Month: January 2024

Introducing Inclusive Workout Clothing and Accessories to Elevate Your Fitness Journey

Myprotein, the world’s No.1 online sports nutrition brand, announces the launch of its highly anticipated Power and Velocity Collections. Tailored for the New Year 2024, these exclusive lines of workout clothing and accessories are set to redefine fitness fashion.

Designed to cater to all body sizes, Myprotein ensures inclusivity with a range spanning from XS to XXL. Say goodbye to size limitations and embrace a fitness wardrobe that caters to every individual. The Power and Velocity Collections showcase a spectrum of vibrant colours, allowing fitness enthusiasts to express themselves while breaking a sweat.

Sanya Chhabra, Regional Marketing Manager, Myprotein“We believe that everyone deserves to look and feel great during their fitness journey. Providing for style and function, both aspects have been incorporated in the collection, along with a vision for an inclusive line – which the Power and Velocity Collections celebrates”

The materials used in these collections are of the highest quality, ensuring durability and comfort during intense workouts. For detailed information on the materials and other product specifications, please refer to the links below. Link

~ One of the fastest growing companies in the month of December FY24 with a GDP of INR 1001 crores ~

 

SBI General Insurance, one of India’s leading General Insurance companies, registered a significant growth of 50% in the month of December FY 24, leading to GDP of INR 1001 crore. The Company has contributed around 14% to the overall accretion of private insurance industry, marking the highest accretion in the month of December FY 24.

 

The Company’s diverse product portfolio, combined with itsdistribution and itsreachhas resulted in SBI General improving its private market share to 6.41% in the month of December FY 24, with an improvement of 137 basis points in market share over the corresponding month of last financial year.

 

In the month of December, the Company also showcased strong growth across retail, commercial lines, and rural &agri business. The Company remains No. 1 in the Personal Accident segment, along with its strong presence in various lines of business including Health, home, commercial and Motor.

 

In the 9M FY 23-24, the General Insurance industry registered a growth of 14%, while the Company has registered a growth of 23%. The growth is primarily driven by the health and motor segment, which continues to be the largest contributor in the general insurance sector.

 

Commenting on the Company’s performance, Mr. Kishore Kumar Poludasu, MD & CEO, SBI General Insurance, said, “We're happy to share that we have registered a 50% surge in December premiums and a steady 23% growth in the first nine months of FY24, marking a significant growth for SBI General Insurance. The growth is attributed to our unwavering commitment to a customer-centric approach. We continue to achieve sustainable growth with profits. Looking forward, we see 2024 as a year of continued growth, as we will keep setting new benchmarks in the industry. With the objective of making insurance available to all by 2047, we will continue to develop simple and innovative products for our customers.”

The European Union’s new customs pre-arrival safety and security system – Import Control System 2 (ICS2) –will introduce a new process for entry of goods by maritime and inland waterways, road and rail in the EU[1]as of 3 June 2024.This is the third phase or release of the implementation of the new systemthat will extend safety and security data reporting requirements to all modes of transport.Similar requirements alreadywent into force for air transportation of goods.

With this third release, maritime and inland waterways, road and rail carrierswillalso need to provide data on goods sent to or through the EU prior to their arrival, through a complete Entry Summary Declaration (ENS). This obligation also concerns postal and express carriers who transport goods using these modes of transport as well as other parties, such as logistics providers. In certain circumstances, final consignees established in the EU will also have to submit ENS data to ICS2.

Traders are strongly advised to prepare in advance for Release 3 to avoid the risk of delays and non-compliance. Affected businesses will be required to make sure they collect accurate and complete data from their clients, update their IT systems and operationalprocesses, and provide adequate training to their staff. From 11 December 2023, traders will also need to successfully complete a self-conformance test before connecting to ICS2, to verify their ability to access and exchange messages with customs authorities.

EU Member States will grant authorisation, upon request, to the affected traders togradually connect to ICS2 within atime-limited deployment window. Member States can grant the deployment window anytime within the following timeframes: from 3 June 2024 to 4 December 2024 (maritime and inland waterway carriers); from 4 December 2024 to 1 April 2025 (maritime and inland waterway house level filers); and from 1 April 2025 to 1 September 2025 (road and rail carriers). If traders are not ready on time, and do not provide the data required under ICS2, goods will be stopped at the EU borders and will not be cleared by the customs authorities.

