Insurtech Startup Covrzy Secures Broking License From IRDAI

* Gears Up to Transform Business Insurance for Indian MSMEs and Startups

* Obtaining the broking license from IRDAI will significantly bolster Covrzy’s credibility

*  Catering to the underpenetrated business insurance market in India, Covrzy’s full-stack platform enables end-to-end management of the entire insurance cycle

*  The startup is working towards making the business insurance buying journey for startups and SMEs in India seamless and hassle-free

Bengaluru-based Bizcovr Insurance Broking Private Limited, operating under the brand name Covrzy, has been granted a direct broking (general) license by Insurance Regulatory and Development Authority of India (IRDAI) – the nation’s insurance sector regulator under Ministry of Finance, Government of India. This enables Covrzy to operate as a direct insurance broker in India, offering a full spectrum of business insurance solutions, while also parallelly enhancing the startup’s credibility.

Covrzy, a fast-growing insurtech startup, is dedicated to providing a seamless, customer-friendly insurance buying journey, particularly for startups and SMEs/MSMEs in India. Addressing the country’s under-penetrated business insurance market, Covrzy’s comprehensive platform – which is currently web-based – helps its users in managing their entire insurance cycle, from product discovery to purchase, servicing, and claims.

Speaking about the milestone, Ankit Kamra, Co-founder & CEO of Covrzy commented, “We are thrilled to receive the broking license from IRDAI – which serves as a testimony to Covrzy’s pioneering innovation and dedication towards revolutionizing the business insurance landscape in India. This significant compliance milestone enables us to serve and establish our credibility amongst a larger customer base and expand rapidly, thus propelling our mission to make business insurance simple, personalized, and accessible to millions of SMEs and MSMEs across India ''.

Cofounded in 2023 by Ankit Kamra and Veera Thota through Antler’s Residency Program, Covrzy has already attracted significant venture capital. In May last year, they raised pre-seed funding of $400K in a round led by Antler, with participation from Shastra VC (formerly Veda VC).Ankit Kamra, is a 2X founder. Before co-founding Covrzy, he was a founding member and head of partnerships at Plum (Healthtech Startup). He has also led the 0-to-1 journey of building Karbon Card (YC-backed) as an operator. Veera Thota (CTO) has 13+ years at Razorpay, PayPal and Amazon where he built scalable systems and public-facing APIs.

“At the moment, only around 1% of Indian MSMEs are insured. With our flagship full-stack platform, we at Covrzy are poised to transform this scenario for the better, as we move ahead to accelerate and enhance insurance penetration within the segment and support these vital business ventures that form the backbone of our economy. In the long term, all of our efforts would be directed towards protecting the health and life of these businesses in the easiest possible manner, allowing the business owners to focus on growth rather than worrying about inherent risks”, adds Ankit Kamra.

Covrzy is well-positioned to solve India's massive underinsurance problem for SMEs by offering simple, affordable and flexible business insurance solutions. Through its digital-first approach, Covrzy empowers SMEs with tailored insurance and claims support, democratizing insurance distribution in India.

Till date, Covrzy has on-boarded over 500 clients pan-India, including both MSMEs and startups, with Redcliffe Labs, Orange Labs, Karboncard, and Schbang being some of their prominent clients. The startup has also collaborated with various renowned insurer partners like ICICI Lombard, Bajaj Allainz, IFFCO Tokio, etc., in a bid to offer a wide array of insurance products such as commercial general liability, fire & theft insurance, product liability, cyber insurance, stock insurance, asset insurance, among others. Currently, the company is on track to onboard and help 10,000+ customers with their business insurance requirements during the upcoming 12 to 18 months. Whereas over the next few years, the company aims to secure over one million businesses through Covrzy.

About Covrzy

Covrzy is an insurtech startup revolutionizing the way Indians buy business insurance. The company is building a digitally-native insurance business that revolutionizes the process of purchasing and servicing business insurance by transforming every step of the customer value chain to attract first-time business insurance buyers. In just a year since its inception, Covrzy has helped 500+ businesses with understanding of right business insurance.

About Covrzy Founders: Ankit Kamra (CEO) scaled Plum as a founding member and head of partnerships. He also led the 0-to-1 journey of building Karbon Card (YC backed) as an operator. Veera Thota (CTO) has 13+ years at Razorpay, PayPal and Amazon where he built scalable systems and public-facing APIs.

Website: https://www.covrzy.com/

Reliance General Insurance Launches "Insurance Awareness Program" In Kadabagere

In a significant move to support the Insurance Regulatory and Development Authority of India's (IRDAI) Vision 2047 - ‘Insurance for All,’ Reliance General Insurance is proud to announce its collaboration with Maruti Suzuki Insurance Broking for launching an Insurance Awareness Program in Kadabagere, which includes a comprehensive health and vehicle check-up camp.

This collaborative initiative underscores our unwavering commitment to enhancing insurance awareness and accessibility in rural areas. By bringing essential health services and vehicle safety checks directly to the community, we are addressing critical needs and promoting both safety and well-being.

The Insurance Awareness Program aims to educate the residents of rural regions about the various insurance products available, the importance of being insured, and how insurance can provide financial security. The health and vehicle check-up camp will offer free health screenings and vehicle safety inspections, ensuring the well-being of the community and the safety of their vehicles.

Maruti Suzuki Insurance Broking has been a pivotal partner in this initiative, providing expertise and support to make this program a success.

ESDS Software In Association With United We Stand Foundation Leads The Way In Conservation With Tree Plantation Drive In Nashik

ESDS Software Solution Limited, a sovereign cloud services company and United We Stand Foundation, recently organized a mega tree plantation campaign at Sandip University, Nashik. Over 2000+ Trees were planted as part of ESDS's ambitious plan to plant over 1 billion trees, symbolizing their commitment to environmental sustainability. Themed "Nashikkar, Your Home Needs a Tree, Join the Mass Movement to #reGREENNASHIK," this initiative was a collaboration between ESDS, and United We Stand Foundation, aiming to engage the entire Nashik community in rejuvenating the city's green spaces.

The drive was inaugurated by?Mr. Piyush Somani, Founder, CMD, CEO – of ESDS Software Solution Ltd, with?Mrs. Komal Somani, WTD, CHRO – ESDS Software Solution, by planting a sapling at Sandip University, Nashik, followed by Dr. Rajendra Sinha, (Vice Chancellor Sandip University), Mr. Sagar Matale (Founder and President United We Stand Foundation), Mr. Prafull B Sawant. (Brand Ambassador Nashik Municipal Corporation), 7 Maharashtra Battalion NCC Nashik, Mr. Amit Kulkarni (Nisarga Yuva Manch Maharashtra), Mr. Ankush Chavan (Vice President United We Stand Foundation), Mr. Sachin Devare (Garden Inspector Nashik), Mr. Bipin Shewale (PI Trimbakeshwar) Mr. Shahaji Shah (Hirvankur Foundation) Mahendra Nikum (RFO Samajik Vanikaran Keshtra Nashik), Mr. Tejas Talware (Nashik Ploggers), Mrs. Asha Suvarna(The Gateway Hotel Taj Nashik), Mrs. Agastya Munim (Rotary Club of Nashik North), Dnyaneshwar Dhamne (Nashik Smart City), Adesh Karpe (Karmayogi Career Academy), Akhula Bhamare (Umeed Foundation), Mr. Dharmesh Panchal (United Rockers), Miss Gauri Bhamare (Royal Enfield United).

"We are immensely proud to launch the 'Nashikkar, Your Home Needs a Tree, Join the Mass Movement to #RegreenNashik' initiative with the United we Stand Foundation. This mega plantation drive is a crucial step towards combating the rising temperatures and environmental degradation in our beloved city. By engaging the entire Nashik community, we aim to create a greener, healthier, and more sustainable future for generations to come. I urge everyone to join us in this mass movement and take an active role in regreening Nashik. Together, we can make a significant impact and ensure a better environment for all, “said Mr. Piyush Somani – Founder, ESDS Software Solution Limited.

Over 750+ volunteers participated in a well-organized campaign, demonstrating a collective solid commitment to environmental conservation. This impressive turnout included employees of ESDS Software Solution, all the members of the United We Stand Foundation, NCC cadets, 20 NGOs, government officials, and various other individuals from Nashik City. The diverse group came together with a shared goal of making a positive impact on the environment. Their collaborative efforts exemplified the power of community engagement in promoting sustainability and set a commendable example for future initiatives. The initial stage of this plantation drive received colossal success, and the subsequent drive will be organized in August. 

Commenting on this occasion, Mrs. Komal Somani, CHRO, ESDS Software Solution Limited, stated?"Once, when I was having a conversation with my son Priyansh, I asked him, ‘What gift would you want from us when we grow old?’ his reply amazed me; he said, 'The only thing I want from you or your generation is a world where we can breathe, live, and be happy.' Priyansh's words remind us that we all have a significant role to play in protecting our environment. Let’s go beyond awareness and take actions to provide a sustainable future for generation to come. The onus of parallelly developing green covers across geographies lies not only with an individual or the government but also with responsible corporates like ESDS. I am happy to be a part of such an initiative where the employees have come together as a family and contributed to the core principles of sustainability by pledging to plant 1B+ tress for the larger good of the community and coming generations.” 

