Archives February 2024

Amethyst presents Shades of India‘s latest festive collection “The Falaknuma” inspired by the rich Nizam culture of Hyderabad’s opulent bygone era with an eclectic mix of jewel tone colours that infuse timeless luxury into each piece. In celebrating this collection, they pay tribute to all the women at Shades of India endorsing the elegance of Indian textiles from 11am to 7.30pm on Wednesday and Thursday, February 7th and 8th, 2024 at Amethyst, Whites Road, Royapettah, Chennai. Contact: 044 45991630 /31.

The Falaknuma

What truly sets this collection apart is the Khanjar Lace, a rare and exquisite craft, painstakingly handcrafted by Afzal Mia and Laddha Ji from the old bazaars of Hyderabad. The lace along with the hand embroidery, a unique amalgamation of metal wires and metal sequins which acquired a beautiful old vintage look over time, adding a unique dimension to the collection. This craftsmanship reflects their commitment to artistry and quality.

Mandeep Nagi says, “It starts from my madness of collecting old borders for many years. Some of these are very special as I don’t commonly see them anymore. These fine metallic (silver) woven borders, which were often used in traditional clothing from Gujarat, Rajasthan, Banaras and in old Deccan textiles, I have always been fascinated and looked out for them in the bazaars of different cities. Finally, in so many years, my pursuit was successful when I discovered these very beautiful metallic borders being still handwoven by very few in homes of old Hyderabad. I am so happy and proud to share my dream of using these unusual borders called “Khanjar” in this limited-edition collection called Falaknuma.” Sample of old khanjar borders.”

Picture 1 & 2 – The first edition of MSME Sampark report launched by Dr. Arun Singh: Global Chief Economist, Dun & Bradstreet, Mr. Avinash Gupta: Managing Director & CEO, India, Dun & Bradstreet and Mr. Shachindra Nath: Founder & Managing Director, U GRO Capital

Chennai, 07th February, 2024:India’s Micro, Small and Medium Enterprises (MSME) ecosystem plays a vital role in shaping and growing the country’s economy. Post the COVID-19 pandemic, that is, from FY21 to FY22, the contribution of MSMEs to India’s Gross Value Added (GVA) has grown significantly. A joint report by U GRO Capital and Dun & Bradstreet, titled ‘MSME Sampark Bi-annual report on the latest in MSME lending ecosystem’, takes a close look at where the Indian MSME segment is positioned now after having stepped out of the COVID-19 pandemic, the credit scenario in the segment, the formalisation of credit in the segment and the increasing ticket size of loans, among others. The report also signals optimism for domestic demand and profitability and is highly optimistic of the increasing capex and hiring by MSMEs which bodes well for the overall growth momentum.

Shachindra Nath, Founder and Managing Director, U GRO Capital, said: “This report highlights the critical role that MSMEs play in shaping the destiny of the Indian economy. It takes a deep dive into the nuances of the MSME sector, shedding light on its resilience, innovation, and the pivotal role it plays in fostering economic growth and employment.”

Avinash Gupta, MD & CEO – India, Dun & Bradstreet, said “India aims to be a US$30 trillion economy by 2047, roughly 8x increase in two decades. MSMEs contribute nearly a third of India’s GDP. It is imperative that MSMEs scale up significantly and quickly, necessitating estimated US$11.5 trillion financing requirement in fixed assets. The MSME Sampark report jointly produced by Dun and Bradstreet and UGRO Capital aims to track MSMEs performance, credit behaviour and financial environment on a bi-annual basis. We have observed that businesses optimism of MSMEs has soared to the highest level since 2022, indicating improvement in performance even in the face of difficult external environment. Moderate delinquency rates and low sector risks have also improved MSMEs borrowing prospects. The Government’s continued thrust on formalization is furthering the formal credit penetration in the sector”.

The MSME Segment: Where It Stands Now:

Post-pandemic, India is one of the fastest growing major economies. India’s real gross domestic product (GDP) at constant prices (2011-12) grew by a faster-than-expected 7.6% in the July-September quarter of 2023. For the full financial year, the economy is expected to register 7.3% growth, compared to 7.2% a year ago.

