Goldmedal Electricals Introduces Star-Rated Vector Fans Across India

·         These decorative fans are the ultimate solution for style and performance with innovative styling

·         It also comes with a motor that performs optimally while saving on energy consumption

Goldmedal Electricals, India’s leading electrical manufacturing company launches the Vector fan as part of its star-rated decorative fans segment for the summers. This innovative and stylish fan is designed to not only accentuate your homes or offices but also to perform efficiently.

Goldmedal’s Vector fan defines performance with a powerful motor and aerodynamic blades promoting a wider conical spread of breeze to ensure air distribution in each and every corner of the room. A highly durable fan, the Vector is available in attractive colours with an anti-dust coating to withstand daily use. Goldmedal’s Vector is a star-rated decorative fan that ensures much less power usage compared to traditional fans.

Vector fan also offers features such as:

·         Star-rated fan which adhere BEE norms

·         Excellent and long-lasting paint finish with attractive colour options 

·         50w @230v with 210 cmm air delivery

·         Incredibly quiet

·         Double ball bearing

·         High-grade copper motor

Commenting on the latest addition to the fans segment, Bishan Jain, Director, Goldmedal Electricals, said, “Today, the world faces a critical challenge in the form of climate change and environmental sustainability. It is now more important than ever that we consciously choose energy-efficient technologies and solutions that not only consume less energy but also have less impact on the environment. At Goldmedal Electricals, we are committed to providing consumers with energy-efficient fans that not only offer superior performance and style but also come at affordable prices. Our star-rated fans have been designed to reduce power consumption, cut down electricity bills, and promote a greener planet. With the Vector fan and our range of energy-saving models, we guarantee that Goldmedal fans will provide high-speed cooling, whisper-quiet operation, and stunning aesthetics.”

The fan is available at INR 3900/- and can be purchased from leading retail stores. Goldmedal Electricals, one of India’s leading Fast Moving Electrical Goods (FMEG) companies is known for its wide range of star-rated decorative ceiling fans. The company also offers a variety of modular switches and accessories, home automation systems, luminaries and LED lights, wires and cables, doorbells, fans, PVC pipes, DBs, MCBs, and others.

About Goldmedal Electricals

Goldmedal Electricals is a homegrown electrical company which was established in the year 1979 with a vision to create electrical switches and accessories that make a positive difference to the lives of consumers. The company is known in the industry for manufacturing high-quality wiring devices and introducing a host of innovations in the industry. In 1981, Goldmedal entered the Wires and Cables business. In 1995, the company set up a state-of-the-art manufacturing unit in Goregaon, Mumbai for the manufacturing of wires & cables, and modular switches. Alongside Wires and Cables, the company today manufactures a vast range of electrical products including various types of switches, home automation systems, security systems, entertainment devices, fans, wires and cables, doorbells, electrical accessories, and more for residential buildings as well as commercial establishments.

63% Indian Consumers To Cut Back Non-Essential Spending;, Less Friction In Shopping,: PwC Global Consumer Insights Pulse Survey

* 74% of the Indians are either very concerned or extremely concerned about their personal financial situation

* 47% of Indian consumers say they will shop with retailers that offer free/discounted product delivery

* Rising prices and supply chain disruption are leading shifts in consumer behaviour both in-store and online

Consumers globally are weighed down by concerns around cost of living and personal finances. Around 74% of Indian respondents say they are concerned about their personal finance situation, as opposed to 50% globally. 63% of Indian consumers are cutting back non-essential spending altogether, according to the 2023 PwC Global Consumer Insights Pulse Survey, which captured the views of 9,180 consumers across 25 territories. In India, the survey included 500 Indian respondents across 12 metros, tier-1 and tier-2 cities of India (Mumbai, Delhi-NCR, Bengaluru, Visakhapatnam, Chennai, Kochi, Kolkata, Nagpur, Jalandhar, Hyderabad, Meerut and Rajkot). Out of these, 57% of the respondents were male and 43% were female.

The survey also found most Indian consumers expecting to reduce their expenditure across all surveyed categories over the next six months, a significant decline in planned spend across all categories since the previous pulse survey in June 2022. Industries, including luxury and premium products, travel, and fashion, expect to see the greatest portion of consumer spend reductions over the next six months, whereas the groceries segment is expected to decline the least.

