Archives February 2025

Chandigarh, February 19th, 2025: Burgundy Private, Axis Bank’s Private Banking Business, and Hurun India launched the ‘2024 Burgundy Private Hurun India 500,’ the fourth edition of the list of India’s 500 most valuable companies. These companies are ranked according to their value, defined as market capitalisation for listed companies and valuations for non-listed companies. This list exclusively includes companies headquartered in India, excluding state-owned companies and subsidiaries of foreign and Indian companies.

To qualify for inclusion in the ‘2024 Burgundy Private Hurun India 500’ list, companies must have a minimum value of INR 9,580 crore, equivalent to US$1.1 billion, as of 13 December 2024. The average age of the companies on this list is 43 years. The combined value of the 2024 Burgundy Private Hurun India 500 companies amounts to INR 324 lakh crore (US$3.8 trillion). Over the same period last year, BSE SENSEX increased by 27%, NIFTY 50 grew by 30% year–on–year (YoY), whilst the S&P BSE 500 rose by 38%.

Commenting on the launch, Amitabh Chaudhry, Managing Director and Chief Executive Officer, Axis Bank, said: “Burgundy Private is delighted to partner with Hurun India once again to celebrate India’s 500 most valuable companies. The 2024 Burgundy Private Hurun India 500 report is a remarkable snapshot of India’s corporate landscape, which is undergoing unprecedented transformation. By rethinking strategies, innovating, and adapting to new realities to stay ahead of the curve, the companies featured on this year’s list have seized growth opportunities to emerge as exemplary leaders in their respective industries. With capital markets becoming more dynamic than ever, these companies have demonstrated vision, resilience, and agility to create immense value for their stakeholders.

The entry threshold for the Burgundy Private Hurun report has jumped 43% this year to INR 9,580 crore, making every company nearly a billion-dollar entity. This is a testament to India’s growing economic prowess. These companies are significantly contributing to fortifying the nation’s economic framework by employing 8.4 million individuals, paying INR 2.2 lakh crore in taxes, and allocating INR 10,939 crore towards CSR initiatives. Collectively valued at US$3.8 trillion, these 500 companies’ values are higher than the GDP of India as well as the combined GDPs of UAE, Indonesia, and Spain.

At Axis Bank, we are proud to support India’s growth story. Through Burgundy Private, we empower our clients to seize transformative investment opportunities, leveraging our ‘One Axis’ ecosystem to deliver tailored wealth management solutions. With our AUM growing to over US$24 billion, a 31% YoY increase, we remain a trusted partner for India’s wealthiest families. As we unveil the 2024 report, we are excited to witness the transformative impact of these companies in creating new opportunities and driving India toward its goal of becoming a US$5 trillion economy.”

Anas Rahman Junaid, Founder and Chief Researcher, Hurun India, said: “The companies from 2024 Burgundy Private Hurun India 500 make up the ‘backbone’ of India’s private sector, wielding significant economic influence. Between them, they have a cumulative valuation of US$3.8 trillion, which is higher than India’s annual GDP, and employ 8.4 million people. If you want to understand how the Indian economy is developing, understanding the stories behind 2024 Burgundy Private Hurun India 500, India’s most valuable companies, is a great place to start.”

“2024 Burgundy Private Hurun India 500 show how India’s economy has gone through a massive change in just three years. Eighty-two of 2024 Burgundy Private Hurun India 500 are new faces. Another way of looking at it is that more than one-third of the companies from three years ago have dropped off. Analysing these new faces and drop-offs provides an insight into the shift in the economy. The industries with the most new entrants were industrial products, healthcare, and energy, while the industry with the most drop-offs was financial services.”

“Only 33 of 2024 Burgundy Private Hurun India 500 made the Hurun Global 1000. One reason is that these Indian companies are, relatively speaking, very young. The average age of 2024 Burgundy Private Hurun India 500 is 43 years, 24 years younger than the average age of the Hurun Global 500.”

