Author: Rabindra

Design Meets Innovation & Purpose: WUD’s Fresher Induction Program is a Game Changer

MUMBAI/DELHI-NCR / August 10, 2024: The World University of Design (WUD) redefined the concept of student orientation with its groundbreaking “Immersive Inception” program, held from August 2 to August 9, 2024, at its Sonipat campus. This innovative initiative goes beyond traditional academic introductions, offering a holistic approach to university life that not only aligns with UGC mandates but sets a new benchmark for student induction in India.

The week-long program welcomed students for seven diverse schools: Architecture, Performing Arts, Visual Arts, Fashion, Design, Communication, and Business. Uniquely structured, “Immersive Inception” blended critical themes such as environmental sustainability, health and fitness, Indian knowledge systems, and universal human values with cutting-edge technology advancements.

Dr. Sanjay Gupta, Vice Chancellor of WUD, emphasized the program’s significance: “At World University of Design, we are committed to providing our students with a holistic education that empowers them to thrive in a globalized world. Our Immersive Inception program exemplifies this commitment by offering a comprehensive introduction to university life that extends beyond academics. By incorporating expert talks, workshops, and cultural activities, we aim to foster well-rounded individuals prepared to make a positive impact on society.”

The orientation featured an impressive lineup of industry leaders and creative pioneers. Dadi Pudumjee, founder of the Ishara Puppet Theatre Trust, delivered a captivating session titled “The Voice of Dreams,” exploring India’s rich puppetry traditions. Pudumjee remarked, “Just as each state’s puppetry tradition is distinct, every student’s journey through college will offer unique insights and experiences, enriching their personal and artistic development.” His insights provided students with a deeper appreciation of cultural and artistic traditions, emphasizing the collaborative nature of art.

Shivani Mehta, co-founder of Daakroom and a Shark Tank success story, inspired students with her entrepreneurial journey. She shared her experience of transforming a college stall into a successful enterprise focused on reviving handwritten communication. Mehta’s talk highlighted the importance of combining design thinking with entrepreneurship and encouraged students to pursue innovative and effective communication strategies.

Other notable speakers included Amit Kumar, a caricature expert and art practitioner; Rashmi Khanna, a Bharatnatyam performer and guru; and Akash Upadhyay, a photographer and architect. Their diverse expertise provided students with a multifaceted view of creative industries and career possibilities.

WUD’s innovative approach extended to hands-on workshops covering craft, performing arts, mental well-being, design thinking, and ethical practices. These sessions were designed to foster active learning and skill development, preparing students for the challenges of their chosen fields.

The program also facilitated peer bonding and cultural assimilation through student council-organized events and club activities. Open stage performances and introductions to clubs focusing on fashion, music, dance, and drama allowed students to explore their interests beyond academics. Sports trials and workshops on mental well-being highlighted WUD’s commitment to holistic student development, aligning with UGC guidelines for a well-rounded education.“Immersive Inception” concluded with in-depth sessions tailored to each academic school, providing students with a comprehensive understanding of their chosen fields.

By seamlessly integrating academic insights, cultural exploration, and practical skill development, WUD’s Immersive Inception program has redefined the concept of student orientation. It not only fulfills UGC requirements but also sets a new standard for holistic education in India, preparing students to become innovative leaders and global citizens. As the education landscape continues to evolve, WUD’s “Immersive Inception” stands as a testament to the power of reimagining traditional academic practices to meet the needs of today’s students and tomorrow’s industries.

WB Dept of Food Processing & ICC Launch ‘Bengal Food & Fruit Festival’ to Boost Local Agriculture

Kolkata, 10th August 2024: Department of Food Processing Industries & Horticulture, Government of West Bengal in association with Indian Chamber of Commerce (ICC) inaugurated a three-day ‘Bengal Food & Fruit Festival’ on Friday, 9th August 2024 at Netaji Indoor Stadium. The event was unveiled by Shri Shobhandeb Chattopadhyay, Hon’ble Minister-in-Charge, Department of Agriculture, Government of West Bengal; Shri Arup Roy, Hon’ble Minister-in-Charge, Department of Food Processing Industries & Horticulture, Government of West Bengal; Shri Moloy Ghatak, Hon’ble Minister-in-Charge, Department of Judicial, Labour and Law, Government of West Bengal; Sri Biplab Roychowdhury, Hon’ble Minister-of-State (I/C), Department of Fisheries, Aquaculture, Aquatic Resources & Fishing Harbour, Government of West Bengal; Sri Onkar Singh Meena, IAS, Principal Secretary, Department of Agriculture, Government of West Bengal; Shri. Khalil Ahmed, IAS, Principal Secretary, Department of Food Processing Industries & Horticulture, Government of West Bengal; Smt. Manirupa Bhattacharjya, WBCS(Exe.), FPI&H Department; Special Secretary, Food Processing Industries and Horticulture, Government of West Bengal; Smt Swati Bandyapadhyay, Special Secretary, Department of Food Processing Industries & Horticulture, Government of West Bengal; Smt Kasturi Sengupta, Additional Secretary, Department of Food Processing Industries & Horticulture, Government of West Bengal; Mr Shrikant Goenka, Chairman, Agriculture & Food Processing Committee, Indian Chamber of Commerce; and Ms Madhuparna Bhowmick, Senior Director, Indian Chamber of Commerce. The festival celebrates the rich agricultural and horticultural heritage of Bengal, offering a platform to showcase local produce, promote trade and encourage culinary innovation.

