Boeing Launches Global Support Center - India To Strengthen Indian Aviation Ecosystem

* Center to provide customized operational efficiency and safety improvement solutions for airline operators and regulators

Boeing [NYSE: BA] has launched its first Global Support Center (GSC) in India to continue supporting the development of the aviation ecosystem in the country. Based in Gurgaon, the Global Support Center - India will deliver customized operational efficiency and safety improvement projects for Boeing’s airline customers, civil aviation regulatory bodies and other industry stakeholders.

“With India continuing to see an unprecedented surge in civil aviation traffic, Boeing is committed to innovating and bringing value to modernize the Indian aviation ecosystem,” said Salil Gupte, president, Boeing India. “Today, we are proud to launch the Global Support Center - India, which will provide a platform to enable knowledge transfer for enhancing safety and increasing operational efficiency for Boeing’s airline partners in the country,” he added.

As part of the initiative, the Global Support Center - India will conduct technical workshops and projects to support aircraft reliability, enhance airplane performance, and encourage the adoption of Airplane Health Management (AHM) systems. For operational improvements, Global Support Center - India will work with operators and regulators on structures and airworthiness; the Maintenance Error Decision Aid (MEDA), a human-factors tool; Air Traffic Management (ATM); aerospace optimization; and low visibility operation through Head-Up Display (HUD) and Enhanced Flight Vision System (EFVS). The Center will also conduct flight operations symposiums, engineering seminars, and continue the development of new technology studies impacting airports and operators alike.

About Boeing India

Boeing is focused on delivering value to Indian customers with advanced technologies and is committed to creating sustainable value in the Indian aerospace sector – developing local suppliers, and shaping academic and research collaborations with Indian institutions. Boeing has strengthened its supply chain with more than 300 local companies in India and a joint venture to manufacture fuselages for Apache helicopters and vertical fin structures for the 737 family of airplanes. Annual sourcing from India stands at approximately $1 billion. Boeing currently employs more than 5,000 people in India, and more than 13,000 people work with its supply chain partners. Boeing’s employee efforts and country-wide engagement serve communities and citizenship programs to inspire change and make an impact on more than 500,000 lives. Learn more at www.boeing.co.in

Essar Oil & Gas Exploration & Production (EOGEPL) Achieves Highest Ever Revenue And EBIDTA

~Posts record PAT in Q3FY23, grows 273% YoY~

Essar Oil and Gas Exploration and Production Ltd (EOGEPL), a pioneer and a leader in unconventional hydrocarbon space, today announced their results for the quarter ending December 31, 2022.

The company has reported its highest ever quarterly revenue of Rs 219 crore in Q3 FY23, with 54% YoY growth. In the quarter ending December 31, 2022, EOGEPL’s EBIDTA grew by ~100% on YoY basis to Rs 171 crore, and its PAT increased by 273% as compared to the same period last year to Rs 97 crore.

In the 9M FY23 period, the company posted record revenue of ?696 crore growing at over 113% on YoY basis. It’s EBIDTA of Rs 552 crore is a 228% increase as compared to the same period last year. The company also posted its highest ever PAT of Rs  284 crore as compared to a loss of -?11 crore recorded in last year’s Q3. Essar achieved an EBIDTA margin of 80%, witnessing an improvement of 27% due to reduction in operating cost and internal consumption in 9MFY23.

Commenting on the performance, Mr Prashant Ruia, Director - Essar Capital and EOGEPL, said, "Essar aims to participate in India’s vision of reducing carbon footprint and provide industries with alternate clean fuel at economical prices. We are committed to contribute to India’s vision of becoming a gas-based economy in the next decade by ramping up its gas production"

Mr Pankaj Kalra, Chief Executive Officer, EOGEPL said, “My team has done an excellent job in delivering strong operating performance with ramp up in gas production and reduction in internal consumption by ~12%. The company continues to focus on key priorities of field upgradation and further reduction in internal consumption which will be acting as a holistic rationalisation of the cost while also adding to the company's top line”

Business Highlights

EOGEPL delivered a strong operational performance by doubling its coal bed methane (CBM) production to over 0.8 million metric standard cubic meters per day (mmscmd) after the commissioning of Urja Ganga Pipeline with availability of 100% gas offtake further buoyed by continued tail winds in global gas prices.

