Tag: technology

  • EVs can drive Indian automotive industry; reach Rs 134 lakh crore by 2047

    Toll fee collection on national highways reached Rs 54,811 crore in FY24: Nitin Gadkari

    EVs can drive Indian automotive industry reach Rs 134 lakh crore by 2047IANS

    The domestic automotive industry has crossed Rs 20 lakh crore mark in FY24 and has the potential to be worth $1.6 trillion (about Rs 134 lakh crore) by 2047, driven by electric vehicles (EVs), according to industry leaders.

    The automotive industry in the country is poised to be one of the key growth engines in towards achieving a $32-trillion GDP by 2047, according to Pawan Goenka, Chairman of IN-SPACe at the Department of Space.

    Addressing the Automotive Component Manufacturers Association (ACMA) event in the national capital, he said that the automotive industry has the potential to contribute $1.6 trillion by 2047.

    The auto sector also contributes significantly to the direct and indirect employment generation in the country, Goenka further said, adding that the auto industry will contribute more and more to the GDP of the country from the current level of around 6.8 per cent. Over the last two decades or so, the industry has grown by 17 per cent CAGR.

    The Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said that the domestic auto industry has identified 50 critical components for local production in order to reduce import dependence.

    Electric vehicle

    Automotive industry in the country is poised to be one of the key growth enginesIANS

    As most of these items are electrical or electronics, there is a need to develop capabilities and capacities in India for such high tech items, he added.

    Aggarwal told the gathering that the Indian automotive industry has crossed a landmark figure of Rs 20 lakh crore in FY24 and is contributing almost 14-15 per cent of the total GST collected in the country.

    SIAM, along with ACMA, has voluntarily set targets for increasing localisation. The industry bodies are committed to reduce import content by 60 per cent to 20 per cent by 2025 from the base 2019-20 levels, thereby targeting the reduced reports to the tune of Rs 20,000 to Rs 25,000 crore in five years.

    The country has become the third largest passenger vehicle market, the largest two and three wheeler market and third largest commercial vehicle market.

    As the adoption of EVs increase in the country, the cost of EVs will almost match petrol and diesel vehicles within the next two years, Union Minister for Road Transport and Highways, Nitin Gadkari, earlier said at the event.

    (With inputs from IANS)

     

  • Apple Watch Series 10 is here with bigger display, new finishes, sleep apnea detection & more

    Apple launches Watch Series 10 and Watch Ultra 2

    Apple launches Watch Series 10 and Watch Ultra 2Apple

    Apple has introduced the latest iterations of its popular smartwatch lineup, launching the Apple Watch Series 10 and Apple Watch Ultra 2, packed with advanced features, health monitoring tools, and a fresh design. The new models boast bigger displays, faster charging, and sleek finishes.

    Apple Watch Series 10: Bigger, Brighter, and Thinner

    The Apple Watch Series 10 debuts with a wide-angle OLED display, which is now 40% brighter than previous versions. Its shimmering dial reacts to movement, enhancing its immersive design, while a sapphire front crystal boosts durability. The Series 10 is also the thinnest Apple Watch ever produced.

    With an array of stylish finishes, the Series 10 offers Jet Black, Rose Gold, and Silver Aluminum, with the Jet Black version undergoing a complex 30-step anodization process to achieve its reflective shine. For those seeking a more luxurious option, Apple offers a new polished titanium finish, replacing the previous titanium steel, available in Natural, Gold, and Dark Slate Grey. Matching bracelets are also designed to complement each case.

    Apple launches Watch Series 10 and Watch Ultra 2

    Apple launches Watch Series 10 and Watch Ultra 2Apple

    Despite the elegant design, the Apple Watch Series 10 remains robust with a 50-meter water resistance rating, making it suitable for swimming, surfing, and snorkelling.

    Health-conscious users will welcome the addition of sleep apnea detection in Series 10. Using its built-in accelerometer, the watch can detect possible signs of sleep apnea and notify users, providing a detailed report for sharing with doctors. Sleep apnea detection will also be available on Series 8 and Series 9 models through software updates.