Sharing insights from the survey, Ravi Kapoor, Partner and Leader - Retail & Consumer, PwC India said: “PwC’s latest Global Consumer Insights Survey for India drives home the key message of ongoing financial stress in the lives of the consumers, where 75 percent of them are very concerned about their financial situation. This sentiment will have a potential restraining effect on spends in highly discretionary categories of electronics and luxury. Consumers will continue to demand world-class buying experiences in both physical and digital channels with work cut out for brands to reduce costs, enhance availability, and for ‘going local’. The silver lining here remains the unequivocal growths in adoption of digital channels and the desire to spend more on travel in the coming months.”

Key trends emerging from the survey results:

Cost of living weighs on consumer confidence

Consumers, globally, are shifting their consumption habits in-store and online as the cost-of-living surges and supply chain disruptions impact product availability and delivery times. As a result, almost half (45%) say they are buying certain products when on offer/promotion, 44% are looking to retailers offering better value, 38% are using comparison sites to find cheaper alternatives, 36% are buying in bulk to save cost, and 33% are buying retailers’ personal brands for better savings.

Supply chain disruption is shifting in-store/online consumer behaviour

Half of the Indian consumers (50%) said rising prices remain the most frequently experienced issue when shopping in-store, supply chain issues also dominate with larger queues and busier store locations (35%), along with product availability (28%), which is also impacting consumer behaviour.

Luxury/premium product industry to see decline in consumer spend

Consumers are planning to reduce their spending across all surveyed retail categories over the next six months, with the greatest decrease forecast in luxury/premium products or designer products (38%), virtual online activities (32%), consumer electronics (32%) and fashion products (clothing and footwear) (31%). However, there remains an appetite for future spend, with 38% indicating they will look to treat oneself/others, whereas 54% view them as better quality. Travel (30%) and groceries (21%) had the least reported planned spend reduction.

Vocal for local (Sustainable products are in demand from consumers)

Despite a planned spend reduction and a challenging economic environment, consumers say they are still willing to pay more for sustainable products. Overwhelmingly, more than 88% are willing to pay higher for a product that is produced/sourced locally, or made from recycled, sustainable, or eco-friendly materials (87%), or produced by a company with a reputation for ethical practices (87%). 

Metaverse: Early-stage adoption strong, executives recognise the importance of risk management, cyber security and governance

Adoption of the Metaverse as a shopping channel is still in its early stages, however, the medium remains under-utilised, with only one-quarter (23%) of Indian respondents familiar with the term. The largest portion of these users have primarily employed the Metaverse for virtual reality (VR), i.e., playing games or watching a movie (20%), experiencing the virtual world through the retail environment or a concert (13%), or purchasing a digital product, such as a Non-Fungible Token, or NFT (17%). Millennials (36%) are most likely to use the Metaverse, especially in countries like India (48%), Vietnam (43%), and Hong Kong (42%).

All the while, as online shopping continues to grow in volume, consumers are increasingly weary of data privacy. 65% of respondents are extremely or very concerned when interacting with social media companies, third-party/portal travel websites (54%), healthcare (59%), and consumer companies (58%). As a result, 41% respondents do not share more personal data than they must, 37% opt-out from receiving communications from these companies, and 38% have overall reduced their interaction with these types of companies.

About the survey:

PwC surveyed 9,180 consumers from October 24 to November 16 of 2022 via a 15-minute online quantitative survey. Interviews were conducted with consumers in twenty-five participating territories, and the survey was translated into fourteen languages. This survey highlights movements between pulses (with the preceding pulse being conducted in March of 2022) and explores any key data points in detail.

The full Indian perspective findings can be accessed at: https://www.pwc.in/GCISIndia

Air India Concludes First Phase Of Transformation Program – Vihaan.AI

* Launches growth phase of Take Off

Air India, India’s leading airline and a Star Alliance member, has reached the conclusion of the first phase of Vihaan.AI, its comprehensive 5-year transformation plan. This first phase called Taxi, was focussed on addressing legacy issues of the airline at scale and laying the foundation for future growth. The conclusion of the first phase also marks the beginning of Take Off, the second phase of transformation which is focused on developing the platforms, processes and systems needed to build toward excellence.

