Archives July 2024

New Delhi, Delhi, India BD (Becton, Dickinson, and Company), a leading global medical technology company, today announced a strategic partnership with Healthians, India’s premier diagnostics service provider, to advance cervical cancer screening by offering an innovative option for women in India to self-collect a sample in the privacy of their own homes.

For women in India, social stigma around getting a pelvic examination, lack of time, embarrassment, fear, and inconvenience are among the key barriers to screening. At-home self-collection can help address the urgent public health challenge of reaching women who do not attend routine cervical cancer screening. The objective of this partnership is to improve the access of cervical cancer screening in India, where less than 2% of women are currently being screened.

Mr. Deepak Sahni, Founder & Chairman, Healthians said, “At Healthians, we envision a world where we’re not just fighting diseases but preventing them. With our HPV self-testing initiative, we’re providing a path to early detection of cervical cancer, levelling the playing field in a battle where time is of essence. With our strong foothold in the market as a Direct-to-Consumer player since our inception in 2014, we believe we are in the best position to bring about substantial awareness on cervical cancer risk screening, offering women a convenient platform to get tested from the privacy of their homes. We stand together in this journey with BD, for a future where the screening of ‘cervical cancer’ becomes a routine affair.”

In 2020, the World Health Organization (WHO) launched its Global Strategy to Accelerate the Elimination of Cervical Cancer, recognizing the potential to virtually eliminate cervical cancer as a public health threat. The strategy established clear targets to achieve by 2030 for HPV vaccination coverage (>90%), screening coverage (>70%) and access to treatment (>90%).

Commenting on the launch, Mr. Atul Grover, Managing Director, BD India/South Asia said, “Cervical cancer ranks as the second most common cancer, however, is one of the most preventable and treatable types of cancer if detected early. The key to prevention and patient safety lies in timely screening. Our at-home self-collection, in partnership with Healthians aims to provide women exactly that – increased access to HPV testing by enabling them to collect a sample in the privacy of their homes. This is aligned with BD’s purpose of advancing the world of health by expanding access to healthcare for superior patient outcomes.”

As per IARC Information Center on HPV and Cancer, current estimates indicate that every year 123907 women are diagnosed with cervical cancer, and 77348 die from the disease. Cervical cancer ranks as the 2nd most frequent cancer among women in India and the 2nd most frequent cancer among women between 15 and 44 years of age. Almost all cervical cancer cases (more than 95%) are caused by persistent genital high-risk human papillomavirus (HPV) infection.

Pune, Maharashtra, India KSB Limited, a pioneer in the manufacturing of critical application pumps for Nuclear power plants, has added a new feather to its cap. The Nuclear Projects Division of KSB Limited (Shirwal Plant) was recently credited with the distinguished ISO 19443:2018 certification.

Responding to this notable achievement, Mr. Nitin Patil, Vice President, Nuclear Business, KSB Limited said, “We are pleased to announce that KSB Limited is the first company in India in the pump industry to be accredited with ISO 19443:2018 certification. As the industry leader, and a trusted partner for nuclear power projects in India, we believe it is our responsibility to take continuous efforts in setting new industry standards. Adoption to new practices like this is a testament to our competence and commitment to excellence.”

Under this certification, KSB would cover the development, production, marketing, and servicing of pumps, auxiliary components, and systems in the nuclear field for products and systems classified as ITNS (Important to Nuclear Safety).

ISO 19443 is an international standard that defines the specific requirements of a quality management system for organizations supplying products and services important to nuclear safety (ITNS). It ensures robust quality management systems and the implementation of rigorous safety protocols.

“This certification is vital as it demonstrates our adherence to the highest standards of safety, reliability, and regulatory compliance, which are paramount in the nuclear power sector. The significance of ISO 19443 lies in its implementation to achieve proper operating conditions, prevent accidents, and mitigate accident consequences, resulting in the protection of workers, the public, and the environment from undue radiation risks, and enhancing the confidence of our clients and stakeholders in our processes and products,” he added.

