12, Jan 2024
90% MSMEs confident about India’s economy in 2024, reveals NeoGrowth Study
Bengaluru, January 12th, 2024: 90% MSMEs are confident that India’s economy will be resilient or will further improve in 2024, creating an enabling environment to conduct business. Further, supported by government initiatives to enhance ease of doing business and a strong consumer demand, 91% expect their profits to increase in 2024. These insights were revealed in the second edition of the NeoInsights study – ‘MSME Business Confidence Study’ for the year 2024 – released today by NeoGrowth, the MSME-focused NBFC in India, leveraging the digital ecosystem.
The study, which has analyzed responses from nearly 3,000 MSMEs from 25+ top cities in India, highlighted the continued confidence of small businesses in India’s economy, their preparedness to meet consumer demand, and the strategies they planned to implement in 2024 to drive business growth.
Arun Nayyar, Managing Director and CEO of NeoGrowth said: “Similar to 2023, MSMEs have continued to radiate optimism in India’s business environment. From steady growth in profits to expansion plans, their confidence portrays a vibrant picture of prospects for the country’s economic growth in 2024. India’s small businesses will continue to take center-stage in India’s growth story, and we are thrilled to be part of their journey by providing them timely credit to meet their evolving business needs.”
The Year That Was: A 2023 Lookback
In the first edition of the MSME Business Confidence Study conducted with ~3,000 MSMEs to understand their 2023 business expectations, 96% MSME owners expected their profits to increase in 2023 and 75% were optimistic of India’s economy to conduct business. In this survey conducted for the MSME Business Confidence Study 2024, despite the volatile global environment, 3 in 5 MSMEs mentioned that they have met their 2023 business targets. ~80% of women-led MSMEs achieved their business targets set for 2023.
MSMEs Thrive with Government Support in 2023
Over 40% of Micro, Small, and Medium Enterprises (MSMEs) across India experienced a major boost in 2023 with the support of diverse government schemes tailored to their needs. Notably, the manufacturing and wholesale/trade sectors emerged as the biggest beneficiaries, reaping significant benefits from these initiatives. Delhi-based MSMEs availed the benefits from government schemes the most, followed by MSMEs from Pune and Hyderabad.
Optimism Shines for India’s Economy in 2024
Overall, 90% MSMEs are confident of India’s economy in 2024. MSMEs in the wholesale/trading sector are leading the charge on economic optimism, with a resounding 95% expressing confidence in India’s robust growth trajectory for 2024. Supportive government policies and regulations coupled with robust domestic and global demand further fuel this sector’s unwavering optimism.
Retail MSMEs are very optimistic as 94% of MSME retailers expect an increase in profits in 2024. Also, 58% of MSMEs in the Trading/Wholesale segment expect their profits to increase by over 30%.
Consumer Demand Set to Surge in 2024
75% of Wholesale and Trader segment MSMEs remain bullish on consumer demand in 2024, echoing the optimism expressed in 2023. With respect to locations, Delhi is most optimistic where a whopping 87% of surveyed MSMEs anticipate a surge in consumer spending. Bangalore and Pune follow suit with impressive levels of confidence.
Strong credit requirement to continue in 2024
Nearly 60% of businesses across all sectors anticipate the need for credit in 2024. The Wholesale/Trading and Services sectors anticipate the highest demand, with a whopping 64% of businesses seeking credit to boost their operations. Notably, the appetite for loans seems strongest in metropolitan hubs such as Bangalore (88%), Pune (87%), and Delhi (84%).
MSMEs demand convenience from their lender
The top three factors for consideration while choosing a loan provider in 2024 would be quick disbursals, digitally enabled loan journey, and deal terms.
The highest number of MSMEs in Delhi would choose a lender with a digital loan process, whereas MSMEs in Pune prefer loan providers with fast approvals and disbursals.
Expansion spree expected in 2024
~60% of MSMEs plan to open new stores and offer new products or services to their customers in 2024. MSMEs in Bangalore, Delhi, and Pune have shown willingness to expand their presence in 2024. The highest number of MSMEs in the Wholesale/ Trading sector expects business and store expansion in 2024.
