13, Oct 2023
What Are Indians Cooking At Home?
Bengaluru, 13th October 2023 – Home cooking has been viewed as a dying art but is now getting a new lease of life. To capture this new wave, upliance.ai, a smart home appliance startup launched the AI Cooking Assistant, delishUp, proudly dishes out its very first comprehensive food trends report. This report is a fun and flavorful journey through the changing tastes of young India’s home kitchens, wrapped with carefully curated, data-driven insights.
Drawing from an extensive dataset of 3000 households and more than 15,000+ cooking sessions on the delishUp across 11 cities, here are some findings that provide intriguing insights into the nation’s evolving culinary landscape. While some perceptions hold true, others challenge stereotypes, making for a diverse and vivid tapestry of tastes and preferences.
- 80% of delishUp cooks are men, primarily aged 25-40, who are now cooking at home and experimenting with various cuisines.
- While 51% of owners declare themselves as non-vegetarian, 85% of households prefer cooking vegetarian meals due to perceived difficulty in learning to cook meat.
- South Indians prefer rice-based meals, but it’s surprising to discover that out of all the recipes, chapati dough is made frequently on the delishUp (3.5% of cooking sessions)
- 40% express a desire for healthier eating, but less than 10% consistently cook healthy alternatives on the delishUp.
- Young India is cooking a wider variety of cuisines at home: 40% Indian, 20% Continental, 20% Italian, remaining 20% are spread across beverages, soups, salads and Asian recipes.
Vegetarian vs Non-Vegetarian: Home is where the vegetables are cooked
India, often thought of as a predominantly vegetarian nation, unveils a more diverse culinary tapestry. Approximately 51% of owners proudly declare themselves as non-vegetarian. However, many novice cooks opt for vegetarian dishes due to the perceived complexity of handling meat, leading to 85% of households cooking vegetarian meals on the delishUp. Beloved dishes like Veg Pulao and Kadai Paneer continue to win hearts and plates. Data also showed that other traditional favourites like Poha and Rasam enjoyed widespread popularity.
North vs South: We are all curious about what’s cooking next door
- Breaking the misconception that South Indians prefer rice-based meals, chapati dough is made regularly on the delishUp, making it one of the top 5 recipes (3.5% of meals made)
- In contrast, users from North and West India are increasingly drawn to South Indian delicacies such as Upma, Lemon Rice, Bangalore-style Sambar, and Cabbage Pachadi.
- Similarly, in the South, there’s a growing exploration of dishes like Gujarati Kadhi, Mumbai-style Pav Bhaji, Rice Kheer, Surti Cold Coco, and more, showcasing cross-regional interest when cooking new dishes is simplified.
ChatGPT Creations: Sugar, Spice and Everything AI
AI is seamlessly weaving itself into our daily lives, and its influence now extends into the kitchen. Cooking new dishes has always felt like a challenge – discovering the right recipes, getting the technique and instructions just right and for the really novel ones finding ingredient substitutes can be the hardest. With delishUp’s ChefGPT feature, even novice cooks are trying their hand at cooking new dishes every day at home.
Inventive creations, such as a Mexican-inspired beer concoction, the ingenious Rotli nu Shaak that cleverly repurposes leftover roti, and the mouthwatering Ada Pradhaman, a cherished Kerala dessert. The kitchen has become a safe space to try new things, where even dishes like the whimsical Harry Potter Butterbeer, a French Opera Cake, and the refreshing Tambuli, a South Indian twist on raita, have found their place.
Aside from the sheer variety of meals people now want to cook at home, it is the ease with which young Indian homes are adopting technology to ease daily cooking boredom that stands out.
Tea Time Snacks: Everything tastes better at home
Street food, a beloved part of Indian food culture, remains a top choice across home kitchens in the country. delishUp data revealed that for users across the country, age-old classics like Pav Bhaji and Bhel continue to be made at home frequently, instead of ordering them in or heading out to them.
There are also unconventional dishes like Bread Paneer Poha, Beetroot Rasam, Pudina Palak Khichdi, Creamy Peanut Noodles, Beetroot Halwa, and Chicken Tagine that are taking centre stage in the evenings, making it clear that there is a growing willingness to embrace diverse flavours and experiment at home if made easy.
