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EduSpace Internships Create your edge, intern in your interest The 4-week online research internship programme that connects you to mentors to train young professionals to build their profile for the 21st Century. Apply Now CEO featured in CEO Insights as Top Corporate Leaders in Mumbai When CEO Insights Magazines approached our CEO to be featured in their Top 10 Corporate Leaders in Mumbai 2024, we take deep honour in his vision in guiding Podar Eduspace to new heights. This interview discusses our vision – to give access to quality education and upskill India to reduce unemployability, and unlock the country’s youth potential. Read more to learn about our CEO's leadership hacks and how he managed to scale the company to where it is now, navigating through an ever-changing tech and entrepreneurial landscape. Guest speaker as Education Champion at MSME Forum It was a great opportunity to share the future of education and EdTech with different people in the MSME Space. 21st century learners have to find their edge and creating long term value for clients is the key to succeed in EdTech. Participated in Skilling Based Forum Talk at Raj Bhavan It was my utmost honour to represent Podar Eduspace as a leading education and skilling startup in a talk hosted at the Raj Bhavan and having the privilege of meeting the Education Minister of Maharashtra, along with the Sector Skill Council for People with Disabilities Signed an MOU with PRESPL Punjab Renewable Energy Systems Pvt. Ltd. is a premier skilling body and its our honour to be partnering with them to focus on skilling activities in the bioenergy sector across India. Skilling discussions with Invest Punjab It was an honour to meet Invest Punjab and discuss possible synergies in upskilling across Punjab. Meeting with President of India It was our greatest honour to meet with the President of India, Mrs. Droupadi Murmu to discuss future policies regarding EdTech and skilling of India. [PODCAST]: A Candid Conversation with Pooja Sedani It was an honour to be a part of a discussion with Ms. Pooja Sedani and discuss the latest developments in EdTech and the future of skilling. [BLOG] Negotiating across your career When you’re in college and just starting out on your career, questions of self-doubt can plague your mind. When you’re on the cusp of entering the real world, a key skill that not many discuss is the art of negotiation. Read more on EduSPACE: The Blog Podar Eduspace partners with National Skills Development Council Podar Eduspace has partnered with NSDC to bridge the gap between industry & colleges, and increase employment opportunities through their upskilling programs, the WorkEx Bootcamp Program and the 21st Century Digital Skills Bootcamp Programs. The students will have access to courses such as Business Analytics, Business Strategy and Data Science, Cryptocurrency, and Metaverse which are in collaboration with Harvard Business School Online as well as Podar Enterprises and will learn industry ready hard skills, soft skills, and digital skills. After a successful completion of Bootcamp, participants will receive 4 certificates, co-branded by NSDC and Podar Eduspace. Podar Eduspace launches skilling initiatives Through our skilling initiatives we aim to work with the Government of India and MNCs to provide skilling to urban and rural communities across India. Through this vision, we seek to work with Anandilal Podar Trust to contribute and give back to our nation. Our objective is to impact the lives of underprivileged youth by providing them skill, employment and livelihood. We have been implementing partners for large scale government projects including: PMKVY and RSLDC. We engage with corporate sector and PSU's as their preferred partner for implementing CSR Projects across pan-India. We work with marginalized youth, women, specially-abled, school & college drop-outs in both rural and urban India. Our industry-connected skilling model will create a visible impact on the lives of over a million uneducated & unemployed youth who enter the workforce each year. We also aspire to give back to society and contribute to India in becoming the Skill Capital of the World. We are working with the Sector Skill Council for People with Disabilities in states like Maharashtra and Rajasthan to train disabled candidates (hearing, sight and locomotive disabilities) and are employing them in various sectors like logistics, telecommunication, etc. CEO presents at the International Education Expo 2022 Vedant Podar, CEO, Podar Eduspace, was invited to speak at the International Education Expo 2022, A MSME DFO Mumbai Initiate under Ministry of MSME, Government of India Official. He spoke about the challenges faced by students under traditional education process and the gap between their knowledge/skill set and industry requirements and the need of upskilling and staying abreast with latest technologies and trends. He shared Podar Eduspace's vision of spreading 21st century skills with India and empower the students with new age skills, technologies and outlook for successful career. EduREPORT: NGOs in the Indian Landscape India as a country: Our eyes reach the stars, our feet are going down quicksand. With a robust state network system and a far-reaching executive, India is still not even close to even achieving universal access to basic services. This glaring gap is taken care of by the intricate NGO sector. Podar Eduspace launches EduREPORTS A programme where we publish the research reports created by the graduating cohorts of the WorkEx Bootcamp and independent research submitted from our community on diverse topics such as technology, social welfare, and more. Submit your today! EduSPACE: The Blog – Design Think(ing) to Innovate Design Thinking is about taking a human-centred approach to innovation that draws from a designers toolkit to integrate the needs of the consumer. Simply put, it is about thinking about a business problem with sensitivity, and not basing the innovation process solely on numbers, adding a touch of human intuition. Podar Eduspace launches EduSPACE: The Blog Explore the knowledge ecosystem and learn more: featuring articles on technology, business and more. Highlights & Latest Developments In collaboration with: Our Knowledge Ecosystem Our knowledge system Podar Skills Podar Skills is the newest addition to our list of courses. Pick up 13 certificates – 12 from Harvard Business Publishing and 1 Podar PRO certification to help you boost your profile with hard, soft and digital skills. Learn More Programmes and Initiatives Latest Launches in Podar Eduspace Skill Centre Collaborating with our sister organization, the Anandilal Podar Trust, to design programmes alongside the Government of India and MNCs to provide re-skilling and up-skilling services to urban and rural communities across India. Learn More Nandini Bansal, WorkEx Bootcamp Cohort 2 Member Master's at XXX University EduSpace Internships EduSpace Internships is a latest addition to our offerings. Apply for research internships in any field of your choice. Connect with industry professionals and take the first step to your dream university or career. Learn More Programmes & initiatives Testimonials Nandini Bansal, WorkEx Bootcamp September 2021 Batch, Fashion Institute Mumbai Nandini Bansal, WorkEx Bootcamp Cohort 2 Member Master's at XXX University Nischita Paderu, WorkEx Bootcamp September 2021 Batch, OP Jindal Global University "The student to faculty ratio was optimal, giving everyone in the cohort a perfect chance to participate in every session." Testimonial

Podar Conversations A flagship series of mentoring talks by Podar Eduspace, bringing together industry CEOs and veterans with decades of leadership experience. Follow our events calendar to join the next scheduled talk. You can listen to the previously held conversations in the video links provided below. March 2022 - Podar Conversations with Rakesh Wahi, Co-Founder of Forbes Africa Magazine and CNBC Africa In this conversation, Wahi talks on "Lessons on Entrepreneurship and Leadership: From a Soldier who Dared to Dream" through his business experiences all around the globe April 2022 - Podar Conversations with PD Singh, Managing Director and Head of Corporate Banking, J.P. Morgan In this conversation, P D Singh talks on "Lessons on Leadership and Banking" through his 25 years of experience in the Finance Industry

< Back NGOs in the Indian Landscape by Dodda Teja Adarsh India as a country: Our eyes reach the stars, our feet are going down quicksand. With a robust state network system and a far-reaching executive, India is still not even close to even achieving universal access to basic services. This glaring gap is taken care of by the intricate NGO sector. We will now explore deeply, the various aspects of this system that has developed over the years in India and how it is at the brink of exponential reform but at the same time struggling for revival and still reeling from the Covid-19 pandemic, while everyone still tries to imagine how India would have made it out of the crisis if not for these organizations. Are we about to bite the hand that fed us in the time of our need? HISTORY AND EVOLUTION The NGOs began in Gujrat in 1871 as the Bhil Seva Mandal. It began as a development movement for tribes. Following independence, Mahatma Gandhi sought to convert the Indian National Congress into a voluntary Public Service Organization, but his request was denied. Later, many service organizations based on Gandhian principles were founded by ardent Mahatma Gandhi supporters. Actually, there was a time when there were plenty in Gujarat and other parts of India as well. Seva, Eklavya, Disha, and others are among them. However, the actual registration of NGOs occurred only in the 1970s, and this surge in the numbers tells us a lot. The government readily accepted and encouraged NGOs. and the upsurge in their numbers. Post the independence period, there was a change in the perception of the government about the developmental activities and how they would be perceived and implemented by the government itself. Though in the 1950s in the 1960s it was assumed that the economic growth can only be achieved through state implementation of policies and poverty can be thus removed, this changed in the decades after that. Hello there were many welfare programs launched by the government to help the lowest of the poor communities and help them in participating in the various schemes that are aimed at improving the economic growth of the country there were many community development efforts launched by the ministries of agriculture and ministry of rural development 4 helping though public participate in these activities but the responsibility of launching and executing the social welfare programs was vested with the ministries of the state governments itself due to this, the NGOs were approached by the national government and its agencies to help in the execution and far reaching implications of these developmental and welfare programs of these communities especially in the rural areas. In its sixth Five-Year Plan, the Government of India coined the phrase "GARIBI HATAO." This had an underlying stress for the development of NGOs, and in the seventh five-year plan, they emphasised "Self-Reliance Communities" under rural development. The government has been promoting a national network of non- governmental organizations (NGOs) in the eighth Five-Year Plan. In the ninth Five- year Plan, the government encouraged PPP (Public Private Partnership), and by the tenth Five-year Plan, the government endorsed creating awareness among farmers about innovative farming methods and more initiatives to that end. Not only does the government encourage and promote these NGOs, but it also provides financial assistance to them. ROLE AND LEGALITY OF NGOS Numerous committees have indeed emphasised their significance in a variety of ways. In 1957, the Balwantry Mehta Committee emphasised the importance of non- governmental organizations (NGOs) in tribal developmental programs. Even in five- year plans, the need for and importance of NGOs was emphasised. Again, the 1966 Rural-Urban Relationship Committee also reaffirmed the role of non-governmental organizations (NGOs) in local government, development through community mobilization. Later, the Dhebar Commission expressed its concerns. Same belief that non-governmental organizations must work at all levels, involving all stakeholders i.e., people from the area. The government of India established another committee known as the Sivaram Committee for tribal community development who have identified the importance of NGOs in the executionary activities for welfare schemes. NGOs have traditionally played a significant role in this regard in terms of developmental activities. In the Indian Context, NGOs play a crucial role in many ways like: Acting as a societal social valve by organizing public inconvenience and grievances and advocating their problems at higher levels catering to their needs. They act as the voice of the poor and needy. They become a crucial part in the checks and balances system of the Indian state and improve government efficiency and performance by constant maintenance of accountability and public scrutiny. NGOs are also given power to make suggestions and improve the policy making and regulatory capacities by accepting an advisory role. NGOs take up the service-provider role in the society and become the first point of contact and a structured mechanism for the public, especially the disadvantaged communities, who are facing any socio-economic difficulties and lend a valuable helping hand and take part in conflict resolution and thereby cultivating a trust-based environment. They act as a very important catalyst in improving the participation in community activities and thereby bring up the voices and opinions, mainly the underprivileged sections, previously unheard of, especially in a wide and diverse country like India. One of the most significant roles played by an NGO is of empowering women. They have done the best work in improving gender equality and have made major strides in removing stereotypes and barriers faced by women for getting integrated into the monetary economy. These organizations play the most neglected role of ensuring the building of a sustainable environment around us. Since, no one is willing to compromise their present needs, they do the most necessary damage control and ensure that all the development that is being taken up here forth will be sustainable in nature. In India, and NGO can be formed under 3 aegis: As a Trust, which will act as a public charitable organization and governed by the Indian Trusts Act of 1882. A Public Charitable Trust has the entire society as its beneficiary and the assets of that trust must be used only for the welfare of the public at large. As a Society, which will be a voluntary body of large public participation and an elected governing body. It is mandated majorly by the Societies Act, 1860. It will consist of an MOA and regulatory bylaws and must inform the necessary authorities (The Registrar of Society in most cases) about any and all changes in their quorums. As a Section 8 Company, as a legal entity formed for the purpose of art, culture, charity or any other useful objects. It will be regulated by the Companies Act of 2013. It will be formed similarly to a Public Limited Co. or a Private Limited Co. and the MOA and AOA will act as the legal objects of the company. Other than this, trade unions and cooperative societies are also sometimes treated as NGOs. TYPES OF NGOS The various political developments like the rise in Marxist belief, the Naxalite movement the Lohiate and Gandhian influenced movements during the 1960s to the 1980s has caused the NGO sector to develop into two distinct types. These were basically developmental NGOs and empowerment-based NGOs. The developmental NGOs took up participatory and innovative approaches to work along the concrete sectoral activities that were in relevance to the various poverty groups in the rural areas of the country. While the empowerment NGOs have formed poverty groups across different communities these and help them in their efforts to address the very root causes of poverty such as the caste and class systems along with the lack of access to markets etc. As a result of these differentiations, there were 4 major types of NGOs that were formed by the late 1980s these are welfare NGOs, development NGOs, empowerment NGOs and social action groups. But the former both types of organizations entered into various collaborative practices with the government the other 2 frequently went against the policies and legislations and asked for reforms and amendments etc. Currently, we can identify 8 major types of NGOs: Operational NGOs These are grassroot level organizations working generally in a local or a single small project location focused on developments in that particular area of interest. These organizations are generally very small in size. They majorly consist of charity and welfare-based NGOs, development-based NGOs, and social action groups that are basically focused on mobilising the public of that local unit and empowering them to make use of the services in order to break the cycle of poverty. Ex: MANAVLOK, WOTR Support NGOs These are basically the group of organizations that provide various services today grassroot level organizations in order to strengthen and support the capacities of these organizations and expand them into a wider ambit and multiple locations. They work with a multitude of government bodies like the Panchayati Raj and district level cooperatives and administrative bodies and provide them with the physical and skill based infrastructural capabilities and also act as the public image of these NGOs by bringing out periodic information about the developments across the arena. Ex. SOSVA, SEARCH Network NGOs They are the umbrella organizations that are either formal associations or informal union of various grassroot level or support based NGOs woven into an intricate thread of support systems learning from and working with each other into developing the quality of the services that they are engaging in. They act as a forum for the improvement of the activities carried out by these NGOs and take part in lobbying and advocacy. Ex. FEVORD-K Funding NGOs The very basic activity of the creation of funding NGOs is to provide the financial resources that are required by the operational NGOs in their day-to- day activities. they are designed in such a way to attract financial resources either from Indian or foreign sources to a wide range of activities spread across multiple organizations and areas. Ex. Dorabji Tata Trust, Aga Khan Foundation Protection NGOs These are the organizations that engage in providing relief for disaster management purposes they are focused on the areas that have been the victims of any natural disasters recently and help the local in upgrading their life and quality by engaging in developmental activities to recover any property loss that has happened as a result of such disasters. Ex. Hind Rise, Rapid Response Prevention NGOs These types of organizations are created for the purpose of acting as a shield for the citizens and reducing their vulnerability and limit their exposure to fraudulent practices or companies and ensure safety for its consumers. Ex: Common Cause, VOICE Promotion NGOs This category of organizations has been made to help the developmental paradigm and increase the quality of life by providing better chances and opportunities for people facing degraded life conditions. They embark on this by acting to provide better education sanitation and health services etc. in underprivileged communities. Ex. Unnati, Steps Aid Transformation NGOs These organizations are basically the various pressure groups that are created to act as a representative body for various underprivileged communities in the political and economic arenas and help in the formulation and implementation of laws and policies in especially local governance structures. Ex. Janagraha MAJOR CONTRIBUTIONS NGOs in India take up various activities like advocacy and raising awareness by taking part in research and analysis and informing the public about the most prevalent issues, acting as a broker between governmental agencies and social groups, a conflict resolutory body, act as a capacity building agent by providing education and training programs, service delivery organizations for government schemes, and acting as a watchdog of the state. There are various organizations working in multiple sectors and contributing to change in the society like: Education With India spending just as much as 3% of its GDP on education despite the benchmark of 6% set in 1968, only increases the importance of NGOs working in this sector. There have been many organizations contributing hugely to the improvement of education and literacy in rural and urban poor areas. They work in different arenas like the K.C. Mahindra Trust working for improving education for girl child, Ibtada working for contemporary skill development- based education through provision of modern infrastructure like computers etc. or the Vidya Poshak who take orphaned children, educate them until they attain a job. Healthcare The huge gaps in the infrastructure on the Indian healthcare system were blatantly exposed by the Covid-19 pandemic, despite this, some organizations have worked tirelessly in improving the quality of healthcare received in India. Organizations like Doctors for You, reaching the most neglected and extremely poor areas and providing basic health facilities there, Swasth Foundation building a sustainable rural health ecosystem, CanKids KidsCan improving the lives of cancer afflicted kids. Environment Protection Sustainability is now a very looked after tool and grows in importance as climate change becomes a harsher reality every day, the Indian NGO sector has made significant changes in these perceptions of society and are working towards more increasing green practices. Few like the Mukti foundation working in the revival of the Sunderbans Forest, Environmentalist Foundation of India rejuvenating freshwater lakes and Janmitram Kalyan Samiti promoting solar fields. Human Trafficking Estimates say that every year, 16 million people, mostly women and children are victims of human trafficking in India and in most cases end up as sex workers with nowhere to go, there are many dedicated organization working towards improving and rehabilitating these victims. Some of these are Rescue foundation working to integrate victimized kids back into regular life, Prajwala running transition centers for women in prostitution and their children, Vipla working on getting women involved in prostitution employable through skill development. Mental Health With an abysmal mental health physician to person rate of 1-1,00,000; India needs a lot of progress done on the awareness of mental health. Some of them are Mindroot Foundation combating mental illnesses and substance abuse in rural children and LonePack removing stigma among students across India. CSR POLICY AND EFFECTS ON NGO SECTOR CSR (Corporate Social Responsibility) is becoming an increasingly important component of a company's overall strategy. Corporate social responsibility refers to a company's conformity with its social and environmental responsibilities. Under this philosophy, businesses choose to actively contribute to a healthier society and a peaceful world. Corporations use the concept "social and environmental responsibility" to identify their desire to incorporate social and environmental aspects into their organizational processes and stakeholder relationships. It is defined by its business practices and social investments. Businesses, according to the sustainability principle, should make their decisions based not only on profits and dividends, but also on current and long social and environmental consequences. CSR is an organization's duty on the effect of its actions and functions on society, the environment, as well as its own financial well-being, which is sometimes referred to as the TRIPLE BOTTOM LINE of people, planet, and profit. Charitable impulses in family businesses develop into long-term coordinated philanthropic activities, leading to the formation of corporate social responsibility. CSR involves every unit and staff, and each has a specific task to complete. CSR is also a company-wide initiative that encompasses manufacturing, distribution, and even marketing. Over the last four years, the Companies Act of 2013 has provided Corporate Sustainability in India a new outlook on life. Companies with a net worth of Rs 500 crores or more, income of Rs 1,000 crores or more, and a profit margin of Rs 5 crores or more are necessary to submit a minimum investment in corporate social responsibility in order to comply with the law. India is the first country to impose a cap on CSR spending. The Indian government has launched new CSR requirements that oblige businesses to promote a brighter future in order to promote a brighter future and to invest 2 percent of their net profit in social development. Until the 1990s, philanthropy was the dominant concept of corporate social responsibility (CSR). Companies that view CSR as a philanthropic act are more likely to make one-time financial gifts rather than investing in socially responsible ventures. Furthermore, when implementing such programs, companies failed to consider stakeholders, lowering the quality and effectiveness of their CSR efforts. However, social