Akshayakalpa Organic Signs MoU To Finance Smallholder Organic Dairy Farmers

~ Up to 1,500 Akshayakalpa farmers, in the states of Karnataka, Tamil Nadu, and Telangana will benefit from the partnership ~

Akshayakalpa Organic has signed a Memorandum of Understanding (MoU) with British International Investment plc (BII), the UK’s development finance institution and impact investor, and Samunnati Financial Intermediation & Services Private Limited (Samunnati) to provide financing to up to 1,500 smallholder dairy farmers in the states of Karnataka, Tamil Nadu, and Telangana.

The partnership will see BII extend guarantees for new and existing Akshayakalpa Organic smallholder farmers, who are typically outside of the formal lending ecosystem, to enable them to access formal financing in order to scale up their organic dairy business. This commitment is made through BII’s £200 million Climate Innovation Facility, announced by the UK Government at COP26 to provide finance for the most pioneering climate solutions in developing countries.

The MoU underscores Akshayakalpa Organic’s commitment to foster sustainable agricultural practices and empower local farming communities. The company, which is renowned for its dedication to organic and ethical dairy farming, will leverage this partnership to enhance the betterment of the farmers. This will be achieved through the provision of infrastructure, advanced technologies, and comprehensive support to the farmers in its network.

Through Akshayakalpa Organic’s engagement, farmers are supported to transition to organic and sustainable and regenerative farming practices to diversify their income streams, which increases milk production per cow by 2.3 times and increases crop productivity per acre while obtaining organic certification. Transitioning to this organic model is expected to decrease the greenhouse gas emissions per litre of milk produced by Akshayakalpa Organic’s farmers and contribute to climate change mitigation and sustainability of the dairy industry in India. 

The MoU was signed in the presence of Mr. Shashi Kumar, CEO & Co-founder, Akshayakalpa Organic, Mr. Chandru Iyer, British Deputy High Commissioner - Karnataka & Kerala and HM Deputy Trade Commissioner for South Asia, Mr. Anil Kumar SG, Founder and CEO of Samunnati and Mr. Srini Nagarajan, Managing Director and Head of Asia at BII.

Mr. Shashi Kumar, CEO, & Co-founder, Akshayakalpa Organic, in expressing his enthusiasm on signing the MoU, stated: "This association with British International Investment and Samunnati’s Agri Commerce and Finance Solutions marks a significant milestone for Akshayakalpa. It not only validates our mission to promote sustainable and organic farming but also amplifies our ability to make a positive impact on the lives of our dedicated farmers. This will help us accelerate our plans of providing consumers with the finest organic dairy products while promoting ethical and sustainable farming practices across Karnataka, Tamil Nadu and Telangana. We are excited about the possibilities that this collaboration opens up for the future of agriculture in India."

Mr. Chandru Iyer, British Deputy High Commissioner - Karnataka & Kerala and HM Deputy Trade Commissioner for South Asia, said: “The UK is committed to supporting environment-resilient farming initiatives in India through British International Investment. We look forward to working with organisations such as Akshayakalpa that are closely working with smallholder farmers to ensure sustainable farming practices that will help to improve food security in India.” 

Mr. Srini Nagarajan, Managing Director and Head of Asia at BII, said: “Promoting inclusion and sustainable practices are key pillars of BII’s strategy in India. As the UK’s DFI, BII is well placed to provide guarantees through this partnership to improve access to finance for smallholder farmers which will help to sustainably increase their productivity and improve their livelihoods, while helping to mitigate climate impact of the dairy industry in India.”

Mr. Anil Kumar SG, Founder and CEO of Samunnati, emphasized the significance of the occasion, stating: “The signing of this MoU marks a pivotal moment in our mission at Samunnati. We are privileged to partner with British International Investment and Akshayakalpa Organic in this endeavor. This collaboration not only acknowledges Akshayakalpa Organic’s impactful work in the agricultural sector but also signifies a shared commitment to positive transformation. Together, we aim to benefit both the farmers associated with Akshayakalpa Organic and the broader agricultural landscape.”

Mr. Anil Kumar SG further highlighted the broader mission, stating: “Samunnati's commitment extends beyond financial partnership. The company is dedicated to fostering sustainable practices and empowering local farming communities.”

The MoU not only serves as a testament to Akshayakalpa Organic's impactful work in the agricultural sector but also signifies a shared commitment to fostering sustainable practices and supporting local farming communities. This collaboration is poised to bring about positive transformation, benefiting both the farmers associated with Akshayakalpa Organic and the broader agricultural landscape.

