Category Archives: News

At FMC International Conference, Pasha Patel Pushes for Bamboo as a Sustainable Alternative to Fossil Fuels

New Delhi, December 17, 2024: The Foundation for MSME Clusters (FMC) successfully concluded its international conference on “Just Transition to Net Zero – Role of Bamboo in the SAARC Region” at Deventure Sarovar Portico, Kapas Hera, New Delhi. The event marked a significant step toward promoting bamboo as a sustainable development tool across SAARC countries, bringing together policymakers, industry leaders, financial institutions, and civil society representatives to foster meaningful dialogue.

The inaugural session was graced by Shri Pasha Patel, Chairman, Price Commission, Maharashtra, as the Chief Guest. Other distinguished dignitaries included Shri Ajay Shankar, Chairman, and Foundation for MSME Clusters and Former Secretary to the Government of India, and Ms. Rinzi Pem, Assistant Director, Social Window, SAARC Development Fund. Their presence and insights enriched the event, setting the tone for impactful discussions.

Shri Pasha Patel, Chairman, State Agricultural Price Commission, Maharashtra, and Chairman, Executive Committee, Chief Minister’s Task Force for Environment and Sustainable Development said “shared insights on the potential of bamboo as a sustainable resource Citing a study, he said all government thermal power generation units in the country release 5,90,000 MT of carbon per day into the atmosphere, adding bamboo can be an alternative to coal as a fuel for power generation.”

Shri Ajay Shankar, Chairman, Foundation for MSME Clusters, and Former Secretary to the Government of India, said for shared his long-term vision on the integration of bamboo into MSME and development ecosystems. Developed countries have limited scope for change as they have already followed a carbon-intensive path. In contrast, South Asian developing countries have the opportunity to adopt a more sustainable approach.

Ms. Rinzi Pem, Assistant Director, Social Window, SAARC Development Fund, emphasized on developing the collaborative opportunities within the SAARC countries for leveraging bamboo to achieve net-zero targets.

The conference was part of the project “Promoting Integrated Bamboo-Based Enterprise Development among SAARC Countries,” supported by the SAARC Development Fund since 2017. The project, implemented across Afghanistan, Bangladesh, Bhutan, India, and Nepal, engages partners such as Women’s Economic Empowerment Rural Development Program (Afghanistan), BRIF (Bangladesh), Tarayana (Bhutan), FMC (India), and ABARI (Nepal). During the event, project partners from Bhutan, Nepal, and Bangladesh presented case studies showcasing challenges, achievements, and innovations, offering valuable insights for advancing bamboo enterprise development.

The conference featured three engaging panel discussions. The first, moderated by senior journalist Naghma Sahar, focused on bamboo industry integration, with insights from Sanjeev Karpe (Director, KONBAC), Anupam Badola (Deputy CSO, Dalmia Cement), Rajeev Pratap Singh (AGM, Rashmi Group), and Sharda Pratap Singh (Hindalco). The second, led by Mehraj Dube, addressed bamboo enterprise financing, featuring experts like Dr. R.K. Singh (SIDBI), Ritesh Sinha (HDFC CSR), Sanjay Sharma (SPMN), and Dr. Ajithsen Selvadhas. The third, moderated by Krunal Negandhi (Jans Bamboo Products), discussed civil society’s role, with contributions from Dr. Prabhat Kumar (National Bamboo Mission), Dr. Ajay Thakur (FRI), Neju George (Industries CEO), and Anuj Srivastava (HCL Foundation).

The conference served as a collaborative platform for CSR leaders, researchers, buyers, and artisans, aiming to create a regional strategy for achieving net zero goals through bamboo-based innovations. It underscored the urgency of cross-sectoral partnerships to unlock the full potential of bamboo for sustainable development in the SAARC region.

Creative Minds 2024: Arena Animation Honors VFX Talent in Kolkata

Mumbai, December 17, 2024: Arena Animation, one of India’s leading animation institute in the country and a training brand of Aptech Limited, recently concluded its Kolkata edition of their multi-city tour for ‘Creative Minds 2024’ — an opportunity for over 15,000 students across India and 600 students who attended the event to showcase their talent and learn from the industry experts directly; out of which over 100 students were awarded in different categories. This annual event celebrates and recognizes outstanding student work while providing valuable insights into live projects.

