Saturday, August 26, 2023

BMW Group India Announced The Appointment Of KUN Exclusive As Its Dealer Partner For Bengaluru.

After successful operations in Bengaluru since 2007, Navnit Motors has transferred its business and operations in Bengaluru to KUN Exclusive in pursuit of strategically bolstering its operations in Mumbai. Seamless business continuity will be ensured for existing BMW and MINI customers with complete understanding of their needs as the existing Sales and Service locations remains the same and existing employees will continue to work under the BMW Group banner.

Mr. Vikram Pawah, President, BMW Group India said, “I would like to thank Navnit Motors for their valuable contribution and unwavering commitment to BMW and MINI customers in Bengaluru. We recognize their accomplishments and wish them great success for future. Bengaluru is an important market for BMW Group India, and we are committed to serve our customers with best-in-class service. We are excited to appoint our trusted partner KUN Exclusive as the dealer partner in Bengaluru. Their knowledge of current trends in the luxury industry, attention to needs of our esteemed clientele and curation of bespoke experiences will be instrumental in creating a complete customer centric engagement.” 

Mr. Sharad Kachalia, Dealer Principal, Navnit Motors said, “BMW holds a special place for Navnit Motors and our journey has been rewarding and continues to be a memorable one. As we align to newer and more focused strategic growth vectors, Navnit Motors will concentrate on further growing its business operations in Mumbai. We now pass the baton in Bengaluru into the safe hands of KUN Exclusive. We would like to thank our customers for their loyalty and assure a smooth transition to KUN Exclusive. We also thank BMW Group India for their continuous support and close collaboration during this phase. We look forward to setting higher benchmarks in providing world class services to our discerning customers in Mumbai.”

The Bengaluru dealership is headed by Ms. Vasanthi Bhupati, Dealer Principal, KUN Exclusive. KUN Exclusive also represents BMW Group India with sales and service facilities in Tamil Nadu (Chennai, Coimbatore, Madurai), Andhra Pradesh (Vijayawada, Vizag) and Telangana (Hyderabad).

Ms. Vasanthi Bhupati, Dealer Principal, KUN Exclusive said, “KUN Exclusive’s partnership with BMW Group India has flourished year on year and we are very proud of the growth we have achieved. With thriving business operations in Tamil Nadu, Andhra Pradesh and Telangana, establishing a new presence as the dealer partner in Karnataka is another step in building our legacy in the country. We thank BMW Group India for this opportunity and are excited to add another chapter of success to our story. We promise the same unparalleled services and luxurious experiences to BMW and MINI customers in Bengaluru they have always enjoyed and look forward to welcoming new ones to KUN Exclusive family.”

After the transfer of operations, KUN Exclusive will sell and service BMW, MINI and BMW Premium Selection vehicles as usual. 

Revolutionizing Agri-Food Dialogue: Zee 24 TAAS Set To Telecast Shetkari Parishad On August 26, 2023

Zee24 TAAS, Maharashtra's leading Marathi news channel, is set to captivate audiences with its most-awaited impactful Agri-Food Dialogue through the telecast of ‘Shetkari Parishad’ conclave, held in Pune. The telecast, scheduled for Saturday, August 26th, 2023, at 4 PM, promises to be a beacon of transformative dialogue and innovation in the fields of Agriculture and Food Processing.

With an unwavering commitment to fostering progress, Zee24 TAAS brought together leaders, experts, and stakeholders to discuss the key issues facing these critical industries. The Shetkari Parishad conclave not only highlighted the latest developments, opportunities, challenges, but also comprised of in-depth discussions focusing on the path forward for the agriculture and food processing sector.

The wide-spread viewers of Zee24 TAAS will be able to get a deeper understanding on the sector listening to the esteemed voices from various domains, including political leaders and industry experts. Among them, Shri Nana Patole, President of Maharashtra Pradesh Congress Committee, highlighted the need for enhanced budget provisions for agriculture, stating, "Even though India is known for agriculture, the budget provisions are sufficient enough and not planned in a strategized way.” Emphasizing on the importance of soil health, Shri Dhananjay Munde, Minister of Agriculture, Govt. of Maharashtra, also further stated, “Farmers need  to check the quality of soil that will eventually help them to determine the fertility for better harvest”

Speaking on the success of Shetkari Parishad, Nilesh Khare, Editor of Zee 24 TAAS, said, “The Shetkari Parishad is an agricultural renaissance that will echo in the annals of our history. It holds the power to shape a bright and progressive future for the agriculture industry. It is, in fact, a testament to our dedication to fostering impactful conversations that drive innovation and transformation within the sector.“

Abhay Ojha, CEO, Zee Media Corporation Limited, further added, “Our commitment to empowering the agriculture and food processing sector is resolute. The Shetkari Parishad serves as a cauldron of transformation, unifying the forward-thinkers, game-changers, and pathfinders who are scripting a new narrative for this critical sector."

Co-presented by  by Pitambari Nursery Franchise and Akkudas Trading, Shetkari Parishad’s  Tourism Partner was the Directorate of Tourism Maharashtra State, its Banking Partner was Buldhana Urban Cooperative Credit Society Ltd, its Associate Sponsors are Kanhaiya agro, Rajashree lottery, Quick start 24 Group, J.K.Hightek ops Ropvatika, Universal Biocon Pvt ltd, Vidharbha Irrigation system Pvt ltd, Dr.Bawaskar Technology(agro) pvt ltd and DYP Group, the Zee24 TAAS Shetkari Parishad has positioned itself as a catalyst for change in the agricultural landscape.

Zee Media Corporation Ltd, one of India's leading media companies, has a strong presence in the news and regional genres, with 16 news channels in seven different languages, reaching more than 528+ million viewers through its linear and digital properties.

Airtel Payments Bank, Frontier Markets And Mastercard Partner To Support 100,000 Women-Owned Small Businesses In India

* New initiative aims to unlock opportunities for women-owned small businesses by enabling access to tools, resources and networks

Airtel Payments Bank, Frontier Markets and the Mastercard Center for Inclusive Growth today announced the launch of She Leads Bharat:Udyam, an initiative to elevate 100,000 women-owned small businesses with resources, tools and opportunities to grow and diversify their incomes. The announcement was made at the Asia Inclusive Growth Forum, an event convening over 100 cross-sector leaders for candid, impact-driven dialogues on advancing inclusive growth in India and across the global south.

In this first phase, this initiative will enable 100,000 women-owned small businesses in Rajasthan and Uttar Pradesh to learn and earn via Frontier Markets’ proprietary, flexible Meri-Saheli platform. 10,000 of these women small business owners will be further enabled to grow their business by becoming Airtel Payments Bank Business Correspondents (BCs) and unlock additional revenue streams. This is aligned with the Bank’s vision of ‘Empowering India with Accessible and Inclusive Banking.’

“Taking our commitment forward to empower women in rural India to embark on their entrepreneurial endeavours, we are collaborating with Frontier Markets and Mastercard on She Leads Bharat:Udyam,” said Anubrata Biswas, MD&CEO, Airtel Payments Bank. “We take pride to welcome them on board as Business Correspondents, joining hands with our existing network of 50,000 women BCs who play a vital role in taking banking and financial services to underserved rural pockets of the country. We look forward to our journey in building a financially inclusive economy.”

The partners envision She Leads Bharat:Udyam helping to expand access to financial services, delivering a new blueprint for serving rural markets and extending women-owned small businesses with support tailored to their needs.

“More women entrepreneurs are coming into India’s workforce and adding energy to the economy. When these business owners can access credit and digital tools, they can keep expanding and become more resilient. That’s good for their families, employees and communities. That’s what inclusive growth is all about,” said Ari Sarker, President Asia Pacific, Mastercard.

Women-owned small businesses face challenges that can often prevent them from achieving their full potential. In India, women-owned micro, small and medium enterprises (MSMEs) constitute 20% of all MSMEs yet receive only 5% of the total financing provided by public-sector banks.[1] They are often less digitized[2] and receive less training to build their businesses[3]. However, when properly supported, women entrepreneurs are more likely to hire women, more likely to repay credit and more likely to share increased income with their families and communities, serving as core drivers of inclusive economic growth.

She Leads Bharat:Udyam is a first-of-its-kind initiative that brings together the private sector, social enterprise, and philanthropy in the banking, financial services, and insurance sector to demonstrate a digital-first model designed to unlock ways for women-owned small businesses to increase their incomes. Frontier Markets will implement the program and leverage its cadre of Saral Jeevan Sahelis—women entrepreneurs—to identify and onboard women-owned small businesses onto their Meri-Saheli platform. In partnership with Airtel Payments Bank, Frontier Markets will onboard eligible women-owned small businesses as business correspondents and leverage its Saheli network and platform to increase product and brand awareness and generate leads to maximize their earning opportunities. In addition, these women-owned small businesses will get access to a suite of tools, resources, and market services available in the Meri-Saheli ecosystem, offering them ways to learn how to run a successful business and earn more revenue.

