Category Archives: News

Shri Abhijeet Sinha: Sustainable Cities and Circular Economy Key as India Aims for dollar35 Trillion Economy

New Delhi, 7th August: The PHD Chamber of Commerce and Industry (PHDCCI) hosted the “PHDCCI Sustainable Cities Summit” under the theme “Viksit Bharat@2047 – Building Resilient Cities of Tomorrow” at PHD House, New Delhi. The summit witnessed insightful discussions and the launch of a significant knowledge report on the financing of sustainable cities.

In his address, Guest of Honour, Mr. Abhijeet Sinha, National Program Director, Ease of Doing Business; Project Director – National Highways for EVs; President – CPOs of India; and former CAG Member, shared India’s journey from a jittery economy in 2013 to becoming the world’s 5th largest economy in 2023. He underscored the importance of sustainability and resilience in this transformation. Mr. Sinha highlighted the global recognition of Mission LiFE, adopted by G20 countries in the Delhi declaration. He drew a cultural parallel, contrasting India’s Vedic tradition of respecting nature with the resource-centric views of Abrahamic cultures. He also stressed on building a future where economic progress harmonizes with environmental stewardship.

Dr. Ranjeet Mehta, CEO & Secretary General, PHDCCI in his welcome remarks emphasized the economy’s transition towards green initiatives. He highlighted the importance of human-centric sustainable cities, urging a collective effort beyond governmental dependency. Dr. Mehta introduced the government’s Mission LiFE (LiFEStyle for Environment), aimed at promoting sustainable living practices initiated by the Central Pollution Control Board (CPCB). He stressed the need for individual commitment to sustainability, starting from daily life practices such as conserving water and electricity. Dr. Mehta particularly urged the younger audience to lead by example in adopting sustainable habits.

Mr. Ashish Agarwal, Director, Resurgent India, in his theme remarks announced the launch of the knowledge report titled “Financing of Sustainable Cities” at the summit. He expressed gratitude to PHDCCI for highlighting this crucial topic. Mr. Agarwal discussed the active role of the Smart Cities Mission in India, noting the increasing urban population and the resulting need for sustainable solutions. He explained the concept of smart cities and the challenges in securing funding, revealing that private sector investment in sustainable city funding is currently at a mere 5%. Highlighting innovative funding mechanisms, he spoke about Green Bonds, Municipal Bonds, and Land Value Capture (LVC), citing examples from cities like Toronto, Cape Town, San Francisco, and Hyderabad.

Mr. Uddhav Poddar, Managing Director, Bhumika Group, addressed the impact of rapid urbanization on limited resources, advocating for the urgent adoption of sustainable practices. He pointed out India’s unique position due to its climate, population, and resources, which present a significant opportunity for leading the sustainable cities initiative. Mr. Poddar also mentioned various government projects operating under the Public-Private Partnership (PPP) model.

Dr. Jatinder Singh, Assistant Secretary General, PHDCCI, concluded the summit with a vote of thanks, acknowledging the contributions of all speakers and participants.

The Summit deliberated on the crucial aspects of sustainability in the technical panels themed,

( 1) Sustainable Urban Planning, Architecture, Real Estate & Infrastructure; (2) Sustainable Mobility and Transportation; (3) Navigating Sustainable Future through Green Energy; and (4) Sustainable Health Management

The summit was supported by Anant Raj Ltd. and Bhumika Group, with Resurgent India serving as the Knowledge Partner; and was also supported by PHDCCI annual sponsors, DLF Ltd; Jindal Steel & Power; KLJ Group; Multani Pharmaceuticals Ltd; Marble City; MMG Group; Radico Khaitan Ltd; Uflex Ltd; Vestige; Eazy ERP Technologies; JK Tyre & Industries Ltd; Sagar Group of Industries; Superior Industries Limited; Samsung India Electronics; Oswal Greentech; Apeejay Stya Group; Blossom Kochhar Beauty Products Pvt Ltd; DCM Shriram; R E Rogers; Trident Group; Ajit Industries Pvt Ltd; Bhagwati Plastic and Pipes Industries; Central Coalfields Ltd; DD Pharmaceutical Ltd.; Hindware Sanitary; Jindal Steel; Modern Automobiles; P S BEDI & Co.

