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Children’s Furniture Brand Smartsters Launches its First Brick and Mortar – a Store-in-store at the Iconic Crossword Bookstore

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Smartsters brings a child-like curiosity to Crosswords! Get ready, parents and children alike, for Smartsters’ first Shop-in-Shop experience at Crossword’s flagship store!

Smartster’s brand launched its kid’s furniture in crossword

Introducing Smartsters – A Wonderland of Imagination in the Heart of Mumbai! The enchanting world of childrens literature is about to get even more magical as Kemps’ Corner Crossword proudly announces the grand opening of “Smartsters” a dedicated kids furniture store, nestled within the hallowed aisles of the iconic bookstore.

Smartster’s brand launched its kid’s furniture in crossword

Smartsters’ Bikram Mittra, Head of Design, expressed his enthusiasm for the venture, stating, “We believe that the joy of reading should extend beyond the pages of a book. Smartsters is designed thoughtfully where childrens dreams come to life in the form of beautiful and imaginative furniture. We are excited to provide families with a unique shopping experience that combines literature and comfort.”

Smartsters is a whimsical and imaginative space where creativity knows no bounds. It is designed to inspire and enchant children and parents alike, offering an exciting assortment of furniture and accessories specially crafted to enhance every childs reading and playtime experience. As Crossword continues to foster the love of literature in the hearts of young readers, Smartsters complements this mission by creating an environment that encourages kids to dream, explore, and embark on countless adventures through books.

Crossword Bookstores is thrilled to announce the opening of a new wing dedicated to cosy and comfortable furnishings for kids with Smartsters. This association aims at providing our customers with a diverse and enriching shopping experience for their little ones.

We are delighted to embark on this exciting venture with Smartsters,” says Nidhi Gupta, Executive Director of Crossword Bookstores. “This collaboration not only diversifies our product range but also aligns with our mission to create a welcoming space where creativity, interaction and exploration converge.”

Highlights of Smartsters include:

Enchanting Furniture: A range of enchanting furniture pieces, including storage shelves, designed to spark imagination in a kid, a joyous adventure. These pieces are designed specifically keeping children in mind, so they are playful, fun, and perfect for growing kids.

Expert Guidance: Friendly and knowledgeable inhouse designers to assist parents in selecting the perfect pieces to create an inspiring and safe space for their little ones.

About Crossword

Crossword, Kemps’ corner, is the flagship store of the Crossword brand. It has been a beloved cornerstone of the community for over four decades, providing a wide range of books and literary experiences for readers of all ages. Their store-in-store with Smartsters is their latest endeavour to inspire the youngest members of our community to fall in love with the magic of books.

About Smartsters

Smartsters is the result of a labour of love by parents who are deeply acquainted with the confines of indoor settings. Kids spend the majority of their time at home where they live, sleep, learn, play, dream, and form the strongest ties. Their immediate surroundings have an impact on their emotional, physical, social, and cognitive growth. Smartsters understands that carefully planned interior environments may promote childrens growth and development. They questioned the traditional design of childrens interior spaces to reimagine them from ground up.

For more information, please visit www.smartsters.in.

French payment firm Worldline forays into direct merchant acquisition in India

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French digital payment company Worldline announced its entry into the direct merchant acquisition business in India. They’ve introduced a new business application on their next-gen Android-powered smart terminals to help merchants accept payments, reconcile daily sales, access business loans, and provide pay-later options to customers.

Until now, Worldline had not been involved in merchant acquisition within the Indian market. They primarily collaborated with banks, who handled merchant acquisition, while Worldline focused on deploying and managing the terminals.

“Some of the key (merchant) segments that we will be pursuing are groceries, supermarkets, electronics, mobile, white goods, bakery, quick service restaurants, departmental stores, stationery and pharmacies. There are fresh opportunities emerging in the offline space as new merchants in smaller towns and cities seek digital payment capabilities,” said Ramesh Narasimhan, chief executive officer – India, Worldline. 

Worldline will continue to work alongside banks rather than competing with them, recognizing the ongoing importance of banks to merchants, as stated by Narasimhan.

GuruQ Launches Innovative GuruQ Powered Tuition Centers, Revolutionizing Education in India

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GuruQ, Indias premier online tutoring platform, is proud to announce the launch of its groundbreaking tuition center Module. This strategic initiative will transform the education landscape by providing a comprehensive solution for students tutoring needs. This model will be introduced in phases, starting with Delhi-NCR, followed by a gradual expansion across North India and other regions. GuruQ aims to become the go-to platform for students and tuition centers alike, offering numerous benefits and streamlining the learning process.

Team GuruQ

“GuruQs new launch represents a significant leap forward in the education sector. We are committed to providing students with the best tutoring experience while supporting tuition centers to reach their full potential,” said Minal Anand, CEO & Founder of GuruQ. “With our technology-driven operations, strategic marketing support, and simplified institute management solutions, we aim to revolutionize the way tutoring is delivered and accessed in India.”