“Frontier Markets has built a technology platform investing in the power of women as driving forces for commerce in rural India. Thanks to the leadership of Airtel Payments Bank and support from Mastercard, we can leverage our 10 years of efforts to reach a new level of scale, truly combining the best of global leaders' expertise and resources to support our efforts to deepen the impact that rural women have in building thriving rural markets in India,” said Ajaita Shah, Founder & CEO, Frontier Markets. “This partnership strengthens and enables social enterprises like us to thrive and implement our goals at scale.” 

She Leads Bharat:Udyam will be funded by the Mastercard Impact Fund, and Mastercard will bring the catalytic capital and global expertise of its Center for Inclusive Growth to unlock tools, resources, and networks for the women-owned small businesses.

Airtel Payments Bank’s ground force and Frontier Markets’ Sahelis are already working in the field to bring this partnership to life and identify the first tranche of women-owned small businesses eligible for the program.

ACME Group To Set Up A Green Hydrogen Project At Tata Steel SEZ’s Gopalpur Industrial Park

* Tata Steel SEZ and ACME Clean Energy sign an MOU for the project  

* The total investment in this project by ACME Group is estimated to be Rs 27,000 crore, which will be invested in phases 

* This will be the first green hydrogen project of the state and east coast of India 

* This will be the largest single location green hydrogen and its derivatives manufacturing facility in the country 

Tata Steel Special Economic Zone Limited (TSSEZL) and diversified renewable energy company ACME Group today signed a Memorandum of Understanding (MoU) here to establish a green hydrogen and green ammonia project at the Gopalpur Industrial Park in Odisha, making it the first ever green hydrogen project of the state and also east coast of India. This will be the largest single location green hydrogen and its derivatives manufacturing facility in the country.

Under the definitive agreement, ACME Clean Energy Private Limited (ACME Group) will acquire 343 acres of land in TSSEZL’s Gopalpur Industrial Park (GIP), located in Ganjam district of Odisha, to set up a green hydrogen and its derivatives unit. The total investment in this project by ACME Group is estimated to be Rs 27,000 crore, which will be invested in phases.

The MoU was signed between Manikanta Naik, Managing Director, TSSEZL, and Sandeep Kashyap, Chief Operating Officer, ACME Group, in the presence of Hemant Sharma, IAS, Principal Secretary, Industries Department, Government of Odisha and Chairman, Odisha Industrial Infrastructure Development Corporation (IDCO) & Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL), and Kalyan Mohanty, Executive Director, IPICOL.

Hemant Sharma, IAS, Principal Secretary, Industries Department and Chairman, IDCO & IPICOL, Government of Odisha, said, " We envision Odisha as the hub of Green Hydrogen and Green Ammonia and a leader in the Green Fuel Economy. The state government is firmly committed to green energy, recognizing it as the fulcrum of our future. To catalyze this vision, we're offering best-in-class incentives. Our progressive policy is a testament to our dedication towards a sustainable and prosperous future.”

ACME Group plans to set up a nearly 1.3 MTPA green ammonia production facility at GIP. This green ammonia will be produced from green hydrogen, and the production facilities will be powered by renewable power.

The green ammonia produced at this facility will be exported to markets in the west and east from the existing Gopalpur Port facility, which is near the project site. The utility corridor between Gopalpur Industrial Park and Gopalpur Port provides a dedicated corridor for smooth logistics and pipeline connectivity.

Manikanta Naik, Managing Director, Tata Steel Special Economic Zone Limited, said, "We are glad that with plug-and-play infrastructure, multi-modal logistics connectivity, ready environmental clearance, and a clear land title, Gopalpur Industrial Park, in a very short span since its inception, is fast emerging as the preferred investment destination of India. We would also like to thank the government of Odisha for its industry-friendly policies and incentives that are attracting investments to the state of Odisha."

"We already have some valued clients operational in the industrial park and we are eagerly looking forward to a lot more investors coming forward, adding to the industrial progress of the region, "he added.

TSSEZL, a 100% subsidiary of Tata Steel, is developing its flagship industrial park, Gopalpur Industrial Park (GIP), in Odisha’s Ganjam district. The company aims to develop the GIP as an emerging manufacturing hub for both domestic and export-oriented industries.

Commenting on the MoU, Manoj K. Upadhyay, Founder and Chairman, ACME Group, said, “We would like to express our gratitude to the Chief Minister of Odisha, Shri Naveen Patnaik, the Department of Industries, the Government of Odisha, and other stakeholders for their support to ACME Group’s Green Hydrogen and Green Ammonia project in the state. We have signed MoU with Tata Steel Special Economic Zone Limited (TSSEZL) to set up the facilities. We also thank the Union Minister for Power, New and Renewable Energy, Shri R K Singh, and the Ministry of New and Renewable Energy for their constant support and encouragement to pursue the Green Hydrogen and Green Ammonia project, which will make India a global hub for Green Hydrogen and its derivatives.

This project will enable us to offer Make In India Green Hydrogen and Green Ammonia to domestic and international markets at a competitive price. We are delighted to announce the successful outcome of the recently held Invest Odisha Summit in Tokyo, led by the Hon’ble Chief Minister of Odisha and his delegation, which will be realized through this project. Japan’s IHI signed a preliminary agreement during the summit to invest in a green energy project in Odisha.”

There are five different industrial units already operating in Gopalpur Industrial Park including Tata Steel Mining Limited, Tata Consumer Products Limited, Anadrone Systems Private Limited, East Coast Overseas Private Limited, and Odimet Resources Private Limited.

Besides, a Technical Ammonium Nitrate Complex by Deepak Fertilisers & Petrochemicals Corporation Limited, and one L-CNG Conversion Unit by GAIL Gas Limited are being established in the park.

Union Bank of India Successfully Raised Rs 5,000 Crore Equity Capital Via Qualified Institutions Placement (QIP).

Highlights of the Issue 

Allotment of 57.77 crore shares at Rs 86.55 per share (including premium of Rs 76.55 per share) aggregating to Rs 5,000 crore (Five Thousand Crore).  

The QIP received encouraging response from the market & seen participation by diversified investor base which includes Banks, Asset Management Companies, Insurance companies and Foreign Institutional Investors.  

The QIP has been subscribed by 51 investors, mostly long-only investors, which include 13 FPIs & 38 DIIs. 

Considering financials for June 2023, amount of capital raised through QIP issue will augment Bank’s Common Equity Tier I ratio & overall Capital Adequacy ratio, each by about 84 basis points.  

Union Bank of India, 5th largest Public Sector Bank in India, has successfully raised equity capital of Rs 5000 Crore via Qualified Institutions Placement (QIP) on August 25, 2023.  The Issue was opened on August 22, 2023 and received 100% Subscription.  Bank has allotted 57.77 crore Shares at price of Rs 86.55 per share (including premium of Rs 76.55 per share) aggregating to Rs 5,000 crore representing a discount of 4.9945% to the floor price determined as per Regulatory guidelines.  

On the Successful capital raising, Ms. A Manimekhalai, MD & CEO, says “We are delighted to conclude one of the largest equity capital raising issue in public sector banking space in the recent past. This demonstrates the continued faith of investors on the Bank’s growth trajectory and prospects. Bank has received significant & encouraging response from the market & seen participation by diversified investor base which include Banks, Asset Management Companies, Insurance companies and Foreign Portfolio Investors. The QIP Proceeds will augment the Capital base and help us pursue growth opportunities as we endeavour to create value for the Customers & Shareholders”.  

The overall allocation is a mix of 13 FPIs & 38 DIIs, mostly long only investors, thereby also ensuring diversification of the shareholder base of Union Bank of India.  

As at June 30, 2023, Bank’s CRAR & CET1 was 15.95% & 12.34% respectively. Amount raised through this QIP issue will augment Bank’s Common Equity Tier I ratio & overall Capital Adequacy ratio, each by about 84 basis points.  

As on June 30, 2023, the Public shareholding in Union Bank of India stood at 16.51%. Consequent to the Equity capital raising, the public shareholding in the Bank increased to 23.01% and consequently, Shareholding of Government of India becomes 76.99%.  

