Concept to be Finalised Soon for Impementation of the Sagar Mala Project

The government proposes to finalize the Sagar Mala concept soon to implement the project. In his first address to the Parliament after the new government was formed the President of India on 9th June 2014, enunciating the policies of the new government stressed that the Government would evolve a model of Port-led development by stringing together the Sagar Mala project which would not only connect the ports with the hinterland through road and rail, but also develop the Inland and coastal waterways as a major transport routes. “Sagar Mala” was an initiative that was announced by the then Prime Minister of India on the Independence Day in 2003 with the objective of achieving rapid capacity expansion and modernization of Ports along India’s East and West Coast. The Sagar Mala project envisaged developing India’s ports to levels comparable with the best global ports in terms of infrastructure, efficiency and quality of service, increasing the tonnage capacity, upgrading and creating ship building and ship repair facilities and increase the use of inland waterways for transportation. The Ministry of Shipping being the nodal point for THE Sagar Mala Project, it today held a brain storming session under the chairmanship of Secretary, Shipping Shri Vishwapati Trivedi. 45 stakeholders represented from Ministry of Railways, Surface Transport & Highways, DIPP, Planning Commission, Customs, Major and Minor Ports, State Maritime Boards, ADB and representatives from trade and industry such as CII, FICCI, INSA, and ICCSA participated. The focus of conference was (i) Initiatives to be taken for Port led development (ii) Policy framework to promote coastal Shipping and Inland water transport (iii) Institutional framework for implementation of the Sagarmala project. A concept note prepared by the Ministry has perceived Sagar Mala as an integrated infrastructure cum policy project to develop the Indian Maritime sector. The concept paper has proposed that the growth of India’s maritime sector be achieved by developing Maritime Economic Regions (MER). The draft concept note has suggested that an MER would be a Regional Ports System comprising of a cluster of Major Ports and Non-Major Ports and the development of an MER would involve development of ports, port based SEZs, coastal industrial clusters and other port based industries. The MER envisages that it would be linked with road, inland waterways transport and airport projects to have the best connectivity. Today’s conference also deliberated on an institutional arrangements for implementation of Sagar Mala, such as setting up a Sagar Mala Development Authority which will implement the development plans for the MER in coordination with various developmental agencies of Central and State Governments. It was felt that a legislative framework may be essential to implement the Sagarmala concept.

Preterm birth and pneumonia kill most children under five years in India

Of the 6.3 million deaths in children under the age of five years, nearly 52 per cent of deaths during 2000-2013 occurred during the neonatal period (0-27 days after birth). Preterm birth complications, pneumonia and intrapartum-related complications have been found to be the three main causes of death in children globally.

The results are published today (October 1) in the journal The Lancet. According to Li Liu from the Institute of International Programs and the first author of the paper, there will be 4.4 million deaths in children younger than five years even in 2030 if the present trend continues.

In 2013, India, Nigeria, Pakistan, the Democratic Republic of Congo and China together accounted for half of deaths in the world in children aged under five years, and 52.5 per cent of all neonatal deaths. In the case of India and Pakistan, the three leading causes were preterm birth complications, pneumonia and intrapartum-related complications, in that order. In the case of China, the order was different — intrapartum-related complications, preterm births complications and pneumonia were the three leading causes.

Globally, preterm birth complications caused 15 per cent (0.96 million) of child deaths in 2013. This was closely followed by pneumonia. While pneumonia caused only 0.14 million deaths in neonates, at 0.8 million, it was the second major cause of death across the world in children aged 1-59 months. The two periods together accounted for 0.93 million deaths caused by pneumonia in children aged under five years. As expected, diarrhoea killed more children after the neonatal period — 0.02 million during the neonatal period and nearly 0.59 million during the period 1-59 months.

Case management of pneumonia and diarrhoea can be easily implemented and large number of deaths can be prevented with minimum intervention at little cost. Use of antibiotics to treat pneumonia and timely oral rehydration therapy in the case of diarrhoea can prevent deaths in children under five years.

“Deaths due to pneumonia and diarrhoea can be reduced in India. The coverage [of antibiotics and oral rehydration therapy] is not wide enough in India ... it’s not sufficient,” Prof. Robert E. Black from the Johns Hopkins Bloomberg School of Public Health and the Corresponding author of the paper told this Correspondent. “Pneumonia [occurs] during and after neonatal period and diarrhoea [occurs] mainly after neonatal period.”

