Dvara KGFS Announced Successful Debt "Raise Of $10 Million" To Fuel Company's Expansion Plans

Dvara Kshetriya Gramin Financials Pvt Ltd (Dvara KGFS), a rapidly growing financial services company dedicated to maximizing financial well-being in rural India announced the successful debt raise of $10 million to fuel the company's expansion plans and strengthen its efforts to empower underserved communities across the country. The funds were secured from BlueOrchard Microfinance Fund, a global impact investor dedicated to creating positive development impact.

The debt was raised through the issuance of listed non-convertible foreign currency bonds under the External Commercial Borrowings route. The Bonds are listed in the India International Exchange, GIFT City, Gujarat, India's first operational smart city and International Financial Services Centre (IFSC), which has emerged as a nucleus for global financial transactions, fostering a conducive environment for seamless capital flow to India. Leveraging this promising ecosystem, Dvara KGFS capitalized on the opportunity to access foreign debt while also gaining international visibility.

“In a great start to a very promising year, we are delighted to announce the debt raise from BlueOrchard,” said Mr. LVLN Murty, Managing Director & CEO of Dvara KGFS. “The company aims to grow by 40% in the current financial year, and exploring various avenues of raising liquidity will be critical to ensuring of a well-diversified resource profile. Our increased partnerships with like-minded foreign funds working in the impact space will be instrumental in expanding our reach and empowering even more underserved communities by providing them with access to critical financial services.”

Dvara KGFS leverages an omni-channel approach, offering a wide range of loans and third-party products to cater to the diverse financial needs of its clientele. With a robust infrastructure encompassing 400+ branches spanning 10 Indian states, the company is poised for a trajectory of sustainable and profitable growth.

“We are thankful for the continued patronage of BlueOrchard Microfinance Fund, as this is the second round of debt they have provided to us in quick succession. It speaks volumes about the high standards of corporate governance and robust business infrastructure that the company employs to create impact in the space that deserves it the most,” commented Ms. Shilpa Bhatter, CFO of Dvara KGFS. “By listing its debt on the India International Exchange, the company also gains visibility to the fast-evolving international debt market thereby securing sustainable access to lower-cost debt and allowing us to maximize our impact on rural communities.”

India's Data Centre Boom To Drive 10 Million Sq.ft. Real Estate Demand, USD 5.7 Billion Investments By 2026: JLL

* Expected demand for Indian data centre industry: 650-800 MW during 2024-26

* Absorption recorded in 2023: 147 MW, indicating industry resilience.

* 791 MW capacity to be added in India's DC industry by 2026.

The Data Centre (DC) industry in India is set to witness remarkable growth, with projections of adding 791 MW capacity by 2026. This expansion will drive a demand for 10 million sq. ft. of real estate space, attracting investments worth USD 5.7 billion. The surge is primarily fuelled by the increasing adoption of Artificial Intelligence (AI). As usage of AI gains pace, the demand for Indian DCs is expected to be in the range of 650-800 MW during 2024-26.

The exponential growth in computing power and the resulting new applications are expected to drive strong demand for DC industry over the medium term.

Cloud Service Providers (CSPs), who essentially offer IT infrastructure systems primarily for data storage and computing power accessible through the Internet, have realigned their requirements to factor in AI-led demand. The CSPs have also announced higher investments to scale up AI-led growth.

“The exponential growth in processing power and data volumes, driven by AI, necessitates the development of new data centres capable of meeting energy, processing, and cooling needs. The anticipated expansion and progression of diverse AI disciplines are projected to create additional demand for data centres, expanding their capacity requirements and advancing their capabilities” said Rachit Mohan, APAC Lead – Data Centre Leasing and Head - Data Centre Advisory, India, JLL.

Improved absorption during H2 2023 (July-Dec 2023)

During the second half of 2023, there was a 12% increase in absorption to 81 MW compared to 72 MW during the same period last year. This growth can be attributed to CSPs gaining momentum after a brief hiatus during the first half of 2023. In Mumbai, absorption nearly doubled during this period as CSPs renewed their pace of absorption.

