Archive: August 3, 2022

CEAT launches EnergyRide EV for two-wheeler EVs

Pune, August 3 2022: CEAT Ltd., India’s leading tyre manufacturer launched EnergyRide EV, India’s first EV range of tyres specially designed for electric two-wheelers.

The characteristics and performance of the internal combustion engine-powered scooters and electric scooters are vastly different, hence there is a need for a different set of tyres for EV scooters. EnergyRide EV is designed to maximize the performance of the EV scooters and tyres. EV scooters have higher torque as compared to their internal combustion counterparts. The higher torque is instantly available to the rider as he/she starts the scooter. Traditional two-wheeler tyres are not equipped to manage this torque and weight. CEAT’s EnergyRide EV range of tyres come with a unique ‘Circuit Design’, which provide better grip in high torque and instant acceleration through superior water channelling. It also distributes the force exerted on the tyres evenly around the tyre, thus reducing wear and tear of the tyres and eventually helping them to last longer. EnergyRide EV tyres are incorporated with a special rolling resistance compound which reduces the energy loss during motion. The lower rolling resistance provided by the EneryRide EV tyres aids an electric scooter to save energy and provides the desired extended range to the scooter.

Sharing more light on the launch Mr. Arnab Banerjee, COO, CEAT said, “At CEAT we go out of our way to understand the consumer; and EnergyRide EV tyres address two main concerns of electric scooter owners, i.e., safety and range anxiety. We have designed EnergyRide EV to manage the instant acceleration of the electric scooters while ensuring tyre life is not compromised. Our low rolling resistance compound also addresses range anxiety concerns that many EV users face today.”

CEAT is a leader in EV tyre space with partnerships across major OEMs and has forayed into the 4 wheeler passenger car tyres space as well.

The Embassy of Sweden Felicitates Winners Of 7-Day Sustainability Challenge

Gurugram, August 03rd, 2022: On Monday, August 1, 2022, the Embassy of Sweden announced the winners of its 7 Day Challenge for Sustainable living, which was organised in collaboration with the Swedish Institute and the Heritage International Xperiential School. Tanishi Dutt, Shivansh Gupta and Aarav Bhandari are the winners of the challenge that celebrates the most innovative ideas, promoting ‘Eat Smart, Move Smart, and Live Smart’. Students were evaluated based on the impact and creativity they showcased. The winners were awarded Sustainable Solar powered headphones from Urbanista, a Swedish brand which promotes sustainability through a range of solar-powered consumer electronics.

The challenge was launched last month on June 1, 2022, at Heritage International Xperiential School ahead of the Stockholm+50, a UN environmental conference held in Stockholm from June 2-3, 2022. It was launched as a part of the intergenerational climate dialogue, focused on raising youth’s involvement and voices on sustainability and climate change. This year’s high-level global meet highlighted the pressing need to work together toward the planet’s health. The year’s theme, “A healthy planet for the prosperity of all – our responsibility, our opportunity”, brought together individuals, communities, organizations, and governments from across the globe, to boost small or large initiatives promoting the well-being of current and future generations.

Tanishi Dutt, a 14-year-old, who has been promoting shopping from CSNF- Community Supported Natural Farming, was awarded for her idea of a weather prediction app in Hindi for farmers. The app assisted farmers with all the information concerning farming, different crops and chemical-free means of crop production. She also started an initiative to collect E-waste and expired medicine on a weekly basis to prevent them from harming any beings. Besides, along with the support of her society, she created a mini compost using an old dustbin, an old skewer, some dried leaves and wet waste. She promoted these eco-friendly activities and invited more to join her carbon neutrality initiative, including sustainable shopping habits and the practice to “Switch off your engine”.

