Sustainiam to Manage End-to-End I-REC Process for Brookfield’s Renewable Assets

24th September 2024 — Sustainiam, a climate tech startup, India’s fastest-growing carbon management solutions, has successfully onboarded a massive portfolio of 400 MW renewable assets from Brookfield, a global renewable energy powerhouse, for the registration, issuance, and trading of International Renewable Energy Certificates (I-REC). This portfolio primarily consists of wind assets, underscoring Brookfield’s commitment to expanding its renewable energy capabilities in India and beyond.

Wind Energy

The 400 MW portfolio, now being processed for I-REC registration through Sustainiam’s issuance and trading platform , will enable Brookfield to tap into the growing demand for renewable energy certificates, ensuring their assets generate verified and tradable I-RECs. This is a crucial step for Brookfield as it expands its operations in India, where it currently oversees more than 25 GW of wind and solar assets, with ambitious plans to scale its renewable energy footprint further.

Sapna Nijhawan, Founder & CEO of Sustainiam, commented on the partnership saying “We are thrilled to collaborate with Brookfield on this significant project. As one of the leading global players in renewable energy, Brookfield’s commitment to sustainability aligns perfectly with Sustainiam’s mission to accelerate decarbonization through cutting-edge technology. The onboarding of this portfolio is a testament to our platform’s capability in streamlining the complex process of I-REC registration and trading, ensuring Brookfield’s renewable energy assets are fully optimized for carbon markets.” With Sustainiam’s platform, Brookfield gains access to real-time tracking and trading of I-RECs, further solidifying their leadership in the renewable energy sector.

Brookfield, known for its focus on renewable assets globally, recently acquired a controlling stake in Leap Green Energy, a prominent player in India’s renewable energy market. The partnership between Brookfield and Sustainiam aims to streamline the carbon credit certification process, making it easier for Brookfield to achieve its decarbonization goals while contributing to global renewable energy transitions.

Sustainiam has already built partnerships with major brands, including Sheraton Hotels & Resorts, ITC Responsible Luxury, WelcomHotel, Cargill, Radisson and Coca-Cola, offering them real-time insights and streamlined solutions for managing and trading renewable energy certificates. The addition of Brookfield to its client portfolio further strengthens Sustainiam’s leadership in the carbon management space.

Puravankara announces ‘Purva NRI Home Fest’ in Dubai – A premier event for NRIs seeking luxury homes in India

Mumbai – Puravankara Limited, one of India’s leading real estate companies, has announced the ‘Purva NRI Home Fest,’ a special event designed to showcase its projects to Non-Resident Indians (NRIs) in Dubai. The two-day event will take place at the Shangri-La Dubai, from 10:00 AM to 8:00 PM on Saturday, 28th September, and Sunday, 29th September 2024.

The Purva NRI Home Fest presents an opportunity for NRIs to explore over 4,000 homes across 20+ prestigious projects in five major Indian cities—Bengaluru, Chennai, Kochi, Mumbai, and Pune. This event will showcase an array of luxury apartments, world-class villas, and villa plots, providing potential buyers with diverse property options to suit their investment needs.

Purva’s NRI Home Fest will showcase a comprehensive range of property options. Prospective buyers will have the opportunity to explore a diverse portfolio that includes 1-5 BHK apartments, penthouses, villas and villa plots, with sizes ranging from approximately 600 sq. ft. to 5,000 sq. ft.

Abhishek Kapoor, Group CEO of Puravankara Limited, said, “Post Covid, there is a definite interest among NRIs in purchasing a property back home that they can return to. This is evident in the numbers as money flowing into NRIs’ deposits rose by 84.4 per cent from $6.40 billion to $11.8 billion between April 2023 and February 2024. The Purva NRI Home Fest is a chance for them to experience our ‘YOU’ Philosophy, which puts the customer at the heart of everything we do. We will ensure that every NRI home buyer feels confident and supported in their journey towards owning a home in India.”

From premium luxury apartments like Purva Windermere (Chennai), Purva Clermont (Mumbai) and Purva Park Hill (Bengaluru) to the innovative Worldhome Collection projects such as Purva Somerset House (Chennai) and Purva Orient Grand (Bengaluru), there is something to match every taste and preference. For those seeking the ultimate in luxury, the Presidential Villas at the Purva Sound of Water in Bengaluru provide an unmatched living experience. Additionally, villa plots in projects such as Vanam, Raagam, and Soukhyam under the Purva Land brand offer ideal opportunities for buyers looking to build custom homes.

