Archives January 2024

Bengaluru 17th January 2024: JLR India today launched the new and enhanced Discovery Sport in India. The Discovery Sport is versatile by design offering up to seven seats and a dramatically refined new interior that exudes modern luxury.

The Discovery Sport is available in Dynamic SE with two powertrain options – the 2.0 l petrol engine delivering a power of 183 kW and 365 Nm torque and a 2.0 l Ingenium diesel engine delivering a power of 150 kW and 430 Nm torque.

Rajan Amba, Managing Director, JLR India, said: “The new Discovery Sport is versatile by design and perfect for active families that like to hit the road cocooned in luxury. It is a characterful, modern, compact SUV with a versatile interior, breadth of capability as well as intuitive technology, that makes every journey for the family one of utmost comfort and safety.”

Ready for Family Adventure

Available with up to seven seats, Discovery Sport’s versatile and spacious interior ensures generous room and comfort for all, with up to 24 possible seat configurations. The second row of seats slides and reclines with a 40:20:40 split, while a load area of up to 1 794 l with the rear seats folded down accommodates spontaneous adventures. A powered tailgate makes loading and unloading hassle free.

Every Discovery Sport now features a digital instrument cluster and steering wheel-mounted gearshift paddles as standard, while the redesigned and simplified centre console boasts an elegant new floating 28.95 cm (11.4) curved glass touchscreen. The latest Pivi Pro infotainment set-up features permanently accessible sidebars, which provide shortcuts to key vehicle controls and functions, such as media, volume, climate and navigation. This allows users to access 90 per cent tasks within two taps from the home screen.

Luxurious Interior

Luxurious cabin quality comes from finely crafted, tactile materials. The interior feels bright, spacious and airy with stadium-style seating for optimum visibility in all three rows. The panoramic glass roof further adds to the sense of space.

Discovery Sport’s refined interior features a new gear shifter surrounded by a natural shadow oak trim finisher and an elegant three-spoke multi-function steering wheel.  Discovery Sport Dynamic SE features DuoLeather interiors with up to two colour options.

Wireless Connectivity and Convenience

Convenience comes as standard with Wireless Apple CarPlay^TM making it easy to control major functions. Android Auto® also features as standard for the ultimate connectivity. The redesigned centre console liberates stowage space and accommodates Wireless Device Charging offered as standard, giving Discovery Sport one of the most spacious open front console stowage areas in its class for superior everyday family practicality. In addition, two USB-C chargers are available in each row to keep everyone fully connected and charged, with 12 V power in the second row and loadspace. Clients also benefit from third row climate control and USB-C charging.

Occupant Wellbeing

Discovery Sport features one of the most sophisticated interior air quality technologies available thanks to Cabin Air Purification Plus. With PM2.5 Filtration and CO₂ Management, the system helps to promote wellbeing for the whole family, as well as heighten alertness for the driver by monitoring and controlling CO₂ levels inside. The advanced system combines nanoe™ X technology to combat pathogens and help significantly reduce odours, bacteria and allergens.

All Round Vision

Discovery Sport also offers one of the most comprehensive suites of camera technologies in its class. Greater driver reassurance comes courtesy of 3D surround cameras and ClearSight Ground View^TM which offer feeds viewed on the 28.95 cm (11.4) touchscreen, and ClearSight Rear View Mirror^TM which provides an unobstructed view behind the vehicle, regardless of what is in the back.

The Discovery Sport also features subtle exterior updates highlighting its distinctive Discovery DNA.

Dynamic models are more assertive and purposeful, with a contrast roof and exterior accents – including Discovery script, grille, lower body sills and lower bumpers – all featuring a distinctive Gloss Black finish. Gloss Black front claw detailing on the bumpers and wheel arches amplifies the purposeful stance, with the three-line signature of the front air intakes a clear Discovery design trademark.

Alloy wheel design comes in the bold 48.26 cm (19) Diamond Turned finish. Varesine Blue is added to the curated exterior paint palette.

The Discovery Sport is available to order priced from ₹ 67.90 Lakh. Configure yours now at www.discovery/discovery-sport

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Bengaluru, 17th January, 2024: Today signifies a momentous occasion as the esteemed Prime Minister, Shri Narendra Modi inaugurated the commencement of the Bharat Ratnam Mega CFC at the SEEPZ SEZ in Mumbai in virtual mode (remotely). This momentous event is a testament to the Government’s commitment to driving innovation, economic growth, and technological advancement.  

Bharat Ratnam Mega CFC is a Socio-economic project promoted by the Ministry of Commerce and Industry, GJEPC India and SEEPZ SEZ authority to drive exports from the country.  

