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24 YEARS

VOLUME 24 / ISSUE 8 / AUGUST 2026

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EDITORIAL

Seasonal

MAGAZINE MAGAZINE

www.seasonalmagazine.com

Managing Editor Jason D Pavorattikaran Editor John Antony Director (Finance) Ceena Associate Editor Carl Jaison Senior Editorial Coordinator Jacob Deva Senior Correspondent Bina Menon Creative Visualizer Bijohns Varghese Photographer Anish Aloysious Office Assistant Alby CG Correspondents Bombay: Rashmi Prakash Delhi: Anurag Dixit Director (Technical) John Antony Publisher Jason D Pavorattikaran

India is at a historic economic and demographic pivot. With a target of becoming a USD 30 trillion economy with a per capita income of around USD 18,000 by 2047, the Viksit Bharat @ 2047 ambition is clear. But shifting from a lower-middle-income classification to high-income status - and ensuring that unemployment becomes negligible - requires more than just incremental growth; it demands a comprehensive structural reinvention. Here are 7 actionable steps India can take to reach a higher economic orbit, drawing on global benchmarks and its own innate strengths.

1) THE MANUFACTURING LEAP: MOVING UP THE VALUE CHAIN

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7 ACTIONABLE STEPS FOR CREATING A DEVELOPED INDIA

MEMBER

To absorb millions of workers transitioning out of agriculture, India must solidify its industrial base. While the services sector has been a traditional strength, no large nation has achieved high-income status without a robust manufacturing sector - as demonstrated by South Korea, Germany, and China. India needs to move beyond basic assembly into high-value, deep-tech manufacturing. This involves scaling up semiconductor fabrication, green energy components like solar cells and EV batteries, and aerospace engineering. By simplifying foreign investment regulations and merging complex FDI rules, India can attract massive global supply chains.

2) EMPOWERING MSMES: THE ENGINE OF EMPLOYMENT Micro, Small, and Medium Enterprises (MSMEs) form the backbone of India’s productive economy. They contribute over 30% to the GDP, account for nearly half of all exports, and generate employment for over 300 million people across 70 million enterprises. If unemployment is to become negligible,

MSMEs must be empowered to scale. The focus should shift toward credit accessibility, integration into global supply chains, and formalization. By removing the friction of economic compliance and expanding digital credit platforms, a small workshop in Coimbatore or Ludhiana can seamlessly supply components to a multinational firm.

3) UNLEASHING AI & ROBOTICS: THE DIGITAL MULTIPLIERS India already boasts one of the world’s most advanced digital public infrastructures (DPI), which seamlessly underpins payments, identity, and service delivery. The next frontier is Artificial Intelligence. According to studies, AI has the potential to unlock more than USD 500 billion in economic value for India by 2030 itself. By developing sovereign cloud capacity, by supporting multilingual AI models built for Indian languages, and a judicious deployment of robotics, India can automate routine processes, increase agricultural yields through precision farming, and boost manufacturing productivity. Rather than displacing jobs, a strategic AI & robotics rollout will create high-value employment in data

engineering, AI governance, manufacturing and tech integration.

4) TAPPING INTO HUMAN CAPITAL: ALIGNING EDUCATION WITH INDUSTRY NEEDS As over 250 million people emerge from multidimensional poverty, their economic aspirations demand a radical upgrade in skills. The current education system often produces graduates who require extensive retraining by employers. India can look to Germany’s dual-track vocational training system, where apprenticeships and classroom learning happen simultaneously. Establishing highpowered Education-to-Employment frameworks will align educational outcomes with evolving labor market needs. By focusing on critical thinking, multidisciplinary learning, and AIreadiness, India can transform its demographic dividend into a highly productive workforce.

5) DEEPENING THE SERVICES SECTOR: LEVERAGING INDIA’S INNATE STRENGTH

While IT services have been India’s golden goose, the sector must evolve. Deepening the services sector means transitioning from back-office support to high-value Global Capability Centers (GCCs), cutting-edge R&D, financial services, and global consulting. Among these, India has already proved to be a destination of choice for GCCs. This transition fulfills the aspirations of the newly upwardly mobile middle class, offering durable jobs where human skills, strategic thinking, and creativity remain central, even in an era of AI disruption.

6) TRANSFORMING TOURISM INTO A MEGA-INDUSTRY: THE HUGELY UNTAPPED POTENTIAL Despite its unparalleled cultural heritage, ancient monuments, and ecological diversity, India’s share of global tourism remains disproportionately small compared to nations like France or Spain. Tourism is a highly labor-intensive sector that generates jobs across the entire skill spectrum - from local artisans and

guides to hospitality management and logistics. Developing world-class tourism circuits, ensuring safety, maintaining immaculate hygiene standards at heritage sites, and leveraging digital marketing can unlock a multi-billion dollar domestic and international tourism boom in the country.

7) NEXT-GENERATION INFRASTRUCTURE AND LOGISTICS: FOR BUILDING WORLD CLASS SUPPLY CHAINS To compete globally, the physical friction of doing business must be eliminated. India must build worldclass physical infrastructure, including smart cities, high-speed freight transport, and seamless port connectivity. By focusing on multimodal transport connectivity (road, rail, air, and waterways), India can reduce its logistics costs from around 14% to the global benchmark of 7-10%. This reduction acts as a direct margin boost for domestic manufacturers, making Indian goods hypercompetitive on the global stage. The transition to a developed, highincome nation is not merely about pulling populations out of poverty; it is about enabling sustainable, upward economic mobility. By executing these seven pillars with precision, India can harness its innate strengths and fundamentally shift its economic orbit long before even 2047 arrives. SEASONAL MAGAZINE

CONTENT WHAT CHANGES & WHAT STAYS IN THE 4TH YEAR, UNDER CM DK SHIVAKUMAR As Karnataka enters the fourth year of its administration, the leadership baton has officially passed from veteran statesman Siddaramaiah to the dynamic DK Shivakumar. All eyes are now on what changes and what stays the same under its new Chief Minister. The answer lies in a seamless blend of continuity and aggressive modernization. The transformative five guarantees, which have successfully pumped over Rs 1.21 lakh crore into the grassroots economy, are here to stay, maintaining the state’s robust welfare safety net. However, the Shivakumar era

ACCELERATION AND ALIENATION

SHAPINGGREATFUTURES, THEJSSAHERWAY In the heart of Mysuru, JSS Academy of Higher Education and Research (JSS AHER) continues to scale new heights as a leader in healthcare education, research, and community service. In 2025, the institution strengthened its national and global standing by climbing to 21st in the NIRF Universities category and 38th overall, while its constituent colleges secured leading ranks in medicine, dental sciences, and pharmacy. On the world stage, JSS AHER also earned the 56th..

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SUZLON ENERGY

Why connection is the key to thriving in a world that won’t slow down. We are living through an age of rapid technological transformation. Each development promises to maximize efficiency and

DELIVERING GOOD ENERGY THAT WORKS TALLER, STRONGER From a harrowing debt-laden past to a formidable full-stack clean energy solutions provider, Suzlon Energy is catching a powerful second wind. Alongside an ambitious Interbrand-led rebranding under the promise of ‘Good

HOW ESAF SMALL FINANCE BANK SCRIPTED A RESURGENT GROWTH STORY Navigating the turbulent small finance sector of India requires a balance of compassion and commercial prudence, a

THE ZEIGARNIK EFFECT IS RUNNING YOUR LIFE You don’t have a productivity problem. You have a closure problem. The Zeigarnik Effect is running your life and you don’t even know it. I struggle not to check my phone at dinner. Not because I’m expecting an urgent email. Just because… I have to check

JAPAN BUILDS A POWER PLANT THAT RUNS WITHOUT FUEL, SUN OR WIND Japan’s first osmotic power plant is proving that the natural process of osmosis can generate clean electricity around the clock. Could this be

WHY DYNAMATIC IS THE PERFECT CASE STUDY IN UNPARALLELED CORPORATE REINVENTION In an age when manufacturing headlines are dominated by global supply-chain shocks and geopolitical jockeying, few Indian engineering stories feel as confidently future-facing as Dynamatic Technologies. Once a niche hydraulics..

MODERN FRIENDSHIPS ARE ABOUT THE INTENTION Over the years, I have come to realise that friendships evolve as we grow. When we are young, friends are always close by. We laugh together, share everything, and see each other almost every day.

