India Ranks 2nd After US in All-Time Funding for Women-Run Tech Startups

Bengaluru, March 7 (IANS) The Indian tech startup ecosystem now ranks second, after the US, in terms of all-time funding raised by companies with women founders, with a total of $26 billion in this space to date, a report showed on Friday.

India is home to over 7,000 active women-led startups, accounting for 7.5 per cent of all active startups in the country.

These startups have collectively raised $26.4 billion in funding, with 2021 being the highest funded year at $6.3 billion, according to data by Tracxn, a leading startup research and analytics firm. Bengaluru leads in both the number of women-led startups and total funding raised to date, followed by Mumbai and Delhi-NCR.

On a global scale, 2022 saw the highest funding contribution from Indian startups at 15.18%. That year, women-led startups in India raised $5 billion, compared to $32.8 billion globally.

In 2024, India ranked third globally in terms of funding raised by startups co-led by women, after the US and the UK, accounting for 3.96 per cent of funding raised by women-led startups across the globe.

The retail sector takes a strong lead based on investments raised by women-led startups, securing $7.8 billion in all-time funding. Edtech ($5.4 billion) and Enterprise Applications ($5 billion) follow closely. Notably, sub-sectors such as B2C e-commerce, internet-first brands, and fashion tech are seeing significant activity, with several startups co-led by women, the report noted.

The highest number of acquisitions of women-led startups was recorded in 2021, with 45 acquisitions. However, this number declined by 20 per cent to 36 in 2022, and further decreased by 30.5 per cent to 25 in 2023. In 2024, the number of acquisitions fell to 16.

“These startups are not only securing massive funding but also redefining industries, generating employment, and setting new benchmarks for future entrepreneurs,” said the report.

While the startup ecosystem still has a long way to go in bridging the gender funding gap, these trailblazers are proving that women-led startups are driving India’s growth story. —IANS

IndiGo Ranked World’s 2nd Fastest-Growing Airline in Seat Capacity

New Delhi, March 7 (IANS) IndiGo Airlines has emerged as the world’s second fastest-growing airline in terms of seat capacity, which increased by 10.1 per cent year-on-year to over 134.9 million seats in 2024.

India’s largest airline has been ranked next only to Qatar Airways, which clocked a 10.4 per cent growth in seat capacity over the previous year, according to the latest data from the Official Airline Guide (OAG).

IndiGo has also been ranked as the fastest-growing airline in the world in terms of flight frequency growth at 9.7 per cent year-on-year in 2024.

The airline recorded a flight frequency of 749,156 for the year, the figures show. OAG has also recorded that IndiGo holds one of the world’s largest aircraft orders, with over 900 aircraft on order and has the largest recipient of 58 new Airbus aircraft during 2024.

However, it also states that the airline does have a large proportion (approximately 80 aircraft) inactive with MRO-related supply chain issues. While 88 per cent of IndiGo’s capacity is allocated to domestic markets, international growth is a key part of the airline’s strategy with expansion during 2024 focused on regional Middle East markets and Thailand.

Longer-term ambition for IndiGo includes the development of long-haul low-cost services – the airline is considering bringing forward launch plans with wet lease aircraft identified for 2025.

IndiGo reported a net profit of Rs 2,449 crore in the Oct-Dec quarter of the current financial year ending on March 31, 2025. This represented an 18 per cent decline over the corresponding figure for the previous financial year.

However, the airline’s revenue from operations increased 14 per cent to Rs 22,111 crore during the quarter. IndiGo’s total income for the quarter was Rs 22,992.8 crore, which was a 14.6 per cent increase from the same period in the previous year.

The airline’s total expenses for the quarter were Rs 20,465.7 crore, a 19.9 per cent increase from the previous year. The airline’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) rose 0.7 per cent year-on-year to Rs 5,178.6 crore.

