Industry Titans Rally Behind Modi 3.0, Praise Economic Vision and Reform Commitment

24th June 2024 New Delhi, Delhi, India Industry leaders from diverse sectors have resoundingly expressed support and optimism as Prime Minister Narendra Modi embarks on his third consecutive term. His tenure has been characterized by bold economic reforms and ambitious policy initiatives, earning accolades for creating an enabling environment for growth and development.

PM taking charge of the office of the Prime Minister of India at South Block, in New Delhi on June 10, 2024. Photo Credit: PM India Media Gallery

Under PM Modi’s guidance, India has made significant strides in economic reform, infrastructure enhancement, and business facilitation. Optimism abounds among industry leaders regarding continued economic growth and stability under PM Modi’s leadership. Anticipated improvements in manufacturing, agriculture, technology, and healthcare sectors are poised to generate fresh opportunities and employment for millions of Indians.

Overall, industry sentiment is one of confidence and anticipation, as leaders eagerly collaborate with the government to unlock India’s potential as a dynamic economic force under Prime Minister Modi’s visionary leadership.

“Heartfelt congratulations to Prime Minister Narendra Modi on his tremendous victory and forming the government once again with a vision of progress in the third consecutive term. We commend his steadfast leadership and eagerly anticipate further strides in India’s economic growth. Danube Group, deeply connected to Indian expats and their aspirations, looks forward to contributing to India’s prosperity and global advancement,” expressed Mr. Rizwan Sajan, Founder and Chairman, Danube Group.

Mr. Ajay Chaudhary, CMD of Ace Group, remarked, “We are optimistic that the newly formed government will take significant steps to bolster the real estate sector. We hope that critical issues, such as the implementation of single-window clearance, will be addressed promptly. This will not only expedite projects but also foster a more efficient and transparent regulatory environment.”

Reflecting on the implications for the real estate sector, Mr. Vijay Jain, Managing Director of Star Estate, stated while congratulating Modi 3.0 team, “We eagerly anticipate continued progress and growth under his leadership, expecting this victory to pave the way for industry-friendly policies that will enhance the stability and prosperity of the real estate sector.”

“We eagerly anticipate the country’s progress and global recognition to strengthen further. With the continuation of Prime Minister Modi’s term, we look forward to building upon the transformative policies initiated during his previous tenure, creating an environment conducive to high-quality real estate development and stronger global admiration of the country’s infrastructural growth,” said Mr. Arjunpreet Singh Sahni, Executive Director, Solitaire Group.

Mr. Hari Kaimal, president and Development at Supersonic Imagine, conveyed, “PM Modi’s unwavering dedication to fostering economic growth in the country has been instrumental in achieving this remarkable milestone. Supersonic Imagine eagerly looks forward to continuing its support and confident of remarkable tenure of Modi 3.0 in history of the country.”

“It is a historic victory which showcases Prime Minister’s inspiring leadership that continues to pave the way for India’s growth and development. We look forward to a future of progress and prosperity under his steadfast guidance,” added Mr. Kushal Patel, Managing Director, Axita Cotton.

Mr. Aman Choudhary, Executive Director Marketing at Anmol Industries Limited, added, “We must commend Prime Minister for successfully igniting a renewed optimism in the Indian economy, so much so, we have been a witness to the country’s rise as the world’s third largest economy. As industrialists, we eagerly anticipate his progressive policies to continue in his third term as well. Anmol Industries stands committed to actively contribute its bit to the country’s progress under his dynamic leadership.”

“We believe the clear policy direction of the stable government will continue to bring about a sizable difference in the overall economic scenario of the country, keeping it strongly on a high growth trajectory,” highlighted Dr. Sanjay Gupta, Chairman, Ramagya Group.

Mr. Manoj Gupta, Director, Fortune Marketing Pvt. Ltd emphasized, “We applaud his unwavering leadership and look forward to continued progress under his guidance, believing that the government’s steadfast policies, including ‘Make in India’ will further bolster India’s growth and development on the global stage.”