Disciplined Growth and Operational Excellence Propel Vedanta’s Strong Q1FY25

By-Mr. Navin Agarwal, Executive Vice Chairman, Hindustan Zinc Ltd. and Non-Executive Director, Vedanta Ltd.

Disciplined growth. Operational excellence. Exploring opportunities along the value chain. And an unwavering commitment to sustainability.
A foundation based on these has resulted in a great quarter and has set us on a path to a transformative FY25. #Q1FY25 saw Vedanta Limited clock a #profit of Rs 5,065 crore, which is an increase of 54% YoY & 124% QoQ respectively, supported with an overall ~20% decline in cost of production alongside healthy margins.
I am also pleased to share that we are on track with our demerger into industry-leading, focused entities with sharper investment propositions.
As we look ahead into FY25, we foresee a remarkable growth across our entire portfolio, and remain committed to our near term $30bn annual revenue target.
Our strategy is clear, our foundation is solid, and our team is energized to capitalise on the tremendous growth prospects that lie before us. We thank you for your continued support and confidence in our journey. #TransformingForGood
@Vedanta_Group

Vikrant Massey supports inDrive’s campaign – “Ride to Donate” in collaboration with Cry India

August, 2024, New Delhi: In an effort to make a meaningful impact on communities in need, inDrive is proud to announce its partnership with Cry India to drive the Ride to Donate campaign. Through Ride to Donate, inDrive users expressed their support for this initiative simply by using the inDrive app for their transportation needs. The “Ride-to-Donate” project aimed to donate 10% fare of every fourth ride to Cry India, to support underprivileged kids through education, development programs & other children welfare initiatives.

Avik Karmakar, Senior Marketing Manager – South Asia, inDrive said “Through Ride To Donate” campaign we want to Challenge Injustice happening in the society where a lot of childhood dreams & opportunities either get broken or stolen which is the bare minimum need – The Right to Education. We donated INR 34,00,000 to help kids through CRY India. This could happen because over 1 Lakh users across Delhi NCR, Kolkata and Chandigarh participated for the cause.”

Vikrant Massey (inDrive’s Brand Ambassador) said, “The Ride to Donate campaign by inDrive is a testament to the company’s dedication to challenge injustice and create positive change for all the communities. I am really happy being a part of this initiative and proud of my association with such a people driven organisation.”

Pratip Mazumder, Country Manager India, inDrive said ”We believe that by mobilising our community through purpose-driven initiatives like Ride to Donate, we can amplify our impact and inspire others to join us in building a more equitable society. This partnership reflects our commitment to fight social injustice and empower our neglected communities to make a positive difference in their lives.”

Trina Chakrabarti, Regional Director, CRY (East), said “We are glad to collaborate with inDrive on the Ride to Donate initiative. Together, we can harness the collective power of individuals and technology to address pressing social challenges and create a brighter future for all.”

The Ride to Donate initiative was launched to serve the communities where users can simply participate by tapping the ‘Ride to Donate’ banner within the inDrive app. Every ride taken during the campaign contributes to making a difference in the lives of others.

A Festival for Every Month: Goa’s Celebration of Culture

Goa, a treasure trove of cultural diversity and tradition, this tiny state boasts a rich tapestry of festivals that reflect its unique history and multicultural fabric. Every month heralds a new festival that transforms the state into a vibrant canvas of cultural celebration. From the rhythmic beats of traditional dances to the enchanting melodies of folk music, these festivities are an immersive experience of Goa’s rich heritage.

Each event unfolds like a chapter in a living storybook, where the past and present converge to create a kaleidoscope of colors, sounds, and flavors. A calendar that features at least one major festival each month, Goa stands as a beacon of cultural celebration, showcasing its heritage with pride and enthusiasm.

