Archives February 2024

Mumbai, February 15th, 2024: Sterlite Power, a leading power transmission developer and global products and services provider, announced the successful refinancing of the Lakadia-Vadodara Transmission project loan within 12 months of the project becoming fully operational in January 2023. The new financing from HDFC Bank, IIFCL and Bank of Baroda will enable prepayment of the existing project loan of approximately INR 1840 crores.

The new refinancing secures a reduced interest rate of ~8.25% p.a.p.m, a significant improvement over the previous terms. The overall tenure of the facility is ~18 years. As the first private sector inter-state power transmission asset to secure such favourable refinancing terms, this accomplishment reflects the keen interest of financial institutions in supporting power transmission projects that offer stable, long-term cash flows.

Commenting on the significant milestone, Pratik Agarwal, Managing Director, Sterlite Power said, “Refinancing our commissioned projects are in line with our efforts toward strategic reallocation of resources. Securing a better interest rate for the commissioned project further adds to our bottom line while delivering value to all stakeholders.”

The LVTPL project connects the 765/400 kV substation at Lakadia to Vadodara through a 335 km long, 765 kV double-circuit transmission line. With 812 towers spanning seven districts in Gujarat, this power transmission corridor is also one of the largest transmission assets built in India to date.

February 15, 2024: In what is its first product action after achieving one lakh sales in two years, Škoda Auto India has introduced the Slavia Style Edition of its best-selling, five-star safe, crash-tested sedan.

Speaking on the product, Petr Janeba, Brand Director, Škoda Auto India, said: “The Slavia Style Edition is yet another instance of us listening to our discerning customers and offering an extremely exclusive, yet high value product for our customers. It comes in very limited numbers, for a very focussed set of our customers, but will be accessible across our 200-plus sales touchpoints across India.”

The equipment

The Style Edition is slotted above the top-of-the-line Style variant of the Slavia. It comes standard with features like a Dual Dash Camera. It hosts an ‘Edition’ badge on the blacked-out B-pillars, black mirror covers and a Black Roof Foil. Inside, customers are greeted by a ‘Slavia’ branded Scuff Plate with the steering carrying an ‘Edition’ badge. Stepping out of the car will reveal a Puddle Lamp with the Brand Logo Projection.

The exclusivity

Škoda Auto India will launch 500 units of the Style Edition of the Slavia. All 500 will come exclusively with the 1.5 TSI engine mated to the 7-speed DSG automatic gearbox. Each of these 500 cars will also be adorned only with the Candy White or Brilliant Silver or Tornado Red paint options, as these shades have been specifically selected to contrast with the exclusive black elements on the roof and ORVMs of this Slavia. This Edition x all of its exclusivity and additional features is priced at a reasonable premium of ₹30,000 over the equivalent Style variant of the Slavia sedan.

Safety

The Slavia Style Edition carries forward the safety legacy of the Slavia coming standard with six airbags and a full 5-star rating for adult and child safety under Global NCAP’s newer, stricter test protocols. It further lengthens the company’s fleet of fully crash-tested 5-star-rated cars for adult and child occupants.

Made-for-India. Ready for the world

The Slavia sedan, like the Kushaq SUV, is based on the MQB-A0-IN platform that was developed specifically for the Indian market. The platform was jointly developed by teams in India and Czech with a focus on low maintenance costs, high localisation and quick turnaround times for service and spares, while retaining the traditional qualities of Škoda DNA like driving dynamics and safety, among others. The car is localised by upto 95% and comes with a standard warranty of 4 years or 100,000 kms and an optional warranty of upto 8 years or 150,000 kms with a plethora of maintenance and service packages to enhance the ownership experience and lower maintenance costs for the customer.