    Other key features include the S10 SiP (System in Package), which powers on-device Siri, crash detection, fall detection, and a new double-tap gesture for added convenience. Additionally, watchOS 11 introduces new widgets, enhancing usability, while a built-in Translate app powered by machine learning provides real-time language translation.

    The Series 10 retains its all-day battery life, with 18 hours of use, and offers the fastest charging in the Apple Watch lineup, reaching 80% in just 30 minutes.

    Apple Watch Ultra 2: Rugged Elegance with a New Finish

    Apple launches Watch Series 10 and Watch Ultra 2

    Apple launches Watch Series 10 and Watch Ultra 2Apple

    Apple Watch Ultra 2, designed for outdoor enthusiasts and professionals, now comes in a stunning new Satin Black finish. Scratch-resistant and made from 95% recycled grade 5 titanium, the Ultra 2 offers both durability and environmental sustainability. It maintains its rugged appeal with updated bands, including a corrosion-resistant titanium Milanese loop designed specifically for scuba divers.

    The Ultra 2 also features a parachute-style buckle that ensures the band stays securely fastened, even during intense activity. For those seeking high-end luxury, Apple revealed a new Hermes watch face and band, adding a touch of elegance to the most rugged model in the lineup.

    Both the Series 10 and Ultra 2 models include built-in depth gauges, perfect for underwater activities like snorkelling and diving. The watch face dynamically fills to indicate how deep the wearer has gone, providing vital information for those venturing underwater.

    Starting at $399 for the Series 10 and $799 for the Ultra 2.

  • Apple iPhone 16 Pro, iPhone 16 Pro Max launched: Features, pricing, availability in India

    Apple iPhone 16 Pro series is here

    Apple iPhone 16 Pro series is hereApple

    Apple has finally taken the wraps off its highly-anticipated iPhone 16 Pro and iPhone 16 Pro Max models at the global launch event, showcasing significant advancements in display technology, performance, and camera capabilities. The new Pro models are big on Apple Intelligence, design, camera, power, and efficiency. Let’s take a closer look at the “best iPhone ever” by Apple.

    Pro Display and Design

    The new iPhone 16 Pro models feature a 6.3-inch display for the Pro and a 6.9-inch display for the Pro Max, both using the ProMotion technology with a 120Hz refresh rate and Always-On Display (AOD) capabilities.

    The displays are protected by Ceramic Shield, ensuring durability and resistance to scratches. The Pro models are built from Grade 5 Titanium, offering a stronger and more scratch-resistant finish with a microblasted texture. The devices are available in four colors: Black, White, Natural, and Desert Titanium.

    iPhone 16 Pro

    iPhone 16 Pro coloursApple

    Performance and Apple Intelligence

    Under the hood, the new Pro iPhones are powered by the new A18 Pro chip, built on a 3nm architecture, featuring a 16-core neural engine capable of performing 35 trillion operations per second. To put things into perspective, the A18 Pro is said to be 15% faster than its predecessor, the A17 Pro.

    Apple iPhone 16 Pro series is here

    Apple iPhone 16 Pro series is hereApple

    The iPhone 16 Pro series includes a 6-core CPU with two performance cores and a 6-core GPU, providing the fastest processing power ever seen in an iPhone. The enhanced GPU supports AAA games with twice the ray tracing speed, while the advanced Apple Intelligence integration enhances functionalities such as photo editing, summarizing recorded meetings, and rewriting notes effortlessly. 

    Cameras

    The iPhone 16 Pro and Pro Max are equipped with a 48MP Fusion Camera with a second-generation quad sensor, a 48MP Ultra Wide camera with macro capabilities, and a 12MP 5X telephoto camera.

    Apple iPhone 16 Pro series is here

    Apple iPhone 16 Pro series is hereApple

    The new camera control button allows users to manage settings effortlessly.

