17th December 2024  New Delhi, Delhi, India  Birla Institute of Management Technology (BIMTECH), Noida, one of the leading B-school in India and the Shailesh J. Mehta School of Management (SJMSOM), IIT Bombay conducted two separate studies investigating the impact of suspension of future derivatives contracts on Exchange Traded Commodities (ETCDs). BIMTECH study titled – Impact of Commodity Derivatives Suspension on Underlying Commodity Market is based on empirical data from January 2016 to April 2024 for Mustard Seed, Soybean including Soy Oil, Mustard Oil and Palm oil. It conclusively reports that that suspension of ETCDs (Exchange Traded Commodities) leads to absence of reference price for physical market, and that in turn results in scattered and higher price variance across mandis. SJMSOM, IIT Bombay study titled – Impact of Suspension of Commodity Derivatives on the Agri Ecosystem combines primary and secondary research through survey and in-depth interview of physical market participants (including farmers and FPOs) in three states i.e. Maharashtra, Rajasthan, and Madhya Pradesh with focus on Mustard Seed, Soya Oil, Soybean, Chana and Wheat. The study underlines that derivatives contracts serve as an important tool of price discovery and price risk management for farmer/FPOs and other value chain participants in managing the price volatility and inherent risks in the agro economic space.

Two separate studies bust the prevalent market myth ‘Commodity Derivatives trading leads to inflation

In 2021, SEBI suspended derivatives trading in seven agricultural commodity/commodity groups, in what can be termed as largest ever clampdown on Indian commodity derivatives market since the modern electronic versions of commodity exchanges came into existence in 2003. Though a specific reason wasn’t attributed to suspension, however, it is widely believed that the decision was taken with the objective of taming the rising prices due to underlying belief that derivatives trading contributes to price rise. In this context, the two esteemed institutes of India undertook a comprehensive study , evaluating the impact of suspension of commodity derivatives on the commodity ecosystem.

The BIMTECH study, conducted by Dr Prabina Rajib, Dr. Ruchi Arora from BIMTECH & Dr Parama Barai from IIT, Kharagpur focused on three perspectives

• Impact of unavailability of price anchors for local mandis
• Impact on edible oil prices at wholesale and retail level
• Hedging efficiency in the international markets for the suspended commodities

Commenting on the study Prof Prabina Rajib said, “Periodic suspension of commodity derivative contracts has been a recurring theme in India that is not only hampering the growth of the derivative sector but also the growth of the overall commodity ecosystem. Though, world over commodity exchanges have continued to offer uninterrupted commodity derivatives contracts even in the face of supply-demand mismatch and variations in price. Hence, it was intriguing to deep-dive into the underlying prevalent belief system behind suspensions in India via empirical research and understand its impact on the foremost entity – our farmers and value chain participants. Our study articulates that the belief about derivatives futures trading leads to price inflation may be misplaced. Our analysis of retail and wholesale price determines that specifically for edible oils, not only have prices increased across categories during the post-suspension period, retail consumers are paying even higher prices.”

The IIT Bombay Shailesh J Mehta School of Management study conducted by Associate Professor (Economics) Sarthak Gaurav and Assistant Professor Piyush Pandey (Finance) focused on four specific objectives.

• To examine how price discovery and risk hedging were affected following the suspension of five ETCDs
• To examine the relationship between futures and spot prices, volume, and volatility and to present commodity-specific price variation associated with the suspension
• To understand if speculation in specific suspended commodities is actually even a matter of concern.
• To gain insights pertaining to futures trading for physical market participants including the farming community whose experiences in the context of futures trading remain understudied.

Speaking about their research Profs. Sarthak Gaurav commented, “Our research finds that there is no evidence of a positive relationship between Commodity Futures trading and spot market prices for five suspended commodities, suggesting that relationship between futures trading and food inflation for the commodities and time period of analysis is misplaced. In fact, the study based on statistical analysis of commodity futures and spot prices data and surveys in three states – Maharashtra, Madhya Pradesh, and Gujarat – firmly establishes that prices of both suspended and non-suspended commodities remained high after the suspension and that both domestic and international demand and supply factors influence retail prices of commodities.” He further states that, “Commodity derivative contracts play an important role in price discovery and risk hedging, which is apparent from the analysis. The suspension of futures commodities trading has negatively impacted better price realization because of the absence of reference pricing mechanism and thus also disrupted price risk management practices of participants in the commodity value chain. Consequently, the agri-ecosystem in whole has been affected due to hurdles in market access, participation and securing fair prices.”