“The qualification threshold for the 2024 Burgundy Private Hurun India 500 has increased from INR 6,700 crore to INR 9,580 crore, reflecting the financial growth of Indian enterprises. For the first time, every company on the list has achieved billion-dollar status. The cumulative revenue of these companies is US$ 1 trillion, which is more than a quarter of India’s GDP.”

“At the heart of this list is the remarkable diversity, spanning from the venerable 192-year-old P N G Jewellers to startups founded as recently as 2021. This blend of historical legacy with innovative entrepreneurship symbolises the dynamic and evolving nature of India’s economic landscape, showcasing its strength and adaptability on the global stage.”

“Nearly 60% of Burgundy Private Hurun India 500 companies, ranked by value, do not appear in the Fortune India 500, which is ranked by revenue. The Hurun 500 prioritizes future profit potential over current sales. Our list does not include state-owned enterprises, so India’s most valuable state-owned listed company, State Bank of India, worth about INR 7.7 lakh crore, is not on the list. Well over 100 Indian state-owned companies could have made our list, both listed companies and non-listed companies, such as LIC, NTPC, ONGC, and so on.”

“Indian startup IPOs have been gaining strong momentum, reflecting renewed investor confidence in the ecosystem. In the 2024 Burgundy Private Hurun India 500, startups not only reversed their INR 4 lakh crore valuation decline from 2023 but also added INR 4.4 lakh crore in value. Zepto, Physics Wallah, and Oyo secured fresh funding rounds at higher valuations, while listed startups saw a sharp rise in market capitalization. Zomato alone added INR 1.7 lakh crore, contributing to a total INR 3.9 lakh crore valuation gain across all publicly listed startups. This surge underscores growing optimism in the startup IPO market, signaling a robust pipeline for future public listings.”

“More Indian companies are going global! According to the 2024 Burgundy Private Hurun India 500, 296 companies—59% of the list—have an international presence, with 31 operating in over 100 countries. As India’s economy nears US$3.7 trillion, this global expansion is driving foreign exchange earnings, strengthening trade partnerships, and attracting investments, positioning India as a formidable force in the world economy.”

“Financial services lead 2024 Burgundy Private Hurun India 500 with 63 companies valued at INR 62 lakh crore, contributing 19% of the total. This reflects rising credit penetration, strong investor confidence, and India’s status as a global financial hub.”

“2024 Burgundy Private Hurun India 500 reflects India’s rapidly evolving economy. Aerospace & Defence registered 74% increase in valuation. This surge is fuelled by commercialization, global collaborations, and a strong focus on advanced technologies and space missions.”

“The education sector has experienced a Compound Annual Growth Rate (CAGR) of 47% in revenue over the past four years. One significant entrant in the 2024 Burgundy Private Hurun India 500, Physics Wallah, has reported the highest growth with a 172% increase from the previous year and an absolute value increase of INR 14,900 crore.”

“Market dominance redefined – Tata holds the crown, Adani strengthens its grip, and Reliance proves that size isn’t everything! Tata Group has retained its leading position with 15 companies, contributing 10% of the total cumulative value in the 2024 Burgundy Private Hurun India 500. Adani Group expanded its presence by adding one more company, bringing its total to 9 companies this year. Despite having only 3 companies, Reliance Group secured the second rank in cumulative value, highlighting its significant market impact.”

“The business map of 2024 Burgundy Private Hurun India 500 list is changing. While Mumbai and Bangalore saw declines, Haryana advanced. For the first time since the inaugural list, Haryana has moved up two spots to join the top three states in the 2024 Burgundy Private Hurun India 500 ranking. This year, major cities like Mumbai and Bangalore experienced a decrease in the number of companies, while smaller cities such as Hyderabad, Gurugram, and Noida saw a significant increase, indicating a shift in India’s business landscape.”

