepower and 774 pounds of torque on the Turbo S. Those powerplants are supplied by a 93.4kWh battery pack. As with nearly EV out there, it sits under the passenger and lowers the center of

gravity. It's the lowest of any Porsche.

The automaker says that it can be removed if needed.

The electrical system meanwhile is 800 volts instead of the typical 400 volts.

That means the vehicle can charge faster, produce more power, and use thinner wire to reduce weight. To further efficiency the Taycan uses two permanently excited synchronous motors (PSM). Instead of winding copper wire, the copper is shaped like hairpins, inserted into the motor and the ends are laser welded together. The result is a more complex motor, but one that delivers more power in the same size package.

Keeping all that ready for a day at a track requires a quick charging and Porsche

While going all out with tires smoking and skidding around corners in the Taycan is fun (even if you're not driving) Porsche's all-wheeldrive system is built to keep the car stuck to the road.

Which is how these cars will be driven most of the time.

gave the vehicle the capability to charge from five to 80 percent in 22.5 minutes using a high-powered charging station that goes up to 270kW. Nearly everything on this car is there to create the feeling that, even if you're driving an EV, you're really driving a machine built for speed and handling.

Yet it still has some unique touches.

For example, the charging port cover retracts and goes up. That's kinda neat.

Impressively though, it'll do that even when it has a sheet of ice. The system will try to open the little door and if it notes resistance, it'll add some more torque to break through the frozen water.

The interior has the feel of a 911 but all of the displays are digital.

That includes the one for the passenger that can be used to not only control music but make changes to a route. Ferrari 812 Superfast has the same thing but the navigation controls are limited. Does the passenger need their own touchscreen?

Probably not, but is it weird/cool? Yeah, yeah it is.

All this tech is cool, but also expensive.

The Taycan Turbo will start at $153,310 at launch and the Turbo S will set you back $187,610. They are Porsches, after all, and they're a few grand cheaper than 911 Turbo and Turbo S respectively.

Vehicles should start being delivered by the end of the year with those that have put down an early deposit getting first dibs. According to Porsche, of the 20,000 people worldwide that have expressed real monetary interest in the car, 50 percent are new to the Porsche brand.

That's all well and good because a lot of work has gone into the vehicle.

According to Porsche North America CEO Klaus Zellmer the Taycan is "the most ambitious and technically advanced Porsche ever created."

The Taycan signals a new era for Porsche. Going electric is tough and arriving at that destination with its sports car DNA intact is impressive and required a lot of tech and money. But all that means that that eventually, I can ride a battery-powered Porshe sideways around a corner it's worth it.

(By Roberto Baldwin for Engadget)

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GADGET

10 LARGEST SELLING SMARTPHONES OF THE WORLD THIS YEAR A new report by IHS Markit has released the list of top 10 best-selling smartphones across the world. The research firm has compiled the list based on the number of units shipped in the first half of 2019. Here are the phones that have sold the most across the world:

APPLE IPHONE XR Apple’s strategy of having an ‘affordable’ iPhone and then lowering its prices (through deals and offers) in some parts of the world seems to have paid off. As per IHS Markit, Apple sold 26.4 million units in the first half of 2019.

SAMSUNG GALAXY A10 Samsung’s entry-level smartphone, the Galaxy A10 is the second bestselling smartphone, as per IHS Market. Samsung shipped 13.4 million units of the Galaxy A10.

XIAOMI REDMI NOTE 7

The second Xiaomi phone on the list is Redmi Note 7.

Xiaomi shipped 10 million units of this smartphone.

SAMSUNG GALAXY J2 CORE

Samsung’s third phone on the list is another budget device, the Galaxy J2 Core. 9.9 million units of the smartphone have been shipped.

OPPO A5 SAMSUNG GALAXY A50 On third spot is another phone from Samsung: the Galaxy A50. Samsung shipped 12 million units of the Galaxy A50 so far in 2019.

The A5 from the emerging Chinese player Oppo bagged the next spot, due to offering better features at slightly lower prices than usual by the company.

APPLE IPHONE 8 iPhone 8 was launched in 2017 and continues to be amongst the best-selling smartphones in the world. As per the report, Apple shipped 10.3 million units.

XIAOMI REDMI 6A Xiaomi’s entry-level smartphone, Redmi 6A is the fifth best-selling smartphone with 10 million units shipped in the first two quarters of 2019.

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APPLE IPHONE XS MAX

Apple shipped 9.6 million units of its most expensive iPhone in the market.

SAMSUNG GALAXY A30

The 10th best-selling smartphone in the world is Samsung Galaxy A30. The South Korean company shipped 9.2 million units of the smartphone.

SASTRA BECOMES A HUB UNDER MARGADARSHAN SCHEME THE ALL INDIA COUNCIL FOR TECHNICAL EDUCATION (AICTE) HAS INCLUDED SASTRA, A DEEMED TO BE A UNIVERSITY, AS THE HUB UNDER MHRD’S MARGADARSHAN SCHEME.

PEACE IN J&K, NOT A SINGLE SHOT FIRED SINCE AUGUST 5: AMIT SHAH

Addressing an event in New Delhi, Union Home Minister Amit Shah on Monday stated, "From August 5 till now, we did not have to fire a single shot and not even a single person has died. There is peace in Kashmir." He made the statement over a month after Article 370, which gave special status to J&K, was abrogated.

I DOUBT US WILL DO A WEALTH TAX; WOULDN'T OPPOSE IT: BILL GATES

he certificate of approval from the AICTE was handed over by its Adviser Dileep N. Malkhede to SASTRA ViceChancellor S.Vaidhyasubramaniam at a recent function.

The objective of the Margadarshan Scheme, Prof. Malkhede said, was to recognise an institute of reputation as a ‘mentor’ or as a hub to guide and disperse knowledge to and between 10 technical institutions, identified as ‘spokes’, in the region so as to encourage sharing of best practices among them.

Taking cognisance of the infrastructural facilities and the academic achievements of SASTRA, Prof. Malkhede said the hub and the spokes system would allow for inter-hamlet information sharing, such as technical education, research and sharing of resources to the entire system. The duration of this project was three years.

The mentor institute was expected to conduct programmes for the technical uplift of the spokes institutes in terms of teaching and learning process.

He also handed over the hard copies of

the memorandum of understandings signed between the hub – the SASTRA and the spokes – the technical institutions in this region, to the heads of the selected 10 institutions.

World's second-richest person, Microsoft Co-founder Bill Gates in a recent interview said he doubts the US will do a wealth tax, but he wouldn't oppose it. The 63-year-old also backed higher income taxes on America's wealthiest people alongside a call for greater financial transparency. "I don't like that you can have trusts where nobody knows who owns it," he said.

The AICTE Adviser also distributed scholarships worth totalling ? 116 lakh to 848 students on the occasion.

Meanwhile, the Dean of Corporate Relations at SASTRA, Dr. V. Badrinath informed that 70% of students of the 2020 batch have received offer letters for placement from leading companies.

The engineering graduates have been selected for placements in Amazon, PayPal, Microsoft, Deloitte, Rockwell Collins, TIGER Analytics, IDEABOARD, ABCO, Informatica, TCS, IBM, Zoho, Freshworks, Infosys, Cognizant, WIPRO, Caterpillar, Dr.Reddy’s and other companies during the campus selection exercises conducted by these companies from July 8, 2019 onwards.

ISRAEL HEADS TO POLL FOR THE SECOND TIME IN 6 MONTHS

Israelis headed to vote in the country's general election on Tuesday for the second time in six months. The election was called after Prime Minister Benjamin Netanyahu failed to form a coalition following an election in April. It is the first time Israel has ever had two general elections in a single year.

Over 350 students from Thanjavur and Tiruchi and over 500 students from the rest of Tamil Nadu secured placements out of the 2,450 offers made by the companies, he added.

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SPORTS

By Carl J

HOW BADMINTON’S HEROES SERVE UP REALISTIC LIFE LESSONS

As far as success stories in sport go, individual achievement is the ultimate pinnacle. From atop this position, the individual seems indomitable and inspiring. The 10,000 hours of hard work, first propagated in Malcolm Gladwell’s Outliers: The Story of Success as the principal marker for success, is only the bare minimum that these individual sportspersons endure. There is something that drives their very purpose in life, which reflects in their sporting glory: the hunger to improve and ‘compete’ with oneself. We are often told that competition breeds success. Well, that’s what even the free-market economists would live by. However, to attain the prime position in any sport, the most important lesson is that “you are your own competition”. It is unimaginable that anybody – let alone sportspersons - would strictly follow this in practice. But that’s where these sportspersons stand out from the rest; they push their gameplay to be better than yesterday.

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inning the gold medal in the BWF World Championships is just the culmination of P V Sindhu’s sporting glory.

Like most champions, the journey to everlasting success doesn’t stop at a gold medal or scoring a breathtaking century in the Ashes in an almost impossible run chase. It is the constant reminder to improve oneself with every day that these champions cherish more that anything. With most successful athletes, the real taste of victory is knowing that the right process was followed to achieve the goal than the goal itself. Not many people would have had P V Sindhu in their consciousness when the Indian cricket team was busy making their mark in the ICC World Cup. For that matter, most sports enthusiasts (myself included) would not have watched Sindhu’s travails in the badminton circuit right up to her crowning glory in the Championship.

It is simply not just a question of one’s choice to follow an athlete that one adores; the painstaking hours of practice and accumulated failures along the way don’t resonate with a society hell bent on instantaneous results. The loss of patience and lack of genuine value for the ‘process’ could be attributed to the waning interest among fans to follow their favorite athlete’s say training regime or practice matches. Most team sports now upload the training sessions and gym workouts of their stars on social media; there is a readymade consumption for such content. Sindhu’s victory, more than anything, stresses that the celebration of accomplishment is actually the celebration of the means to that accomplishment.

If you ask the likes of Manasi Joshi, who won the gold medal in the women’s singles in the Para Olympics, the magnitude of her achievement triumphs every other personal glory associated with it. The same is obviously the case with Sindhu too, but it needs reminding that Manasi won a day earlier and received nationwide praise only a few days after. While we are often extolled to treat athletes with disabilities in the same breath as the ones without it, the

Rajiv Ouseph real tribute to the ‘special talent’ would be to celebrate their achievement as a social triumph. In a society that relegates people with disabilities as a ‘burden’, Manasi’s achievement is a larger message to our small-minded stereotypes of who is allowed to succeed. In that light, Manasi has not only encouraged many like her who feel bogged down by the weight of societal pressure and ignominy but reminded us that there is always something more to than just winning.

She, and numerous other athletes before her, has inadvertently engineered a social debate on the ‘eligibility’ of success. The ramifications of that goes beyond the personal glory of winning a coveted medal.

Most team sports now upload the training sessions and gym workouts of their stars on social media; there is a readymade consumption for such content.

Then there are those heroes that partake in an athlete’s ‘process’ selflessly and encourage her to aim for the sky. As an experienced coach, P Gopichand need not spell out motivational words to his wards; he epitomizes motivation himself. Recipient of numerous national awards and international recognition himself, he would probably feel most elated when his students learn from their mistakes rather than bask in their own glory. And that’s what defines a master coach like Gopichand. He keeps Sindhu grounded all the while as she embarks on one objective after another.

He ensures that she doesn’t feel the need to look for inspiration around her and channel her energies to look for inspiration within herself. He is proud of her success but equally guards her against unwanted profligacy. While it takes one champion to know another, Gopichand’s coaching approach is actually not rocket science. He combines his calm influence with an indepth domain knowledge to craft a potion that can produce a winning formula. He’s more like a meditator than a teacher, helping to prepare them for a test rather than speculate on what are the likely questions to be asked. For him, each athlete works with a unique SEASONAL MAGAZINE

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logic and his only intervention is to assure him or her that his or her logic is right. If only the bulk of India’s school teachers felt the same way!

In a faraway continent, but by no means cut off from the story of India’s badminton roots, Hounslow-born Kerala-origin ace shuttler Theratil Rajiv Ouseph sought an altogether different challenge. Emigrating with his family to Middlesex from Kerala at such a young age, Ouseph rapidly made strides in the badminton circuit through his sheer perseverance. He was a dominant junior player, winning every singles title from the under-13 level to the under-19 level. The English lad is the proud holder of various titles, including his career-best Men’s European title in 2017 that made him the first Englishman in 27 years to win it. Ouseph also went on to win five Commonwealth golds and even reached the 2016 Olympics quarterfinals. From having a supportive family to the right physical attributes for the sport, Ouseph was destined for a stellar career. He was certainly luckier than most kids of his age, even among immigrant families, with a father who inspired him and his sisters to enjoy what they did. Although he ended his glittering international career with a defeat in Basel at the World Badminton Championships, Ouseph’s inspiring

Manasi Girishchandra Joshi

journey needs to be assessed beyond numbers.