In this background, the report says that post-pandemic, good recovery was seen in smaller entities, though at a slower pace than the larger ones: over 50% of entities with turnovers less than Rs 10 crore witnessed Year-on-Year (YoY) growth of over 10%, compared to ~60% for higher turnover entities. Over a three-year period, 25,000+ MSMEs were studied to prepare this report. The study showed a dip in business and sales activity in the year of the pandemic, followed by a massive 77% of customers showing resumption of activity in the first year after the pandemic, and over 68% of customers showing over 10% Y-o-Y sales growth in the second year after the pandemic. As a result, risk levels have fallen and delinquency rates have improved in the MSME segment which, in turn, is improving the prospects of borrowings by MSMEs.

This is resulting in increased credit growth and the share of credit disbursed to MSMEs by Scheduled Commercial Banks (SCBs) and non-banking finance companies (NBFCs) 

MSME’s Credit Standing

According to the report, MSMEs are increasingly realising that to grow, getting formal recognition is vital, which will help them receive credit from formal institutions (banks and NBFCs) and the various benefits offered by ongoing and future schemes from the government. This is seen from the fact that since the inception of UDYAM in 2020, MSME registrations on the platform have increased 2.4 times, while they have generated 1.6 times more employment opportunities by FY23.

A study done across 10,000+ micro-sized MSMEs shows rising credit penetration in the sector reflecting the lenders’ positive view on their resilience and recovery.

Formalisation of Credit

Formal credit penetration to MSMEs is expected to increase as the government acts proactively towards the formalization of MSMEs.

India’s credit penetration of 52% is the lowest among its Asian peers: China stands at 185%, South Korea at 175%, and Vietnam at 126%. The Bank credit to Gross State Domestic Product (GSDP) ratio for the majority of states is below the national average; only Maharashtra, Telangana, Tamil Nadu and Delhi have credit to GSDP ratio penetration above the national average. Now, as the MSMEs get formalized through the various direct and indirect incentives that the government (Central and State) undertakes, formal credit penetration to MSMEs is expected to increase. Also, thanks to the various policy interventions taken by the government to increase the productivity and competitiveness of MSMEs, skill development, technology upgradation and market access, MSMEs are likely to grow which is crucial in sustaining the current momentum.

Increasing Ticket Size of Credit

Ticket size of loans by lenders to MSMEs has increased post-COVID-19, while approval rates have fallen indicating cautiousness after the removal of pandemic relief measures.

Healthy penetration of credit is seen across sectors and geographical footprints across the studied universe of business entities. Interestingly, smaller entities are seen borrowing more relative to their scale of business to meet capital needs during a growing phase. Maharashtra, Gujarat, and New Delhi top the list in the distribution of debt, while Light Engineering, Hospitality, and Healthcare are the sectors that attracted the most debt.

Key Highlights of the report

• Global growth slowed markedly in 2023, and we expect growth to remain subdued in 2024. With a growth rate of 7.3% in FY23, India is poised for a strong growth in FY24.
• We understand that a robust MSME activity will be pivotal to India’s growth story.
• MSME sector in India continued to demonstrate resilience and growth. Since its inception in 2020, MSME registrations on UDYAM have increased by 2.4 times by FY23, while they have generated 1.6 times more employment opportunities.
• Despite the ongoing global economic slowdown, the optimism level among small businesses persists reaching a peak in Q4 2023, the highest since 2022.
• Dun & Bradstreet’s proprietary risk rating score of MSMEs indicate that risk to MSMEs moderated in 2022 compared to 2019.
• Low risk in the MSME sector and declining delinquency rates are enhancing the borrowing prospects for MSMEs. Both SCBs and NBFCs share of credit to micro and small firms has increased in FY23 compared to the pre-pandemic period.
• Post pandemic, ticket size of loans by lenders to MSMEs has increased while approval rates have fallen indicating cautiousness after the removal of pandemic relief measures.
• The drop in the approval rate is greater in PSUs for both the medium risk and high-risk firms while NBFCs remain the most cautious for the high-risk firms.

