1, Aug 2024
Kalyan Jewellers’ Pledges Rs 5 Crore to Kerala Chief Minister’s Distress Relief Fund
Chandigarh, 1 August 2024: In response to the devastating flash floods and landslides that have tragically struck Wayanad, Kerala, TS Kalyanaraman, Managing Director of Kalyan Jewellers, has pledged Rs. 5 crores to the Kerala Chief Minister’s Distress Relief Fund (CMDRF). This contribution aims to provide much-needed support to the rescue, relief and rehabilitation efforts in Wayanad.
“As a company with roots in Kerala, it is heart-wrenching to see our fellow Keralites suffering due to these unexpected landslides and floods. The devastation in Wayanad has not only claimed numerous lives but also displaced families, destroyed homes, and disrupted livelihoods. Our thoughts and prayers are with those affected during this challenging time,” said Mr Kalyanaraman.
Kalyan Jewellers has a long-standing tradition of giving back to the community, and this contribution is a continuation of its ongoing efforts to support disaster relief and recovery initiatives in the state. The recent natural disaster has resulted in significant loss of life and property, with over 160 reported deaths and many more injured and missing. Rescue operations are ongoing, with multiple agencies working tirelessly to assist those in need.
“Kerala is our home and we are committed to standing with our people and contributing to the relief efforts. This is a small token of our solidarity and support to providing immediate assistance, and we are prepared to do more if the need arises,” Mr Kalyanaraman added.
The Kalyan Jewellers team extends their deepest sympathies to the families who have lost their loved ones and those who are struggling to cope with the aftermath of this disaster. They also extend their gratitude to the government authorities, rescue teams, and volunteers who have been working tirelessly to mitigate the impact of the disaster and provide relief to those in distress. The company remains committed to supporting these efforts and stands in solidarity with the people of Wayanad during this difficult period.
- 0
- By Rabindra
1, Aug 2024
The new Yezdi Adventure: The Perfect Storm of design, performance, and features
Chandigarh, 1 August 2024 – Jawa Yezdi Motorcycles is thrilled to launch the new Yezdi Adventure, re-engineered and redesigned for even bolder exploits. Prices for the new Yezdi Adventure start at Rs.2,09,900 (ex-showroom Delhi).
The Yezdi Adventure represents a perfect storm of three critical factors: exceptional design, a full load of features, and unbeatable performance. This trifecta makes it the only choice for riders seeking an adventure bike that can do it all in an accessible package.
Speaking about the motorcycle, Mr. Ashish Singh Joshi, CEO, Jawa Yezdi Motorcycles, said, “The Yezdi Adventure has always embodied perfect balance, born to conquer any terrain. Now, we’re redefining that balance. We’ve put in our new Alpha2 liquid-cooled engine, retained the six-speed gearbox, while adding crucial features like switchable ABS modes. But here’s where we truly disrupt: we’ve created the perfect trinity of bold design, advanced features, and an unbeatable performance. We have now added another layer of disruption with the price. So now, this isn’t just an upgrade – it’s a category revolution. I’m certain the new Yezdi Adventure will dominate as the ultimate choice for serious adventure riders. It’s not just a motorcycle; it’s the new benchmark in its class.”
New Engine
The Yezdi Adventure is powered by the new generation Alpha2 334cc liquid-cooled engine to deliver smoother performance, elevating the overall riding experience. This powerful engine delivers an impressive 29.6PS and 29.9Nm, ensuring that riders can tackle any terrain with confidence and ease. It also features a new centrally-mounted exhaust routing with improved performance and enhanced thermal management.
Best in Class Handling and Manoeuvrability
The new Yezdi Adventure has a new integrated main cage with new decal panels. New jerry can mounts integrate into the main cage, allowing for better balance and manoeuvrability, especially in challenging off-road conditions.
Superior Off-Road Capability
The new Yezdi Adventure also boasts class-leading 220mm ground clearance and long-travel suspension, providing superior off-road capability and touring comfort. These features ensure that the bike can handle rough terrains and obstacles with ease, making it ideal for adventure enthusiasts.
