4, Jan 2024
Zuari Farmhub Launches Revolutionary Nano Fertilizers
Bengaluru, 4 January 2024: – Zuari Farmhub Ltd, a leading agricultural solutions provider, today unveiled its nano fertilizers in the form of Nano Shakti Nano Urea and Nano Shakti Nano DAP. ZFHL has received an approval for manufacturing nano fertilisers such as Nano Urea and Nano DAP from the Govt. of India, vide Gazette of India notification dated 29th November, 2023. These nano fertilisers are designed to boost crop yields and improve soil health.
Zuari Farmhub has developed the nano fertilisers in collaboration with The Energy and Research Institute (TERI) using cutting-edge green nano bio-technology. Nano fertilisers are nano-sized nutrient particles that are readily absorbed by plants, leading to superior nutrient utilization and reduced wastage.
Compared to conventional fertilizers, these advanced fertilizers offer several compelling advantages:
• Enhanced Nutrient Uptake: Nano-sized particles effortlessly penetrate plant cell walls, ensuring faster and more efficient nutrient delivery, leading to healthier and more productive crops.
• Increased Crop Yields: Improved nutrient uptake translates to demonstrably higher crop yields, empowering farmers to maximize their output and income.
• There are no chances for fertiliser runoffs into nearby water sources hence avoiding adverse health and environmental impact.
• Reduced Fertilizer Usage: Nano fertilizers require significantly less application compared to traditional fertilizers, leading to substantial cost savings for farmers and a reduced environmental footprint.
Marketing a Revolutionary Technology:
These Nano fertilisers will be exclusively marketed by Paradeep Phosphates Ltd (PPL) under the brand name of Jai Kisaan Navratna Nano Shakti. This move will ensure widespread accessibility of this technology to farmers throughout the country.
A Green Collaboration for a Sustainable Future:
“The development of nano fertilizers is a testament to the transformative power of green nano bio-technology. TERI’s expertise in this field, coupled with Zuari Farmhub’s commitment to sustainable agriculture, has resulted in a technology that can revolutionize Indian agriculture. This collaboration represents a significant step towards a greener future for the agri inputs industry” said Mr. Madan Pandey , MD of ZFHL
The launch of Zuari Farmhub’s nano fertilizers is a pivotal moment for Indian agriculture. With its potential to enhance yields, this technology has the power to create a more prosperous and sustainable future for farmers and the nation as a whole.
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- By Rabindra
4, Jan 2024
Amber Group company ILJIN acquires 60% stake in Ascent Circuits Pvt. Ltd.
New Delhi, 04 January 2023: The Amber Group, a home-grown manufacturing major, and a diversified B2B electronic manufacturing services (EMS) company, has today entered into definitive agreements with Ascent Circuits Pvt. Ltd (“Ascent”) to acquire 60% stake in Ascent. The acquisition has been affected through ILJIN Electronics, a part of Amber Group company.
Ascent Circuits, a South India based home-grown company is a leading player engaged in the manufacturing of Printed Circuit Boards (Single-sided, double-sided, multi-layered and RF PCB) catering to marquee customers such as ISRO, BEL, BHEL, Automotive, Telecom, Consumer Electronics clients both multinational & domestic. The company provides solutions for various applications such as Aerospace & Defence, Medical, Energy Solutions, Automotive, Telecom, Data Centres, Consumer Electronics, IT, Lighting etc. The company also exports its products to global markets.
This acquisition will help Amber strengthen its EMS portfolio by increasing its local value addition and backward integration into passive components of PCB Assemblies. This is in sync with the ‘Make in India’ and ‘Atmanirbhar Bharat’ vision of the Government of India and is in line with the group’s strategy of strengthening backward integration for its electronics (EMS) play into various applications such as Aerospace & Defence, Medical, Telecom, Consumer Electronics and Automotive.
Enthused by the Government’s encouraging policy framework for domestic manufacturing, Amber plans to expand its portfolio in the electronics (EMS) space by further strengthening its R&D and PCBA manufacturing capabilities through backward integration of Bare PCB Boards. This uniquely positions Amber as a leading player in the electronics EMS space even as the sector is poised for double-digit growth in FY’25 and beyond.
