Latest news with #Bhatnagar
Mint
a day ago
- Business
- Mint
Policy U-turn? New govt notice hints at easier local sourcing rules for telecom equipment makers
A government notice last week hinting at a possible flip-flop in India's local sourcing policy for telecom equipment has left domestic manufacturers such as Tata Group's Tejas Networks Ltd fretting about losing ground to global companies like Nokia and Ericsson. Under current rules, telecom equipment manufacturers must source 50-60% of their total bill of materials locally to be selected as Class-I local suppliers—the preferred bidder category—in tenders floated by public sector undertakings and ministries for certain products. However, in a notice dated 3 June, the Department of Telecommunications said India's limited components ecosystem posed challenges in achieving 50-60% local sourcing for electronic and telecom products. 'Recognizing this constraint, the conditions for local content qualification also requires a review," DoT said. But just eight months earlier, in October, the department had said 36 telecom equipment categories had sufficient local capacity and competition, and maintained a 50-65% local value-addition requirement for products such as ethernet switches, unified threat management platforms, 4G mobile systems, optical fiber, and certain Wi-Fi products. Domestic telecom equipment makers warn that any relaxation in the local sourcing policy would undermine India's self-reliance or Atmanirbhar Bharat agenda and give an unfair advantage to multinational firms. 'There is no need to reduce local content for telecom equipment. None of the domestic design-led players have raised the issue," said Rakesh Bhatnagar, director general of Voice of Indian Commtech Enterprises (VoICE), which counts Tejas Networks, HFCL Ltd, VVDN Technologies Pvt. Ltd, and STL Tech, among its members. 'It appears to be a back-door opening being made to support MNCs (multinational companies) and is totally going against the policy announcements being made at the highest level." Also read | Telcos slam Trai's satellite spectrum pricing as unfair, call for comprehensive review According to Bhatnagar, given the ongoing situation of neighbourly hostilities, India should ensure that no software and programmable parts in sectors such as electronics, telecom, space, and nuclear energy come from foreign suppliers. On the other hand, executives at foreign telecom equipment makers say a short-term relaxation is essential considering India's continued dependence on imports for key components such as semiconductors, advanced chipsets, and specialized telecom modules. Lately, companies such as Finland-based Nokia and Sweden's Ericsson have been lobbying the Indian government to relax certain rules so they can participate in government tenders, industry executives said. 'We are looking at all the possible options to participate in government tenders and pitch the government to relax certain rules," said an executive at a global equipment maker, adding that while a majority of the company's supplies go to private firms, the government sector is also a big revenue area for telecom equipment. Nokia, Ericsson, Tejas, HFCL and VVDN did not reply to queries emailed on Friday. Also read | Trai, telecom companies spar over data demand Make in India: Hits and misses India's local value-addition rules—issued as part of the Public Procurement (Preference to Make in India) Order, 2017 policy—specifies the eligibility criteria for manufacturers to be classified as Class-I local suppliers to government departments. Local-value addition refers to the percentage of a product's manufacturing cost that comes from components and processes done in India. Manufacturers meeting a minimum threshold—typically 50% or more—are classified as Class-I local suppliers, giving them preference in government tenders over other companies. In March, the government approved a $2.7-billion ( ₹22,919 crore) outlay to incentivize local manufacturing of electronics components, setting goals for domestic and foreign entities to establish local component manufacturing facilities at subsidies of up to 50% of the project costs. With the scheme, the government aims to increase the local value addition to 40% in electronics manufacturing from 20% now. State-owned Bharat Sanchar Nigam Ltd (BSNL) managed to roll out its 4G network on indigenous telecom stack developed by Tejas, Tata Consultancy Services Ltd, and the Centre for Development of Telematics. But several private companies still rely on equipment developed by global companies for a significant portion of their networks. Also read | How Samsung and 20 others missed out on an ambitious incentives scheme 'A short-term review of local content requirements is important to ensure that manufacturers remain competitive while the component ecosystem matures," said Paritosh Prajapati, chief executive and founder of Sweden-based GX Group, which is also a beneficiary of India's productivity-linked incentives (PLI) scheme for the telecom sector. He, however, acknowledged that any such relaxation could put pressure on smaller and mid-sized domestic players, especially those still in the process of building scale. 