Pre-Budget Expectations Shobhit Singh, Managing Director & CEO, Stone Sapphire India Pvt Ltd

Mr. Shobhit Singh, Managing Director & CEO, Stone Sapphire India Pvt Ltd:

“As we look forward to the next Union Budget, we urge the government to focus on both sustainability and affordability for MSMEs, which are the future of India’s economy and sustainable growth. While the government has taken commendable steps in this direction, such as the PLI scheme for toys and the NAPT, much more needs to be done in terms of financial reforms to encourage MSMEs to become sustainable and innovative.

With India’s commitment to achieving net-zero emissions by 2070, MSMEs, especially in the toy and sports industries, need to be empowered to adopt green practices. This would mean increasing access to financial incentives and government-backed programs such as RAMP, TEQUP, and ZED certifications, which enable MSMEs to adopt green technologies and reduce their carbon footprint.

However, MSMEs still struggle to access timely and affordable credit with a mere 14% credit penetration compared to the global average. The government should simplify the loan application process and consider alternative financing options like government-backed P2P lending platforms and credit insurance schemes that will bridge this gap. A compliance framework simplified and tailored to the needs of MSMEs will also ease the regulatory burden on businesses, helping them focus on growth and sustainability.

Present-day consumers are very conscious about their environment and so MSMEs should take advantage of this and support the sustainability movement that is trending globally; thereby not only marketing themselves better but also securing some loyal customers as well as overseas partnerships. Long-term growth is only achievable through the government, which needs to offer the necessary financial support and policy measures that can enable MSMEs to succeed sustainably in the competitive international market.”

Dr. Ranoj Pegu Launches ‘Advantage Assam 2.0’ in Hyderabad

Hyderabad, January 24, 2025: The Government of Assam, in partnership with FICCI as the Industry Partner, hosted the ‘Advantage Assam 2.0’ Hyderabad Roadshow on January 23rd, 2025; at Hotel Taj Krishna. The Advantage Assam 2.0 – Investment & Infrastructure Summit 2025, to be held on February 25 and 26, 2025; in Guwahati, aims to position Assam as a leading investment hub and gateway to Southeast Asia. Assam with its enhanced infrastructure, natural resources, and a single-window clearance system for investors, is primed for transformational growth. The Roadshow at Hyderabad was hosted to build momentum toward the Summit.

Dr. Ranoj Pegu, Minister of School Education, Higher Education, Tribal Affairs (Plain), Government of Assam; delivered a special address on ‘Advantage Assam’ at the Hyderabad Roadshow on ‘ADVANTAGE ASSAM 2.0 SUMMIT 2025’, highlighting the economic transformation of Assam and its investor-friendly policies, while inviting investments from across diverse sectors.

Senior officials from the Government of Assam addressed the gathering of potential investors on the state’s pro-investment policies and engaged in direct discussions with the potential investors. Dr. B. Kalyan Chakravarthy, Additional Chief Secretary, spoke about Investment Opportunities and the Tourism Sector in Assam and K. S. Gopinath Narayan, Principal Secretary (IT) addressed the gathering on Opportunities in AI-VR Tech for an immersive experience to boost IT. Oinam S Singh, Commissioner, Industries & Commerce, and Mr. V V Rama Raju, Co-Chairman, FICCI Telangana State Council & Founder & Managing Director, Gaja Engineering Private Ltd.; also spoke on the occasion.

Addressing the gathering Minister Pegu said, ‘We have already seen tremendous interest from national and international players in Assam’s potential. The Hyderabad Roadshow will continue this momentum, connecting us with the brightest minds and businesses that can help shape Assam’s journey as a top investment destination. Assam has undergone a remarkable transformation in recent years, redefining itself in terms of communication, infrastructure, and industrial development. Today, we proudly present Aspirational Assam—a rapidly developing, forward-looking state poised for a brighter future.’

The Minister further deliberated on harnessing the power of technology to revolutionize the education sector. ‘An AI-driven management system for schools has been introduced, enabling real-time updates on every student’s performance and fostering seamless communication between teachers and parents. Our commitment to restructuring the educational landscape is evident through significant investments’, stated the Minister.

