Orkla India Partners With CleanMax To Make MTR Karnataka Factories 100% Renewable

Orkla India, the parent company of MTR and Eastern, is proud to announce a strategic partnership with CleanMax, a Brookfield backed company, to solidify its sustainability goals and accelerate its journey towards net-zero emissions. The partnership involves a 25-year power purchase agreement (PPA) for the generation and supply of renewable energy from a 6.6 MWp Solar Captive Power Project located in Jagaluru, Karnataka. With this partnership, Orkla India factories based out of Karnataka will run on 100% renewable energy.

The project is structured under a Special Purpose Vehicle (SPV), with Orkla India holding a 26% equity stake and CleanMax retaining the remaining 74%. Under this arrangement, CleanMax will manage the energy generation, operation, and maintenance of the solar plant, ensuring optimal performance throughout the 25-year term.

This 6.6MW plant will provide 10 million KWh units per annum which is equivalent to the reduction of 7500 tons of CO2 emission annually which corresponds to planting 1.3 lakh trees annually.

Aligning with the company's global sustainability objectives, this initiative will significantly reduce Orkla India's carbon footprint, with all its manufacturing units in Karnataka achieving net-zero upon complete implementation.

Niklas Stoltz, Director, Sustainability said, “Orkla India’s partnership with CleanMax is about powering change. We want to set a new standard for sustainable manufacturing in India's FMCG sector. With this partnership, Orkla India factories based out of Karnataka will run on 100% renewable electricity and at a pan India level 70% of our electricity consumption will be from renewable sources."

Kuldeep Jain, Founder and Managing Director, CleanMax said, "Our journey with Orkla since 2018 has been exciting, and I’m glad to expand this partnership further. We’re focused on enabling Orkla's shift to clean energy with solutions that align with their broader sustainability and net-zero goals. Together, we’re making a significant impact on reducing carbon emissions and advancing a more sustainable future."

Orkla India remains committed to creating a resilient and healthier future as it believes that sustainable production and consumption is the path to a healthier tomorrow. 

Mobil™ Hosts India’s First Night Street Race in Chennai With ‘Indian Racing Festival 2024’

Mobil™, a leader in automotive lubricants, associated with Racing Promotions Private Limited (RPPL) for India’s first-ever night street race in Chennai during the ‘Indian Racing Festival 2024’ at the Chennai Formula Racing Circuit on August 31 and September 1. This landmark event marked Mobil’s third year of association with the Indian Racing Festival, showcasing a spectacular combination of speed, skill, technology and performance.

As the official lubricant partner for both the Indian Racing League and the Formula 4 Championship, Mobil™ underscored its commitment to advancing Indian motorsports, aligning with its focus on ‘Performance by Mobil 1’. The festival, organized by RPPL, has five exciting rounds across the country all the way through November 2024. This event also celebrated Mobil 1’s 50-year presence in India.

Commenting on the occasion, Mr. Vipin Rana, CEO - ExxonMobil Lubricants Pvt. Ltd. said, “We are honoured to be a part of the India Racing Week, an event that not only demonstrates our dedication to advancing global motorsports but also accelerates the future of racing in India. In the last three years, we have empowered racers and enthusiasts with the confidence provided by Mobil™ products, enabling them to unlock their potential.

Mr. Akhilesh Reddy, Chairman of RPPL, added, We are incredibly proud of this association with Mobil™ and thrilled to bring India’s first night street race to life. The excitement and energy of night racing have added a new dimension to the festival, showcasing the talent and passion of our racers. Congratulations to all the teams of F4 and IRL for their remarkable performance, and we look forward to continue the same momentum in the future.

The festival attracted significant attention, with celebrity team owners such as Bollywood stars John Abraham and Arjun Kapoor, cricket legend Saurav Ganguly, and actor Naga Chaitanya contributing to its high profile

The event concluded with a grand award ceremony, celebrating the exceptional performances of the winning teams and individuals, and further cementing Mobil 1’s role in driving the future of motorsport in India.

About ExxonMobil in India

ExxonMobil has been powering India’s growth for three decades.

The company brought the first supplies of liquefied natural gas (LNG) to India in the early 2000s and is now a major LNG supplier to the country, helping to advance its transition to a gas-based economy.

ExxonMobil’s cutting-edge product solutions such as Mobil lubricants are driving productivity and energy efficiency in India’s automotive and industrial sectors, helping individual consumers and businesses achieve more with less. The company’s chemical products are enabling Indian manufacturers to make high-quality products and deliver sustainability benefits across sectors including food processing, consumer durables, agriculture, water treatment, pharmaceuticals, and construction.