“Burgundy Private Hurun India 500 companies are employing more people than ever. In 2024, their workforce grew by 20%, adding nearly 1.4 million new jobs and expanding to a total of 8.4 million employees. These companies now employ around 16% of India’s total workforce, highlighting their significant role in national employment.”

“Women now occupy 17% of board seats in 2024 Burgundy Private Hurun India 500, reflecting the impact of growing gender diversity initiatives and workplace policies aimed at fostering equal opportunities. Across the year, 13 women have stepped into leadership roles, showcasing the evolving landscape of executive representation.”

“Despite India’s rapid business growth, the 2024 Burgundy Private Hurun India 500 highlights a critical gap—there isn’t a single AI company on the scale of OpenAI or DeepSeek in the list. While global leaders leverage AI for efficiency and innovation, many Indian enterprises have yet to unlock their full potential. If India wants to stay globally competitive, accelerating AI adoption and fostering homegrown AI giants must be a priority.”

“Hurun India is proud to partner with Burgundy Private, Axis Bank’s private banking business for the Top 500 Indian companies list for four consecutive years. This collaboration highlights the crucial role of Indian companies’ growth and their contribution to driving business expansion within the Indian financial ecosystem,” concluded Anas Rahman Junaid, Founder and Chief Researcher, at Hurun India.

Chandigarh, February 19, 2025 – Kalyani Strategic Systems Limited, a wholly-owned defense subsidiary of Bharat Forge, proudly unveiled the MArG 45, a mobile gun system mounted on a 4×4 all-terrain platform, at IDEX Abu Dhabi 2025. The prestigious launch was officiated by H.E. Shri Sunjay Sudhir, Ambassador of India to the UAE, reinforcing India’s commitment to advancing global defense technology.

MArG 45 exemplifies Kalyani Group’s ingenuity in challenging conventions, integrating firepower, range, and mobility into a single, ground-breaking platform. Designed for rapid deployment and superior maneuverability, it is a “go-anywhere” gun with unparalleled shoot-and-scoot capabilities.

Mr. Baba Kalyani, Chairman & MD, Bharat Forge Ltd., commented on this milestone: “This Mounted Gun Platform represents a significant leap in defense technology, showcasing our commitment to innovation and excellence. It is a testament to our capability to develop ‘Designed and Made in India’ most advanced artillery defence platforms.”

The unveiling of MArG 45 marks a significant milestone in mobile artillery, reinforcing Kalyani Group’s commitment to self-reliance and cutting-edge defense innovation. This breakthrough system is set to redefine modern battlefield capabilities with its exceptional agility, firepower, and rapid deployment efficiency.

MArG 45 offers unmatched firepower, capable of firing beyond 36 km using conventional ammunition. Built for superior mobility, its tailor-made chassis, developed in-house, ensures maximum agility in diverse combat environments. The system is compatible with NATO-standard and in-service ammunition, enhancing its versatility. Weighing 23.5 tons, it carries 18 rounds with Zone 6 onboard, enabling sustained operations. Designed for rapid deployment, it boasts a coming-into-action time of just 1.5 minutes during the day and 2 minutes at night. With an elevation range of -2° to +72° and a traverse of 25° left and right, it delivers exceptional battlefield adaptability. The gun features an intense rate of fire of 10 rounds in 3 minutes and a sustained rate of 42 rounds in 60 minutes, ensuring continuous firepower during combat.

Chandigarh, February 19, 2025: TVS Motor Company, a leading global automaker in the two and three-wheeler segment, announced the launch of the all-new TVS RONIN 2025 Edition – a bold new iteration of its category-defining modern-retro motorcycle. Since its inception, the TVS RONIN has redefined motorcycling by blending the timeless appeal of retro aesthetics with cutting-edge technology and contemporary riding. The 2025 TVS RONIN now introduces vibrant colours, a sleek new style and enhanced features.

