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Tag: Hong Kong

Kerry Logistics Network Wins Ninth Best 3PL Provider Title at AFLAS 2024

HONG KONG, June 26, 2024  — Kerry Logistics Network Limited (‘Kerry Logistics Network’, ‘KLN’; Stock Code 0636.HK) is delighted to be named the Best 3PL Provider for a record ninth consecutive time and the Best Logistics Service Provider – Air for the seventh time at the 2024 Asian Freight, Logistics and Supply Chain Awards (‘AFLAS Awards’) held in Shanghai last night, demonstrating its consistent service excellence, strong air freight capabilities and reliability as a supply chain partner for its customers worldwide.

Vic Cheung, Chief Executive Officer of Kerry Logistics Network, said, “We are thrilled to retain the two accolades at the AFLAS Awards. We are grateful to the award organiser for recognising our unwavering efforts and to our customers for their enduring trust and support. While our commitment to service excellence is steadfast and constant, we are innovative in our logistics solutions and flexible in accommodating our customers’ changing needs, especially at a time of turbulence in the global supply chain. Our reliability and resilience will continue to serve our customers well and enable us to make the best of the changing logistics landscape to capture market opportunities.”

In 2023, KLN expanded its after-sales services to the electronics and technology supply chain to add value to the consumer experience. It has also implemented the “KOOLBee” sorting robots for a global fast fashion brand to enhance sorting productivity and delivery efficiency. As the volatility in the freight market intensified in late 2023, KLN offered alternative services to customers with its innovative sea-air and road-air freight solutions connecting Asia and Europe, which reduce lead times and costs. Earlier in 2024, KLN acquired a majority stake in leading French international freight forwarding company Business By Air SAS to strengthen KLN’s position in the EMEA region and international freight forwarding capabilities across the globe.

The AFLAS Awards were inaugurated in 1986 by Asia Cargo News to recognise leading service providers of the shipping and supply chain industry in the Asia Pacific region, highlighting their leadership, consistency in service quality, innovation, customer relationship management and reliability. Winners were voted by more than 15,000 Asia Cargo News readers, representing the consensus of the freight and logistics industry players in the region.

Ping An Asset Management Up to No. 33 in Top 500 Asset Managers 2024

HONG KONG and SHANGHAI, June 26, 2024  — Ping An Asset Management Co., Ltd. (PAAMC) is ranked 33rd in the world in Top 500 Asset Managers 2024 list from Investment & Pensions Europe (IPE), up three spots from last year. It is ranked number 3 in Asia. PAAMC, established in 2005, is a subsidiary of Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An”, the “Company” or the “Group”, HKEX: 2318 / 82318; SSE: 601318).

This is the fifth consecutive year PAAMC has been on the list, and fourth consecutive year in the top 50. Entrusted with Ping An’s insurance funds, PAAMC provides comprehensive third-party asset management services and one-stop investment management solutions to domestic and overseas customers. As of December 31, 2023, PAAMC’s assets under management (AUM) amounted to RMB5.03 trillion. In 2023, PAAMC became a signatory of the UN-supported Principles for Responsible Investment (PRI) in the Investment Manager category.

Jacqueline Zhang, Deputy General Manager of PAAMC, said: “This ranking not only helps asset owners such as global pension funds to understand Chinese asset management companies and consider asset allocations in the Chinese market, but also opens the door for cross border cooperation between international asset management companies and Chinese companies. As a comprehensive asset management company with both global perspective and local experience, PAAMC will continue to benchmark itself against top international standards, provide professional and high-quality asset management solutions to customers and partners around the world, and contribute to the long-term prosperity and development of China’s capital market.”

There are 52 Chinese asset management companies included in this year’s IPE ranking, with a total AUM of RMB72.4 trillion as of the end of 2023. The increasing number of Chinese companies and AUM show the strong growth of China’s asset management industry.

IPE is a London-headquartered international media company focusing on institutional investors and pension management. It has earned a strong reputation among global institutional investors and pension fund managers. Each year, IPE assesses insurance, asset management, wealth management subsidiaries and fund management companies around the world and issues reports based on research and publicly available market data. Their reports are seen as the benchmark of the global asset management industry.

CoinEx Charity Supports Blockchain Education in the Philippines at the Blockchain Campus Conference

HONG KONG, June 26, 2024 / — On June 13th, CoinEx Charity sponsored and participated in the Philippines’ Blockchain Campus Conference, held in Makati City. The event attracted over 1,000 scholars, students, principals, blockchain enthusiasts, and curious individuals.

