Category Archives: Business

Rolls-Royce announces Indigo has agreed to order 60 Trent XWB engines

Rolls-Royce (LSE: RR., ADR: RYCEY) today announces IndiGo has agreed to place an order for 60 Trent XWB-84 engines. This is the first ever agreement for Rolls-Royce with this leading Indian airline.

As part of the deal, the health and maintenance of the engines will be covered by Rolls-Royce’s comprehensive TotalCare service.

Flying to more than 110 domestic and international destinations, IndiGo flew 100 million passengers in 2023 and is among the fastest growing airlines in the world. The new order will power the airline’s expansion plans, particularly its growing footprint on international routes.

Ewen McDonald, Chief Customer Officer, Rolls-Royce plc, said:

“This substantial order from IndiGo for our Trent XWB-84 engines is a great win for Rolls-Royce. It re-affirms the position of the Trent XWB as the future-ready, engine of choice among airline operators.

“India is an important market for Rolls-Royce. The future promises to be exciting, with significant infrastructure developments and further growth expected in air travel.

“We are grateful to IndiGo for placing their trust in us and we look forward to partnering with them on this journey. Together we will reach more destinations, serve more customers and capture the opportunities of this exciting market.”

Pieter Elbers, CEO of IndiGo, added:

“We are delighted to partner with Rolls-Royce for their future-ready Trent XWB engines as we expand our widebody aircraft fleet with an agreement to order a new fleet of A350-900 aircraft. We have immense trust in the reliability and efficiency offered by Rolls-Royce’s Trent engines and we believe it will reinforce our vision to connect the length and breadth of India to the world.”

As the world’s most efficient large aero engine in service, the technologically advanced Trent XWB, which is assembled in Derby, UK, is also well-positioned to help fast track IndiGo’s sustainability journey. With a 15% fuel consumption advantage over the first generation of Trent engines, the Trent XWB goes further on less fuel and offers leading performance and noise levels. It is also certified to operate on a 50% Sustainable Aviation Fuel (SAF) blend today and has been proven to be compatible with 100% SAF for the future.

TotalCare is designed to provide operational certainty for customers by transferring time on wing and maintenance cost risk back to Rolls-Royce. This industry-leading premium service offering is supported by data delivered through the Rolls-Royce advanced engine health monitoring system, which helps provide customers with increased operational availability, reliability and efficiency.

Hills on a Plate: Meghalaya Chef Wars Premieres on JioCinema

Mumbai , April 26th, 2024: Get ready to witness culinary magic as Hills on a Plate: Meghalaya Chef Wars makes its debut on JioCinema. Talented chefs from Meghalaya are going head-to-head, competing for the most exciting top prize promising a surprise that will leave you speechless. This new series takes viewers on an immersive journey through the heart of Meghalaya, where top chefs battle for supremacy while highlighting the vibrant flavours and rich traditions of this unique region.

The series kicked off with the first episode “MEET THE 7,” where seven skilled chefs from various backgrounds set the stage for intense competition and camaraderie. In Episode 2, “Waterfall Trails and Turmeric Tales,” the action moves to the scenic Jaintia Hills, where the chefs dive into the cultural and culinary heritage of the region. Moreover, episode three, “Fishing for Flavors in Garo Hills,” takes viewers to the lush landscapes of the Garo Hills, where the contestants embrace the essence of local cuisine. The rest of the episodes is set to be released on April 27th.

The seven-episode series features Sarah Todd of MasterChef Australia, Ardahun Passah, and William Diengdoh as the judges, with Gordon Thabah and Abigail Pamei as hosts. The contestants include Artet Kharsati, Ivan Suting, Adonijah Lyngdoh, Daei Suchiang, Tanisha Phanbuh and Nambie Marak.

At the heart of the series lies the search for Meghalaya’s greatest chefs, who will showcase their culinary prowess amidst breathtaking landscapes and vibrant markets. As contestants compete to create dishes that capture the essence of Meghalaya’s cuisine, viewers will be treated to mouthwatering creations inspired by local ingredients and age-old recipes.