Designed for the free-spirited rider who embraces life beyond the script, the 2025 TVS RONIN has been launched with two additional striking colours: Glacier Silver and Charcoal Ember. This addition highlights TVS Motor’s commitment to providing customers with fresh, bold choices that enhance the bike’s overall visual appeal and give it a sharp, modern edge. Along with its eye-catching new colours, the 2025 edition now has Dual Channel ABS in its mid variant, starting at an attractive price.

Commenting on the launch, Mr. Vimal Sumbly, Head Business – Premium, TVS Motor Company, said, “TVS RONIN has redefined modern-retro motorcycling in the country and continues to embody the essence of #Unscripted motorcycling, empowering riders to explore unchartered paths with confidence and style. With the 2025 edition, we bring in a new palette of striking colours along with upgraded safety features and are excited to bring this refreshed model to our customers and look forward to their enthusiastic response as they experience the next chapter of the TVS RONIN’s journey.”

This upgrade helps set apart all three RONIN variants and maintains a strong balance between style and functionality. The 2025 TVS RONIN will be available at authorized TVS dealerships across India, starting at INR 1,35 lakh (ex-showroom.)

Complementing the TVS RONIN’s modern-retro aesthetics is a powerful 225.9cc engine, delivering 20.4 PS at 7,750 RPM and 19.93 Nm of torque at 3,750 RPM. Designed for versatility, it features Glide through Technology (GTT) for smooth low-speed riding, an assist and slipper clutch for effortless gearshifts, and an upside-down front fork for superior handling.

Chandigarh, February 19, 2025: JioStar Network will be the home of the ICC Men’s Champions Trophy 2025, delivering a ground-breaking presentation of the prestigious tournament starting February 19. With the world’s top eight teams set to clash in high-stakes encounters, the broadcaster will offer an unparalleled viewing experience across both linear television and digital platforms.

On TV, in addition to the English feed, the network will provide coverage in Hindi, Tamil, Telugu, and Kannada across Star Sports and Sports18 channels. For the first time on digital, an ICC tournament will be streamed live across 16 feeds, including nine languages: English, Hindi, Marathi, Haryanvi, Bengali, Bhojpuri, Tamil, Telugu, and Kannada. In addition to the language options, the live streaming on JioHotstar will be complemented by four multi-cam feeds.

Enhancing the coverage, the Indian Sign Language feed and Audio Descriptive Commentary will return on JioHotstar, ensuring an inclusive experience for audiences. This ground-breaking initiative by the JioStar network won a National Award in the Category of Institutions Engaged in Empowering Persons with Disabilities 2024. The hugely successful vertical feed (MaxView) will be available in Hindi and English, providing fans with an easier and more intuitive mobile viewing experience, and allowing them to consume content on the go.

Speaking about the presentation for the tournament that returns after eight years, Siddharth Sharma, Head of Content – JioStar, Sports said, “The ICC Men’s Champions Trophy 2025 will be presented to fans with an unprecedented degree of viewing options and experiences. With the combined might of the widest linear television sports network in the country and the biggest digital sports platform, the thrills of this format will not only go deeper and wider, but also be more immersive, innovative, and inclusive. We have created a touchpoint of engagement or innovation for every viewer, no matter what their preference, which makes our presentation of the tournament a never-seen-before experience.”

A star-studded line-up of cricket legends from seven different countries will bring their expert insights and electrifying commentary to viewers, elevating the excitement of the ICC Men’s Champions Trophy 2025. Ravi Shastri, Sunil Gavaskar, Nasser Hussain, Matthew Hayden, Ian Bishop, Wasim Akram, Ramiz Raja, Simon Doull, Dale Steyn, Shaun Pollock, and Aaron Finch will join forces for JioStar’s English coverage, offering incisive match analysis and edge-of-the-seat commentary to match the high-octane action on the field.

