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The All India Digital Cable Federation (AIDCF) has issued a strong objection to the Telecom Regulatory Authority of India’s (TRAI) recent recommendation to reduce the license fee for Direct-to-Home (DTH) operators from 8% to 3% of Adjusted Gross Revenue (AGR), with a phased plan to eliminate it entirely by FY 2026–27.

In a detailed representation (a copy of which is with Storyboard18) submitted to the Ministry of Information and Broadcasting (MIB), AIDCF warned that such a move would seriously undermine market equity, distort competition between cable and DTH platforms, and inflict significant losses on the public exchequer.

The letter, addressed to Prabhat, Additional Secretary at MIB, is in response to TRAI’s February 21, 2025, recommendations under the framework for service authorisations for broadcasting services as outlined in the Telecommunications Act, 2023.

Spectrum Given Free, But Worth Thousands of Crores

The AIDCF pointed out that DTH operators are currently allocated spectrum in the Ku band on an administrative basis — meaning, free of charge. On average, a DTH operator uses 2,592 MHz of spectrum to uplink and downlink over 900 television channels, using about 36 satellite transponders.

For this spectrum usage, DTH operators pay around ₹230 crore annually in transponder rental to satellite agencies and an additional ₹11.2 crore to the Department of Telecommunications (DoT). Alongside, they pay approximately ₹210 crore per year as license fees. Altogether, the average annual payment amounts to ₹450 crore per DTH operator.

However, AIDCF emphasized that the real cost of this spectrum — if it were auctioned — would be significantly higher. Based on interpolated figures from the DoT’s March 2024 auction reserve prices for different frequency bands, AIDCF estimates that the annual cost of 2,592 MHz spectrum would amount to ₹2,280 crore per operator.

The Federation stated, “The tentative annual loss to the exchequer, if this spectrum was auctioned instead of being bundled with license fees, stands at ₹2,070 crore per operator.”

It further added that the DoT’s reserve price in 2023 for the 3,300 MHz band was ₹355 crore per MHz, while for the 26 GHz band, it was ₹7.61 crore per MHz. Using interpolation, the AIDCF calculated the price for the 15 GHz band — which includes Ku-band frequencies — to be around ₹176 crore per MHz for pan-India usage.

AIDCF argued, “Reducing or waiving the license fee for DTH operators, despite their reliance on free spectrum, would deepen this inequity between cable and DTH operators and cause a massive loss to the public exchequer.”

Cable Operators Face Higher Costs, Less Advantage

The Federation noted that, unlike DTH players who benefit from free spectrum, cable TV operators bear heavy infrastructure and regulatory costs. They are required to pay Right of Way (RoW) charges of up to ₹3,000 per pole per year, along with additional fees for permissions related to underground and overhead cabling.

Capital expenditure for underground cabling stands at ₹8 lakh per kilometer, not including annual maintenance costs. In contrast, DTH operators face minimal capital expenditure for customer acquisition and do not incur sunk infrastructure costs when customers churn.

AIDCF stated, “For acquiring each new customer, a Cable TV MSO and LCO must invest about ₹5,000, while DTH operators bear negligible incremental CAPEX.”

Flawed Consultation and Unjustified Comparison with Telecom Sector
The cable federation criticized TRAI’s consultation process from January 2023 as non-transparent. It noted that although the consultation paper asked stakeholders to comment on various aspects of DTH licensing, it never explicitly invited views on reducing the license fee from 8% to 3%.

“Stakeholders were not given an opportunity to respond to the issue of fee reduction,” the letter stated. It alleged that TRAI relied on responses to a generic question ("Any other comments") and used those to justify the fee cut, ignoring broader stakeholder feedback that could have opposed it.

Furthermore, AIDCF disputed TRAI’s rationale of aligning the DTH license fee with the 8% Unified License fee paid by telecom operators. It clarified that telecom operators contribute 5% of that amount to the Universal Service Obligation Fund (USOF), a requirement that does not apply to DTH operators.

“The DTH license fee, originally set at 10% and later reduced to 8% in 2020, was never tied to the USOF and was bundled with free spectrum,” AIDCF emphasized.

It added that comparing DTH fees with telecom licenses overlooks the substantial benefits DTH players receive and risks creating regulatory arbitrage.

Cable Industry at Risk

AIDCF warned that if TRAI’s recommendation is accepted, it would disrupt the level playing field irreversibly. “DTH operators already enjoy regulatory and economic advantages. Reducing their cost base any further will accelerate subscriber churn from digital cable to DTH and other unregulated platforms like Free Dish, FAST TV, OTTs, and digital DPOs,” the letter noted.

