kumard12

[kumard12]

How Generative AI is Transforming Creative Industries

Exploring the evolving relationship between creativity and algorithms

The Rise of Generative AI in the Creative World

In recent years, Generative AI has evolved from a niche tech experiment to a powerful creative force. Whether you're scrolling through AI-generated artwork, listening to AI-composed music, or even exploring AI-crafted fashion designs, you're witnessing a shift in how we define and produce creativity.

This revolution is reshaping everything from visual art and music to writing, gaming, and even fashion—industries once thought to be the last bastions of human-only creativity.

But how exactly is it happening? And what does it mean for creators?

What is Generative AI?

Generative AIrefers to algorithms—especially large language models and generative adversarial networks (GANs)—that can create original content from data inputs. Instead of simply analyzing or classifying data, these models generate text, images, audio, and more.

If you’re new to the concept, check outGlance’s beginner-friendly explainer on “What is Generative AI?” to understand the foundations before diving deeper.

Creative Fields Being Transformed by GenAI

1. Visual Art & Design

Tools like DALL·E, Midjourney, and Stable Diffusion let anyone—from hobbyists to seasoned designers—generate stunning visuals from simple text prompts. AI can experiment with styles, mimic artists, and even co-create with humans.

Real-World Impact:

Advertising & Branding: Fast generation of mockups and visual prototypes.

Fashion & Apparel: Conceptual designs driven by AI style recommendations, like those seen in Glance’s AI Looks feature.

2. Music Composition & Sound Design

AI models such as AIVA and Google’s MusicLM can now generate original music across genres. Artists are using these tools for background scores, songwriting support, or even full AI-composed albums.

Benefits Include:

Faster ideation for jingles, scores, and commercial audio.

Non-musicians exploring self-expression through AI-generated compositions.

3. Content Writing & Storytelling

AI writing tools (like GPT-based models) are being used to co-write screenplays, scripts, and books. While the human voice is still essential, AI is assisting with plot development, character arcs, and ideation.

Applications:

Gaming: AI helps in writing dynamic game narratives.

Film & TV: Rapid brainstorming of treatments and dialogue drafts.

4. Fashion & Personal Styling

With platforms like Glance AI, AI personal shoppers are helping users explore curated styles and generate fashion-forward looks based on selfies and preferences.

How it works:

Users select a persona (gender, body type)

Upload a selfie

Receive AI-generated outfits tailored to their style

Engage with the content (download, share, or shop directly)

Check out how Glance AI’s Style Advisor is turning fashion discovery into a personalized, creative experiencehere.

The Human + AI Collaboration Model

Contrary to fear, Generative AI isn’t replacing creators—it’s augmenting human creativity. Artists, designers, and musicians are increasingly viewing AI as a tool in their kit, one that offers:

New sources of inspiration

Speed in prototyping and iteration

Access to creative possibilities they hadn’t considered before

The sweet spot lies in co-creation, where humans provide the vision, taste, and context—and AI fills in the blanks or offers variation.

Ethical & Legal Considerations

As with any innovation, challenges exist:

Copyright ambiguity around AI-generated art

Bias in training data that affects aesthetic or cultural representation

Authenticity debates in music and fine art

The creative industries are now rethinking what it means to “create,” and regulators are racing to catch up.

What It Means for the Future

As Generative AI tools become more accessible, we’ll see a democratization of creativity. People with no traditional training in design, music, or storytelling can now bring their ideas to life. Expect a surge in diverse creative expressions—from indie fashion lines to viral music tracks, all powered by AI.

Glance: Making AI Creativity Accessible

At Glance, we believe in putting practical AI creativity into the hands of everyday users. Whether it's through Glance AI's personalized looks or Glance TV's ambient content experiences, we’re making it easier than ever to explore creative possibilities.

Want to see AI in action? Dive into our guide on how AI is used in real-world creative applications.

[kumard12]

SEBI’s Ruling on Insider Trading: Insights from SEBI Lawyer

The Securities and Exchange Board of India (SEBI) recently issued a significant directive in the insider trading case involving Mawana Sugars Ltd (MSL). The order, which requires the legal heir of the late Siddharth Shriram to disgorge Rs 6.2 crore, has set a precedent in securities law enforcement. SEBI Lawyer insights suggest that this decision highlights the regulator’s commitment to maintaining market transparency and preventing unlawful gains.

This blog explores the legal nuances of SEBI’s ruling, the regulatory framework governing insider trading, and expert insights from SEBI lawyer Vaneesa Agrawal. We also delve into the interpretations provided by Thinking Legal, including their analysis of SEBI's FAQs released on Insider Trading, and discuss the broader implications for corporate governance and market integrity.

Understanding SEBI’s Prohibition of Insider Trading Regulations – Insights from SEBI Lawyer Vaneesa Agrawal

SEBI’s Prohibition of Insider Trading (PIT) Regulations, 2015, are the foundation of India’s efforts to maintain fair market practices. These regulations, as emphasized by SEBI lawyers, aim to prevent trading based on unpublished price-sensitive information (UPSI) and ensure that all investors operate on a level playing field.

The law defines an insider as anyone who has access to Unpublished Price Sensitive Information (UPSI) because of their role in a company or their relationship with someone who has that access. SEBI Lawyer insights emphasize that trading while holding UPSI is strictly prohibited, as it undermines market fairness and transparency. Those who violate this rule can face severe consequences, including hefty fines and bans from trading.

In the case of Mawana Sugars, SEBI determined that Siddharth Shriram executed trades while in possession of UPSI regarding the company’s financial results for the quarter ending September 30, 2017. SEBI expert lawyer insights highlight that even after his passing, SEBI held that the gains from these trades could not be retained, leading to the directive for disgorgement by his legal heir, Krishna Shriram. This ruling reinforces the principle that wrongful gains must be returned, regardless of circumstances.

Legal Precedents and the Principle of Disgorgement – Outlook from a SEBI Expert Lawyer

Disgorgement is a well-recognized concept in securities law, frequently employed by SEBI to ensure that individuals who violate regulations do not keep the profits they gained unlawfully. Under the SEBI Act of 1992, SEBI Lawyer interpretations emphasize that the regulator has the authority to mandate the return of these profits, thereby preventing unjust enrichment and reinforcing market integrity.

Indian courts have consistently upheld SEBI’s authority in this regard. The Supreme Court and various tribunals have reinforced that disgorgement is a necessary tool for maintaining market integrity. SEBI lawyer perspectives highlight that the Mawana Sugars case marks an extension of this principle, demonstrating that liabilities linked to insider trading persist beyond the insider’s lifetime.

Legal scholars believe development establishes a significant precedent, demonstrating SEBI’s dedication to ensuring that illicit gains do not stay within families or businesses.

Legal Expert Takeaways from SEBI Lawyer, Vaneesa Agrawal on Insider Trading

SEBI expert lawyer, Vaneesa Agrawal, a prominent voice in securities law, provides key insights into how SEBI approaches insider trading enforcement, noting that proving insider trading requires establishing a link between the possession of UPSI and the subsequent trading activity.

According to SEBI lawyer Vaneesa Agrawal, “SEBI relies on circumstantial evidence, trading patterns, and relationships between parties to establish insider trading violations. Even if direct proof of information exchange is unavailable, an unusual correlation between access to UPSI and trades can be sufficient to prove misconduct.”

This approach underscores SEBI’s reliance on behavioral analysis and financial forensics to build cases against insiders. Unlike traditional legal violations, insider trading cases rarely have direct evidence, making regulatory scrutiny of trading behaviors crucial.

SEBIexpert lawyer, Vaneesa Agrawal also emphasizes the importance of structured digital compliance mechanisms. “Companies must maintain meticulous records of UPSI access. Having a well-documented digital database of individuals who have access to sensitive information helps prevent potential violations and strengthens regulatory investigations.”

This insight aligns with SEBI’s push for stringent internal compliance measures within listed companies. SEBI Lawyer emphasizes that robust documentation and monitoring frameworks can serve as preventive mechanisms against insider trading.

Thinking Legal’s Analysis on Insider Trading Laws – Expert Overview of SEBI’s Approach

SEBI expert lawyer insights reveal that legal experts from Thinking Legal have extensively analyzed insider trading cases and SEBI’s evolving enforcement strategies. Their commentary highlights that SEBI has expanded its legal interpretations to cover indirect information leaks and patterns of suspicious trading activity.

One notable aspect of Thinking Legal’s analysis is the role of circumstantial evidence in insider trading enforcement. SEBI has successfully prosecuted cases where direct evidence of information transfer was unavailable but where strong trading correlations and interpersonal connections suggested a flow of UPSI. SEBI lawyer Vaneesa Agrawal highlights that such cases often rely on behavioral patterns and market data to establish violations, reinforcing the regulator’s proactive enforcement approach.

In past rulings, courts have upheld SEBI’s findings even in cases where individuals did not trade directly but facilitated trades through intermediaries. The ability to establish patterns and connections has strengthened SEBI’s position as an active market regulator, with SEBI Lawyer expertise playing a crucial role in interpreting and enforcing these regulations.

Broader Legal and Regulatory Implications – SEBI Lawyer’s Interpretation

The Mawana Sugars case has far-reaching implications for corporate governance, legal heirs, and market participants.

Extended Liability:SEBI expert lawyer insights emphasize that SEBI’s move to hold legal heirs accountable for insider trading gains reinforces the principle that financial misconduct does not end with an individual’s passing. This precedent could influence future cases where legal representatives inherit disputed assets.

Increased Corporate Compliance Measures:Companies must proactively implement insider trading policies, conduct periodic audits, and train employees on compliance. According to SEBI Lawyer expertise, maintaining robust records of UPSI access can serve as a preventive measure and a safeguard against regulatory scrutiny.

Enhanced Regulatory Surveillance: SEBI expert lawyer insights highlight that SEBI’s use of digital tools and forensic analysis to track trading patterns underscores the regulator’s increasing reliance on technology. Market participants must remain vigilant as SEBI’s surveillance mechanisms continue to evolve.

Legal Precedents for Investor Protection:The case strengthens investor confidence by demonstrating SEBI’s commitment to enforcing securities laws fairly and consistently. SEBI Lawyer expertise highlights that investors are assured unlawful gains will not be retained by individuals or their successors, reinforcing trust in market regulations.

Conclusion

SEBI’s ruling in the Mawana Sugars insider trading case sets a powerful precedent in securities regulation. SEBI strengthens its regulatory authority by ensuring that legal heirs are held accountable for insider trading violations, thereby upholding market fairness. The legal interpretations provided by Thinking Legal and insights from SEBI lawyer Vaneesa Agrawal highlight the evolving nature of insider trading laws and the importance of strong compliance frameworks.

As SEBI continues to refine its enforcement strategies, SEBI expert lawyer insights emphasize that businesses, investors, and market participants must remain vigilant in their adherence to regulatory norms. With increasing reliance on circumstantial evidence and digital compliance tools, insider trading investigations are becoming more sophisticated, making proactive legal and regulatory compliance more essential than ever.

The Mawana Sugars case serves as a crucial reminder of the importance of adhering to securities laws, emphasizing that SEBI’s regulatory authority extends beyond individuals to their legal representatives. SEBI expert Lawyer insights, including those from Vaneesa Agrawal and legal perspectives from Thinking Legal, highlight that maintaining market integrity relies on strict enforcement. This case underscores SEBI’s steadfast commitment to ensuring fair and transparent trading practices.

