Monday, July 12, 2021

Adaptation Of Scientific Agriculture Practices Will Drive Global Demand Towards Indian Cotton Farmer


Cotton continues to enjoy a pre-eminent and the most favoured fibre status for the textile industry globally as well as in India. It is an immensely important crop for the sustainable livelihood of the Indian cotton farming community. Presently, ~50 to 60 million people depend on cotton cultivation, marketing, processing and exports for their livelihood across India. In the last few years, the cultivation of cotton has been steadily declining globally and the world cotton farming experienced dramatic developments in 2020/21 due to an unprecedented pressure caused by the COVID-19 pandemic. 

While India is one of the largest producers of cotton in the world, Persistent adoption of unsustainable agricultural practices for the largely water-intensive crop, extensive use of fertilizers and pesticides as well as genetic modification has posed a significant challenge that needs immediate attention. There is still a gap in the yield level of cotton obtained in India vs. the global average. This means, higher land usage, but a lower income for farmers. Today less than 10 % of cotton is grown in a way that actively protects farmer’s economic growth and the environment. The latest trend suggests that the textile industry is becoming increasingly sensitive in choosing sustainable fibres to drive their textile supply chains since the outbreak of Covid-19. Hence, the buoyancy for a revival of Indian cotton farming is now driven by sustainable cultivation. 

Global scenario of cotton production and consumption 

As per the report of the United States Department of Agriculture, the global 2020/21 cotton farming is down 6.5 percent from the previous year to 114.1 million bales. The farmers of major cotton-producing countries (India, China, United States, Brazil, and Pakistan) are facing a challenge to compete with their counterparts both in terms of per hectare yield as well as produce. Adverse weather, an infestation of pink bollworm in cotton crop, lower prices, higher labour cost and policy uncertainty all contributed to the sharp decline. Additionally, the decreased synthetic fibre prices driven by substantially lower oil prices placed huge competitive pressure on world cotton markets. Normally, India produces up to ~ 3.5 crore bales of cotton, whereas China produces ~3.25, USA produces 2.5 crore bales followed by Brazil and Pakistan which produces ~1.5 and 0.65 crore bales respectively. Although the US and Brazil are major exporters of cotton, the production in both countries has been declining for two consecutive years. Resulting in inefficiency to support the global import demand and the high price of cotton. 

In terms of cotton consumption, Asian countries dominate the global market. Cotton consumption in China is around 4.75 to 5 crore bales which are higher than other countries of the globe. Whereas Pakistan’s cotton consumption is 1.35 crore bales. In recent years, strong growth of the spinning and textile industry has spurred the consumption of cotton in Bangladesh and Viet Nam. Bangladesh requires 90 lakhs to 1 crore bales of cotton and Vietnam needs 75 to 80 lakh bales. Due to their proximity to India, all these Asian countries import a substantial quantity of cotton from India. If we talk about the situation in India, the consumption of cotton is increasing here. Due to the phenomenal growth of the domestic textile industry in the last two decades along with the Indian spinning industry, the country has become one of the largest consumers of cotton i.e., about 23% of world cotton consumption. 

The brighter spot for cotton farmer globally 

The global acreage for cotton has been constant since the last few years. As the world economy recovers from the severe 2020 downturn, global cotton consumption is expected to grow by 4.1 percent in the 2021-22 season, substantially above the long-term average rate of 1.7 percent, according to the US department of agriculture (USDA). World cotton production is projected to grow 1.5% p.a. to reach almost 30 Mt in 2029. This growth will come from an expansion of the cotton area (0.5% p.a.) as well as growth in average global yields (1% p.a.), suggest OECD-FAO Agricultural Outlook 2020-2029. 

Indian cotton farming: At a glance 

India is one of the largest producers of cotton in the world accounting for about 26% of the world cotton production. The country has the largest area under cotton cultivation which is about 41% of the world area under cotton cultivation between 12.5 million hectares to 13.0 million hectares. The crop is mainly produced in Gujarat, Maharashtra, Andhra Pradesh, Haryana, Punjab, Madhya Pradesh, Karnataka, Rajasthan, Tamil Nadu, Odisha. Modernization of India’s cotton production—including the adoption of BT varieties—propelled India to the top among cotton-producing countries. Government policies such as giving greater thrusts to Research and Development in cotton encouraging the use of quality seeds and pesticides by providing subsidies for such inputs and price support measures have also contributed to changing the cotton scenario in India. 

