Archives March 2024

Mumbai, 1st March 2024: Amidst a surge in the talent pool of young professionals, apna.co – India’s leading jobs and professional networking platform – yesterday signed a Memorandum of Understanding (MoU) with All India Council for Technical Education (AICTE), a visionary building tools to give access to students as being the official partner for AiCTE, aiming to transform the job placement landscape for college graduates of within the nation’s burgeoning workforce despite their geography.

This strategic partnership ensures that any fresher graduating from an Engineering, Diploma or Management institute will gain access to placement services independent of their college or city. With an extensive user base of 5 crore users and over 5 lakh employers, apna.co emerges as a fitting platform for AICTE to collaborate with. With this strategic collaboration, apna.co intends to enable job opportunities for Engineering and Management Graduates by connecting them with employers.

The MoU was signed in the esteemed presence of the Minister of Education and Minister of Skill Development and Entrepreneurship in the Government of India, Mr. Dharmendra Pradhan, Secretary Higher Education Shri K Sanjay Murthy, UGC Chairperson, Mamidala Jagadesh Kumar and NCVET Chairperson, Dr. Nirmaljeet Kalsi and other dignitaries.

By bridging the talent gap and leveraging apna.co’s extensive network, the groundbreaking partnership has created a pre-placement tech stack. It stands out as the go-to platform right from the start, providing essential features like an AI-based resume builder and comprehensive assistance for students in navigating job and career exploration with the AI-aided interview preparation facility.

Under the MoU, apna.co will offer design, development and upkeep of the AICTE Career Portal for 5 years. The platform is poised to revolutionize opportunities for graduating students, providing them access to a wide array of both Indian and international job opportunities, including internships for current students. Tailored for aspiring job seekers, the platform will also include an AI-based resume builder, real-time notifications for new opportunities and community engagement through specialized affinity-based groups on apna.co. Additionally, by Q3 of 2024, the portal will introduce AI-aided interview preparation and salary assessment by leveraging apna.co’s broad network to provide actionable insights and benchmark salary trends across industries.

Prof. Rajive Kumar, Member Secretary AICTE commented, “The association of AICTE with apna.co will provide opportunities to the students particularly in the rural areas in preparing their CV, identifying the skill gaps as per the market needs and getting employment not in the country but also across the globe. Students will also get internship opportunities in the best of the companies. apna.co will provide all such opportunities to the students free of cost. I appeal to the institutions to disseminate and encourage the students to take advantage of these opportunities.”

This strategic alliance marks a significant milestone in apna.co’s mission to empower professionals and bridge India’s talent gap. By democratizing access to career opportunities and providing tailored support to students, apna.co and AICTE are set to reshape the future of college placement in India.

Nirmit Parikh, Founder & CEO of apna.co, commented, “In today’s dynamic job landscape, we are committed to building the future of India by enabling its youth to excel in the national and the global workspace. We at apna.co believe that India’s youth will not only meet but lead the charge in shaping the future of the global workforce and plan to address the challenges faced by India’s youth in navigating the complex job market. We are humbled to be partnering with AICTE. This initiative is envisioned to empower fresh graduates and job seekers with the platform needed to kick-start their careers and meet professional ambitions.”

Talking about the partnership, Karna Chokshi, Chief Business Officer of apna.co, said, “With this groundbreaking collaboration with AICTE, we aim to not just enhance job placement opportunities but also foster a generation of empowered professionals. With features like AI-driven tools for resume building and interview preparation on our career portal, we are not only addressing immediate challenges but also laying the groundwork for their sustained success in the long run. Our partnership with AICTE will not only not only bridge the talent gap but also cultivate a workforce that will drive innovation, productivity, and growth across industries, both nationally and internationally.”

1st March 2024– SVKM’s NMIMS Bengaluru hosted the 11th edition of TEDx Bengaluru. This year’s theme, “Rhythm of Revelation: Where Chance Encounters Brilliance,” explored the intriguing concept of how unexpected connections and serendipitous moments can lead to amazing discoveries and accomplishments.

 In the 15 th year of its memorable journey, NMIMS Bengaluru has garnered several accolades over the years, including recognition as one of India’s top 15 private schools of business management. The institution has consistently shown a commitment to academic excellence and innovation, helping it earn a reputation for nurturing future leaders and encouraging interdisciplinary learning.

