Dr. S Chandrasekhar, Secretary Department of Science & Technology, Govt. of India, stressed on focusing on gaining from lead expertise of different countries for taking forward collaborative initiatives. “Focus needs to be drawn on working with leading countries in their areas of expertise and connecting Indian industries and startups with the best minds in the world to produce technologies of global benchmark,” he said at the celebration of the 10th Foundation Day of GITA.
Congratulating Global Innovation and Technology Alliance (GITA) for completing 10 years of nurturing innovation and industrial R&D by fostering bilateral academic industry and government collaborations, Dr. Chandrasekhar emphasized the need for robust engagement with stakeholders to take these collaborative activities to more countries.
Dr. Chandrasekhar highlighted the need to take the success stories to the masses and proper propagation of the technologies throughout the length and breadth of the country for societal benefits. He underlined the necessity to enhance the visibility of the programme for greater participation by people in the projects.
Appreciating one of the projects which had developed mechanism by which the refrigeration water cooling systems would consume 25% of less electricity and power sources, Secretary said that initiatives should be taken to propagate these kinds of processes. He added that even if 10% power is saved on every refrigerator, especially in the laboratories and vaccine industry, storage requires temperatures up to -20 degrees, it will directly help reach carbon neutrality and minimize global warming.
The GITA Global Technology Development Awards 2021 which were presented to a total of 7 companies on the occasion of celebration of the 10th Foundation Day of GITA, a PPP between Technology Development Board (TDB) of the Department of Science & Technology (DST) and Confederation of Indian Industry (CII). Three companies in the small, 2 in medium, and 2 in large categories received the awards. The day was celebrated on 17th February 2022 on online mode based on the theme– Collaborate & Create for a Sustainable Future. A total of 9 projects funded by DST, Ministry of Electronics and Information Technology, and Department of Heavy Industries that got successfully completed last year were showcased at the event.
Mr. Deep Kapuria, Chairman, GITA Board, said that GITA has created a vision fostering the Indian innovation ecosystem and helped in forging a seamless connection between the Government of India, Indian Industry, and R&D Institutions for sharing of investment risks in industrial R&D and technology.
Mr. Chandrajit Banerjee, Director General Confederation of Indian Industry (CII), highlighted the need for significantly scaling up R&D investment as well as bold investment in frontier areas, creating world-class research institutions and enabling infrastructure.
Mr. Sanjeev K Varshney, Head – International Cooperation, DST, stressed on the joint role of private sector and government to take the fruits of science to the masses and suggested that efforts be made to develop confidence in science among all stakeholders.
DST announced recommendations for selection of 6 joint projects from the applications received at the ‘DST-Vinnova call on smart and sustainable cities and transport systems, clean technologies, IoT and digitization’, which was launched on 5th March 2021. It also declared that India and Sweden will soon launch a new call on circular economy.
Two projects to be funded jointly under India-Sweden Collaborative Industrial R&D Programme on Smart Grids were declared selected from joint Research & Innovation Call by the Sweden Energy Agency and DST, GoI.
The daylong event was a multi-stakeholder platform to exchange ideas along with a special ‘Fireside Chat with Dr. VK Saraswat, Member, NITA Aayog, Chancellor, Jawaharlal Nehru University, and former Director-General, DRDO. There were 6 Country Sessions with Israel, Republic of Korea, United Kingdom, Sweden, Italy, and Canada and Panel Discussion on Global Perspectives ‘Collaborate and Create for a Sustainable Future’ in which Taiwan, Israel, Canada, Sweden, and United Kingdom participated.
E Fund Management (HK) Co., Ltd. is pleased to announce today (Tuesday) the launch of E Fund (HK) MSCI China A50 Connect ETF (“EFUND MSCI A50”) on the HKEX. The stock code is 3111. The product is launched by E Fund HK. The fund tracks the MSCI China A50 Connect Index, which selects 50 stocks from the component stocks in the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, focusing on China’s core assets.
