Tata Chemicals, Rallis Wins Silver And Plaque At ICAI Sustainability Reporting Awards 2021-22

Tata Chemicals has been conferred with the Silver award and Rallis India has bagged Plaque at the recently held ICAI Sustainability Reporting Awards 2021-22. This award recognizes the efforts of companies toward envisioning and implementing strategies to help achieve United Nations Sustainable Development Goals (SDG) 2030.

This award is an endeavour to benchmark global best practices to recognize and reward excellence in sustainability reporting. Sustainability practices are at the core of business operations at Tata Chemicals and its subsidiary companies. Over the years these companies have built their intellectual and financial capabilities to integrate sustainability considerations into business decisions and key work processes and to create value, mitigating future risks while maximising opportunities.

Talking about the award Mr Nandakumar Tirumalai, CFO Tata Chemicals said, “At Tata Chemicals and its subsidiary companies we have prepared ourselves for this new era by adopting sustainability initiatives across all our operations across geographies. We are focused on getting measurable outputs on the sustainability front and improving our reporting standards to our stakeholders. Our ambition of cutting carbon footprints by 30% by 2030, leveraging green chemistry for our sustainability goals, Rallis India getting re-certified as a ‘Responsible Care’ company by the Indian Chemicals Council is a reflection of our commitment towards sustainability. We are grateful to get this recognition.”

In 2022, Tata Chemicals commissioned UK’s first at-scale Carbon Capture and Utilisation facility (CCU) that reduces carbon intensity and provides a sustainable in-house source of critical input. Successfully operationalised in FY22, the CCU facility captures food and pharmaceutical grade CO2 for consumption in the Sodium Bicarbonate plant. The principles of 'reduce and reuse' govern Rallis's waste and water management efforts. All manufacturing units are 'zero liquid discharge' ones. Treated water is recycled back into the manufacturing process. Also, waste from the processes is converted into valuable by-products. These are a few initiatives by Tata Chemicals and its subsidiaries for environmental protection.

ICAI Sustainability Reporting Awards for the year 2021-22 is conferred to companies to honour businesses for implementing efficient and innovative sustainable business practices. The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 for regulating the profession of Chartered Accountants in India. Sustainability Reporting Standards Board (SRSB) has been constituted by the Institute of Chartered Accountants of India (ICAI) in February 2020, with the mission to formulate comprehensive, globally comparable, and understandable standards for measuring and disclosing non- financial information about an entity’s progress towards United Nations Sustainable Development Goals (SDG) 2030.

About Tata Chemicals Ltd. 

A part of the US$ 128 billion Tata Group, Tata Chemicals Limited, is a leading supplier of choice to Glass, Detergent, industrial and chemical sectors. The company has a strong position in the crop protection business through its subsidiary company Rallis India Ltd. Tata Chemicals has world-class R&D facilities in Pune and Bangalore.

Toyota Kirloskar Motor Commences Bookings For The New Innova Crysta Across India

·       The iconic Innova has been a leader in the MPV segment since its first-generation model was introduced in India in 2005, having sold close to one million units till date.

·       The prestigious  New Innova Crysta with a brand-new tough and rugged front fascia will now be available in four grades of Diesel Manual Transmission

Zx (7 Seater)

Vx (7/8 Seater)

Gx (7/8 Seater)

G (7/8 Seater)

·       Powered by 2.4L Diesel Engine with a 5 speed Manual Transmission with Eco and power drive modes.

·       Safety features include  7 SRS Airbags, Front and Rear Parking Sensors, Vehicle Stability Control and Hill-Start Assist Control, Anti-Lock Braking System (ABS), Electronic Brakeforce Distribution ( EBD) and Brake Assist (BA), 3-point Seatbelt and Headrest for improved safety.

·       Enhanced passenger comfort with Rear Auto AC with Digital Display, 8-Way Power Adjust Driver Seat, Smart Entry System, Seat Back Table, TFT MID with detailed Drive Information, Leather Seat Color Options( Black & Camel Tan), Ambient illumination and One Touch Tumble Second Row Seats.