IndiGo’s load factor for the quarter stood at 86.9 per cent, which was higher than 85.8 per cent in the same period in the previous year. –IANS

Madhya Pradesh: 16th Finance Commission Likely To Focus On CAG Recommendations

Madhya Pradesh: 16th Finance Commission likely to focus on CAG recommendations Bhopal, March 5 (IANS) Despite slim chances, the Madhya Pradesh harbours aspirations for increased funds particularly for its ailing local bodies, some improvements are expected in accounting system in state’s ailing local bodies as visiting 16th Finance Commission is likely to focus on certain suggestions provided by ace accounting body — Comptroller and Auditor General of India (CAG).

A meeting between the visiting 16th Finance Commission, led by Chairperson Arvind Panagariya, and K. Sanjay Murthy, head of the CAG, deliberated upon various aspects of challenges and solutions in several areas of state and union finances and audits.

Additionally, the Finance Commission and its members conferred with the state’s Chief Minister, Mohan Yadav. The CAG emphasised the critical role of this meeting in the Commission’s evaluation of the financial landscape at both central and state levels.

The meeting between these two paramount bodies predominantly focused on the fiscal health of local bodies, public sector enterprises, and state finances. The CAG suggested standardising accounting practices across all levels of government, including local bodies, which urgently require an integrated financial management system for onboarding payments and fund transfers from the state to urban and rural local bodies.

This would streamline accounting practices. Citing difficulties and financial strain, a well-placed government official explained to IANS that funds routed through the Public Financial Management System (PFMS) integrated with the eGramswaraj platform.

However, state grants are routed via the Comprehensive Financial Management System (CFMS), which is not linked to eGramswaraj. State’s own source revenue is neither routed nor captured through PFMS or CFMS, with local bodies often issuing cheques manually. This lack of integration compromises transparency and accountability.

Moreover, discrepancies exist between accounts prepared on eGramswaraj and those maintained manually. Madhya Pradesh, home to 23,000 Gram Panchayats across 313 blocks with 70 per cent of the population residing in rural areas, continues to focus on service delivery, especially in tribal areas, despite poor local resource collection.

Rising living standards and expectations for improved services have added pressures on local governance. Madhya Pradesh has faced difficulties in asset management and meeting operation and maintenance costs, often relying on state support. As an immediate measure, it was proposed that the accounts of local bodies be harmonised with those of central and state governments in the top 100 cities.

The Central government has been promoting the creation of capital assets in rural areas through programs like Swachh Bharat Mission (SBM) and Jal Jeevan Mission (JJM). Operation and Maintenance (O&M) of these assets, which has been devolved to Rural Local Bodies (RLBs), is critical to maintaining service quality.

Recognising the importance of water and sanitation issues, the 15th Finance Commission allocated 60 per cent of its grants for water and sanitation. These funds are released to local bodies after due verification, with overall utilisation deemed satisfactory. However, some northeastern states face delays in providing Grant Transfer Certificates, an issue being addressed.

According to a well-placed government insider, states frequently demand that cess and surcharge be included in tax devolution, a prospect rendered unlikely post the abrogation of the Planning Commission.

The state’s finances also seek a substantial increase in devolution, much depending on the state-central relationship. During Wednesday’s meeting in Bhopal, the CAG shed light on the financial strains and stress points hindering the improvement of human development indices, particularly in economically weaker geographies.

Further discussions between the two bodies included states’ budget management targets, fiscal responsibility, and the importance of regular reporting of Off-Budget Borrowings. The CAG observed that for better fiscal performance, states should focus on areas such as stamp duty, registration fees, and state excise collections, which hold significant potential.

Discussions also covered the need for regular updates and use of modern technology to minimise revenue leakages, bring more transparency and enhance data accuracy. The broadening of the Goods and Services Tax (GST) net, improving GST administration, and augmenting transparency were also deliberated.

The CAG proposed several reforms aimed at broadening the tax base, such as integrating unregistered goods and service providers into the GST framework through automated data collection and enhancing taxpayer verification processes.

