Over 120 Online Skill Gaming Companies Seek Distinction From Fantasy Sports In GST

Over 120 online Casual Skill Gaming Companies wrote to the Honorable Ministry of Finance, and all GST Council Members seeking distinction on tax treatment from Fantasy Sports citing fundamental differences in business models and how they generate revenues. The industry highlights that Fantasy Sports, with guaranteed prize pools, are taxed differently from Online Skill Gaming Globally. Moreover, the consumption patterns of Online Skill Gaming differ markedly from Fantasy Sports and Lotteries.  

The Casual Gaming category, even when played with money, is starkly different from Fantasy Sports or Large Tournament (Lotteries) payouts. Quick Casual Games have a very different business model, consumption pattern, social relevance, as well as unit economics when compared with Large Payout Tournaments (such as Fantasy). Even several marquee research experts, such as KPMG, Redseer, etc., classify Fantasy Sports as a separate category within the real money gaming industry. In Online Skill Gaming, players engage in live matches based on their skills in the games such as First Person Shooter Games, Card Games Carrom, 8 Ball Pool, Chess, etc., playing against each other in quick succession. However, in Fantasy Sports, it differs with a large guaranteed prize pool that users participate in by way of teams. 

The gaming companies with a combined user base of over 400 million users, urged to not be clubbed with games of chance in their submission. They also highlight in this representation that GST on Deposits would result in closure of all continuous game formats that have very weak price elasticity as up to 75% of the deposit money is withdrawn back by the user in a way of winnings. The gaming companies also confirmed submitting this information to the Ministry of Finance for their consideration.  

The representation that was made by companies that represent Esports, Card Games, Casual Games claimed that in the case of Fantasy Sports, players don't play live against each other, but rather in a Tournament Model where even if platforms are asked to pay GST @ 28% on Full Face Value, the fundamental proposition will not change. (Small Entry Fee and Large Life-changing Winnings). 

Users of online skill gaming will move to offshore platforms for entertainment as they will not have any winnings left due to high taxation. This will lead to the shutdown of more than 120 online skill gaming companies. However, for Fantasy Sports, the hike in tax does not affect the winnings, and hence users will continue to play and the Fantasy Operators will survive on GST on Deposits. 

Online Gaming companies also cited examples from other major jurisdictions where Online Skill Gaming is protected and taxed differently from Fantasy Sports.

The proposed 28% GST rate on the Full value or deposit poses a severe threat to the online skill gaming industry's survival, particularly to startups currently in the research and IP generation phase. Many of these companies are incurring losses, and the new GST structure could lead to their immediate collapse. 

The GST Council is requested to look into the distinction in the business model of the thriving Casual Gaming segment even if played for a small entry fee, which has the largest user base in the country and pays 50% of the Rs. 2,000 annual GST paid by the Online Gaming sector.  

The decision to charge 28% GST on Full value or deposit is threatening legitimate activity of online games of skill played with a monetization model of entry fee and playing for winnings. To mitigate the potential repercussions and preserve the thriving Online Skill Gaming industry, industry representatives are seeking urgent discussions with the GST Council to advocate for a more sustainable tax structure that acknowledges the unique characteristics and potential of the sector. 

Bank of India Q1FY24 Results Reports An Increase Of Net Profit By 176% YoY To Rs.1,551 Cr.

The Board of Directors of Bank Of India approved the audited financial results for the quarter ended 30th June 2023.

Appended below are the Results Summary for Q1 – FY2024

Key highlights:

Net Profit increased by 176% YoY to Rs.1,551 Cr.

Operating Profit increased by 72% YoY to Rs.3,752 Cr.

Net Interest Income increased by 45% YoY to Rs.5,915 Cr.   

NIM (Global) improved by 49 bps YoY.

Yield on Advances (Dom.) improved by 157 bps YoY.   

Gross NPA ratio down by 263 bps YoY.

Net NPA ratio down by 56 bps YoY.

Provision Coverage Ratio (PCR) improved by 156 bps YoY.   

CRAR stood at 15.60%, with CET-1 ratio at 13.02%.

Global Business crossed 12 lakh crore mark, increased by 8.61%.   

Global Deposits increased by 8.71% YoY.

Gross Advances increased by 8.48% YoY.

RAM Advances grew by 11.75% YoY and it constitutes 55.39% of Advances.   

Retail Credit grew by 15.05% YoY.

Agriculture Credit grew by 10.10% YoY.    MSME Credit grew by 9.19% YoY.

CASA deposits increased by 7.56% YoY and CASA ratio at 44.52%.

