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L&T Semiconductor Technologies Partners with C-DAC: A Game-Changer for Global Tech Solutions

L&T Semiconductor Technologies

MUMBAI: L&T Semiconductor Technologies (LTSCT), a pioneer in indigenous semiconductor design & development, has signed a Memorandum of Understanding (MoU) with the Centre for Development of Advanced Computing (C-DAC), an autonomous scientific entity under the Ministry of Electronics and Information Technology (MeiTY), Government of India.

The strategic collaboration is to drive indigenization efforts and harness the collective expertise of both organizations to accelerate innovation and technological advancements in areas of mutual interest.

The MoU delineates a comprehensive framework for collaborative research, development, and training initiatives, with an emphasis on the creation of Make-in-India Integrated Circuit (IC) / System-on-Chip (SoC) and Electronics System Design & Manufacturing (ESDM) solutions for automotive, industrial, and energy applications.

The opportunities to strengthen India’s economic foundation through indigenous semiconductor design & development are immense, particularly by reducing reliance on electronic imports from abroad. The collaborative efforts in developing specialized semiconductor technologies will be pivotal in advancing Indian processor cores, Intellectual Properties, and SoCs – the most cost-intensive components within the semiconductor value chain.

Congratulating both the organizations, Dr Sunita Verma, Group Coordinator, (R&D E&IT) from the Ministry of Electronics and Information Technology (MeiTY), said: “The signing of this MoU between L&T Semiconductor Technologies and C-DAC indicates the Government’s commitment to fostering public-private partnerships that drive innovation and economic growth. This collaboration not only underscores the importance of indigenization in the semiconductor sector but also paves the way for India to take a leadership role on the global stage. We look forward to the transformative impact that this partnership will have on the nation’s technological landscape.”

Speaking on the occasion Sandeep Kumar, Chief Executive – of LTSCT, said: “This collaboration, led by LTSCT, will create a powerful commercialisation program for advanced technologies created by C-DAC in semiconductor design & development, embedded software, open-source OS, HPC and power systems. C-DAC’s deep pipeline of indigenous IPs, including the VEGA processor, application design, and FPGA validation will be turned into global product opportunities by LTSCT. The joint efforts are anticipated to yield innovative products and solutions that will benefit diverse sectors of the Indian economy while significantly enhancing the nation’s technological capabilities and positioning India as a leader in each of the sectors.”

Magesh E, Director General – C-DAC, highlighted that the collaboration will significantly boost the semiconductor industry and strengthen the Digital India RISC-V (DIR-V) ecosystem. “The partnership in developing Vega-based indigenous ICs and SoCs is set to accelerate the vision of Atma Nirbhar Bharat by enabling the development of cutting-edge products and solutions for automotive, industrial, ICT infrastructure, and the energy sectors. With a shared vision and the capability to deliver world-class solutions, this collaboration is expected to break new ground in semiconductor and related domains,” he said.

Both LTSCT and C-DAC have expressed unwavering enthusiasm for the potential outcomes of this collaboration and reaffirm their commitment to working in concert to achieve a shared vision in meeting the country’s dreams. LTSCT is committed to being a trusted partner to the Government of India, playing a crucial role in realizing the vision of technological self-reliance on the global stage.

August 28, 2024
Sensex trades flat on negative global cues from Asian peers
- Indian equity market began trading flat on August 28, 2024, with Sensex and Nifty experiencing a slight dip.
- Despite the dip, the market trend remained positive with a noticeable buying trend in midcaps and smallcaps.
- Sector-wise, Auto, IT, Pharma, FMCG, Media, Energy, and Infrastructure were the major gainers, while Financial Services, Metal, and Private Banks lagged.
- The market is showing resilience despite negative global cues, with FIIs shifting from sellers to buyers, indicating a healthy market.
The Indian equity market began trading flat on August 28, 2024, influenced by negative cues from Asian peers. At 9.40 a.m., the Sensex was down by 45 points or 0.05% at 81,667, and the Niftywas down by 21 points or 0.10% at 24,996. Despite the slight dip, the market trend remained positive, with 1,470 shares in the green and 620 shares in the red on the National Stock Exchange (NSE).

