‍The Best Guide To Beginners For The World Of Cryptocurrency

The Cryptocurrency is a form of digital asset based on a network that is distributed across a large number of computers.

In the era of digitalisation, the form of money has also changed rapidly. From barter systems to old age coins, paper notes, now we have jumped towards digital currencies. Cryptocurrencies have emerged as the new method of exchange to purchase various products and services globally. Also, some are buying houses and cars and visualising their future in it. It has made very rapid popularity in the few years. Lets understand Cryptocurrencies in detail.

What are Cryptocurrencies?
Cryptocurrencies are digital currencies or digital money, which do not exist in physical forms like coins and cash. But it exists in the virtual form and holds significant value. It can be stored in a ‘digital wallet’ on a smartphone or computer, and owners can send them to people to buy things.

Blockchain is the technology that enables cryptocurrency to function. Blockchain is a decentralised system that organises and records transactions across multiple computers. The security of this technology is part of its attraction.

In addition, unlike regular money, which is created around centralised distribution, cryptocurrency is maintained using something called a distributed ledger. This makes a great degree of transparency but further anonymity through the use of encryption. They are able to exist outside of the control of governments and central authorities because of their decentralised nature. Bitcoin is considered the first cryptocurrency which was developed by a Japanese programmer Satoshi Nakamoto in the year 2009.

How Do Cryptocurrencies Work?
When a transaction takes place through cryptocurrencies, then no third parties like banks or others involves. This exchange of digital currencies is known as ‘peer-to-peer transactions. Importantly, every transaction ever made is recorded on an immense database known as a blockchain - think about it as a large spreadsheet. Individual transactions made are represented by a block that is added to the larger chain, hence the name blockchain, and all the transactions remain in the blockchain forever.

Blockchain is not based in a central location but is scattered among a large network of computers which is kept protected at all times through complex systems. This makes it virtually impossible for anyone to tamper with a blockchain and guarantees all transactions and users are shielded.

Cryptocurrencies have the potential to make it simpler to move payments between two parties without the use of a trusted third party such as a bank or credit card firm. Instead, these transactions are protected by the use of public and private keys and other incentive systems like Proof of Work and Proof of Stake.

In current cryptocurrency systems, a user’s “wallet” or account address has a public key, while the private key is only known by the owner and is used to sign transactions. As a result, users can avoid the high costs banks and financial institutions charge for wire transfers by completing fund transactions with minimum processing expenses.

How Do You Get Hold of Cryptocurrencies?
The process of holding cryptocurrencies like Bitcoin through a process is termed mining. Also, they can buy and sell too. Individuals or groups can set up computers with high powers, and these are tasked with working out incredibly tough equations. Moreover, machines can add transactions to the blockchain, and further check their validity, ensuring they’re all accurate. 

To purchase cryptocurrencies, you’ll need a “wallet,” an internet software that stores your funds. In general, you open an account at a cryptocurrency exchange and then use real money to purchase cryptocurrencies like Bitcoin or Ethereum.

However, the sums are becoming more and more complex as more Bitcoins enter circulation - a fancy way of saying there are more coins up for grabs - to make sure there are not too many being generated. To put it in context, if you were to begin mining now, it could be years before you got a single Bitcoin.

Coinbase is a well-known cryptocurrency exchange where you can open a wallet and buy and sell Bitcoin and other cryptocurrencies. Cryptocurrencies are also available via an increasing number of online brokers, including eToro, Tradestation, and Sofi Active Investing.

Popular Cryptocurrencies
Bitcoin was the first blockchain-based cryptocurrency, and it is still the most popular and lucrative. However, thousands of alternative cryptocurrencies exist today, each with its own set of features and requirements. Some are Bitcoin clones or forks, while others are brand-new currencies created from the ground up.

Litecoin, Peercoin, Namecoin, and Ethereum, Cardano, and EOS are some of the rival cryptocurrencies generated by Bitcoin’s success. The entire value of all cryptocurrencies has surpassed 1.8 trillion dollars, with Bitcoin accounting for around 46.5 per cent of that total.

Criticisms in Recent Years
Since cryptocurrency market values are determined by supply and demand, the rate at which a cryptocurrency may be traded for another currency might vary greatly. This is especially true because many cryptocurrencies are designed to be scarce.

There is a worry that any tangible assets do not back cryptocurrencies such as Bitcoin. According to certain studies, the cost of creating a Bitcoin, which consumes a growing quantity of energy, is directly proportional to its market price.