Speaking on the occasion, Mr. Rajendra Sinha, Vice Chancellor Sandip University, “I am honoured to be here and proud to have contributed our property to this wonderful initiative by United We Stand Foundation and ESDS Software Solution Ltd. We are committed to making our surroundings beautiful and green and hope to receive ongoing support from ESDS for these efforts in the future.” 

Commenting on the occasion, Mr. Sagar Matale, Founder and President of United We Stand Foundation, expressed heartfelt gratitude towards all participants: "I extend my sincere thanks to everyone who joined us today, including the dedicated NCC cadets, representatives from all NGOs, government officials, and the enthusiastic individuals from Nashik city. Your presence and active involvement have made this tree plantation drive successful."

He continued, "As the Founder of United We Stand Foundation, it fills me with immense pride to witness such collective efforts towards securing a sustainable future for generations to come. Our foundation will always remain committed to nurturing green spaces and fostering environmental consciousness, United We Stand Foundation will always be in the forefront for social activities that will create an impact for the betterment of the society.

ESDS ardently endeavours to play a pivotal role in fostering a sustainable and ecologically enriched future. Our commitment is demonstrated in the past through our tireless efforts to transform Ramshej, a barren land in Nashik, into a thriving ecosystem. With the collective efforts of ESDSians, we have successfully planted approximately 300,000 trees and distributed seeds, covering a plantation area of 68,710 square meters. This remarkable achievement stands as a testament to our dedication to environmental conservation and our vision of creating a greener planet for future generations. 

About ESDS: ESDS Software is India’s leading cloud service and end-to-end multi-cloud requirements provider, with a presence across the APAC region, Europe, the Middle East, the Americas, and Africa. It offers cloud computing Infrastructure as a Service (IaaS), Software as a Service (SaaS), and managed services. The company operates on an asset-light model and offers products across diversified industries, including government ministries & companies and corporate entities across sectors such as BFSI, manufacturing, IT and ITES, telecom, real estate, pharmaceuticals, retail, and education. The company operates its business through three data centers in India, one each in Navi Mumbai, Nashik, and Bengaluru, covering over 50,000 sq ft. ESDS is an innovation-driven company and is one of the few data center and cloud services providers with its own R&D team comprising 177 members. The team has indigenously developed several products that complement the data center and cloud business, such as eNlight Cloud, eMagic, eCos, eNlight WAF, eNlight IoT, eNlight DRM, eNlight Meet, and eNlight SIEM. The company is committed to innovation and focuses on creating more niche and cost-effective technology products and solutions. ESDS Software is the market leader in hosting government cloud applications and has the largest number of banking customers in India. For more details, visit: www.esds.co.in

IN-SPACe Leads Indian Delegation To The 17th Australian Space Forum, Extending International Collaboration

The Indian National Space Promotion and Authorization Centre (IN-SPACe) led a delegation of Indian space startups to the 17th Australian Space Forum in Adelaide on 24th and 25th July. During the two-day event, the delegation highlighted India's growing prowess in space technology and strengthening international collaboration.

The delegation, led by Dr. Vinod Kumar, Director Promotion, IN-SPACe, and Mr. Shashank Saxena Deputy Director IN-SPACe, included participants from Indian companies such as Agnikul Cosmos, TakeMe2Space, Dhruva Space, Bellatrix Aerospace, XDLINX Space, mistEO OrbitAid Aerospace and Skyroot Aerospace. During the visit, cutting-edge space projects, products, and services were showcased sparking numerous business-to-business meetings and discussions with Australian counterparts.

Notably, two significant Memorandums of Understanding (MoUs) were signed during the forum. The First MoU between HEX20, an Australian Satellite Platform company and OrbitAid, an Indian company specializing in developing satellite life extension solutions. OrbitAID and HEX 20 will collaborate for in-orbit refuelling technology demonstration.

The second MoU was signed between HEX20 and TakeMe2Space, an Indian Startup building AI-first compute & storage satellite infrastructure. TakeMe2Space and Hex20 will collaborate at the intersection of education, space, and AI. As part of the agreement, HEX20 will use TakeMe2Space AI modules and subsystems in their flatsat. TakeMe2Space will give access to its OrbitLab platform for researchers and students to test and run their models on an actual satellite in real-time.

Both the MoUs were signed in the presence of Dr. Vinod Kumar, Director Promotion, IN-SPACe and Mr. Enrico Palermo, Head of Australian Space Agency.

“The Australian Space Forum provided an invaluable platform for Indian space startups to showcase their capabilities and explore potential collaborations with Australian partners. These MoUs represent a significant step towards strengthening ties between our two nations in the space sector." said Dr. Vinod Kumar, Director Promotion, IN-SPACe.

About IN-SPACe:                                                                        

Indian National Space Promotion and Authorization Centre (IN-SPACe) is an autonomous nodal agency under Department of Space, Government of India formed on 24 June 2020 to promote, enable, authorize and supervise non-government entities (NGE) to undertake space activities. These activities include manufacturing of launch vehicles and satellites, providing space-based services, establishing a ground station, sharing of space infrastructure & facilities; and establishing new facilities under DOS.

IN-SPACe is currently functioning with three directorates viz., Promotion Directorate (PD), Technical Directorate (TD) and Program Management and Authorization Directorate (PMAD) and Legal, Finance and Administration Wing with its headquarters at Ahmedabad.  

Yakult Danone India Expands Its Product Portfolio By Introducing “Yakult Light Mango” Flavour

* Adding a refreshing twist to its probiotic beverage portfolio

Yakult Danone India Pvt Ltd, a globally renowned probiotic brand, has announced that it is expanding its product portfolio by introducing a new variant – “Yakult Light Mango” Flavour. The launch event was graced by Bollywood star Sanya Malhotra, Mr Takashi Ariyoshi, Minister and Deputy Chief of Mission of the Embassy of Japan in India, Mr Eiji Amano, Managing Director of Yakult Danone India Pvt Ltd, and Dr Neerja Hajela, Head – Science and Regulatory Affairs of Yakult Danone India Pvt Ltd.

Yakult Light Mango Flavour is a sister product of the signature Yakult. The new product contains the same unique probiotic, Lactobacillus casei Shirota (SHIROTA strain), in the same amount of 650 crores as the original and flagship Yakult. The original probiotic drink was invented by a Japanese medical doctor called Dr Minoru Shirota and designed to take in the human-friendly bacterium that had the ability to reach the gut alive and impart tremendous health benefits. Saddened by the death of children caused by infections due to inadequate hygiene and poverty in Japan in the early 1900s, he emphasised on preventing diseases with the power of probiotics rather than curing diseases and infections after they occur. He embodied his ideal by launching SHIROTA strain as a food in the market so that as many people as possible could get the benefit of the probiotic bacterium while enjoying the delicious taste. Through more than 90 years of research, SHIROTA strain has been scientifically proven to help improve digestion and build immunity when consumed regularly. Based on Dr Shirota’s philosophy, the Yakult company in India came to launch Yakult Light Mango Flavour, a national-favourite-fruit-taste product, to contribute to the health of more people in India.

The retail price of Yakult Light Mango Flavour is Rs. 100/—for a pack of 5 bottles, which will be available at retail outlets in 28 states and 5 union territories from 25th July 2024 onwards. Also, Yakult has a unique home delivery sales channel, where nearly 300 ‘Yakult Ladies’ deliver the products to the customers' doorstep in Delhi NCR, Chandigarh, Jaipur, Mumbai, and Pune. Yakult products, including Yakult Light Mango Flavour, are also available through e-commerce.

Speaking about the launch of Yakult Light Mango Flavour, Mr Eiji Amano, Managing Director, Yakult Danone India Pvt Ltd, said, “At Yakult, our core philosophy is to enhance the gut health of consumers worldwide using our unique probiotic strain “Lactobacillus casei SHIROTA strain”. With over 2 lakh bottles of Yakult consumed daily in India, we have become a household name, enjoyed by many families as part of their daily routine. With the launch of Yakult Light Mango Flavour, we are expanding our product portfolio to cater to the tastes and preferences of Indian consumers. This new variant maintains the same health benefits as our classic Yakult while introducing a delightful mango flavour that is widely loved. We believe this addition will appeal to our consumers who relish mango taste.”

Taking centre stage at the launch, Bollywood actress Sanya Malhotra said, “I am super excited to be a part of this exciting launch. There is great concern about the increasing rise in lifestyle disorders due to erratic lifestyles, poor nutrition, stress, lack of adequate sleep, pollution and generally poor gut health. I take my daily dose of probiotics to keep my gut healthy, and Yakult has been an integral part of my diet for a long time now. Today, I am pleased that the company has introduced Yakult Light Mango Flavour, which tastes delicious and refreshing. I am sure it will be a favourite among all mango and Yakult lovers.”

