Toyota Kirloskar Motor Unveils Improved Innova Crysta and Fortuner

Key Highlights

*  Innova Crysta available in the price range of Rs. 14,93,000 and Rs. 22,43,000 Ex-showroom

*  Innova Touring Sport in the price range of Rs. 18,92,000 and Rs. 23,47,000 Ex-showroom

*  Innova is a market leader in its segment since launch in 2005 sold over 8,00,000 units

*  TKM sold over 2,25,000 units of Innova Crysta since launch in 2016

*  Fortuner available in the price range of Rs. 27,83,000 and Rs. 33,60,000 Ex-showroom

*  Fortuner a market leader in its segment since its launch in 2009 sold over 1,50,000 units

*  Ex-showroom prices above are same across the country

Standing strong by its ‘Customer First’ philosophy, Toyota Kirloskar Motor (TKM) today announced the launch of the improved Innova Crysta and Fortuner. While the Innova Crysta launched in May 2016 has been the undisputed leader in the MPV segment known for its luxurious features, comfort, safety and powerful performance, the Fortuner with its bold design and imposing presence gives a distinctively new driving experience, delivering Toyota’s legendary promise of Quality, Durability and Reliability (QDR) and off-road prowess.

Keeping in mind the evolving customer needs and preferences, the Innova Crysta and Fortuner have been improved in the areas of comfort and interiors. Speaking on these improved versions, Mr. N. Raja, Deputy Managing Director, Toyota Kirloskar Motor Pvt. Ltd said, “At Toyota, we truly believe in ‘Customer First’ philosophy and listen to our customers’ voice, continuously striving and innovating to make ever better cars and offer the best products and services. In line with the feedback from customers we are happy to incorporate our customer preferences in select grades of the Innova Crysta and the Fortuner in terms of interiors and comfort. With changing lifestyles people are spending more family time on road trips during weekends and thus car interiors and comfort features are emerging to be important parameters among car buyers. We thank our customers for their unrelenting support and trust that these improvements will further enhance and delight our esteemed customers.”

*  New features in Innova Crysta

·         Option of New Ivory leather upholstery

·         Perforated leather seats

·         Embossed “Crysta “ insignia

·         Heat Rejection Glass

·         USB Fast Charging Port

*New features applicable in select grades (Diesel variants only)
*Innova Touring Sport will get enhanced with Heat Rejection Glass and USB Fast Charging Port

*  New features in Fortuner
·         Option of new Chamois interior color

·         Seat Perforation

·         Heat Rejection Glass

*New features applicable to (4X2 AT, 4X4 MT & 4X4 AT diesel variants only)
The Innova often referred to as the segment creator, has maintained a leadership position since its launch in India way back in 2005, continuing to be the most preferred MPVs in the country with a segment share of over 40%. The Fortuner with its tough and cool image has emerged as the most popular vehicle, dominating the SUV segment since its launch in 2009. It is well recognized for its best in class durability, on-road comfort and off-road prowess currently with segment share of close to 70%.

The Data Literacy Project Announces Advisory Board to Support the Drive for a More Data Literate Society

Today the Data Literacy Project, the community dedicated to making society fluent in data, is announcing the launch of its Advisory Board with eight key appointments: Jordan Morrow, Qlik; Paul Malyon, Experian; Jane Crofts, Data To The People; Rahul Bhargava, MIT; Meri Rosich, VISA ; Chantilly Jaggernauth, Millennials and Data; Ben Jones, Data Literacy, LLC; and Alan Schwarz, CEO of DataPhi Communications, LLC.

The Advisory Board brings together global data leaders recognized for their knowledge of and contribution towards helping individuals and organizations to strategically harness and succeed with data every day. Their collective experience enables the Board to provide strategic council for every stage in an individual or organization’s data literacy journey: from supporting education in schools and career development for young people, to rolling out data literacy programs and designing the data strategies at some of the largest organizations in the world.

An essential skill in the Fourth Industrial Revolution, data literacy empowers everyone to ask questions of data and machines, build knowledge, make decisions and communicate its meaning with others. The Data Literacy Project, which was launched in October 2018 by founding partners Qlik, Accenture, Cognizant, Experian, Pluralsight, Chartered Institute of Marketing, and Data to the People, aims to create a more data literate society and place data literacy at the heart of individual and organizational success.

The independent group of global data literacy leaders joining the Advisory Board will provide impartial, third-party strategic counsel and direction in support of the Project’s three commitments:

Inspiring major organizations globally to make data literacy an imperative;
Creating the most accessible and comprehensive global data literacy educational resource ecosystem; and
Empowering educational institutions globally to place data literacy into the mainstream curriculum.

