21, Dec 2023
BPCL’s Kochi Refinery forges ahead with a Rs. 5044 Crore Investment in Polypropylene Production
Mumbai, 21st December 2023: Bharat Petroleum Corporation Limited (BPCL), a Fortune Global 500 Company and a Maharatna Energy Conglomerate, proudly announces a groundbreaking initiative aimed at shaping a sustainable future. With an investment of Rs. 5,044 Crore, BPCL is set to establish a Polypropylene (PP) Unit at Kochi Refinery, responding to India’s burgeoning demand for petrochemicals.
This visionary project leverages the abundant Propylene feedstock at Kochi Refinery, marking a significant milestone in reshaping the petrochemical industry landscape. The Polypropylene Unit, boasting a production capacity of 400 Kilo-Tonnes Per Annum, is strategically designed to meet market demands and reinforces BPCL’s commitment to downstream industries.
Shri G Krishnakumar, C&MD, BPCL, shared “Our Rs. 5,044 Crore investment in the Kochi Refinery’s Polypropylene Unit is part of our strategic commitment towards a sustainable future. Addressing India’s petrochemical demand, this project will reshape the industry, meeting the requirements for Packaging Films, Containers and more.”
Polypropylene, a versatile material, finds applications in Packaging Films, Sheets, Boxes, Containers, Bags, Home Ware, Home Care, Personal Care, and everyday articles. The project is slated for completion in approximately 46 months, signaling BPCL’s dedication to driving innovation and meeting the evolving needs of the market.
This initiative builds upon BPCL’s existing capabilities, with the operation of a Propylene Derivative Petrochemical Plant (PDPP) at Kochi Refinery. PDPP has been instrumental in producing critical import substitutes, including acrylic acid, acrylates, oxo-alcohol, and other niche petrochemicals. Notably, PDPP was dedicated to the nation by the Hon’ble Prime Minister Shri Narendra Modi in February 2021, underscoring BPCL’s commitment to the vision of Atma Nirbhar Bharat.
As BPCL takes this momentous step towards a sustainable future, the company remains steadfast in its mission to contribute to India’s economic growth, promote self-reliance, and advance the petrochemical industry. This endeavor aligns with the broader objectives of Atma Nirbhar Bharat, reflecting BPCL’s commitment to driving positive change and fostering a resilient and self-sufficient nation.
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- By Rabindra
20, Dec 2023
New Passive Funds tracking Nifty Indices launched in Japan and Korea
In the calendar year 2023, seven new Passive funds (ETFs/Index Funds) tracking Nifty Indices were launched in Japan and Korea. Six products are tracking Nifty 50 and 1 product is tracking Nifty50 2x leverage index. These new products have garnered Assets under Management (AUM) of about USD 550 million.
| Sl. No. | Issuer Name | Country of Listing | Index Name |
| 1 | Daiwa Asset Management | Japan | Nifty 50 |
| 2 | NZ Asset Management | Japan | Nifty 50 |
| 3 | au Asset Management | Japan | Nifty 50 |
| 4 | Sumitomo Mitsui Trust Asset Management | Japan | Nifty 50 |
| 5 | Mirae Asset Global Investments | Korea | Nifty 50 |
| 6 | Samsung Asset Management | Korea | Nifty 50 |
| 7 | Samsung Asset Management | Korea | Nifty50 2x Leverage |
Presently, there are 21 Passive funds tracking Nifty Indices outside India. These products have been launched by large global asset managers including iShares Blackrock, DWS, First Trust, Nomura Asset Management, Mirae Asset Global Investments, Samsung Asset Management, Fubon Asset Management, Global X, Kiwoom Asset Management etc. In addition, there are 270 Passive funds tracking various Nifty Indices in India.
In the last ten years, the total AUM of Passive Funds tracking Nifty Indices in India and outside India has increased to about USD 70 billion in November 2023 from about USD 1 bn in November 2013, growing at a staggering annualized rate of 53%.