INDIA, JULY 2, 2024 – As the Asia Pacific region continues to be the growth engine for luxury travel, a new comprehensive report from the Luxury Group by Marriott International has identified new expectations and travel preferences among high-net-worth (HNW) travelers in Asia Pacific. Across the region, 68% are planning to spend more on travel over the next 12 months – 89% among Indians – with 74% planning to travel within Asia Pacific and 88% prioritizing gastronomy as the reason to travel. One in four of all holidays planned (25%) are celebrations. Three distinct new groups of luxury travelers have emerged – the ‘Venture Travelist’ who seeks business opportunities when traveling, ‘Experience Connoisseur’ Millennials who are traveling for enrichment, and ‘Timeless Adventurer’, over 65s who are building their itineraries and exploring places before they become popular.

“Our New Luxe Landscapes Report provides deeper behavioral insights and motivations into elite travelers from Asia and the Pacific,” says Oriol Montal, Managing Director, Luxury, Asia Pacific (excluding China), Marriott International. “Whether it’s discovering new culinary experiences, traveling with their family or friends, or looking to forge connections with the local community, our research has identified new traveler archetypes, and provides Marriott International with new understandings in catering to this discerning traveler segment.”

Deeper Extended Experiences With Their People

The research among HNW travelers in Australia, Singapore, South Korea, Japan, Indonesia, and India reveals they are traveling frequently with longer holidays, especially across the Asia Pacific region. An average of six leisure trips is planned within the next 12 months while 33% of respondents are planning at least seven holidays this year. On average, a short stay comprises three nights while a long stay is two-and-a-half weeks. For many, the kinship and connection within a group enhances the richness of the travel experience, with over 70% choosing to travel with family or friends.

Australia is the destination of choice (46%), above Japan (42%), and Hong Kong, China (27%). 69% of India’s HNW tourists are planning a trip to Australia and it is the top destination of choice for Indonesian, Japanese, and Singaporean travelers.

Increasing Demand in India

In the most active and engaged travel market, 89% of Indian HNWs say they are planning to spend more on travel. Families and friends are touring together to mark key milestones and attend a private function or event, with 38% planning a trip with friends and 33% making theirs a celebratory trip.

A Fascination for Food

88% are picking their holiday destination based on discovering a new food or culinary experience. Acutely aware of dining trends, almost half of the respondents (49%) describe a fine dining experience as an ideal night out. Reinforcing this point, 83% will choose a destination to visit an award-winning restaurant and 35% agreed they would spend more on unique culinary experiences. When choosing a hotel, 81% of HNW travelers make their selection based on fine dining options and 83% choose a destination so they can visit a celebrated restaurant.

New Traveler Personas

With more disposable income for holidays and a growing population of aging travelers, the research has identified three new categories of affluent travelers. These include:

i) The ‘Venture Travelist’

The next-generation Bleisure tourist, the Venture Travelist prioritizes holiday destinations that will generate business opportunities. While they enjoy their vacation with their family and loved ones, they are always on the lookout to secure a deal. Entrepreneurs at heart, explore a location, shopping for local products and antiques, and looking to forge business connections with members of the local community.

ii) The ‘Experience Connoisseur’

Predominantly millennials, Experience Connoisseurs plan their leisure travel as an opportunity for personal enrichment. They travel extensively and see the experience as an investment in their mental and physical well-being. They want to deeply explore a destination, value personalization and actively seek exclusive one-of-a-kind experiences.

iii) The ‘Timeless Adventurer’

Debunking every stereotype of the over-65 ‘silver set travelers’, Timeless Adventurers are keen explorers who want to immerse themselves in a destination. They’re less interested in tourist attractions and more drawn to what gives the destination a sense of place, what makes it unique and memorable.

Kashipur, July 2nd, 2024: The Indian Institute of Management Kashipur, one of the leading B-schools in India, is playing a pivotal role in bringing gender parity in male-dominated classrooms of business education.

In its flagship courses, IIM Kashipur has recorded 42% female representation in the 2024-26 cohort overturning the gender equation of the campus that had admitted around 35% female students last year – a surge of seven percent in one year.

The new cohort of 2024-26, which was inducted last week in a three-day-long inauguration and orientation program, IIM Kashipur has admitted 196 female students out of a total of 471 students enrolled in its flagship course – Master of Business Administration (MBA) and Master of Business Administration – Analytics (MBA – A).