Even with the impressive statistics of Indian cotton farming, the productivity per hectare has not reached its full potential over the years. Persistent adoption of unsustainable agricultural practices for the largely water-intensive crop, extensive use of fertilizers and pesticides as well as genetic modification has posed a significant challenge that needs immediate attention. There is still a gap in the yield level of cotton obtained in India vs. the global average. This means, higher land usage, but a lower income for farmers. 

Speaking about the sustainable practices for cotton farming in India, C K Patel, AGM - Agronomy & Marketing, Netafim India said, “To turn around the prevailing scenario, it is imperative to make farmers aware of healthier cotton practices and adaptation of scientific farming techniques. Promotion of environmentally sustainable practices for the mass-produced cash crop along with the scientific and egalitarian application of water, effective use of fertilizers and pesticides will help the Indian farmers to achieve sustainable growth in cotton cultivation. Studies have proved that the adoption of suitable technology such as micro-irrigation in cotton farming helps in reducing input cost and increases income by increasing the number of crops they grow. The benefits include an increase in the water use efficiency up to 80-90% owing to reduced water requirement, about 20% less consumption of electricity per hectare and up to 70- 80% increase in fertilizer use efficiency which translates into significant cost savings. Controlled application of water and fertilizer has resulted in increasing the productivity of the crops up to 50%. All these boost farmer income levels by more than Normal”. 

Besides the economic benefits, the technology boasts of a slew of social and environmental advantages as well. Since Indian farmers are receptive to take up any technology that brings certainty to their life and leads to an increase in income level, drip irrigation in cotton farming needs extensive propagation. The backbone of the success of micro-irrigation implementation in cotton cultivation remains in the awareness generation campaigns and effective training amongst farmers. 

Friday, July 9, 2021

Celebal Technologies, A Jaipur-Based Software Company Named As The 2021 Microsoft India Partner Of The Year


Celebal Technologies has won the prestigious Microsoft India Country Partner of the Year Award. They were honoured among a field of top Microsoft partners for demonstrating excellence in Customer Satisfaction and Technology Innovation using Microsoft Cloud Platform. Headquartered in Jaipur, Rajasthan, the company has been steadily building a global presence with its innovative offerings around Artificial Intelligence, Big Data, and Enterprise Cloud.

The Microsoft Country Partner of the Year Awards honours partners at the regional level that have developed and delivered outstanding Microsoft-based solutions during the past year. Celebal Technologies distinguished itself as a valued partner from thousands of partner nominations with their proven business impact across solutions ranging from Cloud to Productivity to Core Infrastructure.

“Being named 2021 Microsoft India Partner of the Year is an important distinction for us,” said Anupam Gupta, Co-founder and Head of US Operations, Celebal Technologies. “Our unique expertise lies at the Intersection of “Traditional Enterprise” and “Modern Cloud Innovation”. We shall continue to deliver on the promise of Intelligent Enterprise for our customers across the Globe”.

“Our relentless focus on innovation and a customer-obsessed culture has helped us achieve this award in India, which is one of the most prominent and fastest-growing regions for Microsoft Cloud,” added Anirudh Kala, Co-founder, Director, and Chief Data Scientist, Celebal Technologies. “This recognition is indicative of the trust placed in us. We shall continue to build resilient solutions aligned with the Microsoft Azure Cloud platform to solve the business challenges of tomorrow.”

This achievement is a testament to Celebal Technologies’ high level of expertise and innovation, along with a demonstrable track record of successful projects, effective engagement with local Microsoft office, and significant business impact for its customers.

About Celebal Technologies:

Celebal Technologies is a premier technology company that specializes in the fields of AI, Big Data, Data Science, and Enterprise Cloud. Their unique expertise lies at the intersection of “Traditional Enterprise” and “Modern Cloud Innovation”. Celebal Technologies drives continuous innovation to empower clients across various industries such as Manufacturing, BFSI, Consumer goods, e- Commerce, Life sciences, Education and Healthcare in their digital transformation journeys. They are a Microsoft Gold Partner with a strength of 800+ people serving customers across India, USA, Canada, UK, and Asia Pacific regions. 

