Category business

13th February 2024: InsuranceDekho, India’s leading insurtech brand, has received the Great Place to Work certification for this year. The certification, awarded under the renowned Great Place to Work® Assessment and Recognition Program, signifies InsuranceDekho’s unwavering dedication to fostering a culture of trust, employee growth, development, and innovation.

This is the first time InsuranceDekho participated in the survey, and this feat highlights the brand’s commitment to building a workplace environment conducive to growth and excellence. The thorough evaluation process considered various parameters, such as workplace culture, inclusivity, unbiased practices, growth prospects, and more.

InsuranceDekho’s culture garnered top scores in areas such as workplace pride, credibility, and commitment to respect and fairness. Renowned for its employee-first policies, the company has consistently promoted diversified growth, participative decision-making, and empowerment, strengthening its pillars of trust and fairness.

Ankit Agrawal, CEO and Founder of InsuranceDekho, said,” It’s an honor to receive the much-coveted Great Place to Work certification, especially when this is InsuranceDekho’sfirst-ever participation in the survey. The Great Place to Work certification reaffirms our commitment to building an exceptional workplace where employees thrive and contribute to our collective success. It’s a testament to our relentless focus on values, fairness, and empowering our team.”

Divya Mohan, CHRO of InsuranceDekho, said, “We, at InsuranceDekho, keep our employees at the core of our business and being certified by GPWI is a reaffirmation of our faith in what we do every day. We are proud to encourage an inclusive culture that values every individual, promotes growth, and ensures a fair and caring environment for all.”

Great Place To Work is a global authority on workplace culture, employee experience, and leadership behaviors known for driving market-leading revenue, employee retention, and increased innovation. This recognition was conferred to InsuranceDekho following a thorough assessment of the organization based on the great place to work pillars—credibility, respect, pride, fairness, and camaraderie.

Mumbai, 13th February 2024: Shyam Steel, a leading producer and manufacturer of TMT Bars, proudly announces the appointment of Indian actor, politician, and film producer Ravi Kishan as their brand ambassador. This strategic collaboration is specially designed to strengthen Shyam Steel’s presence in the Bihar, Jharkhand, and Uttar Pradesh markets, where the company holds a significant position.

Mr. Lalit Beriwala, Director of Shyam Steel Industries, expressed his enthusiasm about the association, stating, “Ravi Kishan brings a unique blend of charisma and credibility to our brand. His immense popularity in the region, coupled with his versatile presence in Indian cinema and politics, makes him the perfect choice to represent Shyam Steel in these key markets.”

Ravi Kishan, currently serving as a Member of Parliament, Lok Sabha from Gorakhpur, shared his thoughts on the association, saying, “I am thrilled to be associated with Shyam Steel, a brand that shares my commitment to excellence and growth. Together, we look forward to contributing to the development of these vibrant markets and furthering Shyam Steel’s legacy as a leader in the steel industry.”

Shyam Steel recently announced that its turnover has reached ₹6,000 crores, and the company is poised for further growth with a target of ₹9,000 to ₹10,000 crores over the next two to three years. As part of their recent expansion initiatives, they commissioned a new capacity at the Mejia plant, increasing their integrated steel capacity from 0.65 million tons to 1 million tons. The company’s ambitious expansion plans also include the acquisition of 600 acres of land in Purulia, Raghunathpur block, for a new greenfield project. This project, a 0.35-million-ton integrated steel facility, is expected to significantly contribute to Shyam Steel’s goal of achieving a turnover of ₹10,000 crores. The company is dedicated to play a pivotal role in achieving the target of 300 million tonnes of steel production by 2030-31, contributing to India’s transformation into a self-reliant $5-trillion economy.

Shyam Steel is expanding on all fronts, from broadening its distribution networks to increasing its production capacity from 0.65 million tons to 1.35 million tons. The company is committed to playing a pivotal role in India’s growth story, and its association with Ravi Kishan reflects their shared values of excellences and progress.

Bhopal,13th February 2024 LAPP India, a leader in cable and connection technology, inaugurated its first-ever compounding plant within the entire LAPP Group. This state-of-the-art facility, sprawling across 36,000 square feet in Bhopal, Madhya Pradesh, signifies a monumental leap towards backward integration and self-reliance. Equipped with cutting-edge technologies, including an automated dosage system, the plant enables large-scale manufacturing of proprietary formulations developed by the collaborative ‘Compounding Plant Braintrust’ – a team of experts from LAPP Korea, LAPP Switzerland, LAPP Germany, and LAPP USA dedicated to crafting specialized compounds for diverse cable applications.

