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Wednesday, December 31, 2025 6:45 AM

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India and Canada Convene 7th Ministerial Dialogue to Deepen Trade and Investment Cooperation

India and Canada have reaffirmed their commitment to strengthening economic ties during the 7th Ministerial Dialogue on Trade and Investment (MDTI), held in New Delhi. The meeting was co-chaired by Union Minister of Commerce and Industry, Shri Piyush Goyal, and Maninder Sidhu, Canada’s Minister of Export Promotion, International Trade and Economic Development. This high-level dialogue marks a new chapter in bilateral engagement, following the Joint Statement of October 13, 2025, titled “Renewing Momentum towards a Stronger Partnership”, which emphasized trade as a key pillar of mutual economic growth and resilience. Both Ministers underlined the strong foundation of India–Canada relations, built on shared democratic principles, cultural diversity, and expanding economic complementarities. They acknowledged the critical role of the Indian diaspora in Canada, which includes around 2.9 million people and over 427,000 Indian students, as a living bridge that enhances mutual understanding, innovation, and cooperation. Bilateral trade in goods and services between the two countries reached USD 18.38 billion in 2023, reflecting steady progress despite global challenges. The Ministers appreciated the rise in two-way investments and reiterated their commitment to fostering an open, transparent, and predictable trade environment that encourages sustainable and inclusive economic development. The dialogue addressed a broad spectrum of issues, including nutritional security, supply chain resilience, healthcare collaboration, and investment facilitation. Both sides also discussed ways to improve market access, regulatory harmonization, and long-term trade resilience to ensure that economic ties remain future-ready and mutually beneficial. Concluding the discussions, the Ministers expressed a shared resolve to revitalize and advance the India–Canada economic partnership based on trust, respect, and collaboration. They emphasized the importance of turning the deliberations into concrete outcomes that drive shared prosperity and define the evolving strength of the bilateral relationship. Source: PIB Photo Credit: iStock

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Rajnath Singh Inaugurates DPSU Bhawan, Launches R&D and Green Manufacturing Initiatives to Boost Defence Self-Reliance

In a significant move to strengthen India’s defence manufacturing ecosystem, Defence Minister Rajnath Singh inaugurated the state-of-the-art DPSU Bhawan at Naoroji Nagar, New Delhi, on November 10, 2025. The new facility aims to serve as a central hub for collaboration and innovation among the country’s 16 Defence Public Sector Undertakings (DPSUs), promoting synergy under the national vision of Atmanirbhar Bharat. The event also featured the launch of a comprehensive R&D roadmap for DPSUs and the unveiling of HAL’s R&D Manual, designed to enhance indigenous design, intellectual property creation, and collaboration with Indian academia. Singh said the roadmap represents India’s shift “from manufacturing under licence to manufacturing through innovation,” reinforcing the goal of technological self-sufficiency. Highlighting the sector’s growth, Singh revealed that India’s defence production in FY25 touched a record ₹1.51 lakh crore, with DPSUs contributing over 71%. Defence exports also surged to ₹6,695 crore, showcasing global confidence in Indian-made platforms. He urged DPSUs to continue their momentum by focusing on rapid indigenisation, quality enhancement, and timely deliveries. Four DPSUs — Munitions India Limited (MIL), Armoured Vehicles Nigam Limited (AVNL), India Optel Limited (IOL), and Hindustan Shipyard Limited (HSL) — were awarded Miniratna (Category-I) status, granting them greater operational autonomy and financial independence. To promote industry collaboration, three key MoUs were exchanged between HAL, BDL, Yantra India Limited (YIL), and MIDHANI. These agreements include the setup of a 10,000-ton forging press to reduce dependence on imported aluminium alloys and the establishment of a Metal Bank to secure critical raw materials for defence projects. HAL also announced an interest-free advance of ₹435 crore to YIL, while BDL committed to a sustained workload of 3,000 metric tonnes over the next decade. Rajnath Singh also launched SWAYAM (Sustainable and Green Defence Manufacturing) — a compendium highlighting eco-friendly practices adopted across DPSUs. Backed by the Comprehensive Energy Efficiency Action Plan (CEEAP) 2023, it promotes renewable energy, energy efficiency, and carbon reduction. He commended India Optel Limited (IOL) and Bharat Electronics Limited (BEL) for achieving 100% renewable energy usage, contributing significantly to India’s Net Zero goals. The newly inaugurated DPSU Bhawan brings all DPSUs under one roof, symbolizing unity and collective progress under the Sanskrit motto “Sangachhadhwam Samvadadhwam” — “Move together, dialogue together.” Equipped with modern simulation facilities, conference rooms, and exhibition spaces, it is set to become a showcase of India’s growing defence manufacturing capabilities. Concluding the event, Singh called on DPSUs to strengthen R&D, sustainability, and innovation to position India as a global hub for defence manufacturing. “Our goal is not just self-reliance but leadership on the world stage,” he said. Source: Economic Times

