Category: Business & Economy

NATIONAL: KARNATAKA: HORTICULTURE & AGRICULTURE: Innovation on display at National Horticulture Fair (NHF) 2024 in IIHR

From seeds of different varieties of fruit, flower and vegetable plants to advanced technological advancements, are available at the 250 stalls put up at the fair.

For any horticulture enthusiasts in Bengaluru, from home gardeners to orchard owners, National Horticulture Fair (NHF) organised at Indian Council of Agricultural Research (ICAR) – Indian Institute of Horticultural Research (IIHR) between March 5 and March 7 is the place to be.

From seeds of different varieties of fruit, flower and vegetable plants to advanced technological advancements, are available at the 250 stalls put up at the fair.

Innovative products like purple coloured ladies finger, dragon fruit juice, ready-to-eat jackfruit curry, millet health bars and jackfruit it seed and mushroom powder cookies are also available at the fair.

More than 30 agricultural institutes from 18 States are taking part in the fair. “Our Krishi Vigyan Kendra (KVK) brought us to this fair. I had never been to an agricultural fair on such a large scale. I have spent more than half day just going through the stall here,” said Pradeep, a farmer from Sira taluk in Tumakuru who was at NHF on the inaugural day.

Arka Mealy Melt, which works against mealy bugs, which are soft oval insects which affect crops in even kitchen gardens, home gardens, landscapes and indoor gardens, is also among the new products developed by IIHR using technology. The product will help dissolve the mealy bug wax due to which hinders the penetration of insecticides to work against the bugs.

On the first day of NHF, around 20,000 people were in attendance while on the second day, around 25,000 people thronged the IIHR premises.

source/content: thehindu.com (headline edited)

INTERNATIONAL: NATIONAL / KARNATAKA: Global Business Forum to make its debut in Karnataka, to be held in Bengaluru, March 03-06

The event, set to be held from March 3 to 6, is being hosted by the World Trade Centres Association and World Trade Centre Bengaluru.

The 54th Global Business Forum (GBF), the annual event conducted by World Trade Centres Association (WTCA), will be held in Bengaluru from March 3 to 6. The event which is making its debut in Karnataka is being hosted by WTCA and World Trade Centre Bengaluru.

This will also be the first time that the event, formerly called the ‘General Assembly’ is happening in India after its rebranding.

GBF will bring together WTCA members and their global networks. The organisation connects more than 300 world trade centre locations in nearly 100 countries. The confirmed participants include more than 80 business from 30 countries/territories.

“This year’s GBF will not only showcase India, specifically Karnataka, as a rising investment destination of the world, but also serve to strengthen relationships between industry leaders,” said Vineet Verma, managing director of World Trade Center Bengaluru, Chennai and Kochi; and newly-appointed WTCA board member.

“This will be an invaluable opportunity to interact with leading innovators and invest in India’s growing economy — backed by our dynamic and skilled workforce.” 

The Forum aims to facilitate business relationships and will focus on investment opportunities in Karnataka across 12 diverse industry sectors.

These include agriculture & food processing, automotive, aviation & aerospace, biotech, education, heavy engineering, IT, ITeS & Electronics, manufacturing, real estate & construction, tech start ups, textile & garments, and travel & tourism.

In partnership with the Bangalore Chamber of Industry and Commerce (BCIC), the event will offer onsite B2B matchmaking services, connecting international delegates with business opportunities in Karnataka.

“India is experiencing rapid economic growth, coupled with a surging demand for commercial infrastructure and global business connectivity. As a result, our network has grown phenomenally in the country during the past decade. Today, we have our second largest membership cluster here with 40 Members representing most of India’s major cities and contributing to India’s sustainable development,” said John E. Drew, chair, WTCA board of directors.

“Bengaluru’s entrepreneurial spirit makes it an ideal setting for fostering synergies and exploring lucrative business opportunities in one of the world’s most promising economic regions.”  

source/content: thehindu.com (headline edited)

NATIONAL: KARNATAKA: SPORTS – FIRST: Karnataka govt launches ‘India’s First ever International Stand up-Paddling (SUP) event’, Mar 08-10 Mangaluru

The Government of Karnataka officially launched India’s first-ever International Stand-Up Paddling event here. 

