13, Oct 2023
NBC Bearings Partners with FOGTEC to Provide Fire Detection and Suppression Systems to Indian Railways
India, 13th October 2023: National Engineering Industries Ltd. (NEI) – part of the US$ 2.8 billion CK Birla Group and manufacturer of NBC brand of bearings, India’s leading bearings manufacturer, and exporter, has collaborated with FOGTEC Fire Protection Pvt. Ltd, to supply the Fire Detection System and Fire Suppression System used in Indian Railways. NEI will oversee FOGTEC’s product promotion, supply, installation, commissioning, and post-sales service for the Indian Railways. Through this partnership, NEI is diversifying its product portfolio beyond bearings.
As part of its collaboration with FOGTEC, NEI will directly engage with Indian Railways through its dedicated team. This collaboration will further help Indian Railways to enhance the safety and security of its customers while bringing in new, innovative, reliable & global solutions at competitive prices.
Speaking on the collaboration, Rohit Saboo, President & CEO, National Engineering Industries Ltd. (NEI) said, “We are very excited to partner with FOGTEC Fire Protection Pvt. Ltd to further strengthen our relationship with the Indian Railways now with the distribution of Fire Detection and Suppression Systems. FOGTEC is one of the leading OEMs for Fire Detection Systems and Fire Suppression Systems and NEI has been catering to the Indian Railway for more than 7 decades now”.
“This partnership aligns with the Indian railway’s focus on enhancing safety and security, and NEI’s vast experience, market reach, and customer-centric approach combined with the innovative and reliable products of FOGTEC will support customer expectations. We are certain that NEI’s foray into Non-Bearing areas will help FOGTEC benefit in terms of new & increased business volumes and deep penetration in Indian Railway segment”, he added.
Roger – A. Dirksmeier, Managing Director – Rail Systems and member of the board at FOGTEC, said, “We are delighted to partner with NEI, a company with a notable seven-decade track record of serving the Indian Railways. We are sure that NEI’s experience makes them an excellent partner for us to navigate and thrive in this market together. We look forward to serving the Indian Railways in collaboration with NEI. Our own long-term and sustainable planning fits well with the philosophy of our new partner and will increase our presence and availability in the Indian market significantly.”.
The collaboration was announced at IREE 2023 in the presence of the German embassy to India, represented by Mr. Alexander Reck, Head of Digital & Transport at the German Embassy.
- 0
- By Rabindra
13, Oct 2023
Delivering Good Luck Charms – Porter launches new ad campaign for the cricket season
October 2023: With the cricket excitement pouring in, cricket lovers all across the country are rising up to support the Indian team. Porter, India’s premier tech-based, on-demand logistics company, is kick-starting the launch of its campaign to celebrate this love, passion, and unwavering support. To be streamed on digital platforms during India’s games, the campaign comprises three fun ad films that highlight Porter’s relentless commitment to ensuring seamless, efficient, and affordable deliveries.
An ode to the cricket fans of India, these films reflect the lucky beliefs of the cricket fanatics as beacons of hope and a mark of support to the Indian cricket champions to keep them going. From a lucky bucket to a lucky t-shirt to lucky mascots, the films also highlight how Porter delivery partners aid the timely delivery of anything, anytime and anywhere, helping fans support their team.
The first film, ‘Bucketasana’, highlights a cricket fan’s desire to perform his lucky pose to help the Indian team strike a sixer and Porter’s support in delivering the perfect bucket to help him do the upside-down lucky pose. The second film, ‘Lucky T-shirt?’, shows a Porter driver-partner delivering a lucky tattered t-shirt to a cricket fan from their home. Along with two other friends wearing similar lucky t-shirts, he puts on his t-shirt and watches the match while cheering through the winning moments. The last film, ‘Lucky Charm’, showcases Porter driver-partners as the lucky charm for the match for a shopkeeper. Everyone gathers at the shop to watch the match and is elated by a sixer hit, thanks to the good luck brought along by the driver-partners.
Featuring Biswapati Sarkar, Nikhil Ratnapakhi and Narendra Khatri, and conceptualised by Punt Creative, the campaign aims to reach the high-spirited cricket lovers of the country far and wide. Along with online streaming platforms, the campaign will be leveraged on other digital platforms, and through radio and OOH as well, creating a 360° approach.
