Archive: December 28, 2022

C-Suite Outlook 2023: Sector Implications

C-suite executives from all around the world are concentrating on the upcoming year. This creates a valuable picture of how the corporate story will develop in 2023, which paves the way for creating strategies and plans that produce results. According to a survey by the Conference Board, the majority of chief executive officers and other C-suite leaders around the world predict that their region will experience a recession by the end of 2023. Despite the fact that 2022 is coming to a conclusion amid a great deal of uncertainty, the competition for senior talent remains fierce for the majority of firms. We discuss some of the most important business-related economic, leadership, and executive search themes that will emerge over the next six to twelve months.

Edtech Sector

Aparna Prasad, Founder, Knowledge Academy

The year 2023 looks more promising for the ‘Internationalization of Education’. In an ever-changing world, global awareness and interconnectedness through educational internationalization play a significant role in shaping the next generations of learners. Whether it is adapting a globally acclaimed curriculum or improving a national curriculum to global standards, Indian educational institutions have ample opportunities. As the Indian education sector is expected to grow over US $225 billion by 2025* and the National Education Policy 2020 aims to increase the GER to 100% in preschool to secondary level by 2030; we need more empowered and equipped educators through intensive capacity-building programs enabling a much-needed revolution in the education sector to shape these learners.

In an attempt to accredit young minds with the autonomy to realise, assess and implement their prowess effectively, the Indian education system must incorporate the readiness to let students attempt, review and execute their learnings to excel. With international boards like International Baccalaureate (IB) and Cambridge International programs supplementing the NEP framework, the students of today will be better equipped to take on the world tomorrow!

Travel Sector

Attributed to Elia San Martin, VP & GM of Asia Pacific at KAYAK

2023 will be a big year for Indian travellers which is suggested by search data from KAYAK.co.in, which has analysed flight searches for the 2023 travel period. The data shows flight searches from airports in India (between April – November 2022) have increased by about 204% compared to 2019 pre-pandemic levels. For International flights, searches have increased by about 168% and domestic flight searches have increased by about 257%*.

Dubai remains the most searched outbound destination for travel in 2023, while Bangkok, Bali, and Maldives also feature high on the list. Goa was the most searched domestic destination, followed by Andaman & Nicobar Islands and New Delhi*.

For hotels, international hotel searches by Indian travellers have increased by about 82% compared to 2019, with domestic hotel searches increasing by about 54%*.

Gaming Sector

Piyush Kumar, Founder & CEO, Rooter
Today, India is home to nearly 450 Mn gamers cutting across demographics and geographies. The market has grown exponentially owing to a younger population base, higher purchase propensity of gaming consumers, the introduction of new gaming genres, better internet infrastructure, and the emergence of decentralized and interoperable gameplay experiences underpinned by Web3 technology. Consequently, this has also birthed a strong content ecosystem driven by esports players, gaming content creators, and live streamers. In tandem, there is growing legitimacy for esports in India, comparable to traditional sports at grassroots (school and college championships) and global levels (wins at international events). With the introduction of more mobile-first gaming titles over the next year, the gaming population in the country is expected to get a further boost. Sitting at the macro trends of Gaming and Content creation, we, at Rooter, find ourselves poised to strongly ride this wave on the back of our focus on content, creator, and commerce. 2022 has been the year of many firsts – we strengthened our industry-leading creator tools, introduced multiple content formats (streams, videos on demand, and reels), and became the first gaming content platform to monetize actively. In 2023, we expect to play the lead role in driving India’s Gaming creator economy and are actively working on building out more content categories, developing a robust commerce ecosystem, and expanding our brand partnership portfolio beyond the 100+ brands we’ve engaged with in the past. We strongly believe that 2023 is going to be a defining year for this sunrise industry and we’re in a pole position to steer it.