To ensure a smooth transition from purchase to occupancy, Puravankara offers comprehensive post-sales support. This includes assistance with loan facilitation, ensuring buyers can access financing options easily. Through Purva Streaks, buyers can also avail of customised interior design services, allowing them to tailor their new homes to their specifications. Additionally, the company provides CRM support to manage agreements and documentation. This holistic support system reaffirms Puravankara’s commitment to delivering a stress-free experience for NRIs investing in India.

Puravankara has also curated exclusive offers for this event to enhance the purchasing experience. Buyers who book during the event can take advantage of vouchers by Purva Streaks, the interior design arm of the company, ranging between Rs 1 lakh to Rs 10 lakhs.

With over 4,000 homes on display and exclusive benefits, the Purva NRI Home Fest is a must-attend event for NRIs looking to invest in India’s finest real estate offerings.

Bayu Buana Travel Services reinvest in customer service and innovation with a renewed partnership with Amadeus

24th September 2024 – One of the leading travel agencies in Indonesia is doubling down on its commitment to technology, innovation, and customer service by expanding its partnership with Amadeus.

With access to the Amadeus Travel Platform, Bayu Buana will be able to give its customers a huge array of travel options including NDC content from airlines, as well as offers from hotels, cruise ships, transfer companies and in-destination content from around the world to ensure a fully personalized trip and a great deal every time.

Moreover, with Amadeus’ leading technology solutions, including advanced APIs, incredible travel search capabilities, AI powered solutions, and next-generation payment technology, Bayu Buana travel agents will be able to work more efficiently to focus on providing the best customer service to its customers.

Founded in 1972, Bayu Buana was the first travel agency listed on the Jakarta Stock Exchange. It has 500 employees spread across 22 branches throughout the country and is one of the most established and ambitious travel agencies in Indonesia.

Agustinus Pake Seko, President Director, Bayu Buana Travel Services says, “Indonesians have trusted us for more than five decades because Bayu Buana is committed to customer service and providing the best experience for travelers every time they come to us. We are proud of this longstanding legacy. With this new partnership with Amadeus, we are protecting our hard-won reputation by ensuring that we can give travelers even more options, and even better customer service well into the future.

With this partnership, Bayu Buana is committed to protecting its longstanding reputation as one of the best agencies in the country by having unrivaled travel technology at its fingertips to service its customers.

Javier Laforgue, Executive Vice President, Travel Unit & Managing Director, Asia Pacific says, “Much like Bayu Buana, Amadeus knows that excellent customer service requires a constant commitment to innovation and collaboration. We are proud to be chosen as a trusted partner by a company as well established as Bayu Buana. At Amadeus, we continue to invest in some of the best travel technology on the market to make travel easier, more personalized and enjoyable than ever before.”

NAREDCO Maharashtra Prepares for India’s Biggest Real Estate Expo, ‘Homethon 2024’

September 24, 2024, MUMBAI: The National Real Estate Development Council (NAREDCOMaharashtra is all set to present the third edition of the HOMETHON Property Expo 2024, India’s largest real estate property expo at the JIO World Convention Centre, BKC, Mumbai from October 4 to 6, 2024. The previous year’s phenomenal success attracted 55000 visitors, generating INR 1050 crore committed sales. This year’s event is expected to surpass last year’s figures with an even greater participation across all stakeholders.

 Bollywood’s popular and versatile star-couple, Riteish and Genelia Deshmukh are the brand ambassadors for the upcoming third edition of National Real Estate Development Council (NAREDCOMaharashtra’s HOMETHON Property Expo 2024’.

 The HOMETHON Expo 2024 will showcase over 1000 top notch projects from Maharashtra‘s leading developers. Home buyers will get to choose from an array of properties across segments; be it affordable or luxury housing. These include properties from across Mumbai and MMR as well as Thane, Kalyan, Navi Mumbai, Panvel, Raigad, Mira Road, Vasai, Virar etc. In addition, properties from Pune, Nashik and Nagpur along with second home projects and plotted schemes will also be on display.

 Top housing finance companies will showcase attractive home loan offers for potential buyers at this three-day property extravaganza, which will also feature premier real estate brands from across the state.

