PMJ Jewels Two New Stores Launched In Bengaluru

* The new stores at Marathahalli and Phoenix Market City Mall host never-seen-before handcrafted designers for all occasions in diamond, gold and polki designs

PMJ Jewels, South India’s most loved fine jewellery brand, today launched two new stores in Bengaluru. The 1st new store of PMJ Jewels is located at 1st Floor, Novel MSR Park, Marathahalli and the 2nd new store at LG-55, Phoenix Market City Mall.

Kiran Shinde, CFO - PMJ Jewels and Mahendra Singh Bhadouria, Business Head, PMJ Jewels along with their elite customers inaugurated the new store at Marathahalli. These are PMJ’s 36th & 37th stores in South India and 5th & 6th stores in Bengaluru, as part of the brand’s aggressive expansion plans.

The new stores at Bengaluru promise to be iconic destinations for high-end jewellery, offering designs ranging from Heritage to Contemporary Diamond to Traditional Temple jewellery. The stores will be hosting never-seen-before handcrafted designer wedding jewellery in diamond and gold designs. Jewellery at PMJ has always stood as an epitome of classic glamour, a significant fashion essential and carries generations worth of sentimental value while making for distinct markers of love and tradition. The stores will also have exclusively crafted designs across diamonds, gold, solitaires along with exclusive Polki collection, and special wedding jewellery ranging from extravagant to simple, traditional to modern and also everyday light wear creations with a focus on region specific jewellery keeping in mind the discerning jewellery enthusiasts of Bengaluru.

Expressing their joy at the inauguration of the new stores Kiran Shinde, CFO - PMJ Jewels and Mahendra Singh Bhadouria, Business Head, PMJ Jewels said, “We are honoured to be inaugurating our new stores with our customers. Both our stores will be hosting unique bridal collections which will host a great opportunity for jewellery lovers to come and witness a visual extravaganza. We invite all the brides, bridesmaids, relatives and all jewellery enthusiasts to visit this beautiful display of the latest collection at our newly launched stores. We strongly believe every visitor who comes to the store will love our latest and exquisite designs and we promise a wonderful experience to cherish.” 

Competition Frameworks Should Prioritise Domestic Realities To Enhance India’s Economic Growth

* Enabling frameworks based on local experiences can spur innovation and growth in the country

The Dialogue hosted its 2nd Annual International Conference on ‘Competition Law in the Digital Age: Contextualising Global Experiences’, to discuss the role of technology markets in national and global economies and the approach of competition law and policy towards them. The event was attended by eminent personalities from inter-governmental organisations, international scholars and domain experts.

The experts emphasised the need to test frameworks that prioritise domestic realities and are customised to India’s needs. Most highlighted the necessity of tailoring competition laws to reflect the unique economic, social, and technological contexts of individual countries. 

Lazar Radic, Senior Scholar for Competition Policy at ICLE and Adjunct Professor of Law at IE Law School, said, “The Digital Markets Act (DMA) primarily focuses on business users and platforms, emphasising ‘fairness’. However, consumers and efficiencies are not part of the equation. While some may believe Europe’s approach will inevitably influence global standards, this isn’t always the case. Europe’s strategy, including its push for digital sovereignty, reflects a form of protectionism that diverges from traditional free market principles. Therefore, other countries with different priorities or free market inclinations need not adopt similar rules. Unlike broad competition laws, the DMA resembles industrial policy, allowing countries to either opt-out or develop alternative frameworks.”

Stakeholders in the Global South called for a more localised approach to developing competition policies rather than disproportionately relying on frameworks of the developed world, adding that while insights from these regions can be valuable, reliance on them should be minimal. 

Dr. Amar Patnaik, Former Member of Parliament (Rajya Sabha), said, “In the past two years, a lot has happened. For instance, the Competition Amendment Act 2023 has been enacted. At times, stakeholders have mentioned that the Competition Amendment Act is well-equipped to regulate digital market concerns. On the other hand, it has also been said that the amendments may not be sufficient, and a new law is necessary. While we explore new laws for tech markets, it is worth examining whether the Competition Amendment Act can effectively address these issues of the digital markets. The Parliamentary Standing Committee (PSC), in which I was a member, advocated for ex-ante legislation for combating anti-trust issues in the digital space, particularly the Big Tech. This interplay between the amendments and the Digital Competition Bill (DCB) should be looked into. Such interplay exists between the Competition Law and the Consumer Protection Act and the now enacted, Digital Data Protection Act. Time is ripe for principle-based legislations to build trust and the rules can evolve over a period of time as technology evolves.”