Eating and Cooking Healthy At Home: Expectations Vs Reality
In a world increasingly conscious of healthy eating, it’s interesting to note that while 40% of individuals express a desire for healthier eating habits, the data reveals that less than 10% consistently implement these practices in their daily cooking routines. This highlights the eternal tug-of-war between aspiration and reality, as comfort food often takes precedence over health-consciousness in meal preparation.
Adding to this dynamic is the widespread craving for restaurant-style food, with nearly 500 individuals expressing their desire to recreate their favourite meals at home. These cravings span a variety of cuisines, with 40% leaning towards Indian, 20% preferring Continental, and another 20% opting for Italian and the remaining trying anything from chaats to Asian. This aligns with the interest in eating healthy, but by trying to make “outside food” healthier by making it homemade.
Men are entering the kitchen
A whopping 80% of delishUp cooks are men and those aged 25 to 40 years old, many of whom are cooking for the first time.
In the past, cooking was often synonymous with a laborious process of learning and following recipes, all with no guarantee of success. However, the advent of modern kitchen devices has transformed the culinary landscape. It’s as if wielding these gadgets grants individuals a superpower; they can simply switch them on and effortlessly conjure up everyday meals. This newfound convenience eliminates the need for a specialized skill set, a shift that particularly resonates with men who may have previously felt daunted by traditional cooking methods.
Thus, their attraction to cooking technology and the convenience it offers is driving greater independence in the kitchen. This newfound autonomy has been motivating them to experiment with a wide array of dishes and explore their horizons.
What Unites Us All?
In the diverse realm of Indian cuisine, timeless favourites like Poha, Pulao, and Kadai Paneer unite the nation’s taste buds. Mornings often begin with quick meals like Poha and Upma, while dinner brings the comfort of Chapatis paired with an array of sabzis, including Kadai Paneer and Aloo Tamatar Sabzi. Lunch varies but often features rice-based dishes like Veg Pulao and Sambar.
Dessert cravings are dominated by Rice Kheer, enjoyed universally, with Vermicelli Payasam adding a Southern twist. In the realm of non-veg, Butter Chicken takes the crown, delighting non-veg enthusiasts nationwide. These culinary trends showcase the enduring love for traditional flavours and the harmonious blend of regional and national tastes in Indian cuisine.
As the nation’s culinary interests continue to grow, this in-depth research provides valuable insights into the recent changes in the food preferences of people across India. With home cooking now making a comeback, the convenience of a cooking appliance that takes you from prep to plating has democratised cooking and is helping young Indian homes stop eating boring home food.
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- By Rabindra
13, Oct 2023
Pinnacle Industries Unveils Innovative Railway Seating and Interiors at IREE 2023
New Delhi, 13th October 2023: Pinnacle Industries, India’s leading manufacturer of automotive interiors, seating systems, EV components, and specialty vehicles, is set to unveil its breakthrough products and cutting-edge technology at the 15th International Railway Equipment Exhibition (IREE). The event, organized by the Confederation of Indian Industry (CII) in collaboration with the Ministry of Railways, Government of India, will be held from October 12 to 14, 2023, at Pragati Maidan in New Delhi. IREE is widely regarded as Asia’s leading rail transportation platform.
Pinnacle Industries, known for its pioneering developments in commercial vehicles seating & interiors, is preparing to present a varied range of innovative products and solutions for railway segment at IREE 2023. The company’s industry leading seating solutions are a part of many ‘Vande Bharat’ trains currently operational in India. At the exhibition, the company will be unveiling a wide array of railway seating and interior solutions that are poised to revolutionize the passenger experience and elevate the standards of comfort, safety, and aesthetics in rail travel.
Mr. Arihant Mehta, President of Pinnacle Industries, said “We are excited to participate in the 15th IREE exhibition and to showcase our latest innovations in railway seating and interior solutions. Pinnacle Industries is committed to advancing industry innovations, and this exhibition provides a fantastic platform for us to meet with stakeholders and demonstrate our capabilities. We are a proud Indian company and our commitment to quality, innovation, and sustainability is at the heart of everything we do. We are eager to share our vision for the future of rail travel with the world and showcase the prowess of truly ‘Made in India’ products and technology.”
Key highlights of Pinnacle Industries’ exhibit at IREE 2023 include:
State-of-the-Art Seating: Pinnacle Industries will introduce an impressive range of ergonomic and customizable seating options designed to enhance passenger comfort during their rail journeys. These seating solutions are built with a focus on durability, ease of maintenance, and aesthetic appeal, ensuring they meet the diverse needs of railway operators and passengers.
