Higher Indian Applicants In Foreign Universities Boost Demand For IELTS Coaching By 83%

 

* Computer Training Institute was the top draw among all education services

* Worlds’ second largest English-speaking country sees a 91% spike in searches for Spoken English classes

As the rush for admission in foreign universities gathers pace among Indian students, the demand for IELTS coaching and tutorials increased with maximum searches being generated from Punjab, states the latest Just Dial Consumer Insights.

IELTS coaching was among the top-3 most searched education services on Just Dial, India’s No.1 local search engine. The most searched education category on Just Dial was Computer Training Institutes, while English Language Classes and IELTS coaching were second and third, respectively.

Overall searches for education services saw a YOY growth of 90% while that for Computer Training Institutes grew by 94%, Spoken English Classes by 91%, and IELTS coaching by 83% across India’s 1000 towns and cities.

The rise in demand for IELTS coaching is in line with government figures that suggest that after a huge 45% drop in 2020 due to COVID, the rush of Indian students aiming for admission in foreign universities in 2021 was almost back to pre-COVID figures.

Just Dial’s latest insights also suggest that most of the demand for IELTS coaching and tutorials is being generated from Punjab. The number of searches generated from the four Punjab cities - Amritsar, Chandigarh, Jalandhar, and Ludhiana - was 30% higher than what was generated by Delhi. Among Tier-I cities, Delhi topped the demand list followed by Ahmedabad and Hyderabad.

Commenting on the latest Just Dial insights, Mr. Prasun Kumar, CMO, Just Dial, said: “It is encouraging to see how Just Dial has become the first port of call for all students, who are looking for specialised coaching and tutorial services across a wide range of subjects. We have been successful in aggregating online the entire offline coaching classes and institutes even in India’s Tier-II towns and cities. Our latest data suggests that demand for IELTS coaching in Tier-II was 56% higher than Tier-I. This signals the deep penetration the brand enjoys even in India’s hinterland across a wide range of services.”

Searches for Computer Training Institutes, which remained the top draw among education services, contributed to 60% of the total searches. YOY demand growth in Tier-I cities also stood at 60% but in Tier-II it was 142%. Among Tier-I, Delhi topped the demand and along with Hyderabad contributed to almost 50% of the searches. Lucknow saw maximum demand among Tier-II and along with Indore, Chandigarh, Bhopal, and Patna made up the top-5.

The number of searches for Spoken English Classes in Tier-I and Tier-II remained the same but the growth rate in Tier-II outpaced that of Tier-I. The demand growth rate in Tier-II was 125% and in Tier-I it was 75%. Delhi made up for almost 1/3rd of the demand from Tier-I cities, while Indore, Patna, Nagpur, Jaipur, and Chandigarh made up the top-5 Tier-II that saw maximum demand rise.

Schwing Stetter Gears Up For ‘Technovation 2022’ At Its Cheyyar Facility, Tamil Nadu

* The company aims to further leverage technology in Construction Equipment manufacturing

* Features 70 + technology driven products

Schwing Stetter India, one of the largest manufacturers of concreting and construction equipment’s across the country, today announced the launch of ‘Technovation 2022’ in their Global Manufacturing Hub in Cheyyar, Tamil Nadu, India. The main objective of the tech fest is to exhibit the concept of innovation through technology in the concrete and construction industries across the country.

Key highlights of the event:

- The Technology show (indoor and outdoor)

- BAI (Builders Association of India) client’s forum

- E-commerce website launch

- Crane owner’s symposium

- Live demonstration of equipment

This week-long event, which runs from February 7th – 13th, 2022, aims to bring together diverse industrial customers, stakeholders, local and global technology leaders to syndicate conversations about technology, partnerships, and innovation that can help advance market technology adoption. The event will feature 70+ technology-driven products on display, that will transform all stages of the construction process and reshape the industry. Besides this, the webinars and conferences will have 20 plus speakers where a lively exchange of knowledge sharing sessions by impressive technical experts from renowned institutions and thought leaders in the industry are expected to participate.    

