Latest news with #RelianceRetail
Business Upturn
12 hours ago
- Health
- Business Upturn
Groundbreaking Ceremony for DJ Medicity: Uttar Pradesh Witnesses Launch of Premier Integrated Healthcare Complex in Modinagar
The inaugural ceremony for DJ Medicity, an unprecedented Rs. 500 crore comprehensive healthcare campus, took place in Modinagar, introducing the region's inaugural tertiary medical facility and establishing it as a premier healthcare education destination. Business Wire India The inaugural ceremony for DJ Medicity, an unprecedented Rs. 500 crore comprehensive healthcare campus, took place in Modinagar, introducing the region's inaugural tertiary medical facility and establishing it as a premier healthcare education destination. This transformative development will convert Modinagar from its industrial roots into an all-encompassing medical hub, delivering premium healthcare services that were previously accessible only in major urban centers. DJ Medicity builds on the legacy and legend of the late Ajit Singh Jassar, acknowledged as Modinagar's education city founder, who formed the Jassar Dental Medical Education Health Foundation in 1997. After Ajit Singh Jassar's unexpected passing away at 59, his son Rhitik Jassar took charge at merely 17 years old, facing considerable institutional obstacles. Despite confronting significant financial burdens and unfinished developments, Rhitik successfully transformed the organization, accomplishing total debt clearance by repaying ₹215 crore in pending liabilities ahead of time while finalizing multiple projects including The Grande housing development in Meerut. Currently 27, he leads the DJ Medicity's planning and execution. Chief Secretary Manoj Kumar Singh officiated the inaugural ceremony, showcasing governmental backing of this healthcare initiative. Singh highlighted how integrated medical facilities such as DJ Medicity foster enduring development networks, specifically commending Chief Minister Yogi Adityanath's groundbreaking "One District One Medical College" program. The event guest list included Dr. Hrishikesh Bhaskar Yashod (Divisional Commissioner of Meerut), Deepak Meena (District Magistrate of Ghaziabad), Atul Vats (Vice Chairman of Ghaziabad Development Authority), Vikramaditya Malik (Municipal Commissioner of Ghaziabad), and additional senior regional administrators. This healthcare venture has also garnered considerable interest from premier banking institutions, with senior representatives from Bank of Baroda, HDFC Bank, Tata Capital, and additional prominent financial organizations present at the ceremony, demonstrating robust faith in JDMEHF's outstanding performance history. The DJ Medicity campus has been conceptualized by CDA, India's foremost healthcare design firm responsible for creating renowned institutions such as AIIMS, Max, Fortis, and Yashoda Hospitals . Strategic consultation services are delivered by Whitehawk Associates, led by industry experts including Bhavdeep Singh (former CEO of Reliance Retail and Fortis Healthcare), Dr. Rajen Ghadiok (Former Chairman Cardiology Sir Ganga Ram Hospital), Ajay Vij (Former CIO Fortis, Reliance Retail), and Gurjit Singh (Former CEO Sakra Hospital). WHA's extensive mandate encompasses advanced strategy formulation, clinical program development, medical configuration, spatial design, patient journey optimization, operational framework creation, and medical technology and equipment planning. The core of DJ Medicity features a cutting-edge 955-bed medical facility with sophisticated MRI and CT imaging technology, 14 surgical suites, and a dedicated 20,000 square feet women's and children's healthcare wing. The healthcare campus will establish Centers of Excellence for Oncology, Cardiology, and Sports Medicine. The institution will deliver complimentary medical care for financially disadvantaged populations while providing premium healthcare services matching distinguished institutions like Max and Apollo medical centers. The academic division incorporates a medical institution structured to educate 250 MBBS candidates per year, complemented by postgraduate degree and super-specialty curricula. The campus will incorporate specialized academies for legal education and management studies, presenting programs in healthcare planning and hospital management. The accommodation facilities comprise 12 residential buildings with planned student housing that will house up to 4,158 occupants total, establishing an independent medical education community supporting learners and educators alike. DJ Medicity seeks to promote an innovative academic approach that extends beyond traditional medicine to incorporate finance, legal