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Archive: February 28, 2023

Program on Advantage MSME – The Big Strides

Program on Advantage MSME - The Big Strides

Kolkata, 28th February, 2023: The MSME Development Forum-West Bengal Chapter along with NCLT Kolkata Bar Association, Concern for Calcutta and Multi Commodity Exchange of India Limited (MCX) organized a program on ‘Advantage MSME-The Big Strides’ today at Hotel Niharika, Kolkata.

It was held with the objective to showcase the talent and entrepreneurship of West Bengal in the very vital space of MSMEs. West Bengal houses the second-highest number of MSMEs in the country and this program was held with the objective of disseminating the advantages that MSMEs have and the various schemes that the Government has for them.

The event was graced by the presence of Mr. Shishir Bajoria, Chairman IIM Shillong; Adv. Narayan Jain, National Deputy President, All India Federation of Tax Practitioners (AIFTP); CA Sanjib Sanghi, Vice Chairman EIRC of ICAI; CS (Dr.) Adv. Mamta Binani, Past President ICSI & President of MSME Development Forum WB Chapter; Mr. S M Gupta, President with NCLT Kolkata Bar Association; Mr. K S Adhikari, President Concern for Calcutta and many others. The topics for the program was “Government outlook towards MSME”, “Basic Technology for MSME”, “Income Tax benefits for MSME and Start Ups” and “Finance Schemes for MSME”.

On this occasion, CS (Dr.) Adv. Mamta Binani, Past President ICSI & President of MSME Development Forum WB Chapter said, “MSME is one sector which not only holds the GDP and grows it but is a big enabler for the socio and equitable growth of the nation. With more than 6 crore units and over 11 crore workers, the MSME sector is the second-largest employer in the country after agriculture. With approximately 30% of the GDP and more than 45% of all Indian exports going to this sector, there is a substantial contribution to economic growth. The government is always trying to improve MSMEs’ competitiveness in the global value chain and give them the tools they need for sustained growth.”

EaseMyTrip enters an advertisement agreement with Capri Global Holdings Private Limited for five years of Women’s Premier League

EaseMytrip

Mumbai, February 28, 2023: With just a week left for the much-awaited maiden edition of the Women’s Premier League, EaseMyTrip, one of India’s largest online travel tech platforms, announced that it entered an advertisement agreement with Capri Global Holdings Private Limited, the franchise owner of the team, UP Warriorz. The agreement lasts for five years, beginning from the tournament’s first season.

The T20 cricket tournament organized by the Board of Control for Cricket in India (BCCI) is being looked at as a game-changer for women athletes. The WPL will not only create conversations around the women’s game, but it will also become a pathway for talent. Women cricketers taking center stage will be the cynosure of all eyes. This will inspire younger players to come through the ranks and share the field with the who’s who of the sport, furnishing a healthy grassroots system that keeps producing special performers on the world stage. EaseMyTrip will benefit from millions of views by this association.

Speaking on the development, Nishant Pitti, CEO & Co-Founder, EaseMyTrip, said, “At EaseMyTrip, we consistently display an innovative and maverick mindset. From being the only company in the industry to provide the benefit of no convenience fee charged to all our customers to now being a commercial partner in the pathbreaking endeavor for women’s cricket, EaseMyTrip is becoming a pillar for progress. At the heart of this association is our unwavering support for the WPL and its inaugural season. We are extremely delighted to be commercially engaged in the first edition of a tournament that will become women’s cricket’s biggest brand in the coming years. We are also looking to leverage the brand visibility that has tremendous potential, as millions of fans will be glued to their television sets watching the celebration of talent that the WPL is.”

“Capri Global Holding Private Limited and the UP Warriorz welcome EaseMyTrip into the family in what promises to be an exciting long-term partnership in a revolutionary journey in women’s cricket in India. The unfaltering support from EaseMyTrip will not only pave the way for greater brand visibility but also lay out the red carpet to celebrate and honour the immense talent in women’s cricket,” said Rajesh Sharma, Managing Director, Capri Global Holdings Private Limited.

The initial season of the league will broadcast in India on the Sports18 TV channel and the Jio Cinema app.