CAN SATHYABAMA NAVIGATE KEY CHALLENGES TO EMERGE STRONGER? Sathyabama Institute of Science and Technology (SIST) in Chennai, renowned for academic achievements and industry partnerships, is

THE SNAKE CHASING EFFECT

HOW CM CHANDRABABU NAIDU IS CLOSING THE GAP WITH ANDHRA’S SOUTHERN PEERS IN GSDP, FDI & INCOME Andhra Pradesh is scripting one of the most aggressive economic turnarounds in contemporary India, rapidly transitioning from a phase of recovery to an era of hyper growth under the visionary leadership of Chief Minister N Chandrababu Naidu. While realistically still trailing neighboring industrial heavyweights like Tamil Nadu, Karnataka, and Telangana in total economic output, historical foreign direct investment, and per capita income,

A man is walking through the woods when he stumbles across a snake in the center of his path. The snake lashes out and bites him without warning, then turns and slithers away down the path.

PURAVANKARA CELEBRATES 50 GLORIOUS YEARS WITH A SPECIAL ‘MY STAMP’ ISSUED BY INDIA POST Bengaluru: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India’s most admired and trusted real estate developers, today commemorated its 50-year milestone with the release of a customised ‘My Stamp’ by...

MARKETING FOR NEW START-UPS Start-up expert Annie Katrina Lee, whose previous experience includes marketing for Twitch, Pinterest, Amazon, and various start-ups explains

THE WANDERING MIND: A GIFT WE SQUANDER Most people treat a wandering mind like a defect. They see it as a leak in their productivity bucket. “Time to get back to work.” “Stop daydreaming.” We’ve been conditioned to believe that if we aren’t staring at a screen or checking off a to-do list, we are failing.

HOW TO MOTIVATE YOURSELF TO DO HARD THINGS

A SCIENCE BACKED WAY TO SHARPEN YOUR THINKING AND IMPROVE YOUR MEMORY Many of us turn to Sudoku, Wordle or brain-training apps to sharpen our minds. But research is increasingly showing one of the best ways to boost memory, focus and brain health is exercise.

I spend a lot of time thinking about how motivation works. You can even read my in-depth review of some of the relevant scientific literature on motivation. My rationale for studying motivation is simple: motiva SEASONAL MAGAZINE

PERSPECTIVE

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hen life moves on, many things change. We finish school, start working, move to new places, and meet new people. It can feel like old friends are now far away.

However, today, being a friend is no longer about who is near you. It is about choosing to connect, even when life is busy or you live far apart. Technology makes it easier. A simple message, a funny picture, or a short “How are you?” shows that we still care. What matters is not how much we talk, but that we reach out with meaning. Even small actions can mean a lot when they come from the heart. As we grow older and enter adulthood, we meet new friends at work or in our daily lives. They see who we are now. We enjoy their company, share new memories, and grow together. But sometimes, when life is hard or when we want to share something special, we think of old friends. These are the people who saw us at our best and worst. Even if we do not talk often, they are still important. Relationships aren’t always lost; sometimes, they’re just quiet. It took me some time to learn this. I used to feel sad when I didn’t talk to old friends often. Now I know friendship does not end just because we are busy. We do not need to talk every day. We only need to choose each other again and again, in small ways— by remembering, by sending a quick note, by holding each other in our thoughts. Or in my case, by sending random meme videos on

Instagram. Distance and time are no longer significant problems. We have many ways to keep in touch. It is what we do with these ways that matters. When I feel tired or need comfort, I often send a joke or an old photo to an old friend. Sometimes there is no reply right away, but that is okay. Nobody has their phone on all the time. New friends arrive, and they help us grow. They see us as we are now. Their presence is a gift. But there’s a difference between meeting someone where you are and being known by someone who’s seen you evolve through each chapter. This is why, no matter when or where, some connections persist. Not because of frequency, but because we care, we show up, over and over, in whatever way we can. Distance means far less than it used to. Time zones, schedules, and years apart can’t erase the feeling of being seen, understood, or remembered. Modern friendship, if anything, is a testament to intention: to be present, even when presence is digital, sporadic, or wordless. So, if this post reminds you of someone —be it a friend, a group of friends, or even family members— send that message. Share the meme. Start the chat. Like the old picture. Let friendship mean what it needs to for this moment in your life. Maybe that’s the lesson: it’s not the space between us that matters, but the intention behind the message we sent. Reach out to that person you think about today. (Brian for The Tiny Wisdom) SEASONAL MAGAZINE

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As Karnataka enters the fourth year of its administration, the leadership baton has officially passed from veteran statesman Siddaramaiah to the dynamic DK Shivakumar. All eyes are now on what changes and what stays the same under its new Chief Minister. The answer lies in a seamless blend of continuity and aggressive modernization. The transformative five guarantees, which have successfully pumped over Rs 1.21 lakh crore into the grassroots economy, are here to stay, maintaining the state’s robust welfare safety net. However, the Shivakumar era signals a decisive pivot toward massive urban and infrastructural renewal. Spearheading this shift is the ambitious Brand Bengaluru initiative, highlighted by the much-debated Bengaluru tunnel road project and vital elevated corridors designed to decongest the tech capital. By fusing compassionate welfare with rapid, high-tech infrastructure development, Chief Minister Shivakumar aims to sustain Karnataka’s 8.1% growth rate and cement its status as India’s premier tech and economic powerhouse.

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arnataka stands as a compelling

This momentum is backed by a surge in global

rejoinder to the notion that fiscal

confidence and robust fiscal management. In the

discipline and expansive social welfare

first half of the 2025-26 fiscal year, Karnataka

are mutually exclusive. Under the

secured $9.4 billion in Foreign Direct Investment,

seasoned leadership of Chief Minister DK

accounting for a staggering 26.7 percent of India’s

Shivakumar, who recently took the helm in the

total inflows, even as other major industrial hubs

fourth year of the government, Karnataka has

saw declines. The state’s five landmark guarantee

transitioned into a period of aggressive execution.

schemes have also moved beyond their introductory phase into a mature ecosystem.

By anchoring the state’s progress in an economic

CM Shivakumar has made it clear that while these

model that fuses a guarantee-economy with high-

welfare guarantees remain untouched as a core

tech industrial ambition, the administration has

commitment, there is a renewed focus on tighter

steered the state to a Gross State Domestic

auditing to ensure their long-term sustainability.

Product growth rate of 8.1%, significantly

With over Rs 1.21 lakh crore successfully

outstripping the national average of 7.4%.

disbursed to citizens by early 2026, these programs have effectively stimulated rural

Stepping up from his role as Deputy Chief Minister,

demand and fueled a 9.1 percent growth in the

Shivakumar has brought a distinctively dynamic,

agricultural sector.

execution-focused leadership style. Even as the state navigates the evolving complexities of federal tax

Shivakumar’s expertise in managing urban growth

devolution following the 16th Finance Commission’s

is now being applied across the state through the

recommendations, Karnataka continues to position

accelerated Beyond Bengaluru program. The

itself not merely as India’s tech capital, but as its

initiative has reached a crescendo, accounting for

primary engine of equitable growth.

nearly 46% of the investment commitments made

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at the 2025 Global Investors’ Meet. High-value projects, ranging from Silfex’s Rs 9,300 crore silicon component facility to Tata Advanced Systems’ aerospace manufacturing in Kolar, are now anchoring a decentralized industrial map. To ensure tier-2 cities like Mysuru, Belagavi, and Mandya attract the same level of global capital, Shivakumar is heavily expediting clearances. In Mandya, there are advanced discussions to establish a massive 500-acre industrial hub alongside a vehicle testing and certification center, aiming to turn standalone facilities into vibrant economic zones. A significant theme of the new Chief Minister is his assertion that massive infrastructure upgrades are the primary engines for future global investment. This is most evident in his Brand Bengaluru vision. Plans are underway for a second airport for the city, a new tunnel road network, and a massive 40-kilometer elevated corridor project to drastically ease traffic congestion.

