Archives October 2023

Bangalore, 4th October 2023 : Bandhan Mutual Fund announced the launch of the Bandhan Retirement Fund, with the objective to provide long-term capital appreciation by investing in a mix of equity, debt, and other instruments to help investors meet their retirement goals. The dynamic asset allocation strategy of the fund provides investors with an opportunity to participate in the equity market upside while cushioning the potential downside during a market fall. The New Fund Offer will open on Thursday, September 28, 2023, and close on Thursday, October 12, 2023. Investment in Bandhan Retirement Fund can be made through licensed mutual fund distributors and online platforms, as well as directly on https://bandhanmutual.com/nfo/bandhan-retirement-fund/

Highlighting why retirement planning is a critical goal, Mr. Vishal Kapoor, CEO, Bandhan AMC Limited (Bandhan AMC) said, “Higher life expectancy, rising cost of living, and soaring healthcare inflation could squeeze investor savings, making it pertinent to plan for retirement. Generally, investors with a conservative approach to building a retirement plan grapple to beat inflation, facing a shortage of funds to meet their expenses. While maintaining the same standard of living post-retirement is imperative; the lack of preparedness could derail the journey to create a sizeable retirement corpus. Mutual funds are an effective vehicle for retirement planning, providing the flexibility to invest through the Systematic Investment Plan (SIP) and the lumpsum route, offering the benefit of relatively higher growth potential. Investors looking for a retirement product that combines the benefits of diversification, tax efficiency, and the potential to beat inflation over the long term could consider investing in Bandhan Retirement Fund.”

Highlighting why investors could consider investing in the Bandhan Retirement Fund, Mr. Viraj Kulkarni, Fund Manager, Bandhan AMC added, “Bandhan Retirement Fund follows a model-based approach for dynamic allocation across equity and debt to participate in the market upside while cushioning the potential downside during a market fall. This quantitative model has a robust combination of valuation, fundamental, and technical parameters to make the allocation effective for investors. The fund also allows investors to choose the Systematic Withdrawal Plan (SWP) route to meet their cash flow needs post-retirement.”

The fund’s lock-in period of five years would keep investors’ emotions at bay, encouraging them to remain invested for a reasonably long period and reap the compounding benefit. The equity investment framework of Bandhan Retirement Fund would focus on quality companies with a long-term growth trajectory and justified valuations. The minimum equity holding requirement of 65% would be maintained with investment in hedged equity allocation to ensure that equity taxation eligibility is met. The debt portfolio would be diversified across quality instruments like GSec, SDL, Corporate Bonds, and Money Market Instruments.

To know more about Retirement Planning – Factors to consider when Planning for your Retirement, Retirement Calculator, etc. – check the microsite – https://bandhanmutual.com/retirement/

 4th October 2023 The auspicious festival of Ganesh Chaturthi, one of the biggest celebrations in our country, witnesses great fervor amongst ardent devotees of Lord Ganesha. While the festivities are revelled in full swing, it is the responsibility of each citizen to be conscious of the environment we live in. With a resolute commitment to fostering a cleaner, greener, and better tomorrow, BIG FM, one of the leading radio networks in the country, recently culminated its highly acclaimed initiative ‘BIG Green Ganesha.’ In its 16th year, the initiative is a significant step in the direction of driving a positive change in society, contributing to a sustainable future. Spanning across various states such as Maharashtra, Hyderabad, Madhya Pradesh, Rajasthan, Bangalore, the campaign embraced a holistic approach to eco-consciousness.

The campaign undertook a range of activities to promote an eco-friendly initiative whilst also encouraging its listeners to embrace sustainability in every aspect of the celebrations. In Mumbai, BIG FM ensured that all the decorations, dishware, cutlery and prasad boxes provided to all devotees were sustainable. With on-air guidance, accolades for devotees, and innovative demonstrations, everyone was invited to become ‘Bappa ke Eco-Bhakt’ this festive season. Additionally, BIG FM conducted a plastic collection drive in collaboration with Indian Pollution Control Association (IPCA) by installing drop boxes in 20 Residential Welfare Associations (RWA) across Mumbai. The plastic collected was repurposed into five plastic benches which were installed in the societies. Prominent figures such as Hema Malini, Esha Deol, Lakshya Kochar, Siddharth Nigam, Tushar Kapoor, KaranVir Sharma, Pooja Hegde supported the campaign. A beach clean-up drive was also conducted with popular BIG FM RJs- RJ Rani, RJ Dillip and RJ Abhilash for a greener end to the celebration.