Adding to viewpoint brought forth by the two studies, Mr. Sanjay Rawal, President of the Commodity Participants Association of India (CPAI) said, “Suspensions of commodities and derivatives trading not only negatively impacts the agri value chain, it breaks the inherent trust in the mechanism in the long term. Hence, it is pertinent to note that such decisions have long lasting consequences for our commodity market both physical & financial. Such actions should be evaluated in the light of potential fundamental price influencing factors like international markets, geo-political environment, weather anomalies, supply chain disruptions etc. on the domestic retail prices.” He further elaborated that, “Derivatives trading offers an anchor price for the futures market for price discovery and price risk management. Even Indian Economic Survey 2023-24 has emphasized the important role played by the agriculture derivatives market. I sincerely believe that the commodity futures market can effectively contribute to price discovery only when many consumers, producers, traders, and aggregators use these markets to hedge their risk.”

Dr. Rakesh Arrawatia, Professor, and Coordinator, Center of Excellence in Commodity Markets at the Institute of Rural Management Anand (IRMA) opined, “Commodity derivatives are market driven tools, that serve as shields during volatile times – safeguarding the interest of value chain participants and bringing sustainability to the commodity markets. Since these are relatively new tools, there is understandably a certain level of trepidation about them. However, the Government should utilize these tools to help the farmers manage their price risk even in the face of price volatility, encouraging them to actively participate, thereby boosting volumes and bolstering market confidence.”

17th December 2024  Srinagar | Lucknow, India  FIL Industries Private Limited, a diversified business enterprise recently participated in the 16th Edition of Confederation of Indian Industry “CII AgroTech India – Krishi Bharat’. This was held from 15-18th November 2024 at Vrindavan Grounds, Lucknow, Uttar Pradesh. Hon’ble Chief Minister of Uttar Pradesh Shri Yogi Adityanath inaugurated the event.

CII’s flagship initiative in agro technology, featured a large exhibition and knowledge sessions that attracted global participation, as well as significant involvement from the Indian agriculture and farming sectors including FIL Industries. This year’s theme was ‘Harvesting Innovation for Sustainable Agriculture’.

With a prime focus on accelerating the growth of agriculture and food processing through technological interventions, sustainable practices, knowledge sharing, and farmer engagement, it aimed to foster strategic partnerships and provide substantial opportunities to strengthen bilateral agri-trade relationships and drive new engagements in the sector.

A key highlight was the International Pavilion and Netherlands was the partner country at this edition. The pavilion showcased the expertise of overseas participants in agriculture, agri-technology, and food processing. It helped facilitate networking and business linkages with Indian counterparts and the farming community, exploring potential collaborations.

As an associate sponsor, FIL Industries projected itself as an end-to-end player in the agriculture value chain. Brochures and information on FIL’s Crop Protection, Crop Nutrition, Apple Cluster, Post Harvest Management, FMCG, and FILAVAL [rootstock nursery] businesses were disseminated. Visitors were also provided with samples of apple juice concentrate, fruit juices, cocoa powder, crop protection and crop nutrition products.

Mr Syed Junaid Altaf, Chairman, CII J&K and Group Executive Director, FIL Industries Private Limited participated in the inaugural session of the event and the CEO Roundtable on “Future of Farming” which also brought together several industry CEOs and policy makers to discuss the transformative potential of cutting-edge technologies like precision agriculture, AI, and IoT, alongside sustainable farming practices.

Speaking on the future of farming and sustainable agriculture in India at the CII AgroTech India – Krishi Bharat forum Mr. Syed Junaid Altaf, Chairman, CII J&K and Group Executive Director, FIL Industries Private Limited said, “CII Agro tech Krishi Bharat is a great platform for showcasing what the farming community and industry can do together. I think it is important for regions across the country to come and participate in events like this to understand and learn from each other. Coming from J&K, which is driven by horticulture, this is also a platform where we meet our peers, fellow industrialists and farmers and also learn about best practices that are adopted at the field level. All in all, it is a great exposure for us as a business, as it provides valuable insight into what a farmer needs in Uttar Pradesh in the horticulture sector.”

