Author: Rabindra

Global Leaders in Sustainable Engineering Gather at NMIT for ERCAM-2024

Bengaluru, 14th December, 2024: Nitte Meenakshi Institute of Technology(NMIT), Bengaluru, hosted the fifth International Conference on Emerging Research in Civil, Aeronautical and Mechanical engineering, ERCAM-2024, on the theme – Materials, Mechanics, Structures, Systems and Sustainability. The conference brought together leading academicians, scientists, researchers and industry experts from across the world.

ERCAM-2024 aims to bring together specialists and practitioners from diverse fields including industries, research institutes, and academic circles. The conference will serve as a dynamic forum for exchanging knowledge about recent trends in materials, processes, and systems across Civil, Aeronautical, and Mechanical Engineering, emphasizing multi-disciplinary approaches. The conference had a successful start with active collaboration from academicians and researchers from University Putra Malaysia, Gazi University, and North Dakota State University, Fargo, USA.The event covered a wide range of topics, including civil engineering, hydraulic structures, transportation, robotics, advanced materials, and propulsion technologies. This collaborative approach highlighted the conference’s global perspective and commitment to interdisciplinary research.

While inaugurating the conference, Deepak N G Managing Director, Dassault Systèmes, India, said, “Technology is not going to take away jobs, instead, it’s going to create more opportunities. As industries evolve, we need to produce new products at a faster rate, and technology is merely an enabler to help us do things more efficiently. When I look at sectors like aeronautics, infrastructure, and mechanical engineering, I see immense potential for innovation. We are at a unique moment in India where we can implement new technology and build our nation’s infrastructure in ways that previous generations could not. The workforce of the future, like the students I’m speaking to today, has the strength and knowledge to think unconventionally and shape our country’s trajectory. Our talent is highly appreciated worldwide, and we are ready to take risks and innovate. I believe we can contribute to making India the third-largest economy by 2028 or 2030, and it’s the young professionals who will ultimately decide and drive this transformation.”

The keynote speakers and guests of honor included, Vamadev G.B, General Manager-Technical, Fosroc Chemicals India Pvt. Ltd, Dr. Harilal Bhaskar, Chief Operating Officer & National Coordinator, I-STEM, and Rami Reddy Konda, Head – MEP Services, WSP.

Dr. H C Nagaraj, Principal, NMIT, Dr.V.Sridhar, Prof. Emirates and Advisor, NMIT. Dr. Sudheer Reddy, Dean Academics at NMIT. Dr. Ramesh Babu, HoD, Mechanical Engineering, NMIT. Dr. Manjunatha L, HoD, Civil Engineering, NMIT and Dr. Srikanth H V, HoD of Aeronautical Department, NMIT were present during the occasion.

Speaking on the occasion, Dr. H. C. Nagaraj, Principal, NMIT, said, “At NMIT, we are dedicated to empowering emerging researchers by offering a supportive platform that enables them to discover and investigate promising research opportunities across various disciplines. Our goal is to promote a dynamic and collaborative academic environment where young scholars can connect, share insights, and develop innovative approaches to research. We are enthusiastic about the potential for innovative ideas and interdisciplinary collaborations that will emerge from this initiative, and we remain committed to nurturing the academic growth and potential of our students and researchers.”

On Day 2, which is 13th December, the conference will feature an engaging session of technical paper presentations by researchers. During these presentations, participants will have the opportunity to showcase their findings, innovative methodologies, and significant contributions to their respective fields. The session is designed to foster intellectual discourse, encourage knowledge sharing, and provide attendees with valuable insights into current research trends across various disciplines. As the day progresses, the conference will culminate in a formal valedictory ceremony, which will serve as a dignified and meaningful conclusion to the entire event, celebrating the academic achievements and collaborative spirit of the participants.

Adani Junior College Building Construction Begins with Bhumi Puja at Krishnapatnam

Nellore: 14th December, 2024: Adani Krishnapatnam Port Limited (AKPL) today did the Bhumi Puja ceremony to construct the Adani Junior College building at Krishnapatnam. The ceremony was attended by AKPL senior management, Mr. J. Srinivas Rao, Principal of Adani Junior College, community leaders of the R & R Colonies of AKPL. The event was also graced by students and teachers of Adani Vidya Mandir.

