Endeavor Careers Choicest Blogs: Weekly Current Affairs: December 2022, Week 01

Welcome to the Endeavor Editors’ Weekly Current Affairs Choicest Blog series. Get a weekly roundup – of news from business, economy, markets, policy, and more. A quick capsule format news summary and update to keep you abreast with all the latest current affairs.

1) International News and Global Economy

Turkey will launch Syria ground operation after strikes – Erdogan

Turkey has said it is planning a ground operation against the Syrian Kurdish People’s Protection Units (YPG), after four days of strikes in Syria and Iraq. President Recep Tayyip Erdogan warned that the strikes – which his defence minister claimed had “neutralized” 254 terrorists – were “only the beginning”. Turkey has blamed Kurdish groups for a recent deadly bomb attack in Istanbul. The YPG has denied involvement and said the strikes in northeast Syria have killed 30 civilians and 11 fighters. The US defence department said the Turkish attacks had “directly threatened the safety of US personnel” working in Syria to defeat the jihadist group Islamic State (IS).

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US slams Turkey’s War plans in Syria | Erdogan prepares for War in the Middle East

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A Super cartel led by a British drug lord is taken down in five countries

“The drug pins, considered as high-value targets by Europol, had come together to form what was known as a ‘super cartel’ which controlled around one-third of the cocaine trade in Europe,” Europol said. “The scale of cocaine importation into Europe under the suspects’ control and command was massive.” Their illegal business is described as having two distinct operations: one, extracting drugs from commercial seaports, the other laundering money through Spanish real estate companies with a portfolio value of over £20 million. These arrests are part of a multinational operation coordinated by the EU law enforcement agency, Europol, and included 13 arrests in Spain, six in France, 10 in Belgium, and a total of six in Dubai.

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BBC broke impartiality rules with Brexit report

The BBC broke impartiality rules when it reported on the negative impact of Brexit on Scottish businesses, an internal investigation has found. The BBC’s own Executive Complaints Unit (ECU) upheld a complaint from a viewer who said that by focusing only on firms apparently damaged by Brexit, the coverage was “unbalanced”. In an edition of BBC One’s Reporting Scotland, broadcast on December 20, a business report carried the introduction: “Brexit’s advocates say there will be long-term economic benefits, but it’s been a tough year for some of the Scottish businesses most affected.” The programme dealt with the effects of new trading arrangements on exporters and businesses in Scotland following Britain’s exit from the European Union.

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India dismisses China’s concerns on military exercise with US in Uttarakhand

India on Thursday dismissed China’s objection to the joint Indo-US military exercise near the Line of Actual Control in Uttarakhand’s Auli, saying it did not give a veto to third countries on these issues. Hitting back at China, External Affairs Ministry spokesperson Arindam Bagchi said the joint exercises with the US in Auli has nothing to do with the 1993 and 1996 agreements with China. “But since these were raised by the Chinese side, I must emphasize that the Chinese side needs to reflect and think about its own breach of the agreements of 1993 and 1996,” Bagchi said responding to questions at the weekly briefing of the ministry. “India exercises with whomever it chooses to and it does not give a veto to third countries on these issues,” the External Affairs Ministry spokesperson said.

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Iran scraps morality police after 2 months of raging protests

Iran has scrapped its morality police units after more than two months of protests triggered by the death of Mahsa Amini during her detention for allegedly violating the country’s strict female dress code. In a report published late Saturday by IRNA, Iran’s prosecutor general, Mohamed Jafar Montazeri, said the morality police had been “closed”. He provided no further details about the state of the force, or if its closure was widespread and permanent. ”The judiciary continues to monitor behavioral actions at the community level,” Montazeri added, according to the news agency AP. The move comes amid widespread condemnation of Iran’s regressive policies and counter-offensive approach to tackling protesters.

