Tag: MD & CEO

News

Bengaluru Retail Summit 2024: Unveiling the Future of Retail

Jul 26, 2024 by Mansi Praharaj 0 Comments #Bengaluru Retail Summit, #Bengaluru Retail Summit 2024, #bigbasket, #Brigade Group, #Britannia Industries Ltd, #Britannia Industries Ltd V Muhammad Ali - CEO, #BRS, #CEO, #CEO & Executive Director, #Co-founder & CEO, #Consulting Business Leader for Retail, #CPG, #Drolls India Pvt Ltd Chandru Kalro, #Easybuy, #Enabling Growth, #Enabling Growth” & “Mastering the Market: Transforming Insights into Growth Opportunities, #Ganesan V P, #Hari Menon, #Healux International Pvt. Ltd Deepak Singh - Director & CEO Saturo Technologies Sumit Jasoria, #i – TEK RFID Hari Menon - Co-founder & CEO - Big Basket Dr Shashank Sinha, #IBM, #Italian Colony David R Stanley – Founder & Managing Director, #Johnson Verghese - Managing Director - Fossil Group India Karan Mehta - CEO, #Jt Managing Director, #Karan Mehta, #Kumar Rajagopalan, #Landmark Group, #Landmark Group Rajneet Kohli - CEO & ED, #Managing Director, #MD & CEO, #NEWME, #Nirupa Shankar, #Pharma & LS Industries – India South Asia, #Prestige Group Manohar Chatlani - MD Retail India Pvt Ltd, #RAI, #Rajneet Kohli, #Retail, #Retail Sector, #Retail Technology: Powering Business, #Retailers Association of India (RAI), #Revolutionize Retail with AI Everywhere, #Sheraton Grand Bangalore, #Soch Apparels Pvt Ltd Subhash Chandra - MD Sangeetha Mobiles Mrunmay Mehta - CEO, #Strategies for Retail Success: Navigating a Constantly Evolving Market”, #Tech Adoption: Integrating Digital Innovations with Physical Presence, #thought leaders, #Transportation, #travel, #TTK Prestige Chintan Mehta – Founder, #WOW Skin Science Ashim Ashok Patel

Bengaluru, July 24th, 2024: The Retailers Association of India (RAI) successfully held the second edition of the Bengaluru Retail Summit, a premier event that brought together the brightest minds and influential leaders from the retail industry. Held at the Sheraton Grand Bangalore, the summit emerged as a melting pot of transformative ideas, emerging trends, and invaluable networking opportunities. Against the vibrant backdrop of Bengaluru’s retail culture, it served as a pivotal platform for retailers and brands to engage in impactful discussions, collectively shaping the future of retail in India.

Speaking about the summit, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “India’s retail sector stands at the cusp of profound transformation. The dynamic discussions on strategies for retail success, the seamless integration of digital innovations, and the latest retail ideas have highlighted how industry leaders are navigating this constantly evolving market. Our focus on mastering the market and innovating is diverse. With a burgeoning middle class, expanding digital infrastructure, and strategic government initiatives, we anticipate a dynamic era of growth and innovation. These advancements position the retail sector as a pivotal driver of economic vitality and consumer empowerment in the years ahead.”

Highlights of the Bengaluru Retail Summit 2024 by RAI was the keynote address on ‘Revolutionize Retail with AI Everywhere’ by Ganesan V P, Consulting Business Leader for Retail, CPG, Travel, Transportation, Pharma & LS Industries – India South Asia, IBM.

The summit also hosted two stimulating Fireside Chats with Rajneet Kohli, CEO & Executive Director, Britannia Industries Ltd, and with Nirupa Shankar, Jt Managing Director, Brigade Group.

Expressing delight at the second edition of BRS, Rajneet Kohli, CEO & Executive Director, Britannia Industries Ltd said, “The future of retail lies in seamlessly blending technology with the human touch. Using data-driven insights to understand consumer preferences and deliver tailored experiences will drive growth and foster deeper customer loyalty.”

Hari Menon, Co-Founder & CEO, Bigbasket said, “The retail industry is at a pivotal point where digital transformation is crucial. Integrating online and offline channels is essential to meet evolving consumer demands. Innovation in logistics and personalized services will be the key drivers of future retail success.”

Karan Mehta, CEO, Easybuy, Landmark Group said, “Understanding and responding to diverse customer needs is more important than ever. By harnessing advanced analytics and staying ahead of emerging trends, retailers can create personalized and engaging shopping experiences, ensuring sustained growth and competitiveness.”

