Wednesday, May 22, 2019

Indian Economy Projected to Grow at 7.1% in FY’20: United Nation



The economy is projected to grow at 7.1% in fiscal year 2020 on the back of strong domestic consumption and investment but the GDP growth is a downward revision from the 7.4% estimated in January this year, according to a report by the United Nations.

The World Economic Situation and Prospects (WESP) 2019 Mid-year Update, released here Tuesday, said that the economy, expanded by 7.2% in 2018.

“Strong domestic consumption and investment will continue to support growth, which is projected at 7.0% in 2019 and 7.1% in 2020,” the report said.

The estimates for India, however, reflect a downward revision from the projections made in the World Economic Situation and Prospects 2019 report released in January this year. That report had estimated that India would grow at 7.6% in fiscal year 2019 and 7.4% in 2020. It must be noted that despite the downward revisions, India remains the fastest growing major economy.

The WESP mid-year update noted that growth projections for 2019 have been revised downward in all major developed economies. The growth outlook for many developing economies has also weakened, it said, adding that despite downward revisions, growth in India remains “strong” amid robust domestic demand.

“The global growth outlook has weakened amid unresolved trade tensions. Across both developed and developing countries, growth projections for 2019 have been downgraded. Alongside a slow-down in international trade, business sentiments have deteriorated, casting a cloud on investment prospects,” the report said.

Toyota Signs MoU to Set-Up Centre of Excellence at Manipal Academy of Higher Education


Key Highlights

* As a part of its commitment towards Skill Development, Toyota Kirloskar Motor (TKM) hands over engine kit to MAHE to enhance practical knowledge amongst engineering students
* Toyota’s objective is to achieve excellence in development of core employability skills, competency standards and training on advancement in technologies to meet the demands of varied industries globally
* Such initiative also aims to support Toyota’s social mission to enable Quality education amongst the youth of India
* The CoE would support trained human capital to understand and deal with the industry needs in a broad context and sustainable manner
* Toyota practices Kaizen “continuous improvement”, aligning with this philosophy - these skill centers will be evaluated & basis feedback, further skill level scale-ups may be considered in future
* This is Toyota’s 6thCentre of Excellence in the state of Karnataka

In line with its long-standing commitment towards Skill Development, Toyota Kirloskar Motor (TKM) signed a Memorandum of Understanding (MoU) to set-up a Toyota Centre of Excellence at Manipal Academy of Higher Education (MAHE), Karnataka. The concept of establishing Toyota Centre of Excellence at various colleges and institutes is to reiterate Toyota’s commitment to upscale skill sets and offer well expertized workforce to the automotive industry. Through this skill initiative, the institution can be equipped to impart high quality skill standards by providing expert trainers, facilities and equipment.

In order to enable in depth knowledge-base of engine composition at the grass-root level, Toyota handed over one cut section of the vehicle engine and an assembled engine to MAHE. The key focus is to provide comprehensive learning opportunities for the students, offering them a first- hand experience of the vehicle engine. The engine cut section will showcase the component set- up in an engine and its related functioning. While the engine assembly section helps the students to gain an insight of the real orientation of the assembled engine including the dismantling and re-assembling techniques, thus achieving high quality skill sets in engine operating mechanism as part of the Skill Enhancement program.

This initiative is fundamentally incorporated to pursue Toyota’s main objectives to promote, setup, monitor, govern and regulate institutions and academies for skill excellence through development of core employability skills, competency standards and to train on advanced technologies to meet the industry demands globally.

The event was graced by Dr. D. Srikanth Rao, Director, Manipal Institute of Technology, MAHE, Mr. Raju B. Ketkale, Sr. Vice President, Toyota Kirloskar Motor and Mr. Naveen Soni, Vice President, Toyota Kirloskar Motor, amongst other dignitaries.

