Zoho Making SLMs With Up to 20 Billion Parameters: CEO Sridhar Vembu

Zoho, the Software-as-a-Service (SaaS) giant, is developing smaller artificial intelligence (AI) models or better called as Small Language Models (SLMs). According to founder-CEO Sridhar Vembu, these models are based on 7 billion to 20 billion parameters. The Chennai-based company has found that smaller models are better suited for specific domain problems. Additionally, Zoho aims to have its own graphics processing units (GPUs) infrastructure, which is more cost-effective in the long term.

"We are working on models that are based on 7 billion to 20 billion parameters…we are not doing the 500 parameter models as of now. We also want to have our very own graphics processing units (GPUs) infrastructure as that is cheaper in the long term,” Vembu said at CNBC TV18-Moneycontrol's Global AI Conclave.

Notably, Zoho integrates a range of language models (LLMs) within its workflows. These LLMs are used to improve AI output by infusing them with customer and industry-specific data. Zoho essentially plays one LLM against another to achieve better results.

Zoho takes full advantage of Small(er) Language Models (SLMs) to control AI operating costs while maintaining high-quality outputs. By using smaller models with 7 billion to 20 billion parameters, Zoho aims to solve domain-specific problems for its customers.

SLMs like Llama, Mistral, Qwen, Gemma, or Phi3 are designed to be more efficient at focused tasks such as conversation, translation, summarization, and categorization. They offer tailored solutions that are not only cost-effective but also more accessible, allowing for a broader range of applications and innovations.

Zoho's Chief Evangelist, Raju Vegesna, emphasizes that the best AI implementation is when customers don't even notice they're using AI. In other words, the AI seamlessly enhances their experience without being intrusive.

Additionally, Zoho has revealed plans to develop its own extensive language model (LLM), similar to OpenAI's GPT model and Google's PaLM 2. Furthermore, the company is venturing into chipmaking and seeking incentives from the Indian government for this endeavor.

Intel Investing Over $28 Billion for Two New Chip Factories

In January 2022, Intel selected the Licking County portion of the New Albany International Business Park in Ohio as the location for its two state-of-the-art chip manufacturing plants, also known as fabs. Originally planning a $20 billion investment, Intel has now increased the amount to $28 billion. This significant investment aligns with the company's expansion strategy across the United States, including additional facilities in Arizona, New Mexico, and Oregon.

The project benefits from federal incentives under the CHIPS and Science Act, including grants and low-cost loans, as well as a 25% investment tax credit. Ohio state government is also providing substantial subsidies, including infrastructure improvements and income tax incentives based on the number of workers Intel hires.

Intel Ohio One concrete pour

As the largest single private-sector investment in Ohio history, the initial phase of the project is expected to create 3,000 Intel jobs, 7,000 construction jobs over the course of the build, and support tens of thousands of additional local long-term jobs across a broad ecosystem of suppliers and partners.

To support the development of the new site, Intel pledged an additional $100 million toward partnerships with educational institutions to build a pipeline of talent and bolster research programs in the region.

The under construction campus, dubbed as "Intel Ohio One", spans nearly 1,000 acres and consists of two state-of-the-art Factories. Construction work began in July 2022, with initial tasks focused on site preparation, including leveling the land and excavating utility trenches. The complex's foundation was poured after months of underground utility work. The project is on track, and the campus is expected to be completed between 2026 and 2027.

Intel plans to hire 3,000 individuals in New Albany and create around 7,000 construction positions during the development phase. Additionally, tens of thousands of job opportunities are expected through collaboration with suppliers and local businesses.

Ohio One will produce advanced semiconductors, contributing to the growing demand for cutting-edge chips worldwide.

Intel Ohio Fab rendering

Intel Ohio Fab rendering

Intel Ohio Fab rendering

Ambuja Cements achieves sustainable performance in Q1 FY’25

Operating EBITDA Rs. 1,280 Cr, PAT Rs. 790 Cr

Operating Cost improved by 3% YoY at Rs. 4,437 PMT

Cash & Cash Equivalent at Rs. 18,299 Cr

• Q1 Operating EBITDA at Rs. 807 PMT, EBITDA margin of 15.4%.
• Quarterly EPS (diluted) at Rs. 2.65.
• Taken lead in ESG, Net Zero commitment by 2050, near-term targets validated by SBTi, first of its kind in the sector.
• Added 275 Mn MT limestone reserves in Q1 FY’25.

Ambuja Cements, the cement and building materials flagship of the diversified Adani Group, has announced sustainable results for Q1 FY’25, supported by cost leadership, improved efficiencies and growth.

Mr. Ajay Kapur, Whole Time Director & CEO, Ambuja Cements, said, “We have delivered another sustainable performance and our focus on innovation, digitisation, customer satisfaction and ESG is at the heart of our success. Our persistent performance sets the tone for the rest of the financial year, as we expand our footprint and capacities across new geographies. Our continued improvement on cost brings visibility of achieving the targeted cost reduction of Rs. 530 PMT by FY’28. With the Penna transaction expected to be closed by Q2 FY’25, our capacity will go to 89 MTPA and well on track to achieve our 140 MTPA plan by FY’28.”

Operational Highlights

• Group synergies continue to facilitate cost reduction journey, complemented by increasing footprint and capacities.
• Green power share at 18.4%, will improve to ~31 % by FY’25 and 60% by FY’28, this will contribute to reduction in overall cost of power by 33%, boosting EBITDA.
• Higher linkage coal volume and improved coal volume from Gare Palma (captive coal mine), has contributed to 17% reduction in Kiln fuel cost (Consolidated) from Rs. 2.08 to 1.73 per ’000 Kcal.
• Integration of recently acquired Tuticorin GU and Penna Cement (under closing) will help to further improve market share, overall profitability and RoCE.

Financial Highlights (Consolidated)

• Higher volume along with improved operational parameters resulted in growth in all business parameters.
• EBITDA PMT @ Rs. 807, EBITDA Margin of 15.4%,
• Net worth increased by Rs. 8,620 Cr during quarter and stands at Rs. 59,465 Cr, company remains debt free & continues to maintain Crisil AAA (stable) / Crisil A1+ ratings.
• The Cash & Cash Equivalent stands at Rs. 18,299 Cr enables accelerated growth in future.
• For Ambuja (consolidated), business level working capital stands at 30 days, reflecting agility in unblocking the funds in inventory and receivables.

Progress on Ongoing Projects

Brownfield expansions at 14 sites for Clinker facility of 11 Mn T and Cement capacity of 23.4 Mn T is progressing well as per plan. Out of this 4 MTPA clinker line 3 at Bhatapara (Chhattisgarh) is expected by Q4 FY’25 and 6.4 MTPA grinding facility (Sankrail 2.4, Farakka 2.4 and Sindri 1.6 MTPA) is expected between Q3 & Q4 FY’25. In addition, pre-operative work for the 28 MTPA grinding facility and 22 MTPA Clinker facility is under progress.

ESG Updates

The Company has launched Digital BRSR (Business Responsibility and Sustainability Reporting) for financial year 2023-24 which is available on the Company’s website - https://www.ambujacement.com/ambuja4-BRSR/. The digital report enables quick overview and ease of information on Company’s ESG Performance in an interactive and interesting manner.

• With Green power projects on track, power cost will be optimised with 60% sourced from green power, EBITDA maximisation & reduction in CO2 footprint.
• Green cement @ >80% of product mix, exemplifying commitment to eco-friendly practices & CO2 footprint minimisation
• Ambuja and ACC created societal values for >4.6 million people by contributing to fields like healthcare, education, employment, and sustainable livelihoods.
• Achieved 11x water positivity (FY’24) for Ambuja Cement, establishing leadership in water governance.
• Reached an impressive 8x plastic negativity (FY’24) for Ambuja Cement through co-processing of plastic waste in cement kiln.
• Pledged to plant 8.3 million trees by 2030, (1.4 million trees planted till FY’24) in line with Adani Group's ambitious plan to plant 100 million trees.
• Ambuja and ACC put together used more than 21 million tonnes of waste derived resources in FY’24 embracing circular economy.

