Month: January 2024

Airtel Business to power 20 million smart meters for Adani Energy Solutions with its transformative smart IoT solutions


Airtel Business – the B2B arm of Bharti Airtel, one of India’s leading telecommunications service providers – today announced that it will power over 20 million smart meters for Adani Energy Solutions Limited (AESL).

Airtel, through its robust nationwide communications network will deliver reliable and secure connectivity for all AESL’s smart meter deployments. In addition, Airtel’s transformative smart metering solutions that are powered by NB-IoT, 4G and 2G, will help AESL to ensure real-time connectivity and uninterrupted transfer of critical data between smart meters and headend applications. The solution will also come powered with Airtel’s IoT platform – ‘Airtel IoT Hub,’ which enables smart meter tracking and monitoring with advanced analytics and diagnostic capabilities in addition to real-time insights and services that empower customers with enhanced control over their energy consumption. Adani Energy Solutions has an order book of over 20 million smart meters from the power utilities of Assam, Andhra Pradesh, Bihar, Maharashtra and Uttarakhand.

Ganesh Lakshminarayanan, CEO – Airtel Business (India), said, “India’s smart metering programme is one of the most significant policy reform measures undertaken by the Government. These meters are critical building blocks for smart grids and fundamental enablers for the digitalization of the power sector. Airtel expects its NB-IoT technology to play a significant role in the Utilities space to connect and manage smart meters at scale with enhanced coverage, high reliability and security. We look forward to a long and fruitful association with the Adani Group, supporting them in their endeavours to digitize utilities”.

Kandarp Patel, CEO – Adani Energy Solutions Ltd., said, “India’s ambitious Revamped Distribution Sector Scheme (RDSS) is transforming the way we deliver power, and AESL is proud to be at the forefront of this revolution. Our partnership with Airtel marks a critical step towards realising the vision of a smarter, more efficient grid for all. This strategic tie-up leverages the best of both worlds: our deep domain expertise in the T&D sector and Airtel's robust nationwide network and comprehensive suite of IoT offerings, including NB-IoT and 4G LTE. This powerful combination will enable us to seamlessly deploy our current order book of over 20 million smart meters across India, empowering millions of consumers with real-time consumption data and control, while simultaneously driving down inefficiencies in the distribution network”.

Anuprita Daga joins as Angel One’s Group Chief Information Security Officer -Anuprita Daga brings 25 years of extensive leadership experience in data privacy, security, and risk quantification

Anuprita Daga brings 25 years of extensive leadership experience in data privacy, security, and risk quantification

 

 

Angel One, India's leading fintech player announces the joining of Ms. Anuprita Daga as its Group CISO (Chief Information Security Officer). Angel One considers             information security as a backbone of its operations, leveraging technology and data-driven approaches, to deliver unparalleled solutions to its clients. The fintech’s unwavering commitment to technological excellence is exemplified by this strategic appointment of Group CISO, who will play a pivotal role in strengthening and advancing the security infrastructure across multiple businesses of Angel One. This appointment underscores Angel One's dedication to upholding the highest standards of data privacy and security in the ever-evolving landscape of financial technology.

Anuprita joins Angel One with an impeccable 25 years of domain expertise in spearheading security transformation, establishing and implementing security strategy, managing data privacy, and ensuring adoption and compliance of regulatory and global standards in the banking and finance industry. In her current role, Anuprita will enhance the information security, cyber security and data privacy framework at Angel One. She will focus on further developing, implementing, and enforcing robust security policies to safeguard customer sensitive information and sensitive information across the organization.

Mr. Dinesh Thakkar, Chairman and Managing Director, Angel One Limited, said, “This marks a significant milestone for Angel One as we proudly welcome Anuprita to our team, as the Group Chief Information Security Officer. Her extensive experience and proven track record in championing data security, align seamlessly with our commitment to setting new standards in the fintech space. With Anuprita at the helm of our security strategy, we reaffirm our dedication to fortify our commitment to ensure enhanced security measures to our clients.”

Ms. Anuprita Daga, Group CISO, Angel One Limited, said “I am thrilled to join Angel One, a pioneering force in the fintech space. As Group CISO, I look forward to leveraging my experience to fortify the organization's security posture. Angel One's commitment to technological excellence aligns seamlessly with my passion for driving robust security strategies. Together, we will navigate the dynamic landscape of data security, ensuring the highest standards of privacy for our clients and contributing to the continued success of Angel One in the fintech industry.”