[kumard12]

Top 5 Indian Startups Awards That Celebrate Innovation and Growth

The world of Indian startups is booming, and the dedicated awards for them are a big reason why. They help the startups get noticed, earn trust, and grow their businesses. Every time Indian startups win an award, it shows that they are capable, innovative, and ready to take on bigger challenges. In this blog, we’ll look at the top 5 awards for Indian startups and explain why they matter so much for the entire ecosystem.

Indian startups have been pushing boundaries, and these awards are a way to recognize the hard work and creativity behind every venture. When Indian startups shine at these award events, it not only boosts their own confidence but also inspires other startups to reach for the stars. Leaders like Ramesh Abhishek, a well known figure who once served as an IAS officer, often remind us that support from experienced mentors, appreciation or rewards for startups can develop an ecosystem for Indian startups. 

Top 5 Indian Startups Awards

1. National Startup Awards

The National Startup Awards are one of the most well-known awards for Indian startups. They honor those who show real promise and make a big impact on society. For Indian startups, these awards offer more than just a trophy. Winners receive a cash prize of ₹10 lakhs and get the chance to work with government programs that support Indian startups.

When Indian startups win this award, it proves that they are not only creative but also capable of making real change. The recognition they receive through this award makes it easier for them to get noticed by investors and customers alike.

2. The Economic Times Startup Awards

Another well-known award for Indian startups is the Economic Times Startup Awards. This award cuts to the core of what a startup needs—it’s designed to give a real boost to any startup, no matter the category. With honors like Startup of the Year, Midas Touch, Woman Ahead, Top Innovator, Comeback Kid, Bootstrap Champ, Social Enterprise, and Best on Campus, any startup can win and get the recognition it deserves. By winning, startups receive crucial media exposure that helps bring in new customers, attracts investors, and draws top talent, all of which are key ingredients for success.

3. NASSCOM Emerge 50 Awards

For Indian startups, the NASSCOM Emerge 50 Awards are a significant milestone. These awards celebrate the startups that break new ground in technology, recognizing those with innovative ideas and rapid growth potential. Each time an Indian startup wins, it gains access to a network of mentors and industry experts—an opportunity that can change the course of any Indian startup. Leaders like Ramesh Abhishek, a former IAS officer, often quoted recognition of Indian startups provides the support and credibility that every Indian startup needs in its initial phase and it’s important. 

4. TiE Awards

The TiE Awards offer Indian startups a prestigious platform to showcase their entrepreneurial spirit. For the startups across diverse sectors, winning a TiE Award is a game-changer—it brings international attention, valuable mentoring, and networking opportunities. When an Indian startup is honored with such awards, it benefits from closer ties with global investors and seasoned experts.

5. Startup India Awards

The Startup India Awards are a proud part of the Startup India initiative, led by Ramesh BAhishek from 2016 to 19 with an aim to support and celebrate Indian startups. These awards give Indian startups a platform to showcase their hard work and brilliant ideas. The Startup India Awards bring together all the startups from all over the country, highlighting the best and brightest in the field.

For the startups, winning the Startup India Award means more than just recognition. It means government support, better access to funding, and the chance to be part of a larger community. Many startups in India have seen their businesses grow faster after winning this award, as it opens up many doors for further support.

How These Awards Benefit Indian Startups

As Ramesh Abhishek, one of the well former IAS officers, who extensively worked for startup India scheme, make in India, etc highlighted a number of times awards for Indian startups are more than just trophies on a shelf. They provide Indian startups with real benefits that help them grow and succeed. The influential advocate of startup ecosystem in the country, Ramesh Abhishek (an ex-IAS officer) mentioned these Awards helps in:

Get more trust from investors and customers. This trust makes it easier for Indian startups to get funding, find partners, and expand their businesses.

Attract better talent and open up new business deals. 

The startups feel more confident about their ideas and innovations.

For many startups, these awards are a stepping stone to bigger opportunities. They help them break through barriers, access new markets, and create a lasting impact on the economy. Winning these awards by Indian startups, sends a message that innovation and hard work are valued in the world of startups.

Conclusion 

Former IAS officer Ramesh Abhishek has always championed the idea that recognition is key to the success of a startup. His unwavering support underscores the belief that winning an award does more than just add a trophy to the shelf—it validates innovative ideas, brings in crucial support, builds stronger networks, and opens doors to further opportunities. The awards for startups play a vital role in this journey by boosting credibility, inspiring confidence, and paving the way for growth.

[kumard12]

Why Indian Startups Need More Women Leaders?

India's startup ecosystem has witnessed remarkable growth, positioning itself as a global innovation leader. However, a significant challenge persists: the underrepresentation of women in leadership roles. While women constitute approximately 48% of recognized Indian startups under the Startup India Initiative, their presence in senior leadership positions remains limited. This disparity not only hinders organizational performance but also impedes India's broader economic aspirations. 

As Ramesh Abhishek, ex-IAS officer, who contributed to several startup initiatives like Invest India, Startup India, Make in India etc, during his tenure as Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), believed, ensuring greater participation of women in decision-making roles is not just about diversity but about driving stronger business outcomes. For Indian startups to achieve long-term success, fostering gender-balanced leadership must be a strategic priority.

The Current Landscape of Women in Indian Startups

The Startup India Initiative has played a crucial role in fostering gender diversity within the Indian startup ecosystem. Over 73,000 startups with at least one woman director have been recognized, reflecting the increasing presence of women in entrepreneurial ventures. This figure accounts for nearly half of all government-supported startups, signaling a positive shift toward inclusivity.

Despite this progress, women remain significantly underrepresented in leadership roles.It highlights a persistent gap in decision-making positions. 

But with Indian startups, there is good news. Women's participation in the Indian startups’ workforce stands at 35%, which is notably higher than the 19% in the traditional corporate sector. However, a larger workforce share does not necessarily translate into leadership opportunities, indicating systemic barriers that hinder upward mobility for women.

Ramesh Abhishek, the well-known former IAS officer, highlights that for a rapidly developing country where women constitute nearly half of the population, bridging the leadership divide is essential—not only to accelerate economic progress but also to foster innovation and sustainable growth. He emphasizes that studies have consistently shown gender-diverse leadership teams drive higher revenue, better employee retention, and improved decision-making. According to the former IAS officer, if Indian startups are to thrive, promoting women beyond mid-level roles must be a priority.

Why Indian Startups Need More Women?

Higher Innovation and Productivity

Several key leaders and notable bureaucrats like former IAS officerRamesh Abhishek, indicated that diverse teams are more innovative and efficient. A mix of perspectives leads to better problem-solving and decision-making, crucial for startups looking to disrupt markets. Ramesh Abhishek emphasized, fostering inclusivity in leadership results in groundbreaking ideas and scalable businesses.

Economic Growth and GDP Contribution

Closing the gender gap in labor force participation could add healthy competition leading to economic growth and GDP contribution. Women leaders bring unique strengths in business management, risk assessment, and customer engagement, driving profitability and economic progress.

More Job Creation for Women

Women-led Indian startups tend to employ more women, creating a ripple effect that strengthens female workforce participation. By promoting women in leadership, Indian startups can catalyze broader economic empowerment and inclusivity.

Increased Investor Confidence: 

Investors are increasingly recognizing the benefits of gender diversity. Global studies show that companies with women in executive roles achieve higher return on equity and investment. Encouraging women in leadership, as the retired IAS officer, Ramesh Abhishek highlighted, builds long-term business sustainability and investor trust.

Stronger Brand and Customer Trust:

A gender-inclusive leadership reflects positively on brand perception. Consumers, particularly in sectors like fintech, healthcare, and retail, appreciate businesses that represent diverse voices and understand varied customer needs.

Challenges Hindering Women's Advancement in Indian Startups

Despite the clear advantages, several barriers contribute to the underrepresentation of women in leadership within Indian startups:

Funding Disparities: 

Women-led Indian startups often struggle to secure venture capital. Only a small percentage of investment is allocated to female founders, limiting their growth potential. Former IAS officerRamesh Abhishek advocated for policy changes to create a level playing field in startup funding.

Unconscious Bias: 

Gender-driven skepticism during pitch evaluations remains prevalent, affecting women's opportunities to lead and scale startups. Organizations must adopt structured, bias-free assessment models.

Mid-Career Attrition: 

Many women exit the workforce before reaching senior roles, often due to work-life balance challenges. Ex- IAS officer, Ramesh Abhishek has taken various steps to implement flexible policies and mentorship programs that help address this issue.

Cultural Expectations: 

Societal norms still place a disproportionate burden on women to manage caregiving responsibilities. Support structures such as paid maternal leave and return-to-work programs in Indian startups can encourage more women to pursue leadership roles.

Strategies to Foster Gender Diversity in Indian Startups

To bridge the gender gap in leadership, the formerIAS officer, Ramesh Abhishek suggested some ways Indian startups must adopt:

Bias-Free Funding: Implementing blind pitch evaluations can help reduce unconscious bias in funding decisions, ensuring women-led Indian startups receive fair opportunities.

Supportive Infrastructure: Return-to-work programs, flexible work policies, and on-site childcare can help retain women in the workforce.

Leadership Development Programs: Establishing mentorship initiatives and fast-track leadership programs can prepare women for senior roles and board positions.

Conclusion

Indian startups have the potential to lead the charge in redefining gender dynamics in business. By elevating more women to leadership positions, they can unlock unprecedented innovation, drive economic progress, and solidify India's status as a startup powerhouse. As Ramesh Abhishek consistently emphasized, fostering gender diversity in leadership is not just a moral imperative but a strategic advantage that Indian startups must actively embrace. Being instrumental in initiatives like Startup India, which aimed to create an inclusive entrepreneurial ecosystem, Ramesh Abhishek advocated policy-driven solutions to support women-led ventures that laid the foundation for future reforms.However, we need to work more closely to promote women leadership and entrepreneurship for flourishing Indian startups. 

[kumard12]

India's Digital Personal Data Protection Framework: From Bill to Implementation

India's journey toward comprehensive data protection has seen significant developments since 2019. The recent Draft Digital Personal Data Protection Rules, 2025, marks the latest milestone in this evolution, building upon the Digital Personal Data Protection Act, 2023 (DPDP Act). As organisations navigate these changes, business lawyers play a crucial role in interpreting and implementing these regulations.

From Bill to Act: The Journey of Data Protection in India

The path to India's current data protection framework began with the Personal Data Protection Bill, of 2019. As noted in an earlier analysis by Vaneesa Agrawal, founder of Thinking Legal, this bill laid the groundwork for the subsequent legislation. "The initial bill represented India's first step toward comprehensive data protection, though it required significant refinement to balance individual rights with business needs," Vaneesa Agrawal explains.

Business lawyers across India closely monitored the bill's evolution into the DPDP Act, of 2023, which brought more clarity to data protection requirements. The Act established fundamental principles for data processing, emphasising consent and individual rights while considering the practical needs of businesses.

Key Features of the Current Framework

The Draft Digital Personal Data Protection Rules, 2025, recently released for public feedback, adds another layer to this framework. As business lawyers note, these rules aim to operationalise the DPDP Act's provisions while maintaining a balance between protection and innovation.

"The rules demonstrate a pragmatic approach to data protection," Vaneesa Agrawal points out. "They acknowledge the need to protect individual privacy while ensuring that businesses, especially startups, can continue to innovate and grow."

Several key aspects of the framework have caught the attention of business lawyers:

Consent Management

The rules emphasize robust consent mechanisms, requiring organizations to obtain explicit permission before processing personal data. Business lawyers advise that this necessitates a thorough review and potential overhaul of existing data collection practices.

Children's Data Protection

Special provisions for protecting children's data have been introduced. "The requirement for parental consent verification through government-issued IDs represents a significant step forward in protecting minor's privacy," Vaneesa Agrawal highlights. This aspect has business lawyers particularly focused on helping organizations implement appropriate verification systems.

