Author: Team

Bengaluru Welcomes Victoria’s Secret with a Brand-New Store Opening

Bengaluru, India – 30/01/2024 – Apparel Group is thrilled to announce the opening of their second store in Bengaluru at Nexus Koramangala Mall. This launch marks the 12th Victoria’s Secret store in India, reinforcing the brand’s commitment to expanding its presence in strategic regions and strengthening connections with customers in major metropolitan markets.

Bengaluru, often called India’s “Silicon Valley,” seamlessly combines a rich cultural heritage with a vibrant cosmopolitan atmosphere. With its diverse population, global perspective, and appreciation for premium brands, the city offers an ideal setting for Victoria’s Secret to expand its legacy of luxury and retail innovation.

This new store is thoughtfully designed to deliver an elevated shopping experience, featuring a beauty-focused concept that highlights the brand’s signature fragrances, luxurious body care products, and exclusive gift sets. Shoppers can explore a curated selection of their most sought-after collections, including Bombshell, Bare, Tease, Very Sexy, and more, making it a must-visit destination for beauty enthusiasts in the city.

With an immersive retail environment, Victoria’s Secret ensures a seamless and luxurious shopping journey, allowing customers to discover the brand’s iconic beauty products and exclusive collections.

 Speaking on the occasion, Mr. Tushar Ved, President of Apparel Group India, shared, “The launch of our 12th Victoria’s Secret store in India marks an exciting milestone as we continue our journey to bring the brand closer to our customers. With every new store, our goal is to deliver a premium and immersive experience that connects with the local community while providing access to our iconic brands. We are delighted to expand into the vibrant city of Bengaluru and look forward to welcoming customers into this luxurious space”.

 Mr. Abhishek Bajpai, CEO of Apparel Group India, added, “Bengaluru is a key market for us, representing one of India’s fastest growing and most dynamic cities. By strategically expanding in South India, we are strengthening our connection with customers and bringing Victoria’s Secret’s world-class offerings closer to them”.

Avinya’25 and Vasudha Startup Challenge Champions Announced at Prestigious Energize India Event

New Delhi, January 2025: Minister of Petroleum and Natural Gas, Shri Hardeep Singh Puri, today announced the winners of two prestigious startup challenges – Avinya’25 and Vasudha – at a special ceremony held at ONGC headquarters.

 The announcement came at the conclusion of “Energize India: Catalyzing Growth Through Startup Innovation”, a high-powered conclave that brought together energy sector veterans, investors, and innovators.

 The winners of Avinya’25, India’s premier energy startup competition, was UrjanovaC Pvt Ltd. The runners up were Breathe ESG Private Limited, AgriVijay, Apeiro Energy and UGreen Technology.

 For Vasudha, the global startup challenge in upstream oil and gas sector, the winner was Latin Energy Partners Inc., Paraguay and the runner up was Ultrasound Process Consulting LLC, USA
These winning startups emerged from an intensely competitive field – Avinya’25 received 173 applications from across India, while Vasudha attracted global participation in crucial areas including seismic data interpretation, AI applications, and carbon capture technologies.

 The winners of the Hackathon were also announced with IIT (ISM) – Dhanbad emerging as the winner and IIT-Guwahati as the runner up.

 Addressing the occasion, Minister Shri Hardeep Singh Puri highlighted the pivotal role of PSUs under the Ministry of Petroleum & Natural Gas in fostering innovation through a Rs. 547.35 crore startup fund. Supporting 303 startups with Rs. 286.36 crore, these efforts propel India’s vibrant ecosystem of over 110 unicorns, creating transformative growth and jobs.

 Speaking on the diversification of energy supply sources, Shri Puri noted that India had already embarked on this path. “Earlier, we used to import from 27 countries; now we are sourcing from 39, with discussions underway with a few more,” he said. He emphasized that diversification provides strategic advantages by ensuring a broader geographical spread. “Our imports are guided by fundamental, self-evident principles: we will source energy from wherever it is available at the right price,” he added.

 Regarding the target of achieving 20% ethanol blending, Shri Puri highlighted that India has already reached at 19% blending. Expressing confidence in surpassing the target ahead of schedule, he revealed that discussions have begun on developing a roadmap beyond 20 percent blending.

 The day-long “Energize India” conclave featured thought-provoking panel discussions on identifying opportunities in the energy sector, leveraging emerging technologies, and accessing capital for energy startups. Industry leaders shared insights on how startups can contribute to India’s energy transition while maintaining the delicate balance between security, accessibility, affordability, and sustainability.

 Speaking at a panel discussion, Shri Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas said, “Fossil fuel is not going anywhere in India for the next 25 years. We have several terrabytes of seismic data on our open waters earmarked for exploration. I urge our bright sparks to think about developing solutions to mine through the data and contribute to hydrocarbon exploration efforts.”

 Shri S.C.L. Das, Secretary, Ministry of Micro, Small & Medium Enterprises, stated during the panel discussion alongside Shri Pankaj Jain, “We are trying to develop a system whereby we assess the maturity level of different startups so that the Ministry can cater to their needs in terms of regulatory compliance or access to capital, in collaboration with other central ministries, state governments and local governments.”

BITS Pilani Pioneers Sustainable Energy Innovation with New Advanced Research Centre

National, 30th January 2025: BITS Pilani, renowned for its dedication to fostering innovation is inaugurating an Advanced Research Centre for Sustainable Energy Technologies (ARCSET), a multi-campus Centre of Excellence focused on advancing clean energy solutions. This landmark initiative highlights the institution’s commitment to addressing global energy challenges through cutting-edge research and sustainable innovation. Additionally, ARCSET will concentrate on key verticals like Hydrogen Production, Storage and Utilization, Biofuels, Renewable and Alternative Energy and Carbon Capture, Utilization, and Storage (CCUS). This novel initiative is designed to accommodate innovative thinking and collaboration into clean energy technologies and solutions.

