Exicom to Acquire Industry Leader Tritium; Expands Global Footprint in EV Charging

New Delhi, 08 August 2024: Exicom Tele-systems Limited India’s largest Electric Vehicle (“EV”) charger manufacturer, announced today that its subsidiary Exicom Power Solutions B.V. Netherlands and other step down subsidiaries, have entered into a definitive agreement under which it will acquire business and assets of Tritium group of companies (henceforth referred to as “Tritium”), a distinguished global leader in DC Fast Chargers, headquartered in Australia.

With over 13,000 DC Fast Chargers sold in 47 countries, Tritium is recognised as a leading industry brand globally. Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable liquid-cooled DC Fast Chargers for electric vehicles. Tritium’s chargers are designed for both aesthetic appeal and durability in tough environments. They feature engineering that simplifies installation, ownership, and usage.

With this landmark acquisition, Exicom is set to unlock substantial long-term growth and value for its stakeholders. The acquisition adds Tritium’s manufacturing facility in Tennessee, USA, as well as a world-class engineering centre in Brisbane, Australia to Exicom’s existing presence in Asia. The acquisition expands Exicom’s global reach and amplifies its commitment to research and development to drive innovation in this growing industry. With the complementary product portfolio of Exicom and Tritium, the acquisition provides the opportunity to serve the different use cases across the world and expand EV infrastructure adoption.

According to BloombergNEF’s “Economic Transition Scenario,” which forecasts EV growth based on current techno-economic trends, EVs are slated to reach 45 percent of global passenger-vehicle sales by 2030 and 73 percent by 2040.

Anant Nahata, CEO, Exicom said, “This acquisition is in line with Exicom’s strategic vision to be a key contributor to the world of tomorrow by enabling an emission free future for mobility. Exicom and Tritium have a complementary sales and product footprint and have each established leadership in their respective regions. We look forward to working with Tritium’s employees, customers, partners and other stakeholders to grow the business further and provide faster, more reliable charging experiences to EV users across the globe.”

RBI Holds Repo Rate at 6.5%, Supporting Stability and Growth in Real Estate Sector

In a crucial decision for India’s economic landscape, Reserve Bank of India (RBI) Governor Shaktikanta Das announced on August 8th that the central bank will maintain the repo rate at 6.5% in its bi-monthly monetary policy statement. This key rate, which influences the cost of short-term loans for banks, plays an important role in shaping the financial environment for businesses and consumers alike. By holding the repo rate steady, the RBI aims to strike a balance between economic growth and managing inflationary pressures, thereby supporting the ongoing momentum in the real estate sector.

Manoj Gaur, CMD, Gaurs Group & Chairman, CREDAI National-“For the ninth consecutive time, RBI has maintained the status quo on the repo rate. This aligns well with the country’s economic growth projections and will propel infrastructural development. It also signals long-term stability and augurs well for the real estate sector. However, the affordable housing sector development is lagging, and given the huge unmet demand, this is an area of concern, and we hope that RBI will take it into account in the future”

Amit Modi, Director, County Group- “The move by RBI to keep the repo rate unchanged was the need of the hour and we hope it remains the same in near future as well. Looking at the macro economic situation of the country in regards to the middle class, this move was of vital importance for first time home buyers planning to invest in real estate as an asset class, since it’s brings in certain amount of stability in interest rates for those home buyers who are still sitting on the fence, but at the same time aspiring ownership of there dream home. Seen along with the recently announced choice under new indexation policy for Long Term Capital Gains Tax for assets bought before June 23, 2024, this will definitely be seen as favorable act by the huge middle class across India.”

Nayan Raheja, Raheja Developers- “The RBI’s decision to maintain the repo rate at 6.5% for the ninth consecutive time indicates a positive trajectory for the real estate sector. As luxury housing gains momentum, maintaining the status quo will further boost the demand for more properties and strengthen market confidence. On the other hand, it is a huge step towards easing the financial strain on prospective buyers. The sector has already been performing well over the past years, and this decision is anticipated to foster the sector’s growth, opening the gateway for developers to launch projects in emerging areas of interest.”

Sandeep Chhillar, Founder & Chairman, of Landmark Group- “Real estate is a rate-sensitive sector and maintaining the repo rate at 6.50% for the ninth time in a row propels positive sentiments in the realty market. With housing demand at an all-time high, consistent loan rates are likely to see greater confidence among both buyers and developers, paving the way for an upward growth trajectory and a sustained market momentum. This steady approach towards interest rates is expected to increasingly encourage potential homebuyers>”

Ashwinder R. Singh, Co-Chair of CII’s NR Committee on Real Estate, CEO Residential at Bhartiya Urban, and Author- “The RBI’s decision to keep rates steady at 6.5% provides a stable environment for real estate. This continuity helps maintain affordability and boosts investor confidence. By avoiding rate hikes, the RBI supports ongoing projects and encourages new investments, crucial for sustainable growth in the housing sector.”

Kushagr Ansal, Director of Ansal Housing- “The RBI’s decision to maintain the current repo rate for the ninth time is a welcome news for the market. With GDP figures expected to improve and the real estate sector’s contribution to GDP increasing, this move by the RBI will undoubtedly stimulate real estate investments.”

Yash Miglani, MD Migsun Group- “The RBI’s decision to keep the repo rate at 6.5% hfor ninth time has positive implications for the realty sector. With an interest rates remaining stable, prospective homebuyers can take advantage of a favorable lending environment.”