Increased Protection and Durability
Additionally, the new Yezdi Adventure now comes equipped with a robust new sump guard, offering increased protection for the engine and other critical components during rugged adventures. This feature enhances the bike’s durability and reliability, making it the perfect companion for long journeys.
New Colourways
The new Yezdi Adventure stands out with its range of fresh, bold colours, available in both matte and dual-tone shades. The new colourways available are Tornado Black, Magnite Maroon, Wolf Grey, and Glacier White allowing riders to choose a style that matches their adventurous spirit. New decal panels in the main cage and new decal patterns complete the sharp new design. These striking new colours enhance the bike’s visual appeal and reinforce its rugged, adventurous character.
Enhanced tech features
The new Yezdi Adventure is designed as the ultimate touring and off-road bike, packed with all-you-need features to make every ride exceptional. Riders will enjoy the multiple ride modes tailored for various terrains, ensuring optimal performance whether on or off the road. The bike’s onboard USB charger, Bluetooth connectivity and turn-by-turn navigation offer seamless integration with smartphones, allowing riders to stay connected and navigate effortlessly during their journeys.
Best-in-class performance is a hallmark of the new Yezdi Adventure, with its robust engine and advanced features making it a top choice for adventurers. The bike’s suspension system, braking capabilities, and ergonomic design ensure a comfortable and controlled ride, even on the toughest trails.
The new Yezdi Adventure continues to embody Jawa Yezdi Motorcycles’ commitment to combining heritage with innovation, offering a motorcycle that is both classic and contemporary. With these enhancements, the Yezdi Adventure is set to redefine the adventure riding experience. Rooted in a storied legacy, the new Yezdi Adventure upholds the heritage of the iconic Yezdi brand. This motorcycle not only carries forward the Yezdi legacy but also integrates modern advancements to deliver an unparalleled riding experience
1, Aug 2024
Mumbai witnesses 19% YoY Surge in Property Registrations in July 2024
In July 2024, the Mumbai real estate market witnessed a significant growth of over 19% in property registrations, with the numbers reaching 12,160 compared to 10,221 registrations recorded in the same month last year, as per data from Knight Frank. June 2024 also saw strong activity, with 11,673 properties registered. Additionally, stamp duty collections experienced a robust increase of more than 27%, rising to ₹1,055 crore in July 2024 from ₹832 crore in July 2023. The collections for June 2024 were ₹1,014 crore, highlighting sustained momentum in the market.
Here are a few comments from the industry experts:
Mr. Prashant Sharma, President, NAREDCO Maharashtra
“The sustained growth in property registrations in Mumbai, reflected in the impressive year-on-year increase in July 2024, underscores the resilience and robustness of the city’s real estate market. The figures demonstrate not only a strong buyer confidence but also the effectiveness of various policy initiatives and economic factors that have stimulated demand. The corresponding rise in stamp duty collections further highlights the ongoing momentum in property transactions, indicating a healthy market appetite. As we move forward, it is crucial to continue fostering an environment that supports this growth, ensuring that the real estate sector remains a key driver of economic progress in Maharashtra.”Mr. Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty and Vice President, CREDAI-MCHI
“The substantial increase in property registrations and the rise in stamp duty collections in Mumbai for July 2024 reflect a robust market rebound and growing consumer confidence. The shift towards larger residential units is indicative of evolving home buyer preferences. This trend underscores the market’s resilience and the ongoing demand for more spacious living options in Mumbai. We continue to remain optimistic about the continued growth and stability of the real estate sector in the region.”Mr. Vedanshu Kedia, Director, Prescon Group
“The substantial increase in home sales highlights the strong demand for home ownership and the priority buyers place on it. This trend is bolstered by robust economic growth, favorable mortgage rates, and a rising preference for luxury living. The appeal of upscale amenities and high-end features has particularly driven momentum in the housing market, leading to bigger homes and higher sales figures in the luxury segment.”
