OPINION, P2 IDEA EXCHANGE ‘We did something bigger than winning a medal, we created a legacy. Will be connected to India my whole life’ Page 8 No thanks to the government FE LINES A standardised size chart for clothing will soon help Indians find the right fit Page 7 SJOERD MARIJNE ACROSS THE AISLE , P CHIDAMBARAM Made to measure LEISURE Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM VOL. XX NO. 44 HERITAGE WALK NEW DELHI SUNDAY, SEPTEMBER 5, 2021, 32 PAGES, `10 (PATNA `10, RAIPUR `10) P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , WHAT'S INSIDE ■ SPOTLIGHT, P5 The classroom is buzzing The pandemic steered the Indian education system in a completely new, digital direction last year, giving edtech platforms a huge boost. Today, with top-dollar funding pouring in, the sector is witnessing its biggest boom yet ■ WORDS WORTH, P4 The Raj, revisited A fresh perspective of the British era that rejects many existing biases ODD & EVEN FINANCIAL EXPRESS ON SUNDAY ROHNIT PHORE C H A N D I G A R H , C H E N N A I , ● Top 5 sectors to be most hit by global warming account for over 80% of GDP SAVE THE PLANET FE BUREAU New Delhi, September 4 of installed renewable energy capacity by 2030, up from current WITH THE IMPACT of climate change getting visible through erratic weather patterns, analysts have pointed out that unmitigated global warming cancausemonetarylossestothe tune of a massive $6 trillion by 2050 to India. On the other hand,ifthecurrenttrendofsubstantial investments in emission-reduction efforts are sustained, it could yield economic gains of almost $11 trillion for thecountry’seconomyby2070. India’s economy is highly exposed to the damage caused by climate change. Over the next 50 years, the top five industries likely to be most impacted by climate-related lossesareservices,manufacturing, retail and tourism, constructionandtransport—these 450 The Income Tax Department on Saturday said it has issued over `67,400 crore worth refunds in five months of the current fiscal. “CBDT issues refunds of over `67,401 crore to more than 23.99 lakh taxpayers between 1st April, 2021 to 30th August, 2021,” the I-T department tweeted. Of this, income tax refunds of `16,373 crore have been issued in over 22.61 lakh cases and corporate tax refunds of `51,029 crore have been issued in over 1.37 lakh cases. K O L K A T A , L U C K N O W , M U M B A I , N E W D E L H I , P U N E If the 46 GW of hydroelectric power plants is included, 38.5% of India’s installed power generation capacity is currently based on clean renewable energy sources 100 GW currently account for more than80%ofthecountry’sGDP. Climatechangeisalsoexpected to reduce the reliability of seasonal agricultural output, impacting revenue from the sectorwhichaccountsforabout 16% of the country’s GDP. A report on climate action and economic future recently released by Deloitte pointed out that if an emission pathway is pursued where global average warming increases by more than 3°C by 2070, it “wouldleadtoeconomiclosses of more than $6 trillion in present value terms by 2050 — or approximately 6% of India’s GDP in 2050 alone”. Continued on Page 11 RISING DEMAND POWER MINISTER RK Singh Kolkata Hyderabad 6 33 42 Delhi NCR Bangalore Source: JLL India optionstomeetdigitalgrowth. Home-grown video and gaming platforms, in the midst of robust user growth, are also fuelling the demand, he explained.JLL India chief economist Samantak Das said global investors and data centre players have increased their commitment during the last six months, announcing joint ventures with operators to set up sites. Continued on Page 11 Ramp up coal supply to power plants: Govt PRESS TRUST OF INDIA New Delhi, September 4 61 62 India data centre capacity city-wise (MW) Chennai Mumbai expected to double its capacity to 1,008 MW by 2023 as Covid acceleratedIndia’sdigitaltransformation, with consumers relying more on digital services for their professional and personal needs. This has forced businesses to scale up theirdigital infrastructure,generating a strongdemandfordatacentres. Around 508 MW of supply is expected to be added between H2 2021 and 2023. JLL India’s head (data centre advisory)RachitMohanpointed out that the demand momentum, which picked up pace in 2020, continued to grow unabated. The industry witnessed 46.4 MW (mega watt) absorption during H1 2021 — equivalent to 90% of supply additionduringtheperiod(January-June 2021), indicating robust absorption growth. Demand has been expanding rapidly due to increasing digital usage