Innovative Interior Designs: Visitors to Pinnacle Industries’ booth will have the opportunity to explore innovative interior designs that redefine the look and feel of railway carriages. The company’s interior concepts are not only aesthetically pleasing but also designed for ease of installation and maintenance, addressing the practical needs of railway operators.
Sustainability and Efficiency: Pinnacle Industries is committed to sustainability and efficiency. The company’s new range of railway seating and interiors incorporates eco-friendly materials and features aimed at reducing the carbon footprint of rail travel.
Cutting-Edge Technology: Pinnacle Industries’ products also feature cutting-edge technology, including smart materials, integrated features, and enhanced connectivity options, offering passengers an enhanced and enjoyable rail travel experience.
IREE 2023 provides the perfect platform for Pinnacle Industries to connect with industry leaders, railway operators, and stakeholders. The company’s experts will be on hand to provide insights into their latest offerings and discuss how their products can address the evolving needs of the railway sector.
Visitors to IREE 2023 will get the opportunity to experience the future of train seating via Pinnacle Industries’ Executive Seats. With avant-garde features such as 180° rotation, an intuitive grab handle, a footrest with three stops, modular charging units, foldable armrests with snack tray, ergonomic lumbar support, and a 90-degree pedal lock, these precisely built seats are intended to change the travel experience.
Pinnacle Industries will also showcase its unique Economy Seats, which are intended to easily handle single, double, and triple seating combinations. With features like Single/two/three Seating, Fire Retardant Seat Foam, Modular Charging for All, Bottle Holder, and Sunken Snack Tray, these chairs usher in a new era of travel comfort and convenience, demonstrating the company’s commitment to innovation and adaptation.
Apart from these, the company will also introduce its tip-up & foldable seating solutions designed & developed for railway segment. Pinnacle Industries provides an exclusive product line for railways that includes innovatively designed Seating Systems for unparalleled comfort and safety, Automotive Interiors that improve both the aesthetics and functionality of rail interiors, cutting-edge EV Components that are leading the future of electric rail transportation, Specialty Vehicles that are tailored to specific transportation needs, and state-of-the-art Stretchers that ensure mobile medical facilities. Pinnacle Industries welcomes all attendees, media representatives, and industry partners to visit their exhibition at IREE 2023 and discover the future of railway seating and interiors. You can find them at stall number 2.88 in Hall 2 during the event.
13, Oct 2023
CredAble and Mahindra First Choice Wheels Join Forces to Streamline Invoicing Process
India, 13th October 2023: CredAble, a leading fintech platform providing working capital and supply chain finance solutions, has joined hands with Mahindra First Choice Wheels Ltd (MFCWL), a key player in India’s pre-owned auto business sector, to digitize their invoicing process. As part of the partnership, CredAble will align its innovative and cutting-edge e-invoicing platform to transform the way MFCWL interacts with its network of 745 yards across the country, revolutionizing the parking industry.
CredAble’s digital forward SME finance solutions deliver a variety of financial alternatives and features tailored to assist businesses in managing their cash flow while optimizing operations. It also offers powerful solutions, such as the GST Super Search tool for quick vendor verification, B2B payment solutions like automated payment reminders, online collections and reconciliation, vendor management, and more.
For Mahindra First Choice Wheels Ltd, CredAble’s e-invoicing platform will play a significant role in simplifying, automating, and expediting the otherwise traditional manual invoicing operations, channelling the easy flow of funds throughout the supply chain with accuracy.
The digitization is expected to not only reduce man-hours required for invoicing but also decrease the turnaround time by creating a transparent system that eliminates the need for invoice approval, tracking, chasing, and human errors. With this, CredAble’s e-invoicing platform is expected to revolutionize the way MFCWL operates, delivering seamless parking services and offering exceptional customer experiences.
Delighted to partner with MFCWL, Mr. Ashutosh Taparia, MD & Chief Revenue Officer-CredAble said, “Our collaboration with MFCWL will revolutionize their invoicing processes and fuel their growth trajectory with powerful financial tools. Together, we are unlocking the potential to optimize operations, streamline efficiency, and pave the way for accelerated growth. This partnership signifies our commitment to empowering businesses with innovative solutions, and we look forward to propelling Mahindra First Choice Wheels to new heights of success.”