    In video recording, the Pro models offer options including Cinematic Slow Motion, 4K at 120fps, and Dolby Vision, with frame rate options of 24, 30, and 60 fps. New features such as audio mix—leveraging machine learning to separate background noise—and offering professional sound recording outputs with four studio-quality mics are sure to enhance the multimedia experience.

    Apple iPhone 16 Pro series is here

    Apple iPhone 16 Pro series is hereApple

    Sustainability and pricing

    In line with its commitment to environmental sustainability, Apple has introduced 100% fibre-based packaging for the iPhone 16 Pro models, reducing its carbon footprint. The iPhone 16 Pro is priced at $999, while the iPhone 16 Pro Max starts at $1199. Preorders for the new models will begin on Friday, with availability set to commence on September 20 in more than 58 countries, including India.

    In India, the iPhone 16 Pro and iPhone 16 Pro Max will be available in 128GB, 256GB, 512GB, and 1TB models. The iPhone 16 Pro will start at Rs 1,19,900 and the iPhone 16 Pro Max will start at Rs 1,44,900, whereas the 512GB will cost Rs 164900 and the 1TB model is priced at Rs 184900.

    Apple iPhone 16 Pro series is here

    Apple iPhone 16 Pro series is hereApple

  • Apple iPhone 16, iPhone 16 Plus launched with Dynamic Island, Action Button; see India pricing & availability

    Apple iPhone 16, iPhone 16 Plus launched with Dynamic Island, Action Button; see India pricing & availability

    Apple iPhone 16, iPhone 16 Plus launched with Dynamic Island, Action ButtonApple

    Apple has officially launched iPhone 16 series during its Glow Time event, bringing some exciting changes to the non-Pro models The new lineup, consisting of the iPhone 16 and iPhone 16 Plus, borrows some Pro features, like the Dynamic Island and Action Button, packed away in its stylish yet familiar design. Let’s take a look at what the new iPhones have to offer.

    The iPhone 16 series boasts a sleek design, made with aerospace-grade aluminum and color-infused back glass in five new shades. The iPhone 16 features a 6.1-inch Super Retina XDR display, while the iPhone 16 Plus offers a larger 6.7-inch screen, with a remarkable 2,000 nits of brightness. Both models now include the Dynamic Island, eliminating the traditional notch and enhancing screen functionality. They even come with water and dust resistance for added protection and durability.

    A standout addition is the customizable Action button, which users can program for various functions such as recording voice memos, identifying songs, and controlling the camera. This button allows intuitive camera control—users can adjust settings by sliding their finger and use a tactile switch for various interactions. 

    Apple iPhone 16, iPhone 16 Plus launched with Dynamic Island, Action Button

    Apple iPhone 16, iPhone 16 Plus launched with Dynamic Island, Action ButtonApple

    Powering the iPhone 16 is the new A18 chip, featuring a 16-core neural engine and built on second-generation 3nm technology. This chip delivers a substantial 30% performance improvement over the previous A16 Bionic chip.

    Apple Intelligence, a key feature of the iPhone 16, integrates advanced AI capabilities into iOS 18, supported by Private Cloud Compute for enhanced privacy. This system enables large-scale generative models while ensuring user data remains secure. AI functionalities include text rewriting, tone adjustment, emoji creation from descriptions, and image generation based on user inputs. Siri has been upgraded to offer more contextually aware responses and actions.

    The iPhone 16 series introduces an advanced dual-camera system elegantly housed in a glass capsule, featuring a 48MP main lens with a 2x telephoto option and a 12MP ultrawide lens. The cameras offer improved low-light performance, macro photography, and new functionalities such as Spatial photos and videos. Enhanced audio processing technology also eliminates unwanted wind noise from recordings. The redesigned photo app provides better organization and cleanup tools to remove background disturbances or objects.

    iPhone 16 cameras

    iPhone 16 camerasApple

    The iPhone 16 supports AAA games like Resident Evil BioHazard and includes the latest iOS 18, bringing new features and improvements to the user experience. The Camera Control feature enhances the photography experience with a tactile switch and high-precision sensors, allowing users to quickly launch the camera, take photos, and start video recordings. Coming soon is a new feature called Visual Intelligence, which will further enrich user interactions, enabling functions like identifying objects and integrating with third-party tools such as Google Search and ChatGPT.