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Accompanied by the implementation of the Greater Bengaluru Governance Act, the government is carefully balancing these sweeping structural and physical overhauls without disrupting the everyday livability of the metropolis. Despite the heavy expenditure on social programs and mega-projects, the state’s financial health remains a priority. Recent austerity measures are viewed by the administration as necessary calibrations to maintain fiscal responsibility while funding ambitious infrastructure leaps. By adhering to strict standards, the government aims to show that it can be both a welfare state and a fiscally disciplined entity. This balance directly rebuts critics who suggested the treasury would be emptied by the cost of the guarantees. The state is also looking toward the future of technology, education, and youth empowerment. In a significant move, the government has announced the reinstatement of college student elections, fostering political awareness among the youth. At a recent campus summit, Shivakumar highlighted the urgent need to integrate artificial

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intelligence into higher education, advising students passionate about software to build futureproof careers right here in Karnataka. Further empowering the youth, the Chief Minister has been a strong advocate for state-level control over medical entrance exams, pushing for radical changes following national testing controversies to reduce the immense pressure on local students. The government is also collaborating with prestigious institutions like the Indian Institute of Science and ISRO to establish a robotics and artificial intelligence innovation zone. On the federal front, funding remains critical for these mega-projects. The leadership is advocating for a more constructive dialogue on the relationship between the center and the states. While the 16th Finance Commission recently nudged the state’s tax share up to 4.13%, Shivakumar continues to lead a national conversation on cooperative federalism. The administration is steadfast in ensuring that Karnataka’s status as the nation’s second-largest GST contributor is met with a fair share of resources to support its dual-track ascent.

Whether it is pushing forward a multi-billion-

Ultimately, the story of Karnataka today is one of

dollar semiconductor plant, implementing the

a dynamic leader driving aggressive

Greater Bengaluru Governance Act, or ensuring

modernization while protecting the vulnerable.

the sustainability of grassroots welfare, the

By refusing to choose between industrial growth

administration is working to prove that rapid

and social justice, Chief Minister DK Shivakumar

execution and equitable development are

is attempting to build a state that is as

essential for the modern era, and achievable

compassionate as it is competitive.

under DKS’ visionary guard.

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The legacy of the late Tulsi Tanti, the visionary founder who single-handedly put India on the global wind energy map, looms large over Suzlon Energy even today. For years, the company he built was synonymous with pioneering ambition in renewables, taking Indian manufacturing to the world stage. Yet, it simultaneously became a cautionary tale of aggressive global expansion fueled by crippling debt during the financial crisis. To witness Suzlon in the fiscal year 2026 is to observe a corporate resurrection of the highest order. The company has moved far beyond the brink of financial collapse, transforming into a lean, profitable, and highly focused entity. This turnaround is not merely a survival story; it is a masterclass in strategic restructuring, operational efficiency, and technological innovation. It validates Tanti’s foundational belief that wind energy would eventually become a cornerstone of India’s energy security. At the helm of this remarkable resurgence is a cohesive, evolving leadership team that has carefully balanced fiscal prudence with aggressive market capitalization. Chairman & Managing Director Vinod Tanti and Executive Vice Chairman Girish Tanti have steadied the ship, honoring the founder’s vision while implementing strict financial guardrails that preclude reckless borrowing. As the company scales, its

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leadership structure has strategically expanded; former Group CEO JP Chalasani, having laid a strong execution foundation, was elevated to the newly formed Group Executive Council in February 2026 to drive broader strategic initiatives, explore new business avenues, and mentor senior executives. Stepping into the Group Chief Executive Officer role is Ajay Kapur, an industry veteran with over 36 years of heavy-hitting experience across infrastructure, power, and heavy metals, who most recently served as Managing Director of Ambuja Cements. Kapur now brings his sharp operational focus to the floor, ensuring that manufacturing capacities are utilized optimally to meet soaring domestic demand. Complementing this seasoned tier, the appointment of Ashok Ramchandran as President of the India Business signals a renewed drive to aggressively capture market share. Together, they have engineered a financial reality that seemed impossible half a decade ago. Closing FY26 with a net cash balance of Rs 2,384 crore is a staggering achievement, providing the company with the fundamental stability required to pursue its next phase of exponential growth without the suffocating pressure of leverage. The financial metrics from the past year speak volumes about this renewed vigor. Generating a revenue of Rs 16,679 crore, marking a robust 54% surge, Suzlon has

proven its ability to scale operations efficiently. The net profit crossing Rs 3,163 crore serves as a strong evidence to improved margins and better cost realization across its value chain. However, the path forward is not entirely devoid of speed bumps. The fourth quarter witnessed a minor dip in net profits, a blip primarily attributed to routine tax adjustments. While the management has absorbed this without derailing the overall growth narrative, it serves as a subtle reminder that maintaining high profitability in a capital-intensive and heavily policy-driven sector requires constant vigilance. Market analysts are watching closely to ensure that underlying margin pressures, supply chain inflations, or commodity price fluctuations do not silently erode the hard-won gains made through years of painful restructuring. A critical driver of this financial turnaround has been the overwhelming market acceptance of Suzlon’s flagship 3MW technology platform. This platform has hit an incredible milestone, crossing nearly 9 GW in cumulative sales. Recent deals, such as the 195 MW repeat order from Sunsure Energy, highlight the

immense trust that developers continue to place in Suzlon’s technology and lifecycle maintenance capabilities. This specific platform has hit the absolute sweet spot for the Indian market, offering optimal efficiency for the country’s unique wind profiles. The ongoing partnership with Sunsure, which now spans nearly 300 MW across Maharashtra and Karnataka, illustrates how Suzlon is deepening relationships with key commercial and industrial players to secure steady, long-term revenue streams outside of standard government tenders. Innovation continues to be the lifeblood of the company, culminating in a historic technological milestone recently. Suzlon proudly commissioned India’s tallest and most powerful wind turbine, the S175 5 MW model, in Karnataka’s Vijayanagar district. Launched with much fanfare by Union Minister Pralhad Joshi, this engineering marvel stands on a 160meter hybrid lattice tower, features a staggering 175meter rotor, and reaches a blade tip height of 247.5 meters. SEASONAL MAGAZINE

This is not just a vanity engineering project; it is India’s first Firm and Dispatchable Renewable Energy (FDRE) ready turbine. By reaching higher altitudes where wind speeds are stronger and significantly more consistent, the S175 makes previously unviable low and medium wind sites economically attractive. This unlocks vast new geographies for wind development across the subcontinent, directly addressing the persistent challenge of resource limitation and land scarcity in high-wind coastal belts. Yet, for all its technological prowess and pristine financial health, Suzlon operates in an ecosystem fraught with systemic challenges. The company currently boasts a massive 5.9 GW order book, a figure that promises sustained revenue visibility for the next couple of years. However, in the Indian wind sector, an order book is only as good as its groundlevel execution rate. Historically, the industry has been plagued by severe bottlenecks regarding land acquisition, right-of-way disputes with local communities, and critically delayed grid connectivity. These external factors remain the most significant threat to Suzlon’s growth trajectory. If state governments and central transmission utilities fail to synchronize their infrastructure development with turbine deployments, Suzlon could face delayed cash flows, penalty clauses, and inventory pile-ups. The management’s mitigation strategies will be tested vigorously as they attempt to translate this massive backlog into actual, commissioned generation capacity. Furthermore, Suzlon’s current success is heavily

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predicated on the Indian domestic market. The aggressive government targets for renewable energy have created a fertile, captive environment for growth, resulting in the record 2.5 GW of domestic deliveries in FY26. While this localization is a current strength, shielding them from global supply chain wars, it inherently exposes the company to localized policy shifts, state-level tariff

importantly, the rebranding announcement underscores Suzlon’s strategic pivot from being a pure-play wind original equipment manufacturer to a full-stack clean energy solutions provider, built to serve the new energy-intensive world. This ambitious evolution is both a massive opportunity and a formidable challenge. As India accelerates towards complex hybrid power solutions, round-the-clock power supply contracts, and grid-scale energy storage integrations, Suzlon’s decision to broaden its scope is entirely necessary for survival. The market no longer wants just isolated turbines; it demands comprehensive, intelligent energy systems. However, venturing into adjacent clean energy domains means competing head-to-head with wellcapitalized conglomerates and specialized pure-play firms in solar and green hydrogen. Protecting operating margins in these highly competitive, often commoditized spaces will require Suzlon to leverage its massive wind asset management experience and vast data analytics, while carefully avoiding the trap of aggressive over-diversification that once threatened its very existence. renegotiations, and bureaucratic delays. To truly secure its future and insulate itself from domestic volatility, Suzlon will eventually need to revive its international footprint, competing once again in mature global markets. The recent unveiling of the S175 and S163 platforms tailored for international markets hints at this grand ambition, but translating product launches into actual global market share will require intense capital deployment, fierce competition against European manufacturers, and meticulous brand rebuilding abroad. Speaking of brand building, the company has astutely recognized that its turnaround required a refreshed public identity to match its clean balance sheet. Partnering with global consultancy Interbrand, Suzlon recently unveiled its new corporate identity anchored by the compelling tagline, Good Energy That Works. This rebranding at a juncture of financial triumph is a calculated, brilliant move to shed the lingering baggage of its debt-ridden past. It signals a profound cultural shift within the organization, emphasizing reliability, long-term performance, and sustainable value creation. More