The legacy he leaves behind is one of consistency; staying at the top of the country’s ranking charts in a sport that requires mental toughness like no other. He has quietly gone about his passion and remains steadfastly true to his beliefs. His teammates attest to his kindness and good-natured self. For the love of British badminton, Ouseph decided to make way for the younger generation so that they are ready in time for the 2020 Olympics in Tokyo. As he retires with his head held high, the 32year old former European badminton Pullela Gopichand

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Then there are those heroes that partake in an athlete’s ‘process’ selflessly and encourage her to aim for the sky. As an experienced coach, P Gopichand need not spell out motivational words to his wards; he epitomizes motivation himself.

champion wishes that more British Asians take to the sport. His ingenious idea from his own personal experience to solve this problem sounds rather radical: "Rather than just going to each other's houses to socialise, families should use sport as a get-together. We created a friendly family rivalry in the Ouseph household." However, there is a certain simplicity about the idea.

Ouseph reckons that “youngsters just need to grab a group of friends and go and enjoy a game." While he agrees that “there has to be a balance between academia and playing sport, the focus on education limits the number of Asian people doing exercise.” Ouseph’s supportive upbringing and life on the badminton court is a reassurance to families with kids aiming for the sky – just letting them express themselves and a strong forehand should do the trick.

HEALTH

Why Drink Tea and Eat Fruits & Vegetables Consumption of such flavonoid-rich foods can protect people who are at high risk of chronic and often fatal diseases like cancer and heart ailments. onsuming flavonoid-rich items such as apples and tea protects against cancer and heart disease, particularly for smokers and heavy drinkers, suggests a recent research.

Researchers from Edith Cowan Universit's School of Medical and Health Sciences analysed data from the Danish Diet, Cancer and Health cohort that assessed the diets of 53,048 Danes over 23 years.

According to the study published in the journal - Nature Communications researchers found that people, who habitually consumed moderate to high amounts of foods rich in flavonoids, compounds found in plant-based foods and drinks, were less likely to die from cancer or heart disease.

Lead researcher Dr Nicola Bondonno said while the study found a lower risk of death in those who ate flavonoidrich foods, the protective effect appeared to be strongest for those at high risk of chronic diseases due to cigarette smoking and those who drank more than two standard alcoholic drinks a day. "These findings are important as they highlight the potential to prevent cancer and heart disease by encouraging the consumption of flavonoid-rich foods, particularly in people at high risk of these chronic diseases. But it's also important to note that flavonoid consumption does not counteract all of the increased risks of death caused by smoking and high alcohol consumption. By far the best thing to

"ALCOHOL CONSUMPTION AND SMOKING BOTH INCREASE INFLAMMATION AND DAMAGE BLOOD VESSELS, WHICH CAN INCREASE THE RISK OF A RANGE OF DISEASES.

AZHAR, SAEED, DAWOOD DECLARED INDIVIDUAL TERRORISTS UNDER NEW LAW

Jaish-e-Mohammed chief Masood Azhar, Lashkar-e-Taiba chief Hafiz Saeed, Zakiur Rehman Lakhvi and underworld don Dawood Ibrahim have been declared 'individual terrorists' by the government. This comes nearly a month after Parliament amended the Unlawful Activities (Prevention) Act, 1967. The newly amended act provides for putting a travel ban on individuals declared as terrorists.

do for your health is to quit smoking and cut down on alcohol," she said.

"We know these kinds of lifestyle changes can be very challenging. So encouraging flavonoid consumption might be a novel way to alleviate the increased risk, while also encouraging people to quit smoking and reduce their alcohol intake," she added.

It is important to consume a variety of different flavonoid compounds found in different plant-based food and drink.

This is easily achievable through the diet: one cup of tea, one apple, one orange, 100g of blueberries, and 100g of broccoli would provide a wide range of flavonoid compounds and over 500mg of total flavonoids. Dr Bondonno said while the research had established an association between flavonoid consumption and lower risk of death, the exact nature of the protective effect was unclear but likely to be multifaceted. "Alcohol consumption and smoking both increase inflammation and damage blood vessels, which can increase the risk of a range of diseases. Flavonoids have been shown to be antiinflammatory and improve blood vessel function, which may explain why they are associated with a lower risk of death from heart disease and cancer," she said.

Dr Bondonno said the next step for the research was to look more closely at which types of heart disease and cancers were most protected by flavonoids.

HONG KONG LEADER WITHDRAWS CHINA EXTRADITION BILL THAT SPARKED PROTESTS

Hong Kong leader Carrie Lam on Wednesday announced the withdrawal of an extradition bill that triggered months of anti-government protests. The bill proposed to let criminal suspects to be extradited to mainland China. Lam had suspended the bill in June and had later said that it was "dead" but had refused to withdraw it entirely.

FACEBOOK CEO MUST FACE PRISON FOR PRIVACY ISSUES: US SENATOR US Democratic Senator Ron Wyden has said that Facebook Co-founder and CEO Mark Zuckerberg must face prison time over various privacy issues faced by the social media giant. "Mark Zuckerberg has repeatedly lied to the American people about privacy...he hurt a lot of people," Wyden said. "I think he ought to be held personally accountable," he also added.

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STARTUPS

Indian Startups and Chinese Venture Capital: The Strategic Dimension Chinese venture capitalist (VC) funds have been rapidly making their way across the Himalayas and betting on the Indian startup story.In 2018 alone, Indian startups raised around $5.6 bn from various Chinese investors, following from the $3 bn in 2017. In the previous 16 years till 2016, the combined investments from China were valued at around $1.35 bn only. Such has been the unprecedented level of investments that Chinese VC funds surpassed those coming in from both the US and Japan in 2018. From what seemed unthinkable almost a decade ago, Chinese money today has offered a fresh lease of life to the perennially cashcrunched Indian startups. It all began with Alibaba’s investments of $500 mn in Snapdeal, $700 mn in Paytm and $150 mn in Zomato in 2015 following which the likes of FosunTencent (invested $150 million in Hike; $400 million in Ola; $700 million in Flipkart) and Shunwei Capital ($2 mn in Trubil; $18.2 mn inShareChat; $13.4 mn in ZestMoney)entered the fray. owever, this trend begs the question of the strategic impact of Chinese influence in India’s startup ecosystem. How does it play out in the larger technology war involving the U.S and China? Does the regulatory environment allow for unabated financial backing from overseas investors? Can investors tide over the policy challenges and national security concerns raised by governments?

Basis of the Symbiotic Relationship The India-China startup symbiosis is based on a solid foundation: India’s future growth numbers are set to attract investments and the infusion of capital will help early-stage startups to grow faster and reduce attrition rate amongst them. India has the third highest number of startup incubators and accelerators in the world, after China and the US. Given China’s excess finance and technology expertise,India is the only country that has the market and the strength to absorb China’s excess capacity. China’s strong showing in the financial technologysector has demonstrated the massive potential in a market like India where smartphone users increased to SEASONAL MAGAZINE

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481 million according to 2017 figures, which is an increase of over 11% over the previous year.

Buoyed by the Walmart-Flipkart deal, Chinese VCs are excited about the prospect of the exit option as they can now look for innovative startups in India and implement the business model in China. As those who have been tracking Chinese investments in India would attest, this strategy has served Chinese VCs well: identifying startup ideas in other geographies that can be replicated in China and backing them with large capital infusion. This complements the already famous ‘China plus one’ model, which aims to shift operations outside China to benefit from cheaper labour, new markets, and less domestic vulnerability.

Given that the ‘BAT trinity’ (Baidu, Alibaba and Tencent) currently dominates the Chinese startup space, the entry of other Chinese VC funds,

including the likes of Morningside Ventures, Fenqile, Hillhouse Capital Group, Plum Ventures etc, would gear them for the long haul as they show increasing interest in India’s digital potential and hyper-local startup ecosystem for investment opportunities.

For the Indian startups, the Chinese VCs are not merely cash cows but offer crucial domain expertise. Indian startups are engaged in fields where Chinese firms boast expertise: internetbased business, artificial intelligence, big data, robotics and automation, fintech, health, environment, elearning, agricultural technology, consumer goods and entertainment, including non-addictive gaming.The Alibaba Group Fellowship Programme witnessed 4 Indian startups (Zefo, Healthy Buddha, NowFloats and Grozip) that were selected among the 38 Asian firms who are eligible for

The impact of Chinese software and hardware play on the technology front cannot be underestimated. There is likely to be an institutional relationship that would take shape with Chinese technology integrated into Indian service industries. border data transfer.

Apart from data privacy issues, Chinese investors and companies face pressure from India’s startup lobby group Indiatech, which seeks to ‘protect the interests of Indian companies and investors in the Internet sector’. From a call for ‘Permanent Establishment’ for foreign firms to push for dual class voting rights structure (DVR) in order to prevent hostile takeovers, the lobby has unequivocally backed the interests of early-stage startups and enhanced promoter rights. However, the recent budget announcement, removing the angel tax provision on overseas profit, has been welcomed in both the startup and investor communities.

STRATEGIC DIMENSION OF THE RELATIONSHIP

funding and knowledge sharing.

POLICY CHALLENGES AND NATIONAL SECURITY CONCERNS Shashi Tharoor, an Indian parliamentarian, raised suspicions over TikTok’s illegal data transfer to China and aired his concerns on the absence of a strong data protection framework and termed it as a matter of ‘national security’. The Indian government immediately sought a detailed response from ByteDance, the parent company of TikTok, about the use of its application for ‘circulation of unlawful content’. Some researchers had voiced a similar concern after Internet web browser UC Browser was suspected of leaking data to servers in China. Given these episodes, it is imperative that the Indian government devises a coherent set of regulations around data protection, localization and cross-

The impact of Chinese software and hardware play on the technology front cannot be underestimated. There is likely to be an institutional relationship that would take shape with Chinese technology integrated into Indian service industries. How will this impact the use of American software, which have over the years formed the basis of the bilateral relationship? Moreover, in the three services segments where India scores over China – telecommunications, computer and information services, other business services and financial services – its RCA dropped between 2012 and 2016, while that of China’s rose. With India’s comparative advantage taking a hit, China’s services exports totalled $209 billion in 2016, against India’s $162 billion, thanks primarily to its dominant position in segments like transportation, travel, manufacturing services (where physical inputs are supplied by others), maintenance, repair and construction services. So while India is the world’s eighth-largest services exporter, China occupies the

fifth position.

Also, China will be one of the first countries to register high growth on the back of both manufacturing and services-led export growth. This presents numerous opportunities for Indian startups in the services segment to leverage the capacity of Chinese companies operating in this field.

Moreover, only consulting-as-a-service has been an attractive tertiary industry offering on the part of the US, which has otherwise failed to showcase its clout in other service verticals. The positioning of China as a future hub of services export bodes well for those Indian startups with the strength of Chinese capital.

Lastly, the ability of Chinese VCs to attract sustained interest among Indian startups rests on how they manage to stay within cyber law frameworks.

Currently, Chinese VC investments in Africa are bogged down by lack of comprehensive cyber-security laws.

Given that the BRI project has a significant digital component, it is imperative that countries that leverage Chinese capital and digital infrastructure have national-level cyber security laws. Given China’s market leadership in the fintech space, Indian startups have an opportunity to capitalize on this development.

Although 5G standards are yet to be formalized, China is certainly leading the way. Despite the healthy symbiosis between Chinese capital and Indian startups, one of the complementary challenges of this relationship would be a mindset shift from the popular Silicon Valleyculture, whichunderpins the working of most Indian startups.

This entails flat organizational structures, flexible and informal processes, the ethos of “act first, apologize later,” the relentless pursuit of growth, and the “work hard, play hard” climate. Besides betting on valuation and revenue, Indian startups should begin to espouse standards of work ethics and genuine collaborative efforts to drive their growth. How quickly this cultural shift is accounted for would largely impact the success of the Sino-Indian startup ecosystem.

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HEALTH

WHY INCLUDE NUTS & SEEDS IN YOUR DIET Tiny but mighty, nuts and seeds deliver a protein, fiber, and nutrient punch with every bite. Here is how to bone up on some of the most nutritious choices, and start crunching your way to better health.

salted nuts are fine, if you eat less than an ounce," she says. "For 1 ounce of most nuts, the sodium content is less than 100 milligrams." Some of the best nuts to include in diet are Almonds, Brazil nuts, cashews, hazelnuts, peanuts, pecans, pistachios, pine nuts, and walnuts.

Seed Capital for Health Unlike the seeds we call nuts, culinary seeds come from vegetables (such as pumpkins), flowers (such as sunflowers), or crops grown for a variety of uses (such as flax or hemp).

Nuts in a Nutshell Nuts are actually the seeds of plants.

Most are the seeds of trees; peanuts, however, are the seeds of a legume.

Many, including walnuts and cashews, grow inside leathery fruits, with the nut corresponding to the peach pit (also a seed) within a peach. Others, such as hazelnuts and chestnuts, are classified as true botanical nuts (hard, dry fruits that don't open to release a separate seed).

Nuts are flavorful little packages containing healthy unsaturated fats, protein, fiber, and other nutrients. For example, peanuts and pecans contain lots of B vitamins; almonds are rich in calcium and vitamin E; walnuts have lots of folate, vitamin E, and alpha-linoleic acid (ALA, an omega-3 fatty acid). And all nuts have magnesium.