“It is testimony to the immense importance of data literacy that we have brought together this group of influential data leaders to help us shape the roadmap that will enable the Data Literacy Project to deliver against its mission of creating a more data literate society,” said Jordan Morrow, Chair of the Data Literacy Project Advisory Board and Head of Data Literacy at Qlik. “As the Project’s community continues to grow, their expertise and experience will be critical to ensure we’re able to practically support individuals and organizations in improving their data literacy.”

The Board Members include:

·         Rahul Bhargava, researcher and technologist specializing in civic technology and data literacy at the Massachusetts Institute of Technology (MIT)

·         Jane Crofts, Founder of Data To The People and Creator of Databilities

·         Chantilly Jaggernauth, the Founder and CEO of Millennials and Data (#MAD)

·         Jordan Morrow, Global Head of Data Literacy, Qlik

·         Ben Jones, Founder and CEO of Data Literacy, LLC and Instructor in Data Visualization Theory at the University of Washington

Toyota Kirloskar Motor Celebrates 20 Years in India - Creating a cleaner, Greener and Safer Tomorrow

Toyota Kirloskar Motor, the leading automobile manufacturer globally is celebrating 20 years of offering ever better cars to the customers of India. Toyota’s focus in India has been steady towards sustainable growth and to remain competitive with best of safety, comfort, luxury, quality and after sales services, through globally acclaimed models, to further enrich customer trust & confidence. Toyota has been winning hearts with its legendary segment leading products like Qualis, Innova, Fortuner and Corolla backed by the global QDR philosophy. Toyota Kirloskar Motor’s vision, philosophy and guidelines are true reflections of its commitment for a sustainable future.

Toyota primarily focuses on solving larger issues faced by the nation than just manufacturing world class cars. This thinking way drives their production system, products and services, national campaigns and all daily operations ensuring low emissions, fuel saving, energy conservation, safety as a prerequisite.

‘Customer First Philosophy’
Toyota has been listening to customers and constantly evaluating the rapidly changing needs of Indian Car customers to offer the right product to the Indian market. Since the launch of its multi-purpose vehicle the `Qualis' in India in 2000, the company has been focusing on evolving customer aspirations in India. The Company has been constantly upgrading its products and introducing newer innovations and technologies in the Indian Market. Toyota has continuously pursued to be Number One in Customer Satisfaction with every product milestones ‘Launch of Toyota Camry in 2002’, ‘Launch of Corolla in 2003’, Launch of Innova in 2005, Launch of Fortuner in 2009, Launch of Etios in 2010, Launch of Innova Crysta in 2016 and Launch of Yaris in 2018. With diverse product lineup, Toyota has endeavored to improve its standards in terms of providing the best quality, unbeaten safety, performance, fuel efficiency and unmatched comfort in every segment.

Customer First has been the key guiding principle for Toyota in its successful journey in India, to ensure a safe, convenient and hassle free driving experience to customers Toyota Kirloskar Motor launched TOYOTA CONNECT INDIA, in 2017 a smart phone application

based connected services which caters to customer’s mobility & ownership needs in a personalized manner. TOYOTA CONNECT INDIA is a fully integrated cloud based connected service platform supported by a dedicated & specialized call center, Toyota’s dealer networks and service providers.

‘Safety Leaders’
In response to a rapid increase in traffic accidents in urban areas of India and prioritizing Customer Safety, Toyota is the first auto manufacturer to have standardized airbags across all grades in all models in India in 2015. Further, ABS & EBD has been standardized [with the launch of new Platinum Etios & Liva, since Sep 2016], reinstating the importance of safety. With Yaris, Toyota Kirloskar Motor [TKM] has underpinned commitment to safety by being the first in the segment to offer 7 SRS airbags – (D+P airbags, Side airbags, Curtain Shield Airbags (CSA) and knee airbag) across all variants in the new Yaris in 2018. Toyota continuously strives to develop advanced safety technology and apply them in its vehicles. Aligning with Toyota’s global philosophy - Toyota Kirloskar Motor being a Safety Leader, have implemented various safety initiatives by engaging with stakeholders – Employees, Dealers partners & Supplier partners through a 3-dimension concept of Manufacturing Safe Cars, Developing Safe Drivers & Building Safer Environment.