He added that the number of medical and engineering colleges has been expanded, with even more institutions set to open by 2026-27. Minister Pegu stated, ‘We are also proud to announce the commissioning of a dedicated university for Science and Technology and another exclusively focused on new-age technologies like AI and ML, which will soon become operational. In the past decade, 25% of the population has been lifted out of multi-dimensional poverty, laying a strong foundation for sustained progress. Assam is on the cusp of rapid industrial growth, and we invite you to explore the opportunities in East India, particularly Assam. The mindset of the people has shifted—they are more welcoming and eager to drive growth within the state. The State Government has also established the Assam Skill University, dedicated to skilling students and creating an employable workforce. The Government of Assam is committed to supporting industries by ensuring a steady supply of skilled manpower and providing a robust framework of assistance, incentives, and subsidies for those ready to invest in our state. We warmly welcome you to witness the rise and be part of the new Assam, journey as a dynamic, aspirational, and ready to take its place as a hub of innovation and industrial progress’, said the Minister.

Additional Chief Secretary Dr. Kalyan Chakravarthy said, Assam has achieved extraordinary economic growth over the last decade, doubling its economy from $29 billion to $68 billion, with an ambitious goal of reaching $130 billion by 2030. The growth rate outpaces the national average by 2%, showcasing Assam’s determination to catch up and even surpass expectations. Our tax revenue growth hit an impressive 25% last year, reflecting the state’s robust financial momentum. To further boost our economic landscape, the Government of Assam is establishing multi-modal logistic parks that will connect Assam to the entire South East Asian region, attracting significant interest from investors. Assam is also making an unprecedented ₹1 lakh crore investment in mega infrastructure projects, which will transform the region into a vital economic hub. With six operational airports and more in the pipeline, connectivity across the state and beyond is being strengthened like never before. In a landmark development, the Tata Group has invested in a semiconductor unit in Assam. Beyond this, they are partnering with us to equip the youth of Assam with industry-relevant skills through ITIs and polytechnic institutes, ensuring a skilled workforce that’s ready to meet the demands of global industries. Assam is not just growing; it’s thriving. ‘We invite you to be a part of this journey as we emerge as a gateway to South East Asia, brimming with opportunities and promise’, stated Chakravarthy.

Principal Secretary (IT) K. S. Gopinath Narayan said, Assam’s industrial policy is designed to be bold and aggressive, offering investor-friendly incentive schemes that make doing business here seamless and rewarding. We are deeply committed to fostering investor growth and building a strong partnership that leads to shared prosperity. With a vision to create an environment where businesses can thrive, Assam is paving the way for mutual success and sustainable development. Together, let’s unlock the immense potential of this dynamic state and achieve new heights of progress.

Commissioner of Industries and Commerce Oinam Sarankumar Singh said that Assam has an exhaustive basket of investor friendly policies. The industry policies of Assam are the most enabling ecosystem any state can offer.

V V Rama Raju, Co-Chairman, FICCI Telangana State Council & Managing Director, Gaja Engineering Private Ltd. said, the state of Assam is rapidly emerging as a key driver of India’s economic growth, carving out a pivotal role in the nation’s development. With dynamic advancements across diverse sectors such as semiconductors, aerospace, defence, pharmaceuticals, renewable energy, and food processing, Assam is making its mark on the global map. Today, Assam stands tall as a bright and promising destination for investors, offering unparalleled opportunities in a region brimming with potential. With its strategic location, rich resources, and forward-thinking initiatives, Assam is not just growing—it’s transforming into a beacon of progress and innovation.

The Hyderabad Roadshow laid emphasis on Assam’s strategic strengths in key industries including Electronics and Semiconductors; Aerospace and Defence Manufacturing; Renewable Energy; Pharmaceuticals and Food Processing and Tourism and Hospitality.

Assam has witnessed unprecedented growth, bolstered by over ₹ 65,000 crore in infrastructural investments since 2014. Some of the key initiatives undertaken by the Government include:

• Semiconductor Manufacturing: Tata Group’s establishing India’s first Semiconductor Assembly and Test Unit in Jagiroad.
• Infrastructure Development: Six-lane highways, bridges over the Brahmaputra River, and digital connectivity initiatives.
• Healthcare and Education: Partnering with the Tata Trust for world-class cancer care and the establishment of 23 medical colleges.

The Hyderabad Roadshow marks a significant step in realizing Assam’s vision of inclusive economic development and global investment partnerships. With its unparalleled growth story, strategic location, and investor-friendly policies, Assam invites industries across sectors to be a part of its transformational journey.

