Feature
US India trade body honours Shobhana Bhartia, Indra Nooyi
Washington: Shobhana Bhartia, Chairperson and Editorial Director of HT Media and Indra Nooyi, Chairman and CEO of PepsiCo, have been presented US-India Business Council’s (USIBC) prestigious Global Leadership Awards.
The two were honoured by the largest bilateral US trade association made up of 300 top US and Indian companies, Monday for their contributions and commitment to driving a more inclusive global economy and for their roles as women leaders.
The awardees were introduced at the annual USIBC Leadership summit by Purna Saggurti, Chairman Global Corporate & Investment Banking, Bank of America Merrill Lynch who also serves as one of USIBC’s board of directors.
“These extraordinary leaders have made a lasting impact on their industries and on US-India relations,” said Saggurti. “They have been a true inspiration to business and leaders across the globe and have raised the bar for all of us.”
“As the representative of a media group that realises the importance of looking at both India Shining, and the Other India to get a real picture of what is happening in our country, and as a woman leader in a nation where women are finally coming into their own, I am delighted to receive this award,” said Bhartia.
“Our two countries, both democracies, have a strong and free media and I see increasing opportunities for collaboration as media and technology companies from India and the US navigate the evolving digital landscape,” she said.
“The USIBC plays a critically important role in strengthening the relationship between two great nations,” said Indra Nooyi.
“There are tremendous opportunities ahead to work together in new ways that capitalize on our collective strengths and pave the way to shared prosperity for our countries, our companies and our citizens.”
Noted Indian-American artist, Natvar Bhavasr who is known for his abstract expressionism and “colour-field” painting was awarded the Artistic Achievement Award.
“My work aims to transcend boundaries and I am honoured to receive this award that recognizes my Indian roots and my training in arts that took place in the United States,” he said.
“I would not be the artist I am today had it not been for the inspirations that have guided me in my absorbing the gifts offered by both cultures, my birthplace India and my half a century’s participation in the creative life of New York City,” Bhavsar added.
The State Scores Extra High on Gaming-Friendly Industry Index
Meghalaya scored 92.85 out of 100 possible points in a Gaming Industry Index and proved to be India’s most gaming-friendly state following its recent profound legislation changes over the field allowing land-based and online gaming, including games of chance, under a licensing regime.
The index by the UK India Business Council (UKIBC) uses a scale of 0 to 100 to measure the level of legalisation on gambling and betting achieved by a state based on the scores over a set of seven different games – lottery, horse racing, betting on sports, poker, rummy, casino and fantasy sports
Starting from February last year, Meghalaya became the third state in India’s northeast to legalise gambling and betting after Sikkim and Nagaland. After consultations with the UKIBC, the state proceeded with the adoption of the Meghalaya Regulation of Gaming Act, 2021 and the nullification of the Meghalaya Prevention of Gambling Act, 1970. Subsequently in December, the Meghalaya Regulation of Gaming Rules, 2021 were notified and came into force.
All for the Tourists
The move to legalise and license various forms of offline and online betting and gambling in Meghalaya is aimed at boosting tourism and creating jobs, and altogether raising taxation revenues for the northeastern state. At the same time, the opportunities to bet and gamble legally will be reserved only for tourists and visitors.
“We came out with a Gaming Act and subsequently framed the Regulation of Gaming Rules, 2021. The government will accordingly issue licenses to operate games of skill and chance, both online and offline,” said James P. K. Sangma, Meghalaya State Law and Taxation Minister speaking in the capital city of Shillong. “But the legalized gambling and gaming will only be for tourists and not residents of Meghalaya,” he continued.
To be allowed to play, tourists and people visiting the state for work or business purposes will have to prove their non-resident status by presenting appropriate documents, in a process similar to a bank KYC (Know Your Customer) procedure.
Meghalaya Reaches Out to a Vast Market
With 140 millions of people in India estimated to bet regularly on sports, and a total of 370 million desi bettors around prominent sporting events, as per data from one of the latest reports by Esse N Videri, Meghalaya is set to reach out and take a piece of a vast market.
Estimates on the financial value of India’s sports betting market, combined across all types of offline channels and online sports and cricket predictions and betting platforms, speak about amounts between $130 and $150 billion (roughly between ₹9.7 and ₹11.5 lakh crore).
Andhra Pradesh, Telangana and Delhi are shown to deliver the highest number of bettors and Meghalaya can count on substantial tourists flow from their betting circles. The sports betting communities of Karnataka, Maharashtra, Uttar Pradesh and Haryana are also not to be underestimated.
Among the sports, cricket is most popular, registering 68 percent of the total bet count analyzed by Esse N Videri. Football takes second position with 11 percent of the bets, followed by betting on FIFA at 7 percent and on eCricket at 5 percent. The last position in the Top 5 of popular sports for betting in India is taken by tennis with 3 percent of the bet count.
Local Citizens will Still have Their Teer Betting
Meghalaya residents will still be permitted to participate in teer betting over arrow-shooting results. Teer is a traditional method of gambling, somewhat similar to a lottery draw, and held under the rules of the Meghalaya Regulation of the Game of Arrow Shooting and the Sale of Teer Tickets Act, 2018.
Teer includes bettors wagering on the number of arrows that reach the target which is placed about 50 meters away from a team of 20 archers positioned in a semicircle.
The archers shoot volleys of arrows at the target for ten minutes, and players place their bets choosing a number between 0 and 99 trying to guess the last two digits of the number of arrows that successfully pierce the target.
If, for example, the number of hits is 256, anyone who has bet on 56 wins an amount eight times bigger than their wager.
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