Experts Suggest Newer And Advanced Treatment Therapies For Ankylosing Spondylitis

The prevalence of Ankylosing Spondylitis in India is currently around 1.65 million; estimated to grow at an annual growth rate of 2.95%, reaching 2 million in 2028[1]

Delayed diagnosis can lead to irreversible damage which may result in severe disability

Treatment options such as Biologics have dramatically transformed the lives of millions of AS patients worldwide

Bengaluru, October 29 2021: Affecting about 1.65 million in India alone, Ankylosing Spondylitis (AS) is a painful chronic inflammatory disease primarily affecting the spine and sacroiliac joint. AS is a type of arthritis that primarily affects the spine but can also affect other joints. With advanced treatment options like biologics, it can help in slowing down the structural damage progression caused by AS and aim at preventing bone fusion, which could be disabling.

Delayed diagnosis, leading to deferred treatment, has also emerged as a significant challenge. Patients usually tend to consult an orthopaedic or a physiotherapist before they reach a specialist (rheumatologist), which in most cases results in a delay by an average of 7 to 10 years. This can cause irreversible structural damage to the spine which can adversely affect a patient’s mobility and quality of life.

Dr. B. G. Dharmanand, Consultant Rheumatologist, Vikram Hospitals, Bangalore said, “Sometimes patients and even general doctors find it difficult to distinguish the most common initial symptom of Ankylosing Spondylitis (AS) which is back pain from other common causes for back pain. This usually leads to a delay in diagnosis. Lot of youngsters suffer from AS and it is an important cause of disability in this population.  So, it is very important that treatment for this condition is taken seriously. Around 10 patients are diagnosed with AS each week in a rheumatology clinic, with a male to female ratio of about three to one.”

In the past, traditional therapy such as physiotherapy or anti-inflammatory drugs were the only available treatment options. While they helped in reducing pain, it did not help in improving the quality of life. However, advance treatment options such as biologics have shown a sustained improvement and slowed down the radiological progression, allowing AS patients an opportunity to have a better quality of life. Biologics not only help reduce the inflammatory pain but also reduces the risk of other health conditions related to AS such as eye inflammation, cardiovascular diseases and even depression.

“When it comes to treatment, biologics are currently very effective in resolving symptoms and delaying progression. As doctors, we try and generate more awareness around this disease. Early diagnosis leads to correct and prompt treatment which will lead to better outcomes.”, added Dr. Dharmanand

When it comes to treatment, biologics are currently very effective in resolving symptoms and delaying progression. As doctors, we try and generate more awareness around this disease. Early diagnosis leads to correct and prompt treatment which will lead to better outcomes.”.

TenderCuts Reaches The Golden Milestone Of Opening “50th Store - Its Largest Flagship Outlet At Indiranagar”

TenderCuts, the fastest growing omnichannel meat and seafood major, is on a massive pan-India expansion mode and the brand opened its 50th store in the country. Within a year, TenderCuts has increased its retail presence by 70%  and manpower by 60%. 

The launch of TenderCuts’ 50th store in the cosmopolitan Bengaluru is pivotal in shaping the company’s growth strategy i.e having their presence in 8 cities by early 2022. Aiming to make Bengaluru the hub for the brand, this flagship store is all set to provide the widest opportunity of Customization and Personalization of a variety of meat and seafood under one roof. The brand that is constantly innovating itself, aims to provide a futuristic retail experience to its customers through its high-end store located at the 80-feet road at Indiranagar. The outlet, spread over 1300 sq. ft, reflects the brand’s promise of providing a unique and hassle-free meat shopping experience to its customers in Bengaluru.  

