13, Oct 2023
PE Investments in Indian RE Register Decline of around 12 Percent in 1H FY24 – ANAROCK Capital
Mumbai, 13 October 2023: The average ticket size of private equity investments into the Indian real estate sector has increased to USD 117 Mn in 1H FY24, from USD 100 Mn in 1H FY23, finds the ANAROCK Capital report FLUX – 1H FY24.
Shobhit Agarwal, MD & CEO – ANAROCK Capital, says, “This is largely due to a large deal in which Brookfield India Real Estate Trust REIT and Singapore’s sovereign wealth fund GIC together acquired 2 commercial assets – one in Mumbai and other at Gurugram (NCR), from Brookfield Asset Management with an enterprise value of USD 1.4 Bn.”
All transactions in USD ($) unless otherwise stated; Numbers rounded off to the nearest decimal; FY = Financial Year (1st April – 31st March)
Top 10 PE Deals in 1H FY24
Overall activity remained muted with headline numbers boosted by this large single deal, with assets across locations. The top 10 deals accounted for 95% of the total value of PE investments in 1H FY24 as compared to 81% in 1H FY23.
Office assets dominated large ticket equity investments in 1H FY24. This can be attributed towards continued preference by investors in Grade-A office assets with quality tenants.
Data centres are emerging as a new asset class for investment with a value of USD 73 Mn.
Residential RE continued as an attractive destination for debt investments in 1H FY24.
All transactions in USD ($) unless otherwise stated; Numbers rounded off to the nearest integer; FY = Financial Year (1st April – 31st March)
Equity vs Debt Funding
Equity investments continue to be the preferred route by investor, as evidenced from the fact that equity’s share continues to be a healthy at 89%.
FY = Financial Year (1st April – 31st March)
Domestic vs Foreign Funding
Domestic investments increased by 9% (USD 274 Mn) of the total PE capital inflows into Indian RE in 1H FY24, as compared to USD 252 Mn in 1H FY23. The share of foreign investments in 1H FY24 have dropped to 88% as compared to 91% in 1H FY23.
Movement of Capital Flow
Multi-city transactions have increased sharply during 1H FY24, dominated by the Brookfield India REIT & GIC transaction. MMR led the transaction league tables in city-specific transactions, with the city reporting investments of USD 543 Mn in 1H FY24, compared to USD 307 Mn in 1H FY23.
Asset Class-wise Funding
The commercial RE sector has witnessed an increase in capital inflows via PE investments, accounting for a 78% share of investments received in 1H FY24, as compared to 56% in 1H FY23
Data centres are emerging as a new asset class for investment with a value of USD 73 Mn.
Key Takeaways
Residential:
“Led by luxury housing sales, demand for residential real estate continued to post robust volumes,” says Agarwal. “The momentum in residential sales has sustained even as an inflationary environment forced the RBI to push up the Repo Rate to 6.5% earlier this year – a level not exceeded since 2016. The underlying fabric of the market remains skewed towards the mid and premium segments constituting the bulk of sales, while the affordable segment witnessed a decline in volume.”
Supply continued to ramp up during the period, and prices continued to rise despite inflation and elevated interest rates.
“The underlying demand remains strong to the backdrop of a robust economy. We expect the current demand trends to sustain in the foreseeable future with volumes expected to hit a new decadal high in CY23. We expect the larger, organised players to continue to account for an increasing share in line with the prevailing consolidation underway in the sector.”
Office:
While 1H FY24 has seen overall muted activity, the second half of the period saw some stability with good traction in Bengaluru, Hyderabad & Chennai. The revival was led chiefly by the technology & manufacturing sectors.
Owing to weak demand in preceding quarters, landlords have deferred completions, negatively impacting fresh supplies.
Rentals have firmed up for Bengaluru & Hyderabad, while remaining stable for other cities.
Vacancies remained elevated for Gurugram, Noida & Hyderabad, while it remained low for Bengaluru & Pune.
Vacancies remain elevated as companies optimize for hybrid model strategy and consolidate space requirements.
The outlook for second half is stable to strong, backed by demand from return to office.