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Iran said to abolish morality police: What does it mean? | DW News

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Thousands on alert in Indonesia’s Java after Mt. Semeru eruption

Thousands of residents in Indonesia’s East Java were on high alert on Monday after a violent eruption at the island’s tallest volcano prompted authorities to impose an 8-kilometer no-go zone and forced evacuations of entire villages. The provincial search and rescue agency deployed teams to the worst-affected areas near Mount Semeru to assess the damage, with low rainfall giving some reprieve, Tholib Vatelehan, a Basarnas spokesperson, told Reuters. The 3,676-metre volcano erupted at 2.46 pm local time on Sunday (0746GMT). Footage shot by local residents showed Mt. Semeru spewing a giant cloud of grey ash high above its crater, which later engulfed the mountain and surrounding rice paddy fields, roads, and bridges, and turned the sky black. A video shared by the Environment Ministry on Twitter showed a pyroclastic flow of lava, rocks, and hot gases gushing down the mountainside.

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Chinese cities ease curbs, full zero-COVID exit seen some way off

More Chinese cities including Urumqi in the far west announced an easing of coronavirus curbs on Sunday as China tries to make its zero-COVID policy more targeted and less onerous after unprecedented protests against restrictions last weekend. Urumqi, the capital of the Xinjiang region and where the protests first erupted, will reopen malls, markets, restaurants, and other venues from Monday, authorities said, ending strict lockdowns after months. There was no sign of any significant unrest this weekend, although police were out in force in the Liangmaqiao area of Beijing and in Shanghai around Wulumuqi Road, which is named after Urumqi. Both sites saw protests a week ago.

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Russia refuses to accept EU’s price cap of $60/barrel on crude oil

Russia refused to accept a price cap on Russian oil which European Union along with G7 and others have set a deal for a USD 60 per barrel, Kremlin Spokesman Dmitry Peskov said. According to TASS Russian News Agency, Kremlin Spokesman Dmitry Peskov said, “We are assessing the situation. Certain preparations for such a cap were made. We won’t accept the price cap and we will inform you how the work will be organized once the assessment is over.” On Friday, European Union countries agreed to cap the price of Russian seaborne oil at USD 60 a barrel. Taking to Twitter, the president of the European Commission, Ursula von der Leyen said, “The EU agreement on an oil price cap, coordinated with G7 and others, will reduce Russia’s revenues significantly. It will help us stabilize global energy prices, benefitting emerging economies around the world.”

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Amid the churning oil Market, OPEC and Russia leave production unchanged

In a news release after its meeting on Sunday, OPEC Plus defended the October production cut, saying it was now recognized by market participants to have been “necessary and the right course of action.” Because oil is ordered several weeks in advance, the production trims announced in October only began working through the market in the last few weeks. In addition, releases from the strategic stockpile of the United States are winding down. The Saudis, who are absorbing the largest of the production cuts, probably want to wait and see whether the output cuts and the end of the reserve releases offset weakening demand, especially in China, the world’s largest oil importer, where Covid lockdowns are hampering industrial production and overall economic activity.

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U.S., EU to address Inflation Reduction Act fears constructively

The United States and the European Union will seek to tackle EU concerns about a new U.S. green energy subsidy package in a constructive way, officials from both sides are due to say at a meeting next week, a draft joint statement shows. The 27-country bloc fears that the U.S. $430 billion Inflation Reduction Act with its generous tax breaks may lure away EU businesses and disadvantage European companies from car manufacturers to makers of green technology. The topic is one of several on the agenda of the EU-U.S. Trade and Technology Council meeting on Dec. 5. Participants include U.S. Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo, U.S. Trade Representative Katherine Tai, and European Commission Executive Vice Presidents Valdis Dombrovskis and Margrethe Vestager.