Multi-cloud infrastructures and the new wave of security challenges

To quote the 500 BCE pre-Socratic philosopher Heraclitus, “change is the only constant,” and when it comes to today’s ever-transforming world – especially this decade, which is witnessing the introduction of new terms into the lexicon, from Web 3.0 and NFT (Non-Fungible Token) to Crypto and Blockchain. Cloud computing, which is just a few years younger than the internet, is also adopting new advances, namely multi-cloud technology. However, as infamously, the residents of Troy learned the hard way no wall is impenetrable during the trojan war. The same goes for any technology today. While multi-cloud offers an array of advantages, empowering organizations to drive maximum growth, it also poses some serious concerns and comes with its own challenges.

Multi-Cloud Infrastructure uses cloud services from a combination of hyper scalers, which can be as simple as using software-as-a-service (SaaS) from different hyperscalers. A multi-cloud can have two or more public clouds, two or more private clouds, or a combination of public and private clouds to distribute its services. Cloud computing can provide resources that are cost-effective, efficient, and reliable. Reduced costs, rapid implementation, flexibility, and dynamic scalability are all advantages for a multi-cloud user. Cloud computing lowers capital and operational expenditure for Software and hardware by providing services and resources that may be accessed on demand in a self-service environment, scalable, and paid for as consumed. Despite these advantages, cloud computing has not been as widely used as anticipated because of worries about security and other challenges.

Security and privacy issues are the biggest deterrents to cloud adoption. A cloud provider offers several services, including storage, in addition to Infrastructure as a Service (IaaS), Software as a Service (SaaS), and Platform as a Service (PaaS). Concerns about providing user data to companies that offer these services exist inside some businesses.

Many obstacles push an organization from converting to the cloud; the most significant security challenges are as follows:

Managing multiple configurations in a multi-cloud environment is always a challenge. It requires thorough checking, driving automated configuration and end-to-end security monitoring to proactively check and fix the issues.

Managing Permissions and Access controls in a multi-cloud environment is always challenging to ensure we create, configure, and manage the security policies across the hyperscaler environments. Managing the consistent replication of security policies and managing them needs centralized management and control of all the multi-cloud environments to consistently secure and access policies across the board.

Managing patch management to handle consistent threats and vulnerabilities in multi-scaler environments is always a major security challenge. Any missing configuration patch can lead to higher security vulnerabilities to handle.

Lack of Redundancy: In case of a cyber-attack or mishap in the cloud, a typical step is activating the secondary data site since the primary data site is under siege. In this case, the synchronous and asynchronous backup of the data is not possible, and all the information is stored in the local storage. This unavailability of data synchronization can potentially infect the whole system.

3rd Party Dependency: Multi-Cloud service users are not in control of their data backup, as the service provider executes multi-cloud backup. Consumers of multi-cloud need to ensure their trust in the 3rd party service provider for that. Hence it becomes essential for multi-cloud users to consider the track record of the multi-cloud service provider to ensure data backup responsibility.

High latency in failure detection: The length of time that is required to detect a failure will have a substantial effect on the length of time that the system is inoperable. Immediate detection and reporting of failures are essential. However, where multiple backup sites are involved, immediately distinguishing between disruption of service and a network failure may prove difficult.

Ultimately, using a multi-cloud strategy may take advantage of the best features each cloud offers. But there are specific difficulties and things to think about with this approach. Because of this, you must assess and determine the best security management and monitoring tools, which can help manage the patches, access controls, policies configurations and proactive alerts. The security of production workloads is the hour’s need, irrespective of the multi-cloud platform you adopt.

Enzene Biosciences begins commercial supply of its biosimilar of Adalimumab

Mumbai, February 28 2023: Pune-based technology-oriented biotechnology company Enzene Biosciences Ltd. has announced that it has begun commercial supplies of Adalimumab for treating Ankylosis Spondylitis (AS) and Rheumatoid Arthritis (RA). This is the company’s fourth Biosimilar launch in recent times and the company believes that this first commercial launch using continuous manufacturing technology will help in reducing the cost of RA treatment for millions of patients across India.

Biosimilar medicines have an important role to play in increasing the affordability of treatments for various serious conditions such as cancer, rheumatoid arthritis, osteoporosis, etc. However, conventional biologics manufacturing process is extremely cost intensive, and despite the availability of biosimilars the access to these medicines still remains limited due to their high cost. Enzene is one of the first movers globally in developing fully integrated continuous manufacturing platform. The company claims that their biosimilars can further disrupt the affordability barrier as their novel platform offers several times higher volumetric productivity than conventional manufacturing processes.