The conference at iAcademy Campus in Makati City explored the transformative potential of blockchain in sectors such as finance, retail, government, and entertainment. It provided a platform for learning, exchanging ideas, and sharing blockchain skills among students, professionals, businesses, and communities. CoinEx Charity leveraged this opportunity to deepen its understanding of the Philippines’ blockchain market and engage in discussions about blockchain’s boundless potential.

The CoinEx Charity booth became a focal point at the event, attracting over 1,000 students interested in CoinEx’s services and products. The conference also featured philanthropic lectures and discussions, with industry professionals and the CoinEx Charity team delivering speeches. The team shared insights on blockchain principles and future applications, enriching local students’ knowledge and igniting interest in the technology.

By participating in the Blockchain Campus Conference, CoinEx Charity showcased its leading position in blockchain education and strengthened its connections with the local community and students. Through charity activities and projects, in collaboration with global philanthropic partners, CoinEx Charity aims to provide high-quality educational resources, promote blockchain adoption, and contribute to a fair, transparent, and harmonious world.

Tiger Brokers obtains upgraded license to offer virtual asset trading services for retail investors

HONG KONG, June 17, 2024 — Tiger Brokers (HK) (“Tiger Brokers (HK)” or “Tiger Brokers”) has announced that following the recent introduction of virtual asset trading services for professional investors, it has now received approval from the Securities and Futures Commission of Hong Kong (SFC) to upgrade its license, allowing it to extend these services to retail investors in Hong Kong. Retail investors can now trade Bitcoin (BTC) and Ethereum (ETH), through Tiger Trade, Tiger Brokers’ flagship investing platform, at competitive rates. This platform also supports seamless trading and management of various global assets, including stocks, options, futures, US Treasury bonds, and funds, alongside virtual assets.

John Fei Zeng, Chief Financial Officer and Director of Tiger Brokers stated: “We have seen a growing interest among investors in virtual asset investments. Many investors not only hold virtual assets but also stocks and other assets in their portfolios. Tiger Brokers aims to provide a secure, convenient, and cost-effective platform for all Hong Kong investors, allowing them to trade both traditional financial securities and virtual assets within a single app. This eliminates the need to open multiple accounts on different platforms and enhances capital efficiency. For example, when a major event occurs in the stock market, investors can sell their virtual assets and immediately buy securities at Tiger Trade to quickly seize the opportunity.”

He added, “Since the SFC released new regulations last year allowing licensed trading platforms to serve retail investors, and with Hong Kong becoming the first market in Asia to launch spot Bitcoin and Ethereum ETFs this April, these developments highlight Hong Kong’s support for compliant and innovative growth of various asset types as a leading global financial center. As the virtual asset trading industry gradually integrates into Hong Kong’s mainstream finance, it is expected to attract more international capital and investors. As a licensed broker in Hong Kong, Tiger Brokers will strictly adhere to regulatory compliance standards to protect investors’ interests and contribute to the healthy development of the industry.”

In January, Tiger Brokers received an upgrade to its Type 1 license conditions from the SFC, making it one of the first mainstream online brokerage firms in Hong Kong to receive approval for such a license upgrade. In early May, Tiger Brokers launched virtual asset trading services for Hong Kong investors, becoming one of the first online fintech brokers in Hong Kong to offer a single platform that allows trading and managing both traditional securities and virtual assets. In a month’s time, it has expanded its business scope to include retail investors in Hong Kong, demonstrating its rapid progress in the virtual asset sector. The fees for retail investors are the same as professional investors, with a commission rate of 0.2% of the transaction amount and no custody fees, making it highly cost-effective within the industry. In addition, virtual asset trades are settled instantly, and trading hours are available 24/7.

Fosun’s Finloop Forecasts 10-Fold Surge in Asset Management Scale

HONG KONG, June 12, 2024- Finloop Finance Technology Holding Limited (“Finloop”), a leading digital intelligent wealth management platform independently incubated by Fosun Wealth International Holdings Limited (“Fosun Wealth”), a subsidiary of Fosun International (00656.HK), announced today that it has entered into strategic cooperation agreements with multiple leading fintech companies, including China Asset Management (Hong Kong), Taikang Asset Management (Hong Kong), Ping An of China Asset Management (Hong Kong), Bosera Asset Management (International), E Fund Management (Hong Kong), Zhong Ou Asset Management International, Hundsun Ayers Technologies, Hithink RoyalFlush Information Network, etc. According to the agreements, the signing parties will jointly integrate their professional expertise and resources in fintech to drive the digital transformation of wealth management at financial institution, meeting the personalized and diversified needs of clients undergoing digital transformation, providing a full range of financial products and one-stop solutions, and injecting new vitality into the Hong Kong financial market.