Profitability Q1FY24:

Net Profit increased by176% YoY to Rs.1,551 Cr in Q1FY24 against Rs.561 Cr in Q1FY23.

Operating Profit increased by 72% YoY to Rs.3,752 Cr for Q1FY24 against Rs.2,183 Cr for Q1FY23.

Net Interest Income (NII) increased by 45% YoY to Rs.5,915 Cr for Q1FY24 against Rs.4,072 Cr in Q1FY23.

Non-Interest Income increased by 27% YoY to Rs.1,462 Cr in Q1FY24 against Rs.1,152 Cr for Q1FY23.

Ratios:

NIM (Global) improved by 49 bps to 3.03% in Q1FY24 against  2.54%  in Q1FY23. NIM (Domestic) improved by 51 bps to 3.37% in Q1FY24  against 2.87% in Q1FY23.

Return  on  Assets  (RoA)  improved  by  42  bps  to  0.71%  in  Q1FY24  against 0.29% in Q1FY23.

Return on Equity (RoE) improved by 806 bps to 14.90% in Q1FY24 against 6.84% in Q1FY’23.

Cost to Income ratio (Global) improved by 908 bps to 49.14% in Q1FY24 against 58.22% in Q1FY23.

Slippage ratio improved to 0.53% in Q1FY24 against 0.69% in Q1FY23.

Credit Cost stood improved to 0.64% in Q1FY24 against 1.21% in Q1FY23.

Yield on Advances (Global) improved by 157 bps to 8.10% in Q1FY24 against 6.53% in Q1FY23.

Cost of Deposits (Global) stood at 4.22% in Q1FY24 against 3.49% in Q1FY23.

Productivity Ratios:

Business per employee improved to Rs.23.21 Cr in Jun’23 from Rs.21.26 Cr in Jun’22.

Business per branch improved to Rs.237.04 Cr in Jun’23 from Rs.218.24 Cr in Jun’22

Net Profit per employee improved to Rs.11.85 lakh in Jun’23 from Rs.4.27 lakh in Jun’22.

Net Profit per branch improved to Rs.121.06 lakh in Jun’23 from Rs.43.82 lakh in Jun’22.

Global and Domestic Business Growth:

Global Business crossed 12 lakh crore and reached Rs.12,14,808 Cr with a growth of 8.61% YoY in Jun’23.

Global Advances grew by 8.48% YoY and reached Rs. 5,18,264 Cr in Jun’23.

Global Deposits increased by 8.71% YoY to Rs. 6,96,544 Cr in Jun’23.

Domestic Deposits increased by 7.98% YoY to Rs. 5,89,517 Cr in Jun’23.

Domestic CASA went up by 7.56% YoY to Rs. 2,60,615 Cr in Jun’23 and CASA ratio stood at 44.52%.

Savings deposits increased by 6.21% YoY to Rs.2,25,020 Cr in Jun’23.

Current deposits increased by 16.94% YoY to Rs.35,596 Cr in Jun’23.

Domestic Advances increased by 7.98% YOY to Rs. 4,33,246 Cr in Jun’23.

RAM advances increased by 11.75% YOY to Rs.2,39,954 Cr, constituting 55.39% of Advances in Jun’23.

Retail Credit grew by 15.05% YOY to Rs.95,963 Cr in Jun’23.

Agriculture Credit grew by 10.10% YOY to Rs.72,801 Cr in Jun’23.

MSME Credit grew by 9.19% YOY to Rs.71,190 Cr in Jun’23.

Overseas Deposits increased by 12.91% YOY to Rs. 1,07,027 Cr and Overseas Advances increased by 11.08% YOY to Rs. 85,018 Cr in Jun’23.

Capital Adequacy:

As on 30.06.2023, Bank's total Capital Adequacy Ratio (CRAR) was at 15.60% against 16.28% in Mar’23.

CET-1 ratio stood at 13.02% as on Jun’23 against 13.60% in Mar’23.

Priority Sector, Financial Inclusion & Digital Banking:

Priority Sector Advances increased by 8.89% YOY and achieved 43.14% of ANBC as on Jun’23. Agricultural advances achieved 18.98% of ANBC.

Advances to Small & Marginal Farmers achieved 12.09% of ANBC in Jun’23 against regulatory norm of 9%.

Advances to Weaker Sections achieved 15.05% of ANBC in Jun’23 against regulatory norm of 11%

PMJDY accounts increased to 285 lakhs as on Jun’23 from 271 lakhs in Jun’22. (No. in Lacs)

Internet Banking users: Increased to 8.55 million in Jun’23 from 8.08 million in Jun’22.

