Category Archives: Business

Techno Billion AI Unveils ‘Indira AI’ — India’s First AI-Powered Teaching Assistant For Schools

Kolkata, May 14, 2025 — Techno Billion AI (TBAI), the ed-tech innovation vertical of Techno India Group, in collaboration with Makerlab, hosted a first-of-its-kind interactive demonstration of Indira AI, an AI-powered humanoid teaching assistant designed to reimagine the classroom experience.

Held at the Techno India Salt Lake Campus, the five-hour session brought together principals, teachers, and primary school students from across Techno India Group Public Schools (TIGPS), offering them a hands-on experience with India’s most advanced classroom AI tool.

Indira AI is a voice-activated assistant powered by OpenAI and generative AI technologies. From hosting quizzes and gamifying lessons to answering student queries in multiple languages and assisting teachers with classroom tasks, Indira AI is built to be a seamless, responsive, and emotionally intelligent educational companion.

The initiative is being spearheaded by Meghdut Roychowdhury, Executive Director & Chief Innovation Officer of Techno India Group, through Techno Billion AI, with operational leadership by Mr Abhrajit Saha, Co-Founder & Director of TBAI.

“This is not just a tech showcase – it’s a turning point for how we envision the future of education in India. By integrating AI into early learning, we are laying the foundation for a generation that grows up with innovation as second nature. Indira AI is here to make learning joyful, interactive, and future-ready.” said Mr Meghdut Roychowdhury, Founder, Make Calcutta Relevant Again and Chief Innovation Officer, Techno India Group.

The event and broader initiative have received strong encouragement from Prof. Manoshi Roychowdhury, Co-Chairperson of Techno India Group, who has been instrumental in promoting futuristic and inclusive educational solutions.

“At Techno India Group, we’ve always believed in giving our students access to tomorrow’s tools, today. Indira AI represents a giant leap forward in accessible, creative, and compassionate learning environments.” said Prof. Manoshi Roychowdhury, Co-Chairperson of Techno India Group.

“We believe that introducing AI to children in a safe, fun, and constructive way will empower them to be creators, not just consumers,” added Abhrajit Saha. “This is about unlocking curiosity and sparking the entrepreneurial mindset early on.”

The Indira AI workshop also featured a mobile AI lab experience called AI on Wheels, where children engaged in certified AI activities and projects, encouraging them to think beyond the textbook. This event is part of Techno Billion AI’s mission to empower a billion people with AI, ensuring that students, parents, and educators across India become part of the AI revolution, starting from the classroom.

Magellanic Cloud Strengthens FY25 Position with Steady Growth and Milestone Execution

Magellanic Cloud Limited (MCL) is a pioneering technology enterprise, offering digital transformation, e-surveillance, AI/IoT, and drone-based solutions for real-world applications. Committed to harnessing cutting-edge technology, Magellanic Cloud offers transformative solutions to a global clientele and has made strategic investments in IT services, E-surveillance, and advanced drone technologies.

Magellanic Cloud has announced its annual financial results for FY24-FY25, reflecting consistent growth and significant milestones across its group companies. The company reported a consolidated revenue of ₹597.23 crore, marking a 6.57% year-on-year increase from ₹560 crore in FY24. EBITA rose to ₹209.67 crore, representing a 4.22% growth, while the EBITA margin improved to 35.11%. The company reported a Profit After Tax (PAT) of ₹102.73 crore with a PAT margin of 17.20%, indicating continued operational strength.

Among key highlights, Motivity Labs, a Magellanic cloud subsidiary secured a $6 million contract to deliver tailored IT services and digital transformation solutions for a major enterprise client. Scanalitix, the company’s flagship Video Management System and Advanced Video Analytics platform, continued its global rollout across the United States, Canada, Oman, and Dubai.

The results of FY24-FY25 marked a pivotal moment in the company’s journey with its successful debut on the National Stock Exchange (NSE). The listing enhanced corporate visibility and strengthened investor confidence.

This milestone came alongside strong growth across its core verticals. Magellanic Cloud continues to make advances in IT services, drone technology, and e-surveillance intelligence as it delivers on its mission to power real-world transformation through next-generation innovation.