1, Aug 2024
Angel One invests Rs 250 cr in wealth management arm
Mumbai, August 1, 2024: Angel One Wealth Limited (AOW) is redefining wealth management for India’s affluent HNI and UHNI clientele through a synergy of domain expertise and innovative tech application. Strategically backed by Angel One, AOW is developing an omnichannel wealth-tech platform comprising three integrated business verticals – HNI, UHNI and Alternate Assets. This platform merges sophisticated investment strategies with seamless service delivery by a team of wealth managers, market strategists and technology specialists.
The landscape of wealth management is rapidly evolving, with a 16% CAGR of India’s HNI population, projected to grow to 1.65 million by 2027, as per industry reports. AOW’s strategy rests on three key pillars tailored to meet the unique needs of HNI and UHNI segments – comprehensive investment products across diverse asset classes, technology-driven accessibility for clients and support of relationship managers and top-tier talent equipped with deep market insights. By adopting this approach, AOW aims to overcome industry challenges such as barriers to innovation in investment strategies, high operational cost and higher fees using new-age tech infrastructure. The Rs 2.5 billion capital infused by Angel One will be strategically deployed to develop core technological infrastructure, leveraging AI and analytics, expand presence in key markets and develop curated, expert-led product strategies and suites.
Dinesh Thakkar, Chairman and Managing Director, Angel One Limited, said, “Through Angel One Wealth we aim to cater to an expansive spectrum of clients, by leveraging technology and stay at the forefront of innovation. The seasoned investment professionals’ team, led by Srikanth, brings strong domain knowledge enables us to capitalise on the evolving wealth landscape.”
Srikanth Subramanian, Managing Director & CEO, Angel One Wealth Limited, said, “We want to reimagine wealth management for India’s HNIs and UHNIs on the bedrock of deep domain expertise and the power of technology. We are happy to have the strategic backing of Angel One in this journey, leveraging their technological prowess. We are building an omni-channel solution that will enhance the value of a trusted wealth manager through digital infrastructure and new-age technology.”
Since the Rs 2.5 billion capital infusion, AOW has begun laying the groundwork for growth.
Key milestones include:
• To further leverage the 100 plus man-years of its in-house domain experience – An Advisory Council comprising of industry thought leaders to provide strategic guidance, a Think Tank with sector experts offering insights on macro trends and asset class positioning, a Product Approval Committee driving competitive edge and an Investment Committee overseeing investment policies and fund performance has been formed
• ~60-member team of wealth managers, investment professionals and tech experts
• 30% diversity and average age of 32yrs fostering an inclusive work culture.
• In-house fintech stack for wealth consolidation, analytics, portfolio governance and transaction execution, alongside an AI Innovation Lab to explore and implement new use cases.
1, Aug 2024
Hisense Gears Up for Western India with Strategic Expansion in Offline Market
Mumbai, 1 Auust 2024: Hisense, a well-known global entity in the consumer electronics and appliance sector, has announced a strategic initiative to broaden its market presence in the western region of India. By focusing on enhancing its retail network and launching a variety of premium products, such as televisions and air conditioners, Hisense is set to strengthen its position in this competitive region.
As part of this growth strategy, Hisense is actively collaborating with major retail and distribution partners to make advanced technology products accessible to consumers at competitive prices. Through these partnerships and a customer-centric approach, Hisense aims to tap into the significant growth potential in western India and establish itself as a top choice for consumers.
Committed to innovation, quality, and value, Hisense is determined to distinguish itself in the Indian market. With a comprehensive approach that emphasizes customer satisfaction and market reach, Hisense aims to secure a substantial market share and become a key player in the western region.
Mr. Pankaj Rana, CEO of Hisense India, commented on the expansion, stating, “India is a strategic market for us, and our channel expansion plans are designed to capture a significant market share. We are setting up over 1,000 product experience zones and partnering with leading distributors and retailers to provide our customers with platforms to experience our premium products, advanced features, and benefits firsthand.”