The MBA – Analytics cohort has 75% female students this session surpassing last year’s tally of 69% female candidates.

On the academic diversity front, the new batch comprises 37% of students from engineering backgrounds and 33% from commerce. Over 12 % come from science, 6% from arts and the remaining 11 students are from various backgrounds like medical, communication, and others. While the overall work experience of the batch is 13 months.

Prof. Abhradeep Maiti, Chairperson of Admissions, highlighted that not only is the institute successful in attracting next-generation leaders, but IIM Kashipur has also successfully conducted the 2024 Common Admission Process (CAP 2024).

On bridging the gender diversity gap, he said, “IIM Kashipur has seen exponential growth in female students in the last couple of years. From 11% female students in 2019, the new batch has 42% female students.”

As far as geographical diversity is concerned, the new batch has representation from 28 states, the highest from Maharashtra and Uttar Pradesh which recorded 63 students each.

IIM Kashipur’s director-in-charge, Prof. Somnath Chakraborti said, “Our students are our brand ambassador. The efforts we put in our students are paying off and not just the female representation, the number of applications is growing every academic year. I welcome all the students and thank them for making it to the IIM Kashipur campus.”

He highlighted that the first-generation IIM that took decades to come to this stage, IIM Kashipur has done so in 13 years. “From gender to geographical diversity, ranking to tie-up with foreign colleges and universities, IIM Kashipur is making all efforts to become the top 10 IIMs of the country.”

Apart from MBA and MBA Analytics, 15 candidates were enrolled in the doctoral program out of which four are female.

Welcoming the new students, the Chief Guest Raj Shekhar Joshi, Vice Chairman of SETU Aayog Uttarakhand underscored the importance of leadership, technology, and the evolving role of think tanks and spoke on the challenges of digital transformation.

He said, “Identify the four key elements for successful management: authentic leadership with purpose, Collaborative Leadership, use of technology and energy or attitude.”

SETU Aayog stands for State Institute for Empowering and Transforming Uttarakhand (SETU) established by the Uttarakhand government replacing the Planning Commission of the state and modeled on lines of NITI Aayog.

Emphasizing the role of institutes like IIM Kashipur in contributing to significant and positive changes in India, he spoke on the challenges of the “Amritkal Period,” underlining India’s emergence as a world leader.

He also pointed out the importance of think tanks in policymaking and their roles in bridging connections between cities, states, and rural areas.

The inaugural program of the new batches (AY 2024-26) of MBA, MBA (Analytics), and Doctoral (PhD) programs of IIM Kashipur started with an orientation session conducted by the Institute between 27th to 30th June 2024, to assimilate new entrants with the academic and social life of the Institute.

Mr. Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE.

Housing Sector

1. The interest deduction limit on housing loans under Section 80C of the Income Tax Act (I-T Act) 1961 (under the old regime) is INR 1.5 lakh per annum.

•  With the rising prices of residential units, we recommend increasing this limit of INR 1.5 lakh per annum to at least INR 4 lakh per annum.
• Also, this tax deduction should be entirely moved out of Section 80C, since it gets clubbed with other critical instruments such as life insurance, PPF, etc.

2. The limit of interest deduction under Section 24B of the I-T Act on housing loans stands at INR 2.0 lakh per annum to incentivize homebuyers.

•  As the proportion of the interest payment is higher in the initial years of the loan tenure, we urge the government to raise this limit to at least INR 5 lakh per annum. It should be noted that the exemption limits provided under Sections 80 C and Section 24 B of the I-T Act have remained stagnant for a long time and have not been indexed to inflation.
•  The government can also introduce tax incentives under Section 80C for real estate investment trust (REIT) investors. This would enable REITs to emerge as an attractive tax-saving instrument, further encouraging prospective investors.

3. Under Section 180EEA, first-time homebuyers under the affordable housing category receive an additional I-T deduction of INR 1.5 lakh for interest paid on home loans started in FY19-                 20. This deduction was extended to March 31, 2022. We recommend that this deduction be revived, and its scope expanded to cover at least the mid-end segment.

