Archives January 2025

New Delhi, 21 Jan, 2025 – The Duolingo English Test (DET), a global pioneer in digital English proficiency testing, trusted by over 3 million test-takers worldwide and accepted by more than 5,500 leading universities across the globe, has launched the DETermined scholarship to empower Indian women in STEM. The initiative was announced at a press conference in New Delhi by Severin Hacker, CTO and Co-Founder of Duolingo, who was joined by Carrie Wang, Senior Director, Head of Growth, Duolingo English Test. Launched in collaboration with the Office of the Principal Scientific Adviser (PSA) as the knowledge partner, the DETermined scholarship is designed to support ambitious and talented Indian women by offering a one-time grant of USD 30,000 to cover tuition fees for a master’s degree in STEM at a US university that accepts the DET for admissions for the academic year 2026–2027.

India has made significant strides in STEM education, achieving the highest global women in STEM participation, rising from 38.4 percent a decade ago to 42.6 percent, according to data from the University Grants Commission (UGC). The DETermined Scholarship is a significant step toward breaking gender barriers in STEM education for the next generation of women leaders. This initiative reaffirms DET’s commitment to fostering a more inclusive and diverse global education ecosystem. By supporting women innovators and leaders, DET aims to contribute to India’s growing reputation as a global hub for science, technology and innovation.

The Office of the Principal Scientific Adviser to the Government of India (GoI) will play a pivotal role as the knowledge partner for this initiative. The GoI has consistently emphasized the importance of bridging gender gaps in STEM, recognizing that increasing the participation of women in these fields leads to enhanced scientific outcomes, greater diversity and economic growth. Empowering women in STEM also drives innovation, introducing fresh perspectives and ideas that accelerate progress in science and technology. The DETermined Scholarship builds on this vision by offering talented women the opportunity to pursue world-class education and return to India as innovators and changemakers. The PSA will facilitate applications through the Manthan portal and contribute to the jury that selects the scholarship awardees to ensure a transparent and impactful selection process.

Key Features of the Scholarship

• Mentorship Opportunities: Finalists will receive guidance and support from STEM experts, helping them navigate their academic and professional journeys.
• Comprehensive Selection Process: Applicants will undergo a rigorous three-step selection process, including an application phase, a STEM impact proposal challenge and a final interview.
• Eligibility: Open to women who are Indian citizens, hold a bachelor’s degree or equivalent in a STEM field, have demonstrated leadership in science and technology and show intent to contribute to India’s global innovation footprint upon returning from their studies.

Dr. Sapna Poti, Director, Strategic Alliances, Office of the Principal Scientific Adviser to the Government of India said “The Office of the PSA is deeply committed to empowering women in STEM to foster diversity and drive innovation. With India leading globally in women’s participation in STEM, we are pleased to partner with the Duolingo English Test for the DETermined Scholarship. This initiative will offer talented Indian women access to world-class education and cutting-edge skills. By making English testing more accessible, the DET opens doors to premier institutions, empowering women to contribute to the vision of Viksit Bharat and become leaders in driving global innovation.”

Severin Hacker, Co-founder and CTO, Duolingo said “Having experienced the transformative power of education as a student abroad who had the chance to study in the US, I strongly believe that providing opportunities to students is key to unlocking their potential. The philosophy behind the DETermined Scholarship is rooted in Duolingo’s mission to make education accessible to all. We are pleased to partner with the Office of the Principal Scientific Adviser for this scholarship, aligning our shared vision of empowering the next generation of leaders. By supporting talented women in STEM, we are not only helping them realize their dreams but also contributing to a more inclusive and innovative future for India and the world. It reflects our commitment to breaking down barriers and ensuring that every student has the chance to thrive, regardless of their background.”

The Duolingo English Test serves as an accessible, flexible and affordable way for students to showcase their English proficiency. With a focus on convenience, DET allows students to take the test online from anywhere and at any time with results available in 48 hours. Its AI-powered security protocols ensure test integrity, providing a reliable and widely accepted measure of English language skills. By taking the DET, students can gain admission to over 5,500 programs worldwide, making it a valuable tool in pursuing academic dreams particularly for those applying for the DETermined Scholarship.