This project aims at creating a world-class infrastructure for promoting the inherent skills of the gems & jewellery manufacturing industry. The Mega Common Facilitation Centre provides a supportive and collaborative environment for entrepreneurs, MSMEs and small businesses to grow and thrive.  

Bharat Ratnam CFC will house the cutting-edge equipment, including a 3D Metal printer. It will also provide training and skilling for artisans, including specially abled students. The Mega CFC will transform the export sector in the gem and jewellery trade and will also help the domestic manufacturing.  

Vipul Shah, Chairman, GJEPC, said, “Salute to the Hon’ble Prime Minister Shri Narendra Modi for steering a remarkable era of development across all sectors. His visionary strides towards shaping a Viksit Bharat are not only evident in ground breaking policy reforms, but also in the development of infrastructure that promises to redefine the business landscape.  

On behalf of the Indian gem and jewellery community, I extend heartfelt thanks to the Prime Minister for his forward-thinking approach. The government’s steadfast support, exemplified by the establishment of the Mega CFC Bharat Ratnam in SEEPZ, Mumbai, lays a robust foundation for the industry‘s future growth. Mega CFC is integral to the industry‘s plan to double the SEZ export target from $7 billion to $15 billion, unlocking the untapped potential of around $30 billion.   

“The Bharat Ratnam Mega CFC was conceptualised by GJEPC. The feasibility study and project report was done through National Productivity Council by GJEPC. The Project report was adopted by MoC and funded through SEEPZ. The implementation of the project was done under a Mega CFC Committee nominated by GJEPC along with SEEPZ Authority. GJEPC has signed an MoU to run and operate the Bharat Ratnam Mega CFC.”  

The Mega CFC shines as a symbol of innovation, featuring cutting-edge technologies certified for carbon neutrality. It houses a dedicated Research & Development Centre, a Training & Skilling School for inclusive education, and versatile facilities for exhibitions and events.    

“The Prime Minister’s commitment to this transformative vision is nothing short of inspiring, and we eagerly anticipate the flourishing journey that lies ahead for the gem and jewellery sector, driven by this visionary leadership. GJEPC will collaborate with SEEPZ and Government of India to transform the Gem and Jewellery industry,” Shah added.  

Vipul further added, “Today, on the auspicious occasion of National Youth Day, dedicated to commemorating the birth anniversary of Swami Vivekananda, we seize the perfect moment to unveil Mega CFC, a monumental initiative poised to serve as a guiding light of inspiration for the youth and the forthcoming generation of professionals, directing them towards excellence in this industry.”  

Rajesh Kumar Mishra, IRS Zonal Development Commissioner, SEEPZ-SEZ said, “I express by heartfelt gratitude to Hon’ble Prime Minster Shri Narendra Modi for initiating the step to transform the SEZs, which he has successfully started from SEEPZ Mumbai. This essential renovation and upgrade were timely necessities which will further boost gem and jewellery exports from our country. And the best part is Mega CFC facilities will be made available at a reasonable rate not only to SEEPZ-SEZ units but also to factories outside the zone which will improve the output in terms of quality, productivity and yield of the finished jewellery.”

C. P. S. Chauhan. IRS, Joint Development Commissioner, SEEPZ-SEZ, said, “After the Bhoomi Poojan on September 1st, 2022, the construction of the Mega CFC was completed within an astonishing 14-month period! This achievement illustrates the collaboration between the Government, GJEPC, and SEEPZ for their collective efforts in completing this project in record time. I firmly believe this marks just the beginning, and we can anticipate more such transformative projects supported by the government to reshape the landscape of SEEPZ.”

Kirit Bhansali, Vice Chairman, GJEPC, stated, “We are honoured and thrilled to witness the momentous occasion of the Honourable Prime Minister laying the foundation stone for NEST 1 and Bharat Ratnam at SEEPZ SEZ. The Gem & Jewellery sector comprises a maximum of MSMEs (Jewellery manufacturers and retailers) who have affordability constraints for the modern technology, research & development and skilled manpower. Mega CFC bridges this gap to maintain the competitiveness through the latest in 3-Ts (Technology, Techniques and Training) from across the globe at a single facilitation centre.”

“Bharat Ratnam is poised to become a game-changer, shaping the future of the industry providing a conducive environment for cutting-edge technology . Mega CFC provides and enables a smooth ‘ALL THINGS JEWELRY’ experience as whole, while facilitating various technical services involved in the jewelry making process under one roof”, added Mr. Bhansali

The company culture, innovative combination of services, state-of-the-art equipment, in-house talents and positive customer experience journey fosters customer loyalty making Mega CFC way unique.  