Mr. Matthias Lapp, Chairman of the Board of Lapp Holding SE & CEO LA EMEA inaugurated the plant. The event
was graced by Mr. Andreas Lapp – Chairman of the Board for Lapp India, Gary Bateman – Managing Director of LAPP India and other the senior management of LAPP as well as esteemed customers. This strategic expansion marks a significant milestone in LAPP India’s growth journey and highlights its commitment to cater to the growing demand for its high-quality cables and connection systems across various sectors.

Mr. Matthias Lapp, Chairman of the Board of Lapp Holding SE & CEO LA EMEA on the inauguration said, “We are incredibly proud of the achievements of our team at LAPP India. The opening of this state-of-the-art compounding plant is a testament to the dedication and commitment to innovation at LAPP. This facility equipped with cutting-edge technologies such as ‘Automatic Dosage System’ and predictive intelligence, signifies LAPP India’s dedication to ‘Make in India’ initiatives. It boosts local production and drives regional growth.”

Coinciding with the launch of the new plant that is dedicated to backward integration and developing proprietary
compounds, LAPP India marks a 25-year milestone. The Compounding Plant with state-of-the-art equipment and automated system ensures quality and consistency in the compound mixing process which is important to manufacture cables for special applications. This plant additionally houses a revolutionary E-beam charger, directly addressing the surging demand for high-performance cables in crucial sectors like railways (ensuring reliable operations), metros (supporting sustainable urban transportation), renewable energy (providing durable cables for clean energy projects), and e-mobility charging (enabling next-generation charging infrastructure).

Mr. Gary Bateman, Managing Director, LAPP India, said “The inauguration of our Bhopal plant signifies a transformative leap for LAPP India. Beyond meeting India’s growing demand for high-quality cables, this state-of-the-art facility signifies a commitment to fostering India’s industrial growth by fueling innovation and local employment opportunities. The newly inaugurated plant holds a great significance for LAPP India as it is initiating a journey of backward integration for development of proprietary compound formulations.”

Since its inception in 2012, the Bhopal plant has witnessed an incredible journey. It began with single-core production, steadily expanded to multi-core and solar cables, and now boasts a compounding plant for specialized cable manufacturing. This remarkable progress reflects LAPP India’s dedication to continuous improvement and serving the evolving needs of the Indian market.

LAPP India aims to be a 300-million-euro company by 2027, solidifying its position as a leading force in the Indian cable industry. With a vision for further expansion, Mr. Lapp and Mr. Bateman expressed their enthusiasm for establishing similar setups in the near future, solidifying their commitment to driving industry excellence in India.

Pune, 13th February 2024: Easebuzz, a leading full-stack payment solutions platform, has been honored with the esteemed ‘Best Payments Fintech Award’ at the recent Bharat Fintech Summit 2024, held in Mumbai. This recognition highlights Easebuzz’s significant contributions to the fintech industry and its success in delivering exceptional payment solutions to over 1,00,000 businesses across India.

The Fintech & Digital Excellence Awards, a highlight of the Bharat Fintech Summit, acknowledge pioneers and leaders who have propelled digital finance & payments forward in India. The summit itself serves as a critical platform for discussions on the BFSI sector’s digital transformation, bringing together a diverse mix of stakeholders, innovators, and technology providers.

Easebuzz’s triumph at the awards can be attributed to its remarkable stack of technology products and solutions created to help Indian Businesses solve problems around payment acceptance, payouts and financial operations. Led by the strong product stack, Easebuzz has clocked a Gross Transaction Value (GTV) of INR 70,000 Crore processed in FY23, marking a 2.5x growth rate over the previous fiscal year. Additionally, Easebuzz recorded a daily transaction volume run rate of 4,00,000 transactions.

Mr. Amit Kumar, Chief Technology Officer, Easebuzz expressed his gratitude and excitement about the win, stating, “This award is a testament to the hard work and dedication of our team at Easebuzz. Our focus on delivering sector-specific, customised payment solutions has allowed us to address the unique challenges faced by businesses in managing their payment lifecycle. We are honoured to receive this recognition and remain committed to driving innovation in the fintech space.”