The announcement was made in the presence of UT Khader, Speaker of the Karnataka Legislative Assembly, Dinesh Gundu Rao, Minister of Health and District In-Charge Minister of Dakshina Kannada, Govt of Karnataka, and Dhananjaya Shetty, Chairman, Surfing Swami Foundation.

Additionally, the occasion featured the unveiling of the India Paddle Festival logo.

The three-day SUP championship is scheduled to take place at Sasihithlu Beach from March 8-10, 2024, preceding the launch of the 2024 APP World Tour.

Speaking on the occasion, UT Khader said, “We need more of these events in Dakshina Kannada to highlight the beauty of our coastline, culture and cuisine. We are excited to host the inaugural India Paddle Festival in Mangaluru.”

Meanwhile, Dhananjaya Shetty said, “On behalf of the surfing community, I would like to express my gratitude towards the Government of Karnataka for stepping up and supporting us to host the country’s first-ever International Stand-Up Paddling event. We take pride and immense pleasure in hosting the event on such a grand scale, and we will leave no stone unturned to make this event a grand success.”

source/content: daijiworld.com (headline edited)

INTERNATIONAL / KARNATAKA : MANUFACTURING & AVIATION : MAKE IN INDIA : Airbus contracts Bengaluru based Dynamatic Technologies to make doors for A220 aircraft

Will double sourcing from India from a value of $750 mn to $1.5 bn.

French aerospace manufacturer Airbus on Thursday announced the awarding of a contract for the manufacturing and assembly of its A220 aircraft doors to Bengaluru-based Dynamatic Technologies in what it called “one of the largest aerospace export contracts to India.”

Dynamatic will manufacture and assemble the cargo, passenger and service doors along with the over-wing emergency exit doors for the A220 family aircraft, which total to eight doors per aircraft.

The order signifies implementation of “complex assembling and integration of aerospace manufacturing, which will create downstream opportunities in the Indian aviation supply chain,” Airbus CEO Remi Maillard, President and Managing Director, Airbus India and South Asia said at a press event.

Thursday’s contract is also among the orders that will enable Airbus to double its sourcing from India, which is valued at about $750 million every year. This is expected to rise to $1.5 billion over the next few years.

To a question on when Airbus plans a final assembly line for commercial aircraft given large orders from IndiGo and Air India, Mr. Maillard said Airbus provided more jobs and more value for India today than any Final Assembly Line (FAL) will achieve.

According to Dynamatic’s Udayant Malhoutra only 15% of value generated from manufacturing an aircraft comes from a FAL.

Airbus recently announced a FAL for H125 helicopter for the private sector and in 2022 announced a FAL for C-295 transport aircraft for the Indian Air Force.

source/content: thehindu.com (headline edited)

KARNATAKA: ELECTRIC SCOOTERS: Bengaluru-based EV start-up, River, raises $40 Million in oversubscribed Series B round

The deal was led by Yamaha Motor Co. Ltd. Existing investors Al Futtaim Group, Lowercarbon Capital, Toyota Ventures and Maniv Mobility also participated in the round.

River, a Bengaluru-based start-up building multi-utility electric scooters, has announced a $40 million (335 INR Crores) Series B led by Yamaha Motor Co., Ltd. The round also saw participation from existing investors Al-Futtaim Automotive, Lowercarbon Capital, Toyota Ventures and Maniv Mobility.

This round takes the cumulative fund raised by the company to $68 Million (565 INR Crores) since its inception in March 2021. With this funding, the company plans to scale the distribution and service network across the country and invest further in R&D for future lineup of products.

“We are impressed by the progress that River has achieved in such a short span of time, especially with the strong focus on design and technology. We are excited about the conviction that Aravind and Vipin have for River and how Yamaha can support the company to achieve this”,said Hajime “Jim” Aota, Chief General Manager of New Business Development Centre, Yamaha Motor Co., Ltd.

River started selling its first product Indie, the SUV of scooters in October 2023. Indie was fully designed and developed at the River R&D facility in Bengaluru and manufactured in the River Factory at Hoskote in the outskirts of Bengaluru. The first River store opened in Bangalore in January 2024.