Colin Shah, Head Working Group, Bharat Ratnam, Mega CFC, commented, “Thanks to Hon’ble PM Shri Narendra Modi and Shri Piyush Goyal, for the backing this mega project. With their robust support, we are transforming the landscape by democratizing access to cutting-edge technology. This will empower every individual to engage in jewellery manufacturing at the highest level. This 360-degree service model is designed to equip entrepreneurs with the necessary skills, connect them with global customers, and provide continuous learning through seminars.”

Bharat Ratnam is a well-structured layout, with the first three floors housing advanced technologies; the fourth floor is dedicated to training workers, with a special focus on creating opportunities for deaf and mute workers through partnerships with local NGOs. The fifth floor will be a hub for buyer-seller meets, fostering global connections, and the sixth floor will serve as a Convention Center for symposiums throughout the year, providing entrepreneurs with access to valuable knowledge and networking opportunities.   

Cutting Edge Technical Services At Bharat Ratnam – Mega Common Facility Centre: CAD & CAD Rendering Services; 3D Printing Services – Metal; 3D Printing Services– Ceramic; 3D Printing Services – Resin & Wax; Casting Services (Gold, Platinum & Silver); CNC Services; Refining Services (Gold, Platinum & Silver); Mass Finishing Services; LGD Testing Services; Hallmarking Services; Colour Laser Engraving Services; Micron Plating / Rhodium Plating Services; Enamel / Coating Services; LAB Testing Services including XRF; Photography & Video Services.

New Delhi, 17th January, 2024: BuyUcoin, India’s second-longest running digital asset exchange announced today that it will reimburse entire withdrawal fees for Indian users when they transfer their assets from offshore exchanges/wallets to their BuyUcoin account. After the latest crackdown by FIU on offshore exchanges, Indian digital asset owners were worried about the safety of their valuable digital assets and BuyUcoin, which is an FIU compliant crypto exchange, has made the transfer of digital assets from offshore exchanges a hassle free and no-cost process.

In a recent development, The Financial Intelligence Unit India (FIU-IND), a unit of the Finance Ministry issued a show cause notice to most of the offshore crypto exchanges for not being compliant with the requisite provisions of the Prevention of Money Laundering Act (PMLA). FIU asked the Ministry of Information Technology to block their URLs and remove their apps from app stores. BuyUcoin is taking positive steps to ensure that the users in India feel safe and ensure a smooth transition to a FIU compliant platform like BuyUcoin.

Commenting on the development, Shivam Thakral, CEO of BuyUcoin, said “We are delighted to see that India is taking positive strides towards digital asset regulations and BuyUcoin is proud to contribute to India’s ambitions to become a global hub for Web3 innovation. At BuyUcoin, adherence to compliance measures is a top most priority as it is essential for promoting responsible use of digital assets.

He added “A regulated environment will provide a level-playing field for all the players in the industry and create a strong security layer around India’s thriving digital asset ecosystem with a strong focus on user protection.

As a part of the initiative, BuyUcoin will reimburse the withdrawal fees for users incurred during the transfer of assets from offshore platforms to BuyUcoin. Users will have to submit a proof of fees paid during the transfer of assets and after verification, BuyUcoin will reimburse the fees into the BuyUcoin wallets of respective users. In addition to this BuyUcoin will offer 1% bonus on the transfer of digital assets to BuyUcoin platform.

BuyUcoin is India’s leading digital asset exchange operating since 2016. BuyUcoin has a large user base of over 1 million active users and offers VDA trading services across India. BuyUcoin has the widest range of digital assets available for trading on its platform with innovative and technology led services for a rich user experience. Being a pioneer in the digital asset industry, BuyUcoin was the one of the first Indian exchanges to initiate a regulatory sandbox in 2021 for increased collaboration between regulatory authorities and digital asset industry players. 

Building upon its robust track record, Justdial, India’s no.1 hyperlocal business search engine, witnessed remarkable financial growth, with Q3 FY24 revenue reaching its highest ever at ₹265.0 crores, marking an impressive 19.7% year-on-year increase. This substantial growth underscores the company’s resilience and adaptability in a dynamic economic landscape.

The net profit for the quarter soared to ₹92 crore, showcasing a 22.3% increase year-on-year, yet another record for the books. Justdial’s commitment to enhancing efficiency and cost control strategies has resulted in improved EBITDA margins, demonstrating a significant enhancement from the previous year’s performance.