Aarav Bhandari, the 13-year-old, was awarded for leveraging the power of social media to create awareness for sustainable ways of living. He created an Instagram account called ‘Sustainable life choices by Aarav Bhandari’, where he posted all the activities he did during the week. He initiated a plant drive in his society and used RO’s wastewater to water the plants. He also promoted the use of cloth wrap instead of aluminium foils, encouraged people to use stairs instead of elevators to reduce energy consumption, propagated use of bicycle to visit nearby places, and urged people to avoid plastic bags and switch off lights whenever not in use.

Shivansh Gupta, 14 years old, was selected as a winner for promoting consumption of seasonal fruits, reduction in use of drink bottled water, and preventing food wastage. Moreover, he raised awareness for carpooling, conserving electricity by switching it off when not in use, and recycling plastic waste and old clothes. He also promoted the idea of growing your own food by planting fruit-bearing plants/trees, using cloth bags and drying clothes under the sun instead of in a dryer.

The event on 1 August ended with the students visiting the “Sustainability by Sweden – Showroom India” at the Business Sweden office in New Delhi, which is a unique showcase of Swedish green technologies introduced in India through the bilateral flagship program India Sweden Innovations Accelerator Program. The students got a chance to interact with Business Sweden’s dedicated sustainability and climate change team, to get a glimpse of how Sweden deploys its proven triple helix model to address sustainability related issues and develop glocalized solutions for sustainable living.

Commenting on the urgent need for collective action towards sustainable living, Gautam Bhattacharyya, Chargé d’affaires, Embassy of Sweden, “I am glad to see that these students come up with such sensitive and brilliant ideas to beat climate change. They have shown us ways how with small changes in our daily habits, we can bring about a big change. Sweden, a nation which has been working toward integrating sustainability in every aspect of life, is encouraging more such initiatives to be launched to generate collective awareness and action towards the cause. I believe these small steps will make way for big changes and lead the young generation towards a better and brighter future.”

Spokey Wheeler, Director, Heritage International Xperiential School, said, “I am proud of our students’ initiatives and out-of-box thinking, which is reflective of our objective to instill in our students a strong sense of awareness and ability to serve the community. I am extremely thrilled and impressed with how they have contributed with innovative and thoughtful ideas. It is only their endeavour and spirit which assure us that the earth’s future will be more sustainable than the state it is in today.”

The week-long challenge encouraged students to design a #MyClimateCommitment plan, wherein they explored ways of sustainable eating, moving and living. The prime motive of the challenge was to encourage both innovation and awareness about sustainable living among youth, as not only a 7-day choice but a life choice.

Premium Tastes & Premium Aesthetics- Vedic Nuts

The festive season is around the corner and is the perfect time to gift your loved ones a beautiful dry fruits hamper from Vedic Nuts. These nuts are high in nutrition, containing vitamins and minerals the body needs.They are the best sources of plant-based protein and they provide a wide range of other nutrition. Vedic Nuts focuses on these nutritive values while maintaining a rich gourmet flavour and feel to the same.

Harshita Gupta and Saakshi Gupta established the brand in 2019 with a sole mission of providing the most premium gourmet products for everyone. Being travel enthusiasts, they explored different cultures & their cuisine which gave them the idea of starting the brand- Vedic Nuts.

The brand signifies authenticity and purity. They provide preservative free & color free premium dry fruits to their clients. Vedic Nuts aim is to keep transparency and loyalty with their beloved customers by creating valuable experiences through their scrumptious products & gifting range.

Vedic Nuts source their products from various corners of their world; Almonds from California to Dates from Oman to Cranberry from USA and Canada. This is a one stop solution for all your healthy munching. While thinking of maintaining the quality and uniformity, the brand maintains small batch production. They not only focus on the product quality but also are very particular about the entire look and feel of the packaging. Vedic Nuts maintains a modern & luxurious presentation across their gifting range and premium products.

The brand is a perfect amalgamation of luxury yet tasty- which makes it different from the other in the market. From keeping a jar of Rose Petal Almonds or Masala Cranberries at your work desk to carrying a jar of Mint Dates for your on the go work meetings- Vedic Nuts is here to sort all our hunger pangs.