Highlights of the sectors covered in the report:

Light Engineering

Among MSMEs, enterprises in the iron, steel and other metal works have the highest market size and it is also the most efficient sub-sector in terms of debt to total turnover across various sizes of entities. While enterprises in this sector are seen across India, Maharashtra is the dominant market with subsector hubs such as Gujarat for plastic/ glass/ ceramic products.

Food Processing

Animal or vegetable fats/oils and waxes, edible preparations, fruits, nuts, and cereals are the major contributors to the food processing sector in the MSME segment. Cash dealings are the highest in this sub-segment compared to other sectors. While there is a presence across India, the dominant markets are Maharashtra, Gujarat and Rajasthan.

Electrical Equipment

Miscellaneous equipment and appliances, heavy equipment/office machines, electrical circuit components, and electronics equipment in communications are the other dominant sub-industries. It has a pan-India presence, with Maharashtra being the dominant market, and Gujarat and New Delhi being sub-sector hubs.

Chemical Industry

Half of the turnover in this sub-sector is accounted for by organic chemicals, inorganic chemicals, and fertilisers. It has a pan-India footprint.

Healthcare

Healthcare delivery and service (dealers, distributors, hospitals, diagnostic centres) account for the lion’s share of the market and recipients of a majority share of credit to the sector. As in other sectors, smaller entities (dental clinics, eye clinics and pharmacies) require growth capital, which can be met through various business loan and equipment financing solutions.

Auto Component

Vehicle and vehicle parts contribute to a major part of the Auto component industry, whereas Hotel, Food, Transport and Manpower services form a majority of the market and are recipients of a larger share of credit. 

Methodology of the Report

The report leverages various public and Dun & Bradstreet’s data cloud to analyse overall MSME segment’s health and credit requirements. Detailed financial analysis of sample MSMEs firms in eight sectors are undertaken to understand and risk dynamics. The report includes insights derived from niche study of 25,000+ MSME’s financial and repayment performance over 3-year timeframe. These MSMEs have a turnover of less than 100 crores and operate in UGRO focussed sectors.

Mumbai, 7th Feb 2024: Amazon miniTV, Amazon’s free streaming service, has been making waves with its engaging content library. The streaming service offers a wide range of content – from romance to thrillers to inspirational dramas – to meet the streaming requirements of its discerning audiences. Recently, Amazon miniTV released the much-anticipated entrepreneurial drama series Hustlers: Jugaad Ka Khel. With an impressive rating of 8.3 on IMDB, this captivating series follows the life of Sanjay Sharma (played by Vishal Vashishtha), who hails from a small village near Kota and is constantly triggered by comparison and competition at home. The black sheep of his middle-class family, always referred to as “Manoj ka chota bhai”, he makes it to IIE Bombay, which marks a stepping stone in his journey. Through determination and hard work, Sanjay rises to the top and establishes his name in the competitive start-up industry, earning widespread recognition in his hometown.

Sharing tidbits about the entrepreneurial drama series, actor Vishal Vashishtha reveals he wasn’t originally offered the lead role of Sanjay Sharma. He shared, “Although I was roped in for Hustlers, I wasn’t originally going to play Sanjay. It so happened that the team later approached me to essay the role of Sanjay. I was really looking forward to playing the part that I was initially offered because it seemed far from who I was, and brought something new to the table. But when Sanjay was offered to me, I was obviously super excited. After all, he is the protagonist, and the show revolves around him. It was an opportunity I didn’t want to miss.”

Adding to this, Vishal also shared his opinion on the current start-up scenario in the country, saying, “First of all, the fact that people of India have the courage and the vision to venture into the start-up ecosystem is commendable in itself. It’s also wonderful how so many individuals are coming up with their unique contributions to society as well as the nation at large.”

Produced by Rainshine Entertainment and headlined by Vishal Vashishtha, Samir Kochhar, Maharshi Dave, Anjali Barot, and Anurag Arora, Hustlers: Jugaad Ka Khel is streaming exclusively on Amazon miniTV for free, available on Amazon’s shopping app, Fire TV, and Play Store.