Shri Ashishkumar Chauhan, MD & CEO, NSE, said: “Investment by large global asset managers is growing in India, given the performance of our economy and favourable demographic profile. I would like to thank them for showing trust and confidence in the Indian Capital Markets. I would also like to extend my sincere gratitude to the Government of India and market regulator, Securities Exchange Board of India (SEBI), for enabling market friendly policies. With focused efforts of all the stakeholders and expected robust performance of the economy, we will surely progress towards achieving many more milestones in future.”
Shri Mukesh Agarwal, MD & CEO, NSE Indices, said: “We are seeing a strong demand from global asset managers for launching India-focused passive products. 2023 has been a historic year for NSE Indices with seven passive products launched outside India on Nifty indices during the year and they also garnered good AUM. We expect this trend to continue and many more India focused passive products are expected to be launched outside India in 2024 as well. We will continue to work with our clients to launch innovative India focused indices for launch of passive products.”
20, Dec 2023
Smart India Hackathon 2023 Inaugurated at MIT by Vice Chancellor: A Pioneering Endeavor for Innovation and Social Impact
Bengaluru, December 21st, 2023 – The Smart India Hackathon 2023, organized by the Ministry of Education, Government of India, and the Institutions Innovation Council at Manipal Institute of Technology (MIT), Manipal, commenced with a grand inauguration ceremony. The event was graced by the presence of Lt General Dr. MD Venkatesh, Vice Chancellor of MAHE, who delivered an inspiring address.

During his speech, Lt General Dr. MD Venkatesh emphasized the profound impact of the educational institutions founded by Dr. TMA Pai 75 years ago. These institutions were established with the noble mission of addressing key societal challenges such as illiteracy, poverty, and ill health. He highlighted that the United Nations’ sustainable development goals of 2017 align closely with Dr. Pai’s vision. The region of erstwhile South Canara, where these institutions are located, saw remarkable progress with high-quality healthcare services, low infant mortality rates, maternal mortality rates, and high literacy rates, setting a benchmark for the nation.
Lt General Dr. Venkatesh also echoed the words of the Prime Minister, recognizing the potential of Indian youth to solve global issues. He welcomed participants from across the country to MIT, known for its warm hospitality, meticulous planning, and welcoming spirit. The Smart India Hackathon 2023 will focus on finding innovative solutions to problem statements provided by the Ayush department, Gujarat government, and Kerala government. A total of 22 teams hailing from various states, including Tamil Nadu and Gujarat, have converged at MIT for this intensive five-day hackathon.
Highlighting MIT’s commitment to quality education, Lt General Dr. Venkatesh expressed gratitude to the Ministry of Education, AICTE, and the innovation council for recognizing MIT’s capabilities. He encouraged the participants to develop solutions that have a lasting impact and the potential to contribute to the betterment of humanity. He also mentioned the possibility of some solutions being directed towards the medical device development hub funded by the Government of India.

Dr. Anil Rana, Director of MIT, Dr. Cyril Joseph, Single Mode of Contact, Kamal Singh and Poonam, Assistant Directors from the AICTE Education Ministry, Dr. Somashekhar Bhat, Joint Director of MIT, and other dignitaries were present at the inauguration ceremony.
The Smart India Hackathon 2023 promises to be an exciting platform for young innovators to collaborate, ideate, and develop transformative solutions that address real-world challenges. MIT, as one of the nodal centers, remains at the forefront of fostering innovation and excellence in education, contributing to India’s development.
20, Dec 2023
Mysore Saree Udyog unveils spectacular new flagship store in Hyderabad at Jubilee Hills
Bangalore, 21st December 2023: Mysore Saree Udyog, a pioneer among India’s ethnic wear brands with a rich legacy of catering to an extensive consumer base in Bangalore, has announced the opening of its new flagship outlet in Hyderabad. Located in Jubilee Hills, this store is a significant milestone that further underscores the brand’s commitment to timeless elegance, impeccable craftsmanship, and the preservation of traditional weaves.