Positive sentiment for hiring
44% of MSMEs plan to hire more employees in 2024. Maximum hiring in 2024 is expected by MSMEs in Bangalore and Pune. Some of the focus areas for MSMEs while hiring in 2024 would be creating job opportunities for people with disabilities/ special needs, hiring from smaller towns, and increased share of women in their workforce.
MSMEs going eco-friendly
81% of MSMEs plan to adopt sustainable and eco-friendly practices in 2024. Similar to 2023, MSMEs have rated ‘going plastic-free’ as a key environment-friendly initiative of their business for 2024. In recent times, there has been a notable shift towards sustainability awareness and proactive measures to safeguard the planet.
Digital, the path ahead for MSMEs
In 2024, Indian MSMEs are gearing up for a digital revolution, with 82% planning to harness the power of online tools. This focus goes beyond just “going digital” and delves into five key areas: digital discovery (online selling), digital fulfilment (delivery partnerships and online marketplaces), digital transactions (cashless payments), digital operations (streamlining tasks like bookkeeping and ordering), and digital engagement (through google, social media and customer feedback).
“In all, this optimism across various areas of MSMEs’ businesses starting from digitization to support from government schemes is not only a mere trend but also a powerful engine for the nation’s economic ascent. The fast-evolving digital ecosystem is providing fuel for this engine, with accessible and streamlined credit options unshackling MSMEs from traditional hurdles. 2024 is poised to be a landmark year for these entrepreneurial heroes, propelling India towards its $5 trillion dream,” added Arun Nayyar, Managing Director and CEO of NeoGrowth.
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- By Rabindra
12, Jan 2024
Even an Interim Budget Can Help Real Estate
– By Akash Pharande, Managing Director – Pharande Spaces
The Indian real estate sector, particularly housing, is at a critical juncture as we approach the Union Budget for 2024-2025. Considering the forward momentum seen in 2023, alongside global economic challenges and the stagnation in affordable housing, there are several key areas the sector should focus on in its demands from the upcoming budget.
Though this is an interim budget, traditionally viewed as a stop-gap arrangement before a full-fledged budget post-general elections, it still holds significant potential for addressing immediate concerns and laying groundwork for future policies.
An interim budget, typically presented in an election year, is meant to cover the government’s expenditure for a part of the year until a new government presents the full budget. However, it is not necessarily just a stop-gap arrangement but also an opportunity for the incumbent government to outline its vision and set the tone for future policies.
Real estate stakeholders therefore look to it as an opportunity to introduce critical reforms or support measures, even if they are to be fully fleshed out in the full budget.
1. Addressing the Affordable Housing Challenge
The stagnation in affordable housing has been a critical issue over the past few years. The sector requires:
Enhanced budget allocations for existing affordable housing schemes.
Streamlining of approvals and clearances for affordable housing projects to expedite development.
Tax incentives for developers focusing on affordable housing segments.
2. Tackling Funding Issues
Liquidity crunch has been a significant challenge for real estate developers, especially post the NBFC crisis. The budget should focus on:
Measures to ease liquidity for real estate projects, possibly through dedicated funds or special windows under institutions like National Housing Bank (NHB).
Reforms or relaxations in external commercial borrowing (ECB) norms to allow more foreign capital in real estate.
Strengthening REITs (Real Estate Investment Trusts) framework to attract more investment.
3. Taxation Reforms
- Taxation remains a critical aspect of real estate investment and development. The sector’s demands include:
- Rationalization of GST rates on real estate projects. This is important. While GST aimed to simplify taxes, its structure for real estate has been complex, with issues like input tax credit causing concerns among developers.
- Rationalizing GST rates for raw materials used in affordable housing or providing input tax credit benefits can reduce the overall cost of construction, indirectly benefiting buyers.
- Additional tax deductions for homebuyers, particularly in the affordable and mid-income segments. Currently, under Section 24(b) of the Income Tax Act, taxpayers can claim a deduction on home loan interest. Increasing this limit, especially for affordable housing, would make buying homes more attractive for the lower and middle-income groups. Under Section 80C, there is a deduction for the repayment of the principal amount of home loans. Increasing this limit for affordable housing can be another incentive.