Justdial has been consistently and steadily growing quarter on quarter since the past nine quarters. Reinforcing its position as a frontrunner in the Indian market, the company sustained its upward momentum. Operating EBITDA stood at ₹ 60.4 Crores, a 122.8% year-on-year increase, with EBITDA margin of 22.8%. PBT stood at ₹ 120.9 Crores, up 38% YoY.

Mr. Shwetank Dixit, Chief Growth Officer, Justdial, said, “In Q3, Justdial’s growth reflects our dedication to excellence, driven by focused efforts towards our business partners and consumers. Additionally, our emphasis on efficiency is evident through the adoption of generative AI and the implementation of process automation. Positioned as a forward-thinking company, we efficiently manage costs while optimizing revenues, navigating industry changes with resilience. Justdial remains dedicated to reshaping the way businesses and consumers connect in this ever-evolving digital age.”

With a focus on user-friendly features and accurate information, Justdial continues to foster high user engagement. The company expanded its network of active businesses during this quarter, taking the active business count to 41.6 million (as on 31 December 2023).

In line with our commitment to business excellence, Justdial proudly presents the Business Excellence Awards. With two successful editions completed, we have four more in the pipeline, targeting 40 cities this year. These awards not only recognize local businesses but also provide a networking platform and foster cross-selling opportunities. Beyond accolades, our mission extends to educating businesses on the effectiveness of digital platforms for growth, informing them about relevant government schemes for MSMEs, and guiding them on leveraging Justdial for success. We aim to be more than an awards program — a catalyst for holistic development in the digital age.

Justdial’s growth narrative is more than numbers; it is a testament to the company’s dedication to delivering quality services while creating value for businesses. The platform’s commitment to empowering small and medium enterprises remains steadfast, reflecting a consistent path towards success amidst challenges and uncertainties. The company remains poised for continued growth and success as it continues to pioneer advancements in the digital local search space.

Delhi 17th January 2024:  At a ceremony in Delhi on 11^th January 2024, Polymateria was honoured to receive the Technology Disruptors award at the 4^th Edition of the FICCI Circular Economy Awards 2024.

Introduced to recognize the effort put in the Circular Economy space by industry and individuals that have made notable contributions and brought in a change through their innovation and strategy[1], FICCI has recognized Polymateria for its innovative technology dedicated to addressing global plastic pollution crisis.

Polymateria is the first company in the world to prove scientifically that you can take the most likely sources of leaked plastic waste and return them to nature without creating microplastics and harming the natural environment, while remaining compatible with recycling systems at scale.

Receiving the award on behalf of Polymateria from Amitabh Kant, Deepti Gupta, Head for Growth & Partnerships at Polymateria, said: “We are truly humbled to receive this award from FICCI. Polymateria is committed to pushing boundaries and driving innovation in sustainable packaging to tackle one of world’s biggest environment challenges at scale.”

“I want to express my gratitude to our partners & clients for their support and to Polymateria’s amazing team for their continued excellence. This recognition only motivates us further to continue our journey of making a positive impact.”

Polymateria’s technology works through a process called Biotransformation. The technology activates when plastic containing the technology is exposed to nature, which causes the plastic to biotransform into a bioavailable wax. The wax attracts microorganisms like bacteria and fungi which safely digest it and return it to nature without harm. This process of full biodegradation happens in under 2 years and in many cases much faster.

The technology is tailored for a range of products, such as flexible polyethylene bags, films, and wraps, as well as rigid polypropylene products like cups, cutlery and straws – the most common plastic applications to pollute the environment.

With infinite scalability, Polymateriaaims to tackle the 32% of plastics which end up in nature each year globally.

MiniKlub, India’s premier kidswear brand, is delighted to announce the grand opening of its latest store in Mathura. This new addition to the MiniKlub family brings the brand’s commitment to quality, style, and comfort to the heart of Mathura, offering a diverse range of trendy and high-quality children’s clothing.

The new MiniKlub store is set to become a go-to destination for parents seeking the latest in kidswear fashion. From charming newborn essentials to chic outfits for 8-year-olds, the store is designed to cater to the varying needs of parents, providing a convenient and enjoyable shopping experience.

Ms. Anjana Pasi, Director of MiniKlub, expressed her enthusiasm about the new store, stating, “We are thrilled to open our doors to Mathura. MiniKlub is not just about clothing; it’s a celebration of childhood, and we are excited to bring our unique and stylish collections to the families here.”