The Amber Group, a diversified manufacturing major operates across three business verticals spanning consumer durables, EMS and Railway subsystems and mobility. While the consumer durables vertical comprises RAC (room AC) finished goods, room AC components including motors and non-room AC components, the EMS business (ILJIN Electronics & EVER Electronics) delivers solutions in telecom, automotive, smart energy meters, consumer electronics and appliances, hearables and wearables. Another important vertical for the group pertains to Railway sub systems & mobility. Amber provides integrated solutions to rolling stock customers for HVAC, Doors, Gangways, and Pantry Systems catering to the mobility sector, namely Indian Railways, Metro, RRTS and also buses. Besides this, it also provides solutions in the segment of Defence.
4, Jan 2024
Iex Power Market Update, December’23
Bengaluru, 04 January 2024: Indian Energy Exchange, India’s premier energy exchange, achieved 9,707 MU overall volume in December’23, including 10.52 Lac Renewable Energy Certificates (RECs) (equivalent to 1052 MU), marking a 14.9% increase on YoY basis. IEX achieved 8,655 MU total electricity volume in December 2023, registering an increase of 8.7% on YoY basis.
For the third quarter of the fiscal year 2024, IEX achieved 28,326 MU overall volume, registering an increase of 16.9% YoY basis.
According to government data published in December ’23, the country’s energy consumption remained flattish at 119.07 BUs.
The Market Clearing Price in the Day Ahead Market for the month was Rs. 4.54/unit, marking a 13% YoY decrease. With favourable Policy and Regulatory interventions, the sell bids on the exchange (Day Ahead Market plus Real Time Market) during the month increased by 18% on YoY. Going forward, the sell liquidity is expected to further improve, leading to a decline in power prices on the Exchanges. This will present an opportunity for Discoms and Industrial consumers to optimize their power procurement costs.
ELECTRICITY MARKET: DAY- AHEAD, TERM- AHEAD & REAL-TIME MARKET
The Day-Ahead Market (DAM) volume was at 4,798 MU in December ’23, as compared to 5,001 MU in December ’22. The DAM segment registered total volumes of 14,684 MU during Q3 FY ’24, a marginal increase of 1.5% over Q3 FY ’23.
The Real-Time Electricity Market (RTM) volume increased to 2,405 MU in December ‘23, from 1,763 MU in December’22, registering an increase of 36.4 % YoY. The RTM segment registered volume of 7,166 MU during Q3 FY ’24, increasing 31.9% over Q3 FY ’23.
Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily & weekly and monthly contracts up to 3 months, traded 1,220 MU during December ’23, higher by 48.4% on YoY basis. The total volume on the segment during the quarter was 3,810 MU, growth of 91.4% over Q3 FY’23.
*PowerX is the price index of Indian Energy Exchange (IEX) and is calculated based on weighted average price of Day-Ahead Market and Real-Time Market discovered for the previous day delivery.
GREEN MARKET: GREEN DAY-AHEAD & GREEN TERM-AHEAD MARKET
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 232 MU volume during December’23. During Q3FY24, the segment achieved volume of 609 MU.
The Green Day-Ahead Market (G-DAM) achieved 216.6 MU volume during the month, with a weighted average price of Rs 4.86 per unit. The segment saw participation from 187 market participants during the month. During Q3FY24, the segment achieved volume of 579.6 MU.
The Green Term-Ahead Market (G-TAM) achieved 15.4 MU volume in December ‘23, with average monthly price of Non-Solar- Rs 6.08/unit. During Q3FY24, the segment achieved volume of 29.9 MU.
RENEWABLE ENERGY CERTIFICATE MARKET (REC MARKET)
A total of 10.52 lac RECs (equivalent to 1052 MU) were traded in the trading sessions held on 13th December ’23 and 27th December’23, at a clearing price of Rs. 370/REC and Rs. 360/REC respectively. REC traded volume in December’23 increased by 115.9% on YoY basis. A total of 20.24 lac RECs (equivalent to 2,024 MU) were traded during Q3 FY’24.
4, Jan 2024
AOC launches G4 series gaming monitors in the Middle East
Dubai, UAE – 4th January 2024 – AOC the world’s leading display solution provider, announces the launch of AOC Gaming monitors – 24G4 and 27G4. The new G4 series gaming monitors are made with a fast IPS panel, 24G4 is a 23.8-inch monitor, on the other hand the 27G4 is a 27-inch monitor. Both models are equipped with Adaptive-Sync technology, guaranteeing its users an unbeatable gaming experience with 1ms (GTG) response time and 180 Hz refresh rate. The HDR10 feature captivates visual quality and raises the gaming performance to the next level! Gamers can experience an ultra-smooth gaming experience with this AOC monitor.