Hisense’s brand expansion is driven by a strong commitment to excellence and innovation in the global market. The company has cemented its status as a leading industry player, ranking second globally in TV shipments and holding the top position for 100-inch TV shipments in 2023, according to OMDIA’s global TV report. This achievement underscores the increasing trust and popularity of Hisense products among consumers worldwide.
In its brand-building strategy, Hisense has leveraged sports partnerships to forge deeper connections with its target audience. The company has sponsored major sporting events such as the UEFA EURO Championships and the FIFA World Cup 2022. Building on this success, Hisense recently announced a partnership with UEFA EURO 2024™ as an Official Partner, further enhancing its presence in the sports community.
By aligning with prestigious sporting events and consistently innovating and delivering high-quality products, Hisense is well-positioned for continued growth and success in the global market. The company’s dedication to excellence and consumer satisfaction remains steadfast as it expands its brand presence and achieves new milestones in the industry.
1, Aug 2024
NSDC Unveils Women-Led Entrepreneurship Program, Ministry of Skill Development Announces
Mumbai, August 1, 2024 – In a pivotal move towards empowering women entrepreneurs and spurring economic growth, the National Skill Development Corporation (NSDC) is excited to unveil the Women Entrepreneurship Program. This initiative, aims to tackle the challenges faced by women in entrepreneurship by offering crucial skills, knowledge, and networking opportunities.
The program has been launched with the introduction of complimentary self-learning basic entrepreneurship courses available in multiple languages on the Skill India Digital Hub (SIDH). Upon completion of these courses, participants will receive a co-branded certificate from NSDC, Britannia Industries and National Institute for Entrepreneurship and Small Business Development (NIESBUD), acknowledging their entrepreneurial skills and competencies. This initiative aims to empower approximately 25 lakh women across India, providing them with the skills, knowledge, and resources needed to start and grow successful businesses.
The initiative will culminate in a grand finale where the top 50 contestants will present their business ideas to a distinguished jury. To further encourage innovation and excellence, Britannia Industries will award financial grants of 10 lakh rupees each to 10 of the most successful contestants.
At the launch of this program, Shri Atul Kumar Tiwari, Secretary, Ministry of Skill Development & Entrepreneurship, GOI said, “It is our privilege that Britannia has partnered with us, focusing on women entrepreneurship.
We have achieved significant progress in entrepreneurship through NIESBUD and special programs with the Ministry of Tribal Affairs, Ministry of Rural Development and other ministries. We are also collaborating closely with other corporates and government departments, to provide skill training to women’s self-help groups, whether individually or collectively, and to help organize them into various business entities.
In the skilling segment, under Jan Shikshan Sansthan, 82% of our trainees are women. In the PMKVY short-term training program, close to 45% of the participants are women.”
Echoing this sentiment, Shri Ved Mani Tiwari, COO (Officiating CEO), NSDC & MD, NSDC International stated, “Today, this program is about women-led entrepreneurship and aligns with the Prime Minister’s vision for women development. One of the most important component of this is that private and public sector organisation are going together telling women to have entrepreneurial ambitions. From Beti Bachao, Beti Padhao to Lakhpati Didi, India has travelled a lot of distance when it comes to women development.”
Speaking about Britannia’s motivation to join forces with NSDC, Shri Rajneet Singh Kohli, CEO and Executive Director, Britannia Industries, said “Britannia Marie Gold’s vision is to help women entrepreneurs to soar together to do more. Our MoU with the National Skill Development Corporation is a game-changer for women’s empowerment in India. By providing free courses and advanced training to millions of aspiring women entrepreneurs, we are not just opening doors but breaking down barriers. This partnership amplifies our commitment to creating a nurturing ecosystem where women can lead, innovate, and drive our economy forward. Together, we are empowering women to reach their full potential.””