The Nifty’s all-time high is 25,078, indicating that the market is not far off from its peak performance. Interestingly, there was a noticeable buying trend in midcaps and smallcaps compared to largecaps. The Nifty Midcap 100 index was up by 108 points or 0.18% at 59,316, and the Nifty Smallcap 100 index was up by 93 points at 19,426.

Sectoral Performance and Major Gainers and Losers

Sector-wise, Auto, IT, Pharma, FMCG, Media, Energy, and Infrastructure were the major gainers. In contrast, Financial Services, Metal, and Private Banks were the major laggards. In the Sensex pack, M&M, Tata Motors, Power Grid, Sun Pharma, Titan, Wipro, Reliance, ITC, UltraTech Cement, Bharti Airtel, ITC, and HDFC Bank were the top gainers. On the other hand, Tata Steel, Bajaj Finserv, Maruti Suzuki, TCS, HCL Tech, and ICICI Bank were the top losers.

Most Asian markets were trading in the red, with Tokyo, Shanghai, Seoul, and Hong Kong being the major losers. However, the US market closed with marginal gains on Tuesday. Market experts suggest that the market has entered a consolidation phase with low volatility, and this trend is likely to continue in the near term. Falling bond yields in the US have restrained Foreign Institutional Investors (FIIs) from selling and have even turned them into marginal buyers.

Historical Trends and Market Predictions

This trend is not new and has been observed in the past as well. For instance, during the 2008 financial crisis, falling bond yields in the US led to a similar trend where FIIs turned into buyers in emerging markets like India. This trend is likely to keep the market within a range with a slight upward bias, which is a desirable and healthy trend, given the elevated valuations in the market.

On August 27, FIIs extended their buying as they bought equities worth Rs 1,503.76 crore. However, Domestic Institutional Investors (DIIs) sold equities worth Rs 604.08 crore on the same day. This trend of DIIs selling when FIIs continue to buy has been observed in the past as well. It is a balancing act that keeps the market within a range and prevents it from overheating.

As the Indian equity market is showing resilience despite negative global cues, the buying trend in midcaps and smallcaps, the positive market trend are vivid despite a slight dip in the Sensex and Nifty, and the shift of FIIs from sellers to buyers all point towards a healthy market.
August 28, 2024
Saudi Arabia to Convene Global Mineral Sector at Fourth Future Minerals Forum in January 2025
Riyadh, Saudi Arabia, August 27, 2024—Under the Patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, Saudi Arabia is set to host the fourth edition of the world’s leading platform on minerals, the Future Minerals Forum (FMF), from January 14 – 16, 2025, at the King Abdulaziz International Conference Center in Riyadh, Saudi Arabia.

The FMF, convened by Saudi Arabia’s Ministry of Industry and Mineral Resources, is a unique government-led platform and an inclusive multi-stakeholder conference where the world’s top decision-makers come together to drive action on tough challenges, where minerals are placed at the top of the global agenda as key to development, global prosperity, and the energy transition.

Since 2022, FMF has focused on fostering collaboration amongst minerals-producing nations, promoting sustainability initiatives to build trust, and creating a resilient supply chain of critical minerals that the world needs. Building on these successes, FMF 2025 will focus on “Delivering Impact,” the theme of the fourth edition.

The Minister of Industry and Mineral Resources, His Excellency Mr. Bandar Alkhorayef, disclosed that next year’s FMF is focused on creating and driving investment opportunities in the mining and mineral sector.

Alkhorayef stated that FMF has become a prominent global forum for all stakeholders in the mineral sector, from governments to mining companies, financial institutions, service companies, research centers, and academic institutions.

He further pointed out that the conference provides a platform to discuss the challenges facing the mining and minerals sector, with opportunities to proffer concrete solutions at the regional and international levels to tackle these challenges.

“The upcoming Ministerial Roundtable will engage participation from 100 countries. This extensive collaboration will include working groups comprising government bodies and 40 organizations, including international organizations, NGOs and trade associations. These groups will collaborate to implement the initiatives and strategies established during the last MRT, driving forward the shared goals of sustainable development and innovation in the global mineral sector,” the minister added.