By addressing financial and mentorship barriers, the DETermined Scholarship is poised to inspire countless Indian women to pursue their aspirations in STEM. This initiative exemplifies DET’s mission to create accessible pathways for students and demonstrates its deep commitment to India’s educational advancement.

New Delhi, India – January 21st, 2025 – SGF India, a leading name in vegetarian dining, is excited to announce the opening of its 24/7 outlet in Amritsar. Famous for its vibrant street food culture and diverse culinary offerings, Amritsar now welcomes SGF’s distinctive flavors, including its celebrated soy chaaps, which have quickly become a favorite among food lovers.

SGF India is redefining vegetarian dining with a focus on healthy, protein-rich meals. The Amritsar outlet features the brand’s signature live tandoor counters, offering a range of mouthwatering soy chaaps, flavorful North Indian specialties, and refreshing coolers, all in a modern, inviting setting. To celebrate this launch, SGF India is offering a Buy One Get One (BOGO) promotion, giving foodies the perfect opportunity to explore the brand’s signature dishes.

Adding to the convenience and appeal, SGF India has partnered with Tree House Hotel on Queen’s Road to offer both dine-in and takeaway options. This collaboration enables SGF India to provide a seamless dining experience for locals and travelers alike. The hotel’s strategic location, just five minutes from the railway station and fifteen minutes from the iconic Golden Temple, makes it an ideal spot for food enthusiasts. Furthermore, SGF India is offering catering services for special occasions, gatherings and other events, ensuring a delightful and hassle-free experience for customers.

“Amritsar is known for its rich street food culture, and we are excited to bring SGF’s unique, nutritious offerings to the city. Our unique chaaps, a favorite among food lovers, will now be available around the clock, offering a delicious and health-conscious dining experience,” said Mr. Kewal Ashwani Ahuja, Founder & CEO of SGF India.

SGF India continues to expand its footprint, with an upcoming opening in Bhopal in January 2025, further strengthening its presence in the country. The brand remains committed to providing nutritious, flavorful meals in modern spaces, catering to health-conscious diners across India.

Bengaluru, India. TÜV SÜD South Asia, a leading certification, testing, auditing, inspection, and training company and the wholly owned subsidiary of TÜV SÜD Group, Germany, announced the launch of the E-Mobility Training Mobile Lab. This initiative aims to provide advanced, hands-on training opportunities for technicians, engineers, and first responders, equipping them with essential skills to safely handle high-voltage systems in the rapidly evolving Electric Vehicle (EV) industry.

The ‘TÜV SÜD E-Mobility Training Mobile Lab’ was inaugurated at the hands of Mr. Simon Lemin, CEO, TÜV SÜD South Asia, Mr. Vishal Nerurkar, Senior Vice President – Business Assurance, TÜV SÜD South Asia, Mr. Robert Kees, CEO, TÜV SÜD Business Assurance Division and Mr. Jorg Schemat, Head of BU Academy and CEO of TÜV SÜD Akademie GmbH.

TÜV SÜD offers a range of EV training programs, including the E-Mobility Course Level 1: Safe Handling of High Voltage Systems in Motor Vehicle, E-Mobility Course Level 2: Qualified Electrician for HV Systems in Motor Vehicle, and E-Mobility Course Level 3: Live Working for Qualified Electrician for HV Systems in Motor Vehicle. These programs benefit participants by enhancing their expertise in high-voltage safety, ensuring proper use of personal protective equipment (PPE), and providing a thorough understanding of the integration of components within EV. Through the training, participants are equipped with the necessary knowledge to assess and implement risk mitigation strategies. The E-Mobility Training Mobile Lab supports both organisations lacking EV infrastructure and individuals seeking to advance their e-mobility knowledge in the evolving automotive landscape.

“The launch of our E-Mobility Training Laboratory represents a significant step forward in advancing the skills and safety standards of professionals in the e-mobility sector,” said Mr. Simon Lemin, Chief Executive Officer, TÜV SÜD South Asia. “We are proud to empower organisations and individuals through practical training solutions that deliver real-world, hands-on experience with high-voltage systems, fostering both knowledge and skill development.”

TÜV SÜD South Asia has been catering to the learning needs of professionals in India, Bangladesh, and other English-speaking countries for over two decades. With more than 300 training topics, these training programs are designed and developed by industry experts with the goal of equipping learners with the latest information, technologies, and real-world use cases, while enhancing their ability to apply this knowledge effectively in a dynamic business environment.

