April 13, 2026 - IndiaVerve

Government notifies Startup India Fund of Funds 2.0 with Rs 10,000 crore corpus

April 13, 2026 by India Verve Desk

New Delhi: The Central government has notified the Startup India Fund of Funds 2.0 (FoF 2.0) with a total corpus of Rs 10,000 crore to mobilise venture and growth capital for the country’s startup ecosystem.

The new fund builds on the performance of the earlier Fund of Funds for Startups launched in 2016 under the Startup India Action Plan to address funding gaps and promote domestic capital for startups.

Startup India FoF 2.0 will deploy Rs 10,000 crore through commitments to eligible Alternative Investment Funds across the 16th and 17th Finance Commission cycles.

The investments will target priority areas such as deep-tech startups, early growth-stage ventures supported by smaller funds, technology-driven manufacturing startups, and other innovation-led businesses, according to an official statement.

The scheme will follow a structured selection process for Alternative Investment Funds through a Venture Capital Investment Committee comprising experienced members from the startup ecosystem. It will include monitoring and oversight mechanisms, while an Empowered Committee will track implementation and performance. Provisions for co-investment by the Government and institutional investors have also been incorporated under a defined framework.

The Department for Promotion of Industry and Internal Trade will issue operational guidelines and details on the composition of the Venture Capital Investment Committee.

The government said the scheme is expected to strengthen innovation-led growth by supporting startups developing globally competitive technologies and products. It is also aimed at enhancing economic resilience, boosting manufacturing, and generating high-quality employment.

The Small Industries Development Bank of India will act as the implementation agency and begin operationalisation of the scheme from the date of notification. Another domestic agency will also be selected to support implementation.

The fund will contribute to SEBI-registered Alternative Investment Funds for investment in entities recognised as startups by the Central government.

The initiative aligns with the broader vision of Viksit Bharat 2047 and reflects the government’s continued focus on fostering entrepreneurship and innovation in the country.

CSIR-IMMT celebrates Foundation Day with focus on innovation, research

April 13, 2026 by India Verve Desk

Bhubaneswar: The Council of Scientific and Industrial Research – Institute of Minerals and Materials Technology (CSIR-IMMT) marked its Foundation Day on Monday with active participation from current and former staff, students, and guests from other laboratories.

The institute, originally established as the Regional Research Laboratory on April 13, 1964, has evolved into a leading centre for research in minerals, metals, and materials technology.

The main function took place at the institute auditorium. Director Ramanuj Narayan delivered the welcome address and outlined key achievements during the last financial year. He highlighted the creation of new facilities and pointed to emerging research areas, including decarbonisation and critical minerals, according to an official statement.

He appreciated the efforts of scientists and staff and urged them to take research outcomes beyond laboratories and academic publications. He said the scientific community should work towards translating knowledge into national progress in line with the vision of Viksit Bharat. He also referred to ongoing collaborations between National Aluminium Company Limited and CSIR-IMMT and thanked the chief guest for attending the event.

The Foundation Day lecture was delivered by Jagdish Arora, Director (Projects and Technical), NALCO. He highlighted challenges faced by the aluminium industry, including limited availability of indigenous smelter technology and the need for effective utilisation of industrial waste such as red mud and fly ash. He encouraged young researchers to adopt advanced tools, including automation and AI/ML, and to focus on converting laboratory research into practical industrial applications.

Trupti Das, Head of Human Resource Development, presented an overview of HRD initiatives carried out during the year. She noted that programmes such as JIGYASA, skill development initiatives, internships, and AcSIR PhD programmes have benefited participants from school level to professionals.

On the occasion, the Hindi magazine Abhibyakti was released. A technology developed by a team led by S K Singh and Debidutta Debasish on ultra-high temperature ceramic was transferred to a Bhubaneswar-based firm.

Winners of the MGK Menon Tournament and SSBMT Indoor Tournament 2025 were felicitated during the event.