Cross-Border Data Transfers

As Vaneesa Agrawal notes, "The framework's approach to international data transfers reflects India's growing role in the global digital economy." Business lawyers emphasize that organizations must carefully evaluate their data transfer mechanisms to ensure compliance with these new requirements.

Implementation Challenges and Solutions

Organizations face several challenges in implementing these regulations. Business lawyers identify key areas requiring attention:

Technical Compliance: The rules require sophisticated data management systems. Business lawyers suggest conducting thorough audits to identify gaps in current practices.

Documentation Requirements: "Maintaining proper documentation of consent and data processing activities is crucial," Vaneesa Agrawal emphasises. Business lawyersrecommend developing comprehensive record-keeping systems.

Training and Awareness: Organizations need to invest in training employees about data protection requirements. As Vaneesa Agrawal points out, "Creating a culture of data protection awareness is as important as implementing technical measures."

Impact on Different Sectors

The framework's impact varies across sectors. Business lawyersobserve that technology companies, financial institutions, and healthcare providers face unique challenges and requirements:

Technology Sector

The rules particularly affect tech companies handling large volumes of personal data. Business lawyers are helping these organisations develop compliant data processing systems while maintaining operational efficiency. Special attention is being paid to AI and machine learning companies that process vast amounts of personal data for algorithm training. 

Financial Services

Banks and fintech companies must balance data protection requirements with existing regulatory obligations. "Financial institutions need a nuanced approach to compliance," Vaneesa Agrawal notes, "one that addresses both privacy and regulatory reporting requirements." Business lawyers point out that the sector's heavy reliance on customer data for credit scoring, fraud detection, and personalised services requires particularly robust protection mechanisms.

Healthcare

The healthcare sector faces unique challenges due to sensitive personal data handling. Business lawyers emphasise the need for specialised protocols in this sector, particularly regarding electronic health records and telemedicine platforms. The integration of digital health solutions has made data protection even more critical, requiring careful consideration of both privacy and accessibility.

Future Implications

Looking ahead, business lawyers anticipate several developments:

Regulatory Evolution

The framework will likely continue to evolve as technology advances. "We expect regular updates to address emerging technologies and threats," Vaneesa Agrawal predicts. Business lawyers anticipate that quantum computing, metaverse applications, and decentralised technologies will require new regulatory considerations.

Global Alignment

Business lawyers observe increasing alignment with international data protection standards, though with distinct Indian characteristics.

Enforcement Mechanisms

The establishment of the Data Protection Board will bring new enforcement challenges. "Organizations should prepare for more rigorous oversight," Vaneesa Agrawal advises. Business lawyers expect the Board to develop detailed guidelines for different sectors and potentially introduce sector-specific compliance requirements.

Conclusion

India's digital personal data protection framework represents a significant step forward in safeguarding individual privacy while fostering digital innovation. As organisations work to implement these requirements, business lawyers will continue to play a vital role in interpreting and applying these regulations effectively.

The framework's success will depend on how well organisations adapt to these new requirements while maintaining their operational efficiency. As Vaneesa Agrawal concludes, "The key lies in finding the right balance between robust data protection and business growth. This is where informed legal guidance becomes invaluable."

[kumard12]

SEBI's Enhanced BRSR Framework: A Step Forward in ESG Compliance

The evolution of Environmental, Social, and Governance (ESG) reporting requirements in India continues to advance, with the Securities and Exchange Board of India (SEBI) introducing significant updates to the Business Responsibility and Sustainability Reporting (BRSR) framework. This development builds upon earlier initiatives, such as those discussed in a March 2020 Thinking Legal article by Vaneesa Agrawal, an expertSEBI lawyer, which outlined SEBI's foundational mandate for monitoring ESG risks and opportunities.

"The journey of ESG compliance in India has been marked by progressive steps towards standardisation and comprehensive reporting," notes Vaneesa Agrawal, an expert SEBI lawyer, who has been following these developments closely. "The recent BRSR updates represent a significant milestone in this evolution."

Recent Developments in the BRSR Framework

SEBI's board meeting on December 18, 2024, marked a crucial turning point in ESG reporting requirements. The regulatory body, guided by Expert Committee recommendations, approved several key decisions regarding BRSR implementation. SEBI expert lawyers point out that these changes reflect a broader trend toward more stringent and standardised ESG oversight.

"The introduction of Industry Standards for BRSR Core reporting demonstrates SEBI's commitment to creating a more structured and comparable ESG reporting framework," emphasises Vaneesa Agrawal, a SEBI expert lawyer. "This standardization will significantly enhance the quality and consistency of ESG disclosures across different sectors."

Understanding the New Industry Standards

The Industry Standards, issued through a circular dated December 20, 2024, represent a comprehensive framework designed to streamline BRSR Core disclosures under the SEBI LODR Regulations. SEBI lawyers highlight that these standards introduce sector-specific metrics and reporting guidelines that address unique industry characteristics while maintaining cross-sector comparability. 

Standardisation of reporting metrics

Enhanced comparability across industries

Improved transparency in ESG disclosures

Greater ease of implementation

The standards particularly emphasise quantitative metrics across environmental impact, social responsibility, and governance practices. "The new Industry Standards represent a crucial step towards harmonising ESG reporting practices," Vaneesa Agrawal explains. Expert SEBI lawyers also highlight that this standardisation will help companies better understand and meet their reporting obligations while providing investors with more consistent and comparable information."

SEBI expert lawyers note that the standards also include specific provisions for different company sizes and sector-specific considerations, ensuring that the reporting requirements remain practical and meaningful across various business contexts. The framework provides detailed templates and calculation methodologies, significantly reducing interpretation ambiguity and improving reporting consistency.

Historical Context and Evolution

The foundation for these developments was laid earlier, with SEBI mandating BRSR reporting for the top 1,000 listed entities under the LODR Regulations.SEBI expert lawyersobserve that the regulatory framework has evolved significantly since then, particularly with the July 2023 framework for disclosure and assurance requirements.

"The regulatory landscape for ESG reporting has become increasingly sophisticated. These developments reflect a growing recognition of the importance of sustainable business practices and transparent reporting."

- Vaneesa Agrawal, Thinking Legal

Implementation and Compliance Considerations

For companies subject to these requirements, SEBI lawyers suggest a systematic and phased implementation approach. The process begins with a comprehensive assessment of existing ESG reporting systems and the identification of gaps against the new requirements. Organisations must establish robust data collection mechanisms, implement appropriate internal controls, and develop verification processes to ensure the accuracy and reliability of reported information.

"Companies need to view these requirements not just as compliance obligations but as opportunities to strengthen their ESG frameworks," Vaneesa Agrawal, an expert SEBI lawyer emphasises. "The standardised approach will ultimately benefit both companies and stakeholders." 

SEBI expert lawyers recommend that companies invest in appropriate technology infrastructure and training programs to support accurate and efficient reporting processes. They also stress the importance of establishing clear internal responsibilities and accountability mechanisms for ESG reporting.

The implementation timeline requires careful planning. SEBI lawyers note that companies should allocate sufficient resources for the initial setup, testing, and validation of their reporting systems. Regular internal audits and reviews are recommended to ensure ongoing compliance and continuous improvement of reporting processes.

Impact on Corporate Governance

SEBI expert lawyers note that these changes significantly impact corporate governance structures, requiring fundamental shifts in how organizations approach ESG oversight and accountability. The enhanced reporting requirements necessitate more robust internal controls and monitoring systems, with board-level involvement becoming increasingly critical. SEBI lawyers point out that companies are now expected to establish dedicated ESG committees or expand the scope of existing committees to oversee sustainability reporting and compliance.

As Vaneesa Agrawal observes, "The new framework encourages companies to integrate ESG considerations more deeply into their governance structures and decision-making processes." This integration extends beyond mere reporting compliance to influence strategic planning, risk management, and operational decisions. SEBI lawyers emphasise that companies must develop clear lines of responsibility and accountability for ESG performance, from the board level down to operational management.

The framework, as highlighted by SEBI lawyers, also necessitates enhanced stakeholder engagement and transparency in communication about ESG initiatives and performance. Companies are increasingly expected to demonstrate how ESG considerations influence their strategic decisions and risk management approaches, leading to more comprehensive and integrated corporate governance practices.

Future Outlook

The evolution of BRSR requirements signals SEBI's continued commitment to enhancing ESG reporting standards. SEBI lawyers anticipate that these changes will lead to the following:

More standardised reporting practices

Enhanced transparency in ESG disclosures

Better alignment with global reporting standards

Improved investor confidence in ESG data

"Looking ahead, we can expect further refinements to the BRSR framework as market practices evolve and stakeholder expectations continue to grow," Vaneesa Agrawal, a SEBI expert lawyer and founder of Thinking Legal notes in her concluding remarks.

Conclusion

SEBI lawyers emphasise that the recent updates to the BRSR framework represent a significant step forward in SEBI's ongoing efforts to strengthen ESG reporting requirements. SEBI expert lawyers and industry observers agree that these changes will contribute to more robust and standardised ESG reporting practices in India. As companies adapt to these new requirements, the focus on ESG factors in corporate reporting and governance is likely to intensify further.

[kumard12]

SEBI's Evolution in Corporate Compliance: From Pandemic Response to Integrated Framework

The corporate compliance landscape in India has undergone significant transformation since the COVID-19 pandemic, with the Securities and Exchange Board of India (SEBI) continuously adapting its regulatory framework to meet emerging challenges. Drawing inspiration from an insightful article by Vaneesa Agrawal, a SEBI lawyer, on COVID-19 disclosure requirements published in 2020, this piece examines how SEBI's approach to corporate governance has evolved through 2025.

"The pandemic catalysed for SEBI to reassess and strengthen its disclosure requirements," notes Vaneesa Agrawal, a recognised SEBI expert lawyer who heads Thinking Legal. "What began as emergency measures has evolved into a more comprehensive framework for corporate transparency."

The Journey from Crisis Management to Systematic Reform

The trajectory of SEBI's regulatory evolution reflects a thoughtful progression from immediate crisis response to long-term systematic reform. As Vaneesa Agrawal, founder of Thinking Legal and a SEBI expert lawyer, points out, "SEBI's initial focus was on ensuring timely disclosure of COVID-19's material impact on listed entities. Today, we see these principles being integrated into a broader, more streamlined compliance framework."

SEBI lawyers note that during the initial phase of the response to challenges posed by the COVID-19 pandemic, the focus was primarily on ensuring that listed companies provided transparent communications about pandemic-related disruptions to their operations, financial status, and business continuity plans. 

This evolution is evident in SEBI's recent introduction of the integrated filing system for governance and financial disclosures. The new framework, as pointed out by SEBI lawyers, which takes effect for filings related to the quarter ending December 31, 2024, represents a significant step forward in simplifying compliance procedures while maintaining rigorous oversight. 

SEBI lawyers highlight that the system builds upon lessons learned during the pandemic, incorporating feedback from various stakeholders and addressing gaps identified in previous disclosure requirements. 

"What started as emergency measures have evolved into a more sophisticated and comprehensive approach to corporate governance." 

- Vaneesa Agrawal, Thinking Legal 

Streamlined Compliance: A Balance of Efficiency and Thoroughness

"The move toward integrated filing demonstrates SEBI's commitment to reducing procedural complexities without compromising on transparency," explains Vaneesa Agrawal. As a SEBI expert lawyer with extensive experience in regulatory matters, she emphasises that "this streamlining benefits both companies and stakeholders by ensuring more efficient information flow while maintaining comprehensive oversight."