First Quarter: A Vibrant Start to the Year
The year begins with the Three Kings Festival in January, commemorating the journey of the Magi to visit the infant Jesus. This festival features processions of three boys dressed as kings, riding on horseback, accompanied by music and dance. It culminates in a grand feast that brings the community together, attracting both locals and tourists who relish the cultural experience.

February is a month of revelry, marked by the famous Carnaval. The streets come alive with vibrant parades, floats, and masquerades, showcasing Goa’s exuberant spirit. Simultaneously, the Potekar Festival on the Divar island involves masked revelers who mimic the chaos before Lent. Shiv Jayanti, honoring the birth of Maratha king Chatrapati Shivaji Maharaj, is celebrated with rallies, processions, and historical reenactments, reflecting the Maratha influence on Goan culture. The Monte Music Festival, One of Goa’s most renowned music festivals, organized by Fundação Oriente and The Food and Cultural Festival also takes place in February, showcasing Goa’s rich legacy and unique customs.

March is a festival bonanza. Shigmo, a spring festival akin to Holi, features vibrant parades, folk performances, and traditional music, celebrating the spirit of renewal. Chorutsav, the festival of thieves showcases playful mock battles with sticks, while Veerbhadra is marked by rituals honoring a fierce form of Shiva. Homkund, Shenni Uzzo, Gade Utsav, Gulalutsav, Godhemodni and Shisharanni each add their distinct flavors, with fire-walking, ritualistic dances, and community feasts, showcasing Goa’s diverse cultural tapestry.

Second Quarter: Heritage and Tradition
April is a time for religious reflection and new beginnings. Easter is celebrated with solemn processions, midnight masses, and joyous feasts. Ram Navmi, marking the birth of Lord Rama, features prayers, bhajans, and festive gatherings. Gudi Padwa is observed with colorful gudi flags, traditional delicacies, and community events.

May celebrates Goa’s cultural and culinary heritage. The Goa Heritage Festival in Saligao showcases traditional crafts, folk performances, and local cuisine. The Spirit of Goa Festival highlights the state’s authentic drinks made from urrak and feni with vibrant music and dance. The Cashew Festival pays homage to Goa’s beloved nut, with tastings, workshops on feni (cashew liquor) production, and culinary competitions, drawing food enthusiasts and tourists alike.

In June, the Sao Joao Festival is celebrated with boat races, water games, and the traditional jumping into wells and streams, symbolizing the joy of St. John the Baptist. Sangodd, a festival of fishermen, features beautifully decorated boats parading on Goa’s rivers, accompanied by music, dance, and communal feasts, celebrating the symbiotic relationship between Goans and their waterways.

Third Quarter: Monsoon Magic and Community Spirit
July brings the unique Chikal Kalo, a mud festival in Marcel, where participants revel in playful games and rituals in muddy fields. This festival, believed to symbolize Lord Krishna playful enactments, is a testament to Goans’ playful spirit and connection to nature, drawing both participants and onlookers.

August is marked by the Bonderam Festival on Divar Island, featuring lively parades with colorful flags. The festival’s vibrant displays, music, and community spirit attract crowds from all over, making it a unique spectacle in Goa’s festival calendar. The month also hosts the Vasco Saptah Festival, during which the entire area is transformed as thousands flock to the old town of Vasco da Gama to pay their respects to Lord Damodar. Saptah, meaning ‘seven days,’ involves a week-long celebration where the Swatantra Path is turned into a bustling mela with various stalls. Devotees from near and far visit the temple and then partake in the vibrant fair, creating an atmosphere of devotion and festivity.

September celebrates Ganesh Chaturthi with grand processions and intricately crafted idols of Lord Ganesha adorning homes and temples. The festivities include prayers, cultural performances, and community feasts. Janmashtami, marking Lord Krishna’s birth, is celebrated with devotional songs, dramatic reenactments of Krishna’s life, and dahi handi (pot-breaking) competitions, reflecting the deep-rooted traditions in Goan culture.