Mr. Sanchit Sekhwal Goyal, Director of Su-Kam Power Systems Limited, noted, “Prime Minister Narendra Modi’s leadership has fostered a conducive environment for industrial growth and innovation. We look forward to the sustained progress of the country under his guidance.”

Mr. Gautam Kanodia, Co-Founder, Kanodia Group, “Warmest congratulations to Prime Minister Narendra Modi for his historic third consecutive term victory. His visionary policies have laid a strong foundation for India’s economic resurgence. We pledge our support to propel the industry towards greater heights.”

Md. Sharique Khan, Sr. Vice President-India Formulation Business, ArEx Laboratories said, “Heartiest congratulations to Prime Minister on his resounding victory and forming the government for the third consecutive term. His leadership inspires confidence and promises a bright future for India. Arex Group remains committed to supporting the nation’s healthcare sector and contributing to its robust growth under your visionary leadership.” Mr. Lokesh Vats, Director, Easy Solar Solutions Pvt. Ltd. shared, “We appreciate his government’s significant steps to promote renewable energy, particularly in the solar segment, during its earlier terms. The government’s continued commitment to this sector in its new term is expected to further bolster the renewable energy landscape.”

“Winning the faith of voters for third time is undoubtedly the result of PM Modi’s continued commitment to promoting common man and industry-friendly policies, such as Make in India and digital interventions in the industry. As a distinguished player in the power sector, we expect the industry to gain confidence from a stable government and look forward to further advancements that will drive growth and prosperity for all,” added Mr. Rajinder Kaul, CMD, Sharika Enterprises.

“Congratulations to Prime Minister Narendra Modi on his decisive victory and forming the government for the third term. His visionary policies have paved the way for India’s progress, particularly in healthcare,” shared Mr. Sumit Arora, Director, Alniche Lifesciences adding that Alniche is dedicated to advancing healthcare solutions and India’s journey towards health and prosperity under your capable guidance.

The resounding support from industry leaders signifies confidence in Prime Minister Narendra Modi’s leadership to drive India’s growth trajectory forward with sustained economic reforms. The unwavering commitment to policy consistency and reform continuity has bolstered investor confidence, reinforcing India’s allure as a promising global investment destination.

PM taking charge of the office of the Prime Minister of India at South Block, in New Delhi on June 10, 2024. Photo Credit: PM India Media Gallery

PM taking charge of the office of the Prime Minister of India at South Block, in New Delhi on June 10, 2024. Photo Credit: PM India Media Gallery

Chetu Takes Gold in the 2024 Globee American Business Awards

Sunrise, FL, June 24, 2024 — Chetu, a global provider of software solutions and support services, proudly announces it is the recipient of the 2024 Gold Globee® American Business Award in the Achievement in Technology category.

The Globee® Awards are internationally recognized as the premier business awards program, encompassing 10 distinct programs and competitions.

“We are incredibly honored that the prestigious Globee® Awards have honored us once again,” said Atal Bansal, Founder and CEO of Chetu. “This achievement is a testament to our team’s dedication to exceeding client expectations and our unwavering commitment to remaining at the forefront of the software development industry.”

This latest honor marks Chetu’s fourth Globee® Award, adding to its previous Gold awards in Business Excellence and American Best in Business, along with a Silver in the Golden Bridge Awards.

Renowned for celebrating outstanding achievements across various sectors, the Globee® Awards recognized Chetu for its significant contributions and dedication to pushing the boundaries of what is possible. Chetu was selected from a highly competitive pool of entries, highlighting its dedication to excellence and commitment to delivering exceptional value to its clients.

“Recognizing these exemplary companies and leaders is crucial to promoting a culture of excellence and innovation within the business community,” said San Madan, President of the Globee® Awards, on its website. “Each winner has demonstrated exceptional commitment to their craft, setting a benchmark for others to follow.”

For 2024, Chetu has also received a Silver Stevie® in the American Business Awards and earned spots on CRN’s 2024 Solution Provider 500 and Tech Elite 250 lists. Chetu has also been a member for six consecutive years of the invite-only Forbes Technology Council.