The Indian government is dedicated to supporting women entrepreneurs through opportunities for essential skills development, access to free self-learning courses, and comprehensive incubation support. This program is designed to address the distinct challenges that women face when starting and growing businesses. In partnership with Britannia Industries Limited, the initiative will also offer financial grants and feature their products and services on the Skill India Digital Hub, reflecting a strong commitment to fostering an inclusive environment for women entrepreneurs.
Aligning with the government’s commitment to fostering women’s entrepreneurship, this program will be implemented in multiple phases to ensure comprehensive support and maximum impact.
Divided into two phases, NSDC, with support from the National Institute for Entrepreneurship and Small Business Development (NIESBUD), will offer free online self-learning entrepreneurship courses through the Skill India Digital Hub (SIDH). These courses, available in multiple languages, will cover crucial topics such as entrepreneurial skills, enterprise setup, finance basics, digital skills, and market analysis.
In the next phase, NSDC extends robust incubation support to 10,000 shortlisted contestants across 100 business models. This support encompasses business model selection, entrepreneurship development programs, industrial workshops, business registration assistance, project report preparation, and guidance on funding through various government entrepreneurship and startup schemes. Additionally, participants’ products and services will be highlighted on SIDH’s e-commerce platform, UdhyamKart and Britannia’s digital ecosystem for women entrepreneurship.
NSDC will conduct periodic impact assessments to evaluate the success and sustainability of the supported businesses, ensuring the program’s long-term effectiveness.
This initiative marks a significant effort to broaden the reach and visibility of women-led enterprises, creating a supportive ecosystem that empowers women entrepreneurs to realize their full potential. The partnership between NSDC and Britannia highlights a shared commitment to cultivating an environment where women entrepreneurs can flourish and significantly contribute to India’s economic advancement
1, Aug 2024
“BHARAT- After 1303 Years, RISES THE GOLDEN BIRD” by Ajay Mishra throws light upon India’s glorious past and its revival under the leadership of Narendra Modi
A veteran of the IT & Telecom sector, Ajay Mishra has come up with another brilliant book “BHARAT- After 1303 Years, RISES THE GOLDEN BIRD“. In his latest book, Mishra takes his readers on a journey through the archives of India’s history. From its golden era to its downfall and eventual resurgence under the leadership of Prime Minister Narendra Modi, the writer has compiled all the facts meticulously.
Written in English language, this book has been Published by ‘Kitab Ghar’. This book is specially useful for people who have keen interest in India’s history because it contains a comprehensive account of Bharat’s rich history, detailing the impact of Islamic invasion and British rule, as well as the roles of key political leaders post-independence. Ajay Mishra has been actively working on various prestigious designations in the IT & Telecom sector for the past 25 years and has won many prestigious awards.
The book spectacularly integrates the history of RSS and that of India since 1925. It brings out interesting facts such as the independence of Dadar and Nagar Haveli which happened due to the initiative of the RSS and that of Goa, which India reclaimed after initiative of Indian government and support from RSS and Egypt. Ajay Mishra’s narrative is very engaging and informative, which makes the book an enjoyable read for history enthusiasts to understand the complexities of Bharat’s past.
Mishra brings out the initiatives and successes of the Modi regime which has brought the global spotlight on India’s rise. He has specifically mentioned PM Modi’s contribution to the nation in the book by praising him for restoring Bharat’s lost glory and earning global recognition.
Another interesting aspect of this book is its attention to detail, as Ajay Mishra has tried to provide a thorough examination of historical events and their consequences. Additionally, author has presented the impact and roles of Nehru, Lal Bahadur Shastri and Indira Gandhi as political leaders post-independence.
Some readers may find the book’s perspective to be somewhat one-sided, but it remains a worthwhile read for those interested in understanding the dynamics of Bharat’s past and present. Overall, “BHARAT- After 1303 Years, RISES THE GOLDEN BIRD” is a well-researched and engaging book that offers valuable insights into Bharat’s complex history with all highs and lows. This book is about the golden era of Bharat, it’s downfall and how it regains the lost glory under the leadership of PM Narendra Modi’s leadership.
