All posts by Rabindra

7th February 2023, New Delhi:

IOL Chemicals and Pharmaceuticals Limited, a leading manufacturer of pharmaceutical (APIs) and specialty chemicals reported results for the 3rd quarter and nine months ended 31st December 2023 as highlighted herein below:

Operational highlights

• Granted a patent for “an improved safe process for the preparation of Sartan drugs of Formula I” by Indian Patent Office
• Recently received EUGMP Certification from National Institute of Pharmacy and Nutrition, Hungary, which will help the Company in more penetration in European market for its products.

Commenting on the quarterly performance, Dr Sanjay Chaturvedi, Executive Director & CEO said, “The quarterly performance reflects our commitment to control our costs and improve our margin trajectory. For the third quarter, EBITDA and Net Profit margins – both have improved sequentially. Apart from cost rationalisation, we have completed our capacity enhancement of Paracetamol by 1,800 MTPA to take total capacity to 3,600 MTPA with Backward integration of Para Amino Phenol (PAP) and we expect this capacity enhancement to boost volume growth from next quarter onwards.”

About IOL Chemicals and Pharmaceuticals Limited (IOLCP)

Company was established in 1986, listed on National Stock Exchange of India Ltd (Code: IOLCP) and BSE Ltd (Code: 524164) is one of the leading pharmaceutical (APIs) Company and is significant player in the specialty chemicals space with world class facilities. IOLCP has wide presence across major therapeutic categories like, Pain Management, anti-convulsants, antidiabetes, anti- cholesterol and anti-platelets.

The Company’s product portfolio includes APIs; Ibuprofen, Metformin, Fenofibrate, Clopidogrel, Lamotrigine, Pantoprazole, Paracetamol and specialty chemicals such as Ethyl Acetate, Iso Butyl Benzene, Mono Chloro Acetic Acid and Acetyl Chloride.

Company is World’s largest producer of the Ibuprofen with an installed capacity of 12,000 TPA and having backward integrated manufacturing facility. The Company has DSIR approved R&D which is fully equipped to validate existing processes.

The Central and State Government approved Effluent Treatment Plant (ETP) had been set up with Zero Liquid Discharge (ZLD) system along with 17 MW captive Co-Generation plant for self -reliance. The Company is ISO 9001:2015, 14001:2015 and BS OHSAS 18001:2007 certified.

IOLCP’s overseas customers are spread out across several countries including UK, Belgium, Hungry, Spain, Germany, Italy, Netherlands, Switzerland, Poland, Ireland, USA, Peru, Brazil, Argentina, Colombia, Indonesia, South Korea, Thailand, Bangladesh, Turkey, U.A.E., China, Hong Kong, Egypt etc. Products are sold primarily to Branded Generic formulators both in India & Overseas.

7th February, 2023: Make this Valentine’s special with a quick getaway to Goa’s Divar Island for two days of fun and fashion. The Island of Love is a one-of-its-kind pop destination for the ninth edition of the India Beach Fashion Week (IBFW) which flags off at Mercure, the Goa Devaaya resort, on February 13. Presented by Ikonic and powered by Timex, it is India’s first Island Week & Fashion Festival.

IBFW is Asia’s largest and one of its most prominent calendar events. “We target young and bold fashion enthusiasts and entrepreneurs, designers, content creators and artists, fresh graduates and early innovators. Their vision and outlook, design aesthetics and technology can help build India’s biggest creative ecosystem with consumers and brand custodians who stand up for green space energy and a circular usage economy,” says co-founder Pallav Ojha.

“Ikonic is elated to be joining hands with India Beach Fashion Week. As title sponsors, we look forward to being part of this vibrant event about all things fashion,” asserts Rayed Merchant, co-founder, Ikonic Professional.

Timing it right
Deepak Chhabra, Managing Director, Timex Group India, states, “Watches are no more just time telling devices, but a fashion accessory and a statement piece which completes your look. We at Timex understand the ever-evolving futuristic fashion industry and applaud the disruptive fashion trends. And IBFW provides the perfect platform for this bold community. We are super excited to be a part of the IBFW. It will be a great place for us to empower the young and brave new designers of this era, staying abreast with the latest innovation, creative outlook and technologies in the fashion world.”

With Goa Devaaya Mercure Resort, Divar, as its ‘Hospitality’ partner and GATSBY as its ‘Men’s Grooming’ partner, IBFW opens at 3 pm on the eve of Valentine’s Day.

At 5 pm, there is a meet and greet session with all the guests. The sunset session is on the riverfront. The open-air press conference followed by live music and cocktails.