“India is poised to be the third-largest economy, with a projected USD 5 trillion GDP by 2027 with digital economy contribution of around 20 per cent. This digital expansion is anticipated to propel the growth of India's data centre industry, projected to increase from 853 MW in 2023 to 1,645 MW by 2026. This increase in capacity will require an investment of USD 5.7 billion and approximately 10 million square feet of real estate,” said Dr. Samantak Das, Chief Economist and Head of Research & REIS, India, JLL.

There was a lower supply addition of 75 MW during H2 2023 as the available supply from the first half was utilised to meet the demand, resulting in tighter vacancy levels of 5.5%.

Source: JLL Research

India's focus on AI is evident through the India AI mission, aimed at fostering innovation, upskilling the workforce, and ensuring responsible and ethical deployment of AI technology. With a large user market, talented workforce, and thriving startup ecosystem, India presents a significant opportunity to emerge as a global data hub, driven by sustainable practices. The country's DC sector expanded from 350 MW in 2019 to 854 MW in 2023, in line with the increasing digital usage trends.

About JLL 

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage, and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About JLL India

JLL is India’s premier and largest professional services firm specialising in real estate. The Firm has grown from strength to strength in India for the past two decades. JLL India has an extensive presence across 10 major cities (Mumbai, Delhi NCR, Bengaluru, Pune, Chennai, Hyderabad, Kolkata, Ahmedabad, Kochi, and Coimbatore) and over 130 tier-II and III markets with a cumulative strength of over 14,000 professionals. The Firm provides investors, developers, local corporates, and multinational companies with a comprehensive range of services. These include leasing, capital markets, research & advisory, transaction management, project development, facility management and property & asset management. These services cover various asset classes such as commercial, industrial, warehouse and logistics, data centres, residential, retail, hospitality, healthcare, senior living, and education. For further information, please visit jll.co.in

Toyota Technical Training Institute (TTTI) Students Excel At IndiaSkills Competition 2024

In a significant step towards supporting the "Skill India Mission” and “Viksit Bharat 2047,” Toyota Technical Training Institute (TTTI) today announced the exceptional performance of its students at the IndiaSkills Competition 2024, organized by the National Skill Development Corporation (NSDC).  Prem V earned a gold medal in Additive Manufacturing as an individual competitor. In the Manufacturing Team Challenge, Mohit M U, Harish R, and Nelson V triumphed as a team, securing gold medals. In Mechatronics, the team of Darshan Gowda C S and Bhanu Prasad S M also achieved gold, while Hemanth K Y and Uday Kumar B garnered silver in the same category. Additionally, Rohan A S received a silver medal and Mr. Sudeep S M received Medallion of Excellence in Car Painting as an individual participant. The competition, held every two years, serves as a platform for young talents to showcase their skills at regional and national levels. TTTI, in collaboration with NSDC, extends its support to foster skill development at grassroot level among the youth, aligning with the vision of the Ministry of Skill Development and Entrepreneurship (MSDE).

TTTI participated and hosted four categories of the "Off-site" portion of the competition, held at YashoBhoomi Dwarka, New Delhi in categories including Manufacturing Team Challenge, Mechatronics, Car Painting, and Additive Manufacturing. The students of TTTI exhibited exemplary skills and dedication, bringing honour not only to the institute but also to the nation. The "Off-site" segment of the competition, under TTTI's stewardship, witnessed enthusiastic participation and spirited performances from contestants across the country. TTTI extended support in various areas including venue, infrastructure, machinery, consumables, and jury, ensuring the smooth conduct of the competition.

Speaking on the occasion, Ms. Monika Nanda – General Manager, Marketing and Communications, NSDC said, “I extend my heartfelt congratulations to the outstanding students of Toyota Technical Training Institute (TTTI) for their remarkable achievements at the IndiaSkills Competition 2024. Their exemplary skills and dedication are a testament to the effectiveness of TTTI's training programs. These winners not only bring honour to their institute but also enhance the reputation of Indian skill development on a global scale. We are confident that those selected for the WorldSkills Competition will continue this legacy of excellence and make India proud on the international stage.”