- Enhancing additional tax deductions for first-time homebuyers in the affordable housing segment can also incentivize more people to invest in property.
- Incentives for sustainable and green building practices through tax rebates.
- Providing tax deductions to those offering rental properties in the affordable segment can promote rental housing, which is a critical need in urban areas.
4. Regulatory and Policy Reforms
Policy reforms are essential for sustained growth. The sector needs:
Streamlining RERA (Real Estate Regulation Act) across states for uniformity and better compliance.
Policies promoting rental housing as a viable option, which is critical for urban areas with migrant populations.
Clarity and support for digitization in land records and transactions.
5. Focus on Infrastructure and Urban Development
- Infrastructure is the backbone of real estate growth. The budget should consider:
- Increased spending on infrastructure, particularly in tier 2 and tier 3 cities.
Policies to integrate urban development with transportation, like Transit-Oriented Development (TOD)
6. Encourage Foreign Direct Investment (FDI)
To attract more foreign investment, the budget could:
- Relax FDI norms in certain real estate segments.
- Provide clarity and stability in policies to build investor confidence.
7. Boost Sustainable Development
- With increasing focus on sustainability, the sector requires:
- Incentives for projects adhering to green building norms.
Support for innovation in sustainable materials and construction technologies.
8. Support Technology Adoption
Technology is already revolutionizing real estate. The budget should focus on:
- Incentives for adopting technology in construction and property management.
- Support for PropTech startups through funding and policy initiatives.
Without a doubt, of all the above-mentioned points, affordable housing is the segment which most needs an immediate shot in the arm. The government had set a very high expectations benchmark for it with its Housing for All target. It can go a long way in using this interim budget to set the stage for a robust comeback of this critically important segment.
11, Jan 2024
Introducing Kraft’s Newly Launched Serveware Range: A Blend of Versatility and Style
11th Jan 2024, Mumbai: Drawing on decades of experience serving Indian kitchens, Kraft an Indian tableware brand has unveiled its latest creation, the Kraft Dessert/Pudding Set. Priced at an accessible INR 990, the set is available on Amazon and the brand’s website. This 14-piece selection is exclusively tailored for dessert lovers and highlights the brand’s unwavering dedication to seamlessly blending style and functionality. Featured in the set are stackable serving bowls and cups, meticulously crafted from a durable grade of stainless steel, ensuring product longevity and making it hygienic, food-safe as well as recyclable. Kraft, which is the serveware/tableware division of Vinod Intelligent Cookware, was launched to elevate home dining experiences for customers.
The Kraft Dessert/Pudding Set is perfect for gifting on various occasions. Its thoughtfully compact design facilitates convenient storage, making it an ideal addition to pantries of all sizes. Moreover, the set’s elegant presentation adds a touch of grace to serving desserts, making it the quintessential choice for elevating celebrations and special moments. In addition to this dessert set, customers can find a diverse range of Kraft Tableware Stainless Steel Sets, including the Shehanjali 36 pc set, and the Qubic 55 pc. Dinner Set, the Pari 48 pc. Dinner Set (with several variants), and the Ceremony 51 pc. Dinner Set. Each of these products will be available online; on Amazon and the brand’s parent website.
Commenting on the launch of the new set, Sunil Agarwal, Director at Kraft said, “Our commitment to excellence in kitchenware craftsmanship is epitomised in our Kraft Serveware Range. We believe that dining should be an experience, and this collection is designed to elevate every special occasion. We’ve crafted tableware sets where elegance meets functionality, creating a canvas for your culinary creativity. Our Kraft Dessert Set makes each special moment even sweeter for our customers. Also, the Kraft Dinner Sets have garnered favourable customer reviews, with a recurring trend of reorders, particularly during festive seasons. We continue to depend on customer and market feedback for product development and innovation direction and are dedicated to meeting and exceeding our customers’ expectations.”