    Pricing and availability

    iPhone 16 and iPhone 16 Plus will be available in ultramarine, teal, pink, white, and black, with storage options of 128GB, 256GB, and 512GB. The iPhone 16 starts at Rs 79,900 for 128GB, while the 256GB and 512GB models will be priced at Rs 89,900 and Rs 1,09,900, respectively. As for the iPhone 16 Plus, the pricing starts at Rs 89,900 for 128GB, Rs 99,900 for 256GB and Rs 1,19,900 for 512GB variant.

    Pre-booking for the new iPhones will commence this Friday, and sales will begin September 20.

  • Taking aggressive steps to open offices in rural areas: Zoho chief

    Taking aggressive steps to open offices in rural areas: Zoho chief

    Taking aggressive steps to open offices in rural areas: Zoho chiefIANS

    Zoho CEO Sridhar Vembu on Monday said the company is taking aggressive steps to open offices in rural areas.

    Vembu said this, even as the Chennai-based SAAS company opened another office in a rural area of Tamil Nadu.

    The new campus launched in Tharuvai in Tirunelveli district, adds to other major centres in southern districts: Mathalamparai in Tenkasi, and Kappalur in Madurai.

    “I love this new campus!” Zoho chief posted on social platform X, while noting the company’s expansion to the Kumbakonam area in Thanjavur district.

    The Cloud software major also has “a significant presence in Palladam near Coimbatore”.

    “We have many smaller satellite offices too and I work out of a small satellite in a remote village. We are taking aggressive steps to direct our growth in Tamil Nadu towards rural offices so we don’t further overcrowd Chennai,” Vembu said.

    Earlier in August, Vembu noted that in a first major rural expedition North, Zoho “is likely to mark its presence in eastern Uttar Pradesh this year”.

    “We are moving in that direction. It takes time to acquire land etc.,” he posted on X.

    Zoho's Sridhar Vembu joins National Security Advisory Board

     Zoho CEO Sridhar Vembu is taking aggressive steps to open offices in rural areas

    Zoho last year surpassed 100 million users across over 55 business applications.

    In February, Zoho launched an industrial park and research and development centre in Kerala’s Kottarakara. The centre, majorly focussed on AI and robotics, is expected to generate around 1,000 jobs in Kerala.

    Vembu believes that opening high-end technology companies in rural towns helps “stop the exodus of youngsters seeking overseas jobs”.

    He dreams of making a “meaningful presence everywhere” in about the next 20 years.

    Zoho began its rural office in Tamil Nadu’s Tenkasi in 2011. It started with hardly 10 employees, and now reportedly has around 900 professionals working in a non-urban area.

    (With inputs from IANS)

     

  • Integrating health management systems key to boost data efficiency: Health Secy

    Integrating health management systems key to boost data efficiency: Health Secy

    Integrating health management systems key to boost data efficiency: Health SecyIANS

    Integrating the Health Management Information System (HMIS) portal with Reproductive and Child Health (RCH) and other portals of the Health Ministry may help boost data efficiency, said Apurva Chandra, Union Health Secretary on Monday.

    He said this during the release of the annual publication ‘Health Dynamics of India (Infrastructure and Human Resources) 2022-23’, previously known as ‘Rural Health Statistics’.

    “The annual publication is a valuable document furnishing much-needed information on manpower and infrastructure within the National Health Mission, helpful in policy-making, improving processes and problem-solving,” said the Health Secretary.

    “Need to integrate the HMIS Portal with RCH and other portals of the Ministry to reduce the burden of work of health functionaries and to ensure that the data are uploaded timely and analysed carefully,” he added.

    Chandra said that the document gives a cross-analysis across the states on the availability and deficiencies in manpower and infrastructure.

