Archive: September 30, 2022

Business

Mr. Avinash Pandey, CEO, ABP Network has been elected as the President of the International Advertising Association (IAA) India Chapter for the year 2022-23.

Sep 30, 2022 by Rabindra 0 Comments

Mr. Avinash Pandey, CEO

The International Advertising Association is the world’s only globally-focused integrated advertising trade association with membership representing Advertising agencies and the Media. The IAA comprises Corporate Members, Organizational Members, Educational Affiliates, as well as 56 Chapters with individual members and young professionals from 76 countries including the top 10 economies in the world. IAA is over 80 years’ old and is headquartered in New York. IAA in India is seen as the most active chapter by IAA Global and is well-recognized for some of its marquee events like the IAA Leadership Awards, IAA Olive Crown Awards, IndIAA Awards, IAA Debates, IAA Conversations, among others.

Business

Views on RBI Policy: Mr. Dhiraj Relli, MD &CEO, HDFC Securities

Sep 30, 2022 by Rabindra 0 Comments

Mr. Dhiraj Relli, MD &CEO, HDFC Securities views on the Monetary Policy announced by the RBI earlier today.

The MPC voted to raise the repo rate by 50 bps taking it to 5.9% as widely expected while remaining focused on the withdrawal of accommodation. A higher rate hike is justified in the backdrop of inflation remaining at elevated levels with the projected trajectory being above RBI’s target during the entire forecast horizon. Economic growth has remained resilient in the face of an adverse global environment. The recent sharp depreciation in the rupee (although well managed compared to other emerging countries) might have weighed on members’ decision in favour of a larger rate hike, addressing external sector imbalance and reducing the interest rate differential. Unchanged inflation forecast at 6.7% for FY23 (and 5% in Q1FY24) is reassuring with a high average crude oil price of US$ 100 per barrel considered in this, providing a cushion. FY23 GDP projection was lowered marginally from 7.2% to 7% for FY23. Overall, it was a prudent policy announcement with no negative surprises which is reflected in the impact on the 10-year yield and stock markets. The next stage of response could be calibrated; we expect the terminal repo rate would be 6.25-6.40% by FY23 end.”

Business

Austrade Education and Future Skills Initiatives and Australia–India Cybersecurity Hackathon Challenge launched at AIBX 2022 Business Mission event in Bengaluru

Sep 30, 2022 by Rabindra 0 Comments

Mr Xavier Simonet, Chief Executive Officer, AustralianBengaluru 1st Octbour2022: As a part of the AIBX 2022 Business Mission, the Australian Trade and Investment Commission (Austrade) launched future skills initiatives, the Australia-India Cybersecurity Hackathon Challenge along with key partnerships and initiatives in Bengaluru today.

Austrade’s future skills initiatives will support skilling capacity in India by upskilling India’s workforce through world-class Australian vocational, training and education programs. Austrade will bring a delegation of Australian skills providers to India early 2023, to exchange ideas and partner for success with Indian counterparts.

To support tech collaboration, Austrade has partnered with NASSCOM and 2 universities for the Australia-India Cybersecurity Hackathon Challenge. This program will bring together industry and academia to showcase the cyber credentials of Australian and Indian universities and their students.  Students competing in this challenge will tackle real-world challenges, during the hackathon, with the help of industry experts.

Speaking at the launch, Mr Xavier Simonet, Chief Executive Officer, Australian Trade and Investment Commission, Australian Government said, “Australian Government Education initiatives are designed to shape the global careers of Indian students. We work closely with the students to assure world-class education, skills to support strong careers pathways and an unmatched lifestyle for students. Since the early 2000s, Australia has become a destination of choice for Indian students pursuing higher education internationally and will continue to have a strong relationship with the students. This year’s AIBX 2022 business mission comes at a time when Australia and India are more strategically and economically aligned and our focus turns to bringing Australian skills and curriculum to be delivered in India through partner institutes.”

Dr Monica Kennedy, Senior Trade and Investment Commissioner, Australian Trade and Investment Commission also announced several Australia-India partnerships. These announcements were witnessed by Mr Xavier Simonet, Chief Executive Officer, Australian Trade and Investment Commission, Australian Government.