The Kraft Serveware product line offers budget-friendly options, with smaller sets (6 pc to 20 pc) priced between INR 2000 to INR 3000. For those seeking larger sets (40 pc to 61 pc), a comprehensive selection is available at prices ranging from INR 6000 to INR 13,000. Buyers will be able to avail of a discount of 15% on all of the sets under the Kraft serveware range. All sets are further backed by a 24-month warranty with readily available replacements in the rare event of manufacturing defects.
11, Jan 2024
Mahindra World City, Chennai signs MoU with Government of Tamil Nadu
Bengaluru, January 11, 2024: Mahindra World City Developers Limited (MWCDL) has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to enable and facilitate investments in excess of Rs 1,000 crores over the next five years. This is expected to generate employment for more than 2,000 people in the state of Tamil Nadu. This comes alongside the launch of Origins by Mahindra – Phase II at Eliambedu village in Chennai, which will be the platform for this investment.
The company has already marked its presence in the district with the successful first phase. Spanning 307 acres, Origins by Mahindra has become a preferred industrial hub for renowned Japanese and Taiwanese enterprises. Notable companies such as Yanmar Engine Manufacturing India Pvt. Ltd., Nissei Electric India Pvt. Ltd., USUI Susira International Pvt. Ltd., Mitsubishi Electric, OMRON Healthcare, Track Designs India Pvt. Ltd., INTJR Precision Technology Pvt. Ltd., Autogrip Machinery India Pvt. Ltd., Masano Seiki Pvt. Ltd, and Ashirvad Pipes Pvt. Ltd. have chosen this as their preferred location. Origins by Mahindra in Chennai is the first industrial cluster in Tamil Nadu to be awarded the prestigious IGBC Green Cities’ ‘Platinum’ rating, underscoring a commitment to sustainable and environmentally conscious industrial development.
Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Limited, said, “As we expand our footprint with Origins by Mahindra Phase – II, the Integrated Cities and Industrial Clusters (IC & IC) vertical of Mahindra Lifespaces continues to accelerate business efficiency and improve go-to-market with plug and play infrastructure. Tamil Nadu’s distinguished business environment further enhances our confidence in expanding our operations here. Mahindra Lifespaces has been an integral part of Tamil Nadu’s business landscape and we applaud the Government’s commitment to furthering business growth in the state. Our commitment to sustainable development and world-class infrastructure also aligns seamlessly with the Indian Government’s ‘Make in India’ program and India’s ambitious growth plan. By creating vibrant and integrated industrial ecosystems, we provide the ideal platform for businesses to thrive, innovate, and contribute significantly to the nation’s economic growth.”
Rajaram Pai, Chief Business Officer – Industrial, Mahindra Lifespace Developers Limited, said, “The launch of Origins by Mahindra – Phase II is a testament to the success and attractiveness of Origins by Mahindra as a destination for companies looking to establish their manufacturing units. This marks a crucial step in our business expansion and growth journey. We believe that our focus on sustainability will also attract industries that share our commitment to environmentally responsible practices and development. We are focusing on a diverse set of industries for this leg of expansion, creating a dynamic ecosystem that will contribute to the economic prosperity of Tamil Nadu and the nation at large.”
Origins by Mahindra, Chennai is situated along NH16, a part of the Golden Quadrilateral, and in close proximity to the Chennai – Bangalore Industrial Corridor (CBIC) and Chennai – Vizag Industrial Corridor (CVIC) near Ponneri, Origins by Mahindra in Chennai enjoys exceptional connectivity. With access to three major ports—Chennai, Ennore, and Kattupalli—and convenient connectivity to Chennai City’s CBD, the industrial park is ideally positioned for business success.
11, Jan 2024
Bharat Tex 2024 Unveils Strategic Alliances with Top Industry Players and Textile Associations
New Delhi, India, January 10, 2024: “Bharat Tex 2024, India’s premier global textile event, which will be held in New Delhi from February 26-29, 2024, at Bharat Mandapam and Yashobhoomi, is set to redefine industry standards. Under the esteemed patronage of the Ministry of Textiles, Government of India, and organised by a Consortium of Textile Export Promotion Councils, this event proudly announces strategic alliances with leading national and international textile associations, corporate entities and Indian states. These collaborations mark a significant leap forward, driving growth, innovation, and sustainability across the textile industry.”