 Škoda Auto

• is successfully steering through the new decade with the Next Level – Škoda Strategy 2030.
• aims to be one of the five best-selling brands in Europe by 2030 with an attractive line-up in the entry-level segments and additional e-models.
• effectively leverages existing potential in important growth markets such as India, North Africa, Vietnam and the ASEAN region.
• currently offers its customers eleven passenger-car series: the Fabia, Scala, Octavia and Superb as well as the Kamiq, Karoq, Kodiaq, Enyaq, EnyaqCoupé, Slavia and Kushaq.
• delivered over 866,000 vehicles to customers around the world in 2023.
• has been a member of the Volkswagen Group for 30 years. The Volkswagen Group is one of the most successful vehicle manufacturers in the world.
• independently manufactures and develops components such as MEB battery systems, engines and transmissions as part of the Volkswagen Group; these components are also used in vehicles of other Group brands.
• operates at three sites in the Czech Republic; has additional production capacity in China, Slovakia and India primarily through Group partnerships, as well as in Ukraine with a local partner.
• employs over 40,000 people globally and is active in around100 markets.

Škoda Auto India

• fascinating customers in India since 2001.
• offers 3 models in India – Slavia, Kushaq and Kodiaq.
• present in more than 150 cities across the country with over 260 customer touchpoints.
• recorded more than 100,000 sales over the last two years.

Škoda Auto India website – www.škoda-auto.co.in

Škoda Auto India Communications X Handle – @SkodaIndia_PR

Bengaluru February 15, 2024: Zetwerk Manufacturing, a contract manufacturing marketplace for industrial and consumer products, announced today that it has been recognized as one of India’s Best Workplaces™ in Manufacturing 2024: Top 50 by the Great Place To Work® Institute. This marks the second consecutive year Zetwerk has received this prestigious honor, which acknowledges its excellence in creating a high-trust, employee-centric work environment.

Zetwerk‘s reputation is built upon its steadfast dedication to cultivating a workplace environment that places the well-being and empowerment of its employees at the forefront. Embracing a laissez-faire approach with a strong emphasis on individual ownership, Zetwerk‘s culture thrives on collaboration and high accountability. As an Equal Opportunity Employer, the company actively champions inclusivity through various initiatives, including:

• Offering menstrual leaves, women’s wellness programs, hobby clubs, and other support

• Systems.

• Implementing special referral programs to encourage diversity in hiring.

• Providing educational assistance programs for continuous learning opportunities for all employees.

• Partnering with NGOs to support employees passionate about social causes.

• Creating avenues for idea-sharing through events like Hackathons and Conclaves.

Zetwerk‘s unique initiative, “Zetshala,” fosters peer-to-peer learning through employee-led classes and workshops, while their AI-driven Chief Caring Officer platform, promptly addresses employee concerns, resulting in consistently positive double-digit eNPS scores. This initiative underscores the company’s unwavering commitment to employee well-being and ensuring that every team member feels heard and supported.

Ginu Nair, Senior Vice President, Human Resources, Zetwerk, said: “We are incredibly honored to be recognized as one of India’s Best Workplaces in Manufacturing for the second year in a row. This remarkable achievement is a testament to the unwavering dedication, collaboration and spirit of resilience that all of us have collectively cultivated and helped make this workplace what is today. We will continue our endeavor towards building a workplace that is a better version of ourselves everyday”.

Winston India launches its Valentine campaign with the theme ‘You are enough’. The campaign focuses on the importance of self-love, emphasizing that Valentine’s Day isn’t just about expressing love to others but also celebrating oneself. To make this valentine campaign a success, the brand collaborated with popular influencers including Tripti Bisht Gulati, Devansh Kamboj, and Kushal & Khushi. 

With #YouAreEnough, Winston embraces the art of love, reminding both the recipient and the giver that, like the allure of a gift box, they possess more than enough within themselves to captivate hearts and souls. The brand has rolled out the campaign on different social media platforms along with its authentic Limited Edition Gift boxes for both men and women. 

The Limited Edition Men’s Gift Box is a carefully curated selection of grooming essentials, including the Nut Groomer 1.0, Blackhead Remover, Callus Remover, and Foot Cream. This groundbreaking gift box is just enough to meet the grooming needs of the modern man. Simultaneously, the Limited Edition Women’s Gift Box features a 2-in-1 face and eyebrow trimmer, Blackhead Remover, Callus Remover, and Foot Cream. It is an ideal and comprehensive set which will enhance and pamper your beauty routine not only on this special day but is enough to make your grooming experience exceptional anytime and anywhere. 

