29, Dec 2023
Why 2024 will be an inflection point for health insurance in India – Mr. Anuj Parekh – co-founder and CEO at Bharatsure
“With nearly 90 Crore Indians still without a health Insurance cover, there is a wider push to cover the missing middle. While there has been enough talk about covering this number, there are 2 major developments that will prove to be an inflection point for health insurance in India – Health Claims Exchange and ABHA. This year saw the launch and adoption of Health Claims Exchange and this promises to be a game-changer. It is a tech-enabled platform for exchanging claims-related information among insurance companies, claimants or beneficiaries and regulators, among others. This digital highway streamlines medical claim processing, reducing frauds, cutting paperwork and processing times. It won’t be surprising if this becomes widely implemented in 2024 to simplify your claim journey. ABHA, an Aadhaar like identity for Indians for healthcare has seen almost 50 Crore Indians register and get their digital healthcare identities. While there has not been a major use case around for ABHA till now, there seem to be enough critical mass to start implementing seamless delivery around insurance and healthcare in 2024. There are other developments proposed by IRDAI – BIMA Sugam – an exchange for policies and, reformed insurer and intermediary regulations that will add to the industry growth. However, concerns still remain over the increasing health insurance costs that are expected to rise even higher next year.”
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- By Rabindra
29, Dec 2023
Honeywell Wins Bid to Implement Building Management and Safety Technology for Reliance Life Sciences
New Delhi, India, December 29th, 2023: Honeywell Automation India Limited (NSE:HONAUT) today announced that its Honeywell Building Solutions business has secured a contract from Reliance Life Sciences (RLS) for building management and safety technology.
Honeywell will assist Reliance Life Sciences with supply, installation, testing and commissioning of integrated building management command and control and environment monitoring systems. It will also integrate its current fire detection and voice evacuation systems with Honeywell Connected Life Safety Services (CLSS), for its multiple plants at Nashik, Maharashtra, India. Honeywell’s contract with Reliance Life Sciences encompasses a seven-year annual maintenance support commitment, providing sustained operational excellence.
“Honeywell is proud to partner with Reliance Life Sciences in its automation journey. Under the project, we will integrate and deploy Honeywell’s Enterprise Buildings Integrator (EBI) Command Control Suite and CLSS making it a significant win in the pharmaceutical vertical. Our superior building management and safety technology will enhance the overall safety, efficiency and sustainability across RLS” said Ashish Modi, President, Honeywell India.
Honeywell’s EBI Command and Control Suite empowers Reliance Life Sciences with a comprehensive overview of its building management and security systems that is seamlessly consolidated within a unified dashboard. This integration allows Reliance Life Sciences to oversee numerous operations and stations across a 160-acre facility more efficiently.
Honeywell’s CLSS cloud platform integrates data for secure, compliant, and efficient fire system management, offering connectivity, intelligence, and remote monitoring.
“Reliance Life Sciences has had a long-standing relationship with Honeywell in building- management technology solutions and is pleased to graduate this to the next-generation technology of connected life-safety services, and on a larger scale involving multiple manufacturing facilities in its second life sciences campus project at Nashik.” said K.V. Subramaniam, President, Reliance Life Sciences.
29, Dec 2023
Year-End quote | Ennoventure
Balaji Baktha, Founder, President, CEO, and Chairman
Balaji Baktha is the Founder and CEO of Ventana Micro Systems, a leader in high-performance RISC-Vprocessors. He is nexperienced semiconductor executive and a serial technology entrepreneur and investor with a proven track record in founding and exiting several successful startups over more than 30 years in Silicon Valley. Balaji is a board member of RISC-V International as well as several other startups, and a Limited Partner and Senior Advisor at PE and VC funds.
Prior to Ventana, Balaji was the founder and CEO of Veloce Technologies, the world’s first 64-bit ARM based high performance processor for cloud-compute (acquired by AppliedMicro). Before Veloce, Balaji was the VP and GM of the Communications Business at Marvell Semiconductor where he managed multiple product groups including compute, wired and wireless networking, and Enterprise Storage SoCs. Before Marvell, Balaji co-founded Platys, a startup that pioneered iSCSI storage networking and was subsequently acquired by Adaptec (now Microsemi). Prior to Platys, Balaji founded Shuttle Technologies (acquired by SCM Micro) to build the first digital media & storage I/O SoCs for Apple, Sony, and HP.
