This landmark project involves EUR 1.044 billion in non-recourse financing for the development of a 35-kilometer greenfield motorway in Istanbul Province—the final section of the Northern Marmara Motorway, a 450-kilometer corridor connecting Türkiye’s Asian and European regions. The public-private partnership is expected to significantly reduce traffic congestion, improve trade logistics, and cut commute times by up to 40 minutes.

The project aligns with multiple UN Sustainable Development Goals (SDGs), notably SDG 8 (Decent Work), SDG 9 (Infrastructure), SDG 11 (Sustainable Cities), and SDG 17 (Partnerships), by creating jobs, modernizing transport infrastructure, and fostering international cooperation.

ICIEC played a pivotal role in the financial close by offering a comprehensive risk mitigation solution, including a EUR 74 million Non-Honoring of Sovereign Financial Obligations (NHSFO) policy to Standard Chartered and Deutsche Bank, and Equity Investment Insurance to Korean investors.

“This award reflects the strength of our partnership with the Government of Türkiye, our member institutions, and the private sector,” said Dr. Khalid Khalafalla, CEO of ICIEC. “We are particularly proud to have supported this project alongside other Export Credit Agencies and Multilateral Development Banks—most notably our parent institution, the Islamic Development Bank, and our sister entity, the Islamic Corporation for the Development of the Private Sector. Together, we leveraged synergies to mobilize Islamic finance and de-risk strategic infrastructure. Congratulations to all parties involved in delivering a project with lasting developmental impact.”

This transaction exemplifies ICIEC’s mission to provide innovative risk mitigation solutions that enable impactful trade and infrastructure investment across its 50 member states.

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AHMEDABAD: Adani Cement and CREDAI (Confederation of Real Estate Developers’ Associations of India) have entered an exclusive preferred partnership to advance sustainable and high-quality construction in India. The signing took place in the presence of Hon’ble Chief Minister of Goa, Shri Pramod Sawant, during the CREDAI Governing Council Meeting held in Panjim, attended by industry body office bearers and leading developers from across the country.

This strategic alliance brings together Adani Cement and the country’s apex body of private real estate developers, aiming to benefit both organisations and the broader construction industry. Under this collaboration, Adani Cement will leverage CREDAI’s nationwide network of 13,000+ developers to strengthen its B2B outreach, while CREDAI members benefit from Adani Cement’s industry-leading solutions.

Vinod Bahety, CEO – Cement Business, Adani Group, stated: “Our exclusive partnership with CREDAI is a testament to Adani Cement’s commitment to nation-building through sustainable and innovative construction. By joining hands with CREDAI, we aim to accelerate the adoption of world-class cement products and green concrete solutions in India’s real estate sector. This collaboration aligns perfectly with our vision of building a greener, smarter urban future – one where Adani Cement’s technical expertise and CREDAI’s on-ground experience come together to create stronger, safer, and more sustainable structures. We are excited to work closely with CREDAI members and support them with the best of our materials and R&D capabilities, ultimately delivering superior value to homeowners and contributing to India’s growth story.”

In practice, the industry body members will have the advantage of enhancing their project quality in various parameters, including:

• Availability of Adani Cement’s Innovative Concrete Solutions: Availability of Adani’s diverse Ready-Mix Concrete (RMX) and advanced concrete solutions customised to varied requirements, from standard grades to specialised mixes. Notably, this includes Adani Cement’s green RMX range like ECOMaxX ultra high-performance concrete (UHPC), which offers the industry’s broadest range of green concrete with 30–100% lower embodied carbon content compared to conventional concrete. Self-compacting concrete (SCC), Jetsetcrete – high-strength concrete (HSC), and Coolcrete – thermally controlled concrete (TCC) are also included in the range. Such eco-friendly concrete options allow developers to significantly reduce the carbon footprint of their projects without compromising on strength or performance. Adani RMX will soon announce the Environmental Product Declaration (EPD) for all their concrete grades via lifecycle assessment (LCA) carried out recently. Support and ease of availability for Adani’s RMX is rapidly growing with its increasing footprint through 101+ plants across the nation.
• Specialist & Premium Cement Products: Benefit from Adani Cement’s wide range of specialist and premium cement brands, such as the flagship Ambuja Plus and ACC Concrete Plus, known for superior strength and durability. These high-performance products will help developers achieve greater structural quality and durability in their projects. It is noteworthy that around 30% of Adani Cement’s total trade sales come from its premium products.
• GRIHA-certified Green Products: Ambuja’s range of innovative and blended cement products, such as Ambuja Cement, Ambuja Plus, Ambuja Compocem, and Ambuja Kawach, and ACC’s Suraksha, Concrete Plus, Gold, F2R, and HPC, are listed in GRIHA’s (Green Rating for Integrated Habitat Assessment) green product catalogue. GRIHA is a national green rating system developed by the Ministry of New and Renewable Energy, Government of India.
• Advanced Additives & R&D Support: A broad array of advanced additives and admixtures developed through Adani Cement’s deep technical R&D capabilities will now be available for all CREDAI members. This includes proprietary innovations such as Alccofine – a micro fine mineral additive that enhances concrete strength and durability, among other cutting-edge products. Backed by Adani Cement’s state-of-the-art cement and concrete research facilities, these additives enable customised high-performance concrete solutions for complex construction challenges.
• Technical Services: Adani Cement’s technical services team – part of its Adani Certified Technology (ACT) initiative – will closely engage with CREDAI developers to provide material consultancy, quality assurance, and on-site support. Knowledge-sharing initiatives, including Concrete Talks on innovative materials and techniques, will help further build the capabilities of CREDAI’s member engineers and construction professionals. By combining Adani Cement’s material expertise with CREDAI’s execution capabilities, the partnership is expected to raise the bar for construction quality, safety, and sustainability in upcoming projects.

This announcement comes at a pivotal time when India’s cement consumption patterns are undergoing a significant shift. Traditionally, individual home builders (IHBs) in the retail segment constituted the largest share of cement usage, accounting for roughly 60% of demand. However, rapid urbanisation and infrastructural growth have fuelled a surge in B2B demand – large real estate developments and public infrastructure projects are now driving cement consumption at an unprecedented pace. Government-led construction of highways, metro systems, and smart cities, alongside private sector high-rise developments, is contributing to the ‘non-trade’ segment’s momentum, gradually balancing the once IHB-dominated market.

In particular, the rise of high-rise and skyscraper construction is reshaping urban skylines and construction requirements. With India’s urban population projected to exceed 600 million by 2030, vertical development through tall buildings is becoming essential to meet the demand for urban space. These projects require specialised cement formulations and technical know-how to ensure safety and longevity at greater heights. Adani Cement’s deep knowledge and technical expertise in high-strength concrete and new-age building materials positions it as an ideal partner to support such ambitious vertical developments. From supplying concrete optimised for pumping to great heights, to advising on mix designs for faster setting and higher load-bearing capacity, Adani Cement’s experience will help CREDAI developers confidently undertake taller and more complex projects.

CREDAI’s leadership echoed similar optimism, noting that the partnership will empower its member developers with assured supply and advanced know-how from one of India’s top cement producers. With Adani Cement now contributing nearly 30% of the cement used in India’s housing and infrastructure projects, the tie-up ensures that CREDAI builders can directly tap into this robust supply chain and expertise. Both Adani Cement and the industry body expressed confidence that this synergy will propel quality standards, encourage sustainable practices, and expedite project completion times across the real estate industry.

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The first project involves the construction of the Chhatrapati Shivaji Maharaj Sports Complex in Karad, awarded by the Public Works Department (West), Satara. Valued at ₹88.03 crores, the project will be developed for the Karad Municipal Council and is expected to be completed within a 24-month timeline, excluding monsoon interruptions. The second project pertains to the construction of the Divisional Sports Complex at Jalgaon, commissioned by the Divisional Sports Complex Committee. This project carries a contract value of ₹244.31 crores and is slated for completion in 36 months, excluding the monsoon period.

Commenting on the development, Pradeep Khandagale, Chairman & Managing Director of Univastu India Limited, stated, “These state-of-the-art facilities are more than just construction projects; they are an expression of India’s Olympic aspirations. We are proud to contribute to India’s sporting infrastructure, which will not only serve seasoned athletes but also empower local talent and promote grassroots development.”