Turtle Wax Celebrates Its 5th Anniversary Across Indian Market

~Introduces all-new Paint Protection Film across Car Care Studios; Inaugurates its first-ever Experience Centre~

Turtle Wax, Inc., an award-winning Chicago-based car care company, today announced the completion of 5 successful years of its operations in India. With a rich global history of over 75 years of excellence in providing car enthusiasts with formulas to meet their ever-changing needs, on this day in 2019, Turtle Wax started its India innings.

To celebrate the occasion, Turtle Wax also announced the launch of its Smart Shield™ - Paint Protection Film, exclusively across all of its co-branded Car Care Studios® in India. The PPF comes with a revolutionary self-healing topcoat, exceptional resistance to UV rays, and superior protection to OEM-painted surfaces. This is to offer unmatched scratch resistance, protection from stains, and weathering all while ensuring that a high gloss finish and optical clarity are delivered. The service comes in two variants - 5 years of warranty and 3 years of warranty.

Apart from this, Turtle Wax also inaugurated its first-ever Experience Centre in Bengaluru, India. The Centre features a 1500-sq.-ft. area dedicated to showcasing the innovation and excellence in car detailing. The Centre, the first of its type in the country, encourages existing detailers to dive into the basics to advanced skills of detailing in an easy-to-learn environment and gain an in-depth understanding of not only Turtle Wax’s journey but also its products and philosophy.

Commenting on the occasion, Mr. Sajan Murali Puravangara, Managing Director of Turtle Wax Car Care India Pvt. Ltd., said, “This fifth anniversary of Turtle Wax in India is a testament to our strength and the brand’s presence and commitment toward the growing Indian car care culture. It's great to revisit the journey of these past 5 years and commemorate the strong synergies that have led to incredible success stories while capturing the hearts of auto enthusiasts and car owners. The growth across channels has been incredible, and we will focus on growing exponentially each year going forward with a focus not only on Tier I but Tier II and Tier III towns of the country. On this occasion, we also want to thank all our channel partners, customers, industry partners, and every single person who believes in the excellence of our brand.”

Mr. Denis John Healy III, Global Executive Chairman and CEO, added, “We are thrilled to be celebrating this milestone of five successful years in India. Throughout that time, India has been setting new benchmarks in the category with its expansion, footprints, distribution, and OEM approvals. India continues to be an important market for Turtle Wax globally, and it has become an integral part of our rich history. In these past five years, we have witnessed the evolving customer preferences and acceptance toward car care, which gives us the confidence to invest more in the people, infrastructure, innovative products, and world-class services to standardize the highly unorganized yet high-potential sector. We take pride in our India business and will continue to strengthen it in the coming years.”

The brand made its debut in India with three Car Care Studios® and four distributors. Since then, Turtle Wax has expanded its footprint across the country and currently has 60 Car Care Studios® and 64+ distributors spread across the country. In these past five years, Turtle Wax has reached more than people through retail, modern trade, and e-commerce channels to provide its entire global line-up of DIY (do-it-yourself) products, coupled with India-made products customized for Indian driving and weather conditions, plus DIFM (do-it-for-me) exclusive services at Car Care Studios®.

ABOUT TURTLE WAX

The Turtle Wax story started with the launch of the first-ever bottled car wax in 1944. More than 75 years later, the 'Most Innovative Brand in Car Care' is still capturing the attention of the auto appearance industry with a cross-category assortment of No. 1 selling products meant for every vehicle surface including paintwork, wheels, tires, upholstery, and plastic, among others. The brand is anchored by its love for driving and connecting auto enthusiasts around the globe.

As a family-run business, its strength lies in its people and its passion for the category with a customer-first approach. Given its distribution channel in more than 120 countries, the Turtle Wax® brand resonates around the globe. With its heart in its hometown of Chicago, where award-winning innovation is developed to this day, Turtle Wax has entered India with authorized channel partners present in 35 cities covering PAN India distribution.

AI-Powered Technology Innovation On India's Fashion Retail

* Substantial impact of two major players in this arena: YouTube and Meta 

In the rapidly evolving fashion industry, transformative technology has become key to engaging consumers and driving purchases. “With the help of AI-powered data, businesses can now precisely target shoppers in India's Tier 2 and 3 cities and thus maximize their market reach and impact, said Meghna Apparao, Director of Meta India at the India Fashion Forum 2024 in Bengaluru.