Speaking on the campaign, Mohit Rathi, VP, Customer Growth & Engagement, Porter said, “As India gears up to host one of the most important events in international cricket, this is the time for cricket fans all across the nation to rise up in support of our team. Through this campaign, we want to highlight how Porter can be a part of billions of fans’ match day excitement and deliver smiles and good luck. The campaign showcases our commitment to delivering anything, anytime and anywhere – the assurance that Porter hai, hojayega. We hope this resonates with the viewers and inspires them to stick to their own special rituals.”
Talking about the campaign, Drishti, Copy Supervisor, Punt Creative said, “The World Cup is an exciting opportunity for any brand to generate brand love. To do that for Porter, we had two motivations: the first being Porter’s commitment to deliver anything, anywhere, anytime that gave us a chance to let our thoughts run wild, and the second, the real stories of cricket fans that would help us stand out amidst the many ads played during the break. Owing to the format, each film was written with the short duration in mind, based on a deep-rooted insight that came from knowing, observing or being fans of the sport ourselves.”
The company’s first advertising campaign, “Delivery Hai? HoJayega,” launched in August 2022. In March 2023, Porter unveiled its most recent social media brand campaign, “House shifting hai? HoJayega,” emphasising the breadth of services it offers for packers and movers. Porter additionally introduced its new logo as a part of a brand refresh initiative to update the brand identity.
13, Oct 2023
5 Breakthrough Artists from MTV Hustle’s Previous Season
India’s first-ever rap reality television show “MTV Hustle” is known as the forging ground for extraordinary talent, giving aspiring artists a platform to showcase their skills and hustle their way to the top. Over the seasons, we’ve witnessed remarkable contestants rise to fame and influencer desi hip-hop and pop culture as we see it. As we wait for the newest season – MTV’s Hustle 03 Represent, let’s take a look at five of the most memorable hustlers who made their mark!
Panther – Panther, is a versatile Rapper, Lyricist, and Music Composer who left an indelible mark on MTV Hustle 2.0 with his diverse musical prowess. Renowned for his hard-hitting punchlines, Panther conquered the stage and brought the beats of hip-hop to a remote UP lad reshaped the music landscape with his desi hip-hop beats
Paradox – Paradox, the incredible hip-hop artist from MTV Hustle 2.0, is making waves in the music industry. After his ‘Hustle’ journey, he joined forces with renowned DJs and producers, creating pathbreaking desi hip-hop. Paradox’s viral videos and unique soundscapes have earned him a loyal nationwide fanbase, and he’s now a sought-after performer at music festivals.
Gravity – Gravity, a multifaceted artist, seamlessly blends the roles of rapper, songwriter, stage performer, and a member of – Bombay Lokal, an award-winning hip-hop collective of Mumbai. His musical journey commenced in his early years, cultivating a passion for rap that led him to start penning tracks during his school days. During MTV Hustle 2.0, Gravity’s groundbreaking performance astonished judge Badshah, who hailed him as a ‘legend’ for his outstanding performances.
Srushti Tawade – Srushti Tawade aka Chhota Don, the sensational artist from MTV Hustle 2.0, broke the internet with songs like ‘Main Nahi Toh Kaun’ and Chill Kinda Guy and since then has continued to use her powerful words to spark change. ST’s socially conscious performances have garnered her recognition all over the country.
MC Square – MC Square, the winner of MTV Hustle 2.0 is known for pouring his heart out in his dialect with songs like Ram Ram and Badmos Chora which resonated with the audiences. After his time in MTV’s Hustle, he then created upbeat music like Sher from Selfiee. He strongly believes in preserving and promoting his culture with his music.
13, Oct 2023
BTEA set to position Bahrain as a Premier Global Tourist Destination with Manama declared as the 2024 GCC Tourism Capital
India, 13th October 2023 – The Bahrain Tourism and Exhibitions Authority (BTEA) is set to announce a series of groundbreaking initiatives aimed at solidifying Bahrain’s position as a premier global tourist destination. The declaration follows Bahrain’s remarkable achievement in Manama being chosen as the capital of Gulf tourism for the year 2024 during the 7th meeting of the ministers responsible for tourism in the Gulf Cooperation Council (GCC) countries.
The prestigious designation of “Manama” as the capital of Gulf tourism for 2024 is a testament to Bahrain’s exceptional contributions to the growth of Gulf tourism sector. The Kingdom of Bahrain’s foresight in recognizing tourism’s potential as a vital sector capable of driving economic growth and ensuring sustainable development played a pivotal role in securing this honour. Bahrain is committed to nurturing a thriving and dynamically expanding tourism sector, with the aim of not only enhancing its reputation as a prominent hub for regional and international tourists but also fostering stronger tourism cooperation within the GCC region.