Carol Anne Dias, Deputy Sales Director, Middle East & Africa (AOC Monitors) said that “The purpose of technology is to drive human progress, and in AOC we are keen to deliver the products that meets users’ expectations, so we designed 180Hz gaming monitors, that enables the users to experience a display which is comfortable and with an outstanding view, while the forefront of smoother experience is the core of our products”
For AOC it is of supreme importance to manufacture products of highest quality, and ensure the products are equipped with high resolution and multiple connectivity options. The aim is to deliver products as per the preferences of modern gamers.
Rule the Competition with Fast IPS
Fast IPS annihilates the competition with a speed 4x faster than conventional IPS. Guaranteeing the user true 1ms (GTG) response times and captivating visual quality, raise your gaming performance to the next level!
The e-sports professional standard for gaming
With a 180Hz refresh rate and 1ms response time, the display is equipped to perform at the pro gaming standard. Enjoy an ultra-smooth experience with no visible screen blur to ensure you’re always prepped to win.
A universally respected anti-tearing solution
Get fluid, artifact-free performance at virtually any framerate with Adaptive-Sync technology, smooth quick refresh and ultra-fast response time.
Illuminate your visuals
Enjoy an immersive visual experience with HDR10, the industry-standard high dynamic range for delivering a rich palette of colors, brightness, and contrast that far exceeds the capabilities of ordinary monitors.
Bringing depth to your colors
AOC Super Color technology enlivens the viewing experience with more passionate reds, enchanting greens and soothing blues. With this hardware solution, the user can enjoy better color accuracy and true-to-life color reproduction in photos, videos and more.
Connecting your eyes with your hands
Unleash your reflexes by switching to AOC Low Input Lag mode. Forget graphical frills: this mode rewires the monitor in favor of raw response time, giving you the ultimate edge in a hair-trigger standoff.
Protect your eyes from screen flicker
Flicker-free technology reduces flicker to give you a more comfortable gaming experience. AOC flicker-free technology provides a more comfortable and healthier viewing experience, minimizing the effects of eye fatigue during long, intense gaming sessions!
Reducing shortwave blue light output for healthier eyes
Low Blue Mode setting ensures a healthier viewing experience for prolonged computer use without compromising the naturally vivid colors of the display.
Connectable with other devices
The monitor provides convenient connectivity options, with both HDMI and DisplayPort support to suit both professionals and home users.
Carol concludes: “Building a new generation of upgraded products requires the best creative and smart infrastructure; in AOC we depend on our R&D results adding the globe trends & needs that help us deploy a custom cluster much more quickly than other producers could have, we pursue our work to create advanced products with much stronger reasoning abilities.”
The models are available in UAE with SDC FZE, 24G4 comes with RRP of AED 649 and 27G4 with RRP of AED 749. In Saudi Arabia it is available with Ibdaa Al Mohammadiya International Trading Company, 24G4 comes with RRP of SAR 749 and 27G4 with SAR of 899. The models will be available in Egypt with the distributor Quality Durable Systems (QDS). All AOC monitors come with 3 years of warranty.
4, Jan 2024
Honda Motorcycle & Scooter India closes Year 2023 with 43,84,559 unit sales
Gurugram, January 4, 2024: Ending the year on a positive note, Honda Motorcycle & Scooter India today announced its sales number for the month of December 2023.
The company’s total sales for December’23 stood at 3,17,123 units. This includes domestic sales of 2,86,101 units and 31,022 units exports. The domestic sales for the month registered 23 percent YoY growth while the exports grew 82 percent over the same period of last year.
Noteworthy, the company sold 43,84,559 units during the CY’2023.
HMSI’s Key Highlights of Calendar Year 2023:
New Offerings & Special Editions in Red Wing Business
· New Offerings: HMSI launched the revolutionary Activa H-Smart along with its most affordable and fuel-efficient commuter motorcycle – Shine 100. The company also introduced the all-new SP160 and new sporty, advanced & convenient Dio 125.
· Special Editions: HMSI introduced an exciting range of special editions including the Activa Limited Edition, SP125 Sports Edition and Repsol Editions of Hornet 2.0 and Dio 125.
· OBD-2 Compliant Products: To further delight its customers, HMSI launched the OBD-2 compliant models of 2023 Dio, Unicorn, Shine 125, Honda Livo, CD110 Dream Deluxe, SP125, Activa 125, Hornet 2.0 and CB200X.
Honda’s Premium Motorcycle Business “BigWing”
· New Offerings: Augmenting its position in the premium mid-size 350cc motorcycle segment, HMSI launched the all-new retro classic CB350. The company also launched the all-new internationally acclaimed adventure tourer XL750 Transalp & its flagship premium motorcycle, the Gold Wing Tour.
