Archive: April 29, 2023

DPE Conducts Outreach Meeting at Nainital, Uttarakhand in Collaboration with NTPC

Mumbai, April  2023: Under the aegis of ‘Azadi Ka Amrit Mahotsav’ (AKAM) to celebrate 75 years of independence, an out-reach meeting on MoU Dashboard was held on 28th April 2023 at Nainital, Uttarakhand. The program was organised by the Department of Public Enterprises (DPE) Ministry of Finance, Government of India with NTPC as the industry partner of the event.

Shri Pawan Kumar, Principal Adviser, DPE, Ministry of Finance, GoI chaired the conference.

Senior officials from DPE, Ministry of Power, Ministry of Coal, Ministry of Civil Aviation, Department of Atomic Energy, Director (Finance) NTPC, Director (Finance) PGCIL, and Senior Executives of NTPC, PGCIL, NHPC, SJVN, NLC, NPCIL, Grid India & AAI attended the meeting.

Shri Jaikumar Srinivasan, Director (Finance), NTPC welcomed the delegates and in his address highlighted that NTPC is meeting around ~24% of India’s power requirement with just ~17% of the installed generation capacity of the country. He elaborated on NTPC’s plan to add 60 GW of renewable energy capacity by 2032 in line with the country’s aim for non-fossil energy capacity by 2030.

EaseMyTrip Partners with IIFA to Offer Customers an Exclusive Opportunity to Attend the Star-Studded Event

Mumbai, April 2023: EaseMyTrip.com, one of India’s largest travel tech platforms, has announced that it has become the official Travel Partner of IIFA yet again this year with an exciting offer for its users to attend the International Indian Film Academy (IIFA) Awards 2023 in Abu Dhabi. As the official travel partner for the event, EaseMyTrip is delighted to provide its customers with the opportunity to attend one of the biggest events in the Indian entertainment industry.

EaseMyTrip customers can now avail of a complimentary ticket to the IIFA Awards 2023 on booking air tickets to Abu Dhabi till 30th April 2023 using the coupon code ‘EMTIIFA’. This offer is valid for bookings made on the company’s website, mobile site, Android, or iOS app. To avail of the complimentary tickets, customers simply need to book flight tickets from Mumbai to Abu Dhabi using the coupon code EMTIIFA on EaseMyTrip’s user-friendly platforms, including the website, mobile site, Android, or iOS app.

Upon booking confirmation, EaseMyTrip will reach out to the customers, offering them a free IIFA Awards 2023 ticket for one day. To collect this coveted ticket, customers are requested to visit EaseMyTrip’s retail office located in Dubai. As a fun addition, customers will also be required to take a selfie in front of the retail office and share it on their social media handles.

Nishant Pitti, CEO & Co-Founder of EaseMyTrip said, “We are excited to introduce our incredible ‘Fly to IIFA’ offer, bringing together the magic of travel and the glamour of Bollywood. As a homegrown travel company, we understand the importance of cultural events and how they shape our lives. We are proud to be associated with IIFA and offer our customers an opportunity to witness the best of Indian cinema and culture. Creating unforgettable experiences for our customers is what we always strive for, and what better way to do that than by offering them a chance to attend the prestigious IIFA Awards? This exclusive offer allows our customers to immerse themselves in the world of entertainment, rubbing shoulders with their favorite stars and creating memories that will last a lifetime. At EaseMyTrip, we are committed to making dreams take flight, and ‘Fly to IIFA’ is just the beginning.”

Andre Timmins, Director & CO-Founder of IIFA said “Over the years the IIFA journey has led to huge tourism with anything between 15-25,000 visitors in the host destinations during the weekend with great economic impact as a result of the unique opportunity that IIFA presents of taking the Indian Film fraternity to the world and out to their fans. Post-hosting IIFA tourism has almost doubled in many places as a result of the showcase that the brand presents with tremendous brand marketing benefits. We are so pleased that now with the long-standing and continuing relationship we share with Ease My Trip as travel partners, we are able to increase and enhance this visitation with more people traveling from around the world to experience our brand in IIFA host cities & countries.

