12, Jan 2024
90% MSMEs confident about India’s economy in 2024, reveals NeoGrowth Study
Bengaluru, January 12th, 2024: 90% MSMEs are confident that India’s economy will be resilient or will further improve in 2024, creating an enabling environment to conduct business. Further, supported by government initiatives to enhance ease of doing business and a strong consumer demand, 91% expect their profits to increase in 2024. These insights were revealed in the second edition of the NeoInsights study – ‘MSME Business Confidence Study’ for the year 2024 – released today by NeoGrowth, the MSME-focused NBFC in India, leveraging the digital ecosystem.
The study, which has analyzed responses from nearly 3,000 MSMEs from 25+ top cities in India, highlighted the continued confidence of small businesses in India’s economy, their preparedness to meet consumer demand, and the strategies they planned to implement in 2024 to drive business growth.
Arun Nayyar, Managing Director and CEO of NeoGrowth said: “Similar to 2023, MSMEs have continued to radiate optimism in India’s business environment. From steady growth in profits to expansion plans, their confidence portrays a vibrant picture of prospects for the country’s economic growth in 2024. India’s small businesses will continue to take center-stage in India’s growth story, and we are thrilled to be part of their journey by providing them timely credit to meet their evolving business needs.”
The Year That Was: A 2023 Lookback
In the first edition of the MSME Business Confidence Study conducted with ~3,000 MSMEs to understand their 2023 business expectations, 96% MSME owners expected their profits to increase in 2023 and 75% were optimistic of India’s economy to conduct business. In this survey conducted for the MSME Business Confidence Study 2024, despite the volatile global environment, 3 in 5 MSMEs mentioned that they have met their 2023 business targets. ~80% of women-led MSMEs achieved their business targets set for 2023.
MSMEs Thrive with Government Support in 2023
Over 40% of Micro, Small, and Medium Enterprises (MSMEs) across India experienced a major boost in 2023 with the support of diverse government schemes tailored to their needs. Notably, the manufacturing and wholesale/trade sectors emerged as the biggest beneficiaries, reaping significant benefits from these initiatives. Delhi-based MSMEs availed the benefits from government schemes the most, followed by MSMEs from Pune and Hyderabad.
Optimism Shines for India’s Economy in 2024
Overall, 90% MSMEs are confident of India’s economy in 2024. MSMEs in the wholesale/trading sector are leading the charge on economic optimism, with a resounding 95% expressing confidence in India’s robust growth trajectory for 2024. Supportive government policies and regulations coupled with robust domestic and global demand further fuel this sector’s unwavering optimism.
Retail MSMEs are very optimistic as 94% of MSME retailers expect an increase in profits in 2024. Also, 58% of MSMEs in the Trading/Wholesale segment expect their profits to increase by over 30%.
Consumer Demand Set to Surge in 2024
75% of Wholesale and Trader segment MSMEs remain bullish on consumer demand in 2024, echoing the optimism expressed in 2023. With respect to locations, Delhi is most optimistic where a whopping 87% of surveyed MSMEs anticipate a surge in consumer spending. Bangalore and Pune follow suit with impressive levels of confidence.
Strong credit requirement to continue in 2024
Nearly 60% of businesses across all sectors anticipate the need for credit in 2024. The Wholesale/Trading and Services sectors anticipate the highest demand, with a whopping 64% of businesses seeking credit to boost their operations. Notably, the appetite for loans seems strongest in metropolitan hubs such as Bangalore (88%), Pune (87%), and Delhi (84%).
MSMEs demand convenience from their lender
The top three factors for consideration while choosing a loan provider in 2024 would be quick disbursals, digitally enabled loan journey, and deal terms.
The highest number of MSMEs in Delhi would choose a lender with a digital loan process, whereas MSMEs in Pune prefer loan providers with fast approvals and disbursals.
Expansion spree expected in 2024
~60% of MSMEs plan to open new stores and offer new products or services to their customers in 2024. MSMEs in Bangalore, Delhi, and Pune have shown willingness to expand their presence in 2024. The highest number of MSMEs in the Wholesale/ Trading sector expects business and store expansion in 2024.
Positive sentiment for hiring
44% of MSMEs plan to hire more employees in 2024. Maximum hiring in 2024 is expected by MSMEs in Bangalore and Pune. Some of the focus areas for MSMEs while hiring in 2024 would be creating job opportunities for people with disabilities/ special needs, hiring from smaller towns, and increased share of women in their workforce.
MSMEs going eco-friendly
81% of MSMEs plan to adopt sustainable and eco-friendly practices in 2024. Similar to 2023, MSMEs have rated ‘going plastic-free’ as a key environment-friendly initiative of their business for 2024. In recent times, there has been a notable shift towards sustainability awareness and proactive measures to safeguard the planet.