IIFL Securities Ltd, J M Financial Ltd., Nuvama Wealth Management Limited (formerly Edelweiss Financial Services Ltd.), Yes Securities (India) Ltd., ICICI Securities Ltd. and BNP Paribas were the Merchant Bankers and Book Running Lead Managers (BRLMs) to the QIP issue. The Legal advisors of the transaction were M/s. Crawford Bayley & Co and M/s Saraf & Partners. The Statutory Auditors were M/s R G N Price & Co., M/s Sarda & Pareek LLP, M/s NBS & Co., M/s C R Sagdeo & Co, M/s PVAR & Associates, M/s Gopal Sharma & Co. 

About Union Bank of India: 

Union Bank of India, established in 1919, is one of the largest Public Sector Banks in India with total business of Rs 19.46 Trillion as on June 30, 2023. Union Bank of India has customer base of over 21.8 Crore and operates through 8,558 Domestic Branches, 3 International Branches, 10,195 ATMs and workforce of over 75,300 employees.  Union Bank of India has 9 Subsidiaries/JV/Associates across various Industries viz. Insurance, Banking, Asset Management, Inter alia.

Make This Raksha Bandhan Extra Special With NueGo's “Exclusive 10% Discount On Bus Tickets For Unforgettable Getaways

* With GreenCell Mobility’s NueGo, you can offer your sister an exciting journey this Raksha Bandhan with 10% off on NueGo booking 

This Raksha Bandhan, NueGo by GreenCell Mobility, the leading intercity electric AC bus service in India, is transforming the essence of the festival by ushering in a new era of gifting and experiences. In a novel initiative to create cherished memories, NueGo invites you to surprise your sibling with an impromptu trip to nearby attractions. Embracing the spirit of sustainable living, the company is committed to offering a remarkable 10% discount on bus ticket bookings made through the NueGo website or application, till 31st Aug’23. 

Celebrating the bond between siblings and the importance of eco-conscious choices, NueGo is proud to present an innovative approach to Raksha Bandhan gifts. This year, as Raksha Bandhan spans over two days, it's the perfect opportunity to present your sister with an unforgettable journey to nearby tourist destinations. With this offer, you’d be able to travel across multiple routes such as Delhi-Chandigarh, Delhi-Dehradun, Delhi-Agra, Delhi-Jaipur, Delhi-Ludhiana, Indore-Bhopal, Hyderabad-Vijayawada, Bengaluru-Tirupati, Chennai-Pondicherry, Chennai-Tirupati and more! 

The campaign is ingeniously aligned with NueGo's vision of promoting clean and sustainable modes of transportation, without compromising on the thrill of exploration. With the 10% discount on bus ticket bookings made exclusively through the NueGo website or app, siblings can seize this limited time offer to create memories that last a lifetime. 

Redefine Raksha Bandhan this year by giving your sister the gift of a memorable journey. Join NueGo in making a sustainable difference, one adventure at a time. 

High-Grade Silicon Steel For E-mobility: Vitesco Technologies Cooperates Closely With Baosteel

* Companies signed a strategic cooperation agreement  

* Partnership on new materials based on high grade non-oriented silicon steel 

* Jointly contributing to ambitious sustainability goals 

Vitesco Technologies, a leading international provider of modern drive technologies and electrification solutions for sustainable mobility, signed a strategic cooperation agreement at its China headquarters with Baosteel, a leading steel conglomerate based in China. By making joint efforts on new materials based on high grade non-oriented silicon steel, the two companies aim to help sustainable mobility, promote the development of e-mobility technology, and create a model of shared value in the industry.  

“The success and growth of Vitesco Technologies in this fast- developing market depend to a large extent on the strong support of our partners. Stepping into this cooperation with Baosteel, I believe we will strengthen our activities and goals in the area of technologies and sustainability,” said Gregoire Cuny, head of Vitesco Technologies China. 

“The cooperation between Baosteel and Vitesco Technologies is a valuable process of win-win results. In 2018, we started the cooperation on the materials of motors on the EMR3 platform. Today’s strategic cooperation agreement will bring our partnership to a higher level and make more contributions to the e-mobility industry,” said Hu Hong, member of the Standing Committee of the Party Committee and deputy general manager of Baosteel. 

Upgrading products with high-grade silicon steel 

High grade non-oriented silicon steel, one of the cooperation targets, can be used in stator and rotor laminations for drive motors, and its high magnetic induction intensity as well as low iron loss features can significantly improve the efficiency and stability of motors. Furthermore, both parties will jointly carry out the development collaboration on related new materials and technology design to expand the use of this high-grade silicon steel in the automotive field.   

The technical achievements are expected to be utilized in Vitesco Technologies’ e-drive systems and thermal management systems in the future. The high-quality performance brought by the electromagnetic performance and mechanical properties will help Vitesco Technologies to continuously provide leading electrification solutions.

Partnering for sustainability and carbon neutrality goals 

Sustainability is at the core of Vitesco Technologies’ strategy. At the same time, carbon peak and carbon neutrality are also important goals to Baosteel. Based on this common concept, both parties will work together to explore carbon reduction measures and actively pursue their ambitious sustainability goals.  

Vitesco Technologies has set itself the goal of achieving carbon neutrality in production and operation by 2030, and to realize carbon neutrality in the entire value chain by 2040 at the latest.

SSBeauty By Shoppers Stop Presents #ShowStoppers'23, The “Ultimate Beauty Festival”

* Redefine your beauty with the SSBeauty Campaign and win an iPhone 15 every day! 

Shoppers Stop, India's leading fashion and beauty destination, is thrilled to announce the launch of its highly anticipated beauty festival, ShowStoppers’23 during the festive season. From August 25th to September 10th, 2023, beauty enthusiasts across the nation are invited to immerse themselves in a world of inspiration and celebration of beauty. SSBeauty Showstoppers ’23 not only celebrates beauty but also offers shoppers a daily chance to win the latest iPhone 15. They have also released a concept video to promote the campaign. 

This interactive beauty festival brings to you a mix of edutainment content like tutorials, live sessions, and the best of offers from renowned brands such as Lakme, Colour Cosmetics, and Honasa consumers and skincare brands like Aqualogica and BBlunt. 

Mr. Biju Kassim, President of Beauty at Shoppers Stop, expressed his excitement about the event during the launch. "Beauty is more than just skin deep," he says, "It’s a celebration of individuality and self-expression. With #ShowStoppers'23, we are strengthening our dedication to beauty in all its manifestations. Our goal is to encourage inclusivity and embrace the various facets of beauty. We are convinced that ShowStoppers'23 will relate with every beauty buff and motivate them to explore, develop, and celebrate their unique identities." 

One of the most intriguing aspects of ShowStoppers'23 is the daily giveaway of the coveted iPhone 15. This exciting addition adds another layer of expectation and excitement to the festival, making it an unmissable event for beauty enthusiasts. 

As Shoppers Stop continues to set new standards in the fashion and beauty industries, #ShowStoppers'23 demonstrates our unwavering dedication to excellence, inclusivity, and innovation. 

Shoppers Stop Limited Announces “Changes In Its Leadership Positions”

Shoppers Stop Limited announced the promotion of Mr.Kavindra Mishra, Chief Commercial Officer and CEO Homestop, as its Executive Director & CEO, subsequent to the resignation of its Managing Director & CEO, Mr. Venu Nair. 

Mr. Kavindra Mishra has been promoted as Executive Director& Chief ExecutiveOfficer - Based on the recommendation of the Nomination, Remuneration and CorporateGovernance Committee, the Board of Directors of the Company(“the Board”), at its Meetingheld today, i.e. on August 24, 2023, approved the promotion and appointment of Mr. Kavindra Mishra (DIN: 07068041) as an Additional Director of the Company w.e.f. September 1, 2023. He has also been appointed as an Executive Director & Chief Executive Officer of the Company for a period of 3 (three) years effectiveSeptember 1, 2023, subject to approval of shareholders of the Company. 

A brief profile of Mr. KavindraMishra is given below : 

The Chairmanof the Company, Mr. BS Nagesh said that “I am delighted that Mr. KavindraMishra, has been promoted as the Executive Director and CEO of the Company. In the last five months he has taken over the charge of Homestop and the commercial part of the Shoppers Stopbusiness. His skills as a Business Leader, strategic expertise and overall understanding of the retail industry is an excellent fit for leading the Company as its CEO and setting high standards. Under his leadership and guidance, I am confidentabout the futuregrowth of the Company” 

Resignation of Mr. Venu Nair, Managing Director and Chief Executive Officer – Mr. Venu Nair has tendered his resignation from his position, effective from the close of business hours of August 31, 2023, due to personal reasons, to enable him to spend more time with his family and explore other options. 

The Board of Directors of the Company at its meeting held today has accepted his resignation and placed on record their appreciation for the contribution made by him during his tenure. He has been instrumental in strengthening the business in the post Covid era, by growing its strategic pillars of fashion, beauty and expansion of the Company’s retail network. He leaves a much-strengthened Shoppers Stop. To ensure a seamless transition, he will continue to guide and advicethe CEO over the next 6 months,in his capacity as a Company official. 