Although bitcoin blockchains are extremely secure, other elements of the cryptocurrency ecosystem, including as exchanges and wallets, are vulnerable to hacking. Several online exchanges have been hacked and stolen over Bitcoin’s ten-year lifespan, with millions of dollars in “coins” taken in certain cases.

Despite this, many analysts regard cryptocurrencies as having potential benefits, such as the ability to preserve value against inflation and facilitate exchange while being simpler to carry and split than precious metals and existing beyond the authority of central banks and governments.

Cryptocurrencies have been chastised for various reasons, including their usage for criminal operations, exchange rate volatility, and the infrastructure that underpins them being vulnerable. Their mobility, divisibility, inflation resistance, and transparency, on the other hand, have been lauded.

Cryptocurrency as An Investment
Cryptocurrencies may appreciate in value, but many investors regard them as speculative investments rather than long-term investments. What is the reason behind this? Cryptocurrencies, like actual currencies, have no cash flow. Therefore, for you to benefit, someone else must pay more for the currency than you did. This is known as the “greater fool” investment hypothesis. In contrast, a well-managed firm grows in value over time through increased profitability and cash flow.

For those who believe that cryptocurrencies like Bitcoin will be the currency of the future, it’s important to remember that a currency needs to be stable for merchants and customers to know what a fair price for products is. This price fluctuation is a problem.

People might be less inclined to spend and circulate bitcoins now if they are worth a lot more in the future, making them less viable as a currency. However, the boom in popularity and accessibility has led to a general acceptance of cryptocurrency as a probable future of money. #KhabarLive #hydnews

‍In Search Of 'True Freedom' After 75 Years Of Independence

Despite many achievements in various fields deserve huge applause 75 years since independence, social freedom is still elusive and nowhere seen. As the story of India’s successful non-violent struggle has inspired many thoughts and movements across the globe, and it is one achievement that every Indian should feel proud of it.

The Prime Minister has in January rightly appealed to people to write about freedom fighters and events associated with India’s independence. It is important that we remember the men and women who have the generous concern and the brave commitment to sacrifice their prime days for our today. 

We have come a long way from those days of channelizing our main resources, thoughts, and energies for the development of the primary sector and eradicating extreme poverty. The transition of India from being an entity composed of different princely states with individual interests to a country that not only stands united today but fought patriotically as one against external aggressions is no mean achievement by any yardstick.

Today, our significant advancement in science and technology, defence, literature, medicine, and the economy at large has captured the world’s attention so much so, India today is regarded not just as an economic powerhouse but also a responsible world leader. That India’s ambition to be part of the UN’s permanent seat garnered overwhelming support from many countries is a testament to the fact that we are no longer a country with a begging bowl.

It is however prudent to ask Is India's growth inclusive. If India lives in its village, as Gandhiji had said, the progress of the nation should thence be measured by the condition of the villages in India. The question which then arises is- “Are our villages self-sufficient today?”

Renewed focus on Subhash Chandra Bose and his Indian National Army is a heartening development, as freedom struggle, in as much as we would love it to be, is not just about Gandhiji and his followers. Also noteworthy is the little yet significant development in the acknowledgement of tribal movements in the North East, long ignored in mainstream narratives of India’s freedom movement; that native writers had to undertake painstaking efforts to rewrite the forgotten stories from scratch notwithstanding, several articles and books have appeared on the subject in recent times.

However, taking the opportunity to evaluate the progress we have made so far, and more so the challenges faced, there are some glaring unfortunate developments and the lack of concrete remedial initiatives thereof that is worth contemplating today.

The fact that hundreds of years of exploitation in the hands of the British have finally ceased for good is a momentous occasion worth celebrating in any sense. Sadly though, a country formed on the underlying principle of non-violence has seen domestic violence right from the moment it was unchained. 75 years later, even as our achievements in many fields deserve applause, social freedom is still elusive to us. 

We still have certain sections of our society that have witnessed countless exploitations and discrimination. What will freedom mean to those thousands of families living in the slums of Mumbai and to the hundreds of thousands of Adivasis who are subjected to social stigmas even today? They may be free of exploitation from foreign force but are facing the same hardship if not graver from their countrymen, and there is certainly no guarantee that the latter is milder to tolerate.

Social divisions such as -Hindu- Muslim, North-South, and the high caste-low caste exists below our artificial portrayal of a socially unified Indian, which manifested into unfortunate incidents on many occasions. In the words of Dr. B R Ambedkar, ‘So long as you do not achieve social liberty, whatever freedom is provided by the law is of no avail to you.’ The issue of social disparity is an issue as old as our civilization. The British made good use of it to further their agenda of divide and rule.