Digital, the path ahead for MSMEs
In 2024, Indian MSMEs are gearing up for a digital revolution, with 82% planning to harness the power of online tools. This focus goes beyond just “going digital” and delves into five key areas: digital discovery (online selling), digital fulfilment (delivery partnerships and online marketplaces), digital transactions (cashless payments), digital operations (streamlining tasks like bookkeeping and ordering), and digital engagement (through google, social media and customer feedback).
“In all, this optimism across various areas of MSMEs’ businesses starting from digitization to support from government schemes is not only a mere trend but also a powerful engine for the nation’s economic ascent. The fast-evolving digital ecosystem is providing fuel for this engine, with accessible and streamlined credit options unshackling MSMEs from traditional hurdles. 2024 is poised to be a landmark year for these entrepreneurial heroes, propelling India towards its $5 trillion dream,” added Arun Nayyar, Managing Director and CEO of NeoGrowth.
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- By Rabindra
12, Jan 2024
Even an Interim Budget Can Help Real Estate
– By Akash Pharande, Managing Director – Pharande Spaces
The Indian real estate sector, particularly housing, is at a critical juncture as we approach the Union Budget for 2024-2025. Considering the forward momentum seen in 2023, alongside global economic challenges and the stagnation in affordable housing, there are several key areas the sector should focus on in its demands from the upcoming budget.
Though this is an interim budget, traditionally viewed as a stop-gap arrangement before a full-fledged budget post-general elections, it still holds significant potential for addressing immediate concerns and laying groundwork for future policies.
An interim budget, typically presented in an election year, is meant to cover the government’s expenditure for a part of the year until a new government presents the full budget. However, it is not necessarily just a stop-gap arrangement but also an opportunity for the incumbent government to outline its vision and set the tone for future policies.
Real estate stakeholders therefore look to it as an opportunity to introduce critical reforms or support measures, even if they are to be fully fleshed out in the full budget.
1. Addressing the Affordable Housing Challenge
The stagnation in affordable housing has been a critical issue over the past few years. The sector requires:
Enhanced budget allocations for existing affordable housing schemes.
Streamlining of approvals and clearances for affordable housing projects to expedite development.
Tax incentives for developers focusing on affordable housing segments.
2. Tackling Funding Issues
Liquidity crunch has been a significant challenge for real estate developers, especially post the NBFC crisis. The budget should focus on:
Measures to ease liquidity for real estate projects, possibly through dedicated funds or special windows under institutions like National Housing Bank (NHB).
Reforms or relaxations in external commercial borrowing (ECB) norms to allow more foreign capital in real estate.
Strengthening REITs (Real Estate Investment Trusts) framework to attract more investment.
3. Taxation Reforms
- Taxation remains a critical aspect of real estate investment and development. The sector’s demands include:
- Rationalization of GST rates on real estate projects. This is important. While GST aimed to simplify taxes, its structure for real estate has been complex, with issues like input tax credit causing concerns among developers.
- Rationalizing GST rates for raw materials used in affordable housing or providing input tax credit benefits can reduce the overall cost of construction, indirectly benefiting buyers.
- Additional tax deductions for homebuyers, particularly in the affordable and mid-income segments. Currently, under Section 24(b) of the Income Tax Act, taxpayers can claim a deduction on home loan interest. Increasing this limit, especially for affordable housing, would make buying homes more attractive for the lower and middle-income groups. Under Section 80C, there is a deduction for the repayment of the principal amount of home loans. Increasing this limit for affordable housing can be another incentive.
- Enhancing additional tax deductions for first-time homebuyers in the affordable housing segment can also incentivize more people to invest in property.
- Incentives for sustainable and green building practices through tax rebates.
- Providing tax deductions to those offering rental properties in the affordable segment can promote rental housing, which is a critical need in urban areas.
4. Regulatory and Policy Reforms
Policy reforms are essential for sustained growth. The sector needs:
Streamlining RERA (Real Estate Regulation Act) across states for uniformity and better compliance.
Policies promoting rental housing as a viable option, which is critical for urban areas with migrant populations.
Clarity and support for digitization in land records and transactions.
5. Focus on Infrastructure and Urban Development
- Infrastructure is the backbone of real estate growth. The budget should consider:
- Increased spending on infrastructure, particularly in tier 2 and tier 3 cities.
Policies to integrate urban development with transportation, like Transit-Oriented Development (TOD)
6. Encourage Foreign Direct Investment (FDI)
To attract more foreign investment, the budget could:
- Relax FDI norms in certain real estate segments.
- Provide clarity and stability in policies to build investor confidence.