Creative Minds is Arena’s flagship student competition, where creative minds connect with industry expertise! Through guidance from seasoned veterans and leading industry speakers, the forum explores the vast potential and growth of the AVGC sector, drawing on their invaluable experience. Under the guidance and mentorship of their faculty, students conceptualize and produce films that are evaluated by experienced jury members. These experts provide valuable feedback, helping students refine their work to make it more industry relevant. The competition is fiercely contested, with work carefully evaluated for its vision, implementation, and forward-thinking usage of modern-day tools. The certification signifies merit and thorough assessment by industry experts, making them an essential asset for aspiring professionals who are about the enter the professional realm.

This platform offers students the opportunity to enhance their skills, improve efficiency, and develop the ability to collaborate with diverse teams. The key objective of the competition is to prepare students for industry demands by teaching them how to showcase their work effectively within tight timelines.

The event in Kolkata was honored by the presence of esteemed industry veterans from some of India’s leading studios, including Mr. Rajeev Rastogi, Founder & Chief Business Officer, White Frames Studio and Mr. Krishna Babu (Unni), CG Supervisor, Zebu Animation Studios. These stalwarts conducted interactive, industry-relevant sessions on the use of Visual Effects (VFX) in films, explained the animation production overview and pipeline with the goal to make Arena Animation’s students industry-ready through Creative Minds 2024.

Congratulating the winners, Mr. Sandip Weling, Chief Business Officer (Global Retail Business), Aptech Limited said, “Creative Minds is our flagship industry-academia event offering valuable and one of its kind industry exposures to Arena Animation students. This year’s multi-city tour has successfully completed its Kolkata edition, which showcased and celebrated the remarkable talent and creativity of our students in the region. We continue to grow this platform annually, offering more students the chance to showcase their skills. Congratulations to all participants in Kolkata, and to the winners of Creative Minds 2024!”

Arena Animation believes that the future of the Indian animation and VFX industry lies in equipping the youth with the right skills and nurturing their creativity to prepare them for industry demands. Initiatives like Creative Minds by Arena Animation are dedicated to building a vibrant community of skilled animators. This event serves as an excellent platform for aspiring professionals, offering valuable insights into the functioning of the industry.

The next and final stop for the Creative Minds this year event tour will be in Indore on the 19th December, 2024, showcasing remarkable talent from the city. The Creative Minds tour will be continued with New Delhi & Bengaluru in January 2025.

DriveX Accelerates Growth with 30+ Store Launches in Just 12 Months, Revolutionizing Refurbished Two-Wheelers

India, 17th December, 2024 — DriveX, India’s first and largest digital-first auto tech platform for refurbished two-wheelers, is thrilled to announce the launch of its latest store in Bangalore- Varthur. This milestone marks a significant step in DriveX’s remarkable journey of growth, with the Varthur store being one of the 30 new touchpoints established in 2024 alone. These remarkable expansions highlight DriveX’s commitment to delivering unparalleled quality, efficiency, and customer satisfaction across its rapidly expanding network.

With an impressive growth trajectory and a surge of new franchise openings, DriveX has captured the attention of both the automotive industry and entrepreneurs nationwide. The franchise-owned and franchise-operated model has allowed the dealer partners to leverage DriveX’s proven business framework while maintaining ownership and operational control, resulting in a seamless blend of entrepreneurial spirit and standardized excellence.

Key Milestones:

● Over 30 new stores launched in the last 12 months, surpassing industry benchmarks for growth.

● A significant increase in franchise applications, reflecting strong confidence in DriveX’s business model.

● Consistent 95% customer satisfaction ratings across all newly launched locations.

Over the last 30 days, DriveX was triumphant in launching six new stores across Chennai, Hosur and Bangalore. Within Bangalore, DriveX has twelve successfully operating stores in different locations.

“Our business model empowers franchisees to tap into DriveX’s visionary service solutions while ensuring they retain full operational oversight. This approach has been pivotal to our rapid growth and success,” said Narain Karthiyen, the Founder of DriveX and India’s first formula one driver “We are committed to supporting our partners and continuing to set new standards in the automotive service industry.” Narain Karthikeyan, as the chief guest, inaugurated the DriveX store launch in Varthur, which is a unit of Highlander Ventures LLP, on 15th December 2024.