ARCSET is established as a Centre of Excellence to foster research and industry-academic collaboration. The centre’s goal is to provide scalable and affordable solutions to carbon emissions, improve energy security, and ensure equitable access to sustainable energy resources. Through numerous initiatives, it seeks to encourage sustainable, greener technologies and breakthroughs in India and globally.

The occasion was graced by Padma Bhushan Prof. J. B. Joshi, Chancellor of the Institute of Chemical Technology, Mumbai, who was the chief guest. Dr. Madhukar Garg, former Director of the Indian Institute of Petroleum and President of R&D Petrochemicals at Reliance Industries Limited, served as Guest of Honour. Prof. R. R. Sonde, Professor Emeritus of the Department of Chemical Engineering, shared the vision of ARCSET, with a focus on its potential to develop scalable technologies for channelling global energy challenges. The centre was championed by Prof Suman Kundu, Director, BITS Pilani, K K Birla Goa Campus who described ARCSET “as yet another diamond in the jewel crown of BITS Pilani in the Diamond Jubilee Year”.

Speaking on the occasion, Prof. Ramgopal Rao, Vice-Chancellor of BITS Pilani, said, “ARCSET embodies our dedication to tackling one of the major challenges of our times – global transformation towards sustainable energy. We are driving capacity building and advanced research with industry collaboration to enable these solutions that not only reduce carbon emissions but also ensure equitable access to clean energy resources”.

As a result of this centre, BITS Pilani is working on a technology platform that combines advanced tools, innovative processes, and skilled human resources to tackle some of India’s most pressing challenges. This center of excellence is focusing on eight key areas, including renewable energy, hydrogen, e-mobility, and the circular economy, and is partnering with industry leaders, start-ups, and policymakers to develop effective solutions. By utilizing techniques such as molecular modelling, AI-ML, and high-throughput experiments, projects like the Hydrogen Valley and research on CO+-to-methanol and water electrolysis are paving the way for scalable and sustainable advancements. These initiatives will enhance collaborations between academia, industry, and start-ups, accelerating India’s journey towards net-zero emissions.

UST and Experian Forge Strategic Partnership to Revolutionize Product Development with AI

Bengaluru | Mumbai, India, January 30, 2025 – UST, a leading digital transformation solutions company, and Experian, a global data and technology company, have announced a long-term strategic partnership that will provide financial organisations with the opportunity to quickly innovate and improve their products using advanced AI technologies.

The partnership will combine UST’s cutting-edge technology with a range of Experian’s products, initially focusing on Experian’s Aperture Studio. The UST GenAI Sandbox is a secure, compliant, and innovative platform designed to help businesses experiment with and safely test AI technologies. It not only enables AI-driven advancements to be incorporated into products without extensive rebuilding, but the platform also seamlessly integrates into a businesses’ existing cloud infrastructures.

Experian Aperture Data Studio combines self-service data quality and Experian’s globally curated datasets in an intelligent data quality and enrichment platform and will now be integrated into UST’s technology to enhance its data quality capabilities. This integration will enable more informed decision-making and improved overall business performance.

As part of the strategic partnership, UST will serve as the exclusive reseller of Experian’s Aperture Data Studio. This will enable UST to combine its domain expertise and strong client relationships with Experian’s industry-leading data quality solutions, delivering unparalleled value to customers. UST will also utilise its GenAI Sandbox to support Experian in adding additional features to their products and platforms.

For more than eight years, UST and Experian have fostered a robust and lasting partnership built by trust, flexibility, and teamwork. Across the globe, more than 600 UST employees support Experian, operating in all six of its regions: the United States, the United Kingdom, Asia-Pacific, and Europe, the Middle East, and Africa.

“This collaboration is focused on speed, flexibility, and customer-centric innovation, setting a new benchmark for delivering cutting-edge financial solutions. As a global data and technology company, we are constantly seeking ways to drive innovation and provide customers with the ability to reduce time to market so they can adapt swiftly to changing market demands. Our partnership with UST provides that by giving a space for businesses to rapidly develop and integrate new AI-driven solutions safely and now with further data quality assurances,” said Andrew Abraham, Global Managing Director, Data Quality, Experian.

“We have partnered with Experian on a global scale for a number of years and this marks a significant milestone in our journey to drive innovation in the financial sector. By combining Experian’s data expertise with our unique technology, we’re creating an environment that fosters experimentation, enabling faster product development and delivering greater value to clients,” said Praveen Prabhakaran, Chief Delivery Officer, Managing Director for UK & Europe, UST.

FICO Report: A Third of Indian Consumers Lose Money to Scams in Real-Time Payment Systems

NEW DELHI— January 29— 2025 

A new survey by global analytics software leader FICO highlights the growing threat of scams in India’s real-time payments (RTP) ecosystem. The ‘2024 Scams Impact Survey: India’ reveals that one in three Indian consumers reported losing money to scams via RTP, with 34% paying for goods, services, or investments that they never received. Nearly half of Indian consumers (45%) identified improved fraud detection systems as the most critical action banks can take to enhance scam prevention.

The survey reveals a sharp rise in both the frequency and severity of scams in India, alongside alarming trends in financial losses.