Rahul Rai, Partner, Axiom5, added, “India has a thriving startup ecosystem that drives our focus on promoting and protecting these businesses. In contrast, Europe lacks such an ecosystem and is focused on creating one, while America, having a robust startup environment, aims to address issues within its own market before expanding its approach. We need to consider similarly, how the priorities and experiences of the Global South countries can also be conceptualised in a similar manner.”

Panelists also discussed the necessity of considering how competition regulations in digital markets can impact consumer welfare and the growth prospects of nascent businesses. Notably, The Dialogue announced a survey-based paper examining the potential implications of India’s proposed Digital Competition Bill for business users in the country. Preliminary observations from the study note that 88.8% of business users believe that the digital services they use are important for the success of their business. Therefore, any law regulating digital services should be mindful of their significance to business users, including startups and MSMEs.

Experts agreed that going forward, any policy introduced by the Global South, generally and India specifically, should be cognizant of the country’s domestic realities and the policy’s potential implications for consumers and SMEs.

Rapido And TotalEnergies Marketing India Private Limited (TEMIPL) Join Forces To Empower Over 4 Lakh Auto Captains In India

Rapido, India's leading bike, auto, and cab aggregator platform, has partnered with TotalEnergies India Private Limited (TEMIPL) to boost the earnings and well-being of Rapido's auto captains, beginning with immediate fuel savings of up to 12% and advancing the use of Auto LPG as a cleaner fuel in six South Indian cities. This partnership marks a pivotal step towards creating a more sustainable and driver-centric ecosystem in the ride-sharing industry. Beyond fuel savings, Rapido and TEMIPL will jointly introduce a range of benefits, including vehicle maintenance facilities such as oil top-ups and brake checkups, regular servicing support like wheel alignments, exclusive loyalty programs, and other value-added services designed to improve everyday experience of auto captains.

“Our auto captains are the heart of Rapido, and their success is our priority,” said Pavan Guntupalli, Co-founder, Rapido. “By joining forces with TEMIPL, we are not only augmenting savings for the driver but also investing in their long-term growth and well-being. This partnership is a testament to our commitment to creating a sustainable and rewarding platform for our drivers.”

Subramaniam Ramaswamy, Deputy CEO, LPG Division, TEMIPL added, “We are excited to partner with Rapido in their mission to empower auto captains. This collaboration aligns perfectly with our commitment to providing innovative energy solutions and supporting local communities. By optimizing Auto LPG consumption and offering additional benefits, we aim to contribute to a more sustainable, safe and efficient transportation ecosystem.”

This partnership will benefit over 4 lakh auto captains present across 6 cities which include Bangalore, Hyderabad, Chennai, Coimbatore, Mysore and Salem. By combining Rapido’s deep understanding of the ride-sharing industry with TEMIPL’s expertise in energy solutions, the two companies are set to redefine the standards of driver welfare, safety, and sustainability in the sector.

Students From Goa And East Bengaluru Schools Win TCS InQuizitive 2024 Bengaluru Edition

* TCS InQuizitive will be held for high school students across 12 cities, with the aim to enhance intellectual curiosity and technology skills of the country’s brightest minds

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) witnessed enthusiastic participation from over 800 students across 200 schools at the Bengaluru edition of its flagship annual quiz, TCS InQuizitive. The event was open to students from classes 8 to 12 and showcased the intellectual prowess of the city’s youth.

After an intense five rounds of quizzing at the regional finals in Bengaluru, Vighnesh Shetye, 16, from Mushtifund Aryaan Higher Secondary School in Goa emerged as the winner, while Nithilan Ravikumar, 17 from Delhi Public School in Bengaluru East secured the runner-up position. The two students will now represent Bengaluru in the National Finals, competing with champions from 11 other regional rounds from across India. The prizes were distributed by the guest of honour, C.K. Venkataraman, MD of Titan, along with Sunil Deshpande, Regional Head, TCS Bengaluru.