Retail:
Many international brands like Roberto Cavalli, Foot Locker, Lavazza, Armani Caffe, Jamba and The Coffee Club among many others have announced plans to set up outlets in India.
Domestic retail operator’s sales have also been strong with healthy growth in demand coming from Tier II and Tier III cities.
Mall operators are also looking to grow their asset base, looking to cash in on the industry growth.
The deal street in the retail sector remains buoyant, with several marquee transactions like Qatar Investment Authority and KKR’s investments in Reliance Retail, ChrysCapital’s investment in Lenskart, among others, reported
The overall outlook for the retail industry is buoyant as consumer spending continues to rise.
Warehousing:
Demand for warehousing continues to be strong as tenants are seen leaving non-compliant facilities and migrating to facilities which are compliant in all respects. Tenants are also looking to improve utilization of cubic space instead of just the floor space.
Major sectors driving demand are 3PL, retail, FMCG and automobiles even as demand from e-commerce remains muted.
A steady rise in demand has led to steady supply creation. There are cyclical spurts where the supply surpasses the demand leading to double digit vacancies, but as the balance is restored the vacancy comes to a normally acceptable tolerance level.
Rising input costs have also led to a rise in rentals. Some vacancy is healthy for developers as very often they get a rental premium when catering to an immediate demand.
Developer funds are actively looking at Tier II cities and state capitals like Ludhiana, Rajpura, Lucknow, Bhubaneshwar, Patna, Nagpur, Coimbatore, Cochin.
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- By Rabindra
12, Oct 2023
Tata Tea Gold’s ode to West Bengal’s Durga Pujo festivities
A celebration of artistic splendor with Banglar Noksha Pujo Packs
National, October 12, 2023: As the vibrant tapestry of West Bengal adorns itself in hues of grandeur to warmly welcome the divine fervor of Durga Pujo, Tata Tea Gold, West Bengal’s favorite tea brand, joyously celebrates this festival with the launch of 10 festive packs inspired from the handloom styles of the state. Durga Pujo is a time when West Bengal is at its colorful best. This heralds a time for the women to adorn themselves with new sarees, selected from a wide array of exquisite traditional handloom and textile creations. This festive ode to the handloom heritage was the inspiration for Tata Tea Gold’s festive series Banglar Noksha Pujo packaging. The Tata Tea Gold festive packs are inspired by 5 handloom styles: Kantha, Jamdani, Baluchari, Batik, and Garad.
Tata Tea Gold has also unveiled a specially crafted film, developed by Media Monks, that beautifully captures how Pujo is celebrated across the five days from Shashthi to Dashami. Each celebration has been depicted in the style of West Bengal’s rich handloom culture. The story unfolds with a curious child observing the similarity between the design of a Tata Tea Gold Jamdani-inspired pack and her mother’s Jamdani saree. Soon, a captivating conversation takes place between the two, narrating about Durga Pujo celebrations, basking in the iconic handloom artistry of the region. The film along with a captivating song, brings to life some of the celebratory rituals intricately illustrated on the festive packs.
The film weaves a rich narrative of West Bengal’s pride and celebrations, from the traditional conch blowing depicted on the Jamdani-inspired packs to the resounding beats of the Dhaki from the Kantha-inspired packs, the devotee (Pujaran) adorned in a Baluchari saree, the Dhunuchi dancer draped in Batik prints, and the women playing Sindoor Khela dressed in Garad sarees.
Reflecting on the essence of the new Durga Pujo campaign, Puneet Das, President – Packaged Beverages, India & South Asia, Tata Consumer Products, shared, “As one of the most loved tea brands of West Bengal, we take pride in understanding the people and the local culture. As Durga Pujo is celebrated with such exuberance, we decided to pay homage to these festive celebrations through the famous handloom and textile art of West Bengal. We partnered with five well-known master weavers of West Bengal – Mrityunjoy Chakraborty for Kantha, Sahadeb and Shanksha Basak for Jamdani, Amitava Pal for Baluchari, Sukanta Nandy for Batik and Jiban Polisha for Garad to create special festive handloom designs, which served as inspiration for the design of Tata Tea Gold’s festive packs. These limited-edition special packs, steeped in local flavors, mirror the lively spirit of the festival, encapsulating its vibrant hues and energy. The film shows the visual narrative of the Durga Pujo celebration through our packs.”