7. Boost Sustainable Development
- With increasing focus on sustainability, the sector requires:
- Incentives for projects adhering to green building norms.
Support for innovation in sustainable materials and construction technologies.
8. Support Technology Adoption
Technology is already revolutionizing real estate. The budget should focus on:
- Incentives for adopting technology in construction and property management.
- Support for PropTech startups through funding and policy initiatives.
Without a doubt, of all the above-mentioned points, affordable housing is the segment which most needs an immediate shot in the arm. The government had set a very high expectations benchmark for it with its Housing for All target. It can go a long way in using this interim budget to set the stage for a robust comeback of this critically important segment.
12, Jan 2024
Hyderabad’s remedial educator Farida Raj comes out with a book on Multiple Sclerosis (MS), the first ever book written in India by any medical or non-medical person
Hyderabad, January 12, 2024….. Hyderabad’s mainstream teacher turned remedial educator Farida Raj comes out with a book “Unbreakable Spirit” on the lesser-known disease, Multiple Sclerosis (MS), the first ever book written in India by any medical or non-medical person. The book is slated for release later in the month.
The objective of the book the author says is to make it known to the public that with the right diagnosis, timely treatment, care and support many people can lead long, active and healthy lives.
It is a book in English for the benefit of a layman in an easy-to-read and follow format with the sole aim of creating awareness about the disease.
Farida Raj’s journey took an unexpected turn when she encountered individuals grappling with Multiple Sclerosis (MS). This encounter fuelled her passion for shedding light on this lesser-known disease. The book on MS, “UNBREAKABLE SPIRIT: NAVIGATING LIFE WITH MS,” Navigating Life with MS, stands as a testament to understanding the lives of those affected by the condition.
The book invites readers on an insightful journey into the world of living with Multiple Sclerosis. It delves into the intricacies of MS, from its fundamental aspects to its profound effects on different life stages and relationships. With chapters exploring the Basics of MS, its impact on youth, relationships, parenthood, and the challenges of Confronting fears, this book provides a holistic perspective on the physical, emotional, and psychological dimensions of MS.
Through heartfelt narratives and personal experiences, the author sheds light on the struggles and triumphs faced by those living with MS, as well as the crucial role of caregivers in this journey. As readers turn each page, they will uncover valuable insights, practical advice, and a sense of community that empowers individuals to navigate the challenges of MS. The book not only fosters understanding but also offers guidance on building a supportive and empathetic network that extends beyond the confines of the condition.
Farida Raj has been recognized for her impactful work and honoured with a Lifetime Achievement Award from the Urdu Academy, Government of the State of Telangana.
Beyond her literary contributions, Farid”UNBREAKABLE SPIRIT stands as a beacon of hope for individuals with MS, their loved ones, and anyone seeking a deeper comprehension of the human spirit’s resilience in the face of adversity. It is a testament to the power of knowledge, compassion, and unity in overcoming the challenges posed by a complex condition, ultimately illuminating a path towards a richer, more connected life.
Farida is a woman of many facets. She has silently done a lot of impactful work for society.
Farida serves as an executive committee member of the Multiple Sclerosis Society of India- Hyderabad chapter (MSSI). This non-profit organisation works for the welfare of people affected by Multiple Sclerosis and is affiliated with MSIF (Multiple Sclerosis International Federation).
Multiple sclerosis (MS) is a chronic neurological disorder that affects the Central Nervous System [CNS]. It is a potentially disabling disease that is creating havoc in the lives of many families.
Though its prevalence was higher in the West, now there is a rise in these cases in India. Eight to nine people per one lakh population is estimated to be suffering from MS. India has a disease burden of roughly 2.5 lakh. The number is estimated to be higher than stated, as not many people are diagnosed due to the lack of awareness. Manish Sisodia’s wife is a well-known case of multiple sclerosis currently. The Telugu states have around 200 MS patients registered with the MS Society of Hyderabad.
MS is an auto-immune disease. The awareness about this condition is inferior to the public. What many don’t know is that with the right diagnosis, timely treatment, care and support many people can lead long, active and healthy lives.
Farida Raj, a Mumbaikar relocated to Hyderabad (after marriage with Vijay Mohan Raj, a Ranji Cricketer and contemporary of Kapil Dev) and made Hyderabad her home for the past 41 years.
Farida has done a lot of work in the area of Specific Learning Difficulties (SLDs). In the past, she authored three insightful books, BREAKING THROUGH, UNDERSTANDING LEARNING DIFFICULTIES and STRUGGLING MINDS, on the subject, aiming to empower both teachers and parents in supporting their children’s learning journeys. She has contributed extensively to the B.Ed Special conducted by IGNOU and RCI.
