Indian industry ready to tip the scales; Experimental learning with Nischal’s

Hello,

Change is the only constant, even on company boards.

Vijay Shekhar Sharma has resigned from the Board of the embattled Paytm Payments Bank to enable its reconstitution, with former executives from Central Bank of India, Bank of Baroda, and Punjab & Sind Bank, among others, joining the Board. 

The banking arm will now commence the process of appointing a new chairman.

Meanwhile, Paytm is likely to partner with Axis Bank, HDFC Bank, SBI, and YES Bank to process UPI transactions, Reuters reported. Its users will migrate to an updated UPI handle of the partner bank.

Also, an advisory committee, set up by Paytm parent One97 Communications, is engaging with the company on strengthening compliance and regulatory matters, however, is yet to identify any issue, said former SEBI Chairman M Damodaran.

The fintech's shares hit the upper 5% circuit in the stock market once again.

Elsewhere, the Corporate Affairs Ministry has asked field officers to expedite the inspection of BYJU'S' books. The ministry will decide the further course of action after receiving the report from its regional office.

ICYMI: Lenovo unveiled the world’s first transparent laptop at Mobile World Congress in Barcelona.

And lastly, meet Ishika Jha—a tech prodigy who hails from Haryana, studies in Bhagalpur, Bihar, and has now landed a Rs 83 lakh job offer.

Also, she’s not from IIT, IIM, or NIT.

In today’s newsletter, we will talk about 

• Indian manufacturing one-upping China
• Experimental learning with Nischal’s
• TechSparks Mumbai is 3 days away!

Here’s your trivia for today: Which is the only country to depict humans on its flag as a major design element?

Industry

Indian manufacturing one-upping China

India is positioning itself as a lucrative option for global companies looking to diversify operations by establishing an additional production base outside of China. The China Plus One strategy has become increasingly significant, particularly in light of shifting global dynamics and the uncertainties arising from over-reliance on Chinese manufacturing. 

“Earlier, every part or component for electronics was imported—from cables, wires, plastic coverings, to even batteries. Now, the imports have vastly reduced and these are made locally," says Ashok Rajpal, MD of Ambrane India.

Edging out:

• In 2023, India became the second-largest smartphone-producing country.‘Made in India’ mobile phone shipments crossed the 2-billion cumulative units mark during 2014-2022.
• “Concrete drone ecosystem support, including testing facilities and import exemptions for critical components, is crucial for boosting local value addition,” says Vipul Joshi, CFO of ideaForge.
• India also needs to standardise manufacturing processes, especially in smaller industries, due to which many MSMEs get left out of producing for corporates, says Shaurin Patel, MD at Vexma Technologies. 

Edtech

Experimental learning with Nischal’s

In a world where traditional education often relies on lectures, textbooks, and rote learning, Hyderabad-based Nischal’s Smart Learning Solutions offers a different approach—immersing students in real-life scenarios and empowering them with hands-on experience.

Founded in 2010 by Nischal Narayanam, the company claims to enhance education by providing practical insights into maths and science through its labs and educational solutions.

Hands-on:

• Recently, the central government awarded Nischal’s a utility patent for the world’s first portable micro-scale labs for maths, physics, chemistry, and biology.
• Narayanam claims that each lab costs one-fifth of traditional labs and requires 2 sq ft of area. These portable labs cost Rs 1.5 lakh per subject.
• Nischal’s has partnered with 5,000 schools, of which 80% are government schools, including over 650 schools in Andhra Pradesh, 2,200 schools in Gujarat, and 60 schools in Sikkim.

TechSparks

TechSparks Mumbai is 3 days away!

The second Mumbai edition of TechSparks—India’s most influential startup-tech event—is all set to welcome the finest of India’s technocrats, featuring top leaders across the business and leadership ecosystems. 

Dinesh Karthik, Gaurav Munjal, Harsh Jain, Kaustubh Dhavse, Ahana Gautam, and more have joined the stellar speaker line-up for the second edition of TechSparks Mumbai 2024, scheduled for Feb 29 & Mar 1 at Grand Hyatt Mumbai.

Are you ready?:

• Co-founder and CEO Gaurav Munjal deep dives into what it takes to create more equitable and sustainable learning opportunities for a digitally savvy nation.
• In this age when climate change is a reality, meet Swapna Gupta of Avaana Climate Fund, who invests in technology and innovation-led startups building for climate solutions and sustainability. 
• Behind Dream11’s success is Founder and CEO Harsh Jain. Join him at TechSparks Mumbai to understand how collaboration and teamwork accelerate not only the growth of a business but also an entire startup ecosystem.

News & updates

• Indian at top: Citigroup has hired top JPMorgan investment banker Vis Raghavan to be its new head of banking, a major hire by the US bank which rounds out its top management team. In his new role, Raghavan will run Citi’s investment, corporate and commercial banking operations.
• 12 zeroes: Berkshire Hathaway Inc's shares rose as much as 5.5% in premarket trading on Monday, set to push the market value of Warren Buffett’s conglomerate even closer to $1 trillion, which would make Berkshire the first US company outside of the technology sector to reach such a market capitalisation. 
• AI phone: Deutsche Telekom showcased a futuristic smartphone concept that relies on artificial intelligence rather than apps to handle users' specific needs. The concept will have an app-free user interface developed in collaboration with partners Qualcomm and Brain.

Which is the only country to depict humans on its flag as a major design element?

Answer: Belize.

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