Revised RBI’s priority sector lending norms to further boost economy: SBI reportIANS
The recent amendments in priority sector lending (PSL) guidelines by the Reserve Bank of India (RBI) should further help the economy grow faster and fine tune the building blocks of the factors of productions, mainly the MSMEs, agri and allied sectors, housing and exports, etc, a report by SBI Research said on Wednesday.
The RBI this week issued revised guidelines on PSL to facilitate better targeting of bank credit to the priority sectors of the economy. The new guidelines will come into effect from April 1.
According to the report, the revised PSL guidelines cater to enhancement of several loan limits, including housing loans, for enhanced PSL coverage and broadening of the purposes based on which loans may be classified under ‘Renewable Energy’.
There is also a revision of the overall PSL target for urban cooperative banks (UCBs) to 60 per cent of Adjusted Net Bank Credit (ANBC) or Credit Equivalent of Off-Balance Sheet Exposures (CEOBSE), whichever is higher.
“The higher limits set in housing segment should give a fillip to low cost/affordable housing across various population cohort, in particular tier-IV/V/VI cities wherein the banks, along with non-bank players, can find their next gold mine given the surge in demand for own/individual housing post pandemic,” the report noted.
Explicit recognition and prioritisation of renewable energy within the PSL framework has alleviated credit constraints, thereby escalation in the share of non-conventional energy credit to the overall energy credit, encouraging credit flows to the NCE sector that witnessed significant policy interventions too, the SBI report mentioned.
Revised RBI’s priority sector lending norms to further boost economy: SBI reportIANS
“As big banks continue facing problems in achieving PSL targets, it would be a prudent move to include all infrastructure loans given to Road projects, Port, Railways, Airports, Energy Sector Highways, etc. either as priority sector status or be exempt from calculation of ANBC for PSL achievement in line with infra bonds raised towards funding of infrastructure and affordable housing,” according to the report.
The RBI has also increased the loan limit for the repairs of damaged dwelling units in the revised circular.
This opens new opportunities for credit disbursement for FIs in one of the most secured niche areas, also lessening the burden on home-owners in search of liquidity to carry over the necessary repairs of their dwelling units in need and thus opens up a substantial market for credit off take, the report said.
With its 500 GW non-fossil fuel installed capacity target for 2030 and Net Zero target for 2070, India has embarked on one of the most extensive renewable energy expansions in the world.
On July 1, 2015, RBI had expanded the ambit of PSL norms to include loans up to Rs 15 crore to borrowers for purposes like solar-based power generators, biomass-based power generators, continue, micro-hydel plants and for non-conventional energy (NCE) based public utilities.
The limit was subsequently raised to Rs 30 crore per borrower on September 4, 2020.
In the recent guidelines, the limit was raised to Rs 35 crore per borrower. For individual households, the loan limit will continue to be Rs 10 lakh per borrower.
“Though the increase of Rs 5 crore appears to be small as compared to the revision made in last 2020 (five-year period), the small policy interventions definitely will go long way, for the NCE sector, to achieve dual objective of clean energy and PSL by boosting lending to the sector,” said the SBI report.
As per a SEBI mandate, physical settlement is compulsory if a trader holds a position in any Stock F&O contracts on expiry date.
What is Physical Settlement?
In a Stock F&O contract, when there is an open position that has not been squared off by its expiry date, Physical Settlement takes place. This implies they have to physically give/take delivery of Stocks to settle the open transactions instead of settling them with cash. Examples of physical settlement: Futures
Long positions of 1 lot of Reliance, 250 quantity at Rs. 2000 i.e. Rs. 5 lakh contract value F&O = 20% charges i.e. Rs. 1,00,000. This means, you are required to give Rs. 1 lakh, but if you decide to physically settle then you need to have a complete contract value of Rs. 5 lakhs.
Short positions of 1 lot Reliance 250 quantity at Rs. 2000 i.e. Rs. 5 lakh contract value F&O = 20% charges i.e. Rs. 1,00,000. This means, you are required to give Rs. 1 lakh, but if you decide to physically settle then you need to have the holdings of 250 quantity of Reliance and Rs. 1 lakh margin money till expiry date.
Options
Long – 1 lot of Reliance, 250 quantity for strike price of Rs. 2000 Call (CE) Options. If the underlying price of Reliance is greater than the strike price of Rs. 2000, then the contract is said to be ITM (In-The-Money). If you wish to go for physical settlement, you need to maintain a free ledger balance of Rs 5 Lakh in your account, else physical settlement would not be done.
Long – 1 lot of Reliance, 250 quantity for Strike price of Rs. 2000 Put (PE) Options. If the underlying price of Reliance is lesser than strike price of Rs. 2000, then the contract is said to be ITM (In-The-Money). If you wish to go for physical settlement, you need to provide the Stocks (shares) equal to the lot quantity positioned to be available in Demat account, else physical settlement would not be done.
Please note —
– Short ITM PE options, treatment would be similar to Long ITM CE options. Free ledger balance equal to the contract value to be maintained. -Short ITM CE options, treatment would be similar to Long ITM PE options. Holdings shares of lot quantity positioned to be available in Demat account.
What is the process for Physical Settlement on Upstox? To opt for physical settlement on Upstox, you need to provide your consent first and here are the details for the same:
-To provide your consent for physical settlement of open Stock F&O contract(s) with March 2025 expiry visit the ‘Profile’ section on your Upstox account on our App / Web and give your consent from here beforeEOD on Tuesday, 25 March 2025.
-Based on your consent, Upstox will evaluate whether your position qualifies for physical settlements and if there is sufficient ledger balances / holdings (whichever applicable) is available.
-Kindly, plan your trades keeping in mind that you will not be able to trade in fresh positions in the current March 2025 expiry F&O contracts from Wednesday, 26 March 2025
-Correspondingly, position conversion(s) on carry forward of any stock futures positions shall also not be permitted.
What other impact could this have on your positions? Your position will automatically be squared-off on expiry day at 12:00 PM in case:
-You have not provided your consent for physical settlement
-You provided your consent for physical settlement and do not have Ledger Value (equal to contract value) / holdings available for the physical settlement of your positions.
-In a case of funds / holdings not being available for all the open positions, we will execute square offs for all the positions. Thus no partial funds / holdings evaluation for the expiring positions will be considered by our team.
What else to keep in mind? Delivery margins would be applicable as per Exchange norms on all the existing long ITM (In The Money) stock option positions in a staggered manner as explained below:
-10% of delivery margins computed on expiry -4 days EOD (Friday)
-25% of delivery margins computed on expiry -3 days EOD (Monday)
-45% of delivery margins computed on expiry -2 days EOD (Tuesday)*
-70% of delivery margins computed on expiry -1 day EOD (Wednesday)*
-To avoid margin shortages, Upstox would be blocking such (above mentioned) delivery margins from Beginning of the Day (BOD) instead of End of the Day (EOD).
-If the positions are not squared off for any reason (e.g: non-liquidity), then the contract would have to be settled physically and you would be liable to pay the entire amount of the settlement.
