29, Jul 2024
Need for simplified regulations and enhanced logistics to boost MSME participation in global e-commerce: ISF
India, 29th July: E-commerce exports offer tremendous growth potential for Indian MSMEs, but currently see only 1% engaging in direct exports. To achieve the government’s ambitious target of $200-300 billion in e-commerce exports by FY 2030, it is essential to adopt more flexible policies and address existing challenges in customs, payments, and logistics. India SME Forum, the largest not-for-profit organization for MSMEs in India, hosted a ‘FireSide Chat’ titled “Plugging MSMEs in Global Markets: Harnessing the potential of B2C Exports” which explored the role played by e-commerce in enhancing the export potential of MSMEs and the imperatives for conducive regulatory policies.
E-commerce provides a unique opportunity for MSMEs, requiring minimal initial investment and enabling participation from diverse sellers across India. As awareness and interest grow, driven by ease of entry and global reach potential, businesses are increasingly embracing this avenue. To further accelerate growth, simplifying regulations is crucial. Experts commend the Central Government for promoting MSME e-commerce exports through new policies, including establishing e-commerce export hubs. These hubs, offering services like warehousing, packaging, and shipping, reduce operational costs and provide essential regulatory and compliance assistance, easing international trade navigation. However, despite these initiatives, challenges remain, particularly due to financial and regulatory barriers. High EDPMS closure charges can consume up to 50% of shipment value, making exports unviable for small parcels. The RBI’s 25% variation limit on payment reconciliation is often insufficient for transactions with high price variability. Increasing this limit to 50% and extending payment realization periods to 18 months would better support MSMEs and align with best global practices.
Additionally, customs reforms are essential to facilitate e-commerce exports. The primary policy proposal is to simplify and expedite the customs clearance process for certain low-risk shipments through pre-emptive assessments and automated procedures. This includes establishing separate customs supervision codes specifically for cross-border e-commerce trade to ensure faster clearance, streamline payment procedures, and enhance data collection for policy making.
Mr. Bipin Sapra, Partner, EY – “Indian MSMEs have tremendous potential to excel in global e-commerce markets, but they encounter several challenges, including high shipping costs, complicated customs procedures, and cumbersome returns management. To address these issues effectively, we must implement global best practices and establish dedicated export facilitation mechanisms. This includes adopting forward-deployed strategies to streamline returns, leveraging digital tagging for better tracking and management of shipments, and enhancing our overall logistical infrastructure. By tackling these challenges head-on, we can simplify the export process and significantly boost the ability of our MSMEs to compete and thrive on the international stage.”
Mr. Bhupen Wakankar, Director – Global Trade, Amazon, said, “E-commerce is unlocking vast global opportunities for Indian MSMEs to tap in large consumer demand across the world. This demand stretches across categories like Home & Kitchen, Apparels & Textiles, Consumable Products, Toys and many more categories. The application of technology in cross border logistics, payments as well as in areas like market access and market intelligence has been instrumental in helping Indian MSMEs expand their reach beyond domestic borders. The government’s proactive measures, including the recent announcement of Ecommerce Export Hubs and ongoing investments in digital infrastructure, are pivotal to this growth. These initiatives are set to provide essential support for businesses navigating international trade complexities. Continued support and simplification in areas such as customs compliance, cross-border payments, and logistics will further accelerate the growth of this sunrise sector.”
Mr. Vinod Kumar, President, India SME Forum, said, “In today’s interconnected world, the global marketplace offers unprecedented opportunities for Indian MSMEs to thrive. The path to successful international expansion lies in addressing key challenges like customs compliance, logistics, and cost management. By harnessing the power of digital tools to understand and meet customer preferences, and by advocating for policy reforms to ease export processes, we can empower our small and medium enterprises to compete and excel on the global stage. It is through such concerted efforts that we can transform the potential of Indian MSMEs into tangible success stories across borders.”
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- By Neel Achary
29, Jul 2024
5 Ways Universities Can Foster An Entrepreneurial Mindset In Students
In a rapidly developing country like India, entrepreneurship is a vital driver of economic growth and innovation. According to a report by the Global Entrepreneurship Monitor (GEM) India 2023-24, the entrepreneurial activity rate in India has been steadily increasing, with 15% of the adult population engaged in early-stage entrepreneurial activities. This indicates a growing interest in entrepreneurship among young people in India. This eventually brings us to the conclusion that universities play an extremely crucial role in shaping the entrepreneurial mindset of students, equipping them with the skills and knowledge that is necessary to thrive in a competitive market.