Mr. Joseph Sudheer Reddy, Global CEO of Magellanic Cloud, “FY25 has truly been a transformative year for us at Magellanic Cloud. From achieving key strategic milestones to delivering solid financial results, it’s been an exciting journey. Our successful debut on the NSE is a clear reflection of the growing investor confidence in our vision and our strong foundations. We saw remarkable year-over-year revenue growth of 6.57% proving the scalability and resilience of our diversified business model.”

Coromandel Chemicals Enters Joint Venture with Sakarni Plaster for Phospho Gypsum-Based Green Building Materials

National, May 14, 2025: Coromandel Chemicals Limited, a wholly-owned subsidiary of Coromandel International Limited, has signed definitive agreements to form a joint venture with Sakarni Plaster for the manufacture and sale of Phospho Gypsum-based Green Building Materials.

This Joint Venture enables Coromandel to diversify beyond its core agri-inputs business, enhance integration synergies and create long-term value. For Sakarni, the alliance facilitates expansion of its product portfolio, market diversification and reinforces its leadership in the gypsum plaster industry.

Aligned with the Circular Economy initiative of the Government of India, this venture is India’s first large-scale initiative to promote sustainable Green Building Products. The joint venture aims to capitalize on the rapidly expanding gypsum plaster market, driven by a growing construction sector, the rising need for affordable housing and demand for eco-friendly, durable building materials. Phospho Gypsum products have a significantly lower carbon footprint compared to natural gypsum by avoiding mining activity, reducing environmental load and contributing positively towards waste to wealth goals under Circular Economy framework.

The Joint Venture also complements the Government of India’s push towards import substitution, self-reliance in raw materials and responsible waste management as articulated under the DPIIT’s circular economy roadmap.

The state-of-the-art manufacturing facility will be established by the Joint Venture in Visakhapatnam, adjacent to Coromandel’s fertilizer plant, ensuring reliable feedstock availability through gypsum generated as a by-product from fertilizer operations.

Mr. S Sankarasubramanian, Managing Director and CEO of Coromandel International Limited, stated: “The joint venture represents a strategic move for Coromandel in advancing our sustainability and circular economy goals. By creating value from industrial by-products and diversifying into green construction materials, we are leveraging adjacent synergies to unlock new growth avenues. This collaboration also aligns with the Government’s Atmanirbhar Bharat vision by promoting local manufacturing, reducing import dependence, and supporting environmentally responsible alternatives. By combining Coromandel’s manufacturing strength with Sakarni’s market leadership, we aim to deliver high-quality, eco-friendly gypsum solutions that meet the evolving needs of India’s housing and infrastructure sectors.”

FedEx Powers Chennai Small and Medium Enterprises to Think Big, Ship Smart

Chennai, India, May 14, 2025: Federal Express Corporation (“FedEx”), the world’s largest express transportation company, is empowering Chennai’s small and medium enterprises (SMEs) to scale innovative ideas and reach global markets through its SME Connect series—an initiative bringing tailored logistics, digital tools, and strategic insights to emerging business hubs.

“As SMEs accelerate their ambitions, we’re matching that pace with smarter solutions, stronger infrastructure, and deeper engagement,” said Nitin Navneet Tatiwala, vice president of marketing, customer experience, and air network, Middle East, Indian Subcontinent, and Africa (MEISA), FedEx. “Through our SME Connect platform, we’re delivering more than packages—we’re enabling aspirations for SMEs to compete on the global stage.”

Launched in 2019, SME Connect has evolved from a knowledge-sharing forum into a dynamic advocacy platform. In FY25, FedEx introduced new formats—SAMPARK, ANUBHAV, and MANTRA—to engage businesses in a more personalized way, aligned to their lifecycle and sectoral challenges, and connect them to global opportunities to thrive in this digital age. These efforts also support national programs like Invest India and Directorate General of Foreign Trade’s, One District One Product (ODOP) and District Export Hub (DEH) initiatives, promoting regional export hubs and sector-specific growth in cities like Chennai. To date, SME Connect has engaged over 5,000 SME customers and prospects through 58 editions held across 55 cities in India.

FedEx connects Chennai entrepreneurs to international markets through its robust network, now featuring 23 weekly flights in and out of India.

● FedEx International Priority®: Critical shipments reach key markets in 2–3 business days. *

● FedEx International Connect Plus® (FICP): Affordable international e-commerce shipping across 14 AMEA markets, delivering in 1–3 days.