Himanshu Adlakha, Co-Founder of Winston India comments on this launch by stating, “Self-love is the foundation of all relationships and what can be better to show this kind of love on this Valentine’s Day. The launch of our Limited Edition Gift Boxes is nothing but a token of appreciation for oneself or a loved one. On this special day of love, we hope that our customers feel the essence of self-love through our thoughtfully curated products. We envision users conveying the sentiment that just as this Winston Gift Box embodies completeness and delight, their loved ones—or even themselves—are inherently whole and cherished, just as they are.”  

The Limited Edition Gift Boxes are now available for purchase on the Winston India website and other platforms including Amazon, Flipkart and Nykaa. This Valentine, surprise yourself and your loved ones with the gift of self-care because love truly begins with you!

In line with its primary motto to promote the power of electric and the fundamental need to foster a green revolution, mXmoto, one of the emerging leaders in the clean mobility sector, has now introduced the Indian riders with the metal-strong M16 e-bikes. The all new high-efficiency electric vehicle boasts the pinnacle of strength and durability for the Indian roads.

Significantly, the M16 e-bikes by mXmoto come with 8-year warranty on battery, 80,000 Km of seamless riding and three-year warranty on motor and controller. Also, the highly resistant metal body of M16 makes it the strongest EV for the Indian roads, which can cover a range of 160-220 Km with each charge, consuming 1.6 units per charge and a charging capacity of 0 to 90 per cent in less than three hours.

“Our endeavour has always been to leverage cutting-edge technology to make the Indian roads greener and safer. With our M16 model, we aim to swiftly establish ourselves as pioneers in the world of performance electric bikes. With an unwavering commitment to innovation, engineering excellence, and a fervour for speed, mXmoto is on a journey to become the go-to brand for riders who crave adrenaline-fueled adventures on two wheels with our M16 cruiser,” mentioned Rajendra Malhotra, Managing Director of mXmoto.

The M16 cruisers of mXmoto come with a revolutionary 17-inch large wheel and high-performance engine; unleashing incredible power, quickness and efficiency. Developed domestically, catapulting the government’s self-reliant goals, the electric bike’s engine delivers an impressive output with swift acceleration, supported by the robust torque of the C35 magnet separations. With a remarkable climbing angle, it combines energy-saving features and high efficiency, redefining the standards of performance for the M16 Cruiser.

The high-performance controller of M16 increases input power by 16 per cent to stimulate higher performance of the bike’s driving system, resulting in smoother and faster acceleration. The 80 AMP high-efficiency controllers, equipped with regenerative braking, redefine the standards of power and efficiency. “Experience smoother and faster acceleration in our electric bike, as our advanced controller takes your M16 Electric Cruiser’s ride to new heights,” added Mr Malhotra.

Notably, with a chassis crafted from highly resistant metal, M16 Electric Cruiser showcases exceptional quality not only in its electrical components but also in its mechanical parts. The chassis & outer body ensure unparalleled strength and durability, reflecting the company’s commitment to delivering a superior riding experience. The bike also introduces an adjustable racing motorcycle-type central shock absorber, surpassing traditional bilateral suspension systems. Maintaining the electric bike’s gravity at the centre during turns, enhances flexibility and provides a heightened sense of balance.

mXmoto has always been committed towards ensuring not just high efficiency and performance but also the safety of the riders. With a robust focus on advanced safety features, rigorous testing, and a relentless pursuit of continuous improvement, MXMOTO places the well-being of M16 Cruiser riders at the forefront. By creating a secure riding experience, MXMOTO ensures that enthusiasts can embark on their adrenaline-fueled adventures with peace of mind.

M16 is equipped with Advanced Lithium Battery which boasts the highest level of safety in battery technology, enabling them to store a remarkable amount of energy in proportion to their size and weight. This advancement empowers electric bikes with extended range and prolonged riding times, rendering them highly practical daily commuting and longer journeys.