Fintech Sector

Aditya Soni, Founder, and CEO of CheQ

Enabled by emerging technologies and innovation, Fintech has transformed the global financial services industry. It is no different for India, which is leading the Fintech race with an 87% adoption rate, higher than the global average of 64%. As per the EY report, the Indian Fintech market will expand to $200 billion in revenue by 2030. KPMG’s Pulse Q3 2022 also termed Fintech one of India’s most attractive sectors for investment. However, compared to last year, funding in Fintech decreased by 41%. Other factors that have impacted the fintech industry are the RBI-led policy changes, where non-banking fintech institutions have been prohibited from loading prepaid instruments with credit lines. Despite the circumstantial troubles in the sector, it is positioned to grow. India, where financial inclusion remains a challenge, can leverage the digital tools offered by Fintech to augment the lifestyle of people in the country. External factors and economic certainty will lead to the outlook for Fintech in 2023. The funding winter might last even during 2023. However, it will also be an opportunity for businesses to show the resilience of their business models and positioning in absorbing external shocks, making them attractive to investors. Furthermore, we will also see a rise in well-integrated digital ecosystems leading transformations. The focus on financial inclusion amongst Fintech will continue to drive growth as the government acknowledges the importance of digital platforms in making financial services accessible to all. The Indian government has so far supported the Fintech industry every step of the way. Going forward, there will be more regulations and policies to comply with, but that shouldn’t be a concern for ethical businesses. The goal is to scale and grow.

HR Sector

Sumit Sabharwal, CEO of TeamLease HRtech

I think the Great Resignation and record high attritions were the most challenging trends in the industry. Organizations understood the importance of employee engagement and retention. HR technology came out as a savior during this tough time. As a result, the demands for cloud-based HCM, zero-touch ATS, One-touch payroll, and employee engagement SaaS platforms skyrocketed on the back of remote and hybrid working models. We have successfully maintained a strong pace of growth by adding several clients to our portfolio.In 2023, AI, Meta, VR, and ML will definitely play their roles in the evolution of HR tech. Facebook’s $10 billion investment in the metaverse point towards an upcoming buzz in the VR space. We’ll see many HR tech companies leveraging the metaverse, AR, VR, and overall employee well-being including wearable devices to deliver an unparalleled employee experience and engagement in the coming years.

Supply Chain Sector

Akshay Hegde, Co-Founder of ShakeDeal

2023 looks positive for everyone in the supply chain sector with a lot of transformation tailwinds accruing for the industry. The industry has begun shaking off the hardships faced during covid 19 pandemic coupled with global supply chain disruptions and rising commodity inflation. This year has already seen a steep rise in demand for warehousing space and the year ahead is also poised to see similar rebounding growth.

Year-ender quote by Nilesh Dungarwal, Co-founder and COO, WorkIndia

Nilesh Dungarwal, Co-founder and COO, WorkIndia

“It has been observed that the blue-collar sector has progressed considerably in the year 2022. The sector has been more categorized with the help of advanced tech through extensive digitization and machine learning. It is noteworthy, that less than 15% of the workforce earns between Rs 20,000 and Rs 40,000 per month, indicating that the vast majority of the country’s population earns less than a livable wage. However, large corporations/MNCs are now taking steps to improve conditions for their blue-collar workforce. They are providing them with additional benefits such as health insurance, which were previously only available to white-collar workers.

Companies will continue to prioritize retaining talent, and many will choose to raise wages and benefits to do so. Employee health and its implications for businesses will extend beyond Covid to a potentially severe flu season in 2023. We all know that India has a large and vibrant young workforce that helps to build the country. When it comes to employee benefits and compensation, their demands differ from those of their predecessors. While companies are seeking agile tech solutions for the efficient management of the sector, hiring in blue-collar segment has been very muddled and disorganized. As India strives to become a $5 trillion economy by 2025, the demand for the blue-collar sector is expanding. However, we can say supply chain disruptions will continue to impact blue-collar industries and require the attention of employers.”

Paytm Payments Bank partners with Nexus Malls and Secure Parking to empower users to digitally pay at parkings with FASTag

India’s homegrown Paytm Payments Bank Limited (PPBL), today announced that it has partnered with Nexus Malls, one of India’s largest real estate retail platforms, to facilitate convenient payments for car parking at their malls using FASTag. With this, users visiting the mall won’t have to wait in long queues at the parking lot, and can just pay digitally with FASTag.

The bank has enabled digital parking at multiple popular malls across the Nexus Malls portfolio under the Nexus group across the country — Nexus Forum Shantiniketan, Nexus Whitefield, Nexus Koramangala in Bengaluru, Nexus Seawoods in Mumbai, Nexus Indore Central, Treasure Island Mall in Indore, Nexus Amritsar, and Nexus Ahmedabad One. The bank is also in discussion with various stakeholders to implement similar digital payment solutions for parking areas at hospitals, airports, and various municipal corporations across several states in India.