Educational institutions play a very important role in shaping the next generation of entrepreneurs. Hence, here are five ways in which universities in India can foster an entrepreneurial mindset in their students:
Make Entrepreneurship A Part Of The Curriculum
One of the most effective ways to cultivate an entrepreneurial mindset is by integrating entrepreneurship into the university curriculum. This can be done through dedicated entrepreneurship courses, modules, or even degree programs that cover various aspects of starting and running a business, such as ideation, business planning, marketing, finance, and legal issues. This not only provides students with foundational knowledge and skills in entrepreneurship but also encourages them to think critically and creatively about solving real-world problems and prepares them for the challenges of starting and running a business.
Start Incubation Centers and Accelerators
Universities should establish incubation centers and accelerators to support students in transforming their ideas into viable businesses. These centers can provide resources such as office space, funding, mentorship, and access to networks of investors and industry experts. These kind of centers provide a supportive environment for students to develop and test their ideas and offer access to essential resources and mentorship from experienced entrepreneurs. Students can actually navigate the early stages of starting a business through the help of such establishments. For example, the Indian Institute of Technology Madras (IIT Madras) has set up the IIT Madras Incubation Cell (IITMIC), which is recognized as one of the top deep-tech start-up hubs in India that supports start-ups through seed funding, mentoring, and infrastructure. As of 2023, IITMIC has incubated over 200 start-ups, and is targeting to incubate at least 100 start-ups across various sectors next year in 2024.
Promote Collaboration Between The Academia & Industry
Collaboration between academia and industry is crucial for developing an entrepreneurial mindset among students. Universities need to encourage partnerships with industries to provide students with real-world experience, internships and opportunities to work on live projects. This exposure helps students understand market needs and challenges, making them better equipped to develop innovative solutions. It not only provides students with practical and hands-on experience in real-world settings but also bridges the gap between academic knowledge and industry requirements.
Organize Competitions & Hackathons
Competitions and hackathons are excellent platforms for students to showcase their innovative ideas and entrepreneurial skills. These events encourage creative thinking, problem-solving, and teamwork. They also provide students with the opportunity to receive feedback from experts and gain recognition for their efforts. Since 2005, the National Institute of Technology Trichy (NIT Trichy) has been hosting the ‘Pragyan Innovation Summit’, an annual event that includes hackathons, pitch competitions, and workshops. This summit attracts participants from across the country, providing students with a platform to present their ideas and compete for funding and support.
Encourage A Culture Of Entrepreneurship
Creating a culture of entrepreneurship within the university is essential for encouraging students to pursue their entrepreneurial ambitions. This can be achieved by organizing events such as guest lectures, panel discussions, and networking sessions with successful entrepreneurs and alumni. Universities should also celebrate entrepreneurial successes and provide recognition and incentives for innovative ideas. It inspires students by exposing them to successful entrepreneurs and their journeys as well as helps build a supportive community of like-minded individuals. The Indian School of Business (ISB), for example, organizes the ‘ISB Leadership Summit’ every year which personifies ISB’s vision of leadership, excellence, and diversity. They host a plethora of stalwarts who are exemplary leaders in their respective fields to add valuable insights into the holistic education ecosystem that ISB has successfully built over the years.
Additionally, Indian government’s initiatives like ‘Start-up India’ and ‘Atmanirbhar Bharat’ also aim to create a conducive environment for start-ups and entrepreneurship. These initiatives offer various benefits, including tax exemptions, funding opportunities and ease of doing business, which educational institutions can leverage to provide additional support and resources to student entrepreneurs. With the right support and encouragement, students can develop the skills and confidence needed to turn their innovative ideas into successful ventures, contributing to the global economy and addressing societal challenges. Institutions like BMU University are at the forefront of this movement, providing a nurturing environment that encourages innovation and entrepreneurial thinking among students. By fostering such mindsets, universities play a crucial role in shaping the future leaders and innovators of tomorrow.