“While fewer Indian consumers reported losses in 2024 compared to 2023, the percentage of high-value losses—those exceeding ₹800,000 (USD$9,200)—doubled from 2% to 4%,” said Dattu Kompella, managing director in Asia for FICO. “While 56% of losses were relatively small, under ₹50,000 (USD$580), these amounts can still be devastating for many households.”

The findings emphasize the urgent need for proactive fraud detection and customer engagement as scams increasingly impact Indian consumers. 60% reported exposure to messages from scammers, and 54% said friends or family members had been scammed.

RTP continues to gain traction in India, with 98% of consumers having sent and 97% having received RTP transactions. Additionally, 79% plan to increase their RTP usage in the next 12 months, far surpassing the global average of 44%.

“RTP usage will continue to grow and diversify as more transactions happen among consumers, businesses and public sector entities,” added, Kompella. “Yet, there is a pressing need for education on scams and the risks tied to irrevocable payments. Banks must leverage automation, clearly communicate risks and provide robust scam defences to protect Indian consumers.”

The survey also highlights that Indian consumers strongly believe banks should play an active role in preventing scams. In fact, 80% stated they would view their bank more positively if it intervened in real time to prevent a suspected scam payment.

“A bank’s ability to combat scams hinges on advanced technologies like AI-powered analytics, contextual decisioning and real-time customer engagement,” concluded Kompella. “These tools enable targeted warnings and automated actions, such as step-up authentication and transaction suspensions, to enhance scam prevention and protect customers effectively.”

FICO’s survey was conducted in 2024 by an independent research company. 1,000 Indian adults were surveyed, along with approximately 11,000 other consumers across 14 countries exploring their experiences regarding RTP usage, scams, and their banks’ scam management capabilities.

Viraj Profiles at Davos: A Landmark INR 12,000 Crore MoU to Drive Maharashtra’s Growth

The 55th World Economic Forum at Davos witnessed a landmark moment with the signing of a Memorandum of Understanding (MoU) between the government of Maharashtra and Viraj Profiles. A strategic move for accelerating the socio-economic progress of the state. This agreement, worth INR 12,000 crore,is poised to create employment opportunities and infrastructure development for the people ofMaharashtra.

A Vision for Growth and Collaboration
Under the visionary guidance of Hon’ble Chief Minister Shri Devendra Fadnavis, and Minister of Industries Shri Uday Samant, the Memorandum of Understanding was signed with the goal of establishing an Integrated Stainless Steel Plant in Palghar district. In addition to boosting India’s steel and metals industry, the project would provide 3,500 jobs in the tribal area of Maharashtra.

The discussions in Davos, between the Maharashtra Government and Mr. Neeraj Raja Kochhar, Chairman, Viraj Profiles, strengthened a shared commitment to enriching local communities and speeding up local development. The Chief Minister assured full government support for the project, advocatingrobust government-private sector cooperation.

What This MoU Means for Viraj Profiles

The MoU represents a milestone accomplishment for Viraj Profiles, aligning with the company’s objective of driving industrial advancement and sustainable development. The proposed Palghar plant will increase production capabilities, putting the company in a position to provide a wider range of products and solidify its position as a leading manufacturer of stainless steel products catering to industries in India and across the globe.

Budget 2025: Experts Weigh In on Key Expectations

Amit Sharma, Managing Director & CEO, Tata Consulting Engineers

Tata Consulting Engineers (TCE) views the FY 2026 Budget as a key opportunity to advance India’s infrastructure, energy transition, and technological innovation. We expect continued capital investment in water supply, metro systems, and climate-resilient infrastructure, along with support for Smart Cities, Transit-Oriented Development, and affordable housing.

A stronger push for renewable energy, including offshore wind, green hydrogen, and small modular reactors (SMRs), coupled with grid expansion, viability gap funding, and single-window approvals, will accelerate the energy transition. Strengthening nuclear energy through Bharat Small Reactors (BSR) and a contingency reserve for disaster management will bolster long-term energy security.

Modernising ports, promoting shipbuilding, and developing industrial clusters for semiconductors, EV batteries, and clean technologies will boost self-reliance and export competitiveness. Coastal industrialisation and inland logistics hubs will further drive efficiency and reduce costs. Smart infrastructure, digital twins, AI-driven mining, and integrated water management will be crucial for sustainability.

Skill development, gender diversity in engineering, and incentives for public-private partnerships will help bridge workforce gaps. Enhanced climate finance, including green bonds, R&D funding for energy storage, and low-interest loans for critical projects, will support India’s journey towards decarbonisation, innovation, and global leadership in engineering and consultancy.

Shaunak Amin, the Managing Director of Alembic Pharmaceuticals Limited

“The upcoming budget offers a crucial opportunity to position the Indian pharmaceutical industry as a global powerhouse, aligning with its projected growth from $55 billion to $130 billion by 2030 and further to $450 billion by 2047. To achieve this, a strategic focus on reducing reliance on imports through enhanced domestic production of Active Pharmaceutical Ingredients (APIs) is imperative. With nearly 70% of APIs currently imported, primarily from China, targeted policy measures and financial incentives are essential to bolster local manufacturing capabilities and ensure pharmaceutical self-reliance.

Equally important is the need for increased allocation toward research and development, a cornerstone of innovation in the sector. Encouraging public-private partnerships and investing in shared research infrastructure can provide the much-needed impetus for cutting-edge drug development and clinical research. Investments in the upgradation of National Institutes of Pharmaceutical Education and Research (NIPERs) to global standards will further establish India as a leader in pharmaceutical innovation.