Seventy-four years after the British left, it remains ever fertile to seeds of discord. It is a collective failure on the part of those running the government thus far and no political party can claim to have no responsibility for it. If the present government has received flake for introducing controversial bills in parliament like the Citizenship Amendment Bill and the Instant Triple Talaq Bill, the governments before have been accused of failing to address social disharmony efficiently, if not ignorant of it altogether. 

While the economic impacts of the unprecedented onslaught of the pandemic are surely felt by many countries and it will be incorrect to measure India’s growth development based on current situations, the prevalence of extreme poverty, loss of livelihood and the aforementioned lack of social freedom is a concern India cannot overlook in its effort to portray the India shining image; this should be a commitment irrespective of which party rules.

For India to therefore effectively play a role as a world leader, it has to focus on its domestic issue. We might have comparatively fared better considering our Independence is not even a century old. But seventy-five years surely could have placed us in a far better position than we are at present. 

Independence Day is indeed a day of remembering our freedom fighters and celebrating their achievements. But most vitally, it is a day when we the people of India should celebrate our freedoms. Some of the unfortunate events that have happened post-independence would have left our freedom fighters surely in tears.

It will be a befitting tribute to our freedom fighters to ensure that the freedoms they have fought and laid their lives for, are thriving and blooming today in the world’s largest democracy. Happy Independence Day! #KhabarLive #hydnews

‍‍‍Why 'Gulf Migration Corridor' At Crossroads In Telangana?

Equipping and empowering our migrants to deal with the complications that arise at various stages of migration is no more an option.

Telangana, the 12th-most populated State in India as per the 2011 census, sends about 1.5 million of a total 8.8 million Indian expatriates to the Gulf. These labourers have played a crucial role in transforming the Gulf States from “camel to Cadillac”. Similarly, the Gulf migration has impacted the upward social and economic mobility of migrant households and strengthened Telangana’s economy through remittances they send home.

Northern Telangana, especially Karimnagar, Rajanna Sircilla, Nizamabad, Adilabad and Warangal districts, has witnessed widespread migration to Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE). Beginning from the second half of the 1980s, people from the Telangana region migrated to the Gulf as a response to the perpetual droughts, lack of irrigable water and the resultant agricultural distress, as well as the heightened naxalism and police encounters. The Gulf oil boom of the 1970s and the tremendous infrastructural development in the region spurred the demand for labour that acted as a pull factor. Since then, the migration of people of all ages, classes and skill levels from the Telangana region to the Gulf is uninterrupted.

Antilogy of Gulf Dreams

Poverty, unemployment, lack of opportunities, local entrepreneurial environment and debt from agriculture force many to seek jobs in Gulf countries. Expatriates from Telangana mostly work in low-paid, semi and low-skilled unorganised sectors of construction, retail, driving, sanitation and domestic work. A few work in the skilled sectors of care services, hospitality and hotel management as well.
Severe hardships they endure in the hostile terrains of Arab lands are yet to be studied and documented by academia and public intellectuals. They are the “precarious proletariat” in the true sense of the term coined by the renowned economist Thomas Piketty, working in 3D contractual jobs (“dirty, dangerous and difficult”) under the much-criticised kafala system in the alienated Gulf societies.

Stagnated wages are an ignored ill-face of blue-collar jobs in the Gulf. They live in overcrowded labour camps or so-called “bachelor” houses, taking up multiple jobs or overtime in arduous work environments with bare minimum facilities for sending some extra money home. They are deprived of social safety nets and labour rights.

Women domestic workers and caregivers who work in the least regulated environments of their sponsors’ houses are often subject to inhuman treatments, gender-based violence and exploitation.
Financial strains and resultant stress, uncertainties related to the temporary contract visa, emotions of loneliness for being away from the family for years together, and concerns about the wellbeing of the family left behind add to the vulnerability of these migrants. Many suffer from serious health problems, and the instances of death due to health complications and suicides are yet to be addressed in our public discourses on migration.

Today, the Gulf dream for many is shattering due to the changes in the tax system, nationalisation and labour quota policies intended to reduce expatriate labourers, such as the Nitaqat in Saudi Arabia. The Covid-19 pandemic has aggravated their sufferings, and many are facing the threat of job loss, over-work and reduced salaries or have already lost their jobs.

Return and Re-migration

Unlike the earlier waves of return migration during the Gulf War (1990s), the oil crisis and the economic depression (2000s), or the labour nationalisation (2010s), the pandemic-induced return is unprecedented. The prospect of re-migration is bleak, especially for the low-skilled, with Gulf labour markets moving forward with rigorous migrant labour reduction programmes as a response to the economic fragility, demographic transition and rising unemployment among natives. Parallelly, India is going through an alarming phase of rising unemployment and declining economic growth. It is in this context that these jobless migrants are returning, feeling dejected and disillusioned.