The new building, which will cater to students of Class XI and XII, is being developed to provide state-of-the-art classrooms, laboratories, and other essential amenities. The construction of this building is part of Adani Group’s continued commitment to improving the quality of education in the region and ensuring that students have access to world-class facilities for their academic and extracurricular growth. The college building will be constructed within the stipulated timeline and is expected to become a hub for academic excellence, further enriching the educational landscape of the region.

Speaking on the occasion, Adani Krishnapatnam Port management said, “Adani Group is committed to the promotion of education amongst the children through its social arm Adani Foundation in the vicinity of the Adani Business Facilities across India. At the Krishnapatnam site, where Adani Krishnapatnam Port is operational, Adani Foundation is imparting education to more than 1000 children from play class to Class XII through Adani Vidya Mandir and Adani Junior College under the mentorship of Dr. (Mrs.) Priti G Adani, Chairperson – Adani Foundation.”

SMFG India Credit and SMFG Grihashakti Recognized as Top 50 Companies with Great Managers for 2024

National, December 14, 2024: SMFG India Credit and SMFG Grihashakti have featured amongst the list of Top 50 Companies with Great Managers 2024. Both companies were also felicitated with the title ‘Companies with Great Managers™ 2024’. This recognition marks the company’s sixth consecutive win at the Great Manager Awards, an initiative of People Business.

Three leaders have been recognized among the Top 100 Managers, namely Mr. Navin Sethi, Mr. Krishnakumar R from SMFG India Credit and Mr. Sai Sasanka Batchu from SMFG Grihashakti. These leaders have been chosen from a pool of over 7,000 managers, cutting across industries and sectors.

Commenting on the recognition, Mr. Gaurav Terdal, Chief Human Resources Officer, SMFG India Credit, said, “This is our sixth consecutive win at the Great Manager Awards. Such recognitions validate our strategic approach to talent development and underscore our position as a forward-thinking financial services organization committed to excellence at every level. These achievements are a testament to our unwavering commitment to leadership excellence.”

Primus Partners Report: 76% of SMBs Prefer Online Ads Over Traditional Methods for Greater Effectiveness

National, December 14, 2024: India’s online advertising market, driven by increased internet access, smartphone usage, and shifting consumer behaviour, has become vital for MSMEs and startups (collectively Small and Medium Businesses (SMBs)). Complementing traditional media, it is projected to grow at a CAGR of 23.49%, with digital ad spending set to reach ₹62,045 crore by 2025. In the light of this, Primus Partners, in collaboration with India SME Forum and Broadband India Forum, have unveiled their empirical report titled, “Leveraging Online Ads for India – Unpacking the Impact of Online Ads on MSMEs and Startups”. The report was released by Shri Jitin Prasada, Hon’ble Union Minister of State for Ministry of Electronics and Information Technology and Ministry of Commerce and Industry, and Shri Anurag Singh Thakur, Hon’ble Member of Parliament. It revealed that 8 out of 10 SMBs find use of online ads more effective than traditional means. With this report, Primus aims to highlight the growing success of online advertising for MSMEs and startups in India.

As online advertising evolves, businesses are embracing innovative strategies to stay competitive in a dynamic market. The report highlights emerging trends in how SMB brands engage with their audiences, with 74% of respondents believing in the effectiveness of personalized ads in achieving their business goals. Additionally, 7 out of 10 SMBs now utilize more than two online advertising platforms to ensure a broader reach and consistent brand presence, catering to diverse user preferences. With the rise of regional language ads and platforms like ShareChat and YouTube, SMBs are tapping into untapped markets in Tier 2 and 3 cities. Meanwhile, the adoption of AI-driven targeting, big data, and short-form video content on platforms like Instagram and OTT services further optimizes ad campaigns, driving higher engagement, ROI, and lead generation.

While embracing these strategies, SMBs also look at various factors while choosing the Online Ad platforms. The report by Primus Partners highlights that 49% SMBs consider to opt platforms offering Return on Investment (RoI), which was followed closely by geographical reach with 47%. SMBs in India prefer moderate ad frequency to balance cost-efficiency and engagement, focusing on seasonal or ad-hoc campaigns during high ROI periods like festivals or sales. High-frequency campaigns are common in sectors like e-commerce, where ongoing customer interaction is crucial.