Schwing Stetter’s Global Manufacturing Hub has been focusing on innovation, R&D and new products based on customer feedback. Technovation 2022 will be an eye-opener for lot of entrepreneurs and existing customers to have a global awareness about where construction equipment industry is moving towards. Moreover, with market moving towards sustainability, de-carbonization, sensor based preventive technology etc, this event will also be an experience zone for the end customers and industry leaders to see the products in action and try them.

Mr. V.G. Sakthikumar, Managing Director, Schwing Stetter India, said, “At Schwing, we have always believed in Innovation & Technology as the driving factors behind the infrastructure growth. Schwing Stetter is extremely delighted and thrilled to conduct the Technovation Fest 2022. We believe that this would be a perfect interactive platform to broaden product range and technology enabled service offerings. It also empowers and helps us to understand our customers in a better manner. Going forward, we will continue to implement new market innovation and growth strategies to sustain our market position”.

Throughout the week-long event, a series of events are scheduled to focus on each forum. Some of the major announcements scheduled for Technovation 2022 include Schwing Stetter launching their e-commerce website, webinars by renowned industry professionals, and multiple conferences.

About Schwing Stetter India Private Limited:

Incorporated in June 1998, and commencing its manufacturing operations in 1999, Schwing Stetter India is a 100% subsidiary of Schwing GmbH, a 1.30 billion USD German concreting machinery manufacturer and a part of XCMG group. Schwing Stetter is a pioneer in manufacturing equipment for concrete preparation, placement, transportation, and recycling. Schwing Stetter (India) Private Limited manufactures concrete batching plants, concrete placing booms, concrete pumps, concrete truck mixers for transporting readymade concrete to construction sites, concrete truck mixers with concrete pumps, concrete recycling plants, plastering pumps, self-loading mixers, and sludge pumps.

Schwing Stetter (India) sells and services equipment like concrete pavers, aerial working platform, all terrain crane, cold milling machine, crawler crane, excavator, horizontal directional drilling, motor grader, rotary drilling rig, tower crane, truck crane and wheel loader are our various newer range of equipment that have been launched recently from GOMACO and XCMG. We cater to the requirement of infrastructure developers and act as an OEM supplier to various cement companies who offer ready mix concrete. Schwing Stetter has its manufacturing units in 12 countries including Germany, Austria, USA, Brazil, Russia, Ostrava, UK, India supported by sales and service centers in France, Netherlands, Austria, and Sweden as well as representations in more than 150 countries Worldwide. Contact us on : https://www.schwingstetterindia.com/  

Union Bank Of India Records Improved Net Profit Of 49.29% On YoY Basis During Q3FY22

The Board of Directors of Union Bank of India today approved the accounts of the Bank for the  Quarter and 9 months ended December 31, 2021.

Key Highlights in Q3FY22

1.    Strong Financial Performance:

Net Profit of the Bank improved by 49.29% on YoY basis during Q3FY22. Net interest income of Bank grew by 8.88% on YoY basis during Q3FY22.

2.    Bank continues to demonstrate a strong liability franchise

The CASA deposits have increased by 11.06% YoY. Bank now have a total deposits base at Rs.9,37,455 Crores as at the end of Q3FY22. CASA ratio improved by 161 bps to 36.99% from 35.38% on YoY basis.

3.    Business growth gaining momentum

The Advances have increased by 5.51% and 2.69% on QoQ and YoY basis respectively, while Deposits have increased by 2.56% and 6.24% on QoQ and YoY basis respectively. Bank now have a total Business at Rs.16,06,986 Crores as on Dec 31, 2021.

4.    Credit in Retail, Agri and MSME (RAM) segments grown by 9.17% on YoY basis

Bank registered 9.78% growth in Retail, 11.08% growth in Agriculture and 6.38% growth in MSME advances on YoY basis. RAM advances as a per cent of Domestic Advances improved by 327 bps on YoY basis to 56.94%.

