Archives December 2024

The RBI opted for a wait and watch mode in todays’ policy, keeping its stance and policy rate unchanged as expected. The central bank successfully engineered a fine balance in its communication between the need to remain cautious on growth while achieving price stability. The growth forecast was revised down by 60bps to 6.6% while inflation was revised up to 4.8% for 2024-25. We expect GDP growth to average at 6.4% in FY25, with some pick-up in momentum in the second half of the year.

The more substantive announcement in today’s policy came in terms of the support for liquidity conditions through a CRR cut of 50bps, which is estimated to add INR 1.1 lakh crore of liquidity to the system. Banking system liquidity has come under pressure in recent days on account of tax outflows, foreign outflows and higher currency leakage. We expect the RBI to continue providing more “durable” support for liquidity through various measures including longer-duration fine tuning operations, Open Market Operations, and sterilising its FX interventions.

A February rate cut remains on the table, especially if growth momentum fails to pick-up meaningfully over the coming weeks. That said, a rise in global uncertainty and pressure on the rupee or domestic inflation could nudge the RBI to delay any rate cuts to the April policy – preferring prudence and patience over pre-emptive action.

6th December 2024: The luxury housing market in India has steeply grown on the curve, driven by a paradigm shift in real estate offerings. From selling homes to merely selling homes, the developers have evolved to making living spaces that respond to the high-value buyer’s aspirations regarding comfort, functionality, and exclusivity in one location.

According to Mr. Gaurav Mavi, co-founder of BOP.in, the premium segment grew by a tremendous 37.8 per cent with prime hubs becoming metropolitan cities like Mumbai, Delhi NCR and Bangalore this year.

“Delhi NCR has emerged as the hub with nearly 5,855 luxury units-a growth of a remarkable 72% in recent years. The demand here is mainly on account of homes having all modern amenities like private pools, landscaped greenery, advanced security systems, and designs that are friendly to the environment. These features marry up with an entire pattern of change in buyer preference, which has moved from aesthetic appeal only to functionality that supports remote work and leisure activities all within one space.” Mr Mavi informed.

“It hugely influenced consumerism. People responded by looking for roomy houses that they can stay in considering their lifestyles, and as a result, luxury houses have almost gained 41 percent of the whole market share of the real estate business. Buyers have started targeting houses that not only feature high luxury but are exclusive and experience-oriented as well.” Mr. Mavi added.

“Experts expect that growth within this segment will be continuous through the market and expects strong support from an enlarged economy, increased urbanisation rates, and increased rates of high-net-worth Indians. The momentum would pave an era of transformation of the Indian realty segment for which luxury homes shall equate with aspirational lifestyle. Developers are going to focus on lifestyle-centric innovations along with architectural finesse in their luxury housing projects so that the luxury housing market keeps up the good work and maintains its benchmarks for the next few years.” Mr. Mavi concluded.

Repo Rate Unchanged at 6.5%: Real Estate Sector shared its views

The Reserve Bank of India (RBI), in its Monetary Policy Committee (MPC) meeting, announced that the repo rate will remain steady at 6.5%, as revealed by Governor Shaktikanta Das on Friday, December 6, 2024. This marks the 11th consecutive instance where the repo rate has been left unchanged. Additionally, the RBI has reduced the cash reserve ratio (CRR) by 50 basis points, bringing it down to 4%. The real estate sector has also expressed its views on these decisions.

Manoj Gaur, CMD of Gaurs Group and Chairman of CREDAI National

We once again applaud the RBI move to keep the repo rate unchanged. Given that retail inflation climbed to 6.21% in October, surpassing the RBI’s target range for the first time in a year, the decision by MPC to maintain the status quo on the repo rate is a welcome move. The move showcases the central bank’s commitment to bolster growth, which ultimately will also benefit the real estate sector. The sector is doing good all over the country and this move will definitely keep the bull run continue in real estate.

Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd

The Apex Bank’s decision to maintain the repo rate at 6.5% reflects a balanced and prudent approach to sustaining economic stability while fostering growth. This continuity provides a stable environment for the real estate sector, enabling developers to plan with confidence and homebuyers to benefit from favorable borrowing costs.

However, a rate cut in the future could infuse much-needed liquidity into the real estate sector, accelerating growth and enhancing accessibility for buyers. As India continues to experience robust economic activity, this stable monetary stance will act as a catalyst for long-term growth and investment across industries.”

Amit Modi, Director County Group

The decision to keep the repo rate unchanged by RBI will help the real estate sector continue with its upward trajectory. Despite some inflationary concerns, the current move speaks of India’s resilient growth and resurgent economy. Further, a 50 bps cut in CRR, also announced by RBI, will free up Rs 1.16 lakh crore liquidity for the banks and increase the money supply. It will boost the country’s growth, enabling the real estate sector to scale new heights.