“It is impressive how TCS is pushing relevant and futuristic knowledge at schools as early as 8th grade, building an amazing tech ready talent for the future. The level of knowledge among students, even in the audience today, was very impressive clearly demonstrating that are many more winners there. The consistency of the efforts and continuity of this quiz for more than two decades is very special and something only a TATA company can achieve," said Venkataraman.

“TCS has been visionary in seeding IT awareness at the school level for over two and half decades through various quizzing and student engagement initiatives. To witness so many bright minds today vying for the winning spot is truly heartening and encouraging.  We believe that such events give the much-needed exposure to the students across various cities towards trending technologies and will help them make the right choices in their bright careers ahead," added Sunil Deshpande.

TCS InQuizitive is an innovative learning initiative designed to enhance curiosity and awareness among students in fields such as information technology, science, sports, engineering, and art. There is no entry fee for participation.  

EatFit And Moderate Join Forces To Bring Nutritional Products To Consumers Nationwide

EatFit, India’s largest healthy food platform housed under Curefoods - a leading Indian cloud kitchen player, announced an exclusive partnership with Moderate, a pioneer in lifestyle nutritional products. Through the collaboration, EatFit will distribute Moderate’s innovative products, including the highly acclaimed Moderate - Carb, Calorie & Sugar Cutter and Moderate-Happy Gut Probiotic Powder, through its platforms and affiliated brands.

With this strategic partnership, Moderate’s cutting-edge nutritional solutions will be available on EatFit, HRX by EatFit, and Great Indian Khichdi, across all locations serviced by EatFit on Swiggy and Zomato. This enables Moderate’s products to penetrate further among health-conscious consumers across India. Moderate-Carb Cutter and Moderate - Happy Gut Probiotic Powder are designed to support overall health and wellness, catering to various dietary needs and preferences.

Ankit Nagori, Founder, Curefoods, said, “This partnership represents a significant step forward in making nutritional products more accessible to consumers across India. By combining EatFit’s extensive reach with Moderate’s innovative products, this collaboration is set to make a substantial impact on the health and wellness of many. Together, we strive to create a positive impact in the lives of our customers.”

Moderate's products have been clinically tested and validated by leading institutions, including All India Institute Of Medical Sciences (AIIMS), to ensure their efficacy and safety. The first of its kind in India, Moderate-Carb, Sugar & Calorie Cutter is a 100% plant extract blend that blocks up to 40% of calories derived from complex carbohydrates and processed sugars and reduces hunger pangs & cravings by keeping blood sugar levels balanced without excessive post-meal spikes and crashes while promoting satiety. The Moderate-Happy Gut Probiotic Powder contains the world's most researched and clinically validated strains, proven to aid gut health, metabolic health, weight management, and overall digestive health.

Dr. Lalitha Palle, Co-Founder of Moderate, said, "We are thrilled to partner with EatFit, a leader in healthy food delivery, to offer our clinically tested nutritional products to a wider audience. This collaboration aligns with our mission to provide innovative, science-backed solutions that support overall health and wellness."

Moderate products are recommended for individuals aged 18 and above. Pregnant or nursing women, individuals with chronic health conditions like renal or hepatic insufficiency or those using heavy diabetic medication, are advised to consult a healthcare professional before using these products.

About EatFit 

EatFit is one of India’s largest healthy food platforms housed under Curefoods - a leading Indian cloud kitchen player. The company serves a wide range of bold & fun food options while retaining the honest, clean, and healthy aspect that EatFit has been known for since 2017. EatFit currently operates 150 cloud kitchens. Headed by Ankit Nagori, co-founder of Curefit, EatFit aims to expand the reach and acceptance of healthy food across the nation. At its core, the company is all about making healthy food fun, delicious and honestly Indian. In 2020, EatFit was hived off as a separate entity from Curefit. Since then, it has been operating under the umbrella of Curefoods, to capitalise on India’s growing cloud kitchen segment. 

About Moderate

Moderate is a doctor-founded brand dedicated to offering nutritional products that are rigorously tested and validated to ensure optimal health benefits. Their flagship products, the Moderate-Carb Cutter and Moderate-Happy Gut Probiotic Powder, have been developed using the latest scientific research to support various aspects of health and wellness.