"In just a handful of nuts, which is about an ounce or a quarter of a cup, you get a lot of bang for the buck. They contain anywhere from 3 to 7 grams of protein per ounce, 1 to 3 grams of fiber, and 160 to 200 calories," says registered dietitian Kathy McManus, director of the Department of Nutrition at Harvardaffiliated Brigham and Women's Hospital. But there are risks too. "If you eat more than one or two handfuls of nuts per day, you're adding extra calories — maybe too many — that can take the place of other healthy foods and add weight," McManus warns. She also advises that you stay away from buying nuts with added sugar or chocolate. "But SEASONAL MAGAZINE

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"Seeds have mostly healthy fats, some fiber, and about 150 calories per ounce. And they do have protein, about 5 to 9 grams per ounce," McManus notes. "Flaxseeds and chia seeds are also good sources of plantbased omega-3 fatty acids, with two or three times the ALA of walnuts." Just a tablespoon of seeds yields surprising nutrition. In chia seeds, for example, you'll get 2 grams of protein, 4 grams of fiber, and 78 milligrams of calcium. A tablespoon of flaxseed has 2 grams of protein and 3 grams of fiber. Hemp seeds contain only 1 gram of fiber in a tablespoon, but 10 grams of protein.

Doctors once believed that eating seeds could lead to diverticulitis, an infection of diverticula (pouchlike structures that sometimes form in the muscular wall of the colon and bulge outward). However, the link between diverticulitis and seed consumption is still unproven. In fact, seeds are rich in fiber, which is crucial for gut health. Some of the best nuts to include in diet are Chia seeds, flaxseeds, hemp seeds, pumpkin seeds, sesame seeds, and sunflower seeds.

INDIAN VIEWERS SPEND 70 MINS A DAY ON VIDEO PLATFORMS: EROS NOW-KPMG An Eros Now-KPMG report revealed that an over-the-top (OTT) viewer in India spends approximately 70 minutes a day on video streaming platforms. The same is being done at a consumption frequency of 12.5 times a week. Viewers are accessing over 2.5 platforms at a given time, with movies as preferred choice on smart TV and larger screens, the report said.

IRAN BEGINS USING NEW ADVANCED CENTRIFUGES TO ENRICH URANIUM Iran nuclear agency spokesman Behrouz Kamalvandi has said the country has begun using new advanced centrifuges to enrich uranium - the latest step in reducing its commitments under the 2015 nuclear deal with world powers.

Kamalvandi added that 40 such centrifuges are now operational.

"All these steps are reversible if the other side fulfils its promises," Kamalvandi further said.

How to use Nuts & Seeds Adding nuts and seeds to your diet is simple: stay within the serving guidelines of an ounce or two per day, and eat the ones you like. Sprinkle a few into salads, sauces, vegetables, or whole grains such as brown rice or quinoa. "Make a cashew or pine nut pesto," suggests McManus. "Add nuts or seeds to hot cereal or yogurt. Put nuts and seeds in a stir-fry. Or include some nut flour in baking recipes." No matter how you enjoy them, you'll wind up with extra flavor and texture in meals and the added benefits of better nutrition.

(Credit: Harvard)

MAN TELLS UK PM 'PLEASE LEAVE MY TOWN'; VIDEO GOES VIRAL During a recent visit to the town of Morley in England, a man told UK PM Boris Johnson, "Please leave my town." A video of the interaction between the man and Johnson went viral on social media, wherein Johnson could be heard telling the man in response, "I will very soon."

Several people confronted Johnson over his efforts on Brexit.

LEADERSHIP

THE LEGACY OF JRD TATA As we recall the legacy of this great man, perhaps the best tribute we can pay him is to pursue a similarly high standard of excellence in whatever we do Harish Bhat, Brand Custodian of Tata Sons, and author of “Tata Log”, remembers JRD Tata.

In addition, JRD also brought to bear the intellect of the finest technocrats – Sir Ardeshir Dalal, AD Shroff and Dr John Mathai, who went on to become Finance Minister of India.

he pursuit of excellence drives positive and transformative change, because it sets our sights very high, well beyond what we are achieving today, and expands the boundaries of what is possible.

JRD Tata, whose birth anniversary we celebrate this month, lived and practised this principle. As Chairman of the Tata Group for over five decades, he pushed for excellence in all quarters. This enabled him to make remarkable contributions to Indian industry.

JRD’s philosophy of excellence is summed up in a letter that he wrote in 1965 to an educationist in Kolkata, where he laid out the guiding principles of his life.

One of these principles was - “That one must forever strive for excellence, or even perfection, in any task however small, and never be satisfied with the second best.”

How small could such a task be, where excellence must be sought at all times?

Some stories from the early days of Air India, which JRD Tata had originally founded as Tata Air Lines, provide us a glimpse. He was then the Chairman of this magnificent enterprise, India’s first international airline.

Whenever he flew Air India, he would observe everything around him, and write back to the Management with his comments. Once, after traveling on an Air India flight to Europe, he wrote a memo to the General Manager of the airline: “The tea served on board from Geneva, is, without exaggeration, indistinguishable in colour from coffee. I do not know if the black colour of the tea is due to the quality used, or due to excessive brewing. I suggest that the Station Manager at Geneva be asked to look into the matter.”

He goes on to say: “I found that some of the seats recline much more than the others…. I suggest that all our seats be adjusted for a

into preparing the Bombay Plan, some of India’s best known and most gifted industrialists joined JRD. This stellar team included GD Birla, Kasturbhai Lalbhai, Sir Purshottamdas Thakurdas and Sir Shri Ram, apart from JRD Tata himself.

maximum reclining angle, except, of course, the rearmost seats which are limited by bulkheads.”

He then goes on to deal with the matter of shabby armrests which need replacement. He was Chairman of the Company, but no subject was too small to be ignored, in his quest for perfection.

JRD’s larger purpose in pointing out these small details was to inculcate a mindset of excellence across the organisation, in its quest to achieve global standards.

No wonder Air India was, in those days, preferred by international travellers for its superior customer experience. If Indian Institutions have to achieve world-class standards, this pursuit of excellence in every detail, big or small, continues to remain an imperative. The culture of “Chalta Hai”, which permeates many sectors of our country, has to change.

JRD Tata also realised that driving big, fundamental change at a broad social or national level requires breakthrough ideas from all quarters. Here, excellence is often determined by the sheer quality of ideas, and broad-based support for such new concepts. In such areas, he therefore developed a very inclusive approach. One example of this is the Bombay Plan, published in 1944.

This was perhaps the first comprehensive plan created for the development of India.

It envisaged a fifteen-year plan, with a road-map for investments in key areas such as power, roads, railways and mining.

To develop the powerful ideas which went

This resulted in a remarkable document which The Economist magazine termed “a commendable piece of enterprise”. It created a stir in those days, and impacted economic thinking in the years leading up to Independence. In many ways, the roadmap contained in the Bombay Plan anticipated that of the five-year economic plans of independent India. This happened because the best minds were brought together, to ensure excellence in a seminal piece of work.

JRD Tata also firmly believed that the pursuit of excellence requires the best leadership, with very high levels of ownership and commitment. Only such leadership can drive transformative change on a sustained basis. Therefore, much of his energy was invested in nurturing extraordinary corporate leaders, such as Sumant Moolgaonkar, Darbari Seth and Russi Mody – each of them became legends in their own right.

To institutionalise the process of leadership development, he conceived of the Tata Administrative Service, the central management cadre of the Tata Group, which has produced stalwarts such as Dr. Freddie Mehta, Xerxes Desai and R K Krishna Kumar. Sixty years later, the TAS remains a preferred choice of management graduates across the best business schools in the country.

This year, the Tata Group marks the 25th year of its highest in-house award, created to pay tribute to JRD Tata’s quest for excellence. It is called the JRD-QV award, and only those Companies which reach a very high threshold of business excellence can aspire to win this honour.

As we recall the legacy of this great man, perhaps the best tribute we can pay him is to pursue a similarly high standard of excellence in whatever we do, whether big or small, in our own lives.

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V Vaidyanathan MD & CEO. SEASONAL MAGAZINE

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IN-FOCUS

By John Antony, Jaison D

IDFC FIRST BANK

THE BANKERENTREPRENEUR IS PLOTTING A RAPID TURNAROUND V Vaidyanathan has done it before at Capital First – transform a sluggish wholesale lender into a high-growth retail lender, and the market believes he can do it again at IDFC First Bank. He is perhaps the only banker who turned into an entrepreneur by betting everything he had including his house and his stake in Capital First through a (personal) leveraged buyout, then successfully turned it around, and took over the company through India’s first ever management buyout in the financial sector, and later turning into a banker-entrepreneur through the merger of Capital First with IDFC Bank to form IDFC First Bank which he leads as MD & CEO.

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nvestors and analysts who were taken aback by the huge losses at IDFC First Bank should realize one thing – if this merger hadn’t happened, both IDFC Bank and Capital First would have been in far worse shapes, as both their sectors had taken direct hits in the IL&FS crisis and its aftermath. But at the least, while Capital First was highly profitable, IDFC Bank with core losses and high NPA would have had a more serious problem without the merger. It was the perfect merger at the perfect timing, and the impressive way in which the combined entity’s retail franchise is expanding, is promising a rapid turnaround in the fortunes. The bank is moving rapidly to grab opportunities like it did with Fastag 2.0, and it has unleashed its new brand proposition, #AlwaysYouFirst which was highly visible on social media due to its powerful influencers including Soha Ali Khan, Harsh Bhogle and others.

The bank serves 7.2 million customers through 203 bank branches, 129 ATMs and 454 rural business correspondent centres, and is now a renowned institution for their core CSR activity that enables students from poor backgrounds to pursue their dream MBAs. When IDFC Bank and Capital First merged, no one knowledgeable in the financial sector expected a quick

miracle. But a couple of quarters down the line, the challenges have become deeper as is seen from the Q4 FY 19 and Q1 FY20 numbers, as the bank has posted losses for four quarters in a row now.

But the silver lining is that the bank is outperforming on certain core fronts like retail loans and CASA that will help the bank to turnaround sooner than the headline numbers suggest. Most importantly, the bank seems to have found a clear direction on which way it will go forward.

A lesser known fact about the entrepreneurial side of CEO V Vaidyanathan is that he pledged his home and the acquired stock with lenders with the idea that he could turn around the company and get out at a profit. As per information filed at exchanges, in March 2017, he sold 1.5% of Capital First at Rs. 688 a share to close the loan he had availed to acquire the stock in the first place. It is called a Leveraged Buyout in western circles.

The newly minted bank is also moving quickly on emerging opportunities, especially digital ones. Recently, when government re-launched Fastag, the automated smart toll card as Fastag 2.0 with support for cashless fuel purchase across the petrol pumps in highways, IDFC First Bank became the first bank to partner with this initiative.

RBI has approved the bank’s move to issue such cards, which are expected to be a great convenience and time-saver for truck drivers. The approval is for ‘onus’ transactions only, which means transactions done on RFID cards issued and acquired by IDFC FIRST Bank.

The move symbolizes the speed with which IDFC First Bank’s V Vaidyanathan has been leading the bank since its merger. And insiders say there is clarity on approach in the bank.

IDFC First Bank has rightly judged the significance of the expanded Fastag as a recent development is likely to jumpstart this highway smartcard’s widespread adoption from now on.

From December 1, in all national highway toll plazas, all lanes except one must accept electronic payments which are currently dominated by Fastag.

While Fastag in itself is not a major business for a bank, every month or quarter throws up such opportunities, which banks should rapidly embrace as banks are expected to be a one-stop shop for all financial services, especially digital services, in this new age.

In another recent move signifying how much the bank understands the emerging banking services scenario, IDFC First Bank roped in Madhivanan Balakrishnan, the Chief Technology

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Dr. Rajiv Lall, Chairman

IDFC Bank and Capital First had brought in different strengths and weaknesses to the table when they merged. While IDFC Bank had the strength of a banking licence which is a premium in India, Capital First as an NBFC had a retail loans franchise, consistent growth, low NPA and profitability.

Officer (CTO) of ICICI Bank to be their Chief Operations Officer (COO). This move reveals the pragmatic mind of MD & CEO V Vaidyanathan, as banking operations are turning more and more technology based.

Even more importantly, it reveals his ability to attract talent and build leadership teams given his past successful track record. Vaidyanathan himself has had a long and highly successful stint with ICICI Bank, and is credited with growing this pioneering private sector bank’s retail banking from scratch to a dominant position among peers, embracing all emerging technologies during those years, that resulted in ICICI Bank claiming most firsts in the industry, especially in tech-led retail banking.

The new COO, Balakrishnan has been credited with most technology based initiatives during the past many years at ICICI Bank, and he brings in additional expertise to the table at IDFC First Bank.

This is because, almost on a weekly basis, all banks are approached by financial service start-ups with newer and newer ideas that can take growth to the next orbit. Every bank needs a go-to person to assess the viability of associating with such start-ups, which is a role the new COO is quite well versed in.