Expressing his thoughts, Mr. G. Shankara - Executive Vice President, Finance and Administration, Toyota Kirloskar Motor said, “We take immense pride in the remarkable achievements of the TTTI students at the IndiaSkills Competition 2024. We are happy on their successful journey and because of their hard work they have reached to this milestone. We thank Trainers, Faculty members & all the stake holders who have made us proud.  We wish all the best for the winners for their next journey towards World Skills Competition 2024 scheduled in Sep 24 at Lyon France to give their best performance. Through TTTI we reaffirm our commitment towards society for transforming rural youth into World Class competitive Technician and producing mass happiness for all & there by striving to align with national goals such as ‘Skill India’ and ‘Viksit Bharat 2047’. They are in perfect harmony with our mission of 'Producing Happiness for All' by imparting our knowledge and cultivating young individuals into globally competitive technicians.

Furthermore, TTTI is delighted to announce that the top contestant from IndiaSkills Competition will represent India at the prestigious WorldSkills Competition in Lyon, France, scheduled between 10th to 15th September 2024. The WorldSkills Competition, initiated in 1950, serves as a global platform for skills excellence and development through international cooperation. India's participation in previous editions has showcased the country's talent and potential on the global stage.

Since its inception in 2007, TTTI has been committed to providing advanced technical education and fostering overall development among rural youth. The planned increase in student intake reinforces TKM’s commitment to empowering economically challenged students, creating world-class technicians, enhancing societal development, and employment. One of the recent initiatives to promote admission of female students, 'Toyota Kaushalya,' has been well-received by students. It offers a unique opportunity for youth to acquire skills relevant to the manufacturing industry, combining theoretical learning with on-the-job training (OJT) enhancing their employability. Furthermore, many of our employees after been trained at TTTI and TKM get the opportunity to be trained in Japan to gain hands on experience in global environment.

About IndiaSkills Competition

IndiaSkills Competition is organised by National Skill Development Corporation (NSDC), an apex skill development organisation working under the Ministry of Skill Development and Entrepreneurship (MSDE). IndiaSkills, the country’s biggest skill competition, is designed to demonstrate the highest standards of skilling and offers a platform to young people to showcase their talent at national and international levels. IndiaSkills Competition—regional and national—is held every two years with the support of state governments, industry, Sector Skill Councils (SSCs), State Skill Development Missions (SSDMs), corporates and partner institutes. IndiaSkills Competition has the potential to reach the grassroot level and make an impact.

About World Skills Competition

Initiated in 1950, the World Skills Competition is the global hub for skills excellence and development through international cooperation and development. It is the global meeting place for government, education, industry, and association leaders to discuss relevant and important issues related to skills management.

In 2019, the competition saw participation from more than 1300 competitors from 75 countries challenging each other in 56 skill sets. India took part in 45 skills winning 1 Gold, 1 Silver, 2 Bronze and 15 Medallions of excellence in respective categories. The team consisted of 46 talented young minds who showcased their best performance since India began to take part in the competition in 2007. The participants were selected through a nationwide screening process under the guidance of the National Skill Development Council (NSDC).

Socomec Unveils The “DELPHYS MX Elite+ UPS”, High-Peformance Solution For Critical Power Needs

Key Features:

Embedded Galvanic Isolation Transformer: Ensures exceptional load protection and high availability under all conditions.

Robust & Resilient Design: Ideal for industrial environments, featuring mechanical and electrical robustness for uninterrupted operation. Additionally, its three-proof paint extends the service life of printed circuit board assemblies (PCBAs), enhancing overall durability and reliability.

User-Friendly Operation: Simplified interface with a 10-inch colour touch screen and LED interface for intuitive control.

Cost-Effective Equipment: Designed for efficiency and longevity, reducing the total cost of ownership over the lifespan of the UPS.