According to Dr. Himanshu Gadgil, CEO at Enzene Biosciences, “We have been working on this novel fully integrated platform for the last six years and the commercialisation of Adalimumab is a validation of our innovation-based work culture. Enzene is planning to expand global access of this platform through our CDMO vertical.

Adalimumab development included a comparative efficacy and safety studies in patients with Ankylosing spondylitis, also known as Marie-Strumpell disease or Bechterew’s disease. This is the fourth Biosimilar launch for the company in the last eighteen months.

Mr Sandeep Singh, MD of Alkem Laboratories, said “We have invested significantly in building a world class biotech company through Enzene and our confidence has been justified by series of Biosimilars launches in recent past. Alkem has also built exceptional capabilities in clinical development of complex therapies which has put us in a position to significantly impact Indian healthcare.”

IRM Energy and Lohia Corp gets SEBI nod for IPO

New Delhi, 28th February 2023:– Cadila Pharma-backed IRM Energy Limited, is a city gas distribution (“CGD”) company in India, engaged in the business of laying, building, operating and expanding the city or local natural gas distribution network and Kanpur-based Lohia Corp is a global leading manufacturers of machinery and equipment used in the production of technical textile, in particular for manufacturing polypropylene (“PP”) and high density polyethylene (“HDPE”) woven fabric and sacks (“Raffia”), with a global market share of 17.5% across all Raffia machinery and more than 28.7% for machines used in PP/ HDPE fabric making have received their final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).

IRM Energy and Lohia Corp had filed preliminary IPO papers with Sebi on December 14 2022 and September 29, 2022 respectively.

IRM Energy’s public issue with a face value of Rs 10 per equity share is a complete fresh issue of up to 10,100,000 equity shares.

Lohia Corp’s public issue with a face value of Re 1 per equity share is a complete offer-for-sale (OFS) of up to 31,695,000 equity shares by the existing shareholders.

IRM Energy Limited (IRMEL) in order to capitalize on synergetic its business opportunities, has entered into a strategic and technical partnership with Shizuoka Gas Co. Ltd, Japan (“ShizGas”) fourth largest gas company in Japan by natural gas sales volume, by infusing capital through a private placement in IRMEL. On the other hand, in order to achieve business integration, it invested in Farm Gas Private Limited, Venuka Polymers Private Limited Ni Hon Cylinders Private Limited. Additionally, it has signed a memorandum of understanding (“MoU”) with Mindra EV Private Limited for setting up an electric vehicle (“EV”) charging infrastructure at DODO Stations and COCO Stations for a period of five years, with a vision of transitioning of becoming an energy oriented company.

Lohia Corp also manufactures winders and rewinders for high-performance fibres such as carbon fibre, glass fibre, and artificial grass. The packaging of cement, fertiliser, chemicals, polymers, food grains, minerals, shopping bags, leno bags, FIBCs, and container liners are just a few examples of the products made utilising its machines that are employed in a variety of sectors. They are also utilised in non-packaging applications, such as wrapping fabric, roof underlayment, lumber wrap, pond liner, tarpaulin, geotextile, geogrid, ground cover, carpet backing, ropes, and twines.

HDFC Bank Limited, and BOB Capital Markets Limited are the book-running lead managers for IRM Energy and ICICI Securities Limited, IIFL Securities Limited, HSBC Securities and Capital Markets (India) Private Limited, and Motilal Oswal Investment Advisory Limited are the book-running lead managers for Lohia Corp.

‘ReDefine’s India Expansion Continues with the Launch of 6th studio in Trivandrum’

ReDefine's India Expansion Continues with the Launch of 6th studio in Trivandrum, Elevating the VFX and Animation Industry

India, February 2023: ReDefine, a global VFX and animation company providing high-quality, tailored creative services to studios, filmmakers, and streaming companies, has announced the launch of its sixth studio in India, located in Trivandrum. Launching the latest studio in India marks a significant step in the company’s continued expansion in the region and is part of ReDefine’s vision of redefining the art of VFX and Animation. The new studio will create exciting job prospects for professionals in the field while elevating the VFX and Animation industry with high-quality content. With its state-of-the-art infrastructure, the new studio in Trivandrum will enable ReDefine to cater to the growing demand for VFX and Animation services, both domestically and internationally.

Increased usage of OTT and new streaming platforms has led to a rise in demand for content; this new location will be vital to the company’s mission to provide world-class visual effects and animation services to its global clientele.