Other key features of the advanced M16 cruisers include dynamic LED headlight for unmatched visibility, triple-disc brake system for enhanced braking performance, LED Direction Indicators engineered with ultrasonic continuous welding technology, next-level EV connectivity with Smart App to maintain and maximize the power of the cruiser, and smart options for cruise control, reverse assist, anti-skid assist, parking assist, on-board navigation, on-ride calling and a Bluetooth sound system.

Delhi, India February 15th, 2024: Embarking on a soul-stirring odyssey, esteemed journalist Vinod Kumar Sharma unveiled his debut book, “Eight Hours in Ambulance,” at the prestigious World Book Fair held at Pragati Maidan, Delhi. The event marked a momentous occasion as attendees immersed themselves in the poignant narrative that promises to captivate hearts and minds alike.

“Eight Hours in Ambulance” is a tale that transcends the ordinary, inspired by a fleeting moment of reflection during a turbulent ambulance journey with the author’s ailing wife, Laxmi Sharma. What began as a whisper in Vinod‘s mind evolved into an enthralling biography, weaving the extraordinary life of Laxmi Sharma and capturing the essence of vulnerability and strength.

In this emotionally charged fiction, Vinod‘s narrative unfolds against the backdrop of pain and resilience, inviting readers into a world where reality and fiction meld seamlessly. Through the lens of a fictionalized yet profoundly human character, the fragility of existence and the indomitable human spirit take center stage, offering a riveting exploration of life’s remarkable journey.

Vinod Kumar Sharma, renowned for his distinguished 15-year career at the Indian Express and his commitment to positive change through organizations like the Heal Foundation, brings a wealth of experience and insight to his writing. Currently retired, Vinod serves as a consultant to a Swedish MNC while cherishing precious moments with his family in Noida.

Initiating his writing journey during his wife’s agonizing battle, Vinod transformed pain into a heartfelt tribute, immortalizing Laxmi’s spirit until her last breath. “Eight Hours in Ambulance” stands as a testament to love, resilience, and the enduring power of the human spirit, offering readers an intimate glimpse into a life well-lived.

New Delhi, February 15th 2024: B-Square Solutions, the single stop IT partner which has been successfully implementing a bouquet of diverse IT solutions and services all over the world for the last 20 years has announced bagging the contract from Shri Tirupati Enterprises, a leading manufacturer of Copper wire rods, headquartered in Bhiwadi, Rajasthan. Faced with challenges related to process optimization, quality control, and supply chain management, Shri Tirupati Enterprises recognized the need for a tailored ERP solution to streamline operations, improve data accuracy and maintain a competitive edge in the market. 

With a proven track record of delivering cutting-edge diverse IT solutions to varied sectors, B-Square quickly understood the requirements of Shri Tirupati Enterprises and customised its 5^th Generation ERP Solution, Pothera, to enable Shri Tirupati Enterprises address industry-specific challenges and enhance overall business operations.

Commenting on B-Square’s association with Shri Tirupati Enterprises, Mr. PKD Nambiar, Managing Director & CEO, B-Square Group, said, “The intricate nature of aluminium and die casting requires precision, which was challenging for Shri Tirupati Enterprises to maintain with manual processes. The use of multiple disconnected systems led to data discrepancies and errors impacting business and operational efficiencies right from procurement stage right up to the final output stage.  The need of the hour was to automate the entire production cycle starting from raw material procurement to inventory to production scheduling and final output. B-Square conducted an in-depth analysis of their unique requirements, emphasizing features such as work order management, quality control, and product traceability and presented a customised ERP package which also included a Human Resource Management module enabling Shri Tirupati Enterprises relieve its HR department of the bulk of paper work in its daily activities”.

Commenting on B-Square’s custom-solution ERP to Shri Tirupati Enterprises, Mr. Ravish Gupta, Partner, Shri Tirupati Enterprises said, “One of the pioneering companies in copper rods, Shri Tirupati Enterprises has been combing the marketplace to streamline its systems and processes. We felt that ERP was the best bet. B-Square’s solutions fitted our requirements like a glove. By partnering with B-Square we are moving in the right direction in implementing our ERP Solutions. The credibility and thought processes of B-Square and Tirupati Enterprises is a lot similar and we are confident this partnership will be etched in history”.  

