Archive: April 1, 2023

Views by Nisschal Jaain, Founder and CEO, Shypmax on Foreign Trade Policy

Nisschal Jaain, Founder and CEO, Shypmax.

“Amid the interim slowdown in the otherwise booming global trade especially with regards to the Indian Exim landscape, the Foreign Trade Policy (FTP) 2023 provides the right impetus to EXIM, e-commerce, as well as logistics stakeholders to boost exports. The new policy entails the roadmap to take India’s goods and services exports to $2 trillion by 2030. The move to focus on emerging areas like e-commerce and export hubs while promoting ease of doing business through collaboration with exporters, states, districts, and Indian Missions, is commendable. The decision to increase the value limit for exports through courier services from INR 5 lakh to INR 10 lakh per consignment, provides a much-needed boost to the logistics sector. With this, e-commerce exports are expected to grow to USD 200-300 billion by 2030.

By minimising the export license fees from around 100,000 to 5,000, MSMEs have been given their due share of relief. This will also expand the horizons of the export market in India and make India a far more competitive ecosystem. Another factor that strengthens India’s footing in the global market is the internationalisation of the rupee which comes off as very beneficial for exporters. Their dependency on dollar pricing will start to decline. Additionally, 4 new towns of excellence along with 39 existing towns will focus on exports of handicrafts, and handlooms supporting small-scale artisans.

All in all, when these orders come into effect, logistics stakeholders including logistics players will witness a competitive environment in terms of export orders, trade, and employment opportunities. This has to be the FTP of Amrit Kaal due to its focus on small and new-age businesses (e-commerce).”

The Tribe Concepts Launches All-Natural Anti-Pigmentation Kit for Radiant Skin

Delhi, April 2023: The Tribe Concepts, India’s first plant-based ayurvedic skin & hair care brand, launches the Anti-Pigmentation Kit. The kit includes Anti-Pigmentation and Toning Mask, and Anti-Pigmentation Raktha Chandanadi Thailam. The Anti-Pigmentation kit’s Ayurvedic herb-enriched formula works generously on stubborn blemishes & scars, leaving much healthier-looking skin.

The Anti-Pigmentation And Toning Mask is designed to reduce hyperpigmentation and even out skin tone, leaving the skin looking brighter and more youthful. Anti-Pigmentation Raktha Chandanadi Thailam helps in reducing stretch marks, uneven skin tone, darkening of elbows & knees, pregnancy pigmentation, and melasma and sun spots.

“We are excited to add the Anti-Pigmentation kit to our skincare line,” said Amritha Gaddam, Founder and CEO The Tribe Concepts. “Our mission has always been to create products that are gentle on the skin and free from harsh chemicals. This kit is a natural extension of our commitment to providing our customers with the best possible skincare products.”

The Anti-Pigmentation and Toning Kit is made with all-natural ingredients, including Red Sandalwood, Nutmeg, and Arjuna Bark, which has been shown to inhibit the production of melanin, the pigment responsible for dark spots and uneven skin tone. Nutmeg tightens pores. Sandalwood, on the other hand, helps soothe and hydrate the skin, leaving it soft and supple. Anti-Pigmentation Raktha Chandanadi Thailam comes with the goodness of White Sesame Seed Oil, Coconut Oil, Red Sandalwood, Arjuna Bark, Nutmeg, Manjista, Neem, Wild Turmeric.

Thus, The Anti-Pigmentation kit is the all nature inspired kit, which is ideal to use for all skin types to give clear and effortless glowing skin. It is available for purchase now on the Tribe Concepts website and selected retailers. As with all Tribe Concepts products, this mask is cruelty-free and vegan.

Valedictory Function of Induction Training for Indian Information Service Officers (Group A) 2018, 2019 & 2020 batch held at IIMC

New Delhi: “Information is the power. In today’s digital age, merely 280 words or characters have the power to influence a staggering 8 billion population worldwide. Such is the unfathomable reach of a single tweet or a digital post in our interconnected World said Shri Anurag Singh Thakur, Hon’ble Union Minister, Ministry of Information and Broadcasting, Youth Affairs & Sports, Government of India during the Valedictory Function of Indian Information Service Group ‘A’ Officer Trainees (Batches: 2018, 2019 & 2020) today at Indian Institute of Mass Communication, New Delhi.

On the occasion Principal Director General, Press Information Bureau, Shri Rajesh Malhotra, Joint Secretary, Ministry of Information and Broadcasting, Shri Sanjeev Shankar, Director General, Indian Institute of Mass Communication, Prof. Sanjay Dwivedi, ADG, Shri Ashish Goyal and faculty members were also present.

Sensitizing the Officer Trainees on the rapid growth of Electronic and Social Media, Shri Thakur said that as we move from 5G to 6G which will be your era, we have to understand the emerging pattern of quest for information and consumption of information. Adding to it he said that Fake news is the most dangerous virus in the world and you all will be known as the front line information disseminator so always stay alert and pass on the authentic information.