Mobile Banking users: Increased to 8.46 million in Jun’23 from 6.11 million in Jun’22.

Number of UPI transactions increased by 1.45 times to 8,625 lakh in Q1 FY24 from 5,911 lakh in Q1FY23.

Digital Products:

Bank has since created end to end Digital products, viz. SB accounts on the deposit side and Mudra/KCC/Personal loan/pensioner loan on the loan segment.

Customers can open SB accounts and avail loans without visiting branch.

There are more than 20 products that will be rolled out in Q2 & Q3 of this year.

We are targeting at least Rs.10,000 Cr of business through Digital products by the end of this financial year.

Branch Network:

As on 30th June’23, the Bank has 5129 number of Domestic branches.

Rural: 1852 (36%), Semi-Urban: 1456 (28%), Urban: 829 (16%), Metro: 992 (19%).

Awards & Accolades:

PT Bank of India Indonesia, the Subsidiary of our Bank has been ranked as no. 1 bank in Indonesia in the category of “Best Conventional Bank under KBMI I Category’ as declared by CNBC Indonesia.

Our Bank was awarded of Digidhan Awards 2021-22 by the Union Ministry of Electronics and Information Technology for achieving top position in overall performance in Digital Payments

Bank has received Infosys “Finacle Innovation Awards 2023” (Gold Winner) under Category of Product Innovation for Product: HMCQR Menu.

Bank has won for “NUMERO UNO” Award in “APY National Championship Cup” campaign from PFRDA for good performance in APY Campaign (01.10.2022 to 14.11.2022).

Bank has won for “Exemplary Award of Par Excellence” Award in “Circle of Excellence” campaign from PFRDA for good performance in APY Campaign (01.10.2022 to 14.11.2022).

Bank has been nominated for “Annual APY Exemplary Award of Excellence” for achieving 162% of Annual APY target (FY 2022-23) from PFRDA.

Bank has won “NUMERO UNO” Award in ‘Old Age  Financial  Freedom” Campaign for best performer Bank in PSB (FY 2022-23).

Adani Wilmar’s Iconic Kohinoor Brand Showcases Power of Aroma In Visual Masterpiece With ‘Khushboo Kuchh Khaas’ Campaign

- Directed by renowned ad-filmmaker Prakash Varma, the campaign is conceptualised by DDB Tribal-

Adani Wilmar Limited (AWL), one of India's leading foods FMCG companies, has unveiled the comeback of Kohinoor Basmati Rice, in a 360-degree campaign, that helps viewers visualize the aroma of Basmati. The film – Khushboo Kuchh Khaas - has been conceptualised by DDB Tribal and directed by renowned ad-filmmaker Prakash Varma. It features 48 actors and dance performers from 12 different Indian cities, guided by a choreographer from London, set to an original composition.

Based on fact that in our daily lives we often grow accustomed to mundane meals that are served without much thought. Kohinoor aims to revive the enchantment of dining by awakening a renewed passion for meals. Premium Basmati rice such as Kohinoor has a unique, rich aroma that is universally understood and enjoyed. The film’s powerful cinematography and music takes viewers on a delightful journey of an orchestral symphony evoking a longing for the brand.

"Our campaign for Kohinoor Rice aims to forge a deep emotional connection with consumers by highlighting its captivating aroma and lineage," said Mr. Vineeth Viswambharan, Associate Vice-President of Marketing & Sales at Adani Wilmar. "Setting a new benchmark for creative storytelling, the film is sans dialogues or voiceovers or texts and yet it communicates in a universal language of music & visualization which is instinctively understood across the country, while powerfully communicating brand USPs.” he added.

Prakash Varma, Director, Nirvana Films said, “As a director it’s rare to get an opportunity where you can creatively explore this kind of theme in an Ad film. It was fun to collaborate with Fraz and the agency team along with the clients who gave me the freedom to explore my craft. I was entrusted with a lot of room to play and have fun with the style. The film is operatic, theatrical and dramatic which is quite clutter breaking. Of course it always helps to have a single focused idea, in this case ‘aroma’, to drive home the point effectively. My team of assistants, DOP, production designer, costume designer, food stylist, artists, casting director, choreographer, music director, editor and support team were thrilled to be able to work on this project because the process was quite magical.”