·       Smart Playcast 8’’touchscreen audio with Android Auto/Apple Carplay is available for a richer multimedia experience.

Toyota Kirloskar Motor (TKM) today announced opening of bookings for its New Innova Crysta.  Since its introduction in 2005, the vehicle has become a household name in the Indian market, having gained appreciation for its reliability, comfort, safety, luxury, and power. The New Innova Crysta now comes with an enhanced front fascia that has been designed keeping in mind the specific preferences for a rugged and robust appearance, thereby meeting the requirements of Indian families, Businessmen, Corporates and Fleet owners.

The opening of bookings for the New Innova Crysta closely follows the recently launched Innova HyCross (available in Gasoline and Strong Hybrid Electric powertrains) which has received an overwhelming response, being a vehicle for every occasion owing to its glamour quotient, advanced technology, comfort along with safety and thrill to drive,  is aptly suited for travelling solo or with family.

The commencement of bookings for the New Innova Crysta following the Innova HyCross launch is a testament towards Toyota’s multi technology approach to customers and caters to those who prefer to have a diesel powertrain.

Commenting on the announcement, Mr Atul Sood, Vice President, Sales and Strategic Marketing, Toyota Kirloskar Motor, said, “The iconic Innova’s journey in India has been dotted with milestones since its launch in 2005. Apart from being an undisputed segment leader, this vehicle, in all its avatars has been immensely appreciated across the country and has cemented the Quality, Durability and Reliability attributes of Toyota in the Indian market. As we open the bookings for the New Innova Crysta Diesel today, we would like to share with our customers that their favourite MPV is now available in four grades. This vehicle is a perfect choice for customers preferring a rugged and practical vehicle, well known for its unparalleled comfort and safety.

With both, the New Innova Crysta and Innova Hycross, now available for booking, across dealers and online, we are happy to say that our customers, who have aspired for their favorite Innova have a choice of multiple powertrains to enjoy their drive. “

Starting today The New Innova  Crysta  bookings are open for Rs 50,000. Customers can now book at the dealer outlets as well as online on www.toyotabharat.com. the New Innova Crysta is available in four grades G, GX, VX & ZX and in five colors – White Pearl Crystal Shine, Superwhite, Silver, Attitude Black and Avant Garde Bronze.

Hitachi Terminal Solutions Inaugurates Its Global CRM Manufacturing Facility In Bengaluru

* The company plans to employ more than 400 people in the future

Hitachi Terminal Solutions India, today announced that it is set to expand its manufacturing presence in India to complement the Government of India’s Make in India mission, through a first-of-its-kind Cash Recycling Machines (CRM) manufacturing facility in Bengaluru. This CRM manufacturing facility will be one of the largest facilities for Hitachi worldwide and is another step towards an expansive vision to build and strengthen a full-fledged Hitachi Campus in India, helping India to become self-reliant, and making it the Global supply hub for the world.

Spread over 1,08,000 square feet, this state-of-the-art manufacturing facility will enable the company to triple its current production capacity of 1,000 CRMs per month. The company also plans to employ more than 400 people in the future.

Hitachi’s facility is a testament to the central government’s vision of transforming India as a manufacturing hub for rest of the world. The core engine of the CRMs (Cash Modules) are localised and will now be completely assembled in India with high level of automation in this new facility, and also reaching a significant status of Make in India. Hitachi is the global leader in cash recycling and automation technology and has been pioneering this technology in India.

Yoshihiro Nakatani, Managing Director, Hitachi Terminal Solutions India Private Limited said, “Our estimate indicates that more than 1.1 million cash recycling machines* have the capacity to be installed globally by 2024. Owning to this, we have built a state-of-the art facility, with an aim to offer highly secure, lowest carbon footprint and technologically advanced CRMs to our customers. Hitachi Terminal Solutions India has delivered high-end cash recycling machines that meet the needs of customers in a timely manner. Hitachi Terminal Solutions India will continue its efforts for expanding its business ecosystem and developing solutions in India, to further augment the export of our products from India and thus contribute to the development of the Indian economy.”