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India Introduces AI Governance Guidelines to Ensure Safe and Responsible Adoption

The Indian government has unveiled its first set of Artificial Intelligence (AI) governance guidelines, outlining a framework for the safe, transparent, and ethical use of AI technologies. The non-binding rules, released on Wednesday, are expected to shape India’s long-term vision for AI regulation ahead of the IndiaAI Impact Summit scheduled for February next year. Developed under the Ministry of Electronics and Information Technology (MeitY), the guidelines recommend potential amendments to the Information Technology (IT) Act to better classify AI systems and define liability across the AI value chain. The document highlights that the current definition of “intermediary” under the IT Act — covering telecom operators, search engines, and even cyber cafés — is outdated in the context of autonomous AI systems capable of generating data independently. Principal Scientific Adviser Ajay Sood noted that the new framework aims to provide clarity on responsibilities of AI developers and deployers, while also ensuring accountability. He added that the framework could serve as a model for AI governance in the Global South, especially for countries with limited regulatory resources. The guidelines also propose an India-specific AI risk assessment framework based on real-world harm evidence, along with a national database of AI incidents to track misuse, bias, and potential threats. This centralised repository will collect data from smaller regional databases managed by sectoral regulators, helping policymakers better understand the societal and security implications of AI technologies. The framework further recommends establishing new institutions to oversee AI policy, including an AI Governance Group—a permanent inter-ministerial body responsible for coordination and policy development—and leveraging the newly formed AI Safety Institute as the lead authority for ensuring safe and trusted AI use in India. Other key proposals include adopting regulatory sandboxes to allow innovation in controlled environments with limited legal exposure, and mandating accessible grievance redressal mechanisms through the existing Grievance Appellate Committee process. The guidelines also stress the need to update copyright laws to support large-scale AI model training and clarify digital platform classifications. MeitY Secretary S. Krishnan said the government is committed to acting when necessary to ensure AI is developed responsibly and ethically. The document, shaped after studying AI policies in the US, European Union, and China, and informed by over 2,500 submissions from stakeholders including academia, industry, and government bodies, marks a significant step in India’s effort to build a robust governance ecosystem for emerging technologies. Source: Economic Times

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PM Modi Unveils ₹1 Lakh Crore R&D Fund, Calls for Ethical and Inclusive Innovation at ESTIC 2025

