INDIA: Vertiv (NYSE: VRT), a global leader in critical digital infrastructure, today announced the launch of its new Vertiv Training Academy and Technology Excellence Center at its Integrated Business Services (IBS) center in Pune, India. The launch reinforces the company’s dedication to talent development, operational excellence, and technological enablement across global data center and digital infrastructure segments.

The Academy is designed to deliver immersive, hands-on learning experiences for diverse segments such as colocation/cloud, enterprise, communication networks, and commercial and industrial data center sectors. The center’s programs cater to Vertiv service engineers, technical sales specialists, business partners, and practitioners hoping to get practical experience and insights in the rapidly changing digital landscape. The Academy’s unique open-format environment integrates live demonstrations of advanced cooling distribution units (CDUs), power switchgear systems, three-phase uninterruptible power supply (UPS) modules, and thermal management solutions, replicating real-world operating conditions with actual equipment in modern data centers.

In addition to the educational purposes, the facility features advanced engineering and R&D laboratories in the Technology Excellence Center, aimed at driving innovation in power and thermal management solutions. These labs enable end-to-end testing, validation, and optimization of the Vertiv suite of critical digital infrastructure solutions for enhancing energy efficiency, reliability, and environmental responsibility for data centers and telecommunications applications globally.

“Pune has become a strategic global delivery hub for Vertiv, with plans to scale rapidly,” said Subhasis Majumdar, managing director, Vertiv India. “With the surge in AI investments in the data center space, we expect a significant demand for a skilled, adapted, and updated workforce. This training academy we’re inaugurating today will play a pivotal role in training and upskilling engineers and customers to design and service both new and existing data centers.”

“India is an integral part of the Vertiv global services ecosystem, enabling us to deliver consistent excellence and agility to customers worldwide,” said Ryan Jarvis, vice president, global services business unit, Vertiv. “The launch strengthens our ability to scale capabilities and embed best practices across regions. It reflects how our teams in India actively contribute to the company’s mission of enabling the continuity, efficiency, and future readiness of critical digital infrastructure in advanced power and cooling solutions.”

“This initiative lays the foundation for equipping technical talent not just within Vertiv, but also for global partners and customers who rely on us for mission-critical infrastructure,” said David Yao, senior director – Pune Hub, Vertiv. “By combining experienced trainers with live systems, digital tools, and advanced labs, we are advancing the skills needed to deliver installation, maintenance, and continuous improvement in high-density data center environments. Beyond capability building, the Vertiv Academy serves as an enrichment engine for our engineering teams, deepening their domain expertise, fostering cross-functional innovation, and accelerating career pathways. The Academy and Technology Excellence Center stand as a testament to Pune’s evolution into a global hub for talent and innovation.”

The facility features five dedicated training bays covering core product pillars, enabling participants to gain applied skills and experience in power systems, cooling architectures, and monitoring technologies. Learners engage through real-time implementation work in controlled conditions that simulate customer environments and equip teams to apply the Vertiv standards of reliability, safety, and efficiency. The content is modular and evolves in sync with Vertiv’s product suite roadmap and global best practices.

The Training Academy and Technology Excellence Center operate as a part of the broader Vertiv Hub/IBS strategy and Hub Academy curriculum, focused on talent development and continuous improvement across Vertiv’s global delivery network. This dedicated hands-on facility also serves as a hub for AI, advanced power and cooling technologies, and next-generation white space solutions, fostering continuous learning, innovation, and a high-performance culture.

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The recognition highlights CGHFL’s strong portfolio growth, sound asset quality, and its mission to make home financing more accessible for underserved communities. By catering to informal-income households with flexible credit models and customer-first services, the company continues to make homeownership a reality for many across India.

Speaking on the achievement, Rajesh Sharma, Managing Director, Capri Global Capital Ltd., said, “This award reaffirms our long-term commitment to financial inclusion and the dream of homeownership for every Indian. Our growth has been driven by a clear focus on affordability, trust, and last-mile delivery. We remain dedicated to empowering aspiring homeowners in semi-urban and rural India through responsible lending and digital innovation.”

In FY25, CGHFL achieved 24% growth in its loan book, most of which supported first-time homebuyers in semi-urban and rural areas. This momentum stems from the adoption of digital tools and a sharp understanding of borrower needs. By blending technology-led processes with a strong on-ground network, CGHFL ensures faster approvals, greater transparency, and a seamless lending experience.

This recognition reinforces Capri’s contribution to India’s housing finance landscape and its commitment to being a trusted financial partner for families building a secure and self-reliant future.