The studio will be led by a senior group of artists and technicians, who will collaborate with the company’s global teams to bring long-form animated episodic work and special projects to life.

“At ReDefine, we are constantly pushing the boundaries of what’s possible in the world of VFX and animation,” said Rohan Desai, Managing Director, ReDefine. “We have more projects on our plate than ever before, and our new office in Trivandrum is set to play a significant role in our global network of studios. This exciting expansion will bring our clients’ imaginative ideas to life and further solidify our reputation as a leading player in the industry. With this new move, the company is poised for even greater success in the years to come.”

Speaking on the launch of the new office, Mr Manu PK, Head of CG, ReDefine, said, “We’re thrilled to tap into Trivandrum’s talent pool and provide opportunities for artists and technicians. Our talented team, combined with the wealth of creative talent in the region, will allow us to produce animated content like never before. The growing demand for premium content presents a huge opportunity for us, and we are confident that our Trivandrum studio will be a major boon in our global network of studios.”

Speaking on the launch, Sajeer Abdul Salam, Head of VFX for ReDefine Trivandrum, said, “I’m thrilled to be part of our new VFX office and to showcase our exceptional visual effects to an even wider range of projects and clients. Our team is dedicated to pushing the limits of what’s possible, delivering outstanding results and setting new standards of excellence in the VFX industry. We work closely with clients to bring their visions to life, leveraging cutting-edge techniques and state-of-the-art technology to stay ahead of the curve. Together, we’re well-positioned for even greater achievements, and I’m eager to see the incredible projects we’ll create.”

The current headcount at ReDefine Trivandrum is 140+ employees, and the company expects the number to grow with the launch of the new office. ReDefine’s talented team of artists and technicians have been instrumental in delivering several groundbreaking and innovative projects in the VFX and animation industry, making the company a highly sought-after partner for clients across the world.

AstraZeneca expands its portfolio by bringing rare disease therapy for patients in India

Mumbai, India – 28 February 2022: AstraZeneca India, a science-led biopharmaceutical company today announced its entry into rare disease therapy in India. The regulatory approval of its ‘Selumetinib’ demonstrates company’s commitment to bring first in class, science-based therapies to patients in India. Through the addition, the company aims to address the severe unmet need of patients living with rare diseases and transform their quality of life.

In India, there is neither a clear estimate of the rate of mortality or morbidity nor an understanding of the disease burden on public healthcare system, when it comes to rare diseases. However, it is said that more than 400 million of population globally is affected by rare diseases and there are about 7000 recorded and identified rare diseases currently. It implies that there is a need to collectively further access as well as research in rare diseases so that we are better prepared to develop right medicines for patients diagnosed or living with known rare diseases and fight the burden.

“Patients with rare diseases need early and accurate diagnosis, timely treatment, long term supportive care. For this, government support is as essential as philanthropic or private support. Awareness among all stakeholders like the general public, medical fraternity, basic and clinical researchers, and policy makers is important. With less than 6% rare diseases having any kind treatment, coupled to extremely limited availability of any rare disease treatment in India, expectations from global pharma companies are high. New products launch by companies like AstraZeneca is important for rare disease patients, especially the neurological group of patients and they too can hope to live longer like any other population” said Prasanna Shirol, Co-founder and Executive Director, ORDI (Organization for Rare Diseases India).

“As a country, we need to accomplish a lot in this therapy area-right from diagnosis, treatment, access and education. With this milestone approval, we are bringing transformative medicines to patients living with rare diseases in India who currently have limited treatment options or no available treatment at all. By understanding patients’ unique needs, we can research and develop innovative medicines, support access and advocate for the rare disease community. We look forward to advancing this commitment and working with stakeholders to not only bring more innovative therapies for even more rare disease patients but also develop a roadmap to augment early diagnosis and holistic care”, said Dr Sanjeev Panchal, Country President and Managing Director, AstraZeneca India.

This rare disease day, AstraZeneca is also joining hands with Organization of Rare Diseases in India (ORDI), a non-profit organization working to improve the life of patients living with rare diseases. The collaboration is primarily to showcase support behind the cause and enhance the conversation. As a gesture of its support, AstraZeneca will be participating in ORDI’s flagship ‘RaceFor7’, a multi-city 7 km run commemorating Rare Diseases day in the country.