Easebuzz sets itself apart by offering more than just vanilla digital payment solutions. Its comprehensive platform, tailored for various sectors including education, e-commerce, travel and tourism, insurance, NBFCs etc, provides businesses with the tools they need to digitise, automate, and optimise their payments and financial operations. With an extensive set of technology APIs that are plug-and-play in nature, Easebuzz has established itself as a trusted payment solutions partner for Indian businesses.

The company’s impact extends beyond its technological achievements. Easebuzz has facilitated the digital payment transition for numerous government organisations, non-profits, and prestigious clients like BigBasket, IRCTC, and Symbiosis University, MTDC among others. Through its commitment to security, scalability, and user-friendly solutions, Easebuzz continues to lead the way in India’s fintech revolution.

Bengaluru, 13th February 2024: Manipal Academy of Higher Education Bengaluru is thrilled to announce the inaugural edition of TEDxMAHE Bengaluru. With the theme of “Into the Newness”, the event will center around fresh imaginations and transformative practices of social change. It will emphasize the importance of originality and innovation in reshaping societies by igniting discussions that inspire collective efforts to transform the spaces and bring about positive societal change. The event is scheduled for February 16, 2024, and will commence at 9.00 at the MAHE Bengaluru Auditorium.

TEDxMAHE Bengaluru will present a diverse array of speakers, ranging from arts and sciences to health and gaming. All the speakers, carefully selected for their pioneering work, are based in the vibrant city of Bengaluru, reflecting the city’s culture of innovation and openness.

The key speakers are Dr. Satyanarayana Ramanaik (Adolescent Health Leader), Ishita Shah (Designer, Historian), Dr. Madegowda C (Social Scientist), Paras Sharma (Mental Health Advocate), Shilpa Mudbi (Performance Artist), Summaiya Khan (Inclusion Advocate), Swathi Shyam Sunder (AI Head), Pasha Bhai (Dakhani rapper), Poornima Seetharaman (Game designer), Farah Ishtiaq (Scientist) and Vivek Mishra (Founder, Fibroheal Woundcare). These speakers embody the event’s theme, “Into the Newness,” offering unique perspectives on social change and innovation.

Noteworthy is the gender diversity among the expert lineup, as the majority of speakers are women, ensuring a dynamic and inclusive range of perspectives.

The last date to RSVP via email is 14 January 2024. Secure your passes for an opportunity to discover, learn, and be part of the collective journey towards societal transformation

Bengaluru, 13th February 2024: Bengaluru-based DEI solutions firm Interweave Consulting to host the 5th edition of the two-day conference o3n the theme of “Inclusive by design”, a futuristic perspective in Diversity Equity and Inclusion. Moving away from Inclusion as an afterthought to proactively designing for inclusion from all aspects whether it is accessibility, technology products and solutions, workplace culture and the ecosystem in general including the planet.

This two-day thought-leadership event will take place in Bengaluru on 22-23 February and will delve into using inclusive design principles to drive cultural transformation.

The 5th edition will witness the presence of a distinguished lineup of speakers including

L. Prabhakar, Executive Vice President and Head of Social Investments at ITC; Nirat Bhatnagar, Founder of Belongg and Senior Advisor at Dalberg; Prajakta Kanaglekar Vice President Ekart HR – Flipkart; Prerna Wadikar, Weidenfeld, Saïd, Oxford, Hoffmann, and Lincoln Scholar; Satyaki Raghunath – Chief Operating Officer- Bangalore International Airport Ltd, Vasanthi Srinivasan Chairperson Digital Learning at IIM Bangalore; Veena Gopalakrishnan, Partner in Employment Law at Trilegal; Vieshaka L Dutta – Director DEI – Publicis Sapient; among others who are poised to share insights and engage in meaningful dialogues.

The event will feature sessions on ‘BLUEPRINTS OF BELONGING – Designing Inclusive Workplaces,’ ‘THE INCLUSION CODE’ – Designing Inclusive Technologies,’ ‘PRODUCTS FOR ALL’ – Designing Inclusive Solutions,’ and ‘GREENING OUR FUTURES’ – Designing to include the planet. At a time when design thinking, technology, and AI are impacting organizational strategies and processes, are we equipped to consciously apply and leverage design in our inclusion initiatives.