Branding

• Strategic placements of 'Mazbooti ki Misaal' advertisements aired during IPL 2024 and World Cup T20 reaching out to 250M+ audiences.
• Amplified digital presence on 15+ high traffic apps and websites to increase brand reach and awareness.
• Conducted 'Skill Building Workshops' across various domains for ~3700 contractors.

Outlook

Cement demand during FY’24 stood higher by 7 - 8% YoY at 422 MTPA and are likely to grow by 7 - 9 % in FY'25 to around 451 MTPA driven by strong correlation with GDP growth and rising demand from housing and infrastructure sectors. The Government aims to invest ~USD 3 trillion in infrastructure and housing development through the ongoing 'Housing for All' scheme, National Infrastructure plan, PM Gati Shakti National Master plan and others. An outlay of Rs. 11.11 lakh crores for Capital Expenditure has been allotted in Budget FY’25 which represents 3.4% of GDP. Phase IV of PMGSY will be launched to provide all-weather connectivity to 25,000 rural habitations. All these measures are expected to bring buoyancy to cement demand.

Achievements

• 'Best Customer Service' Award for the revolutionary AAA Certified Technology initiative at the 17th Customer Fest Show India 2024.
• Leadership Score in CDP Climate Assessment, showcasing leading position in environmental stewardship.
• Bhatapara and Roorkee plants won Apex India Green Leaf Platinum and Gold Awards for Environmental Excellence, respectively.
• Gold and Silver Awards for water positivity and waste co-processing, respectively, at the SKOCH Awards 2024.

About Ambuja Cements Limited


Ambuja Cements Limited, is one of India's leading cement companies and a member of the diversified Adani Group – the largest and fastest growing portfolio of diversified sustainable businesses. Ambuja, with its subsidiaries ACC Ltd. and Sanghi Industries Ltd has taken the Adani Group’s cement capacity to 78.9 MTPA with 18 integrated cement manufacturing plants and 19 cement grinding units across the country. The Company has entered into a binding agreement to acquire Penna Cement Industries Limited with a capacity of 14 MTPA. Ambuja has been recognised among ‘India’s Most Trusted Cement Brand’ by TRA Research in its Brand Trust Report, 2024 and among ‘Iconic Brands of India’ by The Economic Times. Ambuja has provided hassle-free, home-building solutions with its unique sustainable development projects and environment-friendly practices since it started operations. The company has many firsts to its credit – a captive port with six terminals that has facilitated timely, cost-effective and cleaner shipments of bulk cement to its customers. To further add value to customers, the Company’s innovative products are now enlisted in GRIHA product catalogue. These products not only fulfil important customer needs but also help in significantly reducing their carbon footprints. Being a frontrunner in sustainable business practices, Ambuja Cements ranks among ‘India's Top 50 companies contributing to inclusive growth’ by SKOCH and has been recognised for its climate change mitigation commitments with a ‘Leadership Score’ of A- by CDP.

Larsen & Toubro Wins ₹ 1,000–2,500 Cr Order to Construct Automobile Plant Near Bengaluru

The Buildings & Factories (B&F) business vertical of Larsen & Toubro has won an order to construct a state-of-the-art automobile manufacturing plant for a prestigious company.

According to the company’s classification of projects, the value of the order is between ₹1,000 to ₹2,500 crores.

According to sources, privy to this matter, the unnamed prestigious company behind this project is Tata Motors. Tata Motors has entrusted Larsen & Toubro's Buildings & Factories (B&F) business vertical with the construction of their state-of-the-art automobile manufacturing plant near Bengaluru. The project will emphasize sustainability and environmental considerations, aligning with Indian Green Building Council (IGBC) norms.

The manufacturing plant is to be constructed near Bengaluru by adhering to IGBC norms. The scope entails comprehensive design, execution of civil, structural, architectural and MEPF (Mechanical, Electrical, Plumbing and Fire Protection) services.

The Buildings & Factories vertical of L&T has immense expertise and wide-ranging experience to undertake all types of EPC projects for a variety of sectors. Over the years, it has acquired the capability to execute complex industrial projects on a design-and-build basis and has emerged as a total solutions provider in the factory construction segment.

The exact size of the automobile manufacturing plant hasn't been specified in the official press release announcement. However, given Tata Motors' reputation and the emphasis on sustainability, we can expect it to be a substantial facility, likely spanning several acres.

HMD Collaborates with Parents to Create New Phone for Children to Protect Their Mental Wellbeing

The Better Phone Project by HMD is an innovative initiative aimed at addressing the impact of smartphone use and social media on children's mental wellbeing.

In collaboration with parents, HMD is developing a phone specifically designed for children, providing an alternative to traditional smartphones. The goal is to empower parents with more control over their child's screen time and social media usage, ultimately promoting better balance and safeguarding the mental health of the next generation.

As part of The Better Phone Project, HMD commissioned new global research to provide insight into the dilemmas parents face when it comes to their children and smartphone use. The research findings, conducted in July 2024, revealed 11 is the average age when a parent hands over a smartphone to their child for the first time – but many confessed they wished they had waited longer. 10,092 parents were interviewed, across 5 different countries, United Kingdom, the United States, India, Germany and Australia.

HMD plans to tackle the issue with a suite of new devices – including a new phone– and wants parents to be a part of creating a solution that works for them as part of The Better Phone Project.

The Better Phone is designed with features that prioritize children's mental wellbeing and parental control. While specific details are still emerging, below are some anticipated features:

1. Customizable Screen Time Limits: Parents can set daily usage limits for apps and screen time.
2. Safe Browsing: A curated web browser with age-appropriate content.
3. Parental Monitoring: Real-time insights into app usage, websites visited, and social media activity.
4. Distraction-Free Mode: A mode that minimizes notifications during study or sleep hours.
5. Emergency Contacts: Quick access to emergency numbers.
6. Privacy Controls: Enhanced privacy settings for photos, location, and personal data.
7. Educational Apps: Pre-installed educational apps and games.

It is to be noted that these features are subject to change as the project evolves.

HMD is also keen to work with anyone who is interested in this subject and would like to be part of the journey to create change and new solutions. They can sign-up to be involved at https://www.hmd.com/en_int/better-phone-project.

Infosys to Modernize Danish Firm TDC Net's IT Infrastructure with AI-driven Hyper Automation

Infosys, a global leader in next-generation digital services and consulting, has partnered with TDC Net, a Danish digital infrastructure and connectivity provider, to drive digital transformation.

The collaboration aims to modernize TDC Net's IT infrastructure, enhance customer experiences, and optimize operational service costs. Infosys will standardize and simplify TDC Net's IT systems using AI-driven hyper-automation while adhering to industry standards.

Hyper-automation refers to the integration of various technologies, including Robotic Process Automation (RPA), Artificial Intelligence (AI), and Machine Learning (ML), to automate and optimize business processes.

This collaboration will streamline TDC Net's IT platforms, improving business productivity, and to improve TDC Net's customer experience, and help them optimize IT and operational service costs.

Campbell Fraser, CTIO of TDC Net, expressed confidence in achieving their goals through this collaboration.

Upendra Kohli, EVP at Infosys, emphasized prioritizing customer satisfaction and operational efficiency.

This partnership represents a significant step toward TDC Net's transformation into a customer-centric technology company. TDC NET is a digital infrastructure connectivity provider that builds, owns, and operates Denmark's next-generation digital infrastructure. The company connect over one million households and businesses with lightning-fast fibre broadband.

TDC NET's 5G network covers the entire country, enabling unprecedented speeds. The company fosters connections for nearly 140 years, shaping Denmark's digital landscape.