Socomec, a leading global specialist in LV power management solutions, has unveiled the “DELPHYS MX Elite+ UPS”, featuring a robust IGBT architecture designed to excel in demanding environments such as harsh industrial settings and critical sectors like Processing Industries, Infrastructure, Healthcare, and IT applications. This three-phase transformer-based UPS, available in capacities ranging from 160 to 600 kVA, and capable of parallel operation with up to 6 units, reflects Socomec's commitment to delivering superior performance, reliability, and cost-effectiveness.

The DELPHYS MX Elite+ UPS offers a suite of advanced capabilities to enhance performance and efficiency. It operates permanently in VFI (Voltage and Frequency Independent) mode, ensuring a reliable and consistent power supply through online double conversion. With its high short-circuit current capacity, this UPS facilitates downstream distribution and allows for optimal selection of protective devices. Additionally, the soft start capability enables seamless operation with DG (Diesel Generator) sets, ensuring compatibility in diverse settings and enhancing overall system reliability.

The DELPHYS MX Elite+ UPS delivers exceptional efficiency, reaching up to 99% in ECO Mode, ensuring optimal energy utilization and cost savings. It comes equipped with a comprehensive suite of communication options, including RS485, RS232, and WEB/SNMP management cards, enabling seamless integration and monitoring across diverse systems. Moreover, the UPS adheres to rigorous safety standards, compliant with IEC 62040-1, IEC 62040-2, and IEC 62040-3, guaranteeing reliability and performance in critical power applications.

While speaking about the introduction of the Delphys MX Elite+ UPS, Meenu Singhal, Regional Managing Director, Socomec Innovative Power Solutions, Greater India says, " This upgraded version of our successful DELPHYS MX series is a testament to our dedication to meeting evolving customer needs. With industry-leading efficiency in ECO Mode and robust communication capabilities, this UPS sets a new standard for reliability and performance in critical power applications, while ensuring compliance with stringent safety standards."

Socomec offers comprehensive services to maximize UPS availability ranging from Preventive Maintenance Visits, 24-Hour On-Site Repairs and Training Packages. The DELPHYS MX Elite+ UPS is available immediately ensuring prompt delivery and service across India. 

How Generative AI Could Help Indian Workers To Save 51 Million Hours A Week By 2026

New research from Pearson, the world’s leading learning company, shows the massive potential of Generative AI to boost workplace productivity by helping Indian workers to save 51 million hours a week on the routine and repetitive tasks that often fill their day and lead to burnout. 

The latest instalment of Pearson’s Skills Outlook series, ‘Reclaim the Clock: How Generative AI Can Power People at Work’ - looks ahead to 2026 and identifies the top 10 job tasks with the most time saved by using the technology, in five countries (Australia, Brazil, India, UK and US).

Pearson’s workforce planning platform, powered by generative AI, finds that the work Gen AI can most effectively support is focused on tasks related to maintaining records, data collection, or researching and compiling information for others.

The ten work tasks with the most hours saved by Gen AI by 2026 in India are: 

1.       Promote products, services, or programs (4,386,799 hours)

2.       Collect data about consumer needs or opinions (3,874,794 hours)

3.       Develop marketing or promotional materials (3,513,913 hours)

4.       Identify business or organizational opportunities (3,219,578 hours)

5.       Explain technical details of products or services (3,095,700 hours)

6.       Maintain current knowledge in area of expertise (2,625,409 hours)

7.       Maintain operational records (2,602,099 hours)

8.       Communicate with others about operational plans or activities (1,798,296 hours)

9.       Examine materials or documentation for accuracy or compliance (1,575,060 hours) 

10.   Evaluate the quality or accuracy of data (1,568,961 hours)

By augmenting basic tasks with generative AI, companies and their workers can reallocate time to focus on the high-value work that humans do best: strategic thinking, collaboration, caring for others, decision-making, innovation, problem-solving, empathy, and leadership. 

At an individual level, even small amounts of time saved with Generative AI can help people feel more in control of their job and achieve a better work-life balance. 