This strategic partnership between CredAble and MFCWL will leverage their expertise and technological capabilities within the automotive industry. It will also make it easier for businesses/yards to streamline their invoicing journey, ensuring smooth and efficient processing, timely payments, and simplified reconciliation, thereby minimizing audit and operational difficulties.
Thrilled to introduce this game-changing fintech solution that will revolutionize the invoicing process, Ashutosh Pandey, MD and CEO at Mahindra First Choice Wheels Limited, said, “We are excited about our partnership with CredAble, which will bring about a transformative change in our invoicing processes. By leveraging CredAble’s innovative platform, we are not only simplifying and digitizing our invoicing operations but also enhancing our vendor relationships through greater transparency and collaboration. This will ultimately lead to seamless processing, timely payments, and reduced audit complexities.”
The collaboration is a testament to the commitment of both organizations to driving innovation and fostering financial stability throughout the supply chain ecosystem, with streamlined invoicing processes and optimized working capital ultimately providing a competitive edge in the market.
13, Oct 2023
Scoot Awarded Best Low-Cost Carrier at TTG Travel Awards and Travel Weekly Asia Readers’ Choice Awards 2023
Bangalore – Scoot, the low-cost subsidiary of Singapore Airlines, has been awarded “Best Low-Cost Carrier” at the TTG Travel Awards and Travel Weekly Asia Readers’ Choice Awards 2023. Scoot has won these awards for consecutive years, underscoring its commitment to delivering operational and service excellence, and reaffirming its position as a leader in the industry.
Scoot’s Chief Commercial Officer, Mr. Calvin Chan, attended both award ceremonies and expressed his gratitude. He said, “We are honoured to receive these awards once again and would like to thank our valued customers and industry partners for their support through the years. These awards reflect the unwavering dedication, passion, and hard work of the entire Scoot family. We remain committed to connecting people and cultures through travel and redefining the experience in the low-cost carrier industry.”
TTG Travel Awards 2023 – Best Low-Cost Carrier
The TTG Travel Awards is organised annually by TTG Asia and honours the best of Asia Pacific’s travel industry. Winners are determined through online voting by TTG publication readers and travel trade industry professionals.
The 32nd Annual TTG Travel Awards Ceremony and Gala Dinner was held in Thailand on 28 September 2023. This year marks Scoot’s third consecutive year in winning the award.
Travel Weekly Asia Readers’ Choice Awards 2023 – Best Low-Cost Carrier (Asia Pacific)
The Travel Weekly Asia Readers’ Choice Awards acknowledges excellence in the travel and hospitality industry. Winners were selected from votes casted by industry professionals based on overall excellence, professionalism, innovation and other criteria according to their area of expertise.
The award ceremony was held at Conrad Centennial Singapore on 3 October 2023.
This is Scoot’s second win in the same award category.
Earlier this year, Scoot was also named the “Best Low-Cost Long-Haul Airline” at the Skytrax World Airline Awards 2023. Since 1999, the World Airline Awards has been regarded as ‘the Oscars of the aviation industry’ and remains fully independent and impartial, with travellers of over 100 nationalities deciding on the winners via a passenger satisfaction survey.
13, Oct 2023
The Zensory Announces Partnership with Flux HealthTech to Bolster Wellbeing Support for Clinicians
London, U.K., 13th October 2023 – The Zensory, the popular wellbeing and productivity app, has today announced its partnership with healthtech innovation platform, Flux. The partnership offers Flux members discounted access to The Zensory app, with an aim to ease signs of burnout, anxiety, and stress for its community of clinicians. The Zensory are proudly Flux’s first wellbeing partner.
The partnership aims to help their community of clinicians to reduce feelings of anxiety and burnout, which currently runs rife throughout the NHS. In fact, new research by The Medical Protection Society (MPS) shows that nearly 50% of doctors in the UK have said that their mental health is worse now than during the pandemic, with 47% of doctors expressing concern around the impact of industry-wide burnout on patient safety. Mood-boosting tools like The Zensory aim to reduce this burden on healthcare professionals.
The Zensory’s partnership with Flux offers clinicians the opportunity to access their full in-app sensory toolkit, which includes touchpads, binaural beats, and breathing exercises. The app, which launched in 2021 in response to the mental health crisis that arose out of the Covid-19 pandemic, was informed by industry leading scientists and academics, alongside over 200 research papers. The app provides users with an easy to integrate aid for wellbeing practises.