The federation cautioned that such an outcome could destabilize the broadcasting ecosystem and threaten the livelihoods of nearly 10 lakh individuals dependent on the cable TV industry.

“This will also be detrimental to India’s rural digital infrastructure and the government’s Digital India goals, which rely significantly on cable TV networks,” the federation said.

Appeal to Government

Concluding the letter, the AIDCF urged the Ministry to reject TRAI’s recommendation outright. “If this recommendation is accepted, it will distort the market balance and force the closure of many cable TV operations — including 880 multi-system operators and 1.6 lakh local cable operators — already struggling against OTT and digital platforms,” it warned.

The representation was also marked to senior officials at the Ministry of Information and Broadcasting, including Secretary Sanjay Jaju, Additional Director Gauri Shankar Kesarwani, and Deputy Secretary Amit Kumar.

<a href="https://www.storyboard18.com/television/exclusive-cable-operators-urge-mib-to-fast-track-broadcasting-services-regulation-bill-59199.htm">Read More: EXCLUSIVE: Cable operators urge MIB to fast track Broadcasting Services (Regulation) Bill</a>

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AIDCF to MIB: DTH giants getting ‘Free Ride’ on public spectrum, opposes fee cut

Move over spreadsheets — there's a new advisor in the boardroom, and it's not wearing a tie. It’s holding a crystal. Or a deck of tarot cards. Or maybe just peering intently at your company’s “birth chart.”

In a surprising corporate plot twist, the C-suite is now sharing space with stargazers. Indian companies — from scrappy startups to global conglomerates — are increasingly turning to astrologers, tarot readers, and numerologists not just for cosmic curiosity, but for real business decisions. 

Yes, you read that right: your next appraisal might just depend on your boss’s moon sign.

From media agencies to brand CEOs, VCs, and founders are now increasingly consulting the stars as if they are the sales charts before making million-dollar decisions. Whether it’s picking the perfect launch date, deciding on mergers, hiring the “cosmically aligned” employee, or even overhauling brand colors, astrology has gone from your aunt’s Sunday hobby to a surprisingly serious seat at the executive table.

“Absolutely, and far more often than people imagine,” says Pratik Pandey, CEO of AstroSage AI, when asked if India Inc. is consulting astrologers for business decisions. According to him, some founders now start their mornings not with a stand-up meeting, but a five-minute sync with an astrologer. Think daily horoscopes, but for high-stakes negotiations and funding calls.

“In one case, a tech founder checks astrological timings to schedule meetings — and since he started, his company has seen 3x growth,” Pandey notes. After the pandemic, this trend has only accelerated. With volatility at an all-time high, leaders are looking for insights that aren’t in the balance sheets — and the stars deliver.

Astrology platforms like Astroyogi have noted a spike in consultations during appraisal season — especially between March and April — with career queries jumping 50–60%. Gen Z dominates this astrological awakening, making up over 90% of consultations, with Bengaluru leading the cosmic consulting charge.

A breakdown of the data reveals a gender distribution of 70% men to 30% women. Preferences among these users lean towards live sessions, with Tarot readings and Vedic astrology being the most sought-after services, comprising 60% and 40% of the consultations respectively. 

However, the interest in these fields is not uniform across the country - certain cities have emerged as key centers for such consultations. Bengaluru leads with a 60% share of queries, followed by Delhi at 50%, and both Mumbai and Hyderabad at 40%.

Corporate pros from media agencies, legacy brands and D2C hailing from FMCG, Automobile, fintech, pharma, among other sectors are logging in for live tarot sessions to prep for promotions, resolve team issues, or simply figure out if Mercury retrograde is why the quarterly review went sideways.

Hiring Under the New Moon

Astrologers are no longer just predicting marriages — they’re weighing in on mergers.

Clairvoyant and tarot reader Maaninii Shah breaks it down: today’s leaders are using astrology and tarot to plan product launches, pick leadership hires, decide when to restructure, and even run full moon rituals to set business intentions.

A few examples from her roster:

A startup founder avoided a bad partnership after a tarot card session flagged "mismatched values."

An exec from a media agency delayed relocating for work — until the stars aligned, and now he’s thriving abroad.

A team head smoothed over office politics thanks to insights from a tarot reading.

Shah says, "Two startup co-founders came for a joint tarot consultation. They were having repeated disagreements about business direction. The reading revealed deep differences in values and working styles. They decided to restructure their roles instead of dissolving the business. This clarity saved their partnership and allowed them to scale peacefully." 