Furthermore, FedEx is investing in digital intelligence to help SMEs in Chennai simplify operations and improve end-to-end shipment visibility.

● The FedEx Import Tool (FiT) streamlines imports with real-time tracking, digital documentation, and proactive alerts.

● FedEx® Delivery Manager International (FDMi) gives customers flexibility to manage delivery preferences.

● FedEx Ship Manager™ automates label generation and paperwork, while the Electronic With Originals feature speeds up customs clearance with digital submissions.

● FedEx One-Stop Shop (FOSS) simplifies logistics by integrating FedEx Express and FedEx Logistics services into a single, user-friendly platform.

FedEx remains committed to powering the ambitions of India’s SMEs by combining global capabilities with local insights. As seen in its recent digital brand film with Chennai Super Kings, which celebrates bold business dreams, FedEx is championing the spirit of out-of-the-box thinking and helping entrepreneurs turn those ideas into global success stories.

Credit Saison India Secures USD 150 million in ECB Funding from Mizuho Bank

Mumbai, India, May 14, 2025 – Credit Saison India (“CS India”), a leading non-banking financial company and the Indian subsidiary of Japan’s Credit Saison Co., has secured External Commercial Borrowing (ECB) funding of USD 150 million from Mizuho Bank Ltd. under a bilateral arrangement. This development follows Mizuho Bank’s equity investment for a 15% stake in CS India, with an investment of USD 145 million in 2024 which further deepens the strategic relationship between the two financial institutions. The equity stake marked Mizuho Bank’s strategic entry into the Indian market via Credit Saison India, and this latest ECB investment further strengthens that long-term partnership.

This transaction is funded through Mizuho’s GIFT City branch with a 5-year tenor that adds to Credit Saison India’s robust funding mix and enhances its long-term financial resilience. In April, Credit Saison India had secured a syndicated loan of USD 200 million with the participation of Axis Bank (India), DBS Bank (Singapore), and CTBC Bank (Taiwan), and raised another USD 100 million ECB from a major Indian bank. The latest bilateral ECB of USD 150 million from Mizuho Bank further builds on this momentum and enhances the company’s diversified funding base, bringing its total ECB facility to USD 450 million within a single quarter.

Credit Saison India has been diversifying its funding sources through the issuance of bonds and commercial papers, alongside borrowings from over 35 local financial institutions supported by its AAA long-term ratings from CRISIL and CARE. The recent ECB further bolsters the funding strategy, and allows access to capital from international banks and institutions.

This growing pool of funding enables CS India to support a wider range of borrowers through its co-lending platform and significantly expand its direct lending operations, especially in MSME and secured lending segments.

Ms. Presha Paragash, Whole Time Director & CEO of Credit Saison India, said “Mizuho Bank has been a strategic partner in our journey and chose Credit Saison India as its platform to enter the Indian lending market through equity participation. Over the past few years, the partnership has only deepened – now spanning equity, debt, and ECB support. This ECB transaction, after their equity investment in 2024, demonstrates deep conviction in our growth model and long-term potential in India. It also reflects the strength of our multi-product, multi-vertical focused business strategy, and gives us the power to accelerate our plans to scale the business and expand our pan-India footprint.”

Mr. Anudeep Ganguli, Chief Treasury Officer of Credit Saison India, added, “With the latest ECB facility, Mizuho Bank now supports Credit Saison India across the capital stack, debt, equity, and now external commercial borrowings. This is not only a vote of confidence in our business fundamentals and governance but also a significant milestone that firmly anchors our partnership strategically for the long-term. There is a deep alignment of vision and commitment for India together as we move forward our strategy of building a diversified, cost-efficient funding base to remain resilient in today’s evolving macro-environment.”

Mr. Masaaki Kaneko, Senior Managing Director / India Co-Country Head, India Corporate Banking Department from Mizuho Bank commented, “We believe in Credit Saison India’s robust, tech-driven lending model and its vision to promote financial inclusion at scale. We are confident in the company’s growth trajectory, leadership, market potential and governance practices. India continues to remain an important geography for us and we are committed to supporting the aspirations of the growing economy. Driven by strong economic fundamentals, rapid digital adoption, and a large underserved credit market, India presents one of the most compelling long-term opportunities in the global financial landscape.”