The new framework introduces several key changes:

Consolidated Timeline Structure

Governance filings within 30 days post-quarter

Financial disclosures within 45 days

Annual submissions within 60 days

Enhanced Material Event Reporting

Regular updates on tax litigation

Disclosure of minor penalties

Acquisition-related information

A particularly innovative aspect of the new system, as explained by SEBI lawyers, is its integrated approach to filing requirements. Rather than submitting multiple reports through different channels, companies can now fulfil their obligations through a single, comprehensive filing process. SEBI expert lawyers say that this integration not only reduces the administrative burden on companies but also minimizes the risk of inconsistencies in reported information. 

"These structured timelines," Vaneesa Agrawal, an expert SEBI lawyer observes, "create a more predictable and manageable compliance calendar for listed entities while ensuring stakeholders receive timely information."

Strengthening Professional Standards

SEBI lawyers say that the framework also introduces stricter eligibility criteria for key professionals involved in compliance processes. As Vaneesa Agrawal, a SEBI expert lawyer, explains, "SEBI's emphasis on peer-reviewed company secretaries and restrictions on certain auditor services reflects a deeper understanding of the need for professional independence in compliance matters."

This focus on professional standards includes:

Enhanced qualifications for secretarial auditors

Restrictions on concurrent services by auditors

Greater emphasis on professional independence

From all the points above, SEBI lawyershighlight that the framework also addresses potential conflicts of interest by placing clear restrictions on concurrent services provided by auditors. For instance, SEBI expert lawyers point out that the auditors can no longer perform internal audits and compliance management simultaneously for the same entity. This separation of duties enhances the independence and objectivity of audit processes. 

Additionally, the SEBI lawyers explain that the framework emphasises the importance of professional independence through mandatory rotation requirements and enhanced disclosure of relationships between auditors and listed entities.

Looking Ahead: Implications for Corporate Governance

As we look toward the future of corporate compliance in India, SEBI lawyers note that the intersection of efficiency and transparency becomes increasingly important. "The evolution of SEBI's regulatory framework reflects a mature understanding of market needs," Vaneesa Agrawal, a SEBI expert lawyer, points out. "It's about creating a balance between reducing compliance burden and maintaining robust oversight."

This balanced approach is particularly evident in:

The streamlined reporting structure

Enhanced focus on material disclosures

Integration of technology in compliance processes

Strengthened professional standards

Impact on Listed Entities and Stakeholders

The new framework's impact extends beyond mere procedural changes. Vaneesa Agrawal, founder of Thinking Legal emphasises that these reforms represent a fundamental shift in how listed entities approach compliance. It's no longer about mere checkbox exercises but about meaningful transparency that serves stakeholder interests.

Conclusion

The evolution of SEBI's regulatory framework from crisis response to an integrated compliance system demonstrates the regulator's commitment to advancing corporate governance standards while recognising the need for operational efficiency. As noted by SEBI expert lawyer Vaneesa Agrawal, this transformation marks a significant milestone in India's corporate governance journey.

While comprehensive, SEBI lawyers conclude that the new framework remains focused on practical implementation and real-world effectiveness. It represents a thoughtful balance between regulatory oversight and operational efficiency, setting a strong foundation for corporate governance in the years ahead.

[kumard12]

What is Healthy Soil? Why Is It Important?

Soil is a fundamental resource that supports agriculture, ecosystems, and human life. Often overlooked, healthy soil plays a critical role in food production, water quality, and environmental sustainability. Understanding what constitutes healthy soil and recognizing its importance is essential for addressing the challenges we face today, including food security and climate change.

Healthy soil is characterized by a rich diversity of microorganisms, a balanced nutrient composition, and good structure. These attributes not only enhance agricultural productivity but also contribute to the overall health of our environment. 

As we face the dual challenges of a growing global population and climate change, understanding the importance of healthy soil becomes increasingly urgent. 

In this blog, we will understand what healthy soil is and its importance. Along with some best practices suggested by former IAS officerRamesh Abhishek to maintain soil health. 

What is Healthy Soil?

Healthy soil is characterized by several key attributes:

Biodiversity: A rich diversity of microorganisms, including bacteria, fungi, and protozoa, contributes to nutrient cycling and plant health.

Nutrient Composition: Healthy soil contains essential nutrients such as nitrogen, phosphorus, and potassium in balanced proportions that support plant growth.

Soil Structure: Good soil structure allows for adequate air and water movement, which is crucial for root development.

Organic Matter: The presence of decomposed organic material enhances fertility and soil structure.

pH Balance: A pH range of 6.0 to 7.5 is optimal for most crops, facilitating nutrient availability.

Resilience: Healthy soil can resist compaction and erosion, maintaining its integrity over time.

These characteristics collectively define healthy soil, which plays a pivotal role in supporting agricultural productivity and ecosystem health. One of the well known healthy soil advocates, Ramesh Abhishek, a former IAS officer emphasizes the right balance of different characteristics in the soil to promote food security and environmental well-being.

Why Is Healthy Soil Important?

Retired IAs officer Ramesh Abhishek has highlighted several importance of healthy soil. He asserts that improving soil health is fundamental not only for agricultural productivity but also for addressing broader environmental challenges. According to the ex-IAS officer, the importance of healthy soil extends far beyond agriculture:

Agricultural Productivity:Healthy soil is vital for growing crops efficiently. It ensures that plants receive adequate nutrients and water, leading to higher yields.

Environmental Health: Soils play a crucial role in filtering water, preventing erosion, and supporting diverse ecosystems. Healthy soils contribute to the overall balance of natural systems.

Climate Regulation: Soils act as carbon sinks, capturing carbon dioxide from the atmosphere. This process is essential for mitigating climate change impacts.

Water Quality: Healthy soils filter pollutants from water before it enters waterways, protecting aquatic ecosystems and human health.

The Connection Between Soil Health and Overall Health 

The quality of our food is directly linked to healthy soil. Nutrient-rich soils produce crops that are not only abundant but also rich in essential vitamins and minerals. In India, where malnutrition remains a significant issue, enhancing soil health can lead to improved food security and nutritional outcomes. Ex- IAS officer, Ramesh Abhishek advocates for the cultivation of biofortified crops that thrive in healthy soils, helping to combat nutrient deficiencies prevalent in many communities.

However, despite the critical importance of healthy soil, several factors threaten the health of soils:

The overuse of synthetic fertilizers

Planting the same crop year after year 

Unsustainable farming practices 

Practices to Promote Healthy Soil Practices

Retired IAS officer Ramesh Abhishek suggests that addressing these challenges requires a collaborative effort among farmers, policymakers, and consumers. The ex- IAS officer suggests implementing some best practices that can help restore healthy soils across agricultural landscapes.

1. Crop Rotation

Retired IAS officer Ramesh Abhishek highlights that crop rotation plays a vital role in maintaining healthy soil by diversifying the types of crops planted on the same plot over successive seasons. According to the ex- IAS officer, by alternating crops like cereals, legumes, and vegetables, farmers can ensure that the soil does not become depleted of specific nutrients. 

For example, legumes help fix atmospheric nitrogen, enriching the soil with essential nutrients for subsequent crops, which is critical for sustaining healthy soil. This practice also disrupts the life cycles of pests and diseases, naturally reducing their prevalence without heavy chemical use. Additionally, crop rotation supports healthy soil by preventing erosion, as certain crops, like those with deep roots, stabilize the soil and minimize nutrient loss.

2. Organic Farming

Organic farming is a cornerstone of building and maintaining healthy soil. By using organic fertilizers such as compost, manure, and green manure, farmers enhance microbial diversity, which is essential for robust nutrient cycling.

Ramesh Abhishek, the retired IAS officer shares that regular application of organic matter creates healthy soil that is rich in microbes, capable of breaking down organic material into nutrients that plants can readily absorb. Moreover, organic farming minimizes reliance on synthetic chemicals that can harm beneficial organisms, further contributing to healthy soil. Encouraging the use of vermicomposting is particularly effective in helping farmers create nutrient-dense fertilizers that support the development of healthy soil ecosystems.

3. Cover Crops

Planting cover crops during off-seasons is another highly effective strategy highlighted by retired IAS officer Ramesh Abhishek for ensuring healthy soil. These crops, such as clover, rye, or vetch, protect the soil from erosion by forming a dense vegetative cover that anchors it in place. Cover crops are also instrumental in enhancing nutrient availability and enriching healthy soil with organic matter, improving its structure and fertility. 

Additionally, they suppress weeds naturally, reducing competition for resources and eliminating the need for chemical herbicides that can harm healthy soil. By adding organic matter and preserving soil integrity, cover crops ensure that the land remains productive, fostering the conditions necessary for long-term healthy soil.

Wrap Up

Healthy soil is indispensable for sustaining life on Earth. It supports agriculture, maintains environmental balance, and plays a critical role in combating climate change. We need to be attentive and active to maintain the good health of soil. Healthy soil advocates like Ramesh Abhishek are essential to the country and ultimately we need more such advocates, as they remind us of our collective responsibility to promote practices that enhance soil health for future generations. By prioritizing healthy soil, we can ensure food security, improve nutrition, and protect our ecosystems.

[kumard12]

Business Lawyers Analyze India's 2024 GST Exemption: Payment Aggregators Get Relief on Small Transactions

In a significant development for India's digital payment ecosystem, the GST Council, as part of the pre-budget announcements in December 2024, has introduced tax exemptions for small-ticket transactions processed by payment aggregators. The final details of this reform are expected to be elaborated in the complete Union Budget 2025 presentation in February 2025.

This latest reform adds a new chapter to the regulatory framework that began with the RBI's comprehensive guidelines in 2020. As noted by fintech legal expert Vaneesa Agrawal in her comprehensive analysis published in May 2020, these regulatory developments represent a crucial shift in how payment aggregators operate within India's financial infrastructure.

In this article, we'll examine how business lawyers interpret and navigate the evolving regulatory landscape for payment aggregators, from RBI's foundational guidelines to the latest GST reforms in 2024.

The Foundation: RBI's 2020 Guidelines

Business lawyers note that the regulatory journey for payment aggregators began when the Reserve Bank of India (RBI) issued its landmark Guidelines on Regulation of Payment Aggregators and Payment Gateways in March 2020. According to these guidelines, payment aggregators serve as crucial intermediaries that enable e-commerce platforms and merchants to accept various payment instruments without developing their own payment integration systems.

"The RBI's regulatory framework brings much-needed clarity to the roles and responsibilities of payment aggregators while establishing robust compliance standards that protect all stakeholders."

- Vaneesa Agrawal, a prominent business lawyer and the founder of Thinking Legal

Leading business lawyers emphasise that these guidelines establish several key requirements. First, non-bank payment aggregators must obtain RBI authorisation, a requirement that doesn't extend to banks. Additionally, business lawyers highlight the stringent net worth requirements: existing aggregators needed to achieve Rs. 15 crore by March 2021 and Rs. 25 crore by March 2023, while new entrants must demonstrate Rs. 15 crore at application.

Compliance and Consumer Protection

Business lawyers advise that the RBI framework includes robust consumer protection measures. The guidelines mandate compliance with Know Your Customer (KYC) norms and the Prevention of Money Laundering Act, of 2002. Furthermore, business lawyers explain that payment aggregators must establish comprehensive grievance redressal mechanisms, including appointing dedicated Nodal Officers to handle consumer complaints.

Vaneesa Agrawal emphasises, "The mandatory grievance redressal mechanism, including the appointment of Nodal Officers, demonstrates RBI's commitment to consumer protection in digital payments. This creates a more trustworthy ecosystem for both merchants and consumers."