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Tensions rise between EU and US over Inflation Reduction Act | DW News

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2) India

India assumes presidency of two global bodies: All you need to know about G20, UNSC

December of 2022 began with India assuming the presidency of two global bodies — G20 on the first day of the month and UNSC on the second. New Delhi has said that while its G20 presidency is driven by the vision of “Vasudhaiva Kutumbakam” (the world is one family), its presidency of the United Nations Security Council seeks to prioritize countering terrorism and reformed multilateralism. Both these positions are rotating, that is, they come to all members of the bodies by turn. Indonesian President Joko Widodo officially handed over the G20 presidency to India on November 16 this year at the summit in Bali. The year-long presidency assumed by India comes at a time when the world is struck with uncertainties about recovery from a pandemic-hit economy. Over 2023, India will organize more than 200 meetings across 50 cities which would involve officials, the civil society, culminating in a marquee meeting in New Delhi in September next year. Thirty heads of state and government from the G20 nations, and those invited, are expected to participate in the summit.

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Envoy on Key priorities as India takes over UNSC Presidency

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Centre returns Ten names recommended by SC Collegium for High Court

As per the report of NDTV, the Central Government has returned 10 names recommended by the Collegium for appointment as Judges of the High Court. The Supreme Court and the Centre have been at odds over the collegium’s recommendations, prompting the apex court to issue a notice to the Union Law Secretary on November 25, 2022. The court had noted that the Centre was not making the final decision on the names submitted by the collegium, which was “unacceptable.” Today the Supreme Court again expressed its strong disapproval of holding the collegium’s recommendations and even partly accepting the recommendation thereby hampering the seniority of Judges.

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Adani Group clinches Dharavi redevelopment project with Rs 5,069-crore bid

Adani Group has won the bid for the redevelopment of Mumbai’s Dharavi area, one of the largest slum clusters in Asia. Three companies namely Adani Realty, DLF, and Naman Group had submitted bids for the redevelopment of Dharavi and rehabilitation of slum dwellers. With the selection of the successful bidder, the redevelopment of Dharavi will finally take off now, after multiple failed attempts in the last 15 years. The winner of the Rs 20,000-crore project is decided on the basis of the highest initial investment pledge. The Maharashtra government aims to finish the project in the next 17 years and complete rehabilitation in the next seven years. Overall, more than 10 million sq ft is expected to come up as part of the Dharavi redevelopment project.

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Adani wins Mumbai Dharavi makeover Project with Rs 5067 crore Bid | India Business Hour

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3) Economy

India’s growth rate halved in the last quarter to 6.3% Is that bad news?

India’s growth rate fell by more than half in the most recent second quarter from the first quarter. Growth slid to 6.3 percent in the July-September period from 13.5 percent between March and June. Should you be worrying? Nope. It just means that the pent-up demand from Covid-19 lockdowns and disruptions is starting to fade. The government and private economists now project India’s growth will come in at around 6 percent-7 percent this financial year. While that forecast is sharply down from rosy expansion predictions as high as 10 percent made at the start of the year, India will still be zipping past China which is encountering major economic headwinds. China’s economy grew by just 3.9 percent in the July-September quarter, dragged down by Covid-19 lockdowns.

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India’s economy likely to grow 6.5%-7% next fiscal year says Economic Advisory Council Member Sanjeev Sanyal

The Indian economy is likely to grow 6.5% to 7% next fiscal year if the global environment does not worsen, a member of the prime minister’s economic advisory council said on Thursday, giving a higher estimate than some economists. Global agencies such as the International Monetary Fund and the World bank, for instance, have forecast India’s growth will be 6.1% and 6.0%, respectively, next fiscal. The country will continue to maintain macroeconomic stability, despite a “very difficult” global environment, helped by the stable banking sector and buoyant tax revenue collections, member of the Economic Advisory Council to the Prime Minister Sanjeev Sanyal told Reuters.