1, Aug 2024
HID Partners with Inner Range to Bring Customers Wallet-Enabled Readers
BANGALORE, India – August 01, 2024 – HID®, a worldwide leader in trusted identity solutions, today announced an extended partnership with its trusted partner Inner Range, a global provider of integrated access control systems and solutions, to offer Inner Range customers a new range of SIFER credential compatible with wallet-enabled readers, based on HID’s signature line of access control readers, HID Signo®.
“The sheer opportunity to further deepen collaboration with our partners excites us. Mobile access is rapidly becoming a dominant force in reshaping the physical access security industry and we are glad to be able to extend the mobile access in wallet solution to Inner Range to solidify its position as an integrated access control solutions provider globally,” says Prabhuraj Patil, Senior Director, Physical Access Control Solutions, Asean and India Subcontinent, HID.
Patil adds, “Inner Range customers will get all the benefits of adding mobile credentials in Apple or Google Wallet (and other OEM wallets in the near future), designed for the future of workplace. I’m excited by the potential of this technology partnership, as we continue to collaborate on future projects, enabled with HID’s secured, sustainable and future-proof identity solutions.”
Leveraging HID’s wallet-enabled readers, Inner Range enriches its reader product portfolio, providing its customers an additional choice of adding HID mobile credentials in wallet, giving employees, tenants and visitors secure and easy access to office spaces, meeting rooms, printers, lockers and other facilities with a tap of their smartphone or smart watch near the Inner Range SIFER- enabled readers, powered by HID Signo. The in-wallet solution powered by HID Mobile Access provides industry leading user-experience while employing advanced encryption and security protocols to ensure that access to facilities is both safe and secure.
“We are delighted with the success of our recent collaboration with HID. At Inner Range, providing our customers with a seamless user experience is a core objective for our security solutions. Adding SIFER credential support to the HID Signo reader achieves this perfectly and provides significant opportunity for Inner Range and our channel by offering future proof solutions that incorporates both our technologies,” says Gabriel Daher, VP and GM of Inner Range.
Daher adds, “This strategic partnership is a significant milestone that underscores our commitment to leveraging cutting-edge technology to deliver exceptional value to our customers. We are excited to share this groundbreaking news with our current and prospective clients, confident that it will exceed their expectations. As we continue to strengthen our alliance with HID, we are eager to embark on future projects that promise to harness the full potential of HID technology, with details to be revealed in due course.”
1, Aug 2024
IIT Roorkee, in Partnership with C-DOT and IIT Mandi, Commits to Develop Cell-Free 6G Network
August 1, 2024: In a significant step towards developing Indigenous state-of-the-art next-generation telecommunications technology, the Indian Institute of Technology Roorkee (IIT Roorkee) in collaboration with Indian Institute of Technology, Mandi (IIT Mandi) has signed an agreement with the Centre for Development of Telematics (C-DOT), the premier Telecom R&D centre of the Department of Telecommunications (DoT), Government of India for the development of “Cell-Free 6G Access Points”.
The agreement is signed under the Telecom Technology Development Fund (TTDF) scheme of Department of Telecommunications, Government of India, which has been designed for providing funding support to domestic companies, Indian startups, academia and R&D institutions involved in technology design, development, commercialization of telecommunication products and solutions. This scheme aims to enable affordable broadband and mobile services, playing a significant role in bridging the digital divide across India.
Traditional mobile networks use cellular topologies in which each cell is serviced by a single base station like 4G/5G to service mobile customers. ‘Cell-Free’ Massive MIMO (multiple-input and multiple-output) eliminates the idea of cells and cell boundaries by deploying several access points (APs) across a vast region to serve many user devices at the same time. A large number of APs are dedicated to each user within their coverage area, meaning a single user may be supported by many APs. This ensures ubiquitous connectivity to the users, eliminates dead zones, enhances signal strength, and significantly boosts data speeds, offering an exceptional user experience even in densely populated areas.