  TEDx Bengaluru has been a flagship event at NMIMS Bengaluru, with each edition showcasing thought-provoking ideas and inspiring narratives from eminent speakers. Past editions of TEDx Bengaluru have received widespread acclaim for inviting well- known people as speakers, promoting intellectual discourse and sparking meaningful conversations on a diverse range of topics.

 The diverse and versatile lineup of participants at the 11th edition of TEDx Bengaluru brought unique perspectives that resonated deeply with the event’s theme, “Rhythm of Revelation: Where Chance Encounters Brilliance.”

 Mr. Vinay Kamath, a seasoned journalist currently serving as the Senior Assistant Editor at The Hindu Business Line, is known for his insightful reporting and analytical prowess in business journalism. Having traded a degree in MBA to become a journalist, he spoke about embarking on writing a book on Titan, a TATA Group company. “It was a revelation that the founding of such a big company was a journey of several accidental and serendipitous moments,” he said.

 Dr. Chella Pandian Pitchai, Global Head DEI & Leadership Development, Biocon Biologics, has 25 years of diverse experience in the field of Biotechnology and dons the hats of an executive coach, a life coach and a certified health coach. He spoke about his addiction to finding NBV – ‘the next best version’ and the techniques of achieving it. He shared, “I researched by interviewing people across generations. It is a continuous process. After talking to several people, I came up with a formula called TEDASK – Talent, Energy, Demonstration, Attitude, Skill, Knowledge – it is about bringing all these things together, being self-inclusive, self-competent and self-conscious, self-coach to achieve the next best version.”

 Ms. Malavika Harita, the CEO of Brand Circle, who excels in communication, brand strategy, and corporate training, has 41 years of experience in her field. She mentors at NSRCEL and other incubators nationwide. She elaborated on her theory of conscious serendipity, saying, “Serendipity is a very fashionable term today and according to me we should be able to take advantage of both beautiful and awful serendipitous moments which come our way.”

 Dr. Sharon Rajkumar, founder of Happiest Health Line, is a passionate advocate for holistic wellness. With a background in nutrition and fitness, she established her brand to empower individuals to achieve optimal health and happiness. Talking about the significance of happiness, she revealed, “Happiness evangelism is a responsibility we all carry, especially for leaders of organisations in the VUCA environment.”

 Meanwhile, Mr. Girish Nagpal, CEO of Metroride India, is a seasoned entrepreneur and public transportation advocate known for his contributions to the development of efficient metro systems and an advocate for sustainable urban mobility. Speaking about the topic, ‘Tough times make you tougher’, he related his own story of trials and tribulations and how he overcame them. “When quitting is not an option, the circumstances and people will align to give you the new life of your dreams,” he said.

 Mr. Prasanna Mysore, a Law postgraduate and Gold Medalist, has a rich career spanning from independent counsel to key roles in big corporations. Speaking about revelations in his life, he said, “In life, you will encounter a fork and will have to choose. You have to be a judge of your capabilities to see if you can stand up to the unknown challenges your decision may entail.”

 Together, these speakers brought to light the role chance encounters and luck play in shaping individual journeys and progress.

  Dr. Narayani Ramachandran, Campus Director of NMIMS Bengaluru, expressed her pride in hosting the event and commended the hard work of the student PR team, and faculty members in making it a resounding success. She added, “It is important to bring together diverse voices and the best of ideas from prominent members of the society to inspire innovation and collaboration and NMIMS Bengaluru has been doing it for the past decade. The presence of such eminent speakers at today’s event is a reflection of NMIMS Bengaluru’s longstanding connection with the industry and experts in their respective fields.”

National, 1st March 2024 – Hero Vired- a leading learntech start-up by the Hero Group, has announced the launch of its special scholarship initiative- #EmpowerHer, aimed at providing special benefits to women learners, ahead of International Women’s Day. Throughout March, Hero Vired will be offering a 25% scholarship to women learners across all programs. The initiative underscores Hero Vired’s commitment to fostering gender equality and promoting equal opportunities for women in education and in the workforce.

These scholarships will be applicable for program batches starting in the months of March and April 2024. The scholarship will be applicable across all courses & programs offered by Hero Vired, ranging from its Product Management and Data Analytics programs to Extended Reality (AR +VR) and its Gaming & E-sports programs. Being a completely digital offering, applicants can visit the Hero Vired website to review the eligibility requirements & complete the application form on the website. On completion of the course, learners will receive a digital scholarship certificate, in addition to the program completion certificate.