Bharat Kaushal, Managing Director, Hitachi India said, “India continues to remain the melting pot of innovation and growth in Asia. Our presence through around 28 group companies in India, have registered progressive growth in the past and continue to do so in a more robust manner. India has the capacity and capability to grow as the next manufacturing hub, as evident by the current Government’s efforts to build high-end infrastructure, even in the hinterlands of India. Hitachi through its varied business presence has multiple manufacturing facilities across the length and breadth of India covering Energy, Automotive, Urban Mobility including Railways, Industrial UPS etc.”

With seamless connectivity to major highways, airports and skilled talent pool, the factory has been strategically located in Bengaluru and is the perfect choice for this investment for the company. Hitachi Terminal Solutions India is bringing its global best practices and advanced manufacturing technologies in this facility, thus enabling the company to augment the plant’s capacity to address potential changes in future demand.

* As per in-house research data

About Hitachi Terminal Solutions India

Hitachi Terminal Solutions India is a subsidiary of Hitachi Channel Solutions, Japan, a global leader in Cash Recycling Machines. Manufacturing in India started in 2016 and gradually the production increased to meet the growing domestic market requirements for both the public and private sectors as well as to limited international markets. The objective was to cater to requirements of the domestic sector specially while accelerating Make in India initiative.  The policy of this facility is ‘By Indian people, with Indian material, for Indian market’ and also the adoption of the best Japanese practices and technologies.

Mahindra Celebrates 74th Republic Day With The Launch Of #DeshKiAawaz Campaign

Mahindra & Mahindra's Farm Equipment Sector, part of the Mahindra Group and the world's largest tractor manufacturer by volume, today commemorated India's 74th Republic Day with a digital film called #DeshKiAawaz, recreating the national song Vande Mataram, as a special tribute to the country’s farmers.

An  immersive digital film, #DeshKiAawaz is a recreation of Vande Mataram, with sounds and sights from India’s farming ecosystem. The film captures sounds of Mahindra tractors in various applications through exhaust notes and engine sounds, including that of Mahindra’s popular tractor and farm machinery range. The film also showcases the diversity of farming across India and captures sights that celebrates the daily life of a farmer.

On India’s 74th Republic Day, Mahindra will also organise various customer engagement initiatives across dealerships and aim to create a record of the largest gathering of farmers singing India’s national anthem at the same time.

Hemant Sikka, President, Farm Equipment Sector, Mahindra & Mahindra Ltd said, “Farmers are an integral part of our country’s ecosystem, who over the decades, have worked relentlessly to serve our country. Our purpose at Mahindra is to Transform Farming & Enrich Lives and with the #DeshKiAawaz campaign we have created something unique to celebrate India’s 74th Republic Day across Mahindra’s dealerships with our farmers. #DeshKiAawaz is our tribute to the farmers of the nation on this special day.”

You can watch the #DeshkiAawaz video by clicking the link provided below:

Link:

https://youtu.be/SxRfk3SptQU

Tata Steel Recognised As Global Diversity Equity & Inclusion (DEI) Lighthouse 2023 By World Economic Forum

~ The only Indian company to feature in the global list of eight companies ~

~ Recognised for advancing intersectional gender diversity for employees and students through inclusive work policies and recruiting processes, upskilling and sponsorship ~

Tata Steel has been recognised as Global Diversity Equity & Inclusion (DEI) Lighthouse 2023 by World Economic Forum (WEF). The Company’s efforts towards improving gender diversity at the workplace have been chosen as one of the eight case studies and have been featured in the Global Parity Alliance: Diversity, Equity and Inclusion Lighthouses 2023 report published to coincide with the World Economic Forum 2023 held in Davos, Switzerland between 16 and 20 January. The insights report builds on the work of the Global Parity Alliance – a cross-industry group committed to advancing DEI around the world – and the associated DEI Lighthouse Programme launched to identify proven, effective DEI initiatives from companies across industries and geographies, organised by WEF’s centre for the New Economy and Society in collaboration with McKinsey and Company.   -