Bharat Tex 2024 is proud to announce Uttar Pradesh as the ‘Partner State’ and Madhya Pradesh as the ‘Supporting Partner State’. Showcasing the regional textile heritage and progressive initiatives in the states, these partnerships are set to catalyse the textile industry, showcasing the legacy of textiles in these states. Bharat Tex 2024 onboard Aditya Birla Group as the ‘Platinum Partner’, Reliance Industries Limited as the ‘Gold Partner’, Arvind Ltd, Indorama Ventures, Trident Group and Welspun Living as ‘Silver Partners, PDS Limited as ‘Fashion Partner’, Shahi as ‘Sustainability Partner’, Chargeurs PCC as ‘Associate Partner’and WGSN as ‘Trend Partner’.
Recognized for their eminence in the textile industry across the world, the collaborations aim to reinforce the commitment of Bharat Tex 2024 to showcase innovation along with India’s rich textile legacy and introduce sustainable practices for propelling the global textile industry.
With innovation, collaboration, and the ‘Make in India’ spirit at its core, Bharat Tex 2024 is the embodiment of Hon’ble Prime Minister Narendra Modi’s 5F vision – Farm to Fibre to Factory to Fashion to Foreign. The event is envisaged to be the biggest textile event at the global level, with 3000+ exhibitors and 40,000+ visitors from over 40 countries. Bharat Tex 2024 will be a comprehensive showcase of the entire textile industry value chain, right from showcasing India’s rich cultural heritage and textile traditions to the latest technological innovations.
The domestic textile associations who have collaborated with Bharat Tex 2024 include the Confederation of Indian Textile Industry (CITI), the Southern India Mills’ Association (SIMA), the Tiruppur Export Association (TEA), the Accessories and Trims Manufacturers Association (ATMA), and the Clothing Manufacturers Association of India (CMAI), the Brands and Sourcing Leaders Association (BSLA), Yarn Ethically and Sustainably Sourced, the Southern Gujarat Chamber of Commerce and Industry (SGCCI), the Garments Exporters and manufacturers Association (GMEA), the Screen Printers’ Association of India (SPAI), the Polyester Textile Apparel Industry Association (PTAIA), the Denim Manufacturers Association (DMA), the Indian International Garment Fair (IIGF), and the Hindustan Chamber of Commerce (HCC). Revered associations from international fronts include the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the International Textile Manufacturers Federation (ITMF).
Mr H K Agarwal, Business Director, Aditya Birla Group, expressed his gratitude for the partnership by stating: “I congratulate the Government of India for supporting a first-of-its-kind premier global event dedicated to the textile sector. We are proud of our association with Bharat Tex 2024 as ‘Platinum Partners’ and look forward to a thriving future of our industry in this auspicious era of ‘Azadi Ka Amrit Kaal.”
Commenting on their collaboration with the event, Mr Rajan D. Udeshi, President- Polyester Chain, Reliance Industries Ltd, said: “We are delighted and privileged to be a key participant in the upcoming grand textile event set to unfold in India on a monumental scale. Our enthusiasm knows no bounds as we align ourselves with the 5F vision championed by our esteemed Prime Minister, a vision that is vividly coming to life through the auspices of Bharat Tex 2024.”
Mr Narendra Goenka, Chairman, Bharat Tex 2024, expressed his views on the new partnerships by saying: “We extend our heartfelt gratitude to our esteemed domestic and international textile associations and corporate partners for their invaluable collaboration in making Bharat Tex 2024 a global success. Partnerships with Uttar Pradesh and Madhya Pradesh mark a significant milestone in transforming the textile landscape and their unwavering support fortifies the fabric of our shared vision, fostering innovation and excellence within the textile industry. Together, we weave a tapestry of boundless possibilities, shaping the future of textiles on a global scale.”
Mr Bharesh Dodhia, Co-Chairman, Bharat Tex 2024, appreciated the new partnerships by stating, “As we gear up to converge at Bharat Tex 2024, our gratitude extends to all the esteemed associations and partners whose collaboration elevates this event to new heights. Their collective expertise and diverse perspectives infuse this platform with innovation and foster unparalleled growth opportunities. These collaborations will forge pathways that will not only enrich the showcase of Bharat Tex 2024 but also ripple across the global textile landscape, driving transformative advancements and inspiring industry evolution.”