TCS Inks 3-Year Contract to Strengthen It Infrastructure and Cybersecurity of Follett Higher Education

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, has signed a three-year contract to strengthen information technology infrastructure and cybersecurity services for Follett Higher Education, North America’s leading college store operator. By deploying trademark platforms and solutions, such as TCS CognixTM and Cloud Exponence, TCS will create an enhanced IT infrastructure that better supports Follett’s innovative academic and retail experiences for colleges and universities across the US and Canada.

Follett operates more than 1,000 college stores across North America and is committed to supporting the academic journey by offering students the course materials, technology, supplies, and school-branded merchandise they need to succeed. To support this mission, Follett tapped TCS to enhance its existing IT infrastructure. This contract marks a significant expansion of the decade-long partnership between the two companies.

TCS will strengthen Follett’s technology operations by adopting its signature Machine First™ delivery approach, coupled with its proprietary accelerators like TCS Cognix™, an AI-driven human-machine collaboration suite that provides pre-built, cloud-based modules leveraging AI, machine learning, and intelligent automation. Together, they will automate manual processes and provide an efficient enterprise infrastructure (EIT) management platform with built-in security and regulatory compliances that will predict, prescribe, and remediate performance issues that can impact business operations.

TCS will also use Cloud Exponence, its comprehensive platform that delivers smart managed services in hybrid cloud environments. This will provide a holistic view of Follett’s operations across multiple cloud platforms and make it easier to deliver consistent IT services, optimize usage, and manage costs. With TCS as an extension of Follett, the joint team will leverage the industry-leading ITIL 4 standards and implement best practices for IT service management.

Prasad Keshava, Vice President of Enterprise Infrastructure for Follett Higher Education, said “At Follett, we believe every interaction a student has with us contributes to their potential for success. That’s why our partnership with TCS is crucial, along with a well-structured governance and accountability matrix. Working as a united team, we are eager to build a best-in-class technology backbone so we can make every touchpoint with our customer seamless, scalable, and fit for purpose, well into the future.”

To navigate the increasingly complex threat landscape, Follett will also partner with TCS to enhance cybersecurity and embed added security by design into its operations. TCS will safeguard Follett’s digital estate by managing their Security Operations Center and provide email, network, identity, and access management security services, along with tools to enhance their Governance, Risk and Compliance processes. To improve proactive defense against current and emerging threats, TCS will help Follett gain end-to-end visibility across its entire cybersecurity landscape through the former’s security-as-a-service platform.

Ashish Khurana, Vice President and Head, Retail Americas Business, TCS, said, "Whether it’s at a campus bookstore or online, we are committed to partnering with Follett to delight and support students on their academic journeys. We are excited to deepen our longstanding relationship with Follett. TCS will combine its contextual knowledge with technology to create frictionless experiences in students’ interactions with Follett.”

TCS partners with the top 10 global retailers and many others around the world to build profitable and sustainable businesses and offer immersive, unified, and hyper-personalized omnichannel experiences for their customers. TCS’ deep industry expertise, backed by decades of experience and relevant partnerships in retail, spans across store operations, merchandising, supply chain, marketing, pricing strategies, and business model reinvention. TCS’ extensive portfolio of retail platforms and offerings includes TCS OmniStore™, an AI-powered, unified composable commerce platform, and TCS Optumera™, an AI-powered strategic intelligence platform that enables retailers to make optimized merchandising decisions across the value chain.

Honda Developing Global Platform 'PF2' for Made In India Vehicles

Honda is said to be working on a global platform for its small- and medium-car portfolio, and India is set to become the global production base for this endeavor, reported AutocarIndia.com, a reputed auto publication. The new modular platform, codenamed "PF2," will serve as the foundation for a variety of upcoming products, including sedans, SUVs, electric vehicles (EVs), and hybrids.

The PF2 platform is designed to be versatile, accommodating both internal combustion engine (ICE) and EV powertrains. Honda aims to follow a multi-powertrain strategy, similar to Toyota.

Unlike a dedicated EV platform, the PF2 provides flexibility, especially considering the evolving demand for electric vehicles.

Honda's commitment to selling only EVs or fuel cell cars by 2040 remains intact, but the PF2 allows them to adapt to market dynamics. The PF2 platform will underpin a range of future models, including sedans, SUVs, and hybrids.

Honda hopes that the PF2 will rejuvenate its sales in India, where volumes for the City sedan and the Elevate (sold as the WR-V in Japan) have faced challenges. The Elevate has performed well in exports to Japan, making India an essential low-cost export hub for Honda.

With growing demand for strong-hybrid SUVs, Honda plans to localize its hybrid powertrain. The PF2 platform is designed to be hybrid-ready from the outset. In early 2029, Honda intends to launch a compact SUV based on the PF2 platform, which could arrive in Indian showrooms around the same time.

Overall, Honda's PF2 platform represents a strategic move to enhance its product lineup, address market shifts, and strengthen its position in India and beyond.

Besides Honda, several other automakers are actively developing innovative platforms. Ford is developing a Low-Cost EV Platform, which the American auto major compares it with Rivian and Tesla's offerings. The platform aims to support smaller electric cars and will be used for Ford's next-gen EVs.

Ford's Skunkworks team, led by Alan Clarke (known for his work with Tesla's Model Y), is engineering this platform. The goal is to create a more affordable EV platform with a smaller battery and different chemistry.

Automakers also collaborate, most of the times, to save costs and share technology. For instance, BMW and Toyota worked together, with BMW needing a roadster and Toyota requiring a halo sports car. Volkswagen and Citroën shared platforms for models like the original Beetle and VW Bus.

In summary, automakers are increasingly exploring partnerships and efficient platforms to enhance their product offerings and address market demands.

TCS, Infosys Fall Behind Accenture in Race for Al-Related Project Bookings

In the race for AI-related project bookings, Accenture has surged ahead, reporting $1.1 billion in revenue from generative AI. TCS, on the other hand, boasts a $900-million deal pipeline, while Infosys and Wipro have seen strong traction in generative AI deals but did not disclosed specific numbers. 

However, Accenture's $450-million Gen AI pipeline alone surpasses the combined efforts of the top 10 Indian IT companies. The demand for AI projects remains robust, even as the sector grapples with macroeconomic challenges and client spending constraints.

Infosys' Gen AI practice has generated 3 million lines of code through large language models (LLMs), positioning it as an industry leader. Infosys CEO, Salil Parekh, announced last month that the company has successfully deployed generative artificial intelligence (AI) to handle and manage 50 client projects

Accenture's success in the generative AI race can be attributed to several key factors. Accenture invests in its own AI workforce, with over 53,000 skilled data and AI practitioners. The company is in the middle of deploying $3 billion into building its AI capabilities. It also plans to upskill about 250,000 of its workforce in AI.

TCS has so far trained around 350,000 of its employees in AI skills. In a letter to employees, TCS CEO, K Krithivasan, highlighted that TCS has one of the largest AI-ready workforces.

Infosys chairman, Nandan Nilekani told shareholders during its 43rd annual general meeting (AGM), Infosys is currently working on over 225 generative artificial intelligence (GenAI) programs for its clients.

“We have over 250,000 employees trained in the areas of generative AI. Infosys is one of the largest adopters of GitHub Copilot globally. Our employees have already generated over 3 million lines of code using GenAI large language models (LLMs),” Nilekani said.

Wipro on other hand collaborates with Microsoft to launch a suite of cognitive assistants for financial services powered by generative AI.

Adani Wilmar to Acquire 67% Stake in Omkar Chemicals for ₹56 Crore

Adani Wilmar Ltd, a joint venture between the Adani Group and Singapore's Wilmar Group, is set to acquire a 67% stake in Omkar Chemicals Industries Pvt Ltd. The acquisition is valued at ₹56 crore and is expected to be completed within 3-4 months.

In a regulatory filing on Thursday, Adani Wilmar said it has signed the share subscription and share purchase agreement to take a majority stake of 67 per cent in Omkar Chemicals Industries Pvt Ltd, a speciality chemicals company.

