Andhra Chamber Launches Women of STEAM Forum
Andhra Chamber marked its 95th year of establishment by inaugurating the Women of STEAM Forum. STEAM encompasses Science, Technology, Engineering, Arts and Mathematics.
Dr. V L Dutt, President, Andhra Chamber, conveyed that India’s inclination toward STEAM careers witnessed significant evolution. He pointed out that in 2016, India claimed a prominent position globally with around 78 million university students, among which a mere 2.6 million embraced STEAM fields. However, by 2018, nearly 32 per cent of students had gravitated towards it, underscoring substantial growth. Dr Dutt emphasised the aptness of establishing the Women of STEAM Forum, anticipating its potential to serve as an industry exemplar.
The core objective behind the forum is to foster focused discourses, uniting industry, academia, research & innovation teams, policy makers, governments, and other stakeholders. The initiative concurrently spotlights sustainable development and aims to channel the forum’s influence toward addressing sustainable development goals. A pivotal facet is the empowerment of women to drive global sustainability within various industries.
Suchitra Ella, a Padma Bhushan recepient in 2022 and the Co-founder and Managing Director of Hyderabad-based Bharat Biotech highlighted the pivotal role played by STEAM in the progress of the nation. In her keynote address she said, “From the towering achievements in information technology to groundbreaking discoveries in the life sciences, our women have consistently displayed promise and determination and have been instrumental in propelling India’s growth story. Today, I am supported by over 300 women in Bharat Biotech. It is our collective responsibility to ensure that every woman has access to quality education and receives the mentorship they require.”
Sriramya Yadavalli, Associate Vice President (Policy) at Guidance Tamil Nadu, made a presentation on the state’s initiatives and schemes to promote women in STEAM. Noteworthy individuals from the STEAM sectors were bestowed accolades for their contribution to their respective fields.
Advanced Security with Godrej’s New Locker
Acknowledging Chennai’s status as a rapidly growing market with a CAGR of 15 per cent year on year, Godrej security solutions is concentrating on expanding its presence with a focus on the jeweller community. The company showcased various innovations, including the Matrix Locker with I Warn, alongside comprehensive security solutions and innovative technology like the ‘SmartFog’ – a potent fogging security system designed to impede intruders. Additionally, Godrej Security Solutions introduced AccuGold, a gold testing machine for determining purity with remarkable precision.
The event’s focal point was the introduction of the new Matrix Locker with I Warn—an advanced security solution that offers key lock and digital lock variants. The key lock version features a dual control lock, while the digital lock version provides security options like user code, master code and an override key. This dual-layered security ensures authorised access to the interior, which features adjustable toughened glass shelves and intelligent lighting. The I-Warn sensor offers an additional layer of security that notifies homeowners of unauthorised access or tampering. Smart Fog is a pioneering fogging security system that immobilises intruders with thick fog, providing on-site personnel, ample time to react. The product is a result of recognising consumer demand for a home storage solution with premium design and heightened aesthetics.
The brand believes that the new products along with an intensified focus on after-sales service will drive its growth in Chennai. Pushkar Gokhale, Business Head, emphasised their commitment to continuous innovation to meet evolving security needs. He stated that the new launches signify a substantial step forward. The brand has heavily invested in research and development to introduce state-of-the-art solutions for both institutions and homes. These products are part of the Secure 4.0 initiative, aimed at providing protection and peace of mind to customers.
Gokhale also unveiled an ongoing awareness campaign regarding insurance claims that aims to equip businesses with the knowledge needed to make informed decisions and effectively safeguard their financial interests in case of theft. He emphasised the importance of having a locker to store cash, as companies do not cover cash that is not stored in a safe.
Accugold is a gold testing machine that accurately determines gold purity without damaging ornaments, suitable for jewelers, banks and financial institutions.
NLCenters long term power usage agreement with rajasthan
NLC India Limited (NLCIL), a central public sector undertaking under the Ministry of Coal, currently boasts of 1421 MW of renewable energy capacity. The company is set to establish 6031 MW capacity by 2030, as outlined in its corporate plan. One of the projects in progress is the 300 MW solar project, located in Barsingsar, Rajasthan. This project, with an execution contract awarded to TATA Power Solar Systems, was secured through competitive bidding. Recently, NLC India Limited and Rajasthan Urja Vikas Nigam Limited (RUVNL) marked a significant step forward for the supply of solar power to the state of Rajasthan by signing a Power Usage Agreement.
