Category: business

Build Connect 2026 Highlights Network Expansion as Construction Sector Scales Up

New Delhi, Jan 15: India’s steel and construction materials sector is entering a phase of accelerated expansion, supported by rising production capacities and sustained domestic demand. According to BigMint, India’s steel production crossed 160 million tonnes in CY25, with installed capacity expected to move towards 300 million tonnes by 2030. Cement capacities are also expanding in parallel, driven by continued momentum in infrastructure development and housing.

As capacity expansion gathers pace, the industry’s focus is shifting from production growth alone to how efficiently this scale is carried to the market.

BigMint estimates that in FY26, India’s finished steel consumption stood at around 162 million tonnes, of which nearly 50 million tonnes moved through trade-led channels such as dealers, distributors, stockists, and yards, largely operating at the MSME level. By 2030, steel demand is projected to reach approximately 210 million tonnes, with trade-led distribution expected to scale up to nearly 70 million tonnes annually. This expansion is being driven by deeper penetration into Tier 2 and Tier 3 markets, a rising share of value-added steel products, and the gradual modernisation of dealer and distributor infrastructure.

These trends were outlined at the curtain raiser press conference organised at the Press Club of India, New Delhi, where industry stakeholders formally announced Build Connect 2026, a national expo-cum-conference focused on strengthening India’s dealer–distributor ecosystem in steel and construction materials.

Distribution as a Growth Enabler

Discussions at the curtain raiser highlighted that as volumes increase and product portfolios become more complex, distribution capability, geographic reach, and operational readiness are emerging as critical enablers of sustained industry growth.

BigMint estimates that nearly ₹3.5 lakh crore worth of steel and construction material sales flow annually through the dealer–distributor channel, underscoring the importance of access to organised finance, improved liquidity cycles, and smarter inventory management to support growth while managing risk.

Build Connect 2026

Build Connect 2026 has been announced as a first-of-its-kind national platform bringing together dealers and distributors from across the country, mills and manufacturers, EPC players, architects, financiers, and technology providers. The platform will facilitate pan-India connectivity, capacity building, and knowledge exchange, while providing exposure to value-added products, digital tools, and structured financing solutions aligned with the evolving needs of the trade ecosystem.

The event is expected to see participation from over 300 distributors and more than 3,000 MSME-scale dealers, reflecting the scale and diversity of India’s trade-led distribution network.

Industry Perspective

Chairing the press conference, Kamal Goel, Chairman, Amba Shakti Group, said that as steel capacities expand and manufacturers introduce more value-added products, a capable and future-ready distribution network is central to effective market adoption across regions.

Sumit Agrawal, CMO, BigMint and organiser of Build Connect 2026, said that India’s expanding production base presents an opportunity to modernise and strengthen the industry’s distribution backbone alongside capacity growth.

Amit Gupta, President, Akhil Bhartiya Loha Vyapar Sangh (ABLVS), said that a national platform can help MSME dealers and distributors gain wider visibility, learn from peers across regions, and prepare for the next phase of industry growth.

Build Connect 2026 will be held on February 19–20, 2026, at Yashobhoomi, New Delhi.

Womancart launches in Jaipur, bringing 2-hour quick commerce for women to a high-growth Tier-2 market

India Jan 15: Womancart, India’s leading women-centric quick-commerce platform, has officially launched its hyperlocal delivery services in Jaipur, marking a strategic milestone in the company’s expansion across tier-2 cities. The launch brings two-hour delivery of beauty, personal care, fashion, wellness, and lifestyle products to the Pink City, addressing a significant gap in quick-commerce accessibility beyond metro markets.

Jaipur plays a strategic role in Womancart’s growth roadmap, as the company looks to bridge the convenience gap that often exists outside tier-1 markets. While quick-commerce adoption has largely remained concentrated in metro cities, Womancart is extending the same level of speed and service to tier-2 consumers who remain underserved. Through its two-hour delivery model, the platform aims to ensure that women in Jaipur experience the same ease of access as shoppers in larger urban centres.