responsibility has evolved in recent years. Giving as a benevolent act or obligation appears to have given way to giving as a policy or liability. According to a review of case studies and CSR work done by Indian businesses, CSR in India is shifting away from charity and reliance and toward empowerment and partnership. The MCA's (Ministry of Corporate Affairs) CSR rules emphasize the role of an NGO as an implementation partner in corporate citizenship. Many organizations have made significant contributions to society with the help of the CSR funding that they have received. Given the change in the paradigm of thinking by companies, organizations working towards sustainable growth have been leading the change like SEEDS, acting on sustainable ecological growth in Asia. There are other organizations like Goonj working on improving the dignity of life in rural areas and Pratham working towards improving quality education through innovative teaching and learning methods. These types of organizations and many more have benefited heavily from the CSR funding they received and are promoting systemic change in society. DONATION CHANNELS AND EFFICIENCY Indian NGO system has been going through the problem of chronic underfunding and this acts as huge decelerator in the activities of these organizations thereby hampering the results that can be achieved from the programs that are carried out and severely affect the growth of the sector by causing systemic deprivation. Research has proven that the hugely inadequate funds cannot serve the true costs of the sector as a whole, mainly contributing to the subscale performance entirely. In majority of the cases, the funders just write programme centric cheques which cannot cover the indirect costs incurred by the organisation which are very critical for expansion and administrative purposes. A huge number of organizations have reported struggle for accruing indirect cost funding and named survival with less than 3 months of reserves, they are also majorly suffering from a no operating surplus from the past three years at least while majority are from the underprivileged groups like the Dalit, Bahujan, Adivasi communities etc. This is even more prevalent in the case of rural areas. A three-scale process of foundational capabilities i.e., strong roots with strategic planning and development of hierarchical leadership; financial resilience i.e., through accumulation of unrestricted reserves; and increasing impact i.e., a need to measure the reach, impact and effects of their programs. A few recommendations like the creation of multiyear NGO-Donor relationships, measures to close the indirect funding gap through clear communication and engagement, investment in organizational development, and building of financial reserves need to be taken up seriously. The contributions made to non-profits by international organizations has taken a serious hit following the implications of the FCRA amendments by over 30% and it is clear that a hole of that magnanimity cannot be filled anytime soon. The same trends can be observed in the case of donations by domestic corporations as well where the CSR is dropping by more than 5% given the pandemic-induced losses. The social sector spending in India has always been abysmal almost 5-6% of the GDP behind other BRICS countries. The ray of hope in this darkness is the case of family philanthropy which has not only stayed resilient through the pandemic but has also increased by almost 35% in size. The NGO sector needs to capitalize on this growth and induce a more people centric donation platforms. With the ever-growing wealth of family-owned businesses behind, who have an average net worth of 140 lakh crore, this is an opportunity waiting to be exploited. THE FCRA AND ITS IMPLICATIONS During the Emergency in 1976, the FCRA was enacted in response to concerns that foreign powers were interfering in Indian affairs by pouring money into the country via non - profit institutions. These concerns were, in fact, much older, having been raised in Parliament as early as 1969. The law sought to regulate foreign donations to individuals and organizations in order for them to operate "in a manner consistent with the values of a sovereign democratic republic." Under the UPA government, an amended FCRA was enacted in 2010 to "consolidate the law" on the use of foreign funds and "prohibit" their use for "any activities detrimental to national interest.". The current government changed the law again in 2020, giving the state tight control and oversight over the receipt and use of offshore funds by nongovernmental organizations. The Act was revised by receiving President's assent on September 29, 2020. These amendments place more personal accountability on NGOs in terms of forming partnerships, obtaining, and employing funds, especially from foreign entities. However, the government must monitor the situation of non-governmental organizations to prevent funds from being diverted to unlawful transactions. Sub- granting became illegal as a result of this. Subgranting occurs when a larger NGO transfers funds from international entities to smaller NGOs. Smaller non- governmental organizations (NGOs) cannot obtain funding from foreign donors. Life Education and Development Support (LEADS) in Jharkhand, for example, receives Rs. 8 lakhs per year from a Germany-based organization called "Bread for the World" to help strengthen the school system. LEADS manages this programme through four small non-governmental organizations (NGOs). Similarly, in Assam, an NGO called GVM receives funding from ActionAid and the National Foundation for India to work with Bhutanese Bodos. The administrative expenses cap had also been reduced from 50% to 20% of their foreign donations. The FCRA now, also makes it mandatory to obtain funds from the SBI branch in New India. The NGOs were required to submit an expense report every quarter. This amendment also prohibits Amnesty International and other civil society organizations from accepting foreign contributions to support other NGOs. The Ministry of Home has complete authority to revoke an NGO's FCRA certificate. Many civil societies, notably during the reign of Covid, challenged these amendments. The country's development sector may suffer as a result of the ban on sub-grants. The flow of foreign funds could be hampered. Furthermore, environmentalism, human rights, and civil liberties would be severely harmed. The ideals of these critical pillars of India's soft power would clash with the amendments. As a result, the International Commission of Jurists stated that this new was contrary to international obligations as well as its own constitutional rights. NGOS AS A FRONT Over the years and across governments, there have been many proven cases of NGOs being used as a formal figurehead to misappropriation of funds, especially for foreign origin and conduction of illegal activities. There are a plethora of organizations carrying out subversive activities and are started and managed by people with shady backgrounds, it scary to see how easy it is to open an NGO by individuals of questionable character to say the least. The front of the NGO also puts out a positive image which now becomes a double- edged sword. Many organizations have been accounted for numerous malfeasances like the Popular Front of India charged for the instigation of the Delhi Riots of 2020 and Anti-CAA protests and accused of money laundering through terrorist organizations. This can be observed in the UPA tenure as well where, London based NGOs were apparently found to be the roots of Bishop Yvon Ambrose run organizations who instigated the campaign to stall the Kudankulam Nuclear Power Project through foreign funding. There are many like these charged with FCRA violations because of causes of a wide range from diversion of funds to proselytism. However, this has effected very well reputed and strong organizations like Amnesty International who have taken a staunch stance against government authoritarianism and Commonwealth Human Rights Initiative with an Ex-Supreme Court Justice on their bench. In a country like India where despite its mammoth size, the state has not even come remotely close to reaching the far underdeveloped areas of the country, NGOs are a much-needed necessity. This was very clearly visible during the pandemic where these were the organizations who supported the travelling migrants on their devastating journeys home and scour for hospital beds and achieve plasma and oxygen when government hospitals were lacking them or no support for the last rites of the dead. A few bad steps don’t mean the leg needs to be cutoff, similarly this one-size-fits-all policy against the NGOs in the form of a witch hunt against NGOs and the FCRA amendments cannot and should not be the answer. CONCLUSION We have seen the various aspects of the delicate yet deep NGO system that has grown in our country for decades. Though not perfect, it is the only one that has survived the numerous and significant, glaringly hard problems that the society has thrown at it and continues to claim its effect in the various socio-economic, political, and civil changes that take place across every corner of the country. We have seen the strengths and weaknesses of the system that we now have and its more than obvious that it has pulled us off the cliff more times than we can count. It is now the time to support this network and rejuvenate it beyond its previous capacities and capabilities, give them a freer reign, increase investment and develop a tightknit, efficient and significant organizations which will ensure a safe and sustainable travel ahead in the developmental work of this country. BIBLIOGRAPHY Athulya. (2018). NGO Laws In India And Its Legal Compliance. Vakilsearch , https://vakilsearch.com/advice/indian-ngo-laws-and-legal-compliance/. Bindhu, D., & Panakaje, D. (2021). Role of NGOs in Implementation of CSR Activities in India. International Journal of Management, Technology and Social Sciences , 100108. Durgam, R. (2000). Non-Governmental Organisations (NGOs) in India: Opportunities and Challenges. Journal of Rural Development , 249-275. Fernandes, K., & Thacker, H. (2021). Top NGOs in India. The CSR Journal , https://thecsrjournal.in/top-ngos-in-india/. Hafeez, S. (2021). 10 NGOs revolutionsing healthcare in India. Give India , https://www.giveindia.org/blog/10-ngos-which-have-revolutionised-healthcare-inindia/. Hafeez, S. (2021). 10 NGOs tackling mental health issues. Give India , https://www.giveindia.org/blog/10-ngos-tackling-mental-health-issues-in-india/. Mehta, S. (2021). Why India needs stricter laws to regulate NGOs. Yahoo! Finance , https://ca.finance.yahoo.com/news/why-india-needs-stricter-laws-to-regulate-ng- os120326022.html. Seo. (2022). NGO Rules and Regulations in India. MUDS , https://muds.co.in/ngo-rules- andregulations- inindia/#:~:text=They%20must%20register%20with%20the,Such%20registration%20is %20not%20compulsory. Seth, A., Ayilavarapu, D., Pandit, R., & Sinha, M. M. (2021). India Philanthropy Report 2021. Bain & Compant | Dasra , https://www.dasra.org/assets/uploads/resources/Bain_Dasra_India_Philanthropy_Rep ort.pdf. Singh, G. (2021). Why is the government going afer NGOs? The New Indian Express , https://www.newindianexpress.com/opinions/columns/2021/sep/19/why-is- thegovernment-going-after-ngos-2360658.html. Srividya, D. N. (2021). ROLE OF NGO’S – AN OVERVIEW IN INDIAN PERSPECTIVE. Journal of Good Conscience , 1-9. Swamy, V. K. (2021). 10 NGOs rejuventaing education in India. Give India , https://www.giveindia.org/blog/top-10-education-ngos-rejuvenating-education-inindia/. Swamy, V. K. (2022). 10 indian NGOs working for environmental protection. Give India , https://www.giveindia.org/blog/top-10-indian-ngos-working-for- environmentalprotection/. Swamy, V. K. (2022). 10 NGOs working against Human Trafficking in India. Give India , https://www.giveindia.org/blog/10-ngos-working-against-human-trafficking-in-india/. Vanitha, K. (2022). An Overview of Roles and Functions of NGO in India. CorpBiz , https://corpbiz.io/learning/roles-and-functions-of-ngo- inindia/#What_are_the_Roles_of_NGO_in_Indian_Context. Venkatachalam, P., Yeh, D., Rastogi, S., Siddiqui, A., Manchanda, U., Gupta, K., & Thompson, R. (2021). Building Strong, Resilient NGOs in India: Time for new funding practices. The Bridgespan Group , https://www.bridgespan.org/bridgespan/Images/articles/building-strong-resilientngos- in-india/Building-Strong-Resilient-NGOs-in-India-Bridgespan-2021.pdf. Previous Next

< Back Nuclear Power: Boon or Bane by Janki Padia Several academicians believe that a mixed assortment of alternative energies will be needed if we are to replace fossil fuels and 1.5 degrees Celsius (2.7 degrees Fahrenheit) above preindustrial levels and to secure net-zero emissions by 2050. However, nuclear power is not an easy pill to swallow, not even in the progressive or climate circles. INTRODUCTION Nuclear power has been one of the most contentious issues in the environmental community. Today, nuclear power is at the forefront of energy policies for many countries once again as climate change only worsens. Several academicians believe that a mixed assortment of alternative energies will be needed if we are to replace fossil fuels and 1.5 degrees Celsius (2.7 degrees Fahrenheit) above preindustrial levels and to secure net-zero emissions by 2050 . However, nuclear power is not an easy pill to swallow, not even in the progressive or climate circles because firstly, the nuclear industry is a large orthodox industry with a stern hierarchy. They have been hawking massive plants worth billions of dollars whilst producing hazardous nuclear waste with a history of corruption, special pleading, etc – not an appealing investment pitch for any progressive. Secondly, it is the men, no, mansplaining men who have flocked the industry, the internet calls them “Nuclear bros.” Limited success is only met by nuclear bros to outdo the environmentalist; however, things are changing on the gender front as more and more women are coming into the field out of environmental concerns, one such all-female nuclear advocacy group is Good Energy Collective. Not only that but there has been a revival of debate, on whether or not that nuclear power is green energy as European Union declared nuclear power and natural gas to be green energy in February 2022. This inevitably also leads to the age-old question, is nuclear power a boon or bane? Before we come to any conclusions, we must explore the topic widely and thoroughly. ORIGIN and HISTORY Nuclear power came to the worldwide forefront after the nuclear bombing of Hiroshima and Nagasaki in World War II. The American government had launched the Manhattan Project, successfully creating the atomic bomb technology working on the principle of nuclear fission. In the post-war period, it was only military technology that was sorted by countries the world over, which led to information censorship and stern control over technology & materials. It was only after President Eisenhower’s 1953 speech, Atoms for Peace that the idea of nuclear energy for civilian usage began to diffuse worldwide. The famed idea whilst acting as the pioneer of several nuclear programmes in developing countries also created anxiety as misuse of such a technology could lead to devastating effects as it spread. However, the threat of nuclear proliferation in the post-war era was restrained, some would even say confined to only 9 countries, which had created nuclear weapons out of 30 countries, which had nuclear knowledge and working reactors. Nuclear energy gained the most attention as the alternative source of clean and secure means of energy as the climate crisis came to the forefront, which did not prove to aid the nuclear industry as it experienced stagnation since the 1980s, though recently there has been an uptake in the 21st century. International Atomic Energy Agency (IAEA) during the Cold War predicted the possibility of a nuclear renaissance hinged upon the non-OECD countries, which were likely to experience expansion in nuclear energy whilst the OECD (Organization for Economic Cooperation and Development) countries between 2003-2030 would see no nuclear energy growth. These predictions hardly materialized as, at the end of 1983, six developing countries (Yugoslavia, the Republic of Korea, Argentina, Pakistan, Brazil, and India), all members of IAEA had in total of thirteen nuclear power plants with a combined capacity of around 5100 MWe, accounting for less than 2% of developing countries' total electricity production. The Chernobyl disaster of 1968 as well as the Three Mile Island accident of 1979 only added to the stagnation but some believed that end of the nuclear era had arrived after the Fukushima nuclear accident in 2011. It had encouraged a speedy shut down of nuclear power plants in Taiwan and Western Europe, Germany and Belgium, and Italy (wherein the votes were crushingly against renewal and reconstruction of the nuclear sector). However, the truth of the matter remained that the Fukushima disaster did not alter paths for the nuclear energy field because few of these governments had already planned to phase out nuclear energy before the disaster, the catastrophic event only nudged them faster in the same direction. Parallelly, other countries that were planning expansion before the disaster, stayed committed to their decision according to reports provided by OECD and NEA (Nuclear Energy Agency). Another observation of the same event after the Fukushima disaster could be made, wherein the perception of nuclear power was likely to be changed and nuclear safety became the chief issue, costs would increase on security whilst more severe precautious were taken by the operators and engineers. Profits would decrease. Public most of all became the biggest skeptics of nuclear energy and it would be the most cumbersome task to garner public support for the same. In the meantime, through the economic lenses economic, even the Western countries could not afford to pour billions into nuclear power and technology due to level high public debt and so, stagnation and a slow downward spiral continued worldwide for years to come as more nuclear power plants started closing thereafter. Nuclear energy became one of the alternative clean energy once again as the climate crisis came to the forefront through COP26. Nuclear energy was predicted to be a major player in the initiative launched by the UN, the 24/7 Carbon-free Energy Compact. It led to various government commitments to expand nuclear power both at home and abroad. Yet, the nuclear industry did not bounce back and more nuclear power plants shut down in turn the reduced number of new nuclear plants did not produce the same amount of total output as the previous plant did. Despite some reactors curtailing generation to account for reduced demand or to offer load-following services, the global capacity factor in 2020 was still high at 80.3%, down from 83.1% in 2019, but maintaining the high performance seen over the last 20 years. Safety issues, environmental issues, and nuclear waste issues are core matters behind the shutdowns. In 2021, there were 10 shutdowns worldwide, of which three were in Germany and three in the UK. However, the clear boost to the nuclear industry was provided by the Russia – Ukraine war which has disrupted the energy market entirely. Whilst Germany has decided to fire back their coal power plants and boost the production of renewables, Belgium has decided to keep two of its nuclear plants open which were previously to be shuttered down. France proclaimed to build fourteen new reactors and even Japan after the Fukushima disaster has decided to kickstart their nuclear production due to the energy threat provided by the Russia-Ukraine war as well as the threat of blackout in Tokyo in the middle of the highest heat wave ever recorded in Japan after a strong earthquake this spring. Out of 60 reactors in Japan, 24 have been decommissioned and five are currently operating. Another five have been approved to restart but are suspended for routine checkups, and three are under construction. The rest have not been approved to restart. Meanwhile, in the US, the Biden administration is spending billions to subsidize existing plants, while states like New York and even California are looking to keep open plants that had been scheduled to close. With the energy threat presented by the Russia-Ukraine war and the worsening climate crisis, there is a renewed hope for nuclear power. Currently, there are six types of nuclear reactors used in nuclear power plants and they are: Fast Neutron Reactor (FNR), Gas Cooled Reactor (GCR), Boiling Water Reactors (BWR), Light Water Graphite Reactor (LWGR), Pressurized Water Reactors (PHWR), Light Water Reactor (PWR). Currently, three key strategies with intention of reducing costs and increasing sustainability and safety have been adopted as new theoretical and technological innovations made in the nuclear power field: Create new types of large LWRs - which are to be cheaper to build and operate whilst being safer. Areva with EPR designs and Westinghouse with AP1000 have taken these paths but have not been successful in their endeavors. Whilst simultaneously, several countries are trying to develop new types of “accident tolerant” fuels for LWRs, which would lessen the meltdown risk. However, data remains sparse, and early results have not been promising (Khatib-Rahbar et al. 2020) Small modular reactors (SMRs) –are small LWRs with capacities of 300Mwe or below. Small modular LWRs could be somewhat safer than large LWRs by virtue of their size and lower rate of heat production, but they would produce more expensive electricity without employing measures to significantly cut capital and operating costs per megawatt (Lyman 2013)viii . Reduced construction and financing costs act as an attractive feature to SMRs which could be manufactured in factories and installed in either group or singularly to meet the electricity demand. SMRs are still developing technology, such as that of the 77 MWe NuScale reactor. SMR designs though sporting new features are fundamentally modified LWRs. Non-Light-Water Reactor (NLWRs) – are reactors that are cooled by molten salts. liquid sodium and helium gas instead of water. This technology is pursued by start ups as well as established companies and could be built different range capacities of contemporary LWRs to micro-reactors of less than 10 MWe. To qualify as SMRs, the NLWRs must produce 300MWe or less. Various NLWR designers have put forward several designs, each claiming their designs to not only cut cost but also increase safety, decrease nuclear waste, reduce the risk of nuclear proliferation as well as efficient and resourceful use of uranium; such as the unsuccessful NLWR technology pursued by Transatomic. Apart from previously mentioned attractive aspects of the technology, they even promise features such as underground placement, modular structure as well as passive safety, some designs propose to have the capacity to deliver high-temperature process heat for manufacturing electricity. Whilst attractive, only a few NLWR developers have claimed that their designs not only would be demonstrated and licensed but also could be distributed and employed on a large scale in a decade or two. Thorium reactor technology is also being pursued by India, the Western start-ups, and China pledged $3.3bn in 2017. The carbon-free thorium-based reactor is supposed to be less dangerous with a lower risk of meltdowns and hard to weaponize. However, the journey of the reactor is uncertain because of the rise of quick and cheap renewables in comparison to the slow and costly road of the thorium reactor, whilst the unknown risk of environmental and health hazards loom overhead. CURRENT SCENARIO, MARKET SHARE, AND PIPELINE PROJECTS The Russia-Ukraine war has not only negatively impacted the climate crisis as well as energy markets. Whilst countries and companies push harder to counter these problems, the nuclear power firms are still clambering to live. Électricité de France, Europe's largest nuclear power operator is on the road to being nationalized by the French government. The debt-riddled EDF was suspended on 13th July with shares suspended at the price of 10.2250 euros on 12th July. Concrete plans as to how the nuclear power firm will be nationalized will be unveiled before markets open on the 19th of July, commented the fiancé ministry. The French government has taken these steps as, EDF has been grappling with extraordinary outages at its nuclear fleet, delays and cost overruns in building new reactors, and power tariff caps imposed by the government to shield French consumers from soaring electricity prices. The French government already has 86 percent of the stake in the company and it's likely to buy out the rest 16 percent by paying up to 10 billion euros according to Reuters sources by making a voluntary offer on the market than to push a nationalization bill through Parliament. The EDF purchase would also include convertible bonds and premiums offered to minority stakeholders. That would translate into a buyout price of close to 13 euros per share, a 30% premium to current market prices but still a big loss for long-term shareholders, as the group was listed in 2005 at a price of 33 euros per sharex . As Europe deals with the energy crisis, it makes the EDF nationalization important because it would allow the French government not only control over the nuclear plants around France but also, it can easily restructure the group to its whims and demands. The nuclear power firms in