4.  Long-term capital gains from the sale of house property are presently taxed at 20% through a special provision similar to Section 112 for equity shares. In addition, the period of holding a house property is currently 24 months to qualify as a Long-term Capital Asset (Section 54 of the I-T Act 1961). The new property must be purchased either one year before the sale or two years after the sale, or the new residential property must be constructed within three years of the sale of the property. If one sells a house within 24 months, they must pay an STCG tax on the gains as per the applicable income-tax slab.

• The recommendation is that the tax rate be reduced from 20% and the holding period for a property be reduced from 24 months to 12 months so that there is no capital gains tax liability for the same.
• The cap of INR 2 crore on capital gains for reinvesting in two properties should also be removed.
• In addition, the time duration for under-construction properties can be extended by at least a year (currently, it is three years) to provide some cushioning against any disruption in labor or material availability.

5. There are three different holding periods applicable for the calculation of capital gains i.e., 12 months, 24 months, and 36 months for different categories of assets, and tax rates vary from 10 to 20%, depending on various factors such as with/without indexation, listed/unlisted, resident/non-resident, etc. We recommend that the government simplify the tax regime by reducing the current three categories of holding periods to two.

6. In Budget 2023, the government set a ceiling of INR 10 crore for the long-term capital gain tax deduction for reinvestment in residential properties under Sections 54 and 54F of the Income Tax Act. The same limit has been set for the Capital Gains Account Scheme. Earlier, there was no maximum limit set on the account. The new limit will be applicable from April 1, 2024, and will apply about the assessment year 2024-25 and subsequent assessment years. We recommend that this limit be removed as it can be a big deterrent for HNIs/big-ticket residents. reinvestments.

7. Further, capital gains on listed shares are considered long-term if the holding period is 12 months. For REITs and InvITs (infrastructure investment trusts), it is 36 months. We recommend that the latter two instruments be standardized to 12 months.

Affordable housing

1.  Currently, the criteria for affordable housing are based on the cost of the property (INR 45 lakh), carpet area (60 sq. m to 90 sq. m), and income of the homebuyer (EWS / LIG).

• We recommend expanding the cost, size, and income criteria to make the scheme more inclusive.
• The government should consider increasing the size criteria for metro cities to 90 sq.m. and establishing three to four brackets of unit sizes and prices to define the eligibility criteria depending on city/state dynamics, as capital values in larger metro cities (Mumbai, Delhi-NCR) can be significantly higher vis a vis other cities.

2. Increased budgetary allocation towards the Pradhan Mantri Awas Yojana (PMAY) over the previous year, coupled with the recent Cabinet announcement to provide financial assistance to construct an additional three crore rural and urban houses under the scheme, underscores the government’s ongoing commitment to bolster the affordable housing sector. The scheme’s timely implementation holds significant potential to invigorate the sector further. We also eagerly await further details concerning the PMAY-Urban scheme, in light of the Interim Budget 2024-25 announcement about the government’s plan to launch a scheme to help deserving sections of the middle class living in rented accommodations, slums, chawls, and unauthorized colonies to buy or build their own houses.

3. Under Section 80IBA, the government provided a 100% tax deduction of the profits and gains derived from the business of developing and building affordable housing projects. However, the tax holiday expired in 2022. A revival of the scheme would benefit developers of affordable housing projects, as such projects typically operate on thin margins.

GST rationalization, adjustments, and further amendments

1.  The construction industry, experiencing rising construction costs over the last few years, saw some respite in 2023, with prices cooling off. In 2023, a gradual decline in material prices led to a tapering of the CBRE input material cost index. As steel and cement are two high-impact components of the construction process, we request the government to lower the GST on both. While cement can be included in the 18% slab (28% currently), steel can be included in the 12% slab (18% currently).
2.  For housing projects, barring the affordable housing segment, GST is applicable at the rate of 5% without the input tax credit (ITC). The GST for affordable housing stands at 1% without the ITC. The GST on key construction materials, such as marble, tiles, glass, and prefabricated structural components, etc., varies between 12-28%. Due to its cascading effects, it is requested that the GST Council reinstate ITC.
3.  Transfer of development rights (TDR), Deed of Assignment, and allotment of land on long-term lease against a one-time premium should be outside the ambit of the GST.
4.  The developers, who construct buildings for leasing out the same are struggling with the enormous financial implications of increasing construction costs. Construction cost typically ranges from 32% to 38% of total project cost, and given GST is applicable at the rate of 18% on such services (which becomes the cost for the company), there is a considerable cost that is borne by the industry due to the specific restriction in availing ITC. Thus, we propose that the government grant ITC to these firms.
5.  There is a demand to reduce the TDS rates on coworking spaces as most of the receivables from the client are towards services. The expectation is to bring coworking spaces into the 2% TDS slab, as in the case of services, from the present 10%. This will immensely help the coworking spaces segment in the management of their cashflows.