Sharing his remarks on coming together for this mega textile event, Mr Rakesh Kumar, General Secretary, Bharat Tex 2024, said: “Embracing the legacy of India’s rich textile heritage and handicrafts, the Export Promotion Council of Handicrafts (EPCH) stands proud as a cornerstone of tradition and innovations. We aim to stitch a vibrant tapestry of creativity, craftsmanship, and commerce. Our commitment resonates through this showcase to foster a dynamic synergy that enriches the textile industry with cultural richness and economic growth.”
Bharat Tex 2024 stands as a testament to India’s unwavering commitment to spearhead the textile revolution on a global scale. The partnerships established underscore the significance of this event as a beacon for fostering international collaborations, pushing boundaries, and propelling the textile industry into a new era of growth and sustainability.
Bharat Tex 2024 aims to catalyse advancements that transcend geographical boundaries and amplify India’s standing as a powerhouse in the textile industry. With a focus on knowledge exchange, technological innovations, and sustainable practices, the collective efforts will redefine the landscape of the textile industry while nurturing an environment conducive to mutual growth and development. This partnership between Bharat Tex 2024 and the textile associations and leading corporate entities underscores its shared commitment to propel the textile sector towards a transformative trajectory.
Bharat Tex 2024 is a consolidated and unique platform to position and showcase India’s entire textile value chain and highlight its strengths in fashion, traditional crafts and sustainability initiatives.
11, Jan 2024
Bahrain Tourism and Exhibitions Authority Readies for a Bustling 2024
National, 11th January 2024 – Bahrain Tourism and Exhibitions Authority (BTEA) invites global travellers to embark on a journey of discovery in 2024, positioning Bahrain as a premier travel destination. The Kingdom of Bahrain, with its strategic geographical location, offers and enticing array of attractions, events, and cultural experiences, making it the ideal choice for travellers seeking a perfect blend of relaxation, adventure and cultural exploration.
In 2024, one can expect Bahrain to stand out as a travel haven to those seeking short getaways, providing ample opportunities to enjoy the many long weekends the year holds. Noted as an evolving travel trend, multiple short getaways are being favored over traditional one or two extended breaks. Bahrain Tourism and Exhibitions Authority would actively like to tap this trend and position itself as an ideal long weekend destination from India.
As a short-haul destination, Bahrain is a quick flight away from India with great connectivity via multiple airlines and cities at highly competitive pricing. It offers a rich cultural tapestry and vibrant experiences to a diverse audience seeking a break from their daily routine. An island nation with pristine beaches, vibrant nightlife, host of luxurious hotels and progressive and hospitable locals, make for an ideal holiday with friends, family and spa-cation alike. For the adventure seekers, Bahrain offers thrilling activities such as indoor sky diving, F1-inspired karting and diving in search of real pearls which will keep visitors engaged and enthralled.
As travellers explore Bahrain in 2024, they will be captivated by the kingdom’s open and inviting culture. Bahrain seamlessly blends rich heritage with modern amenities, offering a unique experience where tradition and innovation coexist harmoniously. Bahrainis take pride in sharing their stories, traditions, and delicious cuisine with visitors, creating an immersive and unforgettable cultural experience.
11, Jan 2024
mPokket Partners with Swapnopuron Welfare Society
National, 11 January 2024: mPokket – India’s fastest-growing loan app – has undertaken a meaningful collaboration with Swapnopuron Welfare Society (SWS), an NGO dedicated to providing quality education to underprivileged children in the remote islands of the Sundarbans. This partnership reflects mPokket’s commitment to its core values of creating an empowered community where every child has an equal chance to realize their full potential.
In the spirit of giving, mPokket employees came together to contribute various stationery items such as chess boards and bags. These items were donated to support the children associated with the NGO. Aimed at easing educational challenges, this effort resonates with mPokket’s vision of enabling a brighter future for India’s youth.