Commenting on the expansion, Madhu Sudan Pahwa, Managing Director, Womancart, said, “Tier-2 cities represent not just an expansion opportunity but a fundamental shift in how we think about inclusive commerce in India. Women in these markets have the same aspirations and expectations for quality, convenience, and choice as their metro counterparts, yet they have been systematically overlooked by the quick-commerce revolution. Jaipur is our statement of intent. We are building infrastructure, investing in technology, and creating local employment because we believe these markets deserve dedicated focus, not an afterthought. Our omnichannel model, combining two-hour delivery with physical retail presence, is designed specifically for the trust dynamics and shopping preferences of tier-2 consumers. This is about establishing long-term leadership in a segment that will define the next wave of Indian e-commerce growth.”

The city’s cultural vibrancy and status as a major domestic and international tourist destination further enhance the opportunity. Womancart expects to serve not only local residents but also short-stay visitors who seek immediate access to beauty, personal care, fashion, and essential lifestyle products. This dual audience allows the brand to build awareness, encourage first-time trials, and strengthen recall among new customers visiting the city.

From a category standpoint, Womancart anticipates strong demand in skincare, driven by climate-related concerns around hydration, tanning, and sensitivity. Clothing and jewellery are also expected to see high traction, supported by Jaipur’s fashion-conscious and culturally rooted consumer base. Crockery is projected to perform well due to household consumption and gifting trends, while fragrances are emerging as a fast-growing category among younger shoppers looking for premium yet affordable options.

Womancart’s differentiation in Jaipur lies in its focused positioning and operational strength. As a platform designed specifically for women, it offers a carefully curated assortment across beauty, personal care, fashion, mom and baby, wellness, and home categories. Its two-hour delivery promise, which remains rare in tier-2 cities, is supported by an inventory-led model, transparent pricing, and verified products. This is complemented by a seamless digital experience that prioritises availability and trust.

The company is also investing in a strong local foundation to support the Jaipur launch. A dedicated warehouse has been set up to enable fast fulfilment, and Womancart is deploying its own fleet of trained delivery riders to maintain service quality and turnaround times. The expansion is expected to generate local employment across warehousing, logistics, retail operations, customer support, and supervisory roles, while also creating partnerships with local vendors and service providers.

In addition to quick commerce, Womancart plans to establish its first physical retail store in Jaipur within the next six to eight months. The store will function as both a retail destination and an omnichannel support centre, allowing customers to browse products in person while enjoying services such as online purchases with offline exchanges or returns. This integration of online and offline touchpoints is designed to strengthen customer confidence and long-term engagement in the market.

Early indicators from the Jaipur market have been encouraging, with consistent month-on-month improvement in order volumes and active users. While the city is still in a growth phase, rising repeat purchases and engagement across key categories reflect steady adoption. With its two-hour delivery promise, upcoming offline presence, and focus on trust-led retail, Womancart sees Jaipur as a strong long-term growth market within its national expansion strategy.

Azul Elevates Strategic Leadership of Java Channel Program, Driving Higher-Value Partner Engagement and 30percent Year-over-Year Growth

ndia Jan 15: Azul, the only company 100% focused on Java, today announced continued momentum in its global channel program, marked by a shift toward continued elevation of the program’s strategic leadership and tracking towards a strong 30% year-over-year growth in channel-sourced and channel-involved new and upsell bookings. The company has focused on partner profitability, program compliance and deal quality, resulting in measurable increases in revenue contribution, deal size, partner performance and services expansion.

Key Channel Highlights Over the Last Year

•          Strong bookings contributions: In addition to tracking towards a 30% year-over-year growth in new and upsell bookings, Azul’s channel-involved business is currently 7% ahead of the plan for its current fiscal year and up 17% year-over-year on partner generated funnel, with one quarter remaining.

• Higher-value, better-qualified deals: The size of channel deals has increased by nearly 46%, driven by stricter early-stage deal qualification, improved visibility into customer environments and updated pricing.

•   Surge in high-value partners: Azul expects 10 global partners to drive more than $1 million in new and upsell bookings and funnel each this year, a 50% increase over the prior year. This reflects the program’s evolution toward deeper, more strategic partner relationships.

•  Major milestone potential: Azul is on track to secure its first-ever $3.5 million+ in new and upsell bookings from one partner, an unprecedented milestone for the program.