Land

1.  The Government has several unused or sub-optimally used land parcels available to itself or public sector enterprises. These could include Port Trust land, railways, defense unused land parcels, etc. We recommend unlocking these land parcels and partnering with credible private developers to develop affordable housing once the land and approvals are in place. These land parcels could also be leveraged for the development of industrial parks and related infrastructure. This will not only reduce development risk but will also help the government leverage the private sector’s operational efficiencies.
2.  We also urge the government to provide a comprehensive framework regarding changes in land usage to fast-track development and make land acquisition smoother.

Rental housing

1.  While the passage of the Model Tenancy Act (MTA) is a positive move for the rental housing segment, India continues to be at the lower spectrum of gross rental yields, with most investors historically relying on property price escalation for financial returns. The government can consider providing certain exemptions to this segment through a 5-year property tax holiday, facilitating ease of capital for build-to-lease and rent-to-own residential projects by instituting a special fund for such developers, etc.
2. Further, the pace of adoption of the act remains slow among the states. So far, only a few states such as Andhra Pradesh, TN, UP, and Assam have revised their tenancy acts on the lines of MTA. The government should encourage states for a faster adoption of the MTA to streamline this sector.
3. The HRA exemption has not kept pace with rising rentals across cities. The government can thus consider increasing the HRA exemption by 15-20% in employees’ salaries to give a boost to rental housing.
4. For landlords of residential units, a standard deduction of 30% of the Net Annual Value (NAV) is allowed to every taxpayer. This 30% deduction is allowed even when your actual expenditure on the property is higher or lower. Given the rising inflation and to improve the effective returns from rental housing, the NAV standard deduction from rental income under Section 24 (a) of the Income Tax Act should be increased to 50% from 30%.

ECB for construction finance

1. The External Commercial Borrowing (ECB) framework, issued by the RBI under FED Master Direction No.5/2018-19, prohibits companies availing ECB from using the proceeds for the construction or development of regular housing projects and there is ambiguity regarding their usage for the acquisition of land for affordable housing projects. To enable growth in the real estate sector, it is requested that these relaxations be provided under the ECB framework.

Green goals

1. India is aiming for a massive 500 GW of renewable energy capacity by 2030 as per its COP26 commitment. Despite the challenges, India has made impressive strides and is poised to increase its renewable energy capacity from 132 GW in October 2023 to 170 GW by March 2025.

The government, through its Budget announcements, can increase its support for renewable energy adoption through initiatives such as low-cost financing, and tax breaks for developers and consumers. Additionally, upgrading the transmission infrastructure for smart grids is crucial to managing the intermittent nature of renewable energy sources.

2. The government should set up a ‘carbon market stabilization fund’ to encourage industries to take up investments towards low emission technologies and processes.

3. The budget should create a roadmap for sustainable growth in the logistics sector and incentivize logistics players to adopt sustainable practices such as allocating incentives for LEED-certified warehouses and reducing tax for green fleets in the supply chain.

I&L

1. 1. While the government has exempted the integrated GST of 5% on ocean freight imports effective from October 1, 2023, the integrated GST of 5% applicable on international outbound ocean freight and 18% on outbound air freight persists, following the government’s withdrawal of the exemption on the same in 2022. The government should consider implementing zero-rating of GST for all international transportation services to facilitate trade align India with international tax practices and reduce logistics costs.

Bengaluru, July 2, 2024 – Posspole Private Limited, renowned for its dynamic ecosystem focused on tackling sector-specific challenges through advanced technology, proudly announces a strategic partnership with Midas School of Entrepreneurship to launch a transformative year-long entrepreneurship course in Pune and Bengaluru. This collaboration marks a significant step towards nurturing aspiring entrepreneurs and empowering them to convert visionary ideas into impactful businesses.