There is one fatal accident in India every 4 minutes which means that 1.4 lakh such accidents take place every year. To create a safe driving culture in the country Toyota launched its first driving school in Kochi in 2015. Toyota Kirloskar Motor has launched 11 other driving schools at Kochi, Lucknow, Hyderabad (two), Chennai (two), Kolkata, Faridabad, Vijayawada and Surat. As part of the brand's 'Safest Car with Safest Driver' mission for road safety, it plans to have 50 such schools across India by 2020.

‘Eco -Consciousness’
In addition to making ever better cars, Toyota is committed towards a greener tomorrow and establishing a future society in harmony with nature. Toyota being a leader in the environmental stewardship started its journey towards greening its energy source since 2015-16 and has made substantial step-up over the years. Guided by Toyota’s ‘Global Environmental Challenge’ 2050 in line with the United Nations Sustainable Development Goals, till January ‘19 [in FY 2018-19] - Toyota Kirloskar Motor (TKM) successfully sourced 87% of electricity from renewable source of energy for its operations in Bidadi facility. Toyota has been recognized for its sustainable growth with its core belief “Ever-Better Cars with Ever-Better Technology for an Ever-Better Environment”.

‘Green-Manufacturing’
TKM sources clean energy and adopts smart manufacturing systems towards Toyota’s ultimate global mission of ‘Zero Carbon Emission through various initiatives like adoption of reverse refrigeration system, centralized control of chillers, adoption of smart ACs, TKM has been reducing significant quantity of Co2 releases over the years. Recognising these efforts on reduction of emission in TKM’s manufacturing plant with key contributor being optimisation of renewable energy, TKM was recognised as a “Model Plant”. TKM has established their Plant 2 with an ECO factory concept and implemented ECO friendly technologies like Servo press (40% energy reduction), Water based painting technology (Reducing VOC emission by 50%). Through its philosophy of “KAIZENS”, TKM drives continuous improvement in its environmental performance with active participation of employees in bringing the change.

‘Energy Security’
The company has also been vesting enormous efforts to reduce its energy consumptions through controlling and reducing daily energy consumption in each of the operational processes instilling stringent & systematic monitoring to track energy usages. In FY 2018- 19, 76% of the Water consumed in the Manufacturing Facility was recycled water and only 7% of fresh water was consumed. As pioneered makers of eco-cars leading the way for a better tomorrow, Toyota recently launched The All New Camry Hybrid Electric Vehicle. Toyota’s strong hybrid technology not only aims at creating harmony with man, nature and machine, but also positioned as the future of eco-mobility. The Camry Hybrid or self- charging electric vehicle is a strong hybrid and the only hybrid which is locally manufactured at Toyota Kirloskar Motor’s second plant located at Bidadi [Bangalore, Karnataka] in India.

Mr Masakazu Yoshimura, Managing Director, Toyota Kirloskar Motor said “We would like to thank our customers, our vendors, our people and the Government for the relentless support and trust in the company over all these years. The inspiration from all  our partners has been instrumental in our growth in India. Toyota globally believes in creating a smart mobility driven society with integrated approach connecting People, Vehicles and the Society. At Toyota, we are constantly challenging ourselves to create new ways to move and connect our customers. India is a very important market for us, we have been continuously striving to bring in newer innovations and technology to cater to the discerning taste of customers. All through this long journey, our products have stood the test of time being appreciated for the value it offers to customers.

Toyota's renowned reputation of Quality Durability and Reliability (QDR) has led our steady growth in the Indian automotive market. We are proud to declare that over 1.5 million Indians are part of the ever growing Toyota family.

We also strive towards developing a more sustainable future and being pioneers in the Hybrid Technology is our first step towards this movement. Through initiatives focused on education, community development and the environment, we aim to create a company that works in harmony with nature and society."

Wipro Lighting and Mapiq Announce Partnership for Smart Workplaces

Wipro Lighting, part of Wipro Enterprises Limited and Mapiq, The Netherlands have entered into a strategic partnership to deliver a superior end-user experience in the area of Smart Workplaces.

Wipro Lighting, a pioneer in smart lighting products in India, is one the largest lighting companies in the country. It is synonymous with innovative lighting solutions for indoor and outdoor across many different industries, such as retail, commercial offices, healthcare, and others. Wipro’s tremendous depth in lighting knowledge and collaborations with international lighting and technology companies led to the launch of  Internet of Lighting (IoL)TM in 2018. In October of 2018, Frost & Sullivan recognized Wipro with the “Connected Lighting Company of the Year” award.

