Hello,
Elon Musk may have left India on “read”.
The government doesn’t expect Tesla to move forward with an investment after radio silence from Musk’s team, which hasn’t made any further inquiries with officials since the billionaire postponed an India visit in late April.
Indian drugmakers are getting plenty of attention, though.
Zydus Lifesciences received tentative approval from the US health regulator to market its blood pressure drug, while Alembic Pharmaceuticals received approval for its generic Ivosidenib tablets used to treat certain types of bone marrow and bile duct cancers.
A lot more is happening on the pharma front.
AstraZeneca India unveiled a $30 million investment to expand its Chennai-based Global Innovation and Technology Centre, expected to be its largest one globally. Turns out, health really is wealth.
Meanwhile, rising prices are making even big brands say “we have food at home”. With the growing popularity of iced coffee drinks like lattes and macchiatos, brands like Nestle and Keurig are jumping at the opportunity to woo people away from pricey barista-made Frappuccinos.
Speaking of food, Caesar salad has just turned 100!
This perennial menu favourite was created in 1924 by Italian immigrant Caesar Cardini at his restaurant in Tijuana, Mexico when he was struggling to feed an influx of hungry people during the Prohibition era.
A bed of Romaine leaves, a dash of garlic oil, Worcestershire sauce, lemons, eggs and Parmesan, and voila— a star was born.
Tijuana plans to commemorate the anniversary this month with a three-day food and wine festival, and the unveiling of a statue of Cardini. Andiamo!
In today’s newsletter, we will talk about
- Using AI to detect diseases
- Rewriting Bihar’s story
- Building a Rs 4,000 Cr biz
Here’s your trivia for today: What was the artificial sweetener saccharin first derived from?
Startup
Using AI to detect diseases
Critical diseases are often detected through manual examination of samples placed under a microscope. This process is prone to human error, often leading to misdiagnosis and severe consequences, including death.
Bengaluru-based SigTuple’s primary goal is to automate the manual review of visual medical data–i.e. images of biological samples of blood and urine.
Lab work:
- SigTuple’s AI-driven software automates microscopic review and brings down the load of the pathologist. It identifies the different types of cells or parasites present in the sample and predicts the disease condition in less than a minute.
- Its flagship product AI100 is an automated digital microscope with a built-in AI platform, which manages and analyses data to support data processing and diagnostic capabilities.
- The startup, which is backed by Endiya Partners, Accel, Chiratae Ventures and Flipkart Co-founder Binny Bansal, has raised about $40.8 million in funding so far.
Interview
Rewriting Bihar’s story
Bihar is where Gautam Buddha found enlightenment. It is also the birthplace of great kings like Chandragupta Maurya and Asoka. Despite its glorious history, the state doesn’t enjoy a great reputation today.
“Bihar faces what is called a perception bias,” says Nitish Mishra, Minister of Industries and Tourism, Government of Bihar, in a conversation with Shradha Sharma. So perhaps, it is time to change that perception. This mission has been the Minister’s driving force for the past two decades.
Into the future:
- The state has taken slow but steady steps toward social and economic transformation. Being self-sufficient, or Aatmanirbhar, is now a conscious strategy, be it to provide basic resources to the state’s citizens or to build future socio-economic growth opportunities.
- Bihar today boasts of two international and one domestic airports. Other than Patna, there is an international airport in Gaya, where Gautam Buddha found his truth.
- The state has set aside Rs 3,819 crore as capital for roads and bridges. In addition, Rs 9,000 crore has been earmarked for affordable power and allied subsidies.
SMB
Building a Rs 4,000 Cr enterprise
Eastman Industries, a Ludhiana-based multi-segment manufacturing company, was founded in 1970 to make rubber brakes for bicycles. Today, its business spans bicycle parts, hand tools, power tools, batteries and even parts for tractors. The company exports to 64 countries.
Founder J K Singal later expanded the business worldwide by seeking opportunities in every crisis.
Growth:
- The start for Singal was a disaster as goods worth Rs 75,000 were ready to be shipped for export but the exporter cancelled the order. The founder didn’t lose hope and eventually landed an order worth lakhs.
- Now Eastman Industries is deploying the technology on a large scale where it wants to automate a lot many processes in the company.
- Singal is someone who believes cash flow is sacrosanct for any business. “At any given point of time one should have cash in hand,” he remarks.
News & updates
- Crackdown: The European Union will impose tariffs of up to 37.6% from July 5 on imported electric vehicles made in China, and has also launched probes into Chinese clean tech subsidies and imports in the latest effort to protect home-grown manufacturers.
- First bids: HSBC Holdings’s sale of its German wealth-management unit is attracting initial interest from peers including BNP Paribas and UBS Group as the London-listed lender looks to streamline its global footprint.
- Hybrid: German premium carmaker BMW is sticking to planned investments for its battery-powered future while holding onto its conventional gasoline-fueled roots, its technology chief said.
What was the artificial sweetener saccharin first derived from?
Answer: Coal tar.
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