5.    Reduction in NPA:-

Gross NPA (%) reduced by 102 bps on QoQ basis to 11.62% and Net NPA (%) reduced by 52 bps on QoQ basis to 4.09% as on 31.12.2021. Credit Cost reduced by 91 bps QoQ for Q3FY22.

6.    Improved capital ratios

CRAR improved from 12.98% as on 31.12.2020 to 13.92% as on 31.12.2021. CET1 ratio improved to 10.18% as on 31.12.2021 from 9.22% as on 31.12.2020.

GST Clarity For Indian Fantasy Sports Industry To Drive Investments And FDI: TIOL Report

A recent whitepaper from (Tax India Online) TIOL highlighted that Fantasy sports have been on the front end of innovation and investment in the last few years. It is imperative for regulators to take stock of the potential these sectors hold while ensuring their revenues are taxed based on a valuation model that distinguishes between games of skill and games of chance. 

With the exponential growth of fantasy sports and the potential benefits to India's digital economy in mind, the whitepaper also recommended providing tax certainty to the industry as well as ensuring an optimal tax rate as essential factors for attracting investments, FDI, and ensuring the growth of tax revenue for the government.

India is the world's largest Fantasy Sports market with around 13 crore Indian users, beating the USA's 50-year-old status as the world leader. India is also home to the world’s largest Fantasy Sports operator and more than 150 operators providing online fantasy sports. According to the NITI Aayog draft guidelines on regulating the Fantasy Sports industry, with the significant growth of this sector in recent years, it has tremendous potential to continue attracting foreign investment, increase innovation, and generate employment in India. With rapidly surging demand, a large market of sports fans and a complementing pool of engineering development talent in India is on the cusp of becoming a global hub for this sunrise industry.

According to data cited in the TIOL report, the Fantasy Sports industry has generated INR 4,700 Cr in revenue in FY21 which is projected to grow to INR 9,500 Cr by FY23. In terms of investment potential, the Fantasy Sports industry has already attracted INR 10,000 Cr in FDI as of 2021, with another INR 15,000 Cr in FDI projected over the next three years. Fantasy Sports operators have so far paid INR 1,500 Cr in taxes for FY21 (GST + TDS + Corporate Tax), which is estimated to amount to INR 15,000 Cr between FY20 – FY24. A PwC report published in 2019 estimated the GST component contributed in the next five years to be approximately INR 3,000 – 3,500 Cr. In terms of employment, the Fantasy Sports sector has already generated 3,000 – 3,400 jobs directly and indirectly and is projected to contribute 12,000 additional jobs to India’s in the next 2-3 years.

Speaking at an online forum, Prashant Rao, Partner, TMT Consulting, Deloitte spoke about the growth of fantasy sports and its positive impact, "The sports market in India is growing 3 times faster and the number of sports watchers is 800 million. This greatly motivates our youth to take up the profession of sports and sports. There are 13 crore Indians playing fantasy sports and it is not always about money. They have also played free games to enjoy the game, they want to feel empowered. Another interesting fact about which they came to know during the study is that people in the age group of 25 to 40 are the maximum number of players who play fantasy games."

As per a report compiled by the Internet & Mobile Association of India (IAMAI), the industry pays 18% GST on Platform Fee or GGR collected (consideration amount against the supply of services by the online fantasy sports operators which is the subject matter of levy of tax under the GST Law). The report further mentions that in other nations, the levy of VAT or GST is confined to the Gross earnings (GGR) of the platform owners. GST on Gross Gaming Revenue would be consistent with global practices. It is important to note that multiple High Courts and the Hon'ble Supreme Court of India has adjudged Fantasy Sports as a game of skill and has accorded protection as a legitimate business under Article 19(1)(g) of the constitution of India.