Through Swapnopuron Sikhsha Niketan Schools, SWS adopts a holistic approach to education. The schools provide a unique blend of multi-sectoral teaching, incorporating music, dance, drama, and storytelling to enrich learning experiences. The mission of SWS revolves around promoting socio-economic empowerment and ensuring increased access to entitlements for the community in the Sundarbans.
mPokket welcomed six children from Swapnopuron Sikhsha Niketan Schools, the English medium school run by SWS, to its office on Christmas. The children had the opportunity to engage with the senior leadership team of mPokket, including the Founder & CEO, Gaurav Jalan. The interaction focused on fostering creativity and a personal connection with these children.
Gaurav Jalan, Founder & CEO of mPokket, stated, “We are delighted to collaborate with Swapnopuron Welfare Society in our joint mission to empower underprivileged children with quality education. It is heartening to see the positive impact such initiatives have on the lives of underprivileged children. We remain committed to continuing our efforts to empower the youth.”
This collaboration showcases a sustained effort by mPokket to support SWS in its mission. mPokket aims to contribute to a safer, empowered community where every child has equal opportunities to realize their full potential. This initiative is a small step towards creating a more equitable and inclusive society where children have access to quality education and learning resources.
11, Jan 2024
Portronics Introduces Bella: 3-in-1 Wireless Charger with a Digital Alarm Clock
New Delhi, January 11, 2024: Portronics, India’s most loved portable gadgets brand launches Bella, a 3-in-1 Wireless Charger for Qi-enabled smartphones, TWS earphones, and smartwatches. The charger also features a digital alarm clock that saves space on your nightstand while ensuring convenience and durability.
The Portronics Bella boasts of several convenient and smart features:
Clutter-free design: A phone stand, mat, and cradle lets users place their Qi-enabled smartphones, TWS earbuds, and smartwatches on the Bella stand, allowing them to do away with tangled wires and manage three different charging mats. The Bella can be powered via its USB Type-C port.
Digital alarm clock: Place Bella by the bedside so that all devices are at an arm’s length away. It also sports a digital alarm clock with 12-hour and 24-hour time display options and a handy snooze button for times when you don’t want to get out of bed.
Auto Time Saving: You don’t need to reset the time every time you connect Bella to power, as the replaceable CR2032 lithium battery cell saves your clock settings even when disconnected from power.
Adjustable Display Brightness: The brightness of the LED display of the alarm clock can be adjusted up to 5 levels- Max, Second, Medium, Low, and Off. Easily adjust brightness levels for a peaceful night’s rest or focused work, suiting your needs.
Intelligent fast charging: Powerful 15W output allows users to fast charge when a single device is placed on the stand. It can also intelligently adjust output to 10W, 7.5W, or 5W according to the specific power requirements of the devices.
Wide compatibility: The Portronics Bella is compatible with all Qi-certified devices including iPhones, Samsung Galaxy- S, Fold, Flip, and Note series, smartwatches from Apple, Samsung, AirPods, and Galaxy Buds among others.
Pricing and Availability:
The Portronics Bella can be purchased from the company’s official website Portronics.com for INR 2,099, backed with a 12-month warranty. This 3-in-one charger is available in two colors (Black & White) and can also be bought from Amazon.in, Flipkart.com, and other online and offline stores.
11, Jan 2024
Sanmit Infra Ltd board approves proposal for setting up Bio CNG Plant
Bengaluru, 11 January 2024: Sanmit Infra Ltd – leading company engaged in construction of real estate projects, supply of petroleum products and biomedical waste management is planning to set up Bio CNG plant under Sustainable Alternative towards Affordable Transportation scheme (SATAT). The board of director at the meeting has approved the proposal and company expect to start work on the same soon. The project is part of multiple expansion in the business operations which company is planning over the next 2-3 years.
The Board feels that, Bio CNG project will support to national commitments in achieving climate change goals and reduction in import of natural gas and crude oil and saving a lot of foreign exchange. It can also stand as a buffer against crude oil/gas price fluctuations in the international market making the country self-sufficient.
