Category Archives: Business

IGI Appoints Industry Stalwart Anoop Mehta as Chairman and Independent Director

New Delhi, 10 June 2025: The International Gemological Institute (IGI), a global authority in diamond and gemstone certification, today announced the appointment of Mr. Anoop Vrajlal Mehta as Chairman and Independent Director of the IGI Board, effective June 6, 2025, subject to the approval of Shareholders.

A visionary leader and stalwart of the global diamond industry, Mr. Mehta brings over five decades of experience in shaping the Indian and international gem and jewellery landscape. He is currently the Chairman and Managing Director of Mohit Diamonds Pvt Ltd., President of the Bharat Diamond Bourse (BDB). He also serves on key industry bodies, including the World Federation of Diamond Bourses and the Gem & Jewellery Export Promotion Council.

His appointment marks a significant milestone in IGI’s journey, reinforcing the organization’s commitment to excellence, transparency, and responsible growth within the gems and jewellery industry.

Commenting on this development, Mr Tehmasp Printer, Global CEO of IGI, said, “We are honoured to welcome Mr. Anoop Mehta to IGI’s Board. A true veteran of the diamond industry, Mr. Mehta brings a wealth of knowledge, deep-rooted insight, and strategic vision. His extensive experience within the global diamond ecosystem will be invaluable in shaping IGI’s direction and advancing our mission to lead with expertise and integrity in gemological science.”

Mr. Printer further said, “The appointment underlines IGI’s focus on strengthening governance, enhancing stakeholder value, and playing a vital role in shaping the future of the diamond and jewellery sector in India and beyond.”

Commenting on his new role, Mr. Mehta stated, “IGI has long been a pillar of trust and expertise in gem certification. I look forward to contributing to its legacy of excellence and supporting its growth ambitions, especially in an era where consumer confidence and authenticity are paramount.”

Mr. Mehta played a pivotal role in the conception and realization of the Bharat Diamond Bourse, inaugurated in 2010 under his stewardship, which has since positioned India prominently on the global diamond map. Recognized with multiple Lifetime Achievement Awards, including from the GJEPC, his leadership continues to inspire transformation in the trade.

SFLC.in concludes “AI in Conversation”: A Week-long Dialogue on Building Ethical and Accountable AI Systems

New Delhi, June 10, 2025: Software Freedom Law Center, India (SFLC.in) successfully concluded its five day event-series “AI in Conversation” held from 26th until 30th May, 2025. The event brought together technologists, journalists, civil society actors, and global policy leaders to reflect on the rapid rise of artificial intelligence and its implications for democracy, privacy, free speech, journalism, and the environment. Throughout the discussion sessions, speakers explored how AI is reshaping the digital public sphere, the need for ethical guardrails, and the responsibilities of various stakeholders in building inclusive and accountable AI systems.

The series began with a keynote on May 26, on “Building Responsible AI Models: Opportunities and Challenges Faced in the Indian Context” given by Praveen Chandrahas, Secretary, Swecha. The key points emphasised the importance of developing AI tailored to India’s multilingual and diverse use cases, addressing infrastructure and data access challenges, and ensuring transparency in source code and licensing.

On May 27, the panel “From Consent to Control: Privacy in the AI Era” brought together experts including Gus Hosein, Executive Director of Privacy International, who argued that, “We need to stop talking about consent and start talking about the democratic license for these systems to exist… in the context of human rights and civil liberties.” Speakers emphasized that traditional frameworks around user consent are no longer sufficient and called for more robust, participatory models of governance that center around human rights and lived realities, particularly in the Global South.

The third day featured two keynotes, first by Nithya Ruff, Chair of the Linux Foundation Board, on “Open Source and AI” and the other one followed by Rebecca MacKinnon, Vice President of Global Advocacy at Wikimedia Foundation, on “Free Speech and AI in the Era of Global Uncertainty and Information Warfare.” Nithay highlighted that open source is vital for nations to develop AI that reflects their unique cultures, values, and languages and it’s customization, transparency, and fine-tuning via open source can help with building public trust and meet regulatory demands for explainable AI.