the United States of America have had rocky histories. The Westinghouse Electric Company, a nuclear designer company scrambled to finish its constructions whilst the FirstEnergy Solutions Corporation, a utility company competed against the cheap prices of renewables, both going bankrupt and only to emerge over the years. Even then FirstEnergy has been embroiled in several lawsuits, one wherein the company bribed several officials to gain application of Ohio House Bill 6, an energy policy with an overhaul value of approximately $1.3 billion, and secondly, another wherein the stockholders filed a suit against former executives for hurting the stock value. Westinghouse in contrast filed bankruptcy in 2017 and emerged out of it in August 2018, after it was sold to Brookfield Business Partners by Toshiba. Their ratings were lowered as Fitch Group, a credit rating firm commented, “ little demand for new nuclear power plants due to environmental risks, political/regulatory resistance, and lower priced natural gas .” However, those ratings have been improved as the same organization provides a positive outlook for the company as its derivation summary reads: WEC's ratings reflect its leading market position servicing the nuclear reactor market, strong technological capabilities, recurring demand-focused offering and prospects of improving profitability. These factors are weighed against its concentration in the nuclear energy market, which has faced secular challenges in core geographies and execution risks associated with its growth strategies. From a financial profile perspective, WEC's EBITDA margins are expected to exceed 20% and are relatively strong compared with 'B' category industrial issuers. Debt/EBITDA trending toward the low- to mid-4.0x range is consistent with the rating category. A deal has also been signed between Ukraine and Westinghouse to supply nuclear fuel to all the Ukraine nuclear power stations, whilst contracting them to build nine new nuclear units instead of five as well as an engineering center in the country. Westinghouse as July 15th stands at 24.81 CAD, which means 19.04 USD. Canadian Brookfield Asset Management, owns Westinghouse Electric Company through its subsidiary Brookfield Business Partners. The company bought Westinghouse at $4.6 billion in 2017 from Toshiba company, allowing Westinghouse to recover from status 11 or bankruptcy in 2018. Even though Westinghouse has been performing well, Litvak in Pittsburgh Post-Gazette reports that Brookfield Business is wanting to sell Westinghouse, Litvak’s piece, which quotes Cyrus Madon, Brookfield’s chief executive officer: “Look, we’ve made many times our investment in Westinghouse. We’ve already pulled out more than our invested capital just through regular dividends. And I would say our job is sort of done here. ” xiiIn 2021, whilst seeking out minority stakeholders, no sales were made. However, this year, they are wanting to sell the whole of the enterprise. The question remains as to why? The Russia-Ukraine war has already disrupted energy markets and nuclear energy has seen a surge in demand, is their wanting to sell Westinghouse out more than wanting to cash out at the right time? There are several newcomers in the nuclear industry such as Trasatomic Power founded in 2011, which shut down in 2018 after running out of funding and backtracking its bold molten salt reactor claims. They have open-sourced their research if anyone would further like to work on it. NuScale Power, a company designing SMRs is one of the most popular nuclear firms in the U.S currently. In 2020, 8 out of 36 public utilities backed out of the UAMPS deal to help build the plants, which would completion delay of three years and finish in 2030, with costs increasing to $6.1 billion from $4.2 billion. In May 2022, NuScale Power signed a merger with Spring Valley Acquisition Corporation and became the world’s first publicly traded company focused on the design and deployment of SMR technology and today said that development, together with the newly announced strategic shift, will "bolster and accelerate" commercialisation of its technology. The NuScale stock price as of 15th July stands at 10.45 USD. On 14th March, TerraPower was founded by Bill gates and privately owned. The firm is set to receive $.8.5 million in funding from the U.S. Department of Energy Advanced Research Project Agency – Energy (ARPA-E). The funding is part of the ARPA-E Optimizing Nuclear Waste and Advanced Reactor Disposal Systems (ONWARDS) program. Through the grant, TerraPower will research an experimental method for the recovery of uranium from used nuclear fuel with integrated safeguards that harness the volatility of chloride salts at high temperatures. On the Asian front, Toshiba was a techno giant as well as the crown jewel of the Japanese industry with Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) as its nuclear leg. However, the company lost face with its investors after a series of scandals and the misfortune of investment in Westinghouse, an American nuclear power firm. Then no more than three years, Toshiba was ousted from the top rank on Tokyo Stock Exchange. Mired in serious debt, the company was forced to sell off a valuable memory chip business and issue new shares to help pay down its liabilitiesxv. Effissimo (Singapore group) with ten percent of the company stake became the biggest stakeholder of Toshiba, becoming part of the foreign investors, who owned seventy-two percent of the company stake, unusual for a Japanese firm of high caliber. Toshiba of 2022, initially opposing buyout, now plans to solicit proposals from potential investors in a drastic change in stance. The nuclear unit, which is deemed important to Japan’s national security, could be the biggest obstacle to any deal. Meanwhile, Toshiba ESS with its American counterpart Toshiba TAES has signed a deal for equipment delivery with Bechtel Power Corporation, an American construction, and engineering company for building Poland’s first nuclear power plant. Toshiba ESS as of 15th July stands at 5,330 JPY, which means 38.48 USD. Nuclear power is promoted based on negligible greenhouse gas emissions, some experts believe that it should play a more important part in existing the use of fossil fuels. However, the problem at the heart of nuclear power lies according to Patrick Fragman, chief executive of Westinghouse Electric, “is a mix: It’s capital intensive but that doesn’t explain everything. The other side of the coin is the uncertainty .” He believes, unreliable and erratic political support along with fluctuating power cost does not make a fetching pitch. However, things are looking up for nuclear power as of now. Pipeline Projects: There is a surge in demand for nuclear power as nuclear power capacity increases worldwide. Presently, 440 nuclear reactors are running in 32 countries + Taiwan, providing 10 percent of world electricity (2553 TWh) in 2020. Fifty-five new reactors are under construction in 19 countries, the majority of these new plants are stationed in the United Arab Emirates, India, China, and Russia. Whilst new reactors are underway, some of the countries to be more cost-effective have upgraded their existing plants, hence, increasing their nuclear capacity. In the USA, the Nuclear Regulatory Commission has approved about 165 uprates totalling over 7500 MWe since 1977, a few of them 'extended uprates' of up to 20%. In Switzerland, all operating reactors have had uprates, increasing capacity by 13.4%. Spain has had a programme to add 810 MWe (11%) to its nuclear capacity through upgrading its nine reactors by up to 13%. Most of the increase is already in place. For instance, the Almarez nuclear plant was boosted by 7.4% at a cost of $50 million. Finland boosted the capacity of the original Olkiluoto plant by 29% to 1700 MWe. This plant started with two 660 MWe Swedish BWRs commissioned in 1978 and 1980. The Loviisa plant, with two VVER-440 reactors, has been uprated by 90 MWe (18%). Sweden's utilities have uprated three plants. The Ringhals plant was uprated by about 305 MWe over 2006-14. Oskarshamn 3 was uprated by 21% to 1450 MWe at a cost of €313 million. Forsmark 2 had a 120 MWe uprate (12%) to 2013. Apart from that, another method to be more cost-effective to increase the lifetime of a nuclear plant. The usual lifetime of a nominal nuclear plant lasts 25 to 40 years however, engineering examinations believe it several reactors can function for a long time about 40- 60 years. Hence, license renewals were accorded to 85 reactors by NRC. These licenses were only granted to reactors that had already served 30 years of their lifetime, warranting the renewal of worn-off equipment and outdated control systems. In France, there are rolling ten-year reviews of reactors. In 2009 the Nuclear Safety Authority (ASN) approved EDF's safety case for 40-year operation of its 900 MWe units, based on generic assessment of the 34 reactors. There are plans to take reactor lifetimes out to 60 years, involving substantial expenditure. The Russian government is extending the operating lifetimes of most of the country's reactors from their original 30 years, for 15 years, or for 30 years in the case of the newer VVER-1000 units, with significant upgrades. While some pieces of legislation have allowed nuclear power plants a longer life, some have allowed premature closure of nuclear power plants, in Europe, and Japan, especially in the USA, wherein reactor numbers have reduced to 93 from 110. COMPARING WITH OTHER ALTERNATIVE RENEWABLES Nuclear power is but one of the renewable power options for lower greenhouse emissions, other available sources of renewable energy would be: Solar – Photovoltaics (PV) and Solar Thermal The PV market is ninety percent dominated by Crystalline silicon solar cells. The top commercial PV solar cell tech is grounded in screen printing of the metallic contacts, attaining 14% to 20% efficiency. At the top price, the efficiency of 22% to 24% can be gained through the heterostructure with intrinsic thin layer silicon solar cells and interdigitated back contact. Theoretically, the maximum efficiency of a laboratory cell is 29%, however, in practical working, the efficiency ranges from 25% to 26%. Solar panels usually do not need much maintenance, however, if you see a deep in production of solar power, perhaps, it is time to clean the panels. It is recommended they are cleaned at least 2 to 4 times a year. If the solar panels are titled, the rainwater will clean away the dirt in monsoon, whilst in dry seasons a quick water down or wind blower blow would do. Usually, warranties do not cover the cleaning of solar panels but only replacement if they are damaged. Typically PV has a 25-year warranty and they can last up to 50 years if they are placed in dry locations. The prices of Solar PV are higher than the pre-pandemic level in 2022 and they shall remain so in 2023 as well due to elevate commodity and freight prices according to IEA’s report, Renewable Energy Market Update: Outlook for 2022 and 2023. The report adds, However, their competitiveness actually improves, due to much sharper increases in natural gas and coal pricesxx . India is one of the leading players in solar markets and the government in 2021 under AtmaNirbhar Bharat –Production Linked Incentive scheme (PLI), schemes to create manufacturing global champions for an AtmaNirbhar Bharat have been announced for 13 sectors including manufacturing of ‘High Efficiency Solar PV Modules’. The government has committed nearly Rs. 1.97 lakh crores, over 5 years starting FY 2021-22 including Rs. 4500 crore for ‘High Efficiency Solar PV Modules’ which will be will be implemented by Ministry of New & Renewable Energy (MNRE). This commitment would also cover research and development costs for solar power as well. Solar thermal Good building design, which allows the use of natural solar heat and light, together with good insulation, minimises the requirement for space heating. Solar water heaters are directly competitive with electricity or gas in many parts of the world.xxii Sunlight is concentrated onto the receiver by the arena of sun-tracking mirrors, the collected or resulting is heat then used to create which powers the turbine to produce and yield electricity . The commercially established methods of concentrating sunlight are line focus concentrators (troughs, both reflective and refractive) and central receivers (heliostats and power towers). The concentrator methods can be implemented on CPV systems. There is the possibility that it can create a round-the-clock power flow manufacture by storing heat at high temperatures in molten salt and creating thermochemical through concentrated sunlight. An identical amount of temperature as fossil and nuclear fuels can be realized by thermochemical or using mirrors. To keep them efficiently working, one must note that these concentrators must be placed in dry locations with low levels of diffuse radiation. Whilst solar thermal electricity is part of the analogous market as PV, this tech to acquire competitive costs must be used on a big scale which acts as a cost barrier as well as a financial risk factor. As of now, PV tech evolution as well deployment is a hundred times quicker than solar thermal and the future of solar thermal with thermal storage is uncertain whilst it competes with PV tech which comes along with load management and storage. The solar thermal plant must be serviced once a year for maintenance. As of 2022, USA is funding $25 million for innovative projects as part of research and development for solar thermal energy. Hydroelectric energy Sixteen percent of the world’s energy is created by hydroelectricity, one of the most advanced technologies. Generally, hydro involves construction of a dam on a river impounding a lake; construction of pipes or tunnels; and installation of an electrical turbine and power lines. Some hydro systems are ‘run-of-river’, which means that only small offtake weirs are needed. Hydro cites are most developed in already developed countries whilst developing countries may have opportunities but they are often hampered by stern and fierce socio-environmental moments on the accounts of widespread flooding of farmlands, cities, and delicate river valleys. The maintenance of hydroelectric power plant is divided in 3 check-ups: Hydropower system routine and non-routine service contracts, Hydropower system review and operational optimisation, Hydropower system upgrades and improvements xxv. As of 2022, USA has pledged no less than $47 million on hydropower and Indian hydro power giant NHPC has also been hiked investment to Rs 7,361.05 crore for 2022-23, from the revised estimate (RE) of Rs 6,772.21 crore for the ongoing fiscal. The budget estimate stood at Rs 8,057.44 crore . Geothermal and tidal Geothermal and tidal energy fall are regional energy resources and hence, cannot participate as a global resource. Geothermal energy is gained by the heat present beneath the earth. There are several ways to do it, steam can be harvested for direct use or to produce electricity. Another way is derived heat is from the hot rocks available on the surface of volcanic regions such as that Indonesia, Iceland, etc. Lastly, hot dry rock technology can be used in specifically correct geological regions, wherein masses of slightly radioactive rock buried kilometres below the surface become hot, allowing harvesting of heat at a temperature of around 300 degrees Celsius. Cold water is injected under pressure to fracture the rock, and allow steam to be extracted. This technology is not heavily used. Geothermal is low maintenance due to the fact that geothermal systems only have few movable parts which are sheltered inside a building, the life span of geothermal heat pump systems is relatively high . Heat pump pipes even have warranties of between 25 and 50 years, while the pump can usually last for at least 20 years . As of 2022, it is forecasted that the geothermal market would worth $7.1bn by 2030. Standard hydro tech is used to harvest energy from tidal flows. In a typical system, a weir is constructed across an estuary, and water flows through turbines as the tides rise and fall. It is uncommon to come across a site which not only affords large tidal ranges as well as a modest environmental impact. Inspection and maintenance are costly. As of 2022, USA has pledged $25m on tidal or wave energy research and development. Bio and ocean energy Bioenergy is biomass energy, wherein sunlight is turned into chemical energy. It cannot compete against PV and solar thermal energy. Bioenergy conversion efficiency is generally much less than 1 percent, while solar thermal and PV is 15–50 percent efficientxxx. Not only that but producing biomass needs vast lands, fertilizers, water, and pesticides. Biomass is an essential commercial energy contributor to small developing economies but it would play no large part in advanced economies because of its intrinsic production restrictions. Developing countries extensively use biomass energy for cooking or heating, however, there is a ready swap of biomass in exchange for electricity or gas when family income increases. The great flexibility of PV systems in terms of scale of deployment is likely to make a large impact in this respectxxxi . Biomass boilers are low maintenance and cleaned daily, should be kept ash free. Ocean energy comprises energy from waves, ocean currents, temperature gradients within the deep ocean, and gradients of salt concentrationxxxii. It is only with more advanced technology than the present time that wave energy can act as a substantial source of energy, however, even then exposure to a high level of seas as well as specific seafloor conditions are to be needed. Being more inherently limited due to its production needs, it can only become a minor energy source at a universal scale. Ocean thermal energy conversion application typically includes maintenance of machinery and removal of biological growth on submerged sections. The life cycle of a platform for this type of facility is straightforward and has well-established procedures. The ocean thermal energy conversion working fluid pumping systems are commercially available and have a relatively low cost, however, they require significant maintenance. Cable operation and maintenance includes periodic marine growth removal, full cable inspection, and annual maintenance of substations. Other maintenance costs include replacement parts, component design duty and known service intervals, time to complete service, cost of personnel, and material standby. Wind energy If put placed in a suitable place, Modern MW-scale wind generators are part of the cheapest electricity generation tech on market. A modern wind generator comprises a tower, a rotating nacelle atop the tower housing generator and control electronics, and three blades facing into the wind . Wind farm constitutes of hundreds of wind generators equally spaced apart at 5-10 rotor diameters. Usually, farming continues around the wind generators that are placed in the farmlands. Shallow offshore wind farms are expected to grow in large numbers in the future, because not only does it provides increased space but also wind speeds are usually higher over water. Wind and PV are often a good combination in that they counter-produce; it is often windy when not sunny, and vice versa . For the next many decades in numerous countries, it’s possible for PV and wind to highest deployment rates for electricity production, however, they are likely to meet with mechanical or technical and economic barriers. Commercial wind generators have power ratings of 1–8 MW. Vestas V164 as of now is the largest existing wind turbine with a capacity of 8MW with 220 meters maximum blad tip height and 164 rotor diameters. Tall towers in windy sites are preferred because higher average wind speed means a higher capacity factor, which in turn means lower energy cost. Offshore wind farms have a higher capacity due to speedy winds blowing over the water, hence, new bigger, and taller machines are replacing the initially installed small and now old machines. Wind electricity is now fully competitive with fossil and nuclear electricity in many places throughout the world (IRENA 2015). There are four types of maintenance for the wind farms and they are: Corrective Maintenance, Preventive Maintenance, Condition-Based Maintenance, Predictive Maintenance. As of 2022, USA has pledge $114m for wind energy. COMPARING WITH CONVENTIONAL FUEL Unlike conventional fuel (fossil fuels), nuclear power is harvest energy from an atom, either through nuclear fusion or fission. The electricity is produced, when the fuel has its atom split into one or more nuclei, releasing heat which is then used to boil a cooling agent, usually water. Steam or pressurized water then produced is used to spin turbines to create electricity. As of now, only nuclear fission reactors are working commercially to produce electricity, wherein they uranium as their chief fuel. If not for conventional fuels, petroleum, coal, and natural gas, the industrialization of modern economies would not have been possible. It is only in the recent past that energy alternatives have been embraced by governments worldwide and as a result, renewables and nuclear energy has boomed. Nuclear power commercially came into practice in the 1950s, and since then, it has been a source of contention for policymakers, citizens, scientists, etc. The question was asked then and it is asked even today, whether nuclear power is a safe sustainable source of energy? As of 2022, the EU has declared nuclear and natural gas to be “green energy,” however, this move has divided the EU into two camps pro-nuclear and anti nuclear with Austria and Luxembourg threatening legal action against the decision. However, the paradox of nuclear energy is not felt by the EU alone but the entire world and hence, it has become increasingly important to be informed about the advantages and disadvantages of nuclear energy before any decisions are taken by policymakers, politicians, and most importantly by citizens. Advantages: Carbon Free electricity – Nuclear energy does not produce green gases such as carbon dioxide, one of the major drivers of climate change. However, it does not mean that there is no pollution in process of gaining nuclear fuel (uranium) through mining, refining, etc. Not only that but it also creates the problem of nuclear waste. Small Land Footprint - Nuclear power plants need more space than other renewable options such as that wind and solar. According to the Department of Energy, a typical nuclear facility producing 1,000 megawatts (MW) of electricity takes up about one square mile of space , whilst solar PV takes up 75x and wind farms take 370x more space. High Power Output – Nuclear power plants have a higher capacity for energy production compared to renewables. The pro-nuclear camp promotes nuclear energy as a firm energy source providing “baseload electricity,” which means minimum amount of electric power needed to be supplied to the electrical grid at any given time . One must also note that the demand for power in the grid fluctuates. There is a murmur of nuclear power potentially becoming a baseload electricity supplier instead of coal power plants, especially in the USA as nuclear energy generated one of fifth the energy consumed in 2020. However, the question remains is it the only reliable source of baseload electricity? Renewables generated 20% percent of the USA's electricity and will produce 40% by 2050 according to EIA but it still cannot entirely decarbonize the grid by 2035 to stall climate change. Yet, hope for renewable supplying the baseload is on the horizon as the market for utility-scale battery storage is exploding; it increased by 214 percent in 2020, and the EIA predicts that battery capacity will surge from its current 1,600 megawatts to 10,700 by 2023. Whilst nuclear has a reduced carbon footprint than renewables, some consider the by products of nuclear power too high a price to pay. We must also note that whilst the carbon footprint of nuclear energy is lower than any renewables and if we increase the nuclear power plant numbers by threefold, it would result in a modest 6% carbon reduction. Meanwhile, the boost and consumption of renewables such as solar will surpass the mere 6%. Herein, the future is more important than the present because we need a quick rate of carbon reduction which can only be solved by renewables as they are easily available, cheap, and flexible. With increased consumption of renewables, they are likely to more suited to carbon mitigation than nuclear power plants, which are slow, risky, and expensive endeavors. d. Reliable Energy Source – the availability and perpetual generation of energy certainly make nuclear an attractive option to be a reliable supplier of baseload electricity to the grid. It also provides maximum output energy (93%), higher than any other fuel. Disadvantages: Uranium is a non-renewable resource – the nuclear fission reactors chiefly use uranium as their fuel, however, uranium core is a limited resource. Based on the known mining reserves of uranium there is about 200 years of uranium, if we consume it at the current rate. Even so, the number of reactors being built is increasing, hence the speedy depletion of uranium. Not only but uranium mining and processing contribute to climate change. The pro-nuclear energy camp in their idealistic belief always points out the factor of undiscovered uranium, which is a gamble too risky. They also speak of the 5000-year worth of uranium buried beneath the ocean, a mere concentration of 3.3 parts per