  1. The UNISA–Accenture partnership is a 10-year program. UNISA will offer a Bachelor of Digital Business program for which content is provided by Accenture. It also includes opportunity for Accenture scholarships and internships for students.
  1. Australia’s Griffith University, UpGrad, Insofe and UpGrad Atlas signed a partnership for 3+2 transfer arrangement for UpGrad students to Griffith University for a Master of Information Technology program.
  1. Curtin University signed a partnership with TEXMiN, the technology innovation hub of the IIT-Indian School of Mines Dhanbad. This partnership will foster development and commercialisation of cyber-physical system based services & products related to exploration and mining. The signing will also see the establishment of a world-class center at the IIT ISM Campus at Dhanbad.

Dr Kennedy also launched Study Australia’s “India Student Hub (Digital Education Hub) toolkit” which provides Indian students with access to course search tools, an employability hub and masterclass library to help identify their strengths, scope career options and build their employability skills. Students will also have access to course information to identify the best courses for their careers. The hub elevates ‘Study Australia’ brand positioning through omni-channel campaigns and special projects like the Industry Experience Program, Study Entrepreneurship Challenge, and Study Australia showcase. The site also hosts the ‘partner hub’ which provides up-to-date information to education partners.

Business

Market Experts Reaction Quotes | RBI Monetary Policy | Stock Market, Real Estate & Personal Finance To:

Sep 30, 2022 by Rabindra 0 Comments

Dr. Ravi Singh, vice President and head of Research, Share India

In line with the expectation, RBI has increased the repo rate by 50 basis points and is already discounted by the market. The indices and stocks are currently witnessing weakness taking cues from the selling pressure in the global markets. Nifty may sustain the support of 16800 levels if the international markets show reversal. A rebound in Nifty may show the levels of 17200 else the downside levels of 16500 is possible. Being inflation and rupee weakness still major concerns which needs to be improved keeping economic growth in pace, Investors should wait till the market sentiments stabilises for fresh entry.

Mr. Suren Goyal, Partner, RPS Group

RBI’s hike in repo rate will have some impact on the current housing market. However, the overall impact will be limited, and the industry will continue to perform well in the coming time. There are plenty of buyers both in the cost-efficient as well as premium & trendy segments. Interestingly expats are also showing tremendous interest in real estate and the investor class is also pivoting lured by the tangible nature of the asset. Price growth so far has been moderate and this is one of the best times to buy homes. Moreover, the pandemic has also induced buyer interest in other categories such as plotted developments, villas, and farmhouses. Though these are niche segments, their growth will help the overall industry.

Mr. Amit Gupta, MD, SAG Infotech

Finally, we have an Inflation forecast for FY23 that remains at 6.7% as we all earlier expected due to rises in food prices. Another hard fact is that despite declines in growth, inflation remained at 6.7% in FY23, with an accurate GDP forecast at 7.4%. The US dollar is at a record high and we are seeing emerging markets’ economic challenges including a slowing global economy, rising energy prices, spillovers from advanced economies, debt distress, and sharp currency declines. Although global recession fears are mounting and inflation is high, the Indian economy remains resilient. It has become more important for RBI to continue front-loading its rate hikes – providing a soft defence for the rupee – as global tightening increases.

Mr. Ravi Singhal, CEO,GCL

As we can see, the governor of the RBI increased the RRR by.50 percent. The inflation target has passed. Rainfall is expected to be delayed.
Approach to accommodate
Demand is expected to remain strong in the second half. Still, the inflationary effect is looming. The possibility of increasing interest rates is also increased.

Ankit Aggarwal, MD, Devika Group

The Indian real estate looks upbeat and will defy any rise in Repo rates. Earlier as well, repo rates were increased. However, the industry remained largely unperturbed with accelerated growth in most of the major markets in India. Consumer sentiments are strong and there is a visible demand in the market. Moreover, buyers now understand that property prices from here would continuously rise for an extended period of time, and hence rather than wait and watch, the most suitable step is to make the move. A reboot in the economy and strong structural parameters such as a surge in urbanization and attractive demography will also dovetail the market in a positive direction.