Sunil Kumaran, COO, BIG FM said, “For over a decade, we’ve led the way in pioneering eco-conscious festivities and it’s heartening to see the growing awareness and active participation from our listeners and partners alike. We remain determined in our efforts to foster sustainable celebrations and that has only continued to grow stronger with every passing year. With BIG Green Ganesha, we not only celebrate the joy of the festival but also collectively work towards a cleaner, greener and more sustainable tomorrow. It’s a testament to our unwavering dedication to environmental consciousness and a brighter future for generations to come.”

Taking the BIG Green Ganesha ideology further, in Hyderabad, the focus was on creating eco-friendly Ganesha idols from newspapers, clay and dry grass. In Pune and the rest of Maharashtra, BIG FM collaborated with NGOs to support the education of underprivileged children, encouraging listeners to donate for this noble cause while also participating actively in various pandal events. In Madhya Pradesh and Rajasthan, the campaign emphasised the significance of environmentally conscious festivities, advocating for not only green idols but also sustainable materials for decorations and Prasad boxes. In Bangalore, BIG FM undertook a host of activities such as crafting eco-friendly Ganesha idols at Garuda mall, sharing insights about renowned Ganapati temples and hosting devotional shows. BIG Green Ganesha was extensively promoted across on-air, social media and digital platforms of the radio network.

India,4th October 2023 – Dynatrace (NYSE: DT), the leader in unified observability and security, today announced the findings of an independent global survey of 450 IT practitioners responsible for DevOps and security automation in large organizations. The research reveals that organizations’ investments in DevOps automation are delivering significant benefits, including a 61% improvement in software quality, a 57% reduction in deployment failures, and a 55% decrease in IT costs. In most organizations, however, DevOps automation practices remain in the early stages of maturity. The absence of a clearly defined strategy for DevOps automation, the prevalence of toolchain complexity, and the challenges of analyzing observability and security data are holding them back from realizing the full impact of their investments. This research underscores the need for data-driven and AI-powered automation practices that enable organizations to be more responsive to business needs.

The complimentary Dynatrace 2023 DevOps Automation Pulse Report is available for download. In addition, organizations are invited to take the Dynatrace DevOps automation assessment to understand the maturity of their practices.

Findings from the research include:

· In the next 12 months, organizations are investing in DevOps automation to support security and compliance management (55%), infrastructure provisioning and management (52%), and performance optimization (51%).

· However, only 38% of organizations have a clearly defined DevOps automation strategy to inform these investments.

· On average, organizations have succeeded in automating just over half (56%) of their end-to-end DevOps lifecycle.

· The average organization relies on more than seven different tools for DevOps automation.

· The biggest barriers preventing organizations from automating new DevOps use cases are security concerns (54%), difficulty operationalizing data (54%), and toolchain complexity (53%).

“As more organizations embrace cloud-native software delivery, DevOps automation has evolved to become a strategic imperative,” said Bernd Greifeneder, Chief Technology Officer at Dynatrace. “The prevalence of Kubernetes architectures and technology stacks that have surpassed human ability to manage are driving the need for automated ecosystem orchestration and protection. Organizations are attempting to meet this need by building and managing automation scripts using a growing array of open source tooling bolted together with DIY approaches and manual effort. However, the cracks are starting to show in this fragmented approach. Teams are entrenched in data silos, isolated pockets of automation, and reactive and manually intensive operations and security efforts. They urgently need a unified, AI-backed approach to DevOps automation, or it will be impossible to accelerate innovation while maintaining software quality and security.”

Additional research findings include:

· 71% of organizations use observability data and insights to drive automation decisions and improvements in DevOps workflows.

· However, 85% of organizations face challenges using observability and security data to drive DevOps automation.

