3, Dec 2024
MongoDB Announces Expansion of the MongoDB AI Applications Program
New Delhi—December 3, 2024—MongoDB, Inc. (NASDAQ: MDB) today at AWS re:Invent announced that a new cohort of organizations have joined the MongoDB AI Applications Program (MAAP) ecosystem of leading AI and tech companies. By lending their experience and expertise to MAAP, Capgemini, Confluent, IBM, QuantumBlack, AI by McKinsey, and Unstructured will offer customers additional integration and solution options, boosting the value customers receive from MAAP. Since it was launched earlier this year, MAAP has already made an impact, helping customers like CentralReach—which provides an AI-powered autism care and intellectual and developmental disabilities (IDD) platform—innovate with AI. The MAAP Center of Excellence Team, a cross-functional group of AI experts at MongoDB, has collaborated with partners and customers across industries to overcome an array of technical challenges, empowering organizations of all sizes to build and deploy AI applications. The expansion of the MongoDB AI Applications Program follows the introduction of vector quantization to MongoDB Atlas Vector Search (which reduces vector sizes while preserving performance—at lower cost), as well as new integrations with leading AI and technology companies.
MongoDB is also collaborating with Meta on Llama to support developers in their efforts to build more efficiently and to best serve customers. Currently, both enterprise and public sector customers are leveraging Llama and MongoDB to build innovative, AI-enriched applications, accelerating progress toward business goals. In the coming months, MongoDB plans to implement turnkey mapping from its database to the LlamaStack APIs, empowering developers to deliver solutions to market more quickly and efficiently.
“At the beginning of 2024, many organizations saw the immense potential of generative AI, but were struggling to take advantage of this new, rapidly evolving technology. And 2025 is sure to bring more change—and further innovation,” said Greg Maxson, Senior Director of AI GTM and Strategic Partnerships at MongoDB. “The aim of MAAP, and of MongoDB’s collaborations with industry leaders like Meta, is to empower customers to use their data to build custom AI applications in a scalable, cost-effective way. By joining the MAAP partner network, Capgemini, Confluent, IBM, QuantumBlack, AI by McKinsey, and Unstructured are helping the program evolve to meet the ever-changing AI landscape, and offering customers an array of leading solutions.”
Launched in the summer of 2024—with founding members Accenture, Anthropic, Anyscale, Arcee AI, AWS, Cohere, Credal, Fireworks AI, Google Cloud, gravity9, LangChain, LlamaIndex, Microsoft Azure, Nomic, PeerIslands, Pureinsights, and Together AI—the MongoDB AI Applications Program is designed to help organizations unleash the power of their data and to take advantage of rapidly advancing AI technologies. It offers customers an array of resources to put AI applications into production: reference architectures and an end-to-end technology stack that includes integrations with leading technology providers, professional services, and a unified support system to help customers quickly build and deploy AI applications.
Because the AI landscape and customer expectations of AI continue to evolve, MongoDB has carefully grown the MAAP program—and the MAAP ecosystem of companies—to best meet customer needs. By working with AI industry leaders, MongoDB has gained a unique understanding of both the technology and implementation partners that can best help customers build AI applications, and has built the MAAP partner network accordingly.
New MAAP partners look forward to helping customers build AI applications
A global consulting and technology services company, Capgemini offers integrated solutions for digital transformation, blending expertise with breakthrough technology. Confluent, meanwhile, is a cloud-native data streaming platform that allows users to stream, connect, process, and govern data in real time.
“Business leaders are increasingly recognizing generative AI’s value as an accelerator for driving innovation and revenue growth. But the real opportunity lies in moving from ambition to action at scale. We are pleased to continue working with MongoDB to help deliver tangible value to clients and drive competitive advantage by leveraging a trustworthy data foundation, thereby enabling gen AI at scale,” said Niraj Parihar, CEO of Insights & Data Global Business Line and Member of the Group Executive Committee at Capgemini. “MAAP helps clients build gen AI strategy, identify key use cases, and bring solutions to life, and we look forward to being a key part of this for many organizations.”
“Enterprise AI strategy is inextricably dependent upon fresh, trusted data about the business. Without real-time datasets, even the most advanced AI solutions will fail to deliver value,” said Shaun Clowes, Chief Product Officer at Confluent. “Seamlessly integrated with MongoDB and Atlas Vector Search, Confluent’s fully managed data streaming platform enables businesses to build the trusted, always-up-to-date data foundation essential for powering gen AI applications.”
Unstructured is the leading provider of ETL for LLMs, making it easy for enterprises to utilize their unstructured data with gen AI systems.
“Like MongoDB, we understand that data is essential to harnessing the power of gen AI,” said Brian Raymond, Founder and CEO of Unstructured. “We are excited to join the MongoDB AI Applications Program to bring our expertise in ingesting and preprocessing complex unstructured data for vector databases. The gen AI-ready data we continuously deliver and write to vector databases like MongoDB is essential to enabling our users to counter hallucinations, allowing the LLMs and AI projects that MAAP customers are working on to leverage sensitive, internal data while keeping models and projects up-to-date.”
Collaborating to make an impact with AI
Providing customers direct support from technical subject matter experts has been integral to MAAP’s success. Since the program’s inception, the MAAP Center of Excellence team—highly skilled AI experts from MAAP partners and groups across MongoDB—has worked with more than 150 organizations on a range of technical challenges, including model and technology stack evaluation, chunking strategies, advanced retrieval techniques, and the establishment of agentic workflows. Example projects include working on sound diagnostic-based maintenance recommendations for a large manufacturer, and customer service automations for companies across industries.