· Special Editions: HMSI launched new avatars of H’ness CB350 & CB350RS in Legacy Edition and New Hue Edition respectively.
· OBD -2 Compliant Products: HMSI further expanded its BigWing product line-up and launched the OBD2-compliant CB300F and CB300R.
· Premium Business Network Expansion: HMSI further elevated the #GoRidin spirit with the inauguration of BigWing in 2023 to 25 cities including Kolkata, Bengaluru, Surat, Noida, Visakhapatnam, Jamshedpur among many others for the sales and service of its premium motorcycle range.
Business & Brand Milestones
· Management Change: HMSI announced the appointment of Mr. Tsutsumu Otani as the new President, CEO & Managing Director of Honda Motorcycle & Scooter India.
· Business Milestones: India’s No. 1 selling scooter brand ‘Activa’ recorded another historical milestone by achieving 3 crore customers’ mark in 22 years. Additionally, Honda’s Brand ‘Shine’ in the 125cc motorcycle segment crossed over 30 Lac customers in Western India. The company also announced its remarkable feat of crossing 15 million customer mark in Western India and 30 Lac customer mark in the state of Kerala.
· Extended Warranty: HMSI created a new benchmark in the Indian two-wheeler industry with the announcement of its ‘Extended Warranty Plus (EW Plus)’ program which offers 3 years standard + 7 years optional extended warranty on all scooter and motorcycle models up to the 250cc segment. The company also introduced the revolutionary ‘Extended Warranty’ & ‘Extended Warranty Plus’ programs for its BigWing customers.
· HMSI Zonal Office: Strengthening its penetration in the state of Maharashtra & Uttar Pradesh, HMSI inaugurated its new Zonal office in Nagpur & Lucknow, respectively.
Road Safety
· To make Indian roads safer for all, HMSI organized road safety awareness campaigns in schools, colleges, and government organizations for both kids & adults. The initiative was spread to more than 90 cities including Jaipur, Bhopal, Ghaziabad, Nashik, Bengaluru, etc. With this, HMSI has now educated over 5.7 million Indians on the importance of road safety.
· HMSI also organized two Road Safety Conventions with school principals and teachers at the Honda Samajik Vikas Kendra in Naurangpur as a part of their ongoing project- Mindset Development for our Future Generation.
Corporate Social Responsibility
· Recognitions: Honda India Foundation (HIF) was awarded with the prestigious “BHAMASHAH AWARD’’ by the Government of Rajasthan for remarkable contribution in education sector.
· Project Pragati: Honda India Foundation (HIF) commenced its flagship program Project Pragati (One Step towards Growth) in Kanpur (Uttar Pradesh), Patna (Bihar), Udaipur (Rajasthan) and Pune (Maharashtra). HIF also completed first batch of General Duty Assistant (GDA) training under this flagship program in Agra (Uttar Pradesh).
· Industrial Visit for Students: HMSI conducted industrial visit for young students at its Global Resource Factory in Manesar (Haryana). Under this initiative, the company organised presentations & practical guided tour of the company’s manufacturing facility along with engaging sessions by HMSI’s experts in the areas of Health, Road Safety & Motorsports.
· Easing The Problem of Water Scarcity: Committed to positively impact the lives of people, Honda India Foundation donated 30 water tankers with a capacity of 5000 liters each to 30 villages of Uklana in the state of Haryana.
· World Environment Day: HMSI conducted a week-long National Environment Campaign to celebrate the World Environment Day.
Motorsports
· Honda India Talent Cup: Displaying exceptional racing prowess, Kavin Quintal clinched the first position in the final race and won the 2023 IDEMITSU Honda Indian Talent Cup NSF250R with 175 points in the season. Johann Emmanuel and Mohsin P secured second and third position, respectively.
· Asia Road Racing Championship: Making a significant mark on international soil, IDEMITSU Honda Racing India’s Kavin Quintal clinched Top 10 finish in the 2023 Asia Road Racing Championship finale. The IDEMITSU Honda Racing India team earned a total of 33 points in the 2023 season.
· MotoGP: Repsol Honda Team rider Joan Mir clinched the 5th position, while his teammate Marc Marquez demonstrated the prowess of the Honda RC213V at the BharatGP. Additionally, Honda Racing Corporation announced the signing of Luca Marini for the 2024 and 2025 MotoGP World Championship seasons.