Noticing a gap in information for women who primarily read Urdu, Farida turned her attention to the reproductive and mental health of women. She penned articles and authored three books in the Urdu language, HAMARI SEHAT KI ZAMIN, ZAVIYE ZINDAGI KE and IZTRAB- e- ZINDAGI, addressing crucial aspects of women’s well-being.
Farida Raj has been recognised for her impactful work and honoured with a Lifetime Achievement Award from the Urdu Academy, Government of the State of Telangana.
Beyond her literary contributions, Garida is a certified RE & CBT and NLP practitioner, offering psychological counselling to children, adolescents, and parents. She is an active life member of the Craft Council of Telangana, and an advocate for child protection as a member of the NGO “Break the Silence.”
11, Jan 2024
Introducing Kraft’s Newly Launched Serveware Range: A Blend of Versatility and Style
11th Jan 2024, Mumbai: Drawing on decades of experience serving Indian kitchens, Kraft an Indian tableware brand has unveiled its latest creation, the Kraft Dessert/Pudding Set. Priced at an accessible INR 990, the set is available on Amazon and the brand’s website. This 14-piece selection is exclusively tailored for dessert lovers and highlights the brand’s unwavering dedication to seamlessly blending style and functionality. Featured in the set are stackable serving bowls and cups, meticulously crafted from a durable grade of stainless steel, ensuring product longevity and making it hygienic, food-safe as well as recyclable. Kraft, which is the serveware/tableware division of Vinod Intelligent Cookware, was launched to elevate home dining experiences for customers.
The Kraft Dessert/Pudding Set is perfect for gifting on various occasions. Its thoughtfully compact design facilitates convenient storage, making it an ideal addition to pantries of all sizes. Moreover, the set’s elegant presentation adds a touch of grace to serving desserts, making it the quintessential choice for elevating celebrations and special moments. In addition to this dessert set, customers can find a diverse range of Kraft Tableware Stainless Steel Sets, including the Shehanjali 36 pc set, and the Qubic 55 pc. Dinner Set, the Pari 48 pc. Dinner Set (with several variants), and the Ceremony 51 pc. Dinner Set. Each of these products will be available online; on Amazon and the brand’s parent website.
Commenting on the launch of the new set, Sunil Agarwal, Director at Kraft said, “Our commitment to excellence in kitchenware craftsmanship is epitomised in our Kraft Serveware Range. We believe that dining should be an experience, and this collection is designed to elevate every special occasion. We’ve crafted tableware sets where elegance meets functionality, creating a canvas for your culinary creativity. Our Kraft Dessert Set makes each special moment even sweeter for our customers. Also, the Kraft Dinner Sets have garnered favourable customer reviews, with a recurring trend of reorders, particularly during festive seasons. We continue to depend on customer and market feedback for product development and innovation direction and are dedicated to meeting and exceeding our customers’ expectations.”
The Kraft Serveware product line offers budget-friendly options, with smaller sets (6 pc to 20 pc) priced between INR 2000 to INR 3000. For those seeking larger sets (40 pc to 61 pc), a comprehensive selection is available at prices ranging from INR 6000 to INR 13,000. Buyers will be able to avail of a discount of 15% on all of the sets under the Kraft serveware range. All sets are further backed by a 24-month warranty with readily available replacements in the rare event of manufacturing defects.
11, Jan 2024
Mahindra World City, Chennai signs MoU with Government of Tamil Nadu
Bengaluru, January 11, 2024: Mahindra World City Developers Limited (MWCDL) has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to enable and facilitate investments in excess of Rs 1,000 crores over the next five years. This is expected to generate employment for more than 2,000 people in the state of Tamil Nadu. This comes alongside the launch of Origins by Mahindra – Phase II at Eliambedu village in Chennai, which will be the platform for this investment.
The company has already marked its presence in the district with the successful first phase. Spanning 307 acres, Origins by Mahindra has become a preferred industrial hub for renowned Japanese and Taiwanese enterprises. Notable companies such as Yanmar Engine Manufacturing India Pvt. Ltd., Nissei Electric India Pvt. Ltd., USUI Susira International Pvt. Ltd., Mitsubishi Electric, OMRON Healthcare, Track Designs India Pvt. Ltd., INTJR Precision Technology Pvt. Ltd., Autogrip Machinery India Pvt. Ltd., Masano Seiki Pvt. Ltd, and Ashirvad Pipes Pvt. Ltd. have chosen this as their preferred location. Origins by Mahindra in Chennai is the first industrial cluster in Tamil Nadu to be awarded the prestigious IGBC Green Cities’ ‘Platinum’ rating, underscoring a commitment to sustainable and environmentally conscious industrial development.
Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Limited, said, “As we expand our footprint with Origins by Mahindra Phase – II, the Integrated Cities and Industrial Clusters (IC & IC) vertical of Mahindra Lifespaces continues to accelerate business efficiency and improve go-to-market with plug and play infrastructure. Tamil Nadu’s distinguished business environment further enhances our confidence in expanding our operations here. Mahindra Lifespaces has been an integral part of Tamil Nadu’s business landscape and we applaud the Government’s commitment to furthering business growth in the state. Our commitment to sustainable development and world-class infrastructure also aligns seamlessly with the Indian Government’s ‘Make in India’ program and India’s ambitious growth plan. By creating vibrant and integrated industrial ecosystems, we provide the ideal platform for businesses to thrive, innovate, and contribute significantly to the nation’s economic growth.”
Rajaram Pai, Chief Business Officer – Industrial, Mahindra Lifespace Developers Limited, said, “The launch of Origins by Mahindra – Phase II is a testament to the success and attractiveness of Origins by Mahindra as a destination for companies looking to establish their manufacturing units. This marks a crucial step in our business expansion and growth journey. We believe that our focus on sustainability will also attract industries that share our commitment to environmentally responsible practices and development. We are focusing on a diverse set of industries for this leg of expansion, creating a dynamic ecosystem that will contribute to the economic prosperity of Tamil Nadu and the nation at large.”
Origins by Mahindra, Chennai is situated along NH16, a part of the Golden Quadrilateral, and in close proximity to the Chennai – Bangalore Industrial Corridor (CBIC) and Chennai – Vizag Industrial Corridor (CVIC) near Ponneri, Origins by Mahindra in Chennai enjoys exceptional connectivity. With access to three major ports—Chennai, Ennore, and Kattupalli—and convenient connectivity to Chennai City’s CBD, the industrial park is ideally positioned for business success.
11, Jan 2024
‘Deepfake’ is a big challenge for the entire world: Ram Nath Kovind
Former President of India spoke at the 55th convocation of IIMC
New Delhi, January 11: Delivering the 55th Convocation Address of the Indian Institute of Mass Communication (IIMC), former President of India, Shri Ram Nath Kovind, said that ‘Deepfake’, Fake News and Misinformation poses a significant challenge for the entire world. Today, anyone can use digital means to intentionally spread misinformation. He said that journalists graduating from institutions such as IIMC have to ensure that we put up a fight against the spread of Fake News and Misinformation. IIMC Chairman Shri R. Jagannathan, Director General Dr. Anupama Bhatnagar and Additional Director General Dr. Nimish Rustagi were present on the occasion.
During the convocation held at Pragati Maidan’s Bharat Mandapam, postgraduate diploma certificates were awarded to students from the batches of 2021–22 and 2022–23 (IIMC Delhi and its Regional Centers at Dhenkanal, Aizawl, Amravati, Kottayam and Jammu). Also, 65 students from both batches were honoured with various awards.
Speaking as the Chief Guest, Shri Kovind highlighted IIMC’s recognition as a ‘Centre of Excellence’ in the field of education and training in mass communication. He emphasised the significant contribution of IIMC students to Indian journalism and mentioned the institute’s commitment to preparing students for careers in journalism.
Shri Ram Nath Kovind advised the students, who are entering the field of journalism and media, to be prepared to tackle the misuse of rapidly advancing technology. He urged them to ensure that citizens receive accurate information amidst the challenges of fake news, misinformation, and deepfakes that the nation and the world are currently facing.
Shri Kovind urged the graduating students to stay away from the trend of sensationalizing news to garner greater TRPs. He cautioned against employing such shortcuts and urged everyone to preserve the values of journalism. He asserted that the power to build a developed India by 2047 lies in the hands of the youth, and they should use this power wisely.
Director General of IIMC, Dr. Anupama Bhatnagar, expressed IIMC’s commitment to providing every student with opportunities for comprehensive development necessary for their overall growth. The convocation ceremony witnessed the participation of over 700 students, professors, officials, and others.
11, Jan 2024
Bharat Tex 2024 Unveils Strategic Alliances with Top Industry Players and Textile Associations
New Delhi, India, January 10, 2024: “Bharat Tex 2024, India’s premier global textile event, which will be held in New Delhi from February 26-29, 2024, at Bharat Mandapam and Yashobhoomi, is set to redefine industry standards. Under the esteemed patronage of the Ministry of Textiles, Government of India, and organised by a Consortium of Textile Export Promotion Councils, this event proudly announces strategic alliances with leading national and international textile associations, corporate entities and Indian states. These collaborations mark a significant leap forward, driving growth, innovation, and sustainability across the textile industry.”