Oliver Latham, VP of Strategy and Growth for Pearson Workforce Skills, said: “In nearly every workplace, people spend their day on common, time-consuming tasks that eat away at productivity or their work-life balance. If those tasks could be augmented with generative AI, employers and their workers could reallocate time to the things that need a more human touch and mean more to their customers. Employers should consider how to incorporate this new technology into their teams and redesign roles to free people up to focus on more valuable, human tasks. They should also consider the need for training and support for employees, so they can use it effectively and responsibly.”

Methodology:

At Pearson we believe that the future of work can be one where people and Gen AI can collaborate by using AI as a tool to enhance human potential. For this study, Pearson used census and other workforce datasets to create a single view of the current workforce in the US, UK, Australia, India and Brazil. Using Pearson’s proprietary occupations ontology of 5,600 jobs and 76,000 tasks, each job can be viewed as a collection of tasks. This allows our machine learning algorithms to calculate future technology impact at a task level.

Pearson looked at hours currently spent, countrywide, in India on work tasks each week, and then calculated what this would be in three years' time as Gen AI technology is adopted into the workplace.  We then identified the tasks which would have the greatest hours reduced by the technology (specifically LLM Chatbots and AI Text-to-Visual Media Generators).

About Pearson:

At Pearson, our purpose is simple: to add life to a lifetime of learning. We believe that every learning opportunity is a chance for a personal breakthrough. That’s why our c. 18,000 Pearson employees are committed to creating vibrant and enriching learning experiences designed for real-life impact. We are the world’s leading learning company, serving customers in nearly 200 countries with digital content, assessments, qualifications, and data. For us, learning isn’t just what we do. It’s who we are. Visit us at pearsonplc.com

Astral Limited Launches Comprehensive New Paint Line As Astral Paints

Astral Limited, a leading innovator in the building construction segment and one of the fastest-growing building material company, is proud to announce the launch of its extensive new paint line, Astral Paints. The new exciting brand by Astral Limited offers a vast array of options to meet the needs of every painter, designer, and homeowner, featuring a diverse selection of colours, finishes, and specialized formulations.

After acquiring a majority stake in Gem Paints in 2022, Astral Limited thoroughly prepared to enter the paint industry. The company has strategically launched its first phase in Bengaluru, leveraging three state-of-the-art paint units. Moreover, the company will expand its paint line across India in phases, starting with Karnataka and Gujarat.

Mr. Sandeep Engineer, CMD of Astral Limited, stated, “The launch of Astral Paints marks a significant milestone in Astral Limited's journey. It's a strategic move to diversify and solidify our presence in the ever-evolving Indian market. Our deep understanding and extensive experience within the building materials ecosystem give us a distinct advantage. We are confident that Astral Paints will revolutionize the industry with its versatile paints, extensive colour options, and unwavering focus on quality. Paints have always held a special place in my heart, stemming from my father's association with the industry. We embody Astral's core value – 'TRUST' – and deliver on our promise: 'The trust of Astral, now in Paints.”

Mr. Saumya Engineer, CEO of Astral Adhesives & Paints, added, “We are launching Astral Paints not merely to add a feather in Astral Limited’s cap, but to establish it as a leading business within the Astral Group. Our consistent and strategic approach has proven successful with our other ventures such as adhesives, construction chemicals, and bathware, and we will maintain this same momentum with paints. While we are not in a rush to go pan-India, we will strategically and incrementally introduce our products into different markets, with the aim of covering the entire country within the next three years.”

Astral Paints is designed to cater to a broad spectrum of applications, ensuring there is a perfect solution for every project. The range includes decorative paints for interior and exterior emulsions in luxury, premium, and economy segments, under various product names: Elita, Esteema, and Styla for interior emulsions, and Extura Plus, Extura, and Raga for exterior emulsions. Additionally, Astral Paints offers a wide range of undercoats through primers and putties, synthetic enamels, and ancillary products like rollers and brushes.

Astral Paints also boasts an extensive colour palette, with over 1400 refreshing colours ranging from timeless classics to the latest trends, providing an unparalleled selection to bring any vision to life. Understanding consumer needs, Astral has also introduced specialty paints, such as Kitchen Special Paint, which features high durability and oil-resistant properties.