* If you have opted for physical settlement, you would be required to fulfil the entire funds (contract value) / holdings requirement by EOD on Tuesday, 25 March 2025.
In case of spread contracts, you are advised to provide margins for both the legs since the risk of one leg square off by you anytime would result in physical settlement of the other leg.
Brokerage in Physical settlement:
Since there is a substantial increase in effort and risk to settle these F&O positions resulting in physical delivery, if F&O positions result in physical delivery brokerage will be 0.25% of the physical settled value. For all the netted off positions brokerage will be 0.1% of the physical settled value. All physical settled contracts (Futures & Options) will also carry an applicable Exchange charge.
And that’s all. Keep a watchful eye on this page for more updates from Upstox!
Okaya EV recently re-branded itself to OPG Mobility.Anshul Gupta, Managing Director of OPG Mobility, shares the company’s vision for its EV business, which includes e-2Ws, 3Ws, battery packs, powertrain components and EV chargers. We also discuss the recent rebranding to create a distinct identity for the EV business, separate from the battery-centric Okaya brand.
What was the thought behind the recent rebranding from Okaya EV to OPG Mobility?
Over the years, as we built our EV business and its ecosystem, we realized that the brand needed to connect with end consumers in the automotive segment while also distinguishing itself from our parent brand, Okaya, which is well-known for batteries and has a strong presence in the industry.
While Okaya’s reputation helped attract customers, positioning an independent automotive brand under the same name proved challenging.
To address this, we strategically created two distinct brands under the OPG flagship – Ferrato as a dedicated 2W brand and OPGOTTO for 3Ws. These brands have separate distribution networks, unique product lines, and a well-defined roadmap.
Okaya, as a battery brand, will continue its independent journey.
When you first entered the EV space, what kind of synergies from your legacy businesses helped drive your progress?
As a group, we have been in the electronics industry for a long time—Microtek is now a 38-year-old company. Along with electronics, we have also been involved in various IT ventures and are well known for our battery business, particularly lead-acid batteries. We started the lithium battery business back in 2016-17, even before the EV revolution had truly begun.
Microtek dealt with AC-to-DC conversion—just like inverters for lead-acid batteries—and it was the right time for us to explore the EV charging station space. From there, we moved toward the transition from lead-acid to lithium-ion batteries, which was happening gradually. Our experience in batteries proved invaluable.
EVs are primarily about batteries, with electronics and software playing significant roles and mechanical components making up the rest. Since our group had expertise in all these areas—IT, batteries, mechanical, and electronics—venturing into EVs in 2019 made perfect sense.
It also helped that we had in-house talent from our existing businesses, which we combined with market expertise to develop a product line after two years of research and development. Our commitment to LFP chemistry defined our scooter strategy, making us one of the first companies to introduce LFP battery based scooters with dual-battery options and multiple kilowatt-hour variants within the same model.
You offer charging solutions and EV batteries, along with your vehicles in the 2W and 3W segment. What is your overall vision for the e-mobility business as a group?
We aim to leverage our ecosystem to lower the TCO for Indian consumers and the markets we are targeting, ensuring sustainable growth and greater market penetration.
Our e-mobility business is structured into five key areas: two-wheelers, three-wheelers, EV components, EV charging, and energy storage.
The two-wheeler, three-wheeler, and component businesses naturally complement each other.
The EV charging products also cater to the four-wheeler, truck, and bus sectors—areas where we have no plans to manufacture vehicles. Our focus is on highway EV chargers. Additionally, we are working with stakeholders to deploy AC chargers for home and community charging. There is increasing demand from North America, the Middle East, and Southeast Asia, and we plan to capitalize on exports in the coming years.
We are concentrating on battery-based energy storage systems, including battery-plus-UPS and battery-plus-inverter solutions for commercial, industrial, and residential applications. Since 2018, we have been deploying and testing energy storage solutions. Now, the priority is to scale these businesses aggressively.
With component manufacturing facilities, EV assembly lines for three-wheelers and their parts, and an increasingly stable industry framework—especially with government support for CCS2 and AC Type 2 chargers—the foundation is strong. The next phase is about scaling our operations to make a lasting impact.
When you mention the EV components business, apart from batteries, what other components are you currently offering?
In the L2 category, we manufacture motors, controllers, TFTs, and speedometers—both TFT-based and analog-segmented versions. Additionally, we produce wire harnesses, frames, and plastic parts. Among these, we have opened up certain components to the market, including batteries, chargers, motors, and controllers. We are also in discussions with strategic partners for plastic molding and painting, as we have our own paint shop, along with frame manufacturing.
For the L3 segment, we are involved in battery manufacturing, motor, controllers, chargers, and frames. The core powertrain components are available for other OEMs and the aftermarket. While we have yet to fully localize these components at our own facility, we are currently working with third-party manufacturers. As of now, we are focused on battery chargers, but we plan to expand into motor controllers as well.
Our EV component business is open to supplying to other OEMs. We have batteries for both 2Ws and 3Ws, along with distribution and aftermarket solutions. Initially, our focus was on refining battery designs, leveraging insights from having 60,000 to 70,000 scooters (including low-speed) and over 20,000 lithium-ion batteries for 3Ws on the road. Now that we have successfully optimized our batteries for both 2Ws and 3Ws, we have reopened our offerings to the market.
For different e-mobility businesses, where are your manufacturing facilities located?
Our manufacturing operations are spread across 45 acres in Himachal Pradesh.
One of our main plants, covering 15 to 18 acres, focuses on components such as powertrain systems, lithium-ion batteries, energy storage batteries, and EV chargers. This facility operates on a ‘plant within a plant’ concept, with dedicated teams and subject matter experts managing different manufacturing zones.
Our two-wheeler vehicle assembly unit is about two kilometres away.
Around five km from the component plant, we have another facility dedicated to frame manufacturing. This fully robotic plant produces scooter frames and e-rickshaw frames, including coating processes.
Our fourth location houses plastic parts manufacturing and the paint shop.
We are also in the process of establishing a fifth unit for three-wheeler manufacturing. We are considering shifting this segment from Himachal to locations like Uttar Pradesh, Rajasthan, or Haryana to optimize logistics costs and improve margins. Currently, our three-wheelers are manufactured in Himachal within our main component facility.
What is the overall team strength for your e-mobility business across all segments?
We have 489 employees on our payroll. If we include contractual workers as well, our total workforce ranges between 800 to 1,000. We also operate an overseas R&D unit, which is included in this count.
Could you talk about the level of localization? What are key import dependencies?
We have applied for a patent registration for our design for EV chargers. We have supplied nearly 1000 DC chargers to the market. The total count of our chargers in the market is neatly 3,500 units, all designed in-house, including components, control cards, and boards. PCBs are sourced from India, and mounting is done in-house with our assembly line. Some strategic components, such as microcontrollers, are sourced externally. Our localization level exceeds 85%, with the only remaining dependencies being rectifiers and screens as per the PMP guidelines. The charging guns have been localized as well.