The enduring legacy of Tulsi Tanti was built on the audacious belief that India could and should lead the world in renewable technology. Today, under the steady, pragmatic hands of Vinod Tanti, Girish Tanti, JP Chalasani, and the broader executive team, that belief is securely anchored by strong financial fundamentals and cutting-edge engineering like the S175 platform. Suzlon Energy has proven its resilience beyond measure, effectively silencing skeptics and rating agencies who had written its obituary a decade ago. The immediate future looks overwhelmingly bright, driven by robust domestic demand, supportive government mandates, and a healed balance sheet. Yet, the leadership inherently knows that the winds of the global energy sector are notoriously fickle. Navigating the brutal execution challenges of a massive order book, diversifying cautiously into full-stack solutions without bleeding cash, and maintaining strict fiscal discipline will dictate whether this current success is a temporary gust or a permanent prevailing wind. For now, Suzlon is delivering exactly what it promises: good energy that is undeniably working, and a turnaround story that will be studied for years to come. SEASONAL MAGAZINE

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How ESAF Small Finance Bank Scripted a Resurgent Growth Story Navigating the turbulent small finance sector of India requires a balance of compassion and commercial prudence, a tightrope ESAF Small Finance Bank has masterfully walked. Under the visionary leadership of its Founder, MD & CEO Dr. Paul Thomas, the bank has transitioned from mid-year distress to a triumphant close of financial year 2026 and beyond. Facing severe asset quality headwinds that rattled the broader industry, ESAF leveraged its stronghold in overseas inward remittances and deep rural outreach. By strategically diversifying into secured lending sectors and introducing innovative retail products, the institution crossed the monumental milestone of Rs 50,000 crore in total business for an SFB. With a robust fourth-quarter profit recovery, improving asset metrics, and rebounding stock performance, ESAF exemplifies grassroots resilience, proving that targeted growth strategies can silence market skeptics and sustainably expand financial inclusion.

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he journey of ESAF over the past year reads like a financial thriller, complete with unexpected downturns and a resilient comeback. Early in the fiscal year 2026, the microfinance sector faced severe macroeconomic stress. High interest rates squeezed net interest margins, while seasonal cash-flow disruptions among rural borrowers led to a spike in delinquencies. Like its peers, ESAF bore the brunt of this industry-wide storm. During the second quarter, the bank reported a sobering net loss as elevated funding costs and mandatory provisioning weighed heavily on its balance sheet. However, this dip was a cyclical stress test, one that the bank utilized to recalibrate its risk appetite and tighten its delinquency management protocols. The turnaround materialized emphatically in the fourth quarter of the financial year 2026. Silencing the bears, ESAF reported a net profit of Rs 24 crore for Q4 FY26, a stark contrast to the staggering loss of Rs 183 crore in the corresponding period last year. This profitability was driven by optimized loan disbursements and a crucial stabilization in credit costs. Asset quality saw a decisive improvement, with gross nonperforming assets (GNPA) dropping from nearly 7% down to 5.4%, while net non-performing assets (NNPA) contracted to 1.8% year-on-year. This recovery firmly demonstrated the intrinsic durability of the bank’s borrower base and its enhanced recovery mechanisms. Accompanying these financial results was the bank crossing Rs 50,000 crore in total business, validating its dualengine growth strategy. Deposits surpassed Rs 26,000 crore, while gross advances stood formidably at over Rs 23,000 crore. A critical buffer during tough quarters has been ESAF’s legacy strength in overseas inward remittances.

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Rooted in Kerala, a state with a massive global diaspora, the bank has consistently leveraged its remittance networks to generate steady fee income and cultivate low-cost retail deposits, effectively insulating its margins from pure lending risks. This structural evolution is heavily credited to the stewardship of Dr. Paul Thomas. With over three decades of experience, starting from organizing women into self-help groups, he instilled a culture of responsible banking. His guiding philosophy ensures that the bank never loses sight of its social enterprise roots even while pursuing commercial milestones. Under his direction, the bank navigated the microfinance slump not by abandoning its core constituency, but by diversifying its exposure sensibly into more sustainable growth avenues. This diversification into other lending sectors has become the linchpin of the bank’s recent success. Recognizing the inherent volatility of unsecured microloans, ESAF successfully pivoted a significant portion of its portfolio toward secured asset classes. By expanding into retail loans, affordable housing, agriculture, and micro-enterprise financing, the bank de-risked its balance sheet. New product offerings tailored to the

emerging middle class have deepened its market penetration, securing higheryield yet lower-risk avenues for credit expansion. These strategic shifts were supported by branch network expansion and heavy investments in digital banking. The stock market mirrored this volatile yet rewarding trajectory. Following disappointing mid-year results, the bank’s shares experienced a significant drawdown as investors fretted over the asset quality contagion in the sector. However, the resilient Q4 FY26 earnings and the Rs 50,000 crore business milestone acted as a powerful catalyst for a strong rebound. The stock rallied over 88% from its yearly low to trade near the Rs 37 mark, pushing its market capitalization well beyond Rs 1,700 crore. This price action suggests renewed institutional confidence in the bank’s capacity to absorb economic shocks. Ultimately, the trajectory of ESAF Small Finance Bank serves as a bellwether for the entire microfinancebased banking industry. The fall and subsequent recovery underscore that while the traditionally bottom-of-thepyramid borrower remains sensitive to shocks, a diversified product suite and visionary leadership can weather the toughest storms. As it steps into the next phase of its growth journey, ESAF stands wellpositioned to set the pace for inclusive and sustainable banking.

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Building on the solid foundation of Vibrant Gujarat 2024, the subsequent regional conferences of the event help in integrating MSMEs in every nook & corner of the state into the broader supply chain of the big investment projects, thereby raising the momentum to the next edition of Vibrant Gujarat slated to happen in January 2027, seven months from now. After the noted successes of the regional conferences at Mehsana, Rajkot & Surat, the event is now all set to happen in Vadodara on June 29 & 30. Chief Minister Bhupendra Patel is directly overseeing the Vibrant Gujarat initiatives with all support from the Central Government led by Prime Minister Narendra Modi. The Vibrant Gujarat initiative, originally launched to position the state as a global investment hub, has evolved significantly during its more than two decades of existence. Under the guidance of Chief Minister Bhupendra Patel and the continued support of Prime Minister Narendra Modi who started this event while he was CM of the state, the Gujarat government has expanded this successful model beyond the capital of Gandhinagar. The introduction of Vibrant Gujarat Regional Conferences aims to unlock the unique industrial strengths of specific districts, ensuring that development trickles down to the grassroots. These regional conferences provide small and medium enterprises with direct access to international markets, foster innovation, and address local infrastructural needs through targeted district-level programs, ultimately democratising economic opportunity across the state. Since the last main Vibrant Gujarat Global Summit in January 2024, the state has successfully hosted three highly impactful regional editions. The North Gujarat regional conference held in Mehsana set a strong precedent by attracting significant attention to the area, witnessing the signing of over 1200 agreements worth Rs 3.25 lakh crore. Similarly, the regional conference for Kutch and Saurashtra regions, held at Rajkot was a noted success. It focused on the region’s famed ceramics, engineering, and ports business. This was followed by the South Gujarat edition in Surat, which too proved to be a massive success. The South Gujarat conference witnessed the signing of nearly 2800 MoUs, pledging investments worth a staggering Rs 3.53 lakh crore. These investments are projected to generate over 2.80 lakh direct employment opportunities over the coming years, with a special focus on empowering women in tribal districts through the growing garment sector. Building on this tremendous momentum, the upcoming Central Gujarat Regional Conference

is scheduled to be held in Vadodara in late June. Covering ten districts, Central Gujarat is a true industrial powerhouse, accounting for 28% of the state’s total manufacturing output. The Vadodara conference will highlight the region’s dominance in chemicals, petrochemicals, automotive components, and pharmaceuticals. Expected to draw stakeholders from government, industry, and foreign missions, the event will focus heavily on sunrise sectors like semiconductors, biotechnology, and green energy. Additionally, tourism will be a major theme, showcasing heritage sites like the Pavagadh Archaeological Park and the Statue of Unity to attract eco-tourism investments to the region. Beyond Vadodara, the state is gearing up for the main Vibrant Gujarat event that should have happened in 2026 but was postponed to 2027 due to conflict with election schedules. Each of the regional events serve as crucial building blocks, meticulously gathering local business insights, showcasing district-level achievements, and bridging supply chain gaps. By bringing global opportunities directly to local artisans and manufacturers, the state is ensuring that every tier of the business ecosystem is integrated into the broader economic narrative. This decentralised strategy is rapidly building momentum for the next main edition of the Vibrant Gujarat Global Summit, slated to happen in January 2027. By solidifying regional economies and fostering targeted investments, Gujarat continues to strengthen its position as India’s manufacturing leader and a key driver of the national economy. Compared to other Indian states, Gujarat consistently leads in logistics, export volumes, and industrial output, contributing heavily to the vision of a Viksit Bharat (developed India) by the year 2047. The regional summits are proving to be the perfect catalyst, ensuring that the state remains a premier, stable destination for global investment while leaving no local community behind. SEASONAL MAGAZINE