Mackinnon warned of the growing pressure on platforms to censor content under the guise of combating fake news and stressed that, “Regulators are encouraged to focus on business models that incentivize disinformation rather than content takedown, which is often abused to silence critics.” The conversation underscored the delicate balance between platform accountability and the protection of fundamental rights.

On May 29, the panel “AI and the Changing Landscape of Journalism” included perspectives from Itika Sharma (Deputy Editor, Rest of World), Vineet Bhalla (Legal Correspondent, Scroll.in), and Binayak Dasgupta (Editor, Hindustan Times), who examined how AI tools are transforming newsrooms from automated reporting to the detection of deepfakes.

The last session on May 30, featured a keynote by Dona Mathew, researcher at Digital Future Labs, titled “Human and Environmental Costs of the AI Race.” The key note addressed the often-overlooked ecological toll and exploitative labor practices that underpin large-scale AI infrastructure, urging greater transparency in the AI supply chain and stronger labor protections.

Reflecting on the event, team SFLC.in stated, “AI has outpaced the conversations around it, but that doesn’t mean we should cede the space. Through this series, we’ve attempted to slow down and ask: Who builds AI? Who benefits? And who bears the cost? This is a pivotal moment for Indian technologists, policymakers, and civil society to assert what kind of digital future we want and who it’s accountable to.”

“AI in Conversation” provided a critical space for cross-sector engagement at a time when regulatory frameworks are still emerging, and the global AI race continues to accelerate. SFLC.in remains committed to promoting open, inclusive, and rights-respecting discussions on technology and society, and will continue to advocate for policies that ensure AI serves the public interest.

Achilles launches Comply360 to streamline enterprise sustainability reporting and compliance

Abingdon, UK – 10 June 2025 – Achilles, a global leader in supply chain risk and performance management, today announced the launch of Achilles Comply360, a purpose-built enterprise software solution to simplify and automate non-financial reporting.

As regulatory, investor and stakeholder demand for transparency increase, many businesses face challenges collecting, validating and reporting ESG and other data. Achilles Comply360 addresses these challenges by providing a single, configurable platform that brings together data collection, reporting automation, project management and framework alignment – all with audit-readiness built in.

“Sustainability reporting is no longer optional for many organisations, but it remains a resource-heavy, fragmented process,” said Mark Chamberlain, Chief Product Officer at Achilles. “Achilles Comply360 is designed to give enterprises the confidence, accuracy and structure they need to meet their reporting obligations efficiently and consistently, without increasing internal burden.”

Comply360 integrates seamlessly with ERP systems, third-party tools, and Achilles’ own platforms, Carbon Accounting and Supply Chain 360, to deliver comprehensive, connected reporting. It leverages specialist AI developed by Achilles’ AI division, InfoControl, to extract data from company documents and auto-populate structured, semi-narrative, and narrative disclosures with high accuracy.

The platform supports reporting under leading frameworks including CSRD, IFRS, and GRI, while also offering full customisation for sector-specific or investor-driven requirements. An integrated carbon estimator, powered by internationally recognised GHG Emission Factors, enables accurate emissions calculations using real operational data. For further automation, users can enhance functionality by adding Achilles Carbon Reporting.

Comply360 also streamlines collaboration and accountability, allowing users to assign reporting tasks by subject area, sub-section, or individual data point. Built-in collaboration tools and real-time performance dashboards provide clear visibility across teams.

“Comply360 puts Achilles rigour and cutting-edge AI-enabled automation at the heart of ESG reporting,” said Chamberlin. “It helps organisations demonstrate due diligence, meet regulatory requirements, and maintain stakeholder trust – more efficiently and effectively.”

Achilles Comply360 is available globally in 10 languages and can be implemented in line with an organisation’s materiality assessment and reporting priorities.