Scaler Partners with a leading Creative Agency, The Womb, To Disrupt Tech Education Landscape
Business

Scaler Partners with a leading Creative Agency, The Womb, To Disrupt Tech Education Landscape

Sep 30, 2022 by Rabindra 0 Comments

 

." said Rahul KarthikeyanMumbai, 30th September 2022: Scaler (by InterviewBit), one of India’s fastest-growing tech upskilling start-ups, today announced its partnership with The Womb, a leading Brand & Creative agency, to build an impactful and differentiated brand position and strengthen Scaler’s leadership in the tech education space.

The agency will collaborate with Scaler and foster the brand’s propositions with innovative and robust communication narratives. Scaler recently launched a campaign for the Data Science Product with The Womb on a massive scale and is geared up for more such mega campaigns in the coming year.

The Womb falls under the top 3 independent agencies in the world by WARC rankings, and the most effective Independent Agency by APAC EFFIES.  The Womb combines creativity with business consulting thinking, which aligns with how Scaler aims to pivot the branding and business needle. Over the last seven years in India, the Womb team has created iconic challenger brands that have radically altered multiple business categories.

“We are thrilled to partner with The Womb to strengthen our foothold in the edtech ecosystem. We have been doing some really exciting work at Scaler and have several more product launches in the pipeline for the community. With this integrated collaboration, we look forward to creating some great and iconic brand campaigns and disrupting the tech learning space in India and overseas.” said Rahul Karthikeyan, Chief Marketing Officer, Scaler and Interviewbit. 

“The womb seamlessly aligns with our set of ideologies and brand propositions at this juncture of our growth, and we are confident this partnership will help anchor our communication & creative strategy across platforms through strategic storytelling“, He added.

Kawal Shoor, Founding Partner, The Womb, said, “Businesses of all sizes and across categories are going digital and are heavily banking on technology for its success, putting professionals in fields like software development, data science and business analytics in high demand. The worlds of business and technology are constantly changing the choice of career paths, and this is where a new-age education brand like Scaler has unique opportunities. As with any young brand and business, getting it right early is crucial for transformative growth. This challenge has escalated significantly with the ever-changing landscape of online education. And this is where we step in. The team at Scaler believes in doing things that have never been done before. So it was a great fit with what we believe and the work we create.” 

In the past eight months, Scaler has launched four digital films communicating the brand’s value proposition and product attributes. With this collaboration, Scaler plans to launch 6 or 7 new campaigns to build a differentiated positioning and consolidate the brand’s position as a leading player in the tech learning space.

Scaler is a leading ed-tech start-up for upskilling students and working professionals working towards mentoring budding tech talent and helping them achieve their career goals. Scaler equips students with industry-ready skills and coaches them on how best to approach the interview process at leading tech companies.

 

Business

Leverage the Zero Trust architecture platform to create smarter and more secure workspaces

Sep 30, 2022 by Rabindra 0 Comments

Mumbai: 30th September 2022 – Citrix and Anunta are initiating CXO Leadership Engage- Creating Safer Workspaces through Zero Trust to envision the future and analyze the work-from-home anywhere infrastructure from a cloud perspective. The whole Zero Trust approach means everything needs to be verified. It requires that all users, whether inside or outside the corporate network, be authorised, authenticated, and continuously validated on security configuration and status before granting or maintaining access.

The first facet of Zero Trust is to identify, integrate and authorize. The original definition of Zero Trust is that we have no data footprint on the end device. The ZT solution should consider devices from an adaptability perspective. There are three ways to secure work from home with Zero Trust. The first step is to identify your users. The concept of zero trust starts with understanding the company’s user base, second protecting the data, and finally includes cloud applications.

Citrix zero trust security architecture is built upon:

  • Explicit verification and continuous validation: users must be authenticated, authorized, and validated on an ongoing basis to ensure they always have the proper permissions. Numerous data points such as user identity, geolocation, and device posture may be leveraged for this purpose. One-time validation of user identity is no longer enough.

