Archives November 2024

GIFT City, Gandhinagar, 19^th November 2024 — Eton Solutions, a leader in comprehensive wealth management ERP systems, today announced the launch of a specialized Fund Accounting Platform and Services suite tailored for Private Equity (PE), Real Estate (RE) and Fund of Funds (FOF) firms, aiming to meet the demands of General Partners looking to enhance transparency and timely reporting to their end investors. This new offering, launched today in GIFT City, has been rolled out globally.

Built on the AtlasFive® platform, a cloud-native, AI-enhanced ERP solution, this expansion underscores Eton Solutions’ commitment to transforming fund accounting. By integrating leading-edge AI technology with EtonGPT™, Eton enhances compliance, portfolio management, and operational efficiency for PE firms operating in GIFT City.

Eton Solutions has solidified its position as an industry leader, supporting over 1,918 funds and supporting the management of $936 billion in Assets Under Management (AUM) on its AtlasFive® platform. With Fund Administration services currently offered to 550 of its clients’ funds, totaling $27 billion in AUM, Eton Solutions has already demonstrated the strength and scalability of its solutions.

AtlasFive® offers an extensive suite of integrated functionalities tailored to the complexities of Private Equity operations, covering portfolio management, GL accounting, fund accounting, tax ledger, and risk management, all driven by automation. Enhanced features include real-time client reporting, AI-enabled cash and treasury management through EtonGPT™, and comprehensive compliance and security controls aligned with regulatory standards.

Purpose-built for General Partners and family offices, AtlasFive® combines AI-driven, real-time features to minimize manual work, accelerate decision-making, and establish a resilient digital infrastructure in GIFT City. With EtonGPT™, AtlasFive® automates the processing of over 250 document types, including capital calls, distribution notices and manager statements — empowering fund administrators to achieve a 2X to 4X boost in operational efficiency.

Satyen Patel, Eton Solutions’ Executive Chairman commented, “Our launch today advances our mission to deliver cutting-edge, AI-powered fund accounting solutions to the private equity, real estate, and fund of funds sectors in fast-growing markets like India. AtlasFive® empowers firms to handle complex fund accounting with speed and precision, automating routine tasks to minimize errors. This digital transformation is critical in high-growth hubs like GIFT City, where firms can scale seamlessly while adhering to stringent compliance and security standards.”

While Eton Solutions serves clients worldwide, India is a strategic focus for its funds platform. As highlighted in a recent Jefferies report, the country is poised as a key market for private equity listings with a strong investment pipeline. Eton Solutions has solidified its reputation as a leader in cloud-native ERP platforms for wealth management and fund accounting, delivering advanced, AI-powered tools that streamline operations and enhance decision-making for asset managers, family offices, and private equity firms.

Bryan Henning, SVP and Head of International said, “Family Offices globally have been evolving how they manage investments often times becoming General Partners for fund vehicles which support co-investment either within their family or with external partners.  AtlasFive® has been successfully supporting these families over the years through fund management functionality in-built within AtlasFive®. This functionality has now been further developed to encompass all elements of managing the fund life cycle for GPs of Private Equity and Real Estate funds helping PE firms bring much needed operational efficiencies and enhanced end client reporting to their organisations.”

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Chennai, November 19, 2024 – Orion Innovation (“Orion”), a leading digital transformation and product development services firm, has appointed Garima Singh as its Chief People Officer (CPO). Singh will lead Orion’s global HR strategy, people engagement, talent acquisition, and employee development initiatives, playing a crucial role in fostering a culture of growth and innovation across the organization.

Singh brings more than 20 years of experience in human resources and business operations to Orion. Most recently, she spent 15 years at Persistent Systems, a multinational IT services company, holding several critical leadership positions. In her latest role as Persistent’s North America HR Head and Global Sales HR Leader, Singh was instrumental in driving the company’s exponential growth through strategic talent initiatives. She was also responsible for building and leading the global compensation and benefits team and spearheading sales and leadership hiring programs that supported the organization’s expansion.