Josh Burke, Chief Medical Officer at Flux, says: “The wellbeing of our members is paramount to Flux’s mission. Flux’s innovation skills training and the experience our members receive from our paid HealthTech opportunities is designed to encourage them to put these skills to use within the NHS. However, we know that burned out clinicians results in worse outcomes for our patients. At Flux we feel utilising The Zensory app will help our clinicians in their professional lives and are proud to announce this partnership.”
The partnership aims to provide a stepping stone into wellbeing for clinicians across the country by focusing on the human side of the healthtech and medical industries. The Zensory aims to provide the tools and techniques for clinicians using the Flux platform to take into their working lives. Flux and The Zensory are connected through a shared vision of innovation via upskilling within communities. The partnership is a force for meaningful change and a commitment to improving the mental health of those who care for us in our most vital times of need.
Jasmine Eskenzi, CEO and Founder of The Zensory, adds: “We’re incredibly proud to be wellbeing partners with Flux. At The Zensory, we want to give back to communities that are the beating heart of our society – and clinicians are just that. Burnout is a huge problem across the healthcare and medical industries and we’re passionate about equipping people with the skills necessary to boost their mental wellbeing – and there’s no greater, or more urgent, cause. This vision aligns perfectly with Flux’s mission to innovate through upskilling and helping realise their potential in the healthtech space.”
13, Oct 2023
NBC Bearings Partners with FOGTEC to Provide Fire Detection and Suppression Systems to Indian Railways
India, 13th October 2023: National Engineering Industries Ltd. (NEI) – part of the US$ 2.8 billion CK Birla Group and manufacturer of NBC brand of bearings, India’s leading bearings manufacturer, and exporter, has collaborated with FOGTEC Fire Protection Pvt. Ltd, to supply the Fire Detection System and Fire Suppression System used in Indian Railways. NEI will oversee FOGTEC’s product promotion, supply, installation, commissioning, and post-sales service for the Indian Railways. Through this partnership, NEI is diversifying its product portfolio beyond bearings.
As part of its collaboration with FOGTEC, NEI will directly engage with Indian Railways through its dedicated team. This collaboration will further help Indian Railways to enhance the safety and security of its customers while bringing in new, innovative, reliable & global solutions at competitive prices.
Speaking on the collaboration, Rohit Saboo, President & CEO, National Engineering Industries Ltd. (NEI) said, “We are very excited to partner with FOGTEC Fire Protection Pvt. Ltd to further strengthen our relationship with the Indian Railways now with the distribution of Fire Detection and Suppression Systems. FOGTEC is one of the leading OEMs for Fire Detection Systems and Fire Suppression Systems and NEI has been catering to the Indian Railway for more than 7 decades now”.
“This partnership aligns with the Indian railway’s focus on enhancing safety and security, and NEI’s vast experience, market reach, and customer-centric approach combined with the innovative and reliable products of FOGTEC will support customer expectations. We are certain that NEI’s foray into Non-Bearing areas will help FOGTEC benefit in terms of new & increased business volumes and deep penetration in Indian Railway segment”, he added.
Roger – A. Dirksmeier, Managing Director – Rail Systems and member of the board at FOGTEC, said, “We are delighted to partner with NEI, a company with a notable seven-decade track record of serving the Indian Railways. We are sure that NEI’s experience makes them an excellent partner for us to navigate and thrive in this market together. We look forward to serving the Indian Railways in collaboration with NEI. Our own long-term and sustainable planning fits well with the philosophy of our new partner and will increase our presence and availability in the Indian market significantly.”.
The collaboration was announced at IREE 2023 in the presence of the German embassy to India, represented by Mr. Alexander Reck, Head of Digital & Transport at the German Embassy.
13, Oct 2023
Delivering Good Luck Charms – Porter launches new ad campaign for the cricket season
October 2023: With the cricket excitement pouring in, cricket lovers all across the country are rising up to support the Indian team. Porter, India’s premier tech-based, on-demand logistics company, is kick-starting the launch of its campaign to celebrate this love, passion, and unwavering support. To be streamed on digital platforms during India’s games, the campaign comprises three fun ad films that highlight Porter’s relentless commitment to ensuring seamless, efficient, and affordable deliveries.
An ode to the cricket fans of India, these films reflect the lucky beliefs of the cricket fanatics as beacons of hope and a mark of support to the Indian cricket champions to keep them going. From a lucky bucket to a lucky t-shirt to lucky mascots, the films also highlight how Porter delivery partners aid the timely delivery of anything, anytime and anywhere, helping fans support their team.