The partnership leverages the superior expertise of Secure Parking in providing world-class parking management systems globally along with Paytm Payments Bank’s leading position and reaches as a FASTag issuer and acquirer and the vast number of consumers visiting Nexus malls across the country. The integration is being done by Secure Parking, which is a leading car parking solution provider and operator in India and manages over 200 properties, mainly leading malls, office buildings, airports, five-star hotels, exhibition centers, and public car parks.

Celebrate New year with Rangriti’s latest Collection

Festivities and happiness are around the corner from the onset of the new year. Everyone is set for celebrating the occasion together by singing and dancing. and also going on holiday. Opt for Ragriti’s latest collection to present your loved ones with special and affectionate new year Gifts. This collection is inclusive of distinguished, warm yet innovative colors that make your wardrobe shine like stars.

The team of Ragriti stresses the collection being magnificent, charming, and alluring with its unique designs and looks. Each piece has intricate motifs and designs that are comfortable to wear. The outfits lend an opulent and luxurious appearance making them a must-have for any wardrobe. This New year, Rangriti is launching a special collection. A perfect choice for gifting and self-use makes your presence in the gathering more special. Rangriti offers a variety of categories to satisfy your taste accordingly. One can find indie tops, kurtas, palazzos, slim-fit pants, dresses, jackets, coats, woolen suit sets, and many more.

Siddharth Bindra MD Rangriti says “A woman whose wardrobe is full of clothes is still not satisfied with them. They desire to have numerous outfits for various events and gatherings. So gift her colorful surprises this new year with Rangriti’s collection. Rangriti offers chic ensembles for various celebrations and this new year the collection is something every customer will want in their wardrobe.”

How India is faring on the journey to achieve semiconductor supremacy

Vital components in the manufacturing of several modern, tech-enabled products, semiconductors are a crucial component in the manufacturing sector. However, their production is limited to only a few countries across the globe owing to the exorbitant costs involved. The global events that unfolded in the recent past, such as the pandemic and the Russia-Ukraine war, have disrupted the supply chains, causing a shortage of semiconductors and reiterating their importance of them.

For India, the manufacturing sector is a major contributor to the economy. Within the country’s manufacturing sector, there are several industries that rely heavily on semiconductors chips. This has in turn pushed countries around the world into a race to establish a strong foothold in the manufacturing of these vital components with an enormous scope of usage. The geopolitical situation in Taiwan, the nation producing 92% of sub-10 nanometer semiconductors, remains uncertain, adding to the criticality of the scenario. Taking stock of the situation, India is steadily working towards decreasing its dependence on global supply chains and becoming a global manufacturing hub for these semiconductors.

In 2021, the Indian semiconductor market was valued at $27 billion, with projections of a healthy CAGR of 16% from 2019 to reach $64 billion in 2026, representing 22% of the total end-equipment revenues. In addition to this, there is a potential opportunity for India to serve up to $85 billion to $100 billion of the $550 billion to $600 billion annual global opportunities by 2030. This is nearly 17% of the global market requirement. The figures clearly reflect the enormous potential that India holds to become a significant supplier to the global semiconductor manufacturing supply chain across the semiconductor equipment ecosystem, aided by the rollout of 5G in the country.

India has been making positive strides with respect to the development of its semiconductor industry. The government has created several policies to provide the much-needed impetus to the country’s domestic semiconductor ecosystem. In December 2021, the government released the Semiconductor Fab Ecosystem Programme, covering all aspects of the supply chain. Recently, in September 2022, the government further modified the program to harmonise government incentives for all technology nodes of semiconductors by providing uniform 50% financial support for all nodes, along with 50% of capital expenditure for other steps of the process as well, including chip design and ATMP.

In light of the government-backed schemes to promote semiconductor manufacturing in the country, the sector is up for a period of growth. “Hon’ble Prime Minister has spoken clearly on Reform-Perform and Transform. The year 2022 was a year of policy reform with 2023 promising to be a harbinger of consolidation and setting up of manufacturing facilities. The current year has seen some path-breaking policy measures and a much-required focus in this domain. PLI and DLI schemes have attracted many global semiconductor players for setting up fabs in India and the well-thought policies will expedite these investments and bring in global giants and expertise,” said Anurag Awasthi, Vice President, of India Electronics and Semiconductor Association.

He added, “The current policy initiatives will propel innovation and in turn, build domestic capacities within the next three years to cater to existing demand. It will also create highly skilled employment opportunities to harness the demographic dividend of the country with a large number of steps being taken by the government, industry, and academia alike. Semiconductors and displays possess multi-sectoral applicability and are of strategic importance while being the key to the security of the critical information infrastructure of India. It will have a multiplier effect across different sectors of the economy with deeper integration into the global value chain. 2023 will be a year to perform with the next three years to transform manufacturing of this niche’ technology with geopolitical ramifications.”