Shri Shobhandeb Chattopadhyay, Hon’ble Minister-in-Charge, Department of Agriculture, Government of West Bengal, said, “The Bengal Food and Fruit Festival will run from 9th to 11th August, bringing together dignitaries, businessmen, farmers and entrepreneurs. Our farmers have faced severe challenges, including loans, famines and droughts, leading to tragic outcomes. Today, significant improvements have been made: farmers receive ₹10,000 annually, split into two payments of ₹5,000 each, while those with smaller landholdings receive ₹4,000. Insurance premiums are fully covered and if a farmer dies before age 60, their family receives ₹2 lakh immediately. Farmers over 60 are also provided with pensions, putting families in a better financial state. We’ve seen increased production and mechanisation, spending ₹3,000 crores on infrastructure development. We’ve established 93 cold storages, 367 dal mills, 339 warehouses and 1,132 farm mechanisation units to aid our farmers. We’re now self-sufficient in producing potato seeds, no longer dependent on other states. Today’s festival showcases different stalls aimed at promoting awareness of these advancements. We’ve also established around 1,000 FPOs, involving about 5 lakh people, and there are approximately 600 Sufal Bangla outlets across West Bengal. We remain committed to the continued betterment of the department.”

Shri Arup Roy, Hon’ble Minister-in-Charge, Department of Food Processing Industries & Horticulture, Government of West Bengal, stated, “I have been with the department for some time now, and after joining, I discovered fruits and vegetables I had never heard of before, including Dragon Fruit. I’ve visited several farms in Jalpaiguri and other districts across West Bengal and we’re in the process of constructing labs to further our vision of leading and advancing the food and horticultural industry. We take pride in our diverse variety of mangoes, such as Himsagar and Langra, which are very popular among the masses, along with many other exceptional fruits and vegetables. Recognising the health risks associated with fruits ripened using carbide, which can be harmful to patients, we have established ripening centres across various districts to ensure safe consumption. We are now vigilant about weather forecasts, especially cyclonic storms, which allows us to harvest mangoes before storms hit and send them to our ripening centres, benefiting our farmers. In 2023-24, we distributed 82 lakh seeds, including mangoes, guava, lemon, cashew, papaya, dragon fruit, coconut and oranges, to farmers free of cost. Although we currently import onions from Nasik, we do have onion production in districts like Murshidabad and since 2012-13, we have seen an increase in production. Recently, we’ve committed to further enhancing onion production, with efforts focused on improving storage conditions and promoting practices like vermicomposting. Additionally, we’re cultivating orchids in polyhouses. We believe that with continued effort, we will see significant growth in the days to come. This festival, which will continue for three days, is a testament to our ambition to take the food processing industry to new heights.”

Shri Moloy Ghatak, Hon’ble Minister-in-Charge, Department of Judicial, Labour and Law, Government of West Bengal, said, “We have made significant strides in the food processing and horticulture industry, producing a variety of special fruits, including kiwi and dragon fruit, right here in Bengal. Our Hon’ble Chief Minister is dedicated to uplifting farmers, promoting cash crops alongside other agricultural products. Over the years, our production has grown substantially and the CM has also proposed increasing crop insurance for farmers.”

Mr Shrikant Goenka, Chairman, Agriculture & Food Processing Committee, Indian Chamber of Commerce, said, “Despite covering only 2.7% of India’s geographic area, West Bengal supports 8.8% of its population. We have approximately 71 lakh farming families, of which 96% are small and marginal. This festival celebrates the rich diversity of agriculture and food processing in Bengal with a special focus on the state’s exotic fruits and vegetables, such as dragon fruit, avocado and year-round produce. We are proud of the strides made in broccoli, mushroom cultivation and strawberry plantations, which are opening new avenues for our farmers. Under the guidance of key government officials and experts, the horticulture and floriculture sectors have flourished, making West Bengal a leading state in food processing. This festival is not only a showcase of our achievements but also a platform to encourage further investment, technological innovation and export growth in the region. The seminars and exhibitions will highlight the latest technologies to inspire our farmers and FPOs who have travelled to be here. The government has been supporting, guiding and subsidising numerous interventions, such as micro-irrigation and improved seeds, all of which are available for exploration at this exhibition. I encourage our farmers to take full advantage of these resources as we progress together. Over the next three days, we hope it will serve as a catalyst for greater success in agriculture and food processing.”