Incepted in 2013, MiniKlub, from the house of First Steps Babywear, has emerged as a fast-growing omni-channel brand with a presence in over 450 plus multi-brand outlets, leading e-retailers and exclusive brand stores – both physical and online. Having successfully marked its presence in 28 cities with 65 exclusive brand stores. Inspired by the childhood spirit, Miniklub takes utmost care while designing the products for comfort and safety of the babies. Miniklub also takes pride in following sustainable manufacturing process while bringing the best quality products to the market. The retailer today operates 450+ multi-brand outlets with a solid presence on e-commerce platforms like Amazon, Myntra, Flipkart and Ajio. Miniklub also delivers across India through their own ecommerce platform www.miniklub.in

Gurgaon, 17th January 2024: As anticipation for India’s 2024 budget builds, real estate sector is eagerly awaiting policy measures that could shape the industry’s trajectory in the coming fiscal year and beyond. The Indian real estate market displayed exceptional resilience during 2023 across all asset classes, as optimism prevailed in domestic markets. Office and residential sector witnessed stronger than expected growth, while institutional investments remained sturdy asserting positive business sentiments. Stable interest rates, moderated inflation levels and positive growth of high-frequency economic indicators further supported growth in demand across real estate verticals.

As with typical election years in recent times, an interim budget will be presented in February 2024, followed by a detailed one post-elections. Although the interim budget in February will primarily be an account of government income and expenditure, experts believe specific measures will go a long way in shaping the economic growth trajectory across sectors. The Union Budget for the fiscal 2024-25can build upon the strong foundation set by earlier budgetary announcements and create a blueprint for targeted economic stimulus led by progressive reforms. At a time when the real estate landscape has been navigating through successive defining moments, the upcoming budget has the potential to act as a catalyst for the sector’s sustained long-term growth. Expectations for India’s 2024-25 budget in the real estate sector are multifaceted, encompassing affordability, liquidity, taxation reforms, sustainability, infrastructure development, and technological advancements.

“The real estate community looks at the upcoming budget with optimism, seeking a strategic roadmap that aligns well with evolving needs of stakeholders including end-users’ developers & investors. Housing, infrastructure development, sustainability and digitization will remain at the core of the budget, which will go a long way in supporting real estate growth across segments in long term. EV infrastructure, renewable energy and green financing will continue to remain in focus creating a strong base for a sustainable future. Incentivisation of green buildings through minimum alternate tax or tax breaks similar to infrastructure sector will be particularly beneficial. Meanwhile, retail investors are calling for additional rationalising of the capital gains tax structure. The Union Budget 2024-25 should explore initiatives to boost greater retail engagement in REITs and InvITs. Moreover, alterations to personal tax slabs have the potential to fuel consumption across various sectors, including real estate assets and allied sectors.” said Badal Yagnik, Chief Executive Officer, Colliers India.

 ‘Housing at the focus of budgetary announcements:

Demand side: Increasing the deduction limit for interest repayment on home loans can lead to higher disposable income in the hands of affordability of homebuyers especially for the EMI dependent ones. The existing limits of principal repayment of housing loans under section 80C can be raised further providing a boost to sales of housing units. Key expectations include the following:

• Separate & higher deduction for housing loan principal repayment, currently capped at INR 150,000 under section 80C.
• Limit on tax deduction on interest paid should be increased from the current INR 2 lakhs to about INR 3-4 lakhs in case of self-occupied property. In case of let-out property, limits can be dropped entirely.
• Interest exemptions under 80EEA and 80EE (applicable for first-time homebuyers in affordable housing) can be increased from current capping of INR 150,000 and 50,000 respectively.
• Reintroduction of tax exemptions for first-time homebuyers especially in the affordable segment.
• Standardisation and rationalisation in “Affordable Housing” definition across government schemes and financial institutions can help homebuyers qualify for cheaper financing options in the particular category.

Supply side: The real estate sector often grapples with complex tax structures, impacting both developers and homebuyers. Expectations include a re-evaluation of the Goods and Services Tax (GST) rates on under-construction properties and raw materials to improve affordability.

With the government’s ambitious “Housing for All” initiative at its final leg, there is a widespread hope for targeted incentives and subsidies to boost affordable housing projects. Potential measures could include tax breaks for developers focused on affordable housing, thereby encouraging increased supply to meet the rising demand in urban and rural areas. Furthermore, increased annual allocation for PMAY schemes, always prove to spurt demand in the affordable housing segment. Key expectations include the following:

• GST reduction on key raw materials such as cement, steel and aluminium will help in controlling project costs.
• 100% tax holiday for affordable housing projects under Section 80IBA to be re-introduced.
• Increased fund allotment through SWAMIH fund for improving liquidity in stressed residential projects.