studies, integrative healthcare, and related health disciplines, training healthcare practitioners for contemporary medical practice challenges. "We intend to commence operations in phases, initially completing student accommodation, subsequently the hospital facility, with the academic complex following last," states Jassar. "Our primary operational focus centers on maintaining accessible costs and handling substantial patient volumes daily, contrasting with approach of private hospitals that look only towards profit margins and select lucrative treatments." The fundamental principle of his "medicity" vision involves establishing a comprehensive residential campus where accommodation, healthcare, education, and research unite within one integrated setting, promoting cooperation and advancement across all dimensions of medical training and patient treatment. The ceremony drew Uttar Pradesh's senior governmental leadership, illustrating extensive official endorsement for this revolutionary healthcare project. This development constitutes the most significant private investment in Modinagar's contemporary history, coordinating with the state administration's objective to position Uttar Pradesh as India's leading hub for medical education and healthcare delivery. Under Chief Minister Yogi Adityanath's guidance and seasoned officials like Chief Secretary Manoj Kumar Singh, DJ Medicity is strategically placed to create innovative benchmarks for comprehensive medical training and healthcare provision throughout the state. Disclaimer: The above press release comes to you under an arrangement with Business Wire India. Business Upturn take no editorial responsibility for the same. Ahmedabad Plane Crash
Economic Times
12 hours ago
- Business
- Economic Times
Gold demand in India drops 10% in Q2 as high prices hit jewellery
India's gold demand fell 10% YoY to 134.9 tonnes in Q2 2025 as record-high prices hurt jewellery sales. The World Gold Council lowered its full-year forecast to 600–700 tonnes. Investment demand rose, while recycling stayed stable. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's gold demand in the June quarter fell by 10% from a year ago to 134.9 tonnes, according to the World Gold Council (WGC), as rising price of the yellow metal dampened jewellery jewellery retail chains, including Reliance Retail, also flagged a drop in has prompted the WGC, the global trade association for the gold industry, to revise downward its 2025 projection for India's gold demand to 600-700 tonnes – from 700-750 tonnes estimated prices have been highly volatile of late due to multiple factors, including US President Donald Trump's tariff imposition in multiple countries, with the metal crossing a lifetime high of Rs 1 lakh for 10 grams for the first time on April 22. It subsequently came down in the April-June period but stayed in the Rs 90,000 to Rs 1 lakh Taluja, chief financial officer of Reliance Retail, India's largest retailer, told analysts recently that the substantial increase in gold prices may have increased bill values (for its jewellery business), but the number of bills has come down."The business is on steady growth, but obviously there is an impact on the significant increase in gold prices. In volume terms, the demand for gold has gone down (in April-June)," he be sure, the surge in gold prices has increased value growth by 30% year-on-year to Rs 1,21,800 crore of the gold sold in the country in the June quarter, as per WGC. The demand fall has also reduced gold imports by 34% year-on-year to 102.5 Sen, managing director of stock market-listed jewellery chain Senco Gold Ltd. , said the drop in gold demand on volume terms for the company in April to June is in line with WGC's report. 'But value-wise, it has gone up due to high gold prices," he Jain, regional CEO for India at WGC, said the high price of gold has boosted its demand on the investment front--there is a 7% year-on-year increase in demand volume reaching 46.1 tonnes. 'Such figures underscore a deepening strategic commitment among consumers to gold as a long-term store of value," he high price of gold has impacted jewellery consumption in the country, with the demand falling by 17% year-on-year to 88.8 tonnes in April-June, as per WGC estimates. Jain said gold recycling remains resilient with a modest 1% year-on-year increase to 23.1 tonnes.'This stability suggests that even at record price levels, consumers are holding on to their gold, reaffirming its status as a prized asset. With total gold demand from January to June at approximately 253 tonnes, we anticipate full-year demand to range between 600 and 700 tonnes,' he Thursday, gold closed at Rs 98,414 per 10 gms.
