Author: Neel Achary

Demand for office space split on fundamentals and pricing

India, 16 June 2023 – Colliers’ latest Global Insights & Outlook – Office Report reveals the significant divergence in office investment volumes, pricing, and appetite globally, caused by the varying return to office approaches post-COVID, underlying fundamentals of city functionality, approaches towards ESG-compliance differences and how markets have reacted to shifts in inflation and interest rates.

In India, the office sector continues to dominate institutional investment inflows garnering over 44% in total investments in last five years (2018-22). Despite economic uncertainties and global slowdown, investments in office sector remained unabated during Q1 2023 as well, at USD0.9bn, up 41% YoY. India remains a preferred market for global investors for office investments driven by growth opportunities in tier 1 & tier 2 cities, attractive & stable yields and strong demand in established markets. However, limited availability of quality office assets at attractive valuations has pushed investors towards creation of new platforms and joint ventures (JVs) with developers for development of new projects across larger markets. While there could be some slower fund deployment in short term amidst uncertain and cautious environment, India’s economic resiliency, supportive government policy and improving business environment will enable to maintain its position as an attractive market for global investors in the long term.

“Amidst global recalibrations of office space driven by cost control, hybrid work culture, and business slowdown, markets like India continue to benefit due to lower costs with quality of assets, talent pool availability, and increased institutionalized framework. Although global sentiments have reduced the Investor activity in India, institutional buyers remain bullish over the medium to long term as the underlying demand for Office space remains strong and markets like India benefit from the shift in office market dynamics.” says Piyush Gupta, Managing Director, Capital Markets & Investment Services.

Institutional inflows in office sector (USD bn) – India

2018

2019

2020

2021

2022

Q1 2023

Investments in office sector (USD bn)

3.2

2.8

2.2

1.3

2.0

0.9

Share in total investments

55%

45%

46%

32%

41%

55%

Source: Colliers

Asia Pacific Highlights

· Melbourne and Tokyo stand out on the path to value stability and recovery along with Copenhagen, Toronto and San Francisco at the global level.

· While core offices remain a top pick for investors in APAC and EMEA, substantiated by current office investment volumes, there is a very different narrative in North America.

· Office occupancy levels in APAC are averaging 80%, and office density remains high. In Europe, occupancy is back to 65% and in North America, rates are at 50% with signs of improvements across key cities.

· Both Seoul and Singapore recorded net absorption 30% above historical averages with both markets recording falling vacancy rates over 2022, contrary to most major markets globally.

· Although limited sales transactions occurred over Q1 2023, we anticipate market sentiment will recover as an expected peak of the interest rate cycle comes to fruition over H2 2023 and equips investors and vendors with clarity and confidence regarding asset values and the cost of borrowing across the region.

In APAC and EMEA, vacancies sit at a steady 8-10% and office occupancy rates have largely returned to pre-pandemic levels. Office occupancy in APAC is averaging 80%, and office density remains high – a function of short commute times and ease of getting back into the office (Exhibit 1). Meanwhile, occupancy is back to 65% on average across Europe. In North America, rates are sticking at 50% but are showing some signs of early improvement, as longer travel times and more comfortable home working environments support this dynamic. Coupled with weak occupier demand, vacancy rates in North America have climbed to 16%+ on average, and landlord incentives to support rents continue to be stretched.

In India, office demand has recovered faster despite persistent global headwinds in the form of economic disruptions & geopolitical tensions. 2022 saw 50.3 mn sq ft of office leasing across top 6 cities, which was the highest in any year.. Q1 2023, however started on a cautious note with a total leasing of 10.1 mn sq ft across top 6 cities, 19% lesser than same period last year. Technology sector led leasing during Q1 2023 at 22% share, closely followed by Flex space at 20% share. Flex spaces have emerged as a compelling alternative to traditional office spaces for occupiers, due to their ability to support occupiers’ evolving hybrid strategies.