Sri Onkar Singh Meena, IAS, Principal Secretary, Department of Agriculture, Government of West Bengal, said, “Under the guidance of the Hon’ble Chief Minister of West Bengal, significant progress has been made in the food processing and horticulture departments. Members of the Indian Chamber of Commerce and others involved in the food processing sector should focus on increasing the value addition of products, which will benefit farmers. Those in food processing also handle the import of various crops, so it’s crucial that we engage in more discussions with farmers. This will help them become more informed and benefit both themselves and the entire department.”

Highlighting on the farmers, Sri Biplab Roychowdhury, Hon’ble Minister-of-State (I/C), Department of Fisheries, Aquaculture, Aquatic Resources & Fishing Harbour, Government of West Bengal, stated, “There are numerous crop options available for production. Learning is an ongoing process and there’s always more to discover. Let’s take this opportunity to expand our knowledge in the food and horticulture sectors and work towards their continuous improvement.”

Ms Madhuparna Bhowmick, Senior Director, Indian Chamber of Commerce, said, “The Bengal Food and Fruit Festival highlights the rich agricultural diversity of our region and serves as a vital platform for showcasing local produce. As the Indian Chamber of Commerce, we are committed to advancing this initiative, fostering innovation and promoting sustainable growth in the food and horticulture sectors.”

SIRC of ICAI Hosts 56th Regional Conference with Focus on Knowledge and Professional Growth

Bengaluru, 10th August, 2024: The Southern India Regional Council (SIRC) of the Institute of Chartered Accountants of India (ICAI) today inaugurated its 56th Regional Conference, themed “Jignasa – Quest for Knowledge.” The conference is scheduled for August 9th and 10th, 2024, in Bengaluru. The 2 days Conference will delve upon various technical sessions on matters related to GST, FEMA, Income Tax, Companies Act, Information Technology, Direct Taxes and more.

The conference was inaugurated today by CA. Ranjeet Kumar Agarwal, President of ICAI along with Sri Shelley Jindal, Principal Chief Commissioner of Income Tax, Karnataka & Goa, and Dr. Binod Kumar Das from DRDO as Guest of Honours.

On the sidelines of the conference, CA. Ranjeet Kumar Agarwal, President, ICAI, interacted with the media and shared various initiatives undertaken by ICAI.

In his address to the media, CA. Ranjeet Kumar Agarwal, President, ICAI said, “This year, for the first time, ICAI has established a committee as ‘AI in ICAI’ to harness the potential of technology for the professional growth of students, members, and employees. On July 1st, we introduced CA GPT for our members, offering access to 16 specialized GPTs, and subsequently launched a GPT for students to help them in exam preparation by delivering comprehensive study materials and relevant questions on a single platform.”

He further added, “To support members and hand hold them to learn AI, an exclusive Certificate Course on AI for Members was launched recently. The course aims to establish a foundational understanding of AI concepts, enhance proficiency in AI tools pertinent to both practitioners and industry professionals, and develop AI skills for effectively leveraging these technologies in professional practices. The first batch of the Certificate Course on AI for Chartered Accountants (AICA) – Level 1 will commence on August 21. To further empower and upskill members, a publication featuring 100 AI tools tailored for financial and accounting functions, specifically designed for Chartered Accountants”

He highlighted that, in order to keep up with the rapidly changing world, ICAI is focused on Continuing Professional learning of its members so that they stay up to date on trends and technology. For this ICAI organizes over 7,000 programs annually across the country, demonstrating its wide-reaching influence and strong commitment to professional growth.

Highlighting emerging opportunities for Chartered Accountants in the domain such as forensic accounting, Non-financial Reporting, Mediation, Dispute Resolution, Insolvency, Risk Management, forex and treasury management, valuation, international taxation etc, CA. Ranjeet Kumar Agarwal, President, ICAI stated that over 50% of the 4600 insolvency professionals being Chartered Accountants, this underscores commitment and enthusiasm for continuous learning. Additionally, he emphasized the crucial role Chartered Accountants have played in the successful implementation of GST law, providing essential expertise to help businesses navigate the transition and maintain compliance.

ICAI have collaborated with the Office of the Comptroller and Auditor General (C&AG) to collaborate on accounting and auditing issues and to strengthen the accountability mechanism for good governance in Local-self Government. Together with O/o C&AG, a Certificate Course for Accountants of Panchayats and Municipal Bodies has been launched to make available skilled & trained accountants at grassroot level to improve accounting of Local-self Government in India. These courses provide specialised training to 12th Pass Students and above and skilling them and opening employment opportunities in over 200,000 panchayats and municipal bodies.

In order to make Indian CA Firms bigger, Committee for Aggregation of CA Firms (CACAF) has been formed by ICAI to bring ease to the practicing firms in networking so as to tap the synergies of the combined strength and resources. Recognizing the importance of aggregation as a strategic move towards enhancing operational efficiency, global competitiveness and professional growth, the ICAI has recently revised the Guidelines for Merger and Demerger and has also approved the Guidelines for Aggregation of LLPs.

