Archive: July 9, 2022

The Karnataka Event Management Association Scores 100

The Karnataka Event Management Association (KEMA), on account of its Monthly General body meeting, organized the Event Manager’s Meet up at the TAJ, Yeshwanthpur. The monthly meet saw the celebration of 100 + memberships of event management fraternity into the association. Some new and exciting event technologies were showcased at the event also.

Stalwarts from the music Industry Smt. Kavitha Krishnamurti, renowned bollywood playback singer who has the credit of singing more than 50000 songs in 46 various languages, Guru Kiran, acclaimed music director of the Kannada film industry in India, Raghu Dixit, Indian singer-composer who has performed concerts worldwide and Sangeetha Rajeev, Indian singer, stage performer and composer who has been the recipient of best international pop singer award, were the guests of honour for the evening. Speaking on the occasion, Guru Kiran, Raghu Dixit and Sangeetha Rajeev had great regards for the association for taking up initiatives in raising funds for the working staff of the Event Management Industries and extended their support for the cause. Giving her time out for the special occasion of unveiling 100 + members into KEMA, Smt. Kavitha Krishnamurti wished the Event fraternity to grow from strength to strength.

The highlight of the event was the knowledge session by Brian Tellis, a very big name in the event management industry. Brian Tellis is an unparalleled pioneer in the events and entertainment industry with a path-breaking career that spans over 3 decades. He co-founded Fountainhead Promotions and Events Pvt Ltd and turned it into one of India’s most sought-after experiential marketing agencies. Brian is a founding member of EEMA – and has served as its President. Brian is also an accomplished emcee, musician, actor, consultant, voiceover artist and a radio jockey. Truly, a 21st century Renaissance man. It was a one of its kind session by BRIAN where he shared an insight on marketing, personal branding, corporate protocols, valuation GAMEs for organizations and experiential events and future of events and the event management Industry. Brian’s talks were not only inspiring but were great learnings for the betterment and growth of the industry.

Speaking on the occasion of the Event, Mr. Amit Singla, President of KEMA said “It is a moment of pride for the entire fraternity of events in Karnataka. What started as a dream to bring all stakeholders of the events ecosystem on this common platform seems like taking shape now. We are gaining traction, standardizing systems and processes, connecting the bridges between the stake holders, solving licensing and permissions, connecting with government. Our ultimate aim is to make Karnataka the number one State for weddings and events in the country. We will get there with everyone’s support. So if you are in anyway connected to this industry, come and become a part of our KEMA Family”

“We at KEMA are working towards customer delight and making collaborations with Event management industries an everlasting experience as Clients and Corporates depend on us to make their celebrations, landmark events and memories for a lifetime.” said Sucheta Shekhar, Executive Committee member / Events of KEMA.

“Our objective is to bring in more people of the industry within the KEMA fraternity. One of the prime reasons of having regular meets is to help members understand the importance of being a part of an association which can help them liaison with government and different agencies and work towards getting the events and wedding planning an industry status” Mr. Srikant Kanoi, Vice President, KEMA was quoted as saying.

“KEMA began with an effort to bring all Event Management Professionals of Karnataka at one place to discuss latest development in the world of Event Management, represent as a association with a unified voice that leads dialogue within its members and with government, Statutory Bodies, Taxation Authorities, Private and Municipal Licensing Bodies, Corporate Industry, Vendors and Artists. Going forward KEMA will be setting Industry Standards that will guide its members and prescribe a Code of Conduct for its members and their employees safeguarding their interests in the Industry.” Pradeep Naik, General Secretary. KEMA opined.

Covestro breaks ground on two new production facilities in Shanghai

Materials manufacturer Covestro today broke ground on two new plants in Shanghai to meet the rising demand for polyurethane dispersions (PUDs) and elastomers. These new facilities, which represent a combined investment of a mid double-digit million euro amount, will be located within the Covestro Integrated Site Shanghai.

“These projects will contribute to the high-quality and sustainable development in China and beyond,” said Holly Lei, President of Covestro China. “They will also add to the scale and strength of our Shanghai site, which will be playing a key role in the quest of Covestro to becoming operational climate neutral by 2035.”