“On account of robust office space absorption seen during 2022, office occupancy levels across the top 6 cities saw strong recovery & currently stand at 84%, well ahead of 80% in APAC and 65% in Europe. High occupancy levels indicate healthy recovery and stability of the Indian office market, despite persistent global demand headwinds. Going ahead, demand for office spaces will continue to remain strong, as offices will continue to support occupiers’ changing workplace needs. As demand improves towards the latter part of the year, higher occupancy levels will likely push rentals northwards in 2024, which remained largely rangebound for the last 2-3 years,” says Vimal Nadar, Senior Director and Head of Research, Colliers India.

At the same time, prime rents across Europe are increasing as the demand for higher-quality space, particularly for assets that are ESG compliant, is significant. “We are seeing pressure to repurpose space that doesn’t meet contemporary demands as a growing proportion of buildings face obsolescence,” said Luke Dawson, Head of Global and EMEA Capital Markets at Colliers. “This is driving a shift in value-add plays across key markets, especially where high importance is placed on ESG, such as the UK and Australia.”

Capital values have been negatively impacted in the past 12 months, as interest rate hikes have forced yields/cap rates out. While most locations are nearing the end of the rate hike cycle, further price adjustments on the capital side are expected. The longer-term economic outlook for each city is generally very positive, but rates of growth vary markedly. Overall, this means some markets stand out as having a first mover advantage on the path to value stability and recovery.

As Hybrid working remains the mainstay for occupiers in India, relevance of physical office space remains intact. Occupiers are focusing on optimal locations, high-quality amenities, and well-designed fit-outs as they look to create an enriching experience for their employees. Focus on ESG complaint buildings also remains priority for occupiers as they look to achieve greater operational efficiency and reduce energy consumption in order to meet their net zero goals. Developers are increasingly taking cognizance of the evolving needs of occupiers and are integrating smart technology and sustainable infrastructure in their workspace offerings. Going forward, office space will continue to upgrade their workspaces through smart technologies such as the Internet of Things (IoT) and predictive analytics for cost optimization, carbon reduction and better space utilization. As ESG becomes vital to occupiers, green financing will become an integral part of investors’ strategy.

Digital Delights for Dad: Top Tech Picks for Father’s Day

This Father’s Day, show your dad how much you appreciate him by treating him to the latest and greatest tech products that will enhance his life and make him feel extra special. From cutting-edge gadgets to smart home devices, we’ve curated a list of the best tech gifts that will pamper your father and demonstrate your love and gratitude in a truly modern way. Whether he’s a tech aficionado or simply enjoys the convenience and innovation that technology brings, these carefully selected items are sure to make this Father’s Day unforgettable. Get ready to spoil your dad with the ultimate tech indulgence!

BenQ LED Monitor Light- ScreenBar – Introducing BenQ’s must-have monitor light series, the perfect gift for Father’s Day to enhance your dad’s work-from-home experience. Designed to improve productivity and provide optimum eye protection, these LED clip desk lamps are specifically crafted to seamlessly operate with most monitors. With the integrated ambient light sensor and desktop dial, adjusting the brightness level is a breeze. Your dad can simply touch the dial to select the ideal brightness for his workspace, ensuring there’s no reflecting glare off the screen. Whether he prefers warm or cool lighting, the color temperature can be easily customized to suit his preferences. BenQ’s monitor light lamps- ScreenBar and ScreenBar Plus, are exclusively available on Amazon. Surprise your dad this Father’s Day with this thoughtful gift, price starting at Rs.9,990 and help him create an ergonomic and comfortable work environment.

JBL Tune 710BT Headphone – The JBL Tune 710BT is a sleek and stylish wireless headphone that delivers excellent sound quality and comfort. Powered by Harman, the headphones feature 40mm dynamic drivers that produce deep and powerful bass, while the JBL Pure Bass Sound technology delivers a high-quality audio experience. The headphones have a foldable design, making them easy to carry, and the battery life of up to 50 hours ensures that they last long. The JBL Tune 710BT also has a built-in microphone and intuitive controls, allowing you to manage music playback and calls with ease. The headphones are compatible with Google Assistant and Siri, providing hands-free control of your device. If you’re looking for wireless headphones that offer great sound quality and comfort, the JBL Tune 710BT by Harman is a perfect choice. These headphones are available on Amazon for Rs.5,999.

