Author: Rabindra

ISKCON’s sacred Maha Prasad now available on the ONDC Network, backed by Shiprocket for seamless delivery

New Delhi, 21st May 2024:: In a groundbreaking union of spirituality and technology, the International Society for Krishna Consciousness (ISKCON) “Maha Prasad” is now available to order on the ONDC Network. Teaming with Shiprocket, ISKCON aims to extend the spiritual experience of Maha Prasad to devotees and seekers across the nation.

As ISKCON’s Maha Prasad becomes available on the ONDC Network, it represents a one-of-a-kind offering enabled by the Network. With this, ISKCON aims to expand the reach of its sacred tradition of offering Prasad by embracing technology as a means to deepen spiritual connections in the modern era.

Shiprocket’s robust logistics network and expertise will ensure a seamless and reliable delivery experience, allowing devotees to receive ISKCON’s Maha Prasad with the same reverence and sanctity as offered at ISKCON temples worldwide.

As this unique offering goes live on the Network, T. Koshy, MD & CEO, ONDC, said, “ISKCON’s Maha Prasad on the ONDC Network is a testament to the evolving landscape of digital commerce where sacred traditions merge with modern convenience. For devotees and seekers eager to experience the divine taste of ISKCON’s Maha Prasad, you can now simply order the same via the Network, directly from the temple to your doorstep.”

Shri Gauranga Das Ji from ISKCON said, “Prasadam is a secret weapon, transforming us from within, subtly unraveling the knots of envy, anger, and lust. Just as Paracetamol quietly heals our fevers, Prasadam works its magic unseen, gradually eradicating the diseases of the heart. In the realm of material perception, Prasadam acts as both diet and medicine, silently guiding us towards inner peace and contentment.”

International HR Day 2024: Celebrating HR Professionals Driving Future Workplaces with AI

As we mark this International HR Day to celebrate the work of HR professionals who make our workplaces stimulating and play a crucial role in shaping modern-day offices, nurturing a progressive work culture for achieving the overall organizational Goals.

This year’s HR Day is themed around HR professionals’ role in shaping the new future, armed with new-age technologies like Artificial Intelligence to build a cohesive ecosystem conducive for developing future corporate leaders. ‘HR leaders feel a sense of urgency about moving forward with artificial intelligence (AI) in the HR function. 38% of HR leaders have explored or implemented AI solutions to improve process efficiency within their organization. Global IT – research & consulting firm Gartner outlines, 76% of HR leaders believe that if their organization does not adopt and implement AI solutions, such as generative AI, in the next 12 to 24 months, they will be lagging in organizational success compared to those that do.’

We capture the views of a couple of global leaders in the related role, expressing their views on the indispensable part that such technologies play in shaping future workplaces:

Mr. Amit Chincholikar – Chief Human Resources Officer, at Yokohama Off-Highway Tires, says – “At Yokohama, we’re committed to leveraging the power of our people to deliver meaningful solutions for our customers, stakeholders and communities. We understand the pivotal role that human capital plays in driving inclusive growth. Our focus is on fostering a progressive and dynamic culture – one that nurtures a workforce that is future-focused. This forward-looking strategy isn’t just about incorporating cutting-edge tools; it’s about fundamentally redefining our workplaces and practices to be more innovative, inclusive, technology-enabled and path breaking. By leading these advancements, we’re committed to creating environments where our colleagues and teams are empowered to excel, and challenged to innovate. We are committed to building a future powered by our human capital – one that offers with a world of opportunities and a sustainable ecosystem for everyone.”

Mr. Sumit Kumar, Chief Strategy Officer, TeamLease Degree Apprenticeship, explained – “On HR Day, it’s important to acknowledge the evolving role of HR professionals which is no longer confined to basic administrative tasks, HR now plays a strategic and business-centric role, essential for preparing organizations for the future. HR professionals are the linchpin in developing a future-ready talent pool, crucial for companies to thrive in a competitive landscape.”

“In today’s technological era, HR faces the challenge of building teams of skilled professionals capable of competing with advanced AI models. Their focus is on fostering synergy through a Tripartite Agreement model, which brings together industry, academia, and the youth. This collaboration ensures that the workforce is equipped with the necessary skills and knowledge, making the organization resilient and innovative in the face of technological advancements.” added Mr. Sumit.