He further added, “From an industry engagement point of view is critical is the fact that agriculture is a long-term endeavour. Today we are at a cusp of a new revolution, a food revolution driven by climate change and vagaries that did not exist before. So, industry and academia have to come together to address this challenge. From a farmer’s perspective I have always believed that the farmer is the biggest risk taker so there is a lot of onus on us to work in tandem with farmers to reduce the risk for them. Ultimately our aim is to create a livelihood at the farm level and that livelihood in turn would create greater agricultural productivity.”

HUMBLE, TX, UNITED STATES,17th December 2024  – M&D, the leader in aftermarket diesel engine parts and remanufacturing, announces its acquisition of ProDiesel (https://dssprodiesel.com/), a fuel injector remanufacturer for Class 7 and 8 engines.

The partnership provides an outstanding opportunity for M&D and ProDiesel to better serve customers and fuel uptime. Together, M&D’s national reach will hit 48 locations, strengthening national customer service, and providing opportunities to better support international remanufacturing proficiencies across North America.

ProDiesel has served the medium- and heavy-duty industry with remanufactured fuel injectors for 65-plus years, building its reputation and name as one of the only aftermarket providers within the United States. They are well known and will continue expanding M&D’s remanufacturing presence in the space.

The acquisition includes the purchase of 2 branches, one in Nashville, TN, and one in Johnson City, TN, marking M&D’s fourth and fifth locations in the state. This addition continues to bolster M&D’s presence in the Southeast United States market. Further, it creates the industry’s foremost dominant player.

“ProDiesel’s commitment to its customer base aligns with M&D’s core mission of having a customer-first focus,” M&D CEO Grant Garrett said. “Their product lines will help our team expand into new fuel injection categories, and our manufacturing expertise will provide their team opportunities to improve efficiencies and quality.”

United States’ long-time Class 7 and 8 fuel injection providers

Owned and operated by Win Keith, DSS ProDiesel Partners, LLC has a long history of supporting the diesel parts aftermarket. Until now, their brand has been one of only a few national aftermarket providers for Class 7 and 8 fuel injectors.

Win Keith took over the business in January, 2002. Since then, he and his team have expanded the business through a focus on CAT, Cummins, and Detroit Diesel engines, selling both nationally and internationally. To fuel their next phase of growth, Keith began looking at opportunities to partner with strong names in the industry that could help in improving their quality and service to their long-time customers.

“M&D recognized our value to the market,” Keith said. “We look forward to continuing to improve our remanufacturing processes and product quality in order to support their branch network and the broader aftermarket.”

Expanding product offerings and coverage

M&D, combined with it’s consolidated acquisitions of ProDiesel, The Drexel Group, and Diesel Fuel Injection Reman Center (DFI), is positioned to bring industry-leading technologies and remanufacturing equipment and expertise to ProDiesel’s customers, providing the diesel aftermarket with a one-stop shop for their diesel engine fuel injection needs.

This strategic partnership expands product offering and availability to ProDiesel’s customers nationally, increasing accessibility and turnaround times of various other product categories, including cylinder heads, turbochargers, filtration, and more. This will provide ProDiesel the ability to increasingly serve a wider range of engines, including those in the industrial and high-horsepower space.

Profit-sharing provides distinguished partnership value

M&D is proud to share with ProDiesel a key pillar of its promise to be a “First-Choice Employer.” Employees will enroll in the organization’s profit-sharing program, an exclusive benefit that financially rewards employees for their professional contributions to the consolidated organization’s achievement and success.

By partnering with M&D, ProDiesel will have an enhanced ability to deliver an improved customer experience in the diesel engine aftermarket. M&D thanks ProDiesel’s customers and team members for their generous support.

17th December 2024  New Delhi, Delhi, India  Experience the remarkable journey of Dharampal Satyapal Group (DS Group), a multi-business corporation and a leading FMCG Conglomerate that has become a household name synonymous with trust, quality, and innovation in India, on Discovery Channel.