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ENGINEERING THE TOMORROW AT KARUNYA UNIVERSITY Karunya Institute of Technology and Sciences (KITS) in Coimbatore continues to redefine technical education by seamlessly blending advanced engineering disciplines with a profound commitment to human values and sustainable development. Popularly called as Karunya University, the institution has in its chequered history, solidified its position as a premier educational destination under the visionary leadership of its Chancellor Dr Paul Dhinakaran. This deemed university’s long list of accomplishments include pioneering courses in AI, impressive standings in the National Institutional Ranking Framework (NIRF), as well as in the Quacquarelli Symonds (QS) and Times Higher Education (THE) global metrics, reflecting its uncompromising academic rigour. The university has made significant strides in artificial intelligence education, pioneering specialised engineering programmes and establishing state-of-the-art laboratories in collaboration with global tech giants like Nvidia and IBM. Furthermore, strategic academic and industrial alliances spanning from South Korea to the United Kingdom have enriched the learning ecosystem. A triumphant placement season, a streamlined admission process for the imminent academic year, and a memorable convocation ceremony collectively underscore the university’s relentless pursuit of excellence and student success.

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estled in the serene foothills of the Western Ghats in Coimbatore, Karunya Institute of Technology and Sciences has consistently demonstrated its capability to adapt to the rapidly evolving educational landscape. Over the late months of the previous year and the first half of the current year, this deemed university has witnessed a period of transformative growth, cementing its reputation as a dynamic hub of technological innovation and holistic education. Guided by the spiritual and visionary leadership of Chancellor Dr Paul Dhinakaran, the university remains dedicated to its founding mission of finding solutions to human problems through scientific research and ethical grounding. Complementing this overarching vision is the administrative and academic acumen of Vice Chancellor Dr R Elijah Blessing, whose extensive

Dr Paul Dhinakaran Chancellor background in computer science and engineering has been instrumental in steering Karunya University towards a future-centric curriculum. Together, the leadership has fostered an environment where academic rigour, research excellence, and character building go hand in hand, ensuring that graduates are not only industry ready professionals but also responsible global citizens capable of tackling complex societal challenges. A key indicator of Karunya University’s robust academic framework is its performance in major national and international benchmarking systems. In the latest NIRF assessment, the university secured a commendable position in the 101-150 band for both the University and Engineering categories, while placing in the 151-200 band overall across the country. Globally, the university has made its mark in the Times Higher Education (THE) World University Rankings, securing a spot in the 1201-1500 band

worldwide and ranking in the 401500 band in the Asian continent. The subject specific rankings further validate Karunya University’s academic prowess, with Computer Science placed in the 601-800 band and Engineering in the 801-1000 band globally. Notably, the institution also shone in the Interdisciplinary Science Rankings powered by Times Higher Education in association with Schmidt Science Fellows, securing a global rank between 351-400. Karunya has also demonstrated a strong commitment to environmental consciousness, which is reflected in the Quacquarelli Symonds (QS) landscape. The university was placed 694th overall in the Asia rankings. Emphasising its dedication to sustainable development, the institution achieved a global rank in the 1401-1500 band in the QS Sustainability Rankings, securing the 52nd position in India and the 447th spot in Asia. SEASONAL MAGAZINE

This is a clear testimony to its green campus initiatives, clean energy adoption, and research initiatives oriented towards societal well being and environmental conservation. These metrics are not merely numbers but a reflection of a concerted effort by the faculty, researchers, and administrative staff to elevate the standard of education and research outputs, making Karunya University a highly competitive destination for higher learning on the global stage. The academic landscape at the university has been heavily influenced by the global surge in artificial intelligence, prompting a rapid and comprehensive curriculum overhaul to meet the demands of the fourth industrial revolution. The flagship offering in this domain is the specialized Bachelor of Technology in Computer Science and Engineering with a focus on Artificial Intelligence and Machine Learning. This four year full time programme is meticulously designed to equip students with a profound understanding of neural networks, computer vision, natural language processing, and deep learning architectures. Karunya students delve into complex algorithms and data analytics, transitioning from theoretical foundations to practical problem solving in real time scenarios. Beyond this dedicated degree,

Dr R Elijah Blessing Vice Chancellor

artificial intelligence concepts have been deeply interwoven into other engineering and science disciplines to create a multidisciplinary approach, at Karunya. Courses in biotechnology now explore genome engineering through machine learning models, while healthcare technologies focus on medical image processing and data driven diagnostics. Even fields like agriculture and water resource management are incorporating advanced data analytics, sensor networks, and drone

technologies to optimize resource utilization and promote sustainable agricultural practices. To support this ambitious technological leap,Karunya University has forged formidable industrial partnerships, ensuring that students have access to the most advanced tools, software, and computing infrastructure available in the market today. A landmark collaboration with Nvidia, the global pioneer in artificial intelligence computing, has brought the state-of-the-art DGX Station to the campus premises. This supercomputing facility drastically accelerates machine learning training, empowering students and researchers to perform complex data science tasks up to 215 times faster than conventional computing systems. In a similar vein, Karunya signed a memorandum of understanding with IBM India to establish the Big Data Software Centre of Excellence. This initiative provides an immersive learning environment where students

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master the latest big data tools, gaining highly sought after skills in data analytics and enterprise solutions. Furthermore, the institution recently strengthened its cybersecurity and data science offerings by partnering with CompTIA, a global leader in information technology certifications. This alliance ensures that students receive industry standard training, bridging the gap between academic knowledge and real world corporate application. The global footprint of the institution has expanded significantly through strategic overseas academic tie ups, fostering a vibrant exchange of knowledge, pedagogical techniques, and cultural perspectives. Karunya University entered into a crucial mutual agreement with the University of the West of England in Bristol to establish an international credit transfer and articulation programme. This partnership provides students with a seamless pathway to pursue advanced studies in the United Kingdom, allowing them to gain invaluable global exposure and experience international academic standards.

Further cementing its international ties, the university hosted a high level delegation from Jungwon University, South Korea, to strengthen bilateral academic collaboration. This visit aimed at paving the way for joint research projects, student and faculty exchange programmes, and cross cultural learning experiences. Additionally, Karunya played a pivotal role in the Indo German Roundtable on Sovereign Artificial Intelligence, positioning itself at the forefront of international dialogues on ethical technology development, digital sovereignty, and the future of cross border technological policies. These robust academic and industrial

foundations have naturally culminated in stellar placement records, bringing immense pride to the student community, parents, and faculty members alike. The recent placement season witnessed an overwhelming response from top tier national and multinational corporations, eager to recruit from the university’s diverse talent pool. The highest salary package offered reached an impressive 23.5 lakhs per annum, reflecting the high value employers place on the niche skills acquired by Karunya graduates. Overall, the university facilitated nearly 1500 successful placements, with over 400 students receiving multiple job offers from competing firms, bringing the total number of