WEF 2025: KPMG Unveils ‘Viksit Bharat 2047’ Digital Roadmap

Davos, January 24, 2025: KPMG in India today released its report, “India’s Digital Dividend: A Strategic Roadmap Towards Becoming a Global Digital Leader,” on the sidelines of the World Economic Forum Annual Meeting 2025 in Davos. The report was officially launched during a joint panel discussion by the Confederation of Indian Industry (CII) and KPMG in India, which examined India’s increasing prominence and strategic role in shaping the global digital economy. The report was launched in the presence of Hon’ble minister Shri Jayant Chaudhary, Union Minister of State for Skill Development & Entrepreneurship as well as Minister of State in the Education Department, Government of India; Bill Thomas, Global Chairman, KPMG International and Yezdi Nagporewalla, CEO, KPMG in India.

The report delves into how India’s digital dividend—economic and societal benefits arising from its dynamic digital landscape—coupled with advancements in digital infrastructure, AI, and emerging technologies, has significantly amplified its role in reshaping the global digital economy. It highlights India’s capacity to leverage technology to tackle critical issues, from fostering sustainable governance and creating job opportunities to driving modern urban planning and combating climate change. The findings of the report call on policymakers, businesses, and other stakeholders to collaborate and leverage India’s digital potential to create a more inclusive and prosperous future. In alignment with the vision of Viksit Bharat 2047, a national initiative aimed at transforming India into a developed and sustainable nation by its centenary year, this strategic roadmap outlines the critical steps needed to position India as a global leader in the digital economy.

Commenting on the report Bill Thomas, Global Chairman and CEO, KPMG International, said “The world is grappling with an array of rapid technological shifts, from the rise of AI to evolving regulation. This report highlights the key role India is playing in helping tackle these challenges, leveraging its digital assets to drive growth, foster innovation, and build a more inclusive society. India’s strong progress has created the potential for the country to become a true digital powerhouse.”

“India’s rapid digital transformation is propelling the nation toward Viksit Bharat ambition. By leveraging strategic investments in frontier technologies including AI, alongside the power of a skilled and agile workforce, India is setting new benchmarks in the global digital economy. India’s vision of inclusive growth, where technology bridges divide, empowers citizens, and drives innovation at scale is becoming a reality and India is poised to not only lead the development but also shape a sustainable, digital-first world,” said Yezdi Nagporewalla, CEO, KPMG in India.

The report outlines core factors, briefly listed below, that will determine the journey of Viksit Bharat 2047 to drive long-term, inclusive growth.

AI and Emerging Technologies for Resilience: Addressing the World’s Polycrisis
The role of public-private partnerships (PPPs) in driving digital transformation across key sectors such as healthcare, education, and fintech is crucial. These collaborations are not only enhancing equitable access to digital services but also ensuring scalability and long-term sustainability. By leveraging AI and emerging technologies, we can solve complex global challenges, helping build resilient systems that support economic and social stability.

India emerging as a Leader in AI Skills Among G20 Nations: Pioneering Predictive Analytics and Automation
India is rapidly adopting AI technologies, bolstered by a strong engineering base and leadership in predictive analytics and automation. The success of initiatives like the Smart Cities Mission showcases how public-private partnerships are driving scalable, inclusive digital transformation. This makes India a global leader in shaping the future of AI, setting a benchmark for other nations to follow.

Workforce in 2025 and beyond – Hybrid Work and Gig Economy: India’s Blueprint for a Resilient Future Workforce
As the future of work evolves, it is essential to upskill the workforce in emerging technologies such as AI, blockchain, and IoT. With the rise of hybrid work models and the gig economy, the need for virtual mentoring, AI-powered performance reviews, and establishing social safety nets for gig workers becomes paramount. AI interventions can amplify human capabilities, enabling more efficient work processes.

Strategic Actions for Success in the Digital Age: Innovation Clusters and Robust Governance
To accelerate innovation, we must establish innovation clusters, co-invest in R&D, and foster cross-sector collaboration. Transparent governance frameworks are equally important to ensure that progress remains ethical and sustainable. By uniting businesses, governments, and academia, we can drive transformative solutions across sectors such as fintech, smart cities, and digital connectivity, laying the foundation for a digitally empowered future.
Governance Frameworks: Ensuring Data Privacy, Cybersecurity, and Ethical AI in India’s Digital Ecosystem
The importance of robust governance frameworks prioritizing data privacy, cybersecurity, and compliance, and how initiatives like DEPA and the Digital Personal Data Protection Act support secure and transparent digital platforms. The report highlights the need for businesses to make ethical AI a core part of their governance, ensuring AI models are transparent, fair, and free from bias.