Astro-numerologist Gautham Azad takes it a step further. His clients include venture capitalists who assess startup “vibes” — quite literally — before investing. It's not just about ROI anymore; it’s about ROE — Return On Energy.

Azad even advised IPL team Royal Challengers Bengaluru to tweak their jersey design — swapping out black for blue and gold to align with “success vibrations.” They also redesigned their logo using the Golden Ratio for energetic harmony.

Azad says, "Several cricketers have benefited from our jersey number corrections, which enhanced their personal and professional trajectories. Our clients include leading venture capitalists who use our insights to identify startups with long-term potential — not just financially, but vibrationally."

Brooke Bond’s Starry Destiny

Here's a story straight out of the boardroom archives — with a twist.

R Gopalakrishnan, former Vice Chairman of Hindustan Unilever Limited, recalled in a viral LinkedIn post how Brooke Bond's fate was, well, written in the stars.

At an employee fair, he jokingly asked an amateur astrologer, “Can you do a horoscope for a company?” The astrologer — a company employee — took the incorporation date of Brooke Bond India Ltd. (September 26, 1912, around noon) and offered a stunningly accurate reading:

“This person has married several partners but found no joy. Soon, this person will marry again, take the partner’s name — and find prosperity.” Two years later, Brooke Bond merged into Hindustan Lever. The name “Brooke Bond” was dropped. A bigger, stronger identity emerged.

Coincidence or cosmic foresight? We’ll let you decide.

To be clear, no one is suggesting CEOs should throw away their dashboards and start doing reiki during board meetings (although, let’s be honest, that sounds kind of amazing).

But there’s a clear shift happening. Intuition is entering strategy. Data still drives the car, but now, corporates are increasingly using astrology as a shotgun. As Pratik Pandey puts it: “They trust data. And they respect the stars too. While analysts crunch numbers, some CEOs check their star charts before they sign anything.”

He shares an anecdote about a tech founder who begins each day with a five-minute sync with his astrologer panel — choosing windows for negotiations and scheduling meetings based on planetary positions.

So next time your pitch gets delayed, your funding call is rescheduled, or your startup launches on the new moon — it may not be bad planning.

It may just be Mercury doing its thing.

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From media planners to brand CEOs, Astrology secretly claims a seat in the boardroom

Every Indian summer has one undeniable protagonist — the mango. And as National Mango Day (July 22) nears, brands across sectors, food, fashion, beauty, wellness, and hospitality are going all out to pay tribute to the golden fruit that has defined our palates, memories and moods for generations. 

Whether it’s a bottle of Maaza, a French patisserie creation, a mango-hued dress or a SPF-infused lip balm, the mango is finding centre stage in campaigns, products and storytelling — proving once again why it remains not just a fruit, but a feeling.


Maaza: Bottling Everyday Wins with Mango and AI

For Coca-Cola’s mango beverage brand Maaza, the love story with mango is eternal. “Maaza has always stood for the timeless love India holds for mangoes,” says Ajay Konale, Director - Marketing, Nutrition Category, Coca-Cola India and Southwest Asia. Through campaigns like ‘Maaza Ho Jaaye’ and the recent ‘Chhoti Waali Jeet’, the brand combines nostalgia with tech-powered storytelling. Using an AI platform, Maaza transforms small daily victories into personalised animated videos, ensuring mango memories are not just consumed, but shared.

<a href="https://images.storyboard18.com/storyboard18/2025/07/Maaza-MazaHoJaye-2025-07-286b053af7370e9939e793355b3a6112.webp"><img src="https://images.storyboard18.com/storyboard18/2025/07/Maaza-MazaHoJaye-2025-07-286b053af7370e9939e793355b3a6112-1024x576.webp" alt="" width="750" height="422" class="aligncenter size-large wp-image-75471" /></a>


NIC Ice Creams: Farm to Freezer Freshness

<img src="https://images.storyboard18.com/storyboard18/2025/07/NIC-Ice-Cream_Mango_Image-2025-07-d93dc767035e221ad5ce08adf54c9b3f-1024x512.jpeg" alt="" width="750" height="375" class="aligncenter size-large wp-image-75470" />

At NIC Ice Creams, mango is a round-the-year bestseller. “We source Alphonso mangoes directly from Ratnagiri farms,” says Raj Bhandari, Director, Walko Foods. Their mango ice cream, studded with real fruit chunks, taps into both indulgence and authenticity. The brand is now exploring new regional mango varieties to create flavour fusions.