In addition to these enlightening sessions, ‘Inclusion Now’ will host 4 expert classes on day 1 – 22nd Feb covering topics such as ‘THE TALENT ALGORITHM: Exploring AI Enhanced Talent Management Processes,’ ‘FEARLESS AT WORK – Elevating Team Performance with Psychological Safety,’ ‘SOCIAL-ALLY – Exploring the S of ESG,’ and ‘INCLUSIVE BY DEFAULT – Reimagining Design.’

Speaking on the occasion, Nirmala Menon, Founder & CEO of Interweave Consulting added, “This year, ‘Inclusion Now’ aims to empower attendees to apply inclusive design principles to facilitate

Equity and inclusion at workplaces.

The 5th edition promises an immersive experience, offering support and insights across the two days of discussions, conversations and presentations revolving around a vital new trend in DEI. Attendees can expect success stories, actionable takeaways, and a platform to engage with cutting-edge concepts in the ever-evolving landscape of diversity, equity, and inclusion.”

Mumbai, 14th February 2024– Moneyboxx Finance, a leading player in the small business lending segment, announced their strong financial results for the quarter ended December 31, 2023 (Q3 FY24). The company reported a net profit of INR 5.02 crores in the nine months of FY24, marking a significant improvement compared to the same period last fiscal year.

In the third quarter of FY24, Moneyboxx’s total income saw a substantial surge by 169% to INR 85.55 crores in Q3 FY24, in line with the strong growth in business and AUM. In addition, the company posted a profit after taxes (PAT) of INR 5.02 crores in 9MFY24, marking a significant turnaround from the corresponding last year.

Moneyboxx also witnessed a remarkable 124% growth in AUM, reaching INR 530 crores as of December 31, 2023, driven by branch expansion, higher productivity, and growth in lending partnerships. Currently supported by 31 lenders, including prominent banks like State Bank of India, HDFC Bank, and Kotak Mahindra Bank, the company has strengthened its financial position.

Highlights of Q3 FY24 and 9M FY24 Financial Results

„ Growing operations with improving geographic and product mix: Company expanded operations to 86 branches across 8 states as of Dec’23 compared to 54 branches in 6 states last year. Moneyboxx Finance has a proven, scalable, and tech-driven branch model to capitalize on the growth opportunities in the underserved INR 1-10 Lakh business loan segment in rural India. Geographic and product diversification further improved during the financial year with entry into the states of Gujarat and Bihar, and increased share of securing lending, which grew from 5% of AUM as of Mar’23 to 17% as of Dec’23.

„ AUM grew by 124% to INR 530 crores as on 31-Dec-23 compared to last year led by branch expansion, higher productivity, and growth in lending partnerships. Reported Disbursements of INR 374 crore during 9M FY24, growing by 92% over the same period last year.

„ Strong turnaround in profitability: Total Income grew strongly by 169% to INR 85.55 crores in 9MFY24 compared to INR 31.82 crore in 9MFY23, in line with strong growth in business and AUM. The Company posted profit after taxes of INR 5.02 crores in 9MFY24 compared to a net loss of INR 7.22 crore in 9MFY23. The Company has strong unit economics and interest spread improved by 300 basis points to 16% in 9MFY24 compared to 13% in 9MFY23, supported by an increase in average loan yield and declining cost of borrowings. Achieved ROE of 8.6% in Q3 FY24 and 8.0% in 9M FY24. Profitability is further expected to improve driven by declining cost of borrowings, improving branch productivity with vintage, increased share of secured lending business, and the benefit of operating leverage with growing scale of operations.

„ Strong Balance Sheet: Moneyboxx strengthened its capital base by raising INR 80 crore of equity during the nine-month period ending 31-Dec-2023. Leverage ratio (TOL/Owned Funds) significantly improved to 2.41 as on 31.12.2023 in comparison to 3.67 as on 31.03.2023. Net worth more than doubled to INR 158.68 crore as of Dec’23 compared to INR 76.40 crore as of Mar’23.

„ Diversified funding mix and declining cost of borrowings: With the addition of leading banks and NBFCs, and issue of debt via securitization and NCD issuance, the Company has diversified its funding sources and reduced its cost of borrowings (cost of incremental borrowing stood at 12.84% during Q3 FY24). The Company is supported by 31 lenders as of date, including 10 leading banks (State Bank of India, HDFC Bank, Kotak Mahindra Bank, IDFC First Bank, DCB Bank, Federal Bank, SBM Bank, AU SFB, Utkarsh SFB and Fincare SFB) and leading NBFCs and impact funds.