Commenting on the launch, Ramakrishnan M, Managing Director, Primus Partners, said, “MSMEs and startups, contributing 30% to India’s GDP, play a vital role in the nation’s economic growth. To boost their performance, these businesses can leverage the power of digital advertising, including AI and AI-related tools, which 69% of our surveyed SMBs found effective in achieving their business goals. Our research highlights that harnessing the full potential of online advertising requires policy reforms and industry strategies that address their unique challenges, foster innovation, and reduce barriers, ensuring sustained digital competitiveness.”

He further added, “To enhance SMB access to online advertising, affordable tools and platforms could also be provided through government-industry collaborations, offering subsidized or tiered pricing. Additionally, we feel a multi-stakeholder approach to regulatory frameworks is needed to ensure transparency, consumer protection, and inclusivity, while avoiding burdensome regulations.”

As India’s online advertising market continues to grow, it presents immense opportunities for MSMEs and startups to enhance their digital presence and drive business success. To fully capitalize on these opportunities, it is crucial that both industry and government work together to remove barriers, provide accessible tools, and foster a supportive regulatory environment. By embracing innovation and optimizing digital advertising strategies, SMBs can not only boost their competitiveness but also contribute significantly to India’s economic growth in the digital era.

IFSEC India Unveils Cutting-Edge AI and IoT Security Solutions Driving India’s Digital Security Evolution

New Delhi, 14th December 2024: The Indian security sector is rapidly transforming, driven by technological advancements and evolving threats. AI-powered solutions are revolutionizing security systems, while strategic partnerships are fostering innovation in critical areas like quantum technology and cybersecurity. With growing demand for advanced security solutions, the domestic market is expanding, positioning Indian companies as global leaders through their technological expertise and manufacturing prowess. Industry leaders gathered at IFSEC India 2024 to highlight the significance for innovation and collaboration in the security and fire safety industry.

With over 1.5 million security cameras across 15 cities and Delhi on track to install the targeted 2.8 lakh CCTV cameras, the demand for integrated systems is surging. Supported by associations, government stakeholders, and top players, IFSEC India reinforces the industry’s commitment to a secure and resilient future.

The 17th edition of IFSEC India organized by Informa Markets in India is currently underway from 12th – 14th Dec, is a premier event for the global security and fire safety industries. The event brought together over 300 leading security brands, featuring more than 5,000 products and solutions. From cutting-edge CCTV and video surveillance systems to biometrics, RFID, integrated systems, and perimeter security technologies, the expo showcased latest innovations shaping the future of security. With the Indian electronic security market expected to grow from USD 2.56 billion in 2024 to USD 7.36 billion by 2029, at a strong CAGR of 23.57%, IFSEC India serves as a key platform for exploring groundbreaking solutions and industry advancements.

Prominent companies such as CP Plus, Godrej, Hikvision, Prama, Seagate, Western Digital Realtime, TP Link, Adiance, , Hi Focus, , Trueview, eSSL, , Viewvision, Voltaic Cables and; and other key partners such as Alba Urmet, Alagtec, Optex, Panasonic, Perto, Syrotech, Toshiba and many more, showcased a comprehensive array of advanced products and solutions.

Mr. Shashank Sambyal, Zonal Head, North & East, Godrej Enterprise, said, “At IFSEC India, Godrej Enterprise is showcasing a range of security solutions, including CCTV cameras, entrance control systems, BDS products, and new electro fencing technology. The global security industry is valued at $120 billion, growing at 8% CAGR annually until 2030. As security becomes an essential focus for governments, institutions, and private sectors alike, the demand is set to increase exponentially in the coming years. Government regulations, like STQC, are strengthening industry standards, ensuring secure data management.”

Mr. M. A. Johar, President, Strategic Business, CP Plus, said “As part of our commitment to innovation, we’ve invested heavily in R&D, employing over 250 experts to focus on new analytics and solutions. This is crucial, as the market is evolving rapidly, and both partners and consumers need to stay updated on

emerging trends. The CCTV surveillance sector in India is currently valued at approximately ₹9,000 crore, with a significant 30% annual growth rate. The potential for further expansion is immense, and Indian brands are gaining global attention as the world increasingly looks towards India for surveillance solutions. This aligns with Prime Minister Narendra Modi’s vision of making India a product nation, and we are proud to be part of this transformation. The integration of AI technologies is revolutionizing the industry. AI enhances the functionality of cameras by offering real-time monitoring, proactive alerts, and

data analytics. At CP Plus, we are also witnessing how the demand for cameras has expanded beyond traditional security applications. Whether it’s in homes, businesses, or even vehicles with the growing popularity of dash cams, security has become a pervasive part of daily life. The market continues to grow, and the evolving technology landscape will only drive more widespread adoption of surveillance systems.”

