Blue Dart Expands Its “Retail Footprint In Tier I And II Markets” Across Indian Market

* Will launch 15 retail stores on 15th August 2022 to facilitate trade in the nation  

* Through the ‘Har Ghar Tiranga’ campaign will distribute 75,000 flags free from all Blue Dart stores 

* Encourages all employees to hoist the Tricolour at their homes and pin it on https://harghartiranga.com/  

Joining the, ‘Azadi ka Amrit Mahotsav’ initiative, Blue Dart, South Asia's premier express air and integrated transportation & distribution company strengthens its presence by introducing 15 new retail stores across the country. The stores will be launched on 15th August and will be located in Odisha, Assam, Haryana, Tamil Nadu, Telangana, Karnataka, Maharashtra, Gujarat and Madhya Pradesh.  

The new stores will widen Blue Dart’s presence in Tier I & II markets in India. The expansion will act as an advantage for customers enabling Blue Dart to cater to 55,000 plus locations. With around 700 retail stores(with DHL) across India, Blue Dart offers the most reliable, resilient and responsive service providing a quick turnaround time and an enhanced direct reach to pin-codes in the country.   

Ketan Kulkarni, Chief Commercial Officer, Blue Dart says, “As pioneers in Express Logistics and the Nation’s trade facilitator we understand the growing logistic needs. The retail expansion will widen our network and improve accessibility to our customers. We will continue to identify new locations and will further expand our reach in order to improve last mile logistics to the remotest parts of the country.” 

Integrating with the ‘Azadi Ka Amrit Mahotsav’ and the ‘Har Ghar Tiranga’ campaign, Blue Dart has planned multiple patriotic activities which will be executed at all stores. India’s 75th Independence will be celebrated with much grandeur and most importantly will connect with the ‘Har Ghar Tiranga’ campaign. 75,000 flags will be distributed at all Blue Dart stores in the country to invoke the feeling of patriotism in the hearts of all creating awareness about the Indian National flag. 

Commenting on the Independence Day campaign Ketan Kulkarni says, “Azadi Ka Amrit Mahotsav is a historic movement that will decode India 2.0 for the future generations. Blue Dart is a, ‘People Centric’ brand and we want to be an integral part of all the festivities that our customers, our employees and our stakeholders celebrate. India’s 75th independence is a celebration of patriotism which we would like to rejoice. Our new stores will illustrate special independence day appeal and will ensure that we keep the Tiranga flying high as we participate in the ‘Har Ghar Tiranga’ campaign.” 

Customers visiting Blue Dart stores will also receive specially designed merchandise like taffeta bags, key chains and much more. Adding to the festivity, Blue Dart will conduct a National Quiz themed on the freedom movement on all its social media platforms. To keep up the patriotic spirit, all the front-liners will also wear an, ‘Azadi Ka Amrit Mahotsav’ badge.  

As a part of the DPDHL Group, Blue Dart aligns itself with the Group’s Sustainability Roadmap and continues to work towards clean operations for climate protection (Environment), being a great company to work for all (Social) as well as being a highly trusted company (Governance). As a Sustainable Provider of Choice, Blue Dart was the among the first to set a quantified carbon-efficiency target. In 2011, Blue Dart was the first in the country to launch an end-to-end GoGreen Carbon Neutral Service, on all its products; domestically and internationally. To add to this achievement, this year on World Environment Day, 05th June, 2022, Blue Dart also signed the Climate Neutral Now pledge, an initiative by the UNFCCC towards achieving a climate neutral future.  

About Blue Dart: 

Blue Dart Express Ltd., South Asia's premier express air and integrated transportation & Distribution Company, offers secure and reliable delivery of consignments to over 55,000 locations in India. As part of Deutsche Post DHL Group’s DHL eCommerce Solutions division, Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries and territories, and offers an entire spectrum of distribution services including air express, freight forwarding, supply chain solutions, customs clearance etc. 