For the 2W segment, we have achieved over 84% localization, excluding the cells. This is due to the in-house moulding of frames, plastic parts, motors, controllers, and other key components. The entire motor manufacturing process, from winding to assembly, is done in-house for BLDC motors, while mid-drive motor winding is planned for localization as volumes scale up. Controllers are manufactured internally, while some chargers are sourced from Indian partners meeting the PM E-drive scheme qualifications.
For the 3W segment, most components are localized. Cells are imported, but chargers, motors, and controllers are either manufactured in-house or sourced from Indian partners. Only for e-rickshaw, certain parts are imported directly, other that than, all parts are domestically sourced.
How was the year 2024 for you, and what numbers do you expect for this year?
Last calendar year, 2024, we saw a decline in numbers for the two-wheeler category, both in high-speed and low-speed segments. We have been actively working on identified areas to rebuild and scale our volumes.
To revive two-wheeler sales, we have made strategic changes in how communication, marketing, and retail operations function and distribution strategies. Strengthening relationships with dealerships is key, so we are engaging with them directly, ensuring their concerns are addressed. We have already started seeing results—our retail numbers for high-speed and low-speed two-wheelers doubled in February compared to the previous month.
For three-wheelers, we officially began retail operations just two months ago after a trial phase to test dealership viability. Now, dealerships are achieving returns on investment.
Unlike our rapid expansion in the two-wheeler business—where sales didn’t always meet expectations—we are following a phased approach for three-wheelers. This year’s key focus is ensuring profitability for our distribution partners while maintaining an optimal total cost of ownership for the end consumer.
In terms of overall numbers, last year was not as encouraging as the previous one. However, our goal for this year is to scale up significantly, attract investments, and onboard a financial partner to infuse capital into the business. We have clear applications for these funds and aim to grow the business towards an IPO route in the future.
With respect to your plans to scale the distribution network, what kind of on-ground presence are you targeting?
In the two-wheeler space, we currently have around 300 network partners, and our goal is to scale this up to approximately 550. When it comes to deeper market penetration, including sub-dealers, the average ratio is about 4 per main dealer. This means the total touchpoints should be between 1,800 to 2,000, including the sub-dealer network. Our first priority remains ensuring the viability of our existing dealerships. Some are already profitable, while others need additional guidance, which we are actively offering.
For three-wheelers, we have set a target of establishing around 190 principal dealership partners in the L3 and L5 segments.
Hero MotoCorp Ventures into Electric Three-Wheeler Market with Strategic Investment in Euler Motors
Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, has announced a strategic investment of up to Rs. 525 crore in Euler Motors Private Limited, marking its entry into the electric three-wheeler segment. The investment, approved by Hero MotoCorp’s Board of Directors on March 20, 2025, underscores its vision to “Be the Future of Mobility” and diversify its portfolio in sustainable transportation. The acquisition is expected to conclude by April 30, 2025.
Key Highlights of the Investment:
Stake Acquisition: Hero MotoCorp will acquire approximately 32.5% of Euler Motors on a fully diluted basis through a mix of primary and secondary investments.
Market Opportunity: Euler Motors, founded in 2015, operates in over 30 Indian cities and specializes in designing, manufacturing, and servicing electric three-wheelers. It recently launched an electric commercial four-wheeler. The company reported a turnover of Rs. 172 crore for the fiscal year ending March 31, 2024.
Growth Potential: Electric vehicles (EVs) are projected to account for 35% of total three-wheeler sales in the near future, positioning Hero MotoCorp to capitalize on this emerging trend.
Dr. Pawan Munjal, Executive Chairman of Hero MotoCorp, stated, “This investment reinforces our commitment to innovation and sustainability. By partnering with Euler Motors, we aim to strengthen our leadership in the future of mobility while unlocking adjacent business opportunities.”
New Delhi: Showcasing India’s growing role in the global supply chain, exports of auto components have shown robust growth in the past couple of years. Also, major exports destinations for motorcycle parts are Germany, Bangladesh, the US, the UK, the UAE, Brazil, Turkey, Sri Lanka and others.
This highlights India’s increasing global market presence and reduced dependence on imports. According to industry experts, India’s auto component industry can target $100 billion in exports, as global original equipment manufacturers (OEMs) reassess their supply chains and manufacturing strategies, presenting India with an optimal opportunity to establish itself as a top global destination.
The auto component exports reached $21.2 billion in FY24, marking a significant turnaround from a $2.5 billion deficit in FY19 to a $300 million surplus.
“A Bend In The Road Is Not The End Of The Road, Unless You Fail To Make The Turn.” – Helen Keller
Preamble
The history of roads stretches back as far as human civilization itself. From the moment early humans ventured out of their caves, the need for paths to navigate their environment began to emerge. Initially, these pathways were rudimentary, shaped by the natural terrain and the movement of people and animals. As societies grew more complex, these paths evolved into more structured and formal routes. With the invention of the wheel, the scope of travel expanded exponentially, allowing people to journey across greater distances and explore larger areas. This transformation marked a significant leap in human mobility.
However, the true revolution in road systems came with the rise of automobiles in the early 1900s. The widespread use of motor vehicles radically changed how people travelled, necessitating a complete overhaul of the existing infrastructure. Roads, which had previously been designed for foot traffic and horse-drawn carriages, now had to accommodate the speed and volume of modern vehicles. This shift fundamentally reshaped the transportation landscape, making the road system integral to the mobility revolution.
Today, we stand on the brink of another major transformation driven by the rise of smart cities. Smart cities leverage cutting-edge technologies to create more efficient, sustainable, and liveable urban environments. Among the many technical factors shaping this transformation—such as advanced connectivity, cloud computing, data analytics, sensors, the Internet of Things (IoT), and artificial intelligence—one of the most significant areas of focus is the modernization of road infrastructure.
Smart roads are at the heart of this transformation. These roads are being designed and built to integrate seamlessly with new technologies that enhance mobility, safety, and sustainability. For example, sensors embedded in the road can collect data in real time, providing information about traffic conditions, weather, and road wear. This data can be used to optimize traffic flow, reduce accidents, and improve overall transportation efficiency. In addition, smart roads are designed to work with electric vehicles, offering charging stations along the route and incorporating renewable energy sources like solar panels to power infrastructure.
As part of the broader concept of smart cities, these advancements in road technologies are not just about making roads safer and more efficient; they are about creating a future-ready mobility network capable of supporting the next generation of vehicles, including autonomous cars and smart transportation systems. The roadways of tomorrow will be intelligent, adaptive, and integral to the future of urban mobility, creating a seamless and interconnected transport ecosystem that benefits residents, travelers, and the environment. The future of road infrastructure is not far off, and it will play a critical role in shaping the cities of tomorrow.
Smart Road Technologies
Although society has witnessed dramatic advancements in mobility technologies and a significant increase in the number of vehicles on the road, leading to various traffic issues such as accidents and frequent congestion, roads—despite being the lifeblood of modern societies and economies—are still often seen as traditional civil and structural engineering projects. However, in recent decades, numerous technological innovations have emerged that challenge this conventional view and aim to address the pressing challenges of today’s road infrastructure.