'Any relaxation must continue to incentivize companies to shift R&D (research and development), design, and IP (intellectual property) rights to India, aligning with the vision of Atmanirbhar Bharat," Prajapati said. India's PLI scheme has got global giants such as Apple Inc., Ericsson, Germany's Siemens AG, China's Foxconn, and The Netherlands' Philips NV investing and producing more in India, he pointed out. As per the government's October notice, product design work done in India must contribute up to 55% towards meeting the domestic-value addition policy's 65% threshold. However, 'there is very less design being done in India as the products are being assembled through contract manufacturers", said an executive at a local telecom gear maker, requesting anonymity. Also read | Next-gen telecom tech to get ₹1,000-crore yearly R&D boost under telecom policy Cracks in compliance The Department of Telecommunications, besides reviewing product-wise local content requirements, also plans to review conditions of inputs, including design, to be qualified as local content and the criteria for calculating local content for software products. 'While the Indian component manufacturing ecosystem is thriving, the government has to handhold it to help it build a stronger foundation to achieve the stated goal of $500 billion in electronics manufacturing by 2030," said Harsh Walia, partner at law firm Khaitan & Co. 'In order to do so, lowering the threshold may encourage more realistic compliance and foster growth in the sector while still promoting domestic production. However, it should be balanced to ensure continued support for local industries and avoid excessive reliance on imports," Walia said. 'By offering turnover and capex linked incentives for manufacturing of listed products, the government aims to increase investment in the (telecom) sector, which will further strengthen the manufacturing for telecom equipment and assist in its exponential expansion," he added. The Public Procurement (Preference to Make in India) Policy (PPP-MII) was introduced with the goal of strengthening domestic manufacturing and reducing dependency on imports, especially in critical sectors. The broader policy is handled by the Department for Promotion of Industry and Internal Trade (DPIIT), with other ministries notifying the same based on their respective areas to boost domestic manufacturing. Also read | The ambitious and ambiguous rise of Huawei as a telecom giant There have been multiple complaints, however, that tenders floated by various ministries have not been at par with DPIIT's rules and favour foreign brands. In 2024, DPIIT scrutinised 867 tenders on a random basis. Of these, 259 tenders were found to be non-compliant with the provisions of the Public Procurement (Preference to Make in India) Order, 2017. Reasons for non-compliance included mention of specific brands, excessively high turnover requirements, global tenders floated without approval from a competent authority, failure to follow notifications issued by the nodal ministry, and insistence on foreign certifications. In 2023, a government investigation also found an incorrect claim of local content by bidders that had won tenders floated by state-run organisations such as Maharashtra Metro Rail Corporation Ltd and Oil and Natural Gas Corporation Ltd.
Time of India
26-05-2025
- Politics
- Time of India
NEET case: Next hearing scheduled for May 29
Indore: The High Court on Monday held another hearing in the ongoing NEET UG result case. Before the hearing on Monday, NTA had proposed the formation of an investigative committee and submitted a report regarding the matter. "Solicitor General Tushar Mehta appeared virtually at 2:30 pm and mentioned that they had conducted the statistical analysis in which averaging of attempts of questions from the affected centres were found to be almost equal to the attempts made at the centres near Indore," said Advocate Mridul Bhatnagar. Bhatnagar argued that the centres near Indore don't have appropriate facilities and so their attempts could not be compared to Indore ones. "We have toppers from Indore and so their attempts cannot be compared to the students from nearby areas," he said adding that he informed the court that over 60 petitions have already been filed from Indore and Ujjain. "Solicitor General Mehta asked for more time and the next hearing has now been scheduled for Thursday, May 29," he said. The NEET UG result is expected to be declared on June 14. "Initially, NTA's response mentioned that the exam was affected at 24 centres in Indore, but in the latest reply submitted on Monday, NTA clarified that the exam was disrupted at 18 centres in Indore and 6 in Ujjain, affecting over 2,000 students in total. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Around 27,000 students appeared for the NEET UG exam in Indore this year, where 49 centres were set up. The petitioners have requested the High Court to allow a re-exam for the affected students who wish to appear again, arguing that students deserve a fair opportunity to demonstrate their abilities," he said. Responding to this, Solicitor General Mehta said that the exam was conducted smoothly and peacefully. Bhatnagar countered this by emphasizing that NEET UG was not a regular exam and required uninterrupted power supply, which the NTA failed to ensure. In its official reply, NTA acknowledged that power supply was disrupted for durations ranging from 10 minutes to over an hour at several centres.