billion. The energy it takes to lift a bucket of seawater by 50 metres is equal to the energy you'd get from its uranium. The energy return on investment simply doesn't add up. Another suggestion is a technological upgrade lifetime of fuel, a promise of breeder style Generation, allowing the fuel to last sixty years. Such pieces of machinery would be impressive, and so would be the advanced materials in them but the same aspect can create a problem because we do not have fixes to all the issues an advanced material. Higher upfront costs – Building a nuclear power plant is an expensive endeavor but operating one is a low cost. The nuclear power plant needs several safety measures, not only for the reactor but the building, and people themselves, hence, the costs increase. On top of that is the cost of acquiring the fuel, which involves mining, processing, transporting, and then burning it, not to mention then deal with nuclear waste. When the fuel cycle ends, the nuclear power plants are decommissioned at a costly prove. For example, UK nuclear power stations’ decommissioning cost soars to £23.5bn in 2022. Nuclear Waste – Nuclear power plants globally produce about 10,000 tonnes of spent fuel waste per annum. When a spent fuel rod is removed from a reactor, the radiation level is so high that a one-minute dose at a metre's distance is lethal to humans . The used rods are hot and they need to be cooled, hence, they are placed into the water pool for 5-10 years and when the space in the pool runs out, they are transferred into dry casks, a thousand-tonne container. An expensive robot arm is used to transfer the rod from the fuel or water pool into a dry cask, which costs $ 1 million each, and another $50, 000 is spent on filling the cask with helium and welding it shut. The dry casks can rest on the ground for the next 50 years to cool down before they are placed into a deep expensive underground depositary but no country has ever been able to succeed to create one, even USA. They had decided to store all their nuclear waste in the desert region of Nevada with all the safety measures but the state voted against it and the depositary never came to be. Dry casks are too overly reliant because there is always a possibility of leak or corrosion and replacement casks are simply added expense. The underground depository is also preferred because some of the isotopes remaining in the casks have a lifetime of ten thousand years and so, they must be stored safely but the transfer of rods from dry casks into a special depository canister is an extremely pricey affair of $50 billion (which includes the price of special canister and repackaging equipment). After the special canisters are stored underground, bentonite clay is used to delay the penetration of water and moisture. Even then, their safety is not guaranteed because canisters over time crack and this process can be accelerated by the isotopes presented within the canister and externally by the natural bacteria. Once there is a leak, radioactive iodine-129 isotopes from the fuel can diffuse through rock. Radioactive actinides from the spent fuel are released into the biosphere through the water. If the depository for any reason is flooded and the canisters are broken, several chemical reactions will transpire, counting the volatile blends of oxygen and hydrogen. There are murmurs of recycling the waste and using reactors, however, that too will be a costly affair, with other millions spent. Malfunctions can be disastrous – Nuclear meltdowns occur when the heat transferred to cooling systems is lower than the heat produced by the reactor, which causes a meltdown. Hot radioactive vapors can pour out of the reactor and meltdown or explode the entire power plant whilst spewing injurious radioactive material into the vicinity. The worst nuclear disasters ever to be recorded are Chernobyl, Three Mile Island, and Fukushima. IN-DEPTH ANALYSIS OF ASSOCIATED RISKS The nuclear accident at Fukushima and Chernobyl as well as Three Mile Accident remain fresh in the public memory. Before we invest in nuclear energy, we must thoroughly know the risks. Some of them are: Safety Questions The public perception of nuclear power in terms of safety has always been a major obstacle, one of the chief reasons why so many nuclear power plants are shutting down and several governments have decided on the phase-out policy for nuclear power plants. However, the truth is that nuclear power is much safer than fossil fuels. Indeed, coal and oil act as ‘ invisible killers ’ and are responsible for 1 in 5 deaths worldwide . In 2018 alone, fossil fuels killed 8.7 million people globally. The public apprehension is caused by only three nuclear accidents: the 1986 Chernobyl disaster, the 1979 Three Mile Island Accident, and the 2011 Fukushima disaster, and it was only the Chernobyl disaster that caused any direct deaths. Technological evolution in the nuclear field has made new reactors much safer, especially in the case of reactors with passive safety features. These features automatically deploy safety protocols if there is any danger, not needing any personnel to do so. Today’s new-generation reactors are already ten times safer than the previous generation of reactors, as addressed in the referenced Center on Global Energy Policy study on advanced reactor design. Even beyond reactor design itself, nuclear fuel is increasingly safe, with material improvements that reduce the risk and potential severity of accidents. Not only but nuclear safety has almost become a culture that is regulated by the IAEA, which has published 128 documents regarding nuclear safety and cratering to safety concerns of various types of power plants. These safety standards and protocols are revised with time and evolving technology. They even work closely with the government, other organizations, and programmes that need technical aid in the nuclear field. The Convention on Nuclear Safety (1994) is considered to be the principal international nuclear safety agreement, ratified by eighty countries. The World Association of Nuclear Operators and the Institute of Nuclear Power Operations are organizations established by nuclear companies to share information and techniques in the nuclear industry. All the promises still raise eyebrows around the world as Iran and North Korea are not parties to the Convention of Nuclear Safety, whilst still running nuclear programmes. The Iranian Bushehr Nuclear Power Plant is sitting in a high seismic zone, which potentially puts not only the country itself but other West Asian countries at risk. It was in 2015 that the Joint Comprehensive Plan of Action (JCPOA) or Iran deal was reached between P5+EU and Iran, establishing that the Iranian nuclear programme is solely peaceful. It also includes Iran working closely with IAEA and EU on front of safety standards and concerns. IAEA as an international regulator of nuclear programmes has also helped grow and sustain independent regulators in domestic industries to implement safety standards. Waste Nuclear waste remains the unsolved obstacle to nuclear power, especially when it is coupled with the safety issue. However, the issue is not only technical but more political in nature if given second a glance. Proliferation is one highest risks when it comes to reprocessing nuclear waste, not only that but the question of storage comes in and it is then that the issue becomes more difficult. The spent nuclear fuel has long lived hazardous substances such as plutonium, which increase the risk of nuclear hazards, even if they are to be stored in the nuclear repository, which is hard to come by in the first place. It is here that the issue turns political because no territory wants to become a nuclear waste dumping ground, it has been seen in the case of Yucca Mountain, USA . After billions were spent to develop and prepare a site to house spent nuclear fuel, the facility was scrapped in 2009 due to policy – and, according to some, political – concerns with the plan in Nevada . Viewing from the lenses of technology, there are only two viable options when it comes to nuclear waste: new advanced reactors are built to burn the entire element in the reactor, leaving no waste, or build reprocessing technology with deployment for spent fuel to harness useful substances such plutonium or uranium. Today, there is a surge in the number of nuclear power plants, bringing along the issue of proliferation and the high potential of nuclear disaster. Technical solutions then become vital to the nuclear industry, otherwise, nuclear waste management will forever remain politically charged even when it is a much safer source of energy than fossil fuels. One of the political solutions was the deal reached between Russia and Iran, wherein Iran sent spent fuel to Russia for reprocessing. However, such agreements are always changing with times and leaders in power, hence, a much more domestic and long-termed sustainable tactic is welcomed. Nuclear proliferation can also be considered a risk to energy technology because for any new reactor or reprocessing design to be viable politically, it must demonstrate that the risk of contributing to future proliferation is less than whatever system it is replacing. However, the non-proliferation remains strong, when it comes to new reactors. Nuclear Proliferation The nuclear proliferation of not just a technological issue as already established but also a deeply political one. Nuclear proliferation especially becomes a risk in terms of nuclear weapons programme such as that of North Korea as well as Iran (even after the JCPOA). The diffusion of nuclear technology also brings to the forefront, the issue of the advent of 3D printing (which can create nuclear pertinent gears without worrying about a transparent supply chain) and internet accessibility of explicit technical data. Initially, regional security in terms of the nuclear programme was not an issue because, before the 2000s, not all countries could afford nuclear weapons to compete with their nuclear-armed neighbor as they did not have adequate tech or the resources. However, there are exceptions to be made such as China in the 1960s, India and Pakistan in the 1970s and 1980s, and Iran and North Korea in the 1980s and 1990s, who were prepared to take a needed gamble to make a much-required investment for their strategic motivation. However, this momentum lost support with the Non Proliferation Treaty, which today has 191 signatories and acts as the cornerstone of nuclear non-proliferation, seeking nuclear disarmament. However, heightened regional tensions have recently had several countries reconsider the status of their non-nuclear weapons. Ukraine war has revived the nuclear question in South Korea as well as Japan. South Korea already troubled with North Korea’s increasing arsenal is worried that nuclear-armed North Korea would get away with a lot in a war scenario as nuclear-armed Russia has with unarmed Ukraine due to the fear of nuclear war. In one recent survey of South Koreans, 71 percent of the respondents supported arming the country with nuclear weapons, according to a research paper published in February by the Carnegie Endowment and the Chicago Council on Global Affairs. Even the former Japanese PM had begun saying loudly and publicly that Japan should, indeed, think seriously and urgently about nuclear weapons , when Ukraine was invaded. Looking through regional security lenses, he makes an essential of Japan surrounded by nuclear-armed North Korea and China (which are becoming increasingly aggressive). Mr. Abe’s nuclear policy was not to build Japanese nuclear weapons but to borrow US nuclear weapons on Japanese soil as do many countries such as the Netherlands, Belgium, Italy, etc. Non-proliferation also acts as foreign policy, especially when states engage in nuclear trade. Nonproliferation standards were adopted as conditions for nuclear trade by the USA and even Japan as it engaged with India for nuclear cooperation in 2016. However, this is not a standard policy for all states as Russia exported its reactors to Iran and China too built reactors in Pakistan. Coming to the technical part of the proliferation, in the past, national industry and sophisticated procurement networks were necessary to facilitate proliferation, but future proliferators might need far less infrastructure and support, reducing their detection risk and identification profilesliii. There is a real risk of unobserved proliferation due to the extensive availability of mechanical or technical data on complex nuclear processes and state capacity to create their own gears to evade limitations set by the international export. This risk pushes countries to secrecy as well as sets limitations on nuclear commerce. IAEA and NSG are a few organizations striving to better nuclear safeguards, security, and export controls. Perhaps, the evolution of tech and reactor design in itself could lessen the proliferation risk. The potential and value of nuclear power for energy production, climate change management, and contributions to a reliable alternative to existing sources are real but, clearly, so are the challenges. ENVIRONMENTAL AND SUSTAINABILITY CONCERNS Environmental Concerns Radioactivity is the core of the environmental concerns when it comes to nuclear power as it not only affects the large vicinity of the area but also takes a long time to retreat if it ever does. Stern regulations implemented on the civil nuclear power plants, only small limited exposure of iodized radiation to be emitted into the atmosphere as part of natural background radiation. Apart from that uranium mining, nuclear waste, and climate change are at the center of environmental concerns. Uranium mining (3 ways): Underground mining – wherein there is workers are exposed to extreme or high levels of colorless, odorless radioactive radon gas. The gas is forged through the natural breakdown of uranium into water, soil, and rocks. It only increases the risk of lung cancer among the uranium miners but also pneumoconiosis in case of cave-ins. Open pit mining – as the name suggests, it’s a pit that is created on the surface of the terrain by blasting 30 times more earth or there is the removal of rock, soil, and trees from the terrain with help of industrial equipment. The mining leave behind the waste rock, which is stored by the mine and is radioactive and toxic in nature. The exposure of the rock may also cause hazards by polluting air or water, not only that but the removal of the top surface from the terrain leaves the area suspectable to erosion as well as landslides. ISL mining – herein, a uranium dissolving liquid is pumped underground to uranium ore, only to channel the liquid uranium mineral to the surface. It is the most popular mining technique and has chief operations in Texas, Wyoming, and Nebraska. It releases a high amount of radon gas and creates wastewater and slurries for the recovery of uranium from the liquid which is pumped back to the surface. The gravest concern is the restoration of natural groundwater, which is leached away as the project commences. All the attempts of restoration have failed as it's virtually impossible to do so. Uranium mining dropped after the 1980s in the USA but its effects still linger. The case of environmental injustice is made by the thousands of abandoned uranium mines littered around in the southwest of the country, for example, several mines present in Navajo Nation by the Grand Canyon National Park. These mines act as a health threat to the Colorado River ecosystem as several communities in the vicinity are already suffering from environmental contamination. Noticeable symptoms are under-addressed cancer and disease clusters, and toxic spills. Nuclear Waste: More than quarter million metric tons of highly radioactive waste sits in storage near nuclear power plants and weapons production facilities worldwide, with over 90,00 metric tons in the US alone. It is not only a notorious safety risk but also an environmental risk. Nuclear waste can be categorized as: Low-level waste (LLW) –is all the items that are exposed and contaminated by neutron radiation. Starting from shipment containers and clothes, bags, etc of the NNP worker along with everything used in clean-up of the nuclear waste. Usually contains only one percent of the radioactivity in nuclear waste and is sent to land-based disposal. High-level waste (HLW) - is the waste found in the pools of nuclear power plants. After they are sufficiently cooled for a few years, they are stored in dry casks for further cooling and then transferred to special canisters to be placed into the underground repository. Intermediate level waste (ILW) –are long-living radioisotopes that are stored and then transferred to a geological repository. Defense-related waste in the USA is similar to ILW and they store it in New Mexico's deep geological repository of Waste Isolation Pilot Plant. Spent nuclear fuel –is used fuel from the reactors which are no longer functioning . “It is both deadly and long-lasting,” says Geoffrey Fettus, a senior attorney at NRDC and director of NRDC’s nuclear team.lvi “It remains dangerous to people’s health and the environment for millennia.” Even a U.S. federal court described the time frame as “seemingly beyond human comprehension. For example, iodine-129…has a half-life of 17 million years.lvii” Previously the spent nuclear fuel would only be considered waste but with the evolution of technology, the spent fuel can be reprocessed to option materials such as leftover uranium, plutonium, etc. Lowering the age of the spent fuel by a hundred or more years. However, reprocessing spent fuel remains a costly affair and any accident occurring through the process may cause health as well as an environmental hazard. Climate Change: Like any other plants, nuclear plants are susceptible and vulnerable to climate change. The fluctuation in temperature of air and water, increases in sea levels, wind speed and pattern, etc can affect the efficiency of nuclear reactors or plants. Not only can it cause operators to shut down or cut back generators but also increase environmental and safety risks along with the cost of nuclear power. An increase in water temperature can heat the cooling water which is needed to cool and ensure the safety of spent fuel, etc. the nuclear power plant. River water is used as cooling water in inland reactors, however, due to the rising temperature of waters along with heatwaves, several nuclear power plants have either temporarily shut down or cut back the generation. The cooling water is released back into rivers; however, nuclear power plants have fixed temperatures for the water which is to be released back into the river. With warm water entering the nuclear power, even warmer water is being released back into rivers as several power plants, such as Turkey Point and Millstone Plant have asked NRC to increase the temperature limit of water that is to be released into the environment. The released warmer waters are hazardous to the ecosystem. Flooding and hurricane have extensively damaged nuclear power plants in the past and they continue to do, they even pose a risk by cutting access to much-needed cooling water. Whilst the Fukushima disaster of 2011 is one example of flooding, the NRC has concluded that 55 of the 61 evaluated U.S. nuclear sites face flooding hazards beyond what they were designed to withstand (yet it has failed to require updates based on that information). Even the storage of nuclear waste in decommissioned plants is threatened by climate change through flooding, earthquake, etc causing a health and environmental disasters. Sustainability Concerns Nuclear power has been labeled as a “green source” of energy by the EU as of 2022. Compared to conventional fuels, nuclear power provides several advantages such as low life cycle GHG emissions, energy security during periods of price volatility, stable and predictable generation costs, previous internalization of most externalities, small and managed waste volumes, productive use of a resource with no competing uses, firm base load electricity supplies, and synergies with intermittent energy sources . Another label given to nuclear power is that of “weak sustainability” because it is not sustainable by itself but aided by manmade machines such as fuel cycles, advanced reactors, etc and also. While advantageous, the nuclear area has several areas to improve and those are: lowering the construction costs, achieving public acceptance, disposing of nuclear waste, the risk of nuclear weapons proliferation, nuclear fuel cycle, etc. Some fear the nuclear industry will fade away if there are no further breakthroughs and innovations in tech. Not only that but even the public and governments must be actively engaged in the field. As of 2022, USA in an effort to stave off more closures, the federal government began subsidizing older nuclear plants, opening up a $6 billion fund authorized in 2021's Infrastructure Investment and Jobs Act this year. That law also set aside an additional $2.477 billion for the research and development of advanced nuclear reactor technology. Sustainability as the Department of Energy (USA) puts it “extend natural resource utilization” and “reduce the burden of nuclear waste for future generationslxi.” We are looking for long-term energy solutions, long term nuclear sustainability is advised as well as needed. This can be achieved in two ways: Use natural uranium more efficiently than LWRs: It would be remarkable if we could produce the same amount of energy from reduced usage in advanced nuclear reactors, it would help conserve uranium. The radioactive resource is by no means renewable or infinite but it is not going out of supply anytime soon and hence, there is less motivation in the nuclear industry to craft such generators. The latest assessment of resources by the Nuclear Energy Agency and the International Atomic Energy Agency in 2020 found that identified recoverable uranium resources would be sufficient to fuel the global nuclear reactor fleet for more than 135 years at the 2019 rate of consumption (just under 400 gigawatts of electricity) (NEA 2020). Better recovery methods could make available up an additional 40 years’ worth of consumption. In the worst-case scenario, even if we do run out of surface uranium, there is a large amount of low-concentration uranium present in the ocean. However, this scenario then pushes for uranium efficient generators and increased prices of uranium. Uranium mining is another issue that must be dealt with because not only does it causes health hazards but environmental too. There is a need to explore more modern and effective uranium mining and processing techniques (many not entirely harmless) and they must be regulated with stern measures and supervision. Uranium efficient reactors would not only conserve the uranium resource but also aid reduces environmental and health hazards by dipping the necessity for mining. Even if it is possible, we must then deal with the environmental risks that the fuel cycles of uranium efficient reactors pose. Increasing uranium efficiency usually entails reprocessing spent fuel, which generates a number of different radioactive waste streams and emits radioactive gases into the atmosphere—many with wide-reaching health and environmental impacts themselves. To capitalize on the natural uranium utilization, NLWRs must be able to effectively use depleted uranium (remaining material generated through the enrichment process) as fuel. Depleted uranium has a U-235 content of 0.3 percent or belowlxiv. Current LWRs are fuelled by enriched uranium, which is only a minor portion extracted from natural uranium whilst the leftover uranium or depleted uranium is called “tails;” which is nothing but nuclear waste stored in the repository. As of 2020, the production of one year’s supply of enriched uranium for a typical LWR—20 metric tons—generates about 180 metric tons of depleted uraniumlxv . This leftover material is gathered as nuclear waste because there is not enough capital in the market to re enrich as fuel for LWRs. The DOE now holds more than 500,000 metric tons of uranium tails in the form of uranium hexafluoride gas, requiring hundreds of football fields’ worth of storage space as of 2020lxvi . Though “tails” is less radioactive, they would in long run needed to be deposited in a geologic repository. b. Generate less waste requiring long-term disposal or use of reprocessed or “recycled” material from the spent fuel. Long-lived isotopes make up the part of spent fuel produced by the LWRs and they must be isolated from the environment for thousands of years to avoid health or environmental hazard; the only way to do so is to store the waste in a geological repository. The issue with a deep geological repository is that no territory wants to become a dumping ground for nuclear waste and hence, no countries have been able to make progress in this direction except for Finland (whose reserves of nuclear waste are lower as it a small country). The spent fuel or radioactive waste is produced by all reactors and fuel cycles and they must be disposed in a safe geological repository. It is a cumbersome process to establish a geological repository as it is littered with several technical trials and political complications. However, some pro-nuclear advocates of reprocessing reason that, geologic disposal space will be scarce and valuable in the future and must be conserved by reducing nuclear waste volume . New generations of reactors can contribute to the nuclear waste and storage issue by producing less nuclear waste than LWRs, whilst producing the same