Arnab Chatterjee, Co-founder, of Tree Design who had conceptualized the design said, “To capture the festive spirit of Durga Pujo, we decided to harness the immense beauty and depth of the textile and handloom weaves available in the state. Wearing new clothes on the days of Pujo is a tradition, which is why we decided to leverage the magic of West Bengal’s handlooms. We worked closely with master weavers going across the length and breadth of West Bengal and harnessed the magic of their craft to capture the festive fervour in the Tata Tea Gold Festive series packs.”
Commenting on the genesis of the campaign and the idea, Azazul Haque, Chief Content Officer, Media Monks said “Durga Pujo for West Bengal is not just a festival, it is an emotion. When Tata Tea Gold designed the special festive packs showcasing the events during the different days of Pujo depicted in the handloom style of West Bengal, the brief for the campaign was simple- Celebrate Durga Pujo through the festive packs. And the film does exactly that. In the film, a mother proudly tells her daughter about the different Handlooms of West Bengal and how they are depicting the celebrations around Durga Pujo. The feeling of Durga Pujo is magical and we have tried to convey the same through this musical, celebratory film.”
12, Oct 2023
Filmfare Spotlights Gujarat’s Cinematic Potential
Inaugural Filmmaker’s Round Table Unveils Wealth of Opportunities for Cinematic Production in Vibrant Gujarat
National, October 12, 2023:
For over seven decades, Filmfare has been chronicling remarkable accomplishments and milestones of the Indian Film Industry. The Platform continues to lead the way in honouring cinematic and artistic brilliance. For the 69th edition of the Filmfare Awards, which is scheduled to be held on January 2024, Filmfare takes the celebrations to the Vibrant State of Gujarat. One of the core objectives of this partnership seeks to establish Gujarat as a global centre for tourism, investment, and a thriving hub for cinematic production.
The inaugural Filmmakers’ Round Table took place at the Taj Lands End in Mumbai on October 11th where the event served as a significant precursor to the prestigious Filmfare awards. Spearheaded by Mr. Vineet Jain, the Managing Director of The Times Group, Filmfare played a pivotal role in fostering the growth of the Indian film industry. It achieved this by convening a distinguished panel of attendees.
Leading this high-profile gathering was the Honourable Chief Minister of Gujarat, Shri. Bhupendrabhai Patel, who headed a high-powered delegation from the Gujarat Government. Accompanying him was the Honourable Minister of Tourism of Gujarat, Shri Mulubhai Bera, as well as other key policymakers and officials from the Government of Gujarat.
The film & entertainment industry was well-represented, with prolific filmmakers such as Imtiaz Ali, Aanand L. Rai, Boney Kapoor, Om Raut, Mukesh Bhatt, R. Balki, Jayantilal Gada, Nitesh Tiwari, Ashwiny Iyer Tiwari, Nikkhil Advani, Ramesh Taurani, Madhur Bhandarkar, Apoorva Mehta, Raj & DK, Harshavardhan Kulkarni, Venky Mysore, Aparna Purohit, Anand Pandit in attendance, among others. The session was deftly moderated by the versatile actor Kubbra Sait, who skillfully guided in-depth discussions that shed light on Gujarat’s comprehensive support systems for filmmakers.
The Round Table event underscored Gujarat’s unwavering commitment to becoming the ultimate destination for filmmaking and film production. This commitment is substantiated by their world-class infrastructure, enticing incentives, and comprehensive cinematic policy.
Shri. Bhupendrabhai Patel, Chief Minister of Gujarat, commented, “Our collaboration with Filmfare signifies Gujarat’s vision to be at the forefront of cinematic excellence, and this Round Table is a significant milestone towards achieving that goal. We are committed to providing the necessary infrastructure, incentives, and support to ensure that Gujarat becomes a preferred destination for filmmakers from across the world.”
