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Institute of Risk Management (IRM) India Regional Group and All India Council for Technical Education (AICTE) report uncovers gaps on Enterprise Risk Management (ERM) knowledge in the Indian higher education system

96% of the respondents considered risk literacy critical for both organisational and individual success 81% of the organisations do not think their students have high risk literacy IRM qualifications can play a critical role in building organisational risk management capabilities, as well as a robust enterprise risk education curriculum, for higher education institutions NEW DELHI, Nov. 22, 2021 /PRNewswire/ — Enterprise risk management intelligence is a critical requirement for both organisational and individual success. A key finding of a survey conducted by the IRM’s India Regional Group in collaboration with AICTE, found that education institutions in India still have a long way to go when it comes to delivering Enterprise Risk Management (ERM) education.  

The publication ‘Enterprise Risk Management and the Indian Higher Education System’ drew responses from over one thousand Indian institutions. This initiative is engaging with higher educational bodies to help them to improve risk management education, while focusing on embedding ERM education across the country.
The research was led by Dr. Shashank Shah, SAI Fellow’17, Harvard University, Board Research Chair, IRM India Affiliate; and Dr. Sapna Malya, Associate Professor – Finance, SPJIMR, Project Co-Chair, IRM India Affiliate. 
Nearly 96% of the responding institutions considered risk literacy as critical for both organisational and personal success. Yet, only 27% of institutions believe ERM courses should be offered at the undergraduate and postgraduate levels. Not surprisingly, only 19% of these institutes thought that their students had high risk literacy.
Given that 60% of the respondent institutions were affiliated with universities that exercised control over their course framework, there was a general consensus on the need for regulations that emphasise better risk education, for improving risk literacy among students. This was evident as 82% of the study participants believed that academic regulators mandating a formal ERM framework would help the teaching-learning process. The lack of risk preparedness extends to the institutional level, with only 37% employing a dedicated risk officer or faculty to advise the school’s leadership team on institutional risks.
Commenting on the survey, Hersh Shah, Chairman, IRM India Regional Group, said:
“Our survey reveals a worrying gap between the need for ERM and the risk literacy of India’s graduate and post-graduate students.
Global events leading to business collapse to risk related events demonstrate the consequences of ignoring organisational-wide risk management issues ranging from cyber-attacks – supply chain – reputational damage.
This lack of risk preparedness among India’s emerging workforce is a matter of grave concern. To build a robust and resilient economy, we must urgently address the gap in the system by strengthening the curriculum framework to promote ERM education across our higher educational institutions. In addition, there must be a sustained and systematic process to ensure the inclusion of new and emerging courses on the subject.”
Prof. Anil D Sahasrabudhe, Chairman, AICTE, added:
“Although the corporate world is now taking a proactive approach towards strengthening their risk management frameworks, academia is still, unfortunately, lagging behind. AICTE partnered with IRM with the view of raising awareness about risk management in our higher educational institutions.
The findings of the survey should motivate all the stakeholders, including academic institutions, students, instructors, the government, and organisations who depend on these schools for their workforce, towards greater introspection. We hope that this survey will help induce greater impetus towards strengthening risk management, both at the institutional level, and in building higher education curriculums across the country. With an increasing regulatory focus on risk management, there is a rising demand for qualified ERM and risk-intelligent professionals across every sector. Now, the onus lies with us, in academia, to ensure that our students are ready to take on the challenges of Industry 4.0.
We recognise IRM’s global leadership in ERM qualifications and examinations across 140+ countries and are confident of the support that they can provide to education institutions in creating qualified risk-ready professionals.”
Key findings:
45% of responding institutions do not have industry experts to deliver courses in the risk management subjects. Among the institutions that offered courses in risk management, 72% said that their full-time faculty was engaged in teaching these programs. Of these, 11% of the respondents said that their risk-teaching faculty held IRM qualifications.  
However, there is a severe paucity of academia-industry collaborations, with only 12% of the respondents being able to provide industry-linked risk management internships to their students. Not surprisingly, almost half the respondents believed that the current educational framework was insufficient to equip their students to meet the emerging demand for risk-intelligent professionals across different sectors.