IMPORTANT INFORMATION:
1.E Fund (HK) MSCI China A50 Connect ETF (the “Fund”) is a passively managed exchange traded fund (“ETF”) and is traded on the Stock Exchange of Hong Kong (“SEHK”) like stocks. The investment objective is to provide investment result that, before fees and expenses, closely corresponds to the performance of the MSCI China A 50 Connect Index (the “Index”). The Manager will adopt a combination of a physical representative sampling strategy and a synthetic representative sampling strategy. For direct investments in Index Securities listed on the Shanghai and Shenzhen stock exchanges, the Fund will invest primarily through the Stock Connect and/or the Manager’s QFI status. By adopting a synthetic representative sampling sub-strategy (which involves investing up to 50% of its NAV in FDIs), the Fund will only invest directly in funded total return swap transaction(s)
2.The Fund is subject to a) Investment risk, b) Equity market risk, c) New Index risk, d) Concentration risk and Mainland China market risks, e) Risks associated with the Stock Connect and QFI regime , f) Risks associated with investments in FDIs, g) Trading differences risk, h) Passive investments risk,, i) Trading risk, j) Tracking error risk, k) Dual counter risks, l) PRC tax risk, m) Reliance on market maker risk, n) Other currency distribution risk, o) Termination risk..
3.Based on professional and independent tax advice, (i) the Fund will make relevant provision of 10% on dividend and distribution income from A-Shares if PRC corporate income tax (“CIT”) is not withheld at source at the time when such income is received (where CIT is already withheld at source, no provision will be made) and (ii) the Manager does not currently make withholding income tax provision for gross realised or unrealised capital gains derived from trading of A-Shares (either via Stock Connect or QFI).
4.There are risks and uncertainties associated with the current PRC tax laws, regulations and practice in respect of capital gains realised via QFI or Stock Connect on investments in the PRC (may have retrospective effect). Any increased tax liabilities on the Fund may adversely affect the Fund’s value. If taxes are levied in future on the Fund for which no provision is made, the Fund’s NAV will be adversely affected. In this case, the then existing and subsequent investors will be disadvantaged as they will bear for a disproportionately higher amount of tax liabilities as compared to the liability at the time of investment in the Fund.
5.You should not make any investment decision solely based on the information on this material alone. Please read the relevant offering documents for details including the risk factors before making any investment decisions. Investment involves risk. Past performance is not indicative of future performance. This document has not been reviewed by the Securities and Futures Commission of Hong Kong.
The MSCI China A50 Connect Index has three major characteristics: Firstly, the historical performance of the index is better than other main broad-based indexes. From the perspective of historical cumulative return rate, the price index return rate and the total return performance of investments with the dividends reinvested have all outperformed the CSI 300, FTSE Russell A50 and MSCI China A-Share Index (the parent index) in the past 10 years. Secondly, the industry distribution is balanced with a high proportion of new economy. Compared with other main broad-based indexes, the MSCI China A50 Connect Index has significantly increased the proportion of new energy, electronics, medicine and other sectors. Thirdly, the component stocks comprise leader companies in various industries, with excellent profitability and growth, which are regarded as China’s core assets, which are highly recognized by foreign institutional investors. It is an effective investing tool for investors to focus on the A Shares leaders and capture the China opportunities.
MSCI Company highly regards the importance of Chinese assets. In May 2018, MSCI officially announced the inclusion of China A Shares in its flagship index system. Through step-by-step implementation, MSCI increased the inclusion ratio of China A shares from 5% to 20% in the MSCI Emerging Markets Index in 2019. The market expects the proportion of MSCI’s inclusion of China A Shares may increase to 50% in 2027, which is equivalent to an average of 200-400 billion RMB flowing into China A Shares from overseas assets each year.
HKEX Co-Head of Markets Wilfred Yiu said: “We warmly welcome the listing of E Fund (HK) MSCI China A50 Connect ETF that tracks the MSCI China A 50 Connect Index. It will join the increasingly diversified Connect product ecosystem in Hong Kong, enriching the choice for investors around the world, and providing another investment option for those seeking exposure to China assets. HKEX looks forward to working with its clients and the market on continuing to build Hong Kong’s attractiveness as an offshore RMB hub and international trading, risk management and capital raising centre.”
Doug Walls, APAC Head of Index Products at MSCI, said, “The MSCI China A 50 Connect Index follows an innovative sector-balanced approach that aims to ensure diversified and balanced representation of the broader China A market. It is designed to enable international and domestic investors to track China’s sector leaders and get exposure to the overall market, including the potential opportunities in China’s new economy. The index marks another milestone since the inclusion of A-shares in MSCI indexes. At the same time, index-linked ETFs and other financial products will provide global investors with more opportunities to access the broad and diversified China market.”