Sandeep Chhillar, Founder and Chairman of Landmark Group

Keeping the repo rate unchanged at 6.5 percent doesn’t come as a surprise. However, the reduction in the existing repo rate would have been a great push for fence-sitters planning to take loans anticipating lower EMIs. The housing segment is witnessing exceptional growth numbers across cities, especially for the luxury housing segment. Keeping in mind the high demand and strengthened market sentiments, the realty sector is likely to sustain high growth momentum for the coming year.”

Mohit Kalia, Vice President (Sales) Raheja Developers

The RBI’s decision to keep the repo rate unchanged at 6.5% is once again a remarkable step for the sector. This stability is important as it affects consumers’ purchasing power and equally affects the sector’s growth. Also, it shows the government is considerate of buyers’ sentiments and expectations and supports the sector’s overall growth, significantly contributing to India’s GDP and future growth prospects. Thus, the sector shall once again reap its benefits.

Sanjeev Arora, Director 360 Realtors

By keeping the repo rate steady at 6.50% for one more time, the RBI has once again provided relief to both homebuyers and developers. The real estate sector continues to thrive, with growing interest in mid-range, premium, and luxury housing segments. This positive move is expected to maintain the sector’s upward momentum, benefiting all stakeholders involved.

Prateek Tiwari, Managing Director, Prateek Group

Keeping the inflation in view, the RBI has maintained the repo rate at 6.5% for the 11th consecutive time. The decision fosters stability amid the rise in housing demands. Besides, less volatility in the loan rates would instil greater confidence in the buyers and developers, welcoming long-term growth. We remain optimistic that this continued support will propel the rising demand in the real estate market, leading to lower rate cut in the future.”

Kushagra Ansal, Director Ansal Housing

The RBI’s decision to maintain the repo rate at 6.5% is a commendable move for the real estate sector. With the economy demonstrating strong performance, supported by robust GDP growth and controlled inflation, the sector is poised for continued success.

Rajjath Goel, Managing Director, MRG Group

The RBI’s decision to hold the repo rate at 6.5% is a significant enabler for the real estate sector. Stable borrowing costs bolster buyer confidence in high-value investments, especially in emerging luxury hubs like Gurugram. This move supports a sustainable growth trajectory for developers, encouraging innovation and premium offerings tailored to the evolving aspirations of discerning clients.

Saurab Saharan, the Group Managing Director of HCBS Developments

RBI’s decision to maintain the repo rate at 6.5% is expected to bring favorable growth to the housing market. Despite rising housing expenses, unchanged home loan rates provide relief to potential home buyers. As a result, stable interest rates benefit both buyers and developers, boosting confidence and investment in the sector. The RBI’s decision is poised to encourage the launch of new projects and support development in emerging areas of interest.”

Uddhav Poddar, CMD, Bhumika Group

While the RBI’s decision to maintain the status quo shows stability, the real estate industry would definitely benefit from a rate cut as the repo rate influences housing affordability and loan repayment terms, which is directly connected to the real estate sectors momentum.

Yash Miglani, MD of Migsun Group

The real estate sector continues to exhibit positive growth. Consumption is increasing, and more people are investing in the mid, premium, and luxury residential segments not just in metro cities but also in Tier 2 and Tier 3 cities. Developers, on their part, have accelerated the pace of new launches, as reflected in reports from recent quarters. India is firmly on the path of progress, and the Reserve Bank of India’s decision to keep the repo rate unchanged will further motivate the sector. This move will also provide relief to borrowers by ensuring that their EMIs do not increase”.

Mr. Sanchit Bhutani, MD, Group 108

The RBI’s move to maintain the repo rates reflects a thoughtful approach to balancing inflation control with economic growth, a key factor for the real estate sector. Keeping the SDF and MSF rates unchanged reinforces market stability, while the FY25 inflation forecast of 4.5% signals the central bank’s positive outlook. However, the surge in metal prices could pose inflationary challenges. This stable monetary environment is expected to boost growth in commercial and retail real estate. We are confident that this consistency will sustain demand in overall sectoral growth.”

Ambika Saxena, Director, Corporate Communications, Bayside Corporations

The RBI’s decision to keep the repo rate unchanged at 6.5% is a welcome move for the real estate sector. Stability in borrowing costs ensures continued momentum in both residential and commercial segments, particularly as homebuyers and developers alike look for predictability amidst evolving market dynamics. This policy stance will further boost confidence, encouraging long-term investments in real estate

Neeraj Sharma, MD, Escon Infra Realtor

By holding the repo rate steady, the RBI has provided a predictable framework for borrowing costs, which is crucial for financial stability and market confidence. This decision is particularly significant for the real estate sector, as it keeps home loan rates competitive, making housing more accessible for end-users and driving demand in the residential segment. Additionally, the stability in rates supports developers in managing project financing efficiently, encouraging timely project completions and new launches. Such a balanced approach strengthens the sector’s ability to cater to India’s growing housing needs while contributing to the broader economic growth trajectory.