“It’s been a pleasure to watch River grow since our first investment in 2023. Indie made a strong debut in the Indian market and stands out from anything that is out there. We also see strong potential for Indie in many international markets. We are excited about the next phase of growth for River both inside and outside India”, said Paul Willis, CEO of Al-Futtaim Automotive.

River is the first Indian investment of all its investors – Tel Aviv based Maniv Mobility, San Francisco based Trucks VC, Lowercarbon Capital, Toyota Ventures and Dubai based conglomerate Al-Futtaim Automotive.

“The investment is a significant boost for our plan to build a Billion-dollar global utility-lifestyle brand by 2030. We have built a great base in R&D and manufacturing over the last two years and now, it’s time to grow,” said Aravind Mani, Co-founder and CEO of River.

“The collaboration with Yamaha will help us leverage the design and technology capability that we have built at River,”said Vipin George, Co-founder and Chief Product Officer at River. “I learned to ride on a Yamaha motorcycle and have been amazed by the highest levels of performance that they stand for. And now, Yamaha investing in River is quite a surreal feeling. I’m excited about what the partnership can achieve,” he added.

River started selling its units in October 2023 and close to 200 vehicles have been sold till January 2024. The company which plans to expand its presence to 10 cities including in the next six months and 100 cities in the next two years, has seen a valuation increase of 15-20x in the last 2.5 years.

According to a release from the company the start-up plans to launch one more product by 2026.

source/content: thehindu.com (headline edited)

KARNATAKA: BUSINESS SUCCESS: AGRICULTURE to RESTAURANTS: From Software Coding to Culinary Success: The success story of Mallikarjun Hatti, an Engineer’s Farm-to-Plate idea in a hotel the ‘Siridhanya Hallimane’, Vijayapura

We have come across many instances of highly-paid engineers leaving their jobs in foreign countries and coming back to India to start their own businesses. While not many succeed in their endeavour, some like Mallikarjun Hatti from Vijayapura in Karnataka do.

Mallikarjun used to work as a software engineer in the United States and used to earn Rs 3.5 lakh per month. His yearly income was nearly half a crore Rupees! Yet he chose to return to his motherland to start something of his own. When he came back to India, his neighbours and friends laughed at him and his ideas.

Mallikarjun’s family was also tense because a sudden change in the domain could cause a lack of funds. He joined the US-based software company in 2008 and returned to India in 2013 after resigning from the company. In 2018, he started farming. He grew cereals and millet on his farmland. Later, he decided to start his own business by selling millet and cereals. 

Startup based on a Farm-to-Plate theme

Mallikarjun had many ideas regarding his startup. He selected the Farm-to-Plate theme, in which he decided to sell cereals as food to the people. Initially, people did not give heed to his ideas and startup. After a few days, he initiated another idea to start a hotel based on the millet he grew and serve only cereal and millet-based food items.

The hotel surged in business during the Covid pandemic. The season that impacted many people, turned out to be good fortune for Mallikarjun. He provided the best quality food items, which people appreciated. The health benefits of the millet are many. During the pandemic, there was an urge among people to eat healthy food. 

His hotel, ‘Siridhanya Hallimane’ became very famous in the locality. His efforts finally started to pay out during the pandemic, as the people who did not pay any heed to him initially, started to turn towards a healthy lifestyle when the pandemic hit them hard.

He started the hotel ‘Siridhanya Hallimane’ at Golagumbaz Road in Vijayapura. He prepares the food with the 9 variants of millets he grows on his own farmland. Government officials, travellers and other customers are regular to the hotel. Everyone wants a healthy alternative to the foods they consume every day. 

Mallikarjun does not add any kind of chemical or tasty ingredients to his food and believes in serving the food naturally. Snacks and lunch are prepared in the hotel with arka, Udalu, Navane and other millets. People suffering from BP and diabetes come here and enjoy nutritious food.

Earning 7.5 lakh per month!