Gaohui Huang, CEO of E Fund Management (HK), said, “With the increase of China’s economic influence in the world and the further opening up of the financial markets, China A-share assets will play an even more important role in global investors’ portfolios. We believe that E Fund (HK) MSCI China A 50 Connect ETF will become an essential tool for domestic and foreign investors to allocate A-share assets. “
Fund Information E Fund (HK) MSCI China A50 Connect ETF Stock Code: 03111.HK (HKD counter) 83111.HK (RMB counter) Exchange Listing: HKEX – Main Board Listing Date: 14th-December-2021 Underlying Index: MSCI China A 50 Connect Index (Price return) Trading Currency: RMB Counter Currency: RMB/HKD Investment Channel: Mainland China-Hong Kong Stock Connect, RQFII (Mainly by Mainland China-Hong Kong Stock Connect) Investment Strategy: A combination of (i) primarily a physical representative sampling strategy and (ii) a synthetic representative sampling strategy as an ancillary strategy. Portfolio Composition File Basket Share: 1,000,000 Fund Initial Net Value: 2.6 RMB (subject to the final price before listing) Management Fee Rate: 50 bp (p.a.) Expected Total Expense Ratio (TER): 80 bp (p.a.) Derivative Use: Yes, derivative does not exceed 50%
About E Fund Management (HK) Co., Ltd.
As the international business platform of E Fund, E Fund HK provides bilateral and cross-border asset management services in fixed income, equity (include active management strategy and ETF product lines) and global asset allocation for investors all over the world. E Fund HK has an established presence in Hong Kong for many years and has since listed a number of mutual funds, private equity funds and ETFs in Hong Kong, Europe and the US. Its award-winning products have been recognized by leading institutions such as Morningstar, Lipper, Asian Investor and Benchmark for their strong performances relative to peers..
E Fund HK has nearly 10 years of index investment experience. The company has abundant practical experiences in the offshore ETF market. E Fund HK cooperate with many international institutions, and issued products in Hong Kong, Europe and the US. In 2012, E Fund HK issued a product tracking the CSI 100 Index. In 2014, E Fund HK issued a product tracking Chinese government bonds, and issued a UCITS product about China A shares with a European company. In 2014, E Fund HK and a US fund company jointly issued an ETF in United States. In 2017, E Fund HK and Yuanta Securities jointly issued a leveraged ETF and an inverse ETF tracking the Hang Seng Index.
The MSCI series of indexes developed by MSCI are widely used by global portfolio managers as benchmark indexes, with an asset scale of more than US$16 trillion, including more than 1,200 index ETFs with an asset scale of more than US$1.2 trillion.
MSCI Index Disclaimer The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The Prospectus issued by E Fund Management (Hong Kong) Co., Limited (“E Fund HK”) contains a more detailed description of the limited relationship MSCI has with E Fund HK and any related funds. Copyright 2021. E Fund Management (Hong Kong) Co., Limited. All rights reserved.
The Fund has been authorized by the Securities and Futures Commission of Hong Kong (“SFC”) but such authorization is not a recommendation or endorsement of a scheme nor does it guarantee the commercial merits of a scheme or its performance. It does not mean the scheme is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors. Investment involves risk. Past performance is not indicative of future performance. The investment returns are denominated in RMB. HK dollar-based investors are therefore exposed to fluctuations in the HK dollar/RMB exchange rate and investing in funds denominated in non-local currency should be aware of the risk of exchange rate fluctuations that may cause a loss of principal. Please refer to the offering document for details of the Fund including the risk factors. This document has not been reviewed by the SFC. Issued by E Fund Management (Hong Kong) Co., Limited.
This document is neither an offer nor solicitation to purchase units of the Fund. Distribution of this document may be restricted in certain jurisdictions. This document does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute such a document or make such an offer or solicitation.
Union Minister for Labour and Employment Shri Bhupendra Yadav said that the focus of training workers should be based on 2Qs i.e Quality and Quantity of Training Programmes.
In his message to a function organized to observe the Workers Education Day Shri Bhupendra Yadav said there must be a Calendar of training programmes across the country, indicating places,processes, target group, topics and time.