This is just the beginning and we look forward to great things in the future through this association”

Toyota Kirloskar Auto Parts Thanks Government of India For Issuing SOPs Relating to PLI Scheme for the Auto Sector

Bangalore, April 2023: Toyota Kirloskar Auto Parts (TKAP), welcomes the important announcement by the Ministry of Heavy Industries (MoHI) towards Standard Operating Procedures (SOPs) for the Auto Sector Production Linked Incentive (PLI) scheme. With this, companies can now submit applications for testing and certification of Advanced Automotive Technology (AAT) products enabling them to be considered for incentives under the PLI Auto scheme.

Toyota Kirloskar Auto Parts Private Limited (TKAP), established in 2002, is engaged in the manufacture and sale of automotive rear axles, propeller shafts, and transmission units. Recently, the company set up an advanced manufacturing facility to produce e-Drives which is a key part of electrified powertrain for supply to Toyota Kirloskar Motor Private Limited and for export to Japan and other Asian countries. Over the years, TKAP has grown rapidly to emerge as a significant manufacturer of Drive Train parts and assemblies (x-Ev Transmission) in the Toyota group.

Aligned with Toyota’s commitment towards achieving ‘Mass electrification’ with ‘Make in India’ not only for India but also exports, the group recently invested INR 4,100 crores involving Toyota Kirloskar Motor (TKM) and Toyota Kirloskar Auto Parts (TKAP) which includes investment towards setting up of the new e-Drive (electrified component) manufacturing line in Bidadi near Bengaluru. The new facility, the first in Asia outside of Japan, has an annual installed capacity of 135,000 units making it the best-case point for India’s emergence as a global manufacturing hub which is of strategic importance.

Acknowledging Government’s dynamic approach in promoting localization through well-thought-out PLI schemes, K N Prasad, Managing Director, Toyota Kirloskar Auto Parts, said, “We thank the Government of India for the announcement of SOPs for the Auto Sector PLI scheme. The SOPs released from MOHI, consist of simplified procedures with minimum paperwork as a standing testimony from MOHI to realize “Ease of doing business”. This definitely reduces the burden on the applicant and helps to speed up the overall process of application and approval process.

At present, most of the advanced automotive technology components are being imported because of a non-existent supply chain base. One of the key factors to getting incentives under this PLI scheme is minimum domestic value addition criteria, and this will encourage more localisation and will boost the domestic manufacturing sector, and reduce dependence on imports, thereby creating more job opportunities. It would also contribute to the overall economic growth of the nation and enhance export capabilities.

TKAP is extremely proud to contribute to the localization of advanced technology in the Indian Automotive Sector. Our recent investments in TKAP have helped in creating job opportunities and contributing to the development of the local community.”

Commenting on making India a global hub for electrification, Mr. Vikram Gulati, Country Head and Executive Vice President of Toyota Kirloskar Motor, said, “We strongly believe that India is well positioned to play an important role in contributing to the growing global shift towards electrification. Given the capability of the Indian auto industry and the strong continued Government support, we are well on the way to making visible progress in establishing India as a critical manufacturing hub of advanced, clean, green, and efficient vehicles along their parts, at competitive prices. Schemes like the Production Linked Incentive (PLI) are playing a vital role in attracting investments in advanced and greener technologies.”

VitrA Bathrooms Introduces Water Jewels Washbasins – A Harmonious Blend of Colour and Form for your Bathroom

VitrA Bathrooms, a leading brand in premium bathroom fittings and sanitaryware brand, is delighted to reveal their latest collaboration with the world-renowned designer Matteo Thun, unveiling the Water Jewels washbasins collection. Meticulously crafted by Matteo Thun’s renowned Milan-based studio, celebrated for its visionary creations and multi-award-winning designs, this exquisite collection is a captivating fusion of alluring colours and mesmerizing shapes that redefine the epitome of bathroom luxury.

VitrA Water Jewels is the epitome of luxury, with unparalleled quality and stunning aesthetics. Its soft, elegant lines and sophisticated style perfectly complement the world’s most prestigious households. It offers a truly exceptional experience for those with a taste for the exotic. The inclusion of metallic finish basins, exudes a sense of drama and endless originality that is sure to appeal to discerning homeowners.