Given the importance of risk management, 88% of the respondents expressed a willingness to work with professional bodies such as IRM to integrate ERM qualifications into the curriculum.
IRM’s qualifications can be key in developing both the organisational risk management and risk education in higher education institutions. At the organisational management level, IRM-qualified professionals have been appointed risk leaders or chief risk officers in colleges and universities.
In terms of faculty training, IRM Certified Members and Certified Fellows are employed full-time or part-time in ERM teaching roles in academic institutions, ensuring academic rigour in the delivery of ERM education. In terms of developing the curriculum, IRM can help in developing a clear study pathway that combines both the theory and practice of ERM. Institutional collaborations with IRM can open up career prospects through the latter’s robust industry network. IRM qualifications can be integrated with the ERM programmes of higher education institutions to help undergraduate and postgraduate students to build risk literacy, and facilitate practical exposure and industry recognition.
The report can be downloaded here https://www.theirmindia.org/thoughtleadership
Report contributors
Many senior industry and academic leaders shared their views on the current status of ERM education for the survey, including: Mr. Shailesh Haribhakti, Prof. Himanshu Rai, Director, IIM Indore; Mr. Santosh Kumar, Partner, Deloitte India; Dr. Pankaj Mittal, Secretary General, Association of Indian Universities; Mr. Nirav Doshi, Head – Enterprise Risk Management, National Payments Corporation of India (NPCI); Mr. Sivaram Subramoniam, Head – Internal Audit, Titan Company Limited; Mr. Vijay Chawla, Head – Risk Advisory, KPMG India; Mr. Mohan Tanskale, Former CMD, Central Bank of India and Former CEO, Indian Banks’ Association, Mr. Nandan Pendsey, Partner, AZB & Partners, Dr. Arnab Kumar Laha, Associate Professor, Indian Institute of Management, Ahmedabad; and Prof. Abhijit Chattoraj, Programme Chairperson, PGDM (Insurance Business Management), Birla Institute of Management Technology (Greater Noida), among others.
About Institute of Risk Management, India Affiliate:
IRM is the world’s leading professional body for enterprise risk management qualifications (Level 1 to 5) and training. IRM publishes research and guidance, and also professional standards across the world. Our members (including members of the Institute of Operational Risk) work in all industries, in all risk disciplines and across the public, private and not-for-profit sectors in more than 140 countries. With 360 exam centers in India, candidates can earn the IRM designations by pursuing the global examinations through IRM India Affiliate. IRM in India has been working with apex bodies and organisations like the AICTE, Invest India, Cipla, ICICI Lombard, Deloitte, JB Boda Group, NIMSME, Bombay Chartered Accountants’ Society including academic institutions like BIMTECH, National Insurance Academy, Jai Hind College, Hansraj College, EDII, DCBS and others.
Find us on social media:
LinkedIn: https://www.linkedin.com/company/irmindia Instagram: https://instagram.com/irmindia?utm_medium=copy_link  Twitter: https://twitter.com/irm_india?s=11 Facebook: https://www.facebook.com/irmindiaaffiliate/
About All India Council for Technical Education:
The AICTE is a statutory body, and a national-level council for technical education, under the Department of Higher Education. Established in November 1945 first as an advisory body and later on in 1987 given statutory status by an Act of Parliament,
AICTE is responsible for proper planning and coordinated development of the technical education and management education system in India. It is assisted by eleven Statutory Boards of Studies, namely, UG Studies in Engineering and Technology, PG and Research in Engineering and Technology, Management Studies, Vocational Education, Technical Education, Pharmaceutical Education, Architecture, Hotel Management, Catering Technology, Information Technology, Town and Country Planning and Applied Art, Craft and Design. AICTE has 8,957 approved education institutions with an intake capacity of 2,959,296 in all technical programmes.
Find us on social media:
LinkedIn: https://www.linkedin.com/company/aicteindia/ Instagram: https://instagram.com/aicte_official?utm_medium=copy_link Facebook: https://www.facebook.com/AICTE/ Twitter: https://twitter.com/aicte_india?s=11 YouTube: https://youtube.com/c/MediaAICTE
Photo: https://mma.prnewswire.com/media/1693755/IRM_and_AICTE.jpg

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Casio India launches music education CSR initiative in partnership with Manzil Mystics to empower young musicians and students from underserved communities

PATNA, India, March 19, 2026 /PRNewswire/ — Casio India Co. Pvt. Ltd., a subsidiary of Casio Computer Co., Japan, has announced the launch of a new Corporate Social Responsibility (CSR) initiative focused on music education and livelihood creation. In partnership with Delhi-based non-profit organisation Manzil Mystics, the initiative aims to promote skill-based musical training and create sustainable livelihood opportunities for children and musicians from underserved communities.

