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University of Southampton opens India's first foreign varsity campus

University of Southampton opens India's first foreign varsity campus

Business Standard19 hours ago
The Gurugram campus marks the first operational foreign university in India under NEP 2020 reforms, offering UK-aligned UG and PG courses and enabling student mobility
Sanket Koul New Delhi
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Union Education Minister Dharmendra Pradhan on Wednesday inaugurated the Gurugram campus of the UK-based University of Southampton, making it the first foreign university to operationalise its campus in India.
The university received its official letter of intent from the Union education ministry in August last year, followed by a public announcement and formal launch on September 13, 2024.
The development follows the University Grants Commission's 2023 notification of rules facilitating the entry of foreign higher education institutions into India as part of the National Education Policy 2020 reforms.
Under these regulations, foreign institutions seeking to establish campuses in India must
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Kumbakonam residents urge Centre to sanction new rail line between Needamangalam and Vriddhachalam
Kumbakonam residents urge Centre to sanction new rail line between Needamangalam and Vriddhachalam

The Hindu

time19 minutes ago

  • The Hindu

Kumbakonam residents urge Centre to sanction new rail line between Needamangalam and Vriddhachalam

Train travellers and residents of Kumbakonam have urged the Union government to sanction a new railway line between Needamangalam and Vriddhachalam via Kumbakonam and Jayamkondam. The new rail line, if built, would give a fillip to economic growth in the hitherto unserved areas and spiritual tourism in the State, they said. Representations in this regard have been sent to Prime Minister Narendra Modi and Railway Minister Ashwini Vaishnaw by the Kumbakonam All Traders Association and Thanjavur District Railway Users Association. 'The benefits of a new railway line of less than 100 km between Needamangalam and Vriddhachalam would bring huge economic benefits,' says V. Sathyanarayanan, Secretary, Kumbakonam All Traders Association. The line could provide connectivity to Gangaikonda Cholapuram, where the famous Brihadisvara Temple built by King Rajendra Chola I is situated. With the Prime Minister scheduled to visit Gangaikonda Cholapuram later this month, it would be apt for the Railway Ministry to announce new rail line now, Mr. Sathyanarayanan said. Kumbakonam is an important spiritual, commercial, and historic city in Tamil Nadu. It is located in the single line section between Thanjavur and Villupuram on the 147-year-old Main Line section of Southern Railway. The Mahamaham festival, popularly known as the Kumbh of the South, is celebrated here once every 12 years. The city attracts continuous flow of pilgrims from different parts of the country through the year as it is also the hub for visiting the Navagraha temples. Yet Kumbakonam is neglected in terms of traffic and development as it has not been upgraded as a junction, he regretted. The demand for this new line had been in existence for over 50 years ago and a question in this regard had been raised even in Parliament in 1955, said A. Giri, secretary, Thanjavur District Railway Users Association. Considering the repeated demand, a preliminary survey was conducted for a new line between Kumbakonam and Vriddachalam in June 2016. The project is awaiting approval ever since, he said. The new line between Needamangalam and Vriddhachallam via Kumbakonam will provide an alternative shorter route to Salem, Bengaluru, Tirupati and other destinations from Rameswaram and southern Tamil Nadu via Pattukottai and Mannargudi. It would ensure speedy movement of freight traffic from Karaikal Port and boost spiritual tourism as it would connect places such as Kumbakonam and Gangaikonda Cholapuram. By providing train connectivity to under developed places such as Gangaikonda Cholapuram, Jayamkondam, and Andimadam, it would boost economic growth in the region, Mr. Giri added.

DLF re-enters Mumbai market with ₹800 crore premium housing project
DLF re-enters Mumbai market with ₹800 crore premium housing project