amount of electricity. It would even be more impressive if the new reactors could proficiently use actinides extracted from existing LWR waste as new fuel , in other terms, it is falsely worded as “burning” of nuclear waste, this would not only reduce the current stockpile of nuclear waste but also conserve space in the repository. Forecasts Today the world is going through not only an energy crisis but a climate crisis as well and nuclear energy can lend help in both arenas. Governments worldwide have increasingly become aware and pushing for reliable alternative sources of energy in hopes of reducing dependence on imported fossil fuels. They are also trying to achieve their goal of zero greenhouse emissions by 2050. Nuclear energy, with its 413 gigawatts (GW) of capacity operating in 32 countries, contributes to both goals by avoiding 1.5 gigatonnes (Gt) of global emissions and 180 billion cubic metres (bcm) of global gas demand a year. While wind and solar PV are expected to lead the push to replace fossil fuels, they need to be complemented by dispatchable resources. Nuclear power is still developing but has huge potential along with deployment or shipment feature, allowing to help create diverse low emissions electricity systems in countries which does allow nuclear power. Advanced economies have lost market leadership - Whilst seventy percent of universal nuclear capacity belongs to the advanced economies, the domestic markets are not doing well. There is a lack of investment, the projects underway are already behind the schedule with increasing costs that are way beyond the budget. As a result, the project pipelines and preferred designs have shifted. Of the 31 reactors that began construction since the beginning of 2017, all but 4 are of Russian or Chinese design. In May 2022, the Palisades nuclear power plant in Michigan shut down as planned. This retirement of 769 megawatts (MW) of capacity contributes to our expected slight reduction in U.S. nuclear generation in 2022. Two new reactors at the Vogtle plant in Georgia are scheduled to come online in 2023, adding 2.2 GW of nuclear power to the system. We expect the nuclear share of total generation to be 19% in 2022 and 2023, about the same share as last year. Safety and waste concern still has few countries wary of nuclear power and hence, still is banned - Chernobyl in Ukraine (1986) and then Fukushima-Daiichi plant in Japan (2011) still have public suspicious of nuclear power plants. The bans and phase out plans of nuclear power are due to fear of another accident but this time, it is in their backyard. Whilst advancement has been made in the disposal of nuclear waste, only three countries in the world have approved sites for deep geological repositories for nuclear waste, however, not all these sites are in function. Hence, we can see once again how big a challenge it has been and will continue to be so to gain public support and political support. There is the possibility of a nuclear comeback as more policies have become nuclear friendly - Pledges of net zero greenhouse emissions were made by seventy countries, who altogether contribute about seventy-five percent of energy-related GHG emissions. Renewables are being boosted to the frontline as they are the largest source of low emission electricity, especially by the countries which do not use nuclear energy and nor do they have any plans underway to do so in the future. However, other countries such UK, France, China, Poland, and India have not only invested in nuclear power but also proclaimed it will play an important role in their energy strategies. The USA unlike others is investing in advanced reactor designs, especially, SMRs. The entire energy markets have been disrupted due to the Russia-Ukraine war, seeing a spike in energy prices worldwide. The war not only highlighted the unreliability of imported fossil fuels for domestic energy but also, how governments need diverse domestic energy sources. Hence, the UK plans for eight nuclear reactors whilst Korea and Belgium have postponed shutting down their nuclear power plants. Not only that but after obtaining safety approvals, Japan is planning to restart its nuclear power plants, which allows LNG resources to be shipped off to distressed Europe and the rest of the Asian markets. Nuclear power can have revival if only government interferes through policy support and tight controls. Trend Drivers Economics – The Russian invasion of Ukraine has disrupted energy markets and spiked oil and gas prices, hence, presenting a competitive market for nuclear energy. The energy would have the same effect due to the worsening climate crisis, which already had put several policymakers thinking about carbon pricing, and if this policy is pursued aggressively in the future, not only will be nuclear energy needed but be a competent resource. Security of energy supply – Political disagreement can disrupt of energy supply, as we have seen in wake of the Russian invasion of Ukraine. Russia has stopped exporting gas to Finland, Poland, and Bulgaria as they refused to pay in rubbles as per Russian demand for payment instead of euros or dollars. Even Nordstream 2 project has been put on halt by Germany, a country that in 2020 relied Russian supply of more than half of Germany’s natural gas and about a third of all the oil… and roughly half of Germany’s coallxxii. The event worldwide has made countries realize the dangers of reliance on imported fossil fuels and the need for a steady domestic energy supply source. Nuclear power can act as a hedge against the susceptibility to disturbing oil and gas supply. Rising energy and water demand along with constrained supply sources – Global population has boomed along with technological evolution and ambition of a high standard of living, which no doubt would mean a doubling of electricity consumption by 2030. To cater to the freshwater needs of rising populations, desalination plants have been opened in several countries such as Saudi Arabia, the USA, etc. These plants consume a large amount of electricity, something nuclear power plants with lower emissions than fossil fuels. It can help produce industrial fresh water on a large scale whilst supplying baseload electricity to grids. CONCLUSION Nuclear power is but ungainly technology borne out of the long-gone Cold War era, a bane if you will. The risks are simply too high to give in to the greenwashing image of nuclear power pandered by the nuclear industry, nuclear advocates, and pro-nuclear governments. Nuclear power may produce zero GHG emissions but nuclear waste can produce far worse consequences if it is not properly stored. Nuclear power is also treated as an existential choice because climate change has become an existential problem or will be one soon if the GHG emissions are not brought down soon. However, the truth remains that nuclear power cannot rapidly develop within the time frame we need, the SMR designs are not going to be commercialized anytime soon because of heavy and several safety checks. Renewables, on the other hand, is evolving and deploying at a much faster and cheaper rate, not only that but they are more flexible. Looking through the economic lenses, the standardized reactors acted as an effective strategy for nuclear power in many countries such as France, however, then they decided to build even bigger reactors such as the European Pressurized Reactor. For example, the Flamanville plant, which was initially was expected to cost 3.3 billion euros and start operations in 2012 lxxiiiwith delays and additional costs is set to start operation in the second quarter of 2023, and the latest count the estimate cost had risen to 12.7 billion euroslxxiv. The UK with its Hinkley Point as 2022, has revised the operating date for the site in Somerset is now June 2027 and total costs are estimated to be in the range of £25bn to £26bn and if it finally comes on stream, British consumers will be burdened for decades with the price of the electricity produced there index-linked for 35 years from the exorbitant level of £92.50 per megawatt hour originally set in 2013lxxv. Nuclear power put its bet on the SMRs, however, there is no guarantee that they will successively work as they are developing stages and even if they do, they will not be deployed until the 2030s. A nuclear fade case is ideal possibility, wherein the number of underway projects do not increase and no further reactors are built nor are there any lifetime extension of older reactors. The nuclear fade case was much realer in 2019, when they were explored by the IEA and World Energy Outlook by implementing them in: New Policies Scenario and the Sustainable Development Scenario respectively. However, as of 2022, there have been regulatory decisions to extend the lifetime of over 50 GW reactors. In the United States, an additional reactor has been granted an initial 20-year extension and six others approval for a subsequent 20-year extension since 2019. In France, regulatory approval has been granted for 32 reactors to be extended by ten years. These approvals are alongside EDF’s Grand Carénage programme, which runs from 2014 to 2025. It involves substantial investment in enhancing reactor safety through maintenance and technical modifications, with the goal of prolonging the lifetimes of most of the fleet of 56 reactors beyond 40 years. In Japan, two additional reactors received regulatory approval to re-start since 2019. Nuclear energy as of now persists and bright future seems to be on horizon for it. Are we ready to take the risks that come along? Personally, I’m not and ideally, the fade case for nuclear comes becomes a reality. BIBLIOGRAPHY i Duggal, H. (2021, November 4). Infographic: COP26 goals explained in maps and charts. Aljazeera . Retrieved from: https://www.aljazeera.com/news/2021/11/4/infographic-cop26-climate-summit-goals-explained ii Laue, H.J; Bennett, L.L; Skjoeldebrand, R. Nuclear power in developing countries. Technical co-operation . 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< Back Artificial Intelligence: Boon or Curse? by Prachi Saswade Artificial Intelligence is used in almost every sector in the world today, extensively in the business world. There are many discussions about the impact of AI, both positive and negative. Introduction Artificial Intelligence (AI) is a term that has been floating around for a couple of decades. The definition of AI has been evolving, but the most widely accepted was given by John McCarthy in 2004, in his paper, What is Artificial Intelligence? : “It is the science and engineering of making intelligent machines, especially intelligent computer programs. It is related to the similar task of using computers to understand human intelligence, but AI does not have to confine itself to methods that are biologically observable”. The definition of AI has multiple approaches, but remain in line with the word, “intelligence”, specifically intelligence that is akin to that of humans. However, in the widely renowned authority in the field, Stuart Russell’s textbook, Artificial Intelligence: A Modern Approach , states that, "AI is concerned mainly with rational action. An ideal intelligent agent takes the best possible action in a situation” (Russell & Norvig, 2021). The multiple mentions of “intelligence" and “rationality” date back to Alan Turing, who in his 1950 paper, Computing Machinery and Intelligence , asked the question, “Can machines think?”. This was succeeded by the infamous “Turing test”. This paper started the conversation about AI, and while the test has been controversial over the years, it is an important part of the AI history. Shortly after Turing’s paper, John McCarthy coined the term “Artificial Intelligence” during the first AI conference held at the Dartmouth College, New Hampshire, United States. In the same year, Allen Newell, J.C. Shaw, and Herbert Simon, created the first ever running AI program, called the Logic Theorist . About a decade later, Frank Rosenblatt built the Mark 1 Perceptron , a computer based on neural networks that learn through “trial and error”. The 1980s saw a rise in the usage of the back-propagation algorithm that allowed the neural network to train itself. These networks were then used in AI applications. Soon after, in a historical feat by IBM, “IBM's Deep Blue beats then world chess champion Garry Kasparov, in a chess match (and rematch)” (IBM Education, 2020). AI has evolved through multiple trials, and based on the concept of applying human-like intelligence and rationality to computer decision making. The many industries working in the field have seen the massive adoption of the technology and continue their research on making it more and more “human” each day. Level of Involvement of AI in our Daily Life Artificial Intelligence has crawled into our lives and has become an integral part of it. AI is used in multiple fields in the present day that many-a- times we are not even aware that AI is being used there. Currently AI is being used all around the globe day and night. Forbes created a list of ten examples of how AI is used in its article, The 10 Best Examples Of How AI Is Already Used In Our Everyday Life . The list includes, technologies like FaceID, social media, digital voice assistants, etc. Starting with the most basic one, unlocking your phone. Apple’s FaceID technology uses artificial intelligence and 3D scanning to register the user’s face demographics. “It then uses machine learning algorithms to compare the scan of your face with what it has stored about your face to determine if the person trying to unlock the phone is you or not” (Marr, 2019). Continuing on the same spectrum, social media uses AI to curate each user’s feed based on their history of liked posts, and engagement to certain content. The machine learning algorithms also aid in filtering out false news and content that multiple users have engaged with. Engagement with content requires the accompanying text to be written well, this requires tools such as Grammarly. Grammarly uses AI and natural language processing to ensure that its users focus on writing and leave the grammar to Grammarly. This technology is being used for professional emails, and any other writing that a user might require. Many smart homes are in trend now and the the vital component of these smart homes are smart home devices like Alexa, Google Assistant, and HomePod. These smart devices use AI to to keep learning from the user’s usage patterns. Amazon recommendations is one of the more well known AI technology. Based on the user’s past order history, and searches, the recommendations for products are personalised. Along the same lines, Netflix uses AI and the past viewing history in the same way. Netflix is known for its spot-on personalised TV show and films recommendations for its consumers. Lastly, “Google maps and other travel apps use AI to monitor traffic to give you real-time traffic and weather conditions as well as suggest ways to avoid gridlock” (Marr, 2019). Many car companies now have an in-built mapping system in the cars and this further allows the user to commute with ease. The AI technology is only growing more and more each day, and is being integrated into our lives rapidly. It is only time before every commodity we use will have some enhancements made to it to accommodate artificial intelligence. Various Approaches to integrate AI seamlessly Approaches to AI has a different connotation in the setting that it is being used in. For example, approaches to that drive AI research includes – cybernetics, symbolic and sub-symbolic approaches, as well as, the statistical approach (Milošević, 2013). At the same time when one talks about integrating AI into business, the approaches change from concrete terms to an instruction manual, almost all ending with the advice to “start small”. In the general context, however, we have four main approaches to AI – reactive machines, limited memory, theory of mind, and self-awareness. These four approaches are based on the behaviour of the machines that will use AI. Reactive Machines The most basic AI systems are based on reactivity only. These machines often are good at predictions based on a certain set of rules, games such as chess. These machines only “react” to a situation, with no meaning of the past. They have no memory of the past, and only works in the present moment. IBM’s Deep Blue, the chess-playing computer is a notable example of this approach. “Deep Blue can identify the pieces on a chess board and know how each moves. It can make predictions about what moves might be next for it and its opponent. And it can choose the most optimal moves from among the possibilities” (Hintze, 2016). This means, Deep Blue only processes the chess pieces in front of it at present and chooses its next move. It does not look back for any previous references. AI researcher Rodney Brooks, in his paper argues that all machines should be built on this system. His reasoning for this was that the programming for such stimulated worlds was often not accurate enough and did not provide a valuable “representation” of the world (Brooks, 1991). Reactive machines can be “easily fooled” because they have no concept of the world outside of the rules they are set within. These machines however, can prove to be extremely impartial as they only react to what is presented to them in real-time. This suggests that might prove to trustworthy due to lack of emotional engagement. Limited Memory The limited memory machines are considered the Type II class machines. These machines have an ability to look into the past. The best example of this is seen in self-driving cars. Self-driving cars require the programmed world to have representations that are pre-programmed, such as traffic rules, or routes in the city, etc. These are also included when the car has to change its lane and avoid an accident. “But these simple pieces of information about the past are only transient. They aren’t saved as part of the car’s library of experience it can learn from, the way human drivers compile experience over years behind the wheel” (Hintze, 2016). It has been noted by both Brooks, and Hintze that it is difficult to build AI systems that are full of representations, as well as, remember experiences and learn how to tackle newer situations. Hintze has applied the Darwinian evolution to his research to let machines build their own representations. Theory of Mind “[Theory of mind is] skill that involves the ability to think about mental states, both your own and those of others” (Cherry, 2021). This psychological concept introduces the next class of machines. These machines are far more advanced and as the theory of mind suggests, form representations of not only the world, but also about other participants or agents that exist within it. The example of this would be Sophia, the AI robot. As one see, Sophia can not only answer questions, but connect to various entities around her. Self-awareness Self-awareness is the last approach to AI systems. This system is the most advances class of machines, wherein, the machines can build representations about themselves. Many researchers are looking to build AI systems that have a consciousness, not just understand it. This is a step up from the theory of mind, as here, the machines will be able to make inferences about other entities in the same way human rational thinking does. According to Hintze, “we are probably far from creating machines that are self-aware, we should focus our efforts toward understanding memory, learning and the ability to base decisions on past experiences” (Hintze, 2016). This however, does not dampen the possibility that we might live in a world where AI systems will be advanced enough to have a consciousness. Impact of AI and its Major Benefits Artificial Intelligence is used in almost every sector in the world today, extensively in the business world. There are many discussions about the impact of AI, both positive and negative. The impact of AI has brought on multiple questions, especially ones around employment of labour. In his paper, The Forthcoming Artificial Intelligence (AI) Revolution: Its Impact on Society and Firms , Spyros Makridakis discusses the impact of AI on developing countries. According to him, this revolution will be more “pronounced” in the developing states for two reasons. Firstly, the use of machinery will replace the skilled and unskilled labour, this will result in foreign (developed) countries to remove their investments in the still developing countries. Secondly, “developing countries will be at a disadvantage by not being able to invest in expensive AI technologies, particularly since such technologies will reduce the demand for human labour thus further increasing unemployment” (Makridakis, 2017). To solve this, Makridakis suggests that “[educating] their young people in AI technologies and by doing so become able to attract investments from abroad as well as manage to exploit the “sharing economy” (Makridakis, 2017). However, he also emotions that his might prove to be very difficult. The impact of AI will soon be seen in almost every factory across the globe, but in order for everyone to adopt the technology, the acceptance for it must be present. However, all of AI is not bad news. There are multiple benefits to AI technology. For starters, it helps for smarter business decisions. It can also help, in enhancing the customer experience, medical advances, research and data analysis, solving complex problems, among others ("Top 10 Benefits of Artificial Intelligence (AI) | 10xDS", 2020). AI is also great at minimising errors and completing repeated tasks. This is extremely beneficial for companies that use data mining for decision making, and other activities. One example of this would be the clickstream analytics. This technology is used by multiple social media apps, as well as, companies like Amazon. They use the data generated when the user visits the website of an advertised product or service. This data then uses AI to target similar ads to the consumer, which for companies like Amazon, leads to the consumer purchases. Another benefit seen in this field is use of AI in chatbots. Chat bots are present on almost every company’s website today, and these are often run by AI. The AI scans through the frequently asked questions to provide an answer to the user within seconds. This technology reduces the time and allows a filtration of questions sent to the (human) employee to answer. These chat bits are now being used by banks as well. This technology is evolving rapidly and steadily. The integration of AI into our lives is increasing by the day, and like most technology invented to date, will only serve to make our lives easier. That being said, one must not ignore the problems that it comes with. Associated Problems and Pitfalls AI has been a game changer in many sectors of the world. However, there have been many negatives attached to the technology. As mentioned before, one of the associated pitfalls is the impact the technology has on the developing countries. Other than that, there are multiple common challenges in AI such as, computational or hardware problems, lack of trust, lack of human-level experimental management, data security and privacy issues, and lastly the biases in the dataset. As the world moves on to work with AI, the hardware for such upgradation requires enough cores and GPUs to work efficiently. This can take a monetary toll on any small company that is just starting up. Moreover, any company that is planning to move to AI will have to consider their options and make financially beneficial decisions. The lack of trust stems from the unknown networks that deep learning uses to come to conclusions. The logic is still muddy and can cause a string of worry for the users. This also brings to light the “human experience” into play. Humans use experiential knowledge to make further decisions. While one can argue that AI does the same, human accuracy based on other factors (social, economic, and cultural) is far greater. Data privacy and security have been in the spotlight, especially since the FaceBook privacy case. The data that deep and machine aligning models use comes from across the globe and is generated by a large volume of users. The company collecting the data needs to be trustworthy, and it goes without saying that many companies might not always have good intentions with their clientele’s data. Lastly, the issues of biased dataset. Unfortunately, a large portion of the data that the algorithms receive is biased. The bags may be based on religion, gender, or race. The data collected can also be biased in the way the algorithm is programmed, i.e.. the programmer or interpreter’s biases can come into play in these situations. These issues can seem daunting, especially for those who are new to this territory. However, AI algorithms can be created to reduce biases, and for this reason AI ethics exists. These ethical guidelines are followed around the world and reduce the negatives in this technology. Proposed Applications of AI in Coming Years AI has shaped the tech world, and given it a new form. According to IBM, AI advances would not be possible without a formula that contains three things: “the rise of big data combined with the emergence of powerful graphics processing units (GPUs) for complex computations and the re- emergence of a decades-old AI computation model—deep learning” ("The new innovation equation", n.d.). The future of AI will see these elements have a makeover. The rise of small data, and deep reasoning will be seen soon. According to the University of Southern California’s researchers, AI will