Bharat Tex 2024 is proud to announce Uttar Pradesh as the ‘Partner State’ and Madhya Pradesh as the ‘Supporting Partner State’. Showcasing the regional textile heritage and progressive initiatives in the states, these partnerships are set to catalyse the textile industry, showcasing the legacy of textiles in these states. Bharat Tex 2024 onboard Aditya Birla Group as the ‘Platinum Partner’, Reliance Industries Limited as the ‘Gold Partner’, Arvind Ltd, Indorama Ventures, Trident Group and Welspun Living as ‘Silver Partners, PDS Limited as ‘Fashion Partner’, Shahi as ‘Sustainability Partner’, Chargeurs PCC as ‘Associate Partner’and WGSN as ‘Trend Partner’.
Recognized for their eminence in the textile industry across the world, the collaborations aim to reinforce the commitment of Bharat Tex 2024 to showcase innovation along with India’s rich textile legacy and introduce sustainable practices for propelling the global textile industry.
With innovation, collaboration, and the ‘Make in India’ spirit at its core, Bharat Tex 2024 is the embodiment of Hon’ble Prime Minister Narendra Modi’s 5F vision – Farm to Fibre to Factory to Fashion to Foreign. The event is envisaged to be the biggest textile event at the global level, with 3000+ exhibitors and 40,000+ visitors from over 40 countries. Bharat Tex 2024 will be a comprehensive showcase of the entire textile industry value chain, right from showcasing India’s rich cultural heritage and textile traditions to the latest technological innovations.
The domestic textile associations who have collaborated with Bharat Tex 2024 include the Confederation of Indian Textile Industry (CITI), the Southern India Mills’ Association (SIMA), the Tiruppur Export Association (TEA), the Accessories and Trims Manufacturers Association (ATMA), and the Clothing Manufacturers Association of India (CMAI), the Brands and Sourcing Leaders Association (BSLA), Yarn Ethically and Sustainably Sourced, the Southern Gujarat Chamber of Commerce and Industry (SGCCI), the Garments Exporters and manufacturers Association (GMEA), the Screen Printers’ Association of India (SPAI), the Polyester Textile Apparel Industry Association (PTAIA), the Denim Manufacturers Association (DMA), the Indian International Garment Fair (IIGF), and the Hindustan Chamber of Commerce (HCC). Revered associations from international fronts include the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the International Textile Manufacturers Federation (ITMF).
Mr H K Agarwal, Business Director, Aditya Birla Group, expressed his gratitude for the partnership by stating: “I congratulate the Government of India for supporting a first-of-its-kind premier global event dedicated to the textile sector. We are proud of our association with Bharat Tex 2024 as ‘Platinum Partners’ and look forward to a thriving future of our industry in this auspicious era of ‘Azadi Ka Amrit Kaal.”
Commenting on their collaboration with the event, Mr Rajan D. Udeshi, President- Polyester Chain, Reliance Industries Ltd, said: “We are delighted and privileged to be a key participant in the upcoming grand textile event set to unfold in India on a monumental scale. Our enthusiasm knows no bounds as we align ourselves with the 5F vision championed by our esteemed Prime Minister, a vision that is vividly coming to life through the auspices of Bharat Tex 2024.”
Mr Narendra Goenka, Chairman, Bharat Tex 2024, expressed his views on the new partnerships by saying: “We extend our heartfelt gratitude to our esteemed domestic and international textile associations and corporate partners for their invaluable collaboration in making Bharat Tex 2024 a global success. Partnerships with Uttar Pradesh and Madhya Pradesh mark a significant milestone in transforming the textile landscape and their unwavering support fortifies the fabric of our shared vision, fostering innovation and excellence within the textile industry. Together, we weave a tapestry of boundless possibilities, shaping the future of textiles on a global scale.”
Mr Bharesh Dodhia, Co-Chairman, Bharat Tex 2024, appreciated the new partnerships by stating, “As we gear up to converge at Bharat Tex 2024, our gratitude extends to all the esteemed associations and partners whose collaboration elevates this event to new heights. Their collective expertise and diverse perspectives infuse this platform with innovation and foster unparalleled growth opportunities. These collaborations will forge pathways that will not only enrich the showcase of Bharat Tex 2024 but also ripple across the global textile landscape, driving transformative advancements and inspiring industry evolution.”
Sharing his remarks on coming together for this mega textile event, Mr Rakesh Kumar, General Secretary, Bharat Tex 2024, said: “Embracing the legacy of India’s rich textile heritage and handicrafts, the Export Promotion Council of Handicrafts (EPCH) stands proud as a cornerstone of tradition and innovations. We aim to stitch a vibrant tapestry of creativity, craftsmanship, and commerce. Our commitment resonates through this showcase to foster a dynamic synergy that enriches the textile industry with cultural richness and economic growth.”