Prime Minister Narendra Modi addressed the Emerging Science, Technology and Innovation Conclave (ESTIC) 2025 at Bharat Mandapam on Nov 3, highlighting India’s growing leadership in science, technology, and innovation. Welcoming participants from India and abroad — including scientists, innovators, academics, and policymakers — the Prime Minister celebrated India’s landmark achievements in both sports and science. Opening his remarks, PM Modi congratulated the Indian women’s cricket team for their historic ICC Women’s World Cup victory, saying the nation was “immensely proud” of their achievement, which will inspire millions of young Indians. The Prime Minister also hailed India’s scientists for successfully launching the heaviest communication satellite, commending ISRO for its continued contribution to India’s space advancements. He noted that both achievements reflected India’s growing spirit of excellence and innovation. R&D Boost: ₹1 Lakh Crore RDI Scheme Announced Underscoring the government’s commitment to strengthening India’s research ecosystem, PM Modi formally launched the ₹1 lakh crore Research, Development and Innovation (RDI) Scheme Fund, designed to boost private sector–led R&D. He emphasized that, for the first time, capital will be made available for high-risk, high-impact research projects, and reaffirmed that the government is “building a modern innovation ecosystem” by easing financial rules, procurement norms, and regulatory frameworks to accelerate the journey from lab to market. He also referred to the establishment of the Anusandhan National Research Foundation (ANRF) to expand research and innovation across Indian universities. India’s Innovation Momentum PM Modi highlighted India’s transformation into a global innovation hub — noting that R&D spending has doubled in the past decade, patent registrations have risen 17-fold, and India now ranks as the world’s third-largest startup ecosystem. Over 6,000 deep-tech startups are driving progress in areas such as clean energy, materials science, and semiconductors, while India’s bio-economy has grown from $10 billion in 2014 to $140 billion today. He said, “India is no longer a consumer of technology — it is a driver of technological transformation,” citing the nation’s indigenous vaccine success during the COVID-19 pandemic and the reach of its Digital Public Infrastructure, which connects over two lakh gram panchayats with optical fibre. Empowering Women in Science Highlighting inclusive innovation, the Prime Minister celebrated the rising participation of women in STEM. He noted that women now make up 43% of STEM students in India — above the global average — and that annual patent filings by women have increased from fewer than 100 to over 5,000. He added that Indian women scientists are now at the forefront of space research and innovation. Encouraging the Next Generation PM Modi underscored the importance of nurturing scientific curiosity among youth. Recalling the public excitement around Chandrayaan and the recent Indian space station mission, he said these moments have inspired young minds to explore science. He announced plans to expand Atal Tinkering Labs from 10,000 to 25,000 labs, giving over one crore students a platform for hands-on innovation. The Prime Minister also shared that 10,000 new research fellowships will be awarded over the next five years under the Prime Minister’s Research Fellowship to further empower young scientists. India’s Vision for Ethical AI and Future Technologies Speaking about the future of emerging technologies, PM Modi stressed that science and technology must remain ethical, inclusive, and human-centric. He cited the India AI Mission, with an investment of ₹10,000 crore, aimed at making AI accessible and beneficial for all. He also announced that India will host the Global AI Summit in February 2026, focusing on inclusive and safe AI governance. Calling for innovation in critical areas such as nutrition security, biofortified crops, clean energy storage, bio-fertilisers, and genomic medicine, the Prime Minister urged scientists to work towards achieving self-reliance in key inputs and technologies. Concluding his address, PM Modi invoked the spirit of “Jai Vigyan, Jai Anusandhan”, reaffirming the government’s full support for researchers and innovators. He expressed confidence that the outcomes of ESTIC 2025 will chart a new roadmap for India’s scientific and technological future. Source: PIB

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India’s Digital Trust Revolution: National Blockchain Framework Redefines Governance

In the backdrop of India’s fast-evolving digital ecosystem, a quiet yet powerful transformation is underway—rooted not in additional red tape, but in a foundation of trust. The National Blockchain Framework (NBF), introduced by the Ministry of Electronics and Information Technology (MeitY) in September 2024 with an outlay of ₹64.76 crore, represents India’s strategic push toward embedding transparency, integrity, and accountability within digital governance. For decades, governance in India operated through siloed databases and hierarchical permissions, often slowing down service delivery and leaving room for inefficiencies or manipulation. The NBF signals a fundamental shift—from centralized control to decentralized validation, leveraging blockchain’s core principles of immutability, shared ledgers, and trust-by-design systems. At its core, the framework is powered by the Vishvasya Blockchain Stack—a homegrown, modular “Blockchain-as-a-Service (BaaS)” platform managed by the National Informatics Centre (NIC). The stack operates across data centers in Bhubaneswar, Pune, and Hyderabad, forming the technological backbone of this nationwide initiative. Complementing it are two crucial components: NBFLite, a sandbox environment fostering innovation by allowing startups, researchers, and educational institutions to experiment with blockchain-based solutions. Praamaanik, a blockchain-enabled verification tool ensuring mobile applications’ authenticity. The results, even at this early stage, are impressive. As of October 21, 2025, over 34 crore documents have been verified using the platform—spanning property records, judiciary databases, logistics systems, and educational certificates. What began as an ambitious architectural blueprint has swiftly evolved into a functional ecosystem delivering real-world trust and efficiency. For citizens, this translates to instant verification and reduced dependency on intermediaries. For governments, it ensures secure, auditable processes resistant to tampering. For businesses, it creates a transparent environment that enhances compliance and confidence. Collectively, it strengthens India’s push for Atmanirbhar Bharat, by nurturing indigenous technology and reducing reliance on external blockchain systems. However, this transformation isn’t without hurdles. Integrating blockchain across diverse state systems and departments demands continuous skill-building, harmonization of legal frameworks, and alignment between policy and technology. Equally vital is citizen awareness—without which digital trust cannot fully take root. Echoing Prime Minister Narendra Modi’s vision that “Digital India is an empowered India,” the NBF stands as more than an infrastructure project—it’s a reimagination of governance built on verified truth and transparency. As the framework expands, India is poised to witness governance that’s faster, verifiable, citizen-driven, and inherently trustworthy—anchored by a digital backbone designed for trust. Source: DD News