A recent example of how MAAP enables organizations to build with AI is IndiaDataHub, which is on a mission to build India’s largest market data and analytics platform.
Since the company’s founding, MongoDB Atlas has been the platform’s operational database for some of its key datasets, and earlier this year, IndiaDataHub joined MAAP to access AI expertise, in-depth support, and a full spectrum of technologies to enhance AI functionality within its analytics platform. This includes connecting relevant data in MongoDB with Meta’s AI models to perform sentiment analysis on text datasets.
”Data is the oil that will fuel the growth of the modern Indian economy,” said Pranoti Deshmukh, Chief Technology Officer at IndiaDataHub. “Working with MongoDB, the MAAP ecosystem, and Meta’s AI tools, we’ve been able to accelerate our AI strategy to make high-quality, timely data and analytics available to everyone in India who needs it. The professional support and deep AI expertise we’ve received through the MAAP program have been outstanding.”
“We are thrilled to see how many enterprises are leveraging our open source AI models to build better solutions for their customers and solve the problems their teams are facing everyday,” said Ragavan Srinivasan, VP of Product at Meta. “Leveraging our family of Meta models and the end-to-end technology stack offered by the MongoDB AI Applications Program demonstrates the incredible power of open source to drive innovation and collaboration across the industry.”
Another success story is CentralReach, which provides an AI-powered electronic medical record (EMR) platform that is designed to improve outcomes for children and adults diagnosed with autism and related intellectual and developmental disabilities (IDD).
Prior to working with MongoDB and MAAP, CentralReach was looking for an experienced partner to further connect and aggregate its more than 4 billion financial and clinical data points across its suite of solutions.
CentralReach leveraged MongoDB’s document model to aggregate the company’s diverse forms of information from assessments to clinical data collection, so the company could build rich AI-assisted solutions on top of its database. Meanwhile, MAAP partners helped CentralReach to design and optimize multiple layers of its comprehensive buildout. All of this will enable CentralReach to support initiatives such as value-based outcome measurement, clinical supervision, and care delivery efficacy. With these new data layers in place, providers will be able to make substantial improvements to their clinical delivery to optimize care for all those they serve.
“As a mission-driven organization, CentralReach is always looking to innovate on behalf of the clinical professionals—and the more than 350,000 autism and IDD learners—that we serve globally,” said Chris Sullens, CEO of CentralReach. “So being able to lean on MongoDBs database technology and draw on the collective expertise of the MAAP partner network—in addition to MongoDB’s tech expertise and services—to help us improve outcomes for our customers and their clients worldwide has been invaluable.”
The expansion of the MongoDB AI Applications Program builds on recent AI-related announcements from MongoDB.
In October, MongoDB announced vector quantization capabilities in MongoDB Atlas Vector Search. By reducing vector storage and memory requirements while preserving performance, these capabilities empower developers to build AI-enriched applications with more scale—and at a lower cost.
Outside of MAAP, since the start of the year MongoDB has built partnerships with more than 40 leading AI companies, enabling additional flexibility and choice for customers. Recent collaborations include those with Astronomer, Arize AI, Baseten, CloudZero, Modal, and ObjectBox. By working closely with its AI partners on product launches, integrations, and real-world challenges, MongoDB is able to bring a better understanding of AI to joint customers, deliver interoperability for end-to-end workflows, and to give them the resources and confidence they need to move forward with this groundbreaking technology.
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- By Rabindra
3, Dec 2024
Relaxation, Family Travel, and Exploring New Destinations to Define Travel Next Year – Agoda Shares Seven Travel Trends for 2025
New Delhi, 3 December 2024 – Digital travel platform Agoda has unveiled its 2025 Travel Trends survey, highlighting the key factors set to shape the travel landscape in Asia in the coming year. The survey reveals a strong focus on relaxation, family-oriented trips, and the excitement of discovering new destinations as primary motivations for travellers.
Agoda’s findings indicate that travellers are prioritizing quality time with loved ones and seeking respite from daily routines. The survey also underscores the growing interest in exploring uncharted territories. Noteworthy is the popularity of theme parks, with one in eight respondents expecting to go on a trip to visit one.
Ittai Chorev, Chief Product Officer at Agoda, said, “At Agoda, we love seeing how travellers are planning their adventures for 2025. Whether it’s unwinding with family or exploring new places, we’re here to make every traveller’s dream trip memorable and are ready to help them every step of the way.”
Seven key insights from Agoda’s 2025 Travel Trends survey:
- The more the merrier: Traveling with family tops the list
For many travellers, family time equals quality time. More than a third of travellers (34%) plan to travel with family in 2025. Indonesians are the most fervent family travellers of all, with no less than 58% expecting to go on a multi-generational trip with loved ones. Indians follow closely with 30% opting for family trips. This trend is followed by couples (23%), and solo travellers (19%) in terms of most popular travel groupings across Asian travellers.
- Easy does it: Relaxation is the top travel motivation, by far
Escaping from the hustle and bustle of daily life is by far the most important reason to travel, according to the survey. 75% of respondents cited relaxation as their most important travel motivation. For Indians, this is the leading travel motivation with 80% of the respondents expressing their desire for relaxation when on vacation. Regionally, visiting family and friends follows in second (38%), with cultural exploration in third (35%).