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4) Markets, Banking, and Finance

Global central banks extend rate hike push in November

The pace and scale of rate hikes delivered by central banks in November picked up speed again as policymakers around the globe battle decade-high inflation. Central banks overseeing six of the 10 most heavily traded currencies delivered 350 basis points (bps) of rate hikes between them last month. The European Central Bank, the Bank of Canada, the Swiss National Bank, and the Bank of Japan did not hold rate-setting meetings in November. The latest moves have brought total rate hikes in 2022 from G10 central banks to 2,400 bps. “Interest rates will continue to rise,” said Alexandra Dimitrijevic at S&P Global Ratings, looking ahead to 2023. “Central banks’ determination to bring down inflation suggests that policy rates need to go higher still.”

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RBI retail digital rupee pilot starts today: Who can use e-Rupee?

The retail pilot of the Reserve Bank of India’s (RBI) digital currency has gone live on December 1, 2022. Touted as the e-Rupee or digital rupee, the RBI’s central bank digital currency (CBDC) is an electronic form of sovereign currency. The central bank has proposed a token-based tiered architecture model for the retail digital rupee, according to the concept note released by the Reserve Bank of India on October 7, 2022. A token-based CBDC is similar to banknotes which means whoever holds it is presumed to own it. In a token-based CBDC, the person receiving a token will verify that his ownership of the token is genuine. “A token-based CBDC is viewed as a preferred mode for CBDC-R as it would be closer to physical cash,” RBI earlier mentioned.

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Explained: Proposed amendments to India’s insurance laws

The Department of Financial service has issued the Insurance Laws (Amendment) Bill, 2022 for public feedback. The Bill proposes some major tweaks to the Insurance Act, of 1938 and the Insurance Regulatory and Development Authority Act, of 1999. The amendments propose changes and new insertions in the definition section. Some notable tweaks are:- insurance intermediary, captive insurer, insurance business, Indian insurance company, insurance cooperative society, insurer, personal accident insurance business, premium, principal officer, surveyor, and travel insurance business.

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5) Business

Nov services PMI at a 3-month high of 56.4 thanks to new biz expansion

India’s services activity recovered to a three-month high in November as services firms benefited from accommodative demand. New business inflows rose markedly and at the quickest pace in the last three months. The Purchasing Managers’ Index (PMI) for the services sector released by credit rating agency S&P Global improved to 56.4 in November from 55.1 in October, as the survey showed an expansion in output and job creation. November also saw the first upturn in new business from abroad since the onset of the pandemic in early 2020, as there was a rise in total new orders, supported by a renewed increase in international sales.

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Temasek unit picks up 1.14% stake in Zomato for Rs 607.60 crore

Camas Investments Pte Ltd, an arm of Singapore’s state-owned fund Temasek Holdings, bought 98 million shares of Zomato on Wednesday at Rs 62 apiece, bulk deals data from National Stock Exchange showed. In all, the Temasek unit picked up a 1.14% stake in the food-delivery company for Rs 607.60 crore. On Wednesday, Alibaba group affiliate Alipay Singapore Holding Pte Ltd offloaded 262.87 million shares of Zomato for Rs 62.06 per share, the data showed. This represented a 3.07% stake in the company. After the changing of hands of Zomato shares, Temasek now holds a combined 4% stake in the Gurugram-based company. It bought a 2.86% stake in Zomato in 2020 through its arm Macritchie Investments Pte Ltd. After the sale, Alibaba will own approximately 10% of Zomato through its units Alipay Singapore Holding and Antfin Singapore Holding Pte Ltd.

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Powergrid to separate telecom business gets nod to foray into data center biz

Power Grid Corporation of India Ltd is in the process of carving out its telecom vertical to a new fully-owned subsidiary, Powergrid Teleservices Ltd, in a bid to have a “focused approach” and to move up the value chain, senior company officials said. The move by the state-run power transmission major comes close on the heels when the telecom sector is ramping up its 5G service across the country to bring business transformation that can contribute two percent to the national GDP. The state-owned power transmission major has also got approval from the Central Electricity Regulatory Commission (CERC) to operate data centers.