29, Jul 2024
How AI can save business owners up to £3900 and ease workload
As of July 2024, only 29% of startups / small businesses worldwide have adopted AI in their operations, citing lack of expertise as their main reason for not doing so.
Christoph C. Cemper, an AI expert on behalf of AIPRM, provided his insight on how artificial intelligence can easily act as a crucial tool for entrepreneurs, easing the burden on small business owners, in honour of Stress Awareness Month.
Ease the load: Five ways AI can assist your startup or small business
Harnessing AI effectively can significantly alleviate stress for business owners, with a recent AIPRM survey revealing that one in eight businesses have saved between £780 and £3900 by replacing simple tasks with AI.
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Marketing
Marketing is a crucial element for any startup or small business, not just for building brand awareness, credibility and trust, but also for positive customer retention and long term-growth.
Using AI in your marketing strategy doesn’t have to be overly complex, and it’s usually very accessible – with free to use tools such as Chat GPT. With over three in five (61%) of marketers now using AI to save time and resources, it’s clear to see how AI can work as a trusty sidekick to assist your natural workflow of content creation, analysing performance and predicting improvements for better engagement.
In fact, a global study by Statista reported that 47% of marketers trust the use of AI for generating target ads, 42% use the tool for personalising content, 33% for optimising subject email lines and 32% for conducting live chat sessions with customers.
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Understand consumer behaviour
If you’re just starting out your business, you’ll want to understand your consumer pretty quickly. You can even use AI to develop a personalised customer avatar to target potential customers through AI-based ad tools, such as social media or Google Ads.
Although AI can assist with data-driven approaches, there still needs to be oversight from human beings, and the people maintaining these datasets have to be diverse so that the data sets are also diverse enough to reach a wider audience whilst still targeting your ideal customer.
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Competitor analysis
AI can assist in analysing not only your own customer behaviour, but competitor trends, which can be used to adapt your own strategies accordingly. You can use AI to gain large amounts of data at the drop of a hat, and use this as a benchmark for your own strategies, and analyse how you measure against the competition.
To do this is actually relatively easy. You can use quick analytic tools such as Hootsuite or Brandwatch to generate reports on your competitors’ social media, engagement and growth, as well as their websites and any industry news sites to identify emerging patterns and trends. This can help you identify any gaps in the market, and leverage any customer feedback and satisfaction.
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Product development
If you have a startup or small business, you also have a product it revolves around. Using AI for improving product design, development processes, prototyping and testing lands you with a good chance of a product that’s likely to perform.
You can leverage AI from day one by using market intelligence tools to analyse how similar products are performing on the market, and use this to one up your competitors. Easy to use, free tools such as Figma can also assist prototyping, which instantly converts concepts into visual product prototypes.
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Security
Reports show that small businesses and startups are THREE TIMES more likely to be targeted by cyber crime than larger companies, with threats including phishing, malware attacks, social engineering, data theft, and insider threats. 60% of SMEs that suffer cyber attacks also go out of business within six months.
Despite this,security within startups and small businesses are often overlooked. Recent reports found that 51% of small businesses don’t utilise any IT security measures – with 36% of small businesses having no concern whatsoever about cyberattacks.
So how can AI help? AI can analyse vast amounts of data in real time to identify any suspicious patterns or anomalies associated with cyber security threats, and block any attempts to cause harm. AI can also scan your systems for any vulnerabilities and manage this accordingly. You can even utilise AI platforms for training up employees on best practices, and reducing human error that can lead to vulnerabilities in security.
29, Jul 2024
TBO.com Appoints Mr. Gerardo Del Río as President of its International Business to Drive Global Growth
India, July 29, 2024: TBO.com, a leading global travel distribution platform, is pleased to announce the appointment of Mr. Gerardo Del Río as President of its international business to drive global growth and take the company to the next phase of its evolution.
With over 20 years of experience across hospitality, travel and consulting sectors, Gerardo brings a wealth of global management, finance, and business development expertise to the role. Gerardo’s career, spanning the Americas, Europe, and Asia Pacific, has equipped him with invaluable multi-cultural insights and a deep understanding of diverse global markets. In his illustrious career of over 2 decades, Gerardo has worked with some of the marquee companies including Melia Hotels, Hotelbeds (now HBX) and DidaTravel serving in various capacities and geographies.