Maharashtra, 07th February, 2024: Global Alliance for Mass Entrepreneurship (GAME) and Mahila Arthik Vikas Mahamandal (MAVIM) today announced that both parties have entered into an MoU to work together on specific initiatives, interventions, and programs for the facilitation and growth of women entrepreneurs in Maharashtra, under the Maharashtra State Entrepreneurship Mission (MSEM).

MAVIM’s self-help group (SHG) movement today covers more than 20 lakh women in Maharashtra, through a network of 259 community-managed resource centres (CMRCs). It has been recognised by the International Labour Organisation, and is the State Women’s Development Corporation of the State Government of Maharashtra.

Speaking of the collaboration, Mr. Ketul Acharya, President, Global Alliance for Mass Entrepreneurship (GAME), said, “We are delighted to collaborate with MAVIM in alliance with Maharashtra State Entrepreneurship Mission. This partnership aims to empower women entrepreneurs, with a special emphasis on green entrepreneurship, access to credit and access to market through digital platforms. This collaboration will further boost efforts to enhance women’s participation in the economy of Maharashtra and India and will have a significant impact on fostering economic growth and empowerment.”

Under the ambit of the MSEM, partners who have come together to work on this goal include Small Industries Development Bank of India (SIDBI) on the NBFC accelerator program, Amazon Saheli on the Women Economic Empowerment program, and the SELCO Foundation on green entrepreneurship.

Ms. Maya Patole, MD, Mahila Arthik Vikas Mahamandal (MAVIM), shared, “Our work across the state of Maharashtra has already become a model for several other states nationally. With GAME, our work will extend across baseline surveys, gap analysis, program development, and execution, across mentorship, financial linkages and more. Whether it is access to finance, regulatory understanding and compliance, or bringing renewable energy to the nation’s MSME base, we intend for this partnership to provide all of these to the women’s economy of the state of Maharashtra”.

Under the scope of the Maharashtra State Entrepreneurship Mission (MSEM), the partnership will focus on the six districts of Thane, Nagpur, Ahmednagar, Amravati, Chandrapur, Jalgaon, to begin with.

Ahmedabad, 07th February 2024:Adani Total Gas Ltd (ATGL), India’s leading city gas distribution company and INOX India Ltd (INOXCVA), one of the world’s leading cryogenic liquid storage, distribution and re-gas solutions provider based in Gujarat, have entered into a mutual support agreement, under which ATGL and INOXCVA shall mutually accord a “preferred partner” status for the delivery of LNG and LCNG equipment and servicesfor identifying and exploring possible collaboration opportunities for strengthening the LNG ecosystem in the country.

As preferred partners, ATGL will have certain inherent project level benefits, which includes preferential treatment to ATGL and access to advanced scheduling, and consideration for collaborative opportunities for establishing LNG/LCNG stations, LNG satellite stations, transitioning to LNG as a transport fuel, LNG logistics, as well as developing small-scale liquid hydrogen solutions for the industry.

The mutual support agreement covers role and obligations on either side to leverage expertise of both the Parties to develop the LNG Infrastructure including small-scale LNG plants, LNG stations, bringing economy of scale for conversion of heavy vehicles on LNG, developing best practices towards HSE, fuel efficiency, high quality conversion and services.

Speaking on the collaboration, Suresh P Manglani, Executive Director & CEO, ATGL said, “Air pollution and greenhouse gas (GHG) emissions are on the rise. With the ongoing rapid industrial growth and huge increase in heavy vehicles for transportations of goods, challenges will become even more formidable going forward. This partnership with INOXCVA shall help ATGL in furthering phased transition of long-haul heavy vehicles, buses currently using HSD/diesel to LNG, thereby helping over 30% reduction in CO2 and GHG emissions. ATGL will also fast-track setting up of LNG stations across the country for boosting the confidence of fleet operators to embrace LNG as transportation fuel.”