Harsh Gupta, CEO of Sundream Group

The RBI’s decision to keep the repo rate steady at 6.5% provides a much-needed stability to the real estate market. This consistency ensures home loan interest rates remain manageable, which is crucial for sustaining demand in the residential segment. Furthermore, the neutral policy stance signals confidence in the current economic trajectory, offering a boost to investor sentiment in commercial real estate. Developers can now focus on launching projects without the immediate concern of fluctuating borrowing costs, potentially accelerating project pipelines and enhancing market supply.

SKA Group Director Sanjay Sharma

RBI has once again met buyers’ expectations by keeping the repo rate stable at 6.50% for nearly two years. After the last Monetary Policy Committee meeting, we were expecting a rate cut based on the RBI’s stance. However, this decision will not only keep interest rates stable for potential buyers but also maintain public confidence. This is a welcome move by the RBI, and we hope that the rapid growth in the real estate sector will continue. This decision will benefit both buyers and developers. Additionally, the 50 basis points reduction in the CRR will increase liquidity in the market, which, in turn, will indirectly benefit the real estate sector.”

Ravindra Gandhi, Managing Director of Tirasya Estates

The RBI’s move to maintain the repo rate and adopt a neutral stance brings positive news for the real estate sector, offering advantages for both homebuyers and developers. This decision aligns with a period of revitalization in the industry, marked by regional growth and improved offerings. It reflects economic stability in India, even in the face of global uncertainties. Additionally, the unchanged rate opens the possibility for future reductions, inspiring greater confidence.

Ajendra Singh, Vice President of Sales and Marketing at Spectrum Metro

RBI has kept the repo rate unchanged at 6.5% for the 11th consecutive time. The central agency has made this decision considering inflation. However, in our opinion, the agency could have considered revising the rate by up to 25 basis points, as it would have further supported the economy. The Indian economy is expected to grow at a rate of 7% in FY25, making it one of the fastest-growing markets at a time when global growth is mostly sluggish. A reduction in CRR will bring liquidity into the market. This is bound to lead to a market rally.

Ashwani Kumar, Pyramid Infratech

The sector has long experienced a surge in demand for high-end properties. Keeping the repo rate unchanged at 6.5% will further boost the sector’s growth to new heights, strengthening both commercial and residential segments and opening the gateway for developers to launch projects in emerging areas of interest. The decision also shows the government’s consideration of buyers’ sentiments, paving the way for increased sales. We look forward to sustained buyer interest in the sector and enable bankers and financial institutions to come up with lucrative offers.”

Piyush Kansal, Executive Director of Royale Estate Group –

As widely anticipated, the RBI decided to keep the repo rate unchanged for the 11th consecutive time. This stability continues to create supportive growth for both buyers and developers, encouraging greater investments. The decision is also in line with the sector’s growth in tier 2 and 3 cities. Moreover, as property prices have steadily increased, the unchanged interest rates will not only facilitate easier access to financing but also inspire developers to launch new projects, ultimately fostering growth and innovation in the sector.

Manit Sethi, Director, Excentia Infra

The real estate sector has always contributed to the country’s economy. Though we were expecting the rate cut of 25 basis points, but keeping the repo rate unchanged for the 11th time will prove favourable amidst India’s resilient economic growth. Particularly, as luxury housing gains momentum in tier 2 cities, this steadiness will stabilize the loan rates and sustain buyers’ interest in the sector. On the other hand, the decision to cut CRR by 50bp will facilitate liquidity in the market, further strengthening the sector’s growth. Additionally, it is a huge step towards easing the financial strain on prospective buyers. Given real estate’s sensitivity to price fluctuations, the RBI’s steady approach is expected to provide a valuable boost to the industry.

Salil Kumar, Director – Marketing & Business Management, CRC Group

The RBI’s decision to keep the repo rate unchanged aligns with the sector’s growth. As the sector sees rising demand in the residential and commercial segment, the decision will encourage buyers to proceed with investing in properties without fearing rising loan interest rates. The decision also coincides with the growth of luxury housing, providing much-needed relief to potential buyers. We believe this stability will likely enhance buyer interest in luxury real estate, motivating developers to create more projects.

Prakash Mehta, the Chairman and Managing Director of Ocus Group,

For the 11th consecutive time, RBI has maintained the sector’s confidence by keeping the repo rate unchanged. In addition, the decision to cut CRR by 50bps has instilled greater confidence in the commercial sector. The lower interest rates will bring more prospective investors and businesses to the sector. This decision not only alleviates financial concerns but also demonstrates the authorities’ commitment to controlling inflation. We commend this prudent move and its positive impact on the market, which will continue creating attractive investment opportunities for buyers across the sector.

