NMIT Teams Triumph at Eco-Avengers 2025, A National Sustainability Competition, Securing First Place and Multiple Top Rankings
Bengaluru, 23rd January — Students from Nitte Meenakshi Institute of Technology (NMIT) have clinched first place at Eco-Avengers 2025, a prestigious National Level Sustainability Pitch Battle competition. The event, organized by Mount Carmel College and EIMR Business School, Bengaluru, was held recently, showcasing innovative solutions for environmental challenges.
The winning team, TEAM BOREAS, comprising Tanush SN, Kevin Joseph, Abhay PS, Jeevan S, and Sathvi Nagaraj, impressed the panel of distinguished judges, including Supriya Panchangam, CEO at The Future Founders Co. and Rohan Subash, Sustainability Education at The Futures Founders Co. with their innovative project: a low cut-in speed Eco-Friendly Dual-Axis Wind Turbine (DAWT). Their innovation stands out for its sustainable design, incorporating recyclable materials and advanced features that maximize energy output while minimizing environmental impact.
Under the exceptional guidance of Dr. L. Harish Kumar, Associate Professor, Department of Mechanical Engineering, NMIT, three teams from the institution qualified for the finals, with all three securing positions in the top five. The other two finalist teams, TEAM HORUS and TEAM TRYDAN presented innovative projects on solar electric vehicles and eco-friendly automobile body panels, respectively.
Speaking about the student’s achievement Dr. L. Harish Kumar, NMIT said, “This achievement reflects our institution’s commitment to promoting sustainable innovation. “Our students have demonstrated exceptional creativity and technical expertise in developing solutions that address critical environmental challenges.”
The winning project demonstrated several notable sustainable features. It incorporated recyclable materials in its key components, while achieving enhanced energy efficiency even at low wind speeds. The design successfully reduces its carbon footprint and employed a modular approach that facilitates easy maintenance. During operation, the project maintained minimal environmental impact, making it an environmentally responsible solution.
This victory marks a significant milestone for NMIT, highlighting the institution’s dedication to sustainability and innovation in engineering education. The comprehensive eight-month mentorship provided by Dr. Harish Kumar, which included technical guidance, training sessions, and pitch preparation, played a crucial role in the teams’ success.
Adani Says No To Star-Studded Wedding
Prayagraj: 23nd January, 2025: Industrialist Gautam Adani today scorched soaring speculation and buzzing social media rumours that his son Jeet’s upcoming wedding is going to be an extravagant spectacle.
Responding to a media question at Prayagraj if the wedding were going to be a “Maha Kumbh of celebrities,” the billionaire said, “Definitely not!”
In recent days, social media has been awash in reports that a pantheon of global stars and celebrities would be attending Jeet Adani’s wedding with Diva Shah, daughter of Surat diamond merchant Jaimin Shah. The guest names included Elon Musk, Bill Gates, Mark Zuckerberg, Daniel Craig, Taylor Swift, Justin Bieber, Kanye West, the Kardashian sisters, Rafael Nadal, Diljit Dosanjh, Sundar Pichai, Satya Nadella, Billie Eilish, Coldplay and even King Charles and the Pope. Some social media users also said that the India-England ODI at the Motera stadium had been moved to accommodate the wedding, which was expected to feature 1,000 super cars, hundreds of private jets and chefs from 58 countries at a cost of over Rs 10,000 crore.
Speaking after performing the Ganga Aarti with his family at Prayagraj’s Triveni Sangam, Adani said, “My upbringing and our way of doing things are that of a common person from the working class. Jeet too is here for Ma Ganga’s blessings. The wedding will be a simple and traditional family affair.”
Gautam Adani’s announcement that his son’s wedding on 7 February would be a low-key private ceremony in Ahmedabad came during his visit to the Maha Kumbh Mela in Prayagraj. He was accompanied by his wife Dr Priti Adani, sons Karan and Jeet, daughter-in-law Paridhi and granddaughter Kaveri. At the Maha Kumbh, the Adani family offered prayers at the Lete Hanuman Temple after participating in the Mahaprasad Seva at ISKCON, where Adani is supporting the distribution of over one lakh free meals daily. Adani is also giving away one crore prayer books printed by the renowned Gita Press of Gorakhpur.