Dr. Nasser Ali Qaedi, CEO, Bahrain Tourism and Exhibitions Authority (BTEA) said, “We take immense pride in this achievement in the Kingdom’s tourism sector, which stands as a testament to a series of successful tourism endeavors at local, regional, and international levels. The Kingdom has positioned the tourism sector at the forefront of its developmental agenda. This strategic position acknowledges the sector’s pivotal role in driving sustainable development. Under this vision, substantial investments have been channeled into expanding tourism infrastructure, refining tourism services, and establishing high-quality facilities. These endeavors are aimed at attracting a greater influx of tourists worldwide.”
Dr. Qaedi added, “Collaborating closely with its public and private sector partners, BTEA persistently crafts success stories, aiming to fulfill the ambitious tourism goals outlined in the 2022-2026 strategy. This intensive effort has transformed Bahrain into a beacon of adaptability, diversity, and consistent tourism growth within a remarkably brief timeframe. This achievement was evident last year when the Kingdom welcomed approximately 10 million tourists, surpassing the targeted numbers by an impressive 20%. We assure our GCC visitors of an exceptional tourism year ahead. Anticipate the launch of several high-quality tourism initiatives and an array of exclusive travel packages tailored for GCC citizens and residents; these offerings are meticulously designed to attract a broader audience, enhancing tourism appeal across all sectors.”
The Kingdom of Bahrain has always been a gem of the Arabian Gulf, offering a blend of rich history, vibrant culture, and stunning natural beauty. With this recent recognition, Bahrain aims to draw the attention of tourists from around the world and to embark on a journey filled with unique experiences, warm hospitality, and unforgettable memories.
13, Oct 2023
OTTplay Premium and STAGE Collaborate to Redefine Regional Streaming in India
India, 13th October, 2023 – OTTplay Premium, India’s premier AI-powered streaming, recommendation, and content discovery platform, is excited to announce a strategic partnership with STAGE, the pioneering dialect-based streaming platform. This collaboration marks a significant step forward in delivering diverse and authentic regional content to Indian audiences.
STAGE, the world’s first dialect-based streaming platform, boasts an impressive library of over 250 original films and series spanning various genres. With a focus on Haryanvi and Rajasthani dialects, STAGE brings forth a unique entertainment experience that resonates deeply with the rich cultural diversity of India.
The partnership between OTTplay Premium and STAGE is set to enhance the streaming landscape in India by combining cutting-edge technology and localized content. OTTplay Premium, known for its AI-driven recommendations and content discovery capabilities, will seamlessly integrate STAGE’s dialect-based content into its platform, making it easily accessible to a wider audience.
Avinash Mudaliar, CEO and Co-founder of OTTplay, commented on the partnership, saying, “We are thrilled to join forces with STAGE in our shared mission to bring diverse, regional content to the forefront of India’s streaming industry. This collaboration not only enriches the content offerings on OTTplay Premium but also celebrates the linguistic and cultural diversity of our country. Our AI algorithms will ensure that users discover STAGE’s compelling content, creating a personalized and engaging experience for our viewers.”
Vinay Singhal, Co-founder and CEO of STAGE, expressed his enthusiasm, stating, “Dialects in India changes after every 8 kms or so. Up until now people only had Hindi content at their disposal where the cultural values and milieu are missing. STAGE makes content for aspiring Bharat and enables them to take pride in their culture and dialect. Partnership with OTTPlay will allow STAGE to take its content and mission to a wider set of audiences. “Kyonki Boli Mein Apnapan Hai”
OTTplay Premium and STAGE share a common vision of democratizing content access while championing the rich tapestry of regional languages and cultures in India. This partnership aligns perfectly with their shared commitment to offering a diverse and enriching streaming experience for viewers across the country.
As India’s digital entertainment landscape continues to evolve, OTTplay Premium and STAGE are excited to be at the forefront of this transformation. Together, they are poised to revolutionize the way Indian audiences engage with regional content, fostering cultural pride and diversity through the power of streaming.
13, Oct 2023
PE Investments in Indian RE Register Decline of around 12 Percent in 1H FY24 – ANAROCK Capital
Mumbai, 13 October 2023: The average ticket size of private equity investments into the Indian real estate sector has increased to USD 117 Mn in 1H FY24, from USD 100 Mn in 1H FY23, finds the ANAROCK Capital report FLUX – 1H FY24.