Finloop boasts industry-leading research and development capabilities as well as solution implementation capabilities. It is currently the sole fintech service provider in the Hong Kong financial market that offers a one-stop wealth management platform and solutions. Its independently developed technology platform allows it to provide financial institution clients with a full range of wealth management products covering cash management, public funds, privately offered funds, structured products, bonds, and insurance. It can also provide personalized asset management and investment services tailored to client needs. Currently, its client base includes commercial banks, securities firms, cross-border e-commerce platforms, family offices, wealth management firms, insurance brokers, and fund management companies. Finloop’s assets under management are expected to exceed HK$10.0 billion this year, representing a tenfold growth. The company aims to reach a scale of hundreds of billions in assets under management over the next three years, endeavoring to become one of the most influential ToB wealth management platforms in Asia.

Technology innovation is one of the important drivers for Fosun’s development. Fosun’s financial report shows that its investment in technology innovation reached RMB7.4 billion in 2023, representing a year-on-year increase of 14% on a comparable basis. In recent years, Fosun’s long-term investment in technology innovation has entered a harvest period, with various businesses, including financial services, yielding successful results.

On 5 June, Fosun Wealth’s subsidiary, Fosun International Securities Limited (“Fosun International Securities”), announced that it has obtained the virtual asset dealing service license from the Securities and Futures Commission of Hong Kong (“SFC”). In recent years, the virtual asset trading market has seen tremendous growth potential, and has become a highly contested battleground for major financial service providers. Fosun International Securities’ obtainment of the virtual asset dealing service license from the SFC is an important recognition of the company’s solid professional financial capabilities and stable and reliable trading platform. This license has enabled Fosun to extend its financial management and investment services in Hong Kong to include virtual asset trading and virtual asset product distribution services. It has also broadened Fosun’s trading products and services to encompass virtual asset derivatives, such as exchange-traded funds (ETFs) and virtual asset ETFs.

Fosun’s global business presence and robust operational resources have enabled synergies and resource integration between its various business segments, which can drive “multiplier” growth. Fosun International Securities’ obtainment of the virtual asset dealing license and Finloop’s innovative breakthroughs in the Hong Kong market have demonstrated Fosun’s leading edge in wealth management.

The wealth management business offers financial institutions the advantages of light assets, high profitability, and low volatility. It serves as an important stabilizing and smoothing force that helps to steady the business operations of financial institutions, holding tremendous value. Recently, the Hong Kong financial market has returned to an upward trajectory, and the expected interest rate cuts in the second half of the year are anticipated to further boost the investment climate. The market expects a significant increase in institutional investors’ asset management needs, marking a crucial turning point. Looking ahead, Fosun’s fintech business is poised to fully enter a harvest period and is expected to become an important highlight of Fosun’s performance.

“2024 IOT Data Hackathon” Concludes Successfully Inspiring and Nurturing Local Innovation & Technology Talents

HONG KONG, June 11, 2024– The first-ever “IOT Data Hackathon” organised by GS1 Hong Kong (GS1HK) had concluded successfully. 8 teams from both the student and professional categories had outdone more than 80 teams of candidates and won a total of 10 awards. They had demonstrated innovative uses of IoT technologies and outstanding creativity to develop impactful solutions addressing real-world business challenges under the themes of “Smart Cities” and “Smart Supply Chains”, helping to shape a more sustainable future. Their novel ideas and innovations are briefly illustrated below, or visit the award booklet for details:

Professional Category Award-Winning Projects

The championship went to TriTerra Technology Limited’s Car Park Load Shifting Charging System. They developed a smart load-shifting charging system that optimizes energy management for electric vehicle charging in car parks through dynamic load management and time-of-use charging strategies. The system adjusts charging power in real-time to prevent grid overload and determines the optimal charging times based on electricity prices, reducing charging costs.