The EU is a major player in international trade – it accounts for around 14 % of the world’s trade in goods.By collecting safety and security data, EU customs authorities will be able to detect risks earlier and to intervene at the most appropriate point in the supply chain to keep trade safe for the EU and its citizens. ICS2 will simplify the movement of goods between customs offices at the first point of entry and final destination in the EU.ICS2 will provide a single access point to communicate with all EU Member States’ customs authorities for all EU operations instead of 27 national interfaces. For traders, ICS2 will also streamline requests for additional information and pre-departure risk screening by customs authorities, thus reducing administrative burdensfor businesses.

ICS2in detail

ICS2 has been prepared in close collaboration between the European Commission, Member States’ customs authorities and businesses. The system is being implemented in three releases that will gradually replace the existing import control system.

With Release 1, from 15 March 2021, postal and express consignments coming to or through the EU by air became subject to a subset of the Entry Summary Declaration (so called pre-loading advance cargo information – also known as PLACI) prior to their loading onto the aircraft bound for the EU.

With ICS2 Release 2, from 1 March 2023, air cargo general consignments also became subject to the PLACI filing and to the complete set of data of the Entry Summary Declaration (ENS) prior to their arrival.

Release 3 is the third phase and will include maritime andinland waterways, rail and road modes of transport from 3 June 2024. Affected traders will need to be operationally ready for ICS2 within a time-limited deployment window.Like Release 2, the data filing will be provided in one single complete ENS filing, if all the necessary data is available to the party that files and assumes the responsibility for bringing the goods into the EUcustoms territory. Alternatively, it can be done with multiple filings, where more than one partial ENS filing is submitted by different actors in the supply chain. In case of multiple filings, each filer is responsible for ensuring that their own filings are submitted in a timely, accurate and complete way.

• Apollo Hospital's Pioneering Research Redefines Prostate Cancer Screening Standards for Indian Men
• Unveils New Reference Values in the Largest Study of its Kind conducted with close to 1 lakh men with no prior disposition to the disease

 

In a monumental stride towards advancing prostate cancer care in India, Apollo Hospitals, the world's largest integrated healthcare provider, has unveiled groundbreaking findings in its latest study, 'Determining age‑specific prostate‑specific antigen for healthy Indian men’ published the prestigious Indian Journal of Urology. Led by Dr. N Ragavan and Dr. Sanjai Addla, from Apollo Chennai and Apollo Hyderabad, respectively, the study involved nearly 100,000 healthy men across diverse age groups and regions in Indi a, establishing new reference values for prostate-specific antigen (PSA) specific to the Indian demographic.

PSA is an established blood marker for early diagnosis and monitoring of treatment for prostate cancer. Since 1993, international norms for normal PSA values have been based on a study from the USA and the same have been adopted in India. The western standards quiet often were found to be ill-suited for the Indian population over to diverse genetic demarcations.  This latest groundbreaking Apollo study reveals that PSA values in India differ, prompting the establishment of new, tailored standards. Key findings include age-specific PSA standards, a progressive increase in PSA levels with age, and Indian-specific PSA values facilitating earlier detection in younger men.

With this, Apollo hospitals, clinics and diagnostics network will move towards the adoption of these new PSA standards for Prostate Screening.

Dr Sangita Reddy, Joint Managing Director, Apollo Hospitals said, “This landmark study ushers a transformative moment in India’s prostate cancer care landscape, which resonates with our mission to conquer cancer, at every touchpoint possible. Establishing new prostate cancer screening standards for Indian men across ages in a landmark study reflects our commitment to pioneering advancements that redefine cancer care. With divergent PSA standards for different age groups, a progressive increase in levels with age, and Indian-specific values, we are transforming the landscape of prostate cancer care. This monumental shift not only facilitates earlier detection in younger men but also prevents unnecessary investigations in older individuals. By adopting these tailored standards, Apollo Hospitals reaffirms its commitment to patient-centric care and sets the stage for a new paradigm in healthcare innovation.”