Shobhit Agarwal, MD & CEO – ANAROCK Capital, says, “This is largely due to a large deal in which Brookfield India Real Estate Trust REIT and Singapore’s sovereign wealth fund GIC together acquired 2 commercial assets – one in Mumbai and other at Gurugram (NCR), from Brookfield Asset Management with an enterprise value of USD 1.4 Bn.”
All transactions in USD ($) unless otherwise stated; Numbers rounded off to the nearest decimal; FY = Financial Year (1st April – 31st March)
Top 10 PE Deals in 1H FY24
Overall activity remained muted with headline numbers boosted by this large single deal, with assets across locations. The top 10 deals accounted for 95% of the total value of PE investments in 1H FY24 as compared to 81% in 1H FY23.
Office assets dominated large ticket equity investments in 1H FY24. This can be attributed towards continued preference by investors in Grade-A office assets with quality tenants.
Data centres are emerging as a new asset class for investment with a value of USD 73 Mn.
Residential RE continued as an attractive destination for debt investments in 1H FY24.
All transactions in USD ($) unless otherwise stated; Numbers rounded off to the nearest integer; FY = Financial Year (1st April – 31st March)
Equity vs Debt Funding
Equity investments continue to be the preferred route by investor, as evidenced from the fact that equity’s share continues to be a healthy at 89%.
FY = Financial Year (1st April – 31st March)
Domestic vs Foreign Funding
Domestic investments increased by 9% (USD 274 Mn) of the total PE capital inflows into Indian RE in 1H FY24, as compared to USD 252 Mn in 1H FY23. The share of foreign investments in 1H FY24 have dropped to 88% as compared to 91% in 1H FY23.
Movement of Capital Flow
Multi-city transactions have increased sharply during 1H FY24, dominated by the Brookfield India REIT & GIC transaction. MMR led the transaction league tables in city-specific transactions, with the city reporting investments of USD 543 Mn in 1H FY24, compared to USD 307 Mn in 1H FY23.
Asset Class-wise Funding
The commercial RE sector has witnessed an increase in capital inflows via PE investments, accounting for a 78% share of investments received in 1H FY24, as compared to 56% in 1H FY23
Data centres are emerging as a new asset class for investment with a value of USD 73 Mn.
Key Takeaways
Residential:
“Led by luxury housing sales, demand for residential real estate continued to post robust volumes,” says Agarwal. “The momentum in residential sales has sustained even as an inflationary environment forced the RBI to push up the Repo Rate to 6.5% earlier this year – a level not exceeded since 2016. The underlying fabric of the market remains skewed towards the mid and premium segments constituting the bulk of sales, while the affordable segment witnessed a decline in volume.”
Supply continued to ramp up during the period, and prices continued to rise despite inflation and elevated interest rates.
“The underlying demand remains strong to the backdrop of a robust economy. We expect the current demand trends to sustain in the foreseeable future with volumes expected to hit a new decadal high in CY23. We expect the larger, organised players to continue to account for an increasing share in line with the prevailing consolidation underway in the sector.”
Office:
While 1H FY24 has seen overall muted activity, the second half of the period saw some stability with good traction in Bengaluru, Hyderabad & Chennai. The revival was led chiefly by the technology & manufacturing sectors.
Owing to weak demand in preceding quarters, landlords have deferred completions, negatively impacting fresh supplies.
Rentals have firmed up for Bengaluru & Hyderabad, while remaining stable for other cities.
Vacancies remained elevated for Gurugram, Noida & Hyderabad, while it remained low for Bengaluru & Pune.
Vacancies remain elevated as companies optimize for hybrid model strategy and consolidate space requirements.
The outlook for second half is stable to strong, backed by demand from return to office.
Retail:
Many international brands like Roberto Cavalli, Foot Locker, Lavazza, Armani Caffe, Jamba and The Coffee Club among many others have announced plans to set up outlets in India.
Domestic retail operator’s sales have also been strong with healthy growth in demand coming from Tier II and Tier III cities.
Mall operators are also looking to grow their asset base, looking to cash in on the industry growth.
The deal street in the retail sector remains buoyant, with several marquee transactions like Qatar Investment Authority and KKR’s investments in Reliance Retail, ChrysCapital’s investment in Lenskart, among others, reported
The overall outlook for the retail industry is buoyant as consumer spending continues to rise.