Crystal Crop Protection Limited launches “RICEACT” – a “revolutionary” herbicide for paddy cultivation

India, 2025: With a keen focus towards expanding its footprint in the herbicide segment, Crystal Crop Protection Limited (CCPL), India’s leading agro-chemicals solutions company today announced the launch of a major research-driven herbicide.
This comes at a time when India’s crop-protection market is projected to grow from ~ USD 2.59 Bn in 2025 to ~ USD 3.21 Bn by the year 2030 with a CAGR of 4.35 percent.

 To further its growth and reinforce its position as a market leader in the segment, CCPL has today launched RICEACT, a next-generation solution tailored specifically for rice cultivation. Once introduced, RICEACT is expected to cover ~ 3 lakh acres of paddy and directly connect with over 2.5 to 3 lakh progressive paddy farmers across key markets.

 With the launch of RICEACT, Crystal Crop Protection is expecting to increase its herbicide portfolio by ~ 8 percent.
As a part of its launch, Crystal will be introducing RICEACT across key markets in Andhra Pradesh, Tamil Nadu, Telangana, West Bengal and Karnataka.

 RICEACT is a powerful early post-emergence herbicide that brings together two highly effective active ingredients — “Triafamone” (20%) and “Ethoxysulfuron” (10%)—offering a robust dual mode of action, providing effective control on various weeds. It works efficiently across transplanted and wet direct-seeded paddy crops, managing a broad spectrum of grasses, sedges, and broadleaf weeds that are known to significantly affect paddy yield and profitability.

 With a unique combination of two active ingredients, RICEACT ensures early weed control and provides season-long residual control. While Triafamone acts through the roots and leaves of the weed and inhibits critical enzyme activity, Ethoxysulfuron is absorbed through foliage and disrupts weed development through systemic action. Together, they effectively block the Acetolactate Synthase (ALS) enzyme, resulting in complete weed mortality with superior crop safety.

 Ankur Aggarwal, Managing Director, Crystal Crop Protection, said, “Crystal is deeply committed to transforming the rice farming landscape in India. With RICEACT, we bring an advanced solution that combines innovation with performance – ensuring our farmers can protect their crops better, reduce losses and maximize returns.”

 This innovative product is designed to be applied as an early post-emergence spray, ideally when weeds are in the “1–3 leaf stage” and with an application window of “8-12 DAT/DAS”. With a recommended dose of 90 g per acre, RICEACT provides a unified solution for effective weed management in rice cultivation, reducing labour dependency and increasing operational efficiency.

 RICEACT will be made available across India through Crystal’s extensive dealer network, focusing on key rice-growing states. It will be offered in convenient 45g, 60g, and 90g pack sizes, and will be actively promoted through field demonstrations, farmer engagement drives, and comprehensive training programs to ensure effective adoption and usage.

 Sohit Satyawali, Vice-President – Sales & Marketing, Crystal Crop Protection, said, “Weed management continues to be one of the most critical challenges in paddy cultivation. RICEACT is a strategic product that ensures longer duration control and broad-spectrum control with a long-lasting impact, while safeguarding the crop and simplifying farmer operations. This product underlines our focus on smart farming and farmer-centric innovations.

 Today, as India’s farmers move towards increased usage of crop-protection products, it will pave the way to unlock the vast potential that can benefit the country’s economy.

Culture Circle Dedicates Its First Sneaker Launch to the Indian Armed Forces

New Delhi, India | May 2025: Culture Circle, India’s leading hype and luxury fashion platform, today announced that it is dedicating the launch of its first-ever sneaker “The Winner” to the Indian Armed Forces, in a heartfelt gesture of solidarity and gratitude. As a mark of respect to the soldiers safeguarding our nation, the brand has pledged that 100% of the proceeds from the sale of this limited-edition sneaker will go towards war relief operations and veteran welfare initiatives.