The Blue Dart team drives market leadership through its motivated people, dedicated air and ground capacity, cutting-edge technology, wide range of innovative, vertical specific products and value-added services to deliver unmatched standards of service quality to its customers. Blue Dart's market leadership is further validated by its position as the nation’s most innovative and awarded express logistics company for exhibiting reliability, superior brand experience and sustainability which include recognition as one of ‘India's Best Companies to Work For’ by The Great Place to Work® Institute, India, ranked amongst ‘Best Multinational Workplaces in Asia’ by The Great Place to Work® Institute, Asia,  voted a ‘Superbrand’ and ‘Reader’s Digest Most Trusted Brand’, listed as one of Fortune 500’s ‘India's Largest Corporations’ and Forbes ‘India's Super 50 Companies’ to name a few. Blue Dart’s Diversity and Inclusion initiatives have also led to it being recognized as one of India’s ‘Best Workplaces for Women’ in 2021 and ‘Best Organisations for Women’ in 2022 by the Economic Times. 

Blue Dart fulfils its social responsibility of climate protection (GoGreen), disaster management (GoHelp) and education (GoTeach) through its Go programs. 

Singapore Tourism Board Organises Travel Trade Roadshow In Bangalore

* This as part of “Deepening Connections, Achieving Together!” trade outreach

As international tourism picks up momentum, the Singapore Tourism Board (STB), today hosted a Deepening Connections, Achieving Together! travel trade roadshow in Bangalore. As part of a five city roadshow series, the STB brings the largest ever delegation of 40 Singapore tourism stakeholders to reconnect and engage with trade partner-friends in India.

The trade engagement programme, attended by more than 200 Bangalore-based travel agents, was to deepen Singapore tourism’s strong partnerships and fostering new networks between tourism stakeholders and the local travel trade. The roadshow saw a robust lineup of some of Singapore’s most prominent attractions, hotels, tour operators, cruise lines and destination management companies (DMCs). The strong turnout from both Singapore tourism trade and Bangalore travel agents highlighted the commitment by both sides to recover Indian visitorship to Singapore. Pre-Covid, the city had been a destination of choice for Indian travellers and with travel re-opening, it has quickly become a favourite destination again.

Under the Vaccinated Travel Framework (VTF), Singapore opened to quarantine-free travel to all fully-vaccinated visitors from 1st April 2022, with no testing or quarantine required. Since then, the country has received over 1.5 million visitors in the first half of 2022, which is 12 times more than it received for the same period in 2021. India has emerged as Singapore’s second largest source market, with more than 219,000 Indian visitor arrivals in the first half of the year alone, signalling a steady and optimistic path towards recovery.

As STB’s first multi-city roadshow together with Singapore tourism stakeholders since the pandemic, the roadshow builds on STB’s trade outreach efforts earlier in the year – including SATTE 2022 (Delhi-NCR), OTM 2022 (Mumbai) and multi-city product update sessions held in April 2022. The Singapore Tourism Board & delegation presented the city’s new and reimagined offerings that have been launched over the past two years of COVID downtime.

These include the immersive and highly Instagrammable Museum of Ice Cream, and SkyHelix Sentosa, Singapore's first open-air panoramic attraction that allows visitors scenic views of Sentosa and the Southern Waterfront. Adding to the momentum of these new offerings, Singapore also has an action-packed lineup of blockbuster experiences slated to open in the coming months, including Gardens by the Bay’s immersive Avatar: The Experience at the Cloud Forest. Based on much-anticipated sequel to the hit 2009 sci-fi film, the immersive experience invites visitors to connect with the alien world of Pandora, its bioluminescent environments, mystical creatures, flora, and the captivating culture of its indigenous people, the Na’vi, at Gardens by the Bay’s Cloud Forest.