Director of SKA Group Sanjay Sharma- “The RBI’s decision to maintain the repo rate at 6.50% for the ninth consecutive time anticipates an appreciative upswing in the housing market. Amidst the rise in housing prices, the constant home loan rates will bring some relief to homebuyers. In addition, the unchanged interest rates will profit buyers and developers, establishing strong consumer confidence and investment in the sector. The RBI’s decision to keep the repo rate steady will lead to establishing new projects and expanding developments in emerging areas.”

Harsh Gupta, CEO, Sundream Group- “The RBI’s decision to hold the repo rate at 6.5% for the ninth consecutive review reflects a strategic balance between fostering economic growth and managing inflation. This prolonged period of stability, the second-longest in the past 25 years, signals confidence in the current economic trajectory. With the GDP growth projection steady at 7.2%, the RBI’s policy supports a robust economic environment, encouraging sustained investment and development. This consistent monetary stance reassures markets and investors, providing a predictable backdrop for commercial ventures and long-term planning.”

Rajjath Goel, Managing Director, MRG Group- “The authorities have reinforced the sign of stability by keeping the repo rate constant for the ninth time. With the GDP growth projection steady at 7.2%, this stability of 6.5% in the repo rate will strengthen the buyers’ incline towards the sector. Such steadiness will lower borrowing costs, making real estate development projects more accessible and affordable. However, a modest reduction in the repo rate would be beneficial, offering encouragement to developers and buyers. Given real estate’s sensitivity to price fluctuations, the RBI’s steady approach is expected to provide a valuable boost to the industry.”

Sanjeev Arora, Director, 360 Realtors- “Keeping the repo rate unchanged was on expected lines, following hike in inflation to 5.1% in the month of June. Rise in inflation coupled with uncertainties in the global market and surge in freight prices will dissuade the government to take a more aggressive stance on economy. Rather than liquidity infusion, the focus will be pinned more on stable prices. The silver lining is that EMIs will remain unchanged and the realty demand is not going to cool down soon. Upbeat job market, healthy economic momentum and expansive aggregate demand will continue to drive both housing and commercial real estate in the country in positive direction.”

Prateek Tiwari, MD, Prateek Group – “The repo rate is unchanged at 6.50% which is a strategic move that supports ongoing growth in the real estate sector. The Indian real estate market has been witnessing growth recently, and this steady rate is set to further benefit the sector. Particularly, the luxury and premium segments have seen a notable increase in sales, with buyers eager to invest in high-end properties. We believe this decision will positively impact the luxury real estate market and propel the sector’s growth.”

Uddhav Poddar, Managing Director, Bhumika Group-“The projections of GDP growth are robust. Given this backdrop the decision by RBI to keep the repo rate unchanged, this is a sign of stability and it presents a picture of a resilient economy.”

Dr. Amish Bhutani, Managing Director, Group 108- “The RBI has once again taken a commendable step by maintaining the repo rate steady for the ninth consecutive time. A stable repo rate instills confidence in both commercial real estate investors and homebuyers. This stability directly impacts the growth of the real estate sector, significantly contributing to India’s GDP and future growth prospects.”

Harinder Singh Hora, Founder Chairman, Reach Group-“We commend the RBI’s decision to maintain the repo rate. This strategic move is anticipated to positively impact commercial real estate growth by ensuring stable loan interest rates. Potential buyers in these markets will benefit from not having additional financial pressures, fostering a more conducive environment for investment. This decision is poised to elevate the sector, paving the way for new project launches in emerging areas.”

Prateek Mittal, ED, Sushma Group- “The RBI Governor chose to maintain the repo rate at 6.50% for the ninth consecutive time. This move is promising because it reduces the financial pressure on potential buyers. This decision could serve as a strong motivator for those interested in commercial property to move forward with their purchases. Additionally, it is likely to encourage the growth of affordable and mid-range commercial developments, invigorate the real estate market, and help more people realize their property ownership aspirations.”

Mukul Bansal, MD, Motiaz-“The RBI’s decision to keep the repo rate unchanged reflects their confidence in the economic outlook. This consistency is likely to have a substantial positive effect on the residential real estate market, presenting attractive investment opportunities for a broad range of buyers. We believe this approach will continue to support the real estate sector moving forward. Additionally, the government’s efforts to manage inflation will provide further advantages. This stability is expected to benefit both residential and commercial real estate sectors, creating enticing investment prospects for all investors.”

Sehaj Chawla, Managing Director of TREVOC- “RBI’s decision to maintain the current repo rate, along with its focus on curtailing inflation, brings a much-needed sigh of relief for buyers, bankers, and real estate developers. This stability is crucial as it bolsters market confidence, allowing stakeholders to plan and invest with greater certainty. The unchanged rate, now ingrained in market expectations, further solidifies a foundation for sustainable growth in the real estate sector.”

Prasoon Chauhan, Founder & CEO, Aurika Homes- “There is a huge unmet demand for houses in the country. Coupled with the recent budgetary provision to promote urban housing and stability in the repo rate for the last two years, it will boost the real estate sector growth. However, inflation is a matter of concern, and we hope that RBI succeeds in curbing its rise, which in turn may lead to a further reduction in the repo rate.”