The technology trend in road construction is rapidly evolving toward creating roads more “sensitive to their surroundings”. This is achieved by embedding a variety of sensors into the roads and developing a networked road system that operates with greater efficiency and effectiveness. Such advanced road systems seamlessly integrate into the fabric of futuristic smart cities, becoming an essential part of them. These next-generation roads are being designed by merging cutting-edge technologies—such as sensors, microprocessor chips, and high-end electronics—with traditional road construction methods. These technologies are then connected to a centralized server, enabling real-time communication and data updates.
With these advancements, traditional roads are evolving into smart roads capable of communicating not only with their surroundings but also with the vehicles travelling on them. They harness energy, maintain constant communication with a central server, and provide real-time updates. This dynamic flow of information will be pivotal in improving current traffic management and addressing issues such as congestion, disorganized traffic flow, and accidents. Moreover, these systems can quickly respond to emergencies like stampedes, traffic violations, and accident management. Artificial Intelligence (AI) can further optimize traffic flow by adjusting adaptive traffic lights and coordinating various roadways to ensure smoother vehicle movement.
The data collected through these smart systems can also be utilized for long-term analysis, enhancing road conditions, improving sustainability, and even reducing CO2 emissions by optimizing vehicle and energy use. These developments will not only make roads safer and more efficient but will also play a pivotal role in the transition to greener, more sustainable transportation systems.
We are entering an era where the “information superhighways”—which include connectivity, Internet, and data grids—will merge with physical transportation highways—the roads themselves—creating “living and intelligent roads”. Unlike today’s “dead and dumb” infrastructure, these new roads will interact dynamically with their environment, enhancing every aspect of urban mobility. To better understand this transformation, we need to examine recent advancements in road technology, such as the incorporation of electronics to make roads smart, intelligent, and responsive. Additionally, new technologies for energy harvesting from solar radiation and vehicle movement are helping make roads more sustainable.
While these innovations currently address specific challenges in today’s mobility systems, they represent only the beginning. As new technologies continue developing and integrating with existing infrastructures, they will ultimately create a new mobility ecosystem. In this future world, smart, intelligent, connected, and communicative roads will play an even more critical and central role in shaping how we move, communicate, and interact with our urban environments.
Roads Which Talk To Surrounding (R2X)
While Mobile networks have made significant inroads into the vehicular space, particularly through vehicle-to-vehicle (V2V) communication, which allows vehicles to communicate directly with one another, the broader concept of Road-to-Everything (R2X) is emerging as a key advancement in road communication technologies. R2X extends the communication network beyond vehicles, enabling roads to interact with other objects or entities moving on them or in their vicinity, including pedestrians, bicycles, and even drones. The importance of R2X lies in its ability to enable smart roads to communicate and exchange critical data, such as real-time information on weather conditions, traffic congestion, road conditions, traffic density, and the health of the road itself (e.g., damage, wear and tear). Additionally, R2X can share details like vehicle speed, physical presence, or road usage. This real-time flow of data can be used to send alerts to vehicles about potential hazards or traffic disruptions ahead, giving drivers and automated systems ample time to respond and take preventive measures. Such a communication network not only enhances road safety by helping vehicles avoid accidents but also contributes to the broader goal of improving the efficiency and sustainability of transportation systems. By enabling vehicles to react to real-time data, R2X helps reduce traffic congestion, enhance traffic flow, and optimise routing decisions. Furthermore, it provides opportunities for better accident prevention, more efficient emergency responses, and overall safer driving experiences for everyone on the road. In short, the R2X framework is pivotal in creating an ecosystem where roads are active participants in managing and maintaining road safety, ensuring the smooth operation of traffic, and ultimately contributing to a more intelligent and connected transportation infrastructure.
Musical Roads
Musical roads, a fascinating innovation in road design, are engineered to produce music or tunes when vehicles pass over them at a certain speed. These roads are typically constructed with grooves or rumble strips embedded in the road surface, spaced at precise intervals, which, when driven over, create a rhythmic sound corresponding to specific musical notes. Countries such as Japan, USA, Denmark, Netherlands, Taiwan, and South Korea have pioneered the construction of these roads, creating unique driving experiences that blend functionality with auditory art. The primary purpose of musical roads is to serve as a safety feature. The sound generated by the grooves acts as an alert to drivers, particularly on high-speed roads, to maintain the speed limit or stay within safe driving thresholds. The music is designed to play at the ideal speed, acting as an auditory cue to prevent drivers from speeding. In some cases, the melodies are crafted to enhance driver awareness and encourage safe driving behaviors. Additionally, these roads may also be used in specific areas to warn of hazards such as sharp turns, construction zones, or areas with pedestrian traffic. However, while musical roads can serve as helpful reminders for drivers, they do come with certain challenges. One significant concern is the potential for disturbance to nearby residents, especially at night. The repetitive nature of the sounds can be intrusive, particularly in quieter suburban or rural areas. As a result, many musical roads have been limited to highways, long country roads, or less densely populated areas, where the noise is less likely to disrupt daily life. In some cases, their use has been restricted or limited to specific times of day to mitigate potential disturbances to local communities. The concept of musical roads has been part of a broader trend of integrating artificial sensory features into road design, merging functionality with creativity. While their primary role is safety and driver awareness, they also add an element of innovation that makes driving a more engaging experience. As this technology evolves, future implementations will likely balance functionality with community concerns, potentially incorporating features like volume controls or dynamic sound modulation to reduce noise disturbance while still serving their purpose of improving road safety.