Omkar Chemicals operates a manufacturing plant in Panoli, Gujarat, with an annual capacity of around 20,000 tonnes of surfactants, which are key ingredients in detergents, soaps, and cleaning solutions, and also used in pesticides and herbicides to improve their effectiveness.

This move will enhance Adani Wilmar's presence in the speciality chemicals market, allowing them to better meet customer requirements.

With this acquisition, Adani Wilmar will gain access to Omkar Chemicals' manufacturing plant in Panoli, Gujarat, which produces surfactants. This expands their presence in the speciality chemicals market. With Omkar Chemicals' expertise, Adani Wilmar can diversify its product portfolio beyond edible oils and agri-commodities.

Omkar Speciality Chemicals Ltd is a chemical company based in Mumbai, India. The company is primarily engaged in the production of specialty chemicals and pharma intermediates. The product range of Omkar Speciality Chemicals includes iodine derivatives, methyl iodide, ethyl iodide, chloroiodomethane, and more.

Adani Wilmar, a joint venture between Adani Group and Singapore's Wilmar Group, is one of the largest consumer food FMCG companies in India. The company has a diversified product portfolio offering most of the primary kitchen essentials, including edible oil, wheat flour, rice, pulses, chickpea flour (besan) and sugar. It is also a leading player in oleochemicals.

Cisco and Rockwell Partner to Drive Industrial IoT in APAC

Cisco and Rockwell Automation have recently signed a Memorandum of Understanding (MoU) to collaborate on boosting digital transformation in the industrial market across the Asia Pacific, Japan, and Greater China region.

Through this partnership, the two companies aim to provide technologies and services that enable manufacturers to optimize operations, enhance productivity, and ensure the security of their industrial networks.

 

(L-R)：Nicole Denil, vice president, Global Market Access, Rockwell Automation • Ruchika Jain, director, marketing and strategy - Asia Pacific, Rockwell Automation • Shovan Sengupta, regional vice president, market Access - Asia Pacific, Rockwell Automation • Scott Wooldridge, regional president - Asia Pacific, Rockwell Automation • Kartika Prihadi, Vice President, Partner Sales & Routes to Market, Asia Pacific, Japan & Greater China (APJC), Cisco • Simon Young, General Manager, Strategic Industry Partners, Asia Pacific, Japan & Greater China (APJC), Cisco • Yadi Karyadi, Country Solution Architect, Indonesia, Cisco

The collaboration will facilitate the implementation of advanced automation solutions, including connected factories and industrial IoT. Additionally, Cisco and Rockwell Automation will work together to address the digital skills gap in the manufacturing sector by leveraging Cisco's Networking Academy program and Rockwell Automation's university partnerships in the region.

Addressing the digital skills gap in the manufacturing sector

Cisco and Rockwell Automation will also work towards training and building a wider talent pool to address the digital skills gap in the manufacturing sector. This will be done by leveraging Cisco’s Networking Academy program and Rockwell Automation's partnerships with universities across the region.

Cisco Networking Academy is one of the longest-standing IT skills-to-jobs programs in the world. Cisco Networking Academy provides high-quality IT and cybersecurity courses, learning simulators, and hands-on learning opportunities via a learning platform to support instructors and engage learners in 190 countries. To date, over 20 million global learners have taken Cisco Networking Academy courses to gain digital skills. Additionally, 95% of students that have taken Cisco certification aligned courses have attributed obtaining a job or education opportunity to Cisco Networking Academy.

Gruner Renewable Energy Raises $60 Mn to Expand Compressed Biogas (CBG) Plants Across India

Gruner Renewable Energy, a leader in sustainable biogas solutions in India, has announced that it has secured US$ 60 million in funding. This investment will enable Gruner Renewable Energy to further expand its presence in the green energy domain as it moves ahead to establish new Compressed BioGas (CBG) plants across the country.

The company is committed to enhancing its research and development (R&D) efforts as it aims to make substantial contributions toward Prime Minister Narendra Modi's vision of energy independence and sustainability for India.

"Establishing CBG plants in India is crucial for fostering a self-reliant and sustainable future. By promoting clean energy production and reducing dependence on imported compressed natural gas (CNG), we contribute significantly to India's vision of energy independence. The Union Budget 2023-24 announcement to establish 500 new waste-to-wealth plants under the GOBARdhan initiative has been a major boost for the sector. With 113 functional CBG plants, 667 in development, and 171 under construction, the growth is substantial. These policy enablers promote a circular economy and sustainable development. This investment in Gruner from like-minded partners will be essential for driving this transformation," said Utkarsh Gupta, Founder & CEO, Gruner Renewable Energy.

Gruner plans to utilize this funding to significantly enhance its operations and market presence. With a primary aim of introducing breakthrough technology and highly efficient processes in the biogas industry, a substantial portion of the investment will be allocated to advancing research and development (R&D) initiatives, focusing on increasing energy efficiency and the accuracy of biogas production, targeting a projected substantial increase in energy output efficiency. Additionally, the funds will support business expansion, including establishing new biogas plants across India, scaling up CNG retail outlets, and exploring new business verticals such as sustainable aviation fuel (SAF) and green hydrogen. This strategic investment is expected to exponentially increase Gruner's market share over the next five years.

"As the Modi 3.0 government has taken charge, the biofuels industry anticipates policy reforms that will facilitate the expansion of new CBG projects nationwide. Biofuels will be essential in helping the country achieve its net zero ambitions. Government subsidies, tax credits, and substantial funding for R&D will be crucial in leveraging the opportunities inherent in CBG projects. This vision aligns with the goal of 'Viksit Bharat' (Developed India), where sustainable and self-reliant energy solutions drive economic growth and environmental stewardship,” added Utkarsh.

According to Utkarsh, encouraging the cultivation of energy crops through direct subsidies and financial incentives for farmers is essential. This approach not only supports the agricultural sector but also ensures a steady supply of feedstock for biogas production. By providing these incentives, the government can promote sustainable farming practices and contribute to the growth of the renewable energy sector. This strategy will help build a self-reliant and sustainable future for India.

A reflection of its commitment towards a cleaner and greener future for India, Gruner Renewable Energy is also establishing Asia's largest CBG plant in Navsari, Gujarat.

Established in February 2023, Gruner Renewable Energy has quickly become a premier provider of sustainable energy solutions, dedicated to reducing carbon footprints and achieving sustainability objectives. Leveraging advanced German technology, the company offers end-to-end solutions encompassing the entire plant setup process. Gruner Renewable is a proud member of the Indian Biogas Association, driven by a vision to revolutionize India's energy industry.

Revolutionizing Biogas Production

Gruner Renewable excels in installing top-tier biogas plants known for their affordability and user-friendliness. Headquartered in Noida, the company has achieved remarkable success in a short period, surpassing a turnover of INR 40 crores within just five months of its inception and currently managing over 50 projects. Starting with a team of four, Gruner has grown into a conglomerate with 200 employees.

Gruner Renewable Energy is committed to paving the way for a greener and more sustainable future. Their expertise in biogas production aims to mitigate environmental impact while promoting renewable energy sources. The company's strategic approach to using high-yield, cost-effective feedstocks ensures the production of high-quality biofuel, addressing significant waste disposal challenges and contributing to a cleaner environment.

Gautam Adani's Net Worth Increased by $5.6 Billion in 6 Days

Indian billionaire Gautam Adani experienced a remarkable surge in his net worth last week. Thanks to the strong performance of Adani Group companies' stocks, his wealth increased by 5.6 billion dollars (₹46,663 crore).

This impressive rebound comes nearly a year after he faced significant losses due to allegations of financial irregularities leveled by the American short-seller Hindenburg. His current net worth stands at 59.5 billion dollars, making him the 20th richest person in the world according to Forbes.