Fourth Quarter: Festive Finale
October lights up with Diwali, the festival of lights, celebrated with diyas, fireworks, and sweets. The unique Narkasur effigy-burning ceremony, held on the eve of Diwali, symbolizes the triumph of good over evil, drawing crowds for its dramatic visual spectacle. Makar Utsav celebrates the harvest with traditional rituals, music, and dance, reflecting Goa’s agrarian heritage.

November’s highlight is Tripurari Purnima, in Vithalapur Sankhali, is celebrated with floating lamps and cultural events along Goa’s rivers. This festival marks the end of Diwali festivities and heralds the onset of winter, with illuminated boats and riverside gatherings creating a magical atmosphere.

The year concludes with the Feast of St. Francis Xavier, drawing pilgrims to Old Goa for solemn masses, processions, and cultural events. Christmas follows, transforming Goa into a wonderland of lights, music, and festive cheer. The celebrations blend religious devotion and joyful revelry, with midnight masses, carol singing, and elaborate feasts, making it a grand finale to the year.

The Department of Tourism has been instrumental in promoting these festivals as key cultural attractions, recognizing their potential to enhance tourism and foster cultural exchange. By organizing events, and providing infrastructure, the department plays a crucial role in preserving Goa’s cultural heritage. Initiatives such as the annual cultural calendar and strategic marketing campaigns have helped position Goa as a destination that celebrates diversity and tradition.

Goa’s progress as a state that celebrates cultural festivals is a testament to its rich heritage and vibrant community spirit. With government support and a commitment to inclusivity, the Goa Tourism Department has successfully turned its festivals into grand celebrations that attract visitors from around the world. As the state continues to embrace its multicultural identity, it remains a shining example of how tradition and modernity can coexist in harmony, creating a unique and captivating cultural experience for all.

Novotel Hyderabad Airport Hosts ‘Nizami Chowki’ Dinner

Novotel Hyderabad Airport (NHA), situated in GMR Aerocity, Hyderabad, is hosting the Nizami Chowki Dinner, an exclusive culinary event celebrating the rich flavours and traditions of the Asafiya dynasty on all Saturdays between August 3rd to August 31st, 2024, at the Food Exchange. Guests are invited to indulge in a memorable dining experience that beautifully blends history and gastronomy.

The Dinner presents an array of exquisite culinary offerings influenced by the grandeur of the Asafiya dynasty. Guests can enjoy fragrant biryanis, succulent kebabs, savoury khageena, and various Nawabi specialities. Additionally, the menu features an assortment of traditional breads and decadent desserts, all delectably prepared to deliver a genuine experience of royal heritage.

The ambience has been thoughtfully designed to reflect the richness of the Asafiya epoch. The luxurious ambience enhances the dining experience, making each meal not only a feast for the palate but also a visual and sensory delight. The setting is thoughtfully curated to create a royal elegance that complements the rich culinary offerings.

“We are thrilled to bring the Nizami Chowki Dinner to our valued guests here in the Food Exchange every Saturday. This event is a tribute to the rich cultural and culinary legacy of the Asafiya era, and we are proud to offer an experience that blends history with the opulent dining of the Nawabs” said Mr Sukhbir Singh, General Manager of Novotel Hyderabad Airport.

Adding to this Ammana Raju, Executive Chef, Novotel Hyderabad Airport, ” During the Asafiya period, Nawabi cuisine was known for its rich flavours, exotic spices, and authentic recipes. The menu offers a wide array of dishes, from kebabs to biryanis, which our team has meticulously crafted to ensure a veritable representation of Nawabi cuisine. We look forward to delighting our guests with dishes that honour the exquisite flavours and traditions of that era.”

Suzuki-backed Next Bharat Ventures Signs Strategic MoU with 3one4 Capital and Antler India to Empower Early-Stage Startups

Mumbai, 07th August 2024: Next Bharat Ventures, a subsidiary of Suzuki Motor Corp Japan, dedicated to supporting early-stage impact-based startups in India, signed Memorandums of Understanding (MoUs) with renowned venture capital funds 3one4 Capital and Antler India, which invest in early-stage startups both in India and internationally.