Mr. B.S.Nagesh, Non-Executive Chairman of the Company will handhold during the transition period. He will also mentor and coach the Executive Director & Chief Executive Officer of the Company. 

Friday, August 25, 2023

Suzlon Wins A 201.6 MW Order From O2 Power Private Limited (Teq Green Power XI Private Limited)

* One of the largest order of the new Suzlon 3 MW series turbine

* Suzlon to supply 64 of their largest wind turbines with a rated capacity of 3.15 MW each

* Project to be completed in 2025, with a total installed capacity of 201.6 MW

* This Project will enable O2 Power to provide electricity to ~1.66 lakh households and curb ~6.55 lakh tonnes of CO2 emissions per year

Suzlon Group, India’s largest renewable energy solutions provider, today announced a significantly large new order acquisition for its 3 MW series of wind turbines from Teq Green Power XI Private Limited, part of O2 Power Private Limited. Suzlon will install 64 of its largest wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each for the 201.6 MW wind power project. The project is expected to be commissioned in 2025. 

Suzlon will supply the wind turbines (equipment supply) and execute the project including erection and commissioning. Suzlon will also provide operation and maintenance services post-commissioning.

Girish Tanti, Vice Chairman, Suzlon Group said, “We are delighted to welcome Teq Green Power XI Private Limited, part of O2 Power Private Limited as our esteemed customer through this project. As corporate India embraces renewable energy and India’s ambitions to be carbon neutral, we are committed to partnering with them every step of the way. With an extremely conducive policy environment this order from Teq Green Power XI Private Limited is a testament of India Inc’s commitment to building a sustainable India. The Suzlon 3 MW series is the next stage evolution of our proven technology, customized for the Indian wind regime and 3.15 MW is one of the largest wind turbines in the country today.” 

JP Chalasani, Chief Executive Officer, Suzlon Group said, “We are happy to announce our first order from Teq Green Power XI Private Limited, part of O2 Power Private Limited. With increasing commitment to renewables and rising demand, it is heartening to see more customers joining the Suzlon family. At Suzlon our customers are at the heart of everything we do. This order demonstrates the trust that customers have in Suzlon’s expertise as well as our 3 MW series of products. We believe that our 3 MW series will be a true game changer for the sector to accelerate and scale up wind energy installations in the country in line with our national targets of 500 GW non-fossil fuel installations by 2030.”

Parag Sharma, Founder and Chief Executive Officer, O2 Power Private Limited said: “This partnership with Suzlon for their 3.15 MW turbines for our wind energy project, represents a milestone in our capability enhancement goals, and reflects our determination to work with the best available technologies in our nation-building journey. Clean energy generated by this wind park will play a massive role in providing reliable green power to key industries, while contributing greatly to India’s net-zero goals. We look forward to creating many more similar milestones in the future.”

Rakesh Garg, Founder and Head Wind, O2 Power Private Limited said: “We are committed to contributing significantly to India’s renewable energy targets and are delighted to partner with Suzlon and glad to have them as our partners in continuing our journey towards greener future with this project. Suzlon is closely aligned to the ideology of O2 Power of building a sustainable India through cost-effective, made in India, renewable energy solutions of highest quality and safety standards.”

The Suzlon 3 MW series

The largest renewable energy solutions provider in India, The Suzlon Group is proud to announce its 3 MW series of wind turbines. With the primary objective of increasing generation, reducing the cost of energy, and contributing to an Aatmanirbhar Bharat, this series marks a significant milestone for the company and the country’s wind energy sector.

Suzlon’s 3 MW turbines feature a 144-meter rotor diameter and are designed to unlock low wind sites and deliver improved energy yield suitable for all Indian wind regimes. With local content of up to 85-90% by its serial launch, this series proves Suzlon’s commitment to innovation and self-reliance.

The S144 wind turbine generator is one of the largest in India, extendable up to 3.15 MW, depending on site wind conditions, available at a hub height of 140 meters going up to 160 meters by its serial launch. At 160 meters hub height the S144 will also be India’s tallest wind turbine. Suzlon’s S144 fleet will deliver a remarkable 40-43% higher generation over Suzlon’s current model, the S120 – 2.1 MW wind turbine, showcasing its ability to optimize wind resources at higher altitudes and make low-wind sites viable.

Furthermore, the 3 MW turbine generators feature the time-tested Doubly Fed Induction Generator (DFIG) technology and the SB 70.5 carbon fiber blade engineered and developed by Suzlon. This world-class technology provides the capability to utilize thinner aerodynamic profiles, resulting in excellent performance in low-wind sites, and a significant increase in generation yield per unit of land.

As a leader in the renewable energy sector, Suzlon’s 3 MW series of wind turbines is a testament to the company’s dedication to delivering sustainable and cost-effective renewable energy solutions for the future. We are confident that the 3 MW – S144 technology will contribute significantly to the country’s renewable energy and net-zero targets.

About O2 Power Private Limited

O2 Power, a renewable energy company, aims to scale up to a sizeable portfolio capacity with good quality off-takers including greenfield projects and selective M&A. Since 2020, the company has built a pipeline of ~2.5+ GW of renewable energy assets that is diversified across off-takers and spreads across major renewable energy states of India serving both commercial and industrial customers.

On a strong growth trajectory with a solid foundation, O2 Power has thereby secured its rightful place amongst energy industry peers as one of the fastest growing renewable energy organizations in the country.

About The Suzlon Group

The Suzlon Group is one of the leading renewable energy solutions providers in the world with more than

20 GW* of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India; the Group comprises of Suzlon Energy Limited (NSE: SUZLON & BSE: 532667) and its subsidiaries. A vertically integrated organisation, with in-house research and development (R&D) centers in Germany, the Netherlands, Denmark and India, Suzlon’s world-class manufacturing facilities are spread across 14 locations in India. With over 28 years of operational track record, the Group has a diverse workforce of nearly 6,000 employees. Suzlon is also India’s No. 1 wind energy service company with the largest service portfolio of over 14 GW of wind energy assets. The Group has ~6 GW of installed capacity outside India. The 3 MW Series wind turbine technology platform is the latest addition to its comprehensive product portfolio.

*Global installations of Suzlon manufactured wind turbine generators. Data as on 30th June 2023.

TCPL Green Energy Solutions Pvt. Ltd. (TCPL GES) Signs MoU With Govt. of Jharkhand To Power A Cleaner India

TCPL GES, a wholly owned subsidiary of Tata Cummins Private Limited (TCPL), a 50:50 joint venture of Tata Motors Limited and Cummins Inc. USA, announced today that it has signed a Memorandum of Understanding (MoU) with the Government of Jharkhand to set up a manufacturing plant to produce low-to-zero-emission technologies for mobility solutions. The MoU was signed by Shri Jitendra Kumar, Secretary, Department of Industries, Government of Jharkhand, and Mr. Ajay Patil, Chief Financial Officer, Cummins Group in India, in the presence of Shri Hemant Soren, Hon’ble Chief Minister of Jharkhand, Mr. Girish Wagh, Executive Director, Tata Motors and Mr. Nitin Jirafe, Vice President, Engine Business, Cummins India.

This collaboration demonstrates the State Government’s commitment to India’s Panchamrit Tatva to combat climate change and aligns with Jharkhand Government’s vision of transitioning to a low-carbon economy. Jharkhand will be one of the first states in India to open the doors for manufacturing advanced technology products for the commercial vehicle industry in India, which will contribute to reducing the nation’s carbon footprint.

An investment of over Rs. 350 Crores will be done over the next few years by TCPL GES to produce fuel-agnostic powertrain solutions including Hydrogen Internal Combustion Engine, Battery Electric Vehicle Systems, Fuel Cell Electric Vehicle Systems, and Fuel Delivery Systems.  As a significant step toward investing in future clean energy technologies, the state-of-the-art production facility corroborates with Tata Motors’ and Cummins India’s commitment to the Make in India initiative and making India self-reliant. Like all other Cummins facilities, the TCPL GES site will comply with lean, clean and green manufacturing operations. The plant is expected to commence production in 2024 in a phased manner. As per current plans, the Hydrogen Internal Combustion Engine will roll out first followed by the Battery Electric Components and Fuel Delivery System related products.

This investment will create an anchor enterprise to develop a robust supply ecosystem through value chain creation. The investment will also provide a great opportunity for the state’s skilled youth to work on new technologies and new processes and will help in creating direct employment opportunities of more than 300 youth, thus acting as an enabler to for social and economic development of the state. 