Adani Wilmar’s strategic bid for widespread reach and engagement through Meta and Google platforms includes Facebook, Instagram, YouTube, and the Google Display Network, as the key channels to drive the campaign's communication. By leveraging the immense popularity and influence of these platforms, the brand aims to connect with a diverse range of consumers, delivering captivating content and immersive experiences that showcase the allure of Kohinoor Rice.

Back in 2022, Adani Wilmar acquired the renowned Kohinoor Brand – domestic (India region) from McCormick Switzerland GMBH. Kohinoor as a brand is dedicated to bringing the authentic taste and aroma of traditional Indian biryani to your kitchen and has built a strong reputation as a trusted name in the industry through some of its iconic commercials in the past. With a total of 27 Variants, Kohinoor sources their basmati rice from the finest farms in India, known for producing the longest and most aromatic grains.

About Adani Wilmar Limited

Adani Wilmar Limited (AWL) is one of the largest food FMCG companies in India offering most of the primary kitchen essentials for Indian consumers, including edible oil, wheat flour, rice, pulses and sugar. The company’s products are offered under a diverse range of brands across a broad price spectrum catering to different customer groups. Its flagship brand ‘Fortune’ is one of the largest selling edible oil and food brands in India. It has a wide array of packaged foods including packaged wheat flour, rice, pulses, besan, sugar, soya chunks and cereals-based products such as ready-to-cook khichdi. It also offers a diverse range of industry essentials, including oleochemicals, castor oil and its derivatives and de-oiled cakes and HPC category under brand Alife, which includes soaps, hand washes and hand sanitisers.

Link: https://youtu.be/u5laeswSWa0

Srinivasan Services Trust Invests INR 20 Million In Tiger Conservation Initiatives Across Tamil Nadu And Karnataka

Srinivasan Services Trust (SST), the social arm of TVS Motor Company and Sundaram-Clayton Limited, has invested INR 20 million in various conservation initiatives, including water conservation, forest equipment, transportation, and anti-poaching camps across six tiger reserves in Tamil Nadu and Karnataka. SST is dedicated to improving living conditions for staff members of the forest department and to construct anti-poaching camps equipped with solar power and drinking water facilities. SST’s tiger conservation program aligns with their broader mission of developing tribal villages, for which SST has invested over INR 250 million over the past 16 years.

Sharing his views, Mr. Swaran Singh IAS (R), Chairman, Srinivasan Services Trust, “Our commitment to tiger conservation exemplifies our determination that goes beyond just corporate social responsibility. At Srinivasan Services Trust, we embrace the responsibility to lead, inspiring other corporates to take the mantle of environmental stewardship. By each corporation taking a step forward, we collectively amplify the impact of conservation efforts, ensuring a brighter future for our wildlife. It is not just about us; it is about fostering collaboration between governments, non-governmental organizations, and all stakeholders, united under a common cause towards a sustainable and thriving world.”

In 2022, SST donated a minibus to the Sathyamangalam Tiger Reserve. Additionally, SST contributed to the Bandipur Tiger Reserve by donating two forest-road-friendly motorcycles and provided tractors for water transportation in Mudumalai and Bandhavgarh. To boost conservation efforts, the trust also supplied high luminescent search lights and GPS devices to Mudumalai, Sathyamangalam, and Kalakkad-Mundanthurai tiger reserves.

Apart from this, Srinivasan Services Trust, in collaboration with Nagarahole Tiger Reserve, is executing a pilot project of electronic surveillance to gather information and data on human-animal conflicts and to use the data for better management of the reserve. SST's commitment to wildlife conservation and tribal development showcases how businesses can make a significant impact in preserving our natural heritage and empowering marginalized communities.

About Srinivasan Services Trust (SST): Srinivasan Services Trust (SST), the social arm of TVS Motor Company and Sundaram-Clayton Limited started working in villages from mid 1990s. Starting with a model of philanthropy, it matured into a model centred on community participation in all its projects. Today, SST works in ,2500 villages in the country with 2,000 villages in Tamil Nadu. It follows a holistic and participatory approach of village development, working very closely with the community and the government. SST’s focus is to bring about sustainable development in villages through Total Community Involvement. Society building through development of women and children, conservation of water, providing holistic health and education infrastructure by renovating the government infrastructure and preserving the environment are its main focus areas. SST works towards economic development of the community by helping them to set up microenterprises and supporting them to improve agriculture and livestock income. SST nudge communities to embrace practices towards better quality of life by ensuring a participatory approach right from planning to execution of activities. SST’s long-term goal is to create robust communities, through a strong bonding and a sense of ownership among community propelling sustained growth of the villages.