Piyush Kansal Executive Director of Royale Estate Group- “The RBI’s decision to keep the repo rate at 6.50% for the ninth consecutive year is expected to positively impact the real estate market. As home prices are rising, the stability in home loan rates will offer some relief to buyers. Furthermore, maintaining these interest rates is likely to benefit both purchasers and developers, boosting consumer confidence and encouraging investment in the sector. This steady rate is anticipated to see the launch of new projects and drive growth in developing regions.”

Pawan Sharma, MD, Trisol RED- “The RBI’s decision to maintain the repo rate at 6.5% for the ninth consecutive time greatly benefits the real estate sector. This stability in interest rates enhances consumer confidence, making home purchases more attractive and affordable. As a result, real estate emerges as a more appealing investment compared to volatile alternatives, drawing interest from both domestic and foreign investors.”

Tejpreet Singh, MD, Gillco Group-“The Indian real estate sector has been on a strong upward trend in recent years. The RBI’s move to keep the repo rate steady at 6.50% is likely to further benefit this Real Estate sector. We’ve seen a notable rise in sales within the premium and luxury segments, and stable interest rates should boost buyer confidence and maintain interest in the market. Given the sector’s positive performance over the past few years, this decision will continue to support both buyers and developers. It’s also important to remember that the market tends to recover and grow, and we expect this trend to continue.”

Neeraj Sharma, MD, Escon Infra Realtor –“Real estate investments are growing exponentially, and the RBI’s decision to maintain the repo rate at 6.50% for the ninth time will further boost the industry. With rising luxury housing demand, stable loan rates will foster greater confidence among buyers and developers, promoting sustainable, long-term growth. This consistency in interest rates will enhance the residential sector, encouraging developers to curate projects catering to the buyers’ needs.”

Ajendra Singh, Vice President Sales and Marketing, Spectrum Metro- “The RBI’s decision to maintain the repo rate at 6.50% for the ninth consecutive time is a positive step towards easing the financial strain on prospective buyers. This decision is slated to provide a significant incentive for potential buyers in the commercial sector to proceed with their property purchases. Furthermore, it is expected to boost the development of affordable and mid-range commercial projects, foster a vibrant real estate market, and facilitate more individuals achieving property ownership dreams.”

Salil Kumar, Director, Marketing and Business Management, CRC Group- “Once again, the RBI has made a commendable move by keeping the repo rate constant. With an exceptionally performing economy and good GDP growth, stable interest rates will benefit buyers and developers. This will further strengthen the commercial and residential market, offering investment opportunities to all. Considering the upcoming festive season, this announcement will lead to outstanding customer engagement, benefitting the entire sector.”

The RBI’s decision to keep the repo rate unchanged at 6.5% underscores its commitment to nurturing economic stability and growth. This strategic move is anticipated to flourish the Indian real estate market by making home and commercial property investments more affordable. As the sector continues to grow, the steady repo rate provides a conducive environment for further expansion, benefiting both investors and the broader economy. The RBI’s approach reflects a cautious yet optimistic outlook, aiming to sustain progress while ensuring long-term stability in the financial system.

The World-renowned Apollo standard care comes to Chirala with the launch of Apollo Spectra Hospital

Chirala, 8th August 2024: Apollo Health and Lifestyle Limited (AHLL), a subsidiary of Apollo Hospitals Group; announced its foray into Chirala, with its boutique format multi-speciality hospital, The Apollo Spectra Hospital, today. The modern secondary care Hospital offering cutting edge personalised treatment, was formally inaugurated by Dr Manikyamma, a renowned gynaecologist from Chirala. The launch of the state-of-the-art Apollo Spectra Hospital which aims to provide access to comprehensive, affordable and personalized quality healthcare to the people of Chirala and the neighbourhood. Chirala is a buzzing coastal city in the state of Andhra Pradesh.

The Apollo Spectra Hospital at Chirala is designed to meet the highest standards of medical excellence, ensuring every patient receives tailored attention and care. Spanning an impressive 33,000 square feet, the hospital is a fifty-bedded facility equipped to deliver exceptional patient care. It boasts thirteen ICU beds, five emergency beds, and three paediatric ICU beds, alongside nineteen rooms and two general wards, all designed with best-in-class amenities and a patient-friendly ambiance.

Speaking on the occasion Dr Manikyamma said, Its more than five decades since we have been rendering quality medical care to patients through Ravi Nursing Home in Chirala. It was Dr Doppalapudi Dasaradha Ramaiah, who brought the first ultrasound scan machine, gastroscopy equipment, to benefit the patients of Chirala. I am confident of the new Apollo Spectra Hospital making a mark in Chirala and helping patients to get the best medical care services here itself.

“As we open the doors of Apollo Spectra Hospital in Chirala, we bring with us a commitment to world-class healthcare and unwavering compassion. Apollo Spectra is guided by a ‘patient-centric’ approach and strengthened by the introduction of quality systems built on Apollo’s deep expertise in the healthcare domain. We believe this format has strong potential to address the ever-growing need for quality & customized health care especially for a wide range of surgeries which do not require long stay. The format blends access, convenience and quality with an intent to address immediate needs of the neighbourhood it operates in. Our state-of-the-art facility, combined with a legacy of excellence and a team of highly skilled specialists, ensures the best medical care right here. Our endeavour is to make every patient feel valued and receive the best possible treatment close to home”, says Sriram Iyer, CEO, Apollo Health and Lifestyle Ltd.