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has shown his entrepreneurial side and his strong ability to attract quality talent.

In fact, IDFC First Bank’s MD & CEO is perhaps the only top honcho at an Indian bank now who has proved his mettle as a top executive as well as an innovative entrepreneur, and is the only banker turned entrepreneur turned banker-entrepreneur.

Following his successful career at ICICI Bank where he rose to a Board position at just 38 years of age, Vaidyanathan had tried his hand at entrepreneurship, by skilfully executing a ‘Management Buy Out’ of Future Capital with PE backing, after showing his vision that he could build a large retail NBFC on the platform.

It was the first management takeover in the Indian financial sector. Few would expect an executive member of a Board of an established group to leave to take a stake in an NBFC, that too by personal leverage.

A lesser known fact was that he pledged his home and the acquired equity stock with lenders, with the idea that he could turn around the company and get out at a profit.

As per information filed at stock exchanges, in March 2017, he sold 1.5% of Capital First at Rs. 688 a share to close the loan he had availed to acquire the stock in the first place. It is called a Leveraged Buyout in western circles.

He thus bailed out when the stock rose 7X after he completed the turnaround of the company to a large retail lender.

There are few parallels for such stories.

But unlike other NBFCs who were happy being an NBFC for regulatory ease, he explored all the options for a

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banking license and always made his plans to apply for a banking licence very clear.

In fact at a CRISIL conference in 2014 he was quoted as saying “We need access to a banking licence; we will try for it. I have always wanted one, will keep trying for one.”

Interestingly, why most discerning investors are betting on Vaidyanathan to turn around IDFC First Bank is because, the role cut out for him here is quite similar to the role he had successfully completed at Capital First, which was transforming a financial institution from being a corporate or wholesale lender to being a much more lucrative and competitive retail lender, with the distinct advantages of better growth and better asset quality.

His stated strategy in his annual report to shareholders in 2019 is extremely simple: “Place the Capital First lending machine on an IDFC ‘bank’ platform.”

It is as good as saying Capital First on a banking platform, and a repeat of the excellent work done at Capital First.

Analysts say it is the clarity in its approach and its future plans, more than its fundamentals, that is holding up the stock at 1.2X book, else why should this merged bank that is posting losses, with lumpy loans and low CASA, command these valuations.

IDFC First Bank has also undertaken a new transformative brand proposition #AlwaysYouFirst. To promote this new customer-first approach and its 7% p.a. savings account, a campaign was launched in Facebook, Twitter, Instagram & YouTube to create an influencer marketing campaign.

By roping in social influencers like Soha

IDFC First Bank roped in Madhivanan Balakrishnan, the Chief Technology Officer (CTO) of ICICI Bank to be their Chief Operations Officer (COO). This move reveals the pragmatic mind of MD & CEO V Vaidyanathan, as banking operations are turning more and more technology based.

Ali Khan, Karan Kundrra, Anusha Dandekar, Mohsin Khan, Siddharth Nigam, Prince Narula and Harsha Bhogle to ensure the brand was always first in consumers’ minds, the campaign supported several social conversations through interesting content around Game of Thrones (GoT), Avengers: Endgame & ICC World Cup 2019.

Capitalizing on the growing trend of celeb reaction videos, #AlwaysYouFirst was promoted through India’s first ever Television Commercial (TVC) Reaction video series, featuring the influencers.

The TVCs showed people putting the needs of others first and the influencers shared similar moments from their lives in the films. The series created a huge impact and consumers started sharing their own #AlwaysYouFirst stories.

The bank today serves 7.2 million customers through 203 bank branches, 129 ATMs and 454 rural business correspondent centres.

IDFC Bank and Capital First had brought

in different strengths and weaknesses to the table when they merged. While IDFC Bank had the strength of a banking licence which is at a premium in India, Capital First as an NBFC had the retail loans franchise, consistent growth, low NPA, and profitability.

Madhivanan Balakrishnan, COO

On the other hand, IDFC Bank had the weakness of its legacy infrastructure lending business which was reeling under NPAs, whereas Capital First had the weakness of not being a bank and therefore not having the security and access to low cost funds.

In fact, if this marriage of convenience had not happened, both IDFC Bank and Capital First would have found themselves in far worse shapes, as IDFC Bank would have been severely affected by the IL&FS crisis, whereas Capital First would have faced the subsequent liquidity issues much like most other NBFCs. Not that the IL&FS crisis has not affected the combined entity, and in fact the troubling Q1 numbers – with the bank reporting a loss of Rs. 617 crore – is mainly due to this on-going crisis in the infrastructure and realty lending market.

The bank took high provisions in Q1 for two accounts – DHFL and Reliance Capital – to which erstwhile IDFC Bank had significant exposure.

Not that the new bank does not have other challenges either. CASA is low at 15%, branch count is low, and even preprovisioning profits are low. The Cost to Income is high at 78.60%, though lower than the previous quarter’s 82.79%.

But today, the combined entity is greatly equipped to weather this storm, as the retail franchise of IDFC First Bank is growing admirably both on the lending front and the deposit front.

While the bank has confidently guided for a 25% growth in its retail loan book including MSME, its CASA has jumped 64% and Net Interest Margin (NIM) has moved up to 3.03%, and CEO Vaidyanathan has guided to take this to 5% in five years.

The bank is also not looking for any equity raise in the near future, as it is carefully synchronising a growth in retail

book with a de-growth in wholesale infrastructure loans.

All eyes will be on MD & CEO, V Vaidyanathan who had achieved remarkable retail and MSME growth in Capital First which saw it growing by 40% year-on-year for nearly 8 years before the merger happened.

As part of its Corporate Social Responsibility (CSR) programme, IDFC FIRST Bank now provides financial assistance to meritorious students from poor socioeconomic backgrounds and enables them to pursue an MBA degree or its equivalent.

The ‘MBA Scholarship Program’ is the Bank’s flagship programme in the education space. Besides this, the Bank also provides scholarships for people pursuing higher education or teaching in the mental health space, for students with autism, for students enrolled in the Young India Fellowship programme of Ashoka University, and for youth from shelter homes and underprivileged backgrounds.

Over 350 students have benefited from these programmes over the last four years. The programme was initiated by the erstwhile Capital First for meritorious but economically backward families, and has been carried over into the merged entity after merger of Capital First and IDFC Bank.

The Bank’s flagship MBA Scholarship Program provides access to eligible applicants who do not have the financial means to meet their educational goals. It makes some of the best colleges and universities in the country accessible to such students, regardless of their financial situation.

About 150 scholarships will be given out by the Bank this year.

This scholarship is different from most mainstream scholarships because it does not focus only on leading colleges. Instead, it supports students from over 150 B-Schools across India.

The Bank has managed to cover around 22 states and also to support students from urban and rural India.

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HEALTH

A DEADLY DISEASE DUE TO E-CIGARETTE USE, APPEARS

A deadly and mysterious lung illness linked to e-cigarette and vaping has started appearing with nearly 100 cases suspected in USA alone. At least 31 cases have been already confirmed, officials said, and dozens more are under investigation. Medical authorities say it is unclear whether patients will fully recover. tate and federal health officials are investigating almost 100 cases of mysterious lung illnesses linked to vaping and ecigarette use in 14 US states, many of them involving teens and young adults.

A large number of those stricken ill have been hospitalized, with some in intensive care and on ventilators.

At least 31 cases have been already confirmed, officials said, and dozens more are under investigation. Medical SEASONAL MAGAZINE

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authorities say it is unclear whether patients will fully recover.

Officials are warning clinicians and the public to be on alert for what they describe as a severe and potentially dangerous lung injury. Symptoms include difficulty breathing, shortness of breath or chest pain before hospitalization. Health officials said patients have also reported fever, cough, vomiting and diarrhea.

The Centers for Disease Control and Prevention said that officials are working

with health departments in at least five states with confirmed cases - California, Illinois, Indiana, Minnesota and Wisconsin - to determine the cause of the condition after "a cluster of pulmonary illnesses linked to e-cigarette use" was reported among adolescents and young adults in recent weeks. In a call with state health authorities, CDC officials said they were probing 94 possible cases in 14 states.

To date, there is no consistent evidence that an infectious disease is the culprit,

CDC spokeswoman Kathy Harben said.

While some of the cases appear similar, officials said they don't know whether the illnesses are associated with the ecigarette devices themselves, or with specific ingredients or contaminants inhaled through them. Health officials have said patients have described vaping a variety of substances, including nicotine, marijuana-based products and do-it-yourself "home brews."

Underscoring the growing level of concern, CDC officials say they are notifying health-care systems and clinicians across the country about the illnesses and what to watch for. State health departments have also issued warnings.

E-cigarettes have grown in popularity over the past decade despite little research on their long-term effects. In recent years, health authorities have warned of an epidemic of vaping by underage teenagers. The leading brand, Juul, said it is monitoring the reports of illnesses and has "robust safety monitoring systems in place."

"We haven't had that kind of history with vaping to be able to assure anyone - teens included - that this is a safe practice," said Emily Chapman, chief medical officer at Children's Minnesota, a health system headquartered in Minneapolis, which has cared for four teens with the illness, ages 16 to 18.

In the past month, the teenagers presented with symptoms that appeared manageable and consistent with a viral infection - shortness of breath, coughing, fever and abdominal discomfort, Chapman said. But the teens continued to deteriorate despite treatment, including antibiotics and oxygen support. Some of the teens suffered respiratory failure, requiring the use of ventilators, she said.

Chapman said physicians eventually made the connection to vapingassociated acute lung injury. When the patients were treated with steroids, among other therapies, they showed improvement. Clinicians don't know whether the patients will suffer longterm consequences, she said.

"These cases are extremely complex to

But many medical authorities believe there isn't sufficient data to know their full effects, especially on young people.

diagnose, as symptoms can mimic a common infection yet can lead to severe complications and extended hospitalization," Chapman said.

"Medical attention is essential.

Respiratory conditions can continue to decline without proper treatment."

E-cigarettes are a diverse group of products containing a heating element that produces an aerosol from a liquid that users can inhale via a mouthpiece.

Millions of Americans use e-cigarettes, with the greatest use among young adults. In 2018, more than 3.6 million U.S. middle-school and high-school students said they had used e-cigarettes in the past 30 days, according to the CDC. A National Academies of Sciences, Engineering and Medicine report in January found that while e-cigarettes are less harmful than conventional cigarettes, which produce a raft of toxic substances when burned, they still pose health risks. Among nonsmoking adolescents and young adults, the report said, "their adverse effects clearly warrant concern," among them "moderate evidence for increased cough and wheeze" and increased incidence of asthma.

A National Academies of Sciences, Engineering and Medicine report in January found that while e-cigarettes are less harmful than conventional cigarettes, which produce a raft of toxic substances when burned, they still pose health risks.

Dylan Nelson, of Burlington, Wisconsin, who has asthma and has been vaping for about a year, was hospitalized with pneumonia last month after he started having trouble breathing. The 26-yearold described feeling as if he were breathing through a straw. He said he was coughing, his heart was racing and his breathing was hard and fast.

Nelson said he spent days in the hospital, some of that time attached to a ventilator. His mother, Kim Barnes, said when a nurse told her it might be related to vaping, it was a wake-up call for her.

Now, she wants to convey that sense of urgency to other parents: "You need to sit your kids down and tell them the dangers of this stuff. If you're an adult, wise up - this is not good. Look into it before you decide to pick this stuff up and start using this."

Wisconsin had 15 confirmed cases, including Nelson's, and another 15 under investigation, all of whom were hospitalized, the health department said.

The first cases were among teens and young adults, but newer ones include patients in older age groups, officials said. All the patients reported vaping in the weeks and months prior to being hospitalized, but officials said they do not know the names and types of products used.

Minnesota's health department, meanwhile, urged providers to be on alert "for vaping as a cause for unexplained breathing problems and lung injury and disease." It is asking clinicians to look for similar cases and report them.

"There are still many unanswered questions," said Ruth Lynfield, Minnesota state epidemiologist and the health department's medical director.

"But the health harms emerging from the current epidemic of youth vaping in Minnesota continue to increase."

Doctors had seen "scattered cases" of lung illnesses tied to vaping before, but they had not identified a pattern until now, said Chapman of Children's Minnesota.

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ANIMAL ABUSE

70 YEAR OLD SKINNY ELEPHANT WAS PARADED, AND DEAD NOW A 70-Year-Old bony elephant was paraded in Sri Lanka for a festival. She later collapsed and died.

Sri Lanka has ordered an investigation after a skeletal 70-year-old elephant was paraded at a high-profile Buddhist pageant in a move criticised as cruelty to the ailing animal.

SLEEP LOSS AND SCREEN TIME: TWIN CULPRITS BEHIND IMPULSIVE KIDS

Tourism and wildlife minister John Amaratunga said he ordered wildlife authorities to investigate how the elephant known as Tikiri was forced to take part in a lengthy parade despite her poor health.