- Computer says ‘yes’: Tech assisting in travel planning
Technology is playing a pivotal role in shaping travel plans. A substantial majority of travellers (80%) plan to use travel apps, while about one in eight (12%) are interested in virtual reality tours. Indian travellers appear to be most tech-savvy, with nine out of ten respondents claiming the use of travel apps when booking a trip.
- Travel For Less: Journey more, spend smart
Budget considerations remain a key factor, with a significant portion of travellers (65%) planning to spend less than $250 (INR 21,073) per night on accommodation. 70% of Indian travellers consider budget availability to be the most important factor when planning a trip. But price is not a barrier to international travel – 87% of travellers expect to take the same number of trips or more compared to 2024, with most of those journeys crossing borders (52%).
- In and Out of Office: Traveling on and off the clock
In addition to traditional business trips, which 28% of respondents expect to embark on, the survey also picked up on the emergence of digital nomads, borderless workers who work remotely. 1 in 25 expects to work remotely in 2025, with a focus on combining work and leisure, as more companies adopt flexible work arrangements. Most prospective digital nomads in the region are from the Philippines, where one in fourteen travellers expect to work while traveling.
- Inspiration: Many ways to discover new destinations
There’s nothing quite as exciting as exploring a place for the very first time. 84% of travellers expect to visit new destinations in 2025. Travel inspiration can come from many sources including personal interests and hobbies (71%), great value deals (56%), and recommendations from friends and family (33%). One in five (20%) gets their travel inspiration from social media. 28% of Indians consider loyalty programs and value deals an important factor when planning trips. This trend is reflective of the growing collaboration between banks, credit card companies, and travel platforms to offer better deals in the Indian market seen this year. Agoda also brings exclusive deals to customers of ICICI Bank, IDFC, HSBC, and Bank of Baroda, making travel more rewarding than ever.
- Life is a rollercoaster: Theme Parks are a reason to travel
Asia’s many theme parks – Disney in Tokyo, Shanghai, and Hong Kong, Lotte World in Seoul, Universal in Osaka and Singapore, Ferrari World in Abu Dabhi, to name a few – are a major draw for year-round tourism. Over one in eight travellers (13%) expect to travel specifically to visit a theme park in 2025. The UAE and Singapore are among the most popular destinations for Indians seeking thrilling theme park experiences. With attractions like rollercoasters and amusement rides, these destinations have captured the interest of Indian travellers, with over one in twenty planning trips specifically for theme park adventures.
Agoda’s offerings, including over 4.5 million holiday properties, more than 130,000 flight routes, and over 300,000 activities, provide travellers with the flexibility to tailor their trips to their unique interests and preferences. For more information and to take advantage of the latest deals, visit Agoda.com or download the Agoda app.
3, Dec 2024
GoMechanic Launches Top Assist to Close India’s Roadside Assistance Gap
New Delhi, 3rd December 2024 – Breakdowns happen when you least expect them. For Indian drivers, roadside emergencies often lead to frustrating delays, vulnerability, and anxiety. Recognizing the need for better support, GoMechanic, India’s leading car service and repair platform, proudly introduces ‘Top Assist’, a 24×7 nationwide roadside assistance service.
With affordable pricing, seamless coverage, and rapid response times, Top Assist aims to bridge the gap in emergency support for drivers across the country.
A study by the International Road Federation revealed that 60% of Indian drivers rank quick response times as their top priority during emergencies. Yet, most existing services—often priced above ₹3,000 annually—fail to deliver on this need. Drivers frequently face long wait times, especially on highways and in rural areas, leaving them stranded and anxious.
“The roads have changed, but the support drivers rely on hasn’t,” said Himanshu, co-founder of GoMechanic. “Breakdowns aren’t just about inconvenience—they leave drivers stranded and uncertain. Top Assist ensures that help is no longer a question mark. It’s there when you need it, every time.”
India’s roads see over 230 million vehicles annually, with countless drivers encountering challenges like flat tires, breakdowns, and other emergencies. GoMechanic’s Top Assist is set to revolutionize roadside assistance with its comprehensive, nationwide reach. Covering more than 3,000 cities and 20,000 pin codes, it ensures that help is available anywhere, from bustling metros to remote highways.
During its soft launch, Top Assist garnered an overwhelming response, with over 1 lakh drivers subscribing, highlighting the immense demand for a reliable and affordable roadside assistance solution. At an introductory price of just Rs. 99, the service reflects GoMechanic’s vision of making essential support accessible to all drivers, regardless of location.
“Roadside emergencies shouldn’t leave anyone feeling stranded or helpless,” said Muskan Kakkar, Co-founder of GoMechanic. “Top Assist isn’t just a service—it’s a promise to ensure that every driver has dependable help, anywhere and anytime they need it.”
3, Dec 2024
INDIA subscribes to DOR – India’s first Subscription TV service gets SOLD-OUT on day 1
New Delhi, 3rd December, 2024 – Dale Carnegie India hosted its Expert Forum 2024, bringing together HR leaders and industry experts to address workplace perception gaps and foster organizational collaboration. The virtual forum, themed “One Vision, One Team: How to Bridge Perception Gaps Across Roles,” explored strategies for creating aligned, high-performing workplace cultures.
Dr. Robert A. Coleman, Director of Research & Thought Leadership at Dale Carnegie & Associates, opened the forum by presenting the latest white paper “Bridging the Gap – Aligning Workplace Perceptions Across Organizational Levels.” The research highlighted critical misalignments between leadership, middle management, and employees, offering actionable solutions for enhanced communication and trust.