Warehousing:
Demand for warehousing continues to be strong as tenants are seen leaving non-compliant facilities and migrating to facilities which are compliant in all respects. Tenants are also looking to improve utilization of cubic space instead of just the floor space.
Major sectors driving demand are 3PL, retail, FMCG and automobiles even as demand from e-commerce remains muted.
A steady rise in demand has led to steady supply creation. There are cyclical spurts where the supply surpasses the demand leading to double digit vacancies, but as the balance is restored the vacancy comes to a normally acceptable tolerance level.
Rising input costs have also led to a rise in rentals. Some vacancy is healthy for developers as very often they get a rental premium when catering to an immediate demand.
Developer funds are actively looking at Tier II cities and state capitals like Ludhiana, Rajpura, Lucknow, Bhubaneshwar, Patna, Nagpur, Coimbatore, Cochin.
12, Oct 2023
Tata Tea Gold’s ode to West Bengal’s Durga Pujo festivities
A celebration of artistic splendor with Banglar Noksha Pujo Packs
National, October 12, 2023: As the vibrant tapestry of West Bengal adorns itself in hues of grandeur to warmly welcome the divine fervor of Durga Pujo, Tata Tea Gold, West Bengal’s favorite tea brand, joyously celebrates this festival with the launch of 10 festive packs inspired from the handloom styles of the state. Durga Pujo is a time when West Bengal is at its colorful best. This heralds a time for the women to adorn themselves with new sarees, selected from a wide array of exquisite traditional handloom and textile creations. This festive ode to the handloom heritage was the inspiration for Tata Tea Gold’s festive series Banglar Noksha Pujo packaging. The Tata Tea Gold festive packs are inspired by 5 handloom styles: Kantha, Jamdani, Baluchari, Batik, and Garad.
Tata Tea Gold has also unveiled a specially crafted film, developed by Media Monks, that beautifully captures how Pujo is celebrated across the five days from Shashthi to Dashami. Each celebration has been depicted in the style of West Bengal’s rich handloom culture. The story unfolds with a curious child observing the similarity between the design of a Tata Tea Gold Jamdani-inspired pack and her mother’s Jamdani saree. Soon, a captivating conversation takes place between the two, narrating about Durga Pujo celebrations, basking in the iconic handloom artistry of the region. The film along with a captivating song, brings to life some of the celebratory rituals intricately illustrated on the festive packs.
The film weaves a rich narrative of West Bengal’s pride and celebrations, from the traditional conch blowing depicted on the Jamdani-inspired packs to the resounding beats of the Dhaki from the Kantha-inspired packs, the devotee (Pujaran) adorned in a Baluchari saree, the Dhunuchi dancer draped in Batik prints, and the women playing Sindoor Khela dressed in Garad sarees.
Reflecting on the essence of the new Durga Pujo campaign, Puneet Das, President – Packaged Beverages, India & South Asia, Tata Consumer Products, shared, “As one of the most loved tea brands of West Bengal, we take pride in understanding the people and the local culture. As Durga Pujo is celebrated with such exuberance, we decided to pay homage to these festive celebrations through the famous handloom and textile art of West Bengal. We partnered with five well-known master weavers of West Bengal – Mrityunjoy Chakraborty for Kantha, Sahadeb and Shanksha Basak for Jamdani, Amitava Pal for Baluchari, Sukanta Nandy for Batik and Jiban Polisha for Garad to create special festive handloom designs, which served as inspiration for the design of Tata Tea Gold’s festive packs. These limited-edition special packs, steeped in local flavors, mirror the lively spirit of the festival, encapsulating its vibrant hues and energy. The film shows the visual narrative of the Durga Pujo celebration through our packs.”
Arnab Chatterjee, Co-founder, of Tree Design who had conceptualized the design said, “To capture the festive spirit of Durga Pujo, we decided to harness the immense beauty and depth of the textile and handloom weaves available in the state. Wearing new clothes on the days of Pujo is a tradition, which is why we decided to leverage the magic of West Bengal’s handlooms. We worked closely with master weavers going across the length and breadth of West Bengal and harnessed the magic of their craft to capture the festive fervour in the Tata Tea Gold Festive series packs.”