Mint
23-05-2025
- Business
- Mint
Leela to retain its 'niche, complete luxury' hotel identity even after IPO: CEO
The Leela Palaces, Hotels and Resorts, which is set to launch the largest initial public offering (IPO) in India's hospitality space to fund its expansion, is clear that it won't allow scale to dilute its core identity. The luxury hotel chain, operated by Brookfield-backed Schloss Bangalore Ltd, says it will remain a distinct, pure-play luxury brand with a sharp focus on high-end hospitality, as it prepares to raise ₹3,500 via the public offer that opens on Monday. "Ours will be a niche, complete luxury hotel offering," Anuraag Bhatnagar, chief executive officer, Schloss Bangalore Ltd, told Mint. Also Read | IPO-bound Schloss to spread Leela hotels in India, explore new luxury ventures The Leela Palaces IPO price band has been set at ₹413- ₹435 per share. The company's vision is clear, and will be focused on luxury hotels, continuing with its 40-year legacy. "This is a very nuanced and a very niche space we have created. We are the only institutionally managed pure-play luxury hotel company in India and it has taken us years to reach here. It's not easy to perfect this kind of an ecosystem of luxury and we have refined our vision and this will be our moat going forward too," Bhatnagar said. The company has 13 hotels that are currently operational and another 700-odd rooms are in active development across different cities. Leela owns over 10%, or 3,500 of India's luxury hotel inventory of nearly 30,000 rooms. "When we look at industry data, we are charging on an average, 40% premium (or 1.4 times) on our luxury hotel rooms than any other luxury player in the country and luxury rooms themselves charge two-and-a-half times higher in terms of revenue per available room than the regular industry average. This number is ₹15,300, which is higher than the industry average of ₹11,000. We have a long runway ahead" he said. Revenue per available room, or RevPAR, is a metric by which hoteliers measure performance of the total hotel rooms they have. It is calculated by dividing the total room revenue by the total number of rooms available. Also Read | 'Leela deal worth the price; such assets not built quickly' Average daily rates, or the rates that hotels charge per day per room, in the luxury segment are far lower in India than their overseas counterparts, including hotels in the Middle East and Asia Pacific, giving companies like The Leela Palaces more room for growth, Bhatnagar said. According to hospitality consultancy firm Hotelivate's October 2024 report, India had a total branded hotel inventory of approximately 180,000 rooms as of FY24, with around 39% of these falling into the upscale and luxury segments. India now has about 200,000 or more branded hotel rooms, with the number expected to shoot past 300,000 rooms by FY30, according to another hospitality consultancy Horwath HTL. Also Read | Leela, Hyatt or Radisson? Summer brings out India's best hotel deals Bhatnagar said that the hotel sector has experienced a sustained recovery and growth over the past five years, following the pandemic-induced downturn. This resurgence is characterized by a permanent shift towards prioritizing travel and experience-driven consumption. 'There is also now an overlap with the India growth story and the phenomenal rate at which our GDP is growing along with the increase in purchasing power. There were about 70 million-odd households in India a few years ago, which were potentially consuming luxury goods and services. This is expected to triple in the next five years to 200 million households. That's where a huge opportunity lies," he said. Hospitality, traditionally shaped by global consumption trends, has long been central to the luxury goods and services space. Bhatnagar further noted that the country's expanding infrastructure, including the development of new airports and the rising popularity of destinations easily accessible by road from major cities, is significantly contributing to business growth. 