“Garima brings exceptional leadership skills and deep expertise in scaling global technology organizations,” said Brian Bronson, CEO of Orion. “She also has a proven track record of designing and implementing organizational compensation plans and tools that help enable accelerating profitable growth, and her addition to our team marks the first step in my strategic plan to strengthen our leadership and expand our capabilities.”

Before her corporate career, Singh served as an officer in the Indian Armed Forces, developing strong leadership skills and an unwavering commitment to integrity and teamwork. This military experience has shaped her approach to organizational leadership and team development.

“What drew me to Orion was its commitment to fostering technological and human capital excellence,” said Singh. “I look forward to working with Brian and the team to implement innovative people strategies to enhance our collaborative culture while supporting Orion’s continued global expansion and market leadership.”

Singh holds a bachelor’s degree in computer science engineering and a post-graduate diploma in business management specializing in Human Resources. She earned a PG certification in Human Resources from XLRI School of Management in India.

India – November 19, 2024 – The Hospitality Sales & Marketing Association International (HSMAI) Middle East & Africa (MEA) and Sommet Education, representing prestigious institutions specialized in Hospitality Management such as Les Roches and Glion Institute of Higher Education, have signed a Memorandum of Understanding (MoU) to launch a collaborative venture aimed at advancing professional development, thought leadership, and educational excellence within the hospitality sector. The partnership sets a framework for mutual engagement in projects and activities that will enhance educational and professional growth opportunities within the Hospitality industry.

The partnership’s key objective is to leverage the collective strengths of both HSMAI MEA and Sommet Education to provide value to hospitality professionals and students through a range of initiatives. Both parties envision the collaboration to drive industry standards in education, research, and experiential learning for future leaders of the hospitality industry. By connecting HSMAI MEA’s expansive professional network across the Middle East and Africa with Sommet Education’s renowned institutions, Les Roches and Glion, this partnership promises significant contributions to the sector.

A cornerstone of the collaboration includes thought leadership activities, with Les Roches and Glion Institute of Higher Education faculty set to participate in several Executive Roundtables hosted by HSMAI MEA. These roundtables offer a platform for sharing insights on hospitality trends, innovation, and strategic marketing. Further, this collaboration will allow both organizations to co-create impactful content through webinars, workshops, and seminars, providing valuable resources to HSMAI MEA’s network and promoting best practices across the industry.

Moreover, the partnership will feature contributions from Les Roches and Glion’s academic experts, who will produce research articles and whitepapers for publication on the HSMAI MEA website, reaching a broad professional audience and encouraging dialogue on current industry challenges and innovations.

In addition, Sommet Education will become an Educational Partner at the much-anticipated 7th Annual Commercial Strategy Conference (CSC) taking place on 26-27 November 2024 at Conrad Dubai. Les Roches and Glion will play a key role in this year’s ROCKSTAR Awards by presenting the awards and engaging with attendees. This visibility will allow Les Roches and Glion to showcase their contributions to hospitality education while providing a platform for networking and recruitment within the industry.

Through the partnership, HSMAI MEA will gain access to Sommet Education’s expertise and resources to enhance its own bespoke educational programs. Additionally, this partnership will offer HSMAI MEA members unique opportunities to engage with students from Les Roches and Glion for internships, research projects, and collaborative learning activities, fostering practical experience and professional growth for students and emerging industry professionals alike.

“At HSMAI MEA, we’re committed to empowering our regional community and continually bringing fresh innovation to our thought leadership and events, keeping our members at the forefront of industry change. This collaboration with Sommet Education connects our community with academic excellence, providing the insights, tools, and networks needed to thrive in a dynamic industry,” said Mona Faraj, President of HSMAI MEA.

Adrian Artimov, VP of Enrolment at Sommet Education, added, “Our partnership with HSMAI MEA aligns perfectly with our mission to foster excellence in hospitality through education. By connecting our students with such a vast professional network, we aim to bridge the gap between academia and the industry, empowering the next generation of hospitality leaders with real-world insights and opportunities.”