Commenting on the conclusion of the Taxi phase, Mr. Campbell Wilson, CEO & MD, Air India said, “The first six months of our transformation journey has engaged and united Air Indians behind a common cause, and made great strides in tackling many issues that had built up over the years.  During this Taxi phase, we have also come a long way in establishing foundations for growth.  Our record-setting aircraft order, the commitment of $400m to completely refurbish existing aircraft, the investment of $200m in new IT, and the recruitment of literally thousands of staff are but a few of the significant investments being made to restore Air India to the upper echelons of global aviation.  As we move into our Take Off phase, we will start seeing these investments bear fruit.  All Air Indians are very grateful to partners and supporters as we continue this journey.”

Some of the significant achievements during the Taxi phase include:

Customer:

* Committed over USD 400 Mn for aircraft refurbishments

* Revamped menus on international and domestic routes

* Launched Premium Economy seats for the first time ever on select long-haul flights

* Insourced some of the critical customer service functions and initiated revamp of customer notification system for all touchpoints.

* More than 1 million legacy refund cases settled between February - December 2022

* Implemented multiple customer compensation policies to aid service recovery

* Launched RFP for new customer contact centre

* Recruited, with AISATS, hundreds of additional airport staff to improve customer experience

People:

* Rolled out new organization structure and revamped roles across levels with a conscious effort to address the disparities between permanent and full-term contract employees

* Rolled out over 29 new policies across employees to improve welfare

* Designed new remuneration programs for legacy staff

* Introduced 2 new training programs, Saksham and ACE, to upskill staff and improve service

* Onboarded more than 3800+ employees across crew and other functions to support capability and growth

Growth & Commercial Excellence:

* Signed the industry’s largest-ever order for 470 aircraft

* Expedited fleet expansion with 36 leased aircraft, including 11 widebodies, being delivered in 2022-23

* Restored to service, or decommissioned pending sale, all long grounded aircraft

* Added 6 new international routes while increasing the frequency on another 24

* Attained highest ever single-day passenger revenue, highest ever cargo revenue, highest ever ancillary revenue, and highest ever load factor

* RASK (revenue per available seat kilometre) improved by 17% over a period of a year

Digital:

* US$200 being invested in upgrading IT systems including implementing Salesforce for CRM integration and upgradation of SAP ERP system from obsolete mainframe to the cloud, upgradation of the website, employee self-service systems, learning management systems, safety management system, world-class rostering, and day-of-ops systems as also introducing iPads across the fleet to better empower crew and improve processes.

Operations:

* Most improved domestic On-Time Performance (OTP) across the sector in the last one year with a consistent top 3 ranking

* Comprehensive spares and support agreements reached to improve worldwide reliability

* Performance Improvement Programme underway with Boeing to improve 787 reliability

* In-flight Entertainment (IFE) systems have been restored to working order on nearly all first and business-class seats, with economy seats being up to nearly 90%.

* Engineering function completely rebuilt, with new people and systems.

* World-class flight safety expertise and systems on boarded

* First airline in the world to successfully undertake the risk-based IATA Operational Safety Audit.

Influence & Responsibility:

* Signed MoU with CSIR – Indian Institute of Petroleum for adoption of Sustainable Aviation Fuels (SAF)

* Re-engaged with the global aviation industry relationships including joining industry associations like AAPA and FIA

* Reactivated more than 10 codeshare agreements and in active alliance discussions with other airlines

* Actively engaged with Star Alliance, IATA, Flight Safety Foundation

* Adopted ‘Go Green, Go Paperless’ initiative including adoption of e-signature

The conclusion of the Taxi phase also marks the beginning of Vihaan.AI’s Take Off chapter. Take Off is focussed on building the right platforms and progress faster based on the momentum that has been established. This phase will also witness the consolidation of the group airlines AirAsia India and Air India Express. The LCC entity has successfully merged their core reservations platform, websites, and customer-facing systems. Vistara will also be merged with Air India following the grant of regulatory approval.  The development of a world-class training academy will also take shape as also the future direction and configuration of the airline’s line and base maintenance.