This 6G project will focus on developing APs for enabling the upcoming 6G radio access networks and also aims to contribute to the 6G standardization activity, drive commercialization, generate intellectual property rights (IPRs), and develop a skilled workforce to support the emerging 6G landscape.
The agreement was signed during a ceremony attended by the CEO, C-DOT – Dr Rajkumar Upadhyay, the principal investigator – Dr Abhay Kumar Sah from IIT Roorkee, the co-investigator – Dr Adarsh Patel from IIT Mandi along with the Director of C-DOT – Dr Pankaj Kumar Dalela.
At the event, Dr Sah and Dr Patel affirmed their dedication to advancing next-generation communication technologies, aligning with the Prime Minister’s Bharat 6G Vision. They expressed their gratitude to DOT and C-DOT for the opportunity to collaborate on this research, emphasizing that it bolsters efforts to enhance cutting-edge research capabilities and infrastructure in the telecom sector.
Dr Rajkumar Upadhyay, CEO, C-DOT underscored the key role of indigenously designed & developed technologies in meeting the specific requirements of communication for our diverse country, reaffirming the commitment towards “Atmanirbhar Bharat”. He also said this will help us generating IPRs in 6G domain and emerging technologies in the area of 6G.
Prof. K.K. Pant, Director of IIT Roorkee, remarked: ” This partnership with C-DOT marks a pivotal step in our commitment to indigenous development of state-of-the-art telecommunications technologies. IIT Roorkee is proud to lead this initiative, which aligns perfectly with our mission to foster innovation and excellence in research. This collaboration significantly contributes to India’s 6G vision and reinforces our position as a leader in technological advancements”.
Representatives from C-DOT, IIT Roorkee, and IIT Mandi expressed their enthusiasm and commitment to this collaborative endeavor, underscoring their dedication to developing and shaping India’s 6G vision.
1, Aug 2024
1 in 5 APAC Organizations Turn to AI/ML for API Security, Latest F5 Research Finds
INDIA, August 1, 2024 – APAC organizations are increasingly relying on artificial intelligence and machine learning (AI/ML) enabled solutions to tackle a wide array of security challenges around Application Programming Interfaces (APIs), according to F5’s inaugural 2024 Strategic Insights: API Security in APAC report. The report examines the challenges and opportunities in API security in Asia Pacific (APAC), as APIs continue to power the region’s digital experiences.
With APIs increasingly being the point of attack for cybercriminals, one in five APAC organizations have adopted AI/ML technologies to detect and mitigate sophisticated threats, such as server-side request forgery (SSRF), that may be overlooked by traditional security measures. API Gateways (20%) are also widely adopted by organizations across the region for strong access control and to mitigate a broad spectrum of vulnerabilities such as unrestricted access to sensitive business flows.
“Applications have become the front door to cybercrime, and cybercriminals increasingly use APIs as the key. Across the APAC region, we have seen more attacks, with increasing speed, scale and sophistication as cybercriminals leverage AI-powered tools,” said Mohan Veloo, Chief Technology Officer for Asia Pacific, China and Japan, F5. “As such, protecting API connections and the data that runs through them has become the critical security challenge for APAC organizations, especially with many looking to deliver AI.”
“In India, we are currently witnessing a huge rise in application-based businesses, opening new avenues for cyber attackers, which has led to the rising demand for cybersecurity solutions. Businesses are prioritizing investments in security infrastructure, to ensure protection for their applications. According to our 2024 Strategic Insights: API Security in APAC report, the majority of Indian businesses are prioritizing API security testing, access control, and runtime protection for comprehensive API security,” said Pratik Shah, Managing Director of India and SAARC, F5. “At F5, we strive to understand our customers’ challenges through surveys, offering insights and solutions to help IT decision-makers build a strong security foundation; this report of ours is evidence of the same. The insights in this report offer a strategic overview of API security challenges and opportunities, enabling us to help our customers align challenges to solutions.”