Hinduja Foundation Partners with Atal Community Innovation Centre to Empower Rural Women in Alwar

Alwar, 21st May 2024: In rural India, where people depend on groundwater or weekly municipal water supply, getting fresh water daily is a major household chore, mostly shouldered by women. On average, it takes about three hours to fetch water to meet the needs of a family of four – a rough estimate for when the water source is within a 2 to 5 km radius.

In rural Rajasthan, however, the number can go up to four hours, including the time for travel on foot.

Things are albeit a bit different in Alwar, Rajasthan.

Five years after Hinduja Foundation (HF), the philanthropic arm of the 110-year-old Hinduja Group, and Ashok Leyland (AL), the Group’s flagship subsidiary, successfully carried out sustainable water resource management initiatives, 450 women beneficiaries are gearing up to be trained as women entrepreneurs in Alwar.

The new initiative – an off-shoot of HF’s flagship CSR Water Stewardship program, Jal Jeevan – will empower rural women through skill development and business outreach. In the first phase, 30 women will be trained in the food industry and running tailoring business.

The project will be implemented jointly by the Hinduja Foundation, Ashok Leyland, and BML Munjal University (a Hero Group initiative). Under this partnership, the University, through its Atal Community Innovation Centre – BML Munjal University, will collaborate with Sujal Mahila Mahasangh Alwar (SMMA), a grassroots organization supported by the Hinduja Foundation and Ashok Leyland.

SMMA is a collective of women leading village-level planning and promoting Water, Sanitation, and Hygiene (WASH) practices. In this pilot program, ACIC-BMU has initially identified about 450 women, known as Sujal Sahelis, who have entrepreneurial aspirations and a desire for self-reliance.

For the Hinduja Foundation, the new venture by Sujal Mahila Mahasangh Alwar is a testament to the resounding benefits accrued under Jal Jeevan, Hinduja Group’s flagship CSR program of Water Stewardship. The CSR project was started in Alwar in February 2020 with an investment of approximately Rs 9 Crore, and till date, it has benefited approximately 31,000 rural women.

To enable at least 80% of the participating Sujal Sahelis to launch their micro-businesses successfully, ACIC-BMU has said it is committed to fostering innovation, entrepreneurship, and community development. This collaboration with Sujal Mahila Mahasangh exemplifies its dedication to empowering marginalized communities.

Paul Abraham, President, the Hinduja Foundation, commented: “We are pleased to establish a partnership with BML Munjal University to empower our Sujal Sahelis with the requisite skills and resources to become successful entrepreneurs. This program is aligned with our mission to create sustainable livelihoods and foster economic independence among women in rural communities. By equipping these women with essential training and support, we endeavour to unlock their full potential and assist them in becoming self-reliant entrepreneurs, thereby contributing to the holistic development of their communities.”

Dr. Davinder Singh, CEO, ACIC-BMU said, “Our needs assessment indicated that the women in the village are keen to utilize their existing skills to generate income and support their families. The enthusiasm and resolve they have demonstrated to the concept of starting their own micro-businesses is indeed inspiring. This has impelled us to launch this program and furnish them with the requisite training and resources. We are grateful to Mr. Paul Abraham, President, the Hinduja Foundation, for accepting our proposal and enabling this empowering training initiative for the Sujal Sahelis. Through this collaboration, our objective is to establish a sustainable entrepreneurial ecosystem that not only empowers these women but also contributes significantly to the economic development of the region.”

This program is a collaborative effort involving several organizations including Ambuja Foundation. SWAN Livelihood as the training implementation partner. Sujal Mahila Mahasangh, led by President Sangeeta, plays a crucial role in facilitating this initiative.

Ashok Leyland inaugurates two Dealerships in Faridabad, and one in Greater Noida

Chandigarh, 21st May 2024: Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer today, inaugurated three new MHCV dealership outlets in NCR region of the new dealer – TVS Trucks & Buses. Out of the three dealerships, two are in Faridabad and the other is in Greater Noida.