Wireless Digital Traffic Signs
Road signs have been an integral part of traffic management for centuries, serving as essential tools for guiding drivers and ensuring road safety. However, despite their long-standing presence, significant challenges remain regarding their proper placement and the effectiveness with which drivers can read, understand, and respond to them. In countries like India, there are over 110 road signs; in the USA, there are around 60; and in the UK, the number rises to 170. With such a wide array of signs, it can be overwhelming for drivers to remember, interpret, and act on them in real time, especially when navigating unfamiliar roads or under stressful conditions. The advent of smart road technology has provided a solution to many of these challenges by introducing programmable, connected road signs. These smart signs are embedded with chips that can be remotely controlled and connected to a centralized Traffic Management System (TMS). This system enables the dynamic broadcasting of messages to oncoming traffic in real time, ensuring that the correct information is provided when needed. Unlike traditional static road signs, smart signposts can be programmed to update instantly, allowing for more flexible communication with drivers based on current road conditions or emergencies. When a smart sign broadcasts a message, vehicles equipped with receiving units can detect and interpret the signal. This allows the vehicle to alert the driver and take necessary actions, such as slowing down, changing lanes, or preparing for an obstacle ahead. Beyond just displaying a message, these systems also integrate data from a cloud-based traffic analytics system. The cloud system collects and analyzes data from numerous vehicles on the road to predict and provide real-time traffic information, ensuring that the driver receives accurate, context-aware instructions. This additional layer of intelligence helps ensure that the right action is taken, based on not just the signs themselves, but the broader traffic environment. This technology offers several significant advantages. First, it reduces the need for drivers to constantly monitor road signs, especially in situations where visibility is poor, such as during bad weather, night time driving, or blocked roads. By providing alerts directly to the vehicle, the system minimizes distractions and allows the driver to focus on the road. The reliance on the driver’s judgment is also reduced, as the vehicle can help interpret the meaning of the sign and recommend the proper action based on real-time conditions. Additionally, the ability to remotely program and update these signs brings immense flexibility to road management. For instance, in cases of traffic congestion, road closures, or emergency events, the messages on the signs can be quickly adapted to provide up-to-date instructions to drivers. This is far more efficient than physically replacing or adjusting traditional signs. Furthermore, unlike image-processing programs used in some road safety technologies, the use of smart signposts with programmable chips doesn’t require complex algorithms for interpretation, making it easier to deploy and manage across a wide area. Another major advantage is the use of real-time traffic volume data, which can be automatically computed and incorporated into the system. By analyzing data from multiple vehicles, the traffic management system can provide insights into traffic flow and congestion patterns, which can be used to optimize road usage and improve overall traffic efficiency. For instance, when heavy traffic is detected, the system could adjust the signs to provide alternative routes or adjust speed limits to prevent bottlenecks. This intelligent use of data also improves the accuracy of traffic management decisions, helping to reduce delays, increase safety, and enhance the overall driving experience. In conclusion, the integration of smart, programmable road signs with connected vehicles and centralized traffic management systems represents a significant leap forward in traffic management technology. This system not only improves road safety and efficiency but also reduces the cognitive load on drivers by providing them with real-time, actionable information in a seamless and intuitive manner. The shift from static to dynamic, data-driven signage is a key step toward a smarter, safer, and more efficient transportation system for the future.
Roads with Smart Intersections
Road intersections have long been hotspots for accidents due to issues like blind spots, unexpected light changes, and obstructions from vehicles coming from different directions. These challenges complicate a driver’s ability to make quick, informed decisions, increasing the risk of collisions. To address these concerns, the concept of smart intersections has emerged, where technology plays a crucial role in enhancing safety and optimizing traffic flow. A smart intersection integrates multiple sensors installed at each crossroads, which work in tandem with a vehicle’s R2X (Road-to-Everything) connectivity. The “X” in R2X represents any object in the vehicle’s surroundings, including parked vehicles, moving vehicles, pedestrians, buildings, dividers, traffic poles, and more. These sensors continuously monitor the environment, providing real-time data about the intersection and surrounding traffic conditions. By combining this data with the vehicle’s connectivity, a real-time map of the situation is generated and shared with the vehicle and driver, offering crucial information that helps the driver make quick and informed judgments. For instance, the system could alert the driver about vehicles approaching from blind spots, pedestrians crossing, or even a traffic light about to change, helping to avoid potential accidents. In addition to improving driver safety, artificial intelligence (AI) can also be applied to smart intersections to enhance traffic management further. By analyzing data collected from various sensors, smart intersections can assess traffic density, roadway conditions, and current traffic flow in real time. This data allows the system to dynamically adjust traffic signal timings across multiple intersections to optimize the flow of traffic, reduce congestion, and improve overall road efficiency. For example, if there is heavy traffic in one direction, the system could extend the green light for that direction while minimizing wait times for other directions, or it could prioritize emergency vehicles in real-time. This combination of real-time sensor data, vehicle-to-everything (V2X) communication, and AI-driven traffic optimization transforms traditional intersections into highly responsive, intelligent hubs. These intersections not only enhance safety by preventing accidents but also improve the efficiency of urban transportation systems, reducing traffic congestion and enabling smoother commutes. In the future, as smart intersections evolve and become more integrated with broader city infrastructure, they will play a key role in building smart cities. Through constant data sharing, adaptive systems, and connected networks, these intersections will ensure a safer, more efficient, and dynamic driving experience for all road users.
With Fast Emergency Rescue
Road accidents have become one of the most pressing issues globally, escalating with the rise in the number of automobiles on the road. According to the World Health Organization (WHO), approximately 1.3 million people lose their lives every year due to road accidents, and an estimated 20 to 50 million others suffer from physical disabilities as a result. This alarming trend is particularly prevalent in India, where road accidents and related fatalities rank among the highest in the world. A critical factor in improving the survival rate of accident victims is the concept of the “golden hour”—the time period that elapses between the accident and the arrival of medical assistance. This window is crucial, as prompt medical intervention can significantly increase the chances of survival and reduce the severity of injuries. The quicker the response, the better the chances of saving lives and preventing long-term disabilities. With the advent of smart road technologies and the increasing connectivity of vehicles through various communication channels such as R2I (Road-to-Infrastructure), R2N(Road-to-Network), R2E(Road-to-Everything), R2P (Road-to-Pedestrian), R2C (Road-to-Cloud), and R2H (Road-to-Hospital), it is possible to drastically reduce this crucial response time. Through these technologies, automatic crash notifications can be triggered immediately upon impact, along with the geo-location of the accident, which can be sent in real-time to all relevant agencies involved in handling the situation, including emergency responders, medical teams, and traffic authorities. This immediate, data-driven response system has the potential to revolutionize emergency response times. With real-time data being shared, medical teams can prepare ahead of time, ensuring they arrive at the scene fully equipped to handle the injuries. Additionally, this seamless integration of technologies could help direct ambulances to the accident site via the fastest route, bypassing traffic and reducing delays. By leveraging smart road infrastructure and vehicle connectivity, we can drastically improve the efficiency and timeliness of emergency responses, ultimately saving lives and reducing the long-term impact of road accidents.
On-Road Weighing of The Vehicles
With in-built weighing sensors embedded in smart roads, it is now possible to weigh transportation goods carriers while they are in motion. This technology, known as WIM (Weigh-In-Motion), offers a significant advantage by addressing two major concerns: overloading hazards on the roads and the wasted waiting time at traditional weighbridges. In the WIM system, multiple sensors are strategically placed across one or more traffic lanes. These sensors work together to measure various critical parameters, such as axle loading and vehicle loading, in real-time, all while the vehicle remains in motion. This allows for the continuous monitoring of each vehicle’s weight without the need for it to stop or slow down for inspection. As a result, the risk of overloaded vehicles—which can cause damage to road infrastructure and increase the likelihood of accidents due to reduced braking efficiency—is significantly reduced. Furthermore, WIM technology helps eliminate the need for traditional weigh-bridges, which require vehicles to stop and undergo manual weighing. This process often leads to significant delays, especially in high-traffic areas. Automating the weighing process on the move allows vehicles to be monitored seamlessly without disrupting traffic flow, reducing congestion and travel time. In addition to axle and vehicle weight, WIM systems can capture interrelated parameters such as vehicle speed, tire pressure, and even load distribution, offering a comprehensive understanding of the vehicle’s condition. This data can be used for real-time analysis, enabling authorities to flag vehicles that exceed weight limits or display potentially unsafe conditions without impeding traffic. Moreover, this collected data can be sent directly to the relevant authorities, who can take immediate action if necessary. By incorporating Weigh-In-Motion technology, smart roads can contribute to safer, more efficient, and sustainable transportation systems. This innovation not only protects road infrastructure from damage but also enhances road safety and reduces unnecessary delays, creating smoother travel experiences for all road users.