With the introduction of this tuition center module, GuruQ is moving into another era of personalised learning, accessibility, and convenience. This model will allow tuition centers to register on GuruQ after undergoing a rigorous vetting and verification process. This ensures that every center listed on GuruQ upholds the highest quality standards, creating a trusted environment for students and parents both. Students and Parents can then go on GuruQ, view and compare all tuition centers, package pricing, faculty, batch details and timings etc.

Key Features of GuruQ Powered Tuition Centers:

1. Vetting and Verification Process: Prior to listing on GuruQ, tuition centers must pass through a comprehensive vetting and verification process. This includes background checks, assessment of faculty and teaching quality, proper classroom setting, neat & clean hygienic space to guarantee the highest quality standards.

2. Providing students with choices: Students can now compare faculty, batch offerings, and package prices, enabling them to make an informed choice. This allows students to tailor their learning needs as per their choice and goals.

3. Flexible Payment Options: On booking classes with a GuruQ Powered Tuition Center, students get the flexibility to pay tuition fees at one time or in monthly in installments, making education more accessible to a wider spectrum of learners.

The tuition center model introduced by GuruQ addresses various challenges faced by students and coaching institutes. It simplifies the tuition center hunting process, eliminating the need for physical visits to check course details and amenities. Moreover, it provides small but high quality tuition centers a fair chance to reach potential students by enhancing their branding and marketing efforts. This model also offers a user-friendly tuition center management solution, helping centers manage batches, students, and fees efficiently. Additionally, GuruQ supports tuition centers in tutor hiring, ensuring access to qualified educators to enhance the learning experience.

Tuition centers partnering with GuruQ will also gain numerous advantages. They will be listed alongside the top coaching centers in India, expanding their visibility and credibility. GuruQs technology-driven operations help them fill their batches faster, optimizing resources and time. Marketing support through email blasts, Google Ads, and social media campaigns help attract a larger student base. By associating with GuruQ, tuition centers can increase their revenue by up to 10 times while strengthening their brand image through signage, in-app notifications, and sponsored listings. It also simplifies the admission process, eliminating payment follow-up hassles, and they also receive a prestigious certificate of association.

Onboarding tuition centers on GuruQ is a simple process. Tuition centers can register on the platform, provide their details, upload necessary documents, and pay a nominal registration fee. GuruQs team schedules a visit for verification, ensuring adherence to quality standards and safety norms. Once verified, tuition centers become a part of Indias best tutoring platform, gaining access to GuruQs extensive resources and support.

GuruQ emphasizes proper classroom settings, clean and hygienic spaces, air-conditioned and CCTV-enabled classrooms, essential teaching aids, Wi-Fi connectivity, compliance with fire safety norms, clean washrooms for both girls and boys, parking facilities, and access to drinking water for its partner institutes.

Infurnia Technologies raises $1.2 million in funding

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Infurnia Technologies, a startup specializing in cloud-native architecture design software, has secured $1.2 million in funding from a group of angel investors. The investment is led by Yogesh Choudary of Jaipur Rugs, boosting the company’s valuation to $17 million. This funding round increases Infurnia’s total funding to $3.7 million.

This Bengaluru-based startup received $240,000 in funding from angel investors, including Pallav Nadhani, the founder of FusionCharts, back in September 2020.

Founded in 2014 by Nikhil Kumar and Lovepreet Mann, Infurnia offers a cloud-based platform designed for architecture and interior design professionals. The platform allows designers to use their software anywhere, promoting seamless collaboration.

“We are raising funds on a need basis from angels primarily. I believe Choudary is an investment partner who has reinvested in us for the last four years. We needed product-oriented investors who understand it takes time to create a product in the tech space we are into,” Nikhil Kumar, CEO, Infurnia Technologies, said.

“Yogesh perfectly fits the bill, and he is very delighted with the growth we are able to pull off now that the product is mature. We are aiming for the sky, which is being the number one player in the design technology market, and we will achieve it through continuous growth and innovation. Money is being utilized in market outreach and continued product innovation,” Kumar added.

Currently, Infurnia primarily serves the Indian market with over 300 active clients and 10 international paying clients. In the first half of 2024, the company plans to expand into the North American market by establishing a local sales team.

Notable clients include Livspace, Hometown, Durian, Gopalan, Purva Streaks by Puravankara, and Homworks by Prominance.

Infurnia’s journey includes its first angel round of investment in May 2015, followed by a $160,000 investment from UAE-based venture capital firm Idein Ventures in January 2016.

PAYPAL and ICT ACADEMY Renew Partnership to Empower Underprivileged Youth in India

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ICT ACADEMY, supported by PAYPAL, launched the second edition of the “Student Enablement Program” at St. Joseph’s College of Engineering, Chennai to train students on advanced IT skills. The program aims to benefit 3,400 students, in engineering, arts and science institutions across Tamil Nadu, Telangana and Karnataka, by providing critical development opportunities for women and underprivileged youth. Upon completion of the program, 70% of the participants will secure job placement at various IT companies.