This captivating documentary chronicles the Group’s evolution from a humble shop established in 1929 by Dharampal Ji in the bustling streets of Chandni Chowk, to one of India’s most iconic and diversified conglomerates. Viewers witness Dharampal Ji’s unwavering resilience in the face of challenges, including a devastating fire, which laid the foundation for this extraordinary success story. Narrated by Mr. Rajiv Kumar, Vice Chairman of DS Group, it takes viewers on a nostalgic journey, sharing captivating anecdotes from the era of Dharampalji and Satyapalji, while offering a peek into the one-of-a-kind corporate museum, state of the art factory while unravelling the inspiring stories behind each iconic brand.

DS Group’s journey is an inspiring and successful business story that blends a remarkable history and legacy with visionary growth. It has an extensive and diverse portfolio with presence in Food and Beverage, Confectionery, Mouth Freshener, Hospitality, Agri, Luxury Retail businesses, and other investments. Catch, Pulse, Pass Pass, Silver Pearls, Ksheer, Rajnigandha, Ovino, Birthright, LuvIt, Chingles are some of the iconic brands, the Group proudly shelters today. These products showcase the group’s commitment to excellence, blending traditional values with modern innovation to meet the ever-evolving needs of consumers.

The documentary goes beyond business achievements, highlighting DS Group’s significant contributions towards a better tomorrow. Their unwavering focus on sustainability is reflected in initiatives like water conservation, sustainable farming practices, and education programs, underlining their deep commitment to social and environmental responsibility.

Under the visionary leadership of Satyapal Ji and the next generation, DS Group has successfully expanded its global footprint, balancing its rich heritage with a forward-looking approach. This inspiring story of perseverance, innovation, and unwavering commitment serves as a testament to how a small beginning can lead to extraordinary success, leaving a lasting impression across industries and communities worldwide.

As a corporate, DS Group is guided by a clear set of values that are built on a strong foundation of collective good to give back to society and protect the planet. The DS Headquarters has been awarded Leadership in Energy and Environmental Design (LEED) Platinum certification, under the USGBC (US Green Building Council) existing building O&M (Operation and Maintenance) program version 4.0. The DS Headquarters has also received LEED Zero Carbon Certification, by the USGBC.

17th December 2024  Mumbai, Maharashtra, India  Navigating the world of personal loans can be challenging, especially when deciding between secured and unsecured options. Understanding the differences between these two types of loans is crucial to making informed financial decisions.

Most banks and NBFCs in India offer secured and unsecured personal loans, catering to a wide range of customers with different financial requirements. Shriram Finance, one of the leading players in the NBFC landscape, offers competitive interest rates on its personal loan, ensuring customers can access funds when they need them the most without straining their finances.

What Are Personal Loans?
Personal loans are a type of credit that allows individuals to borrow a lump sum of money for various personal expenses, such as home renovations, medical bills, debt consolidation, etc. Borrowers agree to repay the loan in fixed monthly instalments over a set period, usually ranging from one to five years. The interest rate on personal loans typically depends on the financial institution’s policies, borrower’s credit score, income, and overall financial profile.

Secured vs. Unsecured Personal Loans
Based on the requirement of collateral, personal loans can either be secured or unsecured. Loans that are backed by collateral, like a loan against your credit card or an investment like a fixed deposit, are secured personal loans. Unsecured personal loans do not require borrowers to pledge any asset, like their house or any investment.

In the event of a default on a secured personal loan, the lender may take possession of the collateral to recover their loss. Because the risk to the lender is lower, secured loans often come with lower interest rates and higher borrowing limits.

Unsecured personal loans usually come with higher interest rates compared to secured personal loans and may also have limitations on the borrowing limit due to a high risk to the financial institution. These loans are faster to obtain and more flexible, making them a good option if you need quick access to funds and don’t want to risk losing assets.

Factors to Consider When Choosing a Personal Loan

When deciding between a secured and unsecured personal loan, borrowers should evaluate several factors:

• Interest Rates: Secured loans usually offer lower interest rates due to the collateral involved. Unsecured loans, on the other hand, might come with higher rates but provide flexibility without the need for assets.
• Loan Amount and Term: Secured loans often allow for larger loan amounts and longer repayment terms, while unsecured loans may be more limited in these features.
• Risk Tolerance: Borrowers should consider their comfort level with potentially losing collateral if they choose a secured loan and default on it in unforeseen circumstances. Those unwilling to take this risk may prefer the unsecured option.
• Credit Score and History: A strong credit score can improve the chances of securing favourable terms for either type of loan, particularly for unsecured loans.