ExxonMobil’s business and technology centers in Bengaluru provide critical support to the company’s global operations. The technology centers help develop strategies to reduce global emissions and collaborate with homegrown manufacturers to enhance the global competitiveness of made-in-India products.

To learn more about ExxonMobil lubricants in India, visit https://www.mobil.co.in/en-in.

MAHE To Host 5th National Conference On Youth In Social Change

Manipal Academy of Higher Education (MAHE), an Institute of Eminence, is set to host the 5th National Conference on Youth in Social Change on September 16-17, 2024, at its campus in Manipal, Karnataka. Since its inception in 2017, this conference has aimed to inspire students from Higher Education Institutions across India to contribute to their communities, while also celebrating the spirit of "Daan Utsav – the joy of giving week."

This year’s conference theme, “Bridging the Gap Between Academic & Corporate Volunteering to Synergize Social Change,” will focus on how students’ volunteering efforts during their academic years can transition into impactful corporate volunteering. The event will feature prominent speakers from leading corporates, and students from across India will present posters on unique community-giving ideas, enriching the conference discussions.

Students interested in social change and volunteering are encouraged to register for the conference through the official website (https://conference.manipal.edu/youthinsocialchange/).

This event promises to provide a platform for insightful exchanges on how academic experiences can foster long-term professional and social growth.

About Manipal Academy of Higher Education

Manipal Academy of Higher Education (MAHE) is an Institution of Eminence Deemed-to-be University. MAHE offers over 400 specializations across the Health Sciences (HS), Management, Law, Humanities & Social Sciences (MLHS), and Technology & Science (T&S) streams; through its constituent units at campuses in Manipal, Mangalore, Bangalore, Jamshedpur, and Dubai. With a remarkable track record in academics, state-of-the-art infrastructure, and significant contributions to research, MAHE has earned recognition and acclaim both nationally and internationally. In October 2020, the Ministry of Education, Government of India, awarded MAHE the prestigious Institution of Eminence status. Currently ranked 4th in the National Institutional Ranking Framework (NIRF), MAHE is the preferred choice for students seeking a transformative learning experience and an enriching campus life, as well as for national & multi-national corporates looking for top talent.

AU Small Finance Bank And Kotak Life Partner To Expand Access Of Life Insurance And Financial Security Solutions

AU Small Finance Bank (AU SFB), India’s largest Small Finance Bank and Kotak Mahindra Life Insurance Company Ltd (“Kotak Life”), one of India’s private life insurers, announced their strategic partnership to provide AU SFB’s customers with a comprehensive suite of life insurance and financial security solutions. This collaboration is based on a revised business proposition, in continuation to Kotak Life’s relationship with erstwhile Fincare Small Finance Bank (now merged with AU SFB).

Effective immediately, AU SFB’s new and existing customers, including those from former Fincare SFB branches, can now access Kotak Life’s comprehensive range of life insurance products including term, retirement, savings and select investment plans.

This partnership is expected to significantly enhance AU SFB's offerings in southern India by leveraging Kotak Life's diversified portfolio. Additionally, Kotak Life will collaborate closely with AU SFB to ensure seamless service options, facilitating a smooth transition and maintaining business continuity for customers.

As AU SFB pursues its universal banking license with the Reserve Bank of India (RBI), it is now poised to serve its vast customer base of over one crore with a diverse array of products from leading life insurance companies. This strategic approach enables AU SFB to assess and address the unique needs and financial requirements of each customer, delivering personalised solutions that cater to their individual circumstances.

Speaking on the partnership, Mr. Uttam Tibrewal, Executive Director and Deputy CEO, AU Small Finance Bank said, "At AU Small Finance Bank, our customers are at the heart of everything we do, and we are committed to offering them a wide array of choices and personalised solutions. As we expand our offering in the bancassurance segment, partnering with Kotak Life, a trusted leader in life insurance, strengthens our product suite and enhances the financial planning options available to our customers. By combining our expansive distribution network with Kotak Life’s diverse portfolio, we will provide a broader selection of tailored life insurance solutions. We are excited about the possibilities this partnership brings and look forward to collectively shaping a more secure and prosperous future for our customers.”