Berluti recently hosted an exclusive event at DLF Emporio, New Delhi, spotlighting the unique art of leather tattooing. The event celebrated the Maison’s blend of traditional craftsmanship and contemporary artistry, offering attendees an insider’s view of this intricate process.

Special guest Ms. Mandy Marie, a Master colorist and tattoo artist from Berluti, Paris, demonstrated the precision of tattooing the Maison’s signature Venezia leather. Guests, including prominent media and influencers, witnessed firsthand how bespoke designs are etched into Berluti’s iconic leather goods.

Berluti’s commitment to innovation and craftsmanship was evident throughout the evening. Leather tattooing, pioneered by Olga Berluti, enables clients to personalize their shoes and accessories with unique, permanent designs.

Guests were invited to explore Berluti’s bespoke tattoo service, personalizing items with their initials, and placing special orders from a variety of designs created exclusively by Brooklyn-based tattoo artist Scott Campbell for the brand since 2016. This service highlights Berluti’s dedication to individuality and artistic expression in luxury.

The event reinforced Berluti’s legacy of pushing boundaries in style and craftsmanship, showcasing how its heritage continues to evolve with modern creativity.

Mumbai, 19th November 2024: India’s fast-evolving appetite for convenience is about to get even more satisfying, as Zepto, the brand that pioneered 10-minute delivery in India, is gearing up to deliver food and beverages in 10 minutes by rolling out Zepto Café nationwide. With strong customer love and growing demand, Zepto Café has quickly become a game-changer, blending traditional flavours with modern technology to bring a café experience straight to people’s doorsteps. Now serving through 120+ Cafés at stores across Mumbai, Delhi, Bengaluru, and soon Hyderabad, Chennai, and Pune, Zepto Café is setting a new standard for quick-access, high-quality snacks, coffee, and chai.

Aadit Palicha, CEO of Zepto, believes Zepto Café will usher in a new phase in Indian Quick Commerce. “We have cracked 10-minute delivery with high quality food preparation processes, which is why we are seeing strong customer love. Over the past year, our team has meticulously researched and sourced state-of-the-art equipment for our Cafés, including coffee machines that employ handcrafted brewing techniques. This ensures every cup of coffee and every dish meets the highest standards of quality and consistency—on par with the finest offline café chains in India.”

“With Zepto Café, we’ve combined India’s favourite snacks and beverages with our 10-minute delivery model to create a service that resonates deeply with our customers. The response has been phenomenal, with Zepto Café now achieving an Annual Run Rate (ARR) GMV of ₹160 crore with just 15% of our expanding dark store network with proven unit economics. As we expand into new cities and launch 100+ new cafés every month, we are on track to achieve ARR of ₹1,000 crore by the next fiscal year,” he added.

Zepto Café offers a wide menu of over 148 items, ranging from freshly brewed chai and coffee to all-day breakfast options, pastries, and savoury snacks, catering to diverse tastes and preferences. Building on Zepto’s success with its 10-minute delivery promise, the online café concept reimagines the experience of “grabbing a quick bite” for today’s fast-paced urban lifestyle.

Consumption Trends Across Cities:

• Bangalore: Renowned for its thriving coffee culture, Bangalore is surprising us with its preference for Adrak Chai, which outsells traditional Filter Coffee by 3X.
• Mumbai: Even in a city famous for its love of Vada Pav, Zepto Cafe has found its place. On our platform, Samosa and Garlic Bread with Cheese Dip have become top favorites, showing how timeless classics can coexist with evolving food choices in Mumbai’s dynamic culinary scene.
• Chennai: It’s fascinating to see how a city known for its love of Medu Vada Sambar Dip is also embracing items like Mini Butter Croissants, which we sell 4X more compared to the traditional snack.
• Hyderabad: Pairing nostalgic comfort foods like Bun Maska with new-age options like Vietnamese Cold Coffee seems to be the dominant trend in Hyderabad so far.