Ideacam S1 Series- BenQ IdeaCam Supreme series, the perfect gift for Father’s Day to enhance your dad’s virtual communication and content creation experiences. This series includes two impressive webcams: the S1 Pro and the S1 Plus, both designed to elevate video conferencing and streaming to new heights. The S1 Pro, priced at INR 19,990, is a true gem packed with advanced features. With its 4K Ultra HD resolution, every detail comes to life, delivering stunning visuals that make your dad stand out during online meetings or streaming sessions. The HDR technology ensures vibrant colors and contrasts, adding depth to the visuals for a more immersive experience. Thanks to AI-powered noise cancellation, crystal-clear audio is guaranteed, allowing your dad’s voice to be heard without any distractions. For those seeking high-quality video experiences at a more affordable price, the S1 Plus, available at INR 17,990, is an excellent choice. It offers many of the same exceptional features as the S1 Pro, ensuring professional-grade video and audio performance without breaking the bank. Your dad can enjoy remarkable video clarity and clear sound, enhancing his virtual meetings and content creation endeavors.

Logitech G203 Lightsync – Logitech G203 Lightsync is a gaming mouse that offers excellent performance and customization options. With its high-precision sensor and advanced button tensioning system, the G203 provides gamers with exceptional accuracy and responsiveness, making it a reliable tool for intense gaming sessions. The Lightsync technology enables the mouse to display up to 16.8 million colors and sync with other Logitech G devices, creating an immersive and personalized gaming experience. The G203 is also lightweight and comfortable to use, with a classic and simple design that suits both left and right-handed gamers. The Logitech G203 Lightsync is an ideal choice for gamers looking for a budget-friendly gaming mouse that doesn’t compromise on performance or style. The Logitech G203 Lightsync is available on Amazon for Rs.2,000.

BenQ EH620 Projector- Upgrade your dad’s meeting room this Father’s Day with the BenQ EH620, the ultimate smart projector designed for corporates. With its cutting-edge features and built-in Windows 11 Operating System and Intel Processor, this lamp-based projector takes hybrid meetings to a whole new level. The EH620 is a game-changer when it comes to corporate meetings. It enables a PC-less and wireless arrangement, eliminating the need for complicated setups and tangled cables. Your dad can enjoy a laptop-like experience right from the projector itself, making it easier to start meetings without any hassle. The projector comes pre-loaded with meeting apps like Microsoft Edge, Google Chrome, Google Meet, and Skype for seamless collaboration. Being a Full HD projector, your dad can also watch his favourite sports team play or watch movies with vibrant colors and stunning clarity. This versatile projector surely is the perfect choice for your father and his virtual meetings.

HP Z3700 Wireless Optical Mouse – The HP Z3700 Wireless Optical Mouse is a sleek and stylish peripheral that offers reliable wireless connectivity and precise optical tracking. Its compact design and low profile make it a great option for users on the go or those with limited desk space, while its contoured shape provides comfortable use for extended periods. The mouse features a 1200 dpi optical sensor that ensures smooth and accurate movement, and its wireless connectivity is powered by a reliable 2.4 GHz wireless connection, which delivers a range of up to 30 feet. Additionally, the mouse includes a convenient on/off switch and a battery life indicator to help users manage power usage. Overall, the HP Z3700 Wireless Optical Mouse is a solid choice for anyone looking for a functional and stylish wireless mouse. You can get the HP Z3700 Wireless Optical Mouse at ₹1,499 on Amazon.

Globus Infocom unveils the advanced & new range of Interactive display

New Delhi, 16th June 2023: GLOBUS INFOCOM LIMITED, a Leading EdTech brand in India proudly announces the launch of its latest generation of interactive displays. The brand has pioneered and advanced Interactive Displays in an unprecedented way providing users with maximum accessibility. Introducing the next generation of innovations, Globus Interactive Display has taken learning to a whole new level by introducing a whole new range of Interactive Display G-classic series making classrooms more personalized, interactive, collaborative, and convenient.

