Author: Rabindra

Vegas Mall Felicitates Retailers with Reward and Recognition for Their Commendable Contribution

11th July 2024  New Delhi, Delhi, India  Vegas Mall organized the Retailers’ Reward and Recognition 2024 event held at Imperfecto Club to acknowledge the meritorious contribution of its retail partners. The event offered recognition to all the retailers and served as a platform to bring together industry leaders and retail icons.

The event was graced by various prominent retail brands who were recognized and rewarded for their unwavering commitment towards delivering unparalleled services and products. Each retailer was lauded for their unique contributions, innovative approaches, and steadfast dedication to customer satisfaction.

Mr. Ravinder Choudhary, Vice President of Vegas Mall, expressed his heartfelt appreciation for their exceptional contribution, saying, “We feel extremely privileged to honor our praiseworthy retailers. They are pivotal in elevating Vegas Mall’s shopping experience and providing our customers with the utmost satisfaction. We look forward to continuing this fruitful partnership with them and offering our visitors an unmatched shopping experience.”

YES Securities Launches #GiftHerTheFuture Campaign Encouraging Mothers to Pursue Dreams

11th July 2024  Mumbai, Maharashtra, India  YES Securities, a leading financial services company, is excited to launch its Mother’s Day campaign, #GiftHerTheFuture as a tribute to the idea that mothers are more than just moms. The campaign aims to inspire mothers to take the first step towards shaping their future while managing their motherhood responsibilities.

The campaign invites mothers seeking part-time employment to explore opportunities with YES Securities. The company is eager to welcome applicants who are motivated to balance career growth with family responsibilities.

Through a compelling ad film, YES Securities aims to empower mothers and support the idea that they are capable multitaskers who can simultaneously nurture their families and pursue their career goals. The ad film campaign is live across all social media platforms of YES Securities.

Speaking about the campaign launch, Mr. Anshul Arzare, Managing Director & CEO of YES Securities India Limited, says “We strongly believe that motherhood is about empowering women to reach their full potential and bringing out their versatility. Our #GiftHerTheFuture campaign is a testament to the strength of mothers and an invitation to explore new horizons without compromise. We believe every mother deserves a chance to follow her passion beyond daily duties. Hence, as part of our Mother’s Day campaign, we are opening our doors to mothers who are seeking part-time job opportunities. We hope our campaign will encourage homemakers to take the first step towards shaping their future and chasing their dreams.”

The #GiftHerTheFuture campaign aligns with YES Securities’ longstanding commitment to women’s empowerment and social progress. Through initiatives like investor education and financial awareness sessions, the company continues to make meaningful contributions to the empowerment of individuals and communities across the country. Further, the company is committed to fostering an inclusive work environment that allows individuals to thrive professionally while prioritizing their family commitments.

BLS International Signs Contract with the Embassy of Portugal for Visa Outsourcing Services in Morocco

11th July 2024  New Delhi, Delhi, India  BLS International Services Ltd., a globally renowned tech-enabled services provider, today announces the signing of a significant contract with the Embassy of Portugal in Morocco for visa outsourcing services. Over the last few years, we have been actively collaborating with the Portuguese government; this is our second major win, following our initial contract with Portugal in Russia. This exclusive agreement marks a milestone in enhancing the visa application process for travelers to Portugal from Morocco.

Under this contract, BLS International will introduce an innovative appointment system fortified with cutting-edge facial recognition technology. This advancement promises to streamline the visa application process, ensuring efficiency and security for the estimated 20,000 visa applicants expected annually at the center. The locations served include Rabat and Casablanca, with an expansion plan to open a few more centers in the coming months, reflecting the expansive reach of BLS International’s services across Morocco.

Mr. Shikhar Aggarwal, Joint Managing Director of BLS International Ltd., emphasized the significance of this partnership and said, “This ground-breaking collaboration with the Embassy of Portugal heralds a new era for visa services in Morocco. With state-of-the-art technology at our core and an unwavering pursuit of excellence, we are not merely improving the visa application process—we are transforming it. Our commitment is to provide a secure, efficient, and unparalleled visa experience that sets a global benchmark for quality and customer satisfaction. As we forge ahead, our focus remains on ensuring that every interaction is as remarkable as our vision.”