Dr H Vinod Bhat, Vice-chancellor, Manipal Academy of Higher Education said, “Manipal Academy of Higher Education is happy to be associated with a brand like Toyota, which has a legacy of Quality and Excellence as their basic DNA. Being a pioneer in manufacturing cars of global standards, Toyota over the years has led by example of being a responsible corporate citizen through its various initiatives to cover broader societal issues.

As academicians, it is our responsibility to impart quality education to our students. Skill enhancement is of utmost importance for the socio-economic development of any nation. It is an honour for us to partner with Toyota. Through this initiative, I am confident that the students would gain a better insight into the complexity associated with the engine, which is an essential part of a vehicle, while enriching their learning experience and making it exciting.”

Expressing his views on the occasion, Mr. Naveen Soni - Vice President - Toyota Kirloskar Motor, said, “The quality of learning and education is very critical for the economic growth and development of a nation. Through the network of Centres of Excellence in association with various colleges and institutes across the country, which can help drive rapid, targeted improvements in the quality of training, we are striving to provide more comprehensive learning opportunities for the students at the grass-root level. Being a responsible corporate citizen, our objective at Toyota is to empower the students to be industry ready with desired skill sets and competencies, while contributing to the nations’ growth and Industry’s employability ratio.

We believe that such practical exposure would aid the students to cope with different levels of operations associated with automotive functional mechanisms, while making classroom learning more practical, interesting and interactive.

Toyota’s scalable and sustainable skill approach focuses to bridge the gap between India’s rapidly growing industrial sector with evolving technologies and availability of skilled workforce. Through these intensive skill efforts, we provide more comprehensive learning opportunities for the students at the grass-root level, thus standing strong by our commitment to offer the industry better skilled workforce for the future requirements.” He added.

The company has been tirelessly working towards enhancing the employability quotient in the automobile manufacturing industry across India by promoting unique skill sets.

As a part of its commitment towards developing world class skilled workforce for the emerging Indian Auto Industry, Toyota in 2007 established the Toyota Technical Training Institute (TTTI)

which offers a three-year rigorous full-time training in – Automobile Assembly, Automobile Paint, Automobile Weld and Mechatronics (a combination of mechanical and industrial electronics) to financially challenged students hailing from Below Poverty Line (BPL) families from across Karnataka. This institute exclusively emphasizes on over all development of the trainees as per industry requirements & towards “Perfecting people” and there by contributing young multi skilled, energetic, ideal students to the nation. Training Curriculum is a unique blend which focuses on the holistic development of Knowledge (16%), Skill (34%), Body and Mind (50%) of the students. Last year Toyota’s TTTI institute accomplished the key milestone of being selected for “Manufacturing Skill Transfer Promotion Programme” under the MoU signed by Ministry of Economy, Trade and Industry, Government of Japan (METI) and Ministry of Skill Development and Entrepreneurship Government of India (MSDE).

Some of the key highlights of TKM’s other skill initiatives follows:

·         Gurukul is a well-equipped learning center at TKM imparts diverse training to employees at all levels which helps them to improve their abilities and thoroughly fulfill their roles. Everyone who works in Toyota experiences 70% of their development through the job itself; and the experience serves as a driving force in developing the next generation.

·         Toyota Technical Education Program (T-TEP) provides technical know-how training to ITI students across India along with providing hands-on real-time experience within Toyota dealerships

·         Toyota Apprentice Scheme (TAS) – Under TAS, TKM has trained over 12,000 Apprentice Members (ITI, Diploma and Engineer) since 2002, which makes it one of the largest sources of providing such manpower to the industry.

·         National Skill Contest– Launched in 2014, National Sales & Service Skill Contest is an initiative that provides Toyota’s dealer sales & service personnel to showcase their skill levels with a view to identify gaps and improvise. Held at three levels – across dealership, regional and national levels, the contestants are evaluated on various parameters such as knowledge, process demonstration, soft skills and role plays among others. Continuous training skills are imparted to hone the dealer personnel skill sets to meet the growing expectations and deliver Toyota’s best-of-all Quality, Durability & Reliability for ultimate customer delight.