Mr. Bijoy Alaylo, Vice President, Consumer Networking, TP-LINK INDIA, said “At TP-Link, we are showcasing over 22 new products in surveillance, networking, and enterprise solutions. This includes industrial-grade solar panels, 4G cameras, PTZ and fisheye cameras, and enterprise-grade SIM-based routers. The global surveillance market is valued at around ₹8,000 crores, with a robust CAGR of 16%, projected to grow for the next 10-15 years. TP-Link is currently capturing nearly 50% of the market share in India and continues to expand rapidly. While challenges like stock management and AI integration exist, we are committed to providing partners with strong margins and ensuring compliance with security standards. Despite being new to the surveillance sector, we are growing steadily at over 100% month-on-month, with long-term stability in mind.”

Mr. Ashish P. Dhakan is the MD & CEO, Prama Hikvision India Private Limited, said “IFSEC has been a key platform for Prama Hikvision since 2007, allowing us to showcase cutting-edge technologies aligned with India’s ‘Make in India’ vision. As part of this initiative, we’ve introduced innovations like facial recognition systems (FRS) and Automatic Number Plate Recognition (ANPR). The security industry’s total end-user market is valued at around 12 billion USD, with the OEM sector estimated at 10,000-15,000 crores INR. Prama Hikvision contributes approximately 3,500-4,000 crores INR, with the overall industry size expected to reach 15,000-20,000 crores. AI is revolutionizing not just security, but also industry automation, enabling cameras to detect product quality issues. With the government’s policies, we foresee a 40% growth rate for Indian manufacturers in the coming years.”

Mr. Manish Rathi, Chief Executive Officer, TrueView India, said “The CCTV industry in India is witnessing remarkable growth, currently valued at approximately ₹6,000–7,000 crore annually, with projections to double within the next 2–3 years. The recent restrictions on Chinese brands have opened up significant opportunities for Indian manufacturers to strengthen their presence in the market. Innovations such as AI-driven solutions for human detection, face recognition, and Wi-Fi enabled, wire-free systems are transforming the industry landscape. With cutting-edge offerings and state-of-the-art manufacturing facilities, Indian brands are poised to lead the way in addressing growing security demands.”

Prof. Amol Deshmukh, Police and Cyber Advisor, Govt. of Maharashtra, and Hon. OSD, Ministry of Home Affairs, said “There have been rapid advancements in security technology over the past decade. He noted the shift from manual analysis to AI-powered systems capable of identifying vehicle types, license plates, and even occupants. Citing his advisory role in Asia’s first multimodal biometric system in Maharashtra, he shared how it processed 12 lakh CID database prints in 0.4 seconds, leading to 1,200 arrests in a single day. Emphasizing India’s focus on technology in criminal laws and homeland security, he called IFSEC a key platform for innovation and policy influence in building a secure future.”

Mr. S. K. Singh, DCP, Delhi Traffic Police, HQ & Road Safety, emphasized “The shift in security from a primary focus on physical protection to the equally critical realm of digital security. Advanced technologies like AI-driven facial recognition and anomaly detection have transformed security systems but also introduced challenges such as password breaches and vulnerability exploitation. With 35% of critical assets still at risk of cyber threats, integrating robust digital defences alongside physical measures has become imperative. Innovations like spider networks, developed by Indian scientists, underscore the nation’s ability to tackle these evolving security challenges effectively.”

Highlighting the significance of the ongoing collaboration between the UK and India in the security sector, Ms. Christina Scott, Deputy High Commissioner, UK High Commission in India, said “India’s success in executing the world’s largest democratic process with minimal risks highlights the strength of its security infrastructure. The UK, as the third-largest exporter of security and defense technologies, continues to lead in innovation and R&D. Initiatives like the Technology Security Initiative and strengthened bilateral strategic partnerships underscore our commitment to advancing collaboration in cutting-edge areas such as quantum, cybersecurity, and emerging threats. With India’s unmatched manufacturing capabilities and the UK’s technological expertise, the potential for joint efforts to address global security challenges is immense. The participation of prominent British companies at the UK Pavilion exemplifies this shared vision for a secure future.”