CARE Ratings Upgrades Garware Hi-Tech Films Long Term Bank Facilities To CARE A+; Reaffirms CARE A1 Rating For Term Facilities


CARE Ratings Limited, a leading credit rating agency in India, has upgraded the long-term bank facilities rating of Garware Hi-Tech Films Limited to A+, Stable and reaffirmed the credit rating of short term bank facilities as CARE A1.

The revision in the ratings assigned to the bank facilities of Garware Hi-Tech Films Limited (GHFL; erstwhile known as Garware Polyester Limited) factors in the overall business risk profile driven by healthy topline growth and improved PBILDT margins backed by improved product mix and healthy capacity utilization.

The ratings also factors successful commissioning of the new product line, Paint Protection Film in April 2021 which is expected to further support revenue and margin growth going ahead. The rating revision also considers that GHFL will sustain the improvement in its financial risk profile, over the medium term, supported by steady cash generation.

Commenting on the ratings upgrade Ms Monika Garware, the Vice Chairperson and the Joint Managing Director said, “We continue to focus on growth & this improved rating is a continued validation of GHFL’s healthy performance. GHFL has capability to produce, around 10 Micron to 350 Micron different thickness Specialty PET films for various end applications. Ability to modify the features for various end applications of its products help GHFL to adequately cater the diverse needs of its customers. CARE Ratings has considered the strong operating metrics and competitive strengths of GHFL in the performance film industry.”

The long-term bank facilities Rs 422.08cr (enhanced from Rs 369.81cr) is CARE A+ / stable. For Short term Bank Facilities (Rs198.19cr) the rating is CARE A1.  

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.  

Tata Motors Partners With IndusInd Bank To Provide Exclusive Offers On Passenger Vehicles To Its Customers

 


Key Highlights:

* EMI per month per lakh starting as low as INR. 834/- at an attractive rate of interest

* 60% low EMI options for the first 3-6 months as per the customer choice and financial requirements

* Up to 90% financing available

* Flexible tenor from 1 to 7 years depending on the product and variant

* Non income proof funding available

* Scheme available on New Forever range of passenger vehicles*

In an effort to make its New Forever range of Tata Motors cars and UVs more accessible in these challenging times, Tata Motors, India’s leading automotive manufacturer, has rolled out exciting finance offers for its passenger vehicle customers in collaboration with IndusInd Bank. The company has been partnering with banks to provide lucrative offers for its customers. As part of this partnership with IndusInd Bank, the Company will provide the Step Up scheme where the customers can choose and buy from the safest range of passenger cars in the country, with a special low EMI option scheme for the first 3-6 months.

Under the Step Up scheme, customers can now avail EMI options lowered by 60% starting from INR 834/- per lakh per month, depending on the scheme and the products at an attractive interest rate. As per the scheme, the EMI payments will remain lower for a period of 3-6 months depending on the convenience of the buyer. This will be provided with non-income proof funding and flexible tenor options ranging from 1 to 7 years depending on the product and variant. Furthermore, while the purchase of the Harrier, Safari or Tigor gets a loan to value (LTV) of up to 85% on the ex-showroom price, purchase of Tiago, Nexon or Altroz will make the customers eligible to get an LTV of 90%.

Commenting on the roll out of these finance schemes offers, Mr. Ramesh Dorairajan, Head Network Management and Trade Finance, Passenger Vehicles Business Unit, said, “We, at Tata Motors, have always been committed to supporting our customers at all times. The recent Covid-19 upsurge has impacted everyone and to help our passenger car family in these challenging moments, we are delighted to be partnering with IndusInd Bank to roll out special finance schemes. This is in alignment with our constant effort to fast track the availability of safe personal mobility solutions to individuals and families at pocket friendly rates. We hope that these offers will boost customer morale and make the process of purchasing a car more convenient.”

Elaborating on the initiative Mr. T.A. Rajagoppalan, Executive Vice President, Passenger Vehicles, IndusInd Bank said, “At IndusInd, we believe in staying agile and responding to customer needs in keeping with emerging demand indicators. These innovative financial schemes aim at not only reducing the burden on the customer’s wallet during these tough times, but also allow them to prioritize commute in a hygienic, safe and comfortable environment. We take pride in joining hands with Tata Motors to roll out these schemes.”