For pneumonia less than 30 per cent of children in India receive antibiotics, and over 600 million defecate in the open and have very poor access to clean drinking water resulting in most cases of diarrhoea.

“Compared to managing premature babies which involves sometimes months of intensive care, complex medical treatments and follow-ups, treatment for pneumonia (early diagnosis and three-day antibiotic treatment costing about Rs.25) and diarrhoea (oral rehydration therapy) are relatively straight forward and will save a lot more lives in the short term,” Dr Nicholas Furtado Attending Paediatrician, University of Illinois Hospital and Health Sciences System, Chicago said in an email to this Correspondent. Dr. Furtado was not involved in the study.

“In the long term, prevention of pneumonia by immunisation, acute diarrhoea by improving water supply and sanitation, and decreasing prematurity through quality care before, during and after birth would be the most important ways to decreased under five mortality rate,” Dr. Furtado noted.

Explaining why pneumonia cases are more common than diarrhoea, Dr. Furtado said: “During the neonatal period the lungs are immature and more prone to infection.”

Simple measures like exclusive breastfeeding for six months can further cut the number of diarrhoeal episodes and deaths in children. However, only about 46 per cent of children in India were exclusively breastfed for six months during 2005-2006.

It is to be noted that reduction in pneumonia, diarrhoea and measles during the period 2000-2013 has led to nearly 50 per cent decrease in deaths in children under five years.

Preterm births

India is one of the 10 countries with an estimated 100,000 to 250,000 preterm births in 2010. Preterm births cause about 50 per cent of neonatal mortality. “The causes of preterm births are not known. Conditions like high blood pressure in pregnant mothers and infections during pregnancy are some of the reasons. In a majority of cases no cause can be attributed. It’s hard to prevent preterm births,” said Prof. Black.

“Preterm birth complications will probably remain the leading cause of neonatal and under five deaths,” the paper notes.

But measures like supported infections control, kangaroo care (skin to skin contact of the baby with the mother to keep the baby warm) and use of incubators will go a long way in preventing deaths even when the baby is preterm. “We can’t prevent preterm births but can treat them and prevent most of the deaths,” Prof. Black said.

“In this analysis we didn’t include small for [gestational] age as a risk factor,” he said. Most small-for-gestational-age infants are born in India, Pakistan, Nigeria, and Bangladesh.

A July 2013 Comment piece in The Lancet notes: “In 2010, an estimated 32·4 million infants were born [at term but] small for gestational age in low- and middle-income countries (27 per cent of live births)