“Three years ago, we were the new entrant to commercial Java solutions being sold through the channel, building awareness and onboarding partners at speed,” said Simon Taylor, vice president of global channel sales at Azul. “Today we have strong awareness, are onboarding partners at speed, and have a clear understanding of the levers that accelerate ecosystem performance. As we continue to mature our program, our partners are consistently delivering high-value business and contributing meaningfully to our company’s growth. Our focus on partner profitability and program discipline is paying off.” 

Program Milestones and Operational Highlights

•   Compliance framework adoption: Azul has implemented a new global compliance model based on partner tiers (Platinum/Tier 1, Gold/Tier 2 and Silver/Tier 3) and specific subregional requirements. The program drives consistency across bookings, pipeline and training expectations and enables more predictable partner performance worldwide.

•  Technical alliance commercialization: Azul is commercializing several strategic technical alliances, transitioning them from awareness partnerships into revenue-generating referral relationships. Recent examples include Chainguard, Cast AI, Moderne, and Payara (recently acquired by Azul), with additional alliance pipeline contribution expected in coming quarters.

•   Systems integrator expansion: The company has broadened its base of global system integrators and regional service partners, including organizations providing JDK migration, WebLogic and JBoss migrations with Azul’s recent acquisition of Payara and cloud modernization and advisory services to support Azul’s customers across AWS and hybrid-cloud environments. Current partners include OpenValue, Silverleaf, SmartMigrator, IBM TLS, CrowdCode and OpsGuru to name a few.

•   Managed services momentum: Following the launch of its IC Managed Services program this year, Azul has already completed its first managed services deal in North America and anticipates additional activity in EMEA and APAC.

•   Accelerated training and certification: Since the rollout of Azul’s updated compliance and training materials released in October 2025, more than 30 partners have completed the new training in the first couple of months.

Saatvik Green Energy Subsidiary Secures ₹13.80 Crore Solar Module Supply Order

Chandigarh, Jan 15: Saatvik Green Energy Limited today announced that its material subsidiary, Saatvik Solar Industries Private Limited, has secured an order worth ₹13.80 crores from a renowned Independent Power Producer (IPP)/EPC player for the supply of solar photovoltaic (PV) modules. The Order will be executed by February 2026.

This order win reinforces Saatvik Solar’s strong market position in India’s rapidly expanding solar module manufacturing sector and underscores the growing confidence of leading IPPs and EPC players in the company’s product quality and delivery capabilities.

Commenting on the development, Prashant Mathur, CEO, Saatvik Green Energy Limited, said: “We are delighted to secure this significant order worth INR 13.80 Crores from a leading Independent Power Producer/EPC Player. This win is a testament to the quality, reliability, and technological excellence of our solar PV modules. As India accelerates its renewable energy transition, Saatvik remains committed to delivering world-class solar solutions that power the nation’s clean energy ambitions. This order reinforces the trust our clients place in Saatvik’s innovative products.”

This latest order adds to Saatvik Green Energy’s impressive momentum in recent months. The company has achieved several notable milestones, including its subsidiary Saatvik Cleantech EPC Private Limited securing a ₹20.84 crore turnkey solar EPC order, a substantial ₹486 crore solar module order from a renowned IPP/EPC player, and winning solar pump orders totaling approximately ₹30.24 crore from MSEDCL under the PM-KUSUM scheme. On the manufacturing front, Saatvik commissioned a 2 GW in-house EPE film manufacturing facility, strengthening vertical integration and advancing ‘Make in India’ leadership.

Venus Remedies Secures Marketing Authorisation For Ceftazidime Plus Avibactam In Indonesia

Mumbai, Jan 15: Venus Remedies Limited (NSE: VENUSREM, BSE: 526953), among the world’s leading fixed-dosage injectable manufacturers, has secured the marketing authorization from the Indonesian regulatory authority for its combination antibiotic, Ceftazidime + Avibactam.

This approval represents Venus Remedies’ first marketing authorization in the anti-infective segment in Indonesia and also enables the first generic launch of Ceftazidime + Avibactam in the country. The milestone marks a significant step in the Company’s international expansion strategy and strengthens its regulatory and commercial footprint across Southeast Asia.