As the former CISO of Yes Bank, Anuprita demonstrated exemplary competence in overseeing compliance within a complex and varied regulatory landscape. She was pivotal in driving security practices across Digital Banking Channels and products providing secured banking services. She has also ensured comprehensive security practices implementation across associated third- party outsourcing partners.

Anuprita has garnered esteemed recognition within the industry due to her outstanding accomplishments. She has been bestowed with The Global Top 100 Chief Information Security Officer by one of the UK forums. In addition to the international honour, she has earned the distinction of being recognized as a Top CSO 50 India and Top 10 Women Tech Leaders by various forums.


Furthermore, Anuprita actively contributes to the industry's development, serving as a respected member of the jury for CNBC, CISO MAG Awards, Women in Cyber Security (WiCSE) forum from USA and many other forums. Her commitment extends to participating as a judge and mentor for the start-up evaluation program initiative driven by Data Security Council of India (NASSCOM) and Karnataka State Council.



Voluntary Carbon Markets in India: New Partnership between the Voluntary Carbon Market Integrity Initiative (VCMI) and the Carbon Markets Association of India (CMAI)

The partnership aims to advance India’s participation in high integrity voluntary carbon markets.



The Voluntary Carbon Markets Integrity Initiative (VCMI) and The Carbon Markets Association of India (CMAI) are pleased to announce a new partnership aimed at boosting India’s participation in high-integrity international carbon markets.

The partnership between VCMI and CMAI is rooted in a shared vision and mutual commitment to drive positive environmental change and sustainable development in the region. The partnership will focus on the following objectives:

Empowering Indian stakeholders to participate in and benefit from high integrity international carbon markets. VCMI and CMAI will seek to address barriers to implementation, promoting an enabling environment for high-integrity VCMs that attract private investment aligned with national and sub-national climate and socioeconomic policy priorities.
Enabling high-integrity, fair carbon finance flows to India. The levels of climate finance today are a fraction of where they need to be to avoid the worst effects of climate change. Voluntary carbon markets are one of the most direct ways to get private sector finance moving faster to local communities where it is needed on the ground.

Leveraging CMAI and VCMI’s networks to facilitate the scaling up of high-integrity carbon finance activities across priority sectors in India. VCMI and CMAI recognise that it is only with integrity that we will build the trust and confidence needed to enable India’s carbon market to flourish.

Mark Kenber, Executive Director, VCMI comments “High-integrity carbon markets can mobilise private and public sector finance to where it is needed most. There is much more to do to unlock the enormous potential of these markets across India; through this exciting partnership we aim to support high integrity VCM growth across the country and so measurably accelerate climate action, innovation, and equitable development.”

Manish Dabkara, President, CMAI comments “We are thrilled for this transformative collaboration with the Voluntary Carbon Markets Integrity Initiative (VCMI). This partnership signifies a pivotal moment for India's carbon market, contributing to the creation of a resilient and trustworthy marketplace and the global climate action movement. By connecting local communities, policymakers, and buyers, we aim to enhance the integrity and resilience of India’s carbon market. Together with VCMI, we are eager to foster high-integrity voluntary carbon markets that align with India’s climate and socio-economic priorities, driving positive environmental change and equitable development. I welcome this alliance, anticipating its profound impact on accelerating climate action and innovation.”

Rohit Kumar, Secretary General, CMAI comments: “This collaboration represents a transformative union across the entire carbon market landscape, seamlessly connecting grassroots farmers in remote areas to influential Indian policymakers and discerning buyers. With a core focus on embedding integrity within India's burgeoning carbon market, this partnership signifies the creation of a resilient and trustworthy marketplace. It empowers our nation's dedicated journey towards achieving net-zero emissions. The CMAI is truly delighted about collaboration with VCMI, foreseeing impactful strides towards a sustainable future.”

CREDAI kicks off 25th year with focus on Social & Sustainable Development


– Announces collaboration with World Trade Centers Association and Energy Efficiency Services Ltdto facilitate commercial and sustainable growth in Tier 2 & 3 cities

The Confederation of Real Estate Developers’ Associations of India, (CREDAI), organized its 5th Edition of the New India Summit, led by the CREDAI MSME Committee. The summit served as a pivotal platform to discuss, deliberate, and highlight the issues connected with these regions, forming definitive conclusions, and preparing a roadmap to address the challenges. The summit also marked the beginning of the developer’s body 25th anniversary in 2024. While committing to align themselves to promote small and medium scale developers, the association also announced a slew of socio-economic initiatives at the summit held at the city of temples, Varanasi.