Spanning 15,000 square feet across four floors, the new store proudly showcases an exquisite array of pure silk sarees, lehengas, fabrics, ready-to-wear, unstitched suits, salwar kameez, and dupattas. These offerings seamlessly blend traditional and contemporary styles, catering to every occasion. The uniqueness of these collections arises from in-house design interventions, facilitating the creation of exclusive, high-quality products. Additionally, every fabric available at the store can be authenticated through on-site real-zari testing and Silk Mark certifications, affirming the true value of the offerings.
Aligning with its Bangalore counterpart, the Hyderabad store assures a unique price match guarantee and diverse customer service options via WhatsApp commerce and video call shopping. Embracing its global acclaim, the brand pledges an engaging and personalized shopping experience, both online and offline. More than just a retail space, the new outlet represents a commitment to surpassing expectations and delighting even the most discerning consumers in the city.

Commenting on the expansion, Kamlesh Talera, one of the founders of Mysore Saree Udyog, said, “Nestled in the heart of Hyderabad and surrounded by picturesque neighborhoods, this area exudes a timeless charm – much like our brand. With a legacy spanning four distinguished decades, we strive to keep up with the trends without compromising on our core DNA anchored in transparency, superior quality, and customer satisfaction. We are excited to enter a new market that resonates with our values, appreciates craftsmanship, rich heritage and reinforces our dedication to offering unparalleled elegance and service.”
Since its inception in 1982, Mysore Saree Udyog has embarked on a journey of preserving the heritage of Indian textiles by supporting the craftsmanship of over 3000 artisans across the country. The brand has remained an emblem of sophistication, representing a cultural cornerstone for ethnic wear and saree aficionados. As it expands beyond Karnataka, the brand is poised to fortify its offline retail footprint, bringing its legacy of elegance and tradition to new horizons.
20, Dec 2023
Kimutai Timon and Roba Beti Hailu clinch Top Honors for overall Men and Women Category at the 16th Edition PhonePe Bengaluru Midnight Marathon 2023
Bengaluru, December 20, 2023: Rotary Bangalore IT Corridor (RBITC) proudly announces the successful conclusion of the 16th edition of the PhonePe Bengaluru Midnight Marathon on Sunday at KTPO, Whitefield. This year witnessed record participation – 10,000+ Runners from 19 countries and 21 states of India.
In the Overall Men’s Category, Kimutai Timon from Kenya won in the well-contested full marathon, demonstrating unparalleled skill and achieving a time of 2 hrs 29 min. Roba Beti Hailu from Ethiopia performance in the Women’s Full Marathon was equally astounding, as she won the coveted title with a timing of 3 hrs 10 min 15 sec. In the India Men category, Iran Ali won the Marathon in 2:34:59. Aasa TP won in 3:11:25 in the India women category.

With great pleasure, the Rotary Bangalore IT Corridor congratulates all of the winners and participants who made the 16th PhonePe Bengaluru Midnight Marathon a huge success. The occasion embodied the basic principles of Rotary and promoted a healthier, more active society by celebrating sports while also fostering a sense of community and health consciousness.
Commenting on the success, Ritesh Bindal, Chairman, BMM, said, “The PhonePe Bengaluru Midnight Marathon has always honored tenacity, willpower, and the unwavering spirit of our running community. I am motivated by the remarkable efforts of each and every participant who took on the Night challenge as we come to the end of the 16th edition. This year, we witnessed around 10,000+ runners across 21 states and 19 countries, with 27% women runners’ participation. This marathon is a shining example of community and health because of the participants’ dedication to fitness and the spirit of friendship that permeates the event. We look forward to many more years of building a culture of well-being and unity.”
The Bengaluru Midnight Marathon witnessed a spectacular exhibition of corporate camaraderie, dedication, and tenacity in the much-awaited Relay events, where both seasoned corporate teams and start-ups competed with energy and passion. In the Airbus Corporate Relay Race, Team TITAN emerged as the clear winners with a time of 1:34:28, followed by Team HPCL I with the timing 1:45:51 and Team Novo Nordisk I with the timing 1:46:15 in second and third place respectively. In the Prime VP #FittestStartupChallenge Relay Race, Team CRED A won with a timing of 1:32:37, followed by Team CRED B with the timing 1:38:16, and Team Myelin Foundry coming in third with timing of 2:03:15
Organized by the Rotary Bangalore IT Corridor (RBITC), the first edition of the Bengaluru Midnight Marathon was held on May 19, 2007, and has seen increasing participation every year since.