Digital Competition Bill: Experts Raise Concerns About Bill’s Impact On MSME And Startup Competitiveness

* Small and Medium Businesses highlight their perspective on technology and competition frameworks

The India SME Forum hosted a roundtable in New Delhi on Wednesday, for stakeholders to discuss the implications of India's proposed Digital Competition Bill on MSMEs and startups. The participants expressed concerns over the impact of the Bill on MSMEs competitiveness in India and global markets, and the potential detrimental effect on their ability to serve consumers. The Bill’s intent is to regulate and provide a level playing field however it is being used as a measure to solve commercial disputes between private parties. This can derail the vibrant MSME ecosystem in India.

“With large companies moving out of China, India is blessed with a great opportunity to gain from the exodus. Any regulation like DCB will act as a stumbling block in the country’s efforts to attract FDI, and promote global competitiveness of MSMEs,” said Mr. Vinod Kumar, President, India SME Forum (ISF), expressing concerns emanating from the DCB proposal.

MSMEs gathered at the roundtable, highlighted the essential role of supportive regulations in facilitating the growth of small businesses. Experts emphasised the necessity of policies and regulations that empower MSMEs, enabling them to digitise and sustainably utilise digital services, thereby maintaining competitiveness in domestic and export markets.

Aditi Madan, Founder, Director, Blue Pine Foods Pvt Ltd., expressed concerns regarding over-regulation of online markets, stating, “Regulations which are probably meant for larger companies will also have an indirect effect on startups and SMEs, and these unintended consequences will upset the innovation and certainty in the ecosystem. Proposals like the DCB are likely to further impede and compound existing issues faced by product startups looking to access new markets, accessing capital and scale their operations.”

Insights were shared from an upcoming survey-report examining the potential implications of India’s proposed Digital Competition Bill for Indian businesses deploying digital tools as a key driver of business growth and expansion. Preliminary observations from the study show that 82.2% of business users believe that digital services have enhanced their ability to compete effectively in markets, while 74.3% of business users believe that digital services have enhanced their ability to differentiate themselves from their competitors. 

Acknowledging MSMEs' and startups' substantial contribution to India's macroeconomic goals, participants urged the Government to continue with a light-touch regulatory approach that enables innovation and experimentation. Noting the relatively limited extent of consultation on the Digital Competition Bill, participants emphasised the importance of extensive and inclusive pre-legislative consultations, that educate MSMEs and startups on the implications of policy and legislative proposals, while promoting greater involvement by MSMEs and startups. 

Members of ISF, the largest association of SMEs in India, were not only concerned with the immediate impact of the Bill, but also felt that it could be a deterrent for India’s Viksit Bharat goals. 

In his closing remarks, Mr. Kumar, urged the Government to carefully consider the potential impact of new policy proposals on MSMEs and startups, ensure adequate representation of the concerns and perspectives of SME stakeholder groups in pending policy proposals such as the proposed Digital Competition Bill, and take note of the unintended but harmful consequences of untested frameworks. 

Quotable Quotes from the discussion

Vinod Kumar, President, India SME Forum: There is a sense of unease among MSMEs regarding the Draft Digital Competition Bill, as they are unsure about its potential impact. In India, the majority of enterprises are micro, with only a tiny fraction being medium or small enterprises. Many MSMEs are concerned about the proposed ex-ante regulations, especially those related to personal data usage. They argue that data is crucial for services like predictive analysis and targeted advertising, which are vital for their business operations. Furthermore, provisions like the unbundling of digital products could make essential services unaffordable for smaller businesses. The bill appears to be similar to international regulations. The Indian ecosystem is vastly different from that of developed economies, and reliance on international models could be detrimental to the country's MSMEs.

Amit Agrawal, Founder at DSI Robotics: The Digital Competition Bill is somewhat of a safety paradox and can result in an undue compliance burden for small businesses, as has happened in the past. For instance, the government's decision to prohibit digital platforms from saving credit card information, while intended to prevent fraud, created significant challenges for SMEs. A firm managing multiple subscriptions now faces the burden of manually authorizing payments each month. This shift from automated to manual payments is highly inconvenient, causing delays and potential missed payments. This highlights a paradox where measures aimed at increasing security inadvertently hinder business operations.

Aditi Madan, Founder, Director, Blue Pine Foods Pvt Ltd: The policy priorities, particularly in the digital market economy, needs to ensure that SMEs have access to relevant information. The focus should be on directly engaging with SMEs during policy creation to ensure their needs and perspectives are adequately addressed. 