The forum featured an expert panel moderated by Dr. Coleman, with distinguished speakers:
- Pallavi Jha, Chairperson & Managing Director, Dale Carnegie India & Walchand PeopleFirst
- Sanjay Jha, Executive Director, Dale Carnegie India
- Noha El Daly, Global Vice President, Managed Services & Global Accounts, Dale Carnegie & Associates
The discussions sparked insightful contributions from attending HR leaders. Usha TK, AVP & Head HR at Borderless Access, emphasized how the sense of big picture varies across teams: “In highly collaborative environments, each team’s experiences and perspectives are distinct, yet interdependent.”
Jehangir Ardeshir, President and MD of TIPL at Terex, addressed the critical role of leadership authenticity: “Employees are perceptive. They observe whether leaders are institution builders or merely transactional. This perception, along with the authenticity of leaders’ values, shapes organizational behavior.” He also highlighted the delicate balance needed in organizational dynamics, adding that “Both friction and collaboration bring value. The challenge lies in managing the balance between the two.”
Emmanuel Gosula, Senior Manager – Talent Development at EPAM, raised an intriguing perspective on alignment: “With 20% of people contributing to 80% of the work, is it necessary for everyone to be on the same page? The key is to align critical contributors while enabling broader collaboration.”
The panel moderators enriched the discussion with their expertise. Sanjay Jha emphasized the importance of leadership responsibility: “Senior leadership must introspect and evaluate whether they are actively fostering inclusivity within the organization. Leadership is not just about strategy—it’s about building a culture where every voice is valued.”
Pallavi Jha highlighted the universal nature of organizational challenges: “Across the globe, employees face many similar issues. Organizations function like communication pyramids, with each individual viewing situations through their unique lens. The goal is to bridge these perspectives and foster mutual understanding.”
Noha El Daly addressed the fundamental question of alignment: “Sometimes it’s essential to question: What does being on the same page mean, and why should people align? Defining alignment is the first step toward achieving it.”
The dimension of workplace perceptions emerged as a key theme, with Krishnamurthy B, Manager – Talent Management & Development at Fosroc India, noting: “Employees from different geographies bring unique experiences and perspectives to the table. Recognizing and valuing this diversity is crucial for building cohesive teams.”
Key Actions for Alignment: The forum identified essential strategies for achieving organizational alignment. These include strengthening communication channels, ensuring individual contributors clearly understand company goals, and having leaders proactively explain how each role fits into the bigger picture. The importance of providing career advancement opportunities for managers was also emphasized.
Dr. Coleman highlighted key drivers of alignment: “Creating a sense of pride in the workplace and maintaining employee engagement emerged as crucial factors. When combined with targeted communication efforts and clear career pathways, these elements form the foundation for sustained organizational alignment.”
Impact and Future Direction: The forum provided actionable insights from Dale Carnegie’s research, emphasizing methods to foster trust, improve communication, and create unified cultures. ” As the forum concluded, Pallavi Jha, Chairperson & Managing Director of Dale Carnegie India, left attendees with an inspiring message about the importance of growth, shared goals, and the power of belief in achieving organizational success. She emphasized that aligning individual aspirations with organizational objectives starts with a foundation of open communication.
“Growth is not just about numbers; it’s about creating environments where people thrive, align with shared goals, and feel valued for their contributions. Believing in your team and fostering mutual trust are fundamental to achieving this alignment,” she said. “Communication is the cornerstone of any successful organization. When leaders actively listen and foster dialogue, it bridges perception gaps, builds trust, and empowers teams to perform at their best.”
3, Dec 2024
Novotel Goa Candolim Hosts Joyful Journeys: An Event Full of Smiles and Strength
Goa ,December 03, 2024 – Novotel Goa Candolim opened its doors to a heartwarming event titled “Joyful Journeys: A Day of Smiles and Strength” recently. This initiative aimed to bring joy and support to children battling cancer, providing them with a day filled with laughter, love, and unforgettable memories.
The event was organized in collaboration with the Social Work Program at D. D. Kosambi School of Social Sciences & Behavioral Studies, Goa University, and the Oncology Department of Goa Medical College. Approximately 35 kids who were undergoing tough medical conditions and receiving treatment from Goa Medical College, along with their parents, doctors, and professors from Goa University, were part of this special event.
From 10:00 AM to 4:00 PM, the hotel transformed into a hub of happiness as it welcomed these families for a series of engaging activities including games, performances and interactive activities. Novotel Goa Candolim as the Entertainment and Food & Beverage partner for the event ensured every child had a special day with the choicest of activities and fun.
Sachin Maheshwary, General Manager, Novotel Goa Candolim, expressed his thoughts on the hotel’s participation in this meaningful event, “We believe in the power of community and the importance of giving back. Hosting Joyful Journeys not only allowed us to support these courageous children but also enriched our team’s spirit and strengthened our connection with the local community. It’s a reminder that our purpose extends beyond hospitality; it’s about making a positive impact in the lives of those around us.”
As the event concluded, participants left with smiles on their faces and hearts full of hope, embodying the spirit of togetherness that defines Joyful Journeys. The day was not just about fun; it was about celebrating courage and resilience among young fighters.
3, Dec 2024
GeoSmart India 2024 Commences in Hyderabad with the Theme: Powering Digital Public Infrastructure Through Geospatial Knowledge
3 December, Hyderabad, December 2024 – GeoSmart India 2024, India’s premier geospatial technology conference, commenced today at the Hyderabad International Convention Centre (HICC).