Dr Neerja Hajela, Head - Science and Regulatory Affairs, Yakult Danone India Pvt Ltd, added that Lactobacillus casei strain Shirota (SHIROTA strain) is unique to Yakult, and is backed by more than 100 human studies conducted across the globe, including India. Probiotics are essential as they increase the good bacteria in the gut and reduce the harmful disease-causing bacteria. By doing so, they ensure better digestion of food, proper absorption of nutrients and stronger immunity to reduce the risk of infections. A decrease in probiotic bacteria in the gut, coupled with poor lifestyle, can lead to poor gut health and weak immunity, manifesting as fatigue, poor growth and development, malnutrition and repeated infections. To keep the gut healthy, it is essential to introduce probiotics into the daily diet through scientifically validated probiotic products.

Photo Caption: Bollywood Actress Sanya Malhotra, Mr. Takashi Ariyoshi, Minister and Deputy Chief of Mission of Embassy of Japan in India and Mr. Eiji Amano, Managing Director of Yakult Danone India Pvt Ltd at the launch of Yakult Light Mango flavour.

Blue Dart Announces 'Rakhi Express Offers’ On Domestic And International Shipments

Blue Dart Express Limited, South Asia's premier express air, integrated transportation, and distribution logistics company, is delighted to announce its annual “Rakhi Express” offer, celebrating the special bond between siblings, this festive season. Customers can enjoy an all-inclusive discounted price of Rs. 250/- for Rakhi shipments up to 0.5 kg for their loved ones. Additionally, there is a flat 40% discount on domestic shipments across India for packages weighing 0.5 kg to 2.5 kg, and up to 50% off on international shipments for packages weighing 0.5 kg to 2.5 kg, 5 kg, 10 kg, 15 kg, and 20 kg in key markets. This offer is valid until 19th August 2024, with conditions applied.

This offer provides a comprehensive and economical solution for all logistics needs, ensuring Rakhi gifts reach loved ones on time. Adding to the festive cheer, customers sending Rakhi shipments domestically during the offer period stand a chance to win exciting prizes.

As a customer-centric company, Blue Dart has been working on enhancing its products and services, providing added value to its customers during this festive season. With the 'Rakhi Express' offer, customers can spread the joy of the festive season by sending gifts to over 56,000+ locations within India, as well as to 220 countries and territories worldwide. The company employs technology and automation to ensure speed, safety, and reliability in seamless deliveries, enabling it to consistently deliver excellence at every touchpoint.

For service inquiries, customers can contact the Customer Care Number at 1860 233 1234 or email customerservice@bluedart.com. To find the nearest Blue Dart counter,  visit http://www.bluedart.com/ or use the 'My Blue Dart' mobile application, available on the Apple Store and Play Store.

CredAble Partners With Finastra To Provide A Holistic Supply Chain Finance Offering To Banks Globally

* CredAble’s Working Capital Finance Platform, integrated with Finastra Trade Innovation, enables banks to grow their trade and supply chain finance business and deliver enhanced customer experiences

CredAble, a working capital technology platform announced its partnership with Finastra, a global provider of financial software applications and marketplaces, to expand the functionality of Finastra Trade Innovation. CredAble’s feature-rich platform is now integrated with the solution, providing new and existing customers with a comprehensive supply chain finance offering. As a result, banks can increase their revenue growth, accelerate business expansion and customer satisfaction by offering corporates a wider range of financial services within a single platform.

“In today’s tough economic climate, it is more important than ever that corporates optimize their working capital and maintain real-time liquidity for long-term growth,” said Satyam Agrawal, Global Head of Product & MD ASEAN & ME at CredAble. “By combining our AI-powered supply chain finance platform with Finastra’s leading trade finance solution and global reach, we are delivering a holistic, front-to-back trade and supply chain finance offering to more banks worldwide. This enables them to broaden and enhance their operations to facilitate business growth, while ensuring the services they offer continue to meet the demands of corporates today.”

Trade Innovation is a trade services platform that uses straight-through processing, digitalization and data analytics to enable intelligent trade for growth, and to evolve with compliance, customer and competitive demands. CredAble is a working capital platform that enables banks to provide extensive supply chain financing solutions, serve diverse enterprise and small and medium-sized (SME) businesses, and unlock lucrative revenue opportunities. The partnership combines best-of-breed functionality to provide an enhanced, end-to-end offering for trade and supply chain finance.

“To facilitate truly innovative, relevant and open trade finance services, our partner ecosystem plays an important role,” said Anastasia McAlpine, Head of Product for Trade and Supply Chain Finance at Finastra. “By augmenting the functionality of Trade Innovation with CredAble’s feature-rich supply chain finance offering, we are giving our current and future customers access to a wider array of services that allow them to meet the growing needs of their customers. The partnership ensures institutions can continue to innovate at speed, decrease time to value and utilize data for decision-making across the whole of their working capital and supply chain finance portfolio, ultimately supporting increased growth for both their business and that of their customers. It’s another example of how Finastra is harnessing the power of open finance and APIs to build powerful ecosystems that deliver additional value”

Budget Reactions From Industry Leaders Of Oil, Energy And Education Sectors

 

BUDGET REACTION from Oil and Energy Sector:  

 Mr Baroruchi Mishra, Group CEO, NET Enterprise says overall a balanced budget aimed at job creation which in turn will lead to increased consumption and propel growth. It also has a good focus on energy transition.

1.Focus on Water Management including solid waste management for large cities is particularly heartening. Proper implementation of the solid waste management will key to success.

There is great scope for 3 way collaboration here - Centre,States and private sector. The agencies that need to implement this will need to get innovative with the technology choices - proven techs like chemical recycling of single use plastics, plasma gasification of solids wastes etc should be evaluated. This should not be mired into the bureaucratic red tape as this can lead to reduction in fossil fuel use if done correctly.

2. Aspiration to involve private sector in modular nuclear reactors for green energy is a positive step in energy transition.

3. Instead of promising free electricity @300 units for I Cr households under PM Surya Ghar Bijli Yojna, the government should have announced more enabling subsidises for solar panel installations and battery procurement. And let the population get addicted to using Solar as much as they can. The word “free” is toxic for the economy and kills enterprise. 

4. Emphasis on Climate Finance is good; Banks and lending Financial institutions should not stall the noble intent of the government.

I assume “ mitigation related investments” will cover carbon capture and storage (CCUS) as this is the only pathway to carbon reduction in the hard-to-abate sectors like cement and steel. Widespread use of DRI for making green steel will take at at least 10-15 years; we cannot wait that long as the EU’s Carbon Border Adjust Tax will hit steel exports by 2026. US and other countries may follow suit making our steel exports uncompetitive.

BUDGET REACTION FROM THE EDUCATION SECTOR

Usha iyer, Principal and managing director of The Green School Bangalore says that it is indeed commendable to see such a significant budget allocation today towards education, employment, and skilling in the Union Budget 2024 presented by Finance Minister Nirmala Sitharaman.

There has been an impressive Rs. 1.48 lakh crore earmarked specifically for education as compared to the previous year's allocation for the education sector in 2023 which stood at ?1,12,898.97 crore The budget places a pronounced emphasis on fostering education, employment, and skilling across the nation. For the last nine years we haven’t seen large impact on youth through the skill India movement, now we have to see how it brings a change with these policies Commencing her address, Minister Sitharaman introduced a Prime Ministerial Package worth Rs. 2 lakh crore, encompassing five transformative programs designed to invigorate employment and skilling sectors.

The emphasis placed on these crucial sectors is vital for the overall development and growth of the nation. Of this, employment, and skill development, surpassing the previous year’s allocation. However, it does raise the question as to why such a substantial allocation did not happen in previous budgets, considering that it is the same Prime Minister Narendra Modi who has been leading the country. One possible explanation could be that the government is now prioritizing these areas more than before, recognizing the importance of investing in education and skilling to boost employment opportunities and overall economic growth.

A notable highlight is the initiative offering internships at 500 top companies to 1 crore students over the next five years, each receiving a stipend of Rs. 5,000 and a one-time assistance payment of Rs. 6,000. Furthermore, the introduction of model skill loans up to Rs. 7 lakh aims to benefit 25,000 students annually, significantly boosting their career prospects and employability. In my opinion the introduction of initiatives such as the Prime Ministerial Package and internships at top companies for students, along with model skill loans, are steps in the right direction towards empowering the youth and preparing them for a competitive job market. It is crucial for the government to sustain and expand upon these efforts in the future budgets to ensure long-term benefits for the country workforce and economy.

Coca-Cola India Wins Award For Circular Economy Initiatives At Indian Circular Economy Forum 2024

~Recognition highlights Coca-Cola India’s successful launch of Recycled PET bottles in India

~Coca-Cola India pioneered Recycled PET (rPET) bottles in the Indian beverage industry, starting with Kinley's 1-litre and followed by rPET Coca-Cola in 250ml and 750ml variants.