Adani group’s NDTV open offer subscribed 32%; poised to be the largest shareholder

Billionaire Gautam Adani’s group has found investors willing to sell over 53 lakh shares of NDTV despite the deep discount to the stock’s current trading price, giving it the rights – which it may or may not exercise – to nominate a chairman of the broadcaster. The open offer, made after Adani group acquired a little-known firm that gave it an indirect holding over 29.18 percent stake in New Delhi Television (NDTV), closes on December 5, according to a stock exchange notification. Prior to the Adani group’s hostile takeover, promoters held a 61.45 percent stake in NDTV. This included 1.88 crore shares or 29.18 percent held by RRPR Holding Pvt Ltd. RRPR Holding is the firm that Adani group indirectly acquired in August — triggering a wider open offer to buy a further 26 percent in the media company. Being the largest shareholder of NDTV would entitle Adani group to appoint at least two directors on the company board including its chairperson, according to market experts.

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Vodafone CEO Nick Read ousted after commercial challenges

Vodafone Group Plc Chief Executive Officer Nick Read will step down at the end of 2022 after he failed to halt a years-long slide in the telecommunication giant’s share price and mergers with major rivals failed to materialize. Chief Financial Officer Margherita Della Valle will do the job on an interim basis while the board, led by Chairman Jean-Francois van Boxmeer, seeks a replacement. Read, who’d been in the post for four years and at Vodafone for more than two decades, will stay on as an adviser until the end of March, the company said in a statement on Monday.

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6) Technology

Govt approves drones PLI Scheme worth INR 120 Cr

The Ministry of Civil Aviation (MoCA) has issued production-linked incentive (PLI) scheme guidelines for drone manufacturing and drone components companies. In a bid to support the indigenous drone industry, the MoCA has announced an INR 120 Cr fund allocation for companies manufacturing drones and drone components between FY23 and FY25. The guidelines cover definitions, qualifications and application eligibility, online portal project management agency (PMA) details, and more. The PLI scheme will be applicable to India-registered companies that are manufacturing drones and drone components in one or more locations in the country. The Scheme was first introduced in September 2021 and would offer a 20% incentive over the value addition to drone manufacturers and related software. For context, value addition is the difference between net sales and the purchase cost of drone components.

For details visit here.

Why NPCI had to extend the UPI market cap deadline by two years

The National Payments Corporation of India (NPCI), in March 2021, came up with a novel idea to save the unified payments interface (UPI) from concentration risk. The guidelines mandated each UPI third-party app adhere to a 30 percent transaction volume cap by December 31, 2022, to avoid the concentration of UPI volumes in the hands of a few players. Currently, three players — PhonePe, Google Pay, and Paytm — account for approximately 96 percent of monthly UPI volumes. But on December 2, in a widely expected move, the NPCI extended the deadline for UPI players to adhere to a market cap of 30 percent by two years, to December 31, 2024. Well, the NPCI’s original intent was not entirely unfounded, as the UPI was suffering from large tech outages starting from a big bang issue that happened in 2020 when PhonePe went down due to a moratorium on Yes Bank. That’s when we all realized our dependency on an app to make daily payments.

For details visit here.

7) Politics

Gujarat Elections: BJP, Congress follow local issues as 93 seats go to polls

 On Monday, 93 assembly constituencies across 14 districts of Gujarat will vote in the second and last phase of polling. Campaign for this phase ended with a focus on issues such as development, Ram Mandir, Uniform Civil Code, law and order, and the resurrection of the 2002 incidents on the one hand, and price rise, unemployment, and exam paper leaks on the other. Intra-party dynamics and local equations, like always, have assumed significance and with the equilibrium of the essentially bipolar politics of Gujarat being disturbed, micro issues have become magnified this time.

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8) Sports

India lose to Bangladesh by one wicket in a nail-bitter in the first ODI

India lost a nail-biter match in the first ODI of the three-match series against Bangladesh by one wicket being played here at Shere Bangla National Stadium in Dhaka on Sunday. India lost their first One Day International against Bangladesh after seven years which came in the year 2015.