Gurpal Singh Chawla, MD, TREVOC

We welcome the RBI’s decision to maintain the repo rate at 6.5% for the eleventh consecutive time. While this is the highest rate since April 2016, it highlights a commitment to stability, especially given inflationary pressures that exceeded expectations in October. This stability is crucial for fostering the country’s economic growth and benefitting the real estate sector. Looking ahead, we remain optimistic about a potential rate cut in February next year as the RBI’s stance on maintaining the status quo approaches the two-year mark. While it will make home loans cheaper for home buyers, lending rates for developers, too, would come down. Even a minor rate cut of 25 basis points will act as a major psychological booster for real estate

Dr. Gautam Kanodia, Founder of KREEVA and Kanodia Group

The RBI’s decision to keep the repo rate unchanged will bode well for the realty sector as it will continue facilitating stability in the realty market. For home buyers, it will enable sustained affordability in home loans, further propelling the housing demand across segments. The decision of unchanged repo rate is a significant step towards the economic balance propelling the long-term growth in the real estate market

Prateek Mittal, ED, Sushma Group

The RBI’s decision to keep the repo rate unchanged was largely on the expected lines. As tier 2 and 3 cities witness an upsurge in property sales, the move is in sound with the real sector’s growth. Meanwhile, a 50bps cut in CRR will foster liquidity in the market and enhance the sector’s performance. As loan rates remain favorable, we look forward to the authorities continuing this momentum in the coming announcements

Pawan Sharma, MD, Trisol RED

The RBI’s steadfast approach to maintaining the repo rate at 6.5% reflects its commitment to ensuring economic stability amidst global uncertainties. This consistent policy not only helps in mitigating inflationary pressures but also fosters a conducive environment for sustained economic growth. A stable interest rate environment encourages confidence among investors, promotes steady inflows of capital, and provides the real estate sector with the predictability required for long-term planning. This decision will continue to support housing affordability and drive the momentum of infrastructural and urban development across the country.”

Nandni Garg, Director, Rajdarbar Ventures

The neutral stance adopted by the RBI sends a strong signal of resilience and balance in monetary policy. By keeping the repo rate unchanged, the central bank ensures that borrowing costs remain stable, which is a significant relief for homebuyers. This continuity supports sustained growth in the real estate sector by enabling developers to plan their projects with clarity, while aligning consumer aspirations with affordable financing options. For homebuyers, stable home loan interest rates mean enhanced affordability and the confidence to invest in their dream homes, further fueling demand in the residential market.”

6th December, 2024: build3, the go-to community for impact startups which are building for profit AND purpose, today announced that it is accepting applications for the 4th cohort of its flagship Impact Accelerator. The program is designed for early-stage startups, and its ongoing third cohort comprises 50 founders shortlisted from over 650 applicants.

The next cohort will begin on February 17, and kick off with a 1-week bootcamp in Goa. Applications will be reviewed on a rolling basis. build3 will offer financial assistance of INR 25 lakhs to select startups at the end of the 10-week program, with opportunities for further funding through the extended community.

Cohort 2 of the accelerator was concluded in August where build3’s financial assistance of INR 25 lakh was extended to three early-stage impact startups. The extensive pan-sectoral investment process will again come under the limelight during the next cohort, applications for which can be found on build3’s website (https://www.build3.org/).

build3’s long-term vision or BHAG (Big Hairy Audacious Goal) is to empower 100k founders creating startups benefiting the mind, body, and earth, go from -1 to 1. The upcoming edition of the accelerator will continue to support early-stage impact ventures aligned with UN Sustainable Development Goals (SDGs) and Environmental, Social, and Governance (ESG) regulations.

Mr. Varun Chawla, co-founder of build3, said, “The program has helped us gather critical insights on the contemporary school of thought among upcoming Indian impact founders and we made headway on our goal of supporting 100k impact founders. We have a very clear objective of what we want to witness from the founders at Cohort 4, and we are looking forward to meeting people who are interested in building startups for profit AND purpose.”

Aspirants will have to fill a detailed application, followed by an online interaction, if shortlisted. The process is designed to identify suitable founders committed to their ideas and aligned with build3’s long-term vision.

Over the 10 weeks of the program, entrepreneurs will be upskilled through workshops and keynotes on market research, GTM, product/service building, storytelling, organisational behaviour structuring, fundraising, accounting, and compliance. The program will also feature successful subject matter experts, who will deliver critical mentorship to the next generation of founders.

Participants will enjoy invaluable networking opportunities, access to SaaS tools and free credits from multiple tech service providers. They will also be part of the larger build3 community comprising 300+ creators, mentors and investors, significantly bolstering their chances of success

06th December 2024: Gmmco, a trusted partner of Caterpillar in India, has launched Gmmco CAT Kondattam, a transformative initiative aimed to empower tier-2 cities with Caterpillar’s world-class machinery, equipment, and advanced solutions. The inaugural event, held in Salem, brought together customers, industry leaders, and experts to experience the unmatched capabilities of CAT equipment designed for infrastructure and mining industries.
The Gmmco CAT Kondattam roadshow represents a shared commitment by Gmmco and Caterpillar to support India’s industrial landscape by making cutting-edge technology accessible to individual and businesses in high-potential Tier-2 cities. Showcasing a range of Caterpillar’s machinery and solutions, the mega roadshow will be open for customers in prominent cities across Salem district until Dec 12th, 2024.