Mumbai, India – 21 January 2025: To target a three-fold rise in total revenue in the next five years, Dee Development Engineers, a major player in process piping solutions, today announced the commission of 2nd phase of its new, cutting-edge manufacturing plant in Anjar, Gujarat, through which it has enhanced the capacity by 9000 MT per annum and making the operational capacity to 12,000 MT per annum. This facility shall primarily cater to the jobs of the oil and gas piping sector.

“The total investment in this state-of-the-art facility amounts to ₹250 crores. Of this, ₹160 crores will be allocated to the process piping solutions plant, which has an annual capacity of 27,000 metric tons. Till now the capacity of 12,000 MT has been commissioned and the company is contemplating enhancing the balance capacity of 15000 MT shall be commissioned by October 2025. Additionally, ₹90 crores will be invested in establishing a seamless pipe manufacturing facility specializing in high wall thickness pipes, with a planned annual production capacity of 7,000 metric tons. This seamless pipe facility is expected to be commissioned by January 2026” said Mr. KrishanLalit Bansal, Chairman& Managing Director, of DEE Development Engineers Limited.

Of the total ₹260 crore investment, an initial ₹150 crore has already been invested, partly financed by bank borrowing of ₹40 crores. The balance investment, amounting to 110 crores, will be entirely funded through debt.

“The facility is a key element of Dee Development Engineers’ long-term growth strategy, aimed at catering to the increasing demand for high-quality process piping solutions and high wall thickness pipes.” Mr. Bansal said that over the next three to five years, the company is targeting a three-fold increase in revenue. The facility will drive operational efficiency and enhance the EBITDA margin.

This significant investment is integral to Dee Development’s strategy to capitalize on growing opportunities in the oil and gas sector. The new facility will enable the company to effectively meet the rising demand for high-quality process piping solutions and thick seamless pipes, positioning us to benefit from orders within this industry.

Job Creation and Local Economic Impact
This new facility, spanning 47 acres, will have a significant impact on the local community by generating approximately 100 direct employment opportunities and around 500 additional jobs for labourers. Beyond direct employment, the plant will contribute to the local economy by creating demand for various support services and businesses. Dee Development is committed to fostering economic growth in Anjar and the broader Gujarat region

Technology, Innovation, and Sustainability
Dee Development has integrated cutting-edge automation and semi-automation technologies into the plant, optimizing production efficiency and operational precision. Additionally, the facility adopts lean manufacturing principles, reducing material handling and further enhancing overall production effectiveness.

Strategic Importance and Future Plans
This plant is an integral part of Dee Development’s long-term growth strategy, designed to meet the increasing demand for advanced process piping solutions in the oil and gas industry. Market research projects a 7% annual growth rate for the sector over the next decade, driven by technological advancements and rising demand for oil, gas, and hydrogen solutions.
The company anticipates reaching its full production capacity of 27,000 metric tons of process piping solutions by October 1, 2025, with seamless pipe production slated to begin wef 1st January 2026.

Mr. Kapal Suresh Pansari, Managing Director, RP Tech

“The upcoming Union Budget is an important moment for the technology sector, and we are eager to see measures that support India’s digital-first ambitions. Incentives for Make in India initiatives and investments in infrastructure could significantly enhance the ICT supply chain. Additionally, policies fostering innovation and skill development will be key to strengthening India’s position as a global technology leader. We are optimistic about the budget paving the way for sustainable growth and new opportunities in the sector.”

Sarvjeet Singh Virk, Co-founder & MD, Jumpp outlining

Introducing specialised regulatory sandboxes for AI-powered financial products, vernacular fintech solutions, and localised innovations for regional financial institutions would be a transformative step forward. Additionally, further development of AI infrastructure through dedicated funds for AI Centers of Excellence in tier-2 cities and multilingual financial literacy platforms will be pivotal.

Inclusivity in financial services needs to become a stronger focus. I see the value in incentivising vernacular financial interfaces, voice-based banking, and regional language chatbots, which could help replicate the success of UPI in areas like insurance and investments.

I also believe that increased allocation for UPI infrastructure in rural areas, specialised fintech training programs, and targeted incentives for rural fintech adoption must remain priorities. Additionally, expanding Smart City projects to include digital payment corridors and fintech hubs in smaller cities will go a long way in strengthening regional ecosystems.”