The summit witnessed captivating discussions on topics such as “Strategies for Retail Success: Navigating a Constantly Evolving Market” “Tech Adoption: Integrating Digital Innovations with Physical Presence” “Retail Technology: Powering Business, Enabling Growth” & “Mastering the Market: Transforming Insights into Growth Opportunities.”

industry leaders speaking at the summit included:

Johnson Verghese – Managing Director – Fossil Group India

Karan Mehta – CEO, Landmark Group

Rajneet Kohli – CEO & ED, Britannia Industries Ltd

V Muhammad Ali – CEO, Retail, Prestige Group

Manohar Chatlani – MD Retail India Pvt Ltd, Soch Apparels Pvt Ltd

Subhash Chandra – MD Sangeetha Mobiles

Mrunmay Mehta – CEO, WOW Skin Science

Ashim Ashok Patel, MD & CEO, i – TEK RFID

Hari Menon – Co-founder & CEO – Big Basket

Dr Shashank Sinha, CEO, Drolls India Pvt Ltd

Chandru Kalro, Managing Director, TTK Prestige

Chintan Mehta – Founder, Italian Colony

David R Stanley – Founder & Managing Director, Healux International Pvt. Ltd

Deepak Singh – Director & CEO Saturo Technologies

Sumit Jasoria, Co-Founder & CEO, NEWME

These thought leaders shared their insights on the latest trends, challenges, and opportunities within the retail sector, fostering a rich environment of knowledge exchange and collaboration. The event’s successful execution has set a benchmark for industry gatherings, reaffirming Bengaluru’s status as a central hub for retail excellence.

About RAI:

Retailers Association of India (RAI) is the unified voice of Indian retailers. RAI works with all the stakeholders for creating the right environment for the growth of the modern retail industry in India. It is a strong advocate for retailing in India and works with all levels of government and stakeholders to support employment growth and career opportunities in retail, promote and sustain retail investments in communities from coast to coast, and enhance consumer choice and industry competitiveness.

Business

Experion Technologies Partners with ESG Playbook to Redefine ESG Reporting

Jun 11, 2024 by Sujata Muguda 0 Comments #A global leader in pr, #Binu Jacob, #ESG, #ESG Playbook to Redefine ESG Reporting, #Experion Technologies, #MD & CEO, #oduct engineering services ESG Playbook, #Sonia Zugel

11 June 2024, India — Experion Technologies, a global leader in product engineering services and digital transformation with over 17 years of industry experience, proudly announces a partnership with ESG Playbook, a leading player in ESG reporting with the most comprehensive platform in the industry. Recognizing the escalating significance of Environmental, Social, and Governance (ESG) reporting, this collaboration aims to provide comprehensive and cutting-edge solutions to address the evolving landscape of sustainability, risk management, and regulatory compliance.

Experion Technologies alliance with ESG Playbook

ESG reporting on a global scale is crucial, with over 95% of the world’s largest companies now publishing sustainability reports. This trend reflects a growing recognition of the financial impact of environmental, social, and governance factors, influencing investment decisions and corporate compliance toward more sustainable practices. According to a report by Morgan Stanley, in the first half of 2023 alone, sustainable funds attracted cumulative inflows of $57 billion, with almost all flows in Europe. That brought assets under management to more than $3.1 trillion—or almost 8% of total global AUM—by the end of June 2023.

In this strategic partnership, Experion Technologies will leverage its product engineering expertise, consulting services, integration, testing, and UI/UX capabilities to assist enterprises in navigating the complexities of ESG reporting. As a trusted partner to over 500 global customers across 37 countries, Experion remains committed to driving meaningful value, innovation, and shared success through digitally driven programs. This partnership between Experion Technologies and ESG Playbook not only streamlines ESG reporting but also ensures businesses stay ahead in embracing sustainability. By marrying their product engineering strengths with a comprehensive platform, Experion is simplifying the path for companies to demonstrate their commitment to responsible and ethical practices, fostering a positive impact on both the environment and their bottom line.

“ESG Playbook is the most comprehensive reporting platform currently in the market as an end-to-end platform, where teams can collaborate by streamlining the data collection and reporting of global regulations. The platform collects data through APIs or other traditional forms of interfaces to report on all three areas as prescribed by regulators. In addition to having engineered the product for ESG Playbook, Experion offers the ability to bring Big Data onto the platform and incorporate AI to facilitate ESG compliance and reporting seamlessly,” said Binu Jacob, MD & CEO, Experion Technologies.

“We are delighted to embark on this strategic partnership with Experion Technologies – their in-depth product engineering knowledge, coupled with a profound understanding of our product’s functionalities, provides us with a distinctive edge in implementing solutions for our customers, bolstering our confidence in this collaboration. Furthermore, Experion’s recent investments in skilled professionals within this domain solidify them as the ideal partner for us and a premier service provider for our valued customers,” said Sonia Zugel, CEO and Founder of ESG Playbook.

Stringent regulatory frameworks like the EU Taxonomy Regulation and the Non-Financial Reporting Directive in Europe accentuate the criticality of ESG reporting. A recent study by McKinsey revealed that about 85 percent of the chief investment officers they surveyed stated that ESG was an important factor in their investment decisions, showcasing the integral role of ESG factors in the decision-making process. Additionally, a study by MSCI underscores the positive correlation between high ESG ratings and lower credit risk, emphasizing the pivotal role of ESG in financial performance.