Asian Paints and St+art India unveil ‘Dawn of Valour’ in Tawang, honouring the Indian Defence Forces

National, 10th August 2024: Marking a decade-long partnership between Asian Paints and St+art India Foundation, they unveil one of their most unique projects, ‘Dawn of Valour’. Over the last 10 years, Asian Paints & St+Art India have brought to life over 450 murals covering nearly 30 cities, thereby making “Art Accessible For All”. This project pays homage to the Indian Defence Forces stationed at Tawang, Arunachal Pradesh by creating multiple interventions that celebrate them. ‘Dawn of Valour’ is the first project under their newly launched initiative, ‘Asian Paints St+art Frontier.’ This initiative features art interventions devoted to honouring the bravery and dedication of the Indian Defence Forces.

The ‘Dawn of Valour’ mural stands as a powerful tribute to the Indian armed forces in Tawang, located on the Indo-Sino border. The artwork by Reshidev R K, created on the Army Helipad Wall, encapsulates the soldiers’ commitment to protecting the land amidst the harsh Himalayan terrain & extreme weather conditions. It depicts the glorious feats of the Indian Army while also capturing the rich culture of Tawang. It paints a vibrant picture of the stories that make up the fabric of this rugged, yet calm region.

At its heart, the mural portrays “The Heroes of Tawang”: Subedar Joginder Singh, Rifleman Jaswant Singh Rawat, and Major Ralengnao ‘Bob’ Khathing, whose heroic acts during historic conflicts inspire both the military and the local community. The artwork also celebrates the crucial role of women in the armed forces, portraying them in various roles and highlighting their valuable contributions. The mural also integrates spiritual icons, reflecting the depth of Tawang’s cultural heritage. Traditional motifs and symbols such as dragons, elements like yaks that inhabit the frontier region; these artworks further highlight the region’s rich cultural legacy and strategic significance.

The strategic location of the mural at the Helipad, close to the Tawang War Memorial, ensures that every visitor can experience the true essence of Tawang on a grand scale. This mural is not just a visual spectacle but a touching narrative of valour, culture, and the enduring spirit of the Indian Defence Forces, resonating with pride and emotion for all who witness it.

The mural highlights the harmonious co-existence of the Army and locals in Tawang. Every aspect of the army’s tenacity in this challenging terrain is celebrated in the artwork brought to life by Asian Paints’ Apex Ultima Protek – an exterior paint that stands strong through harsh conditions. This very spirit is celebrated through this intervention.

In addition to the mural, is a community project at the OR (Other Ranks) Mess for the troops stationed at Tawang. The project aims to create an environment that evokes a sense of home & pride, featuring wall artwork that reflects the rich heritage and traditions of Maharashtra & the valour of Chattrapati Shivaji Maharaj. Inside, the artwork celebrates iconic elements such as Dhol Drums, Diyas, Tutari, and Rajmudra, and portrays cultural festivities like Pola Festival and Fugdi, creating a vibrant and comforting space for the soldiers.

Amit Syngle, Managing Director & CEO of Asian Paints, expressed, “Our purpose at Asian Paints is to bring joy to people’s lives. We exist to beautify, preserve, transform all spaces & objects, bringing happiness to the world. Our collaboration with the St+art team has enabled us to create inspiring art landmarks across the nation. ‘Dawn of Valour,’ our first project dedicated to the Indian defence forces under Asian Paints St+art Frontier, marks a significant milestone in the 10th year of our association. Art has a universal appeal & together we are extending the canvas to create a larger impact. Through this mural and artworks, we honour our soldiers stationed at Tawang, their invaluable contributions to national security and their sacrifice of staying away from their homes. We are also delighted to unveil this project just in time for India’s 78th Independence Day. We extend our deepest gratitude to our soldiers, whose courage inspires us and their dedication helps us create a sense of unity and belonging.”

Hanif Khureshi, Co-founder & Creative Director, St+art India, highlighted, “Through the Asian Paints * St+art Frontier initiative, our goal is to bring together the rich cultural narratives of regions like Tawang with the lived experiences of our defence personnel. In this project, we aimed to curate a visual story that not only honours the bravery of the soldiers but also integrates the unique spiritual and cultural heritage of Tawang. This mural is a testament to the power of art to transcend conventional storytelling, offering a layered narrative that speaks to resilience, duty, and cultural identity. Moving forward, we intend to continue exploring such intersections, using art to highlight the harmony between military service and civilian life. Each project under the Asian Paints * St+art Frontier banner will strive to bring to the forefront the shared histories and values that connect us, fostering a deeper understanding and appreciation among diverse communities across India.”