Whatfix and Tech Mahindra Join Forces to Accelerate Adoption of Data-Driven Digital Solutions for Enterprises Globally

24th June 2024 Bangalore, Karnataka, India Whatfix, a global leader in digital adoption platforms (DAP), today announced a strategic collaboration with Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries. The collaboration will accelerate the adoption of data-driven digital solutions for enterprises globally.

Together, Whatfix and Tech Mahindra will help enterprises deliver personalized experiences and optimize application efficiency. This will enable enterprises to effectively measure and drive the value of their software investments and digital transformation strategies, ensuring the successful adoption of next-generation technologies. In addition, this collaboration will enable Tech Mahindra’s customers across industries to achieve significant business value outcomes, such as cost reduction, increased revenue, risk compliance, among other benefits.

Nikhil Malhotra, Global Head – Makers Lab, Tech Mahindra, said, “As enterprises navigate the complexities of today’s dynamic digital landscape, leveraging analytics-driven insights becomes imperative for staying ahead of the curve. In this direction, our collaboration with Whatfix will offer personalized user experiences and optimize enterprise applications to drive productivity and digital maturity. This collaboration underscores our commitment to helping enterprises scale at speed by embracing technology and leveraging tools for success in the digital era.”

Whatfix is recognized as a “Leader in DAP” as per industry reports from IDC, Gartner, Forrester, and Everest Group, among others. The company’s comprehensive product suite offers analytics (Product Analytics and Enterprise Insights), application simulation (Mirror), and adoption (DAP mobile, web, and desktop, and Hub). These products enable data-driven decisions, immersive training and onboarding, and seamless adoption with sustained effectiveness throughout the entire application lifecycle, which enhance user productivity and experience and accelerate ROI from the enterprise’s digital investments. For instance, Sentry saved $950K in training resources, Experian observed a 72% increase in productivity, REG experienced a 50% improved time to productivity, and Grifols saved $107,000 in reduced seller training and support costs using Whatfix.

“Our collaboration with Tech Mahindra reinforces our commitment to empowering organizations worldwide with data-driven digital adoption solutions, powered by AI and built on the foundation of userization to make technology user-savvy,” said Vispi Daver, Chief Revenue Officer at Whatfix. “Together, we will transform the way businesses embrace and leverage technology for enhanced efficiency and productivity at scale.”

This collaboration aims to drive global digital transformation and technological innovation, empowering enterprises with cutting-edge solutions to drive efficiency, enhance user experiences, and unlock unparalleled business value. Today, Whatfix’s data-driven product suite, powered by AI, offers an enhanced userized digital experience and supports 700+ customers, including 80 Fortune 500s across 40+ countries. Recently, Whatfix has been the only vendor to be recognized as the “Customer Choice” in Gartner’s Voice of Customer report.

Otipy’s New Index Offers Insights into Fruit and Vegetable Price Trends and Predictions

24th June 2024 New Delhi, Delhi, India Otipy, a leading player in the Indian agritech sector, has released a comprehensive analysis of per-kilogram prices for various fruits and vegetables. This analysis examines trends from March to May and offers predictions for market conditions from June to August. The Price Analysis Index provides crucial insights into price tendencies, helping stakeholders make informed decisions for the upcoming months.

Key highlights from the Price Analysis Index:

Price Analysis Index for fruits

The pricing dynamics within the fruits and vegetables sectors have revealed a noticeable correlation in recent months. Take, for example, the trajectory of Mango (Dasheri, Carbide-Free), where prices plummeted from Rs. 194/kg in April to Rs. 102/kg in May, projected to dip further to Rs. 86/kg in June before peaking at Rs. 100/kg in July. Similarly, Watermelon prices saw a decline from Rs. 44/kg in March, further dropping to Rs. 28/kg in April and Rs. 24/kg in May. Based on this trend, forecasts suggest an increase to Rs. 31/kg in June and further to Rs. 44–Rs. 48/kg in July and August.