Shriram Personal Loan – Key Features and Benefits

Shriram Finance provides unsecured personal loans at competitive interest rates and flexible repayment options. Here are some of the benefits of choosing Shriram Personal Loan for your funding requirements:

• Collateral-free Loans: You can apply for Shriram Personal Loan up to ₹10 lakh* without pledging your assets or investments.
• Competitive Interest Rates: Shriram Personal Loan starts at an interest rate as low as 11%* p.a., easing your EMI burdens.
• Flexible Repayment Tenure: You can choose a comfortable repayment tenure between 12 to 60 months* based on the loan amount.
• Quick Loan Approval: The personal loan application is approved quickly and seamlessly with minimal documentation.
• Fully Digital Experience: Applying for Shriram Personal Loan is as quick as it is easy. The NBFC’s website and mobile app is intuitive and customer friendly, ensuring you can apply for loans comfortabl

Conclusiony.

Personal loans can be one of the best ways to access emergency funds or planning your dream vacation, since they do not come with end-use restrictions. With Shriram Personal Loan, getting access to quick funds with minimal documentation is no longer a challenge. Visit the company’s website to learn more about its loan and investment products.

17th December 2024   Bihar, India  JK Cement, one of India’s leading manufacturers of Grey Cement and one of the leading White Cement manufacturers in the World, today marks a significant milestone in its expansion with the Bhoomi Pujan ceremony for its new Grey Cement Grinding Unit in Buxar, Bihar. This expansion is part of the company’s strategic initiative to strengthen its footprint in Eastern India and contribute to the region’s infrastructural and economic development.

The foundation stone was laid by Dr. Nidhipati Singhania, Vice Chairman, JK Cement Ltd, Mr. Madhavkrishna Singhania, Joint Managing Director and CEO, JK Cement Ltd and other senior officials. The event signifies the beginning of a new chapter for the company on its journey to serve the growing demands of the Bihar market with world-class cement products.

Commenting on the addition of the new Grinding Unit, Dr. Raghavpat Singhania, Managing Director, JK Cement, said, “The ceremony today marks a historic step for JK Cement in Bihar. We are excited to bring our high-quality products to this vibrant and fast-growing region. This Grinding Unit will not only strengthen our national presence but will also contribute to Bihar’s infrastructural development and economic growth. We are confident that our advanced manufacturing capabilities and commitment to quality will meet the needs of the local market.”

The new Grinding Unit, poised to become a pivotal player in the region, will address the rising demand for premium cement in Bihar as the market continues to expand. With this expansion, JK Cement Ltd. (JKCL) is set to strengthen its presence in Eastern India, marking a significant step toward balancing demand and supply at a national level. The proposed capacity of the Buxar unit is 3.00 MTPA, and will enable company plans to cross production capacity of 30 MTPA by next year. The investment for this project amounts to over ₹500 crore.

Commenting on the future plans, Mr. Madhavkrishna Singhania, Joint Managing Director and CEO, JK Cement Ltd., said, “We are proud to lay the foundation for this new Grinding Unit in Buxar, and this project is an important step in our growth strategy. Our presence in neighbouring Uttar Pradesh along with this new facility in Bihar, will significantly enhance our ability to meet market demand and support the region’s development.”

With Bihar undergoing rapid infrastructural advancements and the implementation of key megaprojects, JK Cement’s entry into the market is poised to play a vital role in supporting these developments. The company’s legacy of delivering superior quality cement, coupled with its commitment to innovation, will help drive progress in the region and contribute to India’s broader growth trajectory.

17th December 2024   Manipal, Karnataka, India   Manipal Academy of Higher Education (MAHE) has been honored with the esteemed “CII Industry Academia Partnership Award 2024” in the platinum category. The award was conferred at the Confederation of Indian Industry (CII) Annual Summit on Technology, Intellectual Property, and Industry-Academia Partnerships, held on 12th December 2024 at The Lalit, New Delhi.

The award honors MAHE’s outstanding contributions to innovation, advancing knowledge for long-term solutions to global issues, and creating significant relationships between academics and industry.

At the esteemed occasion, Dr. Raviraja N. S., MAHE’s Chief Operating Officer, MAHE, and Dr. Harish Kumar S., MAHE’s Director of Corporate Relations, accepted the award on behalf of MAHE.