EOGEPL is currently operating ~350 wells in the block and has taken up a systematic approach of well revival through adaptation of world class technology and stimulation techniques including re-fracs and close monitoring to enhance gas production from the existing wells.

EOGEPL maintains robust momentum to remain the leader in the unconventional space with a clear road map to double its CBM reserve base and increase production from the block to over 3 MMSCMD in the coming years.

The company has roped in globally renowned service providers and technical consultants to roll out a phased growth program to achieve these objectives. The program includes drilling of new directional and horizontal wells, and expeditious development of the Deeper CBM Area of Raniganj block.

The company is also working towards opening up new frontiers, one of them being Shale Gas exploration which will help the company consolidate its position as one of the largest Unconventional Hydrocarbon player in the region.

About EOGEPL

EOGEPL is pioneer and the largest unconventional hydrocarbon (UHC) player in India having a resource base of 4 TCF (Trillion Cubic Feet) in Coal Bed Methane (CBM) and 8 TCF of shale gas resources. EOGEPL has so far invested in excess of Rs. 5,000 Crore in the commercial development of the Raniganj CBM Block.

Switzerland Celebrates Yash Chopra’s Legacy, Salutes His Contribution To Present The Country’s Beauty To Indians!

Switzerland is paying tribute to the legendary filmmaker Yash Chopra, saluting his contribution of having showcased Switzerland’s beauty to Indians through the magic of his cinema. 

The much-awaited Netflix docu-series, The Romantics is a celebration of the legacy of Yash Chopra, YRF and the cultural impact it has had on Indians over the past 50 years. It is set to release this Tuesday, the  14th of February.

Remo Käser, Director of Sales Jungfrau Railways, Switzerland, reveals, “The legend, Yash Chopra, has presented the beauty of Switzerland and especially the Jungfrau Region to Indians across the world for generations, through his beautiful, soulful cinema. Indians, who come to Jungfraujoch – Top of Europe year on year, have always spoken to us about how the romantic films of Yash Chopra have pushed them to visit the Jungfrau Region and Interlaken and make memories for a lifetime.”

The Swiss authorities will celebrate Yash Chopra’s legacy across the country, especially in places where the filmmaker shot mega-hits like Darr and Chandni. His son Aditya Chopra also shot the all-time blockbuster, Dilwale Dulhania Le Jayenge in Switzerland.  

Every Indian has been enchanted by Switzerland’s snow-capped mountains, lush valleys and pristine lakes in large part because of Yash Chopra’s films. It is said that he visited Switzerland for his honeymoon and was smitten by the country instantly. The Swiss government has continuously honoured the legendary filmmaker through the years.

In 2011, Switzerland’s Jungfrau Railways inaugurated a train named after him — an honour shared only with the railway’s founder, Adolf Guyer. The train featured his signature and name on a signboard. In May 2016, a bronze statue of Yash Chopra was installed by the Switzerland government as a tribute, near the Congress Centre in Interlaken, a popular tourist spot. 

At the prestigious Victoria-Jungfrau Grand Hotel & Spa, a special deluxe cinema-themed suite was named after Yash Chopra. In 2011, the film-maker inaugurated the suite. Lake Lauenen, in the Canton of Berne, is referred to as Lake Chopra! The Swiss government honoured Yash Chopra with the title of Ambassador of Interlaken, making him the first recipient of the award. He was also bestowed the Swiss Ambassador’s Award.

Remo adds, “Switzerland and India have a great bond of mutual respect and admiration and Yash Chopra has played a monumental role in solidifying the relationship between our great nations. Switzerland is only too proud to celebrate his legacy here.”

From Aamir Khan to Salman Khan, Shah Rukh Khan to Ranbir Kapoor, Amitabh Bachchan to Ranveer Singh, Rani Mukerji to Hrithik Roshan, Katrina Kaif to Anushka Sharma, the mega-stars and icons of Hindi cinema have come together to speak about Yash Chopra and YRF’s contribution to Indian cinema in The Romantics.

The Romantics has been directed by Oscar & Emmy-nominated film-maker Smriti Mundhra, who returns to Netflix after the phenomenal success of Indian Matchmaking and the *Never Have I Ever Season 3*

Netflix, in this four-part docu-series, will feature 35 leading personalities from the film industry, who have closely worked with YRF through its 50 year glorious existence.