Hero Motocorp Receives An Overwhelming Response For Harley-Davison X440

* ONLINE BOOKINGS TO CLOSE ON 3rd AUGUST 2023

* DELIVERIES TO COMMENCE FROM OCTOBER 2023

Harley-Davidson X440, the first co-developed premium motorcycle of Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters and iconic American motorcycle-maker Harley-Davidson has received highly positive response in customer bookings, since its launch on July 3rd, 2023.

The company will close the online booking window on August 3rd 2023, as the test rides at national scale for the pre-booked customers will begin from September 1st 2023 onwards. Hero MotoCorp will start the production of the Harley-Davidson X440 in September at the company’s Garden Factory at Neemrana, in the northern Indian state of Rajasthan, and commence customer deliveries from October 2023. Deliveries to customers will be made on a prioritised basis as per booking dates.

The ramp up of production capacity is already in progress in response to the demand trends. The resumption date of online bookings and the price for the next window  will be announced later.

Niranjan Gupta, Chief Executive Officer, Hero MotoCorp said, “It is heartening to see  the increasing inflow of enquiries and bookings for Harley-Davidson X440. The  volume so far has surpassed our expectations and we have reached a point where we have decided to close the online booking channel temporarily.

“The  response is reflective of the brand love and trust that riding enthusiasts hold for Harley-Davidson and Hero MotoCorp. As we prepare for production and deliveries of Harley-Davidson X440, we are confident of offering an exceptional riding experience to the customers with best-in-class power, performance, and value proposition.”

The motorcycle is available in three variants – Denim, Vivid and S at an introductory price point of INR 2,29,000/- (Denim), INR 2,49,000/- (Vivid) and INR 2,69,000 (S) respectively. The Harley-Davidson X440 can be booked online till August 3, 2023, by visiting  www.Harley-Davidsonx440.com with a booking amount of INR 5000/-.

The Harley-Davidson X440 inherits the character of the iconic Harley-Davidson brand with its commanding road presence. With its distinctive design, all-metal body, and a powerful engine, the motorcycle showcases its persona of a true performer in style. Nimble and agile in traffic, yet supremely robust and comfortable over rough terrain, Harley-Davidson X440’s ride quality opens a whole new world of inspiring riding experience. 

About Harley-Davidson

Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services. Our vision: Building our legend and leading our industry through innovation, evolution and emotion. Our mission: More than building machines, we stand for the timeless pursuit of adventure. Freedom for the soul. Since 1903, Harley-Davidson has defined motorcycle culture with an expanding range of leading-edge, distinctive and customizable motorcycles in addition to riding experiences and exceptional motorcycle accessories, riding gear and apparel. Harley-Davidson Financial Services provides financing, insurance and other programs to help get Harley-Davidson riders on the road. Learn more at www.harley-davidson.com.

Luminous Celebrates World Nature Conservation Day 2023, With 2500 Trees Under Their CSR Initiative

Luminous Power Technologies, India's leading power and energy brand, celebrated World Nature Conservation Day 2023 in a significant way by bringing together its employees from across the country to observe this important occasion. With an unwavering dedication to the planet's well-being, Luminous has embraced 'Project LIFE' (Luminous Initiatives For Environment) under which they run many such initiatives for a sustainable environment.

Through Project L.I.F.E., Luminous has set three year targets for planting trees to help combat deforestation, mitigate climate change, and restore the ecosystems. The initiative embodies the company's core values of corporate social responsibility and social impact, serving as a beacon of hope for environmental stewardship.

In collaboration with the Green Dream Foundation, this conscious effort aims to contribute to local, national, and global conservation efforts while addressing multiple Sustainable Development Goals (SDGs). During the past year, under Project LIFE, Luminous and the Green Dream Foundation successfully planted over 7500 trees across Gurugram, Baddi, Gagret, Hosur and Haridwar. Continuing with the same fervour, Luminous has continued its commitment by planting an additional 6500 trees this year. The commitment extends to nurturing these trees and ensuring their survival, too.

Speaking on the occasion, Niharika Mohan Vohra, Chief Human Resource Officer, Luminous Power Technologies, expressed gratitude to all the Luminous employees who voluntarily participated in this activity. Adding further she said, “As we look to the future, Luminous Power Technologies remains unwavering in its commitment to environmental preservation. World Nature Conservation Day 2023 is a testament to our dedication as our employees united under this cause for a greener Earth, through 'Project LIFE.' By harnessing innovation and collaboration, we envision a world where sustainability is at the core of everything we do. Our partnership with the Green Dream Foundation exemplifies our mission to create a positive global impact, setting an example for the industry and inspiring a collective effort towards a thriving, green future.”