Mallikarjun used to earn Rs 3.5 lakh per month while he was in the US. His decision to leave the high-paying job was very challenging in the initial days. Due to his visionary startup ideas, the hotel ‘Siridhanya Hallimane’ is today very popular. People from far and wide travel to Vijayapura to visit his hotel and enjoy the food. 

There are currently 20 workers at the hotel and Mallikarjun earns Rs 7.5 lakh per month, through the business. He has also started a food processing unit and wants to extend his hotel as a franchise to other cities as well.

source/content: newsable.asianetnews.com (headline edited) / Asianet Newsable

NATIONAL: KARNATAKA – INDIA’s FIRST: Mangalore Refinery & Petrochemicals Ltd ( MRPL), becomes India’s First AS 9100: D Certified Refinery

Mangalore Refinery and Petrochemicals Ltd (MRPL) has been certified with AS9100:D standard prepared by International Aerospace Quality Group (IAQG) to assure customer satisfaction in aviation, space and defence organisations, under the scope of “production, storage, testing and distribution of aviation turbine fuel”.

MRPL is India’s first refinery to get this new aerospace standard. The aerospace industry demands the utmost precision, reliability, and safety in its supply chain. As a certified organization, MRPL is now well-positioned to serve as a trusted partner to aerospace companies within India and globally.

The standard ensures the interaction and configuration of various processes, from sourcing raw materials to the final product certification.

The certification process involves a stage audit of the entire life cycle of ATF, involving production criticalities like the addition of qualified additives and catalysts, standardisation of production processes, transfer through a dedicated pipeline network, ensuring fuel devoid of foreign object detection (FOD) in storage tanks, followed by certification and distribution to customers.

MRPL’s newly acquired certification is expected to give it leverage to expand its presence in the aerospace sector.

source/content: daijiworld.com (headline edited)

INTERNATIONAL: REGIONAL: KARNATAKA: Asia Pacific conclave on Engineering Healthcare held in Mysuru, Jan 29-31

A three-day Asia Pacific conclave on Engineering Healthcare was held in Mysuru to discuss the next generation biomaterial having potential applications for cancer therapeutics, precision drug delivery, and bone replacement.

The conference organised by American Chemical Society (ACS) from January 29 to 31 brought together leading researchers from across the globe in the interdisciplinary field of bioengineering.

“The next generation biomaterials such as artificial cells, bones, and biomimetic materials, which have potential applications for cancer therapeutics, precision drug delivery, and bone replacement were showcased at the conclave held in Mysuru,” said a statement here from the organizers.

During the conclave, topics on polymer science, tissue engineering, 3D printing, drug delivery, electronic sensors, organic materials, and immunotherapy were also discussed.

The objective of the conclave, which is the first of its kind in the country, is to bring together the emerging and distinguished group of researchers under the same roof for the exchange of scientific expertise and foster potential collaborations to development of new biomedical products for the benefit of society, the statement said.

Sébastien Lecommandoux from France, who participated in the conclave, delved into the field of biomimetics and presented synthetic strategies for designing materials made from natural resources that can contribute towards advances in nanomedicine, biomaterials and artificial cells for biomedical applications such as detecting and healing diseases.

Bikramjit Basu from Indian Institute of Science, Bengaluru, shared details of India’s National Medical Devices Policy, 2023, and said there was a huge multi-billion-dollar market potential for biomaterials in India. He and his team have developed new biomaterials for bone replacement and dental implants, said the statement.

Siddarth Jhunjhunwala and Kaushik Chatterjee from Indian Institute of Science, Bengaluru, too emphasized that bioengineering had enormous potential for improvement of health care.

The conclave not only highlighted some of the emerging technologies that were likely to find wide clinical use, but also enabled doctoral students and early career researchers to discuss their work with global experts in person, the statement added.

Rajesh Parishwad from ACS said the Society was bringing global programs to India and the region. “Our aim is to promote broader engagement in the area of health care engineering,” he said.

source/content: thehindu.com (headline edited)

KARNATAKA: AI in MEDICINE: Siemens Healthineers opens Precision Medicine Lab at IISc

Siemens Healthineers and IISc inaugurated the Siemens Healthineers-Computational Data Sciences (CDS) Collaborative Laboratory for AI in Precision Medicine at IISc campus in the city.