Coca-Cola India has been honored with an award for its circular economy initiatives at the Indian Circular Economy Forum 2024, a testament to its innovative approach in sustainable packaging, held on 12th July. The award acknowledges Coca-Cola India’s eco-friendly packaging innovations, notably its launch of 100% recycled PET bottles—a first in India’s beverage sector. This initiative is a cornerstone of Coca-Cola India’s World Without Waste campaign, aiming to foster a circular economy for plastic packaging.

The forum, which took place at the Indian Habitat Centre, Delhi witnessed notable speakers such as Smt. Rupinder Brar, Additional Secretary, Ministry of Coal; Smt. Roopa Mishra, Joint Secretary, Ministry of Housing and Urban Affairs (MoHUA); Sh. Dinesh Jagdale, Joint Secretary at Ministry of New and Renewable Energy (MNRE); and Mr. Michael Bucki, Counsellor & Head of Section - Sustainable Modernization, Delegation of the European Union.  

Speaking about the achievement, Neeraj Porwal, Senior Director Technical & Supply Chain Sustainability – India & South West Asia, The Coca-Cola Company, said “We are honored to receive this award. Our commitment to driving a circular economy for our packaging is central to reducing waste and carbon emissions. We are focused on increasing the recycled content in our packaging, expanding the use of refillable bottles, and enhancing our recycling efforts through the World Without Waste initiative. This recognition strengthens our resolve to build a more sustainable future for the beverage industry.”

Coca-Cola India is the first company in India to launch 1 litre Kinley bottles made from 100% recycled PET (rPET), followed by rPET Coca-Cola bottles in 250 ml and 750 ml, further underscoring its focus on reducing carbon footprint and promoting environmental responsibility.

About Coca-Cola India:

Coca-Cola in India is one of the country’s leading beverage companies, offering a range of high-quality and refreshing beverage options to consumers. The company, in line with its vision of ‘Beverages For Life’, offers a wide portfolio of products which includes hydration, sports, sparkling, coffee, tea, nutrition, juice and dairy based products. In India its beverage range includes Coca-Cola, Coca-Cola Zero Sugar, Diet Coke, Thums Up, Charged by Thums Up, Fanta, Limca, Sprite, Maaza, Minute Maid range of juices and juice beverages. The Company also offers hydration beverages including Limca Sportz, Smartwater, Kinley, Dasani and Bonaqua packaged drinking water and Kinley Club Soda. Premium products constitute Schweppes range and Smartwater. In addition, it offers Costa Coffee and organic green tea based beverage- Honest Tea amongst its range of coffee and Tea. The Company is constantly transforming its portfolio, from reducing sugar in its drinks to bringing innovative new products to market.

The Company along with its owned bottling operations and franchise bottling partners has a strong network of close to 4 million retail outlets through which it refreshes millions of consumers across the country. It seeks to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable agriculture initiatives and carbon emission reductions across its value chain.

Globally together with its bottling partners, The Coca-Cola Company employs more than 700,000 people, helping to bring economic opportunity to local communities worldwide. Learn more at www.cocacolacompany.com and follow us on Twitter, Instagram, Facebook and LinkedIn.

Sunfeast Yippee Is Back! With Rahul Dravid, Jasprit Bumrah & Surya Kumar Yadav Unveil YiPPee!’s Latest Campaign 'YiPPee! Toss'

With cricket fervor in the air, the internet was abuzz with curiosity to know about the cryptic posts shared by Jasprit Bumrah & Surya Kumar Yadav on their Instagram handles about ‘The Toss’. Interest piqued as the players’ respective wives also posted about it soon after.

Multitude of accounts took to social media and shared their desire to know “What is the Toss all about?”. With widespread speculations by people, the conversation grabbed eyeballs garnering millions of views across social media making it viral.

While the internet kept wondering about what the cricketers were ‘tossing’ about, the brand Sunfeast YiPPee! took to Instagram and did the grand reveal of its latest campaign ‘YiPPee Toss’, thus, putting all speculations to rest.

Sunfeast YiPPee!, a leading instant Noodle & Pasta brand from ITC Ltd is back with a brand-new campaign featuring the country’s most-loved cricketers – Rahul Dravid, Jasprit Bumrah and Surya Kumar Yadav.  This fun-filled campaign leverages the popularity of top cricketers in a playful fashion highlighting the unique qualities of YiPPee! Noodles which are: Long & Non-Sticky.

The recently launched TVCs showcase Dravid, Bumrah and ‘SKY’ in lighthearted scenarios where they use the ‘YiPPee Toss’ to settle day to day friendly banters in a playful manner using YiPPee! Noodles. It’s an innovative play on the brand’s core USPs of Long & Non-Sticky Noodles. The campaign positions YiPPee! as ‘India’s Choice’.

Speaking about the campaign, Kavita Chaturvedi, Chief Operating Officer, Snacks, Noodles & Pasta, Food Business, ITC Ltd., said, “Cricket is an emotion in India and what better way to connect with our consumers than by bringing together the sport and the deliciousness of YiPPee! Noodles. This campaign celebrates the playful energy of our brand and the joy of relishing a bowl of YiPPee! with friends and family.”

Popular Cricketer Jasprit Bumrah remarked “It’s a very playful campaign and we had a lot of fun. If there is one way to settle a banter, it is through YiPPee!”

Much loved Batsman Surya Kumar Yadav said “I am thrilled to be part of this campaign as it perfectly mirrors our camaraderie both on and off the field. With YiPPee! settling our playful banter just got a whole lot easier”

Legendary Rahul Dravid said “I had a wonderful time while working with Bumrah and SKY on this campaign. We've created something enjoyable, and I hope everyone likes it.”

The YiPPee! Toss, campaign will be rolled out in multiple media platforms across the country. The brand is confident that the campaign will resonate with its vibrant target audience and inspire them to do the YiPPee! Toss to settle playful disputes amongst friends, just like our favorite cricket stars!

Grand Launch Of Exclusive Kancheepuram Silk Saree Exhibition By Varahi Lakshmi silks

* Exhibition starts from 26th July 2024 till 28th July 2024.

Varahi Lakshmi Silks Presents the one & only Pure Kanchipuram Sarees on different verities on Various New Collections, starting 26th July 2024 till 28th July 2024.

Varahi Lakshmi silks will launch their first exclusive exhibition at Bangalore with pure silk wedding sarees at Kanchipuram’  and offer genuine quality Kanchipuram sarees, Aranisarees, Dharmavaram sarees, Uppada sarees and handloom sarees.

Varahi Lakshmi silks owns more than 1000 handloom weaving machines, their exclusive collection is available at wholesale pricing, eliminating the middleman and passing on the price benefits to the consumers as they serve them directly.

The exhibition will be an abode for the rare and eternal pure Kancheepuram Sarees, Aarani Sarees, Banaraas Sarees, Dharmavaram Sarees, Uppada Sarees, Handloom Sarees, Real Jari Kota Sarees and Designer Sarees. Each saree purchased will receive the Silk mark and purity certificate to endorse that it is genuine. Sarees are available right from Rs.500 to Rs. 2 lakh.

Day & Date: Friday, 26th July 2024

Time: 10am till 8:00pm

Venue: Jagadish Hotels

(Basement of Italian Bake House)

New No: 51, Old No.664, 11th Main Road, 4th Block, Jayanagar,

Bengaluru – 5600011

ENTRY FREE ALL ARE WELCOME !!!

Union Budget 2024: India’s Financial Blueprint To Foster Comprehensive Focus On Growth

Indian democracy witnessed a watershed moment at the Union Budget 2024-25, as policymakers focused on nine key areas to deliver a comprehensive growth roadmap through strategic allocations. Employment & upskilling, Infrastructure, Innovation & Research and development, and taxation reforms among others dominated GOI’s financial blueprint for the rest of the fiscal year. This marked a critical point for India’s holistic growth across sectors, as numerous corporates celebrated the focused push in different directions.

The GOI maintained its support to businesses operating in the startup, infrastructure development and EdTech sectors. Finance Minister Nirmala Sitharaman called for abolishing the Angel Tax, a milestone for the private entities. Apart from streamlining taxation, announcements regarding new infrastructure projects and upskilling youth set the tone for the budget. 

A provision of INR 1.48 lakh crore was allocated for education, employment and upskilling, coupled with the announcement of loans up to INR 10 lakh for higher education. The centre also announced up to 5 schemes to strategically push the employment rate with an INR 2 lakh crore package, consisting of initiatives that facilitate employment and upskilling of over 4.1 crore youth in the next 5 years. Additionally, the Indian manufacturing industry received a much-needed boost through the incentivization of job creation in the industry. Also, the announcement of key road connectivity projects, along with bridges and airports offered a bright future outlook for the construction sector. Furthermore, the abolition of the Angel Tax and streamlining corporate taxation for foreign companies to increase FDI inflow and growing emphasis on digitization highlights India’s strategic blueprint for the rest of the FY.