Mr. Shrinidhi Kamath, Assistant Director, MAHE, Manipal, and Dr. S. Varadharajan, Coordinator of Intellectual Property Rights and the Technology Transfer Office, were also part of MAHE delegation.

Lt Gen (Dr) M. D. Venkatesh, VSM (Retd), Vice-Chancellor, MAHE, said, “This CII recognition further solidifies MAHE’s standing as a leader in creating significant industry-academia partnerships. At MAHE, we have always aimed to build an academic-industry bridge that encourages creativity and provides practical answers to urgent problems. This honor is a tribute to our partners, instructors, and students who have put in countless hours to realize this goal. We are still dedicated to fostering collaborations that strengthen sectors, increase knowledge, and enhance the welfare of society.”

The CII Industry Academia Partnership Award honors academic institutions that effectively cultivate close ties with businesses, fostering technological advancement and research commercialization. Initiatives including innovative intellectual property development, state-of-the-art research partnerships, and a strong technology transfer ecosystem are all part of MAHE’s efforts in this area.

This acknowledgement marks a critical turning point for MAHE and strengthens its position as a pioneer in fostering information sharing and cooperative growth.

17th December 2024   New Delhi, Delhi, India   Ball Corporation, the leading global provider of sustainable aluminum packaging for beverages, personal care, and home products, announced today its partnership with Dabur India Limited, one of the most iconic and longstanding consumer goods companies founded over 135 years ago, to expand their Real juice portfolio with the launch of the new Real Bites in fully recyclable aluminum cans in India. Real Bites juice offers a unique drinking experience with real fruit chunks in every sip.

The juice category in India recorded strong double-digit growth in 2023, owing to rising consumer affinity for healthy beverages, amid growing health concerns. The popularity of the category as a refreshment for social occasions aided growth. The juice category is forecasted to grow over 35 million liters in volume by 2028 with new flavors & innovative launches.

Real Bites in aluminum cans is available in delightful flavors like: Peach, Pineapple and Real Green Apple. The 185ml can was introduced as an entry point for this segment, offering a convenient size for on-the-go consumption. Along with the refreshing taste, the new aluminum cans provide a shelf life of up to one year, significantly longer than the four to nine months offered by other packaging formats. This ensures that consumers can enjoy the deliciousness of Real Bites for a longer period, while also making a sustainable choice, as aluminum cans are the most recycled beverage containers in the world.

Commenting on the launch, Mr. Mayank Kumar, Vice President Marketing, Dabur India Ltd. said, “At Real, our goal is to continually innovate and cater to the evolving preferences of our consumers. The introduction of Real Bites in aluminium cans not only broadens our product portfolio but also meets the demand for longer shelf life and more sustainable packaging. We are excited to offer our customers the same great taste in a format that is both convenient and fully recyclable.”

Aluminum has numerous advantages. As a truly circular material, aluminum can be recycled over and over again without losing its key intrinsic properties, minimizing waste and preserving its value. Additionally, using recycled aluminum saves 95% of the energy compared to using virgin aluminum. Utilizing recycled aluminium can optimize resource utilization from production to disposal, minimizing adverse environmental impacts.

Speaking about the packaging partnership between Ball and Dabur India, Manish Joshi, Commercial Director Asia at Ball said, “As consumers shift to healthy beverages and prefer on-the-go consumption, can as a packaging substrate is expected at grow at a CAGR of 12% from 2023 to 2028 in the juice-based category. Ball’s 2-piece aluminium beverage cans are fully recyclable and come in varied sizes to meet the customer requirements. Ball’s cans help our customers achieve their sustainability goals while offering a 360-degree branding opportunity and varied innovation in the print. With Dabur’s Real Bites, which contain small fruit chunks, the wide opening of the can provided a perfect solution for easy consumption.”

The partnership between Ball and Dabur comes at a time when sustainability is more important than ever to consumers, who expect brands to offer products in sustainable packaging. The growing recognition of aluminum beverage cans as a sustainable packaging option is expected to continue and expand, aligning with the Indian government’s target of achieving net-zero emissions by 2070.