Policy rationalization in areas such as export incentives and streamlined customs processes will be vital to maintain India’s dominance in the global supply chain, which currently accounts for 20% of the global pharma market, including a 40% share in the U.S. generic drug demand. Addressing affordability and accessibility through measures such as rationalizing taxes on life-saving drugs and medical equipment will also play a critical role in improving domestic healthcare outcomes.

With these interventions, the budget can set the stage for the Indian pharmaceutical sector to not only meet its ambitious growth targets but also drive global healthcare advancements, solidifying its reputation as the ‘pharmacy of the world’ while ensuring equitable access to high-quality medicines for all.”

 Ashish Singhal, Co-founder, CoinSwitch

“The Virtual Digital Asset (VDA) industry in India has immense potential to contribute to the nation’s digital economy. To fully harness this opportunity, the upcoming Budget provides a crucial moment to refine taxation policies, fostering both growth and compliance within the sector.

We propose a reduction in the Tax Deducted at Source (TDS) on VDA transactions from the current 1% to 0.01%. This adjustment would significantly ease compliance challenges and promote market transparency while ensuring the tracking and tracing of transactions and boosting tax revenues. Additionally, we recommend raising the TDS applicability threshold from INR 10,000/50,000 to INR 5,00,000. This would protect small investors and traders from undue tax burdens, ensuring fair treatment across the board.

To further support the industry’s growth, we advocate for aligning the taxation of VDA income with other asset classes and removing the current discriminatory treatment. Allowing taxpayers to set off or carry forward losses, as permitted under capital gains provisions, would establish parity and create an environment for innovation.

We are hopeful that the government will recognize the VDA industry’s potential and take steps toward balanced and progressive policies that enable its growth.”

 Devam Sardana, Business Head, Lemonn

In the last budget, there was a dual impact of STT increase and LTCG increase (on listed shares) on the users with an increase in trading costs as well as impact on profitability of the users. Given that the revenue generation would have significantly increased with STT, this can potentially be used to revert the LTCG to 10% in order to ensure even higher market participation and incentivise long-term investment which is critical for the users and the capital market stability. This can also address reduction in the flight of capital from India towards global markets and potentially contribute to rupee appreciation as well.

Ganesh Sonawane, Founder and CEO of Frido

“India’s startup ecosystem is a thriving hub of innovation, and we hope that the Union Budget 2025 reflect its potential. Startups, particularly those focusing on health-focused innovations, stand to benefit greatly from policies that streamline GST processes, introduce R&D tax incentives, and provide easier access to funding could ignite a wave of innovation, empowering manufacturers and startups to meet the increasing demand for wellness products. Encouraging startups to scale manufacturing for global markets will also be crucial in reinforcing the Make in India for the world initiative. With the right support, entrepreneurs can position India as a global hub for wellness and ergonomic solutions, showcasing the country’s ingenuity and innovation on the world stage.”

Amit Goyal, Regional Managing Director, South Asia, PMI

“As the global economic focus shifts towards Asia, including India, there will be an increasing demand for professionals equipped with the skills to plan, manage, and execute large-scale projects across various industries. In India, this demand will be particularly pronounced given the country’s vast size and the scale of its developmental initiatives. A workforce proficient in project  management will be vital for India as it seeks to accelerate growth and become the world’s third-largest economy.

Therefore, in the upcoming budget, it is imperative for the government to acknowledge the central role that project management professionals will play in India’s ascent, akin to their impact in other nations over recent decades.

Building a workforce adept in managing teams and ambitious, large-scale projects necessitates the implementation of policies that provide talented young individuals with access to project management programs. Currently, around 50% of Indians aged 15 to 35 require upskilling to achieve full employability, and many among them possess the potential to excel in project management. Facilitating easier access to training will cultivate a professional workforce well-versed in the intricacies of project management and leadership. Such a workforce will be crucial to the success of numerous forthcoming projects, including those in renewable energy, where India ambitiously targets sourcing 50% of its electricity from non-fossil fuel sources by 2030, and logistics, set to unfold over the coming decades.

A budget that prioritizes the training of young Indians in project management is not only essential for their professional advancement but also crucial for India to achieve its aspiration of becoming a leading global nation.”

Giridharan Natarajan, Co-Founder & CEO, MVPRockets

“Budget 2025 represents a critical moment for technological innovation, with a strong emphasis on elevating India’s research and development landscape. We are advocating for higher tax deductions and government grants specifically targeting emerging technological domains like artificial intelligence, quantum computing, and blockchain, which are pivotal for our nation’s global technological positioning.

The startup ecosystem requires transformative policy interventions. Tech leaders are unanimously pushing for a simplified tax regime and extended tax holidays, drawing inspiration from successful models in Singapore and the United States. These reforms are essential to nurture entrepreneurial potential and create a more conducive environment for technological startups.

Recognizing the global technological landscape, there’s an urgent need to boost AI and cybersecurity initiatives. These domains are crucial for ensuring India remains competitive on the international stage, protecting our digital assets, and maintaining technological sovereignty.

Skill development is another space that remains a cornerstone for our tech-driven future. Comprehensive investments in workforce training programs will be critical in preparing our human capital to navigate and lead in an increasingly complex technological ecosystem, thereby securing India’s position as a global innovation hub for the next decade and possibly the next century.”