Apollo Spectra Hospital, Chirala; features the latest in medical technology, including four ultra-modern operating theatres, an avant-garde diagnostic lab, an ultrasound scan with a transvaginal probe and printer, 12-channel ECG machines, foetal monitors and dopplers, and gastroscopy equipment. Additionally, the ICUs are equipped with para monitors, defibrillators, and a range of other cutting-edge devices, ensuring the highest safety standards for every patient.

“Our family’s five-decade legacy of providing the highest quality care in Chirala, coupled with the global standard expertise of Apollo Spectra Group and backed by the renowned Apollo Hospitals Group, is set to transform the patient experience to next level. With this modern facility now in their vicinity, patients in Chirala and neighbouring areas no longer need to travel to distant Hyderabad or Chennai in search of top-notch medical care. This local access to world-class healthcare will elevate patient care to unprecedented levels”; says Dr Doppalapudi Ravikiran, M.D, Manikyamma Multispeciality Hospital, Chirala.

 Over the last few decades Chirala, Bapatla and nearby towns witnessed tremendous growth, but healthcare systems in this area still lack critical infrastructure to keep up with the ever growing needs. Even today critical patients from Chirala have to go to Guntur or Ongole. Apollo Hospitals has rendered world class medical services for the last four decades in various cities across India and have set new standards in the world of healthcare. We from Ravi Nursing Home, strongly believe in advancing healthcare by partnering with Apollo Spectra Hospital. Our motto is to bring quality healthcare together, which is more patient friendly and easily accessible. We are committed to bringing medial and surgical services that are on par with international standards, coupled with best practices. Apollo Spectra Hospitals, Chirala is the 23rd hospital of the Apollo Spectra Hospitals chain in India. It has 13 functional ICU beds along with NICU and paediatric ICU. It has in-room birthing suits, supported by cutting edge technology, ensuring highest safety standards. Patients can expect care from specialists from diverse specialities under one roof. We will be commencing all other super specialities shortly, Dr Ravikiran added.

Shri Vegesana Narendra Varma, MLA, Baptla; said, though I belong to Bapatla, the medical facilities at Bapatla are relatively lesser in comparison to Chirala and several patients prefer to come to Chirala. With a reputed Hospital like Apollo Hospitals coming to Chirala, makes it the destination for best medical care, which is a long felt need of the people in the region. Medical infrastructure wise this area is backward, but off late some new developments are seen in medical facilities and hope to see more hospitals like Apollo Hospitals setting up their services here. Ravi Nursing home run by Dr Manikyamma has very good reputation for medical care and the new Apollo Spectra Hospital at Chirala will benefit the patients immensely.

Dr Vijaya Agarwal, DMS, Apollo Health and Lifestyle Ltd., said, Apollo bring four decades of world class healthcare experience with hospitals across the country rendering services to patients. We provide affordable care using local resources, state-of-the-art technology backed by best talent in the country. Our healthcare services not only focus on curative healthcare, we lay great emphasis on preventive healthcare. Our vertical ProHealth is the preventive healthcare vertical, which is backed by Artificial Intelligence. AI prescribes customised healthcare package depending on the need of the patient. The results provide the current status and predict the future disease risk patterns of the patient. This helps to diagnose the disease at a very early stage and prevent it with appropriate care. We have a very strong quality management program, which is called Q4E, Quality for excellence, which monitors 40 different quality indicators, monitored by a central by a team of experts, any deviation in the quality is fixed then and there. Through this hospital we will be serving the people of Chirala, who no more need to go out of Chirala for higher health care needs.

Shri Karnam Balaram, former MLA and MP; speaking at the inauguration said, Ravi Nursing Home was the most reputed hospital in Chirala. Dr Manikyamma cared for generations of women during their pregnancy in Chirala and Dr Doppalapudi Dasaradha Ramaiah, was reputed to the best care. Dr Ravikiran and Dr Nirupami are continuing the legacy of their parents. People have the highest confidence in the care rendered by Apollo Hospitals and happy that Apollo is bringing those quality services for patients here.

Highly experienced specialists, trained both abroad and in India, helm the diverse specialities at Apollo Spectra Hospital, Chirala. These include General and Laparoscopic Surgery; Obstetrics and Gynecology; General Medicine; Chest Medicine; Anesthesia and Critical Care; Nephrology; Cardiology; Neurology; Gastroenterology; Urology; Plastic Surgery; Orthopedics; Pediatrics; Radiology; E N T; Dermatology; Psychiatry; and more. This extensive range of expertise ensures that patients receive comprehensive care under one roof.

Apollo Spectra Hospitals, the largest network of multi-speciality short stay surgical hospitals in India, has presence currently in sixteen cities across India, including in Delhi, Mumbai, Bangalore, Hyderabad and Chennai, the hospital at Chirala is the twenty third hospital of the chain. The network hospitals with over 3000 leadings specialists performed over 3,50,000 successful surgeries. The Group further plans to expand its footprint to certain important cities in North India as well, in this financial year.

The Sandur Manganese & Iron Ores Limited Announces Appointment of New CEO and COO

Mumbai/Bengaluru, 8 August 2024: The Sandur Manganese & Iron Ores Limited (‘SMIORE’ or ‘the Company’), a leading player in the mining and metals industry, is pleased to announce the appointment of Krishnendu Sanyal as Chief Executive Officer (CEO) and Manjunath Prabhu as Chief Operating Officer (COO). These leadership appointments are aimed at augmenting the Company’s management bandwidth and driving forward its ambitious plans for integration and sustainability in the metals & mining industry.