Two Brothers Organic Farms: Pickles Packed with Tradition


<img src="https://images.storyboard18.com/storyboard18/2025/07/Satyajit-Hange-Co-founder-Two-Brothers-Organic-Farms-2025-07-d9a0f000a1b68da9712c96faf4f1d231-1024x683.jpg" alt="" width="750" height="500" class="aligncenter size-large wp-image-75466" />

On the more artisanal and rooted end of the spectrum is Two Brothers Organic Farms, where mangoes are preserved in time-honoured pickling traditions. “We’ve seen a 2x growth in our mango-based products this year,” says Satyajit Hange, Co-founder. The Raw and Spicy Mango Pickles made from native, organically grown varieties are not just products but expressions of India’s culinary heritage.

The Bench: Old Bangalore, New Mango Stories

<img src="https://images.storyboard18.com/storyboard18/2025/07/TheBench-2025-07-00a6dbb2c70bd3a78a58ccc8dd2866e2-683x1024.jpeg" alt="" width="683" height="1024" class="aligncenter size-large wp-image-75467" />

At The Bench, a Bangalore-based culinary and cocktail destination, the mango is not just seasonal, it’s sacred. From Raw Mango Chilli Chicken and mango desserts to Mirchi Mango cocktails, the restaurant is curating a premium yet nostalgia-drenched mango experience. “We want our guests to feel the warmth of Old Bangalore, when food was simple, bold, and rooted in flavour,” says Ajay Hegde, Founder, The Bench.


Karma Lakelands: Designing with Mango in Mind


<img src="https://images.storyboard18.com/storyboard18/2025/07/Exotic-Mango-Cake-2-1-2025-07-247c5ea9067541f8af3cfc078866085b-768x1024.jpg" alt="" width="750" height="1000" class="aligncenter size-large wp-image-75473" />


Luxury eco-resort Karma Lakelands takes inspiration from mangoes across its culinary and design storytelling. “Their colour, texture and cultural nostalgia drive our Mango Fest creations — from Mango Mint Panna Cotta to Swiss Mango Trifle,” says Akash Roy Saigal, GM. The idea is to make mangoes not just taste good, but feel good — as part of a slow, sensory summer.


Ladurée India: French Flair, Indian Fruit

<img src="https://images.storyboard18.com/storyboard18/2025/07/MangoCroissant-2025-07-84f29cec225294dec7f0aaf1c0cc77d5-683x1024.jpg" alt="" width="683" height="1024" class="aligncenter size-large wp-image-75475" />

Even the haute patisserie house Ladurée, known for its macaroons and Parisian finesse, has embraced mango magic. “We created a limited-edition summer menu featuring a mango croissant with passion fruit coulis and a pistachio-mango tart,” says Chandni Nath Israni, Co-Founder of CK Israni Group. 

The blend of French technique with Indian ingredients has struck a chord with guests — turning mango into a fine dining hero.


Hyphen: From April Fool’s Joke to Cult Lip Screen


<img src="https://images.storyboard18.com/storyboard18/2025/07/HYPHEN-Mango-Lip-Screen-1-2025-07-b648fd5777c2a198c46dc42123c303b5-819x1024.jpg" alt="" width="750" height="938" class="aligncenter size-large wp-image-75476" />

When beauty startup Hyphen teased a mango-flavoured lip balm on April Fool’s Day 2024, they didn’t expect the joke to snowball into product demand. “Consumers kept DMing us until we launched it,” laughs Vaishali Gupta, Co-founder. The result? A Mango Lipscreen SPF 50 PA++++ that hydrates, protects, and transports users straight to sun-soaked summer breaks. “This was proof that mangoes aren’t just fruits — they’re emotional flashbacks.”


Miraggio: Bags That Taste Like Summer


<img src="https://images.storyboard18.com/storyboard18/2025/07/MP9_3693-2025-07-8f5f83705dd1077947271d211b5c9cdc-683x1024.jpg" alt="" width="683" height="1024" class="aligncenter size-large wp-image-75477" />

Luxury handbag label Miraggio channelled the nostalgia of mangoes into its Summer Scoop collection. “The mango-toned variant stood out for its juicy vibrance,” says Founder & CEO Mohit Jain. For the brand, mangoes weren’t a literal design element — but a colour, an energy, a story.