Vihaan.AI, which in Sanskrit signifies the dawn of a new era, has a detailed roadmap for Air India with clear milestones focussing on dramatically growing both its network and fleet, developing a completely revamped customer proposition, improving reliability and on-time performance, and taking a leadership position in technology, sustainability, and innovation, while aggressively investing behind the best industry talent. The plan is aimed at putting Air India on a path to sustained growth, profitability, and market leadership.

About Air India:

Founded by the legendary JRD Tata, Air India pioneered India’s aviation sector. Since its first flight on October 15, 1932, Air India has an extensive domestic network and has spread its wings beyond to become a major international airline with a network across USA, Canada, UK, Europe, Far-East, South-East Asia, Australia and the Gulf. Air India is a member of Star Alliance, the largest global airline consortium. After 69 years as a Government-owned enterprise, Air India and Air India Express were welcomed back into the Tata group in January 2022. The present management at Air India is driving the five year transformation roadmap under the aegis of Vihaan.AI to establish itself as a world-class global airline with an Indian heart.

About the Tata Group:

Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals. The group operates in more than 100 countries across six continents, with a mission 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’.

Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation, and art and culture. In 2020-21, the revenue of Tata companies, taken together, was $103 billion (INR 7.7 trillion). These companies collectively employ over 800,000 people. Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of $314 billion (INR 23.4 trillion) as on December 31, 2021. Companies include Tata Consultancy Services, Tata Motors, Tata Steel, Tata Chemicals, Tata Consumer Products, Titan, Tata Capital, Tata Power, Tata Communications, Indian Hotels, Tata Digital and Tata Electronics.

Bangalore Tops The List Of Cities With The Highest Credit Demand From Millennials: CASHe Study

* CASHe Releases Its Exclusive Financial Mood Of The Millennials (FMOTM) 2022-23 Report

·         84% of millennials prefer credit lines over instant personal loans or BNPL.

·         Medical bills and monthly expenses are the top reasons for borrowing.

·         49% of millennials prefer small-ticket loans of less than Rs.10k

·         Bangalore tops for credit demand among millennials

·         UPI is the second most popular method to repay after e-NACH (auto-debits)

·         SIP is the most popular investment option for millennials.

CASHe, India’s leading credit-led, AI-driven financial wellness platform, today released the Financial Mood of the Millennials 2022-23 report, an exclusive and proprietary analysis based on a pool of 540,000 customers.  The report reveals unique and valuable insights into the millennials borrowing, spending, and investing habits.

One of the top findings of the report is that 84% of its customers prefer to take a credit line over personal loans (14%) and BNPL (2%). Satchetised loans of less than Rs 10,000 are preferred by 49% of millennials. The data further indicates a significant credit demand from bureau-based prime (44%) and near-prime (38%) millennials, thereby reinforcing the need for unsecured and hassle-free digital credit products that are easily accessible by all.

Unforeseen medical and monthly expenses are the top two reasons for availing short-term digital credit followed by shopping, home renovation, education, etc. Bangalore leads all the cities in India for credit demand followed by Hyderabad, Pune, Ghaziabad, and Gurgaon.  The data also throws up a surprising insight – West Bengal, Punjab, Gujarat, Assam, and Kerala represent the states from where millennials with the highest bureau scores have availed credit from CASHe. Incidentally, the customers chose UPI (27%) as the second most preferred repayment method after e-NACH (36%).  2022- 23 also saw an uptick of 1% in women borrowers compared to previous years.

The report also sheds interesting light on millennial investment habits using the customer base of its Sqrrl investment platform. It is observed in the report that 68% of millennials seek assistance from financial advisors for making investment decisions. Another 45% trust social media as a prime source to make investment decisions.

The report also states that about 37% of millennials are still somewhat financially dependent on their parents, but a majority of 63% of millennials are financially independent. SIP has emerged as the most popular option for online investors, accounting for 35% of their investing activities, interest in digital gold (18%) is beginning to catch up, followed by tax-saving products (15%), goal-based investments (10%), real-estate (9%), & fixed deposits (5%). There is a growing consciousness among millennials to start saving early for their post-retirement life. More than 33% of millennials stated they believe in saving 20% of their annual income to become financially secure for retirement.

