50th GST Council Meeting: Quote by Mr. Bimal Jain, Chair of Indirect tax committee, PHDCCI

Shri Bimal Jain, Chairman of the Indirect Tax Committee, PHDCCI;

The GST Council must take the following important agenda for their consideration in the 50th GST Council Meeting.

• Formation of the GST Appellate Tribunal (GSTAT), is a much-awaited issue, which will streamline GST jurisprudence and help taxpayers to address their grievances of GST litigations. The GST Council should frame rules in this regard and fix a definite timeline for the formation of GSTAT.

• In the wake of fake registrations and fraudulent GST ITC, the GST Council must take more measures to tighten the noose on the same with proper checks & balances and ensure ease of business will not hampered to the genuine and honest taxpayers.

ABP Network appoints Rupali Fernandes as Chief Revenue Officer

New Delhi, July 7, 2023: ABP Network, one of India’s leading media conglomerates, has appointed Rupali Fernandes as its Chief Revenue Officer with immediate effect. A veteran marketing professional, Rupali will be responsible for the organisation’s revenue efforts across ABP Network channels, live events, and digital platforms. She will report to Avinash Pandey, CEO of ABP Network.

Having a distinguished career spanning over two decades, Rupali has worked in various capacities with several prominent organisations such as Matrix Talent Management, HT Media, Disney Star, BAG Network, and The Indian Express. In her most recent role as Head – Brand Partnership at Matrix, she managed brand partnerships and celebrity endorsements for talent across films, music, and sports. She has also worked with influencers for digital associations for short-term engagement across D2C brands.

Speaking about the appointment, Avinash Pandey, CEO of ABP Network, said, “We are thrilled to have Rupali join our ABP Network family. She brings a wealth of experience to our organisation that perfectly aligns with our values and vision. As a key addition to our leadership team, she will play a vital role in shaping our future plans and driving our growth strategy. We eagerly look forward to her valuable contributions, as we continue to innovate and deliver unparalleled value to our audiences and partners.”

“It is an honour for me to join ABP Network, a leading media company, where I am looking forward to contributing to its next phase of growth and transformation,” said Rupali Fernandes, Chief Revenue Officer, ABP Network.

Rupali has Graduated from Mumbai University and has done Business Management in Marketing from SVKM’s Narsee Monjee Institute of Management Studies (NMIMS).

The World We Want’s Natasha Mudhar Joins V20 India Summit, Supporting the Call for ValuesBased Solutions within the G20 Framework

LONDON, Thursday, 6th July 2023: Natasha Mudhar, an award-winning business leader, impact investor, global communication strategist, filmmaker, and architect of initiatives for the Sustainable Development Goals (SDGs), has been invited to speak at the prestigious V20 India Summit on Saturday, 8th July in New Delhi. The summit, organized under the theme “LEAD with Values” by the global community of Values 20 (V20) experts and practitioners, aims to provide evidence-based, human-centered policy solutions to the Group of Twenty (G20) by deepening the understanding of values in public policy.

Natasha Mudhar, Founder of The World We Want and a recognized strategic advisor and actionoriented implementer, will be participating in the highly anticipated panel discussion titled “Sustainability Starts Within: A Values-Based LiFE.” She will be joining esteemed individuals such as Pratap Raju, Founding Partner of Climate Collective, Ratnesh Jha, Executive Director of UN Global Compact, India, and Ann Rosenberg, Senior Sustainability and Climate Advisor at EY Sustainability, in sharing valuable insights and fostering discussions on sustainability and values-based action at the V20 India Summit.

This session will explore key themes of personal responsibility, mindset shift, sustainable consumption, social equity, community engagement, personal well-being, and connection to nature. Natasha, with her diverse background and expertise operating at the intersection of corporate, entertainment, and sustainability sectors, will share her insights on how personal values and lifestyle choices can drive positive environmental change.