Spice Mobility Transforms its Corporate Identity to DiGiSPICE Tech, Forays into the Larger Digital Tech and Fintech-Ecosystem


Spice Mobility Limited, in its Board meeting held today, announced its consolidated Financial  results  for  the  quarter  and  year  ended  31st  March  2019,  posting  a  Revenue  of  Rs 376.68 Cr as against the previous year revenue of  Rs 280.52 Cr,  a growth of 34 % year on year and also  reported  a  Profit  after  tax  of  Rs 9.08 Cr  as  against  a  Loss  of  Rs 44.70 Cr in the previous year.

The Board of Directors also recommended a dividend of 15% of the paid-up equity capital of the Company for the year ended 31st March 2019, subject to shareholders’ approval.

The Company launched its digital initiatives in the last 12 months under the ‘’DiGiSPICE‘‘ brand and has seen notable success in developing countries like Indonesia, Bangladesh, Kenya and other countries in Sub-Saharan Africa apart from India. The Company also launched its Digital Financial Technology services business through its subsidiary company. Branded “Spice Money”, the digital platform offers financial services in semi urban and rural India.

Announcing the above developments, Mr. Dilip Modi, Chairman of the Company said: “There are two megatrends that we, at DiGiSPICE, are very excited about. The first megatrend that we are seeing is that worldwide Telcos, enterprises and governments are aggressively working on their digital transformation blueprints. DiGiSPICE Technologies, with a pedigree of digital, aims to work closely as partners with telcos and enterprises across developing and developed markets in enabling their digital transformation journey.

The second megatrend that we are witnessing is around ‘BHARAT’ going DIGITAL. Spice Money, a wholly owned subsidiary of DiGiSPICE Technologies, is working to financially empower a billion people in BHARAT using digital platforms. We, have, to date, on boarded over 200K next door kirana stores as our customer service partners on the Spice Money digital platform. More than 5 million customers are availing financial services at these Spice Money customer service points every month. We are committed towards building DiGiSPICE Technologies into a leading NextGen digital services and products company in the emerging new technologies space” added Mr. Modi.

As a part of its continuous effort to professionalize the management of the Company, the Board had recently appointed Ms. Preeti Das, as the CEO of Spice Mobility. She brings over three decades of global experience from multiple large organizations like Microsoft, Oracle, Birlasoft etc. in IT and Digital services. She will lead the Company’s Digital transformation journey with a view to create a leadership position for DiGiSPICE in offering Digital technology services to Telcos, Enterprises and Governments across the world.

The Company further announced completion of a demerger process through a Scheme of Arrangement, which has been duly approved by NCLT, Delhi. The Scheme paves the way for:

i) Consolidating all the technology services businesses under Spice Mobility, making Spice Mobility a Digital Technology Services Company.

ii) Creating a separate Digital Financial services company, as its wholly owned subsidiary.

In order to give a true representation of the nature of Company’s business, the Board of Directors also proposed:

a)       Change of name of ‘’Spice Mobility Limited’’ to ‘’DiGiSPICE Technologies Limited’’ and change of name of its subsidiary ‘’Spice Digital Limited ‘‘to‘’ Spice Money Limited’’, subject to necessary approvals. While ‘DiGiSPICE Technologies Limited ‘will focus on providing digital technologies services, ‘Spice Money Limited ‘will be the FINTECH subsidiary of the Company, focusing on driving digital financial services in India.

b)       An application to be made to the Stock Exchanges to reclassify Spice Mobility Limited (New name ‘DiGiSPICE Technologies Limited ‘) from the current Industry classification of ‘’Telecom -Telecommunication Equipment ‘‘to ‘’Information Technology -Software and Services -IT Consulting and Application software ‘’ sector. This will enable the Company to rightly position itself with customers, partners, investors and analysts and also enable investors to compare and analyze the performance of the Company with the right Industry benchmarks.