  

Prof Sanjai Addla, Consultant Uro-oncologist, Apollo Hospitals, Jubilee Hills, Hyderabad: “Our study, the largest in India, re-evaluates the age-specific PSA reference ranges tailored for the Indian population. Having data from 1lakh healthy men, we are confident to bridge the gap and enhance the accuracy of serum PSA testing in detecting prostate cancer among Indian men, improving its efficacy as a diagnostic marker and provides hope of treatment for those in the advanced stages also.As the incidence of prostate cancer rises in India, our study sought to address the limited data on age-specific PSA levels in our population. The observed link between serum PSA levels and age among Indian men contrasts with established standards for Caucasian men. This study offers a significant opportunity to redefine age-specific PSA reference ranges for Indian men, enabling more precise clinical decision-making and enhancing our ability to combat prostate cancer effectively.”

Key findings from the Apollo study published in the Indian Journal of Urology of PSA values in 100,000 healthy men who visited Apollo Hospitals (during 2011-2018) for Indian population norms:

• Established divergent PSA standards for different age groups, contrasting with prior global norms.
• Revealed a progressive increase in PSA levels with age: <1.4 ng/mL (<40) to 11.3 ng/mL (>80).
• New Indian-specific PSA values aid earlier prostate cancer detection in younger men with lower PSA levels.
• Prevents unnecessary investigations in older men; new reference range for patients in their 70s and 80s is notably higher.
• Sets the foundation for tailored investigation and treatment in Indian men based on

PSA values.

 

Age	Old Reference value ng/ml (95th Centile limit)	New Reference value ng/ml (95th Centile limit)
≤40 years	NA	<1.4
41-50 years	<2.5	<1.7
51-60 years	<3.5	<3.1
61-70 years	<4.5	<5.8
71-80 years	<6.5	<8.82
>80 years	NA	<11.3

 

Committed to patient-centric innovations, Apollo has acquired the latest bk5000 Ultrasound system. This allows us to deliver an integrated state-of-the-art diagnostic for prostate cancer detection, implementing the latest procedure known as Trans-Perineal Real Time Fusion (TP RTF) prostate biopsy. This approach avoids the contaminated transrectal (back passage) route minimizing the need for hospital admissions, bring down the risk of infection and sepsis to almost nil, and ensures a safer and more streamlined biopsy experience for Apollo patients.

~ The airline is also offering numerous promotional tickets starting from INR 5,555~

 

Celebrating participation in the prestigious Gujarat Vibrant Global Summit 2024 in India, Vietjet is delighted to extend exclusive promotional offers to its valued customers. In a bid to foster enhanced trade, tourism, and cultural exchanges between India and Vietnam, the airline is pleased to introduce promotional tickets starting from just INR 5,555 (*).

 

As a part of its ongoing efforts to strengthen ties and create memorable experiences, the airline proudly unveils its second campaign, “Love Connection 2024.” This program will aim to bring joy to Indian couples by gifting 50 free flights to those with remarkable love stories. These promotional tickets will be available for purchase every Wednesday, Thursday, and Friday (GMT+7) on the official website vietjetair.com and the Vietjet Air mobile App. With flexible flight times throughout 2024, the airline will aim to facilitate seamless and convenient travel for individuals seeking to explore the cultural and tourist delights of both nations.

 

Building on the success of the “Love Connection – Fall In Love All Over Again 2023” program, the “Love Connection 2024” campaign is poised to further celebrate and honour the love stories of Indian couples. By sharing their vibrant tales and travel aspirations on Vietjet's dedicated website at loveconnection.vietjetair.com, Indian couples stand a chance to be among the 50 winners receiving complimentary Vietjet flights to explore captivating destinations in Vietnam in 2024.

 

Furthermore, from now until January 16, 2024, passengers can enjoy an immediate discount of up to 20% on Business class and SkyBoss ticket prices by using the code “SBBUIN” on making online purchases through Vietjet's sales channel. The flexible flight times for this promotion range from January 10, 2024, to June 31, 2024 (GMT+7) (**).

 

The airline is currently operating 35 round-trip flights per week, across 5 major cities in India – Mumbai, New Delhi, Ahmedabad, Kochi, and Tiruchirappalli. The airline provides four distinct ticket classes, namely Business, SkyBoss, Deluxe, and Eco, ensuring a comprehensive range of services to cater to diverse passenger needs. Business class tickets offer an exquisite travel experience on Vietjet's modern wide-body aircraft A330, featuring exclusive privileges such as private check-in counters, business lounges, private cabins, cocktail services, and the opportunity to savour Vietnamese specialties like Pho Thin, Banh Mi, as well as specially crafted Indian vegetarian dishes and Halal options.

