Archive: July 30, 2022

2nd North-East India Festival: India’s Tourism Industry to be Explored by Thailand

30th Jul, New Delhi: The second edition of the North East Festival began on Friday with discussions starting from the very start, as top Thai tour operators interacted with tourism stakeholders from the North-East region. The meeting, organized at the Centara Grand Hotel, began with a presentation by the festival’s chief organizer Shyamkanu Mahanta. Moderated by Meghalaya’s Tourism Director Cyril Diengdoh. It also saw presentations on Arunachal Pradesh, Assam, Mizoram, and Nagaland.

In her welcome address, Ambassador of India to Thailand Suchitra Durai termed this a pathbreaking initiative to promote the Indo-Thai relationship. Various Ministers, including Union Minister R K Ranjan, along with top officials of tourism agencies in Thailand spoke about shared efforts to promote tourism between both regions.

Minister of State for External Affairs, Rajkumar Ranjan Singh was also present at the tourism seminar. He tweeted about his address, “Addressing at the Seminar on Tourism Opportunities in North East India during the 2nd #NorthEastIndiaFestival in Bangkok, highlighted the tourism opportunities in NE region of India and invited people of Thailand to explore the beautiful region.”

Nagaland Chief Minister Neiphiu Rio, on the other hand, termed the festival as a “historic initiative which will change the entire dynamics of India’s Act East Policy”.

Durai hosted a special lunch session which was attended by Chief Ministers, Cabinet Ministers, and top officials from the North-East besides Bangkok-based industrialists and policymakers.

The main festival has already kick-started today and Deputy Prime Minister of Thailand, Mr. Jurin Laksanawisit graced the festival with his presence. Chief Minister of Meghalaya, Conrad Sangma tweeted, “North East welcomes the Hon’ble Deputy Prime Minister of the Kingdom of Thailand, H.E. Mr. Jurin Laksanawisit to the North East India Festival in Bangkok.”

Song, dance, and fashion events, exhibitions of MSME products, state-specific exhibitions, North-Eastern cuisines, collaborative art shows, and business-to-business meets are on the agenda, for today and tomorrow.

NSW and India Partner Up For Tech Success

NSW’s tech success in India continues to grow with the announcement of four new partnerships between NSW and Indian technology businesses.

NSW Premier Dominic Perrottet and the Minister for Enterprise, Investment and Trade Stuart Ayres met with Indian tech companies today in Bengaluru to promote collaboration between NSW and India and congratulate the businesses on their upcoming partnerships.

“NSW is working to attract Indian technology investment into NSW across subsectors including edtech, medtech, fintech and space technologies,” Mr Perrottet said.

“We are focused on linking the NSW and Indian technology ecosystems and through the expansion of our international network and programs we are providing better support for NSW exporters to reach their target markets and help open more doors.

“Through these networks we have helped facilitate four new tech partnerships between NSW and Indian firms. I’d like to congratulate these businesses and welcome more like these.”

Minister for Enterprise, Investment and Trade Stuart Ayres said today’s business event with Indian technology companies provided the opportunity to showcase NSW technology capabilities to potential partners and investors.

“Sydney is Australia’s technology hub and a thriving technology sector with innovative precincts like Tech Central and our Startup and Scaleup Hubs making our state even more attractive to companies looking to grow in the Asia-Pacific region,” Mr Ayres said.

“Being on the ground in India has given us the opportunity to discuss with Indian businesses the growing opportunities available and see firsthand the important role our Going Global Export Program and international offices play in bringing business and partners together.”

Details of the four new tech partnerships between NSW and India:

• India-headquartered HCL Technologies has signed a Memorandum of Understanding with the Sydney Quantum Academy to strengthen HCL’s Quantum computing capabilities through education and development opportunities including internships for Australia-based students from Sydney Quantum Academy member universities. Quantum computing is an emerging sector in NSW. By 2040, Australia will potentially have 16,000 quantum jobs generating $4 billion in revenue.
• NSW deep technology incubator and operator of the National Space Industry Hub located within Sydney’s Tech Central, Cicada Innovations and Bengaluru-based Mach33.aero have signed a collaboration agreement to provide launch pad support to startups and medium sized enterprises from the two geographies operating in deep technology. Bengaluru is the world’s fourth largest tech cluster and has 40 per cent of all startup venture capital in India. It is the epicentre of India’s IT-enabled services, pharmaceuticals and biotechnology sectors, home of India’s highly successful space program, and India’s largest startup ecosystem, with around 5,000 startups.
• Tamworth-based Birth Beat has formed a partnership agreement with Bengaluru-based Cloudnine hospitals to promote its online maternity training programs in India. Cloudnine has 19 hospitals and clinics in Bengaluru, Chennai, Gurugram, Pune, Mumbai and Chandigarh. Birth Beat connected to Cloudnine through participation in the NSW Government’s Going Global Export Program, Health and Medtech to India. Medtech is a leading sector in NSW contributing $2 billion to our state’s economy.
• Sydney-based life sciences company and participant in the NSW Government’s Going Global Export Program Health and Medtech to India SkinDNA, has entered a three-month trial program with Indian skin clinic chain Kosmoderma Healthcare Private Limited which operates seven clinics across Bengaluru and Chennai.