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India Post to Resume All Postal Services to the U.S. from October 15

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The Department of Posts has announced that all categories of international postal services to the United States will resume from October 15, marking the end of a nearly two-month suspension. Postal operations to the U.S. were halted on August 22 due to new regulatory changes introduced by the U.S. Customs and Border Protection (CBP) under Executive Order 14324, which removed de minimis exemptions and required new duty collection procedures. Following extensive technical upgrades, trial runs, and coordination with CBP-approved Qualified Parties, India Post has now implemented a Delivery Duty Paid (DDP) system. This mechanism ensures that customs duties are collected upfront in India during booking, streamlining the process and allowing packages to reach recipients in the U.S. without any additional charges or delays at customs. As per CBP’s updated guidelines, all postal consignments from India to the U.S. will now be subject to a flat customs duty of 50% on the declared FOB (Free on Board) value. However, postal exports will remain exempt from base or product-specific tariffs typically applicable to courier or commercial shipments. This simplified structure aims to benefit MSMEs, artisans, small traders, and e-commerce exporters, making postal exports a more affordable and efficient option for cross-border trade. Notably, India Post will not charge any extra service fees for the DDP process or Qualified Party facilitation. Existing postal rates remain unchanged, preserving the cost advantage for exporters. Customers can now send EMS, Air Parcels, Registered Letters/Packets, and Tracked Packets to the U.S. through any Post Office, International Business Centre (IBC), Dak Ghar Niryat Kendra (DNK), or via the official website www.indiapost.gov.in. Source: DD News

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SEBI Collaborates with UIDAI and RBI to Enable Remote KYC for NRIs

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The Securities and Exchange Board of India (SEBI) is in advanced discussions with the Unique Identification Authority of India (UIDAI) and the Reserve Bank of India (RBI) to introduce a secure remote KYC (Know Your Customer) process for non-resident Indians (NRIs). The initiative, which is currently in the testing stage, aims to allow NRIs to complete KYC verification without the need to physically visit India. SEBI Chairman Tuhin Kanta Pandey described the move as a key priority for the regulator, stating, “This will be a major development once implemented, as it will simplify market access for NRIs.” He made these remarks while addressing an event organised by the BSE Brokers Forum (BBF). Pandey also outlined SEBI’s efforts to strengthen market surveillance, noting that the regulator is transitioning from “reactive supervision to predictive oversight.” He revealed that SEBI has revamped its data warehouse systems to incorporate advanced rule-based alerts designed to detect pump-and-dump schemes, bulk trade manipulations, and other fraudulent activities. Highlighting the regulator’s data-driven approach, Pandey said that such manipulative trading patterns are often traceable through analytics, and the upgraded surveillance infrastructure will enable SEBI to act more proactively. In addition, SEBI is working on a safety net mechanism for depository participants (DPs) to handle outages more effectively—similar to safeguards currently in place for stock brokers. “We are examining a system where, in case of a DP outage, issues can be managed at the depository level,” Pandey explained. On the foreign portfolio investor (FPI) front, SEBI plans to streamline registration further. “The FPI registration process is our window to the world. If that window is clogged with operational hurdles, it loses its clarity. The goal is not to increase risk but to simplify and modernize,” Pandey remarked. He reaffirmed SEBI’s continued focus on investor protection, particularly against cyber fraud and misleading financial advice from unregistered influencers. At the Global Fintech Fest (GFF) 2025 last week, Pandey also highlighted SEBI’s technology-driven reforms, including the Investor Risk Reduction Access Platform and a Unified Investor App, which have enhanced transparency and ease of access. These tools consolidate investor holdings, transaction histories, e-voting, and proxy advisory information under one interface. Pandey added that grievance redressal has also become more efficient through the integration of the Digital Locker system and an upgraded SEBI Complaints Redressal System (SCORES), further reinforcing the regulator’s commitment to a safer, more transparent market ecosystem. Source: IANS

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FM Nirmala Sitharaman Launches Nationwide Drive to Return ₹1.84 Lakh Crore in Unclaimed Assets