Govt of India has launched SATAT scheme in the year 2018 with the objective of setting up Compressed Biogas production plants, and make it available for market its commercial use for automotive which will reduce the pollution level substantially. It aims to boost the entrepreneurship, rural economy and employment.
In the next 2-3 years company is planning multiple expansion including Bitumen expansion, diversify sales in the biomedical waste disinfection system across Indian and planning to initiate an eco-friendly, less wood, or green cremation system (GMS) as a pilot project for various crematoriums in India.
For Q2FY24, company reported net profit of Rs. 1.05 crore on total income of Rs. 18.91 crore and EBITDA of Rs. 1.97 crore. EBITDA margin in Q2FY24 increased to 10.4% from 4.3% in Q2FY23. For H1FY24 Company reported net profit of Rs. 1.57 crore on total income of Rs. 52.47 crore with EBITDA of Rs. 3.22 crore. Promoter Group holding as on September 2023 stands at 72.33%. During FY23, the company has split the shares with a face value of Rs.10 in the financial year 2023 into a face value of Rs.1. For FY23, company has reported sales of Rs. 140 crore with a Net Profit of Rs. 5 crore.
Established in 1965, Sanmit Infra Ltd is engaged in the disposal of biomedical waste, the supply of petroleum products, and the construction of real estate projects. Company diversified into real estate in 1994 and successfully executed projects in Mumbai and other cities of Maharashtra with upcoming developments in Mahim, Karjat and Navi Mumbai. In petroleum, the company supplies products like bitumen, lubricants, light diesel, base oil.
During the Covid pandemic, company ventured into dealing with microwave disinfection systems for hospital waste. Company has successfully piloted in various municipal and railway hospitals including Brihanmumbai Municipal Corporation (BMC), Pune Municipal Corporation (PMC) and is planning to expand biomedical waste disinfection system across India. Company’s microwave disinfection system utilizing dual technology, combining ultraviolet radiation to efficiently destroy bacteria and viruses present in biomedical waste.
In the Bitumen segment, company plans to further expand and intend to initiate bulk storage facilities for direct Bitumen imports from Gulf countries. Company aim to purchase a minimum one-acre plot near JNPT Port, where Bitumen importation occurs. This move will facilitate the establishment of a decanting unit, allowing it to purchase Bitumen in drums and convert it into bulk Bitumen.
The company is also planning to initiate an eco-friendly, less wood, or green cremation system (GMS) as a pilot project for various crematoriums in India. The GMS system upgrades the traditional open-air wood fire system, adhering to Hindu traditions. By replacing wood with “BAMBOO PELLETS,” which have high calorific value and generate minimal ash, pollution levels will significantly decrease. This eco-friendly approach saves trees, forests, and reduces carbon credits, making a positive impact on the environment and society.
11, Jan 2024
CarDekho Group Certified as a Great Place to Work Two Years Running
New Delhi, 11th January 2023: In the evolving landscape of the Indian workplace, CarDekho Group stands out for its dedication to creating a positive and inclusive work environment. CarDekho Group, India’s leading auto-tech and financial services solution provider, has been commended with the Great Place to Work certification for the second consecutive year. The group has excelled across various tenets, underscoring the dedication to creating a workplace of trust and empowerment.
Every year, the Great Place to Work® Assessment and Recognition Program assesses the workplace culture of 2000+ organizations in India. The survey highlights CarDekho Group’s highest scores in workplace pride, leadership capability, and commitment to care and fairness. Known for its employee-first culture, built through accelerated and diversified growth, participative decision-making, and empowerment, the Group has added another feat to strengthen its pillars of trust, fairness, and meritocracy.
“Mr. Manish Wadhwa, Chief People Officer of CarDekho Group, emphasized the significance of the GPTW certification, stating, “We are thrilled to be certified as a Great Place to Work for the second successive year. This achievement validates our constant efforts to build a positive and empowering work culture for our people. Our commitment to setting gold standards in human potential development is reflected in our comprehensive interventions, which continue to build employee success stories. As we gear up for the next phase of growth at CarDekho Group, our priority remains to sustain this momentum and empower our exceptional talent pool to reach new heights.”