Nine to eleven hours of sleep and no more than two hours of recreational screen time a day is what can save your children from becoming impulsive and make poorer decisions in life, find researchers.

Animal-lovers slammed the authorities for forcing the aged animal to participate in the annual Esala Perehara (pageant) wearing elaborate clothing at the hugely popular night festival in the central city of Kandy earlier in the week.

After the howl of protests over social media, festival organisers withdrew the aged animal from the grand finale.

"I have been informed that the elephant collapsed yesterday," the minister said in a statement.

"Considering what has transpired, I have ordered officials to initiate an inquiry and ascertain how and why an elephant in such poor health was used in the perehara (pageant) and to take necessary action against those responsible."

The minister said he had also instructed wildlife authorities to ensure there was no repetition of such cruel treatment to some 200 elephants in captivity and

Animal-lovers slammed the authorities for forcing the aged animal to participate in the annual Esala Perehara (pageant) wearing elaborate clothing at the hugely popular night festival in the central city of Kandy earlier in the week.

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routinely paraded at Buddhist temple festivals.

Officials of the Temple of the Tooth which organised the Esala festival in Kandy - said Tikiri was not a temple elephant, but they withdrew her from Wednesday's finale which involved dozens of other jumbos.

Asian elephant expert Jayantha Jayewardene described the animal's treatment as inhumane.

"Obviously the animal is severely undernourished, it is close to death," Jayewardene told.

"Owners parade their elephants to gain merit for themselves and not for the animal. This should never have been allowed," he said.

Lek Chailert, the founder of the Save Elephant Foundation, said on social media that spectators did not realise how weak Tikiri was because she was covered in an elaborate costume.

"No one sees her bony body or her weakened condition, because of her costume," Chailert said. "No one sees the tears in her eyes, injured by the bright lights that decorate her mask, no one sees her difficulty to step as her legs are short shackled while she walks."

The Temple of the Tooth, Buddhism's holiest shrine on the island, holds the annual festival with traditional drummers and dancers as well as nearly 100 tame elephants.

Many rich Sri Lankans keep elephants as pets, but there have been numerous complaints of ill treatment and cruelty.

Impulsive behaviour is greatly linked to sleep and screen time, found Healthy Active Living and Obesity Research Group (HALO) at the CHEO Research Institute in Ottawa.

"Impulsive behaviour is associated with numerous mental health and addiction problems, including eating disorders, behavioural addictions and substance abuse," said Dr Michelle Guerrero, lead author from CHEO Research Institute and University of Ottawa.

The paper, published in the journal Pediatrics, analysed data for 4,524 children from the first set of data of a large longitudinal population study.

In addition to sleep and screen time, the study also captured data related to physical activity - at least 60 minutes of moderate to vigorous exercise daily.

The ABCD study allowed Guerrero and her team to look at the three pillars of the movement guidelines against eight measures of impulsivity, such as one's tendency to seek out thrilling experiences, to set desired goals, to respond sensitively to rewarding or unpleasant stimuli, and to act rashly in negative and positive moods.

The results suggested that meeting all three pillars of the movement guidelines was associated with more favorable outcomes on five of the eight dimensions.

ECONOMY

WHY RELIANCE IS CUTTING DEBT? DOES MUKESH AMBANI SEE DARK CLOUDS GATHERING ON THE HORIZON? FROM HIS MESSAGE TO SHAREHOLDERS, IT DOESN'T LOOK LIKE INDIA'S RICHEST TYCOON IS WORRIED. BUT HIS ACTIONS MAY REVEAL MORE THAN HIS WORDS. At Monday's annual general meeting, the chairman of Reliance Industries Ltd. was brimming with optimism. Not only did he endorse Prime Minister Narendra Modi's vision of bumping up annual GDP by 80 per cent in five years to $5 trillion, he even forecast a $10 trillion Indian economy by 2030. It's not only possible but "inevitable," he said.

Something doesn't add up. If the outlook is so rosy, why is Mr Ambani hitting the brakes on a seven-year, $100 billion investment spree across refining, petrochemicals, telecom and retail?

While a breather after such frenzied activity may be understandable, why does he want Reliance to be a zero-netdebt company in 18 months? What will it mean for the more than 100 banks and financial institutions around the world that provide India's largest company and its subsidiaries with billions of dollars and yen, and rupees - in financing and refinancing? Above all, what will Reliance's deleveraging mean for India?

In retrospect, I tackled the last question prematurely in October 2016 when Reliance was shouldering 13 per cent to 14 per cent of the entire investment

by India's top 1,250 listed companies as well as Indian Railways and state-owned electricity boards. My conclusion then was that if Mr Ambani took a yearlong vacation, India's growth outlook could dim. What I didn't anticipate was that starting a 4G mobile network with lifetime free voice calls and dirt-cheap data was just the beginning rather than the end of Mr Ambani's telecom ambitions. The goal of Reliance Jio was to acquire at least half of India's 1 billion-plus mobile customers, and that required continued spending.

Now that he's reached 340 million subscribers, though, the endgame is probably not more than a few quarters away. And that's problematic for the economy. The rest of India Inc. is paralyzed by debt and self-doubt; consumers are overstretched; and so is the government. A holiday for Reliance would remove from play the only domestic balance sheet with unspent firepower.

The investment cycle for the Jio network is complete, Mr Ambani told shareholders. In other units, too, there's little left to do. Mr Ambani is selling 20 per cent of the family jewel - Reliance's refining and petrochemical operations to Saudi Arabian Oil Co. even though the goal is more strategic than just shedding debt. As my colleague David Fickling wrote, the $75 billion enterprise value at which Aramco is investing is a lot higher than the business is worth.

Saudi Arabia wants takers for its surplus oil in a world of electric vehicles, and if Reliance's refinery can provide a profitable outlet for 500,000 barrels per day of Saudi crude by converting it into jet fuel and polymers, then Mr Ambani is doing the right thing by taking Aramco's money.

INDIA ACHIEVING GOALS IT ONLY DREAMT ABOUT: PM TO INDIANS IN FRANCE

Prime Minister Narendra Modi addressed the Indian community in France on Friday during the first leg of his three-nation tour. PM Modi stated, "India is now achieving goals that it only dreamt about." He added that the India-France friendship is unbreakable and there is a huge support for the French football team in India.

URGE PEOPLE TO ADOPT SHELTERLESS COWS: YOGI TO VARANASI OFFICIALS

Uttar Pradesh Chief Minister Yogi Adityanath on Thursday instructed officials in Varanasi to motivate citizens to adopt shelterless cows, during a meeting to review developmental projects in the town.

Adityanath, who is on a two-day visit, also instructed the officials to complete the developmental projects within their deadlines.

JAWAN MARTYRED AS PAKISTAN VIOLATES CEASEFIRE ALONG LOC IN J&K An Army jawan was martyred on Friday in a ceasefire violation by Pakistan Army along the Line of Control (LoC) in Rajouri district of Jammu and Kashmir, officials said.

The martyred jawan was manning a forward post in Kalsian village that had come under unprovoked firing, following which the Indian Army launched an effective retaliation.

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INTERNATIONAL

WHY TRUMP WANTS TO BUY GREENLAND, TWO-THIRDS THE SIZE OF INDIA Leading realtor turned US President Trump is said to be eyeing a new real-estate purchase for America - Greenland, world's largest island, which is two-third the size of India. In conversations with aides, the president has — with varying degrees of seriousness — floated the idea of the U.S. buying the autonomous Danish territory which is strategically located near USA and which already hosts America's northern most military base as well as NASA's facilities. But Greenland and/or Denmark seem to be in no mood to sell for now. resident Trump made his name on the world’s most famous island. Now he wants to buy the world’s biggest.

fascination that will never come to fruition. It is also unclear how the U.S. would go about acquiring Greenland even if the effort were serious.

The idea of the U.S. purchasing Greenland has captured the former realestate developer’s imagination, according to people familiar with the discussions, who said Mr. Trump has, with varying degrees of seriousness, repeatedly expressed interest in buying the ice-covered autonomous Danish territory between the North Atlantic and Arctic oceans.

With a population of about 56,000, Greenland is a self-ruling part of the Kingdom of Denmark, and while its government decides on most domestic matters, foreign and security policy is handled by Copenhagen. Mr. Trump is scheduled to make his first visit to Denmark early next month, although the visit is unrelated, these people said.

In meetings, at dinners and in passing conversations, Mr. Trump has asked advisers whether the U.S. can acquire Greenland, listened with interest when they discuss its abundant resources and geopolitical importance and, according to two of the people, has asked his White House counsel to look into the idea.

The White House and State Department didn’t respond to a request for comment.

Officials with Denmark’s Royal House and the Danish embassy in Washington didn’t immediately respond to requests for comment, nor did officials with Greenland’s representative office in Washington and Greenland’s prime minister’s office.

Some of his advisers have supported the concept, saying it was a good economic play, two of the people said, while others dismissed it as a fleeting

U.S. officials view Greenland as important to American national-security interests. A decades-old defense treaty between Denmark and the U.S. gives

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the U.S. military virtually unlimited rights in Greenland at America’s northernmost base, Thule Air Base.

Located 750 miles north of the Arctic Circle, it includes a radar station that is part of a U.S. ballistic missile earlywarning system. The base is also used by the U.S. Air Force Space Command and the North American Aerospace Defense Command.

The U.S. has sought to derail Chinese efforts to gain an economic foothold in Greenland. The Pentagon worked successfully in 2018 to block China from financing three airports on the island.

People outside the White House have described purchasing Greenland as an Alaska-type acquisition for Mr. Trump’s legacy, advisers said. The few current and former White House officials who had heard of the notion described it with a mix of anticipation and apprehension, since it remains unknown how far the president might push the idea.

It generated a cascade of questions among his advisers, such as whether the U.S. could use Greenland to establish a stronger military presence in the Arctic, and what kind of research opportunities it might present.

Though it has vast natural resources across its 811,000 square miles, Greenland relies on $591 million of subsidies from Denmark annually, which make up about 60% of its annual budget, according to U.S. and Danish government statistics.

Though Greenland is technically part of North America, it is culturally and politically linked to Europe. Following World War II, the U.S. under President Harry Truman developed a geopolitical interest in Greenland and in 1946 offered to buy it from Denmark for $100 million. But Denmark refused to sell.

And that was the second failed attempt— the State Department had also launched an inquiry into buying Greenland and Iceland in 1867.

At a dinner with associates last spring, Mr. Trump said someone had told him at a roundtable that Denmark was having financial trouble over its assistance to Greenland, and suggested that he should consider buying the island, according to one of the people.

“What do you guys think about that?” he asked the room, the person said. “Do you think it would work?”

The person described the question less

Though Greenland is technically part of North America, it is culturally and politically linked to Europe. Following World War II, the U.S. under President Harry Truman developed a geopolitical interest in Greenland and in 1946 offered to buy it from Denmark for $100 million.

as a serious inquiry than as a joke meant to indicate “I’m so powerful I could buy a country,” noting that since Mr. Trump hadn’t floated the idea at a campaign rally yet, he probably wasn’t seriously considering it. The person believed the president was interested in the idea because of the island’s natural resources and because it would give him a legacy akin to President Dwight Eisenhower ’s admission of Alaska into the U.S. as a state.

Secretary of State Mike Pompeo was scheduled to visit Greenland in May with the aim of discussing long-term peace and sustainable economic developments, particularly since “we’re concerned about activities of other nations, including China, that do not share these same commitments,” a senior State Department official said at the time.

Mr. Pompeo was also scheduled to visit the New York Air National Guard in Kangerlussuaq, which supports U.S. scientists conducting research on Greenland’s ice cap.

His trip was called off at the last minute because of escalating tensions with Iran.

Kenneth Mortensen, a real-estate agent in Nuuk, Greenland’s capital, said that the running joke in Greenland currently is that Mr. Trump is traveling to Denmark with the sole intention of buying their island. But he said Mr. Trump might run into some trouble.

“You can never own land here,” Mr. Mortensen said, as all land is owned by the government. “In Greenland, you get a right to use the land where you want to build a house, but you can’t buy.”

“Of course, buying Greenland is a different issue altogether,” he added.

“I’m not sure about that.”

GOOGLE ASSISTANT CAN SEND REMINDERS TO OTHERS NOW YOU CAN USE GOOGLE ASSISTANT TO SEND REMINDERS TO FRIENDS AND FAMILY. YOU CAN SEND REMINDERS ON PHONES OR GOOGLE HOME DEVICES VIA ASSISTANT. Google is adding a new feature to its Assistant that lets people send reminders to their friends and family on phones or Google Home devices.

The feature is designed mostly for families and it would function via the Family Group feature so that the parents can send reminders to their children or spouse and the reminder will pop up on the mobile phone or Google Assistant-powered Smart Display, The Verge reported on Thursday.

For children under 13 to use assignable reminders, they must be granted access to the Assistant on Google Home by adults in the household and all users could block someone from sending them Assignable Reminders.

In addition, users can also create a reminder for anyone who has their account linked to the same smart display or speaker.