DriveX is built upon the foundation of providing customers with top-quality two-wheelers that are as good as new. This paved the path for factory-refurbished two-wheelers with a 1 one-year warranty, after-sales support, finance support, document transfer and more benefits. DriveX has both a digital and physical presence, which makes it easy for customers from all walks of life to purchase their dream bikes. DriveX provides customers with a whole branded experience, reforming the conventional convictions of the industry.

The remarkable pace of DriveX’s network expansion is fueled by its focus on technology-aided top-quality refurbishment of two-wheelers, transparent pricing policies, and streamlined processes that redefine convenience for vehicle owners. The company’s ability to replicate its success across diverse regions showcases the scalability and strength of its business models, which begin with sales or extend further to sales, procurement and service.

Ludhiana Roadshow by Sushma Group Concludes, Marking a Resounding Success

Sushma Group, Punjab’s leading real estate developer, concluded its highly anticipated investment roadshow in Ludhiana with resounding success. Held at the Radisson Hotel, the event witnessed an overwhelming turnout of investors, brokers, and buyers, reaffirming Ludhiana’s significance as a thriving hub for real estate investments.

The full-day event showcased Sushma Group’s diverse portfolio, including projects across Ludhiana, Chandigarh Tricity, and Kasauli. Attendees were given exclusive insights into upcoming developments, strategic investment opportunities, and special booking benefits that were available only during the roadshow.

Commenting on the success of the event, Mr. Prateek Mittal of Sushma Group said, “We are thrilled by the enthusiastic response from Ludhiana’s investment community. This roadshow has allowed us to connect with a wide network of investors and brokers who recognize the potential of Punjab’s real estate sector. We are committed to delivering value-driven opportunities that align with their expectations.”

The event’s dedicated investor meet proved to be a highlight, fostering engaging discussions and productive interactions between the Sushma Group team and prospective investors. Several attendees expressed keen interest in the group’s residential, commercial, and hospitality projects, with many finalizing bookings on the spot.

The Ludhiana roadshow not only cemented Sushma Group’s reputation as a leader in the Punjab real estate market but also underscored the growing demand for quality real estate investments in the region.

Celebrate Your D-Day in Style with Courtyard by Marriott Pune Chakan’s Tailored Wedding Experiences

Pune, December 17– Weddings are extraordinary milestones, uniting families, celebrating love, and honoring cherished traditions. The choice of venue plays a pivotal role in crafting these moments, creating the perfect backdrop for memories that last a lifetime. Whether it’s an intimate gathering or a grand celebration, the right setting ensures joy, comfort, and togetherness.

 For couples planning their weddings between December 1, 2024, and January 15, 2025, Courtyard by Marriott Pune Chakan presents a thoughtful blend of tradition and modern luxury with ten unique inclusions to make every moment unforgettable. The hotel extends its signature hospitality by offering two complimentary suites for the bride’s and groom’s families for two nights, ensuring unmatched comfort throughout the celebrations. The couple is treated to a dedicated suite on their wedding night, complete with sparkling wine and a special chocolate amenity, providing an indulgent retreat after the festivities.

 To further commemorate the special union, the hotel offers a complimentary stay during the couple’s anniversary month, including breakfast on a weekend, evoking nostalgia and celebrating the journey together (blackout dates apply). Pre-wedding arrangements are thoughtfully catered to with a complimentary wash-and-change room for pre-wedding shoots on weekends and a chauffeur-driven car service for two days, adding ease and convenience to the preparations. Guests are welcomed warmly with the hotel’s signature “Shaadi Ka Ladoo” in their rooms, a sweet blend of tradition and hospitality.

 Culinary experiences at Courtyard by Marriott Pune Chakan add another layer of delight. A chef-crafted two-layer wedding cake becomes a centerpiece of the celebrations, while a traditional Sajjan Goth for 15 guests during the wedding lunch honors heritage and brings families together. Guests can also enjoy a 15% discount on food and beverages, ensuring each dining experience is as memorable as the occasion.

 For moments of relaxation amidst the festivities, the hotel’s Nilaya Spa offers a 15% discount on its services, providing an indulgent escape for the couple and their families. Adding to the seamless experience, a dedicated team ensures that every detail of the celebration is executed flawlessly, allowing families and couples to focus on what truly matters—cherishing time together.