Fiscal Support Pact Key Step Towards Rs 91,000 Crore Semiconductor Project: Centre

Fiscal support pact key step towards Rs 91,000 crore semiconductor project: Centre New Delhi, March 6 (IANS) In a boost for the domestic semiconductor industry, India Semiconductor Mission (ISM), Tata Electronics Private Limited (TEPL), and Tata Semiconductor Manufacturing Private Limited (TSMPL) have signed a fiscal support agreement (FSA) for the country’s first commercial chip fab in Dholera, Gujarat.

Signed in the presence of Gujarat Chief Minister Bhupendra Patel at the ‘Semiconnect conference’ in Gandhinagar, the pact represents a decisive step forward in strengthening India’s technological self-reliance under the modified programme for semiconductor and display manufacturing ecosystem in India.

Tata Electronics’ semiconductor fab in Dholera commands a total investment of over Rs 91,000 crore with a capacity of 50,000 wafers starts per month (WSPM).

The government, through the India Semiconductor Mission, has committed 50 per cent fiscal support on a “pari-passu” basis (on equal footing) for eligible project costs —demonstrating unwavering national commitment to building a world-class semiconductor ecosystem within Indian borders.

Set to generate over 20,000 direct and indirect skilled jobs, this project brings Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC) expertise to India, creating a powerful technological alliance.

The facility will address critical global semiconductor markets in automotive, computing, communications, and artificial intelligence sectors — transforming India from a technology consumer into a global manufacturing powerhouse, according to the government.

Sushil Pal, CEO of the India Semiconductor Mission, emphasised that “the government is committed to the timely disbursement of fiscal support for the execution of this project”.

“We are confident that Tata Electronics will play a pivotal role in strengthening the electronics value chain and make a significant contribution to India’s overarching goals in this sector,” he mentioned.

According to Dr Randhir Thakur, CEO and MD, Tata Electronics, this is a historic milestone for India and Tata Electronics in its journey of establishing a semiconductor manufacturing industry in the country.

“The Fiscal Support Agreement (FSA) solidifies our partnership with MeitY and ISM to realise Prime Minister’s vision of manufacturing chips for Viksit Bharat,” Thakur noted. —IANS na/

Hiring Grows 10% in February, Demand Surges for Freshers, Skills-Based Roles: Report

Hiring grows 10pc in February, demand surges for freshers, skills-based roles: Report Bengaluru, March 6 (IANS) India’s job market continued its upward momentum in February 2025, with hiring growing 10 per cent month-over-month (MoM), according to a report on Thursday.

The report, based on the latest insights from the jobs and talent platform foundit, showed that the trend is particularly evident in fresher hiring, where employers are increasingly prioritising skills, certifications, and industry-specific expertise over formal degrees.

The share of job listings prioritising competencies over qualifications has risen from 4 per cent in 2023 to 14 per cent in 2025, reflecting a shift towards a more skills-driven workforce in line with evolving industry demands.

“The shift towards skill-based hiring is undeniable. Employers are increasingly prioritising candidates with practical expertise and industry-relevant skills,” said V Suresh, CEO, foundit.

“This presents a valuable opportunity for recent graduates to focus on acquiring in-demand skills, earning certifications, and building robust portfolios that highlight their capabilities, ultimately enabling them to differentiate themselves in an ever-evolving job market,” he added.

The report stated that India’s fresher job market maintained steady growth in February, with hiring rising 6 per cent month-over-month (MoM), reflecting sustained employer demand for entry-level talent.

Among sectors, IT hardware and software continued to lead fresher hiring, nearly doubling its share from 17 per cent in 2024 to 34 per cent in 2025. Further, the recruitment and staffing industry has also seen notable growth in fresher hiring, highlighting the rising demand for fresh talent across various domains.

Meanwhile, sectors such as BFSI and BPO/ITES have experienced a decline in fresher hiring, reflecting changing industry priorities. Across job functions, IT remains the most in-demand field, though its share has slightly dipped.

Sales and business development, marketing and communications, and medical roles have gained traction, with marketing and communications now accounting for 11 per cent of fresher job postings — a significant increase from previous years.