Krishnendu Sanyal, the newly appointed CEO, brings ~32 years of experience in strategic, financial, and operational leadership. His illustrious career spans across major companies such as Tata Steel in India and Sri Lanka, The Siam Industrial Wire Co. in Thailand, and Sedibeng Iron Ore in South Africa. Krishnendu has global experience and a proven track record in turning around and expanding operations, and creating value through acquisitions, integrations, and divestments. He has valuable domestic and international experience with one of the country’s largest companies whose core values resonate with that of SMIORE. He has led various roles and undertaken responsibilities in business sustainability, management change, and new business development across different geographies. His past experience perfectly aligns with SMIORE’s future endeavours. He holds a Bachelor’s degree in Mechanical Engineering coupled with a Master’s in Business Administration. He has also participated in Tata Group Strategic Leadership Program from Harvard Business School.

Manjunath Prabhu, the newly appointed COO, also has ~36 years of experience in operations, leadership, and strategic planning. His extensive background includes significant roles at JSW Steel, Vijayanagar; Essar Steel, Visakhapatnam; and KOICL, Mangalore. Manjunath has a deep understanding of the Ballari region’s metals and mining operations and expertise in various facets of operations including production, project commissioning, land acquisition, beneficiation, and raw material handling system (RMHS), among others. He is a Mechanical Engineering graduate by qualification and was part of the Future Fit Leader by Cornell University from 2016-19.

Commenting on this milestone, Bahirji A. Ghorpade, Managing Director, SMIORE said:
“This is a strategic initiative to augment our management bandwidth and bolster our leadership as we march forward with our plans to cement our position in the industry. As we transition towards a sustainable and integrated future, building the required management bandwidth to drive the execution of our strategic priorities is crucial. We are excited to welcome Krishnendu and Manjunath to the SMIORE family. With his global experience with steel industry majors, Krishnendu’s expertise in various facets of the industry and strategic leadership will be a valuable addition. At the same time, Manjunath’s long stint with one of India’s leading steel players and his experience in Bellari’s metals & mining operations will be an invaluable asset. I look forward to working closely with both of them, as we scale new heights and continue to innovate and excel, creating a future-ready organisation poised for sustainable value creation.”

Speaking on being appointed as the CEO of SMIORE, Krishnendu Sanyal, said:
“I am excited to be part of SMIORE’s promising transition to an integrated and sustainable metals and mining powerhouse. With many potent triggers in the offing, including its recent mining expansion, SMIORE is on a path to creating a lasting legacy in the Indian metals & mining industry.”

Speaking on being appointed as the COO of SMIORE, Manjunath Prabhu, said:
“Having been working in the Bellari region since 1996, I have observed up close how SMIORE has run one of the best mining operations in the country. I have great respect and admiration for the SMIORE brand, and I am excited to contribute to its journey of transitioning beyond mining into other facets of the industry.”

Apollo Diagnostics Unveils Its New Modern Processing Lab At Kasba, In South Kolkata

Kolkata, August 8, 2024: Apollo Diagnostics, a unit of Apollo Health and Lifestyle Ltd., one of the leading diagnostic lab chains with an ISO certification; unveiled its 140th processing lab, in the country, at Kasba in South Kolkata. The state-of-the-art Apollo Diagnostics lab was inaugurated by the Chief Guest, Mr Javed Ahmed Khan, MLA, Kasba Constituency. Apollo Diagnostics has 4 other labs in the region, in addition to this lab, along with 200 more centers in the state of West Bengal.

With a monthly processing capacity of over 25,000 samples, the new lab offers a broad spectrum of tests from routine to specialized, including home sample collection services. This expansion addresses the growing demand for high-quality diagnostic services in the region. Residents of Kasba will now have access to over 3,000 tests and various preventive Xpert Health Checkup packages of Apollo Diagnostics.

“Our new lab in Kasba helps us improve the turnaround time on reports and also strengthens our position in the state of West Bengal. Patients can now receive world-class diagnostic services right here”, said Mr Sriram Iyer, Chief Executive Officer, Apollo Health & Lifestyle Limited.

The laboratory spans over 1500 square feet and comprises multiple divisions, including Hematology, Biochemistry, Clinical Pathology, Serology and Microbiology. It uses fully automated instruments to avoid manual errors, and works as per the NABL quality standards to give accurate and precise test results. All the lab doctors and technicians are certified and professionally trained to service the customers with expertise.

Fortune Hotels signs a new property in Rishikesh

New Delhi, 8th August 2024: Fortune Hotels, a member of ITC’s hotel group, announced its latest signing in Rishikesh, Uttarakhand. With stellar views of the Holy Ganges, this under development property is all set to open in June 2025.

Poised to feature stylish well-appointed rooms and suites, this upscale retreat is designed to cater to the diverse needs of the modern day traveller, be it the soul seeker or an adventure enthusiast. In addition, the resort will consist of an array of contemporary amenities, including a spacious café, a versatile all-day diner, a chic bar, and a banquet hall suitable for various events and gatherings. Guests can also look forward to rejuvenating at the state-of-the-art spa or by the rooftop swimming pool enjoying panoramic views of the surrounding landscape.