 These thoughtful inclusions reflect the hotel’s dedication to creating a stress-free and memorable celebration, allowing families and couples to focus on what matters most cherishing their time together. Courtyard by Marriott Pune Chakan provides a balance of luxury and care, making every moment of the wedding experience truly unforgettable.

Grins & Giggles at Gillco International School’s Foundational Stage Sports Day 2024, Brimming with Enthusiasm

Gillco International School came alive with energy and excitement as it celebrated its Foundational Stage Sports Day 2024, themed “Grins & Giggles”. The event was a lively and memorable celebration of sports, creativity, and camaraderie, designed to highlight the vitality and enthusiasm of the school’s youngest learners.

The day was graced by the distinguished presence of Mr. Vivek Thakur, an International Judo Coach, who served as the Guest of Honour. Sharing inspiring words, Mr. Vivek Thakur encouraged students to embrace challenges, nurture resilience, and uphold the values of true sportsmanship. His presence added an extra spark to the event, motivating participants and spectators alike.

A delightful array of performances and activities showcased the budding talents of the young students. Highlights included impressive Taekwondo demonstrations, rhythmic Hula Hoop displays, and serene Yoga presentations, each reflecting the students’ dedication and enthusiasm. These performances not only entertained but also emphasized the importance of fitness and discipline from an early age.

Dr. Kritika Kaushal, Principal of Gillco International School, underscored the profound impact of sports on holistic development. She emphasized how physical activity fosters mental strength, confidence, teamwork, and leadership skills, shaping children into well-rounded individuals. “Sports teach us lessons that go beyond the field—resilience, collaboration, and the spirit of healthy competition. These are qualities we aim to instill in every student,” she remarked.

The event concluded with a vibrant prize distribution ceremony, where the young achievers were celebrated for their dedication, skill, and sportsmanship. The joyful applause from parents, teachers, and peers created an electrifying atmosphere, making it a day to cherish for the Gillco community.

Manipal College of Health Professions Elevated to Constituent Unit of Manipal Academy, Now an ‘Institution of Eminence

Manipal, 17 December 2024: Allied Health Professions are a distinct group of health professionals who apply their expertise to prevent disease transmission, diagnose, treat and rehabilitate people of all ages and all specialties. The Manipal College of Health Profeassion is the one of the prominent institutes under the umbrella of the Manipal Academy of Higher Education which is conferred with “Institute of Eminence” by MOE, Govt. of India. The MCHP offers program under all four campuses of the MAHE. MCHP, celebrating the Silver Jubilee for the year 2024-2025. Currently It is the first and largest institute in India and Asia exclusively dedicated to cater the need of higher education in allied health field having students from 22 country. The institute trains high calibre allied health professionals with a view to prevent, diagnose and treat a range of conditions and illnesses working within a multidisciplinary health team and to provide the best patient outcomes.

The courses offered at MCHP are specifically designed to prepare under graduates and Post graduate students for rewarding careers in the globally growing healthcare industry. Since its establishment in 1999, the growth of this institution has been phenomenal and it is now acclaimed as a center of excellence in allied health sciences in the nation, mainly because of its demand-driven health related programs, excellent infrastructure, clinical facilities with dedicated and qualified faculty.

The MCHP Silver Jubilee Alumni Reunion is officially inaugurated by Dr Sharath K Rao, Pro Vice Chancellor, Health Science and the founding President of the MAHE Alumni Association Regd, highlighted the importance of qualified and competent allied health professionals in the healthcare system and complimented the institution for the quality education, inter disciplinary research. Dr Cherian Varghese, Director, Prasanna School of Public Health, Dr Rohith Singh, Director, MAHE Alumni Relation appreciated the significant growth of the institution and the reputed alumni of the institution.

Dr G Arun Maiya Dean Manipal College of Health Professions, highlighted the genesis, significant expansion, growth of the institution in the last 25 years and highlighted that more than 70% of the MCHP alumni were placed across the globe in reputed institution. In the Silver jubilee alumni reunion more than 500 alumni participated from various part of the globe. The distinguished alumni achievers of the institutions were felicitated during the function.

Dr Shovan Saha, Chair, Institutional Alumni Relations MCHP, and Dr Venkataraj Aithal, Associate Dean provided the overview of the alumni activity. The significant Alumni Achievers of MCHP were felicitated during the function. Dr Sheela, proposed the vote of thanks.