For Indian cruise holiday makers, more cruising options are now available, including international port calls in neighbouring cities. They are able to enjoy sailing onboard The Royal Caribbean International’s Quantum-ultra class ship, Spectrum Of The Seas or Resorts World Cruises’ ultimate cruise adventure aboard its Genting Dream ship. India was Singapore’s top source market in 2019. On the MICE front, the STB offers attractive schemes group travel, enabling corporates to enjoy new experiences in dining and attractions to thematic tours and team building activities.  

Speaking about tourism recovery and the roadshow, Mr. GB Srithar, Regional Director, Regional Director, India, Middle East, South Asia & Africa, Singapore Tourism Board said, “After more than two years, it heartens us to welcome again Indian travellers to Singapore in good numbers and see them enjoy both familiar favourites and our new, reimagined experiences. Bangalore is an important source market and amongst the 14 cities with direct flight connectivity to Singapore. With this roadshow, we aim to continue the growth momentum by communicating the message to our audience that Singapore is open, and by welcoming back travellers for memorable holidays. We were happy to reconnect with our partner-friends in Bangalore and invite their clients to come, enjoy in Singapore.”

About the Singapore Tourism Board

The Singapore Tourism Board (STB) is the lead development agency for tourism, one of Singapore’s key economic sectors. Together with industry partners and the community, we shape a dynamic Singapore tourism landscape. We bring the Passion Made Possible brand to life by differentiating Singapore as a vibrant destination that inspires people to share and deepen their passions

Product Updates:

Sentosa Island

-          In September 2022, Central Beach Bazaar will be launched at the heart of Sentosa’s beaches, featuring a new Sentosa Musical Fountain, the Sentosa SkyJet and the International Food Street. Rising over 80 metres, the Sentosa SkyJet is set to be the tallest fountain in Southeast Asia while the International Food Street will feature popular street food options from around the world.

-          Scentopia, Singapore’s First Augmented Reality (AR) perfume-making experience launched its first retail space at Siloso Beach Walk, Sentosa. Specialising in local Singaporean floral heritage and cultural scents, visitors can expect an array of activities – from AR perfumery tours around over 300 free-to-use AR Scented Exhibits to DIY perfume-making sessions at the perfume bar with a diverse selection of over 6000 Scented Wands to choose from

-          For water sports enthusiasts, there are plenty of activities lined-up at the Palawan Shores including HydroDash. Singapore’s first floating aqua park., HyperDrive- a new gamified karting activity that is slated to launch next year, The family beach club at Palawan Shores is poised to be the first of its kind in Singapore, +Twelve is a terraced beach club offering spectacular unblocked views of the beach, the sea, and the sunset, UltraGolf an 18-hole mini-golf course on the beach  

Resorts World Sentosa

-          Universal Studios Singapore’s Halloween Horror Nights will return this year for its 10th edition after a two-year hiatus due to the pandemic, with the promise of plenty of thrills and chills for those who dare. The Halloween Horror Nights will run across 19 event nights on select nights, from 30 September till 5 November 2022

-          Dolphin Island at Resorts World Sentosa is also coming up with a range of dolphin interaction programmes, each promising guests an unforgettable up-close and personal experience with these highly intelligent mammals

Gardens by the Bay

-          In celebration of its 10th anniversary this year, Gardens by the Bay has reinstated a full year of changing floral displays in the Flower Dome. Upcoming floral displays include: Hydrangea Holidays, which features over 20 varieties of hydrangeas against a backdrop inspired by the Dutch countryside in summer; Hanging Gardens, which showcases the colourful culture of Mexico amidst a landscape of tropical blooms such as orchids, dahlias and bromeliads; A Spanish Serenade with Sunflowers, where sunflowers and other blooms enhance interpretations of a Spanish courtyard garden; Seasons of Bloom, which showcases four seasons of flowers.