 

(*) All in, one-way prices;

(**) Terms and Conditions applied.

The interesting insights from IKEA’s 10th Life at Home report hit the relatability quotient with India’s Millennials and Gen Zs

 

Swedish home furnishings brand IKEA launched their 10th Life at Home report with insights around how Indians live at home. IKEA spoke with thousands of families and captured a decade of discoveries in one of their biggest annual studies around life at home. As priorities evolve, homes have also gone through a series of transformations over the years. The IKEA Life at Home Report 2023 is a culmination of findings from extensive research as well as insights from nine previous editions, 2014–2022. These insights help IKEA create a better everyday life for the many people and develop home furnishing solutions that suit their needs, wants, and dreams.

The global report identifies 4 major themes this year: Current and Future Homes, Sleep, Movement, and Needs of Home.

 

Delving into India, the report finds that for 50% of Indians, home is their favourite place to be, and 63% of Indians shared that they feel positive about their current life at home. Living close to the ones they love is a big contributor to this. The report revealed that 35% of Indians say that living close to family and friends and 33% shared that being with the people they love are the main elements of feeling comfort and secure at home. So, here’s to endless movie nights, game nights, and shared meals together.

 

The Life at Home Report 2023 also highlights another reason that makes home a happy place for Indians: furry friends. According to the report, 27% of pet owners shared that having a pet is a factor that helps them feel secure at home. Happiness is unconditional love from a pet, and it’s no wonder 32% of pet owners shared that it’s their pets who rule their homes. 31% of owners also said that they choose spending time with their pets and watching their pets sleep, i.e., 18% is a driver of enjoyment at home. Moving to the outer circle, the report also reveals how Indians feel about their neighbours. Connecting with those around us is essential to creating a sense of home, and 23% of Indians said that knowing their neighbours is a main driver of feeling secure at home, so it’s never too late to knock on the door and say HEJ!

 

Cleaning, moving, renovating—2024 seems to be the year for it. 56% of Indians are planning to move in the next two years, and an additional 18% are planning to stay in their current home but renovate it. For a lot of Indians, decluttering is an essential way to create space at home, and 22% shared that a tidy and organised home makes them feel comfortable at home. When it comes to household chores, 22% of women and 17% of men feel they are never-ending. So, whether tidying is therapeutic or whether it’s an obstacle course, keeping it organized is the plan.

 

Indians love their sleep, and according to the report, 33% of Indians find sleeping to be of top importance for nurturing at home, with 23% revealing that a nap brings them the most joy in their life at home. The habits they follow to ensure deep sleep were also revealed. 19% said fresh bed sheets; 12% said having a soothing drink before bed; 31% said it’s their favourite pillow; 26% need complete darkness; 26% said checking that the door is locked; and 10% said looking in the closet or under the bed helps them get the best possible sleep- the recipe for the perfect siesta. The report also revealed a reason for sleepless nights, as 9% of Indians shared that their home may be haunted due to creaky floorboards or strange happenings.

 

Home has become a sanctuary for holistic health, offering a personalised space to foster physical fitness and mental well-being. For Indians, the top three concerns around their life at home are related to health, with 34% prioritising their own physical health, 29% prioritising their mental wellbeing, and 30% focusing on the health of people around them as well. To make home a multi-sensory space that boosts relaxation, Indians have a lot of tricks up their sleeve. 9% set the mood by lighting candles; 19% said having comfortable furniture is essential; 14% said having the right lighting to match their mood is important; and 8% even shared that keeping crystals at home helps create the perfect ambiance.

 

Self-love and personal time, too, found a unique place in the report with 20% of Indians sharing that changing clothes when they come home is the main driver of feeling comfort at home; 13% revealed that they sometimes walk around naked at home; and 31% dance or sing at home when no one is around!