The price of pomegranates has been on a rollercoaster, initially rising to Rs. 169/kg in March, then dropping to Rs. 175/kg, only to surge again to Rs. 211/kg in May. Forecasts suggest a further increase to Rs. 236/kg in July, followed by a drop to Rs. 172/kg in August. This trend reflects wider market volatility, mirrored by fruits like Papaya, which experienced slight fluctuations from Rs. 58/kg in May, projected to rise to Rs. 68/kg in June before sharply ascending to Rs. 73/kg in July, then dropping to Rs. 53/kg in August. Large Bananas maintained a steady trend around April but saw a slight decrease to Rs. 65/kg in May, expected to drop further to Rs. 58/kg in June before gradually climbing to Rs. 69/kg in July and Rs. 74/kg in August. This pattern highlights the growing demand for staple fruits regardless of the season.

The prices of Tender Coconuts saw a gradual increase to Rs. 62/kg in May, stabilizing at Rs. 65/kg from June to August, aligning with other essential fruits. Small Apples witnessed a notable price escalation from Rs. 200/kg in March and April, with projections indicating a further increase to Rs. 239/kg by August, making them increasingly preferable among consumers. Conversely, Imported Small Green Kiwis plummeted to Rs. 81/kg in May, and remained fluctuating around Rs. 85-Rs. 90/kg during the summer months, highlighting the impact of imports on the domestic market.

In the vegetable segment, onions fluctuated to around Rs. 40/kg in March and Rs. 33/kg in May. Expectations indicate stability within the Rs. 35-40/kg range from June to August, mirroring the supply and demand dynamics observed in the fruit markets.

Hybrid tomatoes exhibited significant price fluctuations, starting at Rs. 45/kg in May and dropping to Rs. 31/kg. Projections suggest a rise to Rs. 41/kg by June, with an anticipated peak of Rs. 90/kg in August. French beans followed a similar pattern, with prices at Rs. 92/kg in March, Rs. 111/kg in April, and Rs. 89/kg in May, dropping to Rs. 69/kg in June, before rising to Rs. 97/kg in July and peaking at Rs. 115/kg in August. Ginger, known for its frequent price fluctuations, is expected to reach a peak of Rs. 247/kg in August.

The price trends for lemons exhibited a gradual increase, rising to Rs. 217/kg in May, peaking at Rs. 284/kg in July, before gradually declining to Rs. 182/kg in August. Similarly, okra prices followed a similar pattern, dropping to Rs. 78/kg in May, and reaching a low of Rs. 50/kg in June and August. Premium red and orange carrots experienced consistent market demand, with prices increasing from Rs. 43/kg to Rs. 45/kg between April and May, and slightly rising to Rs. 55/kg in August.

Button mushrooms saw a steady escalation in prices, climbing to Rs. 222/kg in May, and further increasing to Rs. 275/kg in August. Conversely, seedless cucumbers experienced price variations, dropping to Rs. 41/kg in May and approximating Rs. 55/kg in August.

In the vegetable market, the long bottle gourd (lauki) rose to Rs. 44/kg by May and is expected to further increase to Rs. 57/kg in August. Similarly, green capsicum declined to Rs. 66/kg in May but is forecasted to rebound to Rs. 88/kg in August. Meanwhile, potatoes exhibited moderate price stability, rising to Rs. 31/kg in May, with prices expected to remain around Rs. 35-36/kg in the coming months, reflecting consistent demand for this staple vegetable throughout the year.

According to Varun Khurana, CEO of Otipy, “We remain committed to empowering both farmers and consumers with valuable insights into the fluctuating dynamics of the agricultural market. Our comprehensive analysis sheds light on the intricate price movements of fruits and vegetables, providing stakeholders with the knowledge needed to navigate through market volatility effectively. Through this endeavor, Otipy reaffirms its dedication to fostering a fair and sustainable agricultural ecosystem in India, ensuring equitable opportunities for all involved.”