Financial services, consistently ranking in the top 2 spots for reporting on carbon footprint, face increasing pressure to improve reporting year-on-year, particularly for wealth and investment managers. Banks, reliant on good ESG ratings, find these crucial for attracting investments in an environment where over 80% of the world’s largest companies report on their ESG performance. ESG Playbook serves as a cornerstone solution, especially in the Banking and Financial Services sector, enabling clients to navigate the intricate web of global regulatory frameworks with unparalleled ease. By leveraging this platform, clients effortlessly uphold stringent compliance mandates, ensuring adherence to regulatory standards across diverse jurisdictions.

ESG Playbook stands as the most complete reporting solution across the Environmental, Social, and Governance pillars. The platform addresses the three pillars of reporting, including emissions from core business activities, indirect emissions, and those arising from energy and resource usage. A pain point of ESG reporting is understanding where the data is located, who is responsible for the data, and connecting systems to automate real-time reporting. Covering a spectrum of parameters within each pillar, ESG Playbook facilitates a holistic approach to ESG reporting, aligning institutions with global standards.

ESG Playbook revolutionizes sustainability reporting by seamlessly automating Data Collection, ensuring Data Consistency, and precise Calculation according to a spectrum of stringent regulatory standards such as TCFD, PCAF, GHG & CO2, NGFS, PRI, GRI, SASB, EU Taxonomy, CSRD, Net Zero Goals, and Bond Mapping. This sophisticated platform harmonizes data from diverse sources into bespoke reports tailored to specific needs, whether on a monthly, yearly, or granular basis, encompassing location, entity, or asset class parameters. Moreover, it offers a robust Audit Trail, instilling confidence in data integrity.

Central to its appeal is ESG Playbook’s unparalleled flexibility, empowering users to effortlessly maintain regulatory compliance across a myriad of standards, thereby facilitating seamless alignment with their respective national net zero agendas. By streamlining reporting processes, organizations can readily bolster their sustainability initiatives, making substantial contributions towards global sustainability objectives.

Business

Retail’s Brightest Minds Convene at Retail Leadership Summit 2024 to Forge Future Pathways

Mar 4, 2024 by Mansi Praharaj 0 Comments #Abhishek Bansal, #Amazon (US and India), #Amazon (US and India) and Vivek Somareddy, #ANAROCK, #Anujj Puri, #APAC International Stores, #Ashwin Khasgiwala, #Avjit Mitra, #Avnish Anand - CaratLane; Avnish Kumar, #Being Human Clothing; Sanjay Vakharia, #bigbasket, #bigbasket; Johnson Verghese, #Bijou Kurien, #Celio Future Fashion; Gautam Saraogi, #CEO, #CEO & Co-Founder, #CEO of the Middle East Council of Shopping Centres (MECSC) and the International Council of Shopping Centres (ICSC), #Chairman, #Co-founder & CEO, #Croma, #Darpan Mehta, #David Macadam, #Dhiraj Agarwal, #Dhishoom Cinemas., #Director, #Emerging Markets, #Executive Director, #Forum Malls; Rajneesh Mahajan, #Fossil India; Nissan Joseph, #Founder & MD, #Go Fashion (India) Ltd (Go Colors);, #Hari Menon, #Infiniti Retail; Hari Menon, #Inorbit Mall; Sagar Daryani, #Inorbit Malls and Shibu Phillips, #International Council of Shopping Centres (ICSC), #Lalit Agarwal, #Lalit Agarwal - V-Mart Retail; Sagar Daryani, #Lulu group. While on the brands side were Manish Kapoor, #MD & CEO, #Metro Brands; Rajneesh Mahajan, #Middle East Council of Shopping Centres (MECSC), #Neeru's; Sanjay Vakharia, #Nexus Malls; Muhammed Ali, #Pacific Group; Dalip Sehgal, #Parul Gulati, #Pepe Jeans; Rajesh Jain, #Rajesh Jain, #Reliance Retail Limited, #Retailers Association of India (RAI), #Seller Experience and Global Trade, #Shopping Malls, #Sports & Leisure Apparel (Lacoste India), #Sports & Leisure Apparel Ltd; Sanjeev Rao, #Spykar Lifestyles;, #Spykar; P Jayakumar - Apollo Pharmacy; Rajiv Nair - Kaya Ltd; Samir Srivastav- Looks Salon; Satyen Momaya, #Trent, #Tushar Dhingra, #V-Mart Retail, #VP, #Wow! Momo Foods, #Wow! Momo Foods; Venkatesalu P

March 4, 2024, Mumbai: The Retail Leadership Summit 2024 (RLS 2024), organised by the Retailers Association of India (RAI), took place on February 28 and 29 at the Hotel Westin Powai Lake, Mumbai. This annual event brings together the brightest minds in retail to explore forward-thinking strategies within the industry.

Retail's Brightest Minds Convene at Retail Leadership Summit 2024 to Forge Future Pathways 2

Welcoming the audience at RLS 2024, Kumar Rajagopalan, Chief Executive Officer, Retailers Association of India (RAI), said, “In 2023, the retail industry witnessed a tale of two halves: robust growth initially, followed by a plateau. This reflects the criticality of aligning with market dynamics and consumer needs. We’re observing a transformative shift, with retailers blending digital and physical experiences to create seamless consumer journeys. The key to future success lies in harnessing the power of omnichannel strategies and understanding the evolving consumer preference for convenience and trust. As we move forward, embracing innovation and agile responses to market trends will be pivotal in shaping the retail landscape.”