The Hindi coverage of the ICC Men’s Champions Trophy 2025 will feature a stellar roster of cricketing icons, including Suresh Raina, Harbhajan Singh, Wahab Riaz, Waqar Younis, Sanjay Manjrekar, Ambati Rayudu, Robin Uthappa, Mohammad Kaif, Piyush Chawla, Sanjay Bangar, Aakash Chopra, and Deep Dasgupta. Additionally, the presentation of the regional language will showcase a line-up of renowned names from the Indian cricket scene, such as Hanuma Vihari, Abhinav Mukund, MSK Prasad, R Sridhar, Murali Vijay, S Badrinath, Venkatesh Prasad, Sunil Joshi, Kedar Jadhav, and many more, bringing unparalleled depth and expertise to the broadcast.

The ICC Men’s Champions Trophy 2025 kicks off on February 19, with Pakistan taking on New Zealand in an exciting opener. Team India, led by Rohit Sharma, will begin their campaign against Bangladesh in Dubai on February 20 at 2:30 PM IST. Their group stage fixtures also include the highly-anticipated clash with Pakistan on February 23 and a match against New Zealand on March 2. The tournament will culminate with the final on March 9. All matches will be broadcast on the JioStar Network and streamed live on JioHotstar.

Speaking exclusively on Amul Cricket Live on JioHotstar, Mithali Raj shared her thoughts on RCB’s dominant performance: “Right from the first over when Renuka Singh dismissed Shafali Varma, RCB took control of the game. From that moment on, Smriti Mandhana has not put a foot wrong. Every bowling change she made resulted in a breakthrough. The way she led the innings, along with Danni Wyatt, provided a strong foundation for their batting line-up.”

Speaking on Amul Cricket Live on JioHotstar, Stacy-Ann King praised Smriti Mandhana’s performance: “She was outstanding tonight. The way she maneuvered and executed her shots was exceptional. We saw several strokes on the leg side, but her elegance through the off side was truly remarkable. She pierced the field with precision, going up and over when needed. After missing out in the last match, she made amends today, leading from the front as a true captain.”

Speaking on Amul Cricket Live on JioHotstar, Mithali Raj highlighted the significance of Danni Wyatt-Hodge’s 42-run innings: “She was a bit tentative at the start, but once she got a few runs, she settled in. The way she lifted her bat and accumulated runs showed her class. As the innings progressed, she played with more conviction, adjusting to every move and variation from the opposition. She steadily grew in confidence, making full use of every opportunity presented to her.”

Speaking on Amul Cricket Live on JioHotstar, Stacy-Ann King analyzed Delhi Capitals’ performance and where they fell short: “I think they couldn’t post the total they aimed for, primarily due to losing wickets at crucial junctures. While they had a few big overs, they weren’t able to maximize their scoring opportunities. The loss of key wickets at critical moments hindered their momentum, affecting both their run rate and their ability to build strong partnerships. Moving forward, they will need to focus on constructing solid partnerships to achieve better results.”

Hyderabad 19th February 2025: CREDAI Hyderabad, in collaboration with CRE Matrix, presents an in-depth zone-wise analysis of the city’s office and housing markets, highlighting key trends, demand patterns, and future growth potential. The Hyderabad Office Market Report – Q4 CY’24 and Hyderabad Housing Market Report – Q4 CY’24 unveil a comprehensive analysis of the city’s real estate landscape.

The hosing report unveils comprehensive trends for the North West, North East, South West and South East of Hyderabad. Hyderabad North West emerged as the dominant market, contributing 64% of total sales value, with transactions amounting to ₹19,826 Cr. Additionally, Hyderabad South West continued to lead in pricing, recording the highest per square foot value at ₹11,277 in Q4 CY’24, showcasing strong demand for premium residential spaces.

These in-depth reports offer valuable insights into the evolving dynamics of the office and residential markets, underscoring Hyderabad’s strong growth potential and resilience in a rapidly changing environment and investor confidence. With a surge in co-working demand, declining office vacancy rates, and strong housing sales momentum, the reports highlight key market trends shaping the city’s future.