T. V. Narendran, CEO & MD, Tata Steel, said: “Developing and nurturing a diverse workforce in the manufacturing sector, particularly in the metals & mining sector, is filled with some unique set of challenges including the cultural and social barriers that we face here. What we have accomplished in terms of diversity in workforce is an outcome of a whole range of systemic initiatives implemented through very effective programmes and solutions. It is also important to acknowledge the role played by our employees and especially the union members who enthusiastically participated and contributed immensely to this ongoing journey. We are both proud and encouraged for being chosen as a success case and for being featured in the Lighthouse Report. We hope the Lighthouses and their stories will inspire employers across the globe to shape the future of workplace.”

The ‘Lighthouse Report’ while highlighting the approach and impact of Tata Steel’s efforts in improving diversity and inclusion (D&I) in the company said: “Tata Steel’s case for change centered around the conviction that in order to achieve their aspiration – to be the most valuable steel organisation in the world with a “future ready” and “pioneering” workforce – they needed to invest in culture as a key enabler. Tata Steel’s leaders identified DEI as a central pillar of that culture because of the importance of diversity and inclusion in fueling innovation.”

The report while acknowledging the particular challenges faced by Tata Steel because it is operating in the mining and manufacturing sector known for being a largely male-dominated workforce, commended the Company’s impact-driven approach to bringing more women and LGBTQIA+ members into its workforce. The launch of the ‘25 by 25’ programme in 2019 aspires to have 25% diverse workforce in Tata Steel by 2025.

Schwing Stetter India Unveils The 25th Year - Silver Jubilee Celebration Logo And Tagline

* “The company will be announcing several outreach campaigns, industry-academia engagements, and partner activities throughout the year to celebrate the accomplishment.”

Schwing Stetter India - the country’s leading concreting and construction equipment manufacturers, unveiled today - its Silver jubilee  logo and tagline to celebrate the milestone of turning 25 years in India in 2023. The company will be engaged in a series of activities to celebrate the accomplishment with customers, business partners, employees and student communities throughout this year.

The unveiling of the 25th year silver jubilee logo took place at its corporate headquarters and works at Sriperumbudur, Tamil Nadu, in the presence of the company’s employees and partners. V.G. Sakthikumar, Managing Director of Schwing Stetter India, presided over the gathering and revealed the anniversary logo and tagline – “25 Years of Passion and Innovation”.

Speaking at the event, Mr. V.G. Sakthikumar, Managing Director of Schwing Stetter India, said: "I am delighted to release the logo. This is not just a celebration of 25 years, but going forward, we are rededicating ourselves for the next 25 years. We incorporated every aspect of our vision and values in the logo, and we are focused on becoming the number one global brand in innovation, manufacturing and technology of construction and mining equipment. And aim to be the most trusted brand for customers, by offering best in class solutions with sustainable value creation”

"Throughout our 25-year history in India, Schwing Stetter has held to its commitment to its employees. This year, the company aims to further nurture the talent of the employees and transform them as responsible leaders. The company's mission is to set themselves as a benchmark for global best Environmental, Social and Governance practices." he added. 

The company will continue to work towards building momentum into its next chapter and create sustained growth and profitability to all stakeholders by launching new products, and increasing the manufacturing talent ecosystem in India.

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 the 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, and concrete recycling plants, plastering pumps, self-loading mixers, and sludge pumps.

Schwing Stetter (India) sells and services equipment like concrete pavers, aerial working platforms, all-terrain cranes, cold milling machines, crawler cranes, excavators, horizontal directional drilling, motor grader, rotary drilling rig, tower crane, truck cranes, and wheel loader are our various newer range of equipment that has 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 that offer ready-mix concrete. Schwing Stetter has its manufacturing units in 12 countries including Germany, Austria, USA, Brazil, Russia, Ostrava, UK, and 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/  

PhonePe CEO Sameer Nigam & CTO Rahul Chari Discuss The Company’s Recent Fund Raise, Redomicile And Future Plans

-       In a live session titled ‘Making it Big in India’ Sameer talks about startups aspiring to move back to India

-       Rahul speaks about new initiatives to scale up the PhonePe business

PhonePe, one of India’s largest fintech platforms, today held a live session featuring Sameer Nigam, Co-Founder & CEO, PhonePe and Rahul Chari, Co-Founder & CTO to address questions around the recent news around PhonePe’s recent $350Mn fundraise led by General Atlantic, the company’s redomicile from Singapore to India and future plans for India’s most valued fintech company.