Brigadier Vipul Rajput, Commander, 190 Mountain Brigade, noted, “The mural in Tawang is a recognition of the Indian Army’s diverse personnel who hail from various parts of our country. Each soldier brings a piece of their unique cultural heritage, creating a vibrant mosaic within the local context of Tawang. This project illustrates the synergy between our soldiers and the local community, showcasing how they integrate and contribute to the region’s rich cultural fabric. With this vision, St+art India along with Asian Paints have brought this project to life by blending art with local traditions and military narratives. This initiative honours our soldiers and enriches the cultural landscape, demonstrating the power of art to unify and celebrate the unique bond between the Indian Army and the communities they serve.”

Celebrate Raksha Bandhan with Affordable Luxury Essentials from LANGUAGE

Raksha Bandhan, a celebration of the unique bond between siblings, is a perfect time to show love and appreciation. Language invites you to strengthen this special connection by gifting from its exquisite range of leather accessories.
Language offers a wide variety of accessories including wallets, belts, and bags, meticulously handmade by skilled artisans from the finest leather. These pieces blend traditional craftsmanship with modern style, guaranteed to impress your sibling.

 Among the standout pieces in the collection are the stylish Chloe HandBag and the chic Flamingo HandBag. The Chloe tote has everything you need to make a statement, with chord zipper pullers, a detachable coin pouch, a chord sling, a card case, and a key ring attachment. These features add convenience and functionality, while the elegant design makes this tote perfect for any occasion. The Chloe tote is made from premium flat leather, has a fabric lining, additional key charm, and golden finished fittings. It is available in Wine and Black.

 This Raksha Bandhan, encourage gifting and delight your sibling with Language’s top-quality accessories made from premium leather sourced from their own tanneries, known for their unparalleled quality, ensuring a stylish celebration.
Celebrate the cherished bond you share with your sibling with a special gift from LANGUAGE – Exclusive brand outlets at andNungambakkam Chennai, Express Avenue Chennai, Sarath City Mall Hyderabad, Lulu Mall Kochi, Pavilion Mall Ludhiana and HiLITE Mall Kozhikode. Language is also present in more than 250 multi-brand outlets across the country, at Viz., Metro Shoes, Mochi, Inc.5, Centro, Rocia, Regal Shoes.

Resilient FMCG growth in India, rural continues to outpace Urban: NIQ

Hyderabad/Mumbai- 10th August 2024: NielsenIQ (NIQ), the world’s leading consumer intelligence company, released the FMCG Quarterly Snapshot for Q2’24 (AMJ’24) today. According to the report, the Indian FMCG (fast-moving consumer goods) industry has experienced a 4.0% growth in value, reflecting the industry’s resilience despite a slight moderation in volume growth to 3.8%. Price growth stabilized at a modest 0.2% in Q2’24, underscoring a stable market environment.

Roosevelt Dsouza, Head of Customer Success – India at NIQ, stated, “The Indian FMCG industry growth has been steady, reflecting its resilience and adaptability. The sector experienced a 4.0% value growth in Q2 2024, attributed to relaxed consumption patterns. This deceleration in volumes is largely due to macroeconomic headwinds. While rural volume growth at +5.2% continues to outpace the 2.8% growth in urban areas, both regions experienced softer consumption this quarter.”

Urban and Modern Trade markets see a sequential slowdown in consumer demand in Q2’24. Urban consumption growth dips to 2.8% from 5.7% in Q1’24 while Rural growth is at 5.2% vs 7.6% in the last quarter. However, Rural outpaces urban in most parts of India in terms of volume growth. Modern Trade continues to exhibit double-digit volume growth at 10.9%, however slower than last quarter (Q1’24). Volumes decelerated for Traditional Trade registering 3.1% growth in Q2’24 compared to 5.6% in the previous quarter (Q1’24).

FMCG consumption growth has been primarily impacted by the Food sector, with growth at 2.4% in Q2’24 compared to 4.8% in Q1’24 (refer to Chart 3). This moderation in volume growth is attributed to Staple categories – Packaged Salt, Packaged Atta, and Palm Oil. In Non-Food categories, the volume growth is at 7.6% in Q2’24 compared to last year, a drop from 11.1% in Q1’24. This downtrend in consumer demand for Personal Care & Home Care categories is observed in both Urban and Rural. In Urban markets, Personal Care categories are witnessing a volume growth at 5.2% in Q2’24 (vs. 9.7% in Q1’24), while in Rural it is resting at 8.3% in Q2’24 (vs. 10.6% in Q1’24). In Rural, high contributing categories Laundry and Utensil cleaners within Homecare witnessed slow consumption.

Over the Counter categories like Rubefacient, Analgesics exhibited a growth in value sales to 13.8% in Q1’24 backed by price growth.

Summer-specific categories like soft drinks, packaged drinking water, prickly heat powder, and glucose powder flourished in Q2’24 vs YA. Soft drinks grew 2x faster than FMCG, however experienced a volume growth at 9.2% in Q2’24 (vs 10.8% in Q1’24).

Within the broader FMCG industry, large players continue to demonstrate stronger performance compared to small, mid players, and giants. Small players face challenges in keeping prices stable, thereby impacting their volumes.