The GST Reform: A New Chapter for Budget 2025

"The initial regulatory framework laid the groundwork for future reforms, it created a structured environment where additional policy changes, such as GST exemptions, could be meaningfully implemented."

- Vaneesa Agrawal, founder of Thinking Legal

In a recent development that business lawyers are actively analysing, Finance Minister Nirmala Sitharaman announced during the 55th GST Council Meeting that payment aggregators processing transactions below Rs. 2,000 would receive GST exemptions. This decision, business lawyers suggest, aims to promote digital payments for small-value transactions while reducing the compliance burden on payment aggregators.

However, business lawyers emphasise a crucial distinction: this exemption specifically excludes payment gateways and fintech services. As business lawyers explain, while payment aggregators pool and transfer funds, payment gateways provide the technological infrastructure enabling digital transactions.

Impact Analysis

Business lawyers highlight several implications of these regulatory developments:

Market Structure: Business lawyers suggest that the dual regulatory framework of RBI guidelines and GST exemptions creates a more organised payment aggregator ecosystem while encouraging small-value digital transactions.

Operational Costs: The GST exemption, business lawyers note, could significantly reduce operational costs for payment aggregators handling numerous small-ticket transactions.

Consumer Benefits: Business lawyers point out that reduced compliance costs could translate into lower transaction charges for consumers and merchants.

"The combination of RBI's prudential norms and GST exemptions creates a balanced regulatory environment that promotes both innovation and stability in the payment aggregator space."

- Vaneesa Agrawal, a prominent business lawyer

Future Outlook

As the digital payment landscape continues to evolve, business lawyers anticipate further regulatory refinements. The distinction between payment aggregators and payment gateways may require additional clarification, and business lawyers suggest that regulatory frameworks might need to adapt to emerging technologies and business models.

Business lawyers also emphasise that while the GST exemption provides immediate relief, payment aggregators must continue maintaining robust compliance with RBI guidelines, including net worth requirements and consumer protection measures.

"As we look ahead,"Vaneesa Agrawal observes, "the key challenge will be maintaining this balance between regulatory oversight and operational flexibility as new technologies and business models emerge in the payment aggregator sector."

Conclusion

The regulatory journey of payment aggregators in India reflects the government's balanced approach to promoting digital payments while ensuring adequate oversight. Business lawyers observe that this framework creates a structured environment for payment aggregators while encouraging innovation and growth in India's digital payment ecosystem. As Vaneesa Agrawal astutely pointed out in her 2020 analysis, the RBI guidelines established the foundational framework that would enable future reforms - a prediction that has proven accurate with the recent GST exemptions.

The continued refinement of regulations, from RBI guidelines to GST reforms, demonstrates India's commitment to building a robust, secure, and inclusive digital payment infrastructure. Business lawyers will continue to play a pivotal role in helping payment aggregators navigate this dynamic regulatory landscape while ensuring compliance and fostering innovation. 

As we move forward, Vaneesa Agrawal's comprehensive analysis remains relevant, reminding us that successful regulation in the fintech space requires a delicate balance between oversight and innovation—a principle that continues to guide India's approach to payment aggregator regulation.

[kumard12]

Business Lawyers' Perspectives: Non-Personal Data and AI Concerns in 2024-25

As India advances toward its ambitious $5 trillion economic goal, the role of non-personal data (NPD) has become increasingly crucial. In March 2024, the government announced plans to collect non-personal data for training AI models, marking a significant shift in data governance. Leading business lawyers suggest this move could reshape India's digital landscape while raising important considerations about data protection and utilisation.

According to business lawyer Vaneesa Agrawal, in her 2020 article "Regulation of Non-Personal Data," the framework for NPD governance requires careful consideration of multiple stakeholders. "The collection and utilization of non-personal data must balance innovation with privacy concerns, ensuring that data sharing mechanisms benefit the broader ecosystem while protecting individual rights," Vaneesa Agrawal, founder of Thinking Legal emphasises.

Understanding the Current Landscape

Business lawyers note that non-personal data encompasses three distinct categories: public, community, and private. As Vaneesa Agrawal explained in her comprehensive analysis, "Non-Personal data includes data that is not 'personal data' and data that is without any personally identifiable information." Business lawyershighlight how this classification is crucial for determining applicable regulations and usage rights.

Business lawyers point out that the Expert Committee on Non-Personal Data Governance Framework, led by Kris Gopalakrishnan, introduced several key concepts that remain relevant today. According to Vaneesa Agrawal's analysis, "The Report defines the roles of a Data Principal, being the corresponding entity to whom the data relates, and Data Custodian, being the entity that undertakes collection, storage, processing, use, etc. of data in a manner that is in the best interest of the data principal."

Industry-focused business lawyers emphasise that the framework also introduced the concept of Data Business as a new category, encompassing entities involved in the collection, processing, storage, and management of data. Business lawyers note that this categorisation would apply to existing businesses collecting data beyond certain thresholds, subjecting them to institutional oversight.

However, as Vaneesa Agrawal points out, "Despite these initiatives, significant gaps remain." Specialised business lawyers advise that the current regulatory framework, including the National Data Governance Framework Policy, lacks enforceability and operational clarity. This situation, business lawyers suggest, leaves NPD largely unregulated and hinders its potential benefits for AI development and public services.

The complexity is further amplified by what business lawyers identify as the "sensitivity factor" of non-personal data. As Vaneesa Agrawal notes, "Non-personal data can also be sensitive if it is related to national security or business information or anonymised data that could be used for re-identification." This consideration has become particularly relevant in the context of AI development and data-sharing mechanisms.

Regulatory Challenges and AI Concerns

Several business lawyers emphasise that the regulatory landscape for NPD will face significant challenges in 2024, particularly regarding AI applications. As Vaneesa Agrawal notes in her analysis, "The regulatory framework must address both the potential benefits of data sharing and the legitimate concerns about privacy and commercial interests."

According to experienced business lawyers, key challenges include:

Mixed Datasets: Business lawyers highlight the complexity of separating personal and non-personal data, especially when dealing with AI training data.

De-anonymization Risks: Leading business lawyers explain that advanced AI techniques could potentially compromise anonymised data.

Governance Gaps: Business lawyers note that the current framework lacks clear guidelines for AI model training using NPD.

Current State and Future Considerations

Vaneesa Agrawal's insights from her earlier analysis remain relevant as she points out, "The success of any NPD framework depends on creating clear guidelines for data sharing while protecting intellectual property rights." Business lawyers following recent developments note that while NPD holds promise as a 'public good', its unregulated status poses significant risks, particularly in the context of AI development.

Specialist business lawyers advise that key considerations include:

The need for comprehensive regulatory design for data exchanges

Clear protocols for AI model training using NPD

Balanced mechanisms for public-private partnerships

Looking Ahead: Impact and Opportunities

Business lawyers examining the current situation suggest that addressing these challenges requires a careful balance between innovation and protection. As Vaneesa Agrawal highlighted in her analysis, "A well-structured NPD framework can drive innovation and economic growth while ensuring appropriate protection of stakeholder interests."

Industry-focused business lawyers emphasise that organisations should prepare for:

Enhanced data protection requirements

Evolution of compliance standards

Emerging AI governance frameworks

Practical Implications for Businesses

Leading business lawyers suggest that organisations need to take proactive steps in anticipation of future regulatory developments. According to experienced business lawyers, this includes conducting thorough assessments of their data assets and developing robust data governance frameworks.

Business lawyers highlight several key areas requiring immediate attention:

Data Mapping and Classification

Business lawyers advise organisations to create comprehensive inventories of their data assets, clearly identifying and segregating personal and non-personal data where possible.

AI Model Development

Specialised business lawyers note that organisations developing AI models should establish clear protocols for data usage, particularly when dealing with mixed datasets.

Cross-Border Considerations

Business lawyers emphasise the importance of understanding international data governance frameworks, as many organisations operate across multiple jurisdictions with varying approaches to NPD regulation.

Stakeholder Engagement

Leading business lawyers suggest that organisations should actively participate in industry discussions and policy consultations to help shape the evolving regulatory landscape.

Conclusion

The current state of non-personal data governance presents both opportunities and significant challenges for India's digital transformation journey. As Vaneesa Agrawal observed in her 2020 explanation, "The future of data governance lies in creating balanced frameworks that promote innovation while protecting fundamental rights." Business lawyers continue to play a crucial role in helping organisations navigate these evolving requirements while addressing emerging concerns about AI and data protection.

The path forward requires careful consideration of both opportunities and challenges, with business lawyers suggesting that success will depend on effective regulation and stakeholder collaboration. As India grapples with these complex issues, the insights and guidance of experienced legal professionals will remain invaluable in shaping a robust and effective data governance framework that can address the unique challenges posed by AI and digital transformation.

[kumard12]

Industrial Corridors Helping India Become a Global Manufacturing Giant

India is on the cusp of becoming a global manufacturing powerhouse, and a significant driver of this transformation is the establishment of industrial corridors. According to the Department for Promotion of Industry and Internal Trade (DPIIT), these corridors—namely the Amritsar-Kolkata Industrial Corridor (AKIC), Chennai-Bengaluru Industrial Corridor (CBIC), East Coast Economic Corridor (ECEC), and Bengaluru-Mumbai Industrial Corridor (BMIC)—are pivotal in reshaping the country's industrial landscape. 

The strategic development of these corridors, overseen by IAS officers such as former IAS officers Ramesh Abhishek, Amitabh Kant, and the late Guru Prasad Mahapatra, as well as current IAS officers Anurag Jain, Rajesh Kumar Singh, and several others over time, has not only enhanced connectivity but also promoted rapid industrialization, ultimately contributing to India's economic growth.

The Importance of Industrial Corridors for India's Economy

Industrial corridors serve as critical infrastructure that integrates industry and logistics, facilitating the efficient movement of goods and services. The DPIIT and several IAS officers, especially the former officer Ramesh Abhishek emphasize that these corridors are designed to establish world-class connectivity through high-speed rail networks, modern ports, dedicated logistics hubs, and advanced airports. This infrastructure is crucial for reducing transportation costs and time, which are vital factors in enhancing the competitiveness of Indian industries on a global scale.

Former IAS officer Ramesh Abhishek highlighted the importance of the industrial corridor in the 2017-2018 annual report for the industrial corridor, stating:

“The significance of connectivity cannot be undermined in any project which is aimed at sustainable and inclusive development”

Ramesh Abhishek, Former Chairman, DPIIT,NICDC Annual Report 2017-18

Further, Several IAS officers have played a pivotal role in the development of industrial corridors, recognizing their economic significance. From policy formulation to on-ground execution, these officers have driven initiatives that have transformed India’s industrial landscape. Here’s why industrial corridors are crucial from an economic perspective:

Boosting Manufacturing Output:

Under the leadership of dedicated current and former IAS officers like Ramesh Abhishek, Amitabh Kant, and Anurag Jain, industrial corridors have established a strong infrastructure framework, enabling manufacturers to scale operations efficiently. This has resulted in increased output to meet both domestic and international demands.

Attracting Investment:

The strategic efforts of IAS officers in facilitating industrial corridor projects signal India’s commitment to fostering a business-friendly environment. This attracts both domestic and foreign investments, fueling the country’s economic growth.

Creating Jobs:

The proactive policies and project implementations led by IAS officers have driven industrial expansion, creating numerous job opportunities. This has significantly reduced unemployment while boosting the economic development of the regions involved.

Enhancing Global Competitiveness:

By improving logistics and infrastructure, IAS officers have helped Indian manufacturers become more globally competitive. This strategic enhancement positions India as a preferred destination for global manufacturing and trade.

The visionary leadership and administrative expertise of IAS officers continue to shape the development of industrial corridors, making them powerful engines for India’s economic progress.