Addressing the IIS Officers, Shri Thakur said that you will not be just communicating information, you will be adding value to information. To ensure it is not lost in the cacophony of 24*7 media, presenting information in a manner to make it sufficiently attractive for media to use it prominently. He reminded the young officers of the need to be tech-savvy and to keep pace with the rapidly changing information and communication scenario. The challenge is to respond swiftly and firmly on a real-time basis.

A total of 52 Indian Information Service Group ‘A’ Officer Trainees (Batches: 2018, 2019 & 2020) successfully completed their two years Induction Training at the Indian Institute of Mass Communication. IIMC, the premier mass communication institute in the country is the training academy for the Indian Information Service Officers, who are recruited through the UPSC Combined Civil Services Examination. It also conducts a number of short courses in communication for various government organizations, armed forces, PSUs and civil society organizations.

Announcement of New Foreign Trade Policy 2023 | Bizongo

Amid the ongoing global economic slowdown, the new foreign trade policy will boost the Make In India initiative by making our country’s trade more competitive.

Additionally, the outlined focus on export promotion through collaboration with exporters, states, and districts would further open up global markets for small Indian businesses to scale, thus changing the fate of Made in India products and creating a more substantial base for MSMEs. The new foreign trade policy represents a humongous growth opportunity for businesses in India to aspire and tap into rising e-commerce markets, manufacture on demand, and plug themselves into global supply chains to create stronger export businesses.

The New Foreign Trade Policy will be another stepping stone toward Digital India, resulting in a defining decade for merchandise exports from our country. The newly introduced policy is also dynamic and responsive to the ever-changing Indian trade scenario that will continue to update as and when necessary. “

Sachin Agrawal, Co-founder, and CEO, Bizongo

BLive partners with Chartered Bike Pvt Ltd (CBPL) in a multi-hundred crore deal

New Delhi, Aprist 1st, 2023: BLive, India’s fastest growing multi-brand electric vehicle platform, has teamed up with Chartered Bike Pvt Ltd (CBPL) – India’s leading provider of electric mobility solutions, specialising in public bike sharing, in-campus mobility, e-commerce delivery, and last-mile delivery services. As per the MoU signed between BLive and CBPL, the collaboration will target nationwide deployment of 10,000 2-wheeler EVs and 1000 3-wheeler EVs over the next 3 years. The total MoU is worth approximately INR 120 Cr with estimated deployment in three phases – INR 30 Cr in the first year, INR 40 Cr in second, and INR 50 Cr in the third year.

The partnership between BLive and CBPL is aimed at helping last-mile delivery companies, such as Zomato, Swiggy, Amazon, Flipkart, Delhivery, Porter and many more, to resolve the supply gap of electric vehicles in the market. The MoU between BLive and CBPL will resolve this issue by helping these organisations deploy vehicles nationwide, with a focus on Tier II cities.

Chartered Bike Pvt Ltd is a leading provider of electric mobility solutions, specialising in public bike sharing, in-campus mobility, e-commerce delivery, and last-mile delivery services. CBPL is committed to delivering sustainable transportation options that are both cost-effective and environmentally friendly. CBPL’s public bike sharing programme offers convenient, affordable, and healthy transportation options to commuters and city-dwellers alike. Thanks to CBPL’s fleet of state-of-the-art electric bicycles, riders can easily navigate the urban landscape, while reducing their carbon footprint. In addition to public bike sharing, CBPL also offers in-campus mobility solutions that help students, faculty, and staff move around their campuses efficiently and sustainably. Their electric vehicles are perfect for short trips between buildings, or for running errands around campus.

Speaking about the collaboration, Samarth Kholkar, CEO & Co-Founder, BLive, said “We are excited to partner with Chartered Bike Pvt Ltd to further our cause for greater adoption of EVs in the country. With a focus on electric vehicles for their delivery fleet, last-mile delivery service providers have been a major accelerator of India’s electric mobility revolution. The use of electric vehicles will significantly reduce the cost of operation and energy expenses. The lower operating costs, simple mechanism and low maintenance make EVs a winning proposition for the last-mile delivery service providers.”

Commenting on the partnership, Param Mandloi, Co-Founder of CBPL said, “Our e-commerce and last-mile delivery services are designed to meet the needs of modern consumers who demand fast, reliable, and eco-friendly delivery options. Our electric delivery vehicles make it easy for businesses to meet their customers’ needs while minimising their impact on the environment. In Blive, we have an able partner to drive this mission forward while making mobility cleaner and greener.”

CBPL’s proven expertise in operations and managing after-sales-service, coupled with its strong presence across 15 cities, especially Tier II cities, helps CBPL manage its operations efficiently. As part of the deal, CBPL will be responsible to ensure the same on-ground post the deployment of EVs. Blive – as one of the largest and growing electric EV platforms in the country – will add value through marketing activities and provide end-to-end tech solutions to help the deployment of EVs while parallelly driving high return on investment for its partner – Chartered Bike Private Limited.