PAYPAL and ICT ACADEMY Renew Partnership to Empower Underprivileged Youth in India

The inauguration of the program was held at St. Joseph’s College of Engineering, Chennai on 17th October 2023 in the presence of more than 1,500 Students. The St. Joseph’s College of Engineering has always strived for advancing towards implementing latest technologies to upskill students and faculty.

ICT ACADEMY (www.ictacademy.in) is an initiative of the Government of India in collaboration with the state Governments and Industries. ICT ACADEMY is a not-for-profit society, the first of its kind pioneer venture under the Public-Private-Partnership (PPP) model that endeavours to train the higher education teachers and students thereby exercises on developing the next generation teachers and industry ready students.

Building on the success of our inaugural Student Enablement Program with ICT ACADEMY in 2022, we’re proud to expand the initiative to impact 35% more students this year. Education can be crucial to breaking the poverty cycle for underrepresented groups and enabling a more inclusive community. As an innovator in the payments industry and a leading employer in India, we remain committed to enabling the success of women and underprivileged youth by strengthening their work readiness with industry-relevant skills building,” said Mouli V., Vice President of Data, and India Site Leader, PAYPAL.

Speaking about this partnership, Hari Balachandran, Chief Executive Officer, ICT ACADEMY said, “Technology has become part of every business. As the technologies evolve faster, developing the skills of the people will be the key to employment and economic development of the nation. ICT ACADEMY continuously strives to develop a sustainable skill ecosystem right from the bottom of the pyramid. ICT ACADEMY does it by collaborating with corporate, government and academia. The collaboration with PAYPAL is a step forward to serve the deserving people of the society. The program will enable needy students to get skilled in technologies of the fourth industrial revolution being adopted by industries worldwide.” Salient features of the program include 140 hours of training on IT and professional skills, training 100 faculty members on advanced technologies and assigning the role of mentors, assessment for trained students, certification, placement facilitation for certified students, and other activities for students to enhance their skill.

Mr. Arunraj, I.A.S, Executive Director – ELCOT in his speech emphasised the need for women empowerment and various steps taken by Government Tamil Nadu in that direction.

Dr. Vaddi Seshagiri, Principal, St. Joseph’s College of Engineering, delivered the welcome address and highlighted the importance of the partnership.

Dr. B. Babu Manohar, Chairman, St. Joseph’s Group of Institutions, Ms. Sheela Pascal, Sr. Director – Data, PAYPAL India, Mr. Suresh Babu, Associate Vice President, ICT ACADEMY and Mr. Poornaprakash, State Head, ICT ACADEMY graced the inaugural ceremony with their esteemed presence.

With this renewed partnership, ICT ACADEMY and PAYPAL are poised to make a lasting impact on underprivileged youth, equipping them with the skills and knowledge needed to thrive in todays competitive world.

California Walnuts: A Timeless Icon of Taste and Tradition Arrives in India

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The California walnut harvest is now in full swing, and fresh, premium-quality golden walnuts have started arriving in India, just in time for the festive season. California walnuts are more than just a nutritious nut; they are a rich part of history, an icon of innovation, a pillar of health, and a dynamic force in the culinary world.

California walnuts

Situated in Californias Central Valley, a region almost entirely enclosed by majestic mountains, these walnuts are an integral part of an agricultural tapestry that includes over 250 other crops. When it comes to English walnuts, California proudly reigns supreme, producing a staggering 99% of all U.S. walnut production. With over 4,000 walnut growers, most of which are family-owned farms with multi-generational legacies, Californias walnut industry is a testament to dedication and tradition. These families maintain the highest standards of cultivation and processing, adhering to stringent Federal and State food safety regulations.

Commenting on the occasion, Ms. Pamela Graviet, Sr. Director of Global Programs California Walnut Commission & Board, said, “The Indian market has a love for high-quality foods and rich flavors. Nutrient-dense walnuts should be a top choice, and it remains our constant effort to raise awareness about California-grown walnuts and our multi-generational family farms dedicated to delivering this wholesome and delectable product. For over a century, Californias walnut growers and processors, known as handlers, have cultivated this industry with a focus on land stewardship, public health, and community welfare. Their unwavering commitment to producing this nutritious food source is matched by their active pursuit of innovative technologies and sustainable practices to reduce their environmental impact.”

She further added, “Innovation is synonymous with Californias walnut industry, both in the orchard and in the preparation and packaging of walnuts for global consumption. Remarkably, California has maintained an exceptional food safety record for over a century, a testament to its uncompromising commitment to quality. The growing conditions this season are ideal, delivering fresh, delicious and beautiful walnuts ranging from light to that California distinctive lightly golden hue.”