Commenting on the genesis of the campaign and the idea, Azazul Haque, Chief Content Officer, Media Monks said “Durga Pujo for West Bengal is not just a festival, it is an emotion. When Tata Tea Gold designed the special festive packs showcasing the events during the different days of Pujo depicted in the handloom style of West Bengal, the brief for the campaign was simple- Celebrate Durga Pujo through the festive packs. And the film does exactly that. In the film, a mother proudly tells her daughter about the different Handlooms of West Bengal and how they are depicting the celebrations around Durga Pujo. The feeling of Durga Pujo is magical and we have tried to convey the same through this musical, celebratory film.”
12, Oct 2023
Filmfare Spotlights Gujarat’s Cinematic Potential
Inaugural Filmmaker’s Round Table Unveils Wealth of Opportunities for Cinematic Production in Vibrant Gujarat
National, October 12, 2023:
For over seven decades, Filmfare has been chronicling remarkable accomplishments and milestones of the Indian Film Industry. The Platform continues to lead the way in honouring cinematic and artistic brilliance. For the 69th edition of the Filmfare Awards, which is scheduled to be held on January 2024, Filmfare takes the celebrations to the Vibrant State of Gujarat. One of the core objectives of this partnership seeks to establish Gujarat as a global centre for tourism, investment, and a thriving hub for cinematic production.
The inaugural Filmmakers’ Round Table took place at the Taj Lands End in Mumbai on October 11th where the event served as a significant precursor to the prestigious Filmfare awards. Spearheaded by Mr. Vineet Jain, the Managing Director of The Times Group, Filmfare played a pivotal role in fostering the growth of the Indian film industry. It achieved this by convening a distinguished panel of attendees.
Leading this high-profile gathering was the Honourable Chief Minister of Gujarat, Shri. Bhupendrabhai Patel, who headed a high-powered delegation from the Gujarat Government. Accompanying him was the Honourable Minister of Tourism of Gujarat, Shri Mulubhai Bera, as well as other key policymakers and officials from the Government of Gujarat.
The film & entertainment industry was well-represented, with prolific filmmakers such as Imtiaz Ali, Aanand L. Rai, Boney Kapoor, Om Raut, Mukesh Bhatt, R. Balki, Jayantilal Gada, Nitesh Tiwari, Ashwiny Iyer Tiwari, Nikkhil Advani, Ramesh Taurani, Madhur Bhandarkar, Apoorva Mehta, Raj & DK, Harshavardhan Kulkarni, Venky Mysore, Aparna Purohit, Anand Pandit in attendance, among others. The session was deftly moderated by the versatile actor Kubbra Sait, who skillfully guided in-depth discussions that shed light on Gujarat’s comprehensive support systems for filmmakers.
The Round Table event underscored Gujarat’s unwavering commitment to becoming the ultimate destination for filmmaking and film production. This commitment is substantiated by their world-class infrastructure, enticing incentives, and comprehensive cinematic policy.
Shri. Bhupendrabhai Patel, Chief Minister of Gujarat, commented, “Our collaboration with Filmfare signifies Gujarat’s vision to be at the forefront of cinematic excellence, and this Round Table is a significant milestone towards achieving that goal. We are committed to providing the necessary infrastructure, incentives, and support to ensure that Gujarat becomes a preferred destination for filmmakers from across the world.”
Adding on, Shri Mulubhai Bera, Minister of Tourism of Gujarat, said, “Gujarat’s rich cultural heritage and diverse landscapes have always been a source of inspiration for filmmakers. We are excited to partner with Filmfare to promote Gujarat as a thriving hub for cinematic productions. With a welcoming atmosphere, breath-taking locations, and robust support systems, Gujarat offers filmmakers a unique canvas to bring their artistic visions to life.”
Mr. Vineet Jain, Managing Director of The Times Group, commented, “ The Government of Gujarat has been unwavering in its dedication to offer filmmakers the necessary support, infrastructure, and policies. We are proud to be a facilitator in bringing together the entertainment industry and a canvas like Gujarat for painting their stories on.”
12, Oct 2023
FADA Releases H1 FY’24 Vehicle Retail Data
12th October’23, New Delhi: The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for H1 FY’24.