The premium range of Silver and Gold coated (99% & 24 karat edible silver & gold respectively) nuts are the top notch product of the brand.

According to Saakshi Gupta, the co-founder “Back in 2019, we were noticing that the Indian Wedding industry was lacking to provide premium quality, non-preservatives gourmet products and that’s when we thought of starting Vedic Nuts. Our vision is very straight, we aim to scale Vedic Nuts across India and the globe eventually. All the products are thoroughly researched and we strive to provide our clients with exquisite flavours. These flavours are natural, preservative free & color-free. We focus on keeping transparency and purity with our products.”

The brand is all set to launch some of their newest flavours in the market. Starting from hazelnuts to dates to chocolate and maybe some exciting butter which you will find everything under one roof. If you’re still looking for a healthy yet tasty brand this festive season then Vedic Nuts is the perfect choice for you.

MakeUp Eraser Introduces the first ever machine washable Makeup Sponge in India…

MakeUp Eraser, world’s #1 sustainable makeup remover has recently launched their first ever machine washable makeup sponge – a reusable sponge formulated using ‘WashTech’ technology. The Original MakeUp Eraser is the first ever reusable makeup remover in the world founded by Elexsis McCarthy in 2013, after discovering a way to remove ALL (including waterproof) makeup with no chemicals, no oils, JUST WATER.

For that flawless and effortless smooth finish of makeup, it’s important that the sponge is clean and hygienic at all times. But keeping the sponge clean at all times can be a tedious task for some in the long run. Hence, to address this problem, MakeUp Eraser has come up with washable sponges whose non-toxic, cruelty free, sustainability gives a much cleaner look. Its non – absorbent technique helps in absorbing less makeup which in turn gives a flawless application.

“We are extremely thrilled to be associated with MakeUp Eraser in India. With the onset of new beauty trends, variations in makeup looks are all set to be the game changers for the overall look. Daily cleaning of the makeup sponge can be a serious task. The launch of their washable sponge has remarkably addressed this need. We are quite confident the product will perform extremely well in India.”- says Sargam Dhawan Bhayana, (Director at Tressmart Marketing Private Limited & Glow by Tressmart).

Commenting on the launch, Elexsis McCarthy (founder of MakeUp Eraser) said, “With my passion for sustainability and entrepreneurship, I knew I needed to share my products with the world. The Original MakeUp Eraser brand aims to remain the #1 leaders while maintaining our key pillars of quality, sustainability, & innovation.”

The sponge is available for purchase exclusively only on www.glowbytressmart.com. Tressmart is a leading beauty e-commerce portal, powered by sustainability and bringing the best of the best to the Indian market. Tressmart has brought numerous incredible and innovative international brands to the country and made them easily accessible to the Indian audience while providing the most efficient service. Glow is an extension of Tressmart that brings to its patrons the best of luxury beauty at the comfort of their homes.

With so many benefits, Makeup Eraser is also a 2-in-1 tool that not only easily removes makeup but also exfoliates your skin. Free of alcohol, oils, astringents, parabens, fragrances and sulfates, this product is definitely every girl’s MUST-HAVE! With over 5 million units sold, The Original MakeUp Eraser has become the #1 sustainable makeup remover in the world! Erase ALL makeup with JUST water! Including waterproof mascara, eyeliner, foundation, lipstick, & more! Every MakeUp Eraser is reusable, machine washable and will last 3-5 years.

Bank of India reports net profit of Rs. 561 crores in Q1FY23

Mumbai, 02 August 2022: Bank of India announced its results for Q1FY23 reporting net profit at Rs. 561 crores, operating profit at Rs. 2,183 crores.

On Asset quality front, GNPA ratio improved by 421 bps YoY from 13.51% in Jun’21 to 9.30% in Jun’22. The Net NPA ratio improved by 114 bps from 3.35% in Jun’21 to 2.21% in Jun’22. Provision Coverage Ratio (PCR) stood at 87.96% as against 87.76% in Mar’22 and 86.17% in Jun’21.

