70% Of SOC Teams Emotionally Overwhelmed By Security Alert Volume

* Trend Micro Study Reveals The Human Cost Of Underpowered Security Operations Centers 

Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, today released results from a new study that reveals SOC and IT security teams are suffering from high levels of stress outside of the working day—with alert overload a prime culprit. 

According to the study, which polled 2,303 IT security and SOC decision makers across companies of all sizes and verticals, 70% of respondents say their home lives are being emotionally impacted by their work managing IT threat alerts. This comes as the majority (51%) feel their team is being overwhelmed by the volume of alerts and 55% admit that they aren’t entirely confident in their ability to prioritize and respond to them. It’s no wonder therefore that teams are spending as much as 27% of their time dealing with false positives. 

These finding are corroborated by a recent Forrester study, which found that “security teams are heavily understaffed when it comes to incident response, even as they face more attacks. Security operations centers (SOCs) need a more-effective method of detection and response; thus, XDR takes a dramatically different approach to other tools on the market today.” 

Outside of work, the high volumes of alerts leave many SOC managers unable to switch off or relax, and irritable with friends and family. Inside work, they cause individuals to turn off alerts (43% do so occasionally or frequently), walk away from their computer (43%), hope another team member will step in (50%), or ignore what is coming in entirely (40%).

"We're used to cybersecurity being described in terms of people, process and technology”, said Dr. Victoria Baines, Cybersecurity Researcher and Author. “All too often, though, people are portrayed as a vulnerability rather than an asset, and technical defenses are prioritized over human resilience. It's high time we renewed our investment in our human security assets. That means looking after our colleagues and teams, and ensuring they have tools that allow them to focus on what humans do best." 

With a staggering 74% of respondents already dealing with a breach or expecting one within the year, and the estimated average cost per breach USD$235,000, the consequences of such actions could be disastrous. 

“SOC team members play a crucial role on the cyber frontline, managing and responding to threat alerts to keep their organizations safe from potentially catastrophic breaches. But as this research shows, that pressure sometimes comes at an enormous personal cost,” said Bharat Mistry, technical director for Trend Micro. “To avoid losing their best people to burnout, organizations must look to more sophisticated threat detection and response platforms that can intelligently correlate and prioritize alerts. This will not only improve overall protection but also enhance analyst productivity and job satisfaction levels” he added.  

Trend Micro Vision One is the company’s answer to the struggles of SOC teams. Prioritized, correlated alerts using data from the entire IT environment help teams spend their time more wisely. Fewer alerts and stronger intelligence allow teams to regain balance in their work life and ease the emotional toll of security. 

Research methodology 

The study is based on interviews with 2,303 IT security decision makers in 21 countries. This includes leaders who run SOC teams (85%) and those who manage SecOps from within their IT security team (15%). All respondents came from 250+ employee companies. 

About Trend Micro 

Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro's cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, the platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 65 countries, Trend Micro enables organizations to simplify and secure their connected world. 

Bellatrix Aerospace Successfully Test Fires India’s First Privately Built Hall Thruster

Space Transportation company Bellatrix Aerospace has achieved a major technical milestone by testing India’s first privately built Hall Thruster, a highly efficient electric propulsion system for satellites. The company had earlier developed world’s first commercial Microwave Plasma Thruster, which used water as fuel, and for which the company had bagged an order from ISRO.

Innovative Low Power Hall Thruster being tested inside an ultra-high vacuum test facility

Tests were carried out at the sophisticated Spacecraft Propulsion Research Laboratory that the Bellatrix has setup at its lab located at SID-IISc. The company has setup Asia’s largest privately funded lab of this kind and houses state of the integrated vacuum test facility that simulates the harsh space environments that satellites have to withstand in space.

Rohan M Ganapthy, CEO & CTO said, “The company has been working on a this technology in stealth mode for the last 4 years to take it from the drawing board to qualification levels. Heaterless Cathode Technology is the key innovation that sets us apart from the competition by increasing life and redundancy and life of the system. We are also the first ones in the country to have designed it to operate efficiently at very low current levels. The entire team of Scientists and Advisors at our Electric Propulsion System Division have put in relentless efforts to prove this can be independently done in India by a private company from scratch”

This thruster is ideal for micro satellites weighing 50kg to 500kg and can be scaled up for heavier satellites. It also forms a critical technology for the Space Taxi that the company is developing. Bellatrix had earlier announced collaborations with other space companies, Satsure, Skyroot Aerospace and Dhruva Space on its ambitious OTV mission.