Traffic Violations
As roads become smart, equipped with sensors, communication systems, and connectivity with vehicles, traditional methods of detecting traffic violations may become obsolete. In the past, enforcement relied on manual monitoring, cameras, or law enforcement presence, but vehicle-to-everything (V2X) connectivity allows for more sophisticated, automated solutions. On smart roads, vehicles are constantly connected to each other and the Centralized Traffic Management System (CTMS). This real-time communication makes it easier to track violations such as speeding, running red lights, or illegal turns. Data from these vehicles is transmitted to the central system, where violations are immediately processed and analyzed. Additionally, the system can send real-time alerts to drivers about potential violations, like approaching red lights, helping them adjust their actions before an incident occurs. Automatic alarms can also be triggered for violations, which are then sent to law enforcement for swift action. Smart roads also enable predictive enforcement, using data to anticipate where violations are likely to occur based on traffic patterns and weather conditions. This allows for preventive measures, like adjusting traffic signals or rerouting vehicles to improve safety. In short, smart roads improve traffic violation detection, making enforcement more efficient, responsive, and effective, leading to safer, smoother roads.
Energy Harvesting & Charging of Electric Vehicles
Roads are increasingly being recognized as a valuable resource for solar & kinetic & frictional energy harvesting due to two key factors. First, their vast surface area is constantly exposed to solar radiation, making them ideal for capturing solar energy. Second, the continuous movement of vehicles across the road surfaces results in significant dissipation of kinetic and frictional energy. This combination of factors offers a unique opportunity to harness energy directly from the roadways. To capture solar energy, heavy-duty and rugged photovoltaic (PV) modules are integrated directly into the road surfaces, creating what are known as solar roads. These roads contribute to renewable energy generation and help reduce the surrounding infrastructure’s carbon footprint. Piezoelectric roads use devices embedded beneath the surface that convert mechanical energy into electrical energy to harvest kinetic and frictional energy from moving vehicles. These piezoelectric devices respond to pressure changes caused by passing vehicles, generating power in real-time. With the rise of electric vehicles (EVs), there has been a growing need for accessible and widespread charging infrastructure. EVs require regular recharging, but finding a charging station can be challenging in many areas, particularly rural regions or along long stretches of expressways. This has spurred interest in creating roads that can charge EVs while they are in motion, offering a convenient solution for recharging during travel. The concept of charging roads has become a focal point for innovation, aiming to eliminate the need for stationary charging stations and make EVs more convenient.
In 2016, France became a pioneer in this field by constructing the world’s first solar road. The 2,880 square meter stretch of road, located in Tourouvre-au-Perche, was covered with solar panels and used the generated electricity to power streetlights along the route. This ambitious project marked a milestone in the development of solar road technology. Since then, several other countries, including the United States, Sweden, China, the UK, and Japan, have followed suit by developing pilot projects and testing different types of energy-harvesting roads. These countries are conducting trials to assess the viability and efficiency of various road-based energy systems. While France has led the way with solar roads, Sweden has taken a different approach with its “electrified roads.” In 2018, a 1.2-mile stretch of road near Stockholm was transformed into a dynamic charging highway using magnetic induction technology. Cables buried under the road surface create electromagnetic fields, which are strong enough to be captured by a receiver in the vehicle. The receiver converts this energy into electrical power, which charges the vehicle’s battery while it is in motion. This innovative solution allows vehicles to recharge without needing to stop, significantly improving the convenience of EV travel.
Additionally, countries like China have been experimenting with other types of road-based energy systems, such as those that combine solar energy and wireless charging technologies. These projects explore the possibility of creating smart roads that can not only generate energy but also provide data services like traffic management and real-time weather updates. The future of energy-harvesting roads holds promise for a more sustainable transportation infrastructure that can reduce our reliance on fossil fuels and improve the efficiency of electric vehicles.
As the development of solar and piezoelectric roads progresses, it’s becoming clear that these innovations have the potential to revolutionize the way we think about road infrastructure. By transforming roads into power-generating assets, we could create a future where transportation is cleaner, more efficient, and more integrated with renewable energy systems. With continued advancements in technology, we may soon see a widespread adoption of energy-harvesting roads, changing the landscape of transportation as we know it.
Roads with Smart Lighting
The first smart street lighting system was deployed in Oslo, Norway, in 2006, with the aim of optimizing street lighting based on factors like daylight, weather conditions, and traffic movement, all to conserve energy. Today, most street lights have been upgraded to energy-efficient LEDs, with additional technologies such as sensors and Wi-Fi integrated into the control units. These sensors detect the presence of pedestrians and vehicles, enabling the system to turn the lights on or off as needed, ensuring energy is used only when required while maintaining sufficient illumination for safety (i.e., on-demand lighting). The addition of wireless connectivity has further enhanced the system, allowing street lights to be interconnected and form networks. This connectivity enables remote control and dynamic pairing or grouping of lights based on traffic and environmental conditions, enhancing both energy efficiency and functionality.
Smart Road Lighting
Indian Scenario & Challenges
Having missed out on the technological advancements and, more importantly, the Great Automobile Boom that followed World War II, India faced significant challenges in modernizing its outdated road infrastructure during its formative years. While the country had a growing need for better roads, this demand became more pronounced starting in the 1980s with the introduction of the Maruti 800, India’s first new-age automobile, which was developed in collaboration with Suzuki Motor Co. of Japan. This compact car marked a turning point, as it became a symbol of India’s emerging automobile market, highlighting the need for more efficient and safer roads to accommodate the growing number of vehicles.
However, the real momentum for revamping the country’s road infrastructure began around 1995, when India opened up its automobile market to global players, spurring an influx of international automotive brands and technology. With the arrival of world-class vehicles and increased competition, there was an urgent need to modernize the road network to support these advanced automobiles. This period marked the beginning of significant improvements in road infrastructure, including the construction of highways, urban expressways, and better-maintained rural roads. The automotive industry’s growth became a catalyst for the government to prioritize infrastructure development, not just to accommodate modern vehicles but also to enhance the overall economic growth of the country.
The shift toward more comprehensive and modern road planning, combined with technological advancements, set the foundation for a more connected and efficient transportation network that would support India’s expanding economy and growing automobile market. As global automotive trends took hold, India’s roads slowly began to evolve from their outdated systems into more sophisticated infrastructure capable of supporting the country’s rapid industrialization and urbanization.