At 8.30 pm, Vikram Phadnis makes his debut in resort wear. His curtain-raiser show is set in the lap of nature, in the Tropical Garden.

India’s largest creative ecosystem
An upbeat Puneet Motiani, Designated Partner, Gardenia Cosmotrade LLP (GATSBY), avers, “We are thrilled to partner as the ‘Men’s Grooming Partner’ at the India Beach Fashion Week (IBFW) Showcase 2023 that is tailor-made for GenZ. We’re quite kicked about the association and even more kicked about the similar vision we share of creating a niche in style and fashion. GATSBY and IBFW both believe in the ‘Power of Young’ and we’re excited to make a splash at India’s largest creative eco-system in Goa.”
The 18th-century island with its lush tropical forests, a vast expanse of emerald green paddy fields and meticulously restored colonial-style Portuguese villas is a picture-perfect setting for IBFW. Open-air ramps, including India’s longest ramp and the first one facing the sea, makes it a one-of-its-kind fashion festival. There are designated festival areas and brand engagement booths, makeover zones and experience zones with 15 by 15 store installations and villa blocks within the man show area and even an after-party conclave zone. Pop-up companies will also be setting up a flea market which should be another crowd-puller.

The resort itself has a gym, spa, beauty parlor, and the Malar restaurant, besides the mandatory swimming pool, coveted Maharaja Suite and a personal jetty with yacht park space.

Day One wraps up with Eliferous, a collaborative show presented by Timex. The designer, Srishti Kaur, was also Miss Teen Universe.

Valentine vogue
Valentine’s Day, February 14 flags off with the ‘Future of Fashion Conclave – Meet The Leaders’ at noon. Featuring the managing directors of the festival’s title sponsors. Timex, Ikonic and Samsonite, IBFW co-founder Pallav Ojha and Sasha Revanker, the founder of One Minute Sarees, the hour-long session will be moderated by Jitin Hingorani from Los Angeles.

Our vibrant, colourful, and trendy bags are tailored to ensure that it is also of the highest quality and in vogue. What better time to join forces with India Beach Fashion Week, where the industry’s leading designers and models gather to honour the evolution of the design,” says an exuberant Pradnya Somesh Popade, Head of Marketing & Communications, Samsonite, the ‘Travel’ partner.

The ‘Business Outreach’ partner is COMO Designers Collective and the ‘Event’ partners Goa Design Project, Johnny Walker Blonde, Dive Resort Collective, Mercure Hotel, Goa Devyaa Resort, The Fashion Design Council of Rajasthan (FDCR), Frizzano Sparkling Wine and PE3R, In the Spirit of Mixing, The ‘Media and Outreach’ partners are Media Solutions, Creative Joule, Drool Mnky, Trive Studios and Dive Resort Collective.

Royal Musical experience
The ‘Experience’ partner is the Royal Falcon Music Production which opens the festival on Day 2 with a live stage on the Green Lawns at 2 pm. “Royal Falcon is a Dubai-based music label that brings the world together with the fusion of international musicians and world music,” attests electrified filmmaker Aziz Zee.

This royal musical experience will be followed by fashion shows from a bunch of young designers, starting with Isha Khanna and Ken Ferns to Moonshine by Swapnila and Meeami Fashion by Amit Bharadwaj at the colonial villas. All shows are in the open air, beautifully integrated with the island’s tropical setting. Also scheduled are shows of Anuthhi by Nishant and Preeti, RipciBhatiya, Solo and FDCR. The collaboration with FDCR, highlights the Rajasthani cultural ecosystem.

Past perfect
IBFW has showcased ace designers in earlier editions, including Wendell Rodricks, Pallavi Jaikishan, Suneet Varma, Falguni & Shane Peacock and Varun Bahl. Other prominent names that come to mind are James Ferreira, Rocky Star, Pria Kataria Puri, Arjun Khanna, Rina Dhaka and Saisha Shinde to name a few. Among the showstoppers and brand influencers were Sushmita Sen, Bipasha Basu, Kiara Advani, Lisa Haydon, Kriti Sanon, Sunny Leone, Aditi Rao Hydari and Rana Daggubati. It has launched over 200 fresh designers and exhibitors over the years. It has the distinction of being acknowledged as Asia’s largest platform to showcase young talent and revolutionary trends

Fashion revolution with sarees
This year, the only Indian-American brand on the 2023 runway is the Los Angeles-based One Minute Saree. A direct-to-consumer online saree brand, it will unveil its eclectic collection on a fashion ramp for the first time at IBFW. It is a homecoming for founder Sasha Revankarwho is originally from Goa. Rooted in tradition but crafted for the modern woman, these custom-stitched sarees have sparked a fashion revolution for the next generation of Indophiles, helping them drape the fabric immaculately in under a minute.