The Adani Group has witnessed a significant surge in its stock prices recently. The flagship firm of the Adani Group, Adani Enterprises, rose nearly ₹240 per share (7.5%) to hit a 16-month high of ₹3,377.50. Reports suggest that it may replace Wipro on the BSE Sensex during the upcoming semi-annual index rejig. The stock of Adani Total Gas zoomed 5.50% on the BSE. Adani Power surged 5.49%. Shares of Adani Green Energy jumped 4.34%. ACC soared 4.17%.

This surge comes after the Adani Group's market capitalization regained the $200 billion mark (₹16.9 lakh crore) and investors reaffirmed their faith in the Conglomerate.

The group’s recovery was driven by the investments made by GQG Partners and Qatar Investment Authority. It also secured a 3.5 billion dollars refinancing loan which boosted investor sentiment in favour of the Adani Group.

Aditya Birla Group's Ultratech to Acquire 32.72% Stake in India Cement for Rs 3,954 Cr ; Open Offer to Buy Another 26%

UltraTech Cement, a flagship company of the Aditya Birla Group, is set to acquire a 32.72% stake in India Cements from its promoters and their associates. The acquisition price is ₹3,954 crore (approximately $472 million).

This move aims to expand UltraTech's footprint in the highly competitive and fast-growing Southern cement market, particularly in Tamil Nadu.

The board of the Aditya Birla firm approved the acquisition of 32.72 per cent stake from promoters and their associates at Rs 390 per share, according to a regulatory filing from UltraTech on Sunday.

Besides, Ultratech has also announced a Rs 3,142.35 crore open offer to acquire another 26 per cent share of India Cements Ltd (ICL) from its shareholders.

This announcement comes within few weeks after it was reported that Adani Group, the second largest cement maker, is actively looking to buy cement businesses of debt-laden Jaypee Group for about ₹5,000 crore.

In mid of last month, the Gautam Adani's promoted group announced the acquisition of Hyderabad-based Penna Cement for Rs 10,422 crore this month, which will add 14 MTPA, taking its capacity to 93 MTPA. The acquisition was aimed at expanding Ambuja Cements' market presence, especially in South India.

With an installed capacity of 154.86 million tonnes per annum (MTPA) of grey cement, UltraTech Cement leads the Indian cement industry. It has ambitious plans to become one of the largest cement companies globally, targeting 200 MTPA. Adani Group, another major player, has also been actively expanding in the cement sector through acquisitions and organic growth.

The acquisition of India Cements will significantly enhance UltraTech Cement's market share in Southern India. As a result, UltraTech's presence in Tamil Nadu, Andhra Pradesh, and Telangana will strengthen. This move aligns with UltraTech's goal of becoming one of the largest cement companies globally, targeting an installed capacity of 200 million tonnes per annum (MTPA) of grey cement.

However, it is to be noted that regulatory approvals are necessary for the UltraTech Cement-India Cements deal. The Competition Commission of India (CCI) will review the acquisition to ensure it doesn't violate antitrust laws. Additionally, the Securities and Exchange Board of India (SEBI) will scrutinize the open offer process, as UltraTech aims to acquire more than 25% of India Cements' shares.

The expected timeline for completing the UltraTech Cement-India Cements acquisition can vary based on regulatory approvals, due diligence, and other factors. Generally, such transactions take several months. UltraTech will work diligently to finalize the deal, but specific dates haven't been publicly disclosed yet.

Telegram to Launch Its Own Mini App Store and In-App Browser

Telegram, the popular messaging app, is making some exciting moves. Founder Pavel Durov recently announced that Telegram will launch an in-app browser and a mini app store by the end of July 2024.

Recently, Telegram announced that its active user base has surged to 950 million, and they aim to cross the 1 billion mark this year. The growth in users comes amid an explosion in blockchain-based games, such as NotCoin, that users tap to play on Telegram.

The upcoming app store within Telegram will allow users to discover and access mini apps directly from the platform. The mini app store will host lightweight applications within Telegram. These mini apps can offer various functionalities, including games, tools, and services.

The app store will also have web3 support, aligning with Telegram's commitment to blockchain and cryptocurrency. This move comes after the company's initial coin offering (ICO) in 2018 faced challenges. Now, Telegram is actively promoting web3 technology on its platform.

The in-app browser will allow users to view web content directly within Telegram, streamlining their experience. No need to switch between apps.

According to Pavel Durov, CEO and Founder of Telegram, "To keep the fire going, this month, we will introduce a mini app store and an in-app browser with support for Web3-Pages. "

Telegram acknowledges the issue of scams and is taking steps to address it. The messaging app plans to display the month of registration and principal country for public accounts, similar to Instagram. Additionally, organizations can use mini apps to issue labels for channels, creating a decentralized marketplace for third-party verification.

Back in 2022, Durov had said that Telegram aims to develop decentralized tools, including non-custodial wallets and decentralized exchanges, to securely facilitate cryptocurrency transactions for millions,

Telegram is continuously evolving. In early of this month Telegram launched series of new features and updates, including "Minimized Mini Apps" feature wherein users can minimize mini apps for smoother multitasking. This feature enhances the overall user experience by allowing seamless transitions between different tasks within the app. "Telegram Stars" enables users to purchase digital goods and reward creators through paid posts. It's a way to support content creators and engage with their work.

Hashtag and Location Search in Stories also launched recently. Content discovery gets a boost with hashtag and location search functionality in Telegram Stories. Users can explore relevant content more easily. A new "customizable link widget" improves link visibility within stories. This feature allows creators to share links effectively with their audience.

Aditya Birla Group Enters Jewellery Retail Business, Launches 'Indriya' Jewellery Brand

Earmarks investment of Rs.5000 Cr for building new-age jewellery business

Group’s jewellery brand, Indriya, aims to be among top three national players.

Aditya Birla Group Chairman, Mr. Kumar Mangalam Birla, today announced the launch of the Group’s jewellery retail business, marking the Group’s foray into the rapidly expanding Rs.6.7 lakh crore Indian jewellery market. This strategic move marks another significant milestone as the Group strengthens its consumer portfolio, leveraging its strong brand equity and deep market insights. The jewellery business, launched under the brand Indriya, aims to secure a position among India's top three jewellery retailers over the next 5 years. This ambitious venture is backed by an unprecedented investment of Rs 5,000 Cr, underscoring the Aditya Birla Group's commitment to revolutionising the jewellery retail landscape in India.

Commenting on the launch, Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “The Indian consumer is rapidly coming of age and India is perhaps the most promising consumer cohort globally. This year, we have redoubled our bet on the dynamism of the Indian consumer, by launching two major new consumer brands – in paints and jewellery. Entering the jewellery business is compelling due to the ongoing value migration from informal to formal sectors, the rising consumer preference for strong, trusted brands, and the ever-booming wedding market, all of which present substantial growth opportunities. He added, “ This foray is a natural extension for the Group which has been in the fashion retail and lifestyle industry for over 20 years. The robust competencies that we have honed in retail, design and brand management will serve as pillars for our success.”

Indriya will simultaneously open four stores in three cities - Delhi, Indore, and Jaipur. The plan is to expand to 10+ cities within six months. The large 7000 sq ft plus stores— 30%-35% larger than the average size of national brands’— will carry an extensive range that spans occasions. The brand will offer a large initial assortment of 15000 curated jewellery pieces with over 5,000 exclusive designs. New collections will be introduced every 45 days - the fastest mind to market cycle in the Indian fine jewellery market.

Mr. Dilip Gaur, Director, Novel Jewels said, “Through Indriya, we are poised to redefine standards in creativity, scale, technology, and customer experience in the jewellery sector. It is built on the understanding that each piece of jewellery tells a unique story of craftsmanship. The distinctive product, exceptional customer experience and immersive buying journey are ultimately enablers to unlocking self-expression via jewellery. Our product fuses timeless craft, but reimagines contemporary designs. Our regional selection celebrates unique backgrounds but opens them up for discovery across other cultures”

Mr. Sandeep Kohli, CEO of Novel Jewels, said, "Jewellery as a category is transitioning from mere investment to a statement. Our proposition is built on perceptible differentiation, distinctive designs, personalized service, and authentic regional nuances. At the heart of Indriya's offering is the innovative Signature Experience with exclusive lounges. Customisation services with in-store stylists and expert jewellery consultants promises to elevate all the five senses and create an unparalleled shopping journey. Our best-in-class digital front end will create a seamless experience across digital and physical touchpoints and herald the new age in jewellery retail.”