Branded Supply Set to Surge with 253.16 Mn Sqft in Pipeline, Inventory Overhang Drops to 14-Month Low

Mumbai, 17th December 2024i: New housing supply in 2024 remained relatively tepid compared to peak-year 2023 due to elections-related approval delays in H1, and state elections in H2. However, there will be a spurt of new housing supply by listed developers in 2025.

ANAROCK’s data analysis of the top 11 listed developers (*) shows that at the beginning of FY 2025, they announced plans to launch 253.16 Mn sq. ft. of new supply across cities over the next few years. Interestingly, of this total planned supply, just 23% (approx. 57.15 Mn sq ft.) were launched in H1 FY 2025, indicating a strong new supply pipeline over the coming quarters.

Among the top 11 listed players, Bengaluru-based Prestige Group – with 75 Mn sq. ft – has the highest new supply planned over the next few years. Of this, they launched just 10.05 Mn sq. ft. (or 13%) in H1 FY2025 across geographies. In early September, the Group indicated an overall project pipeline of at least 60 Mn sq. ft.

Signature Global has the second-highest launch plan with approx. 29.3 Mn. sq. ft. over the next few years. In H1 FY2025, they launched approx. 9.5 Mn sq. ft. (32%) of their scheduled supply.

Dr. Prashant Thakur, Regional Director & Head – Research, ANAROCK Group, says “Various factors indicate that 2025 will see significant new supply added across cities, particularly by these listed developers. Amid high demand for their branded offerings, they have been aggressively tapping the capital markets via Qualified Institutional Placements (QIPs) for their expansion. Several of these players raised as much as INR 12,801 Cr via QIPs in 9M 2024. Much of these funds are earmarked for land acquisition and to launch residential projects. These players are more than adequately funded.”

“Also, the inventory overhang across the top 7 cities is at its lowest best – 14 months as of 9M 2024. This alone will prompt developers to meet the robust demand for their offerings with more supply across cities.”

Moreover, only 23% of the overall planned supply announced early in this financial year was launched in H1 FY2025, due to the general and state elections, which slowed down project approvals. With elections now over, the next few quarters will likely see multiple new launches by these developers.

Inventory Overhang in Top 7 Cities as of 9M 2024-end

ANAROCK data shows the inventory overhang across the top 7 cities down to 14 months by 9M 2024-end, from 17 months in the corresponding period of 2023. This is the lowest-best inventory overhang in the last decade. This low inventory overhang will also prompt developers to add more supply to the market.

“City-wise, Hyderabad has the highest inventory overhang of 19 months among the top 7 cities, while Bengaluru has the lowest at just 8 months,” says Dr. Thakur. “In the last two years, Bengaluru saw its unsold stock drop by 6 months while Hyderabad saw a dip of just two months. Hyderabad also saw considerable new supply infusions in the last two years.”

Artha Global Opportunities Fund Relocates from Mauritius to GIFT City, Pioneering in Distressed Debt Investment

Mumbai, 17th December 2024: Artha Global Opportunities Fund, a Mauritius headquartered and SEBI-registered fund investing in distressed assets and special situations in India has become the first Foreign Portfolio Investor (FPI) to move its domicile from Mauritius to GIFT City, Gandhinagar in response to PM Modi’s ambition to make GIFT city a world class international financial services centre (IFSC).

“Our Radiant Capital Global Opportunities Incorporated VCC Sub Fund 1, launched under the Variable Capital Company (VCC) structure in Mauritius in 2023, has become the first SEBI-registered Category I foreign portfolio investor specialising in distressed assets; to relocate to GIFT City,” said Sachin Sawrikar, Founder & Managing Partner, Artha Bharat Investment Managers IFSC LLP. “This relocation of the funds permanent establishment aligns with Prime Minister Modi’s vision to establish GIFT City as a global financial hub.”

As part of the transfer of domicile, Radiant Capital Global Opportunities VCC Sub Fund 1 will merge into a newly established, IFSC-registered entity named the Artha Global Opportunities Fund. This special situations/distressed debt fund, is awaiting lenders’ No Objection Certificates (NOCs) to finalize the transition. The fund, with a planned lifespan of 7 years, invests in Security Receipts (SRs) issued by Asset Reconstruction Companies (ARCs) in India. Artha Bharat carefully selects SRs representing non-performing loans that are backed by operational assets to ensure that the fund realises returns for investors within its fund life.