Chandrashekar V, Managing Director & CEO, Gmmco, said, “With seamless connectivity to Tamil Nadu, Karnataka, and Kerala, Salem city is a key hub for construction equipment business and also known for its enterprising customers and experienced contractor’s base. The core supplier of blue metal for road constructions and with major upcoming projects, the city is poised for significant growth and a potential market for machinery business in infrastructure and mining sector. Salem is an ideal location to bring in the Gmmco CAT Kondattam exhibition to empower local businesses with Caterpillar’s advanced machinery, equipment and solutions”.

Caterpillar Spokesperson, said, “Salem represents the dynamism and potential of Tier-2 cities in India’s infrastructure and mining sectors. Through initiatives like Gmmco CAT Kondattam, Caterpillar is committed to delivering advanced machinery and solutions that address local industry needs, enabling customers to achieve greater efficiency and profitability. Our partnership with Gmmco ensures that we continue to support regional growth while strengthening our footprint in key markets like Salem.

Rahul Shorey, Vice President, Construction, Gmmco Limited, added, “Salem’s potential in infrastructure and mining business aligns perfectly with our vision of empowering businesses with innovative machinery and solutions. Through Gmmco CAT Kondattam initiative, we bring Caterpillar’s advanced machinery, equipment and solutions to empower local businesses to benefit from durability, and cost-effectiveness.

Key Highlights of CAT Kondattam in Salem:
· Mega CAT Exhibition: Displayed a comprehensive range of Caterpillar machinery tailored to local industries, including live demonstrations of CAT Backhoe Loaders and Excavators.
· Simplified Finance Solutions: Provided insights into innovative financial packages, machine rebuilds, and Scheduled Oil Sampling (SoS), enhancing customer convenience.
· Customized Offers: Tailored packages addressing Salem’s unique business ecosystem, fostering growth and operational efficiency.

The construction equipment industry is growing at 10-15% annually, with India set to become the world’s third-largest market. By establishing robust infrastructure and tailored solutions in high-potential Tier-2 cities like Salem, Gmmco and Caterpillar reaffirm their commitment to transforming India’s industrial landscape. To strengthen the brands commitment to the region and as part of the expansion plans, Gmmco is in the process of establishing a new upgraded 3S Facility in Salem, which will offer parts and service support directly at the customers’ doorsteps. This facility will also stock Caterpillar equipment locally, ensuring timely availability and efficient operations.

December 6th 2024: – In a significant step toward fostering accountability and openness, Atlys, a visa processing platform, today announced the release of its Customer Transparency Report. This initiative offers an in-depth look at the company’s operations, fee structures, and customer support performance.

The report provides a detailed look at several key aspects of Atlys’ operations. It begins with an expenditure breakdown, offering insights into how funds are allocated across marketing, customer support, platform enhancements, and operational costs. The report also includes a comprehensive comparison of government visa fees versus Atlys’ service charges, offering clarity on minor variations due to exchange rates or processing fees. It features customer support metrics, such as real-time data on issue resolution times and assistance during travel emergencies, reflecting Atlys’ commitment to responsive service. A section titled “1-star review and what we’ve fixed” candidly addresses the challenges faced by the company, highlighting customer feedback and the actionable steps taken to improve services.

Additionally, the report includes unfiltered customer success stories, emphasizing Atlys’ role in streamlining visa applications for millions of travellers and reinforcing the company’s dedication to delivering a seamless and transparent experience.

“At Atlys, transparency is more than a value, it’s the foundation of trust,” said Mohak Nahta, Founder & CEO of Atlys. “This report is our way of holding ourselves accountable while empowering travelers with the information they need to make informed decisions. From disclosing how we allocate every rupee to owning up to our mistakes and improving, this initiative reflects our commitment to ethical practices and customer-first solutions. We believe this level of openness will inspire confidence and set a new standard in the travel and technology sector.”

With the launch of the report, Atlys not only aims to enhance traveler confidence but also inspire similar practices among the travel ecosystem, fostering a culture of openness and trust. The full Transparency Report is now live on the Atlys website, along with guides, FAQs, and video resources to help customers understand its operations better.

December 6, 2024: Samsung, India’s largest consumer electronics brand, has announced the winners of the ninth edition of Samsung E.D.G.E. (Empowering Dreams Gaining Excellence), its annual flagship campus programme that offers thousands of brilliant young minds opportunities to showcase their business acumen, strategic thinking, and leadership skills.

This year, over 15,000 students from 40 premier campuses, including top-tier B-schools, engineering colleges, and design schools participated. Some of the country’s brightest students displayed their skills and engaged in insightful exchanges, embodying the spirit of innovation and collaboration. The finale event held in Gurugram, was attended by JB Park, President and CEO, Samsung Southwest Asia and other senior leaders of Samsung India.