FMF will kick off on January 14, 2025, with the government-led Ministerial Roundtable, and will be followed by the Conference and Exhibition (15-16 of January), where participants will be privileged to learn from experts who will take turns speaking on important topics. The conference will also feature exhibitions of the latest mineral innovations and applications.

The program this year will focus on:
- New voices on critical minerals, highlighting downstream perspectives and new regional perspectives, including the Super Region spanning Africa, Western and Central Asia, and Latin America.
- Delivering investment partnerships in supplier countries that will include the entire mineral value chain.
- Minerals’ contribution to society.
- Green technology and AI revolution.
- Country and project showcase.
While preparations are in top gear for FMF 2025, some notable figures in the mining, mineral and industrial sectors have already been confirmed to speak at the forum. They include Tom Palmer, CEO of Newmont Corporation; Jonathan Price, President and CEO of Teck Resources; Dominic Barton, Chairman of Rio Tinto; Mark Cutifani Chairman of Vale Base Metals; Robert Friedland, Founder and Co-CEO of Ivanhoe Mines; Bob Wilt, CEO of Ma’aden; Jeremy Weir, Chairman and CEO of Trafigura; and Duncan Wanblad, CEO of Anglo American among other distinguished personalities.

Since its inception in 2022, the FMF has charted many progressive initiatives, such as being a voice for the Super Region and other supplier countries. In 2023, the Ministerial Roundtable participants agreed to collaborate on four initiatives, including:
- Development of a regional critical minerals framework to promote global collaboration and maximize the creation of value in supplier countries.
- Creation of green metals hubs in the Super Region enabled by new technologies and powered by renewable energy.
- Development of a framework setting our regional expectations for the responsible production of minerals based on transparency of supply chains.
- Creation of centers of excellence in the Super Region covering Africa, Western, and Central Asia as foundational pillars for capacity building across mineral value chains.
The third edition of FMF brought together over 14,000 participants from 133 countries, including ministers, senior government officials, leaders of international organizations, and C-level executives from global mining and mineral companies. The forum also saw the signing of 75 minerals deals worth around SAR 75 billion.

For more information and registration, please visit
Neel Achary
August 27, 2024
Sensex down, follows Asian markets awaiting positive global cues

Indian equity indices opened flat on Tuesday following mixed cues from the global market. At 9.40 a.m., Sensex was down 67 points or 0.08 per cent at 81,631 and Nifty was down 35 points or 0.14 per cent at 24,975.

Buying is seen in midcap and smallcap stocks compared to largecap stocks. The Nifty midcap 100 index is at 59,117, up 185 points or 0.32 per cent and the Nifty smallcap 100 index is at 19,183, up 51 points or 0.27 per cent.

Among the sectoral indices, IT, PSU Bank, pharma, FMCG, media and PSE are major gainers. Fin Service, auto, metal and realty are major laggards. The market trend remains positive. On the National Stock Exchange (NSE), 1,299 shares are in the green and 654 shares in the red.

In the Sensex pack, HCL Tech, L&T, Power Grid, Infosys, Nestle, UltraTech Cement, Sun Pharma, ITC, Titan, Bajaj Finserv and Wipro are the top gainers. Kotak Mahindra Bank, M&M, HDFC Bank and IndusInd Bank are the top losers.

Sensex downIANS

Almost all Asian markets (excluding Tokyo) are in decline. Shanghai, Hong Kong, Bangkok, Seoul and Jakarta are major losers. The US markets closed mixed on Monday.

According to market experts, “There are both headwinds and tailwinds for the market now. Headwinds are coming from the escalation of the geopolitical tensions in the Middle East and Ukraine. Brent crude has shot up above 81 dollars. The strongest tailwind comes from the expected rate cuts by the Fed which will spill over to other central banks, including the RBI.”

“The Indian economy now needs monetary stimulus through rate cuts and this is likely in the next policy meeting,” they added.