 

“We are obsessed with making life at home better, so it’s been incredible taking a look at the last decade of research to really understand what millions of people around the world and in India need and dream at home. This year’s report highlights that apart from bigger trends like moving and renovation, it’s the little things- like family time, self-care, being a good neighbour, health and wellness, organizing, enjoying meals together at home, and sound sleep- that bring one the ultimate comfort at home. We’ve got the knowledge and the solutions to be a part of these big little moments and will continue to learn from India,” sharesSusanne Pulverer, CEO & CSO (Chief Sustainability Officer) of IKEA India.

In an extension to this year’s report, IKEA collaborated with AI illustrators to imagine and design the homes of the future. The collaboration brings alive three different future scenarios: the first showcases distant family members joining Sunday lunch in a hologram form, the second features bio-solar wallpaper using algae to generate electricity from sunlight, and the last one with chairs created by 3D printers using a mushroom compound. It also explores the new ways we live, sense of community, and how our reliance on the land may change.

~ Uttar Pradesh Joins as the ‘Partner State’ and Madhya Pradesh as the ‘Supporting Partner State’ For Bharat Tex 2024 ~

~ Leading Industry Giants – Aditya Birla Group, Reliance Industries Limited, Arvind Limited and Welspun Living, among others – partner for Bharat Tex 2024 ~

 

Bharat Tex 2024, India's premier global textile event, which will be held in New Delhi from February 26-29, 2024, at Bharat Mandapam and Yashobhoomi, is set to redefine industry standards. Under the esteemed patronage of the Ministry of Textiles, Government of India, and organised by a Consortium of Textile Export Promotion Councils, this event proudly announces strategic alliances with leading national and international textile associations, corporate entities and Indian states. These collaborations mark a significant leap forward, driving growth, innovation, and sustainability across the textile industry.”

 

Bharat Tex 2024 is proud to announce Uttar Pradesh as the ‘Partner State’ and Madhya Pradesh as the ‘Supporting Partner State’. Showcasing the regional textile heritage and progressive initiatives in the states, these partnerships are set to catalyse the textile industry, showcasing the legacy of textiles in these states. Bharat Tex 2024 onboard Aditya Birla Group as the ‘Platinum Partner’, Reliance Industries Limited as the ‘Gold Partner’, Arvind Ltd, Indorama Ventures, Trident Group and Welspun Living as ‘Silver Partners, PDS Limited as ‘Fashion Partner’, Shahi as ‘Sustainability Partner’, Chargeurs PCC as ‘Associate Partner’and WGSN as ‘Trend Partner’.

 

Recognized for their eminence in the textile industry across the world, the collaborations aim to reinforce the commitment of Bharat Tex 2024 to showcase innovation along with India’s rich textile legacy and introduce sustainable practices for propelling the global textile industry.

 

With innovation, collaboration, and the ‘Make in India’ spirit at its core, Bharat Tex 2024 is the embodiment of Hon’ble Prime Minister Narendra Modi’s 5F vision – Farm to Fibre to Factory to Fashion to Foreign. The event is envisaged to be the biggest textile event at the global level, with 3000+ exhibitors and 40,000+ visitors from over 40 countries. Bharat Tex 2024 will be a comprehensive showcase of the entire textile industry value chain, right from showcasing India's rich cultural heritage and textile traditions to the latest technological innovations.

 

The domestic textile associations who have collaborated with Bharat Tex 2024 include the Confederation of Indian Textile Industry (CITI), the Southern India Mills’ Association (SIMA), the Tiruppur Export Association (TEA), the Accessories and Trims Manufacturers Association (ATMA), and the Clothing Manufacturers Association of India (CMAI), the Brands and Sourcing Leaders Association (BSLA),Yarn Ethically and Sustainably Sourced, theSouthern Gujarat Chamber of Commerce and Industry (SGCCI), the Garments Exporters and manufacturers Association (GMEA),theScreen Printers’ Association of India (SPAI), the Polyester Textile Apparel Industry Association (PTAIA),the Denim Manufacturers Association (DMA),the Indian International Garment Fair (IIGF), and the Hindustan Chamber of Commerce (HCC). Revered associations from international fronts include the Bangladesh Garment Manufacturers and Exporters Association (BGMEA)and the International Textile Manufacturers Federation (ITMF).