Recently, influencers, chefs, dietitians, and journalists from six countries, including India, were invited to experience the California walnut harvest which spans from early September through the first part of November. The harvest offered participants a unique opportunity to witness the journey of California walnuts from tree to table. Guests were greeted with a delightful array of walnut-infused culinary creations, followed by an up-close look at the process of growing, harvesting, and processing walnuts. They interacted with one of the many multi-generational families that make up the California walnut industry. Excitement filled the air as the mechanical harvesters, first developed in California, began shaking trees, causing walnuts to rain down, ready to be whisked away for cleaning and drying before reaching tables worldwide. As guests picked up the freshly harvested walnuts, they tasted the quality that growers know represents their hard work. Guests gained insight into the passion, commitment, and dedication required to grow these delicious and nutritious nuts and learned about the modern and meticulous process walnuts undergo to be available at local stores.

California walnuts are renowned for their mild, earthy, nutty, buttery flavor and unparalleled texture, setting them apart as a delicious snack or as a prized ingredient for both sweet and savory culinary creations. They are available at all grocery stores and e-commerce sites. When buying walnuts, look for the California Walnuts logo mark, “California” or “Californian” on the package or produce of the USA to ensure that you are buying genuine high-quality California walnuts.

About California Walnuts

More than 99% of the walnuts grown in the United States are from California, produced by multi-generational farmers encompassing 4,000 family orchards. California walnuts, known for their excellent nutritional value and quality, are shipped around the world all year long. With the focus on plant- forward eating, walnuts are enjoyed in a variety of innovative and delicious ways, such as a plant-based meat alternative, walnut milk and walnut butter. They are recognized as a versatile and nutritious snack, a topper for yogurt and oatmeal, and the perfect nut to pair with salads and vegetables. To explore recipes and learn more about California walnut growers, industry information and health research, visit californiawalnuts.in.

Infosys, IndusInd Bank, Jio Platforms, and Stellantis Acknowledged for Creative Use of Open Source at the Red Hat APAC Innovation Awards 2023 for India

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Red Hat, Inc., the world’s leading provider of open-source solutions, announced the winners of the Red Hat APAC Innovation Awards 2023 for India today. Red Hat is honoring the remarkable achievements of Infosys, IndusInd Bank, Jio Platforms, and Stellantis for their outstanding use of Red Hat solutions to foster innovation, showcase their ingenuity, and elevate customer experiences in an ever-evolving business environment.

In an environment of economic fluctuations and technological upheavals, Red Hat continues with the theme “Explore what’s next” at this year’s Red Hat APAC Innovation Awards. This year’s accolades celebrate the exceptional accomplishments of organizations in adapting to today’s uncertain landscape, proudly recognizing the digital transformation achievements of 31 organizations from 13 countries in the region. By harnessing the power of open source creatively, these remarkable organizations propel themselves forward while prioritizing unforgettable customer experiences. Their unwavering resilience, strategic thinking, and ingenious utilization of Red Hat solutions have allowed them to conquer new business challenges and stay one step ahead of evolving customer demands.

Amid growing uncertainty, innovation still stands tall as a priority for businesses. According to the Red Hat 2023 Global Tech Outlook, businesses continue to rank innovation as a powerful differentiator, allowing organizations to rise above their competitors and forge their unique path to success. The awards’ five categories focus on key technologies that can help businesses stand out amid today’s uncertain landscape: Digital Transformation, Hybrid Cloud Infrastructure, Cloud-native Development, Automation, and Resilience.

The winners were selected based on the positive impact their Red Hat deployments had on their business goals. They showcase the possibilities of open source, pushing the boundaries of business processes, productivity, innovation, and resilience.

Category: Automation and Resilience

Winner: Infosys Limited

Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of its people work to amplify human potential and create the next opportunity for people, businesses, and communities. The company enables clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, it expertly steers clients, as they navigate their digital transformation powered by cloud and AI. It enables them with an AI-first core, empowers the business with agile digital at scale, and drives continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from Infosys’ innovation ecosystem. Infosys is deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.

Infosys wanted to move away from legacy automation tools to provide a risk-free environment for their internal projects and clients. Infosys collaborated with Red Hat to achieve automation at scale with Ansible playbooks. The company also wanted to develop an end-to-end automation solution to help address security vulnerabilities by adhering to security standards, best practices, and IT service management (ITSM) requirements. This collaboration enabled the implementation of over 60 automated workflows and reduced the process of legacy patching by nine days.

Category: Digital Transformation and Hybrid Cloud Infrastructure

Winner: Jio Platforms

Jio Platforms Limited is the digital arm of Reliance Industries and is responsible for digital transformation across Reliance Industries, India’s largest and most profitable private sector company. Having established a market positioning in several sectors in India, such as retail, oil, petrochemicals, and digital services, Reliance Jio Infocomm Limited, a subsidiary of Jio Platforms Limited has built a world-class all-IP data-strong future-proof network using 4G LTE and 5G technologies. Jio Platforms is powering the 5G rollout of Reliance Jio with its indigenous 5G stack. It offers an end-to-end 5G solution consisting of 5G Radios, a complete 5G Core Network, AI/ML ATOM platform for 4G/5G, MANO for cloud CNF orchestration, ACI for cloud infrastructure deployment as well as the Cloud-native OSS/BSS Platforms.