Under the terms of this agreement, BLS International will undertake several critical services at their Visa Application Centre (VAC) locations. These services include the acceptance of visa applications along with passports, visa fees, and supporting documents. Moreover, BLS International will distribute visa application forms at the service counters and through a dedicated website, where applicants can easily download the forms. The team will also assist applicants in completing these forms and provide accurate information about the different visa categories available and detailed guidance on the application process. This comprehensive approach ensures applicants receive all necessary support and information, facilitating a smoother and more efficient visa application experience.

India to Benefit from FedEx’s USD 2 Million Investment in Global Urban Conservation Efforts

11th July 2024  Mumbai, Maharashtra, India  FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world’s largest express transportation companies, is investing over USD 2 million toward sustainable communities. FedEx will support 40 urban conservation projects worldwide, including India from March through May of 2024.

FedEx Cares volunteers, in collaboration with local NGOs, have successfully planted nearly 10,000 saplings in Mumbai and Delhi. These new trees will help reduce air pollution, mitigate the effects of urban heat islands and climate change, and enhance community health and wellness. These efforts are part of FedEx’s broader commitment to environmental stewardship.

“More than just a symbolic act of environmental commitment, our initiatives reflect our dedication to India,” expressed Suvendu Choudhury, Vice President Operations, India and CE, MEISA, FedEx. “By enhancing urban landscapes, these initiatives also contribute to broader ecological efforts, with FedEx actively participating to shape a greener future for India.”

This initiative aligns closely with India’s pledge under the Bonn Challenge to restore 26 million hectares of forest by 2030(1) and its National Forest Policy, which aims for forests to cover 33% of the country(2). The work of FedEx Cares volunteers showcases how FedEx’s global efforts support India’s progress toward a sustainable future.

Team Korea Reaches J&K to Explore Economic Opportunities, Push CSR Activities

11th July 2024  Srinagar, Jammu and Kashmir, India  In its bid to promote economic cooperation between J&K and Korea, a high-level Korean mission, called Team Korea, comprising representatives of the Embassy of the Republic of Korea, KOTRA (Korea Trade-Investment Promotion Agency) India-Korea Business Cooperation Center, Korea SMEs and Startups Agency (KOSME), Korea Institute for International Economy Policy (KIEP), Korea International Trade Association (KITA), K-SURE- Korea Trade Insurance Corp., and Korea Plus of Invest India visited Srinagar, J&K on May 9. They organized the 2024 Korea-India CSR-Economic Cooperation Seminar here with the support of the Confederation of Indian Industry (CII), J&K.

According to the KOTRA officials, the primary objective of this event was to foster mutual economic cooperation between J&K and Korea. The Embassy of the Republic of Korea, KOTRA India-Korea Business Cooperation Centre, and Team Korea members plan to share the attractive features of J&K with Korean companies in India and Korea.

Sungjoong CHO, a Commercial Counsellor at the Korean Embassy, who led the Team Korea delegation emphasized Korea’s commitment to bolstering cooperation with Indian states and regions holding untapped potential.

Noting that J&K is famous for horticulture, handicrafts, and tourism, as well as its recent discovery of lithium deposits, Mr. CHO expressed optimism for J&K to harness this economic opportunity while preserving its natural beauty and rich cultural heritage.

Ms. Jeongseon Lee, Executive Director of India-Korea Cooperation Center mentioned in her presentation that, “Major transformations are taking place in the global value chain, and these changes can potentially lead to new prospects for collaboration between India and Korea. For example, the discovery of lithium deposits in J&K can offer a new avenue of further bilateral collaboration leveraging Korea’s expertise in EV battery Industry.”

The seminar was attended by senior J&K Government officials and top-notch industrialists. Syed Junaid Altaf Bukhari, Chairman of CII J&K Council & Group Executive Director of FIL Industries Pvt. Ltd., extended a warm welcome, highlighting the significance of bilateral collaboration in fostering economic growth and sustainable development.

A special address by Khalid Majeed (KAS) Director to Industries & Commerce Dept., Govt. of J&K, shed light on the UT’s policies and identified sectors ripe for business ventures. This discourse aimed to provide Korean companies with insights into the conducive environment for investment and engagement within the state.

During presentation, Khalid Jahangir, Managing Director of JKTPO shed light on New Central Sector Scheme (NCSS) and how Korean companies can see J&K as a potential investment spot.