Tuesday, May 21, 2019

AURIC India’s Greenfield Smart Industrial City Holds Roadshow for Industries, MNCs, Entrepreneurs & Corporates in Bangalore

 

Aurangabad Industrial Township Limited conducted a Roadshow in the City to apprise a business gathering comprising Industries, MNCs, entrepreneurs, corporates and domestic enterprises based in Bangalore and Karnataka region on the opportunities, benefits, and advantages offered by the India's first Greenfield Industrial Smart City - AURIC (Aurangabad Industrial City). Addressing the gathering were Mr. Gajanan Patil (Jt. Managing Director, Aurangabad Industrial Township Limited), Mr. T. Parabrahman( Former Chairman, CII Karnataka), Mr. Prasad Kokil (MD, Sanjay Group) and Mr. Vijay Patil (General Manager, MIDC).

Aurangabad Industrial City (AURIC), a well-planned and one of its kind Greenfield smart industrial city is being developed across an area of 10,000 acres in Maharashtra as a part of Delhi – Mumbai Industrial Corridor (DMIC) and promoted by Aurangabad Industrial Township Limited (AITL), a special purpose vehicle and partnership between DMICDC (an agency of Government of India) and MIDC (the investment promotion and facilitation arm of the state government of Maharashtra).

The Delhi Mumbai Industrial Corridor (DMIC) is India`s most ambitious and one of the world's largest- infrastructure programme. Its goal is to develop new industrial cities as 'Smart Cities' and converge next generation technologies across infrastructure sectors. In the first phase, eight new cities are being created. With an estimated investment of US$100 billion, a high-tech industrial zone is planned, spread across six states.

Mr. Gajanan Patil, Jt. Managing Director, AURIC, said, “AURIC has attracted a record investment of Rs. 3,600 crore (Rs. 36 billion) in CY 2018 from investors. AURIC has allotted 52 plots comprising 507,164 sq. mt. Infrastructure packages of Rs. 7,947 crore (Rs. 79.47 bn) has been approved by the Government of India to help AURIC offer high-value, sustainable infrastructure that will support long-term economic vitality, a high quality of life, and a knowledge-based ecosystem with breakthrough innovation and efficiency. AURIC is expected to attract investment of Rs. 60,000-70,000 crore (Rs. 600-700 bn) from global players, which will generate employment for lakhs of people. The value of the output is expected to be exports of USD 11.6 billion and Industrial output of USD 46.2 bn”.

Investors include Hyosung Corporation of South Korea, the largest global spandex producer. Several global companies from the US, Europe, Russia, China, Japan and South Korea have also been considering investments in AURIC –  e.g. Fuji Silvertech Japan’s leading precast concrete manufacturing company. Companies closer home around AURIC include Skoda, Siemens, Bajaj, Johnson & Johnson, Crompton & Greaves, Perkins, Liebherr, Lupin, Endress + Hauser, Wockhardt & Endurance amongst others.

AURIC aims at offering high-value, sustainable infrastructure to support long-term economic vitality, a high quality of life, and a knowledge-based ecosystem with breakthrough innovation and efficiency. It is positioned to create over 150,000 jobs as employment along with housing for over 300,000 people including industrial workforce and their families while truly embracing the concept of live, work and play.

Besides a rail and highway network that connects the new city to major cities in India, AURIC is only 15 minutes away from the Aurangabad International Airport and provides direct flight connections to key hubs at Mumbai, Delhi and other Metro cities of India. The Jawaharlal Nehru Port Trust’s dry port and container terminal at Jalna is only 40 kilometres away. This will give industries at AURIC an easy access to India’s largest sea port of the country – the JNPT.

AURIC is India’s 1st ‘Walk-to-Work’ Smart Industrial City. The concept of ‘Walk to work’ which encourages housing options, workplaces, and shopping centres, to be developed in the vicinity of each other, will be implemented. This concept also includes walkable streets and blocks and reachable public spaces. This new integrated industrial township will be a congregation of office spaces, residences, hotels, large & small format retail, hospitals, schools, parks, entertainment hubs and lots more. 60% of the total land has been utilized for industrial purposes, while 40% is for residential, commercial, institutions, open spaces and social-cultural amenities. Thus fueling tremendous economic growth and creating a thriving, vibrant community to live, work and play. To implement this vision, a state-of-the-art smart technology will be employed, infrastructure will focus on clean, reusable and recycling methodologies, and industrial growth will be encouraged in targeted areas to build upon the industrial success of the region.