29, Dec 2023
Made in India Blockchain Cold Wallet becomes the highest rated hardware wallet in the World
New Delhi, 29th December 2023, Cypherock, the pioneering web3 security startup, proudly announces that its groundbreaking product, the Cypherock X1 hardware wallet, has been awarded an exceptional rating of 4.8/5 by Coin Bureau, the foremost influencer in the web3 and blockchain space. This achievement marks the highest rating ever bestowed by Coin Bureau upon a cold wallet.
Established in 2019 by Rohan Agarwal and Vipul Saini, Cypherock is on a mission to empower individuals with self-sovereignty, offering unprecedented control over their Cryptocurrencies and digital assets like NFTs. The Cypherock X1, designed to revolutionize private key management, addresses the core challenges faced by current crypto wallet solutions.
Notably, the Cypherock X1 stands out as a proudly Made in India hardware wallet, contributing to the growing recognition of India’s capabilities in the electronics and technology sector. This accomplishment is particularly significant in an industry where few global electronic gadgets are recognized as Made in India.
In a comprehensive review, Coin Bureau lauded the Cypherock X1 for its exceptional features and innovative design:
“Cypherock X1 is a hardware wallet employing encrypted NFC-based cards to store users’ private keys and seed phrases. It offers an industry-leading secure option for those looking to protect their assets and mitigate the risks associated with seed phrases. With portfolio management and the ability to act as a seed phrase vault for up to 4 wallets, the Cypherock is one of the most secure wallets we’ve reviewed!” – Coin Bureau.
Cypherock X1 is an open-source hardware wallet for secure crypto storage, embracing transparency and providing users access to the codebase for scrutiny and verification. The wallet underwent rigorous audits by leading security firms KeyLabs and WalletScrutiny, cementing its position as the world’s best hardware wallet for crypto storage. The Cypherock X1 cold wallet eliminates risks associated with seed phrase backups, offering enhanced security against potential vulnerabilities or a single point of failure. With Cypherock X1, there’s no need for a seed phrase backup like metal or paper backups. Having said that, in case of emergencies, users can still extract their recovery phrase, ensuring access to their funds. Users can import seed phrases of up-to 4 wallets and use Cypherock X1 as a seed phrase backup. Not only this, users can also manage portfolios of all these wallets in a single app designed and developed by Cypherock. With a user-friendly interface, the Cypherock X1 hardware wallet is accessible to both beginners and experienced users.
Implementing Shamir Secret Sharing, the wallet enhances private key security by decentralizing cryptographic parts across multiple components – 4 X1 cards and 1 vault device. Users need to fetch any one of their four X1 cards and tap it on the vault device to make the transaction. Losing 1 or 2 components doesn’t mean losing funds. The Cypherock X1 features EAL6+ security certification with dual-chip architecture, an OLED display, and a joystick for offline transaction verification, ensuring bank-grade security. The wallet seamlessly integrates with WalletConnect, facilitating connections with favorite dApps for DeFi activities.
Rohan Agarwal, Co-founder and CEO of Cypherock expressed his gratitude, stating, “We are honored to receive this exceptional rating from Coin Bureau. It validates our relentless pursuit of excellence in redefining crypto security and empowering individuals with true self-sovereignty. We are also proud to be a part of the ‘Make in India’ initiative, showcasing the innovation and quality that India brings to the global tech landscape.”
Vipul Saini, Co-founder and CTO of Cypherock urges users to prioritize asset and data security by switching from centralized exchanges to secure hardware wallets. Emphasizing the Coin Bureau rating, security audit by Keylabs as testaments to their commitment to security, Saini states, “Our mission is to empower individuals with control over their crypto assets and personal data, and hardware wallets like Cypherock X1 are a crucial step towards achieving that goal.”
28, Dec 2023
Festive Soiree: Pride Plaza Hotel, Aerocity, New Delhi Presents Extravagant Christmas Eve Dinner & Christmas Brunch Celebration.