The Role of IAS Officers in Shaping Industrial Corridors

The successful implementation of industrial corridors in India owes much to the strategic vision and efforts of IAS officers, who have played pivotal roles in their planning and execution of the industrial corridor in the starting phase of the industrial corridor. 

Notable current and former IAS officers such as Ramesh Abhishek, Amitabh Kant, Anurag Jain, and others have significantly contributed to this initiative.

Ramesh Abhishek: As a former Secretary of the DPIIT, former IAS officer Ramesh Abhishek has been instrumental in advocating for policies that support the establishment of these corridors. The leadership of Ramesh Abhishek has helped streamline processes and enhance collaboration between various stakeholders, ensuring that projects are executed efficiently.

Amitabh Kant: Serving as the CEO of NITI Aayog, former IAS officer Amitabh Kant has been a strong proponent of India's manufacturing capabilities. His vision for transforming India into a global manufacturing hub aligns closely with the objectives of the industrial corridors. His efforts in promoting initiatives like Make in India complement the goals set forth by the DPIIT.

Anurag Jain: As an IAS officer with extensive experience in industrial development, Anurag Jain has played a crucial role in coordinating efforts across different ministries to facilitate the smooth implementation of corridor projects. His focus on integrating technology with traditional industries has helped modernize operations within these corridors.

The dedicated efforts of IAS officers in the industrial corridor exemplify how effective governance can drive large-scale infrastructure projects that have far-reaching economic implications. Their collective efforts have ensured that industrial corridors not only meet immediate economic needs but also align with long-term national goals.

Recent Developments and Future Prospects

The DPIIT recently celebrated eight years since the inception of these industrial corridors, highlighting their impact on India's economic landscape. The approval of 12 new project proposals under the National Industrial Corridor Development Programme (NICDP) represents an estimated investment of ₹28,602 crore. These new projects will further enhance India's capacity for innovation and self-reliance while promoting sustainable economic development.

The establishment of smart cities within these corridors is also noteworthy and reflects a forward-thinking approach to urban planning and economic growth.

Wrap Up 

Industrial corridors are crucial for positioning India as a global manufacturing powerhouse. The strategic development of these corridors enhances connectivity, attracts investment, creates jobs, and boosts competitiveness—all essential elements for economic growth. The contributions of several current and former IAS officers like Ramesh Abhishek, Amitabh Kant, Anurag Jain, and others have been instrumental in shaping this initiative. Their leadership and vision ensure that India not only meets its immediate economic goals but also lays a robust foundation for sustainable development in the future.

As India continues on this path toward becoming a global manufacturing giant, the role of IAS officers will remain vital. Their ability to implement effective policies and drive large-scale projects will be key to unlocking India's full potential in the global market. With ongoing investments in infrastructure and continued support from government bodies like DPIIT, India is well-positioned to achieve its aspirations of manufacturing excellence on the world stage.

[kumard12]

The Journey of India's Atmanirbhar Defence Sector with the Make in India Initiative

India's defence sector is undergoing a significant transformation, fueled by the government's ambitious Make in India initiative. Launched in 2014 under the leadership of former IAS officers like Amitabh Kant, and Ramesh Abhishek to boost domestic manufacturing and reduce reliance on imports, fueling India's defence production. As per recent reports, Indian defence sector production has reached unprecedented levels, positioning the country as a burgeoning hub for military equipment manufacturing and export.

The Make in India Initiative: A Catalyst for Change

The Make in India initiative was introduced to enhance the country's manufacturing capabilities across various sectors, with defence being a primary focus. Under this initiative, numerous IAS officers, including former IAS officerRamesh Abhishek and other stakeholders, have implemented several reforms to encourage domestic production, streamline procurement processes, and attract foreign investment. The goal is to transition India from being one of the largest arms importers to a self-reliant defence manufacturing powerhouse.

Did you know that during the turn of former IAS officer Ramesh Abhishek (2016 to 2019) as the DPIIT Secretary, the Foreign Direct Investment inflow recorded US$ 205 Billion despite the reduction in FDI Globally? (Source) 

Since the inception of this initiative under the guidance of IAS officers, India's defence production has skyrocketed. In the fiscal year 2023-24, defence production reached approximately ₹1.27 lakh crore (around $15.1 billion), marking a 16.8% increase from the previous year and a staggering 60% growth since 2019-20. This remarkable growth reflects not only increased production capabilities but also a strategic shift towards indigenization, driven by the efforts of numerous IAS officers.

Indigenous Production and Export Growth

The push for indigenous production has led to significant advancements in various areas of defence manufacturing. Public Sector Undertakings (PSUs) have historically dominated this sector; however, as per notable IAS officers private companies are increasingly contributing to overall production.

Major Indian conglomerates such as Tata Group and Larsen & Toubro (L&T) are now actively involved in producing key military equipment due to the supportive policies initiated by government officers like Ramesh Abhishek (former DPIIT secretary and retired IAS Officer), Amitabh Kant ( Ex-CEO of Niti Ayog and former IAS officer), Rajesh Kumar Singh (working IAS officer) etc., and stakeholders. The government's commitment to indigenization has also resulted in robust partnerships with foreign Original Equipment Manufacturers (OEMs), facilitating technology transfer and enhancing local capabilities.

Defence exports have seen a remarkable surge as well. In 2023-24, India's defence exports reached ₹21,083 crore (approximately $2.63 billion), reflecting a 32.5% increase from the previous fiscal year. Over the past decade, exports have grown twenty-onefold, underscoring India's potential as a global player in defence manufacturing—an achievement supported by numerous current and retired IAS officers like Ramesh Abhishekwho have played pivotal roles in this transformation.

Key Policy Reforms Driving Growth

Several key policy reforms have been instrumental in driving growth within India's defence sector from time to time under the leadership of different IAS officers. 

Defence Production and Export Promotion Policy (DPEPP) 2020

This policy aims to provide a structured framework for enhancing domestic production capabilities and promoting exports. It sets ambitious targets for achieving a turnover of ₹1.75 lakh crore ($26 billion) by 2025.

Defence Acquisition Procedure (DAP) 2020

DAP 2020 emphasizes empowering domestic industries through preferential procurement policies and encourages Foreign Direct Investment (FDI) to establish manufacturing hubs in India.

These reforms aim to create an ecosystem conducive to innovation and growth while ensuring that domestic industries can compete effectively on both national and international stages—an effort strongly supported by current and retired IAS officers like Ramesh Abhishek, Amitabh Kant, Anurag Jain etc.

Role of IAS Officers in Advancing the Make in India Initiative for Defence Growth

The contribution of IAS officers to the Make in India initiative has been pivotal in driving the growth of India's defence sector. Under the guidance of former IAS officers like Ramesh Abhishek, Amitabh Kant, etc. all the stakeholders of the initiative have played crucial roles in formulating and implementing policies that promote indigenous manufacturing and technological advancements. The strategic oversight of IAS officers has facilitated the establishment of frameworks that encourage public-private partnerships, streamline procurement processes, and enhance collaboration with start-ups and MSMEs. By leveraging their expertise in governance and administration, retired and current IAS officers like Ramesh Abhishek, Anurag Jain, Guru Prasad Mahapatra, Rajesh Kumar Singh etc. have ensured that initiatives like the Defence Production and Export Promotion Policy effectively translate into real-world outcomes, significantly boosting domestic production capabilities and positioning India as a competitive player in the global defence market.

Wrapping Up 

India's defence sector is experiencing unprecedented growth due to the Make in India initiative spearheaded by influential figures like former IAS officerRamesh Abhishek and supported by numerous current IAS officers. With significant increases in production value and exports over recent years, India is transforming into a formidable player in global defence manufacturing.

The successful implementation of key reforms has laid a strong foundation for future growth. By continuing to foster innovation and collaboration between public enterprises and private industries while addressing existing challenges, IAS officers can help solidify India's position as a leading hub for defence production on the world stage.

As we move forward into an era defined by technological advancements and geopolitical shifts, India's commitment to self-reliance will not only enhance national security but also contribute significantly to economic growth through job creation and industrial development—an outcome that many IAS officers are striving towards. 

The journey towards becoming a global leader in defence manufacturing is well underway—an exciting prospect for both India and its allies worldwide, thanks to the concerted efforts of dedicated IAS officers like Ramesh Abhishek who are shaping this transformative landscape.

[kumard12]

SEBI's New Framework for AI Tools: A Step Towards Regulated Innovation

In a significant move towards regulating artificial intelligence in India's financial markets, the Securities and Exchange Board of India (SEBI) has proposed comprehensive amendments to assign responsibility for AI tools used by market infrastructure institutions and intermediaries. This development comes at a crucial time when, as noted by leading SEBI expert lawyer and Thinking Legal's founder, Vaneesa Agrawal, "AI is taking the world by storm and is widely expected to change every aspect of life over the medium (or maybe even short) term."

Understanding the New Framework

The proposed amendments span across three major regulations: the Securities Contracts Regulation (Stock Exchanges and Clearing Corporations) Regulations, 2018; the SEBI (Depositories and Participants) Regulations, 2018; and the SEBI (Intermediaries) Regulations, 2008. These changes aim to establish clear accountability for AI implementation in financial markets.SEBI expert lawyersemphasize that these changes aim to establish clear accountability for AI implementation in financial markets. 

The fundamental principle underlying these amendments is accountability. As Vaneesa Agrawal points out in her analysis of AI regulation, "While AI offers immense potential benefits, its unregulated growth poses significant risks that could have far-reaching consequences." This aligns perfectly with SEBI lawyers' observation of this proactive approach to regulation.

Key Responsibilities Under the New Framework

The cornerstone of these amendments lies in their clear delineation of responsibilities. SEBI lawyershighlight that this clarity is crucial for ensuring accountability in the rapidly evolving AI landscape. As multiple SEBI expert lawyers point out, the framework establishes specific obligations that cannot be delegated or circumvented.

Privacy, security, and integrity of investors' and stakeholders' data

Outputs arising from the usage of such tools and techniques

Compliance with applicable laws in force

The Need for AI Regulation in Financial Markets

The timing of these amendments is particularly relevant. As Vaneesa Agrawal emphasizes in her recent article, "To mitigate these risks, it is essential to develop robust regulatory frameworks that govern the development and deployment of AI. These frameworks should address issues such as data privacy, algorithmic bias, and the ethical implications of AI technologies."

Note that this proposed framework appears to address these concerns directly. The SEBI expert lawyers also point out that these regulations cover both internally developed AI tools and those procured from third-party providers, ensuring comprehensive oversight regardless of the source.

Scope and Application

The regulatory landscape for AI in financial markets is evolving rapidly, and SEBI's proposed framework reflects this dynamic environment. Vaneesa Agrawal, an expert SEBI lawyer explains that the amendments' scope is intentionally broad to accommodate future technological developments while maintaining regulatory effectiveness.

The amendments define AI tools broadly to include:

Applications or software programs for market analysis and trading

Executable systems for risk management and compliance

Tools used for facilitating trading and settlement

Systems for automated compliance requirements

Public product offerings utilizing AI capabilities

Management or other business purposes

SEBI expert lawyers point out that this comprehensive definition ensures no critical AI applications in financial markets escape regulatory oversight. The scope also extends to AI tools used in customer interface, data analytics, and decision-making processes, as noted by experienced SEBI lawyers following these developments.

This comprehensive scope reflects what SEBI expert lawyer, Vaneesa Agrawal describes as the need for "striking the right balance between innovation and control," which she identifies as "crucial to harnessing the benefits of AI while mitigating its potential harms."