Speaking on the collaboration, Siddharth Jain, Promoter and Non-Executive Director, INOXCVA said, “As our economy prepares to go an overdrive, it is imperative that we also maintain a focus on ensuring that the transition happens in a sustainable manner. We are, therefore, excited about our cooperation with ATGL, which would look to strengthen the LNG ecosystem and building& promoting LNG as a transport fuel. Our combined synergies, backed by expertise and scale of both the Parties will truly benefit the stakeholders in the economy in reducing emissions, and make significant contributions towards the green transition.

Chennai, 07th February, 2024:  Bhumi, India’s largest volunteering organization, revealed the Nakshatra Sports 2024, This one-of-a-kind event, spearheaded by Dr. Prahalathan K K, Co-founder of Bhumi, and Ms. Vaishnavi Srinivasan, Executive Director, of Bhumi, focuses on nurturing sportsmanship, providing exposure to underprivileged children, and creating a platform for holistic development through various sports activities.

Nakshatra Sports, organized by Bhumi’s Ignite Communities team, will involve over 900 underprivileged children across 21 community centers in North Chennai, Central, and South Chennai, encouraging them to explore their talents in various sports.

Supported by Larsen & Turbo, Maveric, DSV, VMWare, Kyro, and ASHA, this event encompasses a wide range of activities, including track events such as 100M, 200M, and 4x100M relay; field events like long jump, shot put, and sack race; indoor games like chess, carrom, and lemon spoon; and team sports such as kabaddi, kho-kho, throwball, and football.

Sharing her thoughts on the event, Ms. Vaishnavi Srinivasan, Executive Director, Bhumi, said, “This initiative is pivotal in providing exposure to children who rarely encounter such opportunities. Nakshatra Sports is a platform for these children to showcase their abilities, fostering self-confidence and challenging prevailing gender stereotypes. Events like Nakshatra hold up Bhumi’s commitment to nurturing not only the intellectual but also the physical and emotional well-being of underprivileged children. It’s heartening to witness the positive impact of sports on their lives.”

Bhumi operates on a volunteer-driven model, with trainers from the community playing a pivotal role. These volunteers, including coaches and sports enthusiasts, not only train the children but also instill values of teamwork, self-discipline, and sportsmanship. Over 100 volunteers contribute to the success of Nakshatra Sports, managing everything from logistics to event operations.

Mumbai,07th February 2024: Recyclekaro, one of the leading e-waste and lithium-ion battery recycling companies in India, has entered into a Memorandum of Understanding (MOU) with Bhabha Atomic Research Centre (BARC), India’s foremost nuclear research institution. The collaboration aims to utilize/leverage BARC’s advanced technology for the extraction of high-purity copper oxide nanoparticles from depopulated printed circuit boards (PCBs).

The produced copper oxide nanoparticles hold immense potential as a catalyst for various industrial processes, antibacterial coatings for medical and electronic devices and sensors, as well as conductive inks and water purification. Beyond the evident environmental advantages, this strategic move is poised to create a positive socio-economic impact by generating employment opportunities throughout the PCB recycling process, from collection and transportation to processing and manufacturing of recycled materials.

Notably, the recovery of precious metals from PCBs not only proves economically viable but aligns with circular economy principles, providing essential raw materials for manufacturing. In light of stringent regulations governing electronic waste disposal in India, this collaborative effort underscores Recyclekaro’s unwavering commitment to sustainability.

Speaking on the association, Mr. Rajesh Gupta, Founder & Director, Recyclekaro, said, “At Recyclekaro, we are committed to exploring innovative methods within the recycling industry. This MOU represents a significant step in advancing our technological capabilities. Our ongoing research and development efforts are driving progress in sustainable technologies and waste management practices, underscoring our commitment to environmental responsibility and our contribution to a more sustainable future.”

It’s encouraging for Recyclekaro to actively contribute to the efficiency and sustainability of PCB recycling operations using the advanced technologies, aligned with global environmental goals, which emphasize the essential role of technology in addressing electronic waste challenges and promoting responsible resource management. This collaboration reflects our dedication to advancing a cleaner and greener future, and we’re pleased to be part of initiatives that positively impact the ecosystem.

Rich in metal content, PCBs are considered a high-value waste. India generates around 3.2 million tons per year of electronic waste, which contains many precious materials. PCB recycling stands as a cornerstone for resource conservation, environmental protection, and economic growth.