Siddarth Pai, Founding Partner at 3one4 Capital, alongside Vipul Nath Jindal, Managing Director and CEO of Next Bharat Ventures, signed the MoU. In parallel, Lakshmikant PB, Director – Finance at Antler India, also signed an MoU with Vipul Nath Jindal. Next Bharat will closely work with 3one4 Capital and Antler India to provide strategic guidance, funding opportunities, and extensive networks to early-stage startups in both the mainstream business and social arenas through a cohort-based approach.

Vipul Nath Jindal, Managing Director and CEO of Next Bharat Ventures, commented on the signing of the MoUs, “At Next Bharat, we believe in the transformative power of socially driven entrepreneurship to create a positive impact on the informal and rural economies of the country. Forging strategic associations with Antler India and 3one4 Capital is a conscious move towards nurturing and empowering the early-stage startup ecosystem. We look forward to a successful collaboration that will pave the way for a new generation of socially conscious entrepreneurs in India.”

Siddarth Pai, Founding Partner at 3one4 Capital, added, “We look forward to partnering with Next Bharat Ventures to accelerate the impact entrepreneurship category in India. At 3one4 Capital, we specialize in leveraging our extensive network and data-driven insights to identify and nurture high-potential startups from the early stage. By combining our strategic expertise in early-stage investments with Next Bharat’s focus on socially impactful enterprises, we aim to provide comprehensive support to further the mission of entrepreneurship and value creation in India.”

Rajiv Srivatsa, Partner & Investor at Antler India, stated on the collaboration, “Our association with Next Bharat Ventures is a step towards amplifying our shared vision of driving impactful change in the world through entrepreneurial ventures. We have a tailored approach to nurturing startups through our high selectivity and Antler Residency Platform. We hope the global expertise of Antler in cohort-based investments and Next Bharat’s vision to create social impact in India 2 and India 3 can together help scale solutions that will make a significant difference in India’s current entrepreneurship landscape”

Stylecast 8.0 Set New Trends with MADAME, CAMLA Barcelona, and MSecret

Bengaluru, 7th August, 2024: Stylecast 8.0, the Spring-Summer’25 Collection B2B Preview by renowned fashion brands MADAME, CAMLA Barcelona, and MSecret, made a grand comeback on July 30th.

Like its previous edition, the roadshow drew significant appreciation from the industry. It’s a preview of the brands’ 2025 summer collections. Conceptualized and hosted by Jain Amar, the parent company of these brands, Stylecast 8.0 showcased the collections and offered pre-order options for distributors and partners.

Stylecast 8.0 was held at Grand Hyatt, Gurugram, from July 30 to August 01 and welcomed guests from across the country, including franchise partners, LFR & SIS partners, and more.

Graced by top fashion experts and industry leaders, the exhibition featured vibrant and unique range of clothing, embodying the brand’s philosophies and distinctive designs. The Spring Summer Collection 2025 is characterized by signature styles from each brand which offered a variety of bold, assertive, and contemporary looks to suit every taste.

“The roadshow allows our partners to experience firsthand, our next year’s summer offerings. Stylecast 8.0 was a thrilling event and we’re delighted to see the great response,” said Mr. Akhil Jain, Executive Director of the Jain Amar.

Jain Amar is one of India’s leading fast fashion conglomerates with a portfolio of brands, Madame, Camla Barcelona, MSecret. MADAME, a premium womens’ westernwear brand; CAMLA Barcelona is known for providing premium fashion for both men and women, and MSecret, further diversifies the offerings with comfortwear for women.

IIM Visakhapatnam & TimesPro Launch CRISP Case Conference on Responsible Innovation and Sustainability

National, 7th August 2024: Indian Institute of Management (IIM) Visakhapatnam and TimesPro’s initiative – ET Cases, signed a Memorandum of Understanding (MoU) to collaborate on the Case Conference on Responsible Innovations & Sustainability Practices (CRISP). The joint initiative aims to advance responsible management education and sustainable practices aligned with global standards and Sustainable Development Goals (SDGs).