Through these efforts, Credit Saison India continues to strengthen its financial foundation to withstand interest rate fluctuations and macroeconomic shifts, while expanding its outreach to individuals and MSMEs in need of credit.

As part of the broader Saison Group, the company is also committed to advancing global financial inclusion by sharing its learnings from India across other emerging markets, including Brazil and Mexico.

L and T secures contracts for Building and Factories Business

Chandigarh, May 14, 2025: The Buildings & Factories (B&F) vertical of L&T has secured large orders from various state and central government undertakings in India.

It has secured an engineering, procurement & construction (EPC) order from the Central Public Works Department (CPWD) for the construction of Common Central Secretariat buildings 6 & 7 in New Delhi. The project encompasses two buildings of 1 basement + 2 podiums + upper ground + 6 floors configuration.

L&T’s scope involves civil structure, finishes, associated MEP services, as well as external development within the site, and operation & maintenance for five years.

B&F has also secured a design & construction order from the Government of Andhra Pradesh for the construction of the State Legislative Assembly. The project scope includes construction of the Assembly building having one basement + ground + 3 floors configuration.

Both these projects are to be executed within a stringent timeline of 18 months.

Background:

Larsen & Toubro is a USD 30 billion Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing, and Services, operating across multiple geographies. A strong, customer–focussed approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

JW Marriott Mumbai Sahar Welcomes Mr. Chirag Lacca as Director of Sales

Mumbai, May 2025: JW Marriott Mumbai Sahar is pleased to announce the appointment of Mr. Chirag Zubin Lacca as the new Director of Sales.

A proactive, ambitious hospitality professional, Chirag brings with him a deep-rooted commitment to excellence and exceptional industry expertise with over 10 years of experience. Armed with a B.A. (Hons.) degree in Hotel Management from IHM Aurangabad, Chirag thrives in deadline-driven hospitality environments.

With a track record of Profit and loss-focused success, he has excelled in cultivating excellent relationships with not just the existing clients, but also newer prospects. Over the years, Chirag has driven revenue growth and ensured profitability across clients globally. Chirag’s contributions have earned him numerous achievements, he has successfully fostered key partnerships with Public Sector Banks (PSB)’s to tie-up for Holiday Home Plan across 40 hotels of IHCL Portfolio thereby increasing account contribution by 115% over preceding years. Chirag has retained key accounts which contribute to a tune of 20% of Non-Resident Banquet Revenue to the Flagship – Taj Mahal Palace & Tower. Ancillary programs of the group were effectively leveraged to increase segment sales to PSU, PSB’s and Key corporates in the portfolio.

His illustrious career spans across esteemed brands like Taj Hotels and Accor Hotels. Prior to joining JW Marriott Mumbai Sahar, Chirag was at GSO Pune and held the position of the Associate Director of Sales for Taj. He has also played a pivotal role as the Director of Sales in Taj Wellington Mews, Mumbai; Account Manager at Indian Hotels Company Limited, South Mumbai (PSU, Corporates); Sales Manager at Taj Wellington Mews, Luxury Residencies, Mumbai; and  Assistant Sales Manager at Novotel Hotels, Goa.

In his new role, Chirag will be responsible for handling complex negotiations and implementing strategic sales initiatives that align seamlessly with the brand’s pursuit of elevated guest experiences. With a strong belief in a Collaborative Workstyle, Chirag will work closely with all the business segments emphasizing teamwork, trust, and tolerance, thus fostering an environment conducive to achieving financial objectives while maintaining high levels of customer satisfaction.

JW Marriott Mumbai Sahar is thrilled to welcome Chirag Lacca and looks forward to his contributions in furthering the hotel’s growth and success.

SuperBottoms achieves 95% delivery success rate with Shipway integration

Delhi NCR; 13th May 2025: SuperBottoms, a sustainable baby and mother care brand, has partnered with Unicommerce-owned Shipway Technology Private Limited (‘Shipway’) to streamline and optimise its logistics operations.

Founded by Pallavi Utagi in 2018, SuperBottoms is leading India’s “Guilt-Free Diapering” revolution by empowering parents to ditch disposable diapers in favour of safe, sustainable cloth diapers. Given its customers’ close dependence on timely and reliable diaper deliveries, SuperBottoms deployed logistics management platform Shipway to handle deliveries in metros and tier 1 cities, where most of its customers are.