PwC India launches VIKSIT framework to propel India towards achieving the goal of USD 1 trillion in merchandise exports

Mumbai, 10 August 2024: From an Atmanirbhar Bharat to a Viksit Bharat, India is taking rapid strides to move up the growth trajectory. The Government of India has set an ambitious target of achieving USD 1 trillion in merchandise exports by FY30.

Against this backdrop, PwC India unveiled its report, ’VIKSIT: An approach for India to achieve USD 1 trillion exports’, which outlines a strategic framework to elevate India’s export capabilities and drive sustainable growth. Aligned with PwC’s approach of building sustained outcomes, the framework hinges on actionable insights that will contribute to India’s long-term economic success. The report was launched by the Hon’ble Union Minister of Commerce and Industry, Shri Piyush Goyal, in New Delhi last evening.

At the launch, Sanjeev Krishan, Chairperson, PwC in India, commented, ‘India’s rise to becoming the fifth largest global economy is mirrored by its increasing share in global trade, driven by a focus on export-led growth. We’re excited to introduce the VIKSIT framework, a strategic initiative designed by PwC to leverage the nation’s strengths and address key infrastructural and technological impediments to boost the country’s export potential. The framework can be leveraged over the coming years to enable a continuous dialogue on enabling competitiveness across the government and the private sector”.

The report emphasises the critical role of public and private sector interventions towards creating a robust export ecosystem in the journey towards USD 1 trillion merchandise exports. The Government has a significant role to play in the creation of an enabling ecosystem and the VIKSIT framework offers strategic guidance to various government bodies to resolve bottlenecks and drive export growth across key sectors such as automobiles, electronics and food processing.

The report details how VIKSIT’s pillars — V focusing on value addition and volume growth in exports by identifying priority products and industries, I standing for infrastructure investments; K for knowledge sharing and capacity building, S for sustainable supply chain, I for inclusive industrialisation focused on MSMEs and T denoting technology enablement — have the potential to uncover new sector-specific opportunities to help achieve India’s export ambitions.

This report serves as a strategic blueprint for driving India’s export growth, offering a detailed roadmap with crucial steps to engage MSMEs, industry players and infrastructure developers, while ensuring long-term sustainability. “Currently, just ~1.36% of India’s registered MSMEs are exporting, revealing a gap between export growth and MSME internationalisation. Challenges such as the business environment, export procedures, finance access and market information hinder MSME exports and must be addressed to unlock India’s path to achieving USD 1 trillion in merchandise exports”, added Krishan.

As per the report, there are five considerations that need to be weighed in while charting India’s export growth journey. While adding scale, India’s manufacturing sector also needs to improve its value addition ratio to prevent commoditisation of the export basket and ensure that exports move towards high value-adding and emerging segments. In addition to product diversification, the report emphasises the criticality of expanding India’s geographic market access to mitigate market concentration. It exhorts the need for the country to pursue a trade strategy to position Indian products competitively while reducing the burden of compliance and non-tariff barriers (NTB) conformity.

Talking of challenges that exist, Krishan highlighted a crucial point where he mentioned, “Readiness to address the implications of climate change and recent mitigation measures will impact international trade. Both pricing and non-pricing policies for climate mitigation have accelerated during the last 10 years. Since these policies and initiatives will impact both access and competitiveness, exporters across the globe will need to reflect on decarbonisation within their respective value chains.”

The report underscores the vital role of technology in driving export efficiency, product quality and unit production. Advanced technology adoption in the Indian manufacturing and export sectors has been relatively slow, impacting the ability to cater to international market trends and demand. Considering the growth in containerised traffic owing to exports growth, the report recommends port authorities to envisage both capacity expansion and technology-led customs process enhancement.

Amongst its many action-oriented recommendations, the VIKSIT framework advises a technology driven pathway for the automobile sector wherein OEMs lead the enablement of the entire supply chain by integrating tier-2 and tier-3 manufacturers. It emphasises that electronics export growth should be driven by backward integration in manufacturing to improve value addition and scale expansion simultaneously. Access to capital, skills and innovation will be required to build sector capabilities. For food processing, it will be crucial to move up from primary processing to cater to the demand for secondary and above, and diversify towards convenience with ready to eat/cook alternatives while ensuring alignment with global food standards.

Domestic football returns in Saudi Arabia for historic season with the Saudi Super Cup 2024 in Abha

Riyadh, Saudi Arabia – 10 August 2024: The Saudi Super Cup, the traditional curtain raiser in Saudi Arabian football, is set to ignite the 2024-25 season with an opening weekend of high-intensity football and fierce competition as the first matches of the new season kick off in Abha this week.

Hosted in the Prince Sultan bin Abdul Aziz Stadium in the picturesque city of Abha for the first time, the top four teams from Saudi Arabian football’s historic 2023-24 season will compete for the first honours of the new season.

As the top four finishers in the Roshn Saudi League (RSL) in the previous season, Al Nassr, Al Ahli, Al Taawoun and domestic treble winners Al Hilal will compete for the prestigious trophy to open the campaign.