„ Strong asset quality: While asset quality was impacted during the year as agriculture-driven rural economy was affected by high and erratic rains in operating states of Punjab, Haryana, Rajasthan and Uttar Pradesh, Moneyboxx has relatively strong asset quality with one of the lowest NPAs in the segment owing to its focus on essential sectors and robust underwriting practices. Gross NPA increased to 1.51% of AUM as of 31.12.2023 compared to 0.99% as of 30.09.2023 and 0.59% as of 31.03.2023 and Net NPA increased to 0.94% as of 31.12.2023 compared to 0.63% as of 30.09.2023 and 0.30% as of 31.03.2023. Historically, the Company’s credit cost was less than 3% amidst extreme conditions in the wake of pandemic and lumpy skin disease outbreak in cattle. Unlike stress conditions in the past, the recent deterioration in is expected to normalize sooner and thus, management believes asset quality will remain strong and further supported by increasing share of secured lending (19% of AUM as of Jan’24 compared to 5% as of Mar’23)

Commenting on the results, Deepak Aggarwal (Co-CEO & CFO) said, “Maintaining strong momentum of profitability in 9M FY24, built upon the turnaround in the preceding quarters, validates the strengths of our business model. We have built a sustainable, scalable, and tech-driven business model with robust underwriting practices to cater to the promising and underserved small business loan market in rural and semi-urban areas. We see strong growth opportunities in this segment and aim to transform the lives of micro entrepreneurs through our various beyond-lending impact initiatives such as free vet advisory and agro-forestry for livestock and agricultural borrowers. Moneyboxx is committed to change the way impact investing is looked at and bring significant positive change in the lives of its borrowers.”

In its 375^th meeting held on 10 February, 2024, ONGC Board approved the results for Third Quarter (Q3) of FY 2023-24.

Details are as under:

1. Financial Performance (Consolidated)

 2. Financial Performance (Standalone)

3. Dividend

Board has approved 2^nd interim dividend of 80%, i.e. ₹ 4.00 on each equity share of ₹5.00 The total payout on this account will be ₹ 5,032 Crore. The Record date for distribution of dividend has been fixed for 17^th February, 2024 which has been intimated to the stock exchanges. This is in addition to 1^st interim dividend of ₹ 5.75 per share(115%) declared earlier in Nov,2023.

4. Production Performance

The reduction in ONGC’s production output in 9M FY 2023-24 was due to:

1. Shutdown in Panna-Mukta offshore platforms for commissioning of new crude oil pipeline to modernise its evacuation facilities, post taking over from JV Partners.
2. Cyclone Biparjoy (June 2023) disrupted offshore and onshore production.
3. Crude oil production of a Southern Asset was hampered as a refinery stopped receiving oil, following a leakage in their pipeline.
4. Natural decline from Mature fields

To counter the decline in production from some of the matured and marginal fields, ONGC is taking proactive steps by implementing well interventions and advancing new well drilling activities. The decline in production from matured fields will be compensated in upcoming quarters with commencement of additional production

from upcoming projects, which are under various stages of development; Crude oil production already commenced from KG-DWN-98/2 Block on 7 January 2024.

5. Exploratory Success

ONGC has declared total 09 discoveries (04 in Onland and 05 in Offshore) during FY 2023-24 in its operated acreages. Out of these, 05 are prospects (Offshore) and 04 in Onland are New Pools.

ONGC has monetized 6 discoveries till date during FY 2023-24, viz Gopavaram-21(FY 2023-24), South Mahadevapatinam-2 (FY 2023-24), Karugorumilli-1 (FY 2022-23), Gojalia-13 (FY 2011-12), KG-DWN-98/2–M-1(Padmawati)(FY 2001-02) and KG-DWN-98/2–M-3 (FY 2013-14). 