Highlighting on Meta platforms' role as a powerful touchpoint for fashion businesses to connect with consumers and drive spontaneous purchases, she said, “There are 3.8 billion monthly active users of Meta across the globe, including India as a significant market, and an astonishing 2 billion people re-share reels daily worldwide. With AI-powered insights, businesses can effectively tap into the sheer affluence of Tier 2 city shoppers and leverage vernacular content to resonate with diverse consumer demographics."

Delving into the intersection of artificial intelligence (AI) and fashion, emphasizing its transformative potential. Shubha Pai, Head of Sales and Solutions at YouTube India, highlighted, “YouTube’s rise as the quintessential fashion destination is underscored by a staggering achievement of 5 billion views for fashion and clothing content in December 2023 alone.”

She further added, “The platform’s diverse content formats, especially trending ones like 'Get Ready with Me' (GRWM) and 'Outfit of the Day' (OOTD) videos, have witnessed a remarkable 500% growth in watch time, thereby gaining great influence in shaping fashion trends and consumer behaviour."

Talking about the roadblocks in the fashion business, Shailesh Chaturvedi, MD & CEO, Arvind Fashions, said, "We need to re-look at the fundamentals of how we run our businesses and effectively utilize our capital."

Saloni Nangia, President & MD of Technopak Advisors, emphasized the evolving nature of consumer behavior and the importance of leveraging technology to meet changing demands. "Technology will be the largest value creator. AI will be an enabler and a disruptor, and sustainability will continue to hold importance."

The integration of generative AI, from chatbots to personalized content creation and data visualization is revolutionizing marketing strategies and reshaping the fashion retail landscape.

As the India Fashion Forum 2024 progresses, it becomes increasingly evident that AI-powered innovation is not just a trend but a fundamental driver of change, poised to usher in a new era of dynamic and consumer-centric fashion retail in India.

With the integration of generative AI, ranging from chatbots to personalized content creation and data visualization, the horizons of possibility expand exponentially. As an increasing number of companies embrace this technology, its seamless integration into every facet of marketing becomes a foreseeable reality.

Photo Caption:  Shailesh Chaturvedi, MD & CEO, Arvind Fashions moderated a discussion with panelists Rohit Ramesh, Managing Director & Partner; BCG; Gopal Asthana, CEO, Tata CliQ; Suparna Mitra, CEO, Titan Watches & Wearables; Vineet Gautam, CEO, Bestseller India; Vishak Kumar, CEO, Madura Fashion and Lifestyle - ABFRL.

Nestlé Health Science Launches Resource Activ, The ‘New-Edge’ Nutritional Solution For Active Millennials

In line with its purpose of unlocking the power of food to enhance quality of life for everyone, today and for generations to come, Nestlé India has launched Resource Activ, a multi-benefit, high protein supplement designed to cater to the wellness needs of active millennials. With its unique 'New Edge Formula', Resource Activ has high quality proteins for muscles, enriched calcium and vitamin-D for bone health and hyaluronate for skin health. It also contains fiber and immunonutrients. Resource Activ seeks to address the nutritional need gaps of the millennials through supplementation.

Despite the rapidly growing protein supplement market, there is a need for offerings tailored for individuals. Studies* suggest that after the age of 30, there is involuntary loss of muscle mass. It also leads to reduced bone density, tissue breakdown and signs of aging like loss of skin hydration and elasticity. Resource Activ is customized to fulfill the nutritional needs of this age group, aiding muscle health, energy, bone health and skin health. Consumers can enjoy Resource Activ with water or milk in a delicious vanilla biscuit flavour.

Talking about the launch, Mr. Suresh Narayanan, Chairman and Managing Director, Nestlé India said, “Nestlé India has been on a continuous journey to add value to the lives of its consumers through powerful brands and products. We are happy to launch Resource Activ, for active adults, including millennials. Resource Activ is an output of extensive research and is backed by the assurance of Nestlé’s quality and safety. We are confident that the brand would be able to supplement the nutritional needs of the active millennials and help them lead an active life.”

Resource Activ will be available on ecommerce and across 11 cities at national pharmacies and local chemists in Delhi NCR, Kolkata, Mumbai, Pune, Hyderabad, Bangalore, Chennai, Coimbatore, Kochi, Kozhikode, and Thiruvananthapuram.