Natasha Mudhar is widely recognized for her contributions to social impact initiatives and has advised governments such as the US, UAE, and India, as well as global multilateral organizations like the UN. Her accomplishments include spearheading global communications and advocacy campaigns such as the #WhatIReallyReallyWant project, popularizing the SDGs among 1.3+ billion people in India as India Director of the UN’s Global Goals campaign, and facilitating summits and ventures to address women’s health and empowerment issues.

As the Founder of The World We Want, a global impact platform, Natasha utilizes storytelling, collaborations, communications, celebrity culture, and creativity to empower and motivate individuals to bridge the gap between their awareness of issues and taking action to drive meaningful change with urgency. She is also the Global Chief Executive of Sterling Global, an independent business strategy and integrated communications consultancy.

“I am honored to join the esteemed panel at the V20 India Summit and share insights on sustainability and values-based action,” said Natasha Mudhar, Founder of The World We Want. “Through strategic integration of communication, collaboration, creativity, and the power of popular culture, we can bridge the gap between awareness and action, driving tangible progress towards the SDGs. I believe that by empowering individuals and inspiring collective efforts, we can create a more sustainable future for all.”

The V20 India Summit, held on 8th July, marks the culmination of the year-long efforts by the global network of Values 20 members to promote the contribution of values-based policy solutions within the G20 presidency. Under the theme ‘Vasudhaiva Kutumbakam: One Earth-One FamilyOne Future,’ India, as the G20 Presidency, emphasizes the integral role of values in addressing global challenges and benefiting the planet and its inhabitants.

Jazbaa 2.0: A Festival of Youth Empowerment through skilling and education to be held in Jaipur

Announcement to hosting Jazba 2.0, the youth empowerment festival in Jaipur has been made by IIEC with Linux Word. Jazbaa is an initiative that will provide free education in engineering and technology to youth from less privileged backgrounds. This will give them the opportunity to gain the knowledge and skills necessary to pursue successful engineering careers. This is without worrying about costs or other financial barriers. The announcement was made by Vimal Daga, ace Technology Guru and Founder, of M( IIEC ) Indian Innovation and Entrepreneurship and Preeti Daga, Entrepreneur, Lifestyle and Education Coach.

IIEC works towards bridging the gap between education and the workplace, Informed Preeti Daga. These students will receive the necessary experience and confidence to leverage their knowledge and potential, by developing technology, apps and products that solve crucial problems in society.

Informing about Jazbaa Preeti Daga informed, “For being part of Jazbaa youth can connect with us through our website and social media pages and join free of cost thereafter, informed Preeti Daga. Jazbaa 2.0 will give youth a platform to express themselves through forums, online communities, and virtual events. They can also take part in mentorship programs and access resources that will help them build their professional network and skill set”.

So far 5 lakh students have been trained by IIEC and taken up free technical education. Furthermore, the Jazba platform helps to connect these students to potential employers and investors who want to fund and nurture young talent.

During Jazbaa we organize summer workshops where students are taught all the latest technologies in 45 days free of cost. Students study for 8 hours daily and during the time we do brain storming, team building activities, practical labs are involved and we teach all the latest technologies to the students. Jazba is doing commendable work towards achieving its vision of “Making India Future Ready” by empowering youth to solve various challenges, develop self-employment. The organization aims to help students start startups by shaping their creations.

During their last time with Jazbaa 2.0 students launched various innovative projects for various social welfare projects such as creating technology to detect diseases in plants and choosing the right amount of pesticides. Those projects were pitched before industry experts and also got investors and sponsors which was very encouraging for the youth. We are moving forward with our resolution of “Future Ready India” and more and more students from Rajasthan and all over India are taking advantage of this online and offline initiative.