The industry expects that the current taxation of 18% on platform fee or GGR would continue which is a prevalent practice globally as well. The report recommends that no changes are made to the current taxation regime for fantasy sports and that the GoM utilize this opportunity to lend further clarity on the matter. The group of ministers (GoM) may also recommend to the GST council to include ‘Fantasy Sports’ under HSN heading 998439 to avoid any ambiguity with regard to valuation or rate.

Bengaluru To Be The First To Relish Recipe’s New Category Of “Exotic Global Sauces”

* Introduces an attractive, contemporary affordable and consumer-friendly packaging with a  Twist Nozzle

Exotic sauces have been gaining momentum in the Indian market across the food service and retail segments. With the increasing demand for Global Sauces introduced in India, Mother’s Recipe, one of India's leading food brands have launched its new category of “Exotic Global Sauces” available in Red Chili, Green Chili Garlic Chilli Sauce, Soya bean, Chilli Vineger & Sriracha Sauce with no added MSG and no artificial colours under the brand ‘Recipe’ in Bengaluru. Consumer’s desi Chinese dishes will taste better than ever & will be healthier too without MSG which makes it safe for the entire family.  

The Recipe brand provides consumers with a unique proposition of versatility in cooking, the authenticity of taste and exotic flavours through its range of sauces. These Sauces is all that you need to pep up your favourite home-cooked meals This new range of Exotic Sauces is pocket friendly at an MRP of only Rs. 55 and enables convenient cooking especially for millennials who look at experimenting with new dishes at home. The unique feature of this product range is its 'Twist Nozzle,' which is easy to use & store. The nozzle has been fitted at the top of the bottle which aids in measuring the amount of the sauce that is being poured. The premium bottles are light, sleek, unbreakable & can be stored in fridge easily. Apart from this, there’s also a useful recipe on the back of every bottle that will help consumers in the kitchen in cooking a healthy, tasty meal for their family every day. 

Commenting on the launch Ms. Sanjana Desai, Executive Director, Mother’s Recipe, said “It gives us immense pleasure to announce the launch of our new category of Global Exotic sauces under our brand “Recipe” first in Bengaluru. Keeping up with the ever-increasing demand for Global sauces in India, we have introduced this product range that will be both best tasting & best looking on the shelf. We are also going to be introducing additional flavours very soon in the market & will also be expanding to other cities very soon. The Sauces are a vibrant assortment with international flavours that will enrich the taste in everyday meals. These sauces are manufactured keeping in mind the best quality ingredients and have no added colour or NO MSG added in the sauce. With this product range, we went a step ahead and designed unique packaging for easy pourability with a Twist Nozzle at the top of the bottle, making it the best & most unique in the category.” 

The Recipe brand earlier this year introduced Desi Szechwan without any MSG, which makes it unique in this category. that is an exquisite pleasure for your taste buds. This delicious chutney combines very well with almost everything. It can be served as a dip or stir-fried, or it can be mixed into rice, noodles, or used as a marinade for paneer or chicken.  

All the products are available to buy online on www.mothersrecipe.com/recipe 

About Mother’s Recipe  

Desai Foods Private limited owns the brands Mother’s Recipe, ELMAC, Spread On & Dabee. The company with a robust distribution network across the country caters to diverse formats ranging from mom & pop stores, modern trade outlets, multi-functional outlets, e-commerce, Defense and to Hotel Restaurants & Cafes (HORECA) / Food Service outlets. The company is one of the largest providers of traditional & authentic Indian taste exported to more than 45 countries in the world. The current product portfolio in India consists of Pickles, Condiments Pastes, Blended Spices, Ethnic Chutneys, Papad, Ready to Cook Spice Mixes and Instant Mixes. The company has 3 state of the art manufacturing facilities – in Pune, Kolkata & in Bharoda and is certified under ISO 9001-2008 and ISO 22000-2005. Mother’s Recipe have won various awards like the Consumer Voice Award, the Superbrand Award, Product of the Year award along with ‘Two Star Export House’ status by the Ministry of Commerce and Industry, Government of India.  