As a company deeply rooted in the music industry through its Electronic Musical Instruments portfolio, Casio India has consistently championed the role of music in education and creativity. Building on this legacy, the newly launched initiative seeks to integrate structured music learning into community spaces and schools while enabling aspiring musicians to develop professional skills in the performing arts and media ecosystem.Under this collaboration, the program will focus on providing structured musical training through Casio electronic keyboards, alongside curriculum-based modules designed to develop practical skills that can translate into future music education. The initiative will particularly target underprivileged students studying in government schools and young musicians from low-income communities, enabling them to access high-quality music education and professional development opportunities.Commenting on the initiative, Mr. Takuto Kimura, Managing Director, Casio India, said, “At Casio, we believe that music has the power to inspire creativity, build confidence, and transform lives. Through this CSR initiative, we aim to make music education more accessible to children and young artists from underserved communities. By partnering with Manzil Mystics, we hope to nurture musical talent while creating meaningful opportunities for individuals to build sustainable careers in the creative industry.”The event commenced with a welcome address for the Casio India leadership team and representatives from Manzil Mystics, followed by a felicitation ceremony recognising key contributors and educators associated with the initiative. The program highlighted the role of music as a powerful tool for learning and creative development among young students. As part of the event, Casio India also facilitated the students with instruments from its range of electronic musical keyboards, enabling them to begin their training and supporting the broader objective of promoting skill-based music education among children from underserved communities.Through this initiative, Casio India aims to equip young learners with vocational skills in music, encourage creative expression, and support aspiring artists in pursuing sustainable careers as educators, performers, and creative professionals. The program also seeks to foster an inclusive ecosystem that celebrates India’s diverse musical traditions while preparing artists for opportunities in the country’s rapidly expanding media and entertainment industry.About Casio India Co. Pvt. Ltd:Casio India Co. Pvt. Ltd. (CIC) is the Indian subsidiary of Casio Computer Co., Ltd., Tokyo, Japan, one of the world’s leading manufacturers of consumer electronics and business equipment solutions. Casio India has established a dynamic presence in the Indian market since 1996, emerging as a leading and cherished consumer goods manufacturer. Casio India’s range of products include sales and marketing of Timepieces, Electronic Musical Instruments, Desktop Calculators and Scientific Calculators.Setting the benchmark for excellence, Casio India is dedicated to embodying the spirit of innovation and quality that defines the Casio legacy. With a strong commitment to its corporate creed of ‘creativity and contribution,’ Casio has consistently translated this ethos into the creation of innovative products making a positive impact on society.For more information, visit https://www.casio.com/in/Photo: https://mma.prnewswire.com/media/2937791/CSR_Event_Casio_India.jpg 

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NYUCT Design Labs launches Edible Ventures™, a first-of-its-kind, full stack design and development cell for food & restaurant brands

MUMBAI, India, March 19, 2026 /PRNewswire/ — NYUCT Design Labs, India’s first Venture Design and Experience Innovation Collective, announced the launch of Edible Ventures™, a first-of-its-kind, full stack Design and Development Cell for culinary ventures, restaurants and premium experiences.