The authorization further reinforces Venus Remedies’ presence across ASEAN markets, where the Company is commercially active in 10 countries and holds more than 370 injectable approvals. It aligns with the Company’s focus on expanding access to advanced critical-care therapies while supporting India’s role as a trusted supplier of high-quality injectable pharmaceuticals to emerging healthcare markets.

Saransh Chaudhary, President, Global Critical Care, Venus Remedies Limited, and CEO, Venus Medicine Research Centre, said,

“The approval of Ceftazidime + Avibactam in Indonesia is an important regulatory milestone for Venus Remedies. It reflects our continued focus on addressing antimicrobial resistance through clinically relevant therapies designed for hospital-based care and reinforces our commitment to expanding access to life-saving anti-infective treatments in international markets.”

Ceftazidime + Avibactam is an advanced antibiotic combination indicated for the treatment of serious multidrug-resistant bacterial infections, including complicated intra-abdominal infections and complicated urinary tract infections caused by gram-negative pathogens such as Pseudomonas aeruginosa and Enterobacteriaceae. Avibactam inhibits key beta-lactamase enzymes, restoring the activity of ceftazidime against resistant strains and addressing a critical unmet need in the management of antimicrobial resistance.

Indonesia represents one of the largest pharmaceutical markets in Southeast Asia, with antibiotics forming a critical therapeutic segment due to the high burden of infectious diseases and increasing emphasis on antimicrobial stewardship. The broader ASEAN pharmaceutical market is projected to exceed USD 63.5 billion by 2029, highlighting the region’s growing strategic importance for India’s pharmaceutical exports and healthcare collaboration.

Aditi K. Chaudhary, President, International Business, Venus Remedies Limited, said,

“With the approval of Ceftazidime + Avibactam, Venus Remedies enters the anti-infective segment in Indonesia, expanding beyond our existing presence in oncology. Indonesia is a priority market for us, and this milestone reflects our long-term commitment to building a compliant, scalable, and sustainable business in the region.”

As the first generic of its kind to be launched in Indonesia, Ceftazidime + Avibactam is expected to improve access to advanced anti-infective therapy in hospital and critical-care settings. The approval strengthens Venus Remedies’ commercial platform across ASEAN and underscores the growing contribution of Southeast Asia to the Company’s international business.

Asia continues to grow at over 30% year-on-year for Venus Remedies, our focus remains on expanding access to advanced injectable therapies through trusted local partnerships, resilient supply chains, and a disciplined international business strategy, reinforcing India’s position as a reliable partner in addressing antimicrobial resistance across emerging healthcare markets.

Vedanta hits market cap of Rs 2.5 lakh crore as shares hit new high of Rs. 642

Chandigarh, Jan 15: Shares of Vedanta Limited hit a new high of Rs 642.50 on the back of an extended rally in commodity prices that has taken the market capitalization of the company at Rs 2.5 lakh crore in the trading session of January. The shares have gained nearly 5.25% on a year-to-date basis.

The stock delivered a return of over 54% over the past twelve months (January 13, 2025 to January 13, 2026) on the National Stock Exchange, significantly outperforming the benchmark indices. On a total return basis, including dividends, Vedanta’s stock delivered an even higher return of around 60% during the period. This performance is approximately five times that of the flagship indices Sensex & Nifty 50 and 1.5 times the Nifty Metals index. The shares closed at Rs 637.20 on Tuesday.

As of the end of December, Vedanta is the 23rd most valuable listed company in India, excluding BFSI and PSU companies.

Vedanta’s stock price has been buoyed by potential medium-term upside in aluminium on the London Metal Exchange (LME), volume growth, likely lower costs, and expectations that the demerger will unlock value across the company’s sprawling portfolio. Copper prices also crossed the $13,000-a-ton mark for the first time, extending the recent rally.

Adding to the gains is the order by the NCLT’s Mumbai bench on December 16 approving Vedanta’s demerger into five independent, pure-play businesses. As per Vedanta, the demerger will result in five separate listed companies (including the already listed Vedanta Limited), each with a clear strategic mandate, focused management teams, and dedicated capital structures. According to the company, the demerger is designed to unlock long-term value for shareholders and provide investors with exposure to assets aligned with India’s growth and global energy transition trends.