Interestingly, the reclusive head of the iconic Yash Raj Films, Aditya Chopra, has also recorded his first on-camera interview for The Romantics! Hearing him share insights about YRF and the Hindi film industry in this docu-series is bound to be a huge highlight for the film fraternity, cinephiles & Hindi cinema audience at large.

The trailer of The Romantics has been appreciated globally. Netflix will release The Romantics on Feb 14, 2023 as a tribute to Yash Chopra, who is regarded as the ‘Father of Romance’ in India because of his iconic romantic films like Silsila, Lamhe, Kabhi Kabhie, Veer-Zaara, Dil To Pagal Hai, Chandni, Jab Tak Hai Jaan, etc.

NEC Corporation India Signs MoU With AVIT To Enable Learning For Students, Researchers And Faculties In The Field Of AI/ML

- The MoU will facilitate hands-on training and set up research facilities in areas of Artificial Intelligence & Machine Learning (Al/ML)

- Strengthening the technological infrastructure of AVIT with NEC Vector Engine (VE) system-driven lab

NEC Corporation India (NEC India), a wholly owned subsidiary of NEC Corporation, has signed a Memorandum of Understanding (MoU) with AVIT (Aarupadai Veedu Institute of Technology) for a comprehensive education program for tech aspirants.  The MoU will help students and researchers achieve their full potential across diverse workloads by establishing a dedicated AI/ML and HPC lab on the campus. The MoU was signed by Mr Deepak Jha, GM, NEC Corporation India and Mr. G. Selvakumar, Principal, AVIT. 

Mr. Deepak Jha, General Manager & Head, Artificial Intelligence Platform, NEC India, said, “The joint education programme will create industry-ready professionals. The students will learn profound technological concepts, cutting-edge software and hardware solutions, as well as domain expertise. The Union Budget 2023, with its focus on making AI in India for India, industry-academia partnerships and youth upskilling, has reinforced our commitment to knowledge and skill sharing with future tech aspirants. With this MOU, we look forward to making the youth self-reliant on emerging technologies.” 

Mr. G. Selvakumar, Principal, AVIT, said, “Curating blended educational frameworks is the future, and we believe that along with NEC India, we can expose our students to world-class technological innovation and real-world problem-solving acumen. We believe this will help groom them into becoming better technology professionals who will be equipped to navigate a dynamic workplace.” 

As data analytics, high-performance computing and artificial intelligence continue to converge and evolve, the world is geared up for a new future. Through this partnership, NEC India aims to help students design solutions and stay on the leading edge of new and emerging technologies, while keeping pace with the constantly evolving landscape. The education programme aims to upskill and make 240 students industry prepared annually.

With the establishment of the NEC Vector Engine (VE) system-driven lab, NEC India aims to equip AVIT with the technology infrastructure required for the course and project work for job-oriented, hands-on training and research facilities.

About NEC Corporation India (NEC India)

NEC is a leader in the integration of IT and network technologies and brings more than 123 years of expertise in technological innovation to provide solutions for empowering people, businesses, and society. Headquartered in Japan, NEC started operations in India in the 1950s, accelerating its growth through the expansion of business to global markets. NEC in India expanded its business from telecommunications to public safety, logistics, transportation, retail, finance, unified communication, and IT platforms, serving across governments, businesses as well as individuals. With its Centre of Excellence for analytics platform solutions, big data, biometrics, mobile and retail, NEC in India offers innovative new services and solutions for India and global markets. 

Dassault Systèmes To Showcase Virtual Twin Experiences For Indigenising And Modernising The Industry At Aero India 2023

Dassault Systèmes is participating in Aero India 2023, India’s biannual air show and aviation exhibition organized by the Ministry of Defence (MoD) and the Government of India.  This year’s event will take place at Air Force Station, Yelahanka, Bengaluru from February 13-17, 2023. At the show, Dassault Systèmes will display its role as a vital contributor to modernising and indigenising the Indian aerospace ecosystem by enabling sustainability, optimisation, and self-reliance through its 3DEXPERIENCE platform. Dassault Systèmes will demonstrate how the platform facilitates transformative and digital business processes, captures insights and expertise from across the aerospace ecosystem, and integrates multiple aspects of the value chain including design, engineering, manufacturing, marketing, maintenance and repair. ?