Beyond the major metropolitan areas, Tier-2 cities like Nasik, Jaipur, Surat, Coimbatore, Indore, Kochi, Thane, Vadodara, Chandigarh, and Nagpur are also emerging as key locations for fresher job opportunities.

Fresher salaries in February 2025 reveal a diverse landscape across industries. Animation, gaming, and medical/healthcare sectors lead in year-on-year (YoY) growth, showcasing a 15 per cent and 8 per cent increase respectively, while also offering competitive average salary ranges.

In February 2025, the import and export and BPO sectors recorded the strongest MoM hiring growth at 14 per cent, followed by energy at 12 per cent, and logistics and transportation at 11 per cent. –IANS rvt/

India’s Social Security Coverage Doubles to 48.8%: Minister

New Delhi, March 6 (IANS) Social security coverage in India has doubled from 24.4 per cent to 48.8 per cent, said Union Minister for Labour and Employment and Youth Affairs and Sports Mansukh Mandaviya.

Addressing the post-budget webinar on the theme ‘Investing in People’, Mandaviya outlined the government’s mission to skill and empower India’s youth, ensuring that talent in the country makes a global impact.

Citing the ILO World Social Security Report 2024-26, he said “India’s social security coverage doubling from 24.4 per cent to 48.8 per cent”.

The expansion of the e-Shram Portal, covering over 30.67 crore unorganised workers, and the inclusion of gig workers under Pradhan Mantri Jan Arogya Yojana (PMJAY), reinforce the government’s commitment to workforce welfare, the Union Minister said.

The government has also integrated 12 key welfare schemes under e-Shram and has made the portal available in 22 Indian languages, he said, adding that to support workers’ families.

“Ten new ESIC medical colleges have been approved, with plans for 10 more in the pipeline,” he said.

Mandaviya highlighted the roadmap for Viksit Bharat by 2047 and stated that investing in people is not just an economic decision but a social, moral, and cultural commitment toward an educated, healthy, and empowered society.

Underscoring the success of employment initiatives, Mandaviya said that “17.1 crore jobs were created between 2014-24, including 4.6 crore in the past year alone”.

On the other hand, there has been a “significant drop in unemployment rates, from 6 per cent in 2017-18 to 3.2 per cent in 2023-24”, the Minister said.

There has also been “a remarkable rise in female employment from 22 per cent to 40.3 per cent in the same period”, he added, while crediting these achievements to the government’s progressive policies.

Meanwhile, Sumita Dawra, Secretary (Labour and Employment) highlighted major strides in modernising the Employees’ Provident Fund Organisation (EPFO), including the enrolment of over 6.2 crore new members in six-and-a-half years.

She also mentioned reforms such as centralised pension processing system, auto-settlement of PF claims, and robust IT infrastructure.

Dawra underscored the ESIC expansion — from 2.03 crore insured persons (IPs) in 2014 to 3.72 crore in 2024 — and the growing healthcare network across 165 hospitals and 1,590 dispensaries.

–IANS

Maintaining High Safety Standards as India Progresses Towards Development: Adani Electricity

Mumbai, March 6 (IANS) Adani Electricity on Thursday said it is observing the ‘National Safety Week 2025’ from March 4-10, maintaining high safety standards as India progresses towards development.

This marks the 54th National Safety Week, and this year’s theme is “Safety and Well-being Crucial for Viksit Bharat”, the Adani Group company said in a statement.

The objective is to raise awareness and encourage the adoption of safety measures across its power distribution area and various work sites, according to Adani Electricity, which is the leading power distribution company serving over three million customers in Mumbai.

Towards this Adani Electricity employees participated in the workshop organised by the safety team of Adani Electricity.

Meanwhile, the company said recently it is proactively addressing the anticipated increase in power demand this summer by leveraging cutting-edge technology and infrastructure upgrades.

Mumbai’s rapid urbanisation and economic growth are driving a significant rise in electricity consumption. To ensure a reliable and uninterrupted power supply for its customers throughout the summer, Adani Electricity will primarily meet demand through a combination of long-term and short-term contracts.