Recyclekaro is currently in the stage of establishing its Nickel Metal plant and is in ongoing discussions with new partners for technology transfer, aiming to strengthen the ecosystem. This strategic approach aligns with our commitment to environmental sustainability and the cultivation of a robust Circular Economy and Urban Mining model.

ENGIE, a renowned leader in low-carbon energy solutions, is set to highlight its decarbonization and green energy initiatives at the prestigious India Energy Week 2024, in Goa from February 6^th-9^th 2024 organized by the Federation of Indian Petroleum Industry (FIPI), under the aegis of the Ministry of Petroleum and Natural Gas. IEW 2024 will serve as a catalyst for meaningful discussions, knowledge exchange, and collaboration among industry experts, policy makers, academia and entrepreneurs.

As a key contributor to global energy transition, ENGIE is committed to delivering innovative and sustainable energy solutions that aligns with the evolving needs of the energy market.

Amit Jain, CEO and Country Manager India, ENGIE expresses his vision, “With over 2+ GW RE portfolio, ENGIE has made significant strides in the Indian market. ENGIE has been at the forefront of implementing 20 projects across India that will integrate renewable energy solutions seamlessly. At ENGIE, we understand the importance of a sustainable energy ecosystem and are actively working towards providing our stakeholders with innovative solutions that not only meet the energy needs but also aligns with global decarbonization goals.”

With a portfolio of 2+ GW capacity, ENGIE has achieved considerable success spread across 20 projects strategically located in key states of India such as Tamil Nadu (252 MW), Gujarat (29.9 MW), Raghanesda (290 MWp), Mirzapur (101 MWp), Bhadla (190 MWp), and Kadapa (350 MWp).

Recently, ENGIE successfully secured a 400 MW solar project in Gujarat, significantly contributing to the state’s clean energy transition. In addition, ENGIE was awarded 300 MW Solar Power Project under the auction conducted by REC Power Development and Consultancy (RECPDCL) and 250 MW Solar Power Project in the National Hydroelectric Power Corporation (NHPC) solar auction. These initiatives align with ENGIE’s vision of advocating environmentally responsible practices, making substantial contributions to India’s ambitious renewable energy targets.

The company’s portfolio underscores a dual-pronged growth strategy, marked by the expansion of operations and construction activities across Africa, Middle East and Asia.

ENGIE’s presence at IEW 2024 reinforces the company’s efforts to create a secure and sustainable energy ecosystem. Leveraging industry exhibitions of this caliber provides ENGIE the platform to introduce innovative initiatives and cultivate strategic partnerships, making a substantial contribution to India’s ongoing journey towards embracing green energy.

India,07th February 2024: Mindsprint, a leading provider of purpose-built industry-first digital solutions and services, was recognized with the “Most Valuable Partner Award 2024” in the “Platform Evangelist” category during the KYP.AI Forward 2024 Partner Event held in Berlin.

Mindsprint’s journey with KYP.AI commenced as a customer, evolving into a strategic partnership. The company actively contributed to shaping the success of KYP.AI’s platform, working hand-in-hand to enhance its performance. In 2023, the company became proud implementation partners for KYP.AI, solidifying a collaborative alliance that has propelled both organizations to new heights.

This accolade emphasizes Mindsprint’s exceptional dedication to innovation, collaborative excellence, and its integral role in the success of strategic partners, notably KYP.AI.

“At Mindsprint, we extend gratitude to our dedicated team for their unwavering commitment and hard work, without which this achievement would not have been possible. We also express our heartfelt thanks to KYP.AI for providing a platform that empowers us to thrive and contribute significantly to the success of our clients. This award marks a significant milestone in Mindsprint’s journey, showcasing its commitment to excellence and innovation. We look forward to continued collaboration, growth, and reaching new milestones together with KYP.AI”, said G Venkataramanan (GV) – President & Business Head – Business Process Services, Mindsprint

“Mindsprint has demonstrated exceptional prowess in maximizing the potential of KYP.AI platform, internally and for their customers. Mindsprint doesn’t just stop at implementation; they continue to play a pivotal role in the product development process and in our joint commitment to continuous improvement and innovation”, said Dr. Adam Bujak – CEO and Co-Founder – KYP.AI

Demonstrating exceptional digital proficiency, Mindsprint has successfully maximized the potential of KYP.AI platform, both internally and for external customers. Mindsprint distinguishes itself by not only serving as an implementation partner but also playing a pivotal role in the product development process for KYP.AI. This collaboration has translated into successful wins of third-party contracts by BPS, demonstrating tangible business growth and the impact of the strategic partnership.