Busy professionals can order coffee to fuel their workday without leaving their desk, college students can rely on late-night caffeine fixes for study sessions, and families can enjoy chai and snacks for spontaneous gatherings—all delivered in minutes. By addressing these everyday needs, Zepto Café has carved a niche as a trusted companion in urban living.

The rapid expansion of Zepto Café reflects a broader trend of online cafés catering to India’s evolving tastes. Its model is tailored to high-density urban environments, where demand for quick, high-quality food options aligns seamlessly with Zepto’s efficient delivery system.

Amsterdam/ New Delhi, Nov 19, 2024: The World Agriculture Forum (WAF) announced the appointment of two distinguished leaders, namely, Dr. Ameenah Gurib-Fakim, former President of Mauritius and globally recognized scientist, and Mr. Carlos Magariños, an esteemed diplomat and economic strategist from Argentina, to its Board of Directors. Their visionary leadership and expertise will be instrumental in advancing WAF’s mission to drive sustainable agricultural development through innovations, policy agenda advocacy, and global development partnerships.

Dr. Gurib-Fakim brings a wealth of experience as a scientist, biodiversity advocate, and the first female President of Mauritius. She has earned global acclaim, including the L’Oreal-UNESCO Prize for Women in Science and recognition as one of Forbes‘ 100 Most Powerful Women. Reflecting on her new role, Dr. Gurib-Fakim said, “Agriculture faces unprecedented challenges that demand innovative, science-driven solutions. I am eager to contribute to WAF’s vision for a resilient and food-secure world.” She added that the challenge of climate change requires global collaborations to work with a sense of urgency to ensure global food security and to save the future generations.

Mr. Carlos Magariños, known for his transformative leadership, became the youngest Director-General of UNIDO at just 35 and has authored 10 influential books on economic innovation. His career spans pivotal roles, including Argentina’s Secretary for Industry and Ambassador to Brazil. “WAF is a vital platform for addressing disparities in agriculture,” said Mr. Magariños, “I look forward to leveraging my experience of diplomacy and development, industry and international cooperation to promote sustainable food systems and empowering farmers worldwide.”

Dr. Jaqueline Hughes, Secretary General of WAF, welcomed the appointments, saying, “Dr. Gurib-Fakim and Mr. Magariños embody innovative spirit and commitment to global progress that define WAF. Their contributions will enhance our ability to address global food security issues, promote biodiversity, and foster economic prosperity through sustainable agriculture. ”

With these appointments, WAF reinforces its commitment to bridging gaps in agricultural systems by uniting governments, businesses, and communities, and promoting South-South Triangular Cooperation. The Forum is poised to accelerate global efforts to create a resilient and sustainable food system through policy, trade facilitation, and cutting-edge technologies.

Kanpur, November 19, 2024: IIT Kanpur Research and Technology Park Foundation (brand name, Technopark@IITK) has entered into agreements with two Special Purpose Vehicles (SPVs) – UAS Testing Foundation and Communication (Defence) Testing Foundation – to establish state-of-the-art Defence Testing Infrastructure at Technopark@IITK. These facilities will focus on two critical domains of Defence: Unmanned Aerial Systems (UAS) and Communication Systems.

The UAS Testing Foundation is a consortium comprising HAL, BEL, BEML, Yantra India Limited (YIL), Gliders India Limited (GIL), and EndureAir Systems, while the Communication (Defence) Testing Foundation includes HAL, BEL, Advanced Weapons and Equipment India Limited (AWEIL), and BEML. UPEIDA and Technopark@IITK are integral members of both consortiums.

The testing infrastructure is being established under the Defence Testing Infrastructure Scheme (DTIS), an initiative of the Department of Defence Production (DDP) under the Ministry of Defence (MoD). This scheme aims to provide accessible and high-quality testing facilities to address the needs of the domestic defence industry.