Net Interest Income increased by 29.51% YoY and NIM (Global) improved by 39 bps YoY.

In individual front, Retail Credit grew by 22.45% YoY; Agriculture Credit grew by 16.40% YoY and MSME Credit grew by 7.96% YoY.

Global Business grew by 7.74% YoY to Rs.11,18,481 Cr in Jun’22. Global Advances grew by 15.20% YoY to Rs. 4,77,746 Cr in Jun’22. Domestic Advances increased by 9.72% YoY to Rs.4,01,210 Cr in Jun’22.

Solid performance and an increasingly challenging environment

Covestro continued its successful start to the current fiscal year in the second quarter of 2022. The Group’s sales increased by 18.9 percent compared with the prior-year quarter to EUR 4.7 billion (previous year: EUR 4.0 billion), in particular on the back of higher average selling prices. EBITDA fell in the second quarter by 33.0 percent to EUR 547 million (previous year: EUR 817 million). This was mainly due to significantly higher raw material and energy prices, which were partially offset by a higher selling price level, and to lower volumes sold. The free operating cash flow (FOCF) fell to EUR –462 million (previous year: EUR 374 million). That is mainly attributable to an increase in funds tied up in working capital, especially due to the payment of short-term variable compensation for fiscal 2021, and to lower EBITDA. Net income in the second quarter of 2022 fell by 55.7 percent compared to the very strong prior-year quarter and was EUR 199 million (previous year: EUR 449 million).

“We can look back at what was overall a solid second quarter, and we even slightly surpassed our EBITDA forecast. Nevertheless, we are looking ahead to an increasingly challenging second half of the year. The current geopolitical situation shows us all too clearly that there is no alternative to the transformation toward a sustainable, fossil-free industry landscape,” said Dr. Markus Steilemann, CEO of Covestro. “With our vision of becoming fully circular and our ambitious climate targets, we are underscoring our position as a forerunner on the path toward a climate-neutral future.”

Full-year guidance 2022 adjusted 

The Russian war against Ukraine has fundamentally changed the geopolitical situation and caused extensive consequences for the global economy. The Group therefore expects continued impacts on global supply chains, very high energy price levels, high inflation and weaker growth in the global economy.

As a consequence of a recent significant further increase in energy costs and a further weakening global economy, Covestro adjusted its outlook for the current fiscal year on July 29, 2022. The Group anticipates that EBITDA will be between EUR 1.7 billion and EUR 2.2 billion (previously: between EUR 2.0 billion and EUR 2.5 billion) and ROCE above WACC between minus two and two percentage points (previously: between one and five percentage points). The FOCF is now expected to be between EUR 0 million and EUR 500 million (previously: EUR 400 million and EUR 900 million). Covestro expects greenhouse gas emissions to fall to between 5.3 million and 5.8 million metric tons (previously: between 5.5 million and 6.0 million metric tons). The Group anticipates EBITDA for the third quarter of 2022 will be EUR 300 million to EUR 400 million.

“In the second quarter we benefited from a faster than expected recovery after the lockdowns in China and an intact demand for our products,” said Dr. Thomas Toepfer, CFO of Covestro. “In this second half of the year, the macroeconomic risks have once again increased significantly, particularly with regard to the very high energy costs and uncertainties in gas supply at our German sites.”

The company’s German sites account for around a quarter of global production capacity. Covestro is initiating various measures to reduce its gas requirements in Germany in the short term, such as by switching to oil-based steam generators. In addition, the company is continuously working to improve existing production technologies and roll out new ones in order to further reduce gas and energy consumption. If gas supplies are rationed in the further course of the year, this could result in partial load operation or a complete shutdown of individual Covestro production facilities, depending on the level of the cutback. Due to the close links between the chemical industry and downstream sectors, a further deterioration of the situation is likely to result in the collapse of entire supply and production chains.