Hardik Adhiya, Chief Operating Officer, Onix Group

” Capacity building in domestic manufacturing and renewable energy generation will build the energy transition pathway for the country to achieve the target to reach 500 GW of renewable energy by 2030. In line with that vision, the renewable energy sector expects the Union Budget 2025-26 to announce some proposals and targeted measures to reduce import dependence in sourcing equipment while strengthening the storage, transmission and distribution network. The budget needs to reflect policy continuity in terms of the PLI scheme to build domestic manufacturing capacity of solar panels, modules and PV cells, which is pivotal in attaining self-reliance and competitiveness. In addition, the budget should announce incentives for banks and financial institutions to boost lending to the renewable energy sector. Moreover, we expect the budget to propose measures to incentivize renewable energy adoption in mobility as well as energy consumption and offer fiscal support to develop renewable energy infrastructure development and catalyze renewable energy projects, building a sustainable future.”

Ramadass Selvaraj, Chief Operating Officer at Pathfinder Global

‘We are looking forward to the Union Budget 2025, as it presents an excellent opportunity to further strengthen the growth of the quick commerce sector and empower small retailers, including Kirana stores. The retail landscape in India is evolving rapidly, and we anticipate the introduction of regulatory actions that will support the integration of advanced technology, particularly for small businesses. With the rise of digital-first platforms, it’s more critical than ever to ensure small businesses are equipped with the right tools to stay competitive. We expect the government to focus on policies that enhance the adoption of AI, streamline operations, and create more efficient supply chains for these retailers.

We believe the Union Budget will pave the way for small retailers to embrace these transformative technologies, enabling them to elevate customer experiences, optimize their operations, and remain relevant in this fast-evolving market. As the retail sector shifts towards a hybrid model that blends digital and physical experiences, the industry must empower retailers to leverage technology and adapt to this new era of retail. We are confident that these changes will level the playing field and foster sustainable growth across the sector.’

Bengaluru, Jan 21

Skydo Technologies Private Limited, a leading cross-border payments company, has received in-principle authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border (PA-CB) entity. Skydo is among the first companies in the cross-border payments space to receive this authorization.

This further strengthens Skydo’s mission of making cross-border payments compliant, seamless and cost-effective for India’s exporters. Skydo started operations in 2022 and currently serves over 12,000 exporters in India, processing over USD 250 million in annual export payments.

“The RBI in-principle authorization is a testament to our compliance-first culture, secure systems and robust risk controls”, said Awadhesh Ranjan, Head of Risk & Compliance at Skydo.

Skydo’s customers are small and medium businesses selling a range of products and services to customers globally. Skydo partners with leading banks across the world and provides a comprehensive solution to manage their invoicing, payments and reconciliation. Key features include transparent pricing and fees with no markup on live mid-market forex rates, digital onboarding with instant KYC, dedicated customer support, fast settlements, and streamlined regulatory compliance with instant issuance of Foreign Inward Remittance Advice (FIRA).

“As an Indian fintech startup with global ambitions, we are thrilled to receive this approval. We plan to scale our payments volume by 10x over the next 18-24 months, expand to support import payments, and build out more trade corridors globally,” said Srivatsan Sridhar, Co-Founder and CEO of Skydo.

Looking ahead, Skydo plans to introduce several first-to-market offerings for India’s growing MSME export sector. “Starting with payments, we will extend our offerings to credit, tax compliance, treasury services and Export Data Processing and Monitoring System (EDPMS) reconciliation. Together, these products will be a comprehensive cross-border financial operating system for any exporter. By bringing cross-border payments into the Payment

Aggregator framework, RBI has enabled companies like us to build superior technological products and power the international ambitions of Indian businesses,” said Movin Jain, Co-founder of Skydo.

Kolkata, January 21, 2025: Bandhan Life Insurance, a leading life insurance company in India, launched the Bandhan Life Guaranteed Income Plan, now available at Bandhan Bank branches nationwide. This innovative plan offers policyholders a reliable income stream from the very first month, along with life insurance coverage- making it an ideal solution for both short-term needs and long-term financial goals. The plan addresses diverse needs like funding a child’s education, securing retirement, or achieving significant life milestones. With its flexible structure and guaranteed benefits, the plan is an ideal choice for those seeking financial security and protection for their loved ones.