All the products are available to buy online on www.mothersrecipe.com  

Toyota Kirloskar Motor Organises An Engaging Biodiversity Awareness Drive For 100 Children From Shelter Homes In Bangalore

ICARE, Toyota’s Employee Volunteer Initiative, builds a strong network of committed individuals working towards protecting biodiversity

Volunteers and their families invited to witness the company’s ecological actions through a virtual tour of ECOZONE and become ambassadors of change

Continuing its commitment towards sustainability and environment preservation, Toyota Kirloskar Motor (TKM) organised its 22nd activation under ICARE, TKM’s employee voluntary initiative. The event was aimed at generating curiosity and awareness around biodiversity in an engaging set of activities for its employees, their families.

TKM invited its employees and their families on a virtual tour of ECOZONE to witness the Company’s ecological actions and inspire them to become ambassadors of change for a cleaner and greener Bangalore.

Further to this, ICARE Volunteers came together to demonstrate the idea of waste to treasure in a bid to reduce-reuse-recycle and made planters from waste plastic bottles. This was followed by an interesting quiz on biodiversity to emphasise its importance and promulgate the essence of conserving nature.

TKM also invited 100 children between grades 5 and 9 from shelter homes of Bangalore to experience the initiatives of ECOZONE and take back valuable lessons in conservation. Through the virtual tour, the children were excited to learn about some interesting aspects of how they can contribute to preserving the environment.

Commenting on this initiative, Mr. Vikram Gulati, Executive Vice President, Corporate Affairs and Governance, TKM, said, “Preserving bio-diversity and creating a sustainable ecosystem is at the very core of our environment initiatives at TKM. We take sustainability beyond our corporate philosophy and strive to create impact in the society around us. Our primary goal is to foster and shape young minds and empower them to drive change for a greener tomorrow. Through our ICARE initiatives, we are trying to build a community that is sensitive to the environment as we proactively contribute towards building a sustainable future. We are extremely happy with the response from our young participants, and we will continue to educate and build an eco-conscious community.”

ECOZONE aims at instilling the right eco-mindset in the community, especially children. It is an outdoor environment learning centre that was conceptualised to serve as a knowledge-sharing platform to provide exposure on TKM’s efforts in environment conservation. This state-of-the-art educational platform provides hands-on training and experiential awareness to the student community on environmental topics.

New KITKAT LOVE BREAK Campaign Encourages Youth To Share A Special Break With Their Loved Ones

BAE, BFF or BUDDY, every relationship is unique and deserves a special break. In this season of love, KITKAT gives youth a million ways to share a break and make them feel special with the KITKAT LOVE BREAK packs. It builds on the insight that if every relationship we cherish is unique then why should the way we express our love not be just as unique.

A category-first innovation, KITKAT has created over 12 million unique LOVE BREAK packs with quirky digital prints which consumers can choose from as their way of a special break.

Commenting on the launch of the campaign, Rupali Rattan, Head - Confectionery Business, Nestlé India said, “KITKAT Love Break campaign recognizes that the youth today want to be unique in their expressions. Building on this truth, KITKAT wanted to personalize the packs to make their breaks special during this season of love. The millions of unique packs will let youth express themselves in the way they want to and how they define their special relationships” 

Elaborating on new KITKAT LOVE BREAK campaign brand ambassador and Bollywood star Ayushmann Khurrana said “Sometimes in life all it takes is showing our loved ones how special they are to us. KITKAT Love Break packs is giving every individual an opportunity to express themselves in their own unique style. I am excited about this never-seen-before category first innovation by KITKAT and look forward to sharing this special one in a million break with everyone.”

KITKAT brand ambassador and actor Sanya Malhotra says “I believe that love is not only limited to one person, but also about all the people who make us feel valued. KITKAT Love Break packs are an amazing way to show our unique love for all the special relationships in our life.”

Creative Agency: Wunderman Thompson

Campaign Link: https://www.youtube.com/watch?v=-umKXBunDk8