Setting the tone for the summit, Bijou Kurien, Chairman, Retailers Association of India (RAI), expressed,  “The retail industry in India is poised for significant growth in the year ahead. Driven by an 8%+ growth in GDP in Q3 FY’24 and based on steady investment by the Government and Private sector, consumption is bound to grow. The combination of online commerce coupled with offline expansion, driven by a more technology savvy consumer with greater aspirations would herald significant changes in retail structure, and channel strategy. Retailers and brands are gearing up for aggressive growth, particularly eyeing tier 2 cities for deeper market penetration. This strategic focus not only indicates a broadening of access for consumers but also signifies a shift towards tapping into the burgeoning demand in emerging urban centres. This optimistic outlook underscores the sector’s resilience and its pivotal role in the broader economic landscape of India.”

Highlights of RLS 2024 included presentations and knowledge reports by RAI-Boston Consulting Group report titled ‘Unlocking the $2Tn retail opportunity by 2030: An activist agenda’, RAI-Deloitte report titled ‘Future of Retail: Profitable Growth through Technology and AI’, RAI-KPMG report titled ‘Achieving seamless commerce in India’ and PWC report titled ‘How India shops online: Consumer preferences in the metropolises and tier-1, 2, 3, 4 cities’. Furthermore, Best Retail Workplaces 2024 report by RAI – Great Place To Work was unveiled and the respective teams were felicitated.

The Summit saw the participation retail leaders, as well as top names in the retail service provider space. Retail stalwarts speaking at the summit included Hari Menon, CEO & Co-Founder, bigbasket, Lalit Agarwal – V-Mart Retail; Sagar Daryani, Co-Founder & CEO, Wow! Momo Foods, Avnish Anand – CaratLane; Avnish Kumar, Director, Neeru’s; Sanjay Vakharia, CEO, Spykar; P Jayakumar – Apollo Pharmacy; Rajiv Nair – Kaya Ltd; Samir Srivastav- Looks Salon; Satyen Momaya, CEO, Celio Future Fashion; Gautam Saraogi, CEO, Go Fashion (India) Ltd (Go Colors); among many others.

Speaking during the panel discussion on RLS 2024, Lalit Agarwal, Founder & MD, V-Mart Retail, discussed creating experiences in retail that resonate deeply with customers, especially budget-conscious customers, to make them feel smart and stylish within their means. He emphasised on emotional connection through personalised service and storytelling, making customers feel valued and understood. Lalit Agarwal advocates for building strong brand connections that extend beyond the store, through all interactions, including advertisements. This approach aims to turn customers into authentic influencers, leveraging word-of-mouth for brand promotion. The key is continuous engagement and storytelling, which ensures customer loyalty and organic growth.

Noting the importance of strategy differences across retail categories, Rajesh Jain, MD & CEO, Sports & Leisure Apparel (Lacoste India), highlighted the approach in the premium fashion segment, emphasising a uniform customer experience across online and offline channels without price differentiation except during season-end sales. He said that this strategy aims to cultivate customer habits and preferences for purchasing channels, whether for convenience online or the experience in-store. By maintaining consistent pricing and service, customers understand the brand’s value proposition, reducing their expectation for discounts and fostering brand loyalty.

Furthermore, Darpan Mehta, Director Tax, APAC International Stores, Amazon (US and India) and Vivek Somareddy, VP, Emerging Markets, Seller Experience and Global Trade, Amazon (US and India) made a presentation on “Unlocking Mechanisms and Working Capital for Business Expansion”.

Additionally, the second day of RLS 2024 featured a keynote speech by David Macadam, CEO of the Middle East Council of Shopping Centres (MECSC) and the International Council of Shopping Centres (ICSC). This was succeeded by a dynamic panel discussion titled ‘Mahasangram: Retail and Retail Real Estate,’ bringing together prominent figures from both retail real estate and retail industries for an engaging exchange of ideas.

Mall Developers participating in the discussion were Abhishek Bansal, Executive Director, Pacific Group; Dalip Sehgal, CEO, Nexus Malls; Muhammed Ali, CEO, Forum Malls; Rajneesh Mahajan, CEO, Inorbit Malls and Shibu Phillips, Director, Shopping Malls, Lulu group. While on the brands side were Manish Kapoor, MD & CEO, Pepe Jeans; Rajesh Jain, MD & CEO, Sports & Leisure Apparel Ltd; Sanjeev Rao, CEO, Being Human Clothing; Sanjay Vakharia, CEO, Spykar Lifestyles; and Tushar Dhingra, Co-founder & CEO, Dhishoom Cinemas.