“Our Artha Global Opportunities Fund is on track to deliver over 5x returns on invested capital to unitholders, showcasing our ability to achieve exceptional results,” added Sawrikar.

The Fund is managed by Artha Bharat Investment Managers IFSC LLP, promoted by Sachin Sawrikar, a private equity industry veteran and former SBI Mutual Fund equity fund manager.

In order to give further heft to PM Modi’s vision for GIFT city, Artha Bharat also plans to make it’s IFSC operations, a base for its growth plans to launch 3 new funds. This will help grow its Assets Under Management (AUM) from INR 1,100 crore to $1 billion within the next three years. The funds will be marketed to Non-Resident Indians (NRIs) living overseas and also to Ultra High Net Worth Individuals (UHNIs) in India, seeking global diversification.

“As a pioneer in GIFT city, the new funds we plan to launch will further diversify our portfolio and meet the evolving needs of global investors.”

Strategic New Fund Launches in 2025

Building on its strong track record, Artha Bharat plans to introduce three innovative funds in 2025:

• Hedge Fund (US Retail Sector): This fund targets alpha generation of 3%-5% above market returns quarterly by taking long/short positions in the US retail sector.
• Global Arbitrage Fund: Designed for stable, low-risk US$ returns of 8%-10% annually by employing arbitrage strategies.
• Fixed Maturity Plan (FMP): Targeting 9%-10% annual returns in USD over a 3-4 year horizon. This fund is structured for predictable income.

Benefits of GIFT City Relocation

Artha Bharat believes that moving their permanent establishment from Mauritius to GIFT City will bring multiple benefits. According to Sawrikar, the regulator in GIFT City is highly approachable and business-friendly. “While the regulations initially followed a domestic model that involved micromanagement, they have evolved into a more conducive framework for an IFSC. This flexibility has made it easier for us to navigate the regulatory environment and focus on our growth,” he added.

Artha Bharat expects that having a nearshore presence in the Gandhinagar IFSC will help them attract a larger pool of talent in India for their operations as compared to what is available in a smaller nation such as Mauritius. “Unlike foreign portfolio investors (FPIs) based in other jurisdictions, we now have a physical presence in India with a dedicated team. This local presence helps us access a strong talent pool and provides valuable insights into the Indian market. We believe this will significantly enhance the fund’s performance going forward,” said Sawrikar.

A Delicious 2024 Finale: SGF India Announces Six New Locations

New Delhi, India – December 17th, 2024 – SGF India, a leading vegetarian dining brand, continues its remarkable growth trajectory with plans to launch new outlets in five prime locations before the end of 2024. The upcoming outlets will open in Shakti Nagar, Amritsar, Bhopal, Muzaffarnagar, and Gurgaon’s Conscient One, further cementing SGF’s presence across India.

This announcement follows the successful opening of SGF’s Sainik Vihar outlet, which has already become a favorite among food enthusiasts. Founded in 2012 by visionary entrepreneur Mr. Kewal Ashwani Ahuja, SGF has revolutionized vegetarian dining with its innovative soy-based chaaps, tandoori delights, and authentic North Indian cuisine.

“As we expand to these vibrant locations, our mission remains the same delivering a unique, nutritious, and flavor-packed dining experience. This milestone brings us closer to our vision of making vegetarian dining a celebrated lifestyle across India,” said Mr. Kewal Ashwani Ahuja, Founder & CEO of SGF India.

SGF’s expansion strategy is a testament to its commitment to providing high-quality, health-conscious cuisine in modern, welcoming spaces. With over 100 outlets already operating across India, SGF’s journey to 200 outlets by 2025 remains well on track. Each new location will feature SGF’s signature live tandoor counters, freshly prepared dishes, and a vibrant ambiance that incorporates educational graffiti showcasing the benefits of soy-based dining.

The upcoming outlets promise to bring SGF’s hallmark offerings of protein-rich soy chaaps, flavorful North Indian dishes, and refreshing summer coolers to new audiences. These openings align with SGF’s vision to redefine vegetarian dining while maintaining its core values of taste, nutrition, and affordability.