“At Samsung, innovation is the cornerstone of everything we do. Through the years, Samsung E.D.G.E. has continually empowered students, offering a platform to showcase their creative solutions for enhanced consumer experience. This year, we were thrilled by the overwhelming response and participation from even more students and campuses, which has been truly inspiring. It was exciting to witness the spirit of innovation and problem-solving thriving in these young minds,” said JB Park, President and CEO, Samsung Southwest Asia.

Team RSP from XLRI Jamshedpur emerged as the national winner. Its innovative strategy to boost consumer engagement impressed the jury. RSP’s idea included the use of brand mascots, geo-targeting, Gen MZ hotspot tagging, and mall activations — all tailored to build deeper consumer connections and drive engagement through innovative, localized, and personalized experiences. The team – Pranjali Bhatia, Siddhartha Dwivedi, Rohan Bhardwaj secured a cash prize of INR 450,000, Samsung’s flagship smartphones and pre-placement offers from Samsung.

Team Chevy67 from XLRI, Jamshedpur claimed the first runners-up position with a strategy for the smart home market. The proposed idea focused on driving adoption and creating an interconnected, future-ready ecosystem that streamlines the user experience globally by guiding them in their purchase journey. The team — Apurvaa Mittal, Chayan Banerjee, Shubham Tripathy were awarded a cash prize of INR 300,000.

Team Pheonix from the Indian Institute of Foreign Trade, Calcutta finished as the second runner-up. Their forward-thinking ideas involving ‘Spin to Win’ Smart QR Codes, Infinite Experiences with Sustainable Design, aimed to elevate the brand engagement through experiential retail and sustainability. The core idea was about leveraging innovative marketing and product strategies to create deeper connections with consumers, while ensuring a future-ready experience for a global audience. The team—Varun Goyal, Umang Jain, and Saksham Jain—was awarded INR 150,000.

This year, while 5713 teams registered for Samsung E.D.G.E., 1432 were selected for the Campus Round, where they constructed executive case summaries through research and ideation. Subsequently, 59 teams advanced to the regional round, submitting, and presenting detailed solutions. Only the top 8 teams from this group progressed to the National round, receiving one-on-one mentorship from Samsung leaders before presenting their final ideas.

Since its inception in 2016, Samsung E.D.G.E. has grown into a first-of-its-kind campus programme in India that allows the country’s finest talent to come forward and exchange meaningful insights to get a head-start in their careers.

6th December 2024: The Society of Indian Automobile Manufacturers (SIAM) organised the SIAM Automotive Sourcing Conclave 2024, themed “Towards Building a Resilient Supply Chain”. The conclave emphasised the importance of fostering resilient supply chains to support the automotive industry’s evolution, ensuring sustained growth and alignment with the nation’s self-reliance goals. The conclave witnessed the participation of senior government officials, automotive industry leaders, and experts from the automobile supply chain, who came together to discuss strategies for creating robust and future-ready supply chains.

The conference included three sessions: “Strengthening the Supply Chain Ecosystem for Electrified Vehicles,” “Preparedness for Futuristic Technologies,” and “Balancing Regulatory Compliance vis-a-vis Supply Chain Resilience”. These sessions explored innovative solutions to enhance supply chains for EVs, adopt emerging technologies in sourcing, and harmonise regulatory compliance with operational resilience for a competitive edge.

On this occasion, Dr. Hanif Qureshi, Additional Secretary, Ministry of Heavy Industries, Government of India, said, “The automotive industry is a key driver of India’s economy and Aatmanirbhar Bharat is our collective mission. With the Ministry of Heavy Industries advancing local production, R&D, and critical component investment, the supply chain is rapidly evolving. Schemes like PM eDRIVE are boosting local production and R&D, reducing import dependency, and strengthening the supply chain. In FAME1 & FAME2, we had 18 components in our list, but now after discussion, we will shortly circulate a new list with 8 to 9 parts, as others are now being manufactured in India. As of March 2024, INR 18,000 crore has been invested in the localisation schemes.”

Reaffirming the Government’s commitment to fostering industry growth and innovation, Mr. Vimal Anand, Joint Secretary, Department of Commerce, Ministry of Commerce and Industry, Government of India, said, “The automobile industry is a cornerstone of India’s economy, contributing significantly to the nation’s GDP. The government recognises the importance of strengthening domestic manufacturing and fostering robust supply chains, especially those involving MSMEs and local vendors in Tier 2 & 3. The Ministry of Commerce is committed to working closely with the auto industry to address specific concerns at any level of the supply chain or to adapt to new regulatory requirements. An increase in localisation content can only be driven if we have home-grown companies developing cutting-edge technologies.”

Mr. Vinod Aggarwal, Immediate Past President, SIAM and Managing Director & CEO, Volvo Eicher Commercial Vehicles Ltd., said, “In collaboration with ACMA, SIAM has actively championed Aatmanirbhar Bharat by advancing deep localisation and systematically reducing import reliance. SIAM members are committed to reducing imports to the tune of 25,000 crore in a period of 5 years. The industry has submitted a list of about 50 critical components to be sourced locally. The government’s PLI schemes have been pivotal in strengthening India’s capacity and capabilities and we are grateful for their steadfast support which is essential to remain competitive globally and resilient in the face of global uncertainties.”