Hero Vired witnessed a remarkable jump in women participation across its cohorts, growing from 5% in 2021 to ~20% in its recent batches. With this initiative, Vired aims to further strengthen this ratio, especially in its Tech & Future Tech program, fostering diversity and inclusion.

Despite comprising 36 percent of India’s tech workforce, women face a significant drop in representation as they ascend the corporate ladder, as per data from Nasscom[1]. As per Skillsoft 2023’s IT Skills and Salary report[2], among technology professionals with at least 26 years of experience- 15% of men hold executive-level positions compared to only 4% of women in similar positions. Hero Vired’s #EmpowerHer scholarship aims to address this concerning gender gap in leadership roles, and foster career growth for women to help them break through these barriers.

Commenting on the launch of the initiative, Mr. Akshay Munjal, Founder and CEO, Hero Vired said, “By launching this special scholarship initiative for women learners, we aim to break down barriers and create a more inclusive learning environment while celebrating and empowering women. We are catalyzing positive change and building a more balanced workforce of the future. Our diverse course offerings across various domains ensure that women can choose a path that aligns with their interests and career goals.”

Over the past year, there has been a steady increase in women’s participation in the workforce. The 2022-23 Periodic Labour Force Survey[3], released by the Ministry of Statistics and Programme Implementation on October 9, 2023, revealed a significant 4.2 percentage point increase in the Female Labour Force Participation Rate, reaching 37% in 2023. This trend aligns with the rising demand for upskilling programs, enabling women to transition into new career trajectories and seize enhanced job opportunities. Through this initiative, Hero Vired seeks to support women at all stages of their careers, from entry-level professionals to aspiring leaders, and contribute to a more diverse and inclusive workforce.

Bengaluru, March 1st, 2024: The Roadster Life Co, the 11-year-old and one of the most-loved, and sought-after brands available on Myntra, has launched its new brand campaign, ‘trends with benefits’. The campaign features the brand’s new ambassadors, ace stand-up comedian, Zakir Khan, and Bollywood diva, Jacqueline Fernandez, and highlights its trend-first fashion offerings.

Renowned for its denim heritage, The Roadster Life Co has evolved into a brand synonymous with exploration, adventure, and daring pursuits. As a brand with a celebrated legacy and loyal customer base, it’s now poised to elevate its offerings to meet the increasingly trend-first demands of fashion-forward consumers in both metro, as well as tier 2 and tier 3 markets, thus connecting with the evolving needs of its existing and new customers. Introducing three key concepts – Neo Core, Road Trip Ready, and UtilityxStreet – The Roadster Life Co will bring a monthly dose of trendy selection to Myntra’s platform. These styles will span across key categories including men’s casual wear, women’s western wear, casual footwear, and accessories, curated for both everyday moments and special occasions, enabling shoppers to stay on top of the fashion game. ‘Trends with Benefits’ encapsulates the brand’s commitment to providing affordable access to the latest trendy fashion from the brand at an affordable price. The promise extends beyond mere style, and includes ‘benefits’ of empowering individuals to elevate their fashion quotient, boost confidence, and help them unleash their limitless potential.

The choice of stand-up comedian Zakir Khan and Bollywood actor Jacqueline Fernandez as brand ambassadors brings a unique blend of relatability and fashion credibility to the brand and aligns with its latest positioning. As his first fashion brand endorsement, Zakir offers relatability, as someone who has made it big from humble beginnings. He is able to connect with fans across the country, enjoying massive clout on social media and a strong fan base. Known for her glamorous and stylish fashion, Jacqueline adds an authority of fashion to the brand. As the first woman brand ambassador

for The Roadster Life Co, she embodies the perfect fit for the brand, synonymous with her fashion choices – trendy yet comfortable, stylish yet practical. With this, The Roadster Life Co aims to tap into both of their wide fan base while playing an instrumental role in making trendy and branded fashion accessible to them.

The two brand films along with multiple 10-15-seconders featuring Zakir and Jacqueline drive home the message of the brand injecting confidence and charisma into an individual’s persona through trend-first fashion, while highlighting the latest affordable trendy fashion for everyday and special occasions across men’s casual wear & women’s western wear at an affordable pricing.

Bengaluru, March 1, 2024: In line with our commitment to upholding the highest standards of transparency, we are pleased to release the Adani portfolio’s results, credit, and ESG compendium. It offers insights into the quarterly and trailing twelve-month (TTM) financial performance of the portfolio, reinforcing our dedication to providing clear and detailed information to stakeholders and the public.