Speaking on the release of the FMOTM, 2022-23 Report, Mr. V. Raman Kumar, Founder Chairman, CASHe, said, “The report offers unrivaled access to a large sample of data covering over 540,000 millennials – the insights provided here are valuable to policymakers, financial institutions, and researchers to better understand the borrowing, spending and saving habits of over 125 million credit-starved and underbanked urban mass of millennials. The India consumption story is defined by the credit and spending habits of this cohort. CASHe is committed to building its entire financial wellness business around catering to this cohort in order to create a financially inclusive Bharat in the coming years.”

About CASHe:

Headquartered in Mumbai, CASHe is one of India’s leading AI-based, credit-led financial wellness platforms focused on making financial inclusion possible by serving the underserved digital customers in India. The company is driven by its laser focus to unlock opportunities for the millennial and Gen Z population by making financial inclusion and accessibility possible using its cutting-edge algorithms and AI and ML-based credit decisioning model called the Social Loan Quotient (SLQ). Since its launch in 2016, CASHe has registered over 30 million app downloads on the app store and has disbursed loans worth Rs 7,000 crores to over 9 lakh customers. Its affordable interest rates, instant processing, and flexible repayment options make it India’s most preferred digital credit platform. In recent years, CASHe has constantly introduced new product offerings and services in line with increasing consumer demands and has successfully transformed itself into a full-fledged financial services platform that offers its customers credit, investment, insurance, and EMI shopping.

https://www.cashe.co.in/

https://sqrrl.ina

Aditya Birla Sun Life AMC Limited’s Target Maturity Funds AUM Surpasses Rs 20,000 Crore in April 2023

* Aditya Birla Sun Life AMC Limited’s Passive AUM Surpasses Rs 25,000 Crore In March 2023

Aditya Birla Sun Life AMC Limited, a subsidiary of Aditya Birla Capital Limited and an investment manager for Aditya Birla Sun Life Mutual Fund, has further strengthened its presence in the target maturity space with its asset under management surpassing Rs 20,000 crore mark in April 2023. The company offers the widest range of target maturity funds across the industry.

The passive funds vertical also reached an important milestone with its AUM crossing Rs 25,000 crore in March 2023. Along with other ETFs, they are also the first AMC to file and launch a Silver ETF & FoF, and offer Smart Beta portfolios, such as the Nifty 50 Equal Weight, Momentum, and Quality.

Commenting on the milestone and growth of their Passive AUM, A. Balasubramanian, Managing Director and Chief Executive Officer of Aditya Birla Sun Life AMC Ltd., said, “We are happy to announce that our passive funds have achieved a significant milestone by crossing Rs. 25,000 crores of assets under management along with target maturity funds crossing Rs 20,000 crores. This accomplishment reflects the growing popularity of passive investing in India, as well as the trust our investors have placed in us. While we remain committed to providing top-quality active investment opportunities to our investors, we are equally excited about the passive investment space.”

Neuberg Anand Reference Laboratory Study Shows Decrease In Vitamin B12 Deficiency Among Adults Over Past Decade

The Data Science department at Neuberg Anand Reference Laboratory, Bangalore conducted a retrospective study on serum Vitamin B12 levels. A total of 1,49,494 anonymised results of  females aged between 20-80 years and 1,20,454 results of  males aged between 20-80 years were retrieved from their database and analysed. The study aimed to investigate the trend in VitB12 deficiency in the past decade (2013-2022).

The analysis revealed a 14% decrease in B12 deficiency among women in the age groups 20-40 and 40-60 years, and an 8% decrease in the age group 60-80 years.. A similar downward trend  was also seen in men in the respective age groups. The downward trend in % of B12 deficients may be due to increased awareness and screening for VitB12 deficiency. The below graphs shows the gender wise trend.

 The significant increase in B12 deficiency observed in 2021may be attributed to the COVID-19 pandemic, leading to less accessibility to testing centers and the overall shift in the general healthcare focus towards fighting COVID-19.

“This study has shown a decrease in the prevalence of vitamin B12 deficiency in recent years, indicating a growing awareness and emphasis on nutrition and preventive health measures. Over a decade, the B12 test methods have also improved and are now more sensitive to early B12 deficiency leading to early detection and correction of deficiency. The higher % of deficiency among males in comparison to females may be related to a larger population of men who regularly consume alcohol, leading to Vit B12 deficiency. " by Dr. Sujay Prasad, Medical Director, Neuberg Diagnostics.