Speaking on the launch, Mr Nishanth Chandran, Founder & CEO of TenderCuts, “Having achieved the status of being market-leaders in Chennai and Hyderabad, we are excited to open our flagship store in Bengaluru. We have been continuously innovating on our stores and this flagship store comes as our commitment to reimagine the meat and seafood experience through innovation, creativity and design which further offer our consumers a unique shopping experience. This flagship store in Bengaluru will set a new benchmark in our endeavour to excel in providing the freshest and safest meat & seafood. The brand is currently on the count of 50 stores, and we feel zestful to gear up for the expansion across India with over 100 stores in the near future covering major cities. The expansion will also give boost to local employment.” 

TenderCuts being the only Government-funded meat and seafood company, is currently one of the very few brands in the country to continue its growth momentum breaking barriers amidst the pandemic and economic slowdown.  

About TenderCuts: 

TenderCuts a tech driven omni-channel Meat & Seafood Company, founded in 2016 by Nishanth Chandran, with a unique outlook on the process of meat and seafood retail. The company is FSSAI certified and provides fresh quality meat that complies with the standards of World Health Organization (WHO). TenderCuts is an innovative and a first-of-its-kind venture, which has brought a revolution in poultry farming and aquaculture in India. They offer the finest selection of chicken, seafood, mutton, and marinades that can be ordered online/ through the phone or at any of their TenderCuts retail experience stores in Chennai and Hyderabad and Bangalore. 

YES BANK Adds To The Festive Warmth With YES Family - A Proposition To Fulfil Every Family Member’s Needs

· Feature-packed proposition offers wide-ranging services and rewards to meet financial needs of entire family

· Benefits include priority servicing for whole family, huge savings and cashbacks, fee waivers, flexibility to maintain balance across family accounts and family privileges among other banking solutions

Celebrating togetherness this festive season, YES BANK has launched its YES Family proposition enabling customers to care for the well-being of everyone in their family – with bespoke services and privileges meant to be enjoyed together as a family.

Packed with unique benefits and exclusive offerings, YES Family has been thoughtfully curated to make everything from shopping and dining together to availing loans more convenient and rewarding for customers.

Among the key attractions of the proposition are: family healthcare benefits; dedicated Relationship Manager for the entire family; flexibility to maintain minimum balance across family accounts; free domestic ATM withdrawals, fee waivers on digital transactions; YES Rewardz points on banking transactions that can be transferred within the family, and exciting cashback and lifestyle offers, among other features.

The proposition is available across YES Prosperity, YES Premia and YES FIRST programs – each of which is designed uniquely to cater to different customer segments.

Commenting on the launch, Prashant Kumar, MD&CEO, YES BANK, said, “As family lifestyles witness a dynamic shift, we see enormous potential for family banking to evolve and keep up with the times. Recognizing that the financial needs and expectations of the modern family unit have changed, YES BANK has endeavoured to curate a program that reflects current realities and factors in practical considerations that come with intra-family financial interactions today. With YES Family, customers of varying income levels can collaborate and coordinate their spending together with their families, creating the opportunity for all family members to learn smart spending and fiscal responsibility. Through this proposition, we envisage increasing our monthly retail customer acquisition by 15% till December 2021.”

Discounted locker rentals, competitive interest rates on fixed deposits, recurring deposits, home loans and auto loans along with offers on dining and shopping are among other benefits built into the proposition.

The YES Prosperity Family proposition is available to customers who maintain a combined average monthly balance (AMB) of INR 50,000; YES Premia Family for customers with an AMB of INR 2 lakh or a Net Relationship Value (NRV) of INR 10 lakh at a family level* while  YES FIRST Family is available to customers maintaining AMB of INR 8 lakh or a NRV of INR 30 lakh at a family level*.

Pre-Booking Is Open For First All-Electric MINI In The Indian Market

* The first all-electric MINI. Charged with Passion.

* Pulsating Performance, Iconic Design, A Silent Revolution.

* #TheFirstAllElectricMINI #ChargedWithPassion #BIGLOVE #MINIIndia #MINI #MINIGoesElectric

MINI India will open pre-booking for the much-awaited all-electric MINI 3-door Cooper SE from 29 October 2021 onwards. The car can be exclusively booked online at shop.mini.in for INR 1,00,000 only.