With the forward-looking theme, Powering Digital Public Infrastructure Through Geospatial Knowledge, the four-day conference aims to explore how digitization, digitalization, and digital transformation are reshaping governance by integrating geospatial data with advanced technologies.
Inaugurating the event, Chief Guest Balo Raja, Hon’ble Minister for Urban Affairs, Land Management, and Civil Aviation, Government of Arunachal Pradesh, highlighted his vision for the state:
“As the Minister for Urban Affairs, Land Management, and Civil Aviation, our vision is to drive Arunachal Pradesh towards sustainable and inclusive growth. By prioritizing smart infrastructure, modernizing land administration, and enhancing air transport, we are building the foundation for a brighter future.”“Through initiatives like the Arun Door Sanchar project and advancements in geospatial technology, we are bridging the digital divide and harnessing innovation to make real-time, informed decisions. Our commitment is to create accessible, environmentally conscious, and well-planned urban spaces while ensuring responsible resource management to unlock the state’s full potential.”
Science to Society
In his welcome address, Sanjay Kumar, Chief Executive Officer of Geospatial World, emphasized the vital role of space infrastructure in the digital ecosystem. He explained that Earth observation satellites, positioning satellites (GNSS), and communication satellites (Satcom) collectively bridge space and surface technologies.
“Every day, we integrate space and geospatial technologies into practical use. These technologies not only adapt to disruptions but are also drivers of innovation. Location is at the core of every Fourth Industrial Revolution (4IR) technology, as demonstrated by companies like Microsoft, Amazon, Apple, Google, and NVIDIA, alongside Indian enterprises such as Tata, Reliance, and L&T.”
Kumar echoed the sentiments of Prime Minister Narendra Modi, who, on the 75th anniversary of the United Nations, highlighted the country’s digital public infrastructure (DPI) as a transformative development. DPI enables the seamless integration of space-based data with various sectors, including defense, public safety, infrastructure, urban development, and transportation.
Kumar stated, “Science to Society. Ultimately, the science behind these technologies is translated into services for society.
Data as the New Oil
Dr. Pawan Goenka, Chairman of the Indian National Space Promotion and Authorisation Centre (IN-SPACe), elaborated on the complementary nature of space and geospatial technologies. He remarked, “Satellites provide critical data for navigation, power planning, disaster management, and communication. Geospatial technologies extract insights from this data, driving innovation across industries like logistics, defense, and agriculture. Together, they contribute significantly to our GDP and innovation ecosystem.”
He highlighted the transformative impact of India’s Space Policy and National Geospatial Policy, which have deregulated the industry, fostering private sector participation and innovation.
He said, “Today, over 250 startups in the space industry are leading innovation, with private investment exceeding $125 million last year. This shift toward privatization is pivotal for India’s ambitious space goals, including the Chandrayaan missions and beyond.”
Ethical Use of Data
Srikant Lenka, Chief Strategy Officer for Telangana’s IT E&C Ministry, underlined the state’s commitment to infrastructure development and capacity-building. He noted the importance of geospatial data in solving real-world problems, from urban planning to disaster management.
He said, “Our focus is on collecting, analyzing, and utilizing geospatial data in ethical and meaningful ways to drive impactful outcomes across sectors.”
Driving the Market
Nick Bolton, Chief Executive Officer of Ordnance Survey, UK, emphasized the importance of actionable insights over raw data. He outlined the value chain of geospatial technologies through processes like positioning, capturing, refining, distributing, and applying data.
Agendra Kumar, Managing Director of Esri India, acknowledged the growing prominence of geospatial technology in India’s Union Budget, which is unlocking new investment opportunities. He noted, “With urban areas contributing 70% of India’s GDP, empowering urban communities is critical for sustainable development.”
Boris Skopljak, Vice President of Trimble’s Geospatial Sector, lauded India as an innovation hub. He highlighted the role of digital technologies in addressing industry challenges related to complexity, labor shortages, productivity, and sustainability.
With the Indian geospatial industry projected to reach $12 billion by 2030, GeoSmart India 2024 serves as a testament to the sector’s critical role in shaping a sustainable and innovative future.
3, Dec 2024
Banking sector update-Oct’24
by Aditi Gupta, Economist
RBI’s monthly data showed a moderation in credit growth across sectors in Oct’24. At 11.5%, credit growth eased to a 31-month low. While industry credit picked up on a YoY basis, credit growth to retail and services sector moderated. RBI’s regulatory crackdown on NBFC credit and unsecured lending was reflected in a slowdown in retail and services sector. Housing loans, vehicle loans and education loans also witnessed some slowdown. Going ahead, we can expect some pickup in credit growth as economic activity is expected to rebound. The government is also likely to step-up its capex spending in the remaining part of the year to meet its budgeted target, which will have a multiplier effect across industries. Hence, we can expect a revival in credit growth in the coming months. We expect credit growth in the range of 13-14% in FY25.
Trends in sectoral credit growth:
Growth in bank credit moderated sharply from 20% in Oct’23 to 11.5% in Oct’24. Even on a sequential basis, credit growth eased from 13% in Sep’24. Barring industry, credit growth slowed down across all sector in Oct’24 vis-à-vis Oct’23. Agriculture credit growth decelerated (15.5% in Oct’24 compared with 16.7% in Oct’24), but continued to grow in double-digits. However, credit growth to industry was higher at 7.9% in Oct’24 versus just 5.4% in the same period last year. Within industry, credit growth to medium and large industries noted a pickup on YoY basis. On the other hand, credit to micro and small enterprises dipped to 10% compared with 16.5% in Oct’23.