 Property prices on offer will range from Rs. 19 lakhs to 9 crores, providing home buyers with a wide array of options to help them realize their dream of home ownership. To make the process even more appealing, developers are offering incentives such as no stamp duty or registration charges, no GST, no processing fees, immediate benefits, and other festive promotions on selected units.

Commenting on the HOMETHON Property Expo, Mr. Prashant Sharma, President, NAREDCO Maharashtra, says, “We are witnessing an unprecedented surge in home buyer enthusiasm, which is driving a remarkable increase in housing demand. We are excited to host the HOMETHON Property Expo 2024, where we anticipate a substantial boost in home sales. This year’s event will showcase exclusive discounts and Dussehra specials tailored by developers, offering a unique opportunity for buyers to find their ideal homes at exceptional values. I encourage all prospective homebuyers to seize this chance and explore the excellent deals available at HOMETHON Property Expo 2024.”

 Dr. Niranjan Hiranandani, Chairman, NAREDCO says, The housing market is currently experiencing a vibrant surge, fueled by greater job stability, increased disposable incomes, and rising aspirations. Against this backdrop, and with the added excitement of the festive season, this property exhibition is uniquely positioned to help home buyers achieve their long-cherished dream of owning a home.”

 Mr. Rajan Bandelkar, Vice Chairman, NAREDCO says, “NAREDCO Maharashtra is dedicated to creating a robust ecosystem marked by trust and transparency, which has significantly bolstered home buyer confidence. This property expo offers an exceptional opportunity for developers to showcase their premium projects and connect with prospective buyers. With exclusive discounted rates and a wide range of options, this event is designed to make the home-buying process more accessible and rewarding for all. We are excited to facilitate this vital connection and support our vision of making home ownership a reality for many.”

 Mr. Rajesh Doshi, Secretary, NAREDCO Maharashtra says, “This property expo is poised to drive a significant increase in housing demand. By bringing together developers, home buyers, and key stakeholders under one roof, we aim to streamline the home buying process and enhance the overall experience for everyone involved.”

 The HOMETHON Property Expo 2024 will feature a business lounge and networking centers where attendees can engage with industry experts and leaders. To facilitate ease of access, transportation from major locations in Mumbai to the exhibition venue will be provided. Additionally, visitors will benefit from free parking and will have numerous chances to win exciting lucky draw prizes.

 Prominent developers scheduled to participate in this event include Hiranandani Group, Godrej Properties, L&T Realty, Runwal Developer, Raunak Group, K Raheja Corp, Raymond Realty, MICL Group, Prestige Group, Transcon Developers, J P Infra, Dynamix Group, ID Group, Atul Projects, Sugee, Kanakia, Srishti Group, GHP Corp, A P Realty, Ajmera Cityscapes, Suraj Estates, Atharva Lifestyles, Platinum Corp, Paradise Group, Roha Group, Raghav Group, Spenta Corp and many others. Housing Finance Companies like State Bank Of India, Tata Capital HFC, ICICI Bank, IDBI Bank, Aditya Birla Capital among others to facilitate home loans at the event. 

Atlys secures USD 20 million funding Co-led by Peak XV Partners and Elevation Capital

National, 24th September 2024: Atlys, the leading visa processing platform, has raised $20 million in its Series B funding round, co-led by Peak XV Partners (formerly Sequoia Capital India) and Elevation Capital. The round saw strong participation from all existing investors, alongside new investors such as DST Global and Headline.

This new funding marks a pivotal milestone in Atlys’ rapid ascent, with the company experiencing 20x growth over the past year. The platform has expanded its footprint in key global markets, including the US, UAE, and the UK, while strengthening its leadership team with top-tier hires in product, engineering, and marketing.

mohak nahta

The fresh capital will fuel Atlys’ aggressive expansion strategy, empowering the company to enhance its product and engineering capabilities, enter new markets, and scale operations globally. A core focus remains on meeting the growing needs of travellers, particularly in India, where international tourism is booming.

“Atlys has seen extraordinary 20x growth over the last 12 months,” said Mohak Nahta, Founder and CEO of Atlys. “This investment will enable us to continue scaling globally and ensure that travellers can obtain their visas on time, every time. As India’s outbound tourism surges, the need for a seamless, on-time visa process is more critical than ever. We are one step closer to a world where borders no longer restrict exploration.”