Chart showing All India Vehicle Retail Data for H1 FY’24
| CATEGORY | H1 FY’24 | H1 FY’23 | H1 FY’22 | % Chg (H1’23) | % Chg (H1’22) | H1 FY’21 | % Chg (H1’21) |
| 2W | 78,28,015 | 73,13,930 | 59,14,894 | 7.03% | 32.34% | 47,76,407 | 63.89% |
| 3W | 5,33,353 | 3,21,964 | 1,42,168 | 65.66% | 275.16% | 83,925 | 535.51% |
| CV | 4,65,097 | 4,50,458 | 2,83,562 | 3.25% | 64.02% | 1,25,453 | 270.73% |
| PV | 18,08,311 | 17,02,905 | 13,35,814 | 6.19% | 35.37% | 7,83,333 | 130.85% |
| TRAC | 4,44,340 | 3,89,815 | 3,73,856 | 13.99% | 18.85% | 3,34,648 | 32.78% |
| Total | 1,10,79,116 | 1,01,79,072 | 80,50,294 | 8.84% | 37.62% | 61,03,766 | 81.51% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS & LD.
- Vehicle Retail Data has been collated as on 06.10.23 in collaboration with the Ministry of Road Transport & Highways, Government of India, and has been gathered from 1,352 out of 1,440 RTOs.
H1 FY’24 Retails
Commenting on H1 FY’24 Auto Retails, FADA President, Mr. Manish Raj Singhania said, “As Fiscal Year 2024 unfolded, the auto retail sector in India embarked on a journey of cautious optimism and resilience amidst a mix of obstacles and victories across various vehicle categories. The initial modest 4% decline in April’s overall vehicle retails was not only a reflection of the dynamic nature of the automotive market but also a precursor to a story of gradual recovery and growth that would unfold over the subsequent months, culminating in a robust 20% YoY growth in September.
The narrative of H1 FY’24 is one of resilience and recovery, with the total auto retail registering a 9% growth YoY. All categories also showed YoY growth with 2W, 3W, CV, PV, and Trac growing by 7%, 66%, 3%, 6%, and 14% respectively.
The 3W segment was the undisputed star, with a remarkable 66% YoY growth, consistently registering unparalleled sales figures month after month. Notably, the first half of FY’24 saw the 3W segment retailing a record-breaking 5,33,353 units, significantly outperforming the H1 FY’19 figures of 3,58,187. This extraordinary performance in the 3W category underscores the sector’s vigorous recovery and adaptability in navigating through the complex market challenges presented by the ongoing pandemic.
The PV segment, while having its set of challenges, also showcased a narrative of steady resurgence and growth. It not only grew by 6% YoY but also witnessed record retails, with H1 FY’24 seeing an all-time high in PV retails at 18,08,311, surpassing the previous record set in H1 FY’23 at 17,02,905. This continued growth trajectory of the PV segment for two consecutive fiscal years is a testament to the resilient demand and the market’s positive response to the diverse and dynamic offerings in the segment.
Despite a slowdown in the last month, Tractor sales have not been left behind in this growth narrative. The first half of FY’24 witnessed record-breaking retails of 4,44,340 units, reflecting a substantial 20% YoY growth. This performance not only indicates a strong market demand but also surpasses the sales figures of H1 FY’23, which stood at 3,89,815.
The CV sector experienced robust sales, registering 4,65,097 units, only second to its record in H1 FY’19 with 4,72,492 units. However, the 2W segment is under stress, still far from its H1 FY’19 peak of 97,27,200 units, reflecting the diverse challenges and successes within India’s auto retail sector.
With the festive season on the horizon, bringing with it a promise of renewed consumer interest and potential demand surge, the Federation of Automobile Dealers Associations (FADA) anticipates a season of growth and prosperity for the auto retail sector, moving from cautious optimism to a hopeful and positive outlook for the market.”
12, Oct 2023
XLRI Jamshedpur Celebrates its Platinum Jubilee, Marking 75 Years of Excellence & Nation Building
Jamshedpur, India – 12 October 2023 – XLRI Jamshedpur, one of India’s premier management institutes, is delighted to announce the commencement of its Platinum Jubilee Celebration, marking a significant milestone of 75 years of nurturing talent, building leaders, fostering change, and leaving an indelible mark on the world. Since its inception in 1949, XLRI has been at the forefront of producing visionary leaders and fostering innovation in the field of management. The Platinum Jubilee Celebration, spanning from October 11, 2023, to October 10, 2024, is a testament to the institute’s unwavering commitment to nurturing future leaders and making a lasting impact on the business world.
The grand inauguration of XLRI Platinum Jubilee Year was on October 11, 2023, in the Tata Auditorium, at XLRI Jamshedpur campus. The event featured Shri C.P. Radhakrishnan, the Honourable Governor of Jharkhand as the Chief Guest for the event. He was bestowed with the prestigious “XLRI Platinum Jubilee Award for The Greater Good.” This esteemed award was presented by the Director and Chairman of XLRI, recognizing Shri C. P. Radhakrishnan’s outstanding contributions to society and his unwavering dedication to public service. The presentation of this award was a momentous highlight of the event, symbolizing XLRI’s deep appreciation for individuals who lead by example and work tirelessly for the betterment of the community.