This includes 1,300 MW from long-term contracts, renewable energy sources (solar, wind, and hybrid), 500 MW from medium-term contracts, and 700 MW of additional solar and wind power secured through short-term contracts.

In addition, Adani Electricity has arranged around 300 MW through a banking arrangement. Additional power required, if any, will be met through the short-term power market, according to the company statement.

The company is also leveraging artificial intelligence (AI) and machine learning-based demand forecasting models to accurately predict electricity demand across different times of the day.

These systems analyse historical consumption patterns, weather forecasts, and real-time grid conditions to optimise power procurement and prevent shortages.

Adani Electricity has deployed a state-of-the-art network Operation Centre (NOC) coupled with automated substations, enabling real-time monitoring and control of the power network.

–IANS

8 MOUs Worth Over ₹1.04 Lakh Crore Signed at Semiconductor Conference in Gujarat

Gandhinagar, March 6 (IANS) The Gujarat Semiconnect Conference, held at Mahatma Mandir, in Gandhinagar saw the signing of eight major Memorandums of Understanding (MoUs) in the presence of Chief Minister Bhupendra Patel.

These agreements, collectively worth more than Rs 1.04 lakh crore, aim to bolster semiconductor and electronics manufacturing in Gujarat, generating thousands of jobs.

The three-day event features more than 1,500 delegates and 250 exhibitors, positioning Gujarat as a key player in India’s semiconductor sector.

Among the key agreements, JABIL INDIA signed an MoU to establish a Silicon Photonics Manufacturing Unit in Gujarat, investing Rs 1,000 crore. This unit will manufacture photonics transceivers vital for AI, telecom, Internet of Things (IOT), and smart infrastructure, generating nearly 1,500 new jobs.

Additionally, India Semiconductor Mission (ISM) and Tata Electronics (TEPL) signed a Financial Support Agreement (FSA) for the development of a semiconductor fab unit at Dholera with a staggering investment of Rs 91,526 crore, backed by financial assistance from the Central government.

In another major step towards skill development, Tata Electronics entered into an MoU with IIT Gandhinagar to enhance training in the semiconductor sector. A tripartite agreement was also signed between Tata Electronics, Taiwanese company PSMC, and Himax Technologies for semiconductor chip production in Dholera.

Taiwan Surface Mounting Technology (TSMT) signed an MoU to establish an Electronics Manufacturing Service (EMS) unit in Gujarat with an investment exceeding Rs 500 crore, promising around 1,000 job opportunities.

Micron Technology, based in Sanand, entered into an agreement to contribute towards environmental, health, and safety initiatives, along with STEM education and workforce development in the surrounding rural areas.

NextGen announced an ambitious Rs 10,000 crore investment to establish a compound semiconductor fab and optoelectronics facility in Gujarat, with technical support from Hitachi and Solidlight.

Additionally, CANS secured a significant partnership with Alpha and Omega Semiconductor Limited (AOS), a leading US-based semiconductor chip designer and global supplier, for multi-year semiconductor chip products, including POWER MOSFETs, IGBTs, and IPMs.

The conference also marked the release of the semiconductor supply chain compendium, the launch of the “Semiconductor Manufacturing Supply Chain” report by the India Electronics and Semiconductor Association (IESA), and the introduction of the “Vision to Reality” — a ‘Make in India’ product initiative.

The foundation stone for Keynes Technology’s semiconductor unit in Sanand was also laid, with pilot manufacturing set to commence in June 2025 and full-scale production by January 2026.

Addressing the event, Chief Minister Patel highlighted Gujarat’s proactive approach in developing a robust electronics manufacturing ecosystem. He emphasised the state’s dedicated Semiconductor Policy of 2022 and the ongoing development of Dholera as India’s first greenfield smart city with plug-and-play facilities.

CM Patel further detailed the recently announced Global Capability Centre Policy aimed at fostering advancements in AI, machine learning, and analytics, reinforcing Gujarat’s role as a leader in high-tech manufacturing.