The foreign institutional investors (FIIs) extended their buying as they bought equities worth Rs 483 crore on August 26, while domestic institutional investors also bought equities worth Rs 1,870 crore on the same day.

(With inputs from IANS)

August 27, 2024
RBI Governor Offers UPI System for Global Adoption

IANS

India’s Reserve Bank of India (RBI) Governor, Shaktikanta Das, has offered the country’s Unified Payments Interface (UPI) system as a plug-and-play model for other nations. This announcement, made during the RBI@90 Global Conference held in Bengaluru, is aimed at facilitating quicker and more cost-effective cross-border remittances among the global community of nations.

The UPI system, a real-time payment system developed by the National Payments Corporation of India, has revolutionized domestic digital transactions in India. It enables multiple bank accounts to be operated through a single mobile application, merging several banking features, seamless fund routing, and merchant payments into one platform. The system’s success in India suggests its potential to enhance financial inclusion and efficiency worldwide.

Governor Das emphasized that the UPI system could evolve into a cheaper and quicker alternative to existing channels of cross-border remittances. He suggested starting with small-value personal remittances, which could be quickly implemented. He also highlighted that a solution that works well in India, a country known for its vastness and diversity, has the potential to be customized to the unique requirements of any other country.

The offer to share the UPI system with other countries is in line with India’s vision of global harmony and interoperability of payments. However, Governor Das acknowledged that a key challenge could be the fact that countries may prefer to design their own systems as per their domestic considerations. To overcome this, he proposed developing a plug-and-play system that allows replicability while also maintaining the sovereignty of respective countries.

The move to offer the UPI system to other countries aligns with the theme of India’s G20 presidency in 2023, ‘One Earth, One Family, One Future’. It underlines India’s thought process in seeing the world and itself as part of one family with a common future. The recurring agenda of importance across all multilateral settings, including the G20 and international standard-setting bodies like the Committee on Payments and Market Infrastructures (CPMI), has been to bring efficiency to cross-border payments.

The UPI system’s potential to transform international transactions is significant. By enabling easier cross-border remittances, it could reduce reliance on traditional, often expensive, money transfer services, benefiting millions of people who regularly send and receive money across international borders. Its adoption could also set a new standard for interoperability and digital financial infrastructure globally.

However, the implementation of interoperability would pose challenges and may involve certain trade-offs. Technical barriers may be surmounted by using common (international) technical standards. Further, the governance structure or management framework for long-term sustainability would also need to be finalized.

The move to share the UPI system globally is reminiscent of the Marshall Plan post-World War II, where European countries were required to unite to map out how to deploy U.S. assistance. This historical event marked a significant shift in global financial aid, emphasizing the importance of local ownership and decision-making in financial matters. Similarly, India’s offer to share its UPI system underscores the importance of local decision-making and control in financial transactions, potentially marking a new era in global financial transactions.

India’s offer to share its UPI system with other countries is a significant step towards global financial integration. It has the potential to revolutionize cross-border transactions, making them quicker, cheaper, and more efficient. However, the implementation of this system globally will require overcoming technical and governance challenges. With careful planning and collaboration, the UPI system could pave the way for a more interconnected and efficient global payment network, fostering economic ties and supporting the growth of digital economies worldwide.

August 26, 2024
India’s leading Fitness Equipment brand with a Global Presence in Qatar, Saudi Arabia, and UK

India, 2024:

PowerMax, India’s leading fitness equipment brand, has expanded globally to countries like Qatar, Saudi Arabia, the UK, and Dubai. Renowned for its unwavering commitment to innovation, PowerMax has come up with leading-edge fitness solutions that have transformed many homes and gyms. With a reputation built on quality, performance, and customer satisfaction, the brand is poised to redefine the global fitness landscape.

PowerMax has a strong foundation in India and has offered nothing but the best in terms of fitness to millions of gym enthusiasts. Keeping this successful story in mind, PowerMax is very well equipped and primed for entry into the global markets with its range of fitness equipment par excellence. However, the current global expansion plans that focus on key markets like Germany, Canada, the US, and Mexico are areas that have shown great development in the fitness industry, and PowerMax is ready to tackle these discerning customers. In addition to a physical store presence, PowerMax will further enhance its online reach by partnering strategically with Amazon, Noon and Carrefouruae.