Shri Ravindra Jaiswal, Hon’ble Minister of State (Independent Charge) for Stamp and Court Fee, Registration, honored the event as the chief guest. Additionally, the summit was distinguished by the presence of Shri Ashok Tiwari, Mayor of Varanasi, Mr. Nitin Gokarn, IAS, Additional Chief Secretary of Housing & Urban Development, Govt. of UP, and Shri Pulkit Garg, IAS, Vice Chairman of Varanasi Development Authority.

At the summit, CREDAI signed a Memorandum of Understanding(MoU) with World Trade Centers Association (WTCA)in a step towards promoting tradeand ensuring world class commercial properties are developed in India focusing on Tier 2and Tier 3 cities. CREDAI also signed an MoU with Energy Efficiency Services Limited (EESL)to pursue and promote energy efficiency in line with the Hon’ble PM’s vision. These collaborations will help economic growth in Tier 2 and Tier 3 cities, while also supporting faster and further energy efficiency improvement in India through experience and knowledge sharing.

Additionally, to foster social and economic development across the nation, CREDAI has announced 5 strategic scalable initiatives that will build on some of CREDAI’s previously held milestones as it yearns to leave a long lasting & enduring impact on not just Indian Real Estate but also to the Indian society. To empower the construction workforce, the association in partnership with the National Skill Development Corporation (NSDC) and the Government of India, aims to upskill 5 lakh construction workers in the next two years. To promote holistic growth at the grassroot level CREDAI will undertake renovation projects in 1,000 government schools. These projects will focus on upgrading toilets, drinking water facilities, and creating smart classrooms to provide students with a more conducive learning environment.

To encourage sustainability, CREDAI has committed to certify 1 lac homes and 25 million sq ft of commercial real estate with green building certifications. Along with this initiative, the developers’ body also pledge to plant 1 million saplings across the country and will undertake the responsibility of maintaining these trees for a period of 2 years.

“Hosting the New India Summit fills us with great pride, as it not just promotes the vibrant city of Varanasi and other emerging Tier II, III regions that are expected to spearhead economic growth in India but also marks a tremendous milestone for everyone at CREDAI. As we celebrate 25 years as the apex industry body in the country, we have strategized a 5-point plan that will strengthen CREDAI’s legacy characterized by holistic, socio-economic growth which harbors a thriving society and empowers them. In the pursuit for measurable change socially as well as economically, encouraging initiatives like green construction and workforce upskilling remains our target to best utilize the resources of this country as well as make it a more a sustainable world for the future generations.” said Boman Irani, President, CREDAI

“Real estate has been one of the greatest amplifiers of the Indian economy, and the New India Summit acts as the proof of the same. This year as we celebrate our 25th anniversary, we also celebrate the growth that our industry has been an active part of in India’s growth journey. Through the summit, we wish to lay the foundations for a greener, more futuristic India that is socially responsible and pledges to give more than they take. As we also embark on a similar journey, we believe that we can create bigger waves through these small steps towards growth” said Manoj Gaur, Chairman, CREDAI

CREDAI’s 25th anniversary initiatives exemplify their commitment to social development, environmental sustainability, and industry growth. Through these ambitious projects, CREDAI aims to make a lasting impact on India's real estate landscape and contribute to the nation's overall progress.

***

BLS International Upholds High Standards of Compliance and Responsiveness in Estonia E-Residency Program Amidst Operational Shift




BLS International Services Limited, a globally recognized leader in providing administrative and consular services, has played a pivotal role in the successful implementation of Estonia's e-residency digital identity card program since April 2021. As per the figures shared by Kaarel Kallas spokesperson of Police and Border Guard, Estonia “Over the course of two years, approximately 1,300 e-resident digital identity cards have been issued through BLS”.Throughout this partnership, BLS International has effectively facilitated the issuance of e-resident digital identity cards in five major cities worldwide, significantly enhancing the global reach of Estonian digital services.


The Estonian Police and Border Guard Board (PPA) has consistently monitored and verified BLS International's adherence to the stringent process requirements of their contract, showcasing the high standards maintained in the issuance of these essential identity documents. PPA e-residency expert Anita Sokolova explained that the digital identity card issued to e-residents is an identity document, and in order for us to be able to ensure its reliability, it is our responsibility to ensure that the entire process of issuing the document is also reliable.