This corroborates the fact that changes in demand and supply are pivotal to the fruits and vegetables market characterized by consistent price changes in line with the market and seasonal changes. While often the price of certain fruits such as mango, and watermelons has seen the normal trend of having lower prices during times of high supply of the produce, other commodities like onions, tomatoes and ginger have seen their prices change sharply due to unpredictable fluctuations in supply and demand. Nevertheless, certain items such as bananas, tender coconuts and potatoes show the least fluctuation in demand and have some reasonable price variations. It also accentuates the need to have a broader perspective of various price fluctuations in the sector while noting the tricky issue of consumers’ demand and seasonal supply.

Gautam Buddha University and Compass Group India Celebrate ERC Certification by FSSAI

24th June 2024 Greater Noida, Uttar Pradesh, India The Gautam Buddha University (GBU), Greater Noida, supported by Chartwells – Compass Group India is proud to announce its esteemed recognition of the Eat Right Campus (ERC) Certification by the Food Safety and Standards Authority of India (FSSAI). The ‘Eat Right Campus’ initiative led by FSSAI aims to promote safe, healthy, and sustainable food in campuses across the country to improve the health of people and the planet.

Prof. Ravindra Kumar Sinha, Vice-Chancellor, Gautam Buddha University, and Mr. Ashwani Vohra, CEO – Food Services, Compass Group India

This achievement signifies GBU’s commitment to providing safe, nutritious, and high-quality meals to its students and staff, significantly impacting their well-being.

Chartwells by Compass Group India, GBU’s food service partner, played a pivotal role in securing the ERC certification. The group’s expertise in implementing robust food safety measures, curating balanced and nutritious menus, and ensuring the highest standards of hygiene in food preparation and service proved instrumental in this success.

Mr. Vikas Chawla, Managing Director at Compass Group India, expressed his enthusiasm about the achievement and stated, “Right from high-quality sourcing to health, safety, environment and quality processes (HSEQ) across the value chain to meticulous staff training, balanced menu planning, and technology-driven interventions, we follow global best practices. The prestigious ERC certification is a validation of that commitment.”

Commenting on the achievement, Mr. Ashwani Vohra, CEO – Of Food Services, Compass Group India, said, “We are deeply passionate about nourishing young minds and supporting the well-being of the entire academic community by providing fresh and high-quality meals. Receiving the prestigious ERC certification reaffirms our dedication to excellence in providing safe, nutritious, and balanced meals. Our cherished partnership with Gautam Buddha University in its journey towards achieving the Eat Right Campus Certification reflects our shared dedication to prioritizing the health and wellness of all stakeholders. It is a very proud moment for all of us.”

The ERC certification program acknowledges educational institutions that prioritize food safety, and hygiene and offers a food solution focussed on the holistic development of their student community. GBU, renowned for its academic excellence, reinforces its dedication by working hand-in-hand with Chartwells to implement robust food safety protocols, ensuring all meals served adhere to the highest FSSAI standards.

Prof. Ravindra Kumar Sinha , Vice – Chancellor, Gautam Buddha University stated, “At Gautam Buddha University, we strongly believe that providing nutritious meals is fundamental to supporting their academic journey, physical and mental health and the overall campus experience. Earning the Eat Right Campus Certification is a significant step towards nurturing our students’ holistic well-being. We appreciate the dedicated efforts of Chartwells in achieving this milestone together. This distinguished recognition motivates us to continuously improve and offer a vibrant campus environment that prioritises both intellectual and physical nourishment. We are committed to continually improving the campus experience and ensuring the safety of our students. We eagerly await students from all corners of India to join us in this educational revolution.”

Understanding the crucial role nutrition plays in student health and academic performance, Chartwells curates balanced, and nutritious meal plans that cater to the diverse dietary needs of students. A robust supply chain that focuses on high quality, seasonal, and regional supplies, technology intervention to ensure adherence to HSEQ best practices and processes, and continued investment in talent development play a crucial role in achieving this milestone.

GBU and Chartwells are dedicated to maintaining the highest levels of cleanliness and safety throughout the entire food preparation, and serving process and through state-of-the-art kitchen facilities.