The VitrA Water Jewels washbasins collection is a celebration of colours that reflect the essence of elegance and sophistication. The washbasins come in a palette of enchanting hues including pure white, sleek black, rich copper, opulent gold, and lustrous platinum. Each colour is carefully curated to evoke a sense of refined beauty and timeless luxury, allowing homeowners to customize their bathroom spaces with unparalleled style and grace.

In addition to their stunning colours, the VitrA Water Jewels washbasins collection boasts a range of shapes that are a true works of art. The Water Jewels washbasins are not just visually stunning but also built to last. Made from high-quality materials, these washbasins are not only durable but also easy to clean and maintain, ensuring they remain in pristine condition for years to come. With their seamless blend of beauty and functionality, the VitrA Water Jewels washbasins elevate the bathroom experience to new heights, making them a true indulgence for discerning homeowners who appreciate the finer things in life.

Godrej & Boyce launches India’s first-ever Safety App ‘i-Report’ for Material Handling Operations in India

Bangalore,  April 2023: Godrej & Boyce, the flagship company of the Godrej Group, announced that its business Godrej RenTRUST, India’s largest warehouse rental equipment player, has launched an innovative safety solution, the i-Report app, to enhance safety in material handling operations in India. This is India’s first-ever safety application for material handling operations. The app will help reduce the gap in the industry’s safety policies and standards by offering a 360-degree safety solution through remote and real-time incident reporting, audit, training, and consultation to their customers and business partners. The Safety App will be available in over 200 locations across 22 states and will be manned 24 X 7, by 1000+ trained operators.

Mr. Anil Lingayat, Executive VP & Business Head, of Godrej Material Handling, stated, “We firmly believe that safety and customer-centricity form the bedrock of any successful business. Unrecorded incidents on the shop floor have been a concern for the industry. This is now set to change as all stakeholders will be able to proactively identify hazards and eliminate them. With the advent of this innovative application, Godrej RenTRUST is poised to set a new standard for safety initiatives in the Indian material handling industry, and further promote the culture of safety across manufacturing facilities and warehouse premises, suitably enabled with technology.”

Godrej RenTRUST has over the last 3 years, invested heavily in innovation, digitization, and technology. A significant share of this investment has been to promote safety at warehouses and manufacturing facilities. India has a booming warehouse market. The last couple of years has especially witnessed, a surging demand for well-equipped, modern warehouses that prioritize safety which is essential for a more productive workforce. Injuries incurred in warehouse operations can pose grave risks to the well-being of staff, while also disrupting workflow and incurring significant expenses.

Presently, there are no digital record-keeping mechanisms or safety protocols in place in Indian warehouses, leading to preventable accidents. The introduction of the ‘i-Report’ Safety App marks a vital step in bridging this gap, enabling hazard identification and the provision of safety guidelines to mitigate accidents on the shop floor and in warehouses.

The state-of-the-art app was officially launched on the occasion of the 33rd Safety Foundation Day celebrated at Godrej & Boyce on 12th April 2023

With this app, all sites, crew, and customer representatives can easily log safety hazards, while a team of three dedicated safety supervisors will monitor the app. The process will only be closed once the safety officer of Godrej & Boyce confirms that the steps taken to close the hazard are safe and sustainable to prevent any such occurrence in the future.

The development of ‘i-Report,’ reflects the company’s unwavering commitment to promoting safety and customer-centricity for this growing sector.

IOL Chemicals and Pharmaceuticals reports strong Q4FY23 results

April 2023, Ludhiana: IOL Chemicals and Pharmaceuticals Ltd, a leading manufacturer of pharmaceutical APIs and speciality chemicals, announced its financial results for the fourth quarter and fiscal year ended March 31, 2023.