The performance of the past 12 months reveals the strength of the Adani portfolio that can thrive under diverse external circumstances. With surging cashflows from consistently rising profits and conservative leveraging, the portfolio is well-poised to propel strategic investments on an unprecedented scale.

Portfolio Performance for Q3 FY24 and Dec 23’ Trailing-Twelve-Months

• Record growth: With a record quarterly EBITDA growth of 63.6% YoY, the TTM EBITDA as of 31 December, 2023 reached INR 78,823 crore (USD 9.5 Bn) — 2.5x FY21 EBITDA.
• Core infrastructure: The growth was powered by the highly stable core infrastructure platform. Growing at 35.5%, it generated INR 66,208 crore (USD 8 Bn) — 84% of portfolio EBITDA.
• Ratings: Domestic and international rating agencies, including S&P Global and Moody’s, have upgraded or positively revised the outlook for all key portfolio companies.
• Conservative leveraging: The portfolio continues to remain conservatively leveraged with i) Net Debt to EBITDA as low as 2.5x; ii) Debt coverage of 2.1x; and iii) Gross Assets to Net debt at 2.5x — as on 30 September, 2023.
• Liquidity position: High liquidity is maintained with a healthy cash balance of INR 44,572 crore (USD 5.4 Bn) — at the end of 31 December, 2023.
• Market access and investments: Higher ratings and healthy cash flows have allowed continued market access, facilitating substantial investments in the year-to-date (1 April, 2023-31 December, 2023). During this period, various portfolio companies have drawn funds worth INR 91,290 crore from various sources, including international and domestic banks, and others.

Financial performance for Q3 FY24 and Dec 23’ TTM                                                           (in INR crore)

(Utility= Adani Power Limited + Adani Green Energy Limited + Adani Total Gas Limited + Adani Energy Solutions Limited | Transport= Adani Ports And Special Economic Zone Ltd|  AEL: Adani Enterprise Limited |)

Business-wise highlights:

 Incubator

Adani Enterprises (AEL)

The emerging infrastructure businesses, including the ANIL ecosystem (green hydrogen ecosystem), airports and roads, have picked up momentum over the past few quarters and now contribute 45% of AEL’s total EBITDA. Another emerging business, green energy-powered data center, is also progressing well. The 500 KTPA copper smelter, built to support captive as well as external copper demand from the renewable industry, is ready for commissioning.

• ANIL: Received COD certification from the Solar Energy Corporation of India for setting up electrolyzer manufacturing.
• Solar module sales have more than doubled due to higher exports.
• The wind turbine generator (WTG) business, with an order book of 142 sets, has already produced 15 sets and delivered 7 since commissioning.

65. ii) Airports:At the seven operational airports, passenger movement has increased 23% YoY in the first nine months to 65.6 million; they are now tracking an annual figure of 85 million.

• The greenfield Navi Mumbai airport is well on track to start operations by December 2024.
• Phase I of City Side Development (CSD) has started across 98 acre at five airports.
• 57% of the electricity consumed by portfolio airports was from renewables.

iii) Roads: 4 out of 10 projects are more than 60% completed in line with the target schedule.

 iv) Data center:18 MW Noidagreen data center is now operational. Under construction pipeline stands at 112+ MW.

Energy & Utility Platform

Adani Green Energy (AGEL): Operational renewable capacity has increased to 9,029 MW after the commissioning of 551 MW at the Khavda renewable energy park. It will be the world’s largest RE park after 30 GW is developed over the next five years; this can power over 16 million homes and create 15,200 jobs every year.

• AGEL was ranked amongst the top 3 global solar PV developers as per the Mercom Capital Group.
• Successfully delivered the refinancing plan for USD 750 million Holdco notes due in September 2024 by providing a cash deposit in the Senior Debt Redemption Account (SDRA).
• INR 9,350 crore (USD 1.125 Bn) fund infusion by the promoter entity and USD 300 million investment by strategic partner TotalEnergies has positioned AGEL well to achieve its 45 GW target by 2030.

Adani Energy Solutions (AESL): Successfully operationalized the critical Khargar Vikhroli Transmission Line to connect Mumbai to the national grid, taking total network to 20,422 ckm.