Calling the Maha Kumbh Mela “an indescribable experience,” the industrialist lavished praise on the Modi and Yogi governments for the arrangements, especially policing and sanitation, and said that the Mela’s successful administration should be studied by management institutes and corporate houses.
Milann Fertility Center Bengaluru Successfully Manages Safe Delivery for High-Risk Pregnancy
Pregnancy causes stress on the heart and circulatory system because the blood volume rises from 30% to 50%, which puts more strain on the heart valve. In India, congenital heart disease and rheumatic heart disease are the most prevalent forms of heart illness during pregnancy. Preeclampsia, anaemia, premature labour, and intrauterine foetal development restriction are among the obstetric problems that frequently affect pregnant women with heart disease.
“Mrs. Sohini (Name Changed), a 35-year-old woman who had been married for ten years, had a history of rheumatic heart disease. In 2006, she had to have a prosthetic valve placement because of blockage of a heart valve. Although this valve replacement saved her life, there were still concerns, such as the possibility of infection and clot development. She had to be on high-dose of blood thinners for that. She consulted Infertility specialist for pregnancy. While being evaluated for fertility concerns, she became pregnant naturally. Unfortunately, 10 weeks into her natural pregnancy, she miscarried. She underwent minor surgery for termination of pregnancy. Even after carefully following her cardiologist’s advice, she had valve obstruction, which required a second replacement procedure,” shared Dr. Varini N, Senior Consultant – Obstetrician and Gynaecologist, Milann Fertility Center, Bengaluru.
“Due to her cardiac disease and the usage of blood thinners, Mrs. Sohini’s current pregnancy was deemed high-risk. This presented two-fold challenges: managing the risk of bleeding that could endanger the baby while preventing clots to protect her heart. She was sent to the Milan Maternal-Fetal Medicine (MFM) department for specialized care at 10 weeks,” added Dr. Varini.
What is Rheumatic heart disease?
As a result of rheumatic fever, the heart valves become permanently damaged, leading to rheumatic heart disease. In the early stages of the disease, rheumatic heart disease usually shows no symptoms. Shortly after a childhood streptococcal infection that is either untreated or inadequately treated, heart valve damage may begin. Of greater significance, rheumatic heart disease continues to rank among the world’s most common causes of maternal cardiac problems during birth. Pregnant patients who have received inadequate or no treatment are at a greater risk of developing heart failure, and abortion is strongly advised.
Fever, lumps under the skin (nodules), a raised red rash, weakness, exhaustion, shortness of breath, chest pain, and swollen, tender, and painful joints—especially in the knees and ankles—are all typical indications and symptoms of rheumatic heart disease. Sudden cardiac death could result if treatment is not received for an extended length of time.
Rheumatic Heart Disease and Pregnancy Risks
During pregnancy, the blood volume increases which puts extra strain on heart valves. In women with rheumatic heart disease, this heightened pressure on damaged valves raises the risk of severe complications, including maternal and fetal death, preterm delivery, and heart failure around delivery.
Because she needed blood thinners and was at risk for pre-eclampsia, Mrs. Sohini’s pregnancy was high risk. The hazards associated with stopping or continuing the medicine were substantial, requiring careful monitoring of the fetal growth and the mother’s heart health. To control bleeding risks, an elective C-section was carefully arranged at 37 weeks. Blood components were ready, and twelve hours before surgery, her blood thinners were stopped. Six hours after the surgery, she resumed taking blood thinners, and the baby, weighing 2.8 kg, was born healthy. She spent 24 hours in the high-dependency unit before moving to the ward and was released on the fourth day. Mother and child had a full and trouble-free recovery.
Viva Brings India’s First Pre-Coated Solid Aluminium Panels for Hassle-Free Installation
Viva, Asia’s largest manufacturer and supplier of aluminium composite panels (ACP), a pioneer in innovative building materials, proudly unveiled SOLID X—India’s first pre-coated ready-to-install solid aluminium panels—at the prestigious BAU Expo in Germany. This groundbreaking product marks a new era in architectural design, combining unmatched strength, versatility, and sustainability to redefine modern facades and interiors. With decades of expertise in the building materials industry, Viva continues to push the boundaries of innovation, offering a product that not only elevates durability and aesthetic appeal but also champions eco-conscious manufacturing.