New Delhi, February 07, 2024: Elista, India’s leading manufacturer of electronics, home appliances, IT & mobile accessories products, today announced its foray into the fast-growing Air Conditioner segment, to cater to the customers’ cooling requirements ahead of the onset of summers. The 4 in-1 convertible, Inverter AC & Fixed speed AC range, proudly ‘Made in India’, embodies a seamless fusion of cutting-edge innovation and technology features, revolutionizing indoor cooling experiences. 

Tailored specifically for the unique demands of the Indian summer, these Air Conditioners are equipped with Turbo Cool Power Chill mode, ensuring rapid cooling and immediate relief from the intense summer heat. Elista‘s Air Conditioners are outfitted with advanced Blue Fin Technology, providing robust protection for the coils. All three ACs have 100% copper made condensers and the innovative C-Shaped evaporator design, which collectively enhance the efficiency of heat transfer, setting new benchmarks in cooling technology. 

Commenting on the launch, Mr. Pawan Kumar, CEO of Elista, said, “The launchof Elista Air Conditioners further strengthens our ecosystem in India. This launch is a testament to Elista‘s deep understanding of the varied needs of Indian consumers, achieved through our focus on India-centric technological solutions and competitive pricing. Our latest AC range is tailored to deliver top-tier features and performance, aligning with the specific demands of the Indian market. Key features like the anti-rust design, advanced Inverter technology, efficient cooling, and stabilizer-free operation reflect our dedication to integrating state-of-the-art technology in our new product line. Proudly manufactured under the ‘Make in India’ initiative, we are optimistic that this launch will play a crucial role in reaching our target of 50 crores in revenue from the Indian market by 2024.” 

Elista AC range offers three air conditioners, blending modern aesthetics with the latest technology in air conditioning. These ACs are equipped with Inverter Technology, ensuring fast, precise, and energy–efficient cooling, along with stabilizer-free operation, tailor-made for Indian households. An ultra-modern chipset enables these ACs to consume a mere 0.5W in standby mode, striking a balance between maintaining optimal temperature and energy savings. The C-Shaped evaporator and R-32 Refrigerant offer cost-effective and robust cooling, especially during the intense summer heat. 

Durability is a cornerstone of Elista ACs, featuring an anti-rust design and dew prevention, guaranteeing years of reliable service. The EL-SAC18-3INVBP and EL-SAC12-3INVBP Inverter Split ACs come with a 10-year warranty on the compressor, while the EL-SAC18-3FSBP Split AC-Fixed Speed model offers a 5-year compressor warranty. 

Prioritizing wellness and comfort, Elista‘s new AC range features HealthMax technology with a 3-in-1 anti-virus HD filter, ensuring clean and healthy indoor air. The Sleep mode intelligently lowers wind speed and turns off the LED display for undisturbed sleep, while the Auto mode adjusts room temperature for optimal sleeping conditions. 

There are tons of convenience features such as multiple cooling modes, Auto restart, 24-hour timer, Error alarm, Self-diagnosis, and Auto protection, enhancing user experience and operational ease. 

Elista Residential Air Conditioners Prices & Availability 

• The EL-SAC18-3INVBP 1.5 Ton Split AC Inverter Air Conditioner comes 
• The EL-SAC12-3INVBP 1 Ton Split AC Inverter Air Conditioner comes 
• The EL-SAC18-3FSBP 1.5 Ton Split AC-Fixed speed Air Conditioner comes

The new range of Elista convertible Air–Conditioners are available through the company’s extensive network of channel partners.