The company hosted a launch event at a leading hotel in Bengaluru that saw the attendance of over 300 channel partners and featured the presence of promoters, the Engineer family, alongside the senior Astral Limited team. The event witnessed enthusiastic participation from all attendees, with the Engineer family unveiling the ‘Astral Paints Logo’ followed by the launch of the ‘Astral Paints Product Range’.

Astral Limited, which recently celebrated 25 years in the building construction industry, has become a renowned household name across the nation. Originally, a pipes company, Astral quickly rose to become one of the leading pipe manufacturing company in India. In a short span, the company diversified into various product categories, including water tanks, adhesives, construction chemicals, waterproofing, and now paints.

About Astral Limited:

Entrusted in India, Making waves across the globe!

Astral Limited started its operations in 1998 from Ahmedabad, Gujarat by venturing into Polymer Pipes Manufacturing. Right from introducing CPVC piping in India to introducing many innovative piping solutions, Astral Pipes today offers the widest range of pipes and fittings for various applications including specialized products for infrastructure development. Astral also manufactures a wide range of water tanks available in various storage capacities.

Astral entered the Adhesives category in 2014 by acquiring Resinova Chemie Ltd. And the UK-based Seal It Services Ltd. Astral Adhesives manufactures a diversified range of adhesives, sealants, putties, and construction aids. Recently, Astral has forayed into the Faucets and Sanitary ware category as well as in the Paints category and is poised to introduce a product range to meet different consumer requirements.

Srinivas R. Kulkarni, An US Scientist And Brother Of Sudha Murty, Has Been Awarded The Prestigious Shaw Prize In Astronomy For 2024

Kulkarni, who serves as the George Ellery Hale Professor of Astronomy and Planetary Science at Caltech has been awarded the Shaw Prize in Astronomy for 2024 for his groundbreaking discoveries on millisecond pulsars, gamma-ray bursts, supernovae, and other transient astronomical phenomena. The award citation further states that Kulkarni's "contributions to time-domain astronomy culminated in the conception, construction, and leadership of the Palomar Transient Factory (PTF) and its successor, the Zwicky Transient Facility (ZTF), which have revolutionized our understanding of the time-variable optical sky."

One of his numerous accomplishments includes serving as the director of Caltech Optical Observatories from 2006 to 2018. Kulkarni’s pioneering work in time-domain astronomy, notably through the Palomar Transient Factory and the Zwicky Transient Facility, has significantly enhanced the understanding of the dynamic sky. The Shaw Prize Foundation stated, “The Shaw Prize in Astronomy is awarded to Shrinivas R. Kulkarni for his ground-breaking discoveries about millisecond pulsars, gamma-ray bursts, supernovae, and other variable or transient astronomical objects.”

Developed by the late Hong Kong philanthropist Run Run Shaw, the Shaw Prize consists of three annual awards in Astronomy, Life Science and Medicine, and Mathematical Sciences, each with a monetary award of USD 1.2 million.

This year marks the 21st time the prize been awarded. Run Run Shaw, who is known for his philanthropy in education, scientific research, healthcare, and the arts, established the Shaw Prize, sometimes called the “Nobel of the East,” The Shaw Foundation Hong Kong and The Sir Run Run Shaw Charitable Trust continue to support these areas.

Kulkarni’s career is distinguished by numerous notable achievements. As detailed in his biography on Caltech’s website, he received his Master of Science degree from the Indian Institute of Technology in 1978 and his PhD from the University of California in 1983. He led the Caltech Optical Observatories as director from 2006 to 2018, significantly advancing the field of observational astronomy. Kulkarni has received many awards, including the National Science Foundation's Alan T. Waterman Award and the Dan David Prize. He has also authored or co-authored more than 60 papers in the journal Nature by the age of 60.

Under Kulkarni’s guidance, the Palomar Transient Factory made several discoveries in astronomy. The Zwicky Transient Facility has continued this work, helped astronomers study, and understand transient cosmic events. These projects have allowed scientists to observe and analyse short-lived astronomical phenomena, greatly expanding our knowledge of the universe.