The exponential growth of data has forced telecommunication companies worldwide to accelerate their digital transformation journeys. To thrive in a hypercompetitive and price-sensitive market like India, Jio Platforms had to shift from its vertical cloud silo approach to a multi-hybrid cloud platform.

JPL has deployed its Cloud Native 5G/4G Combo Core for millions of subscribers and massive user plane capacity in the Jio network. To meet the challenges of scalability, reliability, and interoperability, the base operating system used by these solutions is Red Hat Enterprise Linux (RHEL).

RHEL facilitates efficient workload migration, provides consistent management, visibility, and security capabilities from development to production, for public, private, hybrid, and multi-cloud infrastructure. It provides cross-infrastructure consistency, workload portability, and streamlined operations needed to move traditional and containerized workloads from the datacenter to edge locations.

Category: Digital Transformation and Cloud-Native Development

Winner: Stellantis

Stellantis is one of the world’s leading automakers with a constellation of 14 iconic automotive brands globally. In India, Stallantis has invested over €1 billion since 2015 to develop a sustainable footprint in the country and grow its brands. India is a major sourcing hub for vehicles, components, and mobility technologies and hosts the heart of Stellantis ICT while strongly contributing to global software development. With a team strength of 700+ empowered employees, aligned across the business, IT functions, software, and CoEs in Chennai, Bengaluru, and Hyderabad, Stellantis Digital Hubs in India drive continuous digital innovation and encourage software enhancement to create customer delight, operational excellence, and competitive advantage.

Stellantis needed to transform its IT infrastructure to increase operational continuity, decrease downtime in its production process, and eliminate as much of the error-prone human interaction in the release process as possible. The company also needed to create environments that are easily portable and apply a continuous integration (CI) and continuous deployment (CD) methodology to infrastructure.

The implementation of Red Hat OpenShift Service on AWS enabled Stellantis to integrate multiple IT systems and help developers collaborate within and across projects, resulting in flexibility and faster development of apps. Stellantis will also benefit from the platforms automated scalability capability to optimize costs by scaling the additional compute capacity in the cluster as and when load increases on the application.

Category: Digital Transformation and Cloud-Native Development

Winner: IndusInd Bank

IndusInd Bank has designed the Enterprise Payment Hub with the help of Red Hat OpenShift Container Platform, a scalable and robust centralized payment system, thereby helping IndusInd Bank in offering seamless customer service further enhancing its customer experience.

The Digital Transformation category recognizes organizations that have successfully made the transition into a truly digital enterprise, overcoming and addressing business challenges with digitalization.

The Automation category celebrates organizations that have effectively harnessed automation to transform their organizational processes, workflows, and tasks.

The Hybrid Cloud Infrastructure category showcases organizations that have demonstrated creative and collaborative use of public, private, and open cloud deployments.

The Cloud-Native Development category highlights organizations that have effectively used agile methodologies to speed up the innovation and development of successful business applications that have made an impact on customers.

The Resilience category shines a spotlight on organizations that have successfully overcome business challenges and disruption, continuing to exceed business goals and customer expectations with open source.

Supporting Quotes
Marjet Andriesse, Senior Vice President and General Manager, APJC, Red Hat

As the business landscape continues to change in 2023, the Red Hat APAC Innovation Awards 2023 celebrate the creative successes and achievements of our customers. Organizations today are increasingly turning to capabilities like data analytics to embark on transformation initiatives and cloud security features to protect their businesses. Furthermore, they have to manage all these while addressing tightening resources and manpower. That is why open source continues to be a game-changer for businesses, giving them the flexibility and resilience to adopt technologies, both existing and emerging, to craft their own unique path to success.”

Balakrishna D.R., Executive Vice President and Global Head – AI and Automation, Application Development & Maintenance, Infosys,

With expertise in next-gen digital services, Infosys is empowering businesses to accelerate their cloud transformation journey and realize business value. We believe it is critical to prioritize a secure environment to ensure our customers can use our digital services with peace of mind, without being exposed to cyber risks. Through this strategic collaboration with Red Hat, we will continue to help our clients achieve automation at scale, and accelerate growth and innovation.”

Kiran Thomas President and Chief Executive Officer, Jio Platforms

Jio has disrupted the digital services landscape in India with its modernized, no-legacy, digitally evolved, data & AI-driven platform and infrastructure. Jio is pleased to be able to tap into the ecosystem support that Red Hat offers and to create an edge by leveraging its solutions and deliver a superior network experience for every consumer, home, and enterprise in India and the world.

Riby Sony Thomas, India ICT Head, Stellantis

Stellantis has been at the forefront of leading digitization across the auto value chain globally and in India. With Red Hat, it has been a great journey and fruitful collaboration to drive the uptake of integrated digitization and offer a smarter, customer-centric future.