In 2023, global outbound international tourists totalled 1.3 billion, fueled by rising international tourism, expanding expatriate communities, and the increasing adoption of digital travel solutions. With these drivers, the market is expected to grow at a CAGR of 10.5% over the next decade. In India, 30 million travellers ventured abroad, marking a 20% year-on-year increase, largely propelled by a growing middle class and greater access to affordable travel options. A significant portion of this growth came from Tier 2 and Tier 3 cities, which contributed to 43% of the country’s outbound travel, reflecting a broader shift beyond metro-driven demand. (as per a report by UNWTO)

Atlys is at the forefront of this transformation, leveraging cutting-edge automation to streamline visa applications for over 150 destinations. It has been successful in reducing rejections, and cutting processing times to as fast as 55 seconds. With a user-friendly interface and strong data encryption, Atlys ensures both convenience and security for global travellers.

Shraeyansh Thakur, Principal at Peak XV, added, “Travel continues to see strong tailwinds globally and our thesis is that visas are just the starting point. We believe Atlys can go on to become a broader travel services platform for a range of use cases for travellers globally, and we are excited to deepen the partnership with Mohak and the Atlys team on this journey.”

Mayank Khanduja, Partner at Elevation Capital, said, “Atlys is one of the most innovative products to emerge in the travel space in a long time—a space where many have focused on transaction revenue without addressing the real pain points of global travellers. We believe in their long-term vision and the value they are creating, for global travellers in today’s fast-paced world. This new round of funding is a testament to the progress they’ve made, and we’re excited to support them as they scale into new markets and continue redefining what seamless travel looks like. ”

Atlys last raised Series A funding in 2023 from Peak XV partners, Elevation Capital, a seed round led by Andreessen Horowitz (A16Z) in 2021 and a pre-seed round led by South Park Commons.

Arena Animation Hyderabad Wraps Up ‘New Age Careers for New India: PERSPECTIVES Tour 2024

Hyderabad, September 24, 2024: Arena Animation, one of India’s leading animation institutes in the country, is delighted to announce the successful conclusion of ”New Age Careers for New India: PERSPECTIVE Tour 2024’ for the youth in Hyderabad. The seminar was held on September 23, 2024, at K.L.N. Prasad Auditorium, Hyderabad. This vibrant platform drew together luminaries from the media and entertainment industry to share their invaluable experiences and insights into the creation of captivating creative works. The event was attended by an over 400+ young aspirants and professionals across the city eager to learn and grow in this creative field, sparking an engaging exchange of ideas.

arena

‘Perspectives’ provides a unique opportunity for participants to gain an insider’s view of the industry, marking a crucial moment for aspiring students. The event, known for attracting passionate participants year after year, hosted numerous students this year as well, who were interested in exploring careers in animation, VFX, multimedia, gaming  and web design. Attendees were offered a series of thought-provoking sessions led by distinguished key opinion leaders alongside an insightful dive into the intricate processes behind top-tier animation, visual effects and filmmaking.

Distinguished industry experts, including Mr. Ravi Kothapalli, Managing Director from Hornbill Studios and Mr. K. Ramakrishna (VFX Supervisor), Mr. G Laxman & Mr. Meher Prasad J from Greengold Animation inspired attendees with their invaluable industry insights and in-depth technical knowledge.

Mr. Ravi Kothapalli, Managing Director from Hornbill Studios delivered a compelling session on “Making Aspirants Industry-Ready in the World of Visual Effects, Animation, and Gaming”.

Mr. K. Ramakrishna (VFX Supervisor), Mr. G Laxman & Mr. Meher Prasad J from Greengold Animation offered an intriguing perspective on the VFX Live Action Movie making of Chhota Bheem and the Curse of Damyaan

The event received an overwhelming response from the attendees, who praised the depth and relevance of the presentations. The discussions highlighted the transformative impact of emerging technologies and offered actionable insights for students and young professionals.

Mr. Sandip Weling, Chief Business Officer – Retail Business, Aptech Limited. ”We are thrilled with the success of ‘New Age Careers for New India: PERSPECTIVES Tour 2024’. The event has truly set a benchmark on how we engage and envision the future of careers in India. I trust that the participation of key opinion leaders and the thought-provoking discussions and insights has immensely benefitted the aspirants keen to pursue new-age careers. Arena Animation is committed to equipping students with new-age skillsets and we urge the young aspirants/ prospects to walk-in to our centres to explore their talent and unleash their creative potential.”