Continued focus on the circular economy and climate neutrality 

Covestro has implemented further measures to drive its vision of becoming fully circular and achieving climate neutrality by 2035. In May 2022, for example, the company launched “CQ” – “Circular Intelligence”, a new concept that makes circular solutions in the product portfolio even more visible to customers. That means Covestro will in the future highlight the alternative raw material base for its products if it is at least 25 percent. One of the first “CQ” products is Desmodur®CQ. Polyurethanes based on Desmodur®CQ are used in upholstered furniture, mattresses or thermal insulation, among other things.

In June 2022, Covestro also opened a new Wind Technology Center in Leverkusen, where the company is conducting research into material solutions for sustainable energy generation from wind power. The focus is on faster and more cost-effective production of rotor blades and optimization of their blade properties. In this way, the service life and thus also the energy yield can be increased in order to drive the expansion of alternative energies.

Both segments post sales growth 

Sales in the Performance Materials segment in the second quarter of 2022 rose by 25.8 percent compared to the prior-year quarter and were EUR 2.5 billion (previous year: EUR 2.0 billion), in particular on the back of a higher selling price level. Logistical bottlenecks caused by lockdowns due to the pandemic in China limited the segment’s further growth particularly in the APAC region. EBITDA in Performance Materials fell by 43.0 percent to EUR 367 million (previous year: EUR 644 million), mainly due to lower margins. The free operating cash flow fell to EUR –37 million (previous year: EUR 373 million), largely due to the lower EBITDA and an increase in funds tied up in working capital.

The Solutions & Specialties segment posted an 11.0 percent increase in sales to EUR 2.2 billion in the second quarter of 2022 (previous year: EUR 2.0 billion). A rise in the selling price level and exchange rate effects helped increase sales. The segment’s EBITDA fell to EUR 213 million, or by 10.1 percent compared to last year’s second quarter (previous year: EUR 237 million). This was mainly due to a decline in volumes sold and lower margins. The free operating cash flow of Solutions & Specialties fell to EUR –139 million (previous year: EUR 29 million), likewise due to an increase in funds tied up in working capital.

High selling price level impacts first half of 2022 

Group sales in the first half of 2022 increased by 29.2 percent to EUR 9.4 billion (previous year: EUR 7.3 billion). That was due to a higher selling price level, exchange rate movements and the portfolio change arising from the acquisition of the Resins & Functional Materials (RFM) business from DSM. Due to higher raw material and energy prices, which however were able to be partially offset by the higher selling price level, the Group’s EBITDA in the first half of 2022 declined by 13.3 percent to EUR 1.4 billion (previous year: EUR 1.6 billion). Net income in the first half of 2022 was EUR 615 million (previous year: EUR 842 million), while the FOCF fell to EUR –445 million (previous year: EUR 692 million).

Falcon Autotech to automate Asendia’s parcel sorting center in Heathrow, UK using its cross-belt sorter technology…

New Delhi, 1st August 2022: Falcon Autotech, a leading supplier of Intralogistics automation solutions, has been selected by Asendia, a leading cross-border delivery company, to automate their parcel sorting center in Heathrow, UK. Using its cross-belt sorter technology, Falcon has designed Asendia’s parcel sorting center, which can handle 7,200 items per hour and operate in a 24 x 7 environment.

“As consumer shopping habits have increasingly shifted online over the past couple of years, their expectations have risen. Retailers thus need their orders to be fulfilled quickly. Asendia continues to be a front-runner in adopting innovative solutions. Our collaboration with Falcon Autotech, a leader in sortation solutions, underscores our commitment to the fast and efficient movement of parcels within our ecosystem.” Ed Turner, CIO, Asendia.

Naman Jain, Chief Executive Officer, Falcon Autotech, said, “We are delighted to have been chosen by Asendia for delivering a world-class sortation solution for them. Completing the UK project marks another milestone for us as a company growing in the international markets.”