Organisations operating in these sectors — Euro Panel Products Limited, GUVI, QuackQuack and Xyst Care hailed the forward-thinking growth roadmap in the budget, as these entities became direct beneficiaries of the government’s commitment to supplement national growth. 

Focus on upskilling in a comprehensive budget

* Mr. Arun Prakash, CEO and Founder of GUVI, lauded the centre’s focus on employment and upskilling, along with abolishing Angel Tax in the Union Budget, saying, “The financial blueprint laid out in the Union Budget puts a special emphasis on upskilling programmes targeting Indian youth. Furthermore, the package of five schemes designed to facilitate employment and upskilling with a strategic allocation of INR 2 lakh crore will have long-term favourable impact on the future of countless Indian students and professionals alike. While budgetary initiatives are focusing on upskilling 20 lakh youth directly in the next 5 years in trending and relevant, industry-appropriate courses, the long-term implications of this will be immense. Also, the abolition of Angel Tax will help the overall EdTech sector significantly through a unique opportunity to ensure scalability and growth, and attract investments simultaneously.”

Growth-oriented Infrastructure development push 

* Mr. Divyam Shah, Director of Euro Panel Products Limited, feels the government’s continued push on developing and revitalising infrastructure projects will assist the overall construction sector to ensure growth, “The centre’s renewed interest in maintaining its focus on infrastructure development in the Union Budget is a gratifying sight. The construction of several key road connectivity projects, including highways and others, along with a new airport in Bihar and across India aligns with Eurobond’s long-term objectives. Furthermore, the incentivization of job creation in the manufacturing sector will help the sector to generate more jobs for skilled professionals, helping to streamline and increase the efficiency of the manufacturing process, leading to future growth.”

Streamlining taxation significant boost for startups

* Mr. Ravi Mittal, Founder & CEO of QuackQuack, feels abolishing Angel Tax will have favourable long-term implications for the Indian startup ecosystem, “This 2024-25 Union Budget is highly influential to ensure long-term success in the startup ecosystem. By doing away with the Angel Tax, startups have been enabled to encourage a renewed business approach and enhance valuation. This will enable startups to undertake expansion initiatives without concerns about taxation, while also attracting increased funding from angel investors. Furthermore, the centre’s emphasis on upskilling will provide a viable pipeline of trained professionals for startups, ensuring long-term growth and scalability. “

* Ms Gunjan Agarwal, Co-founder of XYST Care, states , “Abolishing Angel Tax will have a long-term impact on startup founders. This will not only motivate angel investors, but help to encourage entrepreneurial spirit in the Indian business domain. Additionally, the job generation push, coupled with the government’s financial assistance will help startups to acquire more talented professionals, leading to cumulative growth in the long-term. This Union Budget is full of opportunities for Indian startups pushing to become the next Unicorn, and governmental assistance is bolstering it to ensure success and growth.

The latest budget stresses ‘Viksit Bharat’ yet again, promoting a strategic push in key sectors to usher in economic growth and viability to supplement India’s bid to become a developed nation by 2047. Optimization of resources to address key concerns in upskilling, employment, agriculture and technology holds the potential to lead to a promising future and assist the nation to become a $5 trillion by 2027, as projected by the Ministry of Finance. The comprehensive union budget also seeks to provide uniformity in growth across sectors, helping to facilitate a new chapter in India’s progressive trajectory.

* Mr. Madhavan Menon, Executive Chairman, Thomas Cook (India) Limited (Thomas Cook, SOTC, Sterling Holidays and TCI) says that this year’s Union Budget has opened new doors to development, specifically for domestic and inbound tourism. With the focus on special development funds/ programs for the socio-cultural-religious potential of iconic temple corridors including Gaya’s Vishnupad & Mahabodhi temples into world-class pilgrim and tourist destinations (to be modelled on the success of the Kashi Vishwanath temple corridor), the Government of India’s intent is encouraging. Additionally, the comprehensive development of the Rajgir Jain Temple site; rejuvenation of the historical gem of Nalanda & Nalanda University into a major religious-tourist centre, would have a multi-pronged impact. While positioning India as a vibrant global tourism destination, it will also accelerate job creation and economic opportunities for allied sectors.

The Budget also appreciated the underleveraged potential of Odisha's tourism industry by supporting the state’s rich heritage-history, spirituality, craftsmanship and natural beauty.

Recognizing the high potential domestic cruise segment, the Union Budget announcement proposed a simpler tax regime to support/incentivize foreign cruise companies operating in India’s waters.

We’re optimistic about the significant allocation of INR 11.11 lakh crore (constituting 3.4% of India's GDP) towards infrastructure development. The development of road, rail, air, and waterways will ensure a boost to access/connectivity and affordability, and force multiplier benefits for tourism and allied sectors.

When introduced, TCS was considered disadvantageous to salaried employees as their cash flows were negatively impacted. Post the Budget announcement, salaried employees can now avail of immediate credit of TCS paid on account of their foreign travel - against TDS on salary, enhancing the purchasing power of Indian consumers.

The discontinued SEIS scheme should have been reinstated, as this is meaningful towards encouraging inbound tourism, foreign exchange receipts and a force multiplier for employment generation.

We are disappointed to note that key pillars in India’s Tourism agenda - Aviation & Hospitality were not mentioned as part of the Budget and both standardisation of GST rates on hotel tariffs to 12% and the reduction of ATF remained unaddressed.

* Sanjeev Dasgupta, CEO, CapitaLand Investment India says that the government’s commitment to establish 'plug and play' industrial parks and 'Cities as Growth Hubs' will unlock significant investment opportunities and drive demand for modern commercial spaces in the country. With added benefits, this move will also incentivize global firms to strengthen their manufacturing hubs in India.

Additionally, the proposed ‘Transit Oriented Development’ will be a promising step towards decongesting cities, and creating a vibrant landscape for investment. Faster implementation, with a focus on regions such as Bangalore, Mumbai and NCR will be imperative to sustain and accelerate the pace of industrial development and new workforce integration."

* Vidita Kochar, Co founder at Jewelbox; The recent reduction of customs duty on gold to 6% marks a significant advancement for the jewellery industry, enhancing its competitiveness and making it more accessible to consumers. This move aligns seamlessly with our commitment to providing high-quality, affordable lab diamond jewellery to our customers.

Additionally, the abolition of the angel tax is a laudable initiative that will invigorate India’s startup ecosystem. This change is poised to spur innovation, attract global investors, and provide a substantial boost to startups.

We are confident that these measures will significantly contribute to the growth and dynamism of both the jewellery sector and the broader startup community in India.

* On start-ups, MSMEs, and the manufacturing sector from Mr. Rahul Garg, CEO & Founder of Moglix says, "The removal of angel tax is a welcome move for India's startup ecosystem. This, coupled with the establishment of a Rs 1,000 crore VC fund for the space economy, will foster innovation. The budget’s focus on manufacturing, with the introduction of plug-and-play industrial parks, is progressive. MSMEs will benefit significantly from the credit guarantee scheme, new assessment models by PSU banks, and increased Mudra loan limits. The substantial allocation of Rs 11 lakh crore for infrastructure especially nature resilient is crucial for building a Viksit Bharat. The strategic shift towards nuclear energy as a major power source is visionary. Finally, the emphasis on cultural heritage through the development of the Vishnupad, Mahabodhi temple corridors, Rajgir, and Nalanda is a welcome addition. 

* Deepak Chand Thakur, Co-founder and CEO of NPST Ltd says, "We welcome the Union Budget. Although it does not contain direct policy mandates for the Fintech segment, there are several positives that we would like to highlight:"

Income Tax Relief and Increased Discretionary Income: The relief in income tax is expected to boost consumer spending, which in turn will drive more digital transactions.

5G Market Growth and Smartphone Penetration: In a rapidly growing 5G market, improved smartphone penetration is essential for broadening payments. The Budget's focus on reducing the cost of imported components and finished products, potentially leading to lower retail prices for mobile phones and accessories, will benefit the fintech sector by expanding the base of smartphone users and enhancing access to digital payment platforms.

Reduction in E-commerce TDS: The reduction in e-commerce TDS from 1% to 0.1% will encourage more merchants to embrace digital payments. This policy change will lower the compliance burden on merchants, making it easier for them to participate in the digital economy, thus driving further adoption of digital payment systems.

E-commerce Hubs and Public-Private Partnerships: The establishment of dedicated e-commerce hubs through public-private partnerships presents an exciting opportunity for innovation in cross-border B2B trade payments, potentially using UPI rails.

Expansion of IPPB Branches in the Northeast: The opening of 100 IPPB branches in the Northeast also opens opportunities for other payment companies and fintechs to expand their services to new regions, tapping into a market with significant growth potential.

Air India Express Inaugurates Its Maiden International Flight From Bengaluru To Abu Dhabi

* Bengaluru is the airline's largest base with over 200 weekly flights connecting the city to 27 destinations.

Bengaluru: Air India Express continues its network expansion, connecting Bengaluru to Abu Dhabi with its first direct international service from India's IT capital. With over 200 weekly flights, Bengaluru is the largest station for Air India Express.  