This expansion marks another significant milestone for PowerMax. Through this partnership, a fitness enthusiast anywhere in the world can easily buy a PowerMax product from the comfort of his home. By sharing its excellence and passion for fitness globally, the brand aims to empower people worldwide to transform their bodies through exceptional exercise equipment.

“We are beyond thrilled for this new chapter that PowerMax is writing,” said Sanjay Goyal, Managing Director at PowerMax. “Entering global markets for us demonstrates not only the strength of our brand but, more importantly, our commitment to world-class fitness solutions. We have no doubt that our products will speak to fitness enthusiasts from around the world and that we shall continue to empower people in attaining their fitness goals.”

PowerMax is dedicated to the best customer experience and long-term relationships with people passionate about fitness. With its world-class equipment and exceptionally manifold customer support system, PowerMax empowers people all around the world to engage in physical fitness as a means to attain a much healthier lifestyle.

Neel Achary

August 26, 2024
Hyundai, Kia EVs receive top ratings in global crash tests

Seoul: Electric vehicle (EV) models produced by South Korea’s Hyundai Motor and Kia have received top ratings in major global car crash safety tests, the automakers said on Sunday.

According to the companies, five Hyundai and Kia EV models utilising the E-GMP, Hyundai Motor Group’s proprietary EV platform, achieved the highest rating of five stars in the European New Car Assessment Programme, reports Yonhap news agency. The models are the Genesis GV60, Hyundai’s Ioniq 5 and Ioniq 6, and Kia’s EV6 and EV9.

The same models also received top-tier ratings in crash evaluations conducted by the Insurance Institute for Highway Safety (IIHS) in the United States.

The GV60, Ioniq 5, Ioniq 6 and EV6 were awarded the prestigious Top Safety Pick (TSP) Plus rating, while the EV9 earned the Top Safety Pick rating, indicating high levels of safety.

In last year’s IIHS crash evaluations, 20 Hyundai Motor Group vehicles achieved TSP or higher ratings, marking the highest number among global automotive groups.

The recently launched Kia EV3, which also utilizes the E-GMP platform, has not yet undergone safety evaluations in Europe and the US.

“Hyundai Motor Group will continue to invest significant efforts in research and development to ensure the highest level of safety for passengers in all aspects,” a group official said.

Meanwhile, automotive companies in South Korea are pushing forward with their new electric vehicle launch schedules despite public concerns over EV safety, with key players actively campaigning to debunk unsubstantiated myths surrounding safe charging practices.

The latest fears surrounding EVs began after a spontaneous fire that began in a parked Mercedes-Benz EV wiped out an entire underground parking garage inside an apartment complex in Incheon, 27 kms west of Seoul, while damaging over 100 cars.

Hyundai Motor and Kia said that their EV batteries are designed to be safe even when charged to 100 per cent, with the internal battery management system monitoring and controlling any issues that may arise.

August 26, 2024
HemoHim’s Global Market Success Rooted in Rigorous Quality Control

August 24, 2024,Seoul, South Korea : HemoHim, a health functional food developed by Kolmar BNH (KRX: 200130), is garnering significant attention in the global market thanks to its meticulous quality control measures throughout the entire process, starting with the stringent management of raw material origins.

This press release features multimedia. View the full release here:

HemoHim G, produced by Kolmar BNH and distributed by Atomy is gaining a great popularity around the world (Image: Kolmar BNH)
HemoHim G, produced by Kolmar BNH and distributed by Atomy is gaining a great popularity around the world (Image: Kolmar BNH)

HemoHim is Korea’s first individually-approved health functional food designed to enhance immune function and alleviate fatigue. Developed by Kolmar BNH in 2006, it is formulated with domestic natural ingredients such as angelica gigas, cnidium officinale, and paeonia japonica. Distributed by Atomy, HemoHim is exported to about 20 countries, including the United States and China. Since its launch, it has generated over KRW 2 trillion in cumulative domestic and international sales, with exports surpassing USD 200 million.