Compared to conventional chemical propulsion technologies, electric propulsion systems offer much higher specific impulse, viz., mileage, thus allowing satellites to carry more useful transponders and achieve 3X higher return on investment. The Hall Thruster technology was initially developed in Russia and today, is the most reliable and time tested electric propulsion system in the market. 

The current model of the thruster uses Xenon as fuel, however the company is working on other proprietary propellants that can make the propulsion system more compact and cost efficient. 

Rajesh Natarajan, a senior Scientist at EPSD division at Bellatrix who played a key role in this development talks about the journey through the development phase. “The major challenge around Hall Thrusters comes with the complex plasma physics and precise engineering involved in taming the plasma behavior. The plasma must be isolated from the walls of the thruster, hence, smaller the thruster, the more complex it gets. The way to achieve this is less known. We have succeeded in developed the smallest Hall Thruster in the country”, he explains.

The company explains that a suite of innovations have been brought in to achieve long life of operation, excellent performance and modular design for cubesat configurations. Additionally, Bellatrix Aerospace is also developing green chemical propulsion system that forms an eco-friendly high performance alternative for toxic and carcinogenic Hydrazine based propellants.

“With this addition to our portfolio, we are in a position to offer best in class electric propulsion systems. We have designed this thruster with numerous considerations that make it an ideal engine to power the major satellite constellations that will be launched during this decade. It offers class-leading performance and life. Our Microwave Plasma Thrusters offer the highest thrust-to-power ratio for heavier satellites”, added Rohan.

Bellatrix is working towards flying this thruster on a satellite mission in the coming months. This will open the company’s gateway to commercial market by end of this year.

About:

Bellatrix Aerospace is a full-suite solution provider of spacecraft propulsion systems based in Bangalore, India offering both chemical and electric propulsion technologies. The company has various recognitions for its innovation, including two National Awards.

QuEST Global to Build New Supply Chain Solutions on Casper Network

CasperLabs, a leading blockchain development company, and QuEST Global, a global product engineering and lifecycle services company, have partnered to build a series of blockchain-based solutions on the Casper Network. As per the partnership, the companies will initially focus on innovative supply chain models for customers across various industries.

With support from CasperLabs, QuEST will enable its end customers to seamlessly build Web3 applications on the Casper Network, which was purpose-built for organizations that require both enterprise-grade security and performance without compromising on decentralization. Casper's unique, proof-of-stake model introduces a more environmentally responsible model for blockchain consumption that significantly reduces the energy footprint of on-chain transactions compared to other blockchain networks.

Krish Kupathil, Head – Digital Innovation and Hi-Tech, QuEST Global, said, "We are extremely proud to partner with CasperLabs to develop blockchain-based solutions for our customers. At QuEST, we strive to develop outstanding engineering capabilities to build a scalable and sustainable organization that lasts generations. This partnership with CasperLabs will enable us to leverage Casper Network to develop innovative supply chain solutions for our customers across diverse industries. As a leading product engineering services company, we are committed to enabling our customers to Create The Frontier by offering industry-leading, next-generation, technology-based solutions. We look forward to collaborating closely with CasperLabs."

As a trusted thinking partner, QuEST has been working with the world's most recognized companies across industries for the last two decades. With its expertise in new-age technologies - like Blockchain, Deep Learning, AI, IoT, and ML - the company has been developing comprehensive engineering solutions to help OEMs, and tier-one suppliers seamlessly take the next step in their digital transformation journey and make products safer and more reliable.

"We are seeing a growing interest from large-scale organizations in both the public and private sector who recognize the unique models unlocked by Web3 technology," said Mrinal Manohar, CEO at CasperLabs. "As a worldwide organization with thousands of employees and customers, QuEST Global runs a series of comprehensive supply chain networks. We look forward to working with its team to develop new and innovative standards for the supply chain management."

AU Small Finance Bank Rolls Out Most "Comprehensive Employee Well-Being Programme"

* Vesting and exercise of unvested ESOPs of deceased employees can be exercised by the heir 

Extending a timely helping hand up to the families of employees who succumbed to Covid, AU Small Finance Bank has added certain key benefits to its three-pronged Prevention-Cure-Security (PCS) programme, making it one the most comprehensive employee welfare scheme among all the banks. This scheme aims to provide financial, medical and educational assistance to its employees and their families.  