 Alok Mittal, Co-founder & MD – Indifi Technologies

 “The Indian NBFC sector continues to develop, creating diverse opportunities within the financial landscape. Despite this remarkable growth, NBFCs and MSME sectors face unique challenges, including liquidity constraints, operational hurdles, and evolving regulatory requirements. To address these, we need harmonization in provisions related to Recovery and Taxation, and diversified domestic funding sources for NBFCs. For MSMEs, improvement in credit flow through digital lending should be ensured. Empowering Account Aggregators by ensuring comprehensive GST record availability, relaxing data control obligations of REs for value-added LSPs governed under the Digital Personal Data Protection Act, and allowing NBFC-NBFC Co-lending under CLM2 are key steps that can strengthen the MSME ecosystem.”

Venkatesh Mudragalla, Co-founder & COO, Jeh Aerospace

 “India’s aerospace manufacturing sector has made significant strides over the past year, highlighting its potential as a global leader. The 2025 budget should focus on increasing R&D investments to drive innovation in propulsion systems, advanced materials, and automation. Tax incentives and collaborations between the private sector, academia, and research institutions are essential to accelerate progress. Establishing dedicated aerospace hubs with state-of-the-art infrastructure will support end-to-end production and foster startups and SMEs. A “National Aerospace Manufacturing Policy” can provide a roadmap for sustainable practices, technology transfer, and local capacity building. Skill development programs in advanced manufacturing, AI, and robotics will equip a future-ready workforce. By promoting green aviation technologies like electric propulsion and lightweight materials, India can align its growth with global sustainability goals while strengthening its position in the global aerospace value chain.”

 Madhav Krishna, CEO and Founder, Vahan.ai

 2025 is heralded to be the age of AI Agents. This will open up a lot of opportunities for a growing economy like India. The government should prioritise investment in research and development, focusing on key areas like AI and Machine Learning. While India has been among the largest investors in AI over the past five years, with investments of over $16 billion, we are significantly behind the US (over $320 billion) and China (over $120 billion). The Government shall hopefully make investments in the digital and physical public infrastructure required to build AI for Bharat and make specific indicators and guidelines on how these investments will be made, whether through public-private partnerships, dedicated research institutions, or other means. These directions strongly indicate India’s commitment to harnessing AI’s potential for inclusive growth. By taking these steps, the government can sow the initial seeds for a thriving domestic AI ecosystem, fostering innovation and ensuring responsible development of this transformative technology.

 ON GIG ECONOMY

Gig work is no longer a temporary job – for as much as 86% of gig workers in India, it has now become a full-time employment opportunity. With the growing expanse of Quick Commerce, the demand for gig workers is only expected to grow. The Gig workers segment is a rapidly expanding sector in the Indian economy that deserves recognition for the important impact it plays in the Indian economy. In 2025, gig worker requirements are expected to almost double.

The introduction of the Code on Social Security in 2020 was a promising step towards securing the livelihoods of India’s growing gig workforce. Transparency regarding the implementation status and a concrete timeframe would provide much-needed clarity and reassurance to millions of workers in the gig economy. The 2025 budget could enhance allocations towards the sector to balance the livelihood requirements and the growing industry needs.

Priyadarshi Mohapatra, Founder & CEO

 As we approach the Union Budget 2025, we hope the government will strongly focus on healthcare accessibility and innovation. Strengthening rural health infrastructure, adopting technology-driven solutions, and prioritizing preventive care are essential steps to address the growing disparities in healthcare delivery. Increased budgetary allocations in these areas can significantly improve outcomes for underserved communities. Additionally, introducing tax incentives for healthcare startups and streamlining regulatory frameworks would encourage innovation and foster greater efficiency in the sector.

 Hari Subramaniam, Founder and CEO

 In the last few years, India’s health tech sector has seen tremendous growth, however, the time-consuming and non-transparent processes of CDSCO approvals have become a significant bottleneck. To truly realize the potential of ‘Make in India’ in healthcare, the government needs to address these challenges by simplifying the regulatory processes, subsidizing approval costs for startups, and creating more validation centers. Additionally, the 18% GST on AI-driven healthcare solutions needs to be reconsidered, as it hampers the affordability of cutting-edge technologies that can reduce infrastructure costs and improve outcomes, especially for the government, as India’s largest healthcare provider. By reducing these entry barriers and fostering a more supportive environment, we can empower Indian innovators, curb imports, and establish India as a leader in affordable and efficient healthcare technologies.

Vinay Chhabra, Co-Founder & Managing Director, AceCloud

“The year 2024 brought in profound changes to India and world as AI reshaped the world as we knew it. India, in particular, emerged as a promising hub for AI and GPU advancements. To maintain this upward trajectory, it is essential to invest in the country’s technological infrastructure, and a forward-thinking, tech-driven budget is the key to achieving this. We look forward to strategic initiatives that go beyond traditional tax incentives. These could include a dedicated fund to drive AI research and innovation, enhanced allocations for the IndiaAI mission, and incentives to bolster domestic manufacturing of GPUs and high-performance computing components.

India’s growing digital economy requires robust cloud and data infrastructure. Incentives for establishing data centers and edge computing facilities will play a critical role in meeting this demand. Additionally, sector-specific programs aimed at startups and SMEs, particularly to facilitate access to affordable GPU-powered computing, can act as catalysts for their growth and innovation.

Further, we believe that the workforce of the future will depend on targeted skill development programs. We expect collaborative efforts between the government, private sector, and academia to upskill professionals in AI, cloud computing, and related domains. This will not only bridge the skill gap but also empower India’s talent pool to leverage next-gen technologies effectively.

At AceCloud, we are optimistic about the government’s forward-thinking approach and remain committed to collaborating on initiatives that will position India as a global leader in AI, digital innovation, and technological excellence.”