The House of Rare: A Moodboard, Not a Motif


<img src="https://images.storyboard18.com/storyboard18/2025/07/Rareism-Poplin-Vneck-Half-Sleeve-Top-INR-1299-2025-07-239f29b36e451f3dabca6d1395fa47a0.png" alt="" width="674" height="834" class="aligncenter size-full wp-image-75478" />

Women’s fashion label Rareism took an even subtler approach. “We don’t design with mango shapes — but with mango moods,” explains Akshika Poddar, Co-Founder. The soft yellows, sunlit greens, and relaxed silhouettes reflect a summer shift — one that mango season quietly ushers in.


A National Emotion


From Ratnagiri farms to AI-driven videos, French croissants to mango-coloured bags, the mango has evolved into far more than a fruit. It’s a cultural connector, a design cue, a memory trigger, and a marketing muse — inspiring campaigns, products and menus that cut across geographies and generations.

On National Mango Day 2025, India isn’t just eating mangoes. It’s wearing them, drinking them, celebrating them, and remembering the summers they represent. Because in the end, mango isn’t a seasonal trend, it’s a national sentiment.

Sip, Scoop, Snack: Brands turn the 'King of Fruits' into a cultural, culinary and creative phenomenon

Airtel's strategic partnership with AI search engine Perplexity has led to a surge in downloads, propelling the Perplexity app to the top spot on Apple's App Store in India - surpassing OpenAI's ChatGPT. 

This milestone was confirmed by Perplexity AI's CEO, Aravind Srinivas, in a LinkedIn post.

Also Read: <a href="https://www.storyboard18.com/brand-marketing/airtel-perplexity-ai-tie-up-sparks-online-chatter-over-apple-ads-and-ai-adoption-75331.htm">Airtel-Perplexity AI tie-up sparks online chatter over Apple, ads, and AI adoption</a> 

According to a Reuters report, the spike in downloads comes just a day after Airtel announced it would offer a one-year subscription to Perplexity AI Pro - worth Rs 17,000 annually - for free to its users.

While the Perplexity app has long been listed among the top AI apps on mobile platforms, it had never overtaken ChatGPT in the Indian app store rankings - until now.

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The free access to Perplexity’s premium tier, which includes advanced features like Labs and Pro tools, has made the app especially attractive to students, educators, researchers, and working professionals.

The move to partner with Airtel marks a significant expansion effort for Perplexity AI, which operates as an AI-powered search engine providing real-time answers to complex queries. 

With Airtel’s massive user base and aggressive promotional push, users have been quick to download the app as the most convenient way to access the AI platform - though the service is also accessible via web browsers like Safari and Chrome.

Aravind Srinivas, CEO of Perplexity AI, shared the news on LinkedIn, noting the app’s record-breaking performance and thanking users for their support following the Airtel partnership.

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Perplexity AI overtakes ChatGPT on App Store after Airtel deal sparks download surge

The Food Safety and Standards Authority of India (FSSAI) has notified the Food Safety and Standards (Food Products Standards and Food Additives) First Amendment Regulations, 2025, introducing sweeping changes to key food categories such as edible oils, meat products, food colours, spices, and processing aids. 

These revised norms will come into effect on February 1, 2026.

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FSSAI has revised the refractive index values (a key purity and quality indicator) for various edible oils. 

Palm oil at 50°C: changed to 1.454–1.456; Palm olein at 40°C: 1.458–1.460; Palm stearin at 40°C: 1.448–1.452; Vanaspati at 40°C: 1.459–1.460

This move is aimed at improving the quality control benchmarks and eliminating adulteration in oil products.

A new sub-regulation (2A) under the meat products category introduces comprehensive standards for fresh, cooked, smoked, dry, or fermented sausages.

The key requirements include: minimum meat content: 50% (fresh), 60% (cooked/smoked), and 65% (dry/fermented); maximum moisture: 65% (fresh), 60% (cooked/smoked), 50% (dry/fermented); strict hygiene, texture, and microbial specifications; and only specified natural or artificial casings permitted.

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Additionally, FSSAI has established specifications for both whole and powdered dehydrated tarragon. It said that a popular herb, must be free from foreign matter, pest infestation, and extraneous plant species and minimum volatile oil content, maximum moisture (10%) and limit on yellow or brown leaves and broken stems.

FSSAI has broadened the permissible pH range and other physical parameter values for packaged drinking water, allowing pH range (serial no. 5): 75 to 500

It is to be noted that last year, FSSAI had officially classified packaged drinking and mineral water as a “High Risk Food Category” and had subjected these products to mandatory risk-based inspections and third-party audits.