· Dakar Rally: Monster Energy Honda Team rider Pablo Quintanilla grabbed the 4th position in the Dakar Rally 2023. Two other Honda riders Adrien Van Beveren and José Ignacio Cornejo grabbed the 5th and the 8th position thereby finishing in the top 10.
4, Jan 2024
6 Red Flags To Look Out For While Investing In Mutual Funds
Introduction
Over the years, a lot of people have started exploring mutual funds as an investment option. The prospect of investing and growing wealth is one that attracts most people. Today, it has become a possibility, especially with the widespread adoption of technology. Trading platforms like Shoonya by Finvasia, Zerodha, Upstoxx, Groww, etc. are taking the centre stage. These platforms have enabled easy entry and participation in the financial markets.
However, as investors embark on this financial adventure, it’s crucial to keep an eye out for red flags that could signal potential trouble. Here are 6 warning signs to be mindful of:
1. High Expense Ratios
Investors looking to invest in mutual funds must, first and foremost, watch out for funds with disproportionately high expenses. These high expense ratios can significantly impact overall gains, quietly eating into investment returns.
2. Lack of Transparency
Funds that have managers operating behind a dense financial foliage must be avoided at all costs. Lack of transparency is a major problem. A clear process and framework governing how a fund runs is always a good sign. Never leave too much at the behest of fund managers.
3. High Turnover Rates
Just as turbulent waters can make a ship unstable, high turnover rates in a mutual fund can erode returns through increased trading costs. Investors should watch out for any dramatic changes in the composition of investments. Excessive buying and selling within the fund can be a red flag for investors.
4. Inconsistent Performance
Consistency is the key to any successful journey. A mutual fund’s sporadic and unpredictable performance may suggest a lack of clear strategy or internal issues.
5. Frequent Managerial Changes – The Leadership Quicksands
Frequent changes in fund management could signal instability or a lack of a coherent investment approach. Investment styles that are inconsistent amid short-term volatility cycles are concerning. Investors must remain wary of such activity.
6. Lack of Communication
Communication is key in any journey. If a mutual fund’s fund manager is silent about changes, updates, or performance explanations, it might indicate a lack of accountability or an attempt to conceal unfavourable developments. That’s why, choosing a financial advisor or a trustworthy trading platform, such as Shoonya by Finvasia, Angel One, Groww, etc. can be vital.
Conclusion
Investing in mutual funds can be a rewarding venture, but it’s essential to tread carefully. By keeping an eye out for these red flags, investors can navigate the investment jungle more confidently, increasing their chances of a successful financial expedition.
4, Jan 2024
Unveiling the Powerhouse of Jain Women: JITO Ladies Premier League 2024
Kolkata, 4th January 2024: In a celebration of strength, spirit, and unity the Jain International Trade Organisation (JITO) Ladies Wing proudly announces the grand spectacle of the JITO Ladies Premier League 2024 organised by JITO East Zone & Kolkata Ladies Wing, set to unfold at the NKDA Cricket Stadium in Rajarhat, Kolkata, on 4th and 5th of January 2024 under the initiative of JITO Sports project.
JITO Ladies Wing, the heartbeat of empowerment, has embarked on a journey to showcase the indomitable prowess of Jain women through the realm of sports. The tournament, aptly named the JITO Ladies Premier League, promises not only an exhibition of cricketing talent but a platform for the convergence of aspirations, determination, and camaraderie.
This premier league is not just a cricket tournament; it is a vibrant tapestry woven with the threads of diversity, equality, and collective growth. With 9 teams representing 9 Zones, the league brings together 108 players from varied walks of life – be it from homes, offices, or kitchens. It’s a celebration of the woman of today, juggling roles with finesse, and stepping onto the league’s playground with unwavering resolve.
JITO Ladies Premier League extends beyond the cricket pitch, embodying the core values of JITO Ladies Wing – Education (Shiksha), Service (Seva), Values (Sanskar), Security (Suraksha), and Self-Reliance (Swalamban). These five pillars serve as the guiding light, not only for personal and professional growth but also for contributing to the broader canvas of community and societal development. Through various projects like Education Assistance, Centre for Excellence, Business Networking, Matrimony, Minority, Jobs, Sports, and more, the league aims to strengthen the socio-economic status of women, emphasizing transformation through Leadership, Technology, and Economic Prosperity.
“The JITO LADIES PREMIER LEAGUE, 2024, is an ode to the multifaceted roles Jain women play. It is an affirmation that our ladies can seamlessly transition from managing homes and offices to commanding the cricket field with grace and strength” said Ms. Sangeeta Lalwani – JITO APEX Ladies Wing Chairperson.