Trauma to trends
Sasha admits that after being a little bit traumatized from the experience of wearing a saree to a wedding while handling two little kids in 2018, she had basically given up on the idea of ever putting one on again. “Even though I spent an hour perfecting my drape, the saree repeatedly came loose throughout the evening,” she confides. She admits it was a bit disheartening because she loves the concept of a saree for the tradition and elegance it represents. “But it was just too complicated, especially for someone living in the States. Where would I even go to buy a petticoat!” she exclaims. Sasha found an answer to her saree woes in the One Minute Sari. It maintains the flow and drape of the garment while staying true to the authenticity of the traditional Nivi Sarees, the Gujarati sarees and the Kanjivaram sarees, with inclusive sizes for all body types, from extra small to extra-large.

Avant-garde game-changer
Explaining why IBFW chose to include the line in their destination-wedding-themed fashion show, co-founder Neha Asthana Ojha reasoned, “We have always believed in the power of the young and the bold and have created a niche in the fashion segment since 2015. One Minute Saree is exactly the kind of avant-garde game-changer that will excite fashionistas and claim its rightful space in the millennial market.” The brand will present 14 looks on the runway. On the same day, Prashant Majumdar and House of Nivii by Pankhnivi will helm the COMO Collective. The sundowner will be followed by another riverfront show at 9.30 pm with Gavin Miguel bringing the curtains down. The grand finale, presented by Ikonic, will be followed by an afterparty.

Hair-raising adventure
One of the highlights of IBFW is a funky hair show presented by Ikonic. “When it comes to fashion, it is a term that goes hand in hand with hair. A great hairstyle always adds that finishing touch of panache to any person’s fashion sense,” points out Ikonic Professional co-founder Rayed Merchant. He elaborates, “Hairdos can not only elevate your persona, they can also spark stylistic confidence inside you. At Ikonic, we firmly believe that hair is to fashion, what creativity is to art. The two are inseparable.”

Going beyond fashion
Run as both a business-to-business and a business-to-customer event, the India Beach Fashion Week brings together designers and brands, creatives and exhibitors in the beach, resort, and travel destination wear categories. Over two days, they will showcase their latest collections and network to increase brand awareness amongst the general public.However, what sets it apart is that IBFW is designed to go beyond fashion. It promotes Goa as a travel destination, building a large-scale platform for lifestyle tourism around it.

Tropical Eden along the Mandovi river
The idyllic Divar Island, separate from the mainland, is an enticing getaway as the Island of Love is still largely unexplored. A tropical Eden tucked away along the Mandovi river, it is blissfully quiet and very 8th-century in the meticulously-restored Portuguese villas with their colonial-style architecture and old-world feel. Divar is home to three scenic villages. Piedade sits at the bottom of a hillock on whose crest is the picturesque Church of Our Lady of Compassion. The second, Malar, was earlier called Sao Matias by its Portuguese residents. The third village, Naroa, was once a popular pilgrimage site, but today has a population of barely a thousand and just about 80 homes. And while the island gives the impression of being cut off, it is just a 15 to 30-minute ferry ride from Old Goa, Naroa and Ribander.
So, Go, Goa, Gone, what are you waiting for? The countdown has begun. Just six days more to go!
Media registrations are open onwww.ibfwgoa.com

Bangalore, 7th February 2023: Sony Artisan and Profoto Mentor, photographer Amrita Samant’s Motherhood and Childhood Photography studio – Mommy Shots by Amrita celebrated their first-anniversary last evening. With two studios in India – in Chennai and Bangalore, and a presence in India and Singapore, Amrita is providing new parents and children with a treasure trove of memories frozen in time for posterity. Mommy Shots by Amrita celebrated their first anniversary at Mommy Shots by Amrita Studio in Bangalore in the presence of happy customers, friends, family and actress, influencer, and mother, Sameera Reddy.

The acclaimed photographer has to her name over 20 international awards in the category of motherhood & childhood photography. Amrita is also credited with popularising the concept of Maternity & Newborn portraiture at a time when the subject was a deeply-rooted taboo across the country. Since 2013, she’s been a pioneer in the space and often finds herself ahead of the industry in creating ground-breaking imagery in this niche to bring out the human element and the real bond between the parent and the child. The acclaimed, award-winning photographer is sought-after internationally and has travelled to over 10 countries for shoots in the last few years.