The series combines breathtaking scenery with culinary artistry, inviting viewers to explore the enchanting hills and experience the vibrant food scene of Northeast India. Combining the excitement of a chef competition with the immersive exploration of Meghalaya’s cultural tapestry, “Hills on a Plate” promises a unique blend of flavours, sights, and experiences. From bustling markets brimming with fresh produce to remote villages steeped in tradition, each episode offers a glimpse into the diverse and untamed beauty of this northeastern gem.

“Hills on a Plate” is more than just a culinary competition—it’s a celebration of Meghalaya’s rich heritage and the people who call it home. Through encounters with locals, visits to cultural landmarks, and immersive experiences in traditional cooking methods, viewers will gain a deeper understanding of the soul of Meghalaya. Stay tuned for more culinary adventures in the upcoming episodes of Hills on a Plate.

5 Companies Where HR Practices Make Them the Best Places to Work

In today’s competitive job market, attracting and retaining top talent requires more than just offering competitive salaries. Companies that prioritize their employees’ well-being and growth through effective HR practices often emerge as the best places to work. Here are five companies leading the pack with their exemplary HR initiatives:

Vijay Sales: Creating a Culture of Growth and Support

Vijay Sales is an Indian electronics retail chain with a rich history dating back to its humble beginnings in 1967. With over 125 stores operating, Vijay Sales is renowned for its commitment to employee development and support. The company’s HR practices focus on fostering a culture of growth, where employees are encouraged to learn and excel in their roles. Vijay Sales offers comprehensive training programs, mentorship opportunities, and career advancement paths, ensuring that employees feel valued and empowered to reach their full potential.

Moreover, Vijay Sales prioritizes work-life balance by offering flexible work arrangements and wellness programs. This holistic approach to employee well-being contributes to a positive work environment and high employee satisfaction levels, making Vijay Sales a top choice for job seekers.

Noventiq: Embracing Diversity and Inclusion

Noventiq stands out for its inclusive workplace culture and commitment to diversity. The company’s HR practices are designed to create a sense of belonging for all employees, regardless of their background or identity. Noventiq actively promotes diversity and inclusion through recruitment initiatives, employee resource groups, and diversity training programs.

Furthermore, Noventiq has recently opened a new office in Bengaluru, and with plans to hire about 500 people this fiscal year, Noventiq values work-life balance and offers benefits such as remote work options, flexible scheduling, and wellness programs. By prioritizing diversity, inclusion, and employee well-being, Noventiq has earned a reputation as a progressive and inclusive employer.

Findability Sciences: Empowering Employees Through Skill Development

Findability Sciences, lauded as one of America’s most innovative companies for the second consecutive year, has masterfully crafted its HR practices to attract and retain top talent while prioritizing employee well-being and growth. The company fosters a nurturing environment that supports both physical and mental health through a variety of initiatives. Regular sports events and fitness activities, coupled with comprehensive medical insurance that includes coverage for employees and their families, underscore the company’s commitment to physical health. On the psychological front, Findability Sciences offers transformative experiences such as the Miracle Morning Ritual Workshop by renowned trainer Mr. Sunil Parekh, which extends even to employee families, promoting happiness and success. The firm’s global perspective enriches its workforce with international travel opportunities, career advancement in overseas offices, and collaborations with industry giants like IBM. This exposure ensures a vibrant, growth-oriented work culture. Additionally, Findability Sciences supports work-life balance with flexible working hours and generous paid leave policies, ensuring employees have ample time for personal matters. This holistic approach not only enhances job satisfaction and loyalty but also positions Findability Sciences as a leader in innovative and supportive workplace practices.

Lotus Electronics: Valuing Employee Contributions and Recognition

Lotus Electronics is the largest electronics retail store chain in Central India, with a wide presence across various cities. The company values employee contributions and provides recognition for their achievements. Lotus Electronics fosters a culture of appreciation and acknowledgment, offering a range of employee recognition programs, rewards, and incentives.

Furthermore, Lotus Electronics promotes a collaborative work environment where employees are encouraged to share ideas and support one another. With its commitment to employee satisfaction and engagement, Lotus Electronics has established itself as a desirable workplace for individuals seeking opportunities in the retail industry.

