Bajrang Punia Handed Four-Year Ban Over Doping Non-Compliance
Bajrang Punia, India’s celebrated Olympic bronze medallist wrestler, has been dealt a major blow with a four-year suspension by the National Anti-Doping Agency (NADA). The suspension stems from his refusal to provide a urine sample during national team selection trials on March 10, 2024. Punia was initially placed under suspension on April 23, 2024, but he contested the decision, resulting in a temporary lift of the ban on May 31, 2024. Following an extended legal and disciplinary review process, NADA reinstated the suspension on November 27, 2024. The ban, effective until April 22, 2028, not only sidelines Punia from competitive wrestling but also bars him from pursuing coaching opportunities internationally during this period. This decision marks a significant turning point in Punia’s illustrious career and raises questions about his future involvement in the sport.
Alphabet Secures CCI Approval for Strategic Stake in Flipkart
Alphabet Inc.’s subsidiary, Shoreline International Holdings LLC, has received approval from the Competition Commission of India (CCI) to acquire a stake in Flipkart Pvt Ltd, the Walmart-owned e-commerce giant. The nod, announced on November 27, 2024, follows Alphabet’s earlier $350 million investment in Flipkart during its funding round in May 2024. This funding round raised nearly $1 billion, elevating Flipkart’s valuation to an estimated $35-36 billion. Alphabet’s strategic investment aims to reinforce Flipkart’s position in India’s competitive e-commerce landscape. The funds are expected to drive advancements in technology, logistics infrastructure, and customer engagement, further solidifying Flipkart’s market leadership amidst intensifying competition.
GST Revenue from Health and Life Insurance Hits ₹16,398 Crore in FY24
The Union Government collected a record ₹16,398 crore in GST from health and life insurance services in FY24, a staggering 680% increase from ₹2,101 crore in 2019-20, despite a slight dip from ₹16,770 crore in FY23. Currently taxed at 18%, health insurance services enjoy exemptions for schemes benefiting economically weaker sections and differently-abled individuals. This growth highlights the expanding insurance market in India, while the upcoming GST Council meeting on December 21, 2024, is expected to review these rates, potentially paving the way for reductions to boost affordability and accessibility.
Green Hydrogen Milestone: Amara Raja Infra’s Breakthrough in Leh
Amara Raja Infra, a key arm of the $2 billion Amara Raja Group, has launched India’s first green hydrogen fueling station in Leh, Ladakh, for NTPC Ltd. The facility, inaugurated by Union Minister Manohar Lal, can produce 80 kg of green hydrogen daily to power five hydrogen fuel cell buses, enabling zero-emission transport in the high-altitude region. This milestone aligns with India’s National Hydrogen Energy Mission, advancing the adoption of sustainable fuel alternatives and paving the way for expanded green hydrogen mobility and storage solutions across the nation.
India Joins Riyadh Design Law Treaty to Boost Global Design Protection
India officially signed the Riyadh Design Law Treaty (DLT) on November 27, 2024, a landmark agreement under the World Intellectual Property Organization (WIPO) aimed at simplifying and standardizing industrial design protection globally. The treaty introduces provisions like flexible time limits, reinstatement of lost rights, and the ability to file multiple designs in one application, reducing costs and enhancing accessibility for creators. By joining the DLT, India reinforces its intellectual property framework, supporting SMEs, startups, and independent designers while fostering innovation and aligning with international best practices.
TM2Space Launches India’s First Space-Based AI Lab, MOI-TD
Hyderabad-based space tech company TakeMe2Space (TM2Space) has unveiled My Orbital Infrastructure – Technology Demonstrator (MOI-TD), India’s first AI lab in space. Scheduled for launch aboard ISRO’s PSLV C60 rocket in December 2024, MOI-TD will enable real-time data processing in orbit, reducing the costs and delays of transmitting large datasets to Earth. The lab allows users to upload AI models for applications like environmental monitoring, deforestation tracking, maritime observation, and greenhouse gas analysis. This groundbreaking initiative marks a significant leap toward democratizing space research and pioneering space-based data centers.