-          New attractions that have opened up at Gardens by the Bay include: Orchid Haven, a dedicated space for Cloud Forest’s orchid displays and orchid exhibits; Supertree Observatory, the highest point in Gardens by the Bay offering visitors a 360° view of Singapore’s downtown; Kingfisher Wetlands, a nature sanctuary and urban wetlands located right in the city centre; Floral Fantasy, a whimsical attraction where flowers, artistry and technology come together to create a fantastical experience for visitors.

-          Among the exciting events happening later this year is Avatar: The Experience, which will meld a blockbuster experience with the verdant greenery of Cloud Forest

Marina Bay Sands

-           Marina Bay Sands has embarked on a major reinvestment programme for its existing property, spanning hotel rooms and suites, new food and beverage (F&B) offerings and other enhancements that will position the Integrated Resort (IR) for strong growth as the recovery of global tourism continues

-          The US$1 billion reinvestment is the biggest since the IR’s opening in 2010, the reinvestment is in addition to the multi-billion-dollar expansion announced in April 2019, which will include the development of a state-of-the-art entertainment arena, an ultra-luxury hotel tower and additional MICE (meetings, incentives, conventions & exhibitions) space, adjacent to the current IR

NIC Honestly Natural Ice Cream Introduces Special Combo Offers For Raksha Bandhan

NIC Honestly Natural Ice Cream, the fastest-growing ice cream brand in the country after having established itself as one of the most popular brands in India has introduced an array of exciting flavours and combo offers on the festive occasion of Raksha Bandhan. Rakhi is a symbol of love, join hands with NIC Honestly Natural Ice Cream and celebrate the bond of love, protection, and care and gift your loved ones something special and natural. 

“We all love celebrating a joyous occasion like Raksha Bandhan surrounded by all our loved ones. The thought behind curating these combo offers is to double the love between you and your sibling and be a part of this celebration. As our brand name suggests, we assure the purity of the ingredients used to make our ice creams is just as pure as the bond between two siblings.” said Sanjiv Shah, Director, Walko Food Company Pvt Ltd.

Chocolates are a thing of the past, feast on NIC Honestly Natural Ice Cream’s delicious ice creams on this Raksha Bandhan and celebrate the function in style. The brand believes in providing its customers with all-natural, pure goodness while ensuring the creaminess of milk along with the natural taste of fruits in all of its flavours.

NIC Honestly Natural ice cream has introduced a variety of combos like ‘Best Friend Gift Box’ which includes Tender Coconut (100ml), Dry Fruit Overloaded (100ml), and Sitaphal (500ml). ‘Bandhan Gift Box’ which includes Dry Fruit Overloaded (100ml), Gulab Jamun (100ml), and Kesar Pista (500ml). ‘Special Gift Box’ which includes Sea Salted Caramel (500ml), and Madagascar (500ml). ‘Honest Love Gift Box’ which includes Tender Coconut (100ml), Dry Fruit Overloaded (100ml), Gulab Jamun (100ml), and Sitaphal (1ooml). ‘Sibling Gift Box’ which includes Belgian Chocolate (500ml), and French Vanilla (500ml). All the combos are available on Food-Tech platforms like Swiggy, Zomato, and Dot Pe.

About NIC Honestly Natural Ice Cream:

NIC Honestly Natural Ice Cream was founded in 2015 on the principles of providing uncompromising quality, innovation, and a superior customer experience. Honestly Natural Ice Cream is not only their motto; it is also a promise that contains no artificial flavours, colouring agents, or preservatives. NIC Honestly Natural Ice Creams has won the prestigious BARC Rising Brand Award in March 2022. NIC Honestly Natural Ice Cream is the most popular ice cream brand on FoodTech platforms such as Swiggy and Zomato, with flavours ranging from fruit and dry fruit variations to international flavours such as Mediterranean Sea Salted Caramel, Madagascar Chocolate, French Vanilla, and those inspired by Indian sweetmeats such as Gulab Jamun, Sheer Khurma, Til Gud, and Gajar Halwa to name a few.