AIResources, Inc. Takes Over as Air India’s Passenger GSA in the Philippines

GURUGRAM/ MANILA, 23 January 2025: Air India has announced the appointment of Airesources Incorporated as its General Sales Agent (GSA) for passenger business in the Philippines.

Airesources, Inc. will oversee reservations & ticketing, support marketing efforts, and provide comprehensive passenger sales support in the region on behalf of Air India, ensuring streamlined and personalised service delivery to travel agents and customers.

The collaboration will help to strengthen passenger traffic feeding into Air India’s flights from and to Southeast Asia and beyond.

“It is an honor for us to represent Air India in the Philippines. We are fully committed to utilizing Air India’s extensive network, our profound industry knowledge, and our customer-centric approach to showcase Air India’s offerings and strengthen its presence in the Philippine market,” said Ella Sanchez, President of Airesources, Inc.
Air India’s growing fleet and transforming on board experience, combined with Airesources’ commitment to excellence, will provide a world-class travel experience to passengers. Air India operates non-stop flights between India and six destinations in Southeast Asia: Singapore, Bangkok and Phuket (Thailand), Ho Chi Minh City (Vietnam), Bali (Indonesia), and Kuala Lumpur (Malaysia). Air India’s services to these points in Southeast Asia also offer convenient one-stop connections to destinations across Europe, United States and Canada via its hubs in Delhi or Mumbai, and vice versa.
Air India is modernising its fleet and introducing new products and services. Air India recently confirmed an order for 100 widebody and narrowbody Airbus aircraft, adding to its previous orders for 470 aircraft from Airbus and Boeing announced in 2023, thus taking the total number of new aircraft ordered to 570.

Jaipur Rugs Joins Forces with Shyam Ahuja to Relaunch Iconic Carpet Brand Worldwide

24th January 2025, Delhi: Jaipur Rugs is proud to announce its acquisition of Shyam Ahuja, a luxury rug and fabric brand with over five decades of experience bringing exceptional Indian carpets to the world. Jaipur Rugs has acquired ‘the jewel in the crown’ of carpeting making through this deal that obtains both the personal collection of Shyam Ahuja and his entire design archive. It is a landmark opportunity that Jaipur Rugs intends to approach with respect and develop independently as a separate entity with its own supply chain.

Shyam Ahuja, the visionary who founded the luxury rugs and textile design brand in 1963, was then a successful businessman who recognized the potential of the flatwoven dhurrie as a woven canvas, and resolved to sell the textile in America, a market where he built a cult following amongst A-list designers. His name became synonymous with exceptionally crafted dhurries.

Shyam Ahuja’s brand remains an enduring symbol of quiet sophistication and understated elegance, celebrated for its distinctive designs, unparalleled quality and global aesthetic. He was the author of the definitive book, Dhurrie: Flatwoven Rugs of India. In his book, he mentions that the late Princess of Wales had her feet on one of his carpets in her confessional interview, while they also decorated the homes of Jacqueline Kennedy-Onassis and Gianni Versace.

Jaipur Rugs was established in 1978 by Mr. Nand Kishore Chaudhary, who saw the potential for hand- knotted carpets as a way to preserve India’s rich artisanal legacy while benefiting rural populations. His vision has created a global craft brand that is widely respected for its socially conscious business culture. Both Nand Kishore Chaudhary and the late Shyam Ahuja put artisans at the heart of their enterprise and communication.

“We are thrilled to have acquired the exceptional brand, Shyam Ahuja, with his legacy known for timeless design, exceptional craftsmanship and unwavering commitment to quality. We have a shared vision for preserving and elevating the artisanal wealth of our country. The brand has an extremely strong emotional connection with so many customers and patrons around the world, which we will harness to revive the glory days of Shyam Ahuja and re-establish its unique positioning at the top of the market, globally,” said Yogesh Chaudhary, Director, Jaipur Rugs.