Racold: Creating a Culture of Excellence and Wellness

Racold, a leading manufacturer of water heaters and heating solutions, is committed to creating a culture of excellence and wellness in the workplace. The company offers a range of employee benefits and wellness programs to promote work-life balance and mental health. By prioritizing employee well-being and fostering a supportive work environment, Racold has earned a reputation as an employer of choice in the manufacturing sector.

In conclusion, these five companies stand out as leaders in creating the best places to work through their exemplary HR practices. By prioritizing employee development, diversity and inclusion, work-life balance, employee engagement, recognition, and innovation, these companies have built strong employer brands and attracted top talent, making them the preferred choice for job seekers.

HCLTech appoints Lee Fang Chew as Independent Director

NOIDA, India, April 26, 2024: HCLTech, a leading global technology company, today announced the appointment of Lee Fang Chew as an Independent Director of the company with effect from April 25, 2024.

Lee Fang Chew brings in over three decades of rich experience in the global technology industry and has deep understanding and know-how in analysing changes and evolution in technology, particularly in the computing industry.

She worked with Intel Corporation from 1986 to 2016 and had held several leadership positions. She was responsible for strengthening the ecosystem for Intel architecture in data center and cloud, consumers and businesses. She spearheaded Intel’s foray into services business and led the strategic planning for Channel Product Group covering market requirements, market sizing, product & technology roadmap. She was also responsible for Intel’s Global Distribution & Channel revenue and served as Financial Controller of Asia Pacific. She was also associated with Applied Materials as Vice President, Strategic Alliances from 2017 to 2020 and contributed to shaping the value proposition of the company’s technology to build long-term strategic partnerships.

“We are pleased to have a seasoned technology leader like Lee Fang Chew on the Board as HCLTech moves forward on the next phase of its growth journey. This also reinforces our commitment to building one of the most diverse Boards in the industry,” said Roshni Nadar Malhotra, Chairperson, HCLTech.

“I am delighted to be a part of this distinguished Board and look forward to contributing to HCLTech’s growth journey in the rapidly evolving technology landscape,” said Lee Fang Chew.

Lee Fang Chew completed her Bachelor of Accountancy from National University of Singapore and Women’s Director Development Program from Kellogg School of Management, Northwestern University. She has also done executive programs for women leaders from Stanford University. She was voted by VAR Business Magazine as one of the 50 most powerful women of the channel in USA in August 2006.

AEO Status Now Extended To The Gem & Jewellery Sector: GJEPC

India, 26th April 2024: The Gem & Jewellery Export Promotion Council (GJEPC) is pleased to announce a significant milestone for the gem and jewellery industry in India. Following extensive efforts by the GJEPC in collaboration with the Ministry of Finance, the Authorized Economic Operator (AEO) status is now being extended to the gem and jewellery sector. The AEO programe was introduced as piolet project in 2011 vide Circular No. 37/2011 – Customs dated 23rd August. 2011.

The AEO program, a crucial part of the broader ease of doing business initiative, has been instrumental in simplifying export operations across various sectors, resulting in significant time and cost savings for exporters. Despite the benefits it offers, the gem & jewellery sector was initially denied participation in the AEO program.

However, through proactive engagement with relevant Ministries, the GJEPC successfully advocated for the inclusion of the gem and jewellery industry in the AEO program. Consequently, the Ministry of Finance has communicated that units within the gem and jewellery industry are now eligible to apply for participation in the AEO program, thereby enabling them to avail associated benefits.

In line with this development, the GJEPC recently conducted an informative Outreach Program focused on obtaining Authorized Economic Operator (AEO) status. The event, held on March 18, 2024, at the Bharat Diamond Bourse, brought together industry stakeholders eager to enhance international trade operations, strengthen supply chain security, and improve global competitiveness.

Encouragingly, 20 companies have already applied for AEO status. Based on these applications, as of now Asian Star, a premier diamond and diamond jewellery manufacturer has been granted AEO Status, making it the first in the Indian gem and jewellery industry to receive the certificate.

The GJEPC expresses its gratitude to the Government, particularly the Ministry of Finance, for considering the council’s request and bringing the gem and jewellery industry under the purview of the AEO program.