Originally conceived as a symbolic product representing resilience, ambition, and the pursuit of victory, The Winner has now taken on a much deeper meaning. The brand, known for its bold, youth-first identity, is using this moment to shine a light on those who embody true courage and selflessness – the men and women of the Indian Army and Navy.

“At this time, when our country has once again witnessed the strength and resolve of our armed forces, it only felt right to redirect the narrative,” said Ackshay Jain, Co-Founder of Culture Circle. “This sneaker was meant to represent the idea of a ‘Winner’ and there is no one who deserves that title more than the soldiers who put their lives on the line to protect ours. It’s not just a tribute but it’s our responsibility as a brand born in India, for India.”

Limited to just 42 pairs, The Winner will retail at ₹51,000, a symbolic nod to the 51 lakh+ active personnel across the Indian armed forces. Each pair sold will directly contribute to meaningful impact, as funds will be directed to verified war relief and rehabilitation programs aimed at veterans and their families.

“Fashion, when done right, has the power to stand for something bigger,” said Devansh Jain Nawal, Co-Founder of Culture Circle. “We’ve always believed that Culture Circle is more than a retail platform, it’s a reflection of the times we live in and the values we uphold. This drop is not about hype. It’s about heart. It’s about honouring those who are the real backbone of our freedom.”

This move is aligned with Culture Circle’s growing commitment to purpose-led initiatives and social impact. By choosing to channel a commercial launch into a cause-based contribution, the brand is setting a precedent for how youth-driven businesses can participate meaningfully in national solidarity.

HDFC Life Declares Rs. 4102 Cr. Bonus for Policyholders

Mumbai, June 10, 2025: HDFC Life, one of India’s leading life insurers, has announced a bonus of Rs. 4102 cr. in the Company’s Board Meeting held on 17th April 2025. This is the highest ever bonus declared by HDFC Life on its participating* policies, benefitting over 21.90 lakh policyholders. What makes this milestone even more special is that it coincides with the 25th year of HDFC Life’s journey!

From the total bonus declared, an amount of Rs. 3232 cr. will be payable to policies in the current Financial Year as part of survival or maturity payouts and the remaining will accrue as policy benefits and will be paid when these benefit payments are made in subsequent financial years.

The annual bonus declared by HDFC Life has approximately doubled every four years, thus reflecting consistent growth in with-profits fund performance and policyholder value. The Company has declared a total cumulative bonus amount that exceeds Rs. 22,500 cr. across all eligible participating policies since inception.

Eshwari Murugan – Appointed Actuary, HDFC Life, commented, “I am delighted to announce that HDFC Life has declared its highest ever bonus this year. Policy bonuses are a loyalty reward for policyholders who continue for the long term. As we complete 25 years of our journey, we remain committed to our promise of providing value to all stakeholders.

It is our endeavour to secure our policyholders and their families financially with life insurance, thus enabling them to face challenges with confidence and prepare for the future. With a customer-focused approach, we will continue securing lives and contribute towards achieving the vision of ‘Insurance for All by 2047’.”

Avaada Electro Powers India’s Solar Leadership: First to Launch 720 Wp TOPCon Modules, Butibori ALMM-Certified, Scaling to 12 GW Integrated Manufacturing

New Delhi / Nagpur / Noida, June 10, 2025 – In a landmark stride for India’s clean energy manufacturing ecosystem, Avaada Electro (www.avaadaelectro.com), the solar manufacturing arm of Avaada Group, today announced that its state-of-the-art Butibori facility in Nagpur, Maharashtra has been officially included in the Approved List of Models and Manufacturers (ALMM) by the Ministry of New and Renewable Energy (MNRE).

The ALMM listing includes Avaada’s Glass-to-Glass G12 modules (up to 720 Wp) and G12R modules (up to 630 Wp). The Butibori plant, equipped with self-adaptive AI-integrated production lines and a smart energy management system, is one of India’s most advanced module manufacturing sites operating at a Takt time of 16 seconds. The plant is rapidly scaling up to 7 GW capacity by next month, reinforcing Avaada’s leadership in high-efficiency solar technology.