Through its integration with Shipway, SuperBottoms has achieved improvements in its logistics performance. These include achieving a 95% delivery success rate through algorithm-driven courier partner selection. The Shipway’s technology platform utilises algorithms that factor in location, product type, and packet size and delivery time window to select the most-suited courier partner for each shipment.

Prompt order acceptance and processing and digitised order segregation removes any process delays. Shipway’s technology provides end-to-end visibility and control over order fulfilment with its unified shipping allocation platform.

Pallavi Utagi, Co-founder of SuperBottoms, commented, “Our customers place a lot of reliance on our commitment to make time-bound, error-free deliveries. Our partnership with Shipway has transformed our logistics operations, with higher delivery success rates and reduced RTOs. The unified platform has given us greater visibility and control, directly translating to better customer satisfaction and significant cost savings. This partnership is a key enabler in our journey to scale efficiently and delight our customers.”

“Our technology-driven capabilities drive operational efficiencies and cost savings. We are delighted to deliver high-impact outcomes for SuperBottom as they expand their business and establish high customer service standards,” said Saurabh Kumar Choudhary, Chief Business Officer at Shipway

SuperBottoms also uses Unicommerce’s Uniware platform to manage orders from its website and to service orders received through marketplaces such as Meesho, quick-commerce channels like Zepto, and baby-focused brands such as FirstCry. Uniware provides a unified dashboard for orders across multiple channels, making operations more efficient. Real-time inventory synchronisation across platforms reduces the risk of overselling and stock-outs, while automated order processing and fulfilment speed up dispatch and minimise manual errors.

According to a report by Mordor Intelligence, India’s baby care market is worth USD 4.94 billion and is expected to grow at a CAGR of 11.76% to USD 8.61 billion by 2030. Data analysed by Unicommerce shows that online order volumes for baby care products grew by 30% in FY24 across India’s Tier 2 and 3 cities. This highlights the rapid shift towards e-commerce and the growing demand for convenient, high-quality baby care solutions beyond metro areas.

Udaipur Marriott Hotel Strengthens Leadership Team with Key Appointments

National, 13th May 2025: Udaipur Marriott Hotel, the first hotel in Udaipur under the flagship Marriott Hotels brand today announced the appointment of key leadership roles across verticals, further solidifying its commitment to delivering exceptional guest experiences, operational excellence, and brand growth.

Tapan Mudgal joins Udaipur Marriott Hotel as Director of Food & Beverage, bringing over a decade of experience and having been part of the pre-opening team since January 2025. In his new role, he will lead the F&B division across the 226-room property, focusing on revenue growth, operational excellence, and elevated guest experiences. Previously, as Director of F&B at Jaipur Marriott, Mudgal achieved record-breaking revenues and successfully led high-profile events. Known for his people-first leadership and commitment to talent development, he is set to play a pivotal role in defining the hotel’s culinary and service standards.

Arjun KS, Director of Finance, brings with him 14 years of rich experience and a sharp focus on financial strategy and associate development. His Marriott journey began at JW Marriott Hotel Bengaluru, and he has since held key roles across multiple properties including Courtyard by Marriott Shillong, Courtyard & Fairfield by Marriott Outer Ring Road Bengaluru, Sheraton Hyderabad, and Renaissance Bengaluru Race Course Hotel. Prior to this, he served as Director of Finance at Moxy Mumbai. With deep expertise across the Marriott portfolio, Arjun is well-positioned to drive financial excellence and support the hotel’s long-term growth.

Manish Vishwa, appointed as the Director of Engineering, brings over 20 years of experience in engineering operations across leading hospitality brands, including Hyatt, Marriott, and Amari, contributing his expertise to hotel pre-openings, refurbishments, and ongoing operations. His focus on infrastructure management and cost-effective solutions will be key to maintaining the hotel’s operational excellence.

Khushboo Sharma has been appointed Assistant Director of Human Resources at Udaipur Marriott Hotel. With 13+ years of experience, she began her career at Taj Lake Palace and has worked with Oberoi, Radisson, and Marriott since 2021. Most recently with Courtyard by Marriott Ahmedabad, Khushboo brings a people-first approach rooted in respect, excellence, and a passion for empowering teams.