Speaking on the signing, Mr Samir MC, Managing Director, Fortune Hotels said, “We are committed to Fortune Hotels expansion plans into tier II and III cities, with a special focus on leisure markets. This upcoming property, strategically located in the beautiful confines of Uttarakhand, makes for a very strong business proposition, and is our fifth signing in the state. Its impressive location and spiritual fabric adds another feather to our leisure offerings that our guests can travel to and explore.”

Rishikesh, located at an altitude of 340 m, is a revered city on the banks of the river Ganges, approximately 45 kms from Dehradun. While on one hand its known as the ‘Yoga capital of the world’, attracting visitors from across the globe seeking peace and spiritual enrichment; on the other hand, it’s an adventure seekers paradise flocked by rafters seeking to experience the rapids and trekkers eager to scale its hilly terrain.

Moreover, Rishikesh is the gateway to the Char Dham pilgrimage sites: Badrinath, Kedarnath, Gangotri, and Yamunotri. The city’s vibrant culture and the serene Ganga aarti at Triveni Ghat make it a must-visit destination. Additionally, its proximity to major business hubs and pharmaceutical companies in Haridwar, Rishikesh, and Dehradun further enhances its appeal.

In addition to this new signing Fortune Hotels has three other operating hotels in Uttarakhand namely, Haridwar, Haldwani, Mussoorie and a soon to open jungle retreat in Jim Corbett.

Kia becomes the fastest carmaker to achieve 1 Million Domestic Sales

Mumbai, 08 August 2024: Kia India, celebrating its fifth year in the country, announced the achievement of the 1 million unit sales milestone in the domestic market. The fastest-growing premium carmaker in the country has achieved this milestone within 59 months of its India operations. The flagship, Kia Seltos, has been a significant success driver for the company, accounting for over 48% of its total domestic sales. Following Seltos, Sonet and Carens contribute 34% and 16% to Kia India’s total domestic dispatches, respectively.

Launched in 2019, the company revolutionised the Indian Automotive Industry with its futuristic technology and cutting-edge design, helping it to become one of the most aspirational car brands in the country. With 42% of its sales coming from the top trims, Kia India broke the common disbelief that India is only a cost-conscious market. With its thoughtful product intervention and trim strategy, Kia also grew the adoption of Automatic and newer transmission technology in India. Currently, Kia India offers 3 automatic transmissions – IVT, 6AT and 7DCT- which contribute 32% of its total sales. Kia also launched iMT (Intelligent Manual Transmission) with Sonet in 2020, contributing 15% to its domestic dispatches. The company’s Petrol to Diesel ratio remains at 59%:41% currently.

Commenting on the milestone, Mr. Joonsu Cho, Chief Sales Officer, Kia India, said, “We have been achieving milestones constantly since our launch in record time. These milestones become even more important when you face diversity at every step of this country and competition from legacy players with more than a decade of experience. Achieving 1 million domestic sales is a testament to our continued focus on the Indian market and the need gap of the Indian customers. My heartfelt thanks to all our customers who have shown trust in our brand and made us one of the most loved carmakers in the country.”

He further added, “Kia is synonymous with innovation. With our latest technology, design, and in-car features, we constantly challenge established practices, not only in India but globally as well. We will soon launch our global flagships in India this year, followed by a home-grown new model, which will prove the above claim. India is a thriving ground for automotive companies, and with our innovative and aspirational products and services, we are sure to be one of the major catalysts to the growth of the Indian Automotive Industry.”

The company started with an annual sales volume of 45,226 units in 2019, which grew to 140,505 units in 2020, 181,583 units in 2021, and 254,556 units in 2022. Last year, Kia solidified its presence with annual sales of 255,000 units. Until now, Kia has sold almost 1.5 Lakh units in the first 7 months of 2024 in the domestic market, indicating a healthy progression to the upcoming festive season. The brand has expanded its footprint in the country with a widespread network of 588 touchpoints across 256 cities.

India is also a significant export base for Kia Corporation, with Kia India dispatching over 2.6 lakh units to over 100 export markets. Kia India’s cumulative sales (Including overseas dispatches) stand at almost 1.3 million units.

Eight Continents Expands in Scotland with Taychreggan Hotel

08-08-2024, India – Eight Continents, a leading name in the global hospitality industry, proudly announces the expansion of its portfolio with the inclusion of the renowned Taychreggan Hotel in Scotland. This historic and picturesque hotel, nestled on the banks of Loch Awe, enhances Eight Continents’ commitment to offering unique and luxurious experiences in iconic locations around the world. Notably, Taychreggan Hotel marks the first hotel that will be owned by Eight Continents.

The Taychreggan Hotel, with its rich history dating back to the 17th century, offers guests a unique blend of heritage and modern luxury. Originally an old cattle drover’s inn, the hotel has been meticulously restored to retain its historical charm while providing contemporary comforts. The stunning loch-side location, complemented by lush landscapes and breathtaking views, makes Taychreggan a perfect retreat for those seeking tranquility and an authentic Scottish experience.

Eight Continents is dedicated to enhancing the guest experience by preserving the unique characteristics of each property within its portfolio. Taychreggan Hotel is no exception. Guests can expect an array of bespoke services and amenities that reflect both the heritage of the location and the high standards of the Eight Continents brand.