The first film, ‘Bucketasana’, highlights a cricket fan’s desire to perform his lucky pose to help the Indian team strike a sixer and Porter’s support in delivering the perfect bucket to help him do the upside-down lucky pose. The second film, ‘Lucky T-shirt?’, shows a Porter driver-partner delivering a lucky tattered t-shirt to a cricket fan from their home. Along with two other friends wearing similar lucky t-shirts, he puts on his t-shirt and watches the match while cheering through the winning moments. The last film, ‘Lucky Charm’, showcases Porter driver-partners as the lucky charm for the match for a shopkeeper. Everyone gathers at the shop to watch the match and is elated by a sixer hit, thanks to the good luck brought along by the driver-partners.
Featuring Biswapati Sarkar, Nikhil Ratnapakhi and Narendra Khatri, and conceptualised by Punt Creative, the campaign aims to reach the high-spirited cricket lovers of the country far and wide. Along with online streaming platforms, the campaign will be leveraged on other digital platforms, and through radio and OOH as well, creating a 360° approach.
Speaking on the campaign, Mohit Rathi, VP, Customer Growth & Engagement, Porter said, “As India gears up to host one of the most important events in international cricket, this is the time for cricket fans all across the nation to rise up in support of our team. Through this campaign, we want to highlight how Porter can be a part of billions of fans’ match day excitement and deliver smiles and good luck. The campaign showcases our commitment to delivering anything, anytime and anywhere – the assurance that Porter hai, hojayega. We hope this resonates with the viewers and inspires them to stick to their own special rituals.”
Talking about the campaign, Drishti, Copy Supervisor, Punt Creative said, “The World Cup is an exciting opportunity for any brand to generate brand love. To do that for Porter, we had two motivations: the first being Porter’s commitment to deliver anything, anywhere, anytime that gave us a chance to let our thoughts run wild, and the second, the real stories of cricket fans that would help us stand out amidst the many ads played during the break. Owing to the format, each film was written with the short duration in mind, based on a deep-rooted insight that came from knowing, observing or being fans of the sport ourselves.”
The company’s first advertising campaign, “Delivery Hai? HoJayega,” launched in August 2022. In March 2023, Porter unveiled its most recent social media brand campaign, “House shifting hai? HoJayega,” emphasising the breadth of services it offers for packers and movers. Porter additionally introduced its new logo as a part of a brand refresh initiative to update the brand identity.
13, Oct 2023
BTEA set to position Bahrain as a Premier Global Tourist Destination with Manama declared as the 2024 GCC Tourism Capital
India, 13th October 2023 – The Bahrain Tourism and Exhibitions Authority (BTEA) is set to announce a series of groundbreaking initiatives aimed at solidifying Bahrain’s position as a premier global tourist destination. The declaration follows Bahrain’s remarkable achievement in Manama being chosen as the capital of Gulf tourism for the year 2024 during the 7th meeting of the ministers responsible for tourism in the Gulf Cooperation Council (GCC) countries.
The prestigious designation of “Manama” as the capital of Gulf tourism for 2024 is a testament to Bahrain’s exceptional contributions to the growth of Gulf tourism sector. The Kingdom of Bahrain’s foresight in recognizing tourism’s potential as a vital sector capable of driving economic growth and ensuring sustainable development played a pivotal role in securing this honour. Bahrain is committed to nurturing a thriving and dynamically expanding tourism sector, with the aim of not only enhancing its reputation as a prominent hub for regional and international tourists but also fostering stronger tourism cooperation within the GCC region.
Dr. Nasser Ali Qaedi, CEO, Bahrain Tourism and Exhibitions Authority (BTEA) said, “We take immense pride in this achievement in the Kingdom’s tourism sector, which stands as a testament to a series of successful tourism endeavors at local, regional, and international levels. The Kingdom has positioned the tourism sector at the forefront of its developmental agenda. This strategic position acknowledges the sector’s pivotal role in driving sustainable development. Under this vision, substantial investments have been channeled into expanding tourism infrastructure, refining tourism services, and establishing high-quality facilities. These endeavors are aimed at attracting a greater influx of tourists worldwide.”