 

Mr H K Agarwal, Business Director, Aditya Birla Group, expressed his gratitude for the partnership by stating: “I congratulate the Government of India for supporting a first-of-its-kind premier global event dedicated to the textile sector. We are proud of our association with Bharat Tex 2024 as ‘Platinum Partners’ and look forward to a thriving future of our industry in this auspicious era of ‘Azadi Ka Amrit Kaal.” 

 

Commenting on their collaboration with the event, Mr Rajan D. Udeshi, President- Polyester Chain, Reliance Industries Ltd, said: “We are delighted and privileged to be a key participant in the upcoming grand textile event set to unfold in India on a monumental scale. Our enthusiasm knows no bounds as we align ourselves with the 5F vision championed by our esteemed Prime Minister, a vision that is vividly coming to life through the auspices of Bharat Tex 2024.” 

 

Mr Narendra Goenka, Chairman, Bharat Tex 2024, expressed his views on the new partnerships by saying: “We extend our heartfelt gratitude to our esteemed domestic and international textile associations and corporate partners for their invaluable collaboration in making Bharat Tex 2024 a global success. Partnerships with Uttar Pradesh and Madhya Pradesh mark a significant milestone in transforming the textile landscape and their unwavering support fortifies the fabric of our shared vision, fostering innovation and excellence within the textile industry. Together, we weave a tapestry of boundless possibilities, shaping the future of textiles on a global scale.”

 

Mr Bharesh Dodhia, Co-Chairman, Bharat Tex 2024, appreciated the new partnerships by stating, “As we gear up to converge at Bharat Tex 2024, our gratitude extends to all the esteemed associations and partners whose collaboration elevates this event to new heights. Their collective expertise and diverse perspectives infuse this platform with innovation and foster unparalleled growth opportunities. These collaborations will forge pathways that will not only enrich the showcase of Bharat Tex 2024 but also ripple across the global textile landscape, driving transformative advancements and inspiring industry evolution.”

 

Sharing his remarks on coming together for this mega textile event, Mr Rakesh Kumar, General Secretary, Bharat Tex 2024, said: “Embracing the legacy of India’s rich textile heritage and handicrafts, the Export Promotion Council of Handicrafts (EPCH) stands proud as a cornerstone of tradition and innovations. We aim to stitch a vibrant tapestry of creativity, craftsmanship, and commerce. Our commitment resonates through this showcase to foster a dynamic synergy that enriches the textile industry with cultural richness and economic growth.”

 

Bharat Tex 2024 stands as a testament to India's unwavering commitment to spearhead the textile revolution on a global scale. The partnerships established underscore the significance of this event as a beacon for fostering international collaborations, pushing boundaries, and propelling the textile industry into a new era of growth and sustainability. 

 

Bharat Tex 2024 aims to catalyse advancements that transcend geographical boundaries and amplify India's standing as a powerhouse in the textile industry. With a focus on knowledge exchange, technological innovations, and sustainable practices, the collective efforts will redefine the landscape of the textile industry while nurturing an environment conducive to mutual growth and development. This partnership between Bharat Tex 2024 and the textile associations and leading corporate entities underscores its shared commitment to propel the textile sector towards a transformative trajectory. 

 

Bharat Tex 2024 is a consolidated and unique platform to position and showcase India’s entire textile value chain and highlight its strengths in fashion, traditional crafts and sustainability initiatives.

M3M Foundation, a trailblazing non-profit organization committed to educational advancements under their initiative, “Saakshar,” is extending its transformative efforts to Noida. In a pivotal development, the foundation has inked a Memorandum of Understanding (MoU) with the Shikhar Dhawan Foundation to introduce smart classrooms in 10 government schools across Noida.

Under the “Saakshar” program, M3M Foundation has already made significant strides in the realm of digital education and technology-driven learning. Commencing with the establishment of smart classrooms in government schools in the Nuh district, the initiative is already impacting numerous students with a technologically enriched learning environment while keeping track of their progress and learning achievement as well.

This collaboration with the Shikhar Dhawan Foundation signifies a strategic alliance to broaden the reach of smart classrooms to government schools in Noida. The collective efforts of M3M Foundation and Shikhar Dhawan Foundation aspire to elevate the educational experience for more than 5000 students and 100 + teachers in the selected 10 schools. The initiative has the integrated iPrep PAL, which is an adaptive learning system tailoring paths for K-12 students, bridging learning gaps that foster academic excellence, creating personalized routes for each learner to thrive.