    Doctor

    Numerous medical professionals serve at various healthcare facilities across the countryIANS

    “The data is immensely helpful in understanding the requirements of the states, their priority areas, and formulating policies and targeted campaigns,” he said.

    He noted that the health statistics also aid in making a comparison of the performance of the states on different parameters.

    It showed that as of March 31, 2023, the country has a total of 1,69,615 sub-centres, consisting of 2,39,911 health workers; and 31,882 primary health centres (PHCs) employing 40,583 doctors/medical officers.

    About 26,280 specialists and medical officers work at 6,359 community health centres (CHCs); and 45,027 doctors and specialists are deployed at 1,340 sub-divisional/district hospitals (SDHs), 714 district hospitals (DHs), and 362 medical colleges. These serve both rural and urban areas, according to the report.

    In addition, there are 47,932 staff nurses at PHCs, 51,059 nursing staff at CHCs, and 1,35,793 paramedical staff at SDHs and DHs across the country.

    The report, being released since 1992, provides detailed annual data on health infrastructure and human resources. It consists of comparative analysis, district-wise data, rural, urban, and tribal focus, classification of States/UTs, and guidance for stakeholders.

    (With inputs from IANS)

  • Apple Watch Series 10 likely to feature sensor to detect sleep apnoea

    Apple Watch Series 10 likely to feature sensor to detect sleep apnoea

    Apple Watch Series 10 likely to feature sensor to detect sleep apnoeaIANS

    The soon-to-be-launched Apple Watch Series 10 is likely to feature an upgraded ECG sensor that can help detect sleep apnoea, according to media reports.

    Sleep apnoea is a serious sleep disorder where breathing repeatedly stops and starts. People suffering from the condition repeatedly take pauses in breathing, as well as snort and gasp — all while in sleep. This lowers blood oxygen levels, making the condition potentially fatal.

    The reports noted that using the sleep tracking feature, the new Apple Watch Series 10 will be able to detect sleep apnoea in users. It can then alert the user and recommend further tests.

    Other key health features include a change in the processing of the health data collected by these sensors.

    This includes using new algorithms in the Health app on the iPhone to look for atrial fibrillation, rather than on the Apple Watch itself, the reports claimed.

    The highly-anticipated event, with a tagline “Its Glowtime” is expected to take place on September 9.

    Apple Watch Series 9 review

    Apple Watch helped save a trail runner’s life by calling an ambulance after he fell during a runIBT

    Other potential features for the Watch Series 10 include slightly larger displays and a thinner case which will be available in both 44mm and 48mm sizes.

    Further, it is also likely to come with better water resistance to allow for support of the Apple Watch Ultra’s Depth app.

    Another feature expected is “Reflections,” a watch face that reacts to ambient light.

    Despite the new additions, Apple will not likely include the blood oxygen sensor feature which it removed from existing watches following a patent dispute with Masimo.

    Apple Watch is known to provide heart health features such as high and low heart notifications, cardio fitness, irregular rhythm notifications, the ECG app, and atrial fibrillation (AFib) history. It has also been instrumental in saving many lives.

    In May, Apple Watch Series 7 saved a Delhi woman’s life by alerting her abnormal heart rhythm. In January, a London-based doctor saved the life of an elderly woman mid-air using Apple Watch’s banned pulse oximeter that monitors blood oxygen levels.

    Last year, Apple Watch helped save a trail runner’s life by calling an ambulance after he fell during a run.

    (With inputs from IANS)

  • Bridging Chemistry and Biology: Finding New Limits in Cancer Research

    Sudarsan Kasireddy

    Photo credit: Sudarsan Kasireddy

    Sudarsan Kasireddy, an associate research scientist at Purdue University, reflects on the cancer research industry, stating, “Innovation involves finding new limits, pushing boundaries, questioning the status quo, and exploring uncharted territories.”