The brand name 'Indriya' has its origins in Sanskrit, deeply rooted in India's rich cultural heritage. Indriya is an ode to the five senses. The name reflects the brand's philosophy of creating jewellery that awakens and delights all five senses, defining one's being and consciousness. Indriya's brand insignia, a Female Gazelle, serves as a powerful metaphor for the senses and epitomises the beauty and grace of a woman. This symbol represents the brand's commitment to creating jewellery that not only adorns but also empowers and celebrates the wearer.

ISRO's NSIL to Provide GSAT-16 and GSAT-18 Satellite Capacity to Telangana, Andhra Pradesh, and Kerala

NSIL (NewSpace India Limited), a commercial arm of ISRO, has recently signed agreements to provide satellite capacity from GSAT-16 and GSAT-18 to the state governments of Telangana, Andhra Pradesh, and Kerala. This initiative aims to broadcast educational content and benefit approximately 1.25 crore students in Andhra Pradesh, 1.5 crore students in Telangana, and 0.5 crore students in Kerala.

GSAT-16 and GSAT-18 are Indian communication satellites launched by the ISRO in December 7, 2014 and October 2016 respectively.

GSAT-16 provides communication services, including broadcasting, telecommunication, and data transmission. It carries 24 transponders in the C-band, 12 in the extended C-band, and another 12 in the Ku-band. Its coverage extends over India and neighboring regions.

GSAT-18 also serves communication needs and has 24 C-band, 12 extended C-band, and 12 Ku-band transponders. It covers India and parts of the Middle East. GSAT-18 enhances telecommunication, broadcasting, and broadband services.

Both satellites play crucial roles in expanding connectivity, broadcasting educational content, and supporting various communication services across India.

NSIL manages satellite capacity allocation through a structured process that involves coordination, agreements, and efficient utilization. NSIL collaborates closely with the ISRO, which operates and maintains a fleet of communication satellites (e.g., GSAT series). NSIL works with ISRO to allocate transponder capacity from these satellites.

Further, the entities (government departments, private companies, broadcasters) express their requirements for satellite capacity. NSIL negotiates agreements with these users. Agreements specify the duration, bandwidth, and other terms.

In the allocation process, NSIL allocates transponders based on users' service areas (e.g., state governments, educational institutions) and Frequency Band — C-band, Ku-band, etc.

NSIL balances commercial interests (leasing capacity to private entities) with social objectives (broadcasting educational content, rural connectivity). For example, providing GSAT-16 and GSAT-18 capacity to state governments for educational broadcasting.

NSIL monitors transponder usage, ensuring optimal resource allocation. It adjusts capacity based on changing demands and priorities.

Essentially, the Satellite capacity allocation involves distributing available transponder resources on a satellite to various users or service providers. Satellites have transponders, which are communication channels that receive signals from Earth, amplify them, and retransmit them back. Each transponder operates within a specific frequency band (e.g., C-band, Ku-band).

Different frequency bands serve different purposes. For instance, C-band is used for broadcasting, telecommunications, and data services. Ku-band is commonly used for direct-to-home (DTH) TV broadcasting and broadband internet.

Organizations (telecom companies, broadcasters, etc.) lease transponder capacity from satellite operators. They pay for the right to use a specific transponder or a portion of its bandwidth.

Cisco's Firewall is Now AI-driven, Designed to Write Its Own Codes, Test Them in Real-Time

Cisco has recently launched an AI-driven firewall. The network security firm networking said that its firewall is now AI-driven, which autonomously manages and updates itself, aimed at simplifying cyber-defence for its enterprise clients.

The new firewall is designed to write its own codes and test them in real-time within the user's environment. This means it can autonomously manage and update itself, reducing manual oversight. It can deploy the rules across different platforms, including data centers and the cloud.

The AI-powered firewall can also automatically remove rules once it deems them unnecessary.

This was announced by Raj Chopra, Chief Product Officer-Security Business Group, Cisco, at Accel Cybersecurity Summit 2024.

This development comes at a time when enterprises face increasing cyber-attacks globally. Cisco's approach aims to simplify cyber-defense for its enterprise clients, similar to how modern web browsers update automatically in the background. You can think of it as a "never have to upgrade ever again" solution.

Additionally, Cisco has also introduced the Cisco AI Assistant for Security, which leverages AI to speed up firewall management, making it simpler for administrators to identify, troubleshoot, and optimize complex policy environments.

Adani Submits Proposal to Kenya Govt for the Country's Biggest Airport

Gautam Adani's portfolio firm Adani Airport Holdings Ltd. has submitted a proposal to Kenya's government for investing in its main airfield, the Jomo Kenyatta International Airport (JKIA) in Nairobi, reported Bloomberg.

The proposal, as per the statement by KAA acting Managing Director Henry Ogoye, includes plans to build a new passenger terminal, a second runway, and refurbish existing facilities. The investment required is substantial, estimated at $1.85 billion, with the first five years of the proposed upgrade project requiring around $830 million.

However, the proposal is yet to undergo technical, financial, and legal reviews to comply with the nation's public-private partnerships laws. Neighboring Ethiopia, which operates Africa's largest airplane fleet, has also been expanding its aviation infrastructure in recent years, challenging Kenya's regional aviation hub status.

To recall, in early of last month, Adani Group (represented by Adani Ports and Special Economic Zone Ltd. joint venture) already entered Africa by acquiring a 95% stake in a container terminal company at the Port of Dar es Salaam in Tanzania. According to an exchange filing, Adani collaborated with Abu Dhabi-based logistics firm AD Ports Group and East Harbour Terminals Ltd. to acquire Tanzania International Container Terminal Services Ltd. for $39.5 million

Jomo Kenyatta International Airport (JKIA) in Nairobi faces several challenges that highlight the urgent need for infrastructural IMPROVEMENTS. The facilities at JKIA date back several decades, and many components require modernization to meet current standards. Over the past ten years, JKIA has suffered from insufficient facility and infrastructure capacity upgrades. Even temporary interventions have become permanent solutions, contributing to the current state of affairs and service disruptions.

Recently, videos emerged showing leaking roofs at JKIA, emphasizing the need for urgent repairs and maintenance. In April 2023, JKIA experienced an engine failure during takeoff of a Singapore Airlines Cargo plane, leading to an eight-hour shutdown. A second runway could have prevented such disruptions.

Notably, a previously planned Greenfield terminal project faced contract and litigation issues, resulting in delays.

Despite these challenges, there is optimism. Adani Airport Holdings Limited (AAHL) has proposed a significant investment to modernize JKIA, addressing infrastructure deficiencies and paving the way for growth and enhanced competitiveness in the region.

JKIA is located in Embakasi, a suburb of Nairobi, is Kenya's largest and busiest airport. It serves as the main gateway to the country, connecting Kenya to various international destinations.

In 2023, the number of passengers at JKIA surged to 8.2 million, accounting for 67.3% of all passengers in Kenya. JKIA's significance as an aviation center sets the pace for other airports in the region, and it continues to play a vital role in East and Central Africa's air travel landscape.

Adani Airport Holdings Limited (AAHL) took flight in 2019 with a vision to transform airport experiences. As a subsidiary of Adani Enterprises Ltd, AAHL manages seven top-tier airports in India: Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram.

