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viability gap funding (VGF) for 1,000 MW of offshore wind energy projects to be developed by the end of FY32 with an outlay of ₹6,853 crore. The contracts for the projects--to be developed off the coast of Gujarat and Tamil Nadu--will be awarded through international competitive bidding by the ministry of new and renewable energy through the Solar Energy Corporation of India. The outlay for the capacity addition was approved by the Cabinet in June. As per the proposed guidelines, the successful bidder or bidders will get to sign a power purchase agreement with a fixed tariff of ₹4.5 a unit for capacity in Gujarat and ₹4 a unit in Tamil Nadu. Bidders will be required to make technical and financial bids, and the lowest quoted VGF will get the highest capacity.

HG Infra Engineering shares jumped over 5% to Rs 1,579 in Friday's intraday trade on BSE after the company received an order worth Rs 716 crore from Central Railway. The contract involves constructing a new broad gauge line between Dhule (Borvihir) and Nardana in Maharashtra, covering approximately 49.45 km. The project, to be executed under the engineering, procurement, and construction (EPC) model, has a timeline of 30 months.

Startup Awards (ETSA) have captured the ever-changing world of technology and digital India as the sector has grown from infancy to the stage of spawning multiple publicly-traded corporations. Having seen multiple cycles of a funding boom followed by a tech winter, the awards are a true testament to the way Indian entrepreneurship has matured in the past decade, despite many crests and troughs. But what goes behind selecting the nominees and the winners of The ET Startup Awards, considered the most prestigious in the Indian entrepreneurial ecosystem? June: ET reached out to over 200 of the country’s top entrepreneurs, investors, industry groups and other stakeholders to compile a list of the brightest entrepreneurial talent.

eyewear retailer Lenskart bagged the prize for Startup of the Year 2024 surging ahead of competition on the back of strong revenue growth and for crafting a new business model in a primarily unorganised sector. The ten-member jury chose Lenskart, which is currently valued at $ 5 billion, over publicly listed general insurer Go Digit in a keenly contested round where the relative merits of both companies were discussed in detail.

Social Enterprise category focused on two critical issues plaguing society at large--waste management, which Saahas Zero Waste is trying to solve, and Haqdarshak, which aids citizens in accessing government schemes and benefits. The elite jury voted for Haqdarshak as the winner after two rounds of discussions, weighing in on both the nominees and how they are making an impact on society through their businesses. The Social Enterprise category recognises a startup that best embodies the ‘double bottomline’ model of combining profits and public good.

best investor this year witnessed jury members prize the conviction of venture investors who not only spot business ideas early on but stay on with an entrepreneur in the long journey of building a company. They also assigned great value to investors who took the call to exit companies at the right time, providing cash returns consistently to their sponsors.

Hardika Shah a standout contender for the ET Startup Awards jury in the Woman Ahead category. Shah founded Kinara Capital, a non-banking financial company, in 2011 to drive financial inclusion for small businesses and emerged as the jury favourite because of her ambition to solve a significant problem in the lending space.

ClaimBuddy and Khageshvara Aviation Technology took an early lead as the ten-member ET Startup Awards jury deliberated on the Best on Campus category. Finally, after two rounds of discussions and a secret voting, ClaimBuddy emerged as the winner, edging out aerospace and urban mobility startup Khageshvara.

Lenskart bagged top honours at the 10th edition of India’s most prestigious awards for entrepreneurship — The Economic Times Startup Awards (ETSA). A high-powered jury led by Infosys cofounder and chairman Nandan Nilekani picked the Gurgaon-based company as the Startup of the Year at a meeting in Bengaluru on Wednesday. The award recognised Lenskart’s success in building a fast-growing, large-scale, omnichannel consumer retail venture while creating an entirely new category, the jury noted. The 10-member jury chose eight winners from a shortlist of 41 contenders after deliberating for over 2.5 hours.

Comeback Kid category, the ET Startup Awards 2024 jury aimed to recognise enterprises that have demonstrated resilience and adaptability in the face of external challenges. The 10-member jury’s focus was on ventures that have come out stronger through the Covid-19 pandemic.