The new generation of innovative interactive displays will facilitate learners with a wide variety of options empowering users with the most enriched, developed, and user-friendly Interactive Displays furthering Globus’ mission to enable accessibility for all.

It has a wide- variety of advanced USPs that make it essential for fulfilling the modern digital requirement.

The most recent developments include:

Ensure immersive viewing experience

Learners retain knowledge better when viewing videos in class. The available 4K HDR resolution in Interactive Display will ensure high picture and video quality. Additionally, the updated features also incorporate an eye-protection mode preventing eyestrain caring for vision.

Increase Efficiency with Split-Screen

Incorporating split-screen in technology will help users to perform multitasking as one single screen can be further split into 2 different screens. Harnessing the power of spilt-screen teachers can simultaneously ensure visibility by exploring different topics.

Designed Pedagogically oriented tools

The available AI pen for intelligent images search, gamified concepts, inbuilt more-app sections, geometry, subjective tools create brainstorming sessions for students. Multiple writing tools available such as colour pen, eraser, undo, and redo function provide more accessibility to users.

Enhanced Security Features

Now advanced to Android 11, access the device with more powerful controls. Furthermore, users can disable and enable an inbuilt security feature at any time to lock USB ports, applications, and screens.

Intelligent Gesture Control

Designed keeping user comfort in mind, our scratch-free Ultra HD displays provide maximum accessibility with “Intelligent Gesture Control”. Three-finger for floating menu & Five-finger for turning screen into sleep mode make everyday sessions easier.

Kirandeep Dham, CEO, Globus Infocom Limited, stated “With continuous commitment and complete determination in turning quality education accessible, we are aiming to innovate more. The introduction of our new range of displays is a step towards offering a comprehensive advanced solution to address diverse needs and applications of educational institutes.

With this step forward, Globus Infocom’s commitment to accessibility, innovation and quality education continues to transform the education industry

XS.com Announces Global Sponsorship of the Traders Fair Hanoi, Vietnam

Asia, 16th June 2023 – XS.com, the multinational global FinTech and financial services provider, has today proudly announced its position as the Global Sponsor of the Traders Fair Hanoi, Vietnam, organized by FINEXPO, the international trade show organisers for financial services. This highly anticipated event will take place on 24th June 2023 at the InterContinental Hanoi Landmark72.

The Global Multi-Asset Broker will have two speakers holding talks during the event including James Park, Senior Business Development Manager (Japan) who will be discussing the best way to diversify an investment portfolio and Gywen Goh, Business Development Team Leader (APAC), who will be covering a presentation about what steps to take in order to choose the most suitable broker.

AndreeaIlies, Global Head of Events at XS.com, expressed her enthusiasm about the sponsorship, stating:

“It brings us great joy to announce our prestigious partnership with the FINEXPO group as the Global Sponsor of the Traders Fair Hanoi, Vietnam – the highest sponsorship tier available. This partnership signifies XS Group’s unwavering commitment to growing the adoption of digital investments across the Asian continent. We are on a relentless mission to drive forward innovation and growth in the dynamic and ever-evolving sector of online trading across the globe but especially in Asia. This esteemed exhibition provides XS Group with the unparalleled opportunity to forge meaningful connections with a diverse range of stakeholders, reaffirming our resolute commitment to driving the industry forward.”

ShorenaJejeia, CEO of FINEXPO and organiser of the Traders Fair Hanoi, Vietnam, also expressed excitement about the sponsorship, stating:

“We are thrilled to announce that XS.com, a prominent market leader in the Fintech and financial services industry, has joined us as our esteemed Global Sponsor. The Traders Fairs are a series of financial events that have been running since in 2018 across Asia and Africa – our summits aim to foster awareness and promote the culture of implementing the latest financial technology across the globe, while emphasizing the importance of safe and responsible investing and trading practices. Our events also keep fostering next-level networking opportunities with renowned global brands and influential figures within the industry. We are dedicated to guiding our attendees, sponsors and partners in intelligently and securely exploring the diverse investment opportunities available in the online trading sphere.”