As the consumer increasingly gravitates towards superheroes and formidable creatures, India’s AVGC sector has witnessed unparalleled growth rates in recent years. According to the 24th annual Global Entertainment & Media Outlook 2023-2027 by PWC across 13 sectors in 53 territories, India’s Media & Entertainment   industry is projected to grow at a 9.7% CAGR, reaching US$73.6 billion by 2027. This surge has attracted numerous international players seeking to tap into India’s talent pool for offshore service delivery.

With a legacy spanning over 25 years, Arena Animation stands as a testament to excellence, fortified by strategic alliances, stellar faculty, and cutting-edge technological tools. The mission remains clear – to equip youth with industry-relevant skills and hone their creativity, build resilience, and encourage teamwork, enabling them to succeed in the workplace where they will have to meet deadlines, deliver presentations, and network with industry peers. Arena Animations remains committed in cultivating a pool of highly employable and successful professionals, ready to make their mark in the dynamic world of media and entertainment.

Tuco Intelligent Raises dollar2 Million In Seed Funding From Fireside Ventures & Whiteboard Capital

September 24th, Bangalore: Tuco Intelligent, a kids’ personal care brand, today announced that it has raised $2 million in a seed funding round led by Fireside Ventures and Whiteboard capital. The round also saw participation of the Ashish Goenka led Suashish Group and angel investors like Vijay Nehra, Arjun Purkayastha, and early backers of brands like Mamaearth, Sugar, Pilgrim, Whole Truth and Mokobara.

Aishvarya

Founded by Aishvarya Murali in 2023, Tuco Intelligent offers a range of natural and sustainable personal care products only for kids. The range includes soaps, lotions, creams, makeup and deodorants. All products are packaged in 100% landfill and ocean-reclaimed plastic, aligning with the brand’s commitment to a greener planet for children.

The range targets the unique personal care needs of kids aged 4-12, a demographic with growing needs at every stage. Ages 4 onward, kids start school and day care and along with it comes grime, dandruff, sun exposure, etc. At age 6-7, girls hanker after makeup, and at 8-9 years, pre-adolescent challenges like body odour, acne & oily skin emerge. Tuco Intelligent addresses these growing needs with products made from natural, time tested Indian ingredients like beetroot, turmeric, saffron, rosehip, reetha, etc. which are not only natural but also effective.

Commenting on the funding, Aishvarya Murali, Founder & CEO, Tuco Intelligent said, “I started Tuco Intelligent because I couldn’t find suitable solutions for my own kids. From skincare made with beetroot and cocoa extract to deodorants crafted from rose water, these products are inspired by recipes from our grandmother’s kitchen. The sustainable mission of 100% recycled plastic is dear to me and a guiding packaging philosophy in all ranges. We’re excited to have the backing of fantastic investors who are in it to build a meaningful and sustainable business. With the strong traction we’ve seen for our range, we’re now ready to scale.”

VS Kannan Sitaram, Co-Founder and Partner of Fireside Ventures, said: “The kids’ personal care market has remained largely untapped. While there are numerous brands for babies and adults, the 4-12 age group has limited options. We believe Tuco Intelligent, with its dedicated focus on this category, is well-positioned to serve the market. We were particularly impressed by their ability to build a strong base of repeat customers.”

Anshu Prasher, Partner at Whiteboard Capital, added: “Parents are increasingly looking for brands that understand the nuances of children’s skin and hair care, and Tuco Intelligent, with its natural, thoughtful approach, is uniquely positioned to meet this growing demand. The brand has experienced impressive growth over the past year, and we are excited to continue supporting them on this journey.”

Fastest-Growing US QE Company, QualiZeal, Targets Major India Expansion; Aims to Triple Workforce in 3-4 Years

India, September 2024 – QualiZeal, one of the fastest-growing Quality Engineering (QE) companies in the USA, recently announced its ambitious expansion plans in India, with a key focus on tapping into the country’s vast tech talent pool. Recognizing India as a strategic hub for skilled professionals, the company plans to triple its workforce over the next three to four years by adding 2,000 new jobs. This expansion is central to QualiZeal’s goal of significantly boosting its global capabilities and advancing toward its target of $100 million in annual revenue.