Additionally, the company will showcase how the 3DEXPERIENCE platform tackles the rising technological complexities within the industry through an integrated, open and mode- based data environment, and how virtual twin experiences can largely improve the efficiency of the aerospace sector in India.

Dassault Systèmes’ experts will be present at Aero India 2023 at Hall A, Booth A5.4, displaying industry solution experiences based on the 3DEXPERIENCE platform that enable quicker innovation, reduced costs, improved quality, predictive maintenance, sustainable operations and accelerated designing. Some of these include:

Co-Design to Target: Allows OEMs to integrate disparate tools, organisations and processes into a single stream to optimize form, fit and function in an integrated System Digital Mock-up (DMU). This System DMU can avoid many integration issues that significantly impact costs and schedules.

Build to Operate: Provides digital continuity that enables agile production with quality. In addition, the platform provides the ability to utilise production and supply chain scheduling for “what if” scenarios and enables capacity planning to address market demand. It connects planning to the shop floor through virtual twin technology to anticipate issues, and take proactive actions.

Keep Them Operating: Helps to improve spare part engineering, support and service engineering and MRO businesses. It gathers, aligns and enriches digital data continuity —whether internal or external, structured or unstructured, simple or complex—to deliver that information the way users want to receive it.

Engineered to Fly: Supports the development of new electric and hybrid systems in UAVs, from ideation and architecture trade-offs, through detailed design and optimisation, to model-based certification.

In addition to these industry solution experiences, there will be an Immersive Visual Experience for attendees present at the chalet.

The 3DEXPERIENCE platform is a business experience platform for knowledge and expertise, a game-changer collaborative environment that empowers businesses and people to innovate in an entirely new way. The platform enables social and collaborative interactions, 3D modeling, simulation and optimisation, and information intelligence. It serves 12 industries with tailored industry solutions to address the specific regulations and challenges of each.

For more information about Dassault Systemes at Aero India 2023: https://events.3ds.com/aero-india-2023

For more information on Dassault Systèmes: https://www.3ds.com/

Wakefit.co Raises Series D Funding, Aims To Further Expand Presence Across Karnataka

Wakefit.co, India’s largest D2C home and sleep solutions company recently raised its Series D funding round of INR 320 crore led by Investcorp, a leading manager of alternative investment products with a 40+ year track record. The company now aims to use this funding with strong financial prudence to stay true to its DNA of product innovation and customer-centricity. This round will enable Wakefit.co to strengthen its category expansion, while also expanding its omnichannel presence. In addition, these funds will also help strengthen the company’s manufacturing and supply chain capabilities, increase hiring at all levels, and improve brand-building initiatives.

The funding will also be used to expand the company’s omnichannel presence across various states such as Tamil Nadu, Andhra Pradesh, Telangana, and Karnataka. Having launched four physical stores in FY 2022 across Bangalore, in Ejipura, Banaswadi, Marathahalli, and JP Nagar, Wakefit.co plans on opening more stores across different cities in Karnataka to reach deeper pockets of the state. The launch of physical stores in Karnataka enabled the company to serve 2.15 lakh customers during the year while recording a 71% year-on-year growth between 2021 and 2022. Wakefit.co also emerged as the most searched sleep brand in the state in the past year, showcasing people’s love for the brand.

Chaitanya Ramalingegowda, Director and Co-Founder of Wakefit.co, said, “We are honoured to have served over 2 lakh customers in Karnataka with our home and sleep solutions offerings. The positive feedback we have received from our customers in Karnataka has been overwhelming. The fresh round of funding will help us expand across more cities in the state and we are continuously working to bring this to fruition. We are also appreciative of the ongoing assistance we have received from our investors and will continue to work towards achieving our vision of becoming India’s most loved home and sleep solutions brand.”

Ankit Garg, CEO and Co-Founder of Wakefit.co shared, “As we continue to expand our presence in Karnataka, we are delighted to receive Series D funding. This funding will help us strengthen our position in the home and sleep solutions industry, as well as expand our manufacturing and supply chain capabilities. We thank our customers for the longstanding support, confidence, and love that they have shown Wakefit.co. This only motivates us to do better each day,  as we aim to become a household name in Karnataka.