The first advanced 3S dealership is strategically located at Khasra 9/1, Dundsa More, near Gadpuri Toll Plaza, Faridabad, spans 40,337 square feet and features five service bays. The second dealership in Faridabad is situated at Khasra 15/1, covers 107,347 square feet, and includes 12 service bays and 07 accident bays. Both newly launched dealerships are strategically positioned on NH19, which connects Delhi to Haryana, Uttar Pradesh, Bihar, Jharkhand, and West Bengal.

The third state-of-the-art 3S dealership in Greater Noida is situated at Gautam Budh Nagar, Greater Noida, Uttar Pradesh, covering 75,423 square feet and featuring 12 service bays and 06 accident bays. Its proximity to the Eastern Peripheral Expressway and Yamuna Expressway ensures easy access for traffic moving to the eastern, southern, and western regions of the country.

The dealerships will cater to M&HCV vehicles, and are equipped with modern tools and equipment, wheel alignment machines, 24×7 brake-down assistance backed up with Mobile Service Vans, rest area for drivers, and BS6-trained technicians. The newly launched dealerships will play an important role for Ashok Leyland to increase its footprint in the northern region.

Mr. Sanjeev Kumar, President – MHCV, Ashok Leyland, said, “We are excited to further strengthen our presence in Northern India. This region has always been an important market for Ashok Leyland. We have been working on creating a strong foothold in the region, and these new dealerships will bolster our presence in this geography. Our partner TVS Trucks & Buses Pvt LTD, with a strong presence in the territory, will ensure we grow our family of customers while helping them serve better. We want to contribute significantly to the larger ecosystem in this area with our mobility solutions. The new dealerships are being opened to further strengthen our reach and will take us one step closer to achieving our vision of being one of the Top 10 CV makers in the world.”

Mr. Mr Madhu Raghunath, Director, TVS Trucks & Buses Pvt LTD said, “We are thrilled to strengthen our partnership with Ashok Leyland further and expand in Faridabad and Greater Noida. The new dealerships will assist the brand in establishing itself as a powerful force in the region. Ashok Leyland has been a promising and preferred brand in Northern India due to its reliability, ruggedness, and better total cost of ownership. With this partnership, we hope to take it a step ahead, reach more customers, and provide end-to-end mobility solutions for their transportation needs.”

Ashok Leyland has one of the largest and fastest-growing networks in the commercial vehicle industry, and the company is expanding its brand presence through a robust network of dealerships and service centers to provide best-in-class after-sales support to its customers. The company will cover the major transport hub offering Haulage, Tractor trailers, ICV Goods, Tippers, Fully Built RMC, Haulage, and School/Staff Buses through these dealerships.

PE surges in Q1 2024: Deal volume hits US$5.2bn, growth in value, reveals Mazars in India report

Chandigarh, India –21st May 2024: In Q1 2024, India’s Private Equity (PE) landscape surged, as highlighted in Mazars in India’s latest PE Deal Tracker Report. With 310 transactions totaling around US$5.2bn, this period marked a significant resurgence from previous quarters. Notably, it’s the most active quarter since Q4 2022 in terms of deal volume, with a remarkable 61.8% growth in deal value compared to Q1 2023, which stood at US$3.2bn. Transaction numbers rose by 26.5%, from 245 deals in Q1 2023 to 310 deals in Q1 2024, showcasing renewed vigor in India’s PE arena. Additionally, Q1 2024 saw a notable surge in PE exit activity, marking the highest number of exits since Q3 2021.

Akhil Puri, Partner, Financial Advisory, Mazars in India, stated, “A quarter marked by the resurgence of mega deals and sectoral diversification, Q1 2024 showcased a vibrant PE landscape where traditional sectors like infrastructure, telecom, healthcare, and energy gained significant funding. The $2 bn ATC acquisition and notable ESG investments underscored a dynamic investment environment. PE exits surged with 50 deals valued at US$3.6bn, highlighting robust market conditions. While VC funding saw a decline, the future looks promising with India’s resilient fundamentals and policy support fostering a conducive environment for startup growth and global competitiveness.”