India likely to receive below-normal monsoon rainfall in 2026: IMD

April 13, 2026 by India Verve Desk

New Delhi: India Meteorological Department (IMD) on Monday forecast below-normal southwest monsoon rainfall across the country for 2026, based on current climate indicators.

The projection was shared during a press conference addressed by M Ravichandran, Secretary, Ministry of Earth Sciences, and Mrutyunjay Mohapatra, Director General of Meteorology, IMD.

According to the IMD, the seasonal rainfall during the southwest monsoon period from June to September is expected to be 92% of the Long Period Average (LPA), with a model margin of error of ±5%. The LPA for the 1971-2020 period is 87 cm.

Spatial distribution indicates that below-normal rainfall is likely over many parts of the country. However, some regions in the northeast, northwest, and southern peninsular India are expected to receive normal to above-normal rainfall.

On large-scale climate drivers, the IMD said El Niño-Southern Oscillation conditions are likely to remain neutral between April and June. Thereafter, El Niño conditions are very likely to develop during the southwest monsoon season.

The Indian Ocean Dipole is currently in a neutral phase. It is expected to turn positive towards the later part of the monsoon season, which is considered favourable for rainfall.

The IMD also noted that Northern Hemisphere and Eurasian snow cover during January to March 2026 remained slightly below normal, a factor that supports monsoon rainfall.

Bhubaneswar marks 78th capital Foundation Day with grand celebrations

April 13, 2026 by India Verve Desk

Bhubaneswar: The 78th Capital Foundation Day of Bhubaneswar was celebrated with grandeur and wide public participation across the city on Monday.

Speaker of the Legislative Assembly, Surama Padhy, attended the main event as the chief guest and inaugurated the celebrations at Sachivalaya Marg in the presence of several dignitaries.

The day began with floral tributes to eminent personalities and the Capital Foundation Day plaque near the Assembly House. The speaker, along with public representatives and members of the celebration committee, paid homage at the site.

A ceremonial parade and torch relay formed key highlights of the morning events. The procession commenced from Lingaraj Temple and passed through key city points before reaching PMG Square. Participants included citizens, officials, and various organisations, BMC Mayor Sulochana Das said in a series of posts on X.

The chief guest received the ceremonial salute during the joint parade. Students from schools and colleges staged coordinated performances, while daredevil demonstrations added to the spectacle. The Odisha Skating Association also presented a special display.

A photo exhibition was also inaugurated by Padhy at Jayadev Bhawan. The event was organised by the Department of Information and Public Relations. The exhibition traced the city’s transformation and development over the years.

Mayor Das extended greetings to residents, describing the city as a source of pride. She urged citizens to work collectively towards making Bhubaneswar cleaner, greener, and more beautiful.

“On the occasion of the 78th Odisha Capital Foundation Day, my heartfelt greetings and best wishes to all residents of Bhubaneswar. The Temple City is the pride and glory of all of us. Let us all resolve to collectively build and elevate Bhubaneswar into an even cleaner, greener, and more beautiful city,” she said.

Evening events are scheduled at Utkal Mandap, where the governor will attend the general meeting and present Capital Glory Awards. Meritorious participants from various competitions will also be felicitated, followed by cultural programmes organised by the Culture Department.

Middle East conflict may drive millions into poverty: UNDP

April 13, 2026 by India Verve Desk

New Delhi: A new analysis by the United Nations Development Programme (UNDP) has warned that the ongoing conflict in the Middle East could push tens of millions of people into poverty across 162 countries.

The policy brief highlighted that the economic fallout is no longer limited to countries directly affected by the conflict, according to UNDP. It said nations dependent on energy imports face immediate pressure, while poorer economies far from the region risk longer-term setbacks.

Titled “Military escalation in the Middle East: Reversals in global development, policy response options”, the report used Global Trade Analysis Project modelling to assess the impact under multiple scenarios, including disruptions lasting up to eight months.