Sachin Jain, Country Head at ETS India & South Asia

“As India prepares for the Union Budget 2025-26, it is imperative to prioritize strategies that empower the youth and enable them to compete on a global stage. Strengthening workforce readiness through skill development and language proficiency initiatives will be essential for India to cement its position as a global talent hub. The focus should be on fostering equitable access to high-quality education and assessments that prepare students and professionals for international opportunities.

The government’s continued push towards internationalizing Indian higher education institutions (HEIs) under the National Education Policy has opened significant avenues for collaboration. The upcoming Budget presents an opportunity to further these efforts by creating streamlined pathways for global talent exchange, simplifying admissions for international students, and promoting India as a destination for high-quality education.

Additionally, fostering public-private partnerships to scale regional testing infrastructure and aligning skill-building programs with global benchmarks can create transformative outcomes. With strategic investments and forward-looking policies, this Budget can lay the groundwork for a more inclusive and globally competitive workforce, positioning India as a leader in the global knowledge economy.”

PK Agarwal, Dean, University of California Santa Cruz Professional Education

“As a leading voice in global academic excellence, the University of California, Santa Cruz Professional Education, rooted in Silicon Valley’s innovation ecosystem, commends the Government of India’s visionary initiatives, including NEP 2020 and its commitment to digital transformation. The Union Budget FY 2025-26 presents a pivotal opportunity to enhance education funding, foster dynamic industry-academia collaborations, and integrate transformative technologies like AI and IoT into mainstream learning. These efforts align with our shared mission to nurture inclusive, future-ready talent, drive sustainable growth, and reinforce India’s position as a global knowledge leader.”

 Aritra Ghosal, Founder & Director, OneStep Global

“As we approach the Union Budget 2025-26, we anticipate measures that will further strengthen India’s education landscape and position the country as a global leader in talent mobility. Expanding financial support for students pursuing international education, such as reducing tax collection at source (TCS) rates and increasing subsidies, can empower students to access world-class learning opportunities abroad. At the same time, streamlining regulatory frameworks to attract foreign universities to establish campuses in India will create globally competitive, affordable education options domestically.

Additionally, fostering robust international collaborations and enhancing access to financial aid are crucial steps to bridge existing gaps and ensure that Indian students and institutions can thrive on a global stage. By prioritizing education funding and accessibility, the government has the potential to create a transformative ecosystem that aligns with India’s aspirations of becoming a knowledge economy and a preferred destination for international academic partnerships.”

Sripal Jain, CA, CPA, Co-Founder and Global Instructor at Simandhar Education

“The Union Budget 2025 is a pivotal opportunity for the government to further strengthen India’s position as a global leader in accounting and finance. With the rising international demand for accounting professionals, particularly in light of global workforce shortages, targeted measures can bridge the skills gap and enable our workforce to excel on the global stage.

The government’s focus on simplifying taxation and financial systems has been instrumental in driving growth. Extending this vision to accounting education by reducing GST on certifications like CPA, CMA, and EA and introducing subsidies for skill development programs can make globally recognized qualifications more accessible. Such measures will empower professionals to align with international standards and meet the evolving needs of the global market.

Additionally, incentivizing the adoption of technology-driven processes in accounting, including AI and data analytics, can enable India’s accounting workforce to take on more complex roles and cater to emerging trends in automation and compliance. This budget is a chance to foster an accounting ecosystem that supports growth, innovation, and global mobility. By prioritizing education and technology in the accounting domain, the government continues to demonstrate its vision and leadership in empowering India’s youth to drive global economic progress and position India as a global powerhouse in finance and accounting.”

Abhijit Zaveri, Founder and Director, Career Mosaic

“As we approach the upcoming budget announcement, we are optimistic about its potential to unlock new opportunities for international student mobility. India’s study abroad sector is witnessing significant growth, and we anticipate initiatives that foster greater collaboration between Indian and international universities. The development of GIFT City, for example, has already shown promise in creating new avenues for academic exchange and research. This initiative and a budget that prioritizes global education could significantly enhance cross-cultural learning and bolster India’s leadership in STEM fields. A forward-looking budget will empower India’s vibrant youth, positioning the country at the forefront of international academic collaboration.

Furthermore, we expect the government to implement measures that make international education more accessible and affordable. Targeted scholarships for students from Tier 2 and Tier 3 cities, tax benefits for families supporting overseas education, and streamlined visa processes are crucial steps in enabling more students to pursue their dreams of studying abroad. By addressing these needs, the budget will support individual aspirations and contribute to India’s long-term economic and intellectual growth on the global stage.”

Ganesh Kohli, Founder of IC3 Movement

“While previous Union Budgets have made significant strides in academic infrastructure and skilling initiatives, career guidance is yet to be fully integrated as a core function within secondary education. Recognizing the vital role of career counseling in supporting students’ academic outcomes, mental health, and well-being, this gap must be addressed. The National Education Policy (NEP) 2020 rightly emphasizes counseling as a key component of the educational framework, and the Ministry of Education’s UMMEED guidelines deserve recognition for their focus on student mental health and preventing self-harm, particularly in high-stress academic settings. UMMEED’s emphasis on training teachers, staff, students, and parents to recognize signs of distress is an important step in supporting students.

Looking ahead to the Union Budget 2025-26, I am hopeful that we will continue to see a concerted focus on embedding career guidance within the fabric of India’s education system to achieve our vision of Viksit Bharat 2047. This should include equipping educators with the tools to guide students in making informed career decisions, thus enhancing their academic performance and mental well-being. By integrating career guidance into the educational experience, we can ensure that students receive a stress-free environment that prioritizes their holistic development, preparing them to navigate their futures successfully, and contributing to the development of a skilled, confident, and future-ready workforce for the country.”