To kickstart the session Sameer spoke about PhonePe’s domicile change and the reason for the move. He said ‘’I think for the mission PhonePe is on - which is solving for at-scale financial inclusion and digitization - the move to India was right. India is where we started and where we are focused on, and I think we will be here for the next couple of decades. And to that end, for various reasons like being a highly regulated entity and wanting to eventually list here, the change of domicile to India for PhonePe as a business and as a company is the right answer.’’

Talking about the challenges faced in moving domicile, Sameer said, “If you want to move to India as a domicile, we have to do a fresh market valuation and pay tax on the delta. Our investors have paid almost Rs.8000 crores in taxes just to allow us to come back to India. Another challenge was to convince several thousand employees that they're ESOPs are back to zero vesting at a one year cliff, because the law in India says if you migrate, you still have to start with a new one-year cliff. It's very hard for startups, particularly early stage startups, to convince employees that they’re ESOP vesting status reverts back to zero.” Sameer also spoke about the need for more progressive Indian laws that allow startups to move back to India, given how rewarding having a relationship with customers in the local ecosystem is.”

Touching upon the recent spinoff from Flipkart, he said, ‘’When we started talking about the domicile shift for PhonePe, obviously we had to align not just our board and our direct shareholders, but Flipkart being the majority shareholder, their board and their investors as well. It is a big investment of time, money and effort. And when we started having discussions on a  long-term view, it became clearer that these two companies are on very, very different tracks strategically as well as market wise. So it made more sense to separate the two entities. This also gives us the opportunity to be able to get in other investors who may have their investment strategies more aligned to the kind of business that we're in, which is fintech & payments.”

Addressing the excitement around the recent fundraise and the $12Bn valuation, making PhonePe a decacorn and India’s leading Fintech company, Sameer said, “General Atlantic, is a really good blue chip global investor that has a long view on companies, which gives us the flexibility to be able to actually do at-scale investments in new sectors like insurance, lending, broking or ONDC. They understand what we're trying to do really well as they are tracking the ecosystem. So I think it was just easy alignment at several levels, obviously excited to have them anchor the round.’’

Expressing excitement about PhonePe’s future strategy, Rahul said, “We want to play a very important role in fulfilling the ambition of  taking digital payments in India to a billion transactions a day, from close to half a billion, with NPCI, RBI and the entire Fintech ecosystem. We want to actually help scale payments with a whole bunch of new initiatives that are coming on UPI. We will be looking at launching new products and offerings be it lending on the merchant side, lending on the consumer side, a lot of new open API initiatives like account aggregator and ONDC. I think India is just going to explode on the digital front and with the kind of patient capital backing us, we'd love to actually play a small and move it over time.”

Watch the full conversation here: https://youtu.be/NLJ4O6TAF5A

About PhonePe:

PhonePe was founded in December 2015, and has emerged as India’s largest payments app, enabling digital inclusion for consumers and merchants alike. With 43.5 crore (435+ Million) registered users, one in four Indians are now on PhonePe. The company has also successfully digitized ~3.5 crore (~35 million) offline merchants spread across Tier 2,3,4 and beyond, covering 99% pin codes in the country. PhonePe is also the leader in Bharat Bill Pay System (BBPS), processing over 45% of the transactions on the BBPS platform. PhonePe forayed into financial services in 2017, providing users with safe and convenient investing options on its platform. Since then, the company has introduced several Mutual Funds and Insurance products that offer every Indian an equal opportunity to unlock the flow of money and access to services. PhonePe was recently recognized as the Most Trusted Brand for Digital Payments as per the Brand Trust Report 2022 by Trust Research Advisory (TRA).