Highlighting the achievements of the auto component industry, Ms. Shradha Suri Marwah, President, ACMA and Chairperson & Managing Director, Subros Ltd., said, “Despite past challenges, the component industry performed incredibly well in FY2024. Our sector achieved a turnover of 74 billion of which domestic sales to OEMs have been 63 billion. The progress in the component industry reflects the collective effort of OEMs, suppliers, and all the stakeholders. ACMA’s 1,400 globally aligned plants and collaborative efforts with SIAM and the government are driving supply chain excellence. Going ahead, we have committed to partnering for another round of study to take stock of the extent of localisation, especially in the context of rising electronic content, and discuss it across the value chain.”

Speaking about the automotive industry’s remarkable progress, Mr. Sunil Kakkar, Chairman SIAM Aatmanirbhar Bharat Sourcing Group and Senior Executive Director – Corporate Planning, Maruti Suzuki India Ltd., said, “Despite challenges like the pandemic and global uncertainties, India’s automotive industry has flourished, contributing 35% to manufacturing GDP and producing 2.8 crore vehicles annually. Under the Make in India initiative, the auto industry achieved a net import reduction of 7000 crore surpassing the initial target. With a focus on localisation and government support, OEMs and component manufacturers can collectively build a resilient supply chain that propels us toward a Viksit Bharat by 2047.”

Mr. Sachin Kulkarni, Co-Chairman SIAM Aatmanirbhar Bharat Sourcing Group and Executive Director – Corporate Procurement & Member of the Board, Skoda Auto Volkswagen India Pvt Ltd., said, “The joint efforts of SIAM, ACMA, the government of India and stakeholders have helped Indian auto industry commit to localisation and build a resilient supply chain. The industry is also deeply focused on environmental responsibility with SIAM and ACMA working tirelessly to meet the government’s quality standards and reduce oil imports by developing various powertrains based on alternative fuels.”

The conference included esteemed industry leaders and experts, including Mr. Niranjan C, Chief Operations Officer, Amararaja Advanced Cell Technologies; Mr. Hirendra B Divgi, Executive Director, Divgi Torq Transfer Systems Ltd; Mr. Vishwas Deshpande, Director – Purchase, JSW MG Motors; Mr. Badrish Sinha, Co-Chairman, SIAM Aatmanirbhar Bharat Sourcing Group and Vice President-Purchasing, Volvo Eicher Commercial Vehicles Ltd.; and Mr. Krishan Kohli, President & CEO – Light Weighting Business & Nano Technologies, Kalyani Strategic Management Services Ltd, among others.

The esteemed speakers provided invaluable perspectives on enhancing supply chain sustainability, embracing innovation, and streamlining processes to drive efficiency and global competitiveness. The SIAM Automotive Sourcing Conclave 2024 reinforced the commitment of stakeholders to collaborate and develop a resilient, innovative, and sustainable supply chain ecosystem, pivotal to the growth of India’s automotive industry.

06th December 2024: Panasonic Life Solutions India (PLSIND) – a leading diversified technology company, has unveiled its ‘Small Actions, Big Impact’ campaign as part of its Panasonic GREEN IMPACT initiative to inspire collective action for a greener planet. Featuring renowned personalities – Soha Ali Khan, Bhumi Pednekar, Sanjana Sanghi, and Sharvari Wagh, among other influencers, the campaign reinforces Panasonic’s environmental goals, including achieving net-zero in-house emissions by 2030 and reducing CO2 emissions by 110 million tons. By 2050, the Panasonic Group aims to reduce more than 300 million tons of CO2 emissions – equivalent to nearly 1% of current global emissions. It emphasizes a holistic approach to sustainability, addressing every stage of a product’s lifecycle, from design and manufacturing to recycling.

Dhiraj Sharma, Head, Marcom & Brand, Panasonic Marketing India, PLSIND said, “Tackling environmental challenge is not only about grand gestures, but consistent, mindful actions. As a purpose-driven company, Panasonic’s new campaign ‘Small Actions, Big Impact’ resonates deeply with the values of Millennials and Gen Z, who are increasingly prioritizing brands that demonstrate a genuine commitment to environmental well-being and social responsibility. Our innovative products and smart technology solutions empower individuals to lead better, more sustainable lives while contributing to a greener, more equitable future. As part of Panasonic GREEN IMPACT, the collaboration with committed eco-conscious personalities, including Soha, Bhumi, Sharvari and Sanjana will amplify the campaign’s message, connecting with younger audiences and making sustainability relatable and aspirational. At Panasonic, we are not just about providing advanced solutions—we are about making a meaningful impact on people, society, and the planet.”