‘Infrastructure’ status and higher spend to support real estate growth:

Infrastructure development will continue to remain the key focus in the upcoming budget, with continued fund allocation towards the sector. However, granting ‘infrastructure’ status to the sector remains a long pending industry demand which will ensure easier access to institutional credit and help reduce developer’s cost of borrowing.

At the same time, the budget needs to assess the progress of crucial infrastructure projects and continue laying strong foundations in the form of multimodal logistic parks, industrial corridors, ports, inland waterways, expressways and suburban railway systems through increased budgetary allocations and encouraging private participation. Additionally, there is a concerted demand for fast-tracking development of smart cities and intra-city infrastructure which will ultimately provide a supportive business environment to multinational companies including GCCs in Tier II locations of the country. Thus, key expectations include the following:

• Granting “Infrastructure status” to the real estate sector.
• Incentivising corporate tax structure for GCCs operating in India.
• GST reduction on transportation services to reduce the overall logistics cost.

Increased focus on sustainability and EV adoption:

Sustainability and green initiatives are gaining prominence globally, and the real estate sector in India is no exception. Incentivising investment in green bonds and renewable energy business would help India achieve net zero emission targets by 2070 and meet 50 percent of energy requirements from renewable energy sources by 2030. Extension of benefits under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme will be pivotal in promoting sustainable growth by providing subsidies for the purchase of EVs, alongside mandating EVs in public transport, logistics, and delivery sectors. Key expectations include the following:

• Tax incentives for developers to obtain green certifications.
• Subsidies for electric vehicles (EVs) to get extended under FAME scheme and shall also include light to heavy commercial vehicles in the scheme.
• Introduction of production linked incentives specific to companies associated with EV charging stations and battery manufacturing.
• Viability gap funding to companies especially startups in battery swapping and battery on- demand technologies.

Manufacturing push to remain competitive:

Manufacturing is one of the high priority sectors, considering its influence on the India’s growth trajectory. At present, the corporate concessional tax rate is extended for the domestic manufacturing companies incorporated on or before 31st March 2024 to promote new manufacturing startups. Key expectations include the following:

• Extension of concessional corporate tax rate of 15% for new segments within the overall ambit of manufacturing, transport and logistics and non-corporate taxpayers like LLPs and trusts as well
• Increased allocation of funds towards upskilling and vocational training in manufacturing sector including MSMEs
• Rationalization of import-export tariffs and expediting India’s integration into global supply chains

Rationalization of tax slabs and rates for individuals:

Taxpayers continue to hope for tax incentives from the government. Expectations include measures aimed at easing the tax burden on individuals, possibly through revised income tax slabs, increased deduction limits, or other progressive reforms. Further, owing to the rising healthcare costs, individuals can benefit from higher deduction limits on healthcare insurance and policies under section 80D. Moreover, simplification of capital gains tax regime will also be a welcome move. Further, investments made in REITs can get tax exemption which can provide a thrust to the investors.  Thus, key expectations include the following:

• Raising the tax exemption limit and revision of tax slabs
• Increased deduction under 80D from the existing INR 25,000 for individuals and INR 50,000 for senior citizens
• Allowing deductions to some extent even under the ambit of new tax regime
• Investments made in REITs to get exemption under section 80C, starting INR 50,000

Simplifying regulations and Ease of Doing Business:

Earlier budgets comprised measures to enhance the ease of doing business. The upcoming budget should carry forward the improvements achieved in enhancing ease of doing business by reducing compliance burden. The framework may also introduce simpler and specific tax & regulatory framework for private equity players, venture capitalists and start-ups to boost a healthy business environment. Key expectations include the following:

• Reducing excess compliances and adopting single window clearance mechanism for setting up new businesses
• Measures to expedite digitisation of land records especially for industrial and commercial usage

In conclusion, the budget has the potential to shape a more resilient and adaptive real estate industry, contributing significantly to India’s economic growth and development. As the government unveils its fiscal plans, the real estate sector is poised to respond to the opportunities presented, fostering a more vibrant and sustainable future.

Mumbai, 17th January 2024: Amazon miniTV – Amazon’s free video streaming service has been making waves with its path-breaking content library. Packed with romance, drama and glamour the streaming service unveiled a power packed trailer for their upcoming romantic comedy series, Badi Heroine Banti Hai today. The narrative of this romantic drama is all set to blow the audience’s mind with a glitzy backdrop of the high-profile fashion world and a mysterious twist in a classic storyline of how opposites attract. Created by Gul Khan, the series features Prerna Lisa, Rajeev Siddhartha, Nehal Chudasama, and Utkarsh Kohli in pivotal roles.

