Govt approves Wage Revision & Pension Revision for PSGICs, NABARD and RBI (See 'Corp Brief') ICAR-Borlaug Institute jointly organise NICRA Review and ACASA-India Launch Workshop (See 'Corp Brief') Sundays on Cycle to celebrate National Voters' Day through #MYBharatMYVote (See 'Corp Brief') India is Partner Country at Gulfood 2026 for First Time (See 'Corp Brief') NHA Organizes Federated Intelligence Hackathon for Healthcare at IIT Kanpur (See 'Corp Brief') Trade Mark - permanent injunction allowed on use of certain Trade Mark, which is visually, phonetically & structurally similar to an existing trade mark, which also has considerable goodwill: HC (See 'Legal Desk') NIFT Conference 2026 on 'Design for Inclusive Futures' Opens at NIFT Mumbai (See 'Corp Brief') MSDE signs landmark MoU with WEF to deepen Cooperation in Vocational Education (See 'Corp Brief') Ministry of I&B Tableau showcases Vision of WAVES (See 'Corp Brief') Scindia chairs Q3 Business Review to Fast-Track India Post's transformation (See 'Corp Brief') IBC - Valuation report submitted by RV serves as critical document for Committee of Creditors to take crucial decision about resolution plan in CIRP and reserve price of asset during liquidation: IBBI (See 'Legal Desk') CMD, IREDA Highlights India's Solar Leadership at WEF (See 'Corp Brief') Cotton Corporation hands over Rs 8.9 Cr dividend to Textiles Minister (See 'Corp Brief') India to showcase AI Impact, Sovereign Models and Safety Frameworks (See 'Corp Brief') CTIL, NLU Odisha organize Conference on Role of Trade in Global Energy Transition (See 'Corp Brief') IBC - If attachment action may jeopardise resolution plan and cause grave prejudice to interest of homebuyers, matter needs further consideration: HC (See 'Legal Desk') MoPNG organises High-Level Upstream Engagements on Financing & Regulatory Reforms (See 'Corp Brief') NHAI, Konkan Railway sign MoU to Strengthen Integrated Infrastructure Development (See 'Corp Brief') SAMPANN pension portal integrates with UMANG Portal (See 'Corp Brief') Patel launches NBEMS Online Training Program on AI in Medical Education (See 'Corp Brief') Trade Marks - Hermes, Birkin marks - suit for infringement allowed, as both marks are well-recognized & consistently used: HC (See 'Legal Desk') CCI embraces government monopolies and PSUs (See CORP EINSICHT) Centre releases Rs 213 Crores Grants to strengthen rural local bodies in Assam (See 'Corp Brief') Strengthening Bilateral trade and International Market Linkage for fisheries exports (See 'Corp Brief') Scindia reviews BSNL's Q3 Performance; Stresses on Quality of Service (See 'Corp Brief') CCI okays combination between Bhushan Power, JSW Sambalpur, JFE Steel and JSW Kalinga (See 'Corp Brief') Companies Act – Company Court cannot order release of assets to ex-director without adjudicating rival claims: HC (See 'Legal Desk') CCI permits Apollo Hospitals to pick up equity in Apollo Health (See 'Corp Brief') CCI approves acquisition of equity share of Thriveni Pellets by Tata Steel (See 'Corp Brief') CCI allows Emirates NBD Bank to pick up equity in RBL Bank (See 'Corp Brief') Goyal to address 65th Central Geological Programming Board Meeting in Delhi (See 'Corp Brief') PMLA - Assets derived from unlawful betting activity may be treated as proceeds of crime: HC (See 'Legal Desk') Govt's focus is on climate-smart aquaculture and efficient resource utilisation (See 'Corp Brief') Sonowal Issues Clarification on Forged Letter (See 'Corp Brief') A&C - Arbitral tribunal is legally empowered to terminate proceedings u/s 38(2) of Arbitration Act, if party fails to pay its share of arbitrator's fees: SC (See 'Legal Desk') Science ministries push thematic clustering of Startups at review meeting (See 'Corp Brief') Nearly 100 delegates from over 70 countries to participate at ECI event (See 'Corp Brief') A&C - Bill discounting is short-term, high-risk commercial financing mechanism where elevated interest rates are neither unusual nor inherently unfair: SC (See 'Legal Desk') CEA has successfully conducted 220 elections; 70 elections currently underway (See 'Corp Brief') Service Matter - Government is bound by same limitation laws as any other party; delay caused by bureaucratic procedures cannot be mechanically condoned: HC (See 'Legal Desk') Khattar inaugurates Centre of Excellence for power sector regulatory affairs at Delhi IIT (See 'Corp Brief') Misc - Civil suit seeking cancellation of a registered sale deed is barred u/s 34 of SARFAESI Act when SARFAESI measures have been initiated: HC (See 'Legal Desk') Port, Inland Waterways Projects Worth Rs 552 Crore launched to boost Riverine Logistics (See 'Corp Brief') Manjhi inaugurates PM Vishwakarma Haat 2026 in New Delhi (See 'Corp Brief') PMLA - If property is attached for value thereof to proceeds of crime, it happens when proceeds of crime acquired or obtained directly or indirectly is not available in hands of person: SAFEMA (See 'Legal Desk') AIIA celebrates National Startup Day 2026 (See 'Corp Brief') SEBI - Proposed Acquirer shall be exempted from complying with requirements of sub-regulation (1) of regulation 3 and regulation 4 of SAST Regulations, 2011 with respect to direct acquisition in Target Company: SEBI (See 'Legal Desk')