At the heart of Posspole’s mission is its commitment to leveraging cutting-edge technology to address pressing industry needs and improve lives globally by developing products / solutions, driving costs down, and growing market access. Through this partnership with Midas School of Entrepreneurship, Posspole aims to provide a robust platform where entrepreneurial spirit meets practical, hands-on experience in prototype development, market and product fitment, business model development, costing and pricing, customer awareness, sales, and growth. The program will not only impart essential entrepreneurial skills but also offer invaluable insights into product development, market entry strategies, and scaling operations effectively.

Through this initiative, Posspole and Midas School of Entrepreneurship aim to foster a new generation of business leaders who are not only capable of identifying opportunities but also navigating the complexities of modern business growth challenges. The program’s holistic approach, enriched by Posspole’s industry experience and Midas’s experiential learning framework, promises to be a transformative experience for participants, paving the way for innovative solutions that make a lasting impact.

Kiran Rudrappa, CEO and Co-founder of Posspole expressed his enthusiasm about the partnership, highlighting its potential to catalyze innovation and address sector-specific challenges effectively. “Posspole is dedicated to harnessing technology to solve real-world problems and drive meaningful change. We are happy to collaborate with Midas School of Entrepreneurship, combining our product development, cost-down drives, and market growth strengths to make aspiring entrepreneurs successful in the market at a faster pace in today’s competitive landscape.”

Madan Kumar MA, CEO of Midas School of Entrepreneurship, Bengaluru, stated “We are excited about this MoU with Posspole. This partnership will provide our students with access to Posspole’s dynamic ecosystem, which includes a state-of-the-art facility in Bangalore, experienced mentors, accelerated product development, and global market reach, giving 360-degree support in empowering India’s next generation of entrepreneurs. This MoU is another significant step towards achieving Midas’ vision of enabling 10,000 entrepreneurs, creating 1 million jobs, and contributing 1% to the nation’s GDP”

New Delhi, July 2, 2024 – Vedanta Aluminium, India’s largest producer of aluminium, has won the prestigious Kalinga Energy Excellence Award and Kalinga Environment Excellence Award for its alumina refinery unit at Lanjigarh, Kalahandi district. These awards were presented by the Institute of Quality and Environment Management (IQEMS) in association with the Odisha State Pollution Control Board and the Institute of Public Enterprise, Hyderabad.

Vedanta’s Lanjigarh unit, India’s premier producer of smelter-grade alumina, has undertaken multiple initiatives as part of Vedanta Aluminium’s sustainability goals such as Net Zero Carbon by 2050, Net Water Positivity by 2030, effective waste management, biodiversity restoration and adoption of energy-efficient technologies across operations. The company’s sustainability initiatives have been acknowledged at the highest forums with Vedanta Aluminium scoring top at the S&P Corporate Sustainability Assessment (CSA) rankings for the assessment period 2023.

Commenting on the achievement, John Slaven, CEO, of Vedanta Aluminium, said, “Our success in energy efficiency and environmental conservation, driven by our commitment to sustainable operations, is reflected in our numerous accolades. Balancing increased operational efficiency with a sustainable value chain is a top priority in our decision-making process. These achievements underscore our relentless pursuit of excellence through a sustainable business model, bolstering the transformational journey of Vedanta Aluminium.”

Vedanta’s focus on meeting the growing needs of the nation is also closely aligned with the needs of the planet. The company is contributing to the sustainable transformation of the industry through initiatives such as increasing the usage of renewable sources of energy such as the use of biomass in boiler cofiring, deploying lithium-ion electric forklifts and incentivizing employees to use electric vehicles. These efforts have resulted in a significant reduction in overall greenhouse gas (GHG) emissions intensity by ~9.3% in FY24 compared to the FY21 baseline while increasing production by ~20%.

By leveraging water reutilization and fostering a water-positive footprint through collaborative efforts with local communities and constant water-level monitoring, Vedanta Aluminium has recycled over 15 billion litres of water across operations during FY24. Also, the company has conducted systematic assessments and identified sensitive habitats and biodiversity hotspots near its plants. Recently, the company signed an MoU for the implementation of nature-based solutions for biodiversity conservation and climate resilience around its operations.