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Finance Minister Nirmala Sitharaman on Saturday unveiled a major national campaign aimed at returning nearly ₹1.84 lakh crore worth of unclaimed financial assets to their rightful owners. These funds are currently lying idle across banks, the Reserve Bank of India (RBI), insurance companies, mutual funds, provident fund accounts, and other financial institutions. The three-month-long initiative focuses on creating public awareness and simplifying the process for individuals and families to reclaim their lost or forgotten assets. “These unclaimed amounts are not the government’s property — they belong to citizens,” Sitharaman emphasized, noting that people have long demanded action to recover such funds from entities like the RBI or the Investor Education and Protection Fund (IEPF). Explaining the reasons behind unclaimed assets, she said they often result from missing documents, untracked policies, or lack of awareness, describing the situation as “a ripe fruit hanging within reach but not yet claimed by those it belongs to.” The campaign is structured around three core pillars — Awareness, Access, and Action. Awareness: Educating citizens about the existence of unclaimed money. Access: Enabling easier tracking through the RBI’s UDGAM portal. Action: Ensuring officials follow up on even the smallest clues to help people reclaim their assets. Reassuring the public, the Finance Minister said the funds remain safe and are merely held in custody by the government and financial institutions, not owned by them. “Whether with banks, SEBI, or any other body, the money is securely maintained,” she said. Unclaimed deposits are transferred to the RBI, while unclaimed shares and securities are moved to the IEPF. The government aims to use this drive to reconnect individuals with their financial assets and enhance public trust in the country’s financial ecosystem. Source: TNN

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MoPR to Launch Nationwide ‘Sabki Yojana, Sabka Vikas’ Campaign on Oct 2 to Strengthen Grassroots Planning

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The Ministry of Panchayati Raj (MoPR) is set to launch the nationwide “Sabki Yojana, Sabka Vikas” campaign on October 2, kicking off the People’s Plan Campaign (PPC) 2025–26 for preparing Panchayat Development Plans (PDPs) for 2026–27. First introduced in 2018, the initiative has helped Panchayats draft inclusive, evidence-based, and convergent development plans in line with both local needs and national objectives. As per data available on the eGramSwaraj portal, more than 18.13 lakh development plans have been uploaded since 2019–20, including 2.52 lakh plans under the current 2025–26 cycle. On September 26, Additional Secretary Sushil Kumar Lohani reviewed the readiness of States, Union Territories, and State Institutes of Rural Development in a virtual meeting. The MoPR has instructed States/UTs to strengthen monitoring systems, appoint nodal officers, train facilitators, finalize Gram Sabha schedules, and ensure public information boards are displayed before the end of September. The campaign will commence with Special Gram Sabhas on October 2, where past plans will be digitally reviewed through platforms such as eGramSwaraj, Meri Panchayat App, and Panchayat NIRNAY. Villages will also identify and prioritize incomplete projects funded under Central Finance Commission grants. Planning will be guided by the Panchayat Advancement Index (PAI) and supported by digital tools like SabhaSaar, with a push towards improving Own Source Revenue (OSR) and expanding community involvement. A special focus will also be placed on tribal empowerment through the Adi Karmayogi Abhiyaan. According to the ministry, this exercise is designed to strengthen participatory democracy, enhance transparency and accountability, and ensure better service delivery at the grassroots, reinforcing the role of Panchayats as vital institutions of rural governance. Source: DD News 

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PM Modi on GST reforms: “Savings festival to bring smiles to every household”

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Prime Minister Narendra Modi on Monday praised the rollout of the new Goods and Services Tax (GST) reforms, describing them as a step that will reduce expenses and spread happiness across homes. Speaking during his visit to an exhibition in Itanagar, Modi interacted with local traders and retailers, emphasizing how the changes would ease financial burdens. Sharing newspaper headlines on social media platform X, he wrote, “From markets to households, GST Bachat Utsav brings a festive buzz, ensuring lower costs and brighter smiles in every home!” The revised GST structure, which came into effect on September 22, coinciding with the start of Navratri, replaces the earlier four-tier system of 5%, 12%, 18%, and 28% with a simplified two-rate model of 5% and 18%. The government projects that these changes, along with earlier income tax reliefs, could result in national savings of ₹2.5 lakh crore. In his address on Sunday, Modi highlighted that the reforms would empower farmers, youth, women, shopkeepers, small traders, and entrepreneurs. He stressed that MSMEs stand to gain significantly, with higher sales and reduced tax liabilities creating a “double bonanza.” The Prime Minister also urged citizens to prioritize Indian-made products, stating that self-reliance and pride in local goods will accelerate the nation’s progress. Source: Hindustan Times

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