Beyond her entrepreneurial nature, Amrita feels very strongly about giving back to society and making an impact, using the means of photography. Be it the latest campaign on acid-attack victims (mothers) to supporting children with autism, she has generously taken the time and effort to better the lives of children and women across the country. Amrita has been instrumental in raising awareness and connecting over 200 NICU babies with their breastmilk donors. She has also supported education through her app and has helped women become independent by teaching them the art of photography.

In addition to completing a record-breaking number of shoots in a short span of time, Amrita is in the process of opening two more studios – in Mumbai and Hyderabad later this year.

For more details, please visit: www.mommyshotsbyamrita.com

Bangalore/Mumbai, 7 Feb 2023 – Fraud management has become a massive headache for banks and fintechs worldwide. As digital payments become more popular, projected to grow 12%, reaching US$ 14.8 trillion by 2027, payment frauds are also expected to rise.

India follows the international trend. UPI transactions increased by 91% last year. Meanwhile, complaints on the NCRP rose by 34% between Q1 and Q2, 2022.

Pismo, all-in-one, cloud-native financial services platform, has worked with Drona Pay, cloud-native risk-scoring platform for next-gen lending and payments, to integrate both solutions. Both collaborate to increase real-time protection against fraud, scams and laundering in payments and lending.

“With fraudsters becoming more sophisticated, ML and proprietary data sets from Drona Pay are a perfect fit for Pismo’s next-gen platform. When integrated, banks and fintechs can speed up their go-to-market strategies, knowing that their digital transactions are highly secured,” says Vishal Dalal, CEO (North America, EMEA, and APAC) at Pismo.

Founded in 2021, Drona Pay delivers real-time protection using ML and alternate data sets to defend institutions against ever-increasing fraud in payments and lending. The platform protects BNPL, Realtime payments (UPI, App, Wallet etc.), credit and debit card transactions from frauds, scams, laundering and delinquency. The company has received investments from Varanium Capital, Credit Saison and fintech veterans Kunal Shah, Jitendra Gupta, and Amrish Rau.

“New age risk scoring platforms need to be cloud-native, leverage alternate dataand adopt ML to help banks and fintechs solve emerging challenges. Reducing delinquency in new-to-credit (NtC)/thin files, managing risk in new merchant categories, preventing laundering and minimising phishing attacks in real-time payments, are the new-age challenges that Drona Pay is tuned to handle. Our strategic partnership will help customers leverage Pismo’s breadth and global presence with Drona Pay’s niche skills in risk scoring,” adds Satish Kashyap, CEO Co-Founder at Drona Pay.

Founded in 2016 in Brazil, Pismo raised US$ 108 million in 2021 in a series B round led by Softbank, Amazon and Accel. Pismo provides next-generation technology to help banks, fintechs, and non-financial institutions offer best-in-class financial products for their global customers. It has global operations with offices in São Paulo (Brazil), Bristol (UK), Austin (USA), Singapore, and Bangalore (India). With more than 450 employees, Pismo manages 69 million accounts, processing US$ 195 billion in annual transactions.

Mumbai, 07 February 2023: Clix Capital Services Pvt Ltd (‘Clix Capital’) – one of India’s leading non-banking financial services companies, under a new leadership has made huge strides in turning around its business this year. Challenged by COVID and the associated lock-downs, several NBFCs and lending institutions struggled to manage growth and asset quality, and Clix was no different. However, over the past 18 months, it has turned profitable owing to its sharp focus on key businesses driving India’s growth trajectory, such as MSMEs, Healthcare and School Financing. With this pivot towards sustainable growth, Clix is eyeing a profit of INR 100 crore in FY24.

The post-pandemic period saw massive pent-up demand amongst sectors severely impacted due to COVID-19 and the subsequent lockdowns, such as travel & tourism, education, healthcare and automobiles. Clix Capital diligently utilized the COVID-induced disruption as an opportunity to reassess its business strategy as well as digitalize its core-operating model at scale.

This singular focus played an instrumental role in helping the brand evolve as a dedicated digital MSME lender. Backed by deep domain expertise in Healthcare and School Financing and its ability to forge seamless partnerships with fintech partners who bring in specific capabilities, Clix is now positioned strongly to ride the growth wave. Aided by a young, agile and resilient leadership team under its new CEO, Rakesh Kaul, Clix is receiving huge recognition for the pace at which it has bounced back to scale and sustainable profitability.