NLCIL has also secured a 510 MW solar project capacity through the CPSU Scheme Phase-II Tranche-III initiated by the Indian Renewable Energy Development Agency (IREDA).
The project in Rajasthan is set to generate 750 million units of power annually making a big contribution to the state’s renewable energy goals as the generation of power from the Barsingsar project is expected to reduce approximately 0.726 Million Tonnes of carbon dioxide emissions annually. This emission reduction, in conjunction with the massive power generation capacity, positions the project right in the middle of the fight against climate change.
NLCIL venture into the Rajasthan market marks a significant expansion beyond its current base of 1.40 GW capacity in Tamil Nadu. With the company’s eyes firmly set on the goal of 6,031 MW capacity by 2030, NLC is poised to play a pivotal role in shaping India’s energy landscape.
Kinara capital pledges over Rs 1100 crore to fuel MSME growth in TN
Kinara Capital, a leading fintech company dedicated to enhancing MSME financial inclusion, has announced a commitment to disburse more than Rs 1100 crore during the fiscal year 2023-24, to facilitate business loans for MSMEs across the urban and peri-urban areas of Tamil Nadu and Puducherry.
The firm’s myKinara App, available in Tamil and other regional languages, grants MSME owners seamless access to initiate the loan application process directly from their smartphones.
Thirunavukkarasu, Chief Operating Officer, commented on this significant step, “Kinara Capital takes immense pride in bolstering the efforts of hardworking MSME business owners in Tamil Nadu and Puducherry, whose contributions significantly drive our nation’s economic growth.”
Since its inception in Tamil Nadu in 2012, Kinara Capital has disbursed a total of Rs 1,960 crore through over 33,000 business loans. In the previous fiscal year, they disbursed over Rs 656 crore in this region, marking a remarkable 130 per cent increase from FY22. As part of HerVikas programme, women-owned MSMEs receive an automatic upfront discount on business loans. Up to this point, Kinara Capital has provided over Rs 226 crore to 2140 women entrepreneurs in Tamil Nadu. Kinara Capital is also facilitating access to collateral-free business loans ranging from Rs 1 lakh to Rs 30 lakh for MSMEs.
Within Tamil Nadu, Kinara Capital lends its support to more than 300 major MSME sub-sectors, such as textiles, provision stores, auto components and metal works, among others. The direct and cumulative impact of Kinara Capital’s provision of formal business credit within Tamil Nadu and Puducherry has translated into over Rs 139 crore in additional income generation and lead to creation of more than 30,229 new jobs. To further catalyse the growth of MSMEs, Kinara Capital offers the “Grow with Kinara” workshop series, conducted in Tamil and other languages, to assist MSMEs in digitising and expanding their business operations.
Refex Industries Limited soars
From Rs 98.45 in June 2023 to Rs 702.60 in August 2023, the price of Refex Industries share soared at 6.13 per cent in just 72 days. This was after touching a peak of Rs 924 on 02 August. Chennai-based Refex Industries is into refrigerant gases, ash & coal handling and power trading. So, what is happening?
The company reported good profits both in FY23 and in the first quarter of the current financial year. Its net profit for FY23 rose to Rs 2201 lakh from Rs 1378 lakh in the previous year.
“What lifted the company’s performance was the coal and ash handling business,” said Anil Jain, Managing Director and continued, “the company entered the business about three years ago and the efforts of the first two years bore fruit last year.”
Jain further elaborated, “Refex has structured its business in such a way that its trucks ferry ash out of the thermal plants and bring back coal. Thermal ash handling in India, is a Rs 80,000 crore market, almost entirely served by the unorganised sector.”
Jain highlighted that the thermal power plants are recognising the significance of technologically advanced services that offer a transparent record of ash disposal. In the previous year, Refex’s clients entrusted the company with around 20-30 per cent of their ash handling needs. An optimistic Jain anticipates that in the present and upcoming years, clients will increasingly rely on Refex to manage a larger portion of their ash handling,
RK Swamy to go public
In a significant move gor the Indian marketing industry, RK Swamy Limited, the country’s largest Indian-majority-owned integrated marketing services provider, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). The move signals the company’s intent to go public and expand its operations further.
The IPO comprises a fresh issue of up to Rs 2150 million and an offer for sale of up to 8,700,000 equity shares by existing shareholders. The offer for sale encompasses up to 1,788,093 equity shares by Srinivasan K Swamy, up to 1,788,093 equity shares by Narasimhan Krishnaswamy, up to 4,445,714 equity shares by Evanston Pioneer Fund L.P., and up to 678,100 equity shares by Prem Marketing Ventures LLP.