Prof. Manindra Agrawal, Director of IIT Kanpur, said, “The establishment of advanced UAS and Communication Testing Facilities at Technopark@IITK is a significant step in strengthening India’s defence testing infrastructure. This collaboration with key industry players under the Defence Testing Infrastructure Scheme reflects IIT Kanpur’s role in enabling high-quality, accessible testing facilities that support both academic research and the growth of the defence industry. I am confident that this initiative will play a pivotal role in driving technological advancements, and contributing to the vision of Atmanirbhar Bharat by advancing self-reliance in defence innovation.”

Prof. Amarendra Singh, Professor-in-Charge, Technopark@IITK, said, “It is a momentous occasion for IIT Kanpur and DTIS to collaborate. Of the three defence verticals allocated to the UP Defence Industrial Corridor by the Ministry of Defence, two are being established at IIT Kanpur. This facility represents a win-win for both industry and academia. On one hand, the state-of-the-art machines and high-end equipment will be accessible to our faculty and students for research. On the other hand, MSMEs utilizing this facility will have the opportunity to leverage IITK’s technical expertise to address their R&D challenges.”

In February 2018, the Honourable Prime Minister announced the establishment of two defence corridors in India: the Tamil Nadu Defence Industrial Corridor (TNDIC) and the Uttar Pradesh Defence Industrial Corridor (UPDIC). As part of the ongoing efforts to strengthen the indigenous defence ecosystem, the Ministry of Defence (MoD) subsequently launched the Defence Testing Infrastructure Scheme (DTIS) to set up Central Defence Testing Facilities.

Col. Sanjay Singh, Chief General Manager, UPDIC, said, “R&D and testing are among the most resource-intensive activities in the defence industry. To address these needs, the MoD approved the establishment of advanced testing facilities, two of which will be located in the Kanpur defence node. These testing centres are also envisioned to evolve into certification centres in the future, a role currently exclusive to defence agencies.”

Technopark@IITK signed agreements with representatives from HAL and BEL, the leading partners for the UAS Testing Foundation and the Communication (Defence) Testing Foundation, respectively. The proposed DTI UAS facility will cover 11,500 sq. ft., while the Communication Systems facility will span 9,000 sq. ft. Both facilities will be supported by ancillary infrastructure, including office spaces, within the Technopark@IITK premises.

With more private players entering the defence ecosystem, these facilities will offer them the opportunity to test their products efficiently and ensure high-quality standards, ultimately contributing to enhanced self-reliance.

New Delhi, 19th November 2024 – Shiv Nadar University, Delhi-NCR, and Atal Incubation Center at Shiv Nadar University, in partnership with the Global Trade and Innovation Policy Alliance (GTIPA) and the Institute for Competitiveness, hosted the GTIPA Summit 2024 from 14th – 15th November in Delhi. This prestigious summit, held for the first time in India, gathered global policymakers, industry leaders, and academic experts to foster dialogue on global trade, innovation policy and strategies for sustainable economic growth.

The two-day summit, themed “India: The Innovation Hub for Tomorrow,” is spotlighting leaders from over 35 countries, including diplomats, bureaucrats, industry CEOs, startup founders, and investors. Day 1 of the summit brought together leaders from various regions, including the US, UK, and Asia Pacific. It featured an impressive lineup of speakers, including academicians, leading researchers, government officials, and regulatory experts. Notable highlights included panels on the future of global trade and innovation, providing attendees with practical insights into crucial topics such as regulatory frameworks, innovation policy, and emerging technology trends.

At a welcome dinner held prior to the conference, Mr. Abhay Karandikar, Secretary of the Department of Science and Technology (DST), Ministry of Science and Technology, Government of India, shared valuable insights into the India’s rapidly expanding innovation ecosystem. He emphasized the rise of over 10,000 deep-tech startups across fields such as artificial intelligence, clean energy, and biotechnology, many of which are translating academic research into commercial success. Mr. Karandikar highlighted the Ministry’s active support, noting the provision of funding to approximately 700 startups in these critical sectors. Looking ahead, he expressed optimism that increased private sector investment in research and development would further drive India’s ascent as a global innovation powerhouse over the next decade.