“As we witness the JITO LADIES PREMIER LEAGUE unfold, let us remember that each player on the field represents not just a team, but a story of determination, passion, and the indomitable spirit of our Jain women” said Ms. Sheetal Dugar – JITO APEX Ladies Wing Chief Secretary.
“This tournament is more than just a game; it’s a testament to the collective power and potential of Jain women. It’s about breaking stereotypes and creating a legacy of empowerment through sports” said Ms. Kalpana Baid – EAST ZONE Ladies Wing Convenor.
“JITO Ladies Wing envisions the cricket pitch as a platform for transformation—a place where ladies from diverse backgrounds unite, compete, and emerge not only as players but as leaders in their own right” said Ms. Sangeeta Baid – JITO KOLKATA Ladies Wing Chairperson.
“The JITO LADIES PREMIER LEAGUE, 2024, is not just a cricket tournament; it’s a celebration of the strength, skill, and spirit of Jain women across the nation” said Ms. Rekha Jain – JITO APEX Ladies Wing SPORTS Convenor.
“I believe the JITO LADIES PREMIER LEAGUE serves as a powerful reminder that the boundaries for Jain women extend far beyond the kitchen and office—they reach the cricket pitch with pride” said Ms. Shashi Jain Dugar – JITO KOLKATA Ladies Wing Chief Secretary.
“In the world of JITO Ladies Wing, the cricket field becomes a stage where our ladies showcase not only their sporting prowess but also the resilience and determination that define them” said Ms. Hemlata Shyamsukha – JITO KOLKATA SPORTS Convenor.
4, Jan 2024
Kankanala Sports Group and FIM E-Xplorer World Cup seal a nine-year exclusive partnership
Hyderabad, 4th January 2024 – Kankanala Sports Group (KSG), a leading sports management company in India, has agreed a groundbreaking nine-year exclusive partnership with FIM E-Xplorer to host races in India.
This distinctive collaboration will mark the debut of an Indian team in the cutting-edge global electric all-terrain motorcycle racing World Cup organized by FIM E-Xplorer. Additionally, India has been selected to host the season’s grand finale in November 2024.
This pioneering all-terrain electric motorcycle racing series has been offering manufacturers a unique platform to test and push the limits of developed vehicles and prototypes, showcasing their level of technological advancement. The series, with its second season around the corner, will be broadcast in over 60 countries, reaching over 350 million households globally.
Choosing to partner with KSG marks a pivotal moment in FIM E-Xplorer’s worldwide expansion strategy. It affirms its steadfast commitment to India’s thriving market and willingness to extending its reach to Asia. It also reinforces India’s stature as a burgeoning motorsport hub with a growing enthusiasm for electric vehicles and motorsports, while steering the country towards sustainable mobility.
“We are thrilled with this long-term partnership with E-Xplorer. We aspire to unite the motorbike community and all racing fans, igniting enthusiasm for India’s motorsports while being a catalyst for it. Not only will the upcoming season excite and entertain moto enthusiasts across the country, but the introduction of our very own Indian team will finally give us all a chance to be on an international podium in motorsports! This is the start of a new dawn for motorcycle racing in India.”, said Abhishek Reddy Kankanala, Owner of Kankanala Sports Group.
Carina Munte, Chief Championship Officer and Co-Founder at E-Xplorer, said: “This strategic and long-term partnership with Kankanala Sports Group marks a significant step for the FIM E-Xplorer World Cup. It also aligns perfectly with the growing enthusiasm for electric motorbikes and motorsports in the world’s largest two-wheeler market. Kankanala Sports has already demonstrated to be well-equipped to make this race an unforgettable and outstanding event that will elevate the FIM E-Xplorer World Cup’s profile globally.”
Valentin Guyonnet, CEO and Co-Founder at E-Xplorer, said: ”India is on the brink of becoming the world’s leading two-wheel market. Our enduring nine-year partnership is a testament to our commitment to a long-term vision, especially in collaborating with Indian motorcycle manufacturers. We are also looking to develop a national championship and other grassroots programs. Our months of collaboration with Kankanala Sports Group have filled me with confidence. They are the ideal partners to help us realise our ambitious objectives.”
Beyond racing, FIM E-Xplorer champions a broader mission: advancing technological innovation, electric mobility, gender equality, and sustainability. It stands as a beacon of commitment by promoting gender parity on the tracks, fostering seamless collaboration between female and male riders, contributing equally to the team’s success.