PE activity by stage of investment:

Angel/Seed investment trend:

In Q1 2024, Angel/Seed investment remained the biggest category within the PE deal landscape, accounting for 52.6% (down from 56.7% in Q1 2023) of the overall number of deals. After a muted 2023, the Angel/Seed category witnessed a significant upward movement in both value and volume during the first quarter of 2024. The deal value within the category surged by 29.0% to US$307.3m during Q1 2024, compared to US$238.2m in Q1 2023. The number of transactions in the quarter expanded by 17.3% to 163 deals, compared to 139 deals in Q1 2023.

Venture capital investment trend:

During Q1 2024, the venture capital category is the second most active category in the private equity deal scape in terms of both number of transactions and deal value, representing a 26.7% share of the overall deal value and a 30.3% share of the total number of transactions. In terms of growth, the category witnessed a significant uptick in volume, recording 94 deals in Q1 2024, marking a 14.6% increase over Q1 2023. In contrast, the overall deal value for the category shrunk by 27.6% and reached US$1.4bn, compared to US$1.9bn in Q1 2023.

Private equity investment trend:

During the quarter, private equity investments category grabbed lion’s share of the overall PE deal value and accounted for a 43.2% share, up nearly 20.0% from 24.0% share in Q1 2023. In terms of growth, the deal value for the category increased nearly two-fold (191.8%) to US$2.3bn in Q1 2024, compared to US$772.0m in Q1 2023. The number of transactions for the category was up by only 1 deal in the quarter, marking 17 deals, compared to 16 deals during the same period in the previous year.

PE exits in India – Q1 2024 highlights:

Much like PE investments, the PE Exit activity during Q1 2024 witnessed a significant surge, marking the highest number of exits since Q3 2021. During the period, a total of 50 exits were inked, up from just 11 exits in Q1 2023, registering a whopping 354.5% growth. This massive increase in volume fueled a nearly five-fold increase in value, with the overall exit value in Q1 2024 reaching US$3.6bn, compared to US$651.1m in Q1 2023.

PE exit trends by exit route – Q1 2024 insights:

In terms of growth in exit value, open market exits witnessed a massive rally in deal activity during Q1 2024. As compared to Q1 2023, the open market exits value grew multi-fold and reached US$2.9bn during the quarter, up from US$121.1m in Q1 2023. Meanwhile, the secondary sales exit route saw a significant reduction, contracting by a massive 93.5%.

The PE landscape in Q1 2024 reflects a resilient and evolving market in India. The resurgence of mega deals, sectoral diversification, and a robust exit environment indicate a positive trajectory for the PE industry. With continued policy support and a conducive investment climate, India remains an attractive destination for PE investments, fostering innovation, growth, and economic development.

World Bee Day: Purabi Dairy sets ambitious target to sell over 4 ton of locally-produced honey in 2024

Guwahati, 21st May 2024: On the occasion of World Bee Day on May 20, Assam’s largest and favorite dairy cooperative, Purabi Dairy, has announced that it is targeting the sale of more than 4 tons of locally-produced honey this financial year.

West Assam Milk Producers’ Cooperative Union Ltd (WAMUL), last year in May introduced honey under its brand ‘Purabi’ sourced from the local beekeepers of Assam. Natural Honey produced by Naba Milon Beekeepers and Producers Cooperative Society Ltd., Hajo (Kamrup), developed under NDDBs initiative to boost honey production through honey cooperatives in Assam, to encourage sustainable beekeeping and honey production techniques. The initiative aims to enhance the livelihood of honey producers and establish a local market for natural honey and beekeeping products. The honey produced is sourced by WAMUL and marketed under the brand name of Purabi Honey.

The ‘Purabi Honey’ was first made available in pack sizes of 125 grams and 250 grams. However, due to increased demand for high-quality natural ‘Purabi Honey’, 500 grams packs were later introduced in the market.

In the first 10 months, Purabi Dairy sold more than 1.2 tons of Purabi Honey, highlighting the people’s choice for natural and locally-produced honey. This significant achievement underscores the growing consumer preference for high-quality, home-grown products and the successful expansion of Purabi Dairy’s product line. The overwhelming response to Purabi Honey not only reflects its superior taste and quality but also indicates a positive trend toward supporting local businesses and sustainable food sources.