This announcement comes on the back of strong financial performance by the company. For the financial year ending March 31, 2025, Univastu reported a consolidated revenue of ₹17,117.78 lakhs, marking a substantial rise from ₹12,061.41 lakhs in FY24. Net profit for the same period surged to ₹1,551.26 lakhs, up from ₹1,000.43 lakhs in the previous fiscal year. The company also reported an improvement in earnings per share (EPS), which increased to ₹8.68 in FY25 from ₹6.27 in FY24, reflecting both operational efficiency and robust order execution.

Listed on the NSE, Univastu India Ltd has steadily built a reputation for its execution capabilities, transparent governance, and its diversified portfolio that includes projects across transportation, healthcare, education, and sports infrastructure. With a growing focus on nation-building and development-linked projects, Univastu continues to play a pivotal role in shaping India’s next-generation infrastructure.

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COLOMBO, SRI LANKA: WSO2, the leader in enterprise digital infrastructure technology, today announced the launch of the WSO2 Ambassador Program, a global initiative that celebrates and supports the most passionate voices in its tech community, including developers and architects. This program is designed to recognize individuals who actively share knowledge, inspire innovation, and contribute to the growth of the open-source ecosystem powered by WSO2 technologies.

At the heart of the digital era are developers and architects—the problem-solvers and builders of the digital experiences we use every day. WSO2 recognizes that its success is deeply tied to the passion and ingenuity of its developer community. Developers are not only consumers of WSO2’s open-source platforms for API management, integration, identity and access management, and WSO2’s internal developer platform, Choreo; they are also co-creators, pushing the boundaries of what’s possible, improving the products through feedback, and building impactful solutions that serve millions. Architects, on the other hand, play a critical role in shaping the bigger picture—designing scalable, secure, and future-ready digital architectures that bring developer innovations to life.

“Developers are the driving force behind innovation,” said Isabelle Mauny, Chief Developer Advocate at WSO2. “They are not merely users of our products—they are instrumental in shaping them. Architects help ensure that solutions built on WSO2’s platforms are robust, cohesive, and aligned with long-term business goals. The WSO2 Ambassador Program is our way of acknowledging their contributions and supporting their continued growth. Whether through leading community meetups, publishing technical tutorials, or contributing to our codebase, our ambassadors play a vital role in empowering others to succeed with WSO2.”

WSO2’s commitment to open source goes beyond code—it’s about people. The Ambassador Program is a natural extension of that commitment. By offering mentorship, visibility, and support, WSO2 aims to empower developers to become leaders in their communities and advance their personal and professional growth.

What Ambassadors can expect:

• Skill-building opportunities in community leadership, developer advocacy, and public speaking
• Sponsorship for local events, meetups, and conferences to grow regional communities
• Visibility and recognition through WSO2’s digital channels and media
• Access to exclusive WSO2 events, tools, and swag
• Direct collaboration with WSO2 teams, providing feedback and influence on product direction

The program is open to developers, architects, and technical leaders with experience using WSO2 technology and a passion for empowering others through content, events, and code. Ambassadors can contribute at their own pace, with flexible engagement levels.

“Being a WSO2 Ambassador is not about holding a title—it is about making a meaningful impact,” Mauny explained. “It recognizes those developers who dedicate their time to writing tutorials, answering questions in forums, and mentoring the next generation of technologists. Our goal is to support their efforts, elevate their contributions, and connect them with a global community of peers and innovators.”

Visit the WSO2 Ambassadors Page to learn more about the program, meet our 2025 ambassadors, and find out how you can get involved.

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MUMBAI: In support of the Maharashtra Government’s initiative to solarize public infrastructure, Tata Power has successfully solarized over 230+ public institutions across the state, contributing a total of approximately 107 MW of clean energy capacity. The solar installations cover 100 hospitals (3.6 MW), 64 schools (2 MW), and 72 government and institutional buildings (100 MW) across key districts.

These installations are offsetting 1.3 lakh tonnes of CO₂ emissions, equivalent to planting 20 lakh trees.