The virtual signing ceremony was attended by key figures including Prof. M. Chandrasekhar, Director, IIM Visakhapatnam, Anish Srikrishna, CEO, TimesPro, Dr. Amit Chakrabarti, Head – Centre for Responsible Management Education, IIM Visakhapatnam and Sunil Sood, Chief Growth and Partnership Officer, TimesPro. CRISP is scheduled for December 13-14 and seeks to bring together academicians, industry leaders, policymakers and students for discussions on sustainable practices, innovations and challenges. The conference will focus on two important aspects, i.e., Innovation and Sustainability, and will feature six thematic tracks aligned with the United Nations’ Sustainable Development Goals (SDGs).

On the occasion, Prof. M. Chandrasekhar, Director, IIM Visakhapatnam said, “We take immense pride in collaborating with TimesPro to disseminate high-quality education that is both accessible and affordable. The Case Conference on Responsible Innovations & Sustainability Practices enhances our joint efforts in knowledge generation, offering a platform for showcasing sustainability innovations. This initiative provides a splendid platform for participants to showcase exemplary innovations in sustainability. At IIM Visakhapatnam, we prioritise environmental and social contributions alongside economic value This conference, embedding sustainability principles across our programmes, will significantly influence management education and support a broad spectrum of industry and academia stakeholders. These case studies will form a remarkable repository, marking a pioneering endeavour in this domain.”

Echoing Prof Chandrasekhar, Anish Srikrishna, CEO, TimesPro said, “We are delighted to collaborate with IIM Visakhapatnam in advancing responsible management education through the Case Conference on Responsible Innovations & Sustainability Practices. Institutions must adopt a holistic approach to sustainability for lasting impact. As sustainability has become a board-level priority, this is an opportune moment to develop essential reference materials for educational purposes for future generations. At TimesPro, we focus on future-centric sustainability and our team at ET Cases is diligently constructing a repository of pivotal learning tools. This initiative, which seamlessly integrates the sustainability agenda through CRISP is truly commendable.”

The CRISP conference will address critical global challenges by focusing on sustainability and responsible innovations. It will feature six major thematic tracks aligned with the United Nations’ Sustainable Development Goals (SDGs): Sustainable Business Models and Practices, Climate Action and Environmental Stewardship, Social Innovation and Inclusive Development, Health, Well-being, and Safety, Urbanisation and Smart Cities, and Governance, Policy, and Partnerships. The conference will include keynote addresses from eminent speakers from academia and industry, panel discussions, case study presentations, networking sessions, and poster sessions.

Faculty members from Central or State Government institutions, as well as those from institutions ranked in the top 50 by NIRF, are eligible to submit cases at the conference. Additionally, PhD scholars, MBA students, working professionals, NGO representatives, and industry members are welcome to submit cases, provided they have at least one faculty member as a co-author.

DBS Bank India unveils ‘DBS Golden Circle’, an exclusive priority banking program for senior citizens

Chandigarh, August 7, 2024: DBS Bank India has announced the launch of ‘DBS Golden Circle’, a comprehensive priority banking program meticulously designed to cater to the unique needs of senior citizens. This program offers a suite of exclusive benefits and services, making banking simpler and more rewarding for resident Indian citizens aged 60 years and above.

This launch also marks the 30th anniversary of DBS in India, a milestone that underscores the bank’s commitment to the local market. DBS Bank India continues to leverage its extensive physical network and digital capabilities to provide solutions that meet the evolving needs of its customers, fostering trust and building lasting relationships.

The India Ageing Report 2023[iv] by the United Nations Population Fund highlights income insecurity as a significant vulnerability in old age. Navigating savings effectively during this stage of life is made more complex by increasing living costs and the challenge of accessing funds without compromising investments.

‘DBS Golden Circle’ addresses these concerns, and one of its key features is the attractive interest rate[v] offered on savings accounts and deposits. Senior citizens can earn an interest rate of up to 7% per annum on savings account balances above INR 4 Lakhs and up to INR 5 Lakhs. Additionally, they can benefit from an enhanced interest rate of 0.50% per annum on fixed deposits with a tenure ranging from 376 days to 540 days. These competitive interest rates enable senior citizens to effectively grow their savings and achieve greater financial stability.