Regarding the launch, Satishwar B., MD & CEO, Bandhan Life Insurance, shared, “At Bandhan Life Insurance, we are committed to empowering our customers with financial security and confidence to achieve their aspirations. Today, when education costs in India are rising by 8-10% annually, and medical costs are increasing by more than 10% each year, having an additional source of income becomes invaluable. Our Guaranteed Income Plan reflects this vision, offering a blend of protection and assured returns that enables individuals to plan for the future without worry. Policyholders can use the additional income for managing everyday expenses or building a long-term fund. With its flexible structure and guaranteed benefits, we believe this plan will meet the need of customers seeking financial stability and peace of mind.”

Key Highlights of Bandhan Life Guaranteed Income Plan

• Assured Regular Payouts: Enjoy a consistent income from the first policy month, ensuring financial stability.
• Multiple Payout Options: Opt for regular income payouts or a lump sum payment at maturity to suit your financial needs.
• Life Insurance Coverage: Along with assured payouts, the plan offers life cover, ensuring financial protection for families in unforeseen circumstances.
• Tax Benefits: The plan qualifies for tax benefits under prevailing laws, making it a smart choice for tax-efficient financial planning.
• Customizable Tenures: Flexible policy, premium payment terms, and income period allow customers to align the plan with their financial objectives and timelines.
• Return of Premium: Get back all your premiums depending on the plan option chosen.

The launch of the Guaranteed Income Plan reinforces Bandhan Life’s commitment to delivering simple, flexible, and reliable financial solutions. In line with its brand promise of ‘Bharat Ki Udaan, Bandhan Se,’ this plan ensures that individuals from diverse regions and backgrounds can easily benefit. It reflects the company’s ongoing efforts to create products that meet real-world needs and help customers achieve their financial goals with confidence.

This January, JW Bakery at JW Marriott Kolkata invites all pastry and coffee enthusiasts to a week-long celebration of World Croissant Day from 24th to 31st January. Combining the artistry of handcrafted croissants with the warmth of signature coffee blends, this event promises a sensory delight for food connoisseurs and casual visitors alike.

Nestled within the luxurious JW Marriott Kolkata, JW Bakery is renowned for its exquisite selection of artisanal desserts and bakes. A perfect blend of tradition and innovation, the bakery has become a favorite destination for those seeking an elevated patisserie experience. With a focus on quality, precision, and creativity, JW Bakery consistently delivers exceptional offerings that cater to every palate.

Leading the charge at JW Bakery is Bhaskar Chakraborty, Executive Pastry Chef at JW Marriott Kolkata. With a dynamic and innovative approach, Chef Bhaskar has become a pivotal force in shaping the hotel’s culinary identity. His strong values of promptness, creativity, and rootedness in gastronomic traditions have been instrumental in his success. From providing strategic leadership in the bakery department to supervising teams that deliver excellent service, Chef Bhaskar ensures that every creation reflects perfection. His passion and expertise are the driving forces behind the carefully curated menu for World Croissant Day.

Mumbai, 21 January 2025: BHIM, India’s flagship digital payments app powered by NPCI BHIM Services Limited (NBSL) has joined forces with The FinTech Yatra 2025 as a Principal Partner. The FinTech Yatra is a 10,000 km long epic road journey aimed at identifying, understanding and catalysing players in financial services across India. This strategic collaboration aims to accelerate India’s digital payment revolution by empowering communities and fostering financial inclusion.

As a part of this partnership, more than 200 individuals from select NGOs will be trained under a train-the-trainer model, equipping them with knowledge and tools to spread digital payment awareness. By empowering trainers at the grassroots level, this initiative ensures that the benefits of digital payments reach the most underserved and remote areas of the country.

Speaking on the partnership, Rahul Handa, Chief Business Officer, NBSL, said, “BHIM’s partnership with Fintech Yatra 2025 is an important step towards bridging the digital divide and educating citizens about secure and efficient digital payment solutions. This initiative aligns with our mission to create a financially inclusive and digitally empowered India. We are excited about the opportunities this partnership brings to strengthen the fintech ecosystem.”