It should be noted that the data analysed is a representation of a tertiary diagnostic center and does not represent the entire population. The study's findings suggest the need for increased awareness and screening for Vitamin B12 deficiency among different age groups and genders to reduce the prevalence of this deficiency.

About Neuberg Diagnostics:

Neuberg Diagnostics, headquartered in Chennai, is one of India’s leading diagnostic service providers with its presence in India, UAE, South Africa, and the USA. With laboratories accredited by CAP  and NABL, Neuberg has emerged as one of India's fastest-growing and most trusted diagnostic centres.  The group has created accessibility to state-of-the-art diagnostic technologies and possesses some of the finest clinical Pathologists, Biochemists, Geneticists, and several other certified clinical lab professionals, with the capability to perform over 6000 varieties of pathological investigations. Neuberg Diagnostics is bringing in newer-generation diagnostics techniques to practice in the area of personalized medicine. They aim to provide affordable and accurate diagnosis to all strata of people.

Zuari FarmHub Launches “Poorna Advanced” With LCO Promoter Technology From Novozymes

Zuari FarmHub, one of the leading agri-tech players in India has partnered with Novozymes South Asia Pvt. Ltd., a world leader in biological solution and announced the launch of its 100% Water soluble fertilizer ‘Poorna Advanced” with innovative LCO Promoter Technology. This technology acts as a signaling pathway between the plant and the beneficial microbes in the soil near the plant’s roots. Thus promoting a healthy root zone, enhancing nutrient uptake and improving crop resilience.

Poorna Advanced is a high quality product specially designed for foliar and fertigation. The 1:1:1 NPK ratio in this product makes it an ideal fertilizer for application across various crop segments like field crops, plantation crops, vegetables, commercial crops etc., which require equal amount of Nitrogen, Phosphorus & Potassium in the initial stages of plant growth. Being 100% water-soluble, ‘Poorna Advanced’ dissolves quickly and releases ions that are easily absorbed by the plants.

While announcing the launch, Mr. Madan Mohan Pandey, MD of Zuari FarmHub Ltd. said, “Zuari FarmHub is continuously working to bring unique and innovative products to Indian farmers. Towards this endeavour , the company has tied up with Novozymes , a global leader in bio-solutions head quartered in Denmark. Together we have introduced a technically superior product that promotes faster nutrient absorption by the roots and increases the crop resilience to abiotic and climatic stress. This will help improve fertiliser use efficiency and improve productivity. Zuari FarmHub is the first company to bring LCO promoter Technology to fertilisers.”

Shanmugam Sambanthan, Novozymes India Commercial Head of Agriculture commented, “We are excited to collaborate with Zuari FarmHub to introduce ‘Poorna Advanced’ a cutting-edge water soluble fertilizer which incorporates Novozymes LCO Promoter Technology. This revolutionary biological innovation promotes soil health, enhances nutrient uptake, and boosts crop resiliency. The collaboration harnesses the extensive agricultural market knowledge of Zuari FarmHub and Novozymes' biosolutions expertise to deliver a groundbreaking product that will significantly enhance farmers' productivity and promote sustainable farming practices.”. 

Over the years, agriculture productivity in India has been stagnating, primarily as a result of the imbalanced nutrient content of soil and fertilizer usage, declining fertilizer response ratio, soil contamination, and unpredictable weather patterns. With agricultural productivity, the fertilizer response ratio is gradually showing a considerable dip as well which means that crops are not responding to chemical fertilizers as they used to.  This is where the LCO technology used in ‘Poorna Advanced’ can vastly improve nutrient availability in the soil, enhance nutrient uptake and boost crop resiliency leading to higher yields in a sustainable way. Extensive researches have established and proven that LCO Promoter technology helps in building beneficial soil microbial communities, thereby, enriching soil fertility and improving crop productivity.

Photo Caption - From left Shanmugam Sambanthan, Novozymes India Commercial Head of Agriculture and Mr. Madan Mohan Pandey, MD of Zuari FarmHub Ltd..