Mr. Mahesh Balasubramanian, Managing Director, Kotak Mahindra Life Insurance Company Limited, said, “At Kotak Life, we firmly believe that life insurance is a necessity for every Indian. We are committed to the vision of 'Insurance for All by 2047,' as outlined by the IRDAI. Through our collaboration with AU SFB, we aim to reach out to the untapped segments of the population. By

leveraging AU SFB’s customer reach and our expertise in life insurance, we help ensure a secure future and protect the financial dreams of AU SFB customers.”

About AU Small Finance Bank

AU Small Finance Bank Limited (AU SFB) is a scheduled commercial bank and has established itself as the largest SFB in India since starting its banking journey in April 2017. Established in 1996 by Mr. Sanjay Agarwal, a first-generation entrepreneur, AU SFB boasts a 29 year-legacy with deep understanding of the rural and semi-urban markets and customer segments. The Bank operates a sustainable business model that facilitates credit to the unserved and underserved retail and MSME customer segments while providing complete banking solutions to its deposit and branch banking customers. As a tech-led Bank, AU has a strong digital presence with innovative products and services like 24X7 video banking, credit cards, personal loans, UPI QRs, payments, merchant lending, WhatsApp Banking, Chatbots etc. and its digital bank application AU0101 remains among the higher rated banking apps in India.

The Bank operates from 2,414 banking touchpoints across 21 States & 4 Union Territories serving 1.08 Cr customers with an employee base of 46,000+ employees. As on 30th June’24, Bank has a Shareholders Funds of Rs 15,516 Cr, Deposit base of Rs 97,290 Cr, Total Loan Portfolio of Rs 99,792 Cr and a Balance sheet size of ~Rs 1.26 Lakh Crore. AU SFB enjoys the trust of marquee investors and is listed at both NSE and BSE. It has consistently maintained high external credit Rating and is presently rated ‘AA/Stable’ by CRISIL Ratings, ICRA Ltd., CARE Ratings and India Ratings, while the Bank’s FD is rated ‘AA+/Stable’ from CRISIL Ratings.

Website: www.aubank.in | Twitter: @aubankindia | Facebook: AU Small Finance Bank | LinkedIn: AU Bank

About Kotak Mahindra Life Insurance Company Ltd     

Kotak Mahindra Life Insurance Company Limited (Kotak Life) is a 100% owned subsidiary of Kotak Mahindra Bank Limited (Kotak). Kotak Life provides insurance products with high customer empathy. Its product suite leverages the combined prowess of protection and long term savings. Kotak Life is one of the fastest growing insurance companies in India with 303 branches across 146 cities and has covered more than 5 crore active lives as on 31st August 2024.

For more details, visit www.kotaklife.com

UST Launches 'UST Retail GenAI Platform' - Transforming Retail Operations With Generative AI-Driven Solutions

·         Designed for the retail sector, the UST Retail GenAI Platform empowers businesses with end-to-end operational enhancements, driving efficiency and growth.

·         Purpose-built for retailers, the UST Retail GenAI Platform delivers comprehensive tools to optimize every facet of retail operations, from logistics to customer experience.

UST, a leading digital transformation solutions company, has unveiled its 'UST Retail GenAI platform' at the London Innovation Lab. Steve Rempel, SVP & International CIO at Walgreens Boots Alliance, inaugurated this pioneering platform to transform retail operations through the power of Generative AI. Steve shared valuable insights on critical success factors to enable GenAI adoption, including the need to appreciate the trust cycle while planning various investments. Prior to the inauguration, UST’s CEO, Krishna Sudheendra, shared the focus with which UST is championing the adoption of Generative AI, including the in-house program to train 25,000 employees on GenAI.

AI has the potential to unlock between $400B and $660B in economic value for the retail industry, according to research. However, few companies have fully realized the potential of new technologies. Developed in-house by UST’s technology and industry sector experts, the platform combines established business models with key GenAI capabilities such as search, summarization, automation, and creation to revolutionize retail practices.

This state-of-the-art platform enables larger business teams to have an out-of-box experience for scenarios in the retail enterprise that would benefit from GenAI-led investments. The platform maps the alignment between GenAI and business capabilities, allowing for more effective decision-making. The UST Retail GenAI platform enables retailers to safely and swiftly pilot GenAI-driven solutions, test various scenarios and outcomes, accelerate innovation, and optimize operations. Retailers can conceptualize and plan their AI strategies with the help of scenario cards, which integrate the 'Enterprise knowhow' to address specific challenges.

"At UST, we've partnered with six of the world's top ten retailers, transforming their businesses. While AI is already transforming retail operations, we still need to unlock its full potential. The UST Retail GenAI Platform offers a structured approach for exploring generative AI scenarios, marking a significant milestone in our mission to revolutionize retail operations through the power of generative AI. This is aligned to our focus on building platforms that can help scale the adoption of GenAI-led ways of working,” said Krishna Sudheendra, Chief Executive Officer, UST.