Adopting the managed service offering provided by Red Hat made a big difference for Stellantis. The expertise and support of a trusted partner have helped Stellantis maintain its IT infrastructure and ensure operational continuity for some of the business-critical applications and interfaces. This helped Stellantis focus on its core business and what it does best, while Red Hat handled the operational aspects of the platform.”

Mr. Shiv Bhasin, Chief Transformation Officer, IndusInd Bank,

This award is a testimony of our effort in transforming IndusInd Bank into a state-of-the-art digital bank. We have enhanced the bank’s market positioning with a faster and more reliable payment ecosystem using Red Hat’s enterprise open source technology.”

Additional Resources

Learn more about the Red Hat APAC Innovation Awards 2023

Learn more about Red Hat Summit: Connect

Connect with Red Hat

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About Red Hat, Inc.

Red Hat is the world’s leading provider of enterprise open source software solutions, using a community-powered approach to deliver reliable and high-performing Linux, hybrid cloud, container, and Kubernetes technologies. Red Hat helps customers integrate new and existing IT applications, develop cloud-native applications, standardize on our industry-leading operating system, and automate, secure, and manage complex environments. Award-winning support, training, and consulting services make Red Hat a trusted adviser to the Fortune 500. As a strategic partner to cloud providers, system integrators, application vendors, customers, and open source communities, Red Hat can help organizations prepare for the digital future.

Forward-Looking Statements

Except for the historical information and discussions contained herein, statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the company’s current assumptions regarding future business and financial performance. These statements involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially. Any forward-looking statement in this press release speaks only as of the date on which it is made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements.

Red Hat, Red Hat Enterprise Linux, the Red Hat logo, JBoss, Ansible, Ceph, CloudForms, Gluster, OpenShift and OpenStack are trademarks or registered trademarks of Red Hat, Inc. or its subsidiaries in the U.S. and other countries. Linux is the registered trademark of Linus Torvalds in the U.S. and other countries.

Can SIP Investments Help you Make Money in the Long Run

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Over the years, SIP investment has become quite popular in India. So much so that in February 2023, its contributions reached Rs. 1,41,696 crore. So, what is it about SIP that has made it so popular One of the reasons for that is that you can make investments in small amounts. Another reason is that SIP investment plans can be set up easily through distributors or the fund house’s website. It can prove to be a suitable option when you do not have a lot of money to invest upfront. This way, you invest a little every month, and you can grow your investment amount gradually. Here, we will discuss whether SIPs can help you make money when looked at from a long-term perspective.

SIP investments

What does SIP investment mean

A Systematic Investment Plan (SIP) is a strategy that allows investors to invest their money in small amounts on a regular basis and gain long-term benefits from it. A predefined amount is withdrawn from the investor’s account on a monthly or weekly basis and goes into mutual funds.

Advantages of Systematic Investment Plan

Here are some advantages of SIP that can help you gain an idea of how SIP investment helps make money in the long run:

Disciplined investing: With SIP, money is withdrawn regularly from your bank account for investment. This investment will eventually bring discipline to the way you handle money by committing you to invest small amounts of money regularly. Thus, you can ultimately grow your corpus over time. You can consider starting an SIP investment with Bajaj Finserv Flexi Cap Fund for long term growth.

Flexibility: SIP for wealth creation allows you to be flexible. It helps avoid long-term obligations of large amounts like investing in Public Provident Funds (PPFs) or Unit Linked Insurance Plans (ULIPs). This allows you to invest a portion of your maximum budget elsewhere and earn money from it too. These are open-ended funds that may be withdrawn whenever you choose, as opposed to fixed term funds. However, it is to be kept in mind that withdrawing from some SIPs before a specified period comes with some minor costs in the form of exit load.

Compounding: When you opt for an SIP investment, the returns earned are reinvested in your principal investment until maturity. As a result, your investment is exposed to the influence of compounding throughout time, assisting you with exponential development.

Stop whenever: Most SIPs do not charge a fine or penalty if you wish to stop the investment at any point. You just need to go to your Demat account or your mutual fund account or to the distributor and opt out of the plan. This is an advantage of SIP over traditional investments like Fixed Deposits/Recurring Deposits. This ultimately helps you commit to a habit of investing, even with small amounts. The act of investing opens prospects to making more money.

How SIP helps earn money

The process of SIP follows two principles, rupee cost averaging and compounding. The following is an explanation of how these two principles work in tandem to increase profitability in the long run:

Rupee cost averaging: SIPs follow the principle of rupee cost averaging, thus decreasing market volatility and increasing overall returns.

To make this concept simpler, suppose you initially buy a mutual fund at a higher value, then you will get fewer units for a certain price. However, the value reduces at some points, and thus you get more units for the same price in the subsequent cycles. This ultimately averages out the overall value of your mutual fund, which is what rupee cost averaging is all about.