On the new appointment, Mr. Gaurav Bhatnagar, Joint Managing Director and co-founder, TBO, stated, “We are delighted to welcome Mr. Gerardo Del Río to our leadership team. His extensive multi-market, multi-cultural experience and proven track record in the global travel and hospitality industry perfectly aligns with our vision for international expansion. Gerardo’s strategic leadership, client-centric approach, and focus on delivering results will strengthen our position as a leader in the global travel and tourism industry.”
On his new role, Mr. Gerardo Del Río stated, “I am honoured to join TBO at this exciting juncture. The company’s proven expertise in simplifying the travel business for both suppliers and buyers provides an excellent platform for growth. I look forward to leveraging my experience to foster innovation, build strategic partnerships, and drive the company’s expansion in the global market. I am particularly excited about spearheading TBO’s international growth initiatives, tapping into new markets, and enhancing our global footprint.”
Gerardo will lead the company’s global expansion efforts, ensuring a smooth transition as TBO enters new markets. He will focus on strengthening the company’s presence in existing markets while strategically entering new ones. His approach will centre on tailoring TBO’s cutting-edge travel technology solutions to meet diverse regional demands, cultivating cross-cultural partnerships, and driving sustainable growth across the global travel landscape.
29, Jul 2024
Top Budget-Friendly Cities for Wedding in 2024: Ranked
This study by JJ’s House analyzed various expenses listed on the Wedding Report website associated with weddings across multiple US cities. Key cost factors included renting a wedding venue, attire and accessories, catering services, hiring a wedding planner, photography and videography, invitations, music and entertainment, floral and decorations, and wedding cakes and desserts. The total costs were aggregated to rank the most affordable wedding destinations in the US.
| US Cities | Average cost for renting a wedding venue | Attire and Accessories | Average cost for catering services | Average cost for hiring a wedding planner | Photography and Videography Costs | Invitations | Music and Entertainment Costs | Floral and Decoration Costs | Wedding Cake and Dessert Costs | Total Costs |
| Kansas City, Missouri | $4,897 | $2,657 | $3,018 | $690 | $2,133 | $226 | $810 | $1,546 | $227 | $16,204 |
| Weatherford, Texas | $5,601 | $1,146 | $3,025 | $1,129 | $2,474 | $215 | $1,156 | $2,157 | $262 | $17,165 |
| Myrtle Beach, South Carolina | $5,450 | $320 | $5,596 | $1,421 | $1,741 | $305 | $1,876 | $2,079 | $426 | $19,214 |
| Boise, Idaho | $5,152 | $2,574 | $6,075 | $974 | $2,059 | $387 | $966 | $804 | $333 | $19,324 |
| Tulsa, Oklahoma | $6,654 | $1,939 | $5,181 | $785 | $1,829 | $622 | $766 | $2,065 | $461 | $20,302 |
| Little Rock, Arkansas | $6,626 | $1,660 | $5,911 | $1,225 | $2,308 | $405 | $1,304 | $2,464 | $548 | $22,451 |
| Yorktown, Virginia | $7,737 | $2,943 | $3,906 | $1,060 | $2,532 | $350 | $1,492 | $2,382 | $421 | $22,823 |
| Pittsburgh, Pennsylvania | $8,438 | $1,969 | $5,998 | $1,055 | $2,144 | $600 | $2,317 | $2,091 | $512 | $25,124 |
| Tampa, Florida | $9,090 | $1,516 | $8,063 | $884 | $1,734 | $1,353 | $1,161 | $2,868 | $633 | $27,302 |
| San Antonio, Texas | $12,692 | $1,448 | $1,144 | $1,241 | $2,976 | $2,235 | $4,637 | $2,360 | $293 | $29,026 |
Kansas City, Missouri tops the list with a total cost of $16,204. Key factors contributing to its affordability include low costs for venue rental at $4,897, attire and accessories at $2,657, and music and entertainment at $810. The relatively low expenses in these categories make it a top choice for budget-friendly weddings.
Weatherford, Texas ranks second with a total cost of $17,165. This city is particularly notable for its low costs of attire and accessories at $1,146 and invitations at $215. Although catering costs in Weatherford are slightly higher, its overall affordability is evident.