The new update would soon roll out in English in the US, the UK along with Australia and the feature would also be available on the Google Nest Hub Max when it becomes available next month.

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Carl Jaison

INDIA, KASHMIR AND AR THE COSTS OF SECURIT “Nobody in the government is talking. They say it’s a case of national security” is a famous line from The Spy Files: A Brent Marks Legal Thriller authored by Kenneth Eade. The sentiment captures the tense moments leading up to the Modi government’s landmark decision to abrogate Article 370 and reorganize the state of Jammu and Kashmir. Almost a fortnight after the historic move, the region continues to keep the world community interested particularly considering the involvement of two nuclear-powered states – India and Pakistan. While India has chosen to call its action as an ‘internal matter’, the complex interplay of factors deem the situation to be otherwise. Predictably, Pakistan sounded the alarm bells by fashioning a range of responses – including a closed-door United Nations Security Council meeting, mobilized protests involving its diaspora outside Indian embassies in Western countries, unabated tweeting on the part of Pakistani Prime Minister Imran Khan calling out the Modi government’s ‘fascist’ tendencies. Amidst this unfolding drama, the otherwise outspoken US President Donald Trump decided against stoking tensions with his statements – a reference to his ‘Kashmir mediation’ remark that had infuriated the Indian leadership. The US’ position evolved from one of ‘moderate support’ to ‘strong acceptance’ of the bilateral commitments to talks between India and Pakistan. Despite the occasional warnings to preserve the human rights of the Kashmiris under lockdown, the US has steered clear of wading into a political controversy. Recently, Trump opined that the Kashmir conflict is a ‘religious one between Hindus and Muslims’ and he hoped that the two sides would come together for meaningful dialogue. Although most of his statements need to be taken with a pinch of salt, the communalization of the conflict has serious consequences to India’s regional security and counter-terror efforts. Moreover, the sheer persistence with which Trump occasionally brings up Kashmir suggests that the US is playing a larger game in its South Asia strategy. In spite of India’s strong conviction that the Kashmir issue is its own national interest, the motivations of other actors are hard to ignore. By inviting renewed attention to the region, India has not only upped the stakes for itself but also other actors. The spiral of conflict and interests would inevitably increase the costs of security maximization. As the world slowly comes to terms with the events in Kashmir, India have a task on their hand to mitigate the adverse impact of its security maximizing policy.

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RTICLE 370: Y MAXIMIZATION

The strategic significance of Kashmir is well known to India’s political leadership. While it involved a decision regarding India’s own sovereign territory, it was fashioned in a way that warrants a Crimea-like understanding due to its security implications for the whole region.

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In 2014, Russia had annexed Crimea, which was a part of Ukraine’s eastern territory. Formerly part of Soviet Russia, the Crimean Oblast was transferred in 1954 to the Ukrainian SSR by the then General Secretary of the Communist Party Nikita Khrushchev. However, since the fall of the USSR, it had been assigned strategic and historical value

by Russia. Putin’s annexation of Ukraine’s sovereign territory had invited criticism from the US and NATO and has since soured relations between the two former Cold War rivals. Almost 3500 kms away, in five years time, another geopolitical hotspot would attract similar attention. The strategic significance of Kashmir is well known to India’s political leadership. While it involved a decision regarding India’s own sovereign territory, it was fashioned in a way that warrants a Crimea-like understanding due to its security implications for the whole region. Despite the nationalistic overtones of the move that India considers an internal matter; the underlying strategy has wider regional security implications. For starters, Pakistan erroneously stakes claim over the “disputed” territory. Therefore, India’s latest move has put them in a tight spot.

According to Stephen Walt’s ‘balance of threat’ theory, India’s action can be considered as a counterweight to the growing US-Pakistan alliance in the context of Afghanistan. The imminent

withdrawal of U.S forces from Afghanistan is predicated on Pakistan’s promise to engage with the Taliban in matters of its neighbour’s internal security. The political urgency of the U.S move shifted the regional power balance in favour of Pakistan at the expense of India’s strategic interests in Afghanistan (via the Chahabar port in Iran).

Moreover, India failed to gain any foothold in the ongoing peace talks with the Taliban. With Taliban set to call the shots in Afghanistan’s political future, aided by Pakistani backing, the loss of strategic influence vis-à-vis Afghanistan dealt a major blow to its regional security aspirations. The decision to tighten the screws on Kashmir was

Therefore, today’s surveillance-obsessed Chinese state is a product of internal balancing. India, given its exposure to cross-border terrorism, justifies security measures in Kashmir based on the logic of internal balancing.

India’s way of sending a strong message to Pakistan that it will not allow Islamabad to undermine its core regional objectives.

FLUCTUATIONS IN REGIONAL POWER DYNAMICS What are the broad regional implications of the move to abrogate Article 370? Firstly, India defines its security interests based on regional power dynamics. Over the years, any move that potentially undermined Indian interests was met with proportionate or disproportionate responses. For example; India’s intervention in East Pakistan in 1971 was primarily determined by the unprecedented migration of Bangladeshis across the border. The flow of Tamil refugees from Sri Lanka was similarly the cause of India’s tacit support of the LTTE in the early years

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of the war, which later backfired miserably leading to a change of stance.

As Afghanistan attracts the attention of the world, India could not leave its destiny in the hands of the PakistanTaliban alliance.

Secondly, introduction of internal security measures ensures rapid troop mobilization in the event of an uncertain external environment. Once again, history is replete with examples of regional powers undertaking internal balancing to determine its course of actions. China’s harsh clamp down of protestors in the infamous Tiananmen Square massacre introduced a series of laws and reforms to strengthen internal security.

Therefore, today’s surveillance-obsessed Chinese state is a product of internal balancing. India, given its exposure to cross-border terrorism, justifies security measures in Kashmir based on the logic of internal balancing.

The continued communications blackout is only going to worsen the already deteriorating situation. As argued by Iyer-Mitra, ‘the communications blackout is the surest sign of an un-industrialised state, which despite its alleged IT prowess understands nothing about information and its use in security, leave alone crowd control or the psychology of population control.’

The political costs and opportunities are obvious, but the external strategic implications need to be discerned.

While India has regained the strategic advantage in Kashmir, it is unlikely that the move would serve to enhance India’s influence in Afghanistan and by extension the regional power politics.

If the decision on Kashmir is linked to Afghanistan or annoyance with foreign interference on internal matters (read: Trump’s Kashmir ‘mediation’ remark), India has achieved little ground in projecting its ambitions beyond Kashmir. At best, India may have managed to convince the world about its sovereign right over Kashmir but whether it can assure them about longterm regional stability is another matter.

This, not Kashmir’s self-autonomy, will dictate the interest of great powers. The longer the current security situation persists, the harder it would be for India to assure the likes of US, Russia and

China of regional stability.

Can India’s decision to deploy forces in Kashmir complicate the power dynamics in the region? Pakistan has certainly been caught off guard but would weigh their options desperately.

While the FATF sanctions might serve as a short-term deterrent to their backing of a terrorist strike against India, there is already talk of the Pakistan army training Pashtun and Afghan fighters to enter J&K. If Pakistan’s preoccupation with Afghanistan prevents any response to India’s swift act on Kashmir, then it unsettles the stakes for other regional actors invested in the long-term future stability of Afghanistan. Following their talks with the Taliban, the US, Russia and China had identified Pakistan as the lead player. If Pakistan were to be left in the lurch regarding developments in Kashmir, it would necessarily nudge

them to abandon and, much worse, allow Taliban to call the shots in Afghanistan. Regional security is a situation of one-upmanship where state interests fluctuate based on external threats to power. It would be premature to term India’s decision as changing the regional geopolitical landscape with Pakistan still holding the Afghan card.

The other regional actors, especially China, would wish that Pakistan remains invested in their Afghan duties with potential BRI investments for the taking.

CHALLENGES OF INSURGENCY AND TERRORISM As mentioned earlier, it is almost taken as a given that power maximization guarantees security objectives. Despite SEASONAL MAGAZINE

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the soundness of a state’s power maximizing policy, it often fails to account for one of the cardinal laws of physics: Newton’s Third Law of Motion, which states that ‘every action has an equal and opposite reaction’. A move that clearly seeks to wrest away Kashmir’s autonomy is bound to increase incidences of insurgency and terrorism. As argued by political scientist Paul Staniland, the bid to depoliticise Kashmir has severe consequences – one that India had already witnessed during the troubled1990s when insurgency was at its peak.

While the additional troop deployment serves to counteract any possible fallout from the move, it also sets in motion the vicious cycle of ‘security-terrorisminstability’. One can argue that this has always been the standard operating principle in Kashmir and in most conflict-ridden zones but the current scenario throws up a complicated outcome.

Firstly, with little international legitimacy for its Kashmir stance, Pakistan’s ISI won’t hesitate to continue sending jihadists to disrupt any SEASONAL MAGAZINE

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semblance of stability in the Valley. In fact, Pakistani motivation would be stronger given that Kashmir is a matter of prestige for its military. Hiding behind the cover of US’ dependence over its active role in Afghanistan, Pakistan would feel emboldened to strike India hard and engage in disruptive politics.

Although the Indian strategic leadership can easily pre-empt Pakistani propensity for indulgence in Kashmir whenever the stakes are high, this time around the difficulty lies in defining the new ‘red lines’ over its counter-terror policy.

Would low-intensity attacks attract a Balakot-like response? With Kashmir now regarded as ‘an integral part of India’, would India respond with equal vigour as before? Would the response involve the opening of diplomatic channels of communications with

The revival of the Taliban would instigate local elements prone to terrorism to enlist the actor’s support in the fight for Kashmiri independence.

Pakistan? Based on the assumption that Pakistan-sponsored terror is ripe for escalation, how would New Delhi manage to recalibrate its range of options available?

Secondly there is a strong possibility of spike in the level of home-grown insurgency and terrorism with Kashmir’s jihadist fighters deriving inspiration from an essentially ‘pan-Kashmiri sentiment’. While this isn’t something new, the latest ground reality suggests it could destabilize the region far more potently than before. In seeking security, India effectively opened the possibility of escalation with the disaffected section of the Kashmiri population. This would have farreaching consequences for any comprehensive strategy to maintain peace and stability in the Valley. The application of the recently promulgated UAPA Amendment Bill is another contentious issue that would complicate the handling of counter-terror operations. With ISIS claiming to have established a ‘Hind Province’ to wage jihad against India, the allure of terrorism would receive a facelift. The revival of the Taliban would instigate

local elements prone to terrorism to enlist the actor’s support in the fight for Kashmiri independence. While insurgency looks poised to rise, the lack of security infrastructure might hamper India’s counter-terror (CT) efforts.

Unlike Israel, which has put in place a holistic CT approach that responds according to the nature of threat, the Kashmir’s state police force has limited capability to deal with large scale offensives. Moreover, Israel’s strong surveillance infrastructure has succeeded in preventing the rise of the “Knife Intifada” of 2015-2016. As the situation in Kashmir unfolds, India might do well to take precautionary measures on the CT front. Mere increase in troop deployment only serves to mitigate the impact of a terror strike but rarely seeks to prevent the same.

THE BURDEN OF ‘RETURNING THE FAVOUR’ When India sought the securitymaximizing approach in Kashmir, it opened up two possibilities: its impact on regional security (discussed above) and the reaction of external actors like the US, Russia, China etc. While the regional security prospects remain uncertain, India left no stone unturned in its quest to mobilize international backing of the move. It was reported that India had already communicated its course of action to the P5 countries (US, UK, Russia, China and France) including a recent mention of it by S Jaishankar, Minister of External Affairs to Mike Pompeo, US Secretary of State.

In the absence of the violation of any international treaty or agreement, India decidedly expected that none of the major countries would wade into the issue. Positioning it as a matter of internal security, India succeeded in its strategy. Barring Pakistan, none of the major states voiced immediate criticism for India’s action. Even China’s strong response came a day later after Home Minister Amit Shah clarified that Pakistan-occupied Kashmir and the Chinese-occupied Aksai Chin region are also part of J&K. While India certainly proved its diplomatic heft, it remains to be seen

whether it bodes well for strategic interests. Despite India’s strong reservations against any foreign dabbling on the Kashmir issue, major powers generally do not concede a geopolitical opportunity without the promise of a ‘return gift’. In relaying an internal matter such as the abrogation of Article 370 to major powers, India might be obliged in return to act on areas where they had previously fallen short on performance and expectations.

This is to be most expected from the US, which is led by a President with a transactional approach to foreign policy. This could manifest in two ways: Firstly, India could be called on to take actionable steps in its bilateral commitments and security arrangements with major powers (for example, in the Quad). India has been the most reserved of the four member countries of the Quad, a stance borne out of prudence given that there is nothing to be gained from openly ganging up against China. By procuring US acquiescence on the Kashmir move, India needs to manage the fallout of its possible refusal to partake in multilateral groupings such as the Quad in the near future. In short, the expectations of

Even China’s strong response came a day later after Home Minister Amit Shah clarified that Pakistan-occupied Kashmir and the Chinese-occupied Aksai Chin region are also part of J&K.

burden-sharing on India would be stepped up.