Read more: <a href="https://www.storyboard18.com/how-it-works/fssai-tightens-compliance-fbos-must-submit-closure-reports-after-license-expiry-66648.htm">FSSAI tightens compliance: FBOs must submit closure reports after license expiry</a>

Under new amendments, FSSAI has also replaced the clause on synthetic food colour mixtures with detailed standards. For five new enzymes (enzyme additives from Genetically Modified Microorganisms - GMM) derived from Trichoderma reesei and other microbial sources were approved for food processing (bakery, oils, pasta, egg products), including: Phospholipase A2, Lipase triacylglycerol, and Glucose Oxidase. 

Read more: <a href="https://www.storyboard18.com/how-it-works/fssai-cracks-down-on-harmful-artificial-ripening-practices-across-india-66446.htm">FSSAI cracks down on harmful artificial ripening practices across India</a>

Read more: <a href="https://www.storyboard18.com/brand-marketing/fssai-classifies-packaged-drinking-water-as-high-risk-category-imposes-new-inspection-norms-49110.htm">FSSAI classifies packaged drinking water as ‘High-Risk’ category; imposes new inspection norms</a>

FSSAI notifies amendment to Food Product Standards, tightens norms for oils, sausages, colours

Larry Ellison, the co-founder of Oracle and the world's second-richest man, has launched the Ellison Institute of Technology (EIT) - an initiative aimed at addressing some of humanity's most urgent challenges, as per media reports.

The new institute, created in collaboration with the University of Oxford, marks a significant departure from Ellison's earlier philanthropic path.

In a public post on X, Ellison reflected on his earlier commitment to the Giving Pledge, stating, "Years ago, along with Bill Gates, Warren Buffett, and others, I declared support for the Giving Pledge because I believed and continue to believe that practicing philanthropy by giving to nonprofit organizations that pursue public good is important."

Also Read: <a href="https://www.storyboard18.com/how-it-works/oracles-larry-ellison-rises-to-no-%E2%80%AF2-billionaire-spot-as-ai-cloud-boom-fuels-his-fortune-75231.htm">Oracle’s Larry Ellison rises to no. 2 billionaire spot as AI cloud boom fuels his fortune</a> 

“But there are additional ways that I would like to invest my time and resources in giving back to the world we share,” he continued. “Recently, my family founded a new technical institute in partnership with the University of Oxford.”

The Ellison Institute of Technology is positioned as a high-impact hub of innovation. Its mission spans three major global issues:

Healthcare: Designing and distributing a new generation of life-saving drugs.

Hunger: Engineering higher-yielding crops and developing low-cost indoor farming systems.

Climate Change: Advancing clean energy generation and storage technologies.

“So, I am amending my Giving Pledge and promising to do more by concentrating my resources on the Institute,” Ellison added. “I believe this will improve our chances of delivering practical solutions to the problems of hunger, healthcare, and climate change.”

This pivot reflects Ellison’s evolving view of philanthropy — one that fuses scientific ambition with social responsibility, placing research and innovation at the heart of giving.

About Larry Ellison

Lawrence Joseph Ellison, born in 1944, is a legendary figure in the tech world, having co-founded Oracle Corporation and led it as CEO from 1977 to 2014. He currently serves as the company's Chief Technology Officer and Executive Chairman.

As of July 2025, Ellison holds the title of the world's second-richest person, with a net worth estimated at $257 billion (Bloomberg) and $286.8 billion (Forbes). He also owns 98% of Lānaʻi, the sixth-largest Hawaiian island.

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Larry Ellison, world's second richest man, launches global tech institute with Oxford

Felix Baumgartner, the Austrian daredevil best known for his death-defying leap from the stratosphere in 2012, has died at the age of 56.

The famed adventurer passed away in a tragic paraglider crash on July 17 in Porto Sant'Elpidio, a coastal city in eastern Italy, according to an AP report.

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Local firefighters confirmed that a paraglider had crashed into the side of a swimming pool near the coast, later identifying the victim as Baumgartner. The city's mayor Massimiliano Ciarpella, mourned his loss in a heartfelt social media post, stating, "Our community is deeply affected by the tragic disappearance of Felix Baumgartner, a figure of global prominence, a symbol of courage and passion for extreme flight."

Nicknamed "Fearless Felix," Baumgartner gained worldwide fam in 2012 when he became the first human to break the sound barrier in freefall.

Wearing a pressurized suit and supported by a team of engineers, scientists, and fellow skydivers, he launched himself from a capsule suspended by a helium balloon 24 miles (39 kilometres) above New Mexico.

In a breath-taking nine-minute descent through the stratosphere, Baumgartner reached speeds of 843.6 mph - or 1.25 times the speed of sound - becoming the first skydiver to fall faster than the speed of sound without vehicular power. The stunt was part of the Red Bull Stratos project and marked a historic moment in human flight and high-altitude skydiving.