The system is equipped with infeed conveyors that are seamlessly integrated with automatic label applicators. All parcels are automatically labeled and enter Falcon’s automated Loop Cross Belt Sortation system. This system has automatic barcode scanning, dimensioning, weighing, and image capture capabilities. The sorter is installed on the mezzanine floor and is designed to flexibly sort parcels directly into pallet boxes, bags, or containers.

Along with the world-class design and hardware, the system is infused with Falcon’s robust and agile warehouse control system that offers different features and multiple exception handling protocols for maximum flexibility.

Ayekart Inks an MoU with Chinnayya Adivasi Vikas Sangham for the upliftment of rural smallholder farmer communities in India

India, August, 2022: With an objective to uplift the smallholder farmers with an improved income and stability, Ayekart, India’s First Integrated tech platform undertakes a memorandum of understanding with Chinnayya Adivasi Vikas Sangham (CAVS). The MOU is signed in order to establish a strategic collaboration between both the parties in developing a partnership for financially supporting and upgrading the growth of tribal farmers to improve their income.

Furthermore, the parties look forward to work on various projects like nutrition, improved agricultural practices, and millet-based interventions for reforming and improvising the lives of the rural farmer communities in a co-bidding way, leveraging network, finance, supply chain solutions, and other services to them.
Aligning with the vision of our Honorable PM for 10000 FPO, Ayekart and CAVS will dedicatedly support FPOs and MSMEs to make them the major contributor to the socio-economic developmentof India.

Elucidating the objective of this MOU, Mr. Debarshi Dutta, Co-founder & CEO, Ayekart said, “We look forward to work in accordance with CAVS, this partnership will provide us a platform to extend our basket of services through Technology, Finance, management, linkages, etc. This partnership will help us leverage the core network, financial solutions, and supply chain solutions. Thus, providing the farmers complete assistance with regard to cultivation so as to curb loss and maximize their profits. We look forward to bridging the gaps that will improve various means of livelihood. To benefit farmer communities furthermore, we are also trying to procure funding through CSR, NGO, and government bodies to help boost their productivity and enhance their business.” 

Advancement in technology and funding assistance will provide the required assistance to such small and marginal farmer communities in rural India. Technically upgraded all devices and precision agriculture will help farmers’ produce to be more profitable, efficient, safer, and more environmentally friendly. Ayekart will create an end-to-end solution by digitizing, handholding, and providing funding to these farmer communities and providing all the required assistance.

Adding to Mr. Dutta’s Statement Mrs. Bhudevi President, Chinnayya Adivasi Vikas Sangham, said, “The joint efforts from Ayekart and CAVs are expected to improve the economic and social status of tribes from the region and strengthen FPCs / FPOs. The interventions from Ayekart in quality, formulae for new millet cooky variants, and improved packaging will help to find a marketplace in Supermarket & retail chains. The FPCs supported tribal farmers engaged in the cultivation of pineapple, turmeric, etc on hilly terrains, production of Jute bags, hill brooms, etc needs Ayekart’s support for hand holding, finances, collective marketing, value addition, and brand equity.” 

This assistance will improve the profitability of such rural and marginal farmers of India, upgrading their livelihood, agricultural produce, and allied. Ayekart and CAVS will jointly develop a service rollout plan for providing them technical and financial assistance. The funding provided to them will eventually help them to increase their agricultural produce, growth, and significance in the market.

NSDC Collaborates with LawSikho to strengthen upskilling programs

Delhi, August 2022: National Skill Development Corporation (NSDC) has partnered with fast growing legal education startup LawSikho to bring world class skill development programs resonating with the vision of NSDC, to fulfill the growing need in India for skilled manpower and narrow the existing gap between demand and supply of skills.