A recent procedural oversight at both the Bangkok and Tokyo issuance points, where documents were issued by unauthorized individuals, was swiftly and comprehensively addressed by BLS International. This response included thorough internal reviews and corrective measures, ensuring that such incidents are prevented in the future. It's important to note that, despite these oversights, the checks conducted confirmed that the documents were issued to the correct individuals, thereby maintaining the integrity of the e-residency program. As per the statement issued by Police and Boarder Guard, Estonia, “BLS has in turn initiated disciplinary proceedings against the employees involved in the violation”.
 
Following this incident, the PPA has decided to centralize the issuance of e-resident digital identity cards to Estonian foreign missions, cancelling the contract with BLS International. This decision reflects a strategic shift in the program's operational approach. “At the moment, we are not planning to look for a new contract partner from the private sector,” clarified Sokolova. BLS International has been dedicated to supporting the Estonian authorities in ensuring a seamless transition for e-residents.
 
The PPA has confirmed the validity of all previously issued documents, underscoring the effectiveness and reliability of the systems put in place by BLS International.  As per PPA spokesperson, “PPA has checked that the documents have been issued to the right people, so the documents issued so far are still valid.”  This affirmation highlights the success of the partnership in achieving its objectives despite the challenges.

As the Estonian government shifts its focus away from private sector partnerships for document issuance, BLS International continues to uphold the highest service standards. They remain committed to excellence and constant improvement in all operational areas.

Škoda Auto India registerssalesof over 1,00,000 cars across two years



Successful growth strategy with locally developed and produced Kushaq and Slavia helps to cross this key milestone

 

·   Company reaches the landmark in the shortest time in its India operations

·   Follows on the heels of 2022 being the Biggest Year for the company

·   Continued demand for Kushaq and Slavia drives strong sales

·   Kodiaq records an all-time high annual sales volume

·   Expanded to 260 customer touchpoints across the country at the end of 2023

·   India maintains position as a key market for the company outside Europe

·   Has a fleet full of crash-tested cars rated 5-stars for adults and children

 

Noida / New Delhi,January 4, 2024 –Škoda Auto India has maintained its sales momentum and reached an important milestone of selling over 1,00,000 cars over the last two years. This is a strong testament to its India-centric product strategy, which saw the launch of two world-class products, tailor-made for the Indian market – Kushaq and Slavia. Both these models have been instrumental in the achievement of these volumes, which previously took the company more than six years to reach.

 

The year 2022 was a record-breaking one for Škoda Auto India, following the two big launches of Kushaq and Slavia. In 2023, the momentum was slightly hampered by supply issues and related constraints. While working towards a full recovery, Škoda achieved sales of 48,755unitsin the period from January 1 to December 31, 2023.

 

Speaking on the sales performance, Petr Janeba, Brand Director, Škoda Auto India, said, “It was extremely important for us to maintain our momentum through 2023 after the record-high of 2022.Our efforts in 2023 focussed on consolidating our position by continuous enhancements across our product range, widening our network and improving the quality in sales and after-sales for more satisfied customers, connected through our Human Touch philosophy to cater to all our customer’s needs. Despite the supply challenges in the first half of the year, we have ensured that we ended the last quarter of 2023 on a positive note. For 2024, we have a mix of exciting product actions on the existing range, new product announcements, furthering ourgrowth through exports and expanding our network. And we will continue with our laser-sharp focus on customer delight, as we welcome new customers into the Škoda family.”

 

Sales

Škoda Auto India registered sales of 48,755 in the year.This follows the record year of 2022 where the company registered sales of 53,721 cars. While the record was set on the fresh launches of the Kushaq and Slavia across Q3 2021 and Q1 2022, the year 2023 has seen the company further strengthen their products with the Kodiaqalso registering a jump of 100% over 2022, and recording an all-time high annual sales volume. India continues to be a key market for Škoda Auto, and one of the largest markets outside Europe.

 

Network and customers

From 120 customer touchpoints in the beginning of 2021, Škoda Auto India has grown closer to its customers with 260 touchpoints at the end of 2023. A large number of the existing dealer partners have expanded their footprint with the brand, and share the company’s vison of providing an unmatched sales and service experience to customers across the country.  

