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The India-Russia leaders’ summit and ministerial meetings in New Delhi on Dec. 6, scored big. Differences were set aside to make transformative progress in defence, fintech and connectivity among other sectors, commencing a new era of India-Russia relations fit for the 21st century.
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In June this year, the Japan Aerospace Exploration Agency collaborated with Honda Research to build an energy system for surface mobility on the moon. SpaceX and Mitsubishi Heavy Industries, Tesla and Mitsubishi Motors have similar alliances, reflecting the increased participation of the automotive sector in the space economy. Tokyo wants its biggest export, automobiles, to pick up stakes in this space. India should have a similar ambition. The May 2020 space reforms recognise the significance of commercialising the space sector. But now is the time for long-term R&D investments in the domestic auto sector, to help India step into this play.
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As the private or autonomous space industry becomes more developed, an interesting phenomena is occurring. The public sector which runs space programmes has lagged behind, but also profits from the recent success of private space companies are limited to direct stakeholders. After a decade of private investment, it is worth assessing why countries like the U.S., Russia, China and India have pursued independence from government entities in space over the last decade.
Courtesy: QiO Technologies
UK-Pune based QiO Technologies is an industrial software analytics company that focuses on digital transformation. QiO differentiated itself by complying with and certifying its products with European GDPR standards, creating trust and a wider client-base. It offers a unique subscription plan based on investment returns, making it an attractive option for manufacturing MSMEs.
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A ransomware attack recently targeted Kaseya, a software services company in the U.S., for $70 million, incapacitating hundreds of its clients globally. There is an increasing incidence of such attacks, with perpetrators targeting government agencies and high-tech companies, leading to considerable economic losses. How can governments mitigate these threats and attribute responsibility to those accountable?
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For years, Western countries have used sanctions as a means of economic warfare against their adversaries. Now, China and Russia are utilising the same tactic against the West. The United Nations Security Council is paralysed by differences between the five permanent members, leaving the tools of unilateral sanctions and counter-sanctions to proliferate at the cost of UN-approved multilateral sanctions.
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Gateway House and the Embassy of Italy in New Delhi co-hosted the India-Italy Round Table on Energy Transitions. Indian and Italian companies involved across in the energy ecosystem came together to discuss potential collaborations. India is energy dependent and Italy has an innovative energy industry. The two countries can partner on new technologies, trade, financing mechanisms and to update regulations for a new energy era.
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With the U.S.-led Artemis Accords gathering momentum, and China and Russia joining hands, space exploration is becoming economically important. Countries increasingly want to participate in the space exploration economy and are partnering with space superpowers that have aligned geopolitical and geoeconomic interests. India, too, must do the same, says Dr. Chaitanya Giri, Fellow, Space and Ocean Studies Programme.
Courtesy: Gateway House
Big Tech is powerful and its profits are growing - by 105% over the last year. It dominates economies. This raises concerns about data protection and privacy, anti-trust, fintech and the specific role of intermediaries. India is leading the way on fintech, but is behind several countries and institutions on digital rules. It is important to establish laws and rules to govern technology – whether domestic or through multilateral bodies – with the aim to strike the right balance between innovation and regulation.
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Schneider Electric’s domain expertise in hardware and software has helped it create a proprietary and comprehensive suite of Industry 4.0 solutions. The company is now deploying these in all of its eight manufacturing facilities spread across India with favourable results: 30% reduction in energy costs, 10% improvement in mean time to repair and 5% improvement in logistics. Schneider intends to make these Lighthouse network facilities, thereby setting the standard for other manufacturing MNCs in India.