XS.com has chosen to continuously support the Traders Fair’s events as they set themselves apart with their exceptional approach, characterized by engaging sessions encompassing educational seminars and workshops led by highly esteemed mentors.

As the Global Sponsor, XS.com will have a prominent presence throughout the Traders Fair, showcasing their comprehensive suite of services and expertise in the Financial Services industry.
XS.com has been joining exhibitions around the world since the start of the year including in the UAE, Mexico, the Philippines, Malaysia, Thailand, and Jordan.

Vegas Mall Hosts a Star-Studded Evening with the Cast of “Carry on Jatta 3”

Vegas Mall, Delhi’s most popular shopping and entertainment destination of Delhi, hosted a grand event, featuring the prominent stars of the “Carry on Jatta 3.” The primary attractions of the evening were the charismatic duo Gippy Grewal and Sonam Bajwa, who graced Vegas Mall to promote their upcoming blockbuster movie.

The event witnessed an electrifying atmosphere as fans and movie enthusiasts flocked to Vegas Mall to catch a glimpse of their favourite stars. Gippy Grewal and Sonam Bajwa and the audiences’ favourite artists, Fazilpuria, Veer Sandhu, and Hashmat Sultana, delivered breathtaking performances that left everyone spellbound.

The event at Vegas Mall with the cast of “Carry on Jatta 3” left a lasting mark on the hearts of attendees. The electrifying performances, the infectious energy, and the opportunity to interact with their favourite stars created a truly memorable experience for the attendees. Vegas Mall continues to shine as the ultimate destination for entertainment and celebrity encounters.

Reflecting on the occasion, Mr. Ravinder Choudhary, Vice President of Vegas Mall, shared his thoughts, stating, “We were thrilled to host the cast of ‘Carry on Jatta 3’ at Vegas Mall. Gippy Grewal and Sonam Bajwa have a tremendous fan following, and witnessing the enthusiasm and support from the audience was truly overwhelming. The energy and performances by Gippy, Sonam, Fazilpuria, Veer Sandhu, and Hashmat Sultana were nothing short of extraordinary. We are proud to provide a platform for our visitors to connect with their favourite stars, further solidifying Vegas Mall as the ultimate entertainment destination.”

National Bank for Financing Infrastructure and Development raises Rs. 10,000 cr by issuance of listed bonds in maiden issuance

India, 16th June 2023: National Bank for Financing Infrastructure and Development (NaBFID) has raised INR 10,000 crore by issuance of listed bonds in its maiden issuance on Thursday. The issue received overwhelming response from the investors with bids of INR 23,629.50 crores. The infrastructure bonds were oversubscribed by approximately 4.7 times, against the base issue of INR 5,000 crores.

The unsecured non-convertible debt securities have been issued at an annualized coupon rate of 7.43 per cent for a 10 year-tenure. This is the largest debt issuance by an All India Financial Institution (AIFI) and is an indicator of the trust investors have placed in NaBFID. This deal sets a new milestone for bond issuances by financial institutions in India.

NABFID is a statutory body set up pursuant to the NABFID, Act, 2021 with the mandate of development of long-term non-recourse infrastructure financing in India and deepening of the bond market. The entire shareholding of the institution is held by the Central Government, which has invested equity of INR 20,000 crores and provided a grant of INR 5,000 crores. The institution, in less than its 1 year of its operations, has disbursed approximately INR 15,000 crore of loans.

NaBFID has received AAA credit rating from domestic credit rating agencies. NABFID has received in-principle listing approvals from both BSE and NSE, and the bonds are expected to be listed shortly.

SBI Capital Markets was lead advisor and Cyril Amarchand Mangaldas was the legal advisors for the issuance.

Mr. Rajkiran Rai G, Managing Director, NaBFID, said, “We are grateful to the investors for the overwhelming response received for our debut issuance. Infrastructure development is a priority for the nation and access to low-cost funds is imperative to achieve this objective. We are thankful for the support and guidance received from the Department of Financial Services, Government of India, RBI and SEBI. We are enthused by the support and look forward to continued contribution to the growth of infrastructure in India. I would also like to extend my congratulations to the team for this milestone achievement.”