'The addressable luxury market is going to increase year on year," he added. While the current number of pure-play inbound international travellers lags, projections indicate a significant increase to 15 million in the coming years, which is expected to substantially boost the business. Leela at present has a near 50-50 split of Indian versus international travellers, which gives it balanced future growth prospects, he added. Earlier, prior to the pandemic, this figure was 65% international travellers versus 35% Indians. The company is reinvesting strategically in its existing hotel portfolio and exploring emerging luxury sub-categories to enhance average daily rates. This includes developing premium offerings such as high-end villas within current properties and establishing exclusive members-only clubs. 'These will all be value drivers that we have built into a system which will play out in the next few years," he said. This will also include its luxury residences which will come up in the next 18 months in Mumbai. Hotels will open in a phased manner till 2028. Schloss Bangalore Ltd earlier this week said it will open its ₹3,500 crore initial public offering on 26 May, making it the largest IPO in the country's hospitality sector to date. The company has scaled down the issue from an earlier ₹5,000 crore plan, citing robust cash flows in recent quarters, and will use the proceeds to fully repay its ₹2,500 crore debt, making it a debt-free business. "We see it as a very positive spin because our primary need of the IPO proceeds was to pay our debt and we had to pay ₹2,500 crore of debt. Our need for capital has gone down. And the size of reduction of the offer for sale (OFS) shows a promoter confidence in the brand and the company," he said. The IPO also comes amid a wave of listings in India's hospitality sector, as rising disposable incomes and a surge in premium travel drive investor interest in hotel chains. The Leela's earnings before interest, taxes, depreciation, and amortization (Ebitda) have grown from ₹600 crore to ₹700 crore from FY24 to FY25. Brookfield had also infused over ₹1,200 crore cash into the business which is sitting on the balance sheet. For the next phase of growth, it will utilize that and the capital on its balance sheets including internal accruals. "We've seen a balance growth across our portfolio and not just from one set of hotels. Food and beverages is a very large part of our business and about 37% comes from it," Bhatnagar added. More than a third, or 35%, of its current inventory of about 1,220 rooms are managed while the remainder are owned. By the end of FY28, the company will have 10 owned hotels, from five now. Along with the listing, Schloss is ramping up expansion with seven new hotels planned over the next three years in cities like Ayodhya, Ranthambore, Gangtok, Srinagar, Bandhavgarh, Agra and Mumbai—targeting demand across spiritual, heritage, wildlife and business travel segments. "The trend of multi-generational travel and spiritual luxury travellers is here to stay. This is where our moat is. The average age of the consumer of luxury is getting younger. Earlier, one associated luxury with a particular age group, but now as we move forward, we find it is getting more democratic and more inclusive," he added. Five of these seven hotels will be owned, while two will be operated through management or franchise agreements, making the company grow from 13 to 20 properties to scale the luxury portfolio in underpenetrated markets. The hotel industry has seen a lot of formalization in the last few yeas, with several players listing themselves while others are still in the process. Prestige Hospitality Ventures Ltd has filed draft papers for a ₹2,700 crore public issue. Ventive Hospitality—a joint venture between Panchshil Realty and Blackstone, filed its preliminary papers with the Sebi in December last year, while Juniper Hotels and Park Hotels last February. Next will be Brigade Hotel Ventures Ltd, which filed its DRHP last December and received approval for a ₹900 crore IPO. Brookfield is a 100% owner of the Leela Hotels. Ankur Gupta, head of Asia Pacific and Middle East for Brookfield's real estate business, said that the company will look to hold about 76% of its ownership post-IPO and will dilute just 24%. Brookfield finalized its $500 million or ₹3,900 crore acquisition of Hotel Leelaventure—the company behind the iconic Leela luxury hotel chain, in 2019.