Myrtle Beach, South Carolina stands third with a total cost of $19,214. The standout factor is its exceptionally low catering costs at $5,596, combined with affordable venue rental at $5,450 and photography and videography at $1,741. This city offers the most affordable cost for attire and accessories totaling $320.
Boise, Idaho ranks fourth with a total cost of $19,324. Key factors include moderate expenses in catering services at $6,075 and lowest floral and decoration costs at $804, balanced by lower costs in other categories like attire and accessories at $2,574.
Tulsa, Oklahoma stands fifth with a total cost of $20,302 for a wedding with 150-200 guests. This city offers affordable wedding options with moderate costs in venue rental at $6,654 and attire and accessories at $1,939. The city offers the most cost-effective music and entertainment service at $766.
Little Rock, Arkansas ranks sixth with a total cost of $22,451. Highlighted by reasonable costs in catering services at $5,911 and wedding planning at $1,225, this city provides a balanced budget for various wedding expenses.
Yorktown, Virginia ranks seventh with a total cost of $22,823. Noteworthy for its affordable venue rental at $7,737 and moderate costs in floral and decoration at $2,382, Yorktown remains a cost-effective choice for weddings.
Pittsburgh, Pennsylvania stands eighth with a total cost of $25,124 with 150-200 invitees. Significant factors include low costs in attire and accessories at $1,969 and music and entertainment at $2,317, making it an affordable option despite higher venue rental expenses.
Tampa, Florida ranks ninth with a total cost of $27,302. Tampa’s affordability is highlighted by moderate costs in attire and accessories at $1,516 and music and entertainment at $1,161, offsetting higher catering expenses.
San Antonio, Texas rounds out the top ten with a total cost of $29,026. The city features affordable venue rental at $12,692 and catering services at $1,144, balanced by higher expenses in music and entertainment at $4,637.
A spokesperson from JJ’s House commented on the study: “A wedding is one of the most memorable events in a person’s life, and it’s heartening to see that beautiful celebrations can be affordable. Kansas City, Missouri, stands out as the most budget-friendly city and is truly exceptional. Couples can enjoy a charming wedding without breaking the bank, thanks to its low costs for venues and entertainment. Weatherford, Texas, with its remarkably low attire and accessories costs, also provides a fantastic option for couples looking to save while still having their dream wedding.”
29, Jul 2024
Piwik PRO introduces real-time dashboards for instant analytics
Digital analytics and data activation vendor Piwik PRO has announced the release of its new real-time dashboards feature, which is now an integral part of the Piwik PRO Analytics Suite platform. Dashboards empower users to act on data by providing insights into their operations, performance, and progress on key metrics via visualizations delivered within seconds. It’s particularly beneficial for marketing departments in industries where timely decision-making is critical, such as publishing, ecommerce, event-related businesses, healthcare, and finance.
In a Harvard Business Review survey, 76% of organizations admit that real-time data analytics is crucial for business performance. Instant analytics provides critical information on how viewers are interacting with content here and now. This allows businesses to monitor trends and quickly adjust to improve content performance. The numbers confirm this approach. By 2030, the real-time analytics market is anticipated to grow to $141.46 billion from its 2023 level of $28 billion, according to Verified Market Reports.
The dynamic growth in demand for real-time analytics has inspired Piwik PRO to expand the functionality of its analytics platform to include real-time dashboards, offering customers a complete set of features for data analysis and activation. What distinguishes the solution developed by Piwik PRO is its 10-second data freshness, positioning it as one of the most powerful real-time reporting features available.
Key benefits of Piwik PRO’s real-time dashboards
Instant insights: Real-time dashboards offer instantaneous data visualization, ensuring businesses can quickly react to user behavior and trends as they emerge. The data is updated every 10 seconds, with a viewing window ranging from 5 to 60 minutes.
Full customization: Real-time dashboards set Piwik PRO apart with exceptional customization options, enabling users to personalize the dashboards to suit their specific needs. Users can have multiple dashboards and arrange them according to their preferences by using custom widgets.
Wide accessibility: The feature is already available to the company’s 600+ Enterprise customers and 12,000+ users of the free Core version, as well as to every new user regardless of plan.