Nestlé Health Science is a global leader in the space of nutritional science. It focuses on advancing the therapeutic role of nutrition to change the course of health management for consumers, patients, doctors, nurses and its partners in healthcare. The key products include RESOURCE High Protein, PEPTAMEN, OPTIFAST, RESOURCE Diabetic, RESOURCE Fiber Choice, THICKEN UP CLEAR, RESOURCE Renal and RESOURCE Dialysis. Nestlé Health Science also has a dedicated team of clinical experts who engage with healthcare professionals across India for awareness and education.

Going Beyond Blood Glucose Monitoring: How CGM's Panoramic Perspective Redefines Diabetes Management

* With 44% Rise In Diabetes Between 2019 And 2023, There Is Need To Help People Manage Chronic Condition Without Pain 

* CGM use in people with type 2 diabetes on insulin was associated with great reductions in acute diabetes events (51%) & hospitalizations (28%)[ii]

According to a recent ICMR-INDIAB study, the number of people living with diabetes has increased by 44% between 2019 and 2023, to over 101 million.[iii] While managing a chronic condition like diabetes can be challenging, people can take a holistic approach to keep their glucose levels in check by modifying their lifestyle, exercising regularly, eating well, and monitoring their glucose levels. 

Tracking one’s blood sugar levels informs personalized lifestyle and care decisions. This has been made simpler with technology advancements like continuous glucose monitoring (CGM). Access to powerful data can help people optimize their glucose control and lower their risk of other health complications.

Dr. Prashanth Subramanian, Head of Medical Affairs, Emerging Asia & India,  Diabetes Care, Abbott says, “CGM helps people monitor their glucose levels real-time without hassles, complementing traditional blood glucose monitoring devices which require routine fingerpricking. It shares valuable, actionable insights and is supported by a digital ecosystem that makes connecting with doctors and caregivers easy. The device also offers a unique metric, the time people spend in the target glucose range. Knowing this data can be life-changing and help people make smarter health decisions and gear for better glucose control.”

Illustrating the device’s real-world impact, it has been found that when people with type 2 diabetes on insulin used CGM, it was associated with substantial reductions in acute diabetes events (by 51%) and hospitalizations (by 28%).[iv] With metrics like time in range (TIR), people can adjust their diet, activity, and treatment to better manage their diabetes, which in turn can help them avoid or manage other comorbid conditions. Every 10% drop in TIR greatly raises one’s risk of eye and kidney disease complications, while those with a TIR greater than 80% spend less time in ICUs.[v],[vi]

Prof. Ramzi Ajjan, Professor of Metabolic Medicine/Consultant in Diabetes and Endocrinology, University of Leeds and Leeds Teaching Hospitals NHS Trust said, “People with diabetes navigate not only fluctuating glucose levels, but also the risk of developing other comorbidities like heart disease, obesity, and eye problems. Diabetes and obesity often coexist, and together are associated with heart disease risk.[vii],[viii] CGM can help people keep their glucose levels under control and avoid such risks. For example, people with type 2 diabetes who had experienced a recent heart attack and were using a CGM device report significantly lowered hypoglycemia levels as compared to those using traditional self-monitoring blood glucose.[ix] Avoiding hypoglycemia can help this high-risk population carry on with their everyday lives.”

CGM can help those who may require surgery for their heart disease by optimizing their glucose levels before surgery. This potentially can improve their outcomes post-surgery. Such devices meaningfully improve people’s HbA1c levels, slightly increase the time they spent in the optimal glucose range, and enhance their quality of life. These benefits are important, especially as people with diabetes are two to four times more likely to develop cardiovascular disease than others.[x] Additionally, nearly 30% of people with type 2 diabetes had three or more comorbidities at diagnosis.[xi]

While the diabetes journey can be difficult to navigate, technology is poised to be a game-changer for diabetes care, taking personalized healthcare a step forward so that people have less barriers to good health.

PhonePe Unveils Indus Appstore: A Game-Changer in India's Digital Journey

*       Indus Appstore is an Android app store, offering app discovery in 12 Indian languages.

*       No app listing fees for one year, until April 1st 2025, for developers

*       Developers will be free to use any 3rd-party payment gateway of their choice

PhonePe, today announced the consumer launch of its Indus Appstore, at Bharat Mandapam in New Delhi. Indus Appstore is PhonePe's attempt at creating a more competitive and localized mobile app store economy for India, which is already the largest mobile apps download market globally. The event was attended by a large number of startup founders and tech industry leaders, reflecting the significance of this launch for India's thriving digital ecosystem.