In a corporate social responsibility initiative, the Embassy of the Republic of Korea, K-Sure, KITA, and KOSME donated various Korean products including small blankets, socks, toothpaste, toothbrushes, and body lotions for the kids of NGOs.

Sonipat-Panipat Emerges as the Growth Corridor for Real Estate in India

11th July 2024  New Delhi, Delhi, India
Key Highlights:

• Due to their proximity to Delhi, Sonipat-Panipat cities have benefitted from the spillover effect of Delhi’s rapid urbanization and population growth.
• Panipat’s geographical positioning as a transit hub ensures excellent connectivity to northern states, making it an attractive destination for businesses, industries, and professionals seeking well-connected cities for work and living
• For Sonipat, an industrial accumulation in the vicinity provides a conducive environment for real estate growth in the area, both residential and commercial.

Northern India is fast becoming the hotbed of the premium and affordable residential market. As one moves a little ahead of Delhi, the once-sleepy stretch between Sonipat and Panipat is now emerging as the growth corridor of sorts for the real estate sector.

The recent survey by R&R stressed that one of the key drivers of the real estate market in Sonipat-Panipat is its proximity to the national capital, Delhi. Being situated in the National Capital Region (NCR), these cities have benefitted from the spillover effect of Delhi’s rapid urbanization and population growth.

Vishesh Prakash, Head, R&R, shares, “Many people, especially working professionals, are looking for that suit their need, looking for holistic and affordable housing options outside Delhi, and Sonipat-Panipat offer relatively competent property prices compared to the national capital. Infrastructure development has played a crucial role in shaping the real estate landscape of Sonipat and Panipat. The region has witnessed the development of highways, expressways, and other transportation networks, which have improved connectivity and accessibility. The Kundli-Manesar-Palwal (KMP) Expressway and the Eastern Peripheral Expressway have significantly reduced travel time between Sonipat-Panipat and other parts of the NCR, making it an ideal destination for real estate investment.”

While Panipat’s geographical positioning as a transit hub ensures excellent connectivity to northern states, making it an attractive destination for businesses, industries, and professionals seeking well-connected cities for work and living; for Sonipat, an industrial agglomeration in the vicinity provides a conducive environment for real estate growth in the area, both residential and commercial.

The establishment of industrial corridors and special economic zones (SEZs) in the Sonipat-Panipat stretch has also led to an influx of industries and businesses, which has created employment opportunities and stimulated housing demand.

Residential real estate development in Sonipat-Panipat has primarily focused on providing affordable housing options to middle-income homebuyers. Gated communities, integrated townships, and affordable housing projects have proliferated in the region to cater to the housing needs of the burgeoning population. Additionally, there has been a rise in demand for plotted developments and independent houses, especially among those looking for more space and customization options.

Even the commercial real estate sector in Sonipat-Panipat is witnessing steady growth, driven by the demand for office spaces, retail outlets, and commercial complexes.

Situated in the National Capital Region (NCR) of India, Sonipat-Panipat enjoys proximity to Delhi, which is a major driver for its real estate market. The strategic location offers easy access to the national capital and its economic opportunities while providing a relatively quieter and more affordable living environment compared to Delhi.

Besides, Government policies promoting urbanization, industrial growth, and infrastructure development play a significant role in shaping the real estate market in Sonipat-Panipat. Initiatives such as ‘Housing for All’ and incentives for affordable housing projects provide impetus to the sector and encourage investment.

With all this and a lot more planned for the region, the Sonipat-Panipat region can be termed as the growth corridor for the real estate sector in India.

High Five:

• Sonipat-Panipat’s proximity to Delhi, the national capital, and its location within NCR make it a highly strategic investment destination.
• The region has witnessed significant infrastructure development, including new highways, expressways, and dedicated freight corridors.
• The establishment of industrial corridors, special economic zones, and manufacturing clusters attract businesses to the region.
• The region offers relatively affordable housing options than Delhi-NCR, making the region an attractive destination for homebuyers.
• Government initiatives supporting urbanisation, infrastructure development, and industrial growth make it a potential hotspot.

fischer India is Great Place to Work Certified for the Second Consecutive Time

11th July 2024  Bengaluru, Karnataka, India  fischer Building Materials India Pvt. Ltd., a leading company in the Fixing System Solution Industry, is thrilled to announce its recent achievement of being Great Place to Work® Certified™ in India (from May 2024 to May 2025) for the second consecutive time. This prestigious Certification is a testament to the company’s unwavering commitment to fostering a positive and inclusive workplace culture.