Air India Launches Premium Economy Class on Select Flights

Bangalore, April 1, 2023: Air India introduces an all-new Premium Economy experience for travellers, offering a superior cabin product, world-class inflight services, and added on-ground convenience. The airline has opened sale for the new cabin, for travel starting May 15, 2023, becoming the first and only Indian carrier to offer the choice of four cabin classes – First, Business, Premium Economy, and Economy.

Air India’s Premium Economy class will be initially available to customers travelling on select routes operated by its fleet of Boeing 777-200LR aircraft: Bengaluru-San Francisco, Mumbai-San Francisco, and Mumbai-New York.

Mr. Campbell Wilson, CEO & MD, Air India, said: “The popularity of Premium Economy has grown among travellers around the world, as people are increasingly opting for upgraded, yet affordable flying experiences. We are delighted to introduce a distinctive Premium Economy experience for our customers on select flights for now, with a plan to extend it to many more routes soon, as we rapidly expand and modernise our fleet. This is another step forward in our sincere, ongoing effort to transform Air India into a modern, global carrier of world-class products and service standards.”

Air India’s Premium Economy offers an exclusive travel experience designed for customers who do not mind paying a reasonable premium over Economy Class fares to fly in style and enjoy a lot more space, comfort, and convenience.

Fast-track airport experience: Premium Economy customers will be able to check-in at dedicated counters and have priority tags affixed to their check-in baggage, and also be amongst the first to be invited to board the aircraft.

Separate, spacious cabin with wider seats: Premium Economy class on Air India’s Boeing 777-200LR aircraft features 48 leather-upholstered, memory foam seats that have 19 inches of width, 38 inches of pitch, and 5 inches of recline with adjustable leg rest and footrest, and winged headrests. The seats provide extra legroom for customers to stretch out during flight, enabling customers to rest or work in comfort.

Amenities: Premium Economy customers receive a complimentary, elegant TUMI amenity kit (specially designed for Air India) consisting of a pair of flight socks, an eye mask, MALIN+GOETZ lip moisturizer, and a pen, in addition to carpet slippers. Customers also receive noise-cancelling headphones for use during flight to complement the experience of Air India’s In-flight Entertainment (IFE) system.

Onboard dining: Customers will be welcomed on board Air India’s Premium Economy class with a welcome drink served on an elegant silver tray and a menu card reflecting a glimpse of a delectable culinary experience during the flight. On board, customers will be able to choose from a delicious selection of three meal choices for the main course, served on fine chinaware casserole, accompanied by an appetizer and dessert. The drinks menu includes a fine selection of alcoholic and non-alcoholic beverages.

Seats on the newly added Premium Economy class are now on sale on the Air India website, mobile apps, as well as through travel agents and other booking channels.

Views on new FTP 2023 by Gunjan Prabhakaran, Partner & Leader – Indirect Tax, BDO India

Gunjan Prabhakaran, Partner & Leader – Indirect Tax, BDO India

“The new Foreign Trade Policy, 2023 appears to be forward-looking and dynamic. The flexibility that it can be amended to address industry requirements is a testament to the fact that the Government realizes the need to keep evolving with the changing global requirements. A slew of measures have been announced, such as, no sunset of five years, the continuation of Advance Authorizations/ EPCG/ DFIA, reduction in fees for MSMEs, reduction in the threshold for star houses, merchandise trade for restricted goods, internationalization of trade in rupees, battery electric vehicle will be eligible for reduced obligation under EPCG, special Advance Authorization scheme for apparel and clothing sector, benefits and facilitation for the e-commerce sector, amnesty scheme for one-time settlement of default in export obligation by Advance Authorization and EPCG authorization holders, digitisation of applications under FTP, reduction in application fees for MSMEs, standardisation/ reduction of composition fees for extension of Advance Authorization. A thorough evaluation of the policy will be required to assess the benefits outlined in the policy.
Exporters engaged in the manufacture and export of proprietary products and not an AEO status holder would be much relieved with the extension of the “Self-ratification scheme for fixation of input-output norms” to 2-star and above status holders. Currently, the ratification of self-declared norms by authorities takes a long time which exposes the exporters to a risk of differential duty and interest or additional export obligation after importing inputs duty-free against Advance Authorisation as per self-declared norms.”

NTPC registers highest ever power generation of 400 BU in FY23, a growth of 10.80%

Mumbai: NTPC Ltd, India’s largest integrated power generator, has registered the highest-ever power generation of 400 BU in FY23, a growth of 10.80% via-a-vis previous year.

NTPC continues to demonstrate an upward trend in coal production from its captive mines with a coal production of 23.2 Million Metric Tonnes (MMT) with a robust growth of over 65% vis-à-vis the previous corresponding year.

NTPC has taken several steps to augment the coal production from its coalmines. The use of high-capacity dumpers as well as an increase in the existing fleet size of excavators has allowed the operational mines to increase production.

NTPC has set an ambitious goal of reaching half its installed capacity through RE by 2032, to serve the nation and support its decarbonisation goals. During the financial year, FY 23, the company registered a growth of 24.24% in a non-fossil portfolio.

NTPC Group installed capacity stands at 71594 MW.