· The top three challenges facing organizations include inaccessible data (51%), siloed data (43%), and the need for data to flow through many systems to be analyzed (41%).

· 54% of organizations are investing in platforms to enable easier integration of tools and collaboration between teams involved in automation projects.

· 59% of organizations expect large language models (LLMs), such as ChatGPT and Bard, to have a significant impact on their DevOps automation capabilities, with the top three benefits including increased productivity and reduced manual effort (57%), improved development, security, and operations collaboration (56%), and enabling teams to generate code automatically (48%).

“Data-driven automation is the key to unlocking innovation and meeting customer expectations in the cloud-native era,” continued Greifeneder. “This requires a platform that can handle the huge volume and variety of data generated by cloud-native stacks and uses AI to provide accurate and actionable insights for DevOps automation. Unlike traditional AI techniques that are limited in scope and applicability, platforms that combine predictive, causal, and generative techniques can excel in specific capabilities to address different DevOps automation use cases. This way, teams maximize the value of their data, eliminate data silos, and can automate DevOps processes with confidence.”

The report is based on a global survey of 450 IT practitioners responsible for DevOps and security automation in large organizations, including 150 in the U.S., 150 across EMEA, and 150 in Asia Pacific. The research was conducted by Coleman Parkes and commissioned by Dynatrace.

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Gurgaon, 4th October 2023: Cogoport, a global trade platform and IIM Amritsar have announced the commencement of its first batch of candidates for the Post-Graduate Certificate Program in Global Logistics and Freight Management.

The inauguration took place today at the Cogoport office. The event was graced by dignitaries including Mr. Hrishikesh Kulkarni, Chief Operation Officer at Cogoport, and Mr. Sachin Mehra, Chief Financial Officer at Cogoport. The event also witnessed the presence of Prof. Mahima Gupta, Dean of Academics and Programs at IIM Amritsar, Professor Harpreet Kaur, Program Director, and Ms. Anamika Singh, Marketing Director at Cogoport.

The Post Graduate Certificate Program, developed in collaboration with the prestigious Indian Institute of Management (IIM), Amritsar, represents a pioneering initiative by a company in the field of international logistics and global supply chain. It is the first of its kind to be offered by a corporation or institution and aims to provide comprehensive management training, equipping participants with foundational knowledge and practical skills required to excel in this dynamic industry.

The inaugural three-month batch of this program is set to commence on 3rd October 2023. The program fee is INR 5 lakhs; however, students from special backgrounds can apply and qualify for up to 100% scholarship, contingent upon their success in the company-conducted interview, in performance test and in previous work stints.

A hallmark feature of this program is a three-month internship hosted at Cogoport, offering students an invaluable opportunity to gain hands-on experience and address real-life challenges. Graduates of the program will receive preferential consideration when applying for positions at Cogoport and across the industry. Additionally, selected candidates will have the unique prospect of exploring international job opportunities with Cogoport in countries like Vietnam, Singapore, Thailand, and Indonesia, thereby expanding their horizons within the international logistics sector.

Commenting on the program, Hrishikesh Kulkarni, Chief Operating Officer at Cogoport said, “International trade is an intricate field that demands a specific skill set to navigate successfully. By collaborating with IIM-Amritsar, a renowned institution and expert in supply chain and logistics, this special program aims to offer a unique curriculum that imparts an in-depth understanding of global supply chain operations and management. It is designed not only to impart theoretical knowledge but also to provide practical exposure and foster the development of industry-relevant skills. The extensive executive network and alumni base of IIM-Amritsar will open doors to continuous placement opportunities for our students.”

The curriculum is rich and comprehensive, featuring critical modules like Global Supply Chain Finance, Processes & Operations in International Trade, Strategic Outsourcing & Vendor Management, Logistics Management & Inventory Planning, Industry 4.0 Application in Supply Chain, Fundamentals of Supply Chain Management, and International Logistics. These modules ensure that students gain a holistic understanding of the logistics sector, preparing them for success across diverse sectors. Moreover, IIM Amritsar employs case study techniques and in-class simulations to enhance the clarity of complex concepts.