Netherlands Ambassador to India, Marisa Gerhards, underscored the semiconductor sector’s pivotal role in realising Prime Minister Narendra Modi’s vision of a developed India by 2047. The Chief Minister expressed optimism about Indo-Dutch collaboration in semiconductor technology, emphasising that Gujarat’s contributions to this sector will be instrumental in shaping India’s technological landscape.

Chief Secretary Pankaj Joshi reaffirmed Gujarat’s status as a national manufacturing hub, attributing it to the state’s robust financial management, world-class infrastructure, and investor-friendly policies.

He noted that Dholera Semicon City and Sanand GIDC are evolving as key semiconductor packaging hubs, supported by strategic infrastructure projects such as uninterrupted power and water supply, expressway connectivity, a new railway station, and the upcoming Dholera Greenfield Airport, which is set to be operational by July 2025. –IANS

PhonePe launches ‘insuring HEROES’ campaign for International Women’s Day

New Delhi, March 6 (IANS) PhonePe on Thursday launched its ‘insuring HEROES’ campaign ahead of the International Women’s Day.

International Women’s Day is observed every year on March 8.

As part of the initiative, the company is offering exclusive discounts of up to 30 per cent, specifically for women, on select term life and health insurance plans.

It is available on the PhonePe platform until March 9, 2025. Women can avail these exclusive offers on the PhonePe app to ensure their overall economic well-being and enjoy long-term stability.

Discounts include up to 15 per cent off on health insurance plans, and up to 30 per cent off on term life insurance plans.

Through this initiative, PhonePe aims to assist women with greater financial security, facilitating their access to the right insurance solutions tailored to their unique needs.

To avail these offers on the PhonePe app: users must first select the ‘insuring HEROES’ banner within the insurance section of the PhonePe app.

They can then click ‘buy term plan’ to begin. Next, the users must choose the ‘buy new plan’ button and fill the ‘date of birth’ and ‘annual income’ to calculate the coverage.

Users also will need to share some ‘additional personal details’ to find the best insurance plans for their needs.

Then, they can ‘check out the top plans’ and shortlist the one they prefer to buy.

–IANS

CDIL Semiconductors and Infineon Technologies to Boost India’s Power Chip Manufacturing

New Delhi, March 6 (IANS) Domestic company CDIL Semiconductors and Infineon Technologies Asia Pacific, a global semiconductor leader in power systems and IoT, on Thursday signed a memorandum of understanding to explore strategic collaboration opportunities in India’s fast-growing chip market.

With the government prioritising semiconductor self-reliance, this collaboration supports India’s goal of strengthening local production and reducing import dependency.

Through this collaboration, Infineon will supply high-performance bare die wafers to CDIL, which will package them into discrete and module semiconductor products tailored for Indian customers, with an aim to strengthen India’s domestic capabilities and global supply chain position.

“This collaboration is a testament to India’s potential and our expertise in power semiconductor manufacturing. By integrating Infineon’s world-class wafer technology with CDIL’s advanced OSAT capabilities, we are setting new benchmarks in innovation and localisation,” said Pankaj Gulati, President, CDIL.

This collaboration goes beyond growth — it drives innovation, accelerates ‘Make in India,’ and positions India as a hub for semiconductor excellence.

“Through this collaboration, we will be delivering cutting-edge power semiconductor products and solutions to customers that address the growing needs in e-mobility, renewable energy, and energy-efficient appliances in India,” said Richard Kuncic, SVP and General Manager Power Systems at Infineon Technologies.

Infineon and CDIL will address critical semiconductor needs in various sectors, including automotive and mobility, power semiconductors and renewable energy and industrial and consumer applications, they said in a statement.

It also lays the foundation for future innovation and deeper engagement in advanced semiconductor technologies, catering to India’s evolving needs in next-generation electronics.

CDIL has been manufacturing high-reliability semiconductor devices since 1964 for organisations like ISRO, Vikram Sarabhai Space Centre, HAL and BEL, among others.

India has made significant progress in semiconductor manufacturing, with five units under construction simultaneously. The first ‘Made in India’ chip is expected to roll out by 2025. —IANS