Bharat Tex 2024 stands as a testament to India’s unwavering commitment to spearhead the textile revolution on a global scale. The partnerships established underscore the significance of this event as a beacon for fostering international collaborations, pushing boundaries, and propelling the textile industry into a new era of growth and sustainability.
Bharat Tex 2024 aims to catalyse advancements that transcend geographical boundaries and amplify India’s standing as a powerhouse in the textile industry. With a focus on knowledge exchange, technological innovations, and sustainable practices, the collective efforts will redefine the landscape of the textile industry while nurturing an environment conducive to mutual growth and development. This partnership between Bharat Tex 2024 and the textile associations and leading corporate entities underscores its shared commitment to propel the textile sector towards a transformative trajectory.
Bharat Tex 2024 is a consolidated and unique platform to position and showcase India’s entire textile value chain and highlight its strengths in fashion, traditional crafts and sustainability initiatives.
11, Jan 2024
The Good Food Institute India Unveils Insights on India’s Smart Protein Sector
New Delhi, 11January 2024: The Good Food Institute India (GFI India), the central expert organization, thought leader, and convening body in the alternative protein sector, in collaboration with Kantar World Panel, unveiled a new study on consumer awareness, trial, and purchase behavior for plant-based meat and dairy today. Coinciding with the global phenomenon of Veganuary, which inspires millions to try plant-based diets every January, the report sheds light on the evolving landscape of consumer adoption of plant-based alternatives to meat and dairy. With 377 products spanning 41 formats and 73 brands, the sector has witnessed rapid growth over the past few years, presenting consumers with an array of choices in plant-based meat, dairy, and egg categories.
The study reveals that while familiarity with plant-based meat and dairy is growing, with about 30% of respondents aware of plant-based meat and 50% of plant-based dairy, the trial rates stand at 11% and 23%, respectively. However, the category exhibited strong potential for market growth, as evidenced by the high repeat purchase intentions, with 72% considering buying plant-based meat again and 82% willing to purchase plant-based dairy again. Notably, in line with global trends of environmentally conscious behavior, the report identifies a higher level of awareness and adoption interest among younger demographics, particularly in metropolitan areas and among non-vegetarians (flexitarians), compared to vegetarians and those in non-metro cities.
Interestingly, according to the report, consumption patterns reveal that plant-based options are currently consumed similarly to their animal-derived counterparts. However, the latter is consumed more regularly, with plant-based options reserved for special occasions. The study also states that taste remains a significant driver for conventional meat consumption, highlighting the need to further improve the taste of plant-based meat. Key barriers to wider adoption include taste, accessibility (affordability and availability), and perceptions of plant-based foods. This nuanced understanding of consumer behavior is crucial for stakeholders in the smart protein sector to strategize and cater to the evolving market effectively.
Rajyalakshmi G, Market and Consumer Insights Advisor at The Good Food Institute India, commented, “Our study with Kantar World Panel reveals key factors driving the growth of India’s smart protein sector. It highlights the importance of building category awareness and relevance for plant-based alternatives among consumers. To encourage trial and repeat purchases, it is crucial for manufacturers to focus on the trifecta of taste, affordability, and convenience. Like any new category, initiatives, including sampling, online campaigns, social media engagement, and strategic retail displays, can contribute significantly to greater awareness and broader adoption. Our goal is to empower manufacturers and industry players with essential consumer insights that can drive the advancement of the sector in India.”
The rising interest in global consumer-focused movements like Veganuary highlights the importance of alternative proteins to enhance participation by a wider cohort of consumers. A shift from conventional proteins to more plant-based meat, dairy, and egg alternatives will be crucial for growing economies like India in addressing global challenges such as climate change, food insecurity, and public health.
11, Jan 2024
Bahrain Tourism and Exhibitions Authority Readies for a Bustling 2024
National, 11th January 2024 – Bahrain Tourism and Exhibitions Authority (BTEA) invites global travellers to embark on a journey of discovery in 2024, positioning Bahrain as a premier travel destination. The Kingdom of Bahrain, with its strategic geographical location, offers and enticing array of attractions, events, and cultural experiences, making it the ideal choice for travellers seeking a perfect blend of relaxation, adventure and cultural exploration.
In 2024, one can expect Bahrain to stand out as a travel haven to those seeking short getaways, providing ample opportunities to enjoy the many long weekends the year holds. Noted as an evolving travel trend, multiple short getaways are being favored over traditional one or two extended breaks. Bahrain Tourism and Exhibitions Authority would actively like to tap this trend and position itself as an ideal long weekend destination from India.