Time of India
21-05-2025
- Business
- Time of India
The Leela is well capitalised to leverage emerging opportunities: Anurag Bhatnagar, ET HospitalityWorld
Advt Advt By , ETHospitalityWorld Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETHospitalityWorld App Get Realtime updates Save your favourite articles Scan to download App Addressing a press conference organised to announce the details of the forthcoming Initial Public Offering (IPO) of Schloss Bangalore , the owning company of The Leela brand of hotels, Anurag Bhatnagar, CEO of the hotel company said that they are well capitalised to leverage the emerging opportunities for luxury hospitality in the country considering the current and ensuing demand-supply gap in the luxury said that the target audience for luxury products in India, which is currently sitting at 70 million families, is poised to grow to 200 million families over the next five years, throwing huge business opportunities for luxury market players in coming Bangalore Limited's IPO with an offer size of Rs 3,500 crore is set to open on May 26 and close on May 28, 2025. The issue includes a fresh issue of shares aggregating to Rs 2,500 crore and an offer for sale (OFS) of up to Rs 1,000 crore. The price band of the issue is between Rs 413 and Rs 435 per equity per the issue summary, no less than 75 percent of the allotment will be for Qualified Institutional Buyers (QIBs), 15 percent for non-institutional investors and up to 10 percent for retail about the Leela portfolio of hotels and their performance, Bhatnagar said that they were the only institutionally owned and managed pure-play luxury hospitality company in the country and their singular differentiating element is the service culture embedded on Atiti Devo said that in terms of all performance metrics of EBITDA margins, RevPAR premium and net promoter score, The Leela properties were far ahead of the market competition. The Leela Hotels enjoyed a RevPAR premium of 1.4X in the luxury hospitality market and an EBITDA margin of 49.78 percent for FY25, he said, which is highest in the market. The hotel company had a net promoter score of 85.11 which is unmatched in the industry, he a comparative analysis of other global economies of the world, Bhatnagar said that the luxury hospitality industry grew double the respective economy growth rate and therefore the Indian luxury hospitality industry is also poised for a major push off as the Indian economy is set to become the third largest soon.'India is quite underserved in terms of luxury hospitality products and therefore there is a long run way available for exclusive players like The Leela,' said Leela owns, manages and operates 13 hotels with a combined inventory of 3,553 rooms currently and 678 keys are in the about the growth strategies, Bhatnagar said that they had identified a few sub-segments of luxury hospitality for future growth and expansion. These sub-segments include business (serviced apartments/residences); hill stations; heritage properties; spiritual and the pipeline are serviced apartments in Mumbai; hotels in Sikkim and Srinagar; a hotel in Agra; a heritage hotel in Ranthambore; a 100-room hotel in Ayodhya (spiritual) and Bandhavgarh (30-key wildlife retreat). Out of the upcoming hotels, five will be company owned assets, Bhatnagar major announcement Bhatnagar made was the soon to be launched 'ARQ Club', a members only club in 3 select properties of The on the occasion Ankur Gupta , managing partner - real estate, Brookfield said that The Leela business has a special place in the Brookfield portfolio ever since they acquired the Indian luxury hospitality company in 2019 and has been consistently investing in the brand development. From 8 properties in 2019, the portfolio has grown to 20 operational and under development today, he per the public issue summary, the proceeds of the public issue will be used for repayment, prepayment, redemption of outstanding borrowings and general corporate purposes.
Khaleej Times
28-03-2025
- Business
- Khaleej Times
Newgen strengthens its foothold through strategic expansions
Newgen is driving digital transformation in the Middle East's financial sector through innovation and strategic investments and it would continue to explore the opportunities in the region, its top official says. Vivek Bhatnagar, Senior Vice-President and Head of Business for the Middle East and Africa at Newgen Software, said the Middle East is at the forefront of digital transformation and the company has strengthened its foothold through strategic expansions. 'We are exploring opportunities in Bahrain, Oman, and Egypt, where demand for digital transformation is growing rapidly,' Bhatnagar told BTR. Newgen Software was established more than 30 years ago with a vision to help organisations to achieve operational excellence. The company's first products in the early 1990s were for content management, for imaging and small workflows. Today, it is established as a leading provider of an AI-enabled unified digital transformation platform with native process automation, content services, and communication management capabilities. 