SBI General Insurance: 17 percent Topline Growth, 30 percent Profit Surge in FY23-24

Mumbai, April 26th, 2024: SBI General Insurance, one of India’s leading General Insurance companies, announced its financial results for FY 23-24. The Company continued to sustain its strong growth momentum, recording a profit before tax of INR 319 crores for FY 23-24, a growth of 30% from FY23. The Company also demonstrated strong growth in overall business clocking a Gross Written Premium (GWP) of INR 12,731 crores – a growth of 17% over the previous year.

The Company’s diverse product portfolio, distribution reach, brand and cost optimization has helped deliver these numbers. The retail business led by Motor and Health have shown strong growth. SBI General Insurance continues to be No. 1 in the Personal Accident segment in the private market, along with its strong presence in various lines of business including Health, Home, Crop, Commercial and Motor.

The Company witnessed strong top line growth and the Profit Before Tax (PBT) stood at INR 319 crores in FY 23-24 as compared to INR 244 crores in FY 22-23. Its solvency ratio stood at 2.25, signifying its strong financial position against the minimum regulatory requirement of 1.50 times.

Commenting on the Company’s performance, Mr. Kishore Kumar Poludasu, MD & CEO, SBI General Insurance, said, “At SBI General, we have been consistently growing faster than the market. The company has registered a strong growth with GWP of INR 12,731 crores in FY 23- 24, in just 14 years of operations. This remarkable feat is a testament to our diversified product portfolio, distribution strength, leveraging technology, and our relentless dedication to customer centricity. As we strive to the objective of making insurance available to all, we remain committed to creating simple value-oriented products that leverage the trust customers have in our brand.”

Mr. Jitendra Attra, CFO, SBI General Insurance, said “Our financial results reflect our commitment to building long term value through profitable growth for stakeholders. The Company’s profit growth by 30%, reflects our financial health and also the work done in improving productivity, improving opex ratios and focus on delivering customer value.”

Honda Motorcycle & Scooter India inaugurates BigWing in Ayodhya, Uttar Pradesh

Ayodhya, 26 April 2024: Marking a momentous stride towards redefining the premium motorcycle landscape in the region, Honda Motorcycle & Scooter India (HMSI) proudly inaugurated an all-new premium motorcycle sales and service outlet, Honda BigWing, in Ayodhya, Uttar Pradesh.

Initiating a transformative era for motorcycle enthusiasts, the BigWing dealership promises an unparalleled immersive experience for riders who seek nothing but the best. Located in the heart of Delhi, this state-of-the-art facility aims to elevate the #GoRidin spirit amongst new as well as prospective customers.

Expanding their last mile presence to cater to the aspirational customers, the differentiated BigWing can be now experienced at more than 140 operational touchpoints across India.

Premium Experience

Adorned with the black & white monochromatic theme, BigWing showcases the displayed vehicles in their full glory. The highly trained and knowledgeable professionals at BigWing assist customers in resolving their product or accessories related queries. Easing the journey from search to purchase, the dedicated website (www.HondaBigWing.in) is available for detailed information. The online booking option on the website ensures a quick, seamless, and transparent booking experience for customers at their fingertips. Capturing real-time customer feedback, Honda BigWing is also actively available across all social media platforms.

Ensuring safety and convenience of customers, Honda BigWing offers Immersive Digital Experience. The virtual platform – https://virtualshowroom.hondabigwing.in allows customers to experience the entire fun motorcycle line-up, riding gears and accessories in granular detail while sitting in the comforts of their home.

Diverse Product Portfolio

Honda’s premium motorcycle retail format is led by the BigWing Topline – for entire premium motorcycle range (300cc – 1800cc) in top metros and BigWing – exclusively for mid-size motorcycle segment (300cc – 500cc) in other cities. Its diverse range of motorcycles includes the all-new CB350, H’ness CB350, CB350RS, CB300F, CB300R, NX500, XL750 Transalp, Africa Twin and Gold Wing Tour.

Proffering new experiences to customers with the All-New ‘NX500’

HMSI kickstarts the calendar year 2024 with the launch of all-new ‘NX500’ adventure tourer at an attractive price of Rs. 5,90,000 (ex-showroom Delhi). Directed by the design theme of ‘Daily Crossover’, this new model makes its way to the Indian market through the CBU* route (*Completely Built-Up).