Adding on, Shri Mulubhai Bera, Minister of Tourism of Gujarat, said, “Gujarat’s rich cultural heritage and diverse landscapes have always been a source of inspiration for filmmakers. We are excited to partner with Filmfare to promote Gujarat as a thriving hub for cinematic productions. With a welcoming atmosphere, breath-taking locations, and robust support systems, Gujarat offers filmmakers a unique canvas to bring their artistic visions to life.”
Mr. Vineet Jain, Managing Director of The Times Group, commented, “ The Government of Gujarat has been unwavering in its dedication to offer filmmakers the necessary support, infrastructure, and policies. We are proud to be a facilitator in bringing together the entertainment industry and a canvas like Gujarat for painting their stories on.”
12, Oct 2023
FADA Releases H1 FY’24 Vehicle Retail Data
12th October’23, New Delhi: The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for H1 FY’24.
Chart showing All India Vehicle Retail Data for H1 FY’24
| CATEGORY | H1 FY’24 | H1 FY’23 | H1 FY’22 | % Chg (H1’23) | % Chg (H1’22) | H1 FY’21 | % Chg (H1’21) |
| 2W | 78,28,015 | 73,13,930 | 59,14,894 | 7.03% | 32.34% | 47,76,407 | 63.89% |
| 3W | 5,33,353 | 3,21,964 | 1,42,168 | 65.66% | 275.16% | 83,925 | 535.51% |
| CV | 4,65,097 | 4,50,458 | 2,83,562 | 3.25% | 64.02% | 1,25,453 | 270.73% |
| PV | 18,08,311 | 17,02,905 | 13,35,814 | 6.19% | 35.37% | 7,83,333 | 130.85% |
| TRAC | 4,44,340 | 3,89,815 | 3,73,856 | 13.99% | 18.85% | 3,34,648 | 32.78% |
| Total | 1,10,79,116 | 1,01,79,072 | 80,50,294 | 8.84% | 37.62% | 61,03,766 | 81.51% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS & LD.
- Vehicle Retail Data has been collated as on 06.10.23 in collaboration with the Ministry of Road Transport & Highways, Government of India, and has been gathered from 1,352 out of 1,440 RTOs.
H1 FY’24 Retails
Commenting on H1 FY’24 Auto Retails, FADA President, Mr. Manish Raj Singhania said, “As Fiscal Year 2024 unfolded, the auto retail sector in India embarked on a journey of cautious optimism and resilience amidst a mix of obstacles and victories across various vehicle categories. The initial modest 4% decline in April’s overall vehicle retails was not only a reflection of the dynamic nature of the automotive market but also a precursor to a story of gradual recovery and growth that would unfold over the subsequent months, culminating in a robust 20% YoY growth in September.
The narrative of H1 FY’24 is one of resilience and recovery, with the total auto retail registering a 9% growth YoY. All categories also showed YoY growth with 2W, 3W, CV, PV, and Trac growing by 7%, 66%, 3%, 6%, and 14% respectively.
The 3W segment was the undisputed star, with a remarkable 66% YoY growth, consistently registering unparalleled sales figures month after month. Notably, the first half of FY’24 saw the 3W segment retailing a record-breaking 5,33,353 units, significantly outperforming the H1 FY’19 figures of 3,58,187. This extraordinary performance in the 3W category underscores the sector’s vigorous recovery and adaptability in navigating through the complex market challenges presented by the ongoing pandemic.
The PV segment, while having its set of challenges, also showcased a narrative of steady resurgence and growth. It not only grew by 6% YoY but also witnessed record retails, with H1 FY’24 seeing an all-time high in PV retails at 18,08,311, surpassing the previous record set in H1 FY’23 at 17,02,905. This continued growth trajectory of the PV segment for two consecutive fiscal years is a testament to the resilient demand and the market’s positive response to the diverse and dynamic offerings in the segment.
Despite a slowdown in the last month, Tractor sales have not been left behind in this growth narrative. The first half of FY’24 witnessed record-breaking retails of 4,44,340 units, reflecting a substantial 20% YoY growth. This performance not only indicates a strong market demand but also surpasses the sales figures of H1 FY’23, which stood at 3,89,815.