Hydrogen Internal Combustion Engine

The Hydrogen Internal Combustion Engine has the potential to become the most practical solution toward achieving near zero-carbon emissions for medium- and heavy-duty truck manufacturers.

Hydrogen fuel cell

Pegged as the technology of the future, the Hydrogen Fuel Cell powertrain offers zero-emissions power solutions. For customers who aspire to reach zero greenhouse gas emissions, hydrogen fuel cells will be an apt solution when supplied with green H2 as fuel.

Battery-electric technology

Cummins Inc. has developed new-generation battery pack solutions based on deep duty cycle and application experience. The batteries will be equipped with an advanced Battery Management System (BMS) for monitoring various critical battery parameters and diagnostics and improving the battery life and performance. The TCPL GES plant will rely on Cummins’s global experience to manufacture battery electric components.

Fuel Delivery Systems

Providing hydrogen storage capabilities will enable us to accelerate the viability and adoption of hydrogen powered technologies in commercial markets.  The plant will manufacture composite tank systems and tailor-make solutions for hydrogen storage applications.

Expressing his resolve to promote state development in a sustainable and inclusive manner, Shri Hemant Soren, Chief Minister, Jharkhand said, “India is making significant strides in its fight against climate change. The collaboration with TCPL GES is part of Jharkhand's commitment to achieve the country's net-zero target for 2070 and position itself as a hub for new technological developments. This is also an effort to upskill and empower our youth and provide them with an opportunity to contribute to a cutting-edge industry. The plant will help create employment opportunities and thus contribute to the state's social and economic development.”

Speaking on the occasion, Girish Wagh, Executive Director of Tata Motors said, “Since beginning operations in 1945 in Jamshedpur, Tata Motors has established a rich legacy of innovations and industry firsts in its endeavour towards nation building. Today marks another momentous occasion in our partnering with the people and government of Jharkhand for creating future ready sustainable mobility solutions. The state-of-the-art manufacturing facility being set-up will produce hydrogen-based powertrains and battery electric vehicle aggregates and systems using next-gen technologies. These advanced solutions will shape the future of mobility in India by enabling customers to progressively transition to emission free, commercially viable cargo and mass mobility in the coming years.”

Speaking on the occasion, Ajay Patil, CFO, Cummins Group in India said, “With over 30 years of first-hand manufacturing experience in Jamshedpur, we have an intimate understanding of heavy-duty applications and a clear view of the hard work required to transition the commercial vehicle industry to cleaner powertrains. We applaud the Government of Jharkhand for taking bold steps to lead India’s transition to an emission free nation. In line with our Destination Zero strategy, this MoU is a significant milestone on our path to zero emissions, and we are grateful to the Government of Jharkhand for giving us this opportunity to contribute toward lowering emissions today for a better tomorrow.”

About Cummins Group in India

Cummins in India, a power leader, is a group of complementary business units that design, manufacture, distribute, and service engines and related technologies, including fuel systems, air handling, filtration, emission solutions, and electrical power generation systems. With its recent Meritor acquisition, Cummins has expanded its portfolio to include drivetrain, mobility, braking, aftermarket, and electric powertrain solutions for commercial vehicles, and industrial markets. Its technology and pioneering initiatives are bringing innovative solutions and dependable services at the best possible value to users across the country. Its high-performance outlook is based on the customer focus, integrity, and capability of its people. Part of the $28.1 billion Cummins Inc. USA, Cummins in India is a group of various entities with its presence in over 200 locations and 10,000+ employees. Learn more at

About Tata Motors

Part of the USD 128 billion Tata group, Tata Motors Limited (BSE: 500570 and 570001; NSE: TATAMOTORS and TATAMTRDVR), a USD 42 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups,  trucks, and buses, offering an extensive range of integrated, smart, and e-mobility solutions. With ‘Connecting Aspirations’ at the core of its brand promise, Tata Motors is India’s market leader in commercial vehicles and ranks among the top three in the passenger vehicles market.

Tata Motors strives to bring new products that captivate the imagination of GenNext customers, fueled by state-of-the-art design and R&D centres located in India, the UK, the US, Italy, and South Korea. By focusing on engineering and tech- enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused on developing pioneering technologies that are both sustainable and suited to the evolving market and customer aspirations. The company is pioneering India's Electric Vehicle (EV) transition and driving the shift towards sustainable mobility solutions by developing a tailored product strategy, leveraging the synergy between Group companies and playing an active role in liaising with the Government of India in developing the policy framework.

With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors markets its vehicles in Africa, the Middle East, Latin America, Southeast Asia, and the SAARC countries. As of March 31, 2023, Tata Motors’ operations include 88 consolidated subsidiaries, two joint operations, three joint ventures, and numerous equity-accounted associates, including their subsidiaries, over which the company exercises significant influence.

About Cummins Inc.

Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains, and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 59,900 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment, and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $2.1 billion on sales of $24.0 billion in 2021. See how Cummins is powering a world that’s always on by accessing news releases and more information at

Photo Caption: MoU signing between TCPL GES and Govt of Jharkhand.  Left to right - Girish Wagh, Executive Director of Tata Motors; Ajay Patil, CFO, Cummins Group in India; Shri Hemant Soren, Chief Minister, Jharkhand; Jitendra Kumar, Secretary, Department of Industries, Government of Jharkhand..

Godrej Agrovet Celebrates 25 Years Of Its Biostimulant – Combine

* New packaging launched to protect farmers from counterfeits

Godrej Agrovet Limited’s (GAVL) Crop Protection Business today announced that its biostimulant, Combine, has completed 25 years of enabling Indian grape farmers grow better-quality grapes.

Today, India is the 11th largest exporter of grapes in the world with ~1.2 Lacs farmers growing grapes across ~3 Lac acres of total land every year. With 70% of total grapes sown being exported, the total exports have surged at a CAGR of 12.6% in the last decade. And it is herein that Diamore Combine has aided Indian farmers achieve the right berry size and colour for exports whereas Supershakti Combine has aided achieve elongated variety of grapes for domestic market.

Commenting on 25 years of Combine, Balram Singh Yadav, Managing Director, GAVL, said “In a tropical country like India, Combine has been instrumental in aiding farmers get better yield and quality for their grapes. We serve ~90K farming families who grow grapes in close to ~1.5 Lacs acres of land every year.  We are happy to have contributed towards putting India on the global grapes map and bringing prosperity to grape growing farmers.”

Aligned with the guidelines set by the United Nations Economic Commission for Europe (UNECE), ‘Combine’ has been a critical instrument in elevating grape quality. With the right application, grape growers are able to achieve premium parameters such as a bunch weight of 400-500 g, berry diameter of 18 mm and above, uniform berry colour, and improved shelf life. These attributes, in tandem with an ability to reduce impact of disease spreading pests like powdery mildew and downy mildew.

Burjis Godrej, Executive Director & COO, Crop Protection Business, GAVL affirmed, “Grapes stand as a significant contributor to India's export prowess, holding immense potential to bolster our agricultural economy. At Godrej Agrovet, we take pride in our role as enablers, and our product ‘Combine’ emerges as a key to realizing this potential. By enabling grape farmers to grow their harvest aligned to the global quality standards, 'Combine' empowers them to attain exceptional grape quality.”

Considering that the grape is an important fruit with high export potential, it is imperative to have a robust system in place to tackle pests as around 50-80% of the yield is lost due to pest attack. As an integral component of the Integrated Disease Management approach, Combine offers solutions that not only target specific pests but also address potential disease issues in grape cultivation.

The company also launched a celebratory pack marking 25 years of Combine and its commitment to better farming in addition to protecting farmers from counterfeit products. Combine’s new pack is user-friendly and comes in a safe packaging bottle. It has a tamper-evident seal which blasts open and falls when anyone tries to open the bottle. The label has complex watermarks to avoid duplication and the bottle also has a hologram – a unique 9-digit code on each and every bottle to ensure authenticity. While the hologram also has smartly embedded letter ‘G’ to assure the customer that the product is genuine, ‘Braille’ marking on the neck reading danger has also been added for the visually impaired.

Commenting on the same, Rajavelu N.K, CEO, Crop Protection Business, GAVL said, ‘As pests and diseases threaten grape yields, there is a need to popularize Integrated Disease Management in farming community by imparting training to farmers at grass root level. Right from usage of recommended quantity to authentic product, industry-wide collaboration in need of an hour. Additionally, innovative use of biostimulants as an effective integrated pest management tool in horticulture will come a long way in increasing contribution of grapes to overall exports of the country ”

The burgeoning field of biostimulants in Indian agriculture is projected to significantly enhance crop productivity. These compounds have gained increasing importance in modern crop management due to heightened concerns about synthetic chemicals and the impact of climate change. The inclusion of biostimulant regulation in the Fertilizer Control Order since 2021 is a significant step towards responsible and judicious product usage.