Great Place to Work is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Their employee survey platform empowers leaders with the feedback, real-time reporting, and insights they need to make strategic people decisions.

fischer India’s Managing Director, Mr. Mayank Kalra, expressed his joy and gratitude upon receiving this recognition. In a statement, Mr. Kalra voiced his sincere delight at fischer India’s prestigious Certification as a Great Place to Work® for the second consecutive time, shining a spotlight on their unwavering dedication to crafting an unparalleled work ecosystem where employees not only thrive but soar to unprecedented heights. With unwavering conviction, he illuminated the pivotal role of a positive workplace culture as the very bedrock of innovation, collaboration, and advancement.

This incredible achievement shines a light on Fischer India’s unwavering dedication to excellence, touching upon crucial aspects like trust in management, respect for every individual, fairness in the workplace, personal pride, and the strong bonds between colleagues. The company’s steadfast commitment to openness, responsibility, and effective communication has earned them remarkable recognition, particularly in the area of trusting their leaders.

Mr. Kalra spoke from the heart about the deeply ingrained value of respecting every person, a value that runs deep within fischer India. They stand for diversity, mutual respect, and a genuine understanding of one another. Ensuring fairness and equal opportunities for all employees creates an environment where everyone feels valued and empowered, fostering a sense of belonging and purpose. This relentless pursuit of excellence fills every member of the organization with an unshakable sense of pride.

Through fostering a spirit of camaraderie among their team, Fischer India has cultivated an atmosphere of collaboration, teamwork, and open dialogue, leading them to extraordinary achievements. The certification stands as a testament to the unwavering dedication and tireless efforts of every team member, a reminder of what they can accomplish together. It inspires Fischer India to continue prioritizing the satisfaction, growth, and development of their employees, attracting the best talent and nurturing a culture of unparalleled brilliance.

With a sparkle in his eyes and a smile on his face, Mr. Kalra not only just sees it as a pat on the back for past successes but as a guiding light for their ongoing journey of improvement. This recognition inspires them to aim even higher, reaffirming their dedication to creating an exceptional work environment that not only empowers the team but also drives their continued success.

Great Place To Work is the global authority on workplace culture. Their mission is to help every place become a great place to work for all. Their recognition is the most coveted and respected in the world for elevating employer brands to attract the right people. Their proprietary methodology and platform enable organizations to truly capture, analyze, and understand the experience of all employees. Our groundbreaking research empowers organizations to build cultures that retain talent and unlock the potential of every employee. Since 1992, their Certification, Best Workplaces™ Lists, and global benchmarks have become the industry standard, built on data from more than 100 million employees in 150 countries around the world.

Past-Forward HR: SHRM Tech Conference & Expo 2024 Day One Concludes with Groundbreaking Insights

11th July 2024  Hyderabad, Telangana, India  The Society for Human Resource Management (SHRM) India successfully concluded the first day of its SHRM TECH Conference & Expo 2024, held at the HICC Novotel, Hyderabad. The conference, renowned for being a nexus of technology and human resources, brought together industry leaders, HR professionals, and tech innovators to explore the latest trends and solutions that are shaping the future of the HR community.

To build a truly transformative world, the two-day conference kick-started with a thought-provoking discussion on the seismic shift in the work landscape that is driven by rapid technological progress, delving into the cutting-edge Work-Tech ideas that can empower organizations.

Talking about the conference Ms Achal Khanna, CEO of SHRM India, APAC and MENA, said, “As we navigate through the complexities of the modern workplace, technology emerges not just as a tool, but as a catalyst that redefines our approach to human resource management. SHRM Tech24 underscores the importance of embracing innovative technologies to build more inclusive, efficient, and resilient organizations. Upskilling and training to keep pace with the latest tech and innovations it’s the need of the hour. At SHRM, we are committed to offering an effective platform for accessing these opportunities. Moreover, integrating technology across different sectors while leveraging human creativity and intellect is the ultimate driving force behind achieving ROI and success.”

The day was packed with dynamic sessions, keynotes, and panel discussions, featuring a robust lineup of speakers from various sectors including D Shivakumar Conference Chair, Operating Partner Advent International Private Equity; Ramesh Ramadurai, Managing Director, 3M India; S Sivakumar, Group Head – Agri and IT Businesses, ITC; Anurag Dahiya, Chief Commercial Officer ICC; Sharad Sharma, Co-Founder iSPIRT foundation who shed light on the transformative impact of digital infrastructure on India’s business landscape.