4, Jan 2024
Apis India Ltd (AIL) Fitness and Wellness Revolution with New Product Launch
Drawing on three generations of experience and an established reputation for sourcing, producing, and supplying quality products, Apis India Limited (BSE: 506166) has positioned itself as a leading FMCG player in India. Building on this rich heritage and commitment to excellence, the company is now poised to unveil a ground breaking new product on January 9, 2024. This ground-breaking offering promises to redefine well-being for fitness enthusiasts and conscious consumers across India.
Trusted by Indian homes for their quality products, Apis India Limited is renowned for its commitment to ethical brand practices and responsible sourcing. This new product to be launched leverages Apis India Limited’s profound expertise to deliver a natural, sustainable solution that seamlessly integrates into the lives of health-conscious individuals seeking to elevate their fitness journeys and daily choices.
Prepare to witness a game-changing addition to Apis India Limited’s diverse portfolio. While details remain under wraps for now, expect a product that aligns perfectly with the rising demand for natural, sustainable choices in the fitness and wellness space. Mark your calendars and stay tuned for the official reveal.
4, Jan 2024
8.3% Projected Hiring Expansion in 2024 with Increased Demand – foundit Annual Trends Report
Mumbai, 04 January 2023: foundit (formerly Monster APAC & ME), India’s leading talent platform with over 90M job seekers and 7K recruiters, delves into the dynamic landscape of hiring trends witnessed in 2023. The trend report offers an in-depth overview of the industries and roles that thrived and faced challenges, coupled with a comprehensive outlook for 2024, projecting an overall hiring expansion of 8.3%.
Hiring Activity Slows Down in 2023, but Shows Signs of Recovery in the Last Month
According to the data from the latest foundit Insights Tracker(fit), hiring activity in 2023 was 5% lower than in 2022, indicating a slowdown in the job market. However, the index also showed a 2% increase in the last month of 2023, suggesting a possible turnaround in the hiring scenario. The economy experienced a shift towards the end of 2023, breaking the previous trend that had been consistent since mid-2022. The job market entered a phase of variability, where both quit and hiring rates stabilized. Despite the lower number of job openings, the imbalance between job openings and hires pointed to the ongoing difficulties for businesses to find the right talent.
Resurgence in Consumer Spending and Digital Innovation Fuel Growth for Key Sectors in 2023
In 2023, certain sectors showcased remarkable resilience and growth, becoming beacons of success amid a challenging environment. The maritime and shipping industry surged by 28%, capitalising on increased global trade, and adeptly managing supply chain disruptions. Simultaneously, the Retail and Travel & Tourism sectors, both witnessed a 25% uptick, reaping the benefits of the resurgence in consumer spending.
The Advertising, Market Research, and Public Relations (PR) sector saw an 18% increase, attributed to the rise of digital marketing and e-commerce. NGOs and Social Services witnessed a steady 12% growth, reflecting a continued commitment to social causes. Office Equipment/Automation saw a 6% increase, indicative of the growing importance of automation in streamlining business processes. The Oil/Gas/Petroleum, Power sector witnessed a growth of 4% and Garments/Textiles/Leather, Gems & Jewellery, demonstrated moderate growth at 1%.
Skill Gaps, Supply Chain Disruptions, and Inflation Hit IT, Education, Manufacturing, and FMCG
Conversely, certain sectors faced significant challenges, registering negative growth. IT-Hardware and Software, experienced an 18% decline, reflecting challenges from saturated markets, skill gaps, and global competition. The Healthcare, Pharmaceuticals, Biotechnology & Life Sciences, sector (-12%) and the Banking/Financial Services, Insurance sector (-9%) also experienced a decline in hiring. Manufacturing faced disruptions with an 8% decline, attributed to supply chain issues and rising input costs. BPO/ITES, Engineering, Cement, Construction, Iron/Steel, and Education also faced challenges with a hiring dip ranging from 8% to 4%. FMCG/Food & Packaged Food saw a 3% decline, feeling the impact of inflation and evolving consumer habits.
HR & Admin Standout as Companies Prioritises Workforce Management and Engagement
Within organisations, functional roles experienced significant shifts, reflecting a strategic response to the evolving business landscape. Roles in HR & Admin witnessed a 9% increase in demand, highlighting the imperative for efficient workforce management and employee engagement strategies. The Hospitality & Travel sector displayed a similar growth trajectory witnessing a notable increase of 9%. Conversely, customer service roles faced a 24% decline, due to increased automation and technology adoption within customer service functions, reflecting a broader industry trend.