Texas-based snacks maker Frito-Lay will be a global sponsor for the next World Cups in men’s and women’s soccer

Norfolk Southern said Thursday that its new CEO’s salary will jump to $1 million now that Mark George has been promoted from chief financial officer, and he will be eligible for a $2.25 million bonus and significant stock awards for performance

Two private power companies in Puerto Rico have come under scrutiny while presenting plans to stabilize the island's crumbling electric grid as officials demanded immediate action to minimize chronic power outages

road contractors, the ministry of road transport and highways have mandated 100% inspection check of quality tests undertaken by contractors in the engineering procurement and construction (EPC) mode of contract by authority engineer for all highway projects as well as for the request for proposal (RFP) document for consultancy services for such projects. This will apply to all road and bridge construction under EPC mode and will kick in for new projects. The EPC mode of contract gives the entire responsibility of design and construction to the contractor and therefore has a longer defect liability period cum maintenance period of 5-10 years. “Considering the current practices in highway projects and greater emphasis on meeting strength and serviceability requirements in respect of components of a highway project over respective design periods, modifications have been made to the model EPC agreement and RFP for consultancy services for authority’s engineer for supervision of EPC projects,” the ministry said in a notification on Thursday.

Vir Das will host the 2024 International Emmy Awards, organised by the International Academy of Television Arts and Sciences. The actor from 'Call Me Bae' made the announcement on his Instagram handle. This year’s Emmy Awards ceremony will take place on November 25 in New York City. Das will become the first Indian to host the prestigious event. Sharing the news and his excitement on social media, Das wrote, «Thanks to your support, an Indian Emmy Host. I can’t wait to host the @iemmys this year! Crazy. Thank you for having me. Tremendously honored and excited!» Actor Hrithik Roshan commented on his post, «Wow. That’s amazing. Very well done.» Actress Shweta Tripathi reacted, «Whoaaaaaaa, this is absolutely amazing!!! Shall be watching.»

Tony Attanasio, a baseball agent since before the start of free agency whose clients ranged from Bobby Valentine to Ichiro Suzuki, has died

Having outlined the desire to introduce ‘fiscal lock' legislation in the King's Speech in July this year, the Act «contains a fiscal lock to ensure that any major future fiscal announcement will be subject to independent assessment», the Treasury noted.  King's Speech lays out more powers for the Office for Budget Responsibility This will mean that the Office for Budget Responsibility (OBR) will be awarded power to make an independent assessment of significant announcements regarding tax, spending, or a flurry of announcements within a single financial year which amount to permanent t...

The MTV Video Music Awards return Wednesday night with a whole lot of Taylor Swift

NIA court. The explosions took place in and around the Gandhi Maidan here during an election rally addressed by Narendra Modi, who was then the Gujarat chief minister and the BJP's prime ministerial candidate. Talking to PTI, NIA special public prosecutor Manoj Kumar Singh said, «The division bench commuted the death sentence awarded to four persons convicted in the 2013 serial blasts at Gandhi Maidan to 30 years of imprisonment. The four are Haider Ali, Noman Ansari, Mohd Mujibullah Ansari and Imtiyaz Alam».

IIFA 2024 pre-event in Mumbai, a heartwarming moment involving Shah Rukh Khan and South Indian actor Rana Daggubati became the highlight of the evening. During the event, Rana Daggubati walked up to the stage, greeted Shah Rukh with a warm hug, and then bent down to touch Shah Rukh Khan’s feet in a show of deep respect. He also extended the gesture to Karan Johar, who was on stage alongside Shah Rukh. Shah Rukh, visibly touched by the act, made a playful remark, saying, «This is how the new generation shows respect.» Smiling, Rana explained, «We are fully South Indian, so this is how we do it.» The candid exchange, filled with mutual admiration, left both Shah Rukh and Karan beaming, while the audience erupted in applause. Fans quickly took to social media, praising Rana's gesture. One fan commented, «South Indians are known for their deep-rooted respect and culture,» while another added, «Such a wholesome moment – SRK is the one everyone loves.»

Vibhor Singhal, Director, Nuvama, says whenever a new tech trend pops up, industry experts seem to predict the end of Indian IT, almost like they're writing its eulogy. But time and again, these companies manage to rise from the ashes, leveraging these disruptions for growth. Gen AI will likely follow the same path. The next couple of years will be a testing ground filled with proof of concepts and smaller initiatives. However, as technology evolves and becomes more mainstream, and as businesses get a grip on its advantages and drawbacks, Indian IT firms will rebound and reclaim their market presence. The basic sectoral stance that you have on IT is doubling down on a positive stance. What is making you so positive? Vibhor Singhal: Our stance on the IT sector has been positive for the past two years. We have maintained that the demand environment remains quite strong, which is visible in the deal flow that we have seen over the past two years, despite the macro headwinds the sector has witnessed. What was missing in the sector was the deal flow to revenue conversion, which of course had multiple points, two of them majorly being the new deals being awarded were delayed in execution and the older deals that were there in the pipeline of the companies, the discretionary part of that was being put on hold.