Pride Plaza Hotel, Aerocity, New Delhi presents an extravagant Christmas Eve dinner and Christmas brunch celebration. Buckle up for a festive soiree and experience the magic of Christmas with two days of luxurious festivities at Pride Cafe – an enchanting Christmas Eve dinner on 24th December, 2023, followed by a sensational Christmas brunch on 25th December, 2023. This celebration promises a thrilling experience, blending tradition and merriment for an immersive event.
Patrons can immerse themselves in a wonderland at Cafe Pride for a festive journey, where the ambiance radiates joy for Christmas. Indulge in a scrumptious dinner on 24th December, amidst an elaborate spread featuring the finest culinary delights, surrounded by enchanting decor that enfolds the magic of the season. On the following day, 25th December, the celebration continues with a Christmas Brunch Delight. Guests can relish an opulent brunch experience against the backdrop of festive cheer and live entertainment. The extensive buffet and soft beverages promise a delightful culinary journey, making it a memorable day filled with joyous moments.
The pinnacle of both events ensures an exquisite celebration featuring meticulously curated menus, live entertainment, and an ambiance that beautifully encapsulates the essence of the holiday season. Patrons are invited to bask in the warmth of the festivities, crafting cherished memories with their loved ones.
Christmas Eve Extravaganza
Date: 24th December, 2023
Time: 07:00 PM onwards
Venue: Cafe Pride
Christmas Brunch Delight
Date: 25th December, 2023
Time: 11:00 AM to 4:00 PM
Venue: Cafe Pride
28, Dec 2023
Mumbai, Pune, and Hyderabad Spearhead Property Market Searches in India: Housing.com Report
Mumbai, December 28th 2023: Housing.com’s latest report, leveraging extensive data analysis of online homebuyer activity, positions Mumbai, Pune, and Hyderabad as the driving forces in the Indian residential real estate sector’s anticipated continued growth in 2024. These cities are highlighted as the epicentres of intensified market activity, poised to significantly shape the sector’s narrative in the upcoming months.
Encouraging Signals from Housing.com’s IRIS Index The IRIS index (Buy) from Housing.com, a key indicator of future demand in India’s major cities, is trending at 131 points in December 2023, achieving 83 percent of its historical peak. This trend is indicative of a positive market outlook for the forthcoming months.
2024 Trends: Increased Demand for Larger Homes The trend towards larger home configurations, especially 3+BHK apartments, is gaining momentum. Search queries for these spacious layouts have escalated sixfold year-over-year in 2023, indicating a shift towards larger living spaces.
Luxury Living Gains Traction: High-End Apartments in the Spotlight for 2024 The demand for luxury apartments, particularly in the INR 1-2 crore bracket and above, is expected to soar in 2024. This segment has seen a remarkable 7.5 times increase in online property search volume year-over-year in 2023.
Mr. Dhruv Agarwala, Group CEO, Housing.com, PropTiger.com, & Makaan.com said “2023 stands as a landmark year in the Indian real estate sector, characterised by exceptional growth and resilience. Despite challenges like elevated interest rates and global uncertainties, the industry has demonstrated robustness. The RBI’s decision to pause rate hikes in April, coupled with pent-up post-pandemic demand, has significantly bolstered buyer confidence. A noticeable uptick in residential demand is evident across various market segments, heralding a promising 2024.”
Ms. Ankita Sood, Head of Research, Housing.com, PropTiger.com, & Makaan.com said “2024 is well poised for taking the sector forward. We expect good momentum in both property buying and renting as our IRIS index which tracks upcoming demand, estimates northbound movement. Property prices surged 15-20% from pre-COVID levels and monthly rents, saw a spike of 25-50% in key areas of cities driven by the service industry. We see that growth for 2024 will not just be limited to the metros, but be driven by the Tier-2 cities as newfound economic and realty epicentres.”
Localities to watch-out for in 2024 Localities such as Greater Noida West (Greater Noida), Mira Road East, Malad West (Mumbai), Kondapur (Hyderabad), and Whitefield (Bengaluru) took highest share in online high-intent home buying activity on our portal.