The FinTech Yatra 2025 is a movement to make India digitally independent. It is a platform that enables connection between innovation providers like start-ups and innovation seekers like financial institutions, venture capitalists and large corporates. By visiting multiple cities, engaging with fintech innovators, and collaborating with platforms like BHIM, the Yatra is set to amplify the adoption of seamless and secure digital payments across the nation.

Abhishant Pant, Founder of The FinTech Meetup, added, “Our partnership with BHIM brings a transformative element to this year’s Yatra. BHIM’s proven leadership in the UPI ecosystem ensures that financial inclusion is not just a vision but a reality for millions across the nation. Together, we aim to empower every Indian to embrace the digital economy. Our endeavor has been to support early stage fintech founders with idea validation, network support and guidance around venture capital, so that they become a catalyst to push for more digital adoption in financial services.”

21 January 2025: With 25.6 million sq ft of gross leasing in 2024, industrial & warehousing demand across the top five cities remained healthy, witnessing a marginal 2% YoY growth. Although there was a noticeable dip in leasing activity during the last quarter, strong space uptake in the earlier quarters ensured steady leasing levels during 2024. During the year, Delhi NCR led the demand with a 26% share, closely followed by Chennai at a 23% share. Every quarter, Q4 2024 saw about 5.5 million sq ft of industrial & warehousing demand across the top five cities. Pune, closely followed by Bengaluru, cumulatively accounted for over half of the quarterly demand.

While Third Party Logistics (3PL) players drove overall demand during the year and accounted for a 33% share in overall leasing, demand from Engineering and Electronics segments gained traction. At a micro market level, Bhiwandi in Mumbai led the leasing activity in 2024 with about 4.5 million sq ft of demand, followed by Chakan-Talegaon in Pune and Oragadam in Chennai. Both micro markets contributed to more than 2.5 million sq ft of demand each in their respective cities.

With a 22% YoY rise, 2024 saw over 28 million sq ft of new supply, highest in the recent years, indicating improved developer confidence and an optimistic outlook for the next year. Amidst significant demand rentals in key micro markets rose by 5-10%. Overall vacancy levels at the end of 2024 remained rangebound at around 13-14%.

“While 3PL players continued to dominate demand during 2024 with 33% share in overall leasing, the share has been stabilizing over the last few quarters. Concurrently, space uptake by occupiers from other demand segments continued to pick pace. Engineering and Electronics segments cumulatively accounted for almost one-third of the annual warehousing space uptake in 2024, significantly up from their combined one-fourth demand share in 2023. Moreover, with the rise of Q-commerce, demand from segments like FMCG and Retail are seeing an uptick and are poised for long-term growth across major urban centers.” says Vijay Ganesh, Managing Director, Industrial & Logistics Services, Colliers India.

3PL occupiers drove large-sized deals across cities

During the year 2024, large deals (≥ 200,000 sq ft) accounted for about 40% of the overall demand. While, with 35% share, 3PL players continued to account for majority of the large ticket transactions. Engineering segment also contributed significantly with about 20% share in large-sized deals. Interestingly, in the Electronics segment, the quantum of large deals rose significantly, ~4.5X times in 2024 as compared to 2023. At the city level, space uptake from large-sized deals was highest in Delhi NCR during 2024.

Delhi NCR & Chennai cumulatively drove around 50% of overall demand & supply in 2024

“With 6.6 million sq ft of leasing activity, Delhi NCR regained the dominant position in terms of industrial & warehousing demand for 2024. Chennai too continued to perform well in 2024, witnessing 18% year-on-year annual demand growth and more than 5 million sq ft of new Grade A supply during 2024. Healthy market fundamentals reflect confidence of both occupiers and developers. Moreover, the Chennai industrial & warehousing market is poised to grow further over the next few years, led by its positioning as a leading industrial zone and established automobile manufacturing hub of Southern India.” says Vimal Nadar, Senior Director & Head, Research, Colliers India.

With 22% YoY rise, 2024 saw over 28 million sq ft of new supply with close to 10 million sq ft of new industrial and warehousing developments in Delhi NCR alone. The city accounted for about 35% share in overall completions during the year. At the overall level, along with the highest annual new supply since 2020, completions were significant during Q4 2024. With 6.7 million sq ft of completions in the last quarter, the top five cities witnessed a 5% YoY rise in new supply.