“WAMUL imparted training on beekeeping to our farmers thus creating a new source of livelihood for the milk producers along with the existing dairy value chain. The training programme and the subsequent launch of Purabi Honey enabled us to provide top quality locally-produced natural honey to our customers besides helping us increase farmers’ income. This is a win-win ecosystem for everyone,” said S K Parida, General Manager, WAMUL.

The training programs started in 2022 itself and since the Purabi Honey launch in May 2023, Purabi Dairy is effectively using its infrastructure for procurement and marketing of honey and are providing quality honey to its customers besides providing a source of additional income to the farmers.

At a time when even bigger brands are under regular scrutiny for the purity of their honey, Purabi Honey has successfully penetrated the market with a natural, authentic, and high-quality product. “Our customers have consistently shared positive feedback, praising the rich, authentic taste and the purity of Purabi Honey. Initially, they tried the product by purchasing smaller packs, but now there has been greater demand for larger packs, which is why we introduced the half-kilogram pack,” said S M Hussain, Marketing, WAMUL.

The success of ‘Purabi Honey’ is a testament to the positive efforts of the cooperative sector in promoting sustainable local produce. It marks a significant milestone for WAMUL and its associated farmers as they continue to expand their product portfolio and make a positive impact on the local agricultural community.

Shein Spoofing: A Ploy to Harvest User Credentials

By Harish Kumar G S Executive Director – Sales at Check Point Software Technologies, India & SAARC

Introduction

Shein is one of the most popular shopping apps in the world. It’s the second most downloaded shopping app globally, with over 251 million downloads.

The e-commerce platform is Googled more frequently than major brands like Nike and adidas.

Shein gained popularity for its inexpensive clothing and low prices. However, the company has faced significant criticism for its poor human rights record.

Additionally, according to a TIME report, Shein has been exploited by scammers in various ways, including the use of fake gift cards on Instagram and counterfeit websites. India’s e-commerce industry has witnessed a significant surge in the past seven years, with its estimated revenue climbing from USD 15.53 Billion in 2017 to USD 63.17 Billion in 2023. This rapid growth has brought about fresh opportunities for e-commerce sector players while also subjecting them to heightened cybersecurity risks and compliance regulations. In India, websites and applications witnessed over 5.14 billion cyber-attacks in 2023, with a 10-fold increase in attacks targeting software-as-a-service (SaaS) companies that store high-value customer data.

The retail and e-commerce industries were also major targets of carding attacks. 8 out of 10 Indian websites faced targeted bot attacks, seeing a 46% increase each quarter, totaling over 467 million bot attacks. The most common cyberattacks targeting the Indian e-commerce sector include phishing, credential stuffing, and Magecart attacks that inject malicious code to steal payment information.

That brings us to the focus of today’s report. Researchers from Harmony Email will discuss how hackers are impersonating Shein in an effort to steal user credentials. Over the last month, they have identified more than 1,000 of these fraudulent emails.

Bengal’s Dynamic Business Evening: Igniting Startup Success

Kolkata, 21st  May 2024: Friends of Bengal were thrilled to host A Business Evening Highlighting Fundraising, Business Pitching & Networking. The event featured 90-second startup pitches for potential investors, alongside expert insights on fundraising. Attendees capitalized on networking opportunities, fostering collaboration and innovation. This event epitomized Bengal’s entrepreneurial drive and commitment to startup growth.

The event featured an impressive lineup of distinguished guests and speakers. Som Mandal, the founder of Friends of Bengal Foundation and partner at FoxMandal, Solicitors & Advocates, was present alongside Rimjhim Ray from Heyo Phone, who served as both a speaker and judge and was instrumental in Bringing Goa Angels Network and Venture Garage onboard. Piyal Bhadro from Prerna Udyog and Arun Kumar Mukherjee founder ROC Republic of Calcutta also joined as judges. Sandeep Sengupta, the Event Coordinator from ISOEH, ensured the evening ran smoothly and contributed as a Guest Judge. Additionally, the event was hosted by Kamalini Paul from De Sovrani. Kavya Dutt of Burganza Travels and *Events Head Friends of Bengal donned the Hat of the Master of Ceremonies.