  • Least-privileged access: Zero trust reduces a company’s attack surface by enforcing the principle of least privilege so that identities only get the lowest level of access to the network by default. In tandem with other cybersecurity practices such as adaptive access, least-privileged access sharply limits lateral movement within a zero trust model.

  • VPN-less access to apps & data. Citrix Workspace enables VPN-less access to sensitive resources and is secured by providing access policies (built-in anti-keylogger, anti-screen capture, watermarking, upload/download/clipboard/printing/scanning control) throughout the session.

Talking about its partnership with Citrix, Mr. Ajit Aloz, Head of Cloud Practice and Sales, Anunta said, “To strike the right balance between great employee experience and corporate data security, organizations should leverage End User Computing technologies like desktop virtualization that have Zero Trust at its core. Anunta, being a Platinum Plus Partner with Citrix for over 10 years has been enabling organizations to find this balance perfectly, reducing the risk of unauthorized data access while ensuring anywhere-anytime access to users.”

Speaking on the occasion, Dixit Roy Mahidhara, Senior Sales Director, Citrix, said, “The three main concepts of Zero Trust are comprehensive visibility, micro-segmentation and least access control, and continuous monitoring and enforcement. The Zero Trust model works in five key areas including User, Device, Application, Data, and Session. Device and user are the key areas that the Zero Trust ecosystem emphasizes the most.”

Mr. Dixit further said, “Zero trust the Citrix way applies beyond networking, to users, devices, networks, applications, and even how people work. It adheres to NIST’s zero trust tenets. A session-based access policy is continuously enforced dynamically. Access to any resource requires authentication, and infrastructure and resources are constantly monitored. In order to create a Zero Trust architecture, companies use three approaches.”

The essential requirement for any user or device to access a corporate resource is access rights, which are granted only after their identity has been verified by a trusted source. The nature of the network-based approach requires the ability to segment the network perimeter or enterprise resources into subsections, with each section secured by a web gateway. The cloud-based approach uses systems that integrate with each asset, making cloud access easier to manage for any organisation.

Anish Ravindranathan: An Independent Enterprise Security Architect, said, “As nation-wide attacks increase, more sophisticated attacks will target critical infrastructure like power grids, manufacturing sectors, and smart cities. A lot of sensors, embedded systems, etc. (IOT) will be made available over the internet, increasing attack vectors. Hence, there is a need to invest in OT security training and build the skillset to prepare for cyber warfare.”

Mr. Anish further stated, “The evolution of data science and AI/ML in cyber security will change how everyone approaches detecting and responding to security incidents. Five years down the road, the SOC or Incident Response will be completely automated with no human intervention (SOC Analysts). In the future, forensic investigations will be performed remotely over the cloud instead of in the lab. As technology and attack patterns rapidly change, an agile security architecture is needed to identify and protect against malicious activities. Security architects will be required to conduct continuous design reviews and evaluate technologies and security gaps.”

Business

Finolex and Schbang Motion Pictures launched the Award-winning sensational short film ‘Prahlad’ on YouTube

Sep 30, 2022 by Rabindra 0 Comments

Prahlad is a short film based on actual events revolving around the life of the Late Shri Pralhad P. Chhabria’s, adapted from the autobiography- ‘There’s No Such Thing as a Self-Made Man.’ The movie was launched on YouTube on 1st September 2022. Schbang Motion Pictures produced the film and was backed by Finolex Industries. The film engulfs the values of the foundation of Finolex Group and highlights the journey of Shri Prahlad P. Chhabria’s entrepreneurial success in the early revolution of Indian industrialisation.

The movie was top-rated among film fanatics and won 22 awards in International and National Film festivals. The actor portraying Prahlad P. Chhabria is Ritvik Sahore (of ‘Laakhon me ek’ fame), with other cast members like Aabid Shamim, Annapurna Soni and Chinamay Das in the supporting roles. Among the several acclamations collected by the film, it was awarded high regard at the Prague International Film Festival, London Film and Television Festival, and Moscow International Film Festival.