About Luminous Power Technologies:

Luminous Power Technologies is a powerful and trustworthy brand with a wide range of innovative products in the power backup and residential solar space that covers inverters Batteries & Solar solutions. Luminous has been in business for 35 years now. Recently CRISIL has upgraded its credit rating to AAA+. With 6 manufacturing units, more than 28 sales offices in India, and a presence in over 40 countries, our 6000 employees serve more than 60,000 channel partners and millions of customers. Our motto has always been Customer Delight through Innovation & Passion with a focus on Execution & teamwork.

Lam Research And Indian Institute of Science Announce Pilot To Upskill Engineers In Semiconductor Fabrication Technology

Lam Research India today announced that it has signed a Memorandum of Understanding (MoU) with the Centre for Nano Science and Engineering (CeNSE) at the Indian Institute of Science (IISc), Bengaluru. This MoU is aimed at jointly developing a customized course offering for Indian universities to teach semiconductor fabrication technology utilizing Lam Research’s SemiverseTM Solutions virtual fabrication software, SEMulator3D®.

With the agreement, Lam reaffirms its commitment to fostering the semiconductor ecosystem in India and collaborating with academia to solve industry challenges. Since opening its first facility in India two decades ago, Lam continues to build on its role in the country’s semiconductor industry, most recently opening a state-of-the-art India Center for Engineering in Bengaluru dedicated to the creation of new technologies needed in a time of rising semiconductor manufacturing complexity.

The program, scheduled to start in August 2023 with a cohort of 30 students, will focus on device integration, including physical design learning, process flow development and virtual metrology. IISc and Lam Research will work on the framework Pilot Course syllabus with the first stage expected to be completed by December 2023 and the second stage by June 2024.

The agreement follows an announcement by governments of the United States and India in June 2023. Lam Research targets to utilize the Semiverse Solutions portfolio to deliver a virtual nano fabrication environment to help train up to 60,000 semiconductor engineers in India over the next 10 years.

Commenting on the partnership, Rangesh Raghavan, Corporate Vice President & GM, India at Lam Research said, “IISc has been a longstanding partner for Lam Research in India and we are happy to extend our relationship to help spur talent development in the semiconductor industry. We anticipate that our relationship with IISc will play an instrumental role in helping to upskill engineers and address workforce requirements as India evolves as a semiconductor manufacturing hub.”

IISc and Lam Research intend to work with the Government of India and the Government of Karnataka to explore possibilities of extending the collaboration with other universities within and outside India once the Pilot Course proves successful. After the pilot with IISc, Lam Research aims to align this curriculum with the All India Council for Technical Education (AICTE) curricula with the aim to meet its target to upskill up to 60,000 engineers over the next 10 years.

“India’s commitment to delivering 85,000 engineers by 2030 requires a transformative approach towards how we educate and train semiconductor engineers. The resources required to build a 2nm fab within a university are cost prohibitive. Training engineers in nanofabrication technologies in a virtual environment using industry-leading tools is a welcome step that will help address India’s semiconductor talent requirements in future. We are happy to partner with Lam Research in this regard. Lam Research has been our Industry Affiliate for many years, and this collaboration is an extension of our commitment to solving industry challenges through academic research and technological innovations,” said Prof. Srinivasan Raghavan, Chairperson of CeNSE, IISc.

As part of the course, students will get a chance to train on Lam Research’s SEMulator3D, a powerful 3D semiconductor process and integration modelling platform. The program is used by the world’s largest semiconductor companies, manufacturers, and foundries to model complete process flows and predict downstream ramifications of process changes that would otherwise require build-and-test cycles in the fab. Using SEMulator3D will help students learn to develop process flows and perform automated virtual experiments not feasible in the actual fab.

“As the criticality of semiconductors increases, the industry faces a major talent shortage to meet anticipated future demand. Educating the next generation of semiconductor engineers is even more daunting as it is cost-prohibitive for academic institutions to provide physical access to the most advanced nanotechnologies. This course will bring a paradigm shift for the education and training of the future Indian semiconductor workforce at greater speed and significantly reduced cost,” said David Fried, Corporate Vice President of Semiverse Solutions at Lam Research.

Lam India has been a part of CeNSE’s Industry Affiliate Program (IAP) since 2014 and is continuously engaging with the centre to collaborate on multiple innovative projects to advance the state of semiconductor technologies.

About Lam Research

Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com.