The trailer takes the viewers through the life of Kajal who is drawn into the glamorous world of fashion, with her life taking an opposite turn as she gets fired on the first day of her job. Here Kajal clashes with the charismatic CEO of the fashion house, Advait Singhania. The riveting trailer gives a glimpse of their crazy love story, which has all the colors of nok-jhok, passion, drama and suspense. With an engaging plotline, it is set to be a battle between these two opposite personalities, a series of comedy of errors and audiences will be taken on an emotional rollercoaster to witness if they find love or not?

Amogh Dusad, Head of Content, Amazon miniTV, said, “With Badi Heroine Banti Hai we bring yet another saga set in the world of fashion business! With its captivating narrative, strong on-screen characters, and powerful storyline, the show will strike a chord with young audiences.”

Talking about the series, Director, Gul Khan, shared, “Our collaboration with Amazon miniTV for Badi Heroine Banti Hai is another step towards creating an entertaining drama with a gripping narrative. With the increase in popularity of rom-coms among viewers and their high demand for captivating love stories, the series will be a delightful watch with an unforeseen twist. Bringing two opposite personalities together under the glamour of the fashion world, the narrative will unfurl their fates as they get tangled in love, fame, and blame.”

Adding to this, Rajeev Siddhartha who played an integral role in this series shared his thoughts. He said, “I feel elated to be a part of such an amazing and well-written show. Being part of the show has been an overwhelming experience for all of us owing to all the hard work everyone has put in. Badi Heroine Banti Hai is like a full package with a blend of romance, drama, laughter, thrill, and suspense. I will be seen playing the character of Advait, the owner of a leading fashion house who is known to be tough but also has a soft side. Keeping the thrill and romance alive, I really hope that the audience love this show that we have made with so much love.”

Directed by Gul Khan along with Lalit Mohan, season 1 of Badi Heroine Banti Hai will be available for streaming exclusively for free on Amazon miniTV from January 19. You can watch it on the Amazon shopping app, Fire TV, or download the Amazon miniTV app on Playstore.

Trailer Link: https://youtu.be/iVJwmEyzRSc

Mumbai, 17th January 2024: Cosmo First Ltd. is pleased to announce that Cosmo Plastech (Rigid sheets, Thermoforming & Injection Molding) has attained the FSSC 22000 food safety certification, a mandatory requirement for the packaging material coming in direct contact with food. FSSC 22000 contains requirements that help companies address risk in multiple areas from food fraud, food defense, food safety and quality culture, quality control, allergen management and environmental monitoring programs.

This certification is based on the existing internationally recognized standard ISO 22000 and complemented by technical standards, such as ISO TS 22002-1 for food manufacturing and ISO TS 22002-4 for packaging manufacturing.  Further, this is also consistent with other standards, such as ISO 9001 and ISO 14001 (including the alignment with ISO High Level Structure).

The FSSC 22000 certification includes several benefits for the company and stakeholders such as:

• Commitment to identify, evaluate, and control food safety hazards to avoid consumer harm directly or indirectly.
• Helps in meeting food quality/safety requirements and legal compliance.
• Provide a tool for food safety performance improvement, and the means to monitor and measure food safety performance effectively.
• Develop a good food safety culture which in turn improves customer confidence and aids in acquiring competitive advantages

Sharing his views on the certification, Mr. Pankaj Poddar, Group CEO, Cosmo First Limited said “The Global market is distinguished by its significant youth population, leading to a booming demand for fast food and packaged food. This trend indicates substantial growth potential for the food packaging sector. Therefore, obtaining the FSSC 22000 certification is a positive step for us as a group, enabling enhanced service to the industry.”

Commenting on this achievement, Mr. Sanjay Chincholikar, Business Head, Rigid Packaging said, “Achieving FSSC 22000 certification exemplifies our commitment to food safety and quality. Earning this rigorous accreditation required demonstrating a systematic and meticulous approach to food packaging production. We understand the critical role food packaging plays in safeguarding public health. By achieving FSSC 22000 certification, we take a proactive stance in guaranteeing the safety of both our clients and their end consumers.”

The Food Safety System Certification FSSC 22000 is applicable for the scope of sheet extrusion, thermoforming, injection molding, dry offset printing and/or sleeving of PP & HIPS based rigid plastic cups, lids, trays and sheets for food packaging application. 

India  January 17th, 2024: Moxy Hotels, part of Marriott Bonvoy’s portfolio of over 30 extraordinary hotel brands, is thrilled to announce the opening of Moxy Bengaluru Airport Prestige Tech Cloud, marking the brand’s debut in India. Introducing Bengaluru to a quirky and playful side of hospitality, the hotel is set to be the perfect social hub for both locals and travelers seeking a fun and adventurous retreat.