Air India Express connects Bengaluru to 27 destinations, including Abu Dhabi, Ayodhya, Bagdogra, Bhubaneswar, Chennai, Delhi, Goa, Guwahati, Gwalior, Hyderabad, Indore, Jaipur, Kannur, Kochi, Kolkata, Kozhikode, Lucknow, Mangaluru, Mumbai, Pune, Ranchi, Surat, Thiruvananthapuram, Varanasi, Vijayawada, and Visakhapatnam with direct flights. With the launch of the Bengaluru-Abu Dhabi flight, guests from cities such as Ayodhya, Bagdogra, Bhubaneswar, Chennai, Goa, Guwahati, Gwalior, Hyderabad, Indore, Jaipur, Kolkata, Lucknow, Pune, Ranchi, Varanasi, and Visakhapatnam now have the option to connect conveniently to Abu Dhabi through one-stop itineraries via Bengaluru.

Air India Express operates direct flights connecting Abu Dhabi to Bengaluru, Kannur, Kochi, Kozhikode, Mangaluru, Mumbai, Thiruvananthapuram, and Tiruchirappalli and connects 17 Indian cities to Abu Dhabi via convenient one-stop itineraries.

National Scientists Highlight The Critical Need For Transparency And Accuracy In Artificial Intelligence (AI) At The 1st NSRTC 2024

MIT World Peace University (MIT-WPU) announces the successful conclusion of the 1st National Scientists Round Table Conference (NSRTC 2024). The conference, themed “Science and Technology for Viksit Bharat 2047,” brought together esteemed dignitaries, scholars, and visionaries to discuss pivotal themes shaping India’s scientific future.

The three-day conference brought together top academicians, scientists, researchers, and scholars. The focus was on exchanging insights and research across Physical Sciences, Life Sciences, and Engineering & Technology. NSRTC 2024 highlighted key topics such as Artificial Intelligence, Quantum Technology, Science & Spirituality, Sustainability, Healthcare and World Peace. The event aimed to spark innovative ideas, especially among young researchers, and promote interdisciplinary and global collaborations for new discoveries and sustainable development.

Dr. Sujata Chaklanobis, Former Advisor/Scientist G, DSIR, New Delhi, was the Chief Guest at the Valedictory function of NSRTC-24. Distinguished attendees included Hon’ble Padma Vibhushan Dr. R. A. Mashelkar, Mr. Ganpati Yadav, Former Vice-Chancellor of the Institute of Chemical Technology; Padma Bhushan Dr. Vijay Bhatkar, Founder Director of C-DAC, Pune; UNESCO Chair Holder Prof. Dr. Vishwanath D. Karad, Founder President of MIT-WPU; Shri. Rahul V. Karad, Executive President of  MIT-WPU, Dr. Sunil S Bhagwat, Director, Indian Insititute of Science Education and Research, Pune and NSRTC National Convener Prof. Dr. Milind Pande and Prof. Dr. Bharat B. Kale.

Dr. Sasikumar M. Executive Director, C-DAC, Mumbai said "The successful conclusion of the 1st National Scientists Round Table Conference (NSRTC 2024) represents a significant milestone for science and technology in India. Our discussions on Artificial Intelligence revealed both its vast potential and the challenges it presents. While AI holds great promise, it must be approached with caution, ensuring accuracy and transparency to avoid biases. This conference has fostered valuable interdisciplinary collaboration and set a new benchmark for advancing our vision of a sustainable, equitable future. I am immensely proud of what we have achieved and excited about the path ahead."

Dr. Sujata Chaklanobis, Former Advisor/Scientist G, DSIR, New Delhi, and Chief Guest at the Valedictory function of NSRTC-24, emphasized the vision of Vikasit Bharat @2047. She highlighted that this dream can be achieved through science and technology interventions, urging scientists and young scholars to engage in cutting-edge research to address the nation's challenges. She congratulated MIT-WPU for organizing the NSRTC 2024, where the nation's brightest minds deliberated on crucial topics.

UNESCO Chair Holder Revered Prof. Dr. Vishwanath D. Karad, Founder President of MIT-WPU said, “Over the past three days, we have witnessed remarkable exchanges of ideas and groundbreaking discussions on the future of science and technology. The convergence of eminent scientists, researchers, and visionaries at MIT-WPU underscores our collective commitment to fostering innovation and interdisciplinary collaboration. As we strive to build a sustainable and equitable future, NSRTC 2024 has truly exemplified the spirit of scientific exploration and the pursuit of excellence, setting a precedent for future endeavours in advancing frontier technologies for the betterment of society.”

Shri. Rahul V. Karad - Executive President, MIT-WPU “At MIT-WPU, we believe in the transformative power of education and research, and this conference exemplifies our dedication to addressing critical issues such as healthcare, climate change, and digital transformation. We are honored to have hosted such a distinguished panel of experts and are excited about the breakthroughs and new ideas that have emerged from this event. The successful conclusion of the 1st NSRTC at MIT-WPU is a testament to our unwavering commitment to fostering scientific excellence and innovation. This event has inspired collaboration and dialogue among leading scientists and researchers, propelling us towards our vision for Viksit Bharat 2047. "

The conference was organized around eight key themes: Artificial Intelligence, addressing ethical frameworks, regulations, AI for social good and healthcare, and future job impacts; Biotechnology, focusing on synthetic biology, bioinformatics, biomedical devices, biopharmaceuticals, and bio-manufacturing; Digital Transformations, covering grid technology, quantum computing, blockchain, cybersecurity, and digital inclusion; Advanced Materials and Processing, including nanomaterials, organic electronics, biomimetic designs, sustainable materials, and 3D printing; Healthcare, exploring tissue engineering, regenerative medicine, wearable devices, and affordable high-tech healthcare; Science, Scientific Temper & Spirituality, examining the role of scientific temper, brain-mind-consciousness relationship, and spiritual practices; Agri-Tech, focusing on precision agriculture, genetic engineering, climate-smart agriculture, urban farming, and agritech startups; and Climate Change, addressing climate modeling, the circular economy, sustainable mobility, green buildings, and managing transitions.

NSRTC 2024 witnessed the presence of prominent 130 scientists from across the country and notable figures, including Dr. Ashok Joshi, Padmashri Dr. Thallapai Pradip, Prof. Dr. M.S. Ramachandra Rao, Dr. Richard Lobo, Prof. Dr. Ajit Kulkarni, Dr. Umesh Waghmore, Dr. Dipankar Das Sharma, Dr. Dinesh Aswal, Dr. Tata A. Rao, Dr. Bhushan Patwardhan, Prof. Anil Sahasrabuddhe, Dr. Niraj Khare, Dr. K. Sami Reddy, Dr. Atul Verma, Dr. Ashok Khandkar from the USA, Dr. Sumitra, ISRO scientist Dr. Ilangovan, Prof. Krupanidhi of IAS Bangalore, Prof. Anik Kumar, ICER Director Ashok Ganguly, Dr. Rajat Mona, Prof. Das Gupta, Dr. Nag Hanumaiah, Sameer Director Hanmantrao, Sydney University Prof. Dr. Kautubh Dalal and Purdue University Prof. Sachin Pol.

Nuvoco Vistas Introduces India’s First Ever “Hydrophobic Concrete - Concreto Uno” With Innovative Damp Lock Formula

Nuvoco Vistas Corp. Ltd., India's fifth-largest cement group, launched Concreto Uno - Hydrophobic Concrete, a breakthrough in the building materials industry. With its advanced hydrophobic properties combined with the innovative Damp-lock Formula, this unique concrete redefines construction standards.

Concreto Uno – Hydrophobic Concrete features a unique blend of admixtures and a specialized mix design that prevents the formation of capillaries within the concrete, resulting in significantly lower permeability compared to standard-grade concrete. This waterproof concrete enhances the overall strength and durability of structures, significantly extending their lifespan.

In addition, Concreto Uno's Damplock formula reduces costs in construction projects by minimizing the need for costly waterproofing membranes and coatings. Furthermore, it prevents dampness, which preserves the aesthetic quality of buildings. This product is ideal for structural consultants, architects, contractors, engineers, and project management companies (PMCs). It is widely available across India through Nuvoco’s RMX plants.

Prashant Jha, Chief Ready-Mix Concrete and Modern Building Materials Officer, Nuvoco Vistas Corp Ltd., said, “Concreto Uno Hydrophobic Concrete is a game-changing hydrophobic concrete in the building materials industry. This means lower maintenance costs and greater peace of mind for our customers since their investments are better protected against water damage, enhancing the longevity and aesthetic appeal of structures. Also, this is a step toward sustainable building practices, making structures capable of withstanding harsh weather conditions.

Chirag Shah, Head of Marketing, Innovation and Sales Excellence, Nuvoco Vistas Corp. Ltd., stated: Concreto Uno Hydrophobic Concrete is a testament to our drive for innovation and excellence in building materials. By integrating cutting-edge hydrophobic technology with Damp-lock Formula, we are not only addressing the challenges of water permeability but also elevating construction standards. We are excited to bring this revolutionary concrete to the market, reaffirming our leadership in the industry.”