MOU Signed for First Ever Offshore Wind Power Project in India

100 MW Project to Come up in Gujrat Coast National Offshore Wind Energy Policy in the Anvil

An MOU for setting up a Joint Venture Company ( JVC) towards undertaking the First Demonstration Offshore Wind Power Project in the country along the Gujarat coast has been signed here today in the presence of Shri Piyush Goyal , Union Minister of State (I/C), Power, Coal and New & Renewable Energy . The MoU was signed by Ministry of New and Renewable Energy (MNRE), National Institute of Wind Energy (NIWE), and Consortium of partners consisting of National Thermal Power Corporation (NTPC), Power Grid Corporation of India Ltd (PGCIL), Indian Renewable Energy Development Agency (IREDA), Power Finance Corporation (PFC), Power Trading Corporation (PTC), and Gujarat Power Corporation Ltd (GPCL). Speaking on the occasion, Shri Piyush Goyal described it as a great opportunity in the development of renewable energy resources in the country. He pointed out that Prime Minister Shri Narendra Modi’s message in the US was loud and clear that renewable energy is the way to go, it dovetails world’s concerns about climate change and it clearly enhances India’s energy security. Considering the country’s 7600 km long coastal line , Shri Goyal stated that opportunities for scaling up are humongous. The Minister also suggested for building partnership with Defence , Coast guard and Shipping to ensure seamless and time bound approval process. The Joint Venture Company will undertake detailed feasibility study based on the inputs received from pre-feasibility studies and necessary steps for implementation of the first offshore demonstration wind power project. The first planned demonstration offshore wind power project along the Gujarat coast will be of about 100 MW capacity. It has been proposed to provide subsidy for setting up of evacuation and transmission infrastructure of the offshore wind power to the main land including financial support for carrying out studies such as wind resource assessment, Environment Impact Assessment (EIA), oceanographic survey and Bathymetric studies. Ministry would also assist in obtaining clearances involved during the implementation of the project. This being a first demonstration offshore wind project in the country, will certainly provide enough learning to move into this sector by taking up similar viable projects in future, enabling India to enter in the club of countries who are in the business of offshore wind power generation. Wind power development onshore has reached to commercial stage in India and is fastest growing renewable energy option today. India also has around 7600 KM of coastline which offers great potential for Off-shore wind power development. Having more than 22 GW installed onshore wind power capacity in the country, Ministry has taken initiative towards offshore wind power development which includes announcement of Draft National Offshore Wind Energy Policy and preparation of Draft Cabinet note on National Offshore Wind Energy Policy which has been circulated for inter-ministerial comments. Finalization of the proposed National Offshore Wind Energy Policy will provide a conducive environment for harnessing offshore wind energy including setting up of a demonstration offshore wind power project to show case technology and build investors’ confidence. In early 90s, Ministry had taken up onshore demonstration projects in various states. A total of 71 MW of demonstration projects in 7 states have leveraged a wind power capacity of around 22,000 MW with private sector investment. Therefore, Ministry decided to go for a demonstration off-shore wind power project to show-case the possibility and viability of off-shore wind power in the country. Some sites were identified along the Gujarat and Tamil Nadu coast which have good wind power potential for development of offshore projects. Since, GPCL has shown interest, it was decided to plan the first offshore wind power project along the coast of Gujarat. However, world-wide offshore wind power projects aggregating to about 7.5 GW capacity have been installed (UK - 4.2 GW; Denmark - 1.2 GW; Belgium – 0.7 GW; Germany – 0.6 GW; China – 0.4 GW; the Netherlands – 0.2 GW and Sweden – 0.2 GW)

SC -In anger, pain and shame

The recent decision of the Supreme Court (SC) to deliver coal-black justice raises a lot of questions. The judgment, very simply, is as follows. The SC has ruled that 214 of the 218 coal block allocations made since 1993 were arbitrary and illegal and hence, are cancelled; those who operated these cancelled mines over the last 20 years will now have to pay a fine of R295 per metric tonne produced. Estimates are that, to date, about 302 million metric tonnes (mmt) of coal has been produced by these illegal operators and, therefore, about R8,900 crore is owed to the government.

How logically valid is the judgment reached by the three honourable and learned Supreme Court Justices? The short answer: not very, because the judgment, in my not-so-learned opinion, is flawed on several important dimensions.

At the Financing for Economic Growth seminar, held at Gandhinagar on September 25, I opened by stating that it was a waste of time by the organisers to invite me and other experts to discuss economic issues. Over the last few years, it has become increasingly clear that the real experts on food policy, human rights, and coal policy (just to name a few) reside neither in the corridors of academia, nor in the corridors of professionals, bureaucrats or politicians. The real decision-makers are those engaged with the law; so, why not learn about optimal, fair, and legal policy by inviting the Supreme Court to send its representatives? I hope the organisers will take this serious suggestion seriously.

In anger

Some basic questions with regard to the judgment. This is the mother of all retrospective laws—to go all the way back to 1993 takes a lot of confidence, and leaps of law. Does India have no statute of limitations? How far back backward can one go? The Court states, citing a bad law—the Coal Mines Nationalization Amendment Act (CMNA), 1976—that the provision of a mining lease to any institution which is not “Central government, Central government company or Central government corporation” is illegal. This despite the fact that in 1993, the CMNA, 1976, was amended to allow for sub-leases to be granted if two conditions are satisfied: (i) the reserves of coal in the area are in isolated small pockets or are not sufficient for scientific and economical development in a coordinated and integrated manner, and (ii) the coal produced by the sub-lessee will not be required to be transported by rail. In other words, if the coal block had junk, it could be sub-leased and that the junk could not blacken our railroads.