Spice Money Offers self-employment opportunities to 92,000 Nanopreneurs as Spice Money Adhikaris in Madhya Pradesh

Spice Money is empowering rural citizens in Madhya Pradesh with essential banking and financial services

Begamganj, Raisen, July 29, 2022: Spice Money, India’s leading rural fintech revolutionising the way Bharat banks, has witnessed exponential growth driven by Spice Money Adhikaris or nanopreneurs in Madhya Pradesh, where the Adhikari network increased by a whopping 223.22% Year on Year (YoY). Spice Money currently enjoys a strong Network of more than 10,00,000 Adhikaris in India, out of which almost 92,000 are based in Madhya Pradesh.

For many years, the rural population had to travel miles away to go to a bank branch for their banking needs. This acted as a major roadblock in bringing the rural citizens to the formal banking system. Spice Money, with its vast network of Spice Money Adhikaris is addressing this access challenge by providing banking and financial services to the last mile. Another major challenge that the rural population faces is the rising unemployment rate due to the lack of employment opportunities. With the launch of Zero Investment Program in February 2021, Spice Money has created a platform for aspiring nanopreneurs who can become self-reliant and financially independent just with the help of a smartphone and internet connection by becoming a Adhikari on Spice Money network, in zero cost.

Spice Money Adhikaris bridge the gap for the underbanked/unbanked by offering digital banking and financial services to their local communities, through the Spice Money app and web portal. The company, through its Adhikari network, provides assisted services spanning across cash withdrawal, cash deposit, bill payments and recharge, insurance, loans and travel booking services. In FY22, Spice Money nearly doubled its nanopreneur (Adhikari) network hitting 1 million milestone. This network is spread across rural India covering more than 95% rural pincodes, 2,50,000 villages, 700+ districts serving a base of over 100 million consumers. Spice Money has also established the largest mini ATM network with more than 1 lakh mini ATMs across the country with 9,298 mini ATMs in Madhya Pradesh alone. Along with this, the company also witnessed an80% rise in gross transaction value (GTV) in the state.

Sanjeev Kumar, Co-Founder & CEO, Spice Money, said, “Madhya Pradesh is one of the key markets in Spice Money’s growth story in India. The exponential rise in the Adhikari and micro-ATM network in the state is indicative of the significant interest in entrepreneurial business opportunities among the rural population and the crucial role Spice Money Adhikaris play in furthering digital and financial inclusion. We will continue to focus on our mission of empowering rural nanopreneurs and offering a path towards financial freedom to residents of the remotest corners of Madhya Pradesh. I’m confident that Spice Money will continue bringing the underserved population in the state under the umbrella of financial inclusion over the years.”

With the sturdy foundation of the learnings and successes gained from the rural fintech operations, Spice Money has also ventured into the rural travel space with the launch of Travel Union, India’s first B2B rural travel-tech platform that addresses the key challenges faced by rural travel agents and their customers. Travel Union has also already been seeing a surge in travel agents of Madhya Pradesh becoming Travel Union Members to serve the rural travel needs, indicating the immense growth potential for the sector and customers in the state.

NSE IFSC-SGX Connect Inaugurated by Hon’ble Prime Minister of India Shri Narendra Modi

The NSE IFSC – SGX Connect was formally launched by Hon’ble Prime Minister of India, Shri Narendra Modi, in the esteemed presence of Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs, Shri Bhupendra Patel, Hon’ble Chief Minister of Gujarat, Shri Pankaj Chaudhary, Hon’ble Union Minister of State for Finance, Dr Bhagwat Kishanrao Karad, Hon’ble Union Minister of State for Finance, Shri Kanubhai Desai, Hon’ble Minister of Finance, Govt. of Gujarat and Shri Injeti Srinivas, Chairman, IFSCA at an event organized at GIFT City today.

National Stock Exchange of India Ltd. (NSE) and Singapore Exchange (SGX Group) announced today that the NSE IFSC-SGX Connect is live and ready to trade and clear Nifty equity derivatives for global institutions, a major step towards further connecting the world’s investors to India.

With India’s economy projected to become the world’s third largest, the NSE IFSC-SGX Connect presents an innovative pathway for international investors to participate in India’s growth story. Through SGX Group’s unique trading infrastructure in GIFT City, investors in India and around the world can now trade Nifty contracts listed on NSE IFSC seamlessly and efficiently with global risk-management and clearing standards. Investors also have real-time access to NSE IFSC market data.