Despite the best efforts of all stakeholders involved in infrastructure development, it is important to recognize that while India ranks second globally, after the United States, in terms of the absolute length of its road network, it lags significantly in terms of road quality and design. Only about 69% of India’s roads are surfaced, and even these do not meet global standards. The roads in India have historically been neglected in all aspects—design, construction, and maintenance. They remain some of the most abused infrastructures in the country, facing numerous challenges such as rapid urbanization, heavy traffic flow, overloading, and public misuse. As a result, navigating the Indian road network can often feel like a nightmare, with poor road conditions and congestion contributing to the frustration.
With the impressive length of the network, India’s road infrastructure is still far from achieving even basic standards of efficiency or smart functionality. In this context, it is essential that the Indian government, along with engineers and infrastructure developers, shift their focus not only toward building smart cities but also toward transforming existing roads—many of which will serve as the arteries of these future cities—into smart and intelligent road networks. As the number of vehicles continues to rise, it is critical that these roadways evolve to meet the needs of modern transportation. If India’s road network can be upgraded to smart and intelligent systems, it will play a crucial role in enhancing the performance and functionality of smart cities. Otherwise, the outdated infrastructure could become a significant bottleneck, limiting the efficiency and growth of urban centers in the future. Thus, ensuring that road infrastructure is integrated with the latest technology is key to the success of both transportation and urban development in India’s rapidly evolving cities.
Top 20 Countries with Largest Road Lengths
Top 20 Countries with No. Of Vehicles/ KM of Road
Top 20 Countries with Road Density (KM/ Sq. KM of Area)
Top 20 Countries with No. Of Vehicle/ Per Person
To move to smart & intelligent roads even in a smaller way, India faces tremendous challenges India is taking smaller steps one by one to begin its journey. In its very first attempt an Indian team from HP Lubricants and Leo Burnett India, has put a set of proto type “SmartLife” poles on NH1 (one of the most dangerous roads in the world & which connecting Jammu and Srinagar). These poles installed on the two side of hairpin bends, gauge the speed of approaching vehicles & communicate with each other to alert both the drivers by sounding a horn. (https://www.youtube.com/watch?v=Id9OOlO4aRM).
However, modernizing the Indian roads is a herculean task for the government & may take years but it is certainly one of the high priority subjects. The time is right when India is investing heavily in infrastructure development in which the creation of smart roads with cutting-edge technologies could be easily merged. This would help India to make a leapfrog and catch up with the rest of the world. Also since India already has an ambitious target of converting 70% of all commercial cars, 30% of private cars, 40% of buses, and 80% of 2W/ 3W sales to EVs by 2030, the current road plan, as well as future road plans, must be made considering this fact in mind as smart roads would certainly be the requirements of matching the needs of future automobiles and other mobility systems which need to get integrated seamlessly with smart roads of future.
Epilogue
Although road technology in India has evolved slowly compared to other components of the mobility network, the Government of India’s focus on building world-class infrastructure, combined with the rising demand for electric vehicles (EVs), presents an ideal opportunity for this critical subsystem of the mobility network to become “smart.” Transforming India’s roads into intelligent systems will lead to increased automation, greater energy efficiency, reduced costs, enhanced safety, cleaner air, a greener environment, less traffic congestion, and fewer accidents and fatalities. In turn, this will significantly improve the quality of life for citizens. Roads should no longer be considered static infrastructure; instead, they must be viewed as a “dynamic and intelligent subsystem” of society. These smart roads should be able to sense their surroundings, monitor conditions, and respond proactively to various situations. The roads should be capable of real-time communication with a central server to provide regular updates on traffic conditions, road load, weather, accidents, and their exact location, among other variables. The possibilities are endless, and such advancements would make city operations more efficient and smoother. In the cities of the future, “the information grid,” “the electric grid,” and “the transportation grid” may merge into a cohesive, living neural system that powers smart cities. In this ecosystem, the Central Control Room would serve as the “brain,” while the smart road grids would act as the “central nervous system“. The EVs and connected autonomous electric vehicles (CAEVs) forming the transportation grid would represent the “hands and legs,” and the flow of information and power would serve as the “blood” circulating throughout this virtual ecosystem, creating a truly smart city—alive, responsive, and efficient.
Advances in smart roads for future smart cities by Chai K. Toh, Julio A. Sanguesa, Juan C. Cano and Francisco J. Martinez, GLG Group, San Francisco, CA, USA, Department of Computer Science, National Tsing Hua University, Hsinchu, Taiwan, Department of Computer Science, Centro Universitario de la Defensa, Zaragoza, Spain, Department of Computer Engineering (DISCA), Universitat Politecnica de Valencia, Valencia, Spain, Computer Science and System Engineering Department, University of Zaragoza, Teruel, Spain (royalsocietypublishing.org/journal/rspa)
“Paving The Way Forward – Intelligent Road Infrastructure” by Suman A Sehra, Global Director, IoT Smart Cities and Transportation, Intel Corporation
A History Of Roads From Ancient Times To The Motor Age A Thesis Submitted In Partial Fulfillment Of The Requirements For The Degree Of Master Of Science In Civil Engineering By Herbert Reinhold Jacobson Georgia School Of Technology Atlanta, Georgia (1940)
Road To Sustainable Smart Cities Challenges, Opportunities And Emerging Trends by KPMG, March 21
Smart Roads: A Vision/ Discission Paper-Jan/2015 by Elena De La Pena, Dy Director General for Technical Affairs, Spanish Road Association, Chair, TC1 Smart Mobility)
Exports of auto compnents from India see robust growth in last 2-3 yearsPixabay
Showcasing India’s growing role in the global supply chain, exports of auto components have shown robust growth in the past couple of years.
Also, major exports destinations for motorcycle parts are Germany, Bangladesh, the US, the UK, the UAE, Brazil, Turkey, Sri Lanka and others.
This highlights India’s increasing global market presence and reduced dependence on imports.
According to industry experts, India’s auto component industry can target $100 billion in exports, as global original equipment manufacturers (OEMs) reassess their supply chains and manufacturing strategies, presenting India with an optimal opportunity to establish itself as a top global destination.
The auto component exports reached $21.2 billion in FY24, marking a significant turnaround from a $2.5 billion deficit in FY19 to a $300 million surplus.
According to the latest report by Automotive Component Manufacturers Association of India (ACMA) and Boston Consulting Group (BCG), India can potentially add another $40-60 billion in incremental exports by prioritising 11 product families, with focus on US and Europe markets.
Exports of auto components from India see robust growth in last 2-3 yearsIANS
Notably, capitalising on emerging EV and electronic value chain through localisation today, India can look to tap into additional $15-20 billion exports in components such as battery management systems, telematics units, instrument clusters and ABS.
Global OEMs are major customers of India’s auto component industry, accounting for 20-30 per cent of exports.
In the German market, which is predominantly influenced by Eastern European suppliers, India emerges as a cost-effective alternative, offering components at prices up to 15 per cent lower.
In the US market, which is current dominated by imports from Mexico and China, Mexico offers components at 2-5 per cent lower prices due to reduced logistics and tariff costs. Conversely, Chinese components are 20-25 per cent more expensive compared to India, largely because of additional tariffs.