6. Highlights:  

i.     ONGC announced the successful commencement of “First Oil” from the deep-water KG-DWN-98/2 Block, situated off the coast of Bay of Bengal  on 7 January 2024. 

ii.    Mandapeta Field of Rajahmundry Asset crosses 1.0 MMSCMD gas production mark on 5 October 2023, the highest-ever since inception of the field in 1994, through reservoir characterization & proper well placement, high-volume fracking and timely augmentation of production facilities.

iii.   Hon’ble Minister of Petroleum & Natural Gas and Housing & Urban Affairs inaugurated state-of-the-art digital Corporate Visualization Center, ‘ONGC DARPAN’, in New Delhi. This first-of-its-kind digital hub in India will enable monitoring of the oil and gas wells and drilling units (including offshore) centrally on a real-time basis. 

iv.   MoPNG approved ONGC proposal to form a 100% subsidiary company for green energy and gas business. The wholly-owned subsidiary company shall be engaged into the business of value-chains of energy business viz. Green Hydrogen, Hydrogen blending, Renewable Energy (Solar, Wind and Hybrid etc.), Bio-fuels/ Bio-gas business and LNG. 

v.    In a major step towards e-governance and ease of doing business, ONGC as first beneficiary of National E-Governance Services Ltd. (NeSL) implemented B2B integration with NeSL for Electronic Bank Guarantees (eBG). 

vi.   ONGC has developed Next-gen Acidizing Formulation ‘SPRAS’ for Stimulation of Western Offshore Carbonate Reservoirs to overcome the challenges faced by using Hydrochloric acid (HCl) in matrix stimulation in carbonate reservoirs, which slows down the rate of reaction by using retarding surfactants and completely eliminates the use of diesel.

vii.  ONGC inked contract with IIT-B, Mumbai to boost carbon capture, utilization, and storage (CCUS) research and development in ONGC. This collaboration marks a significant step in furthering the cause of CCUS, in line with the Net-Zero ONGC-2038 vision.

viii. ONGC has been awarded seven blocks measuring 30,341.72 Sq. Km. area under OALP bid round-VIII. The awarded area contains Onland, Shallow water, Deep water and Ultra-Deepwater blocks.

ix.   ONGC launched a significant business process initiative with the inauguration of the ONGC Shared Finance Services in collaboration with IBM Consulting. This will centralize and standardise all vendor payments of ONGC, accelerating the processes. 

x.    ONGC commences cargo dispatch to Mumbai Offshore from Karanja Port to support the increasing scale of operations in the Western Offshore and upgrade the Nhava Supply Base (NSB) without affecting the logistics supply chain to Mumbai Offshore. 

Awards  

i. The Hon’ble Vice-President of India presented the SCOPE Eminence Awards 2019-20 to ONGC for commendable achievements in Environmental Excellence & Sustainable Development on 18^th Jan 2024.

New Delhi, India  February 12th, 2024: The second day of The Times Group presents ET Now Global Business Summit 2024 saw some thought-provoking and insightful conversations by some of the most important thought leaders and decision-makers in the Indian and global business scenario.

Yogi, Mystic and Visionary Sadhguru set the tone for the day’s conversation through his discourse on ‘Wealth &well-being’ where hehighlighted the importance of holistic growth not just of self but also of the planet that we live on. He said, “Well-being encompasses anything that contributes to your sense of wellness and can arise from various experiences. While you may accumulate possessions and achievements, they are external to your true self. Once you begin to identify with what you gather, you inevitably attach value to it. It is crucial to grasp that achieving well-being requires adherence to proper procedures. There exists a scientific and systematic methodology for this endeavor. Without following this approach, well-being remains merely an elusive dream.”

This was followed by an invigorating conversation with Amit Shah, Union Home Minister and Minister of Cooperation, Government of India who gave the audience a glimpse of the government’s plans for the future of India. During his conversation, he said, “BJP has its ideology and agenda in the right place. People join and people leave, and it is natural. I believe in family planning, but in politics, it is always about the more the merrier.  We consistently strive to reform systems that are both feasible and optimally tailored for the evolving landscape of New India. Our government’s clear policy is to have a robust dialogue with each stakeholder to resolve and address any kind of issue that is prevailing in the country. Our agenda for New India will be. Zero tolerance against corruption, end terrorism for the safety of the country.”

Ashwini VaishnawMinister of Railways, Communications, and Electronics & Information Technology shared the transformative plans and upgrades in the railway infrastructure. His account of the speed at which the infrastructure is developing within the country had the audience captivated with a round of applause that lasted for minutes together. He said, “Significant strides have been made to modernize and upgrade the nation’s railway infrastructure, reflecting Prime Minister Modi’s forward-thinking vision spanning the next five decades. Under his leadership, there’s been a remarkable transformation in bureaucratic processes, exemplified by the remarkable progress within the railway sector. Efforts are underway to further enhance and refine the Vande Bharat trains, intending to eventually export these cutting-edge trains to other nations, showcasing India’s prowess in railway technology.”