The Connect enables orders from SGX Group’s trading members to be routed to NSE IFSC for trading and execution, with clearing and settlement through NSE IFSC Clearing Corporation Ltd. and SGX Group’s Derivatives Clearing as the central counterparty.

The following members will be onboarded today and remaining members will be progressively onboarded in the coming months.

• Deutsche Bank AG
• Morgan Stanley Asia (Singapore) Securities Pte Ltd.
• OCBC Securities Private Limited
• Orient Futures International (Singapore) Pte. Ltd.
• Phillip Nova Pte. Ltd.
• StoneX Financial Pte. Ltd.
• UBS AG

Shri Ashishkumar Chauhan, MD & CEO, NSE said, “Today is a historic day for NSE IFSC as the NSE IFSC-SGX Connect has commenced. This connect will consolidate the liquidity pool for Nifty products in the NSE IFSC exchange and will facilitate access for global market participants in GIFT City. Consequently, it will give a boost to the IFSC capital markets ecosystem and is an important step towards making GIFT City a preferred global destination for capital market activities. I take this opportunity to thank the Government of India, IFSC Authority, GIFT City authorities, SEBI, RBI and the government and regulatory authorities in Singapore for their guidance and support to NSE and SGX Group in making the connect a reality.”

Shri Loh Boon Chye, CEO of SGX Group, said, “The roll out of the Connect is a significant milestone for SGX Group and NSE and it brings us one step closer to combining the growing domestic and international liquidity pools for Nifty products. We are confident that the Connect will be the key platform that connects the world to India, offering global investors unprecedented access to India’s capital markets.”

SGAnalytics expands its global reach with its new London office

New Delhi, 29 July 2022: SG Analytics, a Global Insights & Analytics firm, opened its new office in Berkeley Square Park, London, as part of its global growth strategy and scale-up efforts.

Set in the heart of London’s business activities, SG Analytics’ new office in Berkley House will assist with the company’s growth in 2022 and beyond. The new office at Berkley Square House provides more space to meet with clients and partners, expands the company’s presence in the heart of London, and enhances collaboration opportunities serving the diverse needs of businesses.

Earlier this year, Simran Wadhwa, one of the four partners at SG Analytics, moved to the UK to expand operations and enable deeper penetration in the region. She was instrumental in opening SGA’s New York office, a few years ago.

Simran, who has been part of SG Analytics since its inception in 2007, played a key pivotal role in growing the business across the US and the UK. In her current role, Simran is leading SG Analytics’ growth in the Europe region across Data Modernisation and ESG service lines and continues to manage its strategic accounts across the line of multiple businesses.

Commenting on the new office in London, Sid Banerjee, CEO, SG Analytics said, “Our business continues to grow at a rapid pace, and the UK and Europe’s growth remains a part of our long-term strategy, and there is no one better equipped to lead these growth initiatives other than Simran. And opening a new office in Berkley Square is a fantastic plus in continuation of SG Analytics’ global expansion plans.”

“I am excited about our new office at Berkley Square House. It is at the heart of business activities. Our proximity to the global organisations will certainly help us strengthen our relationships and find solutions to their business problems. Being a thriving organisation, we are geared up to make an impact for our clients, enabling faster & value-driven decision-making,” said Simran.

CBREX empowers Talent sourcing firms of all sizes to harness the power of digitisation

The Covid-19 pandemic underscored how technology is now the mainstay of every organisation’s operations. Digitisation has decisively impacted almost every facet of operations, changing work cultures for all time to come. Businesses are constantly looking for technologies that will not only set them apart, but also help them survive in the new normal.

Curiously though, the recruitment industry remains a laggard. Even as employee engagement, payroll management, and other functions moved into the digital realm, recruiting (for enterprises/employers as well as talent sourcing firms) remained largely traditional.

The recruitment industry is characterised by a large number of small/single-person firms making it a highly competitive industry. This highly competitive environment presents challenges to both talent sourcing firms and employers. Talent sourcing firms and enterprises are keen to leverage technology to make the recruitment process more efficient. However, only a small number of larger talent sourcing firms have the resources to invest in embracing digitisation and technology, leaving most of the industry struggling.

CBREX makes all the difference here. CBREX facilitates seamless interaction between talent sourcing companies and enterprises/employers by offering a single platform for all interactions. Employers can post all their job openings on one platform, and talent sourcing firms and consultants can fill them on the same platform.

CBREX provides talent sourcing firms (of all sizes) with access to validated open requisitions from enterprise employers, including high-margin international mandates and niche talent needs. Furthermore, CBREX enables enterprises to engage with hundreds of talent-sourcing firms to fulfill all their talent requirements – high volume, niche, hard-to-fill, and even international – with one invoice payable to CBREX. From onboarding reputable firms to setting up requirements screening criteria, to scoring resumes for fit, and helping recruiters schedule candidates for interviews, CBREX does it all. CBREX has helped over 100 companies close more than 2000 positions via the platform over the last 12 months.