AAHL's reach extends further with the Navi Mumbai International Airport (NMIAL), ushering in a new era for India's aviation sector¹². AAHL's commitment lies in curating exceptional journeys, from personalized services to innovative facilities, making airports gateways of wonder. They prioritize route development, retail experiences, digital transformation, elevated service quality, and sustainability initiatives.

Accenture Invests $170 Mn in Bengaluru, US-based ANSR

Accenture has invested nearly $170 million (₹1,400 crore) in ANSR, a Bengaluru and US-based company that has set up over 120 global capability centers (GCCs). This investment secures a significant minority stake for Accenture in ANSR. These GCCs play a crucial role in collaborating with parent enterprises, enhancing core value propositions, and driving scale.

Last year, NYSE-listed digital workflow company ServiceNow also invested in ANSR. This investment further strengthens ANSR's position as a trusted partner for Fortune 500 companies and others in building, managing, and scaling GCCs.

In the past, ANSR has received funding from Evolvence Capital, Sistema Asia Capital, Infosys Innovation Fund, and Accel.

By 2030, GCCs are projected to contribute a total revenue of $121 billion, approximately 3.5% of India's GDP.

A Global Capability Center (GCC), also known as a Global In-House Center (GIC) or Shared Services Center, is an organizational unit that provides specialized services and expertise to its parent company. These centers are typically located in countries with cost-effective talent pools and favorable business environments. GCCs handle functions such as IT, finance, HR, research, analytics, and customer support. They enable companies to centralize operations, improve efficiency, and access skilled resources while maintaining control over critical processes.

ANSR, founded in 2014, by Lalit Ahuja, provides enterprise-ready talent, workspace, and GCC operations, serving companies like 3M, Target, Lowe's, Rakuten, Ikea, and Airbnb. The strategic partnership between Accenture and ANSR aims to help clients establish and optimize global teams for technology and business functions.

Since its inception, ANSR has established over 85 GMlobal Capability Centers (GCCs) aggregating to more than 85,000 enterprise talents with over $1.6 billion in investment. These GCCs play a crucial role in helping companies build core and critical capabilities that are not easily outsourced. They provide access to niche skill sets and top talent in talent-rich hubs, resulting in at least 40% lower costs compared to outsourced or contract staff. Additionally, in-house teams at GCCs demonstrate over 30% higher productivity and retention, contributing to agile responses to market demands.

ANSR's comprehensive suite of AI-driven talent solutions and workspace management services further enhance the value proposition for businesses seeking to establish and optimize global teams.

Adani Energy Solutions Plans Raising ₹50 Billion via QIP

Gautam Adani's power transmission unit, Adani Energy Solutions Ltd. (AESL), is considering raising at least 50 billion rupees (approximately $597 million) through a qualified institutional placement (QIP), said a report by Bloomberg. This move marks the Indian conglomerate's first entry into public equity markets since a scathing short-seller's report significantly impacted shareholder value.

Citing people privy to the development, the Bloomberg report further said that Adani Energy is looking to bring in more institutional investors, including some from the US, through the share sale. Such an expansion of investor base is also an attempt to draw more research analysts to cover the firm.

AESL operates over 21,100 circuit kilometers (ckm) of transmission lines and has a target of ramping up to 30,000 ckm by 2030 through both organic and inorganic growth opportunities. Despite challenges, this QIP represents a powerful vote of investor confidence in the Adani Group and its recovery from the Hindenburg attack.

In May, Adani Energy Solutions Ltd. received board approval to raise up to ₹12,500 crore through various modes. This capital infusion is part of their strategic growth plans and recovery efforts following the Hindenburg attack.

Adani Group's return to public fundraising represents a significant milestone in their recovery journey. It reflects investor confidence and resilience following the Hindenburg attack.

The Hindenburg attack refers to a critical report published by the short-selling firm Hindenburg Research in June 2021. The report targeted the Adani Group, specifically its power transmission companies, including Adani Transmission and Adani Energy Solutions.

The report significantly impacted the Adani Group's market value, erasing up to $153 billion from the Indian conglomerate's valuation. However, it's interesting to note that Hindenburg's financial gains from this were relatively small, totaling just over $4 million. Since then, shares and bonds of Adani Group companies have swung wildly but have gradually recovered ground. As of now, the group's market value stands at approximately $205 billion, which is about $30 billion short of its pre-Hindenburg level.

The recent share sale by AESL, via QIP, represents the Group's efforts to recover from the impact of the Hindenburg attack.

However, it is to be noted that details of the fundraising, including size, could still change as the fundraise efforts are ongoing.

Tesla Official in Talks With Indian Govt Officials Got Fired : DPIIT Secy on Tesla's Delays for India

Rajesh Kumar Singh, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), recently addressed the delays surrounding Tesla's entry into the Indian market. In an interaction with CNBC-TV18, Singh stated, "We are the wrong person to be asked. Tesla representatives must answer this. The person talking to us got fired." While India remains open to all global companies interested in penetrating the Indian EV market, Tesla's entry remains uncertain.

DPIIT secretary admitted that the reasons behind Tesla’s delay remain unclear. "You really have to ask the Tesla representatives as to what they're waiting for. We really don't know; we don't have much of an update on that," Singh said.

The specific reason for the Tesla representative's dismissal remains undisclosed. The circumstances leading to this decision are not publicly available. Tesla's entry into the Indian market continues to be a topic of interest, and the company's internal dynamics may play a role in shaping their strategy.

Interestingly, Singh emphasized that India's EV policy framework aims to create a level playing field for all companies entering the market, drawing parallels with successful strategies in other sectors. Despite the absence of a Production Linked Incentive (PLI) scheme, Singh expressed confidence in attracting investment to India's EV sector through import policies and tariff measures. It seems the ball is now in Tesla's court to address internal and external factors influencing their plans.

Singh emphasized that India's EV policy aims to create a level playing field for all global companies interested in entering the market. The goal is to foster a competitive and inclusive environment for players in the EV sector.

Despite high expectations, Tesla's progress in India has stalled. Singh candidly stated that the reasons behind Tesla's delay remain unclear. He encouraged asking Tesla representatives directly for updates.

Drawing parallels with other sectors, Singh highlighted successful negotiations with global tire manufacturers. Relaxing restrictions led to significant foreign investment, even without a Production Linked Incentive (PLI) scheme.

While Tesla's entry remains uncertain, India's commitment to EV adoption and investment opportunities remains steadfast. 

Tata Power’s Microgrid Arm and National Dairy Development Board Partner to Advance Initiatives in Renewable Energy Technologies for Rural Communities

TP Renewable Microgrid (TPRMG), a subsidiary of Tata Power, has signed a Memorandum of Understanding (MoU) with the National Dairy Development Board (NDDB). This collaboration aims to jointly advance initiatives in renewable energy technologies for rural communities and within the dairy value chain.

Central to this collaboration are several key initiatives designed to enhance sustainability and operational efficiency within the milk value chain. This includes the solarization of Dairy Cooperative Societies (DCSs), Bulk Milk Coolers (BMCs), and Milk Chilling Centers, facilitated by cutting-edge solar microgrid technology.

Chairman, NDDB highlighted that this MoU is a significant milestone as two great institutions, NDDB and Tata Power, are coming together to pursue a sustainable & efficient dairy value chain. The aim is to integrate renewable energy solutions, boost operational efficiency and promote use of green fuels.

A key highlight of this partnership is the ambitious plan to transform Mujkuva village in Anand district, Gujarat, into a Carbon Neutral Village through the collaborative efforts of NDDB and TP Renewable Microgrid. This endeavor targets to promote sustainability in rural economies and foster a greener future for the dairy industry.

Additionally, the partnership prioritizes the integration of dung-based biogas power generators into these microgrids, advancing sustainable energy practices within the dairy sector. Energy-efficient chullahs (stoves), solar dryers, and cold storage solutions will also be applied to enhance operational efficiencies in dairy and agricultural sectors. Furthermore, comprehensive energy audits will be conducted on existing electric and thermal systems to identify opportunities for improvement and implement efficient, sustainable solutions.