Clix Capital is poised to cross an AUM (Assets under Management) of INR5000 crore by the end of this fiscal and aims to surpass INR 9000 crore by FY25. By servicing consumers and MSMEs, Clix has loaned more than INR 18,000 crore to date. Most of the company’s disbursements have gone to underserved MSMEs who have received a lion’s share of these funds. Clix is committed to addressing the huge credit gap hindering the growth of MSMEs through products customised for their needs and enabling credit by leveraging technology and alternate data in assessing them.

Mr Anil Chawla, Founder, Clix Capital commented, “Ever since our inception, we have been redefining the lending space in India by creating products and services that meet the financial needs of customers. We are driven by the vision of enabling financial inclusion for all underserved segments. Under the exemplary leadership of our new CEO, Rakesh Kaul, and a resilient young leadership team, the company has carved its niche in focused business segments in line with India’s growth trajectory in the MSME, Healthcare and Education space. Providing credit for the growth of these segments is imperative if India is to realise its ambition of becoming a US$5 trillion economy by 2025.”

A sustained focus on MSMEs in the healthcare and education space has helped the lender witness a 4X volume growth in the past 12 months. The core retail AUM growth was 1.4X, supported by a strong growth of 1.8X in debt raising.

On its ambitious turn-around target for the year, Mr Rakesh Kaul, CEO, Clix Capital noted, “Today, Clix is powering ahead in its chosen segments, backed by unparalleled technology and strong distribution capabilities. While we will continue investing in digitalization with an emphasis on agility and automation, moving ahead we would also be focusing on developing a strong co-lending ecosystem to supplement the debt raise needed to fund our growth ambitions.”

From 5% in March 2022, the company’s GNPAs stood at less than 3% in October, with a target of closing this financial year at around 2%. It has also drastically increased its collection efficiency, which is now better than the pre-pandemic levels – rising from 88% collection efficiency in September 2021 to 96% in September 2022.

Mr Utsav Baijal, Partner & Head of India Private Equity at Apollo and the largest investor at Clix Capital said, “Clix Capital has benefited greatly under the new leadership team led by Rakesh, and they have helped create a performance-oriented culture and brought an intense focus on execution. Given the company’s strong capital base, it was able to absorb COVID-induced portfolio losses smoothly and is well positioned to fully pivot back to profitable expansion. More importantly, we believe that this turnaround is sustainable and we have a path to double digit ROE as we scale this business further.”

Technology has been a key enabler in the growth of fintechs in India, thanks to the digital revolution happening by building virtual highways and the India stack infrastructure. As technology continues to obliterate barriers, Clix has been leveraging it to create cutting-edge solutions for customers and build a new-age NBFC promoting financial inclusion. Technology has been Clix’s biggest capital expenditure since its inception. One of the company’s greatest strengths is its ability to apply data analytics across risk, underwriting, collections and client growth. It has also made major investments in ML (machine learning) engines to keep refining tech capabilities, which has resulted in optimizing risk-reward decisions. The platform today is extremely agile and, like a Lego box, it can plug and play to stitch new partnerships and operate seamlessly in an ever-changing regulatory landscape.

New Delhi: Lateworks of Akbar Padamsee, an Iconic exhibition showcasing the recent most 19 paintings of Padma Bhushan Awardee Late Akbar Padamsee. “Human head, the human body & landscapes, with an occasional foray in to still-life”, Late Akbar Padamsee’s work on display. Padma Bhushan awardee, Late Akbar Padamsee’s 19 drawings are being showcased in Delhi. ‘Thinkers Artist’, Late Akbar Padamsee’s art work put on display. Bhanu Padamsee, Wife of Akbar Padamsee Organisng this exhibition. The exhibition is being held at the Triveni Kala Sangam, 205, Tansen Marg, Mandi House Delhi. The exhibition kicked off on 5th Feb and will go on till 18th Feb and is open for public viewing between 11:00 AM to 8:00 PM. 19 of his drawings are showcased which were made by him 2013-2017.

Late Akbar Padamsee, considered as one of the pioneers in modern India painting. In the ‘70s, he had been alternating between the luminous metascapes, his signature works and the human figure which he imbues with an arresting presence. Till the moment of his demise on 6th January 2020, he continued working constantly pushing boundaries.

During his very first solo show at the Jehangir Art Gallery he was embroiled in a controversial court case on charges of a painting called ‘Lovers’ for obscenity. His second show sealed his reputation as one of India’s most formidable artists.

He is still fondly remembered as the ‘thinkers’ artist.’ Over the course of years, he applied several mediums in his art work including oil painting, plastic emulsion etc. Though widely spoken of as a modernist, Akbar Padamsee continued to resist being labeled. He worked as a film maker, sculptor, photographer, engraver & lithographer. He was awarded with the third highest civilian honor-Padma Bhushan along with several other awards including Rockefeller III Fund Fellowship, Jawaharlal Nehru Fellowship, 1969-70, Kalidas Samman from the MP Government, 1997, Lalit Kala Ratna, 2004.