Rajarshi Nag from Drivers4Me App services was a speaker and a Gift Partner, Arpan Basu from Gibraltar Air Springs was a speaker as well as a Knowledge Partner, Kaushik Roy from Roadyssey and the Brainchild behind the Kolkata to London Drive Initiative, Sayanton Seth Project SR and Keya Seth Aromatherapy, and Debashis Dutt owner of GD Pharmaceuticals From the House of Boroline, Suthol, and Khas Soap contributed to the event’s success with their presence and insights and Attendee Gift Hampers.

The event featured an exciting lineup of startup pitches, providing a platform for budding entrepreneurs to showcase their innovative ideas and business models. Attendees had the chance to discover groundbreaking startups, engage with passionate founders, and explore investment opportunities. Moreover, the event offered valuable insights into fundraising strategies, with expert speakers sharing their knowledge and experience in securing funding for startups. Whether attendees were seasoned investors or aspiring entrepreneurs, they gained valuable insights into the world of startup financing.

Networking was a key focus of the evening, providing ample opportunities for attendees to connect with like-minded individuals, forge new partnerships, and expand their professional networks. Participants enjoyed an energetic and dynamic atmosphere conducive to meaningful conversations and collaborations. This event was a powerhouse of innovation, connection, and growth, showcasing Bengal’s entrepreneurial spirit at its finest. From rapid-fire pitches to expert advice and networking galore, it was an evening that truly fueled the flames of startup success.

Som Mandal founder of Friends of Bengal Foundation and partner at FoxMandal, solicitors & Advocates said. “Friends of Bengal Foundation aim to revitalize Bengal’s relevance by engaging residents and the global Bengali diaspora, fostering unity, and promoting collaborative efforts for the region’s growth and development.”

Rimjhim Ray, co-founder, MyOperator & HeyoPhone | Partner, Goa Angel Network said, “Kolkata has a fast-growing startup ecosystem. This ecosystem needs strong support from established businesses, mature startups, and investors to back this ecosystem with capital, market access, and deep support. As an entrepreneur and investor myself am happy we are able to provide a platform through Friends of Bengal for creating awareness about venture capital.

25 on 25… Celebrate Your Voice and Vote with The Lodhi

New Delhi, 21st May 2024 In honor of the importance of voting and the right to have citizens’ voices heard, The Lodhi New Delhi is offering a special promotion on May 25th, the day Delhi gears up to vote for the Lok Sabha Elections 2024. The 5-star hotel, one of the city’s premier luxury havens, is offering a 25% discount on dining and takeout applicable to all their restaurants and bars, championing this essential right.

This campaign is available from May 25th to May 27th to all guests who can show proof of voting in the 6th phase of general elections in Delhi. It aims to emphasize the importance of participation, urging Delhi’s citizens to step out and make their voices heard as the world’s largest democracy goes to the polls.

“At The Lodhi, we believe in the power of every individual’s voice and the significance of active civic engagement in fostering democracy,” stated Abhimanyu Singh Lodha, General Manager at The Lodhi. “By offering this unique incentive, which is a small token of appreciation, we aim to not only acknowledge the importance of each vote but also inspire greater voter turnout. We envision a future where every citizen feels empowered to make their mark on the direction of our city. Through this initiative, we invite fellow citizens to join us in shaping our collective destiny.”

Post-voting, guests can partake in flavorsome cuisine at any of The Lodhi’s renowned restaurants, such as Elan (offering global cuisine), Perbacco (a contemporary Italian fine dining), and The Safari Lounge (serving exotic cocktails and appetizers). A member of the Leading Hotels of the World, The Lodhi New Delhi offers an unforgettable dining experience with its diverse cuisines for all its discerning diners, making it a haven for gourmands.

The Lodhi invites everyone in Delhi to participate in the election on May 25 and then enjoy the offerings as a celebration of their contribution to democracy.

Address: The Lodhi, Near CGO Complex, Lodhi Road, New Delhi
Operational Days: May 25 to May 2