Headquartered in Texas, USA, QualiZeal has already established core capacity centers in Hyderabad, which have played a critical role in the company’s growth. The India expansion is not only aimed at increasing capacity but also at harnessing the country’s unparalleled tech expertise to fuel innovation and transformation in the Quality Engineering space. By leveraging India’s talent, QualiZeal seeks to solidify its position as a global leader in digital transformation services.

“We are deeply committed to India as a strategic talent hub,” said Mr. Pradeep Govindasamy, President & CEO of QualiZeal. “India’s tech talent is unparalleled, and with our planned expansion, we aim to harness this potential to drive innovation and transformation for our clients globally. This is an exciting time for QualiZeal, and we are on a trajectory to achieve unparalleled growth in the Quality Engineering services industry.”

QualiZeal‘s offerings span across Quality Engineering, Digital Engineering, Advisory and Transformation, and Emerging Technology Testing. Trusted by over 70 global enterprises, the company boasts an impressive record of more than 200 successful projects, supported by a team of over 750 elite software quality engineers. QualiZeal’s clients also benefit from AI and ML-powered predictive capabilities, which accelerate testing processes by 3x while reducing costs by 4x.

“By expanding our India operations, we are not just increasing capacity but also investing in the future of AI and GenAI-powered Quality Engineering,” said Mr. Madhu Murty Ronanki, Co-Founder & Head of India Operations, QualiZeal. “Our goal is to build a world-class workforce that delivers exceptional value to clients and contributes to QualiZeal’s mission of becoming the global leader in digital pure-play Quality Engineering.”

QualiZeal’s impressive growth trajectory is underscored by industry accolades, including the Bronze Stevie® Award in the 2024 American Business Awards®, which highlight the company’s dedication to excellence in business performance and fostering an inclusive, diverse workplace on a global scale. With a robust growth strategy and a focus on building a world-class workforce, QualiZeal is well-positioned to lead the next wave of digital transformation in the years ahead.

GROHE’s Phantom Black sets new benchmark in the bathroom industry

New Delhi, September 24, 2024: GROHE, a leading global luxury brand for bathroom solutions and kitchen fittings, has introduced industry’s first darkest black collection —The Phantom Black, which is part of its popular Essence range. This elegant collection was launched Pan India on September 20, with special preview at GROHE’s experience centers in Mumbai, Delhi, and Bangalore. Phantom Black combines elegance and sophistication, designed to leave a lasting impression in modern bathrooms. The launch event attracted a distinguished audience from the architectural, design & trade community, highlighting the collection’s appeal and significance in contemporary design.

grohe

GROHE’s Phantom Black represents a significant evolution in design philosophy, acknowledging a notable market shift from the traditional chrome finishes to the sophisticated allure of solid dark black. This recent addition by GROHE not only reflects changing consumer preferences but also enhances the aesthetic appeal of modern bathroom spaces.

The GROHE Phantom Black collection is distinguished by its innovative lacquer technology, providing exceptional durability to its finish. Resistant to scratches, fading, and corrosion, the smooth matte texture radiates luxury while enhancing the beauty of any bathroom. A standout feature is its ability to repel fingerprints, water spots, and stains, ensuring easy maintenance and a consistently clean appearance. Versatility and elegance define the collection, as its sophisticated finish complements a wide range of interior styles—from contemporary to industrial—making it an ideal choice for both designers and homeowners alike.

GROHE is expanding its design horizons by closely monitoring market insights and evolving consumer preferences. The introduction of Phantom Black, following the successful Matte Black range, demonstrates GROHE‘s commitment to delivering innovative solutions that resonate with today’s design-savvy customers. By offering a curated palette of colors and finishes, GROHE empowers consumers to create personalized bathroom spaces that reflect their individuality. This strategic focus not only enhances aesthetic appeal but also ensures that products are durable and easy to maintain, aligning with the practical needs of modern living. Through this approach, GROHE continues to redefine luxury in bathroom design while addressing the diverse aspirations of its clientele

Priya Rustogi, the leader at LWT India and Subcon said,” The Indian market is evolving like never before, with consumers increasingly seeking innovative designs and fresh colors like Phantom Black that reflect their individuality and contemporary lifestyles. This shift highlights a desire for bold expressions that transform spaces into personal statements.”