Late Padamsees wife, Bhanumati shared few stories of the times when her husband used to reminisce old times when he was in Delhi, his wonderful friends and his exhibitions at Triveni Kala Sangam. She opened by quoting Padamsee “dream is constant in the region of the heart physically present as a dull ache forms without ache are futile.” The exhibition gives a sneak peek of how an artist thinks and his motivation to draw. Padamsee said “Art for me is to express the invisible”. His paintings included human heads, landscapes, mirror images and several other portraits in pencil and charcoal.

Mumbai, February 07, 2023: In a bid to enable 100,000 MSMEs turn ESG compliant in the next 24 months, Bizongo, a leading vendor digitization platform with embedded financing for brands and enterprises has launched Bizongo environmental, social, and governance (ESG) Scorecard. This will help bolster ESG consciousness among Indian MSMEs and larger enterprises. With this, Bizongo has also become the first B2B marketplace to offer ESG-related intelligence.

Aniket Deb, Co-founder & COO, Bizongo, said “In its essence, ESG is a framework that helps businesses build customer loyalty, attract investors, make operations sustainable, and improve financial performance. In line with this, Bizongo’s ESG Scorecard will enable MSMEs on its platform assess their ESG performance and help them integrate it into their internal policies and practices.”

The scorecard will allow MSMEs to monitor and track their compliance across various ESG components, including social parameters, such as minimum wage policy, Child labor and Forced labor, Harassment and Discrimination, and product quality and testing. It will also focus on environmental parameters, such as the Environment Management System (or ISO 14001, energy management process/policy, policies/processes for optimum, water consumption/ water conservation, circular economy/ recycle/reuse program, management of solid/liquid waste, and GHG emission. On the Governance front, the tool will assess compliance on grievance redressal/whistleblowing, code of conduct, anti-bribery, frauds/malpractice incident, and sub-contractors’ due diligence.

Leveraging Bizongo’s digital vendor management platform, the scorecard will help MSMEs on the platform validate their credibility in following mandatory compliances, especially when applying for Zero Defect Zero Effect (ZED) certification. It will also simplify availing ZED benefits, such as subsidy on cost of tech adoption, reimbursement on acquisition and installation of Plant & Machinery/ Testing equipment, and concessions in Pricing/processing charges by banks, among others.

The MSME sector in India is characterized as resource intensive with 19.4 million MSMEs in the manufacturing industry consuming 25% of the total energy in the industrial sector and generating 110 million tonnes of CO2 equivalent. This consumption is expected to further increase as India continues to boost manufacturing activity.

“India being the incumbent host of the G20 Presidency for 2023, the country would like to pioneer the cause of sustainable development goals during the current term and support climate change protection policies. This makes it even more imperative for the sector to invest in ESG. The Government of India has also been advising MSMEs to observe aggressive green practices and manufacture goods with ‘zero defects’ so that they have a ‘zero effect’ on the environment. In line with this Bizongo has taken a mandate to enable MSMEs to ensure that this transition happens, and this scorecard is a starting point that is available for every MSME to use and adopt,” Aniket added.

Most MSMEs either do not track their ESG compliance or still rely on manual processes to collect internal ESG data on water consumption, workforce demographics, and code of conduct, amongst others. This leads to unorganized storage of data resources across databases in different formats, which delays decision-making and ineffective tracking of ESG preparedness.

“The size of the enterprise, a profit-first mindset, informal nature of operations, and challenges in assessing and selecting sub-vendors/suppliers based on ESG performance are some of the overarching internal challenges preventing ESG adoption. Some of the external factors obstructing the adoption include lack of motivations through more regulatory compliances and absence of push from larger enterprises and customers,” he said

As ESG becomes the core conversation in corporate boardrooms and for the allocation of capital, it is compelling brands and enterprises to improve their sustainability performance. Also, the growing demand for a sustainable supply chain is putting pressure on SME vendors to increase resource productivity, reduce emissions, and improve their ESG score.