Time of India
13 hours ago
- Business
- Time of India
Gold demand in India drops 10% in Q2 as high prices hit jewellery
India's gold demand in the June quarter fell by 10% from a year ago to 134.9 tonnes, according to the World Gold Council (WGC), as rising price of the yellow metal dampened jewellery purchases. Leading jewellery retail chains, including Reliance Retail, also flagged a drop in demand. Explore courses from Top Institutes in Please select course: Select a Course Category MCA MBA others Leadership Management Healthcare CXO Product Management Data Science Project Management Design Thinking healthcare Digital Marketing Data Science Technology Public Policy Artificial Intelligence Finance PGDM Data Analytics Operations Management Degree Others Cybersecurity Skills you'll gain: Programming Proficiency Data Handling & Analysis Cybersecurity Awareness & Skills Artificial Intelligence & Machine Learning Duration: 24 Months Vellore Institute of Technology VIT Master of Computer Applications Starts on Aug 14, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Is What First-Class Living Really Looks Like Explore Undo This has prompted the WGC, the global trade association for the gold industry, to revise downward its 2025 projection for India's gold demand to 600-700 tonnes – from 700-750 tonnes estimated earlier. Gold prices have been highly volatile of late due to multiple factors, including US President Donald Trump's tariff imposition in multiple countries, with the metal crossing a lifetime high of Rs 1 lakh for 10 grams for the first time on April 22. It subsequently came down in the April-June period but stayed in the Rs 90,000 to Rs 1 lakh bracket. Dinesh Taluja, chief financial officer of Reliance Retail, India's largest retailer, told analysts recently that the substantial increase in gold prices may have increased bill values (for its jewellery business), but the number of bills has come down. Live Events "The business is on steady growth, but obviously there is an impact on the significant increase in gold prices. In volume terms, the demand for gold has gone down (in April-June)," he said. To be sure, the surge in gold prices has increased value growth by 30% year-on-year to Rs 1,21,800 crore of the gold sold in the country in the June quarter, as per WGC. The demand fall has also reduced gold imports by 34% year-on-year to 102.5 tonnes. Suvankar Sen, managing director of stock market-listed jewellery chain Senco Gold Ltd. , said the drop in gold demand on volume terms for the company in April to June is in line with WGC's report. 'But value-wise, it has gone up due to high gold prices," he said. Sachin Jain, regional CEO for India at WGC, said the high price of gold has boosted its demand on the investment front--there is a 7% year-on-year increase in demand volume reaching 46.1 tonnes. 'Such figures underscore a deepening strategic commitment among consumers to gold as a long-term store of value," he said. The high price of gold has impacted jewellery consumption in the country, with the demand falling by 17% year-on-year to 88.8 tonnes in April-June, as per WGC estimates. Jain said gold recycling remains resilient with a modest 1% year-on-year increase to 23.1 tonnes. 'This stability suggests that even at record price levels, consumers are holding on to their gold, reaffirming its status as a prized asset. With total gold demand from January to June at approximately 253 tonnes, we anticipate full-year demand to range between 600 and 700 tonnes,' he said. On Thursday, gold closed at Rs 98,414 per 10 gms.