As a short-haul destination, Bahrain is a quick flight away from India with great connectivity via multiple airlines and cities at highly competitive pricing. It offers a rich cultural tapestry and vibrant experiences to a diverse audience seeking a break from their daily routine. An island nation with pristine beaches, vibrant nightlife, host of luxurious hotels and progressive and hospitable locals, make for an ideal holiday with friends, family and spa-cation alike. For the adventure seekers, Bahrain offers thrilling activities such as indoor sky diving, F1-inspired karting and diving in search of real pearls which will keep visitors engaged and enthralled.
As travellers explore Bahrain in 2024, they will be captivated by the kingdom’s open and inviting culture. Bahrain seamlessly blends rich heritage with modern amenities, offering a unique experience where tradition and innovation coexist harmoniously. Bahrainis take pride in sharing their stories, traditions, and delicious cuisine with visitors, creating an immersive and unforgettable cultural experience.
11, Jan 2024
Foundation for Advancing Science and Technology (FAST) announces Fellows for the India Science Book Fellowship
11 January 2024, New Delhi: The Foundation for Advancing Science and Technology (FAST India) is delighted to announce the awardees of the prestigious India Science Book Fellowship. This year, three proposals have been selected for full fellowship – with recipients being recognised as India Science Book Fellows – and two proposals for partial fellowship.
Popular science books play an important role in enhancing public understanding and appreciation of science by conveying complex scientific concepts in simpler, more engaging ways. The India Science Book Fellowship was launched with the aim of introducing science into the public imagination. It has been a resounding success, drawing in a diverse pool of talented writers from across the country. This year’s fellowship saw an overwhelming response with over 780 registrations and over 350 abstracts submitted by applicants from IITs, IISc, Ashoka University, JNU, CSIR institutions, and many more. The applications also saw immense diversity in terms of applicants – scientists, journalists, science communicators, health professionals, and PhD students – showcasing the depth of scientific inquiry and literary talent in India.
Ashish Dhawan, Co-Founder, FAST India said, “There is enormous potential to expand the discourse around science in the public domain and mainstream public science books to engage and inspire. This innovative initiative by FAST-India encourages Indian scientists, journalists, writers, and science enthusiasts to share their unique stories and expertise with the world.”
The Fellows, chosen after a rigorous evaluation process, are set to contribute significantly to the field of science literature. Their works promise to bring forth unique perspectives and narratives, highlighting the richness and diversity of Indian science and research. They have been awarded financial grants of Rupees Ten Lakhs each.
India Science Book Fellows for this year are:
Ganesh Bagler, Associate Professor, IIIT Delhi – Making Food Computable: The Data-driven Science of Food Sarthak Parikh, Assistant Professor, IIT Delhi, & Kush Dhebar, Consultant, Department of Archaeology and Museums, Haryana – Do and Die: A Game of Quantum Cricket (Quantum Computing Explained through Cricket) Upasana Sarraju, Communications Lead at Fish Welfare Initiative (an animal welfare NGO) – Nuances in Nonsense: Quirky Science Chronicles from India and the World
Partial fellowship recipients this year are:
- Laxmi Murthy, Journalist, Hri Institute of Southasian Research and Exchange – When Feminists Met Science: A Chronicle of the Women’s Health Movement in India
- Avinandan Mukherjee, Freelance science writer, The MS University of Baroda, Vadodara – Stone Tools: A Brief History
Varun Aggarwal, Co-Founder, FAST India said, “Stephen Hawking’s books got scientists and science into the public imagination big time… We need to do the same for Indian science and scientists. Indian scientists have a unique story to tell not only to Indians but to the world. The time is NOW.”
In addition to the grant, the recipients will also benefit from feedback provided by top-tier professionals, including publishers, renowned science writers, and bestselling authors, as well as a focus group comprising members of the books’ intended audience. They will also receive support in publishing the manuscript from a publishing house and the opportunity to participate in book launch events as part of promotions to improve their visibility.
The foundation will also provide mentoring, publishing, and small grant support to 19 longlisted candidates.
This fellowship programme not only recognises their exceptional talent but also provides them with the platform and resources to share their insights and knowledge with a wider audience. The Foundation is committed to supporting these authors through their journey, ensuring that their works reach eager readers across the country and beyond. This initiative is a significant step towards enriching the landscape of science literature in India and promoting indigenous authors in the field of science communication.
The eminent panel of jury comprises renowned authors Angela Saini, Anil Seth, Jahnavi Phalkey, Pranay Lal, and Tarun Khanna, whose contributions have been truly momentous to the success of the programme. Cactus Communications is a partner and a funder for one of the selected Fellows.