Prashant Joshi, Managing Director and Head of Consumer Banking Group, DBS Bank India, said, “DBS Golden Circle is designed to make banking easier and more convenient for senior citizens, with a strong focus on trust, safety, and convenience. We empower our customers to enjoy their golden years by delivering a banking experience that is secure, reliable, and tailored to their unique needs. This aligns seamlessly with our brand promise of ‘Live More, Bank Less’, as we combine the best of both worlds—tech-driven, tailored service complemented by a personal touch—to help senior citizens navigate banking confidently.”

Security is a key concern for senior citizens, and the ‘DBS Golden Circle’ program addresses this with cyber insurance coverage up to INR 1,00,000[vi]. The program recognises the importance of flexibility and accessibility in financial planning. Senior citizens can choose from flexible interest payout options for Fixed Deposits, including monthly, quarterly, or cumulative payouts. Moreover, fixed deposits with a tenure of over one year do not incur any penalties for premature withdrawals, ensuring that senior citizens have access to their funds in case of any emergencies.

Other benefits of ‘DBS Golden Circle’ include:

· Special overdraft rates against FDs and Loans on Deposit.

· Zero transaction fees[vii] for NEFT, RTGS, duplicate statements, and unlimited free domestic ATM transactions.

· Lifetime free debit cards.

· Discount on locker rentals, providing a safe and affordable option for storing valuable items.

· Selection of products from leading life insurance companies and ecosystem partners[viii], including thoughtfully curated health and wellness benefits, discounts on healthcare services, pharmacy discounts, hospicash benefits, and comprehensive annual health check-ups.

DBS has been named the ‘Safest Bank in Asia’ by Global Finance for 15 consecutive years[ix] and brings strong global expertise matched with a deep understanding of India. Through its premium banking and wealth management platform, Treasures, DBS Bank India provides a range of signature lifestyle privileges and exclusive offers. Customers can access specialised wealth solutions tailored to their short-term needs and long-term goals, aligned with their risk appetite. They can choose from insurance solutions covering health, business, travel, and life. Additionally, DBS Treasures customers receive preferential remittance rates and solutions, allowing seamless money transfers abroad.

DBS Bank India’s digiPortfolio combines human expertise and technology to help customers select ready-made portfolios of mutual funds tailored to their age, income, and risk appetite, including top-ranked mutual funds supported by research inputs from CRISIL. In 2023, the bank launched the DBS Vantage card, an invite-only, super premium credit card that offers a range of privileges, including complimentary memberships to luxurious hotels, a bespoke rewards program, and global travel benefits.

As technology rapidly advances and becomes an integral part of our daily lives, DBS has significantly increased its efforts to educate customers, including senior citizens, on navigating the digital banking landscape. This involves providing guidance on identifying potential scams and implementing robust security measures to protect their personal and financial information.

India’s Data Privacy & Sovereignty Imperative: Industry Leaders Chart a Course for AI Innovation and Digital Trust

Mumbai, August 7, 2024: As India emerges as a global AI frontrunner, the intricate interplay between data innovation, data sovereignty and robust privacy safeguards has become a paramount concern, especially given the rise of AI. To address this critical challenge, Data Dynamics and the Consulate General of the United States in Mumbai convened a high-level roundtable on “The Future of Data Privacy and Security in the Era of AI”.

 Hosted by Consul General Mike Hankey, the event brought together a distinguished gathering of government officials and industry leaders. Sujata Saunik, Home Secretary of Maharashtra, and Yashasvi Yadav, Special Inspector General of Police, Maharashtra Cyber, lent their expertise to the discussions.

 Key decision-makers from India’s corporate landscape, including top-tier CISOs, CIOs, and CTOs from BSE, LIC, HSBC, Citi Bank, HDFC Life Insurance, CAMS, ICICI Lombard, Glenmark Pharmaceuticals, Apollo Hospitals, Alkem Laboratories, Kenvue, L&T Technology Services, and Hitachi Vantara, participated for in-depth discussions on data privacy for AI, data sovereignty, consumer trust, the evolving regulatory landscape, and the practical implications for businesses.