To know more about offers and car buying options, call your nearest dealership or visit https://cars.tatamotors.com/. Customers can also enquire, request a test drive, make bookings, and select their preferred financing option via ‘Click to Drive’, Tata Motors’ end-to-end online platform, from the comfort and safety of their homes.

*The scheme is not applicable on Nexon EV

T&C apply

Bentley Systems Announces Seequent’s Acquisition Of Aarhus GeoSoftware


* Enriching Subsurface Digital Twins through Electromagnetic Remote Sensing for Water, Environmental, and Infrastructure Resilience

Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announcedthat its Seequent business unit has acquiredDanish companyAarhusGeoSoftware, a developer of geophysical software. The acquisition extends Seequent’s solutions for operational ground water management, and forsustainability projects involving exploration, contaminants, and infrastructure resilience. 

Aarhus GeoSoftware,aspinoff company fromAarhus Universityin Denmark, develops the software packages AGS Workbench,SPIA, Res2DInv, and Res3DInv for the processing, inversion, and visualizationof geophysical data from ground-based and airborne electromagnetic (EM),electrical resistivity tomography (ERT)remote sensing, and other sources.AGS software enables users to create 2D and 3D images of subsurface electrical resistivity. The outputs of the softwarecan be used to distinguish and differentiate subsurface materials and can subsequently be modeled in Seequent’s Leapfrog to aid in various subsurface investigations.

Thesoftware useselectric field measurements, collected at ground level orwithairborne sensors, to map the subsurface distribution of certain materials such as water, mineral deposits, and clays.Electrical resistivity allows a better understanding of the distribution of materials such as water, mineral deposits, and clays, and when the water contains other compounds such as salt, researchers and industry professionals can infer the distribution.

Thegenesis ofAGS software wasto ensure clean drinking water for future generations by mapping groundwater across Denmark. It is now used in many different areas,including locating subsurface faults and cavities to mitigate construction risk, in mining for investigatingorebodiesand waste rock and tailing processes, monitoring movements of groundwater and contaminants to help understand environmental impacts, modeling dam and tunnel stability, andassessing landslide risk to gauge asset resilience or construction plan impacts.Seequent will continue its tradition of collaborating withuniversities and research organizations worldwide  through ongoing engagement with Aarhus University for the development of AGS geophysical solutions.

Graham Grant, chief executive officer of Seequent, said,“The acquisitionwill add new geophysical data processing capabilitiesto our workflows to help advance subsurface investigation and modeling. AGS software, coupled with Seequent’sadvanced geologic modeling and analysis software, creates a key tool in helping understand and manage groundwater and assessing risk in infrastructure such as dams and canals.We’re excited about the new possibilities this opens up for our collective users worldwide, improving life-time digital twins.”

Toke Højbjerg Søltoft, chief executive officer ofAarhusGeoSoftware, said, “Seequent’s global reach will allow AGS software to positivelyimpact more projects worldwide.As we continue to develop solutions, ourusers will benefit from our tools being in Seequent’s ecosystem and workflow. We’re excited to join Seequent and to work together on oursharedvisionofhelping organizations make more informed andsustainable decisionsthrough abetter understanding of the subsurface.”

Samsung India Grants Scholarships To 544 Navodaya Vidyalaya Students Attending IITs & NITs; 150 New Students Added This Year


 ·         Samsung Star Scholar program has so far benefitted 800 JNV students

·         Program offers scholarship of up to 2 lakh for expenses related to tuition, examination, hostel and mess for one academic year, renewable every year up to 5 years

Samsung, India’s most trusted brand, has given scholarships to 544 meritorious students from Jawahar Navodaya Vidyalaya (JNV) schools who have qualified for the Indian Institute of Technology (IIT) and National Institute of Technology (NIT), as part of its Samsung Star Scholar program, fulfilling its vision of #PoweringDigitalIndia by empowering the next generation of Young India.