SOLID X aluminium panels are engineered to deliver exceptional performance, setting new benchmarks in architectural materials. With a fire rating of A1, the highest classification for non-combustible materials, and a weather-resistant PVDF coating, these panels ensure long-lasting beauty and safety. Designed with parallel flatness to minimize internal stress, they provide sleek aesthetics and superior load-bearing capacity, making them ideal for wider spans and greater design flexibility. The lightweight yet strong composition facilitates easy installation, while customizable textures and colors cater to diverse architectural visions.
The panels are a testament to sustainability, produced using eco-friendly practices that result in a low carbon footprint. Viva’s commitment to durability is backed by a 15-year warranty, offering long-term performance and peace of mind. Features like scratch resistance, antimicrobial silver-ion coating, and self-cleaning properties further enhance the value of SOLID X, making it a perfect choice for both functional and aesthetic applications.
Mr. Mayank Jain, Director of Viva Composite Panel Pvt. Ltd., said, “The launch of SOLID X at BAU marks a significant milestone for Viva as we introduce India’s first pre-coated ready-to-install solid aluminium panels to the global stage. SOLID X reflects our commitment to innovation, sustainability, and excellence, offering architects and designers a revolutionary material that combines unmatched durability, aesthetic versatility, and eco-conscious manufacturing. This is not just a product—it’s a promise to redefine the future of facades and interiors worldwide.”
Viva SOLID X panels are versatile and can be seamlessly integrated into various spaces, including commercial environments like corporate offices, retail stores, and malls; residential properties such as high-rise buildings, apartments, and villas; and public infrastructure, including airports, metro stations, and stadiums.
With SOLID X, Viva has introduced a product that redefines facades and interiors while setting a benchmark for sustainable architecture. By launching this transformative innovation at BAU, Viva underscores its position as an industry leader committed to driving the future of building materials.
HDFC Bank’s Indian GAAP Financial Results for the Quarter and Nine Months Ended December 31, 2024
The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter and nine months ended December 31, 2024, at its meeting held in Mumbai on Wednesday, January 22, 2025. The accounts have been subjected to a ‘Limited Review’ by the statutory auditors of the Bank.
CONSOLIDATED FINANCIAL RESULTS:
The Bank’s consolidated net revenue was ₹ 652.8 billion for the quarter ended December 31, 2024. The consolidated profit after tax for the quarter ended December 31, 2024 was ₹ 176.6 billion. The consolidated PAT adjusted for trading & mark to market gains, prior year one-off provisions and prior year tax credits, grew by 13.1%. The consolidated PAT for the nine months ended December 31, 2024 was ₹ 519.6 billion. Earnings per share for the quarter ended December 31, 2024 was ₹ 23.1 and book value per share as of December 31, 2024 was ₹ 656.6.
STANDALONE FINANCIAL RESULTS:
Profit & Loss Account: Quarter ended December 31, 2024
The Bank’s net revenue grew by 6.3% to ₹ 421.1 billion for the quarter ended December 31, 2024 from ₹ 396.1 billion for the quarter ended December 31, 2023.
Net interest income (interest earned less interest expended) for the quarter ended December 31, 2024 grew by 7.7% to ₹ 306.5 billion from ₹ 284.7 billion for the quarter ended December 31, 2023. Core net interest margin was at 3.43% on total assets, and 3.62% based on interest earning assets.
Other income (non-interest revenue) for the quarter ended December 31, 2024 was ₹ 114.5 billion as against ₹ 111.4 billion in the corresponding quarter ended December 31, 2023. The four components of other income for the quarter ended December 31, 2024 were fees & commissions of ₹ 81.8 billion (₹ 69.4 billion in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹ 14.0 billion (₹ 12.1 billion in the corresponding quarter of the previous year), net trading and mark to market gain of ₹ 0.7 billion (gain of ₹ 14.7 billion in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend of ₹ 17.9 billion (₹ 15.2 billion in the corresponding quarter of the previous year).