This turnkey development cell works as a strategic growth partner with hospitality chains, founders or chef-entrepreneurs, brands and institutions, to design, build, launch, and scale food ventures, restaurant brands & experiences through an integrated, end-to-end approach.With researchers, food scientists, product developers, menu engineers, architects & spatial designers, business designers, branding experts, experience designers, and a community of makers, Edible Ventures™ ensures that agile development of food ventures and brands is seen as a system design rather than as fragmented components. This ensures that the original ideas of founders and clients transform into profitable, desirable and scalable food businesses, without losing cultural depth, operational clarity, branding rigour or execution discipline.An industry-focused, specialized cell, Edible Ventures™ is helmed by a team that has deep, hands-on experience. It is designed to help food investors, entrepreneurs & hospitality businesses move from intent to last mile business execution with an integrated cell that leaves nothing off the menu when building a food venture or reimagining it.Edible Ventures™ is currently working with a spectrum of clients, including luxury hospitality chains, food entrepreneurs, and distillers, to develop unique experiences and brands. It is also engaged with a few state governments to help them in building capabilities in culinary tourism, revivalism of lost cuisines, and conceptualise unique visitor experiences around food, community & culture. Having venture designed for Himmaleh Distillery (Kumaon&I, Bandarful, Neoli, Darma), positioned and designed brands for luxury hospitality chains, incubated micro-ventures like Dongaon Local Ghee and currently incubating a social agro-led brand and venture at Ratnagiri with a community of 1000 women, the team considers food as not only a very valuable heritage of the country but also a means to unlock entrepreneurship.Addressing structural gaps in the system, Edible Ventures™ works as a strategic growth and design partner in a format where sourcing, menus, operations, spaces, brand, experience, and economics are designed together rather than assembled in fragments.”The business of food isn’t just about flavour or service. Edible Ventures is a unique, turnkey venture development cell to help food businesses and brands move from instinct-driven decisions to intentional, well-designed ventures and premium experiences. It’s about system design, and how original concepts & ideas can translate into high quality experiences and brands that drive growth and leverage our unique culinary heritage,” said Manojeet Bhujabal, Co-Founder and Managing Partner at NYUCT Design Labs.Edible Ventures™ works as a strategic development partner with the following areas of focus:Collaborates with large hospitality chains, real estate businesses to create and design new restaurant brands. innovations and experiences with an agile approach, supported by a maker community.Enables food entrepreneurs and chef-preneurs to build, brand and scale right with professional expertise in product development, design, branding, marketing, digital applications and agile innovations.Helps brands with market positioning & development, and creates innovations and experiences.Helps state governments and tourism departments to develop strategic capabilities, shape their culinary heritage, build local brands and design experiences for visitors.Unlike traditional consultants or creative houses, the work of Edible Ventures™ spans the full spectrum of a food venture – from product research, opportunity mapping and shaping concepts to aligning food-to-table realities, designing operations, branding and experience design, to building systems that can scale across formats, locations, or time.Dr. Samir Mulaokar, Patron Chef, Operations Lead and Partner at Edible Ventures™, added, “A well-designed food venture doesn’t just launch. It builds an ecosystem of desire, authenticity, consistency, and repeatability. What’s often missing in the food and hospitality industry is continuity between idea, execution, and scale. Edible Ventures bridges that gap by integrating creative thinking with operational excellence and brand focus.”With Edible Ventures, NYUCT Design Labs partners with founders and hospitality chains seeking to build new ventures and food experiences for longevity and scale. It is a specialized extension of NYUCT Design Labs’ Venture Design and Innovation practice, bringing the firm’s multidisciplinary, maker-led approach into the food and hospitality domain. NYUCT Design Labs has previously worked across ventures that intersected food, culture, experience design and brand development such as Outpost 12 in Kanha, Himmaleh Spirits and more. Its partners and leads have created luxury experiences and F&B brands that have wooed global audiences.Says Partner and Hospitality Lead, Shifaali Sinha, who has led large-scale growth mandates at Taj, Marriott, and amã Stays & Trails, “We partner with founders and institutions building future-ready food businesses, shaping premium brands that are commercially robust, strategically positioned, and designed for long-term relevance.”Food and dining are the new adventures, for both residents and travellers. The world over and including in India’s bustling metropolitan cities, a culinary revolution is unfolding with both large brands and startups reimagining the gastronomic landscape. From delectable snacks to artisanal beverages, and from hyperlocal restaurants to the revival of heritage cuisines, the entrepreneurial landscape is buzzing with ideas, local flavours and innovative experiences.India’s food services market estimated at $66 billion is estimated to reach anywhere between $110- $125 billion by 2030 (Source: ‘How India Eats’ by Kearney). The Online Food Delivery market in India was estimated to be US$43.78bn in 2024 and projected at US$91.88bn by 2029 with expected CAGR for 2024-2029 of 15.98%.Urban residents and food loving audiences with rising disposable incomes are looking at more premium food and dining experiences, rediscovering heritage cuisine and expecting more immersive restaurants. The addressable customer base is expected to grow to 43 crores from the current 34 crores. Such a large TAM, strong growth, surge in cloud kitchens and increasing penetration of distribution with players like delivery platforms (Zomato made 640 million deliveries across 800 cities in 2022-2023), makes this an extremely exciting investment space.Be it luxury restaurants, new hospitality formats, local food brands, menu innovations, digital transformation or exceptional curated experiences and pop ups, the action is intense and the seek for new adventures is real.Businesses or founders looking for the right strategic partner to design and develop their dream venture or brand can reach out to Edible Ventures™ at https://www.edibleventures.co/contact.html. For media inquiries, please contact wakeup@nyuct.com. For more information on Edible Ventures™ visit www.edibleventures.co.About NYUCT Design LabsNYUCT Design Labs is a full stack Design & Innovation firm, venture development studio and makers-community. For new ventures, experiences and futures.It helps businesses, institutions & founders, transform exponential ideas into launch-ready ventures, brands, products, experiences, and platforms. From blueprint to launch.Its work spans multiple sectors and industries including retail, luxury, finance, government, tourism, hospitality, real estate, travel and discovery, healthcare, lifestyle, and the impact sector.Helmed by multidisciplinary professionals with a collective industry experience of more than 188 years, lived between a world of business and creativity, it understands both scale and agility. Along with a diverse makers community, it stays mission-central about unlocking innovation for forward thinking organizations and founders, helping them move from concept to market with clarity and speed.Photo: https://mma.prnewswire.com/media/2937739/Edible_Ventures_NYUCT_Design_Labs.jpgLogo: https://mma.prnewswire.com/media/2937740/Edible_Ventures_Logo.jpg 