The bank will provide monetary compensation equal to 50 per cent of the deceased employee’s fixed salary to the family for two years with a maximum cap of Rs. 5,00,000. Another important step taken by the bank is allowing the vesting and exercise of unvested ESOPs of deceased employees which can be exercised by the heir. Both these measures aim to provide support to the families of employees who succumbed to Covid. 

Additionally, the educational expenses of the deceased (due Covid and any other reason) employee’s children (up to two) will be borne by the bank on need basis till they complete graduation. Under this scheme, the bank will disburse Rs 5,000 every month per child for pre-graduation and Rs 10,000 per month per child during graduation. This education corpus will be sponsored by Sanjay and Jyoti Agarwal Foundation and the employees of AU Bank. The immediate family members of employees who have succumbed to Covid on or after April 1, 2021 would be eligible for all these benefits.  

The bank also has brought in a new initiative under the ‘prevention’ aspect wherein employees will be allowed to enroll their parents in Group Mediclaim Policy mid-term. 

These benefits will be in addition to the support the bank already has been providing through life insurance, medical insurance, and other statutory benefits such as interest free salary advance, paid Covid leaves, and additional financial support for medical emergencies. 

“We stand in solidarity with the world for the global loss of lives and livelihoods that it suffered in the last year. We have introduced the Prevention-Cure-Security (PCS) programme for our employees to provide financial aid and assistance to them, as our key sustainability initiative, this year. With the second wave of Covid-19 cases across India, we have seen many families left with no medical or financial assistance. While we understand that no financial help can compensate for the loss of loved ones, it is important for us as an organisation to stand together with the families to help them cope with their grief and prepare for a better tomorrow,” said Mr. Sanjay Agarwal, MD & CEO, AU Small Finance Bank. 

The Bank is taking proactive steps to enroll and will also pay the annual insurance premium for the first year on behalf of those employees who are not covered in any schemes including staff on third party payroll in programmes such as the Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri SurakshnaBima Yojana. 

In view of the rising number of Covid positive cases in the country, the bank has set up a separate cell within the HR Department for Employee Welfare, Wellbeing and Happiness to assist with proper isolation infrastructure, quality food, transportation and medication requirements. 

About AU Small Finance Bank: 

AU Small Finance Bank Limited (AU Bank) is a scheduled commercial bank and a Fortune India 500 Company. Starting its journey from the hinterlands of Rajasthan, today AU Bank is the largest Small Finance Bank with a deep understanding of the rural and semi-urban markets that has enabled it build robust business model facilitating inclusive growth. With 25 years legacy of being a retail focused and customer-centric institution, AU started its banking operation in April 2017 and as on 31st March 2021, it has established operations across 744 Banking Touchpoints while serving 20.2 Lakh customers in 15 States & 2 Union Territories with a talent base of 22,484 employees. The Bank has a net worth of ₹6,275 Cr, deposit base of ₹35,979 Cr and net advances of ₹ 34,609 Cr. AU Bank enjoys the trust of marquee investors and is listed at both the leading stock exchanges viz. NSE and BSE. It has consistently maintained a high external credit rating from all major rating agencies like CRISIL, ICRA, CARE and India Ratings. 

Renowned Numerologist J. C. Chaudhry Launches “JC Nummerro App” To Provide Predictions To Individuals And Corporates

* The app will enable people to know about their lucky and unlucky numbers and dates, compatibility with life partner, children, company, residential address, city, country, mobile, vehicle number, lucky gemstone etc. 

* It is available for download from Google and Apple Playstores in Android and IPhone versions respectively  

Noted Numerologist, Mr. J C Chaudhry, Chairman, Chaudhry Nummero Private Limited has launched the ‘JC Nummerro App’ combining 35 years of his experience in the field of Numerology. The app provides valuable insights and close-fitting predictions based on various numerology based parameters like psychic number, destiny number, name number, ruling number, etc. 

The App is available for download from Google and Apple Playstores in Android and IPhone versions respectively. 

Numerology is regarded as one of the most predictive sciences revealing the hidden correlation between the numbers and what is happening in one's life. The major advantage of the knowledge of numerology is to save time and take safety measures when bad times are anticipated. With the help of these systems, predictions are made for the person's past, present and future.  

The JC Numerro App aids the users with benefits like daily prediction, monthly prediction, yearly prediction, a better understanding of oneself, the best year for investment and more.  