In FY 22, Wakefit.co clocked in an overall revenue of INR 636 crores recording a 54% revenue jump since FY 21. A significant lever for Wakefit.co’s expansion has been the launch of India’s largest furniture factory in 2022, which has helped scale the furniture segment within the company. The factory has the capacity to furnish nearly 1 lakh homes per month. Wakefit.co was also the most searched sleep brand in both states in the previous year, showcasing the brand's popularity among consumers. The company aims to close FY 2024 with over INR 1200 crores in revenue, turn EBITDA positive while growing at a rapid pace, and become the most loved home solutions brand in India.

About Wakefit.co

Wakefit.co is a research and innovation-driven sleep and home solutions company established in March 2016. It was founded by Ankit Garg and Chaitanya Ramalingegowda, with a vision to become India’s most loved home and sleep solutions brand. With a portfolio that previously included mattresses, pillows, bed frames, mattress protectors, comforters, neck pillows, and back cushions, Wakefit.co has now expanded to include home products such as study tables, bookshelves, shoe racks, TV units, bedside tables, coffee tables, dining tables, cushions, floor rugs, curtains, towels, and more. The company manufactures its products in-house at factories in Bengaluru, Jodhpur, and Delhi. It sells across the country through its own online portal, offline retail stores and through other popular online marketplaces. Wakefit.co prides itself on its customer experience, with over a million customers serviced over six years. The company received Series A funding from marquee investor Sequoia Capital India, Series B funding from Verlinvest and Sequoia Capital India, Series C funding from US-based SIG, and recently received Series D funding from Investcorp, while existing investors, Sequoia Capital India, Verlinvest, and SIG also participated.

World No.3 In Para- Badminton, Palak Kohli Now A Sponsored Sports Athlete With Herbalife Nutrition India

Premier global nutrition company, Herbalife Nutrition India, is partnering with the world’s No.3 para-badminton athlete, Palak Kohli as a nutrition sponsor.

Kohli’s exceptional athletic skills, positive spirit, and unwavering determination embody the values of Herbalife Nutrition and represent the brand's mission of empowering people to lead active and fulfilling lives.

Palak has established a strong name in the world of sports, winning numerous accolades and titles in Para-Badminton. Despite facing several challenges and obstacles in her journey, she continues to inspire others with her incredible resilience and commitment to the sport.

With more than 150 sponsored teams and athletes around the world, Herbalife Nutrition has a proven track record of working with athletes, using the science and innovation within its products and the support and knowledge of its experts to help them optimize their performance.

Currently, Palak Kohli is world no.3 in Women's doubles SL3–SU5 in para-badminton in the BWF (Badminton World Federation) rankings. She was the youngest para-badminton athlete in the world and the first and only para-badminton athlete from India to qualify for the Tokyo Paralympics in three events - singles, doubles & mixed doubles - finishing 4th in mixed doubles.

“We are thrilled to welcome Palak Kohli to the Herbalife Nutrition family,” said Ajay Khanna, Senior Vice President and Managing Director of Herbalife Nutrition India. “Her dedication to the sport and her belief in the importance of good nutrition makes her an ideal partner for our brand. We look forward to working with her to support her sporting ambitions and furthering our mission of raising awareness of the importance of good nutrition and a healthy active lifestyle.”

“I am excited and honored to partner with Herbalife Nutrition India as my nutrition sponsor and be part of a team of sporting legends who share the same passion,” said Palak Kohli. “It’s great to be associated with a brand committed to helping sportspeople of all levels reach their full potential through good nutrition. I believe that this association with Herbalife Nutrition India will help me deliver my best performance and inspire others to live a healthy and active lifestyle.”

In India, Palak Kohli is the sixth Indian athlete and the first para-athlete to join the Herbalife Nutrition family. She follows in the footsteps of fellow Indian sporting legends, Virat Kohli, Mary Kom, Lakshya Sen, Manika Batra, and Smriti Mandhana.

About Herbalife:

Herbalife Nutrition (NYSE: HLF) is a global company that has been changing people’s lives with great nutrition products and a business opportunity for its independent distributors since 1980. The Company offers science-backed food products to consumers in 95 markets through entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle. Through the Company’s commitment to nourish people, communities and planet, Herbalife Nutrition pledges to achieve 50 million positive impacts – tangible acts of good – by 2030, its 50th anniversary.