20, Dec 2023
Royal Orchid Hotels expands footprint in Andhra Pradesh
Bangalore, 20th Dec 2023: Continuing its effort to spread its wings across the country, Royal Orchid & Regenta Hotels has added yet another luxury offering to its ensemble as it opens a stunning new property – the Regenta Inn Bhavani – in the vibrant city of Nellore.
Positioned as a beacon of opulence, Regenta Inn Bhavani stands out as the epitome of luxury for discerning travellers. Strategically located just minutes away from the central bus stand, 15 minutes from the central train station and a 3-hour drive from Tirupati Airport, and an 8-hour drive from Bengaluru, the property seamlessly blends traditional charm with contemporary amenities, reflecting the city’s rich heritage and progressive ethos.
Chander K Baljee, Chairman and Managing Director of Royal Orchid & Regenta Hotels, stated, “Our mission is to provide an unparalleled experience for all our guests, whether for business or leisure. Every aspect of Regenta Inn Bhavani has been crafted as a testament to Nellore’s dynamic, inspiring, and welcoming spirit.”
Nestled on the banks of the Penna River, Nellore is known for its blend of tradition and modern dynamism. With geographical proximity to Bengaluru, it serves as a strategic getaway for Bleisure travellers. The city’s fabric is woven with spirituality, featuring numerous temples for those seeking tranquillity. Nellore is also a haven for retail therapy, showcasing intricate craftsmanship and traditional artistry through the popular Venkatagiri sarees, emblematic of the region’s rich textile legacy.

Regenta Inn Bhavani, with its 41 rooms, including six lavish suites, is ideally situated near landmarks such as Mypadu Beach, Sri Ranganathaswamy and Penchalakona Temples, and a short walk from the City Shopping Area, offering a convenient retreat for visitors seeking cultural experiences and shopping indulgences.
Philip Logan, COO of Royal Orchid & Regenta Hotels, commented, “We have curated an experience that resonates with Nellore’s pulse and meets the discerning needs of our guests. Our commitment extends beyond luxury accommodation; it’s about fostering a connection with local heritage, seen in the artistry of Venkatagiri sarees, and providing a platform for local talent to shine. This synergy of local culture, strategic location, and our dedication to service excellence culminates in memorable and meaningful experiences.”
Regenta Inn Bhavani caters to a variety of occasions with versatile spaces, making it an excellent choice for MICE. The pillar-less banquets ensure memorable events with bespoke décor that leave a lasting impression.
The all-day dining restaurant, Burgundy, skillfully draws on the cultural tapestry of Nellore, offering a diverse menu featuring local Andhra cuisine, continental, and oriental dishes prepared with fresh local ingredients. As a 100% non-smoking zone, the hotel serves as a significant local employment generator, with many local talents contributing in various roles.
Whether for leisure seekers enchanted by the city’s historical depth or business travellers, Regenta Inn Bhavani promises an experience that embodies luxury, convenience, and the assurance of unforgettable moments.
20, Dec 2023
Gaja Capital Business Book Prize 2023 Awarded to ‘Against All Odds: The IT Story of India’ and ‘Winning Middle India: The Story of India
Bengaluru, December 20, 2023 – Against All Odds: The IT Story of India, a chronicle of the trials, triumphs, and history of the Indian IT sector over the last six decades, and Winning Middle India: The Story of India’s New-Age Entrepreneurs, a detailed account of the new generation of startup founders who are catalysts for innovative products and services in India, have been announced as the joint winners of the Gaja Capital Business Book Prize 2023.