17th December 2024  Ahmedabad, Gujarat, India  IEL Limited (formerly Indian Extractions Limited) (BSE: 524614, Symbol – INDXTRA), a renowned name in chemical, dye, pigment, and commodity trading, has announced its strategic diversification into the warehousing and storage sector. As a significant milestone in this journey, the company has acquired approximately 29,598.89 square meters of land in Village Neeva, Sarojini Nagar, District Lucknow, for RS. 11.80 crores.

Evolution and Diversification

Starting as a manufacturer and exporter of solvent extraction and groundnut oil, IEL Limited has evolved into a key player in export trading and chemical indenting. Catering to international markets like the U.S. and Europe, the company specializes in trading chemicals, dyes, pigments, intermediates, and commodities, while also providing marketing and support services.

Building on its established expertise, IEL is expanding into the development, operation, and management of modern storage facilities across India. This move represents a transformative step in the company’s growth, positioning it as a leader in the burgeoning warehousing and logistics sector.

Ambitious Warehousing Initiatives

IEL Limited’s new warehousing and storage ventures will feature state-of-the-art facilities, including:

• Warehouses
• Cold storage units
• Godowns

Equipped with advanced technology, these facilities will streamline logistics and distribution, addressing the increasing demand for reliable storage solutions across industries. By amending its Memorandum of Association, IEL has laid a foundation for its new business focus, which includes:

• Constructing and maintaining storage facilities for commodities and goods.
• Offering services such as clearing, forwarding, transportation, and distribution of stored items.
• Acting as packers, hauliers, and commission agents to support end-to-end logistics solutions.

Lucknow Land Acquisition

The recently acquired land in Lucknow will be used to establish cutting-edge storage facilities, marking the company’s first project in its warehousing and logistics diversification. This initiative underscores IEL’s commitment to contributing to India’s infrastructure growth and addressing the evolving needs of various industries.

Market Potential

India’s warehousing and logistics sector is projected to grow exponentially, reaching a market size of $215 billion by 2026. IEL Limited’s entry into this space positions it to seize emerging opportunities, playing a pivotal role in enhancing India’s supply chain infrastructure.

Leadership’s Vision

Commenting on this strategic initiative, IEL Limited’s leadership stated, “Our diversification into warehousing and storage aligns with our vision to evolve with market demands. The Lucknow project is the first of many steps we are taking to offer state-of-the-art storage solutions across India. This expansion not only strengthens our business portfolio but also reflects our commitment to contributing to the nation’s economic growth and infrastructure development.”

17th December 2024  New Delhi, Delhi, India  The Centre for Digital Economy Policy Research (C-DEP) which announced the Cheistha Kochhar Good Samaritan Award in memory of visionary behavioral scientist Cheistha Kochhar, announced that the first award since its inception was given to Mr. Suraj Prakash Vaid also known as ‘the man of the Golden Hour’.

For over 35 years, Mr. Vaid has been helping road accident victims in Delhi and has rushed many victims to different city hospitals when other bystanders merely stood and watched. Mr. Vaid not only saved lives but also completed legal processes like registering accident cases with the police, appearing in courts as an eyewitness and safeguarding victims’ valuables until their next of kin arrived.

Father of Late Cheistha Kochhar, Lt. Gen. Dr. S.P. Kochhar said, “There can’t be a better person than Mr. Vaid for the first Cheistha Kochhar Good Samaritan Award and his presence not only came as a savior for so many accident victims but also imparts inspiration of selfless service and showcases the impact of a good Samaritan in the society. It’s a true tribute to Cheistha’s life, who was always at the forefront of social initiatives and change.”

Mr. Suraj Prakash Vaid said, “I have been working alongside the police, hospitals and legal authorities for helping the accident victims for a very long time now. I feel proud to receive this prestigious award and know about Cheistha’s contributions to society. I would also urge others to come forward to take this path for creating a better society”.

The annual award honors exceptional societal contributions and includes financial support, resources, and a platform for sharing initiatives. The award aims to inspire more citizens towards service and social change.

Late Cheistha Kochhar was a young and dynamic student who was doing her Philosophy (PhD) at the prestigious London School of Economics and Political Science (LSE), who lost her life in London in a tragic accident on March 19th, 2024. However, the family of Cheistha Kochhar is still waiting for the police investigations to get completed in London. Unfortunately, the family has been informed that the investigation will go on till May 2025 even though the fatal accident took place on 19th March 2024.