change the entertainment industry, medicines, cybersecurity, vital tasks like help for the elderly, and transportation (Gammon, 2017). Netflix has been using AI and machine learning techniques for a while now, and it will only get better. The addition of more streaming platforms can revolutionise the entertainment industry in the near future. With the help of AI, “film studios may have a future without flops: Sophisticated predictive programs will analyze a film script’s storyline and forecast its box office potential” (Gammon, 2017). Additionally, a user can also ask these platforms to create “virtual actors” and make a custom movie right at home. A more personalised approach to medicine can be seen on the horizon. With genome sequencing technology already in boom, the medicines that a patient might need can be altered to the patient’s genome and provide for a more effective treatment. Moreover, AI will help health care analyse a patient’s health based on more factors like lifestyle, environment, and genes. The detection of any tumours, or diagnosing basic ailments will also be done by AI. Having a large volume of data generated by users of a certain application comes with the potential risk of hackers and data breaches. “There were about 707 million cybersecurity breaches in 2015, and 554 million in the first half of 2016 alone” (Gammon, 2017). According to USC, AI’s ability to self-learn and automate can be a fruitful solution to remain one step ahead of the hackers. This will ensure the security of billions of people across the globe. Security and safety are utmost important human values, but so is independence. Many elderly citizens around the globe struggle to do daily tasks, or often require someone keeping an eye on them. With the working culture, they are usually left to look after themselves. AI tools around their areas of living can provide for a monitor on their movement, as well as, help with reaching objects on a high shelf, and ensure the supply of nutritious food. Moreover, these tools could mow their lawns, and help with maintaining the general hygiene of their residence. Additionally, AI assistance can be extremely useful in tasks such as mining, firefighting, and handling dangerous materials. We are already seeing a rise in self-driven cars. However, in the future this might expand into the public transportation systems as well. These AI driven vehicles are often much safer than humans, as they never get distracted but he radio or the other passengers in the cars. These are just the proposed application of AI, and there definitely will be more as the days pass by. The importance of AI will just increase multi-fold and defining only a certain amount plausibilities of its future can prove to be limiting its true potential. Future Predictions – Boon or Curse AI has seen a slow burn for a while but is deemed to explode into every aspect of our lives soon. That being said, the question still remains, is Artificial Intelligence a boon or a curse? AI has more benefits than we can count, and like every technology ever invented, it is here to make our lives easier and better. AI has seen better healthcare, better production, and better decision making. One cannot argue that AI saves us from repetitive and ‘boring’ tasks form time to time. Additionally, its capacity to sift through large volumes of data, or big data, is unmatched. To repeat the same tasks but using only human workforce will take years. That being said, AI also comes with its own pitfalls. Relying on technology can make some people wary, especially with multiple security and data privacy issues. According to multiple people, AI still does not understand human values like privacy, and in many ways cannot match a human’s emotional and social intelligence. AI can only use the provided information and come to conclusions based on the algorithms provided by the programmer, and is quite redundant by itself, unlike humans. AI can only be more “like” humans, but cannot be completely “humane”. AI when looked at as a tool can provide for millions of possibilities, and that might be the best way to look at it. AI can be used for multiple mad- practices, and ethics can only get one so far. Ethics are important, and in order for every user of AI to implement and respect them, there need to be strict judicial laws across the globe to ensure the safety of the people. The technology is still evolving, and it might be wise to wait a little longer to categorise it as a “boon” or a “curse”. No technology can ever fit into only one category, each one comes with its own pros and cons. With AI, we might need to wait until we can see which one outweighs the other. Bibliography 1. McCarthy, J. (2007). What is artificial intelligence?. 2. Russell, S., & Norvig, P. (2021). Artificial intelligence: A Modern Approach (4th ed.). Pearson Education Limited. 3. Turing, A. M. (2009). Computing machinery and intelligence. In Parsing the turing test (pp. 23-65). Springer, Dordrecht. 4. IBM Education. (2020). What is Artificial Intelligence (AI)? . Ibm.com. Retrieved 28 June 2022, from https://www.ibm.com/cloud/learn/what-is- artificial-intelligence. 5. Marr, B. (2019). The 10 Best Examples Of How AI Is Already Used In Our Everyday Life . Forbes. Retrieved 28 June 2022, from https:// www.forbes.com/sites/bernardmarr/2019/12/16/the-10-best-examples-of- how-ai-is-already-used-in-our-everyday-life/?sh=205c28bf1171. 6. Milošević, N. (2013). Approaches to artificial intelligence . Inspiratron.org - Natural language processing, machine learning and cybersecurity. Retrieved 1 July 2022, from https://inspiratron.org/blog/ 2013/05/10/approaches-to-artificial-intelligence/. 7. Hintze, A. (2016). Understanding the Four Types of Artificial Intelligence . GovTech. Retrieved 1 July 2022, from https:// www.govtech.com/computing/understanding-the-four-types-of-artificial- intelligence.html. 8. Brooks, R. (1991). Intelligence without representation. Artificial Intelligence , 47 (1-3), 139-159. https://doi.org/10.1016/0004-3702(91)90053- m. 9. Cherry, K. (2021). Why the Theory of Mind Is Important for Social Relationships . Verywell Mind. Retrieved 1 July 2022, from https:// www.verywellmind.com/theory-of-mind-4176826. Artificial Intelligence (AI) – Boon or Curse? 17 10. Makridakis, S. (2017). The forthcoming Artificial Intelligence (AI) revolution: Its impact on society and firms. Futures , 90 , 46-60. https:// doi.org/10.1016/j.futures.2017.03.006 11. Top 10 Benefits of Artificial Intelligence (AI) | 10xDS . 10xds.com. (2020). Retrieved 2 July 2022, from https://10xds.com/blog/benefits-of- artificial-intelligence-ai/. 12. Vadapalli, P. (2021). Top 7 Challenges in Artificial Intelligence in 2022 | upGrad blog . upGrad blog. Retrieved 5 July 2022, from https:// www.upgrad.com/blog/top-challenges-in-artificial-intelligence/. 13. The new innovation equation . IBM Cognitive - What's next for AI. Retrieved 7 July 2022, from https://www.ibm.com/watson/advantage- reports/future-of-artificial-intelligence/ai-innovation-equation.html. 14. Gammon, K. (2017). 5 Ways Artificial Intelligence Will Change the World by 2050 . USC News. Retrieved 7 July 2022, from https:// news.usc.edu/trojan-family/five-ways-ai-will-change-the-world-by-2050/. Previous Next

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< Back Consumer Behavior by Asiya Agarwal For businesses aiming to thrive in competitive markets, understanding consumer behaviour is essential. It guides the development of effective marketing strategies that align with consumer needs and desires. Introduction Consumer behaviour refers to how individuals or households decide what to buy, use, and discard. It is influenced by psychological factors such as perceptions, motivations, and attitudes, as well as cultural influences that shape preferences and purchasing habits. For businesses aiming to thrive in competitive markets, understanding consumer behaviour is essential. It guides the development of effective marketing strategies that align with consumer needs and desires. In this article, we begin by defining consumer behaviour and exploring its key aspects, followed by delving deep into the psychological factors that underpin it. We then turn our attention to understanding consumer behaviour in India, which is a complex subject owing to the country’s diverse cultural tapestry and economic disparities. This diversity presents both unique opportunities and challenges for businesses. Lastly, through insightful case studies from the retail industry, we analyse how businesses have successfully applied consumer behaviour concepts to drive growth and capture market share. We also examine instances where strategies have faltered, providing valuable insights into the complexities of consumer behaviour and market economics. Defining Consumer Behaviour Consumer behavior refers to the study of how individuals, groups, or organizations select, purchase, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires. This study involves examining the decision-making processes and the actions that precede and follow these activities. It also involves analyzing various influencing factors, including psychological influences (such as perceptions, motivations, and attitudes), social influences (such as family, friends, and cultural norms), and situational factors (such as physical environment and time constraints). Key aspects of consumer behaviour Decision-Making Process: This is the whole process from realizing a consumer need something to looking at different options, making a choice, and then later thinking about how happy they are with their decision . For example, when buying a new phone, you first notice your old one is slow and takes poor pictures ( Problem Recognition ). You then research different phones online, comparing features and prices ( Information search and Alternative Evaluation ). After careful consideration, you choose a model that fits your budget and has the features you desire ( Purchase Decision ). Once you begin using it, you might find that it takes great pictures but drains the battery quickly ( Post-purchase Behavior ). Influences on Behaviour: Many things can affect why and how individuals buy something. This includes their culture, what their friends and family think, how they feel about things, and even how much money they have. For instance, when deciding on a laptop for college, friends may recommend a trusted brand ( Social influence ), while family preferences may favor a particular brand that they are use to ( Cultural influence ). You may prioritize a lightweight design for portability ( Personal Preference ) , also shape buying decisions. Types of Buying Decisions: Buying decisions vary from routine purchases (like groceries) to complex buying decisions (like buying a car). Routine purchases are often automatic and based on habitual choices, while Complex decisions involve extensive research and comparison. For example, grocery shopping weekly is a routine purchase, where familiar brands are chosen with minimal consideration. In contrast, choosing a car involves significant research and deliberation due to its importance. Post-Purchase Behaviour: Post-purchase behavior refers to the feelings and actions after buying a product. Positive post-purchase behavior occurs when satisfaction leads to recommendations and repeat purchases. Conversely, negative experiences may result in disappointment and a shift to other brands. For example, enjoying a new video game may lead to recommending it and purchasing additional features ( Positive post-purchase behavior ), while encountering bugs and frequent crashes may lead to frustration and a decision to avoid future purchases from that developer ( Negative post-purchase behavior ). Psychological Factors Influencing Consumer Behavior Consumer behavior is profoundly shaped by various psychological factors that influence how individuals interpret information, make decisions, and form perceptions about products and brands. Understanding these psychological influences is crucial for marketers aiming to effectively engage consumers and drive purchasing behavior. 1. Perception: Perception is how consumers interpret and make sense of the information they encounter. Va rious factors can influence perception, including the consumer’s past experiences, expectations, and cultural background. Marketers strategically influence perception through visually appealing advertisements, strong branding, and strategic product placement to shape favorable perceptions of their offerings. a. Visual Appeal: Creating visually appealing advertisements and packaging that attract attention. For example, Apple Inc. uses sleek, minimalist designs in its product packaging and advertisements to convey a sense of sophistication and high quality. b. Branding: Establishing a strong brand identity that conveys quality and reliability. For instance, Nike consistently reinforces its brand through its iconic swoosh logo and "Just Do It" tagline, ensuring that consumers associate its brand with athletic excellence and motivation. c. Product Placement: Positioning products in high-visibility areas in stores to increase the likelihood of consumer notice. For instance, in grocery stores, brands like Coca-Cola pay for prime shelf space at eye level to ensure their products are easily seen by shoppers. 2. Motivation: Motivation refers to the internal driving forces that compel consumers to take action. Various factors, including personal needs, desires, and goals, can influence motivation. Marketers capitalize on consumer motivation through promotional offers, limited-time deals, and loyalty programs that incentivize purchases. a. Promotional Offers: Offering discounts, coupons, and special deals to create a sense of urgency and value. For example, Amazon’s Prime Day offers significant discounts on a wide range of products, motivating consumers to make purchases during the limited-time event. b. Limited-Time Offers: Creating a sense of urgency by providing time-limited deals that encourage immediate action. Fashion retailer Zara often releases limited edition collections, prompting fashion-conscious consumers to buy quickly before items sell out. c. Loyalty Programs: Implementing reward programs that incentivize repeat purchases. Starbucks’ Rewards program offers points for every purchase, which can be redeemed for free drinks and food items, motivating customers to return. 3. Learning: Learning involves changes in behaviour resulting from experiences and information acquisition. Marketers use various techniques to help consumers learn about their products and develop preferences. a. Free Trials and Samples: Offering free samples or trials to let consumers experience the product first-hand. Cosmetics brand Sephora provides free samples of perfumes and skincare products, allowing customers to try before they buy. b. Educational Content: Providing information through tutorials, demonstrations, and detailed product descriptions to educate consumers. For instance, Reliance Digital offers in-store workshops and online tutorials to help customers understand and use electronic gadgets effectively. c. Consistent Messaging: Reinforcing brand messages across different platforms to ensure consumers remember and recognize the brand. For example, Coca-Cola maintains consistent branding and messaging across its global advertising campaigns, reinforcing brand identity. 4. Attitudes and Beliefs: Attitudes are consumers’ evaluations of a product, while beliefs are the convictions they hold about it. Marketers aim to shape positive attitudes and align with consumers' beliefs to foster brand loyalty. a. Social Proof: Leveraging testimonials, reviews, and endorsements to build credibility and trust. Glossier, a skincare and beauty brand, extensively uses customer reviews and user-generated content in its marketing to create a community-driven brand image. b. Cause Marketing: Associating the brand with social causes that resonate with consumers' values. Outdoor apparel brand Patagonia promotes environmental sustainability and donates a portion of its profits to environmental causes, aligning with the values of its eco-conscious customers. c. Emotional Appeals: Crafting messages that evoke positive emotions such as happiness, nostalgia, and trust. Coca-Cola’s “Share a Coke” campaign, which replaced the brand logo with popular names, evoked feelings of personal connection and joy. Understanding these psychological factors enables marketers to tailor strategies that resonate with consumer behaviors, effectively driving engagement, satisfaction, and brand loyalty. Consumer behaviour in India: Influencing factors India's consumer behaviour is shaped by a complex interplay of cultural, economic, social, and technological factors. Understanding these dynamics is crucial for businesses aiming to succeed in this diverse market. Cultural Factors - India's cultural diversity results in wide-ranging consumer preferences across regions. For example, traditional clothing choices vary significantly: in Tamil Nadu, silk sarees are preferred, whereas Bandhani fabrics are popular in Gujarat. Effective marketing strategies must be localized to cater to these regional preferences. Furthermore, India's communal and family-oriented culture influences purchasing decisions, with major purchases like cars or homes often made collectively by the entire family. Understanding and appealing to these family values are essential for businesses. Economic Factors - India's population spans a broad economic spectrum, from affluent urban residents to rural inhabitants with limited income. This economic diversity influences consumer behaviour in various ways. Wealthier consumers often seek luxury products, while lower-income consumers prioritize affordability and practicality. The growing middle class in India is a significant driver of consumer spending. This group is more willing to experiment with new brands and technologies and demands a mix of premium and essential products. Their increasing purchasing power fuels the demand for a wide range of goods, making them a critical target for businesses. Social Factors - Improving literacy rates and education levels in India have created more informed consumers. These educated consumers are more discerning and often research products and brands extensively before making a purchase. Rapid urbanization is also transforming consumption patterns. Urban consumers generally have higher incomes and are more likely to adopt modern retail formats and online shopping. This shift towards urban living and higher education levels makes it essential for businesses to focus on providing detailed product information and leveraging modern retail channels. Technological advancements - The widespread use of the internet and smartphones has revolutionized the Indian retail landscape. E-commerce platforms like Amazon, Flipkart, and local startups have made online shopping convenient and accessible, even in smaller towns and rural areas. Social media platforms such as Facebook, Instagram, and WhatsApp play a significant role in shaping consumer behaviour. Influencers, peer reviews, and digital marketing campaigns heavily influence purchasing decisions, particularly among younger consumers. These platforms allow businesses to reach a broad audience and engage with consumers directly, making them indispensable tools for modern marketing strategies. Case Study: Adaptation of Marketing Strategies for Indian Market India's retail industry, catering to a population exceeding 1.4 billion, has witnessed substantial evolution. Success in this dynamic landscape necessitates localized marketing approaches that cater to regional preferences and cultural nuances. Businesses must adeptly navigate economic disparities by offering tiered pricing strategies that accommodate diverse income groups. Leveraging digital technologies enables personalized consumer experiences and facilitates regional adaptations through multilingual support and localized payment methods. Social media and influencer marketing strategies are instrumental in enhancing brand visibility and connecting with socially conscious consumers. Effective engagement with Indian consumers requires a nuanced understanding of their diverse preferences, economic realities, and cultural dynamics. Here is an analysis of how global and local brands such as Reliance, IKEA, and Amazon customize their marketing strategies to effectively engage with Indian consumers. IKEA Case Study IKEA's strategic entry into the Indian market exemplifies its ability to adapt to local consumer behavior while maintaining its global brand identity. Understanding key aspects of consumer behavior and psychological factors influencing consumer behavior were crucial in their approach. Decision-Making Process Problem Recognition: IKEA identified the need for affordable, stylish, and space-efficient furniture suitable for diverse living spaces in urban India. For example, they introduced modular furniture designs that optimize space without compromising on aesthetics, catering to all kinds of urban homes. Information Search and Evaluation: To facilitate informed decisions, IKEA provided comprehensive product information both online and in-store. Consumers could explore various options and compare features, prices, and styles before making a purchase decision. This approach ensured transparency and empowered consumers in their choices. Purchase Decision: IKEA implemented a pricing strategy that offered a range of products from budget-friendly options to premium items. This allowed them to cater to different consumer segments while maintaining quality and affordability. For instance, their "under ₹200" product range included essential household items accessible to budget-conscious consumers. Post-Purchase Behavior: IKEA focused on enhancing the post-purchase experience by offering installation services, warranties, and after-sales support. This commitment to customer service aimed to ensure satisfaction and build long-term relationships with consumers. Psychological Factors Influencing Consumer Behavior Perception: IKEA’s store designs and product displays integrated minimalist Scandinavian aesthetics with localized elements, creating an inviting shopping environment. For example, their Hyderabad store featured Indian artwork and a restaurant serving local cuisine, enhancing the cultural connection and overall shopping experience for consumers. Motivation: To encourage purchases, IKEA leveraged seasonal discounts, loyalty programs, and exclusive member benefits. Special events like "Family Day" offered additional incentives for loyal customers, fostering continued engagement and brand loyalty. Learning: IKEA educated consumers through online tools, workshops, and interactive displays that helped them visualize and plan their living spaces. For example, their online room planners and in-store demonstrations facilitated informed decision-making and inspired consumers with creative interior design ideas. Attitudes and Beliefs: IKEA promoted sustainability through initiatives like using renewable materials and energy-efficient designs. This commitment resonated with environmentally conscious consumers, reinforcing positive attitudes towards the brand. Consumer behaviour in India: Influencing factors Cultural Integration: IKEA collaborated with local artisans and designers to create collections that celebrated Indian craftsmanship and heritage. Exclusive partnerships resulted in products featuring traditional textiles and patterns, appealing to consumers interested in supporting local artistry. Family-Centric Approach: Recognizing India's family-oriented culture, IKEA positioned their furniture as solutions that cater to family needs and preferences. They highlighted products that facilitate family gatherings and festivals, promoting the importance of functional and comfortable living spaces. Urban Lifestyle Solutions: Addressing urbanization trends, IKEA offered space-saving furniture designs such as foldable tables and modular storage units. These solutions were showcased in store displays that demonstrated their ability to transform small living areas into stylish and practical spaces. Customization and Personalization: IKEA allowed consumers to customize furniture designs to suit individual preferences. Options to choose fabrics, configurations, and accessories empowered consumers to create personalized living environments. For example, their "Design Your Own Sofa" tool provided flexibility in sofa design and upholstery selection. By aligning its strategies with the key aspects of consumer behaviour, IKEA successfully entered and established itself in the Indian market. The company's attention to cultural, economic, social, and technological influences, along with its understanding of psychological factors and the decision-making process, enabled it to meet the unique needs of Indian consumers effectively. 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< Back EVs - The next big thing in saving the environment by Vidur Jhunjhunwala This study investigated the background characteristics and environmental impacts of EVs with an emphasis on their potential in the Indian market. EV- The next big thing in saving the environmentELECTRIC VEHICLE The Primary components of a Battery Electric Vehicle (BEV) are • The Battery Pack • Inverter • Electric Motor • Controller • Charger • Charging Cable Battery Pack A BEVs range, propulsion and all its other features depend solely on the battery pack for power. BEVs use high voltage batteries (HV) to power them. The battery pack is built by connecting thousands of these cells in series and parallel to achieve the required amount of current output from these cells. An energy source like a battery needs to satisfy two important criteria-energy density and power density. These along with other features like easy maintenance, long life, inexpensive and fast charging. There are various batteries which have been used for BEVS. Few include lead-acid, Ni- Cd, Li-ion. The most common battery used in BEVs are Li- ion batteries. However, the industry is slowly drifting towards Na – ion batteries which are more efficient than Li-ion. 5 The figure depicts the multiple battery cells used in EV battery packs. In the Tesla Model S, cells are arranged into different modules. 