However, there lie some roadblocks in India’s journey to achieve semiconductor supremacy. Despite an enormous demand for semiconductors in the country, the manufacturing of these components is still at a nascent stage. The semiconductor space in India is completely dependent on imports right now, which is why the government is providing great impetus for increasing the indigenous manufacturing capacity. Last year, only 9% of India’s semiconductor requirements were sourced locally. While there still is a lot that needs to be done to make India self-reliant in terms of addressing its semiconductor demands, the government’s ‘Make in India’ and product-linked incentive (PLI) policies for semiconductors are expected to change the current course, driving local sourcing further, which can help local procurement grow by over 17% by 2026.

ETO Motors redefines last mile connectivity by empowering Women drivers in New Delhi

New Delhi, December 2022: ETO Motors, India’s leading EMaaS (Electric Mobility as a Service) Company with its unique 360-degree Electric Mobility business model, is launching last Mile services with Women Driver Partners from Azadpur Metro Station to enhance the first and last mile experience of metro commuters in Delhi. ETO’s EV charging solution – Thunderbox, will be installed across Delhi at various Metro Stations, Residential Societies, Public/Semi-Public Malls, etc. This will help all the women have easy access to the charging points for e2W and e3W addressing driver’s range anxiety.
In the coming two months, ETO Motors will be adding 100 more e-autos on the Delhi roads, and more Parking & Charging Hubs will be developed at Kalka Ji, Uttam Nagar, Dwarka, and Majlis Park metro stations.

The Government is making huge investments in the electric mobility shift stimulating the markets of EVs in the country. By 2030 the government plans to have EV sales penetration of 40% for buses, 30% for private cars, 70% for commercial vehicles, and 80% for two- and three-wheelers. E-mobility strives for a welcoming and equitable environment by supporting the presence, ideas, and contributions of a diverse set of people.

ETO Motors thrives on its 3E principles of Environment, Employment & Empowerment. Where women power takes the driver’s seat, offering a service focusing largely on the deployment of clean mobility services that are sustainable. This concept is a testament to ETO’s support for women’s empowerment, gender parity, and vibrant communities.
To mobilize and train women driver partners, ETO Motors has partnered with the Transport Department of Delhi, GMR Varalakshmi Foundation, School of Driving & Training Institute, Burari (DTI), Institute of Driving and Traffic Research (IDTR), Sarai Kale Khan and MOWO social initiatives.

ETO MOTORS also runs a substantial cargo fleet providing last-mile delivery services for multiple e-commerce companies and under the Single Window, Delhi EV policy ETO MOTORS is in the process of setting up 5000 charge point stations across Delhi over a period of 12 months.

At the launch of the LMC service, Mr. Pavan Chavali, Managing Director, ETO Motors said, “Diversity has always been one of the key pillars for ETO Motors right since inception. Our commitment to empowering women driver partners is unique, and their participation in ETO’s mobility initiative resonates with our values and culture. As part of our commitment towards greater gender diversity, ETO Motors has successfully trained 100 young unemployed women to drive electric autos in the 100% EV city of Kevadia (Ekta Nagar) in Gujarat and now we are going to deploy 300 electric autos at Metro Stations in Delhi in collaboration with DMRC in a phased manner, all driven by women driver-partners to provide much required first and last mile connectivity services to metro commuters in the capital. We aim at building a sustainable and equitable eco-system by preserving the environment,

creating employment opportunities, and empowering diverse groups of stakeholders through our 360-degree solutions for EV adoption in India.”
Highlighting LMC, Mr. Anuj Dayal, Principal Executive Director, Corporate Communications, DMRC said, “The introduction of these e-autos will improvise the last mile connectivity for passengers of nearby localities. In recent years, DMRC has introduced many eco-friendly initiatives to ensure a robust last-mile connectivity system, which enables the commuters to prefer non-polluting public transport modes over personal vehicles.”

As part of this initiative, ETO Motors will be deploying its Trilux 1.0 L5 category passenger e-auto that runs on a 7.37 kWh capacity lithium-Ion battery that charges within 3-4 hours and runs at a maximum speed of 45 kmph. It can achieve a range of approximately 100 KM on a single charge. It boasts a unique topple-free design and comes with a built-in vehicle tracking system. It also has many industries first safety features like driver and passenger seat belts and a bucket seat for the driver.