HemoHim’s nearly 20-year consumer preference is highly attributed to the “trust earned through rigorous quality control.” Kolmar BNH, the manufacturer of HemoHim, maintains strict oversight over the cultivation of its primary raw materials—Korean angelica gigas Nakai, cnidium officinale, paeonia japonica—ensuring their safety. The company has established a dedicated food safety team to continuously share technology and provide education to raw material cultivating farms, while rigorously inspecting the safety, stability, and efficacy of these ingredients.

Furthermore, Kolmar BNH has enhanced its quality competitiveness by developing genetic testing methods to verify the country of origin, ensuring the prevention of contamination of primary raw materials with other species. In July, Kolmar BNH patented a genetic analysis method (SCAR Marker) that identifies the origin of Korean angelica gigas by recognizing specific genetic regions. Moreover, Kolmar BNH developed a genetic analysis method using PCR (polymerase chain reaction) analysis for cnidium officinalea and paeonia japonica and completed the patent registration process two years ago.

Safety was also the top priority for HemoHim G, a latest product targeting the global market. In April, Kolmar BNH published a study on HemoHim G in the SCIE-ranked journal ‘Toxicological Research,’ demonstrating its safety. Conducted according to OECD guidelines, the study holds significance not only in facilitating safety approvals in other countries but also in securing intellectual property rights with reliable results.

HemoHim G (Global) is the international version of HemoHim, Korea’s first individually-approved immune-boosting health supplement developed by Kolmar BNH over an eight-year period. The formulation has been tailored to comply with the food regulations of various countries, with adjustments made to raw materials and ingredient ratios. The product features angelica sinensis, ligusticum chuanxiong, paeonia lactiflora, all selected through rigorous provenance and quality control processes. Enhanced taste and aroma also make HemoHim G more appealing to a broader audience.

Kolmar BNH plans to continuously improve quality through ongoing research and development to support HemoHim’s growth as a globally recognized brand.

“HemoHim, now established as a leading K-health functional food brand in the global market, is manufactured through an exhaustive quality control process,” A Kolmar BNH official said. “We will continue to conduct extensive research and development to further enhance product reliability.”

Praveen

August 25, 2024
Microsoft to host global summit after CrowdStrike-induced outage

Microsoft outage: Blue screen of deathX

Microsoft has announced that it will host a summit in September, in the wake of a global IT outage that occurred last month due to a faulty update from CrowdStrike, a cybersecurity company. The outage, which affected nearly 8.5 million Windows devices, disrupted operations across various industries, including major airlines, banks, and healthcare.

The summit, scheduled for September 10, will be held at Microsoft’s headquarters in Redmond, Washington. The tech giant plans to invite government representatives to the gathering, as stated in a company blog post. The aim of the summit is to discuss and devise strategies to improve cybersecurity systems and resilience, learning from the recent outage and enhancing security practices.

The CrowdStrike-induced outage has raised concerns about the preparedness of many organizations to implement contingency plans when a single point of failure, such as an IT system or a piece of software within it, goes down. The incident has exposed the risks of dependence on a single vendor providing a one-stop shop for security solutions, as analysts have pointed out.

Outage

CrowdStrike, which has seen about $9 billion of its market value wiped out since the outage, is facing legal action from shareholders. They allege that the cybersecurity company defrauded them by concealing how its inadequate software testing could lead to a global disruption.

The fallout from the outage has been far-reaching. Delta Air Lines, for instance, has stated that it is pursuing legal claims against CrowdStrike and Microsoft after the outage led to mass flight cancellations, costing the carrier at least $500 million. The outage also disrupted travel plans of 1.3 million customers and led to the cancellation of about 7,000 flights over five days.

Microsoft Teams suffers mega outage, company says fixingIANS

The incident has also had a significant impact on other sectors. Companies like Marriott, The Wall Street Journal, London Stock Exchange, The Washington Post, The Associated Press, and Sky News were all affected by the global outage. Banks and financial services companies warned customers of disruptions, and traders across markets reported problems executing transactions.