“Bizongo’s scorecard will help MSMEs meet the demands of global-level customers by driving more environmentally friendly and inclusive business operations and manufacturing products with the ethos of ESG. Simultaneously, it will also help large enterprises to monitor their ESG profile and expedite decision-making by assessing the compliance levels of suppliers, vendors, and other supply chain partners.” Aniket said. Further, the Securities and Exchange Board of India’s (SEBI) mandate for the top 1,000 listed entities by market capitalization to file business responsibility and sustainability reporting (BRSR) and disclosures from FY 2023 has triggered large corporations to think about ESG as a value preservation measure. Following the implementation of Bizongo’s scorecard, international and domestic enterprises with a large portfolio of third parties will be able to combat new risk levels and improve their sustainability performance as they onboard partners from Bizongo’s large base of ESG-compliant manufacturers and vendors.

Bizongo’s ESG scorecard comes on the heels of a preliminary study conducted by the vendor digitization platform to understand the current scale of adoption of ESG-compliant practices by MSMEs and their intent to implement them. Bizongo has been helping MSMEs scale their business by digitizing supply and procurement and offering tailored solutions that will enable the sector to achieve the Government of India’s vision of an Aatmanirbhar Bharat.

07th Feb. 2023, New Delhi/Noida/Lucknow, India

Just two days ahead of Uttar Pradesh (U.P.) Global Investors Summit 2023, today U.P. Govt. signs an MoU with Innogress for setting up India’s first Quantum Computing Data Center, ‘IQDC’ (Indraprastha Quantum Data Center), at Greater Noida, U.P. proposed in JV with GAN Tech. UK.

Recently U.P. attracted many Data Center projects, particularly in Noida/Greater Noida area, but this is the first time a new data center is proposed on innovative Quantum Computing Technology. So far, all data centers in India are based on classical computing technologies, which (classical computing) having own technological and performance-related limitations. Data Centers based on classical computing shall have huge energy and space requirements, and at the same time have huge information security risks due to recent Quantum Computer-based algorithms discovered by Chines scientists which is believed to be good enough to break RSA-based data encryption, hence leaving the present day classical data centers vulnerable to Quantum Computer-based security attacks.

Commenting on a recent proposal sent to the state Govt. of U.P. under U.P. GIS2023 for setting up India’s first Quantum Computing Data Center at Gr. Noida, Founding Partner of Innogress Mr. Sumant Parimal, said “Present Data Centers likely to hit redundancy in the future due to performance/speed, energy, space, and data security concerns, as the whole computing and data storage architecture is based on classical computing which is bits (0,1) based built on semiconductor chips. However, Quantum Computers built on quantum chips perform computation and storage of information using Qubits, which are much faster in speed and store a higher volume of data on the same chip size and require lesser energy for performing computing. Quantum Computing technology is recent innovation and fast evolving and having capabilities to sustain future A.I. (Artificial Intelligence) applications and emerging Apps. higher computing resource requirements”.

“Keeping this latest Tech. innovations in mind, we at Innogress in collaborating with our UK Partner GAN Tech. UK Ltd. and prospective investors, proposing to set up India’s first Quantum Computing Data Center, Indraprastha Quantum Data Center, at Gr. Noida U.P. under the framework of incentives launched by U.P. Govt. during ongoing U.P. Global Investors Summit2023 progg. We are aligning our proposed Quantum Tech. Data Center Project ‘IQDC’ with the vision of Hon’ble CM of U.P. and Hon’ble PM of India for developing U.P. and India as innovative Technologies hub. Our proposed data center is going to be quantum-safe and going to enable high-performance computing requirements of New India” Sumant Parimal said.

AlUla, February 2023: Cloud7 Residence AlUla, the lodge-style resort with 150 modern bungalows is the region’s newest lifestyle hotel/residence from where travellers and adventurers will be able to enjoy a variety of cultural events, the world’s largest outdoor museum, heritage sites, art exhibitions, sport events, concerts, and adventure sites. For remote workers and business visitors, Cloud 7 offers a stay that facilitates your independence with all conveniences required, and the team works hard to curate human connections through inviting and connecting the local vibrant community of artisans, artists, talent, adventure guides and hospitable families with Cloud 7 guests.

Cloud7 Residence AlUla is a unique destination offering locals and guests a community-driven and connected stay revolving around unique experiences tailored to each and every taste for adventure. The essence of the space is to create ongoing local, regional and national collaborations with artists, entrepreneurs, food-preneurs, yoga and outdoor gym instructors and any other talented, creative, passionate individuals to enhance the humanization of the Cloud7 neighbourhood.