Feel the freedom of dashboards
Real-time dashboards deliver immediate insight into customer behavior and enable rapid campaign adjustments. This means that marketers can quickly and effectively enhance engagement, optimize content strategies, and improve ROI. Additionally, real-time data helps reduce costs by allowing timely adjustments and improvements, whether by analyzing cost-per-click (CPC) in advertising campaigns, engagement rates on social media, or conversion rates on your website.
Our new feature allows for unrestricted comparison and visualization of diverse data sets. It enables a quick understanding of how consumers react both in daily business and during special events like Black Friday. Understanding how customers interact with your content and product on different platforms, channels, and devices is crucial for improving visitor engagement and maximizing revenue opportunities at every touchpoint, Piotr Korzeniowski, CEO of Piwik PRO.
The feature, currently in beta version, is available to all Piwik PRO Core and Enterprise users. To create your free Piwik PRO Core account or get a custom demo, visit piwik.pro.
29, Jul 2024
Storyblok’s CMS helps Octopus Energy use content to power the future of green energy
Octopus Energy is now able to deploy website updates in five minutes, and has seen a two-thirds decrease in requests for support from developers
New York, NY – Storyblok, the modern content management system (CMS) for all teams, today announced that Octopus Energy is using its CMS to manage content more efficiently and decrease dependence on developers.
Octopus Energy is a global clean energy tech business, driving the affordable, green energy system of the future. Their previous CMS required significant developer involvement for every content task and was very limited in its flexibility and customization options. This led to a fragmented content management setup that was slow and prevented collaboration.
Knowing that this wasn’t sustainable for their dynamic content needs, Octopus Energy made the switch to Storyblok. Now they use Storyblok to centralize content management and integrate all of their platforms through APIs, give content creators the components they need to create experiences without the help of developers, and closely manage user roles to improve collaboration.
Storyblok is used by 19 teams across 6 business functions in 8 countries. With that combined teamwork, Octopus Energy is able to create a website from scratch within 2 weeks and deploy updates in 5 minutes. The typical creation and publishing time has been cut by 1-2 days, with smaller projects getting delivered on the same day. This smooth process led to a two-thirds decrease in requests for support from developers.
Aaron Cawte, Senior Front-end Developer at Octopus Energy, said: “Storyblok’s Visual Editor empowers our content editors to click on the content they want to change and see the results in real-time. This enabled us to roll out Storyblok at speed with zero training, and our teams around the world have taken to it like ducks to water.”
Based on this success, Octopus Energy plans to continue using Storyblok for various projects, including the migration of over 1,000 pages from a legacy CMS, and the expansion of their mobile app content.
Dominik Angerer, CEO and Co-Founder of Storyblok, said: “Octopus Energy views energy in the same way we view content: it should be efficient and nothing should be wasted. By centralizing content with Storyblok, Octopus Energy is experiencing the benefits of reusable content across all of their platforms.”
27, Jul 2024
YFLO and Ministry of Mind, Body, and Soul Commemorate 25th Kargil Vijay Diwas
Young FICCI Ladies Organisation (YFLO) and Ministry of Mind, Body, and Soul Honour the Valour and Sacrifice of Indian Air Force Heroes to Commemorate the 25th Kargil Vijay Diwas
New Delhi, July 27, 2024: In a heartfelt event organized by the Young Ficci Ladies Organisation (YFLO) Chairperson, Dr. Payal Kanodia & Ministry of Mind, Body, and Soul, the valour and sacrifice of our Indian Air Force heroes were celebrated to commemorate the 25th Kargil Vijay Diwas. The stellar event held at TER Hall, The Lodhi Hotel, New Delhi and chaired by Dr. Tania Nijhawan, featured inspiring conversations with two distinguished speakers who partook in Kargil War: Archana Kapoor (Retd. Sqn Ldr) and Air Veteran Group Captain Nitin Welde.
The event commenced with a welcome note by Pankhuri Mukim Nandy, who extended a warm welcome to all the esteemed guests and members of YFLO. She highlighted the significance of Kargil Vijay Diwas as a celebration of the indomitable spirit of the Indian Air Force, which played a pivotal role in securing India’s victory in the Kargil War.