For January-December 2023, the top 10 trending localities on Housing.com for home buying were:
| Rank | Top-10 most searched localities |
| 1 | Greater Noida West (Greater Noida) |
| 2 | Mira Road East (Mumbai) |
| 3 | Wakad (Pune) |
| 4 | Malad West (Mumbai) |
| 5 | Whitefield (Bengaluru) |
| 6 | Kandivali West (Mumbai) |
| 7 | Borivali West (Mumbai) |
| 8 | Wagholi (Pune) |
| 9 | Electronic City (Bengaluru) |
| 10 | Baner (Pune) |
Rental Market and Emerging Trends in Tier II Cities Online search trends indicate that the rental market is predicted to experience significant growth in 2024, especially in Gurugram, Mumbai, Bengaluru, and Pune, driven by the resumption of back to office work policies. Rent appreciation in these cities’ key areas have ranged from 25-50 percent above pre-pandemic levels in 2023.
Additionally, Tier II cities such as Jaipur, Indore, Lucknow, Mohali, and Vadodara are emerging as substantial markets for residential activity, as indicated by their highest year-on-year growth in online property search volume for buying.
Significance of Gated Communities and Consumer Sentiment Gated communities with ready-to-move-in properties are expected to play a crucial role in home purchases in 2024. Further, according to the Consumer Sentiment Outlook, a majority of homebuyers also show a preference for direct purchases from developers, indicating a renewed trust towards new property developments as compared to resale properties.
In conclusion, these trends depict a vibrant and evolving landscape of homebuyer preferences and expectations in India’s residential real estate market for 2024. This comprehensive analysis offers valuable insights for both homebuyers and developers, enabling well-informed decision-making in a dynamic market environment.
28, Dec 2023
Charting India’s Employment Odyssey: 2023-2024 Unveiled
The Indian hiring ecosystem in 2023 witnessed a mixed chain of reaction. The overall intent to hire decreased from 51% in Q2 FY22 to 36% by Q2 FY23. Owing to global recession and shift in business synergies, the IT sector witnessed a dip during the initial quarters of this year. In fact, in Q1 FY24, IT witnessed the sharpest contraction in headcount in the last three years as companies were experiencing the heat of the slowdown in projects.
The employment landscape in India faced a challenging scenario characterized by significant layoffs initiated by major corporations. Among the various sectors affected, the technology sector experienced the most severe impact, closely followed by e-commerce, finance, and education. Several factors contributed to these layoffs, including the global economic slowdown, ongoing conflicts, increasing inflation, and a downturn in funding within the startup ecosystem.
However, in Q2 FY24, the key IT firms reported a 3-10% average increase in their net profits. The positive growth trajectory was largely influenced by IT players securing strong new wins, expanding multi-year renewals with existing clients, and growing investment into technology, etc. Despite the initial slowdown some of the skill sets which continued to shine in prominence in this segment included software development (with 28% demand), SAP expertise (12 % demand), automotive design (14% demand), and testing skills (12% demand).
Amidst the burgeoning expansion of the sunrise sector within the Indian economic landscape, the overall hiring sentiment remained notably optimistic throughout the course of the year 2023. Specifically, domains such as Electric Vehicles (EVs) constitute highly technical industries, and there is a strong demand for skilled talent in areas such as engineering, manufacturing, and research and development. In addition to traditional engineering and manufacturing roles, the EV sector is also creating new job roles in areas such as battery technology, charging infrastructure, and software development. Overall, it has been estimated to have witnessed a growth of 40-45% of jobs in 2023 as compared to 2022 and in 2024, hiring is further expected to surge by 15-20% in the coming year.
Furthermore, corporations are progressively directing their attention towards fostering diversity and inclusivity within their recruitment strategies. This shift is propelled by various factors, including the growing awareness of the benefits of a diverse workforce and the increasing number of women and other underrepresented groups entering the workforce. Throughout the year, there was an evident rise of 26% in diversity-focused hiring compared to the preceding year of 2022.
The third quarter of this fiscal is bringing a favorable outlook. Promising prospects are foreseen in green technology, electric vehicles, and an increased emphasis on AI and cybersecurity. IT enterprises are actively searching for proficient experts to make the most of these opportunities. Furthermore, IT firms foresee a strong hiring expectation, estimating an increase of approximately 8-10% in Q3FY24.