Speaking about residential real estate trends Mr. V. Rajashekar Reddy, President, CREDAI Hyderabad, said “Hyderabad’s housing market reflects strong buyer confidence, with a 17% increase in average ticket size and a 14% improvement in inventory absorption. Premium housing demand remains high, with Hyderabad North West and South West emerging as key micro-markets. As the city continues its rapid development, CREDAI Hyderabad is committed to ensuring sustainable and transparent growth in the real estate sector.”

Adding about Commercial real estate Mr. Reddy said “Hyderabad’s commercial real estate market remains on a strong growth trajectory, with 2.2x increase in large office transactions, a 26% surge in co-working demand, and a 1.5% reduction in Grade A/A+ vacancy rates. Moreover, the strong 1.1x demand-to-supply ratio further reinforces the positive market sentiment. These indicators showcase the city’s strength as a thriving business hub. With a business-friendly ecosystem, proactive governance and strong occupier confidence, Hyderabad continues to attract large-scale investments, reinforcing its position as a premier destination for global enterprises.”

N. Jaideep Reddy, President-elect, CREDAI Hyderabad, said Residential: “Hyderabad continues to establish itself as a leading real estate hub, with strong demand for premium housing and sustained growth across key markets. The city’s expanding infrastructure and employment opportunities further enhance its appeal, making it a preferred destination for homebuyers and investors. Moreover, Hyderabad’s office market is experiencing significant expansion, driven by strong occupier confidence and increasing demand across key business districts. The city’s strategic development and investor-friendly policies are shaping it into a thriving corporate destination, ensuring long-term momentum in commercial real estate.”

Jagannath Rao Bandari, General Secretary, CREDAI Hyderabad, said “Hyderabad’s real estate market continues to attract strong investor and homebuyer interest. With 16,644 units sold in Q4 CY’24 and the new launches at 11,081 units, the sector remains vibrant and adaptive to evolving market needs. The continued demand for high-quality residential spaces, combined with strong infrastructure growth, is shaping the city’s dynamic housing landscape.”

Adding about Commercial Real Estate Mr. Rao said: “Hyderabad’s commercial real estate sector is undergoing rapid expansion, with total Grade A office stock reaching 151.1 million sqft and 82.9 million sqft under construction. The city’s strong leasing momentum, supported by increasing demand for office spaces, reinforces its attractiveness for global enterprises. Sustained economic activity and infrastructure enhancements will continue to drive commercial real estate growth, solidifying Hyderabad as a powerhouse for business and investment.”

19th February 2025, Mumbai: FinX has signed an MoU with KBP Modern College (Mumbai University, NAAC A++) to introduce a B.Com program in Capital Markets, marking a significant step towards bridging the BFSI talent gap. With over 50% of graduates deemed unemployable due to a lack of practical exposure (India Skills Report), the industry is in urgent need of job-ready professionals. Through this collaboration, FinX is bringing real-world training, expert mentorship, and industry exposure into mainstream education, ensuring that students are well-prepared for careers in investment banking, wealth management, and financial markets.

Speaking about the initiative, Himanshu Vyapak, CEO of FinX, highlighted the need for industry-aligned education. “The BFSI sector needs professionals who can hit the ground running. Traditional courses tend to focus heavily on theory, but what the industry truly requires is hands-on learning, market simulations, and direct interaction with financial experts. This MoU is a step towards ensuring that students graduate with the practical skills and industry experience needed to thrive.”

The program has been designed with employability at its core, blending technical knowledge with real-world applications, including market simulations, industry-led mentorship, and internship opportunities.

By integrating financial education with practical experience, FinX and KBP Modern College are not only strengthening India’s capital markets but also shaping a highly skilled workforce to support the country’s fast-growing £10 trillion economy.