Mr. Harvindra Singh, Chair, American Society for Industrial Security (ASIS) New Delhi Chapter, said, “The rapidly evolving risk landscape, driven by technological advancements and interconnected systems, demands innovation and collaboration to ensure safety and security. ASIS International remains committed to empowering security professionals through initiatives like training, knowledge-sharing, and networking, fostering transformative growth in the industry.”

Mr. Yogesh Mudras, Managing Director, Informa Markets in India, said, “IFSEC India 2024 stands as a testament to the dynamic evolution of the Indian security systems market, which is witnessing extraordinary growth driven by rising public safety awareness and advanced cybersecurity needs. While metro cities continue to lead in adopting sophisticated security measures, tier-II and tier-III cities are emerging as significant contributors to this demand surge. The integration of AIoT technologies is revolutionizing the industry, enabling cutting-edge security cameras and solutions to cater to diverse needs across urban and rural areas. As India strides towards

becoming a global economic powerhouse, the demand for advanced surveillance solutions is accelerating. Valued at USD 3.98 billion in 2024, the Indian CCTV market is set to grow at an impressive

CAGR of 20.6%, reaching USD 10.17 billion by 2029. IFSEC India serves as the ideal platform to showcase these advancements, shaping the future of the security ecosystem and driving innovation across the sector.”

IFSEC India 2024 has received strong support from prominent associations, including Asian Professional Security Association (APSA), American Society for Industrial Security (ASIS) Delhi, Ahmedabad, and Mumbai Chapters, Electronic Security Association of India (ESAI), Overseas Security Advisory Council (OSAC) Delhi and Chennai Chapters, International Institute of Security and Safety Management (IISSM), Central Association for Private Security Industry (CAPSI), Global Association for Corporate Services (GACS), and Mitkat Advisory.

India’s security landscape is undergoing a remarkable transformation, with cities increasingly adopting advanced solutions such as video analytics, facial recognition, and integrated CCTV systems, driving the shift toward smarter and safer urban environments.

IIT Roorkee Recognized at 10th CII Industrial IP Awards 2024 for Outstanding Contribution to India’s IP Ecosystem

Delhi, IIT Roorkee, December 14, 2024 – The Indian Institute of Technology (IIT) Roorkee has been honoured with the prestigious Confederation of Indian Industry (CII) Intellectual Property (IP) Award 2024, recognizing its outstanding contributions to innovation, IP management, and the commercialization of cutting-edge technologies. This esteemed award highlights the Institute’s leadership in fostering an IP-savvy ecosystem and driving forward India’s technological advancement.

IIT Roorkee’s achievement is a direct result of its robust innovation ecosystem, which seamlessly integrates world-class research, collaboration with industries, and an unwavering commitment to protecting intellectual property. Over the years, the Institute has built a comprehensive infrastructure to nurture innovation, supporting both faculty and students in transforming their ideas into commercially viable technologies.

A significant factor contributing to this success has been the active utilization of various government schemes that have provided crucial support, enabling IIT Roorkee to establish an environment where IP management and technology commercialization are prioritized. The result has been a flourishing ecosystem that fosters the creation of new intellectual properties while also ensuring that these innovations benefit society.

One of the defining accomplishments for IIT Roorkee this year is the record-breaking number of IP filings and granted patents. The Institute has set new benchmarks in IP generation, with a substantial increase in patent applications filed and granted. This success reflects the Institute’s focus on translating research into tangible products and solutions. IIT Roorkee’s faculty and researchers have demonstrated a relentless drive to create pioneering technologies that are not only innovative but also have the potential to address real-world challenges across diverse sectors, including engineering, healthcare, and renewable energy.

In addition to IP filings, IIT Roorkee has made significant strides in the commercialization of its technologies. With a dedicated Technology Transfer and Innovation Cell, the Institute has facilitated numerous collaborations with industry partners, start-ups, and government agencies to bring its innovations to market. This commercialization pipeline has resulted in a growing number of technologies being successfully adopted by industries, contributing to India’s industrial and economic growth. These efforts have been pivotal in ensuring that IIT Roorkee’s research has a meaningful impact on society.

Prof. Akshay Dvivedi, Dean Sponsored Research and Industrial Consultancy said, IIT Roorkee’s efforts in fostering innovation, IP management, and technology commercialization are aligned with India’s vision to become a global hub for innovation and intellectual property. This recognition by CII further solidifies the Institute’s position as a leader in academic and industrial innovation, paving the way for continued success in the years ahead.