Secondly, India could be expected to pick sides on issues where it would otherwise exercise restraint and take the diplomatic route (for example on 5G, missile defense systems etc). Although India would prefer to choose from the array of options available, it would be difficult to wriggle out of this conundrum by merely citing national interests. In the realm of technology it is increasingly becoming clear that 5Genabled AI systems would need to be sourced from technologically superior countries who in turn engage in hostilities and trade wars with each other. Such software is increasingly being integrated into military technologies as well. We are already seeing a potential showdown between the US and China as their tech software war heats up. This could have consequences on India’s technical capabilities and strategic choices.

At a theoretical level, the move to abrogate Article 370 by the Indian government seeks to maximize state security in an unstable regional environment. However, in practical terms, the quest for security is a never ending process where objectives shift based on evolving circumstances. In international relations, brute use or the threat of force by states is often construed as necessary to maximize security. This logic, however, doesn’t account for the consequences of security maximization for the future interests of the state, both for its own national and wider regional security.

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NEW INDIA ASSURANCE

PROVING ITS M THE CENTEN A

Not all PSU players put up an equally weak performance in FY'19. To the credit of New India Assurance, it was the only PSU insurer in 2019 who could post a profit. NIA turned in a profit of Rs 605 crore.

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METTLE IN ARY YEAR

Completing 100 years is no simple achievement and anyone would think that a centenarian company, which would automatically be a sector leader, would have its 100th year as easy as a piece of cake. Far from it, New India Assurance Company’s 100th year was one of its toughest in recent years, with not only multiple natural calamities but also with automobile sales sagging like never before and its auto premiums getting affected. Still, like a true leader, NIA has proved its mettle by more than making up the fall from other sectors like fire, marine, aviation & engineering, to post 16% growth in the recent Q1.

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oing forward too, that the general insurance sector is more than likely to throw up further challenges is evident from the overall FY’19 numbers from this segment.

What it will take to survive these tougher times to come will be nothing but a company’s experience in weathering such storms successfully, multiple times in the past, which is something in which New India Assurance is second to none.

The general or non-life segment of the industry has four PSU players including New India Assurance and 23 private insurance companies.

Together, they posted a net loss of Rs. 44 crore in FY’19, signalling the tough times facing the overall industry. This is a sharp negative turnaround from the Rs 6,341 crore profit registered by these 27 companies in FY’18.

While it can be argued that the PSU sector is responsible for this fall, this view is not fully correct as these 4 companies are still the dominant players with 52% market share in nonlife premiums, whereas the 23 private players together account for only 48% premiums, with the bulk of it dominated by the three largest private players. The private players also focus more on high margin policies rather than serving the mass markets.

Secondly, not all PSU players put up an equally weak performance. To the credit of New India Assurance, it was the only PSU insurer in 2019 who could post a profit. NIA turned in a profit of Rs 605 crore, even though it was a sharp fall from the previous year’s excellent performance.

Thirdly, it is the four public sector insurers who are called upon to wholeheartedly support all public interest schemes promoted by the governments at Centre and States, which are almost always lower-margin businesses.

What these all point to is the fact that SEASONAL MAGAZINE

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the general insurance sector in India is facing significant and multiple headwinds, which will require the best of the companies to overcome, across this year and probably the next two years. While all insurers – public and private – are gearing up to meet these challenges head on, New India Assurance as the largest player is better equipped to overcome the multiple issues and emerge successful.

The greatest headwind facing the general insurance industry today is the slump in auto sales. Since motor insurance is the largest business segment for general insurers, anything affecting automotive sales affects them.

This is a direct correlation as all motor vehicles running on Indian roads are required to have third party motor insurance, and hence whenever sales of automobiles hit a slow lane this impacts policy sales.

While New India Assurance too has been affected by this unprecedented storm in the automotive sector, it has weathered it better by compensating for it by new insurance policies from other sectors like fire, marine, aviation & engineering.

The growth achieved by NIA in these emerging areas proved timely, as some other core sectors of general insurance have also started underperforming. For example, crop insurance which was a good performer in FY’18 has turned to be problematic, with the unpredictable weather.

Similarly, and perhaps to a higher degree, losses have mounted in the property insurance business due to the multiple natural calamities that occurred across India in FY’19. This proved to be a double whammy for all insurers, including NIA, as reinsurance charges shot up.

The general insurance industry as a whole is facing issues at the underwriting level itself and not just the operational level. An underwriting loss is the excess of claims over

premium. Insurance companies can function healthily in a sustained fashion only when they can register underwriting profits, which is excess of premium over claims, for which sale of new policies, say in automotive and health, are essential.

This is because, claims tend to be much lower in the initial years, and especially in the first year, due to natural reasons as well as statutory controls in place to avoid immediate bogus claims. That is why the serious slowdown in auto sales has hit the general insurers hard.

Other factors too combined to act as an additional headwind in the general insurance industry. Even when insurance companies make underwriting losses, they usually make up for it using investment income.

Almost all general insurers are major institutional investors in the Indian equity market.

But this too was not much possible in FY’19 as the equity markets underperformed seriously as it was an election year. This is a headwind that is continuing as the stock markets have further tanked after the first full budget after the elections. This generally

While New India Assurance too has been affected by this unprecedented storm in the automotive sector, it has weathered it better by compensating for it by new insurance policies from other sectors like fire, marine, aviation & engineering.

affects the larger players like NIA more.

However, this sector leader has been fighting the slowdown by rapidly ramping up of the distribution force, bundling its offerings, competitively pricing its products, adopting newer technologies and embracing alliances and newer channels of distribution.

However, the real silver lining in the clouds is that almost all of the headwinds facing the general insurance sector today can vanish overnight on just policy measures by the government. For instance, the auto

sector is awaiting a much needed stimulus after months of sagging sales and job cuts, and the government is more than likely to act on this front.

Similarly, much of the pain in the industry today, especially the automotive sector, has had to do with missing rationalization in premiums.

India being a country with lax adherence to traffic rules, the accident rates tend to much higher than in developed nations, and therefore need a much more rationalized premium structure to avoid underwriting losses even when auto sales sag.

While the government has repeatedly

been sympathetic to this cause, the fact that almost all general insurers – public & private combined – except for three private insurers had to post underwriting losses, show that much more rationalization needs to be done in the industry’s largest segment, motor insurance. And this is likely to be another call that the government is set to take soon.

Such policy measures can achieve overnight miracles in the sector as historically speaking, premium from non-life companies has grown at a compounded annual growth rate of 17.5% since 2007. So once again given a conducive environment, the whole sector can post reasonable growth while leaders like New India Assurance can outperform.

For instance, coming to Q1 of this fiscal, even without much policy help, all general insurance companies taken together, posted a 9.91 percent yearon-year (YoY) increase in gross written premium collection. However, New India Assurance has outperformed the market, having collected gross premium of Rs 7,138.78 crore in the June quarter, showing a 13.62 percent YoY growth.

Over the longer term, general insurance sector also has significant room for growth in India. This is because due to under-penetration of the market, the non-life insurance industry in India accounts for only 30% of the total insurance industry premium, which is much lower than the global share of close to 50%. The room for growth is in fact much bigger than this, as the life insurance sector is still growing at a much higher clip still, in the country.

Atul Sahai, CMD

Apart from growth in gross written premium, New India Assurance saw a 4.6 percent YoY growth in net earned premium at Rs 5,406.05 crore in Q1.

However profitability has taken a hit again as there was a a 56.2 percent year-on-year (YoY) drop in standalone net profit for the June quarter at Rs 278.11 crore. This was on account of SEASONAL MAGAZINE

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a 53.8 percent YoY increase in its underwriting losses to Rs 1,097.78 crore in Q1.

As with almost all comparable players in the industry, NIA’s combined ratio rose 116.28 percent compared to 111.03 percent, during the same period last year. A combined ratio below 100 percent indicates that the insurer is making underwriting profit.

All business segments, including fire, marine, motor, health and crop, posted underwriting losses. This meant that the claims paid exceeded the premiums collected. This was most likely due to the impact of natural calamities like Cyclone Fani that hit Odisha in April/May 2019 and contributed to high claims subsequently.

Crop insurance posted an underwriting loss of Rs 5.86 crore in Q1FY20 compared to an underwriting profit of Rs 43.98 crore in Q1FY19. Motor insurance saw a 192.1 percent rise in underwriting loss to Rs 323.34 crore in the June quarter, due to the declining auto sales and therefore dipping third party premiums.

New India Assurance continues to be the country's largest general insurer

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International Finance Tec-City (GIFT).

New India Assurance has outperformed the market in Q1, having collected a gross written premium of Rs 7,138.78 crore in the June quarter, showing a 13.62 percent YoY growth. with 14.07 percent market share in FY19, despite the entry of private players from the likes of HDFC, ICICI and SBI. If Indian economy again starts to perform well, NIA can achieve near miracles. For example between FY12 and FY’17r, the annual premiums at NIA has doubled from Rs.10,000 crores to Rs 20,000 crore.

New India Assurance also has a reinsurance operation through a special unit. In October 2016, New India was the first insurance company to open a unit at International Financial Services Centre (IFSC) in Gujarat

Through this, the company has been able to provide global insurance services and facilities to Indian and international customers. Further, it was also able to offer re-insurance business to Indian companies operating in offshore locations.

While New India Assurance is the only listed public sector general insurer, its stock has recently underperformed the market. But many analysts have a longterm buy call on the stock as nobody expects India’s largest general insurer who has completed a century to underperform for long. At these low levels, it also offers reasonable dividend yields.

The future may be even brighter for New India Assurance. Government is known to be mulling a mega merger of all state-owned general insurers with the aim to create one large public sector general insurance company that will be comparable to Life Insurance Corporation of India (LIC). If the new proposal is considered, the three unlisted general insurers – National, Oriental & United - will be merged with New India Assurance, thereby creating a general insurance behemoth.

E C O N O M Y

PAIN SHIFTS TO TOP GEAR

the company’s office here, Lucas TVS had already announced non-working days last month.

Indian automotive sector's slowdown pain is spreading to more companies with Tata Motors, Ashok Leyland, and Hero halt production for various days. About 15,000 workers, mostly temporary and casual, are out of work in auto making firms over past 2-3 months, and 200,000 heads roll across dealerships.

“As the lull in the industry is continuing, a situation has come to reduce the number of working days,” the notification shared with the employees said. Following the development, the company said it has declared nonworking days for August 16 and 17.

s slowdown in the auto industry continues, more companies have decided to halt production temporarily.

These include Tata Motors, Hero MotoCorp as well as TVS Group companies Sundaram-Clayton Limited (SCL) and Lucas TVs, among others.

Already, Mahindra, Suzuki, Toyota and Ashok Leyland have announced production cuts due to the prevailing market demand scenario. Tata Motors has decided to halt production at the company’s Jamshadepur facility, which produces commercial vehicles, for two days.

The factory will remain closed on August 16 and 17, owing to decline in demand in the market. Tata Motors went for a day’s closure on August 1. It went for three block closures from August 8-10 and the third block is from August 16.

“The external environment remains challenging, leading to demand contraction. We have aligned our production to actual demand and adjusted the number of shifts and contractual manpower,” said the company’s spokesperson.

Ashok Leyland, which has closed some of its facilities for nine days in the last couple of months, has issued notice to employees that it is declaring August 17 and 19 as non-working days.

The measure is in line with the continuing sluggishness and contraction in the commercial vehicles market and the need to continue the corrective actions to safeguard the interest of the company, it said in the notice. The company did not respond to Business Standard’s query.

India’s largest two-wheeler maker, Hero MotoCorp, has decided to close its manufacturing facilities for four days.

“In line with this trend, our manufacturing facilities will be closed from August 15 to 18. While this has

“A decision will be taken on how to offset the job losses on the non-working days. Employees are requested to extend their cooperation,” added the notification.

been part of the annual holiday calendar on account of Independence Day, Raksha Bandhan and the weekend, it also partly reflects the prevailing market demand scenario,” said the company.

Hero MotoCorp has five plants in India and construction of its sixth manufacturing facility, at Sricity in Andhra Pradesh’s Chittoor district, has reached an advanced stage. After this facility starts ops, the company’s total installed capacity will be around 11 million units per annum.

Sundaram-Clayton Limited (SCL), the holding company of two-wheeler and three-wheeler maker TVS Motor has declared August 16 and 17 as nonworking days for its Padi factory near Chennai.

“This is due to business slowdown across sectors,” said the company. Part of the $8.5 billion TVS Group Company, SCL is the leading manufacturer and supplier of aluminium die cast products to domestic and global automotive original equipment manufacturers (OEMS).

Auto component manufacturer Lucas TVS, part of the TVS Group, declared non-working days for its employees owing to overall industry slowdown.

According to the notification posted by

Mahindra & Mahindra (M&M) has already announced the closure of its plants for 8-14 days in July-September.