The benefits of investing in digital transformation and specifically AI were echoed in a recent survey commissioned by UST, where respondents cited building resilience to cope with future disruption the highest, increasing profitability, and improving sustainability as key outcomes of technological advancements within their business. UST AlphaAI consolidates the company’s AI offerings to enhance business agility, streamline operations, and accelerate digital transformation journeys.

About UST

Since 1999, UST has worked side by side with the world's best companies to make a powerful impact through transformation. Powered by technology, inspired by people, and led by our purpose, we partner with our clients from design to operation. Our digital solutions, proprietary platforms, engineering expertise, and innovation ecosystem turn core challenges into impactful, disruptive solutions. With deep industry knowledge and a future-ready mindset, we infuse innovation and agility into our clients' organizations—delivering measurable value and positive lasting change for them, their customers, and communities around the world. Together, with 30,000+ employees in 30+ countries, we build for boundless impact—touching billions of lives in the process. Visit us at www.UST.com.

Apple’s Success Shows Manufacturing Can Be The Solution To India’s Good Jobs Challenge” TCF Founder-CEO Ashish Dhawan

Ashish Dhawan, Founder-CEO of The Convergence Foundation (TCF), stated India’s success in boosting electronics manufacturing should convince all stakeholders of the country’s capabilities. “Many people said we can’t do manufacturing in India. We can never be as productive. Well, here’s someone who’s shown you! The fact that the 29th factory to serve Apple is coming up in India, all within 2-3 years, is incredible. We now have this faith that in electronics, we can make it happen.” Pointing out that India hasn’t claimed its rightful market share in labour-intensive exports, Dhawan added that the country’s demographic advantage, and labour costs that are lower than China’s, tell us that “we have every right to succeed, if we can get rid of our regulatory cholesterol, improve ease of doing business (EODB), create the right incentives, take care of the infrastructure needs, and really prioritise this.” Dhawan made the observations during a conversation with Rahul Ahluwalia, Founder-Director at the Foundation for Economic Development (FED.

Dhawan added that growth in manufacturing must be tied to the larger goal of generating employment, a very salient issue today. Going on to explain why automobile manufacturing may not create many jobs because OEMs have moved up the value-chain over the years to more capital-intensive production, the TCF CEO explained that we must prioritise sectors such as electronics assembly and apparel that are more labour-intensive and can create jobs. He also credited the government for being serious about improving competitiveness. “If the government was saying, we don't care about private business coming in, it would not have happened. All credit to whether it's the Centre or state governments that are saying: I really want to improve my labour, land, all the factors of production. Business is telling me that I'm not competitive and I need to be competitive. So they want good ideas. And they want you to work with them.”

On setting targets for manufacturing, Dhawan stressed the need to treat the East Asian ‘Tigers’ (South Korea, Taiwan, Hong Kong, Singapore and now Vietnam) as our benchmarks for success. “A state like Uttar Pradesh, which has two and a half times the population of Vietnam, does $20 Bn in exports, whereas Vietnam does $400 Bn in exports. UP is landlocked. But even if you take Odisha, it has no labour-intensive exports. All its exports are related to minerals and metals. And it's a state right on the coast, has lots of cheap labour, and yet has not been able to make a push. Even Tamil Nadu, which is very successful in an Indian context, is one-tenth of Vietnam's exports, although it’s 70% of the size of Vietnam from a population standpoint. So, our benchmarks must be the East Asian Tigers, and we have to go after the world market.”

Besides labour-intensive manufacturing, Dhawan argued that India must aim to become the skills capital of the world, the third lever of future economic growth according to him, besides manufacturing and services. “We already have the largest remittances of any country in the world. We have 15 plus million people who are abroad and sending checks every month back home; $120 Bn is now coming back. We think that can go to $300 Bn. And we can have another 15 million Indians going abroad. If you look at the OECD, the demographics are such that they will need people. Though there is a backlash against immigration, I think what they need is not full-time immigrants, but people who come on a 3–5-year contract work visa. That's what the Middle East does. The Middle East doesn't want people forever. Japan and Korea are doing the same. Germany is now pushing in that direction. We think the EU will start to do that. America will come last because it has its illegal immigration problem. But generally, in the OECD, 50 Mn jobs will open up in the next 20 years at a minimum. India needs to fill those.” Dhawan added that government-to-government or G2G arrangements, where India assures the return of its migrant workers, and accreditation of skill providers, are needed to do this on a much larger scale “because the western world needs everyone from drivers to cooks, to nannies, to care workers, to nurses, to doctors, you name it. We've mapped out 20-30 professions and are doing a very detailed study to look at the frictions in each of these areas.”