Dr. Qaedi added, “Collaborating closely with its public and private sector partners, BTEA persistently crafts success stories, aiming to fulfill the ambitious tourism goals outlined in the 2022-2026 strategy. This intensive effort has transformed Bahrain into a beacon of adaptability, diversity, and consistent tourism growth within a remarkably brief timeframe. This achievement was evident last year when the Kingdom welcomed approximately 10 million tourists, surpassing the targeted numbers by an impressive 20%. We assure our GCC visitors of an exceptional tourism year ahead. Anticipate the launch of several high-quality tourism initiatives and an array of exclusive travel packages tailored for GCC citizens and residents; these offerings are meticulously designed to attract a broader audience, enhancing tourism appeal across all sectors.”
The Kingdom of Bahrain has always been a gem of the Arabian Gulf, offering a blend of rich history, vibrant culture, and stunning natural beauty. With this recent recognition, Bahrain aims to draw the attention of tourists from around the world and to embark on a journey filled with unique experiences, warm hospitality, and unforgettable memories.
13, Oct 2023
OTTplay Premium and STAGE Collaborate to Redefine Regional Streaming in India
India, 13th October, 2023 – OTTplay Premium, India’s premier AI-powered streaming, recommendation, and content discovery platform, is excited to announce a strategic partnership with STAGE, the pioneering dialect-based streaming platform. This collaboration marks a significant step forward in delivering diverse and authentic regional content to Indian audiences.
STAGE, the world’s first dialect-based streaming platform, boasts an impressive library of over 250 original films and series spanning various genres. With a focus on Haryanvi and Rajasthani dialects, STAGE brings forth a unique entertainment experience that resonates deeply with the rich cultural diversity of India.
The partnership between OTTplay Premium and STAGE is set to enhance the streaming landscape in India by combining cutting-edge technology and localized content. OTTplay Premium, known for its AI-driven recommendations and content discovery capabilities, will seamlessly integrate STAGE’s dialect-based content into its platform, making it easily accessible to a wider audience.
Avinash Mudaliar, CEO and Co-founder of OTTplay, commented on the partnership, saying, “We are thrilled to join forces with STAGE in our shared mission to bring diverse, regional content to the forefront of India’s streaming industry. This collaboration not only enriches the content offerings on OTTplay Premium but also celebrates the linguistic and cultural diversity of our country. Our AI algorithms will ensure that users discover STAGE’s compelling content, creating a personalized and engaging experience for our viewers.”
Vinay Singhal, Co-founder and CEO of STAGE, expressed his enthusiasm, stating, “Dialects in India changes after every 8 kms or so. Up until now people only had Hindi content at their disposal where the cultural values and milieu are missing. STAGE makes content for aspiring Bharat and enables them to take pride in their culture and dialect. Partnership with OTTPlay will allow STAGE to take its content and mission to a wider set of audiences. “Kyonki Boli Mein Apnapan Hai”
OTTplay Premium and STAGE share a common vision of democratizing content access while championing the rich tapestry of regional languages and cultures in India. This partnership aligns perfectly with their shared commitment to offering a diverse and enriching streaming experience for viewers across the country.
As India’s digital entertainment landscape continues to evolve, OTTplay Premium and STAGE are excited to be at the forefront of this transformation. Together, they are poised to revolutionize the way Indian audiences engage with regional content, fostering cultural pride and diversity through the power of streaming.
13, Oct 2023
PE Investments in Indian RE Register Decline of around 12 Percent in 1H FY24 – ANAROCK Capital
Mumbai, 13 October 2023: The average ticket size of private equity investments into the Indian real estate sector has increased to USD 117 Mn in 1H FY24, from USD 100 Mn in 1H FY23, finds the ANAROCK Capital report FLUX – 1H FY24.
Shobhit Agarwal, MD & CEO – ANAROCK Capital, says, “This is largely due to a large deal in which Brookfield India Real Estate Trust REIT and Singapore’s sovereign wealth fund GIC together acquired 2 commercial assets – one in Mumbai and other at Gurugram (NCR), from Brookfield Asset Management with an enterprise value of USD 1.4 Bn.”
All transactions in USD ($) unless otherwise stated; Numbers rounded off to the nearest decimal; FY = Financial Year (1st April – 31st March)
Top 10 PE Deals in 1H FY24
Overall activity remained muted with headline numbers boosted by this large single deal, with assets across locations. The top 10 deals accounted for 95% of the total value of PE investments in 1H FY24 as compared to 81% in 1H FY23.