The 1st runner-up and Smart IOT Solutions Award for EV Charging (professional group) were Reunion’s Smart Plug. They developed a smart plug that enables intelligent management of home appliances through IoT technology, providing remote control and power monitoring functionalities. The plug also features overload and short-circuit protection to ensure electrical safety.

The 2nd runner-up was DevAdventurers’s All-In-One Monitoring & Predictive Maintenance Platform. They proposed an all-in-one monitoring and predictive maintenance platform that monitors equipment status in real-time to detect potential issues early. By leveraging machine learning algorithms, they predict equipment failures in advance, reducing downtime and enhancing equipment management efficiency.

Student Category Award-Winning Projects

The championship went to CHML’s Renovation of In-Store Inventory System. They proposed two systems, “Forecast X” and “SmartStock,” which utilize AI and IoT technologies to enhance the accuracy and efficiency of inventory management. These systems can accurately predict inventory demand during promotions and extreme weather conditions and ensure that shelves are always stocked through real-time monitoring. The solution not only improves inventory management accuracy but also boosts operational efficiency and customer satisfaction.

The 1st runner-up was Roomates’s Smart Charge. They developed an intelligent charging solution that optimizes the utilization of charging stations through dynamic pricing strategies, preventing misuse. Their system adjusts prices in real-time based on market conditions and demand, maximizing the occupancy of charging stations.

The 2nd runner-up and Smart IOT Solutions Award for EV Charging (Student Category) went to TEAM CITYU’s SparkLink. It is an innovative application addressing the shortage of EV charging infrastructure in Hong Kong. It uses deep learning models to classify electric and non-electric vehicles. Their predictive vacancy model enhances charger availability and parking efficiency.

Special Award-Winning Projects

Best ESG Achievement Award was awarded to CECAS’s AIOT Lift & Escalator Maintenance System. They developed an AI and IoT-based lift and escalator maintenance system, improving the safety and efficiency of equipment operations. The system uses intelligent sensing technology for real-time monitoring of equipment status and predicts equipment failures through data analysis, enabling remote maintenance, reducing maintenance costs, and ensuring reliable operation.

Innovator of Secure by Design was presented to RightPick Technology Limited’s Cybersecurity Solution. They proposed a comprehensive cybersecurity solution for IoT environments, ensuring the security of enterprise data and systems. The solution includes secure gateways, threat detection, and response systems, capable of real-time monitoring and defense against cyber-attacks, ensuring the data security of IoT devices.

The Future of Urban Living – The Sustainable Communities of Tomorrow

By – Akash Pharande, Managing Director – Pharande Spaces

Akash Pharande, Managing Director - Pharande Spaces

I travel a lot to understand how different countries address their urban sprawl because we use such insights to design integrated townships here in India. In fact, one result of these travels was our partnering with a globally acclaimed architect who helped us recreate a global residential experience in India.

However, my main takeaway from this globetrotting has been far less positive – the alarming rate at which rampant urbanization is challenging even the most glamorous world cities.

As cities’ populations overflow, traditional urban infrastructure groans and often crumbles under the strain of housing demands. Did you think that overcrowding and declining living standards are the order of the day only in India? Far from it – it is a global phenomenon.

The Global Scenario

In the thronged streets of New York, Tokyo, and Hong Kong – and even in Berlin, Hamburg, and Stockholm – urban sprawl running wild is in evidence everywhere. In India, we have accepted congestion, pollution, and stressed infrastructure, but be aware that very few countries are exempt from them anymore.

Across the world from Asia to Europe to North America, local governments and expert city planners are implementing the only viable solution. You guessed it – integrated townships.

In Singapore and the United Arab Emirates, self-sufficient, self-contained integrated projects have in fact been at the forefront of urban planning for many decades. Singapore, in particular, is famous for master-planned communities such as Punggol and Tampines, which integrate residential, commercial, and recreational facilities to create vibrant and self-sustaining neighborhoods.

-township-

In the UAE, integrated developments like Dubai Marina and Masdar City deliver comprehensive living and working environments for residents. In Europe, Sweden and the Netherlands have embraced the concept of integrated townships to promote sustainable urban development.

Stockholm and Amsterdam have pioneered eco-friendly neighbourhoods that prioritize walking, cycling, and public transportation while incorporating green spaces and mixed-use developments.

In North America, integrated townships have gained traction in response to urban sprawl and the growing trend for more walkable and inclusive communities. Vancouver in Canada and Portland in the United States have implemented policies to encourage mixed-use development and compact urban forms.