emerging from distributed workforce, growing data securityconcerns and business disruptions. Banking and financial services are adopting hybrid INDIA SHINES IN TOKYO (Left) Shooters Manish Narwal and Singhraj Adhana pose with their gold and silver medals, respectively; shuttler Pramod Bhagat flaunts his gold medal after historic win in the men's singles SL3 class, in Tokyo on Saturday PHOTOS: PTI/TWITTER Govt expects that by 2050, 80-85% of India’s overall power capacity will come from renewables GW THE DATA CENTRE industry is I-T refunds worth over `67,400 cr issued in 5 months of this fiscal K O C H I , The country has already reduced CO2 emission intensity by 28% over 2005 levels India plans to have 255 RISHI RANJAN KALA New Delhi, September 4 JAPAN'S OUTGOING Prime Minister Yoshihide Suga will back the popular minister in charge of the nation's vaccination rollout, Taro Kono, to succeed him, Nippon News Network reported on Saturday. Political manoeuvring was heating up among potential candidates and ruling party grandees on Saturday, a day after Suga's surprise announcement that he was stepping down, ending a one-year term as PM that has seen his support crumble as COVID-19 surged. Hours after Suga's announcement, broadcaster TBS reported, without citing sources, that Kono intended to run for head of the Liberal Democratic Party. Kono told reporters that he wanted to consult party colleagues before deciding. H Y D E R A B A D , India may see loss of $6 trn by 2050 Domestic data centre sector to add 508 MW capacity by 2023 Japan PM Suga to back vaccine minister Kono to succeed him READ TO LEAD CLIMATE CHANGE SCALING UP QuickPicks What does it mean to get the prestigious UNESCO World Heritage tag? Page 6 has asked to ramp up coal supply to thermal power projects in view of rising demand of electricity in the country, an official release said on Saturday.A core management team (CMT) has been constituted to closelymonitorthe coal stocks at powerplants and powersecretary Alok Kumar has been doing daily review of the situation aswell as action taken by the team, the release mentioned. Coal subsidiaries of Coal India Ltd (CIL) were advisedtoadheretothetargets given to them for September and make all out efforts to ramp up coal production so as to gradually build up coal stocksatthermalpowerplants. The minister asked CIL to reviewcoal companywise rake loading on a daily basis and ensure that it is commensurate with the rake loading target for the month of September. It was advised to frame a policy for Gencos having captive coal blocks, that Gencos must ensure at least 85% of targeted coal production from captive blocks. TOKYO PARALYMPICS Shooter Narwal, shuttler Bhagat scoop a gold each PRESS TRUST OF INDIA Tokyo, September 4 SHOOTER MANISH NARWAL smashed a Games record while shuttler Pramod Bhagat yet again asserted his supremacywith his gold-winning performance as India’s tallyswelled to 17 aftera fourmedal show on a memorable penultimate day at the Tokyo Paralympics on Saturday. The 19-year-old Narwal shot a total of 218.2, a Paralympic record, for gold in P4 Mixed 50m Pistol SH1 event while Bhagat humbled Great Britain’s Daniel Bethell in the men’ssinglesSL3classfinalfor a historic yellow metal. India now have four gold, seven silver and six bronze medals to be placed 26th with one dayleft in the Games. India had won just four medals in the last edition in Rio while the total count from the 1972 editionwhen the country competed for the first time till theseTokyo Gameswas 12. More medals are in store for India on the final day on with shuttlers Suhas Yathiraj and Krishna Nagar sailing into the men’s singles finals of SL4 class and SH6 class,respectively. Continued on Page 11 LACKING BANDWIDTH Upgrade of BSNL existing sites to 4G put off again ● Second time proposal deferred for southern & western zones Network interrupted ■ The deferment came despite BSNL securing the National Security Council Secretariat's nod to upgrade the 13,533 sites in the two regions KIRAN RATHEE New Delhi, September 4 the situation, the NSCS provided its approval to go ahead with Nokia as the equipment supplier ■ The upgrade of sites in south and west zones will cost `567.35 crore ■ Once the approval is THE GOVERNMENT NOMINEES on BSNL’s board last week, for the second time, deferred a keyproposal floated by the company to upgrade its 2G/3G sites in the southern and western zones to 4G. The deferment came despite BSNL securing the National Security Council Secretariat’s (NSCS) nod