The Community and Culture Manager in charge of the events’ programming – a native from AlUla himself – primes the activities at the property that are a combination of live local traditional Kanoon and Oud music, as well as Jazz and live DJ gigs on weekends. Additionally, the authentic local experience is enriched by a collaboration with a home-grown food and beverage concept that will serve AlUla’s most cherished cuisine – hearty breakfast with dates and flat breads, savoury shakshooka and charcoal barbecue dinners by the pool side. Serving Saudi coffee, which is considered a social phenomenon in the Kingdom, is a central part of the welcome ritual at the welcome Beduin tent. Here, the ritual involves an educational element about the traditions and rich heritage. Guest at Cloud7 can also enjoy a homecooked meal prepared in the bungalows fully-equipped kitchenette, cosy up in the spacious living-room which extends into an outdoor private terrace, surrounded by mini herb gardens, making it the ideal location for a holiday, workcation or to move in for a while.

Cloud7 Residence AlUla is quickly becoming the home for those planning to stroll through majestic rock formations, canyons and cliffs by bike or, car or buggy visiting the most picturesque sites in AlUla, home to the UNESCO World Heritage Site of Hegra. With its proximity to Pastry Boutique and the AlUla Old Town, Cloud7 Residence offers opportunities to meet artisans, purchase locally sourced souveniers and enjoy Saudi-inspired cuisine. The property is the latest addition to AlUla’s hospitality landscape providing mid-scale accommodation to travellers and guests who are seeking to work or stay for shorter or longer periods of time. The country’s transformation to a global tourism destination is now welcoming a growing number of visitors, consultants and employees from organisations that support the growth of this space working remotely from different places in the Kingdom. These visitors have already become one of the biggest contributors to the placemaking of AlUla globally.

This new Lodge is part of Kerten Hospitality’s global footprint of 50 projects. Recently, Kerten Hospitality, a mixed-use and ESG-focused lifestyle operator, announced new Cloud7 projects in Europe and the Middle East as part of the brand’s global expansion.

February 7, 2023 – Singapore – Algorand Foundation, the organization focused on growing the ecosystem for the world’s most advanced, secure and reliable layer-1 blockchain, announced broad-reaching partnerships in India.

With India set to surpass China as the world’s most populous country this year, the Foundation is committed to supporting the creation of employment opportunities and solutions that serve India’s vibrant population.

Algorand is the first layer-1 blockchain protocol to partner with T-Hub, India’s premier innovation hub with 600+ corporate partners, including Intel, AWS, Boeing, Meta, Microsoft, Cisco, among others. This partnership will support startups and established companies building high-impact, scalable blockchain-based solutions.

“T-Hub and Telangana state are committed to supporting a Web3 ecosystem of entrepreneurs, developers and creators. Our new partnership with Algorand, especially given the sustainability and real world utility of its blockchain in a market like India, is strong evidence of that,” said M. S. Rao, T-Hub CEO. “This partnership will help our ecosystem scale globally and access capital from around the world.”

Through partnerships with Jawaharlal Nehru Technological University Hyderabad and the Indian School of Business, the Algorand Foundation will soon launch faculty development programs, student developer training, and a master class series for companies looking to transition critical business processes to Web3.

In addition, Algorand will act as a technology partner for the new $50 million Global Climate Resilience Fund – launched by the Clinton Foundation and its Clinton Global Initiative, with SEWA as a founding partner – geared towards helping women micro-entrepreneurs address climate change. SEWA is the largest trade union in India with more than 2.1 million female workers. For 50 years, SEWA has improved the livelihoods of self-employed women workers from the informal economy through initiatives including technical training.

In celebrating the new fund, the Algorand Foundation and its CEO Staci Warden have joined Former U.S. Secretary of State Hillary Rodham Clinton and The Clinton Foundation in Ahmedabad. The fund, in part, will help local entrepreneurs connect with the carbon markets and monetize carbon credits that their activities generate. Through business accelerator programs and seed investments, Algorand will support women-led enterprises building solutions to increase financial inclusion and empowerment of SEWA members and low-income working women across India.

“At the Algorand Foundation, we are deeply committed to ensuring blockchain lives up to its potential in creating a more inclusive economy in India and across the globe,” said Warden. “I am thrilled to be back in India, and especially to see the embrace and enthusiasm by people across the country for technology that can so significantly and positively impact their quality of life.”

Algorand’s focus on India follows the Foundation’s recent appointment of Anil Kakani as India Country Head.

“The partnerships we are formalizing this week with India’s most respected institutions and organizations are reflective of the reliability, scalability and real world utility of Algorand’s blockchain technology,” said Kakani. “Our mission is built around sustainable impact. We are ready to take center stage in India and across the globe to fuel world-changing solutions to improve access to financial services, health care, education and so many other critical applications.”

Startups and developers interested in learning more about Algorand and opportunities to take part in this initiative can apply to join a 3-day mini accelerator experience in Hyderabad taking place March 24-26, 2023.