Cabinet approves continuation of O-SMART at cost of Rs 2177 Cr

Published: Nov 24, 2021

By TIOLCorplaws News Service

NEW DELHI, NOV 24, 2021: THE Cabinet Committee on Economic Affairs today gave its approval for continuation of the umbrella scheme "Ocean Services, Modelling, Application, Resources and Technology (O-SMART)" of Ministry of Earth Sciences, for implementation during the period from 2021-26 at an overall cost of Rs. 2177 crore.

The scheme encompasses seven sub-schemes namely Ocean Technology, Ocean Modelling and Advisory Services (OMAS), Ocean Observation Network (OON), Ocean Non-Living Resources, Marine Living Resources and Ecology (MLRE), Coastal Research and Operation and Maintenance of Research Vessels. These sub-schemes are being implemented by autonomous/attached institutes of the Ministry, viz. National Institute of Ocean Technology (NIOT), Chennai; Indian National Center for Ocean Information Services (INCOIS), Hyderabad; National Centre for Polar and Ocean Research (NCPOR), Goa, Center for Marine Living Resources and Ecology (CMLRE), Kochi; and National Centre for Coastal Research (NCCR), Chennai as well as involving other national institutes. A fleet of oceanographic and coastal research vessels of the Ministry provide required research support for scheme.

The research and technology development pertaining to oceans in India was initiated by Department of Ocean Development (DoD), which was set up in 1981 which later merged to Ministry of Earth Sciences (MoES) and continuing since then. MoES has achieved significant position in the Oceanographic research through technology developments, forecast services, field installations, explorations, survey, technology demonstrations towards national benefits. The O-SMART scheme encompassing oceanographic research activities is being implemented with the objectives for providing forecast and services based on the continuous observation of our oceans, development of technologies and exploratory surveys for sustainable harnessing of our oceanic resources (both living and non-living) and promotion of front-ranking research in ocean sciences.

Several major milestones have been achieved through the activities of the scheme, the most significant is India's recognition as Pioneer Investor with International Seabed Authority (ISA) for conducting extensive research on deep sea mining of Poly Metallic Nodules (PMN) and hydrothermal sulphides in the allotted area of the India Ocean. The technology development for desalination using low temperature thermal desalination installation of such facility in Lakshadweep islands is also a significant achievement. Moreover, India's ocean related activities are now extended from the Arctic to Antarctic region covering large ocean space which have been monitored by through in-situ and satellite-based observation. India has taken leadership role in implementing Indian Ocean component of Global Ocean Observing System in Intergovernmental.

Oceanographic Commission through wide range of observations networks including both moored and drifters' types have been deployed and maintained in the Indian Ocean. These observation network yields ocean forecast services for potential fishing ground and natural costal hazards warning for storm surge associated with cyclone and Tsunami to stake holders at nations levels as well as neighbouring countries. A state-of-the-art early warning system for oceanic disasters viz. tsunami, storm surges, has been established at INCOIS, Hyderabad to provide services for India and countries of the Indian Ocean, which have been recognized by UNESCO. Extensive survey along the Indian exclusive economic zone (EEZ) and continental shelf of India are conducted for national benefits towards identifying ocean resources, Ocean related advisory services, navigation, etc. Assessment of living resources in the EEZ and deep ocean of India including mapping of the living resources has been undertaken for marine ecosystem with goal for Conservation and protection of Marine Biodiversity. The Ministry has been also monitoring the health of coastal waters of India including shoreline changes and marine ecosystems.

OSMART being a multidisciplinary continuing scheme, the ongoing extensive research and technology development activities would augment capacity building of the nation in the oceanographic field at the international level. The present decade has been declared as the Decade of Ocean Science for Sustainable Development by the United Nations (UN) and continuation of the scheme would strengthen our stand in the global oceanographic research and technology development. This continuation of the scheme would contribute significantly towards national policy on blue economy for effective and efficient use of the vast ocean resources in a Sustainable way. Efforts towards achieving United Nations sustainable Development Goal-14 to conserve and sustainably use the oceans, seas and marine resources are being covered through the coastal research and marine biodiversity activities. Significant contribution to the national GDP is being made and to be continued through the ocean advisory services and technologies developed benefiting communities and several sectors working in the marine environment, particularly in the coastal states of India.

In the next five years (2021-26) this scheme would provide further comprehensive coverage through strengthening the ongoing activities towards delivering cutting edge technology applicable for marine domain, forecast and warning services to various coastal stake holders, understanding biodiversity towards conservation strategy for marine living organisms and understanding coastal processes.

TIOL CORP SEARCH

TIOL GROUP WEBSITES