Operating expenses for the quarter ended December 31, 2024 were ₹ 171.1 billion, an increase of 7.2% over ₹ 159.6 billion during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter was at 40.6%.
Provisions and contingencies for the quarter ended December 31, 2024 were ₹ 31.5 billion as against ₹ 42.2 billion for the quarter ended December 31, 2023.
Profit before tax (PBT) for the quarter ended December 31, 2024 was at ₹ 218.5 billion. Profit after tax (PAT) for the quarter was at ₹ 167.4 billion. PAT, adjusted for trading & mark to market gains, prior year one-off provisions and prior year tax credits, grew by 13.6% over the quarter ended December 31, 2023.
Balance Sheet: As of December 31, 2024
Total balance sheet size as of December 31, 2024 was ₹ 37,590 billion as against ₹ 34,926 billion as of December 31, 2023.
The Bank’s average deposits were ₹ 24,528 billion for the December 2024 quarter, a growth of 15.9% over ₹ 21,171 billion for the December 2023 quarter, and 4.2% over ₹ 23,540 billion for the September 2024 quarter.
The Bank’s average CASA deposits were ₹ 8,176 billion for the December 2024 quarter, a growth of 6.0% over ₹ 7,711 billion for the December 2023 quarter, and 1.1% over ₹ 8,084 billion for the September 2024 quarter.
Total EOP Deposits were at ₹ 25,638 billion as of December 31, 2024, an increase of 15.8% over December 31, 2023. CASA deposits grew by 4.4% with savings account deposits at ₹ 6,056 billion and current account deposits at ₹ 2,671 billion. Time deposits were at ₹ 16,911 billion, an increase of 22.7% over the corresponding quarter of the previous year, resulting in CASA deposits comprising 34.0% of total deposits as of December 31, 2024.
The Bank’s advances under management, on an average basis, were ₹ 26,276 billion for the December 2024 quarter, a growth of 7.6% over ₹ 24,414 billion for the December 2023 quarter, and a growth of 2.5% over ₹ 25,639 billion for the September 2024 quarter.
Gross advances were at ₹ 25,426 billion as of December 31, 2024, an increase of 3.0% over December 31, 2023. Grossing up for transfers through inter-bank participation certificates, bills rediscounted and securitisation / assignment, advances under management grew by 6.1% over December 31, 2023. Retail loans grew by 10.0%, commercial and rural banking loans grew by 11.6% and corporate and other wholesale loans were lower by 10.4%. Overseas advances constituted 1.8% of total advances.
Nine months ended December 31, 2024
For the nine months ended December 31, 2024, the Bank earned a total income of ₹ 2,566.6 billion as against ₹ 2,179.4 billion in the corresponding period of the previous year. Net revenues (net interest income plus other income) for the nine months ended December 31, 2024 were ₹ 1,242.1 billion, as against ₹ 1,105.3 billion for the nine months ended December 31, 2023. Profit after tax for the nine months ended December 31, 2024 was ₹ 497.3 billion, up by 12.3% over the corresponding nine months ended December 31, 2023.
Capital Adequacy:
The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 20.0% as on December 31, 2024 (18.4% as on December 31, 2023) as against a regulatory requirement of 11.7%. Tier 1 CAR was at 18.0% and Common Equity Tier 1 Capital ratio was at 17.5% as of December 31, 2024. Risk-weighted Assets were at ₹ 25,305 billion.
NETWORK
As of December 31, 2024, the Bank’s distribution network was at 9,143 branches and 21,049 ATMs across 4,101 cities / towns as against 8,091 branches and 20,688 ATMs across 3,872 cities / towns as of December 31, 2023. 51% of our branches are in semi-urban and rural areas. In addition, we have 15,196 business correspondents, which are primarily manned by Common Service Centres (CSC). The number of employees were at 2,10,219 as of December 31, 2024 (as against 2,08,066 as of December 31, 2023).
ASSET QUALITY
Gross non-performing assets were at 1.42% of gross advances as on December 31, 2024 (1.19% excluding NPAs in the agricultural segment), as against 1.36% as on September 30, 2024 (1.19% excluding NPAs in the agricultural segment), and 1.26% as on December 31, 2023 (1.11% excluding NPAs in the agricultural segment). Net non-performing assets were at 0.46% of net advances as on December 31, 2024.