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Design POV Returns to Mumbai with its second edition ‘Sense and Sensibility’ – A Celebration of Immersive, Multi-Sensory Design

15 – 17 May 2026 | Jio World Convention Centre, MumbaiMUMBAI, India, March 16, 2026 /PRNewswire/ — Design POV returns to Mumbai from 15 to 17 May 2026 at the Jio World Convention Centre with its highly anticipated second edition, anchored in the theme ‘Sense and Sensibility’. Building on a successful debut in 2025 that welcomed over 7,000 visitors and featured more than 75 brands and 18 studios, the platform expands this year with deeper curation and a bold exploration of immersive, multi-sensory design.

Founded by Asif Sataar and Gagan Bhatia, Design POV was conceived as a curated environment that moves beyond the conventional exhibition format. While the show speaks through the medium of architecture, it champions all disciplines of design that contribute to a lived space, from interiors and material innovation to lighting, surfaces, furniture and spatial storytelling.”As an industry, we are often conditioned to prioritise what a space looks like because that is how most briefs are framed,” says Asif, Co-Founder, Design POV. “With Sense and Sensibility, we are consciously shifting the lens toward how a space is experienced. Texture, sound, atmosphere and emotion are not secondary layers, they are fundamental to how people connect with a space.”The 2026 edition examines what designing beyond sight truly means, inviting participants to engage all five senses and shape emotional connection within space. From tactility and acoustics to material experimentation and spatial storytelling, the focus shifts from how a space looks to how it feels. It invites brands, studios, artists and designers to present fully realised environments where these elements converge, encouraging deeper engagement beyond surface aesthetics.”From the outset, our intention was to create a setting where design is not simply displayed, but truly inhabited,” adds Gagan, Co-Founder, Design POV. “Each edition strengthens that ambition through sharper curation, stronger collaborations and immersive environments that allow people to connect meaningfully with design.”Positioned at the intersection of commerce and creativity, Design POV offers industry professionals and discerning audiences a space to engage directly with the evolving future of design.Highlights of Design POV 2026 include immersive brand pavilions, experiential installations, new product launches, and curated design studio showcases. Participating design studios include ADND Studio, Abin Design Studio, Alara Studio, Baldiwala Edge, DSP Design Associates, Design Hex, Jannat Vasi Interior Design, Sanjay Puri Architects, Shroffleon, Studio Archohm, and Talati & Partners LLP., among others, while exhibiting brands include Blanc White, Kuche 7, Neytt Homes, Sunroof, and Woven Legacy. Across furniture, lighting, surfaces and textiles, exhibitors will unveil new collections, experimental materials and limited-edition collaborations created exclusively for Design POV 2026.The second edition of Design POV 2026 will take place from 15 to 17 May 2026 at Jio World Convention Centre, Mumbai.For more information, visit www.designpovindia.com and follow @designpov.india on Instagram.About Design POV Design POV is an immersive design platform that celebrates unconventional perspectives and collaborative creation. Conceived as a space where architecture, art, and business intersect, Design POV reimagines how design is experienced moving beyond static showcases to fully realised, functional environments. Following a successful debut edition in 2025 at the Jio World Convention Centre, Mumbai, Design POV returns in May 2026 with an expanded vision and deeper interdisciplinary collaboration.At the heart of the platform is The ‘Core’, a curated collective of leading architecture and design studios invited to explore a central theme through unconstrained spatial expression. These studios collaborate with participating brands and build partners to create immersive installations that demonstrate design in context, not isolation.Design POV brings together architects, designers, brands, artists, and discerning audiences including homeowners, industry leaders, and the design curious. Through installations, panels, workshops, and live interactions, the platform fosters dialogue, collaboration, and innovation.Photo: https://mma.prnewswire.com/media/2934542/Design_POV_2026.jpg 

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