Topsoe Accelerates Global Green Hydrogen Economy with AVEVA Software

Mumbai, India, July 06, 2023– AVEVA, a global leader in industrial software, driving digital transformation and sustainability, has been selected by Topsoe, a leader in carbon emission reduction technologies, helping fast-track development of the decarbonization solutions needed for the production green hydrogen and other carbon neutral fuels. Topsoe will use AVEVA Process Simulation to model its Solid Oxide Electrolyzer Cells (SOECs) with a view to optimizing their design and developing their control strategy.

To achieve global NetZero targets, a rapid decarbonization of all industries is essential, however not all of them can be easily electrified. These industries are often referred to as the hard-to-abate sectors and include heavy transportation such as shipping and aviation but also carbon intensive industries like steel manufacturing and petrochemical production. The challenge is finding and replacing fossil fuels with carbon-free alternatives. This is where Topsoe can help, and by using Topsoe’shighly efficient SOEC based electrolyzers, it’s possible to produce the green hydrogen needed to decarbonize many of these carbon intensive industries. Time is of the essence, and with its flexibility, open modeling, and ease of use, AVEVA Process Simulation is helping accelerate the energy transition by enabling Topsoe’s engineers to design and optimize their electrolyzers with increased speed and efficiency.

Poul Georg Moses, Chief Technology Officer in Power-to-X at Topsoe, said:”Green hydrogen is essential for decarbonizing industries that cannot be easily electrified, and there is no time to waste if we’re to succeed in achieving global NetZero targets. Topsoe is already leading the way by building the world’s largest SOEC electrolyzer manufacturing facility, enabling us to deliver green hydrogen technologies Power-to-X solutions industrial scale. The AVEVA Process Simulation software is a game-changer for us, with its dynamic simulations we’re removing bottlenecks and speeding up the development of our solutions.”

Tobias Scheele, Senior Vice President of Products at AVEVA, said:“We are pleased to expand our deep relationship with Topsoe as the Power-to-X industry develops. The successful energy transition will depend on how quickly industries can deliver low-carbon solutions at scale. We designed AVEVA Process Simulation to accelerate the engineering cycle, so innovations can be executed fast and deliver immediate carbon reductions.”

Topsoe is a long-term AVEVA customer, using AVEVA PRO/II Simulation (formerly PRO/II) and AVEVA Dynamic Simulation (formerly DYNSIM)for decades. The Denmark-headquartered company is now adopting AVEVA Process Simulationso its engineers can design sustainable solutions as the global push towards net-zero emissions spurs demand for green energy products.

Lisa Wee, Global Head of Sustainability at AVEVA, said:“AVEVAis committed to partnering with our customers to deliver a more sustainable and equitable future for all through technology. We recognize that the choices and actions taken in this decade by global industry will have impacts now and for generations to come. We are excited to be able to help accelerate the energy transition through the combination of our software andTopsoe’s innovative technology.”

As of 2021, global electrolyzer manufacturing capacity is insufficient to meet net-zero requirements, according to the International Energy Agency. At present alkaline and proton exchange membraneelectrolyzers account for the majority of production, with less than 0.1% of today’s hydrogen produced through electrolysis. As renewable energy becomes increasingly available at lower costs, Topsoe’s ultra-high-efficiency SOEC electrolyzers help maximize the delivery of clean hydrogen: the units deliver up to 30% more hydrogen from the same electricity volume at a 30% lower cost.

CII Karnataka announces its Thrust areas for growth & development in 2023-24

06 July 2023 Bengaluru: CII Karnataka hosted a Media Interaction today with Mr Vijaykrishnan Venkatesan, Chairman, CII Karnataka State Council & Managing Director, Kennametal India Ltd and Mr Venu Nuguri, Vice Chairman, CII Karnataka State Council and Managing Director & CEO, Hitachi Energy India Ltd, the elected leadership for CII Karnataka State 2023-24 addressing the media captains. During the interaction, the leadership highlighted the key focus areas for the State of Karnataka– being Growth, Inclusiveness, Globalisation & Building Trust. CII Karnataka will be taking forward the initiatives for the year 2023-24 aligned to the theme “Towards a Competitive and Sustainable Karnataka@100: Growth, Inclusiveness, Globalisation, Building Trust” through a strategy on Beyond Bengaluru towards enhancing competitiveness, promoting inclusiveness & facilitating sectoral growth initiatives. CII being the B20 Secretariat, has been hosting a lot of critical interventions and engagements in Karnataka and shall continue to contribute to the larger agenda of being a global powerhouse.