This approach has given rise to highly integrated neighborhoods that provide everything their residents will ever need – living spaces, offices to work in, as well as shopping malls and recreational amenities.

Integrated Living – No Alternatives

If this sounds like a marketing prospectus for a modern integrated township in India, it’s because while we certainly haven’t pioneered the concept, we have certainly caught on to it big time. And for good reasons.

A report by international property consultants JLL India entitled ‘Livability quotient – a paradigm shift in India’s emerging cities’ puts it very aptly – “A balanced lifestyle contributes highly to the livability quotient of a city or township,” it states. “Amenities for leisure and recreation such as sports facilities, gymnasiums, clubhouses, malls and shopping streets are considered lifestyle amenities and are much appreciated by users.”

“Townships managed by private developers have an advantage over cities managed by local governments. The high level of interaction that happens between a township developer and customers naturally enables a focused delivery of services.”

I guess there’s no better way of putting it. As our larger cities draw more and more inward migration because of their employment prospects, we certainly need better solutions to house everyone. India’s growing upper-level middle class expects to find housing that multi-tasks and delivers on their lifestyle preferences.

What better solution for this than integrated mixed-use developments where they can seamlessly transition between living, working, and leisure activities without enduring long commutes?

As the successful eco-cities of Scandinavia and the master-planned communities of Singapore and the UAE demonstrate, integrated townships are a concept whose time has come – and is, in fact, by now an imperative in India.

intergrated township

A Long Way to Go

As Anarock Property Consultants put it, the growing demand for integrated townships in India has risen even more in the wake of changing housing preferences post-pandemic. However, despite the increased interest, integrated townships still represent only a fraction of the total housing supply in India. Since 2010, only about 2% of all housing projects in the top seven cities fell in this category,

Clearly, we are missing something important here.

India is a nation at a crossroads in its urbanization journey. Rapid population growth, rural-urban migration, and fragmented urban planning have spawned a host of challenges, from sprawling urban sprawl to choked traffic arteries and polluted air. The need for holistic urban planning has never been more pressing.

Integrated townships offer hope amidst this urban chaos. With the government’s ambitious plans to create smart cities and revitalize urban infrastructure in a country where land scarcity, fragmented development, and outdated infrastructure are the norm, there is quite simply no other solution.

Without integrated townships, the status quo in India is frankly unsustainable. With every passing year, our trajectory of urbanization is spiraling further out of control – with far-reaching consequences on our society, our environment, and our economy.

Beyond just bricks and mortar, integrated townships also serve as catalysts for economic growth and building strong, wholesome and supportive communities. They provide local employment opportunities, reduce dependence on city centers, offer higher returns on investment, and provide a holistic solution to the many challenges we face in our cities.

About the Author:

Akash Pharande is Managing Director – Pharande Spaces, a leading real estate construction and development firm famous for its township projects in West Pune and beyond. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer of townships in West Pune. With the recent integration of Puneville Commercial into one of its most iconic townships, Pharande Spaces taken a major step towards addressing Pune’s current and future requirements for fully integrated residential-commercial convenience.

Success of CMAI FAB Show 2024 Beckons a Bright Future for India’s Textile & Apparel Industry

Mumbai, April 19, 2024: The Fabrics, Accessories & Beyond Show 2024 (FAB Show 2024), hosted by the Clothing Manufacturers Association of India (CMAI), wrapped up its 4th edition on a successful note consequently boosting Textile industry sentiments with exceedingly high business prospects. The three-day event, which took place from April 15 to April 17 at the Bombay Exhibition Centre, Mumbai, outperformed industry expectations with an estimated business generation of more than 2,100 crores.

The trade show successfully attracted 10,200 trade visitors from 320+ cities across India which included over 1,500 elite platinum buyers. Moreover, overseas buyers from 16 countries mainly Bangladesh, UAE, Bahrain, Egypt, Russia, Hong Kong, USA, Kenya, Sri Lanka and Nepal also visited the show. The presence of sourcing heads from renowned brands and retail majors like Aditya Birla Fashion & Retail, Bestseller, Gokaldas Exports, Kora, Mufti, Pepe Jeans, Reliance Brands, Shoppers Stop, Soch, Stori, Spykar, Westside and many others further boosted industry confidence thus reflecting the event’s importance as a prime sourcing platform.