It is estimated that over 75,000 migrant workers in the Gulf from across Telangana are terminated from their jobs and hurriedly returned without procuring salary arrears and end-of-service benefits such as bonus, PF, gratuity, and so on. This serious issue of “wage theft” is not entirely a new pandemic-induced phenomenon, but several employers are taking undue advantage of the current situation. Hence, returning penniless and abashed, they are forced to borrow money or sell assets that they have hard-earned from the Gulf jobs for their sustenance and clearing off previous loans and debts.

Owing to the lack of alternative livelihood opportunities and a supportive reintegration and rehabilitation policy, many returnees, especially between 20 and 45 years age group, are left with no option other than to re-migrate to the Gulf. But, it is more difficult and expensive to re-migrate now due to the long waiting period for Covid-19 vaccines in India, ever-changing entry rules and travel bans in the Gulf, and uncertainty and diffidence around finding new employment or joining back in the earlier Gulf job.

Indian expatriates, including the Telugu people, are taking various transit routes via Nepal, Maldives, Sri Lanka, Armenia and Uzbekistan to enter the UAE, Saudi, Oman, and Kuwait as direct entry is barred to these countries. They spend around  Rs 1.5 lakh for these journeys, booking chartered flights, 14-day quarantine in transit countries and PCR tests before entering the final destination. Desperate to get back to the Gulf, these migrants take bank loans or borrow money from private lenders, further falling deep into the debt trap.  

Deceptive Agents, Issue of Trafficking

Even though the bona fide channel of migrating abroad for work is through recruitment agencies licensed by the Ministry of External Affairs (MEA), many approach or are approached by fraudulent agents to facilitate an easy path to the Gulf. The existence of only fewer than 25 registered agencies in the entire State of Telangana makes running an illicit recruiting and travel agency lucrative. The State government established the Telangana Overseas Manpower Company Ltd (TOMCOM) in 2016 to ensure safe, legal migration.

However, taking advantage of high demand from the unemployed and circumstances of those who wish to migrate, the nexus of fraudulent recruiting agents continue to thrive, bypassing all valid emigration procedures. They often dupe job seekers with visit visas or the notorious “free visas” instead of proper employment visas and “push” them through emigration procedures at the source and destinations.

The recent news reports of Telugu women trafficked by promising “high-paying” domestic worker and caregiving jobs in Arab households encapsulate the issue’s gravity. Widespread irregular practices exclude migrants from the official databases and make them susceptible to exploitation and abuse by recruiters, sponsors and/or employers. Their dubious immigration status and lack of proper documents also make it hard for the destination countries’ labour courts to issue legal directions and the Indian government to assist them if they land in any trouble.

Proactive Approaches

Emigration is not often a joyous affair, even though most people migrate voluntarily to the Gulf land of plenty to materialise their dreams of becoming rich, buying land, building secure houses, and saving money for a better future for their family and children. It is necessary to equip and empower them to deal with the complications that may arise at all stages of migration.

Pre-departure orientation and skill training needs to be vigorously imparted to all aspirant migrants to provide them better bargaining power in the destinations, along with a detailed awareness programme on the available Centre and State-level welfare schemes. Likewise, empowering them digitally will equip them to resort to various government portals, like the MADAD, for grievance redressal and verification of the credibility of their visas.

Existing public mechanisms, including the Telangana State Skill Development Mission (TSSDM), National Academy of Construction (NAC) and Industrial Training Institutes (ITI), need to be roped in effectively for skilling and skill upgradation training for aspiring migrants to meet the latest labour and technology adaptation demands. The Institute of Driving Training and Research Centre (IDTRC) in Sircilla is a laudable initiative, which too can be roped in.

Similarly, those who have returned during the pandemic should be directed to register themselves with the SWADES portal of the government  of India to find job opportunities in Indian and foreign companies. There should be policies to incentivise returnees above the age of 50 to start micro, small and medium (MSME) businesses to better utilise their savings, skills, international exposure and experiences.

Migration related awareness creation should be TOMCOM’s top priority of the, along with skill development, training, and overseas recruitment. Operations of unregistered recruitment agencies need to be curbed to ensure safe, orderly and regular migration from the State. Migrant-specific welfare schemes that include migrant families and returnees to its fold need to be initiated at the Centre and State levels.