Mr. Vikram Pawah, President, BMW Group India said, “The revolutionary design principle of the classic Mini established the basis for maximum interior space within a minimal footprint. MINI in its new avatar offers a modern re-interpretation of creative space usage and unique riding fun that became the original in the premium small car segment. Now, with the first-ever MINI Electric, MINI once again is the frontrunner in the urban mobility segment. Charged with passion, the all-new MINI 3-door Cooper SE will be the first all-electric premium small car in India, paving the way to a sustainable yet at the same time highly emotional driving experience. With pre-booking, our customers and MINI fans have a chance to secure the purchase ahead of the launch and be the first in the country to drive the all-electric MINI.”

The first all-electric MINI 3-door Cooper SE is inspired by its roots, progressive yet iconic, a true trailblazer. It is changing the face of mobility and continues MINI’s tradition of making creative use of urban space with its eye on the future. With no exhaust, it reduces carbon footprint and does its bit for the atmosphere. The all-electric MINI 3-door Cooper SE fuses the legendary go-kart feeling with instant torque and zero emissions. With 184 hp/135 kW and a maximum torque of 270 Nm the electric MINI sprints from 0-100 km in 7.3 seconds. Dynamic yet gentle the all-electric MINI offers an entirely new driving experience. It is powered with a battery capacity of 32.6 kWh and a driving range of up to 270 km. The car will be available in four unique paintwork colours - White Silver, Midnight Black, Moonwalk Grey and British Racing Green.

MINI has successfully established itself as a premium small car brand in India. Presently, the MINI model range includes the MINI 3-door Hatch, MINI John Cooper Works Hatch, MINI Convertible and the locally produced MINI Countryman.

MINI has established nine authorized dealerships in India – Bird Automotive (Delhi NCR), Bavaria Motors (Pune), EVM Autokraft (Kochi), Gallops Autohaus (Ahmedabad), Infinity Cars (Mumbai), Krishna Automobiles (Chandigarh), KUN Exclusive (Chennai), KUN Exclusive (Hyderabad) and Navnit Motors (Bangalore).

InsuranceDekho Registers Staggering Growth, Grows Business 2X In H1 FY22

* Partner presence in 1100 + cities covering more than 85% pincodes across India 

* Partner income has increased on average 4x within a year of coming onboard 

* Health business grew 6 times faster than industry Sep 2021 YTD 

India’s leading Insurtech startup, InsuranceDekho, grew at a staggering rate during one of the toughest business years in recent history. By building deep distribution across 1100+ cities and offering best-in-class products & customer service; the company has registered an impressive 2X growth year to date in FY22.  

At present, InsuranceDekho has a partner presence in 1100 + cities and covers more than 85% pincodes across India. Over the last few months, InsuranceDekho has built an impressive partner ecosystem with more than 35,000 advisors across the country. 

The width & depth of the partner ecosystem is a testimony to InsuranceDekho’s tech-driven & distribution focused business approach. InsuranceDekho's IDedge app offers an array of opportunities to help partners succeed. The support system spans from onboarding to last-mile sales enablement. It covers all aspects of training across all insurance products, demand generation support, policy issuance, post-policy support, and claims assistance. A direct benefit being reaped by the partners of InsuranceDekho, as a result, is that their monthly income has increased on average 4X within a year of coming onboard. It is a win-win for all - the customers who get exceptional service, the partner ecosystem and InsuranceDekho.  

InsuranceDekho.com, the B2C insurance platform grew 10X in H1 FY22 over the same period last year. The platform saw a 20X MoM spike in traffic in Sep’21 post the launch of its marketing campaign featuring Jeetendra Kumar of the ‘Kota Factory’ fame. 