About Godrej Agrovet:

Godrej Agrovet Limited (GAVL) is a diversified, Research & Development focused food and agri-business conglomerate, dedicated to improving the productivity of Indian farmers by innovating products and services that sustainably increase crop and livestock yields. GAVL holds leading market positions in the different businesses it operates - Animal Feed, Crop Protection, Oil Palm, Dairy, Poultry and Processed Foods. GAVL has a pan India presence with sales of over a million tons annually of high-quality animal feed. Our teams have worked closely with Indian farmers to develop large Oil Palm Plantations, which is helping in bridging the demand and supply gap of edible oil in India. In the crop protection segment, the Company has strong presence in the B2B segment through its subsidiary Astec Lifesciences and through its extensive distribution, network pan-India delivers innovative agrochemical offerings catering to the entire crop life cycles. In Dairy, Poultry, and Processed Foods, the company operates through its subsidiaries Creamline Dairy Products Limited and Godrej Tyson Foods Limited. Apart from this, GAVL also has a joint venture with the ACI group of Bangladesh for animal feed business in Bangladesh.

For more information on the Company, log on to

DBS Partners With Maptrasco To Complete First Interoperable Electronic Bills Of Lading (eBL) Transaction

* Businesses Keen On Digital trade finance and eBLs can reach out to DBS

DBS, in partnership with commodities trader Maptrasco, announced the completion of the first “live” transaction of electronic Bills of Lading (eBL) for shipments between Singapore and India today. The transaction was implemented under the TradeTrust framework, an initiative by the Infocomm Media Development Authority (IMDA) and supported by Enterprise Singapore.

With this first shipment, businesses across Singapore and India can participate in the TradeTrust network via their respective choice of TradeTrust-enabled platforms to enable the digital trade finance of live shipments of goods between the two countries. Companies keen on executing eBLs in digital Letter of Credit transactions can reach out to DBS.

The project leverages the United Nation’s Model Law for Electronic Transferable Records and aims to drive cross-border document and title exchanges. The successful transaction ushers in a new chapter of more efficient, and interoperable digital bills of lading and is a key milestone in the digital transformation of trade financing.

Bills of lading are essential documents in shipping and logistics, representing legal proof ownership of goods in transit, as well as receipt of goods. Globally, only about 1.2%[1] of bills of lading are issued electronically due to limitations in platforms that are not interoperable or use differing rulebooks and standards, which makes scalability challenging.

Lim Soon Chong, Group Head of Global Transaction Services, DBS, said: “The successful live transaction between Singapore and India is a first step towards a truly digital trade corridor between the two nations. DBS is proud to be able to partner Maptrasco to deliver this solution that makes use of IMDA’s TradeTrust framework and look forward to commercialising this solution at scale across the region and beyond.”

Pawan Khaitan, Founder and Chairman of Khaitan International Pte Ltd and Maptrasco, said: “The implementation of electronic bills of lading, in partnership with DBS, has helped to improve efficiency, reduce operating costs, and significantly speed up transaction times. We believe that digital solutions will be key to help bring in new and expanded business opportunities for Maptrasco.”

The Coca-Cola India Foundation’s Project Jaldhara Refreshing The World Of Thousands In Karnataka

Dwindling ground water was an acute problem in multiple regions of Karnataka. Farmers in these depended on rainwater and bore wells for irrigation. Naturally, ponds and canals dried up a few months after the receding of the monsoon.

This changed in the year 2018 with start of Project Jaldhara which replenished the groundwater levels by construction of check dams with presence in more than 5 districts i.e.  Chitradurga, Chikkaballapur, Yadgir, Kolar, UttarKanada and Shimoga. The project continues to transform lives by significantly improving groundwater levels, enhancing overall crop productivity, and improving the livelihood of farmers through effective water resource management. The project created water replenish potential of over 6,85,000 cum.

In addition to this, Coca-Cola in India through its global and local Foundation provided viable solutions to farmers for cost-effective agricultural practices that led to a significant improvement in the agriculture practices and overall benefits such as increased access to silt and water for irrigation, increased knowledge about effective farming practices and increase in income. The project promoted reduction in agriculture input costs through silt usage, which is a simple and effective mechanism that naturally fertilises the land. The project also focused on establishing 7 Water Management Committees (WMC) and 4 Tank User Groups (TUG) as village-level governing bodies to drive leadership at local level and enable transparent functioning.

The interventions were designed with locally suited approaches to expand the holding capacity of existing water structures and build new ones for effective percolation, which resulted in increased groundwater levels. The project was completed with a budget of INR four crores and benefits at least 1500 households in the region. The benefits of watershed development are manifold, such as improvement in soil fertility and increased availability of water, resulting in higher crop yields, water for household purposes, increased employment opportunities, and socio-economic uplift of the community. Through this project, there has been a 90% increase in borewell water levels because of increased groundwater percolation through the desilting of water tanks. As a result of improved soil quality, 56% of farmers stated that there has been an increase in crop production post-intervention. The average area under irrigation has increased by 35% and majority farmers reports significant increase in crop yield. Farmers are able to cultivate more water-intensive crops like paddy which has helped them increase their income.

OKIE Sustains Impressive Surge In Indian Consumer Electronics Market, Aims For 100 Crore Sales And 100,000 Unit Sales Target

* In the last 3 years, the company has expanded from 1 to 8 states, 300 to 2500 retailers, and 8 to 45 locations

*   OKIE  aims to sell 100,000 LED TVs in CY2023 and will expand its presence to 10,000 stores across 100 locations by the end of the year

OKIE, India's leading homegrown home entertainment brand, has reaffirmed its position as a prominent player in the ever-evolving consumer electronics landscape. With a strong offline presence of 2500 retailers across 45 locations in 8 states, Its flagship Smart LED TVs sold almost 30000  units across seven states by the end of the fiscal year 2022-2023, with over 25,000 units sold during the pandemic itself. And in the last three years, the brand has expanded extensively and now aims for INR 100 crore in sales with a target of selling 100,000 units in CY 2023.

In India, most consumers still prioritise affordability in their electronics purchases. Despite this high price sensitivity, the consumer electronics market is on track to reach INR 12,898.89 Bn by 2027. From the very beginning, OKIE has embraced and understood this reality and leveraged it to its advantage by focusing on competitively priced, top-quality products. This commitment is evident in its flagship Smart LED TVs, available in sizes from 24" to 86". These cutting-edge TVs feature Google TV, WebOS Powered by LG, and Cloud OS, catering to a wide range of preferences. There is also OKIE's upcoming Sports Series Smart TVs, with prices starting at just Rs. 9,990/- for the 32-inch model, Rs. 17,999/- for the 40-inch model, and Rs. 19,999/- for the 43-inch model, offering advanced features such as full HD display, 4K Ultra HD resolution, in-built voice control, and a powerful 10+10 watt sound output.

With a diverse range of such Smart TVs and other home entertainment electronic products, OKIE has firmly established itself in the Western and Southern regions of India, majorly in pivotal states such as Gujarat, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Kerala and Planning to enter in North India States Like Punjab, Haryana, J&K.

"OKIE's growth thrives on unwavering dedication to innovation and quality, essential to our mission of offering exceptional value. Despite challenges, we deliver innovative, high-quality products at fair prices. Our versatile marketing approach merges traditional and digital channels with state-of-the-art tech, enabling us to expand beyond urban areas into tier 2 and 3 markets aggressively. We believe in making the latest tech accessible across diverse geographies, even in smaller cities, swiftly and affordably. Our distinct products and services set us apart," said Jitin Masand, Founder and Managing Director of OKIE.

"We have an upcoming line of investment in expansion, a significant portion of which will be used to expand our capacity from the current 5000 TVs per month to 15,000 TVs. We will also extend our reach by establishing a presence in 10,000 stores across 100 locations by year-end," added Masand.

About OKIE

Headquartered in Mumbai, Maharashtra, Okie is a leading home entertainment brand in India. Founded in 2011 by Jitin Masand, who also serves as the Managing Director, the company is committed to providing innovative and high-quality entertainment products with a strong focus on tier 2 and tier 3 markets. With a wide network of 7500+ retailers and 100+ distributors. Okie is present in the Western and Southern regions  of India, with a reach in over 8 states, majorly in Gujarat, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana & Kerala. Okie is planning to sell over 10,00,00 LED TVs in the current year.