The laboratory would develop open-source AI-based tools to precisely automate the segmentation of pathological findings in neuroimaging data, with a focus on accurately diagnosing neurological diseases and analysing their clinical impact at a population level, said Peter Schardt, Chief Technology Officer, Siemens Healthineers while inaugurating the lab.

The focus of this collaborative laboratory would be to work closely with neurologists, radiologists and Siemens Healthineers and integrate the developed computational models into their regular clinical workflows, the company said.

Mr. Schardt said, “The collaboration with IISc solidifies our commitment to advancing precision medicine through AI using state-of-the-art, data-driven deep-learning techniques. Leveraging IISc’s academic excellence and our strong core in medical imaging, smart solutions developed through this collaboration will help us ultimately save lives through precise diagnoses and evidence-based treatments”.

Govindan Rangarajan, Director, Indian Institute of Science, said, “This lab marks a crucial step forward in unlocking the potential of AI for precision medicine.”

India was one of the four global innovation hubs for Siemens Healthineers, and the company was committed to being catalysts in interdisciplinary research, stated Dileep Mangsuli, Executive Director, Siemens Healthineers.

“Along with IISc, we aim to reshape the landscape of neuroscientific progress through the capabilities of artificial intelligence, translating laboratory insights into intelligent solutions. We want to empower the broader clinical research community and be changemakers in the fight against world’s most life-threatening diseases,” Mr. Mangsuli added.

source/content: thehindu.com (headline edited)

REGIONAL: KARNATAKA: TRAVEL & TOURISM: Bengaluru to function as Hub of Thomas Cook’s Charter Operations for South India

The travel firm’s maiden air charter service will be between Bengaluru and Bhutanese Capital Thimphu, a three-hour flight, starting in April 2024.

Thomas Cook (India) Limited, an omnichannel travel services company, has forayed into charter services to cater to the growing interest among customers in South India for holiday destinations in South Asian and European countries.

Bengaluru will function as the hub of Thomas Cook’s charter operations for South India and leisure/holidays tourists from across the region would be able to board the charter flights departing from the city, Romil Pant, executive vice-president & Business Head (Holidays), Thomas Cook, told The Hindu on Wednesday.

The travel firm’s maiden air charter service will be between Bengaluru and Bhutanese Capital Thimphu, a three-hour flight, starting in April 2024.

“We will hire a 126-seater airplane from Bhutan Airlines and will operate five charter flights every eight days starting from April 27. This is the first time we are entering into the chartering space and we may extend this service to connect other neighbouring countries, including Nepal and Sri Lanka and also some European destinations,” Mr Pant said.

Commenting on the rationale of starting the charter service from Bengaluru, he said Karnataka and Bengaluru were the company’s biggest markets in the country. For instance, the southern region solely contributed 45% of Thomas Cook’s total business in the country.

Currently, there is no direct flight to Bhutan from the southern region, only Delhi and Kolkata offer direct flights and land travel also takes a lot of time.

“South India is the largest contributor to the holidays business for us, overtaking the West and North India. Bengaluru and Karnatka has emerged as our number 1 source market for the leisure segment. Huge demand is coming from small cities including Mysuru, Udupi, and Hubballi too,” he added.

Commenting on travel trends in Bengaluru, Mr. Pant said the travel firm had witnessed a 60% increase in demand this year compared to 2019, the travel spend also increased by up to 30%, and average holiday duration has increased to seven days from three days compared to 2019 levels. The most favourite destinations for Bengalureans have been Europe, Australia, New Zealand, Japan, Korea, Indonesia, Mauritius, Singapore, Dubai, Vietnam, Azerbaijan, and Georgia while Andamans, Kashmir, North-East, Rajasthan, Kerala, Coorg, Chickmagaluru, Kabini, and Ooty are their favourite domestic getaways.

“We are very bullish on Bengaluru and Karnataka and we are investing deeply in this high potential market and are expanding our footprint here. We expect to see a business uptick of 30% from Karnataka in 2024,” Mr. Pant added.

source/content: thehindu.com (headline edited)