“As a part of our agenda this year, CII has been working closely with the Karnataka Government on key growth areas such as, ease of doing business, taxation policies, adoption of clean energy and alternative fuels, skilling and up-skilling initiatives as well as driving industrial growth beyond Bengaluru and development of Tier-2 and Tier-3 cities”, said Mr Vijaykrishnan Venkatesan. Highlighting the Vision for the state, Mr Vijaykrishnan mentioned, “Focus on Beyond Bengaluru towards enhancing competitiveness, promoting inclusiveness & facilitating sectoral growth initiatives for the State of Karnataka”. Further elaborating on the MSME focussed initiatives, Mr Vijaykrishnan also said, “CII Karnataka has been extensively promoting growth and development for MSMEs as well as converging on policy related interventions as MSME outreach has been a key focus area for the state.” He also mentioned about the persistent focus on Sustainability, Manufacturing & Operational Excellence, Emerging Sectors and Entrepreneurships & Startups and create an enabling ecosystem for the industries to thrive in the state of Karnataka especially through conducive policy frameworks. The state has also initiated taskforces to deliberate on sectoral interventions under Tourism and Hospitality and Healthcare, considering the growth potential of the state.

As part of the larger exercise commenced by the CII India@75 Foundation at the National level, CII Karnataka had undertaken a visioning exercise at the State level to evolve a State Vision Document i.e., Karnataka@100 which encapsulates the aspirations of stakeholders to create a shared vision for the State. The tagline for the National vision has been – Morally, Economically & Technologically Advanced (META) India by 2047. CII Karnataka in collaboration with IIMB worked to curate this vision document in consultation with multiple stakeholders across the state. Karnataka@100 – A Document for 2047 outlines the vision for the state’s growth in the next 25 years – focussing on Governance, Investment, Participation of stakeholders, Innovation, and Industry 4.0.

The membership engagement plans highlighted enhancing competitiveness and enabling growth for the industry. This would be further supported through engagements with CII’s specialised services delivered by its 10 Centres of Excellence, international market development initiatives and exposing member companies to industry best and good practises on Environmental, Social and Governance (ESG). Speaking to media persons, Mr Venu Nuguri said, “Emerging Sectors has been initiated as a new engagement plan, considering the membership strength of Karnataka, to catalyse the growth of the new age sectors like Aerospace & Defence, Electric Vehicles, ESDM etc. The Industry Institute Interaction, a new initiative from the last year’s agenda will be approached from an angle of building greater engagement between industry and academia to equip the youth with future-ready work and business skills emphasis. Considering the membership strength of institutes contributing to 11% of the overall membership, CII Karnataka will pursue this engagement effectively, contouring the nuances of upskilling and reskilling.

CII has been working with the Government of Karnataka on areas like Labour Codes, through IR experts, lobbying constantly for an effective and smooth implementation, Minimum wages, and other aspects related to labour relations. Decriminalisation under various acts will be another focus area under Policy advocacy for the state as this being a national agenda, to decriminalise minor offences and enhance ease of doing business. Skilling being a thrust area for the Government both at the Central and State levels, will be focussed along with the Industry Institute Interactions. CII proactively engages with various stakeholders including international consulates for business opportunities and initiatives like catalysing job creation through career fairs & internships and enhance sectoral competitiveness through focussed interventions such as the CII Indian Women Network and CII Young Indians.