SUBSIDIARIES
Amongst the Bank’s key subsidiaries, HDFC Life Insurance Company Ltd and HDFC ERGO General Insurance Company Ltd prepare their financial results in accordance with Indian GAAP and other subsidiaries do so in accordance with the notified Indian Accounting Standards (‘Ind-AS’). The financial numbers of the subsidiaries mentioned herein below are in accordance with the accounting standards used in their standalone reporting under the applicable GAAP.
HDB Financial Services Ltd (HDBFSL), is a non-deposit taking NBFC in which the Bank holds a 94.5% stake. For the quarter ended December 31, 2024, HDBFSL’s net revenue was at ₹ 25.0 billion. Profit after tax for the quarter ended December 31, 2024 was ₹ 4.7 billion compared to ₹ 6.4 billion for the quarter ended December 31, 2023. Profit after tax for the nine months ended December 31, 2024 was ₹ 16.5 billion. The total loan book was ₹ 1,021 billion as on December 31, 2024. Stage 3 loans were at 2.25% of gross loans. Total CAR was at 19.2% with Tier-I CAR at 14.4%.
HDFC Life Insurance Company Ltd (HDFC Life), in which the Bank holds a 50.3% stake, is a leading life insurance solutions provider. Profit after tax for the quarter ended December 31, 2024 was ₹ 4.1 billion compared to ₹ 3.7 billion for the quarter ended December 31, 2023, a growth of 13.7%. Profit after tax for the nine months ended December 31, 2024 was ₹ 13.3 billion.
HDFC ERGO General Insurance Company Ltd (HDFC ERGO), in which the Bank holds a 50.5% stake, offers a range of general insurance products. Profit after tax for the quarter ended December 31, 2024 was ₹ 1.0 billion, as against profit after tax of ₹ 1.3 billion for the quarter ended December 31, 2023. Profit after tax for the nine months ended December 31, 2024 was ₹ 4.3 billion.
HDFC Asset Management Company Ltd (HDFC AMC), in which the Bank holds a 52.5% stake, is the Investment Manager to HDFC Mutual Fund, and offers a comprehensive suite of savings and investment products. For the quarter ended December 31, 2024, HDFC AMC’s Quarterly Average Assets Under Management were approximately ₹ 7,874 billion. Profit after tax for the quarter ended December 31, 2024 was ₹ 6.4 billion compared to ₹ 4.9 billion for the quarter ended December 31, 2023, a growth of 31.0%. Profit after tax for the nine months ended December 31, 2024 was ₹ 18.2 billion.
HDFC Securities Ltd (HSL), in which the Bank holds a 94.6% stake, is amongst the leading broking firms. For the quarter ended December 31, 2024, HSL’s total revenue was ₹ 7.9 billion. Profit after tax for the quarter ended December 31, 2024 was ₹ 2.7 billion, as against ₹ 2.3 billion for the quarter ended December 31, 2023, a growth of 16.0%. Profit after tax for the nine months ended December 31, 2024 was ₹ 8.7 billion.
BIMTECH Launches India’s First Blockchain Campus Currency
Greater Noida, 23nd January 2025:Birla Institute of Management Technology (BIMTECH), one of India’s leading business schools, proudly introduces its futuristic blockchain-based digital currency, ‘BIMCOIN.’ Specifically designed for BIMTECH’s ecosystem, BIMCOIN facilitates secure, transparent, and instant transactions among students, vendors, and administrators through a permissioned blockchain platform. Following IIT Madras, BIMTECH becomes India’s first business management institute to launch BIMCOIN—ushering fintech innovation in education. BIMTECH and Kalp Decentra Foundation joined forces to launch a cutting-edge Blockchain Learning Centre on campus.
Walking on the path towards the Viksit Bharat 2047 initiative draws inspiration from the Central Bank Digital Currency (CBDC) model and the growing need to merge blockchain technology into real-world plots. Unlike traditional systems, BIMCOIN operates on a blockchain, offering decentralization, transparency, and programmable features like smart contracts.