Q4 FY23 Financial Highlights

· Total income for Q4 FY23 stood at Rs. 596 crore as against Rs. 530 crore in Q3 and Rs.579 crore YoY

· EBITDA for Q4 FY23 at Rs. 104 crore as compared to Rs. 50 crore in Q3 and Rs. 50 crore YoY

· Net profit for Q4 FY23 at Rs. 65 crore as compared to Rs. 24 crore in Q3 FY23 and Rs. 28 crore YoY

FY23 Financial Highlights

· Total income for FY23 stood at Rs. 2,243 crore as compared to Rs. 2,216 crore in FY22

· EBITDA for FY23 at Rs. 252 crore as compared to Rs. 288 crore in FY22

· Net profit for FY23 at Rs. 140 crore as compared to Rs. 166 crore in FY22

Q4FY23 Financial Highlights

Commenting on the performance, Mr. Vikas Gupta, Joint Managing Director said, “The last quarter of the financial year has come out strong for us as we stabilized our operations in pharma and specialty chemicals segments with a focus on cost rationalisation and margin improvement. With significant operational, technical and commercial efficiencies, improved market combination and expecting sustainable demand as an alternative to China, we believe we are on a good upward trajectory

Registration for Federal Integrated Program (FIP) by Federal Bank closes on 30th April

April 2023: Registrations for Federal Bank’s sought-after Federal Integrated Program (FIP) for Financial Crime Compliance Specialists close on 30th April 2023. The FIP is a unique program designed in partnership with Manipal Global Education Services that offers a work and study program. Over the course of two years, it will provide a comprehensive learning experience that combines Fixed-Term Employment with a blended approach to learning, incorporating both classroom and virtual sessions.

The program has a duration of 24 Months and candidates shortlisted for the program will undergo intensive classroom training as well as on-the-job training at the Federal Bank. During the program period, candidates will earn up to Rs 4.5 Lakh in the first year and up to Rs 5.7 Lakh in the second year. Upon successful completion of the program, participants would be awarded a Post Graduate Diploma in Risk & Compliance and will be considered for the Officer role subject to obtaining continuous top 2 Performance Grades in every quarter during the program period.

FIP is open to candidates who have a consistent academic record of a minimum of 60% from the 10th standard till graduation or post-graduation (as applicable). Candidates shall not exceed 27 years of age as of 1st April 2023 and candidates belonging to SC / ST category are entitled to 5 years of relaxation in the upper age limit.

Tech-enabled platforms in India that are upscaling professionals across different sectors

The digital revolution has transformed the education industry, and tech-enabled platforms have emerged as a game-changer in upskilling and reskilling professionals across different sectors in India. These platforms offer learners access to quality education, flexible learning options, personalized feedback, and industry-relevant curriculum.

Accreda: Accreda (a Keybridge Global Education venture) is a personalized career-building platform that ensures learners are always employable and job-ready. Keybridge Global Education (Keybridge) is a new-age edtech company that is focused on enhancing employability outcomes. Accreda is Keybridge Global Education’s initiative to bridge the gap between current academic career preparation and the on-the-job skills required for a productive and agile workforce.

ITLH: Information Technology Learning Hub (ITLH), an initiative of an IT firm ‘Centillion-a division of Amexs Business Solutions Pvt LTD’, is started with the intent of helping students improve their coding skills and knowledge through real-life practical experience. ITLH has pledged to redefine the professional skill development of youth by giving them an opportunity for experiential learning and imparting them with practical knowledge. Learning and growth are being redefined and students are looking for solutions that are of quality

Coursera: Coursera is a global online learning platform that partners with top universities and institutions to offer courses and programs in fields like business, computer science, data science, and more. Coursera provides affordable access to high-quality education and offers various certification options to learners.

Udacity: Udacity is an online education platform that focuses on tech-related courses and programs in areas like programming, data science, artificial intelligence, autonomous systems, and more. Udacity offers project-based learning, industry-relevant curriculum, and personalized feedback to learners.

In conclusion, the rise of tech-enabled platforms in India has transformed the education industry and has opened up new opportunities for professionals to upskill and advance their careers. With the growing demand for digital skills and the need for continuous learning, these platforms have become essential for professionals to stay competitive and thrive in the fast-changing job market.