Together, GBU and Chartwells set a benchmark for creating a culture of health and wellness on campus. The ERC Certification serves as a key milestone in their shared journey towards providing a safe, secure, and nourishing dining experience for the entire university community.

Mrs. World International 2024: Celebrating Empowerment and Excellence of Married Women

24th June 2024 Chennai, Tamil Nadu, India Orchestrated by the visionary Barkha Nangia and Abishek Nangia, founders of Glamour Gurgaon, Mrs. World International 2024 celebrated the diverse achievements of married women worldwide. The event featured around 140 contestants divided into two groups and took place at the splendid Leela Ambience in Gurgaon on June 1st 2024.

Amudha Subramanian

Under Barkha Nangia’s guidance, the event recognized the invaluable contributions of married women to their families and communities, while empowering them to pursue their passions. Esteemed guests from the fashion and entertainment industries added to the night’s unparalleled glamour and sophistication.

The grand finale, the culmination of rigorous global auditions, showcased participants’ confidence, stage presence, and runway skills. Contestants underwent four days of intensive grooming and training sessions before the finale. The event also highlighted Glamour Gurgaon’s commitment to social responsibility, particularly breast cancer awareness through annual camps and free medical check-ups for underprivileged women, supported by volunteer doctors.

Tamil Nadu’s Amudha Subramanian, claimed the prestigious title of Mrs. World Harmony, embodying resilience, determination, and perseverance.

Other winners included Shraddha Vadalia (Group A) and Anuradha Gupta (Group B), alongside distinguished titleholders such as Saumya Shree (Mrs. World Unity), Dr. Chandrika Gunturu (Mrs. World Peace), and Nithanya (Mrs. World Peace).

Dr. Amudha Subramanian’s Journey of Perseverance:

In the grand theatre of life, where the spotlight often shines on the moments of triumph and celebration, there exists a silent yet profound narrative of resilience, courage, and unwavering determination.

Dr. Amudha Subramanian, a dental graduate, currently serves as a Human Resources professional at Star Health Insurance Company in Chennai and an aspiring executive management professional at IIM Raipur. She embraced the management program at IIM as a thirst for knowledge knows no bounds, igniting a passion for lifelong learning that fuels her journey forward.

Her journey is not just a personal odyssey but a testament to the indomitable spirit of womanhood, fueled by the unwavering support of her lovely husband, son, mother (a cancer survivor whose resilience serves as a guiding light in her path), sister, blessings from her late father, her father in law and mother in law and the workplace mentor Mr. Surendhar VP-HR, and IIM Raipur faculty members – IIM Raipur Director. Prof. Ram Kumar Kakani and Chairperson (eMBA) – Prof. Dhananjay Bapat and Gym Proprietor & Head Coach Mr. Gokul Srinivasan, personal trainer Mr. Bharath Radhakrishnan.

Balancing academia, caregiving, and her career, she excelled in dance, oratory, and swimming while maintaining her fitness routine.

With her victory, she aims to underscore that age should never be a barrier. Through steadfast perseverance and unwavering determination, she has achieved significant milestones as a working mother, devoted daughter, and graduate of IIM. For optimal success, there’s nothing more vital than excelling in multiple domains.

Dr. Amudha’s story reflects the superpowers of marriage and motherhood, proving that with support and determination, women can reach unimaginable heights.

Goa Carbon Limited Introduces “gcarb+” to Revolutionize the Recarb Business

24th June 2024 Panaji, Goa, India “gcarb+” Offers High-Quality, Sustainable Carbon Solutions for the Steel and Foundry Sectors.

Launch Event Highlights Commitment to Innovation and Environmental Responsibility.

Goa Carbon Ltd., one of the oldest and leading manufacturers of calcined petroleum coke (CPC), proudly announces the launch of its first branded product, “gcarb+” aimed at revolutionizing the recarburiser & carbon additive markets.

From left to right – Mr. Shrinivas Dempo, Chairman, Dempo Group of Companies & Anupam Misra, Executive Director, Goa Carbon Ltd.