The scope of some of the existing schemes can be extended, for instance, the Pravasi Bharatiya Bima Yojana, the emigrants’ insurance scheme launched in 2003, to cover deaths by diseases. There also needs to be a special fast-track arrangement in the State for the Gulf migrants to get Covid-19 vaccines to head back when the travel bans are lifted.

Emigration Bill, 2021

The proposed Draft Emigration Bill, 2021, requires further deliberations before passing to ground it on the realities and diversities of emigration of Indians abroad as well as their return and reintegration. Limited availability of data and the discrepancy of available statistics are major stumbling blocks in formulating evidence-based policies and their effective implementation. Hence, creating a consolidated database on migrants and returnees should be the priority of Central and State governments.

For instance, eMigrate initiative of the MEA records only 15 unregistered recruitment agencies in Telangana, which is a gross underestimation. A comparative understanding of best practices and the emigrant welfare programmes implemented by different States governments can be mutually beneficial, and the Telangana government should take formal initiatives and establish permanent bodies in institutionalising such exchanges between other State governments and their agencies like the NORKA in Kerala.

Indian embassies in the Gulf region need to be strengthened to ensure proactive interventions when our expatriates are in need, like providing legal aid or pro-bono lawyers for “wage theft” cases and filing claims on behalf of returned migrants in the Gulf labour courts. Likewise, considering the migrant numbers, initiatives to set up more consulates of the Gulf countries in different parts of the Telangana region can promptly address the issues faced by the migrants in the destination.

The crucial role of civil society and grassroots level organisations based in Telangana and the Gulf for the welfare of emigrants in normal and emergency situations should not be missed. Their advocacy prompted the MEA to roll back its recent circulars on minimum referral wage (MRW) reduction.

The Sircilla-based Telangana Gulf Joint Action Committee, Hyderabad-based Emigrants Welfare Forum, Gulf Telangana Welfare and Cultural Association, Pravasi Mitra Labour Union, and the Dubai-based Indian People’s Forum are a few to mention. The proactive intervention of KT Rama Rao, Minister of IT & NRI Affairs, and KR Suresh Reddy, MP from Telangana, is worth mentioning in the MRW issue.

Bheem Reddy Mandha, president of the Emigrants Welfare Forum, says, “Telangana migrants in the Gulf are sending about Rs 27,000 crore per annum as remittances, and it is, directly and indirectly, boosting the economy. The government should reciprocate by allocating Rs 500 crore in the annual Budget for the welfare of Gulf migrants and their left-behind families”. We should listen to our migrants and their needs, as it is our responsibility as a progressive society to extend solidarity to them during these testing times. #KhabarLive #hydnews

‍‍‍‍Why Telangana's Economy Cannot Afford Another Lockdown?

As experts warn of a potential third Covid wave, many Telanganaiets are worried about their next paycheck. Small businesses and informal workers fear another lockdown could spell an end to their livelihoods.

As a delayed monsoon finally reaches Telangana, shopkeepers at a local market duck under covers and frantically attempt to keep their merchandise from getting wet.

They say they cannot afford any further blow to their small business following more than a year of erratic income due to the coronavirus pandemic. Now there is fear of another crippling COVID-induced lockdown.
"This government cannot survive another lockdown," Kiran Kumar tells #KhabarLive. "They will get voted out if further restrictions are imposed on us."

Kumar runs a small shop in Hyderabad’s upscale Charminar Market. His tiny shop, a 3-foot-by-3-foot (.28 square meters) hole in a wall filled with clothes, is still able to feed his family of five.

But as experts warn of a potential third COVID wave in the coming months, India's flagging economy — especially the micro, medium and small scale enterprise (MSME) sector — could face devastating repercussions from another lockdown.

Of the 63.4 million units that make up India's MSME sector, 99.4% are micro-enterprises, government data shows.

Located about 15 meters from Kumar's store is the Faqir Chand bookstore. Abhinav's family has been running the shop for four generations. The bookstore has seen numerous periods of severe political instability, economic downturns, and most recently, second wave of the coronavirus.

Shops closed down nationwide and offices resumed home office.
"The store was closed for nearly three months," Abhinav tells #KhabarLive. The family left for their hometown in a nearby state.

"We were among the luckier ones," he says. But for many people like Kumar, shutting shop even for a few days has serious repercussions, and working from home was not an option.

In the midst of the second wave, the government released data that indicated that Telangana's gross domestic product (GDP) grew at 1.6% in the January-March quarter of the 2020-21 fiscal year, just as coronavirus infections were rising. A contraction of 7.3% was reported for the entire fiscal year.