A leading supplier for sustainable solutions 

The new plant for PUDs, as well as a further line for polyester resins, from which PUDs are produced, are due to be completed in 2024. PUDs are used in more environmentally compatible coatings and adhesives for a wide range of applications, including automotive, construction, furniture, footwear and packaging. For instance, Covestro’s Bayhydrol® and Bayhytherm® raw materials are used in basecoats for automotive OEM and refinish coatings, as well as in wood and furniture coatings and robust floor coatings, while adhesives formulated with Dispercoll® U are used in furniture and shoe manufacturing as well as in the automotive industry. Independent of the investment of Covestro in Shanghai, its large portfolio of waterborne polyurethane coating raw materials based on PUDs for various applications also includes products of the Baybond®, Impranil®, NeoPac® and NeoRez® series.

“With the new investment, we will be even better positioned to address the rising demand for more environmentally compatible coatings and adhesives across the globe,” said Zhong Xiaobin, Senior Vice President of the Coatings and Adhesives segment of Covestro in the Asia Pacific region. “As one of the global leaders in this segment, we will continue to tap the trend where our customers turn to more sustainable waterborne systems with equally good properties to replace solvent-based products.”

High performance elastomers to drive sustainable growth 

The new facility for polyurethane elastomers, which are widely used in industries ranging from offshore wind to solar energy as well as material handling, is expected to become operational already in 2023. The market for these flexible and durable materials in China and the Asia-Pacific region is growing faster than both gross domestic product and downstream industries.

“The new facility for polyurethane elastomers will ensure that we have a strong capacity to meet the needs of our customers,” said Simon Chen, Head of Covestro’s Elastomers segment in Asia Pacific. “Our Desmodur® based polyurethane elastomers will serve a wider range of applications as they boast excellent performance, particularly in the field of sustainable energy.”

Since 2001, Covestro has invested EUR 3.6 billion into building the Shanghai integrated site, which comprises 11 plants and is the company’s largest site in the world. In the past year, the Shanghai site obtained the ISCC PLUS mass balance certification, meaning it can supply customers with larger product volumes from renewably attributed raw materials.

SBI signs MOU with KDEM to provide access for funds and special financial services for Start-ups in Bengaluru

Bengaluru, July 2022: The Karnataka Digital Economy Mission (KDEM) has partnered with India’s largest public-sector banking conglomerate, the State Bank of India (SBI) to support the start-up ecosystem of Karnataka. KDEM and SBI exchanged a Memorandum of Understanding (MoU) wherein SBI will be now partnering with the Fintech Innovation hub at Mangaluru and leveraging the CGTSME scheme to provide funding support to the start-ups in the state. The MOU is a first of its kind step for start-ups by any banking institution.

Exchanged in the presence of Dr. Ashwathnarayan C N, Hon’ble Minister, Dept of Electronics, IT BT S&T, and Shri Rana Ashutosh Kumar Singh, Deputy Managing Director (Transaction Banking & New Initiatives), SBI & Shri Nand Kishore, Chief General Manager (Bengaluru Circle), SBI. The MoU was signed by Mr. Sanjeev Gupta, CEO, KDEM, and Shri S. Radhakrishnan, General Manager, NW-I, SBI, Bengaluru Circle.

The MoU will empower SBI to build a robust mechanism for the Karnataka Government-recognized start-ups supported by KDEM to avail financial services including credits to the start-ups. The important feature of the MOU is to extend Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTSME) to ELEVATE Winners and to AIF-supported start-ups of Karnataka. The Elevate-Idea2PoC was launched by the Department of Electronics, IT, BT, and S&T, Government of Karnataka to identify and nurture innovative start-ups and provide them the necessary boost at various stages through funding or mentoring. So far, we already have 750 ELEVATE winners with us, and with this MOU more than 1000 start-ups are going to be supported.