“I have long been an admirer of Shyam Ahuja and the cult status aura that surrounds the brand. His instantly recognizable dhurrie designs and sophisticated sensibility for color make for the richest design archive to curate from. It gives me immense joy to see Jaipur Rugs acquire the jewel in the crown – a sleeping beauty that we intend to revive with great respect. It’s an exciting moment in both our stories.” said Greg Foster, Artistic Director, Jaipur Rugs.

Kirana King Appoints Bollywood Actress Mahima Chaudhry as Brand Ambassador

Jaipur, January 24, 2025: Kirana King has announced the appointment of renowned and versatile Bollywood actress, Mahima Chaudhry as their new brand Ambassador. The actress is not only known for her contributions to the films but also she is widely recognized for her inspiring and empowering persona, and now she will be promoting the products of the Kirana Kingas the brand representative.

Managing Director and CEO of Kirana King, Mr. Anup Kumar Khandelwal, welcomed her, by stating “We are extremely proud to have Mahima Chaudhry as part of our brand. Her empowering and inspiring image aligns perfectly with the values of our company Kirana King. Through this partnership, we aim to bring a new sense of energy, trust, and quality to our customers.”

Mahima Chaudhry expressed her delight and said, “Kirana King is a reliable and competent brand that offers quality products at fair prices to the consumer. I feel privileged to associate with this brand, Kirana King and I do believe that it will bring rich experiences and products to the consumer”.

Kirana King is well known for its strong and reliable reputation among their customers and stakeholders. By associating with an esteemed celebrity like Mahima Chaudhry, the brand has strategized to evaluate its product offerings and strengthen its social impact in the market industry. Both Kirana King and actress Mahima Chaudhary are looking forward to this partnership as a significant step towards a new beginning and success.

Featured in several blockbuster films in her acting career, Mahima Chaudhary will be now feature in various advertising campaigns for Kirana King. This initiative will enable the brand to connect with its consumers more efficiently and gain deeper insights into their evolving needs.

Medhavi Skills University Teams Up with Indian Chamber of Commerce to Empower Education and Entrepreneurship

Mumbai/New Delhi, 23 January 2025: Medhavi Skills University (MSU) has signed a Memorandum of Understanding (MoU) with the Indian Chamber of Commerce (ICC) during the North India Education Summit 2025. This partnership aims to address skill shortages in key sectors, enabling learners to acquire industry-relevant competencies and secure sustainable employment opportunities. It also seeks to inculcate an entrepreneurial culture and create sustainable opportunities across industries.

The collaboration leverages the strengths of both institutions to design and implement initiatives that enhance education, innovation, and capacity building. Key objectives include identifying and addressing skill gaps in vital sectors, developing educational programs focused on entrepreneurship and innovation, conducting dissemination activities such as workshops, seminars, and exhibitions, implementing Recognition of Prior Learning (RPL) programs, reskilling, and upskilling initiatives to align with evolving industry needs, and establishing a strategic partnership to apply for government schemes and projects.

Speaking about the collaboration, Mr. Kuldip Sarma, Co-Founder and Pro-Chancellor Medhavi Skills University stated, “This partnership with ICC represents a crucial step in aligning academia with industry demands. By leveraging ICC’s vast network and resources alongside MSU’s expertise in skill development, we aim to equip learners with in-demand skills. Our focus extends beyond technical proficiency to encompass critical thinking, creativity, ethical reasoning, and lifelong learning, ensuring our programs align with the vision of the National Education Policy 2020. The collaboration is happening at an exciting time as ICC celebrates its centenary year.”

Mr. Nikhil Kanodia, Chairman – Indian Chamber of Commerce (ICC), Northern Region while expressing enthusiasm for the partnership, commented, “We are delighted to collaborate with Medhavi Skills University, an institution committed to advancing education and skill development. The expertise of Medhavi Group in the skilling domain is unparalleled. This MoU symbolizes a shared vision to address the dynamic needs of the industry and enable students and professionals to excel in an ever-evolving workforce. Together, we aim to promote, design, and develop educational programs on entrepreneurship and innovation.”

Through this MoU, MSU and ICC will jointly apply for government schemes and projects to maximize the impact of their collaborative efforts. The partnership will facilitate the sharing of knowledge and resources to strengthen entrepreneurial ecosystems and ensure the delivery of quality skill development programs that meet international standards. This partnership underscores a unified commitment to empowering communities through education, innovation, and capacity-building initiatives, setting the stage for a brighter future for learners and professionals alike.