This effort is part of Tata Power’s broader commitment to enabling India’s clean energy transition and supporting community-focused sustainability. By equipping critical public facilities with solar power, one of the country’s most trusted and responsible energy providers, Tata Power, is helping reduce energy costs, improve energy reliability, and lower carbon emissions. The company continues to work closely with government bodies to deliver practical and scalable renewable energy solutions that contribute meaningfully to Maharashtra’s green development agenda.

Tata Power has surpassed 1.5 lakh solar installations across India, reaffirming its position as the country’s No. 1 rooftop solar provider. With a total installed rooftop capacity of nearly 3 GW, the company continues to play a vital role in advancing India’s clean energy ambitions. Tata Power Solar Roof business has established a strong presence in 700+ cities, offering consumers up to 80% savings on electricity bills, a 25-year warranty on solar modules, and is also supported by a robust ecosystem of 575+ channel partners in over 300 cities, ensuring reliable last-mile delivery and service.

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MUMBAI: NTT DATA, a global digital business and technology services leader, today announced a series of strategic initiatives reinforcing its continued commitment to the Indian market. Among these, the company announced the commissioning of its Malaysia, India, and Singapore Transit (MIST) submarine cable system by June 2025. MIST is an 8,100-kilometer cable that can carry over 200 terabits per second (Tbps). It is one of the largest cables in Asia and will connect Malaysia, India, Singapore, and Thailand.

It marks a milestone as NTT DATA’s first cable system to establish direct connectivity to and from India, enhancing global connectivity and adding critical infrastructure for the country’s rapidly growing digital economy. MIST was connected to NTT DATA’s Mumbai landing station in February 2023 and its Chennai landing station in May 2023.

NTT has been growing and investing in India for over a decade. Adding to that, NTT DATA has now opened its biggest data center campus in India, a facility that can hold over 500 MW of power, when fully operational. The company operates almost two-thirds of its data centers in India on renewable energy. It is committed to using 100% renewable energy by 2030 in all its data centers and operations. Featuring advanced infrastructure, including an underground tunnel for seamless connectivity and cooling technologies, the campus highlights safety, innovation, and sustainability.

As the third-largest data center provider globally, and the largest in India, NTT DATA is scaling its global capacity from over 1,500 MW to exceed 2,000 MW. With significant growth in India, where it holds the leading market share, it aims to add 400 MW more in the coming years. NTT DATA is the only data center service provider with over 200 MW of AI load already deployed worldwide. While the world is talking about being AI-ready, NTT DATA is AI-experienced.

NTT DATA also announced that it is upgrading and expanding its Innovation Centre in Bengaluru, India. The center will focus on AI, digital twin, and quantum computing projects. With this, the company has 11 global innovation centers across 11 countries that will boost the hiring of specialized talent to manage projects for global companies, driving AI-led technology solutions, particularly with agentic AI.

Dedicated to boosting connectivity, NTT’s Innovative Optical and Wireless Network (IOWN), a next-generation All-Photonics Network (APN) technology has been used to interconnect data centers in the Mumbai region, facilitating higher performance data transmission at lower costs. IOWN’s first information and communication processing infrastructure in India is in its early implementation stages. It aims to provide fast, high-capacity network access using photonics-based technologies. NTT is working hard to make this technology available to organizations globally by 2030, to support the growing AI-driven global data volume which is likely to reach a capacity of 175 zettabytes by 2025 – nearly triple from 2020 to 2025, as per IDC’s ‘Data Age 2025’ paper. It elaborates – if we were to store 175 zettabytes on DVDs, the stack of DVDs would be long enough to circle Earth 222 times.

“India is key in our global strategy, fuelled by its rapid economic and digital expansion.  We’re proud to say that NTT DATA has powered the IT infrastructure in India and globally, notably in data center capacity. Currently, India is one of our top 10 revenue-generating markets,” said Akira Shimada, President and CEO, of NTT. “We are investing 8 trillion Yen (US$59 billion*) globally over 5 years from FY2023 to FY2027 into growth areas, including data centers and AI. We are committed to delivering our integrated full-stack proposition to our clients across Data Centers, Networks, Applications, BPaaS, Managed Services, Cloud, Security, and AI solutions.”