The Future-ready Smart Industrial City will showcase Smart Governance features such as e-LMS (Land Management System) which is specially developed for AURIC. This is the first-of-its-kind system in the country in which land allotment has been made simpler and efficient with a vision of ensuring 100% digital and paperless transactions. AURIC will provide a high grade and cost-efficient power source, with a reduced carbon footprint and compact design. Operated out of a GIS substation with a SCADA system, residents are assured 24x7 reliable power with an underground cable for every plot and ICT enabled “Smart + Connected” City components including Fiber optic infrastructure, Public Wi-Fi, AURIC e-Governance and ERP (AEE), Surveillance system, Internet of Things (IoT) for utilities, Multi-Services digital kiosks, Environmental sensors, e-Education and e-Healthcare, Smart poles, Cloud hosting.

Land Rover Introduces a 221 kW (300 PS) Petrol Powered Range Rover Sport from ₹ 86.71 Lakh



Jaguar Land Rover India, has announced the launch of the 2.0 l petrol derivatives of the Model Year 2019 Range Rover Sport in India, priced at ₹ 86.71 lakh. Available in S, SE & HSE trim, the new derivative is powered by a 2.0 l petrol engine with a twin-scroll turbocharger, that delivers a power output of 221 kW and 400 Nm of peak torque.

Rohit Suri, President & Managing Director, Jaguar Land Rover India Ltd. (JLRIL), said: “The success of the Range Rover Sport has been integral in driving demand for the Land Rover portfolio in India. The Model Year 2019 2.0 l petrol derivative should further increase the aspirational value of the flagship model at an attractive and exciting price.”

Combining driving pleasure, fuel economy and refinement with unparalleled capability, the Range Rover Sport is perfectly proportioned, enhancing the dynamic design and contemporary feel with features such as the sliding panoramic roof and powered tailgate. For 2019, the Range Rover Sport comes with a range of exciting features including three-zone Climate Control, Protect, Control Pro, Park Pack and Cabin Air Ionisation.

Seamlessly integrating technology in the overall driving experience, the Range Rover Sport comes with a contemporary interior and advanced features such as the Touch Pro Duo infotainment system, 31.24 cm (12.3) Interactive Driver Display and full colour Head-up Display.

Further details on the Range Rover Sport are available on www.landrover.in   

Land Rover Product Portfolio in India

The Land Rover range in India includes the Discovery Sport (starting at ₹ 44.68 Lakh), Range Rover Evoque (starting at ₹ 52.06 Lakh), Discovery (starting at ₹ 76.94 Lakh), the Range Rover Velar (starting at ₹ 72.47 Lakh), Range Rover Sport (starting at ₹ 86.71 Lakh) and Range Rover (starting at ₹ 181.86 Lakh). All prices mentioned are ex-showroom prices in India.

Jaguar Land Rover Retailer Network in India

Jaguar Land Rover vehicles are available in India through 26 authorised outlets in Ahmedabad, Aurangabad, Bengaluru, Bhubaneswar, Chandigarh, Chennai, Coimbatore, Delhi, Gurgaon, Hyderabad, Indore, Jaipur, Kolkata, Kochi, Karnal, Ludhiana, Mangalore, Mumbai, Nagpur, Noida, Pune, Raipur, Vijayawada and Surat. 