• Adani Electricity Mumbai, a distribution subsidiary of AESL, supplied 35% renewable power in the total electricity mix to the city — one of the highest amongst all global mega-cities. GHG emission intensity at 38.32% was lower than FY19.
• For the distribution business, AESL is exploring new geographies like Navi Mumbai in Maharashtra, Greater Noida in Uttar Pradesh, and Mundra in Gujarat.
• The transmission business orderbook stands at USD 2.4 Bn (INR 17,000 crore) after receiving letter of intent for new projects for renewable power evacuation – Khavda Phase-III Part A and KPS-1 (Khavda Pooling Station) Augmentation.
• The new business of smart meters has a pipeline of 21.1 million meters, with contract value of INR 25,000 crore (USD 3 Bn) in Andhra Pradesh and Uttarakhand.

Adani Total Gas Limited (ATGL):Pipeline network increased to 11,712-inch km, PNG connections to 7.79 lakh, and EV charging stations to 329. A total of 45 new CNG stations also added.

Transport & Logistics Platform

Adani Ports & SEZ (APSEZ): Domestic cargo handled grew 23% YoY — 2.5x India’s growth, achieving a record volume of 311 MT for the first nine months. It is on track to beat the annual volumes guidance.

• The share of non-Mundra domestic ports in volumes has now increased to 56%.
• Vizhinjam port berthed three vessels in the quarter, and is targeting commissioning in Q4 FY24.
• The Dhamra LNG terminal commenced operations.
• APSEZ sold 49% stake in the Ennore port container terminal to MSC.
• The logistics business delivered the best quarter till date, while adding 23 rakes, Loni and Valvada ICD, and warehouses at NRC and Indore.
• 14% of domestic ports now consume renewable power.

Adjacencies

Adani Cements: Added 15% or 8.6 MTPA capacity, taking total capacity to 77.4 MTPA (76.1 MTPA under Ambuja and 1.3 MTPA under AEL). This also includes the successful acquisition of Sanghi Industries (capacity of 6.1 MTPA) and Asian Concretes & Cements (1.5 MTPA – earlier owned 49%).

• Synergies with Adani Portfolio resulted in 90% rise in operating margins. EBITDA/ton is now at USD 1322/ton against USD 695/ton in the corresponding period year ago.
• Ambuja, an Adani cements and building materials company, has committed a significant investment of INR 6,000 crore (USD 720 mn) for renewable power projects, targeting a capacity of 1,000 MW, primarily for captive use.

ESG updates for Q3 FY24 and Trailing Twelve Months

• AGEL was ranked first in ESG assessment with an improved score for the second consecutive year.
• AGEL recorded as water positive for all operational power plants > 200 MW. AESL is 100% water positive for all transmission assets, and Ambuja is 13.1x water positive.
•  In the CDP ratings for 2023, all Adani portfolio companies achieved a rating between ‘A’ and ‘B’, a testament of strong adherence to the highest standard of ESG practices. AESL has  improved ratings from ‘D’ to ‘B’ — a two-level jump. In a significant achievement, AGEL moved up two ranks to the leadership category. With this, four Adani portfolio companies, including APSEZ, AGEL, Ambuja and ACC are now in the leadership category.
• Ahmedabad and Thiruvananthapuram international airports received Environmental Excellence Awards for their strong commitment to sustainability and outstanding practices in waste recycling, water management, energy efficiency and reduction in gas emissions.

Mumbai real estate market witnessed a significant upturn in February 2024, with property registrations soaring to 11,742, a 21 percent increase compared to February 2023’s 9,684 registrations, and a 7 percent rise from January 2024’s figures, as per data from IGR Maharashtra. This growth marks the highest number of property registrations for any February in the last twelve years, underscoring a buoyant demand for real estate in India’s financial capital. The prior peak in February 2022 was fuelled by heightened optimism and the release of pent-up demand as the pandemic effects diminished. However, the recent upsurge can be credited to rising income levels and a favourable sentiment towards homeownership, said Knight Frank India in its report.

Despite this surge in property registrations, the sector faced a downturn in revenue from stamp duty collections, which saw a 22% year-on-year drop from Rs 1,112 crore in February 2023 to Rs 865 crore in February 2024. However, on a month-on-month basis, there was an increase in stamp duty collections from Rs 760 crore in January 2024.

Here are the comments from the real estate experts on the robust property registrations:

Mr. Prashant Sharma – President, NAREDCO Maharashtra “We are witnessing an exceptional period in the Mumbai real estate market, as evidenced by the remarkable number of property registrations in February 2024. The continued upward trajectory in 2024, not only represents a strong start to the year but also signals a healthy and resilient market environment. We remain optimistic about the sustained growth and vitality of Mumbai’s real estate market, driven by favorable economic conditions, increasing income levels, and a collective aspiration towards owning property.”