Compounding: Because of compounding, even saving money in smaller amounts for extended periods of time can have a significant impact in the long run. The money you invest grows over time as it earns returns. Further, the interest earned gets reinvested. Thus, your returns also generate subsequent returns. The final amount that is received on maturity is determined by the return rate applied to your contributions.

With these two principles functioning together, SIPs help you get the same units of mutual funds in each cycle on average while ensuring that your investment gains as much interest as possible. Ultimately, this helps you beat inflation over the long run and even make some extra money.

To conclude, we explored what SIP means and how SIP investments can help make money in the long run. We have discussed the benefits and shown how SIPs can help investors overcome market volatility and make use of the power of compounding. However, this is possible as long as investors are disciplined, patient, and goal-oriented. It is recommended that investors periodically review their SIP performance and make the necessary tweaks to their investment strategy as needed. You can easily start your SIP journey with the help of Bajaj Finserv AMC, today. Choose your preferred scheme by visiting the investor portal and start your SIP in a hassle-free way.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Elegar Kerpen, Formerly LEONI India, to Grow 3 Fold after Acquisition by Ravicab Cables

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Pune based Elegar Kerpen, estimates 3 fold growth rate after its parent company Ravicab Cables Private Limited acquired LEONI Cable Solutions India Private Limited, with a hundred percent equity stake. Following divestiture by LEONI AG Group in 2022, LEONI India – the Indian subsidiary of the German company that enjoys a century-old vintage in the wire and cable industry, repositioned itself as Elegar Kerpen Kabel India. The brand name Elegar was thoughtfully derived from a combination of the words Electric and Garden or Hub.

Elegar Kerpen, formerly known as LEONI Cable Solutions India, is set to achieve an impressive three-fold growth by 2026-27

The strategic acquisition enabled the Pune-based progressive wire and cable company of Elegar Kerpen to leverage LEONI India’s market expertise in specialized wires and cables in oil and gas, specialty chemicals, refineries, renewable energy segments, and the Indian Railways. Following the acquisition, Elegar inherited the brand name Kerpen, which has a glorious 100-year-old history in the oil and gas segment. This strategic move has enabled Elegar to expand its product line and explore new market territories, including the Indian subcontinent, the Middle East, the UK, South East Asia, and Australia, to achieve growth.

The Chairman and Managing Director of Elegar Kerpen, Mr. Hemant K Mehta, shared his thoughts on the acquisition and explained the company’s growth plans, saying, “We are excited upon the completion of this acquisition in 3 months and subsequent rebranding. This acquisition brings world-class equipment, German technology, and trained professional manpower to grow the business three folds by 2026-27, and the synergies it will bring on procurement, sharing best practices, common professional advisors, and customer focus between Elegar Kerpen and Ravicab Cables.”

Ravicab Cables is an experienced specialized cable manufacturer in India with a robust track record of over 20 years in the manufacturing, marketing, and distribution of wires and cables. The company caters to the varied needs of domestic, industrial, transport applications, and specialty market segments, making it a trusted name in the industry. It harbors two state-of-the-art manufacturing facilities spread over 1.2 lakh square feet and an advanced laboratory equipped to perform all tests according to the mandated national and international standards. Whereas Elegar Kerpen, with a 3,00,000 square feet facility featuring state-of-the-art German quality technology and infrastructure, specializes in designing and manufacturing premium quality cables. Together, the two companies are committed to enhancing their product range and services to add more value to the industry.

Elegar Kerpen was associated with several prestigious projects, including the Atal Tunnel, Reliance Jamnagar refinery, Vande Bharat Express train, Pune Metro Rail, and various Shell Energy projects. As part of its clean energy initiatives, Elegar Kerpen has supplied DC string cables to solar power generation projects with a capacity of 10 GW. The wire and cable manufacturer already enjoys a noticeable presence in Russia, Singapore, UAE, India, and China and is expanding in Europe. The company has recently appointed Business Partners in the UAE and is considering the appointment of partners in other Middle-East countries to enhance its market presence.

As a cable manufacturer with a global presence, Elegar Kerpen is ready to make impactful strides in the wire and cable manufacturing industry by delivering cutting-edge products that meet national and international quality standards. The company will continue to leverage its German technology, infrastructure, and trained manpower to enhance its products and customer service. By pursuing its drive towards innovation and sustainability, Elegar Kerpen will cater to evolving customer needs to achieve its growth and expansion objectives.

The Indian Performing Right Society Limited (IPRS) is Now Ranked as the 4th Largest Society by Revenue in the Asia-Pacific Region Per CISAC Global Collection Report

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In the recently unveiled CISAC Global Collections Report 2023, based on the 2022 collections data, the global music landscape experienced a resurgence, with total global royalties collected from creators reaching a record high of EUR 10.83 billion in 2022 – up by a remarkable 28% – as the world broke free from the pandemic. This growth was fueled by a rebound in live and public performances and a continuous robust expansion in digital revenue. The total sum of creators’ global royalties emanating from digital sources is a whooping EUR 4.1bn. In barely little over a decade, streaming has transformed life for CISAC members and the five million creators it works for.