Powering the all-new Honda NX500 is a 471cc, liquid-cooled, 4-stroke DOHC engine with a parallel twin-cylinder layout that offers a well-proportioned balance of enjoyable performance with an energetic high-revving character and zappy top end. This motor churns out 35kW power at 8,600rpm and 43Nm of peak torque at 6,500rpm, paired with a slick-changing 6-speed gearbox.

From Siliguri to a Chai Empire: How a Women Entrepreneur Brew a Successful Tea selling brand CHAIOM

Sipping her steaming cup of Darjeeling, Payalh Aggarwal reminisces about her journey from a small-town girl with big dreams to a leading name in the Indian tea industry. In 2017, armed with nothing but ambition and a passion for chai, Payalh left the familiar comfort of Siliguri for the bustling capital, New Delhi, with a dream to establish a tea brand that would touch the lives of millions.

Ms. Aggarwal’s venture, Zolina Express Pvt Ltd, launched its flagship brand, ChaiOm, initially offering just one variety of tea. Despite her two decades of experience in the beverage industry, Payalh found the early days challenging, describing them as “daunting” due to a lack of clear direction. It was then that she discovered the Gaurav Bhagat Academy (GBA) and its founder, India’s 10X sales expert. The courses on time management and sales cycles offered by GBA became the catalyst for Payalh’s budding enterprise.

Transformed by these new insights, ChaiOm evolved into a diverse brand, expanding its product line to include a range of specialty teas and introducing Madhom, an artisanal tea gifting sister brand. ChaiOm’s success soared, with its products now featured on Amazon and the Open Network for Digital Commerce (ONDC), reaching customers nationwide.

Beyond financial success, Payalh is proud of how ChaiOm sustained a positive EBITDA through the pandemic, a testament to the brand’s resilience and strategic planning. Her passion for tea is not just about business growth but also about creating societal impact. Looking ahead, Payalh envisions launching a “Chai Academy” and hosting a tea-centric talk show to deepen appreciation for tea across India.

For budding entrepreneurs and women professionals, Payalh shares her key lessons and learnings, saying, “Resilience, focused learning, and crafting a narrative that connects deeply with our customers have been the cornerstones of our success. What continually drives me isn’t just my passion for tea but my commitment to making a meaningful difference and nurturing a brand that resonates on a personal level with people. Scaling from a few packets to thousands of boxes was not a simple feat. Initially, I knew I wanted to climb higher but lacked clear strategies for growth and networking. Thanks to the targeted modules and personal coaching from the Gaurav Bhagat Academy, and strategic support from Consortium Gifts, we’ve not only expanded our reach but also our product range, ensuring that there’s no looking back for us now.”
As for the future of ChaiOm, Payalh plans to continue innovating and inspiring, one cup of tea at a time.

SBI Card Launches SBI Card MILES for Travel Enthusiasts

Hyderabad, 26th April 2024: SBI Card, India’s largest pure-play credit card issuer, has launched three variants of its first travel-focused core credit card, ‘SBI Card MILES’, in Mumbai today. The card is aimed at bringing holistic travel benefits to travelers of all kinds – from travel aspirants to frequent fliers to travel aficionados. SBI Card MILES offers compelling features that include conversion of Travel Credits to Air Miles and Hotel Points, accelerated rewards on EVERY travel booking, and airport lounge access among others. Empowering cardholders with absolute choice of redemption, the card partners over 20 airline and hotel brands including Air Vistara, Air India, Spicejet, Air France-KLM, Etihad Airways, Air Canada, Thai Airways, Qantas Airways, ITC Hotels, IHG Hotels & Resorts, and Accor among others.

According to Mr. Dinesh Kumar Khara, Chairman, State Bank of India, “The strong economic growth and robust consumption landscape has accentuated India’s position in the world. Even in travel sector, today, India is considered amongst the key source markets for outbound travel in many countries including those in Asia and Europe. I congratulate SBI Card on the launch of SBI Card MILES, a strong product that will redefine the travel experiences for Indian consumers.”