Primus Partners: India-UAE Trade Set to Exceed Ambitious Target Early

Mumbai, 24 September 2024 Primus Partners, India’s leading home-grown consultancy firm, has today unveiled an in-depth analysis of the India-UAE economic relationship, something that got strengthened with the recent visit of UAE President Sheikh Khaled bin Mohamed bin Zayed Al Nahyan to India. The analysis explores current trade patterns and future projections, indicating that bilateral trade between the two nations is on track to surpass the ambitious $100 billion target well before 2030. This impressive growth is underscored by a notable 12.7% year-on-year increase.

Key Insights:

  • In 2022, the historic India-UAE Comprehensive Economic Partnership Agreement (CEPA) was enacted and came into force. Prime Minister Modi’s 7th visit to the UAE led to pivotal MoUs on trade, energy, infrastructure, culture & people-to-people initiatives
  •  UAE remains India’s 3rd largest trading partner and 2nd largest export destination (FY 2022-23)
  •  India solidifies its position as UAE’s 2nd largest trading partner (FY 2022-23)
  •  Bilateral trade reached $85 billion in FY 2022-23, expected to cross the 2030 target of USD 100 Bn well before the expected timeline
  • Both countries lead the path for key Collaborative Ventures Including the India-Middle East-Europe Economic Corridor (IMEEC) as well as the India-Israel-UAE-US (I2U2) coalition

Nilaya Varma, CEO & Co-founder of Primus Partners, emphasized, “India-UAE trade relations are entering a new era, driven by structural reforms like CEPA that have dismantled long-standing barriers. This shows how this trade growth is not only strengthening existing sectors like gems, jewellery, and IT but is also paving the way for emerging industries such as green energy and food security. The partnership is now more strategic and forward-looking, setting the stage for both nations to leverage their complementary strengths and create an integrated trade ecosystem that will be critical in navigating the shifting dynamics of global commerce.” “As these initiatives unfold, we expect to see transformative impacts across the region and beyond, reshaping global trade dynamics in the coming decades,” concluded Nilaya Varma.

Looking forward, Primus Partners’ analysis outlines a series of strategic initiatives aimed at accelerating the India-UAE economic relationship that includes:

  • Implementation of a master dashboard to oversee critical infrastructure projects, particularly within the IMEEC framework
  • Establishment of a bilateral e-commerce marketplace for goods and services under the CEPA framework, potentially leveraging India’s Open Network for Digital Commerce (ONDC) model
  • Creation of an online digital repository highlighting investable projects in identified strategic sectors
  • Development of an International Water Credit Exchange Market to address water security challenges
  • Introduction of a unified tourism booking platform and special enclaves catering to luxury, religious, and business travel

Nader Haffar, Director of Primus Partners UAE, stated, “The India-UAE economic relationship has evolved into a multifaceted partnership that is reshaping the future of regional and global trade. This highlights how both countries are not just increasing trade volumes but are aligning their strategic goals in key areas like digital innovation, energy sustainability, and infrastructure. This synergy between two of the world’s fastest-growing economies is creating new opportunities, fostering innovation, and building a foundation for long-term prosperity that could serve as a global model for emerging market partnerships. Managing these partnerships will create a stronger and more diverse bilateral relationship, one that is less dependent on traditional sectors and more oriented toward future development. “

The India-UAE trade relationship is experiencing robust growth across several key sectors, reflecting the strategic alignment of both economies. Technology and infrastructure development have become vital growth drivers, with both countries collaborating on projects like the India-Middle East-Europe Economic Corridor (IMEEC). This initiative encompasses railway lines, sea routes, road networks, electricity grids, optical fiber cables, and hydrogen gas pipelines, promising to revolutionize regional connectivity and trade.

Gems and jewelry, traditionally a cornerstone of trade, have seen increased activity under the Comprehensive Economic Partnership Agreement (CEPA). The metals, stones, gems, and jewelry sector is among India’s key exports to the UAE. Additionally, India’s agricultural exports to the UAE, including cereals, sugar, fruits, vegetables, and tea, contribute significantly to the trade basket, helping to address the UAE’s food security objectives.

While the growth trajectory is impressive, challenges like the need for water security in both nations remain critical. To address this, the analysis recommends establishing an International Water Credit Exchange Market, involving governments, the private sector, NGOs, and academia to promote sustainable water management practices globally.

The analysis further highlights the transformative potential of the IMEEC and the India-Israel-UAE-US (I2U2) coalition. These initiatives are expected to enhance efficiency, reduce costs, secure supply chains, and foster transformative integration across Asia, Europe, and the Middle East.