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The IsDB Group, comprising the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development (ICD), and the International Islamic Trade Finance Corporation (ITFC), leverages its diverse tools to support member countries in achieving their development goals.

The PSF 2024 Awards honors exceptional achievements, groundbreaking innovations, and impactful initiatives by market practitioners driving positive change through Shariah-compliant financial instruments in the areas of trade finance, export credit, and private sector development, in six categories:

ICIEC:

Export Credit Agency of the Year: Kazakh Export

The ICIEC cooperated with Kazakh Export, for the export of locomotives to Azerbaijan Railways by providing insurance support for a US$29.8 million lease finance facility of 10 ‘Evolution – Type’ diesel locomotives to Azerbaijan Railways for 10 years while supporting intra-OIC trade and meeting SDG 9 of the UN.

 Most Innovative Investment Development Initiative of the Year: African Development Bank (AfDB)

The ICIEC has signed a risk-sharing arrangement with the African Development Bank (AfDB) to support financing dedicated to ESG projects in Côte d’Ivoire. The ICIEC has provided an insurance capacity of EUR194 million (US$210.13 million), backstopping the EUR400 million (US$433.25 million) partial credit guarantee (PCG) issued by the AfDB against the non-payment risk associated with a facility of EUR533 million (US$577.31 million) extended by Standard Chartered Bank to the government of the Côte d’Ivoire.

ICD:

Most Impactful Islamic Financial Institution of the Year: Kazakhstan’s JSC Leasing Group

ICD issued last year a Tenge-denominated Sukuk which was rated “A+” by Fitch. With a size of KZT 2 billion, this is the first sukuk in the national currency of one of the Commonwealth of Independent States (CIS).

The sukuk proceeds were used to support Kazakhstan’s JSC Leasing Group’s on-lending activities. The ultimate beneficiaries are mostly small and medium-sized enterprises. With the volatility in currency markets representing a major risk for companies with revenues in local currency, ICD provided a local currency financing solution to Leasing Group.

Leasing Group is listed on the Kazakhstan Stock Exchange.

Most Impactful ICD Investee Company of the Year: Tunisia’s Wifak Bank

Tunisia’s Wifak Bank made the transition to a fully-fledged Shariah-compliant bank in 2016, while the ICD participated in the capital increase reserved for strategic partners including the Tunisian sovereign wealth fund and other Tunisian investors. In line with ISO 26000 standards, Wifak is quantifying its carbon footprint and is attempting to reduce it while also making progress on SDGs 5, 8, 9, and 17. Wifak’s Fitch rating outpaces the sovereign rating as it provides 55,000 individuals/SMEs with access to financial resources and employs over 300 local talents while collaborating with a fintech company to introduce digital payments.

ITFC:

Trade Finance Deal of the Year: Turk Eximbank

ITFC has awarded Türk Eximbank the “Trade Finance Deal of the Year” award. This recognizes their long-standing partnership and Türk Eximbank’s key role in expanding ITFC’s private sector initiatives in Turkey. Since 2009, ITFC has provided Türk Eximbank with approximately US$3.5 billion in financing, with an impressive US$3.2 billion mobilized from external sources.  This collaborative effort has significantly impacted Turkey’s trade landscape, with a particular focus on SMEs and the textile sector.

Outstanding Contribution to Intra-OIC Trade Development: Foreign Trade Training Centre (FTTC)

ITFC has awarded the Foreign Trade Training Centre (FTTC) the “Outstanding Contribution to Intra-OIC Trade Development” award.  This recognizes the FTTC’s dedication to boosting Egypt’s global trade position and its successful partnership with ITFC. Founded by the Egyptian Ministry of Trade & Industry, the FTTC plays a vital role in developing export professionals and strengthening trade ties within the OIC.  Through ITFC-supported programs like TREE and STEP, the FTTC has trained hundreds of new exporters and entrepreneurs, contributing to Egypt’s goal of reaching USD 100 billion in exports within five years.

The winners were announced and awarded on Sunday, April 28^th during the 2024 Private Sector Forum at the InterContinental Hotel in Riyadh.

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“Cyber issues are a priority in the U.S.-India bilateral relationship,” Hankey said.  “The challenge before the United States and India is how to minimize cybersecurity threats and ensure that the digital revolution enhances global prosperity and stability.” 