Vedanta’s subsidiary, Hindustan Zinc, is also benefiting from a rally in silver prices, which has lifted its market cap above Rs 2.66 lakh crore as of January 13 (NSE). The company’s stock has delivered nearly 50% returns over the past year (January 13, 2025, to January 13, 2026). In December, global research firm Jefferies initiated coverage on Hindustan Zinc, emphasizing the company’s positioning as the world’s largest integrated zinc producer and among the top five global silver producers.

Energy Leaders Abunayyan Holding and Nextpower Complete Formation of Joint Venture, Nextpower Arabia

Mumbai, Jan 15: Nextpower (Nasdaq: NXT, formerly Nextracker) and Abunayyan Holding today announced the completion of the incorporation of thepreviously announced joint venture, Nextpower Arabia headquartered in Riyadh, Kingdom of Saudi Arabia. The new joint venture will accelerate the deployment of utility-scale solar power plants across the Middle East and North Africa (MENA) region, supporting national and regional renewable energy transformation objectives and Net Zero targets.

As part of the new joint venture, the partners also announced a new advanced manufacturing facility in Jeddah, Saudi Arabia. Nextpower Arabia will provide advanced tracker systems, yield management, and control solutions for installation on large-scale solar projects across the MENA region.

The facility is expected to enable total manufacturing and localized supply chain capacity of up to 12 GW per year, supporting the creation of up to 2,000 jobs and development of local engineering and technical talent within the Kingdom. Currently under construction on a 42,000-square-meter site, the production facility is anticipated to open in Q2 of calendar year 2026 and will manufacture Nextpower’s comprehensive portfolio of solar tracking systems, adding up to 600 employees (watch the video).

Khalid Abunayyan, Chairman of Abunayyan Holding, said, “Making energy and water supply readily accessible, sustainable, and affordable is essential to the continued economic and social development of Saudi Arabia and our partners across the region. It is also central to the core values and DNA of Abunayyan Holding. Partnering with Nextpower, a true pioneer in the international solar energy community, strengthens our role in advancing Saudi’s clean energy vision by localizing advanced manufacturing and technologies, building local capacity development, and creating lasting value for generations to come.”

Dan Shugar, founder and CEO of Nextpower, said, “Saudi Arabia is a strategic market for Nextpower as we expand our ability to serve customers across the Middle East. The Kingdom is making significant progress in advancing the energy transition, and we’re proud and honored to support these monumental initiatives with proven solar technology and trusted local partnerships. Abunayyan Group’s regional expertise and alignment with our business focus make them the right partner to help deliver greater value, faster, for customers in the region.”

Turki Al-Amri, Abunayyan Holding CEO and Nextpower Arabia Chairman and CEO, said, “Our manufacturing facility represents the first step in our strategic vision to strengthen and localize the solar supply chain for our partners across the MENA region and enhance collaboration to deliver highly efficient and cost-effective clean energy. By sourcing core materials such as Saudi-produced steel through our strategic partners and manufacturing locally, we are supporting economic diversification and industrial growth that is at the foundation of Saudi Vision 2030.”

Nextpower Arabia combines the deep regional expertise of Riyadh-based Abunayyan Holding with the global solar technology leadership of Nextpower. Abunayyan Holding brings more than 75 years of experience developing and privatizing the operation of critical water and energy infrastructure across Saudi and the MENA region. The company was a key driver of the consortium behind the founding and growth of several development arms and forming joint ventures that bring leading technology to the region.

U.S.-headquartered Nextpower is a global leader in advanced solar tracking systems and software, with over 150 GW of trackers under fulfilment or operational across more than 45 countries worldwide. This total includes more than 6 GW of solar projects across the Middle East and Africa, such as Phase V of the Mohammed Bin Rashid Al Maktoum Solar Park in the UAE and 3 GW of Saudi landmark projects, including:

405 MWp of the Sakaka Solar Park, the Kingdom’s first utility-scale solar project

• 1,170 MWp Al Kahfah project, 
• 449 MWp Tabarjal project
• 450 MWp of the Sudair project

Nextpower Arabia is well positioned to support the National Renewable Energy Program in the Kingdom of Saudi Arabia, which targets increasing the share of renewables in the country’s energy mix by 2030. Localizing manufacturing in the Kingdom will also support Saudi Arabia’s industrialization and export development plans while helping reduce the cost of clean energy for major projects across the region.