Through this app, one can also know about your lucky and unlucky numbers and dates, compatibility with life partner, children, company, residential address, city, country, mobile, vehicle number, lucky gemstone. The app also provides insights according to the Chinese numerology i.e. Lo-Shu Grid helping people discover which numbers are missing and getting repeated in your grid and provides remedies for their effects. 

One can not only book personal consultation with Mr J C Chaudhry via the “JC Nummerro App” but can also book business consultation for your company’s numerological audits and can find out the compatibility of a person with his/her existing business partner or with a person, he/she is planning to make his/her partner in business. 

While commenting on the launch of the app, Mr. J C Chaudhry, Chairman, Chaudhry Nummero Private Limited said, ‘Numerology is an ancient practice and provides very fast and accurate predictions about an individual. This application is a culmination of my 35 years of experience in the numerology field. Making use of technology, we would like to reach to a wider audience to help them solve their queries and provide essential remedies to rectify the uncertainties of one’s future. We hope that this application will prove to be beneficial for the masses and will bring in peace and tranquility in their life.’ 

About Mr. J. C. Chaudhry, MD & Chairman- Aakash Educational Services Limited 

Mr. Chaudhry is a Numerologist par excellence. He has authored 2 books on numerology- “Advanced Numerology” & “Practical Numerology”. These books are an outcome of his 35 years of experience in numerology. He also received an appreciation award as a keynote speaker on “Role of Numerology in Business Growth & Personal Life” by Indo- European Business Forum. His informative videos on Numerology has garnered millions of views worldwide. His channel on YouTube has 542,405 subscribers and 81,530,016 views as on date.  

Mr. Chaudhry is an eminent author and influencer. His interest in other allied fields such as Vastu Shastra, Gems & Stones, Meditation, Motivation, have encouraged him to write other books such as “ABC of Vastu Shastra”, “Fundamentals of Vastu”, “You and Your Gems”, “Mudra- Healthy life at your fingertips”, “Success – Few Steps Away”, “Rungs of Ladder”, “Nature – The Best Cure”, “Chakras”, “Meditation & Subconscious Mind” and a book on quotes – “I think” made him multi-disciplined person, natural motivator, Vastu expert, numerologist and also expert in connected fields. 

About JC Nummerro App 

Numerology is one of the predictive sciences that reveals the hidden correlation between the numbers and what is happening in one's life. This science is usually based on relationship between different numbers like psychic/ date number, life path/ destiny number, name number, ruling number, etc. The major advantage of the knowledge of numerology is to save our time and take safety measures when bad times are anticipated. With the help of these systems, predictions are made for the person's past, present and future. 

This “JC Nummerro App” is the result of 35 years of practice of numerology by Mr. J C Chaudhry. The app provides you with insightful and all close-fitting predictions based on various numerology based parameters like psychic number, destiny number, name number, ruling number, etc. This app aids the users with benefits like: 

Daily Prediction: This part conveys what kind of work is suitable for you on a particular day. This will assist you in planning the suitable work for that day. 

Monthly Prediction: This part conveys how will be your current month and what are the lucky dates in that month for you. This way you can focus on the things that matter and plan beforehand against any obstacles. 

Yearly Prediction: This part conveys how will be the current year for you and which months and dates are lucky for you in every month. Instead of worrying and wondering about what year has in store for you, relax and get started with reading your yearly numerology forecast and plan your year ahead. 

Numerology About Yourself: In this section you will find out your psychic number (also known as birth date number), destiny number (also known as life path number), name number and how are the relationship amongst them. You will know about your lucky day, lucky colour, lucky dates and the dates that are required to be avoided. Get to know about your lucky years, your key characteristics, all about their vibrations, effects and influence on your life concerning love, family, career, finance and health. This section also reveals about the best year for investment, your lucky gemstone and lucky zone in the city for you. 

Numerology about your Relationships: This part reveals about your relationship with your life partner and your child. You will identify if the vibration of the relationship between your name and your date of birth is friendly or not. Also, know your lucky name numbers that will vibrate pleasantly with your date of birth and the alphabets that can be added in your name to make it a lucky name number. 

Numerology About your Compatibility: Here you can check your compatibility with your company, residential address, country, city, mobile number and vehicle number. You can also check compatibility between your child name and his/her date of birth. 

Book an appointment with Mr. J C Chaudhry: Have a face to face meeting or virtual meeting with the renowned numerologist, Mr. J C Chaudhry, and get guidance about your future. If you’re planning to start a new venture, get proper guidance and know about nitty and gritty as per numerology and take proper steps for attaining success. 