In his keynote address, Montek Singh Ahluwalia, former Deputy Chairman of the Planning Commission of India, emphasized, “Innovation is driven by creative destruction—the need to replace outdated systems with more efficient ones. India’s strength in software and emerging sectors like drones offers a unique opportunity to build globally competitive products. However, for India to lead, we must foster a more open trade regime that enables startups to thrive, focusing not just on growth but on profitability and long-term sustainability. Institutions like Shiv Nadar University play a crucial role in nurturing talent and fostering the kind of innovation that will shape the industries of the future.”

Dr. Rajat Kathuria, Dean, School of Humanities and Social Sciences, Shiv Nadar University, Delhi-NCR, mentioned, “India stands at the confluence of technological progress and societal transformation, driving innovation not only in advanced technologies but in tackling global challenges like climate change, healthcare, and economic equity. At Shiv Nadar University, we believe sustainable innovation flourishes where science, technology, policy, and humanities intersect. True innovation shapes a better tomorrow by addressing today’s challenges with inclusivity and sustainability. Platforms like the GTIPA Summit are crucial for fostering collaboration and amplifying diverse voices to solidify India’s leadership in innovation.”

The summit featured influential voices such as Mr. Stephen Ezell Vice President, Global Innovation Policy, The Information Technology & Innovation Foundation, John Cabeca, U.S. Intellectual Property Counselor for South Asia, U.S. Patent and Trademark Office (USPTO), American Embassy – New Delhi, Mr Richard Dasher, Director, US-ATMC, Stanford University, Dr Rajat Kathuria, Dean, School of Humanities and Social Sciences & Professor, Department of Economics, Shiv Nadar University and Dr. Sheeba Khan, CEO, Shiv Nadar Atal Incubation Centre (AIC).

Key discussions covered India’s growing role in global semiconductor supply chains, regional innovation ecosystems driving national growth, and regulatory frameworks in life sciences and healthcare to accelerate sector advancements.

On Day 2 of the summit, delegates visited the Shiv Nadar University, Delhi-NCR campus for an immersive experience. This included guided tours of the university’s state-of-the-art Search and Innovation Labs, offering a glimpse into groundbreaking research projects. Additionally, a startup exhibition was organized, showcasing innovative ventures incubated at the Shiv Nadar Atal Incubation Centre (AIC). The exhibition highlighted the creativity, market-ready solutions, and entrepreneurial talent emerging from India’s vibrant startup ecosystem, further emphasizing the nation’s role as a global innovation leader.

Since 2021, Shiv Nadar AIC has been a member of the GTIPA alliance, which hosts its annual summit in different countries each year. The 2024 summit marks the first time this event is being held in India, a significant milestone for both GTIPA and Shiv Nadar University. As GTIPA 2024 progresses, attendees look forward to further insights and strategies to enhance India’s role in the global innovation landscape.

New Delhi, 19th November 2024: NTPC Limited, India’s largest integrated power utility, paid its First Interim Dividend of Rs. 2,424 crore on 18th November 2024 for the financial year 2024-25, representing 25% of the company’s paid-up equity share capital.

Shri Gurdeep Singh, CMD along with members of the Board of Directors, presented the First Interim Dividend payment advice of Rs. 1,238.84 crore representing the Government of India’s share to the Hon’ble Minister of Power and Housing & Urban Affairs, Shri Manohar Lal. Shri Pankaj Agarwal, Secretary (Power), and senior officials from the Ministry of Power (MoP) and NTPC attended the presentation event at Nirman Bhawan in New Delhi.

This marks the 32nd consecutive year that NTPC Ltd. has distributed dividends to its shareholders.