Dr. Payal Kanodia, Chairperson of YFLO Delhi and the Ministry of Mind, Body, and Soul, expressed her profound respect and admiration for the heroes of the Indian Air Force in her opening remarks, “As we commemorate Kargil Diwas today, we are reminded of the immense bravery and sacrifice of our armed forces. Honouring the stories of Sqn Ldr Archana Kapoor and Group Captain Nitin Welde reaffirms our commitment to the extraordinary courage and dedication that define our warriors. It is my personal conviction that our security forces and border areas deserve unwavering respect, support, and active participation from each of us. Their valour inspires us to uphold the values of courage, honour, and selflessness.”
Archana Kapoor (Retd. Sqn Ldr) shared a precious takeaway token with the young ladies of YFLO: her personal power mantra, “Just Ask, And in All Probability, You Will Get What You Want”. As one of the first women pilots in the Indian Air Force, she recounted her inspiring journey and experiences during the Kargil War. Her story of perseverance and breaking barriers served as a profound source of inspiration to all present.
Air Veteran Group Captain Nitin Welde, a gallantry award recipient with over 5,000 hours of flying experience, also shared his remarkable experiences. He recounted his operations during the Kargil conflict and his unwavering commitment to duty, which has extended beyond his years of service. His dedication to youth development and nation-building was evident in his passionate address, leaving a lasting impression on the audience.
The event concluded with a special vote of thanks to Archana Kapoor (Retd. Sqn Ldr) and Air Veteran Group Captain Nitin Welde & Group Captain Sumit Malhotra followed by a session of networking and hi-tea, allowing attendees to engage with the esteemed speakers and fellow guests. The YFLO and the Ministry of Mind, Body, and Soul reaffirmed their commitment towards supporting the veterans and their families, ensuring they receive the respect, care, and recognition they deserve. The commemoration of Kargil Vijay Diwas was not just a remembrance but a celebration of the extraordinary feats of India’s brave men and women in uniform.
27, Jul 2024
A full-day HR Conclave with the theme ‘Work, Employment and Industrial Relations’ held at FTCCI
Hyderabad, July 27, 2024: The HR Committee of the Federation of Telangana Chambers of Commerce and Industry (FTCCI), the 107-year-old Trade and Commerce body on Saturday organised a full-day HR Conclave at Federation House in Red Hills in the city.
The conference with the theme ‘Work, Employment and Industrial Relations’ was inaugurated by the Chief Guest Sri Chandrasekharam, Joint Commissioner of Labour, Govt. of Telangana and Guest of Honour Rajesh Khosla, CEO, AGI, Greenpac.
Addressing the 100-plus gathering, Sri Chandrasekharam, Joint Commissioner of Labour, Govt. of Telangana said things are changing, technology is changing, so also the HR Laws to keep pace with the developments.
The labour departments across the country are gearing up for the implementation of new Labour Codes in India. The four new labour codes proposed are the Code on Social Security 2020, Occupational Safety, Health and Working Conditions Code 2020, Industrial Relations Code 2020, and Code on Wages 2019. These were proposed with a motto of ease of doing business. The union government consolidated 29 central labour laws (out of 44 existing central laws) into four labour codes, he said.
The Government has to be the facilitator. We need to ensure a conducive environment. When foreign companies come to invest here, they should not get culture shock. We need to create a friendly environment, he said. The way forward to the future is maximum governance and minimum Government.
While delivering the keynote address, the guest of honour Rajesh Khosla said India is the youngest nation in the world. The mean age of India is 28 years, China 38, USA 40, Europe 45 and Japan 50. This means 70 to 80 crore population of the 140-crore population of our country is in the pipeline of employment. It is a big challenge for HR (Human Resources) to engage these youth.
The global economy is 93 trillion US $. China’s economy is 18 trillion, which constitutes 20 to 22% of the global economy. All the countries across the globe are eyeing to buy products from India as a manufacturing base is shifting to India. Is India prepared in terms of offering the quality of products, and good behaviour? We are buying the best of the best machines and processes. But where are the people to run them? he asked.
India is experiencing a very peculiar situation. On the one hand, we have a lot of unemployed people. Our youth is jobless. On the other hand, companies are crying for employees. The problem lies in the skill gap. It is the job of the HR professionals to train the unemployed youth and make them job-ready, he said.