Indians are increasingly becoming open to more and varied travel experiences. The three variants, SBI Card MILES ELITE, SBI Card MILES PRIME, and SBI Card MILES, have been designed to elevate these experiences through curated travel benefits. Cardholders can earn up to 6 Travel Credits on every INR 200 travel spend and up to 2 Travel Credits on spending INR 200 on other categories. The offerings under ‘SBI Card MILES’ bouquet enable cardholders to carry out an easy and seamless Travel Credits redemption across multiple renowned flights and hotel partners. One can convert these Travel Credits into Air Miles/Hotel Points of respective partners or directly use them to book air tickets and hotel accommodations by visiting the SBI Card mobile app or website https://www.sbicard.com/. Alternatively, one can redeem them on SBI Card’s Rewards Catalogue as well.

Speaking at the launch Mr. Abhijit Chakravorty, MD & CEO, SBI Card said, “Our customer-centric approach has always driven us to design innovative products, solutions, and services that address the evolving and diverse lifestyle needs and offer customers an extremely rewarding experience. Indian travellers are large global spenders and naturally, with increased and more robust travel plans, consumers are looking for curated benefits to enhance their travel experiences. SBI Card MILES is our endeavour to offer our customers the best of all the travel benefits. The card has been designed to become one true travel partner for the cardholders. We are sure that our cardholders will enjoy the exclusive benefits offered by our travel-centric core card.”

SBI Card MILES ELITE comes with multiple and varied spends milestone benefits. These include up to 5000 Travel Credits on reaching spends of INR 1 lakh in 60 days of enrollment; up to 20,000 Travel Credits on spends milestone of INR 12 lakh; and spends-based fee reversal on reaching spends milestone of INR 15 lakh.

With airport lounge access being an important part of the overall travel experience, SBI Card MILES ELITE offers Priority Pass membership. Using the card, cardholders will be able to enjoy up to 8 complimentary domestic lounge visits and up to 6 international airport lounge visits in a year. What’s more, the card also enables users to earn additional domestic lounge access. Every time a cardholder achieves a cumulative spends of INR 1 lakh, cardholders will receive 1 gift voucher for lounge access that can be used by either the cardholder or the guest.

Importantly, SBI Card MILES ELITE cardholders will also enjoy a low foreign transaction markup of 1.99% and travel insurance cover. The card will be available on Mastercard and RuPay network. The joining and annual fees of SBI Card MILES ELITE are INR 4,999 plus applicable taxes while SBI Card MILES PRIME and SBI Card MILES have a fee of INR 2,999 and INR 1,499 plus applicable taxes respectively.

Key highlights of SBI Card MILES Cards:

UFlex inks an agreement for the supply of renewable power for its packaging films plant in Karnataka

26th April 2024, Noida, National Capital Region: UFlex Limited has entered into a long-term Power Purchase Agreement (PPA) with Amplus Phoenix Private Limited to source renewable power under a group captive power policy. The plant will provide solar power to UFlex’s Packaging Films manufacturing plant in Dharwad, Karnataka. In line with UFlex’s goal of being net zero by 2035, or earlier, this move will strategically reduce UFlex’s carbon emissions by app. 19000 tCO2e.

UFlex’s Dharwad facility is home to a state-of-the-art packaging films plant, commissioned in Q2, 2022. Equipped with a BOPET line, a CPP line, and plasma-enhanced high-barrier metallizers, with a combined capacity of 93,000 TPA, the facility is an addition to UFlex’s global manufacturing footprint — spread across nine countries.

This agreement signifies UFlex’s commitment to adopting renewable energy for its operations and fostering a sustainable future. This strategic agreement, under the group’s captive power policy, aims to play a pivotal role in reducing the company’s greenhouse gas emissions and is aligned with UFlex’s overarching vision for sustainability.

Mr. Apoorvshree Chaturvedi, Director of Global Operations, UFlex Group, affirmed that the company’s investment in renewable energy is a crucial and bold move toward reducing its carbon footprint and fulfilling its commitment to environmental stewardship. “UFlex has a robust and well-defined energy optimization transition strategy for reducing emissions. The organization believes that every company is responsible for adopting sustainable practices that are beneficial for the environment, long-term business success, and stakeholder value. UFlex is a pioneer in recycling multi-layer mixed plastics and aseptic packaging waste and has taken the onus to share its knowledge and expertise with corporations and economies worldwide. The investment in renewable