Prof. K K Pant, Director of IIT Roorkee, said, “We are extremely proud to receive the CII IP Award 2024, which is a recognition of our sustained efforts to create an IP-driven culture at IIT Roorkee. This achievement is a testament to the tireless work of our faculty, students, and staff, who have worked in synergy to bring innovative ideas to life. We will continue to leverage government schemes and collaborate with industry to enhance the commercialization of our technologies and make a lasting impact on society.”

Innovation around affordable home products critical for growth: Experts at national conclave

New Delhi, December 14, 2024: With the home products market poised to reach an estimated INR 3.50 lakh crore, industry leaders at a national industry conclave called for measures to address the affordability gap in energy-efficient and high-quality products. They also applauded the rising aspirations of Indian consumers, and how the industry has kept pace by providing luxury items at an affordable price range.

Themed ‘Identifying Growth Opportunities for Home Products’, the conclave organised by Metrix Research & Analytics, brought together business leaders and innovators to deliberate on the future of this segment, and how imperative it is for the industry to align itself with the changing needs and aspirations of India’s vast consumers’ landscape.

In his keynote address, Vipul Roongta, MD & CEO, HDFC Capital Advisors Ltd., highlighted India’s demographic shift and the growing middle class, many of whom are yet to purchase their first home. This presents a massive opportunity for growth in the housing market. Roongta stated, “India is in the middle of a housing boom, largely in the affordable segment. The middle-income consumer segment desires homes and home products that reflect modern aspirations whilst remaining affordable. Bridging this gap is essential to drive the next wave of growth. By offering energy-efficient, affordable solutions and positioning them optimally, the industry can not only meet the evolving needs of the consumer but also contribute to sustainability.”

Leaders also reflected on the macro economic trends and its bearing on the home products industry. Vivek Chhacchi, Managing Partner at CX Partners, highlighted the significant role of the government’s planned capital expenditure. The government has budgeted ₹11 lakh crore for capital expenditure this year, representing 42% of the total budget. As of October, only a small portion of this amount has been spent. However, with the government set to increase spending over the next five months, there is an expectation that the economy will pick up pace as a result. He further elaborated that the government’s finances are in good shape and the infrastructure projects will accelerate, giving a momentum to the industry.

The conclave shed light on trends, including rapid urbanisation, sustainability, and the integration of technology in home products. Venkatesh Vijayaraghavan, MD & CEO of TTK Prestige, discussed the ongoing shifts in consumer habits, particularly in relation to the growing hybrid state of work and life. “The rise of e-commerce and awareness on health and sustainability are reshaping consumer preferences, reflecting a paradigm shift where convenience, functionality, and digital access are at the forefront, opening new growth avenues for the home products industry.” Similarly, Puneet Dhawan, MD of LedVance, highlighted how advancements in LED lighting are driving consumers shift towards sustainability in the home products sector. Mohit Narula, MD of Ariston Group India, added, “As awareness of environmental issues continues to rise. consumers are becoming more discerning, placing greater emphasis on quality, energy efficiency, and sustainability when choosing home products.”

Ejaz Hoda, Director & CEO of Metrix Research & Analytics, emphasised the paradigm shifts that are shaping consumer preferences, stating, “Aesthetic appeal and health consciousness are likely to drive consumer preferences in India’s home products market while technology will remain at the heart of innovation.”

Mathew Job, Executive Chairman at Watertec India Pvt. Ltd., emphasised the critical importance of innovation in driving growth, remarking, “Innovation can impact growth and create value in many different ways. ” He also stressed the need for businesses to have appropriate metrics in place to ensure success of innovation.

Drawing parallels with the evolution of tires and telephones, Vivek Yadav, Executive Vice President & Switchgear Business Head, Havells India Ltd., said, “From the first phone call in 1876 to 1.4 billion mobile phone users today, these breakthroughs have reshaped industries. Just as innovation overcame significant hurdles in the past, it continues to be the key to addressing the evolving demands of today’s fast-paced world.”

With innovation at its core, the conclave also addressed the intersection of technology and sustainability. Pradyumna Poddar, Chairman at IFMA and President at Fans BU, Usha International Ltd., noted “It’s essential to find a balance between cutting-edge technology and affordability, so consumers feel the value proposition is worth the price.” Technology is reshaping consumer expectations, and sustainability is no longer optional. By addressing these elements head-on, the industry can create a future-ready industry that aligns with the values of eco-conscious consumers.