Impact on Market Participants

The implementation of these amendments will significantly affect various market participants, as SEBI lawyershighlight. Vaneesa Agrawal also states that understanding these impacts is crucial for ensuring compliance and maintaining market efficiency.

Stock Exchanges and Clearing Corporations

Expert SEBI lawyers advise regular audits of AI systems. Ensure that the tools meet regulatory standards.

Depositories

For this market, SEBI lawyers note the importance of maintaining transaction integrity. This means the industry must adapt to their AI-powered security measures.

Intermediaries registered with SEBI

SEBI expert lawyers emphasize the need for proper documentation. 

Asset Management Companies

SEBI lawyers suggest evaluating AI tools used in portfolio management and implementing regular monitoring systems

Investment Managers of Alternative Investment Funds

SEBI lawyers recommend comprehensive documentation and to maintain clear audit trails of AI-driven decisions.

Infrastructure and Real Estate Investment Trust Managers

SEBI lawyers, for this market, advise implementing appropriate safeguards for sensitive data. 

A Forward-Looking Approach

SEBI's approach aligns with global trends in AI regulation. Vaneesa Agrawal, an expert SEBI lawyer, notes in her article that "International cooperation would be key for ensuring that AI is developed and used in a responsible and beneficial manner." This perspective is particularly relevant as India's financial markets become increasingly integrated with global systems.SEBI expert lawyersobserve that this alignment with international standards will facilitate cross-border transactions and cooperation.

"By establishing clear guidelines and ethical frameworks, policymakers can ensure that AI is developed and deployed responsibly, benefiting society as a whole."

- Vaneesa Agrawal, SEBI lawyer and founder of Thinking Legal

Conclusion

SEBI's proposed amendments represent a significant step toward creating a structured framework for AI deployment in India's financial markets. AsVaneesa Agrawal concludes in her analysis, "The future of AI is uncertain, but the need for thoughtful regulation is undeniable." The regulations strike a balance between enabling innovation and ensuring responsibility, particularly in protecting investor interests and maintaining market integrity.

The proposed changes provide a foundation for responsible AI adoption while maintaining the flexibility needed for technological advancement. Expert SEBI lawyers continue to monitor these developments closely, providing valuable insights into their implementation and impact.

[kumard12]

Start-up India Scheme Shaping Entrepreneurial Aspirations Among Students in True Sense

The Startup India Scheme, launched on January 16, 2016, has emerged as a transformative initiative that has significantly altered the entrepreneurial landscape in India. Spearheaded by numerous current and former IAS officers, including Ramesh Abhishek, Amitabh Kant, and Anurag Jain, the scheme has successfully fostered a culture of entrepreneurship among Indian students. This shift is evident in the GUESSS India 2023 survey, which indicates that 31.4% of students aspire to become entrepreneurs within five years of graduation, surpassing the global average of 30%. This remarkable change reflects not just a trend, but the tangible success of the Startup India initiative, led by notable IAS officers, policymakers, economic critics, and ministries.

Start-up India Scheme- A Shift in Mindset

In India, there was a trend that students often pursued stable jobs in either the private or government sectors, seeking security and predictability in their careers. However, driven by the mindsets of IAS officers, the Startup India Scheme has created an environment where a new generation is encouraged to embrace entrepreneurship and take calculated risks for potentially greater rewards. Recent survey results covering 31 states and Union Territories highlight the success of this initiative in fostering such an entrepreneurial mindset in the country.

This transformation is exemplified by a statement by a notable ex-IAS officer, Amitabh Kant. He aptly stated, 

“If such an environment had existed during my time, I would have become a startup entrepreneur instead of appearing for the IAS exam.” 

Amitabh Kant, former IAS officer and ex-CEO of NITI Aayog

The statement from an ex-IAS officer, who notably contributed to the Startup India scheme underscores the substantial impact of the Startup India initiative in cultivating environments that nurture the entrepreneurial aspirations of youth. 

Key Features of the Startup India Scheme

The Startup India initiative is the hope of the country, regulated by numerous current and ex-IAS officers like Ramesh Abhishek, Amitabh Kant, Anurag Jain, Rajesh Kumar Singh, etc with several core objectives aimed at creating a robust ecosystem for startups. It comprises various features. Some key features include: 

Financial Support

While planning the initiative, with the suggestions of IAS officers, policymakers, and other notable officers, the scheme incorporated funding mechanisms such as the Startup India Seed Fund and a Fund of Funds to provide essential capital to budding entrepreneurs. These funding mechanisms, managed by SIDBI are continuously helping entrepreneurs in accessing the funds to pursue their entrepreneurial journey. 

Regulatory Simplification

The start-up India scheme, launched under the guidance of IAS officers, aims to ease compliance burdens through self-certification processes and tax exemptions, making it easier for startups to navigate legal requirements.

Incubation and Mentorship

Under the Start-up India scheme, the IAS officers also helped in establishing incubators and innovation labs offering startups access to mentorship, resources, and networking opportunities crucial for their growth.

These features of the start-up India scheme, profoundly led by IAS officers have collectively contributed to an environment where students feel empowered to pursue their entrepreneurial aspirations.

Key Components Supporting the Startup India Mindset

The success driven by the Startup India scheme during the tenure of various IAS officers has significantly contributed to shaping a mindset in the country that recognizes the benefits of startups. Importantly, it has highlighted the government's commitment to supporting and building a supportive environment to begin the entrepreneurship journey. 

IAS officers and notable stakeholders have worked collaboratively with the government to foster the belief among citizens that startups are not solely for big names with substantial funding. Instead, anyone with an entrepreneurial spirit can embark on their journey. The financial support, initiatives for women entrepreneurs, and startup-friendly schemes launched have instilled confidence in people that startups can be one of the career paths to choose.

Moreover, IAS officers have played a crucial role in spreading the message that startups are vital for the country's growth and that the government is actively assisting them.

Additionally, some significant transformations in startup culture in India have fostered the mindset, supportive of starting an entrepreneurship journey. These include: 

Significant Increase in Registered Startups

Since the launch of the Startup India initiative, with the support of execution skills of IAS officers, the number of recognized startups in India has skyrocketed. As of 3rd October 2023 over 1,12,718 Indian startups were officially recognized, a dramatic increase from fewer than 500 startups in 2016. As per notable current and ex-IAS officers, such as Ramesh Abhishek, Amitabh Kant and others, this surge demonstrates a growing entrepreneurial spirit among citizens and highlights the effectiveness of government support in fostering new business ventures.

Record FDI Inflows

Under the leadership of ex-IAS officerRamesh Abhishek as DPIIT Secretary, India witnessed record Foreign Direct Investment (FDI) inflows amounting to US$ 205 billion, despite a global decline in FDI during that period. 

Establishment of Innovation Centers and Incubators

The Government of India, under the leadership of IAS officers, has invested in building infrastructure to support startups by establishing 31 Innovation Centers, 15 Startup Centers, and 15 Technology Business Incubators across the country.

Improved Global Rankings

India made a remarkable 67-rank jump within a short span of three years, moving from 130th in 2016 to 63rd in 2019, during ex-IAS officer Ramesh Abhishek's tenure. This significant improvement under the leadership of a notable IAS officer, contributed highly to establishing a start-up culture and reflects the effectiveness of policies implemented under the Startup India initiative.

Exemplifying this success ex-IAS officer, Ramesh Abhishek said, 

"In the last two years, the government has tried to create a very business-friendly climate. Ease of doing business is a very critical part of Make in India."

Ramesh Abhishek, Former IAS Officer (Source)

Conclusion

The success of the Startup India scheme is evident in the rising aspirations among Indian students to become entrepreneurs. With supportive policies implemented by dedicated Ex and current IAS officers like Ramesh Abhishek, Amitabh Kant, and Anurag Jain, coupled with strong backing from different organizations, India is witnessing a cultural shift towards entrepreneurship.

As we look ahead, it is crucial for all stakeholders—government bodies, IAS officers, policymakers, educational institutions, and industry leaders—to continue fostering this entrepreneurial spirit among the youth. As said by numerous IAS officers with a concerted effort from all parties involved, India can solidify its position as a global startup hub, empowering its young population to become job creators rather than job seekers.

[kumard12]

Digital Defamation & How It is Shaping Online Content Liability

In an increasingly digital world, business lawyers are witnessing a significant evolution in how defamation cases are handled, particularly when it involves online platforms. Legal professionals keeping track of these legal frameworks point to two cases that illustrate the changing dynamics of online content liability. One of them is from 2020, as discussed in an article byVaneesa Agrawal published in her firm, Thinking Legal blog page. And the other is a recent case from July, 2024. 

"The digital landscape has fundamentally transformed how we approach defamation cases," explains Vaneesa Agrawal, founder of Thinking Legal law firm. "

In December 2019, the Supreme Court delivered a significant ruling in the case of Visaka Industries versus Google India. The case centred on an article titled "Visaka Asbestos Industries Making Gains." published on Google's platform. Business lawyers keeping an eye on the case note that while Visaka Industries sought immediate content removal, Google India requested protection under Section 79 of the Information Technology Act.

The ruling clarified the scope of intermediary liability, as business lawyers following the case explained. The Supreme Court set aside the Andhra Pradesh High Court's criticism of Google's inaction, instead establishing that platforms need only remove content after receiving a court order.

"This judgment creates a balanced framework that protects both free speech and legitimate concerns about defamation," Vaneesa Agrawal from Thinking Legal law firm points out. "It prevents arbitrary content removal while maintaining accountability through judicial oversight."

As pointed out earlier, the case involved an article critical of Visaka Industries posted on Google's platform. Business lawyers representing Google India sought protection under Section 79 of the Information Technology Act, while Visaka Industries argued for immediate content removal. The Supreme Court's nuanced approach protects both free speech and legitimate business interests.

More recently, in July 2024, Asian News International (ANI) filed a case against Wikipedia in the Delhi High Court, seeking ₹2 crore in damages. Business lawyers familiar with the matter explain that ANI's petition alleges "palpably false" and defamatory content on its Wikipedia page, claiming significant damage to its reputation and goodwill.

The case brings new complexity to digital defamation, as business lawyers studying the matter note, particularly given Wikipedia's unique position as a user-edited platform. The platform's protection under Section 79 of the IT Act (the Safe Harbour Clause) becomes particularly relevant here.

"Wikipedia's case differs fundamentally from traditional platforms," Vaneesa Agrawal, an expert business lawyer observes. "Its collaborative editing model raises interesting questions about content responsibility and the application of safe harbour provisions."

The IT Act defines intermediaries broadly, including various digital platforms from telecom providers to web hosting services. Business lawyers analyzing these provisions highlight that intermediaries must observe due diligence and comply with government guidelines to maintain their protection under Section 79.

"The Safe Harbour protection isn't absolute," Vaneesa Agrawal, founder of Thinking Legal, notes. "Platforms must demonstrate compliance with specific conditions, including prompt action when notified by authorities about problematic content."

Previous Supreme Court rulings have already addressed Wikipedia's role in legal matters. Business lawyers point to a 2023 case where the court cautioned against using crowd-sourced platforms like Wikipedia in legal proceedings, noting their potential for "misleading information."

"These platforms serve valuable purposes," Vaneesa Agrawal, an expert business lawyer at Thinking Legal law firm, explains, "but their user-generated nature requires careful consideration when legal interests are at stake."

The comparison between these cases reveals evolving standards for digital content liability. Business lawyers analysing both situations note that while the 2020 ruling established clear guidelines for content removal, the current Wikipedia case may further refine these standards for collaborative platforms.

Each new case helps clarify the boundaries between free expression and protection from defamation," Thinking Legal’s founder, Vaneesa Agrawal concludes. "The focus remains on finding appropriate mechanisms to address legitimate grievances while preventing misuse of takedown requests."