Table 1: Credit growth across sectors in FY25
| Sector | Oct-23 | Apr-24 | May-24 | Jun-24 | Jul-24 | Aug-24 | Sep-24 | Oct-24 |
| Non-Food Credit | 20.1 | 19.1 | 19.8 | 17.4 | 13.7 | 13.6 | 13.0 | 11.5 |
| Agriculture and Allied Activities | 17.4 | 19.8 | 21.6 | 17.4 | 18.1 | 17.7 | 16.4 | 15.5 |
| Industry | 5.4 | 7.4 | 9.4 | 8.1 | 10.2 | 9.7 | 8.9 | 7.9 |
| -Micro and Small | 16.5 | 15.5 | 15.5 | 11.0 | 13.3 | 13.4 | 13.4 | 10.0 |
| –Medium | 12.0 | 13.3 | 15.5 | 12.6 | 17.2 | 19.2 | 20.5 | 19.6 |
| –Large | 2.1 | 4.7 | 7.1 | 6.9 | 8.6 | 7.7 | 6.5 | 6.0 |
| Services | 24.0 | 22.0 | 23.2 | 17.4 | 14.5 | 13.9 | 13.7 | 12.7 |
| Personal Loans | 29.6 | 26.7 | 28.7 | 25.6 | 13.9 | 13.9 | 13.4 | 12.9 |
Within industry sectors which saw a sharp contraction in credit growth in Oct’24 include, ports (- 20.1%), telecommunications (-12%), mining and quarrying (-6.3%), edible oils (-4.3%) and gems and jewllery (-3.2%). Credit to cement sector moderated sharply to 0.4% in Oct’24 versus 13.5% in Oct’23. However, credit to the construction sector remained steady at 7% in Oct’24.
Credit growth to services sector:
Credit growth in the services sector also eased to 12.7% in Oct’24 from 24% in Oct’23. This was led by a sharp slowdown in credit to NBFCs which dipped to a 34-month low of 6.4% in Oct’24. This can be attributed to RBI’s regulatory intervention in terms of increased risk weights on NBFC lending by banks. In fact, banks’ credit growth to NBFCs has moderated sharply from a peak of 35.6% in Oct’22 to just 6.4% in Oct’24. On the other hand, certain segments of services such as shipping, computer software and professional services continued to see healthy demand for credit. Credit growth to the tourism and hotels segment also moderated on a YoY basis due to base effect.
Table 2: Credit growth in the services sector
| Sector | Oct-23 | Apr-24 | May-24 | Jun-24 | Jul- 24 | Aug-24 | Sep-24 | Oct-24 |
| Services | 24.0 | 22.0 | 23.2 | 17.4 | 14.5 | 13.9 | 13.7 | 12.7 |
| –Transport Operators | 22.9 | 19.5 | 23.7 | 18.7 | 19.7 | 18.1 | 17.0 | 15.0 |
| –Computer Software | -1.8 | -0.8 | 5.7 | 13.1 | 20.0 | 21.9 | 23.2 | 24.0 |
| — Tourism, Hotels and
Restaurants |
11.5 | 10.4 | 14.1 | 11.2 | 8.6 | 9.0 | 3.9 | 5.4 |
| –Shipping | -11.1 | 2.4 | 5.1 | -3.7 | 1.4 | 10.4 | 7.9 | 17.6 |
| –Aviation | 68.8 | 52.4 | 46.9 | 9.1 | 12.5 | 14.8 | 13.4 | 17.1 |
| –Professional Services | 19.3 | 23.4 | 27.9 | 14.7 | 16.8 | 16.9 | 16.7 | 21.6 |
| –Trade | 20.7 | 14.8 | 17.7 | 14.8 | 15.5 | 15.5 | 14.3 | 12.4 |
| -Wholesale | 20.6 | 16.3 | 18.3 | 15.1 | 15.0 | 17.8 | 17.6 | 14.4 |
| -Retail | 20.8 | 13.3 | 17.1 | 14.4 | 15.9 | 13.1 | 10.9 | 10.2 |
| –Commercial Real Estate | 42.2 | 42.2 | 45.3 | 40.7 | 10.8 | 13.1 | 12.5 | 13.9 |
| –NBFCs | 18.3 | 15.3 | 16.0 | 8.5 | 12.7 | 11.9 | 9.5 | 6.4 |
| -HFCs | 2.0 | 4.0 | 3.8 | -1.6 | 0.6 | 3.4 | 5.1 | -0.3 |
| -PFIs | 12.1 | 30.5 | 29.0 | 2.3 | 11.0 | 9.8 | 5.2 | 4.1 |
| –Others | 32.1 | 35.4 | 32.3 | 27.6 | 17.0 | 14.5 | 19.7 | 20.7 |
Credit growth to retail sector:
Mirroring the trend seen across sectors, retail credit growth also eased to 12.9% in Oct’24 from 29.6% in Oct’23. Within this segment, whereas the demand for unsecured lending through other personal loans/credit car outstanding has moderated, there has been a pickup in gold loans. In fact, advances against gold jewellery have increased from a mere 12% at the start of the fiscal year to 56.2% in Oct’24. While a part of this can be explained by higher gold prices, it is also likely that there has been some substitution from the unsecured segment, especially after RBI’s regulatory crackdown in Nov’23. Higher inflation and an increase in living costs can also explain some part of the higher need for credit by households. Traditional segments of retail credit, such as education, housing and vehicle loans have witnessed a significant moderation in Oct’24.