Alongside Shri C.P Radhakrishnan, present on the dais were Director – Fr S George SJ, Chairman – TV Narendran, Dean of Administration & Finance – Fr Donald D’Silva SJ, and the Dean of Academics – Prof. Sanjay Patro. The event was also attended by the XLRI faculty members, staff members, alumni network, and the entire vibrant student fraternity. Their participation exemplified the unity and shared commitment that defines the XLRI community. It was a testament to the strong bond that binds XLRI and its extended family, all sharing in the celebration of 75 years of excellence in management education.
During the event, the Honourable Governor, Shri C. P. Radhakrishnan, shared his insights and inspiration with the XLRI community. He stated, “XLRI is a significant milestone in Indian education and stands as a beacon of management education. XLRI is outstanding in nurturing leaders and making an indelible mark on society. Tata, one of the most ethical companies globally, is praised for its leadership and commitment to helping during crises like the Mumbai terrorist attack.
Real leadership involves taking risks and being socially responsible, which was a key lesson from my business administration studies. Tata’s commitment to solving problems in various sectors, including electricity in Mumbai, is a testament to its strong ethics. We should be dedicated and involved in our pursuits, much like XLRI’s success story. Addressing the disparity between natural resources and living conditions is a global issue, and political leadership should focus on utilizing resources for economic growth and improving living standards.” His words resonated deeply with all those in attendance, reaffirming the significance of XLRI’s mission and the enduring impact of education on society.
In a moment of great significance, the Chief Guest, Shri C. P. Radhakrishnan, also had the honor of laying the Foundation Stone for the Scholars Residence at XLRI Jamshedpur during the event. This act marked the commencement of a new chapter in XLRI’s journey, reflecting its commitment to providing exceptional accommodation and facilities for its scholars. The Foundation Stone laying ceremony was a symbol of progress, growth, and the institute’s dedication to nurturing future leaders in an environment conducive to learning and excellence.
Fr. S George SJ, Director of XLRI, expressed his enthusiasm for the Platinum Jubilee Celebration, saying, “XLRI has been a beacon of excellence in management education for 75 years. As we embark on this historic journey, we look forward to celebrating our rich legacy, engaging with our global community, and charting a course for the future that is even more remarkable.”
Prof. Sanjay Patro, Dean (Academics) delivered the vote of thanks and said, “The Platinum Jubilee Celebration will be a year-long extravaganza, featuring a series of events and initiatives that reflect XLRI’s rich heritage, commitment to excellence, and its vision for the future. Highlights of the celebration include the Doctoral Colloquium, POMS India International Conference, International Conference on Ethics, Industrial Relations Conference, and 2 Corporate Conclaves.”
| XLRI – The 1st Business School of India, Established in 1949
1949: Jesuits of the Society of Jesus started XLRI by appointing Fr Q Enright SJ as its 1st Director. 1953: Commenced PGDM in HRM, formerly known as PMIR & PG Diploma in Industrial Relations & Social Welfare. 1956: Tata Steel offered land to XLRI to begin its independent campus at CH Area, Jamshedpur. 1962: XLRI Jamshedpur Campus was inaugurated. 1968: Commenced Postgraduate Diploma in Business Management Program 1969: 1st Indian B-School to introduce “Business Ethics” as a mandatory core course. 1987: XLRI established Xavier Institute of Management, Bhubaneswar (XIMB) 1988: Commenced Fellow Programme in Management 1997: India’s 1st full-time General Management Program for working executives was launched. 2000: 3-year Executive Postgraduate Programme in Business Management was introduced. 2002: 1st Indian B-School to provide management education using satellite connectivity through its VIL programmes. 2006: 1st Indian B-School to introduce a mandatory course on Sustainability 2007: 1st Indian B-School to sign the UN Global Compact’s PRME 2015: Accredited by AMBA, reaccredited in 2020. 2016: Accredited by AACSB, reaccredited in 2021. 2017: Expansion of XLRI began with XLRI acquiring land in Delhi NCR, Neral Mumbai & Amaravati, AP. 2021: Established Centre for Gender Equality & Inclusive Leadership. 2023-2024: XLRI Celebrates Platinum Jubilee. |