“We hope this film inspires all the entrepreneurs starting today with the ethos of Indian entrepreneurship. It is the perfect blend of understanding people and having a strong sense of detail about today’s society. Founder, Late Shri Pralhad P. Chhabria is proof of that. This story illustrates those values very closely,” said Mr Prakash P. Chhabria, son of Late Shri. Pralhad P. Chhabria, when asked about his enthusiasm for the successful launch of the short film on YouTube.

Harshil Karia, the producer of the film and Founder of Schbang, said, “We are constantly looking for powerful stories that need telling, whether for the brands we work with or humanity at large. Schbang Motion Pictures found inspiration in the life of Shri Pralhad P. Chhabria, the renowned Founder of Finolex Group. Though his life deserves a feature film, we are happy to share this one incident with the world through our short film – ‘Pralhad. The company he has created is an inspiring story that is worth studying for the upcoming generations of Indian Entrepreneurs.”

Finolex has significantly contributed to India’s agricultural efforts and the country’s efforts in plumbing and sanitation by providing quality products to rural and urban area consumers since 1981. Pralhad P. Chhabria’s belief in superior engineering and his ability to build relationships with people across the board, coupled with his iron grip on numbers and made Finolex one of the most respected names in the Indian Industry. With over 900 dealers and 21,000 retail touch points, the late Founder built a Parivaar that is thriving today to serve the loyal consumers of Finolex’s products.

The late Shri Pralhad Chhabria was one of the most notable philanthropists of his time. He established the Mukul Madhav Foundation & Hope Foundation and Research Centre, active in the fields of medical assistance, education & social welfare for the underprivileged. He established Mukul Madhav Vidyalaya at Ratnagiri and engineering institutions Finolex Academy of Management & Technology in Ratnagiri, and International Institute of Information Technology at Hinjawadi, Pune, Maharashtra. This film not only takes the viewers on a ride to his entrepreneurial skills but also propagates the idea behind building a million-dollar empire.

Agnishwar Jayaprakash, CEO
Business

Garuda Aerospace receives Directorate General of Civil Aviation approval for Remote Pilot Training Organization

Sep 30, 2022 by Rabindra 0 Comments

30th September 2022, India

India’s leading drone company, Garuda Aerospace has received necessary approvals from the Directorate General of Civil Aviation (DGCA) thus becoming the 31st Remote Pilot Training Organization (RPTO) in India. The company has been a pioneer in the industry and has deployed Agri Kisan Drones across the country which helps monitoring and analyze impact with providing training to youth. Having received due approvals from DGCA, Garuda Aerospace now aims to train and skill 1 lakh youth across 755 districts for the correct use of drones for agricultural purposes thus further empowering India’s agri economy.

Garuda Aerospace was a recipient of the maiden drone loan by Agri Infra Fund for Made in India Kisan Drones; the loan aids farmers purchase drones. To keep up with the rising demand for agri drones, Garuda Aerospace aims to manufacture at least 1 lakh Kisan Drones by 2024 thus creating employment for Indian youth with an opportunity to earn an average income of about Rs. 1 lakh a month. The Agri Kisan Drone helps increase food crop productivity, reduce crop loss, and reduce farmer exposure to harmful chemicals while being capable of arranging services like the precision spray of pesticides, fertilizers, crop health monitoring, surveillance, industrial inspection, yield measurement, and crop loss mitigation and are fitted with sensors, cameras, sprayers, etc.