Congratulating KDEM and SBI on the MoU, Dr. Ashwathnarayan C N, Hon’ble Minister, Dept of Electronics, IT BT S&T said, “Karnataka has already established itself as a leading state in the nation with a favourable start-up ecosystem supported by a robust policy framework and infrastructure. I am pleased that a huge public sector conglomerate such as SBI values the importance of building an enriching environment, that will elevate the state and the nation’s digital economy. I congratulate Mr. Sanjeev Gupta and Shri Rana Ashutosh kumar Singh for the signing of the MOU and for their support of the innovation hub in Mangaluru.”

Commenting on the MoU Exchange, Shri Rana Ashutosh Kumar Singh, Deputy Managing Director (Transaction Banking & New Initiatives), SBI said, “It is a great pleasure for us at SBI to partner with organisations such as the Karnataka Digital Economy Mission and the Government of Karnataka that is striving to build a world-class innovation hub and a robust start-up ecosystem that will inspire the nation. We believe that this is a fitting partnership as we can converge our financial acumen with KDEM’s platform and reach that will together become a gamechanger for the industry.”

Speaking at the MoU exchange, Shri B V Naidu, Chairman, KDEM said, “KDEM has always strived to be an enabler of change and innovation in Karnataka’s start-up journey. This MOU will add another flavour of comprehensive financial services available to start-ups. SBI has shown keen interest in the opening of the start-up branches in the emerging tech clusters like Mangaluru, Mysuru, and Hubballi in the next 3-6 months. I am happy that SBI has shown keen interest in participating in our cluster seed funds which is the first of its kind in India.”

The State Bank of India will be opening an exclusive start-up desk in the ‘Innovation Tower’ of the Government of Karnataka at HSR layout, Bengaluru to offer services to start-ups. Subsequently, KDEM will assist SBI in opening branches across the three clusters of Mysuru, Mangaluru, and Hubballi-Belagavi to facilitate and support start-ups based out of these clusters.

Commenting on this partnership, Dr. E V Ramana Reddy, ACS, Dept of Electronics, IT BT S&T, said, “This is a significant moment for SBI and KDEM, coming up with a unique platform that empowers the innovation ecosystem of Karnataka for the financial services. SBI will also be supporting the fintech task group and be an important partner in executing the strategies for making Karnataka the world’s leading fintech hub.”

Mr. Sanjeev Gupta, CEO, KDEM while signing the MOU said, “Now that we have SBI, India’s largest public-sector bank supporting Karnataka’s start-up ecosystem, I am confident that Karnataka will be the Fintech hub of the world and also aspire to be the top 5 start-up ecosystem of the world. SBI providing dedicated financial services for start-ups will now create a growth to the start-up ecosystem in beyond Bengaluru clusters as well. “

The MoU will further allow the two parties to participate in cluster funds under KITVEN (Karnataka Information Technology Venture Capital Fund). KITVEN Fund has invested in emerging companies with a long-term investment approach and also focused on investments in seed/ rapid growth opportunities within the State of Karnataka. The Fund has assisted a wide spectrum of companies catering to Information Technology, Biotechnology, and other high-end products/ solutions in the knowledge-based sector and aims to augment the state’s Fintech sector through this partnership.

Canadian wood hosts an insightful webinar for the Industry on Versatile, Sustainable and Legal

India, 08 July 2022: Forestry Innovation Consulting India Pvt Ltd, the crown agency of the provincial Government of British Columbia (B.C.), popularly known as Canadian wood, hosted an insightful webinar “Canadian Wood – Versatile, Sustainable and legal,” that aimed at educating their target audience on Canadian wood species and the various measures that B.C. Canada take to produce certified wood sourced from the sustainably managed forests.

The webinar saw active participation from various industry experts and took insights from the session. They explained why wood is an overall better choice than any other popular building material like concrete or brick. Meanwhile, they also busted many myths surrounding wood, their sourcing and the benefit it provides to the environment while transportation. One of the panelists spoke about how wood can be a better choice for the environment if they are sourced sustainably and cared for to extend their life.