Located just 10 minutes from Kempegowda International Airport Bengaluru in North Bangalore, Moxy Bengaluru Airport Prestige Tech Cloud is strategically situated near the city’s iconic sites and major upcoming projects. Travelers looking to explore Bangalore’s beautiful blend of ultra-contemporary and traditional landmarks can visit the ISKCON Temple, St. Mary’s Basilica, and the National Gallery of Modern Art. Additionally, those interested in the city’s aviation history and technological innovations can explore the HAL Heritage Centre and Aerospace Museum and the British-era Opera House which offers virtual-reality experiences.

“As we continue to grow our portfolio of hotels, we take pride in the ability to stay true to ourselves and weave the playful nature of Moxy Hotels into the energy of Bengaluru with the opening of Moxy Bengaluru Airport Prestige Cloud,” says Ranju Alex- Area Vice President, South Asia, Marriott International. “We look forward to welcoming our fun-hunters to this dynamic city and experience Moxy’s playful spirit and disruptive hotel experience.”

Commenting on the launch, Irfan Razack, Chairman & Managing Director of Prestige Group, said, “It is with immense pride and gratitude we introduce the dynamic arrival of Moxy Bengaluru Airport Prestige Tech Cloud, marking the debut of Moxy Hotels in South Asia. It is a testament to our unwavering commitment to providing world class hospitality across different brand propositions. With its vibrant ambiance and modern flair, this new addition embodies the innovative spirit that defines the Prestige Group. With the launch of The Moxy Hotels we will offer travelers a unique and unforgettable experience in the heart of Bengaluru. We want everyone to experience this new age hospitality Moxy will bring, and we are proud that Moxy Bengaluru will be the first of its kind in India.”

Design + Amenities

Taking its cue from Bengaluru’s flair for art, design, and music, Moxy Bengaluru’s industrial-chic lobby features stylish artifacts, a graffiti wall featuring local artwork, and many Insta-worthy corners best enjoyed with background music that suits guests’ changing mood from day to night. The lobby is also the heart of the hotel designed to facilitate connections with an extensive game arcade, a library, and immersive spaces to foster co-working and play. Guests looking to stay fit while on the road can enjoy the 24/7 fitness center and 25-metre outdoor swimming pool, and delight in convenient amenities like the hotel’s car park and airport shuttle service.

The hotel offers 128 modern and cleverly designed rooms that include six suites. Modern amenities meet futuristic design with smart features like LED lights, keyless entry, and complimentary Wi-Fi. Each room also features modular furniture including Moxy’s signature wall-mounted pegs and foldable desks and chairs, giving guests the flexibility to adapt the room to their needs.

Eat, Drink & Play

Creating new waves in Bengaluru’s vibrant culinary scene, the hotel boasts a range of enticing F&B venues including Bar Moxy, its communal lobby bar that acts as a dining lounge by day and a social hub at night where guests can enjoy Moxy’s signature “Mood based Cocktails”. For those looking for a quick bite, Moxy Kitchen & Pickups offers all-day food and drinks with grab-and-go options. Adding to the fun is Layover, a vibrant pool bar that comes with its own DJ Booth personalized with bold graffiti.

Engaging local activations and innovative F&B programs, the hotel also provides various on-site activities that celebrate Moxy’s Play On spirit. Throwback Board Games and Dice Night will be a fun way to kickstart conversations and socialize, while weekly Movie Nights, the Dunk Wheel of Fortune and Jenga Wars can be enjoyed with family and friends.

Meeting and Events

The hotel features three meeting and event rooms with natural daylight, a pre-function area, and a 1000 sqm outdoor event space, along with food takeaway options.

“Bengaluru, as the nerve center of India’s high-tech arena, blends its art and cultural richness with the energetic pulse of the 21st century. The young, dynamic, and adventurous ambiance of Bengaluru provides the perfect backdrop for Moxy’s impressive debut in India” commented Anuradha Venkatachalam, Hotel Manager, Moxy Bengaluru Airport Prestige Tech Cloud. “We have created here a unique atmosphere where stylish, spirited, and diverse designs converge to create an immersive experience like no other. I believe, Moxy Hotels is more than just a brand; it’s a whole new VIBE, and we’re here to amplify the energy and create a stir in the hospitality scene in India! I’m excited to welcome our guests to Moxy Bengaluru Airport Prestige Tech Cloud, as we launch a fresh and new taste of hospitality.”

For more information, visit www.moxybengaluruairport.com and Play On #atthemoxy on Instagram and Facebook