NPST Q1 FY 25 Results: Net Profit Surges By 202%, Marking Best-Ever Quarterly Performance

NPST, a leading provider of digital banking and payment technology solutions provider, listed on the NSE SME exchange, has reported its strongest-ever quarterly performance in Q1 FY 2025, with a 202.96% growth in net profit and a 142.2% increase in net revenue.

Performance Snapshot

·     The company achieved a record quarterly revenue of Rs 60 crore, marking a 34.5% sequential growth and a 142.2% increase compared to the same quarter last year.

·     NPST achieved 46% of FY24's total income in Q1 FY25, setting a solid foundation for the rest of the fiscal year.

·     Profit Before Tax (PBT) jumped to Rs 21 crore, up from Rs 6.2 crore in the previous year, an impressive 238.7% increase.

·     The company’s net profit recorded a 202.96% growth, reaching Rs 15.62 crore from Rs 5.15 crore.

·     The company's Q1 FY25 net profit reached 58% of the total net profit for FY24, setting a new benchmark and indicating a promising future outlook.

·     This is the highest quarterly performance since its listing on NSE in August 2021.

NPST attributes its substantial topline growth to the growing demand for efficient digital payment operating models, such as Payments Platform as a Service (PPaaS) among Payment Aggregators, Payment Gateways, and Merchants. The operationalization of key customer accounts, infrastructure upgrades to manage increased transaction volumes, and improved delivery execution within the Technology Service Provider (TSP) business that caters to banks were also instrumental in this growth.

Commenting on the results Ashish Aggarwal, Co-Founder and Joint Managing Director NPST, stated; "We are proud to announce a record-setting performance for Q1 FY 2025, demonstrating robust increases in both revenue and profit, even as we scale our strategic growth investments. Our business strategy over the last three years is producing results, and we remain dedicated to maintaining this momentum by continually focusing on building a reliable, efficient, and resilient organization."

Commenting on the results, Deepak Chand Thakur, Co-Founder and CEO  NPST, stated;  "We are off to an exceptional start in FY 2025, marking our tenth consecutive quarter of growth since the company’s listing. The positive momentum, particularly within our Payment Platform-as-a-Service (PPaaS) segment, is very encouraging. The new customer acquisitions and ramp-up in deals we've discussed in previous quarters are now positively impacting our revenues. We see substantial growth opportunities across our PPaaS and Technology Service Provider business segments. Moving forward, we remain committed to enhancing our unique business model, strengthening strategic customer engagement, and preparing for future readiness."

NPST plans to raise fresh capital through a Qualified Institutional Placement (QIP). The funds will support investments in new-age technology, market diversification, and scaling organizational capabilities, aligned with the company's vision to be among the top players in the Indian digital payments industry.

To scale growth NPST is creating a balanced mix of commercial and tech leadership, aimed at enhancing both strategic agility and operational excellence. During the quarter, NPST significantly strengthened its talent pool by adding senior-level sales professionals and other resources.  

About NPST

Incorporated in 2013, NPST is a leading fintech firm in India, part of the Make in India initiative and listed on the NSE Small and Medium Exchange. We specialize in UPI payments and digital banking and operate as both a Technology Service Provider (TSP) and a Payment Platform as a Service Provider (PPaaS). Our solutions include online and offline transaction processing, banking super apps, fraud prevention, dispute management, and compliance technology.

NPST’s mission is to deliver financial technology solutions across the financial value chain — serving banks, fintechs, and other industry players — and to drive the growth of the digital payments ecosystem. NPST supports over 100+ customers, and processes 60+ million transactions daily, advancing businesses, individuals, communities, and economies through its innovative solutions.  For FY24, the Company has reported Total Revenues of Rs  130.08 Cr with 216% YoY growth with EBITDA of  Rs 43.70 Cr with 253% YoY growth & Net Profit of Rs  26.71 Cr with 310% YoY growth. 

For details, please visit www.npstx.com

IDBI Bank Limited Reports 40% Rise In Profits On YoY Basis

* Net Profit surges to Rs 1,719 crore, registering a growth of 40% YoY and 6% QoQ

* Gross NPA down to 3.87%, YoY reduction by 118 bps

* Net NPA down to 0.23%, YoY reduction by 21 bps

* Provision Coverage Ratio (PCR) at 99.34%

* CRAR at 22.42%

*CASA ratio at 48.57%

IDBI Bank today, announced its quarterly results for Q1 FY25. The Net Profit stood at Rs 1,719 crore for Q1 FY25, registering a strong growth of 40% YoY. The operating profit stood at Rs 2,076 crore. NIM was recorded at 4.18% and Net Interest Income stood at Rs 3,233 crore in Q1-2025 as against Rs 3,998 crore in Q1-2024. Cost of Deposit stood at 4.58% in Q1-2025 as compared to 4.12% in Q1-2024. CRAR stood at 22.42% with YoY growth of 209 bps. Return on Assets (ROA) at 1.83%, YoY growth of 34 bps and Return on Equity (ROE) at 19.87%, YoY growth of 123 bps. Net NPA at 0.23% as against 0.44% as on June 30, 2023 and Gross NPA at 3.87% as against 5.05% as on June 30, 2023.

Viiva Expands Its Smart Electromagnetic Invigorator Footprint In India, Launches Groundbreaking Terahertz Technology

* Opens its first Experience Center in Bengaluru.

Viiva India is proud to announce the launch of a new Viiva Experience Centre (EC)  in Bengaluru and the unveiling of India's first Terahertz technology, Viiva Discovery Station (VDS). As part of its expansion strategy to enhance its direct-to-consumer presence nationwide. The newly launched EC, situated in HSR Layout 8, Ground floor, service road, sector 6, HSR Layout, Bengaluru – 560 102 landmark: near the HSR BDA office.

The Viiva Experience Centers are specially designed to offer customers a comprehensive range of services under one roof. This landmark launch event marks the introduction of innovative Terahertz frequency technology, which promises miraculous health benefits and is set to revolutionize the health and wellness sector in India and globally.

Viiva's magical products, such as the V-Power and Smart Electromagnetic Invigorator, are designed to enhance health and wellness. These groundbreaking products will be available for an exclusive experience at the newly inaugurated Viiva Discovery Station.

Mr. Bryann Pillay - Co-founder (of Viiva India),  Mr. Willam Lung – Vice chairman, of Viiva India,  Ms. Cindie –president of Indian operations, and Mr. Steve Martin- Head of sales and marketing were well attended the event.

Addressing the media Mr. Darshan Chudgar – Founder of Viiva India, said “This momentous occasion and witness firsthand the revolutionary technology that Viiva is bringing to India. Experience the transformative power of Terahertz frequency and discover how Viiva's innovative products can change health and wellness in India”.

About Viiva:

Viiva® stands as a beacon of innovation, merging cutting-edge technology, extensive clinical expertise, and robust business acumen to deliver dynamic health solutions and foster entrepreneurial endeavors on a global scale. Viiva's commitment to excellence and innovation is reflected in its groundbreaking products and initiatives, setting new standards in

Future medicine will be medicine of frequencies   – Albert Einstein. 

VIT Bangalore Launches ‘Data Science And AI Programme’ Empowering The Next Generation Of AI-Powered Data Scientists

* The programme integrates open source libraries such as Pandas, Matplotlib as well as Gen AI modules equipping early and mid-professionals with comprehensive understanding of AI and data science

The growing demand for AI-driven decision-making across industries underscores the rising demand for skilled professionals who can transform raw data into actionable insights. However, there's a substantial 51% disparity in between the demand and supply of AI/ machine learning (ML) BDA tech talent in India as highlighted by NASSCOM’s State of Data Science & AI Skills in India report. Acknowledging the need to bridge this gap, Vellore Institute of Technology (VIT), Bangalore has announced the launch of its Data Science and AI programme.

The 16-week online Data Science and AI Programme is specifically curated for early professionals seeking a solid understanding of Python, data science, and foundational knowledge of machine learning and generative AI applications. It also caters to mid-managers looking to apply these concepts to data science, machine learning, and generative AI projects, equipping them with the skills needed to excel in a rapidly evolving digital landscape.

VIT has introduced this programme to equip learners with the essential skills required to become an AI-powered data scientist. Through the integration of open sources libraries like Pandas and Matplotlib in the curriculum, participants will master Python, industry-standard language and will gain expertise in leveraging AI techniques. The machine learning algorithms will enable them to tackle real-world challenges and unlock the hidden potential of data. By bridging the gap between data analysis and intelligent decision-making, VIT empowers professionals to excel in the rapidly evolving digital landscape.