Krishan Mishra, CEO, FPSB India

“As we approach the Union Budget 2025-26, it is crucial to address the evolving financial needs of individuals across income groups and life stages. First, providing tax relief, especially for the middle-income segment, is essential. A tax-free slab up to ₹15 lakhs would be a significant step towards enhancing disposable income and easing financial stress. Additionally, the 30% tax bracket, which often burdens higher-income earners, should see reform to ensure fairness and inclusivity.

Insurance, too, must shift from being viewed merely as a tax-saving tool to a life-saving financial safety net, which aligns with its true purpose. Similarly, longevity finance should gain attention. With an aging population, we must develop innovative financial products curated for individuals post-retirement, ensuring they have security and stability in their later years.

To foster a financially empowered nation, I urge the Finance Minister to encourage citizens to create their own one-page financial budgets immediately after the Union Budget announcement. This exercise can help individuals align their goals with the new policies and promote better financial planning.

Lastly, achieving ‘Viksit Bharat 2047’ is only possible when financial literacy becomes a cornerstone of our national agenda. Without education in managing money, individuals risk letting their finances control them, hindering their progress. We hope the upcoming budget takes bold steps toward strengthening financial awareness and inclusion across the nation.”

Saurabh Arora, Founder & CEO, University Living

“In the Union Budget 2023, the government introduced significant changes to the Tax Collected at Source (TCS) system under the Liberalized Remittance Scheme (LRS), impacting Indian students aspiring for international education. The TCS rate for remittances exceeding Rs. 7 lakh per annum was increased from 5% to 20%, adding a considerable financial burden on families already navigating high education costs. With over 1.3 million Indian students studying abroad in 2023, contributing a staggering US$60 billion in outward remittances—a figure expected to surpass US$70 billion soon—it is evident that the student community plays a vital role in global remittance flows.

To support students and their families, the government should consider targeted measures in the upcoming Union Budget. First, increasing the provision of collateral-free loans by PSU banks for university education, along with expanding access to other collateral-based loans, can provide much-needed financial relief. Second, remittances sent back to India by students who eventually secure global employment will rise significantly, alleviating fears of trade imbalances in the long term.

Given the immense economic contribution of Indian students abroad, reducing TCS rates for educational remittances or offering tax rebates on education loans would not only ease their financial burden but also encourage more students to pursue quality education globally. Such reforms would align with India’s vision of becoming a global knowledge economy while reinforcing its position as a key player in the international talent ecosystem.”

Anish Srikrishna, CEO, TimesPro

“The forthcoming Union Budget presents a crucial opportunity to bolster private sector participation by integrating EdTech into the online and distance learning ecosystem within higher education, paving the way for transformative policies.

A forward-looking approach could allocate funding for emerging disciplines such as Artificial Intelligence (AI), Machine Learning (ML) and other cutting-edge fields. Subsidising course fees for both freshers and professionals would encourage greater participation in lifelong learning and upskilling. Such initiatives, when offered through premiere institutions like IITs and IIMs, would foster an inclusive and competitive workforce. Aligning these measures with national missions like ‘Make in India’ and ‘Skill India’ would reinforce India’s global leadership in innovation and manufacturing. Investments in upskilling across technological and non-technological domains are key to advancing the vision of Viksit Bharat.

Reducing GST on EdTech services to 5% or eliminating it would make education more affordable, broadening access to upskilling programmes and engaging diverse learners.

Recognising and accrediting short-term, stackable micro-credential programmes from EdTech providers for academic credits would bridge skill gaps and boost employability. Similarly, subsidising professional development courses for faculty would raise teaching standards, aligning institutions with global benchmarks. By implementing these measures, the Union Budget can cultivate a skilled, future-ready workforce, driving India’s sustained growth and global leadership.”

Ganesh Sonawane, Founder and CEO of Frido

“India’s startup ecosystem is a thriving hub of innovation, and we hope that the Union Budget 2025 reflect its potential. Startups, particularly those focusing on health-focused innovations, stand to benefit greatly from policies that streamline GST processes, introduce R&D tax incentives, and provide easier access to funding could ignite a wave of innovation, empowering manufacturers and startups to meet the increasing demand for wellness products. Encouraging startups to scale manufacturing for global markets will also be crucial in reinforcing the Make in India for the world initiative. With the right support, entrepreneurs can position India as a global hub for wellness and ergonomic solutions, showcasing the country’s ingenuity and innovation on the world stage.”

Aji Nair, CEO at Mirah Hospitality

“As we approach the Union Budget 2025, the F&B sector looks forward to measures that address key challenges such as rising food inflation, operational costs, and the intricate tax structures on alcohol and aerated beverages that impact profitability. A progressive framework that fosters innovation, simplifies policies, and enables sustainable growth will be pivotal for the industry’s success.

The restaurant sector specifically urges the restoration of the GST Input Tax Credit, which would significantly ease operational expenses and enhance efficiency.
Additionally, revisiting the GST notification on commercial leases under the Reverse Charge Mechanism is essential to reduce financial burdens. With these steps, the sector can focus on innovation, customer experiences, and long-term growth.”