The CV sector experienced robust sales, registering 4,65,097 units, only second to its record in H1 FY’19 with 4,72,492 units. However, the 2W segment is under stress, still far from its H1 FY’19 peak of 97,27,200 units, reflecting the diverse challenges and successes within India’s auto retail sector.
With the festive season on the horizon, bringing with it a promise of renewed consumer interest and potential demand surge, the Federation of Automobile Dealers Associations (FADA) anticipates a season of growth and prosperity for the auto retail sector, moving from cautious optimism to a hopeful and positive outlook for the market.”
12, Oct 2023
XLRI Jamshedpur Celebrates its Platinum Jubilee, Marking 75 Years of Excellence & Nation Building
Jamshedpur, India – 12 October 2023 – XLRI Jamshedpur, one of India’s premier management institutes, is delighted to announce the commencement of its Platinum Jubilee Celebration, marking a significant milestone of 75 years of nurturing talent, building leaders, fostering change, and leaving an indelible mark on the world. Since its inception in 1949, XLRI has been at the forefront of producing visionary leaders and fostering innovation in the field of management. The Platinum Jubilee Celebration, spanning from October 11, 2023, to October 10, 2024, is a testament to the institute’s unwavering commitment to nurturing future leaders and making a lasting impact on the business world.
The grand inauguration of XLRI Platinum Jubilee Year was on October 11, 2023, in the Tata Auditorium, at XLRI Jamshedpur campus. The event featured Shri C.P. Radhakrishnan, the Honourable Governor of Jharkhand as the Chief Guest for the event. He was bestowed with the prestigious “XLRI Platinum Jubilee Award for The Greater Good.” This esteemed award was presented by the Director and Chairman of XLRI, recognizing Shri C. P. Radhakrishnan’s outstanding contributions to society and his unwavering dedication to public service. The presentation of this award was a momentous highlight of the event, symbolizing XLRI’s deep appreciation for individuals who lead by example and work tirelessly for the betterment of the community.
Alongside Shri C.P Radhakrishnan, present on the dais were Director – Fr S George SJ, Chairman – TV Narendran, Dean of Administration & Finance – Fr Donald D’Silva SJ, and the Dean of Academics – Prof. Sanjay Patro. The event was also attended by the XLRI faculty members, staff members, alumni network, and the entire vibrant student fraternity. Their participation exemplified the unity and shared commitment that defines the XLRI community. It was a testament to the strong bond that binds XLRI and its extended family, all sharing in the celebration of 75 years of excellence in management education.
During the event, the Honourable Governor, Shri C. P. Radhakrishnan, shared his insights and inspiration with the XLRI community. He stated, “XLRI is a significant milestone in Indian education and stands as a beacon of management education. XLRI is outstanding in nurturing leaders and making an indelible mark on society. Tata, one of the most ethical companies globally, is praised for its leadership and commitment to helping during crises like the Mumbai terrorist attack.
Real leadership involves taking risks and being socially responsible, which was a key lesson from my business administration studies. Tata’s commitment to solving problems in various sectors, including electricity in Mumbai, is a testament to its strong ethics. We should be dedicated and involved in our pursuits, much like XLRI’s success story. Addressing the disparity between natural resources and living conditions is a global issue, and political leadership should focus on utilizing resources for economic growth and improving living standards.” His words resonated deeply with all those in attendance, reaffirming the significance of XLRI’s mission and the enduring impact of education on society.
In a moment of great significance, the Chief Guest, Shri C. P. Radhakrishnan, also had the honor of laying the Foundation Stone for the Scholars Residence at XLRI Jamshedpur during the event. This act marked the commencement of a new chapter in XLRI’s journey, reflecting its commitment to providing exceptional accommodation and facilities for its scholars. The Foundation Stone laying ceremony was a symbol of progress, growth, and the institute’s dedication to nurturing future leaders in an environment conducive to learning and excellence.