'We have continued to develop our product strategy and revamped our mission statement: 'To transform business by innovatively connecting systems, processes, people, and things,' Bhatnagar said. Excerpts from the interview: Can you share an overview of Newgen's journey in the Middle East and its growth in recent years? Newgen's journey in the Middle East reflects its transformation from a newcomer to a key player in the region's financial technology landscape. Starting with zero presence, Newgen has grown to support over 30+ top-tier financial institutions, enabling them to digitise legacy systems, improve risk management, and enhance operational efficiency. The company strengthened its foothold through strategic expansions, showcasing its commitment to the region. In 2024, Newgen launched the world's first low-code, end-to-end trade finance platform, a groundbreaking innovation that empowers banks to streamline trade finance operations while maintaining compliance with regional regulations and Islamic finance principles. By focusing on localisation, innovation, and partnerships, Newgen has tailored its solutions to meet the unique needs of Middle Eastern banks, including Shariah compliance. Newgen has modernised banking and become a trusted partner in the region's digital transformation. Key collaborations include: RAKBANK: Unified 200 services into a single workflow, cutting processing time by 25%. MEDGULF: Digitised motor claims in KSA, improving fraud prevention and efficiency. Newgen is driving digital transformation in the Middle East's financial sector through innovation and strategic investments. When did you foray into the UAE market, and how do you evaluate the company's performance so far? Newgen expanded presence in the UAE market in 2022, marking a strategic move to strengthen its presence in the Middle East. Since its foray, the company has achieved significant milestones, demonstrating strong performance and recognition in the region. Newgen has enabled digital transformation, streamlined operations, and delivered innovative solutions tailored to the unique needs of Islamic finance and regulatory compliance. Here's an overview of its journey and achievements: Awards and Recognition Won the Best Process Automation Implementation in the Middle East by The Asian Banker in 2021. Awarded Best AML/KYC Solutions Provider at the MEA Finance Banking Technology Awards in 2023. Partnerships and Impact Newgen's performance in the UAE market reflects its commitment to innovation, customer success, and industry leadership, solidifying its position. Some use cases: Streamlined lending operations for the world's largest Islamic bank, reducing turnaround time by 40% improving operational efficiency. Modernised motor claims for a Middle Eastern General Insurance company, achieving 90% straight-through processing (STP) and reducing claims processing time by 50%. Enhanced SME lending for a leading bank through digitalisation, improving customer onboarding and reducing manual errors. How has Newgen tailored its offerings to meet the specific needs of businesses in this region? Newgen has tailored its offerings to meet the specific needs of businesses in the Middle East by deeply integrating Shariah compliance and Islamic finance principles into our products. It has also developed platforms that align with Islamic laws while driving innovation and efficiency. Here's how: Regulatory Compliance: Solutions comply with central bank mandates, data residency laws, and Shariah-compliant banking. AI-Driven Trade Finance: The low-code trade finance platform (2024) digitises trade finance and enhances risk management. Arabic Language Support: Full Arabic language support and AI-powered document classification for faster automation. Government Digitalisation: Intelligent workflow automation for paperless governance and transparency. Cloud-first Deployment: Flexible hosting options with data localisation. Business impact includes faster digital banking, enhanced compliance, cost savings, and personalised customer experiences. What are the key digital transformation trends shaping enterprises in the Middle East? The Middle East is witnessing a digital transformation wave, driven by government initiatives, technological advancements, and regulatory requirements. Key trends shaping enterprises in the region include: Dubai Vision 2030 Focus on smart governance, paperless transactions, and AI-driven public services to enhance efficiency and transparency. Emphasis on sustainable development and digital innovation to position Dubai as a global technology hub. Shariah Compliance and Islamic Finance Growing demand for Shariah-compliant digital solutions that align with Islamic finance principles, such as Murabaha, Ijara, and Sukuk. Integration of AAOIFI standards and ethical banking frameworks into digital platforms. Cloud and Data Localisation Shift to cloud-first strategies with a focus on data residency to comply with local regulations. Increased use of hybrid cloud models for flexibility and scalability. Regulatory Compliance Adherence to central bank mandates, AML/KYC regulations, and data privacy laws. Implementation of robust audit and reporting tools to meet regional and international standards. Customer-centric Digitalisation Focus on enhancing customer experiences through Arabic language support, personalised services, and seamless onboarding. These trends, combined with initiatives like Dubai Vision 2030 and the rise of Shariah-compliant digital solutions, are driving enterprises in the Middle East to embrace digital transformation, ensuring compliance, innovation, and long-term growth. How do you see AI and automation driving business efficiency in the region? Digital transformation has become