This strategic partnership between TPRMG and NDDB is poised to establish a benchmark in the dairy industry by integrating green energy solutions and promoting sustainability across the entire milk value chain. The collaboration invigorates the adoption of advanced technologies, driving significant environmental benefits, reducing energy costs, and encouraging sustainable practices, thus ccontributing to India's renewable energy adoption and rural development. 

India, UK Launch Technology Security Initiative Involving Advance Materials, Clean Energy and Cybersecurity

India and the United Kingdom have jointly launched an ambitious Technology Security Initiative (TSI) to boost economic growth, fostering collaboration on telecoms security and unlocking investment in emerging and critical technologies including semiconductors, quantum and AI.

This initiative prioritizes critical and emerging technologies covering areas such as telecoms, critical minerals, AI, quantum, health/bio tech, advanced materials, and semiconductors. Progress will be reviewed biannually, fostering collaboration and unlocking investment opportunities across these sectors.

Additionally, the UK and India are working together to tackle climate change, accelerate green energy partnerships, and promote green growth opportunities.

1. Advanced Materials: The UK and India will establish a high-level dialogue on advanced materials, focusing on research, development, and collaboration. This includes materials/composites and research on responsible innovation and standards.

2. Clean Energy and Climate Resilience: The initiative aims to enhance collaboration in critical minerals and clean energy. Both countries will work together to build clean power access and climate resilience, benefiting the global south and small island states.

3. Cyber Security: As part of their broader partnership, the UK and India will provide world-class expertise, education, and training to their cyber security professionals. This includes expanding the UK's Chevening Cyber Scholarships program for India and establishing a Cyber Security Training Centre of Excellence.

This collaboration underscores the importance of technology security, economic growth, and global resilience.

Notably, on Wednesday, British Foreign Secretary David Lammy met with Indian Prime Minister Narendra Modi and India's Minister for External Affairs, and agreed to work more closely with India on tackling climate change, including mobilising finance and accelerating a partnership on off-shore wind and green hydrogen.

Adani Green's Subsidiary Operationalizes 250 Mw Wind Power Capacity in Khavda, Gujarat

Adani Renewable Energy Forty One Limited, a wholly-owned stepdown subsidiary of Adani Green Energy Limited (AGEL), has successfully operationalized the first 250 MW wind capacity at the world's largest 30,000 MW renewable energy plant located in Khavda, Gujarat.

This development increases the operational capacity at the Khavda plant to 2,250 MW, solidifying AGEL's leadership with a total operational portfolio of 11,184 MW across India. The Khavda Renewable Energy plant boasts some of the best wind resources in India, with wind speeds averaging around 8 meters per second. It is equipped with some of the world's largest and most powerful onshore wind turbine generators (WTGs), each with a capacity of 5.2 MW. These high-capacity WTGs enable efficient land use, resulting in higher energy yields and reduced levelized cost of energy (LCOE).

Earlier in February, AGEL operationalized 551 MW solar capacity in Khavda, by supplying power to the national grid. Later in the following month, AGEL operationalized 126 MW wind power capacity at the plant. This marked the completion of the 300 MW of project, with 174 MW being operationalized earlier.

Wind energy plays a crucial role in India's energy mix, complementing solar power generation during the day and aiding grid stability when paired with storage solutions.

AGEL's commitment to building an indigenous supply chain and supporting the 'Made in India' initiative is evident through the advanced German technology used in manufacturing these WTGs near the Mundra port ². With this milestone, AGEL has transformed the barren wasteland of Khavda into a hub of clean and affordable energy, capable of powering 16.1 million homes annually.

Adani Group portfolio firm, Adani Infra, is developing innovative solutions to address terrain challenges at Khavda. For example, they have deployed underground stone columns to enhance soil strength, developed with global collaboration involving both domestic and international institutions. Specialised corrosion- resistant coatings are also being used for solar module mounting structures and switchyard equipment to ensure long-term protection in highly corrosive environments.

India's renewable energy goals receive a significant boost with Adani Green Energy Limited's (AGEL) operationalization of the first 250 MW wind capacity in Khavda, Gujarat. The 250 MW wind capacity adds to India's total renewable energy capacity, contributing to the national target of achieving 175 GW of renewable energy by 2022 and 450 GW by 2030.

The Khavda wind farm generates clean electricity, reducing reliance on fossil fuels and lowering greenhouse gas emissions. It aligns with India's commitment to combat climate change.

Wind energy complements solar power by providing electricity during non-sunny hours. This helps maintain grid stability and ensures a consistent power supply.

AGEL's investment in wind energy infrastructure creates jobs in manufacturing, installation, and maintenance, supporting India's economic growth. The use of advanced German technology for wind turbine generators contributes to India's indigenous supply chain and the 'Make in India' initiative.

The 250 MW capacity can power approximately 16.1 million homes annually, improving energy access and quality of life.

In summary, AGEL's wind capacity operationalization contributes significantly to India's renewable energy transition, fostering sustainability and energy security.

Abolishment of 'Angel Tax' and Other Supporting Announcements in Budget 2024–25

In a significant move to bolster the Indian startup ecosystem, the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, proposed the abolition of "angel tax" for all classes of investors during the presentation of the Union Budget 2024-25 in Parliament. This decision aims to boost the entrepreneurial spirit, support innovation, and encourage investment in startups.

Additionally, the corporate tax rate for foreign companies has been reduced from 40% to 35% to attract foreign capital for India's development needs. The government also plans to simplify rules and regulations for foreign direct investment and overseas investments, further promoting economic growth and innovation.

“Our government will seek the required legislative approval for providing an efficient and flexible mode for financing leasing of aircrafts and ships, and pooled funds of private equity through a ‘variable company structure’,” added Smt. Sitharaman.

To facilitate foreign direct investments, nudge prioritization, and promote opportunities for using Indian Rupee as a currency for overseas investments, the Finance Minister announced that the rules and regulations for Foreign Direct Investment and Overseas Investments will be simplified.

In addition to abolishing the "angel tax," the Union Budget 2024-25 introduced several measures to support entrepreneurship and innovation:

1. Startup India Seed Fund: The government has proposed a ₹1,000 crore ($134 million) fund to provide early-stage funding to startups. This fund aims to boost innovation and encourage new ventures.

2. Relaxation of FDI Norms: To attract foreign investment, the budget proposes simplification of rules and regulations related to foreign direct investment (FDI) and overseas investments. This move is expected to facilitate capital inflow into Indian startups.

3. Corporate Tax Reduction for Foreign Companies: The corporate tax rate for foreign companies has been reduced from 40% to 35%. This reduction aims to attract foreign capital and promote economic growth.

4. Incentives for Electric Vehicles (EVs): The budget provides tax incentives for the manufacturing of EVs and their components. This measure encourages clean energy startups and promotes sustainable mobility solutions.

5. Research and Development (R&D) Incentives: The government plans to incentivize R&D activities by providing tax benefits to companies engaged in research and innovation. This will support technology-driven startups.

6. TDS on e-commerce operators from 1% to 0.1% : In the Union Budget 2024-25, the government has proposed a reduction in the Tax Deducted at Source (TDS) rate for e-commerce operators. The TDS rate, which was previously 1%, has been lowered to 0.1%, thereby improving cash flows and unblocking working capital for sellers. This move aims to ease compliance for e-commerce platforms and encourage digital transactions.

7. E-Commerce Export Hubs: The formation of E-Commerce Export Hubs is another transformative step and will enable MSMEs and sellers to access international markets. These hubs will serve as bonded zones, facilitating both exports and imports of e-commerce cargo. They aim to address the challenge of re-imports, which account for about 25% of e-commerce goods. Setting up E-Commerce Export Hubs will enhance the accessibility and efficiency of e-commerce exports and empower India’s many local sellers.

Overall, this year's budget offered measures collectively aim to create a conducive environment for startups, foster innovation, and drive economic growth.