Debashish Das, Founder & CEO, ElenchusHR Solutions: Overly stringent regulations could adversely impact businesses by forcing them back to manual processes reminiscent of the 70s and 80s. This would increase costs and reduce operational efficiency. India's unique economy, with its diverse cultural and regional nuances, cannot adopt a one-size-fits-all approach based on foreign laws. Policies must consider the specific needs and inputs of the MSME sector to be effective and beneficial.

TiE Unveils Its 9th TiE Global Summit (TGS) As The Olympics of Entrepreneurship With Theme Of “Putting Entrepreneurship First”

Key Highlights:

Vision to make this one of the World’s Largest Celebration of Entrepreneurship - expected to attract 25,000 entrepreneurs from over 50 countries, 10,000+ youth entrepreneurs, 5000+ startups, 750+ investors, 300+ corporates, 150+ speakers

The 4-Day Event is scheduled for December 9-11, 2024, at Bangalore Internation Exhibition Center (BIEC) Bengaluru, and December 12th in Mysore.

The event will feature a rich array of global leaders, investors, successful entrepreneurs, policy & ecosystem actors sharing their learnings and perspectives, diverse set of master classes, investor pitch sessions mentoring clinics, networking lounges, etc.

Event will also feature exciting initiatives like VentuRISE Challenge, Futurepreneurs Conclave, TGS100 Awards, TiE Women Global Pitch Competition, Global #SpiritofTiE Awards, Global Hackathons, etc. all aimed at inspiring thousands of entrepreneurs on their journeys towards a larger impact.

TiE Bangalore, the pioneering chapter of The Indus Entrepreneurs (TiE) in India, today announced the 9th Edition of TiE Global Summit (TGS) 2024, scheduled for December 9th to 11th at the Bangalore International Exhibition Center (BIEC), and December 12th in Mysore. This edition coincides with TiE Bangalore’s 25th anniversary, symbolizing a collaborative effort with other TiE chapters in Karnataka, and supported by the Digital Economy Mission (KDEM) and the Government of Karnataka as the Host State Partner. Under the theme "Putting Entrepreneurship First," the summit aims to create an inclusive entrepreneurial ecosystem, democratizing opportunities and uniting the global entrepreneurial community. The summit offers a significant opportunity, akin to the Olympics of Entrepreneurship, to experience the vibrant energy of innovation and entrepreneurship in Bangalore. TGS24 is expected to host over 25,000 delegates including 5000+ startups, 750+ investors, 300+ corporates, 150+ speakers, 10,000+ Futurepreneurs, from across India and more than 50 countries.

The announcement took place at a curtain-raiser event in Bengaluru, graced by esteemed dignitaries including Shri Priyank Kharge, Hon’ble Minister for IT & BT and RDPR, Government of Karnataka; Shri MB Patil, Hon’ble Minister of Commerce & Industries and Infrastructure, Government of Karnataka; Shri. Sharath Bachegowda, Chairman KEONICS; Dr. Ekroop Caur, IAS, Secretary to Government, Dept of E, IT, Bt, Science & Technology, Government of Karnataka; Ms. Gunjan Krishna, IAS Commissioner for Industrial Development, Director for Industries and Commerce, Government of Karnataka; Shri Prashanth Prakash, Chairman of Karnataka Start-up Vision Group and Partner, Accel; Shri BV Naidu, Chairman of Karnataka Digital Economy Mission (KDEM); Shri Amit Gupta, Chair, TiE Global; Shri. Sanjeev Gupta, CEO, KDEM; Shri Jagdish Patankar, Executive Chairman of MM Activ Sci-Tech Communications, Ms. Lakshmi Pratury, Founder CEO INK Talks/TGS Curation Partner and Shri Madan Padaki, Chair of TGS24 and President of TiE Bangalore.

The dignitaries unveiled the TGS24 Logo – “Ekam Flame of Entrepreneurship” bringing in the elements of entrepreneurial energy and the unified purpose of “Putting Entrepreneurship First”.

