ED raids in Valmiki Development Corporation case unwarranted: D K Shivakumar
Tumakuru (Karnataka), Jul 10: Karnataka Deputy Chief Minister D K Shivakumar on Wednesday termed the Enforcement Directorate raids in the Valmiki Development Corporation case as unwarranted.
The ED on Wednesday conducted searches at multiple places allegedly linked to former Karnataka Minister B Nagendra and MLA Basanagouda Daddal in connection with the illegal money transfer case in state owned corporation.
The raids were carried out in Bengaluru, Raichur and Ballari as part of the probe into the alleged unauthorised transfer of Rs 187 crore belonging to the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation from its bank accounts.
This includes Rs 88.62 crore illegally credited to various accounts of some IT companies and a Hyderabad-based cooperative bank, according to official sources.
ALSO READ: "Let ED do their job," says Karnataka CM on searches in Valmiki Corporation ''scam'' case
Speaking to reporters at the Nonavinakere Kadasiddeshwara mutt in the district, he said, "When the SIT set up by the State government is already investigating the case, there was no need for ED to raid in the case."
Asked about ED raids on several places including the residence of former minister Nagendra, the DCM said, "It involves huge amounts of money and hence banks have the authority to investigate the case. ED has come in even though there was no need for it to investigate."
Shivakumar said Nagendra is not at fault as he exuded confidence that he will come out clean after the investigation.
Though he endorsed action against those involved in the fraud, he underlined that similar cases had happened during the previous BJP government.
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Indian AI startups should work towards global leadership: PM Modi
New Delhi (PTI): Prime Minister Narendra Modi on Thursday said the world's trust in India is its biggest strength and emphasised the need to ensure that Indian Artificial Intelligence (AI) models are ethical, unbiased, transparent, and based on data privacy principles.
He also said that the startups should work towards global leadership from this country, and noted that India can promote affordable AI, inclusive AI, and frugal innovation globally.
Chairing a roundtable with Indian AI start-ups ahead of the India AI Impact Summit 2026, Modi suggested that Indian AI models should be distinct and should promote local and indigenous content and regional languages, an official statement said.
The prime minister said startups and artificial intelligence entrepreneurs are the co-architects of the country's future.
As many as 12 Indian AI start-ups that have qualified for the 'AI for ALL: Global Impact Challenge' summit to be held next month attended the roundtable and presented their ideas and work.
During the meeting, Modi highlighted the importance of artificial intelligence in bringing about transformation in society.
He noted that India will host the India AI Impact summit next month, through which the country will play a major role in the technology sector.
The prime minister highlighted that India is making efforts to bring about a transformation by leveraging AI.
He emphasised that startups and AI entrepreneurs are the co-architects of India's future and said the country has immense capacity for both innovation and large-scale implementation.
India should present a unique AI model to the world that reflects the spirit of 'Made in India, Made for the World', Modi said.
These start-ups are working in a diverse set of areas, including Indian language foundation models, multilingual LLMs, speech-to-text, text-to-audio and text-to-video; 3D content using generative AI for e-commerce, marketing, and personalised content creation; engineering simulations, material research and advanced analytics for data-driven decision-making across industries; healthcare diagnostics and medical research, among others.
The AI start-ups commended India's strong commitment to advancing the artificial intelligence ecosystem in the country. They highlighted the rapid growth and vast future potential of the AI sector, observing that the centre of gravity of artificial intelligence innovation and deployment is beginning to shift towards India.
The leaders said India now offers a robust and enabling environment for AI development, firmly placing the country on the global AI map.
The meeting was attended by CEOs, heads and representatives of Indian AI start-ups, including Avataar, BharatGen, Fractal, Gan, Genloop, Gnani, Intellihealth, Sarvam, Shodh AI, Soket AI, Tech Mahindra and Zenteiq.
Union Minister for Electronics and Information Technology Ashwini Vaishnaw and Minister of State Jitin Prasada were also present in the meeting.
A PMO press release reads, "PM chairs Roundtable with Indian AI Start-Ups. 12 Indian AI Start-ups, who have qualified for the AI for ALL: Global Impact Challenge in the India AI Impact Summit 2026, present their ideas and work." pic.twitter.com/RvjNly04hl
— Press Trust of India (@PTI_News) January 8, 2026
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