The idea of ‘premiumization of luxury with affordability’, bringing high-end features to mainstream audiences, was another core theme that was discussed. Leaders advocated for positioning products that combine premium quality with regular price points, creating opportunities to serve aspirational consumers. On account of holistic growth to strategy development, Sameer Anjaria, President, Standard Electricals, Havells India Limited, expressed, “Indian consumers are increasingly looking for avenues to express their individuality in their home décor. This need for uniqueness combined with a clear trend towards smart spending drives positioning. When evaluating the key parameters and influences for any organisation, it is crucial to consider these consumer drivers and balance it with an organisation’s internal parameters like technical and manufacturing ability.”

Dinesh Aggarwal, an industry veteran, former Joint MD at Panasonic Electric Works, India and till recently CEO of RR Kabel Ltd noted, “Metrix Research & Analytics has been a reliable partner for businesses, offering critical insights and market intelligence. As we tackle new challenges like higher consumer expectation from ease of availability, product innovation and more value from the offering, Metrix is well-equipped to guide the industry in navigating these complexities.”

The conclave saw the presence of several prominent leaders from the home products industry including Saurabh Goel, Executive President, Havells; Dr. Rajbir Singh, Founder of Value Centria; Shankaranarayan V, Sr. Director & Head of Product & Marketing – Consumer Business, Signify Innovations India Limited; Rakesh Chahar, Director, Sheela Foam Ltd; Sriram Rangarajan, EVP, Consumer Electrical and SBU Head, CG Power and Industrial Solutions Ltd; among others.

Satyajit Tripathy Confirms Bill for 100% Foreign Ownership in Insurance Sector Pending Parliament Approval

Mumbai, 14 December 2024: “Insurance sector is growing at 15 to 16 percent and will grow further as a bill to allow 100% foreign ownership in companies is awaiting to be placed in the parliament. The sector is not just a pillar of financial stability but also a catalyst for economic growth and social security. The task before us is to navigate the challenges, seize the emerging opportunities and align with the nation’s vision of a vibrant and sustainable financial ecosystem.” said Shri Satyajit Tripathy, Member- Distribution, Insurance Regulatory and Development Authority of India at 16th Global Insurance Summit and Awards event organised by ASSOCHAM.

“At 3.8% of GDP and a density of US$95, India’s insurance penetration is lower than global average due to limited awareness and gap in up-skilling employees and education. The increasing frequency of natural disaster highlights the urgent need for comprehensive catastrophic insurance product and risk pools. We must develop underwriting capacity to write those risks and prevent those underwriting challenges going abroad with higher pricing. Capacity for underwriting higher complex industrial risks, satellites, marine risks and the emerging risks in chemical industries and the attendant complexities need to be developed quickly” said Mr Tripathy.

“The contribution of Bimaru states to the GDP are growing significantly. Insurers when device products used to avoid such states leading to concentration of intermediaries in a few pockets. This leads to the question of renewing licenses of insurers if the policies are not reaching to the people for which it is devised. The regulator’s job is not to give license and renew it year after year.” he added.

Speaking at the event, Girija Subramanian, Co-Chairman, Assocham National Council for Insurance, and CMD, New India Assurance Co Ltd., said, “Insurance sector is now one of India’s sunrise industries, which is also one of the most competitive and dynamically evolving industries today. While the sector is poised for a major transformation, economic growth and expanding middle class, rich demographic dividend innovation and regulatory support is driving the insurance market growth today. Additionally, the infusion of capital and expertise from global players can bolster the industry’s capacity to adopt advanced technologies such as artificial intelligence and data analytics for risk assessment, claims management and customer engagement.”

“The Bhima Vahak initiative from IRDAI is a welcome move that will be one of the largest employment generators bringing out the entrepreneurial side of the youth and thereby offering excellent growth opportunities while contributing to the growth of the nation,” added Subramanian.

From growth prospective, India’s insurance sector is becoming a very hot destination for investors and promoters. “I think we are having a brilliant opportunity right now. India is shining, and we’re very happy to be part of it. Delving into the theme, India’s Insurance Vision: Challenges and Way Forward, I will in fact rephrase it, seeing opportunities, challenges and way forward,” said Anuj Mathur, Chairman, Assocham National Council for Insurance, and MD & CEO, Canara HSBC Life Insurance Co Ltd.