Upcoming Summit

In response to the incident, a CrowdStrike spokesperson stated, “We look forward to bringing our perspective to the discussions with Microsoft and industry and government stakeholders on the need for a more resilient ecosystem.”

The upcoming summit is a crucial step towards addressing these issues and improving the resilience of the tech ecosystem. It is a reminder of the importance of robust cybersecurity measures and the need for organizations to have contingency plans in place to handle potential disruptions.

Historically, the tech industry has faced similar challenges. The Millennium Bug, or “Y2K” problem, occurred because early computers saved expensive memory space by only counting the last two digits of the year, leading to critical errors as systems were unable to distinguish between the year 1900 and 2000.

The 2038 problem, or “Epochalypse”, is essentially the same issue, with many computers counting the passage of time by measuring the number of seconds since midnight on Jan. 1, 1970, also known as the “Epoch.”

The incident serves as a stark reminder of the importance of robust cybersecurity measures and the need for organizations to have contingency plans in place to handle potential disruptions.

August 24, 2024
LANXESS India bags two Global Environment and Energy Foundation (GEEF) Global Awards
Mumbai, 22 August 2024: LANXESS India has won two prestigious Global Environment and Energy Foundation (GEEF) Global Awards – Safety award in the platinum category and the WaterTech award in the Sustainable Water Management category for the year 2024. These accolades are a testament to our commitment towards excellence in safety standards and sustainable water management practices.

Balaram Khot, Wholetime Director and Head of PTSE along with Bharat Meesala, Senior Manager, PTSE – Occupational Safety, Xact, Responsible Care and Trade Compliance received the awards on behalf of LANXESS India at a gala event held in New Delhi on 26th July 2024.

The GEEF Global Safety Award recognizes LANXESS India’s outstanding achievements in maintaining the highest safety standards within the chemical industry. The platinum category win displays the organization’s dedication to ensuring a safe working environment for all its employees and stakeholders. LANXESS has strict group-wide directives on health protection, occupational & process safety. These directives focus primarily on identifying risks in advance and implementing measures designed to prevent accidents and rapidly detect and respond to incidents. Key features of the safety systems include active involvement of the employees in building operating procedures, job safety analysis, more focus on the behaviour-based safety programs, robust work permit system, contractor management systems, programs to improve employee health, implementation of strong technical control measures, increased focus on reporting of unsafe conditions and unsafe acts, incident management system, trainings and effectiveness check.

The Global WaterTech Award in Sustainable Water Management category highlights LANXESS India’s innovative approach towards sustainable water management. Water plays a central role in LANXESS’s strategy. As a chemical company, the organization faces up to its responsibility to decouple its own water consumption from economic growth and pursues clear goals: reducing specific water consumption overall and local water consumption, especially at sites where water is scarce. To this end, a water risk analysis is regularly carried out at LANXESS’ sites to accurately measure what is known as “water stress,” i.e. the relationship between water withdrawal and renewable water supplies.

Measures followed with firmly defined targets include:
- reducing water withdrawals through increased water recycling and
- implementing local water stewardship projects
For example, at the Nagda site, discharge from Effluent Treatment Plant is treated in a PTRO unit and evaporator plant so that no liquid effluents are discharged from the site at all and water recovered is re-used for the production processes. Also, grey water from domestic effluent of the neighbouring colonies is treated in the sewage treatment plant and a part of this treated water is used in our processes.

Commenting on the win, Namitesh Roy Choudhury, Vice Chairman and Managing Director, LANXESS India said, “We are honoured to receive the GEEF Global Awards. We remain committed to advancing sustainable practices that benefit not only our organization but also the communities we serve and the environment at large. These recognitions motivate us to keep pushing the boundaries and lead by example in the industry.”

The Global Energy and Environment Foundation (GEEF) Global Awards honour organizations that excel in topics of safety, health, security management, water, wastewater and sustainable development among others. The jury comprised of eminent personalities from government, academia and industry.
Mansi Praharaj
August 22, 2024