With manufacturing units strategically located across India, Goa Carbon Limited serves largely to the Aluminium, Steel, and Foundry sectors. Continuing its legacy of excellence, the new brand “gcarb+” highlights the company’s commitment to quality, sustainability, and industry leadership with an intent to provide ‘Total Carbon Solutions’.

“gcarb+” stands out for its superior quality and is derived from the finest raw materials sourced globally. The product comes with guaranteed specifications, including low sulfur content, significantly reducing harmful emissions and supporting environmental sustainability. “gcarb+” is a high-performance carbon raiser/additive, meeting the specific requirements of the primary and secondary steel manufacturers and foundry industries.

The brand launch event was attended by Mr. Shrinivas V. Dempo, President – Goa Chamber of Commerce and Industry (GCCI) and Chairman of Dempo Group of Companies, Mr. Anupam Misra, Executive Director of Goa Carbon Limited along with other senior officials of Dempo Group and all the three units. The unveiling of the “gcarb+” logo and brand was a significant moment, symbolizing the company’s forward-looking vision and commitment to innovation.

Mr. Shrinivas V. Dempo congratulated the entire Goa Carbon team for launching their first branded offering and applauded the initiative to offer differentiated and superior solutions for the ‘Recarb’ industry. He highlighted the core values of Dempo group i.e. Integrity, Fairness, Solicitude, Teamwork, Innovation and Social Responsibility, and was happy to learn that the brand’s philosophy is aligned with our core values.

Mr. Anupam Misra highlighted that the introduction of “gcarb+” marks a significant milestone in Goa Carbon Limited’s illustrious journey. “Goa carbon has been one of the most trusted names in the recarb industry and it was incumbent upon us to bring in creative and innovative solutions for the recarb industry. We would also like to start offering need-based value added services apart from supplying only CPC. This is in line with our vision to be the total carbon solution provider to the industry. The new brand is set to redefine industry standards, offering a blend of quality, performance, and value added services that strengthens Goa Carbon Limited’s market leadership.”

IIFL Portfolio Company Xtracap Unveils Instant Disbursal for E-Invoice, UPI Moment for SCF: Transforming Indian Fintech Landscape

24th June 2024 Mumbai, Maharashtra, India In a groundbreaking move set to revolutionize the Indian Fintech industry, Xtracap, a IIFL portfolio company proudly announces the launch of E-Invoice Enabled Instant Disbursements, marking a significant milestone in Supply Chain financial technology innovation.

For the first time in the Indian Fintech sector, Xtracap has unveiled a cutting-edge technology that can scan E-invoice data, do real-time validation, and enable lightning-fast disbursements for anchors. The supply chain partners of the on-boarded anchors can benefit from this seamless experience. This pioneering advancement is poised to elevate process efficiency within the Supply-Chain Finance Ecosystem, a sector that Xtracap Fintech passionately serves.

Xtracap CEO Mr. Riaz Mohammed said, “At Xtracap, we are committed to spearheading technological innovations that proactively address future challenges. While the adoption of E-Invoicing is still in its infancy across Indian industries, we have already implemented E-Invoice-based financing following a successful test run.”

This latest fintech innovation is anticipated to catalyze a transformative shift in the operational dynamics of the supply-chain finance ecosystem in India.

Ms. Mehekka Oberoi, Fund Manager at IIFL Fintech Fund said, “We are thrilled by this new initiative of our investee company Xtracap Fintech, the near instant disbursement for a credit product will re-imagine the delivery of working capital credit to MSMEs, with just in time finance, MSMEs can create a better bargaining position and improve their profitability.”

Xtracap’s E-Invoice Enabled Instant Disbursements represent a watershed moment in the Indian Fintech landscape, underlining the company’s unwavering commitment to pioneering innovation and driving positive change. This UPI-like experience for MSMEs may democratize and transform the way receivables are financed in supply chain finance.