Through this initiative, Panasonic reaffirms its dedication to creating a better life and a more sustainable global environment, proving that corporate responsibility and youth engagement can be powerful catalysts for meaningful change. PLSIND has consistently been making efforts to build a more sustainable and green future with campaigns such as PanasonicForTheWorld that intends to raise awareness about all the pillars of ESG and transparently share details of the efforts under each pillar; and #DiwaliWaliSafai which aims at encouraging safe e-waste disposal. Additionally, PLSIND’s Harit Umang campaign aims at educating the society about green practices around e-waste disposal, conserving biodiversity and energy through active engagements with educational institutions in line with the GreenE initiative and directive of Ministry of Electronics and Information Technology (MeITY). Collectively, group companies of Panasonic in India have planted approximately five lakh trees contributing towards green cover and restoring biodiversity in Daulatpur area of Delhi and Jawhar area of Maharashtra, and are in the process of reaching more areas to make a deeper impact. Further, Panasonic in India has made efforts to utilize solar energy in its factories and also has distributed solar lanterns to off-grid communities around their factory area.

December 6th, 2024 – Stroke, a medical condition often associated with older adults, is now alarmingly on the rise among Karnataka’s young population. Driven by factors such as poor lifestyle choices, chronic stress, and environmental influences, the state is witnessing an increasing number of stroke cases in individuals as young as their late teens. These strokes frequently lead to severe neurological deficits, forcing survivors to confront physical, emotional, and cognitive challenges. Early intervention and rehabilitation are proving essential in addressing this growing epidemic, as demonstrated by the remarkable recovery of a 19-year-old boy.

The young second-year engineering student’s life changed dramatically during a routine gym session. While lifting weights, he suffered a stroke, leaving him with locked-in syndrome—a rare neurological condition characterized by near-total paralysis, where communication is limited to eye movements. For his family, the incident was devastating, as their once-active son was suddenly left immobile and dependent.

Dr. Dheeraj Adiga, a PM&R Specialist at HCAH Recovery and Rehabilitation Center, Bangalore emphasized the critical role of early rehabilitation: “The golden period of recovery is vital for stroke patients, as it leverages the brain’s neuroplasticity to rebuild and relearn lost functions. Our individualized approach and tailored solutions, particularly for young adults, have proven effective. In this case, we successfully removed the tracheostomy in a record time of just 50 days—something many hospitals had deemed impossible. This young patient’s remarkable recovery underscores the impact of timely intervention and comprehensive care.”

Stroke survivors frequently experience various neurological deficits, including motor impairments like paralysis (hemiplegia), weakness (hemiparesis), spasticity, ataxia, and dysphagia, as well as sensory deficits such as numbness, tingling, loss of proprioception, and visual impairments. These challenges can significantly hinder their ability to perform daily tasks and maintain independence.

Dr. Gaurav Thukral, Co-founder & COO of HCAH Recovery and Rehabilitation Center, stated, “This case was one of the most complex we’ve encountered, featuring rare extrapyramidal symptoms and hyperextension of limbs that severely hindered the patient’s ability to stand, complicating stroke recovery. Our multidisciplinary team, led by Physical Medicine and Rehabilitation (PM&R) specialists, effectively navigated these challenges using innovative medications aimed at restoring crucial brain hormones, resulting in transformative outcomes. This highlights our commitment to expertise, innovation, and a patient-centred approach. At HCAH, we strive not only to restore mobility but also to instil hope and enhance the quality of life for our patients. In this rare case of bleeding in the hind brain, we achieved what seemed impossible: facilitating one of the fastest recoveries by helping the young man regain mobility and independence within weeks.”

Vivek Srivastava, Founder and CEO of HCAH India, expressed his commitment to purposefulness in healthcare, stating, “At HCAH, we are dedicated to reducing avoidable disabilities and ensuring the fastest recovery for our patients. Our team’s unwavering dedication and innovative approaches allow us to achieve remarkable outcomes that many thought impossible. I am incredibly proud of our team, whose expertise and compassion drive our mission to transform lives and restore hope.“

The first 90 days following a stroke, often called the “golden period,” are crucial for recovery. During this time, the brain’s neuroplasticity—the capacity to reorganize and create new neural pathways—is at its peak, providing patients with the best opportunity to regain lost functions. At HCAH, the multidisciplinary team (MDT) took a holistic approach to the young man’s rehabilitation, addressing both his physical and emotional needs. The treatments focused on cognitive, sensory, swallowing, speech, motor recovery, and mobility, ensuring a comprehensive strategy that maximized his chances for a successful recovery.

The young man’s mother expressed profound gratitude for his son’s recovery, stating, “When my son suffered a stroke, our world fell apart. Watching him struggle to move or speak was heartbreaking. However, the team at HCAH restored our hope. They didn’t just treat him; they brought him back to life. Today, he can walk with support, eat orally, and produce understandable words. Seeing him take his first steps again has been a miracle, and we will forever be grateful for their exceptional care and dedication.”

As Karnataka continues to grapple with the rising tide of strokes among its youth, centers like HCAH Recovery and Rehabilitation stand as beacons of hope, offering life-changing care and helping patients reclaim their independence and quality of life.