15th February 2024: Bahrain Tourism and Exhibitions Authority (BTEA) marked its first post-pandemic participation in India at the Outbound Travel Mart (OTM) 2024, Asia’s premier travel show. The event, held at the Jio World Convention Centre in Mumbai from February 8 to 10, 2024, provided an exceptional platform for Bahrain to actively engage with the Indian market, with a particular focus on developing the MICE, wedding and leisure segments.

Throughout the three-day event, BTEA representatives engaged in fruitful interactions with the travel fraternity of India, highlighting the island destination’s appeal for holidays and events. Additionally, BTEA’s booth received the prestigious ‘Best Design and Decoration’ award, underscoring its commitment to excellence at OTM 2024.

Ms. Sally Sedky, Head of Tourism Marketing at Bahrain Tourism and Exhibitions Authority (BTEA), emphasized on India being a key market, said, “Participating in OTM 2024 enabled us to showcase Bahrain’s vibrant tourism offerings to the Indian market. Our interactions during the event with industry professionals and media have been essential in strengthening ties and elevating Bahrain’s position as a top choice for Indian travellers.”

With a commitment to showcasing Bahrain’s diverse tourism offerings, BTEA presented a contingent of 11 esteemed partners. This association included Gulf Air, Bahrain’s national carrier; Exhibition World Bahrain; The Gulf Hotel Bahrain; The K Hotel Bahrain; Lagoona Beach Luxury Resorts and Spa; The Westin, Le Méridien City Centre Bahrain; and prominent Destination Management Companies (DMCs) such as Caravan Travel and Tours, Vacanza Bahrain, Farhat Tours, Bahrain International Travel, and Best of Bahrain.

Bengaluru India, 15th February 2024: Moove, the world’s first mobility fintech, today announced that it has secured $10 million in new debt funding for India from Stride Ventures, the largest venture debt fund in the country. This marks the fintech’s maiden debt funding from an external party in India and solidifies Moove’s commitment to democratizing vehicle ownership for mobility entrepreneurs.

The capital will be deployed to strengthen Moove’s presence in the country by expanding into new cities such as Delhi, Pune, and Kolkata. With a focus on continued growth in the Indian market, the company will expand its fleet, bringing the total number of vehicles to more than 5,000. With the India business headquartered in Gurgaon, Moove has already established a strong presence in Bengaluru, Mumbai, and Hyderabad since launching a year ago.

Binod Mishra, Regional Managing Director, India and South Asia, Moove, stated, “We’re delighted to announce our partnership with Stride Ventures, marking our first-ever debt facility in India. Being facilitated by such a premier investor not only validates Moove’s impact-driven model and growth potential but also paves the way for an additional revolving line of credit amounting to $10 million. Our vehicles have completed over 4.2 million trips, significantly impacting India’s mobility sector. With the robust support of Stride Ventures, we stand on the cusp of transforming vehicle ownership nationwide, propelling our mission forward”

Apoorva Sharma Managing Partner at Stride Ventures highlighted the transformative impact of their partnership with Moove, “At Stride, we’re supporting companies that are crafting impact-driven models within the country, especially organizations like Moove, known globally for their inclusive business framework in the fintech and mobility industry. Our alliance with Moove is set to transform vehicle ownership accessibility throughout India, marking a significant leap towards social and economic advancement.”

Established in 2020, Moove has been a pioneering force in transforming global mobility by embedding alternative credit-scoring technology onto ride-hailing platforms. This enables the company to underwrite loans for customers who have traditionally faced exclusion from financial services. Operating in 9 markets across Africa, the Middle East, Europe, and Asia, Moove has emerged as Uber’s #1 vehicle supply partner in EMEA and its largest global fleet partner. Currently, over 30 million trips have been completed in Moove-financed vehicles globally.

For more information on Moove and its mission to financially empower mobility entrepreneurs globally, visit https://www.moove.io/en-IN