Kansai Nerolac Launches with Royal challengers Bangalore ‘Colour Trails Wall Designs’, Inspired through Photo-Walks


Kansai Nerolac Paints Ltd (KNPL), one of the leading paint companies in India launched their new offering, ‘Colour Trails Wall Designs’ with star players from the Royal Challengers Bangalore (RCB) team. The event witnessed Mr. Peeyush Bachlaus, General Manager Marketing, Decorative Paints, Kansai Nerolac Paints Limited launch the designs along with RCB players Captain Virat Kohli, Umesh Yadav, Yuzvendra Chahal, Dale Steyn and Tim Southee. Kansai Nerolac Paints is a team sponsor for Royal Challengers Bangalore (RCB).

‘Colour Trails Wall Designs’ by Kansai Nerolac is a unique theme-based photowalk initiative wherein each wall design is inspired by images clicked by photography enthusiasts across different places in India. These inspirations are then converted into wall designs for the home. This edition of wall designs takes inspirations from cities like Delhi (Rustic yet modern), Jaipur (Hawa Mahal), Kolkata (festivities and culture) and Mumbai (eclectic streets) to name a few.

Speaking on the launch, Mr. Peeyush Bachlaus, General Manager Marketing, Decorative Paints, Kansai Nerolac Paints Limited said, “At Nerolac, we constantly work towards creating experiences that transform, inspire and touch lives. The idea behind Colour Trails Wall Designs is to offer our customers an opportunity using inspiration from all round us to  personalize their home space. We have taken the photography route to bring alive one’s inspiration in the form of these wall designs and each design has a unique story to tell. It also makes a great gift for loved ones, to mark occasions and experiences shared together. We are happy to have launched this initiative with Royal Challengers Bangalore.”

Mr. Sanjeev Churiwala, Chairman of Royal Challengers Bangalore commented, “We are delighted to launch the Colour Trails Wall Designs initiative by Kansai Nerolac Paints Limited. As cricketers, the team is always travelling to new places, meeting new people and experiencing new cultures. This property is a perfect medium for them and others to bring to life their experiences in their homes.”

So far, 70 such Colour Trails have been organized by Kansai Nerolac across different parts of the country, connecting more than 1000 customers on ground and over 10 million users across social media platforms.

Goldmine’s ‘Forward’ Wins Social Media Mandate for Bank of Baroda


Established in 2014, Forward - Goldmine’s digital arm, has once again won the Social Media mandate in a multi-agency pitch and will service Bank of Baroda, India’s second largest public sector bank for another 3 years starting April 2019 across creative, media and ORM-led services.

Forward has launched the bank’s various digital platforms in 2016 and has helped Bank of Baroda connect with a new audience and push its new digital banking products. The agency has also assisted the bank leverage its partnerships with multiple events across the country.

Commenting on this development, Mr. O K Kaul, General Manager, Marketing, Corporate Communications & WMS of Bank of Baroda said, “We are delighted to extend our association with Goldmine as our social media partner. Thanks to their strategic insights, digital expertise, in-depth knowledge of the category, our visibility online is very strong today. The campaigns they have created and executed have helped us establish a good digital footprint within the banking sector. Being a technologically strong Bank, we particularly appreciate that Forward has deployed QuickMetrix, a strong social analytics and management software that supports all digital activities with relevant data.”

To this, Aastha Singla Co-founder, Forward, Goldmine said, “Servicing Bank of Baroda has always been a learning experience for us. Given the current dynamics, the next three years seem crucial especially with the three way amalgamation of Bank of Baroda, Vijaya Bank and Dena Bank, making it a financial powerhouse. With a positive outlook, we look forward to the challenges and opportunities that come in the near future.”

From the onset, Forward deployed QuickMetrix (India’s leading Social Media Listening and ORM software) for a strong technology platform to manage the Bank’s online presence across social platforms.  QuickMetrix is integrated with the Bank’s internal systems to build a seamless experience for its customers’ service requests originating from social media.

Pleased with this extension, Surendra S. Baliga, Co-founder, QuickMetrix said, “It is a matter of great pride for us that Bank of Baroda has deployed QuickMetrix since 2016 and has chosen to do so for the next three years. We have learnt a lot from Bank of Baroda and QuickMetrix will continue to evolve to serve India’s second largest Public Sector Bank.”

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