But some economists slammed the data as vastly exclusionary.
"Our GDP data just doesn't take the unorganized sector into account. It is entirely based on the organized sector, and largely the corporate sector data," Indian economist Arun Kumar told #KhabarLive.

Kumar recently authored a book about the economic impact of the pandemic, titled Indian Economy's Greatest Crisis: Impact of Coronavirus and the Road Ahead.

"The behavior of the unorganized sector is very different from that of the organized sector. The latter braved the storm a little better, but mostly at the expense of the unorganized sector," he said.

"If the unorganized sector and the destruction of agriculture are taken into account, the economy contracted by 29%," Kumar added.

Most Indians typically purchase daily necessities from a local store close to their homes. But during COVID, many have turned to online shopping, much to the dismay of small neighborhood stores.

As India continues to record about 40,000 new infections daily, medical experts have warned of an impending third wave that could jeopardize efforts to bring the economy back on track.

"When the cases started to spike in February, we knew another wave was coming but our expertise was disregarded," Dr. Rajan Sharma, former president of the Indian Medical Association, told #KhabarLive. "No one was prepared for what followed."

The pandemic moves in ebbs and flows, and no expert can give a date when a third wave will start nor its intensity, Sharma explained.

Vaccinating a large part of the population is crucial in preventing a significant rise in infections, he added.

More than six months after India began the world's largest vaccination drive, only 7% of the country's population has been fully vaccinated.
"Vaccinating a population as vast as ours is a monumental task," he says. "In addition to acquiring the number of shots required, people also need to trust medical advice."

According to Sharma, doctors also need to be stakeholders in policy formulation to successfully manage future waves.

"The country needs an 'Indian Medical Service' just like it has the 'Indian Administrative Service' or 'Indian Revenue Service.'"

India faces the dual challenge of ramping up vaccinations in the interiors of the country and reviving its flailing economy.

The government needs to cater to the micro sector by providing help in the form of marketing, finance, technology, Kumar said.

"The economy is suffering from a lack of demand. If the people don't have the purchasing power, the economy cannot recover," Kumar said, adding India should boost rural employment guarantee schemes and launch similar schemes in urban areas for the unemployed.

But for now, the small shop owners at MJ Market do not have the luxury to think about the state of country's economy. For now, Ashish Kumar needs to protect his merchandise from the rain and buy rice to feed his family. #KhabarLive #hydnews

'The Proteins Butchers Academy' Plans To Build 'Professional Butchers' Training In Hyderabad

The city is home to several meat stores. It is home to 4000 chicken, 2000 mutton, 2000 fish shops and hundreds of street-side sales also happen.

 Necessity is the mother of invention. Thanks to Proteins Hygienic Non-Veg Mart, Hyderabad based bootstrapped phygital (physical stores & e-commerce) startup is soon going to have (probably India’s first city) a Meat Academy that will teach lessons of Butchery Skills. It is probably the first city in India to think in this direction of professionalizing Butcher Craft.   

Proteins Hygienic Non-Veg Mart, the Hyderabad based first modern meat retail chain that is expanding its footprint from current 11 stores to 75 by the end of March 2022 by investing about 22 crores is facing a huge shortage of trained and skilled butchers. To overcome this problem it is coming out with the Academy to train people in butchery skills.  Srinivasa Rao Potini and Vijay Chowdary Tripuraneni, the founder​s​ of the company who are also serial entrepreneurs and invested in My Stores, Lenin House Exclusive Stores; Goa Grills announced in the city in a press conference held recently.  

We are thinking about the Academy because we are seeing a huge potential for the space.  What was 2010 for general retail and e-commerce, these few years will be the same for the meat industry: Manchala Vamshi Rai, alumni of Bits Pilani and Director of Proteins Hygienic Non-Veg Mart. 

It plans to train 500 butchers in the next 8 months. It will be on the job training. 10th class pass or failure will be absorbed for the training. They will be given a stipend of Rs 8000/- pm and upon completing the three-month training they will be absorbed into full-time employment.   

Butchers are meat cutters who prepare the meat for the purpose of sale.   

The training will be a short term course that offers skills and training on how to expertly perform Butchery/Meat Cutting, informed Mr Vijay Chowdary Tripuraneni, founder of Proteins Hygienic Non-Veg Mart and the brain behind this novel academy.  

Many hotel management colleges have this subject as their course curriculum. Butchery craft is also taught as part of the course.  

But, there is no exclusive Butcher Craft Training Institute in Hyderabad. Also, there is no information available on the internet about such an exclusive training institute. That is why it is going to be probably the first city in India to have a Butchery Academy. Though this is not open for people who just want to come and learn and go. It is going to be started with the exclusive purpose of training people for their internal use.  