Time of India
14 hours ago
- Business
- Time of India
The future of Indian retail is AI and omnichannel: A preview from ET Soonicorns Summit 2025
Venu Nair, Chief of Strategic Planning and Omnichannel, Myntra Chief of Strategic Planning and Omnichannel, Myntra Ankit Gupta, VP, Head of Product & Tech, Reliance Retail VP, Head of Product & Tech, Reliance Retail Rahul Kothari, COO, Razorpay You're browsing for a new pair of spectacles. The website instantly filters styles based on your face shape, recent screen time habits, and even suggests blue-light blocking lenses for your late-night scrolling. Before you click 'add to cart,' it shows you how each frame would look on your face, using your past selfies and purchase a working day. A nudge on your phone offers a personalised bundle—your favourite brand of sneakers, now paired with curated accessories based on your last purchase. At checkout, there's no queue. You're recognised, and your payment goes through above scenarios are not pages from sci-fi. They are glimpses of predictive and precision retail. All thanks to artificial intelligence or to the good, the bad, and the ugly of the Indian retail landscape, caught in the throes of a seismic shift. The era of one-size-fits-all storefronts and generic marketing is rapidly fading, replaced by a new paradigm where the customer experience is not just king, but the entire kingdom. Traditional storefronts and generic campaigns are giving way to hyper-personalised, data-driven experiences powered by AI in retail. Today, building a loyal customer base means delivering not just transactions but tailored, predictive, and omnichannel shopping experiences that resonate deeply across digital and physical touchpoints. This is the new retail battleground, and AI is the weapon of critical transformation will be the focal point at the ET Soonicorns Summit 2025, scheduled for August 22 in Bengaluru. A pivotal session, 'AI-Driven Personalisation and Omnichannel Commerce: The Next Retail Battleground,' featured under the track 'From Pilot to Product-Market Fit', will convene some of the most influential minds from India's retail and technology sectors to dissect this revolution. The conversation will explore how startups and incumbents alike are leveraging AI to craft bespoke customer journeys, implement dynamic pricing, and orchestrate seamless omnichannel strategies to elevate the retail panel features a powerhouse trio, each at the helm of this change within their respective domains:The modern consumer is inundated with choices, and their attention is the new currency. To capture it, retailers must do more than just sell a product; they must sell an experience. This is where hyper-personalisation—the use of real-time data and AI to deliver highly tailored interactions—becomes essential. Deloitte's June 2024 report, titled Personalising Growth: It's a Value Exchange Between Brands and Customers, reveals that brands excelling at personalisation are 48% more likely to exceed revenue goals and 71% more likely to improve customer loyalty. However, the research also finds a significant gap between brand intent and customer perception: while brands believe 61% of touchpoints are personalised, only 43% are recognised as such by consumers, which makes the ET Soonicorn Summit panel on AI and personalisation all the more fact, the Indian market reflects this global trend with a unique intensity. The AI in the Indian retail market is projected to skyrocket from USD 216.26 million in 2023 to nearly USD 2.97 billion by 2032 , per data released by Credence Research. This is propelled by the insatiable demand for personalised shopping. A recent study from Zebra Technologies' 17th Annual Global Shopper Study found that 77% of Indian shoppers now prefer retailers that provide tailored recommendations powered by AI. This is not a future-state desire; it is a present-day personalisation is only one half of the equation. The other is creating a cohesive experience across every touchpoint, a strategy known as omnichannel commerce. As the lines between online and offline blur, customers expect to transition seamlessly between a brand's app, website, and physical store. Recent data indicates that omnichannel retail in India has been growing approximately 50% faster than single-channel retail formats, while 73% of customers use multiple channels—such as online, in‑store, and mobile—before making a purchase decision. These findings reflect evolving consumer behaviour, highlighting the importance of integrated retail strategies in India's this fusion of AI-driven personalisation and omnichannel execution is the definitive challenge for Indian retail. The stakes are monumental. The Indian retail market is expected to reach US$1.4 trillion by 2024 , according to a report by NASSCOM. Brands that successfully harness AI to deliver a unified, intelligent, and personal customer journey will capture a disproportionate share of this growth. Those who fail will be left speakers for this session bring a wealth of in-the-trenches experience, representing the convergence of fashion e-commerce, large-scale physical and digital retail, and the financial technology that underpins it Nair helms strategic planning and omnichannel initiatives at Myntra, a company synonymous with fashion e-commerce in India. With a vast catalogue of over 2.3 million styles, Myntra has made AI a core part of its strategy to solve the challenge of product discovery. The company employs sophisticated AI tools such as MyFashionGPT