Visit us at www.nicnaturalicecreams.com Follow us on Instagram @nicicecreams

Like us on Facebook Nic Natural Ice Creams  Subscribe us on YouTube NIC Honestly Natural Ice Cream

Poonawalla Fincorp Maintains Profitability, Growth And Asset Quality In Q1, FY’23

Poonawalla Fincorp Limited (PFL), a non-deposit taking, systemically important NBFC focusing on consumer and MSME finance, recently announced a 118% year-on-year (YoY) rise in net profit in Q1, FY2023 at Rs. 141 crore, due to improvement in Net Interest Margins (NIM) by 155 basis points YoY to 9.5%. The non-bank lender’s Assets Under Management (AUM) grew by 22.4% YoY to Rs 17,660 crore and 6.5% QoQ. Disbursements under the company’s Direct, Digital and Partnership model (DPP) have almost doubled from 17.5% in Q4 FY22 to 34.1% of the total disbursement in the current quarter.

Commencing with two or three products, PFL today offers a diverse product range which includes personal loans, pre-owned car finance, loans against property, professional loans, small business loans, loans for medical equipment, and the newly launched loans for machinery and supply chain finance products. Furthermore, PFL will launch EMI cards, credit cards, consumer finance, and merchant cash advances over a 12-18 month period.

The product focus on pure retail segments of consumer and MSME finance continued. The Company further consolidated its leadership in the pre-owned car finance and loan to professionals segment. Also, the quarterly disbursements across product lines of Business Loans, Personal Loans, Loan to Professionals, Pre-Owned Cars and Loan Against Property were the highest in Q1FY23. This, coupled with consistent increase in lending via the Direct, Digital and Partnership (DDP) model of origination, has further strengthened and diversified the company’s distribution.

Poonawalla Housing Finance Limited (PHFL), the 100% subsidiary of PFL, crossed the AUM milestone of INR 5,000 cr., clocking 30.5% y-o-y growth to stand at an AUM of INR 5,282 cr. this quarter.

Both Poonawalla Fincorp and Poonawalla Housing Finance continue to have long-term rating of ‘AA+ / Stable’ by CRISIL and CARE.

The company’s vision is to be amongst the Top 3 NBFCs in consumer and MSME lending with a risk-calibrated accelerated growth and triple its FY21 AUM by 2025. The company will continue with its rigor on execution, investment in people, building technology and a strong retail consumer franchise, and is well on course to deliver an exceptional performance in this financial year.

About Poonawalla Fincorp

Poonawalla Fincorp Limited (Formerly known as Magma Fincorp Limited) is a Cyrus Poonawalla group promoted non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The Company started operations nearly three decades back and is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange in India (NSE). Consequent to the capital raise of Rs 3,456 Crore in May’21, the Company is now part of the Cyrus Poonawalla Group with majority stake owned by Rising Sun Holdings Private Limited, a company owned and controlled by Mr. Adar Poonawalla.

The Company’s new identity “P” stands for Passion, Principles, Purpose, People and Possibilities. Poonawalla Fincorp Limited (“PFL”) has a widespread coverage with 231 branches across 21 States. The Company along with its subsidiary has AUM of Rs 17,660 crore and employs more than 5,000 people. Its financial services offerings include pre-owned car finance, personal loans, loan to professionals, business loans, SME LAP, supply chain finance, medical equipment, consumption loans and affordable home loans.

For more information, log on to: www.poonawallafincorp.com

MSME Credit Disbursement Accelerates While Credit Quality Stays Stable

* High Risk MSMEs (CIBIL Rank 7 to 10) comprise more than half (57%) of accounts reported as “restructured due to COVID-19”, implying astute implementation of policy to support vulnerable MSMEs

Findings from the latest edition of the TransUnion CIBIL-SIDBI MSME Pulse Report indicate that credit disbursement to the MSME sector has doubled compared to pre-pandemic levels across segments, indicating that lenders are in a position to support increasing credit demand. Overall, MSME credit exposure stood at ?23.12 lakh crores as of March ’22, reflecting a year-on-year (YoY) growth rate of 6.3%. The total number of live MSME borrowers increased by 6% YoY in March 2022.