Professor Prof. Nagarajan Ramamoorthy, Director, IIM Amritsar commented, “According to the World Trade Organization (WTO), the global merchandise trade volume is expected to increase to 3.2% in the year 2024, after emerging from the Covid pandemic and the Ukraine War. The exports and imports in the Asian market is expected to be 4.7% and 5.2%, respectively, well above the global average. In the future, this trend will likely increase further, and efficient management of global logistics and supply chain will be the need of the hour. This program is designed to create capable employees to handle these tough challenges.”

Kolkata, 4th October 2023: Science and technology play a pivotal role in shaping the present and future of society, driving innovation, improving quality of life, and expanding the horizons of human capability. At the intersection of these advancements and their far-reaching impacts, lies the undeniable importance of the STEM (Science, Technology, Engineering, Mathematics) education. It is vital for driving economic growth, fostering innovation, and addressing global challenges. According to the National Science Foundation, 80% of jobs in the next decade will require STEM skills, and IBM estimates that STEM careers will offer 24% higher pay and longevity in the future. Thus, STEM courses have become one of the most sought-after in the world.

For students looking to advance their careers in these subjects, STEM education in the UK is an ideal choice. The UK holds a special place in the annals of scientific history. Renowned individuals and thinker like Isaac Newton, Charles Darwin, Rosalind Franklin, and Stephen Hawking have been responsible for leading the country’s path to global recognition, backed by their contributions to scientific discoveries dating back centuries. Furthermore, whether considering education quality, course diversity, research facilities, innovation, or job opportunities, STEM courses in the UK excel in all aspects. Presently, the UK ranks third globally for citable research, with 55.2% of UK publications being the result of international research collaborations.

UK universities offer great career prospects, with strong employability and earnings potential.

Did you know, according to QS Graduate Employability Rankings, 4 UK universities rank in the top 10 globally, highlighting the quality of higher education in the UK. UK graduates are ranked among the world’s most employable, and this is especially true for STEM graduates. Universities in the UK excel in providing diverse STEM and modern courses that address the evolving tech landscape, equipping students with skills for success in a dynamic job market and positioning them at the forefront of modern STEM fields. These courses not only provide students with foundational knowledge but also position them at the forefront of modern science, technology, engineering, and mathematics.

Some of the top STEM and new-age courses offered by UK universities include:

1. Artificial Intelligence: The AI courses in the UK deliver intensive training in programming and the fundamentals of artificial intelligence (AI). They are designed to provide students with a comprehensive understanding of AI technologies, their applications, and theoretical foundations. Students get a chance to explore the realm of AI, machine learning, natural language processing, robotics, and more.

2. Data Science: In today’s data-driven world, a Data Science course holds significant importance as it involves extracting insights and knowledge from large and complex datasets using a combination of statistical analysis, machine learning, programming, and domain expertise. It also contributes to innovation in various sectors.

3. Security science and technology: It is a dynamic and vital field that is dedicated to safeguarding our modern way of life. From fortifying digital networks against cyber threats to developing advanced surveillance systems, it combines knowledge from diverse disciplines to create innovative solutions that ensure our safety in an increasingly interconnected world. With the constant evolution of technology, this field remains essential in addressing emerging challenges and staying ahead of potential risks, making it a cornerstone of our security in the digital age.

4. Design Engineering: Design Engineering holds its importance due to its central role in addressing complex global challenges as it helps in combining creativity and engineering in design engineering. Students learn to conceive and develop innovative products, considering factors such as aesthetics, functionality, and sustainability in their designs.

5. Materials Science: The graduates with this degree play a vital role in developing materials that have a positive impact on industries, society, and the environment. It helps them assess how technological advances relating to materials are transforming our lives, from the clothes we wear to emerging, life-chasing technologies. This exploration will delve into the driving forces behind inventing and enhancing materials, revealing their potential to offer solutions across critical domains like healthcare and transportation.

This is not all! Students looking out for more options to pursue a higher education in STEM courses may visit the Study UK website for more details.