The Workers Education Day event was organized by the DattopantThengadi National Board for Workers Education and Development, an autonomous body under the Ministry of Labour and Employment.
The Minister asked the board to develop a charter to analyse all the trainings being conducted by it.
Shri Bhupendra Yadav said that under the leadership of the Prime Minister Shri Narendra Modi, the Government has taken historical steps towards labour reforms in the interest of the workers. Referring to the 4 Labour Codes recently launched by the Government, he said they provide for legal right of Minimum Wages to the entire 50 Crore labour in the country.
He said similarly, several measures were taken under the Occupational Safety and Health Code to provide for a safe and secure work environment to the labour and that the Social Security Code provides for a Universal Social Security Coverage. Shri Yadav said the Industrial Relations Code provides a transparent Dispute Resolution Mechanism.
He said the labour laws create an environment of mutual co-operation and harmony between the employers and employees. He expressed the hope that Labour reforms will establish a positive and trust based work culture in the country.
The Union Minister for Labour and Employment called for increasing awareness on the National Career Service Portal of the Ministry as it is a major repertoire of information related to employment and training.
He also asked the Board to include the details about registering on the e-Shram portal launched by the Ministry of Labour and Employment. The portal aims to create a database of over 38 Crore unorgainsed workers in the country for the first time.
There are two types of rivers in the country viz: perennial and non-perennial rivers. Perennial are those rivers in which water remains available throughout the year and non-perennial are rain-fed rivers, in which water flows only during the monsoon. Rivers in the country are polluted mainly due to discharge of untreated and partially treated sewage from cities/towns and industrial effluents in their respective catchments, problems in operation and maintenance of sewage/effluent treatment plants, lack of dilution and other non point sources of pollution. Rapid urbanization and industrialization have compounded the problem.
Cleaning/rejuvenation of rivers is an ongoing activity. It is the responsibility of the States/UTs and local bodies to ensure required treatment of sewage and industrial effluents to the prescribed norms before discharging into river and other water bodies, coastal waters or land to prevent and control of pollution therein. For conservation of rivers, this Ministry has been supplementing efforts of the States/UTs by providing financial and technical assistance for abatement of pollution in identified stretches of rivers in the country through the Central Sector Scheme of Namami Gange for rivers in Ganga basin, and Centrally Sponsored Scheme of National River Conservation Plan (NRCP) for other rivers. Further, priority for effective rejuvenation of small rivers has been accorded under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).
Proposals for pollution abatement works in the towns along polluted river stretches are received from the States/UTs from time to time for consideration under NRCP and sanctioned based on their prioritization, conformity with NRCP guidelines, availability of plan funds, etc.
NRCP has so far covered polluted stretches on 34 rivers in 77 towns spread over 16 States in the country with the project sanctioned cost of Rs.5965.90 crore, and inter-alia, a sewage treatment capacity of 2522.03 MLD has been created. Under Namami Gange programme, a total of 346 projects including 158 projects for sewage treatment of 4948 MLD and sewer network of 5213 km, have been sanctioned at a cost of Rs.30235 crore.
In addition, sewerage infrastructure is created under programs like Atal Mission for Rejuvenation & Urban Transformation (AMRUT) and Smart Cities Mission of Ministry of Housing & Urban Affairs.
As per the Provisions of Environment (Protection) Act, 1986 and Water (Prevention & Control of Pollution), Act 1974, industrial units are required to install effluent treatment plants (ETPs) and treat their effluents to comply with stipulated environmental standards before discharging into river and water bodies. Accordingly, Central Pollution Control Board (CPCB), State Pollution Control Boards (SPCBs) and Pollution Control Committees (PCCs) monitor industries with respect to effluent discharge standards and take action for non-compliance under provisions of these Acts.
Besides, in compliance of the orders of National Green Tribunal (NGT) in Original Application No.673/2018 regarding rejuvenation of polluted river stretches in the country, States/UTs are required to implement approved action plans for restoration of the polluted stretches in their jurisdiction as identified by CPCB and published in their report of 2018, within the stipulated timelines. As per the orders of NGT, regular review on implementation of action plans is undertaken in the States/UTs and also at Central level.
This information was given by the Minister of State for Jal Shakti & Food Processing Industries, Shri Prahlad Singh Patel in a written reply in the Lok Sabha today.