During the descent, Baumgartner briefly entered a dangerous flat spin while still supersonic, rotating uncontrollably for 13 seconds before stabilizing. Despite the risks, he landed safely in the desert of eastern New Mexico. Reflecting on the moment, he told the Associated Press, “When I was standing there on top of the world, you become so humble... The only thing you want is to come back alive.”

Baumgartner’s record for the highest free-fall jump was broken in 2014 by Google executive Alan Eustace, but the Austrian’s feat remains one of the most iconic moments in the history of extreme sports and human exploration.

Born on April 20, 1969, Baumgartner started as a military parachutist in Austria before turning his passion into a career. Throughout his lifetime, he performed stunts from planes, skyscrapers, bridges, and even iconic landmarks like Brazil’s Christ the Redeemer statue.

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Felix Baumgartner, 'Fearless Felix' who jumped from the edge of space, dies at 56

At the inauguration of the Indian Institute of Creative Technologies (IICT)-NFDC campus in Mumbai, Sanjay Jaju, Secretary, Ministry of Information & Broadcasting, positioned India as a rising global hub for media, culture, and creative innovation. The event also marked the launch of the WAVES outcome report, following the massive global showcase of media and entertainment hosted earlier this year.

Reflecting on the recently concluded WAVES 2025, billed as one of the largest such events globally, the Minister said, “WAVES was not merely an event, it had a vision brought to life.” Citing Prime Minister Narendra Modi’s remarks during the inauguration of WAVES, he said it was “a wave of culture, creativity, and universal connectivity,” that brought together nations and disciplines under one platform with India at the heart.

Read more:<a href="https://www.storyboard18.com/how-it-works/one-of-the-finest-campuses-of-the-country-ashwini-vaishnaw-inaugurates-indias-first-iict-campus-in-mumbai-75368.htm"> "One of the finest campuses of the country": Ashwini Vaishnaw inaugurates India’s first IICT Campus in Mumbai</a>

With participation from over 100 countries, 3,000 companies, and one lakh business visitors, WAVES became a meeting confluence for storytelling traditions, emerging technologies, and cultural exchange. The summit’s Creative Sphere, a global talent and innovation showcase, drew over 1 lakh participants from 63 countries, leading to 750 finalists across 34 ‘Create in India’ challenges, revealed Jaju.

The event also led to substantial commercial outcomes, he mentioned.

“WAVES Bazaar accounted for close to Rs 1,300 crore + worth of deals in content buying and selling,” Jaju noted, adding that several MoUs and business pacts were signed during the event.

The Global Media Dialogue, attended by delegates from 77 countries, concluded with the adoption of the ‘WAVES Declaration’—a unified statement aimed at fostering global cooperation in creative industries.

IICT-NFDC: A Creative Launchpad

Jaju also announced that the newly opened NFDC campus of IICT in Mumbai is now operational, with student registrations open and classes set to begin in September. “We are not calling it a temporary setup—this is the IICT campus,” he declared.

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The campus will also host incubation facilities and aims to be a launchpad for India’s creative and entrepreneurial talent in film, animation, gaming, and allied sectors. Jaju said final campus project, expected to be completed in two years.

He concluded by expressing gratitude to the Maharashtra government for its partnership in bringing these initiatives to life.

“This is the beginning of stories yet to be told, of a creative India en route to its full discovery,” he said.

The Union Minister for Information and Broadcasting, Ashwini Vaishnaw, and the Chief Minister of Maharashtra, Devendra Fadnavis, jointly inaugurated the campus of the IICT at the NFDC Films Division Complex, Pedder Road, Mumbai on July 18.

The dignitaries also unveiled the official logo of IICT and announced the commencement of its academic programs from September this year.

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The newly inaugurated IICT campus has a world-class infrastructure, including fully equipped classrooms, advanced media labs, post-production suites and dedicated spaces for animation, VFX and XR training. Designed to global standards, the campus provides a state-of-the-art learning environment that blends technology with creative excellence.

300 students are expected to come out of the inaugural year from this NFDC IICT campus.

The second campus is expected to be made in 2 years at Filmcity Goregaon.

WAVES Bazaar enabled content deals worth Rs 1,300 cr:  Sanjay Jaju reveals at IICT inauguration

The Union Minister for Information and Broadcasting, Ashwini Vaishnaw, and the Chief Minister of Maharashtra, Devendra Fadnavis, jointly inaugurated the campus of the Indian Institute of Creative Technologies (IICT) at the NFDC Films Division Complex, Pedder Road, Mumbai today.