The winners were selected from a diverse and compelling set of 50 nominated books from over 35 publishers, showcasing the expanding pantheon of Indian business literature. Instituted in 2019 by Gaja Capital, a leading Indian private equity firm, the Gaja Capital Business Book Prize aims to encourage Indian entrepreneurs, writers, and journalists to tell their stories to the world. It offers the largest book prize in the country, INR 15 lakh in prize money, to reward and support authors and promote high-calibre business research that would encourage and equip upcoming business owners and young entrepreneurs.

While announcing the winners, Gopal Jain, Co-Founder and Managing Partner, Gaja Capital said, “The 2023 shortlist showcased a rich tapestry of inspiring stories from diverse backgrounds. These books vividly depict the unwavering spirit of Indian entrepreneurship, highlighting the transformative impact of hard work, innovation, and risk-taking. It was a challenging decision to select two joint winners among such outstanding candidates. ‘Against All Odds’ and ‘Winning Middle India’ truly embody the essence of Indian entrepreneurial excellence and celebrate India’s continued success in IT services, while also recognizing the huge potential and promise of our young start-up ecosystem. We hope these narratives will ignite the passion of the next generation of entrepreneurs, inspiring them to rise, innovate, and leave their mark on the world”
The jury for the fifth edition of the Gaja Capital Business Book Prize comprised stalwarts from the worlds of industry, investments, academia, public policy, and governance: Manish Sabharwal, Vice-Chairman at TeamLease (Chairman, Jury), Imran Jafar, Managing Partner & Co-Founder at Gaja Capital, Arindam Bhattacharya, Senior Advisor and Emeritus Partner of Boston Consulting Group, Dr. Lakshmi Venu, MD of Sundaram-Clayton (SCL), Dr. Sangita Reddy, Joint Managing Director of Apollo Hospitals, Michael Queen, Former Chief Executive of 3i, Neelkanth Mishra, Chief Economist, Head of Global Research, and member of the Board at Axis Capital, Prithvi Haldea, Founder Chairman of Praxis Consulting, Shailesh Haribhakti, Founder and Managing Partner of Shailesh Haribhakti & Associates Chartered Accountants, and UK Sinha, Former Head, RBI Expert Committee on Micro, Small, and Medium Enterprises (MSMEs) and Former Chairman of SEBI.
The jury process began with creating a short list of 5 books from a select long list of ten books. The other books from the 2023 shortlist consisted of a range of stories of enterprises and their protagonists including:
· Capture the Dream: The Many Lives of Captain C.P. Krishnan Nair (by Bachi Karkaria)
· Essentially Mira: The Extraordinary Journey Behind Forest Essentials (by Mira Kulkarni)
· The Tech Phoenix: Satyam’s 100-Day Turnaround (by T.N. Manoharan & V. Pattabhi Ram)
Jury Citation
‘Against All Odds: The IT Story of India’ encapsulates the profound saga of the Indian IT industry. This book delves into the industry’s remarkable journey, marked by challenges conquered, resilience unwavering, serendipity harnessed, foresight honed, and meticulous planning executed over the span of six decades. Distinguished by its objectivity and sharp acumen, this chronicle meticulously weaves together the firsthand accounts of over fifty distinguished individuals who have indelibly shaped the landscape of the Indian IT industry.
‘Winning Middle India: The Story of India’s New-Age Entrepreneurs’ examines the exciting potential for enhancing the accessibility, affordability, and quality of products and services for millions of Indians. At its heart lies a new generation of startup founders who are capitalizing on technology platforms, the ubiquitous reach of smartphones, and the rapid digitization of the Indian consumer sphere. These forward-thinking entrepreneurs, unburdened by the past, are drawn to the immense opportunities presented by Middle India—a demographic encompassing the next 400-500 million Indians, positioned just below the apex of the economic pyramid. The book chronicles this highly potent force of change sweeping across India, providing invaluable insights into the strategies required to harness it and to contribute to the transformation of the nation’s destiny.