Korea-India Economic Co-op Forum Held in Hyderabad to Boost Investment in Telangana

24th June 2024 Hyderabad, Telangana, India The Korea-India Economic Cooperation Forum successfully took place in Hyderabad, fostering enhanced industrial collaboration between the two nations. While inviting Korean companies to invest more in Telangana, the state government not only promised state-of-the-art infrastructure and talent pool, it also offered a dedicated mechanism to handhold Korean investments. The Telangana government promises world-class infrastructure and talent pool and rolls out the red carpet for Korean companies, inviting them to invest more in the state.

(L-R) Ambassador Chang Jae-bok, Duddilla Sridhar Babu, Minister of Information Technology, Electronics & Communications (ITE&C) and Industries & Commerce (I&C), Telangana

Organized by the Embassy of the Republic of Korea, KOTRA (Korea Trade-Investment Promotion Agency), the India-Korea Business Cooperation Center, and the Honorary Consulate General of the Republic of Korea in Hyderabad with the support of the Confederation of Indian Industry (CII), the event aimed to boost cooperation in various sunrise industries and provided ample opportunities for business networking.

Speaking on the occasion, Duddilla Sridhar Babu, Minister of Information Technology, Electronics & Communications (ITE&C) and Industries & Commerce (I&C), Telangana, said, “To address specific needs of the Korean companies, the state government not only offers the state-of-the-art infrastructure and talent pool, it will also have a dedicated desk under Invest Telangana Cell to handhold Korean investments and provide single window service.”

The minister said, “Because of the KOTRA support, the interest of Korean companies increased in manufacturing, technology, semiconductors, and life sciences sectors. I invite KOTRA to set up its office in Telangana also.”

Chang Jae-bok, the Ambassador of the Republic of Korea, said that over the past decade, we have witnessed successful implementation of India’s initiatives like ‘Make in India,’ ‘Self-reliant India,’ and ‘Act East.’ “These policies have significantly deepened the bilateral relationship between Korea and India, with trade volumes reaching an all-time high of $27.8 billion in 2022. Major Korean companies such as Samsung, Hyundai, LG, and Kia, along with MSMEs, are actively expanding their investments in India, further strengthening our economic ties,” he added.

In his welcome address, C. Shekhar Reddy, immediate past chairman, CII Telangana, and CMD, CSR Estates Ltd., said, “South Korean companies have been actively investing in Telangana, leveraging the state’s industrial growth and strategic advantages. This is exemplified by companies like Samsung, which has established a significant manufacturing presence in the region.”

Suresh Chukkapalli, the Honorary Consul General of the Republic of Korea in Hyderabad, said in India, South Korea continues to dominate some of the sectors that have become household names—Hyundai, KIA, Samsung, etc. In Telangana in the last few years, some of the major Korean brands, such as YoungOne, have moved here. Korean semiconductor company APACT is launching a JV project with ASIP in Hyderabad.

Dr. E Vishnu Vardhan Reddy, Special Secretary for Investment Promotion & External Engagements and VC&MD TSIIC Govt of Telangana, discussed Telangana’s industrial ecosystem and investment policy.

While presenting a Korea-India Economic Cooperation Plan, Ms. Jeongseon Lee, Executive Director of the India-Korea Business Cooperation Center at KOTRA, said, “Major transformations are taking place in the global value chain, and these changes can potentially lead to new prospects for collaboration between India and Korea. For example, global companies are expanding their GCC presence, notably in Hyderabad, to leverage India’s IT talent. These GCCs are not only playing key roles in back-office operations but are also serving as important innovation centers. Several Korean companies have already followed suit to benefit from these advantages. I hope more companies will join these movements in the coming days.”

The forum featured several sessions on successful collaboration cases across different industries. Sanjeev Deshpande, MD & CEO of NTT Data Business Solutions, shared insights on IT collaborations. The semiconductor industry was represented by Venkata Simhadri, CEO of ASIP Technologies. Further presentations were made by Balaji Prabakaran, Head of Product Planning Department at Hyundai Motor India Engineering, and Jayesh Sanghvi, Partner at Ernst & Young, who highlighted other successful collaboration cases.

The forum concluded with a networking dinner, providing participants the opportunity to establish communication channels and explore potential business partnerships. This event marked a significant step forward in strengthening the economic ties between Korea and India.