The analysis noted that the crisis has entered its sixth week and is shifting into a more prolonged phase, even as a temporary ceasefire remains in place. It warned that a longer disruption could increase poverty levels in vulnerable regions.

Under the worst-case scenario, the report estimated that as many as 32 million additional people could fall into poverty.

The brief identified countries in the Gulf region, parts of Asia, Sub-Saharan Africa, and Small Island Developing States as particularly exposed to the economic shock.

UNDP Administrator and UN Under-Secretary-General Alexander De Croo said conflict reverses development gains and places a heavy burden on countries with limited fiscal capacity. He noted that rising energy and food prices force governments to choose between stabilising costs in the short term and investing in long-term priorities such as health, education, and employment. He added that timely policy intervention can help reduce the impact.

The UNDP recommended targeted and temporary cash transfers as a primary measure to protect vulnerable households. It said up to USD 6 billion may be required under certain scenarios to support this approach.

The report also suggested temporary, targeted subsidies or vouchers for essential energy use, including electricity and cooking gas. However, it cautioned against broad-based energy subsidies, stating that they tend to benefit wealthier households and are not sustainable over time.

GE Aerospace to set up F404 engine depot for IAF Tejas fleet in India

April 13, 2026 by India Verve Desk

NEW DELHI: GE Aerospace on Monday announced a contract with the Indian Air Force (IAF) to establish an in-country depot facility for F404-IN20 engines powering the Tejas fleet.

The facility will be set up in India by the IAF with technical support from GE Aerospace. It aims to strengthen indigenous defence sustainment and reduce dependence on overseas repair centres. Officials said the move will significantly improve turnaround time for engine maintenance.

The depot will be owned, operated, and maintained by the IAF. In a press release, GE Aerospace will provide technical inputs, training, support staff, and a supply of spares and specialised equipment.

The development marks another step in the decades-long partnership between GE Aerospace and the IAF.

Rita Flaherty, Vice President for Sales and Business Development, Defence and Systems at GE Aerospace, said the company remains committed to supporting India’s armed forces and expanding local sustainment capabilities for the Tejas fleet. She added that the upcoming facility will enhance the availability of F404-IN20 engines and ensure access to advanced technology for operational needs.

GE Aerospace also highlighted its broader commitment to India’s aerospace ecosystem, covering design, development, manufacturing, and sustainment across civil and military aviation.

The company said its engineering training initiatives have produced skilled talent through programmes such as the Edison Engineering Development Program. It added that manufacturing-focused skilling efforts at its Pune facility have trained over 5,000 individuals over the past decade.

In September 2025, the GE Aerospace Foundation, in partnership with United Way, launched the Next Engineers programme in Bengaluru to support thousands of engineering aspirants through a four-year college and career readiness initiative.

Apart from the Tejas programme, GE Aerospace engines power several Indian military platforms, including the Navy’s P-8I maritime patrol aircraft and MH-60R helicopters, as well as the Air Force’s AH-64 Apache helicopters. Its LM2500 marine gas turbines are also used in key naval assets such as the INS Vikrant aircraft carrier and the P-17 Shivalik-class frigates.

India rejects China’s ‘fictitious’ renaming of Arunachal Pradesh places

April 13, 2026 by India Verve Desk

NEW DELHI: India has firmly rejected China’s latest attempt to rename places in Arunachal Pradesh, calling the move “mischievous” and asserting that such actions cannot alter the country’s territorial reality.

The Ministry of External Affairs (MEA) said India categorically rejects any attempt by the Chinese side to assign fictitious names to locations that are an integral part of India.

In a statement, MEA spokesperson Randhir Jaiswal said such actions undermine ongoing efforts to stabilise and normalise India–China relations. It added that China should avoid steps that create unnecessary negativity in bilateral ties.

The response came after Beijing released a new list naming 23 places in Arunachal Pradesh, which it refers to as “Zangnan.” This marks the sixth such naming exercise in the past 10 years.

MEA spokesperson Randhir Jaiswal said these attempts to introduce false claims and fabricated narratives do not change the reality that Arunachal Pradesh is, was, and will remain an integral and inalienable part of India.