“We are proud to accelerate India’s digital future with the commissioning of MIST—the latest milestone in strengthening global digital highways that connect new markets and power AI innovation. Our MIST cable landing at the Gateway of India, Mumbai truly serves as India’s gateway to the world,” said Abhijit Dubey, CEO, of NTT DATA, Inc. “Our USD 3 billion investment in India’s digital infrastructure over the last decade reflects our confidence in the region’s exceptional talent and robust tech ecosystem. We remain committed to expanding our presence and strategic investments in the country that will elevate India to one of our top five markets within the next three years.” 

“The Indian economy is currently in a growth phase both as a top market and a hub of innovation, talent, and opportunity,” said Avinash Joshi, CEO, India, NTT DATA. “Over the years we have grown through acquisitions and currently have 3000 clients in India. We will continue to build on this momentum to drive transformation across key industries such as banking, manufacturing,g and automotive. We are witnessing an era of evolutionary tech and are confident in our ability to robustly meet the demand in the areas of technology solutions, data centers, infrastructure management, and applications.”

*At the exchange rate of 1 USD = 135.2 JPY as of May 10, 2023, according to NTT’s financial announcement date.

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MUMBAI: Qlik^®, a global leader in data integration, analytics, and artificial intelligence (AI), announced its new cloud region in India today. Located in Mumbai, this strategic investment enhances Qlik’s global cloud infrastructure. It deepens its long-term commitment to the Indian market, meeting the growing demand for local data storage, regulatory compliance, and advanced AI capabilities.

The new cloud region empowers Indian customers to utilize Qlik’s AI-powered, enterprise data and analytics solutions while ensuring compliance with local data sovereignty requirements. By storing and working with data within India, Qlik’s customers can deliver better business outcomes while adhering to stringent data residency requirements. This expansion will enable businesses across various sectors, including finance, banking, automotive, public sector, and healthcare, to leverage advanced analytics and AI capabilities for improved decision-making.

“As one of India’s largest public sector enterprises, IndianOil is committed to utilizing data intelligence for operational efficiency and sustainability across our energy grid. Qlik’s first cloud region in India will surely empower businesses to access data faster. Such cloud offerings will provide the scalability and security needed to manage extensive datasets, supporting large organizations to make informed, data-driven decisions,” said Suresh Nambiar, Executive Director of Information Systems), Indian Oil Corporation Limited.

“The launch of our cloud region in India is a strategic move that directly addresses the unique needs of our customers in this vital market. As businesses in India navigate an increasingly complex regulatory landscape, our new cloud capabilities ensure they can harness the full potential of AI with confidence in their data sovereignty and compliance. This investment underscores Qlik’s commitment to delivering tangible AI outcomes globally, enabling Indian enterprises to transform their data into a competitive edge responsibly and effectively,” said Mike Capone, CEO of Qlik.

“This marks a pivotal moment for Qlik and our customers in India,” said Varun Babbar, Managing Director – India & SAARC, Qlik. “As the regulatory landscape evolves, businesses increasingly demand advanced, AI-driven cloud solutions that ensure compliance with local data localization requirements. By establishing our cloud infrastructure, we are committed to helping organizations optimize data management, enhance data security, and reduce the complexities and costs associated with cross-border data transfers. Our local cloud services empower businesses to propel innovation, improve operational efficiency, and contribute to India’s digital economy.”

The cloud region will deliver:

• Data residency compliance: Customer data will be stored and processed within India, aligning with local privacy laws. This approach will not only mitigate geopolitical risks but also cater to India’s unique regulatory landscape.
• Low latency and enhanced performance: By keeping data closer to end-users, Qlik reduces latency, enabling faster access to services and more stable operations, resulting in improved user experience.
• AI-powered cloud capabilities: Customers can benefit from Qlik’s advanced AI features, like Qlik AutoML and Qlik Answers, for rapid data analysis and automated workflows. These tools help organizations extract actionable insights from unstructured data, fostering innovation and informed decision-making.
• Local support and services: Access to responsive, localized customer support, ensuring tailored solutions that meet specific business needs.
• Scalability and innovation: Support Qlik’s growing customer base to double our market share in India by 2026, fostering both scalability and innovation within the local business ecosystem.