Shrishti Yadav and Shubham Godara, Co-founders at SCINQ Neurocosmetics

 “We are optimistic that the 2025 Union Budget will address critical areas like streamlining the GST framework to reduce complexities, particularly for the beauty and skincare industry, where multiple tax slabs create challenges. A more uniform and industry-friendly tax structure would ease operations and lower costs, benefiting both businesses and consumers. Support for the retail and e-commerce sectors through industry-friendly policies would further encourage growth and innovation, creating a more dynamic marketplace. These steps can help Indian beauty and skincare space to reach a broader audience and contribute to the overall growth of the economy.”

Ricky Vasandani, Co-founder and CEO of Solitario

“As India increasingly embraces sustainable luxury, this year’s Union Budget presents a valuable opportunity to encourage eco-conscious consumption. By fostering an environment that supports sustainable businesses and innovation, particularly in sectors like lab-grown diamonds, we can create a thriving ecosystem for luxury brands. Simplified regulations and forward-thinking policies will enable brands to flourish in an evolving market, helping India strengthen its position as a leader in environmentally responsible luxury while promoting a new era of conscious consumerism.”

Gregory Goba Ble, Head of UPS India and Director of MOVIN Express

“Investments in the logistics sector can support India’s trade goals, enhance economic efficiency and encourage MSMEs to scale-up.

To further strengthen India’s position in global markets, achieve the objective of National Logistics policy, and reach the export target of US$2 trillion by 2030, the thrust should be to simplify export compliance procedures and reduce regulatory cost for logistics players.

We hope to see measures to expedite e-commerce clearances and simplify cross-border online transactions. There needs to be increased budget allocation for the healthcare sector, which relies heavily on a robust and integrated logistics network. This will ensure efficient delivery of medical supplies and increase the sector’s overall effectiveness to cater to pharmaceutical and patient requirements.

In the earlier budgets, the Government has announced programs and initiatives to support MSMEs and we expect that to continue. We hope MSMEs, especially in the tier 2-3 cities, are further empowered with capital and technology adoption for them to compete in global markets.”

Arjun Bajaj, Director – Videotex on

“The television manufacturing industry has long advocated for the implementation of the PLI scheme and the development of a local ecosystem for critical components such as displays and semiconductors. Additionally, the current 28% GST on 40 inch and larger TVs, which are classified as luxury goods, should be re-evaluated, as these products have become essential. Removing this tax could stimulate sales and benefit the industry. Support for export promotion would unlock new business opportunities. Moreover, the focus should shift from solely expanding manufacturing capabilities to fostering R&D, product innovation, and enhancing operational and production efficiencies. It is also crucial that the government refrains from increasing the import duty on open cell components to help maintain the cost of the final product.”

Globe Textiles Rights Entitlement: A Key Driver of Growth and Prosperity

Globe Textiles, a leading name in the textile sector offers existing shareholders and new investors a unique opportunity to participate in the company’s steady growth journey by participating in its rights issue.

Below are the key details:

• Closing price: ₹ 3.84 closing price on 28th January 2025
• Right issue price: ₹ 3 per share
• Right Entitlement: 1 share for every 2 shares held
• Rights Issue Opening Date: January 24, 2025
• Rights Issue Closing Date: February 6, 2025
• Renunciation of Rights Entitlement Period: January 24, 2025 to January 31, 2025
• Record Date: January 17, 2025
• Rights Issue Size: ₹ 4,504 lakhs

 The Rights Issue shares offered at favourable price of ₹3 compared to the current market price of ₹ 3.84 closing price as on 28th January 2025, present an appealing opportunity for investors seeking to invest in this potential stock. Investors can buy any portion of Rights Issue at ₹3 per share, offering a strategic and cost-efficient way to gain exposure to a steady growing company.

The offer is already attracting significant interest, showcasing its strong appeal to investors. The subscription window for Global Textile RE (Rights Entitlement) will remain open from January 24 to January 31, 2025. The record date was January 17, 2025.

As a dynamic and resilient player in the textile industry, Globe Textiles has consistently showcased its adaptability to market trends and its commitment to delivering sustainable performance.

Speaking about the rights entitlement Mr. Bhavik Parikh, Chairman and Managing Director of Globe Textiles state “The Company is poised for growth in the upcoming year, focusing on key investments in infrastructure, research and development, product innovation, and market expansion to sustain its progress and enhance profitability. The Rights Issue offers investors great opportunity to increase their stake and be part of the Globe Textiles growth journey. This initiative underscores our commitment to delivering long-term value for all stakeholders while seizing opportunities for future growth.”

Globe Textiles aims to raise ₹4,504 lakhs from the Rights Issue. The funds to be raised are strategically earmarked for critical business objectives, including expansion initiatives, and enhancing working capital leading to further growth of the company. These measures are aimed at strengthening the company’s operations, fostering innovation, and paving the way for future growth.

For the six months ended September 30, 2024, the company achieved a remarkable Net Profit of ₹652 lakhs, surpassing the ₹575 lakhs recorded for the entire FY2023-24. Additionally, for the quarter ended September 30, 2024, the company reported a significant 102.20% increase in Net Profit, reaching ₹380.76 lakhs compared to ₹188.31 lakhs in the same period of the previous financial year. This robust performance underscores the success of the company’s strategic initiatives aimed at driving revenue growth, improving profitability and expanding its market share.

The above performance also highlights the positive impact of Globe Textiles’ strategic acquisition of a 70% stake in Globe Denwash, a company renowned for its expertise in sustainable denim washing and finishing. Globe Denwash employs advanced sustainable processing techniques that significantly reduce energy consumption and incorporate a Zero Liquid Discharge system to maximize water recycling this acquisition has significantly bolstered Globe Textiles’ presence in key international markets, including the UK, US, Europe, and other regions that prioritize partnerships with sustainability-driven organizations.