BIMCOIN streamlines payments, promotes transparency, and introduces advanced financial tools, ensuring enhanced security, fraud protection, and ethical practices. More than a payment solution, BIMCOIN serves as an educational tool, providing students with hands-on experience in blockchain technology, digital currencies, and real-world financial systems.
Dr. Prabina Rajib, Director, BIMTECH, said, “BIMCOIN is more than a payment solution, it is an educational instrument that facilitates our students with practical experience in blockchain technology and digital currencies, shaping their readiness for careers in fintech. This is a significant step in nurturing a culture of innovation and preparing future leaders to thrive in a digital economy. Aligning with Digital India Vision, the digital money leverages permissioned technology with advanced encryption, strict access controls, and data privacy protocols, ensuring the highest security standards.”
The pilot phase was a remarkable success, completing over 1,100 seamless transactions. Challenges, such as technical integration and user onboarding, were addressed through iterative testing and user training. The next phase includes additional rounds of close-net testing before campus-wide implementation. BIMTECH also plans to incorporate this technology into its academic syllabus through courses on blockchain, fintech, and digital innovation, further reinforcing its commitment to advancing education in financial technologies.
Inspired by its founders Late Basant Kumar Birla and Sarala Birla, BIMTECH pioneered innovative programs like PGDM, PGDM-International Business (IB), PGDM-Retail Management (RM), and PGDM-Insurance Business Management (IBM), nurturing individuals into global leaders. Also, BIMTECH is now AACSB accredited, joining the Ivy League of Top Globally Recognized B-Schools. Fostering a symbiotic relationship, the institute excels in management education, supported by its globally placed robust alumni network of over 8000 individuals.
Zydus Receives USFDA Orphan Drug Status for Usnoflast
Ahmedabad, India, January 23, 2025
Zydus, a leading, discovery-based, global pharmaceutical company today announced that the USFDA has granted Orphan Drug Designation (ODD) to Usnoflast, a novel oral NLRP3 inhibitor, for the treatment of amyotrophic lateral sclerosis (ALS). The USFDA’s Office of Orphan Drug Products grants orphan status to support development of medicines for the treatment of rare diseases that affect fewer than 200,000 people in the United States.
Speaking on the development, Chairman of Zydus Lifesciences Limited, Pankaj Patel, said, “This Orphan Drug Designation from the USFDA underlines the urgent need to develop Usnoflast to address Amyotrophic Lateral Sclerosis (ALS), which is a fatal neurodegenerative disease. Zydus is committed to unlocking new frontiers in neuroscience and develop Usnoflast for patients with ALS.”
People living with ALS have an average survival of approximately two to five years from diagnosis, with most ALS patients dying from respiratory failure. ALS patients experience neuroinflammation and rapid neurodegeneration. Axonal neurodegeneration leads to formation of neurofilaments which first accumulate in CSF of ALS patients, and then slowly these neurofilaments enter blood circulation. Owing to rapid neurodegeneration, steady loss of the ability to move, speak, eat, eventually breathe, paralysis and death have been reported in ALS patients. ALS affects approximately 32,000 people in the U.S.A and on an average 5,000 new patients are diagnosed every year with this disease in USA as per statistics from Centre for Disease Control and Prevention (CDC). More than 30,000 people are estimated to be living with ALS in Europe (European Union and United Kingdom), while India has an estimated 75,000 people living with ALS.
Usnoflast (ZYIL1) is a novel, oral small molecule NLRP3 inhibitor. Usnoflast has been studied in several pre-clinical models of neuroinflammation, Parkinson’s disease, Inflammatory Bowel Disease (IBD) and Multiple Sclerosis (MS). The USFDA has earlier granted Zydus an ‘Orphan Drug Designation’ for Usnoflast to treat patients with Cryopyrin Associated Periodic Syndrome (CAPS), a rare auto-inflammatory disease. Zydus has previously completed a Phase 2(a) randomized, double-blind, placebo controlled clinical trial in 24 ALS patients across 7 clinical trial sites in India. [ClinicalTrials.gov Identifier: NCT05981040]. It is planned to present this Phase 2(a) trial data in upcoming medical conference and publish in medical journal. Zydus has recently received approval from USFDA to initiate a randomised, double blind, placebo- controlled Phase 2(b) clinical trial for Usnoflast in patients with Amyotrophic Lateral Sclerosis (ALS).