Credit demand and supply continued to remain buoyant

Report analysis shows that MSME credit demand has been progressively increasing after the second wave of the pandemic, with current demand clocking ?1.6X that of the pre-COVID phase. Commercial credit inquiries have picked up in the last year owing to the recovery in economic and business activity. Public Sector Banks (PSBs) have seen a 1.6X inquiry growth while Private Banks (PVTs) witnessed 1.7X growth as compared to that of the pre-COVID phase. Non-Banking Financial Companies (NBFCs) showed recovery trends following the second pandemic wave in the first quarter of FY22. NBFCs showed a 1.4X growth in inquiries as compared to that of the pre-COVID phase.

Speaking on the findings of this edition of MSME Pulse, Mr. Sivasubramanian Ramann, Chairman and Managing Director, SIDBI, said: “Insights on credit demand and supply from this edition of MSME Pulse verify that timely liquidity infusion through the ECLGS has strengthened the MSME sector towards resurgence. Lenders have successfully executed the ECLGS and provided timely support to all the MSME segments. With this infusion, MSMEs can scale business growth rapidly.”

Adding to this, the Managing Director & CEO of TransUnion CIBIL, Mr. Rajesh Kumar, said: “The increase in MSME credit demand across segments bodes well for economic resurgence. By catering to this demand astutely, lenders can grow their portfolios while contributing to financial inclusion as well as GDP growth. The resurgence can be strengthened further by facilitating speedier and more seamless triangulation of multiple sources of information for creating an orthogonal view of MSMEs. Fortified information infrastructure that provides an enriched view of MSMEs can build the bedrock required for scaling sustainable and long-term evolution of India’s MSME sector.”

The rise in demand has been well supported by lenders with total MSME credit disbursement clocking 43% YoY growth in FY22-Q4. Compared to the pre-COVID phase (FY20-Q4), disbursement across all three MSME segments have almost doubled in FY22-Q4. Disbursements in the micro, small and medium segment increased YoY by 19%, 33% and 38%, respectively from FY21 to FY22.

Analysis of the NPA rate indicates a marginal uptick with the overall level of MSME NPAs at 12.8% in March ’22. Important to note that the NPA levels reflect a higher percentage because of historical accumulation. Ageing analysis of NPA highlights that of the total balances in 90+ days-past-due (DPD), ? 70% pertain to accounts originated till March 2017. NPAs in the MSME segment have shown an upward trend since March ’21. Until Q3 of FY21, the micro segment (~9% in FY20-Q4) had a similar NPA rate to the small segment (~9% in FY20-Q4) of MSMEs. However, this trend has now flipped indicating that COVID has impacted the micro segment the most. Lender type analysis reveals that the NPA rate of Private Banks (5.6% in FY22-Q4) remained stable since FY21-Q3. Public Sector Banks (20.8% in FY22-Q4) and NBFCs (9.6%) however have exhibited an increase in the NPA rate after Q3 of FY21.  The NPA rate for the NBFC segment continued to grow at a steady rate over the last 2 years.

Public Sector Banks reported maximum restructured accounts

This edition of MSME Pulse covers a study on restructured loan accounts which have been reported to the TransUnion CIBIL Commercial Bureau with reference to the Reserve Bank of India’s notification* on reporting of restructured accounts due to the COVID pandemic. Following this mandate, lenders have reported restructured loans under the “Restructured due to COVID-19” tag. Study insights based on the restructured accounts show that as of March ’22, 2.7 Lakh credit accounts have been tagged as restructured due to COVID-19 in the MSME segment (aggregate outstanding of less than 50Cr) which constitutes around 2.3% of the total live accounts reported in the same time period. From a balance perspective this constitutes INR 0.35 lakh crore which is around 1.5% of total MSME balances outstanding as of March ’22.