 

Safety

The year 2023 has further established Škoda Auto India on the safety front. October 2022 saw the Kushaq become the first product to be crash-tested under Global NCAP’s newer, stricter test protocols and earn a full 5-stars for adult and child safety. The trend continued in 2023, with the Slavia achieving the same feat in April. With the Kodiaq already having earned 5-stars in Euro NCAP, Škoda Auto India now has a complete fleet of safety-tested cars scoring a full 5-stars for adult and child occupants.

 

The year ahead

Škoda Auto India has already been exporting India-made cars to the GCC and other right hand drive markets. For 2024, products, parts and components from the company’s Pune plant will play a vital role in the entry of Škoda Autoto Vietnam. The company has a slew of product actions and new product announcements on the anvil. 

Vi and Team Vitality Forge a Strategic esportsPartnershipin India


·         With this alliance, the two organizations aim to drive, democratize access to esports ecosystem in the country

 

According to the State of India Gaming Report 2022, the Indian esports industry is expected to grow to $140 million by 2027. Over the last few years, esports as a category gained recognition as a mainstream sport especiallyafter beingdebuted as an official medal sports at various international sports platforms. To capitalise on this growing consumer category,Vodafone Idea (Vi), one of India’sleading telecom operators and Paris based Team Vitality, internationally acclaimed esports organisation, have announced a long-termunionto boost the esports ecosystem in India.

 

Withthis first of its kind collaboration, the two brands jointly aimto create opportunities and exposures to esportsfans and gaming enthusiasts alike. The partnership encompasses many aspects such as brand sponsorship, content partnerships, gaming events and uniqueexperiences ata never-seen-before scale.This will enable Vi customersto participate in esportsand allow exclusive access to some of the popular Team Vitality tournaments and teams. This partnershipwillcreate opportunities for budding esports talent from across the country to have access to professional players, master classes, meet & greets with esports talent and many other opportunities.

 

Vi is known for its strong presence in the mobile games segment, offering a wide range of hyper casual mobile games to users via Vi Games onVi App.Through this association with Team Vitality, Vi now aims to deepen its focus on esports in India. Vi Games in recent pastforayed into the esports segment by hosting popular free-to-playtournamentsacross gameslike Call of Duty: Mobile, Free Fire Max, Asphalt 9, Clash Royale, etc.

 

Commenting on the association, Avneesh Khosla, CMO, Visaid“Gaming has always been our strategic focus area and we have continuously strived to strengthenour gaming portfolio with right partnerships and relevant offerings. Over the last few years,esportshas revolutionized the mobile gaming arena especially with younger audiences, and hence,deepening our focus inthis space was a natural progression for Vi Games. We are excited to partner with one of the leading esports organizations of the world – Team Vitality. Together, we aim to drive and democratize access to theesports ecosystem in India. In the coming months, we will introduce some exciting esports and other youth centric content for our consumers toexperience.”

 

Speaking on the occasionRandall Fernandez, Managing Director, Team Vitality India said,“We are exhilaratedto announceour partnership with Vi. We are at a juncture wheretechnologywillcatapultgamingto the next level and eagerlylook forwardto our journey together. We will unlock new horizons searching foraspiring gaming talent across the length and breadth of the country, set new precedents and create indelible markswithin the esportsindustry.”

 

Locally, Team Vitality’s all Indian Call of Duty: Mobile (CODM) team were among the top 16 teams globally who qualified and competed in the CODM World Championship 2023 that was held in Atlanta, US betweenDecember 15thand 17th. The organisation previously roped in popular gaming content creators Nischay ‘Live Insaan’ Malhan, Rachit ‘Rachitroo’ Yadav, Nitin ‘Classified YT’ Chougale, Shagufta ‘Xyaa’ Iqbal and Pratik ‘Aurum’ Mehra who have a cumulative YouTube base of 20 million subscribers.

 

To capitalise on this upward growing industry and to build a deeper connect with consumers, Vi and Team Vitality plan to launch various gaming contests and events.