Numerology audit of Company: Get numerological audit done for your company and find out about the lucky and unlucky people in your organization so that you can accordingly plan strategy.  

Chinese Numerology about yourself: Learn about yourself as per Chinese numerology i.e. Lo-Shu Grid. Discover which numbers are missing and getting repeated in your grid. Learn about remedies for and their effects. 

Garware Hi-Tech Films Ltd. Reports A Resilient Q4FY21; Closes FY21 With Strong Growth

Garware Hi-Tech Films Ltd. (formerly Garware Polyester Ltd.), the flagship company of the Garware Group and a leading player in specialty Polyester Films in India declared its results for the quarter & year ended March 31, 2021 on May 27th,2021.

Highlights for Consolidated FY21 (April’20 - March’21)

* Garware Hi-Tech Films Ltd. Consolidated FY21 PAT at ₹ 125.95Cr, registers 46 % growth in FY21

* Revenue at ₹ 989.03 Cr (vs ₹ 924.83 Cr in FY20) up by 6.9 % on Y-o-Y basis

* Exports contributed ₹ 734.73 Cr (vs ₹ 634.52 in FY20) up by  ₹ 100.21 Cr on Y-o-Y basis

* Earnings Before Interest, Tax, Depreciation, & Amortization (EBITDA) for the year stood at ₹ 233.65 cr (vs ₹ 173.47 Cr in FY20) up by 34.7 % on Y-o-Y basis. EBITDA margin improved by 4.9 Bps on Y-o-Y basis.

* Net Profit for the period after tax at ₹ 125.95 Cr (vs ₹ 86.02 Cr in FY20) on Y-o-Y basis

* Earnings per share (EPS) at ₹ 54.21 up by 46.4 % on Y-o-Y basis

* ROE (excluding revaluation reserves) increased from 13.44 % in FY20 to 15.75 % in FY21

Highlights for Consolidated Q4 FY21 (January-March’21)

* Revenue at ₹ 287.74 Cr (vs ₹ 220.67 Cr in Q4 FY’20) up by 30.4 % on Q-o-Q basis

* Earnings Before Interest, Tax, Depreciation, & Amortization (EBITDA) for the Quarter stood at ₹ 58.11 cr (vs ₹ 45.85 Cr in Q4 FY20) reflecting 20.2 % EBITDA margin

* Net Profit for the period after tax at ₹ 31.80 Cr (vs ₹ 21.07 Cr in Q4 FY20) on Q-o-Q basis

* Earning per share (EPS) at ₹ 13.69, up by 50.9 % over the corresponding quarter in FY 2019-20

Unique Products, Global Patents, Focus on Value Added Films, Higher Share of Consumer Products, Focus on Export Markets, etc. have further improved the company financial results. The Company recorded highest ever consolidated revenues of ₹ 989.03 Cr in FY21 due to improved product mix & market mix. The company aims to expand window films category across safety, architectural and front window screen glasses.

Commenting on the results, Mr. S.B. Garware, Chairman and Managing Director, GHFL, said, “Over the past eight decades, we’ve built a strong reputation for quality, value addition, application-focused innovation. I am delighted with the way we have finished the financial year as the company delivered a fifth consistent year of strong bottom-line growth. As we continue to operate in an environment made difficult by Covid uncertainties, I would like to thank our employees for their commitment, customer focus and resilience that has helped us register our highest ever revenue even in tough times. Given the current visibility and a promising demand landscape, we foresee better times for us going ahead helping us realize our growth aspirations.”

The Company has recorded Consolidated Revenues of Rs.287.31 crore for Q3FY21 as against Rs.205.23 crore for Q3FY20 and Rs. 710.65 crore for 9MFY21 as against Rs. 713.79 crore for 9MFY20. The Consolidated Profit Before Tax was Rs. 64.29 crore for Q3FY21 as against Rs. 17.04 crore for Q3FY20 and Rs. 143.47 crore for 9MFY21 as against Rs. 98.85 crore for 9MFY20 up by 45.1%. The Consolidated Profit After Tax was Rs. 42.78 crore for Q3FY21 as against Rs.11.37 crore for Q3FY20 and Rs. 94.15 crore for 9MFY21 as against Rs. 64.95 crore for 9MFY20. The Q3FY21 earnings concall is scheduled on 05th Feb. 2021 at 03:00 pm.