Pioneering High-Efficiency TOPCon Modules

In parallel, Avaada Electro has also commercially launched its BIS-certified N-type TOPCon solar modules in both 720 Wp and 630 Wp variants. With a best-in-class efficiency of 23.32%, these modules represent a leap in next-gen solar performance. Shipments of 595 Wp, 600 Wp, and 605 Wp TOPCon modules have already commenced from Avaada’s fully operational Dadri facility, with 720 Wp modules being dispatched from Nagpur.

India’s Largest Integrated Solar Manufacturing Ecosystem

Avaada Electro is scaling towards a 12 GW solar module and 12 GW solar cell manufacturing capacity by the next financial year. This integrated ecosystem spans ingots, wafers, glass, encapsulants, packaging, and other critical components—placing Avaada at the forefront of India’s solar self-reliance journey.

The Dadri facility, already ALMM-certified, runs on green power and showcases AI-powered defect detection systems that outperform human inspection in precision and reliability. Avaada’s facilities also leverage cloud computing and real-time energy analytics to minimize environmental impact, aligning with our commitment to greener, smarter manufacturing.

Vineet Mittal, Chairman & Founder, Avaada Group, said: “Our journey at Avaada Electro is rooted in innovation, scale, and sustainability. With ALMM certification of our Butibori plant and the commercial launch of our 720 Wp and 630 Wp N-type TOPCon modules, we are proud to lead India’s solar manufacturing revolution.

Our AI-driven, energy-optimized, and fully integrated solar manufacturing ecosystem is a symbol of India’s industrial resilience and Avaada’s unwavering commitment to the Hon’ble Prime Minister’s vision of Atmanirbhar Bharat.”

Hiranandani Communities Launches Rs1,100 Crore Residential Project “The Arena” in Panvel

Mumbai, India, 10th June 2025—Hiranandani Communities, under the leadership of Niranjan Hiranandani, is pleased to introduce The Arena, a premium residential project strategically located within Hiranandani Fortune City, Panvel. Spanning over 10+ acres, this thoughtfully designed development in the Mumbai Metropolitan Region (MMR) is positioned to benefit from transformative infrastructure advancements. Comprising eight elegant towers, the project offers more than 1,700 upscale residences. Phase 1 unveils the first three towers, featuring 600 premium 2, 3, and 4 BHK units ranging from 730 sq. ft. to 1,900 sq. ft., meticulously crafted to meet the evolving demands of modern homebuyers. The Arena is poised to set a new benchmark in luxury living, with a projected topline revenue exceeding ₹1,100 crore in its first phase.

The 588-acre integrated township of Hiranandani Fortune City epitomizes the next wave of Mumbai’s real estate transformation, driven by unparalleled infrastructure connectivity and aspirations for an upgraded standard of living. Within this township, “The Arena” introduces an elevated living experience, merging luxury residences with a sports colosseum promoting active lifestyle. These luxury apartments prices begin at ₹1.31 crore for 2 BHK units and ₹1.77 crore+ for 3 and 4 BHK configurations, offering discerning buyers an exceptional early-mover investment opportunity poised for significant capital appreciation in the long term.

As Mumbai evolves into its “Mumbai 3.0” phase, Panvel is emerging as the region’s next economic and real estate fulcrum,boosting GDP as a new center of gravity. Major infrastructure projects like the Mumbai Trans Harbour Link (MTHL), Navi Mumbai International Airport, freight corridors, suburban railway and regional highway projects have positioned Panvel as the gateway to accelerated economic progress. Seamless connectivity through improved road, rail, air, and sea networks is bolstering the area’s desirability among homebuyers and investors alike, creating strong demand across residential, commercial, and industrial segments.