Looking ahead, OKIE is set to introduce the transformative "Okie Experience Zone," an immersive platform that elevates the customer buying journey by offering a comprehensive range of brand products. With a steadfast commitment to being the preferred destination for cutting-edge entertainment solutions, OKIE is poised to shape the future of home entertainment. For more details, visit

Singapore Based Farro Capital Parent Launches New Entity Offering International Mobility Solutions To UHNW Families

* Newly established Farro & Co will provide global families a suite of international mobility solutions, seamlessly integrated with Farro Capital’s wider wealth advisory capabilities

Farro Ventures, parent company of leading Singapore based multi-family office Farro Capital, announces the establishment of its newest subsidiary – Farro & Co – expanding its comprehensive service portfolio to offer a full suite of tailored international mobility and immigration solutions to ultra-high net worth (UHNW) individuals and families. 

Under the leadership of Founder and CEO Nirbhay Handa, Farro & Co aims to revolutionise the global mobility space in close partnership with Farro Capital across key growth markets in India, China, Middle-East and Southeast Asia. Unlike traditional immigration service providers, the firm adopts a holistic approach, bringing together mobility and wealth solutions under one umbrella to give clients a complete picture of the opportunities and risks of their migration decisions through a multi-generational lens. 

The combined platform offers an extensive array of tailored immigration services to cater to the diverse needs and situations of wealthy clientele. These services include migration by investment, citizenship acquisition, skilled visa assistance, business incorporation, international real estate services and more. Furthermore, Farro & Co goes beyond these more traditional immigration services to provide guidance on other critical issues such as tax advisory, wealth management, family office structuring and estate planning strategies through its sister firm, Farro Capital. This integration leverages the combined expertise of both firms to create a seamless and sophisticated platform that truly supports the global ambitions of UHNW families.

"With the surge in demand for mobility solutions and the growing recognition of their benefits, especially within the context of India's thriving global diaspora, which stands as the largest in the world, the intricate nature of today's immigration landscape is often underestimated or misunderstood," explained Handa. "We are here to challenge the existing market offerings by amalgamating unique advisory capabilities that empower clients, including those with ties to India, to establish a global legacy with absolute clarity. Our team believes that without a comprehensive understanding of the potential wealth implications of immigration strategies for families, current firms fall short in addressing the sophisticated needs of today's clients."

With estimates of Asia-Pacific on track to become the largest wealth hub in the world by 2026,  1Farro & Co is well positioned to capitalise on current trends, uniquely attuned to the nuanced needs of an increasingly global client base. The company is backed by a growing team of industry veterans, including pioneers of investment migration and wealth management who oversee more than US $1 billion in assets under management (AUM). 

Most recently, Farro & Co deepened its senior leadership bench this month with the appointment of Tiffany Ong, as Partner, North Asia and Abhishek Menon as, Partner, Middle East, expanding the initial team to a total of 4 Partners and 4 support staff. Ong will leverage more than 15 years of private client experience in leading financial institutions like Bank of China and RHB to drive Farro & Co.’s growth strategy in North Asia with a key focus on China, Hong Kong, and Taiwan. Menon will be responsible for the build out of the firm’s Middle East and South Asia presence, armed with 10 years of client advisory experience with Deutsche Bank in the region.

Commenting on the launch, Farro & Co’s Co-Founder and Managing Partner Sandeep Jain said, "We are excited to be part of Farro family and our comprehensive platform will continue to drive our global expansion, enabling us to provide truly integrated solutions that help families overcome geopolitical uncertainty, seize opportunities and build financial resilience. Guided by our motto, ‘Ambition Sees No Borders’, we have an opportunity to build an international client offering that facilitates innovative, cross-border wealth planning at scale. In recent years, we have seen more affluent families looking for flexible advisory platforms that can bring added geographic diversification and risk mitigation to the wealth management process.”

Bridging Gaps and Empowering Global Indian Families

Singapore based Farro & Co's recent launch addresses a significant gap in the Global Indian and South Asian market by offering comprehensive international mobility solutions integrated with wealth & tax advisory services to ultra-high-net-worth families. Unlike current immigration players, Farro & Co addresses the lack of wealth and estate planning integration in immigration strategies, offering expert guidance from Farro Capital to make informed decisions. This innovative approach fills a critical void and offers sustained value to affluent families. In an industry often characterized by transient and piecemeal solutions, Farro & Co redefines the narrative, ushering in migration strategies with substance. Operating from major financial hubs, Singapore and soon Dubai, the firm is uniquely positioned to cater to global Indian families seeking well-rounded advice. 

“Our mission at Farro Capital is to continually raise the bar of our holistic platform. The launch of Farro & Co reaffirms our commitment to that mission. The synergies between our teams strengthens our ability to serve our clients across generations,” said Hemant Tucker, Co-Founder and CEO of Farro Capital. “We look forward to working closely with Nirbhay and Sandeep to ensure our group becomes the partner of choice for globally minded and ambitious families.” 

Prior to founding Farro & Co Handa held notable senior leadership roles at Henley & Partners, where he served as the Group Head of Business Development and Asia Head of Private Clients. Some of his significant contributions during his time at the firm include, redesigning Henley & Partner’s global business development strategy and managing a substantial portion of the firm’s fee-earning headcount across key regions from South Africa to Israel, and the USA to Hong Kong. Handa was recognised as the Youngest Managing Director in 2020 and the Youngest Group Head in 2021.


With extensive business development and finance experience of 17 years spanning across investment migration, IT and financial services, Jain was formerly responsible for growing the South Asia Operations at Henley & Partners. Prior to that he built, managed, and exited a successful climate tech business. Jain began his career as a management consultant at Accenture and Infosys, gaining valuable advisory experience in the United Kingdom and India.

Amazon Business Announces Business Value Days From 25th – 31st August 2023

* Business Value Days will commence on 25th August 2023 and will run till 31st August 2023 to help all business customers enjoy special deals and offers

* Amazon business customers can avail incremental deals and offers on Laptops, Smart Watches, Home and Kitchen Appliances, Home improvement, electronic  products, ACs, Accessories, office products, and many other products

* Customers can enjoy 10% cashback, up to INR 500 on orders above INR 2500 or more on their prepaid orders

* Customers can avail up to 70% off on Home and Kitchen appliances such as mixers, juicers, and grinders and 60% off on office furniture and up to 60% off on laptops 

Amazon Business announced the commencement of its flagship event, Business Value Days for all business customers starting from 25th August and through till 31st August 2023. The event will provide extra benefits to enterprise customers who can enjoy unmatched deals and offers on products such as smartwatches, home and kitchen appliances, laptops, office furniture, security cameras, smart TVs, and many more.

Enterprise customers can enjoy 10% cashback up to INR 500 on orders above INR 2500 or more on their prepaid orders. Business customers can avail up to 60% off on laptops and monitors and up to 75% off on smartwatches. They can enjoy up to 70% off on Home and kitchen appliances, Décor and furnishing products, and other home improvement products. Additionally, they can also avail up to 65% off on smart TVs and up to 60% off on ACs and washing machines.  

In addition to these benefits, enterprise customers can also adopt other features such as a Multi-user account, pay later, Bill to Ship to, and Approvals to make business purchases more efficient.

Business Value Days aim to help all enterprise customers by providing over 19 Cr GST-enabled products across top categories at exciting prices. It also gives an opportunity to over 10 Lakh sellers on the platform to sell products in bulk to all businesses. Existing Amazon Business customers can gather more information about the event after signing into their business account. New customers can also see the visibility and know more about the sale event once they create a free account on 

Customers can also place bulk orders by sending an email to

Here are the great deals across categories on Amazon Business during Business Value days.

Computer, Laptops and Electronics: 

Up to 75% off on smartwatches 

Up to 60% off on trending laptop deals 

Up to 60% off on Dell and Honor laptops

Up to 50% off on monitors

Large Appliances:

Up to 55% off on washing machines

Up to 40% off on ACs

Up to 60% off on other trending deals 

Kitchen Products: 

Up to 40% off Home & Kitchen Appliances

Up to 70% off mixer, grinder, and juicer

Up to 70% off on other trending kitchen deals 

Office & Home Improvement

Up to 50% off on security cameras

Up to 70% off + extra discount up to INR 3000 off on Blaupankt

Up to 65% off on smart TVs

Up to 65% off on 43 inches TV

Up to 50% off on other trending TV deals 

Additional offers: 

Up to 70% off on Decor & Furnishing products

Up to 50% off Power & Hand tools

Up to 60% off on office furniture

Since its launch in 2017, Amazon Business has always worked to add value and convenience to its customers’ businesses. This sale event aims to help all Amazon Business customers acquire business supplies at amazing deals and offers, further minimizing the cost of procurement. 

About Amazon Business 

Amazon Business is a business-friendly marketplace on launched to meet the business-procurement needs of different institutions such as hospitals, clinics, manufacturers, universities, schools, NGOs, government bodies and offices. Amazon provides technology-led procurement solutions built specifically for businesses, attractive pricing and a convenient and transparent shopping experience associated with Amazon. For more information, visit  


Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfilment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon.