30th September 2022, India   India’s leading drone company, Garuda Aerospace has received necessary approvals from the Directorate General of Civil Aviation (DGCA) thus becoming the 31st Remote Pilot Training Organization (RPTO) in India. The company has been a pioneer in the industry and has deployed Agri Kisan Drones across the country which helps monitoring and analyze impact with providing training to youth. Having received due approvals from DGCA, Garuda Aerospace now aims to train and skill 1 lakh youth across 755 districts for the correct use of drones for agricultural purposes thus further empowering India’s agri economy.   Garuda Aerospace was a recipient of the maiden drone loan by Agri Infra Fund for Made in India Kisan Drones; the loan aids farmers purchase drones. To keep up with the rising demand for agri drones, Garuda Aerospace aims to manufacture at least 1 lakh Kisan Drones by 2024 thus creating employment for Indian youth with an opportunity to earn an average income of about Rs. 1 lakh a month. The Agri Kisan Drone helps increase food crop productivity, reduce crop loss, and reduce farmer exposure to harmful chemicals while being capable of arranging services like the precision spray of pesticides, fertilizers, crop health monitoring, surveillance, industrial inspection, yield measurement, and crop loss mitigation and are fitted with sensors, cameras, sprayers, etc.   Agnishwar Jayaprakash, CEO and Founder, Garuda Aerospace said, “As drone tech experts, we at Garuda Aerospace aim to aid and empower the Agri economy with state-of-the-art solutions for age-old issues. The approval from DGCA is empowering as it presents us an opportunity to further showcase our strength as India’s leading drone tech expert. We have always believed that India’s agri economy has tremendous potential that is yet to be unlocked. With this approval, we are certain that we will be able to utilize our skillset and help the sector grow significantly. Rohit Srivastava, our drone pilot earns 1 lakh with Garuda drones as he has received advanced drone pilot training and will soon be honored with an RPTO certificate. We are certain about creating new job opportunities as we begin training, educating, and skilling Indian youth for diverse applications.” Garuda Aerospace recently commenced its $30 million Series A round at a $250 million valuation and has been termed as India’s most valuable startup and expects to be India’s first drone Unicorn startup in the near future. Former Indian cricket team captain Mahendra Singh Dhoni has invested and is also the Brand Ambassador of the company. Garuda Aerospace boasts of a drone fleet of 400 drones and a well-trained team of over 500 pilots across 26 different cities.

Agnishwar Jayaprakash, CEO and Founder, Garuda Aerospace said, “As drone tech experts, we at Garuda Aerospace aim to aid and empower the Agri economy with state-of-the-art solutions for age-old issues. The approval from DGCA is empowering as it presents us an opportunity to further showcase our strength as India’s leading drone tech expert. We have always believed that India’s agri economy has tremendous potential that is yet to be unlocked. With this approval, we are certain that we will be able to utilize our skillset and help the sector grow significantly. Rohit Srivastava, our drone pilot earns 1 lakh with Garuda drones as he has received advanced drone pilot training and will soon be honored with an RPTO certificate. We are certain about creating new job opportunities as we begin training, educating, and skilling Indian youth for diverse applications.”

Garuda Aerospace recently commenced its $30 million Series A round at a $250 million valuation and has been termed as India’s most valuable startup and expects to be India’s first drone Unicorn startup in the near future. Former Indian cricket team captain Mahendra Singh Dhoni has invested and is also the Brand Ambassador of the company. Garuda Aerospace boasts of a drone fleet of 400 drones and a well-trained team of over 500 pilots across 26 different cities.

New FedEx Research Shows E-commerce Opportunities Set to Grow for SMEs Under ‘New Normal’
Business

New FedEx Research Shows E-commerce Opportunities Set to Grow for SMEs Under ‘New Normal’

Sep 30, 2022 by Rabindra 0 Comments

New Normal’

India, September 29, 2022 – The latest e-commerce trends from a research commissioned by FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX), and one of the world’s largest express transportation companies, shows that both Small and Medium sized Enterprises (SMEs) and consumers agree that there’s room for further growth in the already booming e-commerce sector. 83% of Indian consumers have purchased more from e-commerce platforms in the last three years and this momentum is likely to continue. 

The What’s Next in E-Commerce survey polled Small and Medium sized Enterprises (SMEs) and consumers in India, and 10 other markets in the Asia Pacific, Middle East and Africa region (AMEA) in July 2022 to explore the continuing evolution of e-commerce in the region and identify the trends that could fuel their future growth. 

         The survey reveals that consumers are looking for innovations in personalization, shoppertainment and payment options that enhance their experience and at the same time, make it easier to discover new brands and make purchasing convenient. And with plenty of shopping festivals already in the calendar, consumers are looking for even more seasonal offers. Taken together, the research shows there is plenty of fertile ground for e-tailers to experiment with new approaches that can help build their customer base. 