Vedanta Aluminium also ensures gainful utilization of bauxite residue (a by-product of the alumina refining process) as well as fly ash (a by-product of the power generation process). Bauxite residue is used for activities such as road construction around operational areas, and soil consolidation in wick drain development by combining it with fly ash and supplying it as raw material to the cement industry, resulting in the utilization of more than 1,00,000 metric tonnes of red mud so far. Gainful utilization of fly ash is ensured through its supply to the National Highway Authority of India for the construction of roadways and brick manufacturing units run by local communities, thereby supplementing the income of the villagers. These initiatives have resulted in more than 200% utilization of waste in FY23.

Mumbai, July 2nd, 2024: Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India, announced its exciting “Honda Magical Monsoon” promotional campaign offering attractive benefits and assured gifts on the purchase of its premium range of Honda cars valid from July 1 to July 31, 2024, at all dealerships nationwide*. These limited-time offers are designed to provide exceptional value making this season even more delightful.

Customers who take delivery of their cars in July 2024 stand a chance to win an exclusive couple’s trip to Switzerland or assured prizes worth up to Rs 75,000 as part of this campaign. Additionally, there are Surprise gifts on all test drives during this period. All these offers will run in addition to the model-wise monthly offer available on the product range.

Commenting on the promotion campaign, Mr. Kunal Behl, Vice President, Marketing & Sales, at Honda Cars India Ltd. said, “The monsoon season brings a sense of freshness and Honda’s special offers aim to amplify this experience for our customers. Whether you are upgrading your drive or buying your first car, a Honda is waiting for you with unbeatable value and now is the perfect time to make that decision. This limited-time offer is available at all authorized Honda dealerships across the country.”

The promotional scheme covers the entire premium range of Honda Cars India including Honda Amaze, Honda City, Honda Elevate, and Honda City e: HEV, ensuring customers nationwide can avail of these offers, alongside ongoing monthly offers on the respective models.

Chennai, 02 July 2024: Informa Markets in India, India’s leading B2B exhibitions organizer is proud to announce the 8th edition of SAFE South India, reputed as the southern region’s largest and most influential commercial security, and fire expo, scheduled to take place from July 5th to 6th 2024, at Chennai Trade Centre, Chennai. The expo is strategically located in a region known for its burgeoning smart cities and significant security challenges. SAFE South India serves as a vital platform for showcasing the seamless integration of safe, smart, energy-efficient, and technologically advanced urban environments. It will bring together industry leaders, government officials, and technology experts to exchange insights and explore cutting-edge innovations in the security sector.

The exhibition will feature over 100 leading brands unveiling their latest launches across a spectrum of security solutions, including UAVs, drones, access control systems, security gates, digital video recorders, electronic locks, IoT devices, and more. Notable participants include industry leaders such as Premier Plus partners – Hikvision, Prama, and ZKTeco, and Premier partners – eSSL, Formigo, Realtime, Trassir, and TVT, demonstrating their commitment to advancing security technologies.

Highlighting the importance of SAFE South India, Mr. Yogesh Mudras, Managing Director, Informa Markets in India, remarked, “As we enter 2024, the convergence of physical security and IT is increasingly prominent. AI is revolutionizing the security industry by enhancing perceptual capabilities and improving digital identity authentication, and access control measures. With the Indian access control market expected to grow from INR 72.5 billion in 2023 to INR 222.8 billion by 2032, exhibiting a CAGR of 12.9% from 2024 to 2032this expo is crucial for showcasing the sector’s advancements and opportunities. In urban areas projected to accommodate over 6 billion people by 2050, ensuring round-the-clock safety, convenience, and energy efficiency is paramount. SAFE South India is an essential platform for driving the future of security, ensuring our cities remain safe, efficient, and resilient.”