and My Stylist to offer personalised style recommendations, allowing users to have a more meaningful, discovery-led shopping experience. Myntra's generative AI assistant, built on Microsoft Azure OpenAI Service, helps users shop with open-ended natural language queries, such as 'what to wear for a festival,' leading to a threefold increase in the likelihood of purchase for those who use it. Nair, a retail veteran with over three decades of experience at giants such as Shoppers Stop, Westside, and Marks & Spencer, is tasked with managing and expanding this omnichannel strategy, making his insights into blending digital innovation with physical retail Gupta, as the VP and Head of Product & Tech at Reliance Retail, operates at an unparalleled scale. Reliance Retail operates over 18,650 stores and a vast digital ecosystem. The company's strategy is deeply rooted in creating a seamless omnichannel model with a common inventory that enables hyper-local delivery. Gupta's teams utilise AI and ML across the entire value chain—from product recommendations, demand forecasting, and supply chain optimisation to automated replenishment and customer support chatbots. The goal is a 'zero-touch' self-optimising network that enhances customer experience through deep technology Kothari, the Chief Operating Officer of Razorpay, provides a critical and often overlooked perspective: the payment layer that enables commerce. A seamless checkout is the final, crucial step in the customer journey. Razorpay has aggressively pursued an omnichannel strategy, acquiring point-of-sale (POS) firm Ezetap to merge online and offline payment experiences. The company is focused on building a system where a customer's identity is unified across channels, allowing for personalised payment experiences. As COO for India and Malaysia, Kothari's role involves enhancing this seamless customer experience across all of Razorpay's business lines. His focus on reducing friction in transactions and leveraging data to improve conversion rates is essential for any retailer looking to optimise their omnichannel Economic Times Soonicorns Summit 2025, India's largest congregation of soon-to-be unicorns, returns to Bengaluru on August 22 for its fourth edition. This premier event brings together founders, VCs, CTOs, and policymakers under the theme 'From Research Labs to Revenue Models: The Billion-Dollar Blueprint for Scaling Indian AI Startups.'As India's startup ecosystem matures, with AI as its definitive growth engine, the ET Soonicorns Summit 2025 serves as a strategic launchpad. The Summit promises not just to highlight trends but to deliver actionable insights for anyone building the next AI-powered unicorn or investing in India's deep-tech discussion on AI-driven retail is more than just an academic debate; it's a playbook for survival and growth in one of India's most dynamic sectors. For founders, product leaders, and investors, this session represents a unique opportunity to learn from the leaders who are defining the future of commerce. It's where the blueprint for India's next generation of retail champions will be for the ET Soonicorns Summit 2025 is now open. Register Here. 360 One is the presenting partner of the ET Soonicorns Summit 2025.(This article is generated and published by the ET Spotlight team. You can get in touch with them at etspotlight@ .)
Time of India
a day ago
- Business
- Time of India
Reliance Retail enters ayurvedic beauty space with Puraveda on Tira
Tira, Reliance Retail's omni-channel beauty destination, has unveiled Puraveda, an Ayurveda brand. This marks a significant addition to its growing Own Brands ancient Indian wisdom with the precision of modern science, Puraveda offers a fresh, transformative take on holistic beauty and wellness, a company statement said. Puraveda's launch marks a significant step in Tira's mission to bring intentional, meaningful beauty experiences to today's conscious consumer, the statement added. Bhakti Modi, Co-founder and CEO of Tira, commented on the launch, "We are thrilled to introduce Puraveda, a brand that embodies the powerful harmony of India's timeless wellness heritage and the precision of modern innovation. At Tira, we aim to redefine beauty by bringing forward brands that go beyond aesthetics to inspire deeper connections with self-care. With Puraveda, we invite consumers to embrace Ayurveda through thoughtfully formulated products that make holistic beauty truly accessible." The brand's carefully curated portfolio is rooted in tradition yet future-forward in formulation. It spans skincare, haircare, and body care, crafted to elevate everyday rituals through cruelty-free, high-performance products. The brand launches with a debut collection featuring over 50 products across four distinct, ingredient-led ranges: Dhara delivers deep nourishment, powered by Chandan, D-Panthenol, and Lavender; Niyama encourages mindful rituals with Kumkumadi, Squalane, and Vetiver; Sama fosters harmony and calm, featuring Gulaab, Tocopherol, and Hibiscus; and Urja energises and revitalises with Mulethi, BHA, and Mogra. Tira said each range is anchored in a signature synergy of Ayurvedic hero ingredients and clinically proven actives, delivering sensorial beauty experiences that are as indulgent as they are effective -- a true celebration of balance, vitality, and well-being. Launched in 2023 by Reliance Retail, Tira is India's fastest-growing omni-channel beauty retail platform. Tira delivers to over 98 per cent of India's pincodes.