Bank type analysis of restructured loans indicated that Public Sector Banks reported the largest number of restructured accounts to the TransUnion CIBIL Commercial Bureau followed by Private Banks and NBFCs.

CIBIL Rank (CMR) based analysis further shows that High Risk Entities (CMR-7 to CMR-10) constitute 57% of restructuring followed by medium risk (CMR-4 to CMR-6) at 28% entities and low risk entities (CMR-1 to CMR-3) at 16%. This clear rank ordering demonstrates that CIBIL MSME Rank (CMR) is able to identify stressed portfolio and enable lenders to take timely corrective action from a risk management perspective.

With reference to the type of loans, it was observed that term loans are restructured more than working capital loans. This trend bodes well and implies that MSMEs are prudently managing their liquidity through cash credit (CC) or overdraft loans. Micro and small entities constitute 76% of the restructured accounts compared to larger sized MSME entities which is also driven by the high proportion of such loans in the bureau. 

“Small and medium businesses form the backbone of India’s economic engine and are the catalysts for sustainable economic growth. It is therefore vital to support them with a conducive ecosystem for accessing affordable financial opportunities easily and quickly. By collaborating with regulators, credit institutions and the wider industry to create meaningful insights and digitization-led framework, we are working hard to enable MSMEs to have greater access to financial opportunities seamlessly while helping foster financial inclusion,” concludes Rajesh.

Tata Motors Signs Definitive Agreement For The Acquisition Of Ford India’s Sanand Plant

Tata Passenger Electric Mobility Limited (TPEML), a subsidiary of Tata Motors Ltd, and Ford India Private Limited (FIPL), have today signed a Unit Transfer Agreement (UTA) for the acquisition of FIPL’s manufacturing plant situated at Sanand, Gujarat, which inter-alia includes: (i) entire land & buildings; (ii) Vehicle Manufacturing Plant along with machinery and equipment situated therein; and (iii) transfer of all eligible employees of FIPL’s vehicle manufacturing operations at Sanand, for a total consideration, exclusive of taxes, of Rs 725.7 Cr (Seven Hundred Twenty Five Crores and Seventy Lakhs).

FIPL will continue to operate its Powertrain Manufacturing Facility by leasing back the land and buildings of the Powertrain Manufacturing Plant from TPEML on mutually agreed terms. TPEML has agreed to offer employment to the eligible employees of FIPL’s Powertrain Manufacturing Plant in the event of FIPL’s cessation of such operations.

The closure of the transaction will be subject to the receipt of relevant approvals from the government authorities and fulfilment of customary condition precedents. The government of Gujarat, TPEML and FIPL have already executed a tripartite MoU on 30th May 2022 to support all relevant approvals for the above transaction.

Tata Motors Passenger Vehicles business has delivered market beating growth over the last few years and has strong plans to sustain this momentum, with its robust pipeline of future ready “New Forever” products and proactive investments in electric vehicles. With our manufacturing capacity nearing saturation, this acquisition is timely and a win-win for all stakeholders. It will unlock a state-of-the-art manufacturing capacity of 300,000 units per annum which is scalable to 420,000 units per annum.

TPEML would make the necessary investments to reconfigure the plant to adapt to Tata Motors' existing and future vehicle platforms. The unit is adjacent to the existing manufacturing facility of Tata Motors Passenger Vehicles Limited at Sanand, which should help in a smooth transition.

Announcing this, Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Limited and Tata Passenger Electric Mobility Limited, said, “The agreement with FIPL signed today is beneficial to all stakeholders and reflects Tata Motors strong aspiration to further strengthen its market position in the Passenger Vehicles segment and to continue to build on its leadership position in the Electric Vehicle segment. It will accelerate the growth and development of the Indian auto industry by taking a progressive step forward towards building a future ready Atmanirbhar Bharat”.