There are several debatable aspects of the learned SC ruling. First, what legal basis is there for deciding that all coal allocations since 1993 are illegal? If the illegality was of such a magnitude, then how is it possible that no one (including the honourable Supreme Court) noticed it for 20 long years? If these actions were illegal, what about the ministers (including prime ministers) and senior bureaucrats who Okayed this decision? What is the punishment for them? And what about all the Justices who implicitly allowed such rampant illegal acts to take place? When will they be held accountable? Or punished? On accountability, can the Court apprise us to the status of Prashant Bhusan’s corruption case against Chief Justices of the Supreme Court? In 2010, Bhushan stated that “In my view, out of the last 16 to 17 Chief Justices, half have been corrupt”.

In pain

There is not only the ignominy of having your licenses cancelled, but also that the firms have to pay a penalty of R295 per tonne of mined coal. The SC takes the easy way out by claiming that they derived this figure from the CAG report which implicitly (in the judges’ view) did a correct calculation of illegal profits. Of course, it is the same ‘no-number-is-high-enough’ Vinod Rai, formerly of the CAG, who extravagantly claimed that there had been a loss of R1.86 lakh crore from the coal allocation scam and this yielded an average financial benefit of R295/tonne to the black allottees. As pointed out in several articles in 2012, the CAG report suffered from a terminal error in its estimation of coal “benefits”. It assumed an interest rate of zero in discounting the stream of future profits! If a discount rate of 10% is assumed, then the lofty scam figure of R1.86 lakh crore is reduced to only R74,000 crore. Even this estimate was in gross error because the price of coal assumed by CAG was the price received by Coal India —a much higher grade coal and one that can be transported by railroad.

Forget the time value of money (interest rate)—too complicated for Vinod Rai’s CAG and even more complicated for the Supreme Court. The hard facts that we have at our disposal are the profits obtained by Coal India, one of the Maharatnas of the public sector and a company which produces the finest and costliest coal in India. The public records of this company reveal, as shown in the accompanying table, an average post-tax profit rate of R239/tonne for the years 2006-2014. From the grades of coal specified, this average approximates the price of Long Flame Grade D coal.

Junk coal blocks (grade F and G) were allocated to the private sector, by design and intent. As a good public-sector monopolist, Coal India did not want to muddy its profits by developing these junk blocks. The average price of this coal is only 39% of Coal India’s price. If the same profit rate as that of Coal India is assumed for the black firms, a very generous assumption in favour of CAG-SC, the quantum of all the illegal profits made by the companies is R67 per tonne. Or instead of R8,900 crore being “owed” by the illegal coal firms, only R1990 crore is “owed”.

In shame: homosexuality

And since retrospective acts are in, how about the Supreme Court looking at some of its own questionable judgments of the past? For example, in December 2013, it ruled that homosexuality was a crime; what aspect of human rights, or the Constitution for that matter, allowed it to reach that questionable judgment? The Supreme Court overruled a 2009 Delhi High Court ruling in favor of decriminalising homosexuality. Another massively regrettable “retrospective” decision by the court. It had the chance to merely uphold the court ruling but it went out of its way to deem homosexuality a crime. So, zilch to the Supreme Court for its non-understanding of the time-value of money and even less for its non-recognition of human rights.

It is now time for checks and balances to the excessively questionable judgments of the Supreme Court. The honourable justices must realise that they are not infallible; they are human, and can make mistakes. And let us not forget how quickly the Supreme Court found the Emergency imposed by Indira Gandhi to be “Constitutional”. The time has come for the Modi government to act. It should collect the penalty as ordered by the Supreme Court, but it should only collect R1,990 crores. This money should be re-allocated to the cancelled firms for infrastructure development. And in addition, these firms should be rewarded for extracting coal profitably out of the refuse abandoned by Coal India.

Text of Joint Editorial by PM Shri Narendra Modi and Mr. Barack Obama

“As nations committed to democracy, liberty, diversity and enterprise, India and the United States are bound by common values and mutual interests. We have each shaped the positive trajectory of human history, and through our joint efforts, our natural and unique partnership can help shape international security and peace for years to come.



Ties between the United States and India are rooted in the shared desire of our citizens for justice and equality. When Swami Vivekananda presented Hinduism as a world religion, he did so at the 1893 World's Parliament of Religions in Chicago. When Martin Luther King Jr. sought to end discrimination and prejudice against African Americans, he was inspired by Mahatma Gandhi's nonviolent teachings. Gandhiji himself drew upon the writings of Henry David Thoreau.



As nations, we've partnered over the decades to deliver progress to our people. The people of India remember the strong foundations of our cooperation. The food production increases of the Green Revolution and the Indian Institutes of Technology are among the many products of our collaboration.