Mr. Pritam Chivukula – Vice President, CREDAI-MCHI and Co-Founder & Director, Tridhaatu Realty “The exceptional performance of the Mumbai housing market, marked by record-breaking home sales, reflects the city’s growing realization of the essential value of homeownership. This surge in demand is not just about securing a place to live; it’s about aspiring for an improved quality of life, fueled by rising income levels and the desire for a better lifestyle. Moreover, the development of new infrastructure has significantly enhanced connectivity and travel convenience, broadening the spectrum of housing choices available to prospective buyers. It’s a testament to how infrastructure development and economic growth go hand in hand in creating a vibrant housing market that meets the aspirations of its residents.”

Mr. Vedanshu Kedia – Director, Prescon Group “February 2024 stands out as a landmark month for Mumbai’s real estate market, with property registrations reaching a 12-year high. The market showcased remarkable resilience and growth that underscores the robust demand for real estate in the city. This surge in registrations paints a promising picture for Mumbai’s real estate sector. It is clear that the demand for homes in Mumbai is on an upward trajectory, driven by improved income levels and a positive outlook on homeownership. As we move forward, it’s crucial for stakeholders to leverage this opportunity to strategize and align with the evolving market demands.

Mr. Himanshu Jain, VP – Sales, Marketing and CRM, Satellite Developers Pvt. Ltd. (SDPL) “The Mumbai real estate landscape is witnessing robust growth, particularly in the demand for housing, leading to impressive home sale figures. A notable trend is the shift in preference towards the suburban areas, driven by the allure of improved infrastructure and connectivity which in turn enhances the quality of life. The demand for compact and affordably priced homes in these areas is on the rise, indicating a significant market shift. These homes not only offer an attractive price point but also cater to a broad range of lifestyle aspirations. The suburbs have become a focal point for those seeking quality living spaces that promise both comfort and convenience, marking a new chapter in Mumbai’s real estate development.”

Bengaluru, March 1, 2024: In a significant step towards creating an indigenous (“Make in India, For the World”) semiconductor ecosystem in India, Government of India has approved a proposal from Tata Electronics to build a mega semiconductor fabrication facility (“Fab”) in Dholera, Gujarat in partnership with PSMC. The fab construction will begin this year with a total investment of up to INR 91,000 crores (~US$11bn) and will generate over 20,000 direct and indirect skilled jobs in the region. With this announcement, Tata Electronics enters the global semiconductor industry.

Tata Electronics (a wholly owned subsidiary of Tata Sons Pvt. Ltd.) in partnership with Powerchip Semiconductor Manufacturing Corporation (PSMC) will build India’s first AI-enabled state-of-the-art Fab. This Fab will have manufacturing capacity of up to 50,000 wafers per month and will include next generation factory automation capabilities deploying data analytics and machine learning to achieve industry-best factory efficiency. The new semiconductor Fab will manufacture chips for applications such as power management IC, display drivers, microcontrollers (MCU) and high-performance computing logic, addressing the growing demand in markets such as automotive, computing and data storage, wireless communication and artificial intelligence.

N Chandrasekaran, Chairman, Tata Sons had announced Tata Group’s decision to build a semiconductor fab in Dholera in the 20th Vibrant Gujarat Summit in January 2024. Commenting on the planned semiconductor Fab he said, “Tata Group has a tradition of pioneering many sectors in the country, and we are confident that our entry in semiconductor fabrication will add to this legacy.

With AI-led digitization of every aspect of human existence, semiconductors will be the most critical building block. By 2030, Global semiconductor industry is expected to grow to US$ 1 trillion and Indian semiconductor demand is expected to cross US$110bn. India’s entry in the semiconductor manufacturing will significantly de-risk global supply chains and will make India a very important player in the global semiconductor industry.

We are proud to lead India’s entry into global semiconductor fabrication. This will also accelerate our progress towards providing high-technology employment opportunities for the youth of India.

Today’s announcement is possible because of the enduring vision of the Government of India under the leadership of Hon’ble Prime Minister Shri Narendra Modi in defining comprehensive central and state semiconductor policies, as well as continuous advocacy and support from Ministry of Electronics and Information Technology (MeitY), India Semiconductor Mission (ISM) and the Government of Gujarat.”