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offers to a staggering 1900. The recruitment drive saw active participation from 375 companies across various corporate sectors. Prominent industry giants such as Accenture, Amazon, Capgemini, Bosch, and Ernst and Young were among the top recruiters, snapping up talent from Karunya’s engineering, management, and applied science departments. The placement percentage witnessed a steady and encouraging increase, with the median salary also rising significantly, underscoring the effectiveness of the intensive training, soft skills development, and industry aligned curriculum provided by the dedicated placement cell of the institution. The journey of a student at Karunya’s vibrant campus begins with a highly structured, transparent, and merit driven admission process that seeks out the brightest minds from across the nation. For the engineering aspirants, the university meticulously organizes the Karunya Entrance Examination. Recognizing the diverse geographical and logistical needs of the applicants, the university schedules the online computer based test in multiple distinct phases, allowing candidates to choose a slot that best fits their preparation cycle. This flexible approach, combined with a comprehensive syllabus focusing on core science and mathematics subjects, ensures that a vast pool of talented students gets a fair and equal opportunity to secure a seat in their preferred engineering branches. Beyond engineering, the Karunya University continues to attract bright minds for its management, agriculture, and applied science programmes, employing a rigorous selection process that values academic merit, standardized test scores, and personal interviews. The campus life that awaits these admitted students is a beautiful blend SEASONAL MAGAZINE

of intense academic rigor and enriching extracurricular activities. A prime example of this vibrant campus culture is MindKraft, a spectacular two day technical festival that serves as a melting pot of ideas, innovation, and technical prowess. This grand event allows students to showcase their projects, participate in coding hackathons, and interact directly with industry experts, thereby fostering a culture of continuous learning and creative problem solving outside the traditional classroom setting. The culmination of this arduous but deeply rewarding academic journey is celebrated during the annual convocation, a momentous occasion that encapsulates the very essence of the university’s spiritual and academic ethos. The 31st convocation ceremony held last July with great pomp, dignity, and solemnity, was a true testament to the hard work, resilience, and dedication of the graduating cohort. The event commenced with a majestic academic processional march, setting a dignified tone for the proceedings of the day. Karunya’s Chancellor Dr Paul Dhinakaran delivered a heartfelt and inspiring address to the gathering, reiterating the institution’s unwavering commitment to fostering academic excellence, technological innovation,

and spiritual growth among the youth. The Chief Guest of the event was Shri Lalduhoma, the Honorable Chief Minister of Mizoram. The highlight of the ceremony was the felicitation of graduates, where degrees and special accolades were conferred amidst thunderous applause from proud parents and faculty members. Outstanding students were honoured with the prestigious Chancellor awards for their exceptional academic performance, leadership qualities, and significant contributions to campus life. Notable among the awardees were top performing students from the Artificial Intelligence and Data Science department, who exemplified the high standards of technical proficiency and leadership cultivated at Karunya. The convocation concluded on a highly emotional and hopeful note, with graduates stepping out into the professional world, equipped not just with cutting edge technical knowledge but also with a profound sense of purpose, ethical responsibility, and a deep desire to make a tangible difference in the global landscape. The upcoming 32nd convocation of Karunya University in July 2026 will go even one orbit beyond to fortify the university’s position across all domains.

How CM Chandrababu Naidu is Closing the Gap With Andhra’s Southern Peers in GSDP, FDI & Income Andhra Pradesh is scripting one of the most aggressive economic turnarounds in contemporary India, rapidly transitioning from a phase of recovery to an era of hyper growth under the visionary leadership of Chief Minister N Chandrababu Naidu. While realistically still trailing neighboring industrial heavyweights like Tamil Nadu, Karnataka, and Telangana in total economic output, historical foreign direct investment, and per capita income, the state is decisively closing the gap to claim its position as the ultimate powerhouse of the nation’s future economy. Anchored by a strategic blueprint that harmonizes deep tech innovations like the $15 billion AI data center at Vizag by Google & Adani, and South Asia’s first mega quantum computing system by IBM at Amaravati, and blended with grassroots level entrepreneurship, the state is moving swiftly.

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hrough high velocity infrastructure execution like the Rs 57,000 crore new capital city at Amaravati, pioneering global technology partnerships, and unprecedented welfare integration, the administration is building a resilient, future ready ecosystem. Moving swiftly beyond traditional governance models, the state is fostering a massive digital transformation that reaches from sophisticated quantum computing centers in Amaravati to bustling micro enterprises in rural heartlands. Driven by multi billion dollar commitments from multinational conglomerates and robust backing from Prime Minister Narendra Modi and Central Government, this monumental resurgence is setting a new benchmark for sustainable, inclusive, and technology driven development on a global scale.

escalation is the state’s fierce push to democratize wealth creation, recently unveiled at the landmark MSME Growth Summit in late May.

The momentum of this transformation has accelerated significantly in recent months, marked by a series of aggressive policy rollouts and monumental project groundbreakings that highlight a governance model operating at breakneck speed. A cornerstone of this rapid Here, the government launched the profoundly ambitious One Family One Entrepreneur initiative, a visionary master plan designed to cultivate one crore new entrepreneurs across the state. By laying the foundation for thirty eight new industrial parks and pledging to transform five lakh women from self help groups into active business leaders this year alone, the administration is weaving enterprise into the very fabric of both rural and urban Andhra Pradesh. To ensure these emerging grassroots enterprises can compete on a formidable global stage, the state has forged powerful, unprecedented strategic alliances with some of the world’s largest digital and logistics giants. Groundbreaking agreements signed recently with industry titans like Meta, Amazon, Zoho, and Vodafone Idea are set to digitally empower over one lakh micro and small businesses. These dynamic partnerships will facilitate deep digital integration, streamlined global e-commerce access, and robust capacity building. This sweeping digital maturity assessment program guarantees that local products manufactured in the remote districts of Andhra Pradesh can seamlessly access and conquer international markets.

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Parallel to this grassroots entrepreneurial revolution is a staggering acceleration in mega infrastructure and frontier technology projects. Visakhapatnam is rapidly morphing into India’s premier computational capital, heavily bolstered by the actively progressing 15 billion dollar Google and Adani artificial intelligence data centre campus. This gigawatt scale green facility is meticulously engineered to house the most advanced hardware for deep learning and massive artificial intelligence model training. Despite complex local dialogues regarding ecological balance, the administration is steering this monumental project to firmly anchor the coastal city as a premier global hub for next generation data processing and digital infrastructure. Simultaneously, the state is executing a massive geographical diversification of its economic assets, ensuring that growth is not confined to a single corridor. Recent strategic declarations have earmarked the historically arid Rayalaseema region for a massive forty thousand crore investment, purposed to completely transform it into a national horticulture and agriculture hub. Adding to this regional revival, the state just inaugurated India’s first commercial-scale private gold mining operation since Independence at Jonnagiri in Kurnool district in late June 2026, targeting an annual production of 1,000 kg of refined gold and significantly reducing the nation’s import dependence.

This is coupled with the recent groundwork laid in midMay 2026 for a highly advanced Advanced Medium Combat Aircraft (AMCA) testing centre at Puttaparthi, alongside the launch of a massive ‘Drone City’ project in Kurnool featuring multiple UAV manufacturing companies. This strategic move ensures that the defense manufacturing corridor stretching from Puttaparthi to Bengaluru becomes a critical, high value node in India’s broader national security and aerospace framework. The physical resurrection of the greenfield capital Amaravati has also transitioned from meticulous planning to high speed execution. In recent high level administrative directives, CM Chandrababu Naidu has put over 57,000 crores worth of this new capital city construction on a strict, fast tracked timeline. The mandate is clear that the new capital must be built utilizing sustainable green energy and cutting edge modern construction technologies, reflecting an unyielding commitment to environmental sustainability alongside rapid, large-scale urbanization. Furthermore, a stringent, uncompromising focus on maritime and aviation logistics is radically reshaping the state’s physical connectivity. Accelerated development protocols have been activated for vital deep water ports at Mulapeta, Ramayapatnam, and Machilipatnam, alongside expedited regulatory clearances for new greenfield airports in Dagadarthi, Kuppam, and Srikakulam.