Speaking about the success of FAB show, Rajesh Masand, President, CMAI expressed, “The impact of this grand sourcing event will resonate across the garment industry supply chain, promising not only immediate business but also long-term strategic developments and new sourcing relationships for all stakeholders involved. The remarkable success of this year’s show reflects a buoyant industry outlook, fuelling optimism for a robust recovery in the upcoming seasons. This resurgence comes at a crucial time as our industry was stressed with tepid demand and recent challenges like the amendment affecting MSME payments. With the positive momentum generated by the FAB Show, there is a renewed confidence that the industry outlook will soon be back on growth path.”

This year’s FAB Show was a focal point for industry Innovation and Sustainability, showcased by over 200 domestic exhibitors, including major names like Grasim, Arvind, Siyaram’s, Gokul Print, Jindal, Banswara Syntex, Ruby Mills, Bhagwan Enterprise apart from many MSME’s. Noteworthy participants from diverse sectors such as fabric suppliers, accessories manufacturers, and software developers demonstrated their latest offerings and services to a discerning audience.

“FAB Show 2024 has set a new benchmark for success in the textile & apparel industry, reflecting our commitment to driving growth and sustainability,” said Naveen Sainani, Chairman FAB Show, CMAI. The Sustainability zone was a major attraction at the fair which showcased fabrics crafted from waste, recyclable materials and educated about benefits of waste water management promoting innovation & circularity which is a cornerstone of CMAI’s holistic strategy to engage, educate, and inspire the garment industry. He further elaborated “Our environment is changing and if the world can’t avoid deforestation, we need to invest in reforestation. On behalf of the 2876 visitors who pledged to voluntarily become earth warriors, CMAI will be planting 2876 tree saplings to create a healthier environment, fight climate change, and protect biodiversity”.

The Surat Pavilion organized by the Southern Gujarat Chamber of Commerce & Industry (SGCCI) showcased over 40 leading fabric manufacturers for the fourth consecutive edition of FAB. One of the key reasons for the popularity of the Surat pavilion amongst the visitors is their ability to present the latest trends and understand the needs of the garment industry. Speaking about the current business landscape, Siddharth Dhawan, Director, Gokul Tex Print – a leading fabric manufacturer from Surat, expressed, “We have seen a steady growth over the last year, which slowed down in the last few months due to the MSME payment amendment that came in. This year, we are confident that starting June till December, signs of growth will become evident as we deliver the merchandise to manufacturers, which they will provide in the market.” Another participant, Ritesh Patel, Director, Surbhi Textile Mills from Surat said “We received an extraordinary response for all of our products and the presence of buyers from all across the country gave us a great exposure. We are looking forward to participate in the next CMAI show”.

Speaking about their business outlook, Murugan Thenkondar, President – Marketing & Global Head – Business Development, Aditya Birla (Cellulosic Fibres) stated “The export market is facing a lot of turbulence currently and our domestic market has been growing steadily which is the reason we are exhibiting here. CMAI has been highly successful in presenting the textile value chain to participate mainly in cloth manufacturing brands, yarns, weavers, knitters, spinners and fibres thus offering a one-stop-destination to meet sourcing requirements. Distinguishing from other fairs, FAB is an excellent annual platform for the domestic customers and we are seeing a lot of positive energy at the show”.

CMAI FAB Show 2024 1

Sailesh Kukreja, Managing Director, Bhagwan Enterprise from Mumbai elatedly said “We thank CMAI for implementing innovative measures to ensure the presence of buyers from across the country that made the fair a thrilling success. The exhibition was well organized and the on-spot visitor registration process was very swift. The overall publicity campaign was very well designed and consistently created a buzz on social media. We look forward to participating in all upcoming CMAI fairs and hope for a grander success”.

Speaking about Sustainability, J.P. Singh, Director, Ramtex – Parmeshwari Silk Mills from Ludhiana said, “We are committed to Sustainability and have adapted eco-friendly processes to save approximately four lakh litres of water daily. It is heartening to see that consumers are getting more environment-conscious by the day and are preferring eco-friendly fabrics such as ours. Our main markets have been Punjab, Haryana and Delhi; however, we have started receiving increased demand through our distributors from Mumbai, Pune, Hyderabad, Chennai, Bengaluru, Kolkata and Indore too.”

A lucky draw contest was also held on all the three days of the show wherein Rupees 10 lacs worth of scooters, gift cards, and holiday vouchers of leading brands were handed out to visitors and exhibitors.