In his keynote address at the summit before the Mahasangram Session, David Macadam, CEO, Middle East Council of Shopping Centres (MECSC), International Council of Shopping Centres (ICSC), shared insights on the evolution of experiential retail and e-commerce. He discussed the challenges and opportunities within the retail industry, emphasizing the importance of adapting to consumer demands for experiential and sustainable shopping experiences. Macadam highlighted the significant role of AI and technology in retail, the impact of mixed-use developments, and strategies for business development. He advocated for embracing change, prioritizing customer experience, and leveraging strategic partnerships to navigate the retail landscape successfully.

Retail's Brightest Minds Convene at Retail Leadership Summit 2024 to Forge Future Pathways 3

Day 2 of RLS 2024 also had a dedicated D2C segment that saw participation of leaders of top D2C brands namely, Dhiraj Agarwal, Founder, Campus Sutra; Sneh Jain, Managing Director, The Baker’s Dozen; Harsh Lal, Co-Founder, The Souled Store. A scintillating Fireside chat with Parul Gulati, Actor & Founder of Nish Hair (featured on Shark Tank India). This segment explored the unconventional strategies that has enable these brands to achieve immense success in a short frame of time.

Parallelly to RLS 2024 was an extensive session of ‘Retail Store Design’ that saw participation of top retailers and brands deliberating on topics such as ‘Future of Retail Design: Exploring Emerging Trends and Technologies’, ‘Balancing Design and Functionality in Retail Spaces’, a captivating Fireside Chat and  a Masterclass on ‘The art of curating memorable and meaning customer journey’.

The advisory board of RLS 2024 includes Anujj Puri, ANAROCK, Ashwin Khasgiwala, Reliance Retail Limited; Avjit Mitra, Croma, Infiniti Retail; Hari Menon, bigbasket; Johnson Verghese, Fossil India; Nissan Joseph, Metro Brands; Rajneesh Mahajan, Inorbit Mall; Sagar Daryani, Wow! Momo Foods; Venkatesalu P, Trent.

The first day of RLS 2024 came to a close with the grand felicitation of the crème de la crème of the retail industry with India’s Retail Champions Award 2024 and the Retail Start-up Awards 2024, both evaluated by eminent personalities from the industry as the Jury.

Winners of India’s Retail Champions Awards 2024 were:

 

Categories Name of the Company Name of the Brand
Apparel & Lifestyle The Souled Store The Souled Store
Apparel & Lifestyle Raymond Lifestyle Ethnix
Apparel & Lifestyle Spykar Lifestyle Pvt Ltd Spykar
Apparel & Lifestyle Brand Concepts Ltd BAGLINE, House of Luxury Bags
Beauty Himalaya Wellness Company Himalaya Wellness
Wellness Wellness Forever Wellness Forever
Wellness Apollo Pharmacy Limited Apollo Pharmacy
Consumer Durables & IT (CDIT) Vijay Sales (India) Private Limited Vijay Sales
Consumer Durables & IT (CDIT) Infiniti Retail Ltd Croma
D2C Cleardekho Eyewear Pvt Ltd ClearDekho
Department store Shoppers Stop Limited Shoppers Stop
Food & General Retail (Large format over 5,000 sq. ft) LULU Group International LULU HYPER MARKET
Food & General Retail (Small format below 5,000 sq. ft) Reliance Retail Limited Reliance Fresh Signature
Footwear Metro brands Ltd Footwear
Footwear Liberty shoes Ltd. Footwear
Home Decor / Home Improvement Godrej & Boyce Mfg Co Ltd Godrej Interio
Jewellery Reliance Jewels (Reliance Retail) Reliance Jewels
Restaurant & QSR Apsara Ice Creams LLP Apsara Ice Creams
Restaurant & QSR Dindigul Thalappakatti Dindigul Thalappakatti
Speciality Retail Ample Technologies Private Limited Monobrand Stoes of Apple, ASICS, UA and Bose. Apple Store brand name “Imagine”
Success Story of 2024 Trent Zudio
Business World

Somany Ceramics expands its presence in Ghaziabad by launching first SOMANY GRANDE Outlet

Dec 16, 2021 by Rekha Nair 0 Comments #MD & CEO, #Mr. Abhishek Somany, #Somany Ceramics

Ghaziabad: Somany Ceramics Limited, an internationally acclaimed organization, specializing in ceramics and allied products segments, is known to be a leader in design and innovation. Being a pioneer in the industry and having its presence PAN India, the company is further expanding its footprints in the western region of Uttar Pradesh by launching its first SOMANY GRANDE Outlet in Ghaziabad- Agarwal Marble House.

Agarwal Marble House is a plush outlet spread over 3500 Sq. Ft. and is designed in a way making it stand out from any retail outlets in the city. With this outlet the customers of Ghaziabad will get an opportunity to experience the extensive range of wall and floor tiles across categories displayed at the outlet. A designated area has been demarcated for the wide range of Sanitary ware and Bath Fittings enhancing the overall look and feel factor for the patrons, which will help them in making wise decisions while designing their homes.

In the last few years, since it’s amalgamation in Delhi NCR region, Ghaziabad as a market has been very prominent for the interior and designing industry, as corporate and residential influx is being populated with upward trend. The first SOMANY GRANDE outlet launch in the city will expand the company’s presence in the city to a total of 4 outlets and 57 in Western Uttar Pradesh.