A two-day conference themed ‘The Changing Paradigm in Security Technologies’ will take place on the sidelines of the show floor, bringing together key stakeholders from the security domain to address modern challenges facing cities and organizations. Key speakers scheduled to attend the event include Mr. Vaidyanathan Chandramouli , Partner – Risk & Compliance, Stratinfinity Inc; Mr. Sunil David , Ex-Regional Director(IOT)- AT&T, Chair of Intelligent Comm. Group of IET Future Tech Panel, Mr. Dinesh Elangovan , Criminologist & Vice Co-Chairperson at OSAC Chennai chapter, Mr. Padmavati Uttarwar , Brand Ambassador – Business Continuity Management Program; Col. Sushil Pradhan , ED and COO, MitKat Advisory; Col Srinivas Balusu , SM, Global Head – Physical Security, Infosys; Mr. Nand Kishore Bhatt , CSO, Sesa Goa, Vedanta Ltd; Mr. John Paul Manickam , Chair, OSAC Chennai Chapter& Associate Director& Head-Joint Security Intelligence Centre, Cognizant; Mr. Amit Jain , Managing Director, TechnoPurple; Ms. Kavitha Srinivasulu , Global Head – Cyber Risk & Data Privacy: BFSI R&C – TCS; Col. Manoj Singh , Cyber Security Expert; Mr. Ashok Subramaniam , Regional Head Security, Infosys; Mr. Thamodharan S , Regional Security Manager, India and Asia, Colt Technology Services; Mr. Krish V. , Chief Executive & Co-Founder, Zaxis Aggregators; and Mr. E. Parthasarathy , GM-Security, Express Avenue &Founder – Raksha Trust.

Featuring power-packed knowledge sessions and panel discussions, the event will delve into topics such as “Integrated Technologies for Safe Cities in the New Normal”, “Empowering India with Indigenous Manufacturing Roadmap and Smart Security Technologies and Solutions”, “Emerging Paradigms in Security Architecture”, “Crime Prevention through Environmental Design”, “Safety, Security and Duty of Care beyond the perimeter”, “Managing Security Across Locations Globally – Risks & Challenges”, “Technologies in Guard Patrol Management”, “How Smarter, Intelligent and Self-Learning Security Systems Make Life Easier for a CSO”, “The Future of Security: Disruptive Technologies in Enterprise Security Management”. Experts will discuss the evolution of commercial security and surveillance, highlighting the crucial role played by next-generation technology in securing both physical and virtual environments.

SAFE South India has garnered substantial support from esteemed associations including ASIS (American Society for Industrial Security) Ahmedabad, New Delhi, and Mumbai Chapters, ESAI (Electronic Security Association of India) and OSAC (Overseas Security Advisory Council) Chennai Chapter, GACS (Global Association for Corporate Services) and Knowledge partner, Mitkat Advisory.

SAFE South India is a pivotal platform showcasing the latest advancements in commercial security and fire protection. Chennai, with its robust infrastructure boasting over 90,000 CCTV cameras spread across 459 square miles—the second-highest concentration in India— is an apt venue for its strategic location and commitment to smart city initiatives. This expo aligns perfectly with Chennai’s aspiration to foster a collaborative environment for industry leaders to address contemporary security challenges and propel urban safety and technological integration forward.

Bengaluru, July 02, 2024 – Lenovo, the global technology powerhouse, today announced the elevation of Rohit Midha as the Executive Director of its Enterprise Business in India. Based in Mumbai, Rohit will be responsible for driving end-to-end growth, and innovation for Lenovo India’s enterprise business. He will work closely with Solutions & Services Group and Infrastructure Solutions Group to capitalize on the next wave of growth opportunities driven by AI.

Commenting on Rohit’s elevation, Shailendra Katyal, Managing Director, Lenovo India, said, “Rohit is not new to Lenovo. He brings a strong track record of success, extensive experience, and deep industry insight to our enterprise business in India. With Lenovo’s focus on AI-driven transformation, Rohit’s return to the India Enterprise business will be instrumental in advancing the company’s progress and enhancing our ability to deliver exceptional value to our customers.”

Rohit Midha assumes his new position following his tenure as Director of Solutions and Services Group where he spearheaded Lenovo’s worldwide strategy to establish itself as an integrated solutions provider for customers and businesses alike. During his 10+ years at the company, Rohit has managed cross-functional teams, pioneered new business initiatives, and deployed innovative strategies to enable revenue generation and profit management. With a career spanning more than 26 years, Rohit demonstrates a visionary leadership style coupled with strategic acumen and strong execution.