5Elements LaunchesG-Wear -its Premium Sports Designed Smartwatch in India

New Delhi, 28 th December 2022:5Elements, an innovative Indian brand focused on delivering smart gadgets is gearing up to launch a new smartwatch under its premium G-WEAR+, rugged, sporty designed range. In this price range, the wearable is the first smartwatch in India to
support Google and IoS. It is also tipped to feature 1.32’’ high resolution TrueView IPS display with 360*360 Pixel Density.

5Elements G-WEAR+ Smart watch is equipped with a 380mAh long lasting battery with up to 10 days of usage time even with 24*7 Heart Rate Monitoring. The smartwatch is more customer-friendly for Indians by having access to both Hindi and English language.

It has 750nits peak brightness with high refresh rate display, too (showing motion on the watch) The new G-WEAR+ Smart watch can also be used to track sleep monitor, pedometer, Menstrual cycle and other standard features like Alarm clock, weather, and social media notification. It has in 3 colour variants– Black, Silver and Blue. It has most efficient Realtek 8762DT processor in the segment.

Commenting on the launch Devansh Shah, Co-Founder, 5Elements”We are excited to introduce G-WEAR+ smart watch with which consumer can have True Phone Free Experience with accessibility to summon Google Assist or Siri from their wrist and command any actions. We, at 5Elements, strive to deliver gadgets that are uniquely customized to satisfy our customers’ needs. We want to modernize smart watches by unleashing the boundless potential of technology”.

5 Elements G-Wear+ Unique features:
 Built in Games
 VC31 Super Accurate Dynamic Sensor
 750 Nit Peak Brightness
 High refresh rate
 Loudest and most clear BT Calls
 Hindi Language Support
 24*7 Heart rate Monitoring

This new product comes with a warranty of 12 months and is readily available for purchase from company’s official website www.5Elements.website

Spectacular New Year’s Eve at Shangri-La Bengaluru

Shangri-La Bengaluru is ushering in 2023 with spectacular New Year’s Eve celebration packages ranging from sky-high elevated events to celebratory buffet dinners to private dining experiences with a bespoke butler.

b-Café
Diners can say farewell to 2022 with a more traditional celebration at b Café with a holiday buffet full of seasonal favourites featuring food from around the globe, live counters, a sushi bar, American grills, traditional Arabic mezze, Indian & Asian selections, delicious dessert counters, a limitless selection of drinks and live entertainment priced at INR 6000 per person.

Shang Palace
Guests can put a Far Eastern twist with Shang Palace offering a themed menu including signatures such as dim sums, hot pot, barbecue specials, wok-specials, mains, staples, sweet yum cha, desserts with a selection of unlimited cocktails, priced at INR 6000 per person.

Level 18

Caprese, Yataii and Ssaffron with its panoramic views of the Garden City are ushering in 2023 with a celebratory Italian, Japanese and Indian feast delicious cocktails and Bollywood DJ Ajay Ghalke for INR 8000 per person.

HYPE
The countdown kicks off at HYPE with limitless Asian tapas, premium drinks, and DJ Raj Kabadi spinning the hits for a spectacular evening to remember for INR9000 per person.

Dine at dome

Guests can spend a romantic evening with their loved ones under the stars in a dream-like setting in a private dome with festive fare, limitless bubbly, and bespoke butler for INR 30,000 plus taxes for two.

A designated children’s area is set aside with fun activities, toys, babysitters and sleeping pods to have the little ones engaged, looked after and well-rested while families bring in the New Year at any of the venues.
New Year Staycation

Diners have the option of converting NYE to an elaborate staycation featuring an overnight stay at the hotel, celebrations at their choice of venue, and delicious breakfast at b Café the next day followed by an extended checkout. Starts at INR 20,999 plus taxes for double occupancy.

First Brunch of 2023

The first day sets the tone for the year. b Café is hosting the first brunch of the year on 1st of January featuring multi-international fare ranging from Arabic, European, Chinese, Thai and Indian food. Also, on offer, are sizzling live grills, carving stations, seafood on ice, gnocchi cart, oyster bar and sushi station. Guests can top off this delicious brunch with an option of zero-proof cocktails or champagne. A fun kids play area is designated to keep the little guests engaged.

Starts at INR 2999 plus taxes per person.

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