On the occasion Mr. Abhishek Somany, MD & CEO, Somany Ceramics said, “Ghaziabad has seen it prominence growing in last 10-15 years because of its close proximity to the capital. I am sincerely proud of the effort put in by our team at SOMANY with the launch of SOMANY GRANDE Outlet in the city; it’s our biggest format franchisee showroom. At SOMANY, it has been our constant endeavor to bring forth innovation and services in line with the needs of our customers, thereby connecting them with latest trends. This expansion in the city will help us tap the new and untapped customers in the region as the purchasing power of people in Ghaziabad are quite high, opening new and exciting avenues for the brand.”

About Somany Ceramics Limited:

Somany Ceramics Limited (SCL) is one of the leading players in the ceramic industry in India. The company is a complete solution provider in terms of décor solutions with widest product selection categories – Ceramic Wall and Floor, Polished Vitrified Tiles, Glazed Vitrified Tiles, Sanitaryware and Bath Fittings. It is India’s largest manufacturer and marketer of tiles through its pan India presence and also exports its products to more than 55 countries across 6 continents. The company has access to a capacity of about 63 million square meters per annum of tiles through 2 own plants, 7 subsidiary/ associate plants and outsourcing tie-ups.

Technology

Paytm brings its card-on-file tokenization to Myntra, Oyo, Domino’s and others; enables secure online transactions

Nov 30, 2021 by Rekha Nair 0 Comments #MD & CEO, #Paytm Payments Services Ltd., #Praveen Sharma

Mumbai: India’s leading digital ecosystem for consumers and merchants. Paytm today announced that its wholly-owned subsidiary Paytm Payments Services Ltd (PPSL) has made strides with its card-on-file tokenization or “Paytm Token Gateway”. The company has partnered with platforms such as Myntra, Oyo, Domino’s and others, while also joining hands with payment giants like Visa, Mastercard and RuPay. With the partnership, the card on file tokenization service will be available for all of Paytm’s consumers and merchants. It is aligned with the Reserve Bank of India’s guidelines which said that “saved cards” feature won’t be allowed on a merchant network anymore.

A tokenized card transaction is considered to be safer as the user’s actual card details are not shared with the merchant. Instead, tokenization makes way for the card’s details to be stored as a unique, irreversible ‘digital token’ instead of a 16-digit number. This digital token ensures that a user’s card details remain only with the user and is not shared with merchants or any third party payment processor. Instead the details are only shared with the issuing bank and the affiliated network. It will also require explicit customer consent via additional authentication.

This makes way for safe and secure payments for end customers and also helps in mitigating fraud. Without the card tokenization feature, users will have to feed their entire 16-digit credit or debit card number everytime they do an online payment or transaction.

It is especially critical for e-commerce companies as it will allow them to offer their customers the ease of tokenizing debit and credit cards. This means end customers can continue to shop via the saved cards feature, which allows faster checkout.

As per the RBI’s guidelines, all merchants/ecommerce stores have to comply with the new card-on-file tokenization feature by December 31, 2021.

Praveen Sharma, MD & CEO, Paytm Payments Services Ltd. said, “Tokenization is the future of digital payments and also ensures safety, as a user’s card details are not shared with anyone. Our merchant partners can now offer seamless, secure payments to their users. At Paytm, it is of paramount importance to ensure secure digital payments and we are happy to offer Paytm Token Gateway to India’s merchants and online e-commerce platforms along with our partners Visa, Mastercard and Rupay.”

Business

Godrej Properties buys 16-acres land parcel in Bengaluru’s Sarjapur

Nov 26, 2021 by Rekha Nair 0 Comments #Godrej Properties, #MD & CEO, #Mr. Mohit Malhotra

Mumbai: Godrej Properties Ltd. (GPL), one of India’s leading real estate developers, today announced that it has purchased land measuring approximately 16 acres at a strategically located and fastest developing micro-market of Sarjapur, (Bengaluru) to develop a mid-income project.

The project is estimated to have a developable potential of approximately 1.5 million square feet saleable area comprising primarily of residential apartments of various configurations.

Sarjapur is one of the most preferred residential locations in Bengaluru and also has excellent connectivity to the IT/ITES belt at Bellandur on Outer Ring Road and several key hubs of the city. The site is strategically located close to the Sarjapur main road and offers an extremely well-developed social and civic infrastructure with multiple schools, hospitals, retail, residential, and commercial spaces in close proximity.

Mr. Mohit Malhotra, MD & CEO, Godrej Properties, said, “Infrastructure development in Bengaluru has increased demand for housing, especially from the mid and upper-mid income group. Sarjapur is an important micro market for us and we are happy to add this land parcel to our portfolio. This will further expand our presence in Bengaluru and complements our strategy of deepening our presence in key micro markets across India’s leading cities.”