Madan Padaki shared key details about TGS 2024, including the theme, dates, venue, speaker and sponsor information.  TGS 2024 will host a range of events , challenges and networking events like Future Sparks: Leaders in Conversations, TGS100 Challenge that brings together the brightest Emerging Start-ups globally, Rural Student Innovator Conclave, TiE Global Women Pitch Competition & Conclave , Futurepreneurs Conclave, VentuRISE Challenge by Invest Karnataka, EdVentures for Academia, Cultural Entrepreneurship Conclave at Mysuru, #SpiritofTiE Global Awards,  various sectoral Tracks across Deeptech, AI, Biotech, Agritech, Fintech, Climate-tech,  MSMEs, Circular Economy, Social Enterprises, Start-up Ecosystems, Family Offices, Incubators/Accelerators, Mentoring Clinics & Pitch Sessions Networking Evenings, Art & Music Experiences and a large pavilion that will host booths and learning zones.

The event also announced that registration for the 2nd edition of the VentuRISE Global Startup Challenge, an initiative by the GOK, is now open for global start-ups. VentuRISE ’24 will concentrate on Electronics System Design and Manufacturing (ESDM), Auto/Clean Mobility, and Aerospace & Defence. This challenge offers startups a platform to tackle industry issues and connect with investors/corporate accelerators.

“We are committed to fostering a thriving startup ecosystem. VentuRISE ’24 is a testament to our dedication to supporting innovative entrepreneurs who are driving the future of manufacturing and allied sectors. The Startup Challenge initiative aims to position Karnataka as a global innovation hub, promoting the state as a preferred destination for startups in manufacturing and allied sectors by facilitating connections with investors and industry partners. We are thrilled to participate with TiE Global for the VentuRISE '24 event and we are committed to making this year's event even bigger and better by introducing new initiatives, expanding mentorship programs and attracting a wider pool of global investors.”, said Shri M.B. Patil, Hon'ble Minister for Large and Medium Industries

Prashanth Prakash, Chairman of Karnataka Start-up Vision Group said, “This event presents an immense opportunity, akin to the Olympics of Entrepreneurship, for start-ups and ecosystem actors worldwide to bask in the vibrant energy of innovation and collaboration. The initiatives launched here, coupled with invaluable networking and learning opportunities, will propel our entrepreneurs to new heights, ensuring a lasting and positive impact on our economy. By having investors from across the globe to experience the vibrant stories of Indian entrepreneurs with their innovative business models, we have an opportunity to position ourselves as the leader of innovation in the world”

At the event, Madan Padaki, Chair of TGS24 and President of TiE Bangalore stated: “We are thrilled to bring TiE Global Summit 2024 to Bengaluru & Karnataka. Our chosen theme, 'Putting Entrepreneurship First,' aligns with our mission to foster a thriving entrepreneurial ecosystem world-wide. This summit is more than just a gathering; it’s a catalyst for ideas to meet opportunities, and to ignite possibilities that can shape the future of our societies. We are delighted to be supported by the Government of Karnataka as the State Host Partner and look forward to working together with the entire ecosystem in taking our model of entrepreneurship to the next orbit”

Registrations for TGS 2024 are now open. Participants are encouraged to register now to secure their early bird offers at this prestigious summit, which will feature a comprehensive schedule of master classes, keynote addresses, mentoring clinics, investor pitching sessions and networking opportunities. For more information and to register, visit: https://tgs2024.org/   

Photo Captions:  BV Naidu, Chairman of Karnataka Digital Economy Mission (KDEM); Ms. Gunjan Krishna, IAS Commissioner for Industrial Development, Director for Industries and Commerce, Government of Karnataka; Shri Madan Padaki, Chair of TGS24 and President of TiE Bangalore; Shri MB Patil, Hon’ble Minister of Commerce & Industries and Infrastructure, Government of Karnataka; Shri Priyank Kharge, Hon’ble Minister for IT & BT and RDPR, Government of Karnataka; Dr. Ekroop Caur, IAS, Secretary to Government, Dept of E, IT, Bt, Science & Technology, Government of Karnataka; Shri Prashanth Prakash, Chairman of Karnataka Start-up Vision Group and Partner, Accel; Shri Amit Gupta, Chair, TiE Global; Shri Sanjeev Gupta, CEO KDEM unveiling the TGS24 Logo at today’s “9th edition of TiE Global Summit” curtain raiser event, Taj West End, Bengaluru.