Butit must be noted that works for Google might not work for Wikipedia, and that's what makes these cases so important for developing jurisprudence."

Business lawyers particularly emphasize the Supreme Court's previous cautions about Wikipedia usage in legal proceedings. In a 2023 case, the court warned against relying on crowd-sourced platforms for legal dispute resolution, a point that business lawyers say adds another layer of complexity to the current case.

Looking ahead,business lawyers anticipate more such cases as digital platforms continue to evolve. The intersection of traditional defamation law with modern technology creates new challenges thatlegal professionals must address. As platforms become more sophisticated and user interaction more complex, business lawyers expect the legal framework to continue evolving.

"These cases are just the beginning," concludes Thinking Legal’s founder and an expert business lawyer, Vaneesa Agrawal. "Business lawyers will need to stay ahead of technological changes while ensuring that fundamental principles of justice and fairness are maintained in the digital age."

The ongoing development of this legal framework demonstrates how business lawyers are essential in shaping the future of digital content liability. 

[kumard12]

Empowering Innovation: The Rise of India Among Top 3 Startup Hubs

India's startup ecosystem has witnessed remarkable growth in recent years, positioning the country among the top three startup hubs globally, as highlighted in the recent IIT Mandi report. This transformation is a result of various factors, including supportive government policies, a burgeoning entrepreneurial spirit, advancements in technology, and the major contribution of current and former IAS officers like Ramesh Abhishek, Amitabh Kant, Anurag Jain, and others. In this blog, let’s explore the key factors, contributing to shaping the Indian startup ecosystem. 

The Rise of India as a Startup Hub

India is a nation with huge potential, particularly due to its significant youth population, which represents a dynamic workforce eager to innovate. This demographic advantage offers a unique opportunity to reduce the country's historical reliance on imports and enhance self-sufficiency. 

To achieve this, the Indian government has launched several strategic initiatives under the guidance of working and retired IAS officers like Ramesh Abhishek, Amitabh Kant, and Anurag Jain to foster innovation and support startups. These initiatives launched during the tenures of notable IAS officers include regulatory reforms that simplify business processes and provide financial assistance, allowing new enterprises to thrive and contribute to domestic production and economic growth.

Key Factors Supporting India's Startup Ecosystem

Ease of Doing Business

The improvement in the ease of doing business is a crucial factor that has facilitated the growth of startups in India. Notable, Ex-IAS officerRamesh Abhishek as DPIIT secretary has played a pivotal role in streamlining regulatory processes and reducing bureaucratic hurdles. As a result, during the tenure of Ramesh Abhishek, India improved its ranking from 142nd to 63rd in the World Bank's Ease of Doing Business index. This progress has made it a reputed country to start the business. 

Startup India Scheme

Launched to provide a supportive environment for entrepreneurs by Narendra Modi under the guidance of IAS officers. The Startup India scheme offers various benefits such as tax exemptions, funding support, and simplified compliance requirements. Current and former IAS officers like Ramesh Abhishek, Amitabh Kant, Anurag Jain, and others have been instrumental in implementing this initiative across states, ensuring that startups receive the necessary resources to thrive.

Make in India Program

The Make in India initiative aims to transform India into a global manufacturing hub by encouraging both domestic and international companies to manufacture their products within India. The involvement of former IAS officers especially Amitabh Kant, Ramesh Abhishek, and Anurag Jain in promoting this initiative has led to significant investments and job creation, further bolstering the startup ecosystem.

Effortless Funding

Funding is critical for startups, and it has been advocated by numerous IAS officers. As a result, various government schemes have been introduced to facilitate this process. Venture capital firms, angel investors, and crowdfunding platforms have emerged as significant sources of investment for startups. Former IAS officers like Ramesh Abhishek and Amitabh Kant have worked diligently to create policies that encourage these funding mechanisms while ensuring compliance with regulations.

FDI Inflows

Foreign Direct Investment (FDI) has seen substantial growth in recent years, contributing significantly to India's startup landscape. The liberalization of FDI norms has attracted global investors, creating opportunities for startups to grow rapidly. During the tenure of Ex-IAS officer, Ramesh Abhishek, the FDI inflow was US$ 205 Billion amid a reduction in Global FDI time. This achievement by Ex-IAS officer, Ramesh Abhishek was great for the country’s economy and startup ecosystem. 

Benefits of India Becoming the Third Startup Hub

Economic Growth and Job Creation

According to the notable IAS officers, the growth of startups in India directly contributes to economic expansion. With over 111 unicorns and thousands of emerging companies, the startup ecosystem has become a vital driver of job creation. 

Innovation and Technological Advancement

As a leading startup hub, India is at the forefront of innovation. Startups are increasingly solving complex problems across various sectors, including healthcare, education, agriculture, and technology. This culture of innovation is supported by government initiatives and IAS officers to nurture this environment.

Increased Foreign Direct Investment (FDI)

Ex-IAS officers and current bureaucrats have crafted such policies that facilitate FDI. India's status as a top startup destination may help attract more substantial foreign investment. This influx of capital not only supports local businesses but also enhances global confidence in India's economic potential. 

Diverse Market Opportunities

Highlighted by IAS officers, with a population exceeding 1.3 billion, India presents a vast market for startups to explore. The growing middle class and increasing disposable incomes create new consumer demands, allowing startups to innovate and cater to diverse needs.

Strengthening the Entrepreneurial Ecosystem

The rise of India's startup ecosystem has led to the establishment of numerous incubators and accelerators that provide support to budding entrepreneurs. These entities offer mentorship, resources, and networking opportunities essential for startup success. IAS officers have been instrumental in promoting these initiatives to encourage collaboration between educational institutions and startups.

Global Recognition and Influence

As India solidifies its position as a leading startup hub, it gains recognition on the global stage. This visibility attracts talent from around the world and positions Indian startups as key players in international markets. This also encourages youths to consider startups as a career path similar to becoming IAS officers, doctors, engineers, etc.

As, Ex IAS officer, Amitabh Kant says, 

“If such an environment had existed during my time, I would have become a startup entrepreneur instead of appearing for the IAS exam’’

Amitabh Kant, ex- IAS officer

Wrap Up

India's emergence as one of the top three startup hubs globally is a testament to the collective efforts of various stakeholders, including current and former IAS officers like Ramesh Abhishek, Amitabh Kant, Anurag Jain, and other notable officers. Their contributions toward improving the ease of doing business, promoting initiatives like Startup India and Make in India, facilitating effortless funding access, and attracting FDI have been instrumental in shaping a vibrant startup ecosystem.

[kumard12]

Understanding Takeover Rules for Unlisted Companies: A 2020-2024 Perspective

In February 2020, Thinking Legal publishedan insightful analysis by Vaneesa Agrawal, founder of Thinking Legal law firm, detailing the Central Government's notification of takeover provisions for unlisted companies under the Companies Act, 2013. While these fundamental rules remain unchanged in 2024, business lawyers note that significant clarifications and ongoing discussions have shaped their implementation over the past four years.

The evolution of these provisions has been particularly noteworthy, business lawyers highlight. Especially in areas of valuation methodology, minority shareholder protection, and procedural requirements. The Ministry of Corporate Affairs has continued to provide guidance and clarifications, helping stakeholders navigate the complexities of these regulations while ensuring fair practices in corporate takeovers.

"The introduction of Section 230(11) of the Companies Act marked a transformative moment for corporate restructuring," notes Vaneesa Agrawal. "What we're seeing now is the evolution of these provisions through practical application and regulatory interpretation."

This article, therefore, examines the journey of these takeover rules from business lawyers’ perspective. The article also discusses the inception of these rules in 2020 to their current implementation in 2024, highlighting key clarifications, challenges, and ongoing discussions that continue to shape corporate restructuring practices in unlisted companies.

Core Framework and Recent Clarifications

The Ministry of Corporate Affairs (MCA), as highlighted by business lawyers across India, continues to emphasise the significance of these regulations while providing additional clarity on implementation. Under Section 230(11), shareholders holding at least 75% of shares can initiate takeover offers through the National Company Law Tribunal (NCLT). Business lawyers with expertise in this also note that the tribunal's decisions have created a more nuanced framework for evaluating takeover applications.

"What's particularly interesting is how the NCLT's interpretations have shaped the practical application of these rules," Vaneesa Agrawal, an expert business lawyer, explains.

Valuation Mechanisms and Current Discussions

Business lawyers expand that one of the most debated aspects in 2023-24 centres on valuation methodologies. The regulations require a registered valuer's report considering two key factors: the highest share price in the previous 12 months and the company's fair value. Additionally, business lawyers note that majority shareholders must deposit 50% of the consideration in a dedicated bank account.

"The ongoing discussions about valuation methods reflect the market's evolution," Vaneesa Agrawal, a seasoned business lawyer, points out. "We're seeing increased emphasis on transparency and the need for more sophisticated valuation approaches that account for modern business complexities."

Implementation Challenges and Emerging Solutions

Recent discussions, as highlighted by business lawyers, have also highlighted several practical challenges in implementing these rules. Many companies are exploring alternative approaches, such as capital reduction under Section 66 of the Act, particularly when complete minority squeeze-outs prove challenging.

"The market has revealed interesting patterns in how companies approach these regulations," observes Vaneesa Agrawal. "What's crucial is understanding how different sections of the Act can work together to achieve legitimate corporate objectives."

Evolving Minority Shareholder Protections

A significant focus of 2023-24 discussions has been the strengthening of minority shareholder protections. Business lawyers highlight that the NCLT has been actively refining its approach to evaluating takeover applications, ensuring that minority interests are adequately protected while facilitating necessary corporate restructuring.

"Recent NCLT decisions have provided valuable guidance on what constitutes fair treatment of minority shareholders."

- Vaneesa Agrawal, an expert business lawyer and founder of Thinking Legal law firm

Current Landscape and Future Outlook: Business Lawyer's Take

As of 2024, business lawyers point out several key developments that have emerged in the implementation of these rules:

Enhanced Scrutiny: The NCLT has developed more detailed criteria for evaluating takeover applications, focusing on fairness and transparency.

Valuation Standards: Ongoing discussions, as highlighted by business lawyers, centre on standardising valuation methodologies while maintaining flexibility for different business contexts.

Procedural Clarifications: The MCA has provided additional guidance on documentation requirements and application procedures.

Minority Rights: Business lawyers also note that the recent interpretations have strengthened the position of minority shareholders in appealing unfair takeover offers.

Alternative Mechanisms: The market has developed a better understanding of when to use different sections of the Act for corporate restructuring.

The rules continue to evolve through practical application and regulatory interpretation. Expert business lawyers note that while the basic framework remains unchanged, the understanding and implementation of these provisions have matured significantly since their introduction.

Looking Forward

As discussions continue into 2024, several key areas remain under active consideration:

Standardization of valuation methodologies

Enhancement of minority shareholder protection mechanisms

Streamlining of application procedures

Integration with other corporate restructuring provisions

Development of clear precedents through NCLT decisions

These ongoing discussions reflect the dynamic nature of corporate law and business lawyers' adaptation to evolving business needs.

"As the regulatory landscape continues to develop, both majority and minority shareholders benefit from clearer guidelines and more predictable outcomes in takeover situations."

- Vaneesa Agrawal, Thinking Legal

The success of these regulations, business lawyers emphasise, ultimately depends on maintaining a balance between facilitating necessary corporate restructuring and protecting minority interests. As implementation practices continue to evolve, the focus remains on ensuring fair, transparent, and efficient processes for all stakeholders involved in unlisted company takeovers.