India also reiterated that such actions do not affect ground realities or sovereignty.

“These actions by the Chinese side detract from ongoing efforts to stabilize and normalize India-China bilateral ties. China should refrain from actions which inject negativity into relations and undermine efforts to create better understanding,” Jaiswal added.

The statement followed reports from Beijing about the creation of a new county in China’s Xinjiang region, named Cenling, near the Karakoram range and close to the borders of Pakistan-occupied Kashmir and Afghanistan.

Women empowerment essential for inclusive growth: Odisha governor

April 13, 2026 by India Verve Desk

Bhubaneswar: Odisha Governor Dr. Hari Babu Kambhampati on Sunday said women empowerment is a national necessity and a key driver of inclusive development.

Addressing the ‘Nari Shakti – Odia Asmita’ programme organised by The Times of India in Bhubaneswar, the governor said societies that respect women and support their progress move forward with strength and dignity.

Kambhampati said the event was timely and meaningful as it highlighted women’s contribution to Odisha’s cultural, social, and economic identity.

He said women form the foundation of families, act as the first teachers of values, and serve as silent architects of a compassionate and progressive society.

The governor noted that women in modern India are excelling across multiple sectors, including governance, education, health, science and technology, entrepreneurship, sports, arts, and the armed forces. He said they are confident, capable, and increasingly leading from the front.

He said this transformation has been enabled by progressive policies at both the state and central levels, along with strong leadership.

Highlighting inclusive development, he said it is possible only when women actively participate in economic, social, and decision-making processes. He also said Prime Minister Narendra Modi has consistently prioritised women empowerment in governance.

Referring to the Nari Shakti Vandan Adhiniyam, the governor called it a historic reform that will strengthen democracy by expanding women’s representation in decision-making bodies.

He added that Odia Asmita is deeply rooted in the state’s heritage, and women play a key role in preserving and promoting it. He said women-led development will be crucial for building a developed Odisha.

The governor appreciated The Times of India for organising the programme and said such initiatives inspire positive social change.

He also congratulated women achievers honoured at the event and called for collective efforts to ensure equal opportunities for women across all sectors.

Heartbreak for Ayush Shetty as he loses final at Badminton Asia Championships 2026

April 13, 2026 by India Verve Desk

New Delhi: India’s Ayush Shetty finished with a silver medal after losing the men’s singles final at the Badminton Asia Championships 2026 on Sunday.

The 20-year-old went down in straight games to world No. 2 Shi Yu Qi from China, losing 8-21, 10-21 in the summit clash. The defeat extended India’s long wait for a men’s singles gold at the continental event.

Ayush struggled to find rhythm against the reigning world champion, who maintained control throughout with precise shot-making and tactical discipline, according to reports.

Despite the loss, the unseeded Indian produced an impressive campaign. He became only the second Indian men’s singles player, after Dinesh Khanna, to reach the final of the tournament.

Khanna remains the only Indian singles champion in the event’s history, having won the title in 1965. Since then, India’s only gold came in men’s doubles, when Satwiksairaj Rankireddy and Chirag Shetty clinched the title in 2023.

Ranked world No. 25, Ayush entered the final after a strong run through the draw. He had earlier defeated top players, including world No. 1 Kunlavut Vitidsarn, world No. 4 Jonatan Christie, and world No. 7 Li Shi Feng.

However, in the final, Ayush could not counter Shi’s variation and control. The Chinese shuttler used a mix of deception and attacking strokes to prevent the Indian from settling into his natural attacking game.

Ayush, who trains at the Padukone-Dravid Centre for Sports Excellence, concluded the tournament with a breakthrough silver, marking one of the most notable performances of his young career.

Meanwhile, Union Youth Affairs and Sports Minister Dr Mansukh Mandaviya congratulated Shetty on winning the silver medal.

In a post on X, he said: “A spectacular debut that has made the entire nation proud!”