Following Al Hilal’s record fourth Super Cup win in April, this year’s tournament will continue with the expanded four-team format introduced in 2023. The semi-final phase will see Al Hilal begin their campaign against Al Ahli on 13 August, while Al Nassr take on Al Taawoun on 14 August in Abha. The winners will then proceed to the Saudi Super Cup final, set to kick off at 7.15pm local time on Saturday 17 August.

As the domestic treble-winners last season, Al Hilal is aiming to maintain their flawless form from the 2023-24 campaign which saw the Riyadh side secure their record 19th league title under Portuguese manager, Jorge Jesus. Portugal’s Ruben Neves, Serbian duo Aleksandr Mitrovic and Sergej Milinković-Savić, and the returning Neymar are all set to feature in the season-opening competition in Abha.

Returning for their second top-flight season, Al Ahli will provide a tough test for last year’s champions as the Jeddah team aims to secure their first Super Cup victory since 2016. With a strong pre-season featuring the return of international stars in Edouard Mendy, Riyad Mahrez and Roberto Firmino, the opening match in Saudi Arabian football will provide a lively start to the new season.

Al Nassr, led by Portuguese superstar Cristiano Ronaldo, have their sights set on redemption going into the new season, after a dramatic penalty shoot-out loss in the King’s Cup final to end a difficult campaign. With new signing Brazilian goalkeeper Bento set to feature, the Riyadh side will be aiming to add to their two previous successes in the Saudi Super Cup.

As the surprise performers in the 2023-24 season, Al Taawoun will be aiming to replicate their fine form that saw the Buraydah outfit achieve an impressive fourth place finish in the top flight. Led out for the first time by new manager Rodolfo Arruabarrena, Al Taawoun are set to feature in the curtain raiser with aims to bring an early shock to the new season.

The Saudi Super Cup features as part of a historic new season of domestic football in Saudi Arabia and is the first football tournament to take place in the Kingdom since the historic announcement of Saudi Arabia’s official bid to host the FIFA World Cup 2034, bringing together the world for the largest edition of the tournament to date in line with the campaign’s slogan of ‘Growing. Together.’.

With football standing as a fundamental pillar within the Kingdom’s Vision 2030 strategy to inspire its youthful population, the 2024 edition of the Saudi Super Cup is set to bring the nation’s biggest footballing moments to new parts of the country ahead of a historic new season.

SIAM Hosts 10th Automotive Logistics Conclave Focused on Enhancing Efficiencies in Automotive Logistics

Mumbai, August 10, 2024: The Society of Indian Automobile Manufacturers (SIAM) organised the 10th SIAM Automotive Logistics Conclave today. The conclave themed “Enhancing Efficiencies in Automotive Logistics” explored the most recent advancements and strategies that are expected to influence the future of the automotive logistics sector in India. The event had enthusiastic involvement from government officials, logistics leaders of vehicle manufacturers, logistics firms, and industry professionals in the automotive supply chain.

The opening session titled “Future of Automotive Logistics: Innovations Driving Logistics Efficiency” was moderated by Mr. Rahul Mishra, Partner at Kearney. The distinguished panel of experts including Mr. B N Puri, Director at the Asian Institute of Transport Development (AITD), Mr. Saurabh Sood, President & Managing Director of GATX India Private Limited (GIPL), Mr. Rahul Yadav, CEO of Axestrack, Mr. S Kannan, Head of Outbound Logistics at TVS Motors and Mr. Prem Verma, Director PVA Services. The panelists discussed various innovations driving efficiency in automotive logistics, setting an insightful tone for the day’s discussions.

During the session, Mr. Tapan Ghosh, Chairman of the SIAM Logistics Group and Vice President of Sales at Hyundai Motor India said,” The Automotive Industry’s turnover has grown beyond Rs 20 lakh Crores contributing about 6.8% to India’s GDP. With the Automobile Industry transforming towards newer powertrains, the automotive logistics segment should also transform. Automotive logistics should not only be efficient but also resilient and sustainable.”

The first session titled “Smart Logistics Solutions” was Moderated by Mr. Girish Mirchandani, Editor of Transtopics. Mr. Subhash Chandra Karol, Director, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India, said, “Smart logistics is essential for efficiency, and the government is committed to reducing logistics costs from 10% to 7-8% of manufacturing costs. Initiatives like PM Gati Shakti are driving infrastructure development, and with the National Logistics Policy, we’re targeting further cost reductions and improved global rankings by 2030. Collaboration across ministries and the use of GIS-based data are key to these efforts.”

Commenting on accident response and logistics improvements, Mr. K C Sharma, Chief Engineer at the Ministry of Road Transport & Highways, Government of India, said, “Mr. K C Sharma, Chief Engineer at Ministry of Road Transport & Highways, said: “Accidents arise from factors like road conditions and vehicle issues. To address this, we’re piloting a project in Chandigarh and Assam that connects accident data with medical facilities, ensuring swift, cashless treatment for victims. We’re also advancing GNSS-based tolling for seamless, pay-as-you-use travel to reduce stoppages and enhance movement across the country.”