Business

SENVION INDIA wins 591 MW firm order from JSW Energy

Oct 4, 2021 by Rekha Nair 0 Comments #Amit Kansal, #Chairman of Senvion India / President & CEO of Alfanar’s construction and renewable business, #Jamal Wadi, #MD & CEO, #MD & CEO at JSW Energy, #of Senvion India, #Prashant Jain

senvion

Mumbai: Senvion, a leading manufacturer of wind turbines, has been awarded a 591 MW project to deliver its high-quality Wind Turbines for JSW Energy. Senvion turbines will be deployed in JSW Energy’s ongoing pipeline of ~ 2.5 GW of renewable projects which are under construction.

The project will comprise of Senvion’s State-of-the-art 2.7MW turbines. When fully deployed these wind turbines will produce enough clean energy to supply the power needs of over 450,000 Indian homes. Key factors in the award of the contract to Senvion included a competitive product due to high-level of indigenization, technical strength, and quality. The delivery of the turbines will start from H1 of 2022.

The project also comes with a 10-year Fleet-ProTM O&M contract, which is Senvion comprehensive maintenance program for its installed turbines. Fleet-Pro delivers high quality digital interface with turbines, on-line prognosis and diagnosis and prompt service to realize full potential of the wind farm.

Prashant Jain, MD & CEO at JSW Energy said: “We are happy to work with Senvion in our flagship wind projects. Senvion presented a high quality proposal backed by quality turbines, strong engineering capability and an attitude to jointly work towards solutions for a successful execution of the project. We look forward to on-time completion of the under construction wind projects.”

Amit Kansal, MD & CEO, of Senvion India, said: ” It is a very satisfying win with JSW and Senvion is very thankful for the trust JSW management has put in Senvion’ solutions and team. The success of such project depends on pre-engineering and optimization which helps not only in winning but in execution later. The two teams are now working relentlessly to meet the commissioning timelines and to build a world class project. Senvion is fully committed to deliver world class technology and significantly contribute towards the vision of Indian Government to achieve 450GW of installed renewable power in the country by 2030.’

Jamal Wadi, Chairman of Senvion India / President & CEO of Alfanar’s construction and renewable business globally sums it up: The trust that JSW Energy has placed in Senvion India with the order is a testimony to the superior technology and performance of Senvion India’s wind turbines. Alfanar is committed to strengthen Senvion India to deliver its projects on time with high quality standards and continuously evolve as the top technology OEM of Wind Technology.

Business

SBI General Insurance launches #7MinutesToGoodHealth, a health initiative

Sep 27, 2021 by Rekha Nair 0 Comments #MD & CEO, #PC Kandpal, #SBI General Insurance

Mumbai: SBI General, one of India’s leading General Insurance companies has launched a distinctive health program, “7 Minutes to Good Health”. Through this easy and effective guided program, the Company reiterates its commitment towards health on a larger scale.

Health focus has always been a priority for SBI General. With this initiative SBI General encourages people to practice 7 minutes of right breathing techniques daily which will help them transform their body and mind.

With this initiative, SBI General also unveils its new brand association with Vidya Malvade, an actor and yoga enthusiast, who will be the face for this health property and will be showcasing the right breathing techniques in the guided video and many live sessions on social media platforms.

SBI General Insurance has partnered with The Yoga Institute, the oldest centre of yoga in the world to curate this guided health program.

This is a nationwide health awareness initiative by SBI General.

PC Kandpal, MD & CEO, SBI General Insurance, said, “In the current situation, securing health has become more important than ever before. This was the backdrop for us in ideating this initiative of #7MinutestoGoodHealth. On the other hand, we have also considered the retrospective view that in our fast-paced lives, we may or may not have time to squeeze in a long workout regimen but sparing just 7 minutes a day is still possible. #7MinutesToGoodHealth allows you to transform your body and mind in just 7 minutes a day routine.”

#7MinutesToGoodHealth by SBI General Insurance is all about simple 7-minute breathing program that can help with many health benefits.

Business

Honourable Union Finance Minister Nirmala Sitharaman Inaugurates Tamilnad Mercantile Bank (TMB)’s Centenary Celebrations in Thootukudi

Sep 13, 2021 by Rekha Nair 0 Comments #Honourable Union Minister of Finance & Corporate Affairs, #MD & CEO, #Smt. Nirmala Sitharaman, #Tamilnad Mercantile Bank (TMB), #Thiru K V Rama Moorthy

New Delhi: One of India’s oldest and leading private sector bank, Tamilnad Mercantile Bank (TMB), commenced its Centenary celebrations today at Thoothukudi, Tamil Nadu with the inauguration by Honourable Union Minister of Finance & Corporate Affairs, Smt Nirmala Sitharaman in the presence of Thiru K V Rama Moorthy, MD & CEO, TMB, Board of Directors of TMB, Thiru G Natarajan, I.P.O.S, Post Master General, Dr K Senthil Raj, IAS, Collector of Thoothukudi district, other government officials, dignitaries and customers of the bank.