Similarly, Tata Motors has announced closure for eight days, Maruti Suzuki will close for three days, Toyota Kirloskar also for eight days, Bosch for 10 days, Jamna Auto for 20 days, and Wabco for 19 days, according to reports.

During April-July, total production of the auto sector dropped by 10.65 per cent to 97,24,373 units against 10,883,730 units a year ago. During the same period, total domestic sales dropped by 13.90 per cent to 7,910,554 units from 9,187,965 units, a year ago.

Among the worst hit was medium and heavy commercial vehicle (M&HCV) production, which dropped by 22.35 per cent to 110,224 units against 141,958 units, a year ago. Passenger vehicles dropped by 13.18 per cent to 12,13,281 units from 13,97,404 units, a year ago.

Two-wheeler production dropped by 9.96 per cent to 7845675 units from 8713476 units, a year ago.

According to auto industry body Society of Indian Automobile Manufacturers (SIAM), almost 15,000 jobs, mostly temporary and casual workers, have been lost in the automobile manufacturing sector over the last two to three months.

Meanwhile, Federation of Automobile Dealers Associations or FADA said around 200,000 jobs have been cut across automobile dealerships in the country in the last three months.

(Credit: TE Narasimhan, Business Standard) SEASONAL MAGAZINE

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C R I C K E T

THROUGH THE LOOKING GLASS: OF CRICKET, CRICKETERS AND COACHES The new cricket season has started with aplomb. Ever since the sport’s marquee event – the ICC Cricket World Cup final – divided the planet between those who were stickler for rules and those who ridiculed the same rules, sanity has finally been restored. In what, arguably, was the only instance when the ire towards England had nothing to do with Brexit (although people lambasted it by citing the multicultural mix of the team led by an Irishman); the contest was one that will be etched in the memories for a lifetime. Despite bringing together the island (with the exception of the Scottish) for one last time before a likely no-deal Brexit sends people once again into a tizzy, the narrative matters for the first-time World Cup winners. Can they solidify their claim as the no.1 team in the world? History suggests that most teams flatter to deceive in the aftermath of a colossal victory like the World Cup. Maybe an Ashes series victory would help settle the matter. England, whether they like it or not, is cricket’s newest villain.

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tribute to the World Cup final notwithstanding, it is what lies ahead in the foreseeable future that should excite one and all. The introduction of the Test Championship is being touted as a revolutionary step for cricket (less so, the display of names and numbers behind the jersey). However, would it live up to its hype or is it just another hoodwink by the ICC over cricket’s unassuming devotees?

There have been endless debates about who is the better batsman – Kohli or Smith - but to no avail.

Perhaps the answer lies in recognizing that they are more than just men – they are smart and efficient AI machines.

Before one questions the wisdom of equating hard-working sportspersons with AI-efficiency, it would be poignant to reflect on what makes them more humane than we would

otherwise give them credit for.

Lastly, in the most predictable script ever made in the poorly directed ‘Search for Team India’s Next Coach’, Ravi Shastri has had the last laugh. But will he have the lasting impact on a system that is increasingly turning into an unprofessional setup where achievements and philosophy matter less than self-adulation and prophecies? These aspects are worth addressing because what makes the sport tick are its cricketers and coaches and most importantly the evolution of the sport itself.

Cricket is perhaps the only sport that could simultaneously embrace the idea of a two-year long league format and play two consecutive World Cups in a format that is detrimental to the success of the former.

The ICC World Test Championship: Survivability in Testing Times Cricket is perhaps the only sport that could simultaneously embrace the idea of a two-year long league format and play two consecutive World Cups in a format that is detrimental to the success of the former. While a novel idea, the ICC World Test Championship is fraught with flaws and looks destined to reduce, rather than increase, the appetite of the average cricket fan. Without doubt, the push for a league-based format in Test cricket is revolutionary in many ways.

It adds to the relevancy of cricket’s oldest format at a time when an overdose of T20 franchise cricket attracts eyeballs, moneyball and winner-takes-all cash bounties. By adding context to every bilateral test series, the ICC has sought SEASONAL MAGAZINE

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to replicate the success of the very best sporting leagues based on the points system. In a way, it summons order into an otherwise wildly organized cricket format in which most fans (at least the lazier lot) have given up watching.

However, the race for the Test Championship is going to be nestled between two consecutive T20 World Cups – one in Australia in 2020 and the next edition in India in 2021 – which calls into doubt whether the league can sustain itself. To be sure, although the two formats compete for attention, the same set of players doesn’t necessarily participate in both. This would offer room for flexibility, team rotation and infusing fresh blood. However, the choice between winning silverware and garnering points over the course of two years shouldn’t be difficult to make (especially for teams which obviously don’t stand a chance in the Championship).

An even more pressing flaw is how the matches have been arranged – suiting the usual favorites like India, England, Australia – while marginalizing the

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An even more pressing flaw is how the matches have been arranged – suiting the usual favorites like India, England, Australia – while marginalizing the have-nots.

have-nots. It is not surprising if this very logic was used to decide fixtures but it is detrimental to the spread of the game.

As Andy Bull argues, ‘the system the ICC is about to bring in seems so Byzantine that it makes the Constantine’s bureaucracy look straightforward’. As for the format, the 12 Test-playing nations would be split into two groups, one of nine, another of three. In the first of these, the nine teams would each agree to play six series, three home, and three away, every two years. At the end of the two-year cycle, the two top teams will play a final. But the refusal to add

‘promotion’ (for teams in the bottom three ie; outside the league) and ‘relegation’ (of teams that finish in the bottom three in the league) has taken the bite out of the context. While competiveness levels would remain the same (without much incentive for lower rung teams), it is the gimmick of Test cricket’s threat-to-survival that highlights the ongoing negligence of the ICC authorities to the sport’s growth. While seemingly a step to bring parity across formats, the imperfectness of the league stems from how it would be won by a team that won’t even have played all the other contenders.

Kohli and Smith are AI Machines with a Heart There is efficiency. And then there is consistent efficiency. This has come to become the hallmark of two of the most audaciously talented batsmen of modern times. Indian captain Virat Kohli and former Aussie skipper Steve Smith are absolute run machines, which was never in doubt. What makes them stand out

from the rest is the sheer consistency with which they efficiently go about oiling their engines and churning out end products in the form of effortless centuries and breathtaking concentration levels. Despite this, as with every mass-produced good, it tends to erode the value of its individual constituents (here: centuries). But that is only in the eyes of the beholder. In sport, quantity matters and that is why they will remain the envy of their counterparts. However, it is their AI-like craftsmanship that makes each of those knocks mind-bogglingly unique.

Contrary to popular perception, the best batsmen in the world don’t score runs for fun and dominate bowling attacks – they simply improve with every innings they play. While their diminutive characters often mask their stable temperament, Kohli and Smith represent the efficiency of an AI machine. With fresh data and deeper experience, an algorithm-based AI system can progressively move towards efficiency levels hitherto not witnessed in other smart technologies. Similarly the two batsmen are not just capable of feeding in new information to hone their existing skill, they also learn to adapt quicker in lesser time than their peers. Like all

efficient machines, they work with a pattern developed over years of finetuning but are smart enough to know where they are lacking. Mere humans could never attain performance levels of this magnitude; that is what makes the duo smart and efficient machines.

However, there is something inherently human-like about the two that deems the machine-like comparison incomplete.

Kohli has transformed into a leader of men and man-manager; although the lack of international trophies would continue to haunt his legacy. What led to this transformation? Incidentally, he was dismayed at a section of the Indian fans during India’s WC match against Australia who were giving Smith a raw deal and requested them to cut the

While their diminutive characters often mask their stable temperament, Kohli and Smith represent the efficiency of an AI machine.

player some slack. It is easy to brush this off as being something that anybody would have done but it is the personality of the man who did it which earned him the respect of the cricketing community.

Kohli had previously suggested that some of the Australian players were not his ‘friends’ in an outburst that seemed to reinforce the beliefs of many that he was simply a hot-tempered person.

Through his kind and compassionate act towards Smith, Kohli offered us a lesson on how to develop a machine-like resilience and yet remain ethical and principled.

As for Smith, his warrior-like traits came to the fore as he strode onto the field following a short interval after getting hit on the head off a nasty Jofra Archer bouncer in the second Ashes test match.

Having endured boos and jeers from the unruly English fans throughout the World Cup and the ongoing Ashes series; Smith’s body language represented a steely determination to right some historical wrongs on his part. If anything, at the conclusion of this series, Smith should be remembered not for those outstanding centuries or that uncompromising batting technique of his but for how even a runmachine like him can achieve redemption from self-inflicted pain.

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Ravi Shastri’s Prophecy Mistaken for Philosophy As Ravi Shastri was announced as Team India’s cricket coach until the 2021 T20 World Cup, almost no one would have been taken aback by the impending decision. After a disappointing exit at the ICC World Cup in the semi-final stage, Shastri added salt to the wound claiming that the team didn’t deserve criticism after finishing first in the league phase.

While most of Indian cricket’s die-hard supporters would agree that it was just ‘that 45 minute-passage of play’ which cost them the match, it was still a bitter pill to swallow when Shastri fumed with an arrogant streak of defensiveness.

Over the course of the last few months, many have questioned Shastri’s credentials as a coach, having failed to inspire the team to victory in any ICC competition across formats.

For those who did not know or wish to recall their memory, the 57 year old was most remembered for his performance in the 1985 World Championship of Cricket in Australia during which he scored 182 runs and took eight wickets in five matches. More interestingly, he was awarded an Audi 100 sedan for his exploits and was even exempt from SEASONAL MAGAZINE

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heavy import duty by a special order of then PM Rajiv Gandhi. Despite his instant fame, Shastri’s legend was not etched in cricketing folklore through his on-field performances but his thunderous quips as a commentator and TV host. Who can forget the nowfamous line “Dhoni finishes off in style” which endeared him to India’s passionate cricket fans? In spite of such rich memories, Shastri’s connect with fans soon fell by the way side after his rhetorical statements, ad nauseam, about the team’s progress under Kohli’s captaincy and his own mentorship.

Soon after his re-appointment, Shastri thanked his stars and ‘promised to continue the good work from where he and the team left off’. He went on to state that the Test Championship would be the team’s ‘top priority’ along with the two ICC T20 tournaments over the next two years and added that grooming youngsters and strengthening the bench will be a key objective too. When the CAC revealed the selection criteria of Team India’s coach to the public, ‘coaching philosophy’ got the first mention; the other factors were ‘experience of coaching’, ‘achievements in coaching’, ‘communication’ and ‘knowledge of modern coaching tools’.

Out of the five, Shastri’s imprint was felt indelibly in the ‘communication’ parameter having personally backed Mohammed Shami after the pacer suffered from career-threatening injuries and personal difficulties.

While it is important to give credit when due, it is also necessary to call out inconsistencies when glaringly evident. His prophecies and predictions are couched as philosophy, evidenced from his now infamous remark calling the Kohli-led team as the ‘India's best travelling team in last 15 years’. Before his stint with the team, Shastri had no formal coaching experience, which many cite as the main reason why he merely serves as only a ‘yes-man’ to the skipper.

Without coaching achievements to his name, Shastri was precariously chosen for simply ‘having spent two years with the team and his closeness to the working of the dressing room’. To have a philosophy would be to strongly influence the mindset of the team one coaches; Shastri seems to get away with hollow prophecies and flowery rhetoric. If this trend continues, Indian cricket will be heading for their goals without any clear direction.

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H E A L T H

WHY WOULD-BE MOMS SHOULDN'T TOUCH ALCOHOL Drinking alcohol during pregnancy alters genes in infants, says study.

regnant women are advised to stay away from alcohol, according to a new study shows drinking moderate to high levels of alcohol might alter the DNA of their babies. "Our findings may make it easier to test children for prenatal alcohol exposure and enable early diagnosis and intervention that can help improve the children's lives," said lead author Dipak K. Sarkar, a Distinguished Professor and director of the Endocrine Program in the Department of Animal Sciences at Rutgers University-New Brunswick.

drinking may trigger a long-lasting genetic change in adults.

The findings of the study were published in the journal 'Alcoholism: Clinical and Experimental Research'.

Fetal alcohol spectrum disorders can include physical or intellectual disabilities as well as behavioural and learning problems.

An earlier study done by Rutgers University found that binge and heavy SEASONAL MAGAZINE

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In this study, researchers found changes in two genes - POMC, which regulates the stress-response system, and PER2, which influences the body's biological clock; in women who drank moderate to high levels of alcohol during pregnancy and in children who had been exposed to those levels of alcohol in the womb.

Heavy drinking is described as four or

more drinks on at least five occasions in a month whereas moderate drinking in women is about three drinks per occasion.

Fetal alcohol spectrum disorders can include physical or intellectual disabilities as well as behavioural and learning problems. While there is no cure, early intervention treatment services can improve a child's development, according to the U.S. Centers for Disease Control and Prevention.

The study also found that infants exposed to alcohol in the womb - which passes from the mother's blood through the umbilical cord - had increased levels of cortisol, a potentially harmful stress hormone that can suppress the immune system and lead to ongoing health issues.