Tata Technologies Crowns InnoVent 2024 Winners and Provides Career Prospects to All Finalists
Bengaluru, January 23, 2025:
Tata Technologies, a global product engineering and digital services company, announced the successful conclusion of the 2nd edition of the Tata Technologies InnoVent hackathon. Focused on leveraging Generative AI, this hackathon, supported by Microsoft and Tata Motors, provided young engineering students across India with a platform to tackle real-world challenges in the manufacturing sector. This initiative marks a significant milestone in the Company’s engagement with the academic community, fostering innovation and creativity among young engineering talents across India, thereby helping to engineer better careers for the youth. The top ten teams participated in the Demo Day at Tata Technologies headquarters in Hinjawadi, Pune, where they presented their innovative prototypes and impressed the audience. The final evaluations were conducted by an eminent jury comprising Mr. Warren Harris, CEO & MD of Tata Technologies, Mr. Sven Patuschka, Chief Technology Officer, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd., Mr. Pravin Panchagnula, Executive Director – Manufacturing & Conglomerates, Microsoft and Professor Sunil Bhirud, Vice Chancellor – COEP Technological University, Pune. The jury were guided by Mr. Ravi Arora, Senior Vice President, Group Innovation at Tata Sons.
The winning team, CodeZephyr, from Chandigarh University, Mohali, was felicitated with a cash prize of INR 300,000 for their project Sustainable material integration for engineering excellence. Spaingit Coder, from Thapar Institute of Engineering and Technology Patiala, received a cash prize of INR 100,000 for their AI-driven noise cancellation for safer in-car experience and secured the second prize. The third prize of INR 50,000 was awarded to Pluto, from Sri Krishna College of Engineering and Technology, Coimbatore for their innovation Generative AI for next-gen interactive customer support. A special jury recognition was awarded to HaxS, from Manipal University Jaipur for their AI-driven defect analysis solution for automotive manufacturing. In recognition of their talent and innovation, Tata Technologies offered 39 team members from the top 10 teams an opportunity to start their careers with the Company after they complete their engineering, along with a paid internship opportunity to continue scaling their projects.
Speaking at the Tata Technologies InnoVent Demo Day felicitation ceremony, Mr. Warren Harris, CEO & MD of Tata Technologies stated, “Tata Technologies vision of Engineering a better world embodies our commitment to innovating smart and sustainable eMobility solutions by collaborating with our entire ecosystem, including academia. Through our collaboration with Microsoft and Tata Motors, we identified real-world challenges that students could solve by developing novel solutions leveraging Generative AI. I am inspired by the way innovators have applied ingenious, frugal solutions to these issues, blending the finest of human creativity with next-gen technology. We will support the top team/s in scaling their projects further.
Mr. Sven Patuschka, Chief Technology Officer, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd, expressed his enthusiasm at the end of the InnoVent Demo Day: “I am thrilled by the emerging application of Gen AI across the automotive value chain. The ingenuity shown by the young innovators at Demo Day has been incredibly inspiring. Along with Tata Technologies, I look forward to supporting some of these projects for real-world applications.
Mr. Pravin Panchagnula, Executive Director – Manufacturing & Conglomerates, Microsoft said, “Together with Tata Technologies, we are committed to empowering our engineering talent to lead AI-driven transformation in the industry. At Microsoft, we value creativity, collaboration, and continuous learning. Witnessing young innovators at the InnoVent hackathon unlock the potential of Generative AI and Microsoft Azure’s supportive ecosystem to create impactful solutions for the manufacturing sector is truly inspiring.”
Highlighting the importance of creating a culture of innovation amongst young engineering students, Mr. Santosh Singh, President and Global Head of Marketing and Business Excellence at Tata Technologies, added, “The students of today will innovate the solutions that address challenges of today and tomorrow. At Tata Technologies, we are committed to fostering a culture of innovation and equipping young minds with future-ready skills like Gen AI to help them build their careers and engineer a software-defined future. The enthusiasm and creativity displayed by these young innovators exceeded our expectations and reinforced our belief in the power of innovation in engineering a better world for everyone. We are delighted that we were able to offer job opportunities to all the finalists and grow the tribe of Gen AI enthusiasts across India.