 

 

MoU inked between QCI & KVIC to enhance quality of Khadi products, empower Khadi Artisans, and introduce ‘Made in India’ Label for Khadi

The Quality Council of India (QCI) and the Khadi Village & Industries Commission (KVIC) embarked on a groundbreaking collaboration to enhance the quality of Khadi products, empower the artisans, and introduce ‘Made in India’ label for Khadi, realizing the vision of Hon’ble Prime Minister Shri Narendra Modi for promoting Khadi as a symbol of self-reliance and sustainable development. The MoU was signed at Kochrab Ashram, Ahmedabad, symbolizing the significance of Khadi and Mahatma Gandhi, who popularized it as a symbol of India’s struggle for independence and a means of empowering rural India. The exchange of MoU took place in the distinguished presence of Shri Jaxay Shah, Chairperson, QCI and Shri Manoj Kumar, Chairperson, KVIC. The collaboration between QCI and KVIC, aimed at paving the path for a Viksit Bharat, is focussed to enhance the overall quality ecosystem, ensuring that Khadi not only retains its timeless appeal but also becomes a global symbol of quality and sustainability.

QCI will extend its support to KVIC by enhancing the quality of Khadi and Khadi & Village Industries products through various interventions including third party assessment frameworks, empowering the artisans through various interventions including capacity building to improve their productivity and earning potential and promote Khadi products, both domestically and internationally. In addition to this, this collaboration will also introduce the ‘Made in India’ label for Khadi, which will bring significant boost to the Khadi industry as a whole in terms of increased production and sale of Khadi products as a symbol of quality across the globe. Furthermore, it will also bring about a number of benefits for Khadi artisans, including increased income; more productivity and efficiency by equipping them with enhanced skills and knowledge; new employment opportunities and certainly, a greater recognition.

On this momentous occasion, Shri Jaxay Shah, Chairperson, QCI, stated that “It is a moment of immense pride to partner with KVIC to enhance the quality of Khadi and KVIC products and empower the artisans involved because Khadi is not just an industry but a symbol of India’s culture and heritage. In the words of Gandhi Ji, Khadi isn’t a piece of cloth but an ideology of self-reliant India. Khadi also represents India's cultural identity, craftsmanship, and sustainability, however, today, it stands at the crossroads of tradition and modernity. When today, we are working towards achieving the goal of Viksit Bharat, this collaboration will certainly contribute to retain the essence of Khadi while forging a path for larger global recognition.”

During the event, Shri Manoj Kumar, Chairperson, KVIC , said, “Khadi is India’s handwoven symbol of self-reliance as well as sustainability. The industry has witnessed quite a phenomenal growth in production in the past few years with an astonishing growth of 268% from the year 2013-14 to 2022-23. While the sales surged by a staggering 332% growth in the same period. This robust growth translated into 9.54 lakh jobs in FY23 alone. Now, with this collaboration with QCI, we are confident that Khadi industry and artisans associated with it will witness more recognition and more inclination of consumers towards Khadi.”

NSL Group Chairman Mandava Prabhakar Rao Conferred with Honorary Doctorate


In a momentous event during the 25th Convocation of Chandrasekhar Azad University of Agriculture & Technology in Kanpur, Mr. Mandava Prabhakar Rao, Chairman of NSL Group, was honored with an esteemed honorary doctorate. The accolade was bestowed upon him in recognition of his exceptional leadership, unwavering dedication, and significant contributions to the agriculture industry.

The honourary doctorate was presented by the Hon’ble Chancellor & Governor of Uttar Pradesh, Smt. Anandiben Patel, affirming Mr. Prabhakar Rao's remarkable achievements. Hailing from a distinguished agricultural family in Guntur District, Andhra Pradesh, he garnered academic excellence at the School of Agricultural Science, Benares Hindu University, achieving top ranks in both B.Sc (Agriculture) and M.Sc (Agriculture).

Assuming leadership of Nuziveedu Seeds (NSL) Limited in 1982, a company founded by his father in 1973, Mr. Prabhakar Rao has since nurtured and expanded the NSL Group, transforming it into a diversified conglomerate spanning Seeds, Textiles, Sugars, Infrastructure, and Renewable power.

Beyond his corporate endeavors, Mr. Prabhakar Rao actively engages in various industry bodies, holding key positions such as founder member and president of the National Seed Association of India (NSAI) and president of the Indian Sugar & Bio-energy Manufacturers Association (ISMA). His contributions extend to serving on government bodies, including the Protection of Plant Varieties and Farmers Rights Authority (PPVFR Authority) and the Cotton Advisory Board.

Accolades and awards have consistently marked Mr. Prabhakar Rao's journey, including the Best In-house R&D National Award in 2002, Bio-Agri Company of the Year awards from 2008 to 2015, and the prestigious Lifetime Achievement Award by ABSA in 2023.