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By successfully securing a staggering 21.6 lakh crores in overall cumulative investments across 756 projects targeted to create 21.2 lakh jobs in just 23 months, the administration has decisively shifted the state into a permanent high growth trajectory. While almost all states in India are currently undergoing a metamorphosis that feels like gradual transitions, the transformation at Andhra Pradesh comes across as a high

confidence but has also positioned the state as a critical engine for India’s national growth. The political comeback of Chief Minister Naidu in 2024 brought with it a renewed sense of administrative urgency and a feel of real time governance. Declaring 2026 as the Year of Technology Driven Decision Making, the CM has integrated Artificial Intelligence into the very fabric of public service delivery. The Super Six promises, once campaign slogans, are now operational realities: millions of mothers receive financial support via the Talliki Vandanam scheme, and women across the state benefit from free bus travel. These social safety nets are balanced by a massive push for wealth creation, as evidenced by a staggering double digit GSDP growth rate of 11.28 percent, signaling a state that is both caring and competitive. The sheer scale of capital flowing into the state is perhaps the most visible indicator of this revival. In the first nine months of the 2025-26 fiscal year alone, Andhra Pradesh captured over 25 percent of India’s total proposed capital investment, outperforming industrial giants like Maharashtra and Gujarat.

velocity launch into the future capable of generating over 2 million new jobs. Under the seasoned leadership of Chief Minister N Chandrababu Naidu, the state has shed the stagnation of previous years to emerge as India’s premier investment destination, backed by a robust partnership with the Central Government and Prime Minister Narendra Modi. With a clear eyed focus on Swarna Andhra 2047, the Chandrababu Naidu administration is blending compassionate welfare with a fierce, technology driven development agenda. This dual approach has not only restored investor

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Major global players have anchored themselves in the state’s burgeoning ecosystems; apart from Google’s landmark AI powered data center in Visakhapatnam, Reliance is setting up the nation’s largest food park in the Rayalaseema region. These projects are part of a broader Rs 20 lakh

crore investment roadmap designed to create two million jobs, ensuring that the state’s youth are the primary beneficiaries of this economic surge. At the heart of this transformation is the resurrection of Amaravati, projected as the Peoples Capital. Stalled for a long time, the city has now been accorded statutory status as the permanent capital with the direct support of the Central Government. Amaravati’s skyline is rapidly changing as construction resumes on a massive scale, supported by the Rs 57,000 crore investment plan. Amaravati is being designed not just as an administrative seat but as a Quantum Valley, an integrated ecosystem for deep tech innovation. This ambitious hub is set to host South Asia’s first quantum computing system by late 2026, featuring IBM’s 156 qubit Quantum System Two, marking Andhra Pradesh’s entry into the elite global league of frontier technology. The state’s focus on the knowledge economy extends deep into its education and research sectors. To prepare the workforce for the quantum era, the State Council of Higher Education has mandated quantum computing curricula across all universities, with Andhra University leading the way with dedicated degree programs. This is complemented by the Ratan Tata Innovation Hub, which serves as an incubator

for startups in AI and deep tech. By bridging the gap between classroom learning and industrial applications, the government is ensuring that the Telugu talent that helped build Silicon Valley, Bengaluru and Hyderabad, now has a world class playground right at home in the East Coast’s new technology corridor. A defining characteristic of this new era is the seamless synergy between the state and the Union Government. Prime Minister Narendra Modi has frequently highlighted SEASONAL

INSIDE REVA UNIVERSITY’S ‘EDUCATE TO ENTERPRISE’ INITIATIVE

In the bustling tech corridor of North Bengaluru, Reva University has transitioned to a global powerhouse of 15,000+ learners. Under the visionary leadership of Chancellor Dr. P. Shyama Raju, the university recently launched its ‘Educate to Enterprise’ roadmap. This strategic pivot moves beyond traditional rote learning to instill an entrepreneurial mindset, preparing graduates to be job creators in an AI-driven global economy. The 2025–2026 academic year stands as proof to this growth. Reva maintained its credentials with a NAAC A+ grade and secured a prominent spot in the NIRF 2025 rankings (151–200 band for Universities). Internationally, it is gaining ground, appearing in the Times Higher Education (THE) World University Rankings 2026, and ranking 292nd in Southern Asia by QS. These accolades are mirrored by a robust placement season where 4,482 offers were made by 621 companies, including giants like Amazon and IBM, featuring a highest CTC of 40 LPA. Innovation is the Reva campus’ true pulse. Recent milestones include the launch of TerraDT (a digital twin for sustainable destinations) and the Reva Rise initiative for rural merit. With over 100 international tie-ups and a research ecosystem boasting 1,000+ filed patents, Reva is bridging the gap between classroom theory and industrial application. By fostering 82+ startups through its Reva Nest incubator, the university is actively rewriting the future of Indian higher education.

SKILLS

HOW TO MASTER ANY SKILL STRUGGLE DURING LEARNING IS NOT FAILURE. IT’S A SIGN THAT YOUR BRAIN IS ADAPTING AND FORMING NEW SKILLS. MASTERY IS A NON-LINEAR, ONGOING PROCESS THAT RELIES MORE ON CONSISTENT PRACTICE AND ADAPTABILITY THAN INTENSITY OR FLAWLESS TECHNIQUE. APPROACHING IMPROVEMENT AS A SERIES OF SMALL EXPERIMENTS CAN HELP YOU LEARN FASTER, STAY MOTIVATED, AND AVOID QUITTING TOO SOON.

obvious and true, but that are actually counterproductive. Here are the most damaging ones: Misconception #1: Mastery is a destination. We imagine crossing a finish line where we’ll finally “arrive” as experts. Watch any master craftsperson, though, and you’ll see someone still questioning their approach, still discovering new techniques, still experimenting and pushing into uncharted territory. Misconception #2: Improvement is linear. We expect steady, measurable progress: practice more, get better, repeat. Reality looks more like a stock chart: long plateaus punctuated by sudden jumps, with occasional dips when you’re integrating something new. Misconception #3: Mastery requires extreme intensity. Research shows that sustainable, consistent practice beats sporadic bursts of intensity. Someone who practices 30 minutes daily for a year will typically outpace someone who practices 3 hours once a week. Misconception #4: Technique is everything. We obsess over the mechanics: the “right” way to hold the instrument, the perfect form, the exact method. But while technique matters enormously, so do mindset, feedback loops, rest, and environmental support.

fter years of studies and six months in New York, I was convinced I’d mastered English. I was cracking jokes with American friends, binge-watching shows without subtitles, and even thinking in English half the time.

Then I moved to London for my first job at Google, and suddenly, I felt like I’d never truly master the language. Colleagues used phrases I’d never heard. Cultural references flew over my head. I found myself nodding along in meetings, pretending to understand jokes that left me completely lost. It felt terrible. I was encountering the growing pains inherent to mastery, but everything I’d SEASONAL MAGAZINE

been told about getting good at something had set me up to misinterpret this growth as failure. Our cultural narrative about mastery is not just incomplete. It’s actively misleading, and we’ve mythologized mastery in ways that make people quit right when they might be breaking into new territories. The five lies we tell ourselves about mastery The problem starts with how we think about mastery itself. We carry a set of deeply ingrained assumptions about how it works — assumptions that feel

Misconception #5: Mastery feels easy once achieved. This is perhaps the most dangerous myth of all. Even masters experience frustration and have to revisit fundamentals, but they’ve learned to find satisfaction in the process itself, not just the outcomes. So, if all our assumptions about mastery are wrong, what actually works? The answer lies in how our brains learn and adapt. Achieving mastery through experimentation Our brains adapt most rapidly when faced with novel challenges, not repetitive drilling. Perhaps most

importantly, studies on what researchers call “desirable difficulty” show that struggle isn’t a sign that you’re failing. It’s a sign that your brain is forming new neural pathways. That’s why experts don’t just repeat what they know — they constantly experiment at the edge of their abilities. Instead of grinding through repetition, they treat every practice session like a mini-laboratory. Here’s what that looks like: Run tiny experiments. Let go of the idea of mastery as a destination. Instead, experiment with different approaches. A programmer might experiment for a few days with coding without looking at Stack Overflow or ChatGPT. A musician might practice scales for 10 minutes before touching any songs for two weeks. These tiny experiments let you test the boundaries of your knowledge while embracing the in-betweens.

Design feedback loops. Create systems that help you notice what’s working. You might track which new words you actually use in conversation, photograph your work at different stages to see patterns in your process, or ask for specific feedback after each one-onone meeting with your manager. Good feedback loops help you recognize subtle opportunities for improvement that are easy to miss day-to-day. Approach challenges with curiosity. Masters treat obstacles as puzzles to solve. When you hit something difficult, get curious. What, specifically, is hard about this? Is there a different angle to try? What would happen if you broke the problem into smaller pieces?