Finance & Accounts roles maintained stability with a flat growth rate of 0%, showcasing a steady state in hiring within this functional domain. In contrast, Sales & Business Development and Legal roles experienced a marginal decline of 1%, indicating a relatively subdued demand for professionals in these sectors during the year. Similarly, the Engineering/Production sector saw a modest dip of 3%, reflecting the challenges faced by industries in this domain, potentially influenced by factors such as supply chain disruptions and global uncertainties. Purchase/Logistics/Supply Chain took a 5% hit, further underlining the ripple effects of global economic fluctuations.
Senior Management roles experienced a significant 12% reduction in hiring overall, but there has been a notable 9% increase observed within the last month, indicating a potential shift or resurgence in demand for these roles, especially in the Manufacturing & BFSI sectors. This trend may be indicative of a strategic reevaluation of leadership structures within organisations hinting at a sustained growth poised to persist. Meanwhile, Software, Hardware, and Telecom roles registered a decline of 13%, possibly influenced by technological saturation and evolving industry demands.
Emergence of Tier-2 Cities as Potential Growth Engines Driven by Cost Competitiveness
A notable shift in geographical hiring patterns emerged in 2023, driven by cost considerations and improved quality of life in smaller cities. Ahmedabad, experiencing a 6% growth, emerged as the top hiring hub, enticing companies with its talent pool and cost competitiveness. On the other end of the spectrum, traditional employment giants like Bangalore and Pune witnessed declines of 16% and 13%, respectively.
The decline in these IT-centric cities can be attributed to skill gaps, underlining the urgent need for continuous upskilling and adapting to market demands. On the flip side, smaller cities like Baroda (-1%) and Coimbatore (-5%) managed to weather the storm with a moderate dip, showcasing their cost competitiveness and potential for future growth.
Notably, Kochi (0%) and Jaipur (0%) held flat growth, indicating resilience. While Delhi-NCR, Chennai and Mumbai faced a 5%, 8% and 7% reduction in hiring, respectively, Hyderabad took the lead with an 11% dip. These cities may need to reevaluate their strategies to address industry-specific issues or capitalise on emerging opportunities.
2024 Outlook: Positive Trajectory for Job Market and Emerging Trends
As businesses gear up for 2024, foundit anticipates an overall hiring expansion of 8.3%, with Bangalore expected to surge by 11% among metros. In terms of industries, key sectors that will experience increased hiring include Manufacturing, BFSI, Automotive, Retail, and Travel & Tourism.
· Anticipated Technological Advancements: Increased demand for talent with expertise in emerging technologies is anticipated in 2024. While initial delays in IT hiring are possible, demand for AI/ML, Data Science, and Cybersecurity experts is expected to soar. These skills are essential for enabling digital transformation, innovation, and security across sectors.
· Sustainability Initiatives and Green Practices: Industries focusing on sustainability will prioritise roles related to green initiatives and eco-friendly practices. These roles will help organisations assess and manage environmental, social, and governance risks and opportunities.
· Strategic Guidance in an Evolving Landscape: Consulting firms will seek professionals with diverse skill sets for strategic guidance in an evolving business landscape. These professionals will help organisations navigate the challenges and opportunities arising from the technological advancements, and regulation changes.
· Financial Expertise in High Demand: The demand for experts in financial analysis, risk management, and compliance is expected to persist in 2024. These experts will help organisations manage their finances, mitigate risks, and adhere to regulatory norms.
· Fractional Hiring: Amidst limited skilled talent, the focus will shift to fractional hiring, leveraging specialised expertise without full-time commitments, enhancing agility, and operational efficiency.
· 2024 Talent Strategy: There will be greater emphasis on skills assessment, training, and career progression making it imperative to explore and integrate AI tools along with the skills to stay pertinent and competitive in the evolving landscape.
Sekhar Garisa, CEO of foundit, said, “Stepping into 2024 marks a shift from resilience to an era of remarkable growth in certain sectors. It is not merely about scaling up teams but fundamentally reimagining how we approach recruitment. In this dynamic landscape, the key to success lies in prioritising investments in cutting-edge technologies like AI, fostering sustainability practices, and seeking strategic guidance. Despite the increasing role of automation, it’s crucial to acknowledge that the human touch remains unparalleled in a tech-driven world, underscoring the importance of upskilling initiatives. Companies that go beyond the conventional and actively invest in their workforce, champion inclusivity, and lead the charge in sustainable practices will attract and retain the brightest minds in this evolving employment landscape.”
Period for the report
The data is for the time period of January 2023 to December 2023.