In addition to his corporate achievements, Mr. Prabhakar Rao is a fervent advocate of Corporate Social Responsibility (CSR). He founded the Mandava Foundation, a charitable trust contributing significantly to the development of rural India through initiatives in education, healthcare, and agricultural productivity. This honorary doctorate stands as a testament to Mr. Prabhakar Rao's profound impact on the agriculture sector and his unwavering commitment to societal development.

FPT Hits One Billion USD Revenue in Global IT Services for the First Time

Business Wire India

Global technology corporation FPT has surpassed one billion USD in the global IT services segment, generated by its subsidiary FPT Software. This marks FPT as the first Vietnam-headquartered tech firm to reach this milestone, underscoring its sustainable growth, steadfast commitment to innovation, and dedication to client satisfaction.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231221481561/en/

In 2023, the IT firm made monumental strides in expanding its global presence and alliances to deliver successful digital transformation to customers, evident from its elevated strategic partnerships with several industry leaders, including SAP, Microsoft, AWS, Salesforce, and Adobe. As part of FPT's global expansion strategy, it has also inked several investment and acquisition deals with Landing AI, Intertec International, Cardinal Peak, and AOSIS to enhance its competencies and provide closer support to clients in overseas markets. These efforts allow FPT to double its revenue from global IT services in three years, with the largest contribution from its major markets – Japan, the Americas, and Asia Pacific, accounting for roughly 30 percent each.

 

FPT has established itself as a trusted partner for businesses across several sectors, with digital transformation playing a large role in its end-to-end services and solutions portfolio, accounting for nearly 50% of total global revenue. The corporation has extensive expertise in several domains, including ERP modernization, cloud and data, and software-defined vehicles. The recent launch of FPT Automotive further solidifies its strategic investment and builds on its decade-long experience in automotive product engineering services and solutions.

 

These achievements are supported by FPT’s human-centric approach to doing business, with its strong commitment to sustainable practices, workplace diversity, and workforce development. It earned EcoVadis Silver rating for its ESG initiatives and was recognized as the ‘Great Place to Work’ in various countries, including Vietnam, Japan, Singapore, the US, and more.

 

As a world-class technology enabler for complex business challenges and opportunities, FPT anticipates immense global market potential and opportunities to reach more billion-dollar milestones in revenue and profit from a single market, a single vertical industry, and a single contract. Following this direction, the IT firm will continue delivering comprehensive services and solutions, all embedded with artificial intelligence (AI). Its global workforce will be further strengthened with seasoned experts and a robust pipeline of young, skilled IT talents from its home country, Vietnam, and other locations like India, China, the Philippines, and Latin America. At the same time, it will be at the forefront of promoting the momentum of Vietnam as the world's emerging digital hub to help its clients reinvent business excellence and resilience.

 

“FPT Corporation’s ambition is to showcase Vietnamese intelligence and technology to the global stage, and our subsidiary FPT Software was founded to realize that vision. As the world turns its attention to Vietnam as a prominent hub for business investment and digital innovation, we have proven our pivotal role in driving this movement. In the journey ahead, we will persist as a trusted partner, empowering global enterprises towards a more sustainable and happier future,” said FPT Corporation Founder and Chairman Dr. Truong Gia Binh.

 

“People development is the foundation for our sustainable growth. This achievement is a testament to the collective efforts and wisdom accumulated across generations of FPT Software's people. We will continue focusing on talent development and equip our people with a happy working environment and the necessary knowledge and skills to keep up with growing market demand and global standards,” said FPT Software Chairwoman Chu Thi Thanh Ha.

 

“With AI as an accelerator embedded in all services and solutions, we are committed to enabling agility and scalability and optimizing quality and productivity for all projects. Looking forward, we have plans for new partnerships and M&As with leading companies worldwide to enhance our nearshore network expansion, delivery quality, core competencies, and operational excellence to provide end-to-end solutions and better serve our global clients,” said FPT Software CEO Pham Minh Tuan.

 

As a leader in Vietnam’s nationwide movement of digital transformation, FPT has also set its sights on AI and semiconductor as strategic focuses, with a series of initiatives, including becoming the founding member of the AI Alliance led by IBM and Meta, advancing its strategic partnership with Mila, launching Semiconductor Circuit Faculty and working on collaboration opportunities with world’s leading names in semiconductor like Nvidia. It has obtained orders for nearly 70 million chips, scheduled for delivery by 2025.