WHITE DESERT REWRITES ANTARCTIC LUXURY WITH TOTAL CAMP OVERHAUL AS POLAR TOURISM LEAVES CONQUEST BEHIND

White Desert Antarctica, the only luxury operator with permanent seasonal camps on the southern continent, has just completed a comprehensive overhaul of its three properties, most notably the flagship Whichaway camp where the company’s story began two decades ago. The continent that holds 90% of the world’s ice has never been particularly accommodating to human ambition, yet the transformation represents more than aesthetic updates. It signals a shift in how polar tourism is being packaged for travelers, who increasingly view extreme destinations not as conquest opportunities, but as spaces for genuine disconnection from an overstimulated world. White Desert has rebuilt Whichaway entirely while relaunching its Explorer camp, betting that the appetite for Antarctic experiences now extends beyond expedition purists to include guests seeking luxury wilderness immersion. Whichaway occupies a position in the Schirmacher Oasis, an ice-free zone

that comprises less than 3% of Antarctica’s landmass. Such terrain is exceptionally rare. Most of the continent remains buried under ice sheets averaging 1.9 kilometers thick. Here, blue ice cliffs rise against a network of more than a hundred freshwater lakes, creating visual drama that the redesigned pods now frame through expanded windows. Founders Patrick and Robyn Woodhead established the camp years ago, naming it after Patrick’s first reaction when surveying the windswept coastline: “Which-a-way?” That question captured the disorientation inherent to a landscape where familiar markers of direction and scale cease to function normally. What began as a husband-and-wife operation has evolved into a company that now serves approximately 150 guests per season, according to industry reports, flying them via private Gulfstream jet from Cape Town to a blue-ice runway that the company maintains year-round.

Real mastery isn’t about arriving somewhere. It’s about becoming the kind of person who can navigate anywhere, developing such comfort with experimentation that you can adapt, grow, and find new edges no matter what domain you’re exploring. (Anne-Laure Le Cunff for Ness Labs) SEASONAL MAGAZINE

MANAGEMENT

THE EPIDEMIC OF RELUCTANT MANAGERS IN CORPORATES

FOR THE PAST COUPLE OF YEARS, GARTNER RESEARCH HAS SUGGESTED THAT ORGANIZATIONS HAVE A MANAGEMENT PROBLEM. FOR EXAMPLE, IN AN APRIL 2024 GARTNER SURVEY OF 162 HR LEADERS, ONLY 35% AND 27% REPORTED BEING SATISFIED WITH THE EFFECTIVENESS OF MID-LEVEL AND FRONTLINE MANAGERS, RESPECTIVELY. EMPLOYEES AREN’T IMPRESSED EITHER: A JULY 2024 GARTNER SURVEY OF 3,529 EMPLOYEES FOUND THAT ONLY 38% REPORTED SATISFACTION WITH THE QUALITY OF THEIR MANAGER, AND JUST OVER HALF REPORTED THAT THEY TRUST THEIR MANAGER.

hen managers don’t deliver, the costs can add up, often manifesting as a drag on productivity, performance, and morale. Not only that, it puts the retention of valuable team members at risk— especially perilous in today’s environment of critical skills shortages and hiring freezes. HR leaders have been taking notice. In a July 2025 Gartner survey of 900 HR leaders, nearly 80% acknowledged that managers are overwhelmed by the expanding scope of their responsibilities—a trend that’s likely to continue alongside rapid technological transformation. SEASONAL MAGAZINE

However, we’re seeing that the problem increasingly lies with managers who find themselves reluctantly filling the role. A May 2025 Gartner survey of 3,000 employees found that one in four managers would prefer not to be people managers, up from one in five just two years ago. Why the reluctance? Many of these managers found themselves in the role without knowing much about it beforehand, with less than a third reporting exposure to simulations, mentorship, or opportunities to gauge whether they were suited to becoming a manager. Additionally, most management-selection processes look

backward rather than forward: In a March 2023 Gartner survey of 98 HR leaders, 79% reported that consistently high individual performance is a top factor for management selection, while only 22% prioritize high scores on premanagement selection assessments. When a manager doesn’t actually want to be a manager, they lack authentic commitment to and engagement in the role. This can spell the difference between success and failure: Analysis from a May 2024 Gartner survey of 985 senior leaders and mid-level managers found that highly engaged managers are nearly four times more likely to be high enterprise contributors, more than

twice as likely to have high intent to stay, and three times more likely to exhibit high discretionary effort compared to their less-engaged counterparts. HR leaders know that their current approach isn’t working. In a July 2025 Gartner survey of 114 HR leaders, just 16% said their organization’s managerselection process ensures the right people work in people manager roles. To increase that number, HR leaders need to both prevent the installation of reluctant managers and mitigate the impact of those already in the role.

PREVENTING THE INSTALLATION OF RELUCTANT MANAGERS Recall the statistic that one in four managers would prefer not to be people managers. HR needs to identify that population before they’re selected for management roles so that management is an active choice, not a passive experience. One way to prevent reluctant managers is to show candidates the most challenging aspects of the management job before they enter it. This serves two purposes. First, it prepares new-to-role managers for the realities of the job, demystifying it and exposing the increased weight, complexity, and intensity of work. Second, it helps potential managers make an informed decision on whether to continue with the management-selection process. HR can create this exposure through simulations and experience with the more opaque and challenging activities of management, including workload prioritization decisions, difficult performance and engagement conversations, and performance calibration sessions. They can take this a step farther by matching interested candidates with relatively new managers for candid conversations and mentorship throughout the managerselection process—something that only 26% of managers reported experiencing before taking the role, according to a June 2025 Gartner survey of 3,002 employees. It’s also important that managerial candidates be provided with non-

punitive, non-permanent off-ramp opportunities during the selection process. This makes it possible for selfaware candidates to opt out of managerial roles and instead consider roles that are the right fit for their current aspirations, skills, and preferences with less pressure (real or perceived). This decreases the odds that those who end up in management roles will become reluctant managers.

MITIGATING THE EFFECTS OF INROLE RELUCTANT MANAGERS Not all forms of reluctance are equal. Once reluctant managers have been identified, HR leaders need to determine the nature of that reluctance. Is it entrenched or addressable? Can the manager’s mind be changed, or is a change of manager needed? Some forms of reluctance are more unyielding, while others can be dislodged through targeted behavioral exercises or interventions. Observing where and how suspected reluctant managers are struggling helps establish whether their reluctance is caused by deep-rooted factors, such as a true dislike of the role or disinterest in the necessary work, or more surmountable sources, such as a lack of confidence or a feeling of overwhelm in the role. HR and management-selection teams should probe into the root cause of reluctance to assess whether it’s entrenched or addressable.

ENTRENCHED RELUCTANCE When reluctance is deeply rooted, interventions are less likely to have the intended impact, and the focus should turn to the best ways to off-ramp reluctant managers. When possible, HR should connect managers who demonstrate entrenched reluctance to

HR LEADERS KNOW THAT THEIR CURRENT APPROACH ISN’T WORKING. IN A JULY 2025 GARTNER SURVEY OF 114 HR LEADERS, JUST 16% SAID THEIR ORGANIZATION’S MANAGERSELECTION PROCESS ENSURES THE RIGHT PEOPLE WORK IN PEOPLE MANAGER ROLES.

talent acquisition professionals with the goal of identifying internal roles that might be a better fit. If unsuccessful, it may be necessary to consider separating the employee.

ADDRESSABLE RELUCTANCE Two key, addressable sources of reluctance are a lack of confidence and feeling overwhelmed by the role. When a lack of confidence in the role is driving manager reluctance, leaders should identify management-adjacent skills that the reluctant manager uses in their personal lives that can be transferred to how they manage at work to build their confidence for the job. For example, lessons can be applied from volunteer activities that require collaborating with challenging personalities, or difficult conversations with an aging parent about caregiving assistance. To address the mental load of management, HR can teach habitbuilding practices that drive behavior change and decrease the cognitive load of management and perceived difficulty of tasks. Habit-building programs that rely on habit loops develop one habit at a time while requiring a limited time commitment, making them appealing to and achievable for overwhelmed managers. Habits that teach managers to use techniques like scheduled email blocks, the two-minute rule for completing quick tasks, or even turning off email notifications can decrease interruptions and make the job feel more manageable. As the habit becomes established, managers can develop natural cues that prompt them to perform the habit. As a task becomes a habit, it reduces the mental load of the task and can reduce feelings of overwhelm. We know that good managers make good teams. By proactively identifying and addressing the presence of reluctant managers, HR leaders have a pivotal opportunity to significantly improve leaders’ confidence in the management corps, as well as employee satisfaction and performance. (Colleen Adler for Harvard Business Review) SEASONAL MAGAZINE