    Kasireddy’s remarkable journey in the field of medicinal chemistry spans over 15 years, showcasing his commitment to bridging the gap between chemistry and biology in the pursuit of advanced cancer treatment strategies. With a strong foundation in synthetic organic chemistry, Kasireddy has carved a distinguished career path that has taken him from his early days as a trainee chemist at Suven Life Sciences Limited in Hyderabad to his current role as an associate research scientist at Purdue University.

    His educational background is proof of his dedication and excellence in the field. He earned his Bachelor’s degree from Osmania University, followed by a Master’s in Organic Chemistry from SRTM University, Nanded. Driven by a passion for research, Kasireddy pursued his doctoral studies in Synthetic Organic Chemistry at the prestigious Indian Institute of Technology (IIT) Madras. During his Ph.D., he not only published six peer-reviewed research articles but also received numerous accolades, including the Sai Life Sciences-NOST Best Thesis Award and the Prof. C. N. Pillai Prize for Best Ph.D. Thesis.

    The Role of Chemical Biology

    Kasireddy’s work involves chemical biology, which combines chemistry and biology to understand disease complexities. His research focuses on developing small molecule ligand AAconjugates to target cancer cells precisely while minimizing damage to healthy tissue.A

    “I designed small molecule ligand conjugates that selectively deliver to diseased cells without harming healthy cells,” Kasireddy explains. “I used these compounds in identifying precise disease locations and affordable treatment options.”

    This shift in cancer treatment from broad-spectrum therapies to targeted interventions represents precision. Kasireddy’s work in chemical biology contributes to developing practical, personalized, and affordable cancer therapies.

    Synthetic Medicinal Chemistry Contributions

    This researcher’s prowess in synthetic medicinal chemistry is central to his work. His training in organic, medicinal, and chemical biology has enabled him to understand drug targets and mechanisms, allowing him to design and develop novel therapeutic agents.

    “As a synthetic medicinal chemist, I have contributed to multiple diseases such as cancer and inflammatory disease areas,” Kasireddy notes. “Currently, I work as an associate research scientist at Purdue University, focusing on discovering affordable immunotherapy treatment options against malignant diseases like cancer.”

    His research exemplifies his work on ligand-targeted oligonucleotides, including microRNAs and ASOs for cancer gene regulation. Kasireddy aims to advance cancer treatment possibilities by crafting these molecules and assessing their properties.

    Translating Research to Clinical Applications

    Kasireddy’s research is rooted in chemistry and biology principles, but his goal is to translate discoveries into patient benefits. His collaborations with biopharmaceutical companies such as Umoja Biopharma and AusperBio highlight his work’s translational potential.

    “I gear my effort toward utilizing chemical derivatization and forward genetic approaches to study compounds that selectively target genes responsible for disease progression,” Kasireddy explains. “We then optimize promising agents for patient administration via dose-response and safety testing in animal models.”

    He combines basic research with clinical application, accelerating the development of novel cancer therapies. One of Kasireddy’s research at Purdue University has contributed to the development of targeted microRNA therapy that effectively slows cancer tumor growth. In collaboration with a team led by Andrea Kasinski, Kasireddy played a key role in designing and testing a fully modified version of miR-34a, a molecule that acts as a brake on cell division. The therapy selectively targets cancer cells that overexpress folate receptors, such as those found in breast, lung, ovarian, and cervical cancers by attaching this modified miR-34a to a folate molecule. This strategy inhibits tumor growth and suppresses the activity of genes known to drive cancer and resistance to other therapies, offering a promising new avenue for treating drug-resistant cancers.

    The Future of Cancer Research

    Kasireddy’s work contributes to the evolving field of cancer research. In 2022, the U.S. spent an estimated $885.6 billion on research and development, a 12% increase from the previous year, setting the stage for advancements in cancer treatment.

    He remains optimistic, stating, “Science is constantly evolving. As we continue to unravel the complexities of cancer, I believe we will find ways to make these inventive therapies more accessible and affordable for all.”

    Kasireddy demonstrates the potential for research, collaboration, and dedication in advancing cancer treatment. With researchers like him leading the way, the future of cancer treatment holds promise.