Pune, 4th October 2023: The National Restaurants Association of India (NRAI) Pune Chapter is delighted to announce a significant event designed to support Pune’s food and beverage startups/businesses and explore the art of community building featuring a special appearance by Sonia Agarwal Konjeti, founder of India’s largest women’s group, “PULA Pune Ladies” on Facebook. This entire event is presented by DotPe and is scheduled for Tuesday, October 10, 2023, at One Lounge in Koregaon Park, Pune and it promises to be a game-changer for the F&B industry. The Elevate session is scheduled from 2 pm to 6 pm, followed by the session with Sonia Konjeti, which will commence at 7 pm.

The event will start with the “Elevate: Mentorship for Emerging Brands” program. Startups will have the unique opportunity to learn from experienced mentors from the food and beverage industry who will address their specific needs and challenges. This program includes one-on-one mentoring sessions, roundtable discussions covering key business topics, and valuable networking opportunities with mentors, fellow startups and businesses.

A knowledge-sharing session will continue the event. Inspiring keynote speakers will share their achievements, real-life case studies of successful startups, engaging Q&A sessions, resource sharing, and innovation showcases are some of the highlights of this segment. Attendees will get some actionable insights and connect with a knowledgeable audience to help propel their F&B ventures forward.

Mr. Praful Chandawarkar, NRAI Pune Chapter Head and Founder and Managing Director of Malaka Spice, shared his excitement about the event, saying, “This is an outstanding opportunity for growing brands to receive mentorship from industry experts. The goal of this mentoring program is to arm businesses with the knowledge and skills they need to thrive in the competitive F&B industry.”

At “Elevate: Mentorship and Community Building,” participants will embark on a unique learning journey alongside Sonia Agarwal Konjeti and an array of accomplished speakers. This event is meticulously crafted for budding entrepreneurs, industry professionals, and passionate enthusiasts keen on uncovering the keys to triumph within the hospitality and beverage sectors.

MUMBAI —4th October 2023—In a fireside conversation at APOS Bali (Indonesia) 2023, created and curated by Media Partners Asia (MPA), Kelly Day, vice president, international, Prime Video, shared her views on Prime Video’s customer-first strategy globally. “As a customer-first organization, delivering great content selection, the convenience of accessing the expansive content offerings and customer value, act as the major differentiators for Prime Video globally. Our mission is to become the one-stop entertainment destination, a place where customers can find all of their video entertainment under one roof, be it content produced by us or by other studios, content from our partners such as Paramount+, HBO Max, Starz, BritBox, accessible through Prime Video Channels, or titles to rent or buy via our TVOD Store; or fast channels, linear channels, AVOD channels that we have in many locales. So, we’re really trying to deliver the maximum selection possible.”

Underscoring the investments Prime Video has made on behalf of customers worldwide, Kelly went on to share that since early 2022, Prime Video has been delivering even more variety and value through Original content, having launched 280 local Original titles across 25 countries. The service is further complementing this by bringing an incredible selection of content to the service through TVOD and Channels, with over 500 channel partners around the world, delivering incredible value to customers.

On the importance of building local content offerings, Kelly shared, “We do not want our customers to see Prime Video as one homogenized, global service. For each of our geos, we want customers to consider it as a local experience, but with all the benefits of getting a credible technology platform, with great global Originals and other acquired content. Japan and India are two great examples where we have deeply invested in building an extensive array of local, authentic content that resonates with the customers.”

Talking about the role of international content as a growth engine, Kelly elaborated, “Original content is a key pillar of growth. Over the last few years, we have invested in a lot in our big/key tentpoles, The Lord of the Rings: The Rings of Power, The Wheel of Time, Reacher, Citadel, and Jack Ryan, and these titles really resonate with our Prime customers globally and we see these working in almost every country around the world. That’s really what brings people into Prime Video, and once we have them engage with the service, then there is so much more that they can explore, whether it is licensed content such as Yellowstone or The Last of Us or Barbie or Super Mario Bros. Movie. And that is what we are really focused on trying to provide at Prime Video – a very personalized and engaging experience so that whenever customers come to the service, they are always going to find something that works for them, that they want to watch.”