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BCCI introduces ‘Impact Player’ rule for IPL 2023

Taking a leaf out of the innovation playbook of the Big Bash League, the Board of Control for Cricket in India (BCCI) will introduce the ‘Impact Player’ regulation in the next edition of the Indian Premier League as well. “The BCCI would like to introduce the concept of ‘Impact Player’ wherein participating teams could replace one member of its playing XI during a T20 match based on the context of the game,” BCCI said in a statement. According to the rule, teams can replace one member of their playing XI during a match, if they think it will be useful.

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Pakistan vs England 1st Test Day 5 Highlights: England Defeat Pakistan By 74 Runs In Final Day Thriller

England defeated Pakistan by 74 runs in a thrilling first Test of the three-match series at Rawalpindi Cricket Stadium on Monday. Guest skipper Ben Stokes won the toss and opted to bat first. England scored 657 runs in their first innings that included a world record of 500 or more runs on the first day of a Test match. Meanwhile, Pakistan put in a good total of 579 in response. In their next innings, England declared at 264 for 7, setting a 343-run target for Pakistan before the chasing side was bundled out for 268.

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AIFF withdraws bid to host 2027 AFC Asian Cup, Saudi Arabia left as lone bidder

India on Monday withdrew its bid to stage the 2027 AFC Asian Cup with the All India Football Federation (AIFF) declaring that hosting big-ticket events is not among its “strategic priorities” at this juncture. India and Saudi Arabia were the only two countries left as bidders to host the 2027 continental showpiece after nations such as Iran and Uzbekistan pulled out of the race in October. India’s bid was launched amid much fanfare in 2020 when Praful Patel was the AIFF president but the current dispensation under Kalyan Chaubey feels “building the foundations of football structure” through grassroots and youth development was more important than hosting big events.

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France’s Kylian Mbappe overtakes legendary Pele to break 60-year-old FIFA World Cup record

23-year-old French footballer Kylian Mbappe shattered the record of legendary Brazilian footballer Pele after scoring 2 goals against Poland in the FIFA World Cup 2022 Round of 16 matches on Sunday, 4 December. Mbappe is now the highest goalscorer in the FIFA World Cup below the age of 24. The Paris Saint-Germain star now has 9 goals, the highest-ever tally by any individual in the FIFA World Cup. The 2018 World Cup winner has now overtaken the likes of Diego Maradona, Lionel Messi, Cristiano Ronaldo, and of course Pele.

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9) Opinion

MAMA India – The Digital Bharat 2.0: Sanjeev Bikhchandani shares insights on India’s digital economy

Veteran entrepreneur and investor Sanjeev Bikhchandani, Founder and Executive Vice Chairman of Info Edge shared his outlook for India’s booming digital economy in a conversation hosted by ET Digital ahead of the ‘MAMA India – The Digital Bharat 2.0’ event by global attribution and marketing analytics leader, AppsFlyer. The event aims to bring together top Indian startups, founders, product leaders, mobile marketing heads, and app developers for conversations and connections to help businesses tap the opportunities in India’s fast-growing mobile app economy.

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With the right policies, India can become the world’s data hub 

Amazon’s plans to invest $4.4 billion in setting up a data center in Hyderabad is only the latest indication of the massive opportunity for India to become the data hub of the world. Global tech giants including Microsoft, Google, and Oracle have already announced big investments in this area. Even domestic players such as Adani Group, Airtel, Reliance Jio, and Hiranandani have rushed into the data center space in a bid to capture the multi-billion dollar market opportunity. High bandwidth speeds, stable power supply at low prices, and cutting-edge infrastructure can bolster India’s rise as a data center hub.