Anticipations for 2024 are optimistic on both technological and non-technological fronts in the realm of hiring. Reports indicate that IT hiring is expected to gain momentum in the early months of the calendar Year 2024, driven by the increasing adoption of new technologies such as big data, cloud computing, and artificial intelligence. Overall hiring in the IT sector is expected to surge by 12-15% in CY 2024, especially due to the surge in GCCs and global economy settling down comparatively. From a quarter perspective the initial quarter will notice an average 8-10% growth in hiring, followed by Q2 and Q4 demand percentage rising up to 12-14%.
Some of the most in-demand IT skills in 2024 are expected to include, AI/ML Experts, DevOps Specialists, Full Stack Developers, Cybersecurity Experts, Blockchain Developers, Cloud Architects, UI/UX Designers, and so on. Emphasizing upskilling and reskilling will remain a prominent objective for a majority of companies.
Top Skill Sets/ Profiles for 2024 :
| Top Skills | Average Hiring Increase Expected in 2024 |
| AI/ML | 10-12% |
| DevOps | 10-12% |
| Cybersecurity | 12-15% |
| Blockchain | 8-10% |
| Cloud Computing | 10-12% |
| UI/UX Designing | 12-15% |
| Data Science | 10-12% |
28, Dec 2023
How India Ubered in 2023 – A year in rear view
Bengaluru, 28 December 2023: As we bid goodbye to 2023, Uber India today released highlights of its annual data report – How India Ubered – encapsulating the key trends from how India moved this year.
The analysis from the trips in 2023 revealed some very interesting trends about cities with the highest number of trips, the total number of kilometers covered in Uber rides, popular travel trends in intercity travel, the city with the most late-night trips, and also several rider preferences. Backed by data and insights the report spotlights increasing relevance of ride sharing in India and efforts to create sustainable cities for the future.
The year 2023 was one that saw Indians breaking travel records, with several new rider trends emerging and evolving the way people move around their cities. Uber remained the favorite mobility companion through the changes, with products across categories finding love from riders. Uber trips during the year covered a record 6.8 billion kilometers, which is enough to traverse the entire 6.37-million-kilometer road network in India more than a thousand times over, or nearly thrice everyday.
Uber Auto and Uber Go continued to be the most popular products in the country, with the former pipping it’s four-wheeled sibling to the finish line. This is testament to the growing love among Indians for booking Autos through apps, a product that was historically street-hailed.
The cities with the highest number of Uber trips in 2023 are Delhi-NCR, Bangalore, Hyderabad, Mumbai, Pune, and Kolkata.
While Delhi-NCR did have the overall highest number of trips, Mumbai beat the national capital in terms of the most late-night trips booked, while Kolkata indulged in weekend travel the most. Residents of Delhi NCR used Uber for their work commute the most among all cities, and had the highest number of office-hour trips booked.
Below is an overview of insights from ‘How India Ubered in 2023’:
● Most Uber trips were booked between 6PM and 7PM
● The most popular day of the week for booking an Uber was Saturday
● The travel month of December has seen the highest number of rides being booked in a single month, with Durga Puja and the Christmas weekend being the most popular days in terms of number of trips booked.
● The wee hours of the morning, between 4AM and 5AM saw the highest number of Uber Reserve trips being booked to airports, with riders across the country not wanting to risk missing their first alarm.
● In terms of preferences for Uber Rentals rides with multiple stops, most riders opted for the 2 hour, 20 kilometer package, helping them get done with business meetings, doctor visits, and other chores.
● Uber Bus saw 74,000 first-time users experience the ease of booking a seat on a mass transit product through an app.
● Mumbai’s favorite weekend getaway Lonavala was the most frequented tourist destination in 2023 using the popular Uber Intercity.
● Indians traveled 64 million kilometers in EVs through the year, spending a total of 3.9 million hours, helping contain carbon emissions and building a greener future.