Emphasizing the significance of this strategic step, Dr. Randhir Thakur, CEO & MD, Tata Electronics said, “This marks a beginning of a new era for India. Tata Electronics is proud to play a prominent role in strengthening the global semiconductor ecosystem. Our partnership with PSMC provides access to a broad technology portfolio in leading edge and mature nodes including 28nm, 40nm, 55nm, 90nm & 110nm and also collaboration for high volume manufacturing. We are confident that the upcoming Fab will support our ambitions of “Make in India, For the World”. We will be able to serve our global customers’ requirements for supply chain resilience and meet the growing domestic demand.”

PSMC, which is one of Taiwan’s leading pure-play foundry companies with capabilities across logic and memory technologies, will provide access to leading-edge and mature technologies. Dr. Frank Hong, Chairman, PSMC said “Tata Group is one of the most established and well-respected names in India and globally. We are very excited to enter in partnership with Tata group, that I believe will script a new era in the global semiconductor industry. Semiconductor industry presents a large and growing opportunity, and India is uniquely placed to capture this opportunity. On one end India has a large and growing domestic demand and on the other end global customers are looking at India for supply chain resilience. There could not have been better time for India to make its entry into semiconductor manufacturing industry. This partnership has the potential to redefine the contours of global semiconductor manufacturing and we are looking forward to collaboration with Tata Electronics.”

This new initiative from Tata Electronics will bring to India a portfolio of cutting-edge semiconductor technologies, advanced skill set and talent, and a network of semiconductor manufacturing suppliers and ecosystem partners, resulting in foundational development of indigenous semiconductor ecosystem in India. With this Fab, India for the first time will be able to address the growing chip demand of domestic and global customers across automotive, computing, communications, and artificial intelligence markets. Tata Group’s multi-fab vision for Dholera is projected to create over 1,00,000 skilled jobs and establish India as one of the key supply chain partners to the global semiconductor industry.

Hyderabad, March 1st, 2024….. Forsys Inc, a California based IT company, globally recognised Quote-to-Cash (Q2C) transformation leader offering end-to-end technology consulting and services opened its new office 21000 sft with seating capacity of 400 resources, environmentally aligned and with exquisite designing in 5th Floor, Phoenix Aquila, Tower B, Financial District, Nanakramguda, in the most happening Gachibowli in Hyderabad. The facility is set up at an investment of US $ 2 million.

Shri D. Sridhar Babu, Hon’ble Minister of IT, Govt of Telangana; Ms. Jennifer Larson, Consulareneral, US Consulate General, Hyderabad inaugurated the new facility.

Mr. Srinivasa Raju,
Chairman of iLabs Group; Dr Gopichand Mannam
Cardiothoracic Surgeon and MD of Star Hospitals and other graced the inaugural

Speaking on the occasion D. Sridhar Babu said Telangana Government is committed to attract investments in the state to create employment opportunities.

The IT Minister congratulated J P Vejendla and his team and hoped that they will contribute in developing Hyderabad another Silicon Valley with their experience, expertise. JP Vejendla successfully steered Forsys towards excellence, he added.

He also suggested that private firms and government must come together work on collaborative endeavours for social and economic development of the region, the minister said Jennifer Larson, Consul General of the US Consulate who also graced inaugural function said India and the USA have developed into strong bilateral friendship based on shared democratic values. There are many areas of cooperation. India is doing well in IT and ITes services she added.

Mr. Srinivasa Raju, Chairman of iLabs Group said that he spent early career in IT before moving into investments. You
know J P Vejendla, just just a founder of Forsys, but he is a serial Entrepreneur with several credentials and a name to reckon in IT industry in Silicon Valley and founder of many companies and made them very successful. Knowing him well, I may not be surprised if he turns this into another billion US dollars company very soon.

We will certainly contribute to the vision of the IT Minister D Sridhar Babu in his efforts in making Hyderabad another Silicon Valley said JP Vejendla and thanked IT minister for inaugurating the new facility.

Forsys excels in providing Lead to Revenue services specializing in sectors like High-Tech, Manufacturing, Healthcare, Retail, and BFSI with all-inclusive cloud-based solutions. It has a strategic partnerships with Salesforce, Conga, Oracle, and NetSuite. It has Global reach serving 100 prestigious customers. Currently it has a team of 200 professionals.

Imagine Tresor, the authorised Apple retailer, was thrilled to announce the grand opening of its state-of-the-art store in Reach 3 Roads. Nestled in the bustling high street property of Reach 3 Roads, this expansive store spans approximately 1300 sq ft, strategically positioned at the heart of a vast residential hub encompassing sectors 69, 70, 70A, 71, 72, 73, 76, 77, 78, and 79.