Bluesphere Ventures Announces Agreement to Acquire Climate Carbon

New York, New York, July 6, 2023 – Bluesphere Ventures, a pioneering venture studio specializing in incubating environmental fintech ventures, today announced its definitive agreement to acquire Climate Carbon, Canada’s leading broker of carbon and renewable energy credits. This acquisition is expected to reshape the industry and accelerate the global adoption of sustainable practices.

Bluesphere’s Chairman, Shidan Gouran, expressed his excitement for the new venture. “Our decision to acquire Climate Carbon was primarily driven by their unmatched market intelligence,” Gouran stated. “Danny Takhar, along with his team of analysts, stands out as the most informed brokerage group in the industry. As clients of Climate Carbon, we have reaped considerable benefits from Danny and his team’s proficiency in price discovery and their expertise in analyzing offset projects. His deep understanding of the environmental credit sector is a significant asset, and we are thrilled to welcome him and his team.”

Danny Takhar, Climate Carbon’s principal, shared his enthusiasm for the acquisition. “With Bluesphere’s resources and commitment to sustainability, I am confident we can enhance our impact,” said Takhar. “This merger will propel us to new heights, enhancing carbon credit accessibility and promoting sustainability globally.”

Following the acquisition, the Bluesphere Carbon Exchange will be assimilated into Climate Carbon and rebranded under the Climate Carbon brand. This move is a crucial step in Bluesphere’s long-term strategy.

Eddie Soleymani, Bluesphere’s CEO, explained the reasoning behind this strategy. “The rebranding of the Bluesphere Carbon Exchange under the Climate Carbon name reflects our commitment to integrating and leveraging the best aspects of both entities. This acquisition represents more than a simple merger; it’s about creating a unified platform that combines the robust technologies and market reach of both companies, thereby propelling a new era of sustainable environmental credit trading.”

The deal is anticipated to close in the third quarter of 2023.

Investors now have responsibility to consider ESG as global temps hit record high

July 5 2023

As global temperatures hit a record high, every investor now has a responsibility to consider environmental, social and governance (ESG) investments, says the CEO of one of the world’s largest independent financial advisory, asset management and fintech organisations.

The comments from Nigel Green of deVere Group come as it is revealed that Monday was the world’s hottest day on record, exceeding an average of 17 degrees Celsius (62.6 degrees Fahrenheit) for the first time, according to official measurements taken on Tuesday by US meteorologists.

“This is not a milestone we should be celebrating, it’s a death sentence for people and ecosystems,” said Friederike Otto, a senior lecturer at the Grantham Institute for Climate Change and the Environment.

The deVere CEO says: “The new record high shines a spotlight on the extreme temperatures engulfing the northern hemisphere this summer, and underscores the lack of global progress on tackling climate change – which is the biggest critical issue of our time.

“Monday, 3 July 2023, the hottest day ever recorded globally, must act as a wake-up call that more must urgently be done to battle the worst effect of human-driven environmental issues.

“As such, I believe that every investor now has a responsibility to consider ESG investments.”

But the enormously positive environmental and social impact you can have with ESG investments is not the only reason why you should consider them as part of your portfolio.

“Numerous studies have demonstrated that companies with strong ESG practices tend to outperform their peers over the long term.

“By incorporating ESG investments, investors have the opportunity to participate in the growth of companies that are well-positioned to navigate risks, capitalise on emerging opportunities, and drive sustainable innovation,” notes Nigel Green.

ESG factors provide valuable insights into a company’s resilience and risk management practices.

He continues: “By considering environmental risks, such as climate change and resource scarcity, social risks related to labour practices and community engagement, and governance risks such as board diversity and transparency, you can better assess the long-term viability of investments and reduce exposure to potential risks.”

The deVere CEO goes on to add: “The global regulatory landscape is evolving. Investors who proactively integrate ESG investments into their portfolios can navigate regulatory changes more effectively and position themselves for future market shifts.