According to the Middle East Solar Industry Association’s (MESIA) recent 2025 Solar Outlook Report, cost competitiveness and improving production efficiencies are accelerating solar adoption and government-backed clean energy strategies, with regional solar capacity projected to exceed 180 GW by 2030.

In support of this growth opportunity, Abunayyan Holding and Nextpower anticipate funding the joint venture with approximately $88 million (approximately 330 million Saudi Riyals) in equity and public and private debt financings over the next two years alone. This capital will facilitate the buildout of the state-of-the-art manufacturing facility and development of highly skilled technical and engineering capabilities with a track record in operational excellence.

SVC Bank Enters Landmark 120th Year: Blending a Century of Cooperative Trust with Future-Ready Digital Innovation

Mumbai, Jan 15: SVC Bank, formerly known as The Shamrao Vithal Co-operative Bank Ltd, a multi-state scheduled bank in India, commemorated its Foundation Day, marking the milestone of entering its 120th year of commitment to ethical banking, customer centricity, and inclusive financial growth. Founded in 1906, the Bank has consistently upheld the cooperative spirit while evolving with changing times to meet the financial needs of individuals, businesses, and communities.

On this occasion, the Bank reflected on its history of service while reaffirming its focus on governance, digital initiatives, and customer experience. Over the years, SVC Bank has expanded its footprint and diversified its offerings to support MSMEs, retail customers, and financial inclusion.

Speaking on the occasion, SVC Bank’s Chairman, Shri. Durgesh Chandavarkar, said, “Our journey into the 120th year reflects the confidence and trust reposed in us by our customers, members, and stakeholders across generations. This long-standing association has shaped our values and guided our approach to cooperative banking. As we honour and reflect on this legacy, we remain firmly focused on strengthening governance, deepening transparency, and responsibly leveraging technology to enhance efficiency and customer experience. Guided by these principles, we are committed to building a resilient, future-ready cooperative bank that continues to support sustainable growth and meet the evolving expectations of our stakeholders.”

SVC Bank launched several digital initiatives to streamline banking and investment processes. The Bank has steadily strengthened its digital footprint over the past few years, launching a range of products to address diverse banking needs.

The Bank continues to align its operations with regulatory best practices while steadily advancing its digital capabilities to deliver efficient, secure, and future-ready banking services. As SVC Bank enters its 120th year, it remains committed to its vision of being a leading co-operative bank that provides a comprehensive banking experience through innovation, quality, and commitment.

As part of the 119th anniversary celebrations, SVC Bank held an event for employees to mark their contribution. The event included activities that encouraged participation among employees. It also featured an Employee Award Distribution Ceremony, where the Bank recognised employees for performance, effort and leadership in FY 2024-25 across bank functions.

TWH Hospitality Signs Nazeer Foods for 2 Outlets, Expanding F&B Presence in Goa and Chandigarh-Tricity

Goa/Chandigarh, India Jan 15: TWH Hospitality, a renowned name in the Indian hospitality industry, is pleased to announce its partnership with Nazeer Foods for the operation of 2 new outlets under its F&B division. One outlet will be located in Goa, while the other will be in Zirakpur, part of the vibrant Chandigarh-Tricity region. 

The outlets will be operated by Nazeer Foods under the Franchise Owned Company Operated (FOCO) model, and will be part of TWH Hospitality’s esteemed brand Boho Beach Resort (Morjim, Goa) and a new venture in Zirakpur, Chandigarh-Tricity. 

The partnership aims to leverage Nazeer Foods’ expertise in delivering exceptional culinary experiences, further enhancing TWH Hospitality’s offerings in these key markets. 

“We are thrilled to collaborate with Nazeer Foods, a team known for their passion and innovation in the F&B sector,” said Ambika Saxena, CEO, TWH Hospitality. “This partnership aligns with our strategy to expand our F&B footprint in key markets and offer our guests unique dining experiences.” 

Nazeer Foods will bring its culinary expertise to the table, crafting menus that blend local flavors with authentic Mughlai cuisines, ensuring that patrons enjoy a memorable dining experience. 

The new outlets are expected to create numerous employment opportunities and contribute to the local economies, reinforcing TWH Hospitality’s commitment to these regions.