Highlighting the numerous investment opportunities that India presented, Lord Gerry Grimstone, Chairman, Gemcorp Capital Management & former U.K. Minister for Investment, said, ” In the last three years, India has provided investment opportunities like never before. The past 20 years, saw a twofold surge in foreign investment. The ease of doing business, tax reforms, economic changes, and a ‘welcoming attitude’ has made India one of the most attractive destinations in the world for foreign investment.”

He also spoke about the progress that the country has made in the 5G rollout. “The rapid rollout of 5G, achieved in just 16 months with domestically produced equipment, is a testament to India’s commitment to staying at the forefront of technological advancements. Moving forward, our technology will rival global standards, positioning India as a competitive player in the most advanced sectors” he added.

Conversations around diverse topics such as artificial intelligence, financial literacy, investments in emerging startups, and female inclusion dominated the second day of the summit. Emerging technologies and their contribution to every walk of life right from education, healthcare, and businesses at large were discussed. One of the most important points that was highlighted was that businesses need to understand the changes that have been brought about in new India to realize its full potential.  The panelists emphasized that the biggest issue that the world is facing is that of climate change and the need for businesses to address this and make it a part of their overall strategy. It was agreed that a seamless collaboration between emerging technologies and human intelligence was the only way towards a better tomorrow.

Kolkata, 12th February, 2024: On Saturday, an evening of transcendent musical performances unfolded at the prestigious Vivekananda Hall of The Ramakrishna Mission Institute of Culture, Kolkata as renowned artists gathered to create an enchanting atmosphere celebrating Peace & Harmony. This one-of-a-kind musical extravaganza, presented by Rhythm Express, Global Art Presenter (Kolkata) & Kalyani Roy Memorial Trust, showcased the brilliance of Tabla Maestro, Prodyut Mukherjee (Grammy Jury Member & GIMA Award Winner), Singer, Shri Asish Chatterjee and Sitar Virtuoso, Pt. Partha Bose, mesmerizing the audience with their exceptional talents.

The event was graced by distinguished personalities including Mr. Shyam Pandey (Founder & CEO, IPAF – International Performing Arts Festival), Dr Sayan Bhattacharya (Education Officer, Indian Museum), Ms Alokananda Roy (Renowned Dancer), Ms. Riddhi Bandopadhyay (Renowned Singer) and Mr. Gautam De (Former Regional Director, ICCR).

Starting off the evening’s performances, Shri Ashish Chatterjee captivated the audience with soul-stirring renditions of Devotional Songs like Amay Ektu Jayga Dao, Mayer Mondire Bosi & Khelicho E Biswa Loye, setting the tone for an evening filled with spiritual resonance and emotional depth.

Following Chatterjee’s emotive performance, Pt. Prodyut Mukherjee took center stage, and presented an enthralling showcase of ‘The Art of Percussion’. With intricate rhythms and masterful precision, Mukherjee’s performance exemplified the rich tradition and virtuosity of Indian classical music, leaving the audience spellbound. He brought out various outstanding sound effects in Tabla, such as Movement of two trains side by side on track, the sound of Conch Blowing, Winds and many more.

Closing the evening on a sublime note, Pt. Partha Bose enraptured the audience with a captivating performance, weaving melodies that transcended barriers of language and culture, and evoking a sense of unity and harmony. He was also joined by Pt. Prodyut Mukherjee and their Jugalbandi presented SHANTI DHWANI based on Raga Gaoti, SHRINGAR – Dhun based on Raga Mishra Pilu & RANGEELA RITU – dhun based on Raga Kirwani, tributing the same to the season of Spring.

“‘Peace & Harmony’ serves as a testament to the unifying power of music and art. In a world often divided by differences, events like these remind us of our shared humanity and the universal language of creativity. The performances tonight were not just displays of skill but expressions of the soul. Each artist brought a unique perspective, yet together, they created a harmonious tapestry of sound and emotion”, said Tabla Maestro, Prodyut Mukherjee.

As the curtains fell on Peace & Harmony, the audience departed with hearts uplifted and spirits renewed, reminded of the transformative power of music to unite, inspire and transcend.