Adding to this, Mr Nick Schacht, Chief Commercial Officer, SHRM, “Today we know more about Generative AI than we knew a few years back. In fact, HR Tech is the single biggest trend in the industry currently. It is interesting to note that companies are beginning to develop approaches to better understand how to use AI effectively building tools to implement the same. This also opens a wide range opportunity that can leverage the increased productivity coining the term the ‘Next Practices’. At SHRM we are also working closely with Microsoft to develop a tool to guide HR professionals on how to implement AI in the HR. Furthermore, using AI serves as a platform to develop operating principles turning HR professionals into work consultants helping employees skill and reskill themselves to keep up with the evolving pace.”

The second half of the day was followed by a TED-style talk, with industry leaders Babita Baruah, CEO of VML India, and Poonam Kaul, Founder of House of Omkar and Walnut Tree (CMO-on-Demand), who shared insights on staying relevant in the digital world and navigating the challenges of advertising in the era of AI.

Over 5000 delegates were hosted at the conference today. The two-day conference will be packed with opportunities to learn from HR visionaries and technology innovators. Looking forward to day 2 of the conference will continue with topics including the effectiveness and limitations of AI, the future of work and the role of empathy in a changing landscape, predictive analytics for employee retention, and others.

Financial Turmoil Hits Indian Stock Market: Iranian-Israeli Conflict and US Inflation Catalysts

11th July 2024  Mumbai, Maharashtra, India  In a tumultuous turn of events, the Indian stock market witnessed a staggering plummet of over 800 points in April, resulting in a loss of nearly 5 Lakh crores. Analysts are now warning of an impending financial tsunami as tensions escalate between Iran and Israel, coupled with the specter of soaring US inflation, threatening to destabilize not only the Indian market but also send shockwaves through US and European financial sectors.

Insights from Mr. Rajesh Shukla, Chief Strategist, National Intellectual Advisory (NIA), and Mentor for Venture Studio Capital, Jagoo Nari, and Padhega Bharat.

Key Contributors to the Market Plunge:

Iran-Israel Conflict: The escalating tensions and military actions in the Middle East have injected profound uncertainty into global geopolitical dynamics. The bombardment by Iran has further fueled apprehensions, prompting widespread selling in the Indian equity market as investors grapple with the specter of heightened instability.

Weak Global Markets: The ripple effects of the Middle East tensions reverberated across global markets, precipitating a downturn in US equities. Consequently, as the Indian market opened, it succumbed to the prevailing negative sentiment.

Surging US Dollar Rates: The relentless ascent of the US dollar, with the dollar index nearing 107 levels, has exacerbated concerns. Moreover, the US dollar’s unprecedented surge to a 34-year high against the Japanese Yen has catalyzed a surge in US Treasury yields, triggering a wave of selling across global equity markets, including India.

Escalating Crude Oil Prices: Crude oil prices have surged to a six-month high in both domestic and international markets, witnessing a 6 percent increase in March 2024 alone. This surge, compounded by a further 3 percent uptick in April, poses significant challenges to the Indian and global economies, exerting pressure on local currencies and fueling inflationary pressures.

Foreign Institutional Investors (FIIs) Exodus: Against the backdrop of geopolitical uncertainty and rising US dollar rates, FIIs have been divesting from the Indian stock market. This trend, which intensified last week, has been exacerbated by the onset of conflict, as investors opt to hold liquid assets amid heightened uncertainty.

Looking Ahead

While India confronts immediate challenges, there are silver linings amidst the storm. Despite market turbulence, the Indian outlook remains promising, offering robust opportunities for both domestic and global investors. Sectors such as Tourism, Airlines, Hospitals, and Road Infrastructure present compelling investment prospects, buoyed by India’s burgeoning economy, which has surpassed $3.60 trillion and continues to grow at a rate exceeding 8% annually. This stands in stark contrast to the slower growth trajectory of the Chinese economy, currently languishing at less than 2%.

In conclusion, while the current market volatility underscores the challenges ahead, it also underscores India’s resilience and potential for sustained growth. As investors navigate the choppy waters, strategic investments in key sectors hold the promise of lucrative returns amidst an evolving economic landscape.