Tata Technologies extends heartfelt congratulations to the winning teams and gratitude to all the participants for their remarkable Gen AI innovations that made the 2nd edition of Tata Technologies InnoVent hackathon a resounding success. More details of the InnoVent program are available here. The InnoVent recognition ceremony can be watched here.
Canon India Launches 7 New Large Format Printers
India, 23nd January 2025 – Canon India, a leader in digital imaging solutions, today announced the launch of the new imagePROGRAF TZ-5320 and TX Series (TX-5420/5320/5220), which offer a range of single function and multi-function1 large format printers to cater to diverse printing needs. The imagePROGRAF TZ-5320 outputs large volumes of drawings at high speed to meet high productivity needs in the construction, design, manufacturing and output industries. The TX series covers a wide range of printing needs, including drawings, posters and bulletin boards.
Speaking on the launch, Mr. Toshiaki Nomura, President & CEO, Canon India said, “With the printing industry in India witnessing rapid transformation driven by evolving customer needs, Canon remains steadfast in its mission to introduce pioneering solutions that meet the dynamic demands of the market and customers. Our latest imagePROGRAF TZ and TX series reflects this commitment, offering enhanced speed, precision, and versatility. These advanced printers are designed to empower professionals in graphic arts, architecture, and engineering by enabling large-volume, high-quality output with remarkable ease. We believe these innovations will further strengthen the creative ecosystem in India by unlocking new avenues for growth and expression.”
Thanks to enhanced productivity and improved poster quality with vivid colours, the new printers are ideal for the CAD industries, corporate and government sectors, and areas of the output industry like in-house production of corporate materials can be elevated.
Sharing his thoughts on the new lineup, Mr. C Sukumaran, Senior Director, Products & Communication, Canon India said, “The launch of the new imagePROGRAF TZ and TX series highlights Canon’s continuous efforts to combine advanced technology with environmental responsibility. Equipped with enhanced magenta ink and automatic ink sensing, these printers deliver improved colour vibrancy, sharpness, and reduced downtime—key to meeting the growing demands of professionals for precision and productivity. Additionally, features such as reduced energy consumption and eco-conscious packaging underscore our commitment to sustainability, ensuring that our products not only offer best-in-class performance but also contribute positively to the environment.”
Coca-Cola India Appoints Vice-President for Enhanced Customer & Commercial Leadership
India, 23 January 2025: A person smiling at the camera Description automatically generated – Coca-Cola India Southwest Asia (INSWA) Operating Unit today announced Desmond Nikhil D’Souza as Customer & Commercial Leadership (C&CL), effective February 1, 2025. He succeeds Greishma Singh, who recently transitioned to the role of Vice President, Marketing.
“With a distinguished track record of strategic vision and exemplary leadership in the FMCG industry, Desmond brings a wealth of experience and innovative ideas that align perfectly with our mission to drive customer satisfaction and commercial excellence,” said Sanket Ray, President, Coca-Cola India Southwest Asia. “His understanding of market dynamics and customer engagement, will be a cornerstone in achieving our growth objectives.”
In his new role, Desmond will be responsible for leading the C&CL function across INSWA, focusing on driving value growth, strengthening our customer partnerships, and aligning strategies to deliver long-term commercial transformation.
Desmond joins Coca-Cola from Mondelez, where he served as Vice President, Sales. Under his leadership Mondelez India grew significantly through footprint expansion, driving digital innovation in sales, and incubating and building new commercial capabilities to drive growth. Before his tenure at Mondelez, Desmond held key roles at PepsiCo, both in transformation initiatives and sales leadership. At Zomato, he contributed to customer subscription strategy, showcasing his ability to operate across diverse sectors and functions.
Desmond holds a postgraduate management degree from XLRI Jamshedpur and a bachelor’s degree in engineering (BE) from Visvesvaraya Technological University (VTU).