Business Standard

time19 minutes ago

  • Business Standard

DLF re-enters Mumbai market with ₹800 crore premium housing project

Gurugram-based DLF, India's top listed real estate developer, has entered the Mumbai market with a premium residential development, investing Rs 800–900 crore in the first phase of the project, which is estimated to generate Rs 2,300 crore in revenue. The first phase of the project, The Westpark, comprising four 37-storey residential towers and 416 residences, will be delivered in the next four years. It spans 5.18 acres and is part of a larger 10-acre master plan with eight distinctive towers. The company has partnered with Trident Realty, another Gurugram-based developer with ongoing projects in Mumbai. The project falls under the Slum Rehabilitation Authority (SRA) scheme. However, DLF will oversee only the greenfield portion, while Trident will handle the SRA component. DLF holds a 51 per cent stake in the project; the remaining 49 per cent is held by Trident. The development will offer a mix of 3- and 4-BHK residences ranging from 1,125 to 2,500 sq ft, along with a limited number of exclusive penthouses. Prices will range from Rs 37,000 to Rs 47,000 per sq ft — effectively Rs 4.5–8 crore per unit. The second phase of the project is likely to be launched next year and is expected to generate revenues of Rs 2,300–2,500 crore. Aakash Ohri, joint managing director and chief business officer, DLF Homes, said the company aims to diversify its portfolio and takes Mumbai 'very seriously'. 'Mumbai and Delhi are going to be two big markets (for us) because they're the ones who are going to give us our returns,' he added. Ohri stated the company has already received 5–20 project proposals in Mumbai. 'We want to start and get this product off the ground first, show some strength and ability, and then get down to doing it (more projects in Mumbai),' he added. The company is banking on its lifestyle-oriented developments and strong balance sheet. 'What we bring to the table is the lifestyle story. This is the difference between everybody else and DLF. DLF will not operate in any city, including Gurugram, if the margins are not conducive to DLF; we don't have to. Today, we are a debt-free company; we are cash-rich, we have got land banks to carry us for the next 25 years. Why do I need to get into any stress? I don't need to prove anything,' Ohri said. DLF had earlier exited Mumbai in 2012 as part of its deleveraging strategy. It sold a prime 17-acre land parcel in Lower Parel to Lodha Developers for Rs 2,700 crore to reduce debt. 'That (Mumbai exit) was part of our development plan. Out of 22 cities, one didn't work out. Fine. At that point in time, Gurugram was also good and needed a lot of attention. Gurugram was where a lot of our future interests and the business were. (In that land deal) we got out at a good premium. It was not a loss,' Ohri said. This time, the company is confident and has received a positive response from channel partners. 'It's just that there's never a right or wrong time. Even the markets are different and far more mature and conducive. You cannot not be in Mumbai, being a national player. Competition is always good,' Ohri added. Mixed response from sector experts Industry experts have expressed mixed sentiments. Gulam Zia, senior executive director at Knight Frank India, said DLF has entered the market at a time when signs of fatigue are visible and the cycle is nearing its peak. 'The next 2–3 years will be tough. You need to be invested in the property long enough to reap the benefits. Since it's a large property of more than 17 acres, they will be developing it over at least one or two market cycles. So, entry will be tough,' Zia added. He also noted that buyers in Mumbai may not be enamoured by the luxury brand DLF has built in Gurugram. However, a sector analyst, speaking on condition of anonymity, said the company may benefit from its brand, the project's location, and the vibrancy of Mumbai's real estate market. 'The company wants to have a footprint in a market like Mumbai and better realisations,' the analyst added. Another industry expert, who did not wish to be named, noted that DLF may face challenges due to the hyperlocal nature of real estate and strong competition from well-established Mumbai-based developers.

Kinetic Green, Tonino Lamborghini join hands to enter e-carts biz; eye $1 bn turnover in 10 yrs
Kinetic Green, Tonino Lamborghini join hands to enter e-carts biz; eye $1 bn turnover in 10 yrs

Time of India

time19 minutes ago

  • Time of India

Kinetic Green, Tonino Lamborghini join hands to enter e-carts biz; eye $1 bn turnover in 10 yrs

Kinetic Green on Thursday joined hands with Italy's Tonino Lamborghini to roll out golf and lifestyle carts for global markets with expectations to corner a USD 1 billion turnover over the next decade. The Pune-based electric vehicle maker will hold 70 per cent stake in the joint venture firm -- Kinetic Green Tonino Lamborghini (KGTL), with the Italian firm holding the rest of the 30 per cent stake. In an interaction with PTI here, Kinetic Green Founder and CEO Sulajja Firodia Motwani said the JV is eyeing 10 per cent market share of the electric cart business globally over the next ten years. "It is a USD 5 billion market growing at 8-9 per cent yearly, so over the next ten years it will become a USD 10 billion market," she said. The JV has set its sights on reaching USD 300 million topline in the next five years via entry across 25-30 geographies, including the US, Europe and Asia, Motwani said. "Over the next ten years, we would like to see it (e-carts biz) turn into a 10 billion dollar business globally, and we could claim a 10 per cent market share," she added. Motwani noted that the JV intends to raise and invest around USD 20 million through various routes over the next 12 months. "We have already invested between USD 2 million and USD 3 million in the JV. We further plan to invest another USD 2 million over the next 12 months," she stated. In addition, efforts are in to tap banking facilities and term loans for about USD 5 million, she said. Besides, there are various family offices that want to invest in the business, she said, adding that it could be in the range of USD 10 million. The global market for electric carts is around 5 lakh units per annum, with the US being the biggest market, followed by Europe and Asia. Electric carts are used in golf courses, resorts, airports, townships, etc. Usually, electric carts come with a driving range of 80-150 km and are priced between USD 10,000 and USD 14,000 per unit. In India, around 1,500 units are sold yearly. "Our JV will leverage the long legacy of the Kinetic Group in automotive engineering and the experience of our partner, Tonino Lamborghini's global experience in redefining design and lifestyle experiences, and to top it all, marketing our products globally," Motwani said. Kinetic Green's aim is to build a USD 1 billion EV business by 2030, and this JV will play a key part in the company's global ambitions, she added. The JV will produce electric carts at Kinetic Green's Pune-based production facility . KGTL plans to have a production capacity of 4,000 units for the first two years of operations and later scale it up depending upon the market demand, Motwani said. "We are also keeping the option open to set up local assembly plants depending upon the customs duty structures in different countries," she added. The company has all the options available, including CKD (Completely Knocked Down), CBU (Completely Built Unit) or component export for different geographies, Motwani said. "This is more than an industrial joint venture - it is a bridge between two entrepreneurial cultures," Ferruccio Lamborghini, Vice President, Tonino Lamborghini SpA, stated. The JV will roll out the electric carts in two trims - Genesis and Prestige - with prices ranging between USD 10,000 and USD 18,000 per unit.

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