Another big challenge which will loom large soon Rajesh Khosla said is the dependence of the workforce/labour from UP and Bihar. In the recent union budget, a lot of sops were announced for Bihar. If Bihar grows industrially because of these sops, it will generate employment for local people. And the labourers who were coming to Telangana to work will find employment in their state. This will result in a shortage of the labour force and poses a major challenge for the HR Fraternity.
Speaking of HR challenges, Rajesh Khosla said that manufacturing is shifting to India. HR needs to prepare the workforce for the same as well. The Western population is getting old and Indians are young. The Indian young population has a Western outlook. We must make employment interesting and attractive to them. Otherwise, the cream of the talent will go to the west for greener pastures.
China, after losing many companies’ manufacturing bases, is pumping a lot of money into India to create industrial unrest. It may be a politically sensitive matter, but it is the ground reality…
The African continent can throw a big challenge to India in future. It is a younger continent than India and more laborious than us. They are rich in minerals. The only drawback they have is the ecosystem. This can pose the biggest threat to the Indian economy.
The resources required in a business constitute 4 Ms: – Manpower, Money, Material and Method. Managing these 4 Ms efficiently can give you a competitive advantage. And they are under your fold, Rajesh Khosla told the HR Professionals.
Meela Sanjay, Chairperson of the HR committee of FTCCI in his introductory address said the labour codes have received the approval of both houses of the parliament as well as Hon. President’s assent. The final notification of making these codes effective is something which has been on the anvil for some time now. Now that the elections are over and the new government is in place, the implementation of the labour codes may take centre very soon.
Countries across the globe are competing to get investments, vying with each other to make doing business simpler and easier for investors by way of removing the stringent restrictions on businesses. Employees play a key role in this area.
The full-day conclave had technical sessions such as Industrial Relations Code and Occupational Safety, Health and Working Conditions Code by Sri Niranjan Rao; Salient features of EPF Act by Sri J. Srinivas, Asst P.F Commissioner; Code on Wages and Code on Social Security by Sri S.V. Ramachandra Rao, Managing Director, HR Chambers; Highlights of New Indian Criminal Laws 2024 by G.V. Subramanyam, Hon’ble Chairman (Retd.), Industrial Tribunal 1, Hyderabad and HR Technology – AI Impact and HR Analytics by Sri K.J.A. Swarup, General Manager, HR (retd), ITC Ltd.
Ravi Kumar, Senior Vice President while proposing a vote of thanks said that HR must be the first department in any business set-up and should be accorded due credit because it manages people. It is the people who make or mar any organization, he added.
27, Jul 2024
Knowledge Chamber of Commerce & Industry with support of Ministry Of MSME hosts MSME CONVENTION 2024 in Ahmedabad
Knowledge Chamber of Commerce & Industry with the support of the Ministry Of MSME, has organized MSME CONVENTION 2024 celebrating its 6th Annual Foundation Day in Ahmedabad.
Various government dignitaries from the MSME Department, Mr. TK Solanki Asst Director MSME DI, GovtOf India, SDBI, SBI, and others along with KCCI Chairman Mr. Durgesh Agarwal, KCCI Hon Secretary General Mr Bharat Patel were present during the convention. In this convention there were International Delegates like Mr. Alexandar Evtuk from Russia CSCP, Mr. Mehul Raval, Russia CSCP; Mr. Steve Hickling, British Deputy High Commission; Mr. Evizal Abdul Kadir UIR, Indonesia; and Mr. Kyu Nam Kim, KOTRA South Korea.
In this convention, KCCI has signed an agreement to take Indian Delegation to Russia between the 20th to 25th October 2024 and exchange dialect and business opportunities for Indian Business with Russia.
The MSME CONVENTION 2024 had 500 plus participants and 25+ Exhibitors were present in the convention. In the evening there was a themed fashion Show on sustainable fashion. Bollywood legendary actress Ms Bhagyashree Dasani was invited to felicitate awards and grace the evening while sustainable clothing was being showcased by gorgeous models and students from Anant National University. More than 30 awards were presented to recognize businesses for doing phenomenal work in their respective sectors.