Being a science-led patient centric organization, AstraZeneca is focused on understanding patients’ needs and working with the ecosystem to improves awareness about rare diseases. The landscape of rare diseases is constantly evolving with new diseases identified from time to time but due to lack of awareness amongst medical community and general public, currently it takes 7 years on an average to diagnose a rare disease correctly. New molecular techniques and DNA sequencing technology have contributed significantly since it is found that almost 80% of all rare diseases have a genetic etiology. The new collaboration between AstraZeneca and ORDI aspires to leverage the latest science to support rare disease patients and their families in India.

Marengo Asia Healthcare acquires 100% stake in W Pratiksha Hospital

Dr Raajiv

Delhi NCR, Tuesday, 28th February 2023: Marengo Asia Hospitals has expanded its footprint in Delhi NCR by acquiring 100% stake in W Pratiksha Hospital, a 250-bed hospital facility in Gurugram. Marengo Asia Healthcare acquires or partners with accredited, clinically sound hospitals to integrate them to function under the chain of Marengo Asia Hospital. The hospital network focuses on providing tertiary and quaternary care, creating ‘centres of excellence’ across medical specialties, and adopting a ‘patient first’ approach.

W Pratiksha Hospital is a multi-specialty hospital situated in Sector 56 of Gurugram which is easily accessible to all parts of Gurugram and Delhi as well. The hospital is NABH certified and besides catering to the local population, also attracts international patients.

Dr Raajiv Singhal, Managing Director & Group CEO, Marengo Asia Hospitals said, “The acquisition of W Pratiksha Hospital further reinforces our commitment towards offering best medical facilities and treatments to the patients of Delhi NCR and its nearby areas. With the recent expansion of over 100 beds at this hospital facility, we will now be able to offer more sub-specialties and advanced treatments which is a hallmark of Marengo Asia Hospitals group.”

Marengo Asia Healthcare operates an existing 550 bed hospital in Faridabad. With approximately two and a half lakhs population traveling between Gurugram and Faridabad every day, the two Marengo Asia Hospitals will now serve as a nodal point to offer quality medical services to the local population.

In association with InfraMantra, Jaipuria Institute of Management (Lucknow) Alumni Association Holds Successful Health Awareness Campaign

In association with InfraMantra, Jaipuria Institute of Management (Lucknow)  Alumni Association Holds Successful Health Awareness Campaign

28 February 2023, New Delhi: Jaipuria Institute of Management Alumni Association (JIMAA) , NCR chapter recently organized a health awareness campaign in Noida Section 150, which was a huge success. The event was attended by Honourable Mr. Manish Sharma, district senior vice president of BJP Noida, and was sponsored by InfraMantra, one of India’s leading real estate service provider.

The health awareness campaign was an interactive and engaging event that included various activities like Zumba, cycling, and other fun exercises to promote fitness and healthy living. Mr. Manish Sharma himself participated in these activities, encouraging others to prioritize their health and well-being. This approach reflects a growing recognition of the importance of sports and physical activity in maintaining a healthy and well-rounded lifestyle.

Manish Sharma highlighted the focus on sports infrastructure in the development of Noida Sector 150 and stated that the region was developed with the aim of promoting sports and an active lifestyle, and developers were specifically requested to incorporate sports facilities in their projects. With its focus on sports infrastructure, Noida Sector 150 provides a promising model for other regions to follow in promoting fitness and wellness among their residents.

“I am delighted to have participated in this health awareness campaign organized by JIMAA. It’s essential to promote healthy living in our communities, and events like this help create awareness and encourage people to prioritize their health. Noida Section 150 was developed with the future in mind, and I’m glad to see that we are continuing to build a healthier and more sustainable community.” Said Mr. Manish Sharma.

Speaking about the event, Mr. Garvit Tiwari, Director & Co-Founder at InfraMantra, said, “Being part of Alumni , I am delighted to be a part of such a successful health awareness campaign in Noida . InfraMantra always promote healthy living and encourage people to take care of their health, and we believe we have achieved that through this event. We are grateful to Mr. Manish Sharma & Alumni’s of Jaipuria institute of management-NCR chapter for their support and encouragement.”

The event was attended by a large number of people, including residents of Noida Section 150, JIMAA members, and representatives from various organizations. The attendees appreciated the efforts of JIMAA and expressed their willingness to participate in similar events in the future.

InfraMantra is committed to promoting health and well-being among the community and will continue to be a part of such events in the future. InfraMantra would like to thank everyone who attended the event and made it a grand success.