According to Dr Niranjan Hiranandani, Chairman, Hiranandani Communities, “Panvel’s growth potential is further fuelled by rising per capita income, expanding employment opportunities, and the migration of talent seeking holistic residential solutions. Aspirational buyers, including millennials upgrading their lifestyle and NRIs gravitating towards investment friendly yet high-ROI investments, are drawn to branded developments like Hiranandani Fortune City for their seamless integration of luxury, quality, and community living.The township features future-ready commercial hubs fostering employment growth, global-standard education through the expansion of Hiranandani International School, and upcoming healthcare, entertainment, and recreational amenities that offers vibrant lifestyle destinations.”

With sustained demand for luxury living, “The Arena” caters to aspirational homebuyers seeking an upgrade in their quality of life. Capitalizing on Panvel’s connectivity-driven momentum and leveraging its infrastructure-led economic growth story, buyers today are uniquely positioned to enjoy long-term capital appreciation, competitive rental yields, and access to a modern, activity-driven lifestyle.

Panvel is not merely a real estate hotspot; it is the cornerstone of Mumbai’s future economic evolution. The Arena at Hiranandani Fortune City, Panvel addresses the aspirations of buyers while unlocking robust real estate potential for sustained growth and prosperity.

Curefoods’ Subsidiary Millet Express Enters Master Franchise Agreement with EAT360

Bengaluru, 10th June 2025 – Curefoods announced that Arambam, one of the health-focused food brands of it’s subsidiary Millet Express, has signed a Master Franchise Agreement with EAT360, founded by Anand Goud Lingala. This collaboration marks the first master franchise partnership for Arambam, aligning with its structured approach to standardised store formats and regional franchise alliances.

The agreement spans 18 months, during which EAT360 will operate Arambam outlets under a unified model approved by Curefoods — encompassing standardized store size, curated offerings, and brand identity. The rollout is structured, with a target of 20 stores in one year, as part of the terms of Master Franchise Agreement.

Ankit Nagori, Curefoods, said, “We’re pleased to announce this agreement with EAT360, led by Anand Lingala. Arambam was built to reflect a balanced, health-oriented food philosophy rooted in Indian traditions, and we’re committed to maintaining that vision in every outlet. This agreement helps ensure brand consistency while tapping into strong regional expertise.”

Anand Goud Lingala, Founder of EAT360, added, “It’s an honour to partner with Curefoods and represent the Arambam brand. The clarity in their brand vision and operational excellence made this collaboration a fit for us. We’re aligned on quality, consistency, and creating value through disciplined execution.”

This collaboration reflects Curefoods’ emphasis on franchise-led growth, supported by quality control and brand stewardship across all partner locations. Arambam, known for its clean, Indian-inspired meals rooted in traditional wellness principles, has steadily built a consumer base through its approach to healthy eating.

Parryware Unveils New Display Studio in Mumbai to Enhance Customer Experience

Parryware, a leading name in bathroom solutions, is excited to announce the opening of its latest Display Studio in Mumbai. Located at 6 – E Ground Floor, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai – 400053, the studio is set to redefine how customers experience bathroom products.

The Parryware Display Studio offers an immersive environment where customers can explore a wide range of products, including water closets, basins, faucets, thermostatic diverters, showers, body jets, water heaters, flushing systems and bathroom furniture. Designed to provide a hands-on experience, the studio allows customers to interact with the products, helping them make informed decisions for their bathroom spaces.

The studio also features the newly launched Eternal collection, a luxurious and exclusive bathware range that embodies timeless elegance and refined sophistication. Designed for those with a taste for the extraordinary, the Eternal Collection combines premium craftsmanship with enduring style to elevate modern bathroom spaces into expressions of opulence.

“We are thrilled to open our new Display Studio in Mumbai, a city known for its dynamic lifestyle and design sensibilities. This studio reflects our commitment to providing innovative and high-quality bathroom solutions, ensuring that our customers have access to the best products and services.” said Mr K.Nirmal Kumar (Managing Director-RBPPL India).

The studio is open Monday to Saturday, from 10:00 AM to 7:00 PM, and is staffed with knowledgeable professionals ready to assist customers in selecting the perfect products for their needs.