Global Collections and Annual Growth (EUR billion)

According to the CISAC report, The Indian Performing Right Society Ltd. (IPRS) ranked as the 4th largest Society by revenues in the Asia-Pacific region andIndia ranked 23rd amongst the top 50 societies in Collections from Music globally, growing from the earlier 47th position in 2018.

The report reveals that IPRS collected Euro 68 million in revenue in 2022, a remarkable surge of 92.5% over the previous year. These results are indicative of Indias thriving music industry, displaying notable overall growth. It is also a result that corroborates the effort IPRS has put toward making this eye-popping turnaround a reality.

In India, the growth was attributed to the recovery in General Public Performance – Events / Background, Television broadcasting income revenue and the increased digital revenues permeated through the year.

This highlights a positive development as the Society reduced its reliance on digital revenues, whose proportion of the income pool fell from more than 80% in FY 2021-2022 to 67.1% in FY 2022-2023. This diversification gives IPRS more stability and indicates its growing penetration in the market. The outcome was wonderful news for both the music industry as a whole and for the authors/composers and music publishers in particular. The digital revenue growth from 2019 to 2022 soared by an overwhelming 532.7%, reflecting Indias evolving music industry landscape.

The Government has also played a significant role in fortifying the creators rights and strengthening IPRSs presence in the industry. While we are thankful for this support, we look forward to the authorities for adequate enforcement of the music licensing norms for better compliance.

Furthermore, IPRS has undertaken the significant responsibility of fostering the development of similar collection societies in neighboring countries. This commitment extends to the support and promotion of sister collection societies in countries such as Nepal, Sri Lanka, and Bangladesh, ensuring they receive the necessary attention during their initial stages of establishment.

Commenting on the same Mr. Javed Akhtar, Chairman of IPRS said, “IPRS, as a Music Copyright Society has been one of the strongest proponents of the rights of the music creator and publisher community in India. It has stood for credit and royalties for its members against odds of non-compliance and reluctance of music users to procure license for music consumption. It is indeed a matter of immense pride that IPRS has managed to garner the outstanding result of ranking the 4th largest Asia Pacific society by collection. The story of the toil behind this feat and the perseverance of our team members is a saga for all time and needs special mention. The age of music streaming has brought in a major shift in music consumption and has further intensified the role of collection societies like IPRS who must constantly tap in and be ever receptive to a stream of continuously emerging revenue models.

With the scourge of the pandemic behind us, we at IPRS are grooming ourselves and the large Indian music community to be abreast with the opportunities and the challenges AI is bound to bring into the new mix of the music ecosystem in the digital age.”

Sharing his views, CISAC President Bjorn Ulvaeus, looks ahead to the future impact of AI on creators’ collections. “This year’s results show that the collective management system, despite all the enormous challenges it faces in adapting to digital, is still robust and effective. CMOs have the backs of the creators they serve and are now delivering more money to more creators than ever before. Fresh from COVID and the economic squeeze, what we now face is another serious, existential challenge – that of Artificial intelligence. AI will radically change the world for creators and the creative industry. It demands international leadership and a strong united front from all parts of the creative industry.”

Commenting on the CISAC Report, Mr. Rakesh Nigam, the CEO of The Indian Performing Right Society Limited (IPRS), said, “We are incredibly proud of the IPRSs remarkable achievement as the 4th largest Society by revenue in the Asia-Pacific region, according to the recent CISAC Global Collections Report. This recognition reaffirms our efforts in safeguarding the royalty rights of our creators. The significant growth, particularly in the digital domain, highlights the ever-evolving music landscape. Licensing agreements with major media entities and a notable increase in income from public performances of music have contributed to a substantial boost in revenues. The challenges in compliance remain an area of serious concern. In the changing music landscape inundated with challenges and opportunities, we remain committed to fostering a thriving environment for our creators and continuing our efforts to better Indias position on the global music stage.”

About IPRS

IPRS is India’s only Copyright Society registered under the Copyright Act of 1957, and counts more than 10,000 of India’s best-known authors, composers, and music publishers as its members. IPRS is authorized under the Copyright Act, 1957 to carry on the business of issuing and granting licenses in respect of musical works and literary works associated with the music assigned to it by its members as well as collect and distribute authors’ statutory royalties, for the exploitation of these works either by way of live performances and/or sound recordings through any medium except when exhibited as a part of a cinematograph film shown in a cinema hall. 

For more information, please visit iprs.org.

About CISAC

CISAC – the International Confederation of Societies of Authors and Composers – is the world’s leading network of authors’ societies (also referred to as Collective Management Organizations, or CMOs). CISAC protects the rights and represents the interests of creators worldwide. With 225 member societies in 116 countries, CISAC represents over four million creators of music, audio-visual, drama, literature, and visual arts.