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India To Have 31 Mn 5G Users By 2022-End, 690 Mn By 2028: Ericsson

India is set to have around 31 Mn 5G users by the end of this year, and the number is set to reach 690 Mn by 2028, according to Ericsson’s Mobility Report for November 2022. The next-gen mobile networks would account for 53% of all connections in India by 2028, Ericsson added. “Aggressive 5G deployments by service providers, coupled with growing affordability and availability of 5G smartphones, should see 5G subscriptions in the India region reach around 31 million by the end of 2022 and 690 million by the end of 2028,” said the Swedish telecom gear maker. Ericsson said in the report that 5G is seeing a faster adoption rate than any other generation of mobile networks ever. It added that 4G connections in India would reach a peak of 930 Mn by 2024, before declining to 570 Mn by 2028.

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India’s cut-throat aviation sector prepares for consolidation

India’s dog-eat-dog aviation sector is on the cusp of a change. After years of cut-throat pricing wars between Indian airways, the landmark merger of former nationwide service Air India with Vistara will shake up the fast-growing business. In an increase and bust sector the place some analysts argue consolidation has been overdue, the deal will problem the dominance of the nation’s largest home flyer IndiGo, analysts stated. An enlarged Air India group, with an estimated worth of $4.4bn, may have slightly below 1 / 4 of the home sector, making it the nation’s second-largest service after IndiGo, which instructions properly over half of the market. “The competitive dynamics in India are moving towards a two-pillar system around the Air India Group and IndiGo,” wrote CAPA India, an aviation advisory. Significantly, it expects the 2 carriers between them will develop to say about half of India’s worldwide market, which is dominated by overseas carriers.

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India’s EV revolution could bear fruit by 2030, survey shows

A private consumer expectation survey on Monday showed that around 66% of Indians said that electric vehicles will surpass petrol and diesel cars by 2030. The survey, conducted by ACKO and YouGov India, also showed that a majority of Indian consumers, around 57%, want to invest in EVs because of their practical benefits while 56% want to purchase an EV because it is good for the environment. A majority of respondents, 60%, believe that India’s current public infrastructure is not equipped to support electric vehicles and feel the need for drastic improvement. However, the survey also revealed that 89% of the respondents think India will be infrastructurally ready for EVs by 2030. Experts and analysts over the last few years have highlighted the poor infrastructure supporting EVs in India as the primary reason behind the lower penetration of EVs in the country.

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What are UCC, polygamy, divorce, and inheritance? Why’s BJP upping the ante & a Pakistan story

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10) Weekly special

From Minuscule to Mainstream: Why Micro VCs are gaining prominence in the Indian startup ecosystem?

Traditional venture capital funding in the Indian startup ecosystem has been on a tear for nearly a decade. But with thousands of new companies entering the ecosystem every year and macro disrupters like the pandemic, geopolitical unrest, and a funding winter impacting the world of business at large, the VC game and funding playbooks have seen significant changes. One such phenomenon is the rise of the micro VCs whose small-ticket funding into pre-seed and seed-level startups has grown markedly in the past couple of years, taking the investment ecosystem by storm. There is a dire need for venture capital players who can come at a very early stage, invest $100K-$500K and lead on with continuous investments in follow-on rounds. Micro VCs are just doing that, putting in an amount in-between angels and the larger lead VCs.

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11) Did you know?

What is VUCA?

VUCA is an acronym that stands for volatility, uncertainty, complexity, and ambiguity — qualities that make a situation or condition difficult to analyze, respond to or plan for. Understanding how to mitigate these qualities can greatly improve the strategic abilities of a leader and lead to better outcomes. Technology is a rapidly changing and advancing field where experts may not agree or have differing opinions. Global supply chains and interconnected systems are complex and difficult to untangle. Disruptive technologies are introduced daily. Therefore, applying the principles of VUCA to technology structure can offer invaluable insights.

For details visit here.

With that, we come to the end of our Weekly Current Affairs December 2022 -Week 1. We hope you have liked it. Write your feedback in the comments below and let us know if there is anything else you would like us to cover.

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