Healthtech platform ‘WatchYourHealth’ onboards Former Abbott India MD – Mr. Ashok Nair as Co-Founder and Global Executive Director

Mumbai, 16th June, 2023: WatchYourHealth (WYH), a pioneering healthtech platform, proudly announces the appointment of Ashok Nair as Co-Founder and Global Executive Director. Mr Nair, former Managing Director of Abbott India, brings a wealth of expertise and visionary leadership to WYH, driving exceptional consumer engagement solutions and profitable growth.

With a distinguished career at Abbott India, Mr. Nair is a trailblazer in the healthcare industry, positioning WYH for unparalleled growth and market leadership. His remarkable achievements include turning around Abbott’s Primary Care business, outpacing the market by growing 1.2 times faster with 8% growth since 2017. As Co-Founder and Global Executive Director, Mr. Nair aims to expand WYH’s pharma business within India and globally.

“We are honored to welcome Mr. Ashok Nair to the WatchYourHealth family,” said Ratheesh Nair, Founder and CEO of WYH. “His illustrious tenure as the former Managing Director of Abbott India, coupled with his proven leadership abilities, will be invaluable as we forge ahead with our mission to revolutionize consumer engagement.”

Mr. Nair’s extensive experience spans therapy areas across acute, chronic, and consumer care. His appointment strengthens WYH’s commitment to assembling a world-class team. With Nair’s leadership, WYH is primed to deliver outstanding results, reshape consumer engagement, and make a lasting impact on the healthcare industry.

“The Covid adversity taught me that Pharma was ready for newer ways to do business. WatchYourHealth was a startup team that I had mentored and groomed to enable digital transformation into a traditional Pharma industry. The impact that they have brought in the Pharma sector in a short span of time made me realize that it was time to do it myself, rather than advising and guiding from the outside. WYH is attempting to build a full digital ecosystem to connect Healthcare providers to patients. India is at the cusp of a digital transformation that has already hit the Indian banking system like the UPI revolution,” said Mr. Ashok Nair, Co-Founder and Global Executive Director of WatchYourHealth.

Change food choices to increase chances of tackling global warming

 Action to protect the planet against the impact of climate change will fall short unless we reduce greenhouse gas (GHG) emissions from the global food system, which now makes up a third of man-made GHG emissions, a new study reveals.

The largest emission increase within food supply chains is triggered by beef and dairy consumption in rapidly developing countries, such as China and India, whilst emissions per head in developed countries with a high percentage of animal-based food declined.

The United Nations projects that an additional 70 percent of the current food demand will be needed to feed the world’s estimated population of 9.1 billion by 2050.

Publishing their findings today (15 June) in Nature Food, an international group of scientists led by the Universities of Groningen and Birmingham, say that the growth of the global population and rising demand for emission-intensive food are likely to boost emissions further.

“A global shift in diets, including reducing excessive intake of red meat and improving shares of plant-based protein – will not only reduce emissions but avoid health risks such as obesity and cardiovascular disease” stated corresponding author, Prof. Klaus Hubacek from the University of Groningen.

Another corresponding author, Dr Yuli Shan, from the University of Birmingham, commented: “The agrifood system drives global land use and agricultural activities – contributing to around one-third of global anthropogenic greenhouse gas. Population growth, expansion of food production, and an increase in animal-based diets are likely to further increase emissions and squeeze the global carbon budget.

The first author, Yanxian Li, a PhD student at the University of Groningen added that “Mitigating emissions at every stage of food supply chains from production to consumption is critical if we are to limit global warming. However, widespread and lasting diet shifts are very difficult to achieve quickly, so incentives that encourage consumers to reduce red meat or buy products with higher environmental dividends could help to reduce food emissions.”

Researchers analysed data linking emissions to consumers between 2000 and 2019, revealing that in 2019, food consumption in the five highest emitting countries, China (2.0 Gt CO2-eq), India (1.3 Gt), Indonesia (1.1 Gt), Brazil (1.0 Gt) and the USA (1.0 Gt), was responsible for more than 40% of global food supply chain emission.