16 of these modules are then connected in series and parallel to achieve the desired power output. Metallic inner tubes are passed through the gaps between the cells in which glycol coolant is passed through to prevent overheating of the batteries. The benefit of using multiple smaller cells instead of fewer big cells is the temperature is maintained evenly preventing thermal hotspots in the case of the small cells. Even temperature distribution results in higher battery life. The low height of the battery pack fitted close to the ground level, lowers the vehicles center of gravity which provides extra stability to the vehicle. The battery pack is also spread across the floor allowing for structural stability and protection from side collisions. As said earlier Lithium - ion cells are the most used cells for BEVs currently, they work on the principal of converting chemical energy to electrical energy via redox reactions. Understanding the functioning of Lithium-ion Cells (LICs) requires knowledge of lithium's properties that allow it to function as a cell. Lithium atoms are very reactive and easily give away their lone electron from the outermost shell. In contrast, lithium oxides are extremely stable compounds. Once the lithium atom is removed from its oxide, it becomes very unstable and easily gives away its outer electron. When there is a designated route for both the electron and the lithium-ion to reach the metal oxide separately, the lithium- ion will combine with the oxide while the electron moving towards the oxide will produce electric power. This is the fundamental concept that LICs function based on. An LIC is composed of a cathode, an anode, a separator, and two current collectors, usually constructed from copper and aluminum. 7 The graphite anode is typically referred to as the anode or negative terminal. The ring structure of graphite enables lithium ions to intercalate between its layers. The lithium metal oxide used as the cathode, also known as the positive terminal, is typically lithium cobalt oxide or lithium manganese oxide. Organic solvents usually contain lithium hexafluorophosphate as the electrolyte. This electrolyte is applied onto a partially permeable separator, allowing lithium ions to move between electrodes while blocking electron flow. Copper and aluminum current collectors have cathode and anode coatings applied to them. While charging, current goes to the cathode, leading to the separation of lithium ions from the oxide and their movement towards the anode via the electrolyte and separator. At the same time, electrons move through the external circuit to reach the anode and insert themselves into the graphite. While the battery is discharging, electricity is produced as electrons move from the anode to the cathode, powering the device, and lithium ions travel towards the cathode and embed themselves into the oxide material. This process is how an LIC generates power. Motor and Engine BEVs utilize motors instead of traditional Internal Combustion Engines to propel the vehicles. Electric vehicles are typically powered by either permanent magnet synchronous motors (PMSM) or induction motors (IM). PMSM It operates based on a magnetic field that moves and another magnetic field that remains constant. An electric motor is made up of two main components. The stationary part and the rotating part The stator is supplied with three phase alternating current, resulting in a rotating magnetic field within the stator. Synchronous speed (Ns) is the speeds at which the magnetic field revolves. The rotor consists of aluminum bars, permanent magnets, and silicon steel laminations. Placing the rotor inside the stator results in the generation of a current induced by the rotating magnetic field, leading to a torque that causes the rotor to rotate in sync with the magnetic field. The permanent magnet's opposite poles and the rotating magnetic field are attracted to each other, becoming magnetically locked and causing the rotor to turn until it reaches synchronous speed. The rotor's mechanical energy is transferred to the wheels, resulting in their rotation. Ns=120f/P f- frequency of electricity P- number of poles Inverter The inverter converts the DC supply from the battery to AC for the motor. The frequency of the current supplied can be altered by the inverter hence changing the speed of the car. The inverter also plays a role in the regenerative braking system. When there is no signal from the accelerator, the kinetic energy of the car is converted to electrical energy which is converted to DC voltage and adjusted to fit the batteries requirements charging the batteries. The inverter constantly alters the frequency of the AC current supplied to the stator as the rotor is slowing down, hence braking. Charging Electric vehicles (EVs) have the capability to connect to charging systems powered by either alternating current (AC) or direct current (DC). These systems are available in various configurations, commonly known as "levels." The amount of time required for your EV to be fully charged depends on the level you select. Chargers must also adhere to safety standards. Charging using alternating current. AC AC charging stations utilize a converter integrated within them to convert AC power received from the grid into DC power for charging the battery. The SAE has set various power levels for AC EV charging. •Level 1 offers the lowest speed, delivering either 12 amps or 16 amps based on the circuit, with a top voltage of 120 volts.Level 1 charging is appropriate for charging overnight, especially for smaller EVs, and can require up to 12.5 hours to fully charge. • Level 2 charging is the most frequently used method for electric vehicles. A special charging station called Electric Vehicle Supply Equipment (EVSE) is needed for a direct connection to the electrical grid. The electric vehicle has its own built-in charger which changes alternating current into direct current. Level 2 chargers provide 240 volts and up to 60 amps, resulting in a maximum power output of 14.4 kW. This enables charging at a significantly faster rate than Level 1. • Level 3 is the high-powered choice made for use at public charging stations. These are fixed in place and connected to supply over 14.4 kW of power. For instance, quick chargers can greatly decrease charging durations, frequently refilling an electric vehicle battery in approximately 30 minutes. DC In contrast to AC charging, DC systems provide a faster charging option for electric vehicles (EVs). These systems need special electrical wiring for higher power output and can be set up in either home garages or public charging stations. DC charging systems are classified based on the power they provide, ranging across various levels. • Level 1 (Up to 36 kW): Although the slowest DC option available, it could still be useful for occasional charging needs. • Level 2 (Up to 90 kW): This level is frequently used and provides a nice equilibrium between charging rate and power needs. • Level 3 (Up to 240 kW): These chargers are the strongest DC fast chargers available, cutting down on charging times but necessitating unique infrastructure. EV owners can optimize their charging experience by selecting the appropriate DC charging level that suits their needs and infrastructure access. ADVANTAGES OF EVs 1)EVs offer a clear environmental benefit. They produce zero tailpipe emissions eliminating harmful pollutants like CO2, SO2, NOX etc. This is particularly impactful in urban areas where traffic congestion can arouse further air quality issues. Though the electricity provided to the EVs is majorly from fossil fuels and other indirect emissions, in the long run the environmental harms are much lesser than ICEs. As the electricity transitions towards renewable sources the environmental benefits of EVs increase further. “A major concern about electric vehicles is that the supply chain, including the mining and processing of raw materials and the manufacturing of batteries, is far from clean,” says Gillingham. “So, if we priced the carbon embodied in these processes, the expectation is electric vehicles would be exorbitantly expensive. It turns out that’s not the case; if you level the playing field by also pricing the carbon in the fossil fuel vehicle supply chain, electric vehicle sales would actually increase.” 2)Though EVs cost more upfront, the long-term cost of EVs is lesser than their ICE counterparts due to easy maintenance especially if charged at home. EVs do not require oil changes, spark plug replacements and electricity costs per unit are generally lower than gasoline. If charged overnight when demand of electricity is low this cost becomes even lower. For these reasons many shipping companies are transitioning their shipment trucks to electric vehicles due to cheaper long-term price 3) EVs provide an instant torque and remains constant for a longer period, while providing almost similar power as ICE as the energy generated by the motor is given directly to the wheels hence allowing for peak output immediately. Risks of EVs Limited Range and Charging Infrastructure: One of the major concerns for potential EV buyers is range anxiety, the fear that an electric vehicle will run out of battery before reaching its destination. Although modern EVs have improved their range capabilities, they still fall short when compared to the distance that ICE vehicles can travel on a single tank of fuel. Moreover, the availability of charging infrastructure remains a significant challenge. In many regions, there are not enough charging stations, and those that exist may not be conveniently located or may offer slow charging speeds. This infrastructure gap makes long-distance travel and even daily use less convenient for EV owners, potentially limiting the widespread adoption of electric vehicles. Battery Degradation and Disposal Over time: the batteries in electric vehicles degrade, losing their capacity and efficiency. This degradation can result in reduced driving range and overall vehicle performance, necessitating costly battery replacements. The lifecycle of an EV battery is typically around 8-10 years, after which it may need to be replaced, adding to the total cost of ownership. Additionally, the disposal and recycling of used EV batteries present significant environmental challenges. Batteries contain hazardous materials that require careful handling and processing to avoid environmental contamination. While recycling technologies are improving, the infrastructure for large-scale battery recycling is still developing, posing potential environmental and logistical issues. Impact on Stakeholders who Lose Out Oil and Gas Industry: The shift towards electric vehicles directly impacts the demand for oil and gasoline, which are the primary fuels for internal combustion engine vehicles. As more consumers adopt EVs, the demand for fossil fuels decreases, leading to lower revenues for oil producers, refiners, and distributors. This reduction in demand can also affect global oil prices, creating market volatility and financial instability within the oil sector. Companies in this industry may face significant financial losses and may need to diversify their business models to remain viable in a future dominated by electric transportation. Traditional Automotive Industry Manufacturers that have historically focused on producing ICE vehicles may struggle to adapt quickly to the electric vehicle market. This transition requires substantial investment in new technologies, manufacturing processes, and workforce training. Companies that fail to adapt may lose market share and revenue. Additionally, suppliers of components specific to ICE vehicles, such as engines, transmissions, and exhaust systems, may see a decline in demand for their products. This shift can lead to job losses and economic disruptions in regions heavily dependent on ICE vehicle production and related industries. EVs in India Electric vehicles (EVs) in India represent one of the most rapidly growing and promising industries. As of 2023, EVs accounted for 6.5% of all vehicles in the country. According to the Indian Ministry of Road Transport and Highways, there were 1,334,385 electric vehicles on Indian roads by July 2022. India's ambitious goal is to have 30% of all vehicles be electric by 2030, a target that underscores its bold approach to reducing oil dependency. This shift could significantly impact global oil prices and market trends, given India's status as the world's third-largest oil importer. The country's strategy for electric vehicles carries significant global ramifications, given its rapidly expanding economy and population. A successful transition in India could serve as a model for other developing nations, potentially accelerating the decline in global oil consumption. As India advances towards cleaner energy and better battery and charging technology, the market for EVs is expected to rise exponentially. Currently, leading EV manufacturers in India include Tata Motors, with models like the Nexon EV, Tigor EV, and Tiago EV; Mahindra Electric, with the eVerito and the e2oPlus; and MG Motor India, with the MG ZS EV. The Indian EV market is at an inflection point, with EVs accounting for about 5% of total vehicle sales between October 2022 and September 2023. This penetration could exceed 40% by 2030, driven by strong adoption rates exceeding 45% in both the two-wheeler (2W) and three-wheeler (3W) categories. Despite this potential, several structural challenges need to be addressed to spur increased EV adoption. These challenges include the higher price of EVs compared to internal combustion engine (ICE) vehicles, range anxiety, limitations in charging infrastructure, and friction in customer financing. Companies like Hyundai plan to invest close to $4 billion in the Indian market over the next decade, focusing on launching new EVs, establishing charging stations, and setting up a battery pack assembly unit. Maruti Suzuki India, the country's top automaker by sales, also plans to have six EV models by 2030. Currently, 2W EVs form most EV sales, accounting for 85%–90% of all EV units sold in India, followed by 4W EVs (7%–9% of sales) and 3W EVs (5%–7% of sales). The Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme's Phase II revision saw 2W EV penetration remain stable at around 5%, consistent with January-March 2023 levels. In contrast, 3W EV and 4W EV penetration levels experienced significant growth, with volumes more than doubling over the past 12 months due to their low total cost of ownership (TCO). India is home to numerous electric vehicle makers, offering a range of products from electric cars to scooters, catering to various needs and financial situations. The Indian government's ongoing support for electric vehicles suggests that the number of EVs on Indian streets will continue to rise soon. With significant investments from major automakers and continued innovation in EV technology, India is poised to become a global leader in electric vehicle adoption, setting a precedent for other nations to follow. Conclusion In conclusion. The economic and environmental issues brought about by our reliance on traditional internal combustion engine (ICE) vehicles are compellingly addressed by the rise of electric vehicles (EVs). This study investigated the background characteristics and environmental impacts of EVs with an emphasis on their potential in the Indian market. The primary battery electric vehicle (BEV) components—the battery pack inverter electric motor controller charger and charging cable—were examined in the study. Focusing on this aspect of EV power sources established an understanding of lithium-ion battery technology and operation. Furthermore, knowledge of permanent magnet synchronous motors (PMSMs) and induction motors (IMs) illuminates the workings of the electric vehicle powertrain. An important objective was to investigate the environmental advantages of electric cars. Even though electric cars don’t emit any pollutants into the atmosphere when they drive the article acknowledged that burning fossil fuels to produce electricity typically results in the release of additional emissions. But the long-term environmental advantages of electric cars were emphasized especially as the grid shifts to more sustainable energy sources. The article also discussed how electric vehicles may help to lessen noise pollution in urban areas. The study finds that although the initial costs of electric vehicles may be higher than those of cars with internal combustion engines over time the overall operating costs of EVs are lower. This can be explained by the fact that electricity is less expensive per unit than fuel and requires less maintenance. Furthermore, the topic of how large corporations like shipping companies could save money by converting to an electric fleet was covered. The advantages of this move were considered including the potential to set an example for other developing nations and a significant reduction in India’s reliance on oil. In summary electric cars present a viable future route for a more environmentally conscious transportation sector. Despite obstacles, government support, infrastructure for charging and advancements in battery technology are enabling a greater uptake of electric vehicles. India has a significant opportunity to reduce its dependency on fossil fuels and serve as a model for other developing nations wishing to transition to more environmentally friendly and sustainable modes of transportation thanks to its ambitious electric vehicle (EV) targets. References 1) https://solarsolution.co/ 2) https://www.energy.gov/energysaver/articles/how-lithium-ion-batteries- work#:~:text=The%20anode%20and%20cathode%20store,at%20the%20positive%20current%20collector. 3) https://www.youtube.com/watch?v=3SAxXUIre28&t=316s 4) https://batteryuniversity.com/article/bu-204-how-do-lithium-batteries-work 5) https://www.seai.ie/technologies/electric-vehicles/what-is-an-electric-vehicle/how-electric-vehicles-work/ 6) https://www.i4talk.com/threads/ice-vs-electric-power-and-torque-comparison.8801/ 7) https://www.global.toshiba/ww/products-solutions/battery/scib/product/module/sip/download/batteryschool/episode1.html 8) https://x-engineer.org/battery-electric-vehicle-bev/ 9) https://www.sciencedirect.com/topics/engineering/battery-electric-vehicle 10) https://www.quora.com/Can-an-electric-motor-act-as-both-a-generator-and-an-alternator-If-so-what-are-some- conditions-under-which-this-would-happen 11) https://www.chem.tamu.edu/rgroup/marcetta/chem362/HW/2017%20Student%20Posters/Lithium%20Ion%20Batteries.pdf 12) https://www.chegg.com/homework-help/questions-and-answers/lithium-ion-batteries-use-two-half-reactions-whose- standard-reduction-potentials-shown--co-q11586133 13) https://auto.economictimes.indiatimes.com/news/auto-components/what-are-the-types-of-electric-motors-which- motor-suits-your-ev-the- best/102099884#:~:text=PMSM%20is%20the%20most%20popular,applied%20in%20high%2Dspeed%20applications. https://www.kia.com/uk/about/news/what-are-the-benefits-of-torque-in-electric- cars/#:~:text=Another%20key%20advantage%20of%20the,Internal%20Combustion%20Engine%20(ICE) 14) https://www.kia.com/uk/about/news/what-are-the-benefits-of-torque-in-electric- cars/#:~:text=Another%20key%20advantage%20of%20the,Internal%20Combustion%20Engine%20(ICE).15) https://afdc.energy.gov/fuels/electricity-stations 16) https://avt.inl.gov/sites/default/files/pdf/fsev/compare.pdf 17) https://www.youtube.com/watch?v=fUDq0yS0-Mk 18) https://environment.yale.edu/news/article/yse-study-finds-electric-vehicles-provide-lower-carbon-emissions-through-additional 19) https://cleantechnica.com/2022/02/26/gas-cars-produce-more-supply-chain-emissions-than-evs-yale-university- study/#:~:text=%E2%80%9CA%20major%20concern%20about%20electric,vehicles%20would%20be%20exorbitantly%20expensive. 20)https://www.bain.com/insights/india-electric-vehicle-report- 2023/#:~:text=India's%20electric%20vehicle%20(EV)%20market,%2Dwheeler%20(3W)%20categories. 21)https://www.india-briefing.com/news/indias-prospects-as-an-ev-hub-consumer-market-and-production-capacity-30157.html/ 22)https://jmkresearch.com/category/electricvehicle/#:~:text=Electric%20Vehicles-,6.5%25%20of%20total%20vehicles%20sold%20i n%20India%20in%202023%20were,during%20the%20last%20calendar%20year. 23) https://www.youtube.com/watch?v=stq2E3sZYg0 24) https://www.irjmets.com/uploadedfiles/paper/issue_5_may_2022/24839/final/fin_irjmets1653897083.pdf 25) https://www.iea.org/policies/6201-national-electric-mobility-mission-plan-nemmp 26) https://diyguru.org/faq/top-10-ev-manufacturers-in-india/ 27) https://www.energy.gov/articles/history-electric-car 28) https://www.youtube.com/watch?v=-EG6rqA2vvA 29) https://www.youtube.com/watch?v=S6f1TbWRG3s 30) https://www.researchgate.net/figure/1-The-Structure-of-a-Permanent-Magnet-Synchronous-Motor_fig1_348740662/download? tp=eyJjb250ZXh0Ijp7ImZpcnN0UGFnZSI6Il9kaXJlY3QiLCJwYWdlIjoiX2RpcmVjdCJ9fQ 31)https://www.researchgate.net/publication/364737960 Electric_vehicles_a_review_of_their_components_and_technologies 32) https://www.researchgate.net/publication/350093457_A_Review_on_Electric_Vehicles_Technologies_and_Challenges Previous Next

Acerca de Skill Development Through our skilling initiatives we aim to work with the Government of India and MNCs to provide skilling to urban and rural communities across India. Through this vision, we seek to work with Anandilal Podar Trust to contribute and give back to our nation. The Anandilal Podar Trust, established in 1921, the flagship philanthropic initiative of Podar Enterprise has 100+ years of outstanding services towards society at large. APT has been running multiple schools, colleges, Private ITI, Sports Complex and have been front runners in setting up schools and vocational training for the differently abled. Since 2014, APT has engaged with National Skill Development Corporation (NSDC) , under the Ministry of Skill & Entrepreneurship as PIA for projects like Star, PMKVY. APT also empanelled under Rajasthan Skill & Livelihoods Development Corporation (RSLDC) for implementing skill based training in the healthcare sector. Our objective is to impact the lives of underprivileged youth by providing them skill, employment and livelihood. We have been implementing partners for large scale government projects including: PMKVY and RSLDC. We engage with corporate sector and PSU's as their preferred partner for implementing CSR Projects across pan-India. We work with marginalized youth, women, specially-abled, school & college drop-outs in both rural and urban India. Our industry-connected skilling model will create a visible impact on the lives of over a million uneducated & unemployed youth who enter the workforce each year. We also aspire to give back to society and contribute to India in becoming the Skill Capital of the World . We are working with the Sector Skill Council for People with Disabilities in states like Maharashtra and Rajasthan to train disabled candidates (hearing, sight and locomotive disabilities) and are employing them in various sectors like logistics, telecommunication, etc. Our Focus Sectors Are – Logistics, Telecommunication, Technology and Energy