Harish Chauhan has been appointed as the Room Division Manager bringing a strong track record from leading roles at The Westin Pushkar, Raffles Udaipur, and Hilton Jaipur. With a focus on guest satisfaction, team development, and operational excellence, his leadership is set to elevate the hotel’s service standards and overall guest experience.

Akhilesh VR, appointed Executive Housekeeper, brings 16 years of experience managing housekeeping operations across leading hotel brands such as Marriott International, Radisson Blu, Hyatt, ITC The Luxury Collection, and Club Mahindra Holidays. His expertise in team leadership and operational efficiency will be integral to maintaining high standards of guest satisfaction and quality at Udaipur Marriott Hotel.

Pradip Chandra Das has been appointed as the Loss Prevention Manager, with a strong background in safety and security across Marriott properties. His extensive certifications and experience managing high-risk situations will enhance safety and security at the hotel.

Shiv Prakash joins Udaipur Marriott Hotel as IT Manager, bringing over a decade of expertise in hospitality tech across marquee Marriott properties like JW Marriott Jaipur and Jaisalmer Marriott. Skilled in system integrations, compliance, and pre-opening setups, Prakash will ensure seamless and future-ready IT operations at the hotel.

Paramjot Soni joins Udaipur Marriott Hotel as Marketing and Communications Manager, bringing extensive experience across Marriott, IHG, and Chalet Hotels. With expertise in digital marketing, PR, brand partnerships, and content strategy, she’s known for her creative vision and hands-on approach. Paramjot will lead impactful campaigns to elevate the hotel’s visibility and positioning.

These strategic appointments mark a significant milestone in Udaipur Marriott Hotel’s journey, bringing together a dynamic team of seasoned professionals dedicated to upholding the brand’s promise of excellence.

From Care to Global Collaboration: Manipal Hospital Yeshwanthpur’s Dr. Vinay Munikoty Venkatesh Joins SIOP as South India’s Country Ambassador

Bengaluru, India – Cancers in children are uncommon. About 5–10% of all cancer cases globally are caused by them. Cancer is a serious health issue in India, where more than 75,000 children and adolescents receive a diagnosis each year. Treatment improvements have resulted in survival rates of up to 90% in high-income countries, compared to only 30–40% in resource-constrained countries. This underscores the critical necessity for strong healthcare access and quality.

This is where international bodies like the International Society of Paediatric Oncology (SIOP) play a critical role. SIOP, the world’s largest global consortium dedicated to childhood cancer, works relentlessly to improve outcomes for children with cancer through education, research, advocacy, and capacity building. With members spanning doctors, nurses, and allied healthcare professionals, SIOP helps shape the future of paediatric oncology through shared knowledge and global collaboration.

In alignment with SIOP’s mission, Manipal Hospital, Yeshwanthpur has consistently prioritized excellence in paediatric oncology through multidisciplinary treatment, advanced technologies, and compassionate care. Recognizing these sustained efforts, Dr. Vinay Munikoty Venkatesh, Consultant – Paediatric Haematology Oncology and BMT, Manipal Hospital Yeshwanthpur and Whitefield, has been chosen as a SIOP Country Ambassador for South India – a proud milestone for both Dr. Vinay and Manipal Hospitals.

As one of only three ambassadors from India this year, Dr. Vinay will represent South India in SIOP’s Asia division, focusing on building professional networks, increasing awareness of childhood cancers, and improving access to equitable cancer care in the region. His work will also involve facilitating collaboration among paediatric oncologists, supporting continuing education, and contributing to national data and advocacy efforts.

Reflecting on his role as SIOP Country Ambassador for South India, Dr. Vinay shared, “This role is an opportunity to amplify our collective voice for children with cancer. My goal is to bridge gaps in awareness, access, and outcomes, especially in underserved areas. Every child deserves the best chance at life, and I hope to make a meaningful difference by representing India’s commitment on the global stage.”

This selection stands as a testament to Manipal Hospitals commitment to advancing paediatric oncology and contributing to global health leadership. It also reflects India’s growing presence in international platforms dedicated to transforming childhood cancer care. Dr. Vinay’s new role reinforces the hospital’s vision — to not just treat, but to lead, inspire, and build a healthier future for children across the region.