“India is poised to become a $ 45 trillion economy by 2047. Insurance plays a pivotal role, not merely a safeguard against uncertainties, but as catalyst for growth resilience, and empowerment” added Mathur.

On the sector witnessing technology disruption, G Srinivasan, Advisor, Assocham National Council for Insurance, and MD & CEO, Galaxy Health and Allied Insurance Co Ltd., said, “Today there are a large number of insurtech changing the way insurance is being done. There has been a lot of positive disruption and these companies need to be encouraged. Technology as an enabler of reaching out to people, improving customer experience, improving the “customer service is going to gain importance..

Sridhar Narayan, Chief Business Officer, Perfios Software Solutions while addressing the summit said, “There is an unprecedented and phenomenal opportunity for facilitation and greater penetration of insurance products in the country. The opportunity is there because the insurance regulator, insurance companies and technology providers have come together. The use of InsureTech is also playing a big role from consumer, insurance companies and insurance aggregator’s perspective.”

Mr Rajiv Gupta, Co-Chairman, ASSOCHAM National Council for Insurance and President, PB Fintech Ltd (Policy Bazaar & Paisa Bazaar) has given the vote of thanks and highlighted the potential of technology to drive a more inclusive insurance sector for economic growth and societal progress.

ZEE Entertainment Announces Exciting New Agency Premier League T20 Ahead of ILT20 Season 3

New Delhi, 14th December 2024: Zee Entertainment Enterprises Limited (ZEEL), the official broadcaster of the DP World International League T20, is set to engage prominent media agencies with its inaugural Agency Premier League T20, which will be held in Bengaluru, Delhi, and Mumbai. The Bengaluru leg will be graced by popular Kannada actor, director, and television presenter Ramesh Aravind. The multifaceted star, whose iconic Kannada talk show Weekend with Ramesh is one of the many attractions on Zee5, will provide a thrilling start to the tournament with his presence. This unique trade marketing initiative is designed to promote the third edition of ILT20 among media professionals through an engaging platform. The league will start with Bengaluru on 16th December, followed by Delhi on 18th December, and culminating in Mumbai on 20th December.

The Bengaluru leg will see spirited participation from prominent agencies, including Group M fielding two teams, as well as Dentsu, Havas Media, Initiative and Madison each competing with one team. Following this, the Delhi edition will feature teams from OMD, Havas, IPG, Group M, Publicis and Dentsu. The Mumbai event will host an equally competitive line up with Wavemaker, Starcom, Madison World, DBB Mudra Max, Essence Mediacom and Mindshare Fulcrum.

Reflecting on the league, Mr. Ashish Sehgal, Chief Growth Officer – Digital & Broadcast Revenue, Zee Entertainment Enterprise Limited, said, “The Agency Premier League T20 reflects Zee Entertainment’s commitment to fostering meaningful engagement and pursuits with our trade partners, including the media. Cricket unites India, and this league brings the excitement of ILT20 closer to the media fraternity while celebrating the unifying spirit of the game. Through this tournament, our aim is to create an innovative and immersive experience that resonates with cricket fans across the globe.”

The month-long third edition of DP World ILT20 will begin on 11 January 2025, with the finals slated to take place on Sunday, 9 February 2025. Cricket fans can watch this action-packed tournament on ZEE’s most widely distributed and viewed 15 linear TV channels: &Pictures SD, &Pictures HD, Zee Cinema HD, Zee Anmol Cinema 2, Zee Action, Zee Biskope, Zee Zest SD, Zee Cinemalu HD, Zee Telugu HD, Zee Thirai, Zee Tamil HD, Zee Kannada HD, Zee Zest HD, &Flix SD and &Flix HD. It’s also free to view on one of India’s leading OTT platform – ZEE5. The syndicate broadcast partners around the world will be announced in the coming days.

Earlier this year, ZEE Entertainment Enterprises Limited (ZEEL) reported that the league’s second season reached 221 million viewers and with an aim to capture a viewership of 230-million for the upcoming season, ZEE will expand its reach by including South Indian channels, offering a month-long cricket carnival experience.

The channel’s extensive distribution strategy ensured widespread accessibility in India and across the globe. With a notable 46% share of female viewership and 55% share of youth viewership, the league’s broad appeal in India underscores its status.