“COVID has accelerated our lifestyles to a pivot point where shopping online has been normalized across all demographics, and there’s no going back. With that, e-commerce is set to take a growing proportion of total consumer spend[1].” said Kawal Preet, president of the Asia Pacific, Middle East and Africa (AMEA) at FedEx Express. “With more people shopping online consumer preferences are becoming increasingly sophisticated. As SMEs and e-merchants evolve their online sales platforms, our research uncovers opportunities for businesses to capitalize on what consumers want. Customer experience is the driving force behind how e-tailers engage with their customers and how we are innovating our shipping solutions. With an expanded portfolio specially developed for e-commerce businesses, FedEx is well positioned to support the changing expectations of consumers and continuation of e-commerce growth.” 

The pandemic has hot-housed e-commerce growth across the AMEA region, and India is no exception. Consumers in India are much more likely than those in other AMEA markets to forecast future growth in e-commerce, with Marketplaces becoming increasingly influential. Majority of Indian SMEs believe that they are well positioned to reap benefits. 

“SMEs are the growth engines of the Indian economy. During the pandemic the e-commerce sector provided many SMEs with an opportunity to recover and expand their business. Today, cross border trade has emerged as a key business priority for SMEs in India and a major opportunity to bolster growth. FedEx enables SMEs to reach their full potential by connecting them to a world of possibilities through the strength of our global network, tailored solutions, and valued-added services,” said Kami Viswanathan, senior vice president of FedEx Express Middle East, Indian Subcontinent and Africa Operations. 

E-commerce sector matures but further growth ahead

Asia Pacific which includes the world’s biggest e-commerce markets like India, Mainland China, Japan, and Korea[2], will see revenue from e-commerce sales reach US$2.09 trillion this year as 57% of the region’s population shops online.[3] 

Both SMEs and consumers in AMEA are maturing in their use of e-commerce and both groups agree that the pandemic-driven utilization of e-commerce is here to stay. Eight in ten SMEs believe e-commerce will become more important in their business in the next three years and nine in ten believe they are well prepared for the challenge. 80% of consumers reported that e-commerce had taken a greater share of their total purchases over the past three years while 71% see further increases ahead. 

SMEs in India, Malaysia, Philippines, and Vietnam were among the most optimistic about their future e-commerce growth in the next three years, a sentiment shared by consumers in these same markets. E-commerce currently represents less than 6% of total retail sales in each of these markets.[4] 

In India, 80% of SMEs agree that consumer buying behavior has fundamentally changed due to COVID and most of them predict e-commerce will continue to boom, and be integral to their business growth over the next three years. 93% of SMEs are excited by this, and believe they are well positioned to capitalize on this growth. 

Indian SMEs and consumers both agree on the importance of Marketplaces in the overall context of e-commerce right now, and in future. In fact, two-thirds of Indian consumers purchase items exclusively through Marketplaces. However, interestingly, whilst the importance of Marketplaces is clear, it’s worth noting that 58% of SMEs currently sell directly to customers through their own e-commerce platforms. 

Expectation mismatch on service experience touchpoints

As more consumers participate in the on-demand economy and increasing shipment volumes puts pressure on e-tailers, maintaining customer service quality is critical. The survey data reveals a significant 10% gap between how SMEs rate their own e-commerce customer experience and how consumers view it. The biggest gaps appeared in having an efficient returns service (13%) and access to customer support (11%) in the AMEA region. 

Deliveries taking too long is the number one pain consumer point (53%) followed by handling returns (42%). Consumers typically expect delivery within three days to one week, but clearly there is a desire for delivery to be at least more reliable if not faster. 

Too few experienced people for too many jobs

While the future looks bright, 65% of e-tailers in AMEA reported they were struggling to handle the growing number of orders they were receiving. Amid surging demand talent and recruitment has proven challenging for SMEs. 