Fr. S George SJ, Director of XLRI, expressed his enthusiasm for the Platinum Jubilee Celebration, saying, “XLRI has been a beacon of excellence in management education for 75 years. As we embark on this historic journey, we look forward to celebrating our rich legacy, engaging with our global community, and charting a course for the future that is even more remarkable.”
Prof. Sanjay Patro, Dean (Academics) delivered the vote of thanks and said, “The Platinum Jubilee Celebration will be a year-long extravaganza, featuring a series of events and initiatives that reflect XLRI’s rich heritage, commitment to excellence, and its vision for the future. Highlights of the celebration include the Doctoral Colloquium, POMS India International Conference, International Conference on Ethics, Industrial Relations Conference, and 2 Corporate Conclaves.”
| XLRI – The 1st Business School of India, Established in 1949
1949: Jesuits of the Society of Jesus started XLRI by appointing Fr Q Enright SJ as its 1st Director. 1953: Commenced PGDM in HRM, formerly known as PMIR & PG Diploma in Industrial Relations & Social Welfare. 1956: Tata Steel offered land to XLRI to begin its independent campus at CH Area, Jamshedpur. 1962: XLRI Jamshedpur Campus was inaugurated. 1968: Commenced Postgraduate Diploma in Business Management Program 1969: 1st Indian B-School to introduce “Business Ethics” as a mandatory core course. 1987: XLRI established Xavier Institute of Management, Bhubaneswar (XIMB) 1988: Commenced Fellow Programme in Management 1997: India’s 1st full-time General Management Program for working executives was launched. 2000: 3-year Executive Postgraduate Programme in Business Management was introduced. 2002: 1st Indian B-School to provide management education using satellite connectivity through its VIL programmes. 2006: 1st Indian B-School to introduce a mandatory course on Sustainability 2007: 1st Indian B-School to sign the UN Global Compact’s PRME 2015: Accredited by AMBA, reaccredited in 2020. 2016: Accredited by AACSB, reaccredited in 2021. 2017: Expansion of XLRI began with XLRI acquiring land in Delhi NCR, Neral Mumbai & Amaravati, AP. 2021: Established Centre for Gender Equality & Inclusive Leadership. 2023-2024: XLRI Celebrates Platinum Jubilee. |
12, Oct 2023
Omaxe World Street Unveils Exciting Lineup of Festive Delights for a Memorable Season
Omaxe World Street, Faridabad, is all set to enter the festive season with a bang with an array of back-to-back events over the next three months, making this festive season truly unforgettable. Hosting a series of festivities, including cultural performances, live music, food festivals, and much more, it will cater to the diverse tastes of families and friends to come together and celebrate.
A mesmerising five days’ Navratri celebration would be organised, including Durga Pooja, live performances by Bollywood singers, dance groups and a heart-throbbing Dandiya night. Karwa Chowth would be celebrated towards the end of October with astonishing decor, mehendi for ladies and a day full of music. Diwali Carnival will be held from 27 October to 10 November with fun, food, music, and soulfully decorated to capture the lovely moments.
Dance Street will be held on 5 November with over 20 dance performances by talented groups and individuals. Games Street will also be held from 18 November to 26 November with 15 games competitions and attractive prizes and certificates for winners and participants. Renowned comedian Harsh Gujral will be setting the stage on fire with his humor on 25 November. A Sunburn tour of Faridabad will also be organized during the mid-December.
Christmas Carnival and New Year Celebration will be a long festival from 20 December to 5 January. It will be lightened by Live Santa, dance and music performances, Santa and Carnival parade, beautiful decorations, etc., allowing everyone to enter the new year with a lively experience.
Mr. Mohit Goel, Managing Director, Omaxe Group, said, “We are thrilled to announce our exciting lineup of events for the upcoming festive season. Omaxe World Street has always been about creating memorable experiences, and we believe these festivities will add that extra sparkle to our visitors’ experience. We invite everyone to join us in Faridabad and enjoy an unparalleled celebration like never before.”
Omaxe World Street is not just a shopping destination but a place to create lasting memories. With a wide range of retail outlets, restaurants, and entertainment options, visitors can indulge in shopping for the latest fashion trends, relish a wide variety of cuisines, and enjoy a vibrant and lively atmosphere that will make their festive season truly special.