In its sixth year, Samsung Star Scholar program has so far benefitted 800 JNV students. Under this program, Samsung offers scholarships every year to meritorious JNV students pursuing full-term B. Tech/Dual Degree (B.Tech + M.Tech) course at any IIT or NIT.

The program offers a scholarship of up to 2 lakh for expenses related to tuition, examination, hostel and mess for one academic year and it can be renewed every year up to 5 years, seeking to financially support less privileged students from JNV schools who qualify to these prestigious engineering colleges.

“Samsung helps young people around the world gain access to better educational and learning opportunities as part of its citizenship vision of ‘Together for Tomorrow! Enabling People’. The Samsung Star Scholar program is an embodiment of our vision of #PoweringDigitalIndia that seeks to empower the next generation of young India. As we enter the sixth year of the Star Scholar program, we are excited to have supported these bright young talent who we wish to see as future leaders transforming the nation,” Partha Ghosh, Vice President & Head, Corporate Citizenship, Samsung India, said.

This year the program has granted 150 scholarships to new applicants from JNVs, of which 87 will begin their journey across different IITs and 63 at different NITs across India this year. In addition, scholarships have been renewed for the next year for 394 existing students. Recipients of renewed scholarships include 139 second year students, 171 third year students, 82 fourth year students and two fifth year students.

The selection of first-year applicants is based on their All India Rank (AIR) in JEE Main, however, to get a renewal of the scholarship for the 2nd – 4/5th year, students are required to maintain a Semester Grade Point Average (SGPA) or Cumulative Grade Point Average (CPGA) rating of 5 or above.

The Samsung India and Navodaya Vidyalaya Samiti partnership for ‘Samsung Smart School’ program, which is aimed at providing digital education to less-privileged students from rural backgrounds, began in 2013.

Samsung is adding smart classes to 80 new JNV schools, taking the total number of JNV schools in which Samsung has set up smart classes to 625, impacting close to 500,000 students. So far, over 8,000 teachers have also been trained on how to use interactive technology to teach effectively, improving the quality of teaching and building capacity at JNV schools.

Every Samsung Smart Class is equipped with an interactive Samsung Smartboards, Samsung tablets, a printer, Wi-Fi connectivity and power backup.

To learn more about the ‘Samsung Star Scholar’ program, please visit Samsung’s website https://www.samsung.com/in/microsite/sapne-hue-bade/star-scholar/

Samsung Newsroom Link: Samsung India Grants Scholarships to 544 Navodaya Vidyalaya Students Attending IITs & NITs; 150 New Students Added this Year Under Samsung Star Scholar CSR Program.

About Samsung Electronics Co., Ltd.? 

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the world of TVs, smartphones, wearable devices, tablets, digital appliances, network systems and memory, system LSI, foundry and LED solutions. For latest news on Samsung India, please visit Samsung India Newsroom at http://news.samsung.com/in. For Hindi, log on to Samsung Newsroom Bharat at https://news.samsung.com/bharat. You can also follow us on Twitter @SamsungNewsIN

Tata Consultancy Services Revenues Miss; Deal Intake Remains Solid

 


¦    Revenue growth missed expectations due to a sharp decline in the India business (-14.1% QoQ due to the second Covid wave). Revenue grew 2.4% QoQ in CC terms in Q1 (ex-regional markets, grew 4.1%). EBITM declined 130bps QoQ to 25.5% due to salary hike.

¦    Revenue growth was broad-based, driven by Life Sciences & Healthcare (7.3% QoQ CC), Technology & Services (5.0%), Manufacturing (4.8%), Retail & CPG (4.4%) and BFSI (3.1%). All geographies, except for India, posted sequential growth.

¦    Management remains confident about the revenue growth trajectory in FY22 on broad-based demand, strong deal intake (USD8.1bn in Q1; 17% YoY), healthy deal pipeline, and traction in cloud, cyber security, analytics and enterprise application services.

¦    We lower our FY22/23/24 EPS estimates by 1.3%/0.1%/0.1%, after factoring in Q1FY22 revenue miss. TCS is well-positioned to benefit from the strong demand environment, acceleration in cloud adoption and digital transformation opportunities. However, revenue miss and rich valuations will weigh on stock performance. Maintain Hold with a TP of Rs3,500 (28x Jun'23E EPS).

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