  • Auckland University of Technology Launches Australasia’s F

    India,2024: Auckland University of Technology (AUT) has announced the launch of a pioneering summer school course, Taylor Swift: Communications Professional, marking Australasia’s first university-level course with the global pop icon. Offered by AUT’s School of Communication Studies, the course will critically analyse Taylor Swift’s 18-year career through the lens of modern communications disciplines.

    Senior lecturer Rebecca Trelease (Te Āti Haunui a Pāpārangi) highlighted Swift’s mastery of communication as a driving force behind her media success. “Throughout her career, Taylor Swift has demonstrated excellence in lyrics, music, and a curated image of a pop culture phenomenon,” said Trelease. “What must also be examined is Swift’s prowess as a communications professional, the backbone to curating and maintaining her career in the media.”

    The new course comes on the heels of overwhelming interest in Swiftposium, an academic conference held in February 2024 to critically examine Swift’s global impact. The conference, co-funded by AUT and partner universities in Australia, drew immense attention from both high-school students and fans alike, reflecting the singer’s widespread influence.

    The Taylor Swift: Communications Professional course will allow students to learn and apply communications theory to Swift’s body of work. From analysing her visual and audio content to critiquing her branding strategies, the course offers students a unique opportunity to understand communication principles through the lens of a globally dominant figure in pop culture.

    “This course is for everyone – from high school students eager for a head start on university study, to established professionals looking to expand their knowledge,” added Trelease. “We’re thrilled to offer a course that reflects the cultural relevance of Taylor Swift while equipping students with the tools to analyse and apply communication strategies in their own careers.”

    The course will run from November 18 to December 13, coinciding with Taylor Swift’s 35th birthday, and will be held three days a week at AUT’s City Campus. If there is enough interest, AUT may also offer the course online to cater to students who are unable to attend in person.

  • Indian hospitality investment market projected to reach $413 million in 2024

    Indian hospitality investment market projected to reach $413 million in 2024

    Indian hospitality investment market projected to reach $413 million in 2024IANS

    Buoyed by overall infrastructure growth and expanding commercial market, the hospitality investment sector in the country showed robust growth in the first half this year, according to a new report.

    Hotel investment transactions reached $93 million and are expected to reach $413 million by year-end — a 22 per cent increase compared to last year, according to latest data from JLL Hotels and Hospitality Group

    Top hotel companies led by contributing 44 per cent of the total transaction volume. It was followed by owner-operators at 30 per cent and high-net-worth individual (HNIs), family offices, and private hotel owners at 26 per cent.

    According to the report, the positive momentum is set to continue throughout the second half of the year.

    Key markets, including Mumbai, Hyderabad, Pune and Chennai, remain dominant, accounting for 78 per cent of the projected transaction volumes.

    Tier 2 and 3 markets are likely to contribute the remaining 22 per cent.

    Leela Group

    Top hotel companies led by contributing 44 per cent of the total transaction volumeIANS

    Notably, JLL has already facilitated two significant transactions at the onset of the second half of 2024, comprising an operational hotel in Mumbai and a premium hotel land sale in Goa.

    “The surge in investor interest for both – operating assets and land sales illustrate the attractiveness of the investment landscape, bolstered by favourable macroeconomic factors, an expanding commercial market, and improved air connectivity,” said Jaideep Dang, Managing Director, Hotels and Hospitality Group, India, JLL.

    This positive outlook is further reinforced by the substantial hotel development activity witnessed across various tiers, with over 19,440 keys signed in the first half of 2024 alone, the report mentioned.

    Another report earlier this month said that 2,706 new rooms were added in the upscale and premium segment in the first half of this year, amid a notable growth in infrastructure development. Out of these, 994 rooms (37 per cent) were upscale while the remaining (63 per cent) consisted of premium inventories.

    Indian hospitality industry is on a strong footing marked by a rise in occupancy, new projects opening and a bullish pipeline for the future, according to Skye Hospitality.

    (With inputs from IANS)