Table 3: Trends in credit to retail segment
| Sector | Oct-23 | Apr-24 | May-24 | Jun-24 | Jul-24 | Aug-24 | Sep-24 | Oct-24 |
| Personal Loans | 29.6 | 26.7 | 28.7 | 25.6 | 13.9 | 13.9 | 13.4 | 12.9 |
| –Consumer Durables | 7.6 | 11.0 | 15.0 | 7.6 | 11.3 | 10.1 | 8.6 | 6.6 |
| –Housing | 36.6 | 36.7 | 38.7 | 36.3 | 12.8 | 13.1 | 12.6 | 12.1 |
| –Advances against FDs | 17.0 | 7.8 | 10.1 | 4.0 | 8.9 | 8.4 | 9.4 | 10.9 |
| –Advances against Share,
Bonds, etc |
-5.6 | 17.8 | 21.6 | 19.3 | 24.5 | 26.8 | 22.9 | 16.0 |
| –Credit Card Outstanding | 28.0 | 23.0 | 26.2 | 23.3 | 22.0 | 19.9 | 18.0 | 16.9 |
| –Education | 20.7 | 22.8 | 24.2 | 20.0 | 19.0 | 18.4 | 17.6 | 17.6 |
| –Vehicle | 20.0 | 16.9 | 17.9 | 14.9 | 14.0 | 13.9 | 13.3 | 11.4 |
| –Loans against Gold Jewellery | 13.1 | 12.0 | 29.7 | 30.5 | 39.0 | 40.9 | 51.0 | 56.2 |
| –Others | 25.5 | 18.0 | 19.3 | 15.2 | 12.8 | 12.5 | 11.4 | 10.9 |
Movement in interest rates:
There has been an increase in WALR across banks in Oct’24 vis-à-vis Sep’24, even as deposit rates have declined. For SCBs, the WALR has increased by 17bps to 9.54%, a 6-month high. This has been led majorly by PSBs which saw a 14bps increase in WLAR to 8.71%. For PVBs, the increase was modest at 4bps. However, PVBs continue to charge a higher WALR than PSBs. In FYTD25, WALR across banks has increased even as transmission of RBI’s rate hike is still lagged.
Table 4: Trends in credit to retail segment
| Rate on Fresh loans/deposits | Apr-24 | May-24 | Jun-24 | Jul-24 | Aug-24 | Sep-24 | Oct-24 |
| WALR | |||||||
| –PSBs | 8.85 | 8.60 | 8.46 | 8.55 | 8.60 | 8.57 | 8.71 |
| –PVBs | 10.13 | 10.13 | 10.31 | 10.34 | 10.19 | 10.33 | 10.35 |
| –SCBs | 9.55 | 9.39 | 9.32 | 9.40 | 9.41 | 9.37 | 9.54 |
| WADTDR | |||||||
| –PSBs | 6.72 | 6.77 | 6.85 | 6.94 | 6.97 | 7.02 | 6.90 |
| –PVBs | 6.57 | 6.51 | 6.44 | 6.44 | 6.40 | 6.52 | 6.48 |
| –SCBs | 6.48 | 6.47 | 6.46 | 6.48 | 6.46 | 6.54 | 6.44 |
For deposit rates, there has been a decline in WADTDR on fresh rupee term deposits across banks in Oct’24 on a sequential basis. WADTDR for SCBs has declined by 10bps sequentially, led by PSBs which have noted a 12bps decline. On the other hand, PVBs have only lowered the WADTDR by 4bps to 6.48%. In FYTD25, there has been an 18bps reduction in SCBs’ WADTDR, led by PVBs (lower by 13bps). On the other hand, PSBs have only lowered WADTDR by 7bps. However, in terms of transmission of rate hikes, the transmission is complete for PSBs, even as PVBs have been lagging.
3, Dec 2024
The Akshaya Patra Foundation Joins Forces with Food4Education as ‘Knowledge Partner’ to Expand School Feeding Initiatives Across Kenya
Bengaluru – December, 03 2024: The Akshaya Patra Foundation, the world’s largest NGO-run school meal program and an implementation partner of the PM POSHAN program based in Bangalore, India, is pleased to announce a transformative partnership with Food4Education, a Kenya-based nonprofit dedicated to mainstreaming school feeding programs across Africa. Signed a Memorandum of Understanding (MoU) last week, wherein The Akshaya Patra Foundation goes global by becoming the official ‘Knowledge Partner’ for Kenya’s Food4Education. The two organizations set out to accelerate global efforts toward food security and educational empowerment, marking a significant step in addressing one of the most pressing challenges faced by school children worldwide: access to nutritious meals.
Food4Education and Akshaya Patra share a unified vision of delivering school feeding at scale in their respective continents. The Akshaya Patra Foundation currently feeds 2.25 Million in India daily & Food4Education serves over 4,50,000 children in Africa daily.
The initiative will also facilitate immersive exchanges between team members, fostering mutual learning and driving innovation in school feeding programs.
“This partnership is more than just bilateral cooperation; it serves as a transformational model for international collaboration in school feeding, showcasing how locally-rooted strategies can influence international policies on child nutrition,” said Wawira Njiru, Founder and CEO of Food4Education. “By highlighting the effectiveness of community-driven, scalable, and sustainable feeding initiatives, we hope to inspire further cross-border partnerships and initiatives, whether local, national or regional” she added.