Today our partnership is robust, reliable and enduring, and it is expanding. Our relationship involves more bilateral collaboration than ever before - not just at the federal level but also at the state and local levels, between our two militaries, private sectors and civil society. Indeed, so much has happened that, in 2000, then-Prime Minister Atal Bihari Vajpayee could declare that we are natural allies.



After many years of growing cooperation since, on any given day, our students work together on research projects, our scientists develop cutting-edge technology and senior officials consult closely on global issues. Our militaries conduct joint exercises in air, on land and at sea, and our space programs engage in unprecedented areas of cooperation, leading us from Earth to Mars. And in this partnership, the Indian American community has been a vibrant, living bridge between us. Its success has been the truest reflection of the vitality of our people, the value of America's open society and the strength of what we can do when we join together.



Still, the true potential of our relationship has yet to be fully realized. The advent of a new government in India is a natural opportunity to broaden and deepen our relationship. With a reinvigorated level of ambition and greater confidence, we can go beyond modest and conventional goals. It is time to set a new agenda, one that realizes concrete benefits for our citizens.



This will be an agenda that enables us to find mutually rewarding ways to expand our collaboration in trade, investment and technology that harmonize with India's ambitious development agenda, while sustaining the United States as the global engine of growth. When we meet today in Washington, we will discuss ways in which we can boost manufacturing and expand affordable renewable energy, while sustainably securing the future of our common environment.



We will discuss ways in which our businesses, scientists and governments can partner as India works to improve the quality, reliability and availability of basic services, especially for the poorest of citizens. In this, the United States stands ready to assist. An immediate area of concrete support is the "Clean India" campaign, where we will leverage private and civil society innovation, expertise and technology to improve sanitation and hygiene throughout India.



While our shared efforts will benefit our own people, our partnership aspires to be larger than merely the sum of its parts. As nations, as people, we aspire to a better future for all; one in which our strategic partnership also produces benefits for the world at large. While India benefits from the growth generated by U.S. investment and technical partnerships, the United States benefits from a stronger, more prosperous India. In turn, the region and the world benefit from the greater stability and security that our friendship creates. We remain committed to the larger effort to integrate South Asia and connect it with markets and people in Central and Southeast Asia.



As global partners, we are committed to enhancing our homeland security by sharing intelligence, through counterterrorism and law-enforcement cooperation, while we jointly work to maintain freedom of navigation and lawful commerce across the seas. Our health collaboration will help us tackle the toughest of challenges, whether combating the spread of Ebola, researching cancer cures or conquering diseases such as tuberculosis, malaria and dengue. And we intend to expand our recent tradition of working together to empower women, build capacity and improve food security in Afghanistan and Africa.



The exploration of space will continue to fire our imaginations and challenge us to raise our ambitions. That we both have satellites orbiting Mars tells its own story. The promise of a better tomorrow is not solely for Indians and Americans: It also beckons us to move forward together for a better world. This is the central premise of our defining partnership for the 21st century. Forward together we go - chalein saath saath.”

Country’s first eToilet unveiled

Eram Scientific, manufacturers of the country’s first eToilet, on Tuesday unveiled the world’s cheapest unmanned, self-cleaning eToilet with inbuilt solar panel and metallic platform for schools.
“This is our contribution to the nation and comes as a response to the “Clean India Campaign” announced by the Central Government. It perfectly matches with the “Make in India” campaign as well,” said Siddeek Ahmed, chairman of Thiruvananthapuram-based Eram Group.
Built of stainless steel base, mild steel super structure and occupying 25 sq.ft space, the eToilet comes with a price tag of Rs.99,999 ex-factory, which is inclusive of insurance charges and one-year warranty.
It has got an inbuilt solar panel, which eliminates the need for electricity connection while the metal platform avoids civil construction too.
It has an automatic flush, which works before and after use, automatic floor wash, sensor controlled water usage and eliminates the need for manual cleaners in schools.
“The present problems in sanitations at schools are known to be not because of the dearth of toilets. The lack of maintenance and requirement for manual cleaning has made them dysfunctional. We are out to address that gap and that is why we are now launching this comprehensive solution for schools,” said K. Anvar Sadath, CEO.