Office assets dominated large ticket equity investments in 1H FY24. This can be attributed towards continued preference by investors in Grade-A office assets with quality tenants.
Data centres are emerging as a new asset class for investment with a value of USD 73 Mn.
Residential RE continued as an attractive destination for debt investments in 1H FY24.
All transactions in USD ($) unless otherwise stated; Numbers rounded off to the nearest integer; FY = Financial Year (1st April – 31st March)
Equity vs Debt Funding
Equity investments continue to be the preferred route by investor, as evidenced from the fact that equity’s share continues to be a healthy at 89%.
FY = Financial Year (1st April – 31st March)
Domestic vs Foreign Funding
Domestic investments increased by 9% (USD 274 Mn) of the total PE capital inflows into Indian RE in 1H FY24, as compared to USD 252 Mn in 1H FY23. The share of foreign investments in 1H FY24 have dropped to 88% as compared to 91% in 1H FY23.
Movement of Capital Flow
Multi-city transactions have increased sharply during 1H FY24, dominated by the Brookfield India REIT & GIC transaction. MMR led the transaction league tables in city-specific transactions, with the city reporting investments of USD 543 Mn in 1H FY24, compared to USD 307 Mn in 1H FY23.
Asset Class-wise Funding
The commercial RE sector has witnessed an increase in capital inflows via PE investments, accounting for a 78% share of investments received in 1H FY24, as compared to 56% in 1H FY23
Data centres are emerging as a new asset class for investment with a value of USD 73 Mn.
Key Takeaways
Residential:
“Led by luxury housing sales, demand for residential real estate continued to post robust volumes,” says Agarwal. “The momentum in residential sales has sustained even as an inflationary environment forced the RBI to push up the Repo Rate to 6.5% earlier this year – a level not exceeded since 2016. The underlying fabric of the market remains skewed towards the mid and premium segments constituting the bulk of sales, while the affordable segment witnessed a decline in volume.”
Supply continued to ramp up during the period, and prices continued to rise despite inflation and elevated interest rates.
“The underlying demand remains strong to the backdrop of a robust economy. We expect the current demand trends to sustain in the foreseeable future with volumes expected to hit a new decadal high in CY23. We expect the larger, organised players to continue to account for an increasing share in line with the prevailing consolidation underway in the sector.”
Office:
While 1H FY24 has seen overall muted activity, the second half of the period saw some stability with good traction in Bengaluru, Hyderabad & Chennai. The revival was led chiefly by the technology & manufacturing sectors.
Owing to weak demand in preceding quarters, landlords have deferred completions, negatively impacting fresh supplies.
Rentals have firmed up for Bengaluru & Hyderabad, while remaining stable for other cities.
Vacancies remained elevated for Gurugram, Noida & Hyderabad, while it remained low for Bengaluru & Pune.
Vacancies remain elevated as companies optimize for hybrid model strategy and consolidate space requirements.
The outlook for second half is stable to strong, backed by demand from return to office.
Retail:
Many international brands like Roberto Cavalli, Foot Locker, Lavazza, Armani Caffe, Jamba and The Coffee Club among many others have announced plans to set up outlets in India.
Domestic retail operator’s sales have also been strong with healthy growth in demand coming from Tier II and Tier III cities.
Mall operators are also looking to grow their asset base, looking to cash in on the industry growth.
The deal street in the retail sector remains buoyant, with several marquee transactions like Qatar Investment Authority and KKR’s investments in Reliance Retail, ChrysCapital’s investment in Lenskart, among others, reported
The overall outlook for the retail industry is buoyant as consumer spending continues to rise.
Warehousing:
Demand for warehousing continues to be strong as tenants are seen leaving non-compliant facilities and migrating to facilities which are compliant in all respects. Tenants are also looking to improve utilization of cubic space instead of just the floor space.
Major sectors driving demand are 3PL, retail, FMCG and automobiles even as demand from e-commerce remains muted.
A steady rise in demand has led to steady supply creation. There are cyclical spurts where the supply surpasses the demand leading to double digit vacancies, but as the balance is restored the vacancy comes to a normally acceptable tolerance level.
Rising input costs have also led to a rise in rentals. Some vacancy is healthy for developers as very often they get a rental premium when catering to an immediate demand.
Developer funds are actively looking at Tier II cities and state capitals like Ludhiana, Rajpura, Lucknow, Bhubaneshwar, Patna, Nagpur, Coimbatore, Cochin.