Celebrating the occasion, Sri. Chanchalapathi Dasa, Co-Founder and Vice Chairman of The Akshaya Patra Foundation, stated, “As Akshaya Patra enters its 25th year in the service of children in partnership with the government, we feel both proud and humbled looking back at what we have achieved. Today, we add yet another chapter to our history as we collaborate with Food4Education and take a step towards expanding our mission to nourish and empower children. Both, Akshaya Patra and Food4Education have a firm belief in the transformative power of education as well as the power of a school meal to bring children to school. Food4Education is doing remarkable work in the school feeding space in Kenya under the able leadership of Ms. Wawira Njiru. By combining our expertise in school feeding programmes, we will be able to ensure that every child has the opportunity to thrive in a healthy and supportive environment.”
3, Dec 2024
Merino Showcases ‘Be Different’ Approach at FOAID 2024: Innovative Products for Diverse and Evolving Needs
New Delhi, India – 03 December 2024 – Merino Industries Ltd., a global leader in decorative laminates and surface solutions, captivated the audience at FOAID 2024, held on November 22nd and 23rd at NSIC Grounds, Okhla, New Delhi. The event brought together architects, designers, and industry professionals to witness innovative breakthroughs in surface and design solutions.
Merino drew widespread attention with its meticulously designed 5m x 10m booth, a testament to thoughtful curation and innovative presentation. The display also spotlighted an impressive line-up of products, including, Luvih, Fabwood, Merino Engineered Floors, and MRS, among others. Each collection underscored Merino’s dedication to pushing the boundaries of innovation, delivering exceptional craftsmanship, and redefining contemporary design standards. Merino Acrolam and Sampada collections were the new highlights that generated a lot of interest at the display.
Its first-ever acrylic laminate collection, Merino Acrolam, set a new benchmark in surface solutions. This innovative range introduces true acrylic colors with a homogenous structure, ensuring deep unicore shades free of visible white edges when cut. Unlike conventional film-based acrylics, Merino Acrolam boasts resistance to yellowing, delivering vibrant, fade-proof colors that stand the test of time. With an ultra-gloss finish offering a mirror-like shine; it exudes luxury while ensuring durability through features like 6H scratch resistance and UV protection. Crafted in Europe using cutting-edge technology, its advanced corona bonding allows seamless full-height applications, making it a perfect blend of sophistication and functionality. Easy to maintain and designed for modern aesthetics, Merino Acrolam is a testament to enduring elegance and superior performance.
The Sampada Collection, a tribute to India’s rich heritage, also stood out as a highlight at the exhibition. Featuring designs inspired by traditional Indian art forms, Sampada merges cultural elegance with modern functionality, making a strong impression on visitors seeking distinctive interior solutions.
FOAID 2024 offered attendees opportunities to engage with industry experts and explore emerging trends. Reflecting on Merino’s participation, Mr. Manoj Lohia, Director of Merino Industries Ltd., said, “FOAID 2024 was an excellent platform to connect with the design community and demonstrate our commitment to blending tradition with innovation. Merino Acrolam & Sampada showcases our dedication to pushing the boundaries of design and functionality. They reflect the evolving aspirations of modern interior design, and we are proud to lead this transformation.”
Merino’s presence at FOAID 2024 reinforced its reputation for innovation, sustainability, and excellence in the interior solutions industry, setting a new benchmark for thoughtful design and advanced functionality.
3, Dec 2024
Amazon MX Player’s Badtameez Dil bags silver at The Clios Entertainment Awards 2024
Mumbai, 3 December 2024: Amazon MX Player’s, Amazon’s free video streaming service, romantic drama Badtameez Dil has added another feather to its cap. The series has achieved a monumental milestone by winning the Silver award at The Clios Entertainment Awards 2024, held at the iconic Dolby Theatre in Los Angeles. This international recognition highlights the series’ unparalleled marketing innovation and its profound impact on audiences worldwide.
The “Karan Badtameez Hai” campaign, at the heart of this success, turned the protagonist’s common name, Karan, into a rallying point for conversations worldwide. The campaign began with actress Ridhi Dogra posting about her character’s heartbreak on Instagram, asking fans to share their own experiences with “Karan.” This relatable narrative struck a chord with audiences, who quickly flooded social media with posts tagging Karans from their own lives. The buzz amplified when celebrities like Karan Wahi, Karan Jotwani and Karan Singh Bora joined in, turning the phrase into a viral trend. The campaign reached its peak with the reveal of the real Karan, unveiled through the much-anticipated trailer of Badtameez Dil.
Aruna Daryanani, Business Head and Director, Amazon MX Player, shared, “We are incredibly proud to have Badtameez Dil recognized with a Silver award at The Clios Entertainment Awards 2024. This honor reflects the immense creativity and hard work of our entire team and partners. The campaign’s success, especially the viral impact of ‘Karan Badtameez Hai’ underscores the power of connecting with audiences on a personal level. At Amazon MX Player, we continue to push the envelope in content creation and marketing innovation, and this recognition inspires us to keep delivering unique and unforgettable experiences for our viewers.”
Winning at The CLIO not only acknowledges the campaign’s brilliance but also reflects the widespread appeal of Badtameez Dil. Since its release on June 9, 2023, the series has charmed audiences with its modern take on romance, featuring stellar performances by Ridhi Dogra, Barun Sobti, Mallika Dua, and Minissha Lamba. Set against the stunning backdrop of London and complemented by three soulful tracks, the series has received widespread acclaim for its gripping storytelling and modern romance.