 U.S. Consul General Mike Hankey delivered the keynote address stating, “As AI technology rapidly advances, safeguarding data privacy and security becomes increasingly crucial. The roundtable highlighted the need for robust frameworks that foster innovation while ensuring the ethical development and deployment of AI solutions. Through international cooperation and adherence to ethical standards, we can empower societies and economies to fully leverage AI’s potential while protecting individual rights and freedoms.”

 “Ensuring Digital Trust is foundational to our nation’s digital aspirations. This is defined by a commitment to data privacy, ethical AI, data sovereignty and security, while complying with social and environmental regulations. It is imperative that we build a data ecosystem that is not just secure but also equitable and inclusive. This requires a collaborative effort between the government, industry, and civil society to establish India as a global leader in data governance and innovation while safeguarding the interests of its citizens. India has the potential to be a global data powerhouse, but realizing this potential requires a delicate balance between fostering innovation and protecting individual privacy rights,” said Piyush Mehta, CEO, Data Dynamics.

 The roundtable delved into the complexities of navigating India’s data landscape, where the potential to harness data for economic growth is immense. Based on an Ericsson Mobility Report, India is set to become the world’s largest mobile data consumer by 2028, surpassing even developed nations. With average monthly data consumption projected to reach 62GB per user, India’s appetite for data will outpace those of the US, Western Europe, South Korea, and China. This surge is fuelled by exceptionally low data costs, rapid 5G expansion, and increasing smartphone affordability.

 Additionally, a Nasscom-BCG report has stated that India’s AI market is expected to touch 17 billion USD by 2027. This creates an urgency for enterprises to strike a balance between data innovation, usage, accessibility and privacy, while ensuring regulatory adherence and digital trust. However, a key challenge lies in the management of this very data—given that 80% of enterprise data today is unstructured (Gartner)—which will continue to grow due to the advent of AI.
The roundtable discussion called for a comprehensive national data strategy that addresses data privacy, security, and sovereignty. While emphasizing the need for industry-wide adoption of best practices and standards for data management, critical topics discussed included:

•  Navigating the Complexities of Data Privacy in the world of AI
• The rapid advancement of AI has introduced new challenges and opportunities for data privacy. The roundtable delved into the implications of AI-driven data processing and emphasized the importance of responsible AI development and deployment, underscored by robust data governance frameworks.
• Emphasising Consent Management with the Digital Personal Data Protection (DPDP) Act
  The Digital Personal Data Protection (DPDP) Act was a central theme of the discussions. Industry leaders explored the potential impact of the legislation on businesses, consumers, and the overall digital economy. While acknowledging the importance of data protection, participants also highlighted the need for a regulatory environment that fosters innovation.
• Building a Trust-Based Digital Ecosystem
  To ensure the successful implementation of data protection measures, the roundtable emphasized the importance of collaboration between the government, industry, and academia. A key focus was on the role of cybersecurity in protecting data from emerging threats such as ransomware and supply chain attacks.
• Data Sovereignty and Localization
  The roundtable underscored the critical role of data sovereignty in India’s digital future. Participants emphasized the need for a strategic approach to data localization that balances national security with fostering a vibrant data economy, one that adheres to the DPDP Act’s guidelines. By establishing clear and predictable data governance policies, India can position itself as a global leader in data management while safeguarding its digital autonomy.

The roundtable closed with a renewed resolve to foster open dialogue and collaboration, laying the groundwork for a robust data ecosystem in India. With a shared commitment to responsible data management and privacy, India is poised to emerge as a global leader in the AI era.
Data Dynamics remains dedicated to empowering organizations with data-driven insights while upholding the highest standards of privacy and security. With a proven track record of serving over 300 enterprises—including 28 Fortune 100 companies—for the past 12 years, Data Dynamics has established itself as a trusted partner in driving data democratization and digital trust.