India’s agricultural exports record double-digit surge as farm sector bounces backsocial media
India’s exports of agricultural and processed food products have recorded a robust 13 per cent increase to $22.67 billion during April-February in the current financial year compared with the same period of the previous year, reflecting the strong performance of the farm sector.
According to data compiled by the Directorate General of Commercial Intelligence and Statistics, rice exports, including basmati and non-basmati varieties, jumped by 21 per cent during the 11-month period to over $11 billion from $9.32 billion in the same period last year.
The government started easing restrictions on rice exports in September 2024 on prospects of bumper crops, around a year after they were imposed to check food inflation in the domestic market fuelled by local shortages in a poor monsoon year. These restrictions have been removed. This had led to a decline in exports during 2023-24.
Rice exports increased by 13.21 per cent to $1.19 billion in February this year from $1.05 billion in February last year, the latest figures show.
Meanwhile, India’s tea exports touched a 10-year high at 255 million kg in 2024 despite the uncertainties in the global market triggered by geopolitical tensions, data compiled by the Tea Board of India shows.
India’s agricultural exports record double-digit surge as farm sector bounces backIANS
The country’s exports shot up by a robust 10 per cent during the year from the corresponding figure of 231.69 million kgs recorded in 2023, according to the figures.
The average price of Indian tea in the export market also went up by 10 per cent, bringing welcome relief to the tea industry which had been hit by inclement weather in 2023.
There was a sharp increase in shipments to Iraq, accounting for 20 per cent of tea exports, and merchants are expecting to send 40-50 million kg to the West Asian country this fiscal, he said.
Indian exporters, who entered several markets of West Asia when the Sri Lankan crop was low, managed to retain the shipment volumes there, he said.
India exports tea to more than 25 countries with UAE, Iraq, Iran, Russia, the US and the UK as the major markets.
India is among the top five tea exporters in the world accounting for about 10 per cent of total world exports. India’s Assam, Darjeeling, and Nilgiri tea are considered one of the finest in the world. Most of the tea exported out of India is black tea which makes up about 96 per cent of total exports. The other varieties include regular tea, green tea, herbal tea, masala tea and lemon tea.
(With inputs from IANS)
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CHICAGO, IL: The Illinois Committee for Honest Government rendered a powerful ringing endorsement for the candidacy of Nag Jaiswal in his bid for Naperville’s City Councilman. This high-profile ringing endorsement from Democratic lawmakers, augmented by an equally forceful endorsement from the Republican leadership represents a validation of Nag Jaiswal’s fierce devotion to the ideals of honest governance.
These significant endorsements from Democrats and Republicans for Nag Jaiswal as an advocate for Honest Government could potentially be a positive ‘Game Changer’ for Nag Jaiswal in his bid to cross the finish line victoriously as the Councilman for the City of Naperville. This collective bi-partisan endorsement will likely propel his candidacy to motivate and provoke extensive grassroots support from both sides of the political spectrum.
Nag Jaiswal in a statement said, “I am deeply honored to have received this high-profile endorsement from the Illinois Committee for Honest Government” and robust bi-partisan support. The endorsement from the Illinois Committee for Honest Government organization encompasses several lawmakers in the organization which includes Congressman Hon. Danny Davis, U.S. Congressman Hon. Raja Krishnamoorthi, and Attorney Frank Avila. This powerful endorsement Nag Jaiswal stated is a gracious outcome of my unwavering devotion to the ideals of honest governance that is transparent and accountable to the citizens of Naperville, Illinois.”
The Republican National Hispanic Committee under the leadership of Chairman Charlie Ferral gave an enthusiastic endorsement to the candidacy of Nag Jaiswal and said Jaiswal ushers in a new era of honest governance and he will be a bold voice for the citizens of Naperville on all issues confronting the electorate. Republican Party of the Will County Chief Julie Berkowicz also joined in endorsing Nag Jaiswal for City Councilman.
Nag Jaiswal – a frontline community/business leader of eminence – is placing his distinguished record of public service before the constituents in his bid to be the City Councilman for the City of Naperville. Equipped with a game-changing vision, Nag Jaiswal is fiercely committed to ushering sweeping reforms and far-reaching transformational change with his bold roadmap for Naperville by ushering profound fundamental changes to the city and by instituting measures that seek to make the City of Naperville safer for the families, bring fiscal responsibility, reduced tax burden, governmental transparency, incorporating technology to bring about radical efficiencies by identifying and remove redundancies, opening floodgates of business opportunities and fostering extensive community development to make the City of Naperville a world-class city in the Midwest.
Several prominent community leaders forcefully delivered compelling endorsements including Ajeet Singh, President of the Indian American Business Council, Sunil Shah, Chairman of Federation of Indian Associations, Murugesh Kasilingam of Tamil Citizens group, Hitesh Gandhi, Past President of Gandhi Samaj and Keerthi Kumar Ravoori, Honorary Chair of the Indian American Business Council.
Naperville stands at a turning point, and Nag Jaiswal is ready to lead it forward. His vision for a smarter, more prosperous city aligns with the aspirations of its residents. Early Voting Start March 16, 2025, to March 31 2025, Election Day is April 01, 2025; Nag Jaiswal for Naperville City Council – Vote Ballot # 8
Microfinance revival on horizon in India, banks to lead the charge: HSBC reportIANS
The outlook for microfinance institutions (MFIs) in India is improving after months of stress caused by overleveraging of borrowers, a new report said on Wednesday.
According to the report by HSBC Research, better loan collections and higher disbursements in February helped boost sentiment in the sector.
While the global brokerage firm expects a positive turnaround for MFIs in 2025, it also noted that some challenges still need to be addressed.
The report highlighted that “X bucket” collection efficiency in most states improved to 98.5-99.5 per cent in February. “X bucket” refers to accounts that had no overdue payments at the end of the previous month.
“X bucket” collection efficiency measures the percentage of EMIs collected from these accounts during a given month, compared to the total EMIs due from all such accounts in that period.
This improvement has also contributed to a reduction in high employee attrition rates, which had been a concern for the sector over the past year.
However, in Karnataka, a government ordinance caused significant disruptions in MFI operations in February.
Microfinance revival on horizon in India, banks to lead the charge: HSBC reportIANS
The state government’s proposed bill aims to completely exempt borrowers from repaying loans, including interest, taken from unlicensed and unregistered MFIs.
HSBC Research noted that individual microfinance institutions have taken steps to minimise the impact and stabilise their operations.
Looking ahead, credit costs for MFIs are expected to decline in the April-June quarter due to improving asset quality.
However, new regulations set to take effect on April 1, which cap lending to borrowers, are likely to push credit costs higher again.
However, HSBC Research believes banks with microfinance exposure have a stronger long-term growth potential.
These banks are better placed due to their improving asset quality and attractive valuations, which could lead to better returns for investors.
“Banks, with their diversified portfolios and stronger earnings resilience, are expected to be in a better position than standalone MFIs in the long run,” the report said.