“APAC organizations are facing unique API security challenges that differ significantly from global OWASP rankings. The research highlights the pressing need for tailored security measures to address specific risks such as Broken Authentication, Server-Side Request Forgery, and Security Misconfiguration. Countries like Malaysia, New Zealand, South Korea, and India are prioritizing these issues, reflecting the diverse API adoption patterns across the region. It’s clear that a focus on robust testing, strong access control and continuous runtime protection is essential for a holistic API security approach in APAC,” said Manoj Menon, Founder and CEO at Twimbit.
While APAC organizations look to protect their APIs during runtime, many also increasingly recognize the importance of guarding APIs right from development. Having robust code security standards and practices (17.5%) has emerged as a fundamental strategy among the region’s organizations to guard APIs against a broad range of complex vulnerabilities, from Broken Object Level Authorization and Security Misconfiguration issues to SSRF.
“Today, API security is more important, but also more complex than ever. Findings from our report clearly show that more organizations are shifting left along the API lifecycle, while still attempting to shield right. F5 is bringing advanced API code testing and telemetry analysis to F5 Distributed Cloud Services, creating the industry’s most comprehensive and AI-ready API security solution. F5 Distributed Cloud Services can offer API discovery, testing, posture management, and runtime protection, all in a single platform, allowing organizations to gain true visibility and security from code to cloud,” Veloo added.
Some key India findings from the 2024 Strategic Insights: API Security in APAC report include:
· Rising Security Concerns around Broken Authentication (API2) and Server-Side Request Forgery (SSRF):
o Broken Authentication: Broken Authentication has been marked by 15% of respondents as a top concern, aligning with the APAC average of 15%. The prevalent use of Webhooks (37%) and REST APIs (43%) necessitates strong authentication mechanisms to prevent unauthorized access. Securing authentication processes is vital to protect user identities and sensitive data.
o Server-Side Request Forgery (SSRF): It is also a significant concern in India, with 15% of respondents indicating it as a top issue, compared to 13.8% in APAC. The high use of GraphQL (40%) and SOAP (37%) protocols highlights the importance of validating user-supplied URLs to prevent SSRF attacks. Implementing robust validation mechanisms is essential to safeguard against malicious requests.
· India Prioritizes API Security Testing, Access Control, and Runtime Protection for Comprehensive API Security: In India, API Security Testing is the highest priority, with 57% of respondents marking it as a top concern, exceeding the APAC average of 52%. API Access Control, including Authentication and Authorization, is another critical priority, highlighted by 47% of respondents, slightly above the APAC average of 46%. The significant use of Internal (67%) and Public (57%) APIs emphasizes the need for robust access control mechanisms, aligned with OWASP API2 and API5. Additionally, API Runtime Protection is crucial, with 43% of respondents marking it as a top concern compared to 36% in APAC, driven by the high use of Internal (67%) and REST (43%) APIs.
· Significant Adoption of Code Security Solutions: Code security solutions are the most adopted API security solutions in India, with an 18.0% adoption rate. This highlights the importance of secure coding practices and static code analysis to prevent vulnerabilities from being introduced during the development phase. By integrating code security solutions with AIML technologies, businesses can proactively identify and address potential security issues, ensuring a secure API environment from the ground up.
· Critical Role of API Gateways in API Security: API Gateways play a crucial role in India’s API security strategy, with a 16.5% adoption rate. The use of API Gateways helps manage and secure API traffic, providing essential controls for access and consumption, which is critical given India’s significant use of RPC (43%) and REST APIs (43%).
· Adoption of AIML Solutions for Comprehensive Protection: AIML solutions are another key focus for India, with a 16.5% adoption rate. The rise in the adoption of AIML solutions demonstrates India’s proactive approach to leveraging advanced technologies for comprehensive threat detection and prevention, ensuring robust security measures across dynamic API environments.
To evaluate the current landscape of API security in APAC, Twimbit conducted research on behalf of F5 in H1 of 2024, surveying 297 professionals from various sectors, including security, DevOps, SecOps, and application development. Respondents were distributed across 11 APAC markets: Australia, China, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Singapore, Taiwan, and Thailand.