“Taychreggan Hotel embodies the perfect blend of history, natural beauty, and luxury that we seek in our properties. We are excited to bring our expertise in hospitality to this iconic Scottish destination,” said Richa Adhia, Managing Director, Eight Continents Hotels & Resorts. “As our first owned property, our goal is to ensure that every guest experiences the magic of Taychreggan while enjoying the exceptional service and comfort that Eight Continents is known for.”

Taychreggan Hotel offers a variety of activities and experiences for guests of all interests. Outdoor enthusiasts can enjoy hiking, fishing, and boating on Loch Awe, while those seeking relaxation can unwind in the serene surroundings or indulge in spa treatments. The hotel also features elegantly appointed rooms and suites, each designed to provide a cozy and inviting atmosphere.

In line with Eight Continents’ commitment to sustainability, Taychreggan Hotel will implement eco-friendly practices to minimize its environmental footprint. From locally sourced ingredients in its gourmet restaurant to energy-efficient operations, the hotel aims to promote sustainable tourism while offering guests a luxurious stay.

For pet lovers, Taychreggan Hotel ensures that furry companions are treated as VIPs during their stay. Each room includes a chill-out corner for pets to relax, complete with a complimentary treats box and cozy blanket.

Faodail Restaurant at Taychreggan offers stunning views over Loch Awe and award-winning cuisine. The ballroom at Taychreggan is perfect for weddings, conferences, and private celebrations, providing uninterrupted views of Loch Awe and access to the informal gardens. Private dining options are also available, with a lovely room featuring loch views next to the main dining area and a small private room adjacent to the Ghillies Bar.

Eight Continents Hotels & Resorts will own and manage Taychreggan Hotel, ensuring that the highest standards of service and hospitality are maintained. The integration of this iconic property into the Eight Continents portfolio highlights the brand’s commitment to preserving the essence of unique destinations while offering unparalleled luxury.

With its combination of historical charm, luxurious amenities, and commitment to sustainability, Taychreggan Hotel is poised to become a premier destination in the Eight Continents portfolio. The hotel promises an unforgettable experience for guests, set against the breathtaking backdrop of Loch Awe.

Nium Expands Network to 40+ Countries and 15 Currencies

New Delhi – August 8th, 2024 — Nium, the global leader in real-time cross-border payments, today announced the expansion of its local funding and collection capabilities to more than 40 countries and 15 currencies, with more to come. The move makes Nium one of the only providers to offer a network this wide. Customers can now access the broadest range of local currencies through wires and local payment rails, with an extensive selection of currencies tailored to meet the diverse needs of various markets, including developing and emerging economies.

Businesses often face challenges with moving money across borders — whether it is local businesses sending money abroad or global businesses collecting funds locally — due to the limited availability of certain currencies and the need to optimize cash flow and liquidity. Nium’s local currency account offering makes it faster and more cost-effective for businesses, digital platforms, and marketplaces to receive money in the desired country, either for their business or for their customers, without having to manage the complexity of setting up a local entity or opening and managing additional operating accounts.

Through its global network of licenses, Nium offers local currency account details in more than 15 currencies, with newly added capabilities in Brazil, Denmark, Indonesia, the Philippines, Poland, and the UAE, with Mexico and New Zealand expected to follow shortly. These new markets join others including Australia, Canada, EEA, Hong Kong, Japan, Singapore, the UK, and the US.

“Payments companies have underserved access to and from emerging markets, choosing to focus on the G20,” said Alex Johnson, Chief Payments Officer at Nium. “However, to create a truly global enterprise, companies need to be able to access a wide network of markets where their buyers and sellers are domiciled. We now enable more businesses to receive in local currencies for global business needs, allowing them to be more competitive on a global scale. This breadth makes Nium the go-to choice for businesses looking to expand their global reach.”

This expansion is key for many of the industries Nium serves including marketplaces, payroll, and financial institutions. This opens the future ability for Nium’s customers in emerging markets, including direct debit for collections from their customers, FX, split payments, local card settlement and much more. Today for example, a payroll customer in Singapore can use local account details in Singapore to fund their local Nium account in Singapore dollars and send funds to their global workforce in more than 100 currencies and 220+ markets via Nium.

Nium customers can access these local account capabilities through existing APIs, making it easy for them to start quickly and scale at speed. Nium’s local account details offer customers the convenience of:

Reduced funding or collections overhead by eliminating the costs involved with cross-border wire transfers and lack of transparency in FX conversions
Increased transaction speed by utilizing local real time payment rails like Instapay (PH), PIX (BR), SPEI (MX), and many more
Eased payment reconciliation with real time transaction alerts along with transparent sender information
Scaled global business without the overhead of setting up operations in certain emerging markets

Bengal Fruit & Food Festival: Celebrating Diversity in Fruits and Cuisine

Salt Lake, 8th August 2024: Inspired by Mamata Banerjee, Hon’ble Chief Minister of West Bengal, Department of Food Processing Industry and Horticulture, Government of West Bengal, proudly announces the celebration of “Bengal Fruit & Food Festival”, which will be highlighting exotic fruits, regional produces, and diverse culinary delights. This unique festival arises amidst the absence of the traditional “Mango Mela” organized by this Department in Mid June. Due to enforcement of Model code of conduct of just concluded Parliamentary Election, 2024, “Mango Mela” could not be held in June which is considered as Mango season.

Scheduled to commence from August 9 to 11, 2024, at Netaji Indoor Stadium, Kolkata this three- day extravaganza promises to be a vibrant celebration of Bengal’s rich horticultural heritage and food diversity. The festival aims to showcase a plethora of exotic fruits alongside local favorites, offering visitors a delightful culinary experience.