This clearly reflects the phenomenal business growth that InsuranceDekho has witnessed across all products. The Health portfolio is growing at 110% YoY and the Life portfolio, which was launched earlier this year grew 3X QoQ in Q2 FY22. InsuranceDekho's health business grew 6 times faster than industry Sep’21 YTD. The company plans to further accelerate this growth in the coming quarters and grow 3X YoY by the end of FY22.  

Talking about the growth, Mr. Ankit Agrawal, Co-founder and CEO, InsuranceDekho, said, “This growth is testimony to our strategy of putting our customers and partners at the core of everything. The pandemic has created significant awareness about and a need for insurance across the country especially in Tier 2 and Tier 3 cities. We believe that this growing interest in insurance will only increase in the future" 

FADA Hails For Auto Dealer’s Protection Act In Indian Market

The Federation of Automobile Dealers Associations (FADA) released a Policy Brief to introduce Auto Dealers Protection Act in India.

After GM (2017), MAN Trucks (2018), UM Lohia (2019), Harley Davidson (2020), Ford is the 5th Auto OEM to stop domestic sales thus exiting a large and untapped India Market. Such exits adversely impact the interests of consumers who are often left with no avenues for after-sales services and with resale value of their vehicles nosediving. Ultimately, this casts an unfair burden on the Dealers who have to step in to ensure that their relationships with consumers are not ruined, while also facing the endless barrage of consumer complaints due to the OEM’s unilateral actions.

However, the plight and suffering of Dealers is an everyday issue that is often dismissed by OEMs in a business-as-usual manner. Automobile Dealers in India are predominantly small and medium enterprises (SMEs) which are either family-owned businesses or partnerships firms and have significantly lower bargaining power in comparison to their OEMs which in-turn are large corporations. The entrenched unethical and imbalanced power structures with OEMs have caused a great deal of anguish to Automobile Dealers as the existing laws are not adequate to protect their interests.

The Study

In light of this, FADA commissioned an in-depth analysis of the relationship between OEMs and Dealers in India, through a detailed study of various dealership agreements. Through this work, a comparative analysis of foreign dealership agreements and legal protections available to Automobile Dealers in different countries such as the USA, Australia and South Africa was also undertaken.

This analysis clearly shows that unlike the imbalanced Indian agreements, foreign agreements often have more balanced and comprehensive clauses on termination, indemnification, repurchase obligations and afford more flexibility to the dealers.

The detailed findings have been incorporated into a Policy Brief which is available at https://fada.in/press-release-list.php . The summary of the same is mentioned below:

·         Dealership agreements in India do not have a standardized term with certain agreements having tenures as low as 1 year. It takes anywhere between 3-5 years for a dealership business to break even. Short term of agreement is detrimental to the dealers as they do not give adequate opportunity to the dealers to recover the heavy investments made by them.

·         Indian dealer agreements also tend to have vague and broad grounds of termination that provide greater flexibility to OEMs, in comparison to dealers. This adversely impacts Dealers’ ability to negotiate during OEM exits, causes employment losses, and also affect consumers who are left with no recourse with respect to after-sales services.

·         Absence of repurchase obligations under the Indian dealer agreement, which would mandate OEMs to buy back leftover stock including vehicles, spare parts etc. in cases of termination, leads to added costs on the Dealers.

·         OEMs are free to open multiple dealerships in the same territory without giving any rationale to the existing dealers. This makes planning difficult and significantly affects the dealer’s ability to recoup their investments.

·         Dealers are often made party to consumer complaints even though the liability may lie with the OEM, due to lack of clarity in indemnity provisions.

·         Dealers are not afforded the required flexibility in taking business decisions and they also have little to no role in deciding stock projections and targets in a particular financial year. There is very little consultation between the OEM and Dealer in this regard, and Dealers are often forced to accept the stock orders that the OEMs push them on to.

·         Dealers are also often forced with procurement and selling of accessories (such as spare parts, aesthetic additions, music systems etc.) consumables (including lubricants, paints etc.), loans and insurance from the OEMs themselves or from a short list of approved vendors. This leads to increase in dealer costs, the burden of which is eventually passed on to the consumers.