About Ashish Dhawan

Ashish Dhawan is the Founder-CEO of The Convergence Foundation (TCF), an organisation that incubates other non-profits focussed on addressing India’s developmental challenges. He is also the Chairperson of Ashoka University, a leading liberal arts university in India, and Central Square Foundation (CSF), a non-profit foundation working towards improving the quality of education for all children in India. TCF’s portfolio also includes non-profits that work on solving the air pollution crisis, advancing economic empowerment of women, improving state governance in India, accelerating economic growth, empowering people with learning disabilities, unlocking philanthropic capital for social causes, building a better understanding between India and the Global South, and improving the effectiveness of non-profits in the social sector.

Before his second career as a social-impact driven philanthropist, Ashish was among India’s most successful private equity investors. He founded and ran ChrysCapital, the country’s leading private equity firm. Ashish graduated from Yale University and received his MBA from Harvard Business School. He is also on the India Advisory Board of Harvard and a member of Yale’s Development Council.

About FED

FED is a non-profit that aims to facilitate a sustained and broad-based economic growth of over 10% to improve the lives of all Indians. With an approach to identifying high-impact opportunities for economic growth in India, FED works with central and state governments across the ‘value-chain’ of reform to help realise those opportunities.

Cleartrip Records 150 Percent Growth In The Bus Category

* Introduces ‘Bus Pass’, A New Value-Proposition For Frequent Bus Travellers

Cleartrip, a Flipkart company, registered a phenomenal 150% growth in the bus category, since its launch in April 2023. This impressive growth highlights the strong demand for bus travel, especially from tier 2 cities. Riding on the opportunity in this category, Cleartrip has launched ‘Bus Pass’, an industry-first offering to make bus travel more affordable for its customers. Bus Pass, is a cost-effective solution, which aims to provide frequent bus travellers with significant savings and enhanced value-based offerings.  

Consumer data on Cleartrip revealed that:

The bus category sees the highest number of frequent travellers with 32% of users repeating their bookings in the last 3 months

15% of users book at least three times within three months

Bus users are also highly value-conscious, with 75% of travellers using discount coupons while booking.

Indore-Bhopal, Bengaluru-Hyderabad, Indore-Pune, Chennai-Madurai and Coimbatore-Bengaluru are top routes with high repeat bookings

Customers can purchase the Bus Pass for a fee of Rs 150 while making a bus booking. Benefits of the Bus Pass:

Customers will receive an immediate discount of Rs 100 (in addition to availing other coupons) on their current booking for a minimum order value of Rs 300

With one Bus Pass, customers can make a maximum of 5 bookings at this discounted rate

Customers can enjoy a cost savings of Rs 500 with one Bus Pass

Each Bus Pass is valid for 90 days from the date of purchase

Anuj Rathi, Chief Business & Growth Officer, Cleartrip, stated, “Over the last year, Cleartrip’s bus category has experienced a remarkable 150% growth, mirroring the booming consumer demand in this category. We are committed to building products powered by in-depth market research, aligning with our customers’ ever-evolving needs. The Cleartrip ‘Bus Pass’ will offer exceptional value and convenience to our user base. We aim to make travel affordable while strengthening our position as a trusted travel partner."

Cleartrip remains steadfast in its commitment to diversify its offerings and recently introduced Bus service on Flipkart as well.

About Cleartrip

Launched in July 2006, Cleartrip Pvt Ltd., a Flipkart company, has emerged as India’s fastest-growing online travel technology company. In April 2021, Flipkart acquired a majority stake in Cleartrip. Cleartrip recently emerged as the no. 2 OTA player as per a study by VIDEC. With an aggressive plan to emerge as a leading innovator in the industry, Cleartrip is on its way to building a differentiated value proposition for its customers looking for end-to-end travel solutions. With industry-first offerings including ClearChoice Plus, ClearChoice Max and Cancel for No Reason’, Cleartrip has a clear vision to provide innovative solutions in the OTA segment. Combining intuitive products with a customer-centric approach and a wide selection of flights, hotels, and buses, Cleartrip brings a unique selling point to the market, offering its customers convenience, choice, competitive prices, and premium content.