“Plus, as ESG considerations become mainstream, investments in companies with strong ESG profiles are likely to attract more attention from institutional and individual investors.

“All of the reasons and all the evidence suggest that ESG-focused investors can achieve both profitability and positive impact.”

deVere Group practices what it preaches. In 2021, it became one of 18 founding signatories of the UN-backed Net Zero initiative, the international alliance of finance powerhouses that will help accelerate the transition to a net-zero financial system.

As a global organisation, it recognises the transformative potential of ESG investments and is committed to helping investors integrate these strategies into their portfolios.

With a team of experienced professionals and a comprehensive suite of ESG-focused investment solutions, deVere provides clients with tailored advice and cutting-edge research to optimise their financial goals while aligning their investments with their values.

“The hottest day ever recorded globally tells investors now is the time to consider putting your money to work for both profits and positive change. If not now, when?” concludes the deVere Group CEO.

Fawry’ and ‘CYBERX’ sign a MoU to expand awareness of cybersecurity in Egypt

‘Fawry’ and ‘CYBERX’ sign a memorandum of understanding to expand awareness of cybersecurity in Egypt

‘Fawry’ and ‘CYBERX’ collaborate to raise awareness of security threats and reduce cyber attacks

Cairo, Egypt – 5th July 2023 – ‘Fawry’, the leading company in electronic payment solutions and banking technology, signed a cooperation protocol with the Saudi company ‘CYBERX’ – the leading Arab platform that raises cyber awareness in the Arabic language – with the aim of raising awareness of the concept of cybersecurity and the basic principles of this field. The cooperation aims to combat security threats and reduce cyber-attacks, especially with global increase in digital fraud cases globally.

As ‘Fawry’ and ‘CYBERX’ believe that the first line of defense against common cyberattacks, electronic threats and malicious cyber attachments is the human factor. CyberX strives to provide cybersecurity awareness programs and comprehensive content to build awareness and enrich the community with powerful tools to learn to be cautious against the risks of online fraud and cybersecurity attacks.

Moreover, ‘Fawry’ has taken a strong interest in the goals of ‘CYBERX’ and the ability to simplify concepts and principles of information security and cybersecurity, which build integrated lines of defense against fraud in the Arab world.

In addition to that, ‘Fawry’ is strongly committed to the Egyptian information security and cybersecurity market by regularly spreading awareness of cybersecurity risks and what it contains of breaches and threats that represent a serious burden on customer data, and how to confront any threat or breach.

‘Fawry’, through its position in the Egyptian market as the first choice in the electronic payment market, is also interested in upgrading the lines of security defense, from merchants to customers.

It is noteworthy that ‘CYBERX’ provides cybersecurity awareness campaigns, skills development, and training services in the field of cybersecurity, in addition to several other solutions, including phishing.

Tareq Bashir, Head of Risk and Compliance Department at ‘Fawry’, said: “Fawry is pleased to cooperate with the leading Arab company ‘CYBERX’ in the field of cybersecurity awareness. He added:” that interest in information security and cybersecurity is no longer a luxury for the corporate community, institutions, and the state in general, especially with the expansion of digitization of all sectors, and the trend towards building smart cities.”

He stressed that ‘Fawry’ will work side by side with ‘CYBERX’ to raise awareness in the field of information and cybersecurity and provide an appropriate environment to reduce breaches and security threats.

Mohannad AlKalash, Founder of ‘CYBERX’, said: “We firmly believe that cybersecurity is much more than policies and technology, it is a culture that blossoms within organizations, and awareness is its fuel.”

He added: “The partnership between ‘Fawry’ and ‘CyberX’ represents a milestone towards achieving our goal of accelerating secure digital transformation in the Arab world and in the Egyptian market. This cooperation will enable us to benefit from our expertise and provide unparalleled awareness of cybersecurity to millions of consumers, retailers and employees, thus enhancing trust and security in this digital world.”