In India, 80% of SMEs had experienced extremely high levels of resignations over the past 12 months as the global Great Resignation phenomenon has impacted the region. 71% believed there were too few people for too many jobs with e-commerce marketing and sales experience being most in demand, followed by logistics roles. 

Apart from India, SMEs in Thailand, Vietnam have been most affected by the talent challenge and therefore SMEs in these three markets are most likely to be receptive to support from logistics providers, to make day-to-day, repetitive shipping tasks simpler with easy-to-use tools. 

Logistics providers are here to support

FedEx is supporting the future growth of e-commerce across AMEA with a dual focus on meeting the needs of e-tailers and their end-consumers. For e-tailers FedEx provides simple, streamlined solutions which make order fulfillment easier. While for the end-consumer the priority is to provide speedy, reliable, trackable delivery, that enhances overall service experience. 

FedEx is integrating its services with e-commerce marketplaces so e-tailers can generate FedEx shipping labels and use additional FedEx features, such as Express Shipping Services and International Shipping Documentation Service, without leaving the platforms. Easy to use, friction free services like these make it easy to onboard new staff and help improve the work experience. In addition,  FedEx® International Connect Plus (FICP), launched last year was recently expanded to benefit e-tailers across fourteen markets in AMEA. This value-for-money international shipping solution delivers most shipments between 1 to 3 business days within the AMEA region, which meets consumer expectations for speed of delivery according to our survey. And, delivery customization solutions like FedEx® Delivery Manager allows e-tailers to offer their customers personalized service, and freedom to manage and control their shipping preferences, which today’s consumer demands.

NAREDCO Maharashtra organises one of a kind ‘Homethon Property Expo 2022’ in Mumbai
Business

NAREDCO Maharashtra organises one of a kind ‘Homethon Property Expo 2022’ in Mumbai

Sep 30, 2022 by Mansi Praharaj 0 Comments

30th September 2022, Mumbai: The first of its kind, three- day property expo was organized by The National Real Estate Development Council (NAREDCO) Maharashtra at the Jio Convention Centre at Mumbai today. The event was inaugurated by the chief guest and the brand ambassadors of the Homethon Property Expo, popular actor couple – Riteish and Genelia Deshmukh along with Shri Sandeep Runwal, President NAREDCO Maharashtra, Shri Niranjan Hiranandani, National Vice Chairman, NAREDCO and other top developers.

Speaking at the event, Shri Sandeep Runwal, President NAREDCO, Maharashtra, said that this event is a huge opportunity for potential home buyers to buy their dream home at a reasonable price. “We have more than 135 top developers showcase 10000+ projects. They have come out with some amazing offers which would be valid only till the time the event is on. Property buyers won’t be getting such an opportunity again,” he said.

Shri Runwal explained that it is almost after five years that a property exhibition is organised at such a massive scale. “Everything is happening on a larger scale this year as the event is taking place after a two-year gap caused by the COVID-19 pandemic. Homebuyers will be able to purchase their dream home in Mumbai as the demand for housing in the city grows. This Homethon Property Expo is India’s largest and first of its kind, allowing homebuyers to choose properties from top-tier developers across the state, as well as other amenities, all under one roof. Similarly, art lovers will be able to purchase Lord Ganesha’s masterpieces from ‘The Art Exhibition’.”

Bollywood star couple and Brand Ambassadors of Homethon Property Expo, Riteish Deshmukh stated that he is indeed excited to be a part of such a huge event. “It is a dream of every Mumbaikar to own a house in the city. I am proud to be associated with such an event which makes it happen. It is a great opportunity for property buyers to check out the homes of some of the top developers at the event. Also, with financial institutions present here, buying a house will be easier,” he said.

The property exhibition has properties ranging from luxury to premium to affordable categories, all under one roof giving consumers a wide range to choose from. A special stall featuring masterpieces from ‘The Art of India 2022-Ganeshotsav’ will be an added attraction at the event.

Over 40,000 people have already registered for this special exhibition, which will include over 200 different art forms of Lord Ganesha in various moods and postures. Art lovers and Ganpati devotees will be able to purchase works by some of the country’s top names as well as talented young artists.