In addition to enhancing customer experiences, the new cloud region will create new job opportunities in India, which is currently Qlik’s second-largest employee base in the Asia Pacific region. This expansion will involve hiring across sales, presales, consulting, and professional services, with a strong emphasis on AI and data governance expertise. Qlik is dedicated to investing in local talent and resources, positioning India as a key hub for research and development (R&D), customer support, and marketing initiatives.

For more information about Qlik’s India cloud region launch and other updates, please visit Qlik’s website.

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PUNE: As India advances toward a projected ¹$5 trillion GDP by 2027, significant investment opportunities are emerging across large, mid, and small-cap segments.

In response to this potential, Groww Mutual Fund recently hosted an event in Pune, where the Groww Mutual Fund team introduced the Groww Multicap Fund—a fund designed to offer investors exposure across India’s market segments.

The event provided mutual fund distributors with insights on how a multi-cap approach seeks to capture India’s evolving economic landscape, empowering them to better guide their clients. During the session, Anupam Tiwari, Head of Equity at Groww Mutual Fund, highlighted key growth opportunities driving India’s economic progress.

Export expansion, driven by initiatives like the Production Linked Incentive (PLI) scheme and Make in India, is positioning India as a competitive player on the global stage. Infrastructure development is another major driver, with the ₹111 lakh crore ²National Infrastructure Pipeline (NIP) set to enhance connectivity and productivity across the country by 2025. Additionally, rising demand for 3premium goods in sectors such as real estate, automotive, and jewelry reflects India’s shift toward high-value consumption.

Digitization is accelerating growth across technology, manufacturing, and consumer services, creating new pathways for economic progress. Furthermore, expanded access to capital and supportive policies are enabling small and mid-cap companies to thrive, particularly in sectors like infrastructure, financial services, and IT. Finally, rapid urbanization is fueling demand for consumer goods, housing, and services to meet the needs of an expanding urban population.

Together, these growth drivers provide multi-sector opportunities across large, mid, and small-cap companies, forming a strong foundation for India’s economic expansion and wealth creation.

To leverage India’s diverse growth potential, a multi-cap approach provides exposure across large, mid, and small-cap companies, capturing broad-based growth. The Groww Multicap Fund will help investors access opportunities across sectors, investing in high-quality stocks at reasonable valuations to support long-term wealth creation.

Manish Ranjan, Head of Sales and Distribution at Groww Mutual Fund, emphasized the crucial role mutual fund distributors play in helping investors understand how products like the Groww Multicap Fund may provide access to India’s growth potential. Pune currently ranks 4th nationwide in its contribution to India’s total AUM, accounting for 4.12% of the country’s ⁵₹68 lakh crore asset base. This underscores the important role distributors have in guiding investors through these emerging opportunities.

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The extended R&D facility with an additional new area of 43,000 sq ft will enable the brand to potentially double its R&D manpower strength as well. With NABL Accredited labs and advanced state-of-the-art infrastructure enabling a more efficient and robust product development process, this expansion is part of Godrej’s long-term strategy to deliver cutting-edge and energy-efficient products to consumers. The building itself is also designed sustainably – the premises utilize natural light to the maximum, aiming to drastically cut down electricity costs.  The office space has been designed to drive collaboration, and enable learning and knowledge sharing. The new age open office design encourages celebration and transparency.

Commenting on this, Kamal Nandi, Business Head and Executive Vice President – Godrej Appliances, part of Godrej & Boyce said, “At Godrej Appliances, we recognize that product development is the backbone of our brand. Therefore, we have made significant R&D investments to drive innovation, which we believe is crucial for our success. Our commitment to this belief is reflected in the expansion of our R&D facility.

This enhanced R&D setup which brings our cumulative R&D investment spending in Pirangut to close to Rs. 100 Cr, underscores our dedication to delivering top-notch products that cater to our customers’ evolving needs. With this expansion, we are poised to accelerate our product development timelines and introduce more advanced appliances to the market in the coming times.”

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