CtrlS And NT Enter Into Strategic Collaboration For Thailand Hyperscale Datacenter Campus

* The collaboration will elevate Convergence of Datacenter, Cable Landing Stations & Terrestrial networks for the upcoming 150-MW datacenter campus, CtrlS’ first overseas datacenter

* Datacenter development in the Eastern Corridor will attract both international and domestic hyperscale and enterprise customers, including heavy industries (Automotive, Manufacturing & Petrochemicals), food processing and other key industries

CtrlS Datacenters Ltd, Asia's largest Rated-4 Datacenter (DC) operator, is collaborating with National Telecom Public Company (NT), a telecom provider who has the most extensive international communication networks and the most submarine cables landing in Thailand, for its upcoming 150-MW datacenter campus at the Eastern Economic Corridor (EEC) in Chonburi, Thailand. The greenfield datacenter campus in Thailand marks CtrlS’ first international market expansion as well as its first hyperscale datacenter campus in Thailand.  

The digitalization across Thailand, deployment of 5G, and improved connectivity with highly efficient submarine cables with countries such as USA, China, Japan, Singapore and Taiwan makes the country an attractive hub for digital infrastructure. Additionally, the datacenter development in the Eastern Corridor will attract both international and domestic hyperscale and enterprise customers, including customers from heavy industries (Automotive, Manufacturing & Petrochemicals), food processing and other key industries.

CtrlS is building a hyperscale datacenter campus with design capacity up to 150 MW in Chonburi, Thailand, and NT will be one of the partners for Network/Connectivity. CtrlS and NT are entering into a collaboration of convergence of data center colocation services, cable landing station (CLS), network connectivity hub and various cloud based services, known as Convergence of DCT (Data Center, CLS & Terrestrial).

CtrlS’ datacenter site at EEC offers proximity to submarine cable landing stations for existing AAG (Asia-America Gateway) cable system and upcoming ADC (Asia Direct Cable) cable system, to be launched in the first quarter of next year, making this datacenter a nodal point of interconnection equipped with submarine and terrestrial cable networks to connect to other data centers & industrial estates. It is also close to the EEC startup incubator and is away from flood prone regions (with Mean Sea Level >40m).

Speaking on the MoU, Sridhar Pinnapureddy, Chairman, CtrlS Datacenters, said, “Through this collaboration, we aim to serve customers’ needs for digital services, both domestic and international. The datacenter is designed to serve hyperscaler needs in addition to serving high-end IT/compute needs of domestic enterprises. We see this datacenter as a unique opportunity to contribute towards development of Thailand’s eastern region and offer a robust diverse option for international customers and partners for establishing their footprint in the country and region.”   

Ashish Ahuja, CTO, CtrlS Datacenters, added, “We are delighted to have this strategic collaboration with NT extending their AAG, ADC and future submarine cable landing stations into this datacenter and jointly develop a new Teleport and Point of Interconnection in the facility enabling our datacenter customers to have seamless connectivity within the country and to other markets in the region. This collaboration will help develop Chonburi as new international hub for regional & global content/cloud players to interconnect, providing additional diversity to serve the region in a much efficient manner.”

National Telecom Public Company Limited (NT), a provider of data communication networks both domestically and internationally, has developed telecommunication infrastructure services in the Eastern Economic Corridor (EEC). In collaboration with domestic and international telecom operators, NT is committed to building digital capabilities as well as investing and expanding Thailand’s communications to the world.

Colonel Sanpachai Huvanandana, President and CEO of NT, said “NT is very pleased to cooperate with CtrlS in building this datacenter campus, which is the first hyperscale datacenter campus in the eastern region of Thailand. This MoU marks the commitment to upgrade the telecommunications network and support the use of digital technology for the industrial sector in the Eastern Economic Corridor (ECC) through both parties’ strengths in resource, expertise, and infrastructure.”

“This will in turn push Thailand to become an attractive economic center for investors in various industrial sectors and support digital investors in Thailand and from abroad to invest in businesses related to various technologies such as 5G, AI, Cloud, IoTs, Smart City, and Big Data, as well as being a business destination for global content operators.”, he added.

Seikson Mitkasem, Senior EVP (Marketing and Products) of NT, said “For this collaboration, NT is ready to support telecommunication infrastructure, especially the information communication network that covers both domestically and internationally. Currently, NT’s communication network not only features more than 10 connection points to neighboring countries but also has a worldwide coverage. There are six submarine cable stations ready to connect via nine submarine cable systems, including AAE1, AAG, APG, FLAG, SJC, SMW-3, SMW-4, TIS, and ADC as well as PoPs (Point of Presence) in all regions of the world that serve as a connection point to transmit data.”

In July this year, CtrlS has signed a Memorandum of Agreement (MoA) with EECO (Eastern Economic Corridor Office) to lease a land parcel located at Chonburi Province for setting up the hyperscale datacenter campus.

About CtrlS Datacenters

CtrlS Datacenters Ltd, which began its operations in 2007, operates 11 datacenters across six key markets, and is developing 21 datacenters currently out of which five are to be operational in 2023. The company is scaling power capacity from existing 225 MW to over 1,000 MW and also building a solar park near Mumbai to power its datacenter facilities and eliminate carbon footprint. The company is embracing renewable energy for a sustainable future. CtrlS has announced its plans to explore new overseas markets in Asia Pacific and Middle East. Homepage:

About NT

National Telecom Public Company Limited (NT) is a Thai state-owned telecommunications company, established and corporatized in 2021 from the merger of CAT Telecom and TOT Public Company Limited. NT's main line of business is Hard Infrastructure, International telecommunications infrastructure, International Internet gateways, Fixed Broadband, Mobile Network Service and Digital Infrastructure & Service. Homepage:

TiE Delhi-NCR’s India Internet Day 2023 Unveils AI’s Roadmap For Indian Market

* We've launched  Deeptech Cluster seedfund amounting to 25cr dedicated to nurturing startups specializing in Deeptech & AI: Priyank Kharge at TiE Delhi-NCR’s India Internet Day 2023

* Bhavish Aggarwal, Co-Founder, Ola Cabs & Ola Electric felicitated with the Spirit of TiE Award

* Launch of Havas Media Report -  Shaping Consumer Experiences : How India Buys and How Tech Is Shaping Ecommerce Adoption & Experience

* Demo & Showcase  by  5 path breaking AI start-ups 

* 50 Investors  / 200+ Startups interacted with the Investors during the Lunch with Investors session

TiE Delhi-NCR, in partnership with TiE Bengaluru - chapters of The Indus Entrepreneurs (TiE) a global organization fostering entrepreneurship, jointly kickstarted the first leg of the 12th Edition of India Internet Day (iDay2023).  

A flagship event by TiE Delhi-NCR, iDay stands as the largest confluence of technopreneurs and investors. The Bengaluru leg of the event provided an insightful platform to explore the transformative capability of Artificial Intelligence (AI) for India's growth.

"We've launched  Deeptech Cluster seedfund amounting to 25cr dedicated to nurturing startups specializing in Deeptech & AI" shared Priyank Kharge, Hon’ble Minister for IT/BT and Rural Development & Panchayat Raj, Govt of Karnataka at the event.

iDay2023 included  deep conversations around ethical considerations, regulatory frameworks, AI in Media & Content, SAAS, and Fintech offering a space to dive into the exciting world of AI and understand its crucial role in shaping India's future. The focus of the conversations were to unlock the immense possibilities that AI holds for our nation.

Speaking at the event, Bhavish Aggarwal - Co-Founder, Ola Cabs & Ola Electric said- "We in India, especially my generation, are living in such an exciting time. This is India's moment, it is fuelling India a few decades ahead. This is our generation's opportunity to build and not just opportunity, this is our destiny". Mr. Aggarwal also felicitated with the Spirit of TiE Award.

The exceptional line up of speakers for the event included institution builders, leading tech entrepreneurs, nation’s top investors and policy makers.  

Speaking on the occasion, Ms. Geetika Dayal, Executive Director, TiE Delhi NCR, said, “For 12 remarkable years, India Internet Day has been a driving force behind the growth and transformation of India's internet, technology, and entrepreneurship ecosystem. #iDay hosts the entire gamut of internet and mobile industry in India like no other forum.We are glad to have partnered with TiE  Bengaluru this year again to bring iDay to the city”

AI demo hub grabbed the attention of the attendees at the TiE Delhi-NCR's India Internet Day 2023. With the AI demo hub, attendees got a chance to  witness breakthrough AI technologies and innovations up close, experiencing firsthand the cutting-edge solutions that are shaping the future.

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