Commenting on the results, Mr. S.B. Garware, Chairman and Managing Director, GPL, said, “PAT has increased by 217% QoQ underscoring our focus on world-class execution and operational excellence and satisfied with our robust third quarter performance. As a responsible Hi-Tech performance film manufacturing company, we seek to deliver long-term economic value to our stakeholders. Emphasis towards specialty products has fueled additional growth in the margins which has resulted in PBDT Margin reaching 22.75% in quarter 3 FY21. We continue our focus on growth & see a strong and secure future for the organization given this growth approach.”

About Garware Hi-Tech Films Limited

Garware Hi-Tech Films Limited (formerly Garware Polyester Ltd.) (BOM: 500655) is the flagship company of the Garware Group co-promoted by the Chairman and Managing Director Mr. S.B. Garware in the year 1957 along with the Founder-Chairman Late Padmabhushan Dr. Bhalchandra Garware. The company makes Hi-Tech specialty performance polyester Films in India and has its State-of-the-Art manufacturing facilities at Aurangabad in Maharashtra, India. GHFL is the pioneer and one of the largest exporter of Polyester Films in India and the winner of top exporters’ awards for continuous 33 years from PLEXCOUNCIL.

Garware Hi-Tech Films Ltd.’s (GHFL) manufacturing facility in Aurangabad is vertically integrated, from manufacture of polyester chips to the finished product of polyester films with four independent manufacturing lines and a business that spans the globe.  Polyester Films are used for variety of end-applications such as PET Shrink films for Label application, Low Oligomer PET films for insulation of hermetically sealed compressors motors, Electric motor insulation and cable insulation, sequin application films, TV and LCD screen application, Packaging applications etc. GHFL is also the market Leader and India’s only manufacturer of Sun Control window films for Building, safety and auto applications. The company has facilities for manufacturing various coated products and co-extruded products for specialty application, apart from its capacity to design the recipe for raw material of PET films to suit the end application of the product.  The company has also developed surface-protection films and Paint Protection Films designed to deliver the highest level of protection and impact resistance which has applications in many sectors.  

Agarbathi Industry Ensuring Livelihood To Over 4 Lakh Employees Despite COVID-19

Agarbathi industry is a labour intensive industry and the manufactures have been extending their support to the eco-system to tide over the COVID crisis stated All India Agarbathi Manufacturers Association (AIAMA). According to the association, despite the challenges the industry had provided employment to around 4 lakh people last fiscal. Out of the 4 lakh nearly 60% are in manufacturing and the others are in the support and marketing functions. 70% of the workforce in manufacturing is women.

Elaborating about the efforts of the industry, Mr. Arjun Ranga, President, AIAMA said, “As soon as COVID hit the industry, we rallied all our energies to keep the demand supply chain intact both at the domestic as well as at the export market. This push from the members of the industry coupled with the growing preference for yoga, meditation and well-being not only aided the industry to sail through the difficulties and recover fast, it also helped us to provide gainful employment to people. In many a households it was the member working in the Agarbathi industry who was supporting the rest of the family.”

“While the second wave and the resultant lockdowns have impacted the movement of goods and inputs, we are confident we will be able to continue to support the people involved in the industry.” added Mr. Arjun Ranga

Apart from being an employment generator, the industry is also taking efforts to help its talent get access to vaccines. Most of the members have rolled out an aggressive vaccination drives as well as welfare schemes to support their talent and safeguard their lives. 

With CAGR of around 3.6% the Indian Agarbathi has been growing significantly over the years.  The current retail value of the industry is around INR 7,500 crores and with revenue of INR 1000 crores in exports, the industry is also one of the leading exporters from the county. Despite COVID-19 induced challenges like lockdowns as well as logistic hurdles, the industry has managed to maintain its sales. The industry has regained nearly 90% of its pre covid sales.About All India Agarbathi Manufacturers Association (AIAMA):

Established in the year 1949 as MOMA (Mysore Oodabathi Manufacturers’ Association) by seven founding members, AIAMA has been working tirelessly towards encouraging the growth of Agarbathi industry and allied products in India. In the early 80’s, with increased interest and participation of manufacturers from other Indian states, MOMA was renamed to ‘All India Agarbathi Manufacturers Association’ (AIAMA). With head office in Bengaluru, at present more than 800 Agarbathi manufacturers across India are life members with AIAMA. The association has been aggressively working with the industry peers, policy makers and government bodies to address various issues of the Agarbathi and allied industries. Association’s efforts are not only restricted to the support and growth of Agarbathi industry in the domestic market, but also to drive for demand growth in the international markets.