“We see the APAC region offering an incredible subscriber growth opportunity with the high-quality content engine we are developing across Asia. Be it Japanese Originals, Indian movies and series, Korean dramas, and much more, all this is resonating with customers not only in the local markets but across the world. Not just Asia, international content from Spain and Argentina is increasingly becoming popular with customers, including English-speaking markets such as the US, Canada, the UK, and Australia, to name a few. Customers from these locales are truly embracing the authentic, engaging, quality storytelling coming from all over the world.”

Identifying Japan and India as the key growth drivers in the region and the potential in the Asia Pacific region, Kelly said, “We are relatively new in Southeast Asia and are in different phases of maturity in different countries. Japan is one of our most mature locales, India has been a huge growth driver over the last couple of years, in other markets we are just getting started, but we are incredibly excited by the opportunity here.”

Kelly signed off by saying, “We really want to be a singular entertainment destination where customers can find amazing content at an incredible value, great price, in the convenience of really having one place to go. We want to deliver a very personalized experience with an easy to use, single billing application that just makes it easy for customers to navigate everything that’s out there and find something worth watching.”

Mumbai, 4th October 2023 – Rubix Data Sciences, a technology and analytics-based B2B risk management and monitoring platform provider, today announced its Rubix Credit Decisioning Solution in now available on SAP Store. The solution work with SAP S/⁠4HANA®Cloud giving access to Rubix Risk Scores and credit and financial risk information. This enables users to make better credit decisions and automate the risk monitoring of their counterparties.

Counterparties can include customers, distributors, dealers, franchisees, suppliers,and vendors, and can cross industries such as manufacturing, finance, Fast-Moving Consumer Goods, retail, technology, energy, supply chain, logistics, and transportation.

“With Rubix’s Risk Score and relatedrisk information now available with SAP S/4HANA, users can easily access insights about counterparties’ risk profile, enabling them to make quick and effective credit, supplier and compliance risk decisions,” said Mohan Ramaswamy, Co-Founder and CEO of Rubix Data Sciences.“Users will also be able tomonitor counterparties’ evolving financial risk with the integration of Rubix Early Warning Signal data. Rubix Risk Scores can help users reduce risks throughout their distribution and supply chains and efficiently manage counterparty relationships.”

Mumbai,4th October 2023: In a major achievement, SLCM has made a profound impact on the lives of over 78,000 small and marginal farmers, along with more than 23,000 women borrowers, through its financial wing, Kissandhan.

Kissandhan empowers farmers and stakeholders to secure loans of up to Rs 5 Crore by pledging their commodity stocks stored in SLCM’s state-of-the-art warehouses. This significant milestone not only highlights SLCM’s dedication to the agricultural community but also represents a game-changing moment for the company.

Kissandhan, with its diverse range of products, including Commodity Based Finance (CBF), Financing FPOs and Business Correspondent (BC), has facilitated cumulative disbursements of INR 2773 Crores and issued 48,936 warehouse receipts. This remarkable milestone underscores SLCM’s commitment to the agricultural community.

Kissandhan is revolutionizing the way farmers, aggregators, traders, and Farmer Producer Organisations (FPOs) access financing. SLCM understands the critical role FPOs play in supporting member and non-member farmers during crucial periods such as the procurement of inputs like seeds, fertilizers, and pesticides, as well as during harvesting. Kissandhan ensures that FPOs receive timely loans, enabling them to extend this support to farmers. As a result, farmers receive instant funds when they need them most, leading to improved livelihoods.

Mr Sandeep Sabharwal, Group CEO, SLCM, expressed his pride in achieving this milestone, stating, “Kissandhan initiative is a testament to our unwavering commitment to the well-being of farmers. We are thrilled to have made a positive impact on the lives of over 65,000 small and marginal farmers and more than 23,000 women borrowers. As we move forward, SLCM remains dedicated to introducing more innovative solutions that will empower the agricultural community and drive positive change in the sector.”

SLCM is also fostering Business Correspondent Partnerships for building retail book with Non-Banking Financial Companies (NBFCs) and Microfinance Institutions (MFIs) through Kissandhan. This initiative provides NBFCs engaged in Agri & Allied activities with loan limits of up to Rs 15 Crores for lending to small and marginal farmers. By doing so, Kissandhan is bridging the gap in rural credit access and empowering marginal farmers in agriculture.