“Today’s announcement marks an important step forward in Ford’s ongoing business restructuring in India, which is part of our Ford+ plan for strategic transformation. With the transfer of employment for eligible vehicle manufacturing employees included in the agreement, this milestone also highlights our best effort in caring for those impacted by the restructuring,” said Steve Armstrong, Transformation Officer of Ford Motor Company.

“The shared values of trust, ethics and putting people first were the driving force behind our agreement with Tata Motors. We are confident that both the state-of-the-art manufacturing set-up as well as the world-class talent will continue to prosper under the new leadership and help Tata Motors to scale new heights,” Armstrong added.

Both TPEML and FIPL will work together over the next few months to satisfy all the condition precedents and obtain the required regulatory approvals for the closure of the transaction.

Hero MotoCorp Launched A New Campaign, #KhudKiSunLe For Destini 125 Xtec, Featuring Siddhant Chaturvedi

Recognized for defying stereotypes and creating impact through compelling messaging, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today launched a new campaign, #KhudKiSunLe for Destini 125 Xtec, featuring the company’s new brand ambassador and youth icon, Siddhant Chaturvedi.

Following the success of Hero Pleasure+ Xtec #LadkiChalaRahiHai campaign, which challenged the clichéd "Arre pakka ladki chala rahi hogi," Hero MotoCorp has returned with the energized high-decibel #KhudKiSunLe campaign for the recently launched Hero Destini 125 Xtec. The campaign is engineered to be an enlightening instrument intended to help the youth to rationalize societal expectations of fitting into the widely acknowledged definition of being acceptable.

In the commercial actor Siddhant Chaturvedi, is seen riding a stunning Destini 125 XTEC in Nexus Blue Colour. Along the way, he encounters young people who are involved in various scenarios where their decisions are overridden by those of others. Siddhant performs a powerful rap throughout to enlighten these youngsters to the reality behind their obvious choices. 

Through the rhythm of an intense rap with a pivotal turning point – Khud Ki Sun Le!, the TVC intends to initiate a culture of making brave choices that are backed by discernment.

Commenting on the launch of the new TVC, Mr. Ranjivjit Singh, Chief Growth Officer, Hero MotoCorp said, “Our message aims to empower the youth to act on their inclination and normalize making brave choices, for their greater good. This is reflected in our newly launched, Destini 125 Xtec, which has been built with the most ergonomic features. It has retained its retro-frontal design, it sports a metal body and has added smart upgrades like Bluetooth Connectivity, Digi-Analog Speedometer, LED headlamp to be in sync with the times. And that has made it one of the most stylish and efficient of scooters on offer. It celebrates the confluence of two worlds – Style and Tech – to create the vehicle of choice for the confident, discerning and opinionated youngster. We are confident that Destini 125 XTEC will be a crowd-puller.”

Speaking about the new TVC, protagonist and Hero MotoCorp’s brand ambassador, Siddhant Chaturvedi said, "KhudKiSunLe is close to my heart for many reasons, one of them being that it reflects my personality. I have seen people not taking easily to being different or choosing the less-traversed path. The obvious reason has either been second-guessing themselves and their gut feeling or going with what the majority favours. In the process, they have lived with significant indolence weighing down the power of their expression. I have always believed in the rigour of making well-informed decisions and I am excited to be propagating the same through the Destini 125 XTC commercial.”

The TVC, conceptualized and executed by McCann Worldgroup, for the new-age Hero Destini portrays the Destini 125 XTEC for what it is - the perfect companion for the smart, confident, and daring youth who isn't afraid to follow their own instincts. The campaign is being brought to life through a robust 360-degree surround campaign panning across multiple platforms- TV, Print, Digital and OOH.

Link to campaign TVC: https://www.youtube.com/watch?v=WM-SdMysvmw

Credits

Director: Anupam Mishra

Creative Agency:  McCann Worldgroup