“We're going to see a rise in smart building world with a focus on the end-users. We believe that this partnership can take us to the next level when it comes down to really understanding the needs of employees and support them during their workday. A productive, happy employee is the foundation for the biggest ROI for a company.” said Anuj Dhir, Vice President & Business Head, Commercial Lighting Business of Wipro.

Mapiq is a Dutch scale up and frontrunner in the development of smart building platforms. With headquarters in Delft, The Netherlands it creates a unified, cloud-based platform that helps optimize workspaces and activate the true potential of employees. Mapiq is a software platform that shows your office building in an interactive 3D map. Employees can use Mapiq to book rooms, find their way around the building, search for free workplaces, find their colleagues, and much more. It works like personalized Google for Smart Workplace.  Facility managers and building owners can use data collected by Mapiq to make well thought out decisions about their office spaces.

“The workspace has become more open and dynamic than ever before. Being able to work anytime, anywhere, provides great flexibility. However, this way of working often decreases the amount of face-to-face contact in the office. Technology with its unique twist, brings people and teams back together,” said Sander Schutte, Founder & CEO of Mapiq.

Wipro will implement Mapiq into their of  Internet of Lighting (IoL)TM - Smart Building Proposition. For Mapiq this partnership represents the global ambitions of the company. The agility and innovation from a Dutch scale-up and the experience and service from one of the most recognized technology companies is promising formula for a global roll-out.  The first Smart building in India arising from this partnership is expected to go live before summer 2019.

Tata Motors’ Introduces ‘SAMARTH’ Program for Commercial Vehicle Drivers in India

Key highlights:

·         This program will be executed by TATA AIG, Oriental Insurance Company, ICICI prudential, TATA Mutual Fund and Toppr Technologies Private Limited (Toppr), across India for all TATA CV drivers and owner drivers

·         Over 5 lakh drivers may avail benefit from this program every year

·         Drivers enrolled under Swasthya Samarth may avail 2 comprehensive health checkups covering 6 health profiles/57 tests & INR 50,000 hospitalization coverage for drivers and owner drivers per year, per vehicle and renewable every year

·         24*7 telephonic assistance for health related queries on toll free number 1800-4254033

·         Drivers enrolled under Surakshit Samarth may avail Accidental Death or Disability Cover up to Rs.10, 00,000/- per year, per vehicle for drivers and owner drivers

·         Drivers enrolled under Sampatti Samarth may avail Nationwide Financial Literacy Camps to encourages investment habits among drivers and owner drivers through SIP

·         Drivers enrolled under Siksha Samarth may avail online tutoring and career counselling for children of all enrolled drivers and owner drivers. Meritorious students of customers, owner-drivers and drivers in Class 8 to Class 10 who are eligible under the scholarship scheme of Tata motors will receive one year free subscription of Toppr for relevant academic year.

Tata Motors, India’s largest commercial vehicle player today launched a first-of-its-kind Pioneer program, with an aim to acknowledge and promote the driving profession in the trucking space. Under this initiative, Tata Motors Samarth will endeavour to address four critical areas for the drivers’ well-being, which are presently identified as Swasthya (Wellness program), Sampatti (Finance program) and Siksha (Education program) along with Surakshit Samarth (driver on wheel insurance). The program will be launched PAN India and will attempt to reach out to more than 5 Lakh drivers every year.

Extending the benefits to the driver’s family and securing their future, Tata Motors along with Oriental Insurance Company has introduced Surakshit Samarth, which provides an accidental death or disability cover up to INR 10,00,000 per year, per vehicle for drivers and owner drivers linked to the Chassis, since 2011. Today, in association with Tata AIG General Insurance Company, Swasthya Samarth aims to provide health insurance products including 2 comprehensive health checkups covering 6 health profiles/57 tests and INR 50,000 hospitalization coverage, with an option to upgrade to family cover. The program will be linked to new vehicle sales and the policy will be issued by Tata AIG. TATA AIG will also be setting up free medical camps at Tata  Motors defined locations.

On the launch of TATA Motors SAMARTH program, Mr. Girish Wagh, President, CVBU, Tata Motors said, “True to the philosophy of connecting aspirations, we at Tata Motors are driving our efforts towards driver empowerment and welfare. Our program ‘SAMARTH’ is tailored to make the entire trucking profession dignified. We intend to cement our long-lasting relationship with our customers and their drivers to safeguard their health, ensuring overall wellbeing of their families and in the process uplift the quality of life for them.”