This milestone reflects SLCM’s ongoing efforts to redefine agricultural financing in India. By leveraging technology and a deep understanding of the needs of farmers and FPOs, SLCM through Kissandhan has not only transformed lives but also ensured that the future of agriculture in India is poised for growth and sustainability.

Chennai: 4th October 2023 — ‘Renaissance Solar and Electronic Materials’ (RSOLEC), an innovative solar enterprise with operations in India and the USA, today announced its official launch and establishment, accompanied by a significant planned investment of about $300 million. With global reach and expertise in differentiated solar and electronic materials manufacturing, RSOLEC is set to revolutionize the industry with a strategic focus on Solar Crystal Growth and Wafering.

The launch of RSOLEC aligns with India’s “Atmanirbhar Bharat” mission, showcasing the country’s capabilities in the state-of-the-art solar value chain. The company’s primary focus for the next five years will be on Crystal Growth and Wafering in India, contributing significantly to the country’s strategic solar manufacturing capacity. Over the long term, RSOLEC intends to expand its manufacturing over the entire solar value chain.

Investment and Job Creation:

RSOLEC’s commitment to pioneering solar manufacturing with the lowest capital intensity ensures cost-competitive production on a global scale. The company’s roadmap anticipates achieving a capital intensity below $35 million per GW.

Furthermore, RSOLEC is dedicated to job creation, aiming to generate over 1,000 skilled jobs in the solar sector within the next three years, with more than 3,000 skilled job opportunities envisioned for the long term. This commitment to job growth aligns with economic development and skill enhancement objectives.

Founded and supported by technocrats from five different countries across three continents, RSOLEC integrates continuous improvement on existing platforms with cutting-edge technologies. Based in Delaware, USA, RSOLEC operates through its Indian subsidiary located within the dynamic ecosystem of IIT Madras Research Park.

Dr. Milind Kulkarni, Chairman and CEO of RSOLEC, articulated, “RSOLEC is poised to contribute to the solar energy revolution and initiate the cultural transformation required for success in the dynamic solar manufacturing sector. Our differentiation lies in our technology-driven, low-risk innovations, positioning RSOLEC at the forefront of the solar industry.”

“Padmashree” Professor Ashok Jhunjhunwala, President of IITM Research Park, voiced his endorsement, stating, “It is strategically imperative for India to develop the entire solar ecosystem, encompassing solar manufacturing. RSOLEC brings the requisite expertise for technology-driven solar manufacturing, and we are pleased to support this critically significant endeavour at the IIT Madras Research Park.”

Key Highlights:

• Technology: The facility will utilize the state-of-the-art Recharge Czochralski (RCZ) process, which can be retrofitted to the emerging Continuous Czochralski (CCZ) process for Crystal Growth. Wafer production is based on the cutting-edge DCW platform, capable of producing thin wafers measuring below 100 micrometers in thickness.

RSOLEC’s commitment to continuous technological advancement on existing platforms enables an 80% improvement in productivity and a 40% reduction in production costs over a short timeframe.

• Product: The primary product is high-quality silicon wafers with low oxygen content, high lifetime, and controlled resistivity, compatible with all solar cell technologies, including TOPCon, PERC, HJT, and Tandem structures.

RSOLEC aims to achieve crystals with uniform resistivity, potentially increasing cell efficiency by 0.15%, a milestone not yet attained in the solar manufacturing industry. For select customers requiring very low oxygen content, the magnetic Czochralski (MCZ) platform will be employed. The facility will have the capability to produce wafers in various sizes, including M10, G12, and G16.

• Capacity: Initial production capacity is set at 5 GW, with plans for expansion to exceed 20 GW in the long term.

• Timeline: Commissioning of the facility is planned in late 2025 and production in 2026. RSOLEC is currently evaluating several short-listed production sites offering attractive opportunities.

• Innovative Leadership: The founding team of RSOLEC consists of four dedicated professionals with extensive experience in the solar value chain, supported by nine international Subject Matter Experts and accomplished Advisory Board members.

Solar energy represents the most cost-effective and rapidly growing energy source globally. RSOLEC is poised to make a substantial impact on the worldwide solar manufacturing sector, with a particular emphasis on India.