Marking the significance of this day, the Chief Guest, Nirmala Sitharaman launched a unique TMB ‘Postal stamp’ and a specialised ‘Postal Card’. She flagged off the ‘TMB Mobile DigiLobby’ vehicle, which facilitates customers to withdraw and deposit cash and to print passbook at their doorsteps. She also flagged off the ‘Mobile Vaccination Camp vehicle’ jointly conducted by TMB and Times Network, India’s Premium broadcast Network, to educate the citizens on the importance of vaccination, which prevents the spread of COVID -19. The FM then disbursed loans to pharma and healthcare units.

Speaking at the event, Thiru K V Rama Moorthy, MD & CEO said, “TMB has always added value to all the stake holders for the last 99+ years. The bank has stood the test of time and seen various historical events like Independence, Emergency, Liberalization of the economy and most recently the COVID-19 pandemic. To help borrowers to overcome the adverse impact of COVID-19, till date, the bank has covered 13753 beneficiaries to the exposure of Rs 1,567.62 crore. In the era of digital banking, we were the first Bank to introduce Robotics in currency chest to sort and bundling of currencies in order to provide quality service to the customers. As a part of our Centenary celebrations, we are kick-starting multiple initiatives, starting with the issuance of a special postage stamp and postal cards. We are also launching the TMB Mobile DigiLobby and a Mobile vaccination drive to support our communities. The disbursement of loans to pharma & health care units will be at the heart of a year-long series of events and initiatives from us.”

Business

CNBC-TV18 launches ‘Financial Quotient’ – a special series on Women and Money

Sep 2, 2021 by Rekha Nair 0 Comments #Aditya Birla Sun Life AMC Limited, #Avinash Shekhar, #CEO - Business News, #Co-CEO of ZebPay, #MD & CEO, #Mr. A. Balasubramanian, #Network18, #Smriti Mehra

Mumbai: True independence is when a woman is financially independent and can pursue her goals and ambitions without constraints. With financial freedom, women can develop the confidence to enable themselves to make successful strides in life, realize dreams and achieve goals. This freedom also contributes to rising female leadership in the workforce, upliftment in their living standards, higher economic contribution and overall building of a stronger nation.

What’s more, is the growing share of women opting for credit, opening trading accounts, investing in mutual funds & equity markets and checking CIBIL scores clearly points to the emergence of a healthy appetite for investment-related guidance among the female audience.

With this central thought, CNBC-TV18, a purpose driven brand and the undisputed leader in the English business news space, is launching a special series titled ‘Financial Quotient’, to equip women in their journey towards financial freedom. Season 1 of the show goes live on Friday, 3rd September, 2021 at 2 PM.

Understanding that empowerment of women is closely linked with financial empowerment; this show will seek to provide them access to all aspects of financial independence.

Hosted by Sumaira Abidi, Deputy Editor at CNBC-TV18, each episode will focus on contemporary and relevant topics such as Investing for the first time, Insurance, Estate planning, Risk profiling assessment, Inheritance management, Reviewing & Consolidation of investments and much more. It will also shed light on aspects such as retirement planning, maternity planning and career breaks, thus keeping women at the centre of the conversation. Additionally, the show will focus on providing wealth solutions for the entire family, making it relevant for men as well.

Two leading brands namely Aditya Birla Sun Life Mutual Fund and Zebpay have partnered with the show.

Speaking about the show, Smriti Mehra, CEO – Business News, Network18 said, “Fund your dreams, fund your freedom, it’s YOUR time. This is the central theme behind Financial Quotient. We could not have been prouder to bring such a unique and powerful content offering to our women audience in this form. As a nation, we have faced some very tough challenges in the last 1.5 years, and our endeavour as a brand has always been to be the best possible ally to our audience in their journey towards wealth creation and financial planning. Our Women and Money Series is simply the natural progression to carry this philosophy forward. We are proud to address women and curate content that helps them fulfil their dreams and aspirations.”

Commenting on the association, Mr. A. Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC Limited, said, “We have always believed that financial empowerment begins with awareness and education. We have held several impactful and large scale initiatives over the years that have propagated investment awareness. While our efforts have been recognised, our pursuit to spread financial education is relentless and we have now embarked on an ambitious journey with For HER- one of the largest financial literacy initiatives aimed at women in India in collaboration with The Women’s Collection, and we aim to reach over 10 million women across the country in next 3 years. CNBC-TV18 as a brand has proven expertise and depth in the field and has been championing financial education for many years. The synergies between us are well aligned and we look forward to this partnership in taking our vision forward. Instilling the power of financial education amongst the women of our country is essential to India’s economic growth. Such focussed engagement will provide the right knowledge and enable their active participation in financial decisions.”

Avinash Shekhar, Co-CEO of ZebPay also shared, “ZebPay’s Women’s DAO (Decentralized Autonomous Organization) is an all-women-led decision-making project that uses blockchain technology. The goal with this initiative is to promote more women in ZebPay’s leadership roles by providing a supportive environment and also create new programs for higher engagement with women customers. ZebPay is proud to partner with CNBC-TV18, the leader in business news and market updates, on the Financial Quotient series to achieve our mutual goal to boost women’s empowerment. We trust this series will help develop more women leaders and decision-makers in the country.”

Viewers can watch the show every Friday at 2 PM on CNBC-TV18.