Many Veterinary Colleges also run Butcher Training classes just as part of their overall curriculum. We at ICAR--National Research Centre on Meat also sometimes run Butchery training classes. But now we are not doing these courses because of the COVID. As far as my knowledge goes there isn't any exclusive Butcher Training Academy said Dr S.B Barbuddhe, Director of ICAR-National Research Centre on Meat at ICAR-NRCM office at Chengicherla, Hyderabad.ICAR--National Research Centre on Meatworks under the aegis of Indian Council of Agricultural Research (ICAR). Headquartered in Hyderabad, its mission is to develop a modern organized meat sector through meat production, processing and utilization technologies and serve the cause of meat animal producers, processors and consumers. 

Emmanuel, Director of the IIHM—International Institute of Hotel Management, Asia’s largest Hotel Schools Chain says there are Meat Technology and Meat Certification Technology courses  etc and many other.  There are plenty of organizations in abroad.  But, I haven't come across any exclusive Butchers Academy  If anyone is starting an exclusive academy it is really good for everyone, he said.  

The butcher as we all know is a meat cutter. He chops, portions and grinds various kinds of meat. To identify meat cuts, cut meat properly, avoid waste, identify good quality meat, store it properly, waste management etc. His job responsibilities include preparing the meat, packaging and serving the customers.    

Hyderabad is the meat consuming city and top in the country. Meat worth INR 3500 crore is consumed every year in the city. The city boasts of conventional shops. The city, according to Vijay Chowdary Triperaneni, the founder of the chain of one-stop meat shops, is home to 4000 chicken, 2000 mutton, and 2000 fish shops. But most of them are untidy and unhygienic. 95% of the meat industry is unorganised, known for poor infrastructure, unhygienic and have an unfriendly atmosphere, and are unreliable for quality and availability.   

Ever since the pandemic hit, people have become more hygiene conscious. They have been giving a lot of importance to fresh food. Now things are changing slowly and steadily.  

The traditional meat shops are being modernised. According to Mr. Manchala Vamshi Rai, an alumnus of Bits Pilani and Director of Proteins Hygienic Non-Veg Mart, more and more professionals are getting into the industry. More investments are being pumped in to offer a modern experience similar to supermarkets. 

The stores are now made women-friendly. They have a rich ambience. 

Conventionally more men go to shops to fetch meat. Though women go to vegetable shops, we don’t see many women going to meat shops because of un-women-friendly ambience and poor infrastructure. So things are changing and they are changing for good. 

The potential of the meat market in India is 4 lakh crore. There is a huge potential for the growth of modern meat retail chains. Keeping this in mind, the Hyderabad based bootstrapped phygital (physical stores & e-commerce) startup has embarked on this initiative. 

Vision is to provide the best professional shopping experience to meat buyers. We must make available the most hygienic, fresh and quality meat for the common man at affordable prices in the most professional manner possible. By meat, it means fish, prawns, crabs, mutton, chicken and their products says Mr. Vamshi.  

In pandemic times like these eating hygienic meat is as important as wearing a mask and maintaining social distance.  

Professionalizing butcher's work is a good idea. I am sure a lot of takers will be there for the training program.  

It will also create newer employment opportunities, said Divi, Big Boss fame, actress and model. She is a brand ambassador to Proteins. #KhabarLive #hydnews 

‍‍‍‍Why Medical Device Industry Beckons Investors In Telangana?

Despite the pandemic, many global med-tech companies brought COVID-specific product designs and specifications from the US to India to collaborate with Telangana manufacturers. The Telangana medical devices market is expected to grow from USD 11 billon to nearly USD 50 billion by 2025.

There is no doubt that Covid-19 has had severe implications on almost all sectors of the economy including the medical device industry. Although there was an all-round and immediate stimulus provided for Covid-related medical devices, the sector as a whole had to face loss of sales and revenue, at least for some duration.

According to the Medical Technology Association of India, because of Covid-induced de-prioritization and decline in elective surgical procedures and treatments, there was a 50 to 85 per cent fall in revenue during April-June quarter last year. The overwhelming disruption triggered by the pandemic had not only led to supply chain snags, but the increased cost of freight movement further hurt the industry. Given the Telangana manufacturers’ dependency on foreign components, this was a particularly critical factor.

However, notwithstanding these challenges, from the standpoint of investment, the Telangana medical device industry has remained vibrant and conducive to both foreign and domestic investment even during this period.