Mumbai, February 19th, 2025: The University of Southampton is delighted to announce the appointment of Professor Eloise Phillips as Academic Provost for the new Delhi campus.

Prof Phillips will take up her post in May ahead of the campus welcoming its first students in August.

She played an important role in establishing the University of Birmingham’s flagship campus in Dubai where she is currently Head of Health, Wellbeing, and Human Science programmes. Previous to this, Eloise was an Associate Dean at Aston University.

Prof Phillips is a registered nurse and highly experienced advanced clinical practitioner. Across her career, she has worked globally in clinical practice, healthcare leadership and management, research, and academia.

The University of Southampton Delhi will become India’s first global top 100 university when the campus in Gurugram opens to provide high-quality education rooted in research excellence, innovation, and real-world opportunities for Indian students.

Prof Phillips said: “I was drawn to the University of Southampton for its mission to impact and transform students’ lives and the region, which aligns with my professional values and passion.

“I am honored to accept the role of Academic Provost and Associate Vice-President (International) at the University of Southampton Delhi and look forward to leading our international campus towards excellence in education, research, and knowledge exchange.

“India’s dynamic education landscape offers a unique opportunity to shape the future of higher education where I am committed to fostering an inclusive and innovative environment for students and staff.”

Professor Andrew Atherton, Vice President of International and Engagement at the University of Southampton, added: “We are thrilled to announce the appointment of Eloise Phillips as Academic Provost of the University’s Delhi campus.

“Eloise joins us from the University of Birmingham Dubai campus and so has extensive experience of international campus development.

“We are looking forward to her leadership of the campus at this very exciting point in the development of the University, and in particular the launch of our Delhi campus in 2025.”

Noida, 19th February 2024: The Open Men’s Volleyball Tournament was inaugurated in grand passion and fervor at the Institute of Management Studies (IMS) Noida Football Ground. Day one of the tournament was a spine-chilling display of sportsmanship, friendly rivalry, and competitiveness. All the teams participating put their best foot on the ground, and the match started to a dynamic and thrumming beginning.

IMS Noida was privileged to have Mr. Rohit Rana, a celebrity volleyball player, as the Chief Guest for the tournament. His motivational speech inspired players and spectators alike to their very hearts. Mr. Rana’s presence raised the bar for the event, upholding the tradition of sportsmanship and excellence in the sport of volleyball.

Apart from this, Prof. (Dr.) Vikash Dhawan, Director General, Iof MS Noida, and Mr. Chiraag Gupta, Vice President, of IMS Noida, also attended the event. They were the key motivational forces behind holding the tournament through their words of guidance and encouragement. The encouragement and guidance offered by them also encouraged the participants further, and the competitive spirit grew.

The long-awaited opening ceremony of the event began at 10:15 AM with a warm welcome of all the guests. Mr. Rohit Rana was also specially honored for his contribution to the sport. This was then followed by the Oath Ceremony where all the players took an oath of their commitment towards fair play and sportsmanship. A Cultural Program featuring vibrant performances created a lively atmosphere for the day. The official Opening Ceremony heralded the start of an exciting tournament.

“As someone who is a strong believer in youth activity and sports, it is great to see such enthusiasm and competitive spirit among the players. This tournament offers a great opportunity to nurture and develop the next generation of volleyball players,” said Prof. (Dr.) Vikash Dhawan, Director General of IMS Noida.

“Today’s competition is as much about victory as it is about inculcating values of teamwork, discipline, and enthusiasm for the sport in the participants. The calibre we see today is the best and I would wish to see some cliff-hanging experiences in the days to come,” said Mr. Chiraag Gupta, Vice President, IMS Noida.

As the matches opened, the pitch was ablaze. The two teams showed exquisite skill, passion, and unity, and they left the crowd dumbfounded by what they showed. The deafening crowds’ applause heightened the suspense, and Day 1 was a sportsmanlike achievement of passion.