20, Dec 2023
Shri Ram Nath Kovind Presented with a Unique 84 Shiv Lingam Portrait by Ace Photographer, Varun Joshi
New Delhi, December 20, 2023: Former Hon’ble President of India, Shri Ram Nath Kovind was presented with a masterpiece Shiva Lingam clicked, visualized and created by ace photographer, Varun Joshi at his residence on December 15th. The Shiva Lingam portrait is an amalgamation of 84 lingas clicked across Ujjain. Sri Kovind was impressed by the work and complimented photographer Varun Joshi on his creativity.

Varun Joshi travelled to all 84 temples across Ujjain to create this unique Shiva Lingam with 84 lingas stitched together it took a couple of months for me to capture all Shivling followed by 3 months to bring out this masterpiece. This impressive pictorial representation of the Shivling takes viewers into the rich heritage of our country and brings the country’s historical details to the fore.
According to the Skanda Purana, it is believed that once a person gets a glimpse of these 84 lingas together, the soul is free from the cycle of life and death as well as free from any kind of diseases and ailments.
“These 84 energized Shiva Lingas are very important in Hindu culture as they make life successful and hurdle-free. With just a glimpse of these lingas, a person can leave behind materialistic desires, selfishness, unpleasantness, bitterness and prejudice and become free from any kind of obstructions,” said Varun Joshi. “Sri Ram Nath Kovind was so impressed by the visual creation that he said that everyone should make this unique Shiva Lingam a part of the temple at home,” he added.
These 84 lingas are placed in different locations across Ujjain and devotees perform a yatra of 118 km to get the darshan of each one of them.
The ancient and historical city of Ujjain has a history that dates back to over 5000 years. In the Adi Brahma Puran, the city has been referred to as mokshda and in AgniPuran and Garuda Puran as bhukti-mukti. Ujjain was the capital of the ancient Avanti kingdom. According to the legends, Ujjain is one of four sites where drops of amrita, the elixir of immortality, were accidentally spilled over from a pitcher that was being carried by Garuda during the Samudra Manthana, the churning of the ocean of milk.
The city is also famous for the Panchkroshi Yatra, which takes place every year and is of great religious significance. Thousands of devotees come to the city of Mahakal to take part in this religious yatra. Devotees offer prayers to different Shivlings during this yatra.
20, Dec 2023
Galgotias University Proudly Hosts Smart India Hackathon 2023, a National Initiative to Foster Innovative Solutions
National, 20th December, 2023: Galgotias University is honoured to announce its hosting of the “Smart India Hackathon 2023,” a prestigious nationwide initiative aimed at providing a platform for students to tackle real-world challenges.

Galgotias University will welcome 35 teams from 13 states across India, representing 32 participating institutions. The event boasts over 250 participants, including 200 students and approximately 40 advisors (mentors). Teams from Galgotias University will engage in creative problem-solving across four themes: Smart Education, Smart Automation, MedTech/Biotech/HealthTech, and Miscellaneous, as provided by three esteemed government organisations.
On this occasion, Dr. Dhruv Galgotia, CEO, Galgotias University added, “The ‘Smart India Hackathon 2023’ aligns perfectly with our vision for a ‘Viksit Bharat.’ It is heartening to witness the youth embracing the call to be ambassadors of a developed India. Galgotias University is committed to contributing to this vision by fostering innovation and problem-solving skills among the students.”
The Ministry of Education, National Technical Research Organization (NTRO), and the Ministry of Social Justice and Empowerment have issued problem statements for the challenges. The competition will feature 17 teams focusing on MedTech/BioTech and HealthTech themes, 6 teams on Smart Education, 7 teams on Smart Automation, and 5 teams on other miscellaneous sections.
Ms. Aradhana Galgotias, Director Operations, Galgotias University stated, “We believe in the transformative power of education and innovation, and this hackathon provides a unique opportunity for our students to make meaningful contributions. We are confident that the event will be a testament to the collaborative and innovative spirit of the participants, and we look forward to witnessing the impactful solutions that will emerge from the ‘Smart India Hackathon 2023.'”
The Smart India Hackathon 2023 at Galgotias University promises to showcase the ingenuity and talents of participating teams, reinforcing the university’s commitment to nurturing innovation and problem-solving capabilities among the youth.