This session also included Mr. Anil Chhikara, Advisor Transport at Assam Transport Department, Mr. Vipul Nanda, Chairman & Managing Director of Pallia Trans Logistics, Mr. Herman Sips, Senior Strategic Advisor at Smart Freight Center and Mr. Yash Pal Sachar, Vice President of Corporate Affairs at Ashok Leyland Limited.

The second session was focused on “Reducing Carbon Footprints by Enhancing Logistics Efficiency” and highlighted innovative approaches to reducing the environmental impact of logistics operations in the automotive sector.

During this session, Mr. Alok Tripathi, Executive Director at the Railway Board, said, “We’re steadily increasing the share of railways in automobile logistics to promote sustainability. With the shifting of the market from small to larger vehicles, the Indian Railway system will be equipped with newly designed wagons to cater to the evolving industry needs. Starting with just 10 units in 2016-17, our fleet has grown to 176 with plans to expand to 300. Our rail coefficient in automotive logistics was 1.5% a decade ago, and by this financial year, it will go upto 22%”

The session also brought together panelists including Mr. Ashish Bhatt, MD of APLL VASCOR Automotive Pvt Ltd, Mr. Mukesh Haritash, Director of Chetak Group, Mr. Rajeev Bhaskar, COO (Rail Business) at IVC Logistics, and Mr. Pawan Agrawal, Executive Vice President at Maruti Suzuki India Ltd. This session was moderated by Mr. Ajeet Kumar, Director of Marketing & Communication at Cargo Connect.

Mr. Arun Malhotra, Auto Industry Expert & Former MD of Nissan India, and Mr. S D Chhabra, Executive Officer (Parts, Accessories & Logistics) at Maruti Suzuki India Ltd. also participated in the programme. In recognition of excellence in the field, over 30 logistics companies were honored by the SIAM Logistics Group members for their contributions to the industry.

The 10th SIAM Automotive Logistics Conclave offered a major opportunity for stakeholders to talk and consider the future of automotive logistics in India while promoting a collaborative approach to address obstacles and leverage opportunities in the sector.

MapmyIndia Q1FY25 Revenue grows 13.5% YoY to Rs 101.5 Cr, with EBITDA Margin at 421% and PAT Margin at 32.1%

New Delhi, India,10th August 2024: C.E. Info Systems Ltd. (“MapmyIndia”), India’s pioneering and leading deep-tech digital mapping, geospatial software and location-based IoT products, platforms, APIs and solutions company, announced today its financial results for the First Quarter of FY2025 ended on 30^th June 2024.

Key Consolidated Financial Highlights for Q1 FY25:

Commenting on the Q1 FY25 results, Rakesh Verma, Chairman & Managing Director, MapmyIndia, said “For MapmyIndia, FY25 has gotten off to a strong start, with Q1FY25 Revenue growing 13.5% YoY to Rs 101.5 Cr, EBITDA growing 14.3% to Rs 42.8 Cr, and PAT growing 12.1% to Rs 35.9 Cr. Our EBITDA margins expanded by 20 bps to 42.1% in Q1FY25 vs 41.9% in Q1FY24. And our PAT margins stay extremely strong at 32.1%. Our Map-led business demonstrated strong growth of 17.2% and EBITDA margins of 50.1%. Our IoT-led business, as per our focus, showed tremendous growth of 89.6% in its High Margin SaaS revenue. During Q1FY25, we also expanded the capabilities and addressable market for MapmyIndia to cover AI-Driven Data Analytics & Consulting needs of customers across industry verticals, and this will be beneficial to MapmyIndia in the time to come. The levers for growth and profitability are in place, and we are on track towards our milestone of crossing Rs 1000 Cr revenue by FY27/FY28.”

Rohan Verma, CEO & Executive Director, MapmyIndia, said “During Q1FY25, our A&M (Automotive & Mobility Tech) revenue grew 9.5% and C&E (Consumer Tech & Enterprise Digital Transformation) revenue grew 16.9%. New customer acquisition as well as up-sell and cross-sell of newer use cases and solutions to existing customers were on track, with key wins and go-lives across all our customer segments including automotive, fleets, new-age tech companies and traditional corporates, and the government, including defence. Our wide range of solutions saw increased adoption, such as our E-Horizon for ADAS & Advanced EVs, Video Telematics for Fleets, APIs & SDKs for app developers & enterprises, geospatial solutions including 3D digital twin mapping. Besides our offerings of MaaS, SaaS, PaaS and IoT devices, the new add-on ability to deliver AI-driven Data Analytics and Bespoke Consulting to Enterprise clients, will aid us in increasing our value proposition and share of wallet amongst our customers as we can aid them in their digital transformation journey, in an even bigger way. Finally, our consumer products’ adoption continues to rise nicely.”