central to the Middle East's economic diversification, regulatory compliance, and global competitiveness, driven by initiatives like Dubai Vision 2030 and rising customer expectations. AI is playing a vital role by enabling: Operational efficiency through automation of repetitive tasks and intelligent workflows. Enhanced customer experiences with personalised services and Arabic language support. Risk management and compliance with Sharia-compliant banking and AML/KYC regulations. Trade and supply chain optimisation through AI-driven platforms. Smart governance with paperless transactions and automated public services. Sustainability by reducing carbon footprints and supporting ESG goals. AI is the backbone of the region's digital transformation, driving innovation and efficiency across sectors. What challenges do organisations in the Middle East face in adopting digital technologies, and how does Newgen address them? Organisations in the Middle East face challenges such as legacy systems, compliance complexities, and adoption resistance. Newgen addresses these with: Seamless Integration: NewgenONE connects legacy and cloud systems. Regulatory Compliance: AI-driven content management ensures adherence to regional regulations. Low-code Platform: Empowers business users with minimal IT dependency. Scalable Solutions: Modular approach minimizes costs and delivers fast ROI. Industry-tailored Innovation: Solutions for BFSI, government, insurance, and healthcare sectors. Flexible Deployment: On-prem, cloud, or hybrid models for data control and security. Hyper-personalised CX: AI-driven automation enhances customer engagement. Newgen empowers enterprises with agility, compliance, and AI-driven innovation. What differentiates Newgen's approach from other players in the market? Newgen's competitive edge lies in its comprehensive, agile, and compliance-driven platform. Key differentiators include: Unified Low-code Platform: Integrates process automation, content services, AI, and customer engagement. Industry-specific Expertise: Deep understanding of banking, insurance, and government sectors. Accelerated Implementation: Low-code framework ensures rapid deployment and faster ROI. Regulatory Compliance: Solutions embed security, auditability, and regulatory adherence. Newgen delivers scalable, future-ready solutions that drive efficiency and compliance. How has Newgen helped financial institutions and government entities modernise their operations? Newgen is modernising banking and government operations and has introduced AI-driven automation for faster and seamless banking for financial institutions. It includes: 60% faster loan approvals with digital origination. Instant KYC and compliance automation for seamless customer onboarding. Omnichannel banking powered by AI chatbots and self-service portals. For government entities, it has introduced paperless governance and smart citizen services, which resulted in: 80% reduction in paperwork through enterprise content management. Digital portals enabling faster, self-service citizen interactions. Secure, compliant document processing aligned with regional regulations. Newgen is transforming banking and governance with cutting-edge technology, driving efficiency, compliance, and exceptional user experiences. What is your vision for Newgen in the Middle East in general and the UAE in particular over the next five years? Newgen aims to drive innovation in banking, insurance, government, and enterprises with a focus on AI, automation, and cloud-first solutions. Key goals include: Expanding Market Leadership: Strengthening presence in key sectors and deepening partnerships. AI & Automation: Enabling AI-powered process automation and hyper-personalised customer engagement. Future-ready Financial Innovation: Advancing AI-driven document processing. Cloud & Hybrid Deployment: Delivering scalable solutions through partnerships with AWS, Microsoft Azure, and Oracle Cloud. Newgen aims to be the region's leading AI-driven digital transformation partner. How do you plan to position Newgen as a leader in digital transformation amid growing competition? Newgen is positioning itself as a leader through: AI & Automation-first Approach: AI-driven process automation, fraud detection, and predictive analytics. Low-code Leadership: Unified platform for process automation, content services, and customer engagement. Industry-specific Expertise: Tailored solutions for banking, insurance, and government sectors. Strategic Partnerships: Cloud alliances with AWS, Microsoft Azure, and Oracle Cloud. Newgen delivers faster time-to-market, cost savings, and enhanced customer experiences. What message would you like to share with enterprises in the Middle East looking to accelerate their digital journeys? The Middle East is at the forefront of digital transformation. Newgen empowers organisations to automate processes, enhance customer experiences, ensure compliance, and scale with AI-driven innovation. Whether you are a bank, insurer, or government agency, Newgen is your trusted partner for fast, compliant, and customer-first digital transformation. What are the core markets for Newgen, and which new markets are you planning to explore in the next five years? Newgen's core markets in the Middle East include the UAE, Saudi Arabia, Qatar, and Kuwait. The company is exploring opportunities in Bahrain, Oman, and Egypt, where demand for digital transformation is growing rapidly.