Shikhar Dhawan, the esteemed cricketer and founder of the Shikhar Dhawan Foundation, shared his enthusiasm, saying, “Education is a powerful tool for transformation. We are excited to pursue this noble endeavor, aspiring to create an environment where students can access cutting-edge educational technology and resources, paving the way for a brighter future.

Dr. Payal Kanodia, Chairperson of M3M Foundation, emphasized the foundation's unwavering commitment, stating, “Our dedication to fostering digital education remains steadfast. The collaboration with Shikhar Dhawan Foundation is a pivotal step, aiming to empower students with the tools and resources necessary for a modern and comprehensive education.”

The MOU was signed between Mr. Amitesh Shah and Dr. Kanika Dewan representing the Shikhar Dhawan Foundation and Dr. Aishwarya Mahajan, President M3M Foundation.

This joint venture is poised to make a significant impact on Noida's educational landscape, aligning with the broader goal of fostering a more digitally inclusive learning environment for students across diverse communities.

CREDAI, in collaboration with Liases Foras, launched an industry report at the New India Summit in Varanasi, which revealed that the housing demand in India is projected to reach 93 million houses by 2036. This is primarily owing to the increase in demand in housing basis growth in key parameters including population in both urban and rural areas, healthy macro-economic indicators and favorable demographics, with several Tier II, III cities projected to spearhead both demand and supply. With Government programs to establish Smart Cities, along with increasing commercialization activities in emerging areas, it is widely expected that the next wave of real estate growth will stem from Tier II, III regions.

Last year 2023, witnessed high volume of registrations and interest from homebuyers, also oversaw over 19,050 RERA registrations at Pan India level, according to the report – with 45% projects falling in the residential segment.

Photo: Pan India Market Summary: CREDAI – Liases Foras ReportQ3 FY 23-24

The report further throws light on the existing housing inventory, which at a pan India level, currently stands at 10,42,195 units, declining 3% on a QoQ basis but increasing by 2% on a YoY basis.Cities such as MMR and Ahmedabad witnessed a steep decline in the September 2023 ending quarter. Tier II cities, on the back of robust demand, also saw a drop in inventory and currently has a value of 20 months in inventory in QE September 2023.

Photo: Unsold/ Existing Inventory Pan India

From a pricing perspective, the report reveals that there has been a 6% CAGR in apartment prices (at Rs 11,660 per square feet), with NCR witnessing the highest growth at 22%.

The report also reveals the % change in sales (apartments and plots), and carpet prices across major emerging cities including Nagpur, Bhopal, Surat, Lucknow, Chandigarh, Coimbatore, Jaipur, Cochin, Visakhapatnam.

Boman Irani, President, CREDAI, said, “The rapidly growingIndian population and economy has resulted in accelerated demand and supply of homes, while also improving home buyers' purchasing power and inclining them to buy bigger houses. The country is set to develop manifold in the next 10-15 years and hence, through this report we look towards setting a new precedent with the emergence of Tier II, III regions and their contribution towards the sector and economy. Housing in such cities will witness a sharper trajectory as crucial Government Programs and increasing commercialcommercialization activities come to the fore to create a strong pipeline of projects across all segments.”

Manoj Gaur, Chairman, CREDAI “2023 was a remarkable year for all real estate stakeholders and we expect this demand trajectory to sustain, in 2024 and beyond. The report shares some key insights on the strong foundations of the industry and economy that are set to propel more investments, while also throwing light on how Tier II,III cities have fared amidst increased real estate activities. India is widely slated to become the third largest economy of the world by 2030, and since this vision seems to be turning into reality in a rather short span of time, we believe that real estate development, especially in emerging areas, will be a principal component of this positive change.”

Pankaj Kapoor, Founder and Managing Director, Liases Foras, “Indian Real Estate currently stands at an extremely important junction – with sustained demand and supply greatly contributing to the GDP while showcasing a definitive way forward for reaching the $5 Trillion Goal. Through this report, we have highlighted some of the most important industrial parameters that reflect the overall growth of Indian Real Estate, including sales, RERA registrations, carpet prices, among others. The report not only strengthens the belief in real estate as a robust industry but also validates investor and homebuyer sentiments as we enter 2024 and finish the financial year on a high.”