Indus Appstore allows Indian consumers to download over 2 lakh mobile apps and games, across 45 categories. Users will be able to discover these apps conveniently in 12 Indian languages, thereby catering to 95% of Indians’ language preferences. The app store also offers a brand new short-video based discovery feature, to make new app discovery more engaging for consumers.

In a global first move, Indus Appstore allows app and game developers to choose any 3rd-party payment gateway for in-app billing, and they will not be charged any commission if they use an external payment gateway. At a later date, Indus will also provide its own in-app billing and catalog solutions, but these will remain strictly optional for app developers. Further, to accelerate developer registrations, Indus is offering zero listing fees to developers for one year.

The timing of Indus Appstore's launch gains more relevance given the recent clamor from the Indian startup ecosystem for more free market competition in the mobile app store space.

Sameer Nigam, CEO and Founder PhonePe added, “Indus Appstore challenges the status quo, ushering in an era of more healthy competition in the mobile app marketplace, which in turn should help create a more democratic and vibrant Indian digital ecosystem. Indus Appstore embodies our commitment to building a truly inclusive digital ecosystem where every Indian user feels at home.”

Indus Appstore is available for download at https://www.indusappstore.com.

About Indus Appstore:

Indus Appstore is a native Android-based mobile app store, designed to fulfill the localized and cultural needs of Indian consumers. With an extensive array of categories it seeks to provide users a localized, contextual and a personalized experience. Indus Appstore is available in English and 12 Indian languages, which allows users to explore the app store in their preferred language.

For developers, Indus Appstore provides a fair and level playing field to list, distribute & promote their products in the Indian app ecosystem. It provides a self-publishing platform, localization services, multiple tools to monitor and grow their apps along with a dedicated 24×7 customer support.

For more details: media@indusappstore.com

About PhonePe:

PhonePe Group is India’s leading fintech company. Its flagship product, the PhonePe digital payments app, was launched in Aug 2016. In just 7 years, the company has scaled rapidly to become India’s leading consumer payments app with 510+ million registered users and a digital payments acceptance network of 38 million merchants. PhonePe also processes over 220 million daily transactions with an annualized Total Payment Value (TPV) of USD 1.4 Trillion.

On the back of its leadership in digital payments, PhonePe Group has expanded into financial services (Insurance, Lending, Wealth) as well as new consumer tech businesses (Pincode - hyperlocal e-commerce and Indus Appstore - India's first localized Appstore). PhonePe Group is an India headquartered technology company with a portfolio of businesses aligned with the company's vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.

For more details: media@phonepe.com

Matrimony.com Launches “MeraLuv”, An Exclusive Dating App For Indian-Americans

~ Specially designed app aims to promote meaningful relationships ~

Matrimony.com, pioneers in online matchmaking and India’s most trusted and largest matchmaking service provider has expanded its offerings with the launch of “MeraLuv” - an exclusive dating app for Indo-Americans.

Sharing details about the venture, Mr Murugavel Janakiraman, Founder and CEO – Matrimony.com said, “As the population of Indians in the US continues to rise, we discovered that there is a need for them to connect with individuals who resonate with their values, lifestyle and aspirations. ‘MeraLuv’ is poised to help them find a match within the diaspora. Many individuals we spoke to are apprehensive about subscribing to matrimonial platforms due to the perceived pressure to marry hastily. This app addresses this concern by enabling the users with the opportunity to cultivate a better understanding of their potential partners before taking the relation forward.”

Developed after extensive research and consultation with members of the community, MeraLuv addresses a significant gap in the market for individuals seeking a deeper relationship in their romantic pursuits: a longing for a connection that echoes with their cultural background while embracing their modern American identity. With Valentine’s Day serving as the perfect backdrop for its launch in the USA, MeraLuv aims to facilitate genuine connections for those seeking to cultivate relationships before marriage. “MeraLuv emerges as the ideal solution for individuals seeking meaningful relationships. Our platform effectively caters to the burgeoning demand for serious connections within this growing demographic,” added Mr. Murugavel.

MeraLuv app has robust safety measures and prioritizes user privacy with its advanced features.  Each profile undergoes rigorous verification, ensuring a secure environment for all users. The app offers convenient voice note and chat functionalities, enabling seamless communication.  While the audio prompts can show a fun side of individuals’ personality, text prompts help to bring out the cultural aspects of their personality letting the algorithm match similarities and suggest options to choose from. Additionally, users can create their own bios thereby making it unique.

Indian Americans can register now and enjoy 3 months of subscription free. The complete functionality of the app will be available from 7th March 2024 onwards.