The Way Ahead

Based on comprehensive research on how the aforementioned issues are dealt with under foreign jurisdictions, it is clear that OEM-Dealer contracts in India are not balanced or equitable.

Commenting on the same, FADA President Mr. Vinkesh Gulati said, “Many countries in the world recognize the inherent power imbalance between OEMs and Dealers within the automobile sector and have enacted legislation to level the playing field. Unfortunately, the existing legal regime in India is inadequate to address these specific concerns of Dealers. While OEM-Dealer agreements are governed under the Indian Contract Act, the law does not contain any clear solutions for us.

India should also urgently consider the introduction of an Automobile Dealers Protection Act to make contracts more balanced and equitable. Such legislation should introduce robust contract enforcement and dispute settlement measures by incorporating a special authority with adequate representation from the Government of India, FADA and SIAM.”

The prevailing OEM practices are extremely problematic and against the principles of equity, justice, and good conscience. FADA hereby requests the intervention of Government of India to level the playing field between financially strong OEMs and the smaller automobile dealers.

JK Tyre Revenue Up By 31 Percent During Q2 Of FY 2021-22

Indian tyre industry major, JK Tyre & Industries Ltd. (JK Tyre) announced its un-audited results for 2nd Qtr.  of FY21-22.

Commenting on the results, Dr. Raghupati Singhania, Chairman and Managing Director, said, “JK Tyre has been attaining continuous sales growth despite partially disrupted market place. The sales in the replacement market registered healthy growth whereas institutional sales recorded a quantum jump during the quarter. JK Tyre’s continued thrust resulted in 35% rise in Exports.

The rising inputs costs impacted operating margins. This could be partially mitigated through enhanced volumes and selective price increases”.

The Company’s subsidiary - Cavendish Industries Ltd continues to contribute to revenue growth.

JK Tornel, the subsidiary in Mexico has also performed well with significant growth in revenues and profitability.

Good efforts on vaccinating the population of the country has led to economic recovery which indeed augurs well for the tyre industry in the coming period.

JK Tyre & Industries Limited

The flagship company of JK Organisation, JK Tyre & Industries Ltd is amongst the top 25 manufacturers in the world. Pioneers of radial technology, the Company produced the first radial tyre in 1977 and is currently the market leader in Truck Bus Radial segment. The Company provides end-to-end solutions across segments of passenger vehicles, commercial vehicles, farming, Off-the-Road and two & three-wheelers.

A global force, JK Tyre is present in 105 countries with over 180 Global distributors.  The Company has 12 globally benchmarked ‘sustainable’ manufacturing facilities - 9 in India and 3 in Mexico – that collectively produce around 32 million tyres annually. The Company also has a strong network of over 6000 dealers and 650+ dedicated Brand shops called as Steel Wheels and Xpress Wheels.

JK Tyre’s unwavering commitment towards innovation is reflected through its state-of-the-art global research and technology centre – the Raghupati Singhania Centre of Excellence - in Mysore, which houses some of the world’s finest technologies and techniques.

JK Tyre launched India’s first ever ‘Smart Tyre’ technology-and introduced Tyre Pressure Monitoring Systems (TPMS) which monitors the tyre’s vital statistics, including pressure and temperature. The company recently rolled out its 20 millionth Truck/Bus Radial tyre becoming the first and the only Indian company to achieve this milestone.

It is the only Indian tyre manufacturer to be included in the list of Superbrands India in 2019 for the seventh consecutive year. JK Tyre has been conferred the Sword of Honour for Safety across its plants by the British Safety Council, UK. The company entered the Limca Book of Records with the country’s largest off-the-road tyre - VEM 04.

JK Tyre is also synonymous with motorsport in the country. For over three decades, the Company has relentlessly worked towards shaping India’s positioning as the motorsport hub of Asia, developing the right infrastructure for the sport and promoting young talent in the arena.