NewsBytes

Market regulator Sebi has broadened the definition of "strategic investor" for REITs and InvITs, aimed at widening investor participation in their public issues. The expanded criteria will make it easier for these trusts to attract capital, support greater flexibility and improve the overall ease of doing business. The regulator believed that the current definition of strategic investor under the REIT (real estate investment trust) and InvIT (infrastructure investment trust) framework is narrow and excludes several large institutional investors, such as pension funds, provident funds, and insurance funds. These entities, though active participants in REITs and InvITs due to their preference for long-term and stable income-generating assets, were not eligible to be categorised as strategic investors before the amendments.

This includes a wider pool of institutions, such as public financial institutions, pension and provident funds, alternative investment funds, state industrial development corporations, family trusts and intermediaries registered with a net worth of more than Rs 500 crore; middle, upper and top-layer non-banking finance companies.

The amendment came after Sebi's board approved a proposal in this regard in September.

Prada, an Italian global luxury fashion house, has signed a memorandum of understanding with two government organisations -- LIDCOM and LIDKAR -- to source sandals, inspired by Kolhapuri Chappals.   The MoU was signed on Wednesday between Prada, LIDCOM (Sant Rohidas Leather Industries and Charmakar Development Corporation Ltd) and LIDKAR (Dr Babu Jagjivan Ram Leather Industries Development Corporation Ltd) at the Consulate General of Italy in Mumbai, according to a joint statement.

"The agreement sets out the framework, implementation and guidance of the 'PRADA Made in India x Inspired by Kolhapuri Chappals' project, which will celebrate Indian craftsmanship through a limited-edition collection of sandals," it said. Both LIDCOM and LIDKAR are dedicated to preserving and promoting the Indian leather industry and the heritage of Kolhapuri Chappals.

These will be manufactured in India in collaboration with skilled artisans from the Maharashtra and Karnataka regions, where the traditional Kolhapuri Chappals are handcrafted.

Traditional Kolhapuri Chappals, which have a unique Geographical Indication (GI) tag since 2019 - are manufactured across eight districts - four in Maharashtra (Kolhapur, Sangli, Satara, Solapur) and four in Karnataka (Belagavi, Bagalkot, Dharwad, Bijapur).

Earlier in June this year, the global fashion house faced criticism for leather sandals in its Spring/Summer 2026 collection, which closely resembled the traditional Indian Kolhapuri Chappal. It had sparked accusations of cultural appropriation and a violation of the Kolhapuri's GI tag, and the Maharashtra Chamber of Commerce, Industry and Agriculture had communicated this to Prada.

Through this initiative, Prada Group, in collaboration with LIDCOM and LIDKAR, will have locally training programmes aimed at helping artisans upscale their skills while preserving the traditional craftsmanship that inspired the project, following the model of the Prada Group Academy.