Five Indian-Americans in Forbes list of US' richest

Five Indian-Americans have been named among the 400 richest people in the US by Forbes, a list topped by Microsoft co-founder Bill Gates for the 21st year in a row with a net worth of USD 81 billion.
Founder of outsourcing firm Syntel Bharat Desai, entrepreneur John Kapoor, Symphony Technology founder Romesh Wadhwani, Silicon Valley angel investor Kavitark Ram Shriram and venture capitalist Vinod Khosla are among 'The Richest People In America 2014' list by Forbes.
Forbes said 2014 was another record year for American wealth, when the aggregate net worth of the richest 400 Americans was USD 2.29 trillion, up USD 270 billion from a year ago.
"Thanks to a buoyant stock market, the richest people in the US just keep getting richer," Forbes said.
Gates is the richest American for the 21st year in a row, with a net worth of US 81 billion. The Microsoft chairman's stake in the software company he cofounded accounts for just under 20 per cent of his total net worth. His friend Warren Buffett, chief executive of Berkshire Hathaway, occupies the number two spot on the 400, a rank he has held since 2001 with a net worth of USD 67 billion.
Larry Ellison, who just announced that he was giving up the CEO role at Oracle, the software firm he founded, comes in at number three, with a net worth of 50 billion dollars.
Desai and his family rank 255 on the list, followed by Kapoor who is ranked 261, Wadhwani (264), Shriram (350) and Khosla (381).
Facebook co-founder and CEO Mark Zuckerberg is now the 11th richest person in the US, and the biggest dollar gainer on the list. His fortune soared to USD 34 billion, up USD 15 billion since last year, due to a sharp rise in the price of the social network's shares.
Desai, 61, and wife Neerja Sethi founded outsourcing firm Syntel in 1980 while studying at University of Michigan. The Indian Institute of Technology alumnus has a networth of USD 2.5 billion.
Kapoor, 71, debuts on The Forbes 400 as a serial entrepreneur who has founded two pharmaceutical companies that he has guided to exceptional success.
The bulk of his wealth is concentrated in shares of Akorn Pharmaceuticals, an Illinois-based generics manufacturer that Kapoor has been involved with since the early 1990s, and INSYS Therapeutics, a cancer-treatment maker that went public in May 2013.
Kapoor, whose net worth is USD 2.5 billion, also has a small chain of fast-casual Indian restaurants in Arizona called Bombay Spice, as well as Roka Akor Japanese eateries in Chicago, Scottsdale and San Francisco.
Wadhwani, 67, an Indian Institute of Technology Bombay alumnus has a net worth of USD 2.5 billion. Forbes said over the last decade, his galaxy of companies has expanded to 20 and is generating three billion dollars in revenues with 18,000 employees worldwide.
He is the recipient of the 2013 Forbes India 'Non-Resident Philanthropist Award' and sits on the boards of the Kennedy Center and the Center for Strategic and International Studies. Wadhwani signed Bill Gates' and Warren Buffett's Giving Pledge last year.
Shriram, 57, has a net worth of USD 1.87 billion. He was an early Google backer and has been a Silicon Valley angel investor since 2000. Through his Sherpalo Ventures, he has backed early-stage tech firms such as Zazzle and Paperless Post, as well as the frozen yogurt retailer Pinkberry.
Shriram made most of his fortune through Google and has been on its board since the company was founded in 1998. In June 2014, Shriram and his wife donated $61 million to engineering initiatives at Stanford University, which both of his daughters attended and where he is a board trustee.
Khosla, 59, has a net worth of USD 1.67 Billion and has run his own venture capital firm, Khosla Ventures, since 2004, following nearly two decades at VC firm Kleiner Perkins. His highest-profile investments have lately been in clean tech: wood-based biofuel, new types of batteries and water purification.
All together, the 400 wealthiest Americans are worth a staggering USD 2.29 trillion, up USD 270 billion from a year ago.
The average net worth of list members is USD 5.7 billion, USD 700 million more than last year and a record high. An impressive 303 of the 400 saw the value of their fortunes rise compared to a year ago. Only 36 people from last year’s list had lower net worths this year.
The list has 27 newcomers including Elizabeth Holmes the youngest woman on the list, and the youngest self-made female billionaire in the world.  Just 30 years old, the Stanford University dropout has built blood testing company Theranos into a firm that venture capitalists have valued at USD 9 billion.