< Back Iron Ore Global Supply and Consumption by Avyakt Agarwal Iron ores are rocks and minerals from which metallic iron can be economically extracted. Iron ore serves as the primary raw material for steel production. Iron ore is abundant worldwide, with major reserves located in countries such as Australia, Brazil, China, India, and Russia Iron ores are rocks and minerals from which metallic iron can be economically extracted. The ores are usually rich in iron oxides and vary in colour from dark grey, bright yellow, or deep purple to rusty red. Iron ore is the primary source of the world's iron and steel industries. It is therefore essential for the production of steel Global supply Iron ore serves as the primary raw material for steel production. Iron ore is abundant worldwide, with major reserves located in countries such as Australia, Brazil, China, India, and Russia. These nations account for the majority of global iron ore production, leveraging advanced mining technologies to extract and process vast quantities of ore. The iron ore supply chain involves complex logistics, including mining, beneficiation, transportation, and export, to meet the needs of steelmakers around the world. Market dynamics, geopolitical factors, and environmental regulations influence the global iron ore trade, shaping production patterns and pricing. Collaborative efforts among stakeholders, including mining companies, governments, and international organisations, are essential for ensuring a sustainable and resilient global supply of iron ore to support the steel industry's growth and development. Mining of Iron ore The mining of Iron ore involves a systematic process beginning with exploration and resource assessment. Geologists employ various techniques to identify viable ore deposits, assessing their size, quality, and location. Upon discovery, mine planning and development ensue, including the design of mine layouts and infrastructure. Drilling and blasting techniques are commonly used in open-pit mines to extract ore from the earth's surface. Drill rigs bore holes into the rock, into which explosives are inserted to break up the material. In underground mining, tunnelling methods are utilised to access deeper ore deposits. Once extracted, the ore undergoes crushing, grinding, and benefaction processes to separate the valuable minerals from the waste rock. The resulting concentrate is then transported to steel plants to become a finished product. Australia is the largest producer of iron ore in the world with 900 million tonnes per year. The Mount whaleback mine in Australia produces over 88million metric tons of iron ore. Brazil is the world's second-largest iron ore producer. In 2023, the iron ore mine production output in Brazil was 440 million tonnes. The Serra Norte Mining Complex is the world’s largest iron ore mines in Brazil and produces 109 million tonnes per year. More than 90% of India's overall iron ore shipments go to neighbouring China Types of iron ore There are two types of iron ore magnetite and hematite. Magnetite (Fe3O4) with iron content of 72 percent, while hematite (Fe2O3) has an iron content of 70 percent and is widely used and common to find. The majority of the iron ore found in India is Haematite. Magnetite typically appears black or dark brown with a metallic lustre, contrasting with hematite's variable colour range from black to reddish-brown, often exhibiting a reddish streak. Magnetite is strongly magnetic, whereas hematite is non-magnetic. Magnetite is used in numerous industrial applications such as water filtration systems, magnetic recording and medical equipment. Hematite is a cheaper alternative for steel production compared to Magnetite and has been extensively mined since the Bronze Age Quality of iron ore:- The quality of iron ore plays a pivotal role in the efficiency, cost-effectiveness, and sustainability of iron and steel production. High-quality iron ore, characterized by high iron content and low impurity levels, is essential for ensuring the smooth operation of ironmaking and steelmaking processes. Superior ore quality leads to higher productivity, lower energy consumption, reduced emissions, and improved product quality in the steel industry. It enables manufacturers to produce high-grade steel products with desirable properties. Therefore to judge the quality of iron we judge it by how much iron is there in 100 grams, like fe 64 means 64 grams of iron per 100 grams (Fe refers to the percentage of iron content in the iron ore ) In steelmaking, iron ore with a high iron content, typically above 62%, is preferred. Therefore, iron ore with an iron content of around 62% Fe or higher is typically used to make steel. Higher iron content in the ore results in more efficient steel production processes, lower energy consumption, and higher-quality steel products. However, the specific iron content required may vary depending on the steelmaking process and the desired properties of the final steel product. Majority (over 85%) of the hematite ore reserves are of midgrade (+62% Fe) in India. Though Australia leads in the quantity of iron Ore mined, Brazil dominates the quality game. Carajas Mine Complex owned by Vale provides Iron ore containing around 66%Fe (Iron). The Australian mines provide iron ore with Fe around 62%. India only exports low grade iron which is not used in the country.* Iron Ore Being Converted to Steel Global Consumption The consumption of iron ore is fundamental to various industries and sectors worldwide, serving as a cornerstone material in modern civilization. Iron finds extensive utilization across a spectrum of applications, spanning construction, manufacturing, transportation, and infrastructure development. In construction, iron is employed for its structural integrity in the form of reinforcing bars and frameworks, providing essential support and stability to buildings, bridges, and other infrastructure projects. In manufacturing, iron serves as a foundational material for the production of machinery, equipment, and tools, facilitating industrial processes across diverse sectors. Transportation relies heavily on iron ore-derived steel, forming the core of automobiles, ships, railways, and aerospace structures due to its strength, safety, and relatively light weight. Due to global population growth, urbanization, and industrialization the demand for steel, iron ore is expected to increase. Pricing of iron ore The pricing of iron ore, a crucial commodity in global industrial processes, is influenced by a myriad of factors ranging from supply and demand dynamics to geopolitical tensions and economic policies. Historically, iron ore pricing has been volatile, responding sharply to fluctuations in demand from major steel-producing countries like China and changes in supply due to disruptions in major mining regions such as Australia and Brazil. Additionally, shifts in environmental regulations and technological advancements in mining and processing also play a significant role in shaping iron ore prices. With its pivotal role in steel production, the pricing of iron ore carries implications not only for mining companies and steel producers but also for a wide array of industries dependent on steel products, making it a focal point of analysis for economists and policymakers alike. (Fe 62-64) How do steel prices affect the world Fluctuations in steel prices can ripple through an economy, impacting various sectors and key economic indicators. Firstly, steel prices influence the construction industry, a major consumer of steel, affecting the cost of infrastructure projects and residential/commercial developments. Higher steel prices can inflate construction costs, potentially leading to reduced investment in real estate and infrastructure, thereby impacting economic growth and GDP. If the steel prices rise India, then building houses, construction will become expensive Additionally, steel is a significant component of international trade, with many countries both importing and exporting steel. When steel prices rise, it can affect a country's trade balance, as higher import costs may lead to increased trade deficits. Conversely, steel-exporting nations may experience enhanced export revenues during periods of elevated steel prices. Such shifts can influence a country's overall balance of payments and international competitiveness. Furthermore, fluctuations in steel prices can have cascading effects on related industries, such as manufacturing, transportation, and energy, which are vital contributors to GDP. Therefore, the volatility of steel prices can reverberate throughout the economy, impacting GDP growth, trade dynamics. Large Companies · Australia being the largest producer of iron ore has a 37.6 contribution to the total iron produced in the world. · Brazil is the second largest with the world’s largest mines The Serra Norte Mining Complex · The China Bouwa Steel group is the largest steel factory and consumes over 900 million tonnes of steel. · Arcelor Mittal is the second largest steel company in the world`2 with a revenue of 68 billion dollars · India’s largest steel company is jsw steel which produces over 28 million metric tons. · Baildadila Iron ore mines is India’s largest iron ore mines (owned by NMDC) followed by rungta steel Bibliography Maqro: - https://www.maqro.com.au/blog/iron-ore/what-are-the-differences-between-magnetite-and-haematite-iron-ore/ *Indian bureau of Mines Reuters:- https://www.reuters.com/markets/commodities/indias-sponge-iron-producers-seek-duties-curb-iron-ore-exports-2024-03-20/#:~:text=FIMI%20has%20argued%20that%20India,widely%20consumed%20within%20the%20country . Nasdaq: - https://www.nasdaq.com/articles/iron-ore-poised-to-hit-$150-in-2024-on-chinese-stimulus-analysts-say Global steel:- https://gmk.center/en/news/worldsteel-predicts-recovery-of-global-steel-demand-in-2023-by-2-3/ Vedantu: - https://www.vedantu.com/chemistry/hematite Wikipedia: https://en.wikipedia.org/wiki/Steelmaking#:~:text=To%20make%20steel%2C%20the%20iron,type%20of%20coal%20called%20coke . Statista:- https://www.statista.com/statistics/271979/the-largest-steel-producers-worldwide-ranked-by-production-volume/ - :~:text=Largest steel producers worldwide based on production volume 2022&text=In 2022, China's Baowu Group,was second in the ranking. Visual capitalist: - https://www.visualcapitalist.com/visualizing-the-worlds-largest-iron-ore-producers/ Previous Next

< Back Consumer Pricing Behavior: An In-depth Analysis of Price Perception and Decision-Making by Samaarra Agarwal Consumer pricing behavior is a key and complex component of the contemporary market. Here, we analyze how people make decisions in their quest of value, which sits at the nexus of psychology, economics, and marketing. Abstract Consumer pricing behavior is a key and complex component of the contemporary market, influencing the dynamics of companies, markets, and economies all over the world. A fascinating perspective through which to analyze how people make decisions in their quest of value is provided by this topic, which sits at the nexus of psychology, economics, and marketing. Consumers today have more power than ever because of an abundance of options and unmatched access to information, and their pricing behavior has changed as a result. This paper explores the complex world of consumer price behavior with the goal of illuminating the different forces, motives, and influences that influence people's decision-making around pricing. As buyers, we continually assess pricing, contrast items, and look for the greatest offers, all of which have an impact on the things we buy. Understanding these nuances is essential for both politicians working to establish a just and consumer-friendly economic climate as well as businesses trying to prosper in cutthroat marketplaces. 1. Introduction Consumer pricing refers to the various prices paid by buyers of a good or service. The study of consumers and the methods they employ to select, use (consume), and discard goods and services, as well as the emotional, mental, and behavioral responses of consumers, is known as consumer behavior. For firms to develop powerful marketing tactics that may affect customers' decision-making processes, understanding consumer behavior is essential. Businesses may target certain demographics with their marketing campaigns, increase customer loyalty, and spot new trends by studying consumer behavior. Additionally, by using this information, organizations may stay one step ahead of the competition and adjust to shifting consumer preferences. Every effective marketing plan must take into account customer behavior. Businesses may create efficient marketing strategies that satisfy the demands of their target market by researching the elements that affect customer behavior. Understanding consumer behavior is crucial for marketers because it enables them to better communicate with customers. They can close the market gap and pinpoint the items that are required and the products that are no longer in use by knowing how customers choose a product. Marketing professionals may display their goods in a way that has the most influence on consumers by researching consumer behavior. Understanding consumer purchasing behavior is the key to connecting with, involving, and convincing potential customers to make a purchase from you An examination of customer behavior should show: What consumers think and how they feel about various alternatives (brands, products, etc.)? What influences consumers to choose between various options? Consumers’ behavior while researching and shopping? How consumers’ environment (friends, family, media, etc.) influences their behavior? Numerous factors frequently affect consumer behavior. Marketers should research customer buying trends and purchase behaviors. Most of the time, companies only have control over certain factors that affect customer behavior. There are three categories of factors that influence consumer behavior: Personal factors: Demographics (age, gender, culture, etc.) can have an impact on a person's interests and attitudes. Psychological aspects: a person's views and attitudes will determine how they react to a marketing message. Social variables such as family, friends, money, level of education, and social media all affect consumer behavior. 2. Consumer behavior There are 4 main types of consumer behavior which include: Complex buying behavior: When consumers purchase expensive, occasionally purchased goods, they exhibit this kind of behavior. They play a significant role in the research that customers do before making a high-value investment. Consider purchasing a home or a vehicle; these are examples of complicated purchasing behaviors. Dissonance- reducing buying behavior: Despite being heavily involved in the purchasing process, the customer finds it challenging to distinguish different brands. Dissonance can happen when a customer fears they will regret their decision. Consider purchasing a lawnmower. Choosing one will be dependent on cost and convenience, but once you've made the purchase, you'll want to be sure you picked the appropriate one. Habitual buying behavior: Consumers who make habitual purchases show relatively little interest in the product or brand category. Consider going grocery shopping: you visit the store and purchase the bread of your choice. You don't have a strong brand loyalty; you just act in a repetitive pattern. Variety- seeking behavior: In this instance, a customer buys a different product because of desire for variety rather than dissatisfaction with the prior one. like when you experiment with different smells of shower gel. There are multiple factors that affect consumer behavior for instance: 1. Promotional efforts Purchase decisions are significantly influenced by marketing initiatives. They can even encourage customers to switch brands or choose more costly alternatives if done well, consistently, and with the proper marketing message. Marketing initiatives, like Facebook advertisements for eCommerce, may also serve as reminders for goods and services that must be purchased frequently but aren't always front of mind for customers (like insurance, for instance). Impulse purchases might be influenced by a persuasive marketing message. 2. Economic conditions Economic factors play a significant role, particularly for expensive goods (like houses or vehicles). Regardless of their financial obligations, customers are known to become more self-assured and prepared to indulge in purchases in a healthy economic climate. For more expensive purchases, the decision-making process takes longer and is subject to more subjective influences. 3. Individual preferences Personal characteristics, like preferences, beliefs, morals, and priorities, can also have an impact on how consumers behave. Personal views are extremely potent in sectors like fashion or food. Advertisements may undoubtedly affect behavior, but ultimately, consumer preferences have a big impact on their decisions. No matter how many advertisements for burger joints you see, if you're a vegan, you won't start eating meat as a result. 4. Societal impact Consumer behavior is also influenced by peer pressure. Our decisions may be greatly influenced by what our friends, neighbors, close friends, coworkers, and family members believe or do. Consumer behavior is impacted by social psychology. For instance, choosing fast food over prepared meals is one such instance. Social and educational aspects can influence one another. 5. Purchasing power Not to mention, our ability to buy things has a big impact on how we behave. You will think about your budget before making a buying choice unless you are a billionaire. Even if the product is top-notch and the marketing is spot-on, you won't buy it if you can't afford it. Marketers will be able to identify eligible consumers and provide better outcomes by segmenting consumers based on their purchasing power. 3. The influence of price on demand Demand refers to the quantity of goods consumers are willing and able to buy at different price levels, in a given period of time, ceteris paribus. The price of a product and its demand are negatively correlated; when price increases, demand decreases and vice versa. The figure below illustrates this relationship. Fig 1: Demand curve The quantity demanded of goods and services are shown on the x axis while the price of goods and services are on the y axis. When the price was P A the quantity demanded was Q A shown by point A. However, when the price decreases to P B the quantity demanded increases to Q B shown by point B. This indicates that when price increases, consumers are willing and able to buy less of the goods as it becomes more expensive for them, which affects their behavior. Hence, it is necessary for producers to supply the quantity of goods and services which is equal to the demand of the goods and services, known as the equilibrium quantity. The diagram below illustrates this. Fig 2: Equilibrium demand and supply point Fig 2 shows that the intersection of the demand and supply curve is the equilibrium point where quantity demanded is the same and quantity supplied. The equilibrium price is price p and the equilibrium quantity is quantity q. At this point there is allocative efficiency because the optimum amount of goods and services are being produced from society's point of view. 4. Behavioural Economics Conventional economic models presuppose that customers make logical choices based on all available information, while behavioral economics acknowledges that humans frequently depart from this idealized behavior as a result of social influences, emotional variables, and cognitive biases. Anchoring: When making decisions, consumers frequently use the first piece of information they learn as an "anchor" and base their future choices on it. In terms of pricing, this means that consumers' opinions about whether or not a product or service is a good value can be significantly influenced by the price they initially see for it. Loss Aversion: Individuals often experience greater sorrow from losses than happiness from wins. Customers may be less receptive to price reductions than price rises, which means that this concept affects how they behave while making pricing decisions. Mental Accounting: People frequently divide up their finances into several mental accounts, such as "savings," "entertainment budget," and "grocery budget." Irrational behavior may result from this, such as being prepared to spend more in one area while practicing modest living in another. Prospect Theory: This theory describes how individuals assess possible results. It implies that buyers are more perceptive to shifts in their financial situation and could be willing to take on greater risk in order to minimize losses. This may have an impact on how customers view sales and discounts, which has consequences for pricing strategies and decision-making. Herd Behaviour: People are frequently swayed by the actions of others, which results in herd mentality. Pricing and customer behavior may be impacted by this, since people may be more inclined to buy a product if they observe others doing the same. Endowment Effect: People regard things they already own more highly than they do new ones. People may be more hesitant to part with products at a certain price or may overvalue the objects they already own, which can have an impact on pricing tactics. Confirmation bias : The tendency for consumers to reject information that contradicts their prior opinions in favor of information that supports those assumptions. By offering data to bolster their assertions about price and products, marketers may take advantage of this prejudice. Effects of Framing: Presentational strategies have a big influence on how people behave. Decisions on what to buy can be influenced by different methods to communicate the same price, such as expressing it as a monthly cost rather than an annual cost. Choice Overload: When customers are overloaded with options, they might feel confused and find it tough to decide. Customers may find it easier to make decisions if price alternatives are made simpler. Nudge Theory: Nudges are subtle adjustments to the way options are shown that have the power to affect customer behavior without limiting their options. For instance, making healthier food alternatives more visible might promote better eating habits. 5. Apple case study One well-known example of a business that has successfully used customer behaviour to guide its pricing strategy is Apple Inc. The corporation is well-known for charging high prices for its goods, which include the iPad, iPhone, and Mac PCs. This case study looks at how Apple sets premium prices by taking advantage of customer behaviour and how it affects its market share and profitability. Apple's price approach contributes to the perception that their products are high-end and premium. Apple has established an image of exclusivity and luxury by playing on the psychology of customer behaviour. Consumers frequently believe that greater costs equal better quality, and Apple has established itself as a pioneer in this area. Consumer behaviour and buying decisions are influenced by this view. Elasticity of Demand: Apple is aware that their clientele, who are often called "Apple loyalists," have inelastic demand. This indicates that these customers stick with the brand and that their purchase habits are not much impacted by price increases. Apple maintains premium pricing without seeing a major decline in its client base by taking advantage of this inelastic demand. Apple has made significant investments in product differentiation. They evoke exclusivity by providing distinctive characteristics and a smooth ecology of goods and services. Consumer behaviour demonstrates that buyers are prepared to pay more for goods they consider to be exceptional or unique. Psychological Pricing: To make a product seem more accessible, Apple regularly uses psychological pricing strategies, such as placing costs slightly below a round number (for example, $999 instead of $1,000). This capitalises on the inclination of consumers to concentrate on the leftmost digits and believe that the product is within a cheaper price range. Revenue Maximisation: By raising the price of its products, Apple is able to maximise its revenue through pricing strategy. Apple continues to be very profitable even when its sales volume may be lower than that of competitors that offer alternatives at cheaper prices. Brand Loyalty: Apple has developed a strongly devoted following of customers by evoking an aura of exclusivity and excellence. Customer behaviour suggests that Apple customers tend to stick with the brand, which lowers the chance of customer turnover. Market Share: Due to its premium pricing approach, Apple, particularly in price-sensitive areas, does not achieve a substantial market share in terms of unit sales. Nonetheless, this is consistent with the business's emphasis on profit margins and the development of a unique market niche. Apple's pricing strategy, which prioritises innovation and product uniqueness, has enabled it to sustain a competitive edge. This sets Apple apart from rivals that compete mostly on pricing. Apple Inc.'s pricing approach serves as evidence of the significant influence that customer behaviour has on price determinations. With ramifications for its profitability and market position, Apple has maintained a premium pricing strategy that continues to be effective by understanding consumer psychology and utilising the concepts of perceived value, brand loyalty, and inelastic demand. In order to accomplish company goals, it is critical to match pricing tactics with customer behaviour, as this case study demonstrates. 6. Conclusion Consumers have more power than ever in an age characterized by a wealth of options and unmatched access to information. As a result, their pricing practices have changed, necessitating a thorough investigation of the different factors, incentives, and influences that shape their decision-making. As consumers, we constantly compare products, assess pricing, and look for the greatest offers; these actions have a significant impact on the things we purchase. This knowledge is critical for firms looking to prosper in fiercely competitive markets and for politicians trying to create fair and consumer-focused economic environments. Conclusively, the research undertaken on consumer pricing behavior indicates a multifaceted interaction of variables influencing people's decision-making in the marketplace. This complexity includes characteristics of the individual, the state of the economy, personal preferences, the impact of society, and purchasing capacity. Developing successful marketing strategies, focusing on certain demographics, and adjusting to shifting market conditions all depend heavily on an understanding of customer behavior. Together with the basic link between price and demand, the four main consumer behavior types found in this research offer useful information to companies looking to maximize their pricing tactics. Furthermore, behavioral economics' significant influence emphasizes how important it is for companies to take emotional and cognitive biases into consideration when determining pricing. In today's environment of consumer empowerment, with a wealth of options and easy access to information, responding to changing consumer behavior is indispensable for success. Previous Next