Although it may seem counter-intuitive, the fact that foreign investment in the sector shot up by 98 per cent y-o-y in 2020, almost doubling in the year of the pandemic as compared to the previous year attests to the long-term robustness of the Indian medical device sector and the confidence that foreign players repose in the domestic economy.

In fact, in the last five years (2015-2020), the country has received USD 600 million with major investments coming from Singapore, United States, Japan and Europe. And among medical device categories that most attracted these investments have been equipment, instruments, consumables and implants.

In May last year, when the sector was navigating through the first phase of rough Covid waters, Japanese investors had displayed interest in setting up a manufacturing base for in vitro diagnostic device (IVD) and medical electronics in the country during their discussions with Association of Manufacturers of Medical Devices Of Telangana (AMeDT).

In fact, as part of the initiative, Telangana is eyeing 200 joint ventures with foreign investors for nearly USD 2 billion and above as well as with 50 MNCs for the same amount, apart from looking to forge 1200 technical collaborations with Telangana investors for nearly USD 5.7 billion. Similarly, a number of global med-tech companies did bring COVID-specific product designs and specifications from the US into India to collaborate with Telangana manufacturers.

And this confidence stems from the fact that the regulatory environment for medical devices sector in recent years has continued to evolve as more appealing and investor-friendly. Back in 2014, the government had recognized this sector as a sunrise sector under the Make-in-India campaign.

With the aim of encouraging all possible investment, the rules have allowed up to 100 per cent investments for both Greenfield and brownfield through automatic route into this sector.

Then in 2017, the Medical Devices Rules aligned the country’s regulatory structure with Global Harmonization Task Force (GHTF) guidelines stipulating a four-way risk-based classification of medical devices while also granting perpetual license to a manufacturer subject to fresh application and retention every five years.

From the foreign manufacturers’ standpoint, the 2017 rules did away with the erstwhile need for registration and now the appointment of a local authorized agent could facilitate imports into the country. Further, under the Medical Device Amendment Rules 2020 laying down mandatory registration with appropriate authority with different timelines for each class of equipment not only infuses transparency but also firms up quality assurance of the products.

In terms of the latter, the requirement for obtaining ISO 13485 certification further inspires confidence in the Indian medical device sector. Administratively speaking, the government established the National Medical Devices Promotion Council in 2018 with a view to further streamline and give directions to the domestic medical device sector.

Of course, this has to be evaluated against the increasingly unfavourable investment climate in other countries such as China in terms of raw material and labour costs, unfavourable trade policy, IP protection issues, low level of domestic technological base etc.

Foreign investor would do well to remember that the Atmanirbhar Bharat programme driving the self-sufficiency crusade of the government is not antithetical to foreign investment and holds tremendous opportunities for the latter.

From ever-increasing investment in medical device parks and clustering projects with the view to develop world class infrastructure and testing facilities to the Production Linked Incentive (PLI) scheme allowing incentives on incremental sales on certain categories of medical devices, each of these offer prospects wherein foreign investors can also participate and reap dividends in the long term.

That the Indian Ambassador to the US cited the PLI scheme as one segment, among others, where US investors could contemplate investing demonstrates that India is actively seeking FDI into these domestic make-in-India programmes.

Furthermore, with med-tech and medical device startups making their presence felt along with several businesses reinventing themselves to manufacture Covid-related supplies in the last one year, this is another space where foreign investors can participate and indeed they have participated.

Along with telemedicine serving as one critical element driving the ‘healthcare revolution’ in the country, several new home-grown medical technology/device startups leveraging new-age technologies such as 3D printing, AI, smart sensors and robotics making hi-tech contactless health devices and many others – have attracted considerable amount of funds as foreign investment (and domestic investment) into their companies over the last one year or so. At present, there are an estimated 4000 health-tech startups operating in the country.

In all, the spirit of entrepreneurship displayed by Indian companies in recent times coupled with a proactive government making unprecedentedly high allocation to healthcare with its positive spill over effects for the medical device industry, spells a very bright future for this sunrise sector.

Investors, both foreign and domestic must not let go of this opportunity. Remember the Indian medical devices market is set to grow from USD 11 billon to nearly USD 50 billion by 2025. #KhabarLive #hydnews

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Following a successful embryo transfer, the surrogate, after receiving a hefty advance payment, went underground despite the formal facilitation of the process by a reputed gynaecologist. She appeared only a month after delivery to hand over the parents' prized possession. The blessed parents swiftly forgot their misery as soon as all the paperwork was completed and they received their little bundle of joy in their hands. After all, their dream of having their biological child had finally come true.

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