An agreement signing ceremony was held on 22nd June 2022 at the NSDC headquarters at Aerocity, New Delhi, in presence of Ved Mani Tiwari, COO and officiating CEO of NSDC and Ramanuj Mukherjee, Abhyuday Agarwal and Siddhant Baid, co founders of LawSikho. Honey Pamnani from the strategic partnerships and impact investment team at NSDC facilitated the ceremony.

The partnership will benefit over 10,000 learners over a period of 3 years. LawSikho will be focusing on learners from tier-2, tier-3 cities, small towns and villages across India under this program to introduce them to cutting edge digital skills that can lead to remote jobs, freelance opportunities, internships and other career outcomes for the learners.

Apart from career opportunities in India, the learners will get an opportunity to benefit from talent arbitrage jobs, where they can work with clients and employers in foreign countries after learning relevant skills thanks to the burgeoning remote job & freelancing market.

NSDC will provide joint certification for various courses, facilitate low interest skill loans and assist learners to get opportunities through various NSDC networks. Lauding the partnership, Ved Mani Tiwari, Chief Operating Officer and Officiating CEO, NSDC, said, “This collaboration with LawSikho is a step towards fulfilling the need for a skilled workforce in India and narrowing the existing gap between the demand and supply of the future skills. We are in dire need of solid skills and as a result, all sectors are adopting different solutions. It is our constant attempt to make skilling and vocational education available for all. Skilling and upskilling are key tools in not just empowering the country’s workforce but also in creating new booming sectors in the economy. I am certain that this collaboration holds huge growth potential for both the organizations.” the learners and provide strategic support to LawSikho under this partnership. 

Ramanuj Mukherjee, CEO at LawSikho, said on the occasion “NSDC is creating a very powerful nationwide platform for skilling startups. A lot of policy decisions have been taken for sustainable employability enhancement. We look forward to serving Indian youth better than ever with this support from NSDC.”

Blue Dart re-appoints Balfour Manuel as Managing Director…

August, 2022, Mumbai: Blue Dart Express Limited, South Asia’s premier express air and integrated transportation and distribution logistics company has re-appointed Balfour Manuel as Managing Director for another term of 5 years with effect from 16th May, 2022. The shareholders of the Company approved his re-appointment at the recently held Annual General Meeting.

Balfour Manuel has been instrumental in the success of Blue Dart since its inception. He has been with the organization since its initial days in 1983 and has played a key role in focusing its ‘People Centric’ philosophy. ‘Customer Focus’ remains a key priority led by a ‘Customer Centric Culture’ which makes Blue Dart a ‘Provider of Choice’, ‘Investment of Choice’ and an ‘Employer of Choice’. He is responsible for the organization’s market-differentiating capabilities which includes an extensive ground network as well as robust air network supported by the organization’s own fleet of aircraft and an extensive reach of over 55,000 locations across the nation.

Sharad Upasani, Chairman, Blue Dart commented, “Despite the VUCA environment, under Balfour’s leadership, we are elated to see the robust growth that Blue Dart has achieved in the last four years. His extensive knowledge and all-round experience in the logistics sector has enabled the organisation to surpass emerging challenges and remain a leader in the logistics space. We are optimistic that, the ensuing years, will be more rewarding and Blue Dart will continue to deliver excellent results year over years. 

On this occasion, Balfour Manuel, Managing Director, Blue Dart said, “The next five years are going to be challenging and I am grateful to have this opportunity to set new benchmarks. Like always, we will persistently focus on overall sustainable growth and expansion and remain the nation’s trade facilitator and a deeply customer-centric brand, offering wide range of logistics solutions that cater to our customers’ needs. With a keen focus on technology & digitalization, infrastructure, strengthening of our aircraft fleet, our brand and ‘people connect’, we will continue to remain a Provider of Choice, consistently working towards the group’s credo, ‘Connecting People, Improving Lives.” 

Further, Blue Dart has strengthened its present Board composition with the induction of Prakash Apte and Padmini Khare Kaicker as Independent Directors of the Company for a term of 5 years, effective from 28th July, 2022.