Along with healthcare benefits, Sampatti Samarth plans to encourage investment habits among drivers through its SIP offering by ICICI Prudential and TATA Mutual Funds, with a lock-in period of 3 years, as well as conduct financial literacy camps for drivers and owner drivers across India.Furthermore, Tata Motors has joined hands with Toppr and introduced Siksha Samarth. Toppr is a learning app for classes 5th to 12th that helps students prepare for every board, competitive and scholastic exam. Toppr personalizes learning by creating a unique path for each student based on their strengths and weaknesses. On Toppr, students can watch free video lectures, practice questions designed for them, attempt mock tests and get their doubts solved 24x7. More than 7 million students trust Toppr to learn better. Meritorious students of customers, owner-drivers and drivers in Class 8 to Class 10 who are eligible under the scholarship scheme of Tata motors will receive one year free subscription of Toppr for relevant academic year.

Apart from the grueling work schedule, extended periods away from home, commercial vehicle drivers and owner drivers have the additional pressure of healthcare costs. The launch of the all-encompassing initiative by Tata Motors is designed to positively impact the Commercial Vehicle community and work towards improving society’s perception of this profession.

Through TATA Motors Samarth Program, the company is providing a common platform for various industry stakeholders to reach out and address the Health, Education and Finance needs of drivers’ community via their customize product offerings.

Terms and Conditions of the respective Associates i.e. TATA AIG, Oriental Insurance Company, ICICI prudential, TATA Mutual Fund and Toppr Technologies Private Limited (Toppr) shall apply. Participants may contact Tata Motors Dealerships for any details pertaining to the program, including its respective terms and conditions, and enrollment therein.  

Sathya Kalyanasundaram Appointed Country MD at its Operations at Experian India

Experian India, one of the leading data analytics, decisioning companies and the first credit bureau to be licensed in India under the Credit Information Companies (Regulation) Act, 2005, has further fortified its senior leadership team. The company has announced the appointment of Sathya Kalyanasundaram as Country Managing Director, Experian India.

Sathya will be responsible for driving further growth of the overall India operations of Experian with a focused vision on vertical market strategy and strategic clients. He will leverage Experian’s global strength in leading the strategic development of Experian solutions for India, aligning with the company’s global product and industry leaders in Decision Analytics, Credit Services, Data Quality and Consumer Services. Experian India’s leadership team will report into him to implement the organisation’s business plans.

Sathya brings with him over 20 years of experience from Consulting, Finance and FinTech leadership roles. Most recently, he was the CEO of MobME Wireless Solutions Limited, a technology conglomerate and fintech solution provider in India where he was responsible for creating market strategies and formulating expansion plans including directing new product & portfolio development and conceptualizing MobME's customer interfacing solutions. Prior to this, Sathya led the India operations of global MNCs such as Scientific Games (a USD 3 billion diversified gaming company), and Texas Instruments (a USD 15 billion leader in semiconductors). He was also associated with the Confederation of Indian Industries (CII) as Senior Member - Economic Affairs Panel.

Commenting on the appointment, Ben Elliott, CEO Experian Asia Pacific said, “We are delighted to welcome Sathya to the Experian family. His extensive experience across a variety of sectors will ensure that we take Experian India to the next level. We are confident that his appointment to lead Experian will strengthen our presence in India, with a focus on building innovative solutions for India’s consumers.”

Sathya Kalyanasundaram, Country Managing Director, Experian India said, “Financial institutions investing in data and analytics have been changing the narrative on providing differentiated experiences for their consumers. I believe Experian India, being the pioneer in the field of data analytics and decisioning, has a tremendous role to play in this and I look forward to driving our growth strategy and taking the company forward as we embrace the opportunities ahead.”

Lustrum FY15-19 Saw Sharp Increase in Fresh Investment: Projects Today Survey

The 74th Survey of projects investment in India conducted by Projects Today indicates that during the five-year period FY15-19, 47,911 new projects were announced with a total investment of Rs 60,51,281 crore as against 43,876 new projects worth Rs 29,28,125 crore announced in the preceding five-year period FY10-14, a rise of 106.7 percent.

The buoyancy in announcement of fresh investment was observed across all major sectors except the Electricity sector, which recorded absolute decline both in number of new projects and investment committed therein. While fresh investment increased by more than 100 percent in the Manufacturing, Mining, Infrastructure and Irrigation sectors, the Manufacturing and Irrigation sectors saw less number of new projects announced during the latest five-year period ending 31 March 2019.