to upgrade the 13,533 sites in the two regions. Inanearlierboardmeeting, since the government nominees had cited security concerns related to the proposal to upgrade the sites, BSNL had this time armed itself with an approval from NSCS.Given the criticality of the situation, the NSCS provided its approval to go ahead with Nokia as the equipment supplier. According to a new securitydirective that has been put in place forthe telecom sector, all operators have to use ■ Given the criticality of given, it would take three-four months to launch 4G services in these regions equipment onlyfromwhat the government calls ‘trusted sources’, and for this approval has to be taken from NSCS. In fact, BSNL CMD PK Purwar had earlier written to the telecomsecretary,Anshu Prakash, requesting that the government nominees be advised to give their assent to the proposal in the board meeting. The upgrade of sites in south and west zones will cost `567.35 crore and once the approval is given,itwould take three-four months to launch 4G services in these regions. BSNL is pushing for the upgradebecausethepan-India rollout of 4G network by Indian firms is facing issues. The delay in BSNL’s regular tender for 4G tender is facing delays in finalisation because the government has laid down guidelines that only ‘domestic core or Indian core’ can be used in building the network. In keeping with this requirement, BSNL floated a tender for procurement of 50,000 sites issued letter of intent to five vendors — TCS, Tech Mahindra, HFCL, L&T and ITI. However, some technical issues have cropped up, which needs to be resolved. Continued on Page 11 As digital becomes mainstream, start-ups accelerate hiring process ● Recruitments are mostly in tech-related support functions FE BUREAU New Delhi, September 4 AS SERVICES OFFERED by start-ups become more mainstream,partiallyhelped bythe pandemic-led surge in digital adoption, companies are increasingly looking to expand their teams and hire staff who can build new products and add to firms’technological capabilities. For instance, Lenskart plans to add more than 2,000 employees across India by 2022. The company will bolster its technology team by recruiting over 100 engineers across Bengaluru, NCR and Hyderabad. Almost 1,500 new retail staff will be deployed to manage theirrising count of physical stores.Over300 employees will also be hired to strengthen thesupplychainandmanufac- THERE'S STRENGTH IN NUMBERS Lenskart plans to add more than 2,000 employees across India by 2022 ■ The company will bolster its technology team by recruiting over 100 engineers across Bengaluru, NCR and Hyderabad Oyo is also looking to recruit more than 300 technology professionals in the country over the next six months BharatPe that recently raised a fresh $370 million in funding at a valuation of $2.85 billion will be tripling the strength of its technology team and hiring 100 more members Testing company TestingXperts is planning to add another 200- 250 people to their fleet of 750 turing operations and another 100will be added to the corporate functions across finance, consumer insights, HR, and merchandising. “…we are building a strong presence in regional markets through our stores and e-commerce. This has opened up several job opportunities across Lenskart...hiringisakeyaspect in our growth journey and we are looking at actively hiring skilled talent across verticals for regions like Hyderabad, Bengaluru,Mumbai,andDelhi among others,”said founder & CEO Peyush Bansal. Similarly, Oyo is also looking to recruit more than 300 technology professionals in the country over the next six months. The firm said it seeks to hire teams with key skill sets and expertise in the areas of machine learning,data engineering & information security, android and iOS developers. Theexpandeddesign,productandengineeringteamswill be responsible for building long-term capabilities for Oyo from scratch and updating the current tech stack.“The hiring will play a critical role in accel- New Delhi erating Oyo’s transformation to a global full-stack technology provider for small and mid-sized hotels and homes.It has seen its improved app ecosystemprovideadoublelift in revenues for new hotels and homes that join its network,” the start-up said. New unicorn BharatPe that recently raised a fresh $370 million in funding at a valuation of $2.85 billion will be tripling the strength of its technology team and hiring 100 more members. Continued on Page 11
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