12, Oct 2023
ASUS Encourages Responsible E-Waste Disposal Through DiscardResponsibly Initiative for Indian Consumers
12 October 2023: Charging towards a more sustainable and green future, ASUS India – A Taiwanese technology giant, to mark the occasion of International E-Waste Day, announced the #DiscardResponsibly campaign aimed at promoting responsible e-waste disposal. The campaign themed around “You can recycle anything with a plug, battery, or cable!” underscores the importance of driving awareness amongst end users about the repercussions of improper electronic waste disposal while also empowering individuals to discard their e-waste in a more accountable manner.
According to the United Nations, 8 kg of e-waste per person will be produced worldwide in 2023 which means a total of 61.3 million tonnes of electronic waste will make headway in the landfills within a year. Attempting to reduce this waste, ASUS India is running an awareness drive to inform citizens while also facilitating a home-collection drive across the country.
Commenting on launching the #DiscardResponsibly-2023 campaign, Eric Ou, Country Head of ASUS India, shared, “ASUS globally has been a harbinger of change, be it via the technology solutions that we have brought closer to our customers or by undertaking the challenge and aligning efforts to curb and reduce the growing e-waste in the world. ASUS believes the staggering need for inculcating sustainable practices and contributing towards setting up a more prevalent circular e-waste economy. By 2025, we aim to achieve a global recycling rate of 20% for ASUS products and this will only be feasible if we are supported by our customers who have trusted us day in and day out. Seeking their support and furthering our vision of ‘my responsibility, discard responsibly,’ we at ASUS India are elated to announce the #DiscardResponsibly-2023 campaign.”
“The campaign is also aimed at creating conversation and driving awareness on how anything with a plug, battery and cable needs to be discarded and used cautiously to ensure maximum life. We are certain that this initiative will compel ASUS users to support us in building India’s e-waste circular economy, thus striving for a greener and more sustainable future for our planet”. added Eric Ou.
How can people request for home collection drive:
ASUS India has set up a toll-free helpline number (1800 2090 365) and portal, visit https://asus.in/discardresponsibly/, where consumers can attain information about how they can dispose of e-waste and schedule pick-up slots for collection. ASUS representatives will promptly collect the e-waste from the specified location.
The company will also drive an on-ground awareness campaign at over 40 ASUS stores. The employees at the store will detail the steps that will help customers reduce e-waste while also taking cognizance of how they can contribute to the initiative. People buying laptops from the ASUS stores will also be presented with a jute bag and a plant as a pledge to reduce waste.
ASUS India has been striving towards reducing the e-waste generated by opting for incorporating post-industrial recycled waste in its products. The recently launched ASUS Zenbook S 13 OLED laptop is one of the most environmentally conscious devices available in the Indian market. This product embraces recycled materials in its chassis, employing a high percentage of post-industrial-recycled (PIR) aluminum and magnesium-aluminum alloy in its metal parts. The company also became the first to introduce the ASUS Select Store which displays a range of refurbished laptops that are at par with brand new products.
12, Oct 2023
Envision secures 653.4MW order from JSW Energy
Mumbai, 12 October 2023: Envision Energy, a global leader in renewable energy solutions has won an order from JSW Energy for developing a 653.4 MW wind energy park in Karnataka and Maharashtra. As per the order, Envision would provide 198 units of EN 156-3.3 MW WTGs (Wind Turbine Generator). The project is expected to be commissioned in phase manner by Calendar Year 2024 end and will produce 2200 GWh units of clean energy, significantly accelerating India’s progress towards achieving its net-zero emissions goals.
With an investment of around Rs. 500 crores, India has emerged as a strategic market for Envision and created over 2,000 job opportunities (direct and indirect). The association with JSW Energy would play a pivotal role in ramping up renewable energy capacity in Karnataka and Maharashtra. With a proven track record in global markets like China and Vietnam, Envision’s WTGs are well poised to bolster India’s wind energy landscape. Built with a rotor diameter of 156 m, a hub height of 140 m and a rated capacity of 3.3 MW, these WTGs are best suited to thrive in the Indian wind regime.