Though the Manufacturing sector attracted 1,325 less projects during the FY15-19 period, thanks to increase in the number of mega projects (with cost of Rs 1,000 crore or more), total fresh investment expanded by 130.5 percent from Rs 7,00,725 crore to Rs 16,15,456 crore. As a result, the share of Manufacturing in total fresh investment increased from 23.9 percent in FY10-14 to 26.7 percent in FY15-19. Among the sub-sectors, Fertilisers, Steel, Cement, Refinery and Electronics segments received increased fresh investment commitments during the FY15-19 period.

The FY15-19 period saw announcement of 253 mega projects. Of these, 218 were owned by private promoters. The preceding five-year period had seen announcement of 131 mega projects.

Reflecting the emphasis of the current government on infrastructure building, fresh investment intensions multiplied three times from Rs 11,46,208 crore in FY10-14 to Rs 34,09,300 crore in FY15-19. The sector comprising transport and social infrastructure saw announcement of 39,509 new projects in FY15-19 as against 33,145 projects announced during the FY10-14 period.

The extra emphasis laid by the Central government on expanding highways led to trebling of fresh investment in the Roadways from Rs 3,64,809 crore in FY10-14 to Rs 11,24,996 crore in FY15-19.

The Construction sector comprising Commercial Complexes, Industrial Parks and Real Estate saw a fall in number of new projects during the five-year period FY15-19. Though fresh investment commitments increased from Rs 2,18,439 crore in FY10-14 to Rs 6,42,657 crore in FY15-19, the twin-balance sheet phenomenon affected this sector the most. Further, demonetisation, GST and the RERA Act disrupted the basic functioning of the industry.

The Power sector, during the FY15-19 period, witnessed more stalling of the existing projects than announcement of new projects. Most of the large-size thermal power projects announced during the FY10-14 period could not make much progress due to non-availability of land, lack of finance and delays in signing of PPA agreements.

As against 639 thermal projects worth Rs 7,90,227 crore announced during FY10-14 only 98 new thermal projects worth Rs 2,19,568 crore were announced during FY15-19. On the other hand, new investment in renewable power projects (mainly Solar and Wind) expanded by 294.5 percent from Rs 92,760 crore during FY10-14 to Rs 3,65,953 crore during FY15-19.

Cumulative fresh investment in the Irrigation sector increased sharply from Rs 57,934 crore in FY10-14 to Rs 1,98,869 crore during FY15-19. Madhya Pradesh, Rajasthan and Telangana were the large investors in this sector.

The Supreme Court's decision to cancel 214 coal blocks allocated to developers, not only stalled fresh investments flowing into this sector, but also affected the functioning of power plants with an aggregate capacity of 28,000 MW. Though the Central government re-allocated or auctioned 86 coal mines, actual production has begun in only 23 mines as of December 2018.

The FY15-19 period saw announcement of 763 new projects worth Rs 1,88,272 crore as against 627 projects worth Rs 89,711 crore announced during FY10-14. The Private sector is involved in around 60 oil exploration projects and 25 coal mining projects.

Private Sector Investment: Showing signs of revival

Private investment after picking up in FY15 and FY16 slumped in FY17 and FY18 only to recover in FY19. However, all along the five years (FY15-19) private fresh investment remained higher than the lower figures seen in FY12, FY13 and FY14.

Policy paralysis and financial mismanagement saw large scale stalling of projects in the last three years of the FY10-14 period. Further, heavy borrowings and mismanagement of funds forced owners of such projects to default on their debts mostly borrowed from Indian banks. The resultant “twin-balance sheet” issue weighed heavily on financing the ongoing projects, which in turn forced even the genuine promoters to go slow on new projects announcement.

During FY15-19, total fresh investment by the Private sector increased by 55 percent (thanks to mega projects), however, the number of new projects fell sharply when compared to FY10-14 statistics. This indicates the uneasiness of small- and medium-size private companies that are still awaiting revival in domestic demand to chalk out their expansion plans.

Stalling of Projects continued in FY15-19

The Survey indicates that during the FY15-19 period 3,642 projects worth Rs 16,59,353 crore were put on the back-burner as against 3,791 projects Rs 10,94,945 crore in the FY10-14 period indicating an increase of 51.6 percent in toxic projects during the latest five-year period, FY15-19. Around 82 percent of the total projects investment vanished during FY15-19 was in the Manufacturing and Electricity sectors.

On the positive note, the total quantum of stalled projects after hitting the recent high of Rs 1,95,795 crore in the first quarter of FY18 dropped sharply to Rs 12,477 crore in the last quarter of FY19. This is the lowest quarter figure recorded in the last eighteen quarters.