Speaking on the occasion, Pranesh Chhibber, Country Director, FII said, “Canadian wood reaches out to the target audience through a highly accomplished techno-commercial team based out of Mumbai, Delhi NCR and Bangalore. While the products must be transported across the globe because B.C. Canada is distant from India, doing so can be done without having a harmful effect on the environment, which is why we strongly support Sustainable Forest Management. After seeing operations across locations since the early 1990s, Canadian wood today is available with 41 stockists spread across 23 cities. To increase awareness Canadian wood consistently organizes educational seminars, networking events, training workshops, and conduct product trials under “Try Canadian wood” program amongst their target audience.

Sharing insights on wood as a versatile and futuristic material, Dr. Jimmy Thomas, Assistant Director Technical Services, FII said, “It has always been a pleasure to talk about the initiatives I believe in so firmly. Speaking of it, Canadian Wood has played a huge part in recognizing Sustainable Forest Management and versatility of wood by showcasing various applications. Properties that make wood versatile are its stability, durability, good screwing properties and Strength-to weight ratio etc.

Mr. Peter Bradfield, Technical Advisor, FII said, “India has a large need for sustainable wood suppliers since local customers are placing greater demands on businesses to show a commitment to environmental preservation while manufacturing wood products. Thus, using wood as a material is environmental friendly. One must go for Certified wood because of its legality and ensure that the source of lumber is always traceable. Only 10% of the world’s forests are certified and Canada alone has over 40% of the world’s forest certification.”

The Canadian province of British Columbia (B.C.) is regarded as a global pioneer in sustainable forest management, satisfying the demands of the present and next generations in terms of the environment, society, and economics. British Columbia (B.C.) is the largest lumber exporter in the world. Today’s industry’s choices for sustainable materials have altered as a result of growing knowledge of several environmental concerns. Canadian Wood makes an effort to minimise harm to the environment and human health while utilizing less energy, water, and materials in order to attain sustainability.

Plastic Additives Market to Grow at 4.6% CAGR through 2032 Amid Surging Demand from the Packaging Sector

The global market of plastic additive is anticipated to reach a value of US$ 66.6 Bn by 2032, expanding at a 4.6% CAGR over the forecast period. Significant production volume of plastic all over the globe is driving sales of plastic additives to improve the quality and functionality of different materials.

Expansion in the building and construction sector, rising electric vehicle production, and ongoing development in the packaging sector will augment the growth in the market. Surging demand for polyethylene, polypropylene, polyvinyl chloride, and other types of plastic for packaging applications will push sales of plastic additives market.

With increasing investment by prominent players across emerging countries, rising inflow of foreign direct investment in the automotive and packaging sectors will bode well for the growth in the market over the forecast period.

“Growing demand for packaging materials for various applications, along with increasing production of specialty chemicals across the globe will drive sales in the market in the forthcoming years,” says an FMI analyst.

Key Takeaways:

· By product type, the plasticizer segment is expected to account for about 31.6% of the overall market share.

· Based on plastic type, the polyethylene and polypropylene segment is expected to account for more than 48% of the overall consumption.

· In terms of end use, sales in the packaging segment will increase at a 4.9% CAGR over the assessment period.

· India will emerge as a lucrative pocket in South Asia plastic additives market, accounting for 2/5th of the total market share.

· Sales in the China plastic additives market are expected to gain traction at a 5.3% CAGR over the assessment period.

Competitive Landscape

Some of the top plastic additives manufacturers include BASF SE, Clariant AG, Albemarle Corporation, Songwon Industrial Co., Ltd., Nouryon, LANXESS AG, Evonik Industries AG, Kaneka Corporation, Dow, SABIC, Exxonmobil, Mitsui Chemicals, and Badische Anilin- und SodaFabrik SE.

Key players are focusing on expanding their production capacity to increase their global presence and to improve sales. Further, players are also investing in product innovation. For instance:

· In September 2020, Covestro acquired Koninklije DSM N.V.’s resin and functional material business, as well as additives manufacturing, advanced solar coating, and the Niaga innovation project.

These insights are based on a report Plastic Additives Market by Future Market Insights

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