With such a start fueled by adrenaline, the tournament will see more dramatic encounters and thrill in the days ahead. The fans are requested to keep cheering as the fight for the win continues.

By Neeraj R. Kochhar, Chairman of Viraj Profile PVT LTD

Stainless steel manufacturing is the backbone of industrial development, catering to the growing demands of infrastructure, automotive, and numerous other sectors. India, being one of the largest producers of stainless steel globally, generates millions of tonnes of stainless steel annually. Alongside this production, however, comes a significant amount of by-products. Traditionally viewed as waste, these materials now represent untapped opportunities for sustainability, economic value, and resource conservation. With India’s push towards circular economies and sustainable practices, it’s time to explore how these by-products can be effectively utilized.

Understanding Stainless Steel By-products
Stainless steel manufacturing generates a range of by-products, including steel scrap, slag, mill scale, and dust. These materials, often considered liabilities in the past, are now emerging as valuable resources due to technological advancements and a stronger focus on sustainability.

•  Steel Scrap: This is one of the most vital by-products and serves as a key resource for recycling. Using scrap steel not only reduces the need for virgin raw materials but also cuts down carbon emissions significantly.
•  Slag: Generated during the smelting process, slag is rich in calcium and silicon. It has proven applications in infrastructure projects as a component in cement, road aggregates, and even as a soil conditioner in agriculture.
•  Mill Scale: A by-product of the hot rolling process, mill scale is used as a raw material in sintering plants or in the production of ferroalloys.
•  Steel Dust: Though often classified as hazardous, steel dust can be treated to extract valuable metals such as zinc and iron through advanced technologies like plasma smelting.

Circular Economy in Action
Leading Indian stainless steel manufacturers, such as Viraj Profiles, are setting examples in sustainable practices. More than 90% of the raw materials used by Viraj Profiles are derived from recycled steel scrap, showcasing how industries can embrace circularity. Additionally, by-products from the production process are reintegrated into manufacturing, creating a closed-loop system that minimizes waste.

This circular approach not only reduces environmental impacts but also enhances operational efficiency. Such practices align with India’s broader goals of promoting green industries and reducing reliance on finite natural resources.

Applications Beyond Manufacturing
The potential of stainless steel by-products extends beyond the industry itself:

1.  Road Construction: Steel slag, with its durability and strength, is being increasingly used in road-building projects. It improves the quality of infrastructure while reducing the demand for conventional aggregates.
2.  Wastewater Treatment: Slag’s filtering properties make it an excellent medium for wastewater treatment, addressing India’s growing need for clean water solutions.
3.  Fertilizer Production: Certain types of slag have been found effective as soil conditioners, contributing to sustainable agriculture.
4.  Metal Recovery: Advanced technologies are enabling the recovery of valuable metals from steel dust, which can be reused in production processes, ensuring no material is wasted.

The Need for Innovation and Collaboration
Despite these advancements, challenges remain. Not all by-products can be reused immediately, and processing them often requires significant resources. Tackling these issues demands a collective effort:

•  Technological Advancements: Innovations in processing techniques can make the reuse of by-products more efficient and economically viable.
•  Industry Collaboration: Partnerships between the steel industry and other sectors, such as construction, agriculture, and manufacturing, can open new avenues for utilizing by-products.
•  Government Support: Policy frameworks that incentivize investments in recycling technologies and mandate the use of by-products in specific industries can accelerate progress.

India’s Path to Zero Waste
The Indian stainless steel industry is poised to lead the charge toward a zero-waste future. Companies like Viraj Profiles exemplify what’s possible when sustainability is prioritized. With supportive policies, innovative technologies, and cross-industry collaboration, the vision of a circular economy can become a reality.

By leveraging the full potential of by-products, the stainless steel sector can balance growth with environmental responsibility, paving the way for a greener, more sustainable industrial landscape in India. The journey may be challenging, but the rewards—both economic and ecological—are undeniably worth the effort.