The inauguration ceremony, scheduled for August 9, 2024, will witness the esteemed presence of eight ministers of various Departments and Shri Arup Roy, Hon’ble Minister-in-Charge, FPI&H Deptt., will officially inaugurate the program. The detailed list of Hon’ble Ministers has been given below. The festival will also feature captivating cultural programs each evening, adding to the festive ambiance. Some of the eminent artists of our cultural program are Shri Swapan Basu- Folk Singer, Smt. Pranati Thakur- Reciter, Shri Satinath Mukhopadhyay- Reciter, Shri Soumi Ghosh- versatile singer, Shri Alok Roy Chowdhury- singer etc.

Highlight events during the Bengal Fruit & Food Festival include:

· 9th August, 2024: Audience Quiz.

· 10th August, 2024: Panel Discussion: “Steps to Enhance Horticultural Crop Cultivation in Response to Climate Change and Food Processing,”.

· 11th August, 2024: Cooking Competition.

The list of Hon’ble Ministers:

1. Shri Sobhandeb Chattopadhyay, Hon’ble Minister-in-Charge, Agriculture Deptt. – Chief Guest

2. Shri Moloy Ghatak, Hon’ble Minister-in-Charge, Judicial, Labour, Law Deptt.- Spl. Guest

3. Shri Pradip Kr. Mazumdar, Hon’ble Minister-in-Charge, Panchayat & Rural Dev. Deptt. & Cooperation Deptt. – Spl. Guest

4. Shri Biplab Mitra, Hon’ble Minister-in-Charge, Consumer Affairs Deptt. – Spl. Guest

5. Shri Swapan Debnath, Hon’ble Minister-in-Charge, Animal Resource Development Deptt. – Spl. Guest

6. Md. Ghulam Rabbani, Hon’ble Minister-in-Charge, Environment Deptt. – Spl. Guest

7. Shri Biplab Roychowdhury, Hon’ble Minister of State (I/C), Fisheries, Aquaculture, Aquatic Resources and Fishing Harbour Deptt. – Spl. Guest

8. Shri Becharam Manna, Hon’ble Minister of State (I/C)- Agriculture Marketing Deptt. – Spl. Guest.

A glimpse into the diverse array of stalls from various departments and organizations that will enrich the Bengal Food and Fruit Festival:

(From FPI&H Department)

1. A significant portion of the stalls, 15 to be exact, are given to the Horticulture Directorate and Food Processing Directorate jointly. Here, visitors can expect a visual and educational journey through the horticultural marvels of various districts. From exotic fruits to indigenous vegetables, like dragon fruit, mashroom, Chandramallika, fruit syrup, dried mango etc. along with processed food like jam, jelly, pickles, cake, chocolate, caned pinaple and many more. It will accommodate processed food, spices and herbs, vegetables and fruit market, bank, dairy products, sweet, meat, ice cream, confectionery, restaurants.

2. There is a pavilion for Food Processing Industry where two schemes will be exhibited-PMFME & WB Food Processing Incentive Scheme 2021.

3. One stall is allotted to DCOMP which will be selling spices like black peeper, big cardamom, coffee, lemon grass, Mentha oil, cinchona bark, citron and black berry

4. For the intellectually curious people, a pavilion will be hosted by a department, directorate and corporation jointly showcasing literary resources and magazines.

(From other Deptt)

1. West Bengal Swarojgar Corporation Limited: This organization is likely to showcase stalls featuring locally produced handicrafts, handloom products, and artisanal items that highlight the skills and talents of rural entrepreneurs.

2. Anandadhara (PnRD): Known for promoting rural development through self-help groups, Anandadhara may present stalls offering a variety of handmade goods, organic produce, and rural crafts that reflect the cultural richness of rural Bengal.

3. Fisheries Department: Featuring a variety of fresh and processed food products from West Bengal’s abundant fisheries.

4. Sundarban Cooperative Milk & Livestock Producers Union Ltd: This organization might showcase stalls offering dairy products such as yogurt, ghee, and locally produced cheeses.

5. Sufal Bangla (Agriculture): Sufal Bangla is likely to feature stalls brimming with fresh fruits, vegetables, and organic produce sourced directly from local farmers. It’s an opportunity for visitors to connect with the agricultural heartland of Bengal.

6. Consumer Affairs Department: Stalls from this department could focus on consumer education and awareness. They may offer information on consumer rights, fair trade practices, and perhaps even showcase products that have received quality assurance certifications.

7. Animal Resources Development (ARD): ARD might present stalls for selling meat product, along with information on animal husbandry practices, veterinary care, and perhaps demonstrations related to animal products.

These departments and organizations collectively contribute to the festival’s vibrant atmosphere, offering a blend of agricultural, artisanal, and educational experiences that celebrate the cultural and economic richness of West Bengal. Each stall represents a facet of the region’s diverse heritage and ongoing efforts in rural development, agriculture, and consumer welfare.

And some other stalls (approx. 30) will be hosted by commercial entity which will be selling foods, confectioneries and other commercial items.

These events aim not only to entertain but also to educate and inspire discussions on sustainable horticulture and food processing techniques.

Join us in celebrating Bengal’s Horticultural excellence and culinary heritage at the “Bengal Fruit & Food Festival”.