The launch event was a tech extravaganza, graced by esteemed guests Shri OP Dhankar, National Secretary of BJP, as the Chief Guest, and Shri Deepak Gahlawat, IPS, DCP Gurgaon, as the Guest of Honour.

Speaking at the occasion, Shri OP Dhankar, National Secretary of BJP, said, “It is indeed a moment of happiness that Apple’s products are being manufactured in India. This is due to the efforts of our Hon’ble Prime Minister, Shri Narendra Modi, under his ‘Make in India’ initiative. We should take this spirit forward and aim to become the No. 1 country in the world.”

Mr. Harinder Singh Hora, Director of Reach Group, expressed Reach 3 Road’s excitement in partnering with Imagine Tresor, highlighting Reach Group’s dedication to delivering unparalleled customer experiences. He stated, “We are delighted to welcome Imagine Tresor to Reach 3 Roads. Our ethos revolves around providing top-tier customer service, and we believe that they embody our vision perfectly. With its prime location and tech-savvy team, the store is set to become the go-to destination for Apple aficionados and tech enthusiasts in the vicinity.”

“Imagine Tresor is proud to unveil its newest Apple Store at Reach 3 Roads, Gurugram. With a complete range of Apple products and an ecosystem of suiting accessories, our store is not just a retail space; it’s an Apple enthusiast’s haven,” said Mr Shaurya Seth, Founder, Tresor Systems Pvt. Ltd, at the opening

The new Imagine store is set to showcase various Apple products and services, including the latest gadgets and technology. Customers can look forward to expert guidance and support from Imagine Tresor’s knowledgeable staff, who are committed to delivering exceptional service. Reach 3 Roads has emerged as the top choice for leading brands such as Samsung and Croma, Zudio, Misbu, ICICI, Starbucks, Sodhis, Soul, and others that have also opened their outlets here.

Anticipated to spark immense interest among residents and tech enthusiasts in the region, Mr Hora envisions this as the dawn of an exciting era for Reach 3 Roads. He shared, “Our goal is to offer a superior shopping experience to our customers, and the addition of Imagine’s new store underscores that commitment. We eagerly anticipate welcoming customers to Reach 3 Roads and providing them with a seamless tech shopping experience.”

The highly anticipated grand launch event had promised to captivate attendees as they had flocked to experience the pinnacle of Apple offerings and services.

Mumbai, March 1st, 2024: Frost & Sullivan, India’s top Growth Advisory Company, has revealed in its latest Total Cost of Ownership Benchmark analysis that Kia’s best-selling innovations – Seltos and Carens offer segments’ lowest maintenance expenses in both diesel and petrol variants.

According to the research findings, Kia Carens has emerged as the frontrunner in the family mover segment, showcasing the most economical maintenance costs for both petrol and diesel variants by 21% and 26%, respectively. Its diesel models feature the lowest acquisition cost presenting outstanding value for modern customers. Moreover, Carens Diesel closely follows the segment’s top performer in minimizing fuel costs, solidifying its position as one of the most premium family car options with a compelling value proposition.

Frost & Sullivan also stated that Kia’s bestselling innovation, the Seltos, also offers the lowest maintenance costs for petrol variants, delivering a minimum of 17% savings over the industry average. Additionally, the diesel variants share the lowest maintenance costs with another segment leader. In terms of overall total cost of ownership (TCO), the Seltos closely follows the segment’s top performers, securing the second-best TCO for its diesel variant and the third-best for its petrol variant.

Notably, the firm also declared in December 2023 that Sonet has the best maintenance cost in the Compact SUV segment. The report stated that Sonet’s Petrol and Diesel variants’ Maintenance Costs are 16% and 14% lower than the segment average, respectively.

Mr. Hardeep Singh Brar, National Head Sales & Marketing, Kia India, stated, “We are thrilled to be recognized by Frost & Sullivan as the makers of one of most value-driven mobility solutions for new-age customers. Choosing a Kia isn’t just a wise decision for today; it’s an investment for the future, given its premiumness, unmatched maintenance and residual costs within their segments.”

These reports by Frost and Sullivan establish Kia models as one of the most value-for-money products in their segment. The survey also underpins Kia’s commitment to offering class-leading products with the best technology, design, and quality along with globally acclaimed aftersales services, which makes them a valued purchasing decision for customers.