India’s Uber 6
(Top 6 cities in India with the highest number of Uber rides in 2023, in no particular order)
- Delhi NCR
- Bengaluru
- Hyderabad
- Mumbai
- Pune
- Kolkata
Fastest Cities in India (Avg speed):
(The top 5 cities in India in terms of the fastest average speeds clocked on the roads, in descending order)
- Chandigarh
- Ahmedabad
- Delhi-NCR
- Lucknow
- Mysore
India’s Top Intercity Routes
(India’s top 5 intercity routes this 2023)
- Mumbai – Pune
- Delhi – Meerut
- Lucknow – Kanpur
- Mumbai – Lonavala
- Mumbai – Nashik
Top 5 Longest Trips
(Top 5 longest Intercity trips by kilometers traveled, including round trips on Intercity)
- Jaipur- Delhi Airport- Fatehpur Sikri – Chomu (Rajasthan) – Bangaon (Haryana)
- Manesar – Dungargarh (Rajasthan) – Hisar (Haryana) – Manesar
- Manesar – Kasol (Himachal Pradesh ) – Sonipat
- Delhi – Kanpur – Delhi
- Jaipur- Anuppur (Madhya Pradesh)
Uber launched several new products and features during the year, including its flagship sustainability option Uber Green, and round trips on Uber Intercity, with each of them garnering love from riders throughout the country. The company’s journey planning product, Uber Reserve, has been enhanced using industry-leading technology, including the option to book rides up to 90 days in advance.
Over the past 10 years, Uber has become a household name in more than 125 cities across the country. The ridesharing company has provided over Rs 500 billion in earnings to more than 3 million drivers, and has helped millions of Indians go where they wanted to, just at the tap of a button.
28, Dec 2023
Tata Chemicals Organises 23rd Open Saurashtra Half Marathon
Bengaluru, 28 December 2023: Tata Chemicals Limited organised the 23rd Open Saurashtra Half Marathon in Mithapur, aiming to foster health and well-being within the local community. The event featured a 21-kilometer half marathon, a 10-kilometer run, and a 5-kilometer Fun Run. Of the 85 participants, 43 were Tata Chemicals employees. In the 10-kilometer run, 201 individuals participated, with 100 being Tata Chemicals employees and the rest from the local community.
The half marathon was flagged off by N Kamath for which Pravin Kashyap was declared the winner. Additionally, Dilipsinh Jadeja and Ramdevsinh Vadher secured the positions of runner-up and second runner-up, respectively. The company presented certificates to every participant as token of recognition.
Talking about the event N. Kamath, Chief Manufacturing Office, Tata Chemicals Limited said, “At Tata Chemicals, our commitment to our community and employees is embodied in our annual half marathon. It is a memorial to the late Shri Prabhakar, the esteemed former Mithapur plant head. With 25 years dedicated to shaping both plant and community, Shri Prabhakar’s legacy lives on in the marathon and echoes in the spirit of every participant. We extend our heartfelt gratitude to all stakeholders for their contributions to this annual celebration of vitality and well-being as we witness the impressive turnout year after year. Congratulations to all the winners.”
In 1995, Tata Chemicals initiated the marathon to perpetuate the enduring legacy of the late Shri Prabhakar. Beyond its athletic pursuits, this annual event serves as a testament to company’s commitment to fostering a strong sense of camaraderie within our community.
28, Dec 2023
Hinduja Renewables wins 140 MW solar power project in GUVNL tender
Bengaluru 28th December 2023: In a highly competitive bid, Hinduja Renewables has won a bid to set up 140MW solar power capacity in a tender issued by GUVNL at a tariff rate of INR 2.64/kWh. This has a potential to increase to 280 MW as GUVNL may allow additional capacity 140 MW by exercising the Greenshoe option.
The award is part of the Solar Tender Phase -XXII issued by GUVNL for selection of solar power developers for setting up 500 MW Solar Power Projects anywhere in India. Hinduja Renewables was one of the 4 winning developers under this tender which saw a participation from leading IPPs.
Commenting on the achievement, Sumit Pandey, CEO of Hinduja Renewables, stated, “This is a welcome addition to the recent tenders we have won this year across different central and state tenders such as NHPC and GUVNL. With this achievement, Hinduja Renewables will operate with a capacity of 1.5+ GW in the country in the coming few years. Hinduja Renewables is well on its way to creating a multi-GW suite of power capacity.”