The funds raised through the IPO are earmarked for several key purposes including working capital, capital expenditure to establish a state-of-the-art digital video content production studio, investment in IT infrastructure development and funding for material subsidiaries, Hansa Research and Hansa Customer Equity. Additionally, the funds will be directed towards setting up new customer experience centers, computer-aided telephonic interview centers and general corporate requirements.
RK Swamy Limited stands as a premier Indian integrated marketing services provider, specialising in creative, media, data analytics and market research. During the fiscal year 2023, the company demonstrated its prowess by launching more than 818 creative campaigns across various media platforms on behalf of clients. Moreover, it managed a staggering 97.69 terabytes of data and conducted over 2.37 million consumer interviews through quantitative, qualitative and telephonic surveys.
SBI Capital Markets Limited, IIFL Securities Limited, and Motilal Oswal Investment Advisors Limited have been appointed as the Book Running Lead Managers to oversee the IPO. With the filing of the DRHP, RK Swamy Limited is poised to embark on an exciting journey of growth and expansion, further solidifying its position as a leader in India’s marketing landscape.
First ever technology centre of UPS in India comes up at Chennai
UPS is one of the world’s leading multi-national shipping, receiving and supply chain management firms with headquarters in US. Tamil Nadu Chief Minister M K Stalin, inaugurated their first ever technology centre of India at Porur which will provide high-tech jobs to more than 400 people.
In a function organised by the Department of Industries, Investment Promotion, and Commerce, the Chief Minister also handed over offer letters to youth selected under Naan Mudhalvan Scheme to undergo internship at the centre.
Consistently improving the business climate through concerted efforts across departments has led to Tamil Nadu being ranked third in 2022 in the Ease of Doing Business rankings, making a herculean leap from the 14th rank in the previous iteration. Apart from creating world-class infrastructure, including sector-based industrial parks, the state has also unveiled several sector-specific policies to boost investments.
Working towards the USD 1 trillion economy by 2030, the state, in the last two years alone has facilitated 241 investment projects with a cumulative investment of Rs 297,196 crore and employment opportunity to 415,282 people.
Several R & D and global capability centres are coming up in Tamil Nadu, generating higher-end, skill-oriented jobs in the past few years. Since 2021, over 30 GCCs have established their greenfield or brownfield expansion in Tamil Nadu.
Madras Chamber enters 188th year
The oldest chamber in Tamil Nadu and the country’s second old chamber of commerce, the Madras Chamber of Commerce and Industry (MCCI) recently conducted its 187th annual general meeting. Addressing the gathering, TRB Rajaa, Minister for Industries, Investment Promotion and Commerce expressed the need to make Tamil Nadu the R&D hub for India, and the state’s plan to create such R&D ecosystems in all the major cities.
MCCI has a unique distinction of putting forth industry concerns through several years. Even before independence, it continuously voiced to the British Raj against the various taxes imposed. Post liberalisation, in 1991, MCCI prepared a study for Tamil Nadu highlighting the five major areas to focus for development that included infrastructure and power, education and skills, procedural simplifications and ease of doing business. Even during covid, the chamber suggested to the state on restructuring debt schemes for MSME. It has also shared inputs on the state’s Fintech policy and recently signed an MoU as a training partner for the Naan Mudhalvan scheme.
Global Food Security looms in the dark
“With one-third of emissions coming from food systems, addressing food security for the globe will the next main agenda of agriculture,” said Dr Glen Denning, founding director of the Master of Public Administration in Development Practice Programme at Columbia University’s School of International and Public Affairs. At a lecture organised by M S Swaminathan Research Foundation, Dr Denning said that 735 million people or every 1 in 11 across the world remain hungry and about 4 billion people consume less-than healthy nutrition diet.
During the 1960 food crisis, the major fear was about Malthusian catastrophe where the food needs of a growing population would not be met. Thanks to the green revolution, the situation was crossed. But again, the world stands to face a similar situation due to climate change, war and other catastrophes. To over come this, Dr Denning, in his book title Universal Food Security, How to End Hunger While Protecting the Planet has identified five major areas where investment must be pumped in. These include sustainable intensification, market infrastructure, social protection, postharvest stewardship and healthy diets. The future will be to grow crops sustainably in a in a limited area of land and Dr Denning emphasised the need for business to join hands with organisations like UN to combat the food crisis.