The dignitaries also unveiled the official logo of IICT and announced the commencement of its academic programs from September this year.

Also present on the occasion was Sanjay Jaju, Secretary, Ministry of Information and Broadcasting, Government of India, and Minister of Cultural Affairs Department, Government of Maharashtra, Ashish Shelar.

The newly inaugurated IICT campus has a world-class infrastructure, including fully equipped classrooms, advanced media labs, post-production suites and dedicated spaces for animation, VFX and XR training. Designed to global standards, the campus provides a state-of-the-art learning environment that blends technology with creative excellence.

300 students are expected to come out of the inaugural year from this NFDC IICT campus. 

The second campus is expected to be made in 2 years at Filmcity Goregaon.

Speaking at the inauguration, Ashwini Vaishnaw said, “In this creative world, technology has become an integral part and it is important that we empower people who want to be part of the creator economy. I am glad that in such a short span we have inaugurated the first NFDC IICT campus in Mumbai. I have personally gone through the architectural presentations in detail for the campus in Film city, Goregaon, and I assure you it is going to be one of the finest campuses.”

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Devendra Fadnavis added, “This is not just an event; it is a moment — a moment that is now transforming into a movement. As part of this movement and its legacy, the announcement of IICT was made, and the campus was inaugurated in a remarkably short time. In the coming years, under the excellent guidance of Ashwini Vaishnaw, IICT will emerge not only as an institution of world-class education but also as an architectural and cultural landmark that attracts people from across the globe. Just as WAVES revolutionised the entire creator economy, IICT stands as a testament to all that hard work.”

The IICT will offer advanced programs in integrated media post-production, animation, VFX, XR, and other emerging technologies, bringing together academic expertise, industry collaboration, and state-of-the-art infrastructure under one roof.

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Union I&B Minister Ashwini Vaishnaw and Maharashtra CM Devendra Fadnavis inaugurate IICT Campus in Mumbai

In a significant move to strengthen India’s media infrastructure, a tripartite Memorandum of Understanding (MoU) was signed between Prasar Bharati, the Commerce and Industry Department of the Maharashtra government, and Maharashtra Film, Stage & Cultural Development Corporation Limited (MFSCDC) on the sidelines of the Indian Institute of Creative Technology (IICT-NFDC) campus inauguration in Mumbai, on July 18.

According to Gaurav Dwivedi, CEO of Prasar Bharati, the agreement aims to develop a comprehensive ecosystem for entertainment and media-related activities across land parcels owned by the three parties. 

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“The idea is to align and synergise existing resources—land, funding, and institutional support—to create one of the best media ecosystems in the world,” Dwivedi told Storyboard18.

He pointed out the geographical proximity between Mumbai’s Film City and Prasar Bharati’s Akashvani land in Malad, which despite being close, have evolved separately. 

“Due to various reasons, these areas have developed independently. But with the Government of India and the Maharashtra government now aligned in their vision for focused development of the media sector, the need for collaboration became essential,” he said.

Read more: <a href="https://www.storyboard18.com/how-it-works/one-of-the-finest-campuses-of-the-country-ashwini-vaishnaw-inaugurates-indias-first-iict-campus-in-mumbai-75368.htm">"One of the finest campuses of the country": Ashwini Vaishnaw inaugurates India’s first IICT Campus in Mumbai</a>


Dwivedi confirmed that the MoU paves the way for planning infrastructure and resource integration at both sites, with detailed plans to be finalised in the coming months.

Storyboard18 first reported in April that the Ministry of Information and Broadcasting (I&B) and the Maharashtra government have plans to develop a massive global creative centre on a 240-acre land parcel in Malad.

At that time, Maharashtra Chief Minister Devendra Fadnavis had said that the 240-acre land belonging to the I&B Ministry will be developed in collaboration with the Maharashtra government into the world’s largest global creative centre. This will revolutionize the creative ecosystem and transform Mumbai into the entertainment capital of the world. 

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On July 18, Union Minister for Electronics & IT, Railways and I&B, Ashwini Vaishnaw inaugurated the first campus of the IICT at the NFDC premises in Mumbai, marking a significant step toward building India’s capacity in the global creative tech economy.

Conceptualised as a “creative IIT” on the lines of India’s premier technical and management institutes, the IICT will offer skill-based training in modern content technologies such as VFX, post-production, animation, gaming, and creative IT.

The institute’s first-year target is to train at least 300 individuals, including both students and trainers.

MEDIA