The new Initiative will connect research institutions, industry, and civil society in both countries to improve cybersecurity infrastructure, create commercial opportunities in cybersecurity, and boost professionals’ cybersecurity skills.  Leading U.S. cybersecurity companies participated in the launch and offered to deliver skills training to Indian partners.  Pune sister cities Austin, Texas, and San Jose, California, as well as leading U.S. research universities, have expressed interest in supporting the initiative. 

Hankey said the Cybersecurity Initiative in Pune was a symbol of the close collaboration between the United States and India.  “We need to improve our ability jointly to respond to and recover from cyber threats.  Our two countries have a variety of collaborations on cybersecurity capacity-building, cybersecurity research and development, combating cybercrime, international security, and internet governance,” he said.

Hankey said the Initiative’s launch “comes at a critical time as digital technologies have advanced more rapidly than at any other time in human history.”  He reiterated that a secure, resilient, and stable cyberspace is fundamental for the development of the public and private sectors and for people worldwide to benefit from the free flow of information online. 

“We are observing extraordinary transformations in artificial intelligence, advanced telecommunications, critical and emerging technologies, bioengineering, and energy,” Hankey said.  “While these advancements provide economic and social benefits to citizens, businesses, and governments around the world, cybersecurity for the growth of the digital space is a critical area of concern.” MCCIA President Deepak Karandikar and Director General Prashant Girbane also reiterated the center’s strategic importance to citizens, businesses, and governments.

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BENGALURU: Flipkart, India’s homegrown e-commerce marketplace, today announced a strategic partnership with Polygon Companies, a developer of the leading Ethereum scaling protocol offering scalable, affordable, secure, and sustainable blockchains for Web3. The partnership will result in the setting up of a Blockchain-eCommerce Centre of Excellence (CoE) that will work on research and development of Web3 and metaverse commerce use cases in India to accelerate the adoption of Web3.

This partnership comes amidst Flipkart’s many excursions in Web3 in recent times. Earlier this year, Flipkart announced Flipkart Labs, the innovation wing, to incubate various solutions to bring innovation to the e-commerce scene in India. With Labs, Flipkart ventured into Web3 and Metaverse commerce to explore NFTs, Virtual Immersive stores, and other Blockchain-related use cases. Since then, Flipkart has launched FireDrops, an easy-to-use NFT platform for brands to explore new horizons of community building and pivot the value of NFTs around utilities. During the festive sale, Flipkart also partnered with eDAO to launch a virtual shopping experience in the metaverse – called Flipverse. Flipverse enabled brands to organize unique product launches and create engaging experiences for users within a hyper-realistic, game-like environment.

Jeyandran Venugopal, Chief Product and Technology Officer, Flipkart, stated, “Innovation is one of the main pillars for Flipkart and we have consistently worked towards technology solutions to scale new frontiers and introduce new products and services. We are delighted to partner with Polygon, a company that is at the forefront of blockchain innovation, nationally and internationally. With the COE, we look forward to working with them and leveraging their expertise and technical know-how to successfully onboard users not just to the value proposition of Web3 or Metaverse commerce but also Web3 in general.”

Commenting on the partnership, Naren Ravula, VP, Head of Product Strategy at Flipkart and Head of Flipkart Labs, said, “Our partnership with Polygon exhibits our technology-driven mindset with an endeavor to transform the shopping experiences for millions of users and redefine the future of commerce, consumption, and value creation. The partnership brings expertise from the world of e-commerce and Blockchain and lays the foundation for innovation at a protocol, platform, and product-level for decentralized e-commerce in India, especially through brand collaborations and initiatives like 3D storefronts, novel NFT drop mechanisms, trustless standards for commerce, on-chain loyalty, and play-to-earn experiences. We look forward to continuing our work with Polygon and adding value to the e-commerce ecosystem by creating opportunities for innovative interactions with customers.”

Sandeep Nailwal, Co-Founder of Polygon says, “We are excited to partner with Flipkart to create the Centre of Excellence. Polygon’s mission is to bring the next billion users to Web3 and this partnership will pioneer research and development at the intersection of Web3 and experiential retail which will advance adoption and impact in India and across the world. We see the Blockchain-eCommerce Centre of Excellence as an engine for the evolution of e-commerce in the years to come.”

Web3 is an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economics, especially the realm of NFTs and digital collectibles, which have evolved significantly in recent years, with brands finding new avenues to create value for themselves and their users. However, it’s still in its early days and decentralized technologies are yet to become more mainstream. This partnership between one of India’s leading digital commerce entities and the leading Ethereum scaling protocol will be an opportunity to create a large impact and deliver on the promise of Web3 for all.

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