Annual global GHG emissions associated with food increased by 14% (2 Gt CO2-eq) over the 20-year period. The substantial increase in consuming animal-based products contributed to some 95% of the global emissions rise, accounting for almost half of total food emissions. Beef and dairy contributed 32% and 46% of the increase in global animal-based emissions.

Consumption of grains and oil crops is responsible for 43% (3.4 Gt CO2-eq in 2019) and 23% (1.9 Gt CO2-eq) of global plant-based emissions respectively, whilst rice contributes to over half of the global grain-related emissions (1.7 Gt CO2-eq), with Indonesia (20%), China (18%), and India (10%) being the top three contributors.

Soybean (0.6 Gt CO2-eq) and palm oil (0.9 Gt CO2-eq) have the largest shares in global emissions from oil crops with 30% and 46%, respectively. Indonesia, the world’s leading consumer of palm oil, has the largest emissions from palm oil (35% of the global total in 2019), followed by Southeast Asia (13%), Western Europe (10%), and China (9%).

The study reveals considerable differences regarding emission patterns and the reasons behind these trends – classifiable as follows:

Countries with high per capita food emission levels and dominant livestock emissions (mainly from red meat) (North America, Australia, Latin America & Caribbean);
Developed countries which heavily rely on imports and outsource substantial amounts of food-related emissions (Japan and Europe);
Rapidly developing countries with substantial emission increase driven by rapid population growth or improved living standards (China, South Asia, Near East & North Africa); and
Countries with emission-intensive production, mainly with extensive land-use change activities (Brazil, Indonesia, and South and Central African regions).

The researchers also note that a series of trade policies are accelerating emissions through increasing food imports from countries/regions with emission-intensive production – for example, the EU’s Green Deal encourages less intensive agriculture in Europe and increasing imports of agricultural products from countries such as Brazil, USA, Indonesia, and Malaysia.

SBI General Insurance alerts customers to stay safe ahead of the Cyclone Biparjoy warning across the coast of Gujarat

Emergency toll-free number 1800 102 1111, SMS <CLAIM>to 561612, email customer.care@sbigeneral.in or the Claims Intimation Section on www.sbigeneral.in.

Ahmedabad, June 15^th, 2023: SBI General Insurance urges its customers to stay safe and take precautionary measures to safeguard their lives and protect their loved ones. The atmospheric depression in the Arabian Sea has intensified into “cyclonic storm – Biporjoy”. As per reports of the IMD (India Meteorological Department), the cyclone is presently travelling towards the coast of Gujarat and is likely to make a landfall on evening of 15^th June 2023 near Jakhau Port in Kutch district. In addition to heavy cyclonic winds, the cyclone may also cause heavy rainfall at Kutch region, Devbhumi Dwarka, Porbandar, Jamnagar, Rajkot, Junagadh and Morbi districts.

Amidst these heavy rains and adverse  situation, SBI General Insurance urges you to stay indoors and safe and also to protect your vehicles from any damage.

SBI General Insurance stands by its customers during these testing times. The team has set the standard operating process in motion and has set up a task force to manage queries and claims on fast-track mode. It is monitoring the incoming information and is equipped to respond to all the queries

Customers can intimate / register claim via various means:

1. Call the company’s toll-free number 1800 102 1111
2. SMS <CLAIM>to 561612
3. Send details on email: customer.care@sbigeneral.in
4. Visit Claims Intimation Section on www.sbigeneral.in

To avoid any delays in the claim settlement procedure, the Company has contacted a panel of surveyors. SBI General follows a process of ‘Express Claims’ settlement for losses of up to Rs. 10 lakhs for affected customers. Customers have experienced challenges and losses because of the floods and heavy rainfall, SBI General will waive the paperwork requirement wherever practicable. In the case of some smaller claims, immediate settlements will be offered with efforts to help those affected recovers. SBI General is devoted to assisting their customers and get them back on their feet as quickly as possible. Having invested in digital readiness and a thorough Business Continuity Plan, SBI General is well placed to help the customers when they need it the most.