Mr. RPV Prasad, CEO, Envision Wind Power Technologies India said, “It is a really happy moment for us as we partner with JSW Energy to leverage India’s wind energy potential in Karnataka and Maharashtra . As part of our commitment to the Atmanirbhar Bharat vision, we would be assembling the nacelle and hubs for the wind turbines at our Pune factory, blades from our Trichy factory, and sourcing tower components from our manufacturers based out of Maharashtra. The booming Indian wind energy landscape would play a pivotal role in propelling the country towards net-zero.”
Mr. Kane Xu, Global Vice President of Envision Energy and Chairman of Envision Energy India, said, “It has become critical to collaborate for accelerating green energy transition to avert the climate crisis. This partnership is a testament to our commitment to solving the challenges for a sustainable future. Together, we can develop reliable renewable energy solutions in India.”
In India, Envision has successfully commissioned 330MW of wind projects and awarded >4.7GW of additional projects. To maintain this positive growth trend, the company has established an annual manufacturing capacity of 3GW for Nacelle & Hub in Pune, and a 2.5GW capacity for blades featuring 9 moulds at its Trichy plant. Envision has strengthened its presence in India, covering six states, with 12 clients and operations on 20+ project sites with a cumulative order book size nearing 5GW.
12, Oct 2023
ICICI Bank opens a new branch at Kesinga
Kesinga: ICICI Bank has set up a branch at Kesinga in Kalahandi district, Odisha. This is the first branch of the Bank in the town. The branch has an ATM-cum-Cash Recycler Machine (CRM) to offer cash deposit and withdrawal services to the customers round the clock.
Shri. Praful Kumar Oddu, BDO, Kesinga inaugurated the branch.
The branch offers a comprehensive range of accounts, including savings and current accounts, trade and forex services, fixed and recurring deposits, loans- business loan, home loan, personal loan, auto loan, and gold loan – along with remittance and card services. The branch also offers banking services to NRI customers. It operates from 9:30 A.M. to 3:00 P.M on Monday to Friday, and on the first, third, and fifth Saturdays of the month
The Bank has a network of about 180 branches and 350 ATMs in Odisha.
12, Oct 2023
AVer Joins GITEX 2023 to Showcase Innovative Video Conferencing and Pro AV Solutions
Taipei, Taiwan – October 12th, 2023:AVer Information Inc., an award-winning provider of video collaboration and education technology solutions, will be exhibiting video conferencing camera solutions at GITEX 2023, taking place on 16–20 October. Visitors can find the AVer Stand at H22-26 of the Dubai World Trade Centre.
AVer boasts a line of exceptional video conferencing cameras, and visitors can find live demos at the booth. The flagship VB350 is a superb all-in-one video bar designed for mid-to-large rooms, helping meeting participants maximize audio and imaging performance and clarity. The CAM570 is one of the most popular high-end cameras AVer offers, with exceptional audio tracking to focus on who is speaking during meetings. The CAM520 Pro3 is the first PTZ camera with Smart Composition, a plug-and-play feature that allows all participants to be visible on-screen.
Visitors will also see other camera solutions displayed at the exhibition, including video bars and camera-microphone sets. The video bars displayed include the VB342 Pro and VB130, the former equipped with a 4K PTZ lens and intelligent AI features like Auto-framing and Smart Gallery and the latter offering intelligent lighting for huddle rooms. The camera-speakerphone set VC550 is adaptable to rooms of any size due to its scalable speakerphone technology.
For those looking for pro AV and education solutions, visitors can find a variety of impressive AVer camera solutions exhibited by our partner Dutco at Stand H4A-A15. Attendees will experience the newest AVer and Nureva collaboration, combining the AVer PTC310UV2 and MT300N with Nureva audio conferencing systems to achieve seamless voice tracking functionality. As for education cameras, the A30 is an all-in-one streaming and audio solution while the U70i is a smart USB visualizer with AI Image Rotation and AI Noise Reduction.