According to the report by Analytics and Data Science Jobs in India report, 2023, jobs for data science professionals with two to five years of experience grew by 34%. Another report by Grand View Research, 2023 highlights that the global AI market is expected to reach a staggering by 2030, fuelling a surge in data science jobs. These data rightly emphasise the need for advanced courses like VIT Bangalore's Data Science and AI Programme. It offers a unique blend of theoretical knowledge and practical application, focusing on industry-relevant skills, tools and real-world challenges. By integrating real-time industry relevant tools, the programme ensures that learners are well-equipped to meet the evolving needs of the data science and AI landscape, empowering them to become leaders in this dynamic field.

The VIT Bangalore’s Data Science and AI Programme includes in-depth exploration of ML algorithms, including supervised and unsupervised learning, as well as time series analysis. Delivered by VIT Bangalore’s renowned faculty expert in Data Science, ML & AI, the programme offers recorded as well as live sessions and an industry-tailored curriculum. It also features hands-on Jupyter notebook exercises, real-world case studies for Python-based data science exploration, as well as live interactive masterclasses for Generative AI and other modules to help learners understand concepts effectively. Moreover, the programme comes at a cost-effective price point, making quality education more accessible to a wider audience. The programme includes modules such as popular data science packages in python, data visualisation with Matplotlib, and intro to machine learning and python libraries, alongside GenAI modules such as foundations, Python implementation, data science applications and synthetic data creation among others.

Through this programme, participants will be able to:

·         Get an overall understanding of the Python language and its applications in data science and ML

·         Learn how to manipulate and visualise data to generate insights

·         Dive into Machine Learning techniques and discuss applications of ML tools and frameworks

·         Get a functional knowhow of how to apply tools and frameworks to real-life examples across industries

·         Dive into live sessions on Generative AI, covering foundational concepts, hands-on implementation, and practical applications. Learn about GANs, VAEs, and synthetic data creation to enhance your data science skills and career prospects

·         Gain hands-on experience with live sessions on Python functions, data science packages, data analysis, visualisation, data cleaning, and EDA with linear algebra

The ‘Data Science and AI Programme’ will commence on 30 September 2024, with a fee of INR 50,000 plus applicable taxes. Upon successful completion of the programme with a minimum grading of 70%, participants will be awarded a certificate of completion from VIT Bangalore. Visit the programme page for more details.

MediaMint Appoints Industry Veteran Rajeev Butani As Chief Executive Officer

* Co-Founder and Former CEO Aditya Vuchi Continues Support of the Company as a Member of MediaMint’s Board of Directors

MediaMint, a global AI-powered revenue and media operations services provider backed by Everstone Capital and Recognize, today announced the appointment of Rajeev Butani as Chief Executive Officer. Mr. Butani replaces current CEO and co-founder Aditya Vuchi, who will continue to support MediaMint as a member of the company’s Board of Directors.

“As we continue to accelerate innovation and revenue realization for businesses worldwide, we are excited to have Rajeev serve as CEO to guide us through the next phase of MediaMint’s expansion,” said Mr. Vuchi, who served as MediaMint’s CEO for the previous 14 years. “Rajeev has served as Executive Chairman of the company and understands our business and culture and we look forward to his collaboration with MediaMint leadership, employees, and customers to build on our past successes.”

Prior to joining MediaMint in 2023 as Executive Chairman, Mr. Butani served with Accenture for more than 25 years, most recently as the Senior Managing Director and Group Technology Officer for Accenture’s Communications, Media, and Technology Operating Group globally. He also served on Accenture’s Global Leadership Counsel.

“Rajeev is the right person to help drive adoption of MediaMint’s next generation services and going forward to help us identify acquisitions that will complement MediaMint’s vision of an AI-powered platform of services,” said Avnish Mehra, Vice Chairman, Private Equity at Everstone Capital, and David Wasserman, Co-Founder and Managing Partner at Recognize. “We are delighted to have Aditya’s full support in this transition and look forward to Rajeev’s stewardship as we expand MediaMint’s global business.”

With 2,000 employees across offices in San Francisco, New York, Hyderabad, and Krakow, MediaMint delivers operational support for digital marketing, including ad operations, creative services, and customer services. The company serves over 100 global customers, including prominent digital marketing platforms, publishers, and agencies. The digital marketing landscape is growing, driven by the proliferation of digital channels and creator platforms, enhanced data capabilities, and the increasing popularity of user generated digital content. As more businesses venture into digital advertising, MediaMint is strategically positioned to optimize advertising performance and reduce operational costs associated with establishing digital ad platforms, managing ad operations, and refining ad creatives.

Sify Reports Revenues Of INR 9,421 Million. EBITDA Of INR 1,784 Million

HIGHLIGHTS

Revenue was INR 9,421 Million, an increase of 10% over the same quarter last year.

EBITDA was INR 1,784 Million, an increase of 3% over the same quarter last year.

Loss before tax was INR 46 Million. Loss after tax was INR 105 Million.

CAPEX during the quarter was INR 2,656 Million.

MANAGEMENT COMMENTARY

Mr. Raju Vegesna, Chairman, said, “India is currently in a remarkable phase of growth. The combination of pro-industry regulations, a supportive investment environment and a wealth of skilled talent positions our nation as a key destination for international businesses. This confidence is driving investments and building partnerships that benefit both enterprises and the broader economy.

The advancement in regulatory and taxation norms should help accelerate investment in the network and data center landscape and enhance India’s status as a pivotal interconnect hub between Asia and the Middle East. Our robust infrastructure and comprehensive services portfolio uniquely position Sify to seize these opportunities. As enterprises and government entities advance their digital transformation and automation initiatives, Sify stands ready to support them with our innovative digital tools and services”.

Mr. Kamal Nath, CEO, said, “As businesses embark on digital transformation, they are reconfiguring their IT frameworks to incorporate multiple transformative solutions. All of them with the common agenda of enhancing user satisfaction, ensuring operational resilience and protecting digital assets.

Our significant capital allocations and extensive range of offerings are designed to effectively meet these ambitions. Our capability to provide innovative outcomes through our triad of infrastructure and managed services uniquely positions us to support them throughout their digital transformation."

Mr. M P Vijay Kumar, ED & Group CFO, said, “The International Accounting Standard Board’s (“IASB”) recently issued Accounting Standard IFRS 18 (Presentation and Disclosure in Financial Statements) replacing IAS 1 (Presentation of Financial Statements). The new structure for the profit and loss statement requires (i) the classification of income and expenses into three new categories - operating, investing and financing, and (ii) the presentation of subtotals for operating profit or loss and profit or loss before financing and income taxes.

Although the IASB set an effective date as January 1, 2027, the Company will begin adhering to IFRS 18 beginning with its unaudited consolidated financial statements for the quarter ended June 30, 2024. All prior periods presented herein have been presented in accordance with the new structure. There is no change in total income or net profit.

We will continue to invest in expanding our network, both fiber in the metros and terrestrial long distance, data center capacity and also strengthen our Digital services team by adding people with the right skill sets and investing more in our Learning and Development initiatives. Fiscal discipline will continue to be remain central to our focus and strategy.

The cash balance at the end of the quarter was INR 6,471 Million.”

BUSINESS HIGHLIGHTS 

The Revenue split between the businesses for the quarter was Data Center colocation services 36%, Digital services 23% and Network services 41%.

During the quarter, Sify commissioned 6.5 MW capacity in Mumbai.

As of June 30,2024, Sify provides services through 1055 fiber nodes across the country, a 16% increase over same quarter last year.

The network connectivity service has now deployed 9415 SDWAN service points across the country.

CUSTOMER ENGAGEMENTS

Among the most prominent new contracts during the quarter were the following:

Network Services

The cloud platform of a global IT major contracted for interconnect at one of their major locations.

The largest stock exchange, the regulatory body for the securities market, and a national insurance major contracted Sify for a MPLS Network build.

The largest stock exchange also signed up for WAN across their backbone network. 

The largest Private bank contracted for managed and secure SDWAN service.

Data Center Services

A global OTT player contracted for major Edge Data Center location in a non-metro location

The country’s largest bank signed a multi-year deal for capacity at Sify’s Data Center.

A Private bank chose to locate their Near Disaster Recovery (NDR) in one of Sify Data Center.

Two Private banks contracted to expand their capacity at different Sify Data Centers.

An IT major signed up to migrate from their on-premise Data Center to Sify’s Data Center.

Digital services

Sify was contracted by the highest judicial body in the country for a multi-year Data Center infrastructure build and related managed services.

A large private bank contracted for Network Managed services for both their Data Center and Branch networks.

A digital enablement major opted to move their online banking application to Sify’s Cloud platform.

An IT player, a chemicals manufacturer, an NBFC and a training development organisation contracted to migrate from their on-premise Data Center to Sify’s Cloud platform.

These players also opted for managed services like DRaaS and SaaS.

A Scheduled bank and a housing finance major contracted for green field Cloud implementation.

A major steel producer and a retail MNC contracted for multi-year managed services.

A logistics player signed up for managed security services while a state power distribution company and a state co-operative bank contracted Sify to set up Security Operations Center (SOC) at their premises.

The education and training bodies of a State government and banking regulator signed up for online assessments, while a retail and power major signed up for Sify’s Cloud -based supply chain solution.